>> 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 san francisco and this is bloomberg knology. airbnb says not just a travel recovery but a travel revolution is happening. in that business and leisure travel will be forever changed. plus, it is opening new economic

opportunities for women. ceo brian chesky will be my guest. disney shares sink the most since may as bob joe beck gave investors some unsettling guidance during an event for goldman sachs. and they were event for netflix. the company on the verge of making one of its biggest deals ever to buy the catalog of british novelist roald dahl. and how covert is changing the future of tech investing. i'm speaking with the revolution ceo about how it a vision is moving to middle america and beyond. all that ahead but i want to take a look at the markets with kriti gupta in new york. we saw a lot of movement in the last few minutes of trade. what was happening? >> we came into today with a pretty strong bounce in futures. a lot of green on the screen. it kind of faded to a point where we ended flat on the day. a lot of people were saying go going to have the by the debt

mentality show up in here is where you sell the tug-of-war between the bulls and the bears. the bulls wanting to buy the dip and continue the recovery trade. the bears sang the selling, the seasonality is still a factor and you have to go into the fomc tomorrow. a lot of that is positioning. what led to trade with the tech stocks. as you can see with the faang index ending. the bid lower with the yields up 1%. let's start with the tech trade as a whole. it was not just tech that rallied. you sought become the big tech bundle trade we have been talking about. whether it was chinese adrs, those in the green by over half a percent and semi conductors. even to the point where autonomous vehicles, electric vehicles, those were in the green as well. pretty significant that the tech bundle trade was doing well. what was not doing well,

cryptocurrencies lagging the broader market. which brings me to how they are reacting to stocks in general because today they were not on the same page. this is a correlation that shows the trend is building higher and higher. what does that mean for stocks? it means the volatility is correlated to bitcoin. he could mean there is more volatility in the future of the s&p 500. let's get to the micro picture with ed ludlow. >> some of the big tech held momentum. uber up 11.5 percent on tuesday. weakest gain since november 4, 2020. the company sang adjusted ebit in the fourth quarter will be a loss of $25 and a $25 million profit. that is a milestone we have been waiting for for a long time. activision blizzard, the two day decline we have seen taking the stock to its lowest level since

june 2020. the catalyst being they disclosed a probe by the sec into workplace practices compelling that. you have top executives departing from the company. a real ion this company as it navigates some difficult times in the gaming industry. interesting to see where investors went. i don't know if there were just some favorite picks but twitter, on tuesday up significantly. the most since late july. it was not translated to any other social media stocks. facebook up hey half of for percent. in market they gave up by the end of the session, you see a big tech doing well. emily: thanks so much. google employees are pushing back on the search engine giants handling of the russian election. boston company for lung the voting app for roaches of position leader.

apple remove the app as well. both have been following the story. this app was created by allies of alexei navalny. opposition to president putin. have we seen something like this before from apple and google in particular or is this a new threshold? >> this is a unique circumstance. apple has been under fire and facing criticism for certain app removals in china. they have removed the new york times. they removed other applications. they even shut down their own media stories. in terms of russia, this is a newer situation. the bony, very significant. it is gathering a lot of headlines. a few months ago, we saw apple follow a new policy from russia where russia once some of its covered -- government issued apps highlighted when you

install or set up a new iphone so apple worked with russia to implement those guidelines. in terms of this situation, it is a hot button issue and this is definitely a new stone. emily: there are concerns this could have a deep impact on the russia election. facebook also under pressure from the russian government since the arrest of navalny. told to us about the status of that. >> russian regulators are saying if companies like facebook, google will do not remove content they deem to violate local law, those companies could be fined between five and 20% of the local revenue. facebook for example often times does take down content if it violates local law or restricts content in that area. russia is a pretty regular requester of this type of thing. it was almost 2000 pieces of

