>> 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." coming up, the web's hidden weak spots. an hour long outage takes

down large swaths of the internet. amazon and google go dark. even though they are back online, we will examine just how vulnerable we all are in a digital world. plus, bitcoin tumbles again as experts warn of a looming technical breakdown. we are going to talk to an angel crypto investor about he tom watson the wild price swings -- about how he stomachs the wild price swings. and california and the west are bracing for another year of raging wildfires. how bad will it get, and how are officials preparing? i will ask the california secretary of the environment on the heels of governor newsom's massive funding to combat them at change. first, u.s. stocks hovering near a record on tuesday. kriti gupta has more. breakdown the day. kriti: kind of a flat session today which is why i want to dive into the nasdaq 100. just a few weeks ago, we were talking about some major selling pressure in this index.

now it is starting to enjoy a little bit higher. really tells you the defensive trading is coming back into focus and showing up in the nasdaq 100. i want to pivot quickly to the means to mania -- meme stock mania. you saw wendy's join the likes of amc and gamestop. clover health was really that outperformer, up a whopping 86%. this comes with the backing of chamat palihapitiya, the spac king, making those comments. a massive digital outage. let's look at shares of this company, perhaps a negative risk event, not stopping fastly from doing too poorly. a 19% gain despite those outages. it is really interesting to see that tech is still en vogue even though we have a lot of these risks still kind of circling the waters.

emily: kriti, thanks so much for the breakdown. fastly, the hosting service outage affecting a number of websites including blueprint.com, the new york times, reddit. while the outage has been fixed, the company has not said what caused the issue. i want to bring in our first guest. we don't even know what fastly is. what exactly do they do and how does it impact such a giant portion of the internet? >> fastly is one of a handful of companies that have content distribution networks. it is a company that allows enterprises and governments to host a lot of data. and they disseminate it very quickly. high amounts of data across various service around the country -- servers around the world. what happened today underscores how fragile this interconnected internet infrastructure really is, given the amount of data

that we are handling today. emily: fastly has not disclosed how this happened. what do we know? could a hack attack been responsible for this? >> there was not any. . indication from the company. they said there was no evidence that it was a cyberattack. they chalked it up to it being a configuration issue in layman's terms. this could have been something as simple as human error or a technical glitch. what is at the core of that is that these systems are much more vulnerable. they are very high-tech but they are also very fragile at the same time, so a small issue can really wreak havoc across thousands of servers in a very short amount of time. emily: we will continue to follow what exactly happened here. bloomberg's jackie daval

os, thank you for your time. meanwhile, the chief executive of the pipeline company hit by the ransomware attack last month has apologized for the incident that paralyzed the east coast's flow of gasoline, diesel, and jet fuel. the ceo said that pain the ransom was an almost impossible choice. take a listen. >> it was the hardest decision i have made in my 39 years in the energy industry, and i know how critical our pipeline is to the country and they put the interests of the country first. icap of the information closely held because we were concerned about operational safety, security, and we wanted to stay focused on getting the pipeline back up and running. i believed with all my heart it was the right choice to make. emily: meantime, the u.s. has now recovered almost all of the

bitcoin ransom paid that cyberattack. it could signal that law enforcement is capable of pursuing these online criminals outside the nation's borders. joining us to discuss is alexis bianchi. lipstick tracks cryptocurrency, especially as it relates to financial crime. you have been looking at this incident in particular. how exactly did the u.s. government get this bitcoin back? alexis: absolutely, it is a very interesting topic. we are in the business of tracking the blockchain. what we have seen here unfortunately is just another event in ransomware. some keywords in order to label the addresses used by the darkside ransom team on the colonial pipeline. this information we were able to provide inova tools ultimately led to law enforcement tracy the

funds in the bitcoin blockchain and ultimately identify which wallets were used in the attack. emily: in a ransomware attack, paid in cryptocurrency or not? -- how common is it to get the money back, whether paid in cryptocurrency or not? alexis: it is not frequent and very rarely publicly known. in fact, the payment on the ransom's themselves are very rarely known. in this instance, amazing work was done by the fbi, the department of justice and they were able to catch the bitcoin as they were moving to trade into a wallet. how they held the private keys, it is still unknown. it is still to be seen. emily: this ransom being paid in crypto, how does that change the equation. i know there are concerns about bitcoin and crypto transactions being anonymous but clearly this

