tv Bloomberg Technology Bloomberg July 10, 2019 11:00pm-12:00am EDT
i am emily chang in san francisco and this is "bloomberg technology." coming up, no love for libra on capitol hill. jay powell says he has serious concerns about facebook's cryptocurrency. plus you will hear from the global chief diversity officer. she tells us how they plan to double the number of female employees globally in the next five years. internet for all, it is going to take thousands of satellites to do it. will the price of global
broadband be a polluted night sky? we will take a look at an emerging debris problem. to our top story, facebook plans to create its own crypto muchncy, libra not getting love from u.s. lawmakers, in fact, getting skewered. you can now add fed chair jerome powell to that list. take a listen to what he told the financial committee earlier. while the project -- libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability. these are concerns that should be thoroughly and publicly addressed. facebook has a couple billion plus users. you are looking at the possibility of a very broad adoption and if there were problems, they are associated with money laundering, tariffs financing, any of the things we were focused on including the
company, they would arise to systemically important levels because of the size of the facebook network. i think it cannot go forward without there being brought -- broad satisfaction with the way the company has addressed money laundering and all of those things. the number of concerns that i listed at the beginning, data protection, consumer privacy, all of those things will mean to be addressed very thoroughly and carefully. in a deliberate process that will not be a sprint to implementation. emily: i want to bring in joe weisenthal and max to discuss this. it seems like every other lawmaker had a question about libra. we heard what jay powell said. why the skepticism? think the skepticism gets to the general skepticism about crypto. you heard jay powell's content on that, was the fact that facebook has so much power. that is something we have all been reckoning with over the
last couple of years were they have a huge user base. they are able to push people into new products. you could imagine if they aggressively try to push people into the cryptocurrency, it could create issues. , powell was talking about libra posing a real threat to the global financial system. at the scale of sais -- facebook's size, any problems would be magnified. is he right to be concerned? joe: listening to chairman powell, i was really struck by what i think is clear -- this is something that is on his mind a lot. as you mentioned a lot of the , lawmakers were asking him about it. i think in the past when it comes to cryptocurrency or blockchain or other endeavors like this, you got the impression that they are like, this is something we are watching. this is more than that. these are serious concerns. on the part of the fed to understand what they are doing and seeing if it passes muster. there are reasons for them to be legitimately concerned.
beyond the sort of systemic nature of it. it does raise questions of if this is going to be a more efficient way to transfer money from person a to prison b anywhere around the world, how can you do that and also remain consistent with banking and payment regulations in all of these countries? i think there are legitimate reasons to want to take a go slow approach to make sure this isn't a regulatory arbitrage to get around the existing rules of payments. emily: even though jay powell and the fed are taking their time examining facebook's plans, and cryptocurrency in general, it seems like not all lawmakers understood what they were talking about. exactly what they were asking about. this was an exchange between a -- between congressman david scott and the fed chair. >> this libra business is disturbing. i think we all know libra is the
london interbank offered rate. very critical. it is apparent that libra is going to leave us or being removed. the potential ramifications of libra'sof libra, as scheduled end nears. >> i think there are 300 trillion less and contracts referenced in five different currencies. emily: while it looks like the congressman scott laughing, getting libra and libor confuse. can we expect that lawmakers understand what they are supposed to be regulating here? max: it reminds me of mark zuckerberg's testimony where we had silly or out of left field questions. know, facebook will try to use that and say washington, d.c. doesn't know what they are doing. other than the fact that people are confused by this stuff, and
it does affect potentially billions of people, suggests that we all should be educating ourselves more closely. emily: i have to know your reaction to that moment was. joe: it was a funny question. the question about libor was interesting. i have a lot of sympathy for the politicians especially on this topic. peoplebout it, how many have your i interviewed who are in tech, or describe themselves in blockchain or crypto or bitcoin and cannot articulate what makes the technology particular? it should be worrisome and i think it is a case for slowing down. if these tech companies think they are going to reinvent the financial system while lawmakers are struggling to wrap their head around it, these kinds of exchanges say slowdown. emily: joe, speaking of regulating, who actually does have the authority to regulate
