announcer: from the heart of where innovation, money and power collide. in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco and this is "bloomberg technology." media deal monday. at&t will combine with discovery.

in a 43 billion dollar deal. we are going to hear from both ceos ahead. plus, discord started out as a way for video gamers to chat online. now the platform has 150 million active monthly users using it for everything. from musicians chatting with fans to kids doing homework with , friends. i will talk with co-founder and the ceo who turned down a $12 billion offer from microsoft. the plot thickens in the divorce of bill and melinda gates. it turns out microsoft investigated bill gates involvement with an employee almost 20 years ago. we will have the details, plus what it means for microsoft and the gates massive philanthropy efforts. all those stories in a moment, but u.s. stocks falling monday as jitters over inflation linger. bloomberg has the story. walk us through the day. kriti: red on the screen. i am on a loop. tech underperformance is the story of the day is what it

seems like. you can see on the board behind me, the s&p 500 is down in the red. materials in the green. that is the tech underperformance, that really pulls it down. we have seen that it gets even worse as we get to the semiconductors, down nearly 1%. can't even blame yields because they rose to two basis points. not enough to spook investors the way we saw it back in february. i do want to bring to your attention bitcoin. that seems to be the other side we are paying attention to on the seven day timeframe. it seems to go lower and lower and lower. this has something to say because bitcoin has become a little bit of a risk sentiment indicator. not only has it been trading in line with technology stocks, but it's taking crypto stocks. lastly we have to get to the big , story of the day, which is the bloomberg scoop you mentioned. at&t and discovery are green on the session in the morning, but then turning red. discovery was up at 20% at one point, now down 5% on the day. emily: thank you so much for the roundup.

appreciate it. more on that big, megamerger today with the media assets of discovery and at&t dominating the headlines. my colleague david westin spoke with the ceos of both companies to talk about the deal. david: we looked at what john has king kong, godzilla, the , incredible brand of hbo. sex and the city, game of thrones, superman, batman. we started to think about it as a combustible combination. we got some incredible ip that people will pay for before they pay for dinner. and we have a bigger library than netflix with content that people love. whether it's oprah, chip and joe, food network or the bbc content, planet earth. so i think this is just a way that assures that warner, probably the top of the pyramid in quality ip and quality

talent that is loved all around the world, together with the content that we have, we are the largest global media company. we have more global ip than anyone else. when we come together, we think it makes us a real formidable, global ip business to compete with the best in the business. david w.: david says you are at least in the same sort of business, even if they are different ends of the business. but you also had a change of heart. there was a major strategic decision made to move into the media business as a telephone company. now you are reversing that. you are going to go back to your roots of the telephone company. let me understand, looking back at it now, was the strategy wrong, or did something change? because, let's be frank here you , are leaving some money on the table. there is some value being destroyed. john: i would probably dispute whether there is value being destroyed. i would say we have managed to increase the value of the assets we bought by maybe 30% if you look at that cash we are taking

out of the business, the assets we sold in the effective value of this transaction and some reasonable assumptions of it trading and how it will trade in the multiple. david w.: i want to understand that. i think you bought it at $85 billion and this is $43 billion. you are saying you got the difference in cash? john: we are getting $43 billion in cash and 71% of the equity of the new business. there are two parts to that. the point of view that i think i would have on this is the team has done a remarkable job of pivoting the asset to be effective in the direct to consumer world. that is really the value that i think david and the rest of the industry see right now. emily: at&t's ceo along with discovery's ceo will run this newly merged entity. joining us to talk about the impact on the streaming industry is the senior equity analyst in

the media and video games unit at morningstar. neil, this is quite a sudden turn for at&t, that at wanted to one point stream all of this video on its customers cell phones. now, merging cnn, hbo, oprah, hd -- hd tv, what is your take on this deal? neil: i think it's a great deal for discovery and the shareholders, at&t shareholders. i think they are getting back to their roots as a telecom company. we have seen verizon do something similar. i think if you look at something like comcast, the difference with nbc universal and warner media below is something that nbc universal, comcast got that at a discount building it back , up and it's at a high level. warner media was being pretty well-run prior to at&t. i think there is a cultural disconnect. by spinning out the assets and combining it with discovery, i think they are mocking some of

