♪♪ ♪♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, apple to $3 trillion by 2030, so says citiedy, any apple car would send conversation skyrocketing, that plus a clue, deep within the home minuty, a secret sensor, what is it for? plus president biden formulates

retaliation against russia and now china for recent cyber attacks. we'll get perspective with just how big the hacking problem is with the c.e.o. of crowd strike, george kurtz. and reality check, a new survey finds remote workers feel more burnout and want greater flexibility and say their bosses are out of touch. what the repercussions could mean for corporate america. all those stories in a moment. first, leading stock gains on money, we have more on the market action of the day, let's take it away. >> well, emily, kick it off macro here, tech had a fantastic day, you see behind me, the s&p 500 in the green, those tech heavyweights really helping it and we have the nasdaq 100 as well, even semiconductors had a really good day. it didn't stop there. biotech which doesn't trade in line with the big tech names, even that had a very good day, of course, we know that the 10-year yields dropping a little

bit didn't actually hurt tech's case, it helped it. of course, that correlation is extremely important lately. i want to zoom into the nasdaq 1100 and a year-to-date basis. you can see where we started the year and how where we are so far and you can see that it's actually dropped below its kind of gain for the year and then recovered, not once, not twice, but three times. that really brings me this idea of what actually is driving the nasdaq 100, of course, we know that yields are a big part of it. i want to show you the correlation inside my bloomberg terminal really telling you look how sensitive big tech is to those yields. and it really is extremely important. you can see that that sensitivity from the nasdaq 100 to the tipped yield, you can see it all the way, the correlation, 0.42, the most inverse all the way back since 1997. that's the macro story, emily, i want to get to the microstory, for that, here is ed ludlow. >> two names at the top of the tech free, apple and tesla.

apple up 3%, best session in around two weeks, you'll be familiar with the note out saying that the recent weakness in apple stock could present a buying opportunity. the other name on the move, tesla up 2.3%, of course, a big call on friday from cathy wood saying the bull case scenario, $3,000 a share on tesla by 2025. n.h.p. semiconductor down by .8 of 1%, it had been higher in the session, the first day trading on the s&p 500. i want to apple and tesla side by side and put into context their, i guess returns so far this year. as you can see, they have really trailed the s&p 500, both down double digits from the january highs, you can see here. now the narrative with the market really changing, when will we see a $3 trillion market cap for these companies and different voices participating saying it will happen this decade which is kind of

interesting to look out for. it can't all be green, though, one name in the red is s.v.b. financial, the parent company of silicon valley bank. it's going to issue 2 million shares of common stock basically to fund growth, to fund its operations. it's been a beneficiary of the pandemic so far. if you look at its trading activity over the last 12 months, it's been lending those high growth tech and health companies many of which fount relevancy during the pandemic, but wanting to issue stock, wanting to raise funds and build on that growth momentum bloomberg intelligence saying that's exactly what we might say, raising money, giving them growth. that's the kind of movers we're looking at on monday, emily. emily: thanks so much for that update. staying focused on apple and much fanfare, apple releasing its home pod mini with many features including a home intercom system, but buyers got something that apple has kept a

secret, a built-in sensor which measures temperature and humidity, discovering this hidden piece of hardware, mark, what can you tell us? mark: thank you for having me, ellie, like you said, there is a temperature and humidity sensor in there. it's very interesting. so many implications for what you can do for that sensor, right. is apple ultimately enablings it in a software update down the road, the system will tell how hot it is, how cold it is, what the air quality it is in the room that the home pod mini is and perhaps automatically control your connected thermostat. if it's really hot in the bedroom and you have it in the bedroom, the thermostat may know to lower the temperature in there. if it's really hot in a room, it may know to lower the temperature, very cold to raise the temperature. so lots of fun implications with that. emily: so, talk to us about the

