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tv   Best of Bloomberg Technology  Bloomberg  March 3, 2019 6:00am-7:00am EST

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♪ emily: i'm emily chang. this is the "best of bloomberg technology." we bring you all our top interviews from this week in tech. coming up in the next hour, the other tweet heard around the world, why elon musk is in hot water once again with the sec. plus, 5g was a hot topic, but the uncertain future of huawei continues to overshadow the industry. we bring you the latest out of barcelona. and privacy practice, california is not waiting on the federal government to regulate big tech.
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why its proposal has companies like facebook fighting back. tesla mystery solved, elon musk is launching a new model three at a lower base price of $35,000. the news first broke after tesla ceo elon musk teased some mysterious tesla news earlier this week, tweeting thursday 2 p.m. california, some tesla news. to discuss, we have got venture partners in minneapolis and keith in detroit. what do we know so far? keith going with a lower-priced : model three with a shorter range gives elon the opportunity to meet the very ambitious volume targets. they are planning to produce 400,000 model threes, that is a lot. and you can't sell them all at over $50,000. having a lower price should bring in new customers, bring in value customers.
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the average price of a car in the united states is $37,000. this makes it a joe average kind of tesla for the first time. emily: hasn't tesla promised the price would eventually come down to $35,000? it just took some time to get there? gene: yeah, this is the original promise back from two years ago. in some sense, this is not news, but in other respects, it is the biggest news since the model three itself was announced. the simple math was that many people felt that for this car to be produced profitably at $35,000 was impossible. that is what is so important. $35,000 does not sound that significant, but compare that to the rest of the car industry. the few that do have ev's are typically at $70,000 plus.
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you can start to quickly see why tesla's 80% market share they had in the u.s. on electric vehicles can maintain that kind of share, at least in the near term. emily: rights, tesla as you mentioned, already way ahead in the electric car market. tesla shares fall as we wait for them to announce will initially be a lower cost $35,000 base price for the model three. keith, why did it take these two years to get here? keith it is typical of : automakers. i know tesla is not a typical automaker, but usually you start modelse higher-priced because that gives you the , biggest profit, the payback. then you move down the price ladder and start putting out lower-priced models and go for the volume. you need to get a critical mass going with the high-priced ones. he has achieved that, and now
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has ambitious production targets. in order to sell those cars he plans to produce, he needs to really have a lower-priced model. emily: how many more cars do you think tesla will be able to sell at this price? how does this change your model? gene: right now, we are conservative relative to their 400,000 expectations. we probably need to rethink what our estimate will be. this --le takeaway is if you look at the broader market, there are 80 million vehicles sold, last year, 1% were electric. in the future, there is no question that 100% of vehicles, that might be 10 years or 30 years from now, but that is ultimately where we are going. i think how many can they sell, what it means for the models is that this could be a significantly bigger company because of the $35,000 price. emily: meantime, earlier we covered the news that the sec
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has asked a judge to hold musk in contempt for his tweet surround production numbers. is a 500,000 or 400,000, and did he tweet too soon? could these legal issues impede tesla's progress? keith they could impede elon's : progress, that's for sure. he put out a tweet saying they were at a 500,000 rate, where it was actually 400,000. he had toes ttweet unfettered and that is the issue the sec has. emily: gene, you have choice tweet.bout musk's latest he said he is reckless. how concerned are you that these issues will continue to affect his leadership and possibly the company? gene: concerned. and i want to make it clear that i am a believer in the tesla and a believer in elon musk. nonetheless, i was at one point
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ago hopeful he , could change. unfortunately, he is not going to change and will continue to do reckless things on the edges. i just hope that this recklessness does not impact the business, because the company has a wonderful mission and they are in a great place to change the world. emily: the former ceo of pepsi is now the newest member of amazon's board. nooyi will also serve on the board's audit committee according to a regulatory filing. she becomes the fifth woman on the e-commerce giants 11 person board. -- giant's 11 person board. faster, they promised to increase the diversity on their board. she served as the ceo of pepsi from 2006 until 2018. still ahead, michael cohen accuses trump of criminal conduct in office in a hotly contested house hearing. what we learned about the 2016 hacked democratic emails.
