>> from the heart of, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco, and this is "bloomberg technology." elon musk envisions that one day this spacecraft will take people to mars. we up at the latest on starship, and when we could see it go into

orbit. plus, playing for your uber in crypto. not yet, but the ride-hailer will accept a crypto one day. and betting big on the super bowl. faneuil's--fanduel's amy howe talks about the biggest day of the year in sports betting. stuck stopping as tensions between russia and ukraine mount. kriti gupta can walk us through the day. kriti: we started on a down fitting anyway but that accelerated 1:00, 2:00 p.m. in the afternoon when you started to see reports of a potential accelerated timeline for an invasion from russia into ukraine. that was confirmed, the expectation, the intelligence confirmed by the national

security advisor jake sullivan, in particular coming out and saying that this accelerated timeline is something the white house is considering. they encourage pulling out americans from ukraine. this is crucial when it comes to the markets, because the s&p 500 closing down nearly 2%. you can see a nine-basis point move when it comes to the 10-year yield. and weakness when it comes to the ruble. we have got to talk about international currency, because this will affect risk assets, tech pretty predominantly. even oil, the geo political premium, up to $95 a barrel. in the next week the timeline before the olympics end, that is when the united states is potentially considering this possible invasion, and if that happens, you can see and other like lower for the s&p 500 at a time when the u.s. assets are trying to price in a hawkish policy. i want to look at tech

volatility, because that is where we are going to see a lot of the action. this is qqq, nasdaq etf. take a look at how much outflows you have been seeing. focusing on 2022, the longer red bars are the conviction selling at the beginning of the year, but it has not attracted net inflows on a weekly basis. the retail crowd, despite buying, is not outweighed by the institutional crowd. we are seeing money getting pulled out of the etf, which brings me to the volatility in particular. vxn, volatility for the nasdaq, you can see this pretty huge spike when it comes to 2022, conviction selling. but this week and particular, with the hawkish. , combined with cash hawkish-- hawkish pivot, to mind with the geo political risk -- do you see this calm down over the weekend and calm check down a little bit? emily: thanks for that update.

elon musk is predicting the new starship spacecraft will be ready to go into orbit in a couple months. the spacex founder is eventually signing up to three flights a day, and he says they will be relatively low-cost. elon: the more lunches that happen, the lower the total cost --fully considered cost for a flight would be. but i'm highly confident it would be less than $10 million. emily: relatively is relative, of course. joining us from the spacex site in texas, ed ludlow. what was elon like, what mood was ian this evening? e-- he in this evening? ed: it was classic , i numbers and science heavy-presentation. didn't really follow the powerpoint, cap everybody on his toes.

if you look at the area behind me, i am here in texas on the mexican border with the u.s. everything behind me is wildlife reserve. the sticking point is that the faa, the federation, federal aviation authority, is making environmental assessment -- how much damage if any could starship do. musk said he was confident or optimistic that perhaps as soon as march the faa might give him that approval. that would be a big step towards getting that big thing over my shoulder into space. emily: let's talk about that big thing over your shoulder. how exactly would this work? what we know about getting to mars? ed: the most substantive point of his presentation -- sorry for the noise, there are fighter jets over my shoulder, wondering who this guy hanging out outside spacex is the last three days -- it was about the raptor engines. on the starship system, you have

the super heavy booster on the bottom. 394 feet in total. it is powered by 32, up to 32, 33 raptor engines. each raptor engine has to generate 450,000 pounds of thrust, a lot of thrust. elon was saying they are making a raptor per day at the moment. on the engineering side they are making a lot of progress. yes, we are waiting on the faa, but in terms of the technology and engineering, they are a couple of months from this being space-ready, and they are confident in the rocket science, i guess. emily: what about mars-ready? when when when? ed: you know, elon showed some self-restraint. he did not make the bold predictions he has made in the past. did we get clues? yes, we got clues. he talked about the end of next year, 2023, they might attempt to refill, another word for refuel, starship in space.

