♪ >> i'm selina wang in san francisco, in for emily chang. this is "bloomberg technology." coming up in the next hour, just bezos stands up for press freedom and the washington post owner said leaders should welcome robust criticism. plus california governor jerry brown continues his push back on the trump administration's rollback plan for the environment. we hear from him from the global climate summit. and another tiny tech company is listed in new york. first to the top story.

jeff bezos is criticizing president trump and stating up for freedoms -- standing up for freedoms. he said the president should welcome media criticism. >> i will say this. it is a mistake for any elected official, in my opinion, and i do not think this is a very out there opinion, to attack media and journalists. [applause] \i believe it is an essential component of our democracy. there has never been -- i was going to say never an elected official that likes the headlines, there is probably no public figure that likes their headlines. it is ok -- public figure that

-- if you are a governor of the states or the president of the united states, you are going to get scrutinized. it is healthy. what the president should say is this is right, good, i'm glad i am being scrutinized. that would be so secure and confident. it is dangerous to demonize the media, dangerous to call the media lowlifes, dangerous to say they are the enemy of the people. we live in a society where it is not just the laws of the land that protect us. we have freedom of press in the constitution. but, it is also the social norms that pect us. it works because we believe those words on that piece of paper. every time you attack that, you erode a little bit around the edges. i do not want to be dramatic, we are so robust in this country

that media will be fine. marty baron will tell you this is a super important point. i've heard him say many times and i say it several times, marty says the administration marty says the administration may be at war with us, we are not at war with the administration. just do the work. just do the work. that is marty's thing. [applause] >> i didn't mention the president but since you mentioned the president, have you met the president? [laughter] >> he was a lawyer, wasn't he? >> so you met the president and you talked to him. does he call you in for lunch or dinner or much? >> i will keep my conversations with the president to myself, but i have had a couple of conversations with him. >> this does not make you think

you want the job yourself, right? >> are you asking if i would run for president? i will be your vp. [laughter] you run. selina: bezos made those comments on thursday which was the same day he said he would pledge to billion dollars for funding homeless shelters. spencer, who covers amazon, and our other reporter is standing by. this seems significant. bezos is essentially calling out trump and he owns the washington post. what you make of this situation? >> bezos was in d.c. and he has to back up his journalist and papers. he did not address the criticism of amazon growing too big and powerful, other than to say he did not see it as a significant threat.

that no matter what new regulations are imposed, customers will want low prices, fast delivery and fast selection. there has been this funny relationship between bezos and trump. the pattern seems to be trump attacks amazon when he feels attacked by the washington post. we saw bezos feels an obligation to defend his journalist at the washington post but does not feel the need to engage on the bigger picture of what government can do to amazon. selina: naomi, this comes at a time where he faces backlash from the left and right. i want to take a quick listen about what he said during his talks. >> it is important that politicians need to understand the value that big companies bring in and not demonize or vilify business in general. they should not vilify big

companies or business in general for sure. selina: naomi, you have trump criticizing on one sand -- on one hand, bernie sanders on the other, how is this crew to me different from other tech giant peers? naomi: a lot is the backlash that other tech companies like google and twitter is questions about whether they are being biased against conservative voices, questions about how russians were able to use social media giants to influence the presidential election. amazon has managed to avoid. that does not mean there are not people in washington asking questions about whether amazon is getting too big. it is not that there is not danger for amazon and jeff bezos, but a lot of the public criticism that tech companies have faced have been focused elsewhere in the industry.

selina: spencer, at that event, bezos sketched out his vision. up until now, he has been invisible so why did he choose now to outline this? spencer: he is in his 50's, the world's wealthiest man, and you can only be the world's wealthiest man for so long without being a big donor to some causes without being called a hoarder. it is his time. if you look at bill gates, he focused on microsoft and then became more philanthropic. it's now time for bezos to become more philanthropic. he asked for people to help him give some of his wealth away.

