Taking precautions by drawing down water levels ahead of the storm. Global news 24 hours a day powered by more than 2600 journalists and analysts, in more than 120 countries. This is bloomberg. I am emily chang and this is bloomberg technology. The president arrives in north dakota. The latest stop on his roadshow created cap from cell mainstream and Silicon Valley on how to rewrite the tax code and will the democrats get aboard he will discuss. The divide deepens between the others faded more than 100 Business Leaders signed of 4000 on behalf immigrants whose dreams are now on hold. You hear from one of those. Facebook russian revelations, the social media giant found links to fake accounts in the runup to the president ial election. First, to our lead. President trump text roadshow is in full swing. He just wrapped up a stage in north dakota reaching across the aisle to raise democratic law makers. Easeax burden plan will the burden on individuals. As well as ended a plan to have come hereo illegally. Mark zuckerberg held a q and a with socalled dreamers on Facebook Live. Speaking at air force one congress is backing him up on this decision. Take a listen. Congress i really believe will take care of this issue. Even at very conservative members of congress. I have seen it firsthand. If they dont, well see what they can do. Take careill want to of a. We just talked about that today. Chuck and nancy would like to see something happen so what i. His you wrap up the news, we reporters. I know you have been listening in to the speech that he just said. What is your reaction to what he had to say . It is the singular ability of make what might constitute a act into a policy speech. It was a typical tycoon campaign rally. The broad this with themes. He was very short on specifics. There is no tax plan publicly available now. That is going to be a problem if they do not get one out soon. Emily he tweeted out earlier we are the highest taxed nation in the world. That will change. So it can valley obviously disagrees with him on many issues is tax one of them . Would like to see some form of tax reform that will let them bring back the tens of millions of dollars that they have parked overseas at a lower tax rate. They like the idea of being able to bring this back and use it in different ways. It could influence and use it for dealmaking. Some are talking about using a four r and d. Will it line the pockets of wealthy shareholders . That remains to be seen. The Tech Industry very much does want to see some changes on taxes. Emily it is interesting because you see the Tech Industry disagree with the president on so many things. Do think that the president can lead the way on some things. When the Business Council this standard over that charlottesville issue. A lot of people about businesses were going to stop working with the president. That is not true. There is a agenda that trump and business have. One of those is tax reform. Political equation is something that will determine if we get it or not rated trying time is running out. They will have to get some of that off their play. Major tax reform is going to be a heavy lift. Emily the former head of the Congress Text program and committee, take a listen to what he has to say. They can make significant progress. I would not be surprised if the or signing of a bill will not happen until early 2018. If they make enough progress this fall i think they have a way to move it until early next year. Emily i want to make a transition from tax and to into what is happening with daca. There are many people refusing to stay silent on this issue. Upt does that that leave it here with congress and actually taking action and running legislation the trump ultimately supports . One of the things that needs to be done is he needs to make it clear what kind of Immigration Reform that he will sign. He indicated today and his amments that he made sign clean reinstatement. Will not pleased republicans. Without republican support it is going to be very hard to get a that does withk the majority of americans wanted to do. There is a small chance that they could actually be able to reach a compromise. It remains to be seen if the republicans can support something that they consent to the president. Emily anna tweet earlier saying congress has six months to thelize daca something Obama Administration was not able to do. I will revisit the issue. We saw Mark Zuckerberg speaking on Facebook Live today. Obviously putting themselves out in front of this issue. At the same time no indication of what facebook has to do. They do to protect people should they come after them . It does some of the Trump Administration says they are not going to go after all 800,000 of these people. The people who commit crimes will be in the crosshairs. Different companies have said different things. Microsoft is a very interesting case particularly given we were just talking about taxes. The have said to the administration and congress that they want you to deal with daca first grade to us it is a bigger deal. Of companiesnch coming out and signing on to this legislation on behalf of 1500 attorney generals who are against the changes to daca. Say this is that for business and it will be bad for mexicans. Ultimately it will hurt the business. You saw three Companies Based in there is asay attorney general spearheading this. Emily speaking of how it impacted business what do you make of these companies are making less of these issues, what does that mean for conservative employees that work for these companies . Interesting you asked that. We spoke to several employees who consider themselves supporters or conservatives. They feel like it can be a very lonely place. It is not a place for you can actively state what you believe and be out as it were. When it comes to have been conservative viewpoints. You worry about how you are going to be treated. How you are going to be treated when it comes to promotions. It is not a popular place. So it