proves they are not untraceable. alexis: absolutely. in cryptocurrency, there's different shapes and sizes and not all crypto assets are identical. bitcoin in particular, we are operating an public ledger, public blockchain. anyone with an internet connection can see what transactions are going on. what we do at the lipstick is help -- that elliptic, the focus of our research team is identifying how those attackers effectively lifting the anonymity that may come with bitcoin. emily: i am curious what this means for hackers strategy going forward. will this discourage hackers from doing this at all or asking for the ransom to be paid in cryptocurrency? alexis: it is definitely a big

blow for ransomware attackers, is good for our industry and good for the economy at large. whether this will put an end to these practices is definitely not certain. i think what we have seen, my professional opinion is that, the days where operating ransomware requires very advanced technical skills. today, these attackers operate under a ransomware as a service model, where one developer , in this instance, darkside, it the malware and the code and then you have those responsible for penetrating the infrastructure and deploying that code. this activity, as it becomes more accessible, i think we will see a tug-of-war between the simplicity to run these attacks and also the strides made by law enforcement to control them. emily: how big a blow is this to bitcoin, given that much of the audience, investors, supporters are excited about the fact that it is antiestablishment and perhaps outside of the traditional realm?

alexis: i would say that maybe that position has evolved, particularly over the last years as interest in cryptocurrency's has risen dramatically. i think for the adoption by mainstream governments of cryptocurrency, this is good news. the fact that tools like elliptic's are here to make sure that customers are protected but also the evidence we provide in our tools enables exchanges with other businesses that work with crypto to be protected from crime. i would not necessarily see this as bad news. ransomware has been around a long time. the additional scrutiny from the government on having the right policies in place, the latest piece of news from the fbi, the doj certainly indicates that

bitcoin is not necessarily the place to carry out these activities. emily: fascinating, what you were able to uncover here, alexis bianchi of elliptic global, a company that tracks cryptocurrency. thank you so much for joining us. coming up, the crypto crunch. we stay with bitcoin and dive deeper into its two-week low. why are analysts pointing to a looming technical breakdown? that is next. this is bloomberg. ♪

emily: bitcoin slumped to a two-week low with analysts pointing to a quote unquote technical breakdown as well as the recovery of the colonial pipeline ransom in bitcoin, as evidence that crypto is not beyond government control. bloomberg's ed ludlow has the latest. what do they mean by "technical breakdown?" ed: we have come a long way from this mid april i have around $65,000. it's the past month, a clear downward trend. a lot of the market is paying attention to what happens if we touched $30,000 in bitcoin? does it bounce back aboard continue to fall? in terms of it being in overbought territory, one technical indicator, it is in overbought territory? if you look at its relative index. investors are wondering what will turn the corner from ukraine? it cannot catch a break in the words of michael mcglone. that from something else. take a look at this chart. the blue line is amc, a meme

stock. you can see, it has been on a bit of a tear recently. the white line is bitcoin. down at the bottom panel, there is a negative correlation. so when the meme stocks are going up, we see bitcoin fall away. it raises the question, who is in this market? are these the same retail investors that are selling bitcoin to their purchases of meme stocks? come back to me in the studio. the final thing, the shine has come off bitcoin. orange line, fallen away. it is underperforming the msci index, underperforming now the bloomberg commodity index. it is on its way to having similar year to date performance to gold. so the shine has really worn off. something to think about, emily. emily: thanks for the thought bloomberg's ed ludlow, thank , you. i want to stick with bitcoin. more losses. joining us now an angel investor , who focuses on cryptocurrency

and the former cfo of earn .com. the volatility has been going on several weeks now, and it is not necessarily just because of elon musk. why has this been happening? >> bitcoin has always been volatile since 2013, 2014. we have had plastic 10%, -10% or even more daily swings. that is kind of how bitcoin is. but if you zone out and look at this on the multi-year timeframe, it is an upswing to the right. we had bitcoin through the ceiling for the past six months, so i think it would only be natural that it is not going to do that forever. i think it would be natural that we have some sort of fullback. as ed said, there is a technical around 30 k. we are all watching that and then we will see what happens. emily: is this going to be a multiyear down cycle like last

time, or are we going to kick out of this sooner than we think? lily: i am really not sure we will have a three-year down cycle liquidated from 2013 to 2017. to me, what is fueling this is what folks are doing in macroeconomic policy. we have seen printed and spent, trillions of dollars being printed and spent, i think something like $6 trillion alone in the year of 2020. a lot of people when they looked at that, from his cetaceans down to ordinary they thought, hmm, maybe i should find a hedge against that. typically, that has been gold. bitcoin, this looked a little bit like digital gold, updated a little bit for the digital age. and i think that is a narrative that really took hold last year and even now. but i also don't think we are to have this major date like we had

