she even beats her insurance price. good for you kate, good for you. goodrx, stop paying too much for your prescriptions. download the free app today. emily: i am emily chang in san francisco. this is "bloomberg technology." lawmakersan group of propose a $908 billion stimulus package. president-elect biden saying it is just a down payment. this as a new stay-at-home order is issued in san francisco and other bay areas.

[no audio] year. the start of the he will give us a report card on how remote learning is going across the nation. of ceo says he is sick talking about microsoft. he joins us to talk about salesforce and the deal and plans to spell -- dispel the myth the competition had anything to do with it. reiterating the new stay-at-home order in the san francisco bay area taking effect january -- sunday through january 4. it is different from intensive care thresholds. businesses will be taking a hit with new restrictions and workers still looking for relief from washington. there were good signs today that lped smooth thehe markets.

it meansoolittle, closing all dining and gatherings with anyone outside your home through the holidays. as a san francisco resident, this will be happening as of sunday. are you seeing any moves in the market? abigail: there are small declines in s&p 500 futures, very small moves off the record high of the day. i am sorry for the difficulty you and family and friends might be suffering. largely priced in. down&p 500 spider proxy about 2.5%. on the day, record highs for the s&p 500 along with the nasdaq 100 and russell 2000. all sizes and shapes of stocks were higher on the date. this has to do with the jobs report which was worse than 50%cted, missing by almost and down from the month before by more than 60%. but the idea is because of the

payrolls report, that means stimulus will be on the way, or that is what folks are hoping for. record high for stocks. there were big movers including up 14% this week. they brought up the pricing for memory. the storage company put up a strong quarter. revenue -- on mikal mikal revenue -- macau revenue. overall, a risk-on weekend. emily: thank you so much for breaking it down. really appreciate the update. have a wonderful weekend. back to our top story. the stay-at-home order across the san francisco bay area

sunday through january 4. all eyes are on d.c. tonight on several fronts. it looks like stimulus package will clear congress. there is a growing fight over a defense bill in section 230. the biden transition team making more progress. here to break it down is laura robinson. a lot of folks will be impacted by the new stay-at-home order and want to know if there will be more money in their pockets. what is the latest? capitalare at the trying to come up with the plan. the question is if they can do it before the christmas holidays. the deadline is december 11. the federal government runs out of money. they are hoping to attach stimulus measures to that bill. that timeline is already slipping. lawmakers are talking about is from two weeksek

from now. ont allows them time sticking points. democrats want money for state and local governments. republicans have said no. that is one thing they are working on. the outstanding issue is the plans being discussed do not have any of the $1200 stimulus checks. some republicans and democrats are talking about that. all of that has to be worked out in the coming days. emily: let's talk about this defense appropriations bill. president trump threatened to veto it if it did not include a provision to abolish section 230 for social media companies. it sounds like that threat can be overcome by the support in

congress. what is the latest? in the house says he believes there are enough votes if president trump were to veto this because of the section 230 inclusion. they could pass it without president trump's approval. we will see. it looks like that will come up for a vote on tuesday in the house. the senate will follow. we will see what the president and congress does to respond. this is happening on the backdrop of stimulus, government funding. there a lot happening in the capitol building next week and a lot could go wrong if it takes longer than expected. emily: tell us about the progress the biden transition team made this week and what you expect next week. a number of cabinet positions filled but a lot still open, including attorney general. players,ief economic

those positions have been filled. he also made progress in terms of medical advisors. that was the biden transition's number one priority, to have people in place to be talking to current people about the plan for a vaccine rollout. a lot of news about approvals and distributions starting. that is important. that is their focus going forward in the next week. we could see more vaccine approvals and is to be in plans. emily: when it comes to vaccine plans and approvals, pfizer is meeting with the fda and health officials on december 10. in moderna on december 17. optimistice very those approvals will come through. it has already been a lot of

concern on the political side. he would be willing to take the vaccine live on tv to instill confidence. the scientists seem to be optimistic. there is a lot of concern about bringing the public on board that this is safe and effective in something they should take as soon as it is available to them. emily: a lot on tap next week. thank you so much for those updates. moving onto deals. one took the spotlight this week. that is salesforce agreeing to buy slack for $27 billion. some questioning what it means for slack going forward. i am and will remain the ceo of slack. emily: will you become one of salesforce's presidents? >> i believe so.

