emily: welcome to "bloomberg technology." chang, currently sheltering in place in san francisco. markets mixed today. tech offsetting some of the declines. the daily white house press conference, president trump saying it should start any moment now. this as officials are weighing the toll of the health crisis

with the toll it is taking on the american economy. the president tweeting that he alone has the power to reopen the economy. state's deathork toll numbers are flat, but at a horrific level according to governor cuomo. unemployment numbers somewhere between the great recession and the great depression meantime, apple and google, two tech rivals teaming up in a massive project to help deliver contact tracing to americans and people around the world. the companies would work together to notify users if they come into contact with someone who tested positive for covid-19. you just got off a briefing call with apple and google. still a lot of questions about how exactly this will work. fill in some of the blanks for

us. peoplehe big question, want to know, will i be notified if i crossed paths with somebody off the street or in a grocery store? this is something that will be developed over time. one suggestion eight on the to 10and the proximity up minutes, that would allow them to notify them. the other question, could this be used as a surveillance tool, which apple and google quickly shot down, saying that this information is not collected. emily: talk to us about the privacy and security concerns. lawmakers sending a letter to about how this data will be used. who will be able to see this data, how long will it be held on to? did they answer any of those

questions? mark: they answered a lot of the questions. timeline of 14 days came up. it seems like once a person passes through, they no longer have the coronavirus, they will be out of the system. apple said it can be shut down at any time hopefully when the pandemic ends, apple will remove the need to have this in an operating system. they emphasized that this is a opt in situation. there were questions about whether they would start requiring the technology. they said this is designed for users to opt in, not something the government can retire -- can require. they are saying the right things about privacy. apple has not let us down on the privacy front.

but google is talking the same language in terms of privacy. and is a global pandemic they are doing what they need to do for this situation. about some of us the concerns that this could be left wide open to controlling, there could be hacks, people could lie and say they tested positive for covid-19 and actually they have not. mark: that is the most part in question. apple and google have said there could be what they call a verification flow, some kind of system. they say that is part of the reason why these tools will be exclusive to public health apps. rapidlyd they will be developing. users --stion was

-- through skin of a the camera. .hey said there would be emily: what about the potential for not positives in terms of the virus testing but false positives in terms of being exposed. standing behind someone in a grocery line. notifying a bunch of people when there is not really a risk. mark: that is a very good question and it is really to be seen. i still think it is fluid. by june or july, it could be completely different.

ofterms of the question false positives, i think that is something we will have to deal with. they say that the bluetooth technology they are using is precise. they said this would be very specific just a few feet away for a specific period of time. they are talking about two people on a park bench. there is probably the chance that one of the people would transfer coronavirus. less likely if they are walking 10 feet away in a grocery store. emily: thank you so much. we will continue to look for updates as apple and google continue to work together on this technology. that would work

for them. wither today, i sat down meg whitman, the ceo of max thehin -- the ceo of quibi, short-term mobile content app. they did not expect to launch in the middle of a pandemic but the numbers are beating their expectations. meg: that is roughly in the ballpark over time of breakeven. it depends on the amount of watching, the advertising revenue, the split between advertising supported subscribers. we are very focused on profitability. revenues need to be greater than costs. clear businessry plan. we have got a long ways to go.

emily: let's talk about the money. it is free for the first 90 days. how many do you expect will start paying for that? meg: we don't know because this is such an unusual time. of covid, we wanted to give people a 90 day free trial if you sign up by the end of april. those folks will not have to pay until july. but if you signed up may 1, you will have a two week free trial. it is hard to know. you just do not quite now. there are industry benchmarks, but who knows? emily: 1.7 million downloads so far. you will get a lot of data on people watching. how do you plan to use that data? out a privacy

policy early. i want us to be on the right side of history here. remarket anyl and information, just look at it on an anonymous basis. we look at, what are the ?econd's, who is watching what we also know there are shows that have more of a niche audience. emily: what position are you in as far as content? we are looking at broadcast networks airing the same movie over and over again. if we knew we had if we knew wa lot of content, we also had anticipated that there would be a writers strike in a.

