one is getting a $5 million investment from jack dorsey at square.re talk to the ceo about the future of sustainable crypto money and how this might impact bitcoin's price next. this is bloomberg. ♪ (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. emily: welcome back. jack dorsey is on a mission to change how social networks interact with one another. this week, twitter announced blue sky, the company's open-source project has hired a crypto developer who says he is excited to build the future of social media. with me for more is kurt wagner. what exactly does this mean? >> this is such a complicated idea and it

getting a $5 million investment from jack dorsey square.re talk to the ceo about the future of sustainable crypto money and how this might impact bitcoins price next. this is bloomberg. ♪ and there you have it- woah. wireless on the most reliable network nationwide. wow. -big deal! ...we get unlimited for just 30 bucks. sweet, i get that too and mine has 5g included. that's cool, but ours save us serious clam-aroonies. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself. (announcer) if you've struggled to lose weight, you might think you were born with a slow metabolism, but what you may have is insulin resistance. fat becomes trapped inside your body and it becomes very difficult to lose weight. now there's golo. golo works to reverse the effects of insulin resistance, increase metabolic efficiency, and targets stubborn belly fat. join over two million people who have found a smarter way to lose weight and get healthier. go to golo.com an

ok, michael dorsey great. so get your thoughts. thank you so much for joining us on the news or to discuss this pressing issue. thank you. thank you. criminal gangs and hazy have offered a truce, which aid groups all below earthquake relief efforts to accelerates. they had been hijacking trucks with supplies that they saw from the august 14th tremor has risen to at least 2000 seen hundreds. we'll see. 140 people are so missing. tens of thousands of homes have been destroyed. desperate crowds are continuing to scuffle for bags of food. us regulators have gone said full approval to sizes. corona virus, vaccine emergency approval was granted in december, but now it's been given further accreditation. as to the review of more clinical data and the decision could boost the vaccine ruler, it's my convincing more unvaccinated americans to get the job indigenous leaders form across brazil and preparing to march on the capital priscilla. it's the head of a major supreme court ruling that could leads to the boundaries of their protected land

garry: i think dorsey is new to the bitcoin world.nd i'm not here to actually judge people based on their faith. it is just sort of surprising. jack dorsey is an amazing software engineer and happened to be the core founder for two of the biggest most important things. this is for identity and for thoughts. i can see where that religion comes into play. when you have that full and complete identity that can be totally decentralized, it happens to be the biggest threat for what jack holds very dear to him. i think it sort of makes sense that he might be a little bit threatened by the prospect of ethereum and things like it that are programmable money. you can do a lot of things that you really have to bend it backwards. emily: what do you think about bitcoin versus etherium, especially given that ethereum will be going through major upgrades? garry: i am really impressed by ethereum. it is a really big moment, showing that there are software developers in the community that can create this ultrasound money. at the same time, there are

price one of them is jack dorsey. recently announced square is creating a new business focused on decentralized financial services. based on bitcoin, using bitcoin. would have you learned about that -- about jack dorsey's plans? does sound like he is building something kind of like a theory him? >> i am skeptical about decentralized finance on top of bitcoin. the difference between bitcoin and ethereum is that on cerium, there is native functionality that allows you to essentially directly put it theory him -- ethereum best assets on this. then there are arbitrary conditions of any kind that can govern how those assets get released. bitcoin does not have that functionality. jack is going to have to essentially create his own system that enforces those rules and then the bitcoin lawyers -- bitcoin will have to be owned by jack or the participants in the system. it looks similar but it all ends up being something with a much weaker trust model. this is the whole reason why ethereum started as an independent system in th

jack dorsey is an amazing software engineer.ened to be the cofounder of two of the biggest most important things in our society. i mean, twitter as a platform for identity and thought, and square for payments. i can see where that religion comes into play. when you have a fully determined identity that can be centralized, that happens to be the biggest threat to actually what jack holds very dear to him. and i would not begrudge him that. i do think it sort of makes sense that you might be a little frightened by the prospect of ethereum, and frankly, things like it that are programmable money. they can do a lot of things. you really have to bend over backwards to deal with bitcoin. emily: what do you think about bitcoin versus ethereum especially given that ethereum is going through all these major upgrades? garry: i am really impressed by ethereum. 1559 was a really big moment showing that this group of people, software engineers in a community who can actually evolve and create this idea of ultrasound money. but at the same ti

jack dorsey of twitter, a big proponent of it going in cryptocurrencies, he is tweeting out that thendment is being killed to get more military spending. there seems to be an argument between certain senators over defense bill spending and whether we will be killing the f that. romaine: this is all the wrangling over that $550 billion bill. there are still multi trillion dollars package is on the table for the biden administration and the democrats to negotiate assuming they get this done. i want to bring in andy blocker. not only does he understand the government but he understands money and all of this -- and how all of this sort of intersects together. when you look at some of the wrangling going on right now ostensibly over a crypto measure but this is really about broader issues of how you pay for this. i wonder how much potential success there will be for a $3.5 trillion package. >> you hit the nail on the head. but i don't want to move too fast here. we are running into the goal line on this package but we are not there yet. part of it is because the liberals in the house are

