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taylor: -- emily: take a listen. welcome back to earth. [laughter] >> how do you feel? >> really good. emily: while. this is your first interview since landing. we all want to know the reality of seeing the earth from above. did it live up to the dream? >> i am not talented enough to describe this. it was much more than i expected.

it is awe-inspiring. do you have words? >> i don't. >> one of the most pitiful sites i have ever seen. emily: what is blue's next move? how does this fit into the long-term vision? >> we are building an orbital vehicle. this vehicle we flew is our sub-orbital tourism vehicle. every time we fly it, it is practice for the orbital mill -- orbital mission, and he gives a chance for people to see what we just saw. until you see with your own eyes , i don't know, maybe we need to send a poet up. [laughter] it is this thing you can't -- you can see it is just one place, no boundaries, no national lines. we see this thing -- earth's atmosphere seems gigantic, but when you get up there you see it is this little thing we need to protect.

for me, it was incredible. >> i was surprised at how easy it was to move around in zero g. >> it felt almost normal. it felt like we were somehow evolved to be in zero g. emily: for the people wondering why are we investing money in space, talk to us about how you believe this will help benefit us on earth? >> we are building infrastructure. we are building a road to space so that future generations can build the future. we live on the most beautiful planet on the solar system by far. we have to keep it safe and protect it. the way to do that is to slowly move all heavy industry, all polluting industry into space. that is what we are going to do so we can keep this planet the gym that it is. we need reusable spacecraft, and to get that, we've got to practice. emily: i have four kids, for the

kids watching, how do you want this to inspire them? >> kids, they are -- every kid has so much potential inside of them. what i hope what we are doing a little bit is unlocking that. for kids everywhere, the way you unlock potential is with inspiration. i was inspired by a little boy by the apollo astronauts. this is the next phase of commercial space development and i hope that inspires little kids too. emily: the first person to have jeff bezos -- hug jeff bezos was his mother. she had two sons on the flight. as a mom, i sympathize. we got to go with him to the landing pad. we saw where the rocket touched down. they key is reusability. that rocket is ready to go back. i said, when are you going next? he said tomorrow. he was in a jubilant mood. i want to bring in ed ludlow who

has been with us in van horn, texas. the big question is, what's next for blue? what is the road to space tourism? they said they've got more flights plant, what else? >> two flights for the rest of the year. this space tourism business is supply constrained. bob smith was saying over the weekend that there are willing and paying customers out there. the fourth seat was supposed to go to the auction winner, but we are told there were others bitting in the region of $20 million. we are trying to go about how they will go about pricing this. two more missions, six paying customers, the constraint is that they only have a couple of boosters able to do this. remember, jeff was candid in that interview that this part of the business is a small part of

the much greater ambition. emily: let's talk about that, new shepard going up and down is one thing, new glenn is what they are worry -- working on now they say it will be ready at the end of next year. that will do orbital -- that will do orbital missions. when blue origin starts doing orbital missions, what does that mean? ed: this is an important day, but it has been a long time coming. jeff bezos founded the company in 2000 and they have fallen behind space x. they were focused on this narrow issue of sending paying customers that space acts launched far ahead when it comes to orbital launches. blue origin wants to be amongst those contracts. space x was awarded the lunar lander contract, the artemis program for 2024.

today, jeff bezos talking about how this validates their technology. they said new shepard is overkill in terms of rocket technology it takes to get to sub-orbital flight. confident they can get beyond that, now they have to prove it. emily: do you imagine this successful flight is demonstration of technology, it puts -- puts blue origin in better position with nasa? ed: you know i am a space romantic. we have the world richest man, the world's youngest astronaut, the world's oldest astronaut and some guy called mark taking this flight. it proves blue origin is a genuine player in the eyes of the public and the politicians who award contracts. they have good technology. remember, what's going on over my shoulder, they are not just sending out these rockets, they are testing engines they are building for others, they are

testing other technologies and they have a roadmap in place to put those into the real world -- or, out of this world, i should say. emily: give us the atmosphere from van horn, texas where people are very proud, wishing them well. today, they pulled it off. ed: they have been incredibly sweet and sincere. one rancher who has been here his entire life told me this is the most exciting to happen dish the most -- the most exciting thing to happen in his lifetime. there are truck stops, nothing here, respectfully. have hoped blue origin would bring a space boom. it hasn't happened, but there is genuine feeling now that it will. emily: one small step for jeff bezos one giant leap for space exploration. a really exciting to -- exciting day for van horn, texas.

