>> from the, heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ emily: hospital admissions jump, booster shot recommendations expand, and the

omicron variant continues to spread. we will have a virus update. plus, crowdstrike ceo george kurtz says competitor microsoft 's customers are losing trust in its cybersecurity protection. we will get a response from microsoft. doesn't apple have enough gas in the tank to continue its car points? we will explore the answer as engineers continue to switch gears. all that in a moment. first let's get a look at the market. u.s. stocks falling at the economic threat of restrictions to control the new variant outweighed optimism about the efficacy of vaccines. our kriti gupta joins us now. kriti, it is all catching up. kriti: it absolutely is. the market getting hesitant about what should be believed about the omicron variant and what should not. we are starting to see a lot of confusing data, a lot of mixed signals about what is happening abroad and what is happening here. remember, we are also coming off a three-day rally. some stocks letting off steam, and that is exactly what happened. it led to the downside by the nasdaq. yields and the dollar we want to

pay attention to. we get the cpi report tomorrow. the yields, tech relationship is something we want to watch. we want to watch the dollar-tech relationship. do they move together? something to keep an eye on. we have to talk about bitcoin. check out this terminal chart. bitcoin, trading sideways, stuck between two major moving averages, the 200 day and 100 -day. something technical analysts are saying, this could be a head and shoulders pattern, signaling bitcoin has further to fall, even further than the 50,000 level. let's get to intraday movers. it is not just the macro story. we are watching earnings after the bell. broadcom up 6.3%. this coming after they not only beat their earnings, they announced a $10 billion share buyback. the cherry on top of the sundae, raising quarterly revenue to $4.10. i'm going to show oracle, a similar story, authorizing a $10 billion share buyback. also beating the earnings.

that one driven by the 22% increase in their cloud business. this company, not getting the message, missing their earnings on the top and bottom line. the stock suffering 8% after hours. emily: thank you for the roundup. meantime, covid-19 hospital admissions are rising in many parts of the northeastern united states. government data shows in 12 states and washington, d.c., the seven-day average of admissions with confirmed cases has climbed at least 50% in two weeks. the states with the biggest jumps -- connecticut, new jersey, vermont, rhode island, along with d.c. bloombergs drew armstrong, who leads our health care team, joins us now with more. how worried should we be? drew: what we are seeing now is this bump that in many ways, echoes what happened last year at the beginning of the holidays. people got together for thanksgiving, they are being driven inside either colder weather, and all those things are mixing and mingling, people

being in and closed spaces, that will lead to an increased level of spread. that tends to be followed by increased hospitalizations. it looks like we are on the cusp of another winter wave, unfortunately. emily: meantime, we are getting new guidelines by the day. the world health organization's adjusting we don't mix and match vaccines and boosters. people are already doing this. what is the takeaway? drew: i think there is a lot of mixed information out there. certainly data shows a lot of efficacy in mixing and matching. i think in reality, a lot of people are just going to get whatever vaccine is available. i mean, i couldn't tell you the name of the manufacturer of the last flu vaccine that i got and i get that every year for different strains of the flu virus. i think the story of this pandemic has been often shifting, often changing guidance, and that will continue, unfortunately.

emily: johnson & johnson's ceo was on bloomberg television with our colleague, david westin earlier today, talked about , omicron and what we are learning. take a listen to what he had to say. >> we want to start to see how well the omicron virus be impacted by the current vaccine? look, again, we are encouraged by some of the data. we need to gather more to determine exactly what the efficacy profile will look like. but right now, in fact, we are already working on the next generation, should that be necessary. emily: drew, are we going to need a new vaccine, new booster, for every dangerous variant to come? drew: in all likelihood, no. one of our colleagues has a story out today, pointing at the real problem of trying to chase variants with boosters. you are always, always, always going to be behind. combine that with the fact that we have seen decent protective data for people who have had

