the u.s. i'm very bullish long-term about chinese tech, despite whatever we might say about the u.s.ech dispute. it is interesting what the ,revious speaker talked about in general, china has failed on the social front. china has this gigantic social company on by tencent which is really not penetrated in western markets at all. it's had some good success in markets in the developing world, but in reality, even notice huge, dominant in china, just the way facebook is dominant in the u.s., it has not successfully penetrated other developed markets. haidi: that's not unusual, though is it? you rarely see cross-border success being replicated. we seeing that would take companies in japan that of struggle with that. isn't an issue of government regulation, censorship preventing that ecosystem from being a global one? david: there is real caution about chinese social companies operating outside of china. i think it is unfortunately the case that almost whenever a chinese tech company operates outside of china, at least some leaders of countries in business competitors and users worry abou

twitter's shares jumped 5% to finish the day at $39.80. >> coming up, why big tech is pouring big moneynto the race for san francisco mayor. >>re facebook and google being sued by washington state's attorney general. he says the companies failed t maintain information about political advertising. that information is required by w and it includes data about buyers of political ads. the cost,y how much t paid, and the candidate or ballot measure at washington candidates and political committees have reportedly spent about $5 million to advertise on those platforms in the past decade. >>> some big tech companies are taking sides in the san francisco mayoral race b and th han pouring a lot of money into campaigns. that's because the stakes are high for a critical amerin industry. aditi roy has more. >> reporter: san francisco is about to elect a new mayor in a wide open race and many voters have strong opinions about the issues important to them. >> i understand the tech companies coming in, but the problem is that they have pushed out a lot of the old-time residents. >> two problems. one i

the s&p 100. it's a lot i view netflix as a tech stock more than a media stock. but i think that there are plenty of positives in the market, but i'm not really looking at it thinking that, well, this will help lift all these other stocks it will lift - >> will value funds get enough inflows to support value stocks? meaning the types of stocks that would normally be accumulated by big value managers, mutual funds, the money is not going into those funds it's apparent in the way this market has separated itself,cul. it's aery, very disparate climate. >> i think the answer to your question, the evidence is there. 2872 is the high for the you're about 4.5% below that technology has rallied the russell has rallied, made a new high that has not liftee >> not yet not yet. >> but s&p has -- is still 4.5% its low with 30% of its composition basically rallying to new all-time highs. i think the other thing that's important to understand and jon is hitting on this is at some point 're going to fundamentally understand what the economic contribution from technology is. what

the rest of 2018. emily: how is u.s. tech reacting? brad: they are trying to do everything they can to make an impact on us policy so the new york times recently reported that tim cook last month was in the oval asking for a more nuanced approach. you have got all the u.s. trade associations going in there and lobbying for changes to this policy. i think they are doing what they can. emily: is the u.s. administration going to listen? is trump opened this? brad: we'll see. we have seen a lot of economic in nationalhed security terms, and i do not think they have shown a lot of flexibility. emily: do you get the sense the president is concerned about trade deficit our national security or playing to his base? isaac: i think he started with concern about trade deficit. he complained about the trade deficit in the 1980's. japan, he has been surprisingly consistent on for decades. a lot of people around trump have a real fear that chinese investment brings national security concerns, especially zte. companies like people in the administratio

to the market tech underperformed. and to wednesday the chart from last week, the bottom panel is relative performance to the market, top panel is the tech sector and we literally have lived within this channel and the presumption is at a minimum we're going to the bottom. >> one needs to consider this not over but just the beginning. >> carter comes over. >> he made a great call last week. >> he deserves that seat. >> welcome so carter, i got confused in the charts that you were showing to us in terms of tech and s&p being down and staples and utilities being up. >> what we were looking at from today's piece is that if you have the circumstance where money is so aggressively moving out of tech, which is so dominant as a percentage of the s&p and it's going into -- it wasn't just utilities, it was reits as well. what it's said more importantly is not about staples but that tech has underperformed. now those are acting well. you have relative outperformance in staples and that's just a defensive -- truly defensive becaus

