♪ emily: i'm emily chang in san francisco and this is "bloomberg technology."oming up in the next a hour, bloomberg scoop, a bumpy ride for lyft. why the company coo is leaving and why the founder plans to split up the job. trade commissioner joins us to tell us why she voted against the ftc's record $5 billion fine on facebook. an dan coats is leaving the job as trump's top spy. what that could mean for national security. but first, to our top story. executive shakeup at lyft. chief operations officer jon mcneill is leaving after joining last year from tesla. he served as president of global sales and service at tesla. the lyft founders say they won't hire a replacement. why is he leaving? mark: that is a very good question that we don't quite have the answer to yet. it is an intriguing situation. he didn't even last two years. he was in one of the most high-profile positions at the company. this is also a situation where you are a very experienced executive coming in with a mandate to oversee operations but you also have two founders of the company and you ha

and it was emily's desire to keep it from alex. >> emily went cold turkey.ays the first couple of days, her daughter hardly left her bed, suffering from severe headaches. but after only four days, emily went home. >> did you think she was clean, off drugs, that that problem was behind her? >> i knew that she was still tired. >> but no longer addicted? >> no. >> you were convinced that it had been dealt with? >> yes. >> alex didn't find out about the detox until much later. but he says in the weeks before she died, emily still had a stash of pain pills. >> how many times did you say to your wife, if you don't get off the drugs, i'm going to have to leave you? >> at least three. >> but she wouldn't do it? >> she would fall back into her old habits. >> she would never agree to rehab? >> no. she told me that all her doctors are on the same page. everything is fine. >> so alex was telling everyone that his wife was a victim of her own demons. but soon, new evidence would emerge that would send this case in a more sinister direction. >>> coming up -- >> the result

♪ emily: i'm emily chang and this is the "best of bloomberg technology," where we bring you all of ourop interviews from this week in tech. coming up, earnings star for big tech. amazon, alphabet, and facebook all release second-quarter report cards. we will break down the results. and facebook results are overshadowed by a new antitrust investigation opened into the company's social media ads and mobile business. this after the social network pays a record $5 billion fine to settle privacy concerns. and the proclaimed arrogance of silicon valley. ripple's ceo has called facebook's libra pitch to lawmakers somewhat presumptuous. we ask how the controversy is impacting the broader crypto market. but first to our top story, it is big tech's turn, facebook, tesla, alphabet, all reporting second-quarter earnings. amazon and alphabet reported results thursday. for alphabet it was all about sales and regulation. our guests weighed in. >> if you look at the way google gets revenue, about 85% of revenue at google is coming in from the ad business. i think, given the competition they will be fa

i am emily chang.k second quarter is out, the company can grow while feeling the heat from regulators worldwide. after the announced a settlement with the federal trade commission to end a probe in its privacy practices, the social media giant confirmed it is being investigated by the ftc on antitrust over its social media ads and apps. estimates,e users be but with its reputation under assaults, how? we have multiple parts of the government investigating facebook for multiple things. one of the most salient things about the settlement and the fine is that facebook did not admit they did anything wrong. we have not seen them show a lot of introspection about why all this happened and i think that is telling. unfortunately, the reason it happened is because they have had poor governance and it had bled out into all kinds of areas of their business and it is causing them long-term ongoing harm. emily: we are going to talk to one of the commissioners about the details of the settlement and how it will cha

emily: so, look.here were a lot of issues that came up, adjacent issues that facebook has been dealing with, misinformation, election hacking, fake news. would you like to see mark zuckerberg testify before congress on libra, specifically, and again on some of these issues? >> here are the circumstances with facebook. and my office works with facebook on a regular basis, and we are trying to get them, and we have made some progress. they have made progress, for example, on some of the disclosure products about facebook political ads, the same disclosure around tv and radio ads, but there are technical issues, and my background is in telecommunications. longer than i have been in politics, so i hopefully bring some expertise here, where we can bring more transparency to this marketplace, whether it is about data valuation, whether it is about data portability and interoperability. they have yet to be willing to lean in and acknowledge what they would be willing to support. mr. zuckerberg has said he re

