♪ i am emily chang, in san francisco. this is "bloomberg technology." coming up in the next hour, social pressure. facebook, google, amazon are feeling the squeeze. president trump regains control on his twitter handle. $2 million where the e-commerce giant is

expanding. we will talk to amazon representative it was also the former press secretary of president obama. we will talk about the incoming administration amid tech scrutiny. shiny objects. do you need a distraction? what is coming up on next week's consumer show which will kick off virtually for the first time ever on monday. stocks are hitting a record today as president-elect biden calls for more stimulus. i went to get straight to ed who has been following the action. ed: ending the week on a high. technology is the outer performer and that has been the story of the week. you can see the nasdaq 100 index up around 1.3% and the new york thank has come back. performers,t out tesla, and another one in the

world of electric vehicles. they will be one made for the chinese market. tesla continues to dominate the new slope rating 11 straight days of gain. up 8% on friday. the question comes when tesla will hit a market cap of $1 trillion. as you said, stimulus further in focus. we had a weak job sprint. joe biden really reinforce the message that stimulus is coming, it reigniting that inflation trade at the end of friday's session. ostapenko at eight -- talked about bitcoin hovering above 40,000 today but it dipped below that a lot of it as we got through friday.

the focus now turns toward the biden presidency and toward stimulus check as we and the week in risk on mode. we have beenme, as speaking, the washington post has reported that twitter employees, 350 of them have signed a letter calling on jack dorsey and twitter leadership to permanently suspend the president's account as he got access yesterday. he tweeted that video and more controversial suites since then, saying that he would not be at inauguration day. facebook and twitter and google are under pressure. abigail: it adds to the pressure that we have seen on social media companies on friday. ed: twitter is down 1.2% on friday session. it has posted a weekly decline. -- we had several lawmakers

in the u.s. basically say, why companiessocial media not act sooner in a way that could have perhaps present -- prevented the scenes that we saw in the u.s. capitol. you also saw mexican -- mexico's president calling was a bad omen. to ctually likened it [indiscernible] the market weighs outlook at happen as a biden presidency enters the white house. emily: it will certainly be an eventful two weeks between now and january 20. thank you so much for those updates. facebook, twitter, google are facing mounting pressure from groupsts the public and as more content is being posted, such as with president trump after a mob of pro-trump

protesters, rioters, stormed the u.s. capitol. regained access, facebook has disbanded -- has suspended his access. employeermer twitter is who we have with us next. he has warned that politicians could misuse the five corporate i want to get your reaction to this story from the washington story -- the washington post that there are twitter employees calling upon dorsey to publicly suspend president trump from the platform. what is your reaction? theseooked up some of twitters and is about 7% of the base. twitterhat more employees and up signing this letter and that the executive

team and the board listen to the employees and what they are telling them about how dangerous it is pro-trump to be on this platform, not only for their own employment but for citizens of this country and of the world. are concerned are you that president trump has access to his twitter account again and presumably will have access for the next two weeks while he is in office? it is the most dangerous time right now. i've seen it before when he was only a candidate and attacked young woman in 40. she was harassed. i've seen it during his presidency, and now in the past couple of months, i saw it again on -- and i red in open letters. , two weeks from inauguration, and i think that if you'd not take his twitter muchnt away, they will be

more violence coming on the day of inauguration and afterward as well. going back a decade to 2010 when you are working at twitter, you warned them about bringing politicians on the platform. what about their argument? that worldent leaders and the public have a right to hear what they have to say and that they have a right to say what they want to say, and that there is such a thing as free speech, and that certain things are newsworthy, even if they are potentially false, if they are coming out of the mouth of a world leader. laura: how can we justify this? to be some sort of playbook and to define what a world leader is. is it a dictator? is a fascist? is a democratically elected official?