. >> today's special guest is sherisse dorsey smith., youth, and families, and she's here to talk about the learning grants, and she's the project lead. miss dorsey smith, well come to the show. >> thank you, chris, for having me. >> can we talk about the learning hubs in general. what it is, who it's designed for, and why it's so important during this pandemic. >> yes, definitely. so the community hub initiative was created to offer support for distance learning. we wanted to ensure that young people, their basic nutrition needs were met, that they had access to wifi and digital devices, and they were able to engage with their peers in a safe environment. the community hub initiative or c.h.i., as we like to refer to it, supports our most vulnerable youth. our priority population was to focus on youth that lived in public housing, youth in s.r.o.s or in foster care or homeless, and maria su, our director, likes to say to give kids the golden key, but to focus on our african american, pacific islander, latino, and people of color. it's

jack dorsey has done a lot for bitcoin. square has done a lot for bitcoin. to his credit glad to see him continuing to be a pioneer, helping to propel and push society forward to create a more equitable world. four -- ford have billion people on the planet and under banks. they lack the financial services for these technologies are going to create financial inclusion for everyone. life, liberty, the pursuit of happiness. this is essential for everyone to pursue that happiness that is the american dream. >> hopefully that something that will take el salvador out of the economic gutter that it's neighbors have been embroiled in for so long because of the drug war. most people, a vast majority of people and el salvador use cash they do not have bank accounts. everything is done via cash. how did they switch from that to bitcoin? and raise their mobility and life as well? >> it will be bitcoin as well as effectively a digital dollar. 70% of the population of el salvador is on bank. they do not have banks, they do not have credit cards. if you order and uber and

coming up, jack dorsey's digital payment platform will pay $29 billion for australia's by now, pele ashtralia's buy -- australia's buy now, pay later after pay. this is bloomberg. ♪ ♪ guy: maybe a bit hackneyed, but it is, monday once again, the biggest ever acquisition for square. the digital payment platform led by twitter founder jack dorsey agreeing to pay $29 billion, buying the australian buy now, pay later company afterpay. dave wilson is here with the details. dave: the company basically lets consumers buy on the installment plan. they don't charge interest or fees as long as you keep up with the payments. this is a new area of finance for square. the shares fell initially in response to the deal, and they have now moved higher by 9%. afterpay up almost 19% in australian trading overnight. afterpay has something like 16 million users, so square gets to add those to the 70 million on its cash app, focused on consumers. others are not doing so well. mobile payments out with earnings today -- global payments out with earnings today that weren't well-received. it is really setting u

but for now, live in san jose, dustin dorsey, abc7 news. >> we shall see. dustin, thank you. more than 22 million californians could cast a vote in the recall election. the california secretary of state says that's 88.9% of all californians who are eligible to vote. and three million more people who have registered since the 2018 gubernatorial election. so we'll see what the turnout is in fact. the deadline to ridge city for the recall election -- to register for the recall election is august 30. on our website, abc7news.com, we have everything you need to know about the upcoming election including this ballot explainer. remember, you can vote by mail or head to the polls september 14. >> coming up on abc7 news at 5:00, governor newsom says more law enforcement is coming to oakland. crime victims, though, say the help can't come fast enough. one woman saying crime has touched her generations of her family. and college students are moving back into the dorms at cal state east bay. but for many students, this year will still be far from normal. stay with us. abc7 news at 5:00 j

the officer runs after dorsey yelling for him to drop his weapon.estigators say dorsey did not drop his weapon, and that's when the officer opened fire doors. he survived the shooting and was later arrested. the police officer was not hurt. san francisco police are asking for your help after a shooting in union square that injured a boy yesterday afternoon. this is video posted on the citizen app. police responded to stockton street, right near a pharaoh and found the injured boy. he was transported to a hospital. we don't have an update on his condition, witnesses say. two groups of young people were fighting just before the shooting occurred. if you have any information about this incident, you're asked to call san francisco police from wildfires to the drought. we'll take a look at the challenges farmers are facing here on the west coast as they brace for what's expected to be another rough season. that is another hot one for most of us in the inland parts of the bay area. you're much more comfortable if you're in san francisco ktvu meteorologist

so when the director dorsey was his name, when he came back, they didn't fire me. i just stayed. and i stayed and i stayed. >> it's quite an experience. people come all over the world to celebrate a lot of people come for that glide ensemble. how did that manage to develop? >> we always had a qualm. as time went on, we expanded the band. we started with the sax phone. one of the best sax phone players anywhere. charles mcneil. i had him come in. because we were getting ready to make a record. and he used to like that sax phone and that trumpet. we were getting ready to do another cd and i said why don't we add a trombone. that is when john burr man came in. and we had them ever since. it's been 158-20 years. >> when it comes to the choir, and i had the privilege of being there and i come to the choir rehearsals. how do you come on sun to select a song? you also select the songs. >> first i got to see what soloists are there. i tried to set the mood. for the preacher to preach. i think that is my primary job. and first you want to wake the people up. and then the next song you can

