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tv   Bloomberg Technology  Bloomberg  September 20, 2018 11:00pm-12:00am EDT

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emily: i'm emily chang in san francisco. this is "bloomberg technology." amazon everywhere. in your microwave, your car, your clock and everywhere. how amazon plans to take over your home. plus, gap's journey from a single store to a global business. the outfitter is introducing its sixth brand. we will speak with the ceo about his strategy. and online ticketing company eventbrite. stocks surged, after it raised
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$230 million. we will speak to the cofounder and ceo. amazon held another surprise product launch. the e-commerce giant has revealed a slew of new devices designed to integrate alexa further into a.i., including clocks, microwaves, and alexa for your car. dave witte joins us from amazon headquarters. thanks for joining us. a lot of products here. which one is hard to believe? do you believe is the most important and why? >> i think a lot of the products were important but, i find if i had to pick a couple, i would say the new echo dot was a great product. it has been the best-selling speaker ever. now we have improved it across a lot of different dimensions.
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i think customers will love the better sound. then also, the new echo show, a bigger screen and brighter display. it continues on our path to have alexa show you things. new productauto, a that brings alexa into your car. dave: we have to talk about the microwave. emily: perhaps the most unexpected product you unveiled today. how does it work and why do you think this is a good opportunity for amazon? the amazon basics microwave was about building a design showing that you can connect anything to the internet and make it smarter. i mentioned earlier today that the interface on your microwave has been stuck in the late 70's. we think with alexa we can make it super easy. in addition, we added dash replenishment server so, if you run low on popcorn, the microwave will automatically reorder some. it is super fun. emily: there are so many
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products. are you concerned that customers will get confused or overwhelmed? >> i don't think so. one of the things we have strived for is giving customers a lot of choice. when we offer more selection, customers are good at identifying what they want to buy, what they want to use. then we add on top of that a reviewer system that let's customers add reviews to products. and that allows people to help choose. the breadth of products is a benefit for customers. emily: you unveiled a new speaker accessory to make sound. what do you think the potential is in the high-end speaker market where you do have entrenched competitors? david: yeah, well, first of all, i consider sonos a great partner. i'm a big customer. i love them. sonos customers are passionate about great sound around their
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house and the convenience they offer. and now sonos has beams that integrate alexa everywhere. our products are more breadth in terms of mainstream products. we know that sound will improve over time and we need to improve on behalf of customers and certainly sonos does as well. emily: you also played up your partnership with spotify. you have amazon music. do you have concerns about cannibalizing your own products? david: we really do not think about it that way. what we think about is we want to give choice to customers. and the nice thing about alexa is that the service is open to developers of all types. spotify has been a great partner of ours. and there's millions of customers on echo and alexa. we think that is great.
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we are also super proud of amazon music. there's not going to be one winner in music. the headline is that there will be one music service to win it all is not likely. there will be multiple winners. i'm sure spotify and amazon music will be on that list. emily: amazon had first advantage but google home is rapidly encroaching on your territory. do you think there is space where there are multiple competitors or will there be one competitor, amazon or google or someone else, that takes a greater share? david: we really don't think about it in that aspect. we do not focus a lot at amazon on competition, but instead, take a step back and say, what do customers want? if we focus on making great products, great services, a great developer platform, then customers will come. and the fact that we have x market or y market segment share, that is an output of
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where we are working hard on input. we're super excited about what customers have been able to do. there is no question that we think alexa and echo is leading in the home today. but we have to continue to work hard as we move forward. emily: the event today was apple like. it seems it is becoming an annual affair. what will we expect to see from amazon's device strategy and how it fits into the broader company going forward? david: well, our strategy has been the same for 12 years now. where we were kind of founded internally, we started with out first product which was kindle. our job is to build devices that are not just gadgets but build devices that customers want to use integration with services out in the cloud. echo and alexa. kindle is an example. we are going to continue to look
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for new opportunities, different devices and services that will delight customers. not going to announce anything besides the 70 products we announced today, but we are continuing to work hard and we are excited about what we can deliver to customers. emily: thanks for counting them for us. 70 products. appreciate your joining us. coming up, gap introduces its sixth brand. how the retail company is using the men's leisure line to push even further into e-commerce. that is next. this is bloomberg. ♪
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emily: over the last 46 years, gap has grown from a single store to a global business. and with 3300 brick-and-mortar stores, gap is betting bigger and the future is e-commerce. this week they introduced their sixth brand as an online exclusive and the gap ceo compares the new men's app leisure line to a tech startup. >> very much a start-up. almost like angel funding. it sits on a platform of all the capabilities that we have as a global apparel company. once you get online, it will sit on our platform, be exposed to hundreds of millions of visitations we have every year.
