we will look into google, president trump taking peter thiel's side. we are live streaming on twitter. be sure to follow our global breaking news network, @tictoc on twitter. this is bloomberg. ♪ emily: on monday, conservative billionaire peter thiel claimed google was doing "seemingly treasonous" work with china. he found a fan of his comments in president trump. president trump: i would like to recommend, including to like our attorney general, to take a look. google is with china in not a very positive way for our country. emily: to discuss, in new york, a guest, and in our studio, a reporter who covers tech for us. he not only said that google is doing "seemingly treasonous" work but that google could have been infiltrated by foreign spies from china. is there evidence to back up peter thiel's allegations? >> not that i have seen. google's response for months, we have seen similar statements, less aggressive, from the pentagon some months ago, google saying microsoft and amazon, our biggest competitors in cloud, actually have a presence in china.

peter teal -- peter thiel said anti-american. this is a broad base of google employees that are ideologically super left-wing sort of woke and think that china is better in the u.s. where the u.s. is worse than china. it looks more anti-american than anything. >> mike: here for reaction director of the center for chinese strategy at the hudson institute michael pillsbury, sir, great to have you. those churches by peter thiel got president trump's attention. take a look at this and i will ask you to react to this. >> it is a big statement when you say that you know, google is involved with china. and not a very positive way for our country. so i think we will look at that. i know the other agencies will be looking at it and we will see if there is any truth to it. that is a big statement made by somebody who is highly respected. so we will certainly take a look at that. >> mike: is it wise for president trump and american leaders to have those concerns? i think it is. i think the president is correct to defer to peter thiel on thi

billionaire facebook board member and paypal investor peter thiel calling out google and he wants the cia involved >> peter thiel calling for the fbi and cia to investigate what he says are google's trading ties with china. speaking last nights a the national conservative knks confe in washington. how many foreign intelligence agencies have infiltrated its manhattan project for ai do google's top executive believe they've been infiltrated by chinese intelligence. he says he'd like thorauthoritio ask these questions in a not gentle manner. he didn't offer any evidence google has been infiltrated by china, but he may be referencing google's decision to not renew a project by the pentagon. at the time the company said it would not allow ai projects to be used as military weapons. google came under fire after reports it was looking to launch a censored search engine in china. google has not responded for comment, but as you mentioned it is likely to be a big talker today. >> thank you very much. >>> the pressureon big technology does not end with thiel himself, it may also extend to the c

. >>> and finally peter thiel doubling down on his attacks against google why he says the search giant's dealings with china should be a huge red flag for the feds it's tuesday, july 16th. "worldwide exchange" begins right now. ♪ >>> good morning welcome to "worldwide exchange" from wherever you are in the world you may be watching. i'm dominic chu in for brian sullivan live pictures here, a screen shot of capitol hill where today congress will be holding hearings on big technology we'll take you there live in a moment first here's how you and your money are setting up right now the global markets are setting up their day stock futures indicating the dow will open just about flat, off by 4 points. not much movement. there the s&p up by 1 point. the nasdaq up by 6 to 7 points this after the major averages capped off another day of, yes, record highs the dow hitting its fourth record close of the year the s&p hit its 11th the bond market in focus now the ten-year note yield trading at 2.09% so, higher than it was a couple weeks ago. the two-year note yield 1.84%. let's go worldwide in as

billionaire investor and facebook board member peter thiel is taking aim at google. in a speech sunday at the national conservatism conference in d.c., he singled out google for agreeing to work with china, while letting a u.s. defense department contract lapse. he called on the fbi and cia to investigate what he said were seemingly treasonous actions. meantime, youtube is also coming under scrutiny with several digital video advertisers citing out the company for squeezing out competition. joining us to discuss is lizette chapman and lucas shaw. not surprising to hear controversial remarks from peter thiel, but this in particular is a new attack. the attack of silicon valley, and google in particular. lizette: it is not unusual for peter thiel to take a controversial and kind of loud stance on a lot of these things. he has called out a lot of things in the past. but, this one, he called google, on this manhattan ai project and asked the fbi and cia to not ask question them gently about whether they are employing chinese nationals and taking a look at the work they a

