this and how much you pushback should we expect on this pick given what we've already seen with lina khan >> i think it's hugely significant. if you look at who the progressives have wanted to put in that spot since the beginning of the biden administration, this is who they want. he is the person they think will be the most aggressive, bring the most cases, bring the department forward as they see it the fastest so this is who they want and i think if you're google in particular i would be shaking in my boots and use some of those lobbyists that we just talked about to really push back gendz the kinds of things that he could be bringing down, whether it's future cases, whether it's mergers or litigation strategy because the cases have already been launched. how tough is the gop going to be in that room i think that's what boolgoogle s to worry about now >> do you think they should recuse himself because of his track record and what else should google be doing to prepare itself for this new administration >> in some way webs this case is already going. now it comes down to strategy. the r

who is lina khan? why are these companies so concerned? let's take a look.ina khan took the helm of the ftc, setting the stage for a showdown between washington and silicon valley. khan is one of the most outspoken critics of big tech, which see that she says has gone too big and should be -- and should face tough questions. before the ftc, she served as a columbia law antitrust associate professor and an advisor to the house judiciary subcommittee taking on antitrust issues. she is perhaps best known for her award-winning article calling for greater scrutiny on the e-commerce giant amazon. all eyes are now on how she puts her views of big tech's so-called monopolistic practices to work. you can catch up on our special show on bloomberg television throughout the weekend, starting 7:00 p.m. friday wall street time, 4:00 p.m. right here on the west coast. you don't want to miss it. if you have had trouble following all of these cases going back and forth, this is your way to understand what's going on. that does it for this edition of "bloomberg technology." i

they are going to do the same thing that amazon is doing right now in terms of lina khan.ck amazon from buying mgm. they want lina khan as the head of the ftc to basically be out of that ruling to recuse herself from the ftc ruling on that, on the purchase of mgm which she signaled she's opposing on anti-trust grounds, and i think what you're going to get out of google at least that's what we're hearing is the same thing here, asking mr. kanter, asking the court to essentially take mr. kanter out of the case and it's going to be a very interesting thing if that happens it's going to obviously be a hugely controversial move to keep him on the case because he obviously has been paid to go after google in the past and it's a little different than lina khan. again she was an academic, so we'll see what happens, but the headline here is the biden administration, from what we understand, fox business has spoken to numerous sources in the anti-trust world particularly lawyers that represent companies and talk to dodge anti-trust that they are planning or at least talking about an

they hate lina khan. back to you. neil: they do hate charlie gasparino. charlie: i think so.when lina khan is just, if she has her way, let me tell you something, amazon will be back to selling books, and nothing more. neil: wow. we'll have to watch that one very closely, my friend, charlie gasparino on that, technology stocks, holding their own thus far, we'll see how long they could lost if this ftc has to really make end roads in the meantime, following what's going on in california, you know a lot of school districts there are demanding kids returning to school still wear masks, and now a lot of california parents are saying what! >> ♪ ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's why we'll stop at nothing to deliver our technology as-a-service. ♪ experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing. in business, it's never just another day. it's the big sale, or the big presentation. on the 2021 rx 350. t

>> reporter: you know, lina khan's namesake was called in the anti-trust paradox her views have been out there for a while. for her to recuse herself, one of the commissioners has to ask her to do that that hasn't happened yet clearly, tech companies are watching this because it does signal the scrutiny of mergers past and present >> ylan mui with breaking news on the single most important sector, maybe not just for the u.s. stock market, ylan, but the global stock market. see you later on today thank you very much, ylan. >>> now to your money and how the global markets are setting up their friday. a nice bounce back we are higher. not up on the nasdaq up 18. dow futures up 165 all this after the markets took a turn down on thursday with money coming out of nearly every part of the market unless we get a big move higher today, and we could, the dow is set to drop this week. it is down over 1% right now bond yields have come down mightily in the past couple of weeks, as a matter of fact yields on the 10-year note are holding steady at 1.33% they fell as low to 1.25% yesterday. that is

>> cmp. >> lina khan -- >> everybody's very scared of her. >> they are scared of her. kind of like a tr >> ooh, i like that. that tune is taking me back. >> by the time we get to woodstock, lina khan is going to crush it. >> really? >> the family stone instead of that. >> sky works and corvo are the number two and three on the s&p. >> clairvoyant liam griffin is such a great guy. you know, he is a sox fan and patriot's fan. got to be from tampa bay. >> i'll try and find one. >> energy company. >> sure, whatever you need >> we got a million things to get to and you're talking about football >> i think vir tiff is the best spac and it was the first spac when you look at citi, wow, they've spoken the market has spoken and citi is the winner. it's not as bad as it used to be. >> it's also been the underperformer without a doubt. >> that was the headline we're in the as bad as we used to be. i think that was the headline. >> a market cap below that of morgan stanley, not that far from goldman sachs this is citi, a large global behemoth >> i'd love to work that word in morga

