your picks, these are companies that your fund either owns or your company does, etsy, the crafts company general motors, which might surprise a lot of people even though they're moving towards electric vehicles strongly and keysight technology, one i'm not familiar with off the top of my head you can explain it to me >> sure. so starting with keysight, keysight provides electronic testing and services you're right it's not a very well-known company. as we looked at it, we liked it on the three dimensions that we used to assess companies on a forward looking basis. first there has to be an esg rationale for owning the company and that's based on the material, environmental issues we identify. secondly there has to be substantial return potential and then thirdly we have to like the competitive dynamics within the industry and competitive positioning of the company and this is one that really meets that criteria. the big surprise here was that this is a company that really operates at a highly technical space. however, they have outstanding diversity statistics, and they also disclose them

>> guest: at cta with hundreds of companies, about 1500 companies that are in north american companieshat in the tech space, every major company you can imagine, most of the car companies, big platform companies but as well as companies that are smaller, retailers, best buy, walmart, others, airbnb, companies like that that have new innovative business models, , getting tech out to consumers but no company invites more than 1% of our revenue and 80% of her companies are smaller businesses and we have a lot of startups as well. >> host: as a paid cheerleader for the technology industry do you take policy position? >> guest: yes, indeed we do. we do lots of major things, we produce a fence to get people together. we to public policy positions advocating for innovation that is our primary thing we do in washington and state legislatures. it's not like we're protecting any one company but we do want innovation to occur because we are passionate innovation helps our fundamental problems for mankind, get people together, provide that health care, education. anything else like that and what w

company in new ways.seeing continuous market program for companies that might be thinking of going public for direct listing, all of which the private companies are getting more engaged in. before they were happening behind the scenes and now private companies are saying let's create a fair and high integrity and efficient way to allow that liquidity to occur. >> in terms of going public, you've got to read listings and ipos. the first half of the year was amazing in terms of all that. what is your pipeline look like and where is the interest right now? >> the pipeline for companies looking to tap the public markets is a strong as it was six months ago, if not stronger. companies are looking at the opportunity to continue to grow and expand their businesses and raise capital in the public market context. i would say that we've raised one hundred $11 billion on nasdaq for companies that came to nasdaq in the first half of this year, but still the number of companies on file to go public is as high as it ha

that sent shares of ed-tech companies plummeting. china listed companies in the u.s.re seeing back-to-back losses. bloomberg's shery ahn is joining us with more. the biggest back-to-back losses in a decade for these companies. shery: since 2008. we are now seeing beijing get into the market, whether on beijing, the crypto markets, even profit management companies under the gun at this point. this is the biggest two-day drop since 2008. it is sort of a tale of two tech trades at the moment. you are seeing the chart, showing the onshore chinex gaining. the nasdaq golden dragon index down in the double digits. when it comes to those education stocks, analysts have been slashing profit forecasts. companies like tal could worsen -- the operating losses could just worsen from here. the cost cuts one keep pace with revenue decline. some of the largest investors like cathie wood have gotten out of the market but traders have been piling into these stocks. emily: meantime, the crypto crackdown. the interview you did with the founder of ballet. you mentioned some new regulatory

that the tech companies have taken on their platform. it is interesting to see such a different aspect of the political spectrum coming together for different reasons. >> i agree with everything that catherine just said, one thing i would add, a turning point for congressman buck was when the committee in january 2020, it must've been that was when there could be hearings, they held a field hearing in colorado, where they brought in small businesses, including some from that state. he is from colorado. it was a turning point for him, hearing from small businesses talking about competing against these larger companies. i think that message resonated with him, for them to say what we what a fair shake here and we are not getting it. i think that is leading to some of his >> motivations and supporting that legislation as a republican wind to help small businesses. >> one thing we haven't discussed yet with bipartisan support that macy legislation is privacy. john, where are we on privacy? >> privacy is an interesting one. i mentioned earlie

and suddenly richard branson is overseeing a company, his first, sort of, company that started really, and it's building spaceships. and so, today was a vindication. now, the next question is whether he will be able to turn this into a viable business, but we'll let him have his day of massive success. >> sreenivasan: this success is on the back of a lot of hardship. they've lost people. there's a reason this is called exploration and rocket science. >> you know, in 2007 there were three engineers that were killed in a propulsion accident out in mojave, california. in 2014, there was this crash. in 2019, their second space flight, they nearly lost the vehicle. and when they landed and they wheeled the spaceship into the hangar, the test pilots and the engineers were, sort of, all looking at each other and asking themselves, ke, we very well could have killed two pilots and one engineer, and they didn't. and so, yeah, the costs are real. anrichard branson's life right there was in the hands of two test pilots. >> sreenivasan: speaking of that, you have this very different model. it not

