ask about saving up to $1500 on your installation. ♪ emily: welcome to "bloomberg technology." i'm emily chang. stocks climbed with the resurgence of covid-19 across the country, falling to the lows levels in waves. facebook shares dropping to the lowest point since march as more and more advertisers boycott the service. florida, making additional closures today.

apple have shut a number of stores across the country. microsoft shutting all of its retail stores today. joining us break it down is abigail doolittle who has been following all of the action by a rough day for stocks. this virus is really starting to weigh on investors. what do you see? abigail: stocks are lower in the selling pressure never relented. we have stocks responding to data as it comes out with the big drop on the data from the u.s. the nasdaq and s&p down. confirming the risk off, the fact that haven bonds rallied once again. we will bring welcome to the picture. investors want out of risk. this week, they are not tiptoeing, they are running out of these risk assets on fears , perhapsaps the virus

this is the first wave. that it could hurt the u.s. economy. emily: you have been talking about havens rising as stocks have been down. what would you point out? abigail: it feels as though this week is new in terms of this risk off. and wednesday, we had a big down day and a big down day today. it is lining up on the negative info with the virus. week of june 12 is when we had the yen rallying, bonds rallying, stocks down any oil starting a downtrend. it from across asset class standpoint, this may make the case we could be moving toward a period of risk-off and we continue to see stocks and oil down next week while the havens are up, it could make the point that stocks will finally do

something that they have done in every other bears period, which is test below. it happened in the 1930's another time periods as well. are returningars to the u.s. emily: facebook shares planting as more and more advertisers pull out of the platform, and join us on going boycott, including unilever, procter & gamble, initiating a comprehensive review of the platform that it advertises on par not a good day for facebook shares. abigail: to put the selloff into perspective, this is the worst day since march 16. going back to that horrible bear market selling pressure back in march is the kind of selling pressure we saw in facebook, down 9.5%. you know i like charts. today, it is ugly. going near record highs to plunging below its 50 day moving average. that is a fancy way of saying

the floor fell out. buyers disappeared and there are reasons to think the shares of facebook at continue to plunge on the fears that may be other big advertisers would pull away, if this could happen with facebook, it could set off a negative round with other bank stocks. this would be an additional pressure relative, in addition to the virus that could really be a negative for the markets. next week will be an interesting one very -- it will be an interesting one. emily: all right. abigail, thank you so much for that update. we will be watching a facebook shares continue to stay under pressure is more advertisers joined this boycott, which includes a boycott of instagram. patagonia,erizon, just some of the companies the

stop hate for pay program. the adl is a number of civil rights groups unhappy without facebook and moderating its contact and what they say is a long history of allowing posts that encourage voter suppression. joining us is the ceo of the anti-defamation league, jonathan greenback. jonathan, thank you so much. talk to us about what you're hearing from advertisers at this moment, as your campaign is picking up steam. jonathan: sure. stop paper profit is a long time advertising campaign organized by adl, the naacp, color of change, and a bunch of other groups specifically to tackle the problem of hate online gaming we focused on facebook because they are the largest social network in the world, and the biggest advertising platform on the planet. , our phoneshis call are been ringing off the hook

with advertisers. -- mentioned, verizon or verizon, unilever, north face, honda joined this afternoon, birch box join this afternoon, and i can tell you more are coming. advertisers, who have seen their own ads published against hateful, horrible content on facebook, racist, anti-semitic poison, they are finally saying enough. think what is it that you facebook is doing wrong? what are the real -- there are a number of issues. what are the main issues in your mind? jonathan: for years, we and others have called on facebook to change, and they haven't. they have really prioritized profits and reach over people and the safety of their users. there are several very specific things we want them to do. first, you want them to be accountable.

they should be providing audits and refunds to advertisers whose --tent was shown to be near that violated terms of service. they should be regulated. very usefulng isn't when the author has a vested interest in what they are sharing. we want them to focus on the safety of their users. remove public and private groups it -- private groups that focus on racism and violent conspiracies. when people are harassed on facebook, there should be a mechanism to give them the support that they need, like every other business does. but this is indeed about accountability. it is about transparency and it is about leadership. we want facebook to establish at a leadership level, a civil-rights infrastructure that would evaluate their products and policies were