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it has the essence of a big corporation but launched in a small way. emily: i sat down with peck to talk about hill city and get an update about old navy and athleta as well is his strategy for a full gap comeback. >> we have been forthright in saying the importance of old navy in our portfolio today. if you look at size and profitability has already surpassed gap brand. we know this because we have done the research, not just because i want to believe it. it's still very relevant, but it is 50 years old and brands morph. we're doing work to position gap brand. but i love every brand in our portfolio. we have been very forthright with the investment community in saying that what we are going to be a responsible manager of a portfolio. our job is to do many things, not the least of which is to
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create value. emily: what about banana republic? in the middle of a turnaround, what are you doing differently and what is working? >> so, what we're doing differently is what we have gone -- done when banana was that its best. we had a moment where we went into a bit of a tortured fashion phase for the women's products. and banana, at its core, and this is from the holiday collection, flannel, the hand is beautiful, banana at its core is about neutrals, about amazing fabrics, incredible hand feel and versatile pieces at a slightly higher price point that are the foundation of a wardrobe. it's not a work brand. it is a life brand. as we put product back in our stores, great fabrics, neutrals on trend but not tortured fashion, we've seen the customer response overnight. emily: when do you see banana being back, two years, three years? >> that is something we are aiming towards an always
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something we are going toward but i expect to see a long run of banana continue to grow and continue to grow market share. i'm really excited. what banana is at its best it is this extraordinary high quality, well made fairly priced alternative to contemporary brands. and that is when banana is really chugging along, that is what it is doing best. we have a flight suit in the assortment right now. it is very cute. i actually showed it to my nephew's fiancée a team pilot in the navy and she looked amazing in it. emily: athleta, another bright spot. how big does it get, big enough to break out of its metrics like old navy? >> eventually we will break it all out. that's something we talk about because we want people to understand the powerhouse we happen that brand. -- we have in that brand.
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i see nothing that will slow the brand down, honestly. it continues to be 50/50 stores online. an omni brand. our customer shop seamlessly across the online business and in our stores. i'm not going to call an end in sight. we really feel that this is a brand that has very significant growth potential in front of us. emily: now, part of what we have been struggling with, inventory issues. is that working out? when will those be completely behind you? >> inventory has been completely in line across the entire company with the exception that we took some product out of gap brand. less because we had inventory issues and more that we felt that the product was not on brand. we have been forthright about it. it is one of the reasons today the stores feel cleaner and tighter, because there is not as much assortment but what we are missing is a little bit of sort of the color and the pop. we said quarter over quarter improvement. i'm looking forward to when holiday comes. we have a new president.
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emily: what does next gen gap, the parent company, appeal to the new customer? the whole company. >> we're going to continue to grow our additional business at -- our digital business at an accelerated pace. we have had excellent performance. we're going to continue to grow that business across the entire portfolio. we're adding a new brand with this announcement, hill city. we are looking at other places where we feel that there are opportunities for us to produce -- to participate. i'm not previewing a slew of brands coming but i do believe i have an opportunity to add new brands organically, doing inside or through acquisition. we're considering looking at acquisitions. emily: what does gap look like in five years? >> gap looks like in five years, we have additional brands in our portfolio. we have an amazing digital business that may be at that
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point it's 50% of the company or 60% of the company. we probably have the same number of stores. but different. and maybe stores that are not as big and maybe stores have more technology in them. we have a full suite of digital capabilities that are customer uses for their shopping, buying and fulfillment experience. and we have an exceptional experience that is truly omni channel that allows the customer to engage in a high touch, low friction way. emily: gap ceo art peck. coming up, more of our exclusive conversation with art peck and his thoughts on the escalating trade talks with u.s. and china. will the cost of your sweaters go up? this is bloomberg. ♪
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ma says his promise to create one million jobs in america is impossible because of the china trade war. in an interview in chinese state no media, he said it's longer feasible because the unstable trade situation. in januaryp met 2017 to discuss how adding small and medium-sized businesses would boost employment. there was skepticism about whether alibaba could deliver on the number of u.s. jobs, but here is how ma explained to me how his pledge would've worked. >> in five years, we create one million jobs. we want to enable small businesses in america. and we think in china we've created 33 million jobs, so each
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business is online, we can creat e three jobs. so, we hope that we can help small business in america, we can list an alibaba site and help them to sell to china. emily: gap is one of the many u.s. businesses feeling the impact of this trade war. gap who includes old navy and athleta sources 22% of its products from china. ceo art peck says raising prices may be the only option. >> we're watching it very, very carefully. this is a trade war that is largely confined to china right now. china has not been our largest country of origin, all it is for -- although it is for many others for some time. we have moved and diversified are sourcing base. vietnam is our largest country of origin but some things will be impacted if this continues to go that direction. we are looking at counter
