Joe manchin will not join President Trumps cabinet as energy secretary. The idea surfaced last week as a possible way to let the states new republican governor name a successor. Trump is i cant david meeting with his defense and Foreign Policy team to discuss the future role in afghanistan. Secretary mattis and secretary tillerson attended, so did Vice President pence, Steve Mnuchin and jeff sessions. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. This is bloomberg. Emily i am emily chang. This is bloomberg technology. The battle raging between the board and founders of one of indias a guest Software Services providers. We will discuss the criticism that pushed out the ceo and the road ahead for the asian tech powerhouse. Could soon beeen taking center stage inside americas living rooms. We will explore potential new Hollywood Partnership that could change the movie landscape and the rest for new blockbuster releases. The first to a. Steve bannon is officially out at the white house. Then it was a controversial architect of President Trumps election victory and a leading champion of american populism. As a former chair of bright part news, he served as a link to the alternate movement and catered to the most conservative movements of the president s base. Work is also said to face possible removal. We also just learned that carl icahn says he will no longer act as a special advisor to the president. He tweeted that today, with President Trumps blessing, ics to advise the president on regulatory reform. A tumultuous four weeks, as many senior officials have announced their departures, including reince priebus, anthony scaramucci, and sean spicer. Joining us now to discuss where all of this leaves us and the trump administration, craig house and a former white for president s clinton. The thoughts specifically about realtor reform. What is your take . If you read the letter that he sent to President Trump, there recently was any Regulatory Affairs chairwoman. Her job is essentially watch dogging all the regulations the come and go inside the government. We know donald trump has been aggressively trying to knock down as relations and reduce the number, cut back on some other the was that obama puts you at the end of his term. It has been a high priority of his, one that carl icahn says come if you have one person officially doing that, i dont want the position of unofficially doing that and give the democrats a reason to take a shot because one person should lead the charge. Emily mad, you have been in the white house inner circle, certainly not a white house like this one. Bowen you look at the ousting of steve bannon, do you think we can draw a but when you look at the ousting of steve bannon, do you think we can draw a line between the events and the comments on those events . I wouldnt immediately rushed to that conclusion. This has been a tumultuous white house command you concluded. I think general kelly is focused on this, achieving some measure of stability and focus on the president s agenda outward, not inward with this continuing telenovella. I would say, as craig noted earlier, Steve Bannons decision to resign, or perhaps he was asked to resign we will see how that played out in the coming days i think this is a major development. Clearly, bannon was the link to the conservative altright, if you want to call it that, but is certainly much of the conservative support that President Trump enjoyed in the campaign. Emily we have been looking at this photograph from january inside the oval office, we see the president and the Vice President and several people who are no longer there. All of them now gone. The revolving door dysfunctional nature of this administration will stop at this point . Or can we only expect it to continue . One of the questions you will hearing is will there be other people serving in the administration, will they feel uncomfortable continuing to serve, particularly after the charlottesville situation and episode . We havent seen any suggestion that that might be the case. I would say part of the real issue here is you have got to change, pivot from campaigning to governing. Antigovernment, you have to have a team in place. We had all of our cabinet confirmed the day after the inaugural. Are stilland his Team Sterling to get a government in place, besides this revolving levels. Very high the president has to be steady and the world stage and the National Security council is key, as well as his cabinet ministers canada members. I think you will masters was a regard. Pick in that where you get traction in a new administration is passing legislation, getting the peoples business done. And today date, this administration has not been that. Sful in doing they have got to get some stability, stop this inward focus, which is the revolving door you point to at very high level positions. Emily craig, an editor at breitbart, tweeted war. There are reports of breitbart made tried to attack people in the inner circle and that bannon may return to breitbart. How concerned is the administration have to be now about concern from