. >> venmo. i'll send it to them. >> you don't have venmo. >> i owe him $4 and he's on me to send it. >> he wouldn't send it on facebook or on venmo. >> i'll bring it tomorrow. >>> our intel chiefs say russia is already targeting this year's midterms, but president trump doesn't seem to care. yet another unforced error that i don't understand. >>> all right, coming up next, we're breaking down evidence to show you how russia has interfered in american elections and what can be done about it. stay with us. you're watching v ining "velshi" live on msnbc. [boxing bell ding] [applause] sucthey read more.have one thing in common. how do they find the time? ... with audible. audible has the world's largest selection of audiobooks. for just $14.95 a month... you get a credit good for any audiobook ... and you can roll your credits to the next month if you don't use them. audible members get free no hassle exchanges ... and use the mobile app to listen anytime, anywhere. start a 30-day trial and your fir

when might we see something like venmo?been >> because of volatility of this currency, it is not something that merchants readily accept. if you have a 5% operating margin and you accept bitcoin and you see a swing in one day, you are underwater for that transaction, so i think it will be a wild before we see this ability in this currency that merchants will readily accepted. >> what about venmo? >> if our customers want to use it, it is something will look at in the future. how about a paypal app with in-store capability? >> we have that in certain regions today, and we partner with large technology companies that authenticates with us and you can use paypal. in-store is something that has a greater foothold internationally and it is slower in the u.s., but we want to be on the forefront to allow customers to use paypal however they want whenever they want. usbanks a much for joining -- thanks so much for joining us. shery: we have breaking news crossing at the bloomberg and here that president trump has read that classifi

and others like venmo, airbnb, and uber have transformed the way people make payments, find lodging, and hail a cab. >> they don't try to play the game of the incumbent. they play a different game. when you do that, you open up a whole new world for yourself. >> reporter: it's a world that's speeding toward disruption at every corner. >> so i just love this concept of entrepreneurial dynamism, i like this idea that this guy sends flowers to his girlfriend, they don't get there, and his concept is i'm going to invent a better mousetrap. because when stuff like that happens to me, i just complain. >> that's sort of the beautiful part of the age of innovation that we're in, it's a very millenial mindset, whereas we're going, man, carnations again, and they're wilted, this guy got over the barriers to entry and got in. >> blockbuster wasn't doing a great job, nobody else was streaming, back then it was just sending devds to people. netflix figured out, we can do that. >> the opposite is uber, we all knew there were transportation issues, but uber came in, in an outlaw style, going up aga

the payment service venmo reached a deal with the ftc.d deal venmo is required to make specific disclosure about its privacy practices and it will be subject to service comply antsy actions. >>> amazon acquired ring which makes wi-fi-connected video doorbell. the $1 billion deal gives them a foothold in the security business. ring's ceo pitched his smart doorbell idea on the reality show "shark tank" last year. >> it's really not an internet device. it's consumer device. >> i don't think it's for me. >> the show's judges turned it down. >> he said, i'm going to make it a success and he did. >>> dolly parton just donated her 100th million book. the country music legend is the founder of a nonprofit organization that donates books to children from birth to kindergarten. yesterday she said the only book she had growing up was the bible. the 72-year-old joked she never thought she'd be called the book lady. she says that goes to show you, you can't judge a book by its cover. >> right on, dolly. >> reporter: the "detroit free press" says blue

emily: what about on the venn mill -- on venmo?erchants want to accept it and customers want to use it, it is something we will look at in the future. emily: what about a store with paypal in-store capability? john: we actually have that. something that has a greater foothold internationally , a little slower in the u.s., but we want to be on the forefront of that and allow customers to use paypal however and whenever they want. emily: the paypal cfo there. book is outng, my this tuesday. this is the story of how women have been excluded from the largest wealth creation and the history of the world and what we can do to foster real change. i have been working on this for the last few years and i have so excited to share this with the world. we will have special coverage on this throughout the week, imported interviews you don't want to miss right here. that does it for this edition of the "best of bloomberg technology." tune in each day, 5:00 p.m. in new york. remember, all episodes are livestreaming on twitter. check us out. that

