emily: i am emily chang in san francisco. this is "bloomberg: technology." my exclusive interview with microsoft ceo satya nadella. how my -- the pandemic has changed what it means to go to work. he will introduce the product he says is microsoft's next big

thing. plus, richard branson's virgin group planning to go public. and ceos in spain, the founder of shift for payments, has paid an undisclosed amount to participate in a spacex mission. first, u.s. stocks hitting a record as a slew of companies report earnings. >> you did see a risk on day but all the action seems to be after the closing bell. a lot of earnings hitting the wire. let's stop -- start off with snapchat. you are seeing a little bit of a pullback. revenue and daily users feeding

estimates. company saying the revenue will accelerate this year. even with that, they are expecting unpredictability in 2021. peloton in that same vein. also eating estimates but saying it cannot keep up with surging demand. they warned of a profits flee. investors not liking that. activision had a different story. you saw them beat their expectations. not only in the fourth quarter but the 2021 forecast. tying their strong performance to strong names like call of duty and bonus canty trust -- candy crush. pinterest, strong quarterly sales beating estimates. another boost. we will look at what happened today, the nasdaq hitting a record high after look at this,

three days of gains. this will be the fourth straight session in positive territory. outperforming even the s&p 500. emily: but no gains for gamestop. closing at $53 a share today. is the rally over? >> it kind of seems like it. you saw an 80% drop just this week. but this does not mean retail bid is over. it is over potentially just for the stock. you kind of see them shift focus to biotech instead. i want to bring your attention to two stocks cutting retail love. gaining at 33% and 43% respectively, the stocks on your screen. look at them again retail bid it is not gone. it has just gone to a different

place in the stock market. emily: thank you for that round up. we will keep watching tomorrow. now to my exclusive conversation with satya nadella. like his peers -- it's peers, microsoft has seen massive growth in cloud demand. it is the employee experience in the remote environment that has captured no della's -- na della's attention. microsoft unveiled viva today. >> one of the things across industries is how do you connect people? if you have someone in the front lines and an engineer working from home, how do you connect? the team's growth was not just about knowledge workers collaborating but helping front-line workers and knowledge

workers come together to keep the business continuity in our society and economy going. i shudder to think what the economic activity would have been or what the state of services that we all have today would have been, but for the state of today's technologies. that cloud architecture. teams has been a massive growth story for us mostly because of the context of the constraints. emily: now you are on to what you believe will be your massive line of business. ask what -- employee experience. >> the pandemic has shined the light on how important the experience is for the employee. when you are remote, you want to be staying engaged with your business and company and its sense of purpose and mission. you want to be able to

collaborate between the folks in the front lines and the knowledge workers. he want to be able to actually start learning as a new employee, how do i build that knowledge capital by learning from others when i do not have some of the same social structures? i have to be able to find them online, learn from them. as well as learning needs to be delivered with workflow tools you use every day. one thing we learned about is well-being. even the commute practices, what transitions helped create clear demark asian's between work and life? those have gone away. we have had to introduce things like virtual commutes. putting these things altogether, the employee engagement, learning collaboration, into one experience, platform, is what

viva is all about. it represents a new category creation moment. if you look at the journey we have been in, we started with individual tools. it became a collaboration suite. we think it is really going to get into a new space around employee -- not just productivity but learning and well-being and collaboration. emily: if you spend your whole day in teams or word or outlook, are you putting those all in one place question mark -- one place? >> it is the opposite. use the tool you are using for any of your communication needs. in the context of that, let us bring in the other people you want to work with. the learning content that is going to make you more productive. the well-being not just that you need to make sure you have the transition.