booster shots already, you will always be dealing with a degree of new variants, vaccine escape, decreasing immunity over time. those are just facts of life. so when you talk about the booster versus variant thing, you really can't do it. i mean, the variants are always going to rise faster than the ability to mass manufacture boosters and get them out to people. it's not really a viable strategy, if it becomes a necessary one. thankfully, the protection data for people who have been boosted versus this variant looks decent enough. emily: omicron is certainly one that we are tracing now. bloomberg's drew armstrong, thank you so much. later this hour, more on that exclusive interview with the ceo of johnson & johnson, alex gorsky. you don't want to miss it. meantime apple's top secret car , project has lost three more top engineers. the latest bump in the road for the iphone maker's car ambitions. the departures include a manager on the hardware team, apple's chief radar engineer, and a battery group manager as well. all of them, moving on to startups.

joining us now for more are ed ludlow who is in l.a. today, and what we know about the series of defections? ed: festival, it is interesting where they went. two went to aviation and another went to joby, which are sort of electric, personal flying taxi startups. i wouldn't draw much into that. but this has been a year where the apple card project has had a -- the apple car project has had a number of high profile departures. the most important one probably being doug field, and ended up going to forward it to be ford's chief technologist. there is so much interest for this project. i love the image, because we don't know much about the car, but what we keep hearing is there is a merry-go-round of executives there. emily: what do we know about the design or product that apple is working towards? we still don't really know a lot about the endgame. ed: yeah. so there was a really important bloomberg scoop last month, that apple has made a firm decision to make a vehicle that is fully autonomous.

think about what zoox or g.m.'s crews are working on, a vehicle that has no steering wheel, no pedals. they have not been sure, according to sources, whether to go that route or one you can drive yourself. they are going in on full autonomy. the aim is to have something by 2025, which is super ambitious. emily: can apple really bring a car to market by 2025? especially when it is losing all these people? ed: this week, morgan stanley raised the price target $200 on the stock price. and a lot of the enthusiasm is that apple, when it says it will move into a new product line, it does really well. later, it is reflected in their financials. the other thing is, we are headed towards a $300 trillion market cap. a lot of what is priced in that is the excitement that they could. apple has real expertise in software. some of these departures are in key areas. battery, radar, the things i go

that go into an electric, self vehicle. it is negative news to know there is a turnover on the team, but the consensus is have the expertise to do it. and again, if we inched towards a $3 billion market cap, that could be one of the big drivers for the stock going forward. emily: all right, ed ludlow in l.a. we will see you later in the show. thank you. coming up, what the future of crypto holds. we will be joined by the cofounder of lightspeed venture partners, which is accelerating its investing in crypto infrastructure and the blockchain, to talk more about that latest crypto hearing on capitol hill and trends in the coming year. that is next. this is bloomberg. ♪

>> cryptocurrencies do provide a potential way to address a number of these issues, making it easier, cheaper, faster, and more equitable for people to do what they need to do to manage their financial lives. >> shouldn't we take seriously the possibility that algorithms that open software and take a measure of human error, read read negligence, fraud, and bias, might make the system better on net, even if there is some new risks being presented that need to be understood and regulated? emily: lawmakers seem to agree that crypto has a promising a day after crypto executives testified in washington, it is clear congressional leaders are wrestling with how to bring the more than $2 trillion market under government oversight, and new legislation may not pass anytime soon. for more, i want to bring in lightspeed partners' ravi

mhatre. great to have you back with us. what are your key takeaways from that hearing we just saw? ravi: first off, thank you for having me on the show. we think it's great that the crypto industry is engaging in dialogue with the government about regulation. i think, like in other emergent sectors, it is important as acting technologies -- as blockchain technologies start to hit mainstream, that the government understands and the crypto industry agrees, that regulation is important. there needs to be safeguards for consumers, but the regulatory framework is going to need to be different because crypto technologies and crypto tokens are not exactly the same as traditional financial instruments. so, there needs to be a deliberate approach. also, i think another important point that came up in the hearings was the fact that overregulation is probably as dangerous as underregulation.

