haslinda: -- emily: i'm emily chang in san francisco and this is "bloomberg technology." the biggest tech companies set to report earnings this week, including apple, amazon, google, and facebook. this as president biden's team continues to shape up. how could a biden administration shape the internet? we have early clues and we will discuss.

plus, google is throwing its massive resources behind the mass vaccination effort, opening google offices for shots. and flagging vaccine sites on google maps. the chief health officer joins us on the new $150 million effort. ransomware was the number one cybersecurity threat in 2020. what will it be in 2021? what sectors and government agencies are most vulnerable? we will hear from an official. all of those stories in a moment, but first u.s. stocks gaining, led by tech shares. some of the biggest tech companies this week. kriti gupta, walk us through the day. kriti: we saw the defense of trade take place in the market today. a lot of nervousness around the $1.9 trillion deal biden has promised. this idea that maybe that deal couldn't come as soon as it was promised. you look at some of the indexes. the s&p 500 underperforming the likes of the nasdaq and new york

faang index. companies really outperforming. the russell 2000 small caps, essentially the beneficiary of the stimulus bill underperforming today, showing how much nervous is -- nervousness there is spirit let's flip up the board. one of the other pieces of the nervousness was the idea that biden has talked about a delayed vaccine rollout, some hiccups in that process, as well as reinstating those travel bans across the world. you are seeing moderna, pfizer , astrazeneca all in the green. moderna outperforming after saying the vaccine protects against two known virus variants. flip up the boards one last time and it brings us to the stock of the hour, one of the biggest stories of today driven by retail traders, gamestop in three days, nearly 100% gain to the upside by retail and then pulled back and still able to maintain 96%. this really shows you the power

of the retail trader and how the amount of short positions that were against the stock have really been squeezed out. emily: that volatile and remarkable gamestop rally is one to watch. thank you so much for that round up. as i mentioned, this week we will continue to see big tech results. tuesday, we will hear from microsoft, amd and texas instruments. wednesday comes apple, facebook, and tesla. earnings season at an awkward time as the relationship between silicon valley and washington, d.c. kicks off. president biden has promised to get tough on tech, but the question is how? i want to bring in austin carr. he wrote about the a lot -- evolving relationship. austin, walk us through the clues we actually know so far. biden had not talked a lot about tech on the campaign trail but it has been in focus. reporter: yes, because joe biden

did not talk about it too much on the campaign trail, you are seeing people trying to read the tea leaves of his digital agenda based on the appointments they are making, whether it might signal coziness between the obama administration in silicon valley, largely seen as friendly with big tech, or whether he will be a lot more aggressive and mark a new chapter between the beltway and big tech. interestingly so far, we have a number of roles for people with ties to google and amazon, and there were apple executives on the transition team, which would signal a continued coziness. at the same time, joe biden has designated the acting chair of the sec, who is a strong advocate for net neutrality on the digital side. that is likely one area were big tech in washington can work together on. another acting chair designee would be rebecca kelly slaughter. there was a great article on

bloomberg talking about how she has been an advocate for consumer privacy, strong data protections, which would likely raise some alarms for a company like facebook. and then more recently, we had reports of the white house concerning the antitrust czar. there is an fcc commissioner reportedly in the front running for someone who served as legal counsel on the antitrust committee's investigation, which again that would be another signal that he may may be more aggressive on raining big tech in. but a lot of this is tbd. that's why people are reading the tea leaves because there has been a vacuum of information on tech policy from biden during the campaign. emily: right. you mentioned the big one. the acting s.e.c. chair at the moment has been on this show a number of times. as you sent them a big supporter of net neutrality. and then there is rebecca kelly slaughter at the ftc. two organizations that will have quite an influence.

