carolyn: i'm caroline hyde in london in for emily chang and this is "bloomberg technology." coming up in the next hour, record production and deliveries. top estimates in the first quarter. the bitcoin bet pays off. we will break down the numbers and have analysts and investors reactions. apple doubles down on the u.s., pledging a 430 billion dollar investment to create tens of thousands of jobs and open the first east coast campus.

political statement as it counts its tax payments. we have the details. lyft backs up. the company puts its autonomous driving research unit into rivers, sending it to toyota with a $15 million deal. these stories in a moment. first, u.s. stocks rising once again to all-time highs amid a solid corporate performance in its anticipation of the fed. more on that with bloomberg's katie grayfield and kriti gupta. reporter: there was plenty of green on the screen today, the s&p fell 500, held onto gains up about 12.2%. the nasdaq 100 stronger, up .6%. it helps that treasury yields were basically flat today up , less than one basis point. the big winner is the chip with that semiconductor index ending 1.7% higher. overall, pretty quiet day in markets. the next chart helps explain why.

it is the biggest week of earnings season. over $18 trillion in s&p 500 market cap reports this week with tech rated the top of the pack. it has been a pretty good quarter for tech so far. companies that have reported have been up about 18% on average, but we are just getting started. tesla kicked us off after the bell. we still have to hear from apple, amazon, alphabet, microsoft all the big tech , heavyweights. if you look at the options implied moves, all four of the companies expected to move at least 3% in either direction after earnings, so it could be a long week. kriti: thank you. when you talk about those big moves, there's another big move we have to talk about in the crypto space. take a look at this chart behind me. bitcoin actually down at the moment, receding from the 53 point. but in intraday trading, it has gained. up almost 5%. you actually saw those stocks gain with it, those crypto

stocks. you also saw those rallies, even paypal, which has been associated with bitcoin. i want to go with bitcoin from the big tech names. you were mentioning we are expecting those earnings. let's see how they did today. kicking it off with amazon, higher on a reported stock slip. that something we sought apple. that's not the reason apple traded higher today, this was after a $430 billion investment from apple. that will be pretty focused here in the states. both of those shares are higher. you have spotify gains on plans they could raise prices. once again, more revenue for that music company. lastly, i want to bring your attention to that global autonomous electric vehicle etf. the drive etf. when we see the big tech names rally, they tend to take electric vehicle makers with it. that brings me to tesla. tesla is a hot story up 1.2% in , regular trading. down after hours, even though they did beat those estimates. why are they dropping?

traders on the floor say it has to do with options pricing and perhaps it wasn't as big as some were expecting. caroline: i love it. i also love the banishing of the vaccine band-aid as well. where was priced. katie grayfield and creed guida -- kriti gupta. just setting us up to describe a little bit deeper into tesla's first quarter earnings. tesla top holding in the firm fund. you caught everyone's attention a little earlier in the year your view on where tesla's price target will go, to $3000, by 2025. what did you hear today that excited you? >> i am most excited about tesla's opportunities in autonomous driving. what we saw in the most recent release is they do plan on releasing the full self-driving

beta version of the city streets autonomy software to customers, more customers, soon. tesla also mentioned they are realizing that with the new vision system, that radar is coming unnecessary sooner than expected. i think this has been a long time coming. tesla has the largest deployment of robots in the world, if you think of each car as a robot collecting information. i think now as we are seeing autonomous vehicles commercialized for the first time, waymo, commercialized in the u.s., i think tesla is a realplayer to watch with their scale and data advantage. caroline: is it bullish or not when you hear of a list getting out of that and selling on to to toyota? tasha: i was not too surprised to hear that. we have seen a lot of shuffling

in this space. most recently gm also acquired a company called voyage. it acted as if they were close to commercializing. an acquisition would seem to say that maybe they are not so close if they have to integrate new technology and a whole new team into their team. i think it's a tough problem in technology itself. i don't think every company will be successful. we think the auto industry will consolidate significantly. over the next decade, we are going to see the shift to both autonomous and electric vehicles. i think you will continue to see more shakeups and whoever launches and gets to scale soon we'll have an advantage in this space. caroline: of course, there are plenty of other reasons as the basis of the valuation and the view you think it will get to annual revenue of $700 billion. it's cap full of efficiency, it's an insurance business. where do you think it's going at the moment? what did you make of how cash placement is and what it is doing with bitcoin and how it is driving down the costs of making

