♪ emily: i am emily chang in san francisco and this is "bloomberg technology." ark etf's plans for a fifth day amid the tech selloff. kathy would having her worst run in a year. i will speak to kathie wood herself about her strategy going forward.

the global cyber crisis facing microsoft. an attack on its exchange email software hasn't raising to protect as many victims as possible. we are speaking with jessica -- acting as easy chair later this hour. the amazon backed self-driving car company says the self-driving resolution -- revolution is coming but when will it happen? we will speak to the company's ceo. we have a blockbuster lineup this international women's day. we will be speaking to google.org jaclyn fuller about what to expect in the coming year. it was a rough day on wall street. the nasdaq 100 tumbling, ending 11% below its all-time higher month ago. i want to bring in our ed ludlow. we've got some new vaccination guidelines but markets not responding the way some had hoped. >> investors moving money out of

tech stocks and into companies who are more closely aligned with the fortunes of the economy. as the vaccine rollout picks up pace, there is more hope for stimulus and the reopening of the economy. you are seeing that play out in the so-called rotation to value. the big drag is tech. the nasdaq 100 down 2.9% on the day. that basket of big cap tech stocks down more than 5%. semi conductors not spared either, down 5.4%. the nasdaq 100 down 11%. this is february -- since it's february 12 peak, which of course is a technical correction. investors are jittery for stretch valuations for tech stocks as we see yields continue to rise. i wanted to look at some of the specific movers today as well. gamestop manias back, up 40% on the day. the news that the company has tapped tree.com founder and

investor ryan cohen to help them move into e-commerce. gamestop is still a brick-and-mortar business. other names that continue to be stretched, apple down for percent, officially in a bear market from its january height. tesla continues that terrible run. emily: on the subject of tesla, we are going to speak to ark's cathie wood as well. >> the ark innovation etf having its worst year of weekly decline since a year ago when the pandemic first unfolded. you can see it is down 30% from a february 12 peak. really closely allied with the nasdaq 100, which is pretty interesting. that is not the whole picture. yes, the etf is down 11% year to date but it is up more than 200%

since its march 2020 low. you look at those green bars, the intense inflows that the etf saw since october and the end of february, that bad performance of late in terms of price came on the back of a historic winning streak which attracted billions of dollars of investment and inflows. plenty of those investors appear to be sticking around. those that bet against cathie wood do not tend to do particularly well. emily: thank you so much. let's continue writing those history books. with more on ark's etf performance and volatility, we have cathie wood with us. good to have you back with us. clearly you are feeling a fresh round of pain right now. what is your strategy? what are you buying? what are you selling? cathie: we keep our eye on the prize. we have a five year time horizon. when we go through a route like

this, first of all, the rotation now is happening very quickly. it started off slowly and it is happening quickly. i am happy that the market is broadening out. it will -- this was the case in late 2016 as well, value took off and left growth behind. whenever i see that happen, i say ok, this bull market has broadened out, would -- this is good news. we concentrate our portfolios towards our highest conviction names. we have extended the number of names in the portfolio from the low to the mid-30's at the bottom of the coronavirus and now we are at roughly 55 for our flagship fund, and we are starting to sell the more liquid names and buy some of the more pure play names. the more liquid names are either more mature, the facebooks, the apples, and so forth, or they

are participating in innovation but not pure plays, so regeneron, novartis, and so forth. so more liquid in order to have cash like instruments to use at a time like now and move, concentrate towards our highest conviction names. emily: so let's talk about tesla then. you said you are only going to buy the dip. are you going to continue to buy the tesla dip now that it is dipping even lower? cathie: yes. we can buy a stock up to 10% of our portfolios. we report our holdings at the end of everyday. anyone can see that. and yes, we have been building whenever we can. now, we've built -- we built up to 10% last week, so the stock behaved in line with our portfolio. again, we cannot buy anymore here. if it were to deteriorate at a

rate beyond that of our other portfolios, so drop below that 10%, we would then have the latitude to buy more of course. emily: now, you've said you're going to put out a new tesla price target. the market is anxiously waiting for the. when are we going to see that? can you give us an idea of what the target will be? cathie: well, it's going to be in i'm going to see a couple of weeks. we are getting complaince is helping us cross our t's dot, our i's. the two things that have happened to tesla since our last projections are one, it has increased its market share. when we put out our original $ 4000 price target, so the equivalent of $800 now, we thought that tesla's share which

