>> from the heart of where innovation, money and power collide. in silicon valley and beyond, this is bloomberg technology with emily chang.

emily: i'm emily chang in san francisco and this is bloomberg technology. twitter starts to ban people who impersonate others. musk saying to vote republican, and some of the employees laid off last week, some are being asked to come back to the office. china's covert policies are undermining apple's plans. our bloomberg scoop on the plan to cut iphone production by millions of units. and, fcc commissioner brendan carr thinks the u.s. government should ban tiktok. why and how far will he go to make it happen? he will join us to explain. we will get to all of that in a moment. i want to look at the markets. tech stocks rallying for a second day taking time to find their day ahead of key u.s. midterm selections. bloomberg's ed ludlow is here with the big moves. ed: you look at the performance

after hours, down more than 12%. it's interesting,lyft beat estimates but ridership growth. the company added 20.3 million active people in the third quarter. the estimate was 21.1 million. how different a story -- story is that for lift -- lyft considering uber grew by 22% and had outperformance. lyft giving us a worrying picture down 13% and after hours. it was a slow moving day to be honest and financial markets. the nasdaq 100 up for a second straight day, only the second two-day gain for 10 sessions. but there was outperformance as semiconductors, at a time where yields continue to push high. look at u.s. ten-year treasury at 4.2%. and also bitcoin, i posed this question on twitter. if you have a good answer to this, at me. bitcoin trading in this narrow range for much of the last two weeks between 20000 and 21,000 u.s. dollars per token.

why, we've seen so much in the news flow much in the fed earnings season, a lot of nervousness across financial markets but bitcoin is holding in this range and pretty steady. there was a slew of technology news to digest on monday, without any sort of hard newspapers, tesla, which was the clear laggard across technology shares reticular lee on the nasdaq 100, down 5%, closing at its lowest level, we will dig into that later in the program, apple closing up 4/10 of 1%. it had been lower and on track for six consecutive day of declines. that's following a bloomberg scoop that apple is paring back its iphone shipment target by 3 million units this year according to sources. much of that to do with a weakness in demand for the lower end hand. but the company coming out with a statement saying that covid lockdowns in the region where fox financially assembles much of the probe doors is going to impact the supply side of this equation. then you look at meta-platforms up 6.5% having the best jump

since july after a media report we are on track for layoffs to come out of meta-this week. you've got more on that story. emily: we do. thank you. in addition to that, twitter asking some laid off employees to come back and beginning to permanently ban users who impersonate real people. as was said, meta-reportedly cutting thousands of jobs as soon as this week. will burks kurt wagner joins us to talk about this more. you been very -- very busy covering both meta-and twitter your the start with meta-and get that out of the way. is meta-planning to lay off thousands of people this week? what do we know? >> the company is not confirming anything, but what mark zuckerberg said is they are planning for cuts. and this is something he has also told employees at an all hands meeting a few months ago that the company will look a lot smaller at the end of 2023 then it is right now and 2022. so all of those things seem to

suggest that something like this is coming. obviously, i think they could learn a thing or two from what happened at twitter over the past week in terms of how not to handle a situation like this with employees and all the information that is shared. i imagine meta-will probably be a little bit more structured and whatever they ultimately end up doing, but it does feel like something like this is probably coming very soon. emily: let's talk about what is actually happening at twitter. you reported that more than 3700 people would be laid off, has that happened? have all of those people been told, and is elon musk really trying to get some of those people back question mark if so, how many? -- back? if so, how many question mark kurt: employee started losing access to their internal systems. on friday we saw the bulk of the layoffs happen.