each car? tasha: yes, we have done a lot of work on this space. my partner analyst has modeled the cost decline of electric vehicle batteries. it says for every two or doubling, you get a corresponding reduction in demand. if you use the model of tesla cost decline, we saw that analysis with battery day of the $25,000 car, they expect that for the next two years, that electric vehicles are reaching a price cap with regular powered cars. that will cause a very important inflection and demand. the total cost of ownership of the ev is already lower than a gas powered car. now the sticker price will be lower. that is what consumers look to. we think electric vehicles are the future and are just in the early innings. tesla pointed out 97% of cars

out there today, gas powered cars, and 98% of the trade and our gas powered cars as well. on the capital efficiency side, one thing we changed on the recent price target, we think that they could be more capital efficient than we were previously giving them credit for. that is as we see them build out production and shanghai and across the globe. we see they actually can lower the cost per car a little more than we had actually anticipated. again, that larger story is really that long term costs decline curve with electric vehicles that we have done some work on. caroline: certainly they are talking plenty about the cost of the average vehicle, $84,000 in 2017 and now it is only $38,000. we see that movement. i'm interested in the overall competitive landscape. you say there is a seismic shift in the whole view on electric vehicles. is there a worry that with gm, with volkswagen, they too can

drive down the cost of electric vehicles and basically there's a peak market share for the likes of tesla? >> yes, that has been an important part of our thesis, we think other players will enter the market with competitive electric vehicles. in our model, we don't expect tesla to take more than 27% share of each segment that they enter in the vehicle space. we expect other automakers to come in. what we have seen is tesla is still much further ahead on the performance. if you model those? my analysts have done work looking at the charge rate versus cost and if you look at tesla's lineup, other automakers might be able to match performance, but they are doing that by producing a very expensive car. tesla is the only one able to produce a high performance relative to competitors and expensive vehicles so we think

they are at least three years ahead of the competition. that said, we see a lot of uptake, especially at smaller electric vehicles in china. electric vehicles will happen across the globe and it will not just be passenger cars. we think it will be machinery and electric semi-trucks that could be cost competitive to rail. electric vehicles are the future everywhere and we expect many companies to participate, but not everyone will be successful. there will likely be consolidation. caroline: you of course are a long-term holder in terms of your thesis, a long-term perspective. but when you see the share price, not moving up volatile right now, up by 1.8% in after-hours trading, seeing swings of anywhere up to 7%. but do you think the market had anticipated all the good moves -- news and we needed a real

blowout in terms of performance today? >> that is a possibility. i would say when you look at tesla as a stock, you should look to the long-term. we take these earning periods as a chance to learn more about the companies, listen to the calls, get more details on things like that and the pilots they are enabling. but overall, i think tesla is an innovation story. we invest in disruptive innovation and we have a five-year term on all of our investments. when you look at this, things can change quickly. you see that with exponential growth. so you really want to look at it over a longer term. so i think there could be some immediate reaction to the news today, but i would say that we are certainly keeping in terms, we are certainly looking for the longer term picture here, that five-year picture for both economy and electric vehicles. caroline: and with a bull case of $4000 per share and $4

trillion market cap, quite phenomenal set of research. tosha, it's great to get some time with you, from ark invest. tesla said it will sell its autonomous unit to toyota. a 550 million dollar deal means lyft is to turn in adjusted profit in the third quarter of this year, following uber and stepping back from the driverless vehicle research, once thought to be on the verge of revolutionizing ride-hailing. coming up, it's also related to tesla in some way, bitcoin rallying once again, back to nearly $54,000 after hitting the lowest level since march. how sustainable is the price at these levels? how much higher and how much lower? we will have to debate. this is bloomberg. ♪

caroline: bitcoin rallying back a little bit as investors are taking advantage of the lowest levels in seven weeks to pile back in. additional currencies climbing past $54,000. currently trading 3% higher in the last couple days. we got interesting news. jp morgan preparing to offer a bitcoin fund to wealthy clients. the latest sign that that wall street is coming into the largest crypto currency recent months. for more, let's get the inside track, the chief commercial officer at bit pay. your take, it has been volatile, that's volatile asset, we know that, but do you think it was jp morgan news, more institutional buying, people making the most of institutional price point? >> thank you, nice to be on.