he said homelessness and education were two things that emerged that a very important to people and he also feels early intervention in child education, getting a kid on a good path to education early is the best step rather than trying to intervene later and get them caught up. with homelessness, it looks like they will try to support listing shelters that are making a difference and have a track record of success and throw more recess -- resources at them. selina: he has pledged to help homeless families and this comes at a weird time after he overturned a tax that would bring funding to homes in seattle. why is this happening? naomi: amazon fight -- night -- spencer: amazon fought against the tax that would generate about $50 million a year for programs for the homeless and create affordable housing. that was a tax on big employers

and amazon would have been the primary target of the tax. what this shows is bezos is fine supporting the homeless as long as it is on his terms and not on government's terms. he's more comfortable doing it philanthropic lee than having his wealth taken and the government deciding how it should be spent. selina: naomi, we are months ahead of the midterms and bezos had a $10 million donation into the super pac holtby with honor fund. what do we know about -- called the with honor fund. what do we know about this? naomi: this is about putting more veterans in congress dedicated to working across the aisle and get things done in washington. the candidates have to take a pledge to meet with a member of the opposing party regularly and sponsor legislation.

the whole goal is to increase stability in bipartisanship. selina: spencer, the affordable housing shortage is acute in places like seattle and san francisco, does bezos investment in this area put a dent in the situation? spencer: not really. and with him saying this money is going to the homeless shelters, that is the symptom of the affordable housing crisis, not the solution. when you speak with experts on homelessness, shelters are quite expensive and it is a much more cost-effective way to address the affordable housing crisis to create more affordable housing and intervene before people go homeless. one example is preventing evictions or things that lead to this catastrophic situation where people do not have a roof

over their head. to intervene earlier is more a cost-effective solution. bezos is putting a band-aid on the symptom. selina: naomi and spencer, thank you for joining. you can see more of that interview with jeff bezos on the david rubenstein show airing wednesday at 9 p.m. eastern and 6 p.m. pacific. spacex had its first passenger for a flight around the moon, but to it will be remains a mystery. the company says it will reveal the identity on monday. elon musk was asked on twitter whether he was a passenger. his response was a single emoji of the japanese flag. many companies are attempting to commercialized space travel. still ahead, we are back at the global climate action summit to

hear from california's governor, jerry brown, on his push back against the trump administration rollback plan. if you like bloomberg news, check us out on the radio. you can listen on bloomberg.com, the bloomberg app, and, in the u.s., on sirius xm. this is bloomberg. ♪

♪ >> the state of california has sought to lead climate change for a generation and pushes back on the trump administration's plans to roll back environmental protection. it is also planning to get to 100% renewable energy by 2045. one of the names at the

forefront of this is governor jerry brown who spoke with david westin in san francisco about how to fight climate change without the help of the white house. >> we can make a lot of progress, but we need not only the u.s. government at the federal level allin, we need all of the countries in the world. pending that, we have the ability of states, california, new york, and others, all of these states are willing to do their part. we have to cut carbon emissions. you see the storms off of north carolina? that is the kind of thing that will happen more and more often and more and more deadly. the reports you read, we can do a lot. we are supporting more installation of batteries, more renewable energy, so lots of things to do.

ultimately, we need the leaders of every country all-in on combating climate change before it gets so deadly we see mass migrations, diseases, and widespread mass from suffocating heat. >> you really need and want the support of the federal government. can they inhibit the progress you are making? there is a fight in california on fuel standards involving automobiles. does the state of california have the right to proceed if the federal government says it cannot? >> we do have the right under a law signed by richard nixon when he was president and ronald reagan was governor of california. he was my predecessor. we have the power.

