♪ emily: -- >> this is bloomberg technology. some of the biggest tech companies often under antitrust acquisition -- scrutiny. plus, social capital founder and ceo is known for being a

disruptive force in silicon valley. recently he has been making headlines as a superhero for the robinhood crowd on reddit. we will hear more from him. and fresh -- i am going to speak with the data dog. the cloud monitoring company beating estimates. first, we are going to begin with that big story. microsoft, google, and qualcomm have protested nvidia's acquisition. >> sources telling bloomberg the consumed hear from those companies you named is if nvidia completes its takeover of arm, that gives it a key name in the licensing of chip design. to the exclusion of those rivals, some of those names.

the sec is probing the deal according to one source. you saw the impact it had, nvidia down 1.9% friday. some of the names in the green, ending the week strongly. it is an antitrust issue at the heart of it. the deal was going to have to pass several hurdles, not just in the u.s. but is subject to regulatory approval in the u.k. and china. one to watch going forward. taylor: this is the part of the program where we interrupt the traditional programming. it is valentine's day, almost. i am going to sing a rhyme and you are going to have to tell me if it depicts what happened cross asset this week in the market. roses are red. bond yields hit higher. -- higher. >> you picked a day when there

is simply no catalyst, no reason or rhyme, no up or down driving investor sentiment. why don't we start with cryptocurrency. it has been an amazing week. bitcoin hitting fresh records. basically on the back of that tesla news. i cannot believe you said that in air. tesla investing 1.5 billion dollars in bitcoin having a big impact. you can see, the crypto index hitting a high. ether, the world's second-largest bitcoin, hitting a fresh record. lots of inflows into that. the market working out what the driver is. we have had no substantial progress in a stimulus bill. we are watching vaccines closely. what we saw in u.s. equities, most major u.s. indices

fluttering around record highs, not moving with conviction in either direction. the s&p 500 up 0.5%. the nasdaq up 0.5%. the nasdaq index up 0.6 after the mega earnings out of the way. if there is a out performer, the philadelphia semiconductor index. that is one of the stories of the year. the impact this could have on certain names. if there is one guy who speaks about the market and companies with poetry, i think it is dan ives. he has a way with words. taylor: it is like you planned that transition. thank you for joining. let's get back to that top story and the guy who does: is better than i do. some of the largest technology companies complaining about nvidia's acquisition of arm. microsoft and qualcomm saying it

will harm acquisition. in an area of vital to their businesses. i am not going to make you rhyme poems, but i want to give you -- ask your thoughts on this antitrust news. what do you see in terms of these big competitors coming out against it? >> it is an arms race in terms of the chip world. we are seeing a consolidation between software chips. we even seek comedies like apple. this is a shot across the bow. industries still think -- it speaks to a convergence we are seeing. and what is really the chip arms race. >> what is the increased likelihood this deal does not go through? taylor: right now the street still believes it goes through. you are seeing this from a

regulatory perspective, especially in the sensitive times in chips. there is a decoupling which speaks of the chip shortage, coming off of the u.s. china pulled tech war. it speaks to how it can crimp the whole supply chain. when you have one vendor with more and more control, there is a double edged sword. what many view as more downside than upside. that is what needs to play out in the market, especially what i call a white uncle period. especially on the heels of the chip shortage. taylor: i want to get to that. you know more about multinational and cross-border deals. i was reading through ian king's story. it is the european commission, the u.k. competition and markets authority, the china state administration. how many regulators are we going to have to go through and how

does that come to keep the story? >> is a rubik's cube. it does heighten it, especially when there is heightened focus in this industry from a regulatory perspective. we will see an uphill battle. that is why you see the piling on of the big tech giants. it is going to put more of a spotlight on this deal. taylor: why isn't the market pricing in the deal might not happen? >> right now, we have seen more barks that is worse than the bite. the market has learned, even though there could be noise, these deals will ultimately get through even if there are some concessions. that is the view of the market right now. there is going to be a lot of noise.

