announcer: from the heart of where innovation, power and money collide. from silicon valley and beyond, this is bloomberg technology with emily chang. emily: vaccine mandates.

why some employees could be suspended without pay before the end of the year. the future of work is hybrid. that is the view from aaron levie and chuck robbins. we have conversations with both of them this hour. apple's car ambitions take a turn. the company doubling down on -- drivers will have more control options with just a stock -- a touch of their iphone. first, pfizer, emergency authorization approval for a covid vaccine for kids today. this is a huge step forward in the vaccination campaign of millions of people around the world. our san francisco bureau chief joins us now. how soon could disapproval happen? how soon could kids between five and 12 be vaccinated? carol: pfizer submitted application for emergency use approval today.

the fda will meet later this month, followed by the cdc. our reporting indicates we could have shots in arms by the first week of november. it should be very soon. that would be a major step toward getting -- not just kids, but getting parents back to offices who may have been uncomfortable, helping jumpstart the economy for parents who had been worried. emily: meantime, we are seeing more companies take a stronger stance on vaccine mandates. talk to us about what ibm announced today. employees could be suspended without pay? kara: ibm is one of a growing number of companies taking a harder stance on mandates. this follows president biden's orders last month saying he wants all employers to have 100 or more employees to have -- for some employers, weekly testing is a headache.

they just want to have their employees vaccinated. those rules are being ironed out. biden was in illinois with united airlines, which has installed such a mandate and has had more than 98% of employees vaccinated. there are pointing to that as something but he should be doing to increase rates for everybody. emily: especially with a vaccine for kids potentially coming, how could these steps shape their way schools are operating? and workplaces? there has been so much uncertainty for all of them. emily: that has been a major issue for workplaces. parents, even if they are vaccinated are still worried about bringing home the virus and transmitting it to their kids. that said, there have been surveys saying only a little more than 30% of parents want to get their kids the shot as soon as possible.

there are still a lot of people on the fence. it is not fully approved. this is an emergency use order. there is still a fair number of kids, as with adults, who are going to be hesitant. it is not necessarily going to be widespread for everybody. emily: carol wetzel, -- thank you for those important updates. a quick look at the markets, gina martin adams of bloomberg intelligence joining us. obviously this vaccine for kids and these mandates are having an impact on workplaces. are we seeing this play out in the markets? gina: what we are seeing in the markets is more the delta variant. we did see over the course of the summer was as infections were rising due to the delta variant spreading, we saw a rotation into much more defensive plays. domestic stocks outperforming tech and other sectors.

once the rate of infections globally -- peaked globally, we have seen the reverse. we have seen cyclical sectors, inflation starting to outperform and we have started to see nondomestic groups start to outperform again. as much as the market has been down in that period of time, the rotation we have experienced is -- to the extent vaccines ultimately prevent other potential fourth wave in the winter, that would be amazing for the cyclicals group and nondomestic segments of the global economy which tend to perform best in that environment. emily: in the broader markets, we sawtek markets on a roller coaster this week. talk about a correction that hasn't seemed to be what is happening. we have seen a bounce back. where do the markets stand on the day? gina: tech was the beneficiary

of a willingness to jump in and buy a little bit on potential resolution of the debt ceiling risk. i think investors only tiptoed in. i would have expected a much stronger surge. some stocks that were most beaten-down, if investors believed this was the ultimate resolution and not just kicking the can down the road. broadly, we have noticed tech stocks -- the s&p 500 year ago september and have generally traded sideways. some months, summer months where there is more defensive strategy being deployed, tech stocks to well. early in the year, tech performed poorly as investors migrated to cyclically oriented groups. the earnings landscape, earnings next week, once we start to get earnings, we are going to get more confirmation that the

cyclical spaces are likely to continue to outperform. as much as tech earnings are very strong payment -- strong, they are not keeping pace with recovery in other groups like industrials and materials. that leaves tech at an disadvantage. emily: our chief equity strategists -- strategist thank you. google will ban advertisements and stop funding media that contradicts scientific consensus on climate change. the new prohibition applies to commercials google places online as well as its sites and youtube videos that run google ads. this includes any content that denies human contributions to global warming, or treats climate change as a hoax. apple has a new plan for cars. bloomberg has learned it is working on technology that would allow drivers to use iphones to control the ac, seats and more.

