is china likely to pass silicon valley as a leader of technology? reid: i think it's one of the greatest concerns that silicon valley-knowledgeable people have, because china is amazing. it has huge amounts of tech talent. everyone's acting like an immigrant, you know, with hunger. large companies have this policy, 996 -- 9:00 till 9:00 p.m. six days a week, you are discoverable at your desk. and that's kind of like, you know, tens of thousands of technical people in technology companies. and they are doing a lot of innovation. there's things we learn from china. and so, i think that china is going to have one kind of very strong creation of the technological future. it is one of the reasons why in blitz scaling, we call it the land of blitz scaling. i think silicon valley has some edges too, but i think it's very much of a game on circumstance. david: now some people would say the technology world of the united states is dominated by a limited number of companies, google, facebook, apple, netflix, microsoft, i'm sure you are familiar with all of th

silicon valley as a number of overlapping network effects. it has a network effect of being the hub by which a lot of english-speaking entrepreneurs from around the world come to start their software or key technology businesses. there is the hub for capital and the knowledge and the investing that goes into it. there is a hub of talent for people growing these companies, which is the reason i wrote this book, how do you build companies at a global scale and attract the talent? there is the network effects of learning out of sharing information. it is part of the reason why silicon valley, the whole bay area has 3.5 million people tops, that's not the tech industry, and why half of the nasdaq emerges out of silicon valley. it is for those kinds of reasons, and those network effects are what makes silicon valley great. david: what about around the world, is china likely to pass silicon valley as a leader of technology? reid: i think it's one of the greatest concerns that silicon valley-knowledgeable people have, because china is amazing. it ha

scott is also mike's podcast partner for the silicon valley insider weekly overview of silicon valley tech industry scott holds a degree in political science and ucla. welcome mike and scott but we're so looking forward to your conversation, take it away. >> thank you so much. welcome everyone, and michael welcome to you. it's great to be here. >> it's great to talk to you, this time i get to ask you the questions. >> and folks, please let us be a little informal. scott and i are not really capable of anything else. [laughter] this is an honor to be here for many reasons. mike, you know i'm a big fan of yours. as a tech reporter i've been standing on your shoulders for years. in some of the earliest stories i did as a silicon valley reporter were at sea hm and you have allowed me to do many there and geek out. individually to see the exhibits. always appreciate it it's an honor to be associated with that. >> if i can add, i am deeply honored. i've done many things at the museum over the years. i go back safari member would gordon glenn bell made the decision to move to silicon valley

scott is mike's podcast partner for the silicon valley insider, a weekly overview of silicon valley in the tech industry. he holds a degree in political science from ucla. welcome mike and scott, we are looking forward to your conversation. take away. >> thank you so much. welcome to everyone. michael, welcome to you. it's great to talk to you and this time i get to ask you a question. please allow us to be informal, we are fully i capable of anythg else. [laughter] >> this is an honor to be here for many reasons. i am a big fan of yours and as a tech reporter, i've been standing on your shoulders for years but also computer history museum, some of the earliest stories i did as a silicon valley reporter were at hm and you have allowed me to host programming there to do many interviews and geek out both individually and children to be the exhibits and i always appreciated that. it's an honor to be associated with that. >> if i can add, i am deeply honored, i've done many things over the years, i go back so far, i remember when gordon and bell were making the decision to move to silicon

silicon batteries so no silicon is come back to silicon valley but is there v product going to work? i don't know but it's possible that batteries can now get on the freight train in not the semi conductors. i think batteries are going to be crucial and whoever has the great breakthrough, you know i had lunch a while back with frederico and i said what's the greatest invention in valley history? is it the tryout -- triode or the transistor? is it the integrated circuit? visit you and your team with the microprocessor and he said no, i think the one true moment of genius in that whole history to play in our process. he said everything else that wee all do you could see it coming. you are extrapolating from where we are now to what we could do in the future but he says the idea of taking the transistor and laying it flat and the printing process and being able to scale it down 10 nanometers with the planar process that was not an active engineering. he said that was an act of artistic creation and he said everything else pales next to that moment when they came up with that so i though

