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

. ♪ >> 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

. ♪ >> 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 abloomberg technology.a coming up, a tale of two failures, zillow and t h

. ♪ ♪ >> 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

in silicon valley and beyond, this is bloomberg technology with emily chang. emily: i'm emily chang in seattle. coming up, the meta-verse will be more than just fun and games. microsoft unveils its version of virtual worlds for business. my exclusive conversation with ceo satya

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

from silicon valley and beyond, this is bloomberg technology with emily chang. emily: i am emily chang.

. ♪ 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 detls

. >> 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

. ♪ >> 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.

. >> 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, 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

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, activision blizzard employees taking a stand, staging a walkout to press the ceo to stop down, this after a report he was aware for years of sexu