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sourcing. other countries and we are looking and saying what is the implication. and what is the consumer going to be willing to pay at the end of the day. and that is the big issue that everyone should have as we are moving down this path is what this will this will be is a tax on the consumer. and it is just unfortunate that this is going to impact consumers. emily: apple says it will raise prices. on the watch, airpods. if they got hit. would you be raising prices? >> it is something we are looking at. our job is to continue to deliver the performance of the company and i think in some cases we will have no choice but to pass the impact of these tariffs to our consumers. emily: 22 percent of your products are sourced in china. could you shift that? are you considering shifting
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that? >> the answer is of course we are considering shifting it. the whole apparel industry has been in a race to the bottom to find the cheapest labor rates. a lot of that ended up in bangladesh. we modestly source in bangladesh because we require our factories to be certified. we have been moving into other countries. we see continuing downtrend china. but there are some items that china has an advantage that like sweaters and some other things. we will work with our vendors to figure out what we are doing from a footprint standpoint. emily: that was gap ceo art peck. the gender pay gap is something we have been talking about with how women are underpaid across industries, but what about the potential wealth gap created by stock options? turns out, for women in silicon valley, the pay gap is bad, but the equity gap is worse. employee stock grants favor men, and that has a big application in silicon valley where big
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paydays make millionaires and billionaires. these are the folks that become angel investors for the next generation. rebecca greenfield joins us on the details and what it means. women hold only 47 cents for every dollar that men do. talk about the trends we are seeing in these larger pay packages awarded to women. rebecca: a huge amount of data, 180,000 employees, almost 6000 employers. i think the stats are solid showing that women are only getting 47%, 47 cents of equity for every dollar that a man is getting and that is just a huge disparity between the two. emily: is the equity gap a bigger problem than the the pay gap because it can widen
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significantly at those high numbers? rebecca: equity, it is important to note it does not always result in a big payday, but it does sometimes and it makes the next billionaires in the next influencers. it is something that is not being considered. the gender pay gap is important and those weekly paychecks add up, but this is something, having an outside a fact that we -- having an outside of fact -- an outsized effect that we are not even considering to understand. this is the first time we are having data to show what it is. emily: now, you give some specific examples of women in your piece. rebecca: we talked to one woman who said she was offered a job, discussed it with a man who was offered the same job at the same time. and he was given more equity. she says she asked for more equity and she was told it, no, that was standard. she took the job and then later
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asked more people she worked with, men, about their equity packages, and they had better ones. so, she pushed back and got what she thought she deserved. but i think that is where we are seeing the problem is that when negotiating pay it is already a very complicated and opaque process. equity adds another level. if you're not willing to push back, you will not get what you want and sometimes for women when they do push back, they are not getting what they want. emily: another thing to talk about is mis-leveling. rebecca: when startups offer jobs, they are offering a compensation package. the standard salary and standard equity for that job. but what i was told happens a lot of time is that companies will offer you a job for a level that is lower than the job you were going to do. this might have to do with the fact that startups are small and they do not tend to have h.r.,
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but if you don't push back and say i will be doing a higher level of job, you're going to end up getting shortchanged on your equity and compensation, too. emily: we've heard some ceo's, the ceo of salesforce, talk about the extensive work they are doing to make sure that pay is not a problem, but what are companies really doing about this? rebecca: like you said, a lot of companies to pay on it. -- do pay audits. i'm not sure if that includes equity audits. now the conversation needs to shift to include that, too, if it does not already. emily: rebecca greenfield, thank you for joining us. check it out in "business week." ticketing platform eventbrite had a big debut on the stock exchange. the ceo tells us how they scored so much on day one. plus, the sustainable benefits of vertical farming are undeniable, but what does new
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tech mean for farm laborers? we will take a look at how sustainable tech is changing tomorrow's jobs. this is bloomberg. ♪ xfinity mobile is a new wireless network
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emily: this is "bloomberg technology." i am emily chang. eventbrite went public on the new york stock exchange raising stock as much as 68%, and raising $230 million in its debut. we spoke to the ceo and cofounder julia hearts about the big ticket punch in wall street. julia: we have been able to talent for investors that the investors thator the vast market for experiences is vague and underserved. receive 45% of our new event creators coming to the platform after not using a technology platform. i think that come alone, tells us that we have been able to
