Skip to main content

tv   Bloomberg Technology  Bloomberg  February 25, 2021 5:00pm-6:00pm EST

5:00 pm
♪ emily: i am emily chang in san francisco and this is "bloomberg technology." tech shows lead a rout in u.s. stocks as investors move away from pandemic winners. gamestop surging more than 100% on retail investor action, volatility and volume the words of the day. we have the latest.
5:01 pm
plus, arc investments cathie woods says bitcoin has potential, we talked to damien vander wilt about what he thinks in an exclusive interview. in twitter's net siegel on analysts day -- ned segal on earnings. let's start with u.s. markets, the nasdaq dragged down by a selloff in stock. meanwhile, a flurry of stocks out at the bell, including salesforce, airbnb and doordash.
5:02 pm
kriti: a lot of tech pain, historical parallels here. yields boosting and spooking equity investors. we will look at the nasdaq 100 specifically. look at the futures over three days, sticking to that range pretty closely. interesting levels to be watching. let's look at the board again and another major equities story, gamestop surging a second straight session. look at that as two days, 141% is how much the shares have risen. important note retail trading is still having a massive impact on the stock even though you have seen short interest fall furtand emily, you mentioned earnings come i want to show you what is happening in the post-market with some of those names. this cake it off with best buy down 9%, holiday sales and the 2020 when outlook disappointing investors, shift to travel and dining people are expecting
5:03 pm
could hurt the business. salesforce, kind of the same idea, coming in late on the idea that the big tech momentum you saw 2020 won't last in 2021. doordash revenue tripling, but losses doubling from a year ago, shares down as much as 13% in the post-market, dow down only 5.4 percent and leslie airbnb beating estimates, showing them and despite the covid surge but still down on the day in line with the rest of the market. emily, not a good day for tech, clear even after the market closed. emily: not a good day. we talked to airbnb ceo brian chesky about that in a moment about that beat on estimates. brian chesky is coming up, and i will also be speaking to the ceo of doordash tomorrow. kriti, thank you for the update. keep it right here on bloomberg television. even on a down day, stocks popular with the day trader crowd surging, gamestop doubling
5:04 pm
at one point before ending 19% higher. i want to bring in process of reporter katie greifeld. katie walk us through the highs and lows of the day? katie: well, it was an interesting day because it felt like the gamestop story was a sideshow whereas for weeks, this is all anyone was talking about. but gamestop even in the early hours of trading was up as much as 100%. it. those gains and closed at 19% higher. what is interesting is that you saw stocks like amc, blackberry, other reddit favorites actually raised their gains in some cases. and it is interesting to compare this moment to what it felt like at the end of january be because again -- because again, we are seeing enthusiasm in gamestop, but if you look at the options market for example, we are not
5:05 pm
seeing the activity we saw in january. the question is, how long will this last? no one expected it to come back and are surprised it is there, but maybe this time it won't be as long-lasting as it was in january. emily: i want to talk about gamestop specifically. we heard news about jim bell, the ceo, resigning this week. you wonder if this is part of ryan cohen's big plan for some sort of turnaround. what is fueling this new momentum? katie: that is an open question. and to the point amc, express, all fizzled out those rallies, gamestop might have fundamentals behind it. we found out chief financial officer jim bell was pushed out. bloomberg news reported that was over disagreement in strategy with ryan cohen, the kiwi.com co-founder -- chuy.com founder.
5:06 pm
we saw gamestop took off after cohen tweeted a picture of mcdonald's ice cream, which sounds like nothing, but people pointed out it might be alluding to perhaps cohen is going to turn around gamestop the way mcdonald's finally fixed it ice cream machine spirit so the reddi -- ice cream machines. so the reddit grab things that is a signal, and that may be why it closed 19% higher, a huge gain. emily: let's talk about other parts of the market, bonds flattening and you have been pointing out other interesting trends? katie: yeah, a brutal day for tech. if you look at the nasdaq 100, only two stocks closed in the green, so a brutal day for tech. a lot of people have pointed to the bond market as a reason why,
5:07 pm
because even the parts of the market that would typically benefit from higher yields took eat today. all the sectors pretty much closed negative and that is because people have been focusing on the rate of change in bond yields. use our rates rise by levels that we haven't seen in over a year. that might be spooking equity market investors a little bit, how the fed might respond, so that is what you saw this general de-risking across asset classes. emily: what do you expect tomorrow? the tech selloff ongoing, gamestop to the odds, what is next? katie: i want to see how this plays out in different funds and different portfolios. i was watching risk parities today, portfolio strategy where you have risk income allocations and you try to match volatility. so wanted a when you have both
5:08 pm
bonds and stocks selling off, that is very painful. and a proxy i like to look at is this a risk-parity etf. it had its worst day since march 2020 today because again, you saw stocks and bonds selloff together. it will be interesting how this affects different funds, different portfolio managers, and how they switch positions to contend with this market. emily: all right, bloomberg's katie greifeld, we will be looking for your reporting tomorrow. thanks. coming up, shares rising amid that tech selloff as there are big announcements on analysts day. we talk about it with twitter ceo siegel. this is bloomberg. ♪ when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited.