for unscripted and documentaries, we are good through november. all our daily essentials have to be shot pretty much every day with the exception of some of the talkshows. whether, sports, gaming news, celebrity news, all shot daily from people's homes. on march 14 that this was not going to work so we had literally two weeks to get everybody organized. our partners have been incredible. i have my hats off to your industry. how you have pivoted this fast is remarkable. emily: more and more companies having huge layoffs. furloughing many employees. as somebody who ran hp, ran

ebay, how much more of that do you think we will see? meg: unfortunately, i think we will see more. the more this goes on, the more on ourthis will have economy. unfortunately for us, this is a ramp-up phase for us. our employee count is factored into our model. as long as we remain on track, i think we feel really good about keeping everyone working. ceo meg whitman. after the break, how the economy is affecting her personal investing strategy. and, the white house briefing is expected to start. we will be there when it begins. this is bloomberg. ♪

emily: back to my conversation with quibi ceo meg whitman. heralked to her about investment strategy. she has been investing on the side in various startups. i have lived through 9/11, the 2008 recession. this always comes back. when you are an investor, you just have to hang in there and remain calm. professional sports are sidelines.

e-sports, completely sidelined. a broadcourse, portfolio. you just hunker down and say, this will ultimately pass. emily: do you think things will go back to normal? how do you figure out, or are you trying to figure out what changes, what stays the same, what is the new normal? meg: it is hard to predict. i think the economy comes back much more rapidly than 2008. up,ink, when things open v-shapedsee a recovery. it may take a while. we are shopping only

online but spending less money overall. talk about the challenge ahead theebay, amazon, and for e-commerce business in general. meg: e-commerce looks like a pretty good place to be right now. amazon announced they were new workers or00 some enormous number. e-commerce is the place to be right now. back,k, when this comes it will probably revert not all the way back but certainly people will shop again in retail. emily: how do you think the entertainment industry looks different after this? do you think viewing habits will change or do you think that is something that bounces back as well? meg: i think people will

ultimately go back to movie theaters. we talked about this, you would watch quibi on your in between moments, at a doctor's office. on a commute. watchestion, will people at different in between moments at home? users are basically watching pre-much consistently between about 7:00 in the morning and 8:00 at night. in between interviews, in between a zoom call, and between wrangling the kids come in between cleaning up and doing everything you need to do. people are having a shorter amount of time with which to consume content. that will probably stay with us and accelerate. accelerateple will their watching a video on mobile devices as well. six minutes a day, when you

watch video on your phone, now 60 minutes away -- 60 minutes per day. i think that will continue. emily: is the plan always mobile only? what if i want to get amazing, well shot stuff on my television set? meg: this is something we thought we would bring to market in six months. we never dreamed we would launch during a pandemic. i was just talking to my engineers about how fast we can do testing to the tv set. it is quite an engineering lift. the engineers are trying to think about, how can we do this on an accelerated timescale? it is for the moment and we have had a number of requests. they: coming up, talking to ceo of redfin. imagine showing or touring a

home in the midst of coronavirus. we will also take you to that white house press briefing scheduled to start any moment now. as soon as that begins, we will be there. this is bloomberg. ♪

emily: we are supposed to be heading into boom time for the housing market. instead, the number of houses being pulled from the market is doubling according to redfin. earlier, i spoke to the redfin ceo about the future of the housing market and how they are handling the crisis amid layoffs

and furloughs. of delistedate properties has doubled. new listings is down 44%. anyone who wanted to sell a house has left the market. the only ones who remain are the ones who have to sell a house. i used to feel that real estate was not an essential service, that people are just looking at the houses. now, the folks we are talking to have lost their jobs, they are in a jam, and we are trying to help them out. emily: how long do you estimate thousand market will be shut down -- the housing market will be shut down? glenn: i think everyone is trying to guess. the housing market is not completely shut down. it is down about 50%. that is the decline in demand.

