♪ emily: leading the rally, pushing the nasdaq 100 to a record. apple hitting an all-time high. microsoft trying to salvage a deal to buy the u.s. operations of the chinese social media an tiktok- social media app

. president trump saying they can pursue a deal but if it does not get done by september 15, it will shut down. we are standing by for the president to give a news briefing, where he might elaborate on his position. also, the administration indicating it will pursue extending unemployment benefits on its own. joining us now to discuss the market moves, abigail doolittle, how has been covering all the ups and downs for us. today, a was mostly up. sort of a perfect storm of events. last week, we had decreed earnings reports from apple, amazon, and facebook. we also had strong manufacturing data in the form of the ism manufacturing number. at the end of the day, the s&p

500 up. the nasdaq carving out another record high of 1.4%. apple and microsoft, those were the big winners. also, biotech. againste for a vaccine the virus. not everyone is buying into this rally. but there you have it in terms of the big winners on the day. over the last two days, it is incredible. 15%rabolic spike of bound -- of about 15% for apple. valuations, high. that is something to keep in mind of. on the way up, that is generally not being looked at too closely. microsoft, that tiktok news. today, microsoft soaring on at once again.

amazon and alphabet not participating in today's rally. lower lastd been friday on somewhat of a mixed quarter. net-it, big tech is in charge. these are the companies that seem to be doing real well in this pandemic environment. taylor: --emily: this microsoft news is obviously going to be big throughout the show. they come out over the weekend and confirm they are trying to buy tiktok. the president -- huge search with a lot of potential questions around this deal. apple hitting a record high. what are some interesting trends within that? abigail: friday, the markets were not necessarily higher.

until that microsoft news came out, the possibility that they are interested in buying tiktok, that is when microsoft surged higher. that is when apple really took off. you seechart shows, these mega caps getting more mega. close to $2 trillion, if you can believe it. andso far behind, microsoft amazon. that is the trillion dollar club. i think that this potential merger shows confidence on the part of these big tech companies, that the future is ok, that a potential investment could be made. i think it is certainly helping to buoy the confidence on behalf of tech traders in particular.

for layingks so much the groundwork for us. we are standing by for the president. tiktoknt trump saying will have until september 15 to make a deal. trump telling reporters at the white house today that he is ok with the idea. he also said the federal government should be paid "a substantial amount of money as part of the deal." , what is your take on this? angles.different made a niceoft pivot several years ago into the cloud with microsoft azure. before that, the stock had been dormant for 10 or 15 years.

they have had success with microsoft azure. but this would bring them into social media for the first time and all of those social media related and revenues, this could be a real kickstarter for microsoft. of course, it depends on what kind of deal is struck. emily: you own a good chunk of microsoft. that said, this would be a completely different kind of deal than microsoft has done before. does that give you any concern, have foughts they antitrust issues in the past. paul: you raise a really good

point. they have been a successful company but one thing they have been bad at is the consumer side of the house. at ceo, since he came in 2014, they will do this right. this is probably the most exciting not just social media product, but tech product that has come down the pipe in a long time so if they have a chance to grab it, they should. emily: this statement coming in from tiktok. tiktok is loved by a hundred million americans. it will be here for many years to come. confirming that they had these talks, that they are committed to aquiring tiktok subject complete security review. i lived in china in 2008 when the chinese government blocked facebook and twitter.

