it will be a busy week for you. thank you for that insight. "bloomberg technology" is coming up next. that is all from us on the "what'd you missd you miss?" team. this is bloomberg. ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." in the next hour, details emerging and the arrest of thehauwei ceo as she appears in the canadian court. she was taken into custody in transit from hong kong to mexico. plus, we talked to a lyft investor as the plan to beat uber to the public market is risky.

facial recognition might be cute for things like an emoji -- a nimoji but it has a dark side. ofthe top story, the cfo hauwei has appeared in canadian court. she has been charged with consumed that's conspiracy to defraud banks. she allegedly violated sanctions on a rant by selling gear to the country but the big country remains, did president trump know about the arrest as he was striking a deal over dinner with chinese president xi jinping. they asked larry kudlow that very question. >> i did not know. allid they bring wally at -- did they bring up hauwei at all? >> not at the dinner. i do not hear a discussion. >> have they brought it up

subsequent seasons the last -- since the arrest? >> the president did not know either. was arrested while traveling from hong kong to mexico. to discuss is bloomberg tech's mark gurman. give us more context on who she is and how important she is to h auwei. >> she is the cfo which makes her one of the most important people of the company. not only in china but the company. her father was the chairman and founder of hauwei. is likened to being the apple of china. you can imagine what the situation would be if a top apple executive was arrested while in transit in china. that is sort of like what is happening with the hauwei cfo being arrested and china with the request -- canada with the request of the united states.

just to get context about this family, this is a famous family that is likened to the bill here family that we have in the united states in terms of the prowess and how well they are regarded locally and what they have done for the technology sector. emily: so the question is, will this impact trade talks. the chinese have made their outrage clear. here's what larry kudlow had to say on bloomberg earlier about that. i think the trade negotiations, which have momentum from the two presidents on that, those are going to continue. i don't believe they will be interrupted. by the hauwei enforcement action. sense mark, what is the of the relationship between this arrest and the over arching issues and traditions -- trade tensions that play? mark: the arrest could not have

come at a worst time with people having trade stake. if the u.s. requested the arrest of the executive as part of trying to create leverage for itself for the trade deal, that is one piece of the story. the other possibility where they are not related, that by be worse in some sense because that creates another distraction and another bullet point for the chinese to use against the u.s.. that would be a poor negotiation tactic to take a top chinese executive into custody and basically causing this international situation. emily: at the same time, hauwei is facing a ban on its equipment in the u.k.. more developments on that in a couple of days. what is happening there? mark: just to give context, has two core businesses impacted across the last year due to these numerous situations. one is there divisive -- devices

business. that is their phone business and that is what has been taking over apple in some markets globally. their other business, perhaps more important, is the telecommunications business. are the equipments in cell towers and infrastructures that allow phones to connect to networks. this ban would have a hindrance on the long-term future because 5g is the future. that is what they are so i had of the competition on because this would harm their business locally. the question is will this harm consumers who will not be getting the 5g technology because of the united states insistence that companies should not use hauwei technology. emily: what is the status of hauwei's use in the u.s.? mark: in the united states, it is even worse. this has been going on for about six to nine months. stopped selling hauwei products recently.

the united states has banned the pentagon from distributing hauwei phones and other products to pentagon employees. there has been other retailers in the united states being pressed to stop selling hauwei devices as well. they are hurting hauwei's online. rom and equipment perspective, they are other -- they are looking at other products. hurt in bothng directions. it appears the united states is behind efforts in other countries like the u.k., italy, australia, new zealand, who are also weighing the ban of hauwei telecommunications equipment in the coming months. emily: and now the cfo in custody. mark gurman, thank you for stopping by. we will continue this conversation with the microsoft president and get his take on continued trade talks with china.

whetherill ask him microsoft is concerned about its executives traveling in china at this moment. lyft is one step closer to going public. the company filed early stage documentation for an ipo thursday. pulling ahead against ride-hailing companies going public. this could be march or april of next year. uber is also aiming to list in the first half of 2019 according to bloomberg sources. which company will get there first and what does this signal for the tech ipo landscape in 2019? joining me to discuss is tim sullivan. your company has done more than $3 billion in transactions and is an investor in lyft you think beating over to the punch -- lyft? do you think beating over to the punches a good idea? >> i think it's a good one.