that is the main purpose of an employee experience. to not introduce one more experience you need to go to but to bring an experience you need any tools you are using every day as part of your work. emily: how big could this be? your next $10 billion business? >> in some sense, 30 years ago if you look at it, we introduced over the world was introduced to erp or enterprise resource planning as a category. accounting software was always there. and then there was manufacturing software. what erp did was to bring together for the first time the accounting and the line of business in that case, manufacturing. hr software is there, human capital management software is there. it is really about tying what

happens in the hr, operations to the entirety of the business. whether in finance, marketing, engineering. we think this could be in the years to come, we will talk about it like a cmr -- crm or erp category. emily: that was just part of my conversation with satya nadella. the full sit-down will run next wednesday in a special edition of "bloomberg studio 1.0." why sir richard branson gave millions of dollars to 23 in need? -- 23 and me to help it go public. next. this is bloomberg. ♪

emily: there have been no shortage of facts involved, the genetic testing company 23andme set to go public with a merger with richard branson's route. i cut up with sir richard branson to talk about the company's future. >> i have never had that glory and vision of being a public company. a couple of things triggered for me. one, at this point in time where the platform is ready to take off, explode in terms of what we can do in the consumer side as well as therapeutic. what i have learned over the last decade, one of the most important pieces of advice that i have ever gotten is who you are investors are matters. when we thought about how we want to raise capital and whether we want to do an ipo,

the idea of partnering with richard and the virgin team was a slamdunk. the first core value we have is being big. when we think about with richard, think about how big he thinks. emily: let's talk about that big thinking. let's talk about how the deal came together on your end and how involved you were. >> i have known her for many a year. i find her delightful, and invested in her company right at the beginning. and saw the wonderful team she had put around her and the great branch he had built. i even discovered i had a great granddaughter who was indian, and that was an absolute delight.

-- great who was indian. really impressed with ann and the team. impressed with what has been achieved. more importantly, what can be achieved. emily: the dna testing part of the business has been slowing down, but all of that genetic data is so valuable. you are using that for drug development and a doubling down there. you have a new covid severity test which will tell you how vulnerable you are to a severe case of covid. hopefully covid is short-lived. what do you see the biggest drivers of long-term growth? >> i believe one day everyone is going to have their sequence. everyone is going to be genotyped. you are going to have a different type of health care system that helps people understand their fundamental risks. and then you can help manage to prevent those things that are

potentially preventable. secondly, we think about them in the therapeutic side. the ability for us to pull through all of this data, insights we have and make treatments that are founded in genetic discoveries. emily: any taught -- plans to raise more or get more involved? >> it is possible. talking to a lot of companies, there are a lot of very interesting companies that are still private that would like to go to the market. we haven't decided whether to invest in them through facts or directly or a little bit of both. we are definitely open to the idea. i am sure our team will explore it. if we can find people doing some

positive good in the world, it is likely we will get at it in some form or another. emily: you worked on the virgin deal. did you see his persona coming? >> i am not sure whether jesus would be the right word. he is an extraordinary individual. he has done extraordinary things and good on him. he managed to bring a number of different companies to the market. and has done some extraordinary things in his lifetime. he is still a very young man. he still has a lot to achieve. emily: my conversation there with 23andme ceo and richard branson. we are talking to the founder of

shift for payment. why he is signing up to be the first 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.

emily: if all goes to plan, he will command the first ever civilian flight to space. jared isaacman is partnering with elon musk on a coveted mission aboard the spacex dragon. he founded shift4, and then went on to launch the world's largest private fleet of fighter jets. he is now playing and -- paying an undisclosed sum for four seats in the rocket ship. isaacman saying, we do believe there is going to be a

world where people are going to be jumping and the rockets with the jets and -- like the jetsons. if we can accomplish that, we sure as heck better tackle childhood cancer along the way. joining us now, jared isaacman. founder and ceo of shift4payments. when we had you on last year, i had no idea what you were really up to. how are you feeling? are you nervous, terrified? >> incredibly excited. yeah, certainly a lot has gone on since the last time we had the chance to have a conversation. being able to command the first all civilian mission to space, totally a dream come true. truly a childhood dream come true. we are going to be able to do a lot of good along the way. campaign -- fundraiser for saint

jude children's hospital. we have an incredible crew selection process, including selecting a great entrepreneur to represent one of the four crew members. emily: i know you are hoping to race a bit like $300 million for st. jude's. are you at all concerned about the risk? there have to be some butterflies. >> really, i am not. i am immensely confident in what elon and the spacex team have delivered. this is not a new endeavor. they had the foresight 20 years ago to embark on this commercial space initiative. this is the company that brought human spaceflight back to the u.s. after nearly a decade since the space shuttle has been retired. those are human rated space craft by nasa, leveraging their 60 years of experience and lessons learned. now you have a company sending rockets up all the time and lending them on ships in the middle of the ocean. very confident in the

technology, confident in the training to read even compared to some of my prior adventures, i was in antarctica year ago. if you get appendicitis there, it is a big deal. i think this is more on the safer side of some of the endeavors i have gone on. emily: what are you doing to prepare for this particular mission? what is the training like? how much time are you spending doing that? >> right now we kicked off inspiration 4.com. we are helping people figure out the crew members will be. we have an open seat for someone to make a donation and they will get fitted for a spacesuit.

