>> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang and this is bloomberg technology. bitcoin plunge. cryptocurrency slides almost 10% on a day that was supposed to because for celebration. el salvador has adapted bitcoin

as a national currency. why the rocky start? we will discuss. plus, elizabeth holmes heads to court this week in a long-delayed, much anticipated trial. a jury will decide whether she is guilty of conspiracy and fraud. the reporter who first blew the lid off the story will join us this hour. the cofounder of one of silicon valley's most successful venture capitals, reid hoffman joins us to talk about how entrepreneurs today can become masters of their own destiny and scale. we will get to all that in a moment. let's get a look at them markets first with taylor riggs. we can talk about the markets without talking about crypto. take it away. taylor: i feel like i was the cell signal earlier this morning. let's talk about where we are in of the major indices. we felt like it reflationary trade all over again, but all of that reversed.

you saw some movement back into big tech, which has traditionally been the safe haven theme, really in part led by apple and amazon and some of those traditional safe haven sectors. if you change up the board, you see in the terminal chart we have in the terminal that really divergence between the nasdaq that was leading the gains and the divergence out of that reflationary, inflationary theme. that really sets us up for what was a pretty good day for technology. until of course we get to bitcoin and this is where i leave you. take a look at not only the cryptocurrency, bitcoin, that number really should be down 10%. that opened up the market this morning at above 50,000. take a look at what has happened. we plunged. we try to hold onto 47,000. everything else falling as well. emily: all right, thanks for

that very comprehensive roundup. as we just heard, a rocky start to bitcoin's biggest test in its 12 year history, the rollout of the cryptocurrency is legal tender in el salvador met with a price crash, technical glitches across the board. it also divided some pretty high-profile investors. take a listen. >> el salvador is on its back. it has real problems. it is a bankrupt country. they are grasping at straws with bitcoin. i don't think it is going to spread to other countries. >> whenever you are doing a new technology rollout, there are glitches. the real question is come back in six weeks or 12 weeks and let's talk about how it is working for the people of el salvador themselves. emily: but el salvador's leader remains optimistic. the president said in a tweet that his country has taken advantage of the crash to buy

the dip, adding 150 coins could take a total holding. so much to dig into with the story. i want to bring in the falcon next head of institutional coverage and our bloomberg central american reporter, who joins us today from chicago. i will start with you. what does this mean for bitcoin and el salvador? >> yeah, as you mentioned it became legal tender today in el salvador. what it means for bitcoin is that there are businesses in el salvador that will be required to accept this if they are technologically able. we have seen several businesses start to accept it, a lot of the larger ones. mcdonald's, pizza hut, starbucks. we have seen transactions go through at some of these larger chains and el salvador. also, citizens in el salvador can pay their taxes in bitcoin, as well. it is going to operate alongside the dollar for now in el

salvador, so the dollar will still be a national currency as well, so if people don't want to use bitcoin, they can use the dollar, as well. bitcoin -- businesses will be required to accept it if they are technologically able. emily: with the president saying to buy the dip, the technical glitches, should we be skeptical of what is happening here? >> that is a good question. i think it will take time, i agree with what mike said. this is going to take a lot of time and infrastructure to accept these payments at scale. it will take significant manpower and time and investment, as well. they are putting into place thousands of atm's. the payment processors and all of these different businesses will take time. i think for a country, taking a step back from what michael said even around some of the larger companies, for a country where a quarter of their gdp is based on

remittances, i think the much larger in terms of the impact it can have on the population and their ability to move money across borders than perhaps they can today, but could if they just had a mobile device. emily: that said, the population isn't necessarily too excited about it. i've seen paul's that show a lot of distrust among folks who live in the country. how widespread is that? could that really slow down broader adoption? >> sure, yeah, we have seen polls that about 70% of el salvador in's prefer to use the dollar to bitcoin. we have seen 70% have said they would like to see the bitcoin law repealed. there is quite a bit of skepticism of it on the ground. i think there is a pretty large financial education learning curve. el salvador is not a country that has a lot of its citizens using the traditional banking

system. cash is still king in el salvador. so, when you bring in this new technology like cryptocurrency, there is a hesitancy and there is some pushback, and first. we are seeing a lot of people that are skeptical on the ground, there were a lot of questions with the shiva wallet -- chiva wallet. it was a little bit of a rocky start. there is some skepticism in el salvador. emily: that said, we have learned that we can never judge bitcoin on any given day, but what do you make of what is behind the price movement? how much does this have to do with el salvador is it something else? >> it had nothing to do really with el salvador. what we saw today was very much what we saw historically with bitmex liquidations. over the last couple of weeks, you were seeing a lot of whether it is retail, institutions and overseas exchanges pile into

