emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up, the pressure is on. disney is under the gun to respond to comcast' $65 billion bid for 21st century foxs. following the greenlight for at&t-time warner, what is the appetite for more media and and a in 2018? of payment funding circle outlined their ipo after a string of massive public

debuts. and a border wall between the u.s. and mexico was the centerpiece of trump's campaign.al as the administration moves to build the wall, could new technology eliminate the need it? first to the top story. in the high-stakes poker game to buy 21st century fox assets, comcast has upped the pot. comcast has made an all-cash $64 theion offer, topping offered disney had ponied up. are we looking at an all out bidding war? senior analyst craig moffett seems to think so. take a listen to him earlier. >> it is a must certainly just the beginning. there was some expectation that comcast would come in with a sort of shock and off -- awe bid. they did not do that. my sense is they don't want to bid against themselves, and they will wait for disney to make the next move and decide how high they want to go. emily: just who will win the

--e to bart simpson, fx nor the rights to buy simpson and fx? let's go to gerry smith. and amy. what is the next move? i do think that fox obviously has to take a good look at this. i think comcast makes a point in saying they don't want to be rejected, since they are offering a pretty healthy premium here. it is an all cash deal. they are making a lot of different concessions, even offering a regulatory breakup fee. i do think they don't want to be rejected, and i do think fox does have to look at the all caps premium deal. a month ago, disney ceo bob iger was on bloomberg television and asked about the potential of a comcast bid. he said he thinks disney has a better shot of passing regulatory approval. then he said this. >> i think if you look at that

versus another offer, whatever that is, in terms of money or the source, you have to hold that up against our offer, not just on value, but against the real possibility of it happening. we believe we are offering shareholders in both companies and outstandingly positive or attractive proposition. emily: now that we know the terms of the comcast offer, which one is more attractive? >> i think the big thing to look for is what is going on in washington. this week, we saw a judge really give at&t a victory in its case against the government. now you are thinking about comcast potentially trying to buy fox. to the at&t-time warner deal to a distributor looking to buy content, and that led, in some cases, potentially create regulatory concerns. as we have just seen, the at&t given -- through, so

maybe it has given fox investors pause about the comcast offer, maybe they have more confidence. emily: do you think regulators would favor one deal over the other? >> i think it's a tough call to make. obviously, at&t and time warner was a vertical deal. comcast has that nbc, there are horizontal and vertical factors that could complicate things. i think they are clear they are willing to divest things, , and try to get this push through. emily: what do you think disney's move will be next? i believe the clock doesn't start ticking for another five days. what happens then? reporter: disney would have five days to come up with a new offer. if you think about what disney has said, they are looking to really take on netflix. they are very much staking their future on building a direct to consumer service, and i think they look at the fox assets, fx

, national geographic, and the studio as something that can supercharge plans going forward. i would be very surprised if he did not try to conjure -- counter the bid. emily: amy, what is the signal in terms of future media m&a for this year, given that we have seen that regulators can be favorable? >> i think we are clearly in a get big environment. if you are a free radical standalone company, it does seem like you need to respond and try to think about shifting. i think for a lot of these traditional media telecom companies, you are in a world competing with netflix, facebook, amazon, apple, the list continues. it is unclear whether or not some of the same names would try and scoop up some traditional media assets. making ancast is also ambitious push in europe for

sky. what does the future of a global comcast look like? >> i think their view is content travels globally, and i have a lot of different ip that does travel well, including parks and film. controversy for u.s. investors is, why do you want to gain more exposure to linear tv, which has its own struggles? i think they are taking a longer-term view in they need longer-term vision, they can provide over-the-top services and leverage the content globally that they have, including sports. emily: walk us through the process, as it stands now, five days, what happens next? -- disney would look at the bid. disney has five days to come back with its own offer. a lot of observers think disney will not only up its current

offer but also add a mixture of cash and stock, and not just the deal.us all stock one thing comcast said is that there deal is all-cash. going forward, comcast would have the opportunity to counter, and it could go back and forth in a bidding war into the summer. emily: we are seeing a shakeup in the power dynamic between traditional cable companies and the rising streaming companies. how does this impact that balance of power? seeing,nk what you are at&t was very clear their acquisition of time warner was about netflix, and expanding into mobile video and advertising. it are seeing the incumbents really trying to take on disruptors. it goes to show you how quickly consumers are changing media consumption patterns. reminder, the two sides are not vying for all of

