an emily chang in san francisco. -- i am emily chang in san francisco.any's annual revenue surpassed a $10 billion for the first time. up 27% from the last year. joining us is the link in ceo. congratulations, good to have you. you took over as ceo in the middle of a pandemic. the whole platform was going through a transition. what was that like to navigate? ryan: by no means did i think i would be starting this role from my bedroom with my kids doing school work around the house, trying to navigate the company through a global pandemic. more than anything, i am really proud of how our company came together. we are in a place where over 6000 people -- this is tilting in what we announced yesterday. for the first time in history, 10 million dollars in revenue. i am very proud of that. >> you also talking -- you are also talking about this great change in the workforce. i am wondering what the changes are that you see. ryan: if you take a step back. by virtue of us being linked in and seeing professional conversations happen across the globe. fundamentally

money collide, from the ftse heart of silicon valley and beyond, this is bloomberg technology with emily chang. ♪ emily: i am emily chang in san francisco, and this is "bloomberg technology." dd opens 90% above its ipo price but loses almost all gains before the close. a live report on the chinese ride-hailer from aging and -- beijing and we will get investor reaction. crypto evangelist mike novogratz joins us to talk about the ups and downs of bitcoin. also, slack ceo stewart butterfield with new tools on a high-speed workforce. -- hybrid workforce. they are of work as he sees it later this summer. first, slow trading and small moves mark the end of the best first half for stocks since 1998. kriti: let's start micro before we zoom out. that is where a good chunk of the action is. ford down on the day 1% after nine plants reduced output due to chip shortages and parts shortages, hitting the industry broadly. this company finally getting unconditional e.u. approval for a takeover, crucial. and you mentioned didi, ending 1% after $4.4 billion was raised in an ipo. apple higher, but note they are

this is bloomberg technology with emily chang. ♪ caroline: caroline hyde in for emily chang.oming up in the next hour, we we head to texas where emily is at the blue origin launch site. find out what to express -- expect when jeff bezos heads to space. it could be the fifth biggest on the u.s. exchange in this record-setting year for public offering. globalfoundries looking to rebrand itself amid a chip shortage. a change in image and how it could impact the larger industry. first, we've got to get into the stock slump. around the world, warnings from health officials of a resurgence of covid-19. an escalation in tensions between the u.s. and china. >> it was a really big confluence. what i called a risk factor stew is what you are seeing. s&p 500 down 1.6%. you sawtek just a little more insulated with some of those other sectors. nasdaq 100 down. compared to the s&p 500 index, the bed bad. this coming as we start seeing yields down as well. a whopping 10 basis points. where did all the money go? treasury is a given, but where else? it went into the dollar, up 0.3%. there wer

this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco. by now, pay later. it is not a new concept, but it is the latest push by apple to get users to use apple pay. how it will rival paypal and affirm. plus, arianna huffington continues to thrive. her wellness company gets a $750 million valuation after raising fresh funding. what is next for the company looking to minimize burn out? could nft's for the washington wizards be a slamdunk? owner ted leonsis think so. we will talk about whether he thinks crypto will be a big part of the future of professional sports. that's later this hour. all that in a moment. first, we will look at the markets with kriti gupta. kriti: risk off day and it all had to do with the cpi. nearly double the surveyed amount. 0.5%, that is what economists were surveyed to really expect. 0.9%. once again, the inflation fears really strong, but it did not show up in tech sectors, cyclical sectors. it was across the board. risk off. we saw people take cash off when it came to the market and dive into treasuries. treasu

innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology," with emily chang♪ emily: i'm emily chang in san francisco, and this is bloomberg technology. coming up in the next hour, in full swing. intel reporting a lackluster third quarter sales forecast. what it could mean for the ongoing chip shortage. plus, penalties for dds. china continues its crackdown with regulators seeing the ipo as a challenge to beijing's authority. how badly could it hurt investors in the company? elon musk confirms that both spacex and tesla own and why they are continuing to pump and not dump. we'll get to that in a moment. but first, let's get to those tech results and let's see how the markets are reacting. lots of numbers rolling out over the last hour. how is it shaping out? >> a whopping near 16% gain for snapchat. emily, take a look at those shares. they are skyrocketing and continuing to climb. let me get you some numbers here. 293 million. that's how much the company reported last quarter, just shy of the 291 million estimates from analysts. seeing them beat in terms of ad

