Transcripts For BLOOMBERG Best Of Bloomberg Technology 20180210

Snap spiked after a blow away report,uarter earnings with revenues topping estimates for the First Time Since the company went public on most a year ago. The earnings were buoyed by momentum in the ad business and user growth. Fourthquarter sales jumped 72 to 785 million. We broke it down with the with alyst market analyst and a bloomberg reporter. What did snap get right this quarter . Well, they have been transitioning their advertising business to make it more automatic, more programmatic, selling ads automatically, which means they can have a bigger base of advertisers. Down,ice of ads has gone but the volume in the amount of time people look at these ads is going up, so snap has been able to make this work for them this quarter for the first time. Deborah, what is jumping out to you . We know they have been doing a lot, the whole redesign, perhaps we are seeing some of the results of that, but what do you think is really driving these results . You know, i think it is a couple factors. First of all, snapchat really needed it this quarter, because the previous quarters were not so good. This is a super positive sign for the company. I really feel that users are still heavily engaged with snapchat, thats proven out by the increase in user growth rate this quarter, and i think that advertisers, some of them have been skeptical, but they still see snapchat as being a place where they can be super experimental, or they can try new things, and where they can really start to engage with that super important youth and teen audience. Im looking at the afterhours chart on my bloomberg, still up 20 . The big question, can they sustain this over several quarters, not just one . I think that is still a huge question, because this company has proven it has a lot of visibility into the future of its business. Prior quarters included big surprises, nothing to show us future quarters wont as well. They still have a long road ahead of them , and they are competing in a market dominated by facebook and google. Yes, those big players have advertisers wanting alternatives for their money. Snap is marketing itself as an alternative, much cheaper ads, but it is still very competitive, and instagram is a growing far past what snap has in terms of products that snap invented. Right. Instagram in facebook, both accused of lifting some of snaps product ideas and executing them, sometimes even better. Deborah, what do you think the challenges our first snap going forward, in terms of what you will be watching . First of all, to put a few numbers on what sarah just said, we are forecasting that instagram will have 8 billion in worldwide ad revenue this year, compared to about 1. 8 billion for snapchat. There is quite a lot of gaps between the companies in terms of advertising revenue worldwide. However snapchat is growing at roughly the same rate, about 90 growth this year compared to about a similar amount for instagram. I get back to your question, think the competition with instagram and facebook is obviously something we are watching very, very closely. We are also watching because net jet up until now has been very aggressive with new products and new innovation, and we are starting to see things like maps not perform as well as the company had hoped. We saw spectacles not perform as well as the company had hoped. So the question is can snapchat continue to be aggressively innovative and successful at those innovations and stay a step ahead of the competition . And what about the leadership turnover . Is that a concern to you . To me, not so much. Obviously you always want strong leaders. We focus on two factors, changes in ad revenue, user changes. Both of those were positive, so i dont think the changes in the management of the company are something that is impacting either of those factors. Sarah, evan spiegel made it clear he knows people who work at the company want to hear from him more. Do you think we will start seeing more from him . I think theres a lot of confusion of the company right now because of this redesign that you mentioned earlier. It was supposed to be done by the end of the year, and now we are seeing it wont be fully rolled out until the end of the first quarter. There are clearly some things that are missing deadlines. There has been that management departure you mentioned. I think the Company Still has a lot to work out in terms of how it grows. There have also been a few rounds of layoffs recently at the company. Emily apple is pulling back on buying Corporate Bonds with its overseas cash as it prepares to bring the money home to the United States, this according to people familiar with the matter. Its 2857 billion of billion in cash is invested in corporate debt, making it a leading lender. Investors have been bracing for a market with fewer buyers since the new u. S. Tax law was enacted late last year. Coming up, has the Metoo Movement gone too far . Our exclusive conversation with Sheryl Sandberg, and her new call to action. Plus, the paypal cofounder sits down with us on his opinions about meritocracy in Silicon Valley. This is bloomberg. Emily not giving up on cryptocurrency, despite it going plunging below despite bitcoin plunging. We are long on the space. We dont sit there and watch the price, we are longhaul, whether it is a decade or many decades. Like i said earlier, we remember when bitcoin was 8, so as far as we are concerned it is all gravy. Emily their early bitcoin investors and at one point their net worth totaled 1 billion each when Digital Currency