The outbreak is far from over. Of june 15et a date for select employees to start returning to the office. Tesla also hitting new highs. , from wedbushcuss securities. What is driving this . Is this the right mark . Think fundamentally it continues to be china. If you look at some of the numbers coming out, make going into june and the second half of the year, we could see 100,000 deliveries. Side, given the profitability of the pentup demand, i could see tesla going higher, especially going into battery day later this month. Emily their reports about tesla workers testing positive for the coronavirus and fremont. That is of a risk is knowing that elon musk pushed for the plant to reopen . After the fremont standoff, especially around workers and health issues, that will be something people have to navigate. You are starting to see pentup demand. Especially in parts of asia. The big key here is what we are starting to see globally. Especially going into some of these new product launches. Lets talk about those. Obviously working on a truck. There is a company we have been following. How do you feel about the competition . There is a massive opportunity. Going after the stock market. Look at here in the u. S. We are talking about penetration. Right now tesla continues to be in a position to really own that market. Total market. That adds another 15 to the overall market opportunity. Thats why there is such a focus on this side look at preorders that will start to approach that number. Lets talk about apple preparing to officially announce putting its own chips and mac computers, launching the smack tradein program. There is a lot of demand for devices and computers right now. How does this affect your outlook . About this. Lk it is really one for the history books. On the chip side, more and more ownership of their devices. This is what i believe will be the next leg of this growth. Emily there are a lot of people around the world hurting. Unemployment is high. The demandis impact . Or thousand dollar plus phones that is very important. I believe now, when you start to look at these phones, which are gaining a lot of strength in china, that will be key right now. Some of the demand cuts will happen given the solid backdrop. It comes down to pure numbers. Million of the 950 million iphones worldwide have not upgraded their phones in 3. 5 years. Demand. A pentup that will be the next key for apple to monetize. Emily how high can apple get . I remember reporting when they were reaching 1 trillion. You are looking ahead to a 2 trillion market cap. And yet we are facing all of this uncertainty. Then you look at the next piece. There will be further monetization of that. A year or earlier into the 2 trillion market cap, apple stock continues to get rerouted. Investors are scratching their heads. Emily we will have you back to see if that comes true. What is your take . This is the tip of the iceberg. There has been a lot of pain. That is why you are seeing in vectors react to this. Emily always get to have you here on the show. Thank you so much for stopping by. Up, as humans have been sheltering in place, so have their pets. Withll speak to a company pet owners flocking to their site to flock shop to their furry friends. This is bloomberg. Peoplewith so many working from home, their pets are sheltering in ways as well. A surge in demand from pet parents. First Quarter Sales growing 44 . Joining us now is the ceo. Thank you so much for joining us. Obviously, im sure pets are going stir crazy. Just like the rest of us. What has the pandemic meant for demand and traffic on your site what are people buying good to be here. Nice to talk to. The pandemic is proving that pets in the category should be essential. Parents are flocking to the website to make sure they have essentials. We are also seeing the rapid rise in adoption and fostering. People have time and they crave companionship. There are more pets in the household. And more time to spend with those thats. We are proud to be serving so many owners. Emily you have launched a new campaign, pets bring us together, which is a good to roll some cute video. Which of these trends stay and which does not . What does the new normal look like . We roll that video together because we realize pet is an emotive category. We figured this was the time when everyone could use a little bit of positivity. We leaned then from that point of view. We are bullish on this. Now others in the space are siding those facts. It is an exciting time to be in this category. After you reported your results, the stock fit in the day dropping. . Hat you think is driving that i have never been one to speculate too much on stock price. This quarter was our First Quarter. We have been growing fast. They appreciate the way we are operating here. In a very large market. The market is growing up to 7 . We are out there creating this. A onestop pet shop. You do have a lot of competitors, amazon being one of them. Threat from amazon change as a result of the pandemic. We have a lot of people shopping for things they need and they might want to throw their pet food in the art while they are on amazon. Our mission is to be the most convenient destination for pet parents. In this category, which is highly emotive, customers can come to our website, we are a onestop shop. That effort and focus drives customers to our website. We engage you for long time. That has always been our playbook. We