romaine: obviously you just bring a wealth of knowledge to this. keep an eye here on the latest spacex launch. we are going to say goodbye and to what did you miss. that wreps up our coverage. keep watching bloomberg. >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. caroline: coming up, on the one-year anniversary of january 6 attack on the u.s. capitol, we will speak with representative connor, democrat of california. what he has to say about the

role of social media. plus, you can now get a rapid test liver to your door in minutes apparently. we will explain now coming up. the future of farming. they are announcing a fully autonomous tractor. we will talk to as to how fast we can expect these to hit the market. we'll get all of that in a moment. we have to check in on where the markets were. a big selloff. the rebound that is not last so long. kriti gupta is here to explain why the buyers do not come out in force. critic: it was a lot driven by tech. a little bit of buying throughout the day, which is why some of the losses are not as severe. a third day of losses when it comes to the big tech names. a lot of it has to do with what you are expecting in the bond market. the federal reserve especially, a lot of bets they will hike faster and more times. that is what is spooking tech.

a lot of which is driven by the hedge fund selling. rivian, this is going to be the second day shares are seeing a pretty big selloff. it has ended the day down 3%. at one point, it was done far more. a lot of that having to do with amazon buying even more delivery vehicles. the big question is amazon has allowed to buy part of their vehicles. rivian is only going to be able to sell to amazon. stock is dipping below the ipo price. also what leads the corrections. on monday, apple heading the $3 trillion market cap. you solve this pullback in tech in addition to the fact they are reacting to yields. i 2022, this is the slump here. had not really started. the question is you start to see

the dip buyers come back in? i want to end with a micro story we are getting after hours. dow jones reporting gamestop is entering the nft and crypto markets. there building their own online marketplace that will launch later this year, hiring as many as 20 people to work on the new product. him stop shares up 29% after hours. caroline: the meme stock has still got it would seem. now, this is a day of reflection because it is one year ago to the day hundreds of supporters of the former president stormed the u.s. capitol resulting in the deaths of several people. they were there for a rally to try to stop the certification of the rightly elected next president of the united states. that being jode biden to >> the former president of the united states of america has created and spread a web of lies about the 2020 election. he built this lie over months.

it was not based on any facts. he was looking for an excuse, a pretext to cover for the truth. he is not just a former president. he is a defeated former president. caroline: the events leading up to that day were largely organized online. through social media and yet as we mark one year, some would say little has been done to effectively stop the spread of disinformation, conspiracy theories, violent threats. they continue online today. joining me to discuss all of this, a california congressman. he was a man who was inside the capital during the attacks that day. it is wonderful to be with you. take us back if you will to this day a year ago and how you felt. >> caroline, i was sitting in my office. we heard that we needed to evacuate because there was a bomb threat. i left my office.

i started walking toward the capital. my phone was flooded with text messages saying do not go to the capital. i did not know what people meant when people were saying it was being overrun. i went back to my office. we ignored a bomb threat. i the doors and i was here until midnight. the speaker called for us after midnight to vote and it was a moment of pride we could still vote for president biden and harris to affirm democracy. caroline: congressman, i am sure from your perspective, you were torn because this is a moment where many laid blame at the feet of some companies within your representative area which were born in california. and he wanted more strikes to be taken to suppress this ability to incite violence through arrangements online. how do you grade the likes of

facebook, twitter, the likes of the publicly traded larger social media platforms that some role to play in this day last year? >> i'm very proud of representing silicon valley but i group the critics these companies, particularly facebook, are compliant. i read reporting on the ugly truth by two journalists facebook basically was sitting on information their private security has said are going to be assassination attempts. we are monitoring them online. a decision was made not to report that the law enforcement. not to provide any warning. let me be very clear. the first amendment does not protect the right to incite violence. it does not protect the right to plan assassinations. these companies need to do a much better job in monitoring and removing threats of violence and alerting law enforcement about the. -- about them should caroline:

