it's not different for tech companies. there's no silicon valley exceptionalism policy that applies. the supreme court has said exactly that. in a case against the united united states was asking for help from new york telephone, now verizon, saying we would like you to assist us in carrying out an intercept of communications data online, and was in the company that is now verizon said, "no, we don't feel like it. why don't you do it?" you can run a line to the wiretap. and the government said, "you are in a unique position to assist us in a way that will not be obvious to the criminal, and therefore you have an obligation , to provide that assistance." the supreme court said it was right. there's no special exception for phone companies or tech companies. you need to provide that because it's a part of your obligation as a citizen. i guess i shouldn't sit down without mentioning the elephant in the room, which of course is apple against the fbi. i want to make clear that while i'm pretty skeptical about apple's arguments

not tech companies, not the government, not anyone. recent outcome of the wannacry ran some -- ransomeware. securing theser types of secrets to the extent it is to exist is no longer present today. the closer you look at the issue of the feasibility of creating a backdoor, the more impractical such a solution becomes. just think about this. what phones would it apply to? what it apply to older phones, would they be grandfathered in? what about phones built overseas? when a german traveler comes to the u.s. and their phone is not compliant, will they have to surrender the phone at the border custome? if so, that is a massive inconvenience. if not, that is a huge loophole. who should be able to recover data? if the answer is tech company should be able to recover data, they won't be just pressured by the government to make data available, but by every government around the world no matter how does what it. -- the spot kick. -- despotic. to me, the issue is not about protecting us from the government. we have the rule of law, the fourth a

not tech companies, not the government, not anyone. recent outcome of the wannacry ran some -- ransomeware. securing theser types of secrets to the extent it is to exist is no longer present today. the closer you look at the issue of the feasibility of creating a backdoor, the more impractical such a solution becomes. just think about this. what phones would it apply to? what it apply to older phones, would they be grandfathered in? what about phones built overseas? when a german traveler comes to the u.s. and their phone is not compliant, will they have to surrender the phone at the border custome? if so, that is a massive inconvenience. if not, that is a huge loophole. who should be able to recover data? if the answer is tech company should be able to recover data, they won't be just pressured by the government to make data available, but by every government around the world no matter how does what it. -- the spot kick. -- despotic. to me, the issue is not about protecting us from the government. we have the rule of law, the fourth a

in tech and to start tech jobs. >> are you seeing more and more women who are going into this industry from other industries, who don't have those typical backgrounds? >> certainly among entrepreneurs. i think that is -- and there's a lot of ropes for that but definitely when you talk about consumer facing tech, you're seeing women that are not necessarily technical, who are starting these company, and one reason for that -- susan line, the founder of bbg ven tiers, built by girls venture, an aol venture she talks less about the fact that when the app store came online x and when you had this opportunity for people to be able you use open source tools to build an mvb, most viable product to build a prototype of their idea south having to raise millions of dollar's or be affiliate with a university, suddenly that opened the gates to anybody who had an idea. didn't take millions of dollars to build the first version of something to test on the market. build it for a couple thousand dollars. so once the costs started coming down and democratized the ability for anybody to be able to get i

don't miss my look at tech sectors top ten. and i'm going to go off the charts to find out if oil will continue low and i just got off vacation. don't i look well rested what do you think? the wife likes it. no matter where i was, everyone was concerned with just one stock. i'll tell you what it was and why you should own it. so i suggest you stick with cramer >> don't miss a second of "mad money. follow @jimcramer or tweet at #madtweets or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. the future isn't silver suits anit's right now.s, think about i

caroline: let's go to vc tech.ay how driverless cars is the hottest investment in the last four months, is ai a good investment? >> i think it has been a good area, but we have seen a lot of startups in that space. on the smart speaker side we have not really seen anyone. very few startups. we have not really seen anything going after that. i'm a skeptic on the home smart speaker area, where we have not seen an ecosystem growing up after them. even as a user or the potential investor in them, what is the retention? what is the engagement with those? i have had one for six months. it is catching dust. francine: -- caroline: mine is a timer generally. >> exactly. i think the voice interface is a little simplistic. what can it actually do? that is the reason why they have been adding a screen now. if you have a screen and the speaker, it is just an ipad to does not move. i don't really understand it. i believe voice is a complement to other things as an interface, but the simple voice interface device in the home -- i