but the market is still pricing the deal that is done. taylor: i do want to read nvidia's statement. they say they are confident customers and regulators will see the benefits of our plan. we will continue with arms open and ensure a collaborative relationship. we will bring you more comments from that company as we get them. as we transition from the arms race to this broader story of a massive shortage of chip supply, hasn't this highlighted the issue this is? >> no doubt. we are going through a u.s. china pulled tech war. you have seen tiktok, the viewed there is going to be more and more of an all branch toward

beijing because we are seeing some of the damage. it is one thing that can crimp demand across the tech foodchain. if it does not get resolved, it all comes down to asia. that is something that is being called out more and more. as we continue to see a green light for tech, coming off of strong earnings. this is something that could definitely ruin the party. taylor: is it a supply chain issue or unprecedented demand, given the recession we have come out? >> 75% is demand driven. it has gotten to a point no one even anticipated. that becomes a high-class problem. we have seen demand to spike,

especially in autos. it is also supply chain shortages. it does show the double edged sword to doing that. that is why there is more and more focus on 1600 and sylvania avenue, if we see a ratchet down of the u.s. china cold war. it is another bullish sign for tech stocks moving ahead. taylor: can 1600 pennsylvania avenue do anything? >> it is really theater in the short term. they really cannot do anything. the supply chain is cemented in asia. there could be some good words and strategies, but nothing is going to change the situation. it comes down to supply starting to normalize as well as the u.s. china relationship. taylor: dan ives, thank you for your time. coming up, double is finally

it's making -- bumble is finally making its ipo and making its ceo a billionaire. we have a look ahead. this is bloomberg. ♪

taylor: a caterer re--- a company catering to women and led by women has made is 31-year-old ceo a billionaire. shares of the dating apple bumble sword in its debut. and now the founder valued at $1.5 billion. >> i am just so proud of our team forgetting to this day.

it has been such a journey. for those first people who believed in us and subscribe to this article idea of a woman making the first move. they have been what drove this home. taylor: to discuss the debut, we are joined by -- the price action has been incredible. they are priced at $43. you are closing near $80 a share. what do you see as the further upside for the stock? >> thank you for having me. again, i think it is a fantastic time for any company that has a story. that is getting stronger through the pandemic. more and more people are looking to find ways to connect to people, to online dating apps. a company like bumble is offering exactly that. at some valuations, it is

trading at a significant premium to its most commonly found like match.com -- pure like match.com. but there are so many things that can go right for a company like bumble. there are signs like pinterest, pinterest came to the market with a story. they are woman focused, which is a very powerful demographic. they are offering something that has a scarcity value. a company like bumble can properly execute. taylor: is there any risk in a post-covid world where we are no longer swiping as much because we are out in the real world? >> that is a risk. i feel a company like bumble has their work cut out for them. they are trying to diversify into new things like professional relationships, platonic relationships. finding friendships and professional partners.

when companies like bumble are looking beyond the pandemic, they are looking to monetize their connections in different ways and not just online dating. that is the risk. there is a lot of euphoria priced in right now. it is about execution. there is going to be volatility. taylor: you nailed it on consumer surveys. it caught my attention. one of the latest surveys was about another company we follow quite often here in bloomberg technology, telecom -- helicon. -- pellets in -- peleton. >> we did a survey where we asked a lot of customers, when did you order the product and are you frustrated with the delivery experience? the median lead time is about 11 weeks. that is almost three months

before you actually get your order delivered. the majority of the people, 59% of the people, had experienced issues. pellets on -- peloton is addressing that. it is something investors are going to monitor. they are spending about $100 million to ensure deliveries are done on time. there is a fine line of customer service and customer satisfaction the company needs to follow. our surveys indicate delivery times are getting shorter. hopefully not of a big price. taylor: how much more of a tailwind is that exelon acquisition? >> it is still very early to be honest. they are still looking to close it. they are ramping up their

production. as we get to the second half of this year, they are going to be better positioned. it is going to be expending them into new markets and products. but the other side of the pandemic, people are going to hotels, gyms, and they will have peloton bikes. taylor: always appreciate your time. coming up, a billionaire has plenty to say about gamestop and the phenomena. our conversation with him next. this is bloomb want to save hundreds on your wireless bill? with xfinity mobile you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network. sure thing! and with fast nationwide 5g included at no extra cost.

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taylor: social capital founder and ceo is known for being a disruptive force in silicon

valley. he has been making headlines as a superhero for the robinhood crowd on reddit. he shared his views on day traders versus head wasn't -- hedge funds. take a listen. >> gamestop showed the narrative fallacy on wall street. for years, there was these folks that were these wizards behind the veil. they had a way of conducting themselves that purported to be intellectually superior to everybody else. but in reality, with that short showed was they were prone to the same poor decision-making and broken systems and technology everybody else has to deal with. so i found that kind of funny. i think it also spoke to the

fact that we really haven't looked closely enough at the systems that were broken as a result of 1998, and 2006, 2007, 2008 with barely men's -- there lehman -- that is what sort of angered me about gamestop. on the back end of it, it felt like these worlds collided in a way where i'd out in the end, and the final analysis, there was any collusion of any kind. but just the stench of this whole thing goes to show you back to where we were talking about before, about how difficult it is for normal, everyday folks to have access to any kind of return. if you break down the capitalist philosophy, they are just

fundamentally stuck in this cul-de-sac of always been labor. -- being labor. always being ownership of the capital class. the fact normal folks cannot get access to returns and closing the equality gap makes things worse than they are. >> you appear to have reconsidered a couple of the things you said in the heat of the gamestop moment. where do you stand on hedge funds as a group of actors, and the role they play in modern finance? the other thing that came up in the context of this situation, shortselling. >> i think hedge funds are really important. i think that they should exist. i hope that the ones are good can for live -- can thrive.