that puts the companies on notice? it changes -- that puts the companies on notice.at: it is going to take some time to enact many of these initiatives that were recommended. if you look at the recommendations made to the fcc around internet service providers and creating more competition for broadband, the commission has a deadlock. while that is still the case, it is going to be difficult to move on some of these recommendations from the biden administration. we also see antitrust in the federal government head of the antitrust vision at the doj is not in place -- we have biden thinking about these issues. he ran as a moderate candidate, a lot of these are progressive ideas. about tech and addressing competition. it might require some novel vacancies in the federal government. john: the nomination side of this is fascinating. one piece that makes executive order a bit of a paper tiger, it has aggressive record about what he wants to accomplish. you see across the board that the biden administration is not killing -- feeling key slots. that is a big thing in regards

>> well, our analysis indicates we look at different companies, shell companies. they are going to be lot more coming next year. people pull back. at this level, we're talking about 30% or 40% rate of return. nobody can hold back in this kind of environment. as long as you have prices above $70, the profits are huge. that's what you will see coming next year. more prices means more trouble for opec. they know it. they feel very convinced that high oil prices is bad for them. rishaad: mr. fesharaki, a pleasure for joining us. coming up, the a realistic opportunity, we'll be hearing from hicks, romi yamaji. next, this is bloomberg. shery: the chinese fund will take nearly $17 million stake. the retail arm of the billionaire empire. the fund is led by the asset management committee and the provincial government. after the transaction, none of the major holders will have a controlling stake. they raised $14 billion hong kong dollars. it sold 85 million shares, they are the latest u.s. trading firms selling shares in hong kong. rishaad: china's watchdog that didi will

these companies didn't exist, right, 30 plus years ago look at the sales of those companies and looksales of a few industries. restaurants, airlines, what else did i use? trucking and medical devices apple, $347 billion in sales over the last 12 months, more than the entire medical device industry way more than the other three combined and you are talking about big companies in health care like abbott, med tropic, thermo-fisher apple is bigger than all of the industry together they need to have market capitalization that reflect what they are producing on the top line and their net income is enormous yeah, we like facebook, google is the largest position. the market recognized how well it's done this year up 50 plus percent. as anastasia you have to be in the players if you want to be in the market >> it's the numbers like the chart and revenue numbers, why people are looking past or look through the growth numbers out of maus and daus appear look at the bigger picture weiss, it sounds to me, you seem you're in such a great mood today you are looking to sell facebook positions >> he

>> we have hundreds of companies, about 1500 companies, north american companies in the tech space.very major company you can imagine. most of the car companies, big platform companies, as well as companies that are smaller, retailers -- asked by, walmart and others. airbnb, lyft. companies that have an innovative is this models. no company has the right to more than 1% of our revenue and 80% of our companies are small businesses and we have a lot of startups as well. host: as a paid cheerleader for the technology industry, do you take policy positions? >> indeed we do. we do a lot of major things, we produce events to get people together, we advocate for innovation, that is our primary thing we do in washington and state legislatures. we are not protecting anyone company. but we want innovation to occur because we are passionate that innovation will solve the problems for mankind, we can provide better health care, education. what we don't do is ask the government for money for our own industry. the federal debt is a major problem, it will affect our kids and grandkids in a horribl

we think about the financial health of the company. can this company run? did they have a lot of debt or are they able -- can they use the cash to cover their responsibilities? then you start to think about other considerations such as the broader marketplace and how we can step up in a world that's challenged. if you remember was also very little information rate that is how it's changed i would safer make broader strategic role too much more tactical role. that to me as part and partial being a good board member. >> absolutely pretty right how many people think the buck stops with the ceo. but in fact they're all these risks board members to take on given new strategy or on the company and operations. not having to short-term thinking. a big part of board members role, as you write to ceo succession. and we know now that ceos were the most expected and expanded quite a bit. can you tell us a little bit about how you've been involved in ceo succession in the past and are there different questions you are asking these days that fit into what is expected of