discrimination, violence, and hate. it isn't too much -- for a company that earned $70 billion in revenue to invest a little people,making sure all regardless of how they pray or what they look like or where they are from, everyone should be fairly protected when they use the platform. emily: speaking of leadership, mark zuckerberg did hold a town hall today, talking about how they are responding. they are adding new features and theire directing users to center. they will talk about voting. they say they will prohibit ads that pit anyone of a certain race is dangerous and mark zuckerberg sounded fairly upbeat to their ability to address the controversy. take a listen to part what he had to say. mark: i am optimistic we will deliver progress on these challenges. we will make progress on public

health. we will make progress on racial justice, and i think we will do that while maintaining our democratic traditions around free expression and voting. i'm committed to making sure that facebook is a force for good on this journey. reaction,t is your jonathan, to that end the changes facebook is making? jonathan: look. markert -- mark zuckerberg was part of the small number changes. to say the are going to apply their hate policy to the ads while not address hate more broadly. i just don't get it. i think mark doesn't really understand the problem. the problem is not verizon and salesforce are pushing hateful ads. the problem is that there ads

are subsidizing hateful content. be harder to spread that on the day of the election, that is good, but does any voter misinformation will run rampant the rest of the time? the idea that posts the call for violence will still be allowed if it is "newsworthy,", but none of it will be verified? i don't think it makes a dent in the problem. it tells me we still have a long way to go, but make no mistake, what you heard from mark prichard yesterday and what you have heard from eileen fisher, many -- honda, unilever, so many companies are saying, we don't want to advertise on a platform that undermines our values, and that is the real story here, until facebook will take meaningful steps and make real changes that reflect the shared values, not just of those brands, but i think of the general public in

our society, i don't think we will be in the right place. you build a coalition around this and you got the naacp, color of change on board, along with various other groups representing underrepresented minorities. why does this issue matter to so many different kinds of people, not just african-americans, not just immigrants? jonathan: well, look, i mean this is an issue that affects all of us. we are living in a time where hate crimes have been indisputably on the rise. you can see the fbi data. we are living in a time where , taxax on people, latino on people who are jewish, tax on people who are -- these are all up. last year, the adl tract more anti-semitic incidents that we have seen in our 40 year history of doing that work. so, the reason why so many groups are concerned is because immigrants are indeed under siege, because our president

can't seem to refer to the covid-19 as anything other than the china virus or the chinese flew or even more offensive things when asian americans are being harassed in the streets by people. and again, the issues with george floyd really laid bare, watching him die on the street, laid bare and we have this public reckoning on issues of systemic racism, which have always been there, and yet at working with the companies, we are monitoring these issues, and we saw white nationalists literally organizing them on facebook, to disrupt those protests. we saw extremists coordinating their efforts to spread conspiracy theories and show up and try to undermine and disrupt these peaceful gatherings. i'm sorry. i don't think any traditional media would allow that. i don't think any normal company would allow that. and it is long overdue for

facebook to say, we will not allow that. emily: a social crisis in the midst of a held an economic crisis. jonathan greenblatt, thank you so much for joining us. up, the sun belt state another states across the south pulling back on the reopening of their economies as covid-19 surges across the country. we will look at how children are being impacted. boston'save the ceo of children's hospital, next. this is point guard. ♪

♪ cases of covid-19 topping 9.6 million around the world in the u.s. without brakes learn up in texas, florida, and california. texas and florida halted drinking at bars and as the pandemic worsens for some, it is getting better another states. new jersey has seen over 12,000 deaths and is in the midst of slowly opening up. today, the governor said it will -- the governor announced school reopened in the fall, but

children not fearing the worst of the infected, but there are other ways they are being impacted. joining us as sandra fenwick, the ceo of boston children's hospital, which is the number one pediatric hospital according to u.s. news & world report. thank you for joining us. seriouslyren't as impacted by the virus from a health perspective. what have the cases of covid-19 among children looked like to you? what have you been seeing at your hospital? sandra: we have seen a number of children come through, both with the virus would also with this , the multisystem inflammatory syndrome in children. we have seen 150 children with positive covid. most of them have had a relatively mild form of the disease, and several of them have had more need for intensive care, but it has been mostly told with underlying disease. the more sick children are the

ones with this new syndrome, and we have seen just over 30 of them in the last couple of weeks. that has been our experience, but we have been preparing for the same kinds of situations that even all of the adults have had to deal with as well. emily: so that counters the point some have tried to make the children are immune to this virus. how concerned should be be about our children out there? sandra: well, children have been testing positive. many of them have tested positive and are not symptomatic. so the question is whether they are also transmitters of the disease, even though they are not showing symptoms? that is something we are still attempting to study and truly understand why this virus, unlike other flus have not necessarily have had the same degree of impact on children, and that is still a bit of a mystery, and therefore, a lot of