and, you know, the programming, the counter cultural attitude of the early age of silicon valley, well, those programming data have now become the goliath and the pandemic has actually reinforced this for me at least, which is we're already aware of the some of the problems of big tech 18 months ago, but now our lives have become even more enmeshed in the decisions made by a very small number of people inside a very small number of tech companies. we're dependent on ways that we first, even 18 months dependent upon a small number of platforms through our work lives. through our private lives, for our educational lives and the power that's vested in a tiny number of people in silicon valley amounts to private governance and that's not serving us as citizens very well at all. >> from a technologist point of view, how we actually think about the systems that get built. they get built with particular metrics that are jaunt quantifiable and part of that that they're easily quantifiable. that doesn't mean they match what we really want. they're proxies for what we really want. and when you g

it is embedded in the structure of the capitol industry driving the growth of silicon valley and face companies that prioritize the scale before we even understand anything about the impacts of technology in society. it reflects the path paved to market dominance by market in retreat from exercising oversight. so stanford has an important role to a play and there are individuals who may look inside it didn't pay attention to the consequences of the moment of tremendous optimism. the bottom line is there are systemic challenges that need addressed stanford needs to be at the center of addressing those challenges but stanford can't do alone. >> thanks, that makes a lot of sense and i recognize even if i've only been at stanford about two years, the change in the questions people are asking, the awareness after january 6 storming of the u.s.g capitol after disinformation around covid, people really thought problems are not just in other communities, they can truly hit home. the harms are real, not virtual so too say that we see how hard it is for students to find jobs outside of the big

also michael malone chronicles the beginnings of silicon valley with his book the big score. then "the memory thief" about the effects of opioid use on the memory. what can teach doctors about alzheimer's disease followed by biologists carole hooven explaining how testosterone dries behavior. >> some people say that artificial intelligence is going to make a the human race obsolete. people don't want to think that a artificial intelligence, and intimidating subject that the thing about ai is even if you don't want to think about it, it is thinkingut about you, or is ? that will be the question we will be discussing today on this episode of independent conversations. greetings everybody who has joined us. i'm graham walker coming from the independent institute in oakland, california. we try to bring notable experts on aic variety of topics to discuss topics of the day and we think giving your perspective that you're not likely to hear elsewhere, and today we'll be talking with george gilder. let me welcome george gilder to independent conversations. hi, george. [inaudible] >>

. >> i thought he was just silicon valley. >> now-- no, technology chief at google and it developed ai the response to gmail. responses that allow you to anticipate how you are going to respond to it. >> i noticed the responses have been getting more courteous and more specific. i suppose it's due to his development. >> that's his contribution. really i think all these people forgotten the fundamental principles of computer science. >> that's what's striking about this book because you don't seem to be as much as a doomsday or as some. in fact, you seem to think the potential of ai may be oversold, but that even in the overselling there could be some collateral damage and you are trying to avoid that. have i got that right? >> yeah, i think that's right. the idea that somehow ai competes with human minds is a fundamental illusion. >> a lot of these technology creators came to the work having already observed the idea that the human mind is nothing more than a neat machine and so if they knew that quote unquote knew that to begin with and it's not surprising that the conception of artif

we y hear from corporate leaders are investors in silicon valley that the antiregulation push to do that regulation will slow down innovation and get inw the way of the progress that we need. we want you to understand that anti-regulation pushed as a rejection of democracy. to rejection of the role of our political -- the technology that we selected as a society to help us referee the critical values that exist. you are right to say and our democracyha isn't up to the task not only because of of technical knowledge that you pointed to put because of theno institutiol huge -- features that have made our very difficult and so cheveryone's reasonable expectation about what's like you to come out is crowned -- of congress the best prediction you could make in this current system at the moment. questions about content moderation the communications act but one of the places that we start and this is excerpted in the piece in the atlantic which was published a couple of days ago is can we find a set of areas for legislative action were democracy can do what it's a best at which is achieve conse

after silicon valley, which is to say, disruptors, what did they do? they identified a large market that was not being fully in property -- and properly served and said i will provide a solution. 95% of our revenue comes from permanent capital vehicles, so we have attired different offering -- entirely different offering. we said there is a chance to be that disruptor, and then we purposely built a business model that looked like a tech company. we did not start and say our base model is a bank, and how do we become a better bank. we started by saying cure is a necessary service that if we can do a great job delivering the product we can earn really attractive risk-adjusted returns , and this is the important point for our shareholders. we look a lot like a sas business and people do not map technology to wall street, but we have done this consciously. >> where businesses are set up to deliver to their end to gives her a certain set of services, but if you held our income statement against any other sas company you would be surprised how similar they a

