Encryption back front and center. We will examine techs role in the responsibility eliminating terror from social media. Softbank announce the first round of Capital Commitments for a tech investment fund. With more than 93 billion in the coffers. The vision fund is asked to top 100 million in six months time and will focus on startups in the united states. Peter l strong joint us from tokyo with all the details. Peter it took a long time. Softbank originally announced this in october of last year. It came from the meeting with the deputy crown prince of saudi arabia. After many months of waiting that it would close, it did they did not get the full 100 billion dollars, but they got to 93 billion. A record for a tech fund. The core investors are softbank and the Saudi Arabian sovereign wealth fund. Abu dhabi has also put in moneys as well as qualcomm, apple, and some others. One name that did not show up in the press release was Larry Ellison of oracle. It is not clear whether he is going to come in at a later round or not participate. Emily talk about the vision for the fund as we know it now. Peter he has never been shy about his ambitions. He talks about a 300 year plan for the company and wants to last well beyond his own investments. He has already cut a very big deals. He put 5 billion in two the Ride Hailing Company in china. Venture roundest ever and now he has even more capital to be able to deploy it. He has talked about the opportunities he sees. He had some successes in the past, including alibaba and yahoo . He thinks now there are even better opportunities than in the past and it wants to be able to use this capital to go after them and Artificial Intelligence and the internet of things and other kind of cutting Edge Technologies as well as these kind of sharing Economy Investment he has made so far. Talk to us emily talk to us a little bit more about where we know this money will be invested next. Dede. W about what else . Peter he is going to be the key person on the investment committee. It will be an extension of softbank in some senses. They will focus on some of these areas. One of the big surprising that slashed year was the acquisition of arm the chip design company. , he sees that as a gateway into the internet of things where they will be able to collaborate in different areas of technology. Ride hailing has been a big focus. There are a number of these areas and he is one to pull surprises. There will certainly be one or two surprises on the horizon. Emily peter l from peter in tokyo. We brought in for more reaction to the softbank news at a larger perception on tech investment. He is one of the most prominent tech advisors in china and the founder and ceo. He has executive posted apple, that post at apple, microsoft, and google. We usually manage funds in the hundreds of millions of dollars. We began investing in ai and other related technologies cointreau years ago. We are also strong believers that the future of technology is great. The age of ai is coming so we are looking forward to safety softbank being a later stage investor in some of the companies that we and other venture capitalists have a buildup. Emily a lot of this is supposedly going towards ai. I am curious, could it be too much . Are there enough opportunities out there to warrant 100 billion . I think theyre certainly can be deals like that. They have already invested in. Idi, for example if you think about finding like that,companies they may be the money will be used up before you know it. Emily where the most competitive Ai Investments . They are still in the u. S. And canada. Jobs are strong because of the large market and the large base of ai knowledgeable people. 43 of top applications are written by chinese authors. Chinas large market will create a lot of data and ai is driven by data. China is coming on strong. I would currently say number two. But with a good shot at becoming one of the emily you gave a two superpowers in ai. Emily you gave a fascinating commencement address at club it. At columbia. You said in the next 10 years all Financial Companies will be turned upside down with ai replacing bankers and accounts. Accountants. Last year, my Ai Investment algorithm returned eight times more than my private banker. That reminds me, when i go home, i am going to fire my private banker. I hope he is not watching. Emily he is shaking in his boots. You go on to say you think simple jobs like factory workers and assistance will get complaints, but more complex jobs, doctors, teachers, reporters. Who still has a job in this brave new world . I think the creators will have a job. The creators in Technology Science and also arts and entertainment. Thats a significant portion. I think people who are in Service Industries who deal with social aspects of service. That will actually be a set of jobs we have to create. Unlike in the Industrial Revolution where a set of jobs is gone and another set came about through the assembly line, this time we have to deliberately create these jobs that relate to social aspects because ai is no good at dealing with people to people. Hordes ofyou see Unemployed People or do you think those people will get other jobs that have yet to be created. Dr. Lee i think first there has to be a way to redistribute the wealth created to ensure some kind of social welfare and minimum stipend for the people who are displaced and it will take time for some amount of retraining and i think if people are open and inclined to be retrained in the social aspect of the job, a bartender,asseuse, tour guide, concierge jobs like that, that will be on the rise for the people