content facebook restricted in russia. compare the any of the u.s., there were only 12 pieces of content. it gives you a sense of how often this does happen in russia. these fines could be a big deterrent of companies trying to walk the line of trying to support free speech but also operate in countries where that is not always very easy. emily: google took a big stand in 2010 nearly exiting from china. we have not seen the company or any of these companies take a stand like that sense. there are concerns that russia could be the next china for these big tech companies. these companies are facing government scrutiny around the world. not just in russia. have we heard anything from apple about this russia situation? are you expecting to see more incidents like this? >> apple and google have not commented officially on the

matter. for apple, russia is not a major market. it is not one of its areas. android is the bigger operating system in russia. it is more than issue for android phone makers. not google is a company but devices that use google play store. samsung devices, lg devices. what we have here is a potential domino effect. we saw china peered now we are seeing some of the same circumstances crop up in russia. apple has given icloud data to a company in china many have set are associated with the chinese government. you are seeing a similar pattern begin to develop in russia. who knows what the next country is going to be. apple maintains it follows the local laws in the geographies where it does business. it is removing this app -- does removing this app mean they are complying with local laws or does it mean they are bricked after they are complying with

requests from the kremlin? in china, these are regulations they are following. the app store issue, that was a local wall they were complying with. they seems to be a new area and i'm going to be interested to see if there continues to be this apple russia dialogue. there continues to be changes the way apple devices are used because of the kremlin. emily: meantime, facebook facing a bettering of investigative stories at home by the wall street journal talking about the failure of facebook moderation average. talking about the company, a executive commenting on the negative effects of teenagers on instagram, facebook. facebook has responded to the story multiple times. there was a statement out over the weekend and another one today. what is facebook saying? >> facebook tried to show. all we actually care about safety. we care about security. all these stories are pending as

as someone who ignores these problems. they said we spent $13 billion on safety and security since the 2015 alexion -- the 2016 election. they now have 40,000 employees and putting content moderators who work on safety and security. this is their way of saying we are investing in these problems even though people don't think we are. my take away from this is if you are putting what feels like a significant investment behind this and you are still having all these content problems, what does that mean? are these problems fixable? that is a question i have started to ask over the last week is can facebook do this? they have talked about using ai and technology to automate this process but despite all the investment they have made, a bunch of stuff continues to slip through the cracks. they have some real issues here and the fact they are spending as much as they are and not fixing those issues is a major red flag. emily: an ongoing issue that we

have been following for years. thank you both so much for those updates. facebook has introduced a portable version of its portal video chat device. the product is called portal go peered a comes with a 10 inch screen and rechargeable battery. it does not need to -- it does not need to stay plugged into a wall. they may not be enough to convince shoppers. many tablets on the market already have the same capabilities. coming up, we are going to hear from the airbnb ceo about the future of travel. is a revolution happening before our really -- before our very eyes? that is next. this is bloomberg. >> the road is not going back to the way it was in 2019 anymore than it is not going back to the way it was in 1950 and if that is the case, travel is not going back to the way it was. ♪

emily: the ceos of some of the world's biggest travel companies are drug -- are gathering in new york. they will be discussing the future of travel in a post-pandemic world. airbnb saying it has welcomed more than one billion guests and that long-term stays are continuing to grow. i said to on with the airbnb ceo and asked why he thinks this is not just a travel recovery but a travel as he calls it revolution. >> there is going to be a huge shift from business travel to leisure travel. is this travel is not coming back in big way the next year. technology has replaced a lot of the need for a business travel. the more people art home, the more they want to travel. they're going to travel to cities, small towns and world communities peered hopefully

next year, cross-border will recover. once cross-border recovers, you're going to see a whole bunch of people not just traveling abroad but living abroad. i think summers are going to be more and more frequently times people go away and work remotely. emily: i have repeatedly said travel will never be the same. i've spoken to the ceo of expedia who says traveling is going to go back to the way it was. when my getting such different opinions? >> the world is not going back to the way it was in 2019 anymore than it is not going back to the way it was in 1950. if that is the case, travel is not going back to the way it was. this is the worst technology will be in our lifetime. it is only going to improve. people are going to continue to have more options. you're going to start to live in world while you have to believe his people don't go back to the office five days a week. some business travel is curbed. if you believe those things, travel is never going to come

