♪ emily: i'm emily chang this is "bloomberg technology." coming up, driverless 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 thinks expecting the driver to monitor them is even rational. plus, investors for more than $3 million into the robin hood latest funding. we discussed the rapid rise with the cofounder.

and a troll of russian facebook ads are made public for the first time, showing their main goal is provoking discontent in the united states leading to the election of donald trump. first to our top story. the white house is hosting a -- officials from 40 companies on a summit on artificial intelligence and plenty of tech giants got the invitation, including facebook, amazon, alphabet, microsoft, and more. on the agenda, addressing national research development in the field of ai and the impact on workforce regulation and innovation, and china's plan to dominate ai by 2030 and they are not only country with a national strategy on ai. france and canada have announced plans to tackle the field. we bring in ben brody who covers technology and spencer who covered amazon for the first time they are going to the white house. since those tweets from president trump shooting barbs at the company.

what is the state of tensions and do we expect this will ease them? >> there are signs of tensions easing and in addition to the invitation, there was the first lady who released her initiative of anti-cyber bullying, and anti-opioid campaign. amazon got a shout out during settled forzon has now along with that little gesture 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 himself from within the administration that amazon in particular has something to worry about? >> there is regulatory concerns about big tech and amazon is lumped in with that.

on the postal service thing, it seems to have settled. but who knows. it is so erratic and it seems we are one washington post headline away from another trump tweet. emily: so, bang, what do we know about this meeting? >> we have about 40 companies from high-tech sectors and lots of industries that are going be implementing ai and they are hearing from the white house that we are not rushing into to regulate what you are doing, go out there, 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. emily: what are we expecting with regards to u.s. competitiveness with other countries like china?

ben: china is in a lot of ways 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. i think there is no question that the white house is feeling pressure here to make sure america stays competitive. we feel that 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: spencer, when it comes to ai in particular, talk about comes to ai in particular, talk -- spencer, 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 once 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 government, the need for ai and health care innovation.

-- in health care innovation. they have a lot of solutions cloud solutions that are -- 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. and that part, i think it will make a message of how ai will be used to save lives and prolonged lives and reduce hawker costs. -- reduce health care costs. that sort of thing. emily: 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. right? ben: i think that is exactly right. the almost everybody i have talked to, they say this is years away. with a think a lot of companies are looking for is two things. the first is standards, how good 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 mentioned the regulatory aspects of health care how is , that going to apply if ai is making decisions about your health or aiding in diagnostics? i think what the industry wants , to know is how exactly to think about those issues before they look at any kind of new, broad-based ai relation act. -- regulation act. emily: you know so much about how much these companies are lobbying congress what they're , are asking for and what kind of money they are spending. talk to us about how lobbying efforts have changed or evolved under the trump administration. ben: you see this interesting aspect of lobbying, people closer to the white has administration. and certainly with obama when friends the tech sector companies in these countries increasingly going to the white house and to the vice president's office. i think that is a major issue . 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. ai regulation training is a huge place where i think the white house and technology really get together, even as you see those things that spencer was 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. emily: ben and spencer, thank you so much. speaking of ai, take a listen. [ringing] >> hi, i would like a table for wednesday the >> for seventh. seven people? >> it is for four people. >> for people? when? tonight? --wednesday at six per

wednesday at emily: it sounds 6 p.m.. innocuous, that call was made with a real-life person at the restaurant, and ai. it is called duplex. it calls for a table complete with arms and pauses of a real life human. tech watchers have not all enjoyed it. professor and frequent tech critic tweeted that it was horrifying and we heard these 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. coming up, blackberries ceo joins us next. later this goldman sachs issues hour, a new credit card and why they are moving away from barclays. this is bloomberg. ♪

emily: in the last few weeks three self driving cars have crashed in the united states involving uber, waymo, and tesla vehicles. two people have been killed. blackberry is moving from hardware to software and part of its future is in automotive technology. john chen joins me now here in the studio. what is irrational about this?