thank you so much. a lot of emotion here. people are still processing this. we talked to employees on the ground, they are in awe. today is a day to celebrate. caroline: what a pair you are. what an amazing interview you managed to get. meanwhile, quite a day for stocks. >> i want to take it back to that blue origin story. you wouldn't think this is a market story, but it is. a risk on day for broader markets, that lifted amazon and tesla. virgin galactic, down, one of the few stocks down today. this of course in reaction to that launch. in pre-market trading, amazon share prices were dropping,

tesla as well as virgin galactic. a very clear readthrough. let's see how some of these space etf's were doing. i want to point out, they, year-to-date, have not been performing well. i want to point out these holdings, these are them. green on the screen, all thinking they are going to be thriving off of that base economy investment. bloomberg is monitoring this and you can find this on bloomberg terminals. caroline: do tune in. i want to thank you for that. upcoming, the investment -- kriti was discussing. we talked -- we talked to sam

korus next. netflix, the streaming titan now up. stay with us. this is bloomberg. ♪

emily: welcome back. we are live in van horn, texas where jeff bezos pulled off a safe and successful launch shuttling human beings to space for the first time. landing without a hitch. when he got to the ground, bezos talked to us about building a

road to space, building out a future space economy. what does that mean for investing? i want to bring in sam korus of ark investment management. so curious to your thoughts on this and what it means for the investment community. when it comes to actually putting your money somewhere, placing bets now that bezos has pulled this off, where are you looking? sam: you have blue origin with a successful launch, virgin galactic with success, space x now taking humans to the international space station, what better way to show that we are in a new space-age? we look at that when we structured our fund, we were trying to bucket four areas. orbital area space, rockets and satellites, sub-orbital, you've got space tourism there and highflying drones acting as

pseudo-satellites, then all these enabling technologies coming together. 3d printing making it possible. energy storage which is super important. deep learning and artificial intelligence for these autonomous drones. and then you've got aerospace beneficiaries, companies that are going to benefit on earth from all of the space activity going on. that is how we structure the portfolio. emily: bezos told me repeatedly today, this is not about escaping, this is about protecting. he believes earth is the best planet, but we are going to run out of resources and we need to tap resources in space. that is a very different vision than elon musk has put forward. he is looking to mars, perhaps earth will be inhabitable and we need to move to mars. kathy wood is a huge fan of elon musk, do you see those visions

being at odds and how does that influence your strategy? sam: i do not think they are at odds. space has -- becoming more of a human need. half the earth's population, 3 billion people don't have access to internet. one of the ways we are going to bring them affordable internet is through satellites. a lot of memes get put out about billionaires going to space, but all of this activity is driving down cost and is going to enable very affordable internet for the global population. i don't think we can overstate how important that is. emily: let's talk about cost. the tip of the iceberg is -- it is a very small part of what blue origin is focused on, but it is just the beginning and it is a way they are going to be able to make money short-term. what you think is the market for

space tourism? what cost for a ticket? sam: a lot of framing for space tourism gets put into the fact that people spent 1% of their net worth on an incredible experience. going to space would fit into that category. when you look at that, you need to bring costs down to roughly $50,000 per ticket for space tourism to reach the inflection point where more people can do it. i think jeff bezos agrees that space tourism is a way to test technology, it's a good way to commercialize it at an early stage. what we see this as is a big opportunity for hypersonic transportation. not just going up and coming down at the same spot, that would be going from new york to japan in just a few hours. we think over the medium-term, that could be a $270 billion