♪ emily: i'm emily chang and this is "bloomberg: technology."p, growing a trade tensions between japan and south korea are threatening top and the global supply chain. we discuss which companies are being hit the hardest. plus, apple great -- downgraded. the most since it's -- since back in 1997. and facebook's nightwatch. how they are fighting fake news on facebook about facebook and paying tribute to game of thrones. but first, to our top story. while the world fixate's on trade tensions, another dispute between beijing's neighbors is weighing heavily on chipmakers. japan slapped restrictions on exports to south korea of crucial materials needed to produce semi conductors and screens. samsung slid nearly 3% monday. 5.5%.ix dropped together, they count for 60% of memory chip capacity. analysts suggest the applications may go beyond chips , upsetting the global supply chain from everything from iphones to laptops. joining me in the studio is bloomberg's ian king. why is this happening now? word --ood question question. it is something that goes

emily: i'm emily chang and this is the best of bloomberg technology. we will bring you all of our top interviews from this week. tech on the hill, antitrust and cryptocurrency under scrutiny this week. representatives from amazon, apple, google, and facebook all on the defense. plus, netflix needs to get stranger. stocks plunge after a subscriber miss. investors bet on new seasons of shows like "stranger things." elon musk claims his new technology can redirect mind, announcing his latest startup has successfully implanting wires into brains and enabling a monkey to control the computer. the next goal, human trials. we begin with the hearings on capitol hill. facebook, amazon, apple, google all appearing in washington to answer lawmaker questions on antitrust, social media, and cryptocurrency. the first to be raked over the coals, facebook, as the senate banking committee fired searing questions at the cocreator of the social network's cryptocurrency project. >> we will take the time to get this right. wouldn't it be easier and safer if people could se

♪ emily: i'm emily chang in san francisco and this is "bloomberg technology."ig tex under antitrust scrutiny -- big tech under antitrust scrutiny. opening a broad antitrust review. facebookazon, google, all in the crosshairs. softbank looking to launch a second tech fund on top of its vision fund. oh, snap. bullish bets payoff. four more users per day than percted -- far more users day than expected but can growth keep up? department of justice is set to open a broad antitrust review into big tech. they are looking specifically into whether u.s. tech companies hurto big that they competition. joining us to discuss, tom got gurman, and, mark ben rhody in washington. ben: we don't know a whole lot. we are looking at here is a sort of complement to a task force that the federal trade commission announced. doj share antitrust oversight. what is especially interesting that theye believed had split up the companies, the doj would only be looking at google and apple. now it looks like they could be looking at something more high-level. they could be doing criminal ref

♪ emily: i'm emily chang in san francisco, and this is "bloomberg technology."vm closes its $34 billion deal with red hat. our conversation with the ceos of both companies on the second largest tech deal ever. plus, ibm isn't the only one making deal headlines. cisco agreed to buy acacia communications. how does it fit into cisco's corporate makeover? and facebook unveils new diversity goals aiming to double the number of female employees globally over the next five years. why diversity seems to be the one big problem big tech can't solve. itst, ibm has closed purchase of red hat, finalizing the world's second-largest tech deliver. ibm was once synonymous with mainframe computing, but has been struggling to adapt in a cloud-based world. the company is playing catch-up to market leaders and offering software and services over the internet. bloomberg's david westin spoke to the leaders of both ibm and red hat earlier. >> i think, a lot of times people think everything is going to move to one public cloud. that is not what we see clients need, want, and are even ta

emily: u.s. federal trade commissioner noah phillips joins us to discuss facebook's record $5 billion penalty to put privacy violations behind it. facebook has announced it is being formally investigated by the ftc on antitrust. plus, facebook marching forward with at least one ftc settlement in its rearview mirror. the company posted second-quarter results, shares are up more than 50% this year as most of wall street says fundamentals remain strong. tesla resorts second-quarter results, the ev maker misses on cutting losses and wall street reacts. we will break down what went wrong and right. our top story, facebook out with second-quarter earnings, proving the company can grow advertising and users while feeling the heat from regulators worldwide. hours after facebook announced a settlement with the u.s. federal trade commission to end a probe into the privacy policies, the company confirmed it is being investigated by the ftc on antitrust as well. facebook was alerted to the investigation in j