apple's car play interfaces already used by millions of drivers to control music, get directions, take phone calls. mark, what can you tell us? mark: you plug-in in your phone today into car play, you get maps, third-party apps, google stuff, apple music spotify. what you can't do is control your car's main functions. windows, backup camera, security, seats, speedometer. basically every thing else. a lot of times you see drivers switch between the car play interface and then the interface built into the car. apple wants to bring all of those interface elements, all those knobs and switches into the car play experience because they believe that will give apple users a better overall experience and their non-apple vehicles. emily: how does this fit into their overall car ambitions?

there has been executive turnover and it is unclear what the direction of the unit is going. mark: this is not coming from that -- that unit. but this would give apple as a company for their insights into the car world. it would be meeting with more car partners. potential partners. it gives a more experience in the car world. this is apple's biggest step to date in the automotive industry. there was car play seven years ago. they have tried other initiatives like khaki, easy routing, third-party apps, none of that has really taken off. they are hoping this new car play initiatives going to be something that becomes as ubiquitous as car play today. emily: how big a business could this be echo -- be echo -- how big a business could this be? mark: the important thing is that it gives apple increased lock in. every time they had a new

feature that makes your iphone a bigger part of your life, that gives you another reason to upgrade to the next iphone. to not switch away to samsung or whoever. every time they add a new feature, your bank, your credit card, your car, it is going to be a pain to switch to samsung. they are adding more barriers to that as they add new features that integrate into your daily things. emily: thank you for that update. coming up, new tool for a hybrid work future. aaron levie joins us to talk about his vision for the working world to come. this is bloomberg. ♪

emily: fresh off a win, aaron levie shares his vision and strategy for the future of productivity at their annual conference with a bet on the future of work staying hybrid. two new tools promised to beef up security and team collaboration. it has been a while. you have been a little busy with this. i want to start there. now that that is behind you, i am curious what it feels like to be on the other side. aaron: we enjoy being on the other. with a very strong message for

shareholders about how our growth has been re-accelerating and we have a clear plan to hit our improved profitability targets over the next apple -- couple of years. shareholders have voted in favor. it has definitely been a crazy process and it is nice to have that behind us and move forward. emily: are there key takeaways or learnings from this activist challenge? aaron: i have always been a little -- about this because i think activism is a strong force. in the public and capital markets, i think it is helpful shareholders can have a voice and they are able to share their perspective on business performance through two years ago, we embraced the changes they were looking for and the energy they had. particularly in bottom-line performance for -- performance.

we put together an all-new plan. we ultimately were able to exceed many of our bottom-line targets. now we are shifting a lot of the focus on the growth rate and what we can do to reeks of the regrowth. overall, activism can have a very positive force on comedy performance. we got to a point where we disagreed with some of the -- and having our shareholders vote. overall, we will always remain constructive with our shareholders, including starr burns. we are looking forward to the next stage of the business. emily: i want you to paint this picture of the future you see with more hybrid work in it. aaron: three big trends all company are facing. you had a litany of guests that are either seeing this

themselves or creating software around it. one, we are going to be working from anywhere. no question that is the future of how we are going to work. two every experience we create for our customers, partners, colleagues and suppliers is going to be digital first. three, data security, compliance and privacy are going to be at the forefront of how companies manage information. if you think of a life sciences company that has to do clinical processes, or a media ethnic films, all of that collaboration is going to generate content. they have to secure that content and automate workflows around it. our platform is the leading content cloud that serves 100,000 customers and powers the end to end lifestyle round-the-clock. securities, workflow automation, e-signature of that content on a single platform.