dropped from 17%, this is a share of the electric vehicle market, from 17% then to 11%. instead, it's share increased as others -- its share increased as others with wonderful brand name started increasing the number of electric vehicles in their companies. that was a big, big wake-up. in the united states, i think tesla, through the third quarter at least, was still 80% of all electric vehicles sold in the united states, so pretty stunning. the second thing that has happened is autonomous. are the probability that tesla gets autonomous right we believe has increased from the 30% that we had in our base case in our last model. so, what's interesting about autonomous is the margins in autonomous, the gross margins,

are in the 80% range. the margins for electric vehicles alone are in the 25%-30% range. this is a five year projection. so, the model changes completely if tesla gets autonomous right, and we think it will. emily: ok. now, as i said earlier, look, ark came back even stronger after the big pandemic shock, but we seem to be in a totally different environment right now. right now, this seems to be happening because of rising yields. how do you come back even stronger this time? cathie: well, truth wins out. we know that our focus on disruptive innovation is going to be very productive. we are focused on five platforms involving 14 tech companies, all of which are moving into exponential growth trajectories. and beyond that, many of these

technologies are converging. so autonomous taxi networks are comprised of three technologies or three platforms, robotics, autonomous vehicles are robots, electric, they will be electric. electric is going to be the cheapest way to go. and artificial intelligence. they will be powered by artificial intelligence. now, those are three s-curves coming together and we think they are going to cause explosive and highly profitable growth. i don't think most research departments are set up to focus on innovation this way. they are very sideload, specialized -- siloed, specialized. we are focused on the 14 different technologies associated with those platforms. these curves are going to collide and create so much positive energy that we think analysts, traditional analysts especially, are going to be gob

smacked, shall we say. emily: i am curious, what's your relationship with? elon musk? ? ? how much contact do you have with him? any fun and crazy stories? cathie: no. we did our podcast. actually, the way we do our research is we will speak to i.r., we don't want any special treatment, but we have a five year time horizon. we are really asking more technology questions than anything. you can see from the podcast, i think march 19 as the stock was cascading downward, we had a fantastic podcast with elon. and that podcast is evergreen. because again, we are talking about long-term time horizons. you will see how brilliant he is and how focused he is on tesla. and we did talk about the crypto

decision, the decision to put some cash into crypto. we were fully supportive of that. any company on the right side of change should diversify in that way. emily: ok, but should he keep diversifying? or is 1.5 billion enough for you? cathie: i leave that to their judgment. we, of course, believe they should keep enough cash on their balance sheet to support their operations. i think with the focus on their cash, that they are not going to do anything wild and crazy here. emily: all right, c we are going to takeathie, a quick commercial break. kathy woul -- cathie wood, arc etf founder, ceo and cio. square and roku all taking a hit.

cathie wood will be back with us next. this is bloomberg. ♪

♪ emily: the tech sellout continuing with tesla, square, roku all taking a hit. those three are the largest holdings in ark etf. cathie wood says she is not concerned. she is still with us now. cathie wood, founder, ceo and cio of arc investment management. you've been coming on this show for years. in that time, your popularity has exploded. you've got your own line of ark merchandise. the media loves talking to you and talking about you. they've called you the antiwar buffett. how do you feel about not being just an investor but a celebrity

investor? cathie: i don't think of myself that way. i think of myself as sitting down every day with our analysts and being really excited about the way the world is going to work, and really just wanting to share that with people. you know, from an educational point of view, help people understand how radically the world is going to change and how it is so important to be on the right side of change. i am not just talking about portfolios here. i'm talking about parents and grandparents guiding their children and grandchildren to the right side of change. that's how radically we think the world is going to transform. when we go through a rotation in the market like this, you know, as i mentioned before, i think the bull market is broadening out, that's great, but be careful. this rotation into value, make sure you understand whether these companies are primed to move into this new world or if they are going to be disrupted.

we do think energy and financial services, which are the two best-performing groups this year , so i think it's 37% and 15%, something like that, we think they are going to be some of the most disrupted sectors of all, given electric vehicles, autonomous electric vehicles, and digital wallets. it's a beautiful day, let's share the news. let's share the good news. emily: now, do you ever worry that the rising retail interest in your funds could have negative consequences, given how quickly and powerful we have seen retail investors move the market in the last few weeks? cathie: you know, i did a youtube video. we are starting to do them regularly now that the markets are unsettled. and in the last one, i depicted

