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tv   Bloomberg Technology  Bloomberg  September 28, 2021 5:00pm-6:00pm EDT

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>> 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 in san francisco and this is "bloomberg technology." coming up in the next hour, a sea of red for tech stocks. micron tumbles after delivering
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a week forecast. peloton feeling the heat as amazon pushes into connected fitness. plus, amazon is pushing further into the home, this time with a $1000-plus voice controlled robot. the amazon head of devices and services calling in more than alexa on wheels. and pfizer comes a step closer to bringing their vaccine to kids across the u.s.. the company has submitted initial data to u.s. regulators for review. plus, what youtube ceo susan wojcicki has to say about vaccine hesitancy on their platform. we look into all of it in a moment but first it was a to multi-was trading day. kriti gupta with all of the details. kriti: tech leads to the upside and also to the downside. it was an indiscriminate day of
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selling. important to note that you did have the s&p 500 index, a second down day, down 2%. here is the kicker. chinese tech did poorly, too. this is different than what we saw yesterday. chinese tech was actually bouncing back yesterday. today, once again, indiscriminate selling. quite a lot of red. treasuries also selling off. people hopping out of the bond market in a really aggressive way. not really significant compared to the 12 basis jump but still quite civic and. let's talk about an intraday story. a lot of the concerns showed up in micron on the individual level. analysts really putting a lot of emphasis on their forecast, on the demand growth. not just broadly but for their chips in particular. the estimate was $8.6 billion.
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they came out with $7.6 billion. let's zoom out and talk about what this sector has been doing. semiconductors also sold off today. if you look at this, tech has been doing pretty well year to date. what has not been doing as well is the memory chipmakers. if you were to go even deeper into that sector, you would see that micron is 25th out of 30th when it comes to how well they are doing in terms of their bottom line. let's see if that trend holds. emily: i want to stick with the market's. tech losses leading the s and p declines. joe weisenthal joins us now for more. tech is such a huge part of the market so when there is a huge selloff, tech will get dragged down. but what in particular was driving tech? joe: tech is such a big part of the market that you can have days where a lot of the market
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does well until the headlines look weak. today, everything looked week, and tech in particular. historically, recently, there has been this correlation between tech and rates. perhaps it is not automatically intuitive to most people but we did see this big pickup in interest rates. the idea is that if you buy a sort of amazon, what you are really buying is something deep in the future, earnings that are way out there. when the market is in a position where the discount rate is going up, rates are going higher, suddenly, people don't feel as comfortable about paying an aggressive multiple for 2030 earnings. i think that is the key macro idea to think of on a day when you see tech and treasuries at the same time. emily: for those of us not
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necessarily following the fed. joe: i think there are a handful of things, some of the bad and some of them good. one of them is the persistence of inflation or supply pressures. we are getting deep into the year end these things don't seem to be easing the way we had hoped. used car prices, we thought those would start easing a be those are back on the upswing. certain supply chain issues. every day, there is another story about a company, they don't have visibility into when there will be improvement. that feeds into concerns that perhaps, ok, are the central banks around the world going to get cold feet? there has been this idea that central banks, particularly the fed, will allow inflation overshoot as it hopes to get back to full employment. but, inflation, if it stays elevated, higher for longer,
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maybe some cold feet, there is a rate hike. potentially improvement in delta, some numbers coming down, so it is not entirely bad. we have seen some outperformance in the so-called reopening trade. definitely a number of reasons why people are getting anxious. emily: i want to talk about the big tech event of the day, amazon veiling a slew of devices. flying cameras, different amazon echos, a robot rolling around the home if you like. apple, a big but not necessarily connected. what is your take? joe: is interesting, peloton falling just a bit over 4.5%. this is one of those classic silicon valley fears. what happens when one of the giants invades your turf. there is always this debate,
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does the focus company win or does the company that has the huge moat and sort of tentacles into every aspect of your life win? sometimes one wins or the other. but it is not always obvious. there are certainly many examples i think we could all think of where a company like alphabet or something enters a new product, everyone thinks it will kill the product of the smaller company. amazon is so powerful because of prime, because of videos, because of shopping. there is potentially a lot of power. when you are talking about further entrenching itself in the home, also going against apple. i don't think a lot of people are that comfortable betting against amazon. emily: there is a question of how many of these new devices we need and want? would you buy a $1500 robot that follows you around the house? joe: probably not. i don't know, maybe.
