Transcripts For BLOOMBERG Bloomberg Technology 20240713

Selling the rest of his shares. What is next for him and the company . Regulation, legal and legislative hurdles continue, especially for overseas apps. We will hear from senator Marsha Blackburn on how much more needs to be done. First, our top story, and a lot of Market Action on thursday, specifically in the tech sector. The nasdaq closed above 9000. It has returned more than 35 the tech sector has now returned more than 35 this year and is on track for its best year since 2013. One of the best performers has been apple. On a point basis, apple is one of the best performers in the s p 500. It has outperformed on a percentage basis. Another high, another day, another record at tesla, 430 a closing out at 430 a share. Tesla and elon musk have defied the shorts in the last few months and we will have more on teslas record coming up. First, i want to look at the 2019 story of uber. The Ridesharing Company went public in the spring, but has faced a barrage of legal hurdles. Some battles were fought over its International Expansion plans, with london stripping the company of its license. Another issue, whether drivers are contract workers or employees entitled to benefits. This week, we covered the man who cofounded the company, travis kalanick, and his desire to leave it all in the rearview mirror. We reported tuesday that kalanick is stepping down from ubers board and has sold all of his remaining uber shares. He was ousted as ceo in 2017 following months of chaos and controversy. Danmore, i want to bring in ives and our Technology Senior executive editor, brad stone. Does this help simplify it all . I dont think so. It does not simplify things anymore than 2017 when travis was ousted from the ceo spot, went to the board. I guess he was the largest shareholder and he was on the board but focused on his new company, cloud kitchen. He started selling the stock in early november after the postipo block expired. This is a little bit of a sort of slow moving divorce. From what i hear, traviss voice was not all that loud, so it codifies things already underway. Taylor dan, do you agree . Did anything change for you on tuesday on this announcement . It ended a dark chapter. He sells them 3 billion worth of shares. It has been an overhang on the stock. It would be awkward if he remained on the board. It speaks to uber being a train wreck since the ipo. This is the final chapter. Now for investors, the hope is optimism going into 2020, but there is a lot of pressure. There is a fork in the road situation. When you look at uber, that is the issue right now. Look at what look at some of the issues they have faced. I think right now there are a lot of worries going into 2020. Taylor brad, you are nodding your head. What are some of the issues they will be facing . One issue is profitability. This is a company that is still losing billions of dollars. It is 12 years old. Its core market, ridesharing in north america growth has slowed, so investors want to see growth in the newer geographies, also uber eats. Growth20 of ubers bookings. The question is can it keep growing. The ceo has put a stake in the ground, profitability is around the corner, but investors want to see it get there. Taylor investors do want to see it. If you want to look at a chart im showing inside my terminal, uber and lyft, both down now 30 since the ipo. Uber has been on an uptrend early to mid december. Dan, in your case, what is the bullish thesis for uber . Mean, for uber right now, you look at underlying growth not just drivers, but user penetration, today, the opportunity to monetize that going forward. If you look at growth and profitability in 2021, and if you look at uber eats, i see an eight dollar to 10 overhang on the stock. The question right now for uber is, do they cut that business or significantly get to a point of profitability, because it has been an anchor on the ship. Its the some of their parts. Of their parts. Investors right now, it continues to be a heartburn situation because of execution, overhang, i think as well as just miscommunication with the street. It has been that trifecta. Taylor brad, we were talking about uber eats, and if i want full circle and tie this to travis kalanick, we were talking about cloud kitchen. Where do we think kalanick might be headed next . Its funny, because he has really this company that could be a partner with uber. It is this virtual restaurant idea. You can start these kitchens, at these kitchens, lease the space to restaurants, and fulfill online delivery. You cant walk in and get a table. They are purely for the online business. An uber eats. Elp o uber eats also works with doordash, and travis has been hiring former uber employees and uber has gotten upset about that. Clearly, this could be an accelerant to the uber eats business, but they could find themselves working with and helping ubers competitors. Taylor dan, i spoke with mark mahaney of rbc this week, and top pick for 2020. He calls it peak regulatory fear, where there is so much fear about regulation, and he said it is overblown. What are your thoughts on regulation overhang on uber . Look, a ton of respect for mark and his call on uber. I am with him in terms of how stocks riskreward into 2020 but the big issue, the black cloud, that could be the gut punch to the business model, the gig economy, as well as uber. It needs to be resolved in sacramento. The broader worry for investors that i speak with, its not just california, but how about other states and other countries . Look at london, which continues to be an issue. I think regulatory, no doubt, is an overhang, but uber need to handhold much better rather than the disaster story we have