>> from the heart of where innovation, money, power collide in silicon valley and beyond this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco this is bloomberg technology coming up the next hour tech stocks plunge amazon having their worst day since 2006 the nasdaq at sinking. the biggest pain points for big

tech going forward. elon musk sales tesla chairs -- shares to pay for twitter and he starts to come up with billions more. tesla shares are down and twitter shares are trading lower. can muska make the tricky math at up? over to his of the company we are watching the spacex rocket about to take off from cape canaveral. it is poised to make history marking the fastest turnaround for a refurbished rocket ever, we are all to you live. in a moment let's take a look at the market. tough day for tech stocks, extending the losses worth monthly drop since his -- the global financial crisis. >> it is hard to put it in perspective you're looking at the s&p 500 adding is worst month since march of 2020, big tech having its worst month

since the fall 2008, if that does not put into perspective i do not know what is. you have brilliant endless coming up on your program, there is a big disconnect, i'm taking a look at a chart of the nasdaq in the next at 100 all of those big tech stocks are to a 13,000 level, the strategists are addicting that the -- predicting that a year from now you're looking a nasdaq 100 that will still be at 17,000. there has been a disconnect in market, how we think about fundamentals? how we think about consumer sentiment? at least for now consumer sentiment has been weakening. i want to look at some individual stocks here for you. apple was not that bad when we think about the quarterly results. for the month they are still down about 12%. amazon, as you mentioned there looking at when the biggest monthly declines have not seen since 2006, do not get me started on the daily number as well. alphabet as well, google, they

started getting some nervousness as you are still off by about 20%. if you think about a correction in big bear market territory forcibly individual names as well. emily, i know you'll be taking a look at twitter and tesla on this program as well. here for the week since we got the closing, the announcement of that take private your of twitter, those shares, we will call that up on the week it is not very exciting, not a lot of drama. up about 13 and have percent for the week alone. emily: all right, taylor riggs, and a lot of red there. meanwhile for tech investors were start of the year in two decades, taking a look at the big picture the nasdaq 100 hammer this year wiping out $1.8 trillion in value since april long. -- alone. how much more volatility with the tech sector see? how much more we going to see? >> we still have the fed

decision coming up this next week, once you admit is not have fallen taylor started pieces out, whether the consumer really weakens. everything has been thrown against tech stock so far separate global recession. decades high reflation rates, surging interest rates, we have a war break out in europe that has dampened some demand so far. has not crushed yet, just dampened it. you have supply chain issues of china. it is hit apple, amazon, google, facebook, microsoft, all of the major tech stocks. i do not ticket debates quickly, it does abate unless you get another -- abates quickly unless you get another shoot of drop. emily: you mentioned so many big tech companies, we look at the broader landscape what are the most alarming pain points that you see? >> i want to put this in

context. this is the third bear market we have gone through in the last five years. we had one in 18, one during the beginning of covid and one now. i have lived through seven or eight of these so they are almost all fundamentally driven and there are a confluence of events coming up. all the stocks he mentioned the one that most fundamentally surprised me was netflix. that just hit a wall, because they did not have a plan b or plan c ready to go. they sort of hit market maturation and lots of competition. i do not think that is the case with facebook, google, amazon. these are dips that you as a growth investor, music growth investor i want to be by. these are high-quality opportunities. i know everything is being thrown against amazon right now, this is about as big as a macro play you can find. wage inflation is going up, shipping inflation is going up

fuel inflation is going up if all that happens amazon is negatively impacted. i do not think it is a structural change in amazon's business model. you want to be buying them, this is about as bad as it gets, get less worse going forward. i think they will, barring a global recession. emily: will netflix build appeal itself off the wall and get some momentum back? >> yes, at some point i am sure they will be able to. if you remember, priceline that turned into booking.com, it was a wonderful stock for a decade like netflix was and then it went expert in growth, stop growing above 20% and did this 10% revenue growth. they traded fine in line with the market and they did not perform. i think the same thing happens with netflix. the challenge with netflix, they went -- they exited premium growth from a very high multiple. you had this wicked correction down. now you have it trading 15, 17

