Resurging cases of covid19 could impact. The concerns about new cases seem to win out. There is a tension between the good and bad news of the jobs report and the sense that things will in prove improve more quickly. Nonetheless, a very good report. On their hand, the virus data means hotspots are worsening with the end of the day well off the highs. Thenasdaq had been up on close of. 5 . Stocks,g index and chip and remember, this year thats the new defense. These were the stocks really used for the stayathome trend, so strength there almost indicates that some folks think theres going to be more stayathome action ahead. Confirming there was a rally for bonds up a little bit with that yield going down. Stock that was noticeably the last five or days around these Companies Boycotting the platform for advertising, facebook is down 2 . There was the headline that Mark Zuckerberg is going to be meeting with some of the folks behind the boycott, perhaps trying to have a instructive conversation. But right now, facebook is relatively down to a large. Egree emily Mark Zuckerberg planning to meet with civil rights leaders on tuesday. Sources tell me they are not planning for this boycott to end anytime soon. They could feel the effects of this for much longer. In the meantime, we are getting new numbers out of texas cases in texas exceeding the one week average. Meantime, i know you have also sharplyking at tesla, higher after delivery numbers hit a pretty big number. Its really interesting. It doesnt quite make sense to be relative to the pandemic and you are talking about these worsening numbers. The secondative to quarter that ended just a couple of days ago. They delivered almost 91,000 vehicles in the last quarter. It is astonishing considering much of the country was shut down and not driving at all. There was pentup demand for these vehicles. Production was down, but what is really amazing is take a look at this chart out of control, up 189 . Parabolic uptrend after parabolic uptrend. The elon musk factor seems to be behind some of the stocks we were talking about how the market cap is bigger than toyotas, but toyotas failures work the sales of tesla so they are giving a much bigger evaluation. Tesla is doing quite well in this unusual year of 2020. Thanks so much for breaking it down. Staying on the topic of jobs, our next guest is the director of Talent Acquisition at an Esports Company that offers a legitimate official platform for High School College gaming. He worked in various senior recruiting roles at facebook and airbnb. Thank you for joining us. Digging into the job numbers further, what is the picture you are seeing across the country as we see some jobs coming back but not necessarily new jobs, just jobs that had already been lost. Thank you for that overview. From my perspective i see a continued decrease on the on to viewnt rate we have it optimistically. We arehis as a positive still above the prepandemic numbers and we have a lot of work to do. People i know on my personal network have now started to get roles and i could see that continuing to increase the next quarter. That said, cases are resurging across the country and if there is one thing ahead, it is more uncertainty. How do you think that impacts the job market in the short term . On companies, there need to be in specific places that levelu. S. There of responsibility that has been court to how they operate shifting that strategy upfront and thinking about increased numbers of contractors and just being very strategic about our hiring plan. Again, continuing to attack the number. Wonder what this means for contractors right now. They seem to be feeling the uncertainty the most. I wouldnt say that. I would say all contractors and fulltime employees. If you looked at march, there are a number of talented individuals who lost their jobs. Across the board, there is a very uncertain time and whether it is everybody doing the best they can to attract the talent that we do have. Emily in the meantime, you really focused in diversity in a number of the roles you have. Im curious how you think diversity will be impacted at this time. Justompanies that are trying to stay afloat thinking about representation in their workforce . On the other hand, you have momentum from the black lives Matter Movement and new commitment from ceos to do better. Absolutely. And i dont think the pandemic is any excuse at this time. There has to be diverse focused in every situation. Biggest problem ethan problem people often share is that these positions do not exist, but that is a falsehood. There are a lot of organizations. Ut there that can help you that, once you do find them you need to focus behind your strategic cloud, hiring them and retaining them and then promote them. That is the way of candidate identification and retention. Emily i know this has been hard on everyone that has been really hard on working parents. It seems like there is a push for schools to reopen that it really will. To the there is a push for schools to reopen and in really well. And it really will. I am a classic example. I had to ask my mom to hold my son so he would not run inside. We asre importantly, parents and executives have to topdown be comfortable with having those kinds of thatruptions and trusting while we are sheltering in place and getting our jobs done we are being effective and having meetings. Longterm our shift in the way we operated prior to covid is going to change tremendously their does still need to be a worklife balance and the focus is still on family i get to spend time with my son, he gives people comfort who are in the levels and it is not reflected poorly on them. Is a Company Culture we have here and that every other should have as well. Runs a highfirst and imsports platform curious if you can tell us a little bit about demand. Swapped tos have esports with the freeze on andessional and live sports im