♪ mark: i am mark crumpton in new york, you are watching bloomberg technology. white house press secretary sarah huckabee sanders says no final decision has been made on how to respond to that alleged gas attack in syria. sanders says officials are continuing to assess the intelligence and are engaged in talks with u.s. allies. president trump spoke to british prime minister theresa may and french president emmanuel macron today to discuss the situation. meantime, the rush to move biological samples out of syria after the attack may have yielded results. nbc reports urine and blood from douma have tested

positive for chemical weapons. threats of military action in syria are a violation of the u.n. charter. he spoke to reporters today after an emergency meeting of the security council. >> the meeting was about threats to the security, aggressive policies of some governments, council members, are having, preparations they are making. mark: ambassador nebenzya added quote, the immediate priority is to avoid the danger of war. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. ♪ i am mark crumpton. ♪-- i am mark crumpton. ♪ i am emily chang and this

is bloomberg technology, from new york. coming up, unfriending facebook. privacy concerns on the social media site are taking a toll, with users deleting profiles at an alarming rate. plus bitcoin back on the move. as a price spike shoots the cryptocurrency up by more than that -- more than $1000 within an hour. we will chart the rise and the reasons behind it. a look into what could be the future of sim tech. the future of robots taking advisory roles managing wealth. first, to our lead. concerns about facebook privacy is taking a toll. techpinch group called conducted a survey to find out how seriously americans are taking it. nearly 1 in 10 americans have deleted their facebook account on privacy concerns. 17% have deleted the app from its phone. about 35% say they are using facebook less than they used to. co-founder mark zuckerberg testified on capitol hill for 10 hours over two days over the latest crisis surrounding

cambridge analytica and russian election-meddling. vancouver, the managing director here with me in new york. and bloomberg tech toss sarah frier. i want to know the latest, what are lawmakers doing, what is facebook doing now? sarah: during the 10 hours of testimony the zuckerberg says i'll have my team follow-up with , you on that -- now that is happening. giving theiren are questions to facebook staff. facebook staff has to go through and meticulously answer those all. and then we will get some interesting answers that take a little longer than the five seconds zuckerberg had to respond. emily: and he said "i will have my team follow-up with you" many, many times. how satisfied are you with what you heard from mark zuckerberg, and how satisfied were you with the questions from lawmakers?

>> i would give both mixed results, for reasons i think are obvious about the structure of the hearings themselves. think about it in the senate , hearing, in the first hour and a half, there were at least a dozen different issues senators raised, areas of really serious concern, and that helped mark respond. because he did not have to worry techniqueosecutorial hammering him on the same issue over and over. he was able to say i will get , back to you, and move on to the next topic. the problem with that -- and this is where i think he has a real issue -- facebook may be like a rock, but this scandal is like water pouring over it. it will erode the rock. the trust in facebook is in severe jeopardy right now. mark and sheryl have no one to blame but themselves. they have handled this thing in a cavalier fashion. it is really serious. we are talking about democracy,

civil liberties, the rights of human beings in places like myanmar and the philippines. they have to be more focused. emily: that said, mark zuckerberg told us it hasn't had a meaningful impact on usage. sheryl sandberg told me and sarah frier only a few advertisers have cut spending. then we have this techpinions survey. how do we make sense of that? not know about the survey. it is easy to say you have deleted the app or haven't. i would be stunned if we have not seen a change in usage in the march and other quarters. i think the erosion of trust is so staggering at this point, from facebook's point of view, it goes after what the business really is. i think they have forgotten they don't have a birthright here. they require consumer's willingness to work with them.

mark's responses to those questions, particularly senator durbin's question about his hotel room, would he divulge where he stayed, invasions of privacy, those things are a tell. they give consumers a sense these people view us as fodder , or fuel for their profits not , even as customers or human beings. emily: another issue came up several times, specifically in the house hearings where the questions were, rightfully and luckily more pointed and better informed than, i believe the senate hearings. a representative asked this of mark zuckerberg, what happens and how does facebook track users off facebook including , users who have never signed up for facebook in the first place? take a listen to that exchange. >> you are collecting personal information on people who do not even have facebook accounts, isn't that right?