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huawei pokes fun at u.s. intelligence. we discuss,. this is bloomberg. ♪
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emily: at&t has beat back the trump administration's attempts to undo their billion dollars purchase of time warner. they showed the lower court made a mistake when they rejected the government's antitrust argument. the next merger decision is the t-mobile-sprint deal. staying in washington, all eyes were on president trump's longtime former personal attorney and fixer michael cohen, testifying before congress. the six hour affair had plenty of heated exchanges as he laid out a list of damming allegations against the president, including a bombshell about the 2016 hacked democratic national committee emails. michael: a lot of people have asked me about whether mr. trump knew about the release of the
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hacked documents, national committee emails ahead of time, and the answer is yes. emily: our executive editor who covers financial investigations, we spoke with her on wednesday. >> according to him, roger stone called the office and trump's assistant put them on speakerphone. roger stone then said he had talked to julian assange of wikileaks and this dump is coming. i note here the julian assange has said he never talked to roger stone. once again, we are caught up in a what could be the truth here? i will point out it is often the truth there is a go-between. whether someone else who represents assange may have spoken to stone remains a question and if somebody is even telling the truth, if indeed that is what he said. roger stone himself is operating under a gag order by a judge to we are not hearing from him.
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but it is one of several tantalizing things coming out of this testimony. emily: let's talk about the other tantalizing things. much of it reiterated his opening testimony, but what are the new and most significant revelations otherwise? winnie: i have to be honest, for prosecutors, there is nothing revelatory here. but for the rest of the public, it is astounding to see a sitting president attacked and treated like this in congress, quite unusual. not since bill clinton's impeachment hearings have we seen anything quite like this. the attacks on his personality and character are stunning. in terms of the legal issues, obviously, michael cohen cannot speak for prosecutors but can give us a glimpse of the threads of some open inquiries so we can see potential, and that is all it is at the moment, but quite interesting. there are several, one involving the trump organization itself. cohen, y silberg
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lberg and others there were involved in several questionable activities along with trump. he says that trump was the one who dictated the terms of the payments to stormy daniels and then repaying michael cohen. and then weiselberg took him aside and said we will do this over an amount of time and look like a retainer agreement for legal work. that would be some kind of a books and records issue for this corporation, so that is one thing. separately, cohen talked about how trump may have inflated values for certain purposes of assets and undercounted them for other purposes. -- so did hed that misrepresent the value of assets, for example, when trying to obtain bank loans? those things have been brought forth and give us a tantalizing tidbit of what prosecutors could be looking at. those are a couple examples. emily: the president is busy in hanoi, so it is unclear how much
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testimony he was able to watch. he retweeted an old tweet saying that michael cohen was one of many lawyers. he had other clients too. he was just disbarred for lying and fraud and did bad things unrelated to trump, lying to reduce prison time. he was interrogated over and over pointing out that he did indeed lied to congress, yes he -- yes, he is going to jail for lying to congress. that said, what are the tangible legal issues that might arise out of this testimony, as it pertains to possible collusion and possible obstruction of justice? winnie: on the collusion front, there was not much new. michael cohen was asked point blank about that and said he was not aware of any efforts. he did suggest that he knew about the information coming from wikileaks but did not go to the point of saying he directed
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it or was involved. the other example was the infamous trump tower meeting involving his son and a russian lawyer. in that case, cohen is speaking from what he suspects to be true, but nobody knows. he says that don jr. did nothing without his father's permission and that he certainly would have consulted him on this. he does is far say he recollected a conversation that, but that is not proof. to the core issue about collusion and i don't think we got a lot new, except perhaps more detail and color and a few , more questions about whether someone was involved in communicating with wikileaks. emily: that was a bloomberg's executive editor winnie o'kelly. meantime, one of the side effects of the u.s. attempt to ban huawei's 5g technology is driving interest for the other telecoms.
