Reappearing here. I am a new new jersey girl. There has been a new executive order signed by Governor Phil Murphy about wearing masks. At us check on the markets. On the back of some of those concerning headlines regarding deaths in florida and texas because of the covid crisis. The Dow Jones Industrial coming off by one playboy percent. And some risk aversion in europe. Tensions between the u. S. And china. The u. S. Dollar continues to show some strength. Keep an eye on that market and Pay Attention to the dollar and what happens with the hong kong dollar and the chinese yuan. A lot of risk sentiment is being reflected in those assets and it could be a key on how u. S. Markets trade on friday. Concerns about the supply side. Field in libyan production. Sinking below 40 a barrel. Let us get to that exclusive interview. Take it away, david westin. To our Bloomberg Radio and tv audience, worldwide, im david westin and we are joined by the governor of new jersey. Thank you for being back with us. The eyes of the nation and the world focused on new jersey because you were the epicenter to some extent with covid19. Took a lotit off and of tough actions to get the numbers down and now they are starting to come back. Why . Gov. Murphy good to be with you when you are right. The toll has been enormous. Over 13,000 confirmed deaths and probably a couple more deaths suspected of passing from covid19. That is the awful tragedy. Our numbers have gotten better and as they got better, we made the decision based on the facts and the science to begin stepbystep reopening our stay. We knew we were doing that and we were doing it responsibly. We knew we would take on more of increasing the potential for transmission. We were comfortable with that risk. Not expecting was the explosion in cases elsewhere in the country. And so, the rate of transmission has gotten a little bit uncomfortably high for us. Slightly. It improved we put in with new york and connecticut a travel advisory if folks to self quarantine they are coming back into our state from a hotspot. Byyour colleague noted and the way come i welcome her to new jersey as a resident, we are now requiring face coverings outdoors. Those steps were taken in the last 10 days. We have held off from Indoor Dining which brings me no joy but it is clear that this virus is more lethal inside than outside. We are watching this minute to minute and trying to make the decisions at every step based on the facts. Say, governor murphy, the numbers are better than they were at the worst of above that transmission is disturbing. If the problems come from outside of the state comic either People Living outside of the state or residents of new jersey coming back, do you have the power to control that . I know you can advise in the quarantine but how do you enforce that . A fairrphy you can do amount but it is the United States of america and constitutionally, we cannot stop people at the border. I never thought i would say this but i would love to build a wall around our state or region. Appeal tog amount of personal responsibility and residents of new jersey have been extraordinary throughout the pandemic. But doing the right thing whether it is staying at home and now asking to wear face coverings, work from home, a series of things we have asked from our fellow citizens that have done the right thing and we need that again. We are developing an app which is not ready for prime time yet but it will come online. A lot of signage at our borders and on our highways and at the airports. We are building up tremendous testing capacity. If you come in from a hotspot, self quarantine to get tested, for crying out loud. We are hoping to get out this a number of different ways. Instancesd a few already and we know the system works. We are building a Community Core of contact tracers. They were able to track down some folks that were at a wedding in myrtle beach. Some folks in hoboken returning from hotspots. So far, it has worked but it is not a perfect system and we have to appeal to personal responsibility. David appeal to personal responsibility to what extent are you prepared to back that up . Specific executive order, are you prepared to go beyond advising . Be preparing to fine people . Gov. Murphy we have to put teeth on this. Go toe the first date to mandatory face coverings indoors. Part of the reason we did not go outdoors until now was number one, the virus is a lot less lethal outside. And secondly, to your point, david, it is really hard to enforce. We dont want to put something on the books that we cannot put teeth behind. It is up to local Law Enforcement and we expect people to do the right thing. We reserve the right to warn them, summons them, and fine them potentially. David we have to get through the summer but we have the fall coming and the issue of school which is very much on the national agenda. As President Trump has really pushed to reopen schools. What extent are you planning on people being in the classroom as opposed to Remote Learning . Gov. Murphy our department of education and department of health could out standards a couple of weeks ago. Very comprehensive. Parametersining the and the basic principles and leaving it up to our districts to develop their plan and come common agreement. Our bias is to get kids back into the classroom. That is the starting point. We have to do it responsibly. I think the toughest nut to crack is going to be preventing the unwitting passing of the virus from an asymptomatic young, healthy kid to an older educator or administrator or someone with Underlying Health challenges. The whole notion of capacity constraints, social distancing, face coverings, lots of hyper hygiene, etc. And doing things outdoors whenever possible. They will all be elements of what we think it will look like. David there