♪ >> this is "bloomberg technology," i'm emily chang in san francisco. in the next hour, snap delivers strong results thanks in part to its app. daily active users increased for the first time in the year. --tter reports positive positive results, drawing more consumers and advertisers but concern about hate and misinformation remain. i sit down with the cfo. google's drone unit has become

the only drone firm approved as an airline by the u.s. faa. what does this mean for the future of the industry? first, to our top stories. snap shares surged after reporting first-quarter results. the earning giving investors another reason to be optimistic for a revival of the social company. the parent of snapchat says it sales rose 39% from the previous year to $320 million for the three months ending march 31. snap also reported 190 million people use the app daily, compared to 186 million in the fourth quarter. >> in some ways, snap is back. but i want to point off right off the bat that the stock closed 10% higher, but still a long way off from the $17 ipo price this company went out with

in 2017. it shot up since the ipo, but since then it has been a really hash ride for this company facebook has stolen key features, or borrowed and used successfully rather, their key features. now the company is putting out key features. the android app appears to be moving the needle on user growth. emily: user growth did beat. analysts were expecting adding -- they would add maybe 600,000 users, and instead they added about 4 million users. is that something analysts believe snap can sustain? >> i am not sure exactly where that's going to go, but i think it is a positive sign when it comes to the android rollout. snap is a very big app, with a lot of video, a lot of streaming, a lot of things that take a lot of internet usage, an app best used on an iphone, a more expensive phone. now that they redesigned the app from scratch for android, which

took a lot of work, it took a lot of time, they have been talking about this for a long time. if they can pull in that whole universe of people, 85% of the world uses android instead of apple's ios. that's a lot more people. i think them attributing this user growth to the android boost shows some positive signs for things to come. emily: you have obviously covered technology for a long time, joining us here in the studio. do you think a real revival of snap is possible? >> indeed it is. i think it is the time in the social media environment where people are looking for a more private, more controlled environment like snap. i think there is a proper backlash to the more open social platforms like twitter and facebook. so there is a chance for snapchat to bring in a slightly older demographic back into the fold. they lost a lot of that attention, mostly because of people preferring instagram and

facebook and twitter. emily: the product for some is hard to understand and difficult to use. om: it is hard to understand for older people. for younger people, it is not, because they are very native on the platforms. my nieces, they use it all the time and have no problems. it took me a while to figure it out. but i did. emily: i will not tell you which side of the spectrum i fall on. gerrit, a couple weeks ago analysts said snap would lose users in the united states, and instagram would pick up those users. snap pushed back against that report really hard and said they were misinformed. how do we square those things? gerrit: snap was sitting on the numbers that they now put out. it turns out they were right. it's always tough with this. talking about the internet, social media, things flying back and forth.

we've been talking about concerns with facebook and twitter for a couple years, but instagram continues to grow even though it is part of facebook. and even facebook had a great quarter last quarter, and expectations for results tomorrow are positive. a tough business to look at, what's going on in society and say that means x, y, z for these companies' bottom lines. emily: om, as we discussed, facebook and instagram have copied many snap features to great success. stories are now a huge thing on both services. do you think that kind of competition is something snap can continue to defeat? om: i think you have to think about it from a revenue standpoint. snap invented the vertical advertising idea. facebook and instagram ran with it and made it pretty much an industry standard. that benefits snap. it can take a lot advertising created for those two platforms onto its platform.

i think there is a lot of things that can go right for snapchat, but snap has to get over itself. the biggest enemy of snap is snap itself. emily: what do you mean? om: they have been slow to move on things. they have been dismissive of emerging markets for growth opportunities. coming out in 2019 with the android app? that's a b-minus in my book. if 90% of the world is on android, why are you not? that tells you management has their own priorities. they are too cool for school, and if they continue, they have been like a great baseball player with a lot of potential, just not mike trout. emily: om malik, sticking with us. garret de vynck, thank you. texas instruments bolstered optimism that the electronics industry is starting to emerge from a slide in demand.

