reporter: e-commerce was really strong. 2020 was the year of e-commerce. growth rates were stellar and are expected to go up nicely into the first quarter. the hesitation that i have moving into 2020 really what happens when there is this 40% growth rate beginning in q2, and we expect growth will slow on the e-commerce side by comparison, but in the long haul, there is still plenty of room for amazon to take share in the digital world. in the u.s. alone. amazon is more highly penetrated than internationally. we tail sales still less than 20% of total retail sales, even during covid, which is small, and the opportunity for the delivery over time still exists. shery: we talked to a guest earlier today, a ceo who mentioned that some of the vendors on amazon were actually chinese factories and that, perhaps, they were too exposed to the china factor. what do you make for the comments that perhaps amazon is trying to squeeze out alibaba? reporter: amazon has been known to go after a business to sees the potential there. so amazon -- two sees -- to take the pote

that is e-commerce you have been recommending an e-commerce etf that saxo bank has. so far the performance year-to-date is pretty impressive, up almost 15%. do you worry about the potential for higher taxes in that space going forward and over the weekend here in the uk there's been a lot of discussion about the potential to introduce a so-called amazon tax or an online sales tax for e-commerce retailers. >> yes i think the big established e-commerce companies, amazon and the likes, will increasingly get regulatory scrutiny, so to speak. i think we're moving into the next phase of e-commerce, which has basically gone through, you know, a 15, 20-year very successful period, which interestingly enough goes back to reflationary because i think the success of e-commerce and digitalization and underinvestment in the physical world. coming back to the e-commerce basket in which we have credit ourselves and the etf is a good way to get exposure to this, we think there's plenty of growth in e-commerce over the next 15, 20 years in the developed world, we have reached pretty

hear the story from secretary of commerce himself.able sinclair weeks, secretary of commerce of the united states. >> in the department of commerce we are constantly alerted to the trend that means a healthier national economy. better business for the nation as a whole. recently we have been interested in an arriving young market. one that represents a huge potential for goods and services. i'm referring to the new negro market. that tremendous buying power of this group is actually caused by an increased earning power. the average negro families income is at a record high. in fact, since 1939 it has increased more than the average income of all other americans. just take a look at a few figures. an official department of commerce report shows that at least one third of the negro's living in cities earn from two to 5000 dollars a year. today the average nikkhah wage earner brings home a pay tab lighter than the one he collected in 1939. as a whole, the negro market has a total income of about 15 billion dollars every year and that tax

we had commerce bank.he top line from commerce bank is all about what kind of a hit they are taking in terms of the pandemic. they see positive operating so they are casting their net forward. they will have an operating profit and positive operating results for this year. fourth quarter was lighter than the market anticipated. on the operational side of the business, coming in a bit lighter than expected. they are expecting a possible $3 billion in dividends and buybacks. 2023 and 2024 so that is critical to them. annmarie: i guess seeing that positive operating results for 2021, a lot of these banks are trying to put the pandemic behind them. we are going to have much more coming up, including the banking space. read energy remaining a hot topic for 2021. we will hear from the ceo of gm about the automakers push into ev's, coming up next. this is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer,

the energy and commerce provisions failed to provide the targeted and timely relief. although the managers amendment does take out some of the extraneous provisions republicans raised concerns about during the committee. unfortunately, though, it's still not timely. according to cbo, of the over 120 billion spent in this title, only a little under 27 and a half billion will go out the door in the next 7 1/2 months. it includes partisan priorities such as funding for planned parenthood when there's no funding for the provider relief fund. it includes funding for historically bipartisan priorities but the money still won't go out the door quickly enough. community and mental health mobile crisis units, only 16 states have programs leaving the majority of the states unhelped by this provision in the short term. it includes bipartisan priorities that can and should be considered through regular order to address any potential unintended consequences and allow for permanent policy. there's an option for states to cover maternity care. but instead of the permanent policy tha