for me, tech is where i live so i think it's particularly important in tech.s so incredibly strong through the first six months of the year and at the same time, i think this is really a market wide issue. >> yeah, you know, it's interesting, roger tech at least the big stocks like f.a.n.g. are going down similar to the way they went up which is all as a group and seemingly not because of individual headlines this seems like a flow story where money is moving to and from >> i think that's true and to be clear, i think that we're in an environment where traders dominate and, you know, that means there's no way to tell where the top is and from where i sit, you know, the news flow could have scared the bejesus out of the market any time over the last three -- well, let's say over the last five months. and the market's been remarkably resilient. the quality of the scary news coming out just getting more intense all the time the market may decide i don't want any more of this for a while. the report you just had about restricting laptops on transatlantic flights,

what sector will the tech giant disrupt next?s is bloomberg. ♪ caroline: whether you are looking to buy the next tesla or a less tech savvy vehicle, it is a debt laden business owning a car. 107 million americans carry auto loan debt. one car sharing platform is creating its own osborne earl ecosystem. car owners are not only renting out their vehicles to help finance their rights but incentivizing some owners to invest in more car, and higher quality. >> i love porsche. i have five. caroline: this man owns 11 vehicles from porsche is to jaguars and alfa romeo's. he uses this car sharing app, the airbnb for cars. >> i started in 2013 with the honda accord. i purchased that car specifically to rent out to test out car sharing models. it was really successful. do it.ed, why not so i've been adding cars to my fleet ever since. caroline: according to two row, , if they have three cars, the owner can make $3000 or month. the vehicles do not have to be high and sports cars. >> the demand went off the charts. caroline: this woman joined

so i do believe you buy tech now. as the underperformer to the financials because netflix reported up 10%. >> it's a tough trade. what steve is talking about year-on-year basis it's up we have a lot of the tech stocks that make a disproportionate -- most indices are up so much. facebook making so highs google is up 25% they are really accounting for a large part of the performance in the major u.s. indices we look at the bank stocks i think you don't buy them here because they underperform since the market actually topped out or since these indices topped out or sectors topped out. carter talks about it all the time, underperformance in 2017 of the bank stocks is glaring. a lot of people buy them and they are cheap yet no reason to go in and buy them at this point it's hard to decipher these quarters and say you have to buy them >> well i disagree to me i look at what happened to technology today it seems ridiculous that netflix puts up 5.2 million subscribers and facebook and amazon and google trade really well that

it happens on a tech showed sometimes.w she has been getting some great sound from key topics. a big key topic has been the , has of cybersecurity major hacking attacks continue to happen around the world, not to mention the investigation of russian meddling in the u.s. election continuing to dominate headlines. earlier, emily chang spoke with someone with expert knowledge of the suspect, retired former director general of the nsa, keith alexander. we talked about the boldness of russia hackers in the u.s. election. >> it points out not just that it's we didn't but they were not prepared to defend. if you left a bag of money on a park bench, then you're surprised somebody stole it, you would say, secure your money. i think that gets us to secure your network. we should not be public with this. we have to make changes in cybersecurity. it's important to point out it can't he done by industry itself. it has to be industry government ownership -- partnership. actually, it think this is an area the trump administration has tak

, frankly, the diversity gap in tech.book is broken out into seven chapters, and we kind of survey the landscape. we profile activists, entrepreneurs, we profile investors. we profile women and companies that are trying to reinvent the culture of work. we take you to college campuses, and then we take you inside classrooms and also inside the world of the toy industry that's also trying to solve in this problem. so we really try to, again, for a very mainstream audience that may not maybe -- maybe they love tech and -- and their iphone, but they don't necessarily understand the challenges that women and people from diverse backgrounds have faced. we try to explain that for them and, hopefully, get them interested. in being part of this digital revolution. >> so i'd like to a take a few minutes and just talk a little bit about confidence and read a little bit from the book from our confidence chapter. one of the things holding women back in the tech sector and in many industries for that matter is fear of failure. now, has