5:09 pm
come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mind at your local xfinity store. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪
5:10 pm
5:11 pm
emily: twitter revealed parts of a potential subscription product that will let users charge followers for access to special content and experiencea. this -- experiences. this, as the social network targets to double its annual revenue to $7.5 billion by 2023. joining us now is twitter ceo ned segal. how will this work? ned: we will double our velocity and reach more goals, which is more users by the end of 2023 and doubling our revenues to $7.5 billion in 2023. we are moving faster and innovating in great ways and we have the confidence to put long-term goals out there and
5:12 pm
invest to realize them. emily: super follows, i should say, how much money is this going to generate? ned: super follows is something we are excited about because it may benefit the content creator and put money into their pockets as opposed to putting money in ours. we want to facilitate transactions that help people put their best content on twitter at their followers, people finding that incredible content to add to what is already on twitter. we will also work on other subscriptions as well, areas where we might provide premium service to consumer or business. there are lots of opportunities for us around subscription to help people. emily: so look, you want to add 120 million users over three
5:13 pm
years. what makes you think you can do that if you got to 190 million in 15? ned: we added 40 million over the course of the past year and had more people who came to twitter and became a daily active user because of product improvement than we have ever had before. the top of funnel, the number of people who come to twitter every day who haven't been on it for a month or more, who haven't used the service before, has been consistent at about 2 million. we have lots of opportunities and have been doing a better job of helping people find what they are looking for once they come. we grew our mdau 84% year-over-year in india, as an example, of where we are seeing explode of -- explosive growth to get to 300 5 million over 2023 and hopefully far beyond that. emily: what is the opportunity
5:14 pm
you see? ned: this is a natural extension of serving the public conversation, taxed, images, video, audio tweets and audio chat rooms. you can find topics that might be most interesting to you, join a conversation or listen one, when you can tweet alongside them or when you, as a content creator, emily, you can create a room and talk about one of the topics of the day around silicon valley on our service. we feel we are extending the way we serve the public conversation. it isn't dated today, but we hope to roll it out more broadly soon and are really excited about it. emily: are you concerned though, that you might miss wade's clubhouse is now writing and you will be too late -- now writing, and you will be too late, that they will define that category?
5:15 pm
ned: we are talking about the way people communicate and not a particular service paid they want to be part of the conversation. sometimes, they don't know all the people that are interested in a topic they care about. twitter is really great at helping people find those people, find those topics, details around the topics that they care about most. so this felt like a natural extension to where we already serve the public conversation. i don't think this is a moment in time, this is a great way we can leverage what we already have on twitter to do a better job of it. emily: look, jack dorsey has been called to testify again on capitol hill in march. there are a lot of issues percolating, still folks believing you shouldn't have banned the president permanently and less time we talked, you said there was no path back for trump on twitter. bill gates told us that is the wrong call. , has an opinion. -- everybody has an opinion. are you reevaluating that decision or future decisions of
5:16 pm
that edger? ned: we have covered that one, emily. but one of the things that is great is when it is bill gates having an opinion about policies of others, they come to twitter to be part of that conversation. and whether the topic is our policies or our products, people find other people who want to talk about it and hear from them on twitter. we recognize lots of people, at these from different angles around our policies, it is constructive, people listen to each other and we are always eager to learn and observe what the world says about the way we run the company. you have probably noticed that in the recent past, when we update policy, we often put it out for comment first that we can learn from people who use the service before we complete the policy work. emily: now, looking ahead,
5:17 pm
snap hitting a $100 million market cap, which is amazing, obviously tiktok out there, how much are these other services a threat, given they cater to a younger user, and that could be the next generation of twitter? ned: we just think about helping people find what is happening in the world and what people are talking about. there are terrific apps on our phones for other use cases. sometimes they overlap a little with what we do. oftentimes, there are people you can find on other services. but when you want to know what is happening in the moment, whether it is around sports or entertainment, the launch of a new product from a company you are a big fan of, twitter is a great place to see and to be part of that conversation. and that is something that is unique to us, as we have become better and better to help people find those conversations. that we are seeing it turn up in our results. emily: we had a huge tech
5:18 pm