the big question now, not just the power of apple, google, facebook, amazon and twitter, but also deep platform in -- d e-platforming president trump banned from twitter. , there is the concern about the power of these companies. not just from republicans but on both sides of the aisle. i wonder if that makes it a unique issue here. we spoke to roger mcnamee of elevation partners who says biden has no choice. he cannot avoid tech reform. what are the signals we got from joe biden on the campaign trail? i know he took some actions on facebook and made critical remarks, but it wasn't necessarily a distinct fear. reporter: yes, it was definitely not us concrete or aggressive as the elizabeth warren wing of the party in terms of talking about breaking up big tech companies.

biden talked generally about the arrogance that silicon valley has. he really focuses a lot of his criticism on what he calls abuses of power by social media platforms, reserving a lot of ire for mark zuckerberg and facebook. the most specific thing he talked about was him supporting a repeal of section 230, which is the legal shield that protects internet companies from liability of content published on those platforms. so, yeah, the question remains though, will that be something they actually pursue more seriously in the coming months with covid-19 being such a focus of the administration? or will that take in the longer to get to? likewise, how much will he support the antitrust enforcement to which he has some bipartisan support? but again, we have not heard from joe biden in terms of how

he will support those efforts, although the big tech earnings coming up might change all of that. emily: right, and these companies's stocks have continued to climb even as the rest of the economy has suffered. how do earnings happening this week kick off the relationship, and could that impact the dialogue? reporter: these companies, just between apple, facebook, google, and amazon, they collectively delivered $67 billion in net profits the past two quarters, even while so many parts of the economy are struggling. that will put a ton of pressure on biden to respond to these issues and maybe set the tone for how he is going to deal with silicon valley in the next couple years. amazon and apple, analysts expect them to deliver as much as $100 billion a quarter each, which is massive compared to the struggles other parts of the economy are seeing. with trump, you saw him taking credit for those strides.

the question remains whether that will be the right tone for biden to strike silicon valley or that will put pressure on him to rein them in, be more aggressive, and say these companies are too dominant at a time when others are struggling and we need to be serious about raining them in -- reining them in. emily: all right. austin carr. i urge you to check out his newsletter. so much to come. coming up, google is investing $150 million to make sure they say we all have equal access to vaccines. we will talk to google's chief health officer dr. karen desalvo next. but first, california governor gavin newsom talked about lifting the stay-at-home order. take a listen. this is bloomberg. gov. newsom: at the end of the day, we continue about this to battle this remarkable moment and surge, the most difficult surge we have seen since the beginning of this pandemic. the good news is we are seeing light at the end of the tunnel.

not just the light that vaccines provide but light as it turns to

emily: dr. anthony fauci earlier spoke today at an event in davos. our editor-in-chief spoke to him. let's take a listen to what dr. fauci had to say. president biden: i think it will be this spring. i think we will be able to do that this spring, but it will be a logistical challenge that exceeds anything we have ever tried in this country, but i think we can do that. i feel confident that by summer we will be well on our way to heading toward herd immunity.

emily: obviously that was president biden, not dr. fauci. but additionally, very important information in terms of where the biden administration sees the pandemic at this point and our ability to fight it. the world's largest search engine is now throwing its massive resources behind the mass vaccination effort. google has announced it is pledging $150 million to promote vaccine education and equitable access and will open up some of its corporate offices for use as vaccination signs. joining me now for more, the former assistant secretary for health under the obama administration, dr. desalvo. a lot happening here. you are offering your sites up as vaccination sites as well as flagging them on google maps maps and google search. talk to us about why you think this is how google can have the biggest impact.