i feel like it disclosure needs to be improved. in every part -- other part of society, as the internet has become more sophisticated, software has become more sophisticated, things have air to toward real-time disclosure. in everything. it is just not true in finance where people are able to use the rules and bend them to upstate kate -- the was considering would not have to publish your longs. to me, that is nuts. we live in a world where your longs and shorts should be published in real time. what separates you should be urinalysis and your interpretation of the facts, not hiding. you should be forced to disclose the margin you are running and how much leverage you have.

hedge funds and banks are no different. they are a critical part of the financial structure. they should -- infrastructure. they should be treated the same way. a lot of the risks went away from the banks and toward these other important actors, but you don't have that much oversight. i think hedge funds will do really well. there are some folks who are incredibly talented who will make a ton of money for themselves and their investors. in terms of shortselling, i by the fact it is an important part of the market. i am not a huge fan of it. i do think certain folks really use it to run a certain strategy, and i think that is great. but i also think now in the world of social media, and we have seen this recently, this information can be used to not

just because political damage can also cause economic damage. i think the fec -- s.e.c. is going to have to deal with that issue. how do we deal with -- manage information, sensationalizing things, that can whipsaw the markets up and down? and these actors, how are they regular did? -- regulated? are they allowed to say whatever they want, or is there a higher standard now? taylor: that was social capital founder palihaptiya. can watch more of that conversation tonight starting at 8:00 p.m. eastern. the cloud monitoring business has soared over the past 12 months. why is a company like that a dog -- data dog taking a hit?

plus we will hear more on the nearest -- the stack attack. this is bloomberg. ♪

taylor: this is "bloomberg: technology." i am taylor riggs in new york. datadog, the cloud monitoring platform with clients such as air be any -- airbnb, had a report that left investors a little wary. let's bring in the cofounder and ceo. it is great to have the. analysts highlighting the skyhigh valuation and perhaps wanted more out of the outlook.

what do you say to them? >> we are very happy with our quarter. we are happy with the year. even more optimistic about what is coming next. too much attention to the stock going up and down, if you push a percent every other day, that is par for the course when you have high growth. overall, our stock is up a lot. judging by the pace of change in the digital transformation and cloud migration, we are well-positioned for what is coming next. taylor: talk to me about what is coming next. rosenblatt securities is talking about your emphasis on r&d. how are you thinking about that mix between r&d spend versus profitability? >> we had a very good year in 2020 for productivity. we grew 66% for the year.

40 percent in cash flow, it is hard to ask for more. the business is not any different. we had a very large -- companies big and small are moving from legacy i.t.. we are investing to capture as much of that market as possible. if you are planning -- we are planning to do as much as we can without breaking the company. taylor: is that more of an international market? >> it is everywhere. it is in the u.s.. one thing we have seen this year with the pandemic is of course there were a lot of success stories you would expect. in streaming, video games, e-commerce that did really well. perhaps more surprisingly, we saw customers in industries that

were really impacted by covid that embarked on a transformation. hotel chains, companies in the top spot right now. there is a very large opportunity ahead of us. taylor: have some of those companies indicated to you tech spend is going to come back strong when it can? >> as far as we are concerned, where the spending is going, in the cloud, where the investment is being made, that part is growing very fast. there was never a concern this was going to go away. taylor: what is fascinating about the growth of your company, companies with recurring revenue of more than $1 million, has grown to 97 in your company for more than just

50 a year ago. what can we expect with companies with 100,000 of with annual recurring revenue, going up to at least one million? >> what is interesting, in the cloud world, companies with small companies use a lot of the same tools as companies in the largest fortune 500 organizations. we serve that whole spectrum. customers at the low end of that. students, individuals. we serve the largest organizations that pay us millions or more. as far as we are concerned, we are going everything. we sell to the developers and companies. taylor: you announced an agreement to secure a security platform. we have been focused on security. how does this help you push forward to the future, given how much security has become an

increased focus? >> the situation is on everybody's mind right now. we focus on application security. we are all using more data generated by the applications. the applications are getting more complex. at the same time, the developers that build them, they have a hard time understanding how the applications even work. what is interesting there, we have customers, developers understand what the applications are doing. and basically tame the complexity for them. it is a logical next step for us. understanding the application and making it easier to understand. taylor: would we expect more acquisitions like this in the future? >> potentially. we have done a few last year.