we have to get through that. we have to shatter this $200 million record for saint jude is part of the fundraising. and then we are going to roll right into training. it is going to be intense. we are going to draw upon what nasa has developed over the last 60 years. we are not going to space station. we are not doing any spacewalk. that narrows the curriculum. it allows me to pay attention to my responsibilities at shift4. emily: everybody would like to know how much you paid for this flight. is some -- is somewhere -- did you pay somewhere around the $200 million number? >> it is a very private

transaction. between the $100 million i have already contributed to the fundraising effort for saint jude, we are going to raise more money and achieve far more good than what the mission itself is going to cost. emily: what has it been like working with elon musk? how much interaction have you had? >> not that much because he is a pretty busy guy. he is changing the world in more ways than one. i can say having conversation with him, i can't even say we have an aligned division. i share his vision and the vision he has had. humankind is far more interesting when people can go and journey among the stars. i think we look at whether you are a star trek fan or star wars fan, you watch those and you imagine yourself in one of those spacecrafts. that is a world a lot of people would like to live in. elon and spacex are helping us get there.

inspiration4 is one step along the way. tackling some of the issues we have here on earth. totally share his vision. a very big brained, cerebral person. his mind is moving one million miles an hour. emily: he was asked if he would let his kids go to mars. he said, they are not really interested. i am curious what your family thinks about your mission. maybe you are not nervous, but are they? >> my wife is not surprised at all. we have been together a long time. she used to sit in the backseat during my early flying lessons nearly like 20 years ago. she has flown in a fighter jet. she knows this is part of my dna to seek some of life's greatest challenges. she was not too surprised. my kids, i didn't fully explain

it to them until recently. they did overhear me talking to my wife and they tried to break the secret at school. told their teacher their dad is going to become an astronaut. we had to squelch that because there is a lot of secrecy. i sure hope someday this becomes so accessible, so affordable, that my kids and other kids can go to space. right now, to be a nasa astronaut, you have a better chance of being hit by lightning. emily: would you go to or move to mars if that opportunity happened in our lifetime or let your kids do that? >> i think we have to go one step at a time. we have to get this mission right. it is a huge responsibility. if this goes wrong, it is going to set back the timeline for everyone else. and that timeline can happen really fast. charles lindbergh's solo flight, that was one person, one individual, very costly. 12 years later, penn am has

commercial service for everybody. we have to get this right so everybody else can follow. and then we will see. emily: we will have to leave it there. we will be following you every step of the way. coming up, we are going to be talking to president biden under pressure on antitrust. this is bloomberg. ♪

♪ emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. technology is increasingly being used in the energy sector, for example, turning natural black gas into cleaner fuel, but no technology can help a lackluster order. a report fell short of expectations, nevertheless, the numbers are described as resilient, and it is expected

oil supplies could tighten as the economy recovers. have a listen. >> the year was a very tough year, let's be honest. and a very painful year. >> how, earnings missed expectations? did analysts get ahead of their skis, or did you have blessed-in its accounting changes that surprised them -- did you have last-minute accounting changes that surprised them? >> it is a combination. percentagewise, these numbers are magnified because we are talking about low numbers. and it is very, very difficult with a lot of these adjustments. we did have a number of adjustments to get it completely right. i thought the street did a particular job, to close at $150 million from where we were on average for the quarter. if you look at the entire year though, it is probably more

