♪ emily: welcome to "bloomberg technology." today is the day president trump has said he will resume his daily briefings to the public at the pandemic continues and cases continue to surgeon across -- continue to surge across the country. potentially any minute now, the briefing is scheduled to start at 5:00 p.m. eastern. these oftenow,

happen late. these briefings of course have been quite controversial with the president sometimes contradicting the scientists standing right next to him and also pushing treatments that have not yet been proven. the president as of yesterday has started urging americans to wear masks, saying to do so is patriotic. all that said, stocks, mixed picture today. tech leading the losses. abigail doolittle has been breaking it down and watching the action. abigail: another jittery day and another day where this is not a satisfactory answer, it does not feel like a satisfactory answer to some. it is very hard to say that yesterday was risk off and therefore you had technology and stay-at-home leading, and today is risk on. if it was a strong cyclical rally and the sectors that were

higher were those cyclical sectors such as energy, financials, industrials. a stronger gain has to do with that tech laws. nasdaq down 1%. more jittery action, that tells you lots of uncertainty as we head into the start of the earnings season. gold and silver, silver up for rate third day in a row. back off of the march lows. silver is up over 80%. that is where that money is going as we sort of waffle around into this uncertainty. after hours, we have movers on earnings, including snap. the daily user growth lags the forecast even though revenues were up 70%. if you include that with -- 17%. not used quite as much as

maybe some investors and traders had hoped. texas instruments up just a little bit on a quarter that was ok. they gave a very strong forecast really off of its highs. in the after hours, it had been up 3%. so traders going on must have just changed their minds. the second quarter largely regarded for most of these quarters to not be great, speaking overall. everyone is looking forward to the forecast. emily: interesting. well, we have more earnings out this week including tesla out tomorrow. abigail: this is a big one. options-wise, it is suggested that tesla will move 15% up or down. given the fact that it is already up so much this year, it

is hard to see another 15% to the upside. we already know that they exceeded the delivery number for the second quarter. so it will be all about the forecast. a fourth quarterly profit in a row, that would be positive. relative to that 15% move, when we connect that to market caps, it is not a small move. roughly $49 billion in market caps if tesla does in fact make that huge move. if we put that into comparison with some of the real make a cap stocks, amazon, they report next week based on the current option pricing. on the last report, that stock was down 7%. $145uld see a move of billion. all eyes on tesla tomorrow after the bell.

again, that could be a $50 billion move in just one day. thursday could be exciting. emily: our eyes will be on it. abigail doolittle, thank you so much for breaking it all down. meantime, it seems to have been insurancer for technology companies. hippo, fresh on the heels of its rival, lemonade, has raised fresh funding. now valued at $1.5. joining us is the cofounder. thank you for joining us. i would love it if you could start by sort of painting the picture of the environment out there. obviously, we are waiting on potentially a new relief package from congress but for many, it will not come soon enough. what was it like for you trying to raise money in these conditions? >> not easy. i think what you see is several things. insurance as a

sector is quite resilient. specifically home insurance, close to a beta of zero. that resonates very well with investors now. most people, there was a panic weree beginning, then they realizing they were staying at home and people who are homeowners are stronger based than others in the economy. most of them still detained their insurance. if anything, this is exactly the right time to refresh and renew your insurance, making sure you have the latest and greatest. set up our homes are not to have people staying in the for so long. conventional wisdom would seem to say that not as many people are moving right now, not as many people are buying a new home. what sort of trends are you seeing when it comes to demand

from customers, when it comes to impact from the pandemic? >> even in that short time span of the last few months, in the beginning, you are absolutely right, there was a lot less movement of new homes. partnerships we have seen, companies like open doors, big partners of hours, there was a decrease in home sales in the beginning. however, interest rates were down and some of the partnerships that had to do with mortgage origination were up because people were refinancing. , i would say for , people realized they need to renovate their home , swimming pool, deck, fill in the blank.