findings was a major difference in the perception of the problems tech and women in tech. women, 66% believe there is still a problem. 38% of men do. are we living in two different realities? applaud your efforts and those of jessica and rachel from the "new york times," katie bennett from the "new york times," the women who are to the and speaking issues. we are living in two different worlds and the voices that matter are the women who feel affected. so i think it is high time that we take a broader view of what's executives company like me and others have a real responsibility to make sure that the kindtting in place of policies to not only provide a diverse and inclusive orkforce, but also to provide for a comforting and belonging workforce once people get there. emily: now, we had a very one ted discussion and at point, a gentleman in the audience stood up, longtime tech said at the beginning that he knew it was going to be a controversial point. he suggested that perhaps women to support each other more. open table stood up and she was very emotional response.his to

we're live in aspen at the tech conference.nd google rebrand its digital eyewear with a new focus. we get an upgrade to the google glass and how the corporate version resonates with users. first to our lead, it is a hit and a miss for ibm. while earnings per share are dropping after-hours after the tech giant came out with revenues that fell short. sales in the technology services as key newlatforms areas have declined. the 21st consecutive quarter that sales declined year-over-year. joining us from new york is our bloomberg intelligence reporter. function.ng at the em this is painful when you are digging into revenue. because you are seeing year upon year of negative revenue. -5% in the second quarter. we can't see growth all the way out until 2018. this is difficult for virginia rometty. reporter: it is definitely a sore point for investors. the companies have been transforming businesses to rely more on emerging technologies whether it is cloud, ai, , analytics, security. those products usually do well for ibm. but it is leg

caroline: let's go to vc tech.u see this rushed for ai, you say how driverless cars is the hottest investment in the last four months, is ai a good investment? >> i think it has been a good area, but we have seen a lot of startups in that space. on the smart speaker side we have not really seen anyone. very few startups. uilding on top of the alexa. we see apps on the smart phone. we have not really seen anything going after that. i'm a skeptic on the home smart speaker area we do not have an ecosystem going after them. the potential investor in them, what is the retention? what is the engagement with those? i have had one for six months. it is collecting dust. caroline: mine is on a timer. >>i'm a little bit of a skeptic because of that. i think the voice interface is a little simplistic. we don't have feedback. i think why they're adding the screen now. what can it actually do? if you have a screen and the speaker, it is just an ipad to does not move. i believe in voice as an interface. but i'm a bit skeptical. c

emily: tech leaders came out vocally against trump.e have not seen the results of the policies he has promised. we do know it appears he plans to block the so-called startup visas given to entrepreneurs who come from foreign countries. how big of a deal is this? dick: i think that's really unfortunate. i think to be just blunt about it, it's a sign he is not paying much if any attention to what tech leaders are talking to him about. i can assure you they would be promoting that idea. it promotes job creation in the u.s. you want the best entrepreneurs in the world starting their companies and building these future big businesses here, and hiring people here and not doing it elsewhere. to the extent you can attract them here and enable them to build those companies here and thrive here with a great asset to capital and nourishing of entrepreneurship we have. the more of that, the better. i think it's unfortunate and that not having , been in any of those discussions, that it is a little bit paying lip service to listing to tech leaders

tech companies as the eu continues to put on the pressure?loomberg technology is live streaming on twitter. check us out weekdays at 5:00 p.m. in new york. this is bloomberg. ♪ caroline: the parent of google says a european commission antitrust fine will cut second-quarter profit by 2.7 billion dollars. alphabet cannot the top the fine from its taxes, so it will charge off the full net income. they were fined last week for using their market dominance and shopping results. facebook could be the next target for european antitrust watchdogs. germany is examining whether facebook takes advantage of its popularity by pushing users into agreeing to terms and conditions that they might not quite understand. joining us for you new york, james, who covers facebook. eileen from passion capital london. alastair, let's pick up things with you. facebook, germany looking into them saying they are more bullying when it comes to certain things. alastair: this takes the google charge from last week to a whole new territory in europe. privacy is a lot more im