revenue opportunity annually. or, look at satellite opportunities, that could be $40 billion revenue. space tourism is really the first step, not what we see as the main opportunity. emily: so much of the vision is hundreds of years out. bezos has made it clear, some of the things he is talking about won't happen in our kids generation, or our children's children, how do you balance making investments in a vision that is so far away versus what can actually benefit us in the near term? sam: there is the 100 year vision, but the technology is moving incredibly quickly. if you go back five years ago, no one would have said we would have a reusable rocket. today, rocket landings are commonplace. if we like at the active satellites orbiting the earth, roughly half are spacex star

link satellites. this is happening very quickly and the benefits we are going to see are going to happen far faster than people think. if you go back 10 or 15 years, the cost to get any mass to orbit was in the tens of thousands of dollars. roughly $12,000 to low-earth orbit. with space x, that has come down to roughly $2000. with the next generation of rockets, that could come down to $200. all of this is in the five-year time -- these opportunities we are investing in, it -- there is longer-term time prize and investing in the next quarter, but arc also does take that -- in the five years. we think we will see enormous opportunity and commercialization in space in that timeframe. emily: sam korus, ark investment

management, i appreciate you taking the time. we will have more from -- on this windy day. a successful launch for jeff bezos. this is bloomberg. ♪

caroline: concerning news from the cdc, the delta variant makes up 83% of covid cases in the u.s. growing concern over these figures prompted some companies to rethink their return to work plans, including apple. -- is now right -- delaying their return plans by a month. talk to us about what their return plans had been and what they now look like. >> apple had been aiming to have

all the employees back in the offices globally by the beginning of september. on a plan that would see employees in the office on mondays, tuesdays and thursdays with remote work optional for some employees wednesdays and fridays. now, they are delaying that until october 1 at the earliest, about a one-month month delay or so. my understanding is that this is more of an indefinite delay and apple is going to give staff a one month notice before a return is ultimately required. caroline: so then, are they rethinking that model they put in place in terms of certain days working in certain remote, is that going to evolve? >> as of now, that three-day plan, two day remote is in place. this is a hybrid plan they will be marching on that return and it is going to last into 2022. at that time, apple is going to reevaluate.

whether that is allowing more remote options, were tightening up and requiring five days back in the office. a lot of that is dependent both on employee feedback and what the covid-19 situation is at the time. caroline: it almost felt like apple stores were at one point the arbiter of where we were in the covid journey. apple's decision-making on opening. where are we on store opening? mark: apple is often a barometer both in stocks and -- based on that logic i've got bad news. after about a month, apple is having masks back on as a requirement for retail store employees. half the stores across the u.s. are going to require employees to wear masks once again after dropping that requirement in mid june. in addition, they are urging the mass requirement for the rest of

the retail staff globally. required in some states, strongly recommended elsewhere. caroline: also, the return to office, is that --? >> apple's plan is the same globally. the october-september timeframe was a deadline. that was the last time you were able to meet the requirements. there are already many apple employees back. there are offices in asia, europe, those are already pretty much still -- it is in silicon valley you are seeing some engineers really concerned about returning. caroline: scoop after scoop, thank you. coming up, no royal treatment for netflix. the streaming giant product -- projects sluggish growth. emily: this is the rocket that just took jeff bezos to space. he hopes millions will follow

him. caroline: we will head back to vanhorn for more coverage of blue origin's successful space launch. this is bloomberg. ♪ (announcer) back pain hurts,

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caroline: this is bloomberg technology. let's get more calls from big earnings. >> 1.5 million subscribers last quarter. compared to 1.1 million estimate. the real game changer is what is happening next quarter. when those earnings hit, you saw a little bit of a drop the estimate being 5.9 million. netflix only saying that quarter they seek 3.5. that tang to the stock. until recently, we started seeing losses recouped in

after-hours trading. i want to show you what happened with some of its competitors. this is some charting of its competitors. disney, comcast, viacom all involved in streaming services. during the day, they held up paired netflix going into the earnings story. he started to see their stock drop paired -- started to see their stock drop. we did start to see some of these names trade in sympathy. does that continue to tomorrow? i do want to broaden it out into some of the other sectors of tech. today was a risk on day. when it came to tech, it did not discriminate. we did see the nasdaq 100 much higher. not as big as some of its cyclical names. 1.2% gain is nothing to scoff at. biotech stocks, even the chinese adrs. those had been under pressure because of the regulatory scrutiny today attracted investors.

