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

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

in the silicon valley, this was their customers, and contributors. saying they're going to fame. >> that's how they approach it. then they're going to make themselves superfluous, and if you anticipate that, if you precede in business on the assumption that your job is to make your own customers superfluous, you're going to run out of things to do if that's your business model, aren't you? >> i don't -- i mean, i'm even in control enough not to believe, that they continue to advance at a tremendous pace, but i don't think it's advancing any more rapidly than it did at the time of the industrial revolution. >> mm-hmm. >> and i think that the economist william moorhouse has looked at this, and looked at the invention creation of life, is amount of lumens you need to light a room at night, and it shows that the advance in lighting has been 100,000 times more rapid than it was measured in the economic model. essentially economists were writing about mills, and -- >> william blake. >> yeah. they were writing, and emmitt james, writing, and the incredible

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

companies in silicon valley that regard their business plan as obsolete and their customers and contributors are going to fail. >> if that's how they approach it, then they're going to make themselves superfluous. you will run out of things to do. >> i think it's absurd. i think that the nobel laureate economist william nordhouse did a study of the advance of -- the invention and creation of white, the amount of lumen to light a room at night. he shows that the advance in lighting has been 100,000 times more rapid than is measured in the economic model. the incredible expansion of light from the time that was -- it was fire in a cave to the millions of candles at versailles to whale oil to kerosene to finally electricity and then light emitting -- >> beyond electricity. >> measured by the amount of time a worker had to spend to buy the light to illuminate a room. economic progress was 100,000 times more rapid than is usually estimated in that field. during the industrial revolution, we missed light. this continues to be, a golden age of capitalism with the technological progress as fast as e

. >> i thought he was just silicon valley? no, while he was a good technology chief i google undeveloped at that -- response to your emails, you know gmail, has responses that allow you to anticipate how you are going to respond to a particular issue. i notice those responses are more curious since was if. it cases it establishment? that's raises contribution. ray as a whole -- contributions to technology where the decades. but i think all these people have forgotten the fundamental principles of the computer science that they expound. that's what's striking about the book, because you don't seem to be of much of a dune say or something in, fact see five got this right to -- you seem to think the potential of a i maybe oversold, but that even in the overselling there could be some collateral damage and you're trying to avoid that. >> have i got that rain? >> that's right. the idea that somehow ai competes with human minds is a fundamental illusion. >> a lot of these technology creators, he came to their work having already abs

valley to revise their business plan and contributors as well. >> yes, that is how they approach it and then they are going to make themselves superfluous. they seem to anticipate that. so if you proceed in business on the assumption, you're going to run out of things to do if that is your business model. >> yes, i think it's quite absurd.hi inc think technology is continug to advance in the tremendous place. i don't bank that it's advancing any more rapidly than at the time of the industrial revolution. and i think that there was an economist named lord house, he did the study of the advance and there is now part of this. [inaudible] these mills, all of these different mills and the different energies and whether it is electricity and allll of that and that includes by the amount of time that a worker had suspended to eliminate it. and that includes the industrial revolution as well. >> that's fascinating in its measured by the number of hours that it takes a look at things to earn to approach it, the goods and services that sustain life and this continues to be a golden age and te

>> 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

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] 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 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, 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

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

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 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

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 status of its bid to buy a u.k. chipmaker. plus, while other tech giants say the metaverse is the next frontier, my exclusive conversation with the ceo of alphabet about the company's next trillion dollar opportunity. and amazon web services ceo 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. 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 has been dating through the markets today. kriti: a risk obsession. you saw the s&p 500 closing in t he red. tesla higher on the day, but really dragged down when you'

♪ >> 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

>> 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 the hot -- i travel rebound boosting uber and airbnb. uber reporting its first ever profit on renewed ride-hailing demand, airbnb reporting its best quarter ever. peloton plunging on a grim outlook for the exercise bike leader. we will have it all. plus, a light at the end of the tunnel for the chip crunch. that is what investors seem to be seeing. the chipmaker soaring on the back of a bullish forecast. i will talk to the ceo about whether the worst is over. and the former ceo of google says the age of ai is here. should we be excited or terrified? eric schmidt will join us for a wide-ranging conversation about the power of artificial intelligence, algorithms and big tech and how we humans can coexist with it. we will get to all of that in a moment but let's get a look at the markets, tech and retail. ed ludlow has more. >>

valley. maya watson, head of global marketing at clubhouse. we will continue to listen for what is next. and that does it for this edition of "bloomberg technology." tune in tomorrow, live from seattle with an incredible lineup. i'm going to be speaking with amazon web services ceo adam, the ceo of t-mobile, and another ceo. you do not want to miss it. i'm emily chang. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. >> this is bloomberg daybreak middle east. your top stories. the reserve bank of australia scraps its yield curve initial target after the recent tum alton the bond market. it says

