>> from the heart of where innovation, power, and money combine in silicon valley and beyond, this is limber technology with emily chang. -- bloomberg technology. emily: this is bloomberg technology. coming up in the next hour. days away from jeff bezos launching into space. whatever happens, it will be a milestone for the space race.

the space race is bigger than bezos or branson. the rash of cyberattacks is the new cyber -- pandemics. could following the trail of crypto be the key to stopping it? apple is getting in on the buy now and pay later trend, competing with incumbents like paypal and affirm. their cl will tell us how the competition stacks up. let's get a look at the markets. reporter: the first week of loss after three weeks and gains. you start to see a risk off day in markets when it comes to be stop markets. s&p 500 down three quarters of a percent. where did that money go? straight into treasury. yields coming in flat on the day but started much higher and

ended up flat. it tells me that the bid for treasury is alive. it is in those semiconductor stocks. this is the two-year chart here. you have this big acceleration. you have this acceleration from the global chip shortage showing up in the stocks. you start to look at the right side of the chart, a little bit of stagnation. you did have news coming out that it could potentially look to acquire global foundries. a $30 billion company that may increase its mobile capacity. you start to see a slight pickup today. let's see, going into earnings next week if that stays put. emily: we will be all over that. thank you so much. e-commerce market lori enforcing the no guy apartment. alex rodriguez otherwise known

as a-rod, joining forces. it will focus on early-stage funding and taking what they say is a more personalized approach to their companies. they both sat down with alix steel and guy johnson for their first interview together. >> it is really about vcp. finding entrepreneurs that have all the traits we look for in great entrepreneurs. they exhibit those traits and have a big vision. where we think capital, it requires a lot of capital. where execution is key and people make the difference. we will help the founder with the vision, raise the capital, and help them hire the very best people. nobody is better than alex at convincing people to join these

startups. alex has done a great job of helping recruit into these companies. >> this is the first time and probably decades that mark and i can't -- can convince or beat out a big institution. these founders want a personal relationship and have seen with rockets have done over the last 25 years. they have seen what i have done in my baseball career. they know they can pick up the phone and we can make decisions really quickly. in founders, the ability to move very fast as vital. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. have you moved -- "bloomberg markets what'd you miss?" -- >> is great for us there's competition these later rounds. we are coming in early. there's really nothing but an idea. i think all those funds are not playing that early eared we comment with 10-50,000,000 and

now we are ready for a serious be round. i think that was a great example. we came into years ago with 5 million, 50 million and then they went out and raised a billion dollars spac. that is a good idea of how this works. you go from nothing to a three plus billion dollar market cap. anchor: how we watch is different. and where profitability will be. how are you thinking about media and sports and how you get ahead of the changes and make money? >> i think all commissioners are thinking the same thing. they are thinking of how to get it to the consumer. nobody will do it for them. particularly in baseball, access, access, access. we covered the all-star game and we had a remarkable viewership but what was special was you had

players talking in real time at the batter's box. when they're playing shortstop, pitchers on the mound, baseball is such an opportunity to uncover and unveil what great personalities. people just want to hear. when i used to talk to derek jeter or mario rivera, people would ask me what we talked about. we want to all be a part of it. the more inclusive we can become is a massive opportunity. anchor: what did you talk about? >> it depends. [laughter] >> i think he talked about entertainment and sports and viewing it in a completely different way. that is something we will see in the future. >> when you think about what has happened outside these buildings and statements, cooper, airbnb, you will have ideas about what can happen inside to make it more efficient and make it fan friendly for the fans. >> i think there is

opportunities, mark talked about it as well. with technology and ticketing, there is opportunities to make it dynamic. yet dynamic ticketing for the season. i think there is an opportunity in game to do some dynamic stuff, not only bring great revenue to the teams but a customer experience can be improved by a lot. >> i think we can personalize the experience. personalizing announcing is really interesting. if you are a little kid, spongebob is announcing the game. how do you make it more entertaining and catering the experience? anchor: we are having all kinds of problems with covid and sports and it is ripping through sports teams at a ferocious rate. the yankees are having the same problem right now. how do we deal with this? should the league mandate everybody on the team, everybody on the coaching staff, everybody around them should get a