underregulation could create risks for investors and consumers, but overregulation could stifle innovation. i think there is a lot of commentary about moving a lot of the innovation overseas. right now, in the u.s., you have some of the brightest minds working on lots of new ideas. that has always been an advantage for america, the ability to innovate faster and, with new ideas that then spreads to the rest of the world. emily: right now, we are looking at almost no regulation. how concerned are you about crypto startups and talent moving overseas? ravi: i think the regulatory environment, to date, has been unclear. two things the government could do, work with the industry to define a clear and unified, a single framework, so crypto companies understand what the regulations are. i think that will increase the likelihood that innovation continues to happen and accelerate in the u.s., in particular. and i think the government is it

really understanding, in particular, with these things called stablecoins, where there has been concern and ideas that perhaps the government should control all stable coins as a way of regulating. i think that is a place where overtregulation could actually hurt innovation. and the crypto industry has proposed other ways that regulation could happen with a lighter touch. saloon see how that discussion plays out. emily: we have gotten a check of some of our guests' outlook and predictions for next year. listen to what they had to say. >> the moon is the bear case for crypto. we are going to other dimensions with bitcoin. so, i think we just need to hold on. we are still early days, still early in the cycle. i think we could see $100,000 plus a coin late this year, early next year. >> for the last 4, 5 years i've been in crypto, i've seen three crash and usually that happens early in the year, probably january or february, then there

would be another crash. but it is typical, another day in crypto. and then on top of that, probably, i think it will be a crash in bitcoin. >> investors are going to be looking at ethereum, solana, polygon. we are seeing a lot of investors who put their toe in the water with bitcoin in 2020. emily: ravi, doesn't look like we're getting to $100,000 anytime soon, or at least not before the end of the year. what do you think? could there be a crash in january or february yet again? ravi: as i've seen, we have been investing in crypto since 2013. we made our first investments in a company called ripple, which is a large token today and also blockchain.com. over the eight years, we have seen three or four market cycles in crypto, and in bitcoin. so, the past is always not a

predictor of the future, but there could be more volatility and upswings and downswings in the future. it is hard to predict the timing. but in the long run, i think we along with many other investors are bullish and optimistic that the penetration of crypto, we have only scratched the surface. i think it has been 10 million de-fi users and may be only a few hundred million people in the world who have bought cryptocurrencies to date, including bitcoin. if you look at the number of people obviously connected to the internet or who have smart phones which is in the many billions, the opportunity for growth in crypto, i think is massive. so, could bitcoin go to $100,000 or surpass $100,000 in the future? i think the market size, the potential market size would definitely support that. emily: all right, lightspeed partners ravi mhatre, great to , have you back on the show. california representative brad

sherman has become an inspiration for crypto token creators after making fun of the competitive world of digital assets at the congressional hearing. take a listen. brad: the number one threat to cryptocurrency is crypto. bitcoin could be displaced by ethereum, which could displaced by doge, which could be replaced by hamstercoin. and then there is cobracoin. what did mongoosecoin due to cobragoing? emily: the internet rolled with it, and several tokens seen around the fictional mongoose coins were minted overnight. coming up, protection from potential attacks. microsoft seizing 42 sites linked to a hacking group. we will talk to a microsoft executive about the win, and who they planned to. this is bloomberg. ♪

emily: earlier this week, microsoft announced it disrupted the activities of a china-based hacking group dubbed nickel. 42 sites seized. microsoft says the attacks were likely carried out to gather intelligence from government agencies, think tanks, and human rights groups. to discuss, we are joined by microsoft security and identity corporate vice president. thank you so much for joining us. what more detail can you give us about the folks behind this network of websites, what attacks they have already carried out, and what they planned to do? >> thank you so much for having me, emily. microsoft announced this week that we took down the china-based hacking group, nickel. this has been a big week for fighting cybercrime for microsoft and our industry as a whole, and in particular, i'm really proud of the partnership