many would say these companies have invested a significant amount. they are using algorithms. using people. it is a game of whack-a-mole. there are too many people to bring down. how do you feel about that? could more strives be made? >> of course. in this case, there was a decision facebook made not to report the information to give me a break. if these companies can micro target people based on their preferences and have the sophisticated algorithms, they certainly have the ability to remove threats to violence, incitement to violence or blatantly racist posts. some of the things do not meet the brandenburg first amendment test. they can do better from a legal perspective. they need to do better from a sense of what is in the public discourse and creating a strong

public discourse. the idea you can have people congregate and talk and that is going to great peace and mutual understanding it's so naive. if it were so easy, we would not need clinical philosophy or democratic theory. they have to take more classes in philosophy and ethics and journalism and be more reflective about their role as stakeholders in democracy. caroline: let's talk about that. in many ways, leaders of such businesses do not want to have to play that role. do not feel it is part of a company's right or authority to do so. is it going to take regulation? is it going to take some other area of force? they could be pushed into committing more capital to work. about the role in which they have in terms of taking down such >> >> information? it is going to take regulation to have more competition. regulation to not have them manipulate data in the way they are. regulation of basic computer

safety. the basic -- the philosopher juergen habermas said computers have a commercial basis but they are not commercialized. newspapers developed an ethic of informing the citizenry. we need to see that kind of ethics developed in social media. it is not simply about shareholder maximization at a look at what is there obligation to creating a fair public sphere? caroline: how does the fbi balance this? does the government, how does anyone prevent these attacks from happening but allowing discourse to take place on such platforms? ? the same way we do in town hall. i have town halls every month in my district and we have a wonderful discussion. there are republicans who stand up and say i am totally messing up and criticize me and don't hold back.

we have police officers there to make sure no one is threatening violence. we make sure you raise your hand when you speak and you don't shout over others. we know how to do this. it is not something new in terms of having a public sphere where everyone is equal and you don't have rampant sexism or racism. we need to be more reflective. caroline: many would say, indeed the leaders of the largest social media platforms would say this is being driven onto other areas of discourse. others social media platforms but are not as large and are not as overlooked and overseen. do you see that happening and how do we prevent driving it underground but it is still occurring? >> they are right. i would rather it be driven in niche quarters rather than mainstream. if you are on nbc or abc or the new york times, that matters more than if you are in some new space. a lot of these moments of hate

and anger have become mainstream on these huge social media platforms. if they say yes we can eliminate hate, of course we cannot. there's a difference between having it be mainstream and having it in dark corners. i would much rather it be in niche corners than mainstream and amplified the way it is. caroline: you are saying you are having town halls, you haven't discourse among the voting public. tell us what the business leaders have been telling you. what was the temperature like in that moment as to how culpable they were or were not. >> there is an understanding of reflection of their role. one of the most thoughtful -- two people who are thoughtful. reid hoffman who founded linked in really reflective on this. kim cook, -- tim cook, his commencement speech is worth reading at stanford where he says we cannot be human if everything is known about us and we have an obligation to be responsible with the data.

of course while he admires gandhi and john lewis. you have people in the valley who are very thoughtful, reflective. but we need to make sure is there is a broader conversation across the platform. they have done a lot of good i am proud of representing the area. but they have a much bigger representation to the 21st century democracy. caroline: talk to us about your obligation now and your role to make laws. what is the legislative outlook for 2022 which you think could bring to bear some positive change for the social media platforms. >> we have to do two things paired by 2025, we are going to have 25 million digital jobs in this country. we need to make sure rural america, black and brown communities have access to modern prosperity's young people across the country have the ability to have opportunities in the jobs of the future. need to make sure we have an

internet bill of rights. that has sensible regulations on data so our data cannot be used and targeted for purposes we don't consent to. and it has basic consumer safety standards. the idea with facebook they are using a platform causing anxiety, depression and suicide among teenagers, how are we allowing that? we would never allow that for any other product. that is about consumer safety products. we need regulation in the distribution of opportunity. caroline: we appreciate some of the time you spent with us talking us through your reflections on the time as you were there and some of the lessons learned. we thank you so much. coming up, as the demand for covid tests surge, we will speak with the maker of one at-home test aiming to get kids to your door in minutes. that is next. this is bloomberg. ♪

