and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) >> i am in for emily chang, where she is safe in san francisco. this is bloomberg technology. it is the public debut of the year. coinbase going public via a direct listing shunning the ipo market in the trend we stock market as it eyes that $100 billion valuation. and while it closed in its debut

at 328 plus 28, that's 14% below the opening price. but it was the biggest direct listing ever. it's a win for the nasdaq, the exchange where the company debuted so much more than that. investors, analysts, crypto enthusiasts think it is a big win for not only the democratization of finance, but a big win for bitcoin and other crypto assets. analysts repeatedly said that a publicly listed coinbase as a way to get corporations to invest and allocate to trip to assets. if you saw them trade at record levels today. let's get right to the story of the day. my fellow lady and burgundy. we talked about the price being a little bit below where it open. do you still consider this success? >> not only was the price lower than when it was opened today, after we saw the price shoot past 400 share, it dropped down

to lower than 343. 340 three was where it was trading privately and private markets in the first quarter of this year. so -- taylor: do you consider it a success when it's trading in the dow market? we knew crypto would be volatile, but they had a huge headwind and everyone was looking for that hundred billiard out -- hundred billion dollars valuation. they fell in at 85 billion or so. it's still a massive company, bigger than most exchanges out there. the question is where does it go from there. taylor: who are we thinking are some of the biggest winners from that? >> you have to look at the people who invested early on and were on the wild rides. that's at number one, they really doubled down on the company while others will sell. you also had them who is becoming a popular wall street

name as one of the hottest younger hedge funds out there, but also huge and private markets, investing more and more and start. you have paradigm and rivet capital, which is something to watch in fintech, given they have a relationship with walmart as well. everybody that was in this stock are people you want to watch in future stocks. everybody i'm talking to, taylor, is already talking about robinhood. which will be the next big syntax listing. taylor: we cannot get away from that. we have been talking with early investors all day long. are you hearing that the company would stay invested in 5, 10, years ago is the same coinbase that we see today, or is this a whole new company with new ambitions? sonali: it's much bigger of a company that was before. people are throwing around all sorts of comparisons.

will it become the next big meal bank? how do you compare its customers from everyone to e*trade. in terms of how much people are trading on it. and then how do you account for the growth of its company business with more institutional options. there's also the google and facebook comparisons. what moment in history are we in? taylor: we will continue to be following the story. thank you sonali bostick, who has been working since the wee hours of the morning. bringing this story to you. let's get more on coinbase's direct listing today. we are joined by katie huan. the general partner and board member at coinbase. katie is of course the perfect person to speak with today. what to did day -- what did today mean for you? katie: it was a historic moment. not only for coinbase but for crypto overall and crypto.

this company has been around for nine years and it has decades more ahead of it. we are just very excited about the long-term prospects of the company. taylor: is the company, nine years ago, the company that you envisioned today? has this company changed? how do you see this company? katie: you have to understand the founder, brian armstrong, is just so visionary. i think he has always been this vision. one of the things that is so exciting is about what is next for this company. and if you think about what is next, already we have 56 million users on the platform, with really very little spend in terms of pay marketing. but in classic coinbase fashion, they are always dreaming bigger and looking forward. and they are looking at what is going to happen with the next set of users. when they talk about the next set of users coming onto the platform they are looking at the 3.5 billion users worldwide with

a smartphone who are not currently using crypto. in classic brian armstrong fashion, he is not thinking about the next 10 million users or even the next 100 million users. how do we get the next billion users on this platform? so it is very exciting. taylor: how are you thinking about that? you have an incredible background focused on cybersecurity and cybercrime. in some of the early use cases that is where we thought bitcoin would be. it is so much more than that. how do you translate those beginnings into a bigger use case? katie: look, the narrative started out, as you mentioned i was a former federal prosecutor, founded the u.s. government's first crypto task force when i was at the department of justice. and did some of the big early money laundering cases at the justice department. by the way come also with fiat, not just crypto. i was asked in 2012 to investigate bitcoin.