cryptocurrency and to regulate what facebook is trying to do here and watch this thing in the next year? is it the fed? not just u.s. regulators will be concerned. joe: there is some real morass in terms of crypto regulation in the u.s. the fed will have a role in this because libra will interface with the banking system. unlike other cryptocurrencies, there will be beyond money or low regulation bonds held to back libra. there is no doubt that the fed will have a role. to your point, if it is going to be a global currency, they will have to at some level deal with regulators in every country in which they want to operate which is why i think part of the appeal may be regulatory arbitrage. if they were just going to set up banks and all these countries it would be a major headache. you have to wonder if the crypto probe is a shorter way around that. if so, it's a good reason for people to be concerned. emily: what's interesting is
that jay powell talked about how the fed and fed representatives met with facebook before this announcement happened. now that facebook has unveiled the plans and the reaction has been what it is, you wonder did facebook miscalculate what the reaction would be? they have been in the middle of a firestorm, max, since 2016. a huge public firestorm. now they are putting a target on their backs. max: it's an excellent question, which is, did they think that this would distract us from the other conversation about whether facebook is having an improper role in elections? i think it is a very interesting and maybe bold public relations move in the sense that you expect facebook to go into a cave and spend a lot of time saying we don't have that much power, don't worry about us. instead, they have gone completely in the other direction. people were worried about this imperial company that was acting like a country, and here it is
saying, we want to have a bank and a de facto currency of the world, which is very bold, and maybe they don't expect it to entirely work but on the other we are not talking about facebook and the disinformation. we are talking about very ambitious ideas that is something that mark zuckerberg is happy about. emily: certainly a different narrative the not always in facebook's favor. thank you both. we will continue talking about this. sticking with facebook, it bloomberg spoke with a congressman of ohio to hear with why they are working on bipartisan regulation for regulating digital currencies. >> the act is something we started working on it is a nonpartisan bill that provides regulatory clarity. it went over well with some of my dinner crowd quex at they've found a republican that is for regulating something. the reality is the companies that are leaving the u.s. aren't leaving to avoid regulations,
we are leaving to find legislative certainty. is a big part of why facebook is launching libra in switzerland. >> this is about the certainty. the key is we have heard from a lot of businesses saying i'm going to other countries because we don't know who our regulator , -- regulator is, we don't know how it will happen down the road. it is very hard to make a business decision if you have no regulatory certainty. they are saying can you please tell us the rules of the road? who do we actually have to get our direction from so we understand the framework for how we operate? that is what this comes from. it is a great bipartisan effort. this is about making sure that american businesses can be successful here so we can have growth here in this sector. we have always done incredibly well in the tech sector.
there's no reason why we are not now. >> one of the other big things is that if congress fails to act, the reality is, the best way to protect consumers is to close the information gap. sponsors love big gaps in information. it's an is symmetry -- it is an asymmetry. they understand it, people get that it is hot and consumers are often the victims of fraud. we need legislative certainty to protect consumers and the investment in the united states. frankly even the innovators. it is something that, with we libraaunching -- with launching this is work we have , been doing for close to two years now. hopefully this will push the momentum to get the certainty that the market needs. >> what specifically with the bill do for a company like a facebook that is launching libra? >> what we go through besides making clear definitions of what counts in this space and what -- who do you have to work with here? the ftc, making clear these are
places that will have oversight responsibility and help develop the rules of the road. i am sort of a person who believes that we should get rid of unnecessary regulation. there is no reason to have out of date regulation on the books and there is a lot of it. there's a lot of a going back. you have old rules that don't make sense for the new world and that is what we are all focused on. how do we make sure we have a new framework where people can operate and keep the jobs and growth here? we have led the world in the apps economy in the united states. my fear is that other companies are saying since we don't know what the rules of the road are here, we are going to go elsewhere where we have the certainty and we are losing jobs, losing investment and businesses. we both agreed that we can't afford to have that. >> it sounds like it's on the market perspective, there is a bit of a regulatory turf war in terms of the tech sector and private sector. this bill would help alleviate it. >> absolutely.