we need to define what a world leader is. there are other platforms to be to sharethose leaders their information. they do not need to use privately held tech companies for that. emily: what do you make of the fact that facebook is actually taking a different and more extreme position then twitter at this very moment? it has banned the president's account indefinitely. laura: we all know that twitter has been the main propaganda machine and platform for social media. impactings not really president trump, sc has not been on his book as much as he tweet s. everyone knows that twitter is his main platform. the day that we should applaud mark zuckerberg or facebook

that is notcause the main platform. emily: facebook has said that it has removed over 600 socialized movements. proud boys, qanon, and others. the fact is, even if the president is not on the platform, his supporters are there. i wonder, is it too late? is the genie out of the bottle? laura: it is, and we all warned, and actually many people, and people of color, and women that work at this platform, that use this platform, they have warned of trouble andrs all of his supporters and his extremists using the platform. no one listens.

here we are number two weeks away from inaugurating a new president and we do not know what trump would do after january 20, and how we will -- how he will use this platform. i believe it will be worse than what we saw at the capitol. emily: to be fair, this movement has gained steam and life on social media. there has been a lot of talk on what happens after january 20. many believe that president trump will still potentially have a future in right-wing media and will be a leader in some circles, maybe not an official leader of the republican party, but certainly inspired a great following, even though he lost the election. what policy do you think the company should be taking on him on his posts after he is not president?

what he is a regular american citizen? -- when he is a regular american citizen? laura: it is all arbitrary. everything is part of the moment. we saw the flag about not retreating or liking -- not re-tweeting. i had never seen that flag before. why do they put it this week instead of taking down the account? they to think through all of the policies that they try to apply to current world leaders and ex- world leaders when they become private citizens. all of the mobilization of his space and the radicalization of all of his supporters, that think that it is ok to go to the capitol and enter and be violent in the process. that he is still on

twitter right now. i cannot believe it. employeesoping that at twitter actually do something, and that they are actually talk to the leadership in the board and convince them what the division could do to this country into the democracy. emily: we will be watching to see how jack dorsey and the executive team wrecked to this latest plea from 350 employees at twitter, again, who have signed a request calling on twitter to suspend president trump's account immediately. laura gomez founder of prieto solace. thank you so much for joining us and sharing your insight. coming up, the consumer electronics show kicks off next weekend, and it will be a lot different next year. -- vizio. we will have gary shapiro with us next. this is bloomberg. so you're a small business,

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emily: the consumer electronic show is going virtual for the first time ever, and this year will look a lot different for vendors and those who participate, as everything becomes remote. investors will no doubt keeping their eyes on digital health and cybersecurity. with us to look ahead, is gary shapiro the consumer technology association ceo. gary, i bet you never thought we would be doing and all virtual show. are you excited, open-minded? open-minded, but now i am excited. there has been so much support

and over 1800 exhibitors. it gave us an opportunity to reevaluate what this has for industry and connectivity. we were able to change the show dates and extended by 30 days so that people can react and follow conferences that they want to see and talk to exhibitors and still and look at what they are offering. it has allowed us to connect with people. we had over 70,000 people register and opt in to be connected with each other. the connectivity is there any personalization as they are, and we are using keyword searches, and exhibitors have become very creative and what they are offering. we will have a lots of live sessions and demonstrations of the products. we will have an anchor desk and amazing speakers. we have been free from the physical world, and once we realize that, we announce this in july, and the response has been strong. emily: do you think that it will ever come back in person? gary: absolutely.

we have already signed up several hundred exhibitors for exhibits.22 for live doctors who have already gotten the vaccine have already agreed to meet. got the vaccination and she is already agreed to a live meeting. we are there, we decide to recognize that this is an unusual year and take advantage of the digital opportunities that are there. so much as happened, and the world has transitioned visually. the changes and telehealth, tele-education, and so me different aspects of what we do, including mobility are leadoff keynote figure is of gm, and announcing a whole new look, electrification. we have great companies like sony and some some -- and a samsung focusing on 5g.

artificiallso intelligence. we have changed how we work, how we work, how we play and how we get around, and what we are looking at. health technology is big, digital health is a big focus. want to get together and communicate and meet. we have provided the opportunity, and we have teamed up with microsoft, with microsoft sprint they provided the infrastructure. the cybersecurity and the cloud platform and the production. all of this at microsoft headquarters. it,y: we know where to find gary should be her, ceo of the consumer technology association. we will be following it all week long. thank you so much for giving us a review. t-mobile is exceeding estimates for fourth quarter subscribers at the expense of at&t and verizon. we will talk to the president and ceo next.