that is what you are seeing now, a surge of diy projects, a lot of new homebuying. have an interesting model that your package includes mate's, repair, yet you can less this, you say, at 25% than some of your competitors. how are you able to do that? >> it is a combination. one, we are a new technology company. cost basis is very different. the second thing is that, if you open your home insurance policy, you see that you are covered for things such as china, silverware. out, byg these things removing some of the fees, it enabled us to offer the way cheaper price. for the smart home components,

we have a big belief that the best claim experience is the claim that we can avoid having in the first place. we think that by offering you smart home kits to avoid water leaks, smoke, fire, alarms and things like that, we can help prevent losses in the first place. i would say the maintenance component, we acquired the company around nine months ago. used to send somebody to your home to do a home checkup, help you with some light work in your home. can't in covid time, we send somebody to your home. customers can call if they have project soaring small leak or anything like that. they can just contact our people and they can help you out with that. emily: what is your outlook on

the coming few months. we are standing by right now waiting for president trump to take the podium. he said he will restart his daily briefings. it is almost like deja vu, this as cases research across the country. i wonder if you are expecting people to buckle down again, not move, not by new homes. i wonder what your outlook is for the second half of 2020? >> i would say slightly more pessimistic than optimistic. we are always bracing for impact. as i said before, even on the first quarter and second quarter, the company was actually doing very, very well. what you see, if people will stay more at home, they would look to save money, look for online distribution. what you are seeing is that several sectors in the market

are speeding up. things like telemedicine bully moved five to 10 years ahead. emily: the president has taken the podium. pres. trump: update on our response to the china virus and what my administration is doing to get the outbreak in the sunbelt under control. it seems largely in sunbelt but could be spreading. my team is working night and day with capitol hill to advance the next economic relief package. we are making a lot of progress. i know that both sides want to get it done. we will call it phase four. we want to get it done. it will protect our schools and families very strongly. mourn every life that has been lost. i pledge that we will develop a vaccine and defeat the virus.

we are doing very well with therapeutic to fire -- therapeutic development. i want to thank our front-line responders. they are truly brave. my administration will stop at nothing to save lives and shield the vulnerable. we have learned so much about this disease. we know who the vulnerable are. the vaccines are coming and they are coming a lot sooner than anyone thought possible. the china virus is a dangerous illness but we have learned a great deal about it. we have developed, as we go along, some areas of our country are doing very well. others are doing less well.

it will probably unfortunately get worse before it gets better. something i don't like saying about things but that is the way it is. it is all over the world. it tends to do that. the governors are working very hard. them 100%.orting everything they need, they get. we are taking good care. we have tremendous supplies, a great supply chain. whether it is ventilators, gowns, just about anything they need. that is a big difference from inheriting very empty cupboards. the median age of those who succumb to the china virus is 78 years old. roughly half of all death have been individuals in nursing homes or long-term care. study, many of those hospitalized had underlying health conditions, whether it is part or diabetes.

condition, if they have that, it is a problem. young adults, many of them will have mild symptoms. they won't even know they are sick. america's youth will act responsibly. we are asked -- we are asking everybody, if you are not able to social distance, wear a mask. whether you like the mask or not, they will have an impact. children have the lowest fatality risk. 96% of all virus fatalities are in adults. that is much less than 1% for children. in learning how to treat the disease, we have been able to greatly reduce mortality in the

united states. it will show you a chart and how well we do compared to the rest of the world. we have several treatments already available that has reduced the severity and duration of the disease including remdesivir, which has been very successful, and a widely available steroid treatment. practicesarned best for treatment of the virus. we have shared them all over the world. the relationship has been very strong. hospitals are aware of the important's of oxygen treatment including high flow oxygen, the important stuff steroid treatment for those on ventilators. when you are on a ventilator, we have learned a tremendous amount about the use of a ventilator. peoplebeginning, and

never had an experience like this. the doctors and nurses and helpers have become incredibly good at the use of a ventilator, which is actually a very complicated procedure. allocating remdesivir to hospitals, since it works best early in hospitalization. that is something they have started. fatalities have fallen nationwide 75% since mid april. as cases and fatalities rise -- in hard-hit states certain hard-hit states, we again have tremendous amounts of supplies. we are in very good shape, and we can move them quickly. our case fatality rate has continued to decline and is lower than the european union

and almost everywhere else in the world. if you watch american television, you think that the american country was the only one involved with and suffering from the china virus. the fact is that many countries are suffering very badly. they have been suffering from this virus for a long time. we have done much better than most. with the fatality rate at a lower rate than most, it is something we can talk about, we are helping a lot of countries. i get calls all the time asking for help, especially when it pertains to the ventilators. they need help with ventilators. thousands of ventilators a month. it is quite amazing we keep doing a good job and things will get better and better.

