♪ ♪ ♪ i'm emily chang in san francisco, and this is "bloomberg technology." tesla aims to raise $2 billion in new capital after musk repeatedly said he no longer needed it paired microsoft's big -- needed it. plus, microsoft's big bet on the cloud. we speak to the executive vice president. and facebook bands controversial

right-wing personalities from its platform, saying they violated policies on hate speech and violence. first, our top story. last year, elon musk was certain tesla wouldn't have to raise anymore capital, and now he has to change. raise $2nning to billion to replenish its cash. they filed to sell 2.7 million shares and about $1.3 billion in senior convertible notes. to talk about this, i want to bring in cross as it reporter luke kawa, and our analyst covering the company. why the sudden change of heart? >> tesla had a terrible first quarter. cash fell to the lowest position in three years. any executive wants a good daca. it is -- a good buffer. it is scary to be close to the razor's edge, especially with projects in the docket. emily: how could musk have underestimated so much how much

tesla would need? luke: that is a question that should be asked. the overrunning sense is relief, that he was able to come to his senses and realize there was a need for this to happen. that is essentially what wall street was saying, which is why you see the reaction in the stock. but correct me if i'm wrong. we almost seem to need to go back to the well, because this doesn't do much more than close a working capital cap. in terms of ambitious plans they might have going forward in different business lines elon musk has said they might get into, it seems like more capital or a real turn in free cash flow generation that they haven't been able to pull off is in order. emily: would you agree? dana: yes. they just aren't selling enough cars at high-volume yet. more funding until they reach that volume. emily: i have a chart here on the bloomberg that shows tesla's free cash flow. you see a dramatic change from

the last quarter of last year to the first quarter of this year. what happened here? they paid off some debt. dana: a huge, $920 million debt, a payment that was really a drain on the first quarter. and that, tied with the lower than expected -- emily: not great results. luke, talk to us more about what these offerings might look like. luke: tesla, if it were to go back to the junk market, triple-c credit, it would probably be a little too expensive. the coupon is fairly normal, pricing 1.5 to 2. the figure thing today to 2024, they will mature in and yet tesla has 2025 obligations that are outstanding. this was one of the best days for issuance ever. so the idea, even though these

mature after, they would have to be paid back if the converts don't kick in and you don't get the big equity rally. it's unclear how much this really does improve the position for 2025, but investors are saying they are happy you got more money. emily: dana, more broadly, what is tesla's plan to become self-sustaining in the longer-term? dana: they are no longer really talking about that. about beingtalking cash flow neutral as they ramp up the fleet of autonomous robo-taxis. the model has shifted a little bit from bringing the model 3 to the masses to autonomous, an expensive endeavor. emily: what is the reaction? luke: dan ives recently downgraded the stock. he was positive on this release, saying it was a good start, you

probably need more. on the other side, one analyst essentially said the reason for he juste -- raise, can't get a way for tesla to be cash flow positive, so this is enough reason to be more bearish or less bullish on the stock. the market voted today, and i would say that represents the sigh of relief, better late than never the pervading sentiment now. emily: dana, do you see a real sentiment change in focus on the company? dana: no. everyone is still in their bunkers. very polarized. the stock did rise today, but it is still off by more than, i have not checked lately, but it was down 30% yesterday. nowhere near the all-time high. they have a lot to do this year. kawa forna hull, luke

bloomberg. we will keep following. the u.s. defense department faces new pressure from congress over president trump's proposed space force. the pentagon asked for $72 million in initial funding for the program. lawmakers say they need more information about why the new service is necessary. military leaders testified to the senate about a potential space force. the hearing may have only fueled skepticism, however, among lawmakers. coming up, microsoft's cloud business is on the rise, but can it hold its own against market leader amazon? microsoft's from top clad leader next. and you can listen to bloomberg at bloomberg.com, the bloomberg on sirius the u.s. xm. this is bloomberg. ♪

emily: next week, over 6000 developers will go to seattle for microsoft's veiled conference, where we get a first look at the latest development tools and cloud services. ahead of that conference, they to announcing new services create the next generation of so-called intelligent cloud. the cloud is becoming a primary driver of microsoft revenue growth, as they continue to take on rivals like amazon and google. the company recently saw 73% growth in revenue in the azure business, and they expect intelligent cloud sales to hit $11 billion this quarter.

