and the people of this great city, we are with you. we love you. we will get through this together. thank you. >> just a few updates this morning. the crew out there repairing potholes. it had nothing to do with a structural issue. one person has been rescued so far. we are can to new efforts in terms of that. engineers are on site now determining the structural issues. you can see the debris field. we are working on that with the ntsb before we take further actions in that area. i wanted to introduce the fbi for comments as well. >> hello.

i'm the special agent in charge of the baltimore field office. first and foremost, i want to say our hearts go out to everyone impacted by this tragedy. especially the victims and their families. on behalf of the fbi i would like to say we are with you. we are with baltimore and with our partners every step of the way. the fbi when first looking at and assessing this matter from an investigative standpoint -- i wanted to be clear there is no specific or credible information to suggest that our ties to terrorism in this incident. the fbi has been part of the response in the beginning. we came within one hour to the command post and quickly latched

up with are very strong partners all along the way . we will bring whatever resources the fbi has to bear. we have already brought our crisis response, our victim services, and recently are underwater search evidence recovery teams are on-site. we will continue to provide those resources as long as it takes. as the investigation goes on we will take it to its logical conclusion along with our partners. to the people of baltimore, to the public, be patient as we go through this and as information becomes available to us. i want to say thank you to our partners. thank you to everyone in the fbi. we will always bring -- to the

people of baltimore and we are with you. i would like to achieve the coast guard. -- introduce the coast guard. >> good morning. the coast guard is actively searching at this time using response boat crews from two local coast guard stations. whenever hilo crews from an air station atlanta city and one of our cutter crews on one of her 87 foot patrol boats. we will continue to work with local, state, and federal partners during this tragedy. thank you. >> we are going to start from the side. >> as far as was the collapse of the bridge inevitable? >> we are still the process of investigating exactly what happened. we don't have any further details about whether or not it was inevitable or not. the bridge was actually fully up

to code. we have no further information about what happens during that time. . >> has shipping in and out of the port stopped? how long will it be before shipping can resume? >> we don't have any estimates on timeline. our exclusive focus is on saving lives. our exclusive focus is on search and rescue. >> can you give us [indiscernible] earlier from baltimore we heard -- can you tell us the total numbers we are talking about? katie: we have been listening to a rest conference about the francis got key bridge collapsed. -- francis got key bridge for left. he heard the maryland governor say the exclusive focus now is on search-and-rescue. brand -- brendan: he also said

that all signs at this point would suggest an accident. there is no evidence of any kind of terrorism activity. however, obviously there will be many investigations in the hours and days to come. katie: we heard that from an fbi officer from the baltimore field office. there is no specific or credible information to suggest there are ties to terrorism. talk to us about the response from the administration. we heard from senator chris van hollen sankey spoke with transportation secretary pete buttigieg and the biden administration will work to release emergency funds in the case. brendan: that's exactly right. there's a very expensive cleanup coming. they will have to figure out what to do to rebuild the bridge potentially. a project that could take a very long time. the administration says it will find the funds.

that is all going to be something that will be sorted out in the weeks to come. in the shorter-term when they finished search and rescue operations there will be a series of adjustments to do a workaround in terms of commuters and trucks that use the bridge intensively each day. just kind of in the early stages here but the administration is definitely going to find the funds and the support it needs to come up with. katie: brendan case, thank you so much. we continue to follow developments after the francis got key bridge in baltimore collapsed this morning after being struck by a ship. that happened about 1:30 a.m. coming up, the cfo of ford john lawler. don't go anywhere.