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i have two young kids. of course, my house is messy all the time. maybe if i found it to be helpful for that reason. but i am probably not in the market yet for a $1500 robot. emily: i have got four. maybe not. joe weisenthal, thank you so much. always good to have you on the show. in other news, microsoft will allow epic games on its app store without charging a fee. they say that it will not take a cut of the purchases made if the third party has its own payment system. epic sued apple after the iphone maker removed fortnite from the app store, citing a workaround that circumvented apple's commission on purchases. coming up, more than 6 billion covert shots have been given at a rate of roughly 31 million per day. how soon are they coming for children ages 5-11?
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this is bloomberg. ♪
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emily: in new york, governor kathy ogle says the covid-19 vaccine mandate for health workers that is in effect this week is working to boost vaccinations. the governor says it is a roadmap for other states fighting the delta variant. her office says that 92% of the new york nursing home staff had received one vaccine dose as of monday and 84% of spittle staff were fully inoculated as of last wednesday. on a more global front, country
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arrays to vaccinate their populations. in the latest data gathered by bloomberg, the daily rate of shots now roughly 31 million given per day. the big questions remain around boosters and shots for kids. i want to bring in our senior health editor, drew armstrong. the big news, pfizer submitting its data on the kids vaccine to u.s. regulators. what do we know? drew: pfizer and their german partner biontech have basically said that they have started to hand over data to the fda in preparation for what will be a formal emergency use authorization application. what we are seeing right now is kind of this rolling process of the company handing over data to the regulators. kind of let them digest things as they become available. the key thing we don't have yet and that we are waiting on, how
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effective are these vaccines for kids? we know that the antibody data looks relatively good. how does -- what you want to know is, does this work the way it is supposed to? that is the thing we are waiting on. probably one of the biggest pieces of data. after that, timelines we have heard our around the end of october. emily: does that mean that kids will be able to be vaccinated before thanksgiving? is that the hope? drew: all of this depends on how quickly that crucial efficacy data comes in. how quickly the fda is able to review it if they have to have one of these outside panels. what i will say is that there are a lot of variables in the exact timing on this. it seems quite reasonable to assume that he would probably have something by the end of
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october, very beginning of november. but then, you have got the two doses spaced apart. you're probably bleeding into the thanksgiving timeline. you're not getting vaccinated until two weeks after your second dose. i am a parent and i talked to a lot of other parents who are very anxious to see this get approved on good data. but i think right now, there is probably too much to know for certain when exactly this will be ready. emily: parents are desperate with schools opening, closing, cases here and there. let's talk about boosters quickly. we know that there are now new windows, age limits for boosters pending on when you got the second dose. do you think at some point everyone will need a booster? drew: i think there have been a lot of experts kind of saying that, giving out that opinion.
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the fda, the head of the vaccine office, has theorized that. we do know that there is a degree of waning efficacy from these vaccines. the most important thing, death and hospitalization protection, remains pretty strong. i think it is unclear right now. the way that cdc and fda acted on this is really based on that uncertainty. in terms of who needs these, it is a lot of people in these front-line positions, who may choose to get a booster. other people at high risk, they said should get a booster. a lot of couched language around who should get a booster and went they might need it. we do not have fantastic it is showing the need for boosters. it may be that there is not one. it may be that two doses are
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fine for most people. but we do not know that yet. emily: drew armstrong, our senior health care editor, thank you for that update. meantime, misinformation and mistrust around covid continuing to drive hesitancy and drag pandemic on. critics say social media companies like facebook, twitter, and youtube are not doing enough to clamp down on misinformation. in an exclusive interview with youtube ceo susan wojcicki, asked how the platform is tackling this problem. susan: it has been one of my top priorities. with regard to covid and vaccines, that has been a top priority for us. we have a number of different ways to address that. we want to make sure that if there is information that violates our policies, we came up with 10 different policies around covid. if that is a violation of the policies, that is something we would remove. we have removed over a million videos associated with covid but
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we want to make sure that we are raising up information that comes from trusted and authoritative sources. emily: have you talked to the biden administration at all about vaccine hesitancy or misinformation? susan: we did an event with the biden administration including president biden himself with a number of creators, factory as well. we saw that as an opportunity to be able to help and spread the information coming from the administration, coming from experts, using creators and those channels to be able to distribute authoritative, trusted information. emily: i wonder if there is anything you see in the way that anti-vaxxers behave on the platform, if there is any data or insight to understand where they are coming from? susan: we try to understand, what are the different ways that we can break through? we talked about, in this