dr. desalvo: thanks for the time today. google has been supportive since the beginning of the pandemic for public health. people have been coming to us every day for information about health and particularly wanting to know how to protect themselves and their families. so in a number of ways, we have raised information and this vaccination effort is another cycle of putting forward information for the community when they come looking forward. it is to facilitate everyone getting vaccinated because as the community goes, we all go. the announcement we made today is the way we can provide resources to authorities, local community based organizations, often the most trusted on the

front lines of the community, so they can get the information they need about if they are eligible for vaccine, to build confidence, and when the time is right for their return, they will know where to go to get the vaccine. the availability of vaccination sites all across communities, not just those that google will make available, but of course any local facility that will vaccinate people in the u.s. and eventually worldwide. emily: let's talk behind what you hope will be faster just a -- about the $150 million that you are putting behind to help what you hope will be faster distribution of the vaccine, more equitable distribution of the vaccine. how can you ensure the money will do that? dr. desalvo: one of the things we know we have a responsibility in is around good information in general, but especially around vaccines. one of the important ways to get people to understand whether

they are eligible, answer their questions about vaccine safety, understand how vaccines are made, what is the regulatory pathway that's normal? we want to help those agencies who, that is their job as a former frontline public health official, in new orleans, it is really important that our message get out to the community and that they look to the local pastor or local worker at the community health. some of the resources we are providing will help and provide -- amplify the messages and information local communities want to share with those trusted community members they have. that's one part of it. we are also working on important equity work. we want to bring forward information to help us understand the world and especially the country, how we are doing in terms of equity. are we making sure the vaccines will reach the right populations who are higher risk?

we are partnering with them as a way to bring data and information to give insights to public health and how to target vaccination campaigns. the last piece i would call out is this opportunity to make sure local frontline organizations are the last mile, they are the place that community members will turn to to know that they can get vaccinated, and to answer those questions. while we put information on search and geo and youtube, i also know as a doctor, those questions that are asked in the exam room, any answer that we can given that moment of decision making that is another way we want to be helpful to the world so that everybody can get vaccinated when it is their turn. emily: now, as a doctor, we hear president biden saying he can do the for 100 million doses in his first 100 days. we are seeing these models that say the u.s. will be fully vaccinated by june or july. does that all sound realistic to you? when do you think this country will be fully vaccinated?

dr. desalvo: emily, this is no doubt one of the most challenging things we will ever try to do in the history of mankind. we are trying to reach anybody on the planet with a vaccine. it is not just one vaccine. i think because of the remarkable compliance, we have a number of candidates already available in the field and some in the pipeline. i raise that just to say that i want people to remember there are a number of vaccine candidates that can be made available for vaccination, but it is vaccination part that saves lives and getting people on the front line to have got shot in arm. that work requires logistics and making sure the supply chain works well and we have enough medical glass and the right syringes. it also means people have to be ready to receive her they have to have confidence in the scientific and regulatory process.

if they have questions, they have somewhere to go for answers. for some people, it will be the cdc. for others, it will be the local doctor or local pastor or health worker. it is a complex operation we are trying to undertake and that is why google wants to do our part. to me, this will be an opportunity for everybody to lean in and the public and private sector to put forward what they can, whether it is facilities, information, or resources so we can get everyone vaccinated in a timely fashion. emily: we don't have much time left, but this is a really important question. how do you feel, as a doctor, how satisfied are you with the efforts google has made so far to combat misinformation? not just google itself, but also youtube? dr. desalvo: i joined google a year ago and my background in management and public health has -- was an amazing opportunity to

marry with the technology here. what i realize, the millions of people that come to us for information every day, we take that as a serious responsibility. not only do we want to raise information from the cdc local health agencies, but we want to be on the lookout for this misinformation. some of the really important work we do is seeing we are getting in front of misinformation, and especially in services like youtube, whether we are helping to remove it if it's harmful, or creating content with influencers so they can bring that data to the communities. so we consider it a major responsibility and are doing great work across the world to address not only misinformation but bring forward all the information and we will keep leaning into this pandemic and beyond. emily: youtube recently hired a doctor to strike some partnerships and get more of that quality information, online partnerships with mayo clinic, the cleveland clinic. do you think the secret to this

