♪ emily: -- david: welcome to bloomberg technology, i'm david -- david westin sitting in only for the moment for emily chang. first a look at the markets, optimism that the economy will benefit from government support after hours where it was all about the impeachment. ed ludlow has more.

>> the news being that the house has the votes to impeach president trump for a second time. 232 in favor, 197 against. 10 republicans voting in favor of impeaching donald trump. not a lot of action out there on the financial markets, where we are waiting on futures, but currency markets are very sanguine. euro-dollar is pretty static. in terms of the story of the day this was about the outperformance of technology stocks, leading the games in the narrative boosted by the news of a stimulus from the biden presidency. you can see it there, the new york index up 1% and outperforming the s&p 500. i want to focus on the philadelphia semiconductor index . more modest games, but the story here is intel, up 6% on the day on this news that the ceo will be replaced.

gelsinger was a longtime employee of intel prior to joining vm west. a bit of a homecoming, but the narrative here from wall street is technology over finance. intel has fallen a high -- behind in key product areas over the last 12 months. perhaps why you see advanced micro devices down. the firm, online lending, ending its day with a 100 cent gain above the $49 where the company had priced their ipo and lastly, airbnb is up 5.7%, all-time high for that company, bringing the market cap up, benefiting from the rally that we have seen in travel stocks recently but also the news out of d.c. that they will stop any bookings for d.c. locations throughout inauguration week. david? joe: so much concern -- emily: so much concern there in

washington. we will hear more about a first day of trading on the new policy this hour and right now we are turning to emily wilkins in washington, we do have the big news of the official voting on the one article of impeachment against president trump. it's 2:32 to 190 seven. any surprises? emily: there were a couple. number one, remember the last time we had impeachment? we were in the position where there were no republicans that voted to impeach president trump. this time now that more have, including liz cheney, says a lot. it was on the things that we expected. there were other names that were more surprising, people who come from strong trump districts, tried and true conservatives who came out to say they thought the president deserved to be impeached for what happened. emily: we are expecting to hear from the president shortly. he's going to be releasing a video? that's what he's done since last

wednesday. what do we expect from the president? earlier today he almost wanted to plead for mercy, saying he doesn't want violence and that he's not a violent person. >> we have been seeing the president do more of these video addresses instead of live and in person ones. at a number of lawmakers, a bipartisan group, was getting ready to ask trump to give the statement that he gave today, tell people to stay home and that we don't want violence or what we saw last wednesday during the electoral college. so lawmakers were prepared to ask trump for that and he beat them to the punch by getting the message out and in terms of being adamant, he has defended himself against impeachment and that his speech to the crowds before the mob took over was totally appropriate and nothing wrong happened. there's a chance that he might go to try to defend himself

further this afternoon. emily: in the meantime, what happens next? the articles go to the senate, any sense of when there might be a trial? emily: there is a lot of discussion about what any potential trial would look like. the senate has a lot to do. they have to approve the biden cabinet and he wants to pass more stimulus and there is potential where we could see more something by the senate works in the morning and does a trial later in the afternoon. the trial might not take a long time. one of the house members who will be arguing impeachment pointed out that everyone was there in the capital day, everyone knows what happened. emily: -- david: these are extraordinary security measures being taken. i interviewed nancy mason from south carolina and she said she had originally planned to go to

inauguration and changed her plans because she fears for her personal safety. emily: it was held like a military barracks. very tall fencing outside the capital that you have heard police call non-scalable. inside, dozens if not hundreds of soldiers and members of the national guard just posted there , they are just lying on the floor, sitting against the hallways, just waiting to make sure that they are there for the inauguration. 20,000 national guard troops will be activated. more than we have seen for others and it really speaks to the fact that after what happened last week, a number of top officials are really concerned about what the concern -- what the security is going to be next week. david: thank you for your continued great reporting. coming up next, we're going to talk with the head of cisco, chuck robbins. that's co so you're a small business, or a big one.