emily: i'm emily chang and this is "the best of bloomberg technology" where we bring you all of our top interviews from this week. tech on the hill, all under scrutiny this week. representatives from amazon, apple, and google, all on the defense. plus, netflix needs to get stranger. stock plunges after a subscriber miss. analysts bet on new seasons of shows like "stranger things." elon musk announces his latest startup nuero link, successfully implanting wires into brains and enabling a monkey to control the a computer. the next goal is human trials. we begin with the hearings on capitol hill. googlek, amazon, apple, all appearing in washington to answer lawmaker questions on antitrust, social media, and cryptocurrency. the first was facebook as the banking committee fired searing questions at the cocreator of the social network's cryptocurrency project. >> we will take the time to get this right. wouldn't it be easier and safer if people could securely receive money transfers through their smart phones, just like they do for so many other things? emily: the chief was grilled on tuesday

♪ emily: i'm emily chang in san francisco and this is "bloomberg technology."ech giants visit the white house. the trump administration hosts some of the top companies to talk about the ban on huawei. libra pitch tok lawmakers somewhat presumptuous. and, deep fakes. from trump to pelosi to obama to zuckerberg, no one seems to be safe from videos that are so good that you can't tell they are fake. we speak to one company who says they can. heads of companies back in washington on monday. trump's top economic advisor in secretary called a meeting to talk about the trade war with china. one topic stuck out, the fight with huawei and whether the ban should stand. representatives from microsoft, intel, qualcomm, and more. what is the latest we know about this meeting? who was there? what was discussed? >> the meeting was called basically to hear a view from a business perspective. we do hear a lot about the huawei fight from the hawks and the administration and on capitol hill who obviously are in favor of a total decoupling of supply chains. this is a chance for th

emily: i'm emily chang in san francisco, and this is "bloomberg technology." microsoft extending its lead at the world's biggest company by market cap, and the only member of the trillion dollar club on the strength of azure. we will break down tech earnings so far and look ahead to next week. plus, what a week it has been for big tech execs on the hill. facebook and apple grilled by lawmakers. how these last few days have shaped silicon valley's future. moon choose to go to the and these other things not because they are easy, but because they are hard. emily: and we mark the 50th anniversary of the first moon landing. i speak with the captain for moonshot on nasa's legacy and why we should not be going to mars. first, to our top story, what else but big tech earnings? shares of microsoft jumping after strong fourth-quarter results thursday. the tech giant has benefited from ongoing strength in the cloud computing as your business. and microsoft has extended its lead over amazon, apple, and alphabet for the title of world's most valuable company. joining us t

emily: this is bloomberg technology. i'm emily chang.ff a bullish sales and profit forecast for the quarter, cisco is not standing still. cisco makes up the backbone of the internet and corporate networks and announced it would at $2.6 billion. premium toents a 46% the closing price on monday. that company makes products for cloud infrastructure operators and communication service providers. the deal is excited to close in the second half of fiscal 2020. to tell us more, we have lianna baker in new york and ian king who covers cisco for us. ian, what is the motivation behind this deal? ian: if you are cisco, you want to be selling the same -- don't want to be selling the same box everyone else is. they are getting technology, optical technology to put in that box and hopefully differentiate what they are offering and make the likes of google and aws come back to them and say we need cisco technology. what: talk to us about this does for cisco competitively in a market where we are seeing somewhat of an uptick in m&a. lianna: there has be

