♪ carol: carol: welcome to "bloomberg businessweek." i'm carol massar. jason: we're headed inside bloomberg headquarters in new york. carol: it is all about cities, including some home prices, great for some and not for others. we take a look at affordable housing. jason: and the world's first 5g broadband network is going to bring everything to your phone a lot faster. they may transform the places you live.

carol: all of that coming up and more as we take you to this very special edition of bloomberg businessweek. jason: we begin with one city busy this week. congress is back from summer break. hearings on everything from social media to a supreme court nominee. carol: steven dennis joins us to wrap up the week. let's start with those hearings of brett kavanaugh. steven: a lot of fireworks inside the hearing room. democrats trying to bore in on the question of whether he would overturn roe versus wade and give the president a pass when it comes to subpoenas on things like the mueller investigation. a lot of protesters interesting -- interrupting with cries about abortion or health care or other hot topic issues. kavanaugh kept his cool. he did not really answer the

questions. unlike a lot of supreme court nominees before him, he would not rule out or rule in overturning roe versus wade, the key abortion decision hanging over all of these proceedings. it is the reason why you have people dressed in "handmaid's tale" protesting outside the hearing room. the democrats are upset there have been millions of documents that have been kept from the public. they are threatening to release some of them. you have a lot of fights, but it does not necessarily mean he is in trouble for confirmation. no republican has come out against him. carol: it is not just one set of important hearings but another set of hearings involving jack dorsey of twitter and sheryl sandberg, coo at facebook. google officials were missing in washington.

but they were answering questions about bias posts on social media and meddling in the election. what is our takeaway? steven: these companies still have a huge amount of work to do. it is not clear they have a handle on these problems. they have both kind of admitted that, especially dorsey. he does not have the resources of facebook, which is hiring 20,000 people to work on security. that is more than twitter has in total employees. dorsey kept saying we need to write better algorithms to catch abuse. he got kind of embarrassed by lawmakers who were able to pull up tweets in real-time showing people trying to sell cocaine and other drugs on his service.

he had to do a lot of apologizing. it is going to be hard for twitter to scale up some of their solutions. twitter stock took a hit. jack dorsey was talking about massive shifts in how twitter operates and their incentives and business structure. he did not really get into too much detail as to how that was going to work. jason: we have to ask you about the drama at the other end of pennsylvania avenue. bob woodward's book leaked earlier in the week. there was an anonymous op-ed in the "new york times." what effect has that had on the white house? steven: the hits keep on coming for president trump, whether it be the omarosa book, the john mccain week, all of his

colleagues laying subtle and not-so-subtle attacks on the president, then this op-ed from someone inside his own administration saying they are part of a resistance to the president. you have seen the president lash out in public and on twitter. he attacked jeff sessions on sunday for having his department indict two republicans. there has been a backlash on capitol hill against jeff sessions. it has been a perfect storm for the president. it seems like every week, we are getting more of this and coming closer to some kind of cataclysm, it seems. it does not feel like we are in anything close to stability before the election. jason: let us get into this special issue of "bloomberg

businessweek." it is all about cities. cities have to sell problems first to live up to their economic potential, pollution, noise, housing. carol: so many problems and that is just a few of them. we check in with our editor for the thinking behind the story. max: our framework was the future, the sooner than you think cities issue, the framework we use to think about technology and where things are going. what i ended up focusing on was the idea that cities are really important. that is something everybody knows and we talk about their are these megacities growing really fast, economically. cities are grabbing ever greater shares, shares of population. that is creating all of these problems that are going to have to be managed. that is what gave the issue shape initially. you have these tech hubs all around the world.

then there is this problem on top of that, which is housing. as these places grow, people cannot afford to live there. that is creating all sorts of interesting issues that are political and can slow down economic growth and hold these places back. we looked at that from two different ways. one is an essay that argues that a lot of these housing issues can be solved with political work. the second story is about seattle and the tech industry, particularly amazon. jason: that story is in part due to the framing you described. every mayor in every city in america had a plan for hq2. it is a sweepstakes of a lifetime or is perceived to be as such. deena lives in this neighborhood that has been utterly