this is free publicity for them. thehing that camera mediate market is a good thing. emily: what do you think differentiates lyft from uber or is ridesharing and commodity? >> i think ridesharing is a commodity but left starting a few years after uber, was able to learn from a lot of the mistakes made by uber. i don't say mistakes but their initiatives to go abroad and they probably did not expect to crackdowns from regulators, punishing price wars, forced mergers and other things that happened. focused in theft u.s. and it is in more markets then uber, and has an efficient business cash on the balance sheet. emily: but uber is in more markets abroad. tim: uber is in more markets abroad because lift is not in any markets abroad. they have been experimenting in canada, but.

is a company conservative -- but lyft is a conservative company. company, as we believe, is looking at valuations between 18 and $30 billion. where do you think that evaluation will land? emily: our analysts believe it is somewhere in the low to mid 20's. tim: we bought our share of $1.5 billion. we bought secondary and were in secondary -- emily: what would you like to see lyft do? there are signs that uber's core businesses but telling which means -- business is plateauing. find additional scale?

i think it finds it through the philosophy and strategy they have employed from day one which is a partner sector mentality which is opposed to uber's go it alone strategy. there could be bicycles and scooters and a slew of different options and opportunities that i know they are exploring now. there will be ones that will be incremental for the bottom line as opposed to pioneer projects in may be areas that prop up the top line but don't necessarily flow. emily: what other things are you going to be following in 2019? tim: i think we will be looking for something from airbnb at least to be ready for an ipo. i don't know if they will necessarily file into those 19. allan would be great to see something there. 2019.o a 19 -- in palantir would be great to see

something there. i think the broader markets swaying and a swinging the way that they have over the last few weeks and months could be problematic for the i.t. market. emily: why? another two dozen 1, 1987, things could lock up. emily: do you think we could see another 2001? tim: i don't think 2001. the business models are much more baked. these are companies that have been around for eight-10-12 plus years. the real businesses. it would be a different catalyst and there is a lot of talk about what the catalyst could be. i think it is speculation. emily: where else are you looking to invest? knowing that we could be on the crisis orome sort of correction. tim: our investments are focused on liquidity.

in a two to three-year time frame. if things lock up in the public markets in terms of ipo's, we will be looking at them and other strategies to exit the of the private markets -- looking at m&a and other strategies to exit the private markets. emily: tim sullivan, thank you for joining us. coming up, australia cracks down on encryption. what it means for apps like whatsapp. could other countries follow suit? that is next. if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and, in the u.s., sirius xm. this is bloomberg. ♪

emily: whatsapp could be facing a tough time in australia. some ofs have passed the toughest anti-encryption legislation thursday. the bill seeks to force tech giants to help decode messages used in terrorism and organized crime. russia could be the center of a global battle over privacy and security. here to discuss is sarah frier covering facebook for us. whatsapp messages are encrypted from and to and specifically so that the government cannot get

to them. would facebook ever do something like this? sarah: no. they have had legal battles in other countries like brazil over the encryption on whatsapp, and this is something they're not going to change. basically, people can decide to use it or not, but this is their play for messaging service that is not so available by the government. that is something that whatsapp has is a selling point for the app. that said, there have been a ton of issues with this encryption. a have seen whatsapp cause lot of viral news sharing that is led to violence in some countries including india and brazil. there is a big risk year about what the future of the platform looks like. especially as it grows. emily: how has facebook handled that? could the law force them to do this in situations like this? they have decided to

change some of their auto forwarding. you can forward to more than five people in india and in other countries, they are not restricting it as much as that, but the government can have that kind of an impact. facebook has said they do comply with local laws where they have to. create inhey could australia up a specific -- specific version of -- all fairly a -- australia specific version of whatsapp. emily: you have been talking to we are seeing multiple camps emerge, many employees feel sort of attack by the state of media coverage. others want to leave. what are you hearing from employees? sarah: there are a few different opinions here that a hear from the employees at facebook. one of them is that we can't win. if we do more to try to police

our platform, people will say we are embedding ourselves too much in their lives and if we do not take control of what is going on, people will say we don't care. there are so many things that they need to start working on that are not going to help them grow. the stock is really declined over the past few months. employees wonder what we doing here. when are we going to return to stock growth because i remortgaged the fed. i have kids to put their college and we should not be worried about them, but i think there is a lot of sense of being under attack at facebook. they're coming to terms with the fact they are so powerful now. emily: we spoke to antonio martinez, a former facebook product ted and suggested facebook should be broken up. >> i don't think it is crazy to suggest that maybe instagram and facebook, and whatsapp should be independent. emily: all three of them should

