again, we haven't heard the response from chamath palihapitiya or more of a response from clover, which took on a great number of issues that were brought up but, you know, just the idea that chamath was given a big part of this go ahead >> no, all i was going to say is it is a -- this document is long they do respond to virtually every accusation. >> every point >> in it, you have to decide as a reader. >> it is point by point. it goes point by point it will take you -- they run it on medium, and they actually tell you it takes 18 minutes to read it's not a short statement this is a very lengthy response. but as a reader, and as an investor, i think you have to go through it and decide wlhether you think the answers are acceptable kw when i say acceptable, they are forthcoming as they acknowledge the investigation,s, you have to decide whether that's okay, and that's the distinction here. >> there were a lot of charges in the hindenburg report on every level from up coding, whether they're doing things like that, you know, and even just what chamath's role was in all of this. how much

taylor: chamath palihapitiya in our exclusive interview.an watch more that conversation all weekend. there's nothing else to do it. . stay home to watch us of the -- watch us. we bring you more news in the spac attacks. filing for an ipo. acquisition number two, that spac looking to raise $400 million. the spac attack craze continues. continue -- a conversation with -- an important conversation. we do that next. this is bloomberg. ♪ taylor: calls for racial and gender equality have reached boardrooms from wall street to silicon valley. one organization is teaming up with some of the leading firms and d.c. to build a network and fill board seats with the best talent. joining us is pam kosta, the all raise ceo. talk to us about how much easier this initiative has become, even the heightened focus on this issue. >> there has been a great drumbeat in interest and movement for diversifying the board room. it started with goldman sachs ceo pushing for changes in terms of the types of companies they would take public because they saw the economic

social capital founder chamath palihapitiya had been making headlines as a superhero. terview, he shared his thoughts on the bitcoin frenzy with erik schatzker. chamath: i cannot take all the credit. my friends and i, we have a group chat. we were talking about random things for the summer, when the pandemic eases. one of my friends was the one who said it. it kind of set off a light bulb and i rode it and published it. it is very tongue-in-cheek. i did another one, when bitcoin gets to 100,000, i will by goldman sachs and rename it chamath sachs. these are all jokes, part of my personality. i never thought i would be here. i am enjoying the ride. every minute of this feels like a dream. erik: i admire yourself for not taking yourself too seriously. but the bitcoin thing is very serious. you cannot buy the hamptons yet, not goldman sachs yet, but -- chamath: can i tell you something that is so important about bitcoin? it just shows the fragility of the traditional financial model. if you look at the quantity and supply of the sample, the question people should be asking

>>as well as billionaire venture capitalist chamath palihapitiya as for the current governor, the undecideds are key people know who gavin newsome is 19% are saying they're not sure how they would vote on a recall election. >>if not if it were held today and i think it's really voters saying well i got to wait and see how things unfold here with that with the pandemic. >>well as nancy loo reporting for us this morning recall efforts are hardly new in our state every california governor since ronald reagan has faced one, gray davis as you just heard was the only one to actually be successfully recalled which ultimately brought arnold schwarzenegger into office for those of you who remember we'll take a break for 22, we'll be right back. >>back at 4.25 president biden delivered on a campaign promise by signing executive orders that reversed the immigration policies of the trump administration. he did it yesterday and one of the orders creates a task force now that seeks to reunite parents who were separated from their children at the border. another ends in 2018 0 tolerance policy on prosecuti

we spoke to chamath palihapitiya who said this is democratizing spac's. amath: i think spac's are here to stay. using the language of inequality, it evens the playing field. it democratizing by allowing retail and small-scale institutional investors, folks who may not necessarily have been tier one hedge funds, now they can also play. dani: of course, there has been criticism too. when you and i were talking to bridge point, he said perhaps this indicates we are at the top of the market. you can take either side. maybe this is great, it gets people involved in m&a or it is dangerous if you get people who are not used to this launching spac's. francine: dani burger with the latest on spac's. we will have a conversation with jean pierre mustier coming up and talk about his time at unicredit and spac's. we will speak to paolo gentiloni . ib directly if you have questions for our great guests. this is bloomberg. ♪ francine: economics, policy, finance. this is "bloomberg surveillance ." i'm francine lacqua in london. the topic of the recovery will be on the age

the social capital founder chamath palihapitiya, sharing his views with erik schatzker on bitcoin.aking a breather this morning. earlier, closing in on the $50,000 mark after receiving the banking and finance industry warm hug. eddie, listening to our guest, he said the run-up in bitcoin is more a reflection of the fragility of the financial system than it is an eating else. does that make sense to you? do you think that is a strand of thought you can buy into? eddie: it absolutely is. if you look at the earlier adopters in the cryptocurrency space, there is a lot of people that were worried about money printing in the wake of even back in 2008 and the birth of negative interest rates, and the point he makes about the challenge from bitcoin to gold is a valid one because when you look at the adopters in the u.s. in particular, the sorts of people that were buying gold coins that were worried about the federal reserve not running the economy right where the sorts of people worried, that used to be gold in business and moved to bitcoin. the subset in the market has already been lost.