implication and what else could be unlocked with this new feature? is it something unusual for apple to take this more secretive route where even users and buyers don't know that there is this possibility? mark: it's very rare, there have been a few instances in the past, but they haven't been recent, about 13 years ago, there was an update to the ipod touch, basically the iphone that had blue tooth, about the actual blue tooth feature wasn't enabled until a year after it came tout via software update. it's likely a reflection where the harbor was ready, but the software and service to take advantage of it was still in the oven. emily: talk to us about apple's broader strategy. there is the device strategy, the home pod strategy and this $3 trillion market cap target now by citi, talk to us about how this fits into the larger

goal? mark: to me personally, i don't think it really takes a lot of math and research to call for apple to hit $3 trillion by 2030. they went from $1 trillion to $2 trillion in double digit months, eight years, nine years until 2030. if apple does have hits on its hands with the v.r. headset, the a.r. glasses that it wants to replace the phone with in about four to six years from now, if they do end up launching a car to take on tesla by the end of the decade, there is a lot for shareholders to vinnest in, a lot of new products for consumers to buy and an even larger ecosystem to lock consumers in and they will have people continuing to spend money, on headsets, cars, glasses, all sorts of stuff down the road and all of the accompanying subscription svz that will go with that. the future is long and very strong for apple. emily: speaking of a long future, let's talk about the short term.

what device unveils are you expecting for later this year, will it be the typical fall rollout for iphones as always? mark: yeah, i think the next thing we'll see is the launch of new ipad pros, those are just weeks away. you can expect an unveiling of some sort during the month of april, so not too far of a wait for that. you can expect the new iphones, their normal release cycle around october, november, new apple watches as well. a new entry level ipad at the end of this year, a redesigned ipad mini in the works. the really big story, it's not the most interesting part of apple, but i find it fascinating, i know you use one, too, you'll see lots of new mack books and other new macks across this year and next year as well, new designs and features to take advantage of the m-1 and m-2 processors with apple's own technologists built in. emily: "bloomberg technology's"

that is correct german, thank you for your insight and analysis. coming up, looking forward to that long awaited direct listing, you have to wait little bit longer. details on the crypto decision to push back its direct listings, next. this is bloomberg.

emily: n.f.t.s has become the latest crypto craze for those looking for fast returns on their investments. what is an n.f.t. and how do they work exactly? we'll take you behind the latest art form that has invaded the

crypto sphere. >> this was sold by christi's early march for $69 million. same price as this picasso back in 2018. and so for the first time in a 250-year history, the auction house stepped into the world of nonfungible tokens or n.f.t.s. leading the crypto art boom, his 10 second video of biden and trump went for $67,000 in october and for $6.6 million four months later, a different price and a different form. the video morphed into a defeated trump laying on the lawn, a pretty good deal for the investor known aspablo. >> i didn't know that it was going to go up in price in the matter that it did, but i was sure that this version was going to be the symbol or the leader of this movement. >> n.f.t.s are like a certificate of authenticity proving you own the digital

artwork. just like bitcoin, n.f.t.s rely on the block chain it. those use the crypto currency ether. each you use is unique and attached to a certain piece of art. the concept application could be limitless, from concert tickets to games and nature conservation projects. musicians like grimes and kings of leon have started selling n.f.t.s. >> the pandemic was an accelerator for anything crypto. is a valuable alternative right now to monetize your work as an artist. >> the size of n.f.t. market is anyone's guess. digital sports cards from nba top shot alone have generated over $300 million. >> i think if you look at that market more broadly, it's probably closer to $2 billion and, you know, it's growing extremely rapidly. even with super air, we saw volumes increase 4x just from january to february.