seen over the last six months. Taylor dan, finally here, can you distinguish between uber and lyft, they are both ridesharing, but can you pick one over the other . I think lyft has a better shot of working in the near term. Domestic, which is the key. No overhang from the food delivery piece, which is important. I think it is more of a pure play, less regulatory issues. I think in the near term, its going to be easier for lyft to work than uber. I think both names work, but i think it will be an uphill battle for uber in the near term given the broader regulatory issues, especially london front and center. That is a focus for investors. Taylor Bloomberg Technologys brad stone, thank you for joining us. Dan ives, you are sticking , youank you dan ives are sticking around. Amazon said it had a record holiday season. The online giant said billions of items shipped and devices like the echo dot sold. The number of items delivered with same day shipping quadrupled compared to last holiday season. Coming up, tesla shares trading at an alltime high. Wedbush raising its price target on the stock from 100 to 370 this morning. We will bring you the latest. If you like bloomberg news, check us out on the radio come the bloomberg app, bloomberg. Com, and in the u. S. On sirius xm. This is bloomberg. Taylor tesla shares trading at an alltime high, up 1100 since up more than 1100 since going public in 2010. According to wedbush analyst dan ives, the turnaround in the stock is looking more credible. He raised his price target to 370 from 270. Take a look at this chart im showing in my terminal. At 370, you are higher than the median average estimate of the street, which is 296. But frankly, the stock has run ahead. What do you see as your bull thesis . Now, ifk, i think right the last six at months, it has been massively impressive what they have been able to do in terms of turning this around for demand and profitability. I view the stock as a base and bull case, so base case, 370. Bull case, 580 to 600. If theyre able to execute in this china thesis, the upward trajectory in terms of demand, you can see it the stock go much higher. This gets us to a base case. Bull case, 580 to 600. I thinko 600, and i think a love that really rests on china. To ar dan, ive spoken few neutral bearish analysts who are concerned about demand in china. Do you have any sense of what could be a bear case if something were to happen, may be the economy starts to slow . What do you need to happen for you to turn more bearish . Dan in terms of work on the ground in asia, and overall demand, how quick could you get to 100,000 units in china . Could that be quicker than the u. S. Or europe . If the answer is yes, then this then i think this is something that really could take the story to the next level. In terms of the bear thesis, ultimately, you hit some sort of regulatory road block in china giga three hits a snag, or , you have competition that slows down the underlying demand story in china. That would be the bear thesis. Some have been skeptical, as you and me have talked about many times over the last six months. Elon musk has proved things over the last few quarters. Stocks had a parabolic short squeeze, but china is the next leg of the growth story. Taylor so much of the bull thesis relies on demand for the model three. That is the least profitable of all the models. Demand point do you need to shift to the more profitable models . Dan when you look at s and x, demand has started to tail off. What has been key to the tesla bull thesis and the stock going from 300 to now 430, it is really profitability. They have done a great job getting profitability on core model three and what that trajectory looks like. But i do agree, you need to see. It is really software and sort of upticks within the actual versions. You need to see that Software Version from selfdriving to others, thats an extra 5,000, 7,000, 10,000 per car. That is all profits that go to the bottom line, so that is the key, the Gross Margins story for tesla over the coming quarters. Taylor dan, come and take a look at a chart im looking at in my terminal. They had a big surprise profit last quarter. They are cutting their way towards profit. Is that sustainable in 2020 . , that isink right now why we are still waiting. The rubber does meet the road. It will be tough to cut their way to profitability on that trajectory, especially juggling with china,lls insurance, robo taxis, others. Thats why the next few quarters, this is a stock that hits a speedbump in the bears come out of hibernation mode and here we go again or taylor sorry to cut you off. When does tesla need to tap the Capital Markets again . Dan well, as of right now, if they could stay profitable, they dont need to tap the Capital Markets. If they hit a speedbump, you go into the red ink, 2021, you could start to hit Capital Markets. That has been the huge overhang on the stock. Many investors say how come it has had such a huge run . Now with the profitability in demand, it doesnt look like they have to Access Capital after accessing it earlier this year. That is the key to the stock. Taylor who is the competition . Dan competition, many far and ine, if you look not just the u. S. , as well as internationally. I think front and center really is going to be in europe, in terms of when you look at the competition they are seeing, does it impact them, especially countries like norway. There is one key competitor. Right now there is a moat. Does it hit them in terms of demand . I dont think you will see that until q1 and q2. That is why the tesla bulls feel there is fuel in the tank. We are still wait and see, but no doubt, the fundamental story has changed over the last six months. Taylor