fox, just the entertainment assets. what is fox news and others would be part of a new entity. tell us about the plans for that. reporter: what is not for sale of rupert murdoch's empire is fox news, which is the big moneymaker, and the fox broadcast channel, as well as ss , their version of espn. what is left of fox will be a very sports focused company. in fact, they just won the rights to nfl thursday night football. news and be a very sports focused company, which given the way the tv landscape's work, those are the two forms of programming people tune into life. -- live. it is a sure move on rupert's part to not put those up for sale. emily: that would be run by lachlan murdoch. how do you expect the personality side of the equation

to play out on the disney -comcast-fox side with james murdoch, bob iger, brian roberts? >> you are right. i think it makes m&a very complex, because you are dealing with the personalities, family ownership, and generational wealth planning. that complicates things. for comcast, they really have done a good job at really in a way corporate governance has not been a big issue. i think the ceo has done a good job at appointing people to run different silos of the business, nbc, and taking a step back a way from being a family run business, if you will. of macquarieng capital, and gerry smith for bloomberg, thank you. parent company of snapchat is making its first big foray into working with outside investors, putting privacy at the software -- forefront.

as part of the relationship, snape said it won't share any personal data on users or their friends. fintechp, the european firm gives details on when the company can go public. highlights from our interview next. bloomberg, listen on the bloomberg radio app and in the u.s. on sirius xm. this is bloomberg. ♪

emily: london tech week as well underway with the biggest players in european tech in attendance. caroline hyde has been keeping

up. she joins us from london. reporter: it has been a fascinating week. a big focus has actually been talent. and the u.k. government, they announced they would offer new visas to immigrants wanting to start new businesses, in a bid to lure those deterred by brexit. funding circle, one of the biggest u.k. startups, has boosted economic activity not just in the u.k., but across europe. i spoke to the ceo about the impact his business has had. >> what we found was of the 1.7 billion pounds of loans that we did last year, that actually created 75,000 new jobs globally , 45,000 of which were in the an additional 4 billion pounds of economic value or incremental gdp.

it is really rewarding, because we talk a lot about big numbers, but to see it feeding into the economy is something we are happy about. intoter: and it will feed the economy more because you are hiring more. >> yes. not as high as 75,000 jobs, but we are hiring around 400 people this year, 200 of which will be in the u.k., mainly in technology and data analytics. is really it all, it a technology data business, analyzing huge amount of data to help connect small businesses with investors. reporter: 200 in the u.k., 200 outside. talk to us about when you are hiring talent in the brexit world, how hard is it finding the right talent to come to the united kingdom? is it easier? germany, the netherlands, the u.s.?

>> i would say that. if you look at the u.k., that is where funding circle started. onere one of the largest, of the larger homegrown technology companies here, so we do probably find it easier to thanbrexit or no brexit, markets like the u.s. are germany or the netherlands. we certainly haven't seen as big of an impact. for us, we still see a lot of talent wanting to work with us and try and build a better financial world. reporter: that has to be somewhat helped when the government shines a light on the ecosystem, as they have done this week. we are hearing from theresa may, saying more private capital coming into the tech sector in the u.k., more focus on visas for entrepreneurs. is this too little too late or a positive step is mark -- positive step?

>> i was at a roundtable today with the prime minister and the they took well over one hour out of their day when we know there's all sorts of brexit votes going on in the house of commons. what it reinforced for me is the deep commitment the u.k. government has to technology here. london has been one of the fastest-growing technology hubs in europe. the government in particular has been very helpful to us. bankritish business actually started lending through funding circle in 2013, plan our business was only three years old. we hearly think -- about the macron this and that i actually seeut a high level of support in the u.k. and it is great to see. reporter: macron this, macron that, the french leader, focusing on building up the french tech sector. there was some reporting coming why consultants

showing that paris is starting to steal the limelight in terms of investors thinking it is a better place to put their money. do you feel that in any way, that investors are looking to rival hubs a little more? i think you will naturally have multiple hubs across europe. probably asndon are close as san jose and san count as, which all silicon valley, silicon europe, whatever you want to call it. i do think there are a lot of advantages for london. london is a very big city. greater london has 10 million people. you have access to great universities. you have access to quite a large financial sector with all the depth of talent that is in that. while i think there will be stuff on the margins, we are certainly seeing this concentration, and this