our model. at e-commerce, stores are not our model. ,, ., , at e-commerce, stores are not our model,, ., , at e-commerce, stores are not our model. ,, ., ., ., , . , model. stores are already closed but now they will — model. stores are already closed but now they will never _ model. stores are already closed but now they will never reopen. - model. stores are already closed but now they will never reopen. 71 - model. stores are already closed but now they will never reopen. 71 left, | now they will never reopen. 71 left, some 2500 job set to go. for many shoppers it's the end of an era. going to topshop was a rite of passage for my generation, you could go shopping on your own, you went to topshop and it was the whole experience, walking through the doors, the store, the music, it was a cool place to go and very much part of my childhood. it a cool place to go and very much part of my childhood.— a cool place to go and very much part of my childhood. it also spells the end of sir— part of my childhood. it also spells the end of sir philip _ part of my childhood. it also spells the e

yeah we miss our a former governor already she's going to be a great commerce secretary and she made that very point in her confirmation hearings there is work to be done in all of this brian kane smart power dot org you were the very 1st guest on my very 1st show and i appreciate you coming back for more take care of a lot coming up 3 in 4 children now in primary school will spend their careers in jobs that don't exist today what's the outlook for your gig this is the big picture on our 2 year america. i might. show somebody an accident where a car goes through a field sign at the intersection. suggested the witness said they saw a stop sign stead of the yield sign. in these experiments many will adopt the suggestion we call it misinformation. claim as their own memory. the ruling class is rarely freo much but when it comes to china it is agreed the us needs to soto get tough with beijing which is a really neat engaging china well trying to contain it is that even possible combined ministration will eventually have to answer this question. join me every thursday on the alex salmond

short video, livestreaming and e-commerce promotion and e-commerce spending.reat little company. not so little. a great company and one that we are tracking and will be advising our clients on prior to the ipo. i think it is another example of the innovation coming out of china and how to monetize consumer behaviors and i think there is more of these types of unique opportunities in china going forward. shery: joseph berger, thank you for your time. let's not get to karina mitchell with the first word headlines. karina: the european union is calling on the new u.s. administration to suspend tit-for-tat tariffs on trade in aircraft and metals. brussels wants joe biden to remove duties on european steel, aluminum and aircraft, singling it will end its actions in return. the levees on boeing and airbus have been authorized by the wto as a result of a legal subsidy by both sides. president trump will file his initial defense against impeachment leader in washington with a new legal team appointed at the last minute. the lineup changed after the original lawyers qu

in here is the secretary of commerce of the united states. >> and the department of commerce, we arestantly alerted to trends that mean a healthier national economy. better business for the nation as a whole. recently, we have been interested in the rising young market, one that represents a huge potential for goods and services. i am referring to the new negro market. a tremendous buying power. this group is backed by an increase earning power. the average negro family income is at a record high. since 1939, it has increased more than the average income of all other american. but take a look at a few figures. and official report shows that at least one third of the negroes living in cities earn between $2000 and $5,000 a year. that means the average wage earner ring some a paycheck four times larger than the one he collected in 1939. as a whole, the market has a total income of about $15 billion every year. after taxes, negro families have many billions of dollars to spend. here is a buying power that cannot help but have a tremendous effect on our national economy, and on business

we are looking at our e-commerce plans.are very optimistic about continuing to see our e-commerce ratchet up in an extremely strong way. >> you have about 300 stores in the chinese market. are you looking to expand that store footprint this year? yann: we are confident about the future of china. the middle class -- we believe [indiscernible] what we are looking at in detail is we know a lot of our business comes from tier 3 cities. we will see where the customer is. paul: are you looking to expand your digital presence this year? yann: we are very ambitious about our digital and e-commerce strategy. we are not afraid to be one of the first brands trying new platforms. we had a store for quite a while. we are the first brand in this category. we will continue to look. we believe social media and social e-commerce are something that are very promising. >> would there be a material impact on the business if tariffs were cut? yann: we are listening to the conversations. there is a new administration. in washington. we will be v