>>as well as billionaire venture capitalist chamath palihapitiya as for the current governor, the undecideds key people know who gavin newsome is 19% are saying they're not sure how they would vote on a recall election. >>if not if it were held today and i think it's really voters saying well i got to wait and see how things unfold here with that with the pandemic. >>that was nancy loo reporting for us this morning recall efforts are hardly new in california every governor since ronald reagan has faced one, gray davis as you heard the story was actually the first time it was successful and that ultimately brought arnold schwarzenegger tunnel into office the last time california had a republican governor. >>it's 6.42 coming up on the kron 4 morning news, lawmakers and president biden are paying their respects to the u.s. capitol police officer who died in the riots will have a live report from washington. colgate optic white renewal removes ten years of yellow stains. that's like all the way back to 2010. they're jeans. they're leggings. they're jeggings! whoa. remove ten years of yellow stai

>>as well as billionaire venture capitalist chamath palihapitiya as for the current governor, the undecideds are key people know who gavin newsome is 19% are saying they're not sure how they would vote on a recall election. >>if not if it were held today and i think it's really voters saying well i got to wait and see how things unfold here with that with the pandemic. >>again now is nancy loo reporting for us tonight recall efforts are hardly new in our state every california governor since ronald reagan has faced one, gray davis as was mentioned was the only one who was recalled were the effort was successful which ultimately brought in arnold schwarzenegger to office. >>turning now to national news we're taking a live look at the u.s. capitol building today house democrats filed an impeachment briefs claiming that former president trump aimed a mob of his supporters quote like a loaded cannon at the u.s. capitol the legal brief links, the former president's efforts to overturn the election to the deadly january 6 insurrertion it claims that trump bears unmistakable blame for what happened

of these questions in large part because last week there was the news around clover, with chamath palihapitiyaet disclosed through the spac i'm curious, do you think the idea of forward looking projections in the context of a spac, should those kinds of things be aligned? the fiduciary duty rules which don't necessarily exist in a spac my understanding, mark, you can speak to this differently, the sponsor actually doesn't have a fiduciary duty to the despacced investor group, for example. i've never been a big fan of fairness opinions because i think they're theater. there's no independent outside somebody saying this actually is a fair deal for everybody. >> it's an interesting point i will tell you, we have closed five business combinations and i believe we're one of the only spac sponsors out there whose boards require an independent third party fairness opinion before approving any transaction. we've done it in every single deal and we'll do it in every single deal going forward. look, i don't think there's any better way to show your belief and conviction and to gain alignment of interest

anna: that was social capital founder chamath palihapitiya in our exclusive bloomberg front row interviewerg television. up next, the greek prime minister. that conversation at 3:30 london time. 10:30 in new york. european equity -- ♪ ♪ >> new york, markets are closed president's day holiday. welcome "bloomberg markets." quick data check, reflation trade is on. european stocks, the curve is steepening up in the u.k. euro-dollar back. equity markets relatively quiet. wti back above $60 a barrel. let's dive deeper into the story. let's figure out where the reflation trade is going and where we are now. >> it is remarkable that on a quiet day given the u.s. is off-line, markets are defaulting to more reflationary bends. you get things like global equities in general doing well. the question is, or rates leading equities off a cliff if they continue to rally off of this story? in europe, stoxx 600 up. 10 year bond futures up a quarter of a percent. the key is yes, a big part of this story is the u.s. is stimulus and growth, but it is global. you pointed out the u.k. curve, in germany, 30 year

investment, it's unclear to me why you would necessarily trade the bitcoins now for a car chamath palihapitiya was on twitter yesterday showing off a piece of real estate that he traded at the time for what he thought was $1.6 million of bitcoin but in fact today it's something on the order, the piece of property he bought for $1.6 million, he effectively gave away $128 million with the bitcoin. i'm unclear why people would actually use this to buy their car tomorrow >> tesla is the not the first company to announce they are going to take payments in bitcoin. i think we have seen this quite a bit certainly over the last seven, eight years that i have been involved in the ecosystem, and really for most companies, it's opening up yet another avenue for additional customers or additional ways for people to pay them how successful or, you know, what percentage of tesla sales will come in through bitcoin obviously remains to be seen. >> okay. so i'm less bullish on that component part what seems more interesting to me is the idea that the treasuries of major corporations are going to start buying b

people are very big fans of palihapitiya on the forums i haven't seen much dialogue on this stock in the forums in recent days but there is definitely a fan base for chamathmong the people who comment on the wall street bets. >> mike, i wonder if this criticism and spotlight on due diligence puts a little bit of a dent in the spac mania i don't want to call it a bubble, but if it is, starts to poke holes in it >> 350 of these have come out in the last year. the way the deals are consummated and brought out the to the world is completely from the company's opinion of view. there is an investor deck that's put out there. it is not the same as going out on a road show with ipo and all the things involved will be the. i think there is an afterthe fact scrutiny that has to happen or is happening to some of the companies just to see if you were promised more than there really is when the deal is done. >>> let's hit canopy growth. share under pressure after being downgraded by piper sandler. frank? >> canopy down 2.5% right now following the downgrade from pipe e the company saying the fundamentals just do not support current valuations piper adds, canopy enteri