a newspaper installed pedestrian bridge in miami. onto a he bridge fell highway, crushing vehicles and occupants.ir mummer subpoenaed the trump organization to turn over including some related to russia. it's the first known time that demanded counsel documents directly related to businesses. former f.b.i. director andrew asked the department of justice not to ahead of ust 72 hours his scheduled retirement. giving sense active information to a reporter it.then lying about the white was at house. the president says he homes to meet with him next year. the cab net addressed his recent

thereet shakeup by saying " will always be change among his statue." by more than 2,700 in more ts in analysts than 20 countries. new york. crumpton. "bloomberg technology " is next. ♪ emily: i'm emily chang and this is "bloomberg technology ." quarrel , estimates of numbers. hat the chip maker's success for future -- means acquisition in the united states. plus, the f.b.i. warns that russian hackers are attacking e u.s. power grid, targeting some of the most sense for futu infrastructure. and walmart may have gone too trying to close the gap with

am zofpblet details from the that accuses america's biggest retailer of cheating. to our lead. shares are little trading.fter first this puts pressure on the chip tan so continue its rowths after making an acquisition in the u.s. after dealt a serious blow. us, abigail doolittle. come not ome and quad -- com and quad com not happening. >> you're right about the deal non -- not happening. preannounced but even with that they beat the first but er earning estimates because of the preannouncement, is often the case on guidance. billion for their

fiscal second quarter, plus or 75 million. 75%'re giving a range to up %.. the estimate of 64.3 the stock is down a little in afterhours. this guyf that is that is considered to be lionel. going so has been strong they've been executing and performing well. investors may have just wanted a more. bit >> what is going on here? complexity is the for 4-g. that's helping them out from a standpoint and relative to earnings, lots of dills palestinian and that helps on bottom line. emily: let's talk about the broadcomcture and what does next. o they try to make another acquisition?

>> they made several ago. itions not so long ter the failed bid for qualcomm after president trump essentially blocked it. right, they do have an a acquits active nature. for smaller times deals. microchips for example. it's not like these are tiny companies. meaningful enough that for sma programs other issues could come certainly not of the size of qualcomm so stay tuned. hearing about another potential deal anytime ere in 2018. emily: thank you for breaking it down for us. broad oing to stick with come. at does this mean in the broader chip industry? on this 's your take from across the pond?

>> what i thought was some of ng as we saw the numbers, quite impressive. bottom ighlighted the line, which beat even their own expectations and it's that focus and cost control which has sameyed then when it comes qualcomm. generally to ed pend less on r.n.d. and that cutting of expend which you were was perceived by the a i have been as to u.s. technology development. sometimey might their growth expectations and acquisitions going forward. do the b -- broadcom cells? say about iphone >> a big supply of apple, the supply thingsthey such as the chip used in plepay and also in the wireless charging.

they have gone with pretty good and that suggests christmas over the quarter was strong but going quarter, that demand seems to be dropping off and that does pose questions cycle.he super the expectation not just that the iphone 10 would provide a bump this year but extending into the subsequent years, there would be a big demand for and it drive the higher. emily: this ties into what-year with the o come iphone later this year. we've been reporting new models fall. in the what sort of demand are we expecting to see? that's obviously the dollar t -- trillion- question, literally. appleing you have to give for is that this hard wear

-- hardware demand translate into sells. onto ve downloaded apps your phone then you're going to buy the next iphone. it seems the yum grades they later this year, em to be indecree yenlt -- incremental, not big blockbuster increases for this year. emily: what is the future of broadcom? there's a very good chang chance they'll be looking acquisitions. they may continue to domicile u.s. in the not necessarily that they're as a threat. themselves or that

ey might affect national security. some of those acquisitions may qualcomm beneficial as is. alcomm is going to be with essential things like 5-g and the u.s. doesn't want to lose that because then they might have to buy from perhaps seen as a hat is national security threat. whether ion now is broadcom can find the growthtions to drive the and keep shareholders happy. emily: thank you so much for weighing in. with earnings, odone linois also reported results after the close totaling just first billion in the quarter, a new record if the company. s full year earnings outlook topped the most bullish forecasts. ming up, the u.s. is sanctioning rusha over it social

medicineling and u.s. politics. ho was hit hard est and why? we'll discuss. this is bloomberg. eat? -- ♪.

