and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. ♪ emily: i am emily chang in san francisco. this is "bloomberg technology." airbnb and doordash boost price ranges ahead of their public debut. doordash valuation would be double were rated in june. we take a look at how investor appetite is shaping up. slackalesforce and catalyze a wave of consolidation in software.

slack will be to salesforce what instagram was to facebook according to one analyst. apple planning a new set of chips to outperform intel, what it means for the next generation of macs, and more. monday in adropped surge of cases of covid-19. we expect to hear more about vaccine distribution as state start to outline doses, how many they will get and went. abigail doolittle with the latest on how it played out in the markets. >> emily, it was an interesting day. recent mondays we have had big gains on positive vaccine news. this week the vaccine will start to be distributed in the u.k., some expectation it will happen here next week. a down day for some of the indexes, the cyclical indexes. we had strength and the nasdaq 100 and other tech heavy indexes, putting a new all-time highs. nasdaq 100 up the ninth day in a

row, the longest streak back to december, 2019. that strength, tesla, unbelievable, up 7.1%, continuing to soar bite into when it is going to be included in the s&p 500 december 31. it is now a $600 billion company, up 660% on the year, just incredible. one question, will there be selling action once it is in the s&p 500? also strength at a vaccine maker by derrida. -- moderna. netflix is up without news, up 3.5%. possibly based on law down such as in california that netflix may see more subscription growth. a banner ipo year, the best since 2014. cracking action of 25%.

airbnb said to go public thursday. they raise the ipo range pricing, suggesting there strong demand. there valuation may hit $42 billion once public. doordash going public wednesday. they also up to their range. other names such as from holdings -- efram holdings. this is expected to be the record to summer for ipo's. a credible given the fact that this year. snowflakeent ipos, and palantir the direct listing. vstoxx going public in september -- up to hunter percent, these stocks going public in september are up 200% despite uncertainty. is that because these stocks are strong or because some believe the window could close in early 2021 if conditions get more difficult? lots of green for ipo companies.

we are going to talk about that now with our ipo reporter. bloomberg's abigail doolittle, thank you for that update. december is set to be the busiest year and on record for ipo's in the united states with doordash and airbnb expected to start trading this week, and long-awaited listings. both companies aiming to raise a combined $6.2 billion if they price at the top of their ranges. four more i want to bring in livers crystals the. we expect -- crystal. what we know? >> they have both seemingly got good response and that is why they have upped their range. haveb today announced they , they're going to go for a higher range and doordash did the same thing. we know they are planning to price and trade this week.

this is probably not the highest they could go come the valuation. due to regulations they can still price 20% above what they already have. so we could potentially see an even higher number for both companies. incredible to see airbnb and this position, after such a difficult year. the pandemic bringing travel to a standstill. $42 billion at the high end of the range would be fairly in-line with some sort of uplift, given what they saw in the private market. doordash is an interesting story, doubling their valuation to what they saw in a funding round just six months ago? how do the numbers backed up? doordash's pitch is that because of the lockdown they have benefited. theannot unite because of suburban footprint they are a beneficiary of covid.

and there are more lockdowns coming up, so looks like doordash can continue and that is how they are justifying this valuation, a baha'i 35 billion in the ipo. the same are -- of a high of $35 billion in the ipo. younb at a low now and if buy into the ipo you could see that when travel resumes when the vaccine comes, potentially in their future, you can see the airbnb shares go up substantially. really, you can have that story both based on where we are in the pandemic cycle. seeing both are have exceeded expectations. and they have a significant increase compared to their previous private valuations. emily: interesting. next week things are not going to slow down. onare looking ahead to wish,

the tech ipo pipeline. as well as a firm, possibly before the end of the year? today, filed, launched with her ipo, under the parent name context logic. a discounted online retailer, covid beneficiary, $17 billion valuation. not a small company for one that is just about to go public. we expect [indiscernible] an online game company. letshen affirm, which online consumers pay for goods in installments, internet companies. we expect all of them to come before christmas. hopefully, things quiet down at christmas and we think there will be some coming between christmas and new year's, because it is the busiest december ever. emily: bloomberg's crystal tse.