derivatives projects -- products or futures in products they did not necessarily know or were funding correctly and there was a leverage waterfall. cascading liquidations happened this morning. what is really interesting is that this is very much like a bullish bear day. we saw that bounce back really quickly. as was discussed earlier, we dropped down to 44,000, we are now at a support level of 47,000. i think we are very near to that 60,000 mark. we are continuing to see a lot of the 2.6 billion in liquidation, 1.1 billion within bitcoin, 7.7 within a theory him. still very bullish on long-term views for price on bitcoin. emily: if you are that optimistic, when do we get to 60,000? we have had the cofounder of crack in on the show who says we will get to 100,000 before the

end of the year. would you agree? >> i may not agree with jesse on that. he is very bullish, but that is a good question. i think we will see in the next couple of weeks. what pushed us beyond $50,000 was not the leverage, it was people accumulating and buying it in size. what we were seeing today is that a lot of these institutions took the opportunity to buy the dip, not only bitcoin, but across different assets. we will see that 60,000 sooner than we expect in the next couple of weeks. emily: all right, thanks so much. michael reports for us on the ground in central america. thank you both. apple has set the date for its biggest product launch of the year. the company will unveil its latest line of iphones and other devices tuesday, september 14. bloomberg previously reported the iphone maker has been working on four new iphones, as

well as apple watches with larger screens, air pods, and some new macbook rows. the event will be held per julie -- virtually. ford announced doug seals will be joining as chief advanced technology and embedded systems officer. his resume includes time as a top engineer a tesla. we will have more later this hour with ed ludlow. coming up, from the boardroom to the courtroom. the three renault's founder is set to face a jury and possibly 20 years in prison over her failed blood testing start up. after the break, we will speak to the man who exposed the silicon valley scandal next. this is bloomberg. ♪

>> our company is about realizing a world in which early detection and prevention become a reality and we want to take this company to a place in which because of our work person by person, everyone has the right to get access to their own health information and to be able to do so at incredibly low cost and in a wonderful way. and that means changing the way we do lab testing today. emily: that was elizabeth holmes, the first and only time interviewed her about her blood testing start up theranos, a week before the wall street journal published a massive investigation on the company. the last chapter of the silicon valley scandal is being written as we speak. opening arguments in the trial of elizabeth holmes start at a san jose courthouse wednesday. she faces charges of defrauding patients and investors about the potential of the technology.

she could face up to 20 years in prison if convicted. our next guest conducted that initial wall street journal investigation and published a book about it and is now hosting a podcast "bad blood: the final chapter." john, thank you so much for joining us. you are in san jose, you have been in and out of the courtroom. news just broke that you are on the defense witness list. what does this mean? >> that's right. the defense just posted on the docket in the case the list of witnesses that they may call during their case, meaning once the prosecution has rested its part of the case and the defense presents its own, i'm i think number six on the list. the interesting thing is that prosecutors, the three main prosecutors in the case are also on this list, as well as officials from the fda and the other federal health regulatory agency.

what this tells me is clearly one of the arguments the defense is going to make is that this was a witchhunt. it was a witchhunt by the government and the government was in league with me, allegedly, that is what they will argue to the jury, and i think they're going to try to show that those health agencies, fda and cms cracks down on theranos in a way that was harsher than they otherwise might have. they will try to make the case that i bias to them and colored their judgment and that basically none of this would have come to pass if i hadn't been in contact with them and if they had not read my story. emily: we will certainly be watching to see if you get called. you broke the story about her deception. you say she was indeed "faking it." lion, leading a massive fraud. she has maintained her innocence. her defense involves pointing the finger at her former

business partner and also her ex-boyfriend. she says he mentally abused her. what do you make of that defense? >> that is another line of defense we learned about in the past 10 days. she is going to allege that he was sexually and mentally abusive and that he effectively deprived her of her free will and of her agency and as a result, she is innocent of the charges. as i say in my podcast, it is an incredibly hard defense strategy to pull off. you have to get those 12 jurors to believe that all of those times that she was addressing audiences at the height of her fame when she looked incredibly charismatic and self-possessed and charming and intelligent, that she was never really in control, that she was a puppet who was controlled by a puppeteer and that that puppeteer was her boyfriend at the time and the number two executive at theranos. they are going to have to get