the values that have been hitting in the at&t wireline wireless business. emily: let's talk about what david zaslav said. try to keep talent on, including jason, who has been running warner media. what do you expect and what do you think zaslav should do in terms of the more premium assets and more premium executives? neil: i think he has to keep some of these guys on. i won't say who specifically, but warner media has had a ton of trail in the last few years and it started to save lives. we have been seeing positive results in some tailwind. they have been talking about it and i think it will be tough with some of these people around. it will be people on both sides of this who think they should be running both sides or having a bigger say. so we will see how well david can hold onto these assets, particularly the next year as we wait for shareholders.

emily: what do you think the biggest challenges are going to be? a lot of these folks signed on thinking they were doing one job, and now it has changed again? neil: when you are looking at interactive businesses it does , not seem to make sense to run discovery plus and hbo plus as different businesses. so there will be a lot of people who will run the major project, whether they are at the company, hbo or more warner media who may find that their job is not as good as it was. i think another challenge is going to be getting these two companies together. while they are both media companies, they have had great differences, they are -- differences, discovery is very well-known for sticking close to the bone, while warner media has gone through a number of layoffs and cost cuttings because of the cell phone company. it is a old-school hollywood media company. we think there could be some growing pains there as well. that will be one of the keys.

david has done a great job with discovery. i expect we will have similar success with the new company. emily: interesting. megamerger indeed. neil macker of morningstar. appreciate your analysis. one we will be watching. meantime, coming up, the social network favored by gamers but used by everyone from musicians to teenagers doing homework. this is expanding to break out of its niche and draw an even more users of all backgrounds. the cofounder and ceo joins us next to talk about what is next after turning down that 12 billion dollar offer from microsoft. this is bloomberg. ♪

emily: discord was founded in

2015 as a way for video gamers to chat with each other while will playing. it has since become a hangout spot for just about anyone, including musicians meeting the fans and friends doing homework, or even watching tiktok together. user ship doubled last year during the pandemic locked and discord has 150 million monthly active users. it is also testing a way to let users sell tickets to virtual events, opening a huge new revenue stream. this after bloomberg reported that discord turned down a $12 billion takeover offer from microsoft. joining us now to discuss is discords cofounder and ceo. thank you for joining us. you started discord after a video you were working on did not become a breakout hit, now it is used for all kinds of reasons. start us off by telling us what is most popular on discord, and

what trends you are seeing. jason: thank you for having me. six years ago we launched discord because we wanted to create a better way to talk and hang out with our friends around playing video games. over the last three or four years we have seen people take the service and begin using it in so many different and interesting ways. today people who play video , games is a smaller percentage of the time spent on discord. more of it is people hanging out with their friends, study groups are popular, hosting book clubs and karaoke nights, it's a wide range of things that people are doing that give them this sense of belonging because they can spin quality time with people that they care about. emily: 80% of your user base is outside the united states. tell us about the demographics. are they mostly younger users, and in what countries? jason: and discord, it turns out we have a very private viewpoint. so wedo track demographic data

about our user data. we run surveys, so i can show what we get from survey data. people tend to skew younger and the 13 to 25 range. people who have active friend groups. as you get older, into my demographic, it is more folks who have extended groups of friends who have moved around, or they don't see them every day as much as they would like. but it's people of all shapes and sizes that use discord. emily: you are now, in terms of revenue streams, testing ticketed events, partnerships with labels, and you are bringing in more than $100 million in revenue. talk to us about the revenue streams and how you plan to grow them. jason: the way we make money is by selling a subscription service called discord nitro. you cost $4.99 or $9.99. what it does is it makes your experience more fun. and discord there are no ads, we don't make money selling ads.

