joining me today on "bloomberg studio 1.0," sinovation ventures ceo kai-fu lee.ou came to the u.s. in 1973. you were 12 years old and moved to tennessee. tell me about what must have been culture shock in that moment. kai-fu: i did not speak a word of english, but the people were extremely friendly, that southern hospitality. i made a lot of friends. in class i was totally lost. they were teaching in front and i was reading my chinese books. emily: somehow you caught up because you went to columbia, phd at carnegie mellon. you were working on speech recognition, of all things, which now four decades later is the forefront of new technology. kai-fu: also artificial intelligence, machine learning. it was an exciting age when there is so much unknown and so much naÏve optimism, but it is gratifying to see finally all of that coming to the real world. emily: you joined apple in 1990. how closely did you work with steve jobs? kai-fu: i always say i was there between jobs. my tenure at apple, i joined as he left, and after i left, he came back. we did have some interse

emily: talk to me about sinovation ventures.t more than a billion dollars under management. where do you think are the hottest places to invest your money right now? kai-fu: well, artificial intelligence is our big bet. we are investing in ai applied to think tank for use in banks, insurance, customer service. we are interested in ai's use in health and medicine, autonomous vehicles. we invest in robotics, primarily industrial robotics, because i think that is where people can see making money or saving money. we are invested in new types of sensors that will bring, way down, the cost of autonomous vehicles and robots, so ai is probably half of our fund, but under ai there are six or seven areas where we invest in. emily: we have seen shares of the big tech companies like tencent continue to rise. where do you see the valuations of chinese technology companies goingm public and private? kai-fu: china's market for internet companies is larger than the rest of the world, so current valuations u.s. to china for roughly close to one

ofly: kai-fu lee, ceo sinovation ventures, thank you for joining us on the show.g us on the show. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. scarlet: i am scarlet fu. this is "bloomberg etf iq." we focus on the access, risks, and rewards offered by exchange traded funds. ♪ scarlet: the republicans' long-awaited tax cut has the dow jones etf kicking in cash. and bitcoin etf filings, we look at what regulators want to see. bullish on china and the internet. put them tog

emily: talk to me about sinovation ventures, more than $1 billion under management. think are the hottest places to invest your money right now? kai-fu: artificial intelligence is our big at. we are investing in a i applied ch ford tech -- finte banks, customer service, ai's use in health and medicine, autonomous vehicles. we invest in robotics, primarily industrial robotics, because i think that is where people can see making money or saving money. we are invested in new types of sensors that will ring down the cost of autonomous vehicles and robots, so ai is probably half of our fund, but under a high there are 6-7 errors we invest in. countrieshave seen like tencent continue to rise. where do you see the valuations of chinese companies going? forfu: china's market internet companies is larger than the rest of the world, so current day ration's roughly are one to one, the u.s. slightly higher. 50%ink china should be higher than the u.s. when it is all said and done, so both valuations will grow. i think chinese will grow more in the next five years because leveragi

joining me today on "bloomberg studio 1.0," sinovation ventures ceo kai-fu lee. the u.s. in 1973. you were 12 years old and moved tn

joining me today on "bloomberg studio 1.0," sinovation ventures ceo kai-fu lee.. in 1973.

emily: that was kai-fu lee, ceo of sinovation ventures.he full episode of "bloomberg studio 1.0" tonight. we are livestreaming on twitter. check us out weekdays at 5:00 p.m. in new york, 2:00 p.m. in san francisco. that's all for now. this is bloomberg. ♪ announcer: the following paid presentation is proudly brought to you by samsung, delivering innovation in technology and quality electronics, computers and tablets, and more. samsung. when you walk in the door, does your home feel noticeably different? fresh and clean, like the cleaning service just left? do your senses tell you it is ok to relax because the work is really done? how would you feel to just see the fresh lines from the vacuum? the pet hair, dust bunnies and crumbs have just disappeared. you can have that daily. you should.

emily: that was kai-fu lee, ceo of sinovation ventures.full episode of "burke studio -- "bloomberg studio 1.0" tonight. we are livestreaming on twitter. check us out weekdays at 5:00 p.m. in new york, 2:00 p.m. in san francisco. that's all for now. this is bloomberg. ♪ >> ♪ bloomberg'se from asian headquarters. ime yvonne man. republicans finally passed the tax cuts, the most extensive rewrite in three decades. not a single democrat supported the bill. a collectiveed shrug and pulled little change. yields run to a nine-month high. . >> i'm betty liu. it is just past 6:00 p.m. on wednesday. putting financial risks, poverty and pollution at the top of the list in 2018.