this is bloomberg.

t-mobile is closing the books on 2020 with 5.5 million monthly customers, the most in the company's history. i caught up with the ceo mike sievert to get his outlook on this year. a new administration and relations with china. million was 5.5 postpaid subscribers, the most in our company's history. i'm so proud of the team. the bottom line is this, customers want a network connection that is reliable and they want it at a great value now more than ever. we delivered. regardless of the market onlytions, we have not grown on people switching from at&t and verizon.

even with that muted environment, we were able to deliver some of the impressive growth numbers and our history. a model and that what we have to offer to consumers is resonating. emily: with a number of job losses that we have seen and the recession, can subscriber growth come even close this year to what it did last year? what is your outlook for 2021 and how will be similar and different? mike: i would expect now more than ever the people will not give her up on this category. they might be asking themselves if they have the right provider and if they can have a better value. people have to make tough choices out there right now. we offer the undeniably best value in this industry, while simultaneously building the most extensive 5g in capacity and u.s. history. no one has been able to offer that at the same time, at the best value and the best network. budgets are tight and is now

time to reassess if you have the right provider. navy that is a great opportunity for us. emily: we faced great political uncertainty over the next two weeks. we have inauguration day in the new administration and a democratic congress. how do expect the political climate to impact t-mobile's priorities? mike: i will share an observation. we started this historic turnaround eight years ago. we have had four years of rapid growth and success over -- under the obama-biden administration and four years of success under the current administration. delivers theplan best network at the best value and it is not susceptible to the political landscape as much as many might guess. we have shown success under both democratic and republican administrations recently. emily: what is your message to be biden administration given that they will have some impact on whether it is 5g or issues that impact t-mobile?

mike: i hope that we will continue to see regulatory environment that is progrowth and proconsumer. the other thing that i hope and inspect to see in an environment that is working together more. in this country, we need political leadership that moves past the divisiveness and is willing to look at the good and arguments on both sides and make some compromises and move this country's agenda forward. i'm hoping to see that under the next administration. emily: the new york stock exchange is proceeding with a plan to delist three major chinese telecoms. they are very competitive in 5g. what is your response to that? mike: we did not get too involved in it. i will tell you that you are right, not only do we not compete with the companies. awayearly on, we moved from supplier relationships with

some of the large chinese companies like huawei. i did not affect us as many as other global telecoms that were still reliant on that technology. emily: i want to ask about 5g more specifically now that folks are getting phones fully equipped with 5g. there is some concern that all of the carriers are wildly exaggerating the 5g capabilities. how do you response to that and how do you measure where you really are on 5g? mike: i think there is some truth to it. people have been breathlessly claiming that 5g is the most transformative thing ever. it is a huge step forward, but let's be realistic. there are two variants of 5g out there and t-mobile is leading above. available,broadly and hours reaches 280 million americans up across 1.6 square

miles. that is four times more than verizon and the is about twice as fast aslte if you -- as lte if you don't want congestion on your streaming. the exciting part is the ultra-capacity 5g. versus where our reality verizon and at&t is so stark. we smashed our goal. we are covering 106 million people with the highest capacity that we offer. that compares to the 2 million over at verizon. it shows that our models are very different. this is very transformative. lte usedes faster then to be. that enables software that will be transformative as to the technology experience that businesses and consumers have. that part is not an exaggeration. emily: that was t-mobile ceo mike sievert. friending the president with trump losing

facebook privileges for the rest of his term, what does it mean for the future of social media question mark we will talk about that next this is bloomberg. ♪

emily: welcome back to "bloomberg technology." back to our top story of the day. facebook, twitter, google are facing mounting pressure from civil rights groups and they are addressing the accounts, including president trump. this is after a mob of pro-trump writers stormed the u.s. capitol . we are joined now by david kirkpatrick. you would ever have seen the day where this was

banning trump on the platform and definitely? it is not inconceivable that facebook could do anything because its standards and policies have been so inconsistent. it is not shocking, they kind of do whatever the wind tells them to do. i do think that they did the right thing and taking trouble off -- trouble off through the inauguration of the inauguration. they're not really -- emily: we are getting a report from the washington post that 350 twitter employees are calling on jack dorsey to suspend president trump's twitter account as it was expended for 12 hours, and he deleted the offending tweets, and they reinstated it. he has used it today to insert even more chaos and confusion into the national conversation.

