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00:00♪ CORY: I AM CORY JOHNSON IN FOR EMILY CHANG. AND THIS IS "BLOOMBERG TECHNOLOGY." U.S. PAYROLLS FALL BUT WAGES SOAR. THE FUTURE OF EMPLOYMENT WITH THE HEAD OF TALENT AT LINKEDIN. HIGH HOPES TESLA'S SOLAR POWER COULD HELP THE ISLAND RECOVER FROM THE STORM. NEW REPORTS ABOUT SWELLING IN THE IPHONE 8 BATTERY. WE DIG INTO HOW BIG THE PROBLEM COULD BE FOR APPLE. THE U.S. SEPTEMBER JOBS REPORT SHOWED PAYROLLS DECLINED FOR THE FIRST TIME SINCE 2010, BUT IT IS ALL ABOUT HURRICANES THAT HIT THE U.S. WITHOUT THAT THE LABOR MARKET MAYBE DID NOT LOOK SO BAD. MAYBE BECAUSE PEOPLE WITH LOW WAGES COULD NOT GO TO WORK OR OVERTIME. LABOR PARTICIPATION RATE RISING TO THE HIGH SINCE 2014. THE DIRECTOR OF NATIONAL ECONOMIC COUNCIL SPOKE TO BLOOMBERG FROM THE WHITE HOUSE. HE SAID THE U.S. CAN INCREASE THIS FIGURE BY LURING MORE BUSINESSES TO THE COUNTRY. > > WHEN YOU LOWER THE TAX RATE, WE MAKE OURSELVES MORE COMPETITIVE. WE MAKE IT THAT BUSINESSES WANT TO LOCATE IN THE UNITED STATES. WHEN THEY LOCATE IN THE UNITED STATES, THEY HAVE TO HIRE LABOR. THEY COMPETE FOR LABOR. THEY HIRE PEOPLE. CORY: IN TECHNOLOGY, THERE IS ANOTHER SET OF ISSUES WHEN IT COMES TO JOBS. THE HUNT FOR TALENT AND THE WIDENING SKILLS GAP. LET'S BRING IN THE FOUNDER OF DIGITAL SCHOOL UNIVERSITY. BEFORE THAT, HE WAS AT LINKEDIN. THE JOBS REPORT WAS INTERESTING. THERE YOU ARE. THE JOBS REPORT, VERY INTERESTING. YOU COULD SEE SOME LONG-TERM TRENDS IN THE ECONOMY REFLECTED IN THIS REPORT. > > YOU CAN. WHAT WILL BE INTERESTING IS TO SEE WHAT HAPPENS IN THE MONTHS AHEAD WHERE THE REAL RETAILERS WILL GO AT IT PREPARING FOR HOLIDAY SALES. THOSE OF US WATCHING JOBS ARE CURIOUS HOW THE NONTRADITIONAL, NONDIGITAL BUSINESSES LIKE THE GAPS WILL COMPETE WITH AMAZON DURING THE HOLIDAY SEASON. WHAT KIND OF SKILLS WILL THEY BE ADDING AND HOW THAT WILL CHANGE THE LANDSCAPE IN THE MONTHS AHEAD. CORY: I AGREE. I THINK THE NUMBER ONE NEGATIVE TREND THAT JUMPS OUT IN THE REPORT IS THE LONG-TERM MOVEMENT AWAY FROM RETAILING. THERE IS MOVEMENT BECAUSE OF THE HURRICANE. PEOPLE WERE NOT ABLE TO SHOP IN CERTAIN PLACES. BUT THAT IS A TREND WE HAVE BEEN SEEING FOR SOME TIME. > > IT HAS BEEN. WHAT IS INTERESTING TO ME IS WHAT IS NOT IN THE JOBS REPORT. HUGE GROWTH IN THE GIG ECONOMY. OVER THE LAST 10 YEARS, WE HAVE HAD OVER 3 MILLION JOBS ADDED OF INDEPENDENT CONTRACTORS. THESE ARE PEOPLE NOT INCLUDED IN THE JOBS REPORT. ALL THE VIEWERS TODAY ARE BEING TOUCHED BY THE GIG ECONOMY WHETHER YOU ARE TAKING UBER WERE STAYING AT AIRBNB. THESE NUMBERS AND THIS INCOME ARE NOT BEING REPORTED. IT WILL BE FASCINATING TO SEE HOW THE JOBS REPORT EVOLVES TO ACCOUNT FOR THE GROWING GIG ECONOMY. CORY: THERE IS A LINE IN THE LABOR REPORT. THE ONLY CATEGORY OF JOBS THAT HAS SEEN INCREASES IS INFORMATION TECHNOLOGY. THAT IS PEOPLE WHO DO WHAT I DO, CREATE MEDIA, REPORT THE NEWS. I THOUGHT IT WAS INTERESTING AT THE TIME WE ARE HAVING THE DEBATE ABOUT THE ROLE OF FAKE NEWS AND FACEBOOK AS A PLACE PEOPLE ARE GETTING INFORMATION. THAT WE SEE THE JOBS FOR PEOPLE CREATING MEDIA FACING DECLINE. > > I WOULD NOT SAY THERE IS A DECLINE IN NEW MEDIA CREATED. THAT IS AN INTERESTING PART OF THAT. EVERYONE CAN PUBLISH MEDIA NOW THROUGH THEIR MOBILE DEVICES, WHICH IS AN INTERESTING TREND. THERE MAY NOT BE JOBS ON THE PAYROLL FOR MEDIA CREATION BUT WE CANNOT SAY THERE IS A DECLINE IN MEDIA CREATION OVERALL. CORY: THAT IS MY POINT. THE IMPRESSION OF EARNINGS AND THE VALUE OF JOBS IS A CONCERN NOT JUST WHEN PEOPLE ARE GOING FROM DISAPPEARING MANUFACTURING JOBS TO NOW DISAPPEARING RETAILING JOBS. BUT WE ALSO HAVE TECHNOLOGY JOBS THAT ARE NOT HIGH INCOME JOBS WHEN THERE IS NOT A LOT OF MONEY TO BE MADE WHEN THERE IS A LOT OF CONTENT TO BE CREATED. > > THE THING NOT REFLECTED IN THE JOBS REPORT I AM SEEING TALKING TO EMPLOYERS, OUR UNIVERSITY DEALS WITH LOTS OF ORGANIZATIONS STRUGGLING TO FIND SKILLS IN THINGS LIKE E-COMMERCE AND DATA ANALYTICS. THIS INFORMATION CATEGORY IS EXPLODING IN LOTS