today, a ceowas at is talking about how they have 1000 people now from all over the world, all sorts of experts in artificial intelligence congregating. once he starts to build the ecosystems, it is hard to break them. reporter: you are potentially eyeing the market at some point to go public. can you give us any update as to how that progresses? >> we have not confirmed or denied that we are going to take funding circle public. what we have said is that we do one the business to be a public business in the long run. do, weheart of what we don't actually lend money ourselves, we are a platform connected to thousands different -- thousands of different investors. that is a trust-based business. eventually, we do think being a public business with help us with brand awareness, would

great company to go public with. i cannot give you an update either way, but it is them thing we have aspirations to do. was some of my conversation with the funding circle ceo samir desai. it is really interesting that he is really still keen to go public. a must be fueled in some way of the significant uccess of the other thing tech -- fintech company going public this week. emily: right. still a long ways off from the giants of financial services. paypal crossing $100 billion market cap. how ambitious are these u.k. fintech companies? reporter: i think they are. i think they realize they are there areves,

concerns the banks have in the older players, but actually there is still so much more expansion for them. they have only gotten the tip of the iceberg. i spoke about this to samir desai. have a listen. >> it is incredibly exciting to see companies doing well, but there's a long way to go still in terms of penetration. so much morell loans to be given to the small and medium-size enterprises compared to that of the banks at the moment, so they feel they have plenty of market share in the u.k. they have a presence in the u.s., but they are beating up in germany and the netherlands as well. emily: i have to ask about this comcast bid for fox, which has new implications for the comcast potential takeover of sky. it has a new twist. sky investors could benefit, or not. reporter: it's interesting as to

whether or not this could push up the valuation, make a more fitting were for -- more of a company in for the the u.k. comcast is already putting in a bid for fox. fox already owns 39% of sky. that values sky at more than 13 pounds a share at the moment. at 1id for sky is already 2.50 pounds a share. however, it also could muddy the waters. if you've got disney and comcast fighting for fox and maybe sky, maybe they didn't decide to divide them up, maybe some take parts of fox, some take parts of sky, and decide they will not have a bidding war at all. the question is still how this will affect the value of sky. at the moment, it trades above

comcast's original bid, so many are still hoping this could drive sky ever higher. ofly: we are nearing the end london tech week. what has been a standout for you? reporter: i think the standout has been the commitment of the u.k. government to technology. that was a significant prize, 2.5 billion pounds from private companies. yes, it's coming from the likes japan, butce and there is a real commitment to shine a light on the sector, and for the future to go into the sector. --pite brexit picking up taking up so much of our minds here in the u k, the government talk has time to stop and about the sector and the success of it. that was a key point. there are also some great events going on. today, the bank of england head

was talking with some of the fintech successes. i think it's an interesting conversation. i think it's interesting for you women andbout inclusion as a focus. emily: glad to hear it. caroline hyde in london, thank you so much. coming up, the city of chicago is betting big on elon musk. details on the boring company's newest project the next. on twitter at tictoc. this is bloomberg. ♪

emily: elon musk's newest company has just gotten a big boost in legitimacy. we learned the boring company is the winner in a bid to build a multibillion-dollar high-speed express train to chicago's

o'hare airport. the company is trying to get ambitious transportation projects underway in l.a. and washington as well. he's betting musk, the run-up in tesla shares isn't over. he has but $25 million more of the stuff. tesla has risen about 14% since he bought $10 million worth of shares in may. -- company is cutting 3% 3000 jobs, roughly 9% of its workforce. spaceogic is building catapults. to achieve that, they had secured $40 million from top tech investors. remains tightlipped about how the contraption will work, although the name a giveaway the basic idea. coming up, the debate around artificial intelligence continues to be around big tech and startups, while industries

like banking spend billions to transform ai into the way they do business. will the machines without? we will discuss -- will the machines win out? we will discuss, next. ♪

emily: this is bloomberg technology. i'm emily chang in san francisco. amazon has been using robots and warehouses for years. companies using automation to transfor white-collar jobs. under an initiative called hands off the wheel, the company shifted tasks like forecasting and ordering inventory and prices to algorithms highlighting how ai has transformed our world and our workforce. joining us for more reaction, we are joined by cohead of tech

investment banking at rbc capital markets. thank you for joining us. how transformative do you think this application of ai at amazon can be? >> thanks, emily. concept of ai has been around for some time. we continue to see evolutions and iterations of it. these technologies are enhanced by the next get of machine learning and are used to help automate every aspect of our world today. when amazon is doing is taking it to the next level. you have automation and what impact they have, but i do view that we will continue to see applications across the board. emily: could this transform amazon's business? michal: i think it will make amazon's business more efficient. that, intechnologies essence, take away some of the repetitive and monotonous tasks that people have been keeping their heads down and doing.