we will be putting up charts find me showing different statistics, different rates of success, also things we can do better on. they will be put up as we go. in april, the average age of individuals who tested positive for the virus was over 50 years old. today, the average age is significantly younger. hospital length stays are about half of what they were in april. the number of cases requiring hospitalization has been reduced. we have learned a lot about this disease, how to handle it. lot,octors have learned a not only in the use of ventilators but any other things. things are happening like the remdesivir and other elements. these trends could change. aat is what we have,

relentless focus. recent weeks, we have seen a significant rise in cases two hours south, southwest, and west. this began in mid-june, primarily among 18 to 35-year-olds. we are also facing the challenge of a significant spike in virus cases across the rest of the western hemisphere including mexico. mexico has been hit very hard. the president, a great gentleman, was here two weeks ago. they have been hit hard. we have achieved in nearly fourfold increase in testing capacity. we are successfully identifying more a symptom attic and mild cases, in some cases so mild

that you don't even really treat them. some cases with children that they don't even know that they are ill. and i guess they are not very ill because they recover almost immediately. capita, the u.s. is conducting 50% more tests than europe. we have conducted more tests than all of the countries in the western hemisphere combined. over 50 million tests. isolate those to who are infected, even those without symptoms, so we know where it is going and when it is going to be there. beendministration has aggressively responding to case growth. we continue to work with all governors but in particular those governors. we are coordinating closely with hospitals and governors. in the last few weeks, i have said -- i have sent senior officials into nine states to

meet with governors and provide recommendations to various leaders, including hospital administrators. my administration currently has zero unfulfilled requests for equipment or anything else they need from the government. andkly, we are stocked up ready to go. wherever we have to go. national guard and military florida, in texas, arizona helping us greatly. the military has been fantastic. we are closely monitoring hospital capacity in the states. hospitals are open for elective surgeries and other procedures. americans to get -- all of the governors we have spoken with said they have enough bed

capacity. that is a great thing. our initial shutdown was to prevent the overflow of our hospitals and to allow us to meet the demands from this global pandemic a shutdown was really never an option in terms of what we are doing right now. completely unsustainable. produced debilitating fallback and led to public health consequences. there are consequences to shutdowns. lives by doing the initial shutdown but we are now very aware of this disease. will end up with a cure, end soon wea vaccine very are instead asking americans to use masks, socially distance, employ vigorous hygiene, wash your hands every chance you get

while sheltering high risk populations. we are imploring young americans to avoid impact bars and other indoor gatherings. be safe and be smart. we are searching testing capacity, including a duly improved testing platform to nursing homes across the south. all of the staff and rested -- ,nd residents can be isolated that is really the high-risk people, the high-risk wonderful people. caseshis current surge in declines, this platform will enable people to visit their loved ones after taking a test. ultimately, our goal is not merely to manage the pandemic to end it.

we want to get rid of it as soon as we can. that is why getting a vaccine remains a top priority. two vaccine candidates are entering the final stage of clinical trials this month. this was achieved in record time. we are mass-producing all of the top candidates so that the first approved vaccine will be available immediately, and logistically, we have the military ready to go. we have great people, logistic military people, a wonderful general who was waiting for the vaccine so they can distribute it in record time. our military is all set to go. vaccine,eliver a therapeutics, whatever is necessary, and defeat the virus once and for all. i will take a few questions if you would like. all of thehank

staff, the white house staff, all of the doctors we have been working with closely. a lot of very positive things are happening. diseasenasty, horrible that should have never been allowed to escape china, but it did. we are going to get it taken care of and we are helping oughts of other countries. reporter: first, i just want to get clarification. the secretary said today that you sometimes take more than one test per day. why is that? pres. trump: i take probably on average a test every two days, three days. i don't know of any time i have taken two tests in one day. reporter: republicans and democrats on capitol hill have said they want to see more money for testing. they want to send billions of dollars to the states for testing. probably some veiny the other day saying -- probably saw mick mulvaney the other day saying