dan ives of wedbush, you are staying with us, because up next, we are going to go through your research on what to expect from big tech in 2020. This is bloomberg. Taylor we are back with dan ives of wedbush. Hes an analyst. I want to look forward to 2020. You know more than anybody else. It would not be a day of technology if we did not mention apple. Here, thanks to you, and what we get more street highs. Now 350 a share. Take a look at this chart in my terminal. That is well above the median analyst and where the company is treating now, so why 350 . Dan it is a continuation of our thesis playing out this year into next year in terms of the super cycle. It really comes down to the math, 900 million iphones worldwide. Those, 350 million have not upgraded in 39 months. We are going into a super cycle, 5g on the tail end of that, and when you look at that, some of the parts, i think this is a rerating stock that continues to go higher. I think 350 is base case. I continue to look out two, three years you could see a , stock that starts to approach 1. 5 trillion to 2 trillion in terms of that core thesis playing up for the next two years. Taylor what if the super cycle upgrade doesnt materialize . Dan what happens if 5g is a bust . Especially on the first part, i look at the iphone 11, you look at the trajectory going into later this year. From our work in asia, it looks like the line in the sand is about 200 Million Units with the 5g cycle, so in terms of suppliers, all indications are that will be a strong product cycle. There could be speedbumps and we will hit those in a given quarter going into 2020. Go back 5, 6to years in terms of where ive seen it. That is why we have such a bull thesis on apple in terms of the iphone in terms of services and rerating. Taylor part of the bull thesis is a supreme balance sheet. I am taking a look at another 100 showing frankly billion of net cash, cash after the debt they have. What is the best use of cash . Dan it generates 60 billion in free cash flow. I continue to believe they will get vertically integrated. They will have more technology phone. The you saw the intel 5g acquisition, i could see more of those, but i do think content is what they go after. I think they will acquire a studio in 2020, mgm, lionsgate, a handful of others that i think would fit the bill, because content is key, that is services. When you look at the streaming tv service, that is something they could look to acquire. They will continue buybacks significantly, but i do believe cupertino gets more inquisitive gets more acquisitive in 2020. Taylor i want to go to microsoft. According to the bloomberg terminal, you still have an outperform rating on microsoft. I keep hearing their azure cloud product is poised to benefit more than amazon from the shift to cloud. Do you agree . That continues to be why it top pick, along with apple. The ceo in my opinion, covering tech for 20 years, it is one of the most jawdropping turnarounds i have seen for any tech company. Because right now, microsoft is the cloud play. I think they further narrowed that gap with aws. Look at the jedi deal. I think on the first phase of cloud, it was amazon. They won that. The next phase will be microsoft. That is why it is a rerating stock and numbers continue to go higher. That is one that is only halfway through this cloud story playing out. Taylor Microsoft Teams product is a big competitor to slack, which you have an underperform rating on. Walk me through why you will be shying away from slack. Dan not to be too game of thrones here, but i think winter is coming for slack. When you look at teams in terms of where that is focused on the broader azure 365 holistic vision, teams goes up against slack. What will be tougher and tougher is that slack tries to penetrate their core microsoft install base, which is key to the bull thesis. Slack is a stock that will go significantly lower from here because of that competition. It is tougher and tougher to go microsoft on this area. Slack is a phenomenal company, everything they have done, but i just think some darker days ahead. Taylor you also cover cyber stocks, especially as we head into an Election Year in 2020, what is your thesis on cybersecurity . Dan thesis is i. T. Spending is going to go 3 to 4 . Cybersecurity as of right now is six to seven times that number going into 2020. In terms of cybersecurity, that continues to be i think it is a golden age for cybersecurity. I look at names like palo alto, point, you are seeing more and more data moved to the cloud. You have to protect that. Today, only 30 of workloads are in the cloud. That will go to 50 in the next two years. A big beneficiary is cybersecurity. Thats why in my opinion going into 2020, cloud and cybersecurity are the two key themes, especially in software, where i want to be invested. I think there will be a lot of m a and cybersecurity. It is fertile and ripe for consolidation. Taylor you heard it here first, cloud and cybersecurity. Wedbush managing director dan ives, thank you for joining us. Coming up, senator john h awley is making his mark by taking on big tech. We will hear from him on how he plans to make sure Companies Like facebook and google respect your privacy. That is next. This is bloomberg. Taylor senator josh hawley may be the junior senator from missouri, but hes making a name for himself by being one of the senates most outspoken critics of big tech. He has introduced bills to make big tech more transparent. Hawleye with senator in november about taking on big tech, starting with a letter he sent facebook demanding they explain their location Data Tracking policies. Senator Hawley Facebook has said to users that users can turn off location tracking, but