Transcripts For BLOOMBERG Bloomberg West 20151216

A record low. To the weakest luxury good market for six years. Less than 1 of their revenue comes from online. Lets take a look at the markets. Hong kong and china currently closed for lunch. Here is how they were trading in morning session. Hang seng index nabbing the longest losing streak we have seen in decades. This is a picture in singapore, tokyo, and mumbai, asian stocks rebounding as fed day arrives. Well be back in half an hour. Time now for bloomberg west. Emily coming up, the governments new push to monitor social media. Terror threats shut down schools in los angeles. Apples areas 51 revealed will go live in taiwan for a look at the figure Production Lab. Slumping oil prices are casting a cloud on solar power companies. We will sit down with the ceo of sunpower to look at the industry profit forecast. First, to our lead. I want to talk about what is going on in washington. Joining us now, bill, a senior fellow on american broncos where he works on National Security issues. He also worked at the cia and the pentagon and was deputy staff director for john kerry at the department of state. Also with us is derek who covers congress and capitol hill. Whats going on right now working on the plant is green working on a plan to scrutinize the social media post as part of the visa application process. Take a listen to josh earnest in todays press briefing. I guess we dont have that but, this move is part of a new focus on sites like facebook and twitter after the deadly shooting. At the same time, we have an influential House Committee preparing legislation to tighten loopholes in the visa process. An overhaul of the previous visa that one of the San Bernardino you shooters used. Starting with you derek, break down the potential measures for us and what they really mean. Derek one of the things that has come under intense criticism is that there is a policy prohibiting looking at social media and apparently one of the San Bernardino shooters had made several posts on social media that people say, had they been flagged or had people notice, maybe they could have kept her out of the country. Maybe that could have stopped a couple of things. This will be an intense focus from republicans on capitol hill as well as from democrats. At least two pieces of legislation that we know of are in the works. One from the house and one from senator john mccain. They are expected to demand that Homeland Security monitor social media posts. A group of democrats send a similar request today. The pressure on this is very much intensifying in the last 48 hours. Emily what is the current policy of the department of Homeland Security when it comes to social media . As i understand it, they are not allowed to monitor social media in certain cases . Bill this is under review right now. The general policy is not to. There have been some questions about Civil Liberties and there have been some questions about feasibility. One of the big things that is being brought up is that how would you do this . In this case, some of the posts were restricted in terms of who could view them. There may have been posts with some sort of pseudonym. There is a real question about if im on facebook or if the visa recruiter is not one of my friends, how will he see it . Will they get my direct messages . What does this look like and what are the powers that we are offering and that is one of the things that people are heavily looking at now. Emily as somebody used to work of the cia and pentagon, what is your take . Bill as to how it is being amended, we would have to look at the proposals. The specifics of the proposals. Lets take a step back. With dhs, certain officials are allowed to have access to social media. The three pilot programs that have been going on at dhs for the last year to sort of figure out a way to make this issue has to do with this issue anymore practical and realistic manner. The other thing that is important to mention josh earnest made a statement yesterday saying that the president has ordered both the department, and security and the department of state to look at potential security gaps. I think that is an important and effective first step. Obviously, we want to get as much information as they can to keep ourselves more secure and safe. Emily we do have that quote from josh earnest. I want you guys to take a listen. We will leave it to the experts to determine the best way to strengthen the security of our screening programs. That is, after all, the president s top priority. They will be able to best us as best ss the optimal way to incorporate the review of social media postings. Emily derek, are we talking about public post . As their public, why wouldnt the department of Homeland Security take a look at those . Derek certainly, public post will be one of the things that are under review in this. Yes, it makes a lot of sense on the surface, one of the things that will have to come out over the next couple of weeks to months is what the review looks like. What are the guidelines that get put as the white house is going ever Homeland Security, where do you draw that line . This is one of the things that congress is very interested in. One of the things that will be interesting is that Homeland Security may be able to get a little bit of time to do this before congress or the pressures them. We have indications that language on this may not be in the spending bill that will be coming out. There are talks that they would be. That pushes us into around january at the very earliest as to when something to get done. The white house and the Administration May have a