to people interaction. Lee, founderas dr. Ceo. A bloomberg scoop, softbank has a 4 billion stake, make it the fourth largest investor in the chipmaker. The stock tripled last year and is up nearly 30 this year, giving the company a market value of more than 80 billion. The worlds leading maker of is betting on a new unit so small it fits in the palm of your hand. This week, they unveiled the smallest drone yet. Bloomberg attended the event. You can take the new drone for a spin. Selina i am here in new york city at Grand Central terminal for the unveiling of the smallest and lightest drone yet. I have it right here in my hand. It actually weighs less than a can of soda and only 499. With this, they are really hoping to step into an entirely new ballgame and hoping to reach the masses with this very easy to use drone. It actually takes off and flies directly from your hand. I am here with Michael Perry and in my hand i am holding recently launched this fall and the newest one today. This tiny little thing has a ton of technology. Features as same even your larger drones. How did you get it so small . A lot of work a lot of work. Over time, our first product was about this big and just the flight controller. Able toe, we have been bring it smaller and smaller, making it more energyefficient and somewhat more intelligent adding new features like sensing obstacles and avoiding them in real time. We have done a lot of work to strengthen and stop shrink this down and still provide a powerful product anyone can use. Selina is this going to expand the total market . We think that when looking at the overall market for dgi, we see a few barriers. The first is price. We feel like at 499 we have a lot of technology. We also have ease of use . Finally, how often am i going to use this . We made this as easy as possible to get up in the air and tell great stories. Selina we are standing here at Grand Central terminal in new york for a reason. What does the u. S. Market mean for you . How important is it moving forward . The u. S. Remains our largest market in the world. What we see here is a lot of interest in Drone Technology specifically. Over 46 of the customers that we told were interested in buying a drone this year so we feel like this system overcomes a lot of those barriers and allow them to get into the market and start flying. Selina lets talk about competition. The Chinese Markets chinese have flooded the market with cheaper drones. Where do you think this guy is going to stand . We want this drone to be peoples First Experience with a drone. When you look at Online Reviews and try out the technology, consumers might be interested or they drop out because they feel like it is too hard to use. We put a lot of intelligence in the system so it can be simple and anybody can get up in the air and have a reliable flight experience. We have found that by having better technology, consumers have a lot more confidence and they are more willing to give it a shot. Selina can you show me how it works . Lets do it. Selena do i let go . Now its just hovering. Selina amazing. How do i bring it back . Raise your arm and go like this. Its coming back. Bring your hand to your chest. Now walk to it. Just like that. There you go. Selina dgi is operating in a competitive and niche space. Small. The drone market is still very small. It is expected to grow to 11 billion by 2020. Dgi is betting that with this tiny, lightweight drone, they think they can get the masses to want to take a personal drone time will tell if they are going wherever they go. Time will tell if they are going to be able to reach the masses in the way they hope it will. Emily that was selina wang. Short seller carson block is raising concerns about snapchats parent company. We will dig into his research, next. If you like bloomberg news, check us out of the radio. You can listen on the radio app , bloomberg. Com, or in the u. S. On sirius xm. This is bloomberg. Into carson take blocks research on snap. He has areas of concern, including Corporate Governance issues, ethics, and the strength of snaps Business Model. Erik schatzker asked him about his research. Carson weve done a decent amount of work on snap. As you said, we are not short snap at present. We might be short in the future. We really have three categories of concerns. Ik we should remind of your buddy this is the owner of snapchat. Carson we got Corporate Governance concerns and some of those are wellknown, but they are also real questions about the ethics of the company and that is something that is not well known. Weo, this is the area where are really trying to form the view questions about the Business Model and strategy coupled with the fact that it effectively has a lot of debt in the form of commitment to Amazon Web Services and google for cloud hosting. Erik lets take them one by one. You say some of the Corporate Governance concerns are wellknown. They might be known to many people, but not all people. Some people may own the stock may not know about the fact that there are no Voting Rights in shares. The First Company i have ever seen that has no Voting Rights in its shares. On the surface, that strikes me as a Corporate Governance concern. Carson thats not the chief concern. Thats definitely a concern. The ceo, evan spiegel, he strikes me as one of the founders who you dont necessarily want around to run a mature company. Erik why . Carson at this point this gets to the ethics concerns we have that is partly to more than replace the 300 almost 300 million sold on the ipo. That is really erik that is a red flag to you . Carson you dont really want to see