vaccine? do you think that's the point we are getting to deck out at the moment, games are getting canceled, it is frustrating, is there more the leak should be doing? >> i think that is a very fluid time. when in doubt, lean into the science. that is outside my pay grade. we gotta figure out ways to move forward yet keep everybody safe. it is a very unfortunate situation in happening not just what you are but here in the states and everywhere around the world. emily: all right, well first it was fake beef. impossible foods will debut a plant-based chicken nugget. it will unveil it at a tradeshow next week uses textured soy protein and sunflower to replicate the taste of nuggets. impossible's rival against selling its plant-based chicken tender last week.

coming up, we are counting down to a second billionaire heading into space. we will have the latest on the preparations for the blue origin lift off next. this is bloomberg. ♪

i emily: week -- emily: jeff bezos is due to blast off aboard one of his rockets on tuesday. he will be accompanied by his brother along with the youngest and oldest person to fly into space should it go to plan. ashley takes a look at the current space race and says the orbital economy goes beyond the dreams of space billionaires.

you have been two-year share of space launchers. you wrote a book about elon musk. branson made it safely. bezos is about to do this. from what you know, how likely is it that tuesday should come off without a hitch? >> the blue origin flight looks safer because blue had gotten a dozen tests with these manikins and taking to spaceship up and brought it down safely. god willing, things should go well. emily: when you say the future space is bigger than bezos, what do you mean? what does this future ecosystem look like? reporter: over the last week or two weeks, people have been consumed with the mania around these launchers. i think people were missing the point of what was going on.

there been a lot of pro and con takes, billionaires going into space, we got other things to worry about. what i try to argue in my story is this is just one small part of a booming private space. we are tons of rockets now. we got tons of satellites going out. we got a computing shell around the earth. whether you like what these two guys are doing or not, i think private space is here to say. emily: let's say he has a successful launch. what is next. >> virgin galactic is clear. they want to keep doing space tourism and that is the major thing for them. for bezos, it's not sure if they will focus on what spacex does

today which is carrying satellites into orbit. blue origin has a couple of rocket families and it looks like jeff was more interested in this industrial type stuff. i think either way, we are in a new era. space tourism israel. we'll go from super wealthy people and then one day hopefully, anybody who wants to do it will do it. emily: you make the point in your piece which i think is lost in this conversation. we won't be dependent on the government to get the space. these folks can go anytime they want. take us out 10 years from now. what is the space ecosystem look like? reporter: it will be exciting and unpredictable. i think most people have missed what happened in the last five years.

spacex has been so successful. you got a private rocket company in new zealand that have done dozens of launchers. you got people trying to put up tens of thousands of satellites. there are government approvals that go into this but these companies are moving faster than governments ever did. it has this wild west feeling to it. you want to be careful. you don't want to flood it with more junk but i think it is an exciting time. it feels like there are days of the consumer internet that were not sure what people will build up there. it has this potential to be a whole new economy that is put in place. emily: i know it is not about a competition, but let's talk about it. what do you imagine eon -- elon musk is thinking right now? he was in new mexico and branson wishing him well. why has he not done this yet? i know he said he wanted die on

mars and not on impact. what do you think he is waiting in the wings here? reporter: he is definitely team branson and not bezos. spacex was just never meant to be about space tourism. they are doing something snout like a mission around the moon and sending crews to the iss. i think that is because it is easy money for can make. he's all has been more industrial. -- always. the appeal of a short trip, a few minutes in some orbit, i don't think it is that intriguing to him. i do think one day in a few years, i can imagine him doing a couple laps around the moon. i just don't think it floats his boat right now. emily: maybe he was the one who bought that 28 million ticket and give it up.

