emily: i'm emily chang in san francisco. this is "bloomberg technology." coming up, bracing for follow-up. market tension see some revelations that goldman sachs and morgan stanley liquidated holdings and will hwang's

company family, archegos capital management after he failed to meet margin calls. plus a warning from cdc, covered cases on the rise. the green light from the governments to sell at home testing kits in may, his business till booby? -- still booming? and the future of headsets and augmented reality in facebook, one of mark zuckerberg's most loyal deputies who helped whether some of the biggest controversies from the beginning. we begin with the block trades seized on investor sentiment. talking about the market decline. kriti: so much hype and you do not see a ton of action today. take a look at the board behind me, a mixed picture as we go from index, and i will walk you through it. we start with the s&p flat, nasdaq 100 down .1%.

the action was in the small caps down 2.8%. and the pain in the semiconductor index as well. it is important to note the big tech names apple, facebook and google were the ones that lifted the s&p 500 higher, and that is what you do not see the same pain in the s&p 500 that you did in the small caps or semiconductors. flip the boards and i want to show you the nasdaq 100 for example. here's where we see tech pain today, a pullback. if you look at this in a two week basis, not much of a move, starting where we were two weeks ago. we want to see if there is momentum to move those tech names, either higher or lower, and right now you're seeing them tread water. i want to flip over the boards and bring you to the major story today. archegos capital fund blow up, and the volume, take a look. that is the volume of all stocks involved those trades, just today, compared to the stacked

volume usc going all the way back. that really tells you that is the story from friday, from this weekend, it really played into the narrative today. the question is it a place into tomorrow. that is the macro story so let's go to the micro story. ed: let's dig into the names of the heart of the block trade selling spree, not just a monday story, a multi-day event. monday trading, one stock in focus is viacomcbs down 7% at the close. it had been down as much is 11% at its lowest level since january now, multi-days of declines. discovery down 1.6%, after a dramatic fall friday of 27%, six days of declines. the other part of the story is the adr, american depository receipts of chinese companies. the context is not about one single day. look at the five date changes, five session changes of some of these names. this is the result, the impact we are seeing. if you move on a look at the

banks at the center of this story, those facilitating the liquidation of the block trade there are stories and not as well. starting with the american banks, goldman sachs off by just .5%. morgan stanley don't to .6%. according to sources morgan stanley was still shopping a large block of viacomcbs shares sunday. according to a single source goldman sachs is telling clients and shareholders that is insulated in terms of losses from exposure to those stocks at the heart of this story. really the story is in europe and asia. credit suisse off by 14%. nomura off by 16.5%. credit suisse and other lenders are exiting some of those positions still according to a company statement. at nomura falling by record with big exposure, they did not name to cuba date it was exposure. >> bloomberg's ed ludlow, thank you so much. with more on the how and why what is next, romaine bostick,

just wrapped a special on this topic. give us an explainer, it was a margin call and how did this happen in the first place? romaine: with a margin call you are borrowing to buy security or a block of securities here. this is effectively where you can use leverage to borrow something if you make money on it and effectively you make more money than you had. the idea here is the leverage gives you the ability for more upside. of course that leverage can work against you. so if you buy something on margin you are basically borrowing. the dealer requires you have a certain amount of collateral. that collateral is the stock effectively that you are buying. it says as long as the stock remains at a minimum level, you are ok. if the stock falls below a minimum level than the broker comes back and says, you need to either put more collateral, actual cash to cover that gap, or you have to give us securities themselves. on a small-scale this is not problematic and it happens all the time. margin calls are relatively

common. but on the scale of what we saw with bloomberg archegos --scale of archegos where bloomberg estimates was $20 million in securities here, that kind of margin call means the borrower does not have the cash in his pocket to cover that immediately. emily: doesn't margin debt go up when stocks go up as they have been? and why is this in particular such a big deal? romaine: it is really do scale, emily. this happens on a day-to-day basis with hedge funds. they effectively leverage positions to get better gains here. the problem is when trade start to work against you, you have to cover this positions in some way or another. by some accounts here, and this is based on bloomberg reporting, this is the family office by some accounts was larger than most of the hedge funds we normally cover here on bloomberg television. it had a tremendous amount of skill and from what we know, big part of that money the $20 billion estimate, was