the difference between institutional and retail investors today. we are much more embraced by the retail investor. the retail investor has seen the future really before institutional investors, because post-tech and telecom crash and post 2008-2009 meltdown, institutions have been forced to track their benchmark more closely. or they have chosen to. it is very backward looking. we have found some of our strongest holders to be retail investors, because they really are keeping their eye on the prize. they know the world is changing. they are part of making the change. sure, we are having redemptions, but we are surprised at how low our redemptions have been. emily: you have not

traditionally seen outflows like you have seen over the last few days and weeks. how loyal do you think your investors are? how sticky is your model? cathie: well, i think if they are paying attention to our research, if they are reading it, if they are listening, we are going to have a market update tomorrow, we open that to everyone. if they ask questions and understand the depth of our research and the conviction in our research, they learned that they want to keep their eye on the prize as well. what do you do during a period like this? well, you buy low and maybe take profits, sell high. that's what we are seeing them do. i think that's been healthy. frankly, as you will see in our holdings at the end of every day and our trades, we are averaging in. we are using this period to average into some of the most important companies of our lifetime.

emily: it is international women's day, and i know your team is very diverse, including many women. curious if you think that's part of your secret? are you hiring? if you're hiring, who? what are you looking for? cathie: i do think diverse points of view i think are critical. and yes, so yes, that has helped us, without a doubt. yes, we are hiring. we are looking for another asian innovation analyst, and perhaps another next-generation internet analyst. so, yes, we are hiring and we have to fill in as well management positions, you know, to get the operations to scale the way we would like them to scale. so absolutely, we are excited about the talent that is self-selecting. i have been thrilled. i wish more women would self

select, i have to tell you that. that's been my big surprise. in the early days, women self-selected into ark all the time. and now that we have hit our stride, i am seeing fewer women. i'm going to put that call out there today and say we would love to interview more women, you know, those who are interested in innovation, and really understand, because they have domain expertise, either from school or industry, really understand and are excited about the way the world is going to work. emily: now, given all of these new investors who are coming into the market, companies like robinhood making it easier than ever to trade, we see increased retail attention, do you have any concern that there are all these shiny new objects competing for retail attention? that that can compete with ark?

and how long do you think this correction will last? cathie: on the first topic, i don't think anyone is doing the kind of research that we are. that is what buttresses the firm and the portfolio. so i am not really worried. i am glad that there are more, there's more capital moving into novation. it may not be as disciplined -- into innovation. it may not be as disciplined as ours is into rights law, building models, but i do think allocating capital towards innovation is the right thing to do. there is so much innovation taking place out there. to keep the u.s. in particular or the developed world competitive, we must invest in innovation. and for another reason. how are we going to get out of the mess that the coronavirus crisis put us in? many would say, tax, tax, cut

spending. our point of view is that we really, with the growth opportunities ahead of us, we could grow out of a lot of our problems. i also think that our social media, social marketing and some social distribution strategies are also giving us a competitive advantage. most of the marketing and media around our research. in terms of the market, how long will this correction evolve? let's put it this way, we believe we are in a recovery. we believe earnings growth is going to be pretty explosive. we believe that value and growth will do very well. of course, value has been more depressed. we understand that rotation but we also know there are minefields out there in value. i think earnings are going to

come out of this and with each quarterly earnings report, we will have more reasons to buy this market. emily: cathie wood, good to have you back here on "bloomberg technology." ark invest founder cio, ceo. coming up, we are just moments away from speaking to fcc acting chairwoman. we are going to talk about the massive microsoft hack, the future of 5g and more. this is bloomberg. ♪

♪ emily: an attack on microsoft's widely used business email software is morphing into a global cybersecurity crisis. the company said the attack started with a chinese government backpacking group and the number of victims has already hit 60,000, according to a senior u.s. official with knowledge of the investigation. the white house's warning companies to take the threat very seriously. we are going to ask fcc acting

chairwoman jessica rosenworcel for her reaction to that as well as how she plans to shape the commission going forward. here's jessica rosenworcel with us next. this is bloomberg. ♪

emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. newly discovered flaws in microsoft's software for emails have raised concerns at the highest levels of the u.s. government. at least 60 organizations globally, many appear to be small and medium-sized businesses, have been hacked via holes in the the company's software by suspected chinese hackers. this coming just a few months after suspected russian cyber attackers. joining us now is fcc acting chair jessica rosenworcel.