you never know. we are trying to find out who that is. you can check out that piece in bloomberg businessweek. it is an excellent read. check it out. we will bring you live for special coverage of jeff bezos and his flight to space next tuesday starting 8:30 east coast time. i will be there on the ground. cannot wait. apple is pushing into the by now pay later business. we will talk to a firm ceo about potential competition up next. let's take a look at how apple ended the week, down almost 1.5%. there been surpassed by the chinese company which is become the world's second-largest smartphone maker. they increase their shipments by

83%. samsung had followed them and then apple at 14%. this is bloomberg. ♪

emily: the indian digital payment pioneer is seeking approval for a $2.2 billion ipo. it could be the country's largest. the hope to capitalize on the rising popularity of internet-based consumer companies. earlier this week, we reported on apple working on a new service that allows for any apple pay purchase he paid for overtime paired this would rival

the buy now pay later offering such as a firm and paypal. they will use goldman sachs as the lender. how will it stack up? let's bring in a firm ceo. max, taking a look at what we know so far, what does a firm has over what apple plans to offer? >> neither goldman or apple have anything about their collaboration to be. i can't really compare. i can tell you exactly what a firm is. i think it really matters. we are not a wallet which is what a lot of the competition or would be competition is. we are in the business of turning browsers into buyers. if you look at the merchants we have from target to walmart, the network is vast at this point. we are in the business of

bringing customers and increasing site and enabling merchants to grow without discounting. it is a very complex set of technology and partnerships that are very deep from the. none of the stuff we have built and have specialized in. i think we are in a different business than anybody else. we have been very strong and we have built quite motor in the last several years. emily: yep many existing merchant deals that apple does not have yet. given that apple service will integrate seamlessly into the iphone just like apple pay does today, what advantage does a firm have then and does that concern you? >> it is both about reach.

apple is a giant company and they have more prevalent customers. it is also about underwriting and understanding your customers. thing that we have learned a lot over the last two years, we covered many things, we also have scale and i would like to leave it very seamlessly at this point the one thing is we have underlying consumers, through the covid shot, that kind of learning you cannot speed up. it is only doable from time. you have to plan money and watch consumers go back and not have them in any systems. young people have opted out of credit cards. that is something you need to watch for. i don't think you can turn that on. in that sense, the way we have

beaten back competitors from the traditional banking roles. turns out we participated much better and had a better understanding of the consumer. emily: it is a big enough market and you identified it years ago. how much growth do you see in the by now pay later market? is it a good thing if they take on more debt in this way? >> our mission is super important to us. we are fundamentally built around this notion of responsible spending and borrowing. we don't charge any fees to fully align ourselves with the consumer. i think creating some to make some feel safe and smart is a good thing. pushing them to overspend is a

bad thing. we are very directional. last time i looked, maybe 2%-3% of oral spending isn't by now and pay later. there is a credit -- an incredible amount of growth. especially months gen x and millennial and gen z. the competition is vast. i do think there is a lot of things to do to bring the education and responsibility front and center to the end consumer of convenience and access to capital and credit. emily: you told me earlier this year you thought consumer spending would be booming this summer like every weekend would be like thanksgiving weekend. what spendings patterns are you

-- what are they buying? >> i thought you wanted stats, i did not come prepared. since july 4, this is a great sample size. these are peak ticketing months. we have 450% year on year growth. people are basically running out of their lockdowns and going to travel and seeing rentals, apparel is up 90%. jewelry is up 60%. all of these metrics, people are trying to look good. people are trying to get out of town good i stand by your claim that thanksgiving and july. emily: ceo of a firm. always great to have you. coming up, president biden is

looking to crackdown on the search in crypto and cyberattacks. we are going to talk about it all. this is bloomberg. ♪