this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco, and this is "lumbar technology." it is a super tuesday for tech earnings. apple beating on the strength of iphone sales, this ahead of new iphones expected in september. plus, as it rebounds massively, alphabet turns in a strong quarter as advertisers and google cloud division seeing a spike. the search engine workforce growing 13% despite a hiring freeze. much of that growth in cloud. u.s. health officials recommending that even fully vaccinated people wear masks in public, indoor settings, places where covid-19 is spreading rapidly. what the cdc is saying about the about-face later this hour. first, a look at the markets with kriti gupta. major benchmarks all ending in the red. i wonder how much that cdc kind of had to do with it. kriti: that was part of the story but a lot of it came from abroad. we have been talking about this dip in chinese shares. starting to see it seep into broader sentiment. the s&p 500 down on the day 0.5%. and a lot o

this is "bloomberg technology" with emily chang. emily: i am emily chang in san francisco.ater. it is not a new concept, but it is the latest push by apple to get users to use apple pay. how it will rival paypal and affirm. plus, arianna huffington

innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang in san francisco and this is bloomberg technology. coming up, robinhood files to go public and lots of revelations. massive losses in the first quarter and crypto trading. we will cover it from all angles. plus, we dive into virtual worlds where ar, vr social networking converge. what are the opportunities? turns out there are a lot of them. jeff bezos welcomes an 82-year-old pioneer to the flight crew. i had up the new shepherd launch, now just weeks away. we will have all the details. she was supposed to go to space 60 years ago but never did. we will introduce you to her. all those stories in a moment but first, u.s. stocks advancing on a fresh batch of economic data. kriti gupta has the latest. kriti: the story today was low-volume. a lot of people during up for the july 4 long weekend. that results in the slope drifting higher. the s&p 500 up less than half percent on the day. you saw tech underperform. in relative to recent gains, half a percent is not th

emily chang, described the festivities last night. i saw a video of ms. os prepared it. emily: yes, we got a surprise visitor yesterday afternoon. jeff bezos and his brother showed up wearing the gift of food, which nobody here in the middle of the desert will turn down. he was carrying his mother's favorite recipes -- chicken thighs, black-eyed peas, mac & cheese. even give us the recipe. how generous of him. did not take many questions. but he was still excited. that is the sentiment he has echoed all along. we have not caught a sense of nerves. you notice the change now that he is officially on board. tom: that dinner sounds friendly. jonathan: i want to know if you can get served alcohol on this trip. tom: that will wait until the flight as well. but i hope, like the gemini missions, that there is tang on board. that would be important. jonathan: as we await the hatch to be closed, i wonder if you know the evaluations that need to take place on crewmembers. are they literally going to sit there and do nothing? we have been told is fully autonomous. wha

shery: let's ring in emily chang who is on the ground in tech -- let's bring in emily chang who is on ground in texas. what was it like being on the ground? we know vanhorn is a really small town. >> it was surreal. just as a spectator, it was a breathtaking experience. it was nerve-racking. maybe it is in the -- it is the mom in me. i was definitely anxious. even talking to them after the trip was also surreal because you felt like you are part of this history making moment. there has been criticism. there are people out there saying these are frivolous pursuits. we should be focusing on the problems on earth. everywhere you look at this, this was a huge success for blue origin. it took a long time. it was 21 years in the making. jeff bezos and the team pulled it off, which means this future space economy, space ecosystem he talks about is one big step closer to the possibility. haidi: one of the biggest highlights for me it that huge grin on the face of wally funk. 82 years old. she has been training for this moment for decades. she finally made it into space. it was one of the many