the sec has issued pieces that are guidance but not rules and not binding. investors and companies that are launching startups don't have certainty that even something that is not initially deemed a security, will not eventually be deemed security. they are putting this out there to tell every company come check with us. you can't have company by company come check with you and then somebody change and you get a different thing. you don't need a patchwork of legal decisions. you need to know if you'd meet this criteria you are not a security. you might be a commodity or good or service. and tokens can represent all those things. congressman warren davidson of ohio and jeff of new jersey with our own kevin. coming up, our exclusive interview with the atlassian ceo. he disrupts -- he discusses how the company has disrupted the deal. this is bloomberg. ♪
emily: pot media tech and business mogul meeting of the minds of the conference. bloomberg's at hammen is standing by with the ceo of a company that has become an acquisition machine. take it away. with my canon works, co-ceo of atlassian. what are your impressions of this conference so far? mike: it is pretty amazing. it's like walking around inside the business books operating as a kid in university. it is a starstruck atmosphere. i have to remember that we have a real place here and we are to -- trying to do some reward. is the most interesting person you have spoken to mike: i cannot really drop names, but
i have been tempted to ask for my first or second selfie ever. guys put out something that caused a lot of stir. the m&a process was called inefficient, etc. how did that go down with your bankers? mike: nobody disagreed with our statements about the m&a process. they might have disagreed with our way of attempting to improve it or sollve it. it has probably been the legal firms that like it less than the bankers. ed: you put out the timesheet that it is free to use. there has not been any uptick that you know so far? mike: not as far as we know so far. we have done 20 plus deals and we are experienced at doing this. we have put down a set of terms that we think are very reasonable and fair on both sides. and if anything a little bit buyer unfriendly. prospect friendly.
which is the way we think they should land. the problem with the process is, you end up almost hating each other by the end of this bludgeoning lawyers back and forth. then you have to work together and it is a negative environment created. we followed a shortcut. it's similar to early-stage financing. anvertible notes, series notes around the world. people have tried to make that process easier. if you start using the standard doc people would know -- ed: let's talk about that. different. you have to get that stamp of approval. in 2010 you do not need the money, but you needed it for a thumbs-up. should this same thing happen vc's givehere the companies less power? mike: it is confusing from a vc perspective.
they are china maximize the speed with which they get their money, and how much money they give. they are not necessarily incentivized at that point to be entrepreneur friendly until the end of their journey with the company. i think they should see it as these entrepreneurs have built something great continuing the process on and having a good -- having it find a good home. people are going to pay with are what they are going to pay. i think they should look upon it favorably. it makes the world easier and more frictionless. ed: you're are one of the biggest tech companies that are not only not based there, but you are the co-ceo. mike: we are part of a bigger trend. ify from shop canada and sweden. there are number of companies growing up outside the valley. we benefit from having one foot inside the valley and one foot outside. the valley is amazing with its creativity and change the world
vision, which is great. but it does have this smoke and mirrors world. having a foot outside gives us a practical customer outlook. sydney is a big city. it has real customers. we have a big office in amsterdam and same in europe. in the having both organization has been a strength for us. ed: you said you don't have a salesforce product and it comes word of mouth and organically. being besides that you are, would it not make sense to add a salesforce? salesforce.have a it is bigger now than it has ever been. it is smaller than companies of our equivalent size. our goal is to make our self process efficient and effective for our customers at every point in their journey. we do have a salesforce for growing larger customers but not for acquisition. customer acquisition remains very low and
competitive. we see that in our economics. ed: emily, back to you in san francisco. emily: looking forward to more from you from sun valley. coming up, uber is betting big on driverless cars. won'te ceo says robots completely replace humans. he will tell as his view on the future of autonomous driving next. this is bloomberg. ♪
emily: just ahead of going public in may, uber announced it was spinning off its self driving car unit. atg into its own corporate entity. this after receiving a $1 billion investment from toyota and a japanese auto-parts maker. that was in a deal that valued the unit at $7.2 billion. how long will it be until uber is completely autonomous? with uber'st down ceo to discuss. >> no drivers. be 15 pluswill
years. i think it will take a long time. there is this drama around robots replacing humans. i think the reality of life is that the better thing is robots and humans working together. robots are very well-designed for replacing repetitive printable behaviors. most of driving is neither repetitive nor predictable. there is a subset that is. what you will see with our driverless program is that we will be incredibly careful and make sure that safety absolutely comes first. we are building our driverless program working with third parties within the context of a network where for example in washington, d.c., what are the 1% easiest trips in washington? the easiest trip in washington, d.c. may be avoid a roundabout or stay away from the airports. stay on areas that are very well
mapped. there are a set of maps that are incredibly easy to drive. we will get the machines to do simple stuff, and then we will have the humans do to discipline stuff and then that you will coexist for a long time versus the drama that the press reports. >> you expect to have some driverless or autonomous vehicles in a year or two? within the next five years. -- dara: within the next five years. there will be some driverless vehicles out in the market and i think it will be in a limited way. >> you spun off your driverless company for a separate company. why did you do that? dara: we created a separate company where we were able to bring in some investors are. and some partners. know, we have a
terrific partnership with toyota. another toyota company. it is very sean at manufacturing kits and sensors and other parts of the car. a really bring in what is about building these autonomous for very largele numbers. then we also brought in softbank as a financial partner. emily: bloomberg's david dara.tein with uber's ceo you can catch the full conversation tonight and tomorrow. coming up, facebook has ambitious plans to improve diversity but are they realistic? facebook's global chief officer tells us how the company is planning to boost the numbers, next. this is bloomberg. ♪
set bigacebook has goals to boost work first-ever city in its annual diversey report. the company announced plans to double the number of people employees globally over the next five years, as well as the number of black and hispanic employees in the united states. the company says it wants half of its u.s. work force to be from underrepresented groups by 2024. i sat down with facebook's global chief diversity officer, maxine williams, and asked why they are setting these goals now. maxine: there has been research done by very credible institutions to say that having goals is one of the reasons it drives change.
