Role in the Vaccine Technology process. Plus a new wave of restrictions across the country, california now mandating a 10 00 curfew, we will get a sneak peek of with ans studio 1. 0 update on the health of american Small Business. Is recoveringsk from covid19 himself, tesla shares improved. They are the peak of good health, shares advancing 21 this week, the company now worth 470 billion. The stories in a moment but first the market picture, Abigail Doolittle with me now and i know youve got tesla on your radar, but first modest moves in the market overall today, walk us through the trade on the back of this positive vaccine news. Abigail todays trading action was very similar to the other days this week and that is to say choppy. We started off with small moves into the close more modest moves as you were mentioning. That is pretty similar to what has happened all week and it is interesting, the vaccine news seems to be getting factored in less and less, two weeks ago when it first came out with pfizer, we had a huge rally, monday we had a piece indeed pretty decent rally and today that was not the case for the s p 500. On the other hand you did on the weekend the nasdaq and the index eating out a gang. After the close and i dont think this is weighing on markets, but yesterday there was the small spat between the fed and treasury over the returning of funds, fed chair jay powell put out a letter saying the fed was prepared or is going to return those funds. One of the experts on one of our other shows today was saying those emergency funds are there were going to be return were not even reused used anyway. As for tesla, this is the reason we had the nasdaq index higher, the 20 rally holding on the week, a new record high all of that having to do with inclusion in the s p 500. That does not happen until december 21, that is why the s p 500 did not benefit this week and had the weekly decline. The last excitement generated over tesla and some experts are theed telling me that gains are likely to continue into the s p 500 inclusion and after it you might see some seldom news action. Event is ar weekly mix for the big stock indices but it started off with a bang on the vaccine news and then of course you have been following tesla, talk to us about how it all carries through. Abigail the vaccine news is interesting, you are mentioning pfizer and their partner filing for the emergency authorization. Take a look at that, pfizer barely higher. It seems the vaccine news is becoming increasingly on the other hand, mergener modem and a has their stock up, the eu may improve some of these vaccines and they are saying they may commit 10 billion to m odernas vaccine. You also have stayathome stocks higher on the week, zoom in palatine, so this may actually catch attention. You had those folks preparing to perhaps stay in, on the other hand, the vaccine holds reality hopes reality for later next year. Sticking with health care, amazon despite the fact they had the online pharmacy, lower on the week given the fact this is the ultimate stayathome stock. The real decline had to happen with walgreens and cvs. But nonetheless investors getting ahead of it selling those shares this weekend. Emily and the ceos of some of those Pharmacy Companies also pushing back about just how big a deal this amazon move is. We will be following, thank you so much. Have a wonderful weekend. Moving on now, continuing on the vaccine race, this week bloomberg hosted a new Economy Forum where leaders from all over the world chimed in on the latest of element and what we can expect going forward. We had some good news in terms of vaccines and a chance to overcome the health crisis, but we are not there yet. Is surveillance we need mergers, this is your best weapon and you need to use it well. Next sixd news is the months in the Northern Hemisphere will be very taut, the good news is that both of vaccines and therapeutics in particular the antibodies are coming along and will start to bring that number way down. Joining me now, the cofounder and ceo jason kelly, his company is focused on bioengineering and streamlining testing and vaccine distribution. I know you have been working with some of the most prominent folks making these most promising candidates on their manufacturing process, first of all what is your reaction to the news out of pfizer today in terms of when well actually see this on the market when just regular people can get a vaccine . All citiesink you coming on the market in december and january, it is interesting to hear him say it is not a silver bullet, i think that is very true at a population scale, but it is really exciting that the results from pfizer for a new type of vaccine which is what these are, i dont think anyone would have predicted those 95 efficacy. In me is very excited about that. Emily i know you have been on theirk with Moderna Vaccine manufacturing process, we just spoke with the cofounder and chair earlier this week. They had some positive news, talk to us about how that process is going and see how you see getting these vaccines to people around the world at scale . Jason that is the key question coming up, now we know these things work it is, how do you get them out . Million to 300 americans, but 8 billion people worldwide and the good thing about the nucleic acid vaccines is they are fast to develop and their efficacy has been incredible. Arebad thing is, we deploying them at scale for the first time, so the supply chain is not as robust as more traditional vaccines. You are seeing these big programs to fund and expand that infrastructure and now that we know these vaccines work, you will see people doubling down and dribbling down on meeting that supplied need. Decemberme are saying is great, but we are going into a long winter, 200,000 new cases a day, the cdc advising people not to travel on thanksgiving. Here in california i have a 10 00 