back the way it was. it is going to be different. i think there is going to be a new golden age of travel. it is going to be different. emily: you have told airbnb employees they can work from home until september of next year. you have other huge tech companies looking at january. are there companies getting this wrong? are they getting wrong held that covid is going to be? >> i think ultimately the employees will probably dictate the work policies down the road because everyone of us want to hire the best talent to be competitive. after compensation, flexible work policies will be the number one benefit for employees. i don't think we're going to live in a world that is 100% remote but i don't think we are going to live in a world where most people have to come back to the office most of the time. the younger the company, the more likely they are to embrace the hybrid or remote model. as we can do more things over technology, the physical environment becomes more flexible. emily: they're are big concerns

about women backsliding in the pandemic. more than 65% of air being hosts are women. do you expect that to continue to go up? >> i think it will continue or go up. one of the most amazing stats about airbnb is this next one. since we started a bnp, women on the platform have earned $70 billion. i think this is an incredible opportunity for women on airbnb. the number one and two perfections on airbnb for hosts are school teachers and health care workers. this is an incredibly leveling the playing field because there is no inherent advantage. everyone has equal opportunity. emily: party houses became a problem during covid and airbnb put a ban on parties that all of its listings. you're working to share information with the rpo about repeat party house offenders to try to clamp down. is the band working and how long do you expect this to continue?

do you think you will keep this ban in place for the long term? >> we will certainly keep it in place for the time being because we don't want to be a disturbance to the community. the ban is absolutely working. we have fewer incidents than we did a year or two ago. we want -- we are going to continue to develop new tools. we have really good technology tools to detect through a variety of statistics whether or not somebody is throwing a party. we are improving our algorithms to detect high-risk reservations. emily: airbnb announced it will allow sexual assault survivors to sue the company rather than going to minotaur arbitration. these are incidences involving airbnb's in particular. you called on other companies to do the same peter guber and lift share information about dangerous drivers. would airbnb be able to share information about dangerous listings?

>> we are already doing a party ban and we could go further. the most important principle is to keep people in our community safe empire ties the rights of survivors. anything we can do to help people feel like airbnb is a safe community, safe for airbnb to be in your community is something we will prioritize. emily: you were bullish on experiences pretty covid and virtual experiences during covid. how has that business evolved? do you still believe -- still see that being the next big thing? how will it stack up to homes? >> i am incredibly bullish. we had to take a pause on experiences because people could not gather but increasingly a lot of physical activities people were doing were not making it through the pandemic. people were realizing they could only stay home so many nights and watch netflix. they eventually have to get out of the house and do things with other people. we are going to be a nice

alternative to going to a restaurant or netflix. you can do an interesting activity with a local expert appeared i am bullish on this opportunity the next few years. emily: airbnb was diversifying any other ways before the pandemic. content, flight, business travel. you are going through this travel recovery/revolution. have you talked about reigniting any of those earlier ambitions are are you looking at other potential many moon shots that are completely different? >> one of the great things -- one of the opportunities you have in a crisis is you can get much more focused. in this crisis this past year, we got really focused got back to our roots of connecting guests and host and providing connections. we got focus on our core business we are still focused on experiences. we don't have near-term plans to restart any of the other opportunities like flights or

content we paused. we are really focused on providing a combination and providing good experiences to people. emily: what about new other potential lines of business? i know you are always experimenting. >> absolutely. i am only 40 years old i plan to be doing this for a long time. i don't want to feel like our biggest innovations are behind us. i think the best innovations that airbnb are in front of us. i'm excited about some things we are working on i think will come out in the next few years. there will be some big new innovations for us. emily: speaking of innovative approaches, airbnb is offering free temporary housing to 20,000 afghan refugees. i know you are paying for part of this personally. you have at a lot of hosts step up. give us a status update on those efforts? >> we have had an overwhelming response to this effort. we have committed to house 20,000 afghan refugees for free.

