this is "bloomberg technology." emily: coming up next hour, more bitcoin. it's the microstrategy way. we ask our guest why he is doubling down on the cryptocurrency again. plus, what he has to say on the

ongoing battle between coinbase and the sec. and, spacex makes history. luncheon for civilians on an excursion that could usher in a new era in humans based flight. -- human spaceflight. -- ended the day much higher than we were for the majority of the session. the s&p hit positive territory for a little time. they bought tech, biotech, semi conductors. that put the nasdaq 100 into the

green. a lot of that has to do a semi conductors. i want to highlight electric vehicles. yesterday, i came onto the show and said electric vehicles are outperforming. today, tempering such of the -- some of those games -- gained. today, we had august sales coming in at 0.7%. that is compared to an estimated decline. we are seeing the role the tech place. that's the white line. e-commerce been into retail sales. blue is the retail sales line. you can see the white has overtaken the blue. e-commerce has overtaken walking into stores. i want to show you the other pieces of tech in particular. this has to do with big tech in the u.s. versus china. the divergence continues and

that something to watch in the days ahead. emily: thank you so much. microstrategy making another big bet on big -- bitcoin. the company purchased over 5000 more bitcoin for $240 million. this adds to its expansive portfolio of 114,000 bitcoin totaling over $3 billion. with me now is the microstrategy founder. i said it's doubling down but it's more like tripling or quadrupling down. why now? >> a year ago, we had a 500 million dollars software business and $500 million in cash that was generating 0% yield. today, we have 500 million dollars software business growing 10% per year and a $5 billion bitcoin business that has been growing north of one hunter percent per year. our strategy is to acquire and hold bitcoin. we have told the market we are going to do it with equity

offerings, convertible debt, senior debt, junk bonds, and cash flow where appropriate. we saw it as a great opportunity. over the past quarter, we sold $400 billion worth of equity at a price that allowed us to buy bitcoin in a way that we thought would be a premium to our shareholders. we try to choose our spots. at the end of the day, if you add another 10,000 bitcoin when the price goes to 100,000, that's a lot of money. when it goes to a million, it's a lot of money. there is no one buying microstrategy's got -- stock that doesn't believe bitcoin is going up. if you have risk your money to buy microstrategy, you would rather us by more bitcoin then last. emily: yet there is a looming regulatory crackdown. let's hear this from the sec chairman.

>> is it you are that stable coins themselves can be securities? >> i think they may well be securities. to me, a stable point doesn't meet the second prong of the how we test that there has to be an expectation of profits from the investment. if it doesn't meet the test, it looks to me like it is not a security. maybe you have a good argument for why some are in some were not. my point is, i think we need to have clarity. emily: are you at all concerned that regulators could regulate the exuberance you were talking about earlier out of the market? >> i think the big winner of that entire hearing was bitcoin. the consensus emerging is that bitcoin is a commodity and bitcoin is property. if your use case is to buy bitcoin as a long-term store of value than there is broad-based consensus and support for that

across congress, the senate, the regulators, the administration, and industry here and abroad. there is a need for clarity. there is consensus that people think the innovations of cryptocurrency could be beneficial for the next hundred years. they are good for the industry and the western world. there's is also evidence that we could benefit from clarity. senator toomey was pointing out that we would all benefit from clarity. i think the sec would probably agree with them. over time, we could expect that we will see more clarity with regard to all digital assets. i expect we will reduce the volatility in the bitcoin space. it's going to accelerate adoption of bitcoin because these are good things for the industry.