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thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh

-item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh katie: we learned at the top of the hour that consumer confidence data came in below estimates. u.s. march consumer confidence came in at 104.7. the estimate was for 107 on the dot. not seeing too much reaction in the market rate. you look at the s&p 500 currently higher by about .3%. not much reaction either way. let's broaden out. in other news, for different its full year operating guidance for 2024. the motor giants still sees adjusted earnings of $10 billion to $12 billion adjusted for cash flow between $6 billion to $7 billion, the same forecast

provided in early february. for more on the company's future plans for the eb market we are joined by john lawler, ford's chief financial officer. great to see when person. john: nice to see you as well. katie: the situation unfolding in baltimore right now, that is after the collapse of the key bridge early this morning. that is the largest u.s. port for handling cars and light trucks. my understanding is ford makes most of its vehicles in north america. does ford import any cars or components through the port of baltimore? john: first in performance our thoughts are with those impacted in the city of baltimore. it's too early to tell exec you what the impact will be on the business. through covid we have had experience in managing supply chain disruptions. we will have to work that and find the best solution for those parts that will be impacted. katie: that was my next question. it is very early and this is a rapidly changing situation.

do you have a sense about what impact this could have on the supply chain? john: of course it is a large porch with a lot of flow through it. it will have an impact. at this point we will have to understand what that means for us specifically. we will work on the workarounds. we have to divert parts to other ports along the east coast or elsewhere in the country. it will probably lengthen the supply chain a bit. we will continue to work that. i would say we have experience now in understanding supply chain disruptions. we will just put that experience to work and figure out the best solution. katie: i appreciate that color on a developing situation. let's switch gears and talk about electric vehicles. i'm sure you spend most of your days talking about ev demand. it has not grown to the magnitude mean expected. ford has dialed back some ev investments. at what point might ford revisit the ev strategy and the investment schedule?

john: i think it's a matter of not if but when. dvds are growing. they are growing at a quick rate. just not as fast as the industry anticipated. we are adjusting appropriately to that. we are adjusting our capacity to meet demand. we have seen significant price reductions. we are working on business fundamentals to improve those as well. the important thing is ev's are coming and they will be part of the transition. the other thing i think is very important for consumers is to understand hybrids and plug-in hybrids are also a solution we offer. we see ourselves as the company of choice. we offer gas vehicles, diesel vehicles, hybrids, plug-in hybrids, and peer ev's. we think we have a pretty good read on where it's headed and we are adjusting appropriately. katie: i want to get to hybrids because i see more of them on the road. seems like people are going to that alternative. let's talk about cost. anecdotally it feels like most people say ev's cost more.

we are in a high inflation asian -- high inflation period right now. you are developing a $25,000 compact ev. can you share more about that? john: for about two years we realized the market, where the suite -- sweet spot should be in a lower cost ev. we started our skunk works designers out in california designing a low-cost platform for us so we can hit what we see as the key market -- consumer market freebies. -- for ev's. that will be an affordable low-cost solution for consumers. i think is vehicles like that, in the market you will start to see that demand increase and then the scaling of the ev's increase across the industry. katie: we are talking about ev's in the context of the consumer

market. let's talk about the commercial market. it feels like this drop off in ev demand or less growth than expected has really been specific to the consumer market. why do you think there is more resilient and more sustainable demand when it comes to commercial vehicles? john: when you look at commercial customers, they needed for their entire fleet compliance. number two, they have the ability to really understand the total cost of ownership for the ev's. it is a lower cost solution. they have been taking a much more thoughtful approach. they have been buying small numbers of vehicles, testing them out in their fleet. understanding the cost of ownership. understanding where they can save money and it is a better cost for their fleet and they are moving forward. we are seeing more traction in the commercial space. especially with our trans electric fan. katie: i'm curious how the

charging infrastructure differs for commercial vehicles versus passenger vehicles. when you think about buses in the city they all sleep in the same place. you can have a charger there. i'm curious how you are thinking about that. john: that is one of the key things with the ford pro-business, the commercial vehicle business. we offer charging solutions. not only the hardware and setting of the charger in the depots but also the software to manage the fleet as well. it's a real opportunity for us to provide an end-to-end solution. the vehicle, the software, the charging solutions for commercial customers. katie: we have to talk about the competitive landscape on a global scale. one of ford's top executives described chinese ev's as a colossal strategic threat. how are you combating that? what is ford's plan? john: it is a significant threat. his affordability. they have a low cost structure. that is where the small ev comes