i cannot believe we will see ipos between christmas and years, but it has been -- and new year's, but has been here like no other. big news out of uber today, the ridesharing service selling its self-driving car vision to aurora, taking a stake in the startup, in exchange for investing $400 million in aurora. uber will get a 26% ownership stake. sources say the deal will value over $10 billion and create a larger competitor to the leader, waymo. it is a big surrender for uber that had made a big bet in self driving cars. coming up we hear from box ceo levy, on the deal that is salesforce plus lack, next -- plus slack, next. this is bloomberg. ♪

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demand for the cloud has rocketed in 2020 amid schools closing and workforce is going remote. in last week's mega dealt with salesforce and slack, i spoke with both company has for their take on what the deal means. >> it is a marriage made in heaven. >> the key message here is there is an opportunity for something that is nonlinear. >> this idea you would have the next generation work from anywhere environment, run some iphone, on my ipad, amazing what is possible for me here. emily: many people look at this as a defensive move against microsoft, what is your response to that? >> you can see salesforce has never been stronger. >> personally i'm sick of talk

of microsoft. emily: [laughter] not holding back. for more on the deal, and what is to come in software, box ceo aaron levie called slack, salesforce's instagram as instagram was to facebook. why do you describe it that way? is an imperfect analogy but the main point was, i think this is one of the most seentant m&a deals we have in many years, maybe ever an enterprise software. i think slack joining forces with salesforce is going to transform this part of the industry around the future of work and productivity software. what slack brings salesforce is this modern operating system for knowledge work. can connect the front office, the back office, customers,

partners. and have a common interface and be able to communicate and collaborate across those different experiences. it is transformational for salesforce and exciting for slack and great for the rest of the software ecosystem where slack is an open platform more software can plug into and create new experiences for customers. i think it is exciting all around. emily: doesn't mean we will see more consolidation in 2021 in this space? >> it is putting a bigger spotlight on what is the future of work? in the software surrounding the future of work? it is putting a bigger spotlight on the future of data and workflows across platforms. so i would anticipate more mna next year. i do not know if it is unusually high. maybe what we are seeing is more general awareness enterprise software is bigger than ever. the markets are bigger than ever. and there are more disruptive platforms than ever. that causes a frenzy were

companies do want to join forces and be able to go after these markets in a bigger way. emily: but i wonder if, given that we are seeing record potentially record multiples, the market keeps going up, if that slows the consolidation down? >> certainly, you have to be in a position like marc benioff, where he is able to make long-term bets on market trends. and be able to pay the kinds of premiums necessary. mark is uniquely able to do that. he has called these trends correctly and almost every stage of the cloud. so the market is really really to go along with those bets. not every but he can do that. frictionone point of for these types of consolidations in the future. but overall this is a bigger signal of how these markets are, even when we think about today in the u.s. or other key markets

for enterprise software. we are probably only 10% of the way penetrated anything about modern software like slack. you still have a significant portion of knowledge workers around the world that need to be using these modern tools in the future. as far along in this journey many of us are in, and some companies have progressed, we are still early in the potential of the market. emily: what you make of the competitive threat of microsoft? you heard stuart saying he is sick of talking about it. but it seems the threat israel. >> i thicken stewart's case slack is a different kind of product than some of the competitive tools out there. slack is an open platform for bridging together different software and different communication with partners and external vendors and internal employees. so there is not a perfect one-to-one comparison. slack has built something that is unique and disruptive,.

customers to use it in a different way. . the recognition of the market is slack plus salesforce is able to go after this market in a bigger way. we have to think about this market not in the typical zero-sum way other industries have evolved, where if one company wins another company loses. i actually think the markets are so large you're going to see growth from most segments of software in the coming years, simply because of how much of the world still has yet to be digitized. the amount of business processes that have knock on digital. the amount of workloads still in legacy data centers that will move to the cloud. the amount of knowledge workers using digital technologies to do their jobs in the future. for all these reasons we are still in the early days. i do not think we are going to see the same head-to-head competition maybe it seems like. emily: slack has made the contention microsoft is anticompetitive by bundling some of its features with the office

suite. i am sure this is something box has been exposed to as well. is that a complaint you would make in the same way? >> well, i think we are still very early in this idea of, what should the regulatory environment look like, for big technology? both consumer and cloud? we have seen a lot of attention in the consumer space. years, in the next few you need a stable environment and that u.s. political system to be able to accomplish this. we need to create what other modern rules of the road for the cloud and internet, and software delivered over the internet? i do not know if that is something that looks like net neutrality. but for cloud where you have rules around interoperability and choice customers can have. but we are still in early stages of trying to figure out what types of regulations and what kind of approaches we have two open marketplaces in the internet age. we are early in trying to define