thank you so much for joining us. look, i know cyber is not square in your purview, but cyberattacks are on the rise and you closely follow technology. and i am curious how you are watching this unfold, and if there's anything the fcc might take on to ensure our networks are more secure and resilient. jessica: thank you for having me. cybersecurity is really an important part of our national and economic security, and the risks we face are only growing. i think governments from the fcc on up is going to have to work more closely with private industry to make sure we have the tools to address these challenges, because they are not going away, and today's news is just a demonstration of that. emily: so, how will the biden administration start a new chapter for the fcc? what will change? jessica: well, i think what has changed a lot in washington is the recognition that broadband

is no longer nice to have, it is need to have for everyone, everywhere. and this pandemic has demonstrated that with painful clarity because we've all been told to go home, work if you can online, go to school online, have your doctors appointments online. and so nobody's got a fair shot in this country if they don't have internet access at home. we have got to figure out how to make sure access gets to every household and every person no matter who they are or where they live. emily: now, the ruling on net neutrality was perhaps the most controversial ruling out of the sec under president trump. i am curious, you are on the record opposing the net neutrality rollback. would you propose the fcc reimposed net neutrality? jessica: you are absolutely right. i support net neutrality. and i opposed the last administration's rollout of the net neutrality rules.

here there is a short-term and the long-term. and here the long-term and the news out of california. in 2017 when the fcc stepped out of net neutrality, states stepped in like california. and just two weeks ago, a judge in california said that california's own net neutrality policies can now go into effect. that is big news. but in the long term, we need a national policy on this issue. and that's something i intend to work with at the fcc and also with folks in congress, because once again, i think that net neutrality should be the law of the land. emily: now, i'm still at home, i believe you might still be at home. jessica: you are at my dining room table. [laughter] emily: thank you for having me. it's a good time to check in on america's broadband policy and what you are doing to close the digital divide. at this point we have got kids across the country who have been

home for a year. what's it going to be like as we all start to come back online and how concerned are you about the folks who may have been left behind? jessica: we have a digitally disconnected population in this country. so i'm really proud of something that the fcc did about a week ago. we put in place something called the emergency broadband benefit. it is really historic. it's our nation's largest effort at broadband affordability in our history. we set aside $3.2 billion. congress helped us do that, to make sure low income households could get online. the support is $50 a month for those households, so people who have experienced job loss and applied for unemployment insurance or who are on medicaid oral have pell grant's are all eligible. and it is to make sure that they

are not going to lose access to the world online during this crisis. i think it is important we build programs like this because we don't solve our nation's digital divide without having programs that address affordability. and this emergency broadband benefit is a really big one. i'm proud of the effort we made at the fcc, and i expect it will be available in a few short weeks. emily: so, if confirmed, you would be the first woman to permanently lead the fcc. we are all watching your future very closely. is there anything you can give us? what kind of conversations have you had with the white house? are you going to be the chair of the fcc? jessica: ah, well you know, that's above my pay grade, but i am doing my best right now. it's a privilege and honor to lead the federal communications commission, and communication, technology is keeping us all connected in this crisis. it is really important. emily: so, look, there are a lot

of women, a lot of young girls who are concerned about backsliding, concerned about being left behind in this pandemic, especially if they did not have that digital access. how much of a priority will that be for you? jessica: well, i think we've got to figure out how to get everyone online everywhere, and we've got to start using every tool we have in washington to make it happen. that is something i'm working on at the fcc. and i am especially aware that there are students who fall into this homework gap that have internet access at home but are locked out of the virtual classroom. the good news is that congress is looking at legislation to help with that problem too. i think we have a lot of progress we will see in the next few months and i'm excited to be leading it. emily: so, speaking of progress, the fcc ruled that spacex is eligible for subsidies for supplying rural broadband service from its slate of satellites.

these satellites are now already aloft. i'm curious if you think this is a good use of public subsidy, and when the fcc will complete this review of whether funding spacex and some of these proposed recipients is inappropriate use of funding. jessica: it's a preliminary decision we are looking at right now. but the bigger point here is we need to start addressing these issues of the disconnect and using new technologies. it had always been that we only reach fiber facilities on the ground and i think we have to be open to new technologies like fixed wireless and low earth orbiting satellites. because some of those new technologies can deliver really high speeds at lower latency than in the past. and i think we can get a lot of people more connected in rural areas a lot faster if we open ourselves to some of those opportunities, like the you

ones described. emily: at the moment, the 2-2, democrats versus republicans. i know we talked about broadband, working on 5g, what will you be able to accomplish with a democratic majority? jessica: well, on the 5g front, i don't think this issue is especially partisan. a good 5g plan involves both spectrum and security. and i'm working really hard with my colleagues to bring more midband spectrum to market, so carriers have the airwaves they need to deploy. we are working really hard to make sure our nation's networks don't have vulnerable foreign equipment in them that could open us up to surveillance problems. so, we are working on spectrum and security, and it is my hope that we can make progress on both in the short term, regardless of the makeup of the