the opportunists are gone and the people who have to move remain. emily: it is difficult to even do a home tour because of a quarantine. you might have some technology to get around that. but, does it turn it into a buyers market, or is it nobody's market? glenn: i think it is probably a fire' -- probably a buyer's market. the question is, can they even see the place? redfin has had a video chat touring option. it was such a dismal failure. would0.5% of homebuyers look at homes that way. now it is about 33%. the numbers are shooting through the roof. we see these new contingencies that say, i am going to buy your house on one contingency, that i

walk through it after you except my offer. the first walk-through is done after people agree to terms. emily: you are cutting some employees, and i am sure these have been tough decisions. employees, 41% going on furlough. cut much deeper than our demand because we wanted to offer security to the people who are still here. everybody at redfin is fairly busy now. our goal is to bring all the others back. everyone that went on furlough is supposed to come back september 1. we are hoping to bring them back earlier. we are working as hard as we can to do that. i think the federal employment insurance that just past a few weeks ago made it hard to hold

onto people. about three quarters of our workforce will earn more than we can pay them. it has been a rough month for consumers, every business, but i think housing demand will be back. emily: do you think the housing market will be fundamentally changed after this? glenn: we have been telling our employees that the future have arrived early and now the investments we have made favor redfin. it is about the housing market more fundamentally. there are just structural reasons that i think will go back to a sellers market. the u.s. has been so screwed up in its ability to build houses. there is nimbyism, zoning laws. people waiting 5, 6 years to be able to afford a place.

if housing prices come down a bit over the next six months, it will not be the worst thing to come out of this pandemic. emily: what does it mean for pricing? glenn: prices are definitely coming down. 401(k)'s have been smoked. the stock market has had at least a minor correction. then you have all this unemployment, which is forcing inventory onto the market at least temporarily. i have to believe that home prices are coming down. the median list price is down about 5%. people are asking for less and bidding wars are obviously less common. kelman, the ceo of redfin. coming up, we will talk about amazon's hiring spree as delivery numbers skyrocket. we will also take you to the white house as soon as the press conference begins. ♪

emily: welcome back. i'm emily chang. amazon hiring another 75,000 workers as demand for products being sent to homes continues to skyrocket. this in addition to 100,000 workers amazon said it would hire a couple of weeks ago. i want to bring in matt day who covers amazon from seattle. what's interesting about these workers on the folks applying for these jobs, these are all kinds of workers, not your typical warehouse workers. some wouldlost jobs, normally have white collar jobs as well as blue-collar jobs.

talk to us about who these people are and what they are doing. matt: that's right. small business owners, those who have been in the warehouses, it runs the gamut. not a lot of companies could even hire 100,000 people in a few weeks. but they are certainly turning on the tap. 175,000 over eight weeks would be pretty unprecedented for them. it definitely is in contrast with some of the seasonal hiring they are doing. emily: meantime, the company continues to face controversy. it is on the front page of newspapers, it is fodder for comedy show hosts, just how amazon is treating its workers. there has been a lot of worker unrest. the company is fighting safety issues around the country and around the world. some of the workers testing positive, warehouse is shut down. this is kind of a p r nightmare -- pr nightmare for amazon where

you would think this would be amazon's time to shine given it is one of the only ways to get the stuff we need. amazon just launched a new round of commercials with workers wearing masks, this time. the last round of commercials did not get so much positive feedback because the workers in those commercials were not wearing masks. now they are. i'm still seeing comments on social media that this is amazon pretending to care about its workers. talk to us about the p.r. nightmare that amazon is facing right now. matt: i think some of this snuck up on amazon. they are not used to talking a lot about their warehouse workers. we have seen negative stories for years and years about conditions in their buildings. but as their own worker started getting sick, there were not prepared for the degree of backlash and the degree of fear among their own employees. folks have been calling us, other news outlets to raise concerns that may be in a different time, they would have

kept quiet about. this definitely stuck up -- snuck up on amazon and you certainly saw the p.r. machine ramp up. the daily blog is outlining safety measures as they roll out with federal and w.h.o. guidance. jeff bezos even went to visit one of these things as it instagram ready moment. they seem to be realizing to avoid some of these negative headlines, they have to put their own foot forward. emily: amazon is launching new safety measures, cleaning, deep cleaning warehouses, temperature checks. they are paying workers to dollars an hour more temporarily. is any of this, any of what amazon has been doing more recently quell some of the worker concerns? matt: it is starting to check those boxes. masks started to arrive last week. temperature checks was something in areas dealing with covid-19

