>> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. >> i am emily chang in san francisco and this is bloomberg technology. coming up in the next hour, instacart and walmart, there was talk about the future of commerce and interest rates and

inflation. which will take you there that. plus, will smith smacking chris rock and overshadowing his own oscar win. we will have a report from hollywood. and the future of biotechnology. we will speak about the promise of new science in a post-covid. let's get a look at the markets and tech stocks. cracks we have discontinuation of the risk on sentiment. particularly in equity markets. you can look at the nasdaq. it was interesting. i put bitcoin on there as well. it has been a little under the radar. the highest level of the year. 22 on bitcoin. it has raised.

you have to flag oil, not directly related to tech but oil is down sharply on monday. you see the futures and west texas intermediate down below $110 per barrel. now it is a question of global consumption. particularly china, the biggest consumer of energy products. every so often, a chart comes along and i want to talk about apple. just look at this chart. apple has its longest streak of gains since october of 2010. let that sink in for a moment. apple has cut production by 20% of -- because of winning demand. investors did not seem to mind. apple really leading the charge. amazon is not positive.

despite that narrative about higher rates, tesla is up 8%. this will go for another stock split. the second in two years. this is one of the makers of remote work to like headsets and video cameras. investors will take us negatively. also, the payments up to 45%. >> i always love those history lessons. appreciated. this week we are in las vegas. thousands of retail mobile will talk about the future of retail. the agenda covering the latest tech and trends of apparel and electronics to beauty and groceries. kai-chen is at the conference and joins us now.

>> the energy here is so high. one of the key trends i am hearing all retailers talk about is your video going forward. this could be short video come along video, lots of retailers are asking questions about these topics. there is a lot of talk about incorporating more technology into our everyday shopping experience. >> that said, we are looking at inflation, interest rates. all of this is really putting pressure on consumers. how are retail companies dealing with this? how are consumers going to respond? >> i think retailers are thinking about how to decrease the space.

examples like using video or personalized chat or having these recommendations are always that they can make sure they are more confident. >> the panel focused on china as a global e-commerce player and we know that in the chinese economy, chinese shopping economy, there are so many kinds of experiences that translate to a global audience. talk to us about what we see that that has the most promise and whether or not you see some of these trends catching on around the world. >> this is the biggest e-commerce trend in china over the last few years. you can buy everything on live video. everything from medical procedures to closing, fruit farming, anything you think

could be purchased online -- that trend is showing there is a lot of promise in the u.s.. there are companies experiencing with live video and they are seeing results. >> you talked about the rise of shop attainment. what about snapchat and video commerce? >> i think a lot of companies will have video commerce at the forefront. having customer testimonials, live demos, all of these things, just fantastic ways to sell product.

i believe there will be third-party apps that rise on shopping video platforms that will do tremendously. >> i know that this is a company that they invested in at an earlier stage. will bc other markdowns? is this happening at a lot of companies? >>. >> i can't tell you about that particular company. i tend to focus on the very early stage.

>> are you saying that the broader economics we are seeing, that is not really factoring in to your calculus at all? in terms of the early investments you are making? >> many of them are building for 5, 10, 15 years outward. >> what are you most bullish on as we come out of the pandemic? we are facing this kind of uncertainty. where are you placing your bets? >> i think covid brought a lot of behaviors forward in a great way. we are more used to ordering things on our phone. i think it accelerates a lot of the trends that were going to happen anyway.

i am particularly excited about companies that use ai as -- at the forefront. i am excited about ai and video in particular. >> how will we be shopping differently because of ai, video? >> i think that online shopping will be very normal behavior. you will not just be shopping on e-commerce platforms but also social media platforms or other platforms you spend a lot of time on. with ai, that means you will have much better personalization and that will improve the shopping experience for everyone across the board.