committee. emily: all right. fcc acting chair jessica rosenworcel. we will keep watching to see about that permanent slot. thank you so much for joining us. all right, coming up, google launches a new challenge worth $25 million to tackle gender inequity around the world. we are going to speak to google.org president jacqueline fuller about their latest efforts to empower women economically, next. this is bloomberg. ♪

emily: google.org, the charitable arm of the search

giant, is giving $25 million to support global nonprofit and social organizations that are creating programs to advance economic empowerment for women and girls. the winners of the impact challenge will receive grants and mentorship from google, as president biden creates a gender policy council within the white house. all part of the emphasis on shifting trends and work and empowerment, and part of our work shifting conversation today. joining us now is jacqueline fuller, president at google.org. thank you so much for joining us. talk to us more about the challenge and what's in it for the winners. jacqueline: absolutely. i've been at google for more than a decade leading google.org , and i am so excited about this. it's my favorite thing that we have done. it is an open call, the google.org impact challenge for women and girls. we are going to provide $25 million plus expertise from our googleers. we're looking at a focus on

creating pathways to prosperity for women and girls, so really around economic empowerment for women and girls. it is open now on our site. g.co/womenandgirlschallenge. the the deadline is april 9. criteria-wise, we are looking for innovations. we want really bold ideas and we want to make sure the teams have strong capacity, locally represented, and ideas that can scale and have some evidence of impact. emily: now, president biden just created this gender policy council at the white house. what is your reaction to that? jacquelline: hey, all is needed in this moment for women and girls. i mean, as you know so well, we've been making such amazing progress for women and girls in education and jobs, but the covid crisis has really set us back.

we have seen women be disproportionately impacted, and that is true globally. they are more than twice as likely to have lost their jobs as a result of covid. here in the u.s. and around the world, we see women needing to take on extra duties at home, whether that is teaching kids or taking care of their aging parents. in fact, we are seeing about 10 to 15 hours more work per week that women are spending on caregiving. and children have had to leave school globally. we know that that's happening around the world. but the estimates are that 20 million girls may not return to school after the pandemic. so this is a moment for all of us, government, civil society, companies, individuals, to really stand up and help women and girls along that economic pathway. emily: i am glad you mentioned that, because i'm concerned

about women backsliding, especially moving some of the progress made, especially as i am listening to my kids shuffle around upstairs while i talk to you from my basement. what kind of policies do you think are necessary to get women back into the workforce, to make sure that we don't move backwards and only move forward? jacquelline: well look, here's something that is very positive. is that we know there are pragmatic solutions that actually work. so, one of them is thinking about reskilling. so through the grow with google program that we are helping with, we are training more than 20 million people globally and -- in digital skills. and we know that when people have access to these skills, they can help advance their careers. so we are we are launching things like i.t. support to help people who have never even touched a computer get into that rung of the ladder into tech careers. the good news is there are solutions out there.

but i think one of the things we need to see as well, let me just be to my world, of philanthropy, we need to make sure there's more philanthropy going to specifically support specifically women and girls. only 1% to 2% of all philanthropy is tailored to closing gaps and solutions for women and girls. so we would need to get more dedicated philanthropic capital which is often risk capital, early capital that can really help push innovation. we also need to see more women who are in leadership and decision-making, and frankly, deciding where that money is going in philanthropy. it is one of these fields where we see about three quarters of the staff in philanthropy is female, but only half of ceo's. and then if you look at the largest philanthropies, only 25% are led by women. emily: thank you for pointing that out. a really important statistic there.

i always like to lean back on the numbers. president of google.org, jacqueline fuller. thank you so much for stopping by. we will follow that challenge and how it plays out. all right. coming up, the self-driving revolution is upon us, according to an amazon backed self-driving . i will speak to the ceo, next. ♪

emily: zoox, the self-driving company backed by amazon, has high hopes for the future of autonomous cars. the company made headlines when it announce their self-driving all electric taxi designed for dense cities and complex roadways. amazon bought it last summer in what's reported to be its largest investment yet in self-driving car technology. joining me now is zoox's ceo, aicha evans.