his kids, it took them some time for testing. some of the tests, massive tests, it takes longer. are five minutes. i prefer that. the numbers are coming down. as we go, the example, there are thousands of kits being made right now that give you a 15 minute and five minute test. those numbers are similar in other places. they are also doing massive numbers like nobody thought possible. those numbers will be coming down. reporter: are you in favor of or money for testing -- favor of more money for testing? pres. trump: they will make a presentation tonight. we are leading the world. we will be over 50 million

tests. the second is india. if the doctors and professionals feel that even if we are at a -- i would beone comfortable. reporter: where is dr. fauci, dr. birx? pres. trump: dr. birx is right outside. reporter: in november, do you want the american people to judge you on the ballot in november on how you handled this put them in -- handled this pandemic so far? pres. trump: this and other things. will judge american me on this but also the economy. i think we will have a strong year next year. a very strong third-quarter,

fourth quarter. i think next year would be a record year. i think they will judge me on cutting, on rebuilding the military come on how we have handled the v.a. veterans choice, that has been any decades they have been trying to get veterans choice where they can go get a doctor. frankly, that has been a great thing. veterans accountability, i think they will judge me on that. in three and a half years, the first three and a half years, the first years of a president, i don't think any administration, any president has accomplished so much as we have accomplished. from energy, health, other things. i callme in, the plague, it the plague. terrible thing, should have been

stopped. we had to shut things down to save potentially millions of lives. we have started it up very successfully. >> you have been saying for months that the virus would completely disappear. now you are saying it is likely to get worse before it gets better. if it continues to get worse, are you responsible for that? pres. trump: the virus will disappear. i always like to say, either way, when you look at it, the governors are working with me, i am working with the governor, i think we are all responsible. i view it as a team. very good relationships with the governors. i could say i am fully responsible but one day we had a virus come in and i closed the borders, did a lot of things that were very good. dr. fauci said we saved tens of thousands of lives when i closed

the border. with close to the border to china. we did not want people coming in from heavily infected china. fairly shortly thereafter, i closed the borders from europe. say 140,000, we's could say we could have quadruple the number. we did a lot of things right, including with equipment. it is a shame it happened. china should have stopped it. reporter: my first question is you have a quick testing side of the white house. it is great to get tested quickly. would it be easier to reopen and restart businesses if we could rather more pres. trump: than sending a test in and go through the mail one day and

comes back another day, it is a day. that is two days wasted. if it spins by the time you get it back, it is two to three days. we are trying to get the testing on site. i like it that way the best. reporter:p: my -- ghislaine maxwell is imprisoned and people want to know if she will turn in powerful people? you talk about prince andrew, and you criticized his behavior. is it too soon to turn in powerful men? pres. trump: i have not been following it too much. i wish her well, quite frankly. i met her numerous times over the years since i lived in palm beach. i wish her well. whatever it is. i don't know the situation with prince andrew. reporter: not aware of it. -- president, uninsured men

unemployment insurance. how much further low are you willing to go? why do we need to cut it at all? pres. trump: the economy is getting stronger and we have a chance to have a very strong economy. backnt to have people go to work as opposed to being forced into a position where they are making more money than they expected to make and the employers are having a hard time getting them back to work. that was a decision that was made and i was against that original decision. it did give people a real lifeline. now we are doing it again. they are thinking about 70%. doing it in smaller, initial amounts so that people will want to go back to work as opposed to making so much money that they really don't have to. but we were very generous with them. i think that it has been a tremendously successful program. the whole thing has been

successful. we are in a pandemic we are producing a tremendous number of jobs. reporter: yesterday, you said that wearing a mask was enacted patriotism. if that is the case, why don't you do it more frequently? pres. trump: i carry the mask when i have to. i went into walter reed hospital and i carry the mask right here and will use it gladly. no problem with it. i have said that. if you can use the mask, you -- if you can use the mask, use it. when i am in a group, i put it on. when i am in an elevator and there were other people, including security, i want to protect them also. i put on a mask. i have no problem with masks. i view it this way, anything that can potentially help, and that can certainly potentially help, is a good thing.