that conflict of interest or that out right money grab. Beyond that, the actual ethics concerns, there is a whistleblower lawsuit recently filed by a few former employee. He was only with the company for three weeks before he was fired and in his lawsuit, he is alleging that at the time that snape was telling investors and advertisers that they hit 100 million daily active users, it was really about 80 and there are other issues at the time. At the time, they were apparently telling everybody they were growing double digit month on month in terms of daily active users. He said it was really quarterly low to mid single digits, which is what we see now with the First Quarter as a Public Company. Erik lets say he is right and you are right to give him some credibility. Who is to say that evan spiegel who his and his mid20s isnt going to grow out of this stuff and grow up if you will and start running snap like the other like a Public Company . Carson one thing i want to asize is that is a we had one of our investor investigators do a lot of Due Diligence and every thing that comes back into lynns indicates he is a very standup guy very serious, very honest. , erik he checks out. At this point, i would say it is probable that he thinks what he is saying is correct. In terms of the question of can a zebra change its stripes . Lets say speigel was problematic before, can he straighten out . Here is the real problem i have with that, he has just been massively rewarded for this unethical, problematic behavior. People who are positively rewarded positively sanctioned for that, i dont see them all of a sudden having this moment where they say that was great back then, but now is the. Ime to really tell the line that have toe like have something really bad happened to them before they correct their behavior. Erik a 26 stock price drop is on the day of earnings is something bad. Bad not sure if it is enough. Before we run out of time, lets get to the Business Model and strategy issues. It sounds they may be as though they may be even more important than the ethics problems and Corporate Governance issues. Carson for us, we dont do a lot of forwardlooking analysis. This was the piece for us we really wanted to work on more to come to a view. For people erik everything snapchat does, facebook seems to replicate. Carson right, but there are some important differences. The Younger Generation thinks of facebook as we thought of oldsmobile and we are not interested. They are not going to go to facebook, but the counterpoint to that which i actually think is a very salient counterpoint is that snape is great when you are a teenager in high school and you have your clicks and you are trying to hide things from your parents. As you get to college and start thinking about applying for jobs, that is when you want to embrace the wider world and snap which it with its focus on tighter networks as accused as of to the whole world like facebook is not well for that. The counterpoint to the thesis on snap is that todays teenagers will become tomorrows prime they will use facebook as the primary social Network Going forward. It is not that we see a real generational difference. Emily that was Erik Schatzker and carson block. Coming up, the u. K. Is on the highest level of alert in the wake of a terror attack in manchester this week and a potential conflict is brewing between tech giants and authorities who want access to encrypted data. We discussed. This is bloomberg. Emily this week the u. S. , government gave an update on on expanding its laptop ban on flights. Homeland security has decided not to widen the ban of laptops and other electronics used in airline cabins for flights leaving the agency hasnt made a decision about electronics on incoming flights from europe. Meantime u. S. Airline travelers , will face more scrutiny of electronics larger than mobile phones at about a dozen domestic airports. Passengers will be asked to send Large Electronics including tablets through xray screenings separately from their carryon bags. The agency says this steppedup screening may be extended nationwide. All the while there is continued fallout from the worst terror attack in the u. K. In more than a decade the Terror Threat level. Has been raised from severe to critical its highest level. , there is a demand for access to encrypted messages as part of the investigation, urging social Media Companies like facebook and twitter to go after terror posts on their sites. Caroline hyde spoke with jeremy khan about next steps. Jeremy they would like all of the social Media Companies to do a much better job of trying to police content on their sites, taking down posts from terrorists or terrorist sympathizers or those encouraging extremism. They really want social Media Companies to close down those accounts, delete the content, remove users repeatedly reposting jihadi content or content that would be praising these attacks. That is one thing. The other thing is the home secretary amber rudd come out and said that she would Like Companies to end to end encryption. These are Services Like whatsapp that are encrypted across the communication chain so the government cannot access them. What she has said is she would like these companies to be responsive in particular requests when they want access to this information the government given access. She is basically asking them to come up with a way where they can meet these requests. Caroline it feels like deja vu. Referring to the San Bernardino shooting and we saw apple taking on the u. S. Government. What argument are we likely to hear from those who have the end to end