was at an alltime high. Told Bloomberg Television that increased regulation is good for Digital Currency. As one of the cofounders of paypal, max lynch and grew to be one of the most powerful men in technology, taking a center seat in Silicon Valley. His opiniontion, around diversity and hiring has evolved greatly. I covered the story in my book brotopia, now out in stores. We caught up with him and talked about how things operate at paypal. I would describe my efforts at the time, with the benefit of hindsight, as generally unaware. I was not particularly concerned with the gender balance or any kind of balance. I was trying to hire good people, and the one great source of excellent coders i knew was my alma mater, from where i came less than two years prior. I was actively vacuuming up the best and brightest that i spent time with in school, which all happened to be met. They were men of diverse ethnic origins, but there were very few women even in my class, which was quite large, and the few that i did know seemed to have switched majors coming off graduate. Emily do you think the idea of meritocracy is problematic in Silicon Valley . One of the things people who worked at paypal told me was that they believed it was a meritocracy, when in fact they were carrying you were hiring a lot of people you knew. Meritocracy in a vacuum is not a bad idea. Being able to say honestly that the people who are here have earned their spot is very powerful, saying you are the best of the best. Younside is that i select for people you know, because you dont know how to reach out into other groups, communities, flavors of engineers. You select from a fairly shallow pool. We ran out of candidates because i ran out of male friends, and there was not a lot to. Emily recruit one of theemily a lot to recruit. Emily you admit that there was a broy culture that developed, and you took action. What happened . What triggered my attention to all these things was really slides, where i started out with basically a neutral point of view, the culture, the shape itself, and while at paypal i was too young, i didnt have enough of a worldview to understand what was being shaved, i started to realize that what was forming itself without any guidance was not what i wanted to do, hard it sexistsome of behaviors, it was really not at all what i was comfortable with. When i tried to gently steer it, it wasnt going the way i was telling you. That is when i started realizing, if i dont take matters very seriously and start pushing out in drawing some bright lines on what is ok and what is expected, it wouldnt cure itself. Emily you have taken a different approach now. You are much more focused on hiring and promoting women. What are you doing differently, that you didnt do at paypal . So the most important thing we did at the firm was we took culture as a firstclass citizen. There was never a moment when we didnt ask ourselves, what does this decision, what does this framing due to our culture . This might sound embarrassing, but it was the First Company where i wrote down our core values before we hired. All companies in the past, the culture emerged, and sometimes it was better and sometimes it was not. Affirm, i came in with the view that i have to control the culture, what i wanted to be when it grows up. I want to know is the kind of place that i am proud of. Emily how do we get more people, mostly men, to understand this problem and do something about it . What do you think needs to be done . What do ceos and investors need to do . So i think theres a bunch of things, and i dont know if i have an exhaustive list. Just being aware of the fact that it is a talent for, and the way you win it isnt just by saying i will go back to the same old well and get the same people out. The way to win, what has worked for us, is too widen the net you cast. You find diverse candidates in divers places. Emily my conversation with max legend, cofounder of paypal, now ceo of affirm. Sandberg hassheryl a new call to action in the wake of the Metoo Movement, all about getting more men to mentor women. Sandbergs lien in initiative has published a survey showing the majority of men are uncomfortable working with women or mentoring them, what sandberg calls unacceptable. We sat down for an exclusive interview to talk about her new mentorher movement. Take a listen. Now is a watershed moment. Metoo has shined a light on the need to end Sexual Harassment river, and that is critically important. It is also critically important, as you write in your book, that we get more women in leadership roles. Today we are publishing a survey done by lean in and surveymonkey that shows almost half of male managers in the u. S. Are now afraid to do, and work activities with women, and it is the reaction to whats going on, men stop mentoring women. That is unacceptable, because we need more women in leadership roles, and women have long gotten less mentorship and sponsorship then men, particularly women of color. Now is the time to invest more in women, not less. So mentorher, which we are launching today, calls on all leaders to mentor women, and also to make access equal. Our survey also shows that a senior man today is 3. 