president trump can try to eliminate that and he is doing that. we are fighting him in court and i will be in court longer than he will be president. he will not take away that power and it is crucial we maintain our efforts. it is not only about clean air, or efficiency of our cars, the next 10 years will show the dominance of the electric car. will that be for china or will america be in the game? president trump is sabotaging the american car industry. before he gets away with that, we have to wake up the country and say hey, america has to invest in batteries, hydrating -- hydrogen cars, and charging stations. if we do not, we will suffer an onslaught of foreign electric cars coming our way. it is bad for the environment,

economy, and bad for america's position in the world. trump must be stopped and now. that is what california's commitment is. >> you have signed into law a goal of having california as a state becoming free by 2045. there are charts showing the breakdown in oil for california and depending on natural gas, nuclear, and renewables. renewables are a modernist -- modern portion. through our special that covers these things, you're the second largest consumer of oil in the country as a state. how is california going to reach these lofty goals? >> three things. electric cars, currently being

pushed more by china than the united states. we are definitely looking for 5 million electric cars by 2030. can we get there? only of china, california, and other states and the auto industry makes the investment. number two, we need the electric batteries for storage. we need storage to couple with intermittent power with wind and solar. third, we need a regional grid that will allow us to share power at peak times with our other states. then we need other technologies, commitments by builders, healthier soil, capture carbon in our forests. so it is a very daunting task, but if we do not get there, what you see in north carolina will

be a tea party. this will get worse if we do not reduce our carbon. it is imperative. it will not be cheap. fighting back climate change is not to be there. if we do not do it, we will suffer. that is not what people want and everything i can will be directed to get this country and this state, and this world on the site of sanity. that is zero carbon emissions by 2045. >> what you just laid out will cost a fair amount. can you get there without a carbon tax? is that a way to get there? >> we have a price on carbon which works better. some states want a carbon tax, that we know if you want less of something, you need to tax it. if you want more of something, relieve all of the burdens on it. we want less carbon and pollutants and the pricing is an important way to get there, but

we also need regulations. is it going to be expensive? yes. is it more expensive than doing nothing? no. the path we are on now is trillions of dollars more than what it would be if it was zero carbon emissions. >> i am mindful you are approaching the end of your term and you have had quite a political career. have you accomplished everything you want? might you holding other public office? >> i don't rule anything out. i have a lot of ideas. i am more experienced and skilled after having done this for the last 45 years. i'm also realizing that i will be around to work in whatever way or field, or other endeavor that i think my services and experience can be of help. selina: that was jerry brown at

the global climate action summit. coming up, tesla to be on track to meet the model free production goals. we have the latest next. "bloomberg technology" is livestreaming on twitter and be sure to follow our global breaking news network @tictoc on twitter. this is bloomberg. ♪

♪ selina: it looks like tesla a gun track to beat the model three production goals. they produced close to 6700 vehicles over the last week according to a new report. the report claims they should meet their lower end goals of 50,000 vehicles by the end of the month. and, it may even surpass that

figure. it has only been two days since apple unveiled the new iphone x xs. one analyst points to consumers waiting for the release of the cheaper iphone x are in decline. and, kleiner perkins has lost a top investor. she is leaving the vc firm and taking her whole team with her. the new venture is set to launch in 2019 will make specs on late stage companies. this departure drops the top decision-makers from nine to -- kleiner perkins just has one female investor left. up next, the push to get green technology into china and we hear from a fund. plus, con academy does not just aim to prove test scores, the program once students to master

their subject. this is bloomberg. ♪

♪ >> this is "bloomberg technology." i'm selina wang in san francisco. news and video aggregation app has become the latest chinese company to list in the united states. the company priced at the low-end of its marketed range, selling 12 million american depositor shares at seven dollars a piece. they raised $84 million in its ipo. it's the 24th company to list just this year. we asked why they chose a u.s. listing. >> we compared all of the options. in china, hong kong, and the u.s. they are rapidly growing and

they still understand their business best. other -- i can't think of any sizable internet media company, and in the u.s. there are more than 10 out of china. >> did you see them list in hong kong? they raised about $4 billion. i am interested in your head -- in your business. give me a bit on what you do. how do you make money? >> we are actually an individual type of technology driven media company, unlike the older model, where the immediate produce their own content, we don't produce any content. we aggregate it from media and freelancers. we push customize fees to the users.