times earnings that is right for an asset like this. i think it hugs the market for the perceivable future. i downgraded the stock earlier this year. my history tells me, you stay on the sidelines on this for at least year. emily: gotta talk about twitter, muska trying to buy, selling more shares to get the money he needs to do this deal. twitter earnings, did not look great. do you think he is really committed to owning and running a money-losing asset? or does he want to turn this into a profitable business? can he get the deal done even as tesla shares continue to decline? >> i think you can get the deal down. he has enough personal wealthy can get the deal done. and it -- it may not be as attractive as he first thought. i do not know if you want to run as a profitable enterprise. this person is an ignore mostly

successful entrepreneurial -- enormously successful under new are the differences he did not build this company from the ground up he is acquiring an asset. when you do a big deal you had figure out cultures, this is a very different business model that he has run before, i know he is extremely, intimately knowledgeable about how twitter works as a user. there is a side of the business year, the people to pay the bill of twitter are advertisers. that is a very different mindset, different set of skills, i do not know what musk wants to do about that. if he does not care about the advertisers they will not care about him and you will have ad dollars decline and that is venture cash flow. i think the -- i don't know if it will bother musk or not, if it is a financial imperative for him, it will be a bigger chance for him if you want to run the business properly will be a challenge for. him. >> twitter shares are trading

below the offer price. >> i think there is always a little bit of a gap in these mna deals. it will not close for a couple of months something may come up regulatory wise. i do not see as that glaring a gap. i am not surprised there is a gap. i expected to narrow whenever the thing is supposed to close, i think it will close pretty quickly within the next month or two. emily: interesting, why quickly? >> i do not know what stopped him, there is no other bidder here, it is only regulatory approval, the board has agreed to this, i think the largest shareholders have signed up. the board has said the deal is done because they heard from the large shareholders that they want this deal completed. there is nothing to stop it except for the regulatory approval process. emily: always good to have you, happy friday mark. coming up, she worked with twitter to help make deplatform safer after she became a target

of trolls herself during game or gate, will get breanna wu's thoughts about musk taking over. see opec -- the ongoing war, this is bloomberg. ♪ >> you already invested in the engineering buildout we are better products that will give us better margins and price points for that as our competitive position improves overall. we will make the investments necessary to get us back in the unquestioned leadership. ♪

emily: elon musk sold an

additional $4.5 billion worth of tesla stock according to new regulatory filings, bring his total sale april $5 billion bring him one step closer by twitter reality. he is already discussing some of the changes you make to twitter on twitter, his most notably pinned tweet on ter about censorship. when it comes to changing twitter moderation policies, my next step -- guest help shape those policies. executive director of rebellion pack and one-time congressional candidate and a woman that knows a thing or two about harassment. i want to remind our viewers that not only did you become a target a vicious trolls on twitter as a result of gamergate your harassers came after you in person and try to physically harm you. in the wake of that you help twitter shape it's moderation

policies. how do you feel about handed over elon musk? brianna: i am obviously very, very concerned. it is something i talked to nbc news this week. the history of twitters moderation policy improving in the wake of gamer gate. i talked to a lot of people at twitter really extensively from 2014 until about 2018 trying to basically fix some of the things that went wrong with twitter. something i really want to stress to everyone watching me on bloomberg, ultimately this was a user expense were trying to solve. this was not political, left versus right screaming match. this was people on twitter having a bad user expense and we need to fix it. i am really worried all the progress we will make -- we made to basically let a lot of people use the service and not get death threats, rape threats, the

personal information published, i am actually concerned with take a step backward. because this is bloomberg, i think this will ultimately really affect twitter stock price and probability. emily: if you could give elon musk some advice, what would be? brianna: the main thing i would say is listen to the professionals of the trust and safety team, i cannot emphasize enough that these are data-driven professionals. they're not ideologues, they sit there and come through literally large reams of data every day trying to figure out how to make the product better. what the shortcomings are. it is almost like cyber warfare in the sense where you have trolls poking at the defenses of twitter's trust and safety policy all day and try to figure how to get around it. i would say listen to those professionals, what concerns me is that judging from this tweet, seems like he is coming in with