we have had a number of other people step in. we have thousands of hosts providing housing. we have housed about 700 people so far. i anticipate will be able to house the 20,000 we made a commitment to house. we can house about as many people as people are willing to host. if anyone is watching and they want to house an afghan refugee, you can go to airbnb.org and put up your place. the one thing i what everyone to know is number one, they can offer to house them for free but if they want, we will pay for this day. we work with resettlement agencies like the international rescue committee. these are professional agencies that will do the screening of the refugees to make sure that you are ready to take them in. that is what they do. we will match you. this is one of the biggest humanitarian crises of our lifetime so hopefully everyone can help a step up. emily: speaking on the sidelines

of the conference opening later today. wednesday, we are going to be joined by the uber ceo. you can catch that interview live at 10:30 a.m. wall street time. coming out, disney shares sinking the most since may on a cautious update from the disney ceo. we will take you to let get all the details. this is bloomberg. ♪

emily: take a look at disney shares. the steepest drop since may. following comments from the ceo that delays could impact subscriber growth. we are joined by chris from l.a. who listened to the whole conversation. it seemed to have taken investors by surprise. what did he say?

>> he said the new subscribers they had this quarter are going to be in the low single digit millions. you can envision 3 million. wall street had been anticipating a number like 10 million. that is a big difference. covid, there is a surge of the delta variant. that is meant they could not do some things. if you are subscriber, you can say all i get is turner and hooch. and a couple of other things. last month they are launched a new star plus product, which is there more hulu like product. latin america had not been going at the take up hoped. some promotional plans ended and they don't immediately -- the credit card does not get taken up in india. the subscriber additions are a weaker than planned. emily: we are going to have to continue to watch the fallout from that. thank you for the update.

coming up, we are going to talk about the supply chain. that is next. this is bloomberg. ♪

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emily: welcome back to bloomberg technology. the logistics industry is dealing with the worst supply chain in decades. it is affecting almost everything in all corners of the globe brendan murray explains. >> there is just a lot of demand right now for products whether those be items for our home office or backyard entertainment. this has been a consistent issue

for the past year or so throughout various lockdowns. the global supply chain is made up of ships and trains and trucks. it is designed for portable patterns of demand, which is the opposite of what we have right now. a lot of uncertainty about whether certain economies are going to be open or closed based on the outbreaks they are having. we are seeing a lot of confusion, a lot of chaos and a lot of uncertainty disrupt the whole system. the auto industry is will in on semi conductors. these memberships that are in everything we buy that has an electronic component. they come from certain economies in asia like taiwan where they are having trouble meeting the demand. the supply chain issues are going to be around as long as you think the virus is going to be around. first or second quarter of 2022 is when a lot of people see the normalizing of the shipping and

transportation disruptions we are seeing. if they don't, we might be dealing with this for another year or two or three. emily:emily: brendan murray. for a deep dive, ed ludlow with us now. talk to us about how bad the supply chain constraints continue to be. >> we have a record number of containers chips anchored outside the port of los angeles. 73 as of sunday night. he came down by about three over the course of 23 hours. they cannot get the containers off the ships fast enough good why? covid restrictions because of labor shortages. what about the customers paying to have their items moved? look at what is a pretty staggering chart. the cost of shipping has gone through the roof. it has rocketed. you can see the blue line. while volumes of shipping have

remained steady, there are so many factors at play here. one is that demand remains elevated but there are so may constraints that are limiting ability to move things particularly when it comes to hauling freight on the roads. there is also an for investors. some of the best-performing stocks in the world. vr in july and, the bloomberg intelligence index has drastically outperformed the s&p 500 or the s&p 500 is not really register compared to the 220% gain. the question, does that continue? all analysts point to the holiday season. amazon, walmart, getting ready for the heavy demand around the holiday. that is impacting an already constrained supply chain. emily: in the last few minutes as we have been on air, bitcoin flipped below $40,000 and shot way back up above $41,000.

