♪ reporter: i'm alisa parenti in washington and you are watching ethereum let's -- "bloomberg technology." let's start with a check of first word news. testing says he's confident the measure will pass. minority leader nancy pelosi says the gop last-minute efforts are "amateur hour." trump made a stop in pennsylvania to tell the success of the tax overhaul. apple ceo timled cook to thank him for his promise to reinvest billions into the u.s. economy. the president was on hand to support gop congressional nominee rick's akoni.

the united states and mexico have agreed to extend the upcoming round of nafta negotiations in montreal by one 29.to january the mexican ambassador to the u.s. told bloomberg today there is general agreement among the free nations on about 40% of topics being negotiated. british prime minister theresa may met with french president emmanuel macron outside lunday -- london today. this was to strengthen security and intelligence between the nations. hoping to help with brexit negotiations. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i'm alisa parenti and this is bloomberg. ♪ selina: i'm selina wang in for

emily chang, and this is "bloomberg technology." coming up, ibm ends its 20 two quarter streak of declining revenue. report card, up next. plus, amazon narrows its list of top locations to build its second headquarters with thousands of jobs and billions of dollars at stake. and the fall of travis kalanick was darker than you thought. the details. lead.to the ibm released its fourth-quarter earnings showing revenue growth for the first time since 2011. the shares of the big blue are dropping in after hours trading, despite the fact that ibm's new mainframe servers are playing a major role in boosting sales. as thers are anxious company faces fierce competition from the likes of amazon, google, and microsoft. joining us from new york, anurag rana. thank you for joining us.

we are seeing a revenue finally spike after many years of decline, but shares are trading down. what's going on here? >> i think it has to do with the margins. i think investors may be looking at some improvement over there. as far as the revenue increase is concerned, this was pretty much baked in. we knew the fourth quarter numbers are going to be strong because of the refresh cycle. the question is whether they can sustain this momentum throughout next year and we learned that on the conference call, which is starting soon. selina: ibm has placed its bets into newer lines of businesses like cloud computing. have they proved this is paying off yet? a very good sign, but as i've said it in the past, the legacy business is still a large portion of ibm's business and is driving down growth rate.

they really have to do an acquisition or two to activate the momentum even more. improved techeing spending from global enterprises, which should help emerging technology portfolio in 2018. selina: what does this mean for ibm's long-term trajectory? what does it mean in the greater turnaround? >> they need to have a lot of growths with positive rates. in almost every quarter, i would want them to have a slight improvement in the growth rates. ibm is trying to position itself as a cloud company. 7%tware spending is around or 8%, so we still have a long way to go. it has to be a gradual process. is investor outlook right now in terms of the turnaround strategy going on here at large?

is their skepticism or hope that this could actually improve? >> i would say the playing field is somewhat even at this point. there have been a lot of skeptics over the last five or seven years, but in the last one year, we have seen a lot of analyst outreach as the growth negativecome back from to around 1%. we have to see whether they can maintain this space. selina: thank you, anurag rana of bloomberg intelligence. now another top story we are watching. amazon has narrowed its field for hq two, the proposed second u.s.uarters in the 20 cities made the cut. among them, new york, boston, chicago, miami, and austin. it is expected to cost $5 billion and create 50,000 jobs. , ourng us from seattle bloomberg reporter, and here with us on set.

spencer, i want to start off with you. if you take a look at a map of the locations they have narrowed , there seems to be a strong concentration on the east coast and south. i noticed there were about three bits from the washington dc area . are there any surprises or standouts that we have heard? >> there's definitely a big presence on the east coast and southeast, and the major metro areas. i wouldn't read too much into the three areas around washington dc, because amazon is likely targeting labor pulls -- pools, but it has to negotiate with different political groups because of geographic boundaries.