encryptions . When are we going to hear a response . Jeremy you will hear them say they dont have access to this information. In order to meet this request, they would have to build a backdoor. This is what we saw tim cook saying in the apple case and the fbi was asking for a backdoor. If they do that, it is not just government that could use this. It could potentially fall into the hands of someone else and you could end up with hackers having access to this. We just had this huge ransom ware attack. We will see some social Media Companies say if we do this, you are opening up a can of worms that allows a criminal element to use this potentially. Caroline has there been much of response from Technology Companies question mark obviously they can highlight the efforts they have had to try to take down terrorist activity and misuse of their social media outlets. A they responding to the calls to end encryption as well . Jeremy they havent yet. We will see in the next few days if they come out with statements. I think they very well may. It also depends how much amber rudd repeats this. This becomes a talking point for her for the government, i think you will have to see a response from the tech companies. Emily still ahead, the impact tech is having on the labor force. We will catch up with new america ceo annemarie, next. Focus on self driving with a surprise shakeup. What new Ford Ceo Jim Hackett brings the table. This is bloomberg. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Emily welcome back to the best of bloomberg technology, im emily chang. The digital revolution is transforming the world of work, with the latest technological advances placing some jobs on the chopping block. With that in mind, the think tank new america released the commission on technology. The report that outlines four future workplace scenarios that could play out in the next 10 to 20 years. We caught up with the president and ceo of new america and former director of policy planning under then secretary of state hillary clinton. I started out by asking about Workforce Trends she expects to continue. I think we know some things are given. We know there will be some amount of automation, we just dont know how much. We also know that there is a shift going on from jobs to tasks, like in the gig economy, we just dont know how much. Our scenarios run through different combinations of jobs, more or fewer jobs, and whether that will be more jobs are more tasks. Emily what did you learn about what the Technology Industry doesnt understand about government, and vice versa . [laughter] yes, this was very much a washington meets california project, where i think the Tech Industry is often, lets ask forgiveness rather than permission. Washington is much more, look, you have to think about the Public Interest as a whole. One of the most interesting interactions, for instance, was between Union Leaders and faith leaders and tech startup entrepreneurs, where the entrepreneurs were talking about this great technology, and others in the room were asking, yes, but what happens to the workers whose jobs will be lost . Even if there are more jobs created overall, it wont be jobs for them. What do we do about that . Political. Often emily you work for secretary clinton at the state department, and many have said you would have a key post in the administration, had she won. The kind of impact do you think President Trump will have on the future of jobs, for better or for worse . I dont think President Trump, himself, or had there been a president clinton, would have been able to control the future of work. Those are market forces, human forces, technology forces. What i do think is critical is the government thinking about things like portable benefits and really good health care, because only if we have the ability to move your retirement and your health care wherever you go, rather than tying it to your job, will we be able to take advantage of the technology and the economy thats coming. Emily are facebook and google too powerful when it comes to Political Affairs . Do you see them abusing their power down the line . I think one of the things we think about when we look at the future of work are what the economy looks like now is not likely to stay the same for the coming decades. If you go back to the late 19th century and you look at the power of railroads and big oil companies, big steel companies, sooner or later the citizens and smaller businesses demanded more of a share of the market. I think even though google and facebook and amazon and other Big Tech Companies offer extraordinary benefits, the public as a whole is going to want to find more ways to share in those benefits. Emily as a longtime foreignpolicy expert, i am curious for your thoughts on facebook and twitter and their responsibility when it comes to fake news, and especially your thoughts on russia potentially meddling in u. S. Affairs via cyberspace. Well, the russian meddling in the u. S. Election was an act of aggression, right . Putin seeks to destabilize our democracy, and we can now see that he has done that in a whole lot of different ways, through meddling with the president ial campaign, through hacking, through putting out fake news. One of the challenges for facebook and twitter, and for all of us, is that when the Public Square is privately owned, then of course there has to be some sharing of responsibility. Emily your article, why women still cant have it all, will probably live on forever in the cultural zeitgeist. Im curious if the conversation since and the rise of the lien movement has forced you to reconsider anything you