-- now, commerce is interesting because commerce need akamai's services more than ever but commerce are helping customers in the affected verticals, help them weather this storm. and return for the long-term relationship >> you took a charge of just over $26 million in the most recent quarter for restructuring. i read through the parts in the relief that detailed the restructuring, why you're doing it what you're moving around about three times. and i have to admit, i still don't fully understand it. why are you doing it it sounds like a lot of people already there leading things have been promoted to new jobs, doing these things? why is it costing $26.8 million for that restructuring? >> well, there was a reduction in force as part of it, and that results in the restructuring charge about 2% of the roles in the company. now unbalanced, akamai is growing. we added net last year about 600 positions and we'll net this year at several hundred positions more what you're seeing is, you know, increased investment in areas like innovation, new product development, security, serverless comp

so what is the chamber of commerce doing?r of the house of representatives, newt gingrich, best selling author, great american. newt, great to have you with us. i have to say, there is so much delicious irony. [laughter] it's a fool's beast in washington as you watch these players. the chamber of commerce wants to sit down and reason with our my president. -- our new president. what do you think the odds are that they can meet and come to a sensible resolution? >> i think it's virtually impossible. i never understood the chamber's strategy this year. they watched a tax-cutting, regulatory-reforming, pro-business president for a tax-increasing, regulation-increasing, anti-business, pro-union liberal. from the standpoint of the chamber of commerce that i used to work with, i can't understand how they could possibly sell that to their membership. it's a terrible deal, and it's going to cost their members billions of dollars. lou: it's going to cost them billions, but the multi-nationals who actually run the chamber of commerce a

e-commerce. that was new. but what we see during the pandemic is really a seismic shift in terms of consumer behaviors. because you had to shop online. so the rise of e-commerce has dramatically accelerated. i think years of change has been compressed into the last 12 months. that is the first thing to say. but you asked the question, what of that will translate into muscle memory? what of that will stay? what makes a trend? so in order to get underneath that, trying to augment our data pieces is what consumers are thinking as a look ahead. and what we have heard is two thirds of people asked in 14 markets around the world, is i want to do more digital banking, i want to do more online payments, because i learned to like it. now i use less cash. so that is the fundamental trend that is at work here. and then the question is will that stick? what will happen? is there a reversion to previous behaviors? here, i am convinced that once vaccines are rolled out, once travel restrictions are taken back,

shopify is like the general motors of commerce.ot an individual brand, it is all the brands together. emily: interesting take, roman stanek. appreciate you helping us think of new technicals for the story. thank you so much for stopping by. ok, coming up, the building blocks of artificial intelligence and data aggregation. ceo of the ai platform data bricks about their big funding round and why some are comparing the company to the next snowflake. that is next. this is bloomberg. ♪ emily: the power is in your data. cloud companies are expanding faster than ever with the ever- evolving dependence on technology. databricks, a data management platform, also seeing major growth. the company secured a billion dollars in funding from amazon, alphabet, and others, putting the value of the private company at $28 billion. databricks ceo ali ghodsi with me now. tell us how the company works and what the biggest revenue driver is to get this valuation. ali: absolutely. we take massive amounts of data in the cloud --artificial intelligence, ma

e—commerce has been brought forward ten years are many people do not know what that means but it meanserchants, merchants using selling online and using shopify, and that creates a huge momentum behind the business forfuture huge momentum behind the business for future growth and revenue. i5 business for future growth and revenue. , , , ., business for future growth and revenue. , , i. _ revenue. is interesting you say 1 million sellers _ revenue. is interesting you say 1 million sellers and _ revenue. is interesting you say 1 million sellers and many i revenue. is interesting you say 1 million sellers and many of. 1 million sellers and many of them are first—time entrepreneurs, driven to doing this because of hard economic times, so they are setting up their own businesses. how cast iron is this as a business model because it is predicated on people who have not done it before? ~ , , ~' before? absolutely, i think sho - i before? absolutely, i think shopify is _ before? absolutely, i think shopify is remarkable i before? absolutely, i think shopify is remarkable at i before? absolutel

the commerce enterprise and exchange? how does that drive us toward being better toward each other? . >> so you have to think about other people if you're in business. it you are going to be in commerce, and i think the part that gets missed -- when i'm talking to my first year students in their first year seminars, that commerce is -- i'm going to -- about persuading other people to do something, and that means thinking about how i can do something for you, and that's not how we -- that's not the general way people think but commerce. all about taking, and i think at its -- if you talk to small business owners, they're trying to find aa way how can i per said team to come -- per wade people to come through my door. they're thinking about others and that's a good thing if we're thinking but other people. and i think there's a tendency to want to say, commerce is all about greed and i'm not saying there aren't greedy people out there. in fact there are greedy people out there. what i'm saying a lot of nongreedy people that-thinking about other people through the exchange of goods and