it is an interesting business -- apple's personal venmo. on theee green card, but they are the bank powering it. julia: and they are working with uber and into it -- and intuit. >> i think the looped acquisition gave them the mobile development team they need to work with these big companies that have lofty dreams for financial services and their business. is not just a prepaid card. you can use the banking platform to plug into these interesting technology companies. as oneyou described them of the most distributed banks now in the country. the growth we've seen is phenomenal. >> not to knock on the prepaid business. but yeah, the partnerships they've made with uber, for instance, they are the ones who pay all the uber drivers at the end of the week. or help pay them, i guess. they are facilitating all these payments for silicon valley. when i spoke to steve, he said the reason we can do this, we have this incredible platform and team, but we are really able to speak technology to these companies. as more and more of these tech giants want

they said they misrepresented the way venmo sends money. debat we breathe.lus: fighting your cell phone company. what to know before you trade in an old phone. "today in the bay." join us: 4:30 to 7. at at&t, we believe in access. the opportunity for everyone to explore a digital world. connecting with the things that matter most. and because nothing keeps us more connected than the internet, we've created access from at&t. california households with at least one resident who receives snap or ssi benefits may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee. visit att.com/accessnow to learn more. school in parkland, florida return to their classrooms >>> students and teachers of marjory stoneman douglas high school are returning to their classrooms tomorrow, almost two weeks after the shooting.ñr how hard that must be. >> and more questions how the broward county sheriff's department responded to the scene. >> reporter: as students, teachers and staff prepare to return to class tomorrow, a sign of hom

as part of the proposed deal venmo is required to make specific disclosures and it will be subject to the next ten years. last year venmo nearly doubled to $35 million. >>> the "the wall street journal" reports amazon acquired ring which makes wi-fi connected video door bells. the $1 billion deal gives amazon a bigger foot hold in the growing internet home security business. it's amazon's second largest acquisition after whole foods last year. ring ceo pitched his smart door bell idea on the reality show shark tank last year. >> it's really not an internet play, it's a consumer device. >> i don't think it's for me. >> the show's judges turned him down. >> he said but i'm going to make this thing a success and he did. "the washington post" reports that dolly parton just donated her 100th million book. it went to the library of congress. she's the founder of a nonprofit organization that doe natures books to children from birth to kindergarten. yesterday parten said the only book she had growing up was the bielk. 72-year-old dolly parton joked that she had never thought about being the

paypal is looking to compete with banks and startups in the transaction market, but growth of its venmoervice slowed. coming up, we are staying on earnings. continued growth in cloud services helped fuel microsoft results. we will break down the numbers, next. and bloomberg tech is livestreaming on twitter, @technology, 5:00 p.m. in new york. 2:00 p.m. in san francisco. this is bloomberg. ♪ emily: let's continue our coverage of tech earnings. microsoft topping analyst estimates for second quarter revenue. tax charge caused the company to report a loss. cory johnson joined us from new york with more. microsoft getting a boost from azure, but there is this tax issue. what are your takeaways? cory: a little confusing. i think we will see this with a lot of companies as they figure out what the new taxes mean for them and repatriation issues. which is tricky. the companies that are starting to hide stuff will use non-gap numbers to sweep stuff under the rug. the good companies, including microsoft, they have always been exemplary in the way they report earnings, as far as i can remember, in

that is apple's version of venmo. and so it is an interesting business. see green dot anywhere in the app or in the card. but they are the ones powering it. they are the bank behind it, so it is interesting, a lot of people are using them in have no -- and have no idea. julia: they are working with uber now and intuit. so they have fingers in many pies. jenny: yes. the looped acquisition gave them the kind of mobile development team they need to work with big companies that have lofty dreams for how they can use financial services in their business. so green dot says they are a platform, not just a prepaid card. and so you can use this banking platform they have to really plug in to some of these interesting technology companies. and do some pretty cool things. julia: it is one of the most distributed banks in the country. the growth we have seen is pretty phenomenal. jenny: yes, indeed. you know, not to knock the prepaid business, but yes, the partnerships that they have gotten into, like uber for instance, they are the ones who pay all the uber drivers

have you seen thus far from the launch of apple pay cash and what do you expect the impact to be on venmo paypal itself >> sure. i would never be dismissive of competition, certainly from competitor like apple pay. but this is something that we deal with all the time there have been a host of pay announcementes since we came out from separation. in the face of all that competition, we continue to demonstrate that we're growing our volumes upwards of 30% which is 2 times the rate of growth of commerce part of the ability to do that is because we have a global presence in a two sided platform with 18 million merchants on one side and 200 million consumers on the other i think it's more of a sign of the time that money is digitizing and there is a little bit of a notion that there is a rising tide that lifts all ships. we happen to be the biggest ship in that tide >> that competition is getting very, very fierce in the payment space. one side of this announcement from ebay yesterday that maybe hasn't got as much attention as what it meendz for you guys, the end of that operation agreement. y