selloff today, although twitter defied gravity, ending the day up almost 4%. we have talked a lot about the possibility we are in a tech bubble, the bubble could be close to popping, what is your position? ned: i am much better at assessing what is going on at twitter than i i'm thinking more broadly about stocks. but when we look at twitter, we have never felt more confident about our strategy, our team, our execution and on the heels of our team thinking about those things, we are doubling down ended sting more in 2021 then in 2020. we are going to grow our headcount, we expect revenue to grow faster, we will see how it plays out in the broader economy. with these two really big market opportunities for people who don't use twitter, and over $150
5:19 pm
billion of digital ads people spend on -- $150 million of digital ads people spend on twitter each year, we think there is a lot of opportunity for growth. emily: how should investors address potential regulatory headwinds, not just twitter, but tech in general? ned: we live in an incredibly dynamic time and i suspect the conversations around privacy, around how companies choose what doesn't doesn't happen on their service around section 230 in the united states, these conversations will go on for many years. at we feel we have an important role in these conversations, speaking for millions of websites you have reviews -- website who have reviews of products, who have chat rooms, who have public conversations around them, today, the sites are held to account by with the government
5:20 pm
might say about them, but we are held to account by our shareholders and employees and other people who use the services. and we want people to think about transparency and choice as a way to solve concerns the world has around these things that we worry regulation may end up benefiting the very largest companies, but not billions of other companies who would face the same regulations. emily: twitter cfo ned segal, fascinating to watch developments out of analysts day, and thank you so much for stopping by. coming up, salesforce c-shares slumping in late trading after reporting earnings results. all eyes are on the current state of activation. -- activision.
5:21 pm
5:22 pm
emily: salesforce earnings out after the bill, company boosting revenue views after consumers
5:23 pm
spend more on software but slow down. shares down after hours, chris rothstein joins us. chris: yeah, they reported another solid quarter, 5.8 billion dollars in revenue in 20% year-over-year growth, but you are seeing overall the market had a rough day over all, and there are some investors wondering if they are going to grow mainly through acquisition, and even though they raise guidance, acquisitions aren't paying off for them. the acquisition for the fiscal year 2021, which they just finished, these big acquisitions aren't paying off but they keep getting bigger and bigger, which is worrisome for some investors. -- big acquisitions are paying
5:24 pm
off, but they keep getting bigger and bigger, which is worrisome for some investors. emily: you think black will pay off? chris: great question. when they announced it, the stock went up a little bit but anytime you have these huge acquisitions, when you look in the past at instagram, facebook, google, there are many of them, and sometimes there is a reaction that is not great, but at the same times, huge opportunity for salesforce to move from departmental software where they sell to sales or marketing at one area, to getting every employee on their plaque warm. that is a big change they need to make if they really want to compete with microsoft and big enterprise players as they continue to move forward in their vision. emily: let's talk about the competition, because there is microsoft, there is mahler players like hotspot -- smaller players like hotspot. how well positioned is salesforce vis-a-vis the competition? chris: they are well put
5:25 pm
-- they are well-positioned but they have great competitors. hotspot is focusing on crm and core areas and they really want to become the leader for high-growth companies. and that is an area where we will be challenging salesforce. and microsoft and linkedin, they are doing a lot more bundling of their services, which is also a competitive threat to salesforce. but they also have this large ecosystem that people continue to build for them which has protected them. emily: the tech selloff we saw today, is this a blip or part of a longer trend? chris: the market has been doing very well and a lot of these stocks are valued at 30, 40
5:26 pm
times revenue. i think there is some room where it could go down. but at the same time, the fundamental companies, most are putting up impressive numbers, hitting guidance in a lot of cases, they are still growing and have a long run way ahead of them. so we will [indiscernible] it might be a blip or it might go on longer. emily: chris rothstein, i appreciate your insights. we will continue listening to the salesforce earnings call and bring you any updates as we have them read coming up, we speak to the galaxy digital president damien vanderwilt about the rise and fall of bitcoin and whether it will really become a mainstream trend. that is next. this is bloomberg. ♪
5:27 pm
5:28 pm
5:29 pm
5:30 pm
♪ emily: welcome back to bloomberg technology. leading voices spoke virtually today and the big question was what will it take to push digital assets over the edge and into the portfolios of the world's largest investors. guest: it's coming to the forefront of a conversation with all companies public and private. >> in 2021 we will see more corporate participation. >> we believe there is a $100 trillion market for additional
5:31 pm