and despite what the chamber of commerce or mr. king, the next witness, may tell you forcing arbitration on an unknowing public is not about achieving fair, expeditious or cost effective resolutions. it's about suppressing legal claims altogether. but you don't have to take my word for it. you can just look at the actions of companies like chipotle, uber and doordash. these companies impose forced arbitration on their workers but when thousands of workers try to bring single file arbitration these companies balked at the time and expense of honoring their own contracts and then they tried to do everything they could to escape arbitration, including going to court to argue that worker claims should actually be brought as a class action. this is a very thing, of course, that their contracts prohibit. the hypocrisy here is impossible. >> ms. gilles, if you would wrap up. you're beyond your five minutes. >> i'm so sorry. i will wrap up by saying that it's abundantly clear the federal legislation is needed to halt this worsening situati

so helping to preserve that commerce and trade has helped our economy and our u.s. airports who also have been impacted by this have had continued economic losses, and we want to help them with moving forward on this plan. we also want to work in a bipartisan -- on a bipartisan basis to do more to help aviation manufacturing that has been greatly impacted by this. the aviation aerospace sector has lost so many jobs, and there are hundreds of thousands more at risk. i know my colleague from kansas and my colleague from virginia, senators moran and warner, have been working on a proposal. we certainly want to continue to work on a bipartisan basis to make sure that as much of the aviation workforce that we can keep going, so as we return to the very competitive environment of aviation, that we have a workforce that is skilled there to do it. we also have to do more to help amtrak. the revenues of ridership dropped 97% compared to the 2019 riderships. amtrak has been forced to furlough over 2,000 employees. it has had to cut essential service on long distance and state

and again, people question how's an e-commerce company is going to become a hollywood producer moving tv shows. by doing so tell we created considerable value and why these businesses of the kyndell e-book business, amazon music and prime video businesses are so popular today there's device there there is amazon developed for people to develop through watch and read. in fact award-winning content as well. that was the strategy. >> host: it was kyndell successful from the get-go? >> yes. i matter days or hours, cohen can correct me which one of those was, days, hours, weeks. >> it was ours. >> was sold out and there were screaming for parts to make more. you may ask you had a second explosion on kyndell when oprah winfrey decided to feature it on her show. it was a hit right from the get-go. >> what is it mean to be amazonian? it means embodying the leadership principles the 14 leadership principles of amazon. and so if the amazon culture is about. it is either being customer obsessed versus competitor focus. thinking long term and being willing to be misunderstood for a while we're go

the acceleration of e-commerce in general. when you look at the earnings report the category was up 64% this quarter, the advertising revenue. they had not just a big quarter in general, but advertising was huge too. they have a lot of opportunity heading into 2021 with these numbers. emily: melissa burdick at pack view, who worked at amazon for 10 years before that, thank you for bringing us some personal commentary from your experience there. i will miss big news that jeff bezos will be stepping down. he will be succeeded by andy jassy who runs amazon's web services. he will become amazon's next ceo. alphabet reporting record profits this year. i spoke to the cfo about ad growth, the cloud, how the company is dealing with its own antitrust scrutiny. details on that in my conversation with her, next. emily: meantime, alphabet reporting quarterly sales that beat wall street estimates buoyed by heavy digital advertising spend over the holiday shopping quarter. shares jumping an extended trading. we are joined now by dan, princi

aggregating millions of different items that you could not find in a physical store under one e-commercef, and then being able to ship those out to customers, we had created significant value. that same position in the value chain that would not work in digital media because in fact, there would no -- be no aggregation and digital songs, books, and tv shows under one roof, while technically arduous and requiring time, there'd be no barriers to any company in the world doing that same work. you would not have an advantage of delivering faster, having a lower cost structure, all of the things that are the hallmark of why the amazon e-commerce business creates value for customers. we needed to move out to the ends of the value chain where one is where content is created by authors, filmmakers, musicians, and the studios and companies that support them, and on the other end of the value chain, the way that the customers listen to, watch, and read digital media, and that would become devices and applications customers would use to consume. we realized we needed to move out to the ends of the