the jury to believe that this mind control was going on for the better part of 12 years. that is a lot to ask. but who knows? she is incredibly -- in my experience -- i have found she is in million and she is going to sell this hard. she will go on the witness stand and play the naïve young woman who was manipulated by an older man and who knows, the jury might just eat out of her hand. emily: things have gotten complicated in just the months and weeks leading up to the trial. some of this, which you report on in your podcast, she also had a baby, which delayed the trial. that has led to a round of different kind of speculation. talk to us about the twists and turns over just the last year here. >> right, so first of all the case was delayed for more than a year because of the pandemic. this was originally supposed to

go to trial in the summer of 2020. it was delayed several times because of the pandemic. and then it was supposed to go to trial in early july of this year and was delayed again by another six weeks because she was pregnant. she gave birth in early july and finally jury selection began last week, but the wheels of justice have turned very slowly in this case. if you recall, my first wall street journal story came out in all over 2015 -- in october 2015. we are now nearly seven years later. this is still a case that hasn't yet been decided. i'm personally anxious for this to happen and for this to move forward. emily: all right, john, host of "bad blood: the final chapter," author of the book, we will hope to catch up with you as the trial progresses. thank you. coming up, revving up to go

green. the king of sports cars lamborghini embarks on an ev push is the european union sets a deadline on gasoline powered cars. the details from the munich motor show next. this is bloomberg. ♪

>> we put our scale to work. we have been investing with our suppliers in new capacity. we expect the material supply improvements as we get to the end of this calendar year, so we will enter 2022 with a much more balanced supply-demand equation. emily: the qualcomm ceo speaking at the munich motor show about

his timeline for a chip supply turnaround. he was not the only chipmaker at that event. the intel ceo also announced his company will dedicate production at its plant in ireland to making semi conductors for the car industry. >> today, we are announcing the european foundry services at intel 16 and other nodes out of our ireland facility and we believe this is an opportunity to help expedite the end to the supply shortage and we are engaging with auto and other industries to help build on those capabilities. emily: it wasn't just chips on everyone's mind at the munich motor show. a plan by the eu to phase out internal combustion engines by the year 2035 also a key talking point. italy, home to a number of high-powered sports carmakers, has been exploring ways to shield those companies from the new rules, but the lamborghini ceo told bloomberg that

exemption isn't necessary. >> we have a clear roadmap. 2022 will be the last year of combustion engines only and then in 2023 and 2024, we will hybridize all of our lineup. then there will be the new rules and then they will follow in 2024. this is allowing us to cut co2 emissions starting from 2025 by at least 50% in comparison to today. so, we are engaged and we are taking tough positions. >> i feel like i'm going to pass out when i think about all this. it is too much excitement for me. what is that going to be like? what is the powertrain going to be? >> it will be a complete new car with a new name. it will have a new ve 12 and it will be hybridized.

it will be a plug-in hybrid. >> the big concern at the car show has been the chip shortage, the supply chain, it is not getting better, how does it look from your vantage point? >> so far, so good. we have no shortage at all. we check this on a daily basis. for the time being we are not touched by the shortage of chips. keep in mind that we are not a big car manufacturer. >> only making 7000, 8000 cars a year? >> we will be 7000 something. it will be a wonderful year for lamborghini and we are looking forward to do another best year in 2022. >> you just flew in out of milan. there was a story everybody was talking about at the car show, trying to get an exemption for lamborghini and for ari for the high-end super carmakers. to keep producing internal

combustion engines past 2035. do you think it will work? >> it is not about 2035, it is not decided yet. but what i can tell you is that it is not only about europe. we have to be prepared to be compliant worldwide. it is easy to have an exemption and everybody doing something. we have to work with what the legislature is telling us and the sustainability will be even bigger after 2030. so we have to work with the legislature, which is going to be in place. we are well prepared. hybridization is the first step for this decade. this is going to work out. we will see what this is going to do at the end of the decade. we will have a fourth model, which will be a full electric car, which we will launch in 2027, so we are going to divide the lineup into two super sports cars.

we are also looking to the opportunity of having synthetic fuel after 2030. this could be an opportunity to keep internal combustion wished hybrid alive. emily: the lamborghini ceo there with our own matt miller. we will have more on the car industry after the break, including details about ford's big hiring coup. how the carmaker leeward a top apple car executive next. plus, we will speak to the linkedin cofounder and the masters of scale podcast host reid hoffman about what he has learned from talk tech and business leaders. how the pandemic may have changed what it means to scale for good. that is next. this is bloomberg. ♪