i believe the internal employee, they track the number of employees internally, and it's around 37 hundred, 3800 employees right now, which was down from about 7500 at the beginning of the year. so thousands of people have been cut in just the last couple of days. and as you mentioned, yes, when you do something so drastic, so quickly, there were mistakes made, employees were laid off and done so accidentally. the company then realize, we actually need them, we need expertise in the building so we are told that dozens of employees were approached over the weekend and even heading into today about returning. i don't know of anyone who has accepted the offer. i think it will be a tough sell to convince someone who was just fired to essentially go back to the company that just fired them, even if it was a mistake. emily: meantime musk has said there will be an independent board focused on content moderation, but it looks like

some users are already being banned for impersonating real people, parity accounts have been popular on twitter for many years. talk to us about what's happening here. kurt: not just impersonating real people, but impersonating elon musk. that seems to be the line that a lot of people are crossing, but what's interesting here is elon, when he was talking about buying this company he said he didn't believe in lifetime. that was sort of part of his thing. he was like, when i get and i will remove these things. he has taken a softer stance since then and said he's going to review these with an outside counsel. we don't know was on the council or if they have actually had any conversations yet, but it is interesting that he is crossing this line here and saying, you are impersonating something, we will boot you. i have to imagine this is coming from the pushback he is getting on this blue check verification process we have been talking about, which is where if you pay eight dollars a month you can have that blue check mark next

to that name. historically that's been to verify that you are the actual person you claim to be on the account, but now it seems like you can buy that check for eight dollars without any actual verification of your identity. so that's probably why he's trying to get ahead of people impersonating both himself and presumably other famous or well-known users. emily: last quick question because i have to ask, he is now encouraging voters to vote republican and went to great lengths to say he is a register independent and has voted entirely democrat until now. why is he going this far? kurt: he claims in his tweet the white house is run by democrat president so to counterbalance that power we should have republicans who are running or controlling congress. but this is something that has been sort of a change for him over the last couple of months.

he told employees at an all hands in june that he voted republican for the first time. it feels like he is sort of swinging that way, issues very interesting in a way that he would say it so bluntly like this. could you imagine if mark zuckerberg came out and took a strong political stance like this. i feel like people would be up in arms losing their mind over that. but the fact that it's elon musk and the fact that he is saying vote republican, and those are typically conservatives who have the biggest issue with these social networks in the speech on them, i feel like maybe people are ok with that given the stance that he is taking here. emily: it's wild when you put it that way. bloomberg's kurt wagner, we will continue to follow your reporting. i do want to dig into another bloomberg scoop from this weekend. apple expecting to make 3 million fewer iphone 4 teens than planned for the year. mark gurman broke that story, joins me now, why is apple making these production cuts?

mark: two things going on, you have the iphone 14 and iphone 4 team plus, the lower end phones, and the iphone 14 pro and iphone 14 promax, which are the higher end. in terms of 3 million worth or production cut for 90 million to 87 million, that's because of softer demand that has plagued those two lower iphone 4 teens from the beginning of their release. the iphone 14 pro and promax is a supply issue. as you mentioned at the top of the show, apple put out a warning discussing how their outlook for iphone units sold will be lower than anticipated because of the output at their foxconn facility for those two particular models in china, going mostly off-line during covert protocols. so clearly there is both a supply and demand issue depending on which models of the iphone 14 you are looking at. emily: how will this impact the company's outlook? you've reported about spending,

tim cook said he would be more deliberate about spending and you have been getting granular in your reporting about what roles they plan to cut, what roles they plan to keep, how does this fit into apples pickle picture? mark: it seems pretty clear that revenue for the holiday quarter, which they will announce at the end of january, and runs through 2021-2022, it will come in lower than expected, when apple held their earnings, they did not know this was the case, the covid-19 related lockdowns was just emerging the days after that, that's why they put the statement out over the weekend to indicate there is change from what they spoke about previously. the good news for apple from a financial regulation standpoint, they got no portal -- formal guidance. they did not say would come in between xml and xml. they said growth would come in slower than the 8% was on the fourth quarter. and then luca, the apple ceo said does that mean you will see an annual decline from a holiday quarter?

he said it would be less than 8%. that could be the 7% or -2%. we won't know until they announce the results but it seems like numbers come in lower than the 120 billion revenue that wall street had been looking for for the holiday quarter. the most important product, iphone 4 -- iphone 14 pro line will come in lower than expected because of shipments and delays for deliveries for consumers. emily: we continue to follow your reporting on this area thank you so much for all of those updates. bloomberg's mark gurman, lots to digest. meantime, the ceo of the tech identity giant joins us to talk about how the looming recession is impacting sales and his thoughts on elon musk's take on purification, next. this is bloomberg. ♪ ♪ we all have a purpose in life - a “why.”

