that's why europe will have no hope of building a google amazon., what are the important steps to guard privacy without hurting these giants, which are important to any country's progress. for example, permitting sales and giving away data like facebook and cambridge analytic god. ensuring there is transparency and policies being delivered to end-users. ensuring there are opt outs or dials that users can have to scale back in terms of how much data to take. i'll talk to some european policymakers about the consequence. the rear is, mr. lee, you are telling us this may slow down ai, you misunderstand. we want to slow down ai. as long as the country intentionally wants to slow down ai and its technological competitiveness then, of course it's free to do this. >> maria: congress is looking at this right now about privacy and zeroing in on things like google and facebook. >> i saw the congressional hearings on facebook, google, and the other companies. i see there is currently a d.c. versus silicon valley debate going on, as well. i was in one hand, th

most private details tech giants already are wielding massive power corporations like facebook google amazon and apple leave rivals little room to breathe they wriggle out of paying taxes and governments struggle to regulate them many are looking for ways to change that the bosses of google amazon facebook and apple wield immense power before tech giants are sometimes known by the acronym gaffa their products and online services have almost global reach one of their key assets is big data about the zillions of people and their preferences. it said the companies know more about us than to our partners or doctors. do you find that scary. yes little. why. because we could be sliding into a situation in which we're no longer sure if our wishes are really our own. or if they only seem to be our own. because these companies might one day be able to present us with products opinions or information that correspond to our taste to what we're looking for at that very moment. these firms can play hardball one example google has an online price comparison service when one does a google search for produc

how text giants like amazon and google are expanding their growing information empire as they expand to our homes. you can check out bloomberg on the bloomberg cap and on sirius xm. this is bloomberg. ♪ ♪ emily: as tech giants like amazon and google work to place their smart speakers at the center of the internet-connected home, both are expanding the amount of data they gather about us, the people who use their voice software to control these gadgets. it is stirring up more privacy concerns. we caught up with bitter works betwaorks ceo on tuesday. >> so amazon sees an opportunity with the echo smart speaker and its ring doorbell purchase last year to be a force to be reckoned with in home technologies, whether that it shopping with your voice, controlling other gadgets, televisions, thermostats. this wireless purchase they made yesterday of a company in san francisco is the next step in that evolution. matemily: emily: john, do you see more pros or cons with amazon and google living with us? john: i mean, i think in 2019, when you look at the tech landscape, you can see tech with all

emily: the speaker market exploded with competition, amazon, apple, google. think of as your main competitor? of the players that are there, a lot are helping more people get into listening out loud, and there have been cheap bluetooth speakers. amazon,what google, play in time, and we are the option for those who get a taste of music streaming service and want something better to last longer in your home. emily: are any companies seeking more share than others? you can listen to alexa on your sonos speakers. >> we work with companies in the streaming space, spotify, sirius xm, you name it. one benefit is we build products that are built to last. they sound great and work with all the services. you are not trapped in one ecosystem, you can get what you want. that is why we are hitting record sales. emily: amazon and google have sold a lot of speakers, and that is not somebody choosing any ecosystem. >> that is right, but when you are in the ecosystem, if you are using one of those products and think, this is nice, i want something for another room, or somethi

principle could regulation change that you look at advertising now, they've got competition, google, amazons rising, et cetera. does there need to be a new doctrine to achieve what you think needs to be done >> possibly for some aspects of the problem. relative to the competition issue, i don't think it is just about facebook, i think the issues that we saw at facebook are just as present at google, particularly in youtube. and youtube in terms of the harm it does to children, in terms of the impact of disinformation in election context is a severe problem. so i think you can use antitrust collectively against people with big data to try to go after that but i would dispute a whole bunch of conclusions you might draw from facebook's statement they're sitting there saying they made improvements i do not for one moment dispute that you're coming from zero base they're nowhere near 100 i will give you an example election transparency, last week there was a story about p propublica facebook shutt them down, won't let them do the analysis and another thing relative to privacy and disinformation,

google and amazon want their devices smart to mine even more data.n positive action and certainly posting the higher in the session. a bit of a 1-2 l good news with president trump letting the march 1st tariff deadline slide with china, and it looks like a little bit of motion on talks on a border security wall. materials,he upside, financials, energy are all gaining. only real estate stands out as weak today. a 1.5% moveg higher, but financials are right behind them. we are seeing strength across the big markets. shery: when it comes to the month of february, we have traded sideways and we have been held back by some of the technicals like the 200 moving day average. 200we have just topped the haveoving level, but we seen that chairman powell coming up and talking to students in mississippi talking about the economy being good and that rate moves take time to affect the economy, that also help stocks this morning. this optimism over the economy also perhaps helping oil prices, because we are seeing the wti climb back from the two week low. we have a