outbreaks, health authorities have been recommending for more than a month now. amazon has finally caught up. i think they are started to catch up to some of the worker complaints. you have seen across industry, workers on the front line and being asked to come to work. grocery clerks, postal workers, ups drivers. there's always going to be that fear when you are out there going about your day to day routine during a pandemic. i suspect workers will always say their employer could always do more to keep them safe. emily: matt day. we will be back with you as the situation continues to develop. thanks for that update. meantime, video streaming is soaring and that is true, perhaps even more so on youtube where traffic is up 75%. the chief product officer and i sat down at the end of last week to talk about activity on the platform, with the company is doing to fight misinformation. take a listen to what he had to

say. >> there has been an increase in traffic, as you can imagine. there have been a couple of things that are interesting to note. youtube in particular has had historically sort of slightly different patterns on the weekdays versus weekends. weekends, you can imagine our consumption is much more spread out during the day. weekdays concentrates after work hours. we are seeing much more distributed content disruption -- consumption. overall usage is up, and it is up in a couple of particular areas to note. one of the biggest, and a big area of focus of mine and our team is around authoritative content. peopleke yourself, trying to consume as much information around this crisis, of course, medically related, but also general news. economic news, etc.

it is top of mind for everybody. we have seen over recent weeks that kind of content on our platform growth in terms of consumption 75% year on year. substantial increase in people consuming hard news on youtube. lots of it related to this crisis. emily: what changes have you made to adjust for that spike in traffic internally and in terms of policy as well? >> sure. i'll put that in two buckets. the first is obviously our platform is global. this crisis is a global crisis unfortunately. we want to make sure we are delivering the content to all of our users across the world. the good news is our systems and everything we have put in place of the course of the last several years has been able to scale. one of the things we have done to -- in working with governments and other people, we

want to make sure we are delivering our services as we have defaulted. of course, users can choose higher definitions if they want to but that is the default setting we have done globally. that is in place and so the next few weeks, 30 days. we will continue to visit that. probably the biggest area of focus for us has been building on what has been a really big effort for us over the course of the last two to three years, which is this recognition of our platform as a global platform in terms of our responsibility to all of our users, content creators, etc. that is around, particular around this crisis. looking for information, making sure we are delivering very high quality, relevant, credible information. again, stuff that is being produced by news sources, but also for medical outlets. a lot of what you have seen on youtube, and you may have seen this in your own experience,

when people are searching for things like coronavirus or covid-19, we are delivering authoritatively ranked results. coming from news, medical outfits. we have made a number of changes to our homepage. the billions of users using youtube open up the app for the first time, there was a covid-19 news shelf across the top. we will also serve content directly from organizations, like the world health organization, cdc, and other international health authorities app at theworld latest and most credible information around this crisis. have: videos from doctors been getting a ton of views on youtube and i am wondering can your systems actually determine is providing accurate information or not? like medically accurate advice. ofl: we have this notion identifying content that comes

from what we deem to be an authoritative source on a topic. i mentioned this in context of news publications, of course. forave a scoring mechanism channels that we deem to be authoritative in nature, that have a track record of delivering content that is credible, relevant, etc. for medical information in particular -- and the way we determined that is we use a number of signals. evaluators spread out across the world who basically give us their opinions on these videos based upon kind of this published a set of guidelines we have. we use all of those signals, including these opinions, to determine a score for a channel on whether it is authoritative or not. we do the same thing for medically oriented channels. mike is a big channel, dr. on our platform. we will use the

same methodology but in terms of those evaluating the content, we will work medically with doctors to determine if information that might seem authoritative in nature, but is inaccurate from a medical standpoint. we will incorporate their expertise into determining whether that channel is authoritative in nature. only if it meets that bar will we rank it highly in our search results or recommend it to our users when they are watching content. emily: state officials have warned hospitals about the hasht ag film your hospital social media campaign and efforts to suggest the virus is a hoax. many videos with that hashtag on youtube. how are you responding to this? neal: from the beginning of this crisis and we have put in place of the last couple of years, we have asked lissa policies around

