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tv   Bloomberg Technology  Bloomberg  November 8, 2021 5:00pm-6:00pm EST

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>> from the heart of where innovation, money and power collide in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang and this is "bloomberg technology." the votes are in. the twitter votes. elon musk's followers voted the ceo should sell 10% of his stake in tesla, worth about $21
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billion. will he do it? another company heads to the meta-verse. amd lands meta-as a new customer. we will talk to the ceo about teaming up with the company. crypto's new milestone, the market for digital assets has quadrupled from 2020 but will the momentum continue? we will discuss. all of that in a moment. let's get a look at the market. u.s. stocks edging higher with the s&p notching its longest winning streak since 2017. pretty good death has the -- kriti gupta has the report. >> the s&p 500, closing higher but just barely. we can almost call it flat. the nasdaq, in the red. just a little bit of a marginal move and the faang index, big tech unchanged. this will be positioning for the
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cpr report wednesday. big tech today was split. tesla, apple, amazon in the red, microsoft and others in the green. when that happens, you see the market play a tug-of-war. what didn't was cryptocurrencies, up 7.8%. that is where you saw the bit in the stock market. marathon digitals, microstrategy's outperforming. let me show you a chart about big tech because the $2 trillion club made some news. alphabet almost closing, hitting $2 trillion, then closing at $1.98 trillion, almost nearing apple and microsoft in the benchmark, something to watch in the days ahead maybe. maybe alphabet will close above but mark. let's take a look at tech subsectors. a flat day from the indexes but semiconductors and the golden dragon insect -- index, very tech heavy, those outperformed.
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let's get to the breaking news earnings stories after the bell. let's go to ed ludlow. >> robinhood down around 3%, disclosed security breach. 5 million customer emails accessed, two million customers full names accessed, no access to credit card numbers or account numbers or social security numbers but that is worrying for robinhood. a stock that was up, your eyes don't deceive you, that literally says 30% on the screen. roadblocks -- roblox surging. it's sales up 28% year on year. staying power for the videogames market coming out of the pandemic. you were talking about amd, big move on monday, up 10%, the biggest gain since july of last year. they won the deal for the -- for meta-, and i want to touch on
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tesla. tesla down 4.8 percent, biggest drop since june. at one point debt -- down 7%. i will tell you why. we will have thoughts about that. emily: thank you both. we have someone to tell us why. elon musk, back with the tweets, the tesla ceo and largest shareholder tweeting out a poll asking twitter whether he should sell 10% of his stake. they voted yes. what does that mean? let's dive into it. why did he do this? >> frankly, elon musk is sensitive to the fact that he is the richest person on the planet and he is the target of people who want tech billionaires to be taxed. he wants to be seen as doing good for the world and he has been modeling a sale of stock for some time. emily: is this something he had planned?
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i think he has been planning it. he has stock options that will be expiring and he will have to pay taxes on that but he is talking about selling a 10% stake. maybe he sells the shares and buys them back, maybe they are at an all-time high, why not take money off the table and fund his foundation? he is probably thinking about his legacy and philanthropy. it is something he has thought about for a while. emily: what does this mean for the tax debate? is there some amount of benevolence here? is this something he would have to do anyway? >> it depends on the reconciliation bill. taxing billionaires was not part of the package that has yet to be passed by congress but i imagine he wants to do whatever he will do with his stock sale before, to get the lowest tax rate possible. i think he will pay taxes on this sale, and that could be good for taxpayers, but maybe he is dodging a bigger tax bill down the road. emily: what does that mean for tesla shareholders? the more he owns, the more
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shareholders might believe he is invested in the company. >> you saw some split among his fan base because he always said my money is the first in and the last out. the idea of him selling his causing consternation among the devout. others are like, he deserves it. he built this company up to be a big thing. he should have money. he is not really cash rich. his wealth is in the stock. emily: he is certainly not poor. we are seeing, seems to be more effort on his part to appear more generous with the world hunger, the offer to provide billions of dollars to help solve world hunger if the you and -- if the u.n. can prove it. >> he is the wealthiest person in the world but he always said his money will fund spacex's mars mission. the foundation makes very small grants to things like his brother's company.