emily: when you see the biggest crypto platform out there taking on the sec, does that raise concern if you are just considering getting into the market right now? >> coinbase is the largest publicly listed crypto exchange in the united states. the other crypto exchanges were all offshore. coinbase is probably frustrated. they would like to see more clarity coming out of government regulators so they can figure out what they can and can't do and they would look to see it faster. i think that is consistent with the entire industry view which is the industry will benefit from more clarity. i think the fact that coinbase became public this year was a good thing. coinbase doesn't offer the same range of products and services that you can get from offshore

crypto exchanges. i think that they would like to compete in a crypto industry, but there're still murky regulations as to what's allowable. if all of the rules are clarified for everyone and everyone competes by those rules, that will alleviate some of that frustration. emily: meanwhile, there was a 17 hour outage this week. you have someone saying an employee was trading and fts on inside information. does that suggest that this technology isn't ready for prime time? >> in the market, there are three things. the blue-chip asset, the institutional grade asset which is going and if you want to buy something and hold it for 30 years in lieu of a bond or cash or other forms of credit, then bitcoin is that commodity. it's in a class all by itself. then, you have unicorns.

you have salon and others and theory him and they are like airbnb and uber of this space. there's a lot of money into risk. if you are softbank, abb get into those kinds of businesses and we don't know how those would end. and, you have the small ventures. the 6000 project looking for future. i think they are all competing in a world where there is murkiness about what is appropriate and what is not. microstrategy only invest in going. -- in point. if you are an investor, the only investable asset you can invest in is bitcoin for the reasons you pointed out. i think the sec is justified in having interest in this space for the reasons you point out. to the extent they clarify the rules of the road, i think it's going to make it a safer more welcoming environment for retail

investors and for institutional investors and the industry will evolve and mature in that way. emily: anytime you have demonstrators in el salvador burning and atm, protesting the countries adoption, protesting the president pushing the adoption of bitcoin, what is your take on this kind of resistance in just one country and for the rest of the world? >> first of all, the big news is 500,000 people in el salvador downloaded a lightning bitcoin wallet and they received $30 worth of bitcoin and that is an extraordinary world shaking event. that indicates just how rapidly bitcoin and lightning can spread. there are sparks in el salvador and politics. there is an opposition party in the country. there are opposition parties in every state of the union and every country in the world.

as the government takes one position, there's going to be an opposition to that position and it is natural to see that. i think that the way to think about bitcoin is bitcoin is the most disruptive technology of the decade. it is making people's lives better, but it is something you can't avoid. that means that everyone is being forced to have an opinion. you see some sparks because it is moving quickly. or moving faster than the speed of sound. it is going to create shockwave because it is changing the world so quickly. emily: you have made the biggest bet of them all. great to have you back with us. coming up, combating misinformation one tweet at a time. why a twitter post by nicki minaj is getting the white house's attention. this is bloomberg. ♪

>> as we had endorsed because the weather is getting cooler, that raises the possibility that we could see a surge in cases that haven't seen it in the previous weeks. i am less worried about the northeast compared to the southeast because of the higher coverage. emily: john's hopkins scholar there voicing her concerns for winter. with many still unvaccinated, it's getting tougher. misinformation about the virus and vaccinations continuing to

spread on social media. white house officials are in contact with nicki minaj about a comment she posted on twitter. she is saying she will not get back until she gets clarification. she said she has a family member who got the vaccine and is impotent because of it. how has the white house reached out to her? what are the conversations at this point? >> this one was surprising. it came out of nowhere. we had angelina jolie the white house yesterday and that was not the celebrity storyline. this tweet and subsequent tweets including amplifying tucker carlsen, the influential fox news personality who spews a lot of misinformation. nicki minaj doubling down. the white house has reached out

to her people, low-level they are pumping the brakes and say we would look to put you on the phone with one of our doctors. she tweet yesterday she is going to the white house, she had her outfit picked out. it sounds like that's getting a step too far. the white house wants to put her on the phone. to talk to a doctor about this sort of thing because she has such a huge following. this is the sort of whack-a-mole type situation where they see things pop up and before they can respond, it's everywhere. this has been one of the criticisms of academics the administration has been slow to combat misinformation and doesn't get into the trends based on -- emily: talk about getting into the trenches, the white house is trying to do more to reach a younger audience, getting dr. fauci on tiktok. how is that working? >> we will see. the pickup rate for vaccines at that age are still a problem. tiktok users tend not to be