selina: john, i know your firm has been digging into the biggest tech hubs in the country. what did he find and did many of them line up with what amazon released? >> we looked at a lot of our data, which we have data on almost half a billion people in terms of skills and capabilities. what you find is that a lot of the bigger cities like new york and los angeles tend to have the most candidates to pull from, but also if you look at the list, you have a lot of proximities to universities. for example, pittsburgh next to carnegie mellon. for technology talent, that would be a relevant factor. selina: amazon also received proposals from hundreds of locations. what is the process they took to really narrow that down? >> a lot of what they are thinking about is one of the world's fastest growing companies, what will happen in the next 20 or 30 years? where do people want to live? they will factor things like public transport, cost of

living. i think it breaks down to talent at the end of the day. can they find enough talent in that location? do people want to live there? what is the quality of life? selina: spencer, what characteristics are qualities do you think amazon is looking for? we have cities ranging from new york, to even suburbs like montgomery county. reporter: the rain thing -- main thing will be size of labor pools and the amount of time. amazon churns through people. typically people only last about three years. if you are talking about thre -- 50,000 employees, they have to have attrition. they need a big talent pool to draw from. selina: spencer makes a good point. what will it make to attract people to this city they choose, and where will they come from? silicon valley transparence that are organically grown? >> this is why the education system is important. we have so many people growing up in other parts of the

country. when they look at their cost of living and their hometown, they would love to stay if there are enough drug. you see a lot of -- if there are enough jobs. you see people gravitate to the bay area because they perceive their own hometown does not have economic u opportunity. if amazon were to build in a smaller city, it would be a bet to think that they are going to keep the talent in the area versus watching the talent leave. one thing that will factor into this is amazon's focus on a diverse workforce. if you think about where there pools ofgreater diverse candidates, that will factor into the equation as well. selina: spencer, amazon has received huge tax breaks to build its delivery and warehouse systems across the country. what benefits do you expect them to get for this new headquarters? reporter: if you think about the warehouse jobs, those are lower skilled and lower paying. it's going to be easier for

politicians trying to lure amazon to justify even better deals. this is huge. 50,000 jobs, total compensation including benefits and the $100,000 range. these are a big economic impact. whatever you suffer the warehouses, you can expect to the -- see that for the headquarters, professionals earning good salaries and buying homes, and a good ripple effect throughout the economy. selina: speaking of the economic impact, amazon has completely transformed seattle, wrought great economic wealth as well as strains on the infrastructure and rising prices. what do you think this ultimately means for the chosen city? >> i think it's huge. now you have a commitment that made, 50,000 relatively high-paying jobs, but it is the follow-up effect. amazon will bring other

companies, other innovation. it made -- may be more appealing to live and go to school there. i think it's why you have seen so many mayors in cities go to amazon.ngths to attract they recognize there are not 100 amazon's in the world right now. they can have a big impact on a region. selina: fascinating stuff. thank you so much for joining us as well as spencer. saveg up, the battle to net is seeing u.s. states take legal action. we talked to one of the state's attorney general's leading the effort, next. "bloomberg technology," is livestreaming on twitter. check us out weekdays at 5:00 p.m. in new york and 2:00 p.m. in san francisco. this is bloomberg. ♪

selina: qualcomm has won eu approval for its bid to take over a rival chipmaker. to secure the approval, qualcomm fieldt will not by near communication patents. it will also maintain licensing technology. a side effect of the deal might make it harder for broadcom to push through the $105 billion takeover bid for qualcomm. now the fat for -- fight for net neutrality is heating up. 20 attorney generals are suing the sec over its decision to roll back the obama era internet protections. one of the attorney general's leading that is the california ag.

he spoke to bloomberg earlier about what is at stake. >> it's the beginning of what i hope is a fight we can win. if we can't, that means a lot of people in this country will no longer have access to the internet the way they have expected it. we all want choices and we all want the freedom to choose. if you get rid of net neutrality, all of a sudden you havesa system where the will have it all. >> what about the idea that the president will sign an executive order to make it easier or companies to put broadband? is that taking the spin out of it? >> it won't work. why would they do that in a rural area instead of the densely populated areas or areas?income that's why you need net neutrality, because there's no gaming of the system by providers of the service. think in terms of water or even education, electricity.

we don't tell companies that get to district -- dispense water or electricity the places where they provide services. you decide where you want to go based on money. go.now where they will they will leave everyone else behind. think in terms of old mail services. in rural areas, there were no mail services if it were based on money. mr. attorney general, what can you do more than the lawsuit to actually try to fight this rollback of net neutrality? for example, is it possible for you to take a case against an internet service provider that might be discriminating by feed serviceower to some of its customers? can you do that? >> we could continue to enforce our state laws. we can make sure a company is not discriminating against communities. we can work with our state legislature and governor to make sure we pass whatever laws we can in our state to make sure we

have a robust regime of protections for consumers. we are moving in all of those fronts, because this is about not only providing people with choice and freedom to choose, but it's also about keeping california's economy moving forward hearing we are the economic engine for the country. we are the sixth largest economy in the world. why would we want anyone to disrupt that? >> who has been a bigger chairman's the policies, the entertainment industry or the tech industry? >> both. they both understand the consequences of not having that access for consumers. if the choice is made by those who have money who wield power, those in the middle are the biggest losers, the middle class. they don't have the financial leverage to try to attract the business their way. different speeds of internet service. you will have different choices in the types of media that you can look at.