basically a political, a political crusade that he is trying to bring to the platform rather than try to empower his professionals are trying to solve this from a non-political point of view. emily: elon musk is, and arguably, an innovator and has brought some of the most difficult ideas in history to fruition. why should we think he could make twitter better? brianna: if we were talking about making a tech product i think i would have a lot more faith in him. attic is also worth saying elon musk is also someone who makes really big promises that do not seem to go anywhere. if you listen to him we will have autonomous robots come of these fully at thomas robots that can act with -- autonomous robots and act with artificial intelligence and walk on two legs and that is out next year according to public statements. tesla will have only self

drivable cars every single year for the last six years. there is a credibility gap when it comes to his very large announcements on this. something else i want to stress. ultimately, most of the policies that changed at twitter happened because the twitter leadership was invested in it. 2014 to about 2018 there were very incentivized, not just from users, but from the stock price to address harassment. if you remember they tried to sell themselves to abc and disney at some point, the deal fell through in part because of the general harassment on the platform. ultimately this is not a user safety issue, it is a stock-price issue. emily: jack dorsey just post a long twitter thread taking response ability for mistakes, talking about the handling of the new york post article,

mentioning hunter biden, there are many issues that elon musk seems to be taking issue with. transparency from both policy and operations is the right way to learn -- earn trust whether it is a company or an open protocol does not matter. deliver league assigned to be open about every decision and how it was made -- deliberately trying to be open about every decision and how it was made. what is he mean by that, and is it possible? brianna: i do not know how possible it is, but i do think it is a good ideal to strive for. a lot of misconceptions about the trust and safety policy have been because there is this veil between what happens on the team and the public. i found a very notable with my work with them i was encouraged not to speak about it ever. i only spoke about it this week because i felt the stakes were so high and it was worth kind of talking about my expenses on the

team because of this misconception that it was a bunch of democratic people behind the scenes trying to silence conservatives. absolutely not my expenses all. i think we have these policies applied more transparently ethic would be good for getting the trust of all users. what i find it so interesting, emily, is from my perception, if you look at twitter and their ability to address things we all agree should not be on the platform. things like death threats and rape threats, they do a much better job than their competitors, better than facebook and read it, they have never gotten the public credit that they deserve for that. if they were more open with that be deftly more helpful. emily: i would deftly say is my own experience as a user twitter moderation has gotten better. the tweets that i personally see, i think that the person --

folks that are excited about yuan's vision seem to think twitter has made a lot of political decisions over the last several years. even jack himself said, he generally is not a fan of banning someone and twitter is a platform that banned president trump wrote -- permanently. do you think twitter is political or politicized? brianna: when i come on your show i try not to make things partisan, since you asked i will tell you my honest impression. endemically i thought these policies were all right versus normal people, it was trolls versus professionals trying to get there jobs done. unfortunately since 2016 we have seen these issues become partisan as some people are kind of becoming their worst selves online.

i think unfortunately this has become another left versus right screaming match. i cannot think of any problem that has gotten better when it has become a part of this screaming match rather than a problem to solve. emily: rebellion executive, thank you. coming up, apple is down today after warning that the company could lose billions due to supply issues. we will have more than a -- that. this is bloomberg. ♪ ♪

emily: apple warning it could lose aliens this quarter due to supply shortages -- billions of this quarter due to supply shortages and the lockdown policy. i am joined by mark who covers all things apple for us.