in san jose, dustin dorsey, abc 7 news.starting today, some passengers will be able to ride in an autonomous vehicle. waymo technology has been testing the technology for years and is now ready for trying passengers. how you can sign up and what they expect back. >> a big step forward for waymo and passengers. they have launched a san francisco test program inviting adults on its mobile app to hail rides for free on its electric jag wire suv's in exchange for feedback. >> we want diverse opinions, feedback from people with various perspectives and mobility needs. we want to make sure we build a product that satisfies the community. >> it uses multiple cameras and laser technology to guide it but a driver will remain at the wheel to intervene if needed. they would have had a similar -- have had a similar program and other places but san francisco's streets will be challenging. the trusted tester program will be knitted to certain neighborhoods such as sunset, richmond, neu vallow and castro. it is ahearing from passengers l

laura is an experienced trafficker young bed that i for the last got dorsey. i knew that up at all. now forget about it. they went to look at those anywhere in the us the at the heidi, is he go marlo gaze. yet these are joining the roger every day, a loyal and his accomplices make the round trip to venezuela. but today there is a problem that just wanted some men in uniform on the opposite shore. when soldiers loaded cold, one of these accomplices on the other side of the border where we went over to be ended by now, but i was gonna say, i'm a part of the team of smugglers. a worried along with the usual soldiers. there's a man, they don't recognize a senior officer, the man on the left with a red scarf venue. but normally the traffic has offered the soldiers a bribe in order to cross over the presence of an off. so who they don't know complicates things that i'll have when i come in as well. if i that's another look what i this year me those you've got one star seat guidelines on the opposite shore nose a complex indicate that the coast is now clear. the soldiers are gone. no, no,

for more on the presidents response let's get to steve dorsey who is alive outside of the white house. >> reporter: the president and said that despite the attacks and couple. the united states will press on with the evacuation mission. and warning isis that the united states is prepared to strike back. the pentagon says that thousands of evacuees are still being processed at kabul international airport. after nearby text killed servicemembers and afghan citizens. >> two isis-k suicide bombers detonated in the vicinity of the abbey gait. which was followed by isis a gunman who opened fire on civilians and military forces. >> we will hunt you down and make you pay. >> reporter: the president addressed the nation over heightened criticism over the handling of the situation by his administration. >> i have instructed the military whatever the knee. if they need additional force i will granted. >> reporter: president joe biden met with his military team in the situation room. >> our mission remains that we are committed to pulling people out until we terminate operations at the end of the

dustin dorsey, abc7news. >>> we are seeing a slight increase in vaccinations in california.he average number of doses administered each day climbed above 68,000 today .20 1.3 million people are now fully vaccinated that is nearly 63% of those eligible. over 3.2 million people are partially vaccinated. the state has plenty of doses on hand and reports having 76 days worth of inventory. >>> if you have questions about the coronavirus vaccines you can always ask the abc7news vaccine team. just had to abc7news.com/vaccine. >>> people are dead after a chopper went down at about 1:15 this afternoon in a remote area near highway 45. the crash site is about halfway between sacramento and chico. cal fire reported the crash but it was not their helicopter. the county deputies have not identified the victims so far. the faa and ntsb will join the investigation. >>> and end in sight for california's largest wildfire, the dixie fire. the number of evacuation orders were lifted or downgraded. that fire is a few miles from paradise, where the deadly camp fire burned in 2018. the number of

today we have josh brown joining us along with cameron dorsey from fuel point private wealth.turning lower into the close after hitting new intraday highs early in the session for the first trading day for the month. counting down two tenths with nasdaq with slight games and i know you keep a close eye on the smh, these years, these decades as it were, but at the same time yields moving in -- moving low what do you think is a better read on the economy, which do you pay closer attention to? >> i would just say that, like, smh is important to follow, but the move that we've seen like very recently is 100% due a lotf meaning in the smh big move higher big fall for rates i saw one spot 17 last time i like looked. we believe that the fed will focus on september, quote/unquote reopening data to decide on any kind of -- any kind of tapering oranything like that. so i think it is just a quiet first week of august that is my take. you definitely have a divergence, new highs for the indices, but a lower and lower amount of stocks confirming those new highs. that is what most people are