5 times more likely to hesitate to have dinner with the female junior colleague than a junior male colleague, and five times less likely to feel they can travel with the junior female colleague of them male colleague. We have to make access equal. If you are not having dinner along with women, dont do it with men. Or have dinner but make sure everyone is behaving appropriately. What matters is that access for women is equal, because now is our time to invest more, not less, in getting more women into leadership roles. Emily you shared your own experiences with harassment, a hand on your leg under the table at a meeting, unwanted visits to your hotel room to the point where you had to call security. People in your survey think the reports we have heard so far of Sexual Harassment are just the tip of the iceberg. Do you agree . And what do you think is the next chapter here . I feel fortunate that everyone i have ever worked for has been not just appropriate, but supportive. That shouldnt be lucky, that should be basic. Because every woman in man deserves a safe and secure workplace, and that needs to change. But in order for it to change, we need institutional, long ranging change. We need companies of all time, organizations of all types, to adopt clear policies, policies that when reports are made, things are investigated, action is taken. We need victims to feel safe. No retribution, the Legal Support they need, the social support they need, and we need to really end the culture of complicity, were people look the other way and not feel responsible. We are all responsible for what goes on in the workforce, and importantly, we need more women in leadership. It is not a surprise to figure out that organizations that have more women in leadership roles have lower levels of Sexual Harassment and better worklife policies and perform at a higher rate. Moment, wewatershed need to make sure that we really, really continue to invest and get more women in leadership roles. Emily some people have complained that the Metoo Movement has gone too far, that some of the stories told shouldnt be told, and this is more like a public lynching. What do you think . I think the question is not if it has gone too far, but far enough. It cant just be a moment in time where people raise their voice. Brave women that have raised their voices want longstanding change, not just for the day or month, of the year or decade. That means we have to have the right institutional policies, and those policies have to include due process, investigation. Things need to be investigated and swift action needs to be taken. Thetantly, we need to end culture of complicity we need to end the process of looking the other way. Emily ed williams, the cofounder of twitter, told me in my book that he thinks if there were more women on the early twitter team early on, maybe Online Harassment and trolling wouldnt be such a problem, but they werent thinking about this enough. They were thinking about great things that could be done, not how it might be used to send Death Threats. My understanding is also that when you got to facebook, you started asking questions about the content policies, and that may well be why facebook does a much better job of this than twitter. How do you think the internet might be different, if women had been more involved and in more equal numbers building it early on . Do you think Online Harassment and trolling would be the problem it is today . I think it is clear that there need to be more women, and it has Huge Positive benefits. Higher performance for companies, better worklife policies, lower levels of Sexual Harassment. I think women play an Important Role in looking out for some of the genderbased harassment that women have long faced. I think facebook is lucky because our leader, mark zuckerberg, takes these issues every bit as seriously as i have. U. S. Think Silicon Valley would be a better place if there were more women running more companies . Absolutely. I think every industry would be a better place if there were more women running more companies, and more women in government. We fought to get here, but women are 20 of the u. S. Congress. I think we often suffer from low expectations. I remember when women got 20 of the seats in the senate in 2012, and all the articles were like, women taking over the senate. Wait a second, 50 of the population was 20 of the seats is not a takeover, it is a gap. We need to make sure that in this watershed moment, we make the longstanding change we need. No Sexual Harassment, ever, for anyone, and investing in women so that women get their share of the leadership roles. We are very far from that, but this is a moment where we can invest more to make it happen. Emily that was our schools of interview with facebook coo Sheryl Sandberg. Still ahead, with the turku aymo the better uber w case. And if you like bloomberg news, check us out on the radio. This is bloomberg. Emily this week, softbank confirmed it will take its Japanese Telecom Operation Public within a year, to separate the companys activity broadly into investing in telecom. Speaking at a news conference, the ceo said it will help him spend more time on longerterm, Global Corporate strategy, and focus more on dealmaking. Travis kalanick took the stand this week during the number waymo trade secrets trial, and on day two, waymo lawyers went after him, painting a picture of someone obsessed with winning the race for selfdriving supremacy, but they didnt necessarily get very far. Joe rosenblatt covers the courts, and was out at trial. This is his second day and waymos lawyers came out and kind of hard, not as hard as you might expect, and then on cost examination, ubers own lawyers were asking questions which clearly, he was well prepared for it. Waymo, the big surprise to me was that waymo didnt come at him very hard. There were a lot of details that waymo dug up over the course of the investigation that are very troublesome for uber, and they