i think there's been a lot of excitement with the coinbase ipo. with that, the markets are trading lower and there was a coinbase hangover. in the old days, three or four years ago, that price drop of 10% or 15% could become a 35% -40% drop. it shows how the market is different and bitcoin. it started dropping in institutions came back and bought a 45. that's the price floor at that point. institutions got in around 40 thousand, 50,000 in the last couple months. so they thought anything below $50,000 was a good price and they started buying back up again. what you are seeing in between the shift of institutions playing the bitcoin game and the regular retailers, the small investors moving out of it and to the alt coins, and starting to turn to those industries. caroline: full disclosure, my husband is a senior manager at coinbase. but it's interesting i heard

some takes that may be the fact that we had this means there are more assets that play now. if you want money to work and you want to gain exposure to crypto, bitcoin isn't your only game in town anymore. do you believe that? that may be some flows were actually taken away by the fact that you have this big listing? you have the appetite and all the other coins as well? sonny: three years ago there was ipo with a lot of other coins as well. the difference is, people believe in the event over the week with friends, everyone was talking about i'm buying this going, i'm buying solano, whatever coin they wanted, and no one was buying bitcoin because bitcoin only has a two x or three x run-up in the next couple of years. where these other coins can make five or 10 x in one year. a lot of people believe smart money or easy money is already made from bitcoin and now it's institutional where you can get it 10%, 20%, 50% retail invest.

now these young traders like robin hood traders want exciting returns in four or six months. caroline: what is the next catalyst we look to after a listing? it could be to the downside or the upside. sonny: i think real-world world use case. i think everyone is convinced trading is here to stay, jp morgan is launching new funds about crypto and all that. but what really can we do with this crypto? you're seeing the nft boom. things in this generation that are happening. bit pay won the payment side. camping will accept crypto. last week, we work accepts crypto. my phone is ringing off the hook of companies wanting to accept crypto. you're starting to see that on the payments side and square and paypal jump in that space. there's another catalyst coming in june, another bitcoin conference. a physical conference in miami and you will have all the top people like jack dorsey and

there will be a lot of innovations coming around that conference. and a lot of new announcements are driving the markets higher. caroline: i'm interested in that point of actually spending your hard invested in bitcoin. i feel like people want to hold this asset, or indeed speculate. it's a trading asset, but are people really buying their tesla's with it? the companies that you were speaking to, when you put in place the opposition to purchase bitcoin, is anyone actually doing that yet? sonny: yes. bit pay processes over $1 billion a year, so people are spending crypto. the difference is four years ago, 95% was coming from bitcoin. last week, we had the lowest bitcoin with only 15%. -- 50%. we have a lot more buy-in from doge coin, believe it or not. it went live with us in the dallas mavericks and mark cuban is a fan of that. we saw over 10% of transactions come through dogecoin last week, but also favor coin is a stable coin backed by the u.s. dollar

in visa and mastercard are in that in a big way. people will use bitcoin may be as an investment vehicle, but stable coins and other currencies around payment are actually spending outlines with credit cards, which is much more riskier. caroline: spending the doge. bitpay chief commercial officer, sonny singh. great to have your intake, we thank you. meanwhile, china is expanding its antitrust crackdown beyond the technology empire. the government is inspecting monopolistic practices. the food delivery giant in beijing has become concerned over the growing influence of tech companies, such as alibaba and plenty others over every aspect of chinese life. coming up, apple plans to invest $430 billion over five years, creating 20,000 jobs and building a new campus in the tar heel state. details are next. speaking of apple, reproving -- reporting earnings this

wednesday, the fiscal fourth-quarter earnings reports might be a hard act to follow. keep it here on bloomberg as the most valuable tech companies report all this week's news. we have got you covered. this is bloomberg. ♪