retirees. it has been inching upward. they missed the july 4 target. they missed it in particular and blamed young adults. name a platform, they have tried to put dr. fauci on it. the belief is they have others, less high-profile ways. they believe that the way to counter misinformation and disinformation is trusted messengers. the problem for the white house is that they are not trusted messengers. they would rather listen to random tweets from someone they have never heard of. they are hoping that community mentors -- i don't think we should lose sight of the fact that it is working to some extent. 75% of american adults have at

least one shot. that is up a fair bit in the last couple of months. it is down to an absolute crawl, but it is still moving. emily: good to know they are trying to meet people where they are. thank you for that update. coming up, spacex marks a milestone. this is bloomberg. ♪

emily: spacex launched its inspiration for mission when state marking a milestone for the space industry. the flight is the first time an all civilian crew has led a space mission. joining me is a three-time shuttle astronaut.

rate to have you back your on the show. given your career and your many days in space, how significant is this inspiration four nation in the span of space history? >> it's incredible. it is ground breaking and we were so excited to watch. we all watched last night. what's good for spacex is good for the rest of the industry. we believe in a lot of competition, so we are also vying to get some of that business as well. it does not detract from what spacex has done in this historic flight. emily: they aren't just tried to get a good view. the crew is performing research and experiments in orbit. what is so valuable about that? speak to the folks who don't understand why we are investing all of this time and money in space? >> a lot of different research

is very applicable to what here on the ground. we talk about how viruses grow or how cancer cells grow in space. the growth differently -- they grow differently. we can study them better. we can make medicines. we can learn how to -- organs in space. so we would not have to wait for someone to die to get an organ. we can print them in space than in the back to earth for someone who needs them. there's a lot of different potential for using research today to make a business for tomorrow so that companies like ours can build space stations. emily: you have been to space

multiple times. 33 days in space that you have spent. talk to us about the toll that kind of travel takes on your body. the astronauts will experience on the way down and once they return? >> on short missions, it's not all that difficult. there are some short-term effects. a lot of the fluids in the lower half of your body, in your legs and your torso go through your body and you will feel pressure in your head behind your eyeballs from the fluid shift. over a couple days, you lose the body mass, the liquid and you feel pretty normal again. another thing that can happen right away is you get something called spacex best. that is similar to seasickness. that's why i am an advocate of staying longer, because the time you adapt to microgravity, you start having a good time and enjoying the view and what you

are doing up there. then when you come back, you have to readjust. you have to get the fluid into your head again so you won't pass out when you come to the ground. you won't have the nausea anymore. it will be different from them. they will have to have parachutes and splashdown in the water. then, they will wait until they are rescued by the ship. it's a little bit different environment than what i'm used to coming down in the space shuttle. emily: meantime, your current company is working to pioneer a low earth orbit economy. show us the vision and the timeline. >> that vision is to have a space station that we talked about earlier they could house people. people who want to go just for the experience. imagine a hotel in space.

we could house scientist who want to do basic research and also a manufacturing facility. we could have habitats able to produce organs that we were just talking about. then the liver those back down to the earth. we also use a space plane and you can see those behind me that will come back and land on a runway. we can bring people back rather than splashing into the ocean or ending under parachutes on the ground, we can bring them back to the runway much like shuttle did although we will have more flexibility in that we have ways that provide a smoother landing. anything that is delicate like organs or other things we have built up in space that are fragile, we can bring them down to the earth for the customers that we have. emily: fascinating.

we will keep our eye on you and follow this. thank you for joining us. cathie wood's etf is selling tesla shares. it sold about $62 million of the shares wednesday. for the month, they have unloaded 260 $6 million worth. tesla is still there biggest holding. coming up, gen z is about a lot more than tiktok and podcast. why investors should take a closer look into the next generation. this is bloomberg. ♪

♪ emily: welcome back to bloomberg technology. kriti gupta back with us for an update on the markets. kriti: you're about to do a segment on the future of investing so i thought why not start this off with the latest trend in investing, retail traders making their presence known in the stock market. i want to revisit the meme stock mania in february. you can see amc surpassing some of this gamestop in february but it is not the only one. you have new meme stocks and retail trader bids emerging.