and i quickly realized that what have been a complete fool's errand. it would not have been possible but also not desirable because there are just so many socially beneficial aspects, not just to bitcoin, but also to crypto. we are just excited about what we see as an entirely new crypto economy. it is about much more than just one asset. of course we are very excited about going as a category and asset class but we are excited about many other assets. and apart from assets, we are excited about what we see as a new computing platform, much like the iphone was for mobile. taylor: interesting. can you expand on that a little? of course you are a board member. you have keen insight into the direction of where you would like to take this company. what does that sort of ecosystem look like to you? katie: let me give you a couple of examples. we talk about decentralized finance, but another category we

are very excited about, and i think coinbase is incredibly well positioned to capitalize on, given that it's a position first -- given it is a crypto-first company, is what we call nft's. they are basically digital tokens. they live on top of a blockchain but they are digital goods. they could be anything from digital art, collectibles. one of the ones taking off in a mainstream way now is nba top shots. some of your viewers might have heard of that. for disclosure, we are investors in that. with this category of nft's, it's kind of generational. i think some in certain generations have a hard time grasping why would i pay for anything that i cannot hold in my hand. but that is changing. the next generation, they are already there. they are very used to living large portions of their lives online. they are very comfortable with spending money on digital goods.

in fact, apple makes billions every year on digital content, on in-app purchases. you think of kids who are buying fortnite skins or whatever on games. but now you think for the first time when you can program digital scarcity with cryptosystems, now you have a truly unique asset that you actually own, but you don't have platform lock-in for. so we're very excited for nft's. and as i mentioned, coinbase is really poised because it's a crypto first company. i think coinbase is the portal to the crypto economy. i think people have no idea how big the crypto economy is. taylor: interesting. on that note i am curious if you see future regulation helpful or hurtful for a coin-based crypto. katie: i think one of the thing that coinbase smartly did early days was they really invested in regulatory, and compliance, and

legal, and safety and security. again, very early. you mentioned the coinbase of nine years ago. it was a small team and it cost millions of dollars to get all those licenses. not just from 50 states but from the countless jurisdictions where they have customers. because of course coinbase is a global company. so that was a costly decision. and they did that and i think that set them up incredibly well. coinbase has always leaned in to the regulatory environment, they have not shied away. they have pushed back at times when they felt regulations were overreaching. however, i think one thing that really sets coinbase apart is how it has leaned in to the regulatory environment. like i said, it's a testament that they would invite a federal prosecutor onto their board. so there's that. but one of the things i am seeing changing, and i think i remain hopeful for the u.s. regulatory environment -- of

course there are regulators all over the world, but let's talk about the u.s. for a minute. i am actually hopeful about the regulatory picture, because i think one of the old narratives was, crypto is just used for illicit finance, it threatens national security. the reality, taylor, i can tell you first hand, the reality is blockchain technology can help to combat ilicit finance because it is digital breadcrumbs. there's more transparency. and in fact, there are entirely new business is being billed right now, that investigators worldwide and prosecutors are leveraging to actually help them solve crimes. and prevent illicit activity. and when you talk about national security, i think i am starting to hear a shift in tone, which is encouraging to me, that actually the greater national security threat is for u.s. regulators to not embrace crypto or shun crypto. two particularly at a time when you have the chinese government launching a digital

cryptocurrency and exporting it to other countries. so i think we are starting to see regulators understand that there is actually a bigger national security threat from shunning crypto. taylor: is the u.s. behind? are we too far behind china at this point? katie: i do not think we are too far behind china at this point, but i think the next four years are going to be actually critical, so we are very hopeful that with the biden administration that they have an open mind towards crypto. by the way, not just for national security, but we also see it as a very large potential for economic growth. taylor: fascinating. so many places we could go. we will have to get you back on. katie hahn, board member at coinbase. perfect guest for a day like today. coming up, more on coinbase, you guessed it. see what cathie wood has to say about its blockbuster direct listing, and of course later,

focusing on bitcoin rewards, and of course an early coinbase investor joining us to discuss the long-term implications for the crypto space. this is bloomberg. ♪

taylor: coinbase's trading debut ushering in a new era for cryptocurrency. bitcoin neared a $65,000 for the first time. it has a raised some of that gain. it closed at about $62,000, although we know it does not really close. you can trade this all weekend. bloomberg intelligence analyst, $70,000, that's similar to when tesla allocated some of its

