♪ driverlessng up, cars are the next frontier but there is a controversy brewing within the industry about how to keep them safe. we hear from john chen who expect the driver to monitor them is a rational. in robin hood, we discussed the rapid rise with the cofounder. russian facebook

ads are made public for the first time, showing their main goal is this content in the united states leading to the election of donald trump. first to our top story. house is hosting a vicious from 40 companies on a summit on artificial intelligence and plenty of tech giants got the invitation, coming facebook, amazon, alphabet, microsoft, and more. eyea's plan to dominate the by 2030 and the are not the only country with a national strategy on ai. canada have announced plans to tackle the field. technology,vers spencer,'s is the first time amazon is going to the white house since those tweets from president trump shooting barbs at the company.

what is the state of tensions and we expect this will ease them? >> there are signs of tensions re was the in the first lady who released her initiative of anti-bullying and anti-opioid campaign. andon up a shutout at that, along with that, a gesture with the first lady's initiative seems like there could be a cooling of the tension. emily: is there a signal from anyone other than the president within the administration that amazon in particular has something to worry about? is regulatory concerns about the tech and amazon is not been with that. theyn the postal service

it appears to have been settled, but who knows, it is so erratic and it seems we are what washington post headline away from another trump tweet. emily: what's to know about this meeting? >> we have 40 companies from high-tech sectors and lots of industries are going be implementing ai and they are hearing from the white house tot we are not rushing into regulate what you are doing, go out there and develop and we didn't cut the first online before alexander graham bell made the first phone call, we are past that, but that is the message we are hearing. expectingt are we with regards to u.s. competitiveness with other countries like china? waysina is in a lot of

animating this whole conference and it is unclear to me how much that is work to be the focus of these individual make out sessions. the agenda focus is on applications and sectors like energy or logistics. there's no question the white house is feeling pressure here to make sure america stays competitive. we feel we are first but the pressure that you and i hear a lot from the industry is we are worried are going to lose our advantage in the coming years. emily: when it comes to ai in particular, talk about what amazon might be pushing for with respect to other tech companies like google and facebook and apple. spencer: amazon what's to steer the conversation towards how ai is beneficial and get it away from this notion of job killing robots. in particular what they want to do is try to impress upon the ai andent, the need for

health care innovation. they have a lot of cloud solutions that are embraced by health care startups and technology companies, and that is an area that is subject to heavy government scrutiny and regulation. they will try to message how ai will be used to save lives and prolonged lives and reduce hawker costs. talk about the state of ai regulation or the lack thereof. part of the problem is real regulation could be years away if it happens. ben: the almost everybody i have they say this is years away. with a think a lot of companies are looking for is two things. how good is standards, does the ai need to be and what does it need to do? the other thing they are looking for is to understand how the current regulatory environment. spencer and should health care,

how is that going to apply if ai is making decisions about your health or aiding in diagnostics? to know industry wants is how exactly to think about those issues before they look at any kind of new, broad-based ai relation act. emily: you know some much about how much these companies are what they're are asking for and what kind of many are spending. lobbyings about how efforts have changed or evolved under the trump administration. ben: see this interesting aspect of lobbying, people closer to the white house in a way they witht -- and certainly obama when friends the tech sector companies in these countries increasingly going to the white house and to the vice president's office. issuek that is a major you are always seeing increasing spending in these things.

the other think you are seeing is they are going to the white house and looking at these court issues. hugegulation training is a place where i think the white house and technology really get together, even as he seesspencer is talking about the washington post tweets and concern that tech and the white house are going head-to-head on issues like immigration or other social policies. spencer thank you so much,. listen. of ai, take a hi, i would like a table for wednesday at 7:00. for seven people? people. for four

that: it sounds innocuous, call was made with a real-life andon at the restaurant, ai. professor and frequent tech critic tweeted that it was theseying and we heard robotic voices should always sound synthetic instead of human and this could lead to a destruction of trust. this has led to calls for programs like duplex to identify themselves before booking future dining reservations. ceong up, blackberries joins us next. issues a newachs credit card and white are moving away from barclays. this is bloomberg. ♪

emily: in the last few weeks three self driving cars have crashed in the united states waymo, andvuber, tesla vehicles. --people have been killed two people have been killed. fromberry is moving hardware to software and part of its future is an automotive chenware and john joins me now here in the studio. what is a rational about it?