will be some things that no doubt will be state wide. Let me talk about testing. I you thinking about considering that every member of the staff be tested before they go back to school to teach and serve the students come fall . It, murphy if we can do yes. We have a daily capacity right now in new jersey that is somewhere between 25000 and 30,000 tests per day. Absolutely. The obvious point to make is even if we can achieve that, this is a virus that does not just it is not a one and done. We got that out of the way, check the box and we are good to go, this is an iterative reality we are living weapon that is the only caution i would say. Until we have therapeutics developed specifically for weid19, and certainly until have a vaccine, we have to keep coming back to testing, tracing, and doing the right things. David all of the things that decide, will cost describe, will cost money. Will that be up to the School District . Can the state help . Numberrphy we have the one Public Education system in america. The state puts more money per ourta, per child into School System i think than any other state in america. But there is no state that has enough money to do what we are going to do and not just in education but across the board. We desperately need, not just blue states, not just in the states that have big legacy challenges in terms of structural deficits, but states across the country are in ,esperate need for direct federal cash assistance. The federal government plays an existential role that no other actor can play and this is one of those instances where we need congress to pass a big bill with a big amount of direct cash assistance and for the president to sign it. Among many other things, that will help including helping Small Businesses to pick another example. That will give us the resources we need. David you said you are desperate. Give us a sense of that desperation. I understood that your budget is balanced through september 30. Gov. Murphy it is balanced because it is a constitutional requirement but in order to get our budget balanced literally for only three plus months, we had to cut or do for five point 2 billion in expenses. The nut for new jersey we have estimated between midthis year 20the end of 2021 is billion. That is the amount that is how overwhelming this crisis has been both in expenses that of exploded and revenues that a fallen off the table. David are you going to have to borrow money . And if so, what does your access look like to the bond market . New jersey does not always have the best credit. Gov. Murphy we will have to borrow money. This is not either or but and both. The first place we will go with the federal reserves special program that has been set up and that will be the first port of call. And we will go from there. But this is going to be both and. We are not alone. This is an american challenge right now and sadly, we are seeing this virus explode around the country. The other states are in our prayers. We wish nothing but a speedy resolution but it is a reminder that we are all in the same boat together. To borrowont want from peter to pay paul but is there any possibility of increased tax revenues . You have a lot of people including some working at bloomberg who are doing their work from new jersey and would otherwise be in manhattan. Gov. Murphy the answer i assume respects, in so many as new york goes, particularly new york city, the bulk of new jersey goes. I dont wish ill will across the hudson to our friends but there is no question there has been a big work from home trend. The Real Estate Market in the commuting stoppers has gotten very hot in the midst of this crisis. Alln, we are overwhelmingly in this together. And we have done an enormous amount with new york, in particular Governor Cuomo and mayor de blasio and our neighbors in connecticut, pennsylvania, and delaware. We are the densest region in america and we are all in this together. David we are speaking with Governor Phil Murphy of new jersey. You mentioned the Real Estate Market a moment ago. Give us a sense of the commercial and residential you said it is high. I you seeing prices go up . Gov. Murphy without question residential particularly in the communities that are easily new york. Le into i do believe there is going to be a revisiting of some of what we heretofore thought in the last couple of years of the stranded assets. Lowslungan mall, the sort of spaceship threestory Corporate Headquarters which our state was known for for so long. A period of time when folks looked at those assets and said listen, the world has moved to a different place. A different paradigm. I believe strongly not only will those assets be looked at again with perhaps a different set of eyes, but they are being looked at, to be determined. David finally, governor murphy. Let us turn to politics. Everything is affected by the pandemic. You just had a primary in new jersey. Reports are that a lot of mail in ballots were used and their were delays in the results. What does that tell us that elections will look like in the age of the pandemic . Gov. Murphy good question. Too early to tell on november. We moved our primate from june 2 two this week, july 7 and we went to a hybrid model. If you were registered as a republican or democrat, you were mailed a ballot. A selfaddressed stamped envelope. If you were not registered, you got an application for a ballot. Countieseach of our 21 to add 50 capacity for in person voting on election day and every news apology to have at least and every new disability to have at least one location. We are trying to balance the in democracy to vote and have every vote counted but at this thing time, the realities of Public Health today. It is too early to tell what november will look like but we leave the primary work out quite well. You have to