concentrated in a small handful of stocks, which exacerbated the situation when that margin call came. emily: right, so the big question is will this kick off a broader market pullback or not? romaine: the consensus now seems to be, no, although you will find a few people who say this is endemic of something that has been going on in the markets. a lot of people really brushed off that gamestop saga at the time. they said this is just about gamestop, a small group of investors. of course now they are looking at what happened with this current issue, and saying, this is happening over and over again. now, the instances may not be related but the idea is when you amalgamate them together, raises issues about market transparency and about market fairness. a lot of folks we spoke to today including on the special we just aired on bloomberg television, said this is the type of thing that gets regulators'attention and has regulars coming into the picture now saying, maybe we need to change things.

typically, for wall street, that is not what they want to hear. emily: thank you for breaking that down it will continue to follow by the day, romaine bostick, thank you. coming up, amazon at the center of one of the most consequential union elections in recent history. the vote counting underway at this moment could determine the fate of thousands of workers in alabama. we will have the latest, next. this is bloomberg. ♪

>> what i say to mr. bezos, why when you have so much money, more money then can be spent in million lifetimes, why are you spending millions, trying to defeat and effort on the part of

workers here, who art nothing more -- you want nothing more than decent wages, decent benefits, decent working conditions? [applause] the reason amazon is putting so much energy to try to defeat you, is, they know that if you succeed here, it will spread all over this country. emily: senator bernie sanders speaking with amazon workers friday in a dramatic call to action. the historic union happening as we speak, counting the vote will take days. for more on the story, how it is unfolding and what is at stake, josh adelson, are number government reporter. when will we know and how likely is it the union wins? >> we do not know, among other things, when we will know. it depends in part how long it takes for the two sides to go over who is -- whose eligibility they are contesting.

no one knows exactly what the outcome will be here. we do know on the one hand, amazon is facing this biggest election they have faced in the u.s., and a wave of worker protests and scrutiny they had not been for the last few years. and on the other hand that they went into labor board unionization election at a top nonunion employer in the u.s. is something that is few and far between in recent decades. emily: so, if the union wins, what happens? and does it spread to other states? josh: if the union wins election, amazon will have the opportunity to contest the outcome. if the outcome is finalized we have seen company successfully stalled negotiations, or prevent a contract from being reached, for quite a while. we will see, inevitably, litigation and struggle around these issues for a long time, regardless. but, should the workers when the election, it would be a

tremendous symbolic victory, and escalate the pressure on the company, and escalate the organizing going on around the country. if the union loses, we will continue to see workers taking up struggle and collective action against the company. some, i imagine, it will go back to the labor board in their own workplaces and some will look to other avenues. emily: amazon has been pushing back on this revival of unions aggressively, the amazon news twitter handle pushing back on speculation amazon workers p.m. bottles on the job, claiming there are millions of workers around the world who are completely happy. what you make of that strategy and amazon's response? josh: amazon is clearly choosing to take an aggressive tactic here and is making that the story.

that back will have much less impact on workers actually voting than what amazon has been doing in the workplace, like the mandatory antiunion meetings the company employees have discussed being forced to attend. but this reflects how it is a major national political issue. whatever happens here, the experience and amazon will be exhibit a, and the push by unions and democratic lawmakers, to change the labor law system. emily: josh eidelson, bloomberg news, thank you for joining us. coming up, imagine our next meeting, not at home or the office, but in virtual reality. facebook's andrew bosworth says it is coming fast. my exclusive head of the social network's reality lab, next. as we had to break let's look at bank stock trading. facebook leading gains.

