>> from the heart of where innovation and technology collide in silicon valley and beyond, this is bloomberg technology with emily chang. ♪

emily: i am emily chang at san francisco and this is "bloomberg technology." coming up in the next hour, u.s. stocks coming to an all-time high after week jobs data. we break down how the tech sector fared. plus, imagine an online world without passwords? google is doing that, working toward a password less future and the search giant says it will be a safer and more secure future. and, could the saturday night live appearance of elon musk move markets? doge traders are organizing taco watch parties as the currency has delivered astonishing returns for some traders. those stories in a moment. first u.s. stocks climbing to a record after the surprisingly weak jobs report eased fears about inflation a cutback in

stimulus. let's get the full markets picture. kriti: you saw the disappointment in the payrolls report and the immediate reaction was tech outperformance for that change throughout the day. however all sectors ending in the grain. you can see -- in the grain. the s -- in the green. the s&p 500 and even small caps outperforming. again that by the depth trade coming in strong -- buy the dip trade and the semiconductors coming in strong. we have to talk about crypto and we've been talking about ethereum making these massive moves. take a look at vine compared to bitcoin this white line, and ethereum in blue so bitcoin has a major market cap foothold. i want to go to other parts of the tech sector because we had a broad rally. that did not, necessarily hit every part of the stock market just those 11 sectors. . flip up the board and i want to

show you chinese adr's flat on the day and they did take a bigger hit intraday and pared back in last minutes of trading. nasdaq buyouts and electric vehicles a massive rally as well. we will see if that continues into next week. ed: investors more relaxed about inflation concerns, and that stimulus would be paired back. the biggest movers in the s&p 500 are tech names, apple, microsoft, nvidia, alphabet. those are the ones with stretch valuations we saw concerns run when yields were rising. there is concern tech is out-of-the-way. there are other stories, match.com, online dating, reported earnings wednesday, surging friday still seeing momentum. the story here is the pandemic reopening is putting people together. they are in love and going out for dinners they cannot do during the pandemic, and there is momentum in that stock, up

almost 4.5% friday. a similar story with roblox, reporting earnings monday with its price target at $85 and talking about how it is an example of how investors can participate in this new trend of digital interaction, not just playing video games but socializing at the same time and creating video games. these are nice themes. finally, electric vehicles, nikola, they had earnings, no news is good news for the stock. it was up 12% friday, investors with a sigh of relief. and tesla, elon musk hosting saturday night live. emily: thank you both.

it was not the jobs day we were expecting, with estimates so widely off. an economic voices on the topic were abundant. >> i believe we will reach full employment next year. but today's numbers also show we are not yet finished. >> for all those people saying, the fed needs to normalize quantitative easing, today's jobs report is an example of, we have a long way to go. >> more people look for jobs in april than the previous month. so we are seeing positive signs as we move forward. >> the labor market can only recover so much as we are able to address the scope of the public health crisis. >> the scale of the numbers we are looking at, the gross inflows and outflows, are unprecedented. >> is the demand, or is it more likely supply. >> we are still seeing stronger growth in sectors that were not necessarily where the job losses initially were. emily: for more perspective on

the market reaction and how the tech sector responded on the day, we are joined by mark mahaney of evercore isi. what is your read an interpretation of the job report and what it means for big tech? >> for tech across the board, which includes a lot of high-growth, speculative names, where value is the terminal value of the dcf or earnings come in out years, rising interest rates are a negative and when you have a day like today which makes you think that interest rates may not rise rapidly, it is a positive for that group. tech now has a broad range of enterprise legacy tech to premium high quality gross tech where the fanged names would fall in. you still have your speculative names. the big trade today was inflation risks cooled off now it is safer to buy those high-growth respected tech names and you would expect this trait every time the jobs number comes

out. the question is whether or not we have a positive surprise. emily: how much growth in jobs you see happening in the tech sector as we come out of the pandemic, knowing that tech in general, has fared better than basically any other sector? >> emily, i think what you just said is right. there were structural winners in tech from the covid crisis. that sounds crass but it is true. some of these companies have had higher growth rates, like the big super tech names that reported last week. i am not sure about apple, but microsoft, google, amazon, facebook, all growing faster not because of covid but the conditions around last year. they are going to be the biggest employers, hiring the most people, particularly amazon added 400000 and i think this number this year would be 300,000, different types of employees than other forms will be adding.