research is going into that. [no audio] tested positive and over 70 hospitals. because we have had few cases in each hospital, we are going to have to spread the entech of -- the end take of these patients -- we are going to have to spread the intake of these patients throughout our hospitals. they are going to be trying to understand all the questions. why are children less impacted by the virus? which children are more impacted? what is this new syndrome? why is it showing up weeks after the child has been exposed to covid? what is the immune response that

children have that perhaps adults do not have? who is protected? what happens to a child when they have an underlying, either immune or other chronic disease? there are many, many, many questions that will be apart of this study. got schoolsime, you closed, camps not happening. i imagine this is having a mental and emotional impact on children as well, even if they are not getting sacked. of itu seeing cases kids' mental and emotional health? sandra: you are right. children have not been in their normal routines, whether in childcare care centers, in schools. they have been socially-distanced. they had been impacted by stress in the home, where parents are either at home and trying to

work, or they have lost jobs. , particularlydren in the inner-city, who are hungry because many of them were getting their meals at school, and they are not getting them at school. there are parents who are parents were struggling to meet their red and we will see an increase in the amount of homelessness. all of these issues will have a significant impact on the children's' mental and behavioral health. this is another thing we need to begin to understand much more deeply to really study our children impacted more behaviorally and be if they have even underlying mental health conditions, and if so, how do we prepare the child care centers, the schools, families, physicians to both recognize and how to handle it when the children start coming back into the settings? emily: so, as a parent, wondering if schools are going

to reopen, and wondering if they do reopened, should i send my children, given there are health concerns, and the uncertainties transmit children will the virus, and all of these emotional issues around my child losing several months of their education. do you think schools should reopen or not? sandra: absolutely. first and foremost, they need the social interaction. they need routine. they are hungry for wanting to be in those kinds of settings. both for the learning. some of them are really missing that. and for the play that occurs, the interactions, the potential sports, just the connections they are making. they missed their teachers. we have a daycare center at children's, and we just opened this week, and they have been trying to do things remotely with remote learning and virtual

learning, and it has been very difficult. how do you do playtime with a bunch of three-year-olds? how do you do will learning with children in elementary school? so we believe it is very important to try to find a way to safely bring these children back. clearly, we will have to figure out ways to think about protective personal equipment with masks and intense cleaning, social-distancing, not allowing the kids that much touching interaction, but we believe opening those are going to be good for family life, for parents to be able to go back to work when they need to as well is the children. resurgencegiven the of cases across the country, how concerned are you about that, and what is the hospital preparing for? ,andra: we have learned a lot obviously, from this first round, more than we ever really wanted to, i think, but we know

now how to test. we know how to treat. we have set up so many different ins of bringing our patients safely. how to keep our staff say. there are many things that will probably be in place now in some respects forever. if we can get through this round. the real concern is the flu season. we are going to double down and really encourage -- this is something i want to say over and over again -- we need to have everyone get their flu shots come this fall because the layering on of covid and flew will be really problematic. the flu in is far more dangerous than covid. i would just recommend that everyone think about this carefully, and in short you're still going to hospitals when we need to, getting preventive

care, taking medication, and making sure that if symptoms increase, that people get health care. emily: point taken. thank you so much, the ceo of boston children's hospital, sandra fenwick. thank you for joining us. i want to get to breaking news. apple is being further scrutinized and a probe by the u.s. department of justice. mark joins us on the phone. what do we know? mark: so, what we know is that apple has been one of the main tech players under the u.s. antitrust investigation by the department of justice for a year now. haveow that app developers been continuing to meet the justice department as of last week, at least two developers we spoke to met with the doj. asking has been questions specifically about the apps store rules related to app

subscriptions and purchases. we know that is one of their current focused areas and inquiry about apple is related to the apps store. we also now that the apple inquiry is in a much earlier stage than the google inquiry. andnow that both the doj that app developers have reached out to each other. it is not necessarily that the doj starting with the questions. sometimes the app developers are coming to them and sometimes it is vice versa. the majority of the resources from the doj antitrust division are focused on google, and it is unclear if there will be a formal case brought against apple. they are still in the investigation stage. emily: ok. mark gurman with that quick update. thank you so much, mark. we will continue to follow that story, just out from our government. he is leading the largest black lead venture capital fund in the world. we will hear from the co-founder