this is bloomberg. ♪

emily: we have breaking headlines out of nissan at the moment. bloomberg just conducted an interview with the company's former top lawyer, who is accusing nissan of surveilling his family, and others. it is a complicated back story but if your member carlos ghosn the ceo of nissan was arrested and jailed for misconduct. there is an ongoing investigation into his behavior, as well as the behavior of other executives. the former top lawyer was charged with doing an investigation into nissan's

handling of the situation. he was then demoted and is now suing the company for wrongful termination. he said he cannot comment on ongoing legislation. but one of the biggest bombshells from the interview, his claim that the company surveilled him and his family. we have a response from nissan here, to the claims saying, nissan is contesting the claims which contains numerous mischaracterized allegations. we are unable to comment further on a matter which is subject to ongoing litigation. we will continue to watch for more developers on that story. meantime, it is than seven years since facebook but oculus for $2 billion and the big bet on virtual reality, but the headset still has not gained a mainstream moment. i caught up with facebook's vice president of reality labs to hear his vision for the oculus, and whether it will be used beyond gaming. >> this could be the next general computer platform,

starting with gamers and already breaking out beyond that. you see fitness as a popular emerging category. virtual reality offers a window into how it could be better, how to people who are not physically able to be together could still have an experience that felt like they were together, like they were having a shared experience of life. that is what the potential for prs and questions the first mainstream headset that can start to deliver on that promise, even if only a little pockets for now. emily: it feels we have been talking about the potential and promise for a long time. i remember that moment with facebook but oculus in 2014. it still has not had that mainstream moment, if you will. when does that happen? this is still a few years off? >> if you look closely, i think it is starting to happen now. the fact that oculus west to in a few months in the market outsold its predecessor and all his predecessors combined, is a

tremendous indicator we are now at the point where we have broken through from the early adopter crowd, to an increasingly mainstream crowd. emily: how many hours a day do you spend insight and oculus headset, if you do not mind me asking? >> we spent a lot of time play testing. and we are starting to do meetings in virtual reality on my team. yesterday probably two and a half hours. not every day but sundays are like that. i get good use of my -- but some days are like that. i get good use out of my battery. emily: out of the pandemic you think you will read the same appetite to socialize in virtual or augmented reality when we can be with each other in person? >> i mean, we had this vision before the pandemic came along. we are separated from people we love all the time, and we are increasingly in a global workforce where people we want to collaborate with are not necessarily going to be next-door. so i think this technology has

more promise than we are giving it credit for, to transform the landscape of global work, and the opportunity people have as it becomes more mainstream and more available. emily: we tried it out this weekend. you have one person in the headset in their own world. rather than in a world with us. i wonder, how do we make a r and b are more social? -- ar and vr more social? >> it is great for being social with peaceful who are physically not with you. it is not great for being social with people -- it is great for being social for people who are not physically with you but not for be who are physically with you. there may be ways for ar to help capture memories or inviting people to join you virtually, so you and everyone physically together can see them and interact with them is that they were really there and they can feel their as well. so i think we were now getting

to glimpses of the future that allows us to bring pleasantness and connectedness together. emily: how do you bring down the cost? now it is not affordable, especially if you want multiple people in a headset. >> bringing the cost down is a central to what we are doing at facebook. we are five years now from the anniversary of the launch of the first oculus headset, the oculus rift. it's initial price plus it had to be attached to a beefy gaming pc to run, the total cost of ownership was a most $2000. today you have the oculus quest to and you can get this for $299 . that is an incredible reduction of price in the short time. emily: you are building a wristband to go with the headset, why a wristband? >> you use a laptop and keyboard and mouse. use your phone via a touchscreen. if you have augmented reality