can you imagine your kids? if you use internet to do your theyork, he will have -- use it to research. there will be vast numbers of kids who cannot afford it. thatve you notified providers in california that this will be the actions you will be taking? in theve notified those community overall for the last year i have been the attorney general. california had been moving to try to do what it candid make sure that we move forward protecting our consumers before this action by the fcc. we will continue that conversation because we want our internet service providers to thrive. california is the innovator when it comes to the united states. we want companies to locate in california.

we want them to know innovation occurs here. we are ground zero for innovation. but we want people to know we want it for everyone. selina: that was california becerra general xavier on the battle to restore internet neutrality. coming up, and app that will allow you to save and invest in spare change. we will call you about acorn grow, coming up. this is bloomberg. ♪

selina: financial technology startups are grabbing a greater share of capital from investors.

a fund cofounded by u2's bono is making its first that by backing acorn. acorn offers and investing's and savings app tailored to people with small amounts of disposable income. 2.7 million people use the app to put their cash into exchange traded funds managed by vanguard, blackrock, and others. joining us from new york, the acorn ceo. your company has already racked up millions of customers. how does the app exactly work, and what is your target demographic? >> thank you for having me. acorn makes it effortless to invest spare change. it goes to exchange traded funds in a simple portfolio. when you sign-up, you link your bank account, you link your credit card or debit card. anytime you make. eight purchase -- anytime you make a purchase like at starbucks, we round up the purchase to the nearest dollar and invest into a portfolio for you automatically.

using: many people are this to invest a few cents here are a few dollars. what is the average investment side? >> it's really easy to invest $50 to $60 a month from the roundup feature. automatedve an recurring investment or you can make an investment by the day, week, or month. that gets added into the same portfolio. it makes it simple to add that up. are setting if you up this sort of recurring payment structure, it is still a very small amount compared to a lot of the larger robo advisors, digital investment platforms. what is the plan to get profitable?are there higher-margin products in the works ? >> our customers tend to be under $100,000 income households. we have a simple subscription. you pay a small monthly fee. we have a program called found money, where we partner with 150 airbnb.ike nike or

they would invest into our customers' accounts when you shop with them and we make money that way as well. if the subscription business model and we make money from partnerships. we think it's a nice model. one of the things we are passionate about is building a business that does well by doing good. selina: there's also a growing number of startups in this space, digital wealth management also targeting more beginner investors like acorn. what makes your company different? >> a couple things. first of all, we make it really easy to get going. one of the things from a customer's perspective, because of roundups and automatic recurring investments, you invest really frequently and you come back and constantly see that investment amount at up. $25.seven dollars, $15, you start to get encouragement and cause -- confidence that you can be an investor. we are talking about largely people who have not invested before. people investing around 18, 19,

20, who might have only started in their 30's ordinarily. with the roundup feature, when you go around your day and make urges us, we make sure you are also investing then. with our found money program, we partner with brands, and they invest as a reward for shopping. we are helping you collect money in various ways. we focus intensely on financial education. we have a publication called "grow," led by a finance editor from cnbc. that education is there for you when you are making decisions. those are some of the things that make us different. selina: i want to touch on your fascinating investor list. you have attracted many celebrities including bono, ashton kutcher, and kevin durant. how are you pitching yourself? >> our business model is simple. i think our investors like bain, paypal, ppd, they are excited we

have a good business that does well by doing good. we are building a product that helps americans that are underserved. we believe in financial inclusion. we have a business model that's fair for companies -- customers but also allows us to build a strong business. selina: no luck, acorn ceo, thank you for taking the time to join us. for joiningnk you us. coming, travis kalanick's downward spiral at uber. this is bloomberg. ♪

reporter: that's 12:30 here in hong kong. i have an update of the top stories. softbank is now uber's top shareholder after buying about a billion dollars of stock at a discount and investing 1.2 $5 billion directly. this deal includes extra board seats. wanda hotel development company has halted trading in hong kong pending the announcement of what it calls a very substantial sale. company isarent close to reaching an agreement to sell two australian luxury property projects. the new zealand prime minister has announced she is expecting a baby in june.