it is one of the new breed of tech firms challenging the big things and credit card issuers who have ng control systems for processing payments in stores and online. and we have just wrapped up london tech week, bringing together some of the biggest names in coding, artificial intelligence and venture capital. bloombergs caroline hyde kicked off the tech week with the london mayor. >> this is europe's biggest festival of innovation and it is amazing. there are more than 50,000 with businesses coming to london tech week from around the world. and there is so much energy and excitement. the great thing about london tech week is it is bigger each year. you have startups to those thinking abut startups, to the multinationals, to innovators, entepreneurs, researchers, all in one place. it is a very exciting ecosystem and this is the future. we cannot run away from ai automation tech. why? because a, it is out there. and b, it would be foolish to do so. we are going through a forced industrial revolution. i want to surf the wave. i want us to make the most of the tech sector. it improves ou

one of the big things about tech and even the smaller guys -- what are the players in tech saying abouts lacking environment? katie: it is a real risk, because the u.s. has historically been on the cutting edge of all of this and china has a massive advantage with a centrally managed economy. with 5g is connected to ai, they have three stayed on companies that can push the capex to own that space. i think there are worries about china taking the lead over the u.s., and the answer is we have to have better public-private partnerships and be more involved with government as well as the corporate to maintain our technological edge. one thing i will say regionally is we are a little fearful in seeing a hugeare advantage over europe. scarlet: how much space to these silly con valleys -- silicon valley ceos have what the government? katie: i think we need to do more of. are dependent on proving out the business case of this, because we want the private capital to come to market, and it will take us a little bit longer. it will take people a little longer to buy into the business, where as in

i do think we're rike likely toa case against one of the major tech platforms. i don't know which one would come first. i think apple is the safest. you know, amazon has a lot of kind of -- there's kind of a lot of easy, discreet practices that they do in terms of prioritizing their own items in their -- in the search rankings and giving themselves the buy box and kind of taking over entire categories of products. you know, some of the google enforcement we've seen in europe is pretty low-hanging fruit, especially, like i said, the google android case. but i do think we're likely to see a case against a tech platform in the next year or two. but i'm not sure which one. >> i think we're living through kind of a set of historical factors that are all converging at this single moment. so i think now more than ever, we're perhaps likely to see another section two, if there is that enforcement will. you know, we're seeing growing interest on the hill, so there's an anti-trust caucus that was formed last year. you know, more and more members are reaching out to kind of

growth in any half year in the last 15 years, so we've had growth tech outperform, so the most expensivestocks outperform the least expensive tech stocks by 30,000,000% year had -- the we've whole market has moved towards growth, but it has been a really, really pronounced in the tech sector. it's difficult to say. we advocate kind of a balanced approach of both inexpensive and expensive technology stocks historically, stocks at the end of the spectrum have done well, stocks with middling valuations actually have not done well historically in technology, so we are still advocating a balanced barbell. joe: it seems like one of the things we've seen lately, maybe in the last month or two, has been this incredible spreading we've been talking about. fiv --ares and shop a wayfairs and companies people were not talking about six month ago shooting up in a matter of 30 or 40 months, is this a sign that people are just dashing for anything? >> on a little torn on that. yes, we are seeing continued momentum in growth stocks, which , butto be more expensive at the same time in a rising rate envir

also this week digital addicks we look at how the tech industry uses psychology to design products we can't put down. plus a major setback for libya's oil industry is finding of the. future production risks . the prospect of a trade war slowing down the world's economy means investors have been reassessing where to put their money in recent weeks developing market currencies like the turkish lira and argentina spasso have fallen to their weakest levels in months against the us dollar for the first time the fed is the only major central bank raising interest rates that's lending support to the dollar but a central bank conference in portugal this week the us federal reserve chairman said the case remains strong for more u.s. rate hikes and that means trouble ahead for those countries borrowing in dollars after the end of the global financial crisis rockhold low interest rates in the u.s. meant many developing nations borrowed in dollars now as the dollar rises it's costing those developing countries a lot more to repay their debts for economists it's raising alarm bells. joining us fro

