get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. emily: i'm emily chang in san francisco, and this is "bloomberg technology." coming, tech shares leading u.s. stocks to all-time highs on this last day of the quarter. and course era charting its path to the public market. we talk to the ceo on their big ipo day. plus, the future of work.

carmen krishna says his company may get rid of half of its real estate with 80% of its global workforce going remote. and the ceo of ripple joins me, currently under sec scrutiny. what he has to say about that, currency exchanges, and the future of ripple. all that in a moment, but first, markets and movers. pretty: a fabulous a day for technology stocks today. check out the board behind me. you see the s&p 500 in the green, lifted by this tech stocks and even the nasdaq 100 had a good day today, even though you saw those yields rising. let me show you how it did on a year-to-date basis. we know the quarter has ended, but the nasdaq 100 is not really going anywhere, kind of making a pretty sideways move. this is important because they actually lagged on a sector basis, so this really tells you where we are headed. let me show you some of the movers on a year-to-date basis. the top two and the worst two,

the top two young applied materials, so that ship demand coming back to the forefront. we know semiconductors have been rallying. we have also seen walgreens and pharmacies coming back as more people get vaccinations. to the downside, some 2020 favorite -- peloton underperforming. and some of those chinese e-commerce names not doing so great, either. that is the macro picture. for the micro picture, it looks good. ed: i'm going to kick off with microsoft, one of the biggest points movers. contract with the u.s. army, which we knew about, is worth $22 billion over 10 years. when that contract was awarded in 2018, it was more like $400 million, so that has changed significantly. i love when a chart tells a story because marcus off was higher -- microsoft was higher wednesday, and then there it goes. there is a story we cannot get away from, and that is joe

biden's 2.20 $5 trillion infrastructure plan, and a big focus of that is climate. look at raymond james. about $630 billion of the $2.15 trillion is climate related. no wonder we saw tesla up 5%. end of the quarter, year-to-date, tesla is one of the laggards, but it has clawed back some of the losses in a single day, and some other movers in the ev space. a big part of the plan is 500,000 public charging stations throughout the u.s., so no wonder. look at the performance on the day by some of the biggest names of publicly traded charging companies. there is a broader energy story today. joe biden wanting to double down on renewable sources of energy, but also energy storage. we bring up the board one more time, you can see the love was felt throughout those publicly traded providers of renewable energy and alternative energy systems. one final area i want to look at

is $100 billion committed to spending on rural broadband, basically, giving people access to internet. this is something you have discussed a lot on the show. in society, and lot of the disparity is caused by a lack of training, a lack of access to internet. a lot of telecom dividers not much higher. t-mobile higher by .5%. there is a 5g angle to this as well. all eyes on joe biden and how he will spend that big $2.25 trillion infrastructure plan. emily: we are going to talk about that now. thanks so much. president biden has outlined his $2.25 trillion infrastructure plan for the united states, setting the stage for a drawnout battle over his second big economic program after his pandemic relief package's relatively smooth sales through congress. let's get the latest from laura

davison who has been following this. talk about the benefits that the tech industry and silicon valley might see as a result of this new package. laura: biden has taken a broad definition of infrastructure. a lot of investment in digital infrastructure. looking at broadband upgrades for people around the country. a lot of money going to research . a lot of training and money as well to address gender parity and racial inequalities in the tech fields as well as pots of money going for certain things, electric vehicles as well as semiconductors. a lot of stuff to love for technology companies, but on the other hand, they are also facing a lot of tax increases as well. emily: talk to us about the taxes and how with the minimum taxes on domestic and foreign profit impact the tech industry? laura: these are two things that really, really hurt a lot of big

tech companies, specifically tech companies have been very successful using offshore structures to be able to reduce their tax bills significantly and pay well below the u.s. rate or some cases, no taxes at all on profits they earned the purse few weeks. what biden would do is put a 21% rate on all those profits, so they would be paying significantly more. there's also a provision looking at incomes in the u.s., specifically for, you know, the difference between what i call tax and book income, so the difference between what they report on the financial statement and what they report to the irs. a lot of tech companies have been profitable have not had to pay taxes because they have had so many tax breaks and reductions in credit available that they could use. basically, biden is saying you would not be able to do that anymore. you would at least have to pay 15%.