algorithm finds the user's interest on behavior, and pushes content. i haven't seen something like this in the u.s. in china, it has proven to be a powerful model. >> these platforms where the content is found, in the u.s., you see a lot of concern about the likes of twitter and facebook did they have different business models, but the concern could be the same. is this real content, relevant content? is that something you are thinking about in the chinese market? do chinese consumers have the same issue around veracity of content we are seeing in the u.s.? >> i agree, same situation in china, probably worse.

there comes a lot of fake news, lower quality of content. we have spent a lot of time ruling out all of these lower-cost content, that's important. we want to make sure the algorithm and teams pick out the best content and push relevant content to users based on interest, not just interest, l also quality. >> so you do have actual humans checking them and curating content? >> yes. we have two levels of a company section. that's the artificial intelligence powered machine interface that will screen the lower quality content, inappropriate content. then we have a team of more than 500 people sitting over there.

>> i am curious, it is only a two-year-old company, you have been the trend for big private companies to wait. why go now? a lot of your peers in china seem to be listing earlier. what's the decision to list now? >> listing is more about branding and less about money. it's easier to raise money in the private market and public market. we do get a lot of additional image credibility. that is very important. more credible, that helps business a lot. >> president trump once tariffs on about $200 billion more in chinese products.

we have learned the president instructed his aides to proceed, despite his treasury secretary's attempt to restart talks with beijing to resolve the trade war. the new round would be in addition to the additional $250 billion on chinese goods that face a 25% duty. the chinese have retaliated with tariffs on an equal amount of u.s. exports. the global climate action summit gathered leaders from all around the world to discuss how to move forward the fight against climate change. president trump was sidelined, as california and trump pressed forward on climate -- china

press forward on climate initiative. the room also be a tiny pavilion to showcase chinese efforts in the battle of climate change. what does pressing forward look like despite pulling out of the paris climate agreement? here to discuss is douglas cameron, senior managing director of the u.s.-china green fund. this fund was created under very different circumstances it's that under the obama administration. china has been doubling down. what does this mean for the investment landscape of the u.s. and china? >> let me say a little bit about what the u.s.-china green fund is doing. it is a cross-border fund established in october of 2016 to address environmental problems in china. our focus is how do we clean out and improve the environment in china? the focus has been on two parts. initially, we created a private equity firm in china that does investments in technologies and companies that do not necessarily look green on the surface. it is the underlining strategy

as we invest in companies that have deep access in environmental markets in china. building management companies, distribution companies, sales companies, so we have the ability to understand what the markets are in china, to understand how to get access to the markets in china. the second phase is to invest in technology companies in the u.s. that can address those markets in china. we are not big fans of the tariffs, but at this point, there are a lot of risks in venture capital and investing. we consider that one of the risks we need to deal with. >> why start a fund in the u.s.? what technologies are you looking for? >> just to clarify, the current fund is the china-based fund, rmb dominated fund. we are now beginning to roll out the u.s. side of the fund.

it will consist of two parts, we already make investments in western companies out of our r&d fund. we can help establish chinese entities of u.s. companies so they can tap into the u.s. market. we have made one investment and are continuing to look at other investments out of our rmb fund. we believe we want to start a dollar fund so that we can do direct investent into u.s. companies in the cleantech space. >> they really suffered during the dot-com bubble, and we have seen venture capital investments really declined significantly. how are you going to get limited partners to invest in this ust fund? >> first of all, we hope to show them we have a very unique situation going into china.

we are making incredibly good progress on the china side. i am very familiar with cleantech 1.0, and some of the mistakes that were made. a lot of it was based on expectations of high oil prices. not understanding or being aware of the low-cost of natural gas. those are some of the problems with cleantech 1.0. china is the biggest market for cleantech type products, cleantech energy and in the homes. second of all, we are very much market focused on the types of investments purred through our understanding and investments, we know what those markets are. third, we are focused on deployment. we are focused on getting the products into the market fast within one or two years. finally we are also -- >> the goal is to help u.s.