could be google bringing in more health experts like yourself? dr. desalvo: we have been building up our in-house clinical expertise. we also know it is a big world and a diverse world and to have truly inclusive health information, that we will have to rely on partners not just , what we can build in-house. we are really grateful to those who have been willing to partner with us through youtube. we are going to do the same that we have in the past, even before the pandemic and working with groups like the national health service or the cdc or mental health agencies in the u.s. when people ask questions about diabetes or depression, they have a pathway they can navigate that brings them to authoritative resources. google just needs to help amplify the good information created by these public health and other groups. you are seeing us on the

beginning of a journey, wanting people to be a great partner to public health and medicine and we look forward to continuing that after we end this pandemic. emily: dr. karen desalvo, google chief health officer, we hope it works. thank you so much for joining us to talk about what google is doing to help. we will have more "bloomberg technology" after the break. 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. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business.

>> there are a few things that are really complicated and overlapping that explained almost the unimaginable, that a very, very rich country, which before the outbreak was judged by a number of evaluating organizations to be the best prepared for a pandemic, actually got hit the worst. and i think what it reflects is i hope things that we can learn lessons for the future. first of all, something deep that the prime minister mentioned. we had the opposite. we had a situation where instead

of concentrating from the top on the science and realizing that we must make decisions based on data and evidence, there was a considerable amount of mixed messaging about what needed to be done from the top down. that really cost us dearly. the other thing that may involve things going on in other countries, but certainly intensively going on in the united states, it makes it extremely problematic to adequately address a public health crisis when you are in the middle of a profound degree of divisiveness in the country. when public health issues become politically charged like wearing a mask or not becomes a political statement, you cannot imagine how destructive that is to any unified public health message. >> do you think that in the end

, the biggest weakness of america is a health-care system which is designed to look after the old and especially the rich, that any pandemic was bound to expose something given the fact that america does not have a public health system on the same level the country is -- as the other countries represented here? dr. fauci: the pandemic, as you alluded to i think in hinting, sheds a very bright light on the weaknesses of society. for us, it did one of the things you are alluding to, the deficiencies of our health care system, which really needs to be strengthened at multiple different levels, for the reasons that you are hinting at. the other thing that it shed a bright, embarrassing light on is the extraordinary disparities we have in health, where in our country, similar to other disease, a vastly disproportionate amount of suffering among our brown and

black people or minority populations, in which the incidence of their getting infected is much higher and their degree of hospitalizations, intensive care , and death is significantly higher than the general population, related to the social determinants of health ingrained in our society since the very beginning. ♪

>> welcome back to bloomberg technology. i'm emily chang in san francisco. the silence from president trump has been deafening, almost eer ie. he's been suspended from facebook, after rioters overtook the capital. imagine if the companies had blocked him sooner. on the other hand, should these companies have this much power at all? with me is our capital managing partner who focuses on sustainability. it is an interesting

hypothetical and the silence almost underscores the power twitter and facebook have. if he was on those platforms, i doubt it would feel this quiet, don't you? natasha: yeah, i think this is a welcome calm for a lot of americans who were, frankly, horrified a couple of weeks ago with the insurrection at the capital and that was the most vivid illustration of what investors had been warning about. the dangers of hate speech, the promotion of violence on social media platforms, and that didn't happen overnight. we saw trump sow this information about the election for a long time and hate groups start organizing, long before january 6. trump became catalytic, right?

that is the problem we see, how quickly hate and disinformation can be amplified through social media engine. as a citizen, i'm concerned and i'm also concerned as an investor. emily: so do you think these companies should have this power? natasha: i think it is a complicated question and what we have right now is absolutely not working. we've been asking social media companies to address content governance since 2016 when it was the russians sewing disinformation, not the american president and here we are now five years later in the wake of a deadly insurrection. i wish these companies had responded to shareholder concerns earlier but we are continuing to push for change and when we think about what is going to happen with a new administration and regulation, i