little bit of time to figure that out. Emily bill, when authorities need cooperation from Companies Like facebook and twitter to make this work . Bill i would think you would want that cooperation. Let me take another step back. A good way to approach this would be, lets identify the problem. What is the problem that we had . What are the specifics . What are the solutions are possible solutions that we could implement to address the problem . What are the realistic prospects for implementation of those solutions . I think all three of those are important to consider when moving forward and taking a hard look at this issue. I say that because i think we would need to work with the private sector. We would also need to work with the agencies to figure out what works. What actually makes us safer. What can we actually implement as opposed to just sort of moving forward on something that actually does not necessarily make us safer. Im not suggesting for one moment that that is what congress has in mind. This has to be a partnership between congress and the administration. The agencies who are charged with implementing these basel implementing these proposals and the private sector would have to be part of this process. If they would be part of the monitor conversation we need to have to make ourselves safer. Emily bill danvers, senior fellow at american practice. Thank you both. Coming up, we all of a good bargain. Why have shoppers fallen out of love with flash sale websites like gilt . Emily lets get more on our top story, the is department Homeland Security is working i plan to screen i social media posts as part of its fees application process. This move is part of a new process focusing on it they spoke and twitter after San Bernardino. Joining me as representative trey gowdy, chairman of immigration and and another subcommittee. What are the prospects of getting these kinds of things enacted anytime soon . When will congress be able to act on this . It does not require congress to act. Dhs could check social media starting yesterday if they wanted to. The only Reason Congress would act is if we cannot convince jeh johnson who is the head of the department of Homeland Security that there is a legal basis for checking social media now. They could do it starting yesterday if they wanted to. Emily what is your position on social Media Monitoring . My position is in three separate categories. There are u. S. Citizens that are in the United States. There are noncitizens were not in the u. S. And if you are seeking to emigrate into the u. S. , almost by no finishing you are a noncitizen who is not in the United States. Before the memo does not apply to you. There is no expectation of privacy. The Fourth Amendment does not apply to noncitizens who are not here. The notion that you are worried about violating somebodys fourth mmn privacy right and they are not citizens and are not in the u. S. , you dont even need to go to law school to know how foolish that is. Emily what about this potential tightening of a loophole in the k1 visa process that gives entry to the fiancees of u. S. Citizens. I dont know that you need to tighten any loopholes as much as you need to do exactly what you are supposed to have done from the getgo. Lets look at the female terrorist in california. She applied, that is one level of scrutiny. There is an investigation. There is an in person or is supposed to be an in person interview at the consular facility in whatever country she is seeking to immigrate from. Then, once youre married, within 90 days, there is another interview as part of the green card process. That is three separate opportunities that we have to ask the right questions in the right way and did a proper investigation. There are no loopholes that need to be closed other than malfeasance and not doing what youre supposed to do. I was investigated more strenuously before i became the federal prosecutor fan this particular k1 visa applicants, despite her social media postings and despite the fact that she had been radicalized before she ever saw entry into the country. All i am simply asking is, use the tools that you have now and do your god. Your job. Emily youre working on a big spending bill needed to keep government open by friday and it looks like it does not contain restrictions on Syrian Refugees and other republican priorities is this something in the current form that you would vote for . Its probably going to have to have thes button on not just Syrian Refugees but the pods by 10 on respect to National Security. With the visa process to be able to support it. Keep in mind, the syrian refugee bill garnered the vetoproof majority in the house. Im not secondguessing speaker ryan, he has considerations that im not privy to. The fact that it got that big of a vote in the house of representatives suggest to me that it should be part of the omnibus. And if it is not, i will not be able to support it. Emily you mention speaker ryan. Obviously this is his first, big test. How do you think he has done . Do think that he has let the party down by failing to get some of these priorities in their . I dont. I think he is the best person that i can think of to be the speaker of the house. Having said that, it is a very difficult job which is why you see so few people raise their hands and volunteered to do it. He has to balance and way considerations that im not privy to. I know him really well. He is incredibly bright and incredibly principal. The fact that he negotiates a deal that i ultimately not able to write does not mean that he let anybody down or he failed to do his job. It just means that the people i work for