emily: how does the program move forward? do you expect more opposition to this then we saw for the stimulus package? >> yes, there will certainly be more opposition to this move from congress. there's not quite the sense of urgency that there was for the coronavirus relief bill, plus there is a lot of things in here -- a lot of tax increases and a lot of things that are politically tricky going forward. democrats have very small margins. in the house, only four democrats can vote against it without blocking the bill, so this will be a negotiation moving forward. this is really an opening bid. expect negotiations happening over the next few months. even some democrats have said, hey, joe biden, great, but we are going to come up with our own plan, so there will be a lot of pleading is -- if this moves

forward to make sure that not only did democrats get what they want but also that they have the votes to get this through. emily: thanks for that update. coming up, with vaccine rollouts ramping up globally and many companies reopening their offices, ibm's ceo is working on how to bring 300 45,000 employees back to work -- 345,000 employees back to work around the world. ound the world.

emily: ibm's ceo took the top job on april 6, 2020, three weeks into a global lockdown, keeping 340 5000 employees in more than 100 45 countries safe and productive was a massive undertaking. now he's faced with huge task of bringing all those employees back in some form or another. in an in-depth interview from bloomberg's future of work summit, i asked how many employees are back so far and how much remote work will continue to be part of the future of ibm. >> maybe 80% of people are going to come back to work in a hybrid way, but it does not mean sometimes remote and sometimes

in the office. i mean 80% will spend at least three days a week -- maybe not all it to 10 hours, but at least some fraction of those three days in the office because of how do you create team? how do you do creative work? to have all the perfect answers, are we going to leave it up to individuals, will it be more orchestrated? those are the questions we have yet to answer, so i want to be clear on that, but i expect 80% will spend some time in the office for with each other somehow somewhere. 20% being remote forever is possible, but then i worry about the world you mention. i worry about what their career trajectory will be. if they want to become a people manager or get increasing responsibilities or want to build a culture with their team, how will you do that remotely? i think we can maybe figure it out, but we got to go work on it. on the other hand, some of these roles i can imagine in customer service, probably fine to be

home, but they want to do something else, now what do you do? i think probably the first half, they will come in, but that means the nature of the workplace will change. the workplace will not be a set of cubicles or close offices where people come in and get their work done. that they will be doing at home. the workplace will be a place where you meet and build your culture together. that means the physical nature of the workplace has got to change, and likely the model of total real estate you have might also change. emily: going into the pandemic, you had 70 million square feet of office space and more than 1000 offices. are you getting rid of some of that? have you already? >> i would imagine that we will get rid of tens of millions. are we going to go toward zero? absolutely not. will we have over half of what we had? most likely, but as we consolidate and you want to bring people together, there is an opportunity to make the shift from, as i said, cubicles to

more meeting spaces, but also, people will only be there half the time, maybe the world two/3 of the time. the total amount you need will change, and we are lucky maybe. a lot of our office space is leased, not necessarily owned. although where i am, i can tell you, we own not lease the building. it is a mixture, but i can imagine there will be substantial change, but it will not happen overnight. emily: can innovation keep up in a hybrid environment? >> i will give you a great example. my research team works on some of the hardest problems around quantum computing, around physical semiconductors, around chemistry. they have been coming in through the pandemic because they found they could not get their work done remotely. they were excited to come. they were following all the protocols on social distancing,

on testing, on signing everything as you enter and leave the building, and being careful at home. our hope community has had maybe one incident in the last 12 months -- our whole community. that is remarkable. i believe the serendipity of being able to walk the halls, having those conversations. by the way, my r&d community is hankering to be back together. i see that those communities are going to be back together sooner rather than later, and full credit to all the vaccine makers and the rollout -- i think the rollout is more optimistic than our worst fears. of course, we would all desire it to go even faster globally, but at least in some countries, i can see a pretty good pickup, and i'm hoping that by late summer, we will be in a state where a lot more can be back together.