what that looks like. we were just talking about how it has been a record year for ipo's. shocking when it seems the world was going to end six month ago. curious how your preparing for there will be a new administration, a new environment, potentially a vaccine. it is hard to understand why markets keep going up, and companies keep going out of the gate, but they do. >> certainly for the kinds of companies merging publicly now. whether the recent ipos like snowflake or upcoming ipo's like airbnb or doordash, it is a reflection of the excitement around digital technologies and the markets these companies play an. and the fact that they have been building out disruptive platforms for, in some cases, a decade. there's a lot of interest and excitement around what that future of these industries are, whether big data, hospitality,

e-commerce and food and grocery and delivery. so i think what you are seeing is a significant appetite on the part of public markets, for, who are the winners in the future economy, where things move more digital. there is obviously a large amount of capital available for investing in these types of businesses. so you have to appreciate, given interest rates, where dollars are going to be going in terms of where you get growth from those dollars. that is also a factor playing out. next year it would be great to have the vaccine rolled out as quickly as possible. to be able to open up the economy further in a safe and healthy way. things aresee what now back to normal and what things have been transformed forever. we are going to see a lot of things transformed forever. emily: we shall wait and see. box, very interesting to

see, as always, thank you. that isp, $1 trillion, how much the global economy is losing due to an increase in cyberattacks. that is not the only impact to this type of crime. the ceo of mcafee will join us to talk about what is at stake for our companies. straight ahead. this is bloomberg. ♪

emily: as people around the world continue to work from home on less secure networks during the pandemic, the cybersecurity from actively is saying it is seeing a large increase in the frequency and severity of cyberattacks on businesses. a new report, the hidden cost of cybercrimes, they find it cost the global economy more than $1 trillion, jumping 50% in two years. us, mcafee senior vice

president and ceo. how'd you get to that number, $1 trillion? >> it is about looking at all the indirect costs that impact cybercrime, from opportunity cost, brand reputation, impact to employee morale. if you add up all those costs as well as the cost to secure environments, that is where the model csis whom we partner with on the report got to that staggering $1 trillion number. activity youes the are seeing now compared to last year at this time, given that we are working from home and many are schooling from home and more work is disturbed and? >> a few things. first, on working from home, it creates soft targets for cyber criminals. you can think of everybody working from home as now being partly their own i.t. department. they're working on home networks, using consumer devices.

that makes it easier for cyber criminals to get into an organization. we are also seeing cyber criminals attack different. they used to attack a system or device. that we see them taking over an organization, which makes it more difficult, and more expensive, to know when they have fully been removed. emily: in cyberspace, the attacks are sometimes coordinated or happening in parallel to things happening at the government or geopolitical level. is there anything you believe new and incoming administration should be on the lookout for, given a state of where we are now in cyberspace and mid pandemic and still no vaccine yet on the market? >> absolutely. one thing the report goes into is, many countries failed to enforce cybercrime laws.

in some cases, such as north korea, we actually see the state itself is conducting cyber criminal activity to pay for things like their nuclear program. as part of the new administration, being able to have a discussion where, as europe tolerance policy for cybercrime -- where a zero-tolerance policy for cybercrime occurring in a country is key. also setting new norms. making it clear no government should tolerate theft of things like intellectual property, which is critical to our industry in the tech sector. mcafee is a newly public company, it got bought by intel then went public earlier this month. talk to us about what your priorities are going into 2021? >> in 2021, it is all about having a conference of defense for both the consumer and the enterprise markets.

in the consumer stays, we are having to protect the entire digital life of a consumer. it is not just about protecting their pc, but also working with them everywhere that they go. if they have been part of a digital breach, if they are using other devices. on the enterprise side, it is about recognizing the new technologies. so, as organizations move to the cloud, having strong cloud defenses. as we are working from home, having good cloud edge defense capabilities. it is putting all that together. as we have seen from this report, the problem statement is just a staggering challenge. and mcafee is right there to be part of the solution. mcafee cto,ight, steve grobman, thank you for joining us. cloud flare unveiling a set of controls that enable companies to keep data secure and

compliant with local law the matter where they do business. conversation with cloudflare ceo, matthew prince. coming up. this is bloomberg. ♪ in a land not so far away, people are saving hundreds