take special precautions on the voter fraud claims . Generally, people think there is not much of it but will you have to invest more to protect the system in november . Gov. Murphy we did in this primary. We hadr plainclothes, National Guard members of been down this date. I am fearful, and by the way we take each of these claims seriously and run them to ground. We have had an enormous amount of backandforth with the u. S. Postal service. I am fearful that the fraud point is a political talking point more than it is a reality. We take every one of these instances deadly seriously. I always like to ask how you are holding up . Are you holding up ok . Gov. Murphy you are great to always ask. I had fairly significant surgery as luck would have it the day of our first positive case. On march 4, i had a nice plan to ease my way back in. The plan was thrown out but knocking on wood, so far so good and thank you for asking. David our hearts are with you because u. S. Had a hard job and you have shown up every single day. Thank you so very much. That is Governor Phil Murphy of the state of new jersey giving us a state of things where are in new jersey. It is starting to come back up again mainly because of people coming from out of town. I am david westin and this is bloomberg. Taylor this is Bloomberg Taylor riggs in for emily chang. Lots of big stories. The first one is it is all about tesla. Elon musk coming out yesterday saying tesla is on the verge of developing technology to render a vehicle fully capable of driving itself. It is a claim he has made for years. He has been unable to achieve that up to this point. Here to discuss this is an analyst from jmp securities. It is always great to have you on the program. Realistic do you think it is for tesla to be there in the coming year . Joe it is interesting and thank you for having me on. If you look at what elon musk said today. He said he should have the basic functionality available by the end of the year. That is fine and i think it is possible but it is a long way from there to actually deploying full economy on public roads and i think there they are still several years away from that. Taylor diving down into some of those comments. Presents said autonomy fundamental challenges. Through your research on this, are there no fundamental challenges . Are the challenges around technology . Regulation . Implementation on the highways . Joe it is interesting. Sometimes, one might think there is a bright line between level five and the other levels. It is an increasing level of functionality. It is certainly true that tesla has a couple of things they have a very powerful onboard computer platform in the new teslas that ought to be able to handle quite a bit. They have gotten very good at ingesting mapping data and camera data. They have all of the pieces and for that, i think it is reasonable to say they will get there. In challenge is the one case 100 or 200 or 500 when things go wrong and you cannot have that happen in a car driving itself. I dont think it is about the basic technology as much as it is about the robustness of it and getting to the point where it can be safely deployed on public roads. Taylor joe, is there any competitors at this point who are getting their faster than tesla when it comes to autonomous driving . Joe that is really interesting because you had some very highly funded efforts. U. S. Had crews automation done by general motors. You have had waymo owned by google. Startupher independent which has been purchased by amazon. There has been some have been some very highly funded efforts but no one has made as much headway as tesla on public roads and i think it is because tesla has been so effective of using its network of vehicles and integrating that with camera and data connection to drive forward. It is kind of remarkable given the amount of money that others have spent that they do not have nearly as much to show for it as teslas does tesla does or at least yet. Taylor it is a massive rally we have had and the share price. One of the best things i love about getting you on the program and we spoke nine months ago or so, and i think you were a little more bearish on the stock and you were the first to admit that when the facts changed, you changed. What was the Pivotal Moment as you raise it now to a 1500 price target . What caused you to look at tesla in a different light . Most important thing for any analyst is to always look at what is happening out there. Always be willing to admit to yourself that you might be wrong and always try to look at the data in an unbiased way. As you point out, i was on the wrong side of things. What really got me thinking was the combination of two things. With theound and still possible exception of volkswagen, i dont see anyone else out there that can compete with tesla. And the second thing i see and we have seen this in other stocks come look at what Solar Developers are doing. Transportation and Power Production and so forth really do have to deal carbon decarbonize. Of decades. Couple could tesla be a multibilliondollar company . Could tesla ship 3 Million Units . Will the stock become a good investment . If i believe that which i do, i can argue that the stock is 50 could be 1500. Taylor what is your outlook for the 2020 profit for this company . Them to break even or come roughly close to break even this year and then i expect inm to be solidly back profitability for the remainder of the year. It is quite hard to judge, to be honest. And i will point out that i am ing what i look at typically look at 2021 because this has been such a disruptive year. I expect the company to come out of the year solidly profitable and be probably close to breakeven this quarter, give or take. Taylor some of that optimism i think begin reflected was the optimism that we