in palo alto, dustin dorsey, abc7 news. >> you can see more climate watch coverage on the tv app.am. lots to watch. >>> not like it will be raining anytime soon. i was going to say, if the weather is bad you can go inside, but it is pretty good. >> it is dry. we can take a look at what is going on, starting with our forecast animation. low clouds in the overnight hours. spotty drizzle. perhaps not measurable rain as this morning. later in the day tomorrow, hazy sunshine as more smoke pushes in. overnight, low temperatures mainly in the mid-50s. tomorrow we will have hazy sunshine with high temperatures in the south bay in the mid-80s to mid 90s. so it will be quite a bit warmer tomorrow than it was today. in the peninsula, hyzaar 80, 81 degrees. up to 85 in redwood city. downtown will top off at 71 degrees. the north bay will see numerous 90 degrees or above ratings. east bay, 81 at hayward. in the inland east bay, the warmest weather, hottest i should say, upper 90s at livermore, concord, walnut creek. all the inland areas will be in the upper 90s. the seven day forecast, nearly

dustin dorsey, abc 7 news. >>> developing news, containment dropped overnight on a wild fire in lake county. the coyote fire is 45% contained, down from 60%. it is threatening homes near highway 29 and hidden valley lake. the lake county sheriff urged residents in this area to evacuate. cal fire said it started yesterday as car fire that spread into the vegetation. it's burned 100 acres so far. cal fire crews say they are aggressively working to protect homes still in the path of the dixie fire. officials say the fire has burned more than 537,000 acres and it is 31% contained. at last count, 585 homes have been destroyed. the fire fight has been challenging, with erratic winds and strong gusts fueling the flames. of course, smoke continues to drift over the area. smoke from california's wild fires is creating bad air all over. an air quality advisory has been extended through the weekend as smoke is expected to impact the bay area. for more on that let's get over to meteorologist lisa argen. >> hey, liz. lot of it has to do with high pressure building east of us. we have a clock wise

reporter: in the south bay, dustin dorsey. >> tomorrow night, and abc news exclusive. president biden will sit down with george stephanopoulos with his first interview since the withdrawal. you can watch the interview on world news tonight. . it airs tomorrow at 5:30. >> breaking news now from sano hill. police are searching for a murder suspect. a heavy police response right now. 22-year-old reynaldo john sanchez is wanted for murder. in florida he fled from police. we have seen officers going three yards as they look for the suspect. we will keep you posted. >> now to the latest covid-19 developments. federal health officials may soon tell americans to get a third shot eight months after their original vaccination if they received pfizer or moderna. officials are waiting on a study from johnson & johnson on the effectiveness of a second dose of their single shot vaccine. the white house covid-19 data director says at least 50% of the 12 and older population in every state has received at least one vaccine dose. more than 88,000 americans are currently hospitalized wi

abc7 news reporter dustin dorsey gives you a look at how ford transformed their best- selling vehicle to follow along with the president's plan for a zero admissions future. >> reporter: we have come a long way since the model t and now the ford motor company has captured lightning in a bottle, in a truck. on display for the first time in california, the fully electric ford f-150 lightning, the future of ev. >> this is designed to show people whbox thinking and d software development, so no better place to show off the tech savvy f-150. better storage space, towing ability, and faster speed. the lightning is the most technologically advanced truck ever. tech experts say it is also a step toward a cleaner country. >> i think this is a pivotal vehicle for the u.s. we have more coming, but i think this will be critical to getting the average person on board in the u.s. >> reporter: transforming the number one selling vehicle in the country is for doing its part as the nation hopes to move to a zero admissions future. >> there is a vision of the future beginning to happen. the future of t

as dustin dorsey explains, the animals were seized along with weapons and drugs. >> with an excited pantspeedy run, gucci the french bulldog is reunited with her owner again. she was stolen from the owner's home in february. last week gucci in one of the puppies were found by police. these are the investigators posing. the dogs owner does not want to be identified but is happy to have them home. san jose police found the dogs as part of an investigation into three suspected gang members. >> for us it is a big win. the suspects are responsible for 10 violent crimes in the city. the various shoothe various shoh associated with as well as earlier. >> this is what the police seized, equipment used to manufacture and assemble ghost guns, a ballistic vest and narcotics, and a fully automatic handgun, just one of the illegal guns that police obtained. christian camarillo says the department is happy to get the illegal drugs and weapons off the streets but wants to bring the remaining lost puppies home to their owner. >> i know how much these dogs mean to their owners. very smart dogs. this isn'

in san jose, dustin dorsey, abc7 news. >>> the bay area mass is in its second day.doors. napa and solano county are not part of the mandate. in the east bay, one business owner is refusing to enforce the new rule. the owner posted a message on facebook saying, quote, we believe everyone has the right to freedom adds not constant retracting restrictions from the government. some in the community support his stance. >> it is his business. he owns it. he had to suffer through closing down through covid. we can make the decision whether we want to go in with a mask or not. >> the county health department is aware of the situation and contacted the district attorney office to investigate. >>> microsoft is joining the growing list of companies requiring vaccines. the rule applies to u.s. employees, vendors, and guests. microsoft has approximately 100,000 employees domestically. microsoft plans to work with those who have an approved exemption. they have also pushed back the return to office date to october. google was the first to announce an employee vaccine mandate last