the other verticals. when you line them up -- say staples, discretionary, et cetera, tech is the eighth or so most rich vertical have seven other in front of it when you look at tech relative to market on a peg basis it's basically where it's been. i don't think tech valuations have run away. >> if chinese investment in u.s. tech gets curbed or slowed down, what is the impact spend some time in silicon valley look who is buying real estate you see a lot of chinese investment coming in, at least on the ground level. is that money going to significant places that will see a slowdown that could eventually tri trickle through to the market if that happens >> you could obviously have an impact you're seeing that with investors, trying to assess it today. the last six quarters or so, they're trying to gauge the impact of this tech m & a has been down because of regulatory issues that chinese companies will have to handle having said that, don't forget about the big pockets of capital that can step n softbank fund is making very large investments. other pockets of capital could step in if there's other disruption. >>

from the high-tech goods imported from china. was deeply concerned about the militarization of the south china sea and an issue that many military analyst has .een beijing, thezie in kennedy school of government, the former u.s. secretary of defense and also special defense adviser under president reagan. he is also the author of a recent book on china and the u.s. entitled "destined for war." thank you so much for joining us , and following the singapore summit, do you believe that president trump should be getting more creditwar." thank you so much for joining fe slightest amount of achievement that came about that. >> the overselling of that or the under appreciation of the other. much,d say that pretty the critics have drummed themselves up with such predictability. in terms of the bottom line. that we would appear in any feasible alternative. i was say that this gets good marks. deficit going both ways being filled out a little bit more after this meeting? >> if we listen to both trump , we would believe so. what they actuall

china is the biggest tech market. had a lot of success in some sectors like you limit the ability for us companies to sell china, you put pressure urine on china to beat. it's a global supply made. chip is made in the us. goes to china to be completed. smartphone and comes back here. there's a worry that there's not of nuance in the policy. emily: there has been an impact entertainment in chinese technologies, what is titimpacts so far given the for tat, and what could the impact be. investment - nese a roughly 90% drop in the first year onths of this compared to last year. t's a huge difference in 2018 versus 20 #. wheel tech companies have not hit. the hard eggs they have faced a lot more difficulty in facing a reception in silicon valley and beijing, in terms of policy, what is interesting is that on thursday, chairman shouldin pin and said in utives the west you have the practice other cheek. in my country we punch back, before the news broke that chinese tech firms can face in the united states. i think it will ge

thought the selloff in applied materials is overd i think ahmet mat is going to keep up to the rest of the tech >>> my mission is simple, to make you money i'm here to level the playing e's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. even the best leader isn't enough to get this market roaring. if no one else is willing to follow nasdaq gained .41% i am thrilled that the tech heavy nasdaq remains strong. without tech, i think the bull would be toast but the truth is that while a ogroups are rng the way here, namely techs and retail if we don't get followers soon, this can spell the end of the advance. sure, apple is up again gaining nearly a dollar and inching towards a trillion dollar market amazon is making its move in the trillion dollar horse race too rising $31 netflix was off to the races again

we are seeing some long the rally in tech stocks can go. nsive. you put the trade wars and some of the intellectual property discussions into the background with cyber security and the markets are getting twitchy. people selling? they can lock in great profit if they have held them for a while. if you have held them for a while. if you have held them for a while. if you have held the big american tech stocks through last year you made great money. frank is facebook, netflix and google —— fang. and amazon. money. frank is facebook, netflix and google —— fang. and amazonm the uk we have the treasury women's in finance charter coming out and that ties in with comments we have heard earlier this month about the —— from the deputy governor of the bank of england talking about the role of women he hopes to see coming through at the bank. absolutely, the report will name and shame a few high companies who don't have women on the board. sports direct and stow but our two of the companies. yet a new governor of the anger ringland ina yearorso new gov

that's the real battle is the tech companies, not the cable companies. >> one of the key questions is