she says she and her partner are really excited that their team will expand from two to three. she says clark will be a stay-at-home dad while she wears two hats. >> i am not the first woman to multitask. i'm not the first woman to work and have a baby. i know these are special circumstances, but there are many women who have done this before i have. i knowledge those women. reporter:global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. bloomberg. let's check on how the markets have been trading in the asia-pacific today. here's juliette saly in singapore. are seeing yet another record high on the regional index, despite rising yields. u.s. 10 year yield pushing past 2.63 this evening. strengthening in the latter part of the session.

you can see yields in sovereign bonds in asia looking strong as well. note hasnd's 10-year -- seeite that, we still movement into the activity -- equity market as well. apple suppliers have been good. also, good movement coming through from large stocks in china over the lunch break. india continue to hold record highs. australia's market off by a 10th .f 1% we have seen fluctuations in japan's nikkei index as well, which has been lower over the last couple of sessions. the nikkei, fairly flat in afternoon trading. as we know, it has been holding towards the 26 year highs. still some dollar weakness,

sending these currencies higher. having a look at some of these stocks i mentioned, tech players leading the rally. this is bloomberg. ♪ selina: "bloomberg technology." this is -- this is "bloomberg technology." i'm selina wang in for emily chang. now to the top story of the day. amazon has narrowed its list of potential headquarters for a second headquarters down to 20 cities. this includes new york, boston, toronto, chicago and miami. this is expected to create 50,000 jobs and cost williams of dollars. -- billions of dollars. amazon is really breaking away with this public spectacle from its very secretive methods of expansion. why do you think that is? to dohis have anything

with trying to boost its profile under trump's agenda? >> thank you for having me. i think it has everything to do with them highlighting how important they have become to the overall economy and the marketplace, and how they are driving a lot of the innovation happening in online and off-line retail. you are right. jobs is wildaying as you go on and reads -- read the press release. they have hundreds of thousands of employees. they are not small by any means. it's important for them. it will be equal in terms of their statue in -- stature in seattle. it's a big deal for them. it's another example of how important they are to the broader ecosystem of commerce and the economy. to shift to their new ventures. jeff bezos has famously sacrificed profits for growth. bloomberg news is reporting they are quietly building a marketing platform. do you think this could move the

needle in terms of profitability? >> when you think about 2018 and some of the key trends at amazon specifically, we talked about the new headquarters, and of course there's the whole foods integration, but online advertising and building the marketplace, it absolutely would be a needle mover in terms of profitability over all. maybe not in terms of revenue, but in terms of profitability, if we look to see margins at facebook, google, and other marketplaces at size and scale, you're talking about maybe contribution margins of 75% or 80%. to amazon, that could be a big driver of profitability. stepping back, you think of the core businesses at amazon, the retail business, aws business, maybe advertising. those are high-margin businesses

that can use e-commerce initiatives. selina: if amazon does build up its marketing platform, do you think it could break up the duopoly between facebook and google in digital advertising? >> i think it would be hard to break up. i think for sure there's a constant off-line to online secular shift happening. one of the benefits google and facebook and even amazon have is the amount of knowledge and ability to target a user, something that you just can't really do as effectively off-line. amazon think that entering the fray would significantly impact google's search to a certain degree. at the end of the day, search remains a key part of most advertising campaigns. i think it would impact traditional media and where ads might be originally focused or earmarked towards off-line uses like tv or print, it might get

reallocated over to amazon. i think facebook and google have certified themselves as advertising networks, and i think amazon has the opportunity to do that and they are hiring tobuilding and tech stock support that. i don't think it impacts google and facebook. if anything, it makes the pylon larger. -- pylon larger. selina: we will have to check with you in a few months. thank you for joining from investor lawsuits to federal investigations to mass resignations, 2017 was a rough one for uber. before all of the crises that hit the startups, it also had a critical problem in its foundation. former ceo travis kalanick. the latest edition of bloomberg businessweek provides the inside story of uber's hard year and the fall of travis kalanick. eric newcomer wrote this story and joins us now.