joining us to discuss, microsoft executive president of cloud and a.i., scott guthrie. sundar pichai asked you to run this division. tell me about that transition? scott: i have been fortunate to work with him for a long time. , the daye became ceo before he became ceo, i took on his role. emily: what did he say? scott: we worked so closely together. it was a pretty quick conversation. on the whole, going through the cloud transformation, incredibly fun to be part of, and more importantly helping customers through it. it has been a great ride. emily: in the break, we talked about seven to eight years ago the business didn't really exist. so it has grown fairly fast, and you made a big decision a few years ago to focus on cloud,

shift workers and resources to the area making millions of dollars, from areas making billions of dollars. you are an engineer by training. how did you make that decision? scott: in technology, things move fast. the most important thing is trying to understand where the hockey puck is going and how you skate to it. as a company, we missed a couple trends,, as is widely known. we saw cloud and said that this is a trend we aren't going to miss. more than just the technology shift, we are seeing every customer out there looking to reinvent themselves, do digital transformation. cloud is integral, and i think we were able to execute very well. it aligns incredibly well with what customers are looking for. we have, it has been great to see the success both of their businesses and in turn with hours. emily: how do you compete with amazon when they got a head start, four years earlier in this business? scott: the thing that we focus on, how do we really focus on

the enterprise market, the startups? i think that is something we did early on, whereas amazon focused more to begin with on consumer startups. it allowed to play to our strengths around hybrid, which is a key differentiation we have competitors, and allows us to look at the overall microsoft cloud portfolio, not and azure, but office 365, a really unique set of offerings. amazon and other cloud vendors don't have them. emily: now, are you taking business from them, attracting customers they have? or are you mostly winning new customers who are new to the cloud entirely? scott: we are seeing both. we definitely have a number of very large customers that have switched to our cloud, azure. and what we also see, the market has been growing, and we are

taking a disproportionate share of the growth. that has been driving our overall cloud momentum. and the market is still fairly new, and it is not anywhere near over in terms of the growth phase. what we get energized around is just the tremendous opportunities ahead, not just to begin to grow our business, but more importantly grow our customers' business as we enable them to do more and take advantage of the cloud to reinvest. emily: so do you see the pie getting bigger? if so, how much more of the pie will you have in the future, in terms of a percentage? if amazon is many times bigger than you now, what does that look like in three or five years? scott: i don't think amazon is many times bigger than us. maybe seven years ago they were. now i think if you look at the enterprise market, most people have us pretty close in terms of overall cloud share for businesses. we see the opportunity ahead as, you know, really enormous.

everything is moving to cloud over time. not just traditional i.t. workloads, but cars, retail facilities, manufacturing, a bunch of technology where we never had any part of the patient in terms of the core business -- participation in terms of the core business. that enables an enormous market. emily: i know it is not a zero-sum game, but do you feel this is a market where there will be one clear leader, or many? scott: i don't think there will be one. i think they will definitely be several. it is, again, a trillion dollar market, a very big market. the thing we are uniquely focused on is how we have this unique value proposition that really makes our customers successful, and really honing that down is the most important thing. and if we do that, we will have a big business. i think others will have successful businesses as well. emily: you are now as a result of this managing high-stakes

events, like black friday, or on the other end of the spectrum, elections. how do you keep up, especially when there are constant threats in cybersecurity? scott: trust is something we focus a lot on in microsoft over the last couple years. it is around how you provide the reliability that customers need, how you provide the security, including cybersecurity which is of paramount importance, and also just from a compliance and regulatory perspective. we are in a dynamic, changing, global world where new regulations and data sovereignty needs are popping up. we are focusing on how we deliver trust. we know that is integral to success. emily: microsoft played an important role in making the public aware of russian threats online. earlier this year, microsoft said that some accounts were targeted, think tanks targeted to sortan intelligence of undermine some of their activities.

how critical has the cloud team been in managing those kinds of threats? scott: i think the opportunity the cloud gives is much more signal on what's happening, and also the ability for us to help our customers understand how they are being attacked. emily: buy signal are you saying that you are detecting? scott: in some cases we are detecting, able to use our ai technology and more advanced security capabilities to tell customers when they are being targeted or attack, hopefully not successfully. but even if they are actually targeted. part of what we rolled out its capabilities where we can proactively tell customers when we suspect somebody is probing their environment, or trying to compromise their emails. that is a big differentiator. a lot of enterprises in particular are now realizing that the cloud can be more secure, because they can get more intelligence than what they used to be able to have inside their own data centers. emily: employees at microsoft,