in, as well as the skunk group that is working on that low-cost very advanced architecture for ev's where we think we will be able to compete with the chinese and other low-cost manufacturers. katie: it will definitely be interesting to follow developments. let's get back to hybrids. i'm super interested in this space. morgan stanley's adam jonas had an note this month that he sees the hybrid renaissance . it was really a direct competitor for the incremental ev buyer. do you see that within your own lineup? pc hybrids taking share from ev's? john: we see hybrids as a duty cycle alternative for customers. electric vehicles does not work for some and those that don't want just pure gas vehicles or diesel vehicles, they can go for a hybrid. that is why we have continued to invest in hybrids and offer hybrids. it is a bridge the full electric.

we think it is something consumers are really leaning into because of all of those factors i cited. katie: do you have plans to roll out more hybrids? john: yes. we are launching a new escape hybrid. we have the number one selling truck hybrid in the maverick and the number two selling truck hybrid in the ford f-150. number three in the u.s. in hybrids and we continue to plan and we continue to plan on offering more solutions to customers. katie: i do also want to talk about the relationship with the uaw. jim farley said the company's once strong relationship with the uaw was hurt by the strike. with that in mind what is ford doing to repair the relationship? john: it's about understanding both of us had similar goals, making ford motor company as strong as we can be. providing the most jobs it can provide in producing cars and suvs for our customers. we are working with them, collaborating with them.

over time things will improve. we are seeing that. they have been strong partners and we will work with them. katie: an ongoing conversation and relationship. i'm aware of talking about the chief financial officer. i want to talk about your recent return to investment grade. the credit rating. layer that on top of higher labor costs and the deeper ev losses. how are you protecting the ig rate? john: we have three or four strong businesses. ford blue, our gas and diesel business. we have the ev business. and ford pro, our commercial business and ford credit, our bank. ford blue and ford pro, operability, business, great cash flow. ev is experiencing losses but we know we need to bring that business to stand on its own and be profitable and we are working

towards that. competitive advantage for us is the bank will refinance our consumers and we have incredible customer loyalty there. katie: good place to leave it. really appreciate your time this money. that is john lawler, chief financial officer afford. let's -- of ford. let's turned to the market with mark connors. we have a whole lot of event risk out-of-the-way. talking about the federal reserve and it's basically a very quiet period for earnings. what are the next catalysts for the equity market at this juncture? >> i like your optimism about the lack of events as far as that's concerned. thank you for having me on again. i want to go back to what mr. lawler was talking about with ford. he brought up commercial. the reason we think of ford and

the f-150. car buyers now, there has to be a rationale. you have to have cash flow. the second thing he said was cost. we are a low-cost provider. margins are under assault. when we prepped for this call today i did the classic looking at the tax names, the magnificent seven. microsoft, apple and nvidia to start. compared that to walmart, citibank, exxon. when you look at who is performing it is folks with free cash flow. the reason we will end up playing on news is reddit. i think people should read the s-1 about how they are making

money. how it's an ai play in the company has been together for 20 years. it is not just a fly-by-night. the event is the slow-moving ai train has barely left the station. katie: specific to reddit, interesting to hear called an ai play. they have big ambitions for the data licenses, selling dated to train ai models. it feels like reddit is an advertising. when it comes to the social media stocks, the companies that rely on advertising dollars, i feel like that's a big question mark. mark: even the big folks, when you look at what google is trying to do or what chatgpt has already done, all firms are figured how to import. ai is not the killer app. it is the killer fuel. it has to be managed by firms to bring in yields.