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campaign we did, getting back to the things that you love. we have people that represented all different backgrounds. one of them was actually featuring her mom talking about how she was thinking. we tried to get not just from pertt also people that were not experts, why did they take the vaccine, and that is a place where youtube can really shine. having regular creators and people get their opinions. emily: that was youtube ceo susan wojcicki. we will have more from that exclusive conversation later this hour. coming up, do we need more devices in our home? how about a robot on wheels? we will have all the details with amazon's senior vice president of devices and services, next. ♪
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emily: amazon has unveiled a slew of new products and services at the annual event, ranging from alexa power product and a robot. earlier, i spoke with amazon vice president of devices and services, starting by asking him about the amazon echo show. david: as a parent, i have lived through the life of trying to juggle three kids, shoveling around to various soccer games, and our kitchen was a montage of sticky notes, things on the refrigerator. technology can help solve that. we think this idea of ambient
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intelligence as something that is hanging on your wall cannot only entertain you but at the same time can help you get more organized through a common family calendar, to do notes, things done in a sort of new way. emily: the biggest talker has to be the astro robot, sort of a step beyond alexa on wheels. we have seen robots like this unveiled in china. i am curious what the data is telling you about whether or not consumers really want something like this and if you see this becoming a mass-market consumer device? dave: as you say, astro is our new robot we lunch today. what it is is this idea that we can do more if we can bring technology to you in an ambient way in your house. i have had it on and off for about a year now. certainly, the home security use case resonates highly with me. you don't necessarily want
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cameras in every room of your house. this way, it can patrol through your house when you are away. also, the idea that it might give you peace of mind. giving this to my father, who is 85. he is very mobile. but giving me the idea that he is up and about, able to communicate with him in an instant, with alexa together, to have the ability for him to call if anything might go awry. emily: does the price come down below $1000? do you add arms to this device? does it go up and down stairs eventually echo -- eventually? dave: i think with the technology we have today, a single floor robot at this price point was incredibly hard to invent. it is not easy. there is a lot more power inside of this than in your high-end smart phone. it is packed full of ai technology. it also has wheels, motors,
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safety systems. long-term, the pace of invention around ai, around robotics, will allow us to do more. whether or not we get the stairs at an affordable price, i am not sure yet. i know the pace of innovation around robotics is accelerating. emily: how do you think about whether all of this technology in our homes is good for us or if it is encouraging overreliance on devices and not enough using our own brains? dave: i am an optimist, first of all. but that is kind of what we see. we share that view in that technology should not always be front and center. i often go home and all my kids are in corners of the house, staring at their phones. i would rather have their heads lifted up enjoying what is going on around us. what we are trying to invent is, yes, we are using technology but
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we wanted to fade into the background. like our original device, the kindle, it just lets you get lost in your author's words. when it is working, you will know it. customers, your family, you can be enjoying music altogether, enjoy a movie together, communicating with a new product like amazon glow together. it fades away and you don't have to worry about it. emily: i want to ask you about technology because you did talk about technology. data collection overall, amazon is facing a number of different complaints about how much information is collected about them. how do you earn that trust while rolling these devices out simultaneously? dave: i think you said it well. we have to earn trust of our customers every day. it is not something you get to put in the bank and hold for a
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long time. we have to always be earning trust. to do that with these type of products, also true of phones and consumer electronics in general, i believe and we believe that you have to make privacy and security foundational. it is at the core of everything we do. the form that takes for a customer, give them control of their data, let them be able to delete it whenever they want. deleted at 90 days, 180 days if they so choose. let's put shutters in front of the camera so that when they are closed, customers can have peace of mind that there is not a camera. the list goes on and on. we have to constantly be inventing new ways to earn that trust. that is by making sure privacy is front and center. emily: dave limp, amazon senior vice president of devices and services. coming up, for years, youtube
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was the only company that paid creators. now instagram, tiktok, and snap our paying up big time. what does it mean for the future of the creator economy? more from my interview with youtube ceo susan wojcicki next. this is bloomberg. ♪ ♪
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emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. >> we talked about volatility in the bond market. we haven't talked about the debt ceiling. we do have that looming. talking about what that might mean and might look like. janet yellen issuing a big warning. is the market pricing it in? compare this to december of 2018.