♪ emily: what about the bloomberg technology. i am emily chang in san francisco. let's get a look at the markets. >> at the top of the shows we were talking about our macro before we dive into more specifics. the stocks index, a one-year chart. level chip shortage as those shares rallying. we are seeing stagnating for the last couple of months and this is the macro picture you are seeing. when intel announced or was reported it was looking at the global boundary, a 30 billion

company could increase its global capacity by 50%. these are the numbers investors want to look at. compared to their competitors, global foundry is at the beginning of intel. going into earnings season, that will be at the top. 57% versus 30% for global foundries. you really want to see, can intel keep up with these numbers? how much will a global foundries acquisition help their bottom line, especially given how they have performed with their other companies. if you look at the chart, they point out the performance compared to apple, nvidia, amd. you can see intel it does has been lagging for a while. they need to up their manufacturing capacity and that is why this deal was important. let's see if it comes through. emily: all right. thank you so much for the roundup. have a great week. facebook critics say they have

had enough. there are heading to washington in their battle to force tech companies to regulate heat speech. organizations like color of change, the anti-defamation league, commonsense media are hoping to use the white house to exert change. members anna edgerton. there is so much going on when it comes to tech --scrutiny in facebook in particular. talk to us about the latest developments. anna: the complaints we have heard from the civil rights birds are things going on for decades. they are worried about micro-targeted advertising that determines -- discriminates against women and people of color. they are worried about the hate speech and white support -- supremacy we see proliferating on the sites. despite the efforts of the companies to take down those kinds of contents. they have been begging companies like facebook to change for decades.

talking to mark zuckerberg and sheryl sandberg. the company has not changed. they are taking their complaints to washington to try to convince democratic lawmakers to force the companies to change through legislation. emily: is that going to work? what is congress going to do? anna: that is a good question. legislating is a slow process and these are tricky policy questions to get right for a few reasons, not least of all the first amendment, which restricts what the government can do in terms of speech for private companies. there are bills out there looking at algorithms rather than content. requiring companies to be held responsible for the way they spread content, not necessarily for the original posting of the content. these bills have a long road ahead before they can have law. -- become law. democrats have both chambers by a slim majority.

it would need 10 senate republicans in a senate which is a tough spot when it comes to this measure -- kind of mother. emily: what does this problem look like long-term? what does it mean for facebook? anna: yeah. you know, one thing we hear from people like mark zuckerberg, when he comes to testify, is he wants facebook to be a good experience for people and he wants people to come away from facebook with a positive experience. a lot of facebook users are generating and sharing this offensive content and in some instances planning for inciting violence on the website. you know, it is hard to see what this means for facebook's future. this is a place people increasingly associate with the more extreme elements of society. it will become a place people don't want to spend time at your people war look elsewhere for their connections via other

social media sites and other technologies. emily: anna edgerton. thank you for continuing to keep us updated on the developments in washington. thank you for the update. samsung electronics is considering a second location in texas for it $70 billion usm i conductor plant and is exploring another 6 million square foot site in addition to another expansion. they could address u.s. concerns about ship security, entree production, while helping the south korean company when u.s. clients. ♪ coming up, a ton of emmy nominations for netflix and reports is planning to move into gaming. we'll talk about it all and look ahead to next week's earnings. this is bloomberg. ♪ ♪

♪ ♪ ♪ emily: divided administration is trying to zero in on crypto to combat ransomware operations.

this is the favorite payment for hackers. the white house wants more rigorous crypto tracing and will offer a $10 million reward for information that leads to the arrest of ransomware gangs. joining us to discuss the intersection of cyber in crypto, george kurtz. great to have you with us. how has crypto changed the cyber threat landscape and the ability for these attackers to exhort money -- extort money anonymously. mr. kurtz: when you look at the coin and how it evolved and how it has been used in the early days, a lot of it was dark web and back alleys of the internet. certainly now, it has become commonplace for people to have it. it does allow a level of -- an anonymous factor that allows people to actually get away with these attacks and not be caught. emily: so, on the other hand,