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's i think it's a self that's not on sacked that i hope assertion dr cynthia watched of this iran's once they want it's just their nine v.h.f. it is slick not to sit there for stuff to thank us and does all sky oh to be honest . we don't really know what exactly happens with their own digital trails our data is transferred invisibly to. huge data centers. sublimating into a complex new identity creating our digital self. to go to an event linked to smith think that's the sky in a human endeavor it doesn't just pad make it it's an ending of then thought into. view that often have the bus start to not feel and that again if you know it's off these hours for the want and thought stunt one for the finished ima it's all much money that is through an s.t.d. it is against us but it's on our file and the shots it says in everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment of people is the secret to te

corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's a click is a south fork that's not on sacked that i am personally since there was stuff this i don't since there were and it's just there are nine v.h.f. and a slick not a c. there or stuffed i guess it does i'll skip all i did the other isn't we don't really know what exactly happens with our own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. smartphones capture a communication behavior along when where and with whom we talk the data we create assembling our digital self is also of interest as a juicy source of information for the intelligence community. i don't do those coolest life. and it's not just i phones that's all this life it is i mean most smartphones of these days. they were tapping the fiber lines between the google servers yet. they didn't even know this is going on . i had a lot of. surveillance and also the trees had to as a light it came out it wa

do this and pursue this.ge most peopl hacked on a daily basis privacy is violated, , fabook, google, amazonways to deal with it. i think it is an important issue we need to discuss in this country, in the united states. in europe there is more stringent laws and fines around this. in california there is a law emerging, but we don't havecy national priolicy in the u.s., and it probably means, like for someone like him maybe , we should. jane: do you think it will have any impact on the waington post or amazon's shares? cara: no. i don't. i think it is interesting he did link ameri trump.a to president mr. bezos has been very slow to do that. he has never reacted to the attacks president trump regularly takes on amazon and the washington post. he calls it amazon-washington post in tweets. this is the first time he has come out swinging and saying no more. what is interesting here is the links between american media, the mueller investigation and amazon, and the washington post. it is a great story in a lot of ways despite the obviously titillating and fallacious pa s jane: thank you. today th

google assistance, it's any time the device status changes. how can consumers protect themselves? on this technology, there is not a lot of granularity in user control. both amazon and google offer options to delete data that the accumulated, but in terms of stopping the devices from informing the companies in the first place, does not really a way to do that other than unplugging them. emily: what you think the social repercussions of this are, john? we have the short term, seen a few instances of weird hacks that have taken place where people hack into other people's smart homes and started people speaking to baby monitors or adjusting the thermostats. we see software upgrades go haywire and reset people's rozen pipes.and f over time, when you see the entire home getting connected, the key is that these companies are trying to turn these devices into the central hub of passively collect all of the data for the home. if that hub gets hacked or the company is to use it for advertising data or other data, they are free to do that and you could see the entire home being under the request of a single technology provider. consumers are not understanding that is what

emily: amazon and google have sold a lot of speakers.ome in choosing a specific ecosystem. patrick: that's right, but the nice thing is you're using one of those products and you want to get something for another room of the home or you want something that looks or sounds better, and that also works with apple or google. that's where sonos comes in. emily: jpmorgan thinks apple should buy sonos. patrick: we are working hard to make sure we do the right thing to consumers. emily: would you be open to a deal if an offer at itself available? patrick: we would have to look at that and consider any offer, but i'm focused on making sure we are a successful public company for the long-term. emily: tell us what you are seeing and what is plan b? patrick: we have been in china for a long time. every component is there as well. last week there was some noise that was incorrect about what we are doing. certainly we have had a global expansion plan for a while. a always want to be in the places where your customers are. we have always thought about