in last cycles. this time around, a lot of the applications and use cases that were promised for cryptocurrency, we are actually starting to see. emily: i mentioned elon musk at the top. i wonder if you think, given that his comment certainly propelled some of the latest volatility, do you think his influence on this market is unhealthy? lily: i think elon is having fun with this. i think that his comments and their actual substance are really hard to take very seriously. for him to come back after a month or so of saying, i did not know it has an energy profile, honestly, that is pretty disingenuous. that is like saying you don't know where meat comes from. right? it is hard for me to think that many people are actually taking that, seriously in its substance. he is certainly triggering an upswing, also triggered a bit of a downswing here, but bitcoin

has many other things that are driving the market nymex, so i am not too concerned about elon musk longer-term. i think that this has been kind of the industry's maiden voyage with him and i think there is also number of people in the industry that have stopped listening to what he is saying. emily: meantime, you just came back from a massive bitcoin crypto conference in miami. still, a massive amount of people there, and still it feels like mainstream audiences are still trying to understand this. do think we are at an inflection point or have we passed that? lily: i think there is still so much potential for the broader blockchain cryptocurrency digital assets industry. i think where we are even now is still early. early innings. for, years ago, it was really

just bitcoin then we saw this ico boom from a few years ago. now we are really seeing something that appeals to such a spectrum of potential folks to get into this industry. one thing that is really substantial, decentralized finance, we call it de-fi for short, that is, there is like $60 billion today lost into -- locked into various centralized finance platforms, and that israel. so it is not just sort of purely speculative, up and down, again and again. there is actually real utility coming into the ecosystem. emily: you are investing across the crypto landscape. i am curious where you are putting your money and also how you stomach these wild swings. obviously, you have been doing this for years, but with the microscope on these big price swings, it is just a reminder of how hard your iron stomach needs to be. lily: i am not going to lie, it is not fun.

right? two weeks ago, there was like a 50% drop over the course of a week. that is absolutely hard to stomach. when i think about where a lot of value is going to be created in the future, again, decentralized finance is something i find to be tremendously exciting. you have liquidity pools that previously have always been managed and priced and so on and so forth by banks. now, you essentially have the ability to do this with computer code, which is, like, so crazy to even think about. you can essentially self-custody a large amount of money even in your browser and do pretty complex transactions with it. it is really the start of something phenomenal. that's where i am spending a lot of my time and looking for good

platforms and applications to facilitate that. cap until now, ethereum, which is also fairly prominent, it has kind of been the platform for a lot of decentralized finance, but i think there is a number of other competitors who are really making strides in that space. no question, when you wake up and there is a 20% drawdown, it doesn't feel great. [laughter] we just have to stay focused. emily: thanks for being honest. lily liu, angel investor, thank you for joining us and taking the time. all right. coming up, securing the supply chains. we are going to hear about president biden's latest plans to boost chip production in the united states. those details, next. speaking of chips, micron shares slumping tuesday. researchers at rosenblatt securities saying it could be due to concerns over memory chip prices and demand for pcs in the second half of the year. we will keep following this. this is bloomberg.

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>> we really wanted to bring more transparency to crypto. we were a company that had our controls in place, management team in place, that had thought really hard about what it took, and the journey started much earlier than 2021. we were on this path for over a year but ultimately decided it was time that crypto had emerged as an asset class that was broadly ready for the public market and we wanted to take that step forward. the hardest part of a direct listing is connecting the supply and demand. you are not allowed to ask your investors what they plan to sell so you go with a lot of unknowns. that creates volatility. that creates a bumpy path. so we spent a lot of time educating our employees. by the market does not understand these dynamics as well as i would like them to.

over time, as there are more direct listings, i think there could be a changes that would enable more -- concerns about potential supply. emily: coinbase cfo alesia haas speaking at the bloomberg deals summit. and sticking with crypto, an update on the story we continue to follow. enterprise software company microstrategy has boosted the size of its junk bond sale to fund the purchase of more bitcoin. instead of issuing $400 million, it will now issue $500 million. according to sources. the ceo michael saylor is renowned for his bullish views on crypto-currencies, making it a key part of its corporate strategy. coming up, california governor gavin newsom proposes a record spending budget of more than $11 billion to fight and adapt to climate change. we are going to talk about that historic proposal with california's secretary for environmental protection, next. this is bloomberg.