glasses with a display in and sensors, how do you communicate with it? you will not have a laptop or keyboard or mouse. what can we do? the wrist is an excellent place for us to detect motor signals you sent your head. you do not actually have to move your hand to detect the. over time you could type, manipulate, scroll, without having to move a muscle, just by expressing an intention done your arm and having the machine react to it. we think the wrist is a promising place to explore. that is in a research phase we are making progress. emily: will it also be a want? -- watch? >> status another thing attractive about the rest, we would love to be able -- wrist, we would love to be able to do more on the rest absolutely. emily: through work from home,

and the interesting learning of had their? >> porter was a tremendous success over the pandemic as people were feeling isolated from loved ones, they set out ways to connect with them more richly. portal is a great way to do that with full families where you have more than one person in the frame and you are talking to nana and grandpa and want to read stories to kids and portal does all of that. emily: that said you are playing catch-up to similar devices. are you going to release annual update? two f plans for a voice assistant -- do you have plans for voice assistant like alexa? >> we have voice assistant her name yet, 'hey facebook' so we do have her own assistant but we are not trying to do the same as alexa. these devices also ship with alexa, as you know. what are the things we can

uniquely do around facebook around content sharing and calling people? emily: if ar is the future of work, education, consumer interaction, could we create a new digital divide? what about people who cannot access the technology or for the technology? or do not want the technology? >> that is a huge problem. i absolutely worry about that as it relates to ar and vr. it is one of the things that -- the best thing you can do is popularize the technology, that is what drives prices. down and makes or accessible. smartphones have shown us the way. smartphones are largely accessible. across a broad swath of society at this point. dr. 10-year's -- that took 10 years for it to become the most popular device in the history of the world. but it did make it so you can get an affordable smartphone at this point. so i think it taught concern for us is how can we get the technology out there, make it popular enough to drive the cost down and make it universally

accessible? emily: the head of facebook reality labs andrew bosworth. we will talk with him about his 15 years of the social network about lessons he has learned and why he still believes facebook is making the world a better place despite many who believe the opposite. more that interview next. this is bloomberg. ♪

emily: welcome back to "bloomberg technology.” more now from facebook reality labs vice president andrew bosworth. he just told us how he believes virtual reality will become more accessible and affordable in the near future. his time and facebook began in its infancy in 2006. ,he created that newsfeed and since then the company has seen rapid growth and seen never-ending challenges. i asked him to respond to facebook's harshest critics who believe the social network is

doing far more harm than good, to the world. >> my facebook years have not been monolithic. i love the company. and i love the people at the company. and the work we do inspires me. but i have done so many different things. if you look at what we are doing now in augmented reality and virtual reality it is a far cry , from where i started working on newsfeed and messenger and groups. emily: mark has since the very beginning argued that facebook is making the world a better place. now you have so many people who believe the opposite. have you asked yourself, are we doing as much as we think we are and making the world a better place or is the opposite true? >> yeah, no, i think the criticism that has built up over the last decade, has been really fair and i take that really seriously and introspect on it often. for me, i believe in the fontanelle the good of creating a tool that helps people connect

and give them the power to share and have a voice. but clearly, we didn't spend enough time, not just facebook but as an industry, thinking about negative externalities, the way in which these technologies can be abused. that is one of the great benefits that i have doing the work i'm doing now within facebook. i get to benefit from a global conversation about privacy, which has never been more important or more clearly articulated. a global conversation about what do we think is good about technology and what do we think is not what the problems it creates? and we are doing that years in advance of things like augmented reality glasses being real. think about how different that is from how facebook was when it started 15 years ago, and where the industry was 15 years ago. we never talked about these problems years in advance with the public. so, yes, i do take those

criticisms seriously and i value them and i hope those criticisms coming at this stage of development is what makes this stage of technology innovation different from the last. emily: as you are trying to recreate the virtual world and i'm am sure your think about how do we not create -- re-create facebook's challenges and problems in a headset. what are some of the scenarios you are trying to troubleshoot and map out out before we get , from. >> making sure there is transparency about what data is the data in scouting and why. what data is it gathering, why is it gathering it, where is it stored, can it be stored and how can the consumer control all of that. the more people understand, i believe in giving that power to people to choose for themselves and decide. some problems you never escape no matter how much you plan. content moderation will be a problem forever. it was a problem before the