i think it's interesting that peter thiel is looking at elizabeth warren. you would think with the wealth tax and her income inequality he would say something negative about her. but she is running a strong campaign. kristina: isn't that a net positive for her when you have peter thiel saying she scare him the most of because of the economy. i think that's a huge win for her. sheep responded to a bloomberg story on this and she just wrote, good. you have some big shot on wall street or the tech industry saying i'm scared of this woman. >> 72% of mayor cans rate the economy as god or great. people like the economy, what do you say? >> i think they should be going after the economy. deficits are high and we have student loan debt. today's polls came out that have elizabeth warren beating donald trump. i am just talking today. >> elizabeth warn is a scary person. it's scary to me she has reached the level of political awareness. it scare me that she stood in front of young people and lectured as a professor for so long. she has a plan and obama legitimacy. she

is there evidence to back up peter thiel's allegations? >> not that i have seen. google's response for months, we have seen similar statements, less aggressive, from the pentagon some months ago, google saying microsoft and amazon, our biggest competitors in cloud actually have a presence in china. they have research centers. google has been out of the market for years. they have certainly tried, and that is what they referred to. we suspect or mark warner mentioned this earlier, that they rejected a pentagon contract and the same time to reveal they were working on a search product in china. googleso in a statement, said, "we do not work with the chinese military. we are working with the u.s. government, including the department of defense, in many areas, including recruiting, health care." peter thiel in the past has expressed interest in investing in chinese companies and is on the board of a huge competitor to google. he has got a fan out in the president himself, saying, "now we need to investigate." view onthink thiel's this is similar to a lot of mainstream

your reaction to peter thiel there. >> i think peter thiel is on to something. elizabeth warren is gaining in the polls. she has the progressive talking points down to a t, particularly when it comes to the economy and rural america. joe biden has a majority of support among african-americans and seniors. if the support for biden gets eroded she could very well be the nominee. liz: bind out with his path -- biden out with his path to the white house. it's a rebuke to single payer plans. joe biden said the same falsehood that got president obama in trouble. >> if you like your healthcare plan and your employer-based plan you can keep it. if you have private insurance you can keep it. liz: the fact checkers at politifact said that was the lie of the year when barack obama said it in 2013. your take on all of this. >> i think as a policy tool, what joe biden is pushing is defendant continued to fail. but as an electoral strategy it can help him. i agree he's reiterating what was barack obama lie of the year in terms of a talking point. it pushes back on the single

peter thiel is a facebook board member and google is a facebook competitor. still ahead, computer technology company dell saying it braced for the impact of the u.s.-china trade war, but so far, so good. more from the dell ceo tom sweet, next. this is bloomberg. ♪ dell: the nikkei news says plans to move as much as 30% of notebook production away from china and avoid tariffs on u.s. bound goods. while cfo tom sweet declined to comment on the news, he told us the flex ability of the supply chain is helping the company manage the dynamics. tom: we have a global supply chain that has flexibility in it. we have 25 manufacturing facilities across the globe. we are balancing the needs of our customers with the environment we are in. i think we have done a nice job of balancing tariff dynamics and will continue to work our way through that. hopefully, the two governments will come to an appropriate agreement at the right time. >> what does that mean in terms of adjusting your supply chains? you talked about 25 manufacturing sites, but when will you have to start a

peter thiel has already had impact. he's called for google to be investigated and the call has been picked up by the president. in a tweet this morning he said last line, right there, the trump administration will take a look. watch out. >>> the third hour of "varney & company" is about to begin. >>> it's probably, you know, a broad base of google employees that are idealogically super left wing, sort of woke and think that china's better than the u.s., or that the u.s. is worse than china. it's more anti-american than anything. stuart: there you have it. peter thiel was on tucker carlson last night. as we said, doubling down on google. i want some reaction to this and who better to react to it than the director of a documentary on this whole area, the documentary pulled the curtain back on big tech. have a look at this for a second. >> this is what i call the creepy line and the google policy about a lot of these things is to get right up to the creepy line but not cross it. >> google crosses the creepy line every day.