earnings will be as much $1.32 per share on revenue as high as $4.7 billion. one of the first chip companies to report for the march quarter, texas instruments provides investors with a view on demand across the industry. coming up, more tech results. we talk about twitter's performance in the first quarter as it continues to clean up its platform. this is bloomberg. ♪

emily: twitter surged the most since october 2017 after reporting first-quarter sales and strong user growth. the social network beat estimates on earnings and revenue, posting an increase in

monetizable daily active users to 134 million, twitter's new self-reported metric. this is as twitter continues to crack down on misinformation and fake accounts. i sat down with the twitter cfo and asked about the growth strategy. >> we have disclosed this percentage growth for the last nine quarters now. it has been growing in this range of 9% to 15% the last couple of years. the work for us is to get out of this range, by continuing to improve the service and get people a great experience when they come to twitter. so we are always working on improving the timeline, improving relevance of the notifications we send you. we will do work this year to improve onboarding. we have a great prototype app now, where you can see the things we are experimenting with, and we will bring the best of those to the platform over time. emily: so are you expecting that number to grow as quickly as it has grown? we are looking for it to

grow and will see how it grows over time. generally, you see a big seasonal uptick in the first quarter, with large absolute growth in the first quarter. the work for us is to sustain that in terms of percentage growth over the course of the year, but there are events, and typical seasonality that tend to help that number on an absolute basis in q1. emily: some analysts are saying this new number is not very transparent. we don't know how you decide what is a monetizable daily active user, so can you give us more information? ned: we feel it is perfect transparency, because that is the number we go against internally. monetizable daily active users are people who go to twitter.com or an app on the phone who can see ads every day. we can't think of a number that would be more simple or transparent and that to share with people. importantly, it is the exact number we goal against internally. we have been sharing a number externally for some time, monthly active usage. if we get people to come to twitter once a month, we have failed. we aren't delivering for them. we want people to come every

day. we want them to see value on twitter and keep coming back to find out about the things that are happening in the world and what people are talking about. emily: monthly active users, the number you are going to stop reporting as of this quarter but it is continuing to decline. international growth seems to be slowing down. your revenue guidance for q2 was a little light. should we be worried about those? ned: a couple things on those. m.a.u. is a more inclusive metric. it includes people who get text messages with tweets in them, things we are not designing around right now about the best experience you can get with twitter. that number has moved around a little bit over the last year. while d.a.u. going up, m.a.u. going down. they are apples and oranges. we began a broad recovery last year outside the united states. with -- the comps are tougher internationally in the first half, and get harder in the second half of the year in the united states. that is not meant as an excuse. it is just the math and how it works. the challenge for us, the work we will endeavor to undertake

all year is continuing to improve ad products, continuing to drive better ad formats, so we can deliver great results regardless of what the growth rates were last year. emily: you have been working on improving the health of the platform. you say that 30% of content is now being flagged by technology and flied -- flagged for human review? ned: 38% of abusive tweets we ultimately review are being flagged by machine learning as opposed to humans. that is correct. emily: how much realistically can you get that number up? how much more work can the technology do? how fast? ned: we think it can do more. it will be hard to get to perfect, but the goal is for us to have really clear policies to have a product that can enforce the policies, and to have really good people behind the product who can support the product in supporting the policies. hopefully that 38% grows up, but we are really proud of the progress we are making. emily: still, there continues to

be concerned about hate, misinformation, fake news is spreading on social media. we recently had a situation in sri lanka, a series of bombings, social media completely shut down. was twitter shut down in sri lanka? ned: instead of specific examples, let me talk more broadly about how we think about these things. we are in an incredibly dynamic environment, where people are using platforms like twitter in different ways all the time, and we need to both be respectful of the tragedies that sometimes will occur. we need to be thoughtful about how perpetrators use the platform, how victims use it, how people seeking news who are 10,000 miles away use a service like twitter to make sure people can trust the information they find, and that they are comfortable being part of the conversation. emily: what is interesting about the sri lanka situation, that the government shut down the services without any evidence that the crime was spun up on social media, but because they were concerned about misinformation and violence spreading on social media in the aftermath.