OF DIFFERENT AREAS. THAT IS WHY MY COLLEAGUES AND I FOUND THIS UNIVERSITY, TO TRY TO ADDRESS THE SHORTAGE OF TALENT IN THIS NEW WAY OF DOING BUSINESS, THIS NEW DIGITAL ECONOMY. CORY: TELL ME MORE ABOUT THE BUSINESS. > > WE OPENED THE SCHOOL IN SEPTEMBER. WE HAVE A LIVE CLASS OF 25 STUDENTS NOW WHO ARE EXCITED ABOUT WHAT WE ARE BUILDING. WE ARE ALSO LAUNCHING AN ONLINE UNIVERSITY THIS OCTOBER. WHAT WE ARE FINDING TALKING TO EMPLOYERS IS THEY ARE SUPER EXCITED TO HAVE A SCHOOL PROVIDING STUDENTS WITH EVERYTHING FROM DIGITAL STRATEGY ALL THE WAY THROUGH TO DIGITAL DESIGN, USER EXPERIENCE, CONTENT, UNDERSTANDING SOCIAL NETWORKS. WHEN WE TALK TO COMPANIES, LET'S GO BACK TO THE RETAIL INDUSTRY. WHEN YOU TALK TO PEOPLE WHO WANT TO COMPETE AGAINST THE AMAZONS, THEY HAVE 50,000 OPEN JOBS AND ARE LOOKING FOR NEW HEADQUARTERS. WHEN YOU TALK TO THEIR COMPETITIVE RETAILERS, THEY WANT PEOPLE THAT CAN HELP THEM HAVE THE SKILLS TO COMPETE WITH AMAZON. THOSE SKILLS ARE IN SHORT SUPPLY. THAT IS WHAT WE ARE GOING AFTER AT ISDI. CORY: IT IS INTERESTING YOU ARE STARTING FROM THE NOTION OF WHAT EMPLOYERS WANT AS OPPOSED TO WHAT STUDENTS THINK THEY WILL WANT OR WORKERS THINK THEY WILL WANT TO GET TO THE NEXT LEVEL. > > YEAH. THIS IS THE HARD PART. I GET ASKED A LOT THE MOST IMPORTANT DIGITAL SKILLS I NEED TODAY. OUR ANSWER TO THAT FOR OUR STUDENTS IS, DON'T YOU WANT TO BE EQUIPPED FOR THE SKILLS YOU WILL NEED TOMORROW? WE KNOW WHAT IS NEEDED TODAY, BUT WE KNOW THEY WILL BE DIFFERENT FIVE YEARS FROM NOW. THE CONCEPT OF AGILITY, A GROWTH MINDSET, IS SUPER IMPORTANT. THAT IS THE APPROACH WE TAKE AND HOW WE TEACH OUR STUDENTS AND THINK ABOUT THE LEARNING PROCESS. CORY: FINALLY, TALK TO ME ABOUT WHAT THE STUDENTS LOOK LIKE. > > OUR AVERAGE AGE OF STUDENTS IS 40 YEARS OLD. WE HAVE EVERYONE FROM PEOPLE IN DIGITAL MARKETING TO PEOPLE WHO HAVE THEIR OWN BUSINESSES TO WRITERS LOOKING TO FOUND THEIR OWN BUSINESS. WHAT THEY ALL SHARE IS A COMMON DESIRE TO BE RELEVANT AND COMPETE IN THIS NEW DIGITAL LANDSCAPE WHICH IS INCREASINGLY ON THE INTERNET. HOW DO I GET EYEBALLS SO I CAN REACH NEW CUSTOMERS AND SUCCEED IN WAYS I COULD NOT THROUGH TRADITIONAL BUSINESSES? CORY: AND THEY DO NOT HAVE TO GO TO OPTOMETRY SCHOOL. GREAT STUFF. THANK YOU, STEVE CADIGAN. COOL STUFF. SHARES OF T-MOBILE CLIMBING IN FRIDAY'S SESSION. SHARES OF SPRINT LOWER. THE PARTIES ARE SAID TO BE FINALIZING THE TERMS OF THEIR MERGER WHICH COULD BE ANNOUNCED BY THE END OF THE MONTH. A TIE UP BETWEEN SPRINT AND T-MOBILE WOULD CUT THE NUMBER OF WIRELESS CARRIERS FROM FOUR TO THREE. COMING UP, BITCOIN MAKING A BIG INROADS INTO THE BIG BANKS. BANKS LOOKING AT CRYPTOCURRENCY. WE WILL BRING YOU THE DETAILS NEXT. "BLOOMBERG TECHNOLOGY" LIVE STREAMING ON TWITTER RIGHT NOW. CHECK US OUT WEEKDAYS AT 5:00 IN NEW YORK, 2:00 IN SAN FRANCISCO. THIS IS BLOOMBERG. ♪ CORY: AMAZON COULD BE SELLING PRESCRIPTION DRUGS BY 2019 . AMAZON SOLD DRUGSTORE.COM TO WALGREENS. THE SITE CLOSED LAST YEAR. AMAZON WAS AN INITIAL INVESTOR BUT WALKED AWAY FROM THE BUSINESS. THE COMPANY REFUSED TO RESPOND TO REQUEST FOR COMMENT. JAMIE DIMON HAS CALLED BITCOIN A FRAUD. KYLE BASS WEIGHED IN EARLIER ON BLOOMBERG. > > I THINK THERE IS A DIGITAL GOLD RUSH HAS -- THAT HAS GONE ON. I THINK A LOT OF PEOPLE WILL LOSE A LOT OF MONEY. A BUNCH OF ICO'S WILL GO BROKE. A BUNCH ARE FRAUDS. THAT WILL BE PROBLEMATIC FOR PEOPLE THAT RUSHED IN. I FEEL IT IS A BIT OF A MANIA AT THE MOMENT. I THINK IN THE LONG TERM, IT IS A VIABLE ASSET CLASS. CORY: PEOPLE FAMILIAR WITH THE MATTER TELLS US WALL STREET IS MOVING TO EMBRACE DIGITAL CURRENCIES. THEY ARE LOOKING AT OTHER WAYS TO GET INVOLVED IN BLOCKCHAIN. JOINING US NOW IS LILY KATZ. THE CONVERSATION ABOUT DIGITAL CURRENCIES STARTS AND STOPS WITH BITCOIN. A LOT OF PEOPLE STARTING TO THINK ABOUT BLOCKCHAIN. WHAT IS IT ABOUT BITCOIN A MAKES IT IMPOSSIBLE FOR WALL STREET TO USE IT AS CURRENCY? > > THERE ARE A LOT OF THINGS WALL STREET EXECUTIVES HAVE TO WORRY ABOUT WHEN THEY ARE CONSIDERING ABOUT WHETHER TO START