but it does raise the topic of valuation as we had this nice run in tech going into a big week of technings. so give us a sense of where your head is right now on price and how the fundamentals are coming in >> well, i'll tell you, i think in the valley right now there's a sense of both big accomplishment aren't companies getting out in the public markets and also a sense of trepidation. and the main reason why is that while the companies are growing at just lightning pace, they're also going up against some of the strongest companies tech incumbents that really ever been born if you think about what is going on with amazon and even just some of the sort of the prototypes they were running in seattle around the meal kit business f you're blue apron, you think amazon is the white walker and winter is coming. this is rattling around the halls of snap. every time they launch a new feature and they're so creative. every time they launch a new feature, it basically gets inked by facebook and facebook's got so much more scale i think really it's a question of can these companies compete with

they are very representative of the new tech. i think it carries the day in general tech. more important to me this week will be fang and consumer because we do get starbucks, mgm, some of the home builders. consumer is 75% of the economy and that has to continue to hum along. if you notice today what sector is really in the red it is consumer. >> jim's point is not so much based on fundamentals. it's a sentiment story. you get one of these stocks that disappoints and then you have investors questioning. >> i'm saying that has not happened. >> i feel like i'm talking to myself because i usually sit over there. >> i think what happened last time around that friday where nvidia and everybody got excited saying growth is over. you were able to rotate into financials. i'm not sure if you are able to do that. >> i love to hear what you have to say. let's say google -- i hope this isn't the case. let's say they come out tonight and they are too conservative with guidance and spook the street and google loses 85 points like immediately, does that money go into treasury bonds or o

georgia tech said we do mind. we are not sure we're going to give you permission. >> but they decided to make it a bigger deal than we expected and right now we have two days left before the contracted painters break down the equipment and after that the next schedule of the painting of the tower is another 20, 25 years, so if it doesn't happen now, it is not going to happen. >> lawyers and representatives have been in contact with georgia tech trying to get permission before that wednesday deadline. >>> so georgia tech sent us a statement this afternoon. it says georgia tech has a royalty free licensing agreement with damascus high school for a limited use of our trademark buzz logo. we received a request to use it in a way that is outside of that agreement. we're considering the request but a decision won't come until next month which as you heard will be far too late. >>> a chinese exchange student is know where to be found. a man is being held without bond until his trial. the suspect is brent christian son. h

we also have this mysterious tech bailout.hile the nasdaq is up nearly 4% on the quarter giving some of those gains back and partially, or mainly this has to do with the weakness we have seen in june. june being the first down month for the nasdaq in 8 -- we have a great chart that exemplifies -- it is g #btv 490. it shows the last time we had a monthly decline for the nasdaq was in october. if you recall, that reflected the election, a lot of tech stocks selling off a little bit. we have seen some uncertainty in june. while streeters are not sure what is behind it. some of it could be the end of the quarter. , taking profits and trying to really take advantage of the fact that tech has been hot. it is still the top sector. i think you nailed it, emily, with the volatility word. very volatile quarter. emily: caroline, how have a job and europe compared -- asia and europe compared? caroline: asia managed to post 14% of gains in the quarter. we have g #btv if you want to get in, type in his magic letters and a number 669. in the

and other tech stocks.ng us to talk about is daniel. >> good to see you. >> what are your expectations for apple? feels like the stock is up and there's a holding pattern waiting for the next phone what are you looking for next week >> a couple of things we're looking for. clearly we want to see that the results on the iphone are in line but recall this is a season nall seasonally weaker time of year the big question is can apple execute on its big iphone 8 cycle, and secondly when you think of what the power of the company is, it's about their ecosystem and whether they are able to downto attract developers to the platform who can then build on what apple does. >> that said, apple is not really a f.a.n.g. name, right? it's had a great year, but we have facebook, amazon, you know, sometimes people will throw apple in there, but it's more netflix and google and microsoft. why isn't apple one of those names? >> well, i think's a couple of reasons for it apple is very much a product company, so when you think