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emily: how to secure and protect online identity has only become more important as more businesses go all in on a digital worldpay or the cloud identity software provider is holding an investor day to talk about the future of digital identities along with its biggest customer event of the year. running me now is the ceo and cofounder. great to have you back as always. everyone is talking about the outlook. it seems like every company is laying off folks. we are expecting thousands of layoffs at meta alone. what are you seeing in the sales environment in terms of the appetite to buy your software? >> we are excited about the appetite for folks to come to this conference. the first time we've had this in three years on the whole thing is sold out.

we are oversubscribed from the customer invent -- event, and people are invested in this topic and people like to be together in person, which is a powerful platform for us to tell the story. as you mention, everyone, this is a different world we were in one year ago. everyone is worried about the economic uncertainty and scrutinizing investment to spend their dollars on the things that will move their business forward. as they make decisions, identity is coming up as a strategic initiative they should invest in. emily: what is your outlook given the macroenvironment, and how are you thinking about jobs and spending? are you planning any layoffs, are you planning to cut back anywhere? todd: we are not planning layoffs, but we are scrutinizing where we are investing and we think our team is a great investment. they are the best in the industry and they will be successful. everyone is trying to do more

with less, make sure every dollar we spend is in the highest roi area and what you see from our customers is that they are getting a huge return on their investments and identity, is not just for security, is not just for i.t. productivity, it's for customers. they could build better customer elation ships and drive new revenue channels and that's what you want to do in a time of economic uncertainty. you want to cut costs and have good expectations. you want to drive growth because that's when you can get ahead of them -- get ahead of competitors. you can invest in the right areas and move forward. emily: digital authentication services are huge prize for hackers, we've talked about the hack that you had to deal with earlier this year, also dealing with one as well, how would you say the threat level has changed, and what are you doing to stay on top of it. todd: one thing that doesn't change is whether there is economic uncertainty in how people are thinking about

investments. the risk from security breaches in the regulatory overview with a security breach in the cost that puts on companies is consistent. that's always there so companies have to invest in their cyber posture and make sure they have a great foundation to keep everything secure. they have to make sure they get the best innovation for the money but cybersecurity is something that is recession resistant. emily: i'm curious what you think of elon musk's approach to verification, this idea of knowing your customer proving identity when others are saying this is just a way to pay to play? todd: i think twitter is a great technology company that has changed the world. even a company like twitter has to do a better job connecting with their customers, whether it's figuring out who gets the blue checkmark, whether it's figuring out what's a bought and what's not a bot. these things in the takeover as

twitter as elon comes in around the company, these things have come up over and over again, if twitter has these challenges and opportunities, they could reap the benefits of getting customers better, thank about every other organization in the world. if they could know their customers and build great products and service for them that validate the right users, get them into the right capabilities, that will be a groundswell for every organization in the world and that's what everyone is trying to do. that's why it comes back to identity because you have to know who the customer is and have high customer -- confidence to deliver a personalized experience that changes their day, makes them perceive a ton of value from your product and service and moves your company forward. emily: he's also telling users to vote republican and i know federal government sales are important, how do things change for you if congress -- republicans when congress? vonnie: -- todd: one thing i

want to say as i voted today, you could see my eye voted sticker. we had this big conference oh i had to do it early, absentee. all i will say on this is everyone needs to vote. democracy works when everyone is heard. so everyone should vote. it's an important part of what we do, an important part of our country and it's an important part of the world, so get out there and vote. emily: all right, i can only support that. you have a huge customer event coming up, and investor day. you have been talking about this password this future -- feature for a long time. what he telling them about how far away that is, when will be -- when will we be done with passwords? todd: we are on the cusp, especially at work of being able to get rid of passwords. you have the technology today to remove the password from every employee in the world because two things, one is that we can utilize the strong offender case