caroline: the world health organization says the omicron variant appears less serious than previous covid strains but should not be considered mild paired a director general of the who told reporters omicron is killing people. he repeated calls for government and business leaders to make vexing equity a priority. abbott laboratories said the company is ramping up production of its covid-19 test after the converges of a highly contagious variant with the holiday season led to an unprecedented demand. >> i think we have seen a convergence of two things. we have seen a new variant, a

highly transmissible variant in combination with a time of year where there is a lot of travel. thanksgiving and christmas, people wanted to get together. combination of two two factors had unprecedented demand. since the getting of the pandemic, maybe it has been at the 45 paired begin manufacturing with a manufacturing sites in september of 2020. we got to 50 million tests. we sell cases go down in the beginning of 2021 so we had to ramp down our manufacturing. as delta resurged during the u.s., we quickly reengaged. we are back to 50 million. this month, we will do 70 million. i'm working with my team every day to see if we can get to 100 million. > just to be sure, these tests can detect the omicron variant. >> this is definitely -- the answer is yes. we have been working not only with our own scientists but with

scientists around the world. we have a network of scientists. keep on studying not only the omicron variant that even new mutations to make sure the sensitivity we have with our test is still the sensitivity we have that consumers can trust and rely upon. what we have seen with our own internal testing as we have the same sensitivity we had even with the delta variant. >> how much of a challenge our supply chains? are you engaging with the white house directly over that and what is the outlook for this year? >> we have engaged with not only the white house. have engaged with governors and states and a variety of different stakeholders. it is tough for a lot of companies across different sectors. we have made sure to manufacture our tests in the u.s. we built three factories in the u.s. just to do covid tests so we had a little more control of

our supply chain. we are working with the white house. we are working with different governors to make sure every test we make, it does not sit in our inventory and we get it to the people so they can use it. >> let's bring this full circle to the consumer. how do you read the consumers use of testing and data going into 2022? has it given you any ideas about health care big picture going forward? >> i think the notion of you being able to do a diagnostic test and not have to go to a hospital or lab, this is a new consumer behavior that will emerge from the pandemic. maybe it believes this is a behavior that is here to stay. we are developing a new diagnostic testing channel with all of our partners to create an opportunity for people to be able to test not only at hospitals or doctors offices but even at pharmacies in their homes. caroline: great interview by ed

ludlow with abbott ceo robert ford. i want to continue this conversation on covid testing with the ceo of a health tech company that produces rapid covid tests. talk to us about the sheer scale of demand. >> it is a pleasure to be here and thank you for the opportunity. the scale of demand is unbelievable. we are seeing demand across the board. all the way from federal government to state government to large corporations all the way to small businesses and now direct to consumer. demand is off the charts. as much as we are putting ourselves on being data-driven, we were able to predict really well and be available to consumers and enterprises alike throughout the pandemic. we have seen -- today, we are announcing our availability to

get to people in 15 to 20 minutes. caroline: that is in a partnership that can deliver them at speed care there is still a limited supply. can one put in an order for loads? how are you monitoring this? >> we want to make sure everyone has tests. people can order up to four test kits, which are two tests in one kit. enough for a family. they contest multiple as they need. we worked really hard to make sure supply is enough. we are in more than 1000 cities across the u.s. you can get this test to your home in as little as 15 to 20 minutes. caroline: we talk to us about price point. i have just been in the u.k. for the holidays where you get these for free from the government. you walk in to pharmacies,

libraries pick a the u.s., the health care system operates in a different way. how do you marry that need to remain safe and earn a living and at the same time as pricing it right so it means the right thing for your business? >> we do both. we make tests available. it is available online and through amazon, walmart, walgreens and directly. somewhere between 12 and $15 per test. two tests in a box. each and everyone of our employees got a special allowance to choose a cause they care about and we give free tests to these causes. we make sure we have enough tests to work with governments, federal, state and local governments as well as we need to make sure we have availability to people who want to get the test at their home.