conservative have to be now about conservative media . Be veryhave to concerned. Breitbart has made it clear to associates. He is here and that perhaps he is ready to go to war here. He may not direct that the donald trump. They had a very good relationship. It has frayed in recent weeks and months. There are people we know that he has been battling with inside the administration. Gary cohn comest diminution, some of the folks just mentioned, h. R. Mcmaster. I would be surprised of mr. Bannon can hold his tongue on those folks for which he has very strong feelings in the neck or in the negative. Sourcekevin tweeted a close to ben and told him democrats have seized control of the white house. Kushnerary cohn, jared they are all democrats. Do you think there will be any change or shift in policy or in the rhetoric we hear from the president himself . I think you have already seen in policy, as the president has put forth some of his major initiatives, although again, he has not received much momentum them. Ction on more traditional republican views per forward on lower taxes, less regulation, infrastructure is a natural for a bipartisan support for bipartisan support. I think you have already seen a somewhat more muscular foreign tillersonh secretary mcmaster. I would put forward the notion that what youre hearing and suggesting is this is not as radical of an agenda as some of perhaps President Trumps conservative supporters wanted it to be. I think it is a far step to say it is a democratic agenda. Emily all right. Thanks so much for calling in. Craig, thank you as well. Exclusive our conversation with nicola to massey. This is bloomberg. Emily a new chapter in the battle for smart for smartphone dubnation begins today. Is set to go squarely against the biggest players in the game, apple and samsung. Joining us now is president and coo. Why is this phone essential . For areas i would highlight. We have a unique style, titanium ceramic. You love it or hate it. Must be beloved. Theres no logo on it. Its your phone. We are big and believing this is a proconsumer brand. We dont want you to advertise for some but else. It is your personal property. You choose what goes on there. We have unique access reports. This can upgrade the phone, extended the phone, other capabilities. And we also the smallest four k video camera. Andend record this segment 360 video as well, not just on bloomberg cameras. If you look over my shoulder, you can see this is the first ugc for vr. You can put a goggle on her helmet on. You can see what its like to sit where i am right now. But you dont have to have goggles. This is the cool thing about 360 video. You can look at iphone from a cow that, a laptop. Photos. Takes 360 we just took one. Emily all right. All right. You guys have some courage. Its the week before samsungs new phone comes out, a month before apples new phone comes out. Are you concerned about the competition . Are you scrd . We are beating everyone to market. Emily they are already on the market, ok . Not with this innovation. Our model is to bring innovation to the market faster than our competitors can. We have a number of things we have changed, which we are beating to the market. No one else has a 360 4k camera. No one else is the magnetic axis report. This is a accessory port. And a new accessory will be quarter. Ery one of the things i am most excited about is that a third of our users are coming off of ils phones hth ils ios phones. They are having complaints in the reviews that i want you to respond to. One is the sprint xmas city. When is that changing one is the sprint exclusivity. When is that changing . And the fingerprint scanner are not so great. The distribution generally have is multichannel. We are selling an open market, unlocked version. And sprint ass exclusive retail stores. They are exclusive for the time being. But we built a global phone. Weve built one model for all countries and all channels. There is a balance when you are a startup between getting hero placement marketing, moving units, getting that virtual circle going when you can bring margins. N and drive you will see that model rollout in most countries. Picking one carrier store to be exclusive. Emily what about the other issues reviewers are talking about . The camera . The loudspeaker . The fingerprint scanner . There are a lot of reviews out this mining. This morning. I am delighted with 80 to 90 of them. The software and the hardware obviously are the work of 50 people. We just went to a hundred recently. It. Ontinue to refine will see tremendous improvements from us in the andng weeks as we ship those additional models to come. Emily will there be a waterproof one . In due course. We recognize that is one of the things that we need to do more on and trying to advance other elements of this and drive next years model. Emily talk to us about what is next. This is just a starting point. Whats to come . We have introduced a home product. That is a big swing at not only also foriot space, but os. W system called ambient it is built for a world that has 50 or a hundred interconnected