you pay money for the subscription service and you get to do things likes an animated emojis or customize your profile. we just announced we are wanting something we call a staged discovery and paid ticketing. what's interesting about that is, as we have seen this shift from people playing games and doing all different things on discord, people are hosting bigger events. recitals, things like financial literacy classes and people want to charge for access to that. we will create a place where people can go to discover the interesting conversations happening in the public community on discord, and allow those communities to charge for access. emily discord incorporates -- : what makes it unique is it incorporates video, audio and chat and text. talk about what differentiates discord from let's say a clubhouse or twitter spaces. jason: there are a lot of apps that have these different

spaces. but what makes discord really special is how we bring it all together in a unique focus. discord is very focused on group communication. on discord you create a space, which we call a server, you invite people in, and you create this invite only environment. let's say i invite you and in five or six of our friends. most people have a group from six to 10 friends on discord. it allows you to organize your conversations in different text channels. you can have different topics channels like scheduling here, general conversation here. it prompts people to talk more because there are places to put these things and you are not stepping on each other in one long group thread. and then we have voice and video channels, which act like conference calls. if you and i were having a conversation on discord and a third friend who already was invited into the server saw, they could tap on the voice channel, pop in and it would be

, like they were walking into a living room and we were both talking. you have these serendipitous moments where you can run into your friends online. it's very unique. it creates a feeling of place. emily: now the discussion of meme stops and gamestop has been big on discord. they had their own server there, at a point you actually banned the server, as i understand it, not for financial fraud or reasons related to that, because of hateful lame grades, -- hateful language, misinformation. what's the status of wall street bets on discord now, and retail trading discussions in general? jason: it's really important for me to say that we have a zero-tolerance policy for hate speech and extremism. when we identify these issues, we take action. which as you mentioned, is ended up what has happened in this moment which what you are referring to. my understanding is they have a server that is live, it's well moderated and it's an interesting place you can go to

have conversations about stock trading. generally speaking, there are two main ways that people use discord. smaller groups are study groups, playing games, hanging out with friends. those are six to 10 people in a server. the overwhelming majority of people in discord are those people. 80% of our groups are like that. the remaining 1% or 2% that we call these public communities, where you can go and discuss and meet with people around the interest that you are excited about. whether it's stock trading, learning a foreign language, all sorts of things, so there are many conversations happening. we are very excited people are finding longing connections and can learn through those topics. emily: bloomberg reported that microsoft tried to buy discord for $12 billion and that you rejected the offer. everyone wants to know what can you tell us about what really happened, why you turned that down and what's next?

jason: what i can say is we got numerous offers, but i cannot, -- i cannot, on anything specifically because we are on strict nda. what i can say is that our business is doing extremely well. discord nitro is very popular. last year our user base double in growth through covid, but our revenue tripled. we feel like we are positioned to create a next-generation communication service where people can really come together and find belonging. this trend of people spending more and more time online has been going on for a decade. it accelerated last year, but i think we all expect it to continue. people want to spend meaningful time together. so we are focused on our future and creating space for people to find a longing so they can have more fulfilling lives. emily: with the world coming out of lockdown then could that cut , into some of the time that discord has racked up through

the pandemic? when you are not just competing with tiktok and netflix, but also restaurants and movies, and just getting out into the world. jason: i plan to spend a lot more time outside very soon. the beautiful thing about discord is we are not a scroll forever business. unlike other social projects, there is no social feed, there is no way for things to go viral on discord. it's about conversation. for us, i fully expect that people will go outside more and will spend less time using all internet services, including discord. but when you come back home after school or work and want to check in with your friends, discord will be there to provide a place for you to find belonging and comfort no matter where your friends might be an idol that that will go away. emily: jason, ceo and cofounder of discord, we will keep our eye on you. thank you for joining us. coming up, as bill and melinda's divorce proceedings proceeds, it

turns out that microsoft investigated bill gates involvement with and employee back when he was ceo. more on that next. this is bloomberg. ♪

emily: more details are emerging around the high-profile divorce proceedings of bill and melinda gates. we know the microsoft cofounder was investigated by the company for his relationship with an employee. i want to bring in our bloomberg three reporter who has been following this. the investigation dates back , i believe, more than 20 years ago. what exactly did the board investigate and what did they conclude? >> the relationship is one that happened around 2000 from what microsoft and from what the representatives have told us.