it costs money to get there. people who cannot afford to get it through these channels. people -- caroline: really great to spend some time with you. you are an incredibly busy man i am certain so we appreciate the time. coming up, four companies get the go-ahead. we will give you the details next. this is bloomberg. ♪

caroline: four sports betting companies will start accepting wages by the super bowl. they are said to be able to have met the requirements to accept and process mobile sports betting in the state. spacex just launched another 49

satellites into earth orbit. they will beam down high-speed internet services especially in remote areas. star link has launched over 1500 satellites and hopes to have over 4000 in orbit by 2024. coming up, as we look back when you're on since the attack at the u.s. capitol, how has social media changed in that time? that is next. this is bloomberg. >> americans increasingly are allowed to become effectively unhinged from reality in their views and in their views of the facts. ♪

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caroline: i'm caroline hyde in new york. we mark one year since the united states capital was attacked supporters of the former president. many falsely believing he had won. the lies were allowed to spread online, much of it unchecked. the former president was ultimately deplatformed from many popular social media sites after that date. we want to welcome an associate

professor of communications at syracuse newhouse school. jennifer, what has changed, one year on? jennifer: not much. fortunately, we had the next president take office, and he also is a fan of social media. we have to remember that what happened on january 6 can happen at any time now or in the future. i'm just sad to see that more actions work taken to protect americans from propaganda and we really need to address that still. caroline: any optimism that strides have been made anyway by the more popular social media platforms? facebook and its various platforms and twitter? david: i think small strides may have been made. in general, i agree with

jennifer, not nearly enough has change, given the scope of harm that has flowed from the abuse of these services. one thing that has change i think is the willingness of government to step forward and do some serious thought on regulation and there's some interesting ideas on forcing transparency onto the algorithms and the nature of who is speaking inside these services. but i don't think there has been any fundamental change of heart at facebook in particular. one change we have to acknowledge is that donald trump has been deplatformed by both facebook and twitter. that happened almost immediately afterwards. that is a significant change in itself, but it isn't systemic. caroline: jennifer, when teaching as an associate professor, but academically is being said that could be done? many would say they could throw more money at the situation, get

the algorithms up to speed, help people on the ground be able to monitor the disinformation on the platforms and have it taken down. from an academic perspective, does that work? is it just human nature in a game of whack-a-mole? david: it's a little bit all of that. i didn't start my career out six years ago studying things like propaganda. i learned it on the job out of necessity. one thing i do is screening in my social media classes, find the source. who actually funds that source? can you tell who published it? basics like that extend beyond media literacy. we need to educate the students in the public more generally that when the president speaks, that's essentially propaganda and it has gone unchecked.

while we speak about regulation, you have to remember there is a conflict in congress because that is how they get elected, they go out and set up a facebook page and acquire millions of followers sometimes. we can just worry about public -- the public sphere, i'm concerned we are not hearing enough news in journalism and that elected officials can continue to go out there and amplify their message unchecked. sometimes that includes lies, unfortunately. caroline: echo chambers, we have always kind of lived in them. used to ghosn meet in a bar or pub and speak to like-minded individuals and talk about your own viewpoints. we've always been able to step outside and have different viewpoints. how can we break down the echo chambers that build and thrive on social media, and that's how the media works?

david: it includes far more people. in this intrinsically divisive medium, you hear so many people because of the algorithmic amplification and the way you are shown content that you already agree with, you come to believe that everyone is thinking the same thing as you, and it leads to a fundamental delusion, in my opinion. but what could we do? i think as the congressman was saying earlier, and i think it is great he represents these companies and yet he is so willing to speak out, they could spend a lot more money, they could have more ethical concerns for the nature of content that is flowing across their services. ultimately they haven't shown they really care that much. they have constantly reacted. they only take actions when they are pressured or there is scandal and concretely regarding

january 6, facebook turned down their civic integrity efforts after the election because they said q is over, and then tons of things happened that they just let happen because they weren't watching. as soon as january 6 started, oh my gosh, we better start watching again and they started taking posts and people down. but they are fundamentally irresponsible in the way they manage their system. caroline: we are just hearing from the congressman, let's listen to the former homeland security secretary jeh johnson. >> social media at large i think is the issue that we need to tackled here. without curbing free speech, without undermining our values in this country, i think it tracks back to the american people themselves to more responsibly scrutinize information and news that they