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that simply is a self for a smartphone sacked that i am a person national guard since there was stuff this iran's once they owned it's just there are nine v.h.f. and a slick not to sit there for stuff to thank us it does i'll skip to the other as. we don't really know what exactly happens with their own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. into undeveloped blink this myth this does this kind of a human endeavor it doesn't make it an ending of then thought into since if you do that stuff one may have the boss start to not feel and that again if i don't softies alice for the want and thought stunt one for the finished ima need so much money that is through an s.t.d. it is against us but when someone fired any shots and says he and everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment of people is the s

amazon, microsoft, google, showing no slowdown in sight.his is bloomberg. ♪ scarlet: ubs wants to move part of its business out on march 1 saying it poses a risk. in -- a permission to transfer somewhere to germany. the final step needed to activate proposals ubs had laid out almost a year ago. venezuela pretty money of the fastest pace in more two decades. the money supply of the country rose 31% in a week that ended january 25. could be a sign the panicked government boosted spending two to protests, sanctions, and big chunks of the international community led by the u.s. the billionaire's investment firm firing the city manager out office romance was handled. associates claimed the foreign-exchange research bob l.a. did not disclose the relationship. and believes he was dismissed without cause. the woman involved was also fired. that is your business flash update. caroline: let's shift our attention. demand is booming. joining us from san francisco, from bloomberg intelligence. from intel worries and micron. that didn't seem to come thro

warren buffet and the bank that i've seen before >> i want to know you the typical is you ever google, amazon and jpmorgan >> wehad a deal in the last month. >> what was the first reason that suntrust gave for the merger they said to keep up with the technology spending. bigger was not better. it's only become better in the last few years give me a quick thought on that. >> it seems like they are at a much more mature stage that's a sign of progress. >> good to see you >>> let us know what happens >>> let's go to headlines with sue. >> hi, scott here is what's happening at this hour european council president adding pressure to teresa may. >> the least time on the 29th o march, the greater the likelihood of an extension i believe the situation we're in and extension will be for the solution prime minister may said at least determined to stay on track with that adding a delay would not resolve the issue. >> we have it within our grasp i've had a real sense from the meetings i've had here a real sense of we can achieve that deal. that's where all of my energies are going to be focused. >> it's

emily: john, do you see more pros or cons with amazon and google living with us? john: i mean, i think in 2019, the way -- when you look at the tech landscape, you can see tech with all of the promise of doing good and changing society, and giving us wonderful tools to enable us to do things is also starting to encroach upon our lives. i think that the idea of having an open channel for these tech companies into the data stream of my home -- matt will talk about some of the passive data collection taking place, it is not good. i don't think it's good for consumers, i don't think it's good for our country, or good for innovation. and for startups. emily: on one hand, when you put it that way, it's terrifying. you wonder if consumers actually understand what is happening. talk to us about that passive data collection, and what these companies are collecting about us that we may not even realize. amazon, seen as the leader in smartphones, and -- smart speakers, and and google started talking to the smart device maker partners about increasing the amount of data they

host of other headlines to think about in terms of that one, but basically i think facebook, google, amazonng names, listening to mike, they're reasonably valued. they're market leaders they have revenue less cyclical. some macro fears have probably proven to be a little overblown. they have competitive notes and reasonably valued. they're more than the late stage union cor unicorns mentioned earlier strength and fundamental bodes well for them, it is a dotted line, not direct regardless of china talks, there are headline overhangs, macro fears or china pressuring faang and tech market broadly and i think that created perhaps opportunity here >> the economist says looks like the bubble may be deflating when it comes to tech growth. is he wrong? is there not a bubble when it comes to tech? >> i don't think there's a bubble forthe large publicly traded tech companies. the reason i say that, they're pretty reasonably valued on earnings and free cash flow. a lot of cases, google, 140 b d billion dollar company, i look at the stocks and go back to prior cycles if you want to say bubble, i think