in san jose, dustin dorsey, abc 7 news. >>> developing news. containment dropped overnight on a wild fire in lake county. the coyote fire is now 45% contained, down from 60%. it is threatening homes. the lake county sheriff has urged residents to evacuate. cal fire said it started yesterday as a car fire that spread into the vegetation. acr. and for more on that, let's check in with meteorologist lisa argen. >> we are tracking the fires. we have some of the haze, high pressure starting to build in. that will bring lighter winds for some of us. also going to bring a strong ridge of high pressure. we see that building in this time of year to the south of us. that's creating the very warm temperatures we'll experience today inland around the san ramone valley, out towards livermore and even in san jose. temperatures coming up out of the north bay as well. going to be spared around the bay area and san francisco where we have a pretty robust marine layer, allowing for reduced visibility, even mist and drizzle this morning. there's some moisture fro

the covid-19 vaccine and many hope that will change in the next month abc 7 news reporter dustin dorseyw a local congressman is calling on the fda to get kids vaccinated and the doctors who are backing up that decision. in classrooms across the bay area school districts are doing everything they can to keep students safe, but one key piece is missing in the fight against covid-19 vaccinations for kids congressman. rochana says that has many parents worried about their child safety. i've heard from thousands of parents in cupertino and fremont and sunnyvale they're concerned about sending their kids back to school kids who don't have a vaccine and as of course as a parent of young kids this concern is personal for me to in a letter to the fda. american pediatrics association says pediatric icu numbers are rising due to the delta variant along with more than 100 members of congress representative. rocana is calling on the fda to lay out a timeline for vaccinating kids under 12. every parent knows the pediatrician often knows best in america's pediatricians are saying it's time to get the

ootf excitementut b also anxiety ovethr e loomi tnghreat of cov.id >> the soubathy report dedustin dorsey elaxpins how the schloo hospe to epke everye onsafe on campushi ts fall. >> under the hy azsouthbay skies, you canee fl the light back oinn sanos je state univertysiam cpus as the artans ruretned afteror me than 17 month osf mostlyir vtual arning. >> it remis ndmef ofreshman ar. it is fun to see everye,on see my frien wdsalk by. >> ware e fired .up sam was on hand for an official welcome ckba press cfeonrence featuring mary. i>>t is so great tbeo back rehe on camp.us eth presidental cled it one of the stmo anticipedat fall sestmeers the hoscol has erve se.en with the dtael variant, there is still anxietynd a a focus on fety. >> we have relyal good procotols pinlace and we have been shinarg that aoscrs campus. we a creonfident we will be able to do it safely and we will make whateverdj austmentse wneed to make anglohe t way. >> onero ptocol is v aaccination mandeat to come on campus. 95% of the group is fully vaccinat aedccordingo tthe esident. everneyo elseas h until septemr be13 to c

or who that region, what am i be sort of sort of widely healey start whining a lot. dorsey da willis doing the wrong piece. throwing you loosely that your mac, you that we, but as for board near the some of the really he saw the chauffeur's options for whether we lose your lesson of the the we will, we will. sure, sure. so that goes out that the last not but you still are still, we are going to be your swab was pretty much the gloss miss level. the slow me deal with the press this number at him, but they're much the parker if you say it's a group of the video, but you must be nice. it's nice to be with you. what it must mean. i spoke to me the the new what was the last what the, what it was good . but you have him to very different public images to the west. he was nicknamed, going to be the liberal minded politician who taken the 1st steps to making up with his arrival the new general secretary had way with european and american leaders. the newest bill was still of typically they want a system is up on them. what's going on there and you know, through door the little gear or gordon

abc7 news reported dustin dorsey spoke to a wildfire professor who shared a troubling thought about our air quality, going forward. >> reporter: lake tahoe is normally one of the most picturesque places in california, but as the wildfires continue to burn, this is what south shore looked like this morning. similar views in northshore and reno. resident connor rounds has to wear a mask just to go outside. he says it doesn't even look like home anymore. >> yesterday it was clear skies all day and today, a lot darker than it normally would be. normally you would be able to see the mountain, the forest, the hills, the ski run. you can't see any of that right now. >> reporter: parts of california saw the worst air quality in the world on friday. and plumas county, there was an aqi of 834. the director of san jose's universities wildfire research center says favorable wind conditions gave the bay area relatively healthy air, but a wind shift is caused the smoke to travel hundreds of miles south and he says it is just the start. >> we are getting into critical fire weather patterns. the next c

and, yeah, i think this is a trons formational play by jack dorsey and square and one that puts them ahead of paypal or anybody else in this space. so i'm very impressed and clearly as many people like to shoot at him, he has made some real positive steps for this company. >> all right good stuff i've got more moves to get through as well before we get out of here today. check out this mystery chart it's down nearly 15% this year now a bullish new call says 50% upside is within reach. we'll tell you what it is. we'll debate it in our "call of the day. watch or listen to us live on the go on the cnbc app we're back on "theal itw hf"n o. made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. young man: thas for having us this ekend mrs