curfew, are these vaccines going to be available to people like me . Think that is exactly the right thing for us to be talking about. I think one of the things dr. Birx actually mentioned at the press conference yesterday was starting in areas where prevalence is lower, places like california, can we start doing surveillance testing she called them sentinel populations where you are testing people without symptoms weekly. Whether that is in schools, workplaces, how do we start looking for the virus even when someone is not displaying symptoms . To me, that is the in between technology between now and the vaccine being widely available which dr. Fact she said widely available in april and i think we have nearly the whole population saying that is the tail end of next year if we really pushed it. In the interim we have to deploy that testing without symptoms. Once the vaccines are ready, you have talked about how as you say, this technology is completely new to the vaccine world, but once we do it this time it means we can do it again more easily. Next time how do you see these vaccines actually changing the vaccine creation, development, and production landscape forever . Jason that is a Silver Lining here. This is now the new normal, our ability to rapidly respond to emerging Infectious Disease in a matter of months is proven now. You will see people try the new vaccines for things like flu coming up in the future. We will have to see it, but i think one of the great things here is the toolbox for how to Infectious Disease has expanded dramatically and i hope we actually use this to clean up some of the Infectious Diseases worldwide. Infectious disease in developing countries shows up once every hundred years with a pandemic, but we still have Infectious Disease grading in normas impact worldwide in low and middle impact countries and these will hopefully be able to help them post pandemic. Emily there are still concerns about the storing of the Pfizer Vaccine in the super cold temperatures, talk to us about your role in your technology and your technologys role in that process from getting to point from point a to point b. Jason the way these work is you have to get a cell to make a piece of the virus and your immune system response, the manufacturing challenges how do you get the rna . There are two challenges, you throw cells in a big tank on like a brewery and inside every cell is a little piece of dna that has a code for a piece of the virus, you grow it up, you pull the dna out and then you put the dna in the lab and at enzymes and turn it into rna in the rna goes into the vaccine. Those steps are the steps we are working on, both making how you run the brewery more efficient so you get more dna per batch and secondly, those enzymes that you used to convert the dna to by are usually used scientists at the bench, we now need tons of this stuff to produce billions of doses of the vaccine. That is more than anyone has ever made and that is a new production process. Jason kelly, fascinating to hear what you are working on and thank you for that work in helping to scale this process around the world. Thanks so much for joining us. Up, how will big tex relationship with washington be shaped under a Biden Administration, we will discuss next. This is bloomberg. Emily the Obama Administration was known for being handsoff when it came to big tex especially regarding giants like google, that is what antitrust issues and calls for increasing regulations facing Silicon Valleys tech behemoth when asking what the environment will be like under a biden in ministration. With us now for more, jennifer of bloomberg intelligence. Under the trumpet ministration, the doj, the ftc have been in hot pursuit of these companies. We have got antitrust lawsuit against google, we have got the ftc exploring a big potential lawsuit against facebook, how will that be impacted by a Biden Administration . As you know i think it is just a continuation, there is a lot of momentum right now in terms of scrutinizing the conduct of these platforms and others and i think it is just likely going to continue to be an issue and a focus for both the ftc and the doj even once bidens appointees take their places and leadership. I dont think anything changes, i know there has been speculation that may be the Biden Administration would go easier on Silicon Valley companies because of what happened with obama, but i think that was several years ago and things have changed, these companies have changed and there is just too much momentum at this point. I think President Biden as well as some of his spokespeople have expressed concerns we have been hearing from other politicians in the house and senate about the power of these companies and just generally antitrust enforcement in the United States and how it stands right now. Thosek we continue on, lawsuits keep going and possibly others are brought. Administrationa has been described as not just being hands off, but cozy with the tech giants. The you have a lot of people who worked under president obama continued to run the Communications Arm of some of these technology companies, do you think biden will continue with that or take a different approach . Jennifer i think take a different approach, investigations have been ongoing for over a year and those investigations yield a lot of evidence. There are massive numbers of documents collected, there are interviews, depositions, and the staff at the ftc and department of justice are going to go where that evidence takes them. At that level, it is not political. If there is insufficient evidence that these companies have a monopoly position and that they are acting anticompetitively, engaging in predatory conduct that harms consumers, those lawsuits are going to be brought even if biden is considered in some ways a friend to technology or has people in his administration aligned with technology. At