how exactly bad does these -- do the supply chain issues get is -- and it is at all because of covid in china? >> pretty bad, they are guiding between 4 billion and a billion come if you listen to the call it seem like they were not sure how big of an impact would be. that is why they give that 4-8 billion dollar range. this up to 8 billion dollar markers biggest one. analyst do think apple could beat in terms of year-over-year, we will have to see how apple shakes out. i think it is a combination of the supply chain in china that has a long way to go in terms of the overall strategy, final assembly is a bottleneck in recent years. i am sure will get more into that. i also think it has to do with global economic conditions, war in ukraine, inflation, people

holding onto their money and in some sense. people are anticipating big iphone, apple watch, ipad changes later in the year. q2 is one of apple soft orders. emily: how do you think investors will handle this given that apple earnings are generally pretty good. when you look at how distantly -- dismally bad results have been from other tech companies like amazon. >> i think investors will wait to make their long-term decisions at apple until the q3 results. tim cook were vague enough to indicate that maybe will not be a billion -- 8 billion it will be less than 4 billion. if apple is not entirely sure i'm not sure if investors analyst can be entirely sure. we'll have to wait for late july before things shake out. there are reasons to be optimistic about apple. yet again the hit on the supply

chain hence that apple needs to make tweaks to the overall strategy there and tim cook, the architect of the apple supply chain over the last 20 years and change he was defensive about the supply chain strategy and we will kyiv app -- we will see if apple makes a change they need to make. emily: what is the product you are most excited about? >> the apple watch, i think there will be three new models this year including a new rugged model, maybe satellite connectivity issues -- features. the ar headset at some point and the new ipad pro. emily: we will be on the lookout for all of those things and now we are about 90 seconds from the launch of the space x falcon nine rocket carrying starling satellites. we are looking at a live look at cape canaveral. in florida, taking out as

planned, at this point at 5:27 p.m., eastern time, i went to bring in bloomberg's justin bachman who covers the space industry for us. this will be a history making mission, and that this'll be the fastest turnaround time for a refurbished rocket ever. >> that is true, they have shaved the previous record of 27 days 21 days, is a record when you put like that. it is incremental. what is curious, we did not know what their target was. it is interesting to see, this becomes more of a two week or even a one week turnaround for wednesday land these rockets and are ready to fly the make -- four win they land these rockets and are ready to fly them again. how quickly can you get the refurbishment? emily: all right, justin, here

we go, five seconds ago. >> 3, 2, 1, ignition. left off. [applause] pressure is nominal. >> falcon 9 has successfully lifted off carrying our 53 starling seven lights. although at lift gravity is pulling the vehicle straight down -- emily: the rocket is on its way, 27 days after its last trip, this is the sixth flight ever for this particular rockets now

carrying 53 satellites, starling satellite, into orbit. justin bachman who covers a space industry for us, now justin, how significant is this milestone? >> i think is fairly significant. you are seeing spacex learning they fly a lot, they will learn a lot. one of the questions the company has to be, what is the minimal amount that is required to have a safe light only for the payload, buffer customer payloads? the faster you can do that -- but also customer payloads, the faster you can do that this is a business more than a novelty. when you make it a business you are always looking to lower cost and this is an important part of this. how quickly can you flight, today they are taking a payload that will contribute to their constellation, that is more money. it is a business that works and i think we are emily: we are about 30 seconds

away from the first stage main engine getting cut off here. i would like to talk about how this fits into the bigger mission of elon musk and spacex. the goal is to have these taking off as frequently as airplanes take off on earth. can you paint a picture for us of what this future space economy will look like? justin: you're talking about and era not many years to the future if you believe a lot the ambitious proposals. where you have rockets that take off as frequently as airplanes because there is a burgeoning commercial industrial base where people are not only living and space tourism is a small part of it, companies are actively manufacturing and doing other things with microgravity. and using a hard vacuum of space

as a useful tool in a lot of research. so you have this economy where you have things going to and from space, mostly high-end, high-value products and services where they are using the environment for specific reasons. pharmaceuticals and tissue, organ growth, is one area we have heard a lot about. so that is what frequent launches are. the falcon 9 itself will be retired not too many years into the future, where if the starship machine works as intended, that will take over and that is a larger rockets, much more usable than this one. you are going to see other companies enter that space as well, and it is going to be a market where you have frequent launches and we probably won't talk about each one as a novelty. it becomes so routine.