google, amazon, have protested ' work with the government. satya nadella has made it clear microsoft will work with the government. how do you draw that line,, in terms of what customers you will and won't work with? scott: one of the things we have been very focused on has been around being principled about it, not trying to make an individual decision on a case-by-case basis. instead, we publish our principles. brad smith, our president, published a blog post that listed in very clear terms, here are principles and our rules of ai ethics. we will be principled, make sure we stand to those roles. obviously we are all citizens of our government, and we are an american company. we want to make sure that our government in particular we can help and assist, but we will be very clear as we do it and very principled. we found that resonates

pretty well with our employees. it is an important debate that we want to make sure we have both with society but also with our employees as well. emily: bloomberg reported satya doesn't want executives focusing on the market cap, most valuable company or not. but how do you not look at it? do you really not pay attention? scott: something i think a lot of people get surprised about, that we don't focus, we don't have a party or anything like that. [laughter] at the end of the day, the things that -- thing that matters is our customers' success and being focused on customers. satya has spoken pretty eloquently, when you start believing in the hype and celebrating your success too much, you lose sight of what is important. we have been trying to culturally make sure, because in the last 20 years we have seen highs and lows. emily: but the day you became the world's most valuable company, wasn't that cool? scott: it honestly wasn't

different than any other day, which i know everyone find surprising, but staying humble, staying focused, and again really making sure the customer is at the center is the reason we got here, and it is the only reason we will stay in the position we are in. so we will stay focused. emily: all right. microsoft executive vice president of cloud and ai, scott guthrie. thank you very much. coming up, the hottest ipo of the year, and it is not uberm, not lyft. it's beyond meat, and it has grilled up one heck of a public debut. we tell you how, next. ♪

♪ blue originbezos' successfully launched and landed the 11th of its new launch systems. this was an unmanned test flight, which could have major implications for blue origin as it competes with the likes of spacex, getting them one step closer to launching humans into space. the payload contains nasa equipment. blue origin hopes to one day send paying customers up, up and away, and hopefully back again. [laughter] in a year when all eyes are the debut tech ipo's, of another type of company has gone beyond all excitations. beyond meat makers of a meat,based, meat-free

rose 160% on the nasdaq, leaving it with a valuation of $3.8 billion, making it the best debut since the financial crisis. ceo ethan brown spoke to bloomberg after the bell closed on a day that was indeed quite rare. ethan: i am someone who really understands and believes in the role that meat has played in our evolution and culture today. so much as we have evolved as a species. so i don't think we will stop eating meat, but i do think we can transition people from an animal based meat to a plant-based meat. so consumers buying our product today, this is interesting. looking at consumers in the nation's largest conventional grocery buying are product -- our product, 93% of those consumers are also putting in animal meat in the cart, maybe salmon, poultry. that's exactly where we want to be, helping them to transition

for a product that is better for them and better for the earth, but seamlessly. this is about enabling people to continue to do what they love you you love burgers -- what they love. you love burgers? you can continue eating them, and more, without the cholesterol. that is the value proposition, rather than a smaller segment of the population. down the aisle this week and at the grocery store, and they had all the vegan burgers and meat substitutes and there were a dozen brands there. how does beyond meat differentiate itself or stand out from what is already a pretty insanely crowded grocery shelf? ethan: the first distinction would be that we have really been pretty adamant with retailers that we need to be in the meat case if we will sell into their stores. some will put us both in the meat case and the alternative section as well, but our home is in the meat case. something really spectacular happened to us in that meat case in southern california at the

nation's largest conventional grocery. we became the number one packaged burger in the meat case, outselling angus. otheras higher than products. my belief, as we continue to improve the product and work on pricing, we will capture more and more of that market share. i came out of the clean energy space. i was working for a long time in that space. when you have a global problem, like we have today with rising population and the type of protein that we are consuming, the impact on the earth and on our bodies. we need to spend like it is a global problem. bring big solutions, big plans. so we have really said, let's bring the best scientists, the best engineers, the best managers and fund them properly like it is a global problem, and then get out of the way, support them along the way. they have done a fantastic job responding to that challenge. we have many years ahead of us,