>> is this like a smarter version of qvc on social media? >> they are one of the original shopping video platforms but if you look at what happened in china, you get a glimpse of what is possible. china video shopping is one of the most popular ways to shop. it is great because you can ask the host questions and get real-time answers. you could say that you would get a freebie or give an extra one to get to a friend. all of those exclusive drops, special pricing. >> what is the role of the

creator economy? are influencers replacing ai? >> creators are important because they are curating product and they are building trust with their viewers. i trust the recommendations they are making based off of the things they have recommended. creators are still really important either as creators of product or curators and the duration is really valuable. >> granted your your view. thank you for stopping by. meantime, netflix is heading toward it just quarterly drop in a decade. that makes it -- necklace one of the largest.

coming up, prestone sat down days after the grocery giant slashes valuation. that is next. this is bloomberg. ♪

>> as a private company, even though business is incredibly strong, we really want to reflect the fact that we are not immune to the volatility of the

markets. by taking down our evaluation to reflect what it would be like -- >> brodstone was talking about the company's recent markdown. instacart slashes valuation to $24 million to reflect public markets. instacart is saying this is to give employees more upside. what more context did she give you? >> she called it an employee

first move. as you remember, last year, the ceo signaled a full pivot from just a food delivery business into a more full-featured enterprise looking business where instacart is providing technologies for this. this allows the private reset. >> she is pushing this idea of instacart as -- , can instacart take on amazon

in a way that she is expressing? >> it is funny. amazon is a measly 2% player. whole foods has not done that much. they are doing some interesting things with the checkout technology. kroger is another big giant. the dragon in the room is the big scale players that are modernizing. shoppers had told me that it was

not consistent with what is normal but it sparked this frenzy of shoppers -- some getting paid as low as five dollars. what did she have to say about whether or not they are fair? and whether or not this economy is sustainable? >> i said that. anyone who writes or reports about instacart, you tend to get these testimonials. from what i recall, i want to go back and listen to the tape but she did not talk about this. i asked if she could will -- she could raise the wage. she talked about a lot of specific features for female shoppers who are padres of their

labor ecosystem. i have a feeling they might be a little bit constrained. she talked about running a delivery business at cost and making instacart's margin on things like advertising and enterprise sales. >> thank you, brad. i will be with you tomorrow to interview the over ceo. >> the acquisition will help the laptop maker capitalize on the edit to hybrid work. they cell phone had sites and audio and video accessories. this gives shareholders a 50% premium on friday. coming up it went viral in seconds.

will smith slapping chris rock at the oscars. we will have more details on why. ♪

>> it is what everyone is talking about. known simply on social media as this lab. will smith smacking chris rock on stage in the middle of the oscar ceremony. this after chris rock made a g.i. jane joke about will smith's wife, jada. she has alopecia and has been going bald over the past several months. i have to ask you 24 hours later if there are any more details on

what happened here, the back story, what is next. >> the real question is what was happening behind the scenes. what did the academy try to do and not try to do in the moment? there were some reports about how they consider trying to intervene and stop will smith from speaking or talk to him for his book. the question is if he will be punished in some way. will they bar him from the academy or suspend him for a couple of years? we should know in the next day or two but maybe the next few weeks. >> the means about this incident -- memes about this incident are insane. this overshadowed will smith's own oscar win.

in his own speech he did not totally apologize. he kind of apologized. what does this mean for will smith's career? >> and history of the oscars and arguably in tv history, it marred what was supposed to be the culmination of his career. he has been one of the biggest movie stars in the world for 20 or 30 years and he tried to win oscar's before, he has been nominated a couple of times. his career was on the down slope for a bit and he really revised it over the past couple of years. to your point, we were talking about this one unfortunate incident. he is someone who lived in the public eye.

>> we have not heard from him, kristi -- we have not heard from chris rock you. why not? >> he handled it so well. he is probably waiting to see what the academy does. i got text messages with people asking me but i don't think he will say aloud. >> lucas, thank you for that update. this incident is not the only thing of note that happened at the oscars. there was a lot more about the ceremony. >> it was focused on will smith hitting chris rock. the best picture oscar went to kona. that is the first film distributor by an online streamer.