innovation, money and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang[audio drop] emily: this is "bloomberg technology." i am emily chang in san francisco. coming up in the next hour, the race to space. we look ahead to jeff bezos' flight crew. betting big on gaming. more on the company's decision to tap a former ea and facebook executive to lead the charge. former head of google ventures is putting a billion dollars to work at the intersection of technology and life sciences. where he sees the biggest problems that need solving as we emerge from the pandemic and how he is putting his money to work. all that in a moment, but first let's take a look at the markets with kriti gupta. kriti: a risk off day in the markets. you really saw it in the stock markets. the two extremes of the recovery trade, economically sensitive small-cap stocks and big tech growth stocks, both in the red. that is really where you are starting to see that large breadth of selling. s&p 500 down 0.3%. where is the money going? right into treasuries. those yields dropping about four

this is "bloomberg technology" with emily chang. emily: elon musk in court. the tesla ceo trying to defend the $2.6 billion purchase of solarcity in response to a solar lawsuit. we will bring you his contentious testimony from the stand. plus, beijing' azteca crackdown, focusing on ride-hailer didi which just went public in the u.s.. what will it mean for u.s.-china relations and financial relations? coming down to earth. we will look at virgin galactic shares after that triumphant trip to space by billionaire richard branson. it turns out the company needs additional funds. investors respond. first, u.s. stocks hitting records ahead of earnings. katie grayfield has more in new york. katie: both the s&p 500 index and nasdaq 100 and and at record highs. it probably helps that it was a pretty quiet day in the bond market. 10 year bond yields and it about a basis point higher. dramatic drop in rates. the nasdaq's golden dragon index fell about 0.1% in u.s. trading. it brings the total drop from the mid february peak all the way from 35%. china has been cracking

, this is bloomberg: technology with emily chang. cracks down. u.s. regulators halt initial public offerings of chinese companies.

, this is bloomberg: technology with emily chang. emily: the sec cracks down. u.s. regulators halt initial public offerings of chinese companies. plus one of the world's guest bitcoin bulls joins us. his company's stake in coin now gains $1.4 billion. this is more investors plow money into the crypto ecosystem. guests will tell us how they are putting their new crypto fund to work. and go puff closes a $1 billion funding round and a $15 million valuation. we'll talk about the need for delivery as covid cases continue to spike. first let a look at the markets. big tech giving investors some concerns today. >> who knew one earnings story contains the entire market and that's what happened with amazon earnings. you did see their net forecast missed from the first quarter. from small caps all the way to big tech, read on the screen. it had everything to do with consumer sentiment. he searches the spending slowdown which is an indication that amazon earnings give. i want to show you the spillover effect because it did hit other stops as w

from the heart of where innovation, money, and power collide, this is bloomberg technology with emily chang. emily: this is "bloomberg technology." elon musk in court, trying to defend the $2.6 billion of solarcity in response to a shareholder lawsuit. we will bring you his contentious testimony. plus, the government is focusing on chinese ride-hailer didi that just went public in the u.s. they are investigating whether the company violated data privacy and security law. coming down to earth, we will look at virgin galactic shares after the triumphant trip to space by billionaire richard branson. turns out the company needs additional funds as it prepares to bring tourists to space. and investors respond. first, u.s. stocks hitting records ahead of earnings. katie grayfield has more in new york. katie: it was a strong start to the week. both the s&p 500 index and nasdaq 100 ended at record highs. it probably helps that it was a pretty quiet day in the bond market. 10-year treasury yield ended just about half a basis point higher and that gave the all clear to stocks after last week's dramat

and power collide in the heart of silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco, and this is "bloomberg technology." coming up in the next hour, end of an era. as jeff bezos gets ready to step down from amazon next week, we will talk about his legacy at the company that has reshaped how we think about buying anything and everything. plus, natural gas fields in texas fueling bitcoin. we will talk about mining and its environmental problems with the key player on the texas prairie. and medical care from the air. drones debut as a way of delivering life-saving blood, vaccines, and we will talk -- and more. we will talk to a ceo about the global supply chain. u.s. jobs figures jumped the most in 10 months. finally some good news. >> absolutely, after two months of disciplining jobs reports from a positive payroll number and that help the s&p 500 closed 8.4% up. we have extremely low volume ahead of the holiday weekend. i want to show you the disparity between the tech stocks, up 1.2% on the day, and small caps encyclicals down

emily: i'm emily chang in san francisco, and this is "bloomberg technology."up in the next hour, end of an era. as jeff bezos gets ready to step down from amazon next week, we will talk about his lega

this is "bloomberg technology" with emily chang. emily: expected in september.