>> but just like bitcoin, there is a climate cost. >> there are a lot of new emerging networks on a different system called proof of state and this reduces the impact by 99%. >> whether n.f.t.s can match the bitcoin craze is the million token question, unless it comes back to a last year question, what is art? emily: and in rare n.f.t. news, jack dorsey's very first tweet sold as an n.f.t. or nonfungible token this past sunday for the equivalent of $2.9 million in the crypto currency ether. more crypto news coming out of coin base, the biggest exchange is aiming to go public in april after its plan for direct listing this month because it's being reviewed by the s.e.c., to discuss we're joined by at all conx c.e.o., thank you for

joining us. as i understand it, you believe a sea change is happening in the crypto world and that mainstream acceptance is coming and here to stay. what do you want or what do you expect, falcon x's piece of the larger pie, what do you expect that piece to look like going forward? >> yeah, thanks so much for having me, emily. at a high level, fallon e to define that so we understand what part of the market it is, it's a one stop shop built specifically for institutions. we help institutions all the way from creating, credit, clearing, so essentially i think one of the biggest transitions that is happening right now because of a lot of traditional institutions coming to the states is the expectation for the brokerages, no longer are they looking for simple on an exchange, they're looking for very complex

workflows, preexport leverage, so from that standpoint, a lot of institutions coming from the traditional world are expecting the brokerage services that they're used to and that is one place where falcon e as a company would like to basically be. emily: you have been in the process of raising money, the valuation keeps going up, how do you want to use that money and why keep raising money? raghu: that's a great question. in terms of the fundraise itself, we want to be able to be in a position to power the growth that is happening in the industrial world broadly, emily. first and foremost, if you look at our growth in one year, less than a year with a team of 40, 45 people, we had to scale up transaction volumes to about $6 billion on a monthly basis, we grew 12 times in one year. in terms of revenue, revenues grew by about 15 times.

the last four months, four to five months have 1,100 or so institutions came to the platform. so what that means is we need infrastructure that can scale, can provide the same level of trust and reliability. we need to be adding on engineering and product side of things. the second part, emily, as a lot of institutions come in, we have been in the front and center of that. if you look at the institutions coming in, it's going a lot. it's no longer just the traditional hedge funds, a lot of treasuries, public and private, a lot of banks are thinking. when these customers come in, they expect a much more nuanced in terms of the client, how should i go about it, how'd should i get exposure the right way. that what means, it translates to a lot more with a service in form of -- we are using our money primarily for scaling up our teams and the second part on

the customers so that customers have a good experience. emily: so what do you make of coin base's listing getting pushed back. coin base going public is being considered at this sort of moment where crypto could go mainstream and it certainly is symbolic, but there is still scrutiny happening. isn't that another challenge? >> i think it's actually a good thing for crypto, emily. first off, coin base listing, it's a defined moment for industrial, why? if you look at the source of funding that are shaping industry, it's like selling tokens for future cash flows or rental capitalists, for the first time, they saw a company that is incubated, go all the way to public market listing $7

billion or plus. for venture capitalists, what the space could mean. we are seeing a very good influch of high quality money. i think that's very powerful. the second part of the question that you ask in terms of what does it mean, institutions in general are looking for better regulatory clarity. if you look at what's going on, some are not available, but having 5% of expectations around market data and integrating, how trades are reported, all these things, the clarity around that is going to be very powerful for institutions in general for approving things like best execution. while the delay is pushed off by two, three, four weeks, it's actually a welcome change for institutions in crypto. it's also supported by data. last time, the last two, three times major regular tiv moves happened, institutions acted very well, rather than the news, so likewise we are beginning to

hear good things about most of the institutions working, they're welcoming that regulators are looking at market data and all of this closely. emily: there any m and a interest around falcon e, have financial institutions been shopping? >> so especially the last six months, yes, a lot of major banks, they're all considering the build versus buy decision privately because a lot of customers are reaching out to them in understanding what crypto means to them. yes, over the last six months, it's been a lot of inbound, not just u.s. banks and institutions. emily: so bitcoin at $54,700, i had folks tell me it's going to infinity, the moon, and beyond, give me a more realistic number, where do you think this is

