Replacement bill. He says there could be a vote this week all the provisions of the bill are not clear. Global news 24 hours a day powered by more than 2600 journalists and analysts. I am Alisa Parenti and this is bloomberg. Caroline i am caroline hyde. This is Bloomberg Technology. Coming up, a big week for big tech. Facebook and apple taking center stage on earnings. We will break down all you need to watch for. The Tech Software startups vaulting to uniform status and breathing new life into old data. Tech stocks drive the nasdaq to another record close. To a c. E. O. Eaks it was another banner day for u. S. Tech stocks. The nasdaq again closing at a record high. Abigail doolittle has been all over it for us live from new york. Break it down because i am losing count which stocks are at record highs. It is amazing. We are seeing a bullish run for the nasdaq putting in another set of records today. Closing at a record high with lots of stocks behind it. What also stands out about the day is the divergence. The dow finished slightly down about 1 . 1 on industrial weakness. Technology keeps going. As for what did help the nasdaq achievement records, a lot of the usual suspects including amazon and microsoft. Doesn doesnt apple report earnings after the bell. They will also be watching to see what the cash pile looks like. It could be close to a quarter 20. Facebook does report after the bell on wednesday. Investors are looking for 45 growth on the top and bottom line. Both stocks closing at record highs as did amazon and microsoft. This is the story of not just the date of the year. 7259. Take a look at we have the s p 500 and the dow both up about 6 to 7 . The nasdaq 100 up about 16 . Massive outperformance on the year driven by technology. Caroline check out that. Quite amazing. Talk about the outperformance. That stands out. What has been driving the market momentum . Is it earnings optimism . It has been and the idea that growth will continue. This is not just for True Technology stocks. Two stocks are consumer discretionary, netflix and tesla. Both put in record highs today. Paul says this has to do with dishs subscriber numbers weak. They are going to online streaming services. Tesla one of the top performers on the nasdaq 100. Elon musk did make bullish comments over the weekend according to a Bloomberg Intelligence analyst. Tesla. Ook at a chart on tesla has been trading in the range of uncertainty. Recently it popped out of the range. An analyst is saying he thinks this is a bullish breakout. It could take the shares of tesla up to 429 per share. Some potential upside. Twitter popping higher on the day by more than 6 after the wall street journal did report twitter is teaming up with Bloomberg News to create a 24 7 new service on the social media platform. Exciting stuff all around. Caroline fantastic roundup as ever. Abigail doolittle, thank you very much. Tech earnings season clearly upon us. We kicked off the week with tech giants like amazon and alphabet at record highs. Apple and facebook are gearing up to release their numbers. Joining us to dive into these companies is my guest cohost for the hour, michael wolff. He also was the president and c. O. O. Of mtv network. You know everything when it comes to entertainment. When it comes to earnings season, im looking at the outperformance of technology this quarter. 25 of the 51 tech stocks have reported 92 have beaten in terms of an earnings surprise. The dominance with alphabet is appetizing. Does that bode well for facebook . 75 of all internet advertising is going to these two companies. Practically every incremental dollar is going to these two companies. They have a lot more headroom. All of the tech stocks have a lot more headroom because we still see a lot of money will be shifting into internet advertising. At the same time, internet advertising will continue to grow not just as advertising shifts but other marketing expenditures like direct marketing go into internet advertising. Caroline im looking at facebook revenue. Jump 45 . To it blows my mind about how these juggernauts are still seeing growth of 45 in the first quarter. Advising those companies you consult to, to be able to compete with what are becoming almost monopolies . At our firm, we call them the discovery oligarchy. It is not just about competing for advertising. It is about everybody else competing for ways to find information on the web. Today you have to go through google or facebook if you are looking for some sort of retail product. A lot of searches for commerce started amazon. For all of our clients, we are ways they find can stay out of the mainstream of competition from those companies. They can create online brands, specialty sites. They can find other sources of advertising revenue attached to tv shows that do not get in the way of those big companies. Caroline you think there is room in the ecommerce room world other than amazon at the moment when we are seeing it as well as dominate its web services . Only 10 of all retail is going through ecommerce. Amazon only has 20 of it. There is a lot more runway ahead for ecommerce on its own. And then for amazon taking a bigger piece of it. In a lot of ways, amazon is wellpositioned for a number of big trends on the web. It will be ecommerce, cloud computing, voice activated devices, and for video. They are aligned for more growth and coming out of different sectors. Caroline who impresses you the most . Perspective,ap apple is number one. Who shows leaps and bounds . It is a close tie. The company that seems to have the best Management Team is amazon. It is not just that they are executing exquisitely. It is also that they keep innovating. Apple has shown this quarter that a lot of the new businesses are getting traction. It is amazon that has been able to create entirely new businesses. Im confident they will continue to be able to do so. Caroline fascinating company that continues to disrupt from within. Michael wolf will be sticking with me. He is my cohost for the hour. Amd sharesearnings, plunging as much as 8. 