innovation, money, and power collide, in silicon valley and beyond, this is bloomberg technology with emily changemily: -- caroline: what about the future of space investments, so kathy wants is here to discuss kit big tech earnings season is in full swing. forecasts describe the growth waiting on the stocks. first, another great accomplishment in the billionaire space race. bezos and three others landed space for blue origins first flight to space with passengers aboard with an altitude of more than 62 miles. it is a milestone for the company that aims to make space tourism viable. what a day. emily: caroline, you could not have written a more poetic and to this chapter in jeff bezos's history. this is a dream multiple decades in the making for him, 21 years in the making for blue origin, and ever way you look at it, this was a successful launch. he made history today. he pulled it off. he proved that blue origin can save -- take humans to space safely. we got to walk -- watch from the vantage point. it was surreal. it was nerve-racking. it was breathtaking. after they came down to earth, i got

this is bloomberg technology with emily chang. ♪ caroline: caroline hyde infra emily chang.up in the next hour, we had to texas where emily is at the blue origin launch site. find out what t

emily: i'm emily chang in san francisco and this is "bloomberg technology."k earnings are out and the social networking warns that growth could slow this year when it comes to revenue. user numbers are in line, but investors

this is "bloomberg technology" with emily chang. >> i'm caroline hyde and for emily chang. in the next hour, the firm losing almost $20 billion in market valuation just three days after the company debuted as the larg

i'm emily chang in san francisco.omberg. ♪ the bait is how to get people back to the workers. you are flexible about the rest of the time. is that a permanent policy and for those companies that are saying you have to be back in the office 100% of the time, are they on the wrong side of the street? >> i think that in time, year from now we will have more of a sense of what the real structural change and needs and expectations of both our employees enter customers are and we will really think about long-term policies based on having all of that data behind us because otherwise i think we're trying to come up and being too overly dogmatic when i think we need to be more eric's -- experimental in our approach. program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation furnished by rare collectibles tv llc. announcer: our country was founded on life, liberty, and the pursuit of happiness. representing this idealism is our americ

emily: i'm emily chang in san francisco and this is bloomberg technology.o public and lots of revelations. massive losses in

. >> emily chang, your joining us now from san francisco. host of global technology. you just spoke about an hour ago with vlad, one of the cofounders and ceo of robinhood, how disappointed will they be with this drug? >> -- with this drop? >> you know, when you interview aco, if you asked him they are disappointed, they are not going to give you the answer you want to hear. it's more of a muted debut that we may have expected. this is still a circa $30 billion company. we will see where it ends up at the end of the day. for the yearly investors who put in $500,000 in money, that's now worth $3 billion. vlad told me it was surreal. it's an exciting moment to be here. he's really focused on the long-term now. the interesting part of this is that retail allocation, they said they would allocate 20 % to 35% for customers, somewhere between -- he wouldn't give me a direct answer as to how they decided the final number. but we will be watching investors holding onto these chairs. -- holding onto these shares. how does robinhood hold them to that? we don't know. >> in terms

this is "bloomberg technology" with emily chang. >> i'm caroline hyde and for emily chang. coming up in the next hour, the firm losing almost $20 billion in market valuation just three days after the company debuted as the largest chinese listing in u.s. history. more on chinese listings crackdown. more on the massive ransomware attack over the weekend with the global software supply chain. the white house says u.s. and russian officials will meet next week. andy jassy takes the reins from amazon. what that means, will he receive scrutiny in the overall transparency of the giant. u.s. stocks fell with a streak of seven consecutive record highs. u.s. treasury market is where the action was. yields at the lowest since february. there is a key picture that has big tech back on top. >> it was a risk day off on the market. you could see the 2020 trade. tech serving. that is what you are seeing. s&p 500 dealing with a lot of negative factors. the delta variant, the pfizer vaccine affect efficacy, and the potential for opec plus to not come to an agreement in oil prices higher. th