sensible to look at that and again, $34 billion of cash, because that is actually the better measure for us to be measured on, and is a credible and resilient performance. on top of it, i would say that the countermeasures we took earlier in the year 2020, when we said we were going to find $8 billion to $9 billion of cash to help us ring these difficult times, we actually delivered $11.5 billion. so we did well in that respect. it didn't help taking a painful decision to also reduce our dividend, but if you look back operationally over the year, our staff did remarkably well. i am very proud of them. >> let me ask you about how shareholders received all the messaging you have given brown dividends and buybacks. historic dividends for the first time in many decades, that was last year. a couple quarters later, you

raised it modestly and also committed to further buybacks. have investors kept with you along this journey? what is the feedback? >> as you can imagine, there is a range of reactions. nobody, and certainly nothing company, welcomes the need to reset a dividend. but the same time, it was also a necessary and inevitable thing to do, not only to preserve the resilience of the company also preserve the long-term future of the company. emily: shall ceo ben van beard in their earlier on bloomberg television. -- shell's ceo. this is bloomberg. ♪

♪ emily: new york city mayor bill de blasio says the company -- says the city is in a wartime dynamic as the city faces a shortage of covid-19 vaccine. with people unclear about where to get their shots across the country, one country -- one company trying to solve this problem is infinitus. the company partners with vaccinateca.com, that is vaccinate california, joining us now is the ceo of infinit us. >> over the last two years, my co-founder and i started infi

nitus to exchange information. what has happened recently with the vaccinateca volunteer project, there are a lot of people looking for certain kinds of information, but the only way to get that information unfortunately is the phone. a group of 300 volunteers are spending nights and weekends making phone calls to pharmacies around the country, starting in california now around country. someone reached out to us and said, you build this platform to automate phone calls, can you help us out. and a couple of weeks later, we are contacting 25,000 people every day to see if they have the vaccine or not. emily: what of the biggest challenges and what is happening behind the scenes that we don't know about? ankit: california is a very large state and every county has rules on who can get the

vaccine, the qualifications, how you can make appointments, and what we are doing is trying to find all this out so that every person doesn't have to call their local pharmacy or hospital and find out how they can get the vaccine. just go to one place, vaccinateca.com and we do the work once and you can look up all the information. it is published for everybody to gain from. emily: talk to us about how you expend to x -- how you intend to expand. you are in eight u.s. states, do you expect to add more? ankit: in every state where there is a mirror project like vaccinateca, a group of volunteers that get together and create the website, and before they start to look for volunteers to make phone calls, now they know about us and they reach out to us and say, can you do this for our state. our digital assistant eva is just another volunteer to make

those phone calls. so we are helping those groups expand and now, there are a couple of groups, one called find your vaccine, that are going to make that happen on a more nationwide basis. emily: in terms of how to speed things up, do you have ideas based on information you have gathered? what needs to be done to make this better? ankit: a lot of people know a lot more than me and my team at infinitus in terms of how to speed things up to get vaccinations. all the supply chains, the vaccinate sites, are doing all they can to get the vaccinations to people. we are just to help people find where they can go to get vaccinated based on the phone calls people make. emily: ankit jain, infinitus founder and ceo, thanks so much for the important work you are doing. president biden has promised to get tough on tech giants whose

immense power and profits have come under fire from both sides of the island and around the world. joining us now, colorado representative can buck, just a point -- representative ken buck. thanks for joining us. you said on twitter you plan to introduce your own antitrust legislation. what might that involve? representative buck: i am working closely with representatives to see any of rhode island, who is the chair of the committee -- representative ciccine of rhode island who is the chair of the committee. one thing is the portability of data. we should be able to move our data from one search engine to another. so if we are searching on google, we can take that data, we can move it to another search

engine and hopefully create competition in the marketplace, so that google doesn't have this 94% dominance on desktop searches. there are other issues i think are really important when we talk about mergers and acquisitions. facebook largely went unnoticed as it accumulated important is this, like instagram and whatsapp. it is important that we not only look at the price when we consider consumer welfare, but we also look at other impacts on the marketplace, such as innovation. i believe google and facebook, twitter and apple, amazon all have stifled innovation partly by the mergers and acquisitions that they have engaged in. emily: let's talk about amazon. big news this week with jeff bezos announcing he's going to step down as ceo. there is speculation he did not want to deal with regulatory