the latest retail bids. you can see the gains are 60% in one date but iron in particular exceeded apples trading volume in the premarket. three of the four largest in terms of volume. telling you those influencers and retail sweaters are making their presence known even before the stock market opens. pushing it forward to tomorrow, looking into a terminal chart because tomorrow is quadruple day. futures contracts, options expiring at once giving institutional traders the options to get in and out of positions easily while the volatility has more liquidity. that is where you see a little bit of -- something to look forward to. anchor: thank you so much for that update. back to gen z. best known for its influencers, socials shopping habits, and

sustainability. they are interested in reshaping the future of investing. gen z will virtually host thousands of attendees from 71 different countries to talk about the next generation of investing. an investor and founder of gen z joins us now. you started this global community of young people retreat and through stack. tell us about the vision and how this came together. guest: i was the youngest investor hired on their team. what i found quickly was are wanted to meet other people and founders. during the pandemic. it was harder to do so because people were not doing all the things they do in cities. i turned online to community and said thus the community has grown from a group of 30 friends

in november 2022 over 10,000 people all over the world. it is a movement. we have tons of initiatives in the summit is coming tomorrow which we are excited for. you mentioned it is 70 people from 71 countries across the world. 2300 attendees. i am the first of its kind, a summary -- summit for gen z by gen z. we are excited to bring it to life and community and grassroots is at the center. emily: your 24 and working with partners investing for a long time. what do you know that they do not? meagan: it is what you know but it is a different perspective. when you invest in a company built by gen z, i am that customer. it is 140 $3 billion in spending power. we interact with technology in a different way and are spending in different ways. it is a different type of consumer habits as you have seen with every generation and gen z thinks differently.

there is authenticity where you are putting your values behind purchasing but dollars and a healthy way. it is providing a different perspective because you are the consumer because you are gen z. i am really grateful to be on the team with gen z founders around the same age every day and being able to provide a different perspective. when i'm adding value to founders and we are working with them and emily: beyond. emily:emily: you talk about thousands of investors from gen z. what trends are you seeing in terms of where they want to poke -- but their money and what their priorities are? meagan: the genesee vcs article --people didn't know jen's ears were old enough to invest. the topped trend was the economy. it is huge. there is 50 million creators all over the world and there will be more that come to market. there is a great status of

children in america wanting to become youtubers. the people gen z look up to our influencers and creators. we are interacting with creators in a different way that generations before because we are the first jetted -- digitally native generation. as the market expands, there will be more services to serve the creators and gen z is really uniquely positioned to stop the trends early and add value to the founders. the creator economy is one i think -- when we think about sustainability and improving the planet, that is really important. things like products for the next generation of consumers and workers, there is a lot of really unique trends that gen z is at the front and center of that we are attracting. emily: we did a series on tiktok this year and spoke to tiktok stars like josh richards who is trying to use his platform to invest with other venture-capital forms -- firms.

what do you see as the role of influencers and creators in this movement given that so many of these young people have amassed these giant followings they can market to? meagan: when you think about creators and influencers, your brain your platform to life in a different way and specifically for consumer companies, it is interesting. you have one million followers on twitter or tiktok, that is where your users are. you can become a really unique organic acquisition engine for companies that are trying to target your users and gen z plays a role in that. the different type of creator but the future of the seat and technology is really community led and any influencers and creators play a role and it is you are really helping founders that are trying to reach that demographic and a new way that is authentic to the user and

that is important for gen z. it is reaching user. that is what resonates. it resonates with me and my friends and influencers go along with that. emily: this summit this week, what will folks learn here? talk to us about the panelists, the discussions you're planning to host? meagan: the gen z vcs community and the summit is a combination of different types of group. we have full-time working ventral capital and founders -- venture-capital and founders building for gen z or who are gen z and students who want to enter the space though a bunch of different kinds of people. the content is geared toward this young generation of leaders. for founders, many of them are first timers. they are looking at a cofounder and looking at hiring people two times their age and building an executive team. what does the future look like for investors? for students, how do i break into the industry and create