there will be a lot of employment growth and it is a good thing. emily: so we are coming out of big tech earnings. i believe we are almost near the end. generally, companies have performed well. if you look at the faang stocks, again, surprising us. it seems digital advertising is back. what are some highlights to you? >> what i find interesting is, digital advertising is definitely back and instead of a u-shaped or v-shaped recovery, internet advertising was a check mark shaped recovery. growth rates in this of temer corded and march quarter, or faster than what we had prior to covid. i think one of the big beings that is happen, to be one of the biggest insights i have had, it is the dramatic roast new business formation. we have had greater growth in new business formation in the last nine months that we have had in decades.

covid, unfortunately, destroyed small businesses. covid then created a lot of small businesses, and all of those paid their utility bills and started marketing campaigns. where did they start them in 2021? on google and facebook and those companies have been major beneficiaries and it is powering a lot of internet advertising growth. one company that did not have acceleration is twitter and that stock has on down. emily: what about amazon? they are moving prime day forward in order to possibly continue to catch some of the endemic amount. -- of the pandemic demand. the general belief is that as we get later in the air at the year over your comps will not look as good. what is your outlook? >> they are entering tougher comps. what is interesting about guidance -- amazon, they gave guidance for june and the market new march would be strong. the question was the june quarter outlook? ebay gave guidance that says now

retail sales would declined year-over-year. amazon is saying they can sustain the same growth rate they have had pretty covid and they will grow faster even on tough comps. that tells you how much of a structural winter they have been. in terms of stocks we have these they get cap blowout earnings and the stocks did not really move. to me, i think the market is waiting until we can focus on 2022. right now this is the pgp quarter. because the comps were so -- this is the peak quarter because comps were so easy last year. emily: mark, i have to jump in because we are watching a press conference at the white house and this is president bidens job cabinet speaking to reporters on the back of the disappointing jobs report. they have just come out of a meeting with the president. and his jobs cabinet we have transportation secretary pete buttigieg, marty walsh. secretary of labor jennifer granholm, secretary of energy,

commerce secretary marsha five in housing and urban development. this jobs report huge for the markets today, one of the biggest misses in decades. mark, when something like this happens, it is not just a mess but at big and unexpected miss, does that cause a greater feeling of unsettled across the industry? i mean, no but he likes surprises and i wonder if that makes companies in general question the risks they are taking. >> i think you're right, emily, and i'm sure it does. this kind of volatility is hard for business planners to figure out what their capital extent at should be, what their hiring budgets should be. it is just one data point in these numbers can be score from time to time. i think -- can be squirrelly from time to time. the overall read is demand is recovering. even some of the weakest part of

the economy, hospitality and tourism and automotive, those areas are recovering. the question is just the pace at which it recovers, not whether it is going to recover. yes, there is uncertainty, but the general direction people agree on, that we will have increasing recovery through the air. -- through the year. emily: i wonder if tech is in a unique position because you are seeing more copies allow people to work from home. a big concern is when there is a return to the office some people what i want to return to the office. google looks like they were going to take a stricter line but came out this week saying, we are going to let employees work in a hybrid mode. mark zuckerberg has embraced this idea. how does that change the drops dynamic for silica valley? -- how does that change the jobs dynamic for silicon valley? >> a real direct insight is, silicon valley as a geographic center, may become less important, if employees can work remotely. that does not mean they can

negate the san francisco to palo alto commute. they can think about a boise to palo alto commute. you can now, these jobs can be much more remotely located than they were in the past. i can see that at some level reducing the appeal of san francisco, silicon valley real estate. i do not know if that is a good or bad thing, but i think it is the reality. especially the work from home and hybrid work from home or work from office as it becomes more prevalent. emily: mark mahaney of her car, always good to have you here on the show and i appreciate that wide-ranging perspective. we are inching back closer to a new normal. we have been listening to the white house. commerce secretary gina raimondo mentioned in the meeting with the president they talked about broadband and ships act -- and