ADOPTING THIS. THERE IS FRAUD. THESE BANKS HAVE REGULATIONS. THEY HAVE ANTI-MONEY LAUNDERING REGULATIONS. BIG BANKS ARE SEEN AS A PLACE WHERE PEOPLE CAN SAFELY PUT THEIR MONEY. THEY HAVE A REPUTATION FOR THAT. DO THEY WANT TO RISK THAT REPUTATION BY ADOPTING AN ASSET THAT IS SEEN AS A RISKY, VOLATILE ASSET? CORY: THE VOLATILITY OF THE ASSET MAKES IT HARD FOR THE BANKS TO MAINTAIN A REPUTATION. > > YES. CORY: IT IS ALSO THE KNOW YOUR CUSTOMER RULES. A LOT OF PEOPLE IN THE DIGITAL CURRENCY SPACE DO NOT UNDERSTAND HOW SACROSANCT IT IS IN THE MARKET. THE KNOW YOUR CUSTOMER RULE IS ABOUT MONEY LAUNDERING AND MORE. > > THAT IS WHY WE HAVE SEEN SO MANY EXECUTIVES COME OUT IN THE LAST MONTH. JAMIE DIMON SAID BITCOIN IS A FRAUD, I WILL FIRE ANY TRADER TRADES BITCOIN. WE SAW LARRY FINK, THE C.E.O. BLACKROCK, TALK ABOUT HOW MUCH BITCOIN IS USED IN CRIMES. WE HAVE THE CHAIRMAN OF U.B.S. SAY HE IS SKEPTICAL. WE DID HAVE A COUPLE OF EXECUTIVES TALK ABOUT -- GIVE MORE BALANCED VIEWS. THE MORGAN STANLEY C.E.O. SAID THIS MIGHT HAVE SOME FUTURE, I AM NOT TOTALLY CONVINCED IT IS NOTHING. GOLDMAN'S C.E.O. ALSO SAID I HAVE NOT MADE A DECISION ON IT YET. HE BROUGHT UP AN INTERESTING POINT WHICH WAS PEOPLE ONCE VIEWED PAPER MONEY AS THIS WEIRD THING, SO WHO IS TO SAY BITCOIN IS NOT THE SAME. CORY: LLOYD BLANKFEIN COMES FROM THE TRADING PART OF THE BUSINESS AND UNDERSTANDS THE TRADING NATURE OF IT MORE THAN JAMIE DIMON. THERE IS ALSO THE ASPECT OF JAMIE DIMON'S BUSINESS ON SOME LEVEL IS ABOUT HAVING LOTS OF FINGERS IN THE PIE WHEN MONEY IS MOVED FROM ONE ACCOUNT, YOU WRITE A CHECK AND IT TAKES THREE DAYS, AND CHARGES HAPPEN. THAT IS J.P. MORGAN'S BUSINESS. IF YOU TRADE A STOP ON THE J.P. MORGAN PLATFORM IT MOVES FROM ONE HAND TO THE NEXT. RECORDING THOSE TRANSACTIONS IS PART OF THEIR BUSINESS. IF BLOCKCHAIN CAN TAKE THAT AWAY, J.P. MORGAN LOSES ALL THAT BUSINESS. > > WHEN YOU THINK ABOUT WHY BITCOIN WAS CREATED IN THE FIRST PLACE, IT WAS CREATED TO DISPLACE THE CENTRALIZED BIG BANKS. WHY USE A BIG BANK? THAT WAS THE WHOLE POINT OF BITCOIN. IT IS SMART OF THESE BANKS TO BE THINKING ABOUT THIS AS A POTENTIAL RISK. CORY: SO MANY OF THE INITIAL COIN OFFERINGS HAVE CREATED SPECIALTY CURRENCIES. BITCOIN IS NOT ONLY GETTING HEADLINES, IT IS GETTING TRADES. I WANT TO SHOW YOU ON THE BLOOMBERG TERMINAL THE EUPHORIA AROUND BITCOIN. TYPE IN 8492. YOU GET THE SAME CHART IN YOUR BLOOMBERG TERMINAL. YOU SEE THE ONLY TIME THAT COIN HAS BEEN OVERSOLD ON A TECHNICAL BASIS IS GOING ON WITH BACK TO MID-2015. THERE HAS BEEN A BULLISH TRADE. PEOPLE LOVING BITCOIN. BITCOINS PRICING WAS $240 TWO YEARS AGO AND NOW TRADING AT EXTREME HEIGHTS NOW OVER $4000. THE EXCITEMENT IS MORE ABOUT BITCOIN. ETHEREUM STARTING TO GET SOME ATTENTION BUT NOT AS MUCH AS BITCOIN. > > MORE THAN $2 BILLION HAVE GONE INTO THE INITIAL COIN OFFERINGS WHICH IS PRETTY WILD. PEOPLE ARE NOT IGNORING THIS STUFF. CORY: DO YOU GET A SENSE THERE IS EXCITEMENT ABOUT BLOCKCHAINS FOCUSING ON BITCOIN AND SOMETHING ELSE? ICO'S SEEM LIKE SOME OF THE DUMBEST INVESTMENTS BECAUSE IT IS HIM IS ON US LIKE A SPECIALTY ACQUISITION CORPORATION WHERE YOU BUY STOCK IN SOMETHING BEFORE THE BUSINESS EXISTS. > > A LOT OF PEOPLE MAKE THE DISTINCTION BETWEEN ICO'S RAISING MONEY FOR A COIN VERSUS MAY BE SHADY CRYPTOCURRENCY COMPANIES STARTED BY SOMEONE IN A BASEMENT TRYING TO RAISE MONEY FOR THEMSELVES. CORY: THERE WILL BE SOME OVERLAPS. > > THERE MAY BE SOME OVERLAPS. CORY: LILY KATZ, THANKS SO MUCH. COMING UP, PUERTO RICO TAKES TO QUIT HER -- TWITTER AND ASKS TESLA FOR HELP. COULD ELON MUSK HELP THE ISLAND? WE WILL TALK ABOUT THAT NEXT. THIS IS BLOOMBERG. ♪ CORY: LOTS OF COMPANIES ARE SENDING LOTS OF SUPPLIES TO PUERTO RICO, INCLUDING TESLA. NOT CARS. SOLAR PANELS AND BATTERIES. THE HURRICANE KNOCKED OUT POWER TO 90% OF BUSINESSES AND HOMES. THE GOVERNOR REACHED OUT TO TESLA'S C.E.O. ELON MUSK USING TWITTER. HE SUGGESTED ELON MUSK HELP REBUILD THE ENTIRE ISLAND GRID. THEY SPOKE TODAY. HOURS LATER, ELON MUSK TOOK TO SOCIAL