ways to make vca antech more accessible to everyone? the content is geared specifically and tailored in different ways and again, it would develop with the community which is why it was so special. it is authentic and organic and coming from what i hear as an investor every day and also in the conversations with friends that are gen z investors with other funds. there is no context that exists that is tailored for these groups and we are creating it. emily: for fall two may not be part of summit tomorrow who may be do not have that much money yet but what to get into something, they are thinking, should i buy gamestop or something else? what is your advice? meagan: it is easier than ever to start investing money and crowdfunding prop -- crowdfunding platforms like republic. you can start angel investing earlier and start learning. that is the key. know this stuff exist to start.

knowledge is the first point. join the summit, tune in, and learn what it needs to be an investor in the founder. that is the best way to get started. then you can start investing in your own way, whether the public markets or privately. the most important thing is learning and growing and building that skill set. emily: thank you so much for joining us. learned a lot from you today. appreciate you taking the time. meagan: thank you for having me. emily: hip-hop mogul jay-z is embroiled in a battle with amanda peet -- a man he cope i did talking kidney --a man he cofounded rockefeller records with. it is over and nft. cracking the code. we will speak to the cofounder of online learning giant baidu on its acquisition of tinker to

expand into the u.s. and when the company might make its public debut. this is bloomberg. ♪

emily: india's most valuable start up has 100 million students on board, more than double last year. it is expanding to the united states hoping to reach 60 million more students in 100,000 schools. online education is paying $200 million to hire a new coating -- coding platform called tinker

for kids kindergarten and up. joining us now is the ceo. like your joining us from india on an early morning there. talk to us about the growth you have seen over the last year and how the pandemic has driven that and how you've met students where they are. co-ceo: fintech has been on important -- unfortunate. this is reported in terms of numbers. in the first four years, we had -- million students. in the last 60 months, we had 55 million more students. it has been put in the spotlight and i think online learning itself, what does not happen in this case happens in weeks and days and we have stakeholders transitioning online overnight. these features and the students, they also the benefit of online learning. since schools were shut down, --

it is an opportunity here on how effective learning can now be and i would never say the future of learning is 100% online. it is going to be blended like a combination of online and off-line learning but students would learn depending on their style so that is what technology does to education. it enables and personalizes so that everybody can learn and also learning also will be off-line. i mean there are certain skills like team spirit, social skills like empathy, they can only be learned off-line. the benefit is that you're going to see off-line learning. almost all the future will be blended. you see the world coming together and the more you have and the choices in the hands of learners.

emily: there are a number of online education platforms that have seen growth for the pandemic. con academy for example. what makes byju different and what are you hoping to get in the united states? divya: if you look at what we have done, we have 20 programs from the roots of's for -- age groups of 4 all the way to 18. there is a lot of potential to help students and help learners learn better. what do we do differently? [indiscernible] teachers who have started this, it won't be long before they have a strong team of six cofounders. teachers have started the company and they use technology as an enabler to enhance and personalize and accessible. we are able to take learning to

millions of students. i use technology in two ways. to make learning more engaging because for a student, if they have to be a learner, they have to love learning. it has to be in a format they like. movie-like videos, game-like interactions, all this so the student stays engaged and effective so we see better learning outcomes. that is how it is different but if u.s.-made out how are we expanding and planning to do more? it is by giving the students many more choices in the way they learn. the organic group would be investing in r&d and trying to create better learning products. in the same age group, by acquiring -- [indiscernible] it is a product with the acquisitions we have done so far.