♪ emily: i'm emily chang.nd this is "best of bloomberg technology," where we bring you all our top interviews from this week in tech. coming up, little love for libra on capitol hill. fed chair jay powell says he has "serious concerns" about facebook's proposed cryptocurrency. plus ibm closes its $34 billion deal with red hat. our conversation with the ceo's of both companies on the second-largest tech deal ever. plus you will hear from the social network's global chief diversity officer. she tells us how facebook plans to double the number of female employees globally over the next five years, and why the company is setting such an ambitious target in the middle of a media firestorm. but first to our top story. facebook's plans to create its own cryptocurrency, libra, is not getting love from lawmakers. and you can add fed chair jerome powell to the list. take a listen to what he told the house financial services committee on wednesday. >> while the project sponsors public benefits including improved financia

emily: back to our top story.s of apple, amazon, facebook, and alphabet down on after-hours trading as the u.s. justice department says it is investigating whether tech giants are harming competition. the head of the antitrust division laid out the reasoning, saying without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands. and added the department's antitrust division will explore. -- explore these important issues. to discuss, we have chris calabrese, the vice president of policy for the center of democracy and technology. with us in the studio, eric hippeau, the managing partner of lerer hippeau. what is your take on the rising pressure at the highest levels of big tech? eric: it is a major reversal of the lack of enforcement we have seen in previous administrations. five of the top five companies in america are tech companies, and they are subject to antitrust activity. emily: used the word lax, implying that have not been doing

this is bloomberg. ♪ emily: this is bloomberg technology. i'm emily chang.k's history when it comes to fake news is infamous. from the disinformation campaign during the 2016 election to debunking conspiracy theories to doctored videos of house speaker nancy pelosi. but what about one those lies are about facebook on facebook? according to documents seen by bloomberg, the social media giant uses tools with names like storm chaser and the night watch. only this time, the enemy is not white walkers, but how the news is brett on facebook and on apps. to tell us all about it, kurt wagoner, and our editor alistair barr. what exactly is facebook doing here? kurt: a couple of different software programs, storm chaser, night's watch, which allows facebook to scrape the service. is a meme that is untrue going viral and how do we get ahead of it? they used it to find misinformation about facebook. for example, you might have seen the copy and paste memes, send this to 10 friends or we will delete your account. that type of thing that facebook would track that and they

♪ emily: i am emily chang in san francisco and this is "bloomberg technology."oming up, alphabet advances, shares spike after the tech giant says it managed to keep at business growing study. i spoke to alphabet cfo about how they keep it up in the midst of rising antitrust scrutiny. we will tell you what she had to say. plus, amazon falls. shares tumble after the company reports profits missed estimates . third-quarter profit guidance also a miss. up in smoke. jules defense of its marketing policy goes proof. the company is grilled by lawmakers in washington who say more teens are getting hooked. first to our top story, a tale of two earnings as amazon and alphabet report second-quarter results. shares of the parent company jumping while amazon is heading in a different direction. alphabet reported revenue that beat the highest estimates, calling concerns of slowing growth at the heart of the largest digital ad company. sales in the cloud unit grew by 37%, but not enough to top estimates. joining us to discuss -- you cover alphabet and amazon, so what is happen

. ♪ emily: i'm emily chang in san francisco and this is "bloomberg technology."n the next hour, crypto concerns. treasury secretary steven mnuchin joins a line of critics of facebook's libra as the social network prepares to testify at multiple hearings this week. amazon enlists celebrities to push its products on prime day with competitors like walmart and target. the chips are off the table. symantec and broadcom have halted deal talks. where does that leave them now? first, to our top story. big tex the big issue on capitol hill this week. tech the big issue on capitol hill this week. tuesday and wednesday, they will hear from facebook on libra. before the testimony steven , mnuchin taking aim at the social network. >> the treasury department has expressed serious concerns that libra could be misused by money launderers and terrorist financiers. emily: also tuesday, representatives of facebook, google, apple and amazon will defend their companies in front of the house judiciary in a hearing on antitrust. their goal is to convince lawmakers they do not stifle c