caroline: apple doubling down on its u.s. investments, announcing a $430 billion plan to generate 20,000 jobs and a new sprawling east coast campus. bloomberg's mark gurman joins us now to dig into what was -- what i took away is quite a political statement, first and foremost, who they were talking to, the consumer and the indian politicians. put the size and scale into perspective for us. mark: this is apple saying they will make a half trillion dollar investment across the u.s. over the next five years. according to them, this is a 20% increase over the initial $350 billion investment they already pledged they would make

beginning in 2019, which obviously was just a couple years ago. the big question for me is how much of this is money they would already be investing that they are simply touting to whatever benefit there is. my sense is most of it, these are in many cases existing suppliers they are using to source individual components to the iphone and other devices. at the same time, we are seeing significant expansions in several different offices across the country. here in los angeles, they will expand the culver city campus. san diego will see a large expansion. boston will see an expansion. they have an office with only a few hundred employees in boulder, colorado. which will also see an expansion. they have already said they are doing work in detroit. they are doing an expansion in atlanta as well and in iowa up. any different reason that you look at across the country is

seeing an expansion. and that is being capped off with a new campus that will be located in north carolina with as many as 3000 employees working on ai and software. you are seeing apple really move the heart of the company sort of out of silicon valley, out of northern california and spreading it around the country. caroline: and sort of putting across the narrative that that was in some way focus of equity, bringing apple's money and dollars to bear, the cash to every single state in the united states. but it was also a notable they were touting the amount of tax they pay as well. interesting the narrative we are getting among u.s. politicians at the moment, with the administration looking at raising taxes, but also looking at taxes abroad as well. mark in the history of apple, : they are 30 or 40 years old at this point, they have never said anything or done anything by accident. it's no coincidence that later this week, we will see earnings results from the first full

quarter of the 5g iphone 12 line. make no mistake, it will be probably be a record crushing number in many respects, based on them saying they will be making multimillion dollar donations. they pay all of these taxes. this is a way to let the biden administration know, just like they did with the trump administration, we are paying a ton of tax already and there is antitrust scrutiny, you are aware of the trial and a hearing last week on capitol hill, and the other factors related to corporate tax heights -- hikes that have been discussed by the biden administration. there's a lot at play and it makes sense they are saying this days before earnings at the height of the tax discussion. caroline: less than a minute left, but big ad tracking changes as well. mark yes. : earlier today on monday, apple released ios 14.5. basically, the news today is that it's out, we have known this was coming for six or seven months. they announced it in june. they waited a few months to get everyone's ducks in a row.

the big news is that it's apple. when apple releases new software updates, you are likely to see 500 million people take advantage in the next three months or so. we will see the results. caroline: mark gurman from bloomberg. thank you. plenty more and tesla's numbers, up next. this is bloomberg. ♪ so you're a small business,

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caroline: this is "bloomberg technology." i am carolyn hyde in london and for emily chang. out with the first quarter earnings profits with the top estimates revenue in line with projections. it fell a little bit in late trading, leaving traders apparently wanting more. ed ludlow. ed: the story is that tesla is getting better and more efficient at building electric vehicles. the rate at its top cost outpaced the rate at which prices costs. we know about the price cut here in the u.s. and china.

and that really helps to boost margins at a time when average selling prices were falling. we also got updates on all the things going on around the world. we know that gigafactory berlin and gigafactory austin will come by years end and start delivering vehicles in small volumes. tesla was able to mitigate the impacts of the global semiconductor shortage by switching suppliers in the quarter and recoding it software, rewriting it software to match the chips, which was an interesting to it. shares are lower throughout. coming into this, because the delivery numbers are 185,000 in the first few months so strong, expectations were high. maybe you can ask your next guest, the beat was pretty significant, so what did investors want to see more of? maybe we will hear more during the call. we know the big final take away. tesla spent more on digital currencies, cryptocurrencies. $1.5 billion than they did on capex. something to think on as we move

into the second quarter. caroline: they also made a tiny profit of 100 million. we have not even discussed saturn a nightlife. we thank you running us through the tesla numbers. dallas sick with the fundamentals of tesla and bring in garrett nelson of cfra. he has been plowing through the details. we are awaiting the analysts calls, but what you make of this less than intrusive reaction of after our trades? usually they were pricing at a 7% swing. >> thanks for having me. i think it is a little surprising that the stock is down slightly after hours, given the magnitude of the bottom line. he came in at $.16 ahead of consensus. this is not a small beat by any means. but i think it's a reflection of the fact that tesla does have a strong track record of execution over the last couple of years. this is the sixth time in the last seven quarters that they