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

self-driving car. it sounds funny to me. emily: clearly the technology is 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. but, the statistics show that today's car, although still very unsafe, on the other hand, it saves a lot of lives. let's say you cut fatalities down by half, 600,000 people 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 to not have drivers in there at all? you think even if they are, that there should be no driver in the car? john: they do not need human intervention. yes, i hope that is the case. emily: can we get there? john: yes, we will. it might not be until 2021 or different managers talk about 2025. 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: yeah, one of the arguments is doing monitoring and i think that is a deep concern. anytime you put data on an accessibility whether internet or whatever it might be, it creates that hole.

it has been talked about the time in the last six months. i think also an area of concern, but i am back to the original thing. it is a great idea. it is a when and not if when cars are given safely. it would not be zero accidents, but we hope it will cut down a majority of auto fatalities. hasy: the president of audi this to say about regulation which i do want to ask you about. take a listen. >> you need a federal standard because that will get away from a lot of states coming up with different initiatives and how they work towards it. caution is the name of the incas -- name of the game because we are talking about people's lives. 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? john: first of all, i am a big time, making sure the private sector's themselves regulate our self first.

i think it is up to us to develop standards. standards that they will adopt. we will suffer regulate first and then have a partnership relationship with the government, whether it is the department of transportation or wherever the agency is, and create a standard that establishes minimum safety standards so the consumer can trust it. that is what we would like to see happen. emily: talk to me about blackberry' role in this. your software is installed in numerous cars, what is your role here? john: we provide software components. we used to provide entertainment system and now we branch into clusters, and safety stuff, and that is our role. that is our role. we make that connected car and autonomous car a reality and help develop that.

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

companies, big and small, working on it. unavoidably, sometime in the future, that will be a consolidation of markets and i do see m&a, but i don't think it is as immediate as most people think. emily: by tier one, google and tesla or gm and ford? john: interesting. the traditional tier one is harmon, lg, panasonic. those are the tier one. gradually, they manufacture themselves and start to become their own tier one. so we know, the autonomous car, we haven't 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 -- win or to dominate, who has a better chance, technology or car manufacturers? john: i would like to see a collaboration but the car manufacturer will have a big say in it. emily: you know i have to ask, any updates on your losses with facebook and snap with infringing on your messaging platforms? john: i 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 's ceo and head to the berkowitz summit in los angeles -- the uber elevate summit. bloomberg tech's livestreaming on twitter. @technology. this is bloomberg. ♪

emily: snap ceo is claiming the top spot of an elite group of corporate leaders and received a half billion dollar pay package when snape went public and makes -- when snape went public and makes him the highest-paid executive of a publicly traded u.s. company. the top 10 work in private equity or technology and receive compensation exceeding $100 million and only for women crack -- four women crack the top 100 of that index. uber hopes to get its self driving vehicle on markets and, but a self-driving vehicle killed industry and in phoenix. dara khosrowshahi joined us at the uber summit. >> for us, i think it brought

home the idea that safety has to come first. as it relates to that tragedy we have grounded our autonomous a decisionthat was we made. >> any sense when you will be self driving again? dara: i 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 road as safe as possible as responsible way as possible. it hits home how important safety is and how to engage with -- how important it is to engage with regulatory partners and the various players who have played this game and have worked in the safety environment for a long

time and have established a long track record of success here. we have to learn here. >> can you tell us about the status of the investigation? dara: it is ongoing and we are working hand in hand with them and give you data we need and will not tweet 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. what do you take away from that as you move forward and set ambitious goals we heard here. dara: we can't sacrifice safety. that is easy to say, right? there are trade-offs in life, think you do have to beware of unintended consequences in anything you do and there is a balance which is

what the push seems to be ambitious. you want to push them to innovate. you 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 of uber is we are a core technology company and that is our root. we will live because of the talent of the technical people we have in our offices. but, what makes us different is a technology company is we don't just deal in bits and bytes. we are at this intersection of the digital and the physical world. it is hard enough to create a delightful digital experience

, push a button and something happens, but what is harder is when you push a button and a car shows up. traffic can get in the way, a 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. and, that is where this idea of being 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 that comes with responsibilities that we have to be aware of. emily: that was bloomberg ceo dara khosrowshahi speaking with brad stone. coming up, 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. ♪

emily: this is bloomberg technology emily chang in san francisco. in a few short years robin hood has grown into a powerhouse and has raised over $300 million, and in the meantime project caps -- meantime, the brokerage accounts have doubled to more than we are joined by robin hood $4 million. cofounder and ceo, baiju bhatt. a lot of product launches over the last 12 months, what is next in the pipeline? baiju: a lot of things are in

the pipeline it is exciting to see the company go from 2015 when we first launched to today, where we are in full featured investment platform. this is a huge round of financing and a huge vote 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. baiju: we are excited to see our growth has been 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. they have aso