monetary network. >> when you aggregate all of these use cases for bitcoin -- >> show consumer use cases then they will decide what it is. >> you get into the trillions of dollars of market cap potential. >> it make sense to buy as much of that asset class as we can. >> we have gone from y to y not. emily: now, i am joined by our guest. thank you so much for joining us. in our last interview, your colleague said every company in america would be investing in bitcoin like tesla and square. i am saying that just 5% of finance executives are thinking about this. how many companies are going to be doing this and how soon? guest: thank you for spending some time with me. there are a few different things
5:32 pm
to consider one answering the question in terms of pace. will we look at the conversations we have with corporate and institutional clients and any part of those constituencies considering investing in the sector. the first part of the problem is safety. the second problem particularly for the corporate is tax treatment and help bitcoin is viewed as an intangible asset. then into unsolvable problems, it does take a little bit of time. the big four ordering firms, most of the major investment banks and specialists firms like galaxy are looking to ella -- educate corporate's, corporate treasurers and institutions on how to think about that, how
5:33 pm
investors will think about that. we are watching carefully the dialogue that some of the pioneers in corporate america are having with their investors. microstrategy, jack dorsey and others and as we learn and experience how their shareholders are feeling about the allocation, i think there will be a growing comfort in the treasury functions. to start contemplate small allocations into the sector. emily: you came from goldman sachs over to galaxy. what do you think their first moves will be in terms of the retail and institutional client base in crypto? guest: most major banks at the moment are working on products for their retail high net worth channels. we're trying to think through that with them and helping the
5:34 pm
banks figure out how to have a safe product for their wealth channels. that is where we can help architecting products, figure out the right way to understand risks. the first point of entry for the big banks will be there. i also think big banks are thinking seriously about how our sector currently has no access to wholesale funding. people who know the sector well, they will understand that interest spreads on a lot of the products we trade are very interesting. i suspect in the near future, you will see some of the large banks starting to work with people in the sector like ourselves to provide finance facilities. if you look at the information that was revealed today in the market which is really important for the sector, that was the coinbase -- complicit in that is
5:35 pm
they have done a lot of work with the sec throughout the time of confidential filing today to get the sec comfortable. there will be a lot of back-and-forth dialogue that we look forward to seeing once they go into their effective time. implicit in this being released today is that their lead advisory banks have done a lot of due diligence and become comfortable working with the sector in particular. this will start to open the doors and all of the different committees and control functions that banks have being able to do more things for the sector. emily: on that note, we heard janet yellen earlier this week saying that bitcoin is an extremely inefficient way to pay. i spoke to bill gates, who is not bullish on bitcoin at all. he talked about the possibility
5:36 pm
that tesla could make more money on the coin investment than a profit on electric cars in 2020. let's hear what he had to say. >> elon musk has tons of money and he's very sophisticated. i don't worry that his bitcoin will randomly go up or down. i think people get bought into these manias who may not have enough money to spare. i'm not bullish on bitcoin. my general thought would be that if you have less money than elon musk, you should probably watch out. emily: damien, what is your response to that? guest: i think it is difficult to take one extreme response to how to think about the sector from any individual. when people are looking at the allocation of assets that they need to make with their
5:37 pm
particular circumstance, whether it is individual or an institution acting on behalf of many individuals or pension plans or incorporate as we talked about before, your particular circumstance is different to lots of other people. the available asset allocation options that you have a be very different. when you contemplate what we see today as being a likely path for what people historically thought was a very safe asset, the u.s. dollar or gold, when you have the backdrop of looming inflation that is starting to permeate intense markets with what we saw in 10 year bonds today, and you could make an equally compelling case that having a hard asset like a coin that is very secure, very easy to transact with relative to any of the comparable assets. the making a small allocation into the sector seems very reasonable to me subject to your own asset allocation
5:38 pm
requirements. emily: significant volume you can see there over a galaxy. can you keep it up or is it just a standout quarter? >> the one thing we can't buy us time. we are working 20 hours per day to service the herd of clients that need our help. currently, there are institutional grade players in the market the people are comfortable trusting to do their business. the safety is super important to all the clients that i have brought up on wall street covering. that safety requirement takes time. it takes time to walk people through the diligence process. the custody process.