misinformation around medical. any information that might be discouraging people from seeking timely medical care, that might be pushing people towards care that might be harmful -- it is a broad rubric we apply to strike videos from our platform. in the case of covid-19, we have extended that to include things like videos that might encourage people to flout stay-at-home orders that are coming from their county or state government. also, spreading misinformation around this crisis, like this crisis is not as big as it seems, those types of things. recently, we updated our guidelines around a particular conspiracy may have heard of around 5g being connected to covid-19. we are remaining as vigilant as possible. we are removing content that is in clear policy violation. contentctively demoting

that might not be a policy violation, sort of brushes up against it. mohan, chief product officer at youtube. coming up, how companies can secure and monitor their remote workforce in the time of a pandemic. we will talk to the ceo of splunk next. this is bloomberg. ♪

emily: with so many employees working from home, splunk, a company with its data to everything platform, it shot to make this transition easier for companies and their employees. joining me is the ceo of splunk, doug merritt. talk to me a little bit about

how your technology works and how it is being used right now. and used differently than it normally is used with so many folks walking -- working from home. doug: absolutely. we're a big data platform. our motto is we aim to bring data to every question, decision and action. particularly in this timeframe, we believe data can save lives. we gather data from a huge array of sources and find ways to make sense of it. right now is a simple example for anyone out there, we have a bunch of public facing dashboards that help -- there's over one how to 20,000 users interacting with this. we are working with private and public organizations who touch every angle of this crisis to help with very technical things like ensuring the virtual workers can go virtual and they have secure connections when they go virtual, to more foundational work with medical

suppliers, hospital systems, logistics and transportation companies, manufacturers. all the federal, state and local agencies that surround these so that they can get visibility on the different aspects of not just what their employees are doing safely in a virtual environment or safely in a central work environment, but that they can get that insight that data brings that will help drive the right actions to save lives in this crazy time we are in right now. emily: are you saying that all this data was there and the u.s. government did not act on it or did not know how to find it or analyze it? doug: i think there are two things going on simultaneously. when you look at the huge array of organizations that would be involved in something like a pandemic even at the federal level, there's 10, 15 different distinct organizations that would touch a pandemic. one aspect is, are they

effective in driving a full set of data for their own unique needs? health and human services, cdc, fda, fema. the second piece -- they have some degree of digitization happening but not always as much as they would want to or need to. the second even more thorny issue is those are isolated which is the case with so many of the splunk use cases. how do you do an effective job of synthesizing the data, correlating and finding patterns across that data? because a machine is only as strong as of its weakest links. cana simple example, if we just imagine a hospital that through heroic effort has actually got adequate doctors, nurses, technicians, beds, speculators -- everything that they need but they are missing cotton swabs, all of a sudden they are in a difficult situation. it really comes back to huge amounts of data available.

a lot of it misunderstood. but if you can surface it effectively, it saves lives and helps organizations with leadership. emily: meantime come even though your technology might be particularly useful right now, we have an economy in recession right now. we are seeing layoffs happening across the board. is it impacting demand for your products? are you having trouble making new sales? doug: i think one of the things we are really seeing right now is a big difference between what a digitized set of organizations can do, in this case, the private sector versus less digitized sector, in this case, the public sector that is still going through a lot of machinations to become digitized. when we look at someone like amazon and walmart and costco, these are examples of companies that have emerged as the essential and critical services. amazon and walmart alone are trying to ramp up 100,000 new

theoyees, nevermind entire catalog. their data first digital businesses which is in contrast a lot of organizations that are not. all three of those are customers. we have 20,000 customers. we are seeing very strong engagement with those customers because their volume of data and the visibility they need is only going up which splunk helps them with. we have even seen some brand-new customers. a couple of states have come online in the past three or four weeks. emily: we will have to leave it there. the president has just now. let's listen in. pres. trump: across our great south who have endured deadly tornadoes and severe weather. texas, louisiana, mississippi, alabama, florida, georgia, tennessee and south carolina. my administration will do everything possible to help those communities get back on their feet.