it turns out you cannot. Even if you say you dont want to be tracked by facebook, facebook on your phone continues to scan all the wifi in your area and continues to use your cellular information and continues to transmit that information to facebook. This is another misrepresentation, and i would like to know why facebook is telling users they can stop tracking when, in fact, they cannot stop tracking. Google does the same thing, by the way, and i think this is one more instance of Big Tech Companies not being honest with us about the data they are collecting. Taylor so you think they are purposely misleading users . Senator hawley i dont know how to read it any other way. I mean, you read the post facebook put up for all of its users saying you can stop facebook from learning your precise location a very lawyerly phrase, as it turns out. I think the normal consumer would never imagine if they say i want to turn off my Location Services, that facebook is still tracking them, still tracking wifi, still using cellular data, the Cellular Network to pinpoint their location. I think it is very misleading. Taylor what would you like to hear back in response from facebook . Senator hawley i would like to hear the facts. I would like to hear their explanation for the difference between what they have told consumers and users and what they are actually doing. There is a huge gap there, and i would like to hear them explain it in their own words, actually come clean, be honest. Be honest, and set out the facts. Really, this gets to the fact why we need to pass legislation. Congress needs to pass legislation that gives every single american the right to opt out of being tracked, period. No backdoors, no workarounds. Every american should say i dont want to be tracked. Taylor are you also planning to write a letter to apple and google, given that it runs on the ios software and googles Android System . Senator hawley well, google is already well aware of my concerns in the area, as is apple. Google has similar problems. Google testified to me under oath that their users could turn off Location Services and not be tracked. Thats also not true. The Android Phone constantly scans for wifi networks, constantly monitors your Cellular Network, even if Location Services are off, and it transmits that information to google. As i say, Tech Companies are really all doing the same thing it is same thing, it is misrepresenting their position to consumers while they collect this information. They need to stop. Taylor to be fair, weve heard a lot about data privacy. We have seen a few existing privacy legislation come out. They have not gone anywhere. Why do you think yours has a chance to go somewhere . Senator hawley well, for one thing, it has bipartisan support. The do not track bill gives power to every gives the ,ight for every american to say i dont want to be tracked. I dont want my location to be tracked. I dont want google or facebook or twitter or anybody to scoop up information about me. It is sponsored by senator feinstein from california, senator warren from virginia. It is a broad, bipartisan measure that consumers deserve to have. Taylor that was senator josh hawley of missouri. Facebook Ceo Mark Zuckerberg visited washington, d. C. In september. He had dinner with a group of senators, including virginia senator mark warner. He spoke to Kevin Cirilli about what they had agreed on at the dinner table. Senator warner i think mr. Zuckerberg acknowledged selfregulation is not going to cut it. There needs to be rules of the road. They need to include more transparency, more protection for privacy, the ability for americans to know if they are talking to a human being versus a bot, and that we have to move around Election Security issues. On a lot of these issues, i felt there was not a full meeting of the minds. We did not go through legislation, but i think he realizes that the status quo and the kind of days of the wild, wild west are over. In terms of antitrust investigations, and whether or not facebook is too big, did that topic come up . Where does that stand in the senate . Senator warner a number of Judiciary Committee members were there. Whatot going to get into specific questions they asked. I think there was more conversation about things like Election Security, like identity validation so that we can cut back on some of the hate speech, the manipulation that oftentimes has been used by foreign spy services basically trying to represent themselves as americans, but the specific comments on issues like that, i will let members raise those issues. In terms of the timeline of one some type of when some type of regulation will happen with big tech, what is the timeline on that . Senator warner my sense is it should be sooner than later. A lot of work has been done on privacy. There is a series of bills ive got around transparency that are all bipartisan. I think almost all this legislation will get 70, 75 votes. One of the concerns has been that the white house has been reluctant, it seems, to have anything particularly around Election Security because it somehow makes them feel like 2016 might not have been valid. Im not looking to relitigate 2016. Im looking to make sure our system is safe in 2020. Switching gears, there is a whistleblower complaint about President Trump. What has the Intelligence Committee been doing on that issue, and will there be subpoenas issued in order to find out exactly who this was . I cannot comment about any of the content of what may or may not have been driven, but i can tell you that our Bipartisan Committee want to hear from both the acting director of National Intelligence and the Inspector General of the ic. There is a great difference about how