isn't that a concern, that that's the first reaction of an entire country? ned: it tells you there is still work for us and others to do, as well, in making sure people can trust the information on a service like ours, that it is being used appropriately. it's the reason why health is our number one priority, both from a resourcing perspective and a mindset perspective. emily: my interview with twitter cfo ned segal. i want to bring back ventures partner om malik, and on the phone forrester senior analyst jessica lu. you heard ned's responses there. what do you make of his answers when it comes to improving the health of the platform? jessica: i think it's a good effort by them, but they have a lot of work to do. the social network is still riddled with issues. i feel like the sort of small product tweaks they have made so far, like hiding comments or allowing comments to be hidden.

the party line about machine learning and ai detecting abuse, he said 38%. sort of continuing to rely on users to self-report or colace, those efforts are not those efforts are not going to change the social network dramatically. i would love to see a stronger position on proactive content moderation and regulation policies, explicitly stating what is banned, what is allowed versus what is banned. harder and more consistent evidence of how they are handling bad actors would be helpful to see from them. are they banning them for life? are they not allowing them onto the social network to begin with? and it would be great to see the voice of the users, running some periodic user tests or surveys to see the actual impact of the cleanup efforts. in the overall health improving from the user perspective, i feel like all those questions and answers quite frankly are missing. emily: om, would you agree? om: i agree with jessica. but i also understand this is

not an easy problem to solve. i think the challenge for any information system is to start to distinguish between rumors, information, news. and half-truths. i think it is much more a difficult thing to achieve than we on the outside like to think. but i definitely think twitter should be doing more than they are currently. they should be looking for ways to validate the actual accounts much more strictly than they are right now. there's a lot of low hanging fruit they could be plucking right now to make it better. emily: on that note, jessica, you mentioned that felt that this new monetizable daily active users metric was not very transparent. ned responded to that concern there. we see that number growing, but of course it is a number that twitter chooses. did that answer satisfy you?

jessica: yes and no. he answered the question of how twitter is defining monetizable daily active users, so that was helpful to hear directly from twitter. however, those numbers make twitter look good. i realize yes, it helps them with stopping their double-counting, excluding fake users. but when twitter's user numbers look better, the ad pricing and advertisers' media plans hinge on those user numbers and impressions. so a social network finding a way to improve their user numbers helps boost their ad revenue in the long run. so there is this ripple effect that happens in media buying, and selfishly from twitter's standpoint to find a number that helps them improve on the user front is good for them.

so there's sort of a hidden incentives, if you will, there. emily: meantime, minutes after i sat down with ned segal, news crossed that jack dorsey, ceo of twitter, had just met with president trump in a closed-door meeting. we don't know about that meeting, twitter is not commenting, but the president did tweet about it -- great meeting this afternoon at the white house with jack dorsey from twitter, lots of great discussions about social media. looking forward to keeping an open dialogue. the president was complaining about how republicans are treated on twitter, and complained about twitter in doing some account cleanup, the president has lost followers, jack dorsey has also lost followers but i cannot recall mark zuckerberg meeting with president trump. what do you make of this? om: tim apple met with president trump. [laughter] if he is the president of the country and wants to meet an executive, saying no is a choice you make.

but as a citizen of the country, you do actually -- you may not like the person, but you have to meet the president. emily: maybe we don't see it in the growth numbers, but twitter is a huge part of the national conversation, and is the president's platform of choice. om: it is where news happens now. it is not on cnn, it is not elsewhere, it is on twitter. that is where the genesis of information is, and everything comes from there. so it is an important platform. there's a lot of work to do for these guys, but you can't hold a ceo responsible for going and meeting the president. yes, there's a lot of people who in silicon valley do not appreciate the president, but that doesn't mean you shouldn't go. that is how i see it. emily: twitter has said over and over again, the importance of reflecting different views. om, you are sticking with me. jessica liu of forrester, thank you so much for coming in.