this is greater than the classic film studio. you might get $15 spent on cinema tickets, the studio might take care of half of that. maybe seven or eight dollars. apple tv plus talks about five dollars a month. that customer could be worth $120. rather than seven or eight dollars, you're getting 120. that will bring the talent to your studio and it has a real snowball effect down the line. >> that was alice webb there. coming up, huawei earnings out

at 70 plus percent. this is bloomberg. ♪

>> welcome back to boomer technology. i am emily chang in san francisco. shares of tesla jumping 8% after the company said it would seek shareholder approval. that is driving the stock higher despite other negative headlines. bloomberg sources say that tesla has halted production at a shanghai plant to comply with government lockdown. ed ludlow here with the latest. why the stock split's? >> the street is hypothesizing that the rationale is to lower

the barrier for entry. they talk about how tesla investors on the retail side are tesla owners. that a thousand dollars a share, it might be unacceptable to them. -- inaccessible to them. >> what were details do we have on how this will work? >> we don't have details. tesla communicated this in the tweet. then they put a regulatory filing saying they will ask investors to improve the additional shares. last year was in october.

we don't know if it will be a five for one, three to one, like alphabet and google did earlier. clearly the share reaction had investors liking the idea of another stock class. >> it is problematic. authorities in shanghai are doing mass testing. according to sources, tesla shut down through april 1. we don't know how long it will go. look at your screen right now. the difference is they have higher margins. the supply chain localized and in february, tesla delivered

56,000 vehicles from that plant. that is indicative of them outperforming this capacity. if this halls goes on, it could be disruptive for a company that has a lot of momentum in terms of scaling reductions. this is one we are watching closely. >> thank you for that update, ed. now, huawei out with the company's annual report. and seeing net profits surged despite the revenue decline. this is the chief security officer with us now. curious how huawei managed to pull this off. >> we are backing up. my last trip to china, i left january of 2020.

i was trying to survive. this is very heartening. we had to realign our business portfolio. we invested over 20% in r&d. the imports of cloud, the importance of carbon, we have over 267 of companies that have chosen huawei. we are making progress and we will work our way to the flourishing future. in the process, we are providing more around the world. >> we are facing another

geopolitical crisis. how will this impact huawei? i know that huawei is going to increase here. >> we are really upset about the invasion. learning about the history, going to museums, we can withdraw and return some of this taken from ukraine. a rotating chairman earlier today said we are studying the various approaches of governments around the world to try to come up with what our approach will be on this very troubling issue. >> does huawei need to abide by sanctions imposed on russia? what are your contingency plans? >> that is part of what we are

studying. what the terms are. this is the diversification of our supply chain. we can pursue other areas. having the ability to find value and create value and work on this part of the information. to help move toward carbon negative. we have a lot of different flexibility and product and we operate in 170 countries in the world. dealing with supply chain challenges, business continuity. >> let's talk about that way forward as we oversee business strategy. these have been really hard hit

by the u.s. ancients. >> we are pleased with the recent study of the 5g networks in switzerland and germany. as you know, our consumer business, wearable smart screens, entertainment, the tremendous search and that business. last year we had 10,000 deployments working with our partners. there are a lot of different ways we can survive and by heavily investing in research, we will find our way. >> what is huawei doing to address the concerns of those in

the united states? >> in light of recent cyber attacks, we are working with our competitors, the major carriers in the world to try to strengthen this and particularly standards for telecom equipment and working to create the independent testing programs. we are very open that the u.s. government recently emphasized the importance of cyber incidents. don't wait until really bad things happen. try to share information more quickly and sooner so the docs can be connected. we are very open to having the u.s. government here. how can we make sure that we are doing what is necessary to address real risk?

>> we see the chinese government crackdown on chinese tech companies. how can you ensure your overseas partners, business partners that you can avert this kind of intervention and that it will negatively impact the business. >> we have partners all around the world covering every line of business. certainly before i joined huawei almost 10 years ago, the idea of internal testing, external and independent testing, you have to

have certifications and find ways to be increasingly transparent. so our customers -- we are committed to the best practices and cyber security and we are open to ideas of how to improve. >> good to have you, thank you for joining us. coming up, how crypto markets are continuing to be impacted by the war on ukraine and how they can recover. more on that next, this is bloomberg. ♪