curious given so me children quarantined it home how that has impacted things. Yes. People are at home and able to play but we are gearing up for and we are allowing for people to play from home. Versus. Com. To play number of offerings and importantly we are Building Community through these platforms not just win or loss. That is the focus we have and we hope everybody who is watching will go and take a look for themselves. Emily thank you so much, charles. Thank you so much for joining us. Really interesting to have your perspective here today. One. U have a good emily thank you. Coming up, dealmaking talks between uber and postmates have gotten tense. Should postmates considered selling tuber or an ipo . Ipo . Er or an bloomberg. Vered emily postmates is planning to file for an ipo according to a report from foxbusiness amidst deals talks with uber. Deals and talks have gotten tense and things are up in the air. Second chance of revising or adding to its uber eats unit in a consolidating industry. For more, i want to bring in a Bloomberg Opinion columnist covers technology for us. What is your take on the way this is going . Should they be pursuing postmates at this price . I think so, i dont think they really have a choice they really need to get a deal done. Since it is a european supplier, it doesnt really fix the problem of the european delivery space so they really need to get it done. The Food Industry as a whole has pursued this growth at all cost strategy and the problem is that results in massive losses for everyone in aggregate. Uber eats was losing 300 million per quarter and so we cant just continue this massive cash burn. There needs to be consolidation server really needs to get this deal done. Postmates is also burning cash and critics say it would only expand ubers footprint. Is it worth it . So there will be able and promotional eyes. They really need to get that down from four players to three. Eventually i think it will go the way of the ridesharing market you have all of these different startup and then to players that can both be profitable. The market does needed to consolidate their do think it is worth it. Emily you have got doordash, the juggernaut here in the United States what is postmates best option . Pandemicddle of the month suddenly their business looks better and do they pursue an ipo instead . It totally depends on what they think they can put out on the markets and what uber is going to pay for. Ipo, it if they do an doesnt fix the problem of too many players in the market. Though the whole Delivery Market is taking off and is a big beneficiary of the pandemic, Morgan Stanley says it will be up for Percentage Points , the cost structure is still out of whack. Consolidation has happened at a certain point. Its just not sustainable. Emily i appreciate your analysis. Thank you for stopping by your we will continue to follow the talks. By. We will continue to follow the talks. Continue after cases top one million globally. We speak to the ceo of a Pharmaceutical Company working on its own vaccine candidate next next. This is bloomberg. Emily welcome back to Bloomberg Technology. I am emily chang in san francisco. Turning now to the race to fight covid19. A guest from John Hopkins University joined us earlier to talk about the surge in cases. I think the most important thing we can do today is continue to encourage the public to physically distance and to wear masks. A lot of the research is showing that is working and so we have to be vigilant. We all want to move towards reopening, but looking at the case count growing across the United States, i think it is absently critical to maintain that basic intervention. Backtoschool shopping begins in 42 days. Are we going to go back to school . What does the pandemic due to the classroom of elementary schools, middle schools, and those diseasewritten seniors in diseaseridden seniors in high school. Everybody wants to go to school, theres a lot more work and research we need on how kids transmit the virus. There is a lot more planning on how to get kids safely into the classroom and also how you can teach the family how you can keep the family of teachers safe. To have to keep you have figure out ways to keep them as safe as possible. It may mean increased testing of kids going back to School Better access to testing more broadly for their families, for their teachers and administrators in the school, everyone involved in the process. What do you think will be the process when somebody in chemistry class in the 10th grade gets the virus or their father gets the virus. How are we going to do that . Its going to be very hard. Access to testing remains so critical to all of these reopening strategies. Schools arent immune to that just because it seems like kids get less sick or transmit less. There is still a risk. Schoolhave someone at a who has a symptomatically member, then you backtrack. We do the things we know work. Identify the kid, pull them out of school, do Contact Tracing and Symptom Monitoring on those who came into contact. It is hard work and the only option we have right now, those basic Public Health interventions. Francine how do we encourage or force people to wear a mask . Wearing a mask is quite divisive right now and it is very challenging. It something we have been doing a lot of work on. It is a basic intervention, it is safe. We are seeing data that it works. In the early outbreak, there was a lot of mixed messaging because we did not have enough masks for health care workers, we did not know if people could use them safely and we had not educated the public on how to wear them. A lot of people, myself included, were very skeptical on their utility. We have seen data that shows they are effective in keeping ourselves and others safe. The message is my mask is for you and your mask is for me and if we all wear masks we can get through it a lot more safely and with