caroline: crypto still down to always great -- still down. always great to get her analysis. let's go back to netflix. managing to push higher. we are still worrying about the subscriber forecast. 5.8 million. you're getting a guidance of 3.5 million coming from netflix. is this more than we are expecting? andre is with us to discuss his earnings report. i know you are a man who thinks it should not be all about subscriber growth but were you taken aback by the futures forecast? >> i was a little bit in terms of i think everybody has known that the international is where the growth opportunity has been for the better part of two years. 2020 because of the covid rebound, the domestic number was inflated. the bigger concern is that netflix needs to diversify and revenue stream.

they were the first mover all the way back when it came to bbd and streaming. they have been lagging behind the other competitors. with the subscriber numbers, a wider speed is more concerned about that. caroline: to see 400,000 subscribers lost in the second quarter in north america is something to make you listen. they have been starting to hint at ways of diversifying. they are offering gaming. a story that was broken by bloomberg. what you think about that? >> the move to gaming is one i have been talking about for some time. the general strategy myself and others have shared is that gaming was a natural evolution for netflix because of the shift the cloud gaming and streaming. another way to diversify would be adding a cheaper ad supported here. one concern i would have,

normally they are the first mover. everything they have been successful at. from the founding of the company. they have been able to outspend others. when it comes to these streams and gaming, they are the last to do so. they are not going to be able to outspend soft and amazon and others in the states. will they have to acquire a gaming studio or do other things to make that more of a viable expansion opportunity? caroline: why don't you think they can't outspend -- why do you think they can't outspend? what stops them being able to catch up organically? >> what we have seen over the same time in 2021 where there subscriber growth has dramatically slowed, you have seen other diversified media companies.

comcast, viacom, cbs and others that have ad supported solutions as well as x five solutions have massive growth. not only in subscribers but add dollars and add revenue. many other revenue streams as well. the concern is with everybody else starting to see more and more time and audience from streaming solutions, there is more motivation for competitors to spend more. then competitors have other revenue streams. netflix spends 12 billion. what is to stop amazon from spending 13? i don't think that -- it was ok to get into that arms race when other people were not really playing five years ago and they were spending against themselves. now there is a ton of competition from companies that are ready to take the next step. caroline: let's talk about diversification. not just in offering it to gaming but you talk about this

ad model. i immediately start to think about spotify where he could have these two lawyers. the cheaper version and the premium version. spotify have getting more into podcast. what do you make of other areas in which netflix can diversify its revenue? >> i think the trifecta would be for netflix to be a behemoth when it comes to the watch, listen play strategy. they are already the leader in terms of watch. listening would be music. they have a massive consumer base oliver the world. the play is there are more gamers and more time spent and attention and revenue in gaming then tv and music combined. that is something they have already shown they are getting into. with the ability to distribute content over the internet all over the world. i feel like they are missing out on lots of revenue opportunity

and trickling down on their core confidence he. that did not work well for blockbuster. caroline: i am sure they know the blockbuster story. having seen it unfold in front of their eyes. what is your take on the global story? when you're looking at the numbers, a bit of a slow down. latin america as well. i thought these were the areas where they should be showing strength. >> what you are also seeing is in these markets, there are local players that have the rights to a lot of the local in language content. that has put over the last few years a lot of pressure on netflix to produce original content in those markets, which they have done quite well at and had some huge success and able to bring back some of that content domestically. some of these markets, you are seeing, which i think is concerning, you are seeing less opening up post-covid then you

have in the u.s. -- post-covid than you have in the u.s. caroline: really interesting stuff. still waiting for the next iteration of that to come on to their screens soon. great to have some time with you. want to talk about another story. the white house has confirmed resident biden will name a long-term google critic as head of the justice department's antitrust division. it is the latest sign the administration is preparing a broad crackdown on big tech. we know jonathan kanter has been anti-alphabet for years. what does that mean for big tech? >> the most immediate consequence if he is confirmed the deposition is this existing