georgia tech said water tower was not included on this rather long list. damascus appealed, georgia tech said it would hear the appeal in august. weeks after those wsse painters had wrapped up their work. >> after that, wsse's next scheduled painting of the tower is not for another 20 to 25 years. so if it doesn't happen now, it's not going to happen. >> reporter: that hasn't seemed to phase georgia tech. in this letter obtained by wusa9, the university responded to the community's pleas for an wednesday's painting deadline. the legal issues surrounding this request cannot be satisfily disposed of in the limited timeframe of the current repainting, wrote georgia tech vice president patrick mckenna. we hope that expression of school and community pride can be demonstrated at this time in other ways that do not include the use of the licensed trademark. >> there's an agreement. there's common sense. let us put it up there. >> reporter: so could wsse ever get the painters back up there if georgia tech changes its mind down the road? they say never say never,

this is in both tech and health care.k it's because we pick a franchise approach toward and so we go-- investing, deep and mine them in terms of networking and so on, and that is the secret sauce to canaan. emily do you get the sense a : company would take 10 years to go public or exit, would you stay away from that? maha: no. we absolutely believe we are building companies for the long-term. but because we are taking a more thesis driven approach to investing we are on the pulse of , what they want and are thinking about. that just inevitably causes companies to exit faster than they otherwise would. and some take 15 years and , that's fine too. emily: so what areas are hot where there are big opportunities? maha: syntax is still very hot for us. technology investment. we spent a lot of money in real estate and insurance. we spend a lot of time in cloud. we have a few gaming deals. but we are very disciplined in our approach, as opposed to taking index funds for renter. -- venture. you have three female general -- emily:

we're bringing all the top interviews from the week in tech. pick costello joins us for a wide ranging conversation. an army of tens of thousands of have a takees, we on the fight for net trolley. competitive video gamers get there league. the first seven franchises and robert kraft is all in. we will bring you that conversation. a new hire at twitter. nancy go will become the chief financial officer in august. he will report to jack dorsey. he will assume the rule -- role. he will continue to serve as the coo. for more reaction on the shakeup, we spoke to dick costolo who returned to the cofounder of as first -- personal fitness platform. deck: i have a lot of confidence in the team over there. i am sure he is a great addition to the team. emily: they reported their first quarterly loss during the we've seen a new strategy unfolding. do you expect any change in strategy with a new cfo? those guys are pretty focused and have unclear on what they are working on. that to continue if they are promoting the way they are. emily: what do you think of

the tech giant confirmed it is cutting thousands of jobs.he number of jobs to be cut range anywhere from 3000-5000, and most of those jobs in sales and outside the u.s. that is out of the company's over 121,000 person workforce. the move is part of the company's reorganization to better focus on selling cloud software. a spokesperson told us "like all companies, we evaluate our business on a regular basis. this can result in increased investment in some places and from time to time redeployment in others." joining us now to discuss is cory johnson in san francisco. in london, frederick who i'm pleased to say is staying with me the entire hour. cory, bring us up to speed. there is a focus going on in terms of the cloud and a.i., and the memo that bloomberg saw on monday seems to say that this is because of a huge $4.5 trillion market opportunity. cory: it is about a big shift at microsoft. we have had the world go from a client server network to things happening on the cloud to a different way to sell software. pc's are not the center of the

how london plans to defend his title as the tech hub. we are live streaming on twitter check us out. 5 p.m. new york, 2:00 p.m. san francisco, 10:00 p.m. right here in london. this is bloomberg. ♪ caroline: now a story we are watching. uber is officially rolling out p- an in app pick u option. customers will be asked of they would like to leave a tip. it is a major reversal for the embattled company. lyft has always allowed gratuities. meanwhile, london appears to be defending his title as europe's tech capital according to london partners, an agency for the city. venture capital firms drove more than $2.3 billion into the city's technology center since last year's brexit vote. continuing to outpace other european cities, including dublin, berlin and amsterdam. one firm is felix capital was just announce it is raising $150 million in its second funding round. the firm backed some of the city's biggest successes. still with us is the founder and managing partner frederic. congratulations. it is your second fun. only two years ago you rais