really didnt ask Travis Kalanick about very many of those. That was a bit of a surprise to me. Emily does that make you think waymo doesnt have that strong of a case . Initially, i was kind of wondering that, but as i puzzled through it, and as i stated in the courtroom after Travis Kalanick last, you saw what was going on. Travis kalanick offered a lot of i dont knows, i dont remembers, t on the more difficult pieces that waymo asked, as you predicted. I should have taken a better cue from you. Thinkfter he left, and i waymo figured out that is what they will get from him. Then after he left, a forensic expert, a computer forensic case, that evaluated the that evaluated the most damning evidence, came in and offered testimony about all kinds of issues,d the technical technical problems that uber has. It got very damning. It got very problematic very quickly. It was an interesting contrast to Travis Kalanicks testimony. Emily so what is next . Hopefully fewer i do not recalls. Yeah. It will be interesting larry page is still a later is still up later. He is a quiet person. I have seen him testify before, indias awkward. He will show up have to show up and show him up. So now were going to see some very difficult evidence, technical evidence, and we are going to learn how deep into the weeds this jury is willing to get. I think thats the real question. Its always a dicey proposition to guess what juries will do or what they are thinking. Juries haveence, taken the effort to really dig into stuff, and if they do that, waymos still very much alive. Emily that was joe rosenblatt. Still had, teslas standoff is only growing after the companys latest earnings report. We will bring you both sides,. Ahead and a reminder, all episodes of Bloomberg Technology are livestreaming on twitter. You can check us out weekly. This is bloomberg. We use our phones and computers the same way these days. So why do we pay to have a phone connected when were already paying for internet . Shouldnt it all just be one thing . Thats why Xfinity Mobile comes with your internet. You can get 5 lines of talk and text included at no extra cost. So all you pay for is data. Choose by the gig or unlimited. And now, get a 200 prepaid card when you buy an iphone. Its a new kind of network designed to save you money. Call, visit, or go to xfnitymobile. Com. Emily welcome back to the best of Bloomberg Technology. The tesla bull bear isnt ending anytime soon, as the Fourth Quarter results had something for both camps. They shared significantly lower than expected cash burn, while bears noted the lack of an update on model 3 production and flat model 3 deposits. We dug into both sides with a senior analyst, who currently has a buy rating, as well as cory johnson. A company that has been borrowing a lot of money, taking out a lot of customer deposits for cars that they cant build. We knew what the numbers were, but it is striking that a company that was once growing, cars produced 60 to 70 yearoveryear is now less than 1 growth in terms of the number of cars at kendall. We were hearing about the first model 3, i posted one on my twitter page that shows the real car guys looking at the car in the engineering and finding real issues. Through,can barely see and it looks really uneven. There were pieces of felt and things on the doors, it doesnt close quite right. So they are clearly struggling with the production of this model 3. It is more than they can handle right now. What we see in the Earnings Release is a lot more promise about production, as we always see, it a lot more borrowing and Free Cash Flow numbers. Emily taking a look at tesla after hours on the bloomberg, shares not changed much right now. What do you think . Are the things that core is talking about here a concern . If you look at the results, what you are seeing is real progress. They build 223 model 3 cars in the first quarter, they built over 1500 in the Fourth Quarter, and based on the Production Guidance for the first quarter, they are going to build probably north of 15,000 vehicles. If they can continue on this trajectory, i think it is important they reiterate their Production Guidance from the start of the year. You have a company that will grow revenues roughly 100 , to about 25 billion. It is very hard to find a multibillion Dollar Company growing at this rate. Emily cory, lets take a look at the bloomberg. Production. Tesla cars produced each quarter over the last several quarters. We are seeing it holding steady. What does that tell you . Producing 1500 cars and a quarter and a couple hundred the previous quarter isnt what investors thought they were getting involved in. I would be surprised if anyone believes the production guidelines, thinking they would produce what they said they were produce since they keep missing estimates. I think the whole world wants this company to be a great success. We want great cars that dont burn a lot of fuel, that are great for the environment, that look cool and are safe and fun, but tesla cant build them. Emily romit, do you believe it . No, i mean, just look at the numbers. They increase their production by a factor of 10 in the Fourth Quarter, and theyre targeting to increase by another factor of 10 in the first quarter. What are you going to sit here and say they will hit the numbers . Yeah. We have these production numbers, and if you look at the price target of 500, it is predicated on them growing revenues 100 this year. Were in with these forecasts. Emily what makes you so confident . This is a company and the ceo that has admitted it is facing production hell and