i carry it, i wear it. you saw me wearing it a number of times. go ahead. reporter: yesterday, you tweeted out wearing a mask and last evening we saw you not wearing a mask at your hotel. pres. trump: i don't know the hotel. i was pretty far away from people. i will say this, i have explained it very well. if you are close together, i will put on a mask, and fewer not, i would say, for instance, you have all been tested, i have been tested. often times, i will be with people who have been fully tested. in theory, you don't need the mask. i am getting used to the mass. think about patriotism. maybe it helps. we have experts that have said in the recent past that masks aren't necessarily good to wear. you know that, but now they have changed their mind. if they change their mind, that is good enough for me. reporter: a lot of americans may

be surprised your change of tone over all of this, a more realistic tone, some look at it that way. suddenthern -- the wearing of mass, social-distancing. pres. trump: i don't agree with that. i never fought either one. certainly social-distancing, that is common sense. to me, it is common sense. maybe make it further. reporter: the idea that things will get worse before they get better here in may perhaps the realization that this resurgence, if you will, is for real. we use to talk about in terms of little fires being put out here and there. pres. trump: we have and big fires and unfortunately, florida is in atle tough -- tough position. you have a great governor there and in texas. i think they will handle it very well.

their hospital capacities are holding a, but texas is a big state and is very well run and so was florida and i think they will be -- they will do a good job. reporter: yesterday puffs study by a chinese company shows promising results for its coronavirus vaccine candidates. developings first in a vaccine, with the administration be willing to work with china to bring a successful chinese fencing to the u.s.? pres. trump: we are willing to work with anyone who will give us a good result. we are close to a vaccine, and we will have very good results. we are already in testing mode. under the old system, it will be one to two years before you could use the word testing. the reason we are testing if they have had good results. they are testing also for safety because they have to make sure it is safe. i think you will see something over the next really sure period withme having to deal

their pewter extender very good. we will be doing these quite often and will keep you abreast of this, and we will talk about some of the other topics, like our economy, which is doing well. the stock market had another good day. they see a lot of positive things happening on this frontier. thank you very much. thank you. [camera shutters] emily: president saying he will often, andfings more this seems to be the first day of the series of briefings here has been doing at the height of the pandemic. the president urging americans to wear masks. lots of discussion about the president's own wearing of mask, or lack thereof, saying the virus could get worse before it gets better, highlighting cases continuing to surgeon southern and western parts of the country.

talking about how he doesn't have a problem wearing masks and will use it gladly. our bloomberg's reporter has been listening in and joins us now on the phone. emily, the president's on message it seems unusual. what were your takeaways of what the president had to say? emily: this is definitely a more reversed tone for trump than what we have been hearing for the past. if you remember, he play down the issue of coronavirus saying it would just disappear. is focus has been on reopening the economy. this has sparked a change in tone that we have seen for the past several days. he encouraged americans to wear a mask and tweeted out a photo of himself the other day wearing a mask. this is something we have not seen the president do a recently. he acknowledged the virus will get worse before it gets better. and he asked americans to please be safe, avoid crowded areas,

including bars. this message seems to be one focused on safety and ending the virus, a little more focused than we have heard in previous briefings. virus e did say that the will disappear -- he did say that the virus will disappear, when it comes to vaccines, when it comes to treatments. when it comes to reopening the economy and there continues to be a debate on that, what should happen in the fall, should schools reopen or not, he says a permanent shutdown was "never really an option." you think about some countries where they did go into lockdown for an extended period of time and their case numbers don't look anything like ours. what do you make of that in the context of the economy? emily: i think, there is a lot of pressure right now from republicans for the economy to reopen. i want to put this into context of trunk's reelection because that was one of the main things he was planning to run on in