wrote there. I think i have not reconsidered my original claim was that work has to change as much as people have to change. I think Sheryl Sandberg agrees with that, and i dont think there was nearly as much of a gap as people imagined. But what i do believe, very strongly, now, and that i wrote in my book unfinished business, is we have to think of this not as a womens issue, but i care issue. This is for all people who care for children, for parents, for spouses, for siblings. Our Society Makes it very hard to combine earning an income and caring for others, and if we want to exploit the talent of our society, if we want to harness the growth and potential of our citizens, we have to acknowledgment most workers also now have caregiving responsibilities, not just women and make room for those responsibilities and support them. Emily that was annemarie slaughter of the new america foundation. The commission on workers and Technology Report was done in partnership with bloomberg televisions parent company, bloomberg lp. Coming up, a major ceo shakeup at ford. What a means for the companys self driving car initiative, next. This is bloomberg. Emily it was this day in tech 15 years ago this week that netflix made its public debut. Back then, it was a dvd rental service. Since then the stock has had a strong run, but not without stumbles. Netflix stock lost nearly 80 in 2011 after it raised the subscription fees and attempted to split up dvd and streaming services. Still, the company is a massive growth story. Its stock has risen 40 every year on average since its ipo. A surprise shakeup at ford. Mark steel is out after less than three years as ceo. Shares of the number two automaker in the u. S. Fell 37 during his time in office. The new chief executive, jim hackett, who is leading the initiative with self driving cars. And fordd executive chairman bill ford spoke to bloomberg tv. I have never seen such a time in our industry where technology and competitors and everything that is converging to drive real change. It is very helpful in a time like that to have a leader who is very experienced in driving transformational change, and fortunately we have that in jim hackett. Emily we caught up with bloombergs david welch for more. What really hurt was the stock prices went down so much. Their earnings have been down, they have been pulling in their forecasts, while General Motors has been raising. This is common. Toyota has been doing this, too. The auto market is peaking, but you arent seeing the big Company Stocks down quite as much, and the board felt a lot of pressure. When you look at the self driving car side, that didnt have a clear direction. Those are questions the board wanted answered. In the case of gm and others, you have Business Units they have acquired, they are testing cars in san francisco, they have a piece of lyft and are experimenting with putting those in the fleet. They have some clear things they want to do, they have their own business maven. Ford is not have any of that as clearly laid out, and they wanted some direction. Emily are we expecting job cuts at ford . They already announced they would cut 10 of the salaried staff globally. I dont know that they will be cutting more cost they have gone up in the past years, so you could see more. The new ceo will look at the executive team, the look at costs. You could expect there will be more executive changes and more cutbacks as well. Emily one of the Big Questions is whether ford can catch up to the more forwardlooking automakers like tesla. Battery making giga factories are about to arrive in europe, a term coined by elon musk, and now daimler wanted peace of the pie. Nts a piece of the Caroline Hyde joins us from london. Caroline, what do we know about the european gigafactories . Caroline they are all pushing in the same direction. This is why mercedesbenz and maybach broke ground on a new plant today. Angela merkel was there. It is about not only seeing the auto sector push toward the battery trend, but the utility sector, as well. Both of these juggernauts of Industry Groups are looking to capitalize, mainly on the falling cost of energy storage. This all becomes a bit of a virtuous circle as carmakers such as daimler, as volkswagen, want to get into the Greener Energy cars. Meanwhile, the likes of utility makers in italy, finland, sweden, are looking to store Renewable Energies better. All of them are pushing in the same direction. They are going to produce more batteries, thereby pushing down the cost and making the whole economy even better and better and more virtuous. This is why we are seeing the likes of daimler get in, why the new Energy Finance researchers have said, look, battery costs could fall 43 in the next four years. This makes electric vehicles perhaps cheaper than normal vehicles as soon as 2023. Emily david, are we thinking that giga factories will pop up for more automakers . You are seeing forecast of lithiumion battery production tripling by 2021, and there are a lot of cars coming out, particularly from german automakers. You look at the one Just Announced today, daimler. If i am daimler, i sell commercial trucks and luxury cars. What is elon musk making . He is making electric luxury cars and planning on commercial trucks. They are going to put new vehicles out. Bmw will put out some battery cars. Porsche plans to. Every automaker has to do it for regulation, but a lot of them are seeing tesla has some cool cars, and toward the end of the decade we will see a lot of electric cars coming to market. That is what these batteries will go into. Emily caroline, will daimler be able to