be independent, why? is not clear that there is a lot of value to the user having them put together. at some point, facebook lost the ability to create new user experiences. they have to either steal those from snapchat or by them -- buy them. he is just an observer, not a regulator. what you make of that suggestion? sarah: the emails released this week by u.k. parliament will add fuel to that fire, that consideration of should facebook be broken up. thatw in those emails facebook was doing anti-competitive things. using the user's data as a bargaining chip with their partners. cutting off access, cutting off of vine, and keeping a list of punish ifs they could

they want to buy restricting use of data. that is the thing regulators will look at and say maybe there is something here. is an antitrust argument to make with facebook considering how valuable they consider users data to be. emily: interesting. sarah frier continuing to cover facebook for us. i'm sure we will see you back your next week. coming up, bitcoin sinks into the new year. will this continue? has the bubble finally popped? we will discuss, next. this is bloomberg. ♪

emily: cryptocurrencies resume their slide friday. the going following as much percent below $3400. investors reacted after the sec -- hopes a bitcoin exchange traded fund would appear before the end of the year. here to discuss is the ceo. how big will the market get?

>> i think it is in a tough place. it has been painful over the course of the whole year. bitcoin is down in the theory is down8% -- ethereum 18%. andto is a volatile class has dropped over 70% six times. over the long arc of the 10 year history of bitcoin, it is up. emily: so the bubble has not popped. >> i think this is our for the course for crypto. likethough it trades public equities, it is more of a venture stage phenomenon so it has volatility. emily: how are your clients reacting? hunter: it is a mixed bag. to share the numbers with you, we manage the currency funds and data products. about 4% of our clients ever deemed. over 20% have increased their investment. we work with a lot of financial institutions and advisers and

that is the audience sinking the teeth and right now trying to understand the space. people who view a bear market as an opportunity -- emily: you have more investors coming in or going out? hunter: going in. the audience has shifted. 2017, it wasnd of more individuals with self-directed accounts making nimble decisions. in q3 and q4 we have seen more among professional investors. emily: so you watch two new funds this week. how much demand are you seeing and two is it coming from? hunter: it's coming from the sophisticated investors. emily: but can sophisticated investors handle some of this on their own? hunter: there's a number of different options of investing in the crypto space but a lot of investors like the fund format because they can focus on thinking about the investment they want to make, and we take care of storing the asset

securely, integrating, the trade partners, dealing with reporting, answering questions, so it simplifies exposure. it is much the same reason investors like investing in oil through etf's and gold etf's. gold etf's. emily: how much in terms of asset management did you have in the beginning of the year and now? hunter: we're not sure that publicly yet before. emily: that's why i'm asking. [laughter] hunter: you are welcome to ask. it is a meaningful number, and we have seen it grow throughout the year, but not one we are sharing currently. emily: this is a very competitive space despite the slides, what do you think you are offering that is different? hunter: a lot of firms choose to partner with us because the group of people itself, the group of about 15 people now, half software, half veterans of the etf industry,. a lot of investors have come to the view that crypto is here to stay.

they want to make sure they participate and clients participate. it will be this confusing volatile thing and they will not become experts in it. they need to find the right partner for an extended period of time. emily: we have been talking about techlash. facebook and instagram are in a different position -- difficult position. any desire to go back? bitlash going to continue? hunter: one of the funniest things in the states is that crypto has never felt more positively positioned. at next year, we will see the new york stock exchanges watching futures in custody. cme has launched futures this year and a number of others. there are more participants than ever before. emily: hunter horsley, the bitwise ceo, thank you so much. coming up, protecting the world from harmful ai. smith onview with brad

faulty facial recognition is next. this is bloomberg. ♪

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emily: this is "bloomberg technology." i'm emily chang in san francisco. a.i. to be regulated. the facial recognition genie is just emerging from the bottle unless we act. we risk finding out five years real that facial recognition has .pread in ways that exacerbate we spoke with smith about why he is taking on the issue. brad: we decided to take on the