scrutiny that was going to come his way. how big a bullet did he dodge? and what is in store for andy jassy, who will take his place? representative buck: all five of the monopoly platforms are going to be scrutinized more carefully than they have in the past. i doubt mr. bezos is worried about scrutiny he is going to receive. this is going to take several years. it is going to take a year or more to get legislation through congress. and then, empowering the regulatory agencies, enforcement agencies like the antitrust division at the department of justice, they will have to engage in these lawsuits. some lawsuits have been filed, but any lawsuit involving some new statutes won't filed until after this statutes passed. -- until after those statutes pass. it will be a couple of years

before we see the impact of what we are talking about today. emily: attorney general nominee merrick garland, what early readings are you getting from him in the administration about how tough they are going to be on big tech? representative buck: well, we have certainly heard statements coming out of the administration that they are concerned with these monopolies, concerned with the impact on small business. and i think that is refreshing. we really didn't know. the trump administration had moved, the state attorney general's had moved, we are really waiting to hear and i expect in the attorney general nominee's hearings to confirm his nomination, we will see some of the statement at your some of the statements he has to make about this. i anticipate this attorney general nominee will be supportive of these actions. and we have certainly heard back

channel that the antitrust is moving ahead on all of the actions we -- that were initiated in the trump administration. emily: senator klobuchar's bill today would make it much harder for big tech companies to buy startups, and easier to bring monopoly cases. is there anything in their republicans are ready to support? representative buck: i certainly haven't had time to scrutinize senator klobuchar's bill. i am occurred that this effort will not only be bipartisan, but bicameral. i have not heard from the republican side in the senate whether there is a joint effort in the senate to do that. i am assuming that there is. but on the house side, it will be bipartisan. we have a number of measures that we were looking at at the end of last year, and senator klobuchar's bill would certainly help us in terms of rating issues that can go over to the

senate and be scrutinized. i am sure they will already have hearings by the time we get legislation passed in the house. emily: i know you have a work to do, but you have already taken a close look at these companies. and if you think about amazon, google, apple, facebook, is there one of them that presents the biggest case for a breakup? representative buck: the enforcement agencies, federal trade commission, antitrust division, have to decide what the remedy is. what congress does is pass laws. and certainly we need more competition in the marketplace for all five of the monopoly platforms. i would add twitter to that scenario also. but google and facebook have probably been the biggest actors when it comes to mergers and acquisitions, as well as

stifling competition in the marketplace. and i think that there are a number of lawsuits pending now with companies that have been squeezed out of the marketplace. there are also a number of state's actions that have been brought on behalf of companies and the consumer. so those two are targets we will be learning a lot more about and crafting laws that address issues raised by this companies. emily: congressman ken buck of colorado, we will be botching the moves -- we will be watching the moves you make on big tech. coming up, the t-mobile ceo just got off the earnings call, earning succeeding estimates but some are concerned about the outlook. we will ask him next. this is bloomberg. ♪

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emily: t-mobile out with earnings results that exceeded analyst expectations, but shares of the company retreating from the market as investors are worried about what is ahead the rest of the year. we are joined now by mike sievert, ceo of t-mobile. mike, what levers are you going to continue to pull to keep subscriber growth up? mike: there are many tools in our toolbox, emily. thanks for having me on. we were able to show that even in this environment, with less switching, which is what we feed on at t-mobile, taking share from at&t and verizon is our business model, even with less switching, we were able to liver some asked to deliver some of the highest performance in our history. 2020 was an all-time company record. we lead the industry in q4, strong finish with 2.2 overall

paid smartphones in 2020 and 800,000 in q4. we have momentum on our side. and we have much higher security than sprint, a potential big tailwind as we bring that from worst to first just like we did t-mobile. emily: your competitors are getting more aggressive. what do think about at&t's aggressive iphone giveaway? mike: we just completed our conference call and one of the things i said was, real customer loyalty takes years to build. you need to have the best value into best product. that is what t-mobile has and is one reason why i unveiled today that our genta immobile brand had the lowest churn in the industry. so while at&t is throwing money at customers, i will be doing the same thing if i saw t-mobile threatening to take all their customers, but they have a big