i mean that literally -- launch the starship system into orbit come were another starship vessel is waiting in orbit. the to merge and a refill. if they are able to carry that out, it is a good sign we are getting closer interplanetary travel. mars is almost 200 million miles away. yes, 200 million miles away. we will need a refill with the propellant to make it there. that is the next rocket science breakthrough they are aiming for. emily: ed ludlow in texas, you will be watching. thank you. another story we are following, bloomberg has learned that zillow is selling more homes to premium partners as it unwinds its home-flipping business. it acquired more than a hundred properties from zillow for nearly $300 million. it has agreed to buy 400 more homes for roughly $150 million. coming up, microsoft, starbucks, paypal, all companies that

accept crypto payments. uber could be next. the ceo tells the why, coming up. this is bloomberg. ♪

emily: uber projected $5 billion in ebidta in five years, after revenue beat estimates, showing rides are back to the platform. likely guy johnson and i spoke to ceo--my colleague guy johnson i spoke to ceo about dara

khosrowshahi about crypto and why investors don't seem to be buying uber's recovery story. >> as you know with interest rates increasing and inflation expectations increasing, i think the market has been difficult market for eight lot of companies out there. but if you look at the fundamentals of uber, nominated the law--nominally long-term but even this quarter can we had growth on a year-over basis, bookings highest ever, up 50% year on year, and we had the second quarter of profitability and projected $5 billion target ahead of us. all of the metrics as it relates to the business are headed in the right direction. i can't predict market movement short-term, but long-term uc stocks move with the fundamentals. i know the fundamentals are absolutely going the right way with uber. emily: you said prices are

starting to come down, but inflation is hitting record levels elsewhere. i wonder if you are concerned that that is going to hurt demand coming back from the platform because your riders are paying more for every thing else. dara: if anything right now, it is a great concern, but if anything, our marketplaces have been more supply-constrained then demand-constrain. i knew demand for rideshare, 24 deliver -- plenty of demand for rideshare, plenty of demand for deliverables as well. what we historically have a tough time with his getting as many drivers and careers to join the network as we wanted to good the good news for us now as we are up to 4.4 million burners on the platform. we added three to 25,000 earners -- 325,000 earners onto the platform last quarter. as a result the market place is becoming more balanced. i think inflation is here to stay, but it is about balancing supply and demand.

right now the balance is in a good place. guy: uber is what you call a long-duration business. looking for profitability and the returns as the business matures. as interest rates go up, a potentially becomes tougher and tougher. you said you senior can volatility but you are more confident in the long term. what gives you confidence in the long term? it seems like a tough moment in time to have long-term projections. dara: i think we are seeing it in the business right now. business is coming back faster than ever before. record booking levels. and we said that we are going to hit three cash flow positivity -- pre-cash flow positivity this year. i think with uber you have the balance of in the short-term, what have you done for me lately, we are delivering profits, we are delivering cash flow profitability. q1 is stronger than q4.

that is not true for some of our competitors. and at the same time we are putting a marker down on long-term growth in from 22 to 26% and significant incremental profits as the business grows. you want improvement next quarter? you want improvement next year? you got it. but you want long-term growth five to 10 years with increasing margins? we had that as well. we deliver on both the short and the long-term, we will be just fine. emily: dara, you have a huge super bowl ad campaign with gwyneth peltro -- paltrwo, trevor noah, cousin greg. how big a business do you think nonfood delivery can be as part of eats, and is this marketing paying off? these are pricey celebrities? dara: they are, but they are worth every penny. we are seeing with uber eats it

is absolutely becoming a cultural phenomenon. the tonight i will be eating campaign, we wanted to throw another twist because the nonfood product is at a $4 billion run rate and growing very quickly. we are doubling down on grocery and other products as well. we wanted to get the awareness out there. we are seeing consumers who start buying groceries and other items on uber eats actually start using uber eats more and more. not only is it a new growth path for us, it cements our relationship with our customers. the ad has gotten a great response. we're looking forward to the super bowl. emily: we are preparing for an onslaught of crypto and metaverse ads. i'm wondering if any of this has convinced you -- is there any chance of uber accepting bitcoin in the future? are you having conversations about this internally? could it happen someday? dara: it definitely could.

we are having conversations all the time. what we see with bitcoin and the other cryptos is that they are quite valuable as a store of value. the exchange mechanism is expensive, it is not great for the environment. as an exchange mechanism becomes less-expensive and more environmentally friendly, i think you will see us lean into crypto a little bit more. we are watching it. is uber going to accept crypto in the future? absolutely, at some point. this is in the right point, but we will. guy: we look for to that moment to come and you updating us to when it is going to be. can i take you to london, where i am right now -- you are backing the mayor of london's plan to shift the way that we charge congestion charges likely to go and we are likely to shift potentially from pay-as-you-go, pay-per-drive, pay-per-mile