issue of facial recognition for two reasons. first, it was important to employees. they were asking questions. we were hearing the same questions from customers and civil liberties. second, once we thought more about it, we came to a clear conclusion and the conclusion was that this technology is very promising. it's going to improve the world in many ways. but it also has a real risk of abuse. and, rather than watch the technology move forward and see problems created, we thought it would be more important to be corrective, for the tech sector to adopt principles and for the law to move forward as the technology is regulated in the public is protected. emily: have you heard from any other companies, any lawmakers that want to work with microsoft on this? brad: yeah. we are heard from a lot of people. i spent the last treaties and three days in washington, d.c

many of my meetings included a conversation about this. what we're finding right now is very broad interest. there are many groups that want to see something like this go forward. and i think we are finding what i was sort of hoping that we would find. there are some people that say this hits the mark. some people say should go farther. some people say maybe this goes too far. aat tells us that this is conversation people are ready to have. when you think about how legislation gets adopted, you have to bring a lot of people to the table. and i think people are starting to recognize that 2019 is the year where this could actually start to happen. emily: what do you think are the chances of legislation actually gets passed quickly in this in private? brad: well, i think there are two things to think about. what is the likelihood of passage in congress? and i think that largely depends on whether we see an national privacy built to which something like this could be attached.

move forward in 2019. that is a 50-50 proposition. the other question is could we see something like this start to move in one of the states, or even a city? i think the probability there is substantially higher. and i think that is a good thing. in the united states we have long looked at states as the laboratories or incubators or new ideas. so we hopeful in the first half of 2019, we will see real legislation emerge, real debate start to happen and maybe even something signed into law. emily: the government is already using amazon facial recognition technology, which many people have expressed unease about. do think the government can come up with good faith regulation when it is benefiting from this technology? brad: absolutely. it's good that law enforcement is using facial recognition in appropriate ways. the police in new delhi use

facial recognition technology to find 3000 missing children. that's fantastic. if you look at the study that was done, just done by the national institute of standards and technology, they reviewed 127 algorithms from 45 companies, including microsoft. ours was at the very, very top tier in terms of technology performance. amazon did not submit its algorithms. it was not one of the 45 that did so. food about where the technology is going. this recognizes social media is a good thing and it turns out it can be exploited by a foreign government. let's address the risks of abuse before we are reading about the accidents that happen and let's do what we can to prevent them. people who work in government get that. they like to see more initiative by the tech sector to take these steps. there is an appetite around the world for getting ahead of problems rather than watching

car accidents based on technology occur before their eyes. emily: let's talk about the car accident. if what you're calling for does not happen, what is the potential for this technology to be used for ill? you talk about the bias, the threat to democracy, the threat to our privacy. brad: those are really the three problems we singled out and talked about yesterday. first, the real problem that still exists today in some places, especially as the technology is deployed that it just doesn't yet work at the same level of accuracy for women or people of color. hence, if it is not used properly or well, it will then create new risks for these groups. what we have specific we call for is a legal approach that will put the market to work. we've said, let's put in place a law that will require every tech company that provides facial recognition services to make available information about how it works and enable third

parties to test it. let's put the consumer reports of the world's work. that will incentivized the market to do better, tech companies would do but, customers can make educatioated choices. let's think about these broader issues before we see facial recognition in every store. before we see governments using this for ongoing surveillance of individuals anywhere, everywhere, all the, let's decide what rules we want to have in place. issues are specific enough that if we do not try to solve any potential -- every potential question right away we can start to put a legal foundation in place and create a healthier technology market. emily: could this mean real changes with respect to microsoft contracts with the u.s. and foreign governments? brad: what we also said yesterday is that we're adopting six principles now. they'll take effect in the first

quarter of 2019 as we put in place the tolls and -- the tools and policies to support them. this build on steps we have already been taking this year. there have been times where we've turned down business, whether it was for a law enforcement agency or for another customer. and we turndown business when we thought that there was too risk of dissemination. when we thought there was a risk to the human rights of individuals. we are changing ourselves. we are not going to wait for the law to pass. i actually think that is a conversation we need to have more often in the tech sector. law company say if the changes, we will change. why should people wait to do the right hting?-- thing? we have the opportunity to decide this is the day we will be responsible without making government force us. that is what the world expects of the tech sector and that is

what we should start to really demand of ourselves. emily: we will have much more of the interview with brad smith shortly. we look at his thoughts on tech and the trump administration as tensions from the recent trade truce rise. humans have gone to space and rockets for decades. but could there be a new way to look down on planet earth from above? this is bloomberg. ♪

emily: on thursday the microsoftemily: ceo joined group of tech leaders at the white house for summit to talk about the future of jobs and a.i.. we asked brad smith about the