i think that is the goal. nobody is there yet and it is not exactly at hand, but i think you are seeing spacex filled the blocks without becomes the destination. emily: stay with us, i want to bringing lisa rich, cofounder and coo of a company that provides space as a service by hosting payloads and earth's orbit and beyond. this rocket flew 21 days ago. that timeline is getting tighter and tighter. what exactly does this signify in terms of what spacex and a team there has accomplished? lisa: thank you, emily. what we are seeing is, what justin is referring to is, this is becoming the business of space. that we are able to launch frequently and this becomes an enabler for commercial space companies to be flying payloads. we are not only flying other peoples payloads at our company,

but we are flying our own sensors that allow us to provide data and bring that data back from space. it enables companies like the oil and gas industry, insurance, logistics industries that can help us with supply chain issues or issues with disaster responsiveness. we watch the launches and it is excited, that's exciting, but we love to tell the story of a high capability and what is flying and what is back here on earth. emily: 53 satellites going into orbit today, thank you for explaining how important these satellites are. you look at the sky on any given night and i wonder, are we getting concerned it is getting crowded up there? once the space economy becomes more rich, are there concerns about crashes and traffic going

forward? lisa: i'm glad you bring that up because space traffic management is an important part of the process. we are going to be getting better at this by improving our regulatory process. improving the regulatory process actually makes us more competitive and we have folks working very hard to make this have more ease-of-use. right now when a company flies a spacecraft or satellite, you hear if there is a conjunction event or possible collision event. you are notified of that. but the company itself is not necessarily able to track if they are going to be notified. in the future we will have that process opening up more for awareness that allows us to avoid these potential collisions. is it a danger now or five years from now?

i am not so sure it will be. because our systems are improving and the technology and awareness of where satellites are is improving all of the time. space is a big place, there is a lot of space in space. so i don't find that a concern and i don't think a lot of satellite operators do necessarily today. emily: we just saw the entry burn process there that has a down and is complete, the first stage landing burn will start at about eight minutes. we are at 30 seconds away from that. so far, everything seems to be going as planned. walk us through the rest of this mission given the point we are at now. justin: it does seem to be going to plan. what you will see coming next is the landing, this needs to slow down. it is still a supersonic vehicle at this point and needs to shed a lot of speed. to do that it is going to fire a

rocket engine again. vertically coming down. and then you have the landing where we have seen it. that is a crucial part of it and we are seeing that start. emily: first stage landing burn happening now. at this point, what are the things that could -- there it is, coming back down. at what point do we consider this a success? justin: i think it is a success when they get the satellites deployed and going where they want to, and this boozer is going to fly another day, maybe soon. emily: the goal i would guess is sooner than 21 days, because that is how long is booster took to turn around. lisa, how quickly do you think turnaround can get if spacex does its job right?

lisa: i think they probably can keep shaving time off because that is what they do. they are looking for all of these incremental ways to keep lowering the turnaround time and increasing the usage and reusability. for this, it is phenomenal. they have the same mindset of it like company xplore, low-cost and high capability and they are proving this every day by showing us they can turnaround in 21 days. i have visited these, they are extraordinary to see up front, the manufacturing capability and refurbishment now. they are working like clockwork and i love to see that. it opens up the doors for commercial. emily: so satellites will be deployed about an hour into the flight. justin, what is next for the spacex team now that this booster is back on earth?