mr. zuckerberg: congresswoman, i believe -- >> yes or no? mr. zuckerberg: i don't believe that is what we are tracking. >> you acknowledged you are doing that for security purposes. and commercial purposes. you are collecting data outside of facebook. when someone goes to a website and it has the facebook like or share, that data is being collected by facebook, right? mr. zuckerberg: congresswoman -- >> yes or no? mr. berger berger -- mr. zuckerberg: yes, in order to share with your friends -- >> so for those that don't even have facebook, i don't think the average american understands that. emily: roger, is it true that other internet companies do similar things, like google, and if so what is so bad about this? , roger: i think there are a million things wrong with it. yes, lots of internet companies do it. i use a product on my phone and

computer to block trackers exactly like this. page i land on, there will be half a dozen, 15 different trackers people try to insert into my browser as i am searching around the web. in my mind, the whole thing is a massive invasion of privacy predicated on a lie, on the notion that none of this is going on. as consumers begin to understand the degree to which they are being used as fuel for business models they have no real benefit from the trust erodes much , further. it goes way beyond facebook. i think facebook is in the crosshairs because its impact on elections is so great. but in reality in everyday life, , google has a profound impact. things like instagram, snapchat, and especially youtube have an unbelievable impact on society and mental health.

sarah: roger, i think one of the reasons people are really upset with facebook in particular is because facebook is saying, you are in control of your data -- we built this for you. you own basically everything you view on the platform it is all , about you. this questioning from castor really caught at the point from zuckerberg, it is not your choice to share your data if facebook is even tracking on people who do not even have accounts. roger: i think you are exactly correct. representative castor -- that was the opposite of grandstanding. what that was was brilliantly well-informed questions from a legislator charged with protecting the public interest. we all owe her a massive note of thanks. she and literally a couple dozen other members of congress did us a public service. they exposed a lot of the

nonsense going on. representative sarbanes asked really important questions. blumenthal, senator was a long list -- senator kennedy -- when i look at this the problem here is we , were asleep. we love the products, we love the convenience, we love the ,un, we love the kitten photos but it the end of the day, in order to monetize that these , companies had to get into surveillance. it is every bit as intrusive as a spy agency would do. the difference is, they are not doing it for the national interest, but for their profits. emily: sarah, you are following up on things in the hearing that were surprising, things like cambridge university and what mark zuckerberg has to say more broadly. whether something that is happening. what else are we, the bloomberg

news team, looking into? i think one of the very important points in the testimony is that a.i. will solve everything, all these questions about whether facebook is treating its content the right way, the -- whether there are biases, whether they are taking hateful content down fast enough, they offered a.i. as a solution to that. a.i. is trained by humans with the same biases as the rest of us. it is not going to end well. emily: i want to ask roger about that after this quick break. sarah frier, thanks so much for stopping by. great work covering these hearings. thank you so much, sarah frier. coming up, would you pay for facebook? we will discuss the possibility of a subscription-based model. that is next. this is bloomberg. ♪

mr. zuckerberg: yes, there will always be a version of facebook that is free. it is our mission to connect the world and bring it closer together. in order to do that we believe , we need to offer service that everyone can afford. we are committed to doing that. emily: that was facebook ceo mark zuckerberg testifying to u.s. senators tuesday, clarifying there will always be a free version of facebook. does that mean there will be a paid version of facebook someday? roger, you have been advocating for facebook to have a subscription-based model. on one hand you have mark zuckerberg saying that on the , other hand, sheryl sandberg told me the business model is not going to change, and this leverages information we share with facebook targeted as to us in order to deliver a free version. how realistic do you think a subscription model is at this point? roger: i honestly don't know. i have been baffled by the way

mark and sheryl are looking at this problem. they seem to think only their perspective matters in this, that there is no national interest, there are no other companies that should somehow come before their own. as i look at it the beautiful , thing about facebook, because it is a giant network, their ability to implement a subscription service at low cost is really easy. in fact, they have the opportunity to be the comcast of cord cutters. i wrote an op-ed for the washington post on this very talk it -- topic. they could be the hub for everybody's media. emily: how many would actually pay for it? would it be substantial enough? roger: we don't know. i also do not think that is a concern. why is the national concern that facebook's profits keep rising? if the 2020 elections are somehow manipulated or interfered with in the same way