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he is not known for philanthropy, although he has notions of being involved. he pledged $50 million i believe the st. jude's hospital, but he is talking about world hunger, but he hasn't spent a lot of his money yet and he hasn't committed yet. emily: just because twitter says yes doesn't mean he is going to do it. >> correct. this is theoretical. the twitterverse has spoken but until there is a filing i won't believe it. emily: dana hull, we will be watching your notifications. thank you. mcafee agreed to be -- diane investor group, all cash transaction with the equity value of $12 billion. that takes the online protection provider private. we will have more on that later this hour. amd racks up a big win with meta , the company formerly known as facebook. the ceo joins us next talk about
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what it means. what she thinks of the meta-verse and her outlook on the chip crisis. this is bloomberg. ♪
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emily: shares of advanced micro devices ending up more than 10% after the company announced it won meta, formerly known as facebook, as a partner. this come on the heels of third quarter earnings that were very strong. joining us, amd ceo and president lisa su. how big a win is landing
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facebook, or i should say meta, as a customer? lisa: it's great to be here with you. i would say it was a big day for amd. we had, we talked about a range of things today in our data center. we talked about new products in terms of our new cpu product and gpu products as well as the fact that 10 of the largest hyper scalars including meta are using amd. we are excited about it. this goes to say a little bit about our long-term focus on the data center and wanting to make sure we are working and partnering with the most important companies in the world. emily: you are working with so many of these hyper scalars, including not just meta but microsoft and amazon and google. give us more color on what it has taken to win over these big customers and cut into market share of your competitors. lisa: this has been our focus
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over the last four or five years, really to build up the capabilities in the datacenter. we see the data center as one of the most exciting, if not the most exciting markets in semiconductors. there is a massive need for high performance computing and each one of these large hyper scalars are doing such unique and innovative things. we are honored to be partnered with all of them. i think it says a lot about the technology you need and the multigenerational growth you need. doing able to partner with the best means you learn how to make your roadmap stronger going forward. emily: i want to talk about meta and the meta-verse. people don't know what the meta-verse is. how big an opportunity do you think the meta-verse will be? do you see, what do you see at amd -- as amd's role in it? lisa: if i take a step back and
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talk about high-performance computing and what we believe and what i believe is that there is this megacycle around needing more computing in many different applications. whether it is collaboration applications, research applications, analyzing massive amounts of data, yes, the meta-verse is the next thing on top of it. believe it is a large opportunity. if you look at high-performance computing in its entirety, i think the meta-verse is one of those areas that many people are talking about in terms of, how do you bring together virtual reality and mixed reality together with all of the collaboration we are doing now? i think we have new expectations of what life is like post-pandemic so it is exciting. we view it as an opportunity where you need high-performance cpus are microbicide -- microprocessors and gpu's and
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machine learning and visualization, and really bringing that together. we are unique in that we do look at the end to end use cases and work with our partners on making that happen. we view this as a tremendous opportunity in high-performance computing. emily: you have new gpu and cpu offerings. i'm curious why we see you broaden out some of your offerings when it is that focus on execution that has served amd so well. lisa: we are excited about the data center overall. when you look at all of the expansion, it is an area of growth. as the markets get larger, you see more specialization. no question, our product family, our data center server processors have done extremely well and we will continue to be very aggressive on that roadmap. but there are these large use
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cases around high-performance computing and ai and those need gpu's. we can put them together in an efficient way in a system. we announced today we are broadening our offerings to include a cloud focused processor line verses, let's call it more general-purpose line. this is just this expansion of computing allowing and enabling us to invest more, and to really try to tailor and partner with what we think our customers and partners will need going forward. emily: how do you see your next design for datacenter chips shaking up the competitive landscape? for folks like intel and users of technology that are trying to break in? lisa: i think the key in this market frankly is execution. strong execution, generation
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after generation. our current generation processors are fantastic. we are very excited about the adoption. we announced our third quarter earnings and we doubled our server processors and our datacenter processor sales. that tells you will little bit about the momentum we have. genoa is the fourth generation. it is very strong. it builds on top of the capabilities we have with malan. we added a bunch of new i/o features, expanded the amount of performance and customers can do more. with the same footprint. datacenter folks are all about total cost of ownership and how much can they do in a given footprint, so the fact that genoa is another big step forward, we will use five nanometer technology, lots of new architectural features, we are excited about genoa. emily: you seem to be planning for a bigger amd. can you get the supply to match