consume on a daily basis. caroline: jennifer, that is the point you were making. need to take on board our own learning processes and ensure that we are getting information from the right source. but how does one do that? jennifer: let's talk sources. the homeland security is a federal government function. they have a really large social media presence too. helping people understand that this is an official source. this is not a news outlet. until it is checked by the media , by journalist, it is just information. every federal agency in the united states has a massive social media presence. i still have yet to hear from any representatives who have been elected who have suggested maybe reducing their own media footprint at this point. that's kind of what we need. caroline: and also rating media

to ensure that what appears to be a news organization really is a balanced news organization. or we have news organizations that are inherently politicized in and of themselves. jennifer: everyone is trying to look like a news organization. caroline: is there an answer to that? jennifer: the conflict is with the platforms. they are not journalism. they are distributors, and they have perverse incentives, as we saw with facebook and instagram. that's where we need more transparency to make sure that one company with an oversize footprint is not able to turn us toward a darker place in society. that is one of the main

concerns, facebook's size and mark zuckerberg's influence, unfortunately. caroline: is it a question of breaking up, is it regulation that brings us that transparency? david: i don't really think breakup would necessarily solve the problem. i like the laws that are being discussed in congress right now to enforce some kinds of transparency, for example when things are happening, it would be able to be determined by researchers and independent outsiders so that there would be more consensus at least in public about what is actually happening on these services. one of the big problems especially with facebook is they keep everything secret. they haven't really revealed a lot of what they knew about the lead up to january 6. even going back to the 2016 election of donald trump, they didn't reveal the targeting of the ads that russia laced.

they never said who those ads were targeted to. if these companies would prefer to have the freedom to do whatever they want, that is not tolerable. we have to really impose regulation on them. society is not going to wise up enough to remedy these harms. government has to force the services to act differently, and maybe people like zuckerberg have to learn to behave more responsibly, but i would not hold my breath on that one. caroline: david and jennifer, really great to get your input. meanwhile in france, google has been hit with a record fine over the way it manages cookies. facebook was fined for the same issues. authorities have told the companies to come up with a way for users to refuse cookies that is as simple as the existing means of accepting them. coming up -- >> the future of agriculture

starts now. caroline: john deere announcing a fully autonomous tractor that they say will revolutionize the way farming is done. that's after the break. this is bloomberg. ♪

caroline: the farming of the future. fully autonomous tractors. that's what john deere is promising after an announcement that sent its stock soaring. the ceo joins us now for more on this come alive from las vegas. ed: you see the images there on

your screen, a tractor in a field with no driver in the caulk. is this a truly autonomous vehicle, or is it like a roomba robot for farming where it goes back and forth doing whatever it needs to do in the crops? >> it's great to be here. fully autonomous, the first time ever we been able to take the operator out of the cab of the machine. in farming, as you well understand, we've had a connection between the human operator and the machine forever. this is groundbreaking in the sense that we finally get to break that connection in the machine goes out in does this work on its own. ed: there were some surprise for investors about this come the speed you've been able to do this. how many fully autonomous tractors will be in the fields this year and next year and what volumes do you need to produce that? >> we want to make sure we get this right. we will be in markets this year with those products, with

growers in their fields doing work for them and their operations. ed: i talked to folks in the trucking industry and we talk about autonomy in the covid era where drivers have dropped out sick, it's a really good tool. where does this fit in in agriculture? does it create jobs or take jobs away? >> it's a great question. the issue in agriculture is labor availability. we've had a movement of population from rural to urban environments. the world population growing, food production going up by 50% and the consequence of that. all of those things drive the intensity around producing more food with less. less labor is one of those things we need to accommodate and we see autonomy as the solution to that. ed: farming in any market, the margins are small.