1 in afterhours trading. The chipmaker announced Quarterly Earnings in line with estimates amid the launch of new chips. They were on sale for about a month in the first quarter. Inestors show disappointment the reports as it failed to show strong affirmation about that product. Asco is planning to buy startup for more than 600 million according to people familiar with the matter. This is part of a bigger strategy shifting away from hardware looking to softwarebased services. Both parties did not immediately respond to comment on the story. Just closedubrik out a major funding round. Some considered a tech unicorn valued at over 1 billion. We will get perspective on the company and investor side next. This is bloomberg. Caroline there is a new unicorn on the scene. Closed out its latest funding round raising 180 million and pushing its valuation to 1. 3 billion. Joining us to talk about the deal and market is the c. E. O. Of rubrik and partner at greylock partners, an investor in rubrik. Spendingot even start your 61 million you last raised. Why are you getting double that this time around . Three times that this time around. We want to build rubrik into a Large Public Company for the next 20 or 30 years. We had almost a 100 million run rate. We looked at market demand and a massiveuld make impact in the marketplace if we double down on engineering and products around the world. There is a market appetite for our product. We want to become the new standard for Cloud Management in the world. Looking at the startup barometer that measures ipos,s with funding, potential raising of funds. We are not as high as we were in june and july of 2015. Is now the time to be doubling down on companies you believe in . Are you shying away from newer investments . I think we are concerned to invest both in newark companies and very selectively doubling down on the most Important Companies as well. I think rubrik truly has a large market opportunity. Every Large Company and Midsized Company is looking to do what people call hybrid cloud. Have some assets continue on the premise and others go to the cloud. Being able to manage the data seamlessly is a requirement everybody has. Rubrik uniquely satisfies that. Caroline the 180 million you have been raising, tell me how you will add that to the 60 million . Where are the priorities . Is it geography because youre talking about going global . Reinvesting in engineers and talent . The two things that are at the core of our company. Product because we want to be the standard on cloud. We want to be the organizing principle for Large Enterprises on premises and in the cloud. We are going to double down on product and engineering and triple our Engineering Team in the next 18 months. On the other side, we are going go to market with a strategy and make our presence felt around the world. We are already in europe. We feel the market demand is there for us to be more aggressive. Caroline more aggressive. You are raising money on the private market. Im seeing such a hot ipo market when it comes to enterprise technology. You say you are looking to Public Markets in 10 or 20 years. Do you have a timetable . We want to become a Public Company in the next two to three years. We want to build rubrik into a 20 or 30year company. Going public would be a milestone. The goal is to create a large, selfsustaining company. We are looking at this market and building a comprehensive strategy to build the foundation of a longlasting company because we believe just like what google did in public internet, the cloud world creates opportunity for a company like rubrik to create an organizing principle for business data. That is what we are going after. Caroline we are seeing a lot of energy into hybrid cloud. The last time we had you on, it was after dynamic app dynamics. You helped told the company with greylock partners. It got bought by cisco. Cisco looks like it is on the acquisition trail today with another startup. What do you think about the exit strategies and where you would like to see Companies Going . Is it all about m a, ipos . I would say most companies should not go public because most do not have the length of runway rubrik does. I think for most successful tech companies, often the right path is to get acquired. In rubriks case, given the size of the market they are analystsg, the market put this market at 50 billion. It is a significant size market. Peoples data is not going away. Data is only increasing. People have a need to store data. The idea is you can store the data wherever you want or back it up wherever you want and restore or have access to it wherever you want as well. On top of that, be able to do search, analytics, compliance in a seamless way. That is the vision. One can clearly see how this can be a very large and lasting company. Caroline 200 40 million runway to go. We wish you well spending it all. Someone has to do it. Wonderful to have you here. Well done. Congratulations. Thank you. A japanese startup is betting Consumers Want to forge an emotional connection digital assistants. Creates something that projects a miniskirt wearing avatar inside a glass tube. It greets users in the morning and send personal messages throughout the day. She does not mind flirting with users. We caught up with him and asked him about it which caught the brother. Of his he was so impressed to see the first test robots, he gave us advice and said it would become as popular as smartphones. We were very encouraged by his words. Caroline is currently available for preorders in japan with a price tag of 2100. The japanese messaging Service Recently bought a major stake and plans to