interview earlier with the slack ceo stewart butterfield. more of that conversation coming up later. a blockbuster quarter beating estimates as the work from home quarter extends around the world. we will hear from the ceo about what he thinks the tailwind will mean for longer-term growth. this is bloomberg. ♪

docusign has benefited from the digitization of signatures and agreements that came with remote work. the company reported strong third-quarter results sending

shares up 12%. joining me to discuss whether the growth sustain post-pandemic is dan springer. we are nowhere close to being out of this yet given the latest stay-at-home order in san francisco. i know you live in san francisco. your office is in san francisco. what is your reaction to this new order and things perhaps getting worse before better? >> it is hugely disappointing. 5000-plusgn's employees have been working from home since march. we would love to get back in the office. given the situation and health risk and situation with hospitals, i think it is prudent to be cautious. i will be supportive of going another chunk of time being extra conservative. it is not fun, but it is medicine i would rather take now then the much worse potential we

could have from the pandemic if we don't nip it in the bud now. emily: is a trend happening anyway, the digitization of signatures and agreements and should continue to happen. how much has the pandemic accelerated your world? will this growth continue when there is a vaccine and you can go back to the office? >> i am looking forward to that as much as you are. my view is docusign definitely got a tailwind in the first part of the year. we saw there was an acceleration and demand, particularly for e-signature, the flagship product. what we have seen now is that translates into people saying this is fantastic to transform my business and they are finding more use cases. turbocharging will not let up. we will continue to have high growth going forward. post-covid does a

normal world, new normal i am sure, actually look like to you? i am sure there's a lot of demand. this is a trend that will keep accelerating. but does that slow down? >> acceleration is substantial having growth sick 2% the last .- 60% the last three quarters growth is unprecedented for us. going forward, we think we will maintain very robust growth. the customers we have brought on are looking to accelerate the model and do more with it. we are seeing our net retention rate shot up to 120% reported yesterday, the highest we have ever had. existingh from our companies is also celebrating.

those factors give me confidence we will see continued high growth for many quarters to come. emily: you have a partnership with slack. slack users can use docusign without leaving the platform. salesforce just bought slack for almost $20 billion. what is your take on the deal and if it will mean more consolidation? >> it was a big deal for sure. we are close to both companies. literally, we are close to them. docusign headquarters are two blocks that way. we are customers of slack in salesforce. they are both customers of docusign. salesforce is one of our strongest partners and an investor in the company. we feel really good about both companies. i think it is an exciting space.

if you asked me a year ago if we would see deals in the $20 billion plus for companies like slack, i would not have guessed it. i think it is a fantastic deal. salesforce will be a fantastic home for them. i think it is a lot of positives. emily: will there be more consolidation in the enterprise software business and consumer side as well? >> i think some. i think the construct of a lot of cash on the sidelines, a lot of demand for growth, the enterprise space has had dramatic growth. gotten to levels we have never gotten before. i think there was a concern m&a would not happen at these highest levels. there is one data point that suggests they will based on the steel -- this deal.

i am not a financier from that standpoint, but my assumption would be we will probably see with peoplea making more comfortable that move looking at the multiples saying the water is warm and jump in. emily: there is increasing interest in the biometrics part of the business given the pandemic. we have seen biometrics accelerate. what is your take on biometric security and how that fits into your business? >> biometrics is an example of our overall construct of identity. one of the biggest challenges from a security or commerce standpoint is you have to figure out who is on the other side of the keyboard, so to speak. i think identity will be big. i think biometrics will be

important. in the late 1990's when we return to figure out how we were going to build our business and how a financial services company could leverage i am metrics, we started talking about what that would look like. 20 years later, we have not progressed much. unlocking vehicle to take us to the next level or will people take the existing things we used to identify email or second party authentication, is that sufficient for business? will that be the mode to go forward? i think it is still unclear. we want to be in all those games. we are looking at all the ways we can leverage identity to ensure our country -- customers will have the full suite of options. emily: interesting. docusign ceo dan springer from the lonely san francisco office.

appreciate you coming in for this. thank you so much for joining us. coming up, another work from home when her -- work from home when her -- winner. the ceo joins us next to share his outlook. this is bloomberg. ♪

companynother tech seeing it has entered this holiday season in a stronger position than ever. demand has been lifted by people seeking to upgrade their work from home set up. will that keep up when people return to the office in the future post vaccine? joining us is the ceo who is the latest guest on our series. i know you have some deals for black friday and cyber monday. what kind of activity did you see and how does that compare to

more normal years? >> we cannot really talk about what is going on this quarter since we are still in the middle of it. , it has been difficult for the world and our employees and everyone else. it has been a strong quarter for us. many are working from home for the first time. it has been eight rewarding time. our business was up 75% last quarter. not bad for a 35-year-old company. it has been really powerful. we see that trend continuing through the year. emily: i remember my first computer attachable camera, and i believe it was from logitech. what products have been most popular? what has been flying off the shelves? >> we have been really lucky.