emily chang --the blue origin blast tomorrow. emily chang is leading our coverage there.istened to toby keith on the way, i'm told. jonathan: for our special coverage tomorrow. do you want to promote that? 8:30 eastern we will start some special coverage. tom and i will be hosting that. emily chang helping out as well. a whole host of reporters from bloomberg radio, tv, and quicktake. tom: i believe mr. bezos will have tang in space. jonathan: can you confirm? tom, i've told you repeatedly, people can't tell the difference between when you're telling the truth and when you are making stuff up. you've got to be careful. tom: no, i'm serious. bezos drank tang as a kid, and i'm sure he's going to be up in space -- i can't even say it. [laughter] subadra were joppa -- subadra rajappa is with us from socgen. what is driving the low yield? is the pricing in of global slowdown -- is it the pricing in of global slowdown? subadra: i thick it feels like a classic slide in quality. they have been reacting more to news flow and safe haven bids. there's general concern on the global e

innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: coming up in the next hour, tesla shares up in late trading after reporting second-quarter results. strong demand for its electric cars continuing as elon musk's company suggests this year's deliveries might exceed its projection for 50% growth. they continue to china crackdown rocking investors throughout the day, sparking questions about how far president xi jinping is willing to go to tighten his grip on the massive economy. robinhood reshapes how traders buy and sell stocks. now it is trying to entice them in companies that go public, including its own. the unusual decision to make its roadshow presentation public for all to watch. let's take a look at the markets with our own kriti gupta. mega cap tech leading the way. kriti: as you start to look at the surface level, the s&p 500 just closing up 0.2%. some yields higher, coming out of treasury. real yields hitting an all-time low. all of the action was in those tech stocks. take a look at the next part of the chart, the g

alix: that was bloomberg technology anchor emily chang speaking to jeff bezos and his brother, and shefrom vanhorn, texas. it was hard not to feel the enthusiasm in that room. emily: that was the first interview they did after landing, and it was surreal. i didn't go up in the rocket, but just the conversation itself was surreal. they were clearly in a great mood. it was far more than even jeff bezos, who had been dreaming about this all his life, expected it to be. we heard in their double down on the vision. they are building a road to space. they want space entrepreneurs to be able to build the amazons of space. what they don't have now is the infrastructure to do that. bezos wants to pave the way towards that infrastructure, and of course, this was just a sub-orbital mission today. this was just going to the edge of space and coming back down. the next step is orbiting the earth, and they are working on another rocket, the new glenn, that will presumably do just that. alix: so what is next? now that we have proven this use case, what is the focus for jeff bezos when it comes to blu

heart of our innovation collides, in silicon valley and beyond, this is bloomberg technology with emily chang. anchor: emily: i am emily chang in san francisco and this is lumbar technology intel ceo says the chip shortage will wind her for a couple of years but we are in for a decade of growth. i will ask hana how he is winning business back from amazon and alphabet. twitter shares rally on the best revenue growth in years. jack dorsey says bitcoin will be a big part of twitter's future. i asked twitter cfo on how he sees crypto being integrated into the platform. primus or spain taps into the energy of the u.s. tech ecosystem and bring some of it back home. the prime minister's out of a meeting with tim cook. we will see what was on the agenda. all of that in a moment. but us get a look at the market s. what an end to the week. what are you watching? reporter: we started the week with all those variant concerns. not really evolving at the end of the week. a similar story. we start the day with a lot of rot market gains but evolving into a tech outperformance kind of day. s&p 500 down 1%. st

this is bloomberg technology with emily chang. ♪ caroline: caroline hyde in for emily chang. texas where emily is at the blue origin launch site. find out what to express -- expect when jeff bezos heads to space.