>> silicon valley and beyond this is bloomberg technology with emily chang. emily: i am emily chang in san francisco at this is bloomberg technology. tough times, new disney+ subscribers drilling netflix by a long shot. is disney's streaming service struggling to broaden its appeal after an explosive start? we will discuss. no stopping for vivian, the drugmaker goes public -- truck maker goes public. our exclusive conversation with the company's ceo this hour. she was of doordash hit a peak. visio will tell us how he expects us to hyper skill growth. let's get it look at markets. u.s. stocks fell the most in a month. >> talks taking a breather and it comes down to tech leading the charge lower. a lot of it has to do with big tech. over into semiconductors as well, down 2.8%, software stocks taking part of the blow. here is what did not get dragged down, china's adr's, good news in the regular tory vectra. i want to broaden this out and talk about the s&p 500 and tesla's role in it in particular. we know the ev space has been driving broader gains, but if you

>> 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 in san francisco and this is bloomberg technology. coming up, jack dorsey resigns as ceo of twitter. we will talk about what new leadership means for the future of the internet town square. plus, omicron. how worried should we be? the world health organization says despite milder symptoms, the new variant could fuel surges with severe consequences. moderna's co-founder joins us. and the return of black friday. visits to stores and shopping centers up but still well below pre-pandemic levels. how is cyber monday stacking up? we will discuss. first, let's get a look at the market stocks climbing and bonds falling after a elective sense of calm returned to global markets. investors reassessing worst-case scenarios for the omicron virus strain. critic group to joins us. how investors digesting this today? >> they're turning back some of the panic you saw on friday. we have seen variants before. completely normal behavior. we sa

i think companies in silicon valley that revive their business plan is also leaving their customers and contributors are going to fail. >> yeah, if that's how they approach it, then they're going to make themselves superfluous. in fact, they seem to anticipate that. if you proceed in business on the assumption that your job is to make your own customers superfluous, , you're going to n out of things to do it that your business model, aren't you? >> i think it's quite absurd. i'm even contrary enough to not believe that -- i think technology is continuing to advance at a tremendous pace, but it don't think it's advancing any more rapidly than it did at the time of the industrial revolution. i think that nobel laureate economist william nor house -- nor house did a study of the advance of writing. this is the invention, creation of light, the amount of lumens you need to light a room at night. and he shows that the advance in lighting has been a hundred thousand times more rapid than is measured in the economic models. essentially, economists while they are writing about them satanic mill

it's played a critical role in bridging the ecosystem that is silicon valley and it wrote this period of tremendousf tech optimism and we saw that reflected in every aspect of the campus. about riding that wave of optimism and backlash, we now face exactly that dynamic playing out on campus. a lack of trust in the tech companies and the concern among the individuals and the majors about whether they want to be associated with these societal harms. so it puts us in the position of educators on campus where we have to think and dig deep with our students around the questions of how do we amplify the benefits of technology while also mitigating these evidence harms. so the book itself calls for this kind of nuanced adult pragmatic conversation that's not a tech optimism and that's not a tech to pessimism, but recognizes that technology itself isn't neutral and involves trade-offs. it generates benefit alongside of the challenge collectively to think about how to weigh those things. >> but often i would say on this point, while we can focus on stanford and think about its potential role a