they can use that time to advance customer service or other advanced, higher-level applications. emily: when you look at amazon, google, facebook, all these companies have major artificial intelligence initiatives. which is the most compelling? michal: it is interesting. i think when i look at artificial intelligence broadly being used to advance -- i'm mark crumpton. it we enter a bloomberg technology a special report. christopher wray's is about to address reporters, responding to the report released today by the department of justice about former director james comey's handling of the hillary clinton email investigation. the director at the fbi headquarters in washington. i appreciate the

inspector general's work on this important review. i thought i would take a few minutes to talk about the report and i'm happy to take a few questions. the fbi's mission is to protect the american people and the full the constitution. but to carry out that mission, we are entrusted with a lot of authority. our actions are subject to close courts,t from the elected leaders, and independent entities. that is how it should be. that courts, elected leaders, and independent kind of examination, that kind of oversight makes the f ei stronger as an organization and makes the public more safe. meh that in mind, let briefly address the findings in the inspector general's report. kind of examination, that kind of oversight makes thei tad we accept the findings and recommendations. it is also important to note what the inspector general did not find. find anyrt did not

evidence of political bias or improper considerations find acy impacting the investigation under review. identify errors orjudgment, violations of even disregard for policy and decisions that, at the very least, with the benefit of hindsight, were not the best choices. have already started taking the necessary steps to address those issues. first, we will hold employees accountable for any potential misconduct. conductalready referred highlighted in the report to our disciplinary arm. opr, the fbi's independent office of professional responsibility. we need to hold ourselves accountable for the choices we make and the work we do. but indoing that fairly,

the way that people should expect. we are going to a here to the appropriate disciplinary process. complete,process is we won't hesitate to hold people accountable for their actions. second, we are going to make eie that every effort employee understands the lessons of this report. because change starts at the top , it starts with ei employee understands the lessons of this me, i'm going to require all of our senior executives from all around the world to convene for in-depth training, specifically focused on learning the lessons that we should learn from this report. are going to train every single fbi employee, both new hires and veterans alike on what wrong so that these

mistakes will never be repeated. third, i'm going to make sure we have the policies, procedures, and training that are needed for everyone to understand and remember what is expected of all of us. that includes drilling home the importance of objectivity. of avoiding even the appearance of personal conflicts or political bias in our work. ensuring that refusals are handled collectively and effectively. making all of our employees fully aware of our new policy on and makingcts painfully clear that we will not tolerate noncompliance. ensuring that would follow all , public statements about uncharged conduct and ongoing investigations. employeesng that our it here to all policies and

about the use of fbi systems, networks, and devices. i have also directed our associate deputy director to lead a review of how the f ei handles sensitive investigations. and to make recommendations about how those should be , so thatstructured ievery sensitive investigation s conducted to the work with eachs conducted to the fbi's highest standards. we will work with the department to areas. the report makes clear that we have work to do. let's also be clear on the scope of this report. it is focused on a specific set of events back in 2016 and a small number of fbi employees connected to those events. in paeans this report

the integrity of our workforce the whole -- impugns integrity of our workforce as a whole or the fbi as an institution. appropriate accountability is crucial. we will learn from this report. we will be better and stronger as a result. i also want to be clear about the fbi that i see. the past 10 months, i've been able to visit over 30 fbi field country and a the bunch of other offices overseas. i have visited with folks from every division and country head. office after office, meeting after meeting, i see extraordinary people doing extraordinary work. again and again, i hear remarkable stories. frankly, inspiring stories about the work the men and women of the fbi are doing to detect the