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that is what we heard in barcelona this week. take a listen. >> we are watching closely and observing. it is for government to decide. we will be there for our customers when they need us. we are getting more interest and there are concerns. there are also some uncertainties and we just watch the situation closely. emily: this, as huawei unveils a new and very expensive phone. we caught up with bloomberg in's mark gurman mark they have two main parts : their phone business, one is that they provide 5g and equipment for infrastructure and carriers around the world, or intend to. the other is that they make these phones. they have introduced this $2600 foldable phone. overall, huawei makes some cool phones. they are well received and their 5g technology is fairly advanced. that gives all the carriers a
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conundrum. what if consumers want to buy huawei phones that government and others are not allowing them to sell? also, 5g. what happens when customers are asking for 5g? the carriers that offer that functionality will have a competitive advantage. it feels like in terms of in theion and technology hardware space, as well as advancement in 5g and carrier networking, huawei has the carriers is not a so great position. emily: all of this negativity around huawei, is that impacting the handset business at all? mark: right now, it does not appear to be. you see verizon, at&t, t-mobile, sprint all discussing their 5g rollout plans some saying they , will be with 5g by the end of 2019. you will see sprint and at&t and
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others show more progress in their 5g networking across 2020 and after. in the u.s., it does not appear that while is having an impact networking, but it is a different story outside of the u.s. wouldemember the days we recoil at the idea of $1000 for a new iphone model. 820 $600 phone from huawei who , will be paying for this? mark what we have seen is that : since apple announced the phone, we have seen prices skyrocket. a couple weeks ago, samsung announced their galaxy fold for about $2000. priced $20 under the $2000 threshold. who is going to buy it? i don't think many people.
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i think that price is very much out of reach, but that is early adopter pricing. this is what it costs to make, this is what they sell it for, this is why it needs to be so expensive, because of its cool functionality. overall, i will think you will find many people paying for it, even a diehard tech fan like me. that is not something i would shell out that kind of money for. >> mark, what did we learn for the new thing for wearables? mark wearable technology has : been slowing. the biggest wearable news we did get was from samsung a week ago alongside the galaxy fold. but we are seeing a lot of the smart watch makers whether that , is fitbit or others reporting an uptick in smart watch, people enjoying smart watches and buying up the smart watches. apple released their latest smart watch in september, apple watch series 4. emily: you have a news story out
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reporting that apple is testing a sleep tracking feature for the apple watch. how will this work? mark: before apple launches a new health or fitness feature on the apple watch, or any other device, they put it through its paces on outside people they bring into these labs they have outside of the cupertino campus. that have multiple fitness labs, one for swimming. they have special chambers that can simulate very hot weather conditions, upwards of 100 degrees, conditions that are very cold, bicycles, and now they are doing the same for sleep tracking. emily: that was bloomberg's mark gurman. staying with 5g, qualcomm out with a new chip. why the company's president says 5g will become critical infrastructure. plus, later this hour, our exclusive conversation without a
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-- with alibaba as executive vice chair and cofounder. why he is optimistic about a trade deal and why investing in professional sports could help ease some of the tension. this is bloomberg. ♪
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emily: qualcomm's new chip will connect to fifth-generation high-speed services that will bring faster downloads and speedy connection. i sat down with the qualcomm president cristiano amon for an exclusive interview about the company's latest moves. take a listen. cristiano: one of the big announcements we made, we are very proud of it, is the qualcomm 5g power save technology. that is a technology that is allowing the first generation 4g phones to allow you to have a better battery life. we had a very mature smartphone base, users will not settle for any less. that is the bar for the new 5g
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flagships and we are happy a announcedoems have what we have. emily: is it really the carriers that decide how and when 5g happens? and are they on board? cristiano: that is a great question. i will do a comparison. sometimes, we forget about 4g. when we were at this time launching 4g technology over a decade ago, we had two operators and four devices. look at where we are now, 20 operators, 30 devices. that is a proxy of how much deployed.will be emily: talk to me about this partnership with samsung that you have engaged in. they have now announced a flip phone. will and you gadget -- will a new gadget like that help accelerate this? cristiano: i feel there is an