the acceleration of e-commerce in general. the category was up 64% this quarter, the advertising revenue . not just a big in general but advertising was huge, too. they had a lot of opportunity heading into 2021. emily: melissa, who worked at amazon for 10 years before that, thank you for bringing us some personal commentary from your experience there on this big news that jeff bezos will be stepping down. he will be succeeded by andy jassy, becoming amazon's next ceo. alphabet reporting record profits this year. i spoke to -- i spoke about how the company is dealing with its own antitrust screwed. -- and emily: meantime, alphabet reporting quarterly sales that beat wall street estimates buoyed by heavy digital estimates. we are joined by the principal analyst, dan. i was on the phone with alphabet ceo ruth porat when the news that jeff bezos was stepping down broke. we talked first about and growth. we said we feel good about the acceleration of the digital transformation. we'll continue to be quite durable whether that is co

roads are the arteries of commerce. these are just a few of the minute we will use to open doors of opportunity -- of the many we will use to open doors of opportunity. we cannot have roads without state troopers. in 2020 the law enforcement agency was able to train and graduate 120 new troopers. they added personnel to our waterways and coast. i would be remiss in not acknowledging the challenges our men and women in blue face every day. and we thank them for their service and sacrifice. we can never say thank you enough. one of the most critical issues facing our state, is the dire condition of our prisons. it is no secret that the department of corrections is facing -- that are the result of decades of neglect. resolving these requires multifaceted strategy and immediate action. the cornerstone of our efforts is the alabama prison program. a program to replace the prison infrastructure with safe, new, sustainable men's prisons. i've signed a lease on the first of these two. to be located in melbourne county. soon we

and with the chamber of commerce speech. and the role of aviation history or the new bomber approved for construction and mind you america was at war at that time and we were very concerned off the coast of florida and russia and the middle east. national security and the bomber that was always bill in fort worth it with the united states with international affairs and the fort worth role in national security. so it was based on that. was very inspirational. in the president was a very charming fellow. and jackie kennedy came a little bit late. but she did show up in the crowd it seems they were just as excited to see her as him so that was a special moment. so well that was going on in the hotel people were lining up on the streets. we knew where the motorcade would be. high school bands and cheerleaders were lining the streets. so when the motorcade finally did come off of hotel property and onto the main street they went down by the courthouse and he left fort worth on a high. people were cheering and waving cheerleaders

and again people question how is it an e-commerce company is going to become a hollywood producer ofovies and tv shows? but by doing so this is how we created considerable value and why these businesses of the kindle e-book business, amazon music and prime video business are so globally popular today because they are a suite of devices that amazon has developed people, and apps, we develop to enable people to watch and read. in fact, award-winning content as well. that was the strategy. >> host: was kindle successful from the get-go? >> guest: yes. as a matter of fact in a matter of days or hours call and can craig know which one of those it was come days, hours or weeks. our spirit we sold out and then we were scrambling for parts to actually be able go make more. and it would actually had a second explosion on kindle when oprah winfrey decided to feature it on her show. it was a hit right from the get-go. >> host: colin bryar, what does it mean to be amazonian? >> guest: really to be amazonian it means embodying the leadership principles come 14 leadership principles of amazon. if

most of the sector comes from e-commerce. in china where e-commerce is about 25%. in south korea south korea the e-commerce penetration rate is about 26%. the rise of e-commerce sales has increased by triple or even six or seven times, especially in the online grocery store sector. comeau which markets in particular are you seeing this -- the strongest growth potential? >> across the region the e-commerce sector has benefited the logistics sector. we are seeing the highest potential in china, south korea and even japan. we are also seeing some of the highest growth among japan in terms of logistic demand. but that is logistics, how about in terms of office space? there's the like of the barclays ceo talking about the long-term adjustments that he is seeing about locations away from city center. what are you expecting and how will that play out in asia? , that is one view. we believe that there will be some companies who will want to move some of their operations away from the city center. there are a few interesting characteristics which we believe differentiate th

by aggregating millions of different items that you cannot find in the physical storm under one e-commerce roof and being able to shift those out to customers we's in a vacant value in that same position in the value chain wouldn't work in digital media because in fact there would be no unique value creation by assembling all the digital songs, digital books, digital movies and tv shows under one roof while technically arduous and requiring time there would be no barriers to any kind of company in the world during that same work and you wouldn't be able to have an advantage of delivering it faster to people or having a lower cost structure and all the things that are the hallmarks of why the amazon e-commerce business created so much value for customers. what we realized was we needed to move out to the value chain where one of the value chains was where content is created by authors and filmmakers and musicians and the studios and companies and on the other end of the value chain really is the way that the customers listen to, watch and read digital media and that would become and interve