MEDIA SAYING TESLA WILL DIVERT RESOURCES TO PUERTO RICO AND OTHER AFFECTED AREAS. JOINING ME NOW, MAX CHAFKIN. WE TALKED ABOUT THIS ON BLOOMBERG RADIO AND THEN ELON MUSK COMES OUT WITH THE TWEET. TESLA'S LIMITED PROFITABILITY DOES NOT MEAN THEY ARE GETTING A BIG TAX BREAK. THIS IS A GENEROUS EFFORT. THEY SAY THEY MAY BE DELAYING A PRODUCT NOT EVEN ON THE MARKET. > > YOU HAVE TO LOOK AT THE SEMITRUCK IS A SIDE PROJECT. FOR TESLA TO JUSTIFY THIS INCREDIBLE VALUATION IT HAS, IT NEEDS TO GET MODEL 3 SEDANS OFF THE PRODUCTION LINES. READING BETWEEN THE LINES, I WOULD SAY TESLA CAN ONLY HANDLE ONE SIDE PROJECT AT A TIME. ELON MUSK HAS DECIDED -- CORY: SIDE PROJECT? > > PUERTO RICO VERSUS -- ELON MUSK CAN HANDLE MANY SIDE PROJECTS, AS WE HAVE LEARNED. HE IS RUNNING TO COMPANIES. A COUPLE OF DAYS AGO, HE INTRODUCED A NEW ROCKET. CORY: LET'S TALK SPECIFICALLY ABOUT SOLAR POWER. THE WAY TESLA'S SOLAR POWER BUSINESS WORKS , SOLARCITY, IS TO PROVIDE POWER TO HOMEOWNERS, POWER THAT GOES BACK INTO THE GRID. IT IS NOT TO RUN POWER INTO SOMEONE'S HOUSE ANY SELF-SUSTAINED EFFORT -- IN A SELF-SUSTAINED EFFORT. > > THIS IS ONE OF THE BIG REASONS ACCORDING TO ELON MUSK THEY MERGED THE COMPANIES. SOLARCITY MADE AND INSTALLED SOLAR PANELS. YOU NEED A CONNECTION TO THE GRID TO MAKE THAT WORK. WITH THESE BATTERIES, THE IDEA IS A HOMEOWNER COULD GET OFF GRID IF THEY WANTED. A FEW MONTHS BACK, ELON MUSK TOOK TO TWITTER TO SAY HE DOES NOT THINK THE GRID IS THE LONG-TERM WEIGHT MOST PEOPLE GET POWER. MANY HOMES WILL MOVE OFF THE GRID AND RUN OFF OF THEIR ROOFTOP PANELS. THAT IS THE KIND OF VISION. IT IS IMPORTANT TO KEEP IN MIND IT IS A LONG WAY OUT. CORY: HE IS OFFERING A PRODUCT NOW TO PUERTO RICO. ANOTHER WAY SOLARCITY WORKS IS THEY HAVE INSTALLERS WHO CAN INSTALL SEVERAL POWER -- SOLAR POWER. ARE THERE INSTALLERS AVAILABLE FOR PUERTO RICO? > > ON TWITTER, PUERTO RICANS WERE COMPLAINING COMPANIES WERE CHARGING SOMETHING LIKE $12,000 TO INSTALL THESE POWER WALLS WHERE IT SHOULD COST SOMETHING LIKE $5,000 OR $6,000 ACCORDING TO TESLA. ELON MUSK TOOK TO TWITTER AND SAID THAT IS A SUPPLY ISSUE, THEY ARE SENDING ENGINEERS TO PUERTO RICO. IT GETS TO THE IMPORTANT POINT. SOLAR INSTALLATION IS LIKE A CONSTRUCTION BUSINESS. IT IS NOT NECESSARILY A HIGH-PROFITABILITY INDUSTRY. THAT IS KIND OF THE TRIP TO SOLARCITY, NOW TESLA ENERGY, IS BEING ABLE TO DO THIS AT SCALE AND LOTS OF THEM AT ONCE. PEOPLE QUESTIONED THIS. THAT WAS ANOTHER PART OF THE RATIONAL WITH TESLA. THEY CAN NOW PACKAGE CARS AND SOLAR PANELS AND BATTERIES ALL AT ONCE SO YOU'RE NOT HAVING TO DEAL WITH LOTS OF SALESPEOPLE WERE OTHER THINGS INCREASING THE COST FOR SOLARCITY. CORY: FOR THE PEOPLE WHO GET BORED WHEN THEY HEAR ABOUT THE MISSABLE DEBT, PUERTO RICO THEM -- MUNICIPAL DEBT, PUERTO RICO, THE FINANCIAL SYSTEM IN PUERTO RICO PRESENTLY PREVENTS THE ISLAND FROM REBUILDING A MODERN INFRASTRUCTURE BECAUSE THEY DO NOT HAVE THE MONEY TO DO IT. THEY DO NOT HAVE THE FACILITY ANYWHERE ELSE IN THE UNITED STATES MIGHT HAVE. UNTIL THAT GETS RESOLVED, WE WILL NOT SEE A SOLAR PUERTO RICO. WE WILL NOT SEE A CUTTING EDGE POWER GRID LIKE WE MIGHT SEE IN TEXAS OR FLORIDA. > > IT IS WHAT MAKES THIS KIND OF PROPOSAL, IS SUPPOSEDLY THE GOVERNOR PUERTO RICO AND ELON MUSK TALKED TODAY, IT MAKES IT INTRIGUING BECAUSE OVER 90% OF THEIR POWER LINES ARE DOWN NOW. THEY DON'T REALLY HAVE A GRID AT THE MOMENT. CORY: THEY COULD BUILD A NEW ONE. > > IT IS ENTICING TO THINK OF PUERTO RICO IS A MICROCOSM OF THE PLACE WITHOUT TRANSMISSION LINES WHERE PEOPLE ARE USING SOLAR PANELS ON THEIR HOMES. ELON POINTED OUT THERE ARE A FEW ISLANDS THAT HAVE DONE THIS. PUERTO RICO IS MUCH BIGGER AND MORE DEVELOPED THAN AMERICAN SAMOA. 