headed? >> yeah, i have seen crazy numbers come up. i'm not sure if all of those things are justified. what i can definitely tell, emily, this time there is a much more fundamental shift than what is assigned to the 2017 bull run, what is that fundamental shift, especially in the backdrop of printing a lot of money, $6 to $8 trillion at least, a lot of institutions are seeing bitcoin as an inflationary hedge, especially talking about it, that really brought a lot of value to traditional institutions and traditional hedge funds. that is one aspect. the second fundamental shift we're seeing is the u.s. dollar, what is really interesting from our standpoint when we look at all these institutions are evolving, they came in because of the inflationary hedge. a small portion started

experimenting and the third shift that we're seeing, instead of using u.s. dollar as basically the base for these transactions, they're beginning to use a stable coin backed by u.s. dollar. it's 24-7, you can work on the weekend as well. as cryptover is moving on the weekends, a lot of the traditional institutions who haven't been on the weekend, are trading on the weekends and leveraging the efficiency to improve the balance sheet efficiency there. with all of the fundamental shifts coming in, i'm much more stable and optimistic compared to the 2017s of the world, emily. emily: you also think institutions and corporations are all going to be investing within a few years. do you think companies like uber who said, we're not investing right now we're not speculating and others will be eating their words and at what point do they say, well, we're going to invest in it, too, in your view?

>> yeah, i mean that's a great question. if you look at the interest of corporate treasuries coming in, we saw the first wave of them come in this october and november. a lot of them were just dipping their toes, yes, there is this 8% bitcoin exposure from tesla, but that is foreign. most clients is 1 to 2%. now they're really cautiously coming in, especially with the recent announcements with some major companies coming in, there is a lot more activity. we are in conversations with a number of fortune 500 companies. some of them are really skeptical, yeah, bitcoin exposure, we're not sure, but what is interesting, emily, is the most of those corporate treasuries are also looking at, maybe not bitcoin exposure, we're not ready for that, the new generation in crypto is much more efficient that the commercial maenchlths a bank would give you 130, 140 basis

points, players like us, we're seeing about 600 to 700 basis points. that is where even people are jumping in. emily: falcon x c.e.o., we'll have to have you back soon to see if your predictions ring true. thank you so much for joining us. coming up, the crackdown on sharing netflix passwords heats up as netflix is losing millions a year by letting it slide. the story is next. as we head to break, taking a look at the markets. tech stocks rebounding as bond yields slide. we're starting to see buyers taking their first nibble trying to buy the dip, netflix, apple all rising there. this is bloomberg. . this is bloomberg.

emily: now to a few other top tech stories we are keeping our eye on. new analysis saying netflix is

losing billions because of people sharing passwords. the sharing costs u.s. companies about $25 billion a year. more of "bloomberg technology" after this quick break. ♪

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emily: welcome back to "bloomberg technology." i am emily chang in san francisco. uss microsoft is making progress closing out vulnerabilities. the company rolling out a software fix last week which has been downloaded more than 25,000 time by impacted users. one agency says there is still cause for concern. ed ludlow has the latest. ed: the number of companies or

entities still vulnerable to the microsoft hack are coming down. around 45% of the entities identified as vulnerable have used the patch and plugged the risk. what we are hearing from officials is the microsoft patch is working. it is not enough. more needs to be done. those calls are being led by the cyber security and infrastructure security director who said don't just rely on the patch. if you are an i.t. manager and have been at risk, we know more needs to be done. the vulnerabilities can be scripted. that is a risk that is unacceptable. a lot of concern around thcrt hd some new businesses so quickly. and by the time it was identified, there was this automation angle where the code had been written in the vulnerability through the

microsoft server could be easily accessed. if you are vulnerable, you are open to further ransomware attacks so do something about it. emily: we know now the new microsoft exchange hack potentially dwarfed solar wind. what have we learned in that area? ed: on friday, a swiss cyber security company revealed they had accessed the service of one of the hacking groups involved in the solarwinds hack. they did not reveal much about the identity of the hackers but did draw a rich picture about the type of activity they were undertaking. tens of thousands of downloads took place through the solarwinds software, but they only identified 4700 entities currently targeted by this specific group. they said the group in question had a lot of characteristics that did resemble a state