2016 was, we have to ask the question, why facebook? why is this not a national security interest? emily: mark zuckerberg said many times they are working on ai, several tools to prevent what happened in 2016 happening in the midterms this year. how convinced are you that it won't happen again? roger: i am not convinced at all. they have not given us any reason to be confident. they did one thing last week, which i am proud of -- they committed to implementing a version of the honest ads act, ads includes both campaign that requires explicit identity for who pays for the advertisement -- it requires true identity. that is really valuable. it only addresses a small part of the problem, but that is the first time since the 2016

election that they have done anything that might actually prevent or reduce the level of interference in 2018. i look at this and go for 14 , years, you guys have been moving fast, breaking things, apologizing, and acting as if nothing has happened. we are done with a that. now we are at the point where we have to see substantive change, and if we don't, regulators will have to step in in a big way. if i were facebook, i would embrace the global data protection regulation going online in europe on may 25. that is a very good starting point for individual privacy. on the national security thing, i don't think they are remotely prepared to do this. the first thing they have to do, they cannot have employees embedded in campaigns anymore. that was so asymmetric in 2016, it cannot be allowed again. they will have to pull themselves out of election politics the best way they can. at the moment, they provide a substantial advantage to anyone

who runs an inflammatory campaign. because facebook engagement is driven by fear and anger, things that appeal to fear and anger -- have a giant advantage in terms of reach. in trump's case 17 times as much per dollar spent because of the nature of the message he was putting out there. sense thate is a facebook and we are only scratching the surface right now. what are the chances there are many more cambridge analytica type situations out there? roger: we are going to find out. what i can tell you is i am already aware of a number of things that happened in 2016 that are not generally understood. the role that facebook employees inside the trump campaign played, the evidence is mounting that they played a huge role in the success of the trump campaign, taking data cambridge

analytica misappropriated, working side-by-side with the cambridge analytica people on behalf of the trump campaign a after there was fear of them misappropriating the data and destroying it on facebook's insistence. six months later, facebook was totally happy to be working with them a with the same data. zuck is going to have to work hard to convince anyone that was -- that they did not know it was going on. it was so public. i suspect we are going to find , moret four year period or less everyone in the u.s. was harvested dozens of times and that data is out there. we have no idea who is using it or for what. there is no way for facebook to find out because it has escaped. emily: great to hear your thoughts. roger: emily, you are the best. emily: you are the best. joining us from vancouver, thank you.

the home pod has not turned out to be the next big thing for apple. the smart speaker went on sale in january, entering a market dominated by amazon's alexa smart devices. apple has lowered sales forecast for the home pod and reduced orders with a subcontract or that builds it -- subcontractor that builds it. coming up, can we call it a comeback? bitcoin surges the most since it's december high. if you like bloomberg news, check us out on the radio you , can listen on the bloomberg radio app and on sirius xm. this is bloomberg. ♪

emily: bitcoin surged more today than it has in a single day since september. it climbed as much as 16.9 percent, closing in on here to $8,000. talk more about the jump, bloomberg's caroline hyde live from london. caroline, tell us more about what is behind this specific,

sudden surge. caroline: this surge being a 12% pop at one point. the biggest move we have seen since december. relief after what has been a four month bear market. i think there are a few reasons driving this. we have to talking about the last few days and weeks, coming to the end of the tax year in the u.s. on that could be april 17, driving selling pressure. perhaps to pay your tax after the sudden surges we saw in you 2017, are having to liquidate some of your bitcoin. that is coming to an end. that is perhaps why we are starting to see some appetite for bitcoin once again. santander is rolling out a blockchain-based payments application app. that is backed by ripple. that is a benefit for the industry as a whole. shorts are getting squeezed out. if you are putting bets against bitcoin, at one point we saw bitcoin move $1000 in under 30 minutes.