2020 for november and he did have such a strong economy, such good job growth in me that is not the case anymore at this time. we have to remind people what the economy was previously. there is that pressure to focus on the economy, but and this is not a new thing. we have heard from other people in the white house who really want the economy to we have to get the number of cases in the u.s. under control, compared to the european union, compared to australia and other countries, the u.s. is having way more cases on a daily basis and more deaths as well. emily: what do you make of his remarks about testing? he was pressed on whether heat things testing is going very well, whether or not we need more money for testing. you are hearing stories about people getting tested, not getting an answer for more than a week. what is the latest when it comes to better testing across the

country? it is true, as he says, we have done testing more than perhaps any country in the world, but also, we got an exploding number of cases. emily: absolutely. i think his -- i think we saw him getting a little defensive at point in the press conference, trying to defend his own response to the coronavirus both in terms of testing, in terms of what policies he has done, and to have seen this tension in the white house as cases in america have increased. look, vaccine testing is something that if you want to move down the street from the white house to congress, it is being discussed is something that needs to be continued to have funding. this is something lawmakers on both parties agree needs to have funding for, and there needs to be continued research and funding for that research into

coronavirus and a vaccine. emily: meantime, you have the cdc coming out today saying cases could be two to 13 times higher than reported in certain parts of the country. you are continuing to see this divergence in terms of how the governor of florida versus the governor of california is handling this. you referenced governor ron desantis saying he is in a tough position -- he referenced governor ron desantis saying he is in a tough position. affect republican governor? see the governors respond to the situation in front of them. yep texas governor greg abbott opening up taxes, and then days sing theying that -- need to lock things down again. -- days later saying they need

to lock things down again. they have to shut back down again. it seems that americans are sort of learning what they really need to do and how they need to behave in this new era of coronavirus. and it is kind of one of these things where they try to open up, everyone wants to get to the point where you can see families and go to restaurants, but it does require social-distancing, requires people to wear masks naming it requires a number practices that we are not seeing implemented throughout the country. emily: today, you got the department of justice talking about two chinese hackers alleged to be stealing, or attempting to steal coronavirus research from the united states on behalf of the chinese government. we heard about this last week when it comes to russia. what can you tell us about this latest situation when it comes

to china? emily: we heard. we heard russia last week in china, too, but we have something much more specific accusing two hackers to work to try to still data for coronavirus. it is not just the u.s. there were 11 other nations involved in this. this is simply something where there is a lot of pressure. whatever country winds up getting this vaccine is going to have a big economic advantage. they will have a big commercial advantage, just a big advantage for their people in general. there is a rush right now to get their hands on this vaccine, and i think hacking is something that is a side effect of how desperately so many nations want to make sure that they are getting this vaccine. emily: all right. much wilkins, thank you so for more on that story about these two china hackers charged

by the u.s. government, kevin cirilli spoke with the u.s. assistant attorney general for national security. take a listen to that conversation. >> we are announcing the charges today that they to biddies of the group continue up to the day of the indictment. we will continue to monitor what they do, but even more importantly, continue to work with the private sector companies to help them guard against this kind of activity. as we say in the indictment, they come back. luckily by working with the companies, by working with the department of energy, the managed to prevent the returning hacks. kevin: what are steps you can hackersm preventing from stealing as intellectual property? >> safeguarding your data on the most secure security -- safeguarding your data on the most secure devices you have. onot of people are working

remote devices. the second piece is going to the fbi if you say something went on, just don't think i have an hr problem, it is a glitch, but understand this could very well be hackers. and you will not be able to figure it out by yourself, so go to the bureau. some executives thought about having the fbi or regulators kind into their boardroom and in these types of investigations. they view this as a significant reputational risk hazard. but to your point, can you assure them that if they work with the authorities through the proper channels, they are not from to face any damage their business bottom line, but may be protecting themselves. >> the worst thing you can do is not go to the bureau. and then get found about later because you did not try to do everything you could to protect your company's data onto saw there was a breach. if you work with the bureau, we did not name any of the

companies involved. we work closely with all of those companies and we have been doing this for many years now. and we will try to protect your identity. we are not there to root around your files a look at whatever we can we are there to investigate this breach, and we will try to do it without disrupting the rest of your activity. kevin: you and also to indictments from this morning, but when you re-that, there is a lot of concern that the communist party in china may have been supporting these individuals. their evidence to suggest this much? >> they are allowing them to continue their criminal activity instead of acting like a normal government, which shutting down cyber intrusive activity. because they are on all call to the benefit of the state. they are extorting companies and trying to steal for their own profit, but at the same time, you can see, they are out there looking at human rights incidents, looking at clergymen who are not apart of the