believe the mousetrap that we have in the way to engage with customers provides a powerful mechanism to deliver profitability. Emily i wanted to ask you about that new health care vertical. You launched it a couple of years ago. How is pet care being impacted by some of the trends we are seeing . Ecommerce, this option is accelerating. The pandemic will accelerate the trend such as telehealth or the utilization of technology and innovation in serving customers in a better manner. This could be that. We have the opportunity to connect pet parents and veterinarians and really provide a seamless interaction. Our so our sources suggest they do not take their pets to the vet at a regular time. This is another way of increasing that connection. We believe our company can step into the middle of it. And really understand the customer pinpoint. We are watching these trends closely. Emily what is your view on the supply chain, giving the disruptions we are seeing around the world . What does that mean for your products . Theave maintained that organization with the supply chain has the best shot at longevity. Our networks are fully synced. The ceo of chewy, thank you so much for joining us. Good to have you here. Grubhub getting a lot of attention at home and abroad as consolidation in the food Delivery Business continues to happen. This is bloomberg. Emily welcome back. Now has multiple interests and potential takeovers, not just from uber but from overseas. There is a bid to launch itself in the u. S. To become a major rival to uber. I want to bring in their director. That ubering reports is now no longer interested in grubhub. Followcontinuing to developments there. Huber had been in talks to take over grubhub. Interests from just eat, what is your take . A is as follows. From grubhubs vantage point, they would be better suited on uniting with uber. Them uber we give them some leverage on the lobbyists front that they would not get from just eat. It would be more beneficial. Talk to us about the broader restaurant landscape. You have some estimates that 25 of restaurant will never reopen as result of the pandemic. How does this play into these issues . That is an excellent observation. The Restaurant Industry right now is hurting terribly. Companiesy wellrun are going to have a challenge longterm in exploiting the Restaurant Industry. Because of these challenges. Maybe 25 of restaurants will close. These are very tough times for restaurants. Huber is continuing to expand its tentacles into delivery. They have Just Launched something called uber connect. It is a care package or a gift. They started with food. What you are seeing is that covid19 is basically creating a rollout ofaster these services. You are seeing that in the expansion of Online Grocery delivery. It is creating a more dynamic market. Covid19 has accelerated options. In many ways. To us about the global picture. You see a chance or other International FoodDelivery Services to into the u. S. . It is a great question. A lot of investors expect consolidation in the u. S. Market. The companies that are running that would have much better economic. Seen is a lot of large players in the u. S. Including grubhub and uber eats and doordash. This consolidation that many have expected is taking much longer. We will see more of a commission. Ap than necessary we know this is a cash burning business. You expect to see the dominoes start to fall . Who is the weakest player or the more ripe for a takeover . The argument can be made from a capitalization standpoint. Uber would be the strongest. Then you would have some distance to doordash. And postmates. Uber would be the strongest, most wellcapitalized. Emily a lot of movement in this phase. We will continue to follow it all. Thank you for stopping by. Coming up, where are we now in the quest for coronavirus drugs and vaccines . Some very exciting developments to tell you about. This is bloomberg. Emily welcome back to bloomberg technology. We have breaking news out of amazon. It is implementing a oneyear moratorium on the use of its facial with Ignition Technology by police. This technology has been very controversial over the last couple of years. Moratoriumsaid this will allow congress to develop the appropriate role. Amazon is ready to help. This in light of nationwide protests of police, Racial Injustice across the country. We know ibm announced yesterday it is getting out of facial recognition technology, given that the wide range of issues that surfaces. We will continue to follow this story, but a Significant Development amazon is putting this moratorium on police using their facial recognition technology. I want to talk about vaccine development. It has been half a year since the world first came to know covid19. It feels much longer than that. The u. S. Government is reportedly planning to fund and undertake phase three trials of three experimental vaccines this summer. This would mark the final stage of testing. Does that mean a vaccine will be available by the end of the year . To the mainstream public . Joining us is show cortez who covers health care. There is so much news happening about this everyday. Where are we right now . Are very fewre things when it comes to this virus we can say for sure. The question you posed is an easy answer. Will we have a widespread vaccine for the masses for the end of this year . There is no possible way we can get it to that point. The hope is we will