live in san jose, dustin dorsey. larry: hopefully they get that all clear. >> more to come on abc 7 news at 5:00. more companies may be considering vaccine mandates as some vaccines get full approval. experts say the mandates aren't only to protect workers but companies' bottom lines. i am lori anthony in oakland where more than yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no good in a team setting. geico. save even more when bundle home and car insurance. ♪ ♪ dry eye symptoms keep driving you crazy? inflammation in your eye might be to blame. [inflammation] let's kick ken's ache and burn into gear! over the counter eye drops typically w

dorsey says he is getting into bitcoin mining. tell me more.f. this is a big pr push if you ask me for compass mining when dorsey clearly has enough money to fund his own equipment to do this. the cost of the equipment for compass starts about $8,000 but the profit is just like $30 a day? so it is very small. i think this is his way of broadening participation when it comes to mining. stuart: you buy a piece of this, what do you call it? lauren: compass mining. stuart: you buy a piece of that in turn get you 8,000-dollar machine or program. lauren: gives you access to their machine so you can mine for bitcoin yourself. it is hard to find these machines. they are really powerful computers. a lot of them were stuck in china when china controlled the bitcoin mining operations. they're slowly moving to the u.s. but it is hard to get them. stuart: but it gives respectability to the whole crypto stuff with a guy like dorsey goes in, gets in that particular way. i find that interesting. you are watching the day's movers. macy's up 13%? lauren: wow, lo

it shows an officer being shot at several times by homicide suspect jeremy dorsey. in the video. you can see the officer running after the suspect and yelling at him to drop his weapon. the suspect was eventually shot after refusing commands. police say the suspect survived the shooting and was arrested. the officer was not hurt. a pleasant in family will receive nearly $6 million.03 years after their son died in police custody. ktvu is rob ross spoke with the victim's family who told him how they plan to use the money to prevent similar incidents. and we do want to warn you. some of the video may be disturbing. like this is welcome. let's stop. this was jacob bowers encounter with pleasanton police after behaving erratically at a railey supermarket three years ago, stop bowers. life would end after this arrested which police restraint and used the taser on the 38 year old tech worker diagnosed as mentally ill. at one point, bauer tells officers he can't breathe. just calm down, man. you guys calm down every now you can breathe. that's why you're yelling still okay? were shattere

twitter boss jack dorsey's digital payments platform square, is buying australia's afterpay limited forech at a 30% premium. joining us as our correspondent, simon atkinson. what more do we know about this deal? �* , what more do we know about this deal? ~ ~ , ., ., deal? afterpay, in australia, has become _ deal? afterpay, in australia, has become massive. - deal? afterpay, in australia, has become massive. the i deal? afterpay, in australia, - has become massive. the company has become massive. the company has only been going about seven years and effectively it is a by now, pay laterfirm years and effectively it is a by now, pay later firm stop so if you go and try to buy something online you will almost always come out with many major companies now, be offered the opportunity to use afterpay. and it is the first country in this region, really, to go into this market where people can buy things in instalments, which is what square really sees in it. paypal has suggested it is keen to set up something similar. there are rumours apple is looking at a similar business model. but what sq

the biggest acquisition ever for square, led by twitter founder jack dorsey, paying $29 billion for anustralian by now, pay later company. simone biles will return to competition at the tokyo olympics. the american gymnastics star withdrew from most of her events because of mental health issues. she will compete in the balance being final tomorrow. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> by this evening, hopefully we can start the process. we should finish up by thursday, i hope. >> you think it will pass? >> i do. when you see chuck schumer and mitch mcconnell voting for the same thing, it is something beautiful. jonathan: senator joe manchin speaking to cnn over the weekend. good morning, alongside tom keene and lisa abramowicz, i am jonathan ferro. into the bond market, yields unchanged on the session so far. the euro is stronger and the dollar is weaker against everything. here is the line. when you see chuck schumer and you see mitch mcc

there's no one happier than zuckerberg and jack dorsey because every dispute makes them money.'ve upped the system to foster conflict because that keeps us on the platform and targeted so effectively it was set up on this first amendment principle but then as facebook went into europe they had to observe the much more restrictive rules we can badger facebook all we want and that board of theirs is just a whitewash saying look something bright we are taking care of it to stay away from us. >> i want to remind those of you that are listening and tuning in that you can ask questions and if we have time and we are going to try to make time, we will be sure to ask your questions. so put it on the chat and i will keep an eye on it. while we are on social media, do you see a role, do you see any kind of push for government o regulation of the internet, social media companies? does that scare you? >> yes it scaresye me terribly. the two words that arrive when i think about the government regulations in the internet, that's donald trump. it was a first amendment that effectively saves u