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it takes 15 days to make a round-trip in the markets for the s&p 500. look at the average, the median. not much of a difference. today, you saw the heavy tech selloff. you didn't see a ton of pricing in this particular market event, but that doesn't mean we won't get it in the future. what did affect markets amtek, in particular -- markets and tech, in particular? you look across asset between s&p and other volatility, they move quite simply. the correlation, the cross asset correlation is mirrored. what's going on in the bond market and the stock market, not necessarily a causal relationship, not necessarily bouncing off each other. what do the big tech returns look like? september has been known for its seasonality. in the last 10 years, the last
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seven septembers have been negative months. this translates differently when you look at some of the big names. a big sea of red. amazon don't -- down only 1% in the last month. facebook is far more dependent on business advertising and economic growth, down almost 9%. we can say that big tech spurs the selloff, led it to the downside, but look under the hood and they are telling a different story. emily: thank you for the additional context. meantime, the creator economy has exploded. they have taken youtube's original tagline, broadcast yourself, to a new level. i spoke with susan wojcicki about what this means. susan: i see a lot of possibility with the creator economy. i see that many people have an interest and a lot to offer. before hand, they wouldn't have
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been able to have shared that with the world. there's so many people depending on their talent, their interest, sport, cooking, gaming, hairstyles, that people have come out and been able to share that and create a lot of jobs. we saw 35% increase in the number of generators that are generating six figure income out of youtube in the last year. that's just an example of how the creator economy is continuing to grow. emily: for years, youtube was the only company that paid creators. now, a lot of companies are doing that. how do you see that competition playing out? who wins? susan: it is a competitive landscape. in general, competition is good. it makes everyone work harder, and that's good. we look at creators and we say
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they are going to come to us if we do the best job. creators come to us looking for fame and fortune. i have a skill or talent, something i want to share with the world, and youtube can help that be known, health provide that fame, -- help provide that fame, help generate revenue. as long as we are doing a good job of that, creators will come to us. if we start to fail, they will leave us and go to another platform. emily: do you see tiktok as an existential threat? susan: we see many competitors in this space. i think we will continue to see more competitors in the space. it's a very dynamic space. what we are focused on our our own metrics. do we see our users engaging. we are always seeing what competitors are doing. we look at what will improve and
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what's good for our users. emily: youtube made a big commitment to black creators. what's been the progress? how do you see the potential for youtube to be used as a tool for social justice? susan: we made the announcement that we were going to do a $100 million black voices fund. we are continuing to develop content there. there's been a lot of great content that has come out. because youtube doesn't have any gatekeeper, you can just post and become a creator, we've seen a lot of people of backgrounds and underrepresented backgrounds become creators and have audiences. we've never really measured it beforehand because we didn't have a way. we've enabled craters -- creators to tell us what backgrounds they affiliate with so we can have a better
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understanding of how they are doing on our platform. emily: you said that's that is youtube ceo susan wojcicki -- that is youtube ceo susan wojcicki. for more on the evolution of the creator economy across platforms, i bring in our report who covers youtube, specifically -- reporter who covers youtube, specifically. what's your biggest takeaway? >> it's not surprising. google uses every opportunity it can to say there's a lot of competition. it was interesting to hear her say, if we are not providing great tools and an economy for our creators, they might leave. in youtube's past years, that statement hasn't held water, until recently. you are seeing instagram, tiktok, snapchat become these places where creators can actually have a sustained living
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. you are seeing that with their response, not just with the shorts product, but also this massive fund where they will pay out creators in a way they haven't done before. that's basically saying stay with us, don't go to tiktok. emily: tiktok just announced it has one billion users. how does the scale of tiktok compare to youtube? how does the value proposition to a creator compare? mark: the last stat youtube shared about its monthly active users was 2019, and that was over 2 billion. one key difference, a tiktok user is not exclusively on mobile phones. youtube has been talking about their growth on television screens. it's a different product. youtube's depth and breadth. tiktok does not have the archival videos.
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you can't go watch "s&l" clips -- "snl" clips, old baseball clips the same way. you don't have a huge content library of kids' material. still, in some sense, it is a zero-sum game. all these platforms are rivals for time and human viewers only have so much time in the day. to get your second point, youtube has been sharing revenue with traders for 14 years. it has an established economy. clearly youtube videos is where they make reliable money. tiktok is a way for them to break through to an audience. youtube is becoming incredibly crowded. it's hard for anyone who is not an established creator to gain
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an audience. emily: i want to ask about this developing story at this digital news site where the coo, according to the new york times, was impersonating a youtube executive on a conference call with goldman sachs. they have said this particular executive was having a mental health issue. now the fbi and youtube are investigating. what do you know about this? >> the dead giveaway was the beginning of the story. if you know anyone at google, they will bring you to a google call, not a zoom. they were also using a gmail address. no one at google will use a gmail address. it sounds like very serious allegations. it is pretty unprecedented in the world of digital media.