a flat university society in silicon valley, binary symbols which can play games better than us. there are black and gray, white and gray stones and the stones are symbols and they don't show beyond the board. if you have a computer, they can move billions of times faster than a human can. obviously they can play better than a human. >> i think you're saying a man is going to be superseded by a threshing machine. a man with a single side of that doesn't mean the machine is more sophisticated than the man. >> that's right. >> you say early on in the book and you repeated in a few places that you have two basic claims notion of sort of supremacy of artificial intelligence and both don and self defeating. i find it reassuring to learn from you and your book and other sources that the human mind is more complex and maybe the entire world internet system,ur that is reassuring. i'm glad to know maybe there's evidence but my mind is more than just a meat machine with electronics pulsing threat. so maybe it is done but the trouble is, could this view of artificial intelligence rise to a

she comes across as a chief executive, not a flashy silicon valley leader. in this case, almost more lawyerly. very calm. calmly answering questions, leading questions often by her lawyer, presenting herself to the jury and the world as somebody who was in charge, flying high, and not aware of all the details that might have led to the charges that she faces. just not aware of all the details that led to the criminal charges she is fighting now. caroline: ok. sort of claiming i have a deep -- claiming naivety. the devil will be in the detail, the detail that she perhaps didn't grasp. i will be exposed in the cross-examination, i imagine -- that will be exposed in the cross-examination, i imagine. >> she did at one admit to a -- at one point admit to her problem. she can just ignore the charges. she does have to address them. at one point, she did admit she did something wrong. she wishes she had done it differently. which is to lift the logos of pharmaceutical companies onto reports that she used, that she said were endorsements of her technology, in order t

you really see the attitude representing a trent in silicon valley. living in a world where it is normal. new technology companies could create harmful effects. so, i want to ask may be a little bit more of a critical question. to what extent has safford university, you have a long history and a lot of experience in working with students, to what extent have they actively and successfully created the very culture where disruption is admired. giving access to the company but also inviting ceos and other tech executives and to teach. i would love to hear a bit of a reflection from each of you on how stanford plays a role in that typical disruptive ecosystem. starting with rob and shooting for this question with jeremy. >> absolutely. a significant responsibility for some of the problems we see a big tech and for that cultural orientation to aspire. looking for ways to code in your pajamas and roll your product out quickly and see what happens throw spaghetti on the wall and figure out any problems downstream. personally, i have seen in teaching generati

in silicon valley and beyond, this is bloomberg technology with emily chang. >> i am emily chang in san francisco and this is bloomberg technology. coming up in the next hour, tough times at the house of mouse. disney plus subscribers trailing netlist by a longshot. is disney's trimming service struggling to broaden its appeal after an explosive start? we will discuss. the electric truck maker going public, raising leaven $.9 billion in the biggest ipo. the exclusive combination -- conversation with the company ceo. and doordash after an $8 million deal to buy in then delivery service, vote. let's get a look at the markets with critic group debt. u.s. stocks fell by the most in a month. paint the picture. >> stocks are taking this from tech. here is what did not get dragged down. this is chinese adrs, tech heavy. good news in the regulatory backdrop. i want to broaden this out and macro this just a touch and talk about tesla's role in this. tesla, we know this ev space has been driving a lot of gains in the broader index but if you look at a terminal chart of tesla and the current s&p 5

. >> silicon valley and beyond this is bloomberg technology with emily chang. emily: i am emily chang in san francisco at this is bloomberg technology. tough times, new disney+ subscribers drilling netflix by a long shot. is disney's streaming se

. >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: hot housing market. twitter and tiktok users are raging against the real estate firm as it

announcer: 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 in san francisco and this is "bloomberg technology." in the next hour, president biden promises change for the better with his new infrastructure law coming at a precarious political moment as polls show overwhelming pessimism across the u.s. about the economy. we will break down the details. plus, another twitter filled weekend for elon musk the world's richest person taking on senator sanders. wide twitter users believe he could be hinting at selling more --tesla shares. and he's the youngest ceo of a public company on track to transform the trucking kindest re-dutch industry. -- the trucking industry. i will be speaking to the ceo of embarq. let's get a look at the markets. kriti gupta has the full picture. >> names like tesla and nvidia down on the day but then you have facebook and alphabet higher on the day. the s&p 500 index essentially unchanged on the day. another thing it shows is a risk off day with the c