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enormous potential for 5g to change the form factor of devices. we are proud of this partnership with samsung and how they have been great partner pioneers. we have also seen a number of different devices announced and we see a potential for form factors to change. the most important thing is that as you change your experience with 5g, you will want a different type of device and screen size and resolution. the apps are going to become way more powerful, which will likely have more powerful hardware, so yes. emily: so it is not be formfactor that accelerates 5g, that changes the formfactor? cristiano: yes. emily: what changes will we see? cristiano: bigger screens are here to stay. you see the opportunity for larger screens of you have flexible oled technology. it will also see specialized devices specialized for capable gaming, because 5g will allow mainstream gaming on 5g devices. also, you will see devices that are going to converge between productivity. over time, we expect to see
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virtual reality or augmented reality devices, as well as a companion to your phone that will be used in 5g technology, and we hope them to look like eyeglasses. emily: other companies coming up with 5g, xiaomi, oneplus. they have got their own 5g plans. how worried are you? cristiano: not worried at all. of one, alleption of them announced they are using qualcomm technology. emily: what about huawei? cristiano: we have always been competing, but there also a customer of qualcomm. when we think about china in general, i like to put it in that context, china's mobile ecosystem sees 5g as an opportunity to expand, not only in china, but globally. we will see xiaomi, oneplus, vivo embracing 5g and even going to arab markets.
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in the case of one plus, going to united states markets. we think the china business will continue to expand and 5g will be a great opportunity. emily: huawei is facing bans on its equipment around the world. how closely are you following? cristiano: it is not really the business we are in. play is smallture cell. we are not directly related, but we are a partner on the infrastructure. it is a sign that, if anything, this discussion is a sign that 5g is way beyond mobile. it will become a critical infrastructure because it will power everything around us. emily: that was my interview with qualcomm president cristiano amon. coming up, california takes the lead when it comes to protecting user data. what the state has planned to let you take on big tech. that is next.
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♪ emily: welcome back to "the best of bloomberg technology." i am emily chang. the tech world is waiting to see what congress will propose when it comes to protecting users data privacy. california is not. the state is looking to strengthen the consumer privacy the measure would allow consumers to sue companies. it could signal an onslaught of class-action lawsuits and one the tech industry opposes.
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>> in 2018, the ccpa passed unanimously. they set aside 2019 for details on how it would be enforced. one of the big proposals we saw this week was the right to private action. it would, if passed, permit consumers in california who feel their data has been distributed without consent or in breach of their user agreements to sue for , monetary damages against companies like facebook and google. there are a number of other proposals like the right for consumers to find out how much their data is worth, and to gain access to that data and know how it is being distributed down the line. there is a lot of proposals up in the air. emily: does common sense support some of these stronger potential additions to the law? >> yes, common sense is supportive of efforts to
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strengthen the california consumer privacy act. we expect also to see actions by industry to weaken it. which we will oppose. emily: what are the tech companies lobbying for? they opposed the law initially they funded the law's , opposition. ultimately, everyone was on board with what was written. what are they lobbying for now? >> in a committee hearing last week, a lobbyist for the industry said it would be a bonanza against the industry and there would be so much litigation it would be tough to come out from underneath. that is a big no-no for the industry. there are some details like the right to have loyalty programs with consumers, they want to ensure to protect but there are some concerns they would end up being discriminatory, and some
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who was being covered, which businesses of what size. emily: if the law passes as written, what would change for me as a user? >> the california consumer privacy act? the private right of action? emily: right. >> senate bill 561, you as a california resident would be able to take a company to court if they sell your data when you have told them not to, or if they are not transparent about what they do with your data or if they do not let you delete it or access your own data. emily: couldn't this law be overruled by federal privacy legislation if it comes? kartikay: that is a concern. if congress passes legislation that would preempt what is happening in california, there could be a scenario where
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everything the lobbyists are fighting for in sacramento could be null and void. emily: speaking of big tech, for years u.s. tech companies , have pushed to gain a global footprint. one of the only companies that was successful is apple. the iphone maker is just one of a handful of companies to generate significantly more money overseas than in the united states. de says thatra ovi while companies like google or amazon have struggled to grow internationally, relying on the u.s. is enough for now. she joins us to discuss. shira: the internet companies like facebook and alphabet have a lot of users outside the united states, but a significant share of their revenue continues to be generated inside the united states. the issue is that if you look at companies like facebook and google, they are generating most of their money from advertising.