david: the company was under -- you joined the company in 1958? >> yes.avid: the company has under one winged dollars in revenue? >> yes, $800,000. david: what was your job? did you say to your mother and father i would like to be ceo? cfo? what was the job you actually had? >> my job description was a son. david: i always wondered when you are in business with your parents do you call your boss mom or do you call her estee? >> i would call her mom. i would always address her in front of other people as misses --mrs. lauder out of respect and it worked well. they had trust in me from way back. they said anything littered want to do he can do. david: so your job was basically everything that your mother and father did not want to do and your mother became the symbol of the company really the face of the company? >> yeah. she did everything. my father did everything. i was the one who sort of brought it together and my vision was make her famous. everything that i could do to make her famous was a step in the right direction and she became world-famous beca

you also have the rise of a company like the honest company, that has been quite successful in the dn products on amazon is it obvious that they're bad for consumers or they stifle innovation you have the rise of shopify as well, and you know, the direct to consumer ecosystem that has thrived over the last few years. >> yeah, and there is an open -- it is a great question there is an open question here of would this stuff have happened anyway or is -- in that context amazon just kind of capture and control over a large chunk of it or did amazon develop it i think it is clear that this stuff would have happened anyway and the other point here, and this is what karl racine in d.c., he has an antitrust suit against amazon, showing amazon forces entities that want to sell through amazon to raise their prices where they're not selling through amazon so that's one of the reasons why it looks like prices are low on amazon not because everything -- the prices are as low as they could be it is that if you need to sell through amazon and everybody wants to get to consumers sells through amazon

from about 1500 companies in north american companies in the tech space, every major company who cangine, the big platform companies as well as companies smaller retailers, walmart and others, anyone airbnb, lyft and companies like that new and innovative business but no property with revenue and 80% of companies of small businesses and we have a lot of startups as well. >> the technology industry, if you take policy position? >> indeed we do, we do lots of major things and produce offense to get people together into public policy advocating for innovation from our primary think we do in washington and state legislatures. it's not like we are protecting any one company but we do want innovation to occur, who are people who are passionate, innovation. other to get people together, everything else we don't ask the government for money, we feel that is a major problem on our kids and grandkids in a horrible way and want to do everything we can and make sure we increase and we don't want to ask for money ourselves. >> to help us explore policy position. >> gary, it's great to see her. i

we have 15 companies present.eet over 800 investors that signed up. to make connections to help them raise money for future rounds and to keep their businesses going. caroline: multicultural founders, female founders, what sort of investors are they across-the-board? >> yes, they are fully across-the-board. we usually seeing media, enterprise, fintech, health care. you really start to see the founders of color and women who have wonderful ideas that are beginning to open up the pipeline. caroline: where did they say they feel the barriers are? many will come on the show and others and talk about lack of initial money. where do you find the difficulty is for them, in terms of mentoring that they need here and now? >> you basically hit it on the head. obviously, the capital is one of the main barriers to entry. a big barrier that receipt with these companies is access. that is where morgan stanley shines. in up relationship oriented business, we are able to provide those relationships to potential investors and pote

is it a gig economy zmoe is it a software company is it an advertising company how do you view it >>many parallels what i've done at facebook where we started, you know, we started with a very -- very early in scale and incredibly fast because of advertisers and as a result of it we saw the emergence of a lot of new companies built on top of facebook ads and i'm seeing the same thing really happening with instacart business with not only existing food companies are reaching new customers but i see new food companies with the potential to recreate because we have now allowed them to reach customers right as they are building their cart which is kind of the holy grail in advertising. so incredibly bullish on this part of the business in particular and it will make all the other parts even better. >> as an incoming ceo can you make the same assurance to your grocery partners as well that you won't compete with them in the future >> absolutely because fundamentally what consumers want is wider selection. so we see ourselves fundamentally as a partner and an ally to grocers to help them c

every ceo, every executive team at every company right now is trying to figure out what their companyks like moving forward. is it remote is it hybrid and what they're actually doing is rethinking their culture. and rethinking their values how their company works. other than, you have every employee in the world working remotely the past year, trying to figure out not only how or where they work moving forward but why they want to work moving forward. they're rethinking their values as well. this is creating a large idea of a talent reshuffle we call it the great reshuffle it's a good thing. over the next 18 months or so it's going to be uncertain, messy. but over time you're going to see employees and companies coming together in places where values aloan that's better off for the future of work. and for linkedin we sit in the middle of all this we sit in the middle of companies trying to navigate the future of their company looking like we sit in the middle of employees trying to figure out what they want to do in the future what connections they want to make, businesses they want t