we had across the private and public sectors. what nickel was doing was they had malicious websites and they were using these websites to get access and intelligence from think tanks and governments and humanitarian organizations from the united states as well as 28 other countries. by cutting off their access, to these websites, we were able to protect the victims. this is a strategy, a legal strategy that microsoft has used before to protect against thousands of websites. and we continue to look forward to do this in upcoming years. emily wish officials have provided conflicting accounts of whether ransomware attack's are decreasing through the second half of the year. we have not seen as many as we did in the first half. does microsoft have any insight on that? vasu: we see a sophisticated cybercrime situation right now. in fact, in the last year, we have seen some of the most instigated attacks, some of the most frequent attacks, as well, emily. some stats to share, we have

seen 150% increase in ransomware in the last year. since march 2020, we have seen a 667% increase in phishing attacks. we don't really see cybercrime stopping. we continue to see that advancement across financial crime, as well as nationstate. in fact mind-boggling stat, , a there's 579 password attacks every single second. that means there is aliens of attacks happening in a year. emily: you would say ransomware attacks are going to continue to accelerate? vasu: i believe ransomware is the number one threat that we face today, and i think it will continue to accelerate as we have more and more digital surfaces coming online. emily: earlier this week, the ceo of crowdstrike, george kurtz , joined us on the show. he said users are losing trust in microsoft products.

of course, crowdstrike is a microsoft competitor. what i want you to take a listen to what he had to say. george: i simply hope that microsoft is able to address some of their issues. we want the best security for the entire landscape. but, at the end of the day, is still a big problem, in that a lot of the software they have is causing issues, and their technologies are not able to keep up defending against those attacks. emily: what is your response to that and what are the attacks to microsoft? what are the attacks against microsoft's exchange server say about cybersecurity and microsoft products? vasu: thank you for sharing that with me. first, i want to reiterate that we are in one of the most sophisticated cybersecurity situations right now, with cyberattack sophistication increasing. we see attackers who are persistent, who are resilient, and they are relentless. we see attacks coming from everywhere. i shared stats around 150% increase in ransomware, 667% in

phishing. attacks come from everywhere. they can come through credentials installed on the dark web, they can come from a click on a link. it can happen to anyone. every single person, every single organization is vulnerable to attack. to say anything else otherwise would just be irresponsible. microsoft's philosophy has always been to be customer -centric, to focus on our customers, deliver solutions and empower them and protect them. and we work with our community. we work with more than 200 security vendors across the board. they are part of our microsoft intelligence security association, to solving the problem at hand. and it's really unfortunate when some vendors disparage other vendors. now is the time to solve the problem and to fight cybercrime. ultimately, i believe trust is about -- sorry. emily: finish your sentence. vasu: sorry, trust is about who you choose to be on the journey with you, and in the case of

microsoft, we have 650,000 security customers who have chosen microsoft security. increasing 50% year-over-year, i think that's about trust. emily: so, speaking of working together what do you think the , appropriate role of microsoft is in helping to bring cyber criminals to justice, given what the biden administration is also doing? just a quick answer, please. vasu: we are working across the public and private sectors for that. there are multiple things. one is offering comprehensible advanced security solutions, which we do. second is building foundational security into the products, using a zero trust architecture. and the third one is creating awareness and scaling. and as part of that, we are working with community colleges, and we just announced a major cybersecurity initiative working with the government to train people on cybersecurity. emily: microsoft's vasu jakkai, thank you for joining us. appreciate you joining us on the show.

coming up, roku and youtube waving a white flag in the streaming wars. we will talk about the state of streaming competition with the ceo of a streaming tv service. this is bloomberg.