in the tech sector. those founders, they say that they are worried about getting talent. how can i persuade a developer in portugal or spain to come over to the u.k. when i don't have any certainty of what they will be offered in terms of the exit from the e.u.? i don't know any certainty of how they can be employed here. it is hitting smaller companies, if not the big tech giants. emily: also, there's cash going in opposite direction across the pond from the u.k. to the u.s., right? caroline: this is an interesting deal. this is one of the biggest tech companies listed in the u.k. sage is splashing the cash. they are spending $850 million on a u.s.-based company, very near you on the west coast of the u.s. they are buying a company called intacct corporation. this is about expanding their presence in cloud. this is an enterprise software company, competing with salesforce or oracle. they are buying because they want to keep beefing up cloud offerings. $850 million is a lot of money, particularly when th

check us out at bloomberg tech tv.rg. ♪ carol: welcome to "best of bloomberg technolog "bloomberg " 'samsungs's of successes for the arts. oliver: a mysterious hijacking of a $100 million tanker. all that had right here on "bloomberg businessweek." ♪ carol: clear with the editor in chief. in the business

betty: tech giants take a stand in the fight for net neutrality. we talked to the head of go daddy for his tech, -- take on the high-stakes battle. this is bloomberg. ♪ yvonne: this is daybreak asia. betty: and i'm betty liu in new york. google, amazon, thousands of other websites joining an unprecedented protest on that neutrality. equal access to the internet could be at stake. isn't the last stand for net neutrality, is probably one of the biggest battles before this is finally decided here. is a lot ofexpect messages coming out from 70,000 websites and organizations saying, listen, you guys have to ante up until the fcc you want net neutrality to a. google, facebook. some of the arguments painted dire picture. slower website access in terms of longer wait times to load. censored and blocked content mighte some isps theoretically favor their own content over the content of other providers and there could be higher consumer bills. the money could be used to pay for infrastructure to pad out some better or faster technology to get infrastructure o

>> it is fairly quiet when it comes to the tech pipeline.w a lot of that get cleared after a slow year last year. we saw some smaller enterprise companies come out the door. i'm hearing from sources it is a lot of small enterprise companies. that is what we will be keeping an eye on for the rest of 2017. emily: alex barinka, thanks so much. coming up, it is prime time. amazon's cargo planes are it.ing ready to support we will bring you to the company's home of seattle next. this is bloomberg. ♪ alisa: i am alisa parenti and you are watching "bloomberg technology." andtback for theresa may britain's conservative party. to prime minister was forced suspend one of her own lawmakers after she used offensive and racist language to describe the possibility of a no-go brexit. she says her comments were unintentional and has apologized. residents of mosul are taking to the streets after iraqi forces declared victory over islamic state. a few hundred militants remain in a small part of the city. 900,000 people were displaced from their homes during t

you made a big deal of the fact the s&p 500 vix dropped below the tech vix -- or the tech vix droppedhe s&p 500 vix. it has given back some of the gains. he thinks this vxn near 17 could be a tell on overall volatility for the markets, perhaps led by earnings season. something to keep an eye on. caroline: talking of volatility, when only needs to see the $8 billion wiped off the market cap of tesla this week. good job as always, abigail. david kirkpatrick with techonomy, his favorite word, sticking with us. we look at samsung's historic earnings report. how the company continues to thrive despite crises knocking at its door. you can listen on the bloomberg radio app and in the u.s. on sirius xm. this is bloomberg. ♪ alisa: i am alisa parenti in washington and you are watching "bloomberg technology." let's start with a check of your first word news. we want to begin by taking a live back to hamburg where police have resorted to water cannons in an effort to contain protesters at the g-20 summit. nearly 200 police officers have been injured in clashes with thousands of protesters. world