work is fundamentally changing and we want to build the best platform to help companies manage all of the data and content they are generating around that. emily: the pandemic has exposed the challenges around cybersecurity we have seen a spike in ransomware attacks. how will they work and what does that mean for your customers? aaron: one of our fastest-growing products, the fastest recently has been box shield. this is our advanced security project rate data that goes into the box can be viewed through the lens of data classification and malware detection and threat anomaly detection. we can alert the security team if there is an anomaly. box shield has been the most powerful addition to our portfolio. from a security standpoint. we just released advanced malware detection. if there is any kind of -- any kind of ransomware that could infect a machine, we could tech

that. -- detect that. advanced malware detection can ensure there is no infection of data. ultimately, we are going to build more capabilities over time to ensure the more data and collaboration you have, the better we can protect your information. emily: how are you personally thinking about return to work? what is your plan? microsoft says they can't give a date because things are uncertain. emily: -- aaron: 100% of the dates we have given have been wrong. i appreciate microsoft's ultimate stance on not playing that game. we have some offices opening internationally right now. we intend to open offices in the early part of next year throughout the u.s. it could come sooner as different mandates see evolve and rethink health-care

conditions around delta improve. we try to keep a flexible approach. there is no point we dictated all employees need to come back to headquarters. there is going to be greater remote work in our future and we will continue to evolve greater flexibility over when new can come to the office. being prudent and pragmatic, employee choices and flexibility is at the forefront of our decision. emily: a lot ofemily: employees are having a come to jesus moment where they are saying, do i want to stay in this job? this is shargh going to give me what i need? i have heard people say tech companies are never going to get -- how do you see the war for talent changing into the can valley in a world where remote work is preferred? aaron: it is deftly an environment where employees are

going to increasingly have more flexibility in where they were from. comedies that have more flexible stances will have an upper hand. employees are also -- there is a wide variety of where people fall on the continuum of wanting to go to the office were working remote. companies that have the greatest flexibility around that will be the ones to hire best talent. there will be the cultural aspect of how we actually create environments overtime. we are only in the earliest innings. at this point, most people are just guessing. very few of us have actually landed on what the final balanced hybrid way of working is going to look like. emily: we are seeing new legislation focused on pay transparency and pay equity. this is something many industries have struggled with. i am curious how you think this

could impact retention, especially retention of women and underrepresented minorities. aaron: any increase to pay transparency and equity is a good thing. internally at box, we pay attention to this. to the extent there are external forces i think is only positive. one of the aspects of remote work and being able to extend beyond silicon valley we have seen play out is the fact that you can tap into talent pools that regionally you would not have been able to previously. that has the dynamic of being able to expand the total number of individuals we can get into the industry as a means of driving a more diverse organization. emily: aaron levie. great to have you back.

always appreciate you sharing your views of the future. thank you for stopping by. as holiday season approaches, the question remains, how will the supply chain impact shipping echo pete buttigieg answers that for us next.

emily: other stories we are watching, transportation secretary buttigieg warning

supply chain bottlenecks are not going to be solved soon. in an interview, buttigieg said the biden administration is taking short-term action in hopes of easing the holiday crunch. sec. buttigieg: some of this is a bigger picture of longer-term issues that are going to take years to address. these challenges are going to continue for the months and years ahead. we are wasting no time in taking steps that are going to make a difference right away. emily: buttigieg says the administration is working to reduce time at keyport's -- key ports. and argued the president's infrastructure legislation could help further limit delays. invesco's new partnership is starting to bear fruit. they have come up with two crypto flavored funds. the pair invested in a range of companies in crypto activity from mining to blockchain

technology. industry observers say the green light for actual future space coin etf could come this month. momentum global come of the owner of survey monkey, exploring options including a potential sale after receiving takeover interest. that company is working with a financial advisor and discussions are in the early stages. they have not made final decisions. south korea has long been known for its manufacturing. now, the netflix hit squid game is taking the country's cultural clout to another level. the show is about people in debt fighting for survival in a deadly game. korea's cultural exports could become much bigger contributors to the economy. coming up, chuck robbins joins us to talk about how the pandemic has changed the way we work permanently.

as we had to break, let's get an update on we work. the company said its september revenue hit $220 million despite delays in the return to the workplace. the company is planning to list on the nyse via spac.