i would not say flying off the shelves. i would say flying from amazon through the air to get to people's homes. we positioned our portfolio behind four secular trends. the move from every audio call becoming a video call. .he move to e-sports the work from anywhere trend. and the trend for everyone to create. creators like you, me, kids, and individuals, to create more content. that is happening. we are the enabler for all four of those. the trends are huge and touch all those categories. our microphones are virtually sold out. our webcams are virtually sold out. we have done well with keyboards. we have done well in almost every one of our categories.

emily: what happens post-covid when we all feel safe enough to go back to work and we don't need extra stuff at home? how does that impact your demand moving forward? >> it is exciting for us. everybody wants to get back to work. they want to get back to socializing. we are excited about that. these were not short-term trends. they are long-term trends that we expect to continue. people who go back to work, our view is they will work more from home then they used to. home is stillt going to be important. i think a lot of people are like me. we know they are. i have a desktop set up. i have not gotten it optimized yet. i have two or three in my house. if you have kids in school or a

spouse working, you have multiple setups that need to be upgraded. all of those are opportunities to upgrade with a bigger installed base. now it is the home and office. we are optimistic going forward. emily: i spoke to the president of dell yesterday. he said we are seeing a renaissance of the p.c. is that how you would describe it? >> i think the p.c. continues to be central to our lives. aat apc is has changed -- p.c. is has changed. it is now a carrier for cloud services. you are working in the cloud. you're working something in front of you but connecting in the cloud. we view all we do as peripheral

to cloud services. the p.c. is the stop in between. i think the renaissance is the cloud and the p.c. is the benefactor. emily: you have a universal remote that can control more than a dozen different things. i wonder if staying at home and the rise of streaming means those are live through the air as well. >> we have done well in everything. if you talk about the rise in streaming, we have so many people being so creative. our microphones and web cameras have exploded as people have youtuberstokers and and podcasters. it is exciting. emily: it is huge. you definitely see the rise of human creativity thanks to all this technology. logitech ceo, thank you for

joining us. coming up, the slack cofounder and ceo. i spoke with him about the deal with salesforce and what it means going forward. this is bloomberg. ♪

heaven.arriage made in we could not be more excited about this combination. >> this is good for slack investors. salesforce arend great partners of hours. we are excited. i think it is great those organizations are coming together. >> i continue to believe this is the right move for salesforce. it is hard to argue with the success and strategy. >> the digital world and especially the digital world of

customers, slack is going to be literally the icing on the cake making everything better. metaphors forf salesforce ceo earlier this week talking about salesforce and their mega acquisition of slack. earlier today, i spoke to the slack ceo stewart butterfield and asked how he would describe the buyout. >> the key message is there is an opportunity for something nonlinear. it is not just that we have software and they will sell the software. of course, we will also do that. they are a strong leader in crm and customer success and support. that is at the core of any company's operations. , witht those together

productivity improvements, and simplifying work, but making it more effective and aligned, i think there is a unique synergy between the companies. emily: who will you be reporting to? mark told me it is up to brett to decide. >> it is up to brett to decide. is i willant thing remain the ceo of slack. emily: we become one of salesforce's presidents? >> i believe so. slack is a beloved product. you and i have had many conversations as everyone started working from home. since the listing, the stock has languished compared to other work from home stocks. i know you are trained to tell me you don't care about that. i am curious about how much that

wait on you and if it played into this deal at all. >> of course i noticed. i don't think it played into the deal at all. one thing that might have gotten lost because we announced the deal at the same time is we just came out of an incredible quarter. we grew customers by 140%. that is the heart of the business. that leads to future billing and revenue. with growth, part of that is increasing awareness of the utility of the products. coming from the pandemic and working from home, but a lot of it is improvements and helping people get started. the big force of that is the ability for organizations to communicate across boundaries.