these new or mere penny stocks of companies that might never make a dime or older companies where they can crush the short sellers. that's why the news from meme stock amc that adam aaron is being moved to chairman. aaron kept this company alive by selling them stock at inflated prices i am not interested in zero sum situations like amc. i am interested in companies with magnificent sales and earnings like chipotle what happened last night that catapulted this stock, this stock up more than 11% in a single session? takeover upgrades how about culture. culture, that's what happened. this company has an extraordinary culture of customer centric innovation. that's been turbo charged since they hired brian niccol. again, it's in the 1700s now we always hear about these executives who say a crisis is a terrible thing to waste. most of the time they're blowing smoke. not chipotle chipotle delivered when the pandemic hit management recognized they had to use every form of technology everything from the best digital ordering system, bots, making great food. they recognized they could do enough

the company fell another 7% after the company said it removed another the five apps from online storesmply with the chinese order and warned of adverse impacts from that removal. that brings total losses to the company to about 20% since the ipo at the end of june. finally, let's check in on the meme stocks. the originals did not do too hot today. gamestop fell a little today, amc even more, down almost 8% as movie stocks probably slid but, meanwhile, s go to is your new kid on the block. it soared over 100% today. this company used to be a tiny stock but no longer. reddit stock was lit up with engines today, so meme mania is alive and well. emily: retail investors have a new kid in town. meantime, when china yanked ant financial's ipo last fall, it seems largely focused on monopolistic practices, which were positioned as a bid to protect consumer rights and maintain stability. with the recent crackdown on dd, this seems to focus on sensitive data and national security. here to break it down, we have sam sachs, a new america cybersecurity fellow. this is the latest in a series of moves

so do we know which companies were affected? yeah, it's, it's about, as you said, anywhere from $800.00 to $1500.00 companies across the world in sweden for instance, there's a grocery store chain there. they had about $800.00 stores that were effected as a result of it. that's one customer, but with many different stores, according to the company you heard from the ceo right there just a minute ago. he's saying a lot of this is like dental offices, libraries. they are performing i t solutions and he said for a lot of small businesses, so it's different than a lot of these other attacks. typically we see this kind of ransomware attack. you go after one big company, in this case, they went after a software provider. they were able to access an update in that software in order to, to shut down the i t in all these different businesses. and according to reports, there are 2 things happening. this group, we will r e v i l is like our evil. 4 essentially is reaching out specifically to the individual companies, in part as well as to

and prone on these companies. they're ceos are very low profile and they are very much focused on the china market and they co operate. if that's the right word with beijing on these matters, when there's a problem that these companies have with the cyber space administration or the national intelligence system in china, they collaborate quietly behind the scenes and they don't get find they don't get penalized. heavily, as has been the case here, this company dd global was allegedly warned 3 months ago that there would be a problem. and they went ahead nevertheless, with the i p o. and if you go ahead in the face of administrative advice in china to do otherwise, you'll get to pay a price. and that's what we're seeing immediately come out of the government's response today. excellent points to consider here. boom bus. co host, christy i and dean john college of the miami, herbert business school. thank you both for your time. give and finally getting up and bumble is taking a step out of the online world, the wel

alibaba is one i like to own companies where i know the people who run the company, and i have met jack ma long ago alibaba is very cheap. it's going to be there a long time from now. ma has backed off. what xi is doing is regulations, it has to do with nationalizing data and wanting to make sure those companies are not too powerful and he's accomplishing that. i think you're going to see alibaba do somewhat better i think the credit impulse story is real. the pboc is also lowered reserve requirements i think they'll do it again. they do that whenever foreign capital flow is slow so biden's remarks today are going to slow capital flows into china. i would expect that to trigger another move by the central bank >> that's interesting. >> very interesting to me, billy billy and pinduoduo. both of whom are selling at numbers like two, three, four, five times a couple years out earnings and cash flow are very central to what's happening in china in the food business and in online commerce and are deep, deep price trouble in recent weeks. they're very cheap at the moment i own less than i did

for the tech company.whatever the authority tells them to do so. you will expect more intervention from the highest authority. >> you know, just now we are getting flashing out of "the wall street journal" showing bytedance showing regulations after a warning of security. it is the data security issue coming up again. didi allegedly was warned before they decided to go for the ipo and they still went ahead and did it bytedance showing a different view my question is how will this effect the overall pipeline of the chinese companies looking to list in the u.s. is it worth the hassle for them now? >> perhaps not perhaps you will see less chinese companies interested in listed in the u.s. strock exchange the chinese government is interested in keeping money at home and investing in home instead of investing abroad. that is the overall direction. >> i want to take you on a slightly different tack. perhaps they do go hand-in-hand. that is the expectation of the chinese economy evolving from here we get second q