you suddenly get squeezed out of the system, you have to take on those sure bets. that could be another key driving force. all of these are being voiced by a well-known bull when it comes to bitcoin. the mood music is there when you talk about soros getting his funds into the cryptocurrency. and another hedge fund saying, $6,500? that is in the past. we could see 20,000 again for bitcoin. emily: beyond bitcoin, other things are moving. what else did you see happening in the crypto markets today? caroline: you name it, and they rose. bitcoin cash was on the up, we saw litecoin go higher ether , go higher. overall this was an all boats rise kind of story. emily: talk about what barclays is saying. they are saying bitcoin has peaked, when obviously there is optimism from others.

what is their reasoning? caroline: this really caught my eye. why? because they are using a way of strategizing bitcoin by using cancer as a way of trying to visualize it. it really struck me. the headline was quite phenomenal on the bloomberg terminal, that barclays says the rise of bitcoin is similar to the spread of infectious diseases. overall what they are showing is, like cancer, you have groups who are susceptible, groups or -- who are infected groups who , are immune. they say more are becoming immune. the amount of people out there that have heard about cryptocurrencies, have heard of bitcoin that has hit peak. , they say it is universally known now. that means there are fewer people to be convinced and buy. "we believe the

speculative froth phase is over and perhaps peak prices are behind us." i did show you that chart. we have to go back to the chart showing you that what barclays is saying, the best is behind us. technicals are showing the time to buy is now. we saw bitcoin trade above the yellow line, the 200 day moving average, a technical indicator we could see the prices push higher. emily: caroline, thanks so much for that break down. coming up, after the hearings in washington this week, members of congress are pushing bills to regulate online ads and protected digital privacy. we will discuss the regulatory risks ahead for facebook. this 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. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is

simple, easy, awesome. in many cultures, young men would stay with their families until their 40's. 1:29 p.m. in sydney. the firstallen with word headlines. singapore tightened monetary policy, changing its stance for the first time in two years. went fromry authority 0%, signaling policymakers would seek a stronger dial-up. early data shows gdp grew 1.3% in the first quarter from a year ago. korea may remove samsung securities from its list of primary dealers after its erroneous dividend payout. last friday samsung accidentally

gave employees 1000 shares each, worth 105 billion u.s. dollars, or more than 30 times the company's market value. 16 employees sold the ghost shares, creating a plunge in the stock. bashar al-assad says western threats of military action are an attempt to weaken their gains on damascus. assad said the threats only serve to destabilize the region. the west blames him for a suspected gas attack in douma. the u.s. may order airstrikes. qatar selling its first dollar bonds in years. the prospect of u.s. strike in syria, the world's biggest -- exporter issuing debt in three parts less than 48 hours after saudi arabia raised $11 million in the largest sovereign market offering.

qatar offering bids of $32 billion. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. >> i am sophie kamaruddin with a quick check on the markets. the chinese trade data is taking its toll on main markets. offshore yuan edging toward the 6.29 handle. china registered a trade deficit for the first time since february 2017. the hang seng being dragged lower by tencent. data.ne riding out the lift from getting a the financial stability report. elsewhere we are seeing gains in most markets, the nikkei 225 headed for a gain ahead of the trump-abe summit.

rupiah, rising after being rated aa2. the asianlook at markets this friday the 13th on bloomberg markets: asia. ♪ this is bloomberg technology, i am emily chang. the facebook hearings signaled the era of self-regulation for social media is likely over, and calls for more oversight over facebook is growing. earlier today on bloomberg television scott stringer, who city's fund, pushed to break up the power within the social network. take a listen. >> separate ceo and chair and add more independent directors, have more transparency, and let's get to the root of what is happening here. our democracy is at stake, and one of the biggest companies in the world we invest in is also at stake.