in conjunction with ford foundation has done a lot of work on why people leave technology. they have seen that having goals makes it different. one of the five things you should be doing. you want to do what is best practiced. we have been building for the last six years, machinery, the muscles, testing things. some things have worked and some have not. we are in a place now where we have the muscle to put the globalness and booze things further. emily: you are looking to get to 50-50 globally when it comes to men and women. do you have some secret, innovative plan that we don't know about that will make this happen in five years? maxine: i wish, then i would market that and never work again. no, we don't have a secret plan. none of this is magic. it is consistent attention every day being delivered. and equity did not come about organically. it was designed. we have this thing we can design deliver intervention.
it is getting better at what we now know after the trial does work. -- it is going to be hard. those goals are stretch goals. i am not saying by any stretch of imagination that i think we will hit that. hit goals.et we we will push on this to get as far as we can. emily: facebook's numbers are fairly average compared to the tech industry. i get asked a lot, even which euro samberg's leadership, who is a leader on women's issues in the world, why can't even facebook do better? why hasn't even facebook done better? maxine: there are a couple of things. there is a lot of stuff that we do own, and we have doubled down to address that. things like is there bias in the workplace? how do you of value a people with fairness? we are working on all of that. emily: how do you say that there is bias? maxine: everywhere.
humility is important for every company. for every group of people to recognize that we are not special. there is no fairy dust that we sprinkle on people in facebook. they are the same people that got ready in the morning. everybody has bias. you address that. on the other hand, having a leader that does model it helps us tremendously. seeing -- there is this expression you can't be what you don't see -- and seeing a woman who can be what we hope for which his leadership, influence and success, and has been useful. that is why we have seen women in leadership numbers have been the most evolved. emily: you also mention women in technical roles because those are important roles. decision about the products that is used by 2 billion plus people around the world who come from all backgrounds. if you look at those numbers, women hold only 23% of those prime technical roles.
black and hispanic, 5%. that another goal be getting to 50-50 for those roles? maxine: we are 100% focused on our environment, new opportunities and how we train. we have expanded our internships by many factors to get more in. but when you are pushing against a situation were only 18% of the people graduating with computer science degrees in the united states are women, how do you get to 50? emily: that some like a problem which many people would like to say is a myth. that is not just the pipeline. maxine: this stuff we own and we need to make sure we deal with the stuff we own. are we creating opportunities? are we fair with promotions? when you say can you get to 50% -- we have increased 15% five years ago to 23% women in technical roles. we have surpassed what would be an obvious market of
favorability of graduation rates. how much more can you do? get to 50, weo need to have a lot of comprehensive work, and we do some of that work investing in the long-term to get more people from underrepresented backgrounds doing technical subjects. studying computer science and computer engineering, data structures, algorithms. we work with universities, we build tools people can put them there. you can put in your zip code and see where to get training in your neighborhood. i think it is like all systems go. emily: i have made the argument that digital privacy is not just a women's only issue, but an issue like health care that women have an and eight view on her and women are more likely to keep their profiles private. proceed more risks online than men. it's pretty obvious that most of the products at facebook were made by mostly men.