especially in the case of colonial pipeline, authorities were able to trace the attacks to get that money returned. i wonder, could crypto and this being the modus operandi also be the way to bring more of these. justice? mr. kurtz: perhaps, but there are interesting services out there. there are multiple. they actually allow the crypto to be watched together with other crypto's to make it harder to south. in certain cases, you can track this down. in other cases, the bad guys have found creative ways to wash and water crypto so that it becomes even more anonymous. i don't think by outlawing crypto or crafting down on crypto is the single answer. the bad guy will find a way to get paid. knowing your customer when you're dealing with crypto can

be helpful in trying to at least understand the trail of where that money is going. emily: earlier, i spoke to microsoft ceo and he described cyberattacks -- the throat -- cyber threat landscape as a new pandemic. take a look at what he had to say. >> somebody said, why will we have a pandemic? we have another, cyber. that is going to be there with us. at the same time, i think what is really now much more, i think, in the consciousness of people is the level of attacks for sure have increased but the need for a response, to be top-notch, has increased. emily: would you echo that description? the threat landscape is a new pandemic? mr. kurtz: it certainly has become a pandemic. over the last four or five years, it has gotten worse, with

cybercrime. what we have seen is cyber criminals take a lot of the techniques from the nation state actors and apply that to cybercrime. you have to look at it from the perspective of these threats, which is what crowdstrike does. we are on -- nationstates are focused on being silent. they don't want to be caught. just by their nature of encrypted all of this data, they have to expose themselves. we are seeing more of it because of the heat crowd -- cybercrime element but it is just the tip of the iceberg and we are dealing with much more than what you see in the headlines with crowdstrike. we have seen the ransomware and big game hunting escalate over the last two years. it has been a one-off encryption of machines. it is get into a company, look like a nationstate, encrypt the machines, and ask for ransoms.

emily: let's talk about the identity protection piece. we talked so much about them all wear and damage. there is so much to the extent of that damage. it is huge. identities are at risk. you know, talk to us about the threat and how crowdstrike, et seq.. mr. kurtz: it comes down to zero trust. there is malware being used every day and hundreds of thousands of pieces created per day at this point. it is problematic and those are things we restock automatically. zero trust is really important. if george and emily are logged into a computer, how can you trust the system? that is part of the things we pioneered in zero trust being

able to identify using ai whether the user is in fact george or emily and being able to prevent these lateral movements we have seen in every attack. we think about going to the cloud, we saw this with its -- the sunburst activity is the director services are normal, on premise, and in the cloud. we see attacks in those areas as well. something that has to be locked down and we are happy to be in charge. emily: something else interesting happened this week in the cybercrime group that we believe was behind the jbs attack. a group with ties to russia seems to have disappeared. this, of course, after president biden sat down with president putin. president putin doesn't exactly do everything the u.s. wants him to. what do you think actually happened in this case? emily: there are a couple of scenarios. mr. kurtz: maybe they were taken

out offensively by the u.s. government. that hasn't been announced. maybe they were asked by the russian government, in -- emily: when you look at the second half of the year, what do you expect to see? will we see as many ransomware attacks as in the first half or more? mr. kurtz: i think more. we see 200 to 300,000 new

samples of ransomware every month. these are very targeted in nature in many cases. ransomware is a service. you may not have the skills to create this ransomware. you would pay them a cut. given the business models, given how low probability it is to get caught, it is a big business for the longer-term the ever we have not seen it beside -- subside. it is important to protect his workloads and endpoints in the cloud. emily: i was told it was revil. is it revil or r-evil? mr. kurtz: it is ransomware people. i call it really nasty stuff i some bad people and are focused on helping customers protect

against it, which we have done. emily: i will check in with my revil thank you for joining us. george kurtz. tech earnings kicking off next week. netflix set to release it quarterly report tuesday. it has been quite a week for the streaming dried, receiving 129 emmy nominations, just behind hbo max. we learned it is planning to offer video games. lucas shaw was behind the bloomberg's group and joins us now. i'm curious what there were -- the reverberations have been about netflix's foray into gaming. lucas: i think a lot of people are confused, if you will, as to what the plans are. we have seen mixed action on loft -- wall street. it feels inevitable because the leadership of the company has signaled that for a while and