meeting and what he thinks is in store for the future of u.s.-china relations after the arrest. brad: the meeting went well. haven't had a chance to talk about it in detail. but i think it is good that people come together for these kinds of conversations, talk about the issues of the day. obviously one of the keys to having good meetings like that is that not go talk about everything on bloomberg tv. but i think it was a good day. there will be more days like that, i'm sure. emily: in terms of what you can discuss, how concerned are you about the trade issues simmering now and how, located the situation has become? brad: i think that the trade relationship between united states and china is very important across-the-board and including for the technology sector. it's really evolved in a way that it almost has two pieces to it. first, i think it is

extraordinarily important to all of us including in tech that we get an agreement hopefully between the united states and china in t his 90 day window. that started last weekend. left.e roughly 84 days these kinds of negotiations are always come located and -- complicated and even hard. second, we are seeing real questions about technology. people are thinking in washington, d.c., about technology differently from most other products. and i think that we are going to need to have a more nuanced conversation so that people really can learn more about how technology is created in the world today. there are some technologies that are sensitive from a national security or military perspective. there are m any information technologies that are not. there is some information technology that is secret, but there is a lot that;'s not.

there is source code made available online. there are products that are built with people working on them around the world could i think as much as anything of, we have a lot to do in 2019 to help everybody think through just an understanding of the way the information technology sector works, how different it is in some ways from other industry beenrs that have long important to the national security communities of different countries. as people decide what kind of policy they want, whether they are sitting in washington, d.c., they have, at least ,t the benefit of all of the information they deserve. emily: yet, there has been a big potential wrinkle to any forthcoming agreement. awi has of hu been arrested in canada. some companies are reconsidering to. executives traveling

china. you have concerns about microsoft executives traveling to china? brad: i think it is too early for us to have a definitive point of view. obviously we follow these kinds of issues closely. i think thisthat should all give even more impetus for the importance of really working through these issues. toh national capital needs define its national interests, but i also think the world needs a stable relationship between the united states and china. it needs to be a relationship that serves well the interests of each country. but it also needs to be a relationship that benefits the whole.s a whenever you have the two largest economies of the world get together, i think there is really a responsibility to think not only about their own individual and collective interests, but what the relationship means for the world. the sooner we can think about the broad issues, and get some clarity around where our

governments want to go, i think the easier it will be for those of us in the tech sector and elsewhere to navigate our way through what obsolete is a complicated world -- obviously a complicated world. emily: the chinese made a good-faith announcement to stop ip left. how is this trade dispute impacting microsoft? how does this impact your business? brad: we've been in china for 25 years. the world is complicated. every country is complicated. there have been many complicated days in negotiations over the past quarter of a century. least reasonably good at navigating complicated situations. but we're paying attention. we're following this closely, obviously. and mostly i would say what i aboard he said. we-- what i have already centered we need a successful outcome in this 90 day window.

we're pointing you to really sort through an understanding of how information technology works. emily: last quetstion. you're talking about how the tech industry and how microsoft wants to be much more proactive about getting in front of some of these issues before they become car accidents happening before our eyes. i have to ask you about facebook. do you think that facebook has made some very strategic missteps in terms of how it has handled election meddling, fake news and how it always seems to be catching up rather than getting ahead? i approach these issues from the perspective of, we have a lot of challenges ourselves in the 1990's as a company. we made our share of mistakes and, because of that, i appreciate how hard this kind of situation is. what's happening of facebook and that other companies, and i see people

really working hard to think these issues through. i do think that fundamentally people have said, we need regulation. you hear tim cook, you hear mark zuckerberg saying we need regulation. we need to decide what kind of regulation make sense. and i think as much as anything else we need to come together and identify those spaces where a better regulatory framework will serve the public, and by serving the public, benefit the long-term interests of the tech sector. i would absolutely start with two areas. one is questions around privacy, including facial recognition, which is in many ways fundamentally a privacy issue. and the second is the threat that we are seeing as some governments fundamentally turn tools into weapons. that is what they are doing with information technology. whether it is cyberattacks, as we've seen, or whether it is disinformation campaigns on social media. things put these

together, fundamentally it calls on the tech sector to take new steps to be responsible and proactive ourselves, but it falls on governments to take new steps and for us to find a new way to work together. but we have got to get to the specifics. that is what we did yesterday. we need, i believe, to start to get to more specifics in 2019 on m ore of these issues. emily: could china surpassed the u.s. in a.i.? brad: i think we are going to live in the world where the united states is going to be an a.i. leader, china is going to be an a.i., but the truth of the matter, at microsoft, we have a clear goal -- a commercial strategy. it's called we want to make sure every company in every industry in every country has an opportunity to be an a.i. leader. there aere some industries that evolve were certain countries become the leaders. but there are other technologies that end up empowering everybody.