and from their iphone and android phone and mac and pc and integrate that. this is an important point, it has to be integrated to every application service you need to go in your entire workday, that's what's challenging, it's not that we didn't have the right biometric sensors, it said it's hard to get them connected to everything in your environment and that's a problem we solved. this is an exciting development and i think we can make employees more productive and more importantly, if it's a biometric sensor, it's much more secure. that's why we are excited to tell our story to the world this week. emily: good luck at octane this week. todd mckinnon joining us for an excuse of interview. todd, thank you so much for stopping by. coming up, we hear from microsoft president brad smith from prop 27 in egypt. we will talk about microsoft's new climate initiative and how the company is navigating the downturn. that's next. this is bloomberg. ♪

emily: the cop 27 summit is underway in egypt with this year's event to reinject momentum to the energy transition. major companies like microsoft plans to be carbon negative by 2020. i caught up with microsoft president brad smith. brad: i think it's a port in the thick about the problem that we and others are trying to help solve. so much of the work is needed to its our climate changes involving better use of an eye or data better predictive modeling. look at predicting wildfires, whether you are in the united states, india or africa. if you look at things like responding to floods, you need to be able to predict these things and then give people early warning systems.

yet, if you look at africa today, for every 14 data scientist in that country, there's only one in africa. so we've opened up, we are announcing to new data labs, one in egypt, one in kenya, we are partnering with planet labs in san francisco, which is doing this extraordinary work with new satellites to bring satellite-based imagery and data, including for africa. you put our ai capabilities, our data scientist, planets, images together, now we can be a bit of a equalizer. we can help climate scientists on a continent like africa. >> meantime, brad, the economy continues to go south, we see layoffs in the tech industry across the board, we expect thousand the people to get laid off at meta just this week. i know microsoft has done some layoffs but hasn't had a major round of cuts yet, are you planning to do more layoffs and

how are you thinking about spending, etc.? brad: i think the most important thing for a company like microsoft is first to recognize the role that we play, we are not in the advertising business to the degree that other companies are. we are more focused on providing the digital infrastructure that companies, businesses, nonprofits, governments need. in a world with increasing economic headwinds, and there are many, the kind of technology that we create is one of the better tailwinds on which people can rely, and we are seeing that. to answer your question, we will continue to manage through this recession the same way we have managed every recession since microsoft was founded in 1975. we identify the technologies that will not only be important to the quarter in the year, but fundamentally the decade ahead. we make sure we invest and may

even invest more in the technologies of the future. say things like artificial intelligence. we may have to trim some other areas because it is a recession, but what you will do is see us trim if we need to and then use that to free up resources to invest in what we regard as a long-term creation of value. not only for ourselves, before our customers. emily: fcc commissioner brendan car coming up next calling for a ban on tiktok. he's with us, next. this is bloomberg. ♪

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emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. twitter may now be a private company but elon musk's purchase of the platform is still being

felt by the public markets. bloomberg's ed ludlow is here with a look at tesla and obviously, you know, can't ignore this if you are a tesla investor. ed: the stock is down on its 50% on a 12 month basis. a 17 month new 52-week low down 5% during monday's session, worst performer on a points basis on the nasdaq 100 and clearly there's a twitter overhang, i think one of the numbers that jumps out at me is that tesla shares are down more than 12% since october 27 when musk close the deal to buy twitter. in that time the s&p 500 may gauge of u.s. equities is basically flat. there's a lot of discussion in the market about what is going on here in a big part of it, if you come with me to my bloomberg terminal, it seems to be key man risk. there has been no firm twitter for anyone paying attention to the platform in the last 24 hours or last few months, elon musk is tweeting regularly, he's focused based on the reporting

that kurt wagner has done on this platform and its future, and confirmed from tesla shareholders to voice this concern on the platform that he's distracted being away from tesla. there's less of a conversation now about the concern of him selling down more of his own tesla shares in order to finance the deal because of what he did on the debt and on the equity co. investor side. but clearly there's an overhang here and it's just strange to see such poor performance in tesla stock in the short, medium and long terms. emily: this is sort of a perennial question but i wonder if the answer to it is changing. is tesla a tech stock or is it a car stock and how are investors thinking about it? ed: i will take a perennial question from you any day of the week. 50% of the analysts that cover tesla do so from a cap -- a classic automotive perspective. many treat it a higher motive