conversations about self driving cars and this idea as long as i have a driver at the wheel, they are safe? that defeats the whole reason of having a car that is self driven. laughable to talk about putting a passenger or person there to manage a self driven vehicle. what does that mean altogether? think most of all, fatalities and accidents are caused by humans. 1.3 million fatalities every 50r around the world, million people getting hurt and 90% of that is because of people's errors, human errors. we need to perfect the and not do a patchwork and put a driver and the car to manage a self-driving car.

it sounds funny to me. isly: clearly the technology not safe enough yet, but not having a driver at all sounds scarier. john: true. first, let's talk big picture a little bit. it is never good to have a fatality with a self-driving car. show thattatistics today's car, although still very hand, itn the other saves a lot of lives. let's say you cut fatalities people half, 600,000 have saved their lives -- then you argue about stopgap solutions. if it takes longer it takes longer, but you have to go full steam ahead on the safety and

security side. emily: is it ideal not have to is in there at all? thathink even if they are, there should be no driver in the car? need humando not intervention and i hope that is the case. emily: can we get there? 2021 ors, it might be 2025 different managers talk about when they will release the car. we should take time, as the technology and automotive sector should take the time to get it right. emily: and are their privacy concerns? john: when argument is about monitoring and i think that is a deep concern. anytime you put data on accessibility whether internet or whatever it might be, it hole.es that who

concern,lso an area of but i am back to the original think that it is a great idea. if whenwhen and not cars are given safely. will not be zero accidents but we hope it will cut down a majority of auto the counties. -- auto fatalities. >> you need a federal standard because that will get away from a lot of states conduct with different initiatives and how they work towards it. caution is the name of the incas were talking about people's lives and that is what we have always said and that is what we continue to say. emily: what would you like to see happen with regulation? making am a big time, sure the private sector's themselves regulate first.

i think it is up to us to .evelop standards we will suffer regulate first and then have a partnership relationship with the government, with it is the department of transportation or wherever the agency is, and create a standard and establishing minimum safety standards so the consumer can trusted. it. emily: talk to me about blackberry. your software is installed in numerous cars, what is your role here? john: we provide software components. we branch into clusters and safety stuff, and that is our role. car andthat connected eponymous car a reality and help develop that. you think the

opportunities are because software is going to become more powerful and cars themselves as this shift happens? john: the opportunity is huge. this is not only about cars, it is about anything economists as a marriage of the future of robotics, big cloud, big data security, well focused on solving problems to make sure that when you develop the car is secure in leaving the country and how do you make sure the car while being used is not being attacked. facets ofmultiple life cycle that needs security and safety. ongoinghuge opportunity. emily: there are so many companies chasing these opportunities including carmakers. you think we will see m&a here? john: there are a lot of

companies, big and small, working on it. unavoidably in the future that will be a consolidation of but is and i do see m&a, don't think it is as immediate that's most to think. by tier one, google and tesla or gm and ford? one: the traditional tier is harmon, lg, panasonic. those are the tier one. they manufacture themselves and start to become their own tier one. with haven'ts car, gotten into a discussion of planes and drones and nothing else. just the car is humongous. this is a computer on wheels on

the move. emily: if a company is to wait or dominate, who has a better chance, technology or car manufacturers? john: are like to see a collaboration but the car manufacturer will have a big say in it. emily: any updates on your losses with facebook and snap with infringing on your messaging platforms? can't comment on ongoing lawsuits and all these things take a very long time. emily: john chen, thank you for joining us. coming up, we speak with uber ceo and head to the berkowitz -- thein los angeles uber elevate summit. this is bloomberg. ♪

emily: snap ceo is coming the top spot of an elite group of corporate leaders and received a half billion dollar pay package when snape went public and makes him the highest-paid executive of a publicly traded u.s. company. the top and work in private equity or technology and receive compensation exceeding $100 million and only for women crack the top 100 of that index. uber hopes to get its self driving vehicle on markets and, a self-driving vehicle killed industry and in phoenix. dara khosrowshahi joined us at the uber summit. this problem that i get

that safety has to come first. as it relates to that tragedy we have grounded our autonomous fleet, and that is a decision we made. >> any sense when you will be self driving again? don't know, but the time will be right when the time is right because we are doing a top to bottom safety review both internationally and with independent folks coming in to take a look at our culture of practices, so when we get back on the road we all know as a team we are getting back on the and as safe as possible irresponsible way as possible. -- and responsible way as possible. it hits home how important safety is and how to engage with regulatory partners and various players who have played this game and have worked in the safety environment for a long time and established long track

