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tv   Bloomberg Technology  Bloomberg  February 4, 2021 11:00pm-12:00am EST

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♪ emily: i am emily chang in san francisco. this is "bloomberg: technology." coming up, my exclusive interview with microsoft ceo satya nadella. how the pandemic has changed what it means to go to work. and inspired the company to develop a new employee engagement product. he will introduce us to viva which he says is microsoft's next big thing.
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plus, richard branson's virgin group saying it will help 23 and me go public. we will hear from branson himself. and ceos in space, the founder of shift4payments has paid an undisclosed amount to participate in a spacex mission. although stories in a moment. first, u.s. stocks hitting a record as small companies -- caps hit a record. we also saw a slew of companies report earnings. >> you did see a risk on day but really all the action seems to be after the closing bell. saw a lot of earnings hit the wire. i do want to run through them. let's start off with snapchat. you are seeing a little bit of a pullback revenue and daily users in those shares. revenue and daily usersfeeding estimates. company saying the revenue will accelerate this year.
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with better-than-expected forecast for the year. even with that, they are expecting unpredictability in 2021. peloton in that same vein. also beating estimates but saying it cannot keep up with the surging demand. they warned of a profits squeeze. 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 franchise names like call of duty and bonus candy crush. pinterest, strong quarterly sales also beating estimates. they are setting a strong holiday season. another boost for pinterest shares. the nasdaq 100, hitting a record high. after, look at this, three days of gains.
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it shows you it is near positive gains. >> but no gains for gamestop. closing at $53 a share today. is the rally over? >> it kind of seems like it. you did see an 80% drop just this week. 83.5% drop to be specific. this does not necessarily mean the retail bid is over. it is over potentially just for this stock. you kind of see them shift focus to biotech instead. i want to bring your attention to two stocks cutting retail -- getting some of that retail love. gaining at 33% and 43% respectively, the stocks on your screen right now. look on a weekly basis. those are rallying 95%. once again, that retail bid, it is not gone, it is just gone to a different place in the stock market.
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>> thank you for that roundup. we will keep watching gme tomorrow. now to my exclusive conversation with microsoft ceo satya nadella. like its peers, microsoft has seen massive growth in cloud demand this year as more companies than ever have employees working remote. it is the employee experience in the remote environment that has captured nadella's attention. and inspired a product called aviva. -- called viva. microsoft unveiled viva today. >> one of the things across industries was how do you connect people? if you have someone in the front lines and an engineer working from home, how do you connect? so the team's growth was not just about knowledge workers collaborating but helping
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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. and that cloud architecture. teams clearly has been a massive growth story for us mostly because of the context of the constraints and how to overcome them. emily: now you are on to what you believe will be your massive line of business. employee experience. tell us about your newest product, microsoft viva. the pandemic has shined a light on how important the experience is for the employee. when you are remote, in particular 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
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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 the learning content needs to be delivered with workflow tools you use every day. one of the things we learned about is well-being. some of the practices we had even the commute practices, what , transitions helped create clear demark asian's between -- demarcations 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 and well-being, into one experience, platform, is what viva is all about. i think that this represents a new category creation moment.
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if you look at the journey we have been in with microsoft 365, we started with individual tools. it became a collaboration suite. we think it is really going to get into a new space around employee experience, holistically they can about productivity. not just narrow at output learning and collaboration. emily: if you spend your whole day in teams or word or outlook, are you putting those all in one place? is that what it would mean for the user? >> it is the opposite. use the tool you are using for any of your communication needs. or deep work needs. then 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
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experience you need to go to but to bring an experience you need in the tools you are using every day as part of your work. emily: how big could this be? your next $10 billion business? what is the total addressable market? >> in some sense, the way i think about this 30 years ago if , you look at it, we introduced over the world was introduced to erp or enterprise resource planning as a category. it is interesting to go back in history, 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 tying what happens in the really hr or people operations
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to the entirety of the business. whether in finance, marketing, engineering. we think this could be in the years to come and decades to come, we will talk about it like a crm or erp category. emily: that was just part of my conversation, my exclusive conversation with satya nadella. our full sit-down will run next wednesday in a special edition of "bloomberg studio 1.0." rolling out globally on bloomberg television. coming up why sir richard , branson gave millions of dollars to 23andme to help it go public. 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: there have been no shortage of facts this year the , genetic testing company 23andme set to go public with a merger with richard branson's group. i caught up with the 23 me ceo and sir richard branson to talk about the company's future. take a listen. >> i have never had that glory and vision of being a public company. a couple of things triggered for me. one, we are 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
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richard and the virgin team was absolutely the slamdunk. the first core value we have is think big. what we think about with richard, think about how big he thinks. emily: let's talk about that big thinking. tell us about how the deal came together on your end and how personally involved you were. >> i have known anne i find 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 brand he had built. i even discovered i had a great grandmother who was indian, and that was an absolute delight. every time i go out in the sun, i don't feel i have to wear as
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much sun cream as most people. really impressed with anne 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 doubling down there. you have this 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 absolutely 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. i think secondly, we think about
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them on the therapeutic side. the ability for us to pull through all of this data, all of these insights we have and make treatments that are founded in genetic discoveries. emily: any plans to raise more snacks -- or get more involved? >> it is possible. getting out there and 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
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some form or another. emily: you worked on the virgin deal. did you see his persona coming? people are calling him -- >> 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. as far as i'm concerned he is , still a very young man. he still has a lot to achieve. emily: my conversation there with 23andme ceo and richard branson. you can get that full interview online. we are talking to the founder of
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shift4payment. why he is signing up to be the first ever civilian space commander. that is next. this is bloomberg. ♪
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emily: if all goes to plan, he will command the first ever all civilian flight to space. jared isaacman is partnering with elon musk on a coveted mission aboard the spacex dragon. founded the now ubiquitous point-of-sale service shift4, and then went on to launch the world's largest private fleet of fighter jets. to help train the world air forces. he is now paying an undisclosed sum for four seats in the rocket ship. his crew will include an invested are for st. jude's hospital in hopes of raising money for children. isaacman saying, we do believe there is going to be a world 50 or 100 years from now where people are going to be jumping