tech or software because much of its valuation in recent years has been based on the future promise of full self-driving. i look at the fundamentals. this is a stock that trades are 47 times forward earnings. if you compare with general motors, that's a stock that trades below seven times forward earnings. seven times forward earnings is a stretch multiple stock in anyone's book. we talk about nvidia trading up 30 times forward earnings. nowhere near what tesla is at now. does not a definitive answer, i'm sorry to sort of bat you away, but it depends how you look at it. if you look at the fundamentals, tesla does not trade like a legacy automotive name. emily: bloomberg's ed ludlow, thank you as always. or perennial questions to come. how midterm voters will impact crypto regulation. that's next, this is bloomberg. ♪

emily: u.s. midterm elections are coming up in the crypto industry has its eyes on congress. well we finally get promise on crypto regulation? bloomberg's kailey leinz reports. >> our regulators and frankly our congress is an our lay in a dollar short and we need to catch up with where these cryptocurrencies are going. >> congress has been calling for greater regulation of crypto for years. but it's been a lot of talk. and to this talk -- point, not a lot of walk. >> we have the intention but we aren't getting over the line. >> they have been asking to

create the world's of the road. optimism has fetid as midterms come closer. >> there was hope for many that this would happen this year, that a bunch of bills that had been proposed are promising, that we could see movement on capitol hill, but just like everything in washington heading towards the end of 2022, it all seems stuck. >> the bills that have gained the most traction includes legislation for stablecoins and to give more power to oversee digital assets. success on the initiatives will have to wait until after the midterms. >> i think both kiersten and i believe that the bill, in one piece, as a total bill, is more likely to be deferred until next year. it's a big topic. it's comprehensive, and it's still new to many u.s. senators. it's a lot for them to digest with the few remaining weeks we have in this calendar year. >> big names in crypto like the billionaire founder of ftx, are

also trying to make change with their daughters, emerging as influential political donors. while he says he's motivated by plandemic prevention and wants to support candidates who will prioritize that, he also has been pushing the regulatory agenda. >> me as a member of the industry tried to get us regulated and move the industry getting more responsible direction and i think that requires engagement. i need to be responsible not to engage with capitol hill, with regulators. in the things that have been argued for our more regulation for the industry. >> is the force largest individual that has made $40 million in political contributions this year. he has said he could give even more in the 2024 race. >> i think that you will see more people pushing at the politics because now the interaction with d.c. is going to be one of the main drivers of whether enterprises are able to go and operate successfully.

emily: bloomberg's kailey leinz without report. coming up, election day almost year, and working women in the u.s. want to be heard. we will talk about all that and more with the founder of girls who code, and the marshall plan for moms. that's next. this is bloomberg. ♪

emily: republican lawmakers have been working a revive former president trump's bid to ban tiktok over fears that u.s. data is ending up in the hands of the chinese government. just last week the fcc commissioner told axios that tiktok should be outright banned. he joins me now for more on this. commissioner, thank you for taking the time. you said specifically you don't believe there is a path forward for anything other than a band, which is a step up from what you said in the past. why take it that far? >> it seems almost every week there's a new leaked material coming out of tiktok to -- that just really eviscerates the

trust. the national security agencies been working on project texas, which is to move a lot of tiktok's operations to servers in the u.s., and that's the national security concern. the problem is there's a new report 10 days ago that reports a tiktok official out of l.a. having an unusual outside business our meeting where they ask other tiktok employees detailed questions about the location and other details of the servers. we have leaked materials from its easy tiktok official who said once that project is put in place, it remains to be seen if beijing can still get access to u.s. user data because at the end of the day these are there tools that they built in china. so tiktok isn't sure that these new protections will safeguard u.s. future data, then i don't think we should be so sure either. emily: you don't have the authority to ban tiktok, so what are you hoping to accomplish with this?