devices in your life where people today only have three or four. When andy started android, they only had one, your desktop. So every three years, we have a changing computing platform. In the long term you have to have a new paradigm for ai computing to really make this world of iot easier for you. Emily what about this idea that one of the essential tenets of essential is that it will relieve us of the problem of checking our phone every 10 minutes. We have outlined that in a fair amount of detail. The phone is important because as i like to say, as long as humans are in charge, screens are important. Usually probably a couple of feet away from this screen. All the other. Screens in your life are also a part of how you will sense your environment and your ecosystem will learn about you. Can collectedmera data that will learn about your patterns and behavior and preferences. It will be common to our home devices. This accessory port will go to the home product. Anything is we put out will build an ecosystem in the coming years. Emily all right, president and coo of essential. Good luck. Thanks for stopping by. We have breaking news now. Thisre just talking about pm steve bannon has just told bloomberg he will be going to war for President Trump. We have been talking about whether he was going to war against President Trump based on that we coming from the Senior Editor at breitbart, saying war. He has been speaking with bloomberg, steve bannon himself. He said that he is still on the president s side. A spat between the board and founders of infosys had shares tumbling today. We will have what is causing the rift. This is bloomberg. Emily the chief executive of infosys has stepped down after criticism from the companys founders. Shares of the company dropped just over 5 on the news. The founders have criticized the company for its acquisitions and executive pay. The company has neglect or a difficult transition to Digital Services and databased computing. Caroline, talk to us about what is behind this. He has been under pressure, but why now . Caroline under pressure from the previous chairman, the previous ceo and one of the founders of infosys. It seems to have come to a head at the moment. You see the share price also much. Looks like he left rather swiftly. Ever since he took the helm back ago, he wasee years the first ever nonfounder ceo. He wasnt part of the club of the founders, some seven that set this up back in 1991. That criticism has been harsh on him. Not everything has run smoothly. It isnt really until last year that all in out allout war. Murphy had particular event ceo, sayingt the governance lapses, questioning acquisitions, the executive pay. This was continuous noise. He gave a statement saying i cannot continue my job as ceo and create value while constantly facing increasingly personal attacks. The board got his back. The board said this was demonstratably false allegations coming for mr. Morphy and harmed employer more allow employee morale and lead to losing our ceo. Emily infosys is a company that has come under fire for taking , in from American Workers response to President Trumps concerns about widespread abuse of the visa program. Infosys said it would hire 10,000 u. S. Workers. But this controversy has not only put pressure on the stock, but on sika himself. Emily not a good time to be without leadership. Look intoly, when you howterminal and see important the u. S. Is for infosys. One yes its number one area Revenue Growth it is its number one area of Revenue Growth. 10,000 was what they promised in april of this year. That will hurt margins because many of these workers were coming in on temporary visas and were cheaper. That was the criticism coming from the u. S. Theres also the headmans of people not spending so much on hardware. All this means job cuts. Emily how does the company attract a new ceo amidst all this drama from the founders and the board . Hard,ne really especially when you have such voices coming from the previous founders. Interestingly, the vice chair of infosys says he hopes now they can move on from this, perhaps new blood coming in will help. Name, hes non longer ceo, but mr. Sika will stay on as ceo and help find a replacement for himself. The coo will be a steady [indiscernible] but they really need to stop this criticism coming from the previous founders and move on. Meanwhile, this is a company that needs to drive Revenue Growth that much higher. Caroline hyde for us in london, thanks so much for that update. Coming up later, the total Solar Eclipses on its way. We will look at how companies are planning to shine a light in the shadow. We will have more the conversation between steve bannon and bloomberg. This is bloomberg. Got you outnumbered. The dinosaurs extinction. Dont listen to them. Not appropriate. Now im mashing these potatoes with my stick of butter. Why dont you sit over here. Find your awesome with the Xfinity Stream app. Included with xfinity tv. More to stream to every screen. Mark you are watching bloomberg technology. Lets begin with a check of first word news. Steve