marc andreessen, partner with andreessen horowitz, joined us to discuss it. >> two possibilities, onety is we have gotten ahead of ourselves again as we did in the late 1990's, and things are just too hot. the other possibility is the world is going through a technical transformation, and it already was before covid, and it feels like the world is going to change in some fundamental ways. you have these tech companies driving these changes and realizing the benefits. >> do you worry the economy might soften at some point or just because of the business cycle the venture cycle will slow down a bit? >> it has a history of booms and busts. that said, we do not have a great record in our industry of predicting these cycles. i think most of how we either perform or fail to perform is micro, not macro, which is to say best -- based on the success or failure rate of the company. many companies have been formed during hot periods but also many during cold periods, so it is possible there's another cyclical boom and bust cycle. our plan would be to just keep going and keep investing in new com

marc andreessen famously said that software is eating the world.e software in your phone, thermostat, carpet i think ai will eat the software. we are a company who actually combines data and ai, so i think we are well-positioned here. emily: all right, ai is going to eat the software. thank you for joining us and congrats. south korea's largest online payment system has lowered its targeted ipo offering. regulators are asking the startup to revise its perspective after questioning tech valuations and comparisons with its peers overseas. south korea has been enjoying an ipo boom driven by a retail frenzy with $13 billion in first timeshare sales. the company behind the unofficial footwear of silicon valley has filed for an ipo. they direct to consumer sustainable shoe manufacturer listed the size of its offering as $100 million. the filing said net revenue for the first half was up 27% year on year but the net loss widened from $9.5 million in the first -- in the same period. coming up, the pandemic may have accelerated our use of technology but tec

dani: marc andreessen speaking with david rubenstein.atch that on the latest episode of "bloomberg wealth." let's turn to china, where beijing's crackdown on the tech sector has spooked investors, but the crackdown is not about big tech, it is about big capital. joining us is surely when, bloomberg opinion columnist. your piece, you argue that what is surprising is the scale. what do you mean by that? >> i mean that all these issues with big tech, for profit tutoring to ridesharing and videogame addiction, they have not been do. china has been talking about this since 2018. they have been trying to crack down these sectors, but this time the breadth, the depth, all of the bureaucratic administration is coming at big tech, from the ministry of education to the ministry of prince rotation. that is what i meant -- the ministry of transportation. that is what i meant. manus: i love the line that china does not seem to care how much foreign investors have lost. that may occur if capital flight keeps taking place. >> that goes to my point abou