do you think that he should be off twitter for good? david: i saw your earlier segment, which was really interesting. honestly, by contrast with facebook, jack dorsey is really trying to operate based on some sets of principles. one of the things that you have to remember about issues like taking trouble off is that these services are used by heads of states and government users all over the world. in reality other content is being shared by people in the philippines or in brazil. jack dorsey is more of a logical thinker. permanenttrump off eye, he is the good, he would have to be more consistent with the other countries. zuckerberg does not care about that. he does something to placate the employees in the u.s.

much more thinks short-term, more reactive. however, after the inauguration of biden, by the principles that these companies have established, including twitter, there willt have no choice but to ban trump permanently. during president, he has violated their terms so me ties. they have only allowed him to remain because of his head of state status, his world leader status. you have gotme, the number of lawmakers suggesting that the president resigned, as there is still a threat of him being impeached, the 25th amendment being invoked. now even a republican senator is saying that she wants the president to resign. she is saying i will him to reside and i will have out, he has caused enough damage. she is a senator from alaska.

she even said that she might have to split with the republican party if this is not happen. what do you think is going to happen in the next two weeks, and how concerned are you about the damage that could be done if he still has this avenue to the public via twitter and other social media accounts? david: first of all, i believe that if he does anything new or incendiary on twitter, they were shut him down very quickly again. i am sure they have people the momentry tweet it goes up here at the highest level of the company. i am not really worried that twitter is going to be used to further so chaos. i do not think they will allow that. i think that he is feeling very muzzled. interesting question, are we seeing a turnabout where the enablers of trump generally across government and society are going

to be turned upon en masse after he is gone? if people like lisa murkowski are now calling for him to be removed, that is addictive. if you look at the book deal of josh hawley being canceled. i think you're going to see a big shift in facebook and to a lesser extent twitter, they are both probably going to get some major blowback after biden is inaugurated on how indulgent they have been to this man. unfortunately for them, it is probably going to increase the likelihood that the newly democratic government is going to come down with some very strident and stringent new regulations to restrain. jackiewell, our producer lopez pointed out that is sort of feels like president trump is getting canceled. it is not just facebook and twitter. shop five and amazon's twitch.

what you think about this characterization? let's be devils advocate. is it an overreaction? david: i love the way the jackie things. thank you, jackie. ato not think that it is overreaction. everyone recognizes, even mitch mcconnell called it an insurrection. really, that was a terrifying moment in american history, that was facilitated and encouraged by an out-of-control rogue president, who -- it is not overreacting to try to do whatever we can to prevent that sort of thing from happening for him now or from anyone else ever again. unfortunately, he is being canceled. he probably deserves it. there is video going around now, they show watching the demonstration and partying. i do not know if that has made it onto tv.

this guy went way too far this time, and he is paying a price. did see that video that you are referencing in a facebook messenger message. understand the context there. david kirkpatrick, we always appreciate you putting things into context for us. so many questions remain especially and even after inauguration day. up, tension between the united states and china continuing further inflamed and the final days of the trump administration. what will president-elect biden do when he takes office? that car station is next. this is bloomberg. ♪

emily: as we have been covering, the new york stock exchange is moving forward with delisting three chinese talent, companies. do lessit would not than. authorities in washington have been wrapping up efforts to deprive these companies days before president trump leaves office. this is banning transactions with eight chinese apps. we are joined by principal at albright stonebridge group. amy, we've been talking about what kind of damage the president could do in the next two weeks if he stays in office. and concerns about that. i wonder if you have the same concerns about the u.s.-china relationship? do you think that he could do damage, or potentially do more damage to the u.s.-china relationship if he stays in office over the next 14 days? amy: on the negative side of the