record of success here. we have to learn here. can you tell us about the status of the investigation? dara: is ongoing and we are working hand in hand with them and give you data we need and will not tweak ahead of their findings. [laughter] >> elon, take note. there are reports that this is a group moving fast to meet benchmarks and deadlines by the end of the year. with do take away from that as a move forward, and do you set ambitious goals we heard here. dara: we can't sacrifice safety. life,are trade-offs in and they do think you have to be aware of unintended consequences in anything you do and there is

a balance which is what the push seems to be ambitious. want to push them to innovate. want to get teams to be uncomfortable but at the same time you really have to check yourself and go back to the first principles and ask yourself, are we doing the right thing? are we pushing too hard? and is it coming at the cost of safety? if it is, then you have to take a step back. one of the unique characteristics is we are a core technology company and as our root. we will live because of the talent of the technical people we have in our offices. makes us different is a technology company is we don't --t heal in bits and bytes deal in bits and bytes. to create anough

delightful digital experience when you push a button and something happens. what is harder is when you push a button and a car shows up. aaffic can get in the way, driver may decide to do something else, or you push a button and a burger shows up. to make the experience delightful, dependable, affordable, is a very big challenge. idea of beingthis a company that pushes forward and a company that challenges the status quo but understands we don't just live in a digital world, we live in a physical world. that comes with compromises and responsibilities that we have to be aware of. emily: that was bloomberg ceo dara khosrowshahi speaking with brad stone. robin hood is aiming

at one of wall street's oldest industries, the brokerage firms. we hear from one of the cofounders next. this is bloomberg. ♪

in a few short years robin hood has grown into a raiseduse and has over $300 million, and in the meantime project caps on doubled more than 4 million. we are joined by robin hood cofounder and ceo, baiju bhatt. what is next in the pipeline? a lot of things is in the

pipeline it is exciting to see the company go from 2015 when we wherelaunched to today, we are in full featured investment platform. this is a huge round of financing" of confidence and you will see it go to a full-featured financial services. emily: talk to me how you compare not the established players like e*trade. to see ourre excited growth is staggering and we have doubled the number of accounts and we have crossed e*trade in terms of actual brokerage accounts. we have over 4 million people using the platform and e*trade is 3.7 million. the amazing part is our company is still incredibly lean and efficient with only 200 employees versus e*trade will have over 3000 people. during this time we launched major upgrades to the product. surpassingsee -- ucf

e*trade when it comes to profitability? the focus is on building great products and make sure more and more people use it and letting our mission guide a lot of our decisions, which is straightforward and make the financial system more accessible and make it easier for people independent of how much money they have to be able to be at top of it. emily: which you ever watch consumer financial products like bank accounts? the real question is if we launch this part is how could we make it so much better than what is out there? this special to people talk about, if you were to put what we had next to what is out right now, a consumer result they choose what is out there right now without saying i make a mistake. emily: what is to stop e*trade

or schwab from offering trading for free at a very low cost? they already lowered fees significantly. baiju: it is a fundamentally different business, while it is theoretically possible they could do such a thing, i don't think it would make very much sense for their business or customer base. i think as more time goes by, we become a more credible company and become much more established and i think we are happy with where we are. emily: we talk a lot about data privacy, you ever sell customer data? baiju: we do not. emily: do you foresee selling data? baiju: we do not. with treasury department, he named them, work with them, and ours right guidelines of how we do with customer data so we are tightly bound by that stuff and we shared with the regulators on an

as needed basis but we are serious about security at our company. with are doing a very good job at a given we are a technology company from the ground up that can actually fill engineering solutions. it?y: no hedge funds see baiju: now. . cryptocurrency -- warren buffett called it rat poison squared. established investors and business men there saying this could be a house of cards. baiju: there is a lot of potential with crypto, and the future is a place where crypto will be a substantial part of it and there's still a lot of work to do and the broader crypto industry needs to do to both meaningful use cases for the in society. right now is functioning as an effective store value, but i do

think that is what is going to end up being an is going to be more than that. emily: is warren buffett rock and bill gates wrong? baiju: i'm not going to say people are rock but the future holds interesting stuff out there. emily: given the uncertainty and the potential regulation? baiju: the regulation is something we are well accustomed to doing and where established as a broker dealer and work with regulators regularly. regulation and that will actually be something that makes it more stable and more useful for people. i think you will continue to see our product of all and a first order of business is to get it out to everyone and once we get there will take a look at how we can do things like support more available. it it is tbd. emily: you have 4 million