think the power of these companies is being questioned, no doubt and we've been ringing the alarm bells on leadership and how much partner is in the hands of these companies, and particularly when you look at facebook, how much power mark zuckerberg has, we've seen these companies now kind of show some action, show up and take down trump's friend count, but frankly, it was too little, too late and the storming of the capital happened on their watch. emily: on that note, here's the other question. do you think they should have taken him off of platforms sooner? was the last year -- would the last year have been different? and this is totally hypothetical, could we have avoided that insurrection at the capital? natasha: i think there's been so many warning bells throughout

the year, even when you saw last year during the black lives matter protests, trump tweet when diluting starts, the shooting starts and that in and of itself is glorifying violence and social media companies have taken the position it is important a world leader be able to express themselves and flag and say this isn't right information, etc. but what was really staged over the last few months was a disinformation campaign that then spread throughout social media and so i think the companies should have acted sooner because it is not just the companies that were threatened. it is the fundamentals of our democracy, and i think they are in a tricky spot in the fact

that it is the president. emily: if you are just joining us, we are also watching live shots of the u.s. senate starting to vote on the confirmation of janet yellen for treasury secretary. we are expecting this to happen with no problem, but, of course, continuing to watch as that live vote happens on the senate floor. we will bring you updates as we have them. speaking of, we are seeing president biden's cabinet shape up, new appointments when it comes to the acting chair of the fcc, the acting chair of the ftc, we are waiting for those posts to be officially filled. even with all of these issues you see, what action would you like to see the biden administration take on tech, especially social media companies? natasha: i think there are two actions i would like to see. one, i would like to see the

companies themselves take the action of improving leadership. we've asked them to add human and civil rights experts to their boards so it is the leadership that is addressing these issues. in terms of looking at section 230, which is the rule that protects internet companies for legal liability as to what is -- for what is posted on their platforms, that needs to be addressed so that there is some level of accountability. and frankly, it has been a strikingly bipartisan idea that social media companies need reform. of course, trump and biden have both called for section 230 to be revoked with different motivations. but there's common ground that there should be common sense regulation. and so, you know, i -- it's not a simple question. there's this sort of dichotomy that's set.

are these companies commentariers and anything flies or are they publishers with editorial judgment? if you look at social media companies, they are akin to a bookstore. they don't have to carry everything. they are not common carriers, but they also don't need to put everything in the front window and treat everything the same. when content that is promoting hate, when algorithms are giving that oxygen, that is editorial judgment. so it's going to take real expertise and some grownups in the room to get this work done. we just saw biden appoint an acting chair who, if named, would be the first woman chair in the history of the sec.

-- fcc. she said she doesn't want any change to section 230, but it would not happen through the fcc. it would happen through congress. we need a bipartisan approach to this issue so that our democracy isn't under attack again. emily: you're right. jessica rosenworcel has been on this show a couple of times in the last year and has said she doesn't think section 230 falls into the purview of the fcc. it would have to be undertaken by congress. others might disagree. that is a signal and we will be watching to see who gets that official spot in the chair position. natasha lamb of arjuna capital , thank you for joining us. we continue to watch the senate floor where they are voting on the potential confirmation of janet yellen as the nation's next treasury secretary. we will keep you updated on that as the vote continues. coming up, is silicon valley losing its luster among venture capitalists? we will talk with someone who

predicts the bay area share of total deals in the u.s. is going to fall. 20% for the first time ever. that is next. this is bloomberg. ♪

emily: countless cities have spent years trying to sprout their own silicon valley. talk of a so-called tech exit is from california is reaching fever pitch as some companies are relocating to places like austin and miami. pitch book is warning venture capital is trickling out of the bay area. joining us to discuss, the pitch book director of institutional research. thank you for joining us. you believe that deal count, the

share that the bay area claims, of deal count is going to decrease. what are you seeing? >> i think if you take a step back and look at the broader industry as a whole, particularly 2020, you saw $290 billion come back to institutional investors via venture to backed exits. we expect a lot of the capitol to come back to the market. what we saw in previous years, we started to see funds being raised in different ecosystems outside silicon valley, whether that is in michigan, florida, where the midwest in general. i think what we saw in in 2020, was a pull-through of transaction flow starting to happen in those cities at a bigger clip. what it takes for those ecosystems to be successful is they need a lot of larger nominal outputs from the dollar perspective and while we haven't seen that significantly yet, we are starting to see more