-- calling in. i should mention, bloomberg lp, the parent company of bloomberg news, produces tictoc, a global breaking news service for twitter. all right, coming up we will talk about facebook filling some top positions as the social network prepares for more regulatory hurdles and push in -- pushback in 2019. details next. this is bloomberg. ♪

emily: facebook made two high-profile hires this week. the company named jennifer newstead as general counsel, and a new vice president of global communication. what does it signal for facebook's strategy going forward as they wade through backlash, controversies and the threat of regulation? jennifer newstead, a long time corporate lawyer in washington focusing on legislation, for a short time an advisor to the state department. john pinette worked for bill

gates, also credited with writing parts of the patriot act which expanded law enforcement's ability to conduct surveillance after 9/11. we talked earlier about the possibility of a snap revival. you are optimistic about that. do you think facebook can claw itself out of this mess of scandals and controversy? om: one of the key things you have to think about with facebook, who are the people they are hiring? in the last two to three years, the company has been hiring people from the political spectrum. whether it was the accidental hiring of whatever the organization was, bringing in politicians to represent the company's pr, nick clegg and a few others. so you are looking at a company which is -- that increasingly understands that its battle is going to be legislative. it will be fought in washington. i think it is preparing for that. i don't think this company

improves in any particular manner. the people they are hiring now, they are here to defend its actions, not improve its actions. this company is not changing. emily: what about users? om: users and facebook have never been aligned at all. facebook's world is all about facebook. all the stories in the last few weeks tell you again and again and again that facebook has only one incentive, to look out for facebook. users are just pawns. to be pushed aside. emily: you deleted your facebook account long ago, but you still use instagram. om: once or twice a month. emily: do you think instagram or maybe whatsapp can be the hope for facebook, the future? om: i see what is happening at instagram, and they are becoming more facebook-like, so it is only a matter of time before i delete that account. emily: all right.

om, if you could predict where facebook is next year, what do you predict? om: right here. we are all complaining about their actions. they are still making money. they know investors are super happy with them and politicians are making noises that we should be do something -- doing something about them. emily: i should correct myself earlier, jennifer newstead is credited with writing parts of the patriot act, not john pinette. it will be interesting to see how both new hires work out for facebook. obviously, we have seen a lot of executive turnover. these are two new players on the chessboard. true ventures partner, om malik, always good to have you with us. thank you. coming up, lyft has gained new "buy" ratings at five firms. what these analysts are saying about the company's long-term opportunities next. and later in the show, clear for takeoff. alphabet's drone delivery service gets an unprecedented clearance from federal authorities. we look at what it means for the

future of unmanned deliveries. this is bloomberg. ♪

emily: this is "bloomberg technology," i'm emily chang in san francisco. on a tear breaking record after record, but the push is driven by a handful of familiar names with four adding half its gains this month, those for, apple, amazon, microsoft and facebook. these companies have orrectively contributed 50% of the nasdaq's gain in april. joining us to discuss, from new york, what are the main drivers of this rally? >> it's interesting the intro that you have. that's 50% of the point gains on the nasdaq 100. if you throw in cisco and intel,

it's about 60% of the point gains that we had since the december 24 low have basically come from six or seven stocks. you have to sort of wonder how much further this rally can go if you don't get a little bit more participation from some of the smaller companies. that's really sort of been the issues here. a lot of analysts say it's fine. we can ride this wave off of those big companies. at some point, you run into that wall. if you don't have the smaller companies sort of participating in the rally, that rally is going to fade out pretty fast. emily: the question is will the momentum keep up? romaine: the short answer is there is potential. we came into the earning season with a pretty low bar. there does seem to be some sort of narrative here that the growth story is in check at least for some of the companies, particularly on the software and service side and on the cloud services side. you're still seeing some weakness in semiconductors and hardware. when you look at the price action over the last couple of days, you saw some huge block trades move across the tape, people buying into this rally,

not only the individual stocks, but we saw on the e.t.f.s, the igger buyers do see this as an opportunity to get in. emily: lyft has been upgraded by four different analysts after, you know, days and days of sort of negative sentiment following the company's i.p.o. at the end of the day, 1% lower, but why suddenly all of these analysts coming out with good news? romaine: most of these analysts, if you read their notes carefully, they're focused on the long term growth story. they're really not necessarily looking out one, even two years. most of them, they were quite bullish on it, they had caveats with regard to the company moving to more acton mouse type of driving system and beating back the competition. credit swiss, 12 months price target at 26, excuse me 96 and jeffries has a price target of around 86. when jeffries with its price