emily: hi. i am emily chang in san francisco, and this is "bloomberg technology." coming up in the next hour, microsoft defies gravity. the company beating expectations with a big lift from the cloud. plus, the congressman who says facebook's cryptocurrency libra "may do more to endanger america than 9/11." we will talk to california democrat brad sherman after blistering hearings for big tech. stocks died. , $15s fall the most billion wiped off the board. will the streaming giant recover? our top story, microsoft shares topping after fourth-quarter results that topped estimates. strength inontinued the cloud business. the ceo is working to keep up a steady flow of cloud deals to narrow the gap with market leader amazon and offering bundles including office, windows, and other security products as well. to unpack it all, we are joined by cloud reached ceo aaron paynter, who spent 14 years at microsoft in the u.s., brazil, france, and china, where he served as gm for a few years. also, a reporter from bloomberg intelligence. another big order from microsoft as expec

emily: i'm emily chang, this is "best of bloomberg technology," where we bring you the top interviews on tech. jay powell says he has concerns about facebook's proposed cryptocurrency. ibm closes with red hat. our conversation with the ceos on the second largest tech deal ever. you will hear from the social networks global chief diversity officer. how they plan to double the number of female employees locally over the next five years and why they are setting targets in the middle of a media firestorm. libra is not getting love from lawmakers. add jerome powell to the list. sponsorsthe project public benefits including financial access for consumers, libra raises serious concerns involving privacy, money laundering and financial stability. these should be publicly addressed. facebook has a couple billion plus users so for the first time you have the possibility of a broad adoption. if there were problems associated with money laundering, terrorist financing, many things, they would immediately, they would rise to systemically important levels because of the size of the network. it cann

♪ emily: i am emily chang in san francisco. and this is "bloomberg technology."oming up in the next half hour, tech companies being grilled on capitol hill. grilled currency and antitrust. what can congress do to alter the course? plus, president trump has an eye on google. he wants the attorney general to look into peter thiel's allegation that google's work with china is "seemingly treasonous." should google be worried? amazon is in the crosshairs facing antitrust. margaret vester prepares for a summer finale to her five-year crackdown on u.s. tech giants. but first, to our top story, big tech in the eye of the storm on capitol hill. facebook, amazon, apple, google, all appearing in washington to answer lawmakers' questions. the first to be baked over the raked over the coals, facebook's david marcus was the -- david marcus. the co-creator of the cryptocurrency project. senator brown: facebook is dangerous. now, facebook might not intend to be dangerous, but surely they do not respect the technologies they are playing with, like a toddler who has gotten a hold

>> greg: look at emily, she can barely control herself. >> emily: not for the reasons that you are sayingproblematic, top is for good gone is a tool of violent oppression. they should've combined the two movies "cats flying planes." >> lisa: i think you are on something. >> greg: i am on something. >> juan: you know that film is a tremendous success in this regard. i don't know how it did with women. but i must say that it was a great recruiting tool for the u.s. military. everybody wanted to be tom cruise. >> emily: i did. >> greg: [laughs] >> jesse: everybody bought the aviators. >> lisa: there such a built in audience that it should be flames up. i also like it when you do a sequel movie long after the original one. >> greg: there is an original movie? >> lisa: no, there is not. >> jesse: it is "the lying king." >> emily: a perfect instagram picture, not because they are near the beautiful blue water, because it is full of toxic chemicals, people are getting sick and it has gotten so bad that government officials are being ordered to tell people to stay away. this is the darwin awards,

♪ emily: i'm emily chang in san francisco and this is "bloomberg technology."oming up in the next hour, apple coming in with third-quarter results. revenue from wearables passing the ipad for the first time. and another first government revenue from services hitting an all-time record commit though still below estimates. sales in china not as terrible as some had feared. we will have all angles covered. plus, u.s. sanctions start to bite. the chairman of the chinese telecom giant huawei says there has been a dramatic slowdown in sales growth in the midst of the trade war. in exclusive interview, he hints at even tougher days ahead. capital one shares drop after a data breach. the company saying data on 100 million customers hacked. all of it stored on amazon web services. a former amazon employee has been charged. but first to our top story, apple shares spiking after hours after reporting third-quarter results. revenue topped analyst estimates. apple saying it remains optimistic about potential sales of new iphone models set to hit the market in the fall. for