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microsoft is generating most of its money from selling businesses, also a big market for amazon. in those markets, the u.s. is by far the largest market in the world. in e-commerce, china is number one and the u.s. is a distant number two. china has not in a hospitable e-commerce market for u.s. technology companies. emily: why is amazon so reliant on sales in the u.s.? is that a danger? is that an achilles heel? shira: to my surprise, amazon has gotten more reliant on the u.s. in the last five years rather than less, and part of that is because of their success with all kinds of customers. a large portion of that spending is in the u.s. u.s. or north america e-commerce sales are growing faster than e-commerce sales outside of the
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u.s. for the last couple of years. that is 69% of amazon's total sales last year comes from the united states. emily: what about all the money they have been pouring into india and other international markets? shira: that is a lot about the future. those are growth markets but they are relatively small. emily: apple has been doing well abroad despite the concerns , about sales in china. will apple's future international growth be as strong? shira: it is hard to see that. the issue for apple is the biggest smartphone growth markets are places like india and vietnam, where apple does not look like it is in a good position, their phones are relatively high compared to other smart phone companies and , they have not shown a thosegness to tailor products for a particular country's needs, so that puts them at a disadvantage in places
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like india. emily: when it comes to google and facebook, do you foresee their reliance on the united states will ever change? shira: i don't think so, not in the short term. the issue is the biggest pool of advertising is in the united states. yes that market is growing more , slowly and some of the explosive advertising growth markets like china, but the u.s. is still by far the largest. those companies are positioned well for the future, if and when you start seeing large advertising market in the developing world getting bigger as a share of total global advertising, but china is kind of the big hole. emily: they may never get access. shira: they may never get access and they may never be successful. emily: i want to get your thoughts on the newest amazon board member, adding a fifth
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woman to amazon's board, they have answered some of the pushback. what do you make of the choice? shira: in addition to the board diversity issue, she is a really great addition to that board given her long experience at pepsico. she, as a former consumer consumer products ceo knows the challenges of being a traditional company trying to pivot to the e-commerce world. she has that perspective now as an amazon board member. emily: what do you see as the international financial picture of these u.s. tech companies in the next five years? how much actually changes? shira: it is hard to see it changing materially in the next five years. amazon might be the exception. we could start seeing those outside the u.s. e-commerce
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markets like india take off. again if you are depending on , advertising or you are microsoft depending on business technology sales, the u.s. is still a huge sponge of revenues for those companies to take advantage of and i do not see that changing, even if the majority of users for facebook and google are not in the united states. it is still where the money is. emily: bloomberg opinions shira ovide. still ahead, the alibaba cofounder and executive vice joins us for an exclusive and wide ranging interview. why he is optimistic about a trade deal between the u.s. and china. listen on bloomberg radio and in the u.s. on sirius xm. this is bloomberg. ♪
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♪ emily: president trump's top trade negotiator is dialing back expectations for a sweeping trade deal with china, but joe tsai is optimistic a deal will
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happen. we caught up with him for an exclusive interview from the stanford gsb sports conference. take a listen. joe: there are a lot of issues in this deal, but the important thing is that the tariffs will stop. that will help a lot of businesses on both sides of the ocean. the chinese manufacturers will get a reprieve that will help them continue to export. if it is going to be good for the businesses operating on alibaba's platform. emily: what if that doesn't happen? joe: i think the dialogue between the united states and china is going to be a continuous dialogue. trade is not the only issue. there are issues on intellectual property, issues on industrial
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policy, but i expect that will be a continuous conversation. of course, the tariff itself is really sort of an enforcement mechanism. if you look at alibaba's business, our business is driven by domestic consumption and also corporate digitization. so even though we have some parts of our business tied to exports, most of the business within alibaba is driven by domestic consumption with 300 million consumers, middle-class consumers that are buying things. they are going to demand more products. i think over time, even if there is no trade deal now, the trade deficit between china and the united states will structurally itself as china will import more because we have an economy that is, domestic consumption has become a bigger part of the economy.