model. you think backing the mayor will help you with your license renewal can which is coming up in march? and i'm also wondering the bigger picture here -- if we had to this kind of model in london, is that a big step towards pooling? i assume that will be a huge step forward for uber. dara: we are backing the mayor because we think these kinds of charges are the right way forward. congestion is not good for the city, not good for uber. what we believe in is that the vehicles with the greatest amount of utility should be the ones that use the roads. i think utility increases become more environmentally friendly, 10% of kilometers in london are ev vehicles and we will keep pushing that up. i absolutely do believe that pooling creates more utility. more than one person in a car, that is an area of the business that we are investing in. we are investing in a lot of

developing markets and high-capacity vehicles. you get 10 people in the bus and you can call it uber bus, but it uses a technology we have in terms of routing, pricing, matching, and takes it to the next level. we're looking forward to partnering with london going forward. congestion, lowering congestion is in everyone's interest. emily: last question, your head of mobility set getting taxi drivers will unlock the next chapter of growth. i'm curious what you are prepared to offer them, given that taxi drivers, many of them around the world, don't have a lot of fond things to say about uber. dara: well, i think what we have to offer them is demand. ultimately whether you are a uber driver or taxi driver, you want to get paid for your time, and time with your cart empty is not constructive. it is not good for anyone, not

good for the environment as well. we are building out sets so that you as a consumer if you want to take a taxi or uber, you can, so it is great for the consumer, but taxi suites hopefully will work with us, and if they do, it will get more demand, which we think is win-win. emily: uber ceo dara khosrowshahi there. coming up, security of the internet. we will be joined by matthew prince in an exclusive interview on the heels of their results, talking but everything from cybersecurity to the metaverse and more. this is bloomberg. ♪

emily: a bright day for cloudflare as shares pop after their earnings beat expectations.

with more potential cyber m&a and outages that could take companies out as big as meta, how does cloudflare view the security of the future of the world wide web? joining us this ceo matthew prince. great to have you back with us. talk about the cloud spending environment first. how much room doesn't have to run on the infrastructure side? matthew: during the pandemic over the last two years, a lot of i.t. organizations hunker down on what they were doing before. what we are seeing the last two quarters is that i.t. organizations are opening back up and they are seeing that the cloud is the future of what they are doing and the future of their network security. think that is one of the big reasons why we had a record year in terms of growth and 50% year-over-year, record quarter, 54% are over quarter. i am proud of our entire team. emily: you made some acquisitions recently, and i'm curious what you think of our bloomberg reporting that microsoft is considering a deal to buy the cybersecurity company

mandy and. matthew: i think the cybersecurity space is a big space and something that we are always looking at ways we can improve, we can look for great companies that are out there. we have a ton of respect for mandiant. they have felt an incredible company and turned around a lot of what happened at fireeye. i think that is a great addition to the ecosystem. we don't compete directly with them. i think we partner with them in a number of ways. we are great partner with microsoft and look forward to expanding that going forward. emily: you are not a partner necessarily with amazon and aws. i notice you have taken some shots there. what is the argument for customers to choose cloudflare over amazon? matthew: amazon has built an incredible product, but they have not innovated for a long time on pricing. especially around bandwidth pricing, what they are doing is they are using what is sort of a crazy pricing strategy to keep

their customers from being able to try anyone else or experiment or have other innovations. they tried you to take data out of the service but don't charge you to put it in. it is the hotel california of services. what we want them to do is follow what other leaders in the space have done like google at oracle and cloudflare say we will continue to drive down the price of bandwidth and we should not be charging you to take your own data out from the system. emily: facebook, instagram, and whatsapp went awol in october. i'm curious -- you put out a blog post about this and went into detail about what happened. is too much of the internet in one place? matthew: i don't think that is necessarily true. i think the challenge is that the internet was really built for what we have asked it to do. 45 years ago when we were originally putting down the original protocols for the internet, we never imagined so much commerce and so much banking and so much of our lives

would be flying through it. and yet today it holds up remarkably well. what we think of at cloud flare is how we have a time machine we would go back to those 45 years and reinvent how the internet itself works. our mission at cloudflare is to build a better internet and make sure that no matter what you were doing online, it is fast, libel,--fast, reliable, secure, efficient, and private. that is something everyone needs, even companies like meta. emily: i forgot to ask you about the take favorite buzz word, the metaverse. how big do you think it will be, and will cloud flare have a role in it? matthew: hard for me to say how big it will be we see on top of the latest innovation in the crypto space and a huge amount of the crypto universe behind cloudflare, what all of these new things, whether it is the metaverse or cryptocurrencies or web 3.0, what all of them need is a fast, secure, reliable network. we have built one of the