[indiscernible] whether they want to learn with the teachers or they want to learn on their own so you want to get more choices to learners. emily: you just announce your buying tinker -- tynker. we know how important coding is but i can tell you as a parent it is not necessarily being taught in schools. what is your objective? divya: it is considered very important as a scale. -- skill. my then-6-year-old, when he started to learn coding, i could see how it helped him do better mathematically. i think the joy of creation, the joy of building, the joy of seeing something that you have made come to light, that is what coding gives you and it is not a

topic -- it is connected to math and science and literally every subject so that is the beauty. i would say it is almost -- skill. you can also call it an essential skill. emily: any concern growth could slow down when the pandemic six sides -- subsides and everybody is back full-time with no concerns about being sent home to work remotely? divya: the biggest challenge for us before the pandemic was -- if you had to ask me what was that challenge, that is what the pandemic did. it put it in the spotlight and we saw people in the benefits of online learning. when schools reopen, if u.s.-made, i do not think the importance of online learning will produce. i think there are subjects that can be taught better online like science and math but also

students have missed out on school the last year. there is playing and mental loss. there is a lot of learning outside of the classroom. which kids need to go to school? my answer to you would be there is so much awareness about online learning now, it is only going to get better. emily: co-ceo. thank you so much for bringing your passion and energy to us this morning. i know it is an early morning for you there. coming up, the role of the nasdaq. we will hear from the ceo of the taiwanese startup about their spac mayor -- merger implants to take over the chinese and southeast asian two wheeler markets. los angeles county is now requiring guests attending large outdoor events like concerts and ballgames to show proof of

vaccination or a negative covid test from the last 72 hours. businesses impacted include comcast, universal studios, six flags magic mountain. they need to comply by october 7. this is bloomberg. ♪

>> our current view is it will not begin to get better until at least into the middle part of next year. it is still very fluid so we don't have a high degree of confidence yet. emily: outlining its possible timeline -- timeline of when supply chain issues could ease. a similar prediction from volkswagen on the sector shortage. that price -- crisis has caught auto productions worldwide. the tiding of inventory has led to soaring prices helping vw u.s. business turn a profit in

2020 for the first time in eight years. the taiwanese startup will hit the public market vs back through a merger with -- the latest firm to cut a deal with a promising new company. it is best known for its electric smartscooters and battery infrastructure. it pushes the valuation to $2.3 billion and it is targeted to close and the first quarter of 2022. speaking with stephen engle to talk about how the company was -- will scale up and expand to other markets. ceo: we recently announced partnership in china and india but expansion always takes global capital. always making sure as we work with our partners, we operate with the high standards with the absolute transparency so that we can stand shoulder to shoulder with our partners as we commercialize and there is no better market to do that then

the nasdaq where technology giants like microsoft and google's of the world are all listed. spac's are designed for a company like ours with emerging fast growth. takes a little bit of understanding to capture in the traditional ipo route. you get 20 minutes to tell your story but after all, this is the decade of electric mobility and we will start off on the right foot. stephen: as you said, it was a merger this year of go jet, a food delivery, and tokopedia with key investors themselves, with everybody from alibaba to google. facebook, visa, a whole listing of international companies that invested in those two companies. what are they going to bring? i would assume southeast asia is

going to be your next big push. horace: southeast asia is the third largest market. the largest being in china where about 290 million vehicles turned from the previous battery solution to the more efficient and powerful solution which is where we come into play with the battery swapping. the largest tubular and electric maker in china with 23% market share in a partnership with the largest -- together we will create this open network that allows customers to swap and go as far as long as they want. stephen: you are announcing in the last few weeks with dcj, too large to wheel makers gas powered and electric. what are your goals for the china market and will you bring that swappable battery

infrastructure and is it scalable in the china market that has dominated those two players? horace: we see ourselves growing quick but in a controllable way into china. the team is fast. it is ready to deploy. we are going to start with a private market. the we will quickly go into -- after that and expanding to half a dozen cities next year and franchising are solution into many cities after that. emily: that was gogoro ceo with my colleague stephen engle. that is all for this edition of bloomberg technology. tune in tomorrow joining by jason kelly and andre lamarr eight from manhattan venture partners. much much more on the show tomorrow. emily chang from san francisco. this is bloomberg. this is bloomberg. ♪

>> welcome to daybreak australia. i'm paul allen in sydney. counting down to the major market open. the top stories this hour. a volatile day on wall street as stocks swing away at friday's triple witching. ever grand looks to, the world's most