wealth to bitcoin and helped the digital currency breach that $40,000 resistance level. joining us now to discuss resistance and support levels, bloomberg intelligence commodities strategist who is a bitcoin enthusiast as well, talk to us about some key support levels you really see for this. mike: i think the big level is 50 and we put that in the distance. i do not know if we can get back there. we need some kind of major risk off event. the next support has moved up to $60,000. what i sense is, it just keeps rising. coinbase is part of this market coming into the adult space. and it's trading like it is much more of an adult market. the next level of 70,000, the key indicator is volatility. 30 day volatility has dropped to the lowest level since it broke out from 10,000 in i do not know october. what is going to stop it here. taylor: i love that you mentioned volatility. we heard from cathie wood earlier who spoke about

volatility. take a listen to what she had to say. >> we expect tremendous volatility in this. it is going to be unstable in terms of investors and analysts understanding what coinbase actually is. it makes most of its money on the trading of bitcoin and ether, the two biggest. it is going into a lot of other cryptocurrencies and crypto assets. taylor: we talked about volatility within the individual cryptos, but then you are also seeing volatility within coinbase as well. do you see the two tracking each other? mike: i think so but the thing to remember is bitcoin started it all, it is the beta, it is now the global digital reserve asset, and it is really a small portion of most people's portfolios. kathy wood is a part of that, tesla is part of that. cathie wood is in both spaces. coinbase is more equity, but i see a lot of the equity money is now going towards bitcoin, and bitcoin is becoming potentially the risk off asset because funds are flowing towards bitcoin.

generally, very much from gold. the rest of the space looks as a bond portfolio. i think it's very much a complement. it's just a question of where the next levels are, and what might trip it up. taylor: will it really building just be the new store value relative to go? mike: here is one of the most significant things that happens in markets. observing human nature. classic human nature that you have been investing in gold or assets for who knows how long, that what i see shifting this year, if you do not put maybe 100 units into bitcoin, you are at greater risk of looking like a fool 10 years from now, versus 1% or 2%, not a big deal. everybody is having those discussions. it is just a question of getting into the space.

that is where i secret -- where i see a trickle up bid. it's not having those sharp corrections or sharp rallies. maybe we are going to continue to migrate. i think we are going to 70 and if it takes longer, that is better rather than dropping and going back up. rather than jumping up and dropping back to 60. that is what happens in a good bull market. if you seek up 2% every day that is zero volatility. versus going down 10% and then 5%. taylor: we are getting into the weeds with the math, i love it. let's talk about another story. you had about the next level to legitimize this. you talked about tesla, allocating a portion of their own treasury dollars so to speak in this. is that a real store of value? does that legitimize this? do you see other companies follow? because like you said, you are the fool that doesn't get in. mike: that is the problem now. it's a good thing, but for every money manager who is not in, that is the problem. not in the space, looking like a fool, looking like the naysayers. then i probably need to get involved. look at it this way. you are holding a lot of gold,

and that gold is a pretty solid reserve asset. but the gold is clearly moving away towards bitcoin. in a world going digital, this digital reserve asset in the future could be the new gold. it's happening fast. so what is going to stop it? i don't know. but unless you put digitalization into reverse, you have to have that go. the way i look at gold is i am naked if i don't have bitcoin. taylor: fascinating. trick question. what's the question i always ask you at the end of our segment? mike: where are we going? taylor: no. i need to remember my password. i have bitcoin and it is locked up in some password i cannot remember. how do i get my password? mike: that is part of the strength of it, and partly why people say it uses a lot of electricity. it's part of the strength of the network. i have a son who is 20, we have solar panels running that node. anybody in the world can do that but it is decentralized 24/7 and no one can trip that up. if the entire country runs out

of power, it will still trade. that's the unique thing about what's happening in the future is, what's going to stop this? decentralization, and bitcoin represents rapidly advancing technology and innovation and pressuring things like the price of gold and crude oil being replaced by bitcoin. taylor: mike is only allowed back when he discovers my password. mike mcglone, our bloomberg intelligence commodities analyst, thanks for staying late today. we have to bring you another story. an abrupt leadership change at toshiba casting doubt of a potential buyout offer of the $20 billion japanese conglomerate. toshiba is replacing its ceo with the company's chairman. the change came as factions within toshiba mounted resistance to a preliminary buyout offer from cdc capital. private equity firm kkr exploring its own offer for the company. for a company that rarely shares its diversity details and

internal issues of any sort, amazon is setting a new set of commitments this year. we have all those details next. this is bloomberg. ♪

taylor: we are all focused on coinbase, but there were a few other stories making news today.