what do you imagine is happening? >> we sell this risk off mentality. that took bitcoin with it. it is falling for a third consecutive day below the 40,000 technical level. you also have growing regulatory voices. the sec chair gary gensler commenting tuesday others have tried alternative currencies before. private companies like banks have tried alternative means of exchange before your that is going to pressure along the risk off side we have seen before. emily: thanks so much for the insight. i went to get back to the digital freight market and the digital freight startup transfixed, which has announced it is going public via spac. this comes at a time when the logistics industry is under a lot of pressure. joining me now is the president and ceo. let's start with the pains that

exist in the supply chain. of us the big picture. we know the pandemic snarled the supply chain. a lot of us could not get what we wanted and needed. what are the problems that >> >> exist right now? we are still continuing to see demand peak. seeing capacity shortages. labor congestion. and congestion as well. this is one of the big reasons why customers and carriers work with transfixed we build the platform that has enabled customers to be able to navigate all market conditions. that has led to the growth of our business. emily: talk to us about how transfixed steps in. you are working to smooth out the kinks any of the chain. how does the technology work? >> we connect some of the largest shippers in the world with carriers across the country. we work with companies such as

target, unilever and wayfair. we have built a strong community of carriers. 93% of the carriers on our platform continue to come back. our technology has enabled us to be able to provide customers with easier access and far more reliable capacity and at the same time being able to provide carriers with access to the loaded they are looking for that is going to be good for them as well as their drivers. emily: why spac? why now? >> this is the time. we have incredible momentum in the business. we have been able to prove every year we have grown the business with new customers. growing customers. a carrier base. and increase improvements in our automation. an incredible partner with g square. they have been investors since 2019. they have invested in companies such as airbnb, spotify and

corsair. deeply and broadly familiar with the space. as you know, there is a lot going on in supply chains. there are a lot of challenges. now is the time for digitalization. so much continues to begun -- continues to be done manually across the entire ecosystem. every party involved in the supply chain continues to do thing manually and the need for digitalization is now. we have built the technology platform and software offerings making it easier for shippers and carriers alike. emily: we are heading into the holiday season and a peak of shipping times. what are you expecting over the next few months? where are the pain points going to continue to be? >> we expect for demand peak to continue. and our goal is to be there simply for our customers. we expect more volatility. we have proven time and again we have been at the right time at

the right moment. we have worked with one of the largest global consumer brands where they were seeing a lot of fertility congestion. we were able to provide up up fleets for them instantaneously. that has helped them over the last year. we have worked with one of the high-growth fitness brands. in the midst of covid and even moving forward, helping them with some of the peak demand they were seeing in the market. emily: the transfixed president. thanks much for giving us the big trip should coming up, how the pandemic is creating new opportunities for founders. i will be speaking with the revolution chair ahead of his keynote at the greenwich economic forum. before that, let's get a look at stitch fix fourth-quarter revenue beating estimates. the platform announcing the

launch of stitch fix freestyle, an online boutique that constantly refreshes according to your preferences. this is bloomberg. ♪

>> we got hit by the covid coming. so then we bounced back from that. >> supply chain problems that we are facing is very traditional economics >> >> 101. ic over the medium term and nine megabits supply shortage. reduced. >> we are looking at inflation term being the short to medium.