google. i do think cloud computing remains a very important effort for amazon, a fast growing, though a slowlyelerating rate of pace but also a huge profit driver as well. caroline: it's 1% or thereabouts of its overall revenue, how big does a.w.s. become compared to the rest of the business? tom: when you compare the relative growth rates 10 years from now, it could be 25% of sales. and if you look at it on that basis, that's why we believe amazon 10 years from now can have a consolidated margin in the 21% range. we do think you'll see more margin expansion in amazon over the next 10 years really driven by their cloud computing efforts as well as advertising and third party unit sales, also. >> that was tom forth aye, d.a. davidson analyst and darren baker, c.e.o. of jump shot. coming up, the u.s. rams up its talks with mawei and how did is it impact prospects of a deal? iphone sales slow down at apple with a massive revenue drop in china but tim cook on wearable services and bring you the results on fourth quarter results. this is bloomberg. >> the u.s. has hit china's largest tech company w

are they pushing back against amazon, google in terms of data they want? ink -- i think they definitely are. users don't want to be on the hook if suddenly all of their users have their data controlled by amazon, and if something goes wrong, they don't want that responsibility. companies that make smart home devices are looking at the space and are worried about their strength in the markets. bit of folkstle eyeing it. caroline: that's a great piece. meanwhile, i will stick with amazon. they are coming to the cello -- cochella. any essentials to a locker inside of the music festival. they will create a custom storefront for the event. this takes place over two weekends in california. i'm interested by this because i halfr how much they will to splash in cash to get it. romaine: the real question is, what are you giving up her this? how much of it to you really want in your life? it's a difference of personality. caroline: it's kind of a neat amazon music,sh the entertainment realm, and i guess it's good brand fit. i don't mind if they know i'm going to a mu

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that simply is a self for a smartphone sacked that i hope assertion since there was stuff this iran's once they owned it's just there are nine v.h.f. and the slick not to sit there for stuff to thank us it does almost all i did to be honest. we don't really know what exactly happens with their own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. to get to an event blink this myth think that's the sky in a human endeavor it doesn't make it an ending of then thought into. the view that often one may have the boss start to not feel and that again if it's off the cells for the want and thought stunt one for the finished imma need so much money that it's going to an s.t.d. it is against us but it's an awful and he shot and says he and everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment of people is the secret to te

that said, we've talked a lot about how amazon's ad business is growing. facebook is google's competitor, but amazon is taking a bigger bite out of the pie. amazon reported in its earnings report that their other revenue, who we believe mostly accounts for advertising, hit $10 billion. we asked how much of a threat she thinks amazon is. she said whenever new inventories created that attracts consumer interest and advertisers will be interested in advertising against that inventory. the market is continuing to grow. there is still a tremendous amount of line. it sounds like you think there's continued opportunity for the market overall to grow and willfore perhaps amazon not be making a big dent in the business. we've heard this story with google and alphabet and its cost before. we wonder why the investor reaction is always negative to google spending as opposed to company like amazon, which seems to get a pass for a lot of its. in the lee coel and that has been the story of amazon spending for the last 20 years -- that has been the story. a lot of it has to do with perceived

corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's a click is a south fork that's not on sacked that i am person. sent there or stuff this i don't since they want it's just there are nine v.h.f. and a slick not a c. there or stuffed i guess it does i'll skip all i did the other isn't we don't really know what exactly happens with our own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. smartphones capture a communication behavior along when where and with whom we talk the data we create assembling our digital self is also of interest as a juicy source of information for the intelligence community. i don't do those coolest life. and it's not just i phones that's all this life it is i mean most smartphones of these days. they were tapping the fiber lines between the google servers yet. they didn't even know this is going on . i had a lot of. surveillance and also trees had to as a light it came out was spying on us an

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's a click is a self for a smartphone sacked that i am a person mentioned dr cynthia watched of this i don't know and it's just there are nine v.h.f. it is slick not to sit there for stuff to thank us and let us all skip oh to be honest. we don't really know what exactly happens with their own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. into undeveloped blink this myth think that's the sky in a human at the end of it doesn't make it it's an ending of then thought into. the view that often one may have the boss start to not feel and that again if you know it's off these hours for the want and thought stunt one for the finished imma need so much money that is close to an s.t.d. it is against us but it's not on fire and dish often says ian everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment of people is

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's a click is a self that's not on sacked dot com i have a personal mission dr cynthia watched off this i don't see once they're on it's just there are no in v.h.f. and a slick not a sit down or stuffed tiger suit does all school boy to be honest. we don't really know what exactly happens with their own digital trails. our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. into undeveloped blink this myth the fish that's the sky in a human it didn't have it doesn't make it it's an ending of then thought into this you see if you do that stuff one may have the boss start with. you if you know it's off the house for the want and thought stunt one for the finished imma be so much money that is close to an s.t.d. it is against us but it's an awful and he shot and says he and everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment of pe