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♪ emily: welcome back to "bloomberg technology." let's get more on fours hiring of the former head of apple's car project, ed ludlow with us. a huge coup for ford. what can you tell us? ed: dog led the special team in apple that was all around the electric vehicle. he is leaving apple for the second time. sandwiched in between his two stints, he was at tesla from 2013-2018 and then left when

the company was ramping up the model 3 production. a big name in the world of electric vehicles. you can see what ford investors thought of it. the stock had been under pressure for a few days before the holiday weekend, then we saw a pop when the bloomberg school. his job will be big. we know ford is going big on electrification, but there are other things, the future of software and digital autonomy. where has the love been for ford? it has been in equity markets. look how the stock has performed compared to apple. you can see investors are loving this. making that commitment of $35 billion to be a big player not just in electrification, but autonomous vehicles as well, and now they have dark-field. emily: we will watch to see how that plays out. thank you. reid hoffman is out with a new book "masters of scale."

he distills insight and hard earned wisdom from leaders of companies and startups like apple, netflix, google, microsoft, 23andme and more, companies that are solving some of the world's most complex problems, or at least trying to. joining me is greylock partners and host of a podcast, reid hoffman. thank you for joining us. what is so great about joining us is you have been through the trenches, you have pushed through. i am curious. you started doing these interviews in 20, pre-pandemic. how has the word scale for what it means to scale changed post-pandemic? has it changed at all? reid: it suddenly changes. entrepreneurship is all about the competitive landscape, competitive landscape for competing companies and products, for hiring talent, for developing and deploying new products. part of my work on masters of

scale the podcast, now the book, , it is all basically that you have to -- first, the scale is the technology company that sets the rules, the platform. that driving competitive force is still there. now, that way you do it is different, because supply chains are changed. hiring has changed. the way that teams up or it has changed. how all this happens in a hybrid environment is more challenging. now, the environment is still changing, maybe as we solve data and figure out vaccination and testing, may be the hybrid gets back to work as well. so it is a constantly changing landscape. emily: you interview everyone from brian chesky at kpmg for some surprising guests like president obama and a-rod.

the subtitle of the book is in fact "surprising truths from the roads successful entrepreneurs." if you could pick one thing, which one of those truths surprised you most? reid: i think the thing that probably most surprised me is the rules around entrepreneurship aren't just these silicon valley lessons i have learned, but applied more broadly. it is talking to people outside my network. tyra banks and how she made herself an enormous the successful supermodel, was approaching it like an entrepreneur. franklin leonard, creating the blacklist. a-rod. all these folks, what you discover is that these principles of entrepreneurship aren't just technology -- technology companies aren't just the people who go, i am going to start a company, but how you are thinking about creating something from nothing and that from something to this huge scale. emily: elon musk has said entrepreneurship feels like swallowing glass and staring into the abyss of death. do you think anyone can be an entrepreneur, or does it take a

special kind of person? it sounds terrifying. reid: it is a good thing to think that it's terrifying. i use the jump off a cliff and assemble an airplane on the way down. it is also like looking at the abyss below you, may be less like swallowing glass. it is very difficult. it is a combination of characteristics, risk tolerance. a combination of do you have the right safety net, which is one of the things that helps when you come from family with a bit of money or other kinds of things, that network that can support you. that is part of some of where you have an easier time of it. but i do think it can be learned. it is less taught and more learned. the experience of doing it, joining companies -- part of what we try to do in the podcast and in the app and the book is to say here are the things you can be learning, watching the journey, the experience, watching the lessons that these

iconic folks who had to, in elon 's words, swallow glass, stare into the abyss, and yet still persevere. emily: people get told no for all kinds of reasons. you spoke to sarah blakely, the founder of the spank. the founder of bevel, dealing with problems potential investors didn't understand. what investor, they thought he was too old at 40 years old to be an entrepreneur. how many were changing companies do you think are not being started or built because of a lack of access to opportunity, because of discrimination and bias, and how well is silicon valley doing to change that? reid: so the answer is a huge number. easily 2x, 3x, 4x number of companies, if we just had the talent and access right.