we have a large market ahead of us. some of that, we will serve our self by building products. in other cases, when we can, we will accelerate and acquire and leapfrog. taylor: we are hoping when you make those announcements, you will come back and join us and talk more about that. thank you so much for your time. more on the stack boom. chamath palihapitiya is considered by some to be the king of stacks. billions of dollars he has raised so far. erik schatzker spoke exclusively with him about the limitations of the blank check boom. take a listen. >> i think what is happening

with spacs is the dismantling of the traditional capital market. the equity capital markets had one go to move, which was the ipo. there was follow on financings and all of that stuff, but the traditional phase one ipo -- what you did was a brand you trusted was your on-ramp into the public market. in 2021 and going forward, you are still taking brands. but choices become more atomized. that is the exact same decision that used to happen 25 years ago when you use to pick a banker. now you are picking an individual level partner. i think stacks -- spacs are here to stay. using the language of inequality, it evens the playing field.

it democratize is access to high-growth companies. it allows long time you4 -- tail institutional investors, now they can also play. they may get a location the original spac ipo. they can buy after a deal is announced. so many opportunities versus one allocation in a book building process, that a traditional hedge fund process was about. >> you describe finance as a game rigged in favor of insiders . >> it is a good point you are making. if you can generate superior returns, you should be allowed to compensate and participate yourself. when i use to manage institutional money, all of this capital is my own. but when i used to manage institutional capital, people

were willing to bet i could generate returns. and i have, 30% returns over the last decade, that justified a 38% carry. in the deals i do, i take a 20% carry. i think i can find targets and opportunities that will make that more than reasonable and the final analysis. i think if you look at the returns we return -- generated for shareholders, it has been nothing short of incredible inclusive of the carry i have taken. i have always thought it was important to do two things. if you put a lot of my own money on the line, there's never a question of why i was in this. i was in this to make sure i could find great companies. to accelerate those things with my capital and make sure i could explain it to people including

normal folks and retail investors. i do that by saying, listen, just so you know where i am coming from, i am going to put in more money than any of you. you should take that as a serious signal i think this is important and i take it very seriously. the reason we can't give access to the pipes to retail is because of strict regal tory definitions we live by about who is a flip -- regulatory definitions about who is a retail investor. the way we define it is too broken. there is work i can do. hopefully people will listen to those arguments and rules. that way, more people will be allowed to buy. i want to be clear, that is where we would like to move the ball so everybody can be in an open, even playing field. bid for the ipo's, and for the

pipes -- --. -- bid for the pipes. taylor: chamath palihapitiya in our exclusive interview. you can watch more that conversation all weekend. there's nothing else to do it. . stay home to watch us of the -- watch us. we bring you more news in the spac attacks. filing for an ipo. acquisition number two, that spac looking to raise $400 million. the spac attack craze continues. continue -- a conversation with -- an important conversation. we do that next. this is bloomberg. ♪

taylor: calls for racial and gender equality have reached boardrooms from wall street to silicon valley. one organization is teaming up with some of the leading firms and d.c. to build a network and fill board seats with the best talent. joining us is pam kosta, the all raise ceo. talk to us about how much easier this initiative has become, even the heightened focus on this issue. >> there has been a great drumbeat in interest and movement for diversifying the board room.

it started with goldman sachs ceo pushing for changes in terms of the types of companies they would take public because they saw the economic benefit of diverse boards. it was followed up with california legislation, recent moves by nasdaq, and just the general heightened interest in awareness of the economic benefits of having diverse boards which tend to outperform their non-diverse counterparts. taylor: talk to me about the companies coming to you. >> the demand for talent has skyrocketed. savvy ceos know having a diverse word room can help accelerate the success of their organizations. they are looking for diverse professionals.

diversity in gender, race, bringing new perspectives and different perspectives to help them understand the market opportunities. where the markets are going and being shaped going forward read we are seeing a broad request for many types of individuals and capabilities across market, finance, and audit. taylor: the process starts long before. it is about cultivating the talent years before they are ready to be the ceo and on the board. what are you doing to fix that long process we have to start at the beginning and cultivate that talent so there is a broad pool of which we can choose? >> there already is a broad pool. there is often the mistaken myth there is a pipeline problem. there is a broad pool of individuals who are board ready and more capable. the process of how boards are constructed is where the issue lies.

