weekend trip to manila. the u.n. unanimously approved new sanctions on north korea over the nuclear and ballistic missile program. pyongyang has ruled out talks and says the u.s. will pay dearly. guidantagon has set new on to the armed services drones. the policy was approved in july. additional public information is being sent so officials can alert communities. chicago has sued attorney general jeff sessions over his threats to withhold federal funding from sanctuary city. the city says the d.o.j. has no authority to impose sweeping conditions on chicago and other cities that do not assist the crackdown on undocumented immigrants. is york mayor bill de blasio promoting attacks on the wealthy. it would impact about 35,000

people. he says the move will raise about $800 million a year. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i am alisa parenti. this is bloomberg. ♪ emily: i am emily chang and this is "bloomberg technology." my see of the sun devils down on his quest for u.s. consolidation . an offer for charter hanging in the balance. we will weigh all the options. the memo nobody missed from google. an engineer's manifesto has gone viral. the backlash that hit resets on

silicon valley's diversity problems. netflix rolls the dice on its first acquisition ever. we will break down the back on the bet on -- superheroes. softbank is back in the spotlight with earnings that helped softbank beat estimates. good news for softbank's chairman and c.e.o. masa -- masayoshi son. the billionaire is in the process of creating the $1 billion visions fund. the fund was included in the results for the first time. he says he considered various deal options. joining us to explore all of the options in new york is cory johnson and our guest host for bob o'donnell, president of technalysis research.

how do you see the story softbank is trying to tell us the global dealmaker playing out? >> i think that is exactly what we are seeing masayoshi son do. he has talked about this for years. i worked for a company he bought about 25 years ago. it was a small high-tech music magazine. watching him over the years and seeing this vision evolve, he is driving himself to be the tech version of warren buffett internet interesting way. conglomerateg this of component companies he sees as being critically important to drive this vision into the future. i think it is a smart plan. not all of the bets will work but i think he is placing them in good places. emily: is eating warren buffett of asia --is he the warren buffett of asia? what do you make of that? buffett gross

things without debt. this is the opposite. this is taking out enormous debt with tremendous risk on the debt. thistors have looked at and thought he was near the edge of bankruptcy over and over again. these are big swings for the fences. anything but low valuation. he is using a lot of debt to do it. he is trying very much to use politics as he used connections to make these deals happen. think of the image of masayoshi son in the trump tower visiting president-elect trump talking about the jobs he will create with his investment fund that he had already announced. at the same time, he is still thinking about the t-mobile merger the obama administration said not -- would not be good for u.s. consumers.

he may have been thinking his personal appeal would get the deal through. emily: respond. there is a lot of question about whether he can pull off the deals. it is very ambitious. >> it is very ambitious. i'm saying his goal is to be like warren buffett. [laughter] bob: this approach is not on value. it is on buying the core components. people do not think about the fact he owns arm, the semiconductor company that has a two minutes -- tremendous amount of influence. he has internet, robotics. he is buying a lot of technologies. debt is a big issue. i think he is being smart. he has what he calls his 300-year plan. even having a 30-year plan these days is a big deal. i think he is making bets based on that vision. emily: we have been talking

about a potential spread height -- sprint-t-mobile merger for years. how do you think this will play out? half of the u.s. mobilephone market is between two companies with virtually equal market share in at&t and verizon. that is what t-mobile and sprint are thinking about. when it comes to 5g, things will be very different in terms of who has the spectrum and who does not. maybe there is a chance to rewrite the market share pie chart in 5g. it is also worth noting the comments he had this week to say .e wants to be number one as u.s. consumers, we think about it in terms of how the government is looking at this. he wants to be number one.

he does not want u.s. consumers to have the best choices. he does not want u.s. businesses to have the most options for providers for wireless services that will go beyond making calls or getting data. we have to think about what the business changes will be if we have fewer competitors in the u.s. providing wireless service in a world of 5g when so many technology businesses will be based on the availability of 5g. if there are fewer competitors, prices will be higher. what will that mean for businesses and consumers and will be trump administration and seeut that something different from the obama administration saw? emily: this is a deal that could impact hundreds of millions of customers. bob: it absolutely could. clearly, he will need to get all of the pieces together. the charter peace as well as t-mobile and sprint to be a viable competitor to the other two. that is a big question if he can pull it off.