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>> president trump has been impeached for the second time, marking the first time a u.s. president has been impeached twice. this after the violent riots at the capitol five people dead. five people all at the capital. i want to bring in chuck robbins, ceo of cisco now. you have been watching this as an american citizen and as a leader in u.s. business. how are you digesting this? chuck: first of all, thanks for having me. it certainly hasn't been the beginning to 2021 that we had all hoped for and candidly it is just sad. everything that has occurred is just sad.

it's a time where our nation has so many crises going on, we need to come together and work together and solve problems for the citizens of the country and instead we are dealing with the things we are dealing with. it's a sad day. so emily: -- emily: you are a business leader, we are facing an uncertain few days and possibly not peaceful transition of power. chuck: the thing is, i said, it's part of a sad narrative going on in the country right now. what occurred last week was a travesty that shouldn't have happened and those responsible should be held accountable. i'm looking forward to next weekend moving forward. there is so much that we need to get done and that we can get done. i never dreamed, honestly, that the united states of america, at a time where we had so many challenges that we couldn't put

down our partisan beliefs and come together as a leadership team in washington to try to solve these problems. clearly that's what we witnessed. emily: so, look, what is your outlook under a new administration for the things that are some of cisco's priorities, whether it's cyber security, infrastructure, or global competitiveness with countries like china. chuck: i actually think technology has a lot to offer and what's going on in the world right now, in the united states. when you look at the incoming administration, there's clearly a lot of focus on infrastructure , which will create jobs and modernize the capabilities of this country, which we need to do. a lot of work needs to be done obviously around cybersecurity with data privacy issues. the impending rollouts of 5g

going on in the united states and around the world are certainly important to our future as well. i think the technology can also play a big role in the inequality issues that we face in the country. we have proven through the pandemic that people can work anywhere and it gives us the opportunity to create jobs in places where we might not have thought that was possible in the past. there's a lot to be done, there's a lot that we can do. we are optimistic that we can come together to solve these problems. emily: meantime, the pandemic is still read -- raging. you and i are in california where they are hitting new peaks. you have been thinking about how cisco technology can help with the vaccine rollout, which to be fair has been slow. how do you imagine technology and cisco helping to improve the process? chuck: well, we have been

involved in a lot of activity relative to the pandemic and it is a peak right now. early days when he looked at the technology that we brought in for pop up clinics, now we are supporting with wireless cameras and different technologies, the pop-up vaccination centers that are beginning to show up. we have iot sensors ensuring that the vaccines are transported effectively in many cases, security cameras monitoring them. we are obviously providing all the connectivity for the locations where they need to be administered and hopefully we will begin to see much more progress on this, as i know everyone has been so looking forward to the vaccines and i hope we can do a better job over the next month. emily: now, let's talk about how the productivity world, how work involves as we move into a new normal. what is your sense of when the business environment in general

will return to a new normal. chuck: one thing we have seen his customers moving from the rapid response of last year and then they took a bit of a pause and we have seen customers believing they have to move. we see them investing obviously in technology, which was a key priority before the pandemic and now every customer realizes how critically important it is and one of the aspects of that is what does the future of work look like? we all believe now that it will be a hybrid model. as most people think, it will be some days from home and some from the office. we need to work hard to make sure that the experience for those remote and those in the room at the meeting are similar so that they experience the same productivity. i thicket will change going forward and again, it changes

how we think about where be live and where we can hire, where we can invest in resources and it will be a different world as we come through this. emily: now in other news, cisco is continuing to do deals and try to do deals. you recently one of temporary court order from blocking acacia on an attempted merger. can you give us an update on that and if necessary would you raise your offer? chuck: as you know, it's currently a legal issue, so i won't be able to comment much, but i will say that we were fairly confident we had the appropriate chinese approvals and we thanked the chinese for working with us to finally get to that point. and we really appreciate the opportunity. at the same time they didn't believe we had it, so we are having those discussions obviously right now and i'm hoping we will come to some sort of rationalization over the next

few weeks. emily: as with cisco's business, webex has been a standout, hardware sales have suffered, and i'm curious, do you expect more of the same this year, or as trends evolve do you see a change in some of your own trends as well? chuck: you know, emily, webex is up to 600 million meeting attendees per month. it has really held well. the teams have done an incredible job. velocity is faster than it has ever been. when you look at other aspects of our business, we saw customers who had begun to modernize their infrastructure, even the underlying infrastructure of their campuses , be saw that continue and it was really those customers who had purchased the older legacy