there was of course dish network and its sling tv unit, taking on some of the biggest names of the streaming at home fitness program. they are suing peloton and lululemon for allegedly infringing patents. the lawsuit accuses the companies of using dish's technology that improves the quality of video over the internet. no response yet from the defendants. and facebook will conduct an experiment to allow more users to block "like" counts on their own posts or content from others. it is expanding an effort to gauge whether the feature intensifies peer pressure, especially among young people. facebook says so far, results are mixed. and amazon setting hiring diversity goals for this year. the e-commerce giant says it aims to increase the number of women and black employees in its senior ranks, and really increasing the number of women in tech and science roles. it's an unusually detailed announcement for a company that rarely discusses the makeup of

its workforce in public. coming up, we are speaking with lolli ceo, a startup which focuses on bitcoin rewards, and of course an early coinbase investor, alexis ohanian, on what coinbase going public, doing that direct listing, what it means to the broader space. take a listen to him back in 2014 discussing bitcoin. alexis: i think there is absolutely a place for it. it is one that needs regulation and will need a cautious hand, but i think the right founders are building some amazing platforms right now and i hope it means a great future. ♪

taylor: this is "bloomberg technology." let's head to san francisco. ed ludlow is standing by with a wrap on the market. at least in new york we were also curious only about coinbase. what was san francisco focused on today? ed: i am going to talk about how stocks came off record highs because big tech was under pressure. yields up a couple of basis points. the only story was the coinbase listing. broadly there is such a big narrative around cryptocurrencies that comes with it. you can see bitcoin is actually showing it is marginally higher by around .5%, but that is because it trades constantly.

as a coinbase listing, we saw that pop and then decline. it carried bitcoin low with it. it was interesting to see ether maintained its gains, trading at a record high of around 2400 dollars. all the narratives around mainstream, cryptocurrencies becoming part in parcels of normal life. if there is one guy you want to hear from on a day like today about mainstream and normal life, it is probably the fed chair jay powell. here is what he had to say. jerome: what people call cryptocurrencies, they are really vehicles or speculation. no one is using them for payments, for example, like the dollar. but they are using them for is to speculate. it is a little like gold. for thousands of years, human beings have given gold this special value that it does not have from an industrial standpoint, but for thousands of years they have done that. bitcoin is much more like that. cryptocurrencies are much more like that. ed: even so, coming into today into wednesday with the coinbase listing, there was so much

interchange, so much relationship between the anticipation with that and bitcoin. this is the year to date chart. you can see the white line with bitcoin. we are up more than 100%. we know about tesla getting into bitcoin, big financial institutions bringing bitcoin access to mainstream investors. this is the orange line, the bloomberg crypto index. also pushed higher because there were other forces at work. it is interesting to see the close relationship that investors gave with this listing and how cryptocurrencies are part of everyday life. equity investors were little more cautious. these are stocks that are associated with cryptocurrencies. blockchain-related stocks down significantly, really feeling the effects as coinbase slid throughout wednesday's session. also, with bitcoin based in the green here, saying that it's up, that's against the reference price of $250 per share. that is just one day, a snapshot in time. i am really interested to see how this is addressed long-term. interesting to see cathie wood

sees volatility on the horizon. is this not just for the stock, but cryptocurrency as well. taylor: here's the good news. you kindly matched your tie with my burgundy shirt. since we are matching, i will invite you back on my program. ed: it is the small details. taylor: and you can answer those questions about coinbase as the week progresses. thank you, bloomberg's ed ludlow joining us in san francisco. we have to get back to the big story of the day. what does coinbase's debut mean for the broader space? one startup betting on them is lolli. this startup wants to reinvent the way consumers receive cash back on purchases. it allows them to receive bitcoin when they shop with their online partner brands like nike, sephora, microsoft, along with over 1000 more. will consumers want to open up their minds and digital wallets as cryptocurrency becomes mainstream? let's ask lolli cofounder and ceo adam edelman, alongside --