it probably seemed impossible when he got to the campus of georgia tech. but here you are today. so congratulations to you. [applause] the other lesson i learned was one that my father taught me. what is the worst i can happen, someone can tell you know, then what have you lost? well, that basketball player told me no. but his teammate told me yes. so i gained an a. by also realized, we are all human. to me,s more evident when i looked at the really cool guys in my classroom that day, who completely lost it when the basketball player walked into the room. reminder, that sometimes, it is a simple things that we do that make a difference. because going to frederick douglass high school on the west anyway,atlanta, for me georgia tech seemed like a place far, far, far away. a very magical place. but what it showed me is that sometimes, the simple act of kindness, simply coming into our classroom, making georgia tech a real to children on the west side of atlanta, that made the difference. and i am still talking about it 30 something years later. also, a lesson that i learned. reminds

but the tech sector is also a really kind of compounding the situation. it's been relatively unscathedded by the trade tensions, but today it is taking a huge beating. it is widespread as well crossing all kind of different subgroups of technology. so i thought let's show you one by one. let's start with some of the tech-related exchange-traded funds with a bunch of names you may own in each of these baskets. the s&p technology etf, that's the xlk, currently down two and two-thirds percent. when i first looked at it today, it was down two and a third percent. flip it over to the software and services etf, right now it's down 2.5%, taking another further leg down you can see here. so it stands could down to 80.9. and let's throw in something you would think is not necessarily sort of at risk here. the first trust cloud computing etf with a lot of cloud commuting names, skyy, it's down 2.5%. the semiconductor index with a lot of chips, look at this, on track for its biggest one-day slide since april 19th, it is down 3.5%, just off its worst lows of the sess

the year it's back. jim, here we go gun. all this talk about tech being dead, and here we go >> this is one where i feel it's become a stealth rally who? because everybody talks about the ang, and it's all these other stocks that are doing terrifically look at texas instruments. that's one people don't consider important. it's very important. advanced mike row is making the move of a lifetime, and the doctor is doing a great job. people say, what is that that's at $11, who cares it's not at $11 anymore. nvidia, also, my dog answers to nvidia, all-time high. >> that's been in very much ways a tell for tech. nvidia hitting new highs, tech has supported that >> data center, ay right? video games, have you seen those stocks they're absolutely incredible. autonomous driving remember when that was supposed to be over a terrible, fatal crash. it's back on i urge people, if theirver saying it's all fang, they're oblivious. fang has been great, but let's salebrate non-fang, cloud kings have been the credible there isn't an area of tech that has been a dog >>

the tech giant is headed to hollywood. is bloomberg. ♪ yvonne: happy friday out of here in hong kong, three minutes away from asia's first market open. ramy: the sound of happy thursday doesn't have the same ring. p.m. eastern in new york. yvonne: you are watching "daybreak: asia." let's get to the first word news. >> bloomberg sources say president trump has approved tariffs on around $50 billion of chinese goods. a refined list of targets will hone in on technologies where china wants to establish itself as a leader. ,he list will be implemented but no date has been set. some tariff taking effect within weeks. chinese regulators have approved an acquisition by he was semi-conductor company qualcomm. china was reported it would approve the $40 billion deal if they got assurances the u.s. would lift a ban on zte. disapprovalnators president trump's decision. mario draghi announced asset purchases will be phased out by the end of december, but will keep interest rates at current levels. that definition is caught -- that dov

the epicenter of tech funding and deals. the last few years, some venture capitalists has gone global. earlier this spring, 500 startups struck a deal with abu dhabi financial group, which now owns a stake of the company and helps oversee operations. it is one of the most significant moves from the ceo, christine tsai, who took over the position last summer after a high-profile me too departure. christine joins me in the studio. let's talk about the abu dhabi deal, very unusual. how will thiwork? >> our mission has always been to discover the world's most talented entrepreneurs, help them build successful companies and thriving global ecosystems. over the past eight years, we feel like we have made a lot of progress, but we have just scratched the surface. invested in more than 2000 companies in 16 countries and we feel like our mission is far from done. in terms of our partnership and investment with abu dhabi financial group, we are looking forward to taking 500 to the next level. they have joined our board, have a minorit