emily: i am emily chang in san francisco, and this is "bloomberg technology." coming up in our next hour, netflix losing subscribers in the u.s. for the first time since 2011. what it means as the competition terms of the volume. plus, facebook's crypto crisis, facing a second lawmaker interrogation over the company's plan. congresswoman maxine waters called for the social network to "stop development immediately. " says narrow link has successfully in place wires into its brain and enabled a control a computer. first, netflix tumbling after the streaming giant reported a loss of u.s. customers for the second quarter. netflix that it lost 130,000 customers in the united states as a result of higher prices and a weaker slate of shows. it is signed up 2.7 million subscribers globally, also missing projections. joining us now to discuss the underwhelming results, michael luca, who of's course covers the company. michael, this is the first time the company has lost subscribers since they split the dvd and streaming business. what is the type line here? michael: you

ed: emily, back to you in san francisco. emily: looking forward to more from you from sun valley.oming up, uber is betting big on driverless cars. won'te ceo says robots completely replace humans. he will tell as his view on the future of autonomous driving next. this is bloomberg. ♪ emily: just ahead of going public in may, uber announced it was spinning off its self driving car unit. atg into its own corporate entity. this after receiving a $1 billion investment from toyota and a japanese auto-parts maker. that was in a deal that valued the unit at $7.2 billion. how long will it be until uber is completely autonomous? with uber'st down ceo to discuss. >> no drivers. be 15 pluswill years. i think it will take a long time. there is this drama around robots replacing humans. i think the reality of life is that the better thing is robots and humans working together. robots are very well-designed for replacing repetitive printable behaviors. most of driving is neither repetitive nor predictable. there is a subset that is. what you will see with our driverless program is that we will

emily: right.id they make a major miscalculation unveiling this now when they are not even going to launch it in a year, if they plan to still do that? david: it seems that way, and as i understand it, there was substantial disagreement in the company about whether now is the time to do it. mark zuckerberg and david marcus, i am sure, both wanted to do it, and they prevailed. mark zuckerberg is always going to prevail at facebook. but it may be that the naysayers were right. emily: meantime, kurt, alexandria ocasio-cortez, aoc, as she is known, called facebook a surveillance company, and while the hearing in which facebook was present yesterday had perhaps less fireworks, the broader implications for facebook are huge, a potential breakup call, calling attention to the idea that facebook could be a monopoly. paint the bigger picture for us here about everything that facebook is up against. kurt: well, it is pretty simple, right? we are already had a conversation about whether facebook had too much

emily's list.org. you can sign up for our run to win program if you are pro-choice democratic woman who has any interest to run for anything. we will put you into a program first online and then offer in person training. so, initially, after 2016, which is where so many groups like wonderful groups like run for something, dealing with younger folks. just across the board had all of this interest coming in. we did, too, by the thousands. in the first four weeks after the election we had over 1000 women sign up to emily's list wanting to run for office. we'd already talked to 920 the two years prior. this is like, ok, something is happening. that number is over 46,000 women today. it has continued every day. i getting email every morning about how many women signed up yesterday. sometimes it is five and sometimes it is 48. this year, right now. and they are signing up to say, i want to run. i may not know what for. city council, county commissioner. and we provide those tools. we are not seeing it slow d

emily: apple was.gy of some of these tech giants, letting softbank place some fund bets. sarah: there was so much skepticism around the first fund. $100 billion seemed impossible. for their first press release for that fund, they said we will deploy this cash over five years. it has only been three years and they are raising even more. in a way, that has been successful far more than anyone thought possible at the time. emily: you did one of the last big interviews with masayoshi son. sarah: yes. emily: he told you he thought it would last a while. sarah: he is such a big thinker. he was talking about how they would have a successive set of these funds. they would all be around $100 billion. he wanted to have a steady stream of cash to invest over time. emily: where are they going to put this? sarah: this is going to be harder because all the promising late stage companies they could have talked to about an investment, they have talked to everybody, they have invested where they can. this vision fund,