would have rather seen a different deal. Paul ryan is uniquely wellsuited to be this bigger the house. Emily congressman trey gowdy, immigration and Border Security subcommittee chairman, thank you. Stock we are watching today, qualcomm, rejecting calls to split itself into. The chipmaker deciding to keep the licensing arms together after a strategic review. Ceo says the company is well positioned for the future. Our Business Model has enabled us to lead Important Technology transitions in the past. We are well positioned for success as the industry goes through further transitions including the convergence of wireless lan technologies as well as 5g. Emily shares of qualcomm has fallen 30 this year. Up later this hour, Science Fiction or fact . Apple opens a secret lab in taiwan. We go fly to taipei on what the company is up to. Emily a stock we are watching, yelp. Investors are in pain as shares sunk 10 today. After facebook started testing a product that directly compete with the Consumer Review site. The new facebook feature will send people to the toprated local businesses and arizona and their betting that it is likely to follow the opinions of your friends when it comes to choosing where to go. A look at potential gilt close to selling itself or a fraction of the 1. 1 billion valuation from 12,011. The ceo of saks fifth avenue is trying to buy gilt for a quarter of a billion dollars. It is not the only online retailer looking for a lifetime. Another sold to qvc. Fab. Com sold itself. A Home Furnishings site announced a plan to cut a quarter of its staff. Whats going on . Joining us is a senior analyst. I remember two years ago when i was looking at these sites for deals around the holidays and it did not occur to me to go there this year. What is really going on here . I think that what you are seeing is that over the years, these flash sale sites have really struggled to get a compelling supply of merchandise. They have really struggled to continue to grow. It is an expensive business to have a flash so business. It is basically an outlet store with a whole bunch of expensive, creative and merchandising costs. That is really what you see. They had a really tough time getting access to great supply. It was expensive to manage and run the business. That is why youre seeing a lot of the shakeout that you are seeing. Emily its interesting, it was said that even if someone buys gilt theyre still getting the short end of the stick . What is the argument . It was a nice argument. This is not something that Consumers Want anymore. Youre not going to the flash deal sites to shop for holidays. It is a problem that startups will continue running into. When you think about where they go next, you either have an exit or you build into a big institution. For some of these companies that are not able to find customers after that first burst, or not really able to build into the institution, youre probably going to continue to see some of these flash sales of the businesses where they are selling for a discount because theres nothing left for them to do. Emily it is interesting because we have also had discussions about how retailers, themselves, are struggling. I would think that people instead of going to these websites are going directly to retailers, the retailers are also not doing well. The discounts, especially this Holiday Season are so steep i cannot possibly imagine how they are turning a profit. Its not just an issue with retail season, this has been a chronic issue in retail for many years. It is that there is deflation, particularly in categories like apparel. As a test sector to make very much money. The idea of sales is very compelling. The issue is that all of these flash sale sites that we are dealing with have a ton of competition and the fact is if you are selling things for such a low price, you need to figure out a way to keep your expenses as low as possible. And to have really high production value. To figure out a way that your merchants can romance these very elite brands. That is a very tough that value proposition. That is ultimately what happens with these websites. There is another point. A lot of these internet businesses are supernovas in the beginning and that is often because of social networks where everybody who would be interested in the business learns about them all at once and they tried them all at once and investors mistake that for this longterm momentum when, in fact, all it is is your kind of compressing your entire into a sixmonth timeframe as opposed to a fiveyear timeframe which is what it may have taken in the past. Emily is there hope here or is this just a guy model and what exits are we going to see . For the companies there is hope, but the question continues to be, can you convince customers to come back to the website and when you look at them spending a lot of money to bring customers and, it is a thing that we are seeing over and over and startups spending money to make money. Yet, when the investors really want to see them get over that and run a sustainable business, with Profit Growth and growth on the bottom line, that is where well continue to have some problems. Yet seen it shakeout a little bit with the likes of some of the other ecommerce marketplaces like ansi at the etsy. There are not a lot of these Retail Companies that people are really paying attention to. You think about pinterest and there is still a question about what is the Business Model . Bottom line, these Companies Need to figure out how to make money and had to grow past the initial on boarding of customers and had to turn into a Business Model that sustains and is not just jesse at the start. Emily who do you think when . We talk about the companies were struggling, who is doing retail well go well at . Other than amazon, the customer is the winner because they are the ones that are the beneficiaries of all of these great discounts. The issue with flash sale was that it was never as big as everyone who as an investor that it was. Investors were out there thinking this was a 100 billion sector and the truth is at best dish emily we have to leave it there. Thanks guys read will be right back. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Rallying aheade of the fed decision. Shares rallied from their lowest level since the start of october with the hang seng index stepping his longest losing streak since 1984. 76 odds that fed rates will rise. We will have extensive coverage of the reaction to the fed decision on Bloomberg Television from 6 00 a. M. Hong kong time. The Crown Resources soaring more than 13 in sydney after sources tell bloomberg that packer is in talks to take some crown casino assets off the market. There consolidated press holdings have been speaking to private equity firms and Pension Funding about a possible joint binned. Joint bid. Prada shares plunging. Milliont income was 51 in the weakest luxury good market in six years. The retail segment showing the greatest growth. Enjoying aalibaba boost, teaming up to sell films and programming to chinese viewers. The Web Streaming Services available on their website for 125. Allows users to access content asm disney and pixar as well plan visits to Hong Kong Disneyland and the Shanghai Disney resort. It is the happiest place on earth but the markets apparently good withhave been asiahit the markets in are going great, a much better picture as a gay closer to that important fed meeting in that decision. Muchtors seem to be pretty confident. Very strong gains coming out of tokyo, a. 2. 5 . Theghai and hong kong at lunchtime bring up your related the hang seng index, up by 2. 25 . We have seen valuations come down quite significantly. They are among the cheapest in the world right now. Strong gains coming out of southeast asia. Sydney up by 2 two and 3 10 of 1 . And energy. Ining we are counting down to the reopening in hong kong and china at the top of the hour. Apple has opened a Production Lab antiwant to focus on display technology. He went into the laboratory in person, what did you see . Tim thats right. I went out there. What i can tell you it is a very nondescript unless you know with apple, there is no way you would discover it on your own. It is a lab that was previously owned by qualcomm. It doesnt look like much at all. There is no signage that really indicates who resides inside. After you go across the driveway end up to the stairs and inside to the reception where you see the apple logo, at that point you realize that it belongs to apple. At the reception desk, they will not talk and refuse entry and you really need to make an appointment to go any further. They would not give out details of who the person in charge would be or how the best way to make contact with the company would be. They are very secretive. People in and around the facility that i spoke to all basically declined to comment and would not talk about it. They said is very secret and they are not allowed to talk about it at all. Very much a veil of secrecy around the whole facility. That is in keeping with apple. Emily you believe that they are working on new screens, inside this lab, thinner, lighter, better, more energyefficient screens, what do you think is actually happening inside . Tim the information that i received from various sources indicate that it is basically a Production Lab. They do have production facilities inside, but this is not necessarily for. As production, but more like test production. They are developing a screen, it is a very thin device. The screen itself or an iphone. The production process is fundamentally important to the way the whole thing is the together. As you develop the technology, developing how to actually make it is crucially important. That is what theyre working on. There are developments on current level types of screens, such as lcd, the dominant technology at the moment globally. As well as moving into a different zone out. That is something they are very interested in working on more. Emily led versus oled, supposedly more energyefficient. Thank you tim colson, in taipei. Well watch to see what happens with this secret, not the secret lab. Turning to the Energy Sector where many are claiming that the era of carbon reduction has arrived. A Landmark International Climate Change agreement was reached on saturday it is prompting investors to shift portfolios from coal and Oil Investments to a noble energy like wind and solar. Sunpower is the second biggest u. S. Ceo tom werner is here to discuss with me. A huge milestone in paris. I want to talk about that. What are the tangible benefits there are two sunpower . Tom a huge deal. We are at the beginning of a complete shift in the world the way gets energy. The tangible benefit is 195 countries said we are going to go to lower carbon sources of energy. They said every five years they will report how they are doing. It seems that youll be hard to come back in five years and say, we are not doing much. Solar is clearly going to benefit because costs have come down so much. We are a low Carbon Energy source. It is really a big over solar. Emily even with oil being as low as it is, in the last few days, have you seen a change in appetite from customers . Is it from households or commercial . Tom the big driver here is the international nature. When