dagen: here is what peter thiel told maria bartiromo back in april. maria: so is that the most important impact, the military, in terms of the use of ai? >> super important part that's not discussed enough. big controversy last year where google employees refuse today work on project made and to use ai to help u.s. military in various ways and i actually think that we should be grateful for them but at least surface the issue that this is a military technology and very important one for the u.s. not the lose the race on. >> joining me now is fox news senior strategic analyst chairman of the institute for the study, retired four-star general jack keane, general, just your initial response to what peter thiel is happening about with google and potential risk with work with china. >> well, certainly that's there, i share his concern, any major company doing business with china is subject to intellectual property theft, the fact that they were doing business with the communist chinese military absolutely invites penetration by the ccp of google's intellec

what you think of his partner peter thiel's comments on google nus. teeext in less thanhr mite here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. >>> seemingly treasonous that's how peter thiel described google over the weekend. saying the fbi and cia should be investigating the alphabet subsidiary to see if google has been infiltrated by chinese intelligence currently the founding partner of investment firm 8vc good morning >> good morning. >> you share that take on google >> well, google is in a tough situation because there's a lot of people at google. we're from a culture that's not very nationalist china is in nationalist place. i think that google probably needs to re-evaluate what it's doing. google is not a pa

did not have the opportunity to talk to peter thiel. new signs that the white house could follow him. what is on thiel's mind here. the readout on that. the cryptocurrency crackdown. steve moore is on defense because he kind of got this ball rolling. earlier on we got stocks hitting new highs as earnings season kicks off. iting still very early. 5% of the s&p 500 companies have reported. of never less in small pool of names. they handily beat expectations. they were after cheted down. you know how they. "fbn:am"'s lauren lawyer simonetti. >> ceo jamie dimon said this, we continue to see positive mope momentum with the u.s. consumers. rising wages reflected in our consumer and banking results. the bank's credit card sales that division saw double-digit growth. that stock is up today. different picture at goldman sachs. stock trading revenue rose, highest level in four years by the way. goldman has been investing in the trading technologies, algorithms, but the effort to bulge up the consumer fell short. the stock is up 1.1%. johnson & jo

. >>> president trump vowing to take a look at google after billionaire investor peter thiel warns of potential treasonous acts. a house subcommittee is holding a hearing on the power of technology in general. >>> hearing over cripper to currency planned by facebook, getting panned by the likes of the president and fed chair jerome powell. we'll go to capitol hill for that and so much more on "making money." ♪ charles: facebook welcomed with not so open arms in capitol hill. senators making their displeasure with the company on a grilling of libra cryptocurrency. ebb wardlaw recognize live in washington with more. edward? reporter: senators were very concerned about facebook's past problems, now their plans to lawn of the cryptocurrency called libra. >> i don't think for a minute that facebook created hate but we know that their competing missions of connecting people and turning a profit creating an algorithm and a business model that intensified it. >> the head of colibra david marcus defending what facebook has done with privacy breaches, selling customers data and slow to react

later, peter thiel is the co-owner of one of the most secretive companies but taking aim at another tech giant's work why he is calling for a federal investigation of google. "the exchange" will be right back >>> welcome back to "the exchange." here's some of the movers this hour a number of food stocks hitting all-time highs they include starbucks, darden restaurants and yum brands as you see them moving higher all three up more than 20% so far this year. plus, shares of slack are higher after being rated overrate in new coverage at barclays bullish on revenue growth prospects despite what it calls a demanding valuation for slack. shares of gilead and galapagos in the green after gilead said it would increase its stake in that dutch biotech firm. galapagos up more than 18. well, 17% on the day now to contessa brewer for an update if here's what's happening this hour. congresswoman ocasio-cortez responds to trump's tweets he said they should go back to the plays they came from >> fortunate tunfortunately thee feels about immigrant, naturalized citizens or not in this country but i think

melissa: peter thiel revealing which democratic hopeful worries him the most? take a listen to this. >> i'm most scared by elizabeth warren. she is the one talking about economy which is only thing i think, the thing that matters by far the most. i think almost all the others are equally unimpressive because they are identity politics. melissa: warren is fully embracing the label, responding with the comments, simply good. joining us james freeman "wall street journal" and fox news contributor. what do you think about this assessment? do you think she is the most dangerous one from the perspective she is talking about the economy, pointing to things that people would be dissatisfied with from a financial perspective? >> i certainly think if you look at polling the fast riser in recent weeks is kamala harris. elizabeth warren taken a lot of bernie sanders vote. people on the left have trouble differentiating between sanders agenda and elizabeth warren. that is strategy worked to hold down the far left base. i think peter should relax a little. i think a big flaw

now trump loves peter thiel, i'm sure, because peter was the only guy in the entire state of california that was a trump supporter. anyway, check out the shares of google less than 1% at this point some of it's already in stock. i guess we knew this was happening already. negative already. >> more when it comes to all of this investigation and what's going to happen in the regulatory front. >> let's bring ed lee, "new york times. john stowell, economist there. want to bring you into this conversation about privacy, about tech let's talk about peter thiel right now and what this means. peter thiel has not offered evidence and being shot across the bow. he came out over the weekend saying google was working with the chinese. it's sort of an ironic thing to say in large part because google was one of the first tech companies to effectively say, you know what actually, on a principle basis we don't want to do business with the chinese maybe we should try to think about -- >> we'll work with them to figure out how we can. >> but then so far haven't. >> right. >> what do you think this is abo