mom, hurry! our show's gonna start soon! i promised i wouldn't miss the show and mommy always keeps her promises. oh, no! seriously? hmm! it's not the same if she's not here. oh. -what the. oh my goodness! i don't suppose you can sing, can you? ♪ the snow's comin' down ♪ -mommy? ♪ i'm watching it fall ♪ watch the full story at www.xfinity.com/sing2

emily: welcome back to "bloomberg technology." i am emily chang. i want to get back to the markets and earnings from a big chipmaker, broadcom, reported after the bell. ed ludlow back with the latest from l.a. how are the numbers looking? ed: a super bullish forecast for the current quarter. there is elevated demand from smartphone makers. remember, broadcom is one of apple's key suppliers. that is a really interesting read-across. it comes back to this issue of supply. they are saying the inventory

levels are still very lean, and that lead times remain expended, which is interesting because we know that in the month of november, the lead time for semiconductors, the time between placing an order and receiving a chip, you see there on your screen, grew to almost 23 weeks. so the situation doesn't seem like it is resolving too quickly for global supply chain watchers, it is a pretty worrying sign. emily: so, you are at the port of l.a. tomorrow covering the , supply chain crisis. what more will we hear from you? ed: i'm excited to be in the port of l.a. 40% of the containers that come to the u.s. go through that port. the data is pointing in the wrong direction. ships in the san pedro bay outside the port are spending more time than ever waiting to enter the port. and to be unloaded. it is a really worrying sign not , just ahead of the holiday season and inventories, but going into the new year where retailers stock up after the holiday rush. there is so much going on, so many reasons behind it, and we are going to get to the bottom of it, emily.

we have some fantastic interviews. we are going to ask, how do we get the supply chains fixed long-term? emily: we will be watching you tomorrow. thank you. well, a truce in the streaming wars. roku will be extending its agreement with youtube and youtube tv. roku had previously pulled the youtube tv app from its channel store back in april after the company's failed to agree on terms for the live tv streaming service. i want to talk about that and more with andrew mccollum, ceo of the streaming tv service philo. andrew, great to have you back. seems like these two for tat -- tit-for-tat, these public battles over streaming rights and ads splitting and have become commonplace. what do you make of this resolution between youtube and roku? andrew: i think there has been a lot of scrutiny and public commentary about the behavior of the mobile app stores, where apple and google and the rules they set on their platforms and whether or not they are act ing devices for customers. but you have not seen a lot of

the same scrutiny on streaming devices, although you have all of the same issues, in fact, even more. as you mentioned, it brings in this element around advertising and other details that are really unique to streaming services. as it relates to google and roku, i think it is not surprising they came to an agreement, because youtube is such a powerhouse. you really just cannot have a streaming device that doesn't have youtube on it. but i think you are starting to see some of these battles on those app stores on the streaming devices coming more to the forefront. and i think that's only going to continue, because the issues are just as salient, if not more than on the mobile app. , emily: who is going to come out on top? andrew: in all of these situations, the device makers, who, in this case, roku and amazon primarily, old a lot of power. the question is, what are the ways that they can wield that power without being called out on it either by political forces or by market forces?

i think a lot of people who use streaming devices don't realize what a premium they are paying for, essentially, because these companies are charging a toll and a tax to be available on those devices. emily: how do you think this will evolve? andrew: i think you will continue to see these tit-for-tat battles in the near term. i think in the longer term, i would hope that this is addressed through greater scrutiny and regulation. you just shouldn't have participants who are creating platforms also controlling what is available on those platforms, and also competing on those platforms. it creates all kinds of backward incentives and eventually, having some regulatory oversight and scrutiny of that is inevitable. emily: is content still king? andrew: i think yes. you have seen a lot of these battles be resolved basically because content was threatened to be removed, or threatened -- actually was removed.

