emily: -- . >> breaking news from bloomberg. joe biden's stimulus package, $1.9 trillion. let's look at some key details. a high of $350 billion in state aid --

$160 billion for vaccines for testing. $20 billion of that will go towards a national vaccine distribution program available to everyone regardless of immigration status. biden also pushing for $15 in our minimum age. he wants to renew paid leave rules. extending eviction and forclosur e moratoriums. many worried about what will happen to the economy when those -- i almost forgot. bringing in david westin. $2000 stimulus checks. in joe biden's package, $2000. they will now get $1400. david: which is something

president trump suggested should happen at the end. it is fair to say president-elect hyden says he would go bold and big and he did both of those. the question is whether it is so bold and so big that he might get resistance. kathleen: we have a perfect guest to discuss that, but before we bring that in, how are -- david: republicans and also moderate democrats. you need to bring along the joe mansion -- joe manchins. he was also the head of the congressional budget office. what is your initial reaction to this bold plan? >> it is notable in two ways. the most important is they are

not appealing to special procedures to get it through. president-elect biden is willing to negotiate with republicans. i think that will be interesting. these are all things democrats have had on their wish list. checks in the past month. we will see what can stick and what will make it over the finish line. david: you made a very important point. this is an opening bid, this is not where they think they will end up. >> that is exactly right. i think it would be a big surprise if they got exactly what they wanted. it is very controversial. i'll be interested to see if the republicans come back and ask

for some sort of business protection against liability from the virus. we'll see where this goes with this is an opening bid. some of this i think will be easily agreed to. a better vaccine distribution process is a national priority. i do not see a big problem with that. david: is it what the economy needs? obviously some of this is badly needed. obviously, the extra $1400. larry summers said somewhat controversially that is not what we need. a lot of people have a lot of money but they cannot spend it. doug: i'm with larry on that one. it is my least favorite part of this proposal. if it's intended as stimulus, it's not going to work because we cannot get the economy to function in the presence of the virus. if it's intended as relief for those with real financial stress, it is not well targeted.

it is neither fish nor foul and does not serve a great economic purpose. david: how do you think of these other components depends on how you think of this as stimulus or relief. if we continue to stress from the virus through the spring, it makes sense to extend on the plummet on insurance benefits another three months. if you believe the virus will largely be contained, that makes less sense. i think there will have to be some sort of discussion about their vision for how the public health and the economy play out over the next six months to may the case for this package. kathleen: great to see you. but is it fair to say that one of the most important parts of this package is the $160 billion going towards testing for the virus, going towards vaccine distribution. because another former, well, obama official, who is now at the university of chicago, says

if you do not get the virus under control, your stimulus is just going to keep washing away. do you agree with that? is this may be the beginning of the package? doug: i completely agree with that. we have big supply constraints on the economy. we have a big chunk of economic activity, which is high income individuals spending on services which is just missing, and it will not come back until the virus is controlled. if you really want a fully functioning u.s. economy, you have to do with the virus. that component is very important. as important of the money is the fact that the president of the u.s. will only distribution and implementation of the vaccine. that kind of residential -- presidential ownership and leadership is necessary for success. haidi: one of the other pieces looking through the components of this repose of, $350 billion for state and local governments.

that will be controversial because republicans will just say this is a bailout from mismanaged local governments. what could be the trade-off to get this through? doug: republicans keep pointing to the fact that it is not really -- it is not really been terrible on state finances. property values and property taxes have done well. a lot of the stimulus money showed up as taxable income at the local level. sales and services which have declined, are not heavily taxed. revenues held up better than expected. the states having trouble are states that relied on tourism and are just not seeing that kind of revenue come in. i imagine there will be issues with this. but you can put money in the vaccine distribution. a lot of states say we have a plan but we cannot execute it because we don't have the money.