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these ambitions and help you carry them out? lisa: no question, we are planning for a bigger amd. if we look at our trajectory, the last two years have been tremendous growth. we just guided 2021 to 65% year on year growth. when we started the year in january, we thought it was 37% so we have been able to add a lot of supply as well as, there is very strong demand for amd processors. we are working closely with all of our supply chain partners. there is an incredible amount of work going to ramp up overall supply chain capacity and we feel good about the trajectory of what we see going into 2022 and beyond. these are long-term partnerships, so it is about, how do we plan with our customers and supply chain, not just for this quarter or next, but for 2022, 2023 and beyond to
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make sure we can meet all of this incredible demand that is out there? emily: the chip shortage in supply issues seem to be a continuing crisis for everyone else. i am curious how long you think we will see ripple effects of this. will this continue to reverberate across industries for years? lisa: i did ask that a lot. i think -- i get asked that a lot. i think the environment is such that there is a lot of capacity and a lot of investment being put on line, so that is positive. we saw more growth and capability towards the end of 2021 than earlier in the year. i think the first half of 22 is going to be pretty tight that we will see improvement as we go into the second half of 2022. i feel confident the semiconductor industry will respond to the challenge and every quarter, it will get better going forward. emily: it is hard to not keep
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asking because the situation continues and keeps changing. i appreciate you giving us an update every time you come on the show. you have a strong quarter, great third quarter. as you look to 2022, what will be the defining trends that will drive amd growth through the next year? lisa: i think as we look forward, the most important thing is, we are in the right markets. it is a very exciting world, in high-performance computing. if we looked at the total market size, maybe 18 months ago, we might have sized it at about 80 billion or so, but we now see the market opportunity upwards of 100 billion. there is a lot of need for computing and computing capabilities. from an amd standpoint, i think our product portfolio is the best it has ever been and it
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will only get better. we are excited. we have a slew of products we are launching in 2022. we will talk more about that over the coming months. our goal is to continue to partner with the best brands in the industry and make sure we are providing them the best solutions. i think it is a great environment for us. we will work hard at satisfying the demand, but i think we are optimistic about 2022. emily: it will be interesting to see how much the meta-verse is prop -- part of that growth. i'm curious to see whether you have an idea of when we will see this new universe really come alive, especially for the mainstream. lisa: i think people are doing a lot of experimentation in the area, and as i said, there are announcements from a number of companies. we will see things come together incrementally over the next few years. i like to think of the meta-verse, it won't be one big
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bang that you will see everything come out. you will see a products building on each other and capabilities building on each other and the fundamental underneath that is, you need great high-performance processing technology, which is what we are working on. emily: amd ceo lisa su, thanks for sharing those new products and that view of the future with us. coming up, tencent making moves to circumvent china's crackdown on videogames. we will tell you how, next. let's take a look at paypal, the company low weight -- lowering its guidance for earnings after ebay accelerated a shift away from the payments giant. paypal inked a deal with amazon to allow venmo wallets to be accepted on the e-commerce site. this is bloomberg. ♪
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emily: a few stories we are following, softbank's ceo says the company will buy back as much as 8.8 billion dollars of its stock when it comes out to about 14.6%. this after a decline in the value of its portfolio. this led to a record loss in the vision fund investment unit. shares have slid more than 40% from their peak in mid-march. tencent pulled off a pair of successes with its league of legends franchise. it held a massive e-sports tournament that drew more viewers than ever before. it also premiered arcane on
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netflix, garnering 130 million views in china. tencent is trying to cope with china's crackdown on the videogames industry after saying kids could play about three hours per week, which caused stock prices to drop for tencent . toshiba is considering splitting up the company as it looks for ways to strengthen shareholder value. the japanese conglomerate is reportedly going to divide itself into three companies to focus on infrastructure, devices and semiconductor memory as early as 2023. toshiba has been in turmoil with shareholders over the direction of the company and whether it should pursue going private. coming up come first facebook, than microsoft bet on the meta-verse. we will be with the former head of amazon studios. his vision for how big the meta-verse will be and who will own it. that is next. this is bloomberg. ♪
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emily: welcome back. let's head over to the markets where ed ludlow has news of the mcafee deal and what it means. >> a blast from the past. it is something we rely on, antivirus and security software. i remember my parents putting mcafee on my desktop when i was a kid. a buyout from a consortium valuing the company at $14 billion, including its debt. let's bring out the details. the consortium includes canada's