emily: billionaire investor eter tea slmbings bullish on bitcoin, the hardland and president trump. on king in new york thursday, he said bitcoin will

become more important. his venture fund have been bitcoin since 2012. thiel also lavished praise on for his ability to reframe issues and he said it's for start-ups because housing prices are more gave this nd prediction for the 2020 race. >> i'm not sure i can speculate anyone else in this audience will. i think if he runs again, he'll re-elected. he'll make a judgment, and if he re-elected if et he runs and if he runs, i think he'll win. dire warning from the f.b.i. claiming that russian mountsing kers are on assault on key parts of nfrastructure. they've taken aim at air transport facilities, parts to grilled. electricity water plants and more.

russia hacks are happening hundreds of thousands of times a day, all of this as the trump administration slams sanctions those indicted in the 2018 national election. if in all sounds terrifying. what exactly is happening here? there's a lot of news about russia and hacking too. break it down first with what alert from und this the f.b.i. and the department of homeland security. that dating back to at least march 2016, russian targeting u.s. critical infrastructure, ranging to the electrical grilled to nuclear power plants, we all rely that upon. what actually was targeted, we're still trying to figure

that out. parts of f individual those sectors. but these were classic spear attacks we're used to hearing but at the same time some of the strategies of how ey got into these networks have been revealed by the federal government. russiansaying that the targeted suppliers and third-party vendors. that from the major networks of these facilities and once they have credentials they can log on nd gain access for the control function for these facilities. it's wild rank -- ranging, different the sectors, the russians were apparently targeting in the u.s. successful have these attacks been and how disruptive to these facilities? department of home security and f.b.i. haven't come and said how successful these attacks were. we know same time what they've said around the

targeting of elections so we can surmise what they were able able to get, whether they were able breach into both government facilities and privately owned, utilities and were they ble to exfill trait and take data? were they able to gain access and start running some of these remotelly? those are some of the questions we're going to have. out today and ut it didn't necessarily say this so nd ised -- ended something to look out for, both for the major facilities and smaller e small -- vendors supplying to them. tsenging a .s. is -- farm.ased who are these targeting and why is this >> today the u.s. treasury internet research

agency, dubbed as a troll farm as well, some of the really close associates of putin. t vladimir one of them known as putin's chef. companies,e of these f. -- as the g.r.u. and to top russian intelligence agencies. rocket e mentioned in mueller's diet of 1 russians these are s year, so people who are being accused of really targeting the u.s. 2016 u.s. elections meddling. ussian the u.s. treasury coming out and saying we're sanctioning these for their involvement in the russian meddling of 2016. impact couldind of these sanctions actually have? debated here in

washington today. you had republicans such as the speaker paul ryan saying that this was long overdue and moves. ng these at the same time you had other warner on the rk enate intelligence committee say more needs to be don't done. analyst told us will this actually change russia's desire u.s.? et the because we've heard from top telligence agencies this year's 2018 midterm election are again for target meddling so that's the question, ether this is enough or it's just symbolic or enough to actually influence russian behavior thank you so much for that update. national omberg security reporter in washington, d.c. market , a new way to research and it's all about a.i.

of street bees is connecting customers to next. es this is bloomberg. ♪

mily: at&t will face off against the justice department starting monday. the d.o.j. is trying to block $109 billioniant's take overof time warner. at&t would give it .nfair advantage over americans at&t has dismissed the as rnment's claim

ridiculous, saying it amounts to cents per ust 45 person prosecutor month and tate to claims the attempts block the case is politically motivated. is trying to position itself as a game changer. nstead of paying a traditional company to carry out market its ch, streit bees uses one-million-plus bees or people provide e world to insight with some of the world's granleds, -- brands like pepsi. ey just intend to keep growing. with more, here's carolyn. the street bees c.e.o. is with us. onderful to have you here. how does that $12 million help building intelligence machine learning to actually build a business? fantastic question.

market research has always been surveys,ally done with including multiple choice questions. basically asking people telling us what they want and need in their lives. not a natural way to do it. what artificial intelligence l.p. natural an nguage processes, we can actually stop asking people unnatural questions. to ad we just tell them share moments from their lives in the form of videos, foltz, open text. we call that unstructured data data, hat unstructured wraffer than asking people hear, what you want to thanks to artificial intelligence, we can analyze all then actually tell brands what people really want n their lives.