technology, that is what we saw slowdown. the committed customers kept moving and i think the rest of the customers realize now the between the cybersecurity events, the pandemic, the other crises, they had to have a robust modern technology infrastructure and i think we will see customers investing and looking to prepare their organizations and the foundation of their organizations for whatever they may face in the future. emily: all right, cisco ceo chuck robbins, thank you for joining us on a certainly momentous day in american history. really appreciate you sharing your perspective with us today. coming up, airbnb takes an aggressive step to protect the u.s. capitol and the fbi warns about armed militia groups planning more protests around the country. the airbnb global policy had, crystal haynes so you're a small business, or a big one.

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emily: airbnb says it will cancel all reservations in the d.c. area during the week of president-elect joe biden's inauguration and reimburse hosts what they would have made at their expense. this is an attempt to prevent further attacks at the capitol one week after pro-trump supporters storm to the capitol building, resulting in five deaths. joining us now is crystal haynes , senior president for global policy communication at airbnb. not only are you canceling reservations, you are doing at the expense of airbnb, reimbursing them. this is a dramatic move on your part. who did you consult about this and how did you come to this decision? >> chris: thanks for having us,

emily. in a million years i didn't think we would be having this type of conversation. consulting with local officials, members of congress, obviously yesterday you had the two governors, the governor of maryland, the governor of virginia, and the mayor of washington, d.c. make it clear that they did not want people traveling to washington, d.c. and we have a decision-making framework called the stakeholder framework where we really just consider all the issues impacting stakeholders and one of the stakeholders is the communities we are in and it became really clear to us that the right thing to do here was to block people traveling to washington, given all the guidance and everything going on and frankly the interest of our republic. we certainly wanted to make sure that our house, economically impacted, would be made whole. that's part of the framework. ultimately this is a pretty simple decision to prioritize

the public health and safety, particularly given the guidance that we were given yesterday from those various leaders. since then emily: emily: -- since then the president has been impeached a second time, the first ever to be impeached twice. i haven't heard about other hotels saying they will be canceling reservations. do you think they should be doing that? chris: it's a great question. i'm pretty comfortable speaking about our decision-making. obviously others will make their decisions. we do believe that all of us, you know, sort of thinking of thomas jefferson's first inaugural, where he talked about the vr all democrats, all republicans, meaning that we are all americans. we are all in a moment right now where that should be the guiding star and that context really prioritizes trust and safety. i do think that something that you and i have talked about

historically is this concept of stakeholder capitalism, making decisions to consider all the stakeholders. i continue to think that maybe after some time passes, people will look back and i'm not sure anything good has come of it but it has been interesting to see other businesses and business leaders really standing up and making decisions that prioritize this country and i wonder if this will be one of those moments where people saw stakeholders in action and put action to their words. we made a decision based on our application of the stakeholder framework. emily: now how much of the virginia and maryland suburbs do your cancellations include and can you give us an idea how much this would costin if you will make similar decisions in other state capitals across the country? chris: great questions, let me

try to take them individually. in terms of geographic parameters or scope, i'm sure you will appreciate this, we are not looking to be able to give specifics. so anyone out there looking to try to evade the systems we have in place to block travel can take advantage of that. we are certainly applying this approach to the greater d.c. metro area, but have been pretty careful about not giving the detailed specifics, really in an effort to make sure that people cannot evade the systems we have in place. it's going to impact roughly approximately 5500 reservations in the area. but we also have signals that allow us to be able to change the parameters pretty quickly if we feel we need to expand. from a financial -- perspective it never really came into the conversation. we have been removing violent extremists, neo-nazis, to dating

back before charlottesville and it is something we have been doing on an ongoing basis. those conversations just never involved how much it was going to caused or what the financial impact would be. it's about what the right thing is to do and i know that might sound trite, but that really was the conversation as brianna, or ceo, he make sure that we are doing everything possible to never raise at all, the financial impact. it's just do the right thing. regarding the capital, you are 100% right. governments have issued warnings and the other day we announced a seven point plan to address how we keep these specific types of folks off the platform. we have flexibility and adaptability to move that around and we are certainly in contact with different states in different governments and we have been doing this all along. we will continue to do it and learn as we go forward and work