the chips act. president biden's jobs cabinet speaking at the white house now. we will continue to listen into this press conference and bring you headlines as we have them. meantime, coming up, the expedia ceo, peter kern, on the positive earnings outlook amid the signs the travel industry is on a rebound, why he disagrees with airbnb ceo. this is bloomberg. ♪ >> cities will come roaring back, it is a question of opening and cities being able to be what cities were. it is not that interesting to go to new york if you cannot go to a restaurant or the theater or a museum. but when you can, it is new york. ♪ >> market round of his brought to you by interactive brokers. brokers.

emily: travel on the rebound. earlier i spoke with the ceo of expedia about the company's positive earnings results and why he thinks travel to major cities will come ringback. -- major cities and beyond will come roaring back. >> we are leaning into that. our hosts make more than they do on any other platform and since the pandemic started new hosts made more than $10,000. so that is really attractive proposition and when people understand our proposition it is not hard to get them across. we are just marketing more. we are getting. the message out more as we lean in more broadly to thevrbo brands and others around the globe, we have in getting share in our strongest markets and that is a virtuous cycle that gets us more hosts because they

can monetize the properties better. so we are leaning into both sides of that. so far, so good this year. emily: peter, everyone wants more color about how the competition with airbnb is shaking out. at this point how big is vrbo, as a total piece of the overall expedia pie? >> we do not break it out because, frankly, we have a broader vision for it, which is not that it remains a standalone brand that we continue to drive vacation rentals through all her online travel brands and through all our be to be partners around the globe. our vision is we are going to drive vacation rentals through all of those touch points. by doing that, we will have reached that nobody else has, in terms of how they can drive vacation rentals. so that is our vision for it and why we do not get too caught up breaking out vrbo. vacation rentals is a strong part of our business and certainly vrbo has had a great

year. as we evolve the product and enable vacationers to vacation rentals on our platforms and drive-thru rb to be partners, that is going to open up a larger universe, and something exciting i think no one else can provide to a homeowner. emily: you are seeing a rebound, had beaches, outdoor destinations. when do cities come back? when does international come back? brian chesky, 8 -- the airbnb ceo is adamant that travel to national parks and regional destinations is here to stay. >> i love brian but disagree with him on this. i think cities will come roaring back. it is just a question of opening, and cities able to be what cities were. it is not that interesting to go to new york if you cannot go to a restaurant or the theater or a museum. but when you can, it is new york , and new york announced their

opening and a couple of weeks which is exciting. chicago is talking about the same. hopefully the major cities of europe will be open. i think it is a question of all the attraction of those places coming back, and the openness, and when those are open, people are dying to go to those places. i'm sure you have many friends who would love to back to europe, not necessarily to go to the countryside but to go to rome, or paris, or london. so i think that will be true. i think national parks are great and i go to them. but i think people know about national parks. and i think people will want to get back to cities. so i think it is a question of opening, a question of comfort. and some of them will be back soon. miami is a big city and it is packed right now. but new york, chicago, san francisco, places like that, seattle, where i am, it will take longer. once they open, i think people will come roaring back to them. so i'm excited for that and that will be the next leg of our recovery journey, major cities

around the world, and international travel open again. emily: when we last spoke, business travel was the one big? you still had. what that recover? you are selling our corporate travel unit two american express. what business travel activity are you seeing and what you think happens to business travel in the end? >> yes, well, i have said all along, i think business travel will be back. i've done interviews where i said as soon as the first salesman gets on a plane and goes and sell something, that the one who stays home did not, we will see everyone back zooming around the world. i think that is basically true. we are planning, potentially, to sell our corporate business. but that is really an investment in the future of corporate. we think that corporate combination makes the best company in the corporate space we can be part of and an owner of. and by doing that, we civil if i our own company, so we can focus on our core businesses, empowering be to be customers,