you can give states help, given to the vaccines. the second one, where there is no dispute, there's an enormous amount of distress on bus systems. there's an enormous financial hole there. there's money in the package to help that. haidi: [indiscernible] as you mentioned, this will not go through the reconciliation process. you need 60 senate votes. is there a chance you look at this in its entirety and you think it is overreach? it's perhaps less prudent than what he should have gone for? doug: the proposal itself reflects not just the opening bid nature of it, but the experience of a lot of people who are staffing who were in the obama administration. they feel they did not ask enough early, so they don't want

to make that mistake again. as far as the tax, again, it's important for the president to try regular order and to give congress a chance to find a way to get the middle ground and do its job effectively. it may be the case that they want to come back and use this method. if so, everything i'm hearing is they are going to do that. [indiscernible] it's a real change in the atmosphere for an administration to pay for its proposals. david: what does a $15 federal minimum wage have to do with it? the whole idea was to have this specifically targeted to covid-19 and the direct aftermath. by the way, some moderate democrats, they get their hackles up over this. whether it is good or bad, it

does not belong in here. doug: i do not think it belongs in here. it's not stimulus or relief, it gets in the way of recovery in the labor market. so i expect that to drop out. whether it is strategically put in so they have something to drop out, who knows. but it's certainly something the president wants to demonstrate to his far-left that he cares about. that is a big issue for them. kathleen: in terms of this whole question of how long this lasts, what do we assume here and what we know about how this will be written? because you said if the virus suddenly is diminishing because vaccines are going quickly, then we say maybe we do not need stimulus now. how do the sides agree on some plan to make that part of it work? doug: i think there are pieces of it that it's really important to take a close look at. my understanding there is a

provision to extend paid family leave. is that something permanent? does it extend to the end of the declaration of the health emergency? is it three months, six months? one of the things that i think has been quite remarkable about this episode is that congress has responded on a large scale to the problems the economy has faced, but it is not added new permanent programs. so once this spending washes through, goes back to roughly its normal levels. if you add big, new permanent things in the middle of this, i think that will be a very contentious issue. trying to steer clear of that i think is pretty important. in terms of is a three, six, nine months, i do not think anyone really knows. and i think you're going to see the president and his team airing on the side of being generous and we will see how far congress is willing to go with them. kathleen: david calls this what looks like an opening bid as he brought even to the show.

you said yes, some parts will be tougher. where do you expect this to end up? what get dropped? where do you think the package concludes? doug: i really wish i knew the answer to that question because that means i would understand the politics of the house, the senate, and the next administration. i do not know the answer. i think the hardest answer is suppose you take state and local federal aid. i think some ends up in there. i don't know the number. some things drop out. i am not convinced the $2000 checks make sit over the finish line, given the objections within democrats themselves. there are some questionable items but there are some core items where you do think they will go through. the vaccines have to. the transit aid has to. there are pieces that will definitely stay in there. haidi: you don't have a crystal

ball? that is really disappointing. this is part one of two, right? because we are expecting bigger picture items to be addressed later down the track. health care, climate, infrastructure. those are longer-term things which will have an impact. what do you expect to see in that second package? doug: what is interesting about the second package that has been advertised as the place you do long-term things good infrastructure, clean energy and climate in particular, whatever pieces of health care they want to take on. but it has also been advertised as the thing they use so-called reconciliation, these special procedures that gets you a 50 vote threshold in the senate. those procedures do not allow you to create law fro whole clothm. lee allows you -- they allow you to use existing programs. some of the things they want to do our nonexisting programs. so that becomes a very, very to ugh squeeze as you try to put

more money into something and then use it for a new purpose and republicans object and gets tossed out of the procedures. for that reason, that is a harder piece of legislation to pass, even though the threshold is 50, and it is a slow process. so, that will take some time. this they want to do fast, which is why they have chosen the way they want to go. david: talk about the timeline. this looks like a very big, complicated proposal. there also happens to be something going on called impeachment, with a trial in the senate. as you look at the first 100 days, we are shooting at a moving target of covid-19. as of april 1, who knows what the pandemic will look like. how does the timing work for this administration? if it takes three months to get it done, it may be besides the point. doug: i think that assumes we have an effective vaccination distribution and that we are approaching herd immunity, and we can feel good about the outlook for the health mission. but if, as we delight actual