in this scenario where there is no interstate, is, which we think is the -- interstate commerce, youill have companies that have to do all three. the way the margin capture reps today is the actual growing product captures the bulk of the margin. it behooves everybody to grow in all of these states for the foreseeable future. caroline: great to have you back with us. navy capital ceo. meanwhile, coming up, tech titans and wall street executives slated to appear before a house panel next week to discuss the retail mania we have seen the past few weeks. we get the view from washington. that is next. this is bloomberg. ♪ caroline: in a week from today, we will get the much-anticipated hearing in washington that will dig into robinhood and the good old retail frenzy we have been reporting on. who are we going to hear from you echo joe: all kinds of -- who are we going to hear from? joe: all kinds of big names are going to come to d.c. to talk about the scandal that has affected gamestop shares. syria's names expected to speak. ken griffin -- serious names expected to speak. the reddit ce

duncan howe is e—commerce strategist at cheil uk, which is a digital marketing and advertising agencylcome to the programme. executive chair man still means he will have a lot of control and very much involved in and is on, but it is the day—to—day responsibility. what do you think about this move? i responsibility. what do you think about this move? i think it is a bit of— think about this move? i think it is a bit of a surprise - it is a bit of a surprise to the market. obviously, but i also think with andy jassy stepping into that position, the business is in an excellent position. and he has been an outstanding leaderfor a number outstanding leader for a number of outstanding leaderfor a number of years. he has famously been there almost as long asjeff. i don't think the business will suffer at all from the transition happening this year. also the fact it is someone coming from the aws arm speaks volumes to how important that is within amazon.— is within amazon. what do you mean by w5? _ is within amazon. what do you mean by ws? cloud _ is within amazon. what do you i mean by ws?

allows or involves other agencies, customs and border protection's as well as the departments of commerce and agriculture state treasury and others. hannah requires strong and steady relationships with our international economic outlines. none of that came easily to the last administration. in my view, the chaos became out of the white house of the last four years cost a lot of opportunities to help our workers actually get ahead. so i'm glad the president biden is already taken a different tactic in my view he made a superb choice for u.s. trade rep. trust missed katherine tai's judgment. and of the death of her race. since she's immigrants to the united states. the first gym generation immigrant myself i know how much it means to give a to the country that welcomed in our families printed and rounding out a week of historic first year in this hearing room shoule the first woman of color to serve as u.s trade representative. and i'm pleased to be able to support her nomination and i think her for coming today. i look forward to questions and let's hear from her ranking members. >> thank

second theme, the endless rise of e commerce. oh, it's unrelenting and a lot more than the stay at home economy. there is a long list of winners here amazon, did you see the stock today, walmart, wow. it's way too low target thanks to schipt and shop f -- shopify, facebook, excellent number, alphabet comes this week best in show and etsy down the block. i'm in brooklyn. third, the reopening trade if we can hit 50% vaccination by may, then we need to own something to be able to be ready. for my travel trust which you can follow along by joining the actionalertsplus.com club. we like disney and boeing. disney's stock has come down since that amazing quarter boeing didn't go down despite a hideous quarter. that is positive, right? by the way, honey well had a tremendous quarter it needs aerospace, does it really can you imagine how well that does once we reopen? fourth, i think you can't talk about enough digitization. this is heavily linked to e commerce i feel good to recommend franks. i ambushing the buy button snow flake a coupl

been dealing with, and perhaps aws becomes more of a prominent growth driver for the company, e-commerce businesses, as you know, have been eating growth -- have been needing growth over the past couple of quarters. francine: it is a large percentage of revenue, which i guess we all know but we forget about because we buy so much of the stuff that arrives on your doorstep. when you look at europe amazon, what do you see it being like? scott: if you think about all of the assets and operations that they have, the company obviously is very well-positioned in a lot of ways, whether you are looking at the global e-commerce operations, you're looking at whole foods, prime video, what they are doing in terms of the echo devices, and then of course we have not even talked about aws. i do think, however, in a lot of respects, people view aws as perhaps the future of the company in a lot of respects, and i find it noteworthy that even if you look at the recent results, the revenue growth in a ws has not been as high as we have seen in the other more e-commerce oriented segments, and i wonder to w