internet and will be a problem long after i retire. doesn't mean you can't make a lot of progress. in content moderation, how can you build a community where this is less necessary? what kind of standards can you create and where you do have challenges how do you approach , them. the issue we are talking about here, security, privacy, content, these aren't new issues, but will take new forums -- new forms in virtual and augmented reality. unlike in previous iterations we , are trying to get ahead of them well in advance of those things becoming a mainstream concern. emily: what about the unintended consequences that you can't predict? >> i think we can do a better job than we have historically, because we have a historic record of the types of abuses that have happened in digitially-connected spaces. but you are absolutely right. not going to be novel forms of abuse we did not anticipate and we have to be agile and responsive to those things. i think the critique of the

entire industry over the last 10 years that we are pollyannish at the risk of not seeing the the negative that could come of it is fair and accurate. , that is a mistake we are trying to avoid going forward. emily: so, in this new world we have sensors, glasses, gps. this is a whole new set of technological challenges. why should we trust facebook or that facebook will handle these challenges correctly? >> there is no short cut to trust. trust is setting expectations and meeting or exceeding them consistently over time. that is the formula for trust. it takes a long time. that is the work we are doing on the job i have. to put the work out early and have the conversations out in the open and ensure the technology works with a sufficient degree of transparency and control that , people do feel confident they can trust it and that it is valuable enough to engage with it at all.

emily: has the criticism been hard for you and has it been unfair? >> it is hard especially when you agree with it. nobody wants to fail. nobody wants to screw up or miss some negative consequence of their work. but that redoubled my resolve to improve and do better because this technology is important and we as a society will integrate it successfully into how we operate and how we vote and how , we make progress in science and how we and how we make progress in technology communicate. ,so yes it's not easy to have , someone pointing out all of the things you haven't done all the things you would have hoped. -- as well as you would have hoped. or if the system is not working as intended. emily: what are your thoughts on tech addiction in general and creating a generation of children, parents, who are addicted to technology in a way that is unhealthy.

>> i bristle about the use of the term addiction and i realize there is a debate between sociologyists and psychologists on this. having known in my family people who really struggled with addiction. i never met anyone who went homeless because they were looking for a fix of internet. i think that is a bit of a moral panic there. fundamentally my conviction as should have control. the individual, each person should have the ability to set their own limits, understand with the technology is doing. they should be in control of their own decisions and i trust them to do it. i trust myself and i trust my kids and people individuals in , society to be able to do that. emily: since you mentioned children, let's talk about the next generation. you mentioned potential for augmented reality and virtual reality as an educational tool. how will it change our children's eyes?

-- our children's lives. >> in some ways we have not even integrated the difference the internet is made in our children's lives. like how many were raised in school that you can't look up any information anywhere in the world or told you aren't going to have a calculator with you. i absolutely have a calculator with me at all times. so i do think we have not fully integrated the previous generation of technology in terms of how we educate and develop. but i think virtual reality and augmented reality probably have the most promise for kids who today don't have geographic assess to quality education or experiences or economic access. emily: that said, instagram is working on a version for kids 13 and younger. as a parent i am wondering, is this cool, or is this my worst nightmare? >> i think every parent still

has to be a parent. it does not matter if the challenges instagram or books or tv or bicycles. you have to help your kids set limits for themselves and be responsible for the consequences of their choices. my kids are six and three and my daughter thinks swiping will cause dresses to appear at her front door. we are a little ways away from that. for me, so much of my parenting style and an emerging style that is popular is giving people exposure to things that are supervised and safe, so they develop good habits. otherwise what happens when the kids are not exposed to it and they are kept from it and let her get access to it, they do not have the tools to manage their own emotional state and as it relates to the tool, their engagement with the tool. my personal belief as a parent, it's good to be able to be in the supervised environment where

