google maps, google pay. a lot of our journey to bring google play to more people is playing out in this region is -- in asia as well. i'm excited about cloud. the companies there are transforming -- very exciting for us. a super dynamic region that i feel like we are learning at google being in the region. so, i think it will transform. the first 10 years i would've said we brought it to apac. over the years we are starting to build things there and some of our future global products will be apac first. emily: you cannot talk about it without talking about china and you're facing stiff competition from chinese tech giants there. what should u.s. policymakers know about competing with china? sundar: there's a lot of conversations about u.s. and china. a combination of fear. ai and quantum computing where we are investing a lot. chinese companies are neck and neck. what i think about, i'm encouraged by the news coming out of -- about the u.s.-china agreement on climate. to me, while we talk about all the areas

emily: what are the chances google search will ever come back to china, or that google cloud whatever come back to china? sundar: we don't provide most of our sign in services in china. i don't see that changing, but there are areas like ai and sustainability. there will be opportunities for us to work together. through cloud, we will support multinational companies, so maybe there are opportunities to work there as well. emily: that was alphabet ceo sundar pichai speaking on behalf of of the bloomberg new economy forum. we will have the full conversation of the interview airing november 29 on the latest edition of "studio 1.0." coming up, crypto influx as bitcoin and ethereum both retreat from last year's highs. this is the ftc gets aggressive in pursuing crypto regulation. we catch up with the cofounder of ethereum and a founder of a blockchain company, next. this is bloomberg. ♪ emily: cryptocurrencies have suffered a broad retreat from recent record highs. bitcoin briefly dipping below 60000 and ether touching its lowest level this month. a coin tracker says the global market's

the google model is different. it's information and search and question and answer and giving you better answers. my guess is the leadership will be in other places i don't know. emily: i would like to end on tiktok. he talked about the upstarts that are levying these challenges to the incumbents. tiktok has these powerful algorithms that are very controversial. china may well have insight into these algorithms. i'm curious if you are concerned about the rising power of tiktok and what you make of it? eric: tiktok is super impressive. this group out of china figured out a way to build a new kind of entertainment and they also developed a new ai algorithm. the social network algorithms were based on who your friends are. tiktok's algorithms used your preferences and the world you choose to live in as opposed to your friends to make similar recommendations and they have done it well. now, they are really driving a new form of entertainment. that's amazing. i don't mind that at all. what i do mind is since it's a chin

google is facing a lawsuit from the justice department over its search business. we reported not too long ago that the doj is looking into its advertising business, so the more that drumbeat increases for these tech companies, the more pressure they are under to make that move and essentially spin off their businesses. emily: ok. thank you for your viewpoint. meantime, morgan stanley says the meta-verse will only get real when apple decides to join. facebook and google have been investing in artificial reality, but a note says mass-market adoption of either technology will not happen until apple enters the race. it estimates the hardware market for new gadgets could be $100 billion by 2030. coming up, when one door opens, another closes. zillow leaving the home flipping market. i have a conversation with the cfo of open-door about how it can succeed where others have failed. this is bloomberg. ♪ emily: zillow may not have made the home flipping business profitable. opendoor has. more than 15,000 homes in the third quarter, a 79% increase. zillow ending its flipp

. >> what about google? google made some pretty bold targets. >> google was very early and mashing all of the electricity usage with the users. they intend by 2030 to have all of their energy needs select -- directly supplied by renewables. no offsets or greenwashing, they will use geothermal energy so that every google query you ask about can be powered with renewable energy. they are also building wide range of tools for municipalities to do planning of their transit systems and even for individuals on google maps to choose the most climate from the path to get something done. >> what are your big takeaways from cap 26? is enough being done on a global level? >> when greta thunberg says cut 26 is a lot of blahblahblah. she has a point. i am very impressed by what the cop conference agree to do around nothing admissions. also, it is important, cop is not over yet. the u.s. and china did something really worth noting. they issued a memorandum of cooperation which identified five areas in which the u.s. and c

we know that you have sued google. how is that progressing? >> to be clear, google is still our partner. we support youtube music. we continue to work with them. that's part of existing in the tech industry. the partnership. sometimes, there are issues you can't resolve through regular negotiations so we are very confident, we are very -- head of positive ruling in august and tomorrow, we should get an update on the next step in that procedure. it is something we are very confident in. we invented the category and we believe that we need to stand up for all inventors in smaller companies in the face of anyone trying to trample on our intellectual property rights. caroline: it's interesting that you are able to disassociate. how do you still have a good working relationship with the likes of google when it does seem to have got relatively personal? >> it's mutually beneficial at the end of the day. some of those things they want to be in, the homes that sonos is in. we want to offer customers all of the services. that's one of our strengths. we