at the time, we did not know how long it would last but now it is going on 12 years. what do you make of the president trying to use his power to ban a company that 100 million americans are using? paul: i think it is absurd. to follow up today with a conversation that if microsoft indeed buys tiktok, that the government should have some kind of founders fee paid. unbelievable. however, i think given the concerns about tiktok -- i would never have as many concerns about this company then, say, huawei. this is an opportunity for microsoft and i hope they can get through the obstacles to get the deal done. but, absurd, some of the

comments made today by the president. emily: even microsoft saying in their blog that they are committed to providing economic benefits to the united states. we are also watching this big rally in tech stocks. not just microsoft shares, but apple. you and the past have said that apple was overvalued in the past. paul: i still think it is overvalued. i have it in the portfolio. it is a fairly large position. but absolutely in, relatively a little bit light. notice, you still have at least 40% of their revenue is for the iphone. i was happy to see when they reported their earnings last 5g ishat the delay in

going from september only about to the october timeframe. that still is a great dependency. over time, smartphones mature. the other thing that really as its stockas far work,was some remote students at home buying ipads and max. if and when we solve the covid riddle, that business will go back to where it came from as recently as a year ago. so if you are planning your hopes on the iphone, the mac, and the ipad, it is maturing and, in the future, the growth there has to slow dramatically.

so that, with the current stock rice, has me worried -- stock price, has me worried. i have some facebook. one of the things we have spoken about so far is, if microsoft does the tiktok deal, zuckerberg and facebook can go back to congressional testimony and say, look, we don't dominate the whole space. we have microsoft taking on a really big social media property. so they might become a more interesting story in directly with the hook up between microsoft and tiktok because they can probably stave off those regulators worried about facebook becoming too powerful. got nvidia.e also

obviously a lot of activity in the chip space. what are some dark horses we should be watching or names we should stay away from? paul: i would be very careful about blindly adding tech stocks. i think my two best ideas, not in the near term but over the next couple of years, micron mu, and asml. i think those companies will have big moves. unfortunately, i think some of the big moves that have already otherade in some of the big names. emily: thank you so much for joining us and sharing your insights. we will be watching to see what moves you make. coming more, -- coming up, more of "bloomberg technology." google making a big investment

in the security company adt. this is bloomberg. ♪

the security of system provider adt sword today after google announced taking a 6.6% stake in the company. thecompany's plan to create next generation of smart home security, they say. garrett, talk to us about the motivation for this deal. i find it interesting given that google is right now in the spotlight for antitrust concerns, surveillance issues, yet they are investing in a home security company.

>> i think in terms of antitrust, google will argue that they are not a dominant player when it comes to security. they make devices such as smart locks, smart cameras. in terms of the overall google picture, making home security devices is even smaller. i think the motivation, if they can kind of push this through, is to say, we need someone to go out and distribute our devices. amazon has their own marketplace, apple has all the stores. google has a tough time getting their products out to people. with this deal with adt, they will use this company's 20,000 employees. more than 5000 rns dollars. thousands more are salespeople, will be going out, pounding the

pavement, and say, if you want sign a home agreement with us, you need google hardware. given how much data we were to give to google about ourselves. -- we already give to google about ourselves. >> we are all concerned about privacy. we say we are concerned about privacy, yet people keep putting smart devices in their home. the security market, in terms of smart products, is growing around 20% every year. this is something that goes from early adopter to a mainstream product. i would say regular people who are not necessarily always the ones who run out and buy the latest gadget, are putting these

all over their homes. although many people say they are concerned about google, some suggest otherwise. about what does this say the success of nest? google bought nest years ago. nest already makes some of these products. with that acquisition not going as well as people hoped? gerrit: the nest products are relatively popular. it looks as if they are potentiallycan with amazon'seck with ring. nest and ring have double-digit market share. it is not as if amazon is totally destroying google in that market. but the real prize here is getting control of the

consumer's home. amazon if you have an alexa device, you want to probably get other google products. now, if they are saying, maybe somebody is installing a google smart security system for the first time, they will probably end up buying more google devices. google will be able to advertise to those people, sell them services, maybe convince them to versusandroid phone iphone. emily: all right, interesting development. thank you so much for giving us the update on that deal. keepg up, snap trying to tempo with its competitors by offering a new music feature. this is bloomberg. ♪