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emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. back to the markets, big movers with ed ludlow. what are you following? ed: taking a look at tesla. started brightly on tuesday, opening up 3% but by the close, down almost 0.1%. first, one man, one of the core pieces of our management team, left the company on june 3.

it was unexpected. he was recently promoted to lead the semi truck business, heavy trucking project tesla is trying to get off of the ground. it was announced that he had led. the shares took a hit in after hours. a lot of questions about why given his recent sideways move. there he is. tesla relies heavily on elon musk. so there are a lot of questions about what happened. the other big thing is china, shipment rebounded in may, at almost 30% from april. there was intense focus on china. look at this chart, one of the reasons tesla continues to grow while revenue from the likes of north america and some countries in europe start to plateau somewhat. it is a positive sign for investors that they are seeing that ramp up from shanghai continue, probably because there are also higher margins. tesla has localized the supply chain. boosting margins. really it has been a lackluster year for tesla so far,

underperforming in the s&p 500. after an incredible run in 2020. a lot of headlines, tweets from elon musk. investors want to see a focus on execution. emily: ed ludlow, thank you for the roundup. i went to stay with ev's and clean energy. california governor gavin newsom recently proposed an $11.8 billion package over multiple years to combat climate change challenges. the proposal includes resources to fight wildfires and droughts, and to accelerate the goal of developing the zero emission vehicle market. joining us now is california's sec. for environmental protection, jared blumenfeld. thank you so much for joining us. as you and i discussed in the past, the problem with climate change is so massive. can even this amount of money make as big a dent as you want it to?

sec. blumenfeld: it is a big investment. a good down payment. i think, the governor came out clearly and said we need to move away from the internal combustion engine by 2035. that takes a lot of investment. part of that picture, three point two billion dollars in adjusting to ev market. really looking at heavy-duty sectors. looking at things like school buses. i was with lyon to minutes ago, at looking at their electric school buses. we are looking at tracks that -- trucks that go from the ports of l.a. and oakland to warehouses. looking at transit buses as well as boosting the passenger vehicle market. the 11 billion as you mentioned, feels like a drinking water drop drought, which unfortunately we are back in the middle of. we are dealing with the impacts of climate change, which would be in the resiliency space, everything from the impact of two wildfires to drought, then

we are looking at how to reduce and mitigate greenhouse gas emissions. so it is a robust strategy and they think it pushes california to the forefront of action in this space. at the same time, the governor has asked us to do things like look at setting a date on oil extraction in california. emily: right. this money is to be spent over four years. and we have a recall election. what is that commitment on the outside chance that governor newsom does not stay in office? >> he is going to stay in office. i am a betting man. his commitment to these issues is clear. we have got a super majority in both houses. in the example of electric vehicles, for instance, we put

forward $3.2 billion. they are not suggesting it be $3.9 billion. the numbers are going even further in the direction of combating climate change and taking this issue seriously. emily: the wind leases are a key part of the renewable energy plan. there is a lot of controversy because the federal government has control over them. how do you ensure california is going to get that power? sec. blumenfeld: it has been a four-year fight with the last administration, and often people feel like administrations don't make a lot of difference. it is clear in the climate and equity space, the biden administration is making a huge and drastic difference. one of those, the department of interior secretary needed to ramp of offshore wind. there were issues with the department of defense around where exercises could take place. we now have a really important first step, which is to say that

we are going to put 400 square miles of california coast both in the middle part of the state and northern california toward wind resources. there has to be an intraplate between federal and state regulators. the offshore wind part is in federal waters. but in order to get the power on shore and the transmission in order to upgrade the ports, all of that has to be inter played between the federal and state regulators. at the moment it is going really well. emily: the governor's go to a gas powered car completely is an ambitious one. how optimistic are you that that will happen? and on deadline? and, what can consumers do to help? sec. blumenfeld: we were a little nervous last september. now you have gm saying they will

all-electric by the president 2035. driving the lightning f-150, numerous countries that have now overtaken california in our ambition to move away from internal combustion engines or zero emissions by 2035. what seems fairly audacious and may be beyond the stretch is now something that others are competing and it is a great competition. in terms of the milestones, we are setting them year-by-year, what we need to do and what the car companies need to do in order to get those zero emissions targets, also held by the biden administration, who is reinstating our authority which we believe we always maintained, but reinstating our authority to set stricter than federal regulations for our vehicles. emily: in the meantime, we are focused on the carbon footprint of big tech. jeff bezos had $10 million to fight climate change. at the same time, amazon, and