3.5 MILLION PEOPLE WHO WANT TO RUN AIR-CONDITIONING AND TV'S ALL THE TIME. CORY: THE COOLEST THING ABOUT ELON MUSK IS HE MAKES YOU THINK ABOUT THINGS THAT HAVE NOT BEEN POSSIBLE BEFORE. WINTER THAT BE A GREAT THING IF WE COULD HAVE A NEW, MODERN INFRASTRUCTURE FOR PUERTO RICO? WE WILL SEE. MAX CHAFKIN, GREAT STUFF AS ALWAYS. WE APPRECIATE YOUR TIME. FACEBOOK, TWITTER, AND GOOGLE IN THE SPOTLIGHT AS LAWMAKERS CONTINUE TO PROBE RUSSIA'S INFLUENCE ON THE ELECTION. WHAT CHANGES COULD BE COMING FOR TECH GIANTS? WE WILL TALK ABOUT THAT. YOU CAN LISTEN TO BLOOMBERG ON THE RADIO. THIS IS BLOOMBERG. ♪ MARK: YOU ARE WATCHING "BLOO MBERG TECHNOLOGY." PRESIDENT TRUMP HEALTH-RELATED EVENTS OF THE WAYMO HOW TO MARKET HISPANIC HERITAGE MONTH AFTER COMING UNDER FIRE FROM LET'S KNOW LEADERS WHO SAY HIS RESPONSE OF RELIEF TO PUERTO RICO WAS POOR. PRESS SECRETARY SARAH SANDERS SAID GASQUET THE WHITE HOUSE EXPLANATION FOR PRESIDENT TRUMP'S CRYPTIC MESSAGE WHEN HE CALLED HIS MEETING THE CALM BEFORE THE STORM. > > HE DOESN'T WANT TO LAY OUT HIS GAME PLAN FOR OUR ENEMIES. IF YOU ARE ASKING IS THE PRESIDENT TRYING TO DO THAT, ABSOLUTELY. MARK: IN REGARDS TO NORTH KOREA, SANDERS REITERATED ALL OPTIONS REMAIN ON THE TABLE. NORTH KOREA PLANS TO CREATE A MISSILE THAT CAN HIT THE U.S.. THIS OF THE NORTH WANTS TO SHOW IT IS READY FOR CONFIRMATION -- CONFRONTATION. THE MISSILE COULD THEORETICALLY HIT THE U.S. WEST COAST. THE INTERNATIONAL CAMPAIGN TO ABOLISH NUCLEAR WEAPONS IS THE WINNER OF THIS YEAR'S NOBEL PEACE PRIZE. BEATRICE TOLD REPORTERS IN GENEVA THAT THE ELECTION OF DONALD TRUMP AS U.S. PRESIDENT SENDS A MESSAGE. > > THERE ARE NO RIGHT HAND FOR THE WRONG WEAPONS. IF YOU AREN'T COMFORTABLE WITH THE IDEA OF DONALD TRUMP HAVING NUCLEAR WEAPONS THAT HE IS ABLE TO LAUNCH, YOU ARE REALLY UNCOMFORTABLE AND NUCLEAR WEAPONS IN GENERAL. I THINK THAT REALLY IS THE MESSAGE WE WANT TO COME ACROSS. MARK: THE U.S. SECRETARY GENERAL TWEETED HIS CONGRATULATIONS. A LAW ENFORCEMENT OFFICIALS SAYS LAS VEGAS SHOOTER STEPHEN PADDOCK BOUGHT ROUNDS OF MISSILES MONTH AGO. OFFICIALS OF NOT DISCLOSED -- HAVE NOT DISCLOSED IF HE USED THESE ROUNDS DURING THE ATTACK. THE UNITED NATIONS LOWERED ITS FLY IN HAITI. THERE ARE NOW ABOUT 100 INTERNATIONAL SOLDIERS STILL IN THE COUNTRY AND THEY WILL LEAVE WITHIN DAYS. THE MISSION'S OFFICIAL END DATE IS OCTOBER 15. GLOBAL NEWS 24 HOURS A DAY. POWERED BY MORE THAN 2,700 JOURNALISTS AND ANALYSTS IN MORE THAN 120 COUNTRIES. I'M MARK CRUMPTON, THIS IS BLOOMBERG. ♪ CORY: THE HOUSE INTELLIGENCE COMMITTEE IS ASKING OFFICIALS FROM FACEBOOK, TWITTER, AND GOOGLE TO TESTIFY PUBLICLY AS PART OF THE RUSSIAN PRO. -- PROBE. ACCORDING TO TWO PEOPLE FAMILIAR, BLOOMBERG SAT DOWN TO TALK ABOUT THAT AND OTHER TOP TECH STORIES OF THE WEEK. HE STARTS BY ASKING IF TECH COMPANIES CAN EXPECT MORE REGULATION. > > IT IS A VERY REAL POSSIBILITY. OUR COLLEAGUE SARAH FRIER REPORTED THIS WEEK HOW FACEBOOK LOBBY TO FOUR YEARS WITH THE FEC AND WASHINGTON DC TO KEEP FROM HAVING TO HAVE THEIR POLITICAL AD SPENDING REGULATED THE WAY IT IS ON TV, RADIO, AND PRINTS. THEIR ARGUMENT IS THE SPACE IS TOO SMALL AND THERE ARE NOT ENOUGH CHARACTERS FOR YOU TO ADD ALL OF THOSE DISCLAIMERS THAT HE WOULD HAVE ON RADIO AND TV. NOW, THERE IS A REAL POSSIBILITY THAT LEGISLATORS COULD COME IN AND FORCE REGULATORS TO IMPOSE LIMITS ON THIS AND THAT COULD SLOW UP THE TRICKLE OF MONEY. > > IT IS REMARKABLE TO ME THAT FACEBOOK AND TWITTER SEEMS LIKE PUNCHING BAGS ALL WEEK AND FACEBOOK THIS WEEK, THE STOCK WAS ACTUALLY UP HEARING WHY DOES WALL STREET CARE ABOUT THE SENTIENT DAY? -- ANDABOUT THIS AND SHOULD THEY? > > I THINK THE STOCK MARKET HAS BEEN BULLISH AND NOT REALLY RESPONSIVE TO THE RUSSIAN CONCERNS. I ALSO THINK FROM FACEBOOK'S PERSPECTIVE, THERE WILL ALWAYS BE THE FACT THAT IT IS REFLECTIVE THAT THE SITUATION WAS FAR WORSE WITH THE GOVERNMENT HANDLING ELECTION HACKING. I THINK THEY WILL ALWAYS BE THE SECOND PLAYER THERE AND THERE WILL BE A LOT OF POLITICAL COVER FOR THEM IF THE SITUATION GETS WORSE. THAT WOULD REASSURE PEOPLE THAT FACEBOOK WOULD TAKE -- HERE. > > THERE IS A NEW PROBLEM CALLED SOLAR FLEX. AMAZON WILL BE PICKING PRODUCTS UP IN THE WAREHOUSES OF THE SUPPLIERS AND CONTRIBUTING THEM -- DISTRIBUTING THEM DIRECTLY TO SUPPLIERS. HOW CONCERNED SHOULD UPS AND FEDEX THE? > > - -- BE? > > NOT