during that period, he was secretary of commerce and actually was quite big on government regulation. his role as commerce secretary -- >> so, he transformed kind of a sleepy government agency into a real powerhouse. standardization was one of his main achievements where he got industries to set industrial standards which he believed would lower the cost of goods to consumers. many of the things we take for granted today, the size of lumber, the thread count on nuts and bolts, the size used in construction. >> the size of tires! >> that's right. probably the greatest example, 42 different size mill containers and he got it down to pint or half gallon, gallon. so, hoover was a very aggressive secretary of commerce and he took that agency and really made it one that was very meaningful to the majority of americans. >> 1928 is the year where roosevelt political career really was paralleled. in the 1920 presidential election, hoover was a republican candidate, and was met with the democratic candidate roosevelt, and roosevelt runs for governor of new york. this is his return to politics a

. >> the house energy and commerce subcommittee on consumer protection and commerce is looking into the increased number of scams related to the pandemic . watch the hearing on protecting consumers from those scams at the here on c-span2 . >> book tv on c-span2 nonfiction books and authors every weekend. coming up saturday at 8 pm a discussion on the, the voters have spoken. essays on life after trial with wellstone. sure steve kessler and contributorcynthia tucker and anthony's guaranty . on sunday at 9 pm eastern, the american enterprise institute's john fortier with his book after the people vote. a guide to the electoral college interview by author and former editor-in-chief of the texas review of law and politics ross. at 10:55 on author dennis mora with her the doctor's black, how to pioneering sisters brought medicine to women and women to medicine. watch book tv this weekend on c-span2. >> for many years the topic of earmarks was a regular one here on washington journal it has been for a while . it's coming back and were going to find out this morning we were joined by steve ell

search engines and e-commerce sites are more fundamental components in which ever isp we subscribe to. one particular e-commerce account since 1999 and use it for at least ten different addresses but it seems absurd to that they restrict content whether e-commerce or social media what's the point of building a commercial service if you have to exploit it? that minimum standards argument is hard to argue with although it could come an acceptable high it is imposed by title ii but otherwise i would pass on this point for theor moment. but with public opinion the telecommunications even the supreme court noted through the fcc the extrapolation through the electrical conclusion have to think carefully of those effects and on the one hand that net neutrality seems like a dead letter but on the other hand title ii have many seriously harmful consequences. i come from project finance seeing the worst consequences potentially raising. and the project cannot make a risk of return it will be funded. it will make infrastructure profiles worse than they would be otherwise. the maintenance and mod

the company provides only channel commerce programs.s the second earnings report from light speed after going public last summer it into today's move lower light speed has been on a tear joining us now light speed's ceo. thank you for joining us. >> thanks for having me on. >> it is an increasingly competitive area that you operate in we mentioned shopify and others out there. how do you differentiate yourself when you are pitching to potential clients >> we have an omnicommerce channel. we are serving the retail chain and golf 47 million smbs around the world, 7 million have more complex it on the retail side they might have tens of thousands of skus think about apparel or sports. on the hospitality, they might have rooms, services at resorts, and a golf course. we are helping them with their digital strategies >> how do you monetize what you offer? is this a fee based model for services you provide are you deeply intertwined with customers taking a percentage of their sales. >> the business model is a subscription subscription to the

amazon founderjeff bezos is to step down as chief executive of the e—commerce giant that he started ine nearly 30 years ago. he will become executive chairman, a move he says will give him "time and energy" to focus on his other ventures. the big silicon valley tech companies had a hugely successful 2020, prompting more questions about their overwhelming dominance in financial and business terms. from san francisco, james clayton reports. there have been winners and losers from this pandemic, and some of the biggest winners are also some of the richest companies in the world, based around san francisco. take here at apple, last week, the company posted record quarterly sales of more than £80 billion. at that rate, during this 2.5—minute news report, apple will have done $1.5 million worth of sales. big tech has had an astonishingly profitable pandemic. we all turned to technology more during the pandemic. it's as simple as that. we were doing more things online than ever before, from gaming to shopping, to seeing our doctor, you know, they're not charities. laughter you know, they are