fastest, most secure, most reliable networks around the world. that is why innovators, regardless of what they are doing, are turning to our platform and our technology to make sure they are helping to power the future. emily: still a looming concern around the big cyber vulnerability. what is the status of patching that? are we still a risk? matthew: it is the most significant vulnerability over the last five years. we thought it was significant enough that we provided patches to all of our customers even if they did not pay for the security function. even if you were a free customer, we patched it. i describe it not like a virus or a worm, which are traditional challenge on the subscription space -- it is like a spore, going to linger around and might show up in unusual places. if you have a system that is out there, make sure you are patching it. emily: cloudflare ceo matthew prince, not a virus, but a spore, i will remember that

as the pandemic wanes, we are spending money on travel first, according to expedia. what does it mean for summer and the year ahead? the expedia ceo with us next. ♪

emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. let's get back to the markets in kriti gupta. a firm release their earnings results really by accident this week. kriti: wild story can we will get to that in the second. another down week for the s&p 500. down 1.8%. the number earlier in the session was 0.4%. you could see the losses accelerate after news that a russian invasion, if it does

indeed happen, may not be waiting until after the beijing olympics. that of course spooking markets across the board. even the nasdaq composite down 2%. ending the week lower by 2%. pushing of the volatility gauge even higher when it comes to the nasdaq. 10-year yield getting another bid. money going back into treasuries. let's go micro and talk about earnings. a firm coming up with a 77% revenue search accidentally tweeted, but then investors pulling back. when they did enter their earnings, they reported a net loss. 20, $6.6 million the net loss at $160 million, just shy of that. you can see the dip at the end of the stock chart. firm shares -- affirm shares taking a big tip. it follows trends with fintech companies. the idea of buying now and pay

later taking a little bit of a back footing as people go back and shop in stores. another thing to keep an eye on with earnings is travel. expedia, you can see in the last three months or so, omicron did not have as much of an impact on their bottom line as you would think. you can see over the last two years, expedia, the orange line, coming out on top. tripadvisor actually taking back foot and lagging. booking holdings somewhere in the middle. what is important is that in the last couple months they are starting to turn upwards. this is an talk about this this is important as we talk about how consumers focus on -- this is important as you talk about how consumers focus on travel relative to the variants. emily: that is music to our next guest's years, i'm sure. as the world pivots from pandemic to endemic, a strong travel season topping analyst

estimates. i want to bring in expedia vice chair and ceo peter kern. talk to us about the trends you are seeing in terms of how and where people are spending their money as the world reopens. peter: great to be here, thanks for having me, emily. what we've seen over the holidays, obviously omicron was a big factor in december and through the holidays and into january. but the nice thing that we observed was it was fairly quick, it was not that deep of a hit, and consumers really seem to be less afraid of travel, and were just inconvenienced by the issues through omicron. we have seen a quite fast rebound. it is highly focused in the luxury areas -- excuse me, leisure areas. in the home rental business remains quite strong for us. many of the things that have been popular through covid remain -- corporate, international, big-city travel

still liking, but we expect that to be the next set of things to come back as more borders open and people become more comfortable and it becomes more of an endemic stage where we believe people will travel fairly normally and all of those pieces will come back into the market. emily: let's take a window in time. how do you expect this summer compared to the summer of 2019 before any of us knew the pandemic could be a thing? peter: i think this will be the biggest summer we have ever seen as a company. it won't be universally strong. places like latin america will probably lag considerably. in western europe, probably all of europe, certainly north america, we expected to be boom time. you never know. you never know what covid throws at you could but if we stay on the trajectory we are on, we expect huge pent-up demand for summer travel this year. emily: that said, are you preparing for other variants?