nobody is happy about this than zuckerberg or jack dorsey because every dispute makes the money. up the system to foster conflict because that keeps us on the platform and targeting for ads. the censorship was set up on this principle but then was facebook went into europe and had to absorb more restrictive rules of europe, he's reimported back into his country and i think we can batter facebook all we want but they are going to do what they want and is just whitewash basically saying look, something bright, look over there, we are taking care of it. stay away from it. >> i want to remind those of you listening, you can ask questions, put them up on the track and if we have time, you want to try to make time from we will be sure to ask erica your question so thought on theus cht and i'll keep an eye on it. while we are on social media, you see your role, any kind of push for government regulation of the internet social media companies, doesn't scare you? >> it scares me terribly and that's not to say i made crazy but a lot of the things i see on the internet. there's two words th

jack dorsey who looks like he's got tom hanks forecast away to last this to happen, get a razor, cleantivist and nothing more. sorry, i had to throw that out. >> look at the producers, they got back together in a hurry. >> are they twins? >> if it weren't so terrifying, it would actually be hilarious. you live in florida, you live under the reign of ron desantis press secretary, i am assuming you probably rather live in a state where ron desantis press secretary has a twitter account than in a place where the taliban has a twitter account but i'm just guessing from i don't mean to put words in your mouth, what you make of these crybaby reporters the runt of the teacher every time a source pushes back on a story and tries to give a taste of their own medicine? >> they need to grow up, obviously be a little tougher but i think it's a lot bigger than that, to be honest. you look at what twitter doing and facebook and youtube, it's a chilling effect on america and a chilling effect getting the truth out there, fewer and fewer places where you can tell the truth and america and that has big

jack dorsey is a bitcoin evangelist. and you heard from new fcc head.ild, wild west crypto environment. stuart: regulation can bring respectability. susan: i think so. imagine how positive that would be for bitcoin prices if they relax especially tax recording. stuart: absolutely. 39 grand. we have to check big tech. we have been open for 14 minutes. it's a mixed picture. no big moves for any of the big-tech giants. here is ray wong who say tech giants are proof. >> tech giants at 2 trillion in 2017. >> 2% of gdp. 2 million drivers on the back end. they are doing and they are worth 30 million in terms of valuation. they did 22 billion in order transactions. that's a lot. dominate the market. >> they're done ipo in the united states, right. they are out the public. >> dual listing, yes. stuart: not upcoming ipo. it's there should do pretty well. we have the food delivery to back up the ride-hailing. lift saying ride-hailing has improved by 125%. doubled from last year. that is a great thing. i'm interested in profitability outside of expenses. if lyft sa

emily: v bothitalik -- both the ethereum creator and garry tan did not like jack dorsey's -- into de-fie do you think it is going? matt: i think you are not a list of our viewers would agree that financial services need instruction, and de-fi will be how it does it. what we have seen in de-fi so far from things like uniswap and aave, and we just launched friends that provide exposure to both, we see them competing with coinbase to provide crypto brokerage. aave emerging is almost the prime broker for the crypto community. what we need to watch for now is how regulation develops, that will determine whether they can go from 1-1 and penetrate the digital space00. emily: thank you so much for stopping by. every mentor, you can catch more of my conversation with the ethereum creator on "studio 1.0" over the weekend right here on bloomberg television. check your local guide for details you can also listen to the podcast when you're on the go. footlocker stock surging after the retailer reported that her than expected second-quarter results. we dive into the numbers and what it means for the

founded by twitter ceo jack dorsey, is planning to incorporate the fin-tech company into a seller and services when people check out with, of course, the app, maria. these are some of your headlines from here. back to you. maria: yeah. big deal, big implications there. we've been making the point that visa has a larger market value than jpmorgan, and this a gives you a sense of the transaction business. that's what's behind this deal this morning. thank you, cheryl. meanwhile, china's crack coupe on business continues -- crackdown. larry lindsay telling me yesterday on "sunday morning futures" about xi jinping's control of business today. watch this. >> what xi is all about is control. his predecessors tended to focus on wealth creation. that's not what he's interested in. he wants to assure the dominance of the communist party. maria: there was a movement to push back on investors investing in chinese companies, particularly those to tied to the chinese military to fund the ccp's expansion. your thoughts. >> investors should, you know, watch their own money, and anyone putting their

we've had jack dorsey, elon musk, brian armstrong, ceos in the crypto space, people who are advocatesthere's a consensus about. even all of them, all of the folks that you just talked about, which is that we need to have proper informational reporting for cryptocurrency just as you would for an investment in stocks, bonds, other financial instruments. a broker for cryptocurrency should provide individuals a 1099 to be able to know what their basis is in many cases to know what the gross proceeds are this is great for everyday cryptocurrency holders because right now as you know you have to figure out your own basis option although some brokers provide it, some don't it's standardizing the process i think if there's a consensus about that across all party lines and certainly in the cryptocurrency community, the question is how do you do that without bringing other people into that reporting requirement in addition to brokers i think that's a very serious issue and we must address it treasury and the joint committee on taxation believe that the legislation as it's written handles that p