5:39 pm
we are -- as fast as we can. we're trying to hire 50 people in the first quarter to keep up with all the client demand we have at the moment. emily: that is certainly some expansion. thank you so much along with our own journalist. and cute coming up, joe biden's effort -- moves on the table to make the u.s. less reliant on former -- foreign supplies. what will this spell for u.s. china relations? this is bluebird. -- this. this is bloomberg. ♪
5:40 pm
5:41 pm
5:42 pm
♪ emily: welcome back to bloomberg technology. president biden is working with congress to secure $37 billion in funding to boost the domestic chip industry. this is stemming from a series of things including excessive stockpiling from chinese telecom companies like huawei that were blocked from the trump administration. here with me to discuss the global chip shortage is the chief security officer of huawei. thank you for joining us. with this in perspective for us. how bad is the chip shortage and how much worse will it get? guest: first of all, all the companies that sold to us that help accumulate stockpile in american companies did so pursuant to licenses issued by
5:43 pm
the government. the government knew what we were allowed to buy and maybe of the volume. the combination of the coronavirus and the impact of the entity list, the ability of american companies to sell to others has had an -- a negative effect on us. also a cascade on other industries. we lost out at almost $20 billion in 2019 and we will have a significant impact for this year. we were in the black in 2020. we are hurting and we know we are going to be hurting going forward. we hope that in the interest of the american jobs from the $12 billion more that huawei spends through american companies for nonsensitive products, we hope the biden administration will focus on what's in the best interest of the united states on the question of whether those companies can sell to us. eventually, i think the decision will be made that it's in the
5:44 pm
long-term best interest of the united states those sales are permitted. emily: if things continue, what position will you be in? >> as i said, we are hurting. we expect that to continue. some of the things we have had to do over the past year or two, we have had to prioritize some of our products. they may not need certain kinds of chips. the ones that are needed by customers. that we ration the technology we have stockpiled. it helps us prioritize what we are doing in terms of research and development. our spending in r&d is up because of the need to adjust. we are looking hard to find alternatives to these products. we have not answered all of the requirements that we have, so we are going to be hurting for a while. we are going to get through this. the leadership of the company
5:45 pm
are not going to lose their jobs because we have tough times. we are in this for the long haul and i hope the american jobs are going to be here for the long haul as well. emily: how are you getting on with the biden administration thus far and how confident are you that things could or will change? guest: we're certainly not confident. we are not reaching out to the biden administration yet. the senior leadership in the relevant issues that are priorities to us, hopefully the release of our chief financial officer and the entity list, the leaders of commerce and the appointees in those positions are not there yet. we recognize that the priorities of the u.s. government are endemic. i am heartened to see that there is a focus on american semi conductor industry, supply chain, and there are important efforts being led at the
5:46 pm
national security council. america is going to be a whole lot safer, there's going to be greater transparency and great efforts for a safer supply chain. those processes informed by some of the stuff that germany is doing at the eu, are things that when the biden administration is willing to talk with us, we can talk about proven risk mitigation members -- measures and there can be transparency. emily: while you wait and hope, can you keep your core business is running and for how long? guest: we will definitely keep the core businesses running. for the indefinite future, we expect we will be having our annual briefing with the press as we did last year probably sometime early in march. where the leadership will go into a lot more detail and hopefully, they will be able to give us some of the specific metrics or specific data that you're asking for in terms of what's going to be impacted.