justin: they will be looking for another launch in short order, maybe next week if i recall collectively -- correctly. more to build up the consolation and add new customers, they added their first two airline customers in the past week with an airline and hawaiian airlines. they are moving into aviation, they want to get into cargo ships and maritime applications. you are seeing star link become more of a nonresidential, but also a commercial business product as well. emily: we will be watching for those satellites to successfully deploy, but so far it looks like a rave success for this latest spacex mission, justin bachman of bloomberg and lisa rich from xplore, thank you both. intel's business outlook after a

disappointing second-quarter forecast and how the company intends to get on top, my interview with ceo gelsinger nex t. this is bloomberg. >> overall this is going to be a competitive market, and the build of our manufacturing capacity, i have said we did not lose market share, we gave it away. ♪

emily: there has been growing concern that pandemic fueled demands for pcs is sputtering, intel coming out with a disappointing second-quarter. i spoke with ceo pat gasoline -- pat gelsinger and asked why he is optimistic about the second half of the year.

take a listen. pat: we see growth in our data center business, network and edge business, very strong in our first quarter and we see that growing. we also have new growth businesses and accelerated computing and graphics, the new area of foundry and mobileye all had very good quarters, we forecast strong growth for those as we go into the second half. and the pc business after the inventory correction business in q2, we expect a stronger second half. we have a lot of visibility about where our inventory is and the strength of our product line is ramping ahead of schedule. raptor lake products are being broadly sampled, and the second half of the year will be highlighted by a commercial refresh. we are way overdue for a refresh, with people coming back into the workplace we are seeing a strong outlook for the

commercial portion where our market share and pricing is stronger. we are confident, reaffirmed the second half of the year and the overall numbers. we are feeling good about the business and execution in q1 with a modest beat despite turbulence. it reinforces our confidence that we are rebuilding and with confidence. emily: i spoke with apple ceo tim cook yesterday who said they are seeing supply issues, most exclusively related to chips. that impacted products. they also said supply issues could dent sales is $8 billion in part due to covid lockdowns in china. you said the shortage will last longer than even you thought. how much longer and with more color can you give us? pat: i think there are two questions, some of the near-term lockdowns, we are starting to see the port open up, we are getting positive news from china in that regard. which is challenging for all of the pcoms and apple come on a

lot of business going through there and a fair amount of our business as well. overall, the big story is about building up the semiconductor capacity. we felt like 23 we would start to see that equilibrium, in no small part because of the equipment shortages, the equipment that goes into those that we are building. nursing leadtimes push out substantially and we expected the overall semiconductor shortage to not be resolved until 2024 as those capacities mine. --come online. emily: i know you are bullish on the pc market and you're confident they will remain strong as we come out of the pandemic, facing inflation and ongoing war, rising gas prices and more pressure on consumers. pat: there are a variety of things there and the range of the market outlooks was wide and now it is nero. all of the analysts, oems, this

was reaffirmed on the mic of soft -- microsoft earnings call. the essential role that it plays in work, learn and play, we see the pc market as a larger market. we already emphasized we are overdue on a commercial refresh, windows 11, p new products like alder lake and raptor lake from intel. and about one million pcs today, everybody is in a tight range. we have better visibility. we know our product builds, many components like wi-fi, bluetooth are made by intel. now our position in graphics is strong as well so all of this together, we have great insight into what that looks like. great alignment with our customers, oems as well as the system partners and we feel good and is about flat market your own here. -- year on year.

we are confident we will be able to execute the share in that market as we did last year or so we feel good about our outlook. emily: intel ceo pat gelsinger. and the light at the end of the tunnel for employees. salesforce will let its employees break and da's to report workplace violations going forward in the future. talking about harassment and discrimination, big potential step forward. coming, former twitter coo and cfo ali will be joining us, looking forward to his opinion on the elon musk twitter deal next. ♪

emily: monday, twitter accepted

elon musk's offer to buy the company and it has been a long week since as users, business leaders and politicians have debated pros and cons. my next guest has a special understanding, ali rowghani is that leader of the continuity fund and joins us as the former coo and cfo at twitter. i'm curious what your read on this is. ali: it is quite the spectacle, the world's richest man swooping in out of nowhere and taking twitter private, $44 billion. the speed of the transaction, the ambition and of the scale, it can't a lot of people off guard -- caught a lot of people off guard. it will be an interesting question where he takes his platform from here. a lot of folks with experience at twitter find his public pronouncements about i want to make the platform stand for more