can valley is not a popular place for a right viewpoint. Emily what is going to happen over the next two days when it comes to congress as they start to they obviously have a lot of work ahead of them for the next few months. Two of the major things. The debt limit and spending bill have been taken care of. Hurricane irma is very down on florida. We will see what happens with that over the next few days. If it keeps on track it could be a disaster. Congress will be rushing in to provide funding for that. After that look for some advances on tax reform. Like are many other things flood insurance, reauthorizing the faa, some other major things that they have to do. Plus the backlog of appointments including the new one that happened today. They have a lot on their plate and not much time to do it. Emily a lot of homework. Thank you both. Who took, the people to the streets outside of trump tower are not the only ones protesting the end of daca how many are fighting back. Bloomberg technology is Live Streaming on twitter. Check us out. This is bloomberg. Toly amazon is planning open the First Fulfillment Center in new york. It will open on staten island. The new center is part of a ongoing push by the ecommerce giant to house inventory closer to customers. Amazon says employees will have the opportunity to work with robotics. Before the Trump Administration announced the end of daca a swarm of Business Leaders sent a letter to the president urging him to keep the program and waste. Unless we act now to preserve 800,000ram all hardworking and people would lose their ability to work legally. Everyone of them will be at immediate risk of deportation. 68economy would lose billion in the gdp. One of the companies that signed that letter is the Online Education platform that is joining me now. She also served as the former coo of yahoo . Glad to have you back on the show. I am sure you have been talking to students who is affected by this, what are you thinking . They are nervous. There are about 65,000 students are going to debt graduate high school every year. There are a couple thousand in the system every year. It is a very difficult situation. Brought here on no fault of their own. This is a american issue. This is a practical issue. It is also a economic issue and that is how we are going to deep or 600,000 or 800,000 people who have been living here on producing with their neighbors and schools. It will eliminate the people who are working and paying taxes when we have four and a half percent unemployment. It makes very little sense on any level you look at it. Emily what are some direct steps you may take. Muchve been hearing about Mark Zuckerberg interviewing dreamers, it is my clear and of action in particular with the what they would take. What would you be doing . Keep this in the public eye as much as we can. The president of the United States and the head of the Republican Party and congress have also that they went to fix this. It is Reliant Energy book who agree with them to fix this. You ought to be able to keep attention and focus and humanized this is much as weekend. These are people who are living in the country. Doing the same things that we as americans are doing. They are contributing to the economy and our society. Likeore we humanize him mark did the better understand people will have about what we talk about. We talk about people who came here on no fault of their own. System this isn going to hurt universities. This will eliminate money that goes to the university. These are students who hate. They are not eligible for loans for example. This is a situation that has a economic problem to it if we do not fix it. Actually3 students apply to medical school. 65 enrolled last year. It is just another interesting statistic there. I am curious if someone were Bigger Company and their status not protected would you let them in . Of course it would. Everyone to be in this country to contribute to the society and live with american values. But they want to produce and pay taxes and raise their family and help us to be with the rest of the world. You want them here. According to the head of the congress they want them here too. We are going to continue to urge that they do what they are going to do. They have six months to fix this program and we hope they do a very quickly. Emily my question, if a u. S. Marshall came to get a employee who is now at the risk of deportation would you let them in . That is a question we will have to deal with if that happens. The president does not plan to make that a priority. We hope that does not happen. Towill allow that situation be dealt with if it happens. Right now we continue to urge our officials who are elected to andhe will of the people get this fixed. We are going to keep promoting it with the other companies. Emily we were speaking about this earlier. It is interesting to see so many leftleaninging a position. I wonder what this means for the employees who work in these companies. Who mayly for those have more conservative views. I wonder if those people are feeling a little left out right now. As well as what are the implications for those speaking out against their politics. We speak out about things with our employees that affect those that we serve. We are not a Political Company or organization. We do have values and american values, this is one of them. We are a company made up of people who have immigrated here. In there minorities company. We have nearly 400 employees that are from out of the country. We are creating jobs. A left orink this is a right issue. As i said the president said he wants this fixed. All right said he wants to fix this. Tock schumer said he wants fix this. It seems like a american issue. There are issues that are left or right. We try to stay focused on what our students feel is most important. Plenty of people to support along the political spectrum. Will we focus on is serving students first and these 65,000 our job is to serve them. We try not