catch up to tesla . Is that the question . Caroline that is the key question. They have a lot of models coming out, and they have their own politicians. Merkel out of germany said, look, by 2030, we want to see 6 million electric vehicles on the road. They have to please their own government. They want targets of their own. It looks as though we could see about 1 5 of all new cars full by 2030. The way you take it on is by making the battery more economical, so if we see the cost slashed by 40 , thats the main cost of the car you are producing. Emily amazon just opened two grocery pick up kiosks, its latest effort to into the grocery market and compete with click and collect shopping options. The amazon fresh pickup spots let shoppers buy groceries online and pick them up in that pick them up in as little as 15 minutes rather than having them delivered. Its a feature that is available if you are an amazon prime member. Grocery sales have been slow to shift online, unlike books and, electronics leaving advantage to the competitors. Which is why they are experimenting with brickandmortar. And amazon continues to open brickandmortar bookstores around the country, the most recent on the west side of manhattan. Shira ovide took a trip to check out the newest bookstore on the block. Amazon helped kill bookstore chains. Now it is trying to become one. The Company Since 2015 has been opening a handful of physical bookstores in places like seattle, san diego, and chicago. It just opened tis seven location in an upscale mall in new york city. People arent moving away from buying physical books. We sell a lot of physical books, and we wanted to give them a new way to discover books. The desire to find a book you love is a desire that is very common, and we felt like we could make it easier, make it more delightful for customers in the physical space. All the books in the store are bestsellers, four stars or above by online book buyers. There are sections for books that large numbers of people have added to wish lists, and there are no prices listed on the book titles. You can open the amazon app on your phone and scan the book cover to get a price or take the book to a scanning station inside the store. Amazon is also using its bookstores to get people to bring more amazon into their homes. Theres a big section for people to test drive the companys gadgets, like the kindle fire tv box that streams web videos to your tv. There are also kindle ereaders, amazons line of voice activated home speakers, and other home electronics. Customers have asked for it. They want to try it out. They want to see what a smart what does a smart home look like . What can i do to make my home smarter . How does the amazon music interact with the echo . What kinds of things can i ask alexa . They want to see it, they want to talk to the experts about it. We have brought that into the store. It is still not exactly clear why amazon is bothering with physical stores at all. Its website is already the biggest bookseller in the world, and the popularity of shopping for books and much more on amazon. Com has crushed bookstore chains like barnes noble and borders, which went out of business. Amazon doesnt disclose sales at its handful of stores, but it is probably a tiny fraction of the companys 140 billion in annual revenue. One final note of irony before borders went belly up, it had a bookstore in the very same mall that is now home to amazon books. Emily coming up, this week spelled more trouble for cooper, four uber, here in the u. S. And abroad. We will bring you the latest be on the matter. Plus, how that has President Trump been Media Companies . We will pose that question to mark compton, next. This is bloomberg. Emily uber is in the hot seat again, admitting to shortchanging new york city drivers millions of dollars by improperly calculating the companys shares of passenger fares. Turns out they were taking their cut based on the pretax sum, instead of after taxes and fees. Uber will pay drivers back 900 each, which will cost them tens of millions of dollars. Uber also facing trouble abroad. Israel is indicting them for allegedly offering illegal rides. According to a ministry statement, the company picked up passengers for a fee without a government license. Undercover agents have been posing as passengers for several months. The Ridesharing Service is illegal in israel, where drivers are banned from charging rides and private cars. Instead they have been using uber night ride in tel aviv, where passengers pay drivers reimbursement for expenses like gas. They launched their service in israel in 2014, attempting to lure users away from their local rival. We talked about the ongoing battle with wamo with Eric Newcomer and famed investor roger mcnamee. He is a noted investor in facebook and cofounded a private equity. He brought us up to speed on the latest uber headlines. Uber settled, saying you have to testify at our civil suit, even though you are pleading the fifth, or we will fire you. Thats not that big of a surprise. They want himhow to testify in their defense. Emily this is a huge court battle over self driving cars, and you think this is a big deal. I think its a huge deal. And the reason i think it is huge deal is that self driving cars are further out than the conventional wisdom, and will not come soon enough to save uber. They are better off taking the money they would invest in it and buying cars from some of the company that makes them and just as in china, where the great move was to get 10 of didi, and then exit the market, i think exiting self driving cars will be a profoundly positive