speaking of tech, we spoke with louise on bloomberg surveillance saying tech has been underperformingithin the relative strength index so perhaps more than a speed bump in the road. some of the individual winners and they are focused on microsoft up by the most points and not percent, so to speak. microsoft say it may announce layoffs as its weeks to put more into the cloud. bloomberg intelligence analysts saying the hybrid cloud is emerging as a bit opportunity is likely to be the major sales driver and that is pushing the stock higher. where there are winners, there has to be losers. auto support supplier, o'reilly automotive is one company we are looking at. they said they are facing a more challenging cells environment than they expected tracking down some of their peers. jpmorgan said autozone and advance auto parts are a buy and the selloff of over riley is oversold -- o'reilly is oversold. on a similar theme, a look at tesla, that stock is down. they have slowing second-quarter sales compared to the first quarter and those were some the higher priced cars. we know they're expec

it doesn't go anywhere until it suddenly disappears in 2007 and 2000 but tech interestingly, the techge, the stocks are expensive. facebook sitting here at 40 times earnings it will trade at 20. we know that we get gradual compression over time but what is happening in tech is easier to understand you look at these companies. they're so much more scaleable globally than anybody thought. and so much more scaleable gloeg global globally than the an logs like a retailer or other company or what have you. there is no reason that stops. people keep saying it's got to be done now. there is so much growth and -- >> it sounds like you're covering a philosophical short here. >> this is of tech i've always been supportive of tech. >> so the bearishness is pliz for to the broader market. >> it's not a timing call. i have no idea but if we're sitting here in five years and the markets double from here and it's never wavered, i'll feel like even more of a moron. put it that way. >> meanwhile, shares of sears surging this morning the company lands a deal to sell the kenmore appliances on am zot.com

as i doubt many of you can name a single tech product or startup that hails from this country.hat you will see next then may come as a real shock. ♪ ashlee: because in its very subdued, self-effacing way, england has in fact given rise to a handful of tech companies that have impacted the world on an immense scale. i am heading from london to cambridge and into the english countryside to find the best technology that england has to offer. along the way, there will be fancy hairdryers and ai-infused software. along the way, there will be fancy hairdryers and ai-infused >> hello. my name is -- what is your name? ashlee: and of course there will be a spot of tea, all on this episode of "hello world." >> [dial-up modem sounds] ashlee: silicon valley may be home to some of the biggest tech giants in the world, but it is being challenged like never before. crazy tech geniuses have popped up all over the planet, making things that will blow your mind. my name is ashlee vance. i am an author, a journalist, and i am on a quest to find the most innovative tech creations and meet the beau

>>> good morning the teflon tech rally. the nasdaq has just did something that it hasn't done in more than two years. >>> microsoft shares surging to an all-time high after reporting blowout results. instant analysis straight ahead. >>> and why the internet is buzzing over jeff bezos' first instagram post it's friday, july 21, 2017, "worldwide exchange" begins now. ♪ good morning a very warm welcome to "worldwide exchange. i'm wilfred frost. >> i'm seema mody in for sara eisen. happy friday >> thank you same to you. same to all of our viewers straight to the global market picture. the nasdaq managed to eke out a tenth straight gain yesterday. indeed hit another record close, albeit a fractional gain we saw a fractional loss from the s&p, around a tenth of a percent of a loss for the dow. a flat session all in all yesterday. 7 out of 11 sectors were negative this morning we are called higher by about 25 points for the dow. so again, just a small set of movement in the premarket. ten-year treasury note continued to slip over

as i doubt many of you can name a single tech product or startup that hails from this country.t you will see next then may come as a real shock. ♪ ashlee: because in its very subdued, self-effacing way, england has in fact given rise to a handful of tech companies that have impacted the world on an immense scale. i am heading from london to cambridge and into the english countryside to find the best technology that england has to offer. along the way, there will be fancy hairdryers and ai-infused software. >> hello. my name is -- what is your name? ashlee: and of course there will be a spot of tea, all on this episode of "hello world." >> [dial-up modem sounds] ashlee: silicon valley may be home to some of the biggest tech giants in the world, but it is being challenged like never before. crazy tech geniuses have popped up all over the planet, making things that will blow your mind. my name is ashlee vance. i am an author, a journalist, and i am on a quest to find the most innovative tech creations and meet the beautiful freaks behind them. >> hello world. ashlee: if you tried