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- [narrator] compare prices to get the best discounts. - goodrx, smart. - [narrator] stop paying too much for your prescriptions. download the free app today. emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. the data localization suite is the world's globally distributed first network with regional controls that gives companies control over where their data goes and who has access to it no matter where they do business. joining us for an exclusive conversation is cloud flare cofounder, matthew prince. what does this mean if you are a business who uses your suite? matthew: what's important to start with is what happens with the typical cloud

infrastructure. if you are summoning a car service or ordering something from your favorite e-commerce e-commerceif that site uses the cloud, that is going back to one location in the world and by a large going back to somewhere like ashburn, virginia or oregon or a limited set of where data is stored. what is happening is that consumers are getting fed up and governments are getting fed up with all the data getting sent back liberty ash limited set regions around the world. so they passed rules saying if you are a business, going forward, you need to store the data of your customers in the jurisdictions where those customers live, work, reside and use your service and you can't transfer it back to virginia. the problem is that creates a real challenge for businesses because up until now, there has not been a cloud that allows you to do that.

what we are launching with the data localization suite is a way to use the network and keep the data of your customers in the regions where the customers live in order to comply with an increasingly complicated set of regulations around the world. day towill this change day business practices or how i experience my favorite businesses' products? matthew: i think what you are seeing from businesses themselves is they have a lot of pressure from regulators. we saw this with tiktok and pressure from the trump administration to keep data about u.s. citizens in the united states. we said this with facebook, which has said they will pull out of europe if they have to not send data about european systems back to the united states. over time, we believe businesses that are best going to comply with these regulations are going to use a service like cloud -- cloudflare to make sure consumers get a great experience and still get the efficiency of

the cloud and can comply with what our increasingly difficult regulations around the world. emily: how does dv pr potentially incoming privacy legislation in the united states impact this effort? matthew: about 76% of companies around the world are about to pass privacy regulations. nearly two thirds of the worlds population is covered by privacy regulation. the singapore government, the japanese government, brazilian government, indian government are all saying that you need to, as a business, to store customers' data local within our jurisdiction and keep it there. that creates a problem for businesses trying to be global.

that is what inspired us to launch this product. emily: what does this mean for cloudflare? does it give you an edge your competitors are not offering? matthew: i think most of the traditional public clouds, aws, microsoft azure google , cloud, they were built for a world where it's ok to send all that data back to some central location. what we see from our customers as they want to comply with these increasingly complicated regulations. because the network already spans 100 countries around the world, we are in a unique position to help our customers and businesses, but make sure they can service their customers wherever their customers are. emily: you are getting a lot of data coming in about black friday, cyber monday, how folks have been shopping over the last few weeks. you say cyber monday was bigger than black friday. how might the trends be different this year compared to

last? matthew: the general thought was cyber monday was when people went back to work and sat down during their lunch break and bought things on e-commerce sites where black friday was where we all went out to stand in line and go to walmart or target and buy whatever the latest deals are. we anticipated that would not change that much this year, but it was surprising. this year, we actually saw less e-commerce shopping on black friday and more on cyber monday, where as black friday has previously dominated cyber monday. so we are seeing shopping shift toward e-commerce and is being spread out over a longer time. last week was a record-breaking week for e-commerce traffic from everything we could see. emily: is this year going to be an odd year or are these trends

here to stay? will next year looks similar given new habits being formed? matthew: it's hard to say what's going to happen when we go back. i'm looking forward to shopping in person where as i have been very much and e-commerce shopper myself. i think now consumers have learned they can get groceries online and holiday gifts online and it is putting a lot of additional load on the networks to make sure they can accommodate that. at cloudflare, we are making sure we can stand up to whatever the christmas holiday brings. emily: as a business leader, how are you planning for 2020 one? we see this burst of ipos at the -- 2021? we see this burst of ipos at the end of the year that are going to happen between christmas and new year's. going into the pandemic, sequoia venture capital called covid the black swan of 2020 and warned businesses to lock down, but for so many tech companies, it has been a bigger year than ever. how are you preparing for next year? matthew: it has been interesting