entity, but they did not go as far as to label them a state entity. they said they appeared to be spying on targets across the private-public sector but also drawing data from i.t. companies, defense contractors, and consulting companies where they might get access to financial data. the biden administration said they would move quickly addressing these. they have not said much other than to say they are working with solarwinds and microsoft too quickly shore up infrastructure susceptible to cyber attack. emily: ed ludlow, thanks so much for that update. sticking with cyber security, it has been top of mind for companies and institutions with the increase in remote work, businesses moving to the cloud, and the latest attacks.

tech companies like crowdstrike are seeing a surge in demand. the stock is up 280% this year with a stellar earnings report. it shows no signs of slowing down. some critics are wondering whether this could be another pandemic field success story. joining me with more is the crowdstrike ceo. it was a huge quarter for you and i am sure you would pushback against the narrative this is purely a pandemic driven success. how do you see it post-pandemic? >> it was really not just a pandemic success. the bad guys are not going to go away when the pandemic is over. you just talked about all of these hacks out there. we are seeing companies are driving forward with their digital transformation strategies. they have to transform security architecture as well. we think that is a long-term sustainable trend we will see into the future.

emily: crowdstrike has been working to help mitigate the impact of this suspected china-based hack on microsoft's exchange. what have you learned so far? >> it is widespread. i think 250,000 customers were impacted. microsoft customers were impacted. we are seeing a lot of automated scanning. the servers are easy to exploit. it is a massive problem. you can take data off the servers which is bad in itself, but if you get into cryptos servers, that could have a massive impact to companies around the globe and government organizations as well. emily: are there more deadly details to unfold? how much do we still not know? >> there is always more details. we only know as much as we can find out. we can never quite get in the

minds of who is doing this and what they are doing. whether you have the complete picture or not, you never know. we can only talk about what is available for everyone to see. and that is the number of systems infected, how impactful this vulnerability was from a microsoft perspective. and how easy it is to exploit. and just the mass scanning happening. i think more to unfold. hopefully, these organizations can patch these systems so they do not get nailed from the crime actors. it does reinforce what we do at crowdstrike employing protection so we can identify them prevent these attacks even without the patch. emily: let's move on to solarwinds because crowdstrike has been helping with eight russia-based hack. i know the details with this have been emerging. what has surprised you about

this particular hack and both of these in quick succession? >> i think when you look at the sunburst attack with multiple parties involved, specifically solarwinds, and we are helping them. it goes to show how patient these nation-states are in terms of attacking systems. the amount of care that went into identification of systems they could touch, how to breach the back door, how to make sugar was persistence in the backdoor code, and how to make sure others were not able to see their activity. they were very targeted what they did. it was very targeted in specific organizations they wanted to get into, including covering their infrastructure to make it look like it was coming from the u.s. also, trying to blend in as a normal user as opposed to an

admin. it was a very stealthy and well-planned attack. emily: what are the biggest nation-state hacking trends you expect to see emerge this year that we perhaps have not seen yet? >> i think supply-side -- supply chain attacks is a big long. there is a big focus on it right now. how anymore are out there? it is a treasure trove of opportunity for the adversaries but can get into the supply chain. data theft is important. we have seen the chinese have been big into stealing intellectual property and being able to commercialize that. i think it is a lot of the same. unfortunately, we are seeing a lot of very sophisticated technology breaking into systems that have transcended down to e-crime actors that did not have

the expertise to create the technology but they know how to weaponize it and deliver it for me ransomware perspective to cause massive impact to organizations. i was talking to a company over the weekend that was not a crowdstrike customer that got hit by ransomware. they were in the health care industry. there systems were down. you're talking about lifesaving technologies and companies. it is a massive impact. hopefully, we did not see more of that. but unfortunately, that has been the trend. emily: george kurtz, ceo of crowdstrike, we will be watching to see how the trends pan out. thank you for joining us. coming up, is work from home here to stay? microsoft just released a study that shows your boss may be out of touch with reality in that high productivity might be masking exhaustion. we are speaking with microsoft's corporate vice president next. this is bloomberg.