. >> the big winners of artificial intelligence is going to be amazon, google, facebook amazon really -- despite having a record profit appeared during federal taxes. we need a new value added tax that would help harness the gain for those new technologies and bringing those gains to ohio one the american people in the form of a thousand dollars dividend. >> quick question is not taxable are protected. >> it would not be taxable. gillian: so, how much is this going to cost. have you come up with that number? >> if you come up with their current spending, we are spending $1.5 trillion on several hundred programs including food stamps and programs we can get by providing a dividend that ends up a better option for many people enrolled in those programs are the value-added tax and technology companies i describe would generate 800 million in new revenue, which combined with current spending, all the economic activity of as well as cost savings and value gained would be enough to pay for a dividend of $1000 per month. gillian: you say the policy proposal is socialist right? >> it's capita

corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that's a click is a south fork that's not on sacked that i am personally sent there or stuff this i don't since they were that's is this there are nine v.h.f. and a slick not a c. there or stuffed i guess it does i'll skip all i did the other isn't we don't really know what exactly happens with our own digital trails our data is transferred invisibly to huge data centers. sublimating into a complex new identity creating our digital self. smartphones capture a communication behavior along when where and with whom we talk the data we create assembling our digital self is also of interest as a juicy source of information for the intelligence community. i don't do those coolest life. and it's not just i phones that's all this life it is i mean most smartphones of these days. they were tapping the fiber lines between the google servers yet. they didn't even know this is going on . i had a lot of. surveillance and. cheese heads who has a right it came out both spyin

[heartbeat] david: tech titans like google, amazon, facebook and others could soon be facing more scrutinythe federal trade commission has now launched a dedicated task force to police potential monopolies and mergers. let's go to hilly vaughn on what -- hillary vaughn on what this could mean to consumers and investors. >> the federal trade commission is putting together a dream team of tech savvy lawyers to look at how tech giants became so big and built their app empire. bruce hoffman saying in a statement quote technology markets which are rapidly evolving and touch so many other sectors of the economy raise distinct challenges for antitrust enforcement. the new task force will be able to focus on these markets exclusively ensuring they are operating pursuant to the antitrust laws and taking action where they are not. this new task force is putting tech companies like facebook and alphabet on high alert because this isn't just about mergers moving forward. the 17 lawyer team will also look at done deals and could retroactively unravel them. so that task force could take a second look at

amazon as the top pick. >> i own booth it looks like we're forming a bottom in that particular trade. googledirection. 11.50 where if it can break break through, the stock doesn't have natural sellers above it's been a long road and it hasn't gone anywhere in a long time but i think it's heading in the right direction right now. >> this is a great proxy for the market one of those stocks i put in the camp that is not cheap trading 22 times next year growth rate's 12%. that's slowed considerably but to josh's point, he's right that you 11.55 range or that 11.55 print back just a few days ago is a big point overhead resistance >> what did you think of this? the relative strengthing in alphabet versus a lot of its peers has 0 something to do with the big valuations that lyft and uber might get as they go public google has the waymo unit that could get a big rebate for the stock. that's not technical but - >> probably. i wouldn't know the fundamental break down of that but my point to the breakout is this is one of those market cap leading type stocks that you you have to watch as a proxy for th

also private corporations like google amazon facebook and apple collect millions of pieces of information about us to analyze and monetize. that simply is a self for a smartphone sacked that i am a person mentioned dr cynthia watched of this iran's once they're on it's just there are nine v.h.f. and the slick not to sit there for stuff to go see it does i'll skip to the other isn't we don't really know what exactly happens with their own digital trails our data is transferred invisibly to. huge data centers. sublimating into a complex new identity creating our digital self. to get to an event linked to smithy's that's the sky in a high human endeavor it doesn't just pad make it it's an ending of then thought into this you see if you do that stuff one may have the bus start to not feel and that again if you know it's off these hours for the long stunt and one for the finished ima feed so much money that is through an s.t.d. it is against us but it's an unfair and he shot and says in everyone gets smarter because of this technology because it's free or very inexpensive and the empowerment o