the online commercial economy in general is generating so much waste in the cardboard boxes. what more should a company like amazon be doing, and how concerned are you given online shopping only seems to be increasing? . sec. blumenfeld: unfortunately, today's actually world oceans day, and 10 million tons of plastic still goes into the world's oceans. we can pat ourselves on the back, but the reality is, things like plastic, we have way too much of. and you see the oil companies moving from transportation approvals, using gasoline petroleum to the plastic industry. we want to make sure we are not replacing one problem with another. you are completely right, the proliferation is a little bit insane. it got expanded because people were at home because of covid.

as we move back to the office, to your point about what consumers can do, think about one, let's help our local businesses. so many were hurt by covid and the economic impacts. let's go back to them, collect final records -- i was like, i will not shop online, i will go to a local place in sacramento. shopping local helps get rid of some of the plastic and that packaging and that is exactly what we need right now. emily: if we want to listen to some good music, we know where to go, jared blumenfeld, california secretary for environmental protection. sec. blumenfeld: thank you. emily: all right, coming up, the automotive data startup joins the spac wave to go public in a $1.1 billion deal. we will speak to the founder and ceo next about how he plagues to

-- how he plans to use this opportunity to make our roads, cars and traffic all better. this is bloomberg. ♪

emily: welcome back. further details are emerging about the cyberattack on the world's largest meat producer, gbs. researchers say hackers explored the potential attack since february. there were months when the company's -- they spent months in australia and brazil. three former jbs employees told bloomberg the meat producer

declined to spend more on cybersecurity because it wasn't considered a priority and it was too expensive. president biden has come out of the plan to secure a supply chain, products ranging from medicine to microchips. a task force will focus on supply demand mismatches and deals that could affect the economic recovery. the administration noted in its assessment that technological changes and increased cyberattacks require new thinking to ensure more local manufacturing. meantime, global sales of battery-powered electric cars sword more than 2 million in 2020, covering the number from the year before. more e.v.s also means more semiconductors and ultimately more data generated by these cars. a british startup backed by gm uses this for infrastructure design, we are joined by the ceo and founder richard barlow. thank you for joining us. you are planning this spac. why now and why not do a traditional ipo? richard: we have raised over $150 million from the private market.

we have huge amount from many factors globally to deliver more and more products. we thought the public markets were ripe to do a substantial raise. emily: you put together trillions of connected data points. i am curious we are selling your services to and how you make money on that? richard: we provide data to the, like, department of transport, on leah's of traffic in the cities, to mapping companies to help improve their products, data back to parking companies on parking behavior. data to auto companies on how their cars are being driven and treated. emily: i am curious how you feel about cars in an increasingly connected world. are you concerned about cyberattacks and this new level of threats we are seeing not just companies, but on all of us? richard: wejo is focused on data

security, trust is something we have majored on from day one. as a business, we work with manufacturers, but how to protect their data. we work with how we keep that data from cyberattacks. it is something we are very much aligned with in the industry and we have not had an attack. emily: i am curious how a potential regulation could impact your company given we have gdpr in europe and an increasing focus on data in general. i am sure that will ultimately extend to the data generated by cars? richard: in america, you have the california consumer privacy act,. and that. is becoming federal you have the right to repair act.

the california privacy act is being considered now. but it is more than just compliance. we go beyond compliance. we consider what rights for the consumer. it has got to be right for regulators, the consumer, the driver of the vehicle's and right for the manufacturer as well. and how data is being treated, that it is not abused. emily: we will keep an i on your spac. thank you for joining us, richard barlow, wejo founder and ceo. coming out, amazon preparing for its next venture. the e-commerce giant will offer six-month prescriptions for a very reasonable price. we talk about the company's latest move next. stitch fix shares soaring after the company posted better-than-expected third-quarter results, it's

outlook also seen as strong, a sign that folks are starting to get out again and care about how they look doing it. this is bloomberg. ♪

emily: whether it will be a rally in the crypto world or a spac yield, they have made their mark in how companies operate and look ahead to the future. we spoke with them about what is next for his company at the virtual event. >> we are debating something we are pretty excited about, which is turning the incubator to focus very heavily on crypto, which is, i think, a really exciting future in a lot of different categories.