240%. there are now over half a million connected in points -- endpoints. it is incredible opportunity to work on the next generation of applications when you can work across traditional boundaries. emily: what you make of the this this was done -- deal was done because of the increasing threat from microsoft? that they were starting to beat you and customers and perhaps the smartest way forward was to tie up with another giant? >> i think that narrative will eventually be dispelled. personally, i'm sick of talking about microsoft. to be clear, we have a strong business worldwide. u.k. in europe are very strong. u.s., largest issuer of

credit cards, slack. of the fortune 100. operate thes largest integrated health system. i could go on this list forever. toave given up trying explain the empirical facts because there articles about the competition i am unable to overcome. emily: you recently built a company from the ground off. marc benioff started his company 20 years ago. what is your advice to them going to be to keep innovating and stay nimble? >> great question. us and thefor

combined entity is the savings for customers. it is leveraging technology to take advantage of our newfound end-to-end digital transformation. let me give you one concrete example. accounten, our executives ask for help from executives with a customer. they want me to send a memo or have a meeting. executive asks someone to get stewart to send a memo. it gets to me and i ask them about the customer. the account executive puts all of the information in it. that structure not only saves minutes here and there, it creates a lot of clarity.

emily: my conversation with slack cofounder and ceo stewart butterfield. coming up, a new stay-at-home order has been issued for the san francisco bay area and more. what does it mean for schools and remote education? next.s this is bloomberg. ♪

online education coursara is said to be weighing an ipo. while no decision is final, it begs the question of the valuation of distance learning amid a pandemic and beyond.

a new stay-at-home order has just been imposed on the san francisco bay area effective sunday. the county believes there is the step.or a more effective under the governor's orders, schools over the open can remain open. it remains a setback to kids getting back in the classroom. joining me now, ceo and founder of khan academy, sal khan, who was closely following how students are doing and sees many students on the platform himself. i have to get your reaction to the new stay-at-home order. it is not apply to schools right now. many schools, including my own, never reopened, and now cannot reopen. what is your take on this is the pandemic drags on? >> it is tough. it has already been a tough

year. my children's school, which i am on the board of, they were starting to kind of reopen for the youngest kids and were already planning for the thanksgiving christmas break to not do physical school. now because of the new stay-at-home order, that makes more sense. what we are seeing in the data is the kids who are able to engage online are actually keeping up for the most part. what i worry about is the things the assessments are not assessing, which is social, emotional well-being, emotional elalth, how well they fel connected to their peers. that is getting lost right now, especially with younger kids meeting to learn to make friendships and work with others. emily: what is the data we have? i understand for math in particular, you are seeing math decline by five to 10 percentage points. is that a subject more difficult

to teach online? >> this comes from fairly new data from the northwest education association around an assessment they provide which measures how much kids grow. what they are seeing is reading surprisingly has not degraded so much. during summer vacation, we have a summer slide. covid, people have been predicting larger affects. but when you look at the assessment, it looks like reading has been reasonably ok. math has degraded more. there is a koepka where the kids -- a caveat where the kids they are assessing now are different from the kids they were assessing last year. rosier thanht be the actual picture. even when you are able to close digital divide issues, there are 5% or 10% of kids disengaged and not getting assessed.

those are the kids already behind and probably falling further behind. point, vaccines have not been tested on children. dr. fauci says it will be months before there is a vaccine available for children. be until thekely end of the spring. given the remote learning situation will be continuing across the country until then, what do you think the learning gap at that point will look like? >> a lot of people talk about k-shaped recovery in the economy. i think we are seeing something where thoseducation able to engage in their kids' education -- [no audio] emily: it looks like we lost sal khan momentarily.

we will try to get him back for you. sal khan, founder and ceo of khan academy, his opinion and perspective we certainly value the activity with children happening in their platform. more to come on "bloomberg technology." after this break, troubles with trump not over yet. facing allegations of discrimination against u.s. workers, facebook in the hot seat now. we will discuss next. this is bloomberg. ♪

back now with khan academy founder and ceo sal khan. we lost you for a moment. given it is looking like we will be in this remote learning situation at least through the spring, at that point, how big does the learning gap look to you?

it looks like we are still having issues, unfortunately. we are going to move on to another story as we try to get him back. the trump administration says facebook is discriminating against u.s. workers by designating thousands of positions for foreigners with temporary h-1b visas, this coming after judges -- we have sal back. hopefully, we have you for a few minutes before you disappear again. how big do you think the learning gap will be by spring? >> it is a tale of two cities. the kids who have resources are doing fine and in some cases learning more because their parents are putting more resources behind it. 10% to 20% of kids will fall further behind. we have to treat this like disaster recovery going into the next school year to make sure we do not lose those kids.