>> added value but not as we should have added. >> we 24/7 buying and partnering with the market leaders leading digital transformation in their industries. >> a lot of the funds are taking much longer term bets so we feel much less sensitive to a change in the policy. emily: just some of the big names who joined us on bloomberg television throughout the day from the greenwich economic form. the event i'll find discussions focused on the transformation of tech and work in post-covid world. i want to bring in the revolution chair and ceo for an interview who is also holding a keynote at the form later this week. great to have you back with us. the pandemic is dragging on. there is still a lot of uncertainty and i am curious for your view of the future. when we look back on this time, what is the defining tech trends or inflection points of the

covid era? doug i think it will to not the base shaken the snow globe limit. some of the trends are clear from the past year the acceleration of telehealth. we have seen the benefits of companies like tall space. the acceleration of e-commerce. i think the bigger story or the longer-term story is how we are unbundling how you live and work and that is accelerating a lot of the trends we have been talking about for a decade around regional entrepreneurship, so it is going to be amazing to see what happens. nobody knows exactly how the snow globe is going to play out but there is a lot of rethinking about work itself. some people decided to move to other players is. some cities fighting for talent. there is a battle for talent with mayors and ceos across the country so i think the innovation landscape will look at different 10 or 15 years from now that the pandemic will be one of the tipping points that are sorry.

emily: how do you imagine your daily life and investing will be forever changed? >> one of the things we have been working hard at is building a network across the country. the vast majority of venture capital, 75% goes to three states. california, new york and massachusetts. we invested in 35 states alongside renter 50 regional venture capitalists. we tried to build this network for revolution growth and the rise of the seed funds. positions from what we believe will happen of the next decade. really building relationships with entrepreneurs and venture capitalists and putting them as part of the broader network are trying to build. we are seeing great momentum paired a lot of companies are surprising us on the upside. emily: are there any particular cities in middle america that are exciting from an intervention standpoint perhaps

more so than others? >> and i invest in a number of states. also 70 different cities. it is like asking a parent who your favorite child we have seen is. we have seen a lot of momentum in a variety of different cities. last week in atlanta, there was a $12 billion acquisition of a company that surprised people in terms of what is possible. we have seen a lot of big exits in ann arbor and indianapolis and austin and others. a lot of momentum for a company focused on sustainable packaging. another company doing logistics in atlanta. a company that has kind of like a bloomberg data platform for the logistics and trucking industry. it makes more sense for them to be there. the trends are moving in favor of a more inclusive innovation economy. here in silicon valley, new york, boston continue to dominate. i think they will dominate less

in the next decade. emily: how do you think cities will survive the pandemic? we are seeing more blending with suburbs and beyond, but what remains after this? >> there is still a lot of value. i woke up in washington, d.c. i was with mike bloomberg. he was talking about new york and why everyone wants to be in new york or london or one of these superstar cities. they're always going to be some possibilities around rural entrepreneurship. if an infrastructure bill gets done which it likely will get done, that will help a lot of entrepreneurs. we think what will happen over the next decade is instead of a few cities dominating, a few dozen cities will stand up. some of that ties into the point i made earlier about the domain expertise, the partnerships, the credibility you will need to disrupt some of these big sectors in health tech and so

forth. if those cities and those companies win the battle for talent. there has been a brain drain over the last couple decades. the pandemic has reversed that a little bit. you're seeing firms in silicon valley looking at other parts of the country. that will accelerate over the next decade. we have been saying this for a long time. it is great to see it happening. emily: congress is considering changes to tax law that could impact tech founders, early tech employees. this would raise taxes on options that employees benefit from. there are some folks who say this will hurt innovation. other folks say lower taxes than the rest of us pay. do you think this is fair or not? >> let congress figure out what to do in terms of the actual package. we do need to be careful while

we deal with issues around income any quality at the things that are quite troubling that we do it in a way that does not diminish what you are talking about, the willingness for people to invest in young companies. willingness for entrepreneurs to take the risk of starting the companies. we do need to be careful. i think it is fair to have it on the table. it seems like it should be different for hedge funds trading in seconds or private equity funds that are flipping mature businesses versus the young startups that are backed the venture capitalists tend to have a five or sometimes 10 plus year rise. as this gets negotiated, hopefully there will be an understanding of the needs. one of the things that are encouraging, one of the pieces of legislation being considered is to increase the r&d investment and to find a dozen regional hubs. significant money that would be funded to help take these cities to the next level. help these cities rise.