to make these political issues as much as they are american and practical issues that will affect society and the economy. Emily last question. Backtoschool time. This is what you do, what are the new trends this year that stand out to you . In Higher Education which is what we are focused on. The race for digital is on. Year,a chat earlier this it is reflected in our growth in stock. Students are using Online Learning tools increasingly. The more content we have four capabilities in terms of helping them get into college and choose the right majors. To graduate and get a better grade and our focus on getting a job and getting the skills they need. Employers working with the governors and the platform that is actually supporting the students. The trend is we keep seeing that growth and it is more digital. Emily all right. Always good to have you on the show. Thank you so much for stopping by. Go a globalokemon phenomenon. We will have a interview with the ceo, next. This is bloomberg. Emily u. S. Lawmakers passed a bill to speed up the introduction of self driving cars. The Highway Traffic Safety Administration is in charge of regulating the safety. Atpreempts competing rules the state level. Manufacturers will be able to introduce 100,000 self driving cars per year. As long as they comply with the current safety rules. The bill now moves to the senate where a bipartisan trail of senators are working on their own competing piece of legislation. After more than one year since stilllaunch pokemon go attracts a lot of people. This year speaking to bloomberg televisions ceo hints at big plans. When we launched pokemon go it was 10 of what the company intended to achieve. We have only covered 140 so far. With a hundred more there is still much they can come up with. Switch has been out for half a year, what are your impressions and how it is doing and what were your impressions before it went out . I told nintendo that it would not be a success. The age ofhought in the smartphone no one would carry around the council. It is obvious i was wrong. I came to understand that the key is simple. Software with absolute quality links to sales. Play style can be flexible if the hardware is attractive enough. Currently it is popular among early adapters. I see more potential in the switch. You mentioned a strong software. Key to the system. I want to ask you about your upcoming game or the switch. It is causing a lot of excitement. What else can you tell me about it . Work well on handheld devices. We are developing a game for the switch. I cannot give you details about what we are working on. For now we would like anyone to and ultraltra son mode. We are currently focused on providing different play styles. The pokemon ceo there. Coming up, we spoke to on the headon. His thoughts on daca up next. This is bloomberg. Lets start with first word news. Takes aim ata florida. Two other storms are forming. It is expected to drifters the coast of mexico by thursday. It would be strengthening in the atlantic. Officials say so far it does is no threat to the land. President trump and congressional leaders have agreed to an act they 7. 4 billion a package for Hurricane Harvey victims. New york senator Chuck Schumer who was at the meeting applauded the deal. This is a positive step forward. To quickly provide aid for those who are harmed. It will avoid the fall and avoid a shutdown. We all agreed that we Work Together in december to avoid this. the president likely to nominate his topic dominic economic advisor. His chances drop yesterday president for the deadly march in charlottesville. Theresa may in Office Letter for Senior Executives to sign praising her strategy. According to bloomberg the letter states the repeal bill would not prepare for life properly outside of the eu. News 24 hours a day 2600ed by more than journalists and analysts in more than 120 countries. My colleague paul allen has a look at the markets. Paul good morning. Are up for on reasonably positive day in the asiapacific with that deal temporarily in the states. The oil price is higher as well. A base metal is weak a little. In australia the dollar has dropped a little bit. Not affected by the gdp numbers on wednesday. Watching the trade vote today estimate to come in at 1 billion retail. It is expected to weaken a little. Inewhere foreign reserves august. I am paul allen in sydney. This is bloomberg technology. I am emily chang. We turn to our top story. It has metof daca with a swift rebuttal from top tech industries. At 60 of the most highly valued Tech Companies have first or Second Generation immigrant founders. Many are collectively went over 3 trillion. The inflight more than one and a half Million People last year. Training now to discuss this. Andre recently posted a article detailng the immigration after fleeing lebanon. You fled when you are 17 years old, i know this is a very personal issue for you. What is your reaction to what the white house is done . Re to be honest i am very disappointed. I always had this to leave that what makes the u. S. A very it is aplace is that place for people who are immigrants and refugees seeking a Better Future can find their home. That has been the moral of the u. S. For generations. Been part of the economic success of the United States. I think our ability to find people who are fleeing and seek a Better Future somewhere else. It is the people who showed a entrepreneur. We see those opportunities somewhere. Those companies pursue that Better Future. Theink that is part of economic story of the states. Emily the president is saying it is my great. Jobs need to come first. Immigrants are taking jobs from americans. What you have to say about that . Andre i think that is a fallacy. When you look at the data you mentioned earlier in your opening remarks did a lot of these immigrants have brought a lot about you. I am sure it is not a zerosum game. Many are employing a lot of u. S. Workers. The economy is not just about is taken up by another