♪ snapchat is making its way into the music business, landing a deal with tom music companies, securing the ability to add licensed songs to the platform, a feature similar and familiar to tiktok and instagram. joining us, lucas shaw, who covers media and entertainment for bloomberg. important about how this is for snap? lucas: it has been a long time coming. snap has wanted to have some kind of music licensing for years. i think, considering the uncertainty around tiktok and kind of its ongoing competition

with both tiktok and instagram, this is a feature that users clearly like. they like sharing videos set to music. if you want to do that now, you have to play music with your phone. you are probably breaking the law. this makes it so it is a more friendly experience and a legal one, and could give snap some momentum. emily: just in the last few ,eeks, its main competitor facebook, finally got the rights to music videos. where does that leave snap sort of amidst the competition? are a nicec videos addition for facebook, but that is really an area where youtube is dominant.

i don't know how likely it is that any rival social app is going to chip away with it. for facebook sense and instagram given the length of videos people watch there. snap is primarily a messaging app. that not having music videos is as big a deal for them. emily: what do you see next in terms of the evolution of this? obviously, companies are fighting for mind share and timeshare and some are doing better than others. lucas: you have a competition for attention between a lot of different apps. music has been central to all of them. it is interesting to see a lot of these services licensing music in a way they have not in a long time. they are looking for ways to try to carve out their respective

niches, where snap is for messaging. in bothm has dabbled photo sharing and video. but i think we are seeing them come to the same place, which is they have tried to say, this is our lane, yet they are all getting music licenses to kind of do the same thing. is howmain selling point popular they are with the main demographic, how that demo may not use instagram as much as an older age group. what does that mean for the industry right now, in the middle of a pandemic? does this help musicians? with facebook and

snap definitely help the record companies. this is a source of revenue that they were just not getting before. the snap deal is certainly smaller than the facebook deal that precedes it. told, it helps offset money they are not getting from selling physical albums and all sort of money that is not coming in right now. emily: all right, lucas shaw, thanks so much for your reporting on this. coming, we are just three short months away from one of those critical elections in our lifetime, the u.s. presidential election. we will talk to a former cia officer about how safe our election is and can be. we are standing by for the president to give another news briefing. we will take you there as soon

as it begins. this is bloomberg. ♪

emily: welcome back to bloomberg technology. i'm emily chang. the u.s. presidential election is now exactly three months away to the day. but with more mail-in ballots than likely ever, seeing that we are in the middle of a pandemic, how safe will the election be? will the integrity of this election be a protected? joining us to discuss as a visiting fellow at cornell tech's digital life initiative at a former cia officer and the former head of election integrity at facebook. so nice to have you with us and

interested in hearing your thoughts. this will obviously be a big election, unprecedented election given the number of mail-in ballots we are expecting. what are your biggest concerns as we move into this election now three months away? >> my biggest concerns -- there are so many. i would say the few i focus on the most -- on the one hand, especially now that we are in the middle of a pandemic and everyone is home more than ever and everyone is relying on the internet more than ever is how much this will play out on social media. distress will be sown in the process. how much confusion intentionally sown by some political operatives. that is a big concert in terms of how people will trust the election, trust the process, trust the outcome. of course, separately, there a big concern about how mail-in voting is going to work, especially when we have a

president who keeps tweeting and posting about how we should entrust that process. these are some of the biggest concerns about how to help ensure we still have an election that we can trust and that is not manipulated. emily: counting the ballots is going to take time, so we may not know who wins once again on election night. you recently participated in a wargame simulation, a contested trump and biden election. you played the role of social media. what did you learn from that? yael: that was really interesting. an organization called the transition integrity project. we really broke up into camps. some people played biden, some people played trump. a lot of big republicans and democrats played social media. we went through different scenarios, what might happen. it was a november 3 onward