emily: where are you now? how many are back? how many are still remote? i understand there are plenty of people who never went home at all -- people testing the mainframes on the quantum computers. >> yes, of 350,000 people globally, about 5% never went home. the people doing some of the physical hard r&d, the people on the mainframe floor, but that is about 8000 people who continuously stayed. today, about 15% are in the office. it varies a lot by geography, but you can say around 40,000 to 50,000 come in to work some, but we look at australia, we look at china, and a lot of people are coming back to work. we look at singapore, maybe in the middle. i come to western europe, almost nobody is in the office. i come to the u.s., maybe 10% are in the office, but it varies. where i am, you could easily get

20% of people into the building in a completely safe way. in new york city, our buildings are at 1% or 2%. finally, we simply open the buildings and say those who feel safe can choose to come in. we are not yet making hard and fast rules. emily: ibm ceo arvind krishna. you can catch the full interview on bloomberg.com. finally, coursera joins the public markets. it's ceo joins us to talk about the future of education technology. pfizer announcing its vaccine gives 100% protection in children ages 12 to 15. great news. this as france announces another four-week national lockdown to

begin saturday. new restrictions there and in italy as cases of covid-19 surge. keep watching. this is bloomberg. ♪

emily: online education provider coursera made its trading debut on the new york stock exchange with shares trading 36.7% above its opening price. the company now has a market value of $4.3 billion. the ceo joins us now to discuss the largest boom amidst the pandemic and if demand keeps up. first of all, give us your reaction now that trading has closed for the day. got a nice-sized pop. >> yeah, i've been a ceo for

almost 25 years, and the last company i worked with for 18 years was financial engines. we went public in 2010. it was a different time. obviously, a non-pandemic more traditional road, but in both cases, it is really a step in a longer journey. the company is nine years old. we have so much work to do. could not ask for a better day than today, but still, there is so much more ahead of us. emily: let's talk about what lies ahead. obviously, online education has been booming through the pandemic. of course, you thought this was a revolution coming all along, but what happens post-pandemic to online education when kids are back in school and everyone is vaccinated? >> i think it is useful to go back to the trends that existed prior to the pandemic. clearly, when the company was founded by two stanford computer scientists, there was no notion that a pandemic was coming, but there was a notion that in a

changing world, greater access to online learning and high-quality online learning would be increasingly important. covid has basically accelerated existing trends. it has forced almost every student to learn online. it has forced almost every teacher to teach online. it has forced all of us to work online, so there will be a new normal. it will not be exactly like what we experienced in 2020, but it will also not be like what the world was prior to the pandemic, and i think it will be more of a blend of in the office and remote work and on-campus and online learning. emily: that said, you have more online options in addition to coursera now, and many institution schools have built this into the way they offer education. what about that experience? what will set you apart in the future? >> i think what set us apart at the beginning is that what started at stanford with two

professors immediately became a community of universities. it was a community of leading universities, and what we have seen about is and his models is platforms that bring together communities usually do a better job delivering value to consumers or learners than any single company can do. even if you are a commercial, dedicated company. we believe in the value of this community of universities in reaching a global population, so it is very difficult for one company to create all the value and to create all the distribution. it is much easier for a community on a platform to have more global reach, broader selection, and often more affordable prices. emily: you're still not profitable, and last year, net losses rose.