twitter boss jack dorsey's digital payments platform, square, is buying australia's afterpay limitedtic values has come into effect today. president biden signed the executive order injune and 59 companies with alleged links to the chinese military are affected. it comes amid a crackdown by beijing on tech firms listing in the us and a broader deterioration in relations between the two superpowers. so what has gone wrong and where will it all end? (read on) so what has gone wrong and where will it all end? joining me from new york is professor ann lee, a leading authority on china's economic relations and author of "what the us can learn from china" and "will china's economy collapse? " professor, thanks so much for joining us. how much impact will this band ., joining us. how much impact will this band- l _ joining us. how much impact will this band- i would - joining us. how much impact will this band- i would say i joining us. how much impact will this band- i would say that| joining us. how much impact will this band haste? i would say that the this band have? i would say that th

one endorsing jack dorsey and one large deal. >>> and covid-19 cases continue to surge in some states as one state breaks a pandemic hospitalization record despite the scary headlines, we'll show you data that anmay make you feel better >>> and on capitol hill, the senate turns on the $1 trillion infrastructure plan as it clears a hurdle last night. >>> despite the surge, what happens to the stocks in china as the crackdowns crumble more than $200 billion in market value on their markets a lot to do on this monday, august 2nd this is "worldwide exchange. >>> well, good morning, good afternoon or good evening. welcome from where every in the world you may be watching. i'm brian sullivan great to be back after a long week on the road by the way, welcome to the first trading day of august. let's jump into it and see how things are looking to start the month. they are looking pretty dog gone good dow futures up 200 points right now on a percentage basis, the nasdaq is up more. up a nice pop for stocks. we are coming off a week where the major advantages did fall a bit, but small caps were

jack dorsey is saying they are overly broad. nevertheless, looks like it will go through. next, chuck schumer and other democrats are saying next we will move on to the $350 trillion social infrastructure built which will complete joe biden's economic agenda. interestingly, the $550 billion bill will add $256 billion to the budget deficit over the next decade. how do you pay for it? that is more and more the big question. haidi: of course this comes as the debate over the debt ceiling heats up again. this feels a bit like groundhog day, or the boy who cried wolf every time we do this. kathleen: of course every time the situation is a little different. right now you're looking at the question of the debt ceiling. should it be increased at a time when we have a $550 billion infrastructure bill about ready to be passed and maybe $3.5 trillion more. what is happening now is the senate also today passed the budget blueprint for that next $3.5 trillion package. they want to force republicans into having to vote on that debt limit hike, and vote it down. so they could have put th

dustin dorsey has the story from san jose. dustin: just four just four jusr teams played, a return to the gridiron for fall football in san jose. it may be just a scrimmage, but you could not tell from the excitement on the field. >> it has allowed our guys tos o thankful and reflect on what they may have lost, whether that be more or less than other families. we will not take that for granted again. >> football is something i have been playing since i was a kid, so i will keep playing, but it definitely feels better to be back. dustin: football was one of the only states in the country not to play football on time. covid not only delayed the season, but parents say it created struggles off the field. >> i know kids who dropped out because they did not have no sports, so being back is awesome. >> there is only so much you can do in your own backyard, so being back here and able to be back in this environment is so exciting. dustin: teams no longer faced such strict protocols regarding masks, but the threat of the delta variant

dustin dorsey, abc seven news. >> spencer is here, that means weather. >> nice to get out and walk butre. >> it is still quite toasty at there. closer to the coast, it is breezier and cooler. here is a look at how breezy it is right now, we have dust up to 23 miles per hour. pretty breezy just about everywhere else as well. let's look at the cooldown have had. the 24 hour temperature change shows every location is a few degrees cooler right now than it was at this time yesterday. let's look toward the bay bridge. you can see how breezy it is outside our studio right now, currently safety two degrees in san francisco. palo alto is at 70 and 60 at pacifica. here is a view at the golden gate where the clouds are getting lower and thicker. other temperatures, 75 degrees. 89 at fairfield, 90 here. you can see the east bay locations are rather warm. there are some broken clouds and blue sky mixed in there. these are the forecast futures. increasing high clouds. hazy skies tomorrow. the air-quality advisory for tomorrow as well. we can expect hotter weather in land. here is the view as we loo

jack dorsey issued a few lines saying square and afterpay have a shared purpose and together we can deliverre compelling products for merchants and customers. square plans to integrate afterpay into its existing units. this will let even very small merchants get into the by now, pay later scheme. -- buy now, pay later schee. shery: here is a quick check of the latest headlines. china evergrande is selling stakes for around $418 million u.s. to ease funding pressures. the world's most indebted property developer will sell 7% to tencent and 4$ to an unidentified buyer. -- 4% to an unidentified buyer. visa backed simone biles after she withdrew from olympic events to look after her mental health. visa has an olympic sponsorship deal. other major sponsors have also praised her decision. >> we are proud of simone. look, she's proven beyond a shadow of a doubt that she's may be top gymnast ever in the history of this sport, and clearly she went to tokyo would nothing but an idea of winning more gold medals and proudly representing america. and the reality is that we're all human beings. haidi: le