>> this is unlike huawei or china mobile where we have federal funding issues or licensing issues. but what i gained from all this was insight into dealing with companies that have ties back into communist china, and sort of maligned data flows, so i'm happy to bring that expertise to bear and talk about, the reality is this is broad and bipartisan. you have senator mark warman -- senator mark warren that looks at security briefings every day and he says that it's tiktok that scares the dickens out of him. just in the last week you had the democratic chairwoman in the house write a letter with the republican for apple and google saying we are concerned about your continued inclusion of tiktok in the app store. this isn't just about me, this is a broad, deep bipartisan concern. this is ultimately going to be treasury that has the process. i think that should be the focus of federal access, not the fcc,

it could be the ftc or commerce department as well. emily: what do you hope to come out of that national security agreement with tiktok that we have at the moment? >> i think i've been open theoretically that there is an agreement put in place that addresses national security concerns. there was a new york times piece a couple weeks ago that said there's a tentative deal put in place, a draft deal with tiktok, but had multiple high-level sources in the justice department saying that the number two in the doj concerned that the tentative deal isn't tough enough. so we have to be careful going forward that we are not allowing data flows back into china because it's not just about espionage or foreign influence, but we are also feeding china's ar -- ai. the pla has been a goal of dominating ai. i am very concerned about sending data back in the way it will make the data effective for nefarious purposes.

emily: the question is how far do you take this? should companies like meta, alphabet, apple have employees in china in your view at all? >> i think this is an opportunity where we need to revisit these deep corporate ties, particularly at the rattles on taiwan coming out of the common's party combat of last week. i was just in taiwan for two days last week myself and i think it's time to start think about diversifying outside of china. up until now, my concern has been focused on individual companies and plus factors. not just that you have ties into communist china, but something else is concerning. that's the case with tiktok. i'm not ready to make a broader pronouncement more generally about companies doing business there. emily: we've got a midterm election happening in a matter of hours, and i'm curious what your hope is for a new congress,

along with ftt -- ftc chair to take action or not on big tech over the next couple of years. >> the america people make their decisions particularly by the hatch act not with partisan, later, but generally i do think it's important that we find some alignment, republicans and democrats alike, on addressing outsized abuse of corporate power. i do think we are starting see more and more bipartisan interest in that topic, and i would always look forward to find partners on both sides of the political aisle to drive the result. when it comes to tiktok in particular, my sense is the tide is moving out on tiktok and you see almost every week, new letters from new bipartisan members on congress focused on the issue. emily: what's the latest on the plan to ban all always in zte telecom equipment from the u.s.

market? is the fcc going to be voting on that soon? >> a couple years ago we voted to withdraw all future funding for huawei and zte equipment. they are ripping and replacing. axios reported we were about to vote at the fcc on denying equipment authorization for those devices, which were closed and i said it was a huawei loophole. you can't use federal dollars, but you can use it by the same year for the same point in your network and i've long called to close that loophole. suppose they are right and moving forward the vote and i want to get into the detail of it, but i would be very happy with outcome at the fcc. emily: quickly, at the ftc, what are your thoughts on the actions that lena con has taken so far? >> i think our guiding principle has to protect individual liberty, we can have individual liberty from the overreach government, we can also have it

from the abuse of corporate power. we've got to find a way to have it as our guiding star. i know it's been a partisan time of the ftc and they've had a hard time agreeing. the fcc has been working to the middle, compromising and finding common ground and i hope we continue to do that at the fcc. emily: what's your response to the changes that elon musk is making at twitter thus far? do you like what you are seeing? >> i'm hopeful we end up with protecting a widespread political views. i don't think we need to rely on the benevolence of elon musk or to purchase deplatform, that's wife and my position for years. we need pro speech guard rails. let's protect political speech, let's make sure there's not discrimination against it but push for user empowerment, transparency and accountability. while i'm hopeful that elon musk has moderation tours the