with these governments to do what we can to help keep people safe in this moment. emily: chris, we have got about 30 seconds left but you said you identified numerous individuals associated with hate groups or involved in criminal activity tied to the capital riots. can you give us a sense of how many or where that stands? chris: yeah, we have been doing that really since 2016, where we had a commitment that had to be signed to be on the platform and they built a bunch of systems for folks associated with violent or extremist organizations. neo-nazi organizations. on a regular basis going back five years now, we just -- take people off on a regular basis. emily: ok, all right. well, thank you for sharing the dramatic depths you are taking.

appreciate you taking the time to join us and you are obviously an experienced washington insider. coming up, twitter, facebook, other networks facing backlash from world leaders for banning president trump. we will talk to the former ceo of twitter, deck cox. ♪

emily: come back to "bloomberg technology." i am emily chang in san francisco. the u.s. house has voted to impeach president trump for the second time on a single charge of incitement of insurrection. our josh wingrove joins us from the white house with the latest. he is the first president in history to be impeached twice. what happens now? josh: it's going to go to the senate. we have chuck schumer who will become the majority leader after

inauguration, pledging that there will be a trial. democrats are urging moving as quickly as possible. it doesn't look like there are enough votes for a conviction. as for trump himself, we know virtually nothing about how he will respond. i'm speaking to you from the white house. he has not spoken to the press today. it sounds like they are going to record a video, dump it out, and that will be his response. as for the trial, we have no idea what his approach will be, what his team more broadly will be. we are simply up in the air. the president, given his social media feeds, we are uncharacteristically blind into his state of mind as these events unfold. emily: you have told us it is

unlikely he will actually be removed from office or he will resign between now and january 20. does this change that? emily: i don't think so. he wants to be defiant. he doubled down on everything. he came out yesterday and said the 25th wasn't a threat. he's not going to be pushed, and donald trump has indicated he doesn't think he's done anything wrong. it looks like he will be president until the 20th. whether he will be president in washington, we don't know. we expect him to go to mar-a-lago, which is nominally going to be his residence. we don't know if he will hold any events, but by the day, it seems like he is losing staff and aides who are departing the white house.

the white house, winding down as trump deals with this crisis, one of his own making, in response to the events wednesday. emily: regardless of whether or not he's in office on inauguration day, certainly, this is a stain on the president forever. how will this change his post presidency? josh: i think it lowers the odds of whether he would run again. he simply does not want to commit to 2024 and leaves the republicans at more of a crossroads. before this, there would've been an overwhelming gravitational pull towards trump. now, it's a little more murky. what is also murky is the money question. we've seen blowback from donors.

we don't really know the fatality of the event fully. donald trump is going to hang around one way or another. the mob and the fallout since then undoubtedly undercuts that, but we will have a fairly early test of how strong his grip is still. there's a push in the house to remove liz cheney as the house conference chair. she of course was the highest profile person today to vote to impeach trump. she was one of 10 republicans to do so. if she holds on, that's a sign the party is ready to move on from trump. if she gets dumped, it would be a sign that trump's grip is still strong. emily: that number 10 of republicans sounds small, but it is significant. josh, thanks so much. we will check in with you as

things continue to develop. meantime, facebook's banning of president trump alongside a similar move by twitter has been blasted by critics around the world, calling it censorship. we are joined by a guest who applauded the decision twitter made, saying it took a lot of courage, while millions of users are sure to hate whatever you decide. the former ceo of twitter and managing partner of 01 advisors, i've got to start by getting a reaction as an american citizen, investor, president trump being impeached for the second time, the only president to be impeached in history twice. how are you digesting this? dick: another slow news week, right? i mentioned the night of riots. these things change in real time

so quickly. it's hard to get historical perspective on them. that seems to come a week later and then change after that. the short answer is i don't know. it's obvious this will go down as an important moment in history. it's hard to understand in real-time how it will be viewed. just the diametrically opposed perspectives on these technology companies is something to behold. you've got everybody thinking it's an obvious decision that should be done. 45% of people think one thing should be done, and 45% think the exact opposite. emily: on that note, twitter has made the decision to ban president trump's account permanently. all the tweets from the past four years are gone, and

