Services. First, highlights from the Bloomberg Global business forum, a gathering of more than 50 heads of state and hundreds of global ceos addressing Economic Growth and prosperity. Lets begin with jack ma. Alibaba has seen massive growth this year. Stock easily outpacing other tech giants, and amazon, thanks to sales in china. Here is what he had to say between the comparison between alibaba and amazon. Jack amazon is an Ecommerce Company and very successful and we respect a lot, but alibaba is not an Ecommerce Company. We are an ecommerce enabler, infrastructure builder. As i said, people may not like it, our job is to enable more companies to become amazon. We see amazon is doing a good job, successful. We are telling everybody, you know, ecommerce works. We are not necessarily competing, but investors like to put them as competitors. I spent very little time very little time, how we compete with amazon. How we can learn from amazon to be more efficient. On internet time. Emily you have been investing in groceries for a long time. I am curious where you see similarities and differences in your strategy. Jack in china, and the past 15 years, we grow so fast on retail. A lot of people say, you destroyed traditional retail. The question we started thinking about five years ago, destroying retail is not our purpose. Our vision is helping do business easier. We cannot help the new retailer destroy the old retailer. We say, how can we use our technology, data, market power to help in the traditional retail. It is not about destroying them. We want to enable them. That is why we invest and by a lot of traditional supermarkets, malls. We want to learn and help. This is opportunity. Emily alibaba is trying to get approval for the moneygram acquisition. A u. S. Money transfer company. What is plan b . Jack i honestly, i left this job to do that. Today, i cannot make comment. They are applying for the third time. I cannot make a comment about that. I trust the world is going to be more openminded, and globalization should not stop it. Protectionism will stop. It takes time for a Chinese Company and the American Government to communicate. Emily you said alibaba will create a million jobs in the u. S. By 2021. Tell us more. How many job so far, what kinds of jobs . Jack in five years, we start we create one million jobs. We want to enable more Small Business in america to sell products to china, asia. Which we are pretty good at. We think in china we created 33 million jobs. Each business, if online, and they can create new jobs. We hope we can help one million Small Businesses. In america, they can and list on alibabas site. We can help them sell to asia, to china. We had a successful detroit conference. We started testing and will gear up next year. Emily you have said alibaba has a 3, 5, and 10 year plan. What are those plans . Jack we are working on that. In five years, the direction, the strategy direction. In 10 years, the vision. We always have to think about the future. Since 1999 when i started the business, doing business on ecommerce is like a marathon. We should run as fast as a rabbit and had the pace of a turtle. We have to be very patient. You have to think big things for the future. Otherwise, you have so many problems. Emily 2101 is your plan . Why . Jack in 102 years we will cross three centuries. The more equity you are, the more serious you are. Your employees, colleagues, friends, will take it seriously. My conversation there with jack ma. There was a Powerhouse Panel at the Global Business forum. David rubenstein sat down with bill gates, the pepsico ceo, and softbank. The topic question mark what else, innovation. The last 30 years, the innovation of the microprocessor, using it as a base to create internet. That has changed the lives of almost everybody on the earth. Going forward, i think it is accelerating even more. David earlier in your career, you were a technology innovator. At one point, in 2000, you lost 70 billion of net worth. What did feel like . It was a crash. Everybody crashed. [laughter] somehow, at the bottom of the crash, i actually revived my spirit of fighting. Actually, it felt good. [laughter] by the way, for three days, i became richer than bill. [laughter] 12 months later, i became almost broke. [laughter] 99 drop in the share price. In one year. David let me ask you a question about your career. At one point, you made a investment of 20 million in alibaba. It became worth 90 billion now worth 130 billion. How did you decide it was a good investment . Do you have any more like that you can recommend . [laughter] jack ma, not because of the business model, not because of the technology. It is because of his charisma and leadership. China had enormous opportunity on the upside. I said, this is a guy that can be the leader for this innovation. David you have tried to take a company that was known for selling sugar water and make it a more nutritionally safe and better company. Was that hard to beat the bureaucracy back at pepsi when many people didnt want to do the things he wanted . It was hard within and outside the company. Even investors were telling me, dont forget, we americans we like soda and chips, dont try to change us. When i asked them if they change their habits they said, oh yes, we changed our habits but we dont want you to change what you are doing. We had to fight across multiple fronts. Change does not happen quickly in our industries. We have to change consumer tastes, portfolio, business system. It is still happening. It is a work in process. David when you go to summers house for dinner and they say, would you like coke, what do you say . [laughter] has that ever happened . I say, it was nice knowing you, and i leave. [laughter] i do leave. Without a doubt. [laughter] actually, my secretary sends the list ahead of time. In case there is a mistake. David i would like to ask a question, but people are interested in this, people are used to turning personal computers on. We have to have Three Fingers to do so. Control, alt, delete. It