american people and uphold the constitution. just in the past several months, we have disrupted terrorist attacks from the fishermen's work in san francisco to a crowded shopping mall in miami. a ring ofwe charged iranian state-sponsored hackers with stealing terabytes of data from scores of american companies, universities, and government agencies. in austin, we deployed more than 600ndred of our people -- of our people to assist in the package bombing investigations. we have rescued kids from child predators. some of them as young as seven months old. than 4600rested more gang members, violent gang members in just the past several months. our fbi lab has closed thousands of cases through fingerprint analysis.nd dna

hashostage rescue team deployed something like 27 different times on missions around the country. i could go on and on. the fbi's men and women are theg all that work with unfailing fidelity to the constitution and the laws that it demands. the bravery that it calls for. and the integrity the american people has deployed something like 27 different times on missions around the country. rightly expect. as fbi director, i am laser focused on ensuring that our folks get to continue that great work and do it with the fidelity , bravery, and integrity that we have always had. as i have been saying since as far back as my confirmation inring, i am a huge believer the importance of process. book in this job by the every respect and i expect all of our employees to do the same. i have tried to emphasize that

at every opportunity. from my view, the fbi's brand is based less on the many successes than it is on the way in which we have earned those successes. rules, following the law, following the guidelines. staying faithful to our core values and best traditions. making sure we are doing the right thing and doing it in the right way. treating everybody with respect. the facts independently and objectively, no matter who likes it. best way.e that, in my view, is the only way to maintain trust and credibility with the people we serve. i appreciate this chance to respond to the ig's report. i refer you to more detail in the written response. i am happy to take a few questions.

>> anything singled out and the report? what are you referring to? director wray: i cannot comment on any specific personnel matter. the conduct highlighted, they have been referred to the disciplinary arm. the opr. there is a process. it is a tough and rigorous process. we expect that process to be followed. when that process is complete, we will hold people accountable. >> [indiscernible] director wray: again, i'm not going to talk about any

particular personnel matter because i don't think that would be appropriate. i'm committed to doing the right thing in the right way. includeook does not talking about pending personnel matters with all of you, much as you might like to ask me that. you said there's nothing in the report that impugns the integrity of the service as a whole but the report says there is a culture of leaking. do you disagree with that finding? what do you plan to do about it? director wray: we accept the findings of the report and the recommendations. --have done number of things a number of things on that regard. we have a media policy that is much tractor and much more clear ter and much more clear than what it was before. we will have training on things like what you alluded to that

includes contacts with the media. we will make painfully clear that we won't tolerate noncompliance. opr tot, i have asked take a look at whether they think the penalties that exist right now are sufficient to deal with that. i want to ask about the reputation of the fbi. in the fbi has taken a lot of hits from the president. he's talked about investigations, members of congress that have hit at you guys. and this report taking issues with the fbi. people been hearing that are worried that the reputation of the fbi has suffered as a result. do you think that is the case? fixwhat do you do to try to the perception the public may have? director wray: that is a subject

that is near and dear to me. there is no shortage of opinions about us out there. i will tell you that the opinions that i care most about are the opinions of the people that really know us and know us through our work. what the jury's think, what the agents think. what the judges think when we give them a search warrant. when victims and families think when they ask who you trust to get your child back. i am focused on what the state and local law enforcement partners. it to me, it is the work that matters. i look at things like that. i look at how recruiting and retention is doing. recruiting, we get 12,000 plus people trying to be special agents every year. our admission rate, our selection rate is 5%.

that is better than the admission rate at harvard, yale, princeton, or stanford. we just hired a new crowd of honors interns. that is better than the admissionpeople that have lots s about what they want to do with their careers. we have the highest number of have had from the honors in turn program. cash in tur-- have had from the honors in turn program. intern program. people express to their actions. i look at our attrition rate. it is 0.8%. the views that matter, the opinions that matter, the views of the people that know us through our work. when i talk to the partners, victims, and people who know us, our brand is doing just fine there. >> if you could sum up your inction and having read it one word, what is that were?