the investigation started in 2019, which is when the person involved in the relationship felt the need to bring various aspects of this relationship with gates to the attention of microsoft and the board. in that investigation started, was never concluded. while it was ongoing, bill gates decided to step down from the board emily: and citing non-reasons. -- and citing non-reasons. emily: microsoft gave us a statement saying they received a concern in the latter half of 20 that bill gates initiated a relationship with a company employee in the year 2000. a committee of the board reviewed it and conducted a thorough investigation and provided an extensive report for the employee who raised that complaint as well. we also have a statement from gates himself, or a spokeswoman who said there was an affair almost 20 years ago, which ended amicably. his transition off the board was

in no way related to this matter. what do you make of this given that there seems to be more? ian: you are absolutely right, there have been lots of reporting around this from other news organizations. which has been portraying various aspects. that even when you take these statements at face value, they don't quite match. the timing appears to be convenient, and the investigation wasn't concluded, so there are huge amounts of speculations about one of the world's richest men till out there, and it will probably persist and impact his legacy. emily: we have to point out that what might have been acceptable and not exclusively against the rule is a couple of decades ago is not acceptable. what could this mean for microsoft in the gates foundation where bill and melinda said they are planning to continue to work together?

our ian: microsoft is the latest in a number of large companies that are dealing with a phenomenon that you could argue, well, it was ok years ago, or not explicitly against the rules. since then, the rules have changed. more importantly, as you wrote in your book, the expectations and behavior, corporate expectations for, particularly men in power has changed and should have changed sooner. we are dealing with the legacy -- with another example of that, regardless of what the material impact it had on the foundation or on microsoft, this is going to be lingering over an individual who is still important. emily: we are certainly going to continue to work on our reporting here and get to the bottom of it. bloomberg's ian king, thank you so much for your reporting there.

coming up, apple has started to present its case in the closely watched antitrust trial with epic games. we will have an update for you, next. this is bloomberg. ♪

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emily: welcome back to "bloomberg technology", i'm emily chang in san francisco. about a quarter of coins value has been wiped away in the span of a week, and a lot of it has to do with one person, that is elon musk. kriti gupta has more on the volatility surrounding the crypto space. elon on the receiving end of some not happy twitter followers, not happy about the latest tweets. kriti: the insinuation that tesla could have sold, or will be selling their bitcoin holdings not doing great for bitcoin over the weekend, but that is just the cherry on top

of a not so great sunday. really this idea here that bitcoin has been on a negative trip -- downtrend for seven days. a lot has to do with elon musk, a lot has to do with broader risk. you see the straight shot down and it's taking its cryptocurrency stocks from companies like crypto miners that a lot of people hop into as exposure to bitcoin. in the stock market you see a lot of those names down, but even names like coinbase. if you look at several of the stocks that are crypto names, you have them here. coinbase is down 3.9%. only half the drop. galaxy digital down over 7%. once again, those crypto stocks are not doing so well in line with that drop. let's dive deeper into coinbase. it was not so long ago where we did see the ipo. since then, we have not seen much progress. the question is, does coinbase actually improve assets or does bitcoin become more apart of the

mainstream media, mainstream investments, or is the downturn something that is here to stay? emily: we will be talking about that all week, i am sure. bloomberg's kriti gupta. from the jokes surrounding dogecoin and tesla, elon musk tweeting the company did not sell their bitcoin stock. leading many to question how serious he is about crypto. the ceo spoke earlier with bloomberg about crypto volatility. take a listen. >> bitcoin will be between 40 and 55,000 for the next chapter before a kind of builds up enough new momentum to take out the 55,000 and in the year much higher. >> how concerned are you about the short term volatility from elon musk? >> elon musk is an important figure in american business. certainly in the global retail world he is a bit of an icon. he was great for crypto when he was positive for bitcoin.