>> caller: i'm talking about the companies themselves. did they coordinate not run a campaign against the president of the united states? they shut him out and said you do not have the right to speak. the first amendment, the first amendment is to protect speech that you disagree with . that's why the first amendment is there and when you say that one side of the country cannot say nothing while we have the right to character assassinate you, your family and your children because of the color of your skin , that's called racism. >> we will move on to another color, independent line. >> good morning. i'm 86 years old, i'm a political junkie and have been watching c-span since 1980 and laws in anycountry including in the united it's , you cannot, the supreme court is behind in technology. even facebook is behind. things are happening so fast the horse is out of the barn. section 230, everything there we need to revisit. they would never have thought of cell phones. first of all we have to pledge allegiance not to the party. to the country.

because of that they have an overdeveloped public company system too many small public companies withould not allow any cup to list without well vetted numbers, period. and that's a change that needs to be made we could see delistings happen because of it. that's why i only want to hold small bits of these companies. i may end up holding hong kong listed shares before this is all done >> john, thank you again with today's declines, didi is an $8 stock. john rutledge, we appreciate your point of view today thank you. >> great to talk with you. >> and while the crackdown in china may be bad for chinese stocks our next guest says it's creating a nirvana setup for faang names and the tech sector. dan, good to have you with us. it's a theory you've had for some time. explain were >> it's more exacerbated from a growth perspective baba, jd and others. now what you've seen with this crackdown that's been much stronger than anyone expected from all angled, it's pushed more of that growth to u.s. tech stocks you have regulatory head winds in the u.s. but nothing compared to china what you're s

caroline: and when you say to think twice, what would you advise those companies, those portfolio companies the small companies who want to build global businesses here? what do you say? edith: think twice means there are a lot of particular compliance and data security laws they will have to comply with. rushing to, if you are getting government warning to do certain things, definitely don't rush to get listed because government can definitely take down your app anytime they want. so, investment is not only about exits, it's really about after going public there being a lot more responsibility that as a public company union -- really need to be responsible for. not necessarily thinking twice about where to live, but making sure you are in compliance regardless before you go public. caroline: a hard lesson to learn of their -- to learn there, at the moment. thank you for your expertise. in time, the facebook ceo doesn't seem concerned about the lawsuit brought by the former president, donald trump. he's in sun valley, idaho, and they declined to comment on the legal action. trump filed thre

company strategy to it.e to see more innovation, they need a head of product management, they need to get the innovation people in the game and give them license to do some things that are not share holdings in other companies. i mean the stock performance is the biggest measure here, i.p.o., 10% and nasdaq up 120%. i do think to really get back to where these other tech companies have grown, they got to do some innovation in house, not the acquisition alone. emily: emil michael, i knew you would tell us what you really thought. i appreciate the honesty, good to have you back here on the show, thank you. coming up, more on didi's big debut from the perspective in china, we're going to head there next with a live report. this is bloomberg. ♪ emily: let's get back to didi's u.s. i.p.o. debut, the chinese ride hailing giant raising over $4 billion on the new york stock exchange, the second biggest i.p.o. in the u.s. for a chinese company ever, all while china is celebrating the 100th anniversary of the china co

video companies inc.is the most important thing and presentation companies think the slides are the most important thing. most important thing is u.s. the unit. it's your face, plus the materials plus your slides. that's what makes for effective committee case and. that's what gives you communication superpowers. we're trying to make something that is a system to make people engaging on video. caroline: how much are you finding demand for this. as we all slowly come back to various offices, our people demanding this as much as they were in mid-2020? >> more so. this is the big change. in mid-2020, we were trying to make the best of a bad situation. that's ok, but it's never fun. now, we can transition from inking about how to survive the pandemic to how to thrive in the world that comes after it. our rule is that you should do in person what is better in person. for example, being in sun valley is better in person. you should do on video what is better on video and there is a lot of stuff. namely, all typ

that was a purpose driven company and sarah has very much made nextdoor a purpose driven company, going building community in a way that other online networks can't. emily: the ceo of nextdoor. i have only 30 seconds left and i am curious what you think about whether silicon valley as we know it is sort of over now that so much more, so many more startups are distributed, people have less silicon valley because of the flexibility that pandemic allowed or do you think people need to be here to produce amazing technology? >> more than anything, it's a culture, a state of mind. i think that culture, the more broadly it spreads, the better it will be. having said that, i don't expect the importance of silicon valley to decline, but i do expect other regions to also go up with this remote work. i think it is generally a good thing for the country and society in general. emily: all right, vinod khosla, thanks so much for joining us. coming up, alexa, how about a new voice? we will find out who amazon has secured to become the new voices of the personal assistant. this is bloomberg. ♪ ♪ emily:

, but also the american companies in china, and i think the major thing for an american company doing business in china is the reasonably level playing field. they'll never be perfectly flat. is it reasonable are you sure you got your intellectual property protection in place and is it worth the investment versus the unpredictability on the risk it is why as i said earlier, for the first time in my career, 40 some years of doing business in china, i'm moving my investments in china to the back burner. easier for a small investor to do that, but it is not a trend you want to see on a larger scale. >> a lot of people and companies doing that recalibration, i imagine. john chambers, thank you. >> thank you very much, guys. >>> talking about ed tech in china, let's talk about ed tech closer to home duolingo, the language learning app, scheduled to ipo this week, just upped the price range from 85 to 95 to 95 to 100. $100 per share would imply valuation of $4.6 billion. it is the top grossing app in education category in google play and apple app stores. plans to list on the nasdaq under t

there are 4700000000 companies in the u. k. we can't explain why a population size need so many companies, the tax authorities only off the tax returns from too many of those companies and half of the the rest say we are not trading. please do not trouble us by asking for a tax return. and then the u. k, we say, yeah, that's all right, we won't ask you for information of the ones that do submitted termination. a significant number say they have no profits and the number of investigations is tiny. so if you want to set up a company somewhere, which is not going to make displeasure, come to the u. k. pay 15 pounds for your company. signed no physical documents to do so, provide no proof of identity, which you would have to do. so in any the recognized fact based in the well form your company that trade for a while and then get rid of it. and literally the company's house in the u. k. will get rid of your company on payment of 10 pounds of declaration that is never traded, whether that is true or not. so this is the place which pr

we are trying to tap on our ecosystem of companies, trying to put companies together.investment in a very large company in the u.s., then we try and put it with a chinese company, company in singapore, southeast asia. the conductivity, i believe, is very important. china gives us plenty of opportunities. kathleen: that is nagi ham --nagi hamiyeh. for more, watch our bloomberg special, red vines on youtube. this is bloomberg. ♪ >> the consumer, house value is up, stock value is up, incomes are up, savings are up, the pandemic is coming to the rearview mirror, and they are ready to go. you see the home crisis, auto purchases, it would be much higher but for supply constraints right now. kathleen: a very upbeat j.p. morgan chase ceo jamie dimon on his bank posting second-quarter revenue, which in his view, shows consumers are emerging from pandemic lockdowns and opportunity is abound. many see things differently, despite jp m and goldman. let's bring in su keenan to explain it to us. wells fargo's security bank analyst was almost upbeat on the banks, where they are, where

food pack was a young company that they spilled a billion dollars on, investing and buying that companythey will keep an open mind on acquisitions. the interesting thing when you come back to aws is, what are they going to do with the application model? when you think of aws in terms of things that they have built themselves, it's mostly at the infrastructure and enabling technologies level. they don't really have a lot of big successes. there are a few small examples within the application layer, and that's where microsoft, google, even salesforce are both competitors, and in some ways collaborators. then you ask the question, is that going to be in area where they partner with companies out there that complement them, like a salesforce, which they just announced a partnership with? or will they have to buy some companies to build up their application stack? caroline: we know any acquisition they do make will be under regulatory scrutiny. i am interested, to finish it off, your knowledge of the characters involved in your knowledge of the culture that has been brought to amazon. how do

jack: coming up a 10 billion-dollar company and 10 billion-dollar company and ♪ ♪ ♪ 10 billion-dollar ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪ hi, i'm debra. i'm from colorado. i've been married to my high school sweetheart for 35 years. i'm a mother of four-- always busy. i was starting to feel a little foggy. just didn't feel like things were as sharp as i knew they once were. i heard about prevagen and then i started taking it about two years now. started noticing things a little sharper, a little clearer. i feel like it's kept me on my game. i'm able to remember things. i'd say give it a try. prevagen. healthier brain. better life. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you. jack: for use online platform vimeo with youtube and netflix but four years ago

that's how other companies died and facebook thrived looking to companies continuing to wow their customers with great services and to continue to show the advertiser and consumer that their dollars and eye balls should be spent on those sites. >> we'll learn about that and thank you for joining us >>> senators are targeting section 230 to fight vaccine lies on social media introducing the new bill that would remove liability shield for companies should they promote false public health and misinformation we have casey newton on. he spoke to mark zuckerberg yesterday but deidre >> he spoke about the medaverse, which raises a whole other slew. if you can't do it in 2 d, you'll get a lot of heat, how do you expect to do it in 3 d also coming up, we have intel ceo pat gelsinger. stay with us it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything

the drug companies. love it because it makes the part of the f d a that evaluate their drugs extremely friendly since they supported it is a blatant conflict of interest. this ought to be well funded and there ought to be no conflicts of interest. i lose i lose the. what's going on here? no house of your very own from a printer. computer games that are healing. my dog needs electricity. she explains, delivers fact and shows what the future whole living and the digital world shifts. in 15 minutes on dw, the 77 percent are calling china new colonialism, pure and simple pins 3 debate. yeah. why is it still a thing in africa and who is to blame the word order was white. people still come back? african probably new legs on somebody, hobbies believe in the 77 percent in 30 minutes on the w o. the sliders are back with africa. most successful radio drama series continues. all episodes are available online course you can share and discuss on the w africa's facebook page. and other social media platforms, crime f

so then if you look at tech companies, most tech companies don't operate that way. and if you look at the most chinese 2nd venus, such as i do seen way, ball and all of those, none of them were profitable when they listed on the us exchanges. so literally, that's one of the biggest reasons america allows for tech companies to actually get capital in order for them to grow and then become profitable. they couldn't even list and trying to, regardless the market share or but possible potential. and then other reasons for companies like ali baba who actually were profitable, but still chose to list on the us exchange anyway, that was also due to the differences between the chinese and the u. s. exchanges in the u. s. offers voting powers that are beyond their share. so founders and management team, they can actually still keep control of the company even with less than majority shares. and that is just simply not possible in china. so that was very important for ali baba to actually maintain control of the company. and then just to put it very simply, the listing in the

you really, these drug companies are going after the spend from the insurance companies.ncreasing the amount of money that you are receiving. one of the things that we need to do is we understand that the system is broken, everything from the drug companies to the insurance companies to, now, the patient assistant programs that all jack up the price of pharmaceutical drug prices in this country. with that, i yield back. >> [inaudible] yields back. i thank him for his statement. but before we close, i would like to offer the ranking member an opportunity for any closing remarks. ranking member company, you are recognized. >> thank you madam chair. i just want to be very clear what the republican position is. we strongly support a pattern system that encourages innovation. however, we certainly don't want to see a pattern system that is abused. and there are always going to be bad actors, and those bad actors need, to be held accountable. but to be completely candid about this conversation, and the democrat proposal that has been mentioned several times tonight, the biden a

companies but also foreign companies and tax revenue as these internet companies do business overseasff the burner the idea of the sanctions for. the trump administration had threatened tariffs on european countries if european countries went ahead on a tax. it looks like this will take that off the front burner, take that off the stove. guy: janet yellen will be in europe next friday. hopefully we get more detail as to exactly will be happening. we appreciate the context. bloomberg's michael mckee. also details from the opec meeting. the j mmc has some recommendations for gradual oil output increase, talking about 400,000 barrels a day. that will take place on a sequential monthly basis from august through september, and they're recommending extending the deal to the end of 2022. the market was looking for more, looking for around 550. we did not get that. we only got 400. taylor: and pivot to some of those oil conversations to any sg conversations. activist investor engine number one to promote activism. the ceo joins us next. this is bloomberg. ♪ ritika: coming up, ellen wald, atla

the financial health of the company, can this company run , do they have a lot of debt to cover their, you use their cash flow to cover their responsibilities. then you start to think about other considerations such as the broader marketplace and how we can step in the world that can be challenged if you remember was also with very little information so that's how it changed i say from runners to people to a more tactical role and that to me is part and parcel of being a board member. >> absolutely and you write about how many people you about socks with the ceo but there are always risks that board members take on strategy around the company operations and not having just short-term thinking. part of board members role is ceo succession and we know now ceos roles have expanded quite a bit. can you tell us about how you've been involved and your succession in the past and is there a different question you're asking these days that fit into what's expected of business leadership ? >> the truth is that i think it's important that we all understand that in a sense, corporations are livin