job. It is the total valuation of that the country. Emily speaking to the value you have created. You just raised 92 million throughout the car sharing company. I want you to tell us how it works and how it differs from other rental Car Companies like zip car. As well as the ridesharing business. Andre thank you for giving me the opportunity. We are a open marketplace. We do not control the fleet. We enable people to share them on the platform. From a tesla to a smart car and everything and the metal. We just celebrated our 4 millionth user. Much focused on these longdistance trips with the cars. We are offering rentals by a day. Most of our travelers are orking cars by the week weekend. The average is four days. On the other hand we enable our hosts with a crescent of the depreciates into a Revenue Generating aspect. That is one of the things that makes us unique. If you live in a area that is well served. Why rent a car . Ridesharing versus car sharing. Andre they coexist for a well. Most of our loyal customers are have no downside with their ownership and they may be using it more frequently. Is ridesharing can be very practical for your needs. If you want to get out of town for your weekend or go on a trip for several days. Maybe you want to go somewhere special and have a nice driving experience you can actually read your neighbors car. It is practical for people who live in city centers and who may not own a car anymore. Emily airbnb and uber are silly with a lot of regulations, what are you doing with . Andre our Biggest Issue his insurance. We provide coverage through our partner liberty mutual. With another. We provide insurance that covers the host and the guest. Insurance is a highly right like regulated industry. This notion of making money with your car is something that predates a lot of insurance laws. We are trying to help the insurance ecosystem move forward and embrace that the car is a asset that can be driven. When you look at the future of transportation. How much of it is ridesharing and car sharing and how much of it is traditional ownership and how much is the driving cars . Your business could change dramatically in the course of a decade. Re we think a big part of the future of cars and transportation is going to be a bit of a mix of all of the above. 10 years from now when the economy will be closer to what it is today. We think that Autonomous Vehicles are going to be amazing to share. To pick easy to be able you up from the hotel. To have them drive your car for one day or a weekend. Just makes sharing your car a lot easier. We think that economy is going convenient asg as hailing a cab today. Them wanting see to Bring Technology like this inhouse, is that the ultimate goal with they want to buy a company like yours . Andre i think they are interested with how we are transforming the nature of cars. Especially when you are selling premium cars. You have been doing that for decades. Gap ofhis cap ownership being too large. They cannot afford the lease or the payments. You can actually turn the car into a Revenue Generating asset. A lot more people could afford a mercedes. I think that is the core of the relationship we have with them. Emily thank you so much for joining us today. Partial victory for intel. Over 1. 62 billion. The eu court ruled that the lower court must reexamine the appeal and the case. It is one of the few companies to continue a lengthy battle against the European Commission all the way to the top court. The ramifications for Tech Companies such as google. Money up, was russian being funneled to produce political ads on facebook. We look at what the social media giant has discovered. This is bloomberg. Emily they stuck we are watching plunged into a 20 . As the Company Lower their expected revenue by 40 . Previously forecast. The germanbased Hotel Booking site does they are unable to get spending and line with spending revenue grade to a developing story. Facebook says they been investigating possible connections between advertisement purchased on their website and russia. The giant has discovered about 100,000 in ads connected to 400 on accounts that were likely run out of russia. This suggests that russian money as advertisements to influence the american election. Most of the as were bought between june and may of this year. Facebook says pachulia the accounts and pages and are providing information to the election officials. What happened . Facebook has been looking into what they called information campaign. Which is they have this sort to themious element where they are fake accounts and fake pages. They try to spread propaganda one way or the other. They had a report come out that detailed that and linked it vaguely to russia. This said money is involved in seem 12 100,000 may not like a lot taken by a lot in facebook advertisements. There were about 300 as that to certained geographic areas which we know is very important for a election. Did notst of the ads name a candidate or talk specifically about voting. They did talk about very divisive issues in the United States. Like the lgbt rights and gun rights. Immigration. S and they were trying to spark or whoever was trying behind this effort whether it was the government or a different actor was trying to spark americans ahead of the election. I know they are sharing information with regulators, is there any idea of russia being responsible . Is it clear if they had ties to the actual government . Not saying if they have ties to the government. We are looking into it. There are several intelligence committees investigating this. Ishink that facebook cooperating. They are trained to provide information where they can. The main thing that they are trying to do is prevent this drum happening in the future. They are looking at the patterns of matching it to Machine Learning poker rhythms and tried to stop this from being a problem around the world. We saw ons is a story facebook. Analysts showed that facebook and reach people who did