accounts, what can you tell us about the demographics of your user base and how is it evolving? baiju: it continues to be a part of the younger population and i foresee us as being the core demographic for the foreseeable future. company is goal as a over the long call to have a meaningful impact on wealth distribution. the place to start is the younger audience. emily: you want to attract more established an older investors? baiju: absolutely. are in a certain time politically and there's a lot of volatility in the markets. how does that impact your view on the road ahead? there is so much going on. baiju: i heard very one good piece of advice on how to think about this. black points in time,

swans are flying around and they don't mind often. emily: these are really take black swans. a trade war. baiju: all very reasonable. we are going to do our part to make sure our systems work very well and whatever happens long-term, the u.s. economy is going to do very well in effect we have such a young audience using our product is interesting in this capacity because if you are investing today and you are 25 or 30 years old, your retirement is a lot time away and you need to have liquidity for that purpose. it is not in the next five years. emily: so is ideal? baiju: the question. is something we're certainly thinking about, but let's leave it at that. , thank you sohatt much for stopping by. the public can now see thousands

in the causeosts discord from the 2016 elections and what does it mean for elections to come? this is bloomberg. ♪

emily: more than 3000 russian facebook ads were made public, and the disclosure give you insight into the tactics russians used to create discord bidding up to the 2016 presidential election and data on how many people they reached. on to bring in sarah frier cover forest and caroline hyde from london.

sarah, what do we learn from these ads? had a few examples, we had a handful of them and now we have more than 3500 of them. oneg through each and every when this was released, it was incredible demonstration of russia's financial investment in stirring up controversy in the united states. bes is not a big campaign compared to the campaigns of hillary clinton or donald trump, this is a drop in the bucket for facebook but it went undetected and is so interesting to see people hitting against each other on issues that are faultlines in american society exposed by russia. emily: caroline, facebook has a lot of work to do with his relationship with lawmakers around the world, especially in

the u.k. how does this new information change that? caroline: there's an ongoing investigation as to whether social media in general was used to perhaps manipulate the he eu referendum brexit vote. some politicians have felt it is hard to believe when the citi open was in front of lawmakers weeks ago in the u.k. of saying we think it is only one dollar and we might have missed something, and it is interesting that yesterday we saw google and facebook tried to step in and ensure that is not any money to spend around the irish vote on abortion.

this is a referendum going on in foreign and they banned buyers from that in any advertising on that vote. that is something politicians are concerned about. we talk about the primary skidding off in some states come up with is it me for the election coming up neither this year -- later this year. noth: officials are supposed to interfere in our elections, but there's a small part of this larger campaign by russia to influence was politics. 150 million people on facebook and instagram so post russia. andhat going to continue are safeguards in place to prevent it from getting bad? what they are doing with ads, is this going to be implemented with regards to fake news and

regards to some of the other tools russia has been using to stir up trouble in society? we have seen it happen with mass shootings were fake news has been spread linked to russia. these companies are coming up with solutions but are they fast enough to impact the elections? emily: and there is a new story today of how terrorism is creeping up on facebook. sarah: issues like terrorism or election manipulation is a whack-a-mole problem. even though facebook is getting better, artificial intelligence is getting better in identifying isis and al qaeda terrorism propaganda, there are posts from so many other terrorism groups that are easily searchable on facebook. facebook took some of them down but this is an example of how the company's be more proactive in looking for the things that

could be a problem for users. emily: and assess global implications and potentially routes to some of these problems in other countries. and perhaps advertising. >> we are awaiting the launch of alcon that is set to deliver new technologies to bangladesh and the spacex is set to launch what is the final alconon of its f rocket. launch. after the land. will attempt to

we are in minute or so away from the launch. the weather is looking good and we had a delay of 90 minutes from the original launch. we are looking at live pictures as we get ready for this launch. >> just seconds away and this is a block five version of the falcon9. is going to be used 10 times, and elon musk has said repeatedly that he is innovating on this rocket that is reusable. and that has brought down the cost of these rockets to a fraction of what others have produced them at. where less than a minute away from the launch. haidi lun just mentioned for launch to get- bangladesh axis to upgrade

access, and there is separation after this launch. apparently this rocket can be used 24 hours later. part, ass the crucial lunche 70% of the total coming from that booster. we are looking at why that caps on has stopped for now and we're monitoring the situation. we are a minute or so away from the launch and weather conditions appear to be good. where looking at an 80% chance of this launch taking place. there is last-minute issues being irate out let's go to joe weisenthal joins us from los angeles. to us what is special about this and what makes it the final version for this launch? that theearing now