and empowering our b2c brands. rb to be as this is a big push for us and this is a big push for art -- big addition to our b2b business and this allows the corporate enterprise to focus on corporate clients. we believe they will be back and a thriving business again. it may take a little longer but it is deftly coming back. -- definitely coming back. emily: expedia vice chair and ceo peter kern. you can catch the full interview at bloomberg.com. a chinese tech firm pulled off at u.s. ipo this year amid industry crackdown, we hear from the cofounder of water drop, next. this is bloomberg. ♪

emily: waterdrop, a tencent backed firm, opened 15% in its debut -- 50% above its anticipated up -- 15% above its estimate of any. >> we are leading a chinese issue platform. we are so far the second largest online distribution platform in

china following [indiscernible] an insurance. the prospect of a company and strategy and gross perspectives. so we believe the stock price will reflect the potential of the company. we are confident in the [indiscernible] of the company. >> you are betting on the potential. how far down the road until you reach that potential? right now there is a lot of regulatory uncertainty in china in this space you do business. and, let's face it, you have not been profitable yet. >> i, i think the recent regulatory remediation in china is related and clear to [indiscernible] but we all right [indiscernible] type company. we operate our business activities in compliance with the regulatory [indiscernible] board. so i think the recent regulatory

change will not affect the operations of the company. >> how concerned are you the united states under the biden administration will continue their scrutiny of u.s.-listed chinese companies? and that there is always the potential, i'm not saying you're under scrutiny, but there is potential chinese companies could be investigated, and eventually delisted? that must concern you? >> we cannot comment on the u.s. regulatory process. but we are confident on the prospect of our business regime. and the future as a publicly listed company. >> when do you plan to be profitable? i was looking at some of the numbers. you had a net loss of 100 seven point -- $107 million in 2020, double 2019. you are going to business so there is more cost, but when can you tell investors as you go public, when a light to be profitable, sir? >> it is still early to predict

future profitability. but we believe we are on the right track toward achieving profitability as we formula articulate goals and strategies. emily: the cofounder of waterdrop, with stephen engle. coming up, elon musk and snl, we tell you everything you need to know. this is bloomberg. ♪

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>> i am elon musk hosting snl with musical guest miley cyrus. i'm a wildcard. >> your moms are not going to be here. >> forget what i said. >> mine will be good. emily: welcome back to "bloomberg technology." i am emily chang in san francisco. elon musk hosting snl this weekend with miley cyrus. musk asked for suggestions of

what to do it is sketches on twitter. joining me to discuss, ludlow -- ed ludlow, who i know will be tooted. the real story -- i know will be tuned in. the real story is doge watch parties planned for this snl. >> this is the least subtle walk up to it snl of all time. he tweeted multiple toy names -- multiple times, references to doge coins and all you have to do is look at a chart of dogecoin activity since elon musk announced hosting and it has been on an absolute tear. this is a cryptocurrency that started as a joke. what is important here and if you read the serious analyst's notes, you take this seriously. snl is broadcast to everyday americans and globally, so it is

putting this cryptocurrency into the living rooms of everyday americans, and it has elon musk at the center. emily: they talked about it in the promo, elon musk notoriously does not like rules and notoriously does not come up miley cyrus. i wonder what he could do that could surprise us. >> if you are an investor intesa let you are concerned. remember when elon did the joe rogan podcast, the following day tesla stock close down 6%. so there is a serious side to this, he is the ceo of an s&p 500 company. but he does not stick to the stripped. -- stick to the script. think about earning calls last year where he went off script. elon musk has a propensity to say what perhaps he should not as the executive of a publicly traded company. but he does not behave in a normal fiduciary or company way and that is what makes them accessible and why he has a cult following a why there is intense