not exist. By 10 million a are inflating these numbers up people who exist. Explain what is happening here . On one hand we are talking the estimated rate of a facebook ad. On the other hand we are looking at the numbers of the senses. Patients as they can reach more people that are in the senses. T implies that in this facebook is a place where we have real names and identities. Facebook sells advertisement space based on every there may be some fake names and identities. When you look at accounts. Whatever it may be. Facebook says that they do not need to defend this. In a lot of geographic regions there are often visitors and people who are in a place that are not actual residents of that place. The advertisers only pay for the people that they reach. Emily this Analyst Report from pivotal, they keep saying there is a 10 million difference. Of peoplether kinds that facebook is talking about, could there be to million of them . I think what this comes back haveth this debate that we had whether one year now about how much we can really trust metric properties. It facebook had a little bit of controversy last year when they said that they invited some of their metrics they gave advertisers. They fixed those problems. They were not related to go in. It did cause a ripple affect in the advertising industry. We do not really know if all of the people but they say they are reaching are actually people are if they are a fake account or if they are actually looking at these ads. Clicking ona bot the ad. They are trying to perfect the system. They are trying to work with thirdparty verifiers to make sure that these numbers are legit. Fromhile, this report their research gives more fodder that they need more transparency. Emily all right, two Great Service from you today. Thank you so much. Apple set coming up to unveil more than just the next lineup of iphones. What to expect at the steve jobs theater. Note,k programming bloomberg will have full coverage of the European Bank decision starting at 7 40 a. M. Eastern time. This is bloomberg. Googles review cameras have been revamped. The techtarget has upgraded the cameras for the first time it this according to wired magazine. The new cameras will help capture photos that are clearer, higher resolution and more vivid with color. Unlike their predecessors they will still sit on top of the cars. Apples highly anticipated project product event next week. They will also unveil not just phones. Steve jobs theater will have all announcements. It was designed by famed architecture firm. Here with me now to discuss this is alex webb. Detailsa lot of these about the theater. What do we know . Alex i am seeing some people who really have some inside knowledge. It is the one place where people have not had a chance to look at they have looked at the broader headquarters. Inside the theater there is a lot of tricks it in up their sleeves. There is a elevator, it will twist where you cant exit for the same door in a different direction. If you go down into the theater itself from the outside of the circle you can see a image. There will be a obscured wall and then you can go to the theater itself and enjoy the product unveiling. When you go back out the walls low have retracted and you will be in the demonstration area. Emily it is called the steve jobs the interviewed one of the last things he did was work with the city to get all of these things improved approved. How involved was he with the actual campus itself . Alex in the early stages he was very active. In the years since his passing it has really been johnny. He has really taken a step back from the development of the iphone. Really does have the authority on that. He has been a lot more handson with the campus itself. I think the list is very much evident of that. You may see a elevator on one side. The apple answer is making a complex and elegant. Emily this company has long been dealing with the what would comments, this certainly remind me of steve jobs. What does that say . The one hand this is very much is filed legacy to the company. On the other it is a almost steve jobs. From his shadow looms everywhere. His office is still intact as far as we know. This new one, he never worked there. It is tim cook now. I do wonder whether that will have a impact. If people will not worry about what he does. Emily it is interesting as tim cook is being more and more vocal about lyrical and moral issues. Do you think that is going to be his legacy . I think we are seeing that is the stamp he is trying to leave. Apple is responsible. Issues abouthe this. That thes very aware strength comes from apple. He does not want to be worried about that and trying to change the company. He is juggling two different balls here. Emily in the past, he is always so respectful and reflective on his legacy. Any surprises that we are expecting on tuesday next week . Alex there may be some things to come out. Think we should not gone would, there is something they could do with software. When you look at some of the acquisitions they have done. There is a chance some of that could,. We have a pretty good sense of what is happening. Those will be the headlines on tuesday. Emily that will probably be more than enough. , thank you so much for stopping by. That does it for this edition of bloomberg technology. Check out our conversation with dell ceo. We are Live Streaming on twitter, check us out. That is all for now. This is bloomberg. Our studios in new york city, this is charlie rose. Charlie welcome to the program. It is a new fall season. Congress is back in session. So we turn this evening, in the beginning, to bob costa of the washington post. Mr. Costa we see a president who is grappling with his base. Comesnts purity when it to immigration policy, who wants results, and his own instincts and advisers in the Republican Leadership want to show the Republican Party as more compassionate. Appealing to hispanic voters
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