>> time for our crypto report. let's take a look back on the crypto markets. since the start of the war on ukraine, bitcoin and others have been fluctuating ever since, caught in the crosshairs between russian sanctions are broad and rising interest rates in the united states. let's bring in our own contributor. it is quite an interesting pattern. >> what is important to note is even with all the volatility, bitcoin has a raised his for the year. you can see that bitcoin has raised a lot. there has been a really big

buyer. they have been buying millions worth of purchases on monday. it does outpace the s&p 500 since the war started. and if you look at a theory and, they have risen even farther than bitcoin has. that is around the excitement and merge of other things. look at the 30% rise of a theory in. they started the -- people who are watching the space closely are waiting for her get to 50,000. >> there is a major regulatory

one. >> the sec has not approved a spot yet. even with the futures based etf. not a huge rise since it first started but we do see it coming back up along with the rise in bitcoin for the year. something interesting, you can look at it both ways. the big banks have started to make a lot of bitcoin derivative products that have helped institutions get exposure to bitcoin. my sources say every day that there is not a spot etf. more people get into these derivative products to get exposure to bitcoin while they can't get exposure to a more direct etf. >> we saw nft sales sputter a bit. >> you see a little bit of a recovery. it is down significantly from the highs.

this is by volume. this is all to say that bitcoin itself has taken arise. all of this falls on the heels of how fast bitcoin can rise. a quick thank you, that was our crypto contributor. coming up the future of biotech investing. jennifer will join us to talk about all of that and more next. this is bloomberg. ♪

>> as we come out the pandemic,

what does the future of the biotech industry hold? jennifer is trying to level the playing field by launching a new program to help women founders in biotechnology. joining us not to talk about all of that and more is professor down herself. i think the world -- most people would probably agree we need more of you guys in this world. talk to us about what the impact would be. >> we are so excited about this program. founded by a wonderful female entrepreneurial philanthropist. give them a head start to get their ideas launched and they found companies off of those ideas. it is next urinary opportunity.

quite why do we need more women in biotechnology? >> we have to think about people of all walks of life. the extraordinary advance is made. going forward, i think we just want to think about the largest opportunity to recruit people from everywhere to come into this field and work on opportunities in geo editing. >> what is your assessment moving into the post-pandemic and the role that gene editing will play in preventing the next pandemic from happening? >> it naturally works in nature.

going forward, we will be using it not only as a way to detect the presence of infectious agents but also using it to take the kinds of changes in the genome. i think there are two ways to prevent that kind of pandemic we have just been through. >> there was some controversy in this world. >> this is a common theme. and areas of technology.

they have a very strong intellectual property here. the partner companies are not impeded in any way. >> on that note, how does this impact your efforts to commercialize this technology and apply it to heart problems for generations to come? >> not at all. i had a wonderful conversation just last week with victoria gray. she is the first united states president who received this for her cell disease. incredible to talk with her. this is something that she could not imagine doing when she was dealing with the ongoing impact of sickle cell disease. i think that is the future.

we will have more and more opportunities to change people's lives for the better. >> talk to us about your near-term goals and long-term goals on the therapeutic roadmap. >> near-term, i think we are on a path to continue expanding the kinds of applications -- using it as a way to protect, all of this comes to mind. they were on that same path. i think further down the road, i think crisper eventually becomes the standard of care for certain types of disease. i think that is something i can envision. that will only happen if it was developed with an eye toward sustainability. victoria gray's treatment was close to $2 million. we think that one way to bring

down the cost is to do the kind of research we have ongoing at the genomics institute. >> what is your outlook on the future of the biotech returns? >> this was -- do you see a new era for biotech investing be ushered in over the next decade? >> one thing that is driving that is the intersection of biotech with other kinds of technology. hardtack for example, computer science. i think many of us see that there are amazing opportunities when these areas and technologies converge. i think the next decade in this area will be very exciting for all investors. >> we should be investors be putting their money? >> i would recommend looking

into agriculture and synthetic biology. these are areas where we need other technologies to address the challenges of climate change, the growing population on our planet. >> always good to have you here on the show. thank you for joining us. that does it for this edition of bloomberg technology. tune in for the is list of interview with it ceo. i will be speaking with him in las vegas. we will be live at the show. tomorrow, don't forget to check out our new podcast. you can find the terminal as well as online. i am emily chang and -- in san francisco. this is bloomberg. ♪

yousef: this is bloomberg daybreak: asia. -- middle east. asian stocks on the prospect of cease-fire talks between russia and ukraine. president biden unveils a $5.8 trillion budget containing 2.5 trillion dollars in tax hikes on billionand