5:47 pm
how big an impact are the core business. it had a big impact on the mobile device business, but we did release a new device with own -- operating system so we are not giving up. emily: chief security officer of huawei, thank you for giving it to us straight. still ahead, home prices are soaring across the u.s. as buyers fight over an increasingly scarce resource and that is listings. our guest will talk about his outlook for the housing market for the year and the companies fourth-quarter results. that's next. this is bloomberg. ♪
5:48 pm
5:49 pm
>> shares fell more than 19%
5:50 pm
despite better-than-expected fourrterults at redfin. the online real estate platform has seen a massive boom in the mortgage business last quarter with 210% sales growth. joining us to discuss this is the ceo of redfin. it's obviously a crazy day for tech in the markets. are you getting caught up in that or is this something different? guest: i have no idea. i sound a little froggy. we had a great quarter. we beat our own expectations and analyst expectations. there's going to be volatility in the stock arc it and the housing market.
5:51 pm
we can't worry too much about what happened to our stock in one day. emily: let's talk about your outlook on the market. there are some fascinating and unprecedented trends happening now. you are seeing this record people fleeing from the city. what are the trends that you would highlight? guest: i think you did a good job. america is on the move. right now, inventory is rock-bottom. it's like the soviet era supermarket. the shelves are empty. i've never seen any market like this. we have had listings with more than 150 showing request getting 30 or 40 offers. buyers are bringing lawn chairs to lineup to get into an open house. builders report that their
5:52 pm
weight lists are 90 deep for single unit. it used to be that way in san francisco or new york or los angeles or seattle. now, it's everywhere and it is distorting the space time continuum of the local economies. in nashville, people looking within nashville are spending about $400,000 to buy a home. out-of-towners are spending 700,000 or $800,000 on a home. it's changing everything about that economy. emily: does this change in the second half of the year when people are mostly vaccinated or does this go on for several more years as part of a prolonged trend or shift in population distribution? >> i think there is a long-term migration trend that began before the pandemic people. there was unaffordable crisis.
5:53 pm
once people are vaccinated, they will be liberated to work with they want -- where they want. employers are saying you can work remotely. that is created space for people to go where they want. interest rates are going to increase. 15% year-over-year price increases like we saw in december and january are sustainable. -- are not sustainable. i hope that demand slackens somewhat to a sustainable rate. emily: speaking of what's happening and the media. how are you digesting this as the ceo of a public company? guest: i don't think you can worry about how much her stock goes up or down in a single day. you have to create long-term shareholder value by delivering better service your customers, taking care of your employees.
5:54 pm
there is a tendency in the press to look for hero and a villain. sometimes, the smaller investor the retail investor has been seen as a hero and the hedge funds been seen as the villain. i'm not sure that's the right which formulated because almost everyone investing has paid a king's ransom over the past few years while the american worker has struggled to see her income growth. i tend to see all investors as benefiting from the market rally. the folks i worry about are the people who are working their tails off and earning a regular wage. emily: if folks have made a king's ransom, are we in a bubble that's about to pop especially when it comes to tech? guest: it is anyone's guess. i know of deals where a firm's
5:55 pm
closing a private round and today they close, investors are offering to double the price. lawyers working on spac's did his many deals in february as they did all last year. i don't think anyone believes that this can continue forever. that is why when your stock goes up to 100 or down to 20, you can't be too troubled by it. maybe you weren't worth a hundred and you work worth 20, maybe you are something in between. emily: are specs going to end badly? guest: i don't think you can paint with such a broad brush. there are good companies going public via spac and others using that vehicle because they couldn't get out any other way. i do worry that if you are
5:56 pm
availing yourself of spac so you can market future results in a way that a traditional ipo wouldn't allow, that it encourages behavior. so many companies going public right now through a spac would have a hard time. throughout traditional listing, a direct listing. certainly when you are trying to buy companies, companies that a year ago you would have said have to get bought now incredibly say if you don't pay up, we will go public throughout spac. it is created more liquidity in the market. it is added but you can't say everyone is garbage. some of them are really good. emily: i always appreciate your metaphorical dialogue. it's best not to fall into the trap of looking for heroes and villains. that does it for this edition of
5:57 pm
bloomberg technology. i will be speaking to the ceo of airbnb coming up in the next hour. after that, i will speak with the ceo of salesforce. you don't want to miss either conversation. stay tuned. this is bloomberg. ♪
5:58 pm
5:59 pm
6:00 pm
♪ >> good morning. we are counting down to asia's major market open. >> welcome to daybreak: asia. the global bond rally that pushed u.s. yields to a one-year

9 Views

info Stream Only

Uploaded by TV Archive on