market cap of about $15 billion right now. company ofbecoming a that size or surpassing them when it comes to profitability? -- all of of the its those things are in the future but the focus right now 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 pretty straightforward and make the financial system more accessible. make it easier for people independent of how much money they have to be able to be at -- be a part of it. emily: which you ever watch -- launch consumer financial products like bank accounts? emily: all things we are looking at -- baiju: all things we're looking at. the real question is if we launch this part is how could we make it so much better than what is out there? this threshold 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 have been talking a lot about data privacy, do you ever sell customer data? baiju: we do not. emily: do you foresee selling data? baiju: we do not. emily: does anyone have access to customer data? baiju: we are tightly regulated working with the fcc, treasury department, you name it, we work with them. there are strict guidelines on how we deal with customer data so we are tightly bound by that

stuff. we shared with the regulators on an as needed basis but we are serious about security at our company. i think we are doing a pretty -- very good job. we are a technology company from the ground up that can actually fill engineering solutions. emily: no hedge funds? baiju: no. emily: bill gates said he would chart cryptocurrency and bitcoin if he could. warren buffett called it rat poison squared. you have 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 -- to build 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 and bill gates wrong? baiju: i'm not going to say people are wrong, but the future holds interesting stuff out there. emily: how will we see your crypto products evolved given the potential regulation? baiju: the regulation is something we are well accustomed to doing and we are established as a broker dealer and work with regulators regularly. i think we welcome more 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 evolved. 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 coins, make it available in more interesting use cases. it is tbd. emily: you guys launched as a startup and now you have 4

million account. 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. there is something like 75 million people in this demographic, and i think our goal as a company is over the long call to have a meaningful impact on wealth distribution. the place to start is the younger audience. emily: do you want to attract some of these more established investors or older investors? baiju: absolutely. emily: we are in a very uncertain 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. at all points in time, black swans are flying around and they

don't land often. emily: these are really big black swans. a trade war. baiju: all very reasonable. i think, 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 and the fact we have 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 -- a long time away and you need to have liquidity for that purpose. it is not in the next five years. emily: so when is the ipo? baiju: good question. it is something we're certainly thinking about, but let's leave it at that. emily: baiju bhatt, thank you so much for stopping by. baiju: thank you. emily: coming up the public can , now see thousands of facebook

posts by russia to ramp up 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 leading up to the 2016 presidential election and data on how many people they reached. we bring in bloomberg tech sarah frier and caroline hyde from

london. sarah, what do we learn from seeing these ads? that we didn't know before. >> before we had a few examples, we had a handful of them and now we have more than 3500 of them. for me going through each and every one, when this was an incredibleas demonstration of russia's financial investment in stirring up controversy in the united states. this is not a big campaign be ing compared to the campaigns of hillary clinton or donald trump, but 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 -- it's 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 outcome of the eu referendum here in the u.k., the brexit vote. facebook continues to say that only one dollar was spent by russians in advertising around the brexit vote here in the u.k. and some politicians have felt it is hard to believe when the cto was in front of lawmakers weeks ago in the u.k. of facebook, saying we think it is only and we might have missed one dollar something, and it is interesting that yesterday we saw google and facebook tried to step in and ensure that there is not any money to spend around

the irish vote on abortion. this is a referendum going on in ireland, and they banned foreign buyers from that in any advertising on that vote. clearly, it is something politicians are concerned about. emily: sarah, we have obviously talked about the primary skidding off in some states come up with is it me for the -- primaries kicking off in some states come up with is it me for the election coming up later this year. sarah: officials are not supposed to interfere in our elections, but there's a small part of this larger campaign by russia to influence was -- u.s. politics. 150 million people on facebook instagram saw posts from russia. is that going to continue and 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. it is constant in 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 increasingly creeping up on facebook. sarah: right. they see these 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. we found them, we sent them to facebook, they took some of them down but this is an example of beow the company needs to

more proactive in looking for the things that could be a problem for users. caroline, this is global implications and potentially routes to some of these problems in other countries. caroline: and perhaps advertising. bots have been at work when it on theo perhaps the vote general election held in the u.k.. there has been reporting with the sunday times and united kingdom that russia was helping focus attention on the opposition party. claiming some 6500 russian accounts on twitter were backing the labor politician and labor rather than the party that has been in parliament and power -- been in power. seeing suchwe are significant increase in regulations here in the eu. we see the general data