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emily: welcome back. i am emily chang. the pandemic has not only changed our way of life but has had a massive impact on the way we work. cisco has released its quarterly report into the hybrid work index which examines how covid-19 permanently reshaped the workplace. talk about the findings and more, we are joined by cisco chair and ceo chuck robbins. what is the data telling you

about how the pandemic has changed the workplace for good? chuck: great to be with you, although virtual. hopefully soon we can be back in the studio. i think about it across three categories. first, what the index says about the people and employees. almost two thirds would say the ability to work hybrid is going to affect who they work for in the future. they believe half their companies won't give them the opportunity. that is a big finding. the second big one is that you've got a 61 million meetings we are hosting monthly on webex. half the people in those meetings don't participate. we have to bring together the technology and the people to enable the technology to drive the inclusion of the

participants in these sessions. the second aspect is around the technology itself. we know the home office is like a small branch. we need the technologies to treat it like a small branch. we need to troubleshoot and do observability and we need security and we need hardened technology. that is a big difference. in september, they were 100 million daily cyber attempts we were tracking. this is another aspect that was going on. and then i think the place. will we ever return to the office, what is going to happen? the reality is from six months ago we have seen a 61% increase in wireless activity inside our customers who have wireless networks connected to the cloud. it is significant. emily: we have talking about the

great resignation, the great reflection. you have a lot of employees taking a moment to evaluate their careers. how important do you think having flexibility will be with longevity? chuck: i think it is going to be critical. we are taking a people first flexible approach and we have to because on one hand, working from home has been effective and productive. on the other hand, it has brought on stress. people have been assessing their work-life balance. we have the opportunity to give them more flexibly. it opens up access to talent. i think many companies were geographically limited in how they thought about where they would hire. i think this is can open up the opportunity for us to hire in lots of different places we otherwise would not have been thinking about. emily: your report also set ai,

and whether that will help or hurt employment. i interview -- you just wrote a big book and he paints this idea that by 2041, most jobs will be gone. listen to what he had to say. >> i think most of the jobs as we know them today will be gone and ai will be doing them. there will be new jobs. just as any technology revolution, electricity, internet, the elevator, uber, they have all taken jobs and put jobs back. that is my expectation. emily: do you agree? how does ai fit into the employment equation? chuck: i think ai is going to replace some jobs. easy jobs like ceo, those will

be replaced. [laughter] i do think it will record -- it will create other new jobs. we have been able to leverage ai , part of the webex platform is to create inclusion and capabilities like noise suppression. there is noise in my house you can't hear because it is suppressed by ai. we are doing language translation. there are benefits. we do not believe it is necessarily only going to replace jobs, we think it is going to enhance the employment experience. we are using ai to drive inclusive features. emily: i'm going to check it after this to see if your job is safe. i will give you an update. chuck: let me know. emily: i want to ask about supply chain, chip shortage is something we have been talking about for 18 months. what are you seeing in the chip supply chain where the bottlenecks still exist?