early-stage investors make their way there. covid-19 created this pull-through effect of creating a lot more viable targets from an investment perspective and we think that will continue to push forward over the next couple of years which will equal bigger outcomes to those areas. we think we are in the early stages of this shift happening, covid-19 has propelled it forward. the total dollar value will be higher in silicon valley, but we will see more companies funded in outside regions picking up in the next couple years. emily: the external environment is changing. spac's looking to acquire tech companies. there are concerns that it could increase valuations and impact the venture-capital landscape. what do you expect to happen to deal flow and where the dollars go? >> if you think about spac's,

you are adding another element of innovation, it allows for different liquidity options to the traditional ipo, m&a, or buy exit avenue. when you look at the venture backed ecosystem, we talked about lake -- late stage companies that can make it through a -- airbnb, the uber, the slacks, who can make it through public listing. there are a number of cup knees who are not large enough to take a risk from the pricing perspective or to a for the -- be able to afford the process of going through with an ipo, so we have seen private equity jump in a bit and spac's is another added innovation that allows these companies to move forward in a public setting and raise more capital and increase their brand. we have seen nontraditional investors play. that includes asset managers driving a big portion of lead transactions in venture backed transactions in the last couple of years and that continued in 2020. the spac market allows a lot of

these investors have been involved, which we think will continue. i don't think that it will drive valuations for some of your good, solid companies. there are some outside companies like in the mobility space where we see that, but in general, it provides another valve for these companies to find liquidity and to add more innovation to allow a lot of these venture backed companies to exit. emily: the senate is voting on the confirmation of janet yellen as treasury secretary right now. speaking of president biden's filling of his cabinet, he has unveiled his economic plan but we are in the middle of a recession. a lot of folks have lost their jobs. tech companies are among the few that have done well through the pandemic. how do you think a new administration will influence where folks put their money? and place their bets right now? >> i think the industry has done a number of great things over the past few years to elevate its brand and the role that it can play for the u.s. government and for the country as a whole.

from an economic perspective. if you think about where venture investors are spending a lot of their time and allocating a lot of their dollars, you are seeing that in technology and health care. those have always been hubs and stores of capital in the venture industry. as we move through the pandemic, we saw health care, biotech, and pharmaceutical receive ample investment from venture. i think we saw technology accelerate and smooth out the volatility you might have had in terms of working from home and as you move forward, you will see an administration that is more friendly and willing to work with the venture community. they have done a lot to make sure they can work closer together. if you think about climate change or pharmaceuticals, a lot of that will be driven by venture-backed companies. i think there is a lot of good synergy between this industry in a way that hasn't existed before for the u.s. government and the administration will take the

well to that. emily: nizar tahuni, director of research for pitchbook, thank you for giving us your outlook. we continue to watch the senate voting now on the potential confirmation of janet yellen as treasury secretary of the united states. the vote is ongoing. we will bring you any updates as we have them. still ahead, president biden is asking for more money than ever to defend the united states against cyberattacks in the wake of solarwinds. we will speak to a cybersecurity expert next about what the administration needs to do to safeguard america in cyberspace for the next four years. this is bloomberg. ♪

emily: we are watching live pictures of the senate floor where the senate is voting on

confirmation, potential confirmation of janet yellen as treasury secretary of the united states. she would come into office with a full plate of issues. the u.s. economy is in a crisis. millions of people have lost their jobs. no small amount of work for her to do. we will bring you updates as they continue to roll in. in the meantime, president biden has requested a 10 billion dollar investment for information technology modernization to protect against cyberattacks, far higher than any previous request. this as cesa rolls out a warning -- public awareness campaign to fight a plague of new ransomware attacks which the agency says are increasingly threatening public and private networks and costing billions of dollars a year. thank you so much for joining us. what are the biggest threats