companies access the chinese market, which also does hint at one of the primary concerns of the administration, though it is appealing for businesses to go to the market. how does it protect anthony's from intellectual property concerns? >> that's one of the questions people are concerned about when they go into china. we will be a trusted advisor and help these companies navigate the china issues. we have a team of 40 people with a wide range of experience. many of them trained in the western companies, western businesses. we have a lot of experience on the ground. we also have an understanding about what types of technologies are breast protected in china -- our best protected in china, which are the most difficult to protect in china. if a company doesn't file intellectual property in china, it is really hard for them to argue that they don't have intellectual property protection. advising startup companies in california and elsewhere to make sure that a china ip strategy is

a big part of what they do is important. >> the past two decades of economic growth in china have come to sense of the environment. now china has been very aggressive in pulling out these environmental policies, including shutting down some of the industries. is it enough to reverse the damage? >> you have to start somewhere. if you look at l.a. in the 60's, or london in the last century, you have probably seen pictures of terrible pollution. you have to start sometime. i have already seen significant improvement in the air quality in beijing. we expect not all of it will be corrected, but we believe it will be better. selina: you are going to have to give us an update when you make investments in the u.s.

thank you for joining us. coming up, sow, once anyone to learn anything anywhere. he tells us how online instructional materials could bridge opportunity gaps, next. one of youtube's largest channels just got bought out. how youtubers are looking outside of the platform to turn a profit, next. this is bloomberg. ♪

♪ selina: for today's teachers, meeting the individual needs

ofor 30 students per classroom is impossible. for sow,, 50 million students is no problem. it is a nonprofit organization with a mission of providing free, world-class education globally. with instructional videos, quizzes, subjects like math and chemistry, to online poker -- it has helped student in over 90 countries. in addition to opening a brick and mortar store,khan is announcing new features. you have talked a lot about mastery learning, which allows students to learn at the right pace. what exactly do you define it as, and how do you apply it to con academy? >> it is the most common sense way to learn. if you are learning a musical instrument and working on a more basic piece, and you have it 80% well, instead of going to the advanced one, take more time on the basic one. same thing in a math class.

for the last 200 years or so, we have had an education system were we have not allowed students to master things and move at their own pace, but move them all lockstep. we are in a seventh grade class learning exponents, i get 80% on the exam, even though there is a 20% gap, we moved to an advanced project -- subject. mastery of learning, instead of holding fixed how long you do something, you make ferryboat when you can work on -- make variable when you can learn on something. selina: a few years ago, you want brick-and-mortar. what have you learned through that? have you changed the model at all? >> we are constantly changing the model, but the core underlying idea is around mastery learning. if we let student use tools like khan academy to learn at their own time and pace, they will learn faster and learn more.

it takes more of a leap of faith. every teacher we talked to say there are some students that are operating at a fourth grade level, some at a ninth grade level. they wish they can cater individual needs, but if they let the other one work on fourth grade work, will they ever get to seventh grade? if you take the leap of faith and let them work on what is appropriate, it happens much faster. selina: are there major challenges with having students evolve different ages in the same classroom? >> there are some challenges, if you think who is mature for what book or whatever else. there are also benefits, students can mentor and take care of each other. my daughter, when she scraped her knee couple of months ago, the first responder was a 12-year-old, there is something powerful and natural about that. selina: you could probably

easily monetize that. why say a nonprofit and keep it free? >> when khan academy started, it was delusional. it was this idea of maybe the academy can be an institution for the next generation of learners, or many generations of letters. i thought a home run in the for-profit would be fun, but home run is a not for profit. now, it is not so delusional. we do envision it. well beyond my life and generations to come. billings of people will hopefully be -- billions of people will hopefully be able to learn on khan and go through college, get jobs and credentials recognized anywhere in the world. the only way to stay focused on a vision like that is to stay nonprofit. selina: you have bill gates, eric schmidt as advisors. how have they impacted the