this point the train is out of the station and i think it keeps going. Emily so what are you going to be watching in terms of signals after Inauguration Day in terms of how this administration is lead on these issues and will they expand some of this antitrust scrutiny beyond technology . Jennifer the first thing i will be looking for is through the appointments are, who the commissioner of the ftc will be and when they stick this position take those positions. The democrats have very different views on what the ftp ftc should be doing right now and that is going to flip eventually, we dont know when, but it will flip and we will also have a new assistant attorney general and charge of antitrust at the doj. If those people are moderates, we might see a slight uptick in enforcement, but if those people are more on the Progressive Side of the democratic party, people who have used more aligned with Elizabeth Warren who believes these companies should all be broken up, i think we could see something significant happening. The first thing will be who these appointees are, particularly at the ftc where we some radicalseen views expressed by the current democrats and how they would approach merger review and how they would approach going after monopolistic firms. The other thing i would be looking for is what happens with legislation. We have a bills on the table now both in the house and the senate and they are aimed to make it easier to go after these kinds of companies in court and we know they are working on something. So we will have to see what goes on with that. Emily thank you so much for joining us to weigh in, lots to watch as a new Administration Takes over. Coming up, canadian fellow and rival shop of fire is going full throttle as it expands its digitization of businesses around the world, we hear from the founder and ceo of lightspeed, this is bloomberg. Bloomberg technology is brought to you by dell technologies, when it comes to your business, we will stop at nothing. Emily lightspeed which provides and allinone pointofsale solution for small and medium businesses has seen a surge in customers as they continue to read the pandemic wave and ease test ecommerce. The debuted on this Stock Exchange two month ago. Dont answer more is the ceo and founder, he is also the latest guest on our transform series. Talk to us about the friends you are seeing among customers and Small Businesses right now as the pandemic continues going into the holiday season. On, asks for having me you can imagine, all of these merchants we serve retail but we also serve hospitality, they are letting up their digital channels, most of our customers have physical presences, but it is all the ecommerce Curbside Pickup, delivery channels that are our crucial lifetime lifeline right now for these businesses. Canadayou went public in last year, than on the new york Stock Exchange a couple months ago and your shares are soaring, but how much do you expect this activity to continue as life returns to some form of a nearnormal knowing that is a ways out, but the vaccine news has led us to believe it could be sooner than we think. We have been preaching omnichannel which means the blending of physical and digital channels. We have seen covid accelerate adoption of omnichannel solutions, we fully expected that the customers that the consumer is going to be shopping in physical locations and online and businesses have to be prepared to offer both experiences. What we have seen is that a lot of our customers prepandemic had used may be more of the tools for managing their physical operations, but as the pandemic set in, there was a ofh to light up the elements lightspeed that enabled them to transact with their customers on the digital sense. Post pandemic i think these businesses are going to have both of these revenue streams. You compete with some u. S. Tech giants, you also compete with your fellow Canadian Company shop if i shopify. What sets you apart . Dax lightspeed has always been special ed specialized for the complex merchant. Our average hospitality merchant is doing an average of 600,000 inkind section volume per year and that means they have got more complicity in their business, so theyve got tens or in aeds of thousands of back shop or pet toy apparel. Or in restaurants, it is a restaurant connected to a resort or golf course, so there is more complexity inherent in the business and these complex businesses are typically served by legacy systems that have all that d functionality. In the cloud and that is what is really enabling omnichannel, i think were the player with the most scale and all those complex businesses that do on the channel are getting out to lightspeed. Emily what are you looking ahead to this holiday season, what trends are we going to see . Is a lot we are seeing of these new Business Models of ecommerce and Curbside Pickup and all of these new ways of selling being really popular and how people are going to get through. We are also offering ways for customers to use things like subscriptions and to get gift boxes and so on from their favorite retailers. There are some friends of buying local and shopping with local retailers that are i think really interesting for our customers. Emily ok, lightspeed con fender, we will keep our founder, well keep our eye on you. Americans and citizens around the world need facts now more than ever as widespread misinformation about borten issues like covid19 and elections continue to thrive on social media. Joinsesident of usa facts us to talk about the Accurate Information out there. That is next, this is bloomberg. Curbing the spread of misinformation has been one of the Biggest Challenges for social media platforms, facebook said that it has now labeled 167 million posts this year for including information about covid19 that was defunct debunked by its fact checkers. The former ceo of microsoft is working t