>> 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. can peloton ride out the stock slump? plus, the world may be on board for a travel rebound. airbnb bouncing back from its pandemic decline, reporting record profit and expedia getting the most in a year. conversations with both ceos this hour. uber's road to recovery, his first ever adjusted profit of $8 million in the third quarter, our conversation with the ceo. all that any moment but first, let's get a look at the markets and a rally on that solid jobs data. what have we seen? >> after two months of disappointing payables reports, we get a big payrolls beach, 531,002 jobs added to the u.s. economy and this is why it is important. we have that labor market momentum through july and this big slump so to see the 531,000 gain is substantial but it is not just about got hired, it i

>> 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 sell $2.8 seven thousand homes for a whopping $2.8 billion. the message of the digital protesters -- don't buy them. why? we will have the details. plus, much more than sneakers. this company hit the public markets, hitting a $2.1 billion market cap. we will speak to the ceo. and the demand for ride-hailing is back -- lyft reporting a jump in quarterly revenue and saying it will turn a profit for the year. we will speak to the president and as give driver supply can keep up. all that in a moment. but first a look at the markets. a new record after the fed signaled monetary policy will stay flexible. kriti gupta with us for more. kriti: it is all about the fed. tech outperforming, leading the s&p 500 to a record high

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 nadella about how microsoft is building its own path to the future. now that andy jaffe ascended the throne at amazon, adam's allete ski says he is getting started as ceo of amazon web services. where it is always day one. a sneak peek of my upcoming bloomberg studio 1.0 sit down later this hour. and, meta-platforms. yes, 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 tag themselves. does it signal a new stance for the newly named company on privacy? we will discuss. all that in a moment. first let's get a look at the markets. the relentless rally of stocks pushing major u.s. benchmarks to their all-time highs, with invest

>> 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. users are declining. plus, robinhood data breach is a nightmare. five million email addresses were hacked. can the company live up to the safety mantra. and we speak with the ceo on making health care easier, and the series e finding that the company just got to make that a reality. first let's get a look at the markets. u.s. stocks halted their longest winning streak since 2017 in terms of the s&p 500, sending major indices a little bit lower off their all-time highs. kriti gupta to break it down for us. kriti: after an eight day winning streak, stocks ending in the red. big tech not commit to its rescue. stock 60 index was out performer. what stayed in the green all session long? do currencies, up 3%. i went to delve into the semiconductors. check out this term

>> 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 looks to sell 7000 homes for $2.8 billion. the message of the digital protesters, don't buy them. we will have all the details. plus, much more than speakers. hitting the public markets, hitting a $2.1 billion market ca. -- market captured the demand for ride hailing is back. we will speak to the lyft president and ask if driver supply can keep up. let's get a look at the market stuck climbing to a record after the fed signaled monetary policy will stay flexible. kriti: tech outperforming, leaving the s&p 500 to a record high. $15 billion of tapering. that is what they said they were going to start in november. and perhaps get this inflation we are starting to see under control. still sticking to the transitory message. that is what markets need to hear. tech stocks which have been sensitive to the inflation concerns. the s&p 500 up 0.6%. nasdaq up a

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 the president avoided a contentious senate battle? let's take a look at the market reaction to those announcement because big tech took a hit. we may be seeing a more hawkish tone as the fed chair remains in place. many felt that brainard would be a dovish voice. no news on what sort of bank supervision. still three more seats to fill. the kbw bank index -- we did not see yields push higher as we expect a rate hike as soon as june 2022. gold futures fall as inflation could be tamed somewhat quicker than the market anticipated. bitcoin up off its highs, not much of an inflation hedge, more of a risk asset. the s&p 500 falls from its record high as we see some of the key tech names under pressure and the two year yield, an auction with soft demand overall. the dol

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 after a report the ceo was aware for years of sexual misconduct claims including allegations of rape at an activision studio. we will bring you the latest. it has been an uphill climb for peloton. shares jumping after a $1 billion stock offering brings in major investors. will this take the fitness company over the hump after its grim forecast for sign-ups? roblox shares on the rise after four days in a row, including today. our interview with david bouzouki later this hour. let's get a look at the markets with pretty cooped up. sox -- >> the green in the markets is where we ended up but the question is consumer spending. we got that answer loud and clear, it is. data actually showing spending is higher over month. and earnings from home depot and walmart signaling monetary support has not gone yet. s&p 500 up. we still saw tech outperformance. ultimately closing with tech as one

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 sexual misconduct claims, including allegations of rape and activision studio. we will bring you the very latest. plus, it has been an uphill climb for peloton. shares jumping after a $1 billion stock offering brings in major investors. will this take the connected fitness company over the hump, after its grim forecast from mike's sales and sign-ups? we will discuss. and roblox shares on the rise after four days in a row, including its investor day today. our exclusive interview with ceo david bouzouki about finding new ways to play games in the metaverse. for now let's get a look at the markets with bloomberg's kriti gupta. stocks getting a lift from solid economic later today. kriti: the green on the screen, the question is consumer spending and we got the answer pretty loud. it i