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uniquely aggregate many different types of event creators who just before eventbrite had not been served with great technology. emily: it seems like everybody is pushing into this experiences business, whether it be spotify, airbnb. how does the the committee eventbrite differentiate itself? julia: we have been able to be unique in that market because of our self-service approach. 95% of our event creators are able to use the service & themselves up. that natural behavior allows us to continue to grow our strengths and business model. we focus on really being able to enable our creators and get to the core of the problems they are trying to solve in their businesses. i think we have been able to do that consistently time in an timeout and that has grown us in the market. we have a lot of competitors, so we are not devoid of competition, but we also see great opportunity to drive
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partnership. we have a distribution partnership with spotify helping us enable artists to sell tickets to their own shows. emily: he had done a great job building the platform, but investors always want to know what is next. how do you much sure you are not -- make sure you are not a one-stop product shop? julia: our transactional business is about 95% of our revenue today. we are really proud of the we have been able to achieve in the market. that scale and efficiency of the transaction space is not easily carved out for us. when we look at our adjustable market, we see upwards of 4 billion paid tickets. we went to aggregate unprecedented numbers of tickets in our platform, because it means event creators are succeeding and we succeed when they succeed. beyond that, we look at other areas where we can develop the eventbrite platform to meet these creators'needs as they develop their businesses. so pushing further into problem areas and helping to grade
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-- to create solutions is what we're focused in addition to driving volume. revenue growth seelerated but also wese losses narrowing, and julia: we reported our net loss in 2017 that we also reported a 2017 adjusted ibitda which show ebitda which shows that we had grown our skill and efficiency. we will continue to make inroads toward profitability and we have been a great stores of capital historically. we think about investing in the future to drive a positive adjusted ebitda but also adjust the growth. emily: you talk about expanding internationally and developing a revenue stream for specific countries. can you give us some examples of where geographically would tend
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to do that? julia: our core countries today in the top 14 global markets still have a lot of room for us to grow. when we look at the adjustable market opportunity, we are only 74% penetrated. -- only 7% penetrated. it gets some like me excited to pursue these opportunities whether it be in a united kingdom, germany, latin america or australia. we are also looking to areas like asia being a potential expansion opportunity. but again, in our core global markets, we still have a lot of headway to grow. emily: you talk about how you plan to add category specific capabilities and develop new revenue streams. what kind of revenue streams? julia: when we think about revenue streams, it is a length of helping event creators create new revenue streams within their own events. every event has a fixed cost component. so the incremental revenue we can help event creators produce, whether it be things like brand marketing, promotion,
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sponsorship, it is high incremental margins for them. every little bit helps. emily: there are fresh reports about a secret deal with ticketmaster and scalpers, ticketmaster has pushed back on this. what do you think about that kind of behavior? how do you enjoy your own ensure your own transparent relationship with customers? julia: when we think about driving trust, it is not just with event creators, but with consumers. we see about 50 million active consumers use the platform every month and being able to drive trust is the core engine of growth of the eventbrite transactional platform. we certainly think that being able to extend and that trust to more and more consumers, is going to be a key ingredient of eventbrite continuing to extend its brand equity. what we have been able to show
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investors is that our market is really different from the head of the market that you see with ticketmaster. it is a vast middle market opportunity for of creators who create their own content, so it is a slightly different business proposition. also, consumer trust is just as important. emily: do you think ai and machine learning technology will make it easier to do these sort of shady business practices, or of shady business practices, or make it harder? julia: there has to be a better way when it comes to ticketing. i think technology solutions to create fraud abatement and the other sort of bad actor, will be actually and enablement for a better marketplace. emily: our conversation with eventbrite chief executive officer julia hartz. hong kong's second-biggest ipo of the year delivered a big start, raising $4.2 billion in a
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share sale, of find that their increased focus on profitability is resonating with investors. >> we are going super fast and we are close to even. on the second segment, we have new initiatives because we believe we will build a large ecosystem for services. i think we will become a more mature and profitable business. emily: joining me to unpack the food giant is our bloomberg reporter alex barinka. how do they plan to use this cash? >> in china, there is a competition between meituan and alibaba, the only two companies standing to gain this huge $1.3 billion market. my guess is that it will go back to china to grow that business. alibaba has been pushing subsidies into the market to
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make achieve for customers to cheap for it customers to purchase food on their platform and grab market share. meituana has had to really compete. it is a really profitable business and investors will be watching. that is where i think the majority of the spending will actually go for this listing. >> that's right, investors are concerned about spending which is very typical for the food business. the ipo was better than xiaomi, so what is the difference in ? >> this one seems to have a little bit of traction with the food delivery business and add on services. it is consumer focused and perhaps investors wrapped their head around about a little more than xiaomi, which is a sprawling empire of tech gadget making. if you have seen the stock movement for xiaomi, it tracks along with general sentiment toward asia tech stocks, which has not been greatly.