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>> the pandemic brought forward the digital transition in europe by seven years. it has been estimated 20% of work hours will move permanently from office to home. >> for us to go back and have every single individual coming into the office five days a week feels like a wasted opportunity. >> you can save people commute time. you have better access to talent . >> coming out of this crisis or the pandemic, we will all recognize the importance of flexibility. there are real reasons why people may want to work from home.

none of us want to be constrained anymore by the place, time, or location. emily: the bottom line is remote work is here to stay. this is according to many global leaders we have spoken to over the last several months. but how companies and employees embrace it is a big question. microsoft took a survey of 30,000 global workers and found the majority feel they are struggling or just surviving in pandemic work conditions, and a large percentage are considering leaving their employer this year. most business leaders pulled say they are thriving. joining me now with more is microsoft vice president jared spataro. welcome to the show. the headline to the story says "clueless bosses fail to see employees are struggling." why the disconnect? jared: we have tried to make

ourselves students of the moment and get data to inform our position. a lot has happened over the last 12 months. if we look at a couple of data points, let's look at the idea of bosses and how they are doing. 61% of leaders say they are thriving right now in the current conditions. that is a full 23 percentage points above the average worker. we get the sense there is a disconnect on that. the data also indicates employees really appreciate >> ability. over 70% say they will take advantage of flexible work policies post-pandemic, but they are feeling a sense of burnout right now. this is a moment for leadership. he could easily be lost on leaders. we see that in the data right now. emily: there are sort of two phases, mid-pandemic, there is still a safety risk. not everyone is vaccinated.

there is post-pandemic when there is not a safety risk at all. let's start with mid-pandemic, right now, when there is still a safety risk, what should employers be doing? jared: we think it is important for every employer to take a step back and recognize the importance of the moment. as you indicated, the messy middle right now might be one of the hardest spaces. we won't be completely remote. at the same time, we won't be all the way back in the workplace. we have to deal with the hybrid reality. we think the leaders have got to think about three things. they have to think about the policies they are putting in place for their organizations. how do they signal to employees that health and well-being are important and allow flexibility? we think they will have to reconfigure their spaces. it is clear we will have to do things differently in the workplace. finally, technology will be an important part of the recipe as we try to make this work.

our biggest recommendation is for leaders to create a plan that has those three elements and look at the data and see what it is telling us to make sure we are getting the elements right. emily: the messy middle really hits the point home. then i think about post-pandemic which will also be messy because you have employers who have said employees can work from home forever and employers who have said the future is hybrid. there are also employers who want employees to come back to the office. how do employers and managers negotiate that tension with employees who have experienced the benefit of remote work as well as the cost and want to choose? jared: if you are deliberate and have some vision, if you can see into the future and chart a path for your organization, you can have the best of both world. you can have the flexibility and all of the benefits of face time

with people in person. this is the warning i would give. if you let this thing unfold into post-pandemic, i think there is significant risk for your organization. the biggest single thing can tell leaders is they need to think about investing in culture and making sure they rethink their operating model. they will not be able to go back to the way it was before. many people think there will be an all clear whistle that blows. that is not the way it will be. the data clearly points to that. it is telling us that right now people are feeling overworked. they feeling a lot of stress. at the same time, they want this >> ability to persist. you have to get a plan and lead out on a plan of where you are going together. if you just let it unfold, there is a real risk. emily: microsoft has said employees can come back at the end of the month if they want to. we are hearing a lot of employers say that right now.