emily: i want to bring in robert atkinson from a washington-based think take. you see one shareholder say we should separate the ceo and chair position. mark zuckerberg holds both positions and he has more power than any ceo has ever had within a company. do you think that is going far enough or too far? robert: i can't comment on management issues in any particular company. what i can comment on is the hysteria that has gripped washington, if not beyond that, over this issue. we should take a deep breath and calm down. particularly troubling, you had a prior speaker -- roger mcnamee, proposed a european-style privacy rule in the u.s. because of a violation of a european company, is already subject to european policy rules. i think this kind of talk is incredibly risky.

itifve done an analysis at of the gdpr, and it would be very detrimental to the u.s. digital economy. very detrimental. i think we all need to take a deep breath. the other thing i would add here is that facebook has gotten in trouble because it shared data with an academic researcher who then violated the terms of the service. what people have forgotten about, facebook had a very well run and well-regarded program that academic researchers around the world -- particularly in the u.s. -- have found critically valuable to find new insights. for example, they used research to better predict when women are about to have a baby and have a baby, who is most likely to be at risk for postpartum depression. a lot of amazing research has been done in a completely privacy-protected way that facebook has engaged in. somehow we are going to throw the baby out with the bathwater, i fear. emily: hang on.

first of all, i want to know what you think this could be so damaging. mark zuckerberg said himself is good and they are going to apply as a standard in facebook around the world despite there are no laws here , mandating it. robert: i cannot speak for mr. zuckerberg. emily: that is what he said. robert: i know, exactly. i cannot speak for why he would say it. all i can show and demonstrate is, there is very clear evidence. the prior law to gdpr, which was much less onerous -- kathryn tucker, a researcher at m.i.t. did a study comparing the european privacy regime to the u.s.. what her research found is that the ad effectiveness in europe -- if you want to put an ad up in europe, it is up to 60% less effective. that is 60% less money you can

monetize in europe because of restrictive privacy rules. are we really saying we want all of these internet companies to have 60% less money? that means 60% less new features less innovation. , and gdpr -- the big area you mentioned with ai, we released a two weeks ago looking at exactly the provisions in that 200 page bill, and how it is going to negatively affect ai. if europe stays with the gdpr, we can rest assured of they will be a backwater when it comes to artificial intelligence. the legislation makes it almost impossible to use data for machine learning and analytics in europe. emily: yes or no, do you believe current laws are working? robert: i do believe current laws are working. emily: ok, ok. robert: remember, who violated the laws here, it wasn't facebook. emily: you believe current laws 87 million, yet

people may have had of their data mishandled. 2 billion people, all facebook users, potentially had public data scraped. and our elections were meddled in by a state actor, and we will never know if they swayed the outcome or not. how can you say our current laws are working? robert: let me be precise. our current laws with regards to privacy are working. the political interference issue i think is a little different. there is where either new laws or corporate agreements on practices are important. on the privacy side, the current laws are working. what happened? that researcher in england violated the law. cambridge analytica violated the law. what are we going to do? put in sharia law and say, we will cut your hand off if you do this? they already violated the law, and privacy regulation would not have changed this outcome, one iota. emily: but the cambridge

analytica situation has to do with privacy. information was taken and mishandled and that information could have been used to target people to meddle in the u.s. , election. robert: of course, and cambridge analytica broke the law. we have a law, they broke the law. why would an additional law that is more stringent make a difference? we have laws in the u.s. against driving too fast, but people drive too fast. there are going to be scoff lost like cambridge analytica and that researcher that do not obey rules and laws, and having better and stronger laws would -- will not make any difference to that. the important point to remember is that the data was used in a machine readable form. it is not fundamentally clear if any individual was harmed. what cambridge analytica did was wrong. what we have to remember, when zuckerberg talked about how they use data they match it with an ad.gorithm to an