what is your plan to get to profitability? >> we are really focused on growth, obviously. in the next 10 years, about 1.3 billion people will become working age around the world. especially in rising economies like china and india and latin america and probably to follow will be africa. rising middle classes generally need more education, and they are looking for things like masters degrees, so there's a lot of opportunity and need ahead of us. these types of moves like raising money and becoming a public company we think will position us better to have the resources to grow. we will be investing those resources, and as we think about the investments you can look at in terms of dollars, but you can also look at it in terms of profitability margins, you know, we continue to get closer to profitability, but we are most focused on growth right now. emily: where does most of the growth come from in the future? academic institutions? enterprise? >> on the supply side, there is who is creating the content and

credentials and what kinds of content and credentials will be most in demand. we have universities creating them. we have industry partners creating courses and degrees. we believe college degrees will remain a very attractive way for people to learn and a credential to show an employer that you are employable, and it's not the traditional degree. we believe that degrees are becoming, when they go digital, more flexible, more affordable, more job-relevant. we are very bullish on college degrees, but in addition to that, professional certificates for people who do not have a college degree to get an entry-level job, we see a lot of demand in that field as well, especially for people switching fields -- emily: wait. we just heard from the ceo of ibm earlier who said he thinks 80% of his workforce will be hybrid going forward. do you have a number like that for students? >> we don't have a number, but i

think it is a useful statement. we believe that our employees are not all going back to the office either. in the same way that going back to work will never be the same as it was before the pandemic, the way we get educated won't either. we see a hybrid world where certain traditional students will go back to campus but a lot of people are working and have families and our international and cannot move to campus. there will be a much broader set of opportunity when degrees and learning in general goes online. emily: all right, we'll keep watching you. now that you're out there on the public market. thank you so much for joining us. coming up, we are speaking with ripple ceo brad garlinghouse. current regulations about crypto and what you can expect in changes, prices, and, of course, bitcoin. that's next. this is bloomberg. ♪

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emily: welcome back to "bloomberg technology." deliveroo, the amazon-backed food delivery start up, had a sour opening in london today. sunk 31% in its first few minutes of trading post ipo. let's get the story from bloomberg's ed ludlow. what went wrong? ed: this is a story not about the investors that did back it but the investors that did not. a lot of investors were concerned with ongoing issues about couriers and how they are being treated. if you are a tech founder of a

start up that is going public, this is a chart you do not want to look at. look at the precipitous decline at the beginning of the trading day in london. it stayed that way for the rest of the day. there is a bigger story here, too. a lot of hopes for the future, post-brexit london, attracting big tech companies on the london stock exchange -- it has not really happened that way. this is the growth generated through ipo's so far this year. london is negligible by comparison to what we have seen in the united states. 10 billion versus 146 billion. there was so much hope around deliveroo, and it just did not come to fruition. there are specific concerns investors had. there was also a question around timing. this in the face of global peers that are already publicly traded -- uber, just eat -- none of them are doing very well. the story this year is not about stay-at-home stocks. we are all at home getting takeout. we did that at the beginning of covid. now it is about getting back.

as the vaccine ramps up, what will we be spending money on outside the home? one of the things you'll see is the diversified business model uber has. rideshare is coming back as people get more confident about going outdoors. other companies just do food delivery, and that is not something that is suddenly set to take off again like it did exactly one year ago, and that is part of the problem for deliveroo. emily: interesting. we will continue to follow. perhaps they just missed their window. thank you so much. one area back in the spotlight -- still in the spotlight, crypto, bitcoin back on a tear today, hovering just around $50,000 for the first time in weeks, but with popularity comes scrutiny as crypto begins to make it more mainstream with institutional investors. there are questions around where u.s. regulation stands. back in december, we saw the sec take action against ripple, alleging sales of their token

fell under unregistered sales of a security. ripple has argued the coin is not a security but rather an asset. ripple's ceo has commented on regulations around crypto in a tweet saying, "our defense begins today. innovation is on trial, and we stand shoulder to shoulder with our partners and the community to defend it. together with appropriate regulatory oversight, we can modernize outdated laws that clearly are not working to protect consumers and ensure orderly markets." ripple ceo brad garlinghouse with me now. give us an update on the situation with the sec. where do things stand? obviously, you intend to fight this vigorously. >> thanks for having me. indeed, we do intend to fight it vigorously. from our point of view, what is happening is not just against ripple but really against the crypto industry at large. as we have talked about, the u.s. has been a laggard in providing regulatory clarity so that investors know how to and rest.