implementation of this, that does not happen, the urgency rises. it becomes much more important to get out the vaccine aid. it might be more important to give people continued support in the presence of an economy that is shut down by virus. so i think the key really remains the public health mission, and having some success on that. that is really where we are right now. we had a big spike in the spring, we are experiencing a very big spike right now. in many ways, they are faced with the same problem congress faced in march of 2020. there was a lot of uncertainty then, and we are facing again. kathleen: you have worked for republicans in the past. when you left that part of your career you founded the american action form is a bipartisan group. so, when you read the mood in washington for us, i know you said you wish you could figure out the politics, but you know a lot of people, you have talked to a lot of people. this hope that maybe there is more of a willingness now for the two sides to work together,

you said how interesting for a president to come in working to negotiate, has the mood shifted? are more people on both sides really willing to sit down and get something done? doug: yes and no. at the moment the town remains bitterly divided. and quite frankly, emotions are completely frayed, and a lot of people are walking around very distressed. that is not a great environment for something like this. but bipartisanship begins in the white house, because it is the only place that has the leverage to go to the other side and say, we know what is important for you, we will make sure it isn't. they have to -- make sure it is in. they have to go to their own side and say, i know you're going to be disappointed. if you don't have a president like that, you don't get important legislation through. it just does not happen. it begins with the white house. they are going to try. these are going to be old

muscles that have to be re-learned the congress, and i think it will be very interesting to watch. haidi: just before we let you go, talking about how you think we are going to pay for this, because we have heard from biden officials that they will not be looking federal borrowing with the idea that in the middle of this unprecedented pandemic and slowdown, now is not the time to worry about widening budget deficits. is this prudent as a way forward, buy now, worry about it later, sort of thing? doug: my sentiment a shared i think my most economists, is that all of the things that are being done to genuinely address the coronavirus itself and the fallout of the pandemic, it's absolutely appropriate to borrow, and we should not regret any dime of that. doing things that have nothing to do with that, that is concerned -- that is a concern. if you really think everything in there is needed to combat the

coronavirus, if so, then we will borrow it, we will have a stronger economy, which is the first step to having the federal budget recover, and then there will be real work in the years to come. and we will exit this episode with the highest level of debt relative to gdp. we'll have lower interest rates, but we will still have interest costs at a fraction of gdp, rising as far as the eye can see. that is not sustainable and at some point has to be checked. that is a minimal condition for a sovereign nation. in the u.s. has not done this in the 21st century. so there is some real work left to be done, even if we say we do not have to worry about it right now. it is still out there. haidi: thank you so much for joining us, douglas. let's take a look at the set up. markets about to open in asia. sophie, we are seeing treasury yields rising, a bit of a setback when it comes to risk

assets. sophie: not so much at the start of the session in asia. seeing slight risk on mood. kiwi stocks gaining some ground, futures pointing higher as we assess biden's stimulus plans, which may indicate some positive outlook for global growth. in asia, you have stocks headed for a third straight week of gains. watch for chip stocks today, which may get a boost on results. markets have been speculating about what may happen for debt supply and for inflation on u.s. stimulus plans. we're seeing whether that continues into the friday session. looking ahead, goldman has raised the year-end target for 10 year yield for u.s. treasuries to 1.5% from 1.3%, which also assumes the fed tightens policy earlier. fed chair powell did push back, saying changes to bond buying prices are a ways off.

commodity currencies did leave g10 gains. aussie dollar isla -- eyeing the $78. the aussie and the key we could still grind higher. the euro, a call for 127. unexpected policy changes under biden. the euro at $121.54 this morning. david: turning back to the stimulus package that is about to be proposed by president about i'd -- by president-elect biden. what is your initial reaction to what looks like a pretty big and bold proposal from the president-elect? guest: that is a great way to describe it. it is bold, it's definitely very comprehensive, focused on health care it big component of it, also almost every segment of the economy in some form or another.