scenario planning and what might happen if it is a close election , what might happen if biden or trump wins by a lot. for me, playing the social media role, part of what really concerned me was while a lot of the political operatives were thinking in political terms and thinking about how past elections have gone and some of the scenarios that might go wrong, i think a lot of the element of how this plays out online and on social media was a bit more concerning. at least, to me it was. you know, what's interesting is normally -- my background in terms of my national security background, you always plan for the worst and hope for the best. you go for the absolute worst case scenario which is close, contested election, no results for weeks. possibly, according to some of the scenarios, a president that refuses to concede. things blow up on social media. nobody knows what to trust. then, you build out all the ways to mitigate against that, as

opposed to just saying there's no way that's going to happen, that is too extreme. i think this a lot of concern from a lot of different people that we could get to a point americansmber 3 hits, are fairly used to getting there election results on election night. it takes a few weeks between counting the mail-in ballots and trying to keep people calm. meanwhile, we continue to have political operatives, including our president, tweeting and posting on facebook that it has been stolen, it's illegitimate. trying to call on some of his supporters to go out on the streets. this a lot of really potentially scary scenarios. to,y: now, as you alluded facebook is an incredibly important player here. the integrity of the election on facebook. you have worn a lot of hats in your career. you have been a national security advisor to vice president biden. you work for the cia. you said the most difficult job of your career was working in

elections integrity at facebook. tell us about that experience. i know it was short-lived. you worked there for just six months. what was that experience like and what did you learn from it? yael: sure. i don't know i would say it was the most difficult. i definitely had much more challenging time in the national security world but it was difficult to try to bring the type of analysis i would have been bringing which is really looking at what are the key issues, what are the systemic issues? why is our platform being by russian and foreign operatives and now we see the same thing with domestic actors. what can we do to make sure this doesn't happen? the reason why it was really difficult is that i come from a world where you plan for the worst case scenario and you go through every step of trying to mitigate to make sure that scenario does that happen. with facebook, if i would when i

tried to highlight plans for combating voter suppression in political advertising, the answers we get back are very tech driven. what is the scale? are we already seeing this on the platform? i kept trying to ask played i am projecting what might happen so that we can ensure we are protecting the platform and americans against this possibility. it was a fairly reactionary. it was there is a press scandal right now over x, y or z, what can we do to make sure something we can scale globally and that is not what's going to protect against the real threats we are talking about now. emily: ok, we have to leave it there. let's listen into the president. pres. trump: information on our response to tropical storm isaias. very interesting name. last week, the storm hit puerto

rico and the virgin islands. i have issued emergency declarations to support both of those areas. passed justhe storm east of florida. got a little bit lucky, it did not hit florida too hard. working with everybody, but it did not hit directly as a lot of people thought it might. it's currently off the coast of south carolina heading northward to north carolina. it is excited to make landfall sometime this evening as a category one hurricane. really serious, and water coming from that storm. i've already issued emergency declarations for florida, south carolina, north carolina, and fema's personnel -- they are great. they are already on the ground in all areas, every single area we mentioned is covered. over the next several days, there is expected to be heavy wind and rain and the coastal areas of north carolina, virginia, maryland, delaware,

new jersey. working with each of those states and in particular as it relates to fema, the military, law enforcement, and all of the different groups that are involved. storm surge and inland flooding are possible, and everyone needs to prorate -- needs to remain vigilant until it passes. i encourage everyone to follow the guidelines of state and local authorities. we are working them and i think the guidelines have been very accurate so far so stay safe. next, let me provide an update on the path forward for our country as we continue our war to defeat the china virus. we are beginning to see evidence of significant progress nationwide. the number of positive cases has declined by nearly 6% from the week before and the positive test rate has also dropped from 8.7% to 8% over that same time. an encouraging sign. very encouraging that the virus

is receding. in hotspots across the south and west, we have seen slow improvements from their recent weekly peaks. arizona's weekly case counts have dropped 37%. that is a tremendous job from the governor that the state has done a tremendous job. texas tech 18.7%. in florida, 21.2% drop. that is a tremendous job that they are all doing. as we continue to contain the virus in these states, we must focus on new flareups. up in the states the case numbers have risen including georgia, mississippi, tennessee, missouri. i think you will find they will soon be under control. 18 states continue to have very low case numbers and low test positivity rates. under 5%.