interest in him hosting saturday night live. will he be any good? wait and see. emily: he tweeted again, 10 minutes ago. talk about the self-promotion that has gone into this. >> elon musk is an active user of twitter. he engages with quick cash tesla users and really understands -- he engages with tesla users and understands people he is talking to. and last year's filing they did not disclose how much they spent on advertising because it was negligible. he likes to put himself front and center. he has gotten in trouble with regulators and his own attorneys in the past but he pushes the boundaries of what a ceo is expected to do. what is fascinating, in 2021, look at the ceo of volkswagen and ford. how active are they on twitter now following his example? he change the perception of what the ceo should be. is he going to be a good tv host? i do not know but i will tune in and find out. emily: we are watching him

dancing now at some prior tesla event and it makes you laugh. he is funny on twitter and has good comic timing on twitter, but you think you can pull it off on the snl state? summit -- stage? some of the most subreddit actors go on the show and it is just ok. >> elon musk is a man of many talents and what he has achieved with spacex and tesla is incredible. on earning calls he does mobile from time to time at is not the clearest speaker. he is good at getting people excited in looking for the horizon. he is good at promising things. does he always deliver? some his timelines are off but we will give him the benefit of the doubt and he has miley cyrus to back him up. emily: we will be watching, along with a lot of other people. [laughter] thank you, ed, for that round up. how many times have you

forgotten the password and had to click reset, or tried and tried until you are locked out? google says it is on request to change that. the search giant announced they plan to move toward a password free future, where you will no longer need to worry about a series of digits and special characters, to access the company platform. but in the meantime, google plans to have every user used to factor authentication, unless you opt out, which means you will need a password and a code sense your emailer phone or device to login. joining me, google director of product management for identity and user security, heading this initiative. mark, there's no question, we are all tired of passwords. is a password-less future really around the corner? >> it really is around the corner. the stars are aligning now to get devices.

now everyone has a phone in their pocket that allows for stronger education then relying just on your middle name spelled backwards. emily: when we get to that future and often it is more complicated than your kids middle name spelled backwards, how will it work? how do we get rid of passwords altogether? >> how do we? sometimes you pluck out the 's' for $, if we are fancy. moving from signing in every app every time you need to access it, to setting up a device like your phone in your pocket, already locked down with your fingerprint or face. and then using that to securely authenticate the different sites. emily: so, google is in this moment, trying to get us halfway there. what exactly are you doing and how do you guess us to the final destination we all so desire? >> we are on a few steps of the

journey. the first part is, how do you sign into google? making sure that is absolutely secure. that is where the announcement now, that we are moving to automatically enroll people and a two step or two factor authentication, could really improve security and protection of your google account. the second part is, for other sites and apps to use, week have been heavily investing in making chrome, our web browser, and android, automatically fill passwords for you. and we have done that to iphones as well but if you install, your iphone. there, again, it suggests strong passwords and fills it in for you, combined, this means, you're in a better predictive space. and it should be fairly transparent for users. you should not have to worry about it and it should not feel painful or inconvenient. instead, the security works by default, automatically, on your behalf. emily: are there any drawbacks to goingpassword- less?

and to having this all stored in one central place? >> sometimes people think, do i want to put on my exit one basket? that is most -- all of my exit in want-- eggs, in one basket? you want to put them in the best defendant place and i think fort knox is a better metaphor. you can spread things all around but i think it is better to take a place where you focused explicitly on locking it down, with security. we are making your google account secure by default automatically with the strongest security available, then tying auto fill and other cap abilities to that. you have many layer's of protection that do give you the best, safest and streamlined experience. emily: mark, you have been working in this area at google for many years. i'm curious how you're looking at the cyber landscape now.