innovation, power, and money combine in silicon valley and beyond, this is limber technology with emily chang. -- bloomberg technology. emily: this is bloomberg technology. coming up in the next hour. days away from jeff bezos launching into space. whatever happens, it will be a milestone for the space race. the space race is bigger than bezos or branson. the rash of cyberattacks is the new cyber -- pandemics. could following the trail of crypto be the key to stopping it? apple is getting in on the buy now and pay later trend, competing with incumbents like paypal and affirm. their cl will tell us how the competition stacks up. let's get a look at the markets. reporter: the first week of loss after three weeks and gains. you start to see a risk off day in markets when it comes to be stop markets. s&p 500 down three quarters of a percent. where did that money go? straight into treasury. yields coming in flat on the day but started much higher and ended up flat. it tells me that the bid for treasury is alive. it is in those semiconductor stocks. this is the two-year chart here. you have this bi

heart of where innovation, and money buying, from silicon valley, this is bloomberg technology with emily changs is bloomberg technology. in the next hour, amazon under the ceo, the giant falling short of estimates. we will talk about the post-pandemic future of amazon.com.

i am caroline hyde in for emily chang. the stories of the day. >> widespread selling and big tech was no exception. for the most part, those record highs did not last. microsoft and apple. i really want to go and show you what is being done to those bank stocks broadly. you have american big tech reaching those record highs. the likes of didi and alibaba, those are holding the stock exchange back a little bit. that is what this chart is showing. as we are talking about risk sentiment, we have to talk about bitcoin. it is turning into this macro risk sentiment indicator and it has not been doing so well year to date. you are starting to see this decline and you are seeing it as lower. caroline: so much for the diversification trade. overall, a risk asset, it would seem. let's turn to the world of tiktok. there is uncertainty and that juáhj)q @ platform is turning short form videos into a seriously look at business. while content creators are making money on the platform, there is a significant audience turning to social med

from the heart of where innovation, money, and power collide, this is "bloomberg technology" with emily chang. [no audio] -- forecast. what it could mean for the ongoing chip shortage. penalties for dds, china continues its crackdown with regulators seeing the ipo as a challenge to beijing authorities . how badly could it hurt investors in the company? elon musk confirms that both spacex and tesla own and why they are continuing to pump and not dump. let's see how the markets are reacting. lots of numbers will link out over the last hour. how is it shaping out? a whopping near 16% gain for snapchat, the shares are skyrocketing and continuing to climb. 293 million, that's how much the company reported last quarter, just shy of the estimates from analysts. seeing them beat in terms of ad revenue and active users with twitter getting a higher bump. still up a whopping 5%. nothing shabby there, but i want to point out that the revenue has jumped 74% year-over-year, the big advertising lot that we saw last year, it looks like they are getting a comeback. intel, not coming out with great numbers as

. ♪ emily: i am emily chang in san francisco, and this is "bloomberg technology."st all gains before the close. a live report on the chinese ride-hailer from aging and

>> from the heart of where innovation and money collide, this is "bloomberg technology," with emily chang. >> tech star power, jeff bezos came out of the shadows in sun valley and we will have the lehto's -- the latest. and the new trend on tiktok is big business and i will talk to one of the biggest influencers. she is known as robinhood kid over on twitter. first, u.s. stocks dropping the most in three weeks amid growing anxiety over the covid 19 variant or perhaps just starting to see that data rollover. no place to hide next year? >> absolutely. where did it go? lower and lower and it wasn't enough to lift the tech stocks. wide set -- widespread selling in risk assets, it was a safety trade that was active and it took a massive -- massive hit to the head, whatever you want to call it in the text fear, down 1.2%. that's the sector i want to zoom in on because we are once again talking about the underperformance today and it has been a pattern all week, down nearly 3%. the story from a few months ago was the chip shortage but that isn't the story anymore. they say the trade is overplaye