spree -- free-speech find it naive in terms of what he said. and does it reflect the complexity of the issue. i would argue it is not the main issue facing twitter. moderation is not. emily: what is? ali: i think the main issue facing twitter in light of facebook, instagram, snapchat, tiktok, how does the platform continue to grow and be relevant? it punches above its weight, above its size because of the pronet users it has ended his public and a media property i think partially. but it has not really grown robustly for several years. in the maturing social media landscape, that is the biggest problem. i think the risk twitter faces,

it has become so much smaller than some of the other platforms ended loses relevance. the worst problem is the primary one to solve. emily: a longtime tech investors since a big seller. i want you to listen to what he had to say. >> twitter has never successfully monetize itself. the company i believe still has a huge net loss cumulatively since it was started. given its influence with politicians, celebrities and journalists, twitter should have been able to find a path to much greater profitability that it has. it is so influential. emily: ali, why don't you think that has happened? i know in those earlier days you tried to make that happen. ali: look, twitter as an advertising business is quite some scale. it lacks certain characteristics facebook has that make it -- that lend itself to being a

better monetization platform. facebook's insistence on on gathering a huge amount of data, all the tracking they do if the site and insistence on real identity. none of which twitter does. it is an advertising platform relative to the king could book -- think facebook does it has never had as much power. and for fact that the platform is not growing robustly relative to the growth of snapchat, twitter is a less exciting place for advertisers to be at a place that cannot drive to growth in advertising and revenue that some of these platform have driven. it is a fairly significant, in billions of dollars of advertising revenue scale business. so it is not a small company. if the priority were to drive twitter to profitability like roger indicates it should be, i'm sure there is a way to do that by shrinking the size of

the company. i did think the various people who run the company have always been motivated by a bigger ambition and have invested in growing the size of the company and for right or wrong. emily: what do you think the chances are that elon musk can unlock the potential? ali: it is fascinating how much even cares about near-term profitability. he is accountable to no one, he has taken the company private, he has unlimited personal resources. and he certainly has not talked about twitter as a business. he has talked about it as a social platform, forms of freedom of speech. emily: he talked about subscriptions potentially as an avenue. ali: yep. i'm interested to see what he does, too. my read of it is that the business of twitter is probably not his number one priority in the near-term. i could be wrong, but judging

from comments he has made, he seems to be more interested in a more transparent and more free platform, making certain things open-source and all of these ideas that he has mentioned. it is a very unique situation, as with the world's richest man buying this platform, he can kind of do whatever he wants. at least for a period of time. i don't think he is beholden the way a financial investor or private equity investor would be to near-term metrics or profitability. it is fascinating to see what he does. emily: a minute left, any advice for elon musk? ali: the advice i give is probably advice he would have a hard time taking. i don't think some of the tweets he has made about criticizing employees of the company -- i think he has a different responsibility now as the owner of twitter. in terms of how he behaves on

the platform itself. it is clearly fun for him or he gets some value out of the off-color things he does and says, like bill gates and whatever. i don't think that helps and now as the owner of twitter. i don't think it helps him with employees or prospective employees and i don't think it helps the platform itself. i would say let's stick to business and try to take this platform to where it really should be in terms of its importance in the world. emily: all right. ali rowghani, former twitter ceo you -- cfo and coo. that does it for this edition of "bloomberg technology". wall street week coming next, we will talk about larry summers, he has thoughts on the deal. and don't forget to check out our podcast. find it daily anywhere you get your podcasts. happy friday, have a wonderful

weekend, i am emily chang in san francisco and this is bloomberg. ♪

>> investors prepare for the biggest series of fed hikes a double 30 years, the yen is pushed to its weakest level, a billionaire elon musk pursuing the biggest leverage light -- leveraged buyout. regulatory -- this week special contributor larry summers. >> my guess is that the fed will need to can -- go forward that further -- the fed will need to go further. >>