how would you describe your emotional reaction to it? director wray: disappointed. >> [indiscernible] director wray: not that i can think of. [indiscernible] director wray: well, on the first point, i'm not going to speak for the office of special counsel. i would note that there are a number of things that we have done, both in terms of referring people to opr and also in terms of reassigning people to try to ensure that we are bringing the

right kind of integrity to staffing and all sensitive investigations. as to the congressional question, my view is that we have an obligation to be responsive to legitimate congressional oversight. it's part of our job. we are entrusted with enormous power. questionsexpect tough and we need to be responsive and cooperate with that. we also have an obligation to protect sources, methods, and not compromise on ongoing criminal investigations. to it here to things like grand jury secrecy. the challenge is to make sure we do both. i think we have struck the right balance so far. [indiscernible] [indiscernible]

he has attacked the credibility of the fbi. do you think this report validates his criticism? director wray: i'm not going to comment on any person's opinion. i will talk about the opinions that i think matter. the opinions of the people that are relevant to our work day in and day out across this country. have 37,000 fbi employees. agents, analysts, staff, scores of task force officers that work with them. day, those people are having to make important decisions that protect lives. the opinions of people they have to engage with, those are the opinions that matter to me and that is what i focus on. as far as the report goes, there are some sobering lessons in there. we will learn those lessons and act on those lessons. that is what made the fbi stronger.

>> those acting in good faith, meetings and various things that have come out. director wray: i think congress has a job to do and i think we have a job to do. there trying to work to various issues presented by the tensions of congressional oversight and protection of methods, tradecraft, and things like that. we are committed to trywe are ck

through those things with congress. >> i know you don't wantwe are k through those things with congress. >> i know you don't want to identify the people that were involved or have been referred to opr. can you tell us how many have the lessons are, the importance of trying to make sure that we avoid even the appearance of bias in all of our work. that objectivity and the appearance of objectivity matters. there are lists about contact with the media and appropriate engagement with all of you. that unless his about the appropriate uses of devices. there are nine recommendations at the end and i think those are the lessons we're trying to learn from this report. we take it seriously and we accept the findings and the recommendations. thank you. christopher wray

discussing the report by the justice department inspector general's office on the clinton email investigation. director wray said he was disappointed by the findings and said we take this report seriously. he pointed out that the report did not find any evidence of clinical bias or political ,onsiderations but he added "we've got some work to do." think you for joining us and let's rejoin bloomberg technology already in progress. >> they took it from a hair removal product. a repurposed a laser so they could come up with it pretty cheaply. how efficient is it given that you still need officers to catch these people, essentially? is that werategy

don't have to do it all. you don't need automated robots to catch people. in tough terrain like this where it takes a few miles and you have a number of miles to go to the next highway, there is time to give a few hours to border patrol people or take a helicopter to hire. they see the border is a way to open up getting contracts to what they call battlefields of the future. theirthey ultimate goal is to sl to the department of defense and become a defense company using technology. emily: i would be remiss if i did not mention the stories of hundreds of migrant children in the holding centers that have been ripped away from their family as part of this new trump immigration policy to prosecute border crossers as separate them from their children. where are the families and all of this? >> the families are not part of

the thought process. what thefulfilling government wants it done. they are not getting involved in the politics. what we have learned over the and and a earlier is that technology is politics. as much as anduril considers themselves patriots doing work for the government, you can't do this without dealing in some way with the implications of your technology. emily: we have to talk about palmer lucky and his political views, antithetical to what most of silicon valley preaches. the midst ofook in a lot of controversy after mark zuckerberg bought his company for $2 billion. more about him. this company is only a year old.

talk to us about what is next. >> palmer is a very interesting figure. he's 25 years old. he started oculus as a teenager and was bought for a huge amount of money by facebook. maybe it was less of a politics thing. facebook consists they did not fire him because of his politics. talk to us about what is next. he just wasn't a match. facebook has a lot of people that come from ivy league schools. of palmer was homeschooled and int to community college southern california. mightthink the politics have been a factor. but i believe mark zuckerberg. ofis an upfront supporter the republican party. he told me that he's not a member of the alt-right. a book on are writing facebook and i just got back from e3, the biggest videogame conference in the world.

facebook had a presence there, but we were asking if the are was dead. -- vr was dead. oculus aok buying mistake? bought oculus for a ten-year vision. ritual reality might be the platform of the future. mark zuckerberg still believes that could be the case. doesn't work out that way, i don't think he's going to regret it. their strategy is to make sure that they are not cut off by a new paradigm coming along. game.t being ahead of the maybe it's blockchain. it facebook is now working on blockchain.

thehing that looms as possible next platform, facebook is going to be there. leavy,wired, stephen thank you. that does it for this edition of "bloomberg technology." that is all for now. this is bloomberg. ♪