TOO CONCERNED. LONGER-TERM, AMAZON LIKES TO EXPERIMENT AND ITERATE AND THEY LOVE SPENDING MONEY ON WAREHOUSES AND THEIR NETWORK. THE FACT IS IF YOU SEE THEM -- IF THEY START TO SEE SUCCESS ON A LIMITED BASIS, THERE IS NOTHING STOPPING THEM FROM EXPANDING THEIR NETWORK. IN THE NEAR TERM, THOSE NETWORKS COST BILLIONS OF DOLLARS. FEDEX AND UPS ARE VERY WELL-ESTABLISHED, IN PLACE, THEY HAVE EVERYTHING IN PLACE READ I DO NOT THINK THAT IS SOMETHING THAT AFFECTS THEM IN THE NEAR FUTURE. > > I AGREE WITH THAT. AMAZON IS A GROWING MARKET AND LOOKING FOR WAYS TO FULFILL THE DEMAND. THIS WILL BE ONE PIECE OF THE SUPPLY CHAIN. LET US TALK ABOUT UBER. THERE IS NO WE CAN SILICON VALLEY WITHOUT MORE UBER DRAMA. THE BOARD UNANIMOUSLY VOTED TO MOVE AHEAD WITH THE SOFTBANK INVESTMENT. > > TELLS THE WHOLE GOAL OF THIS YIELDS. GOVERNMENTS PLUS SOFTBANK AND THE IDEA WAS HOW CAN WE DO THE PIECES TOGETHER. EVERYBODY IS GETTING SOMETHING. THERE WAS A LOT OF NEGOTIATION DOWN TO THE WIRE. LITERALLY DAY OF, NIGHT OF, PEOPLE WERE FIGHTING ABOUT WHAT EXACTLY WOULD GO INTO THIS. WHEN OF THE CENTRAL POINTS OF THE DEBATE WAS HOW MUCH TO CRACK DOWN ON TRAVIS'S ROLE IN THE COMPANY GOING FORWARD. THE MESSAGES TARGETING HIM WERE VERY CLEARLY ABOUT HIM. THERE WAS THE LANGUISHING SHOULD MAKE IT RESTRICTIVE OF PROCEDURAL THE LESS MEAN-SPIRITED AND THAT BROUGHT EVERYONE TOGETHER EVEN THOUGH THERE WERE STILL THINK PEOPLE DO NOT LIKE ABOUT IT. THERE WAS ENOUGH AGREEMENT TO GET THE FOREGOING. > > WHAT DOES THAT EXTRA $1.25 BILLION MEAN GOING FORWARD? > > THE IMPORT OF THE DEAL IS THE SECONDARY, STILL IN THE RACE OF $9 BILLION. SOFTBANK AND ITS INVESTORS HAVE 14.7% OF OUTSTANDING SHARES. THE NUMBER IS A MOVING TARGET. THIS IS GOOD FOR THE COMPANY BUT IT IS MUCH SMALLER THAN THE MUCH LARGER SECONDARY INVESTMENT THAT IS GOING TO HAPPEN HERE. CORY: THAT WAS BRAD STONE AND ERIC NEWCOMER. THERE COULD BE AN IPO FOR LL FRESH TO DISTANCE ITSELF FROM BLUE APRON'S FACE PLANTED IP O. HELLO FRESH HIS ARMS -- THE SWITCH RAISE 500 $31 MILLI -- $531 MILLION DOLLARS. SWITCH BUILDS AND OPERATES DATA CENTERS AND EVEN THOUGH IT IS A TECH STARTUP, THE COMPANY HAS BEEN PROFITABLE FOR THE PAST FOU R YEARS. GET RID OF BIAS. WE WILL EXPLORE A RESUME-FREE WORLD NEXT. GET RID OF BIAS. THIS WEEK, WE ARE READY YOU THE BEST INTERVIEWS, INCLUDING ALL THE HIGHLIGHTS IN THE VANITY FAIR ESTABLISHMENT SUMMITS OF L.A. AND MARK CUBAN FROM THE DALL --AND DALLAS MAVERICKS OWNER MARK CUBAN. THIS IS BLOOMBERG. ♪ > > THE FOLLOWING IS A PAID ADVERTISEMENT. > > IT IS THE MOST VERSATILE GRILL YOU CAN OWN. ALL WITH THIS ONE GRILL. IT IS A SUPERIOR WOODFIRED GRILL THAT GIVES YOU THE ELITE TASTE. TASTE THE DIFFERENCE. > > MANY OF YOU KNOW HER AS THE MULTIPLE GRAND CHAMPION BARBECUE WINNER. SHE LIVES, BREATHES AND EATS BARBECUE. > > BREAK IS AN ACCOMPLISHED CHEF. > > ON THIS PROGRAM YOU WILL LEARN TO MAKE THE BEST GRILLED FOOD YOU HAVE EVER HAD. > > TODAY YOU WILL LEARN HOW YOU CAN GET THAT INCREDIBLE RESULT WITH THE TRAEGER RENEGADE ELITE. > > IT IS DIGITAL. IT DOES ALL THE WORK FOR YOU. THERE IS NO BABYSITTING LIKE WITH OTHER GIRLS, YOU CAN'T MESS IT UP. YOU GET GREAT RESULTS EVERY TIME. > > AND IF YOU HAVE NEVER GRILLED WITH WOOD, YOU ARE MISSING OUT. THAT IS WHAT YOU GET WITH THE TRAEGER RENEGADE ELITE. I COULD NOT BELIEVE THAT THE TRAEGER IS THE BEST RESIDENTIAL GRILL OUT THERE. I HAVE ONE MULTIPLE GRAND CHAMPIONSHIPS AND EVEN A WORLD CHAMPIONSHIP USING THE TRAEGER GRILL. > > WE WILL SHOW YOU HOW YOU CAN GRILL, SMOKE, BAKE, BARBECUE AND GRILL. STAY TUNED. > > I HAVE COOKED ON CONVENTION OVENS. I HAVE COOKED ON A GASS GRILL , I HAVE COOKED ON CHARCOAL AND HARDWOOD. > > I WAS ABLE TO BE THE GRILL CLEAN. I FEEL LIKE I CAN COOK ANYTHING ON THERE AND BE SUCCESSFUL. > > IT IS THE EASIEST AND MOST STRESS-FREE WAY TO COOK AND THE FOOD COMES OUT OF IT IS WONDERFUL. > > WE GOT THE GRILL AND DECIDED TO COOK SOME RIBS AND I FELL IN LOVE WITH IT. THE FLAVOR WAS JUST EXCELLENT. > > I WOULD RECOMMEND TRAEGER, BUT I DON'T HAVE