you look at the state and local government, $350 billion, another $130 billion for schools to reopen and start, money for higher education. they have money for businesses, which is fantastically it the second round of ppp just opened up that this adds another hundred $75 billion for business grant money. i am quickly going through it but it is bold and reality. this is what the economy needs to get over what i would call the next five to six months as we move into the end -- not the end, because it doesn't end until we get everyone vaccinated, but we are moving down a path where we get a jolt into the economy, so we can get these small businesses and these families that have suffered through high employment. david: i have some news from you that will not surprise you. speaker pelosi, and about to be majority leader schumer, say they think this is the right approach. son of a gun, maybe they checked with you in advance and they

think it is a good idea. but what will republicans and moderate democrats think? is it too big and too bold to get done? mark: i think when you look at the $1400 additional per person, i think his issue, as we have heard more than once, is it's great to give it to folks who have loss of income. but people who have not have -- had lost income, he is not in support of that. i think there'll be a tug-of-war around that. in general there'll will be a definite tug-of-war on several items. but there is this feeling tugging on people right now that after this they have to start focusing on the broader picture of the deficit and how to manage the deficit over time as the last year has really driven that number up. it is a mixed blessing. i know this being back in the senate, when you go back home, you are kind of looking forward to it, until you get beat up by

her constituency and then you run back and you say, what do we have to do? they are back right home now, they're coming back after the swearing in of the new president. it may not be this big at the end of the day but i think it will still be a sizable number because people feel like this is the last big cares act kind of issue and then later it will be infrastructure, which is really about long-term investment for the economy. kathleen: i just want to share some more detail from the pelosi and schumer statement. they say emergency release -- emergency relief framework shows democrats will prime -- will finally have a partner at the white house who understands the need to take swift action. i asked earlier, if the vaccine distribution really picks up, and the virus really goes down, and the economy really picks up, is all this extra stimulus going to put in place, number one,

when the economy is getting ready for a solid second-half rebound, and two, when you have people like restaurant workers, terribly scarred by this, and more what color work from home people, are doing just fine? suggesting maybe it is great to be bold, but are we going to waste money that needs to go to other things? mark: i would say this, and i speak from a strategic advisor, but in our family we own small retail, we are in the hospitality and tourism business. even if someone says today that june and july will be better, people are planning today for their summer trips and vacations and all that activity. that industry, which is a significant part of our economy, is not going to see a full recovery, or even a significant recovery until next year. you cannot just go in tomorrow and flip your business on and hope it all works. it is almost a whole

readjustment of almost a full year of a shutdown. i would prefer the senators and house members look at this as a bipartisan approach. figure out that this is the last push. you have to keep the train on the tracks. and then, in theory i think you are right, the end of second quarter, may be the third quarter, the economy really starts showing signs that we need, and then it will take its own national -- natural progression. but if you do not do that, it could delay or drag the industry, or the economy, because some of these businesses survived through the winter, they survived the holidays, but january, a lot of retail and hospital businesses are awful. it's the worst season. so you have to kind of get to the survival mode of these next three months. then after that, i agree with

the. can -- the end of the second quarter, beginning of the third quarter, there will not be any need of stimulus in the future. haidi: we can only hope. mark: of course that is just my opinion. [laughter] haidi: it is everyone's hope. i'm wondering after the events of last week, do you feel like there is a bipartisan goodwill to get this through? mark: i think so. i think it's dicey. i think there will be some trading going on. in the business community, they are really interested in the liability issue. there are some big property owners who own a lot of retail space that has been nonpayment, and how we deal with that. the hospitality industry has been left out of the equation, that will be pushing hard. and i think it was a smart move, the bumped up the amount in the

daycare area. because if you want the economy to get back to work, we have to get the childcare, daycare system back in full force, because you cannot do without it. so i think there is going to be some trade-offs. the number might go lower, i think the business number might be a little low here, what's needed to recapitalize some of these businesses. they need it. a lot of businesses had minimal working capital before the pandemic, and some were just totally wiped out. and so, and there's going to be also a readjustment to the economy. from that perspective, democrats and republicans are going to have to think about this is not democrats, not republicans, but as americans, and what they do. saying that, that is my hope and dream. i always have more optimism than i should sometimes. but at the end of the day, i think biden is not going to mess around, and will work with the

senate to get a vote on this and move it. haidi: right. former democratic senator mark burgett -- mark begich. this is bloomberg. ♪

emily: recapping our top story, president-elect biden is seeking a $1.9 trillion relief plan in his first economic plan. this includes a $15 an hour minimum wage and $2000 in direct payments to americans who qualify. it also proposes $350 billion in state aid, 206 he billion dollars are vaccines and testing -- his team has consulted many