saw in the Second Quarter deliveries coming ahead of expected despite , andrns of consumer demand the factory shutdowns in shanghai and in the u. S. Are you surprised at the rate of their deliveries . Oe i was and the street was surprised as well. It is just one quarter. It is the sort of thing that should make people think about longerterm investments. If you look at the fact that they were able to deliver 90,000 units during arguably the most challenging quarter of imaginable, i think it does tell you something about the companys ability to be successful in a less challenging environment. Taylor thank you as always for telling us something and our viewers something insightful. Joe osha thank you for joining us. Coming up, a family says their content was removed from youtube and kicked back without explanation. We have the details next. This is bloomberg. After having his Family Channel kicked off of the youtube kids without any explanation, a video blogger is questioning the platforms treatment of black creators. I wante on this story, to bring in lucas shaw. This was one incident, but it might give us pretty big insight into what was going on with youtube kids. L us what you learned from this story. Lucas its funny because exactly what happened is not entirely clear, and that sort of says everything you need to know about the opacity surrounding web videos are and are not ok forget, and how the algorithm works. Youtube has its main app and its kids app. Family is not complaining that they are not on the regular youtube, they are upset that their videos disappeared from youtube kids. Their videos disappeared around the time youtube was taking down a whole bunch of channels, because there had been a series of scandals about inappropriate programming within the kids app, and they were trying to make sure it was totally safe. In the process, they took down some channels that may be did not need to be taken down, out of maybe did not need to be taken down, out of excessive precaution. Black families are wondering, why does it feel like you are singling us out . When we look at youtube kids, we do not see sufficient representation. Taylor and that is the key, they are being singled out. What does youtube say to that criticism . Is notyoutube says it discriminating in any intentional way. Many mediaso companies trying to walk a very fine line right now, while making clear that they feel they have not taken any intentionally racist or discriminatory steps, while acknowledging that they do have a lot of work to do when it comes to representation. Youtube feels like this might feel a little bit unfair because youtube has been better for elevating certain voices that the Mainstream Media was not. Yet, if you look at it but of the biggest stars on youtube and youtube kids, it tends to be very white and very male, much like the rest of media. Bring up a big point, that there is a difference between youtube and the changes going on within youtube kids. What is youtube kids undergoing, the changes they have made, some of the controversies they have been involved in that have . Otten us to this point lucas there have been complaints that youtube kids did not have suitable programming for children, but perhaps the Biggest Issue is that youtube has historically not done a good enough job channeling people under the age of 13 from regular youtube to youtube kids. Youtube is the most Popular Video service in the world for all people, and that includes children. I think there are a lot of families that youtube is a de facto babysitter, but youtube is supposed to be for children over the age of 13. Over the past few years, youtube has taken a lot of steps to drive more children to youtube kids, with marketing, funding original programming, while also trying to make sure it is a safe environment, because people have uncovered all sorts of inappropriate videos within youtube kids, some involving suicide, conspiracies. After those scandals, youtube has gone through a series of changes. There was also the matter last year but the federal trade privacy andith collecting data. This has been a constant headache for youtube and when they continue to work on. Taylor you bring us a unique perspective because you are based in l. A. , so you have been covering, in this moment of social change, but we are talking about increasing diversity and real change that comes along with more equality, black creators, black entertainers. What are you hearing in l. A. From some of the more Diverse Voices . Is this a talk to talk moment or something bigger, as we can really start to actually walk the walk here . Lucas i think people are cautiously optimistic. There have been a lot of moments in the entertainment business where companies have said, this is going to be the time that we improve diversity and representation on screen. Those efforts have produced marginal gains. You certainly have more female directors and directors of color, more tv shows and movies about people of color and women in roles than you did before, but nothing close to mirroring traditional society, and that is especially a problem in the executive suites. Most people i speak with think there is a real momentum hind change right now, but the issue is that most of the key decisionmakers are still white men who are maybe not inclined to rock the boat as much as people who work for them would like to. It is interesting to see what happens over the next couple of weeks, months, and years in movement can have the effect that people would like to see in film and television, which informs how we view race and our fellow citizens. Taylor lucas shaw, thank you for breaking it down for us. Shareholders of the german industrial manufacturer chain siemens approved today a spinoff of its energy business, despite recent tumultuous months for both the oil