hundred 95 countries. Emily you have not seen a change . Tom we are seeing a change in india and africa. Policy changed a lot. Financing is difficult. We are seeing policy coming together and having it is more of an international thing. In america, more about investment tax credits. It is different in different parts of the world. Emily you wrote an oped saying that Climate Change is not an ideological debate, it makes Good Business sense. How so . Tom we are in america. We innovate. Here is a problem, and rather than a problem, it is an opportunity. Companies like sunpower, in Silicon Valley, can innovate and provide solutions. We are economic, carbon free, and it works. It is low risk and easy to install. Fast energy. This is what america does. We innovate when there are problems. I think this is a huge catalyst for innovation. Emily your Parent Company is a Global Oil Company and based in paris. Did you meet with them while you were there . Are they committed to alternative energy . Are they please with your progress . Tom it is a business. It is oil, gas, and solar. What they want to do is offer customers a choice. You can get oil, gas, or seller and you can get it all canonically. They are dead serious. Theyre good at managing their investments. I can assure you. This is about business and they are doing a really good job helping us. There is a halo effect on the balance sheet. They are a huge asset. They manage their business very effectively. Emily did you speak with them yet . Tom yes. Emily what is their feedback on how you guys are doing . Tom smart growth. What countries do you enter . How do you help and how can you do in a smart way . For example, india, we are in china. We partnered with apple and china. They like that. They want smart growth. They want a benefit to both countries. Very serious that have a run their businesses. This is about smart growth and how they can help. Emily you mentioned china. Solar power makers in china are planning to increase their capacity. Any concern of another glut of supply . Tom i dont know if its about solar panels anymore. Yes, therell be a tremendous amount of supply. Emily too much supply . Tom probably. It will either be too little or too much. Soft costs, customer satisfaction, adding other features, storage, energy management, complete solutions, that is yesterdays game. Tomorrows game is how the offer complete solutions. Emily will that affect your expansion plans in china . Tom it will affect where we choose to invest. We are still investing aggressively. Short answer, no. Longerterm, yes. The game is played in integration, storage, energy management, we are shifting investment that way. Emily and the u. S. , talk of extending tax credits which are very important for your business. They are set to expire in 2016. Clean Energy Stocks are up what is your view on whether this will happen . Tom no idea. Emily no idea. If it is not extended, how big of a blow is that . Tom a big blow. To a policy that is 30 of the tax credit to go away instantly is clearly going to be a substantial disruption in the way that business is run. We are already seeing a long business cycle. The big solar filter are using an impact. Will it matter . A huge deal. I can predict. Emily here in california, the state wants 50 of electric to be from renewables by 2030. Are you see more demand . Tom absolutely. What california has done is they had the Million Roofs Initiative and they had the California Solar Initiative which is 30 play percent, 30 , than 50 . Utilities have to implement were noble energy and solar is the most costeffective renewable energy. We went big. We dont win all the time. The others do well. Its a huge deal. We can take lowercost solutions and be a better solution not only here but elsewhere. Emily also today, California Public Utilities Commission proposed a successor to the net metering program. People are essentially payback for the solar power that they produce. The utilities have been saying that they want this to be cheaper, essentially for them. Do think the proposal today is a good deal . Tom a great deal. California is a superb solar market for the foreseeable future. Is a great deal for customers. Not just the solar industry. I think the utilities will do fine. Utilities know that the generation is going to change. Utilities are becoming more strong and smart distribution and balancing the grade. I think the utilities, when you think longerterm, it will be a good deal. Emily what will 2016 beaver solar power . They are of . Tom fear of Solar Energy Companies becoming Energy Companies as we mainstream solar, we need to solve more than just how to generate energy. We need Storage Energy management. It will be a pivot year going from just solar to being an energy company. Emily sunpower ceo tom werner, thank you for stopping by. Big news. Tom i appreciate very much. Emily from Silicon Valley to silicon we will not an Israeli Company looking to disrupt the way that printed Circuit Boards are made. Emily at the heart of every electronic device. Yet, the wasted printed Circuit Boards are made has not changed in decades. Enter a starter, nana dimension. Looking to disrupt the market with an allnew 3d printer. When we look at the printer, we do want it to be essentially a lamborghini. We need all kinds of others. We started online we have the access to the right people in order to do something to make a difference. What we do is offering Electronics Engineers a solution of a printer and that allows them to print inhouse pcbs which are printed Circuit Boards. They are at the heart of every electronic device. The time that it takes to prototype a pcb