. this is bloomberg. ♪

emily: welcome back to bloomberg technology. i'm emily chang. the world's largest black lead venture capital fund just got bigger. base10 partners says today it has raised $250 million in a second fund to fund startups and other initiatives aimed at diversifying predominantly white tech industry. i spoke to the cofounder of base10 partners about that and his efforts to fight racial injustice. adeyemi: we are very thankful for the amount of confidence that has been put in us by our founders. my partner and i and our entire team, we feel like we are

at a special time because we are butrity led organization, we are minority focused. we just happen to believe investing in problems means investing in people that represent the diversity of society. and we want to do more on that and extent until we have responsibility. emily: we have been seeing obviously incredible momentum behind the black lives matter movement. i wonder how you have been experiencing that and whether it is impacting your strategy in terms of where to put this money. adeyemi: yeah, we are very happy to see the attraction that movement is having. we think that investing in the diversity is good business. we have always thought so. he set up base10 wit problems for the 99%. we believe the founder should reflect racial diversity.

what we think now, technology has a collective response ability to actually make that happen. to remove the biases we all naturally have. our commitment as an organization, both to invest more time and that, to find those founders that are out there. if they are being overlooked, that is doing better business because you find them before everyone else. beyond that as an organization, we announced a monetary movement to support movements. we think if not this time, when? it is the right time. emily: what is it like raising money in silicon valley as a black investor? had run into instances of unintended racism? adeyemi: i would say that my experience has been overwhelmingly positive. we are a very different and

diverse team. i'm hispanic. my partner is white and armenian. our partner is romanian. chris is a very diverse background, etc. i think what the community feedback has been is actually positive. by being a diverse team, we might be able to empathize with a larger array of funder backgrounds. we think it is good to invest. by being a little bit of the outsider, it's may be easier to find that underdog and empathize with them. emily: it is not necessarily that experience for black entrepreneurs. we spoke with the ceo, will hayes, who told us investors, when they walk into the room they expect him to be white. how do we change that? adeyemi: as a former entrepreneur, i have also experienced that. i've experienced many different instances of that. i know that most of them come

from a good place. what we believe it is very important for all of us to have an open conversation and realize we all have -- we're literally programmed with them. we believe if something great can come out of this time, it is actually the ability to put that out there and be like, hey, we are all biased. we might be undervaluing certain people just by the fact that .eople look like the current how do we change that? we are not investing in those people correctly. emily: you are also an immigrant. this week, the president suspended guest worker visas. you've got the immigrant community feeling very alienated right now. what is your reaction to that? not just that, but as an

investor? adeyemi: we believe as a team that it is a human tragedy and we are all personally touched by a number of people that are in a difficult position because of that position. but moreover, as a country, if there was ever a time to work together on how automation and technology can help us move forward when a lot of the things that have held us together are actually distancing us is now. we need all the help we can get from everywhere in the world to learn together. restricting that is just hurtful for society, for the economy, for everyone. emily: let's talk about where you plan on putting this money to work. we are in the middle of a pandemic. an economic crisis, a social crisis. where do you see the biggest opportunity to make returns on new technology? are automation for

the real economy. they need automation to move forward. real estate, construction, food logistics, retail, etc. andas been really humbling very fulfilling during the pandemic to see some of our portfolio companies working with restaurants, with real businesses, with stay entrepreneurs, with farmers that have literally actually wrote us and told us, hey, thank you for your portfolio company. they have helped me stay in business during the pandemic. timee believe that this actually makes us want to double down on all those industries. make us want to find those entrepreneurs. what comes from those industries that they understand some of these situations for restaurants in america right now and have

the tools to help them not only survive, but thrive through this. emily: as you mentioned, you are a former entrepreneur. you cofounded the spanish version of facebook and also a company called identify, a.i. for hr which was bought. how do you expect the tech industry and the startup economy to come out of this pandemic? we have seen a lot of layoffs. we know a lot of companies won't survive this. what does that mean on the other side? adeyemi: it's a great question. i think none of us have a perfect answer. ams a time in which i particularly worried about the real economy. i'm particularly worried about the small and medium businesses. i think that the technology industry that maybe has an easier time adapting to some of these things because we are used

to remote tools. if we are somewhat in a better position, we definitely have a collective response ability to figure out, ok, how do we help the real economy? how do we work with all of these economies and businesses? either way, if we get that, that is a fantastic economic opportunity for everyone. ajao, cofounder and managing partner of base10 partners. in some acquisition news today, amazon is buying the self-driving vehicle startup. the terms of the deal have not been disclosed, but one report puts the price at $1 million to bring in. to discuss, let's bring in matt day who covers amazon. why is amazon buying a self-driving car company? matt: first and foremost, we know they were for sale. it is very opportunistic m&a strategy.