correct many if i'm wrong, it doesn't sound like amazon's letter has you convinced >> the chair, lina khanate for business, she just opposes monopolists and sees the law in a particular way you'll find the biggest enemy of the competition and open markets is a monopolist and that's what you're seeing here. >> is there precedence for a move like this, for an actual rec recusal? >> not the way amazon is asking. amazon mischaracterized the precedence here. no one has ever said that if you're an enforcer and have specific views on the law, that you have to recuse yourself. that's just kind of silly. >> matt, we saw a judge this week really press facebook's critics at the federal and state level on how they define a market, and whether facebook really is a monopoly how is amazon a monopolist when it has arguably 50% of less even of the u.s. e-commerce market? >> it is a great question. i think you can look at a bunch of different -- you can look at -- you can define markets in lots of diffes of different way. amazon has monopoly power over books. you look at that specific sector of the market a

get a court to intervene just the same way as amazon is doing and i believe apple is doing, with lina khaning on some amazon cases, including its purchase of mgm studios, but the biden administration, from what i understand, feels pretty confident he's going to even withstand that. they feel very confident he's going to get through the senate despite the fact he could raise issues on his conflict of interest and he's a hard and progressive and one of the reasons why is because a lot of gop conservatives can't stand tech either, so the perfect storm is brewing. you wouldn't see it in the stock price of google or most of the tech shares, liz. investors are not really counting the regulatory risk and the breakup risk in these companies, and the risk that government does allow them to get bigger, but there's no doubt that the biden administration is putting together an anti-trust team between tim woo, between lina khan, between jonathan kanter, that has got a bullseye on the back of the big tech companies, and from what i understand, it begins with this waiver that they seek, so jonathan kante

plus, amazon versus lina khan. >> and china's warning for the world, president xi saying it will no longer be bullied and if anyone tries they will meet a great wall of steel. jim, though, lots of stats to kick around regarding the first half, dow up 12-7 for the year >> i thought it was interesting brian sullivan on "worldwide exchange" had an incredible chart. even though the market was up 15%, there are many years where it's been up much more, '43 it was up much more, '87 it was up much more in the first half. '87 i know didn't lead to the right conclusion what it said to me is don't think it's too high. it can go higher, and the makeup of how this got there, very exciting to me the industrials and that leapfrog pharmaceuticals off of covid, and then we had a tremendous run of the consumer and then faang gets in, and then it finished with the semiconductors david, and then oil of course was a theme throughout david, this was a market that had something for everyone >> okay. and will the second half similarly have something for everyone, or do you think you're going to need to be a bit m

not anymore. >> conversation about antitrust, who's going to buy them. >> not lina khan it's hard to name that you got to wonder at some point whether they'd like to sell. >> altice could go. >> not anymore. >> lina khan. >> unless you were to merge wireless, and again, go back to that, remember, verizon talked to charter they had some fairly serious conversations. again, antitrust, i don't know, are any of those deals going to be allowed under this administration >> we don't know we still have a judiciary in this country. >> we do they could side with the companies. >> as i said earlier, you've got to be prepared for a two-year review and possibly going to court, but you're right, you're right. you could win. >> right >> heck, time warner won, at&t won. took a while. >> why'd you bring that up >> because it was the last case the u.s. major case u.s. government brought and they lost. >> boy, the government should have won. >> they should have called the deal off >> not time warner shareholders. >> i have to tell you, i watch the futures from the moment i get up, and every day it's th

. ♪ ♪ emily: a story we continue to watch -- amazon wants ftc chair lina khan recused from any mattersng the company because she khan a history of criticizing the online retailer as a threat to competition. khan wrote a law school paper called the amazon antitrust paradox. the ftc is reviewing the 8.5 million dollars amazon acquisition of movie studio mgm. tiktok removes 700 million underage accounts that belong to children under the age of 13, cracking down on enforcement of its required minimum user age. in 2019, tiktok had to pay the ftc $5.7 million for collecting child data. coming up, talking about didi, the big chinese ride-hailer going public in the u.s. that is next. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you re

terms of making new acquisitions we can all imagine that will be the case certainly as well with lina khantone from both sides of the aisle, there is some bipartisanship on this the tech is too big and powerful this is one of the most powerful names there is. >> the people love free search the government, it's interesting that the the one thing people love, they love amazon, alphabet, google they love facebook or else they wouldn't be looking at it every single night they love apple. i think the apple news feed is the way i now read things for heaven's sake. what can i say the only thing i'm coming after is netflix because they didn't have a really good schedule this y year. >> meanwhile you're talking about companies that are well over a trillion dollars in value. >> big is not even the word. >> when you and i, you know, were younger men we could never have imagined companies of this size in terms of market value. $2.4 trillion. >> i remember, david, when merck passed u.s. steel. i remember when coca-cola passed -- david, those were halcyon days, we just didn't know it. i know we have to