has missed many targets. Its true, but you have to think about it this way. The world is moving toward electric vehicles, and tesla is really the only game in town, and will be for the next two years. Where they get to 4000 units by the end of twotwo or 5000 misses the point. You have a multibillion Dollar Company that is growing at a very significant rate. If you look at the reviews, the customer reviews of the model 3, and we have driven one ourselves, they are phenomenal. For most people it will be the best car they will overdrive. You see that in the backlogs. They have a backlog of over 500,000 reservations that continue to grow. In the rightm car segment of the Automotive Market and all they need to do is get a couple percent, to gain a couple percent market share in the Automobile Industry and they will be doing more than 100 billion in revenue. I think the stock will be quite a bit higher. Emily number incident managing director romit shaha a and cory johnson. Facebook has officially launched the worlds most powerful locket. The falcon heavy lifted off from the space under tuesday to embark on its first test flight. It was carrying a red tesla roadster, on an endless road trip past mars. Following the launch, spacex did something never before seen in space history it really landed multiple rockets back on earth. Boosterse 315 story came back and landed upright at cape canaveral. They landed at the same time, sidebyside. This is a major milestone the companys quest to grow its Customer Base and fund its vision of making life multiplanetary. Coming up, after facing threats and harassment online, breanna wu decided to take which he knows about the Tech Industry and run for congress, to fight for the rights of online users in washington. We will speak with her next. Plus, megan smith joins us to talk about the challenges surrounding diversity in the workplace and building a more inclusive center. This is bloomberg. Emily over the last year, big tech has stood accused of transgressions like selling campaign ads to shadowy russian groups and not doing enough to fight harassment and threats on their own platform. Grill the will, who worked in the video gaming industry and is now running for congress in massachusetts, is here to explain how she wants to enact change in tech. She knows from personal experience how visceral it can be. She also played a Critical Role in a chapter of my new book, brotopia. Take us back to gamer gate. Some people may not remember just how bad it was. It was a few years ago, and suddenly you have what seemed to be the entire gaming industry attacking you. It was truly harsh. The summer leading up to gamer gate, what happened is the forces that became the altright found the playbook to silence any woman in the gaming industry that they didnt like. They would go after her career, they would critique her, send her threats, basically tried to get her fired from her job, and this was happening left and right. In ourzed that the men field were not going to speak out for the women that were being run out. I had many back channel conversations, asking them to do the right thing, and they wouldnt. So what i learned during game or was i had to do the right thing myself. It led to theres no good way to have law and order episodes eight about you, but that is what happened. Emily you were getting threats on twitter and facebook. And in real life. Emily physical threats. People through a brick through the window of my home. Just a few days ago, i had somebody outside my new home taking pictures. Emily so you are still getting harassed. Absolutely, absolutely. An award forg with the sexist past, the man that founded atari. I spoke out about that, and the Death Threats and rape threats are back again. It is exhausting to deal with. Emily i do know that Nolan Bushnell issued an apology. He did. Emily one of the things i talk about in the book is, what if women had been warned about had been involved in facebook and twitter and the beginning. The cofounder of twitter thinks Online Harassment in trolling might not be such a problem, and women to be such a problem, if there have been women on the early teen. He said we just werent thinking about it. We were thinking about the wonderful and Amazing Things that could be done, not how easily it could be used to hurl Death Threats. Do you think having more women in the design of, lets say, twitter or facebook or read it, than Online Harassment would not exist . I wouldnt say it wouldnt exist, because it would exist in different forms. If you dont have people at the table that have different problems, like putting their input into a product, it is going to be a worse product. The Tech Industry creates products that work for a very small segment of the population, and it doesnt work very well for me. Its not just the harassment. There a larger Business Case to be made here. In my industry, video games, women make up more than half of the audience of gamers these days. We are a sliver of the people actually running game studios. There is so much money leaving women at the table. Emily what do you think the changes twitter and facebook have made . For me personally, i think twitter has done a lot of work that doesnt get credited. I see the filters they put in place that stop me from seeing the Death Threats, so i do appreciate that. I think they have taken steps, but theyre still a long way to go. Emily i know that is part of your platform, protecting users. Are there laws currently that if you get attacked online, there is actual recourse . Is it illegal to do that . The worlds most