>> from the heart of where innovation, money, and power collide, in silicon valley and be line -- and beyond, this is "bloomberg technology." ♪ caroline: i'm caroline hyde, in for emily chang. this is "bloomberg technology." anna cutting edge chip fabrication plant in the longhorn state. troubled bookings at a record -- travel bookings at a record. get a look at what to expect ahead of next year. and taking a look at supply chain issues ahead of the holidays and if supply will be able to meet demand. will catch up with the shutterfly ceo on holiday predictions. we will get to all of that in a moment, but let's get a look at the markets. the tech sector. >> it takes a cue from oil, i will walk you through it. today's big news was the release coming out from the biden administration, 50 million barrels put on the market for oil and a way to combat the inflationary pressures you're seeing. to take away for the market is that it is a short-term solution. the oil price still higher at the moment, looking ahead to the demand after the sdr impact. that's where you start to see yields creep

in silicon valley and beyond. this is "bloomberg technology" with emily chang. [stand by]

in silicon valley and beyond. this is "bloomberg technology" with emily chang. [stand by] emily: virtual connected worlds will catch on faster than we think. we will talk about how soon mark zuckerberg's vision will or could become a reality. plus, meda means more than a name change -- meta needs more than a name change. why this is just a distraction. -- ed ludlow. ed: it has been a weird start to the week. the s&p 500 up by .2%, eking out a third straight day of gains. the nasdaq 100 had a late rally into the afternoon, closing up .4%, rising for a sixth straight day, its best streak of wins since june. wanted to point out ev related stocks. up 1.3%. tesla, such a massive story on monday, driving up the index. a pocket of weakness, broadly cryptocurrency, down more than 1%. bitcoin stumbled around the $60,000 mark. there was a pocket of the market in memes that was really strong monday. that blue line is a custom index that bloomberg tracks of the 35 most popular meme stocks. it was up by the most since august during monday's session, driven by gamestop which

. ♪ >> from the heart of where innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang's. emily:

>> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. emily: elon musk's followers have voted the tesla ceo should sell 10% of his stake in the company worth 21 billion dollars. will he do it? we will discuss. another company heads to the meta-verse. amd rallying after landing meta-as a new customer. we will talk to the ceo about teaming up with the company formerly known as facebook. crypto's new milestone. market for digital assets has quadrupled 2020, but will momentum continue? we will discuss later this hour. first, let's get a look at the markets. u.s. stocks edging higher with the s&p notching its longest losing streak since 2017. bloomberg's kriti gupta. >> a mediocre day when we are talking about the index. 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. a lot of this is going to be positioning for the cpi report wednesday. a lot of this is the fact big tech today w

. ♪ announcer: from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ emily: this is "bloomberg technology." ge, toshiba, and johnson & johnson announcing

. ♪ >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. ♪ caroline: i am caroline hyde in for emily chang and this is "bloomberg technology." coming up, bitcoin soares and coinbase slumps. third-quarter results missed wall street estimates.

. ♪ >> from the heart of where innovation, power, and money collide, silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: debates continue to rev up. he planned to sell

announcer: 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 in san francisco and this is "bloomberg technology." coming up in the next hour, the chip shortage. we take into nvidia's bet on the metaverse and the statusf

. ♪ >> from the heart of where innovation, money, and our collide -- power collide, in silicon valley and beyond, this is "bloomberg technology," with emily chang. caroline: i'm caroline hyde, in the for emily chang. this is "bloomberg technology." coming up in the next hour, supply chain pain. retailer struggling to keep supply up with demand. amazon.

announcer: in silicon valley and beyond, this is bloomberg technology with emily chang. ♪ emily: this is bloomberg technology. coming up, activision blizzard employees taking a stand, staging a walkout. this

. >> from the heart of where innovation, money, and power collide, in silicon valley and be line -- and beyond, this is "bloomberg technology." ♪ caroline: i'm caroline hyde, in for emily chang. this is "bloomberg technology." anna cutting edge chip fabrication plant in the longhorn state. troubled