start seeing positive news out of the pivotal trials that are starting this summer and perhaps some of the earlier trials so that by the end of the year, might be able to start protecting some of our most vulnerable adults. Emily dr. Fauci has sounded quite optimistic we would have multimillions of doses and that it might come sooner than we expect. How do we square those comments with the reality . Michelle right, well that is true. The federal government is working with the industry to basically smooth out it is like an olympic Curling Group that is happening. Just smoothing i for these different vaccines in development. There are about 120 different vaccines any development. Anywhere from 120 to over 200. If we can get there, we will. The issue is manufacturing. There just is not capacity. We already make a lot of vaccines for the world to treat everything from whooping cough, polio. There is not a lot of excess room to start cranking out billions of doses, which is what we are going to need. Even if everything goes smoothly, by the end of this year, we will know whether we are going to have a vaccine. To actually make it widely available to the people who want to, that is the thing people are not getting. We will know if it is going to work. We will does not be able to overlook our sleeves. Emily and on for a second. We have some breaking news from our earlier conversation. Just eats takeaway will buy grubhub in an all stock deal. The offer employing 75,000 . 15 a share. In assume this i assume this means uber may be out of contention. There had been reports uber is no longer interesting. We know uber was talking to grubhub for a long time. The European Food delivery just eats takeaway to buy grubhub in an all stock deal. We will continue to monitor these headlines. Michelle, obviously food delivery has been a lifeline for a lot of people as we have been continuing to shelter in place. There are still a lot of concerns about the virus and unknowns about how it is contracted. Just today, we had the World Health Organization trying to walk back comments about asymptomatic transmission. How do the continued unknowns about how the disease is transmitted impact the Vaccination Development process . Michelle that is a great question. The thing is is that if you do not know who is the most likely to pass the disease alone, and maybe you do not know which groups are in need of being vaccinated. We are seeing the early stages where the most highrisk people to be the ones in line to get vaccinated. Those are not the people you might think. Health care providers will not be the very first people because when you develop a vaccine that quickly, there are potential risks that come along with it. Because Healthy People are the ones who get vaccinated, you not want to do anything to somebody who is already healthy that might make them more harmed in the long run. That is possible with newly developed vaccines. Will be the people who are most vulnerable to covid19. People in Nursing Homes who have other conditions who are uniquely vulnerable to dying as opposed to Health Care Providers who are generally generally who generally healthier people. Who would maybe be able to survive the infection if they got it. It is that kind of uncertainty. We do not know who is passing it along. That talks about the case of our knowledge about this virus and how it is spreading throughout the world everyday. Is, when . Question . When can people, perhaps elderly people. Hi mom is probably watching right now. She does not have any underlying condition but wants to hold her grandchildren. A member of the general public who is now the front lines but needs to protect themselves. Absolutely. The thing for everyone to think about is this is going to be an individual risk benefit analysis. At what point do you want to get in line for this vaccine and when will it be available . I would say for someone like your mom who might be in a higher risk group, they might be closer to the beginning of getting access to a vaccine like this. For those people, certainly at this Time Next Year and maybe earlier in the First Quarter of 2021, we might see a vaccine rolling out. The intent is going to be to make sure we are closing down the transmission of the virus across the world. If we are seeing hotspots in certain areas, those are the places that might be getting the stop theines so we can transmission. The places he might think are going to get it might not get it as quickly. I would say for healthy, older people, we are thinking within the next year for sure. Emily ok. Thanks so much. I will relay all that to my mother. I am sure she will appreciate your analysis. Thank you so much for joining us. I do want to get back to this Just Eat Takeaway news. Just eat takeaway will buy grubhub in at all stock deal. Now that the ceo of grubhub will join the Just Eat Takeaway board, grubhub is expecting the deal to be completed in the First Quarter of next year. Mention thed possibility of some regulatory concerns. We will have to see if the government raises any issues here. Investors seem to be excited. Grubhub rising 7 after hours on the back of this deal thing announced. At this point, it seems like uber is out of the running. We know uber was in talks for months with grubhub about a 5 billion plus a deal that apparently is not happening. I suppose grubhub could potentially field some competing offers. We will continue to follow the story. Grubhub