antitrust lawsuit against google that has been filed by the federal government, which is going after their search business and cutting deals with apple and other companies for distribution shared i think that would be the first battlefield. there is another lawsuit that could be refiled against facebook. there are a lot of issues that are bubbling up. that will be an immediate charge if he is confirmed. caroline: let's lineup the timelines for all of these things because we felt for a long-term view administration is serious -- for a long time this administration is serious. we think it is going to be all focus and then the ftc backs away, pushed away in terms of its focus on facebook. what is the most eminent

antitrust threat facing some of these big tech right now? >> if you are looking at processes, you look at the ftc and look at congress, it takes longer time for them to act. on the ftc, you need a majority of the five-member panel to move ahead with actions. congress can take even longer to pass new antitrust laws into effect that would impact technology companies. the antitrust chief has a wide latitude to file lawsuits to push ahead with litigation against these companies. i would think you would look to that division for the most immediate action on some of these issues facing big tech bennies. caroline: interestingly, alphabet rose 1.3%. investors not worried about it. we continue our conversation about the future of the space industry. the ceo of a 3d rocket printing

start up. he started out at blue origin. that is next. this is bloomberg. ♪

emily: i'm emily china live in west texas where jeff rizzo's has achieved a victory of historic or portions, launching and landing a rocket carrying humans for the first time. this was a journey 21 years in the making. many blue origin employees

worked very hard over all those years to make this dream a reality. one of them was tim ellis who worked at blue origin for several years, then went on to found his own company. tim ellis, ceo of relativity joining us now to reflect on what we saw here today. i am so curious for you as a blue origin employee, former blue origin employee who knows so much about what went on the hind the scenes. what was it like for you to watch this today? >> it was a pretty awesome moment. i first started as an intern at the origin. i actually entering three times back to back to back. the whole company was only about 150 people at the time. because of the small size, i have kept in touch. even came out to visit us not too long ago at relativity. i have been a huge fan ever since i left. it really is amazing not just to

see blue origin fly but also virgin galactic a little before. two pretty huge human spaceflight milestones right next to each other. pretty amazing. emily: what did this all mean? having worked here, understanding how jeff bezos things, when he let it, he articulated to me building a road to space. building a space economy and a way to protect the earth. what do you imagine the next move for blue origin will be? what is the next priority? >> definitely the new shepard program and jeff has made a bold move to fly on the human capital flight. this has been in testing for a long time. they are also developing a an orbital rocket, which is to be reusable for the first stage. it is a heavy lift rocket they are launching from cape canaveral. that is going to be a huge

milestone. to your point on vision, i have talked to jeff and heard him speak about having millions of people living and working in space and moving heavy industry off planet earth. that is what inspired me to start relativity, was this idea that we need to actually build an industrial base on mars and on other planets and this is an important vision to go out there. i think there are -- there is a lot of conversation around this that this is just billionaires launching themselves into space and there are 70 problems on earth. you do as a species have to think about what is the future vision of humanity and what is this all about? it is worthwhile to have a small fraction of resources going to making this future in space happen. emily: the key to building up the space economy is obviously reusability. it is something i know a card to you while you were working here.

you're focused on 3d printing rockets. if you can achieve that, what would that pave the way for? how would that goaded toward -- how would that go toward building out the future space economy? >> i think 3d printing and usability are not mutually exclusive. relativity is designing a fully reusable entirely 3d printed rocket. a rocket that is currently nearly complete. it is this acting foot diameter dome. 3d printing is at the forefront of software driven manufacturing. i see it as an automation technology. i started the program at blue origin before i started relativity. they are doing amazing things with freely -- with 3d printing. i saw the future of being a whole new tech stock for

airspace. if we could print not just parts of the rocket and the entire thing and build a whole new way of doing things, this would be the future of space and seeing that happen much faster. going from raw materials to the rocket complete in less than 60 days is the target i have set for the team and we are going to achieve that over the next couple years. emily: if there is one thing we have learned about space is that these milestones take a long time to head. if you go back in space development history, we are going back decades. i'm curious if there were times while you were working when you thought this is so hard. i don't know if we can pull it off. if you have those moments today working on such difficult technology where we are -- literally lives are at stake. >> for sure, it is hard at a challenging. i think that is partially what draws the best engineers to