important this whistleblower complaint is. The law is clear, if there is disagreement, Congress Still has a right to know because the most important thing we can do is we have to protect whistleblowers. If they see something, they should say something, and they should not fear retribution. This current circumstance where it is kind of in this backandforth black hole of no information and no disclosure, even to the appropriate members of Congress Just cannot stand. Taylor that was senator mark warner of virginia. And coming up, a summit where lawmakers critique social media platforms. We will hear from tennessee senator Marsha Blackburn, who was inside the white houses closed door event. Thats next. This is bloomberg. Taylor President Trump held a social media summit in july. Several rightwing leaders, lawmakers, and president ial fans headed to the white house to discuss political bias on social media platforms. One of them was senator Marsha Blackburn of tennessee, who had been a strong critic of Companies Like snapchat and tiktok. She spoke to emily chang from d. C. Blackburn of tennessee, who had senator blackburn there are cases where child predators, pedophiles, have been arrested, convicted. They abuse snap two colors and ensnareerce or children, threatening to put their video on social media unless they send more videos. This is something that parents need to have the tool to turn this off. There needs to be explicit instructions for parents how to handle this. The other thing with snap is the snap map application that is there. Unless that is turned off or properly set, these children can be identified and their feed on snap can be identified with their location. The third thing is the discover section. I am horrified when i look through that at some of the information that children can get into through that discover feed. And emily, with one click or one tap, what these children could be exposed to is awful. Emily what kind of legislation specifically do you consider proposing or think you can accomplish in order to fix these particular issues . Whether its a snap, facebook, twitter, or any other company . Senator blackburn yesterday at our committee hearing, we talked a little bit about this because what we want to do is make certain parents have the toolbox and that social Media Outlets are going to work with us on this. Privacy legislation is a big one here. Making certain that individuals have the right to disallow a social media platform to access their data to do that data mining, to get in there, and grabbing this information, and that needs to be explicit, and the social media platforms ought not to be able to disallow use of their service. They have really made billions of dollars off your data. Data is a valuable resource, so as we work through this issue this year, im looking forward to working with them to be certain that we address these issues of privacy and Data Security, responsible usage, as i said, antitrust, censorship, competition, all of that needs to be reviewed so that we are ready to move forward as we see 5g begin commercialization. Aily you also just met with very early facebook employee who has argued facebook should be broken up. In a tweet, you said the meeting was refreshing, and this guy knows a thing or two about what is coming next four big tech. One thing we both agree on we cannot just move fast and break things. Given that he has argued to break up facebook, you also have senator Elizabeth Warren arguing to break up several Big Tech Companies. You mentioned antitrust. Do you think Big Tech Companies need to be broken up . i think whaturn we need to do is have a good discussion about what it will look like, what the marketplace will look like as we go forward in the next 10 years, 20 years. What we are suffering from at this point in time is that congress has not taken an action to put any guardrails in place. Like touch regulation is going to be best. Lets do this a step at a time. Lets look at privacy, where we change what they have access to, and then see how that changes their business model. Lets exercise some preemption on Data Security and breach notification put in place , penalties and enforcement, have that one regulator, federal trade commission, which is in charge of regulating privacy in this country. Lets see where we get as we take these steps. I think doing these one at a time so that we are working in conjunction to be certain that we keep the marketplace robust, that we encourage innovation, that we do not stifle innovation is important to do, and i think it is responsible of us as legislators to do that. Taylor that was senator Marsha Blackburn of tennessee. Now, before the u. S. And china reached a partial trade deal earlier this month, alibaba cofounder jack ma had said trade tensions between the two countries could last 20 years if they are not careful. He sat down for an exclusive interview with bloomberg in the western african country of togo in november. Take a listen. Interview with bloomberg in thd carefully, the trade war might be, i say usa and china relationship might be in some turbulence in 20 years. Next 20 years it could last. We have to be very, very careful. I think it is so important for china and the usa, two great countries, to work together, supporting the economy, give people prosperity, share a lot of technology together, and for so many years, china and the u. S. Have been working together. Theres a problem thats very natural. If theres no problem, thats not natural, right . So we have to solve the problems. We should not create more problems. You have said that you love africa. You have acted a bit as a bridge between china and africa. What do you see as the main thing that china can gain