miss. it is a band-aid, not about customer loyalty. you were asking about the competitive dynamic, at&t, verizon, would you look at the some of them, they add up to about the same as they did last year. there is not anything going on other than jockeying between them -- if you look at the sum of them, they add up to about the same as they did last year. there is not anything going on other than jockeying between them. emily: what about when the jockeying is over? mike: we are certainly eager, but we can't talk about post-auction dynamics. we had to delay the meeting. our outlook is bullish, the most bullish we have done. every year this time, we put out guidance and tend to be a little conservative. but look at the 4 million to four points billion -- 2 -- look

at the 4 million to 4.7 million post nets we were able to put out. people are asking isn't that conservative, it is only triple your competitor's prior year performance? fantastic. emily: in terms of how attractive 5g has been is a feature this year, we talked about how quickly it is growing, you have told me it depends on handsets, we need more 5g-capable handsets, where do you think you will be on 5g subscribers at the end of 2021? mike: right now, it is in the low double digits. it is going to several times that. so this is a big year. and all the major super phones that are heightened production phones are 5g now. that means it is just a matter of time. i do think you're going to see upgrades this year. people have been holding onto their phones a long time. but 5g is a catalyst for a new phone purchase. they are going to have a lot of

phone and when they look at their friends with a connection that is 10 times faster, and not just here and there, but with t-mobile, across 200 million population by the end of this year for our ultra capacity 5g. do you know what verizon has right now? 2 million. so it is a huge catalyst not just for 5g but for t-mobile's lead in 5g. emily: how about your tv vision project, the skinny bundle offer? comedy customers do you have and how is that going? mike: we don't announce customers, but we are really pleased with the experience we are getting. remember, we launched this in time for our pilot on whole broadband. that is what this is about. it is about being -- home broadband. that is what this is about. it is about being able to offer a whole package. this is one thing we learned, people in order to consider a change in their own product, they want a tv offer as well. we don't expect tv itself as a

standalone to be a major profit center or major cost center. it is a catalyst for the mobile business, but more importantly for home broadband, which we haven't commercialized yet but which we are really excited about. emily: now, i know, mike, you were listening to the interview with congressman ken buck who is now ranking member of the house antitrust committee. there will be scrutiny on big tech, you have experience with regulators and the sprint deal, if there is one thing the biden administration could do that would make a difference for t-mobile, what would it be? mike: well, we are seeing certain things already. one thing the administration shows a big interested in is connectivity for americans. so do we. i love it when we have a mutual interest with our government. at our project 10 million is about connecting kids in every part of this country and making sure no one is left behind, because education is a great

leveler. the administration seems to have similar views. and that is very encouraging. reaching rural houses with broadband itself is very important and as i just said, that is what our broadband initiative is all about. we don't have to get a wire to your house, we can transmit it from a tower, not a millimeter wave tower like our competitors that only goes meters, ours goes miles. so we can reach houses with broadband that others can't and that seems to be important to the administration, treating people fairly on the internet is something we are hearing. emily: when it comes to your focus on subscribers for the next year, where are you putting most energy? mike: one thing on consumer your going to see from us is bigger focus on small town rural. a lot of our success in the past based on where we came from has been the big urbans, but our market share is less than half the national average and 50 million homes that represent

small-town and rural? it is a big part of the country and our market share is less than half our national average, so a huge potential for us, especially as we emerge in those areas as the network leader. that is not want to happen this year, but it is certainly a focus pete second's business, we always competed on price, now we are competing on quality and that is a big difference. emily: mike sievert, ceo of t-mobile, always good to have you here, mike. thank for stopping by. getting to more tech results, peloton has its first $1 billion quarter due to stay-at-home demand, digital subscriptions up for sund -- subscriptions up 472%, connected subscriptions up, the at-home fitness provider painting a picture of supply constraints and delays with shares dropping after our. the ceo says peloton is

making more bikes and they believe it cheaper treadmill that they have to come as a rocketship. that does it for this edition of "bloomberg technology," i'm emily chang in san francisco. "daybreak asia" is next on bloomberg. ♪

haidi: a very good morning. we are coming down to asia's major market shery: welcome to daybreak asia. our top stories this hour. asian futures point higher with regional stocks heading for a fifth weekly gain. chinese short video app quite show is surging ahead of today's formal debut.

the start up is