have beat, so i think investors expect them to be a. there is not that much of a pronounced pop in the shares when they do it with better-than-expected earnings. so this is one thing that i can pinpoint as a reason why the stock is down. really the guy's was totally unchanged from what they said in february. so, it's really, i think, the fact that it did not provide more specific sales guidance, it was the same as the deliveries with public at more than 50% this year over the half-million they delivered last year. and i think it was the strength of the first quarter deliveries. there is a little bit of disappointment there, but we think that is a calculated move on behalf of management, which really takes the pressure off them to meet the short-term operational delivered target. caroline: overdeliver rather

than the other way around. did you get enough details in terms of new factories coming online, new production coming from berlin? garrett: that guidance is unchanged. berlin and austin are both still expected to be online making first deliveries by the end of this year, as well as the new vehicle model of the semi truck, also first deliveries expected by the end of the year with the cyber truck first deliveries early next year. so, really no change at all on the operational guidance. caroline: i know for you the key issue for tesla really, and the reason you have a hold on the shares is competition. what do you need to hear from elon and the entire team on the call to assuage her issues of being at perhaps peak market share? garrett: the reason we have a

hold on the stock is our concerns over competition. people that talk about competition for a long time, the threat of competition surrounding this company, but the competition is eminent, that's the difference. and they will be seeing these emollient -- models, as well as several models from traditional automakers, voltswagen, style alert, general motors. all of these things are coming by the end of this year. and i think the difference is, the specs of these vehicles are comparable to a tesla vehicle, when you look at both the price and the single chart range, which is extremely important to electric vehicle buyers. so i think that is what has really changed here. that in the fact the stock was up over 700% last year. that was a big move. i think it is really taking a breather here early in 2021.

caroline: what about context? lest we forget that ramp up that we saw in 2020. we had tosha keeney on to start the show and her big thesis, that stand out call from $3000 per share come 2025 is the whole robo tax, the autonomous driving in the fleet of anyone when you are the next tesla owner being ready to lend out your automobile. where do you think we are in that sort of narrative? do you care about it much when it comes to wet tesla's overall analysis is right now question mark garrett: there is no question -- right now? garrett: there is no question that there is opportunity. they are the first two to crack the code of the fully autonomous vehicle, that would unlock pricing power. if they have a product that no other on a maker has, it will become -- it's a must-have product that we compared to when

the iphone was first released. no one wanted a nokia or motorola anymore, everyone had to have an iphone. so it's very similar to make that analogy. while they get better, the autopilot gets better with each software release, we still think they are a ways away from getting to full autonomy. so we think it's probably sometime closer towards the end of this decade before that happens. caroline: i will let you get a way to listen in on the call. plenty more. it was great to speak with you. we thank you for the time. coming up, as vaccinations ramp up, companies are preparing to reopen. the world is likely to look different compared to the pre-pandemic era. we will speak to the ceo of salesforce about how the state of services will be changed permanently. our shipping conversation is

next, this is bloomberg. ♪

caroline: the states of new york, new jersey started to ease restrictions on crowd since covid-19 infections and hospitalizations continue to flow. u.s. president biden plans to announce tuesday new guidance on wearing masks outdoors to vaccinated people. this is the number of tech companies in the united states getting ready for a slow but sure return to the office. salesforce said it will reopen in may starting with volunteer groups for 100 vaccinated employees per floor. the ceo at salesforce service

house is the latest guest in our work shifting segment and you've got some really interesting facts to share with us. first and foremost, talk to us about the optimism you are seeing in the data of your clients seeing the reopening, a reality. >> thank you, it's great to be back on the show. there is a good reason for cautious optimism right now. of course it depends on country and region, but in the u.s. 40% of americans have gone at least one covert shot. and now business leaders are starting to think about how to seize the moment for this great reopening of society. the really exciting time. we see this in all of our technologies and how they are being used. 700% increase in use versus last year. and a lot of the questions that are coming in our questions about whether stores and restaurants will be opening back to full hours. caroline: so it's about wanting to get out, wanting to start the

