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

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

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

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 beyond, this is "bloomberg technology." ♪ caroline: i'm caroline hyde, in for emily chang. this is "bloomberg technology." building cutting edge chip fabrication plant in the longhorn state. 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. kriti gupta is in the house. ♪ kriti: 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 creeping a li

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. 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

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

. ♪ 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

. ♪ 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 s

announcer: from the heart of where it ovation, money and power collide in silicon valley and beyond -- this is bloomberg technology with emily chang. caroline: i'm caroline hyde in for emily chang. in the next half-hour, we will take a deep dive in two president biden's pick for chair and vice chair of the federal reserve. has tsi

. ♪ ♪ >> in silicon valley and beyond, this is bloomberg technology with emily trying. ♪

announcer: silicon valley and beyond, this is bloomberg technology with emily chang. ♪ emily: i am emily chang in san francisco. coming up, it is britt taylor's weekend we are living in it. he is salesforce's new co-ceo, the news coming today after ta

. >> 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

. ♪ >> 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, omic

. >> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. emily: coming up in the next hour, locked down darling no more, peloton its biggest ever stock wipeout after cutting its forecast. the ceo is no longer a billionaire.

♪ >> in silicon valley and beyond, this is bloomberg technology with emily trying. ♪ caroline: will wald will estate is uncertain. property sales are surging and bringing in real-life dollars. we will have the latest on the matter. we will get to this in a moment but first, i look at the market starts after remarks from the fed officials that amount to concern about another wave of the pandemic in europe and more lockdowns. it paints a picture where people want tech. >> it was dependent on what the fed said, whether inflation is transitory and whether the supply chain concerns are piling up and whether you start to see covered lockdowns in europe spill over the united states. the big tone of today was risk-off. you saw this year with a little bit of a bid in treasury yields going down three basis points. tech outperforming and crypto was up 2.2%. wrote -- usually it is a risk sentiment gauge geared let's get to the story here, semi conductors in particular. semis and ev. as you see the ev boom, you see them needing more semi conductors with a. . stock rising more and more. i want to hit

. >> we fancy ourselves a bit like silicon valley, but it is that we modeled our business after silicon valley, which is to say those disruptors, they identify a large market that was not being fully or properly served and say i am going to provide a security solution. we managed primarily permanent capital vehicles, so we have an entirely different offering to the issues of capital. we can provide different duration and structures from anybody else. we said there is a chance to be that descriptor, and we purposefully built a business model that looked a lot more like a tech company than financial services. we did not start and say our base model is a bank. how do we become a better bank? we stood by saying here is a necessary service, and if we can do a great job delivering that product we can earn attractive returns, and our business attributes, and this is an important point, we looked 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 our end anticlines a certain set of services,

>> 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 them long before his twitter pole. we will talk about what that means. humble shares dropping after a drop in the subscribers at its european dating app. we will talk about the future of dated and a post-covid world. the record-breaking shopping festival, singles' day, raking in sales. how it impacted the chinese tech giant after a year of increased scrutiny from beijing. we will have a look at that again in a moment. but first, tesla fluctuating on the back of share sales. sonali basak has the full picture. sonali: you have the s&p jumping back a little higher. not a big one but it was after two days of decline and guess what, more than that the nasdaq is rising higher with the russell 2000 rising even higher than that. you have a pretty broad-based rise here on the day with volatility that hasn't been enough to deter some of the risk-taking we have seen. our crypto index is a bit lower today

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 a breakup. we will discuss. plus, a disney plus stumble puts the damper on the birthday party, how less subscriber growth overshadow the celebration. carson block is back, talking about elon musk and retail investors. what he has to say about meme traders. markets climbing. inflationary pressures continued to reverberate through the markets. ed ludlow is fear. -- here. ed: no worries. we get past those concerns and technology leads the way. nasdaq 100 outperforming the s&p 500. also strengthen the m egacaps, google, facebook, tesla. inflation is the name of the game. the strongest print in october, the fastest pace of inflation growth since 1990. i wasn't around in 1990. you look at the categories in which prices are rising, there is concern. why? because the u.s. consumer has been driving economic recovery, supercharged spending, but with energy r