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people have not heard much about the platform. they talk a lot about their growth on youtube. philip difranco rakes in millions of viewers in his daily talk show. they live in this alternative media world where they can have these huge audiences that people outside of youtube users don't know. emily: interesting. mark bergen, thank you so much for your insight. we will keep following that ozy media story. sarah frier will join us. how the app is helping communities. this is bloomberg. ♪
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>> these battery plants will allow us to produce one million vehicles' worth of batteries per year. that's the scaling we are talking about. we needed a new site because we couldn't slow down with remediation with the brownfield site. emily: former president and ceo -- ford's president and ceo on bloomberg television earlier today. they plan to build plants in tennessee and kentucky. eventually, they will create 11,000 new jobs. over the last year and a half, many of us have gotten to know our neighbors a bit better. it's not surprising that data
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shows 35% of friendships are actually made in neighborhoods more than at work and school. there's no question your community may be more important now than ever. one company learning a lot about how we interact with next -- with neighbors is nextdoor. the hyper local community platform is now in 11 countries and says one out of every three u.s. households uses their network. with me now, nextdoor's ceo. the numbers are getting bigger. i know it's national neighbor day today. in the last year, what kind of growth and trends have you seen in terms of how neighbors are now using the platform? >> thank you, emily. happy national neighbor's day. it kicks off a whole month of celebration for us. we are quite excited to get neighbors posting on the platform all about why they love their neighborhood.
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in terms of what we are learning, you are dead on. people are much more tuned to local. the survey we just released showed 61% of people say that neighborhood is the place they want to build community. 72% want to support a local business. 58% say they have a renewed appreciation for their neighborhood as they are doing much more work from home, for example. emily: you are in 11 countries. tell us about how what you are seeing in the u.s. compares to how neighbors in other parts of the world are turning to next-door -- nextdoor. sarah: there's a lot more similarities than differences. we've been doing some really good neighbor awards in australia, u.k., and the netherlands. the stories are very similar about how people have come together to give and to get help
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. during the pandemic in particular, people looked to those nearby them. there was tremendous power in proximity. australia is hopefully about to come out of a pretty gnarly lockdown. those neighbors have been keeping each other cheerful, making sure the elderly, those who might be more immunocompromised are being looked after. the u.k. is much more focused on local business right now. the trends are more similar than different, which is great to hear from all of us who care about the neighborhood. emily: there are new and startling statistics about crime . property crime is down. violent mas up. -- violent crime is up. murder is way up. are you seeing any additional context to those numbers? sarah: we are not seeing a lot that would suggest there is more crime broadly speaking. we do know that safety is an
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important part of any neighborhood and neighbors will often use nextdoor to ensure they are feeling safe. package theft would come on that list. more neighbors are moving. about one in three moved last year. they are moving out of urban areas, into suburban areas. that's much more about quality of life, access to green spaces, less about security. we know that neighbors are doing more around their homes. those are the type of trends we are picking up on. there are things like home services and home security that do very well. nothing as extreme as the fbi stats. i'm very sorry to hear about that. emily: staying on the crime beat for just another moment, the gabby petito case has taken the u.s. by storm, and her parents have thanked folks on social
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media for helping to advance the case. when it comes to nextdoor, there's been this concern about the rise of digital vigilantism. what's your take on that, given that there can be positive results, but the pendulum can also swing in the wrong direction? sarah: it's something you have to take incredibly serious. i always say nextdoor was founded on trust. it begins with real people at a real address. a lot of the trolling you might see on other platforms is much harder to do when you are that real person and you might show up in a local coffee shop right next to them. people are on better behavior. we are a guideline-driven platform. one of the things we instigated over the last year was the good neighbor pledge. you are reminded to be helpful, be respectful, not to discriminate. of course, there's lots of places we can use technology to slow people down. we did this with kindness
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reminders that i've talked to you about before, but, more recently, we have launched antiracism reminders. we've used it for covid-19 misinformation reminders. we've also wanted to make sure if someone does deport -- report, that it's going not just to the neighbors in the neighborhood that might review, but it can come into our nextdoor reviewer as well. that neighborhood is incredibly important for local context. i'm really happy to say the team has gotten much bigger over the last couple of years. we just launched a new team member, called the welcome team member, to actually welcome neighbors to the neighborhood. that's all about setting the right tone. emily: last quick question. you just had your investor day. how big is your -- going to be? sarah: we announced it in early july. we are now deep in the process.