are you worried about other variants? peter: i would say we certainly think about it, but much less than before when we spent our days wondering about how we would react to the next covid variant. we are much more focused on what we are going to deliver as a company in terms of product innovation marketing innovation, etc. we are very focused on what we are going to drive to the traveler, how we reimagine ourselves in the travel ecosystem, and day today we are not that worried about covid. we are watching signals. we watch the science news closely. but we pulled back much less when omicron hit and i think the next one will be even less and over time perhaps we will barely adjust with each new way. emily: talk to us about vrbo and the mental competition with booking and airbnb. you getting market share? is it still hand-to-hand combat? peter: i think for us, vrbo specializes in the home

experience, and in our markets ere we are strongest, the leisure markets where we have focused our attention, we have gained and held share through covid. i think as the entire world comes back, some of our competitors have more distribution -- in the big cities, for example, that i mentioned, they will benefit certainly from room rentals in those cities. it is not something we really focus on. in a broad share sense, they may see opportunity, but in terms of the places where we are focused, we feel like we have made great headway during covid and we will retain and build on it. emily: to a certain extent you also mentioned this, but we are seeing demand still on the weaker side for international listings. do you expect that to come back to full strength and vigor, and when? peter: i think it is the next move in the market, international and big-city travel. assuming the summer is as strong

as we hope, a lot of that will be the old-fashioned trips for americans to europe to big cities, paris, rome, etc., london, and the universe. i expect cities and international travel is probably the next big win, including hopefully international air, because you cannot get there without a plane and that is a tough part of the business. corporate probably lag somewhere behind it. but we do expect that those places will fill up as more and more people get on the road and everyone has had three trips to a national park, can't wait to go to paris or rome. [laughter] emily: i love it. we will be watching to see if the traffic moves from national parks to beyond. peter kern, expedia group vice chair and ceo, thank you. coming up, crypto takes over the super bowl. we will talk about some of the ads popping up during the game this year. that is next. this is bloomberg. ♪

emily: the uber ceo talking about the company accepting crypto down the line. time for the crypto report with sonali basak. what you make of that? sonali: what is interesting is it is a matter of time in that you have the sharing economy first that has not adopted crypto into big way, but the creator economy, which is the next step of the new economy, doing a lot faster of the transition when you look at companies like twitter looking at ways to tip people over the platform. how does this at the end of the day help people make a living? and thinking of a conversation with someone you know over at a firm and when i talking about the payment method of crypto, he was doubtful about the immediate use for payments. but another aspect he brought up, emily, is the ability to save.

as a storage mechanism, as a place to invest, as a place to build wealth as a opposed to a place to create wealth. emily: crypto is everywhere now and not just on uber's mind, but taking over the super bowl. so many crypto ads this year. one is giving crypto away to viewers it could add up to hundreds of thousands of dollars per giveaway. sonali: it is a big time for them because they have been tweeting up a storm, all the executives, about opening up the waitlist for their products as well. you have crypto and you have stocks trading, not running a super bowl commercial necessarily, but in the background, you can trade crypto . sofi stadium is where the super bowl is being held. a lot of eyes on crypto here. gotta say, i was at madison

square garden the other day and i did not see any crypto ads. it was a little surprised by it. emily: it is not necessarily slamdunk. that matt damon crypto.com ad really got dunked on. sonali: and remember, this is a huge time for these exchanges to be putting out these ads. if you bought crypto at the height in november, we are down well over 30%. when crypto is up there have been a lot of great public sentiments around it. but he gets a little choppy or went people lost money through both the crypto market more plainly and also things that have been out there that have not been as safe. emily: also going to be around the metaverse and that i believe bud light is one, and you have salesforce with that #teamearth ad that we have seen 25 times watching the olympics. sonali: it is interesting because you have crypto, the metaverse, all of these things and he wonder if they will

continue -- confuse the general audience at the end of the day. if nothing else, it will be a large marketing campaign for the new technology companies that are trying to love these new products. can they convinced everybody to put their money into these areas? emily: and then there is great, spending more than a million dollars in bitcoin on the super bowl. unfortunately, i believe he is rooting for the rams. sonali: so interesting, not betting just on the ramps. he bet $500,000 on the rams wide receiver having a point anytime touchdown. i don't know what that means, i have to be honest with you. that speaks to broader themes going on. i was saying there was going to be a point where stock trading became less exciting for the individual investors and sports betting, especially as new york open of just-in-time, would

become more exciting for the individual investor. emily: i'm still bitter the nine rs are into. i don't know if i can even watch, but i feel like i have to for work. [laughter] sonali basak for us in new york without crypto report. -- with our crypto report. betting adds want you to come to the super bowl and gamble forever. more on how people are gambling ahead of super bowl sunday. that is next. this is bloomberg. ♪