but there is no one-size- completely-controls all in the conversation here. it is going to be a battle on both ways. i'm sure while google ultimately was able to do a deal, on positive roku gave up along that process and it is interesting, the way google's apps are present on roku indicates that because there is a lot of concessions that roku has made to make those apps available, so they don't allow other participants like philo to have. emily: i'm asking in part because i am a huge "yellowstone" fan, and i found out you can stream season four of "yellowstone and on philo. how big of a deal has that been for you in terms of drawing new viewers? andrew: "yellowstone" has been a massive hit. philo is the best and lowest-cost way to watch "yellowstone." it is a good example of the confusion there has been in the market. a lot of people know yellowstone is on paramount but not on paramount plus.

it is an example of when these shows are not on the direct-to-consumer services that content creators have made. the only way to watch it is on a live tv service like philo. it has been a massive boost for us. we have had a huge amount of growth based on "yellowstone," and it is certainly one of the biggest shows on tv. emily: let's justify the best on lowest-cost way to stream, you've got a deal for five dollars instead of $20 for the first month of service. you know, how do you keep that argument up, that you are the best way and the cheapest way? andrew: philo is just five dollars a month, even without discounts. and there are several deals that we have available now. even on a regular basis, there is not another live tv streaming service that has the channel selection we have. we carry 63 live tv channels for $25 a month. and there is no one that is really close to that, in terms of where you can get that

breadth of content at a low price. emily: you were at 800 subscribers, i believe, a year ago. where are you now? andrew: we have grown a bit. emily: what are the goals to bring in new subscribers? how do you do that? you don't have sports, we've talked about this. will you ever have sports, will you consider more niche channels like cricket and what we saw amazon do there? andrew: i think we have always taken a very data-driven approach, where we want to bring any content to the platform that is going to be valuable to our subscribers and preserve the choice we think consumers want. we would love to carry sports. it is the cost of that content is really hard to justify. you talk about acquiring subscribers. it interesting that the market has gotten really competitive. there are a lot of services spending a ton on marketing. i think a lot of that is a bit irrational. it's not actually supported by

the underlying economics services are driving. both live tv services like ours as well as these new crop of direct-to-consumer services. it will be interesting to see how much that continues and how much wall street continues to encourage that behavior. emily: would you ever make your own content? andrew: i think it is possible. you know, we have been really successful working with -- being of switzerland, saying, we will carry the best content from anyone and we are not going to be competitive by creating our own. but i wouldn't rule it out. emily: [laughs] ok, andrew mccollum, ceo philo. good to have you back here. coming up, it is the goal of just about any company, finding the talent of the future. my next guest has made a business out of it, literally. ali partovi the ceo of neo joins , me next to talk about his mentorship network that is placing big bets on young engineers before they even get their first job. that is next.

this is bloomberg. ♪

emily: amazon has received one of the largest penalties handed out by a european regulator. it fined the tech giant more than 1.2 billion dollars after an investigation into its logistics business. amazon was accused of abusing its dominant position by promoting its on fulfillment networks to the detriment of third-party sellers who don't use its services. the company says it will appeal. we talked about three weeks left in 2021. many of us are looking to what the future has to offer. my next guest has spent the last five years doing that with his

company neo, finding dozens of the best and brightest students they have identified as helping to build the future. they just raised $150 million round where it focuses not only on engineers but potential founders, and diverse ones at that. joining me in the studio, ali partovi, longtime entrepreneur, angel investor, and the ceo of neo. great to have you back with us. ali: glad to be here. emily: 150 million dollars. where and how do you plan to put that to work, coming out of the pandemic? ali: to clarify, we raised $150 million fund. so our business model is essentially a vc fund. though i would say what we spend our time on, is we are in mentorship community. we try to find the top 50 most promising students in north america and try to help them take more adventurous paths in their career. help them either start startups , or join startups. and hopefully help them become future tech leaders. emily: how do you identify these people? who are supposed to be the future? ali: it started five years ago with me traveling around the