i think in the current administration, there will be less pressure. it may be those things are brought to the table. there clearly are going to be challenges to consumers and other governmental entities may say this is too big to make this happen. emily: this is the first time we saw impact from the vision fund still being raised. what did you see in the results in terms of anymore indication about how it will be spent? the: it is too early to see results of the fund under the umbrella of the larger softbank. we will start to see perhaps some fees. if you look at the history of sprint, you see a couple of bets that have paid off fantastically. some of the game companies in sand -- scandinavia, alibaba.

such great returns from those investments so you can see why he has stars in his eyes and wants to pull it off again whether money --with money from investors or sprint itself. emily: we will see what he has to say about the ride-hailing business. cory johnson, thanks so much. bob o'donnell, you are sticking with me. tesla is making its debut in the primary corporate bond market. elon musk bets on a more affordable electric car. he plans to sell bonds to support spending on the electric car. the sale will also bolster his balance sheet. tesla burned through $1.2 billion in cash in the second quarter. coming up, it a google pleayee's anti-diversity enrages the company. megan smith joins us next.

"bloomberg technology" is live streaming on twitter. this is bloomberg. ♪

emily: alibaba and marriott are teaming up to tackle the chinese tourism boom. they will set up a joint venture. marriott has 6000 hotels. china is now the world's largest source of outbound travelers who spent more than $1 billion in 2016 spurring changes across the global tourist industry. an internal battle over diversity at google has gone

public. it began when a male engineer sent out a memo arguing google has a politically correct culture that ignores differences between the sexes and there are biological reasons he argued for the underrepresentation of women in tech. the google diversity chief has weighed in saying he made incorrect assumptions about gender not endorsed by the company. the argument exposes women's belonged struggle to make advances in the tech industry. now from washington, former vice president of google and former u.s. chief technology officer and advisor to president obama, megan smith. great to have you with us on this day. when you read this, what was your reaction? >> it is so offensive to see what this young man was writing, but it is helpful to see it in public. many people working in silicon valley are experiencing this kind of micro-aggression culture coming from some of our younger

who have these points of view and think they are correct. they are incorrect. it is wonderful to see the reaction. one of the alumni of google wrote a piece counteracting every single one of his arguments. it is insidious. many people, women of all races, men of color, experience what i call death by a thousand paper cuts. it is personal. it comes at you. it is insidious and all around the culture. times it issonal at hard to understand what it is almost class-action if you can see the pattern. emily: you are an engineer. for anyone who believes there are biological reasons for the underrepresentation of women in engineering, please put this to rest. >> it is a lot of mythology.

vest ran a study with a lot of universities in the 1990's. when they showed all of the discrimination happening about who gets recorded in history, who gets promotions, who gets what kind of funding for research, he said i always thought it was part myth and part reality. he said i have learned it is almost all reality and we have to work to change this because we want all talent at play, especially in silicon valley with exciting tools and platforms and culture. the culture is wonderful. this is not unique to google. it is across all of the companies. it is rampant. we have to keep working on this through diversity work. teams at intel are doing a great job. apple, facebook, google has a lot of programs. we have to be more vigilant. we need to move the priority up

and directly address these challenges and help these engineers evolve. they are misguided. and they are destructive to their colleagues. it causes people to leave the industry. it is bad for shareholder value. we know that more diversity has so we want all of the people of the world in on making the products. thisn't want to write sexism and a jim -- ageism into algorithms. that is what could happen if we do not knew this in the bud. emily: this engineer makes the argument google should value diversity. he felt safe enough to write this. there are a lot of people asking why he still has a job. what action should google take?

should this engineer be fired? a verye should be specific conversation with him and others and the company around it. the other memos are pointing out he is acting as if it normalizes this kind of sexist, racist conversation. all of the facts are wrong. reality andments of factual elements, but then he pulls out facts that are incorrect. we have to catch that. the main thing is having open conversations. we have free speech in our country. we value that. we also have social norms about things. there really are rules about inclusion. our minds have evolved. we are right near the jefferson memorial. says, jefferson, the law

as the human mighty balls we learn new things and we can -- human mind in balls -- in balls rings --s, we learned new things. none of us created these things. put it behooves everybody to step up. this is our moment to evolve out of this and lead the world with the skills we have. tech can move so fast. if it chooses to priorities -- this -- if it chooses to prioritize this, we can move out of it faster. tech: you are part of the jobs tour to fill open jobs. how big are the challenges you are still seeing two women truly

making advances in technology and filling these jobs? >> the problems are everywhere. what is exciting about the tech jobs, we will be in san francisco this week, across the country, we show up. it is like a career fair meets a revival. at night, you have companies recruiting. forhave apprentice programs a couple of months into a higher paying job. tech jobs pay 50% more than the average american salary. companies are starving for people. governmentes, leaders, and talent around this country to get them together in the evening. we will be in milwaukee, west virginia, kentucky. with just in appalachia some graduating from boot camp.