to watch what has happened since the pandemic. the pandemic really hit at the very end of q1 and q2, we saw a harder time for our sales team to close business but our ability to expand with our existing customers was very strong. q3 saw a new business is realize that this transition we have made toward remote work is here to stay. we feel that there is a real strength in that transition. what the pandemic has caused, if not a radical rethink of how we work, but accelerated trends that were already happening. we see strength in the core shift to the cloud for services cloud flare provides going into next year. the main thing we are thinking

about is how do we think about coming back to work? by the time we get to july when august -- when offices can be fully open, more than half of cloud flare employees will have never worked a single day in a cloudflare office. we are trying to think about how it's a combination of -- go ahead? ow,ly: i just said, w that's pretty incredible. it is interesting to hear how you are working to keep those employees engaged and feel like they are part of something bigger even though they may have never met their colleagues. we have to leave it there. cloudflare cofounder and ceo matthew prince, thank you so much for joining us. buying cloudsco is company imi mobile. we will speak to the x vp and what it means for the companies, and also look ahead to their webex one event tomorrow. that is next. this is bloomberg. ♪

emily: software and cloud companies have moved front and center over the last year amid businesses scrambling to move their workforces online and schools across the nation going to distance learning. that as vaccines near, uncertainty lies ahead for the collaboration industry. joining me is the cisco vice president and general manager of security. starting off today with a couple of new acquisitions. i will round out your portfolio. talk about what these companies mean. >> thank you for having me. we are excited about both of these acquisitions. one we announced today was imi mobile. they are the customer experience and service base.

both you and i have been at a point where we have called a call center after we have made a purchase and they are frustrated because they transfer us from one of -- one department to another and that is what we are trying to solve with this business. that is where we think imi mobile is going to help us change the way the customer experience evolves over time. that's one area. is the audience engagement platform. imagine you are in a room with 10,000 people, but you want to make sure they are still interacting with you as a presenter. slider allows you to do that by making sure you can pose

questions. you upload question and there's a real good interaction with the audience. it feels like you are engaging in a very intimate conversation with people. emily: cisco's webex had a moment this year but so have many platforms. there are a myriad rivals out there, zuma stands out. -- zoom in particular stands out. has webex held its own over the last year? what trends are you seeing? jeetu: we feel like we have held more than our own over the past year. we have actually seen an eight times increase in our video volume. we've seen over 600 million people on a monthly basis using our service. end upthe fortune 500s using our services and nine out of 10 educational institutions use our service. there is a fair amount of

government and educational , the topons educational institutions using us. there's a fair amount of increase in volume. what we thought was at the beginning of the covid crisis, we had seen spikes, we thought it would flatten out. in fact, we have not seen that at all. we have seen it keep going up and we are having record month after record month. it has actually been pretty remarkable to see with the amount of demand as well as existing customers using it more and more. emily: your big webex one event is tomorrow, but it is an increasingly crowded field. what are you going to announce tomorrow that is a game changer? jeetu: we have our first of a kind future work event called webex one tomorrow in the afternoon, so those of you who have not registered, go to webex.com and register. we are going to announce three major areas of innovation.

the first one is just productivity and well-being space. ,ow do people stay productive but also reduced fatigue and stress, all the things that go with working from home that got to be very stressful. we want to see if we can ease that for people to see if they can stay productive without feeling hugely stressed. the second area will be around a massive investment in a partner ecosystem. if you think about salesforce facebook, and many more, we will be integrating the webex experience into their product and vice versa so regardless of the

if a customer is invested in those applications, we want to make sure we can have a world-class integration with those. interoperability is very important. the third area is in devices. we are very lucky to have a portfolio of not software but also devices, and tying those together. we will have a set of magical experiences. think of us like apple where we would be in the videoconferencing area, it's very tied together so you have a magical experience with each other. emily: interesting. the apple of the videoconferencing era. we will be watching the event tomorrow. thank you so much. the cisco senior vice president and general manager of security thank you. and more news, software and with the quick king at home in the pandemic, we caught up with the big investor in the space, orlando bravo. the buyout veteran talked about his reactions. >> i have been absolutely surprised. we investors can be taught to be overly conservative rather than

overly optimistic, so we were going through all the things that could happen and were drawing parallels to 2008. no lp commitments were very few, very little capital deployment, and corporations freezing their budgets. those were the terms they used back then. this time, it was totally different. lps were willing to take risks and corporate buyers were leaning forward and making investments. >> one thing that is interesting about this cycle is how much of the software market has heated up significant interest of valuations that are extraordinarily high. how does that impact the vehicle when you are thinking about investing and thinking about the return profile with so many investments you make? >> this is a really good