or controlled environments where you can establish good habits. ,emily: take me ahead years. 10 do we all have phones and glasses, too and a wristband? >> 10 years is right on the borderline. >> 15, 20. >> i think in 15 to 20 years you don't have a phone anymore necessarily but may have a device that you carry with you that is in that formfactor that , does multiple jobs. you will have a number of sensors, on the wrist for input and convenient. you'll probably have things like air pods or the equivalent if you want to get more immersed in audio. audio is so important to feeling immersed in a situation. as well as augmented reality glasses. and what is different is our homes and the way they are laid out when you don't have to put tv's in a specific location and can work from anywhere and i think cities will be laid out differently. if virtually reality takes off and fulfills his promise why

, what i find an hour of traffic to get to my office where they , are paying rent to keep it empty all night and i'm paying rent to keep my house empty all day. and find an hour on the way back, if i could get great eye contact and feeling of presence, why would i do that? i could live forever want to live, have those rich experiences and you know who is going to benefit from those two hours i'm not in the car? my kids, face to face, the real connection. so i think vr has the potential to change how we think about cities. and those have to be together in many cases because that is the value of face-to-face communication. if you can get at that virtually that is a big opportunity. ,emily: andrew bosworth vice , president of facebook reality labs. catch more of that interview at bloomberg.com. one year into the pandemic and

looking at the soaring demand for online mental health apps. this is bloomberg. ♪

pres. biden: suicides are up, mental health needs are increasing, violence against women are increasing, a lot of folks are losing hope. >> the serious damage done by lockdowns to people's mental health, to jobs and livelihoods. >> this pandemic is having an impact on mental health for most or all of us. >> i have heard my own ceo state what they said and i agree that is true for me. i now shut down during the day where i need to go for a walk

and this is important for me to do this and take time out of my day to take care of my own health and well-being. emily: it is no secret that the pandemic has taken a toll on businesses, careers and livelihoods. but the focus on getting rid of the virus come up with that most agree or need to be done for our mental health. a recent study by the on-demand mental health company ginger, 96% of ceo's think they are doing enough for employee health. but only 69% of employees agree and meantime, the report says 48% of employees have experienced significant or extreme stress in the last year and the company seeing a 270% increase for coaching support at eight 365% increase in demand for therapy.

joining me to discuss, the ceo of ginger, russell glass in part . thank you for joining us. you did a lot of research. what are the most shocking trends that you have seen? >> thanks for having me. this is the third year we have done this study and one of the trends that is astonishing is how each year, we see more and more of the population that has a need and the pandemic has seen -- accelerated that. this year, we are seeing more than 40% of adults have some sort of depression or anxiety and 60% of those under 25 are presenting with these needs. so, staggering numbers of the population have these needs right now. emily: you just raise a lot of money and are working with blackstone. a billion-dollar evaluation. what do you think the future is, of on-demand mental health. and how does it differ from a traditional therapist or

psychiatrist which many people have access to for years? >> a few thoughts. first, we raise the money this year from blackstone, because we recognized there was this increasing need. we do not have anywhere near the number of providers to take care of all these people. and, as we looked at the cost to society. the estimates are cost united states alone about a trillion dollars per year to manage the mental health issues we have. we recognize this may be the single largest societal issue of our time. we wanted to raise money to continue to invest in the solutions needed to solve this problem. and ginger's focus is how do we take technology, research and development to create new care models and payment models, and how do we scale the amount of care we can deliver to solve

these problems for our society? emily: so, as we go into some sort of new normal and we are in this messy middle, what are your concerns about the disconnect between employers and employees? between governments, schools, and students? >> there is some good news. if you look at the results, what we are seeing is, this period has increased the understanding, so that huge numbers, like 92% of ceos are saying their companies have increased focus on mental health over the last year. we are seeing 94% of ceos think they receive some mental health support themselves in this time. but as you said early in the segment, there is still a gap between the perception of what companies are delivering and what employees are feeling on the ground. so i worry about that. i worry that companies think