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so the chinese government is talking about over the next 15 years importing $30 trillion of goods and $10 trillion of services. that is a very important thing as american service companies in health care and banking can move to china and set up a foothold, and serve the chinese population. emily: what does it all mean for alibaba, whether or not a deal happens? joe: we operate for the long-term, so we are hopeful that a deal will happen. obviously, the markets have responded to that. but if you look at our core businesses, most of it is tied to domestic consumption so even if it doesn't happen, we will continue to chug along and focus on our strategy. our strategy in new retail is
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focused on digitizing the domestic retail sector, making retail more efficient. that is all driven by domestic consumption. emily: how optimistic are you based on what you have seen, that a deal will be reached? before, i amd always a glass half-full kind of guy. we are cautiously optimistic based on the developments. the two delegations from the countries have met several times, and president trump has said there is going to be a meeting between him and president xi at a place and time to be determined. i think these are positive developments and the signaling is pretty good. emily: we are here at the sports innovation summit at the stanford graduate school of business, and you are the co-owner of three sports teams. the brooklyn nets, new york
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liberty, san diego field. what attracted you to make these investments? joe: i love sports. i played sports throughout high school and college, and the values of what you learn on the field can carry you far in life. i encourage all kids, including my own kids, to play sports. emily: it is also a business opportunity. joe: absolutely, it is a business opportunity. emily: how much revenue are these teams driving? joe: nba teams, it is a good proposition from a business standpoint. the nba is not just a league but it is a very substantial media company and it is well-managed. the structure is set up so there is a good balance between the owners and the players, and also among the owners. i was attracted to the nba because of the international
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growth opportunities. when you look at markets like china with 300 million fans, the potential increase in the media rights in those markets, not just china but also india, mexico, indonesia, and the philippines. those opportunities will be tremendous in the future. emily: the nba just announced a branded league in africa. why not asia? we know in china, there are a lot of basketball fans. joe: i don't know. you will have to ask adam silver about the geographic location. i think the africa league will help the nba to develop players in africa. obviously, they have decided there will also be a local fan base in africa. there is a lot of developmental aspect to that league. i think it is very exciting. having leagues in other parts of
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the world is more challenging because in europe and asia, they already have local leagues that have been formed, playing games and all that. that is one of the reasons why nba picked africa. emily: there is a mixed record for sports diplomacy dating back to the 1970's and the ping-pong games, ending with president nixon visiting beijing. could sports improve the tensions between the u.s. and china? joe: i think absolutely. because when you see athletes competing on the field, and when they get off the field or the court they become friends, these are authentic stories between people. the people to people exchange, this sort of true friendship that is genuine, authentic, will help the two countries understand each other better.
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emily: that was alibaba cofounder and executive vice chair joe tsai. apple cofounder steve wozniak speaks out in an exclusive interview with bloomberg. what he thinks about facebook's mark zuckerberg, next. this is bloomberg. ♪
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emily: home exercise startup pelaton is choosing goldman sachs and j.p. morgan chase to lead its ipo. the offer could value the company at more than $8 billion. pelaton sells exercise bikes and treadmills with tablets attached that constrain live exercise classes. apple cofounder steve wozniak says he lost respect for mark zuckerberg when he saw how he testified in front of congress. he sat down with our yousef gamal el-din. take a listen.