he had caused some issues. i think if you teach -- take elon at face value, what he said was he worried that bitcoin gets more and more electricity, it could have a negative impact on -- that is true for every industry. so i think you will see a response from this industry like you should see a response from every industry to say, in this gap of time, before all electricity is green, i think it seven or eight years away, we should do something to offset our footprints, and that's in banking, crypto, tech, industrial. >> is it problematic that one of the hottest currencies is a joke, and elon musk, who is the sort of face of it all, is essentially whipping people into that one and sort of multiplying the jokes. you have other people talking about other jokes and does it

make it harder to basically make the case that this is a serious industry? >> yes, is the answer. i don't want to discredit the doge community or any of these communities. what you are seeing is a response against the monetary policy of the u.s. in the world, and the frustration people have had with this system. in this young generation who said we can band together and create our own way of investing. we tried to steer our clients away from projects that we don't think have long-term sustainability, but it proves something that communities can band together. the world has become tribal. that's not necessarily a good all thing. if you go on crypto twitter you can see how tribal it has gotten. one of my buddies made negative does comments -- doge comments and he got six death threats. that's not good.

but i do think, let's not -- with the trees. there is a huge revolution going on lead by serious people who are trying to read though the national market infrastructure. emily: ceo of galaxy partners. we will continue to follow a -- what happens with crypto throughout the week. meantime, it is week three of the high-stakes courtroom battle between apple and fortnite maker epic games. this week it's apple's turn to prove it is not an antitrust violator with expectations that the tech giant will bring in its most powerful spokesperson, that is tim cook, to testify. bloomberg's mark gurman has a latest. mark where are we with this , trial? mark: we are in the final week of the trial. today we heard the former vp of senior marketing and now an apple fellow in charge of the app store testifying to apple's business practices, why the app store operates the way it does, and its interactions with developers. all developers. we have gotten a few interesting

staff about how the app store is run. that there are 200 total million apps. how much it cost them to run their annual development. emily: talk to us about the cases that have been made so far. you it sounds like you have come will out feeling like epic has not really proven its case. long mark: i'm not a lawyer or anything, but i have been listening into most of the trial on a daily basis, and i have simply not heard any compelling arguments or a seriously compelling argument for how apple is doing something, not necessarily wrong, but how it's hurting offers on all levels. you have heard microsoft testify, nvidia testified. i don't think epic has wrought smoking guns to the table about apple purposely trying to crush developers. personally i think apples fees will are high for the year 2021, given the economies of scale may

be 30% where there were very few you be 30% where there were very few apps on the store. now that 30% is generating 20 billion in profit per year and spread out across 2 million pretty apps. that 30% is worth more to apple than it was way back in the day. i think that needs to change. and they echoed that when apple launched its program for the fees to generate under per million a year from 30% to 15%. he argued for it to be below as 15%. i think it's something apple recognizes in some respect. regardless of opinions or regardless how bad epic stinks apple behaves, there is a contract at stake. the first thing you need to know about the legal state is that if about all parties have signed it and there is no contractual issues, it is pretty hard to argue with that piece of paper with signatures. and that's what apple has with epic at this point. emily: epic's ceo tim sweeney was the first to testify. we are expecting tim cook to

testify possibly before the end of the week. what do you expect to hear from tim cook, based on what he has already said in statements that apple has made about this? mark: i did not think tim sweeney's testimony at the beginning of the trial was particularly effective. it sounds like he had not fully woken up yet that morning. he was also first to speak, so he was the first person that the judge heard from. whereas, tim cook will not only be apples closer, very likely the closer for the trial. he will be the last major witness to speak unless there is some procedural stuff tacked on the end. the last message that the judge will be left with is the message from tim cook. and what you will hear is how the app store has benefited the economy, how much money the app store makes. not for apple, but for third-party in small developers to help people through coronavirus. you could expect to see tim cook play up the valued aspect or how it generates money for the greater economy as he normally

does, stepping away from whether or not apple's practices are an antitrust violation or not. emily: much more to come. we will be following it every step of the way this week as the trial continues and concludes. bloomberg's mark gurman, thank you so much for your analysis there. coming up, like many tech companies, salesforce is preparing for the return to the office, but for some of its employees it is stepping fully inside the building for the very first time. we are going to hear from salesforce copresident and coo bret taylor, next. this is bloomberg. ♪