is awkward to do that. You are the person who came up with that idea. Why did you do that . [laughter] bill the ibm pc hardware keyboard only had one way it could get a guaranteed interrupt generated, so clearly the people involved should have put another key on in order to make that work. A lot of machines these days have that more obvious function. David no regrets about doing it that way . It worked out ok . Bill im not sure you can go back and change small things in your life without putting other things that risk. If i could make one small edit, i would make that a single key operation. David by the way, you dropped out of college. Do you think, had you got your degree, your life would have been better off . [laughter] bill at the time, it felt like there was a huge sense of urgency that the microprocessor was revolutionary and writing software for it, a lot of existing companies, including ibm, would go on to do that. If we were to have any hope, the sooner we did it, the more hardcore we were about it. I did not want to waste a day. In my 20s, i worked weekends, didnt believe in vacation. We had to move at high speed, because eventually, ibm did come in and compete with us. Lots of companies came along later. Of the companies that were formed in that period, we were the sole survivor. Oracle did another type of software. They are vintage as a software company. Those are the only two companies that survived out of that era. Of, because we were a Broad Product company. We did platforms. We were very international. It would have been hard to hold me back after i saw the opportunity. Harvard, which i loved, was a very relaxing were you would sit in classes and stay up all night and talk to people. It didnt have that same intensity. After i saw the opportunity, i was going to leave. David your parents, what did they say . They said, we were paying your tuition, what does this mean . I said, i am on leave. I could have gone back. Harvard was generous about that. The course catalog changed on you and you are too old for it. They werent sure if it would succeed or not, so they thought maybe i would head back. Because i was single and maniacal in those days, it was a perfect thing for me. Emily that was david rubenstein. Google has agreed to buy parts hdcs design team in a deal. It helps boost its growing hardware business by owning a manufacturer outright loathing google gains tighter control over production of its smartphone and other devices. Coming up, more coverage from bloombergs Global Business forum. Apple ceo, tim cook explains why he stepped up his rhetoric on immigration policy. This is bloomberg. Emily John Chambers is stepping down from the board after 24 years. Chuck robbins has been ceo since 2015 and will take on the role of executive chairman. The change gives a robbins more control to steer cisco away from reliance on hardware. Which provides most of its revenue. Lets return to bloombergs Global Business forum. Tim cook outspoken on his views on immigration told bloomberg why he believes it is the Biggest Issue of our time. Tim we are pushing extremely hard on this. I think it is the Biggest Issue of our time, currently, among all these big issues. Because this goes to the values of being american. This is, are we human . Are we acting with, in a track of morality . These people, if you havent met them, at apple we have many that came to the u. S. When they were two years old. They didnt exactly make a decision to come. They came here, they only know our country. This is their home. They love america deeply. When you talk to them, i wish everyone in america loved america this much. They have jobs, pay taxes, are pillars of their communities. They are incredible people, and so, to me, it would be like somebody coming to mike and say, mike, i just found out you are not a citizen here and you need to leave. This is not who we are as a country. Im personally shocked that there is even a discussion of this. This is one of those things where it is so clear. And it is not a political thing. I dont see it like that. This is about basic Human Dignity and respect. It is that simple and straightforward. On the broader subject of immigration, if i were a country leader, my goal would be to monopolize the worlds talent. I would want every smart person coming to my country, because smart people create jobs. Jobs is the ultimate thing that creates a great environment and country. A land of opportunity, a land where everybody can do well if you work hard. These are the things that drive people, gives people a sense of purpose. I would have a very aggressive plan, not just to let a few people in. I would be recruiting. I went to ellis island on sunday, because i wanted to feel myself what it was like to come to the country. If you have ever sat in the great hall, one of the benches that was there in the early 1900s, you can feel the people in that room. You can feel both the anxiety and the hope. That is where we all started from. Maybe not ellis island. Maybe was virginia, like my family, but we all started somewhere. We are all descendents of immigrants in the united states. Emily that was tim cook speaking with michael bloomberg. The founder and majority owner of bloomberg lp, the parent of bloomberg news. Coming up, she is the most powerful regulator in europe. Slapping fines against apple, facebook, and a record penalty on google. We will hear from margrethe vestager. Later, the biggest cities are vying to be the second location for amazon headquarters. Which locales are at the top of the list . This is bloomberg. Emily uber is suing fletch media. For fraud. It is depends fourthlargest advertising company. As part of a lawsuit, uber plans to seek 40 Million Dollars in damages. After record fine from the e. U. , google is figuring out how to comply with an order to stop promoting its own shopping search results over competitors. While the clock ticks down, we sat down with margrethe vestager. In washington, to discuss the case. Margrethe we have found google is dominant