but we are off to a good start. caroline: $241 million now to spend potentially, as i hate to reiterate that you could have gotten a lot more. but with that money to do r&d now, how quickly can you bring more products to the market? how quickly do you want to? is there a need right now? ethan: our innovation platform is called the beyond meat rapid real endless innovation program. the goal there is to work as hard and quick as we can to make the products currently on the shelf today obsolete. we do that for a couple reasons. one, we feel urgency to what we are doing. consumers are demanding this, coming to us in droves each time we make the products lightly better. and second, we recognize that there is competition, but we want to be innovating so quickly that if you are trying to copy what we are doing, which there are some doing that, you will be chasing a ghost. we will have moved onto the next product, next platform. it is my goal to have a new product on the market every year. whether we will do that on a year in and year out basis, we

will see, but that is the frantic pace of innovation we need to maintain to deliver against the promise. emily: beyond meat's ceo there ethan brown. --ebook bands more far right bans more far right agitators from its platform. we will discuss next. ♪

emily: this is "bloomberg technology." now to a story we are following -- the fight against online hate speech. facebook says it is banning far for tours and conspiracy theorists. facebook says a group of people violate its policies on hate speech and promote violence saying, "we have always banned individuals or organizations hate.romote violence and that is what led us to our

decision to remove these ccounts today." the company also banning religious leaders known for promoting anti-semitic views. walk us through facebook's decision here. people and a number of at once. >> that part is definitely a little abrupt. this has been a long time coming, and a lot of people .ould say it is about time what is interesting is they ,on't really have a super clear like, pointing to exactly why they did this today versus a month ago or six month's ago, but when it comes down to is these people have been violating facebook's terms of service for a long time and they decided to do it all at once. emily: facebook actually made an announcement of this. what do you make of that? >> there has been a lot of criticism from people.

you're kicking people often not upholding free speech or letting people stay on and say terrible things. don't you have policies that they should be violating? i think the company is trying to kind of show people that there is a line that you can cross and they are going to put their foot down at some point. emily: facebook band alex jones last year and info wars. banned his fan page and the info wars media page but they did not ban alex jones the individual, so he was able to use facebook in the way you and i might use it as a regular user. they are now saying that is down, too. emily: some folks have been saying louis farrakhan does not seem to fit into this group. >> he is not far right in the way that others who are banned are, but he was doing a lot of

the same stuff in terms of the hate speech. what you see here maybe an example of facebook trying to say this is not just targeting one side of the political spectrum, they are banning people regardless of where they fall politically so long as they are still sharing these kind of align witht do not policies. emily: twitter has also banned alex jones. are these folks that are also banned on twitter in general? >> some of them are. those happened a while back and they were a big deal at the time and you kind of -- i don't want to say forget, but you do. you kind of just forget they are no longer allowed. i wonder and i believe the same thing will happen here. emily: as i understand it, it is not just what they say on facebook. if they say something on youtube or at a rally, that could also facebook's decision. >> it puts facebook in a decision where suddenly it will

be following everybody around every day and finding out what they do in their personal life. it is interesting is they categorize these in the dangerous person category in the same category a terrorist organization might be in. if you are in a terrorist organization promoting violence off-line you could be removed from facebook in the same way that these folks are promoting violence off-line and can also be removed. emily: eu will be back a lot. good to have you with us. -- you will be back a lot. another story we are following, the growing voice of activism in silicon valley. among the things protested have been military contact, sexual and racial discrimination, working conditions. remember google employees across the world walking out in protest an androidyout to cofounder after he was credibly accused of sexual harassment and then paid a handsome sum? now employees are saying that google -- some of them -- is retaliating against them.

monday they made it known that they will not sit back in silence over alleged corporal punishment. one group in new york called google walk out for real change, tweeted a photo of employees at a sit in with faces blurred out including the #notokgoogle. tell us about this good n.d-fashioned sitting -- sit-i than a dozenmore offices around the country, google employees, in some cases t-inse hundreds, holding si at 11:00 a.m. local time, all around the theme of wanting google to continue making progress toward meeting the demands of the walkout six months ago and not retaliating against people who were involved in it or involved in instigating it. emily: let's talk about some of the more specific instances of alleged retaliation. two of the organizers of the google walked out said they were either demoted or told their

work was no longer necessary. what do we know about these cases? >> in one case, someone was told the ai ethics work they had been getting recognition elsewhere for doing was not going to be a fit anymore. in another case, someone who said they were demoted and told that they had to go on medical leave, that they did not in fact need, and after bringing in a lawyer was able to get that reversed. these are examples that were aared on internal google for -- fora and have drawn attention because they involve two of seven key people in organizing the walkout, and those are people still at the company. of other been a slew allegations that have been in somey organizers, cases shared anonymously by the