ceo alex adelman alongside alexis ohanian. you hear so much about how this has legitimized the crypto space. what happened today that changed the way you are thinking about your business and the rewards program with bitcoin? alex: the coinbase ipo was incredible for the space. it was a validator that you can create a cryptocurrency company, and you can make bitcoin more accessible to the world, and you can have real market value in something such as a centralized market such as the new york stock exchange. i think coinbase was great, the coinbase ipo what really well. it was above i think what many people expected. it did have a little bit of a dip, and the jay powell quote was really interesting. but if the government does not

recognize cryptocurrency and it thinks it's just a speculation, the u.s. government is going to get left behind, and thus the u.s. people are going to get left behind. we need more companies like coinbase and lolli that are leading the way for mainstream adoption of bitcoin, not just being a speculative currency, but actually a currency that is being used by millions of people. taylor: big words there. alexis, do you agree? has this really legitimized a business that you believed in just a few years ago? alexis: very much so. i was very fortunate to have been among the earliest investors in coinbase something like eight or nine years ago. those were the early days of cryptocurrency. and we have seen two waves of adoption here. we have seen mining, we have seen buying, and i really believe earning is next. and that is the piece that lolli satisfies. look, it has now normalized crypto as a publicly traded

opportunity now with coinbase and something anyone with a smart phone in a bank account can -- can now get in on-ramp two. i think we will see the portfolios of our generation. nothing like the portfolios of our parents and grandparents. that is why i think you are seeing a lot of increased adoption. now more and more institutions are going to find ways to use crypto as yet another part of a healthy and diverse portfolio. taylor: alex, let me come back to you. you just heard alexis mention it is not just bitcoin. this is so much more than that, it is other cryptos. how are you thinking with your platform that maybe it's bitcoin cash back rewards, or maybe it turns into being a theory him, you name it. so many other crypto's that have become legitimized. alex: bitcoin is the most important cryptocurrency in the world right now, one that has already proven its value to

society. i think like things like stable coins are starting to prove their value to society as being a more efficient medium of exchange. bitcoin is the best store of value over the past 10 years. that is undeniable. stable coins are going to make transactions on top of fiat rails way more efficient. i think merchants are tired of paying fees on every single transaction. they are tired of broad and not -- of fraud and not having an immutable currency like cryptocurrencies allow for. i think stable coins are going to usher in this next wave of adoption with more efficient payments. merchants, our merchants included, are going to adopt those stable coins to accept bitcoin more widely. and consumers should ultimately have the choice of whether they paid with bitcoin, whether they pay with stable coin, and they

should opt into the currency of their choice. whatever is more efficient and makes more sense for their needs. and merchants should be able to accept any currency that consumers are willing to pay with. taylor: alex, let me follow-up with you again that, because you mentioned consumers should be able to pay with whatever currency. just given the numbers on your platform, i know for example i use rakitin but it is cash back. have you found consumers have pivoted to your platform because they actually do want bitcoin versus cash? alex: absolutely. rakitin actually bought my last company, so we know them well. we, yeah, since we launched, bitcoin was at around $4000. now bitcoin is clearly at an all-time record high at $63,000. so effectively we are 10 times, 12 times better than rakitin at this point for many of our users. people want a currency that is continuing to go up over time.