chuck: i know for a fact, speaking to folks in the semi-hidden dr. -- semiconductor industry, the semiconductor industry is in the midst of building out capacity. it takes 12 to 24 months, even more. they are working on it but it has not gotten materially better at a time where we see demand continuing to spike. it is not just semiconductors, it is power supplies, memory, trucks, drivers, port capacity, power issues, covid outbreaks. is not just one thing. my current thinking is in the middle of next year we will start to see gradual improvements, but probably 2023 where we see demand and supply line up again. emily: cisco chair and ceo chuck

robbins. thank you so much. to the role of spac's and orlando bravo. orlando has called for more transparency around acquisition companies and their disclosures. he spoke exclusively with ed hammond about that and how his firm plans to invest in blockchain. ed: -- >> in two to five years -- [indiscernible] -- 22 years ago as one of the first software buyout firms. ed: you and i have discussed spac's. obviously you did a spac this year, now the spac through iron source. the spac game has been sullied by abuse from some participants, or perhaps too much energy too quickly. you said you had hoped to do

another. is that something in the works? >> yes. nobody likes that word. regulator stole like it. investors told like it. we will call at some thing different. because it will be something different. we believe there should be great alignment between the spac sponsor and the investors, just like in private equity. investing real capital behind it, being the lead investor is something that we did in our deal. we believe there should be more transparency in terms of what are the returns of that spac sponsor? what are they look like? there should be more transparency in terms of how did they perform in terms of what they originally gave investors. that should be a requirement. we feel spac's are one of the

great financial vehicles for absorbing this we of large software companies -- wave of large companies looking for financing. it is also a chance to -- the best. the diversity and the best of private equity. [indiscernible] ed: yes, a lot of spac deals did involve those kind of companies, but also the kind of companies that were highly speculative and had predictions that potentially would be met, but were fairly ambitious. is that going to make it difficult to go into a spac in the future because people are going to say we don't believe the predictions because the last time this was going around people were saying it was going to achieve xyz? >> the spac is about who the

investor is. who the sponsor is that is hopefully also helping and is a good partner. the spac is about the company. that is what it is about. it is like an ipo. but i -- value accompany differently because they went into business with this bank or that bank, direct or not direct? that is not the fundamental of a company. i agree that the spac market should be -- because one of the advantages of a spac which can project your business and projecting a venture company is difficult because you have no track record or history of that company of producing results and seeing where you are going to be in the future. venture companies -- because there is demand from retail investors and others that cannot access the venture capital industry anyway. ed: bravo managing partner

orlando bravo. more on spac's coming up. one in particular involving a new internet provider. starry is going public. we will be joined by their cofounder and ceo chaitanya kanojia. and amish johnny.

emily: internet provider starry is going public. in a deal at $1.66 billion. starry internet service which uses small devices to access

high-frequency airwaves is available in five cities including los angeles, new york and boston. competing with trying fly comcast. let's talk about this with chaitanya kanojia and amish jani . you have a long history of trying to take on the tv industry and you were a guest on the program many times. i am curious what learnings you took from that experience. >> you could argue we started the streaming thing because we were first provider that figured out how to do live television. now that is the norm. we took great comfort in -- that we protected where the market was going to go. there is a real subscriber demand for what i would call a simplified product. whether it is internet access,

television or anything. more modernized versions because today, the incumbent experience is incredibly antiquated and -- emily: what you think sets starry apart from other internet providers? amish: we have been investors in technology spaces for a long time. the first thing we look at is management teams. whether it was jason at draftkings, founders that can drive innovation and long-term disruption in the markets. we got a 20 year history with chat and the team here. we are excited about their ability to execute. we have seen it happen in action. we think they are a great team to back. number two, they are vertically integrated, which is different from any other service provider.

they built all of their technology from the ground up. chips, equipment, software, routers. that gives them the ability to control the experience from end to end. the third thing is the market. clearly this is a massive market. it is a near monopolistic market . it is one of the most important resources one can of axis two. we think it is right for disruption. emily: how was the experience actually different for users? if i have starry, what does that mean in terms of my experience? chet: it starts when you order the product. we actually show up within 30 minutes, versus between monday and friday at 4:00 at 8:00, whatever. the experience starts there. from a technological level it is a network we can control up and down. we can offer you different capabilities with uplink and

downlink and low latency. the wireless devices are designed by us as well so you're are getting the fully managed network at home. think what world-class i.t. experience built in for residential broadband consumers, which is going to be increasing more and more as your coatiooftware consumption needs increase and you need a better low latency network. all of those are long-term trends that are going to put us toward networks that are what i call application sensitive rather than just pipes moving bits. we have built networks that are application sensitive and ultimately we deliver a better experience. emily: you currently cover 4.7 million homes across six markets. what is the ambition here? is there hope to be like the uber of transportation?