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in their rockets like the jetsons. and you will have families bouncing around the moon. if we can accomplish that, we sure as heck better tackle childhood cancer along the way. emily chang, bloomberg. joining us now for more jared , isaacman. founder and ceo of shift4payments. when we had you on last year, i had no idea what you were really up to. i mean, how are you feeling? are you excited? 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. yeah 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. i mean, biggest fundraising campaign in the 59 year history of saint jude children's hospital. we have an incredible crew selection process, including
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-- to make sure we have the right people representing us, including selecting a great entrepreneur to represent one of the four crew members. exciting time. emily: i know you are hoping to raise something like for st. $400 million 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 landing them on ships in the middle of the ocean. very confident in the technology, confident in the
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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 training? >> right now we are taking everything in milestones. we kicked off inspiration4.com. that is where we are logging people -- inviting people to logon, participate. helping people figure out the crew members will be. you have this great entrepreneur selection process. to identify that next great
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business leader and elevate them to the stars. that will be our fourth crewmember. we have to shatter this $200 million record for saint jude is -- as part of the training. 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. well also preparing for this voyage. emily: everybody would like to know how much you paid for this flight. you said you want to break the $200 million record for saint jude. is what you paid for that seat somewhere around half that? more, less? >> it is a very private transaction. between the $100 million i have -- $200 million fundraising
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effort, the $100 -- $100 million i have already can to but it, -- contributed, 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 has a handful of companies and he is changing the world in more ways than one. i can say having conversation s with him, i can't even say we have an aligned division. -- vision. 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 one of those shows 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.
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it allows us to make that kind of progress while also 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 has seen me at airshows. 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
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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. goes across atlantic. 12 years later, penn am has commercial service for everybody. we have to get this right so
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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 president biden under pressure on antitrust. this is bloomberg. ♪
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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 quarter. 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.
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>> the year was a very tough year, let's be honest. and a very painful year. >> how come earnings missed expectations? did analysts get ahead of their skis, or did you have blessed-in -- 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 good 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
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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
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along this journey? what is the feedback? >> as you can imagine, there is a range of reactions. nobody, and certainly nothing the 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. ♪
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emily: new york city mayor bill
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de blasio 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 company trying to solve this problem is infinitus. it has automated calls to over 2500 pharmacies. the company partners with vaccinateca.com, that is vaccinate california, joining us now is the ceo of infinitus. which has just raised $24 million in funding. tell us more about how the platform works. >> thank you for having me. my co-founder and i started infinitus to automate so many
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calls and health care. 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 calling 2500 every day to pharmacies see if they have the vaccine or not. emily: what of the biggest -- are 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, what qualifications, how you can make appointments,
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and what this project is trying to do 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 -- it can be published for everybody to gain from. emily: talk to us about how you 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. we help scale that up.
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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
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of the island and around the world. joining us now, colorado representative ken buck. who has just been appointed as the ranking member of the house antitrust subcommittee. a vocal opponent of big tech. 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 representative ciccine of rhode island who is the chair of the committee. we have talked about the different provisions we would like to work on. one of them is the portability of data. if we take our cell phone numbers, 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
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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 business options 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?
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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 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
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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 generals 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
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actions 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 re republicans are ready to support? representative buck: i certainly haven't had time to scrutinize senator klobuchar's bill. i am encouraged 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.
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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
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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 states 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 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 -- deliver 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
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postpaid phones 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 magenta 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.
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asking about the competitive dynamic, at&t, verizon, would you look at the some of them, -- 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 -- 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. look at the 4 million to 4.7
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million post paid phone nets we were able to put out. that would be triple what verizon did. 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
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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 -- 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
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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,
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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 aree 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,
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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, 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 472%, connected subscriptions up, the at-home fitness provider painting a picture of supply constraints and delays with shares dropping after our. -- hours. the ceo says peloton is making more bikes and they believe it
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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. ♪
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>> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation for the teeter fitspine. roger: hi, i am roger teeter, and i truly understand your back pain.

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