-- so investors know how to best invest and entrepreneurs can build and hire people. ironically, a lot of people around the world have had regulatory clarity. just here in the u.s., we kind of lagged that. the u.k., japan, switzerland all have clear, regulatory framework. on the topic of the loss of the lawsuit the sec has brought against ripple, the only country on the planet that has outdated security laws is the united states in bringing that lawsuit. emily: is there a chance of a settlement, and what happens if you lose? >> i'm hopeful that as a new administration comes in to the sec, there's an option to revisit those conversations. as you may know and may recall, jay clayton at the chair of the sec, the day before he left office, he brought this lawsuit against ripple and against me personally.

we don't think that made a lot of sense, given that srp had been trading in the marketplace for nearly eight years. nearly $1 trillion of x rp has traded out there. to do that the day before he leaves his position, right before christmas i think was misguided. the former head of the sec said publicly she views this as a dead wrong -- he was dead wrong on this decision. a new chair of the sec is likely to be confirmed, and there's an opportunity to have a conversation with that new leadership as he brings his team in on what can be done for ripple and really, the whole crypto industry to provide clarity and allow people to participate in the markets and build around these technologies. emily: meantime, we are waiting for a coin-based direct listing, which continues to be postponed.

our sources tell us that's because of a backup at the sec, but what are you watching for in terms of if that is a success or some sort of validation that the crypto market needs? >> i think it's very clear the crypto markets at large have become very mainstream, and there's more and more institutional interest. my guess is about a year ago, the market overall might have been a few hundred billion dollars, and now it is just below $2 trillion. that only happened with lots of institutional money entering that market. coinbase has built an amazing business here in the united states. i suspect that will be a very successful listing. there's a lot of interest in this space and a lot of ways to invest in this space, and coinbase has clearly been a leader, so i'm excited to see them get out and become its own company. emily: meantime, i spoke with the ceo of kraken. smaller crypto exchange, much smaller than coinbase, but take

a listen to what he had to say about price. >> i think i said bitcoin is going to infinity, and that his car -- that is hard to comprehend. i'm measuring in terms of dollars, and it might be easier to understand if we measured in terms of teslas, like one bitcoin for one model three. by the end of the year, i think it will be one bitcoin per lambo, and probably by the end of next year, one bitcoin per bugatti. i think that to me and to the crypto community, those kinds of assets make it easier to measure against because you never know where the dollar is going to be. emily: one bitcoin per lambo. one bitcoin per bugatti. where do you think it is going? >> i think it's clear crypto solves a problem for people who want asset exposure. as jesse said, there is a lot of inflationary dynamics from major currencies into money supply here in the united states, grew about 20% year on year, but as

-- 25% urine year, -- 25% year on year, but as bill gates was quoted recently saying, bitcoin as a payment mechanism is among the least efficient that man has ever created because as the price of bitcoin goes up, the energy consumption and carbon footprint of it, that mining that happens, that continues to scale aggressively also, and i think we cannot lose sight of the fact that one bitcoin transaction is the equivalent of about 75 gallons of gasoline being burned. emily: i'm glad you said that because bill gates said that on this show, said that he was not a fan of bitcoin specifically because of all the energy it uses. what is the solution? >> i am a fan of bitcoin, i just think we need to be clear what problem it is solving. as a store of value, i think it is exceptional. both bitcoin and ethereum use

proof of work to validate transactions, and i think they have been very forward-looking in realizing power consumption is a real problem and have been migrating to a different and much more efficient technology. at ripple, we use the x rp ledger because it is extremely fast and is about 100,000 times more energy-efficient than bitcoin. it works really well for payments, and the reason why we have had so much success gaining customers and scaling our business even in the face of this sec lawsuit has been because it works. it solves real problems, scales well, and the competencies are -- the cost efficiencies are very real. emily: always good to have you on the show. thanks for stopping by. we will be watching how that plays out with the sec. coming up, hate crimes rising against asian americans, sparking movements across the country. we take a look at how tech executives are joining the fight next.