the edge. i think it's a good time for tech start-ups and many of the enterprise companies are looking to tech help bring them innovation i'm cautiously optimistic for the second half of the year. assuming we don't get into trade issues or anything like that, i think we'll have positive start-ups. >> you told a room that 40% of the businesses in this room will not exist in a meaningful way in ten years. if i'm not making you sweat, i should be, you said. is that vision intact a few years later? >> i think it's more than intact it's happening at a tremendous speed. you all see the disruption as well when i said that about four or five years ago, people said, john, you're usually pretty good on the trends but this time i'm not so sure i agree. it actually may be too conservative the fortune 100 knows that what gets a company or country in trouble is missing market transitions, not innovating. not having the courage to change doing the right thing too long i think that number will be conservative and you will see disruption happen faster look at the market cap evaluation it took amazon, what, 21

shery: the market fall continues. teching the decline in the u.s., making up about half of the s&p 500's flop. facebook and apple down for three consecutive sessions. live from toronto and new york, this is bloomberg. ♪ >> it is 2:00 p.m. in new york, 11:00 in san francisco, and 7:00 in hong kong. julia: i'm julia chatterly. julie: i'm julie hyman. welcome to "bloomberg markets." julia: we are live in new york over the next hour. here are the top stories we're covering. nasdaq havingthe its worst day since april as trade tensions hit equities. speaking of trade, china and europe say trade war could trickle a -- trigger a global recession. how serious is the threat. and the royal welcome, president trump due to meet making of jordan in a few moments. and in the meantime, checking on where the stocks are trading with abigail doolittle. >> here is the pullback for the major averages. declines for the dow, s&p 500 and nasdaq. the worst day since april for the s&p 500 and nasdaq as trade tensions continue to hit. and it is inte

we also caught up with thrive ceo to talk about the tech giants first to curb tech addiction.hese features that have like a block notification, sink with calendar, geolocation, and give us clear visibility into how much time we are spending with different apps, games, etc.. these features are being integrated seamlessly. you know how hard it is to , and what is so exciting about this announcement today is that because they are so seamless, it is going to be much easier to use that. we know we all need to set boundaries in our relationship with technology, but we are all having a hard time, we are becoming increasingly addicted. center,this convention with 5600 developers from 77 , when craig announced these changes, there was applause from the developers at the very moment when he talked ,bout being able to set limits to decide how much time you spend. these are people making a living from apps, so it's shows how far the culture has changed. rich, at theony is same time, apple is releasing features that make the technology even more addictive. i mean, shouldn't we just be turn

yesterday i guess and what does it entail for retail and how about the impact upon the tech sector will tell us and we've had a great feedback on the argue on r.t. correspondent dan cohen series on the health risks associated with cell phone use it's both scary and actually sort infuriating information he brings to us but it's incredibly important that we receive it dan will conclude is serious today plus the chairs of the u.s. securities and exchange commission and the commodity futures trading commission both nominated by president trump to jobs and confirmed by the united states senate last year have been facing some challenges how are they doing public citizens partly nailers will they get it and conservative t.v. and radio host steve balls are helpless or out in the global investor confidence which has dropped like a stone this year all that ahead but first we get a few at. the shanghai stock market has entered bear territory the shanghai composite index is now at a two year low having fallen by one point five percent in wednesday's trading at more than twenty percent since a high

it seemed at the time, at least, that all tech companies walked on water. they would make our lives infinitely better. they ushered us into a future we could only dream of. at least, that was the country's general feeling towards silicon valley at the time. and it was this same feeling that fueled the excessive speculation that led to the internet bubble just a couple of years later. in 1998, if tech reigned supreme, then microsoft was its king. but i was among the few skeptics at the time. i was just one among a tiny handful of legislators who appreciated the invaluable contributions of tech, of the tech world, but who were also wary of the monopolistic practices that could bring innovation to a screeching halt. in this environment, i brought bill gates before the senate judiciary committee, a decision that i have to say, needlessly to say, i'll say ruffled some feathers. my central concern was that microsoft was engaging in anticompetitive business practices by bundling its browser, internet explorer, with its operating system, microsoft windows. in time,