alaska, connecticut, delaware, illinois, maryland, massachusetts, michigan, new hampshire, new york, north dakota, oregon, rhode island, west virginia and wyoming. under 5%. even in these states where the virus is under control and at very low numbers, americans should continue to be vigilant and be careful in order to prevent the new hotspots from opening up or any new hotspots from opening up in those states. to that end, i urge all americans to continue to socially distance, wash your hands, wear a mask when you cannot avoid crowded places. and to protect the elderly. very important. tech the elderly. much different. young children have strong immune systems. but protect the elderly. the average age of those who succumb to the virus is 78 years old. that is the average age greeted

it is important for all americans to recognize a permanent lockdown is not a viable path forward. producing the result that you want or certainly not a viable path forward and would ultimately inflict more harm than it would prevents. as we are seeing in foreign countries around the world where cases are once again surging, you have many places where we thought they were under control -- and doing a great job. this is a very tough invisible enemy. lockdowns do not prevent infection in the future. they just don't. they come back. many times, it comes back. the purpose of a lockdown is to build time to build capacity in respects to hospitals. learn more about the disease and develop effective treatments as we did in the united states. well with the vaccines and therapeutics. countries that have had

significant flareups over the last period of time are spain, germany, france, australia, japan. as you probably heard, in hong kong, they've had some serious flareups. japan has gone -- a lot of, sixfold flareup. that's a lot. but they will get it under control. in our current phase, we must focus on protecting those at highest risk while allowing younger and healthier americans to resume work and school with careful precautions. ideally, we want to open those schools. at the same time, we are placing an emphasis on continuing to drive down the mortality rate with improved care, treatment and medical interventions. building a bridge to the introduction of a vaccine. the vaccines are coming along incredibly well. today, i would like to also provide an update on the actions of my administration. and the work that we have done.

we're taking, really taking increased interest and seeing numbers nobody could even believe in terms of percentage increase. telehealth for american patients , the percentage increase is being worked on right now but it is very significant. numbers you would not even think possible. this has been a priority from the beginning of my administration when we launched an initiative to allow veterans to connect remotely with their v.a. health care team. and it worked out really well. we have a 91% approval rating in the v.a. it is the highest ever recorded. now telehealth is a critical part of our path forward in the v.a. and becoming a critical path, especially with our senior citizens. you don't have to go to the doctor's office, you don't have to go to the. i took immediate action to illuminate regulatory barriers

to telehealth, making it easier for patients to consult with doctors from safety and convenience and really, they have great safety and great convenience, right from their homes. today, i am taking action to ensure telehealth is here to stay. moments ago in the oval office, i signed an executive order to make many of our regulatory firms permanent. we have done regulatory reforms that have had a tremendous impact on what we are doing on medicine and medical and what we are doing. they can do things you wouldn't believe that even a year ago, two years ago would not have been doable. we are enshrining the right of american patients to meet with her medical providers in a way that is best for them and very convenient, and very talented people on the others, i have to tell you. the order builds upon a series of actions we have all taken to make telehealth available to all. we ensured that medicare

coverage telehealth visits at no additional cost. no additional cost. copayments can be waived for telehealth services. we are working very hard also on prescription drug prices and i the clause i that signed into existence, nobody thought anyone would do that. and has a massive impact on prescription drug prices. in addition to the three other elements of reduction of drugs. particular prescription drugs. but it is massive. for $.10y buys a pill a pill, that is an example, and the united states pays two dollars for the same pill, we get the same privilege, the same right as they do. never had that before. we paid all of the expenses, the research and development.