preeminent legal expert on the subject, it is illegal, but it is worth noting that the tools we have our laws written in the 1990s, and the world has changed a lot since the 1990s. We need a congress that can come in and write those laws, and more importantly, fund divisions of the fbi that can actually go look at these crimes and prosecute them. Due to the freedom of information request, we have people that send me the most explicit, horrific Death Threats you can imagine sent straight to the fbi, but they chose not to bring that to trial and prosecute those people. Find a to, i believe, certain division of the fbi that is going to look into this kind of extreme cases online and make them eat the justice system. Emily how big do you think the gaming industry would be if women have been more involved in creating the games . We would have better games. We would have much better games. To you know how bored i am with firstperson shooters, where you kill a Million People and get an ending screen . We would have much better games. We would have better stories, that are characters, we would be making more money. The Game Industry is sick, and we are not in a great place right now. Emily how much progress has been made since game or ga gamer gate . I wish i could say i stood up because i believed the men in our field would do the right thing and change, but we just havent seen it. With the Metoo Movement right only consequences we have seen for that in my field is one editorinchief fired about it, one freelancer fired, nolan bush not getting an award. Emily so why should we vote for you . I think we need a generation of legislators that are born from technology. This is not bipartisan this is a bipartisan issue. Cybersecurity is a huge threat to the country right now. Do you remember the botnet that took down most of the information infrastructure couple years ago . That was to teenagers doing that. Double weve got to really double down on cybersecurity. Theres a litany of perspectives here are not being heard by our current congress. Emily thanks to briand a wi breanna wu. This week, we also heard from someone who had championed improving gender diversity in the workforce, the chief Technology Officer of the United States under president obama and Vice President of google before that. Megan smith joined us from washington. Theres people from all backgrounds across the country who would love to be part of the tech sector. Coming into town, cheyenne, denver, we get the word out and they were coming in. Tech companies are showing up, people are showing up for the mentoring. A lot of people want in on these highpaying jobs that pay 50 more than the average american salary. There are hundreds of thousands of jobs open in america in every sector. All companies are Software Tech companies at this point. Emily and yet gender representation in computing, women make up 25 of computing jobs, blacks and latinos are downright depressing, and Women Led Companies are getting 2 of funding. Why do you think that is . Extraordinary sexism and racism, and we have kind of talked about this culture im about halfway through your book, i know so many people in there. Its full of we got ourselves that receivesile funding. Over 90 of money from the venture world is going to men. Is going to Silicon Valley, new york, and boston. We were in columbus, ohio, which it is getting in one year what Silicon Valley gets in a week. Its diversity of location, people. We have so much talent in america. I am encouraged because i saw so many extraordinary entrepreneurs from all backgrounds that we need to get behind. Emily im not sure if you have gotten through the google chapter yet, but i write in the book that google founders larry page inserted brent focus on hiring women, like Sheryl Sandberg in Susan Wojcicki and yourself, and if you look at the numbers today, googles numbers are average, and they are facing numbers from the department of labor about pay disparity. What do you think went wrong . What is the lesson in that . It is in all of the companies, we just had extraordinary bias built in. As were asking questions, leadership really has to make this a very top priority. The leaders of all the Companies Care about diversity, but it needs to move from number 20 two number one to three. Diverse Companies Make better products, so what is a shareholder value opportunity for everybody. We really need to do it. Theres a lot of stuff most companies are doing. Piece listing all the things that leaders can do, there are so many practices that would make a huge difference of people would pick them up. We really have a reckoning in the form of times up. Of history that brought us to this place, but none of us creators problem. But once we know about it, lets go. Emily discrimination is one thing, sexualharassment is another. What do you think about the criticism of the Metoo Movement, that it has crossed the line . Sexualharassment is rampant, and it is very clear from all the brave people speaking up. Many men are in shock learning how rampant it is, and we really need women and men to come together and push forward. My sisterinlaw, when she was a young engineer in the 1970s, used to have a hustler centerfold above her lab bench as she was doing chip design, because that was normal. You open a book with a people werehat wa using to bench test the different screen, and it was a picture of a woman, but actually it was a fisher of a completely naked woman from playboy. When i was at google, a story you dont know, when i found out about this, i asked the head of engineering if we could stop