>> how does this make what you and others use it even more? >> absolutely. needs to know something, we were asking people they were making a tea or preparing their food, tell us about it. changing completely the model around. we are actually asking people -- we know it's convenient for them to share moments from their ife. we don't collect all the information that is collected basis on a continue yowls through a data base and then whenever a company needs to know about, let's see, how the birthday participants are go intol brated, we can the database and find out what s happening, why is it happening, what is driving that havior and what is likely to happen next. so with this model we can before it behavior

becomes a known trend. algorithms, hese you need engineers and specialists. where are you expanding -- expanding teams? increasing our team by five fold. -- stack hiring engineers and data engineers. going to be a 150 people company within the next year. >> here in the u.k.? yes, the majority is going to be also u.k. but we have people in lisbon. the size of our lisbon autopsy too and we're u.s. now. the >> lisbon is interesting. we had some amazing portuguese engineers and we wanted to give them a home in we were increasingly getting questions from our world that ound the

we were worried if they could stay in london or not. we said don't worry, we have an office in lisbon. comes to worse, we can always ship you to lisbon so you don't need to worry about that. v.c.c.'s and the l.p.'s behind the venture sequinsed a are you ou can scale in the right way? we've gotten stories from ompanies that expand too quickly, ethics go out the indow. we don't even call it diverse. it's not a special thing. population. he we have men and women, people from different colors and different religious. why shouldn't a company have all of that? what we have is 50% men

and women in the office, very unusual for a technology company. it also is reflected in our leadership team and we're all g.b.t. ted in our all represented in black and brown populations in the country and that is incredibly important us. our job as street bees is to understand human behaviors. able to do, that build algorithms, first of all you to have in your office all sorts of different behavior represented. >> fascinating. e hope it continues. hat was tugce bulut from streetbees. >> thank you so much. we'll be back. in is bloomberg. ♪ retail.

under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store

near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. >> you're watching "bloomberg technology ." a check of first word new. russian official said u.k.

officials were not honest about nervous ing behind a gas attack for a russian spy and his daughter. nearly $100,000 in new fund for palestinians. it would not exist if services were not provided. of the region would undermined. now it is very clear. it is essential that the you than anymore tip in support translates itself fast ball into the support necessary to fully britain the gap. u.l. in's action comes after the u.s. slashed aid this year. vietnam today dedicated a shrine the my lai s of massacre. 50 years ago, americans were to a battalionon

of viet cong thought to be iding. 400, mostly women and children killed.rly men were vanessa trump, the wife of for d trump jr., has filed divorce. global news, powered more -- by 2,700 journalists and -- countries.er paul allen has a look at the markets. paul, good morning. good morning. the index looking flat at the moment after what was a pretty mixed finish on wall street. we had the dow closing higher by 1%.h of the s&p slightly weaker. looking kind of flat for the fourth straight day. john norman says markets are now in the twilight of mid cycle and to rotate out of

equities. up.ave futures pointing keep an eye on west farmers. news breaking out of australia the struggling supermarket demerged.hl's will be not a great deal of change to or the japanese yen against the green back. weaken down toto ounce.an lsewhere, the japanese -- is likely to confirm the governor another five years. more from "bloomberg technology " next. emily: this is "bloomberg technology ." i'm emily chang. top briefly return to our story. broadcom's earning results

ofres are under a little bit pressure after its sales recasts are not in line with estimates. new comments on the qualcomm acquisition. e company says that qualcomm was a unique opportunity but for eek applicants acquisition in the future. al-marts shares plunged in trailed after they issued isleading e-commerce results and responded to a splainlt -- complaint that they were breaking the lawmaker. walmart has invested billions to tch up with am zaun in e-commerce. more. g in matt were what is this whistleblower happened? >> this whisser blower's job was this lly to grow marketplace business. amazon also runs

where walmart will get a cut of this gentleman was claiming there was impropiratey there was a growth at all costs mental ity. when he brought these -- these sues to lights, he was eventually fired. emily: he's saying they allowed on the items to stay site. tems like what is this tranny granny costume. you asked, there you go. mug with hitler's name on it. ust sort of really emily:, shady stuff. this is a marketplace. vendors selling all sorts of items but the broader this marketplace from walmart has grown from only items a couple of years ago to 75 million items now. could get y things sort of overlooked amid all that

growth but this whistleblower is claiming there was a persistent pattern of ignoring these issues when he brought it to light and brought it to the global of the partment company, he was terminated. emily: what is walmart saying? they're vig allows rousely defending themselves, theying by a disgrunlted part of ployee who was a broader restructuring and broader restrurg after the company had acquired executives a lot of took leadership roles at walmart. e'll see how much these claims can impact things. how much does this the business? >> their fourth quarter, a very theirant one for walmart, e-commerce growth flowed.