TO. IT RECOMMENDS ITSELF. > > COOKING WITH A TRAEGER RENEGADE ELITE IS SIMPLE. ANYONE CAN DO IT. YOU DON'T HAVE TO BE A PROFESSIONAL COOKMASTER. > > LOAD YOUR HOPPER WITH THE NATURAL WOOD PELLETS FLIP IT ON AND IT IS THAT SIMPLE. > > THAT IS IT. REALLY, YOU WALK AWAY, ENJOY YOUR DAY, SET A TIMER AND COME BACK WHEN READY. > > LOOK AT THAT. THE MOST SUCCULENT, TENDER, MOST AMAZING MEATS YOU HAVE EVER SEEN. > > THEY LOOK INCREDIBLE. > > I WANT YOU TO SEE HOW BEAUTIFUL THIS IS. THE MEAT IS ABSOLUTELY SUCCULENT ABSOLUTELY DELICIOUS. LOOK AT ALL THE JUICES THAT ARE RIGHT THERE, ALL ON TOP, LOOKING GORGEOUS. > > IT IS BECAUSE THE TRAEGER RENEGADE ELITE IS DIGITAL. IT MAINTAINS AN ACCURATE TEMPERATURE THAT COOKS PERFECTLY EVERY SINGLE TIME. NO BABYSITTING IS REQUIRED. > > IT IS TRULY THE EASIEST EIGHT GRILL YOU WILL EVER OWN. > > THE TRAEGER GRILL FOR ME HAS BEEN GREAT BECAUSE I HAVE BEEN ABLE TO MASTER THE ART OF GRILLING. > > YOU CAN'T SCREW UP. IT IS IDIOT PROOF. YOU PUT IN YOUR PELLETS, YOU TURN TO THE TEMPERATURE YOU WANT, COME BACK AND THE FOOD IS DONE. YOU CAN DO ANYTHING FROM SMOKE TO BAKE TO BARBECUE TO ROAST. IT DOES IT ALL. > > IT FREES UP A LOT OF TIME, WHERE I DON'T HAVE TO WORRY ABOUT BABYSITTING. I CAN WALK AWAY, HANG OUT WITH MY DAUGHTER, MAYBE GIVE HER AN HOUR WHILE SHE IS GETTING READY TO DO HER HOMEWORK, THEN WE HAVE DINNER. IT GIVES ME MORE TIME WITH MY KIDS. I DON'T HAVE TO BABYSIT THE BARBECUE GRILL. GREG: THE TRAEGER RENEGADE ELITE IS THE MOST VERSATILE GRILL YOU CAN OWN. YOU CAN GRILL, YOU CAN SMOKE, YOU CAN BARBECUE, YOU CAN BAKE, YOU CAN BRAISE, YOU CAN EVEN ROAST ON THIS. THIS IS GOING TO BE OUR SMOKER. WHEN YOU SET IT TO THE SMOKE SETTING, IT IS GOING TO AVERAGE BETWEEN 116 TO 118 DEGREES. PERFECT FOR SMOKING. HOMEMADE SMOKED SALMON. DANIELLE: LOOK AT THIS GREAT FILET. WE HAVE TO CHECK THIS OUT. LOOK AT THAT. GREG: I LOVE SMOKED SALMON. DANIELLE: I PULLED THE SKIN RIGHT OFF. LOOK AT THIS TENDER, FLAKY, JUICY. THAT IS SPECTACULAR. OF COURSE, I AM GOING TO SHARE. LOOK AT THAT. GORGEOUS TEXTURE. BEAUTIFUL FLAVOR. A LOT OF SMOKE ESSENCE. AMAZING. GREG: I LOVE IT. LET'S MOVE ON TO THE NEXT ONE. WE SET THIS UP AT ABOUT 225 DEGREES AND NOW WE ARE BARBECUING. LET'S SEE WHAT WE GOT IN HERE. PRIME RIB ROAST. DANIELLE: LOOK AT THIS. 225 DEGREES. NOTHING BURNT. DEEP MAHOGANY FLAVOR. GORGEOUS COLOR. LET'S SEE WHAT WE GOT. GREG: PRIME RIB IS ONE OF MY FAVORITE THINGS. I LOVE THE CRUST YOU CAN GET ON HERE. THAT IS A RESULT OF THE CONVECTION FAN. GETTING THE CRISPY CRUST OUT. YOU CAN SEE TENDER, JUICY FLAVOR IN EVERY BITE. THE PRIME RIB IS SO EASY. THIS TOOK US, WHAT, SIX HOURS? WE PUT THESE ON THE GRILL, THEN LEFT AND CAME BACK. WE DID NOT HAVE TO BABYSIT IT DURING THAT TIME. WE HAVE PROFESSIONAL, RESTAURANT QUALITY RESULTS. DANIELLE: I'VE GOT TO POINT THIS OUT. LOOK AT THIS GORGEOUS SMOKE RING ALL THE WAY AROUND ON THE OUTSIDE. THAT IS INDICATIVE OF BEAUTIFUL SLOW SMOKING. THAT IS SUCH A KEY INDICATOR FOR ANYBODY WHO BARBECUES. GREG: THIS IS SO GOOD. WE SMOKED, WE BARBECUED. NOW WE ARE GOING TO MOVE ON TO THE NEXT THING. THIS IS SOMETHING THAT A LOT OF PEOPLE DON'T THINK ABOUT DOING, ESPECIALLY ON THEIR GRILL AT HOME. BAKING. THIS HAS A CONVECTION FAN INSIDE. LOOK AT THIS. THIS IS MY FAVORITE. HOMEMADE PEACH COBBLER DONE IN THE SMOKER GRILL. AND WE GOT BANANA BREAD, BLUEBERRY MUFFINS. I LOVE DOING MACARONI AND CHEESE. I LOVE DOING MY BAKED BEANS IN THERE. DANIELLE: LOOK AT THAT. TENDER. GREG: SUNDAY MORNING MUFFINS ON YOUR TRAEGER. LET'S GO. THIS ONE WE ARE GOING TO GO AHEAD AND ROAST. 