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we had a great investor day. we raised our guidance. we raised revenue growth to 47%. for next year, 40% growth again. hyper glad -- hyper growth platform at scale. we are continuing to move through the s.e.c. process. we are feeling really upbeat about it at the moment. we will be ready to go on the new york stock exchange. emily: we are watching that space. sarah friar, great to have you back here. good luck. coming up, we speak with the ceo of a data analytics startup as it makes its trading debut. we will talk why the direct listing over ipo and what's next. this is bloomberg. ♪ g. ♪
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emily: a data analytics company,
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amplitude, made its trading debut, ending the day up more than 50%, the latest in a string of tech companies go public via direct listing. at the helm, the youngest software ceo to take a company public since the ceo of boxed. spencer, obviously, a big day for you. much has been made of the fact that you are so young. how does it feel to get out there? >> we are incredibly excited, first to prove what a massive opportunity there is to sell in one of the most underserved personas there is an to prove the model that we do, with the direct listing, showing that it can work for b2b companies, even if you are not a large, well-known consumer brand. emily: 56% pop. that's great momentum. do you have any concerns about leaving money on the table? spenser: absolutely not. this is one of the big advantages over a direct ipo. with the traditional ipo, you
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consistently underpriced your company. -- underprice your company. there's no question in my mind that a direct listing was the right choice for amplitude. i'm happy to see how we did today and i'm excited to see other companies follow this path. emily: i know you are a benchmark company. we thought -- we've heard a lot from bill curley as to how he prefers direct listings over ipo's. did that tip the scales for you? spenser: it definitely helped. when i was first learning about the process, i spent a lot of time studying the different ways that you could go public, firstly through a spac, traditional ipo, modified ipo, and direct listing. it was so clear that the advantages of a direct listing were head and shoulders above everyone else. you can get market-based pricing for your stock on the very first day.
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the problem with the traditional ipo is you are effectively selling what should be worth a dollar for fifty cents. as a fiduciary to my shareholders, there was no way anyone could get me to do a traditional ipo, whether or not we had benchmark on the board. we are excited about their support. it's the second direct listing they've done. what's also exciting, it's the first direct listing for a lot of the other vcs on our board, including the folks at sequoia and a few others. emily: amplitude is what adobe does for marketing and sales force does for sales -- salesforce does for sales. much has been made about your leadership. do you think your age is an advantage? spenser: i've been really lucky within silicon valley. there were a lot of people that were willing to invest in whatever potential they saw in me from a relatively early age. i came out when i was 21 and i've been very lucky to lead
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amplitude for the last 10 years. i think it definitely helps you -- i'd say the bigger thing about silicon valley is people don't hold your age against you, which is something that's been very frustrating for me, growing up in other parts of the country. i'm just really excited that we are able to show that not just what we've accomplished so far, but that there's a massive opportunity ahead of us with amplitude. emily: quick question. post-pandemic growth. now that we are coming out of this, what you see as the road for growth ahead? -- what do you see as the road for growth ahead? spenser: we are excited about the forecast. exactly when and what growth will happen is hard to say. the macro trend of digital becoming way more important, the product being the revenue center in all these companies, and those product managers and chief product officer's needing a system of record do their jobs, that's happening. emily: all right.
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amplitude'ceo and cofounders -- amplitude's ceo and cofounder spenser skates. join us tomorrow. we will be joined by google's vice president of search and a tiktok star. ♪ baaam. internet that doesn't miss a beat.
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that's cute, but my internet streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. big whoop! mine gives me a 4k streaming box. -for free! that's because you all have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that?
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haidi: a very good morning. welcome to "daybreak: australia." i'm haidi stroud-watts in sydney. sophie: i'm sophie kamaruddin in hong kong. we are counting down to asia's major market opens. shery: and going from bloomberg world headquarters in new york i'm sheriff. up the top stories this hour. the u.s. stocks suffer the worst fall since may as a debt default causes concern. shery: the world's most indebted developer

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