in tech news, amazon is seeking to force the new chair of the federal trade commission, lina khan, to recuse herself from anti-trust investigations into the company due to her past writings about the company. as a student at yale law school, khan wrote a widely read paper detailing how anti-trust laws had failed to prevent amazon from growing into a monopoly. chinese president xi jinping spoke before 70,000 people in tiananmen square today to mark 100 years since the founding of the chinese communist party. during his speech, xi pledged to reunify taiwan with china and warned against "bullying" by other countries. >> the chinese people have never bullied, oppressed, or subjugated the people of other countries. we have not done that in the past. we are not doing it now. we will not do it in the future. at the same time, the chinese people will never allow any foreign force to a bully, oppressed, or subjugate us. anyone who dares to try to do that, will have their heads at her in front of the great wall of steel. amy: in related news, the financial times report the u.s. and japan have b

so amazon be a natural place to put viacom cbs because there's no real overlap but you know, the lina khanld is talking big, making big noise about merging here, it's not, it's going to be a tough one in the near term. long term comcast could be out there, people are talking about zaslov coming back making a deal at some point. it's all out there and it's clear that shari redstone knows that being a big fish, being a little fish in a big pond is very difficult. you need size and scale. ashley: yes it is. charlie: that's why there's lots of talk about her talking to people and doing mergers. back to you and enjoy your meatballs this weekend of beyond meat. ashley: hang on, hang on. beyond meat is on the phone, charlie. yes, yes, all right, i've given them your number so expect a call in about two minutes charlie gasparino, interesting stuff as always, charlie, thank you very much. go beyond meat. all right, the grand reopening creating very real opportunity in one of the economies key sectors, randy anderson will give us the top plays for post- pandemic portfolio success, not easy to say, t

office, biden has tapped three leading critics of big tech to top positions -- kanter at the doj, lina khanto head the federal trade commission, and tim wu at the national economic council. the president of the upcoming u.n. climate talks in the united kingdom has urged nations to ban the burning of coal as part of an effort to reduce carbon emissions. alok sharma spoke to the journalism collaboration covering climate now. i want cup 26 tbe the cop -- if i talk out the youth's own joney when it comes to coal power, in 2012, less than 10 years ago, 40% of electricity was ming frocold. we are n less than 2%. 2024 by which we will be coal-free. amy: the u.k. will host the next u.n. climate conference in november in glasgow, scotland. in other climate news, in southwestern iran at least three people have died in protests sparked by a massive water shorge. protesrs have tan to the streets fothe past sen days. iran is facing its worst drought in 50 years amid soaring summer mperatures in cana, policin toron arrested6 peopleednesdays authorities forcibly evict unhoed residts ling in a campmentear

. >> facebook is seeking the recusal of lina khan judge rejected the ftc's previous complaint now withcomplaint coming up at the end of the month, facebook is arguing that khan, who has written extensively about how anti-trust laws should be applied to tech giants can't be impartial. facebook writing in its petition to the ftc, quote, when a new commissioner has already drawn factual and legal conclusions and deemed the target a lawbreaker, due process requires that individual to recuse herself from related matters when acting in the capacity of an ftc commissioner. facebook telling us in a statement, quote, that chair khan has consistently made well-documented statements about facebook and anti-trust matters that would lead any reasonable observer to conclude that she has prejudged the facebook anti-trust case brought by the ftc. we reached out to the ftc. they have no comment on facebook's filing and this filing, of course, comes just two weeks after amazon filed a similar recusal petition it does also face multiple ftc investigations we also reached out to google. it faces similar a

this new chair of the sec, lina khan, she is serious. she wants to ring their bell. the traditional sense, in fact, she wrote a great piece for the yale law review, so she talked about the paradox about this being a monopoly but not by traditional sense, and she's going to try to rewrite the rules. do you think she'll have any if success? >> you know, if you rewrite the rules the way she wants to, it is anti-capitalistic, right? this is about a business model that succeeded. it's really the ultimate digital giant. they have driven down prices, improvedded innovation, they've given customers more choice, they've created ecosystems where other people are making money x if those things reville and bad, then -- are evil and bad, what's going on with capitalism? if that's the hallmark of capitalism. that shows that our business model works. this a shows that capitalism is successful, and if you want to take down the most successful company in this space, then i don't know, i don't know what's up for the future of america. charles: let me ask you about this new film, it's