from africa, and vice versa, the main thing that africa can gain from china . Jack well, i love africa since three years ago, my first trip. I read a lot of things about africa i thought i knew, but i came here and said this is not true. Im inspired by the people, young people. Culture. Ired by the i decide that i come every year at least to three or four countries, and i try to visit every country in 10 years. I would not say that how china can help africa or how africa can benefit from china, but i come as a global citizen, as an entrepreneur who has been working in the world for 20 years. I think a lot of our experience, our ideas, our knowhow could enable and help african young people. And meanwhile, these years, i start to think, how can china help in a more efficient way . China putting a lot of efforts in africa. When i was very young, i heard a lot of doctors in my hometown, they have to go to africa for years to help, but i think china and africa, there are a lot of things similarity. Africa can learn a lot from china on how china developed in the last 20 years in such a quick way, how we lift poverty out of that. Taylor that was alibaba cofounder jack ma. Still ahead, first, the operator became a robot. Now, the internet has bots replacing Customer Service reps. We look at who is creating that those automated answers. Thats next. This is bloomberg. Taylor federal regulators today unveiled a sweeping proposal that mandates the tracking of most drones. The federal Aviation Administration says the measure would promote Public Safety and help event terrorism. The rules call for tracking Terror Networks so lawmakers can Law Enforcement can stop the devices flying anywhere. Fashion designers, interior designers, graphic designers well, now, there is a chatbot designer. Bloomberg looks at one company that is creating these automated tools that are in almost every corner of the internet. [telephone rings] [indiscernible chatter] around the world, businesses feel the hundreds of billions of fieldts businesses hundreds of billions of requests from us each year. We want our flights changed, a purchase refunded, our claim reviewed. That takes millions of agents to tend to our every need, but soon, automation will take over much of that, and it starts with the painstaking work of this 23yearold. My name is laura morales, and i am a chatbot designer. You probably know the Dominican Republic for its beaches, but further west in the countrys capital of santo domingo, there is a bustling hub of call centers for american businesses. Laura works for one of them. s inquiriescompany are handled by Traditional Call Center agents over the phone. Others are handled by contact Center Agents over life, written chat. Last year, the company introduced a third kind of agent a bot. Laura oversees bots for three u. S. Based clients. Greet customers looking for assistance online. The bots resolve simple queries on their own and more complicated questions get escalated to a human representative. Me, as an agent, i used to take just one call at a time. With bots, you dont have that limitation. Alexa, will i need an umbrella tomorrow . It might rain tomorrow. Theres a 54 chance. Bots today are everywhere, so the people who design their speech are in high demand. The job is kind of like writing a very dry screenplay with a choose your own adventure element for the many ways customers will respond. Be hard part is when the ot goes live. Often, its prescripted its prescripted conversations do not work out the way laura and their team hoped they would, so they are constantly tinkering. I need to check how the bots did the previous day. I go into analytics, and my favorite one is this. It is the unmatched phrases. These are the moments when the bot did not know what the customer wanted, and i can see how many customers clicked on the first or second button on the main menu. If my visitors are not interacting with my menus, that means maybe something is not right. Thats interesting because you used to be coaching a human agent and now you are coaching a robot. Is that easier or harder . Easier. You dont have to worry about hurting a bots feelings. You are not emotional about it. You are just doing what you need to do forgetting the result to do for getting the results you want. Laura started out as an entrylevel agent when she was 17 and worked her way up. Today, she makes about eight dollars an hour, which is four times what she earned when she first became an agent. The transition to work on chatbots took about three months to learn various aspects of the job, including training and test training on special software that does not require her to code. Laura immediately saw the benefits. A bot is never late. A bot does not get sick or pregnant. Those are specific human situations that you cannot fight. Automation is able to take that out. Taylor that is part of a next jobs episode and Mini Documentary series. You can watch the rest on bloomberg. Com. That does it for this edition of Bloomberg Technology, and Bloomberg Technology is livestreaming on twitter. Check us out at technology and be sure to follow our breaking news network quicktake on twitter. This is bloomberg. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. The following is a paid program. The opinions and views expressed do not reflect those of bloomberg l. P. , its affiliates or its employees. Is a paidlowing presentation brought to you by rare collectibles tv. The California Gold rush is considered to be one of the most impactful events during the american economys first 100 years. It has had a long lasting impression in numismatic history. The people of california needed a way to standardize the value of the new gold so they set up offices