this is bloomberg. ♪

emily: a shooting at three different spas in the atlanta area this month left eight dead, another injured. six of the dead -- workers of asian descent, sparking a nationwide debate on anti-asian american sentiment. in a report out from the center for patent -- center on hate and extremism, hate crimes against asian americans have risen since 2019. >> asian american women suffered twice as many incidents of harassment and violence as asian

american men. we are learning again what we have always known -- words have consequences. emily: a new movement consisting of tech executives across the country raising $10 million by the end of the year to fight anti-asian american sentiment. joining me now, one of the founders of that movement. you wrote an original letter trying to rally the community and took out a full page "the wall street journal." what are you trying to achieve? >> we are trying to bring awareness to the fact that those who have not been aware of what is going on -- asian americans were aware, but everyone else, they were not aware until atlanta that this was an issue.

even in new york, we saw a few days ago a filipina woman kicked in the head multiple times and no one coming to her rescue. it just constantly happens every single day. emily: until this point, many asians i have spoken to feel they cannot speak out on race. certainly, they face racism. they face unique sets of challenges, but many of them do not believe that they have it as hard as black americans or the latinx community, which leaves them feeling like they cannot complain. is that a sentiment that you hear as well? >> yes, we work raised in a culture where we were told to keep our heads down, work hard, but at the same time, we share our stories of pain, especially asian women who have been harassed in the workplace or on the street, and we did not feel like we deserved to share our story.

at the same time, our culture of silence is over. we are a new generation. we are starting to stand up, and i think part of the effort of putting this letter out there to the public is so people can realize, "hey, i'm not alone. it's ok for me to speak out." i think it is more about motivating those to stand with us and stand up for themselves because we felt like we were not allowed to speak up before, but we are building momentum and finding our voice like never before. emily: then there is the bamboo ceiling. if you look at the silicon valley community, asians are well represented, but they are totally underrepresented in leadership roles. talk to me about the challenges that asians face in tech in particular. >> 30% or more of tech companies are made up of asians, but when you look at the executive ranks, they are far below any other race.

the whole "we are not aggressive enough" or "are not loud enough," these are things that are not acceptable. part of not being able to speak out is we cannot say anything, but now we realize we want to be part of that diversity conversation. we want to be recognized and included. emily: talk to us about what else you are doing to get more tech executives on board and whom you are focusing on. >> first of all, putting this list together, i did not expect it to grow as much as it has. over 1000 executives and leaders across countries and the world are supporting this, and i think for the first time, we are seeing this assembly of asian leaders that most people did not realize were the founders and leaders of these companies. asian american founders built the products we survived the

pandemic on from doordash and zoom to peloton. the goal is by creating this coalition across all industries -- we have partners at law firms, hedge funds, all sorts of industries that we are leaders in -- we want to mobilize and motivate all these people to stand up and rise up and also to give to causes that they need to give to because right now, if we don't stand up now, we don't know when we will do this. emily: do you have a suspicion on the source of the recent hate? is it president trump calling the pandemic the china virus, or is it something more deep-seated? >> i think that rhetoric does

not help, but also because of the language and rhetoric that comes out on leadership, people needed a scapegoat, and they chose us. i have been to china once for two weeks, but i am not from china. i'm as american as the people next to me or the people attacking other asian americans. for me, i think it was very much a scapegoat, and people have been frustrated and trapped, and they want to get out and want someone to point a finger at. i think that unfortunately turned to us. with china rising and the economy of china rising, hopefully it won't get worse, but it may get worse. unless we take a stand. emily: thank you for throwing your voice and your weight

behind this. appreciate you, all the hard work you are doing to raise awareness about what is happening out there. all right, still ahead, connected fitness firm tonal reaping the rewards of booming demand for at-home workouts. we speak to the ceo in an exclusive interview next about his funding round and how digital fitness looks post-covid next. ♪