back to reddit, reddit has a curated and stratified cadre of users. i think that will be very relevant to large linkage models. they can then toggle about the importance based on the duration on the platform and how long they spend each day and reddit captures that. we are not here to pump reddit. i think what they are doing is untapped but they have the right model. katie: interesting looking for your notes. you are clear the market top. i am a few people on social media make that joke. mark: we will find out in a couple of hours when gamestop announces if the wall street bets boys and girls are pounding. yesterday's news as far as

gamestop. we are still fed related. you cannot get over the fact that almost five or six weeks ago jay powell was on 60 minutes calling bloomberg tiktok. he was there counting the tables. i'm doing my job but treasury is deficit spending and making my job managing unemployment, inflation, and treasury functioning very difficult. i think we are not out of the woods there. this is one year since the banks blew up in march. we have some bumps along the way as far as rates for the banks and the economy are concerned. katie: maybe there are still some shoes to drop when it comes to some of those regional banks, the lenders there. i want to talk about energy. you highlight that in your note . we are talking about tech, meme stocks, energy feels like it has a much different vibe.

when it comes to that sector how are you thinking about it? mark: energy -- if you look accrued -- let's compare energy to banks. thanks monetize interest rates. the old yarn was there was 360 operation. they lend at 6:00 in the afternoon. that model is done. in energy the feeder stock is obviously commodities. we are in a commodity renaissance. we think similar to the 1970's, the digital asset manager >> digital assets. -- we think it's the fuel for the next generation of protocols and platforms. exxon mobil has free cash flow that mimics that of a tech company. they use technology and they have come up the curve and they have -- they are on the right side of this next constraint

supply constrained supply chain environment that has become all too reminding this morning with the news from baltimore. katie: i don't have a ton of time left with you but you said something interesting. bitcoin. you are lumping in as a commodity. are you thinking of bitcoin as a commodity? mark: back to the start of the story, who is winning? firms that are able to have produce more with less and technology has done that. bitcoin, we look at as a cash flow per token similar to microsoft and meta. cash flow and the systems. etherium has more revenue. those animals are out there. they are not yet discovered. diamond in the rough.

still to be discovered. yes, we deem it to be a commodity. katie: always great to speak with you. our thanks to mark connors. it is time for social climbers. a look at the stocks making waves on social media. first up, talk about a sugar rush. mcdonald's announcing its planning to sell krispy kreme doughnuts at its restaurants by the end of 2026. customers will be able to order individual doughnuts or impacts of six. the donuts will be sold all day. next we have the we work redux. the offset founders to buy the baker -- bank of company for more than $500 million. we work, once valued at nearly $50 billion filed for bankruptcy last year. good news for mccormick. the first quarter profit and revenue beat estimates. mccormick says costs came down and higher prices offset slower volumes. you can follow the latest

company buzz on tren go on your bloomberg terminal. a new semi private jet service is facing growing regulatory scrutinies. details not from alex wilcox, the ceo of jsx. this is bloomberg. er easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours.

katie: boeing still a focus after playmaker announced dave calhoun will step down at the end of this year. the company boarded been struggling to get a handle on it spiraling to discuss, she is morgan stanley's director. with a $235 price target. just to set the scene. what was the response of the shakeup yesterday? >> with what happened in january

investors are been checking -- so yesterday we saw this react slightly positive to the change and ultimately this is welcomed by the market because they're not able to deliver conforming aircraft. the question is has that changed. >> one of the big questions is who's going to be the next ceo. in your view who is the ideal candidate here. internal or external? >> when you look at the internal management we have been seeing one particular person getting promoted to different positions. we see stephanie pope become president and ceo of the services business and now being the head of the bca if you were to look at whose being recruited here as a successor it seems that her profile would match with the internal rate of

promotion. industry experts in the market are looking for potential external candidates. they've been struggling for many years. since the crashes of the 737 max is it time for a change for external candidates. it's not like you have very many folks available with experience needed. you need a company like boeing. them having the duration where the ceo change doesn't happen by sometime to look at internal and external candidates. katie: we are talking about a small pool here for a very tough job. it's interesting the way this went down. according to bloomberg news reporting the shakeup came after united, southwestern american which are three of the largest u.s. customers pressure -- pressed boeing directors for a