425 DEGREES. A WHOLE CHICKEN. IF YOU HAVE EVER COOKED A WHOLE CHICKEN ON YOUR GRILL, YOU HAVE PROBABLY DRIED IT OUT. IT PROBABLY DIDN'T TURN OUT WELL. TRAEGER IS BUILT FOR THIS. HERE IS OUR BEER CAN CHICKEN. DANIELLE: EVERYBODY LOVES BEER CAN CHICKEN. CORY: AVRIL HAS APPOINTED CATHERINE ADAMS TO THE GENERAL CONSOLE. ADAMS WAS PREVIOUSLY AT HONEYWELL. WHEN CASE SHE WILL TAKE ON IS A CLASH OF A $15 BILLION TAX BILL. THE BIG BATTLE WITH QUALCOMM. THERE HAVE BEEN SOCIAL MEDIA POSTINGS ABOUT PROBLEMS WITH THE IPHONE 8. BATTERY EXPANDING AND CRACKED CASES. FOR MORE, LET US GO TO MARKET IN LOS ANGELES WHO COVERS ALL THINGS APPLE FOR BLOOMBERG TECH. THIS BRINGS BACK SO MANY MEMORIES OF IPHONES WHERE THERE WAS A LOT OF UPROAR WITH THE FIRST IPHONE. I AM THINKING BACK TO THE IPHONE 4 OR 3 MAYBE THAT HAD AN ANTENNA THAT WRAPPED AROUND THE PHONE. IF YOU TOUCHED A KEY TO IT FOR CERTAIN WAY THAT IT WOULDN'T WORK. > > THAT IS RIGHT. THAT WAS WITH THE IPHONE 4. THEY HAD THE ANTENNA GATE BACK IN 2010. STEVE JOBS, THE CEO AT THE TIME HAD TO END UP HAVING A PRESS CONFERENCE WHERE THEY DECIDED TO GET OUT THE CASES ARE EVERYONE WITH THE IPHONE OR. THERE WERE THE PENDING ISSUES OF THE IPHONE 6 PLUS IN 2014 AND 2015. I THINK A LOT OF PEOPLE ARE ANXIOUS ABOUT THIS SUPPOSEDLY BATTERY EXPANSION ISSUE WITH THE IPHONE 8 BECAUSE EVERYONE SOLID HAPPEN WITH SAMSUNG AND THEIR -- SAW WHAT HAPPENS WITH SAMSUNG AND ARE EXPLODING BATTERIES. I DO NOT THINK THIS IS A BIG DEAL. I THINK THIS IS ONE THAT WILL BLOW OVER IN A FIELD DAYS AND IS NOT LIKE -- IN A FEW DAYS. IT IS NOT LIKE THESE THINGS ARE EXPLODING. CORY: YOU THINK IT WILL BLOW OVER? YOUR METAPHOR. NOT BLOW UP? MARK: I DIDN'T EVEN THINK OF THIS. I DO NOT THINK IT WILL BLOW UP. IF I AM WRONG I WILL SURE I WILL CORY: BE ON AIR TALKING ABOUT IT. NO KIDDING. IT HIGHLIGHTS THIS NOTION OF THE ISSUE WITH THE BATTERIES IS EXTRAORDINARILY DIFFICULT AND THE MATERIALS ARE EXTRAORDINARILY VOLATILE. THERE HAVE BEEN ISSUES WITH HEAT IN PARTICULAR WITH APPLE PRODUCTS OR APPLE LAPTOPS GOING BACK MANY YEARS. IT WAS A SERIOUS ISSUE FOR APPLE AND MAYBE HURT SALES OF ONE WHOLE ROUND OF MACBOOKS. MARK: BATTERIES WHEN COMPONENT APPLE DOES NOT HAVE MUCH CONTROL OVER. THEY'RE ABLE TO CUSTOMIZE THE PARTS THAT YOU SEE THERE INCREASINGLY GOING IN-HOUSE FOR OTHER COMPONENTS, LIKE THE PROCESSORS, SCREENS, CAMERAS, THE BATTERY IS THE COMMODITY COMPONENT THAT MAKES UP MOST OF THE VOLUME AND SAID THE PHONE AND IT REALLY IS AN OTHER PEOPLE'S HANDS TO TEST THE BATTERIES INTO THE CHEMISTRY THAT GOES INTO THE CREATION OF THE BATTERIES GREAT THERE HAS BEEN A LOT OF TALK OF HIS APPLE WILL BUY TESLA. ONE PERSON -- ONE THING I HAVE BEEN THINKING ABOUT IS TESLA HAS A LOT OF BATTERY EXPERIENCE. SORRY TO GET OFF COURSE BUT THAT CAN BRING A LOT OF IN-HOUSE EXPERIENCE APPLE WERE TO DO A DEAL WITH SOMEONE THAT COULD BRING MORE BATTERY IN-HOUSE. CORY: ANOTHER QUESTION FOR ME IS WHERE THESE REPORTS COMING FROM. THERE IS SO MUCH "GARBAGE" REPORTING ON APPLE PRODUCTS BEFORE AND AFTER THEY COME OUT. ARE THESE SURFACE PLACES WE BELIEVE? THIS SOCIAL MEDIA GIVE US HINTS THAT THIS MIGHT BE TRUE? MARK: THERE ARE VERY FEW TWEETS AND POSTS ON THE CHINESE EQUIVALENT OF FACEBOOK AND TWITTER. I HAVE NOT SEEN ANYTHING THAT HAS LET THIS SPIRAL OUT OF CONTROL. THE THING WITH ANTENNA GATE IS ANYONE WHO HAD A IPHONE 4 -- AND IPHONE 4, -- AN IPHONE 4, THAT IS NEARLY 2 MILLION PEOPLE. BUT THE SAMSUNG BATTERY EXPLODING, THAT WAS A TANGIBLE ISSUE TOO. YOU SOLVE VIDEO AND PICTURES OF PEOPLE HOLDING UP AN EXPLODING PHONE, PEOPLE WITH BIRD SITUATIONS, LOTS OF LOCAL MEDIA REPORTS. WE HAVEN'T SEEN ANYTHING WIDESPREAD ARE ALL OVER THE PLACE WITH THIS IPHONE ISSUE WHICH LEADS ME TO BELIEVE THAT IT WILL BLOW OVER. IN TERMS OF APPLE'S COMMENTS, THEY DON'T SEEM TOO CONCERNED EITHER. THEY HAVE NOT FOUND A PROBLEM OR RECOGNIZED AN ISSUE. MAYBE DOWN THE ROAD THEY WILL ISSUE A SMALL REPLACEMENT PROGRAM FOR SOME OF THE IPHONES THAT THEY MIGHT HAVE FOUND BATTERY ISSUES WITH. I'M SURE THEY ARE INVESTIGATING IT. I THINK IF IT CONTINUES TO ESCALATE, WE WILL SEE MORE FROM THEM. CORY: LET US HOPE NO ONE GETS HURT AND I HOPE YOU DON'T GET HURT EITHER. MARK: I HOPE YOU DON'T GET HURT. CORY: THAT IS SO SWEET. THAT DOES IT FOR THIS EDITION. NEXT WEEK, WE WILL BE BROADCASTING LIVE IN SEATTLE. STARBUCKS KEVIN JOHNSON AND THE CEO OF AMAZON WEB SERVICES LOBBY HERE. THIS IS BLOOMBERG. ♪

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