hopefully that will be part of it as well. anything that helps drive more novation, more job creation and in more inclusive way bring along more people would be a good thing. things that end up undermining that would be a concern. emily: you paused your story -- your store because of covid but you are still accepting applications from startups. i believe you stopped accepting but you have been accepting submissions and you are about to announce some winners. what are the trends you have seen in the start up supplying? any new fresh ideas that you have not seen before? >> some of the companies we have backed, we have now done bus tours eight times. it is three different ideas -- 43 different cities. companies are scaling in an extraordinary way. the tour we had to postpone twice was taking us to places like oklahoma city, wichita, kansas city. bentonville, arkansas. some of the cities being formed

are around the connection to that. because of walmart's presence in northwest arkansas. agate tech because that is a major part of what st. louis is doing. we are seeing in this next generation, though that on expertise and networks in those incumbents and we will see what happens in terms of when we announce the winners. you can expect some of them will be tied into what is special about those places and what advances those places if more venture capitalists do focus on other parts of the country and if entrepreneurs who left because they sense there is no opportunity to return and if graduates stay there, you will see more of these cities rise up. you will see more innovation happening all over the country. for all investors out there, when i talk about this, part of this is almost a point about fairness and leveling the playing field but it is one of

the greatest investment opportunities of all time. from an investor standpoint, it makes a lot of sense to focus on what is happening everywhere and not just what is happening in your own backyard. emily: we can always count on you to give us a bigger picture of what is happening around the country. thanks for stopping by. coming up, how the streaming wars have moved from the screen to the speaker. we will talk about the latest experiment next. this is bloomberg. ♪

emily: the fintech startup revolution is planning

commission free trading. to offer launching money transfer and budget services in the u.s. last year. it is one of the well-funded fintech's muscling into areas once reserved for banks and brokerages. the streaming wars continuing to stay hot and not just on your screens. hbo max launched a new scripted podcast featuring several prominent actors playing characters from gotham city. joining us now is the bloomberg entertainment and media reporter. >> this is all part of a plan we are seeing across different streaming services right now. developing companion podcast shows that go with ongoing tv shows that are related to properties you have so you can keep those customers engaged. we are in this moment where there are so many different tv shows and 70 different podcasts.

-- and so many different podcasts. anything you can do to create this multimodal universe of content seems appealing to them. we have seen it with this batman show. with hbo max. apple had one. netflix is developing original podcasts. it is happening all over hollywood. emily: you have a huge scoop out about netflix nearing a deal to buy the roald dahl catalog. we are talking about classics like charlie and the chocolate factory, james and the giant peach and an acquisition of this size is a rare event for netflix. what do we know? >> this would be the biggest acquisition netflix has made to date. there is not a purchase price disclosed but it is safe to assume it is in the hundreds of millions of dollars. this is a sign -- the type of acquisition netflix has always been interested in is one where they are buying ip. they don't want to buy a legacy company that owns tv networks or studios. they just want the ip they can use to make tv shows, make movies and maybe make toys and lunchboxes and all those things.

in that regard, roald dahl is perfect because the company employs like two dozen people. it is this great catalog. many of these properties have been turned into film and tv shows already. so what are going to be the new spins netflix has that makes this different in the long term? emily: you think they will be making more big buys like this to get the ip behind future content? >> they have always talked down the possibility. making clear they would rather build them b -- build than buy. i think if they can find other assets like this, they will acquire. netflix's strategy seems to change ever so slightly all the time. emily: a rare event indeed. thanks much for bringing us that reporting. that does it for this edition of

bloomberg tech. make sure to tune in tomorrow. we'll be joined by the uber ceo. plus, the ceo of genentech. i'm emily chang. ♪

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>> the following is a paid program. >> the following is a paid presentation furnished by rare collectibles tv llc. >> john fitzgerald kennedy served the at 35th president of the united states from 1961 till 1963. j.f.k. brought america home, strength, and a vision for a brighter future. >> and so my fellow