ad then gets placed, they say, you ride your bike to work i am going to give you a bike , ad. that does not violate my privacy. emily: there's an argument that -- we will leave it there. robert atkinson, thank you. released16 data breach names, phone numbers and email addresses of its users, this according to the ftc. the acting ftc chair says the agency expanded the settlement with of the company and said the new agreement was designed to ensure that uber does not engage in similar misconduct in the future. coming up, betterment is offering wealth management with its robo-advisors. this is bloomberg. ♪

emily: tesla is taking the unusual step of withdrawing from a federal investigation of a fatal crash involving one of its vehicles. company says it did -- the safety board will not allow it to release information on the driver since program autopilot that was used in the crash. tesla was criticized for blaming the crash on the driver. looking to disrupt the tech industry going after high net , worth clients with robo advising. will this are sure more

clientele to the startup? i want to bring in john stein, ceo of betterment, with me in new york. you provide financial advice little humanth as intervention as possible. how much progress has ai made? jonathan: we have boys used technology to reduce costs and give people full holistic planning. it delivers financial advice. we also use it on the customer service inside to give them more delightful experiences. the ai in terms of what is doing to manage money is in the early stages. i think that is true in most financial services companies, which are just beginning to see the power of this. emily: what does it mean, what can you do now that you might be able to do in two years? that in au believe few years we will have the self driving cars, of course you believe we will have self managing wallets.

i can't imagine in 10 years people will still manage bounces -- balances between the checking and savings accounts. emily: that is so annoying. can be betterat done by technology than humans. it is less annoying. emily: there are larger incumbents getting into your business. does this become a commodity? jon: one thing that is exciting for us, incumbents are coming in driving attention to the space , and driving customers to it. all these incumbents are conflicted. they are selling their own products. if you go to vanguard, you expect vanguard funds, if you go to schwab, you're getting schwab funds. merrill lynch, you are getting funds they are paid to offer you. but if you come to betterment, we don't get paid by anyone. you don't get paid to sell you certain funds. the only way we get money is the fee you pay us, and that makes us unique in the robo advisor space. we are looking out for the customer's best interests. emily: do you have plans to expand?

offeringners are checking accounts and credit cards. you make at to help more of your money. i do not want to just give you a checking account, i want to give you something better, make your checking account smarter and make more money off of everything you own. that is what we do. you will not see us launch just a checking account or credit card, you will see us help you make more money. emily: how many assets do you have under management? 120% this year. i expect that kind of growth to continue. emily: how are you advising on tech, given market volatility and a lot of uncertainty over facebook? jon: it is interesting what is going on with facebook and the broader sense of wanting to regulate these tech companies. i want regulation as well.

when we get asked, i remind people we have always been highly regulated. part of the reason i got into this business is because regulation has stifled innovation for a long time, and i saw a need to break through. we are regulated by the fcc as an investment advisor and broker dealer. emily: does that same relation -- regulation need to apply to tech? jon: i think regulation needs to apply to every industry. over time, most of the tech industry is doing new things and you need new regulation to help protect consumers. emily: has what has happened in facebook impacted how you think about the very sensitive user data that you have? jon: because we are so highly regulated, we have boys had to think about data. we don't store anything that is too sensitive. your data is so important to giving you a full financial plan. think of the relationship, you would bring a shoebox full of receipts and papers and headed over to your advisor to help them make a plan -- and we automated the process and made it painless and digital and seamless.

we have to take great care with that financial data to make sure it is used in your best interest. we never sell your data or rent it to anyone else. nobody else has access to it, and we don't use any proprietary password. you have specific passwords no one else can use for your data. emily: fascinating stuff. we will check in with you in a couple years if not sooner. wework type of space, specifically for women. swapping out the keg for nursing groups. this is bloomberg. ♪

emily: there are 20 cities shortlisted by amazon as a second north american headquarters. at least one real estate fund is the tech giant,

the washington, d.c. area. estate trusteal based in arlington, virginia. they predict shares worth $40 a piece if amazon picks its neighborhood. is buying a chinese startup called naked hub is part -- as part of their global expansion plans. 4.75 billion in funding. and more than 200 buildings worldwide. but seattle started is looking , to create a wework start up space designed for women. it features a mothers -- mother's room and yoga studio with a monthly potluck. joining us is the cofounder of the riveter, amy wilson. wework seems to have a good formula. what makes you think you could disrupt that?