outside sources in the last several weeks. meantime, -- [indiscernible] the company is being fined -- joining me now for more, uber's top legal officer, tony west. the state is making the case that having this information will help them bring more perpetrators to justice, and prevent more things like this from happening. what is your response to that? tony: i think guiding principle that was guiding this appeal is we want to protect the privacy of sexual assault survivors and we want to protect the right of sensitive data. when you speak with advocat,

they tell you best practice is to not make the decision for sexual assault survivors. even when it comes to law enforcement. the best practice is to allow survivors to make that choice themselves. but i would note that we are not exactly sure why they are seeking this information. have never asked for this kind of information before. personally identifying information about sexual assault survivors. i think it is the extraordinary nature of this request is why it's not just uber having a back-and-forth. it's why so many other groups like rain, like times up, like no, all weighed in because of the damage it could survive -- it could cause to survivors. haidi: --

emily: the state is arguing if uber doesn't do this, it poses a risk to its drivers and writers. don't -- and riders. aren't the goals the same? tony: the goals are absolutely the same. this is not the state, meaning the state of california. this is a recommendation of one administrative law judge associated with the california public utilities commission which is the regulator for all rideshare in california. this is not like the district attorney, the attorney general's office. offices charged with investigating sexual assault and sexual violence. this is a public utilities regulator that is seeking data. to be clear, we give reams of anonymized data to them every year as part of our regulatory

obligation. we do not have any -- the administrative law judge said, listen, uber, we want you to give us categories a, c, b, and d. we will give you a, b, c, but you've never asked for d. so work with us so we can give you the information in a manner and a way that protects your privacy rights. we've tried for the better part of a year to sit down with the cpuc. we have been asking them if they would sit down with groups like rain, times up, other advocacy and expert groups and how to deal with survivors and are informed in trauma investigations. we asked with date -- that they sit down with these groups just as we did so we can come to an agreement as to how we produce

this information in a way that protects survivors. that is really the end game here. emily: i know part of the concern is that victims will not report some of these incidents if they believe their information is not protected. what do you think the timeline is here? when do you expect this to reach some sort of resolution? tony: well, we'd like to reach it sooner rather than later, because as you rightly point out, we have the same goal. we want to make rideshare as safe as possible. again, this is not an argument about whether or not we will give the information. we respect their role as a regulator and their right to request information. we simply want to do it in a way that protects the privacy of survivors. and so that is a conversation that we very much welcome. hopefully by filing this appeal,

that will give us an avenue to begin to have a dialogue with s uch anti-sexual violence advocates and with uber to try to get a resolution on this. there is one other thing i want to mention. the fine is astronomical, it's huge, and no one likes to pay a fine, let alone be fined. but what concerns us is the message that it sends. because this all comes after the voluntary point that uber published in december of last year, that was lauded at the time as a forward for corporate transparency. there was no lawsuit or no law requiring us to do that. we did it because it was the right thing to do. if you are a company grappling with that same decision and deciding whether or not to be transparent, and you see the reward for being transparent is a $59 billion fine, it sends a

very chilling message. emily: before you go tony, i have to ask you, given that we are at such an unprecedented moment in american history, you worked at the department justice, so nobody knows what the next few days before inauguration will bring. presumably we will have an administration changeover and a peaceful transition of power. how does an incoming biden administration packed uber' -- impact uber's top priorities for the year? tony: we're looking forward to working with the new administration on a whole host of issues, as we try to help cities and help the country recover economically. we think we can be part of the solution when it comes to the economic recovery. we think we can be part of the solution when it comes to health recovery. we just announced the other day a new partnership with moderna because we believe strongly that transportation should not bar

anyone from getting access to the vaccine. so we want to help educate people about vaccine safety, but we also want to make sure that there are no underserved communities that not adding that access which is why we announced 10 million free and discounted rise to help ensure the country gets vaccinated. we think there are those kinds of opportunities. emily: all right. uber's chief legal operator, tony west. always good to have you on the show. coming up, chip leaders debut their latest at ces. this week we speak with the ceo of a.r.m., simon segars. that's next. this is bloomberg. ♪ ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet.