country to campuses, not just harvard, m.i.t., stanford, but georgia tech, ut austin vanderbilt, and dozens of , others, personally interviewing students. today, we have a whole distributed effort amongst members of our veteran community who do volunteer interviews, startups who do interviews who hire these bright students, and are very the interview process eager to the interview process is something we have put a lot of thought into to enable each person to put their best foot forward and recognize each person might have different strengths. and that helps us with diversity. it is a rigorous technical evaluation. we are essentially trying to find the founders of the future, top companies. i guess i will say, if you look at the top most valuable companies in the world, almost all of them were started by somebody who is an extremely strong computer programmer. and in fact, most of them are

still run by somebody with a computer science degree. i have had the privilege of investing in some of these companies at a very early stage -- facebook, drop box -- and i have had the privilege of also recruiting a lot of college new grads to join them. to me, neo brings together what i have data for the past two decades or more. emily: many of the biggest tech companies were also founded by white men. neo, 45% of the funding so far has gone to women or people of color. i know you are proud of that. how do you find more diverse talent? when we hear from so many leaders that it is hard to find? ali: i would agree with that. i think the starting point is just the mental model. there are people who say something about the trade-off related to lowering the bar. i think that is a bit insulting, and also, it is an excuse. the reality is it is difficult. diversity in tech is a problem that needs many solutions. starting at the elementary school college, where my

nonprofit code.org promotes education, of the way through college, and into industry. for us, the concept of diversity is everything we do. our team, our staff is majority actually majority female and includes people of color. our veteran community is about 45% female and i think 15% or so black and latino. our interview process is very intentional about letting each person choose how they want to be interviewed, including fill in the blank. that allows somebody who might have stage fright in a certain format or have imposter syndrome to find something that will make them feel comfortable and put their best foot forward. emily: now, you have also been sharing some of your own lessons as a founder. one of my favorites, the time that you say one dishonest word cost you a $50 million deal with steve jobs. talk to us about what happened there, and the lesson he learned. ali: this lesson was about the fine line between the hype and

lying, which i think is the subject being explored to this day in silicon valley. the situation was i was hoping to sell my company, and at that time, my start up was struggling. and as ceo, the job is to make people think you are not struggling. so you are inherently sort of ethically in questionable territory. steve jobs, our meeting went really well, and he said we would like to acquire you guys. we think we will acquire you for $50 million. so i was thinking, my job is to make that number higher. i was negotiating and said, actually, i think we are worth $150 million. then i made the big mistake, i added no, i know we are worth , $150 million. i did it in a tone that in my , mind, i was thinking, maybe he will think we have another offer. essentially, i was trying to mislead him and he saw straight through me and pounced on it and he said you are lying, you are , full of poo poo. [laughter]

ali: but the thing i learned that really has stuck with me is that, if a person thinks you are lying, most of the time, they won't say it to your face. most of the time, they'll tell other people but will not tell you. for me, i was grateful. i was like, may be other people will have the same opinion as me and i should think about correcting that. emily: you have invested in a lot of companies, including faced. when you look out there, what do you think are the biggest mistakes are that founders are making today? ali: that is a tough one to summarize. [laughter] i guess i would say right now, there is a ton of hype, and actually related to some of these things, like the stories that i just shared, these are about vulnerability, and about showing that no matter how successful you are, almost everyone has some mistakes, some things that they are ashamed of. and i think silicon valley right now, especially at this moment, exudes a little too much hubris.