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pension plan, abu dhabi's investment authority come across point. 26 dollars per share is a hefty premium on where mcafee crows -- closed on friday. they will have 45 days to consider it. they can look elsewhere but this is a good history lesson. founded in 1987 by john mcafee, later sold to intel in 2010, intel spun it off in 2016 and ultimately the company went public in october 2020, just over a year ago. you can see how it performed over the last 12 months. reasonable gains, around 26% for the year, so we are coming full circle and we take it private again. this shows the appetite that is out there for software companies. emily: thanks much. it is all about the meta-verse, but should it be? optimists believe how you learn, work and getting entertained
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will change dramatically while creating new opportunities for advertisers, investors and creators. for more, we will bring in matthew ball, former head of strategy at amazon studios, should talk about the opportunity and the meta-verse. he was talking about this before facebook changed its name. so much has changed in the past couple weeks. a new name for facebook, obviously making this big bet, you have microsoft making its big bet on the meta-verse. do you see this as a world where one or two companies will own it, or will it be bigger than that? matthew: it will be so much larger than that. we can look at the internet as an example. the digital economy is assumed to be roughly 18%-20% of the world economy, $87 trillion. the truth is, the big five tech companies historically, facebook changed its name, was 10% of that. it depended on different developers, semiconductors, net working and infrastructure
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companies. the meta-verse will be similar. emily: can facebook build a competitive platform that younger users want to join and be part of? can they get beyond these reputational issues and trust issues? matthew: can they? certainly. this company is spending more on this area than anyone else on earth. the founder is in control with extraordinary conviction and re-billion monthly active users, 2 billion daily active users. it is difficult to say they can't solve that sort of problem, but that doesn't mean it will be easy. in particular, facebook has a bad reputation that spans a decade with developers. ultimately, developers will build the meta-verse, developers will be required to attract users and that requires a skill set that facebook historically hasn't thrived in. emily: you see facebook, microsoft and amazon, all of these companies talking about the meta-verse.
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will this be a place where big tech companies get bigger or will there be upstarts? and new players that can take on the companies that own the internet right now? matthew: conventional wisdom would suggest we will see some of today's leaders thrive in the next-generation internet or the meta-verse. in particular, we will see new companies come to the fore front. at&t and aol, the consensus was that it will -- they would lead. none of that happened. when we look at the current state of the meta-verse, some of the thriving companies today have sub-$50 billion market caps . i year-end. half ago, they were sub-five. roblox blew it out of the park today. those companies have a lot of headroom and they have many different capabilities that today's tech giants do not. emily: this question came in, will we be talking about
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multiple meta-verses or is there just one? matthew: it is a taxonomy question. most people believe the answer is that the meta-verse is the definite article, like we don't say there are multiple internets, there is no facebook internet, google internet, there is the internet. that seems to be the most likely vision of the future for the meta-verse, which means interoperability but that may come down to how language is used. if we adopt the meta-verse as a platform specific definition, we will wind up with multiple meta-verses. it is not a question of verbiage. emily: it has been on fire. i'm sure some of this news has helped. talk to us about the future. where is this going as a bet for investors? matthew: the founder and ceo of insidious -- of -- believes the meta-verse economy will exceed that of the physical world, $87
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trillion. if you have more modest expectations, precedent from the digital economy, the mobile internet suggests this is a 10 -- 10-30,000,000,000,000 dollar opportunity that will manifest in a decade or decade and a half. across the compute's, the virtual platforms, and other infrastructure providers, our etf is designed to provide a diversified portfolio of exposure to those opportunities and we are delighted that investors have been excited. we announced over $250 million has been amassed since june 30 and we had another 3.5 million shares, 50 million dollars in value. enthusiasm continues to grow. emily: i have to ask about roblox. they have this 72 hour outage where their entire universe goes off-line. they report these strong
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results. what does that tell you? matthew: this is the true secular and generational shift. if you go back to 2000 eight, facebook had 300 million ma use. today, roblox has 207 million. that is up 5% year-over-year against challenging comps and despite the outage we see significant growth. i believe as do many, that we are heading towards a future in which hundreds of millions, if not billions of people around the world participate in these virtual worlds and as a result, it doesn't matter if it is one company, one outage, a quarter in which kids are growing more outside than ever or returning to work. this trend will stay. emily: netflix gains some movement as well. how optimistic are you? who does this threaten? matthew: the truth is netflix is an incredibly high-performing company that takes a very long
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time horizon to change. they launched their streaming platform in 2007, they launched their original banner in 2009. commissioned their first series in 2011, aired it in 2013 and it wasn't until 2018 that most of -- it is clear reed hastings nose house -- knows how to be judicious in his investments and expansions. that plus the fact that we are on the cusp of ar, vr, mixed reality environments, tells me they have an opportunity to thrive in this category and they have committed themselves to achieving that over time. emily: matthew ball, appreciate you stopping by. the crypto world takes a 3 billion -- $3 million market cap, hitting all-time highs just monday morning.