making the space industry happen. at blue origin, i always felt that jeff and the team were going to get it done. i was really confident about it. that was why i decided to work there. today is a huge milestone i hope they are celebrity hard. there was a ton of hard work. i think over the last couple years the pace of milestones in the rocket industry, satellites, companies getting private funding from venture capital has accelerated to a pace not seen before. i think that will continue as long as people execute. i think it is bringing that silicon valley in those into an aerospace world where we test things, try things out very quickly. it is about trying new ideas. you are seeing that payoff now with the pace of innovation that is happening. emily: we are certainly seeing the private rocket industry taking off so to speak.

ceo of relativity. thank you for sharing your perspective with us. we will have more on the historic trip to space from texas after the break. this is bloomberg. ♪

>> people say what in the world is this doing for us on our lives, on the face of the earth? look at all the spinoffs. look at all the discoveries. look at all the new technology that improves our lives. there is a lot of spinoffs coming from the space program. caroline: nasa administrator bill nelson outlined the benefits of this renewed interest in space exploration.

emily chang was able to watch jeff bezos head to space. the excitement seemed so palpable. emily: the excitement was palpable. you definitely held your breath for a moment. the rocket took off. there was a moment where i was just watching it and it occurred me -- it occurred to me jeff bezos and through other people were on the rocket and where they going to make it? it was intense and it went so fast. this is an 11 minute trip up and down after two and a half minutes, the separation and the capsule is going onward and upward into space. i liken it to a roller coaster but twice as long. it was quick. i want to know from brad because he has been covering amazon in jeff bezos since 1999 when it was a shell of an online bookstore. what was taking in that moment like for you? >> i agree it was electric. it was a great day for blue origin. the eyes of the world were on

the company. i am struck by how blue origin desperately needed this day. this is a 20-year-old company. it has been working on a suborbital spaceship for more than 15 years and did not have a lot to show for it. today was a validating. it puts the origin back in the game. that is a game where spacex has dominated the past few years. emily: given you have written a couple books about amazon and jeff bezos, the big question is what is next for him? he talked about spending a lot of time on blue origin. what you think the next chapter of the journey will be? two the -- >> he pledged $8 billion. i think it is a solution is him. looking at the biggest problem and having a face for technology

to solve them. we are going to see a lot of bold swings and in his personal life, he is building this yacht. he seems to be moving into a stage of his career where he just wants to do big things. caroline: emily, you made it personal in that way asking that question of him. you as a mother of four, him hugging his own mother. it was a deeply emotional moment and probably terrifying. there has also been this deep criticism of billionaires racing each other and what that money could be spent on. how do you feel he fended off that criticism? emily: he insisted over and over this was not about escaping earth. this was about improving earth. it is not about going to mars or living on another planet. it is about tapping resources and the solar system whether it is solar energy or water from the moon to power the future we

want on the most beautiful planet that we know. i thought it was interesting -- brad and i were in this press conference today. i'm curious of what you thought about him giving away all that money at the end. what did you make of that? >> i think he is at a moment in his career where he has accepted the criticism of alien ours. he is looking to create solutions. he has been -- how public discourse has turned dysfunctional. emily: would you take a seat? would you take a seat if you were offered? caroline: definitely. i would have to negotiate with my husband and my kids. emily: brad? >> after today, i might consider it. they made it seem ready enticing. how about you? emily: i facetimed with my kids

after the lunch and i decided i would have to wait a little longer. it was still an amazing day. caroline: we brought it all to life. thank you. what a long day. that is it from bloomberg technology. make sure you tune in tomorrow. have somebody guest for you. this is bloomberg. ♪

>> in places like private investing, there are still

pockets of the market where you have to be in the know. >> a very good morning and welcome to debris ghost really appeared -- welcome to us -- welcome to daybreak australia. >> the top stories this hour. driving wall street to its biggest event since march with cyclicals and small caps leading gains. >> the first lockdown --