industry want higher standards too but in the meantime for a tech company in the attention economy the more time a user spends online equals more money from ad revenue that revenue hit a record eighty eight billion dollars in two thousand and seventeen well joining me now from london is dr jamie woodcock jamie is a research or at the oxford internet institute good to have you with us so first of all how is human psychology used in digital design. well i think what we've seen is many attempts to introduce ways as you as you mentioned to capture people's attention and i think it's no surprise really that these kind of psychological aspects of being included but i think one of the ones we have to point to as being particularly problematic is the use of gambling or gambling like aspects in in video games for example to get users not only hooked but also it can cost a lot of money to give us some examples of how popular apps and social media platforms use psychology than other than the gambling games you've referred to. i mean i think many of these are around feedback loops that are introdu

case of the tech index. look at it without google and facebook, and actually is still tracking gains in the broader index. it has more relative strength about those two names in it. netflix will be switching out of the consumer discretionary sector in september. it's going to be more reliant on amazon. we will see if it continues to perform this way. caroline: that's a fascinating discovery. vonnie: you are taking her on today. caroline: i love a bit of tech. on a day where we see the yield spike higher, we have concerns about what happening in terms of municipal elections in italy driving up the yield, i bring you volatility of italian bonds. this has been the volatility on the 10 year. tenure volatility has started to come down. the government is fighting elite. finally, we've got a government forming in italy. we see elevated levels of volatility in the longer term. this is tracking at the 10 year volatility. we have elevated levels. if you look at missable election date of the came out, the populist part

first, to our top story, apple suppliers are feeling the pressure after a new report that the tech giantas warned suppliers of a drop of around 20% in new iphone component orders. meantime, foxconn raised $4.3 a success its ipo, for the group's boss and his aim to nurture a smart factory division to rely less on making products for apple. foxconn has the maximum 44% in shanghai on its opening day, the largest tech company listed in mainland china. the business is more valuable than ebay with the market cap of over 60 billion u.s. dollars. clients include amazon, dell and cisco. up to 30% of the revenue comes from apple alone. company's strategic investor list reads like a who's who of china's top firms, including alibaba, tencent and baidu feud -- baidu. state companies also took a large part of the pie. tom mackenzie, bloomberg. emily: here to discuss the global supply chain for apple and the foxconn ipo, we are joined by ian king, and we also have garrett with this. you have an apple analyst who says the report is just noise, should we be skeptical? garrett: i think it's worth treating

del, the world's largest private tech company had an upbe first quarter. the corporate spending environment has climb $24.4 billion in the period. michael dell will have a tie-up with v.m. ware or a possible i.p.o. coming up, microsoft is going back to its roots. github, popular with many software developers. our interview with satya is next. listen on the bloomberg radio app, bloomberg.com and on sirius x.m. this is bloomberg. ♪ emily: microsoft said they will buy github worth $7.5 billion. they will add programming tools. i spoke with microsoft c.e.o. satya nadella earlier and asked what github adds to microsoft now and in the long run. satya: if you think what's happening in the world around us, computing is in everything. it'sour daily lives and economy from precision agriculture to precision medicine or personalized e personalized banking and is driven by software and every company is becoming digital and that world is being developed by develors. linkedin stat, developers in nontech companies like retail, energy, is growing double digits. 25% higher g

we will bring you the latest in tech throughout the week.tesla's delivery numbers and this company's ongoing question for a -- and its ongoing quest to turn a profit. tune in each day, bloomberg technology's live streaming on twitter. and he sure to follow our global news network on tictoc on twitter. this is bloomberg. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. ♪ taylor: coming up on "bloomberg best," the stories that shaped the week in business around the world. trade issues again dominate discussion as uncertainty continues. >> markets go down because they see changes in policy and then a spokesman goes out and says, nah. a landmark decision in a landmark departure from the u.s. supreme court. >> definit