the numbers are astronomical. , big adsobably noticed taken against me by big pharma. they are calling and want to know if they can make a deal. i say to people the only reason these ads are being taken is because prices are coming down for you. they understand that. i think our people understand that. in particular, when you look at the matching, call it whatever you like, it is a tremendous, going to have a tremendous -- i am talking 50%, 60%, 70%. there is comes up and ours goes down. you have many countries where the numbers are so low. by that, i mean much lower than the united states. under thing i am doing is if a certain country like canada,

canada buys for much less than the united states, how they allowed this to happen, representatives of our country, standing at these podiums or in the oval office, how they allowed to happen is incredible. we have been working on this for a long time. i have been talking about it for a long time. now the governor like ron desantis of florida is doing a great job. great governor of ohio, great governor of any state can call up and buy the drugs directly from canada at sometimes 50% less. we will be buying from canada. maybe they will raise them, maybe they were lower them. maybe they will sell directly much cheaper. a lot of things are happening. we have people that are very wealthy that nobody ever heard of them, nobody knows who they are. i guess in some cases they could be pharmacies and other cases they are individuals. the rebate goes to the people

that lowers the price of drugs. we have a series of four things that will be signed and we will see over a short amount of time, drug prices will be tumbling down. and 51 years, the only time prices came down where's during this administration. it was last year. small decline. this is a massive decline. i was called by senators, by congressman. please do not do this. pharma doesn't mean anything to me other than we want them to do a great job. we want them to get their vaccines. we want them to do what has to be done. i think you will see price reductions over the next 5, 6 month. probably take a little while to kick in. they will be a numbers you wouldn't believe.

they called on friday afternoon, they want to meet and see if they can do something else. i understand that. we have expanded coverage, allowing medicare to cover more than 135 new services through telehealth. including physical therapy, emergency department, visits, mental health counseling, substance abuse treatment which is a big priority. substance abuse prior to the china plague, whatever you want to call it, we brought it down very substantially. pediatric critical care, much more. thanks to our actions an estimated $2 billion of additional funding, we will support medicare patients receiving telehealth services. a very big priority on telehealth. as part of the cares act, we secured $200 million to support health care providers and hospitals expand their telehealth and they are all doing it gladly.

prior to the epidemic or the pandemic, whatever you want to say and how you want to refer to , therior to the pandemic telehealth was fine but it was not anything raging. i guess one of the only good things we have gotten out of this whole horrible situation is telehealth has been incredible. many, the increases are hundreds of times greater than it was before. you have a number? it is like 2000% or something like that. an incredible increase. you will get the number but i think they have it now finally and it is incredible. thank you. we worked with the leaders of major health insurance companies to ensure coverage for telehealth visits related to coronavirus. we cut red tape to allow many services to be conducted by phone rather than video which is much simpler.

providing an easier option for seniors. 35% of the medicare beneficiaries who received telehealth services, over 3.6 million caesar's -- seniors, did so over the phone. 3.6 million seniors. that is something. medicareion beneficiaries have access care through telehealth since the beginning of the pandemic. you are talking 10.1 million people. in april, over 43% of all medicare primary care visits were done via telehealth. inpared to less than .1% february. those are part of the numbers i think. this part, you will get the other section. thank you. compared to less than .1%. that is an incredible number.

and 43% of all medicare primary care visits were done via telehealth. went from .1% to 43%. that is an incredible number. the executive order i signed today will also expand health care access in rule america. we take care of rule america. it directs agencies to deploy strategic investments in our rural communications infrastructure. we are working very hard with all of the people in government that are involved with the communications infrastructure so that the telehealth gets very quick and easy access. uraltionally, revenue for r providers make it difficult for many to stay in business many are having a very difficult time. myhelp fix this problem, order will create a voluntary payment system that will give

hospitals great flexibility and a more consistent income stream to better serve their patients. furthermore, i am directing the department of agriculture department of health and human services and the federal communications commission -- we were just with the heads of each one in the oval office just before i came up to the podium. to form a task force that will break down barriers to expanding rural health care. $165 millionnearly through the cares act to support nearly 1800 small hospitals who have done an incredible job, as well as $11.5 million to expand technical assistance for rural and underserved areas. we allocated another $10 billion rural000 hospitals and