we have seen the most pernicious hacks in history. attackers are getting faster, better. how would you describe the threat level right now? >> the threat level is absolutely elevated. there are more and more people trying, more and more about actors. and, frankie, there's more to lose, as we bring an increase sling amount of our lives -- frankly, there's more to lose as we bring more of our lives online. hacking can be more dangerous and more pernicious. that is why we focus on what are the places most people are vulnerable? and how to retake the biggest chunk out of that? there are a lot of headlines about these scary what they call zero day attacks, where 70 can go right after the cpu in your computer. those are real and scary but far more likely and dangerous in aggregate, is going after your authentication. so, fishing, hacking into 70's accounts and a person aiding them, being able to than access

all the materials as if you wear them -- phishing, hacking someone and impersonating them, being able to access materials as if you wear them. emily: that u.k. releasing information about the russian foreign intelligence service and their hackers breaching emails to find passwords and information to infiltrate organizations. what is google doing to protect users against this? >> there again, it is about taking secure credentials and locking them down, and an explicit vault designed for it. the google password manager built into chrome and android available on ios, gives you strong security, that central place. you can also use that will security check up. g.co/securitychecuip -- g.co/securitycheckup.

that puts people into the best protected place where there is less surface area for attackers to go after emily: meantime, google with other companies is becoming more flexible about letting employees work from home and work from anywhere and i know this is a massive security challenge for all companies. what is google doing to protect its own employees, and all of this critical and privileged information that you have? and can google protect all of that information as well, when employees are dispersed? >> that has been a priority for us for some time. we have an initiative at google recall, beyond course -- at google that we call, beyond course. at many years ago it moved us

away from a vpn assuming people would plug into a cable in the authentic -- office building. the thing we care about authenticating is the person and device. we have packages to sell to enterprises and businesses to allow secure connection wherever you are in the world. we already did not trust the network so when the coronavirus pandemic began and people working from home, it is relatively easy for us to do that, in part because we rely on technology like security, something we helped invent many years ago, that provides the strongest protection against password phishing, and credential attacks mentioned earlier. emily: google director of product management identity and user security, i cannot wait for that myself. thank you. coming up, blue apron milk kit delivery, -- meal kit delivery,

wowing investors after its latest. this is bloomberg. ♪

emily: meal kit pioneer blue apron reporting a strong first quarter this week. as vaccines roll out and diners roll into restaurants, help long will the home cooking boom last? the blue apron president and ceo joins us now live. linda, you are seeing interesting trends. we are in the middle where we are at home and starting to venture out. what trends do you see and do you expect to see in her business, as result of this new transformation? >> i think that is the fun part

about watching the data on this. we clearly see as different states open up and travel trends are happening, we can watch our own data and understand exactly what behaviors are driven by those moves. a big part of what we have seen is, while there is as you would expect when people travel or start going out again a little reduction in order rate, we are seeing strong value metrics we put out in this quarter, that have been putting out quarter after quarter as we have grown our average revenue per customer, 22%, year-over-year, and and 212 $330 per customer, those patterns are holding steady -- and in the first quarter of 2021, 300 $30 per customer. -- $330 per customer and the first quarter, those are holding

steady. it is on the backs of a higher value customer then you are looking at before because we try to engage people with the valuable product. emily: interesting and you are adding new products. you can add an appetizer, dessert or side to a male. -- meal. you have a partnership with the famous chef from my home state of hawaii, roy yamaguchi, how much do you think these things will drive the business? >> we said early on we were going to focus first on the evolving the product to drive value to our customer base. we want to make sure for every customer we provide maximum value to them. that they will stay around longer and we can engage him in multiple products. then we can build marketing and growth engines for acquisition on top of that. because it becomes more efficient. honestly, these products are the result of listening to customers and what they want, and what they expect to get from blue apron. the butcher bundle and being

able to provide proteins to grow for summer, or elevated burgers. people love our burgers and now they will have the restaurant quality choice of a burger they may want to have at home on the weekend, all those things further engage customers, and help them find different things each week that interest them, something that keeps them coming back for more. emily: meantime, i know the supply chain has been disrupted and a fascinating study and experimentation. are you seeing an increase in raw materials, and foods that make this happen, and how do you deal with that going forward? >> we are seeing a little bit of a balance now. we continue to see the logistics chains are stretched so there are cost fluctuations. but again, one thing that makes blue apron unique is we have a direct model so 70% comes direct from the producers.