you have lina khan at the f t c, mr. kanter at the doj, people populating the biden regulatory apparatus who don't come from the judge borque school of anti-trust which you have to show consumer harm. they are much more in the lewis brondice mode which is these companies are too big and powerful, they need to be broken up. whether they can break them up i have no idea but this is going to be very interesting, how bezos and jassy go forward with this type of regulatory scrutiny they are already under scrutiny for the mgm purchase. they want to buy other stuff, we reported earlier they want to get into pharmaceuticals and maybe betting. this is going to be very interesting, big tech is going to come under big pressure in the years ahead as long as biden is president and the crew running the show from a regulatory standpoint stays there. liz back to you. liz: yeah, the republicans weren't too thrilled about big tech either let's keep that in mind. charlie: it's a huge difference, liz. they don't look to breakup. they did no

. >> you don't think lina khan's smart? >> she's very smart. >> get yourself ready for a mad dash we got that coming up. it's the last one of the week, of course, including the of course the last trading day of the week take a look at futuresment we're back right after this. ♪ music ♪ back right after this. we're back right after this. we're back right after this. we're back right after this. . we're back right after this. ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq >>> time for a mad dash, as we get ready for an opening bell 6 1/2 minutes from now gm. >> you've seen gm move, dan ives, who's all over the place, he did emphasize at 116 you should buy apple nice call. he says there's going to be a rerating of gm because they

i would also note, senator lee, that lina khan was just named the chair of the ftc, an interesting development from an antitrust standpoint. with that, i will turn it over to many mccrate, if you'd like to proceed. mr. mccrate, i know you're remote. theryou are. oops, we can't hear you. les try this again. [no audio] >> you want to -- >> [audible] >> okay. do you wan the start now? start over? okay, it's not working again. do you want to go to maybe us, it may be on our side. do youdo you want to go to mr. n first and then we'll go to mr. mccrate? >> can you hear me okay, senator? >> yes, i can hear you. mr. wils, thank you. welcome back. enter thank you, chairwoman klobuchar, ranking member lee and distinguished senators of the subcommittee. thank you for the opportunity to appear before you again today. my name is wilson white, i'm a senior director on the government affairs and public policy team at google where i lead our policy efforts for connected devices and the android operating system. increasing access to the benefits of technology is what motivates me to come to work every day. at

going to come under a lot of pressure from the biden administration on anti-trust issues, already lina khanng them and very negative things to say about amazon when she was a law student she wrote a treatus on why amazon should be broken up called the amazon paradox and we have to see who gets put into the justice department anti-trust division but the word coming out of there , whoever gets appointed the permanent head of that is not going to be an amazon- friendly person, so, this is kind of interesting, bezos, whose been the face, takes a back seat while the company comes under this regulatory scrutiny. jazzi becomes much more the public face but from what i understand, bezos is going to be there, and he's still going to be running the thing largely, and you know, we ask like where is amazon going to expand if it, you know, particularly if it has problems with the f f t c, you can't have major acquisitions, they are likely to challenge their purchase of mgm. they could get into sports betting it's a natural outgrowth , not something that's highly anti-trust laden, also, pharmaceutical ma

in april, well, first let me say, i know earlier in the hearing i heard senator klobuchar welcome lina khan -- >> i don't think it's officially announced yet. >> but i want to welcome her to the ftc and a single begin a new chapter in the ftc's work and a look for it to working with her and the entire ftc, as does senator klobuchar in this vital area of enforcing antitrust. in april this subcommittee held a really compelling hearing on competition in the app store marketplace, familiar to all of you. we heard really stunning reports about how google and apple use their control over the app stores and mobile operating systems to extract rents come really exorbitant rents, and exclude rival products. one of the witnesses was tile, and internet of things product designed to help consumers find their lost items, as if to illustrate the point right before our app store hearing apple launched air tag, which appears to be a carbon copy of the tile product. at the hearing hile shared its concern to apple was using its control over iphones and apples operating systems to unfairly limit competition b

under the biden administration with lina khan at the helm of the ftc and the anti-trust regulator instepping up i think there's been a lot of discussion about how do these two anti-trust companions compare and interact the reality is in china. beijing is not going to break up the big tech platforms that's not on the table. what is is using a number of different domestic regulatory tools to chip away at the power. one of the tools is data security regulation. another is anti-trust. looking at things like predatory pricing, competitors on the platform bundling of financial services i think the companies, didi, in particular, they have a target on their back and regulators are using different bullets to chip away at the power. >> samm, if you get in the mind of xi jinping, is it about keeping power? authoritarian power over companies letting them know you are operating and we love you to do well, but when it comes down to it, we're in charge or is it about how much this data is worth? it seems like it always comes down to money and economics with china. with us, too a, about privacy da