shares up 7 after hours. Just eat takeaway to buy the company in an all stock deal. Coming up, we are going to be talking about social Media Companies continuing to grapple with how to moderate content on their platforms and moderate conversations among their users. Nationwide protests across the country and the black lives Matter Movement splintering facebook groups. We will discuss next. This is bloomberg. Emily facebook is Encouraging Group administrators to consider adding people of color as moderators. Groups, which are essential to facebooks Business Strategy have struggled to facilitate conversations about race and the black lives Matter Movement as protests consider across protests continue across the state. Joining us is robertson professor of media studies at the university of virginia. He is also the author of antisocial media, how facebook disconnects us and undermines democracy. A small hint about your take on this. How do you think facebook in particular is handling the latest situation . Obviously, we have seen potentially positive discourse as these groups have allowed people to discuss these things. But groups exploding as well over differences in views. Which ae at a moment in Political Organization from all are moreew or enabled and empowered than ever. Facebook is perhaps the best we have had to find likeminded people and motivate them to take some sort of action. Peoplesee that when organize protest in the street right now. They are more often than not using facebook to find people to join them in rolling out their plans on facebook. It is extremely easy. Facebook worked the same way with the womens march in early 2017. It has worked for groups left and right over the years. Facebook is an amazing tool for motivation. Democracies need more than motivation. Democracies need deliberation as well. Facebook undermines deliberation. It segments us. It also riles us up. The sorts of material that get amplified on facebook tend to favor strong emotions. Emotions can the anger or they can be joint. Can be baby pictures and puppy pictures. It can also be hate speech or cause the genocide. It is really the extreme content that gets amplified on facebook. This is a really intense moment for all of us. It also is an intense moment for facebook. Facebook is dealing with the prospect of the 2000 of the unitedection in the states. Facebook is facing a barrage of that information being put out there by covid19. Facebook groups devoted to vaccine denial. Facebook groups devoted to all sorts of myths and lies about covid. In addition, the president of the United States has been distributed information that is false and harmful about covid19. Facebook and twitter and youtube have been on their guard all year knowing that these two big phenomena are going to challenge everything they do and everything they believe about themselves. And now along come these protests against Police Brutality and it brings it up to another level. Takingyou see twitter sort of an opposite stance. Obviously they took action on the president s tweet suggesting looters be shot. The new rules they are introducing that you must open articles before you can retweet them because often times, they are seeing folks retreating articles they have not read. That causes discourse and sometimes controversial discourse. That with facebook. What can facebook be doing better or as some folks have said, has the monster already been created . Is the genie already out of the bottle . In a lot of ways, facebook is too big to fix. Facebook has 2. 5 billion users around the world constantly posting in more than 100 languages. That is the system that is too big to govern. Does not matter how good Artificial Intelligence is. Does not matter how many humans you hire to filter through hate speech and the threats to rape and to kill. You cannot catch all the live moments. It is not that facebook is a lost cause. Every effort facebook makes is cosmetic. It does not get to the heart of the problem. Twitter has been interesting. Twitter is a lot smaller. Instead of 2. 5 billion users, facebook has threaded 30 million users. They are concentrated in north america and western europe. Twitter has been willing to experiment. The folks who run twitter are a lot less bullheaded. A lot less ideologically committed. They are experimenting with a lot of different ways of handling the current mix of crises. Put a fact check the link underneath one of trumps tweets. That incited him and sent him off on a to z. It was useless and harmless. Who is going to click on that thing . It was an experiment. See how many people click on that to find the truth about mailin voting and the prospects for fraud because we do have a record on that. The next tweet that twitter interfered with or intervened about was a fairly dangerous call for state violence by the president. He was explicitly violating the rules twitter expects us all to follow. You and i cannot call for violence against anybody or our accounts be canceled. There are different rules for World Leaders and trump. They covered one of the tweets that called for state violence. Then insisted if you want to see the tweet, you need to click through. To do that, you need to read that this tweet violates twitters policies. Once you got through, twitter forbade anyone from commenting on it or liking. To retweet it, the next person would still see that cover. It is a clever way of handling one particular tweet. Is