. >>> a thiel fellow, a hand-picked peter thiel person who gave up college in order to learn at the knee of this venture capitalist, he is here to tell us whether he agrees with the billionaire peter thiel that google is committing treason for working with the chinese. tech wunderkind john meyer is here and will speak out. >>> amc keeping their portfolio cool during a market heat wave and so-called wall street vampires react to elizabeth warren's accusations. charlie breaks it on that next. less than an hour to the closing bell, let's start the "countdown." liz: you just heard charles payne mention that developments in the strait of hormuz are moving the markets. oil, you see it spiking at the moment on reports, breaking news, of iranian forces seizing a british oil tanker. that has suddenly spiked crude prices which are up about 53 cents. we're still below $55 a barrel in the after-market session. that's for west texas intermediate which trades here. but let's flip it to brent which trades in london, and as you see, this had been around $70 just a couple of weeks ago. we're still lower

emily: one of them is peter thiel. whenever one company takes money from peter thiel, they become the thiel-backed startup. he is known for his controversial comments. made one recently, calling google treasonous. openly asking if they have been infiltrated by foreign spies. president trump has been deeply unpopular in silicon valley which is left-leaning. what is your reaction to the thiel controversy and having that attached to you? maximillian: we are actually not commenting on the politics of our investors. on the investor side, thiel has been a great support for many years. he has a very good vision of scaling. he was a part of paypal. he has a great vision of how to scale, like a financial service company globally. he also believes very much in the company. it has been a great support. emily: talk about your plans to expand. you are in the u.s. now. i understand south america is next and maybe even asia. maximillian: yes. as i said before, we wanted to build a european bank. we realize the financial needs across

perhaps the cia or fbi's peter thiel recommended it the president attacked google in the past he accused them of rigging search results the reservoir of goodwill is very, very low listen, yesterday i was on twitter. i was tweeting with the chief of staff of senator josh hawley of missouri a republican critic of google. he mentioned the bias issue. that's a longstanding criticism. he mentioned privacy he mentioned china this has become sort of a full front problem for these tech companies. and there seems to be new issues popping up every day >> but what do people expect if i said to you 20 years ago, cyrus, i will give you a device, i will put it in your pocket it will track everywhere you go without you knowing. it will show you where you stop, how long you stay there, what you think about, you would have said you're crazy. what are you, north korea? that's the phone we do it willingly nobody is forced to be on twitter, facebook or use google maps does anyone have a case against these companies when this is all self-directed? >> i think the biggest issue for tech companies is they don't

and perhaps they are i don't know why peter thiel is necessarily decided to involve himself in this. i would love to hear from him. great if we can get him to sit down on cnbc at some point >> old guest from kudlow and cramer, i've always respected everything about him when you talk about treason and you do not talk about senator mccarthy, you have forgotten history. and you've forgotten roy cohn, what happened to this country and how it tore it apart with joseph welch took senator mccarthy apart dure the hearings when itwas sacrosanct to attac the army and they put an end to it and soon after senator mccarthy died. i do not want to see this happen i don't want mccarthyism in this country. i think the only guy who stood up to him was edward r. murrow only he did it person to person some degree with his great documentary. we can't have treason being called here. we just can't. treason is a high -- the rosenbergs were executed for treason. should the rosenbergs have been executed for giving the hydrogen bomb i don't know >> have you no decency >> are we headed to episodes of black list

when we come back, google now punching back against billionaire peter thiel and his accusations that google is a benedict arnold treasonous person, creature, who knows what. is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪ (carrying up to 50 times its tbody weight.essly marches on. it never questions the tasks at hand. but this year, there's a more thrilling path to follow. (father) kids... ...change of plans! (vo) defy the laws of human nature... ...at the summer of audi sales event get exceptional offers now! all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait,