we source very high quality ingredients, so we are sourcing from a very elevated supply chain. and we have really long and good relationships with suppliers, so we are making sure we stay really close with them and manage those relationships really carefully. we have been able to manage those two things to make sure we can still deliver very high quality at a reasonable value. i think the more interesting aspects of it is because of the tight relationships with suppliers, we are able to reduce food waste, using blue apron boxes. a 25% lower footprint than going to the grocery store. we keep food waste out in our facility and in your home so we manage the supply chain more tightly and keep prices reasonable. emily: interesting, fascinating to see all the new moves that you are making. the president and ceo of blue apron, could have you back here on the show. coming up, recent sports betting

legalization in michigan and virginia, helping to boost first quarter revenue, next. this is bloomberg. ♪

emily: sports betting company, draftkings, raising revenue guidance, the betting operator announcing a new social offering for bets. caroline hyde spoke to the ceo asking houses to handle the growth rate will be as the world returns to normal. >> i think, you know, we are seeing incredible momentum in the business now, and sports back in full swing is driving a lot of that and i think general momentum in the industry is, we have a sports calendar next several months.

a lot of the nba and nhl pushing starts back a little bit this year means we will be playing playoff games into the second and third quarters so it should be an exciting next few months. we also have a lot of live legislation. two dozen states are considering and another for are considering legislation so a great mental on that front. -- momentum on that front. romaine: we have in keeping an eye on states on the progress they have in making. word you see how soon we get some legislation signed into state law? >> it is hard to at what pace states move. most of them are done with their sessions around the middle of the year. there are several that do have sessions that extend to the rest of the year, including ohio and illinois. so those might be later.

i think for example a lot of things in illinois get done ahead of the budget, which i believe is in may. so there are natural points at which we may or may not see something happen, but very hard to predict timing. i do feel very excited that several states have moved forward with legislation this year. those include wyoming, arizona, new york and maryland has passed a bill that is awaiting the oven or signature with good momentum -- awaiting the governors signature, good momentum in places like louisiana. taylor: what do you think investors are missing today? >> i cannot comment on how short-term trading in the market goes. every time i try to explain it i find i am wasting brain cells. we continue to focus on making sure we have a great long-term strategy, creating a great product and experience for customers, executing really well

, and consistently delivering or overloading on expectations we set. i think companies that do that generally perform well over time , and i think you drive yourself crazy trying to figure out what drive something up or down one day. you know we had a pretty good earnings release. i cannot really find anything i would point to we were not excited and thrilled about and i think we beat expectations. the market is a funny thing. i have found it kills brain cells and distracts from the most important thing, focusing on the long-term and on executing consistently bidding expectation. caroline: your shares are up 200% in 2020, so we will look at the gyrations for the day or year. in terms of the growth trajectory for you and whether it is organic or inorganic, you have done some mna, blue ribbon software. are you still going to be making purchases? >> we opportunistically evaluate

things and there is a lot of activity in the market now. we feel very good we do not need to do anything. so it really is about, if something interesting fits strategically, at the right value, comes along. if that is the case i think we will be opportunistic, and if not, we will be patient and continue to execute against a disciplined strategy of going after value where we see it, and not doing things we think are not at the right value or do not fit strategically. like i said, if you look at year end change ago, we felt we needed to own our own sports betting technology, that was a must have. that is why we did the acquisition of sp tech early last year. i do not think we feel that way now. i think we feel we have all the pieces. certainly there are things we could have a build versus buy analysis on but i do not think there are things we feel we must acquire now at this point. emily: the draftkings chair and ceo and we will hear more from

him and other boston area business leaders including those in biotech and life sciences next week in our boston special, happening tuesday. do not miss it, right here on "bloomberg technology." that does it for the show today. up next, bloomberg wall street week with david westin. ♪

be careful david: rebounds, earnings beat. now we have to worry about the pressures that come with that. this is "bl;oomberg wall street week." i am david westin. investor sam is out seeing inflation in ohio's business is and he is worried -- inflation and all of his businesses and he is worried. >> i do not see what will make a temporary. david: tms ceo mary barra tells us how she is scrambling to get chips into car she wants.