employees broadly seem to feel that whatever they choose comes at a cost. if they don't show up in the office but others are, will that impact their evaluation? how is microsoft negotiating these tensions having access to all of this data? jared: it is important to think very deliberately about the type of culture you are going to set up. from the policy perspective, we declared a couple of months ago you can work from home up to 50% of the time without trying to signal we think some in-person work is valuable because of the face time they have. the flexibility can be extremely liberating as well. as we go back, one of the most important things is making sure in the new hybrid culture we are creating that we can help people to work together whether they are in the same room or 5000 miles apart by using a

combination of space and technology. we are seeing the digitization of time and space. that is what happened over the last 12 months that business leaders need to understand. with the right technology, we can bridge those gaps and bring people together in very effective ways to be creative. for microsoft, we are doing exactly that. we are revamping what we are doing with space on our campus. we continue to invest in technology. microsoft teams is one of the greatest platforms. we are trying to use that to create this digital organization -- organizing layer that bind you together no matter you are. emily: we could have this debate for hours, but we will have to leave it there. thank you so much for joining us and sharing your new data with us. jared spark -- jared spataro,

microsoft vice president. astrazeneca maintains its vaccine is safe and is looking for emergency use approval in the united states. we will have an update as cases rise globally. this is bloomberg. ♪

>> based on the current data, the vaccine is highly effective and very safe. we are very confident. many regulators are very confident. the vaccine has been approved and more than 70 countries. our next priority is to get this vaccine approved for emergency use authorization in the united states. emily: dr. dobber of astrazeneca saying vaccine came under scrutiny is safe. the company is seeking emergency use authorization in the united states. it comes amid new developments regarding cases globally.

germany will extend the lockdown until mid-april after the case rates doubled in a month. in new jersey, the governor paused the reopening plan as the case count surges to the highest in the nation. the cdc morning americans the spring surge could be here, warning them not to let up on social distancing and mask wearing. for more on where we are in the global picture is jodi schneider. give us the latest on astrazeneca. >> these numbers were better-than-expected. 79% efficacy rate which means it was 79% effective treating -- preventing cases of covid-19. in terms of preventing severe

cases, hospitalizations, and deaths, it was 100% effective. there were no deaths and no serious cases that came from the study. it is a good result. the stock did well as a result today. it looks like it will be headed for the steps needed to get the emergency use authorization as the pfizer, moderna, and johnson & johnson vaccines have already done in the u.s. in europe, there are lingering concerns even though the european drug officials said the concerns of blood clots were overrated and it does not have a high risk of blood clots. but still, there have been concerns in some countries that linger. there has been vaccine hesitancy in the e.u. as a result. emily: let's take a listen to this warning from the cdc, which is in a nutshell, do what you are doing and don't let up. take a listen.

>> i get it. we all want to return to our everyday activities and spend time with family, friends, and loved ones. but we must find the fortitude to hang in there just a little bit longer. emily: give us the broader picture. cases in new jersey continuing to rise. new york talking about pausing reopening, along the lines of new jersey. it is terrifying. >> this has long been feared, that as people got fatigued after a long winter and this prolonged having to wear masks and stay inside and all of that, that come spring, people would let down their guard. and even before you had herd immunity and a lot of the population immunized. that is where we are right now. we are starting to see in new york and new jersey where

hospitalization rates have been on a slide that they have started to uptick slightly. we are seeing a rise in cases, particularly in the variants, in michigan and minnesota. this is really concerning to officials that we cannot vaccinate everybody fast enough. if the variants outpace, you can see significant resurgence issues. you can even see surges in different parts of the country. they are saying hang on for a little while longer until we can get everybody vaccinated, which will take several months. emily: bloomberg's jodi schneider, thanks so much for your reporting and the reporting of your entire team. thank you for joining us and keeping us informed. that does it for this edition of "bloomberg technology." we have "daybreak: australia" coming up next. i am emily chang in san francisco. this is bloomberg. ♪

haidi: good morning and welcome to "daybreak: australia." we are counting down to the asian market open. shery: i am shery ahn. haidi: asian stocks set for a higher open. a dip in treasury yields is providing a tailwind for equities. the hong kong listing could

encourage