we are speaking with the governors and representatives. fema is already on its way. as soon as we heard the word, i said get out there. fema is there. another great job fema does. it is always something very special. we just want to say warmest condolences and we are with you all the way. a tough deal. that was a bad, bad level five -- as bad is gets. a bad grouping of tornadoes. something that is incredible. horrible, destructive power. america is continuing to make critical progress in our war against the virus. over the weekend, the number of daily new infections remained flat. nationwide, flat. hospitalizations are slowing in hotspots like new york, new jersey, michigan and louisiana. this is clear evidence that our aggressive strategy to combat the virus is working and that

americans are following the guidelines. that has been incredible what they've done. you looked at the charts. nd the modelse ad from early on predictions were people if they0 did well, they were going t to unfortunately perish. we will be hopefully way below that number so that will be a sign of people doing things right, but it is still a horrible thing, all over the world. 184 countries. this is all a tribute to our wonderful health care advisors and experts who have been with us right from the beginning. we appreciate it so much. in fact, dr. fauci is here. maybe i could ask tony to say a few words before we go any further. please. dr. fauci: thank you. just a couple of things and i

want to make a comment about something that happened yesterday. you will hear from dr. birx soon about the numbers we have been talking about, how things are starting to balance off. as we go by each day, i think we are going to see -- i never like to get ahead of myself or of dr. birx, but it looks like even though we've had a really bad week last week -- remember when i was speaking to you before, i was saying this is a really bad week. they're still going to be a lot of death, but we have started to see in areas now that kind of flattening, particularly in a place that was a hotspot like new york. the second thing is that i had a really very productive conversation with the congressional black caucus this morning for about one hour. they really wanted to know what exactly are we going to be doing in the immediate as well as the long-range about the health disparities and discrepancies in infection and outcome for

minorities in general, but specifically african-americans. i made it very clear to them that what we have to do is focus on getting the resources where the vulnerable are and to be able to get testing done, to be able to get the appropriate identification where proper and appropriate to isolate and contact trace if we get. but also to help mitigate in a community that is suffering and much more just proportionately. i wanted to make another point -- i had an interview yesterday that i was asked a hypothetical question. and hypothetical questions sometimes can get you into some difficulty because it's what would have or could have. the nature of the hypothetical question was if in fact we mitigated earlier, could lives have been saved? my answer to my question as i always do, and i am doing right now honestly, yes.

obviously, mitigation helps. i have been up here many times telling you that mitigation works. if mitigation works in you initiate it earlier, you will probably save more lives. youou initiated later, probably would have lost more lives. you initiate it at a certain time. that was taken as a way that maybe somehow something was at fault here. let me tell you from my experience, and i can only speak from my own experience, is that we have been talking before any meetings that we have about the pros and the cons, the effectiveness or not of strong mitigation. discussions were going on mostly among the medical people about what that would mean. the first and only time that dr. birx and i went in and formally made a recommendation to the president to actually have a "shutdown" in the sense -- but

to really have strong mitigation, we discussed it. obviously, there would be concerned by some. in fact, that might have some negative consequences. nonetheless, the president listened to the recommendations and went to the mitigation. the next, second time i went with dr. birx into the president and said 15 days are not enough, we need to go 30 days. obviously, there were people who had a problem with that because of the potential secondary effects. nonetheless, at that time, the president when with the health recommendation. we extended it another 30 days. i can only tell you what i know and what my recommendations were but clearly as happens all the time, there were interpretations of that response to a hypothetical question. i think it would be nice for me to clarify.

you, i don'twith remember. i can tell you the first and only time we should do mitigation strongly, the response was yes, we will do it. >> what did he do? the travel restrictions? dr. fauci: the travel restrictions were separate. that was whether we wanted to go into a mitigation stage. emily: dr. anthony fauci there clarifying some comments he made about 24 hours ago about mitigation, saying that, sure, hypothetically if mitigation efforts had been implement an earlier, lives could have been saved but it was purely a hypothetical question. touching on that controversy there. we will continue to listen into this press conference. if you want to listen to it, to into live on bloomberg. dr. fauci saying the president

did listen to his recommendations on mitigation. we will be right back with more of bloomberg television after this quick break. ♪ awesome internet.

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♪ shery: good evening from bloomberg world headquarters. i'm shery ahn in new york. haidi: i'm haidi stroud-watts in sydney. welcome to daybreak australia. here are your top stories. u.s. states set up a potential clash with president trump over the eventual reopening of the economy. they say they are guided by science, he says he alone has the authority. bank earnings season. the coronavirus will play