and gas industry. Millerwards and matt spoke to the ceo ahead of the companys voting. The reason why we did the spinoff is we believe that focusing our company is very relevant in unprecedented times. Two years ago, we brought them to the market at 43 billion market cap. Massive value. We are spending our Siemens Ag Company into the Industrial Automation company, including infrastructure and Siemens Energy. Talking about Siemens Energy to the market, this is also about siemens ag on Industrial Automation, software infrastructure, and modern mobility. This is a twopronged approach. Siemens energy is a 30 billion euro company, 90,000 people. That is a restructuring story. There is a lot of overcapacity in the energy market, and oil and gas, which is a minor topic in our equation. Anna is there no very Weak Oil Price that will stop you from doing this at the end of september . The oil price is not relevant to the equity story. The elements of the equity story here, first of all, it is a restructuring case. The real equity story is about transferring the Siemens Energy from Traditional Energy generation into renewable energy. We have a 6 to 7 stake on the siemens one of the two Largest Renewable Energy companies in the world. That is the future. And we are using the connectivity, which becomes more and more relevant in a multigeneration environment, as the transition has sparked. Very confident about this move. We do not need Capital Market sentiment for that, because it is a spinoff. We are spinning off 55 . We did consolidate Siemens Energy from siemens ag. I think the biggest potential on that move, which we are hopefully going to approve today, will be a potential regrading of the new siemens ag erating of the new siemens ag. Taylor coming up, uber steady to past profitability, extending further into for delivery with an acquisition of postmates, but will the deal deliver . , anhead with steve jang early investor in both uber and postmates. Taylor uber is trying to achieve the longawaited profitability. They are announcing plans to acquire postmates for 2. 65 billion. Some are welcoming the consolidation, while others expect an uberpostmates merger could draw antitrust scrutiny. Ning us is steve jong, steve jang, an early investor in both uber and postmates. Great to get your perspective on this. This market was desperate for consolidation. Is this the right deal, even though postmates maybe was not a big competitor . I guess you just want to take out a competitor and consolidate in any way you can . Steve thanks for having me back on the show. I think the important thing to note is that these two companies have competed against each other for the better part of the decade. Out as a started career api and was not food focused. Uber eats came into the market well after uber ridesharing did. There were early acquisition talks about merging the two companies about four years ago. I think at that time, uber eats was seeing hyper growth as a new business subsidiary within the uber platform. It just did not come together at the time. What postmates has done well over the years is build a strong brand with their customers and market. Even though it is number three in the marketplace in terms of Delivery Service companies, they offer a key advantage in certain markets, like los angeles, and offer a market share data to get for uber eats from number two close to number one. An important thing to note is that postmates has done a lot on the api side, originally as a courier company. The api services used as a Lot Companies across the nation as the last mile of fulfillment for their consumer goods and food. In the time of covid, postmates has done a great job providing what is true to their service, and with a merger with uber, postmates will stay independent, but they will share resources and join the uber marketplace platform, which should provide commingling all the Service Drivers as well as the technology back end to improve a lot of the Data Analytics taylor yeah. What does this mean for the industry and the consumers . Do prices go up . Grubhub, thek was ato note is that it food delivery company, but it did not provide the actual delivery, the logistics. Postmates is actually number three in the market in terms of offering both a menu and a network of restaurants and order functionality. But also, a network of delivery couriers. What is important to note is that it creates consolidation in a market which is highly competitive. People are fighting for drivers, fighting for the attention and exclusivity with restaurants. With consolidation, i think a lot the marketing expenses and should besition improved across the system, not just with uber and postmates as a combined entity, but also with all the competitors. I think it is an overall great thing for the food Delivery Service industry. Taylor steve, you are a big investor. What opportunities are you seeing that have been disrupted, and some Fresh Opportunities that are coming about two the pandemic . Due to the pandemic . Steve covid has created compression across society and the economy, and within that, we have seen a lot of concerning things, but a lot of interesting notions and in sites and i nsights. If i were to pick three areas where we have seen a lot of new insight, he would be health and wellness, ecommerce and marketplace services, and also in infrastructure software, the future of how we are going to work as an economy, whether in offices or factories. On the first point, the idea of health and wellness used to be going to the hospital and going to wait for a doctor and getting an appointment and getting your prescription. Care,days, at home through virtual care, telemedicine, has inverted the entire system. We were on a conference with the ceo of a Major Health System in the United States, and they said that 5 of their visits with patients were telemedicine precovid. 