organization online, people talking about managers who treated them differently, for example, after they did not express a positive view of how they were being managed, and these activists have alleged there is a real culture of retaliation at google. 's ceo i did ask alphabet in my conversation with her about the situation. she said they have a strong policy prohibiting retaliation in the workplace. they investigate all allegations and give employees multiple ways to record and they are focused on making it the best workplace possible. we have a statement today from a google spokesperson that is very did add and google new avenue for complaints of any kind recently in response to these protests, but is google saying anything else about these specific cases or this protest in particular? google has said regarding the cases we talked about, the

specific ones involving these leaders, that there was not retaliation here, and as you said, they have said throughout that they do not retaliate. keep in mind, federal u.s. labor companies from retaliating against workers for their involvement in trying to organize around their working conditions. people often think of that as a law that is about unions, but it is actually a law that is much more broadly about work or collectiveorker action tied to all kinds of issues in the workplace, so we have seen examples of workers going to the national labor relations board, filing charges alleging that there has been some form of retaliation. another of those was filed just in the past several days, so this will be fought out in that forum as well as in the public forum where, of course, the idea of google as a retaliate or really clashes with the image google has cultivated of itself,

an image that a lot of employees historically have had of google as well. emily: meantime, union workers were spotted handing out flyers outside of facebook's offices in san francisco. what can you tell us about that? beingre is an allegation made in leaflets by organizers at facebook that these subcontracted cafeteria workers have been retaliated against for their activism. these are workers who want a union. this is one of a slew of andories for hospitality service worker unions in the bay area organizing not people who are considered employees of these tech companies, but subcontracted workers who other companies provide to those companies. people like shuttle bus drivers, cafeteria workers. some of these companies have moved toward facilitating or staying neutral or giving their to those subcontracted

workers unionizing. here is a case, though, where some of those workers are saying that that vendor company been retaliated against them. emily: it is always difficult to like how much protests this represents sentiment at the entire company and i have certainly talked to employees at both google and facebook who say he's are pretty good places to work. i'm sure you have had some of the same conversations. how do you reconcile what some of these folks are saying with the folks saying we have a pretty good? >> a place can be a great place to work and also have serious problems that need to be improved. as you said, we do not have a scientific poll. much ofple may not see a reason and certainly, when i was at the bay area google headquarters yesterday watching people go in and out of the building where the sit in was happening, there were employees walking around not being

involved in it. oft said, there was a lot people who have participated in this activity. hundreds of people each in several offices, and this is something that if you are a fast food worker or retail worker or software engineer is a big deal to be involved in collective action and protest and when people choose to do that, it usually means there are other people who have not taken that step yet who have some similar concerns and we have seen here that people who were leaders in the walkout in some cases have been leaders in other ways at google, leaders in ways that google historically has supported and people who used to have a more rosy view of the company. emily: it is certainly fascinating to us this worker activism continue to unfold and i know you will continue to cover it for us. thank you. coming up, another strong quarter for mobile game maker zynga, but can the company

sustain its growth as companies like google and apple push for their own gaming? this is bloomberg. ♪

emily: president trump met with a man looking to become taiwan's next president. white house spokeswoman sarah huckabee sanders said in a statement they did not discuss support for his campaign and taiwan. technology's main

a similar of apple iphones and told trump that if elected, he would encourage taiwanese investment in the united states. they also discussed foxconn's ever-changing wisconsin plant and he invited trump to see the plant when production lines open next year. shares of mobile game maker zynga surged to a seven-year high after the company reported first-quarter results that eat expectations. the company said sales grew to over $255 million and lifted full-year guidance by $50 due to to demonstrate -- recently acquired games. is zynga'sto discuss ceo. good to have you back. what do you think is driving the stock? >> i think we have an underlying strategy that is really working with players. we have five main franchises that you mentioned, plus "words with friends". the mobile market overall is growing rapidly and our games are benefiting from the live services orientation we have two building and growing them. emily: we have bigger players

getting more serious about gaming -- google and apple. where will that leave smaller game makers like you? >> what is important to note is that the gaming business right now is about on hundred what he billion dollars big. it is global and reaches every part of the world because mobile is in everybody's lives now. when you look at apple, amazon, google starting to come in, there has always been microsoft, amazon, -- there has always been microsoft, sony, nintendo. zynga can grow in ways that the big guys just cannot. if you look at facebook and look at how snape is starting to build out in games, you can go to lots of different platforms to reach big audiences and that is what we have been doing. we have been publishing games across a lot of different platforms, focusing on big ideas and we are doing well right now. emily: talk to us about some of the new game releases. you alluded to timing, but if you could tell us more on when we will see these new games,