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we will look at the rally on how digital currency is taking a role in the larger creator economy. that is next. this is bloomberg. ♪
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emily: the crypto market has been on a tear, recently hitting a 3 trillion dollar market cap. the value of the crypto universe is quadrupling from a 2020 year end value. excitement isn't just around the coins, but the overall growth of decentralized finance and nft's and what this holds for the future of the creator economy. we bring in lee, you recently
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launched a one hundred town million dollar -- >> very -- internet platforms will be built, operated by users and we think ownership creates powerful incentive alignments and will allow networks to grow bigger, faster than they could have under the centralized model. we think crypto tokens uniquely and powerfully enabled that by allowing value and ownership to be distributed much more widely among a larger base of participants. this exists on small cap scale -- small-scale. if we think about the large platforms that have been built over the last decade in the
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creator economy, a lot of users have been left out of that ownership equation. our thesis as a firm is to invest in next-generation platforms that will distribute ownership to participants and create larger networks than what were previously possible. emily: take us 3, 5 or 10 years out. how is the creator economy different than the creator economy today that is owned by the instagram's aunt tiktok send you tubes -- and tiktok and you tubes of the world? >> i think we are at an interesting moment at the evolution of the creator economy. it has existed for a long time, ever since the first user generated content platforms. there have been craters on the internet. what is new and different right now is that a lot of those creators are seeing themselves as entrepreneurs and small business owners and trying to carve out a space for themselves online and monetize the attention they have from their
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audience in different ways by offering different types of products. today, that is existing on the terms of a few centralized dominant social media platforms. creators aren't in control of their content, their data, their end-user relationships, how they monetize, so my hope is going forward him and i think what is enabled by crypto is the creator economy in which creators are able to be in control of their own destiny, where they are able to set the terms of how they monetize, how they own their content. they will be able to hopefully take their data with them and not be pulled into any one centralized platform. i think that is exciting and unlocks so many new possibilities for creators. furthermore, i think in that world, it is not just about the creator economy, it is about the community economy where creators can allow their fans to
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participate in the upside of their careers and in that world, the lines between the creators and the fans start to blur and everyone is able to share in their success. and be very aligned towards this us us -- the success of the community. emily: you have been vocal about the rise of nft's. how do you expect that to shake out? what does it look like next year? >> in general, we think nft's are a really broad new type of digital content and i think they will encompass a lot of different types of assets on the internet. essentially, everything around us in the physical world is a non-fungible asset and i think we will see that play out in the digital world. right now nft's and all the transaction volume is around nft's of digital art and collectibles and people purchasing high-value
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collectibles. i think in the future you will see a lot more use cases for nft's potentially in gaming or as access to special experiences. we are excited to see all of those new use cases play out in the future. emily: what is your take on the recent rally? does it keep going up? does it matter? >> it is exciting to see, just as a participant in the ecosystem, but at the end of the day, we are running a long-term venture firm. we take a long view on all of our investments. we are not day traders. we are investing at the very earliest stages of use companies' existences, and we are really therefore kind of immune to have been ups and downs in the market, and don't pay much attention to it. the most exciting projects will take multiple years or decades to play out, and we aim to be the long-term partners to those builders. emily: variant fund co-founder,
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thank you so much for joining us . coming up, merger monday. we are highlighting one of the most recognizable names in cybersecurity. that is mcafee. details on the $14 billion acquisition. marbles new squad of superheroes secure the top spot at the box office. "it turned's" taking in -- " eternals" is about superheroes living on earth. it stars some -- salma hayek and angelina jolie. this is bloomberg. ♪
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emily: a quick look at the details emerging from the amc earnings call, amc is exploring if it is possible to create its own crypto currency. you heard that right. amc saying it is in conversations about nft's related to major film titles. these conversations are preliminary at this time. we were just talking about how big the market for nft's has become in the last three quarters. we will bring you more details as we have them. the social network that connects neighbors, trading again under the ticker kind after emerging with a special purchase acquisition company. shares of nextdoor, ending higher. the ceo says her focus is on the long run and not the stock price. >> next door equals
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neighborhoods. we believe we have a global opportunity on our hands. we think we are doing it for the right reasons. we are all about purpose and making it a kinder world, but we know we have a great business on our hands. lots of data that allows us to do an ad centered model and we are excited with the business is going. >> it has been getting a lot of capital into the business. talk about where you will spend that and what will be the first order of business. >> it was a funding -- fundraising opportunity. where we are going with that investment, number one, is to continue to develop growth and engagement. more neighbors coming to the platform and as they do, how do we engage them more? that involves ongoing investment in data science, machine learning, when you have a lot of data you want to make sure neighbors are getting the best experience. second is our ad platform and what we are building for small local businesses. finally, international. we are in 11 countries.