people asked questions, all this growths on the e-commerce side, us? is it really costing walmart is very concerned about heir profit margin and investors want to see growths there. down 10% on were the day they reported earnings. rebounded today but it shows the concerns the growth. have in emily: how good is they doing? the c.e.o. of jet.com is now business.at how much legitimate progress has it made is this they've made quite a bit of progress. mark has insurance tulet two-day ree delivery, discounts on items, sort of so-called and recently he's expanded home delivery 100 markets bout up from six.

i think food is the area where has an advantage over amazon. son -- amazon is just figuring out food right now. walmart is the nation's biggest grocer. food and ow to sell are doing a very good job of selling it online right now. emily: talk about the issues that walmart needs iron out in the future. growlsry is going well, where are the biggest challenges? are going to nges go beyond food. walmartis one area that has really never been known for fashion and they're trying to remedy that. they hired a woman from saks fashion rrian line business. bottom line is and and that is the thing, it's the bottom line. people want to see if this business can actually make un-- money. not happy to hear c.e.o. doug mcmillan say on the call that the

lose even would could more money this year. they still have a lot of room to grow and with amazon going into w areas almost daily, it really raises the bar for everyone. emily: bloomberg's matt boyle. joining so much for us. blackberry is endorsing its turnaround plan and what are john chen a new worth? -- the pay package includes 10 grants. tock barack bury has exitted the took usiness since chen over in 2014 and he transformed ackberry into a smaller, leaner, security-focused software company. up, we speak with someone with a company that promises to air sheets.

he secret to the company's success next. bloomberg. ♪ ♪

emily: the biggest radio broadcaster in the united states bankruptcy protection with a last-minute credit media deal. has an agreement to cut its $20 million debt load by half. an they own 800 radio stations. -- newer media have cut fills.e company's ad the start-up airtable has become a sleeper hit with companies as tezz la -- tesla, we work

bnb.ir it's set to take on google ask apple. announced new funding a week a be -- ago and within a eek, that doubled. i want to bring in howie lue, c.e.o. thank you so much for joining us. >> thank you. groundbreak s so about your technology? what really sets us apart is that we don't see ourselves as a tool or replacement for icrosoft office. we think there's a profound gap etween the experience that technologyists and software software, e with which is to see it as a medium everyone gets this push-button experience. apps that have already been made. we see airtable as a platform

that enables everybody in the kind of stick their hands into the machine and apps. their own useful called a e heard it spret sheet killer. them and caneat to they really replace spread sheets? a lot of financial otherts use these and the is where people are creating makeshift data bases. keeping track of their inventory or customer contacts. we can modernize that entire collaboration and ructured kind of data work flow. emily: are you challenging microsoft and google? sense yes.in a at the same time i think the broader opportunity is even taking existing spread sheet use cases and pre-- replacing them and actually new ng up a nash -- up a

frontier where companies can indicated programs without having to wait for an i.t. department to instrument for them. emily: airtable is part of this ow cold or no-cold movement. this is something that even amazon is secretly working on means you can make your own apps with less experience. right? > yes. emily: what is so disruptive on a noon? >> when you think about the used by other -- either companies or individuals, you this rock in a hard place truth. here either you get an app tharthars very structured and light wight a simplistic, straight ahead sheet management tool. what is problematic is that massive ng into this volleyed in between and trying

to offer people this kind of between that divide. the structure of building a real app but at the same time not all complexity and expensive e. that usually goes into it. you've been working in industrialize for a long time. you worked sales force. about your thoughts for the bigger landscape. are all icrosoft fighting for the cloud. oracle is fighting far different piece of the cloud who. ends up on cloud? >> i think it's a very place to be. i think you'll see an ntersection of interests and ambitions between sales force and some o'er companies but also companies like amazon and google microsoft, have been mass oriented.mass you had the spine near to have original platforms.