without calhoun present. in your view, how difficult will it be for boeing to win back really the hearts and confidence of some of these major airlines? >> it's can it take some time when you look at airplanes flying at 85% the speed of sound , every little part matters. with the failures for some faa inspections, boeing has some work to do and also when you look at production rates they seem to be in the high 20's per month and boeing's financial target of $10 billion is dead -- predicated in the 737. that's a pretty tall order. it's a balance between quality and quantity and ultimately there's a shortage of airplanes and demand is strong. at the same time you have to bet on the quantity with quality so

it's hard to please everyone when you are struggling with execution and having aircraft is a big differentiator where capacity is desired. >> let's talk about what this means for the stock price. boeing shares popped yesterday. they are down again today and they are down 27% year-to-date in 2024 just a total wipeout. do you think the worst is over for boeing stock or is there more to come. >> i think there is more to come. if you look at the bear scenario. it's about $130 per share. i think it's underestimated by the market. ultimately the faa is taking a harder stance on looking at their long performing manufacturing and if you look at deliveries in january and february. it's been slowing to a trickle which means if boeing is producing at a higher level than

what they are delivering you will have a cascading amount of inventory aircraft piling up at renton and that means you have a lot of working capital tied up for aircraft you can deliver. that could hurt their ability to ramp up later. when you look at the effect of this if the duration of a stricter view stretches for even longer that could be more painful for boeing and if we see a potential risk or 30% cut in deliveries in 2024 cascading into 25 and 26 we can see a valuation of $130 for boeing. katie: many have framed their struggles as a positive for airbus. you and i were speaking about how it is a duopoly between boeing and airbus. talk about embry air. who could pierce that and be a

serious competitor. could there be an alternative? >> you hit it right on. building aircraft is really difficult and entire nation-states states poor in their industrial resources in the industry and many have not been successful. embry air based out of brazil has done it. it actually competes with the 737 max seven and the v3 19 family. if you look at a potential third player there really with the certified commercial jet. with this environment where demand exceeds supply and boeing is unable to deliver the airplanes they want to deliver and by the way airbus also is not able to deliver all the aircraft they want. there's only really one aircraft manufacturer you can order from and they have available slots in 2027. and does it make sense for them

to only have a $5 billion market cap considering how difficult this industry is and what we've learned from boeing is producing airplanes is hard. >> great perspective of course on their struggle and also the industry at large. hope to speak to you again soon. let's stay in the clouds because a new dallas-based startup is out to disrupt the industry way offering semiprivate charter planes at near business-class prices. i am thrilled to say we have alex joining us, the ceo of js x. it is a hop on jet service that serves 48 routes across the u.s. and mexico. it is great to talk with you because it almost sounds too good to be true. you can hop on a 30 seat jet in morristown, new jersey or in westchester and get down to miami. your flights start at hundred dollars each. you take a look at some

competitors they are charging thousands for that same service. how does js x make money? >> i appreciate the lead in. we make money because we have more than a couple people on board with one or two customers on board like a private jet we would be losing our shirts. we fly the 145. the configuration it's on like what you see on the network carriers. there's bright lights, we're the launch customer for starlink as well. we're the first and so-called -- so far only one that has starlink on board every day. that is faster than our own services through cable or fios. as you can see on the video there's 30 seats in every plane, it's a very spacious 30 seats. there's a cocktail table between you and the customer across the

aisle from you. there's room for dogs. we welcome dogs on board. small dogs that fit under the seat are free of charge like our competitors and large dogs you can buy a seat for. there's plenty of space. katie: i have to imagine no middle seat is popular. to your point you have more than just a couple of people on the plane which certainly helps when it comes to making money but how thin are the margins? i'm asking for the casual viewer sitting at home saying it's got to be expensive to fly even a 30 seat aircraft. >> we've been flying for 10 years. covid took a chunk out of the business. we are very proud of our financial success as well as her popularity with customers. which is the highest rated in north america if not the world. there frequently 70's and 80's in an industry that gets 20% and