amish: the goal is to fundamentally disrupt the experience and launch across the u.s. and internationally. i think our coverage with the existing spectrum we have covers over 40 million homes. our ambition is to go after that and build towards that. emily: the competition is pretty big. you're competing with spacex, amazon. what you have on them? chet: capacity matters. think about what is really happening. you're competing against cable, the largest incumbent, they have about a gigahertz worth of spectrum. none of these other approaches come close to what the customer needs in any kind of density. those technologies you mentioned are appropriate for remote applications. you've got a house in the middle of nowhere, or vacation home,

that works great. when you are in metropolitan areas or dents suburbs, that is when you need --. for the most part it is co-ask. this is a technology designed for dents population centers where people live. emily: we will keep our eye on you. chet kanojia and amish jani, thank you both. fifa videogames have sold hundreds of millions of copies but they could cease to exist in their current form after their publisher electronic arts says it might -- them. ea is exploring its naming rights with fifa, soccer's governing body. that deal is separate from their other official partnership on licenses. coming up, the future of art galleries with the boom on digital art. will art galleries become digital as well?

that is next. this is bloomberg. ♪

emily: the future of art galleries is here. from meta-avarice and nft arch to virtual reality, there has been a craze over digital art. this sector surging to $490 million in april this year. this according to blockchain development company consensus. bloomberg quicktake takes a look at what this means for art collectibles by taking us to the first edition of the digital art fair. in hong kong. ♪ >> meta-verse, nft, virtual

reality. the first edition of digital art fair asia shows a new generation of artists. >> we are particularly interested in educating the new generation of art collectors, and even traditional art collectors into the new digital world. >> that fair features over 200 digital and nft artworks. images paying tribute to hong kong architecture. >> i feel like the digital art place is evolving. i think social media plays a huge part. we have the -- surreal hong kong. [indiscernible] they are doing light paintings with drones. they program the drones to do the shape around iconic hong

kong buildings. in the photography section, we sell nft's on the screen. scan the qr code, pay with theory of him -- ethereum. >> on fungible tokens run on blockchain technology. unlike bitcoin, each can be a unique digital property. one nft can represent ownership of a specific work of art. nft's abilities to -- has led to a boom in digital art collectibility. nft art started making news in march when -- a signal for -- singapore [indiscernible] [indiscernible]-- >> whose work encompasses street arc -- street art started offering nft's in november. >> it's not even 3d, it is for

the, you can get -- four d. you can get the whole story. >> a report from blockchain development company consensus says the nft arch market was up more than 800% from $52 million in 2020 to $490 million in april 2021. christie's announced in september it had shattered the $100 million ceiling in nft sales worldwide with its first nft auction in asia hitting a total of $15.6 million in sales. outside of asia, switzerland had its first nft auction the same month. nft soaring popularity has raised concerns. some credits are calling it just another commercially exploitable hype, while others point to suspicions of wash trading. still, that is not phasing artists and collectors.

>> i am excited about the -- going with this phenomenon. it is a new playing field and experiment. >> the world is ready for promoting digital artists, trying to understand nft and the government is ready to jump in as well. emily: that was bloomberg quicktake. that does it for this edition of bloomberg technology. be sure you tune in tomorrow where we will be joined with -- joined by the cofounder and general partner at e capital group. it will be an exciting show. this is bloomberg. ♪

>> good morning and welcome to delbert -- daybreak australia. >> we are counting down to asia's major market open. shery: the top stories this hour. u.s. stocks rise as progress on debt talks and concern over the global energy crunchies. >> the u.s. senate get set to vote on a short-term