it attracted away in hardware and then there were other aggressive -- progress constructions. where this becomes interesting microsoft isce and that we see this as the next leap where you no longer have to about the software code. athletic layer of attraction where business and users can create their own apps n a cloud environment. emily: we've seen a lot of partnerships between companies that are, in fact, exeltors. does that mean for who owns the cloud? does amazon maintain its lead?ic does the cloud just get bigger of different exeavens own a piece of it? i real realize it's not zero-fufpbled game but who ultimately owns the cloud? i t's a great question and can't puffer port of a 100% it.rate answer on but my best bet is that the

ace with grow by leaps and bounds. major fortune 500 retailers officeors ck operation work flows on top of airtable are entirely new. they're replacing ad hoc systems r creating new levels of transparency that wasn't there before. it's not some that we're with google ting cloud platform or a.w.s. or that going to essarily have to compete directly against each other but rather i think an new category of value will be created for certainly businesses and then also individuals. emily: do you trip we'll see is airtable one of those targets? >> we are not at all interested in acquisition. think the possibility here is at least a once in a lifetime or a decade nce in opportunity to become the next greats company and there's a see between l we the early days of computing and

and mcintosh did for ersonal computers -- we're democratizing software creation. kucher was there on demo day when you presented. and vested in your company you got bought by sales force a year later. sounds like the quintessential silicon valley story. was it really that easy? fortunate to have so many factors going for me and he two decades i was alive before that. i would never say it was an easy journey. if you think it is, it's a lack of awareness of a lot of i've benefited from. i don't think it's easy. we put in a lot of hard work but also benefitted a lot from a foundational element that we had us. for emily: i'm very interested in adversity. is your advice for founders

who come from other backgrounds who wants to make it here? >> first, it's really important consumer of knock. for instance, there are a lot of as wellline and digital as human resources to learn from. it is going to be a challenge to -- if you coupled a lot of founders and asked them advice, it's tough to get the attention of the really was people. new orleans at while it's not a silver bullet a can't completely reverse lot of things out there, one way that entrepreneurs can break the valley. mily: howie liu, c.e.o. of airtable, thank you so much. an ng up, snap drops amid uproar making lights of rihanna with domestic violence. we'll discuss next. this is bloomberg. ♪

emily: spotify begins trading pril 2 on the new york stock exchange. they announced the timing at an investor event today. spotify is skipping the traditional road show meeting and media interviews and at its first market valuation will be set before the stock shares sed on the investors want to sell. price agreed upon by both participants. pop singer rihanna now for running an ad that asked users to decide her er they wanted to slap or punch kris brown, saying it made a joke of her history as a of domestic violence. snapchat removed the ad, which game called would you rather? it was aogized, saying make. ey also called the promotion

disgusting. snapchat stock fell. i read ngry even as that. how did that happen? i since snap has been tran guess soing to an automated ad ales system. early on it had more of a direct rhythm with advertisers. any business can guy a snap ad. removed by a human checkpoint -- reviewed by a how -- human checkpoint that would look at it and say is it rules or not? someone said it's follows our les, put our signal of approval on it, let it run and there was uproar over the weekend. out that ad was circulating saying of course it doesn't follow our rules. disgusting. we don't like this ad. noticed urse rihanna and everyone noticed. now there are calls to boycott the app. it's getting very heated.

emily: signal shares plunged. sent of what happened with kylie jenner who that basically she doesn't use signal anymore. the women,d that all children, and men who have been demrest um -- domestic violation vinlse. down.t us shame on you. apology away. tells sers saying if she me to delete it, i will. not good for signal. not good in is the position that they're in they this e app that has relationship with a younger all want to dvertisers reach. hat's why people want to spend money on snap ads but if they are losing faith among kylie jenner, like rihanna because of silly

mistakes like there. complaining about their redesign, which was another big move they made year.r this that is going to chip away at people's confidence that this is going to reach younger users. there's a bisque problem in the about how hard it is to make sure that these auto matted systems don't churn out bad ads. review all of them problems ave been th racist ads or ads anti-semites. be will only continue to ore difficult to review. emily: thank you very much. werg reporter who covers snap, thank you.

a reminder, we're live streaming twitter. check us out weekday, 5:00 p.m. 2:00 p.m. san francisco. task that's all for now. this is bloomberg. ♪

♪ u.s. stocks close with consumer andsses energy and the s&p fell for the fourth day in a row. betty: investors are now waiting for fed. haidi: asterisk's largest building firm is getting on the booming middle class, asia is the story of the generation. betty: and reports from new york say robert mueller has been at the trump organization or documents related to russia.