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emily: ces 2021 may have been an all-digital affair this year, but its status as the world's biggest consumer electronics show remains unchallenged. we are joined now by a.r.m. ceo simon segars. anything in particular that was announced in terms of new technologies that got you really excited? simon: what was really impressive about ces this year was how much innovation has been on display. when you think the whole industry has been working remotely for over 10 months now, it has been incredible just to see how many new products were announced, and the fruits of the labor of a lot of hard work that has gone on over that time period. and we have seen that in our business. we have seen a lot of design activity going on, high levels of activity from all different

areas. we have seen that come through at ces. so it's been a demonstration of the perseverance of the technology industry. for me, it's been really impressive. emily: a.r.m. technology. -- dominates in smartphones, less so in computers. now you have apple making their own chips for mac. is this the beginning of anand glatch -- of an avalanche? simon: this can only be a good thing. it's an area where products have remained similar for a large time now. anything that creates a change is going to lead to new products in the market. more innovation, lower pricing, better performance, lower power consumption, and that is all good. so i look forward to a lot of innovation in that end of the market. emily: it is a similar story with chips in servers. amazon during the same.

bloomberg reporting that microsoft is as well. can we expect that all the big cloud companies will be using a.r.m. chips? simon: well, with the work that amazon has done with their processors, it really does demonstrate what can be done. there have been lots of big-name companies coming out with data showing how they are achieving better performance and lower cost, which is something you want if you are running many, many cycles in the cloud. and we have seen that internally in a.r.m. as well. we are doing design work and verification work that we do for an generation processors, utilizing the cloud to get that done. and we are seeing better performance, and we are seeing lower cost. so i think the work that has been done really does show what is possible, and we look forward to see that broaden out through other cloud vendors. emily: now, the markets had some time now to get used to the idea

of nvidia buying a.r.m. should we expect then the -- expect any opposition to the deal, whether from regulators or elsewhere? and can you give us an update on the timeline? simon: we are very confident a deal will close and we are moving forward on that basis. we are planning for it. we are a few months into the process, and everything is going just how we expected it would do. in terms of the reception by the market, obviously people when they see a change, they understand that. i spent my time talking to our partners about the future, and we believe that our future is going to involve more technology licensed through our existing is this model in a way that we have always done, and making technology available to the entire semi conductor industry through our open model. and that is what we are going to continue doing. nvidia has been consistent about that, and we look forward to a future where we are putting more technology into the channel, and that is ultimately driving more

choice for consumers. emily: all right. we will be watching. a.r.m. ceo simon segars. thank you for taking the time to join us. netflix has mates of central progress in adding women and minorities to its workforce. vaulting past silicon valley peers. in its first ever report on inclusion, netflix says women now make up almost half of its leadership. netflix also has a larger percentage of black and hispanic ploys than companies like facebook and google. though of course there is still work be done. i spoke down with netflix's vice president of exclusion strategies -- inclusion strategies, verna myers. verna: for an entertainment company that is part of a much larger institution or history, you've got to actually be very strategic. i think that is the one thing we are trying to do. we are not trying to be like, oh, let's have a -- let's just

do some recruitment, let's have a celebration of our differences. all this is not enough to really shift the reality of those companies, which is a dominance of white men, especially in lead roles. so one of the things we're doing is putting resources behind it. a lot of times companies have one person in my job, or maybe three other people trying to help things move. we now have 17 people on our team to cover the entire company. it's probably still not enough, but what we are trying to do is to teach each and every person, no matter what their role is, to how to see this work through what we call an inclusion lens. all the work you do, of the team you are creating, when you are hiring, when you are promoting, when you are bringing about a show, what are you thinking about with regard to who's there, who is not there, whose

voices are missing, how you create innovation. that is what we are trying to do in a comprehensive, strategic way, in every department of the company. emily: now, ted sorrento's, your -- ted sarandos, your ceo, says the best way to have diversity in television is have diversity in the writers room. take me from point a to point b. how does it influence what we see on scene? verna: it is such a good question. the bet we have is if we've got representation of difference inside our company, if those individuals are well-equipped and skills and understand inclusion, they will make decisions and choices that will show up in front of you. our work as a team is not to make the selections, it's not to decide what the right thing is