thing, if and when they choose emily but they already have self driving cars on the road. Yes. So what . The path to self driving cars that can actually be the core of the fleet is still maybe a decade or 15 years away. I dont know how long it is going to take, the we have to to take, but we has to to change the way roads work, the way cities work, and none of that its all these edge cases. How will they get to know drivers . Will they change the economics of the business . I agree that the distance is out. I say that uber defense is that they need this story of someday there will be self driving. There is growth there. They definitely think they need to make the human driver profitable, but the idea is that self driving gives them the story that, at some point we will have this new line of business thats even better, keep investing. It also causes the risk of bankruptcy to go from nonexistent to very material. Again, i have no crystal ball, but i going, i think they are nuts. I think at the beginning they should have bought cars. They should inspect a car that was the same. If you think about southwest airline, every plane is the same. They should have this like a server, bid 50 under the cost in the consumer market, put them on the streets with keyless entry, give the drivers the key, and own the car and insurance. That would have been my recommendation and they chose not to do that. I dont think self driving is the answer, and i agree, it is going to be hard to the valuation when the exit that, but it is better than going broke. Emily the New York Times has been making news with its own scoops and as a target of President Trump. David gura caught up with Mark Thompson of the jpmorgan tech, media, and Telecom Conference in boston, where they talked about Times Partnership with social media platforms and the changing landscape of the news. We have the polish of a multifaceted platform with google and snapchat and so one. We are all experimenting with them. What is the best way of giving journalism to people . I think the major platforms are asking themselves searching questions about truth and falsehood and about their responsibility when it comes to journalism, and we are very happy to work with them. At the same time, because we want a deep relationship with our readers, the best place for enjoying the New York Times is our own digital destinations, as it always has been. David let me ask you about the rivalry between you and the Washington Post. When it comes to covering politics, you guys are having fun with each other, breaking things back and forth. Is what you are doing replicated will and other newspapers . What do admire about the Washington Post . I think the Washington Post that story is the story they have to get right, national coverage, great coverage of the art. The New York Times is a much more broader provider news. On that story, thats their home ground. We are very happy to take part in the dual every day. I would say its an exciting time to be a journalist, its important to be in journalism right now, and part of whats great is seeing outstanding journalists compete with each other, not in a underhanded or cynical way, but to get great stories. I think thats whats making wonderful place for journalists. Emily baskin ceo testify before congress, making the case for integrating robotics with on demand deliveries. They tested out self driving robots, but the emergence of automation has also sparked regulatory concerns about safety and fears around displacement of human workers. I started by asking lehman about this fear, and how he imagines robots integrating. I think we will have what we believe is a sidewalk class robot that will do a lot of the ultrashort range deliveries. Highly dense metropolitan areas is where we believe we can deploy our sidewalk class robots in the most efficient way. These are often deliveries that are probably not suited for human labor. They are relatively short, the return as monetary value for the workforce is not as great, and this is where we think we can have the biggest impact. Emily what do you have to say to the elon musks or Stephen Hawkings of the world who have concerns that robots will eventually supersede humans, or perhaps even become us . I think its all a question of timeline. I think elon is right in his remarks, that we have to be careful, specifically when it comes to ai. I believe the things that he tries to fund, they are great ways to get the knowledge out there to a broader base of people, and not just have too intelligent, isolated ai operating somewhere. When it comes to robots, i think they already augment our life. Automation happened a while ago. While there are some areas where we still have to ask or the have to explore the impact, there are others where automation cant come fast enough. There are jobs that are simply not safe enough or secure enough for humans to perform this task, and that is something positive we should focus on. Emily and that does it for this edition of the best of bloomberg technology. We will bring you the latest in tech throughout the week. Tune in every day, and remember, all episodes are Live Streaming on twitter. Check us out weekdays. Thats all for now. This is bloomberg. Jonathan coming up, the stories that shaped business around the world. Donald trump takes meetings and making deals while back in washington, his first budget makes waves. That is something that is not been received to well on capitol hill. Economists are foul. Jonathan a terror attack racks up the threat level. Opec did with they could do. Justified some time to get more data. Dimon of jamie jpmorgan opens up