what does the rally in these kinds of stocks say about the broader tech >> what it says to m the complacency in the market is back to where we were. everybody thinks the fed has our back and they may be right the market has basically staved off the lows on three different times, tony dwyer will speak to it but what it says the vix is below 12.5 people are looking at valuation and they don't care. angie's list 54 times so valuations don't matter. their stocks that have performed extraordinarily well over the last couple weeks when it's be clear the market pushed back those lows and it speaks to me of renewed complacenccomplacenc. >> you go out further and further on the risspectrum lookin a market where it's increasingly icult to find the extra return because fang stocks are the market right now. >> if i chart amazon and i chart grub hub, it's the same chart so if those large cap tech stocks sell off they're going to sell off more as well so here's the point, bottom line is pandora is up 60% do we thinpandora's business model is solid i think there's reinforcement for dash for trash, dump div

a 25% higher growth rate there than even in the tech companies. hows we are in the very early innings of what is going to be a set of tools and staff services that are required to empower every developer out there. so that's the real strategic rationale. if you think about microsoft, we've always been a developer first company. that's how we got started with the developer tools. now we're all in on open source. and so with thatbecomi together github and microsoft makes a lot of sense for us. we can contribute a lot and stay true to the original ethos of github and that's how we'll operate going forward which is being developer first. emil github has had issues finding a way to grow significantly, turning a profit. they raised $2 billion just a few years ago. what will microsoft do differently to justify this $7.5 billion price tag? satya: you know, we feel very, very good about the growth rates github has. but github first starts, whether you are a hobbyist, a student, or a small startup or a -- first working in a large company, to be able to use g

softbank has a big name in the tech world. y of the mark, we are seeing big pockets coming from softbank's vision fund. equally, waymo. the parent company, alphabet, has huge pockets as well as they have been splurging money too. mark: they are not short on cash. i think this is a significant show in the fact of the criticism of alphabet. waymo has not been able to get up to scale with enough vehicles. this is 62,000 vehicles they have committed to buying. they have not given a time frame. there are some saying they are skeptical that we will see 62,000 say, next year. this may be waymo hedging their bets a bit. i imagine they are talking to honda, they are selling to -- willing to sit down with more carmakers. what they want to see is a carmaker go in and design an entirely new vehicle to do fully self driving. that is where we will see a big commitment from waymo. caroline: david, this is what is so interesting. ande all these carmakers tech companies fit in the food chain of all of this. tell us about what gm is doing. they

we will bring you all the latest in tech throughout this week. tune in for our coverage from the entertainment software industry, the annual e3 conference in l.a. we will talk with nintendo, microsoft studios vice president . tune in each day, 5:00 in new york, 2:00 san francisco. remember, all episodes of bloomberg tech are live streaming on twitter. that is all for now. this is bloomberg. ♪ s bloomberg. ♪ betty: 24 hours to go, president trump is in singapore. he says he will know within seconds if the summit will succeed. kim jong-un also here. you lost balance of the western investment, giving up the nuclear bargaining chip. haidi: the g7 ends in disarray with hopes under attack. washington says canada is dishonest and weak. the summit, the fallout,

but many of the tech titans creating these products choose to power down when they leave the office.ustry giants like bill gates and steve jobs, who restricted their own kids' access to technology at home. preert laront has worked for companies including microsoft and intel. >> the phone is typically set on a table at the entrance. that's where they live most of the time. >> reporter: he says the tech industry designs products to hook users. do you think the average parent is aware of that danger? >> no, i don't think the parents are aware of that. they don't see the consequences because nobody's told them. there's no warning on the product. >> reporter: pierre and his wife, monica, became concerned that their three children would miss out on real-life experiences while on their devices. so they decided to limit their screen time. researchers are still learning more about how technology affects kids. but some early studies of heavy tech users show potential links to a rise in teen suicide rates, addiction, anxiety, and loss of social skills. >> do they ever come to you and say i real

the last nine months. levered energy played. a tech play that we talked about it when it was andhanded down to amd because of crypto. they came back and they upgraded the stock and a week and a half ago cal yllan upgraded it. i still think it is further upside >> dan, the s&p acted really well in the face of a lot of really bad news all over the globe. you this i nk of what's going on we saw money coming out of em and weak data in europe. the s&ps have been nicely cold datco consolidated half that game came today. whatever you think of the global growth the u.s. stock market is discounting on a whole heck of a lot which is 10% to my eye some very narrow breath among things they have been working for years now i am just going to eye ball it and the s&p is telling us that things may not be as great as the data is showing us here and the others stuff around the world may be reasons to take part >> the fact the matter is we have been a tight range since february it has been in the phase of all that's going on, this week is one example and