to green light, but to work with all of our creators. so we have a particular person on our team, we have three people on our team that are assigned to content, marketing, production, animation. their job is to create confidence to teach, and to coach individuals and leaders so every decision they are making, they are doing it through an inclusion lens. emily: i have heard from -- [indiscernible] -- but it's really hard. you hear the same people suggested for various products -- project. i am curious, what do you say to the folks who say it is so hard to find a, or they are all busy? verna: i think that that is a copout. and i think that people believe it. i also think what they are speaking to is that there is

true exclusion still in the industry and as a result, the people who are often used as go-to people are people you do not have to look very far for. the work that we are trying to do into an early -- internally is to help people remember if you want to see a group of people who are underrepresented, you have to look in different places and the -- than the places you have looked to find a dominant group, or those people who have made it into the industry. emily: netflix has a huge hit in "bridgerton," this most watched original series ever, including by yours truly. produced by shonda rimes. it examines race, gender, sexuality. what is it about the makeup of that team that you believe makes it a success? verna: we have brought in a

number of creators, from shonda raines -- from shonda rimes, mindy kaling, eva duvernay -- ava duvernay. -- the conversation is exciting because people have never seen this being discussed. have never seen this version of it. so we believe all that investment in bringing in these creators will make a difference in what people see, and how exciting that is. emily: my conversation with rene myers, netflix vice president of inclusion strategy. coming up, the south korean phone maker unveiling its latest flagship device, the galaxy s21. we will bring you

emily samsung debuted several new products at thursday's unpacked event, from galaxy smartphones to wireless earbuds, competing with apple's existing and future devices. for more of want to bring in mark gurman. mark, what stood out to you? mark: the biggest change was the pricing strategy. samsung has been known the last few years to start attire and phones at $1000. what you saw apple do with the iphone 12 lest he was come out with a high-end phones at $800. now samsung is doing the same. the new one comes in at $729 and $999 and the ultra at $1200. you're seeing $200 price jobs

across the board. that is the most interesting change. emily: the question is, can they compete with the iphone, the new iphones, and what apple has to come this year? mark: absolutely. i think these new phones will be a real hit in the android side of the world, especially with that $200 price drop. i think the new earbuds are certainly interesting. they added a lot of unique functionality, or i would say it was unique to apple, and now these are features samsung are using as well. their little tracker device where basically you can put a tracker on your wallet, your bag, your backpack, what have you, that is a precursor of something apple will launch in the first half of this year as well. so i think ultimately, a great list of new features, but price is the biggest differentiator is time around. emily: they have also removed the charger, like apple and

others are doing. do you really think that will have an impact on the demand? mark: i do not think it will have an impact on demand at all. traditionally, people who upgrade to the latest galaxy s phones are more techhie consumers, so they are likely people who have a charging system already in their pockets or their houses. emily: all right. so, when we get to september and fall, when we historically expect to see apple unveiling new devices, what are you already hearing about what is to come? mark: in terms of the next iphones, i do not think it will be a significant update. i think the iphone 12, especially in this covid period, apple will be able to push out a lot. so i do not think you will see them do that two years and around, so i will look for the more minor side of things. this is not a major update.

the back of the phone is pretty cool, they also have slick colors, a faster chip, but they are not reaching any new groundbreaking territory here. this is more of a price update. emily: quickly, what about the earbuds? mark: the earbuds come a lot of features you have already seen on the air pods pro. it has noise canceling. it will be able to tune out the noise cancellation automatically. that is not something apple has. that is something i think is very cool. they are priced about $200, $50 less than the airbus pro, probably -- the airbuds pro. emily: thank you so much. mark gurman, we can always rely on you to give us all the special details. thank you so much for joining us. and that does it for this edition of "bloomberg technology ." i am emily chang and san francisco. bloomberg daybreak: asia is coming up next. this is bloomberg. ♪ this is bloomberg. ♪

haidi: good morning i am haidi stroud-watts in sydney. we are counting down to asia's major market open. kathleen: i am kathleen hays. joe biden has asked congress for a new covid relief package worth almost $2 trillion, a test of his relations with a split senate. we hear from the president-elect live in the next hour. asian markets hope to make