using it, and he said of course, and we immediately stopped. Men and women can work together. None of us created a problem but it is longstanding. You are also right about ada lovelace. She wasnt even allowed to write a proper paper, the founder of algorithms. She took a 20 page piece that she translated, and she had 55 page thesis of what modern computing what would be this idea of algorithms. Shes the founder of what has become computer programming, and we need to know about her. I had never heard of her until i was at 10 downing street. Emily i am so glad to hear that story, about how receptive management was. You mentioned some prescriptive things that companies can do, and i am curious, in your work, what are the top three things that people who want to make this a priority can do, whether their companies are big or small . Whats exciting is there are very good things to do. For example, leader is just talking about it one of the greatest moves was ibm, just prioritizing this part of the transition in the 1990s. He took this employee Resource Groups everyone had, lgbt groups, womens groups, veterans groups, all these different groups, and he connected his executive team, which was not as diverse, to those employees, and created not just talking to the once in a while the really knowing. Suddenly this voice of many more employees was coming out, and he asks those people very specifically how do they get more employees, or customers, or suppliers from your community, how can i help you thrive at ibm . It made huge difference. The move there is a structured, broader conversation, and look for what is working and share that and make it a broader. Emily thanks to megan smith, ceo of shift 7. Coming up, j wiley walks free after a year in prison for bribery. We had to seoul for the latest, next. This is bloomberg. Emily some contracts on last weeks shakeup at airbnb after the annual planning meeting in san francisco. The cofounder and ceo privately told his then cfo that airbnb was putting off its initial public offering. He had reportedly been lining up investors and was eyeing the jump to coo. A protested the ipo delay, and by the end of the meeting, he was out of a job. Delivery hero is turning a corner after the food delivery startup reported 2017 sales exceeded company guidance. Revenue jumped as much as 6. 5 . Bloomberg news spoke to the companys ceo and spoke if delivery here has a sufficient scale globally. Yeah, absolutely. Were the leading platform in 35 this scalebally, and is still growing very fast and will continue to do so. Emily in south korea, Samsung Electronics air jay y. Lee is free to leave prison after being found guilty in a bribery scandal. He was initially put on probation. He was caught in a corruption probe that brought down the former south korean president. We went live to soul and spoke with stephen engle. Kits like ripping off a bandaid before the wound is fully healed for many south koreans. They thought six months ago this cozy relationship between businessmen and politicians was finally they turned a new page on that. They thought win the District Court in august handed down the fiveyear prison sentence for various charges, including corruption and influence peddling with the now deposed president , but now after this high court, the appellate court, ruled yesterday that they would lower the sentence to 2. 5 years, he can walk free, and he walked free from the Seoul Detention Center yesterday and gave a little statement. He read from a paper saying he apologized for not showing his best side. But i the same time he is going back to the company, and it could be business as usual again for south korea. Emily so you do expect them to go back to the company and go back into an operating role . We talked about the fact that samsung hasnt been affected, when you look at the products, it hasnt been affected, the business hasnt been affected, and he is going to slot right back in . We dont know if he will go back into the same kind of role he had. Keep in mind, they put new division heads, including a new ceo,s the former semiconductor chief at samsung they put new leadership at the end of the third quarter. And you are right, the company has been doing great. The Fourth Quarter was gang buster. It didnt meet expectations but still a very good number in chips and mobile phones and screens. We dont know if he is going back to the company, but keep in mind, as you rightfully set at the top, of a past chairman our heads of companies, including lees father. They have been convicted of various crimes, they were all given suspended sentences and went right back to their company. I think there will be a cooling off period, we will see how the public reacts. Then going forward, the people we are speaking to are saying this could be bad for activist investors who perhaps want change within the company. They could go on a big,. Massive acquisitions spree they could do what they want at the expense the minority shareholders. That is the worstcase scenario according to some analysts. Emily bloombergstephen engle from seouls. That does it for this edition of the best of Bloomberg Technology. We will bring you all the latest in tech throughout the week. We have the former ceo of twitter joining us on monday. Tune in everyday 5 00 p. M. In new york, and all episodes of Bloomberg Technology are livestreaming on twitter. Check us out weekdays. Thats all for now. This is bloomberg. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Nejra the battle, how successful will they be . 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