dan n, whose last day on the jar today, tells josh green of Bloomberg News that he is going to war for President Trump and will take on the president s opponents in the media, congress and in business. His departure came following clashes with mr. Trumps family and other white house officials in recent weeks. Told bloomberg friday the u. S. Is experiencing a crisis of leadership. We can be optimistic. But the president is a wildcard. He has shown that on issue after issue. And he needs to center this administration, and rely more on these cabinet secretarys you can produce better results for him. Burns said that the president doesnt even have a grasp of the center event of our history, the civil war. A man stabbed a people in finland friday to my killing two of them before he was shot and attained by police. Authorities were looking for more potential suspects. A city about 100 miles west of helsinki. Security has been stepped up across finland. European flags flew at half thef friday in tribute to victims of the attack in barcelona. Our sorrow, our shock, add ouref, and above showlief, and above all to our support for the people of barcelona, to the spanish people. Nice, france,r of is planning a summit of mayors across europe across million europe. Million have been raised. Syrian forces fighting alongside e cap sheard land along the border. The Russian Military says its aircraft are supporting a damascus government defensive. Sierra leone Officials Say the chances of finding survivors in the debris of mudslides this week are diminishing by the day. More than 400 bodies have been recovered. About 600 people are missing. More than 100 victims are said to be children. Despite threats of further mudslides, the government is moving ahead with burials. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Emily . Back to our lead Steve Madden Steve bannon has made his first public remarks. Willd bloomberg that he be going to work for the president. He says, if there is any confusion out there, i will be going to war for trump against his opponents in capitol hill, in the media and in Corporate America. He made those, said josh green, who wrote the book devils bargain. Josh, you just got off the phone with steve bannon. What he did he have to say to . I wanted to know what had gone down . This. R he expected but most of all, what he planned to do next. There has been a lot of speculation. Bennett has been on his way off for a long time. Av a figure that has been at war with trump advisors. Van and told me he had not had a falling out with trump. In fact, he would continue this nationalist crusade on trumps behalf on the outside. He listed the three people he was planning on targeting, capitol hill, opponents of trump in the media, and most interestingly to me, trumps opponents in Corporate America who he thinks are pushing a crony capitalist agenda and inhibiting trumps policies. Emily giving the events of the last three days with ceos stepping down from his business council, the council than disbanding, read between the lines, josh. . What does this actually mean i think it means what does this actually mean . It means bannon will take on a role like when he was the head of breitbart news. But even more than that, an influential political figure that took over the republican they that culminated with presidency of donald trump. Crusade islist ongoing. He is going to be uninhibited on the outside the way that he was not able to be working inside the west wing. Emily there is speculation he may return to breitbart, that breitbart will be taking on his agenda. Did he say whether he plans to return there formally . He did not say on the record he is going to return there formally. And my reporting this point, i talked to three people close to ban and, all of whom said all of themnon, said he would be returning to breitbart. I expect that to be his first stop when he leaves the white house. Emily did he give you more indication about why he left and why now . People want to draw a line between what happened in charlottesville and the president s remarks and that bannon may be taking the fall for the criticism of those remarks. I dont think that is what led to this firing. Bannon didnt seem to think so. He just passed yesterday the oneyear anniversary for the work for trump. He took over trumps floundering augustntial campaign on 18th, 2016. Plannedndicated he had on leaving at some point all along. There are disputes on whether bannon was going to leave now or whether he was pushed. Decision, inas his consultation with chief of staff john kelly and President Trump. Theres no bad blood, no bad feeling, no animosity with the president , as is reflected in the quote he gave Bloomberg News. Ideologies dos not fit in a neat little locks box. Some of the ideas he pushes her much more liberal ideas. Kevin tweeted that he had heard from a source that they are all democrats in the white house, whether it is jared or ivanka or gerry cohen. What does that mean for bannon on the outside . I think that it means he is not going to feel as though he is inhibitex in quite