most of the time it is through networking. a board decides to extend itself and begins to kick off a process of who do we know? the fact is they do not know the talent they want to access. there is a plethora of board ready talent for women, black individuals, latin individuals that are ready to serve on boards and capable of delivering value today. we should not fool ourselves into thinking there is a pipeline problem so much as a network access problem. taylor: love that and thank you for the clarification. i think you brought up a good point about financial performance. boards that are diverse do better. what do some of them statistics tell you about companies that are full of diverse talent? >> we know diversity across the board helps. if you look at the performance of boards, they tends to be --

tend to be more innovative, more creative. they have more efficiency, less risk. we know that actually trickles down into the teams themselves. diverse teams of companies tend to outperform their counterparts. the creativity index. they tend to exit faster, one year faster than their all-male counterparts. we want to focus on the economic benefits of diversity. there is plenty of evidence it exists. we call it the tsunami evidence -- tsunami of evidence it exists. taylor: there was some concern there is a lot of talk and not a lot of follow-through. which sectors are doing the best to commit to their words? >> i don't know it is sector specific. we have placed individuals at five different comedies, they range from enterprise organizations to consumer organizations. it is really about the

leadership and the commitment of the leadership to recognize and the benefits of diversity in terms of creativity, innovation, and performance. it is about who is leaning in and recognizing -- would like to take advantage of these benefits. taylor: if we want to mirror society, 50 men women, -- 50-50 men women as an example, what is a timeline where we can get there that is realistic? >> the statistics for representation in private boards is pretty dismal. 60% of private boards do not have a single female, and the representation of women in boards, private boards in general, is hovering around 7%. we have a lot of work to do. representation for underrepresented individuals is less. we have a significant amount of progress to do. we believe through problems like

board accelerate, focusing on a 90 day window in which to find, identify, and place a candidate on a board, we can make hundreds of placements in any given year. the pace at which we are going to be moving forward as an industry is accelerating. taylor: pam kosta, thank you so much for your time. and coming up, expedia still in an uphill battle in the pandemic. revenue continues to decline. we will hear from the ceo, next. we are going to migrate out to san francisco read we have a live shot. i should sing the song, the tony bennett song. this is bloomberg. ♪

taylor: expedia seeing lingering cobit effects. the stock dropping, missing estimates. of covid-19 cases and new pandemic related restrictions. all of which have been weighing on travel. expedia group ceo peter kern discusses business during the pandemic. he spoke in an interview. >> we mentioned we are starting to see some better numbers in january. that is a reflection of consumer confidence. people's belief they will be

able to be vaccinated. they can plan ahead and get to their summer vacation for fall vacation. we are seeing the holidays of next year, this coming year at christmas time, be a little over historic numbers. people are starting to plan out a ways. it is vaccine, consumer confidence in the vaccine. it is not necessarily shots and arms as well as belief they will get their shots and their arms. we are starting to see that unfold. it is not that sony people have been vaccinated. it is more an expectation that it will be possible in the coming months and therefore they will be able to go places in spring, summer, fall. taylor: is that mostly focused on domestic travel or are you seeing it for long hauls? >> it is definitely domestic.

people are still not sure what it is going to take to go international and what they will have to do and what will be allowed. again, there is a fear of love going to europe in the summer. what will i be able to do there? will i be able to wear a mask, well restaurants be open? it has to do with people's confidence in what they will experience, more than whether they can go. yes, it is still highly domestic. the industry can rebound considerably from where it is while being mostly domestic. it is just a question of when does international come back and everything is fully open? we are really looking forward to that. >> what are you seeing in europe? it looks like it is going to be difficult for americans to fly over here. within europe, what is the picture? >> as you are marked -- you

remarked, europe has been more locked down than the u.s. for a variety of reasons. and so what we are seeing in europe is the lockdowns which can be quite severe and serious. they really limit obviously travel. but as they open, we are seeing many of the same trends as other parts of the world. people are doing more turned of accommodation rentals. -- alternative accommodation rentals. they are doing it more locally. it is basically the same phenomena. it is the same phenomena. when they can cross borders, they certainly do but it is a lot of driving, a lot of what we would call mere travel -- near travel as opposed to domestic. not as many people flying and

more rules around that. the same trends, just the countries are smaller and borders are closed. taylor: expedia ceo peter kearns. that does it for this edition of bloomberg technology. wall street week is up next. happy galentines data my single ladies. ♪

david: up, up and away. investors having a tough time finding assets they do not want to buy. this is bloomberg wall street week. this week, contributors larry summers of harvard and a specialist at rock creek. >> there are new players in the equity market as the power of the retail investor has become also very different. david: general motors ceo. westmore of the robin hood foundation. former ftc chairman. and steve ratner of will advisors. >> a