silicon valley, thankfully has in the last few years committed to these efforts. that greylock we have been working with leaders of tomorrow and a bunch of different venture firms and others to have a broader pipeline for entrepreneurs, for investors, for companies. we do special office hours, because network building, not surprisingly, is how we ultimately address this and have the market do it. there is so much talent and capability there and we are losing out on it. the reason why it is not so simple, for example, tristan, the reason why it is not simple for us all is because we have a huge flood of noise and we are always looking for that signal. so you have to make sure the network gets built for the entrepreneurs of color, for women, for other sources in order to build this. i think we will see progress, because people are

putting in their dashboards, a, we must be doing this, and i think the energy will catch. emily: some of the companies were talking about, apple, microsoft companies worth more than $2 trillion -- google, amazon, facebook almost there. because of their scale, they are facing regulatory scrutiny from around the world. is big in itself bad? can scale potentially be one's downfall? reid: that is a great question, and i am certainly getting pressure everywhere. governments are uncomfortable. on the other hand, when you get to how to get the investment in the future we want, for example, how do we get artificial intelligence graded? because it will create robotics. if we have any hope in the u.s. of a return to manufacturing, it is through artificial intelligence robotics. that will come through investments at microsoft, that

alphabet, that amazon, that facebook are all doing in order to make this happen. so i don't think big is necessarily bad. what is too big? the question is, is it helping the rest of society? part of the reason i use manufacturing as an example is, we need a place where all of society is brought along, where the new technological platforms for new jobs, for new opportunities for people. and that is something we in the tech industry need to pay a lot of attention to. not just what we do globally by creating great export products brings back capabilities to the u.s., but also, how do we help these industries? because these industries are in the process of technological revolution. it doesn't mean that sometimes it isn't bad, but big by itself is not bad. emily: i will ask you a question that you ask guests on your podcast, and i am really curious

for the answer. what advice would you give to your high school self? reid: fortunately, as you know, i actually wrote a book about this. i gave a commencement speech at my high school. . i was scratching my head, like, what is a technology entrepreneur-investors say to hate school student who will -- going to say to a bunch of high-school students? that the notion of a career ladder or escalator, those are gone. it is now like a career jungle gym. you have to approach your life like an entrepreneur approaches a company. as for your earlier question, that doesn't mean everyone start a company. your approach to that. one view is, which smart risk, i take that give me an ability to kind of make interesting jobs in my career. look for those risks. a smart risk is not quite as risky as it looks.

and it has a good upside opportunity. the reason other people are not doing it is because it looks risky to them. thinking about that as career advice would be something that i learned the hard way and would have loved to apply earlier. emily: reid hoffman, host of "the masters of scale" podcasts, out with a new book today. greylock partners, thank you so much for joining us. coming up, up and away. this aviation company is closer to faa approval for its solution to urban air mobility. we will speak with the ceo coming up next. this is bloomberg. ♪ his is bloomberg. ♪

emily: an update on the story we have been following. the beijing city government is denying a report it is considering an investment in daily bag that could put the chinese ride-hailer under state control -- in didi. part of the beijing tourism group would acquire a stake. this comes amid a swath of penalties the beijing administration is considering for didi over data concerns since going public. meantime, remember one without the jetsons was a whole world away? well, flying taxis are getting a step closer to reality. this aviation startup archer just announced it is one step closer to securing faa approval for their aircraft certification process, a critical milestone as the race to commercialize flying taxis heats up.

i am joined by the chief operating office. adam, thank you for joining us. the faa, this is a big deal. what does this mean for our church next? >> thanks for having me on today. archer is building electric takeoff and landing vehicles. vehicles that will be affordable and designed to be a safe as commercial airlines. -- as safe as commercial airlines. we are certifying them with the faa and today we are not the first major milestone in this process by receiving our g1 certification basis. we believe we are one of the only companies in our industry, really in the world, to have accomplished that step. it is significant because this is one of the hardest part of the certification process, so it is a really big deal. by approving archer's g1 certification, it is showing that the faa has been very forward thinking and helping working towards sustainable

forms of air transportation. emily: what do you imagine a commercial rollout would be? jb aviation which is also working on air taxis says it will be ready in 2024. adam: our certification timeline follows a similar pattern. we think we can get through the certification process by the end of 2024. we announced two of our early launch city partners where we will be deploying the vehicles, los angeles and miami. emily: how does your jet differ from others? adam: the industry of urban air mobility has the potential to be a big one. if i can just focus on the archer perspective, it is really a pretty unbelievable amount of momentum across the entire industry, specifically within archer. we have announced a huge partnership this year with united airlines where they will