target, it said, look, it can reach this price target primarily because it has a much younger base. it also has positioned itself in certain cities a little better than uber, more growth potential. a lot of the value in this stock and company is going to be how much it controls costs and you're going to see that reflected in the share price either up or down depending on how that shakes out over the next few weeks. emily: it will be interesting when uber gets out of the gate to see the comparison between analysts and whether coverage of one impact coverage of other? romaine: most analysts say uber will steal a lot of thunder from lyft once it actually comes to market. there are a lot of folks that look at these two companies as being identical. of course, both uber and lyft would make an argument that they're not necessarily one and the same. they have slightly different business models and some analysts say they should be valued differently and they should even be included in a portfolio together as companions

or counterweight to each other. it's how portfolio managers view these companies, view their narratives and make a decision, do i own one or the other or maybe can i own both. emily: romaine, thank you so much for stopping by. well, moving on to streaming netflix is returning to the junk bond market facing increased competition from new streaming services from the likes of disney and apple, netflix is selling $2 billion worth of bonds in a two-part offer. to match some much needed funding for a company that has burned through cash through 19 straight quarters. to discuss we have bloomberg's corporate finance reporter molly smith. obviously, molly, netflix is making lots of investments in original content. at what point is wall street less forgiving? molly: we haven't reach that point, emily. this is a company that is continually cash flow negative and looks for are to be for the foreseeable future with netflix

looking to burn through $3.8 billion of cash this year. we haven't reached that turning point of the cycle. as management said last week, they are expecting their financing needs to shrink starting next year and that the bond sales are going to shrink with it so that the company is going to move towards more of a self-funded and ultimately profitable model. emily: do we have any more detail on where they will spend this money? they have used this term general corporate purposes. molly: they give us a little bit of guidance, that can include content acquisitions, it can include development and production. it can include acquisitions more probably. they really do use this one catch y'all umbrella term that most companies use in their use of procedures. for netflix it's about generating content green. that's been where the bulk of the dollars being spent are. they're planning to invest $15 billion in content this year lone, so clearly that is where

a lot of the money is going toward. that's what the story has been with netflix all along and why they continue to be cash flow negative. emily: and competition from disney unveiling their new streaming later this year, apple, and warner media as well. is there any indication as to when netflix's financing needs will subside? molly: that will start next year in 2020. i'm glad you brought up about the point about the other competitions with these other treaming services and what offerings they can be providing. a lot of those companies, apple, disney and amazon have thought to be possible acquirers of netflix in the past. for bond holders of netflix, that would be an immense positive if you could be taken out by a really strong investment grade company like any of those three and have that kind of a balance sheet to support your borrowing. emily: we will stay tuned, bloomberg's molly smith, thanks

so much for weighing. cbs has suspended its search for a new chief executive officer and acting c.e.o. agreed to stay on for the end of the year. in a statement the company said we're very pleased to recognize joe's talents and efforts with the extension and we look forward to all that he will continue to do to build on cbs's remarkable momentum. he took over after long time chief les moonves was ousted over allegations of sexual misconduct. coming up, how uber is trying to fix the company's relationship with local law enforcement across the globe as it prepares to go public. this is bloomberg.

emily: uber has discovered a way to get the police departments on its side. it's sharing its ride data with law enforcement. bloomberg has the story, bret joining us now. bret, what is uber sharing with law enforcement? bret: yeah, so remember they have 15 million rides a day, 3

million drivers, so they have a little bit of everything to be honest with you. they've got your driver's license number, they have vehicle and insurance information, they also have g.p.s. data and they use a.i. to look at facial recognition and that sort of actually can help prevent people using multiple aliases, they have a little bit of everything on offer. emily: in the past, uber has had a contentious relationship with law enforcement and is indeed being investigated for criminal and illegal activities around the globe. are police departments buying this? bret: what the police departments are trying to do in the establishment of these global law enforcement teams that we write about is really try to find a way to liaise with the company and the company to liaise with them. they're on the ground than different tech companies are and they have to treat things differently. bloomberg business week has two dozen instances of them trying to shield files from local law enforcement. in our reporting, what we found is these very sort of intimate conversations with people involved in cybersecurity, what they're trying to show local cops, look what we have, we can be of help.