this administration is walking into and why would president biden need more money than ever? >> emily, there is no shortage of fantastic threats out there. you have nationstates, foreign intelligence services, cyber criminals, miscreants, and troublemakers. there are lots of threats out there, and lots of exposure. our country uses technology in every way, shape, or form, so there is a lot of exposure that needs to be shored up. emily: where do you think the money should go? where should it be invested and how should he use the resources he has at his disposal? amit: in the current proposal, there is a lot of money being requested for i.t. and modernization. that should come as no surprise. you see a lot of legacy systems which over time become increasingly exposed. they are not maintained. today are not patched when new vulnerabilities are discovered. those systems are not managing a

ed, in many cases, in a professional way. they end up becoming exposed. vendors stop producing patches after a couple of years. a lot of money appears to be going toward awareness. a lot of money appears to be going toward modernization. those are some of the fundamental things which are required. again, this issue is crosscutting and it will require a tremendous effort on the part of the federal government and in the private sector where so many of these systems reside. emily: it looks like janet yellen has the votes she needs from the senate to be confirmed as treasury secretary of the united states. this would make her the 78th treasury secretary of the united states of america, the first woman, of course, to hold the job, and only the second american to have run both the federal reserve and the treasury

secretary of this country. also, the first woman to head the u.s. central bank. she left in 20, but oversaw a winding of monetary stimulus policy. a full slate of issues. the economy in recession, millions of americans have lost their jobs. we expect janet yellen to become treasury secretary of the united states. she has the votes in the senate. amit yoran, still with us, talking about cybersecurity. we are seeing president biden's cabinet being rounded out. we are waiting for more appointments on the security front. i wonder what your advice is to the biden administration when confronting an unprecedented threat landscape. amit: any incoming

administration at its core needs to recognize that cybersecurity and technology risks are absolutely critical across the board. it's true of every federal department agency and of every major sector of the economy. all organizations, all enterprises leverage technology in a way that makes them more efficient. that efficiency and use of technology also make them vulnerable to attack. so we've seen lots of examples. over last year alone, nearly $1 trillion of loss because of cybersecurity breaches. this is something the administration has had the opportunity to address head on. emily: you put out a study that 77% of companies say that they expect attacks to increase. of course, we are on the back end of this solar wind pac. it is still unfolding, and i wonder what kind of alarm bells

it raises to you about rising threats in the supply chain which can be really difficult to prevent. amit: 77% see the breaches increasing. 94% of organizations have suffered a business impact and breach in the last 12 months. 77% expected that to increase over the coming year. that is significant. what that tells us is that boards of directors and corporate leadership needs to get engaged. they need to realize this is not something that technologists and the organization deal with but something that has a significant risk to the enterprise to be addressed and managed and understood at the corporate level. emily: what do you think is

going to be the defining theme of 2021 in cyberspace? obviously, we're in a new administration, a different political landscape, but also dealing with the global risks that have divided the united states and global allies as a result of the last administration? amit: from a technology and cybersecurity risk perspective, i think the greatest theme and opportunity in front of us really circles around this concept of transparency. we have a lot of individual states which have reached breach notification requirements. that is around the compromise of or the disclosure of personally identifiable information. it doesn't require in many cases, other breaches, which may be quite material, to be disclosed. that means we have organizations

which are underreporting breaches. we don't have a true assessment and understanding of what the threat landscape looks like and what the true cost us as a nation is. emily: we will have to leave it there. ceo of tenable, thank you for joining us. this is bloomberg. ♪

yousef: this is bloomberg daybreak, middle east. markets slide as investors weigh the size and timing of the new u.s. relief program. president biden open to negotiations but stressing the need for speed. xi jinping calls for global cooperation and an end to what he calls --