do you think that facebook would have issues around privacy in particular if there had been more women at the table from the beginning? maxine: i think you don't know what you don't know. key thing is having more diverse perspective. having more commentary that every team will produce better results. we have seen examples now that we are increasing the diversity of our workforce of how decisions are changing and products are improving. baseline, yes, everything will be better if we have more diversity. emily: we interviewed a former facebook employee last year who said, african-american said facebook has a black people problem. it does not just affect black employees, it affects black users. the naacp calls for a boycott of facebook when they learned that russians used facebook to target african-american specifically in the 2016 elections. what is your response to that? maxine: my response is that,
there will be a distribution of experiences and responses to everything. my response is also that, in people issues there will always be a compact city of what is required as a company is to look at them head on and constantly try to improve the take responsibility of the things you can change. many people would say, i had an amazing experience at facebook. that does not mean just because a person said they did not, they are wrong. to consistent execution to have the best we can get. that's what we need to deliver. emily: will you admit that this impacts the product and decisions that are made? maxine: absolutely. we are not doing this for a beauty competition on how many numbers we have with everyone else. it absolutely impacts every decision. complex try to solve decision, the more diversity you have, the more you develop. everything is complex if you look at the scale we operate and
the meaning it has the people's lives connecting to human beings. we want that experience to be as good as it can be. emily: this goal, it is really exciting. it does put another target on facebook's back. today the fed chair got criticized libra, lawmakers curing your cryptocurrency plan. you have fake news misinformation issues, hate speech. you are pending with antitrust. why put another target on like yous back when, said, 50-50 you succeed and 50-50 you don't? maxine: because i want to succeed. i don't know if you succeed muicch if you don't risk anything. proud of the criticism if it meant we got to the excellence we want. emily: facebook's global chief diversity officer maxine williams. the u.s. has opened a trade probe into the french tax plan
to impose taxes on tech companies. it gives robert lighthizer up to a year to examine whether the plan would hurt u.s. tech firms and suggest remedies. the investigation is the same tool president trump used to impose tariffs on chinese goods because of the country's alleged theft of intellectual property. had back to sun valley to speak with the ceo of next-door. what she has to say about taking over as ceo in december after being the cfo of square. that's next. this is bloomberg. ♪
, we are so excited to have you here. she is the chief executive officer of next-door.com. next-door is a really cool local advertising medium. , what itbout next-door is and how it's unique to other social networks like facebook. about locals.all it is founded on trust. we have verified those are people living around you. from there, we want to be able to do three things. we want to keep you informed about your neighborhood. we want to help you get connected. most people do not know their neighbors. that is a huge problem. and the third is help you get things done. everything from helping find a babysitter, helping find a great event to go to this weekend. we are there to make sure anything you want to do in a hyper local fashion gets done on next-door. paul: how big is it in terms of members or cities and neighborhoods? sarah: we have 740,000
neighborhoods across 10 counties. there is not a community in the world that does not want to create stronger, safer communities. today we are in the u.s., but we are also in countries like the u.k., netherlands, australia and european countries. the world is our oyster. you can go anywhere. north korea, you name it. there will be a mom looking to find other moms. there might be a senior that is lonely that wants to meet other seniors. people have a breakdown at some point so they need a plumber. we view it as an open-ended opportunity. your company recently handed a capital raise of $123 million. valuation of $2.1 billion. talk to us about that raise what the proceeds are for. sarah: we were delighted with that fundraiser and one of the first things i wanted to do coming in as the new ceo was
make sure that you have the right balance to do everything else, -- everything else you want to get done. $2.1 billion, 122 million raised. a mixture of new investors coming in, but also current in ventures. in terms of what we want to do, three things. the first is continue to drive growth. we continue to have global aspirations. that helps us go country by country. second area is engagement. moreo we keep creating utility? you hire more engineers and they build more great product and they cost a lot of money to go out and hire. the -- the third area we are digging into is the power of local business. wasof my passions in life coming from where i worked before is, what can you do to help local businesses strive? when they strive, community strive. we are putting a big push and how we bring local and small businesses on.
paul: one of the big issues getting more play for social media platforms has been privacy. for nextdoor i know there has been issues about what information is shared between neighbors. how do you deal with the content that goes on your platform? sarah: that's a great question. i think it is something we have to make sure we are being very proactive about. i started by saying we are founded on trust. we do a lot to verify that you live in that house in the neighborhood. i would call it almost friction full on the process. on silicon valley. because of that it is not a made a person or a bot. it truly is your neighbor. once you are on the platform, it is your name and your address that is seen. it never makes everyone their best selves. when people are passionate about particular topics it can dget
intentional. having her name very it can make you your better self. going through things like racial profiling, we use a lot of design and we have worked with a lot of academics to really help people get into the part of their brain where they are truly thinking. we spend a lot of time talking about kindness. posts is whatnd builds social capital. aul: chief executive officer for nextdoor.com. emily: paul sweeney in sun valley. a satellite. already filling our orbit up with them. plans to launch thousands more to bring the internet to everyone. but, how will things be after that? this is bloomberg. ♪
online, but that's not the case. according to the united nations, nearly 4 billion people worldwide lack reliable internet access. companies like amazon and space are trying to change that by launching thousands of low orbiting satellites to try to get everyone on my. but, as astronomers see it, it is not all clear skies. starlight, starbright. wait, is that even a star i see tonight? in latethem netherlands may, objects trail across the night sky. not stars, not planes, but satellites. you could expect more scenes like this one. as the satellite race heats up with more launches on the horizon. program plans to propel nearly 12,000 satellites into orbit. the bezos problem has asked sec to approve 3200.