organization? >> their biggest impact has been as advisors, to help us think big. how do we really scale this to a global scale and reach what we want? they have also been valuable amplifiers. bill gates, when he really got involved in khan academy, was telling everyone he uses it. that was a big signal to a lot of folks. when people see something nonprofit or free, they think it may be good for those who can't afford something. when bill gates says i use it, that was a big signal their free doesn't mean not world-class. that's why our statement is free world-class education. it is arguably the most effective way to learn. nejra: what do you think of these billionaires investing education -- selina: what do you think of these billionaires investing in education? >> i think it is very positive. from the outset, it can feel like there is something deeper going on. everyone who we have faced with,

it is a positive intent. they see what is happening at a macro level. the pyramid of our society where you need labor, and you have a middle, information processing class, and then you have the top, that is changing. robotics and ai are collapsing those layers. we need to invest in education so more people can be at the top. selina: thank you so much for joining us. this week on bloomberg television, we bring you our best interviews from the week, including our exclusive conversation with kevin johnson on the coffee companies push for a greener future. tune in saturday for the best of bloomberg technology. this is bloomberg. ♪

♪ selina: in february, a german study found a 96 point 5% of all attempted youtubers won't make enough money to crack the u.s. poverty line. individual creators may have found a way to expand. youtube's ninth most-watched channel, a series of nursery rhymes praised by parents, has been bought by an agency called moonbug. it may use the channel to pursue other youtube networks to build scale and pool resources. here to discuss is bloomberg's lucas shaw. what is the significance of this deal? do you think we will see more youtube channels emerge with other platforms, so should the net -- social networks, even? >> it may be a light at the end of the tunnel. we went through a wave of consolidations and deals were a lot of traditional media companies who were nervous that they were losing the relevance of young viewers, scooped up multichannel networks, which were these networks or companies that consolidated thousands of

different youtube channels. they paid them, in some cases, 100s of millions of dollars, the fact that this popular channel can still sell may bode well for other channels that are wondering what their exit will be. the point about the data is not easy for a lot of these creators. selina: youtube sales have skyrocketed, but it is getting rougher for these creators. was there a change in advertising or policy algorithm that caused this change? >> what happens inevitably with these big online tech platforms, if you think about it with google, youtube, facebook, they are designed to make money for those companies. facebook makes a ton of money from the fact that it has these news publishers on the site, but most publishers do not get money from facebook. it is mostly marketing or to make people aware you exist. it is kind of the same on youtube. you see a lot of companies have had to shift their strategy.

youtube is still important, some cases, the most important platform for companies, but it is a way for engaging with your audience, rather than making money from your audience. you monetize your audience elsewhere, sell merchandise, books, maybe subscriptions. selina: what does this say about the huge market for kids on youtube? i was looking at one of their popular nursery rhyme compilations, and it had 2.1 billion views. what is dragging this crazy growth? >> kids are raised with a smartphone in their hands now. you have seen in traditional television, the viewership fo nickelodeon, disney channel,r cartoon network, has fallen off of a cliff because markets are not growing up watching tv, they are watching videos on the internet. youtube is the biggest player. for all the attention necklace gets, youtube is irresistible

for young kids. the videos are short and you can watch them over and over again. it is free, easy to watch. that's why it has a dedicated app for kids, and why there have been scandals where you have had ads you wouldn't want a kid to see showing two kids. selina: do you know how big this deal was? >> pretty small. we are not talking a couple hundred million dollars, we are talking single digits. for one channel maintained by a few people, that is still pretty good. selina: thank you for joining and bringing us that report. that does it for this edition of "bloomberg technology," i'm selina wang, this is bloomberg. ♪

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