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folks feel like they got burned, there may be some overheated valuations and people pulled back from the market. so getting out now, xiaomi may have gotten a hit from the broad sentiment. emily: it looks like chinese companies go public earlier than american companies, what is the strategy here? >> what i hear from these executives listing in asia, is that they think it is a big marketing opportunity. why not go out? investors seem to have the appetite for it as they are facing these big fights domestically, they are trying to tap additional money. so why not go earlier? in the u.s., we have seen american strength to build a big business before taking the plunge and going public. a few small companies like surveymonkey and eventbrite are coming up and walking the trend, but the big consumer facing tech companies sit on ipo plans.
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for almost a decade so we will be watching them for sure. emily: we are in the midst of a trade war, how is that impacting sentiment? it depends on the company. i talked to the ceos of the tesla of china, he said that it is better for them. because they sell domestically if their tariff is on tesla, that is a boom for their business. so it depends. what about components will get -- which are purchased from investors here? there is a cost of their. from their actual topline and bottom-line perspective, it seems like it depends where they are selling their products. so it is not that big of a impact for meituan. emily: thank you as always, alex barinka. still ahead, things are looking up for sustainable farming. how vertical farming could save the future, next. this is bloomberg. ♪
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emily: by 2050, the global population is expected to reach 9.8 billion. two thirds of them will live in cities. with growing population and limited resources, sustainable food production is needed more than ever. that is where vertical farming comes in. indoor farms can transform and use less space, water and pesticide. but while the technology is
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friendly, what does it mean for farm laborers? we investigated. might look like we're inside a spaceship, but this is actually a farm -- crops are grown inside machines. it offers a look at a new kind of farming, a promising to us to -- a twist to an ancient career but only if the robust and not -- the robots don't replace it altogether. >> my name is kitty morris and i am a vertical farmer. >> katie works for a three-year-old startup called bowery. its farm is here in this industrial park in a new jersey. it is a last place you would expect to find any sign of life .
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step aside and you will see a cross between a factory and a lab. trays of produce or vertical steps to save space and each of them is given the right amount of light, water and nutrients at the optimal temperature and humidity. it is an incredible level of precision which is why she can grow them faster and with less water and pesticides. >> it tastes like candy apple. whoa! this is sour! >> i know. reporter: the majority of the facility is automated. the data is collected by sensors and computer controls growing conditions for the crops. for the things the machines cannot do yet, katie and her fellow human farmers take care of and even that is dictated by the software that runs this will
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-- this whole operation. >> it lets me know what i need to do, what time i should do it, and that is how i get my day done. >> after a full day at the farm, katie likes to bring home samples to her husband, jace and her cat, burton. on the menu are two items, basil for pesto pasta and mixed greens for a salad. >> i am terrified. everyone is judging. cheers, guys. >> cheers. >> she studied environmental and science in college but after graduating, she struggled to find a job. >> he dealt with me a lot, coming home crying and me trying to figure out if i was making the right decisions.