emily: what about google? google has made both targets. >> google was very early in matching all of its electricity usage with the purchase of renewables. and they have done the boldest thing of all, and that is to say they intend by 2032 have all of their energy needs directly supplied by renewables, no offsets, no greenwashing. they will use solar thermal, geothermal energy so every google query you ask about will be powered with renewable energy. they are also building tools for municipalities to do of their transit systems and for individuals in google maps to choose the most climate friendly path to get something done. emily: what are your big takeaways from cap 26? -- cop 26? are you seeing more business as usual? >> when greta thunberg says cop 26 is a lot of blah, she is right. pledges are fine but we need action. i am surprised by what the conference agreed to do around methane emissions. cop is not over yet. just today the u.s. and china did something worth noting, they issued a memorandum of coopera

you mentioned other companies, amazon, google, microsoft. amazon was selling their technology to law enforcement, which created issues. they paused that a few years ago. i think this is a way for facebook -- meta-, to put pressure on others in the industry, probably try to get ahead of potential regulation. we have seen lawmakers in the usa, we need laws, we need rules around how this technology works. this is facebook getting out of the game on the earlier side so that when there are these laws, when there are rules that come about, they are not necessarily reacting in the same ways their competitors will have to. emily: the company says they will delete one billion facial templates. how can we be sure that that information will actually be deleted? >> it's a great question and i tweeted about this story, and all the replies were essentially, ok, sure thing, facebook. it goes to show you how little faith there is that the company that will make a big public announcement like this will follow through. we will have to expect them to essential

and google. just another day on bloomberg tech you don't want to miss. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. haidi: welcome to daybreak: asia. sophie: we are counting down to the major market opens. shery: i am here where global leaders are gathering to discuss challenges facing the new economy. let's get to the markets.

mark: one of my worst stock calls, i had to sell on google at the time of its ipo right after the first earnings of the stock. i was referred to as having a three-egg omelette on my face. one of the wiser tech strategists was right. it was a moment for me to step back and think about, where is the real product innovation going on in the sector? leave aside valuation. valuation is super important. but to me it is almost the last thing you should do. you should find a high-quality asset and then think about valuation. one of the mistakes i made early on was focusing on valuation first. find a good asset and then think about entry prices rather than going the other way. caroline: bring it to the here and now, mark, because it is very hard not to look at valuations when you had the run-up in stocks that we have. when you have the likes of tesla take a nosedive to the tune of 11%, they all have idiosyncratic reasonings around that. what now of valuations? is now the good time to still be looking at growth names? mark: i think so. you can always find dislocated stocks. that was one of my less

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 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 roadmap you need. being 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. a lot of people still 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 -- as amd's role in it? lisa: if i take a step back and talk about

google said some problems were caused by bad network configurations, and that they will publish an analysis after an investigation is completed. coming up, how slack is adapting its platform to meet the needs of an increasingly digital environment. we will speak with the slack ceo stewart butterfield following day one of its frontiers conference. this is bloomberg. ♪ >> back to the very early days of slack, we came up with the mission to people's working lives simpler, more pleasant, and more productive. part of that was always finding a new avenue to bring software and systems and tools people use into the environment where the discussions are have ring and the decisions are being made. emily: eight years after launch, messaging platform slack is one of the leaders in business communication. and as whole companies now shift to remote work, businesses across industries have realized the need to digitize operations. let's talk about how slack is adapting to these changing trends. joining me now is ceo and cofounder stuart that are failed. -- stewart butterfield. you just kicked off your co

we are going to bring you a special edition of studio 1.0 with the alphabet and google ceo. i'm emily chang in san francisco. this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call...

is it through google, or word-of-mouth, or is it through peek.com? ruzwana: one important part of it is giving customers a great customer experience. we have about 4 million reviews on our platform. the merchants that have the best reviews are the ones that have the most votes coming, because of word-of-mouth, because of people discovering them online. i think that what we see, the majority of merchants on the website. it's the -- it's for local tour agencies and hotels. it's a little more fragmented in the space. you do need great technology skills to manage all those challenges. caroline: are you feeling growth mode upon you as we enter the holiday season? where do you need to invest most in your business? ruzwana: first and foremost, we are tripling our team. we want to make sure we are in a position to make the most of the travel come back. as you mentioned, people are saying they want to travel again. we saw drop off in the early part of covid, but things came back and a strong way, so we are focused on that. during covid we helped merchants get

on a day where there was broadly strength in tech stocks, you see big names like google, alphabet, and amazon down significantly. one stock that was up though, the company formally known as facebook, meta. emily: getting used to that mouthful. ed ludlow, thank you. it was just four days ago mark zuckerberg introduced us to meta. while much skepticism remains, -- to explain i'm joined by ian king. so what is nvidia's play and take on the metaverse? ian: what they are saying is behind all the hype and everything that seems a bit overblown, this is very simple. it is the next version of the internet. the current internet is two-dimensional. the next version will be three-dimensional, immersive, and something we will all be part of. that is something they have a big interest in obviously. emily: so what is the argument that nvidia is making to boost the idea the metaverse is real? ian: what they are saying is they are giving examples. the next time you are shopping for that fancy leather sofa for your second home, instead of driving up there, you can just flip into a virtual version of you