be purchasing $1 billion of aircraft from us. we also have an option for another $500,000,000. we also have a merger. we are looking at the partners that have come into the modern era mobility market that are really helping this industry come to its form, and it really set up for quite an attractive positioning for the industry. with the city partners, between los angeles and miami, we are getting closer than many people would actually think. emily: you have been embroiled in a court battle with another company called wisk another, air travel company. they claim designs were stolen from them. can you give us another update? adam: today it is really about the momentum we have seen with archer. we are very pleased with the

court's really denying it. the case has no merit. emily: talk to us about what the money for that will allow, and the vision really. paint the jetsonian picture. how people will be riding in a regular air taxi. adam: the industry has come together, a combination of three big things. one is regulatory. there is a framework in place that will allow companies to certify these vehicles. the second is, you see this environment now where cap it has become available to hardware companies. looking back historically, financing hardware companies was pretty challenging. so you have this set up where the third leg of the stool is technology. it has really evolved.

the advancements we have seen with electric powertrains, batteries and electric motors have gotten us to this point where the core ingredients are in place to have the industry come to life. so now it is all about getting to the certification process. we are making her way through that process. that g1 certification is a good way to help the industry understand that there is a timeline now to start working towards, and helping everybody understand that the market will come to fruition, as we expect, in 2024. the progress the entire industry has really seen across the combination of technology and capital and regulation all coming together, i think is really important. also, you have seen recent announcements from archer with the air force getting involved in our testing. we continue to see additional industry partners get involved. the industry has become a very important asset to the u.s..

we are entering this new golden age of aviation and i think the next big aerospace company is built here in america. emily: archer aviation's adam goldstein. we will keep our iron. thank you for joining us. two of the biggest aerospace companies in the u.s. have invested in a spacecraft refueling startup. northrop grumman and lockheed martin joined in a startup worth more than $10 million. the company plans to launch two refueling shuttles early as next year. after the break, disney's new marvel film breaks barriers at the box office and in diversity. we have all the details from los angeles next. this is bloomberg. ♪

emily: "shang-chi and the legend of the ten rings." the first marvel film featuring an asian actor as a star broke records for a film on labor day, making an estimated $90 million in the u.s. and canadian theaters over the four-day weekend. getting us to discuss is entertainment reporter chris palmeri. . what should hollywood filmmakers be taking away from this? chris: this is another data point in a series now that suggests that by including more people of color and more high-profile female roles, people will come out. if you look at the marvel movies, black panther, captain marvel, or parasite winning best picture last year, and now this, there is plenty of information that shows audiences of all kinds weren't a really diverse cast.

emily: you look at the cities where this was particularly successful, cities with high asian populations like san francisco, honolulu in my home state of hawaii, vancouver, your reporting talks about how this film was a risk for disney. at what point do filmmakers in hollywood realize it is not a risk anymore? chris: i think that message is getting out. by the way, there is a really terrific chase scene shot in san francisco that is worth the price of admission alone. [laughs] when you see these numbers, this was a film disney decided to put only in theaters, on labor day weekend which is not historically a big weekend for moviegoing. for that reason, it seemed like it would be the top grossing labor day release of all time, but it blew past everybody's expectations with $90 million and helped lift the whole

weekend. we have not seen these numbers for six or seven years. pandemic tossed aside for this weekend. emily: is it just this weekend, though? only in theaters. it did well. is this an inflection point for movies post-pandemic, or an aberration? chris: it is easy to get excited with these big numbers. we saw this with 'f9," the fast and furious sequel, and with "black widow" in july. my hunch is that that is not the case. if you have a movie people want to see, a lot of people wanted to see shang-chi, it was only available in theaters like "f9," as this movie was, then people were going to come out. it will do well next week and as well because there is no way to see it online, and it is a good movie. does that mean three weeks from now when there are not any good movies -- i mean, they are

already postponing films like the new "top gun" into next year. it is not clear the industry is out of the woods. emily: what are the neck dig releases you are watching for over the fall? chris: that james bond one. that would be bad news for the theater industry. it is still touch-and-go. emily: ok, chris palmeri, our entertainment reporter in l.a.. thanks as always. that does it for this edition of "bloomberg technology." make sure you tune in tomorrow. we will be joined by the ceo of ui path to talk about the company's latest results. i am emily chang in san francisco. this is bloomberg. ♪

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