protection coming in. is about bout -- this data privacy and the issue on elections. about the manipulation of them. emily: all right, caroline hang on. goldman sachs is teaming up with apple to create a new credit card which will replace the rewards card partnership with barclays and this has huge implications for the packing industry. what are your thoughts? >> it is an interesting choice going with goldman rather than barley. they have been building their presence in particular and trying to build through the markets unit. that is the area of expertise and they are going to be launching this new products, and we don't know how the product will unfold. they are still formulating it. if you look what apple did with berkeley in the past, you get card where your

get perhaps one dollar -- one point -- three points per dollar spence -- dollars spent. this is about rewarding the customer. goldman sachs wants to get more than with the consumer and go down that route of syntax with this unit. and try to team up with apple going forward. it is interesting where apple wants to focus in on the apple pay. it surprised me that there are not many merchants accepting apple pay. maybe about a third. payment -- paypal is about two thirds of merchants out there. apple has a way to go to start claiming us and take badge of it and having inroads on paypal as well. emily: caroline hyde and sarah frier, thank you both. coming up, google backed tv is

adding its first female investing partner and we will hear from her next. this is bloomberg. ♪

emily: chrissy teigen is hopping on board and brings success of these to the blue apron menu including recipes from her cookbook. untils will be available july 9. after overseeing every twitter acquisition in history, she is starting a new history as the only general partner -- only female general partner. she left twitter for brief spat

and went back to twitter in december of last year. why return? promotion, now a you are general partner. why them again? >> i'm delighted to be a general partner. i think it is a tremendous platform and a really differentiated platform. the role of an investor is to support and back sounders -- founders through the whole lifecycle of their journey and that is work i like to do and have done for long time. particular, -- g-v, in it as technology and the dna of the firm which is an incredible expertise to lend the founders. culturally it is a place i'm excited to be a part of.

i was previously at the firm and decided to go back to twitter when the ceo currently became the permanent one and asked me to be a part of it. i've always enter the call for founders and building companies is what i love. you can tell the culture of a firm on the way it treats employees on the way out. david crane runs the firm and said we support you in building a startup and let us be the first phone call when you want to come back into the business. emily: what does it mean being a general partner versus and investing partner? how much check writing power or decision-making power do you have? jessica: the difference is a matter of experience. the investing partner is a check writing role. medium. a key role in there was an investment in outdoor voices. the firm is nearly 50% women and has more women investing which is just over 20%.

there is more work to do there. emily: you are so the only female general partner right now which is unlike many firms. that acquisition in twitter's history, what are opportunities that are untapped that other people may not know about? jessica: it is an incredible time to invest in technology companies. there are many trends and there are two that i'm excited about. one is machine learning and ai. we did acquisitions to bring that incredibly unique talent into the company because we knew how transformative it could be on the core product. if you look at the landscape, i started my career in venture 10 just ago and, android had launched and created a new space for product and companies. machine learning and ai is that moment for us right now.

it is a wide-open space to reimagine and invent industries. a uses machine learning and ai to help us understand how we identify cancer in treat it. the applications are endless. addition, i'm spending a ton of my time in crypto exploring and understanding, particularly why the most brilliant technical minds in my network, who could work anywhere, want to work in crypto. what holds so much promise and potential about it? emily: bill gates said he would short the corn if he could in route -- warren buffett called it right poison square. is ana: crypto amalgamation of many different innovation.'s a part of that is get rich quick. spaceare aspects of the

that are uninteresting or distasteful or even fraudulent. there is another part of the space that has a libertarian narrative to it. depending on your background, that may not appeal to you. there's another part of the space, technology, about the open source software movement in groups of people around the world can collaborate to build a network of it -- network. and decentralization is very exciting to me. emily: you have been investing with angels for several years now. how we separate that from your work? jessica: my investment will be focused on g-v but i will continue to build angel which is something i cofounded with five other women three years ago. particularly, focusing on supporting our mission to get more women on the tables of successful tart ups -- successful startups.

we are brought together hundreds of women to talk about investing to talk about things i crypto. we had an event with 250 people with eight of nine of the speakers were women to talk about the new frontiers. timeast majority of my will be focused on my responsibilities at g-v but we will further angels and be supportive of them. emily: peggy so much for joining us. we will keep an eye on you. for joining so much us. we will keep an eye on you. that does it for our addition of "bloomberg technology." that is all for now this is bloomberg. ♪ -- that is all for now. this is bloomberg. ♪ ♪

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