i think they are tired of non-inflationary currencies. sorry, inflationary currencies. so they are looking for things like bitcoin that are better stores of value. so far they have been very happy with earning bitcoin overcash for their everyday purchases. over the next few years as users start to get the choice to earn bitcoin as a sort of bitcoin being their savings account, and then they can use stable coins at their spending account, i think that would be the most efficient way of exchange for the perfect payment cycle. taylor: alexis, let me come to you. as an early investor in some of these companies, i am thinking coinbase the way it is changed to become really a different company and how we think about how crypto has changed so much. what are you looking for in terms of exit strategies or future growth opportunities, as

you really have your eye on some of these early sectors? alexis: well, a glaring one for me and the reason why lolli was such an obvious investment, crypto still remains the domain of predominantly men. half the population is women. when you look at consumer spending and just activity of dollars, you would be really, really naive to ignore half the population. so the reality here is there are lots of people who are actually getting on board with bitcoin for the first time via lolli because it's an on-ramp that doesn't require you to go through the mindset of getting in the mindset of investing in going through investors then thinking you have to go through the hurdles of sinking all the things you have to sink. instead saying look, you are already buying online, you want

to save money, do it in bitcoin instead of dollars. that is a valuable value -- i think that is a huge opportunity. because if we accept that bitcoin and crypto is around to stay, it would be pretty naive did not be building products and services that are going to serve the entire population. taylor: fascinating. are women coming to you and telling you this is indeed the way they feel comfortable? alex: absolutely. we saw when we first started lolli that one of the biggest problems in crypto is it was reported that only 4% of all crypto users were female. and i wanted to share bitcoin with my mom, my sister, my friends, and i felt like in a lot of cases women are more risk-averse than men when it comes to investing. and so, if we can attach it to something which everybody does, which is a shop, that we can also create, or work with some amazing creators and athletes

like serena williams, that speak to tens of millions of women every single day. we can reach more people with this financially inclusive product like lolli, and we can make bitcoin more accessible to everybody, which is our core mission. taylor: fascinating. thank you to both. lolli's alex adelman, alexis ohanian, so great to have both of you on a day like today. really appreciate your time. you will have to come back. coming back, it's a city built on blockchain. it is one ceo's vision. creating a smart city in the city of nevada. it will have a new type of government entity and ultimately, quote, democratize democracy. more details in our citylab segment is next. this is bloomberg. ♪

taylor: imagine a city not built by bonds, but by blockchain's. the blockchain ceo envisions it rising from the high desert in nevada. let's get more insight into what this 67,000 acre utopia it would look like and what that means. let's do it with laura bliss and our latest citylab segment. how does this work? laura: thank you so much for having me. this is a parcel of land in the northwest corner of nevada just outside of reno. the ceo of a company called blockchain, jeffrey burns, someone who is all about cryptocurrency, the decentralized network-based technology listeners have been

hearing about, including bitcoin. he envisions building a city that uses bitcoin and cryptocurrencies like it to allow for many of the functions that you find in a regular city, whether it is buying groceries, paying for gas, or paying sales tax. he envisions a city with more than 36,000 residents, 15,000 homes, and an economic output of $16 billion over the next 75 years. taylor: some of those photos we were showing were just incredible. what i love about this segment we get to do with you, i really got my start in muni bonds, this traditional way you build cities and roads and bridges, and you do economic development zones. i am reading this story and i see lo and behold there is an

innovation zone. what would be in a blockchain innovation zone? laura: right. that is one of the interesting pieces about this proposal, which is just a proposal right now. blockchain is very much hoping to build, but to do it, they say they would actually need a new kind of government entity. so they have written some draft legislation that is now circulating in the nevada state house to set up what are called innovation zones, which would basically allow any applicant from the private sector that is investing in emerging technologies, like bitcoin or others, to develop a mixed-use community and gradually gaining control over schools and utilities and all the public services you would normally associate with a county. it sounds pretty off the wall but it is actually very highly supported by democratic governor steve sisolak in nevada. he sees it as a way to diversify the state's economy, especially after covid-19.

nevada has taken that hard this year. taylor: the governor on board. what about local leaders, because they represent the local people on the ground? laura: yeah. actually the county leaders were blockchain is owned are not on board. they are not interested in having arrival county government, which is essentially what this would be. but a ceo would say that it's necessary basically to be able to set up a new form of government that relies on blockchain from the ground up. i think there are other questions that get raised when you have a private company essentially taken the role of government. you might think about the 19th and early 20th century company towns, when we had timber companies and mining companies building and running towns like their own local government. in many of those cases you had these corporate residents who