this was a fantastic story. it was much darker than i had anticipated, from the pr crises, to the internal turmoil. give us a rundown of the new scoop you got out of this. reporter: we tried to take people behind the scenes. we published the driver video in february where he's arguing with the driver. as it turns out, he was in a meeting with top executives discussing uber's toxic brand. uber found that people had a pretty good impression of uber, if they had not heard of travis. if they had heard of him, it's negative. at that point he got pulled out of the meeting, he was on the floor squirming, saying "this is bad." it was a jarring moment for executives where they realized he was central to their image problem. selina: we aired that tape on this show, actually.

you had a really interesting detail about the new ceo, and when travis first interviewed him in seattle. in, he said that it seemed like travis was still in charge. how has he distanced himself? reporter: there was a period when an executive committee was supposed to be running the company, but travis was helping to recruit the new ceo. he was still calling into meetings. at one point, he was talking about a potential shareholder vote, counting to see what kind of support he had. i think that has really been pared back. travis offered up 50% of his shares he had to sell 29%. he's a real billionaire. no longer a paper billionaire. he sold $1.4 billion. now he is really stepping away and the new ceo is taking up the oxygen. from your sounds like story that he's doing all the

right things. what is his turnaround strategy exactly? reporter: i think maybe uber needed to be the rule breaking company to sort of break through the taxi industry, but now it's incumbent. it's going into striking agreements with london and brazil and apologizing. there's a lot of apologizing. they are also disclosing past actions. the new ceo talked about the hack of 57 million accounts proactively before the press was on to it. i think there's a lot of apologizing, owning the mistakes, and moving forward. selina: you also had fascinating detail on area the huffington -- arianna huffington. reporter: arianna huffington was super close to travis kalanick. for a long time, she was a longtime seen as his loyalist. i don't think we put this in the

story, but she was with travis in fresno when his mother died in a tragic boating accident. they were very close. she plays a very active role in , to some mixed reviews. also bringing your expertise from thrive to uber. selina: fascinating. i'm looking forward to your next cover story. has officially completed its highly anticipated softbank. shareholders sold about $8 billion of stock at a valuation of about $54 billion at a price. discounted this puts into effect changes of the company's board and stock that were contingent on the transaction going through. create additional board seats, extending the total to 17. why one company made the pigot from trading bitcoin to handling cryptocurrency payments. the ceo of circle internet, next.

this is bloomberg. ♪

selina: u.s. taxpayers may end up paying for the missing government data like launched by elon musk's spacex. the satellite came off of the rocket and crashed into the ocean earlier this month. industry experts don't think spacex or the satellite builder will bear the cost, because they have government contracts that limit liabilities tied to the last satellite.

now let's turn to the cryptocurrency market. the roller coaster in prices we have seen at the start of 2018 east on thursday as bitcoin held onto gains above $10,000. litecoinhereum and jumped more than 5% and ripple jumped even more. but this called for more speculation around the globe and it is making investors question if there's opportunity in the market. joining us is jeremy allaire, the ceo of circle finance, a company that helps customers send cryptocurrency payments. boston.ning us from i want to talk about the falling value of the bitcoin, rebel, .thereum -- ripple, ethereum which of these do you think actually will have utility and staying power moving forward? >> thank you. i think if you've been in this market for a while, four or five

years, 20% moves are pretty normal in this market. if you are in the public stock market, 20% moves are more significant. but this has been highly characterized by volatility since its inception. obviously, you need to pull back a little bit and look at the chart over a week, a month, a year, or five years to get a bigger picture of the kind of -- what happening with these assets and how they are growing in value. a lot of things going on. obviously on the regulatory side. this is a really a market that's maturing. four years ago, there were no regulations. this is complete wild west. there were no serious exchanges. we are now in a world where this is regulated in the u.s. by multiple regulators. mainstream investors are involved. there are retail products. is expanding into other markets, like japan, who has embraced in this. it's one of the biggest markets in the world.