could take weeks. Without a 3d printer, engineers can print within hours in a confidential way without sending out their designs. This device there are other 3d printers. In our case, is it the differentiation is in the materials. We have a conductive. In the future, what we are hoping to gain is nanocopper which will change the way in which pcb is made. We chose to go a reverse way because we needed to go fast and we were able to get that first money from private investors who supported that. From there, it was up to us. The process to the nasdaq does not involve an iep oh ipo. Emily now, Nano Dimension is an israeli startup. We know most startups fail. What will be the biggest challenge for this Company Going forward . Some of the challenges will be familiar to startups in Silicon Valley. They need the right funding and to continue to get the funding to develop their product. They need to produce and distribute it. They want to uplift to nasdaq. It is possible that nasdaq will say no. A rival could come along with Better Technology that would leave them in the dust. I suppose one of the key things for Nano Dimension is making sure that the printer actually works. There is no room for error. An needs to work. If it doesnt work, game over. Emily they say the printer is unique, the ceo talks about this in the report. I called him today. It was a bit unclear. He says the investors wanted the company to go by a reverse merger because they wanted it to be traded quickly so they can have a liquid investment. The fastest way to get a listing is via a reverse merger. There are other advantages. The main one is for the founders perspective, they get to hold on to mark the company. They may have had to relinquish more control. Also, there was a bit of a gamble, but if they met their milestones, it would enable them to raise funds more easily. In the past year, they raised shy of play my dollars. Emily why do more started to do this . An excellent question. One reason is that most startups go down a traditional route. They go to venture capitalists. They get advice. It is almost as valuable are more valuable than the money. Mainly, because reverse mergers, they have a bad rep. In the 1980s, they were pump and dump schemes. This decade, there are a number of Chinese Companies that listed in this way in the United States and some of them got busted by the fcc. I dont think it necessarily works for everyone. We probably wont see many startups listing via reverse mergers, but they can get financing. Emily thank you so much. Great to have you here. Coming up, the Company Behind an infamous billboard in San Francisco is calling out marissa mayer, joining us next for a status update. Emily remember this billboard . After Ceo Marissa Mayer called for an end to working from home, Videoconferencing Company blue jeans but at this billboard in california saying collis, marissa. It could be an inside joke, but it is funny. With me for an update, blue jeans founder and ceo. Thank you for joining us. Did she ever call . She could have called, she should have called. Emily why . Working from home is not the problem. This is a global workforce. The workforce is global. Collaboration is the way to innovation. Emily you guys are a Collaboration Company and cisco just rated their entire collaboration platform making it easier for Different Companies to use their software and their tools what is your response to that . It is exploding. It is shaking up the industry. That is why we hired he is from citric to take our company. We pioneered cloudbased video. Emily this is your new president. What you offer that cisco doesnt . We offer cloudbased, Video Solutions from that can be used from anywhere and any device. Extremely simple to use. Not only that, but videoconferencing. We have found new capabilities for video. We partner with derek jeter. That is taking video from businesses to a fan experience. Derek jeter put out the retirement announcement during prime time. For the first time, Sports Writers and fans are able to interact in real time with a celebrity and ask questions. That is how we are changing the game on video. Emily what you think of startups like slack and companies that are trying to its free. And its easy to use. Is that a threat to our business . Easy to use as the name of the game. For our product is extremely simple to do. Slack is similar. We partner with them to be able to launch video from a slack platform. Slack and blue jeans came together. Messaging products and realtime collaboration product, both of them together may collaboration fun worldwide, instant, and easy to use. Emily what will be the big theme in collaboration of videoconferencing and 2016 . The biggest theme will be messaging and video. It will be global. We are going to get consumers and Business Users to use video all the time. It will replace when we as telephones. For instance, we offer face timetype experience at work. That is the type of thing. The experience will change the game. That is what we are working on. That is what the new president that is the only responsibility. To delight the user. Emily maybe marissa will give you a call after today. Thank you so much for joining us. That does it for this edition of bloomberg west. Tomorrow, i will sit down with slack ceo, stewart butterfield. You can watch us at bloomberg. Com. The following is a paid presentation for byebye foundation. Imagine having skin that looks this beautiful and flawless without having to wear foundation. Imagine a product that covers everything, but looks and feels like you are wearing nothing. Imagine one product that will make your skin younger looking in just 10