the capital investment on this machinery is very high. our people going to be able to afford to implement this technology? >> i think so. certainly it reduces the amount of labor required, but the other significant portion, agriculture is very time sensitive and it is important that the job gets done at the right time of the year. if you don't have the labor to do it, you often faces significant penalty in terms of the amount of copy can produce. the payback for growers is pretty straightforward. in many cases it's a difference between getting the job done at all and not getting it done. ed: farmers can control the vehicle with their smart phone. talk me through that, why would a farmer need to be able to have control via an app? >> they want to be able to interact with the machine, make sure it is doing the job it is expected to do at the quality

they expected to be done at. so they want to interact with the machine and the way they would have interacted perhaps in the cot it, since they're not there, we try to emulate that experience for them on a mobile device. ed: who are you talking to on the commercial side? what kind of scale volume deals are you doing? >> it goes from small family farms all the way up through larger farms. that labor issue is persistent a matter what the size and scale of the farm is. whether it is one tractor or 10 tractors. ed: what does farming look like five years from now, what proportion of tractors are autonomous? >> i think the adoption of this technology will be quick. we have conditioned operators over the last 10-20 years with higher levels of automation and the autonomy is just that final step.

this is the solution i think they will adopt readily. ed: a dream come true, tractors farming autonomously. caroline: after the break we will talk about an ev car know well. it's manufactured by a canadian ev company. you look like james bond. this is bloomberg. ♪

caroline: we just want to check in on a key stock today, down almost 14%. the electric car maker tumbling

below its listing price. the e-commerce giant announced it would -- they said the partnership is unchanged. we note ev's are big deal this year but here's the twist you might not have thought of. a canadian company is showcasing some of its three wheeled tv's in las vegas, but can it compete with the likes of tesla in the market? the ceo with -- is with us. talk about the need and desire for smaller vehicles right now. >> the idea of this vehicle is for an individual, everything you would do individually. what makes it really special is the idea that is not an ev, a lot of those are coming out and the market loves him, but it's

really positioned and fun to drive. it centered around one person, it's a quarter the cabin space of full passenger vehicles. it heats and cools fast, charges fast, and you get the same range and mileage. it's just a well-built vehicle for the purpose of urban mobility challenges. we're finding great solutions for last mile delivery, small parcels and things like that. this is a fully enclosed cabin. we made a niche between micro mobility with motorbikes and scooters and cars. it's classified as a motorcycle but you have power windows, power brakes, heating, cooling, air conditioning, heated seat, backup cameras. it's everything you could expect from a vehicle. highway speeds of 80 miles an

hour, 100 miles of range. it just gives you a lot more flexibility in all kinds of weather that you might not get out of a two wheel vehicle and all the efficiencies you would get from a four-wheel. caroline: how many have been delivered to date? >> we've got over 60 vehicles we have delivered to consumers and we continue to ramp up production. we had our inaugural last year and we just keep ramping up. caroline: talk about the manufacturing goals. >> we produce out of china with our partners and there's about 20,000 units, the market is tough with supply chain issues and ship shortages and logistics. we have put a plant in the u.s. to service the u.s.. so we have doubled our capacity and there's room for more expansion. the idea is to start on the west coast in california and five

states, go north and east so we make sure we proliferate and give people what they're really looking for. the right tool for the right job. caroline: a canadian company making in china, but your focus is america thus far? have all those 60 deliveries been to american buyers? >> all u.s. at this point. our focus is to expand into asia once we get rolling in the u.s.. our u.s. capacity is for domestic product. u.s. source, u.s. delivered to serve u.s. markets, and our asian manufacturing will convert to asian deliveries. so we will have the asian markets also. caroline: give us an idea who the purchasers are. is it individuals who just want an easy way to work? >> it's a real mix. we've seen a split where retail sales for people who really want

to solve these urban mobility and parking challenges, half of them have been going to these very patient customers. we are filling the orders as fast as we can. we have sold to a series of initial sales for commercial users and were starting to see a lot of delivery, restaurants and places like that wanting to deliver themselves, and this is an ideal solution because usually there is only one driver to do deliveries. smaller, convenient, very economical, so it fits nicely into the next step. there is an evolution going on in the small vehicle delivery space. caroline: people want huge trucks and tiny vehicles as well. we thank you for your time over there in las vegas. that does it for this edition of

bloomberg technology. will be joined by a cofounder and partner at rich capitol tomorrow. i'm caroline hyde in new york. this is bloomberg. ♪

paul: good morning, i'm paul allen in sydney. sherry: welcome to "daybreak: asia." asian stocks look for gains, treasury yields continue to climb at a slower place. will get samsung earnings this hour. >> the st. louis president reimposed -- reinforces the hawkish