thank you so much for joining us. it's been quite a year since you sold to amazon. and certainly a crazy and unprecedented year at that. what has it been like being under the amazon umbrella over the last few months? aicha: first of all, thank you for having me. we really appreciate the opportunity. it has been great. it has been about six months or so, and our mission is intact. obviously it's nice to not be fundraising out there and we are also learning a lot from amazon, so it has been really great. emily: so, you have been building these autonomous shuttles. we just saw an image of it there. how many have you built? are you testing them in the wild yet? aicha: we have built a little over 10, and we are testing them in a private facility that behaves like public roads, and also on test tracks. emily: so, what is the vision here?

aicha: the vision is really reinventing her reimagining personal transportation, making it cleaner, safer, and more enjoyable for everyone. it's important to note our business model is we don't sell you a vehicle, we sell you a ride. and we think in a dense, urban environment, that makes a lot of sense. yes, the technology is fully autonomous because you have an app and you say i want to go from point a to point b. the vehicle shows up, sliding doors, you sit, buckle up, you have a screen that has your route and your music and you arrive at your destination. the doors will unbuckle, then you step out and it picks up a new passenger. so we are constantly moving around and when i'm not using it, someone else is using it. it's mobility on demand, it's just enabled by a fleet of fully electric and autonomous vehicles, and you don't have to worry about charging, maintenance, any of that.

you just get the benefit of rides. emily: so, how far away from this becoming reality? when might we see you launch a commercial service? aicha: well, we are testing in san francisco and las vegas. so i think it is fair to assume that we will be in those places. we like to say we don't have any specific announcements at this point in time, but it's not next year for sure, but it's sooner than people imagine. this is really an inflection point in transportation. it is the beginning of the wave, and it is something that is really going to change how cities develop how we move around and it is going to unlock a lot of opportunities. and so, not next year, but a lot sooner than people realize. emily: and will you be delivering my amazon packages? what's going to be the relationship, or will there be a connection to amazon itself when

the service launches? aicha: the way we like to put it as morgan stanley says, this is a multi-trillion dollar opportunity and moving people is the foundation for us. we will concede that once we are good and safe in terms of moving people and we know how to scale that, or we actually scale that, i think it is fair to assume we can move packages. first we will move you, and then we will move your packages a bit later. emily: all right. well it is international women's day and you have been breaking barriers in a white, male dominated industry for a long time now. i'm curious how important you think it is to have diverse perspectives in the room when you're building a company and a product as important as a self-driving car. aicha: first of all, i think it's important in all industries. women do represent half the population, meaning half the customers, half the consumers. diversity of thought and being inquisitive is one of the most important things. it makes the product better.

we were just talking about this this morning. when i arrived at the company, about one mourned -- about one month or six weeks in, we were having a discussion about pickup and drop-off. the pandemic notwithstanding and what have you -- occasionally, i like to go on the town like everyone else and put my high heels on for a dinner date or something. i personally don't want to be walking too far on those high heel shoes. the truth is they hurt, at least for me, and so just being in that room and having that conversation is key, and there are multiple examples. if you want to be there and provide value to customers, one cannot ignore half the population. emily: amen to that. if you can shorten the amount of time i have two wear high heels but give me the chance to put them on, i am all for it. i'm curious how much time you have spent with jeff bezos and what kind of a leash, how long a leash he's given you in terms

of additional funding, like what could be coming down the pike? you are still an independently operated company. could we see an ipo? aicha: all right, so lots of questions in there. look, we've spent reasonable amount of time with the leadership at amazon. they've been very helpful. i don't know about a leash. that's not really the basis of our relationship. as you know, amazon is one of the few u.s. high-tech companies that has been able to create value. they are a multibillion dollar business. they are bold, they are visionary. we are learning a lot from them. needless to say, i'm enjoying not having to fundraise on the open market anymore, and we have the capital required to go forward. emily: all right. aicha evans, fascinating to hear about your progress. the ceo of zoox. thank you so much for joining us. we will keep watching how it all unfolds on the road.

i will have my high heels in tow. and that does it for this addition of "bloomberg technology" on a very special international women's day. and a programming note, we are going to have a lot more conversations about race, gender, and diversity at our bloomberg equality summit starting next week, march 16. i will be speaking to melinda gates, cochair of the bill and melinda gates foundation. as part of that event we will be talking about the philanthropy that goes toward women and girls and some other very important topics, as well as how women are faring in the pandemic in general. excited for that one, and thanks for watching this special edition of "bloomberg tech." this is bloomberg. ♪

>> this is "bloomberg daybreak: middle east." manus: the nasdaq extends his losses to close 11% below its february high. yousef: funds are among those getting -- by the selloff. her eyes are on the prize. manus: china csi 300 also in a correction. nationstate