crude flight to space and jeff described his experience from earth and seeing our from space to emily changcan see it is just one place. there are no boundaries. no national lines. nothing. we have seen earth's atmosphere. it is so big. it seems gigantic. when you get up there, you see is this teensy thing we need to protect. for me, it was incredible. rishaad: space race special. a special report on the business of spades on saturday, at seven hong kong time. we have interviews in the next hour. bloomberg markets. we will talk to the founder of a food startup. we have a filipina finance factory carlos tremendous -- to make us joining us in a few minutes. yvonne: we're taking stock of the economy drilling from the pandemic on the cusp of tighter restrictions. will he get to the 4.6% projections? unlikely anything will be 4.7%. the feds downgraded its outlook for the philippine economy. if you take a look at the peso, worst performer the last three months. david: quite literally. as you look at the market, 1.5% of the downside. one market we are watching closely, we are down 100 points. the

this is "bloomberg technology" with emily chang.emily chang in san francisco, and this is "lumbar technology." it is a super tuesday for tech earnings. apple beating on the strength of iphone sales, this ahead of new

we will go right now to emily chang. ant to welcome our bloomberg television and radio audience on the day we are all waiting for robinhood to start trading. joining me is robinhood ceo and cofounder vlad tenev from the nasdaq. so great to have you back. i know this is been a long journey. there been high highs and hard blows and a big vision to democratize investing. we are looking at chairs indicated open at $38 apiece, about where you priced. how are you feeling at this moment? vlad: is a surreal moment. it is humbling that six years after we launched our product to the public we have over 22 million customers and we are on these journey with our customers , allowing them to participate in the offering. emily: speaking of your customers, you said you would allocate 20% to 35% for robinhood users. we are hearing in the range of 20% to 25%, still one of the biggest allocations ever. how did you get to the number and are you concerned about volatility? vlad: we certainly are proud to have one of the largest retail allocat

. ♪ caroline: i am caroline hyde in for emily chang this is "bloomberg technology.".s. stocks rose to record highs again. even the nasdaq managing to eke out a tiny gain. kriti gupta has more. kriti: yields are dropping lower so people are buying treasuries. you have a risk sentiment higher. looks like they have restarted it a little bit. let's take a step back and assume out, look at the trade that has been doing very well. you mentioned the nasdaq, it doesn't seem like that growth stocks are facing just as much pressure downward as they did earlier in the year. it is starting to slant higher a little bit when compared to hotel stocks, really showing that recovery trade. not doing so well in the month of june. what isn't doing so well, some of the subsectors of the tech trade. remember when it used to trade as a bundle? if big tech did well, it trickled down to other stocks. none of that today. gold dragging the index. shareholders of the ipo coming back and saying that is not fair, a lot of us early investors not getting the deal they want. it is strictly down into

emily: i'm emily chang in san francisco and this is bloomberg

. >> i am caroline hyde in new york, in for emily chang. coming up in the next hour, bitcoin jumps 32,000. both tesla and spacex, this is just a day after crypto's drop of about 50%. let's talk about the volatility. the copy further transitions into the digital first world. we talked to brett taylor about the future of hybrid work and how slack fits into the overall business model and what to do with will smith, odebrecht him junior and kevin durand. we will see what they all have in common. we will get to that in a moment but first, let's get a look at the market. >> a green on the screen kind of day. the s&p five -- s&p 500 is up. tech was still in on the rally. you always want them on your side when it comes to a broad valley. the yield is higher as well. that bid we suffer treasury did not really last today. money is coming out of treasuries and going into stocks. all of that green on the screen has to do with tentacles in particular. the s&p 500 is bouncing up. i believe we have a terminal chart that we can show you. that pink line is

let's get more from bloomberg technology's emily chang. let's start with apple, a record-breaking third quarter but there were some flags to potential downsides to come. emily: of course, tim cook talked about how he sees optimism returning to consumers but there is uncertainty ahead. on the same day we got the new guidance from the u.s. and the cdc about wearing masks indoors. by all accounts, it was a strong quarter for apple. this is a quarter before they unveiled the new iphone. still, across the board, it was a record quarter for services and a huge quarter for apple. again, it is about how things are going to continue to evolve. they did say almost all retail stores are open but as we have seen over the last year, retail stores do not need to be open for apple to have strong results. i really have my eye on the coming iphone that we will see in september and whether or not the next cycle will be a big upgrade cycle or super cycle as they say. shery: i am waiting for those iwatches. trying to upgrade. let's talk a bit about alphabet,