95 ,g covid, it has been so it is completely inverted because of the pressure it has created on these health systems. We have a company in our portfolio called heartbeat health, providing cardiology as a virtual care service, connecting cardiologists around the country with their patients directly. They have seen tremendous growth, recently announcing a partnership with the American College of cardiology. In the software space, we have seen a ton of pressure both on infrastructure as well as Communication Collaboration software. You have seen that with zoom, slack, microsoft teams. And we continue to see a lot of startups in our space seeing for various demand Software Applications that will allow their teams to be distributed. The future of how we work is going to change. Pushing for a distributive workforce, forcing us to put everything in the cloud, and you are seeing that with the rise of companies aws seeing maximum demand. We have also been hearing that gcp, aws, and azure are running out of capacity and scrabbling to figure that out. We have been hearing that from a lot of startups in our portfolio. I think that taylor i just wanted to follow up quickly here. It is interesting, i was surprised by this as you talk to some of your Portfolio Companies and within your space, companies that have ipoed recently are actually outperforming the s p 500, indicating it might be a good time to go public, as crazy as that sounds in the middle of a pandemic. Are you talking to companies about if now actually could be a good time to go public versus staying private . Steve yeah, i think whats happening right now is a lot of pridetechnology companies a solution for situation. These were Great Solutions before covid, but during covid, it has shown a light on what is a way to shined a light on what is a way to operate as a company or as an industry. They a lot of these munication collaboration Communication Collaboration workflow companies, going public right now, whether it is drag listing or ipo, makes a lot of sense. Capital finds great investments in these times of great volatility. What we are seeing right now is not only increased demand one of our companies is tonal, and at home connected fitness company. They have seen 400 or 500 growth year over year like peloton. If you look at the peloton ipo from last year and you watch their performance through this year, you can see that spike in demand, and that is going from the individual side at home all the way to the company and corporation. Paradoxically, an interesting time for a Technology Company that brings a solution to market. It is an interesting time for them to go public. Taylor an interesting time in all of your thoughts on. Onnected fitness fascinating as well. Thanks to steve jang. Stay with us, because just ahead, criticism and threats of banning tiktok. The creators are looking to distance the app from its chinese roots. Taylor changes are being evaluated to the Corporate Structure of the tiktok business, as concerns are growing over the companys chinese origin. Joining us is shelly banjo, who has been covering the company for us. I am curious what you think of Corporate Structure change, spinoff, what that would achieve. Definitely. They are going to evaluate changes to the corporate creating a Global Headquarters for the tiktok business. These are efforts tiktok has been doing over the last couple of years, trying to establish themselves not just as a chinese company, but a u. S. Company or a global company. How much of curious this is coming do increased calls, at least here in the u. S. I was speaking with a senator yesterday who has created a Bipartisan Legislation call banning tiktok from government devices. How much of this is a response those in government not wanting that app in the u. S. . Ll thisu whole move we didnt really hear from the administration until this week, when secretary of state pompeo and President Trump came out and quoted a possible ban of the app. It looks like an actual ban of the apple would b difficult to carry out ban of the app would be difficult to carry out, but the sentiment is still there. The ms ration has moved to a hawkish tone the administration has moved to the hawkish tone of the republican senators. In the pandemic, someone to blame is china, and any company falls into that. Huawei is another target the Trump Administration has gone after. Taylor shelley and i spoke earlier, so i am going to do a correction. I was speaking with a congressman of colorado yesterday. When we are talking about a company with no Global Headquarters, is that intentional . What would a Global Headquarters would like to you, and where . right now, in every story you read, tiktok is owned by a chinese tech company. I think what they are trying to achieve is trying to recategorize tiktok as a u. S. Company. Someone from disney to be there ceo. Say, we have the ceo, he lives in los angeles, and this is an american company. They are creating transparency centers, they call it, where the area where they are inviting lawmakers and policymakers to come in. It is part of a larger ambition saying, we have nothing to hide, we are not part of this, the chinese government, and we are a social media company, trying to make money just like everybody else. Banjo bloombergs shelly covering all things tiktok. That does it for this edition of bloomberg technology. This is bloomberg. I got an oriole here. Eh. Common bird. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. Haidi good morning. Im haidi stroudwatts in sydney, alongside shery ahn in new york. Atry u. S. Stocks slump concerns that coronavirus will do real any economic recovery. Gold remains near 1800, oil slips, and demand stays weak. Infections continue to rise as global numbers top 12 million