in the European Market of search and have been misusing this very strong position to promote itself with the google shopping product and on average, you find competitors on page four in search results. You are always finding google shopping in the best placement. You have to apply a principal of equal treatment. Between google and competitors because your dominant. Now it is up to google to figure out how to do this, because this is the only way to make a remedy future proof, because screen sizes will change, everything will change. We still need this to be adhered to. It remains to be seen how google will live up to this. Reporter google is proposing an auction that would sell space to rivals. It is something they proposed in 2013. Can you confirm that is the case . Margrethe yes. We got a first draft of what they were thinking about two weeks ago. We got a broad outline about what they are thinking, but the thing is that it is not for us to prove. It is for google to find a way to live up to the decision. This is important, because if google does not live up to the decision, then we will start investigating, what is the situation . Is competition still harmed so consumers have less choice . Reporter if come the deadline, when does finding start . When do you begin to speculate and assess fines against a google . We can backdate the fines. Obviously, if we find market competitors complain, consumers complain, saying this is not what it was supposed to be, if we find reason we will start investigating and then we can predate the fines if we find there is a breach of following up on the decision. Reporter how close are you to resolution on the android case . Margrethe they are very different, the two cases. One case involves placement of ads on thirdparty sites and whether or not that market was foreclosed. The android case is how android is used to stay dominant. Also when we all go mobile. The experience from the box when you opened the box of your phone is the google experience. We treat those cases as highpriority cases, but it is very difficult to say when we will be will to have a final decision. Reporter are those proceedings proceeding in tandem . Margrethe we have two case teams. I dont know if they are competing, but we put a lot of effort into this, because it is important for all Market Participants to know what will be the final decision. Reporter a couple months ago, we spoke with the head of expedia. He is now at uber. He was expressing concern about google with regard to travel. When you look at the mammoth apparatus that is google, are there other parts of the business that concern you or might lead to an investigation . Margrethe we have quite a lot of complaints on other verticals. The thing is, with the google shopping decision, having established google is dominant in general search, and when a company is dominant, competition is already weakened a little. If you hold 90 of the market. This is where this special responsibility comes from, that you shouldnt misuse your power. In your own market or neighboring markets. This gives us another starting point looking at travel or locals. In that respect, yes, we still take a strong interest in google behavior in these other markets. Emily coming up, after going for almost a new device, nest is rolling out new products. We will look at the items and speak with the companys ceo. About what is ahead. A reminder, all episodes of Bloomberg Technology are Live Streaming on twitter. Check us out. This is bloomberg. Emily welcome back. Im emily chang. Nest is known for its cameras that can be set up in the home and watched from anywhere. Now it is rolling out new devices from doorbell cameras and a new Security Camera and systems with a slew of bells and whistles. Mark gurman got his hand on some of the new devices. Check them out. Mark this is Product Launch number three for 2017 for alphabets nest. After introducing a cheaper thermostat and a four k Security Camera, now they are taking on the Home Security ecosystem in a big way with four new products. The first is a doorbell called nest hello. It uses your existing doorbell system but it adds a camera you can record it from your front door. It has come up with a digital door wall. It may not have much unique functionality, but it looks like a nest product with sleek design and productivity of a nest devices. Number three, the new outdoor Security Camera. It can withstand weather. The most significant new device launched is the nest secure. It comes with three main pieces. A main hub with speaker and pin pad, window and door sensors, and key fob. It is a complete doityourself kit. You can install the 500 device without needing expert help. If you want to fork out more, you can have it monitored for monthly fee. On the software side, nest is turning some of its cameras into mini google phones by adding google assistance support the us software. None of nests new products with the bar forward for the industry. These are all concepts that are not only been tried before but executed successfully. But still it is critical for the alphabets unit to continue releasing products so customers will remain in the ecosystem and so nest can keep selling them subscriptions on a monthly basis. Mark gurman, bloomberg news, san francisco. Emily on the product releases i caught up with the nest ceo for exclusive interview and discussed how he planned to grow the company. Marwan its not just about the product. It is about the whole ecosystem. The ecosystem, the software behind it, the integrations with other devices in the home. For example our cameras. Every product we build will work closely with any other product weve had in the past. We want to make sure they talk to each other and make sure they are a seamless experience, as well as installation and maintenance of the products. The right experience for our customers. That takes a while. Emily you took over for tony fidel. How are you similar and different . Marwan we had different backgrounds. Mine is mostly the Service Provider backgroun