the same way he was as a west wing staffer. Was a interview, bannon good soldier and made a good show of reframing from attacking any individual white house officials who he may have been butting heads with. Its no secret that bannon has been more or less in open warfare with gary cohn and and jared and mnuchin kushner. Source ofn such a contention within the west wing over the past few months. Emily if you are in any of the three groups that he has called out, capitol hill, Corporate America, the media, should you be bracing yourself right now . Or will this be more bark than bite . I dont think it will be more bark than bite because bannon clearly a significant portion of the republican base. That includes trumps most ardent supporters. The fear among some republicans is that bannon would leave and go outside and would immediately begin attacking President Trump, which would set off a civil war within the republican party. That is not what bannon is planning on doing. I think what he will do instead from the outside is to put public pressure on the elements of trumps administration, especially the wall street folks, who bannon believes are inhibiting trump from carrying out the populist nationalist agenda that he ran on. Bannons in bannons the eu, that ought to include things increasing marginal tax rates on the rich and pursuing a more noninterventionist foreign nationalan trumps security advisers are inclined to want to pursue. I think what will happen is that the struggles that have been going on inside the white house and leaking out in bits and pieces to reporters will now be waged more openly, another steve bannon doesnt have to worry about losing his job in the white house. Emily steve bannon spoke to you first. A new bookout with about steve bannon. Thank you so much for joining us. Coming up, what regulatory barriers stand in the way of Ridesharing Companies in the future of transportation . We will discuss. This is bloomberg. Emily one of the most of bearish stock managers think that bitcoin has room to rise. Thomas lee says the cryptocurrencies could hit 6,000 by the middle of next year. He says User Accounts are likely to rise 50 . He expects bitcoin to reached we 5,000 by 2022. Uber has been in the news a lot this week. The most notorious headline is is battle with the government in the philippines. Joining me now from new york to discuss this, as well as take a look at the future of transportation, gave klein gabe klein. Thank you for joining us. Its not the first time uber has the five the government. Thanks for having me on. I think it is used to this now. They do this over and over where they push things to the limit and then beg for forgiveness. That is what has happened in the philippines. Month. Re suspended for a that is a significant problem for them on the revenue front, but it gives a competitor a big opportunity to grab market share, no pun intended. This is a problem they will continue to face around the world, particularly in places like europe and asia. There are governments might be a ortle more authoritarian more leftleaning. I think they are in a situation where the technology is moving so fast, the Business Models are evolving, and the governments feel like they cannot keep up. They are trying to slow things down and uber doesnt like that. Emily it is hard to get caught up with this idea of ridesharing being the future. But what about bike sharing . How do you think . The chips fall two decades from now . I am very excited about the renaissance of the bike. Thes the commissioner of department of transportation. We had one of the largest bike sharing in the u. S. People love it. I think we overcomplicate peoples trips. A two to three mile trips, which is 70 of the troops in the cities, is perfect for biking. There are chinesebased companies coming into the u. S. The existing bike share operators and sometimes cities it. Worried about the big picture, the single occupancy vehicle, the car, is really the enemy. I shouldnt say enemy. It is the market opportunity. So that goes down. There will be huge opportunities ,or bikes, for people to walk for driverless shuttles, and various other technologies and modes to fill the gap. Emily talk about other competitors. Moreyperloop, there are futuristic plans at work. Elon musk got approval to build underground hyperloop. What goes into getting approval for this and how realistic is it . I give him a lot of data for a lot of different things, and definitely for starting a dialogue about this and getting a tremendous amount of press and marketing very quickly. The verballity is approval from the government doesnt mean anything. First, you have to do with the state and local jurisdictions, particularly where Something Like the hyperloop would begin and terminate. Above and beyond that, there is all of the funding that has to be figured out, the rightofway issues, which means the land you have to utilize or procure and utilize to build Something Like this. You are talking about a process that is minimum five years. In the grand scheme of things, verbal approval doesnt mean much. But