>> apple is giving up for its first product launch event of the year. for its spring release, the company plans to showcase a new iphone sc an updated ipad air and perhaps even a new mask with its silicon processor. the iphone sc will look similar to the current model from 2020 but include a faster chip, updated camera system, and support for speedier 5g networks. the ipad air will get a similar update after an overall you will include updated camera features. apple is working on several new mac including nia mac pro in a revamped macbook air. it is possible that one of these mac also up m=-- macs at the

march event. september for the iphone 14 and other smartwatch models, and later in the fall, a bunch of new mac. i am a mark gurman. this is "power on." emily: don't forget you can subscribe to mark's weekly newsletter at bloomberg.com. from covert measures to complicated logistics, tough enough to host the, winter games but another challenge is climate change. time is, to demonstrate its commitment using carbon free electricity, but the country needs to show that its technology has a lasting impact beyond the games. this report from beijing. >> it makes me sad that we need so much and made snow to sustain winter sports. >> from covid measures to complicated logistics, it is tough enough to organize and host the winter games in china,

but another major challenge comes on climate change. beijing is the first posted to rely completely on man-made powder. artificial snow has become winter olympics fixture as climate change shrink the number of countries that get natural snowfall to host events. the area where i'm standing i was one of the main sites of the beijing olympics for skiing and snowboarding events, and it is completely covered with fake snow. you can tell just by walking on it that the service is a lot harder than natural snow. and these ski slopes where elite athletes light and glide are built on former steel mills that used to be a major contributor to urban small, a reminder that china faces myriad challenges in meeting its climate change commitments while continuing to increase industrial output. china is hoping to use the to demonstrate its commitments, using technologies like carbon free electricity and making ice

with carbon dioxide instead of prions. the pressure is not just on china. olympians themselves have seen the change first-hand all over the world. >> you go to south america, where we used to train every summer, august, september. they have had no snow for several years in a row. like, none. >> in the sochi games, the halfpipe was melting my we were competing on it. they were spring some chemicals on it to get it to stay in shape. you go back and watch that event, it is clear it was really warm. not ideal for snowboarding. kurumi: the international olympic committee says it will contractually obligate future hosts to be climate positive, meaning they will have to remove more carbon dioxide from the atmosphere than they emit. >> the biggest threat facing bees called--these cold mountainous regions is a warming climate. on this map i collided some dots that--- plotted some dots that

represent winter olympic host cities. a lot of them are getting really warm really quickly. that has ramifications for the big games as well as the global economy, global climate, global weather. kurumi: china needs to show technologies have a lasting impact beyond the games. china still relies heavily on fossil fuels, and after the 2008 olympics, the steel plants resumed production and the country's missions rose on an annual basis. >> at the end of the day we need systemic change to have the impact that we need to preserve these places. emily: kurumi mori from beijing. the first super bowl of the online betting era is upon us and it is going to be wild. over $1 billion expected to be legally wagered on bengals vs. rams. fanduel ceo amy howe with us by

phone. you have a super bowl ad of your own. what are you hoping to convey to viewers? amy: as you said, this is going to be one of the biggest sports betting moments in history. what we are trying to convey is it is a fantastic experience for new users on the platform and we will give you great audits, -- odds, 6 to 1. we have enlisted jennifer coolidge as lady luck. you don't need to lady luck so she can go on a well-deserved vacation. one of the 14 states where sports betting is legalized, there is lots of great ways to participate in fantasy sports and you name it. emily: huge jennifer coolidge fan. your commercials are everywhere. you continue to spend on marketing, and is it paying off?

amy: the important thing to remember is the nfl and super bowl specifically is one of the biggest activation moments we have. we will spend more on these types of events pit you have to remember we are in the early innings of this. we would love to build a sustainable business long-term. we want to make sure we are getting customers onto the platform early as these spaces open up. we have a lot of data and science and leverage a lot of tools to make sure we are spending so we feel good about that equation. the return on marketing investment -- emily: all right, we will be watching for your as this is super bowl sunday. amy howe, ceo of fanduel, thank you for joining us. that does it for this edition of "bloomberg technology." i'm emily chang in san francisco. we will see you monday after the super bowl to talk about how it all went down. this is bloomberg. ♪

david: waiting for answers on the economy, russia and ukraine, covid and the fed. this is bloomberg wall street week, i'm david westin. larry summers on whether economic sanctions can change the facts on the ground in ukraine. >> unilateral sanctions can be assad or i will shoot myself in the foot policy. david: taking us through the rough ride in the market, and talking about winners and losers in the streaming video wars.