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and then somehow online bowery popped up. >> she told him that it was an indoor vertical farm and i said, his sons like total bs. total bs.unds like so i took my work truck and drove up to it. didn't look like those affirmed -- like there was a farm in there at all. >> i figured out i would going check it out myself. i pulled up, and it was exactly as he described. but i give it a shot. >> so in 2017, katie joined bowery. she became employee #9. bowery is backed by some of silicon valley's top investors and with almost $30 million in funding, the startup is
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expanding fast and in may, katie got promoted to beat a team of -- to lead a team of her own farmers. the world's population is set to reach and 9.8 billion people by 2050. two thirds will live in cities. we are going to need all kinds of new technology to sustainably feed everyone. the key to making that food affordable is to continue to make more with fewer farmers. but no matter how it high-tech this debts, katie thinks there -- this gets, katie thinks there will still be a place -- >> i think you can still work closely with technology but i think it is nice to have a human there. it is also pretty lonely for the robots not to have anybody to talk to. [giggles] emily: that was bloomberg's bowery farms. coming up, a man who has worn many hats, deputy manager and even fixer. here with a new book with plenty
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of juicy details. you don't want to miss it. this is bloomberg. ♪
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emily: he is a self-proclaimed fixer. his firm describes itself as the first vc dedicated to helping startups navigate problems. he was first a political strategist for uber and also served as michael bloomberg's campaign manager, the founder of bloomberg and bloomberg lp and he also served as the governor of illinois. bradley, thank you so much for joining us. what does it mean to be a fixer? >> it means to be able to get things done, and in my case, it is, how do you work with startups who take on big adversaries like the hotel industry, the taxi industry, and give them the ability to
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compete. emily: is this about skirting the law, exploiting it, playing nice? bradley: it is a little bit of everything. my book goes into it in a detail, but in almost every case, any startup we invest in has come up with a way to do something different, and if lawmakers could have come up with how to do it, they wouldn't be bureaucrats. ultimately, we have to convince the politicians and regulators that the law is ok, or we have to change a lot to make it ok. emily: what kind of advice did you give uber in the early days that they were running up against new york taxi regulators and other walls?
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bradley: than real thing was to mobilize our customers. taxi is an incredibly powerful lobby in new york, the new york mayor's biggest donor, so we could not compete with them dollar for dollar, so we said ok, we have millions of customers around the country who really like ridesharing and do not want to do it, so let us mobilize those people and have them tweeting at other council and emailing them, calling them and creating so much overwhelming force so that the politicians cannot get away with just doing the bidding of their donors. emily: that said, things have not quite worked out so well for uber when it comes to regulators. there are multiple investigations open, even criminal investigations. what went wrong? bradley: the stuff that i read about in the times, i don't have any particular insight into that, but i will say, if you asked me that question, was uber too rough or aggressive? the answer is no.
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they lost the fight to the new york city council but it was a fight the required hardball. the new york city council was being really good at being conciliatory and avoiding confrontation. you cannot be the person that everyone likes and throwing punches at the city council all the time, and the taxi lobby saw that opportunity and exploited it. emily: a lot of tech companies are at odds with the government like google and facebook go wrong? bradley: what is interesting about those companies is that they came up in a friction-less
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environment and they were not disrupting industries such as a hotel industry. and they did not have a lot of fight on the front and. so they evolve this false sense of security, that everybody would love them and everything would be fine, but the real it that politics always comes for you. eventually, you get a good enough and strong enough and you piss enough people off, it happens. i think where google, facebook and twitter made a mistake was that they did not anticipate enough to my they did not prepare for it enough and they are scrambling now. emily: you implemented the first mobile voting pilot in a u.s. election. we have less than 50 days to go, this idea that more tech is better, could it also mean more vulnerabilities and opportunities to hack? are you concerned about the? security of our upcoming elections that we are working on newwe are working this
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idea. we went to allow people to vote for elections on their phones and also make is a lot safer than it is now. do i think the 2018 elections are secure? not really. emily: even though president trump does not use email, he has certainly used text to his advantage, of course, with twitter. how would you advise a candidate trying to take on trump? bradley: i think ultimately you have to be able to show that you are able to fight with this guy, toe to toe. i think you will see a lot of people from the left emerging in 2020 to challenge him, because they really want to battle. people are feeling really polarized and it it will be ugly. emily: bradley tusk, ceo of tusk ventures, with the book to read thank you so much for being here -- bradley tusk, founder of tusk ventures. that does it for this edition of "bloomberg technology." this is bloomberg. ♪
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