billionaire investor peter thiel is calling for a federal investigation into google. why president trump's top economic advisor is pushing back. melissa: conspiracy theorists preparing for a raid. the facebook event calling on alien hunters to invade area 51. how the u.s. air force is responding to the potential threat. that is coming up. i might join them. ashley: let's go. melissa: let's do it. ashley: road trip. ♪ most people think a button is just a button. ♪ that a speaker is just a speaker. ♪ or - that the journey can't be the destination. most people haven't driven a lincoln. discover the lincoln approach to craftsmanship at the lincoln summer invitation. right now, get 0% apr on all 2019 lincoln vehicles plus no payments for up to 90 days. only at your lincoln dealer. but dad, you've got allstate. with accident forgiveness they guarantee your rates won't go up just because of an accident. smart kid. indeed. are you in good hands? who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right u

look, i have not spoken to peter thiel about this. i did read some news stories, not sure where he's going, what he's pointing to. i meet with google, i meet with google's ceo on a regular basis. i think they're working for america, for our military, not for china. i don't know -- peter thiel is a good man, has been a great supporter of the trump administration, he's a very smart guy. i'm just not sure where he's going on this. so i have my doubts but one never knows. just let me say, you know, google, i guess it's very fashionable to pick on some of these big tech companies. maybe some deserve it, maybe some don't. but i want to say in my tenure here in the past year and a half, i've had long discussions with the google people, with their ceo, their new ceo, long discussions with tim cook of apple. i have not met with all the tech companies but my sense is they are very supportive of a, this country, b, this president and his agenda. i have not found problems there. and i think they're working hard and i don't believe for one minute

in talents here but when peter thiel is incorrect, he is majorly incorrect, and it is certainly true that google has had its own dance in china, of whether or not and how much to work with the government, that included how much to sensor its search engine which it then pulled out of and basically seeded the field in china, so this has been a hard thing for any company to deal with the chinese government in its sensorship rules but to accuse them of treason or so far beyond. i'll pushback the fact that they won't renew that contract with the u.s. department of defense and they're aiding google for example, with some of this facial recognition technology that is essentially spying on their own. >> google is also like any company as we saw at amazon has to deal with its own employees and they're not doing their contract. >> can i make it easy for everybody, and pithy? >> make it pithy. >> here is the definition of treason, the crime of betraying one's country especially by attempting kill the sovreign or overflow the government and then there's a definition of hyperbole and look, peter

peter teal calling for the -- peter thiel * calling for the fbi and the cia to investigate if google has been compromised. google has refused -- google has refused to work on project maven, the pentagon's artificial intelligence tore drones. >> the fbi conducts significant counter-intelligence operations and a lot of that has to do with cyber. the fact that a prominent business person is suggesting that china may be penetrating them is one thing. but the fbi i'm confident deals with google's cyber people on a regular basis like they do the defense industry every single day. it doesn't mean china doesn't have the capability to penetrate because they do. the united states defense industry that helps build nuclear power submarines, and china penetrated that through the defense industry. so they are going to keep trying. but rest assured the fbi is there and have much aware of china's malign behavior. liz: china's gdp growth dropped to its lowest in 29 years. maybe even apple considering it. your take on all that? >> pressure is mounting on the communist chinese regime. two years ago the

peter thiel is one of donald trump's top supporters from silicon valley. amazon is tapping kobe bryant and other big names for its prime day summer sale. the event began today and runs through tomorrow. they face competition from walmart and target. latest bloomberg business flash. still ahead, we look at oil's outlook after storms lash the gulf of mexico over the weekend with futures in focus next. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn and this is bloomberg markets. there are reports that hp and dell plan to move as much is 30% of production away from china in a bid to avoid tariffs on you was bound goods. the flexibility and supply chain is helping the company navigate the dynamics. >> we have a global supply chain that has flexibility in it. we have 25 manufacturing facilities across the globe. we are balancing the needs of our customers with the environment we are in. i think we've done a nice job of alan finkel tariff dynamics and will continue to work our way through that and hopefully, the two governments will come to a

it follows a speech given by billionaire tech investor peter thiel in which he questioned whether google‘s senior management had been infiltrated by chinese spies. google has dismissed the claims. australia‘s competition watchdog says it has reached an agreement with uber‘s food delivery service uber eats which will see the firm accept more accountability for delivery issues. many restaurants in the country had complained they were forced to take responsibility for matters outside their control, such as food being delivered late. showing you financial markets again. we can show you that the dow in the us ended down pretty flat really, but here in asia... not here, i‘m in london, but in asia, where the markets are still trading, they are all markets are still trading, they are a ll lower markets are still trading, they are all lower on the day. concern about the mood music between the us and china getting more negative than positive on trade. that‘s it for the business briefing this hour. makayla willjoin makayla will join me makayla willjoin me injust a moment for the news brie