emily: we have a new administration coming in. care aboutlks who the pandemic and the loss-of-life are also concerned about their children. what would you urge the biden administration to do? how do they balance the concerns around public health with the concerns around our children's future? one, thek, number vaccine you have already talked about. that makes a huge difference. if the teachers are vaccinated, it is a much lower risk for the kids and teachers. we don't know when that happens. march-april timeframe. the digital divide is crucial closing that. it will pay dividends beyond covid. really beginning to provide leadership on what distance-learning needs to look like, what parents and families can do regardless of how much support they are getting from their school district to ensure their kids are not falling too far behind. emily: would you advocate for

schools to reopen now, if teachers can get vaccinated and kids can't? at what point should schools be mandated to open backup? >> i am not an epidemiologist, but i have taught a little bit of it. i have been following it closely. my understanding is if the teachers are vaccinated, you have taken the major risk off the table. child spread with masks on is not well documented. i think if you do that and other populations are getting likelyted, that seems cost-benefit analysis for opening schools seems to go heavily in favor of opening at that point. emily: there might be a few folks looking up your epidemiology classes right now. talk about the activity you are seeing on khan academy as the

pandemic drives on, and your vision for the future. we will not always be in the pandemic. there will be some sort of new normal. what then? >> you can imagine the pandemic hit in march and schools were 250% towe saw traffic 300% of normal. we have been trying to keep up providing more supports for teachers and parents. we have boys had -- always had pre-k through college. i have a new effort with free tutoring. we can take several thousands of students for free tutoring. that is another layer of support on top of khan academy. we are doing anything we can to families and kids to keep learning. emily: do you think a significantly higher portion of learning will happen remotely even if we do go back to normal?

how do you think the education system will be fundamentally changed? >> well, we don't know for sure. there are some things i hope will be fundamentally changed. it is always value to -- valuable to have an in-person experience. maintainl classrooms hybrid learning capabilities, so if kids are absent they can keep learning. if i am in a high school that does not offer a course, that i still have access to that at another high school or on khan academy or at another high school across the world. that is the type of thing that would be a shame if we lose. the teaching best practices over conferences where teachers are making it more interactive, putting them into breakout sessions, mixing it up with active learning, that is a best practice whether online or in purpose -- in person. i hope that continues.

impetency-based learning, hope that becomes more mainstream, especially because we will need to fill in gaps. emily: one of the main things you will be watching through the next six months? you have talked about your concerns about kids' social and emotional well-being. what is critical over the next six months as things get worse before better? >> we need to make sure families have access to digital, especially if we are in a lockdown covid situation. on top of that, mechanisms to make sure that 10% of kids stay engaged. we have seen school districts calling kids to make sure they stay engaged. we are eager to work with the new administration or anyone to get the word out there are free tools available that are proven,

highly effective, to keep kids learning. khan academy is one i am very invested in. we are not-for-profit. we are funded by donations. i am not selling anything. emily: absolutely important for you to get that in there given how many people it is benefiting. sal khan, always great having you on the show. thank you for giving us an update and how our children are doing. the trump administration says facebook is discriminating against u.s. workers by designating thousands of positions for foreign workers with h.b. one visas -- h-1b visas. trump's broader agenda filling positions at u.s. companies with americans. tell us exactly what happened here. >> the trump administration says

there are many positions that facebook has simply not advertised for u.s. workers, instead only advertising them to foreign workers that would require h-1b visas. these are jobs the administration says that americans want and if americans were given the opportunity to take them, they would. facebook is denying allegations. they say they are working with the justice department. this is a continued saga over these h-1b visas. ofmp has banned a lot immigration that facebook has been against. this is really a crackdown coming at the end of his administration, which is really interesting. emily: how much of this is short-term pain? do you expect the pressure will be off as soon as joe biden is in office? >> i think if you look at what the obama administration did,

they were not very concerned about these h-1b visas. it is unclear whether biden's administration will hold the mantle. i expect a lot of changes at the department of justice. i think the biden administration has been more focused on antitrust issues for facebook and moderation -- content moderation issues. there are a lot of things the democrats want facebook to fix. this is not seem to be at the top of their priority list -- this does not seem to be at the top of their priority list. fory: sarah frier, thanks following that story for us. that does it for this edition of "bloomberg technology." "wall street week" with david withn is coming up next the reality of surging covid cases and vaccines. that is all for today.

i'm emily chang in san francisco. this is bloomberg. have a wonderful weekend, everyone. ♪

economyn uncertain meets the promise of a vaccine. the markets take the over on that vet. welcome to "wall street week." i am david westin. this week, larry summers, gillian tett, and stephanie flanders of bloomberg economics. >> many governments around the world have amount of debt higher than before. david: roger altman of evercore. >> we could see an extremely strong second half of 2021. and i.h.s.yorke markets.