his company had to close down.s my mother had always had ambitions to be an address or to make people beautiful -- actress or to make people beautiful. she was always combing her girlfriends hair and making them look pretty. she loved doing that and that became her vocation. dave: when you're talking about your youth, you do it in great detail. how can somebody remember things that happened 80 years ago? how do you do that? mr. lauder: it is easy to remember 80 years ago -- easier than what i had for lunch today. dave: i understand that phenomenon. your mother is interested in beautifying people but i guess everybody does. what is it she did that got her started in the cosmetics world? mr. lauder: she started to sell the products that her uncle had made. he was an exhibition. she decided she can do better and started making them in the kitchen. i as a little kid in my highchair would watch her make the crease on the kitchen stove. as time went on she would invite people to the house to do makeups and i would come h

don't think -- i think it's a unique company there is not a lot of companies with our growth profilencial services so it's certainly a different, a unique opportunity and a unique business that we are building. >> five years from now, what does this company look like? >> five years from now we want robinhood to be the most trusted and most culturally relevant money app worldwide. so not just investing. we are already going beyond investing. not just in the u.s., as well. >> we wish you a lot of luck congratulations on a milestone day for you, and we hope to see you again very, very soon. >> thank you, sir. good to be here. >> good to see you in person, no less, after all that time. carl, back to you. >> thank you very much with vladimir duthiers robinhood at $38, indicated to open at $41. a lot in there that line we like to be conservative. >> yes, i think vladimir duthiers has changed. tenev has changed. emphasizing safety that's what you have to do talking about education, trying to get people to understand the broader portfolio of what they have as a product. all great. what i was

and a different direction, now vimeo is a 10 million-dollar company and gives companies the tools to high-quality video on their own last month a copy went public vimeo joined me now anjali sud i really appreciate it. it's an incubator that hatched max expedia what was it like growing a business and the environment. >> were the 11th company to come out of iac, there's a clear playbook that they've done very well which is identifying a large market opportunity where others aren't focused putting a lot of attention, capital in the long term view on how you could disrupt the market and vimeo is a realization for that in the world of video software, i think we greatly benefited from the experience of iac and also ready to be independent and on our own and were thrilled to be in the position that we are today. jack: actually doesn't seemed like it's a new era you have adobe to zoom, how is vimeo different. >> we think of ourselves as enabling every business, every team, every organization in the world to use professional quality video the same way that they used tax or images or e-mail or

we are a private company, i am not an employee of the company.roblem with stock twits, take it up with the community and i will happily help you there. we are here to talk about robinhood. i am not sure of the question. amanda: i was not accusing you personally, but there was a fraud perpetrated on the other users of stocktwits. that person misrepresenting me was quick to take it down when i called them out. without trying to say is that there is the potential for fraudulent behaviors, speculative trading, exposure to risk that may go beyond the education level of the people involved. one possible answer is don't be patronizing, this is wall street thinking that only the girl guys can do it. on the other hand, there is some middle ground where people can get hurt. i am asking if you think the industry has matured enough to make sure the protections are in place? howard: there is no way on the internet, in real-time, to protect everybody. i do not know what planet everybody is living on, but we are here to talk about the power of these incredible

gonzalez your company gives donations to this company?rector of patient access program. this is exhibit 27 in your package. >> in this email mr. cline is seeking a donation from your company, to help offset the cost of the drug he mira. he wrote quote, we also know these patients would be much more likely to start and state on treatment if they were not stymied by high out of pocket costs. mr. cline is essentially saying, by making a donation to his foundation at the will be able to attract and retain more humane era patience. our donations mr. gonzales, our donations to patient assistant foundations is a part of your strategy to increase sales? >> no they are not. we do it as a donation because we feel it's appropriate, we do it by disease state and the foundation is not required to use our drug. >> thank you thank you so much. >> mr. gonzales i would like to switch gears. i understand that abbvie co-promotes your cancer drug imbruvica with jansen pharmaceuticals. so that means your company market the sales and marketing strategy for the

this is bloomberg. ♪ caroline: companies like coinbase, kraken and others some of the companies in thepto space. for more undefined, crypto pricing and regulation, we are joined by the blockchain capital founder. tell us about the new find. institutional money is coming and it is sat on the sidelines. at one point is it going to come in? get everyone excited about at least the prices of certain assets? spencer: there is a lot of institutional participation in the market. we are seeing that with our find. we have several strategic partners, but you are also seeing it broadly across the industry in terms of allocations to crypto assets. a lot of that is backed up by data on chainsgéi. caroline: are people coming into your find because they want access to de-fi, to certain protocols, maybe they don't have time to do due diligence? ? spencer: it varies a little bit depending on the lp in our find. on a high level, they are looking for exposure. i believe there is something here, i believe there is upside potential but i don't have the time to dedicate 15 people, so, blockchain capital, why