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steve: different technologies are ongoing life things. very often when i am associated with a company, i urge them to hold off as long as they can from an ipo because then you are no longer running your own company, the shareholders are, and your positions are different. i am not looking at any specific technologies or companies that i would not think about in terms of how do we get to an ipo anyway. that is not how i think. i only think of how we make a product and will it do good for society. yousef: you have said in the past you believe bitcoin will be the world's single currency. or you hope it will be the world's single currency. are you still a believer in that? is that still a workable model? buy,: i am not sure i can but we have seen massive value destruction. we have seen massive value creation. psychology will often drive, like stock market dips, get out
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now. the psychology factor is kind of a fear thing and there was this idea, bitcoin may go up to $40,000. it went to $20,000. i had a lot of bitcoin but i never was an investor. i just wanted to experiment how to buy things around the world. when it went up high i said, wait a minute, i do not want to be one of those people. i do not invest in any stocks. i do not invest in the apple stock app. i do not want to be one of those people watching the price of bitcoin so i sold out. wherever it is now, it is way over where i bought, and i still experiment with it. yousef: we have seen tech leadership get into quite a bit of trouble online, thinking of facebook with mark zuckerberg and jack dorsey on twitter. when you see these issues -- and you have spoken clearly about this in the past -- what is the message you want to send when you see these scandals?
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steve: i think jack dorsey is doing a lot more than mark zuckerberg to correct it. i lost a lot of respect for mark zuckerberg watching him speak and answer questions and supposedly take some steps. not one penny of facebook's income, i do not trust that. there is a company in the social web called foursquare out of new york. you rate different restaurants and places you go and companies, and they keep a lot of data. they have been offered millions of dollars for the data on the users but they have turned it down because it was unethical, so you can make a choice and draw the line at a good place. i quit my facebook account. i have really never used twitter. yousef: is it time for the government to get more involved? there are a few legislative efforts, but clearly that needs
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to be taken more serious? steve: probably. regulation is good. regulation is a thing that says companies will not do certain bad things, or a country, government will not do bad things. we have a constitution and the bill of rights, the government shall not pass a law, congress shall not pass the law, the government will not do certain bad things. that kind of regulation we need some of when things are getting bad, and the united states is way behind europe recognizing issues of data privacy. world, in the mobile congress is under way, 5g and many other technologies in focus. what are you most excited about? steve: i subtract a lot of the stuff that was going on in the mobile world with cell phones, every day i wanted to look, what is new coming out? i would buy the latest products, many of them. now i have lost that interest. i do not know why.
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i am more interested in the new television sets that are televisions.k i do not know that i will benefit from 5g or that i feel the need for an increase on cellular bandwidth right now, so that will not impact me much. things i am interested in, electric cars, where they are going, what their benefits and problems are, and infrastructure for them. i am sort of at a low point, but i am waiting for apple to come back in the game with something really new and striking. yousef: given what we have seen from samsung, is there a sense that apple is falling behind in the innovation game? steve: apple has been the leader for facial id and touch id and easy payment with the phone,
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they were the leader and everyone else had to follow. they are not the leader for things like the folding phone, and that worries me because i do want a folding phone. it is one of the new technologies that does catch my attention. apple always has surprises, working on a lot of things in the background. they just got so successful with the iphone that that was their whole business for a while. now they are branching out and a lot of their services are good. i am looking for apple tv to expand. right now, i prefer my roku. emily: apple cofounder steve wozniak speaking exclusively with bloomberg. that does it for this edition of "the best of bloomberg technology." we will bring you the latest in tech throughout the week. next week, i will come to you from new york bringing you some of the biggest names based in selleck and alley. -- silicon alley. we are live streaming on twitter. check us out, and be sure to follow our global news network on twitter. ♪
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♪ carol: welcome to "bloomberg businessweek." i'm carol nassar. we are inside the magazine's headquarters here in new york. the cover story, global challenges facing the auto industry. from car production to efforts to reduce emissions and the growing popularity of ridesharing. we've got a question for you, have we reached peak car?


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