regulation isn't necessarily a bad thing. it means consumers are protected. it means investors are protected. it means there's not market manipulation. there's market structure that makes sense. if anything, regulatory engagement is a positive. i think when people step back from this, they generally see that and that partly explains the rebound that we've seen over the past 36 hours. selina: circle has made interesting changes to the business. you actually stopped servicing direct consumer bitcoin trades and are focused on digital payments and over-the-counter trading. why make that event -- pivot. >> we didn't make a pivot. we got consumers should be able to send money the same way that we share media. we thought we could build on top of cryptocurrency, because that was the foundation of how we got money should be stored and transmitted globally. we built a system on top of

that. people in that payment work using the product to i and sell bitcoin. the system allowed for that. that was not the center of the design focus of the product. we wanted free social payments that worked around the globe, and through the blockchain, could connect to lots of currencies. think of it as a crypto powered alternative to something like venmo or square, that works all over the world. behind the scenes, we are building our crypto trading operation that supports that and allows it to make it a free product. circle trade is one of the largest, if not the largest otc trading in market making products for crypto. we make billions in crypto. it is a significant business for us. selina: that's fascinating that it has become such a large part of your business, but as more institutions like goldman sachs look to get into this business

of market making and providing liquidity to institutions for these cryptocurrencies, what is the impact of that on your business? >> we kind of look at it a few ways. the first is, obviously, if we see this go from the volumes we 10 or 20 or 50 times the volume, that's a great opportunity for a lot of players to be in the market. there's not one broker-deal in the world. for example, these markets are made globally with trillions of dollars from lots of different players. we are in a really strong in part in this space, because we have the fuel of consumer products. that's actually a key piece. we have teased a little bit about this publicly, but we have a new product coming out called circle invest. that aims to make crypto investing as easy as investing in a mutual fund or in your , simple, fast, instantly, with the best economics in the

world. circle trade allows us to power that. we will have a family of consumer products in this otc business. that's a pretty strong and differentiated position in the market. selina: 30 seconds, what are those consumer investment products going to look like? you recently acquired trigger finance, a mobile investing platform. >> yes. the trigger finance team is part of the leadership in building circle invest. circle invest will be a mobile first experience. if you go to invest. circle.com, you can see a teaser. we like to say it is crypto without the cryptic. it is optimized around a user experience on mobile which lets you see a portfolio of assets, balance those, look at the return of investments on assets overtime, and do that with instant liquidity and the best economics in the world with multiple types of coins and

assets. selina: i'm looking forward to our next conversation. jeremy allaire, the ceo of circle. thank you for joining us. coming up, with its new radio and podcast upturns -- options, spotify is going head-to-head apple. is it ready to go up against tech giants as it prepares for an ipo? this is bloomberg. ♪

selina: as spotify preps for its ipo, it is working on new ways to fear listeners away from into the radio and podcast space. we are joined by lucas shaw in los angeles. how much of this is a selling point to investors ahead of the ipo? >> spotify has tried very hard

to convince people that its profit margins are going to improve. the big challenge for them, as successful as they've been in creating this market for on-demand music, and really lifting the record industry up after years of decline, the company itself is not profitable because it pays so much to rights holders. all this other types of programming like news, podcasts, culture, are ones where if they are successful, they can bring in new customers, sell advertisements, and they don't have to spend as much and it will improve the margin picture, which is of big concern, both for the current investors and future shareholders. selina: the cost of music rights is incredibly high. spotify has been steadily diversifying. what are some of the other projects they have been working on and how successful have they been? reporter: it's been mixed. for the past few years, they have dabbled in video and forms of audio that are not music. initially, they hosted videos

from media companies like rice e and espn. vic none of the projects really worked. the executives are aware. podcasting holds more progress. withhave had some success those like the new york times. now they can take audio and enhance it a little with visual elements. spotify has come to the conclusion that having original video and trying to compete with youtube won't work, but if they can take the thing people come there to do, which is listen to and make it a little better, that can work and maybe they can sell ads at a higher rate because there's a visual element to it. selina: what do you think consumer adoption will be light for news and political coverage spotify? i -- is already huge competition from apple and google. reporter: i think there is huge potential for it. i think about it personally. on my way to work, i tend to

toggle between listening to podcasts, music, and the radio. switching from the podcast app to spotify is kind of a hassle. if they can deliver podcasts and news in the same app as music, that is replicable for a lot of different people. they do have a lot of competition and a half to get the word out there that if you want to listen to podcast, you can do so on spotify, and you don't have to do so using the apple app, which is still the market leader for 50% to 60% of podcast listening. selina: i will certainly be keeping an eye out for spotlight. thank you lucas shaw. that does it for this edition of "bloomberg technology." a reminder that we are livestreaming on twitter. at 5 p.m.ut weekdays in new york and 2:00 p.m. in san francisco. that's all for now. this is bloomberg. ♪ retail.

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