the big question is whether netflix is going to be more successful than other entertainment companies. disney has tried to make videogames before and it did not go well. is it a natural extension of storytelling? is it a whole new medium they have to figure out? emily: my question to you, with disney and so many well-known characters that we have all come to love over decades, why could not disney pull it off and why would netflix that the any different? lucas: you know, it is a good question on disney. i am not sure i knew the answer other than every effort they have made it over the last several years has not done well and it has been much easier to license those characters to other people. star wars states that other companies make are very popular. netflix -- and i think that gets at one of the big challenges for them -- one that people don't

know the answer to his which shows are they going to make that will work as videogames? other than stranger things, which already has videogames, are there big shows they own -- you remember a lot of netflix shows they have to write -- they can turn into gains. it is a little too early to know because the company has not found plans. i would not be proprietary surprised if they made titles out of m&a. i supposej -- out o0f ani me. --

hbo max and netflix, with this eplus second. apple tv has more than some of the broadcast networks. the streaming services -- service is completely dominated. a lot of streaming services have become more commercial and broad . there was a time in the transition from broadcast tv to cable streaming were a lot of the shows that got nominated for these awards were pretty niche. you think about madmen debt -- mad men doing well. probably only a couple million people watched it. amanda lorrain is a break -- they hit and its --

emily: we will takeemily: a look at some of the biggest antitrust cases of all-time as walk -- lawmakers debate breaking of big tech. beyond meat has been cut by credit suisse with a $123 price target. a higher investment spend, warehousing, and transportation costs will leave the company below its original margin targets for the next two years. shares are down more than 3%. this is bloomberg. ♪

♪ it's multiple lawsuits- face the biggest tech giants in the u.s., making up 22% of the- emily: a look back at the

biggest antitrust cases that shape u.s. history. >> john de brekke feller was a young but enterprising businessman from a poor family who founded the ohio oil business during the civil war. he had his partners turn standard oil into the largest refinery business in cleveland. that oil company became an empire controlling up to 95% of refinement across america. rockefeller combined producers, refineries, and marketers into a trust but --that by6 attracted scrutiny. under the sherman antitrust act, the firm was ordered to sell off its heard that holdings. the resulting companies have been renamed and you will recognize some other their four recent monikers including exxon, and british petroleum. breakups also shaped the telecom

industry. in 1974, the suit to break up at&t, calling for divestment of its subsidiary, western electric. belt service up to 85% of telephone lines while most equipment was produced by western electric. rather than lose the case, at&t proposed an alternative. a self-imposed breakup. the company broke up in 1984. the result was seven independent regional holding companies, or baby bells. they gave consumer access to more choices for long-distance services for lower prices. bell atlantic, bellsouth, and u.s. west emerge. there is a longish running -- longest running company -- antitrust case.

microsoft. the government accused microsoft of making it difficult to install competing software on their computers. microsoft lost the case when the presiding judge ruled the company violated the antitrust act and called for niekro's off to divide the company in half. operating and software. there was a 2001 settlement between microsoft and the doj. the company did not need to break up but it would be required to share computing interfaces with other companies. microsoft agreed to abide by an agreement for 2011, barring it from entering its agreement that excluded competitors. the department says that agreement level the playing field, making way for the rise of apple and google and a new generation of tech titans. emily: you can see more of that

on our special show, redlines, u.s. and big tech will play throughout the weekend starting tonight. 7:00 p.m. lost return. 4:00 p.m. on the west coast. that does it for this edition of bloomberg technology. stay with us. wall street week up next with romaine bostick. there he suffers and investor chief.

>> too soon to taper. the fed stands firm. jay powell tries to cobb's concern about his policy approach. this is wall street week. i'm romaine bostick. this week, professor stephanie kelton, author of the deficit notice of economic experimentation. we are in an experimental economy. after this crisis, we saw fiscal policy engage in a way it did and after the financial crisis. larry summers on the continuation of trade sanctions between the u.s. and china. >> i hope there is some kind of ongoing channel