also autonomous vehicles, it is one of the biggest spaces they have been active with on the margins but don't have a flagship play in. that oxley changes with the acquisition of zoox. emily: meantime, you've got elon musk tweeting jeff bezos is a copycat, ha-ha. any reaction to that? matt: none from mr. bezos officially so far. elon likes to needle the amazon ceo. it is the second time he has done this in recent months. he also suggested kind of casually that amazon should be broken up. so no love lost between these two. emily: how do you expect amazon to potentially integrate self-driving technology into its operation? the: in a bit of surprise, company said their aim is for self-driving technology to be a ride-hailing application first and foremost, which surprised a

lot of folks which expects that amazon would look to bring this to bear in their delivery operations. they have been investing heavily in transportation to get packages around the world. i think the expectation is if they have success in this ride-hailing application, potentially you will see this migrate over to logistics as well. emily: all right, a story we will continue to follow. bloomberg's matt day, thanks. coming up, need a gift idea for your special someone in quarantine? there is an app for it. we will speak to the ceo that allows you to give special comments from athletes and celebrity's around the world. even my husband sent me a cameo from my favorite reality tv stars, peter's mom on "the bachelor." >> this is barb from the bachelor. i wanted to know that jonathan reached out to me to tell you a little bit about your.

you are a big fan. my goodness. thank you so much. i appreciate that. the fact that you loved peter and that you would protect your daughter the way i did, of course we would. that is what moms are for. ♪

emily: when cities begin to order people to shelter-in-place in march, just about all person engagements went dark. fort is when cameo, an app virtual video chat us from celebrity took off. cameo has enrolled thousands of movie and music and tv stars, as well as influencers like the cast of the bachelor. joining us to discuss, the cameo

cofounder and ceo. thank you so much for joining us. you recently hit one million users. for many of them, this has been the perfect gift in the shelter-in-place. talk to us about the activity that you have seen during quarantine. >> first off, thank you for being a customer. we love that. we were able to put a smile on your face for mother's day. ofseems that our theory every cameo is becoming a curse commercial for the next one works up perfectly because now you are getting one for your godson which is exciting to hear. appreciate your business and glad we can put a smile on everybody's face. we have been very fortunate to be one of the businesses that have seen some pretty significant tailwinds from this in a big sense. every single athlete, actress, celebrity after core is really a gig economy worker.

nobody calls them that ever, but the biggest athletes get paid per game. musicians get paid per show. movie stars get paid per movie they do. in a world where all production shut down, suddenly you have the whole creative class out of work at one time. at cameo, we are excited to be able to provide that meaningful income at a tough time in their professional career, while putting smiles on the face of their fans that cannot watch what they love to do most which is performed for them. emily: just some background, the video that my husband got me for mother's day, i believe he had nothing at 8:30 in the morning and she responded by the way. i just about died laughing. i cannot believe she was speaking to me. who is the most requested? what sort of trends are you seeing in terms of the kinds of celebrities and what they are asking for are popular?

steven: the thing that is very exciting as we have such a diverse talent base. at different points, different people really are the hottest. at the beginning of quarantine, the ones that really exploded where the cast of the "tiger king." it made sense. every single american was in the same position. they were sheltering in place, watching netflix. this viral show comes on and the characters became in pop culture and there was a ton of demand. there was more demand for the cast of tiger king than people like charlie sheen. historically, the people who do best on cameo are actually comedians pound for pound. people love seeing jokes, the jokes that are provided or roasting their friends with a cameo. they tend to do pretty well. in addition to hall of fame athletes and actors from really iconic script and television shows like the soup nazi, or

kevin in th"the office." those of the all-time called favorites. emily: you also launched cameo live where you can book a 10 minute zoom call with your favorite celebrity. these are significantly more expensive, like $15,000 for 10 minutes. talk to us about how much revenue you are expecting this to drive. i understand you basically take a 25% cut. what is the outlook for bookings and revenue this year? former first off, i'm a market maker myself. i was an options trader for five years. i traded in the cboe. for me, pricing is something that has always been top of my. any time you launch a new product, especially in a new category like ours, you never know where you should price anybody so we have always given the talent the ability to price