sure -- reshore a lot of jobs. great new startups all over. one of my favorites was people have taken a container and put stem work stuff in it and put it on a playground and young children were learning coding. it is fabulous. one guy had built his own portable sound studio. wonderful entrepreneurs around the country. it is great stuff. emily: megan smith, thanks so much for joining us today. we will have highlights from our exclusive interview with the french finance minister. why he is promising a big change in the tax system across the e.u. this is bloomberg. ♪

emily: tech giants have taken advantage of tax loopholes in europe lowering costs and grabbing market share from local competitors. toaking exclusively bloomberg, the french finance minister said the country is gearing up to impose new rules that could have big implications for the tech industry. >> it is a strategy based on a level playing field, the same rules for everybody. when you are doing business in take theou cannot benefits of doing business in france or europe without paying the taxes other companies are paying in europe or in france. the same holds for all companies and for all states. you want to mean

lower the corporate tax to 25% everywhere, even the eurozone? 25%e lower it from 32% to by 2022. the second step, we want to have tax harmonization among the members of the eurozone. you have 19 members of the eurozone. you have one currency. taxes. have 19 levels of you have 19 different economic policies. because not grow this -- we cannot go this way anymore. that is why we are advocating for tax harmonization. the first step will be tax harmonization between france and germany. no later convinced than 2018, we should be able to for a common corporate tax

harmonization of all corporate taxes at the level of the 19-member states of the eurozone. >> what concessions do you expect from the germans to further this european integration? accept age, would you german head of the e.c.b. for example? >> we are in 2017. the decision must be taken in 2019. we still have some time before deciding who will be the next chair of the e.c.b. but we should not wait before taking decisions as far as integration of the eurozone is concerned. i think we should be able at the end of 2017 to make a first step towards more integration within the eurozone. palace french economy and

finance minister bruno le maire in an exclusive interview. ining up, masayoshi son once on the u.s. ride-hailing market. we will break it down next. this is bloomberg. ♪ who knew that phones would start doing everything?

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it is a precautionary measure that some eggs contaminated with insecticide might have entered their territory. the european commission today said germany and the netherlands notified the system over the weekend. tothey notified the system share the information so everybody knows. it is up to the national authorities to check because all of these eggs are traceable. king held talks with the palestinian authority leader today. the west bank visit is his first in five years and comes at a at aof rising tensions for muslims and jews. vote tomorrow in one of the most competitive presidential races in its history. the incumbent faces longtime opposition leader.

the success of the independent election board's computerized voting system is key to ensuring the process is free and fair. the man in charge of the system was found strangled last week. .lobal news 24 hours a day i am mark crumpton. this is bloomberg. it is just after 5:30 in new york, 5:30 a.m. in the west australian mining city where we are joined by paul allen was there for the annual conference. good morning. paul: good morning, mark. i am in a mining town so let's start with iron ore which is $75ing overnight hitting 5.63 wiping out all the losses.

later today, we will be hearing from the c.e.o., the head of australia's largest iron ore player. up as we waitures on earnings from tokio marine and olympus and the bounds of payments for june out of japan expected. a busy day here. more from "bloomberg technology" next. ♪ emily: this is "bloomberg technology." i'm emily chang. masayoshi son

confirmed his interest in u.s. ride-hailing market. take a listen. >> we are interested in discussing with uber. we are also interested in discussing with lyft. we have not decided which way. but the u.s. is a very big market. it is the most important market, so we are definitely very much interested in the u.s. market. softbank already backs companies in china, india, and southeast asia. we are joined by caroline hyde and bob o'donnell. bob, let's start with you. ambitious as ever. he has made investments in these other ride-hailing companies. there was talking might be trying to create some anti-alliance.