emily: when it comes to working from the office and working from home, companies are taking different approaches. monday, jp morgan reopened its offices across the states. tech companies seem to be all over the map when it comes to the directions they will take. some companies like jp morgan you are preparing for companies letting just for employees to return to campuses, others say they can continue working from home. others are doing a mixture of both and figuring it out later. as part of our segment, i caught up with salesforce copresident and chief operating officer to talk about what the future of work would look like. bret: i think the future of the work is flexible. whether you are trying to find a lower-cost place to live outside of a city, or you are parents like you are and i'm, enjoy , those afternoons with our children. i think the expectation right

now from every single employee at salesforce is some flexibility. we don't know what the future looks like, but we know the aspects of this year has transformed and shortened our commute, it has given us more time with our family. on the other hand, i think people are really sick of their -- of being in their offices. we surveyed our employees and in the early stages of the pandemic, no one coming into the office is well above 75%. people want that connection. we are reopening salesforce tower in a week. we are starting off with a small group of vaccinated people who are raising their hand to volunteer, but i'm hopeful we will open this up more gradually looking forward. without question, it will change the way we think about real estate and change where we hire from. hopefully in a more exclusive way all around the world. but i think our creative teams are often in the same place. there is the casual conversation you get in the hallway that is hard to reproduce. i think when i look forward, the

people saying it is all distributed and all in the office is all too simple. how do you re-create a culture that is flexible. how re-create a place like this at all times? i joke that flexible work is in big. individual decision is a team -- isn't an individual decision, it's a team decision. i think there will be a lot of software that helps companies go back to the office and flexible ways. and i also think we have to see where people's expectations are in the other side of the pandemic. i think it's hard to predict. emily: even my children are familiar with the salesforce tower. it is san francisco's largest, private employer. how are you thinking about it towards placing jobs, given that many people have left the city and don't want to come back to the city. do they all have to be in california or the bay area? bret: i am really excited about the bay area. i'm excited about all of our hubs, like seattle, new york, all of the cities will continue to be important hubs for

salesforce. as an oakland native, i am never leaving the bay area, i love it. but you bring up a great point. i think we can recruit from more places. when i look at what is flexible work afford for forward leaning companies, can you drive greater quality and representation to your employers, because you don't need to recruit from one metro area, you can recruit from areas with more diverse workforces. can you find more talented people who might not have had the means to move to places like san francisco. i don't look at the expense of san francisco, we are investing in our hq and we are a san francisco company through and through, but i think what we are looking at this as how can we create a more powerful and more inclusive and talented place. i think it's really exciting. emily: it has been speculated that you are the heir apparent to the ceo job at salesforce?

is there truth to that? bret: i cannot comment, but just a couple of weeks after i sold my company and came to salesforce, i can't say i imagine sitting in this chair as coo. it has been the most fun time of my career. both my relationship with mark, which is amazing as a mentor and a friend but also just being up , this company right now. to be able to provide digital technology to so many companies who actually need a right now is the most privileged position i could be in. both as a designer of software, but also as someone who has build great relationships with customers. i am really happy. we cannot comment on the rumor, but i am happy with the job i'm at right now. emily: we shall see, salesforce ceo there. you can catch the full interview at bloomberg.com. in the world of big tech next, amazon is under fire after an employee testified that he saw

guards use keys to open a box in a recent union election. joining us now is bloomberg 's spencer soper. what happened? spencer: you guys remember that union election in alabama and the union lost, workers voted overwhelmingly against forming a union. but the retail wholesale department store union that organizes campaign is accusing amazon of all kinds of misconduct around the election to try to overturn the results. in this mailbox that was installed right when the election began has really emerged as a central figure in this. and the union is making allegations that even the mere presence of this mailbox under the surveillance of amazon security cameras, coupled with a lot of encouragement from amazon managers to utilize the mailbox to vote could constitute an atmosphere of surveillance. and that is not a good thing in a union election.