themselves because we never want them to say this is what they are worth. for the cameo products, we have 40,000 different people on it. we have price points where town and they can see people with similar statute, maybe teammate or similar caliber musician that has a similar demographic. when you are starting something like cameo live, use try to throw a different things out there and see what happens. we really excited about this product because it is something that our customers and talent have literally been banging on the table four. while we have longed believed, we think zoom is having a moment right now. i'm coming to you live on zoom. there are over 300 million monthly active users on zoom now compared to 10 million right before. as a stockholder, i am really excited to see how ubiquitous that has become. tailwindsat those

enabled us to try something like zoom calls which if we did it six month ago, they probably would have looked at us like we had three head. this is not that big of a difference from doing a live experience which almost everybody has figured at some point cameo will do. in many ways, this is a much more scalable version we have really high hopes for this new product line. emily: all right, we will be watching. steven galanis, cameo cofounder and ceo. thank you for joining us and bringing me some joy on mother's day. pandemic, despite the the grocery chain albertsons is finally about to go public, but it didn't go as well as hoped. that's next. the ceo joining us. this is bloomberg. ♪

emily: albertsons faltering in its public trading debut after 14 years of private ownership. shares of the american grocery chain failing to take off after it struck an ipo. bloomberg caught up with the sankaran and ceo vivek to discuss the ipo and the omni-channel approach during the crisis. vivek: we are so centered on the long-term. our investors have been with us since 2006. have helped grilled this company and strengthen it. we have momentum in the business. we felt the time was right. when you have a long-term perspective, while are look at the ticker, i have been looking at it all day, i also recognize we are building a company and strengthening this company to build value over many years. >> talk to us about strengthening the company, building the company. there are many that might say

e-commerce needs to get better. what about expansion plans in terms of ensuring you maintain and grow that market share you already have? vivek: no question about that. we came together as albertsons and safeway in 2015. the first few years was focused on integration, putting common systems in place and such. then, we switch to transforming the company. transforming the company is all about putting new technologies. one of those is our omni-channel solutions. we give the customer many choices. you can pick it up from the store, we deliver it with her own strikes, deliver it with third parties. we continue to expand it. we think there is plenty of headroom. it is important to recognize it is all in the early. there is so much learning, so much going on. that is one element of strengthening the company. there's also strengthen the company's day-to-day operations with technology to become more efficient. even in the stores where we do a lot of our business. romaine: you mentioned

safeway, but under albertsons on rela, you've got a lot of different brands. -- atsons, safeway, acme great grocery store. i'm curious, how seamless is it going to be for customers who want to use an albertson app or some sort of online delivery system from albertsons if they are jumping from city to city or from different grocery brand to grocery brand? vivek: the first thing to recognize is these brands have been along for so long. it's a household name in chicago. a household name in dallas. we are proud of those banners. those banners mean a lot to people. they all have this little nuance that is a little different, that is tailored for that customer. when it comes to e-commerce applications, warranty applications, you see the back end is the same, the front end

is different. you are on the same infrastructure. when you move from city to city, you carry your loyalty points. you carry everything, all the data you carry with you. we are working on making those interfaces even better. it is a big part of our agenda. never stops. we are always trying to figure out how to make it easier for you to navigate an order with us. it is a journey that never ends. taylor: our analysis shows a debt load of nearly $9 billion. grocery stores notorious for being a low-margin business. in the middle of pandemic, do you think about those low margins and reducing the debt burden? 2.4ek: our debt load is thi times, which is a good place to be. our program continues to reduce that from the cash flows that we get. it used to be much higher. it used to be four times. we have brought that down

significantly over the years. we are not debt constrained, we are not capital constrained. we can take a very measured approach to pay that down and then get to the right balance of debt and equity to fund the company. emily: albertson president and ceo vivek sankaran there. that does it for this edition of bloomberg technology. i'm emily chang in san francisco. have a wonderful weekend, everyone. this is bloomberg. ♪ save hundreds on your wireless bill

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david: not so fast. markets and people eager to get back to business stumble over ever surging virus. this is bloomberg wall street week. i'm david westin. this week, contributor larry summers of harvard. larry: i wonder whether the markets will go ahead of itself with respect to the airlines. david: senator mike braun of indiana. >> shutting down early, opening up late in a one-size-fits-all approach that many places took, that is going to make the recoveries harder. david: new york stock exchange had stacy cunningham. >> we are hearing from investors and insurers that they are looking for more choices. we have been working with the