he got a lot of earned media out of it. Emily do you think the hyperloop can happen . Yeah. People thought that the interstate railroads or the interstate highway system work crazy ideas at one time. When you think about the hyperloop, it is basically a vacuum. It makes a lot of sense. But, like anything else, it takes time to get these things in the ground, so to speak. Emily all right. Us. Ks so much for joining coming up, Hollywood Studios and apple are said to mull a potential rental plan. We will see what either side has to lose. This is bloomberg. Emily Hollywood Studios are considering a plan that could cut into business at movie theaters. The filmmakers may go ahead with a proposal to offer digital rentals on movies on video on demand platforms. Joining us now from l. A. Is craig harrison. What do we know . You said it, the movie studios are having this conversation with potential distributors of digital downloads, like apple, comcast, Cable Companies that sell video films weekso offer after they debut in theaters. This has been going on for a while. The studios have also been talking to the theaters because they like to have their consent and permission to do this so this will go more smoothly for them. So far, they havent been able to reach this agreement. They are starting to feel they will have to go it alone. Emily can movie theaters fight back . Yeah. There is a lot that movie theaters can do to fight back. They are still the biggest generator of revenue for films. They can just boycott a movie. We are going said to release direct to homes within a few weeks after it is in theaters, theaters can say, no, thanks, we are not going to do that. That makes it a touchy situation. Emily how do you expect this to play out . It is still work in progress. If things come to a head, what you could see is the studios, as early as the beginning of next year, try to experiment with putting out a movie just a couple weeks after it is in theaters. That could happen in the u. S. Or a foreign market if they want to dabble. They will test it out and see how it goes. You can see price points from 30, 40, 50 for that type of service. If you compare that to the cost of getting a babysitter and going out, a couple of movies my come out ok. You can see the studios back often say we need to get the theaters on board and take a little longer to get it right. Emily thanks so much. On monday, people across the u. S. Will be treated to a rare event, a total Solar Eclipse that will sweep across the nation, casting millions into darkness, but only temporarily. We took a look at how the Tech Industry is faring in the shadow of the moon. Thousands of people will be lining up to watch the first total Solar Eclipse in nearly a century visible only in america,. Tech companies from google to airbnb are watching ways to watch the spectacle like never before. Where i am, san francisco, it is not the ideal place to watch the effect of the total eclipse. To see that, you need to be along the path of totality, a 70mile wide, 3000mile swath that will go across the country. Nasa pilots have the mission to chase the darkness in retrofitted jet planes. The jets have to capture the clearest images of the corona, atmosphere and thermal images of mercury. For those not going supersonic, there are other ways to watch. Google is partnering with mystery science to hand out 14,000 pairs of these glasses to make it safer kids and teachers to watch. Because, as nasa will remind you, it is dangerous to try to look at the eclipse through home and lenses. For those not in the path of the eclipse, they can get a look through google er. Amazon is waging a war on fakers try to pass on glasses that could damage the eyes of unsuspecting shoppers. The company has gone as far as issuing any mel warning and issuing refunds to customers an email warning and issuing refunds to customers who bought the knockoffs. 15,000 incoming guests have gone into airbnb. Hertz is benefiting. Even the company nest is helping people save energy by precooling homes. It will also test of the nations power grid. One report estimates it could not down 9000 megawatts of solar power. That is the equivalent of nine nuclear reactors, enough energy to power 7 million homes. If solar energy drops, more power plant across the country will have to pick up the slack during this once in a lifetime event. You can catch the eclipse on monday, 10 00 pacific time on the west coast. That does it for this edition of bloomberg technology. Thanks for watching. We are Live Streaming on twitter. Tv. K us out on have a wonderful week in, everybody. This is bloomberg. Announcer the following is a paid program. The opinions and views expressed do not express those of bloomberg lp, its affiliates, or its employees. The following is a paid advertisement for time lifes video collection. Welcome to our first show that we are doing. Im real excited. [laughter] good evening, sir. [laughter] millions of people are demanding my return to the screen. [laughter] how funny we are. [laughter] [applause]
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