i want to take a look at the tech sector, an area you are focused on. y put a chart together and that i think is amazing to look at. over the last five years, the blue line is the s&p 500 and how far it depreciated. and you can see the massive, massive gains that have been made by the tech giants here. these are the fang stocks, the fang index, so to speak. is that not a little bit too far too fast? isn't this looking publishes -- bubbleicious? peter: it's an interesting question and technology has been a driver of this market and some of the stocks have become huge, the ones that you mention are bigger than the whole of the euro stoxx 50, for example. they have a market cap equivalent to the annual gdp of the whole of africa. no doubt they are huge. what i would say is that if you look at the performance of the tech sector over that period of time, it's been driven by strong profits. about 90% of the rise we have seen in the last 10 years in the tech sectors come from profit growth, not from valuation expansion. that's much more significant than the res

hello, welcome to the week in tech. la in autopilot mode crashed into a police car in california. the driver sustained minor injuries after deciding to take a break from the wheel. uk drone users could soon face a fine if they do not undertake an online safety test before taking to the skies. and virgin galactic has completed its second supersonic test flight in two months, yet again sparking talk that an out—of—this—world trip could be edging closer. if you're a street performer, london may be the place to be. buskers in the city can accept payment via contactless as well as small change, thanks to a partnership between busk in london and the now paypal—owned swedish tech firm izettle. wondering whether it's worth installing solar panels in your home? google‘s project sunroof now aims to help homeowners in some parts of the uk find out what savings they could make. it combines machine learning with google earth and maps data, local weather information, and property features, like the angle of your roof. and finally, eve

for the uk >> london tech week a great opportunity for us to welcome the investment we had in the ukch companies. recognize the huge opportunities there are here in the uk for tech companies to start up and grow and to talk with people around the table. as i did this afternoon, we have venture capitalists. we had people who have set up tech companies, who have sold tech companies, set up more tech companies. people who are really innovative in this sector and it wasn't just people from the uk sitting around the table. we had people from argentina, from the uea, from america, from china. from israel. so it was a real otunity during london tech week to talk about the ways in which the tech sector here in the uk has been so successful and can be successful in the future just an example of that, in 2017, last year, we doubled the investment in the tech sector here in sector here in the uk compared to the previousier. >> prime minister, one of the key parts, the government side of this initiative, investments also coming in from the government side is the start-up visa it is a recognition

he says the tech industry designs products to hook users. you think the average parent is aware of that danger? >> no, i don't think the parents are aware of that. >> reporter: pierre and his wife, monica, became concerned that their three children would miss out on real-life experiences while on their devices. researchers are still learning more about how technology affects kids, but some early studies of heavy tech users show potential links to a rise in teen suicide rates, addiction, anxiety, and loss of social skills. none of the three children played video games or watched tv, and they didn't get cell phones until they were teenagers. their 13-year-old daughter, maia, spends her free time knitting and playing in the backyard. do you ever miss technology? >> not really, no. the only thing i might miss technology for is listening to music or an audio book. >> every parent is really struggling with how to reap the benefits of technology while minimizing some of the risks. >> reporter: caroline knorr is the senior parenting editor for "comm

does that me the way for tech stocks? sted in technology companies that have less regulation, more repeatable business models. some you like amazon, netflix, maybe even salesforce with the transition to the cloud. all of that is interesting. avoiding those that are caught up in the crosshairs of regulation. that is where we would wait for a better buying opportunity. david: when you look at the regulations, does that take you into the semiconductor companies , the people making the technology behind the scenes, so it is less likely in the government would regulate? saira: we are avoiding technology like that but also looking at other areas that could be interesting. financial technologies around visaorld, companies like that are benefiting from the transition away from cash. we think those companies are more interesting, they have more structural growth than the cyclical place. alix: what about the relationship between the nasdaq and the s&p? the blue line is the nasdaq, the s&p is the white line. everme the nasdaq has top