emily: can we trust facebook to do this?d marcus ran paypal for a long time after your time at the company, but facebook has showed that in many situations they can't be trusted. i saidgo back to what about facebook in the ad market. it is the job of u.s. regulators to not trust large companies, or any companies. their job is to audit, regulate, and provide rule of law for everyone. libra is interesting. it is facebook initiating this thing, other companies coming together to govern it. the government should take an active stance regulating libra. within that, they should not rely on facebook being a good company. i'm sure they will act in their best interests. companies will do the thing they need to do. our job is to protect consumers and ensure equal competition. made newser thiel this week. he called out google for being "seemingly treasonous in its worker efforts to get back into china." facebook has tried to get into china as well, but openly question whether google has been infiltrated by foreign spies. what is your r

this is 30 years of success of emily's list. i want to say it was maybe six years ago, i called our founders had been the president for 25 years and said i think we had four races, maybe five congressional primaries were there were more than one women. it's great. i said to ellen, how many of these did you have to deal with over 25 years? she said, something, i could count them on one hand. to the effect of i could count them on one hand. this is a cultural change that is going on. and it really is because we have been able to open up those doors. i stand upon on shoulders of women like ellen who came before me that allow this, that forced this to be available for women who wanted to take this on. what do we do now? the truth is the pro-choice democratic women who've characteristics, that is the baseline. the truth is most democratic women are pro-choice. the vast majority at this point. we are looking for in our candidates women who are, who are committed to their communities, who have a story to tell, who are willing to do the

emily: right.o you were not satisfied with david marcus's answers. tot would your answer be mark zuckerberg, the ceo of facebook? senator warner: my answer would be that blockchain offers an awful lot of opportunities, but you have a burden of proof, facebook, to make sure, one, that we get it right in treating this new network, two that it is safe. mr. marcus's comment that for every crypto dollar, there would be another dollar or another currency on a 1:1 breaking it up, that's next to the absurd when there is no such requirement in the banking system. it seemed to me, as well, where you have had facebook not be a good steward of so much personal data already, the idea that they would create this new network and not billed in implicit and -- they would not billed in implicit and explicit things for their product is a strange -- they would not build in implicit and explicit things -- when he said a third party wallet came around, and people do not want to use the so-called calibra facebook product

emily: thank you both.ing to monitor the output that investor call that is under way as well as amazon's. the ceo on the company's after growth that saw -- the company's growth after a quarter that saw a big revenue beat. >> every day, users go to youtube to learn new things. as a result, youtube is one of the world's most successful educational platforms. we see strong growth in a number of areas. buildrs continue to engaged fan bases. channels of engaged subscribers grew by 70% year-over-year. ofly: off the total cost revenue -- alphabet's cfo broke down the total cost of revenue. >> total cost was $70.3 billion, up 25% year on year. revenues on a consolidated basis was $10.1 billion, up 35% year on year. primarily driven by google-related expenses. 's cfo along with google's ceo continue to speak on their earnings calls. new high-speed internet customers offset the loss of traditional cable tv subscribers. coming up, e-cigarette maker juul the latest company to feel washington's ire. we look at their tes

i'm emily chang.le and goldman sachs' new credit card is weeks away from lunch, possibly as the first half of august. the apple card was announced on stage and an event in march, enticing consumers with no fees, iphone integration, and a privacy centric approach. apple, thepeaking of trump administration has rejected the smartphone's giant bid to avoid tariffs on computer parts it manufactures in china. apple will not be given a tariff waiver for mac pro parts made in china. make them in the usa. no tariffs. apple had requested key components to its new mac pro be exempt to 25% import tariffs after shipping production of the computer to china. larry kudlow echoed the president's remarks. kudlow: they have operations in china and he has encouraged the ceo -- we are very friendly with mr. cook. i meet with him a lot. he'd like to see the apple operations moved. i know there was some talk they would be moving production facilities to texas. i think that would be a good thing. that is our preference. emil