saying it has 7 million monthly active users as of december paypal hasn't introduced that number for venmo square may be making inroads it generated buzz for cash when it started adding bitcoin capabilities late last year. ceo jack dorsey was asked about that and the future of bitcoin at square on the earnings call here's what he said. >> bitcoin for us is not stopping at buying and selling we believe this is a transformational technology for our industry and we want to learn as quickly as possible. we also believe that it does provide an opportunity to give more people access to the financial system and certainly, that's in terms of assets, but ultimately over time through currency. so we are going to have learning mindset and make sure we are learning and leading here. >> melissa, we can't really see the financial impact of bitcoin on the square platform just yet. but as dorsey says we may just be seeing the beginning of cryptocurrencies on square he says he is thinking about it in terms of the future of the payments industry. back over to you >> deirdre bosa monitoring the square call.

and others like venmo, airbnb and uber have transformed the way people make payments, find lodging and hail a cab. >> they don't try to play the game of the incumbent. they play a different game. and when you do that, you open up a whole new world for yourself. >> reporter: it's a world that's speeding toward disruption at every corner. >> all right. that's the american dream. a person sees a problem with the system, they come up a better way of doing things and they make it work. but is that the reality for most americans? an op-ped in "the new york times" argues that it isn't. titled "where are the startups? loss of dine hynamism is impedi growth." fewer americans are changing jobs and starting new businesses which in turn is hurting prurktiprurk productivity? has the way we do business fundamentally changed, are corporate behemoths cutting out the little guy making it hard to do business, are burdensome regulations stifle lg small businesses and startups? to help figure it out i'm joined by roger mcnamee, co-founder of elevation michael, managing partner of heroic ventures. welcome

they are not even moneadvertising venmo yet. it come in this is going to be viewed as a shock to everybody except those who follow it closely. >> they've been giving you hints but in the past they always reach a new deal. >> you always felt wait a second, it's advantageous to use paypal paypal will be dropping as a percentage for -- >> the sales on ebay. >> do you know anything about the dutch company? >> i don't think they do either frankly. >> it's a start-up. >> most of the sales are overseas. >> well, look, ebay was a great quarter. i don't want to take anything away from it i'm saying the panic in paypal is misdirected and it was going to happen some day dan shulman told me it was going to happen. when it happened, they would be ready. those who panic, i have to go. >> you've got to go. we've got to go. we'll talk a little qualcomm and service now numbers, we've got so much other earnings to get to. >> blackstone -- >> down, shouldn't be on that. fire fighting is a very dangerous profession. we have one to two fires a day a

for the first time they're sharing two cash app metrics their cash app is the p-to-p venmo competitor, virtual card spending was $90 million in december so making it $1 billion on an annualized basis >> deirdre, thank you. square shares a little fractionally lower the last word before we go. >> yes i think square at 90 times earnings and triple over the last year, i think, it needs a rest i like priceline in here it's one of the high pe stocks that amz seems to be a buy and they always seem to underpromise and overdeliver. i think it's great >> and it's turned positive. it's almost like it's listening. thank you. amazon made another big buy. we'll have that next on the "closing bell" and much more still to come. >> announcer: straight ahead, the georgia state senator who's so angry with delta for ending its relationship with the national rifle association, he's striking back against the airline and corporate giant. see how when he joins us live on the "closing bell. plus, what president obama just said that will send shock waves throughout the tech elite from silicon valley to seattle

you have things like paypal, , beingl being -- venmo used by millions of people as opposed to blockchaing used by nobody. francine: what about kodak? coin,o have kind of kodak but they are using blockchain technology to track images. if i am a freelancer and put an image on a post and i can get royalties from that. is that a useful way we should look at it or you think that is also rubbish? noriel: every other day there is -- a corner of the world that attaches the name blockchain and their value goes up through or four times based on nothing. nothing. you are first to show the technology of blockchain works, the transaction costs are low. if you make a transaction to sell one photograph or license, you have to pay $50, it will not be viable. these things are not scalable. it interesting you want to change her name to getel bit roubini to attention. you saw twitter blowup last night. there's a lot of believers out there and this is what francine alludes to. what do you want from secretary mnuchin to get in here before we see these huge write-downs? are gettingcymakers worried. pretty muc