launch has been canceled. we get our answer to why the countdown has stopped. much or what the reason is, weather is possibly one of the issues. earlier, the about enthusiasm was in part of getting the opportunity to see the return of the rocket, which is an incredible breakthrough. we will find out what is going on shortly with why this launch has been canceled. betty: it might have been computer issues that is being reported right now why that launch has been aborted. the headline was seconds away from launching aborted here. about why a little

this was particularly important for spacex? we see a lot of these launches in the u.s. and they continue to be a moment of awe . this is a satellite for the bangladesh market extent of potential scope for the cheaper satellite launches, not just in the u.s., but potentially something that could be massive around the globe in africa emerging markets. -- in different emerging markets. one of the spacex rockets blew launch, so not particularly surprising they want to be careful unless conditions and the situation are perfect.

haidi: we continue to watch the developments in with expect the launch to happen, but that has been aborted and we are hearing about computer issues. know that if there was a delay, which clearly has been, they may try again on friday. the last information is they could try a quarter past 4:00 eastern time on friday. anticipation going into this launch. the satellite is expected to bring internet, tv, radio, phone services, to bangladesh and other countries as well. we have more than 50 missions ince spacex made its debut 2010 and this is expected to be the final and most advanced

version of its rocket. the next iteration is the big falcon rocket. don't want to lose the point this is one step closer to elon musk's dream of putting toople on a rocket tom mars. tos company is expecting launch 30 of these expect to have a master not on this rocket ship, and that leading one more step to that space flight or space tourism that elon musk talks about and captures the imagination of the world. in order for that to happen, it has to be more than spacex, right?

musk is not elon the only billionaire who has space ambitions. think the data point cannot the other day that jeff bezos is spending $1 billion of his own money per year for his rocket .enture, into origin the space race is on. the he talked to analysts, spacex financial condition and business model and financial condition is believed to be pretty sound and reasonable. rocket launches are expensive but the business model is believed to be pretty good as the costs come down. where used to these yunnan musk ventures, -- elon musk ventures particularly tesla, and people have high levels of skepticism if he will pull it off and is

seen as a huge high wire act if he is going to be able to deliver the mass-market electric car of the future. with spacex there is a perception that the company is on a much more sound footing. end, none of these are lately discrete entities and the idea that one day rockets will be firing up tesla cars that will be driving around mars and charging those cars with solar panels, all part of the vision. painted elon musk's dream of the future he wants for humanity. i want to point out in terms of where we are, we await confirmation for what caused this launch to be aborted. for now we had the countdown

clock setback. where looking for details if the relaunch could happen today or rescheduled for tomorrow. at 22 minuteses past 6:00 so the window is still open and we are waiting to get more details. but there are computer issues at fault causing the initial 47 minutes. joe, is spoke about tesla and bringing together these two businesses and visions that elon musk has. it is running the same way because tesla customers are used to getting boosters and improvements of software updates to electric vehicles and the same weight and the same way engineers of spacex are making tweaks and improvements to the falcon rockets to get to this point, which is meant to be the final version, highlight the

most important thing they want to achieve, to get the cost down of the project. earliers you mentioned about this launching a boarded, there is other windows for the next launch on friday. there are other lunch dates but -- thereconfirmation are other launch dates. on to bring on the personality of elon musk, noted at one point how stressed he was ahead of this launch. i can only imagine each time this happens how stressful it is in a boarding this -- aborting this would leave anyone in a high stress situation. joe, you mentioned this rivalry

between elon musk and jeff bezos. tell us what jeff bezos is doing blue origin. could there be partnerships here? getting rockets into space, what is one striking difference musk is and compress and whether it is tesla or the rocket, it is part of the even watchinglon, the stock is a fascination with a lot of tesla fans and his friends. you get this fight it is all the vibething -- you get this it is the same thing. recap, the rocket

launch to the ipo -- satellite has been aborted for now and will get details as it becomes available. stay here with us on bloomberg. ♪

>> u.s. stocks rebounded to a seven-week high as the dollar c-suite conflation and no speed up of rate hikes. >> on the economy, the malaysian prime minister is commenting a business from the government and says hedge funds role over the eb scandal. in singapore, president trump conferences summit with kim jong-un will happen there on june 12. >>