ledger, we know that the administration is trying to do that. within the next few weeks. vd listings that will happen on monday, the latest executive order banning american use of commercial payment systems that are chinese. that thennouncement american ambassador to the united nations will travel to taiwan next week, that is all meant to damage the environment that president-elect biden is going to inherit on january 20. your question is the right one. is there going to be so much damage that it is irreversible over the next two weeks. i do not think so. to blocksare meant and the biden administration to inflame u.s.-china relations. in this case, because beijing knows that they are about to start working with a new set of

interlocutors, i think that the chinese government is not going to want to do something to sour the prospects of timbering u.s.-china going forward. does this set up the biden administration? you use the word boxed in. amy: i think it is pretty obvious that many of the policies that the trump administration is putting in place, like tuesday's executive order that will not go into effect until february is meant to try to put constraints on the ability of the biden administration to set its own course with china. this transition has already said that some of these late, very policiesely introduced and executive orders by the trump administration will be reviewed by the biden administration before he decides

whether and how to implement them or roll them back. think one hand, i do not that the trump administration moves necessarily to box and the biden administration. on the other hand, the mood on u.s.-china relations you're washington is so negative. it is true that it would be difficult for president-elect biden to immediately rollback tariffs or cancel be phase one trade agreement in search of something maybe less tough on china. know that the biden team is coming in with a very clear view of the challenges that it faces with china, but it is determined to set its own course going forward and not be influenced by the trump administration, particularly some of these pretty badly written policies that were just put in place over the past

month. emily: meantime, the chinese government itself is getting more aggressive on its own companies and its own tech new antitrustand investigations, and new regulations. the founder of alibaba is now out of public view. that is being seen as a stern warning. no one is bigger than the party, if you will. am curious how that changes the game for biden? amy: i have to say that unfortunately, it does, i am sure, they could be biden administration, and anybody looking at the independence of private chinese companies' ability to operate in china a little bit more wary. there has long been talk with them the trump administration

about whether or not it should restrictions,a in with restrictions being put in place on american investor activity with alibaba which is listed in the united states, and the arguments against that is that because alibaba is a private company. like you said, the chinese government itself is determined to get into alibaba am a breakup part of the company, and likely put more controls in place, which unfortunately will only enhance concerns that any user data that alibaba gets a hold of , of american citizens, in the hands of the chinese government. , albright celico stonebridge, thank you so much for helping us navigate a very difficult topic. lodging to, amazon billion-dollar hedging funds. i spoke with the amazon senior

president of global corporate affairs on how the company plans to tackle the housing crisis. that is next. this is bloomberg. ♪

over: amazon has pledged $2 billion to create housing units in the areas where the company is expanding. i spoke with amazon's jay carney he was also present obama's former press secretary and were asked the e-commerce giant to ask now. company anda large a growing company. we have big employee bases. and we are growing a big employee base here and d.c. and northern virginia. we have a substantial employee base and nashville. areas thathree urban have an affordable housing problem. not unique. it is a familiar one as you know

in the bay area. it is the mill you're in many places in the country. what we liked about our ability to try to help address this challenge is that we are in multiple places. we can do it where we have a significant presence, and we can do it in three different locations, three different parts of the country. we are committed to trying to help. we know that the private sector cannot take the lead in addressing this challenge. government, state and local governments have the regulatory power and the lawmaking power, and they need that. we feel like we can help make a difference with this equity funds. emily: speaking of the private sector, other big tech it -- big tech companies have tried to purchase as well. if you look at microsoft or google or facebook or apple, anything that you try to emulate or avoid? jay: we looked at what others were doing in this space. what we decided to do was focus units,erving the housing