diversity of use, i think we should put regulations in place that are going to collect -- protect political speech in the digital town square. emily: fcc commissioner brendan carr, thank you so much for stopping by. millions of mothers have left their jobs as a result of the covid-19 pandemic. the cause, inadequate childcare. that's why the co-founder decided to come up with a marshall plan for moms, a nonprofit that has helped pass landmark childcare legislation new york and is working with companies on employer-sponsored childcare. she joins me now for more and i have to ask about the midterms, which are now hours away from. which races are you paying the closest attention to and why? >> all of them. this election is the most important election women have seen. following the dobbs decision women have become second-class citizens in america. and we have a lot of extremists on the ballot, a lot of candidates on the right want to

restrict our rights even more. so happens in tuesday is going to fundamentally change the lives of american women. emily: how concerned are you about misinformation given i know that you have pointed out the voices of women, especially have not been heard. >> i'm very concerned about misinformation and i think it's something that's critical that a lot of my students are working on. i think the comment that was is made by the commissioner and seeing what happens with twitter and with elon musk taking over twitter to make sure we continue to root out disinformation and that everybody has access to fair and just and reliable information is critical. emily: that was my next question. i'm curious what your take is on the direction that elon musk has taken twitter thus far and how free speech can be balanced with safety and security. >> we know social media, twitter

has been a toxic place for women and girls and people of color, and there's gotta be a way to moderate content without making people feel every day they will face no -- some amount abuse. show content that will be really toxic for them. i think that this is an opportunity to do something right and to do something that uplifts people of color. women will see if that actually happens. emily: given your work with the marshall plan, i'm curious what you are hearing from moms and parents about their concerns as they had into the election. what matters to them right now and why? >> republicans have made it seem that the biggest concern should be the cost of gas or cost of cereal. but if you talk to a mom she will tell you my biggest concern is the cost of childcare. 40% of parents have gone into debt because of the cost of childcare. the cost of childcare is outpacing the cost of inflation.

it is literally the most expensive line item for families. and the only party that started to do something about it is democrats through the build back better bill. so moms have to be paying attention, moms have to be voting on tuesday, and we have to be making sure we are pushing an agenda that is going to put families first. if we want to say that women in the workforce are not just a nice to have, but a must-have, we have to make sure we are providing affordable childcare. that's what we're doing with the national business coalition for childcare. we can't wait for government to do the right thing. we can push them to but we have to advocate for subsidizing childcare in the workforce. emily: you recently went toe to toe with a parents right group that banned girls who code books and i'm curious if you share context on that and what you think it tells us about the state of america? >> i think it tells us they were coming for our bodies and now

they're are coming for our minds. i woke up to a headline that girls who code books have been banned in pennsylvania. not just girls soup owed -- codebooks but girls given an opportunity and girls of color given an opportunity to be everything and anything. what is happening in schools right now and in terms of the school board fights and cultural wars is critical. we have to start paying attention. i cannot stress this enough. we entered this time a forced birth where reproductive rights are taken away and i am shocked to see what they are trying to take away from our girls. and every single parent who cares about their girls having a chance to be an engineer, doctor, president, needs to be informed about what's happening in the schools because it is shocking, frightening, and it is scary. emily: how much progress is actually happening in the schools? you founded this company to get more girls to learn how to code.

how optimistic are you about that truly happening across the board? >> covid was devastating for kids especially kids from underserved communities. i was also my students on their way to -- at a drop out of college because their moms were essential workers and they had a take care of their siblings. that's why it's so critical we fix the broken structure of care. the second thing is that we have got to continue to invest in public school education. i'm sure you saw the new york times article about how the math and science rates of what our kids are learning have diminished and decreased. we have 10,000 girls who code clubs at the start of the pandemic and we are inching back to where we were before. when teachers are exhausted and tired and lacking paid adequately, they are not volunteering to teach a coding club. and who can blame them. we have to have time to continue

public school education and make sure kids have access to opportunity and jobs of the future, which include coding. emily: thank you for your advocacy for girls, girls who code co-founder, thank you for stopping by. that does it for this edition of "bloomberg technology." coming up on election day in the united states, an all-star lineup including lyft's president talking about prop 30 in the future of the gig economy in so many other important guests. don't forget to check out our podcasts wherever you get your podcasts. this is bloomberg. ♪

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manus: this is "daybreak: middle east."