in some cases negative score. so the financial results are there but they only exist because our customers love us and keep coming back to us. we provide a super seamless experience you can show 30 minutes before the flight. casual viewers who haven't tried you can get tickets at js x.com. we are growing very rapidly and attract a lot of attention to our customers in particular for the unique service we provide but we are proud to do. all the people who work with me every day have customer service at the core of our focus. that's really what differentiates us in the industry. >> of course that rapid growth obviously your competitors are not thrilled and some of pinpointed your safety standards. some have said it should be required to be post 9/11 safety protocols such as scanning ids, limiting liquids removing shoes during screenings.

have you seen just received information on any proposed security changes to these public charter carriers? >> we are in touch every day with ntsb, tsa and the dot. there are regulators we are in close touch with on a regular basis and not once has anyone come in from those agencies told me directly they have a concern about any practice. we are way above and beyond compliant in terms of our security practices. a lot of the reasons the industry is so safe is because of safety programs we voluntarily adopted whether it safety management system, these are all things that are big contributors to commercial aviation safety. the category in which we fly, zero fatalities in 45 years. what we fly, most hesitate to say it is a must 30 million

hours across the airframe. again zero fatalities. we've an unblemished 10 year operating history. we are proud of our compliance record with our operating history. anyone who challenges it is not challenging with us of the regulators but trying to put in uncertainty for customers because they're afraid of comparative threat that we represent. >> let's talk a little bit more about that growth because i was looking at it you are up from six routes in 2016 to 48 routes today. you were flying 641 flights in 2016 and now you are at 30,000 flights. are you planning to more routes from here. what goes into that? >> you need airplanes to fly. we have 48 aircraft which is the right hand column we see on the

screen that are currently in service. we are acquiring some more as we speak. we've got several years of growth ahead of us. and every airplane is going to fly roughly four or five flights a day. so low are utilization, we own these airplanes out right and don't have to pay on them. our balance sheet is very strong. as well. we fly when the market wants us to fly. in terms of future growth, we will do more than that this year. and as we had additional airplanes in the coming years everyone of those will have several hundred flights a month in additional capacity. the sky is the limit for us no pun intended. pliny of airplanes for us to acquire about and put into service we don't have the same supply constraints.

we have an open road in front of us. katie: only have about 30 seconds left with you. would you consider an ipo in the near future? >> depends on what you mean by near. i wouldn't rule anything out. certainly this category this kind of company will have that quality ratings. i'm talking about real ipo when the time comes. katie: really appreciate your time today. our thanks to alex wilcox during apple is being accused of violating antitrust rules. we will be joined by the brookings institution's visiting fellow. this is bloomberg. ♪

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katie: time for our wall street we daily segment and we are taking a deep dive into the antitrust lawsuit against apple. i'm pleased to say we have the brookings institution visiting fellow as well as wall street we coast david westin. this is all about the walled garden. david: this is your old shop and the department of justice is not the first time someone has gone after apple. why is this one different? bill: what the complaint says is this ecosystem that apple has set up and claims it's all about consumer privacy, consumer security is in fact a mechanism

to lock us into iphones. i am an iphone user. i love the product but they've basically manipulated the ecosystem to make it very hard for anybody to communicate off of an android system they are engaged in a series of actions that profit the company, but serve no useful purpose to consumers. they are trying to limit competition the government says in order to maintain their dominant position in the u.s. market which is somewhere between 60% and 70%. katie: which market are we talking about here when it comes to the doj allegations and how strong is their claim here? bill: i know apple has suggested to worldwide mark but that's not how antitrust analysis works. it is who are the consumers that are potentially affected subject