you are not supposed to have that. emily: has amazon responded to this particular part of this particular allegation? spencer: in terms of the mailbox, they said they wanted to increase turnout. ordinarily, these types of elections would happen at the workplace in person. people go to work and vote in person. but because of covid, that was changed to a mail-in election. no changed to a mail-in election. and generally, mail-in elections all right have a lower turnout. so amazon said that it wanted this mailbox to make it easier for employees to vote, but it has made things complicated in terms of -- and made it easier for the union to attempt to meet this threshold of a perception of surveillance since this thing i was near the front door of this facility where there is security cameras everywhere. ok you emily: talk to us about

you the status of this hearing. will a obviously it is a very complicated situation. we know that amazon one that union vote fairly is overwhelmingly. what is the dispute? in spencer: we should remember she that there were hundreds of ballots that were set aside or you contested that have not been opened or counted because, as a result of the vote count those 500 ballots would not have counted either way. you but the national labor area you relations board that has conducted the hearing wants to know was this a fair election. and if they make the determination that there was a perception of surveillance that could have limited turnout or coerced employees to vote a particular way, that could force long another election, a do over, so to speak. so this is a big deal. the hearing continued today, it just wrapped before you guys you just wrapped before you guys called me. are you still, they are talking

about this mailbox, who had keys to it, why did they have keys to it, and it's still pretty mysterious. there is still a lot of open you questions that they are trying to get to the bottom of in this hearing. emily: when are we going to get an answer, and depending on what the answer is, what's next? one spencer: the hearing will likely wrap this week. i think the hearing officer was hopeful that they would have all the testimony and everything completed this week. the union completed interviewing its witnesses today an hour onto the amazon side of the hearing with amazon presenting its witnesses. so if they do conclude taking over the testimony this week, or they will have to wait for the hearing officer to make a recommendation and rule. our and i'm not exactly sure how long that will take, but we should have something in coming weeks. some indication of whether this vote result is going to stand, or if it could be forced to a remote.

emily: spencer soper all over the hearing. thank you for the update. coming up, a sneak peek at my studio 1.0 interview. as the chip shortage continues to be a major disruption to market trends. more on that next. this is bloomberg. ♪ as

lisa: i don't remember a time in this industry where it has not been competitive. what i will say is i'm really, really pleased with what we have been able to accomplish. it's fun to be able to say that we have really driven the direction of computing in the industry. it's fun to be able to say that. if i look at some of the things we have done over the last five

you years, we have really changed what people expect from high-performance computing. a i would say it is a competitive world and we are going to be very competitive in the process. emily: part of my recent conversation there with amd ceo lisa su. she has been at the helm of the company since 2014. this stock since that time it has gone only in one direction, that is up. we will have more on her a or -- on her leadership style, competition in the chip industry, and the chip shortage this wednesday. she is my next guest on bloomberg studio 1.0 at 9:30 p.m. eastern time. the chip shortage is one of three tech trends we are seeing play out big time in the market. here is the rundow >> this is market bytes. before we give you three things to think about when it comes to markets.

this week it's about the chip shortage, tech bondage and china's e-commerce. chip shortage, the world is running out of computer chips. why? that's because of a demand during the stay-at-home era followed by a ramp up and orders due to reopening and a cold snap in texas, which is contributed to a surge in computer chips. the effects are being felt by makers of cars and game consoles and is increasing the world's reliance on chip shortages. -- chip power houses. taiwan semiconductor and samsung. amazon is borrowing $18.5 billion of debt that it does not need. why? because of superlow rates. amazon joins apple and oracle in taking advantage of the lowest borrowing costs in three years, relative to treasury. and it plans to put this money to work. some of it will go to green and

social projects according to bond documents. china's e-commerce. bytedance wants to show it is not just about tiktok. it is battling alibaba for a share of china's e-commerce market which is worth $1.7 trillion. it is doing this by hiring staff and bringing in sponsors to sell products through short videos and live streams. it's after it sold $26 billion last year. that's it for this week's market bytes. for more content like this, make sure to follow us on your favorite platform. emily: that does it for this edition of "bloomberg technology". tomorrow on the show we have the cofounder of pandora. he will talk about his next big bet in the music industry, and where he thinks music streaming goes next. thanks for joining us, i'm emily chang. this is bloomberg. haslinda:

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>> this is bloomberg daybreak: europe laced. our top stories, president biden changes his tone on the violence between israel and gaza. he told benjamin netanyahu he would support a cease fire. this is after days of calling for calm but not publicly seeking and and to conflict. the fed vice chair says