and a private company wants to launch 30 satellites a month by december. the goal is for these devices to bring broadband access to the roughly 4 billion people on earth who don't yet have it. >> you can see going forward that access to broadband is going to be very close to being a fundamental human need. emily: wall that goal may seem noble, satellites are designed to fly lower, leaving astronomers believing they will interfere with distant galaxies. the first satellites cost nearly $1 million each to produce. that costs $16.5 million just for space x to launch 15 satellites into orbit. investors are rocketing forward. $1.7 billion was invested into space companies in the first quarter of this year alone. that is nearly double the amount deployed one quarter earlier. with these satellites, the space economy, so to speak, appears ready for takeoff.
let's continue our look at how these new wave of satellites can bring the entire world online the one of the companies -- ceo of oneweb, a satellite company that has raised nearly $3.5 billion to date, that by softbank, richard branson's virgin group. if you believe internet access is a fundamental right, given the scale and pace at which you and other companies are operating, wendy you think that could be a reality? internet to all thanks to satellites? >> we are watching satellite starting in december. 30 satellites a month. 34 per month. we will have our first phase giving global coverage by the third quarter of 2021. we will be giving service in someplace in 2020.
it is lowly and see service and global coverage. one of the things that happens right now with satellite is that people get really clunky service. it's just physics. the geo-satellites are 36,000 kilometers away. ours r 1200 economies. everyone deserves the best .ervice whether you are in the middle of africa or the heartland of the united states. emily: what about the cost? it has been difficult to calculate the cost as space x launches. how much is the cost now to launch a single satellite, and how much will it cost come down in the future? adrian: one of the things that has been very exciting recently is the launch costs have come way down. we locked in our 22 lodges. we -- launches. we know that the launch cost has come down 30%. the rockets are getting bigger,
that means they can carry more satellites. they are more secure. we are looking at that trend to secure -- we are looking at that trend to continue. you are seeing cube sats. hours are the size of fridges. 160 kilograms. the space x ones are 220. people very much focus on a satellite. a satellite is not a unit of measure. it can be bigger smaller with more or less capability. in your segment you talked about us bringing down the satellite cost of $1 million per satellite. you have to remember that it used to be satellites would cross about 150 to $200 million and be these big things. what we have done is take advantage of all the advantages have goneart phones and applied it to industrial approach. we are doing it on the assembly line. we have factories opening in
cape canaveral on july 22. that coming down to a million dollars per satellite is a big deal. emily: i was on holiday last week stargazing with my kids and we saw what we thought was a shooting star, been decided it was too slow to be a shooting star and too fast to be a plane and that it was probably a satellite. elon musk has tweeted these thousands of satellites that are already in orbit, people see them approximately 0% of the time. that said, what about the concern from a strong rumors about space pollution -- from a ersong rumors -- astronom about space pollution? adrian: i think the most important thing is collisions and being responsible in space. i think one aspect is the visibility. our satellites at higher ,ltitudes with 1200 kilometers
versus their satellites at 550. hours are not visible. the other thing you have to pay attention to is that we are working with governments in -- governments and we are thought leaders on this in making sure the satellite disintegrates when it comes back into the atmosphere so that you don't harm anybody. if you and i get into a collision on the street with our car, we walk away from that. if two satellites collide at their, they will fragment, then they pollute the area. it is really important to be responsible up there in space. emily: you are in this race with elon musk and jeff bezos, who are nothing but ambitious. adrian: we will be first with global coverage. technology between the companies with anything in telecom will tend to average out. there will be solutions. someone have an advantage versus someone else.
the first mover advantage means we are working on getting our distribution. my sense is that amazon will take a slower approach. are clearly onn a very aggressive cap. we are -- path. we are charging ahead and feeling very confident about what we are doing. emily: a different view of the modern space race. thank you for sharing your work with us. that does it for this abuse -- this episode of "bloomberg technology." be sure to follow our global breaking news network to talk on twitter. -- tictoc on twitter. this is bloomberg. ♪ we're the slowskys.
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