making them affordable and allowing them to be affordable for many years into the future, rather than focusing on building new units. what is your take advantage of the speed. -- we wanted to take advantage of the speed. we are providing substantial loan guarantees for a big portion of the deals required. we are not just a layer of financing. see, as some others have approached us, and that means that we can move quickly. the two initiatives that we announced today, one and northern virginia and arlington, where our second headquarters is located. they came together in a matter of weeks, literally. that is because of the scale that we were able to bring, and the way that the housing agencies were able to take that scale and put it to work. emily: we know that the housing crisis disproportionately

affects communities of color. how does this address that? jay: one of the things that we are trying to do, that i think it a little novel in our approach is to not only provide loan guarantees but also to provide grants to organizations that are focused on serving communities of color as they try to address this problem. so we are very excited about that piece of it. we are hoping that we can have an impact. everything we do, we do not presume success. we measure it every day, and we are going to see hopefully some positive results here. of a: what is your sense post-pandemic amazon needing more or less office-based long-term? jay: we have not made any formal decisions around what the future of our work looks like. we have extended our work from home policy for our corporate employees through the school

year. we will continue to assess that as we look at how states are getting their citizens vaccinated and what the various rules and regulations are in our locations. i think, again, we think as leadership at amazon, in person work is important. ideait comes to be kind of generation and the white board that some of our technical teams do every day, there are advantages to being at work. i do not anticipate amazon going forward virtual at all. we are continuing to grow in our headquarters right here in d.c. and the d.c. area in northern virginia. we continue to hire and build out that campus. we are looking forward to being able to occupy our offices there when they are ready. 20 was crisis mode and

amazon hired 400,000 people last year. different in terms of staffing and demand? jay: we do not know yet in terms of what2021 will bring, in terms of covid. hopefully as vaccines get distributed and get taken by citizens and of course and are areas around the world, we will beget -- we will begin to get beyond this. we never make predictions because it is really up to our customers. emily: what is the message that amazon once to send, is ascending to the new administration, which will arrive with a full plate of regulatory issues? there is antitrust issues facing amazon. are you having conversations -- transitionon officials to communicate that message? jay: we have engaged as a company with every administration, and we have with

the current one. we will with the biden administration. the answer to your question is that we have a lot of align with the incoming administration and its objectives around raising the minimum wage, which is woefully low. we british are minimum wage to $15 per hour if you years ago -- we branched our minimum wage to $15 per hour a couple of years ago and we have seen other companies follow suit. we do think that congress needs to act on this. we have already offered our help in whatever way that we can provide on covid relief. we have a lot of express, as you know, because of our front-line workers out there in the fulfillment centers, the actions that we have taken to keep them safe. with created our own lab facilities and testing facilities, and we have a lot of experience to go. forre looking

sustainability wet. administration, we are going to take the challenge of climate change seriously in the next administration, and we think we can help with that. we will not agree on everything, and we never have in the past. throat havingam worked with joe biden, -- i am thrilled having worked with joe biden he is a man of high integrity and takes his job seriously. i saw that every day, and i expect that he will be a good president. i do have incarcerations with transition officials now or are they already starting? -- have you had transition conversations? they are focused on covid relief, and we have offered suggestions and our experiences. we are open to any ideas that the administration might have or

the incoming administration and how we can help. expect, as aould broader organization, we are having conversations with elected officials all the time and incoming administration officials. the focus that we have had has been uncovered. emily: i have to ask given that you are president obama's former press secretary, and chance that you will be taking a job in the administration? i do consider that? -- have you consider that? jay: i have no plans, and i had the best 5.5 years. i loved every minute of it. up at amazon, and i have loved every minute of this. that vice president -- president-elect biden has surrounded himself with an incredibly competent group of people create incoming white

house press secretary is someone i worked very close with great i do not think that you can have a better choice, she is fantastic. they have plenty of good people, and they do not need to meet. -- they do not need me. emily:, jay carney senior vice , president of global corporate affairs at amazon. that is it for this friday.

david: the new year stumbles out of the gate, but the markets take it in stride. this is bloomberg "wall street week." i'm david westin. this week, larry summers of harvard. >> instead of being one of seven or one of age, and scripts of movies, we are one of one. david: megan greene of harvard. see a focusing to on small business, which is the right place to start. >> nothing like