at the fortune brainstorm tech conference.irst, to our lead. netflix's second 40 -- second-quarter earnings results exceeded expectations. there is little room for error. shares climbed 30% this year. they delivered on a key step, adding subscribers. with the big portion of that coming from outside the united states. caroline hyde sat down with cory johnson. cory johnson: they don't see the financial results. what they see is a business that might someday generate the results. how do you have the cash loan to pay for all that content? by having subscribers that pay every month. what they see from these numbers is an accumulation of numbers -- and subscribers who are sending credit card numbers in and the payments keep flowing through. the hope is there will be a geography like the united states and canada that are profitable , and that the be the future of the rest of the world for netflix. caroline: amazing. 104 million users now. for the first time international users will bring them some sort of profit. we are looking at th

it is not just a high-tech story.he june nonfarm payrolls data, michael mckee joins us from cambridge, massachusetts with more on this so-called skills gap. the forecast is the government will report tomorrow a net 177,000 people got new jobs in june. but that number could be a lot higher. take a look at this chart. hiring in the united states is lagging, but job openings are at record levels. why is that? there's a big debate. employers in many places argue there is a skills gap, workers who lose their jobs in, say, factories don't have the qualifications to move directly into the tech industry. there is a skills gap and a supply and demand component as well. i.t., a lot of the biosciences, high demand, and it's a combination of not enough supply. in some courses, not enough capacity in the domestic skill set. so we go into the whole talent access question, which is a talent pipeline. our u.s. stem education still needs to catch up to where our peers around the globe are. that contributes to the skills gap. mike: oth

solid 92 >> once again, it's tech with the big swings. gettingy, tech hammered.ch leading the day. report. decent jobs increase more than expected. june.0 for the month of unemployment rate did creep higher. not asins, however, robust as some had anticipated. let's take a look at the sector breakdown for the s&p 500. joe, you mentioned technology leading the way. that's certainly what we see here with the information index up by a quarter, one and a quarter percent, i should say. discretionary stocks, the auto makers, retailers, home builders, up. downside, telecom and energy. names illy the tech want to focus on here. apple, for instance, according analyst, had steady iphone sales in the third with sales stable to improving. 1% gain inod for a the stock. tesla rebounding just a bit by still down 13% on the week. two weeks ago, it is trading at 383 a share. now it's 313. it's been a rough couple of weeks there. and the chip device company is said to be considering a sale, it has expanded its business. this is according to people familiar with the matter. say that

is it too fast is it what's disrupting the tech rally?.3 2.35 is what we're looking at here >> weather wa >> we're waiting to see whether we can break that down trend >> look at the tick up recently. >> correct that's in the last five, six days whether or not you can get high enough to break that down trend, medium term will be key. a lot of folks watching. >> has all sorts of effects for stocks helpful for the banks which have been praying for the yields. hurtful for utilities and telecom. so far it looks like it's hurtful for big cap tech stocks. at least a chance to cash in profits. they're still the biggest winners of the year. >> tokes are talking about that mini rotation going on >> so, a lot of news coming outokumpu oout from asia overnightovernight policymakers will meet next week the central bank could be retreating from kuroda's pledge to do whatever is necessary to achieve his inflation targets. those key words did have effect back in the day. the whatever it take sides s si things kind of like mario draghi. >> china's central

more on the backlash against sexual harassment in tech, next.s is bloomberg. ♪ emily: now to the latest in a series of scandals alleging sexual harassment and other offenses that have rocked the venture capital industry in the last few week. seattle-based ignition partners has announced its managing partner has resigned after receiving two claims of misconduct. in a statement, ignition said it received an anonymous allegation last week, which followed another accusation of inappropriate conduct last year. joining us now, our bloomberg tech reporter lizette chapman, who covers venture capital. yet another case, yet another venture capitalist. what happens this time? lizette: some of the details are still coming out. we know is exactly -- what we know is what you said in the intro. there was a claim made against him a year ago. i understand the firm did investigate at that time. that is what we are being told. and that nothing happened at that time but then last week another allegation was made. as of last night, he had resigned. emily: it's worth