attorney general to look into peter thiel's allegation that google's

how much do people listen to peter thiel in the valley? what kind of power does he have? >> he's very important. obviously he goes against the grain on a lot of issues and that's made him a successful investor. he went against the grain on most tech people and supported president trump. he definitely has the ear of the trump administration. they listen to him. so he's important but we have to look at the facts here. the facts are there's very little to show that google has been nothing but a great american company employing tens of thousands of americans. they are a world leader. if anything, the chinese have replicated some of what they've done and based on what google has done, i wouldn't be surprised if they are trying to break into the chinese marketplace. they should be. it's the fastest, biggest growing country there is. but the trade wars are overshadowing that so it's very very difficult. i think it's very important that we in the bigger issue, we look at our relationship with china and normalize it, move away from these tariffs and get on to the fact that here's

claims from peter thiel that google had been infiltrated by chinese agents and is working with the communist government. national security correspondent jennifer griffin with more. >> reporter: president trump sided with a billionaire tech investor who called for the fbi and cia to investigate google for working with the chinese military instead of the pentagon. >> it's a big statement when you say that the, you know, google is involved with china in not a very positive way for our country. so i think we'll all look at that. i know that our other agencies will be looking at it, and we'll see if there's any truth to it. >> reporter: peter thiel, who founded paypal and sits on the board at facebook, provided no evidence suggesting chinese agents had infiltrated google's artificial intelligence project. >> google is working with communist china but not the u.s. military. i think one explanation they figure they have to because if they don't give it to them through the front door, it'll be stolen through the back door. >> the work that google is doing in china is indirectly benefiting the chines

can i just go back to peter thiel and google? you said that the president trump should stop this with an executive order? what dud say you should stop it with? >> an executive order. congress should enact legislation. legislation takes a long time. >> what would it say? google, get out of china? >> google and everybody else on tech cooperation which has military cooperation which is most of their cooperation. that is no longer permitted. stuart: that is a major step. that would completely disrupt the trade talks. >> yes. we have to remember china is already harming our military personnel. they tried to bring down a c-130 last year in djibouti, in the horn of africa. they are trying to kill the crew. we have to understand it would be nice to be able to cooperate with china on tech but we have to understand the implications of our cooperation, how it is directly affecting our military personnel. by the way the chinese are going after our diplomats with the sonic attacks. brain injuries. this country wants to harm americans. we have

peter thiel is on the board of facebook, facebook in the cross hairs regulators themselves. there has been a bit of deflection within the facebook, google, i don't know if amazon said it publicly but sort of the big tech world, which is to say if, you know, stop looking at us and start looking at china in terms of the -- you know, people say should these companies be broken up or how should they be regulated and there's sort of this increasingly sort of argument from the big tech companies to say hey, go look at what's going on over there. >> but the competitive threat isn't china. >> now to try to connect the dots between the two i think it's a stretch too far personally it's an interesting one. >> the questions seem a little bit accusatory. >> a little bit? just a tad >> but i think it's fair to ask whether or not our big tech companies are actually walled off completely from cooperating with chinese authorities i think if we're going to ask that question in terms of national security concerns dealing with chinese companies -- >> fair enough, i would say larry page and ser

peter thiel is the most prominent supporter of trump in tech. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am viviana hurtado. this is bloomberg. an extraordinarily important time to speak with debbie dingell, not only because she is a congresswoman but far more, the heritage and all that she carries of democratic politics worldwide. moments ago, we heard from vice president biden. he said the president's comments are shameful and damaging. what response do you need to see from republicans to the president's three days of comments? rep. dingell: i come from michigan. district borders mine. the number of my michigan colleagues came out strongly against the president's comments yesterday. it has no place in the united states of america. it is divisive and creates hate in this country. we cannot tolerate it. we have got to stand up to it. the president is supposed to unite us, not divide us. tookpresident trump michigan by 10,704 votes, 2/10 of 1%. into1t