in silicon valley and beyond, this is bloomberg technology with emily chang. [] standby emily: it's always day one. a sneak peek of my upcoming bloomberg studio 1.0 sit down later this hour. and, meta-platforms. the company formally known as facebook will shutdown the use of facial recognition technology on the facebook network. this is the same tech that alerts users when photos they are in are uploaded, enabling them to tie their selves. does it signal a new stance for the company on privacy? we will discuss. all that in a moment. let's get a look at the markets. the relentless rally of stocks pushing benchmarks to the all-time high with investors bracing for a key decision from the fed. our ed ludlow is joining us now with more. what will detect play today? >> tech is the better performing group. i am focusing on the nasdaq 100. up for a seventh consecutive day, matching the gains we saw in june. but the strength wasn't universal. there were pockets and tech that did suffer on tuesday. the plot index down by around 1%. the biggest drop in around 10 days. we know there is a big federal r

from silicon valley and beyond, this is bloomberg technology with emily chang. emily: i am emily chang. this is bumper technology. elon musk unloads $5 billion worth of tesla shares as the billionaire tax debate continues to rev up. he plans -- planned to sell them long before his twitter pole. we will talk about what that really means. bumble shares falling to their lowest levels after a drop in subscribers at its europe eating -- european dating app. we will talk about the future of dating in a post-covid world. and alibaba raking in more than $44 billion in sales. how this impacts the chinese tech giant after a year of scrutiny from beijing. let's get a look at the markets. u.s. stocks playback rebounds. disney sloping on the back of earnings. quite a few to have the s&p jumping back a little higher today. more than that, you have the nasdaq rising higher than the s&p. the russell 2000 is rising higher than that. you do have a pretty broad-based rise here. that volatility has not been enough to deter some of the risk-taking we have seen. we have the crypto in

. ♪ >> 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 caro

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 is no crisis for nvidia. shares of the largest chipmaker spiking. we dig into the company plus bet on the metaverse and the status of its bid to buy a u.k. chipmaker. plus, while other tech giants say the metaverse is the next frontier, there is value in their oldest offering. my exclusive conversation with the ceo of alphabet about the company's next trillion dollar opportunity. and amazon web services ceo adamson lipsky joins us to talk about the changing of the guard. what he has to say about andy jaffe succeeding jeff bezos and his vision for managing the flight to the cloud. we get to all of that in a moment. first, let's take a look at the market. stocks falling on concerns inflation will threaten a global economic rebound, forcing central banks to raise interest rates sooner than expected. our kriti gupta ha

>> from the heart of where innovation, money and collide, in silicon valley and beyond, this is bloomberg technology with emily chang. caroline: this is bloomberg technology. we will take a deep dive into president joe biden's pick for jerome powell and lyle brainard. will this help avoid a contentious battle heading into an election year? let's take a quick look at the market reaction to the announcements. big tech took a hit we maybe see -- took a hit. we may see a more hawkish tone. many felt brainard would be a dovish voice. no news on what sort of -- who will head that part of the federal reserve. largely because we did not see yields push so much higher. that is we expect a rate hike as soon june 2022. gold futures fall down 2.4% as inflation could be tamed somewhat quicker to bitcoin at 56,000 off of its highs. not proving much of inflation hedge. it was down on the day. some of the key tech names under pressure. the two your yield -- the two your yield. the dollar index continuing to rally up for tens of a percent. emerging markets feel the brunt. i do want to welcome our bloomber

. ♪ ♪ >> from the heart of where innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang. ♪ emily: i am emily chang in san francisco and this is bloomberg technology. coming up, a tale of two failure, mistrust and the hot housing market. now twitter and tiktok users are raging against the real estate firm as it looks to

♪ >> from the heart of where innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang's. emily: i'm emily chang and this is bloomberg technology. a tale of covid winners and losers. a rebound boosting uber and airbnb. uber reporting it's first ever profit. airbnb reporting its best quarter ever. peloton plunging on agreement outlook. we have it all. the light at the end of the tunnel for the chip crunch, what investors seek with qualcomm's earning outlook, soaring on the back of the forecast with the ceo about whether the worst is over. the former ceo of google says the age of ai is here but should we be excited or terrified? he will join us for a conversation about the power of artificial intelligence, algorithms, and big tech and how humans can coexist within. we will get to all of that in a moment but let's get a look at the markets, tech and retail driving the s&p higher while the nasdaq extended its rally into a ninth straight day. ed ludlow has more. happy birthday. ed: there is a lot for investors. the fed will wind down