we heard he was interested in getting uber shares. what the make of this. bob: he is doing the dealmaking public. he is trying to build these core technology pieces. piece he was to deal with is the notion of autonomous driving which we believe will affect fleets of car sharing companies. if he can develop technology and leverage it across the different companies, he has a big opportunity to influence that market in a much bigger way than people may realize at first. softbank had reported was interested in potentially acquiring secondary shares of uber. there were reports that deal was not happening. what do we know about the status of softbank's investment or talk of investing in these companies? caroline: it is so convoluted because we had understood it was

uber he was initially after. perhaps buying from the secondary market. softbank also wanted to get in on the $70 billion valuation of uber with seats on the board. that seemed to fizzle out. .ow it is a lyft and uber he said he has not decided. the last time lyft raised money was about $7 billion. uber is about 10 times of that. on both, you will be getting into bed -- he will be getting into bed with either company. the chinese company he backs is an investor in lyft. prime investors is , a big his vision fund

wealth fund backed by saudi arabia. i think it is notable he said he wants to be the world's most valuable company, softbank, and he wants to have the biggest investment portfolio in technology. he has got to get into autonomous vehicles and ridesharing. he did not speak about got tennis -- autorama's -- autonomous end of things. take a listen. >> i think the way people use transportation and the lifestyle will be different from today, 30 years later, 50 years later. it will be very different. autonomous cars are definitely coming. comes, thetage rideshare business becomes even more important. caroline: he's going to back any

horse to win it seems, emily. emily: bob, i wonder if this sets off a race between uber and lyft. neither our public companies. they need funding to continue to grow and compete with each other as well as globally. does this set off increased competition between the two of them when it comes to potentially billions of dollars? bob: i think it does. my guess is he wanted to go with uber. given the challenges they have had, i think he realized maybe there is this interesting opportunity and he can do something to drive lyft forward and still play a role. his view is long-term. he wants to see who can drive this autonomous vehicle technology and share that across other ridesharing company's and leverage the semiconductor companies he already owns a piece of an build that into this leveraging the

vision fund as well. emily: we will keep a close eye on all of my seo she sign -- masayoshi son's dealmaking. sticking with softbank, it acquired arm holdings last year. the company posted a quarterly loss. net sales for the past quarter million, up from $409 million the previous quarter. it included expenses recorded following the acquisition. explore the shared workspace global startup -- startup's global ambitions. this is bloomberg. ♪

continuing itss global expansion centering on southeast asia and south korea. the world's largest provider of shared workspaces says it will invest $5 million and acquire a co-working start up. the latest move comes on the

heels of the announcement to expand into china, japan, and a third location in seattle. joining me to discuss the road ahead for wework, selina wang and new york, and our guest host for the hour, bob o'donnell. talk to us about the strategy and why wework is making these moves. >> this is interesting because this acquisition is the first time wework has acquired another co-working space. previous acquisitions have been for related services. with this acquisition, they are getting a local team with expertise -- local expertise based in singapore. the company says they wanted to do this acquisition for the talent and local expertise. they have been in spending rapidly. they are really taking this approach where they are finding people already there who have the expertise and fighting investors together to rapidly scale -- finding investors together to rapidly scale in the

region. what heake a listen to had to say. co-working, even corporates are looking it as well. it is a way for them to be flexible and learn how to be noble as -- nimble small companies. we are hoping small companies become big. emily: how optimistic are you about this code working space trend? $20 billion. bob: it is impressive to have gotten this far. there are a lot of concerns people have when they have started to do this. you find they are very noisy environments. it is hard to get work done in a lot of these places. looked at where people expected to be working, those

type situations were growing but stalling. that is the concern. the other concern is this has traditionally been a u.s. business, tech focused kind of attraction. you find a lot of u.s. based tech companies working in these environments. whether that can translate globally and into other industries remains to be seen. how is wework adjusting these concerns? >> they have a high valuation. they need to live up to that by globally.expanding a lot of the concerns are that when tech and startups are doing well, wework will have a lot of business. they have made changes in their strategy to incorporate more enterprises and large businesses like microsoft that wants flexible working space. they are trying to diversify the revenue streams globally and

with existing coworking strategy. emily: there are competitors. wework has partnered with softbank and the chinese investor to expand into asia. there is a big chinese competitor, yourwork. tell us about the differences. >> it is a big competitor. it is homegrown. they have grown rapidly and have a lot of local investors that are well-connected in that area. wework is very much aware of this big competitor and hoping the help of softbank they have enough capital to win all of these customers. urwork similar model but in china, the price is less but a similar idea. nice working spaces. it is up to the amount of capital they can put into it and if they can successfully leverage the local folks as well as their partners.

as we have seen in the past, not all u.s. companies have succeeded. emily: is interesting to note they are doubling down with welive. we will keep watching how this plays out. selina wang in new york, thank you. bob o'donnell of technalysis, you are sticking with me. the financial technology startup is working with barclays in hopes of securing bids of around $200 million. the move comes as the online landing industry has been hit with a number of setbacks in the public and private markets. venture capital firms, it has raised just over $300 million since it was founded in 2013. receiving the most recent funding in march. a move 20 years in the making. why netflix decided a comic book publisher was the right fit for his first acquisition, next.