peter thiel is one of donald trump's top silicon valley supporters and donators. tom: thank you so much. on chinadent tweeting -- i will not read the whole thing. to state that at the end of the second tweed, the president goes into his tariff mac at -- mathematics again and we will have more throughout the morning. boutle is still with us and this is a chart of the emotion of the weekend, the silence out there of the few select people who have missed this great bull market. with seven spx randomly selected pulled -- pullbacks. what do you do? go to cash? wow, what do you do? it's been difficult. part of it is when you get a pullback in equities and you think it will be another pullback that will reverse quickly. by the feddriven stepping in and sending a dove us message or is there a risk for the next pullback that could ask -- that could escalate? tom: where are read -- where are we right now. we are out one and two standard deviations. a very aggressive move since the lows in december. if you look at where we are we haveanuary, 2018, not made that much headway

has agreed tosoft invest a billion dollars in a partnership with peter thiel and elon musk. as part of the partnership, open ai will use the azure fund services to train and run the groups ai software. joining us to discuss is gregg brockman. >> thank you for having me. we are working together with microsoft to build next-generation supercomputers. what were trying to accomplish is to build what we call artificial general intelligence, trying to build a computer system that is as capable as a human at being able to master to domain of a study and master more fields of study than one human can. emily: give me some examples of what it might be able to do. greg: for example, build a solveer system that can medicine better than humans can. we do it by increased specialization. talk to the first doctor who doesn't ultrasound but cannot read it, so he has to go to a different doctor to get the context of what is going on. this is not a problem we can solve by increasing how much we learn. we need tools that are capable of helping us all these problems. that's what we want to apply

isry: microsoft [indiscernible] they were co-funded by elon musk and peter thiel and other people in silicon valley. developwill jointly supercomputing technology and work together to commercialize open ai creations. paul: valet shares fell after output missed estimates. mess added to supply concerns. second-quarter production fell to 64 million tons down 12% from the previous time. they had to scrap a target output following a deadly collapse in january. shery: the new china tech for scott off to a stellar start. working with many of the company's top startups. will hear from the chairman and ceo. this is bloomberg. ♪ >> this is daybreak: asia. the governor of the bank of japan says he and his team are keeping a close eye on the threat to global growth and the bank will maintain its policy of powerful easing to miss inflation to their 2% target. saying that the bank is monitoring global risks to assess any new policy moves. economyding the global has been heightened and some nervousness has been seen in global financial markets. the bank needs to pay close attention to the [indisc

elon musk and peter thiel gave at least $1 million went it was created. facebook's libra got a little love from lawmakers on capitol hill but will they welcome the new money? this is bloomberg. ♪ emily: let's look at how some of the major cryptocurrencies fared monday. ethereum allcoin, down. facebook's cryptocurrency project libra continues. congress grilled david marcus over the proposed stable coin, one that some analysts say could users tothe platform's create a global currency. i want to bring in the ceo of ripple and protect's -- and bloomberg tech's kurt wegner, who was in the hearing. >> i think they have taken a very bold, ambitious effort, which is part of what makes silicon valley great. i think there is a little bit may be more than ambitious, maybe arrogant. the white paper articulates it is a new currency. i think the u.s. dollar works pretty well. this is a moment where i agree with the president. we don't need a new fiat currency. there might be some smaller markets, the argentinian peso, that might make sense. , a way they rolled it out

he wants the attorney general to look into peter thiel's allegation that google's work with china is "seemingly treasonous." should google be worried?

thiel comments where they should be investigated because it is working with the chinese military a charge google denies she did not respond. back to you. >>> thank you, josh. let's hit the top tech stories from the power rundown alphabet surge twitter is soaring too amazon stumbling just a bit we have anthony joining us from aegis capital. ageless victor is with us. thank you. let's start with alphabet. what did you see in this report? i note that one of your colleagues laura martin said the company should pro-actively break itself up. something we were talking about here yesterday. >> okay. first of all, the first quarter numbers when they missed expectatio expectations, they are worried if google faded. that was refuted with the numbers yesterday with the growth in almost all line items. >> that is juicing the stock today after the announcement of the bigger buyback >> the bigger buyback. more sko tho than the buyback i cloud business investors were pushing alphabet to provide more disclosure on the cloud business they gave us the cloud business. it is $8 billion run rate. they gave us