official church in china. they are doing the chinese communist party at the same time they are making money for themselves. kevin: could there be additional charges or additional sanctions placed on chinese individuals, who are aiding this type of conduct? >> we are always continuing these investigations, and we will see where they go. kevin: that sounds like a maybe. [laughter] when you look at congress on the legislative standpoint, do you think congress needs to pass in order to better protect the private sector and the supply chains, as well as to protect somebody's businesses from being penetrated by the communist party? >> at this point, we have the tools we need. we have a supply chain executive order meant to protect the supply chain. it is a great question because it is constantly evolving. we have to work with congress to maintain we have what we need and the private sector has what it needs to protect itself from

these kinds of threats. , the u.s.n demers assistant attorney general for national security. we will be right back with more uber tech" right after this quick break -- we will be back with more "bloomberg technology" after this quick break. after this quick break.

♪ facebook started adding voting information labels to post about the election, including the use shared by president trump and joe biden. facebook announced they would be doing this in late june in response to all of the criticism surrounding election misinformation on its platform. i want to bring in kurt wagner who joins -- who does social media coverage. what have we seen in terms of

facebook implementing this policy? kirk: it was announced in june they will start doing this, and i am told it only started coming into actual practice last week on friday. ofve already seen the label biden, trump and senator chuck schumer is on the list. the posts, it includes a link at the bottom of a facebook post that brings people more information. they're sending people to live usa.gov website and having them land on the page about voting. in the future, they want to bring people to a boating hub that facebook is creating for themselves that is just not live yet. basicallyttempt to educate people about the voting process as they see this come across their feet. emily: also, i wonder if it is an attempt to take a middle ground in the middle of all of this controversy about what facebook does and doesn't do when it comes to content on their platform?

they are not actually fact checking these posts will correct? kirk: that is right. i think you're absolutely right in your assessment here. what we have seen over the last two months starting with twitter, back-checking metals from president trump in late may about mail-in ballots. we have seen a ton of pressure for facebook to do the same, and mark zuckerberg has said he does 1 -- has said he does not want to be in the business of back-checking politicians. this policy really covers them for that. they are saying we will add this label to every post about voting regardless of its accuracy. that way they are covering themselves on stuff that is inaccurate and they are not looking like they are taking a side. we are looking ahead to the anti-trust hearing on monday, where as we understand, mark zuckerberg along with his

-- along with ceos of alphabet theothers will be before subcommittee. what do you know about the proceedings? how will this play out on the day? kirk: i mean, these are probably ceos of most famous technology. this is a highly-anticipated event. i'm excited to see how it plays out. this will obviously be online, and it will be interesting to see who kind of gets the most attention from lawmakers. usually, when we have multiple companies represented at one hearing, it feels like one company in particular gets the attention and focus of questions. facebook is typically that question, but they have never been up there with amazon and apple before appearing i'm vary fascinated to see how this plays out. i expect there will be a lot of questions about facebook's other properties like instagram.

we know that mark zuckerberg did testify before congress a couple of years ago. that was a daylong event. we later saw sheryl sandberg of the coo, sitting to the twitter ceo, jack dorsey. it will be interesting to see how all of these ceos potentially in one room together, what that actually looks like. what are you hearing from facebook in terms of shaping our understanding of what is going to happen on that day? making their argument that facebook should not be broken up? prettyacebook has had consistent talking points for a while on this front. they treat their side as an advantage. they talk about things like hate speech, motor misinformation and say, if we want this big, we would not have the resources to go out and fight this stuff. they pointed to a company like twitter, which is much smaller

and said, look at the money we're spending is bigger than their entire annual revenue. i imagine facebook will continue that line of argument, and also, they talked a lot about asking for regulation saying, we want to participate in the regulatory process. they want to shape whatever rules come into play. i imagine they will make those similar arguments we have been hearing in the past. that has been their party line. emily: we will be all over it, as will you. bloomberg's kurt wagner, thank you so much for that update. i'm emily chang in san francisco. stay tuned. "bloomberg daybreak: australia" is next. this is bloomberg. ♪

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♪ >> good evening from bloomberg's headquarters. i am in new york. >> i am in city. welcome to daybreak australia. wall street banished a third straight -- wall street managed a third straight gain. approach 15 cases million with death