facebook has suspended him indefinitely but not permanently. do you think this was the right call? >> i am never going to second-guess the management team of the company, and i will tell you why. you have all of these people who say this is an easy decision, should have been done x years ago. it's easy to say that when you don't have to face the consequences of what is happening. it's easy to stand on the moral high ground when you don't have to think about the implications of what could happen later. there will undoubtedly be regulatory pressure got to bear on these technology platforms. i'm talking about facebook, aws removing parlor, which is going to be another potentially wild precedent. i think the ramifications these

companies are going to face that are probably bigger than what we might anticipate now, are going to be enormous, and i know that went into the decision-making process. there's all sorts of context you have when you are making these decisions inside the company, and those things include death threats against employees, threats of physical violence, and you have to balance all of these things when you're are trying to make a decision in real-time about what to do. for people to sit outside, throw stones and say whether they did the right thing or wrong thing, it feels like monday morning quarterbacking. it's obvious in hindsight. that's my perspective on this. i think a lot of people think it's an obvious decision one way or the other, and none of those people have the context that these management teams of

companies have. emily: the president's aides have been exploring alternative options like parler, which may never find another web hosting home, or gab. it has been suggested the president could start his own social network. do you think he could successfully do that at this point? dick: it's remarkably difficult to start a social network irrespective of the resources you have or the people you know or how well-financed you are. think about google and how much money and time and resources went into google plus, which is no longer with us. that sounds like one in a million, and not because of who the person is or what they think , but just because of how remarkably difficult it is for these things to get off the ground.

emily: twitter shares have suffered the last couple days. they recovered a bit today. there's concern president trump leaving the platform is going to hurt twitter. are you worried about that? dick: the notion that engagement metrics or ad revenue would go down as a result of the company taking some action, and that's maybe why they did or didn't do something, as your previous guest mentioned about airbnb, that doesn't go into the decision-making equation. it's easy to think that, and it's easy for people to look at this from the outside and say, they must be worried about engagement. that's why they let this person stay on the platform. it is, what are the downstream regulatory restrictions that are going to be brought to bear? what are the global political ramifications? there are heads of state of

other countries that say lots of horrible things on the platform. are our hands going to be tied or forced? those are the things that go into these decision-making processes, along with the threat of physical violence. it's much less about, we are worried about engagement metrics going down. i'm sure the company has some sense of what that looks like, but i don't think it went into the decision-making process. emily: it's hard to believe it's almost been a year since the pandemic began, and you joined us early on saying you are still a buyer in the public markets. we've seen market turmoil over the last few days. we face some uncertainty ahead given the administration changeover, what could or could not be a peaceful transition of power. are you a buyer in the public markets, and what are you doing in the private markets? dick: i think in the public

markets the risk is extraordinarily underpriced right now, almost surprisingly so. the market seems to ignore it. in the private markets, and you've got another guest coming on later, i think in the private markets, fintech continues to be underappreciated and perhaps surprisingly so given how well it's doing in the public market. you've got companies like square that are as public companies up almost 100 fold from their ipos a year ago, and there are a number of companies in the private market that we are super excited about and continue to be underappreciated in the private markets. emily: you mentioned an

alternative payment solution. where are you placing your bets, and how do you see the future of work of all vain given nobody -- evolving given nobody knows where we are going to be working , whether or not we are ever going to go back to the office. dick: it got dark for a second. i think we are going to go back to the office. collaboration tools and the ability to automate anything that was previously a manual process is going to be vital and critical because some percentage of work will be remote going forward. whether that is 10% or 95% remains to be seen, but it's not going to be close to 0% anymore.

software that automates global payments solutions, those are going to be invaluable, and the market is going to continue to grow. we love those companies. they tend to have not much churn at all. you tend to use them for more and more things. we've seen its annual top line growth has accelerated. irrespective of what happens with the future of remote work, as it were, it's going to include more things being audited and more collaboration tools. we are investing heavily into that space. emily: thank you so much for joining us. always great to hear your perspective, and on such an important day, founder of 01 advisors.