i think it has a posture where much of the rest of the world doesn't like this feeling of one part of the economy acting like they are better than everybody else, acting like they have everything right. whether it is more successful executives or young people, they are harder and less effort of trying to pretend that -- i think a lot of, whether it is more successful executives or young people, are caught up in this effort of trying to pretend that they are perfect. part of my goal has been to show my own vulnerability, creating space for other people to do the same. i am in the business of encouraging young people to take risks, and showing that you can make mistakes and still succeed helps give others courage. it also helps them feel more comfortable receiving advice. emily: so, don't pretend to be perfect, and don't be full of poo poo. ali partovi, ceo of ne-yo, thank you so much for joining us

today. our interview about the drugmaker strategy to combat covid-19 and its variants, that is next. this is bloomberg. ♪

emily: as we heard earlier this hour, here in the u.s., the center for disease control has expanded its booster recommendation to 16 and 17-year-olds. that places even more pressure on vaccine makers to keep up supply as the world continues to combat the virus and its variants. my colleague, david westin spoke exclusively with the ceo of johnson & johnson, alex gorsky, and asked about the drugmaker's strategy. alex: first of all, i think it is important to acknowledge the great progress we have seen. clearly we have big challenges in front of us. if you think back to the uncertainty all of us around the world, let alone here in the

u.s. faced 20 months ago, about what we have the vaccine, therapeutics, what would be the path forward, we have made a lot of progress. but i think what omicron has demonstrated is look, we need to get everybody vaccinated. the sooner we can get everybody vaccinated, the more and more we are learning includes a booster, the sooner we will be able to prevent these additional mutations and hopefully get through it. we remain absolutely committed to this. in fact, we are working real time as we speak, not only on our current version of the vaccine to get it out to as many people in the world as possible, but also on a next-generation, depending on what we find out about omicron. and we believe it is still going to take a collective effort of many companies, many countries, frankly, the world, taking this on. david: what do you know at this point about the effectiveness of the johnson & johnson vaccine against the omicron variant? alex: we still have a lot to learn. what i would say overall is we need to perform additional testing.

we know that this virus likely transmits at a faster rate. that's not good. number two, we are trying to understand what it means in terms of the severity of the disease. we are encouraged by some of the other data we have seen thus far regarding how the current vaccines, particularly when boosted, are reacting against this virus. but look, we have got to gather more data from testing in the clinic, from real-world evidence. we will know a lot more in the coming weeks. but we are encouraged by what we are seeing. david: do you have any timeline of when you might have some better to read of how, particularly the johnson & johnson vaccine will work against omicron? alex: we should know in the coming weeks and have a better indication of how ours works against this particular variant. david: there is a lot of talk of next generation of vaccines tailored for omicron, other vaccine makers have been talking about that. it is a different technology that johnson & johnson has.

it's not the mrna technology. can you taylor-make -- can you change your vaccine to address omicron if necessary? alex: the short answer is yes. we are working on that as we speak. what we want to see is how the omicron virus will be impacted by the current vaccine? and again, we are encouraged by some of the data. we need to gather more on what exactly the efficacy profile will look like. but right now, we already working on the next-generation. david: one of the things i've learned that i didn't know before, is that there is a different profile for the johnson & johnson vaccine as opposed to the others. it doesn't raise the antibodies of protection as much in the early stages, but it may last longer. what do you know of the duration of the johnson & johnson vaccine? alex: from the very beginning, we tried to discover, design, and develop this vaccine to really have strong durability over a long period of time. and you are exactly right, your body tends to have two responses.

the first is the antibody response, think of that as like the first line of defense that your body musters to take on this virus. then you have what is called t cell and b cell, the longer -term. that's what really gives your buddy the memory so it can respond many years later, that you see with other vaccines. some of the data we have been able to pull together thus far does reflect that we have a very strong t cell and b cell response, and we are studying that right now to say, how exactly does that manifest itself in terms of durability over time? because one thing we know for sure is that this virus isn't going to go away tomorrow. so it's not only important that you have a strong response immediately, but that 4, 6, 8, 12 months later, particularly in some of these other areas around the world where the logistics of getting multiple doses is going to be really challenging. emily: johnson & johnson chair and ceo there alex gorsky. , that does it for this edition of "bloomberg technology." make sure you tune in tomorrow.

we will be joined by lindsay taylor would, ceo and general partner at the capital firm. i'm emily chang in san francisco. this is bloomberg.

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