>> what peter thiel said recently is quite amazing for those of you who might not be sure. he actually said that google is treasonous for working with china. look, google has an unbelievable amount of power, whether be their power to be able to manipulate search results. they control 92% of all search engine results now in the country. if you actually look at the split of political contributions in google, back in 2016 google employees gave over a million dollars to hillary clinton and zero dollars to donald trump. it is real questions here whether a company with this kind of power will really continue to do no evil? remember that used to be the ethos of google? there is questions and evidence to show it is really not the case anymore. how to handle it as a free market conservative is a question i'm asking myself and our movement is continually trying to figure out the answer because we don't always want to put on more government regulation to some of these companies that are acting in not the best way. stuart: these are america's super performers on the world stage. you do

thiel reportedly calling for investigation into google over work with china. what allegations could mean for the tech giant. >> top story this half hour a nationwide crackdown on he immigration ice action planned 10 major cities trying to round up thousand already ordered out of the country lindsey graham visited the border on friday maria bartiromo spoke with him yesterday on "sunday morning futures." >> we've got pushback from some democrats, and liberal mayors trying to stop the ice officials and border patrol officials from carrying out their directive. >> ice raids today are focused on criminals who have gone to court lost their case, democrats are also advocating decriminalizeing entry into united states provide free health care to illegal immigrants once they get here. >> u.s. citizenship immigration services acting director cubing until director. >> good to see you -- >> large scale immigration raids failed to materialize in "the wall street journal" reports ice agents put on standby for potential raids this weekend, while some operations continued in

emily: meanwhile, investor peter thiel has called out google for what he calls "seemingly treasonous" work with china. we do not have specific evidence for his allegations, but the president is now saying that the administration is going to look into google's work with china. does that concern you? senator warner: well, it concerned me when a group of folks at google did not want to work with our defense department but were willing to partner with some of the chinese tech companies who were, quite frankly, creating an almost orwellian social credit system, where they monitor the behavior of the chinese population, 1.3 billion people, in ways that are, frankly, the antithesis of everything that we in the west would support. i think that is one of the reasons why you have seen 2 million people a few weeks ago in hong kong go to the streets rather than have the chinese communist party system and that kind of orwellian network take over hong kong, as well, so i do think there is some explaining that google needs to make. i have met with the google ceo, he said they are backing out of some

emily: i have to ask you about your old friend peter thiel, who made news again this week with a very controversial speech. he is on the board of facebook. he also called out google for being "seemingly treasonous in its work or efforts to get back into china." facebook has tried to get into china as well, but openly questioned whether google has been infiltrated by foreign spies. what is your reaction to that? max: i have yet to ask him what he meant. i am far from being able to comment. peter is no stranger to saying controversial things to attract attention to an issue. i think the questions around how do we interact with china at a trade level, policy level, is an important question. i think of all the things i like , or dislike about the current administration, the one thing they did do is they brought up how do we deal with china in a world where intellectual property, for example is treated , as a different thing by different countries. that said, i think peter was trying to attract attention. i will stop there. i do not want to reinterpret his work. emily: he certainly got it.

thiel taking aim at another silicon valley giant his accusations are against google we'll tell you why he's calling for a federal investigation by the fbi and maybe the cia. morgan stanley spotting an untapped and growing market it says investors are missing we've already got burgers without the meat soon we could have coffee without the beans. we'll explain that all that and more ahead on the exchange halftime report comes back right after this tell him we're flexible. don't worry. my dutch is ok. just ok? (in dutch) tell him we need this merger. (in dutch) it's happening..! just ok is not ok. especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. >>> welcome back to the "the halftime report. the energy report now. energy stocks sliding in the wake of barry. thankfully it was not nearl

. >> you make those statements, you have the money that peter thiel has you can make life miserable for people from now to kingdom come >> that sort of ties to huawei, which sort of ties to wilbur ross and nbc today reporting the president is considering whether to oust him, maybe because of the census retreat is the market like that or not >> i've been trying to figure out all morning, wilbur ross considered to be a hard-liner, also considered to be not as much involved as lighthizer or, you know, peter know vario ekn o wilbur ross is a better friend, acosta much more of a hot button, but my sources indicate that don't expect any change in our trade talks if -- in other words, he was not the man that the chinese hate the chinese don't like a guy who wrote the book death by china. no one calls navarro treasonous. >> no, they don't. >> do you think -- alphabet is treasonous >> not as far is aias i'm aware >> do you think he has information about something like a phil brick kind of earn. >> information that would rise to the level that journalists would consider is credible and would repo