we don't sit around and say, who's the leader in electricity? we enabled everybody to use it. our goal needs to be to enable everybody to benefit from a.i. the way they benefit from electricity. that's not an easy thing. it requires a clear technology strategy and a whole lot more. but that is fundamentally our value proposition and what we are focused on delivering to customers and the government and countries around the world. emily: our interview with microsoft president brad smith. still ahead, the future of human trips in space. this ride to the stratosphere might not be the one you expect. this is bloomberg. ♪

emily: the space race is heating up with companies like boeing, and blue origin developing rockets that will one day carry passengers to other planets, but could a different mode of

transport get their first? -- get there first? worldviewo the ceo of enterprises, the flight technology company transporting up to the stratosphere using high-altitude balloons. one day soon, worldview enterprises went to send human beings up there and back, too. take a look. >> when it comes to getting into space, we've been pretty much doing it one way. >> each year 300 smaller rockets are used in scientific studies of n ear space. rockets have taken animals into space to prepare for the day when man himself will take the trip. >> but this woman thinks the way we should be getting there is balloons. >> if you're going to do something really different, you cannot have the word impossible in your vernacular.

>> and>> and some people might e thought it is impossible for a balloon to safely transport things into space and back, things like research tools, chicken burgers, and a google executive. but they are all made possible here in tucson, arizona come at the worldview headquarters. >> so, what is really kind of awesome about polluting looningogy -- bal technology, it is so completely different to the way people have thought about accessing space before. there is no noise, it is completely silent and you are using gravity. we created a vehicle that can stay continuously over a location. how we do that is the magic. >> the magic starts with a light, a giant balloon filled with a gas light helium that helps it float upwards. below that are smaller balloons filled with air which act as a dallas. -- balast. if there's less air, the craft

is lighter and moves up. all of this allows the light to sail the winds of the stratosphere and hold his position for days or months at a time. thee have launch all estimates, the landing all in the same vehicle. that is completely revolutionary. we can fly just about any instrument on it, whether it is coming occasions, weather is imitation, cameras, any device you can imagine. so, in the years to come, we are imagining that we can help millions. let's think big. billions of people get online who currently cannot be online. we envision being able to transform the way we work with hurricanes and other severe storms so that we can actually get much better warnings of what is happening with the storms than we currently have so the people can get out of the way. then we can even help the first responders with communications

in the sky and do this all around the world. space ambitions began with an earthbound adventure. biosphere 2. withg for two years seven other people inside a sealed off dome known to simulate life in a space colony. >> one of the seminal experiences was viscerally part of my biosphere. in a very literal away. we drank the same water over and over again. we briefed the same oxygen over and over to. again. that gave us this incredibly powerful perspective of the planet that we live on. it's very akin to the kind of experiences that astronauts have when they see the earth from

space. we wanted to find a way to really get that ourselves, but also to everybody else. world governments and companies are using stratlgitals satellitesameras and into the atmosphere, her goal is to send us other, too. >> if we can take people to space, i think it is going to change many people's idea about the planet we live on. the idea that we are all on this same planet together. then what are people going to do with that experience? that's the important part -- coming back from space and taking that experiment and doing something great with it. wow. how awsone that would be to be able to make that change in the world. --- how awesome that would be. emily: a space oddity, that could become an odyssey. that does it for this edition of

"bloomberg technology." we are live streaming on twitter. you can follow our global breaking news tictoc on twitter. this is bloomberg. ♪

david: when you were a young boy, did you say, i want to be chairman of the federal reserve board? alan: [laughter] david: you were called by many the maestro for being such a great maestro the economy? alan: i always got too much of the credit. david: you made your key decisions in the bathtub in the morning? alan: i was writing speeches in the bathtub. david: were you surprised by the amount of criticism you received at that point? alan: nobody forecast the 2008 crisis. david: could you solve the deficit and debt problem? alan: i see a lot of talk. >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok. just leave it this way. all right.