fewer deaths. Emily turning to the race for a vaccine, we have got the ceo and pharmaceuticals which is working to manufacture a vaccine for clinical supply. You so much for joining us. Talk to us about the latest in your request or a vaccine. For a vaccine. Where do things stand in the broader backdrop . Thank you for having me on, emily. We are all in a rush. Are pushing forward on our vaccine which is on a relatively unique platform and we are headed towards Animal Studies this year hopefully with a vaccine to test the humans test on humans next year. When we will we have . Hen will we have a vaccine there will likely be more vaccines in 2021, but the first and fastest is not necessarily availability of a vaccine will take it while will take it while to figure out people really want to take. The first vaccines make tech people for a short time, but longterm, we want a vaccine that provides durable immunity and ultimately prevents what is called former transmission, which is how contagious someone is if they do get infected. Emily meantime, you have got so many Different Companies racing to the finish line here. What is the value of a pharmaceutical horserace . Theres a lot of value. We dont really know which vaccine will be best. There is a lot of uncharted territory with this virus. This unprecedented effort and this diversity of approaches is really welcome because everyone is learning very quickly about the virus, and by having a , i think we vaccine have a better opportunity. Situation where certain vaccines are better for some people and others are better for others so i think that is another important aspect of thef the diversity vaccines being developed. Lederman, ceo of tonix pharmaceuticals, thanks for stabbing by stopping by. A myriad of entrepreneurs. How will a recent white house ban on skilled worker visas in the u. S. Impact the tech economy . We discuss next. Emily welcome back. Im emily chang in san francisco. The latest research has found almost 400,000 temporary visa holders and green card applicants have been affected by president trumps latest executive order barring them from entering the country until next year. A majority of these are tech employees in Silicon Valley who dont know when they can return to see their families in the United States. Joining us on how this affects the Tech Industry thank you so much for joining us. You are an immigrant yourself, and i know you have strong feelings about this. How do you think business will impact the tech economy . First of all, thank you for having me. I will start by saying this is deeply personal to me. I am an immigrant myself. I came 20 years ago from canada. Family came to canada from east africa, and before that our ancestors moved to east africa from india. Immigration has been a part of our fabric. But 20 years in the United States, i have been on every single visa you can imagine. I have been an engineer, a product manager, and now an investor. Me and my wife actually became citizens four weeks ago. It is troubling to see what happened to thousands of people who had immediately been affected and those who will be affected later on. Worlde offices around the. A lot of us are also immigrants, either children of immigrants or immigrants ourselves hailing from places around the world like india, china, united kingdom, etc. This strikes at the heart of what we do. Lightspeed, over the last two decades, we have a strong track record of having back to many immigrants who came to the u. S. Either as part of their studies or searching for a new job, and then started their own companies. Those Companies Across lightspeeds portfolio have jobs in the United States and around the world. I believe this policy is shortsighted. It will stifle innovation. It will hurt us on a global stage longterm. If you look at some of the track records of people who we have backed over the years, people who came here from india as an immigrant, worked at oracle, started a 5 billion enterprise infrastructure company, starting on my end that, paypal starting a firm, and before that, paypal. And some who came from israel, started a Corporate Travel uniform that employs hundreds of people in the United States. It is devastating to see what will happen over the longterm. There are a lot of studies that show that people who come here have a higher propensity to Start Companies and those companies eventually employ a lot of american. Americans. Emily the list is long. In the meantime, business goes on. I know that you have been focused on advising companies about how to deal with so much uncertainty ahead. We were just talking about postmates earlier in the show do they go public at this time, uber . They sell to you have a Company Facing critical, longterm decisions here. How do you think companies should be approaching this . Arif there is a lot happening in the world right now, covid, immigration, a potential economic downturn. Companies should be thinking longterm, not shortterm, but also really thinking about how they can manage their shortterm casualties and balance that against coming out of a potential downturn much stronger. From our portfolio perspective, we have spending a we have been spending a lot of time with our portfolio founders, maximizing cash runway, making sure they have enough cash for at least the next two years, how they are thinking logically about hiring, about road over the next growth over the next few quarters and the next year, and how they invest in technology so that when we do come out of this uncertainty, they are stronger, much more efficient, and much better capitalized to take advantage of the eventual recovery when it does happen. Emily meantime, talk to us about where you are most optimistic about seeing growth. Obviously, lightspeed has both a large enterprise and a consumer portfolio. I know you are an investor in cameo, which has taken off during the pandemic. But you wor