>> why are you so excited about crypto? >> it reminds me of changes like web and mobile which were so fundamental to how certain categories evolved. it wasn't changing the dynamics of the category, just a better way to deliver. internet was a better way to deliver services like ticketing, was an early one for us. or travel. really in every category, the internet is fundamental to delivering a service. the next phase was mobile, and tinder came out of our mobile incubator. that was designed to build mobile businesses. it was right after the iphone and app store came out and all these apps are being developed in the app store. let's build in this area, focus on business in this area because we think it's a better way of doing things and a fundamental way of changing the way people

interact. i think the same could be true for crypto and how it changes the way industries operate. it just makes them more efficient. some of the fundamental underlying things there are better ways of doing practices that have existed for 50 decades or centuries are going to be more efficient when done on a blockchain. >> no me about your philosophy on spinning off businesses. recently it was vimeo, then expedia. tell me why you did it? >> at some point, a business can probably do it better on its own. it makes sense on its own. it has got a unique stability it has enough -- stability and its business, a unique currency for that

business. and has enough of a trajectory, that a unique currency starts to make sense. vimeo, the most recent one you mentioned is in that category. enterprise software as a service , that is a category that is very hot with investors right now and vimeo is certainly being aggressive in that category, in terms of expansion of the employees, looking at acquisitions things like that. , to have a currency competitive with others in the category i think is going to be valuable to the business. >> will you spin off any companies into a spac? what do you think of spac's? >> i'm not a spac fan. i'm a spac fan and i'm glad that other people are doing it. i am glad that there is a market to get these companies public, so a lot of companies will be sort of under the public light, which i think is healthy for a lot of people. people can invest in these things. people can bet on them, that against them. i think that is all healthy for the ecosystem. i don't think we are likely to

sell a company through a spac. some of the fundamental components of a spac don't really resonate with us. we spend a lot of time building companies and people do unbelievable work to build a company and get it to a point where it is creating real value and it is worthy of further investment or being in the public markets, and i don't really see why you go through all that work to build the company and then hand over the keys at a critical point somebody else. emily: iac ceo joey levine at the bloomberg summit. amazon will now offer six-month subscriptions starting at $60, as part of the company's latest attempt to move consumers to buy drugs online and not in the store. i want to get details from bloomberg's spencer soper. most insurers won't even cover six-month prescriptions.

talk about amazon's strategy here as a way in. spencer: amazon is targeting people who buy prescriptions with cash, this would be people uninsured as well as people who have insurance but also very high deductibles with insurance so they are cash paying customers as well. you end up with a pretty large market. the overall prescription drug market is about 350 billion. a large slice of that is who pay cash. the six-month prescription will help amazon by pales in bulk and upper them a discount. two deliveries a year for a years worth of medication as opposed to a monthly delivery also keeps costs down. emily: prescriptions that crop up on a daily month-to-month basis, what about the ones you

can't necessarily plan so far ahead for? spencer: this is more for people on longtime maintenance medications, they are offering this on our common high blood pressure medications and high cholesterol medications, managing diabetes, that sort of thing. they are not looking for someone who got an ear infection and needs a quick antibiotic. it is more for the long-term maintenance medications. emily: as much as it is convenient to order online for many people, you can't go down a block on any main street without passing a pharmacy. how hard would it be for amazon to break into this market? spencer: that is the key challenge, emphasizing the convenience factor when so many people have pharmacies close by, gas stations and food joints. that is the thing, is getting people to change the behavior.

the pandemic was a good opportunity but that window is closing with people worried about going to other stores and that sort of thing. amazon has to dislodge people from their existing routine, which is difficult especially with a prescription, because you have to shift paperwork over, that sort of thing. that will be the key challenge for them. emily: amazon bought pillpack, the online pharmacy in 2018. spencer fish the difference here is pillpack specialize in people taking multiple dedications. -- multiple medications. it would send them all of those medications in a daily packet. this is more for folks who are not on a big medication regimen. people who are taking may be a daily medication like the high blood pressure thing we talked about earlier. so this would be more for them, a broader customer base. emily: bloomberg's spencer soper, thank you so much for bringing us that story. a development that we will

continue to follow. that does it for this edition of "bloomberg technology." tomorrow we will be joined by the fire ico. you don't want to miss it. that is all for now. i'm emily chang. this is bloomberg. ♪

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