please do. >> we are working with the five games we have out now, but we also just put a "game of thrones" title into test. in the future you will see "harry potter" products coming from us. we will be bringing back some of the famous titles from zynga's past and those titles will layer to see greattinue opportunity to grow and a lot of success in the future. emily: will we see these games this year? >> we will see them in the second half. emily: you also said recently that you would be open to a subscription service. tell us about that. >> i think suspicions are a great way for players to build a relationship with a game over time. you have to do basic business models -- dream e.m. games and m- premium games and freemiu with a little bit of advertising. it will probably be messy on how situations work.

platform subscriptions, franchised subscriptions, and for zynga, we have a couple of games that have the potential to put suspensions in front of players that they think they will really like. emily: you have made a string of acquisitions lately. what will we see you doing with excess cash now? buybacks, more m&a? >> i think what see from us is more growth oriented m&a. we have a buy back in place, but what we look at the overall marketing ways, there is so much opportunity in mobile right now and development teams all over the world with great franchises and new markets to break into, so from a standpoint of how we will approach zynga going forward, we would like to go that route. emily: what kind of m&a will we see? >> i think you will see is focusing on new scenes, forever veryhises, but we have a wide-open approach. there's new categories opening categories,ime, new new markets like india and others because the global marketplace for mobile is so rich and powerful right now you

can grow in lots of different ways. emily: what sort of opportunities do you see for zynga on google and apple's new platforms yet >> i think there's some underlying technology that we think will be great which is the streaming a cross-platform play. in terms of participating in their services tied to suspicions, i think you will see zynga go its own route there -- in terms of participating in their services tied to subscriptions. we will be strong growth drivers for the overall industry but not necessarily tied to apple and google. these will be industrywide. emily: there is a lot of change happening in the gaming industry. what is the gaming industry look like in, let's say, three years? >> i think you will continue to see strong double-digit growth. every day interactive entertainment reaches new highs and opens new markets. in mobile, you have high-performance smart performance. before, it was always the u.s.,

japan, and western europe, so we are excited about proliferation of these very high-performance devices. new technologies on the horizon like 5g and streaming a cross-platform plays will make better games, better distribution models, and, frankly, a better user experience, so it is not surprising to think that in five or 10 years, gaming will be even bigger. emily: good to have you back. thank you. the world's first minister for artificial intelligence. we will have a conversation with said minister about his ambitious plans to make united arab emirate the global leader in ai. this is bloomberg. ♪

emily: the united arab emirates is a country that prides itself on building big and being first and that extends to the tech sector with the uae's appointment of the first minister for artificial intelligence. behind the ministries creation is the emirates' lofty ambition to be the global leader in ai. bloomberg spoke with the minister of artificial intelligence about the nation's ai strategy and how it has impacted the economy. >> let's talk about proven businesses. tells the story of success. artificial intelligence proofies are probably the

that leadership has been working on this for years. today, these success stories are coming out. think those businesses act as an inspiration to the next generation to give it a go themselves in ai? >> definitely. we are not doing ai for the sake of ai. we doing ai because it creates great value. >> from an economic and employment aspect, there is also that notion in the back of everyone's mind, ai will reduce employment opportunities. how to you manage that? >> every single technological innovation, every single advancement has cost jobs. the job of government is to help the people that lose their jobs.

we are either of skilling people into these jobs or making sure we have -- we do not have graduates going into these jobs. >> how does your ministry play into the smart evolution? make sure all decision-making is done in an efficient manner, in a timely because a wrong decision could really impact people's lives negatively and cost billions. second, we want the government to be proactive. >> is the government prepared to be experimental with ai? >> we launched a lab the changes regulations for six months were

we are able to see -- where we are able to see the impact and if it is good, we expand that. emily: that was the minister of state for artificial .ntelligence in the uae that does it for this edition of "bloomberg technology." remember, we are livestreaming on twitter. this is bloomberg. ♪

paul: welcome to "daybreak australia." sophie: we're counting down to asia's next market open. paul: here's the top stories we're covering in the next hour. wall street falls for a second day after the fed's latest rate signal. tesla jumps after making an