use it in its ai platform. Ise than 100 81 subscribers the platform. We talk with the nasdaq president and c. E. O. From the annual Milken Institute global conference in beverly hills. What she has to say about bringing capital back to the public equity markets. A feature we would like to bring to your attention is our interactive tv function. You will be able to watch a slight and see previous interviews from our coverage around the globe and dive into any of the functions we feature. This is for bloomberg subscribers only. Check it out at tv. This is bloomberg. Caroline bitcoin traded at a new alltime high. It rose above the 1400 mark for the first time ever. Bitcoin has risen in 10 of the last 11 sessions gaining on the news be securities and Exchange Commission will reconsider the launch of a u. S. Based etf. We have been live all day at the Milken Institute global conference in beverly hills. Erik schatzker caught up with the nasdaq president and c. E. O. And asked about her thoughts on bringing capital back to the public equity markets. Take a listen. Balanced viewry of the private Capital Markets and public Capital Markets. I believe in the private markets serving an Important Role in our economy allowing companies earlier in their lives to grow and expand. We would like to see more of that get into the hands of more investors. Two ways. One is liquidity in the private markets. We have announced launched a new service in the know that private market that allows for more liquidity to occur in the private market, including in private equity funds. We also would love to see them come into the Public Markets and create a more sustainable liquidity environment for companies to grow. Since 2000, 70 4 of job growth in the United States has come from public securities. When a company goes public, 74 of job growth occurs after going public. We want Public Companies to find an inviting environment. There are a lot of impediments to a company choosing to go public because of litigation, the tax environment, as well as the market environment for the stock. The jobs act is a good step in the right direction in a couple of ways. Number one, they allow companies to stay private longer by allowing 2000 shareholders. It gives companies a choice of when to go public as opposed to being forced to go public. The second thing is the confidential filings allow us to understand how inviting it is. That is just the first step in my opinion. I think we should be looking at allowing confidential filings further up the chain. We should also address the fact that being a Public Company today comes with a huge responsibility. The question is how productive is that responsibility. Is it an important element of the being a Public Company or is it putting a burden on companies . Youre trying to promote transparency into pricing for the benefit of investors on nasdaq. You talk about selective disclosure of short positions. Go into more detail about that. I think disclosure is the hallmark of the public market. Transparency and disclosure. All we get now is aggregate short interest. We only get short interest. 45 days after the end of every quarter, which is an eternity today, companies do have long positions in stocks after the close disclose those positions. A you have been shorting security, you are never obligated to disclose those short positions ever. That should change. It should be balanced. A company should be aware of the long and short positions and who controls them. They only have one side of the picture. Investors have an advantage over the companies. I think company should have a level playing field. Can you do anything about that unilaterally or does it require the fcc to take action . It does require the sec to take action. To requireitioned disclosure. It is a matter of getting the sec to prioritize it. Caroline dallas Erik Schatzker speaking with adena friedman, nasdaq president and c. E. O. Within for an interview the twitter c. E. O. And c. F. O. He sits down with emily chang to talk about the challenges facing twitter as it enters the big media buying season. This is bloomberg. Tually hold your business back . Say goodbye to slow downloads, slow backups, slow everything. Comcast business offers blazing fast and reliable internet thats over 6 times faster than slow internet from the phone company. Say hello to internet speeds up to 250 mbps. And add phone and tv for only 34. 90 more a month. Call today. Comcast business. Built for business. Hey youve gotta see this. Cno. N. Alright, see you down there. Mmm, fine. Okay, what do we got . Okay, watch this. Do the thing we talked about. What do we say . Its going to be great. Watch. Remember what we were just saying . Go irish see that . Yes im gonna just go back to doing what i was doing. Find your awesome with the xfinity x1 voice remote. Inoline i am Alisa Parenti washington and you are watching Bloomberg Technology. In the u. S. , the Associated Press reports one person has died and three others are wounded after a knife attack on the university of texas campus. A suspect is in custody. The attack happened on the central cap is not far from the thatark clock tower was the scene of a mass shooting in 1966. Benjamin netanyahu criticizing the planned meeting between the palestinian president and president trump. He made a complaint today at a ceremony for victims of militant attacks. President trump is expected to housee abbas to the white on thursday. Teargas was fired. Back. Ty forces fired called for preventing Marine Le Pen from winning. Thousands of cubans marched through havanas revolution square today in what is considered one of the Worlds Largest celebrations of may day. Todays observance was the end of an era. Castro said he will step down as president in february making this his last may day parade as head of state. Global news 24 hours a day. I am A