emily: so talk to us a little bit more about the global law enforcement team and some specific cases they've been working on. bret: there is about 70 members right now. it's really been going. they liaise with 300 different agencies in 51 countries. a couple things that they have been involved with, for instance, the london bridge attack in 2017, they helped to establish a geo fence around there so no one potentially involved in the attack could escape. they were also helpful in the parkland shooting, actually last year, where they informed the broward county sheriff's office that the alleged shooter had actually taken an uber to the school. they were involved in those. they were attempts to be helpful during the parisian attacks. emily: what do privacy advocates think of about all this? bret: they're not that excited about this. uber has a history of mismanaging data, in september they agreed to pay $148 million to settle a data breach.

more importantly, if you use uber, if you signed up for uber, your information and probably will be shared in the kind of request that police departments make to uber. and instances like the parisian attack, there was an uber driver who thought that he actually had one of the terrorists in his car and thought he was being helpful in reporting it to uber. it actually turned out that this person that he had as a passenger was just an international businessman who's traffic patterns happened to sort of mimic that of the terrorist, but he got swept up in this thing. it's very easy for your information to be shared in that way. emily: if you could look out one to two years, this is a company that is changing very fast. what do you imagine the relationship between uber and police departments will be, because, yes, as you say, this is critical information, but it

is also private information. bret: look, as companies as uber grow, we know they start to think of different considerations. i don't think it's coincidental that the growth of this team comes right before their i.p.o., though what i can imagine happening is only a further sharing of this level of information across more of these global law enforcement teams. you got four agencies open right now, the largest of which is in amsterdam, but the companies announced two more. one opening in mexico and one opening in brazil. my guess is they're going to continue to open these to try to facilitate as information sharing. emily: bloomberg's bret begun, fascinating story. you can read the full story in the upcoming edition of bloomberg business week and hear from our magazine's editors on bloomberg radio. a drone operator got certified by an airline.

the unit can now begin routine deliveries in u.s. skies and beginning with deliveries in a pair of rural areas in virginia in a couple of months. to tell us more, we got our bloomberg aviation reporter in washington. so alan, this is kind of a big deal, what does this mean? alan: well, you know, it means that they really can start taking money for deliveries. up to now, they've been able to deliver things, but couldn't, it could only do it as a demonstration and so it moves it forward. i have to say, in terms of significance, i would almost say it's as important for other aspects of the drone world as well because this creates a road map for any drone company to become a part of the mainstream

viation community and that means, you know, companies that want to fly these in construction sites or do long range surveillance of things like bridges and that sort of thing, it really opens up all shorts of commercial opportunities. emily: so what exactly are they going to be doing in virginia? alan: i think a little bit of what they're trying to do is ust test the market. the wing model, unlike amazon where they already are giant retailers, they are going to partner with local merchants and ell items and i think, you know, part of what they're

trying to do is see exactly what will sell and what will not. do people want to get an instant tube of sunscreen or more interested in burritos. it's trial and error. that's what they're hoping to do starting as you say in a couple months. emily: what about the safety issues? are they going to tell everyone in virginia, hey, something might be falling out of the sky and going forward? there is still many, many outstanding concerns. alan: so there are definitely concerns. the folks at wing are going to spend a considerable amount of time in the next two to three months working with the local community to try to smooth over feelings to make sure that there is no backlash. i do want to mention, you know, in terms of falling out of the sky, the reason that the f.a.a. was able to certify wing's operation is that they have a high degree of confidence that their aircraft will not be falling out of the sky. ow, you can't say that about

the drones that you're buying over the internet for hobby use, they're not nearly as robust, but this has multiple backups and that sort of thing and they have conducted thousands of flights, some here in the u.s.,

but a lot in australia. that's what gave f.a.a. confidence that they had enough robust backup system so that