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the dow posted another record high today gaining for the 10th straight session. one stock that failed to fully join the historic run is disney. investor concerns are weighing down the stock. scarlet fu takes a look at the company in " the numbers don't lie." >> disney will reporting earnings tuesday. they released "guardians of the galaxy ii" last quarter. disney hopes its movie and think part businesses offset any weakness in the media unit. let's look at disney. we start with how disney's revenue breaks down.

you hear a lot about how the media unit is big because it represents the biggest slice of the pie at more than 40%. the runner-up is theme parks followed by the movie studio and consumer products. espn is under massive scrutiny due to the subscriber losses. the past three years, espn has lost 9 million subscribers. more recently when you look at the month of june, streaming content is helping to slow losses but espn still lost subscribers in that month. pessimism surrounding espn was highly exaggerated. some of that is reflected in disney's stock which has fallen due to renewed industry concerns on fewer viewers and lower ad revenue. cable ratings fell 18% in the month of june. networks areorts bracing for a drop in ad revenue for football games for the upcoming season. perfect timing that disney thing

parks are doing better. a big driver for the unit is the shanghai disneyland resort. that park is now the fourth most popular across asia. disney's movie studio has released a number of hits. coversrnings period these movies. later this year, disney well release the latest "star wars" movie. disney hopes it will offset concerns over the media unit. it has not shown the record double-digit rally we have seen in industrials. we will get a better idea of their prospects after tuesday's closing bell. emily: that was scarlet fu. tune in tuesday. bob iger will be joining us talking with david. netflix has made it very first acquisition.

the streaming video company announced it snapped up the comic book publisher behind characters and comic books like old man logan. becomeedia companies wary of providing content to streaming services as netflix looms as a threat. lucas shaw, of all the acquisitions, why miller world as their first? >> a big heart of it coming off the disney segment is because disney and time warner already have pipelines of comic book material they can use. right now, all the tv shows and movies netflix offers were most of them are from disney. licensesmovies netflix

after they appear in theaters. own pipeline its of original comic book material it can develop, own, exploit down the road if it wants to make t-shirts or a theme park ride. emily: bob, is this a smart deal? bob: i think it is. you mentioned netflix as a media company. that is different than netflix as a streaming company. to become a media company, they have to buy and create original content. if you want to create stickiness in your service, that is the kind of move you have to make. we see amazon and netflix doing this. i expect we will see more of this. this is a challenge for apple because it is not clear what their commitment is yet. emily: when i spoke with tim iok after earnings last week, asked him about their video and original content efforts. he said it is very experiment to. -- experimental.

what do you think this means for other big media players and unconventional players like apple? >> i think the traditional guys, disney, fox, cbs, viacom, are intrigued by this. they are not sure what to make of this. i had a couple of people i spoke with asked me to explain it. netflix has never bought anything before. this seems like an outlier. it does not mean they will be buying a bunch of libraries but it opens the door to that possibility and reinforces netflix wants to be ready for a world where no one will license them a lot. we have seen big companies retrench and revise their strategy because they felt like somethinggiving valuable a way to let netflix build its service. we report on apple, facebook, and google. we reached a point in terms of media creation, production, ownership, development, netflix

and amazon are on another plane from those companies. netflix and amazon are making as much tv as the biggest media companies. they are streaming all over the world. apple and facebook are still dipping their toes. emily: hulu just had its first hit. fact that amazon and netflix are so far ahead me nobody else has a chance? bob: the content creation business is tough. there are decades of history of how difficult it is to make that a successful business. it is a hard skill to acquire. you're seeing a lot of effort. the tech industry marrying up with hollywood and bali would -- bollywood to come up with compelling original content. the notion of all that content being given to -- licensed to netflix to use may go away so they have to be prepared if they want to survive long-term as a

media company. we have to start thinking of them in that regard. emily: bob o'donnell, president of technalysis, thank you for joining us. lucas shaw in hollywood, thank you as always. that does it for this edition of "bloomberg technology." we are live streaming on twitter. check us out weekdays. that is all for now. this is bloomberg. ♪

♪ announcer: from our studios in new york city, this is "charlie rose." filmie: detroit is the new from kathryn bigelow. the film is set during the 1967 detroit riots in the killings of three unarmed black men at the algiers motel. "the l.a. times" caused excruciating and necessary. here is a look at the trailer. >> i assume this is about wh