not really been reputed been repeated. Twitter is experimenting with a variety of ways to handle not just trumps problems but all sorts of cnet against going on sorts of shenanigans going on twitter. Twitter will be a platform from all sorts of information and disinformation. Talking about that, we can assume President Trump is going to test the waters and figure out where these companies are going to try to draw the line potentially over and over again as we lead into the election shared how did these companies vantage that and does that create even more flashpoints and distraction from the actual issue . The Health Crisis we are in, and economic crisis, the social crisis. What you are describing is a whirlpool of expression. It is a cacophony. We are living in a cacophony already. Our funds are buzzing and beeping. We have four different communication applications open on our desktop. It is madness trying to make sense of the world. On top of that, we have world brazil like bolsonaro in and modi in india and donald trump in the United States to take advantage of this environment by flooding our information ecosystem with more stimuli, more distractions, more extremism knowing that the harder it is for us to hold a coherent thought, harder it is to mount a coherent argument for or against any policy, for or against any movement. That ultimately undermines mocker see in a serious way. Undermines democracy in a serious way. To think about serious issues. We are basically chasing the latest tweet, chasing the latest wacky thing that comes out of the white house. That does not do anybody any good. There are some serious things going on. It is also it is almost impossible to get through a day. Facebook is the most pervasive media system the world has ever seen. No one has ever lived at a time when you could communicate with this many people this easily. It is contributing directly to the cacophony. It is designed to amplify strong emotions. It is contributing to and amplifying the cacophony. Choir preaching to the here on bloomberg technology. We are having to follow that case on a daily basis. Thank you so much for joining us. From the university of virginia. Good to have you on the show. Date. Up, apple setting a june 15 for select employees to start coming back to headquarters. Mark gurman will be with us next. Emily apple has told its staff that the first phase of its return to work Program Starts on monday when a select group of employees can start coming back to cupertino headquarters depending on their jobs. Safety issues will be different. Theyre going to be required to wear masks at all times. We are joined by mark gurman who is covering the story for us. What is the latest on apple return to work plan . Thank you for having me. What they are calling a phase i return, a limited amount of people or the first wave of people returning to their headquarters is happening june 15. It is important to know these are not the first people returning. There have been engineers and executives returning for weeks. There were people who were basically at the apple park campus the whole time during the quarantine at the height of covid19. This is the First Official wave. It is the first step of eventually returning everyone. Meantime, you have been breaking a few stories and they do look ahead to how apple welfare in this pandemic. About one, who broke news a trade in program they are working on. Some people might be more interested. There is a great need for devices. Tell us more about it. The tradein program is interesting. This is something launching in the United States on june 15. What this would let you do is if you have an older mac computer and you want to buy a new one, you can bring that into the store and they will give you a credit towards a new mac. You are already able to do this online, but this makes it simpler because perhaps there are people walking into the store thinking they can do it. They have already done this for the iphone and ipad and watch. This is new specifically to macs. Emily they are also offering new options to pay for things in installments. We are in the middle of an economic crisis. A lot of people have been laid off. People are hurting right now. They still need to be connected. How will these installment programs work . That is a big one. This has not launched yet. They should be in the coming weeks. A new future for the apple credit card where you by the Major Products such as the air pods or apple tv, you can buy that product and get six months no interest payments. That is through the apple card itself. If you get something that is more expensive like a mac or an ipad, you can do it over 12 months. You get 24 months. Oftentimes, macs can be thousands of dollars to on upgrades. They should be easier for people who need the computer and do not want to pay for it at once. Emily a lot to digest. Mark gurman, delivering as always. Thank you so much for calling in today. Think you all for watching this addition of bloomberg technology. Im emily chang. Bloomberg daybreak australia is next. This is bloomberg. Good evening from bloombergs world headquarters. We are counting down to ages major market open. Welcome to daybreak australia. Here are your top stories this hour. The fed sends an ultra dove us message that policy remains unchanged. Jay powell says rates will remain near zero through 2022. Global virus cases continue to rise as u. S. Infections alone nearing 2 million