environment for bravo. with a scale we have now, we can do the same thing we have done over the past 20 years but at scale. that gives us the opportunity to buy the number one players in each market. the leader that is growing over 20% compounding every year, and the most important thing is our strategy is an operational one. we are not in the business of buying high and trying to sell higher. that's a short-lived strategy. we try to partner with the best operators. we only work with existing management, then we put a set of principles in place to take those companies to a level they did not think was possible. we are looking to take $5 billion to $10 billion market cap companies and get them to 30 or 50 very quickly. if you look at our recent deal, ellie mae, we bought it and 18

-- we bought that company for $3.7 billion. 18 months later, we sold it for $11 billion. our peers in the industry have asked how did that happen? it happened by building fundamental value. we backed the same team, but at the beginning, the company had 20% margin and was growing at 10%. 18 months later, we have 60%, so we were growing at 30%. reporter: so isn't it exactly situations like that where you have this incredible turnaround, a very short space of time isn't , it situations like that that mean it's a great market to be selling in, but actually to go out and acquire 14, 15 times whatever the multiples on software assets are right now? it's difficult to make the return profile your investors want you to make. >> the most important thing is not the price going in these days. this is a market of growth, so it is the market of no leverage

relative to your capital structure given the entry price you have to stay in. but it is a market where the growth opportunities are so much bigger because these companies are all cloud, all returning revenue, and they are solving problems 10 to 20 times bigger than the problems being solved 10 years ago. when you get that right and do what we call innovation done right from an operations standpoint, you can make a wonderful return in this market. reporter: do you think the leverage aspect of private equity, and by that i mean the traditional private equity models, putting on debt and think thatm, do you will be a thing of the past, bearing in mind what happens to a lot of those companies that were heavily in debt going into this crisis? >> the leverage multiples have remained the same really since 2005, with the exception of the financial crisis. what has changed is the quality of the business. all recurring 80% margin in our

space. the size of those companies and the growth rate of those companies, which hardly explains the valuation increase. leverage,ey through particularly in tech buyouts and software buyouts, a thing of the past. a way to make money in the way we have done it is really through operations. hammondloomberg's ed with orlando bravo. still ahead, apple aims to outrun the chip industry top player, intel. new processors could, soon as spring. all the details, next. this is bloomberg. ♪

emily: let's get to apple now -- the iphone maker is planning a series of new processors for introduction as early as next year aimed at outperforming , intel's fastest chip. for more, we want to bring in

bloomberg's mark gurman who covers apple for us. apple'ses the state of chip efforts stand vis-a-vis intel? mark: thank you for having me. right now, apple has three computer lines with this new m1 processor. these have chips on line with the highest and ipads in line with the mid to high range intel processors in laptops. those launched a few weeks ago, the air and macbook pro. emily: how does this compare with what intel has to offer? could this be a move towards really damaging intel's legacy ?n the entire industry streame mark: one of the core aspect of chip design, the more cores you have, the more tasks you can do at once while keeping the machine at top speed.

right now, apple's chips are for cores and then for low performance, high efficiency, so eight total. these new ones across 2021 and into 2022 will go up to 16 and even 32 cores. that compares to the highest in mac pro, only having 28, so they are going to beat them now in terms of performance based on those numbers. emily: how will other computer makers react to an aggressive 2021 line-up from apple? mark: you see apple pushing the specification and the underlying tech, whereas intel uses ex 86. right now, it seems like other computer makers are going to take a look at moving to that same underlying architecture given how far ahead they will

see them going ahead of intel in the coming years. emily: about 30 seconds left. what about ethics? what does it mean for nvidia or empty? amd? mark: we are looking at them topping two to three times faster with the new apple graphics chip compared to what you see from amd as well as nvidia and pcs in the next year as well. all the info for us, thank you so much for that update. something we will follow into next year. that does it for this edition of "bloomberg technology." i'm emily chang in san francisco. "bloomberg daybreak: asia" is next. ♪

yousef: this is bloomberg daybreak middle east. asian equities and u.s. futures slide as coronavirus infections raise fears of more restrictions. covid survey of a vaccine. as the u.k. rolls out shots. boris johnson is heading to brussels as brexit talks enter their final days.