look for cash. you have not been able to enjoy the environment of people getting out and about, how markedly changed will markets be, will some of your clients be in terms of the ways that they still use digital front and center if they still reopen? >> we live in this digital world now, and even for these in person experiences that somebody of us have craved for the last year, a lot of those experiences will start digital first. you think about going first and searching on google to see if a restaurant is open, or to book a flight, or to book whatever travel that you want. a lot of that is happening online and even if the ultimate experience is in person. caroline: i certainly never want to go back to -- i was just at a market out doors and the ability

to just run around without cash in your hands and to just be able to do direct payments so easily, it's a whole new shift, and i'm sure it's bet up the pace of development and disruption over the united states payments in particular. where do you think customer services have changed in particular? clara: every aspect of customer service has changed. we saw this in the original covid shut down. overnight our agents had to go home and work from home. before i think there was this industry wisdom that it can be done. now people are working out call center agents from home, some people are working from stores when traffic is light. there is a lot of desire. the majority of customer service leaders we talked to don't want to go back to everybody in the call center every day. they are looking at the remote strategies or hybrid strategies. so it's really that you have a

service from anywhere. caroline: what about the technology supporting that. intelligence finally coming to bear within your industry. how do you think it will be maintained? how will it be improved when we see those changes? clara: you take something like service client voice that launched last november and is our fastest growing product, and it takes these real-time call transcriptions from the customer. and as the customers talking, it's helping the service agent look things up in real time. so it's this real-time ai assist the way that many of us would use alexa or siri at home. we are now putting that in the hands of service agents, whether they work out large companies or small companies. caroline: anything that did not work, or you saw and put into practice in did not want to be used in the same way? clara: there has been a lot of lessons and learnings. going back to the call center

example, when the agents got stuck in the old world, they would just turn to their neighbor or supervisor and have them come talk to them. they can't do that anymore in this remote environment, so we really had to learn in real time and get creative using service client. we also have something coming out next month for workforce engagement to say how do we actually enable this on-the-job training and real-time coaching when we are in this remote and hybrid environment? and how do we think more broadly about service. it's not just throughout the contact center, its field service. we are thinking about the elevator repair men and women who are going out, and janitorial and food service to help our office parks and help our sports stadiums come back and reopen for business. caroline: that's an exciting picture you paint. also plenty of lessons learned for us. thank you for joining us today.

meanwhile, top executives and policymakers are expecting -- discussing core issues at this week's bloomberg green summit. among them we hear from zug's ceo next about her outlook for the atomic cv industry and approaching the climate crisis. as we go to break, investors like spotify shares of the company said it would increase prices. spotify said it will climb to $15.99. just one dollar increase starting april 30. you will also see a hike. this is bloomberg. ♪

caroline: let's turn our attention to the world of autonomous vehicles. the bloomberg green summit is underway. ed ludlow spoke with the ceo of the self product driving to get on the wave of consolidation that hit the industry in the coming months. >> i would say there has been a

fair amount of consolidation. this is a complex problem. it's probably a generational, one of the hardest ones from a generational standpoint. it is one that is worthy so many would pursue it. its capital incentive. also from a talent standpoint and from just being able to find all of the talent, keep it in align new forces. so when you also raising capital, you probably have to make concessions that are, in terms of what the investor or the strategic investor wants. it worries about itself and focuses on execution and building a company the right way, meaning really understanding that eventually this is a big business, and we don't relate until you solve the technologies to build the company. so that is what we are focused on. at the end of the day, because it's a multi dollar opportunity,

we think that there will be several players. i don't want to be too facetious , let's say there won't be many, but there will be a few. that's the way capital market works. and so we will have fellow travelers along the way who will also be competitors, and that's ok. >> as i said, i've had the benefit of going behind the scenes of you and seeing the zoox vehicle. the question is what is it doing to accommodate passengers with disabilities of blindness, deafness or other issue -- other disabilities? aicha: we are in the middle of talking to communities. understanding the ingenuity has solved the solution for somebody without asking them what it is that would work for them. so we are in the middle of hearing that out, and it's a broad community with differing needs. it's important to observe, so we