to prices increases and diminished innovation, diminished product quality. that group of people of the u.s. consumer. apple's bid to turn this into a worldwide market which diminishes the market share i think ultimately is going to fail. but the government is going to have to show that these limitations apple puts on the use of its product are actually designed to improve product quality and not intend it simply to maintain or enhance its dominant position. one of the challenges they face is documents cited in the doj complaint which suggests the motive here is to limit competition and not to protect and benefit consumers, i was in private practice for many years

and it worked with companies that wanted to tell a public story about how everything they were doing was worthwhile and consumer-oriented. but you go through the company documents and sometimes that's not at all what they are saying to each other inside. david: i never had a case where there wasn't a bad document or two. but let's assume boeing prevails in this and proves there's -- what is the likely remedies? is again a tear down the walled garden? bill: i think it will open up the walled garden. the government hasn't indicated exactly what they want and that's the wise thing to do. you've to see with the court says is the problem. but i suspect that limiting its ability to for example degrade the quality of messages that come in on an android phone

preventing apple from basically only allowing the apple watch to sit -- sync with your iphone, those sorts of restrictions which are arguably not justified a court could say you have to give it up. one of the interesting issues at play in this case is over in europe there was an effect in the last couple of weeks called the direct markets act. that law is requiring apple to do some things in europe in terms of opening up that says it just can't do. so we will have a track record to see whether apple's claims that its whole ecosystem will collapsed and consumers will be injured by what's going on in europe. there are complaints from the european commission about whether apple has been good faith compliance that will sort itself out so we may have a test

case that a court could look at to see whether apple's claims that it can do things differently in fact hold up scrutiny. katie: it is interesting you have these two parallel allegations happening at the same time. it sounds like potentially the eu case may provide some sort of blueprint perhaps for what's going on at home. bill: that's exactly how i see it. it's going to take two or three years to get this case to trial first some sense of whether doj's allegations hold up or not. in the meantime apple which is saying we cannot do would doj says we need to do is going to be having to do those very things in order to comply with the law in brussels. the european union laws. we have a sense of what works and what doesn't. >> that gets us into the second

term of joe biden or donald trump. does this case survive a second term donald trump? bill: you never know. given the concerns about what a second term of donald trump will look like, it is hard to make a prediction. one of the interesting things is this investigation began in the trump justice department. indeed, two weeks ago the former attorney general bill barr wrote an op-ed writing but how they started the investigation and claiming credit for the case that was about to be brought even though four years later he had no idea what was can it be in that case. so there is some reason to believe that there is bipartisan concern with the dominance of big tech. it's not just apple, it's amazon, google, facebook. it is others.

i'm not in a predict but it's not 100% clear to me that this case would go away. david: why work? nothing against them but i wouldn't think that case would be filed in newark? bill: the united has a really good lounge. that's one possible theory. in the third circuit which includes the district court in newark, the government and plaintiffs have prevailed in these cases which are difficult to prove in unlawful efforts to maintain a monopoly. and so the case law there is more extensive and more favorable than anywhere else in the country. i don't know that's why they chose it. , but my hypothesis is that the favorable case law may have led them to initiate the lawsuit there.

>> really appreciate your time today. our thanks to bill baer. david: coming up on friday we have geopolitics the head of business roundtable talking about biden and trump when it comes to economics and then we will have from the financial times talking about how investors should discount the geopolitical risk at six clock p.m. eastern time on wall street week. >> we want to keep you updated on today's big story, six workers are still missing after the francis scott key bridge collapsed early this morning after was hit by a container ship. search and rescue operations are still ongoing. at a news conference police said there were no signs of terrorism. mirsky is warning of baltimore bound cargo delays as it reroutes around the port. we will bring you the latest details as we get them. coming up, marissa mayer,

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>> from the heart of her innovation, money and power collide, this is bloomberg technology with caroline hyde and ed ludlow. ed: i'm ed ludlow in san francisco. this is bloomberg technology. from ai to antitrust and geopolitics get the full read on the tech sector with debbie fisch of janus henderson. we hone in on s