>> i think we can disrupted because we need to. i built the riveter because i needed it. a litigator, but i had experiences that are common to so many women in the country. emily: like what? >> i had children, and when i was on maternity leave i talked , about a promotion with my current job, and it did not seem like the right opportunity. i was struggling. corporate america is built by and for men. like many women, decided instead of opting out, i would opt in by starting a business. when i talked to women entrepreneurs, i cannot find a platform. that is where the idea for the riveter came from. emily: how is it different from wework? tydid not realize how frat wework can be. of work isture

changing so quickly with technology. we know millions of americans will work remotely by 2020. the future of work is still defined by men. they are founded by men run by , men and even corporate boards are all men. at the riveter we are female forward. we are built out to support women who are growing businesses, from big companies to women who are living solo , practice and returning to work after having spent time with kids. we have amenities built for women. emily: there are other startups rking startups. a of them do not allow men. you do. why? amy: we take the approach we want to change the world for women, and to do that it necessarily involves all genders in the conversation. if you look at venture capital funding, men are about 89% of the venture capital investors. we need them to be part of the conversation. from a practical standpoint, we have so many exciting startups

in our spaces founded by women. they also have the men on their teams. women-onlynk practices are incredible and doing something powerful in the market. legal as a woman in the field, you are coming into tech, women account for 7% of investors, and women get 2% of funding. which industry is worse for women? amy: i think the meta-point is that we live in a world where corporate america was built decades ago where women were not in the position of leadership in the workplace, but today we have inherited the setting, from setting the temperature for men, to the tech space. emily: but tech is new. amy: tech is new, but we can't upend everything in one day. but we have to get together and say, how do we move this forward? women venture capital investors

banding together to move forward. investors will get involved in that conversation. emily: real estate is expensive now, what are you doing about that? amy: with a real estate in the , early stages of a startup, we look for opportunistic ideas. we go into spaces where we do not have to do much of a buildup, where we can come up with creative solutions. we use a lease model, like many companies. emily: amazon is one of the biggest employers in seattle, now they are going elsewhere. i am curious what is happening in the seattle tech scene. how is that shaking up the talent pool? among the people you see. amy: the seattle tech scene is incredible. emily: but amazon is leaving? amy: amazon is not leaving, they are adding to their portfolio. emily: isn't it not good for the city of seattle for amazon to leave? amy: i do not think amazon is leaving, they are just getting a

second home because they are so big. over 100 women in seattle who have started companies at venture scale. that is what is exciting about looking towards tomorrow. emily: what is next for the riveter? you are small now, there is big competition out there. how do you take on a multibillion dollar giant? think we take on the giant because women need to. 471 more women for venture companies. emily: doing math live on the air, that was amy nelson, thank you so much for joining us. that does it for this edition of "bloomberg technology". a reminder we live on twitter and check us out. that is all for now. this is bloomberg. ♪ welcome to the xfinity store.

i can tell you about... streaming the most free tv shows and movies on the go. yeah, and... xfinity internet. it's so fast! and you can save by... by getting up to 5 mobile lines included. whoa, you're good. i'm just getting started. ♪ simple. easy. awesome. come see how you could save $400 or more a year with xfinity mobile. plus ask how to keep your current phone. visit your local xfinity store today.

announcer: the following is a paid presentation for the theraworx relief. with dr. drew pinsky. >> if you are one of the millions of americans who suffer from muscle cramps in your legs and feet, relief is finally in sight. hi, i'm dr. drew pinsky. today i'm here to shared news that got me excited when i first heard about it. it is called theraworx relief. this life-changing product is clinically proven to quickly relieve muscle cramps and also prevent muscle cramps bere