health clinics. we waived burdensome licensing certification and registration requirements which took tremendous amounts of time. these are people that had great reputations and great track records for practitioners that serve on the front lines in rule areas. allowing more medical personnel to serve. we are also, in terms of ppe, ensuring that the state and local areas have the supplies they need. we have been supplying hospitals and cities and states, governors, helping governors at a number no one has ever heard of before. homes have nursing received a second shipment of personal protective equipment. they are very much stocked up. they are in great shape. they all have the ventilators. they have more than they need. there medical equipment is in very good shape.

has workedration with the private sector to deliver over 100 million n95 respirators, 85 million gloves and newly hundred 50 million face coverings nationwide. we continue to make the extraordinary progress that we have been talking about together on vaccines and treatments under operation warp speed which is very exciting. distributed 2900 79 cases of remdesivir which is proving to be extremely powerful and good. enough to trade more than 19,000 patients with great results. this includes 500 cases per florida, 500 for texas. arizonaohio and 150 for and georgia. those numbers will be going up rapidly as we move along. hospitals are reporting an adequate supply of steroids such

that are used successfully in late stage illness. they have been very good. we also are very encouraged about the prospects for therapies. we are working on that. that is a brilliant arts. we launched a national drive last week. i was at the red cross building. and 13 other health care organizations. i urge everyone who has recovered from the virus to go to coronavirus.gov. and donate plasma today. we would really appreciate it. this really makes people better. need thated is we beautiful ingredient that you that got better seem to have in your veins. you have to go to coronavirus.gov and donate plasma today. we really appreciate it if you do it because we are low.

we could help a lot more people. it would be a terrific thing. everybody would be very appreciative. it makes people better. you have something very special. it.ant to be able to use whatever you can do. as a result of improvements we have made and treatments for americans over the age of 18, the mortality rate has declined 85% from its april peak. 85% decline. on vaccines last week, we announced a partnership with santa fe and gsx to purchase and doses of00 million their coronavirus vaccine. 100 million doses. this is the six vaccine candidates we are proactively supporting. we are supporting numerous companies that are doing very well. have a wonderful results and

they are in final stages of testing. they are now two vaccines in that final stage of clinical trials in america with a third vaccine likely to begin phase 3 almost immediately. we have additional clinical trials scheduled over the next few weeks for a couple of other companies. these are great companies. these are companies that are not only well-known, they are well respected. we are balancing speed and safety and we are on pace to have a vaccine available this year, maybe at the end of the year and we are mass-producing the most promising candidates in advance so we are ready immediately upon approval. it is logistics. thingsliver a lot of including soldiers but now they will be doing vaccines and the general is ready to go. once we have the vaccine approved, fully approved, he

will start the process, they will start the process. they will get it out quickly all over the country and even beyond if it works as we think it probably will. by unleashing america's technical and scientific really and's, we will end this pandemic and we will hopefully ended very quickly. the therapeutics are very exciting to me where you can go into a hospital and whether it is through a shot or a transfusion, take care of somebody and they get better. that is something to me. very important. we are doing very well on therapeutics and very well on vaccines. thank you all very much for being here. we will take a couple of questions. first, have you been briefed on the incident off the coast diedlifornia where marines in a training accident? pres. trump: they everything me are little

briefing me in a little while. it is terrible. we will be in contact with their families. the city prosecutor confirmed a criminal investigation. pres. trump: this is just a continuation of the witchhunt. democrat stuff. they failed with mueller. they failed with congress. they fail at every stage of the game. this has been going on for three and a half, four years, even before i got in. this was starting with the mueller deal. mueller started a little after but it started with some of the people you know very well, the names. page. all of the different people, comey. this is a continuation of the worst witchhunt in american history. and there is nothing that i know even about it. i have seen that t