wouldn't be happening. emily: that is somewhat reassuring. we'll be watching to see how this plays our. bloomberg's alan levin, our aviation reporter, things for that. still ahead, construction is one of the largest industries as yet untapped by technology. bringing construction into the digital age and we'll talk to the founder next. this is bloomberg. m emily: considering an investment in wire car that could give it a 5% stake in the beleaguered payment firm. they have hired financial advisors and buy bonds that could be concerted into wire card shares. eople familiar with the matter say it could shore up investor confidence after alleged accounting wrongdoing at the company's singapore operations. well, the global construction industry is valued at over $10 trillion, yet it's been notoriously slow to catch up with technology. according to data, construction inefficiency cost the global economy $1.6 trillion a year. in construction projects regularly lose up to a third of their value because of it. plangrid wants to close that gap. it gives the ability to collaborate in real time and it's mobile first technology savings users roughly seven hours a week. joining us is tracy young, cofounder. thanks for being on the show. how penetrated is the construction industry by technology, how much is there?

tracy: in terms of accessing the construction records which is the problem that we solve, most projects are being run off paper and pen. emily: how penetrated is the construction industry by plangrid? how much-- tracy: in the last seven years, 1.5 million projects have been built with plangrid. this is from the smallest kitchen remodels to the largest projects in the world. emily: talk to us how you help contractors, what is it, it makes sense, bring to life to me, you're giving them the ability to create 2d and 3-d models, for example. >> sure thing. as a contractor, you take the drawings and specifications and translate them to physical structures. part of that means you need access to all of the construction information and with paper, it's just hard because on a building like this, the initial set can be 10,000

sheets of paper, how do you bring that into the field. well, super simple solution with plangrid, put them in the cloud and make them available on mobile devices. when things change, hit publish and everyone gets access and updates from their mobile devices. emily: you got bought recently by auto desk, how does that change operations? >> a lot of things haven't changed and a lot of things have changed. we were a 400 person firm ntegrated into a 10,000 person company. i have a boss now for the first time in seven years named jim, that has changed. emily: now, construction can be cyclical, i wonder how that impacts your business, when there is an economic downturn, could that spell trouble for plangrid? >> we see investment in construction is still massive,

it has to be, construction is the infrastructure of the world. there is a shift, though, from commercial office buildings and really expensive condo minutums into infrastructure projects. emily: it is an opportunity? tracy: our population is increasing rapidly. there just isn't enough housing nd infrastructure to support the growth. emily: so when you sort of model your own outlook for let's say the next one to two years, do you factor in the economy and what's happening? tracy: it's certainly on our minds in every discussion at the leadership level. we do believe that the emerging markets will keep the economy going, the global economy going. we're proud that finegrid is used in over 100 countries right now. emily: you are announcing a new product. tracy: building information

modeling. now that we're a part of auto desk, one of the nice perks is we get access to their technology. as leaders of design, we are bringing design directly into the field. we have launched plangrid into the field. it gives our users the ability to be in 2d, access the information directly from plangrid and also with one tap, switch over to 3-d and go back and forth from 2d to 3-d. we couldn't have built this as fast without access to auto desk. emily: now you have risen to the top of two male-dominated industries, the tech industry and the construction industry. so what kind of advice do you have for the women who come after you? tracy: i think this advice would be good for males, too. work hard and don't complain. emily: all right, so, when ooking at the construction and

trends in construction and technology in construction, what should we be looking out for in the next one to five years, what sort of trends are you expecting to see? tracy: we just have to become more productive as an industry. that means that given construction is crucial to the economy and environment and society, we have to do better as an industry and that means the materials we use that negatively impacts our earth to the amount of time we spend buildings these projects. we can't afford wasting time. we have to deliver the world's infrastructure or else the eople who will suffer the most isn't me or you, it's everyone who is less fortunate than us. emily: tracy young, good to have you here on the show. thank you so much for stopping by. that does it for this edition of "bloomberg technology." we've got lots more earnings coverage later this week. all reporting results, we will be across all of it. and remember we're live streaming on twitter, follow our breaking news network on tictoc. this is bloomberg. m

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