have a lot of conversations about how i'm going to introduce that. right now it's important. this is our first product. we will take it to market because solving the technology is really, really important. as we are getting information and looking at all of the different modifications in the future, we are putting input into account in coming with solutions that will work for everyone. >> there is a lot of excitement and optimism, particularly from wall street and the investor community about president biden, his and ministration, the infrastructure, and what that could mean for electric vehicles. a lot of that seems focused on consumer or passenger cars, but do you see any specific momentum or boost coming from the biden administration, specifically with regards to thomas technology? aicha: we are encouraged to see the administration focus on sustainability. we think that's really important

for decades to come in generations to come, so we embrace that and we welcome that. there is actually a lot going on in terms of autonomy. we are in constant contact with federal, state and local authorities, both from a regulatory standpoint, so how can we basically merge into the existing footprint and environment, and i really encouraged. everybody sees what's going on in the cities, they are congested, it's not like they have a lot of real estate footprint where you can say, i will get rid of this and put more roads, and what have you, we also see the impacts on the real estate footprint in terms of parking. so far we have been very encouraged. great conversation. i have personally talked to a lot of people so that my co-founder in my chief safety integration officer and the team are in constant communication and we are influencing things. they are also telling us what is important to them and we are

incorporating that into the product. caroline: what a great conversation. zoox ceo speaking with our very own ed ludlow. we are going to have to talk about the hbo max mobile app. falling nearly 4% in the week ending april 20 fifth, despite the much anticipated debut of the movie mortal kombat. that's bloomberg analysis apo data. i want to bring in our entertainment reporter, who might be tired having stayed up to watch what we call the academy awards, basically called the oscars. can we talk about the desire to watching films at a moment in the cinema and in the theaters? >> the demand to go to the theater seems to be there for the first time in a very long time. you mentioned mortal kombat, that will be gross $22.5 million in north america this past weekend. that's the second-biggest opening of the pandemic

following godzilla versus kong. both are warner bros. movies. warner bros. is part of the same company as hbo max. late last year it announced it would be releasing all of its movies this year in theaters and on hbo max at the same time. theaters are upset, but at the same time that's what keeping them open. people showing up for these movies. caroline: it was interesting that we heard from the winners of the academy awards. nomadland did incredibly well. backed by disney, available on streaming, but the women who won, the lead actor category for female, who start and no band lad said get out there, stop sitting next to people in the dark and in theaters. so she wants that to be seen in the big screen. >> i think i saw seven or eight of the 10 nominees for best picture were all available for streaming. which is very unusual.

but frances mcdormand, who you brought up, was really the only person who you heard last night stand up and call out people to go back to the theater. i think there is still some concern that even when movies open in theaters that there would be a contingent of the population that chooses to watch online because there is so much relief there. it is a little early for us to draw grand conclusions about what movie theaters are going to look like. we are still at less than a third of the country who has been vaccinated, so there will be a bunch of people who are understandably a little nervous still. caroline: i can understand why francis must terminate -- frances mcdormand one, it's wide open spaces and beautiful. same with godzilla versus kong, you want a big space whereas maybe a comedy about a korean family in the u.s. does not need the big impact film environment that you are usually used to.

what else is doing well? how are ceos and business leaders within the environment speaking to you about it? lucas: i think the anticipation is that the movies that are spectacles will continue to do well in theaters. that godzilla versus kong, which did quite well. we have fast and furious nine coming out later this year. i think that's expected to be a big hit. anything in the marvel universe or star wars. some of the big animated movies. these are projects where there is still a clear reason to go to the theater. a lot of this smaller adult movies, comedies and the likes, i think it would be harder to convince people to go to the theater. there still may be. this was the direction the movie industry was headed in. in the pandemic has accelerated certain shifts. caroline: great story. to -- thank you for talking to us. that doesn't for this edition of

"bloomberg technology." we get earnings from companies later this week. apple, facebook, amazon. there is so much to be excited about. tesla beating on revenue. last look at the shares after our. elon musk talking about the shortage and chips. ♪ we know how much you count on us...

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daybreak: middle east." it is a bank earnings bonanza with results from hsbc. we speak to ewen stevenson on this show. another record for the s&p 500. tesla shares slip as it beat some profits but leaves the growth outlook unchanged. antitrust