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we know we can go global. >> one thing happening now in the social media space, it has moved toward social commerce, slightly self-reg. how does a company like yours look to play into that and does it see itself as a potential target for someone else? >> on the social commerce front, we have a high and value. when people come, they come to get something done usually locally and they stick around. that makes for great audience when you think about things like social commerce. for us, it is about things like services so people come because they want to find a local plumber or contractor or babysitter, and they convert fast. we do well for advertisers. and bottom of the funnel, we absolutely see a way to embrace even more were social commerce is going. i came from a payment platform, and i think next-door is a
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valuable site for all of this. >> you came from square. i want to take you back to the first question, the pop in the stock today, breathtaking. i'm wondering how much of a role you are playing in that. clearly a huge one but your history is well known to wall street. they know and like you. how big an impact is that having? is that the lesson learned here, that if you have that kind of management team in place, it will work? >> in the end it is a fundraising opportunity. you have to decide if the management team, do you need the proceeds? if you raise them can you invest them in an roi positive way? we felt that. the way we chose to go public, we wanted to optimize what was out there in the market. we found a great partner in coastal ventures. we worked together at square for seven years and i trusted him and i know he is bringing a lot of good long-term strategy alongside being a great
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recruiter. now it is about execution. what the market loves is the business we have built to date but they understand the opportunity i had of us area that is what got me excited. we don't look at stocks. stocks are one-day actions. this is all about the long run. the market will be a weighing machine. we need to make sure we are building a great business to keep building those fundamentals. emily: next-door's ceo there. mcafee going private again. a large investor group, looking at a $14 billion deal for the cybersecurity company. for more, i'm joined by leanna baker who deal -- leads are deals team. why is mcafee thinking about going private now, again? >> it is the gift that keeps on giving for bankers. the company has gone public twice and been taken private twice. i'm hearing that since the ipo last year, the company hasn't really been valued for being more than an antivirus player
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musso may be in the private markets, it will get that attention and care it needs and better valuation. >> talk to us about the history. i think that certainly adds to the story of why this is significant. >> what the company would say is that john mcafee, who, that is a well-known story, is not involved in the company anymore but definitely a huge deal making history. intel acquired the company in 2010 and since then, it had been carving out parts of it, bringing in private equity. the latest iteration was the ipo last year. the ipo price was $20 and the company is going private for $26 so you get the idea that maybe the public market wasn't the most welcoming home for mcafee. there has been so much tech dealmaking this year. it is kind of part of this private equity firms looking for targets and this fit the bill. emily: it has been a busy year
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for tech dealmaking. what can we expect? >> there are many cybersecurity targets left. norton lifelock is one that is public and they did a big deal earlier this year. it has been a banner year for tech deals. i want to touch -- i'm trying to figure out what can be next but at 14 billion dollars, this does take up a lot of the financing in the market. there is a big equity check here. we hear the market could handle a lot more deals. we could be headed for $5 trillion in global volume. the sky is the limit for dealmaking, whether it is private equity firms or others. emily: we will watch for more. thank you for stopping by. that does it for this edition of "bloomberg technology." tomorrow, we will be joined by blue apron's ceo and the ceo of the health tech company keller.
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i'm emily chang in san francisco. this is bloomberg. ♪
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haidi: hello and welcome to "daybreak asia." i am haidi stroud-watts in sydney. shery: and good evening from new york. i am shery ahn. the fed warns risky asset prices rises makes susceptible to bigger crashes. it also flags crypto and the china property sector.


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