>> for years and years and years, no one believed in us, and now you have apple saying this is an important enough category that we are investing in streaming digital fitness as well, and on and on, you are seeing some of the big players from fitness from yesteryear trying to create connected out of and other newcomers, but it really is everyone in the industry is seeing that the

future of fitness is at home. emily: peloton's ceo confident that at-home fitness is here to stay. just as peloton has been riding the wave of homework out to do to lockdown's jim's being close, -- riding the wave of home workouts due to lockdowns and gyms being closed, tonal, the creator of a digital-link machine also saw sales grow last , year and just raised $250 million in a new round of funding, bringing valuation to $1.6 billion. the founder and creator joins us now. i'm sure you will double down on some of what john foley was saying, but why is at-home fitness here to stay? even when we go back to work and we can get out of the house more often, will we still be working out at home? >> the trend already started years before covid hit. it is more convenient. you can get a better workout in less time.

that is really what is driving it. gyms are crowded, and if you look at the statistics, half of gym members members used to pay and not even go. now you have a piece of equipment you can use that gives you real results. in tonal's case, the equivalent of a full trainer so you can work out 3, 4, 5 times a weekend achieve the results you want, just like being with a personal trainer, just on your terms. emily: peloton is part of the competition and are working on other pieces of equipment. john foley said that in his last interview with us. what do you think will continue to set you apart from the competition? >> we are further ahead in terms of strength training than any of our competition. we invented a digital weight training system that took us over three and a half years. we have filed over 40 patents, and that is something others will not be able to replicate very easily, and when we do, we do have those patent protections. on top of that, we are the leaders in intelligent fitness as well. what we do is highly

personalized, highly ai-driven, highly data-driven. that allows you to give people a better workout in a much shorter period of time. a little different from the group-based approach that others in the sector take. emily: what additional machines or equipment are you planning in addition to what you have currently? >> we are focused on strength training. we believe if you hire a personal trainer and ask what is the one thing i should do for the rest of my life, they would tell you strength training. it is not really a question of equipment at that point. it is a question of how those routines should change throughout the course of your life. you certainly should not be doing the same thing in your 40, 50, 60 years old as you did when you were 20, 30. the point is to create an array of content personalized to everyone's journey, their goals, and where they are in their life. strength training is something proving to have longevity and delivering results for

everything from weight loss to eliminating diabetes. the personal training functionality we have come personal training, intelligence, ai really sets us apart from everyone else, and it's the only piece of equipment you need. emily: i'm sure a lot of people would love to have it, but it's $3000. how do you frame the cost? >> financing programs are key. with a 36-month financing program, it works out to $146 a month, including this instruction for the service, the hardware, installation. when you compare that on a household basis, it really becomes affordable quite quickly. people spend that much money on coffee. they spend that much money on cable. if you care about the health and fitness of your family, that's actually a pretty affordable price point with those financing programs. i think the industry is increasingly going to head in that direction of looking at

things from a monthly cost and not necessarily an upfront cost. emily: you've got a long list of investors who are also famous athletes. talk to us about plans to spend on content in the future. >> i think the common thread amongst all the professional athletes we have is all of them used the product, fell in love with her, and wanted to invest. we are certainly looking at a lot of those collaborations. joining this round, for instance, was maria sharapova, as both an investor and advisor to the business, and we will certainly be working on collaborations with her in the near term. we have a few others in the works as well, so we really think that can help people achieve goals that are more specific. emily: thank you so much for joining us. great to have you on the show. that does it or this edition of "bloomberg technology." i'm emily chang in san francisco.

we've got "bloomberg daybreak australia" coming up next. ♪

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