they are doing enough, but then they are not actually, because employees aren't seeing it. yet. i think it is going to take companies focus not only on providing solutions but , providing communications, talking to their employees and making sure employees know that it is ok to reach out and get help, helping to reduce that stigma that still seems to exist. emily: all right, also glass, ceo of ginger. thank you for joining us to talk about the important topic and work you are doing. stella had, the u.s. he signs the fourth wave of covid infections is underway, with cases and deaths surging while testing levels grow. we will speak with the founder and ceo about home testing kits and white wide -- why broad scale testing is so important. and it tips and focus with stocks down 1.5%. keep your eye on the space.

supply shortages appear to be worsening, not good news. this is bloomberg. ♪

>> i'm going to lose the script and reflect on the recurring feeling i have of impending doom. we have so much to look forward to, so much promise and potential of where we are, and so much reason for hope. but right now i'm scared. emily: that was the head of cdc, fighting back tears, warning of impending doom as cases, hospitalizations and deaths begin to rise again. the seven day average or suspected cases are up in the united states as cases declined in recent months as states

shifted focus to vaccines. the founder and ceo of a provider of home testing kits which made two acquisitions valued at $3 billion. julio thank you for joint -- julia, thank you for joining us. what is your reaction to the head of the cdc? >> thank you for having me. yes, this is a critical moment for the u.s. to combine the mass roll out of vaccinations with continued testing, and behaviors we have adopted over the last year. we have so much ahead. we have the promise of a new dawn, but being able to stay safe during this vaccine acceleration is of the utmost importance. and testing has stagnated because people aren't going to get testing as often or as frequently. yet the testing modalities have improved. most people can get tested within a day or a couple of days and the fda has rapidly approved new formats of testing as well. so another voice of caution to , say if we stay the course for

another few months, we have a bright future ahead. emily: talk about the demand you have seen over the last year. you were one of the first companies approved to do home testing kits. many people took advantage of that and now it sounds like behaviors are changing. , >> yeah. absolutely. we were in a position to innovate quickly and serve at a national scale and many companies have been able to follow suit with a quick work of f da and wrapping up testing after the initial slowness. however we are seeing a lot of employer demand and a lot of university demand and state demand, but individuals aren't going to get tested as often because there is pandemic fatigue which is understandable. but what we are seeing across the board and you hear it from testing rates, is the testing frequency declining.

and as long as people are quarantining and exhibiting those behaviors, maybe that is ok. but as you can see from that spy cannot last seven days and cases that is not what is happening , across the board. even with new things like doordash and timber and at-home testing going mainstream, it is challenging that's not the right combination of vaccines and testing to contain the pandemic. emily: talk about this future of the category at-home testing and telehealth. you have just done two acquisitions. what does this look like post-pandemic? we have a minute left. >> absolutely. everly well has been in home testing for five years. we acquired two companies. one for at-home testing and one that supports pears and medicare

plans and we created $300 billion in telehealth space and see a bright future in supporting our 400 clients, major labs and health plans moving forward. health care, including diagnostics, is that a watershed moment post-pandemic. we are leading the way in supporting additional care. i think there a bright future ahead is patient's demand letter and people demand better services coming out of the pandemic that is the silver , lining for sure. emily: thank you everlywell founder julia cheek, for reminding us how important it is to test at this critical time. especially at this critical time. and that does it for this edition of ""bloomberg technology."“ tomorrow i speak with the ceo of arm, a global chipmaker, about the continuing supply shortage which continues to have devastating impacts. stay tuned for ""bloomberg daybreak" australia. coming up next. i'm emily chang. this is bloomberg. ♪

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yousef: this is daybreak bloomberg middle east. manus: rapid progress in the u.s. with the vaccine rollout against the risk of further drama from the recent block sales. yousef: movement resumes on the suez canal after the barge