coming up, as he said, a firm almost doubling its valuation. going to speak to ceo max latching next. this is bloomberg. ♪

emily: we've got some breaking news. a posh mark, the secondhand marketplace, has just priced its shares, said to price at $42

apiece, above the marketed range. expected to start trading tomorrow, and we will be covering that. almost doubling in its public debut, the latest multibillion-dollar tech company started trading significantly higher than its initial offering price. joining me, ceo of a firm. obviously, this is a resounding endorsement of affirm, but you potentially left a lot of money on the table. what is your reaction to the day's events? max: we've been doing this for a long time. i think i have to agree when i say, i like to take the long view. i think it is important to know what it is all about. this is not a finish line, and we didn't leave something. we started a new leg of our

journey. we wanted to raise at least $1 billion. we wanted to tell our story and recruit lots of professional and retail investors to join almost a revolution in consumer finance. very happy about that. the market will do what it does. it will price us. i just really hope people evaluate our performance as a stock in increments of quarters and years, not in one day. emily: now you are a public company, and you've got to keep up the momentum. we saw this happen with airbnb. we saw this happen with doordash. are you at all concerned this puts additional pressure on the company to live up to high expectations? max: i think we have always been very clear and relatively

thoughtful. it's been in our dna to be transparent. what we think we are going to deliver, what we think we are going to build, and our job is to tell our story clearly and guide what we can do, and be held to account. it's my first day as ceo. ask me in a few months with the pressure is like. emily: we certainly will, max. we are in an incredibly volatile, unprecedented political climate. we have the president being impeached for the second time, the first president in history to be impeached twice. this impacts sentiment, and your customers are consumers, many of whom are suffering because of the pandemic. what is your outlook on the next year? max: i couldn't agree with you

more on that. we live in the strangest of times certainly in my memory. first of all, it goes without saying, but i will say it anyway -- what we witnessed in d.c. a few years ago is a disgrace. as an american, i take great pride in my citizenship. i believe in the tenets of democracy and the rule of law. the building blocks of this country are important to me as a private individual and founder. what we saw, i hope to never witness that again, and i hope we better as a society. that said, the dream i believed in was this idea that you can be anything and recover from any fall.

i believe our economy will recover, and a firm has a major part to play. we are excited to help in the regrowth of hopefully lost jobs i'm optimistic, but i am a semipermanent optimist by training and trade. emily: what is your outlook on e-commerce in general? we've got about 30 seconds left. on the one hand, we are potentially going back to a new normal, but on the other, we are in uncertain economic times. max: i'm convinced that the shift from off-line to online is not going back. i think we will go back to offices, but i don't think we are going back to shopping the way we did. the giant leap to online is here

to stay, and affirm is excited to be a part of it. emily: max levchin, as your first day as a public company ceo, thank you so much for taking the time. we will catch up with you in a couple of months. coming up, we will recap of where things stand in washington after president trump has been impeached for the second time. stay with us. this is bloomberg. ♪

emily: let's get to a few more top tech stories. a change at the top of intel. ceo bob swan is stepping down. he will be replaced. the world's best-known chipmaker has been under pressure from activist investor dan loeb to explore strategic alternatives. youtube has removed new content from president trump's channel,

citing concerns about the potential for violence after the riot on the u.s. capitol. the platform blocked his account from uploading new content for at least seven days while comments on the channel are indefinitely disabled. google says it is suspending all political ads from thursday to january 21, the day after president-elect biden's inauguration. recapping our top story, president trump impeached again. he now faces a senate trial. the u.s. house impeached him by a vote of 232-197 on a single charge of incitement of insurrection. how speaker nancy pelosi will be determining how quickly to send the impeachment to a trial. mitch mcconnell has rejected democratic leader chuck schumer's plea to bring senators back for an emergency session and start the trial before

january 20. we expect president trump to be in office on inauguration day. we will have the very latest here. do not leave bloomberg television. we've got "daybreak asia" coming up next. i am emily chang. this is bloomberg. ♪

>> they are still on the hold that on the whole more loyal to trump, today we saw 10 republicans and the entire house rake with their party. we saw some pretty strong straight -- statements and it is incredible that there were 10 republicans that broke with their party, but over in the senate, it is different. they do not think -- see reelection as often,