did not always have the same kind of rights in production you would expect from a government. taylor: we will get you back to discuss all of this more as the proposal may be becomes reality. bloomberg's laura bliss, thank you for joining us. still ahead, moderna said it's covid-19 will stay more than 90% effective after -- it's similar to results we have seen from pfizer. we hear from the moderna ceo next about when the booster shot might be available, and how they plan to meet rising demand. as countries pause the j&j vaccine. this is bloomberg. ♪

taylor: after hours, a meeting

to review a rare blood clotting side effect of the johnson & johnson vaccine. a panel of u.s. public health advisers concluded without vote, effectively extending its pause, while they seek more data. a day to reconvene has not yet been set. there is little movement in j&j, as you can see they are in after hours trading at 4/10 of 1%. all new york city had to reschedule about 4000 shots due to the j&j pause according to the health commissioner. the vast majority of new yorkers will keep the same appointment but receive the pfizer or moderna vaccines instead. with increasing demand, how does moderna plan to deliver the supply? bloomberg's alex fields spoke with medea earners -- modernist ceo earlier. >> we are at 700 million and $1 billion, up to $2.8 billion next year.

it's a lower dose. so the last few weeks we think it is the right plan. with the news evolving the last two weeks, we're reassessing. alix: have you been getting more requests or calls from other countries? stephane: governments around the world are scrambling. as you see, things are ramping up around the planet. europe, and southern. i think people are worried. the situation of covid has changed because we thought it was worse a year ago in terms of what kind of safety profile there would be. [indiscernible] alix: it looks like you have two things you have to work out. can you ramp up supply enough to deliver the kind of doses that countries want, particularly in light of what's happened at

astrazeneca in j&j? then you are dealing with a kinda you need for the booster shot in the variants. can you do both at the same time? stephane: yes we can and we are doing that. on the variants front, we're currently in the clinic preparing a boost strategy. one is testing the current vaccine in people according to clinical studies a year ago to understand what will happen when you do that. we saw a very unique vaccine. it's 100% of [indiscernible] it's a boost to people that are being primed with vaccine one year ago. it was a mixed product that was a two and one. we think this one will boost.

we actually put online showing that the new boost has a very nice protection. so we are sure that we could have the data within a matter of weeks or 24 hours. alix: does that mean we can get this booster jab if we need it in the fall? stephane: that is the plan. best case scenario. like we talked about last year for the current vaccine. the best plan that we are working towards because the regular leaders have given very clear guidelines. we know what we need to do to get the boosts authorized. we are working towards getting those boost available for the fall. so that as it evolves, with the other variant and so on, we are able to protect people. we have seen in the fall and

winter that we can do it as soon as we can. alix: you talked a lot on your investor day for vaccines about how it will be a pandemic. it will not go away. it will be an epidemic, not a pandemic. but if it's an epidemic when can , we expect it to be mixed with a flu shot, for example, so it becomes part of our yearly thing? stephane: we are working that. we have a flu vaccine. we believe the flu market is not well addressed by the current vaccine. in a good year, it's 62%. in a bad year it's down to 20%, 30%. i believe the world needs a higher flu vaccine. we are continuing to do that this year. we want to combine the flu product with the covid variant used and put it into a single dose that you will be able to get your pharmacy once per year in the early fall, so that you have a good winter without getting the flu or covid.

whatever the strength is at the time. taylor: that was the moderna ceo. that does it for this edition of "bloomberg technology." tomorrow, bloomberg's david westin sits down with bank of america's brian moynihan at 5:00 p.m. following the bank's earnings. you do not want to miss it. this is bloomberg. ♪

want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system for just four easy payments of $19.95. and if you order today, we'll also include free shipping. still not sure? then we're eliminating the risk. try the aerotrainer in your home for 60 days.

if for any reason you don't want to keep it, we'll give you a super easy refund. we'll even cover the return shipping. this is a limited time offer, so go to aerotrainer.com to get the body you want with aerotrainer. >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. announcer: the following is a paid presentation brought to you by rare collectibles tv. ♪ >> the $10 indian head gold eagle containing nearly half of an ounce of pure gold, is one of only two coins that the legendary sculptor augustus saint-gaudens was responsible for designing. the inception of this stunning coin began with president theodore roosevelt's famous letter to secretary of treasury shaw on december 27, 1904.