transformed by amazon, and not just by amazon, but by a billionaire, paul allen. max: i followed the tech industry very closely and i did not know there was this neighborhood, south lake union, north of downtown. there is the regular downtown. i did not know how dramatic the change had been. this story started as a moody report about what things were like there. then, this other thing was going on which was, you have all of these mayors going to this neighborhood to check it out. it has become a developers valhalla. everyone wants to be like

seattle. the truth is that people who live there are not so sure. seattle is in this moment where it is at the height of its power, but there are all these questions. we decided to look at that. that paired with the essay about how to fix these things give us an interesting picture of how technology is changing cities and what the solutions are. jason: we have to talk about miami because that story is terrifying. terrifying is the only word that captures it. i have to think miami is not the only city experiencing these issues around climate change, but not the obvious ones. max: everybody thinks climate change is going to come from rising sea levels, and washing homes away. but the water is coming from below in miami. that is creating all sorts of genuinely terrifying problems that could put miami's drinking water at risk.

this story was originally a photo essay. we thought chris was going to work with the photographer and take beautiful pictures of water in miami. then, chris delivered a spectacular first draft that was edited and it is an amazing read, like a horror story, about the future. it points out the ways of this stuff can be fixed. as scary as this is for miami, it can be addressed, it would just be wildly expensive. jason: we turn to china where one city in china is dealing with congestion and a quiet environment all of a sudden. carol: of course you of heard of turning a no to yes to solve the affordable housing problem. jason: this is "bloomberg businessweek." ♪ carol: welcome back.

♪ carol: welcome back. jason: you can also find us online. carol: and on the mobile app. jason: we just heard about this story on miami. it was a big highlight, scary. carol: it talks about how water could swallow a quarter of miami by the end of the century. but there is a more immediate threat. jason: drinking water. chris: climate change is threatening one particular part of the miami infrastructure, and ability to provide drinking water to its population. if you lose that access to cheap drinking water, it is a real problem. you have expensive solutions, or you start to lose people.

the story looks at where those threats are coming from and what the answers might be. jason: everyone has this glamorous view of miami, whether it is south beach or the gleaming towers or miami vice. i am dating myself. you saw a very different side of miami. take us there. tell us what you saw. christopher: miami is a great town and those parts are real. but they are supported by an infrastructure of water in terms of providing water, moving water off the surface, that occurs out of sight. it is that infrastructure that is being tested and threatened by climate change. i took a trip with the number two at the county water and sewer department. his job is to think of what these threats are and how to deal with them. he took me to the systems that clean this water and pumping underground, and right where the

everglades begin, i visited something called the northwest wellfield. as saltwater moves in through the aquifer, that saltwater will stay clean and fresh the longest. they wanted to show me they are aware of these threats and working on them. some of them do not have good answers. they do not know how long it will take for these climate threats to really push their drinking water supply. they have to plan for a tough timeline. the reason it is hard is the money involved is enormous, you're talking billions and billions of dollars to protect their infrastructure or build new infrastructure. when do they start trying to pay the cost of these upgrades, not knowing how soon these threats will hit? it is a dilemma cities will face but miami will hit that dilemma sooner than most.

carol: that is being impacted by climate change. you talk about specific things. you talk about a superfund site, the toxins leaking in. talk to us about that. you also talk about the rock lake and mining and feces. jason: you took my line. carol: sorry. chris: in 2014, epa put out a report saying of all the threats, one threat is that superfund sites and other industrial sites, as they have more flooding, some of those toxins held in the soil could escape from where they are held into the groundwater. miami is especially vulnerable, because you have a dozen or so superfund sites, much more

industrial the on that and you have got that very shallow groundwater. the concern in miami is that as flooding gets worse in terms of intensity and frequency, you could have more events where these toxins get pushed into the aquifer and tax the infrastructure to try and clean those toxins out of drinking water. i spoke with gina mccarthy and she said citizens in miami have to worry about this because you don't know whether climate change will increase the threat and how quickly. these are things of its cities struggle with. funding for water infrastructure is really expensive. there is less state and federal help than there used to be. you have got this financial pressure and this climate pressure that means you have to spend more even as funding goes down. jason: throughout this issue, we dispatch reporters to look at what the cities of tomorrow may look like. carol: we do this often just by listening.

we talked about shenzhen and how it is getting a lot cleaner and quieter. >> we are seeing the arrival of electric buses, the first kind of technology taking noise out of a city environment. you would not hear a pin drop. it is a huge city with 20 million people and construction. imagine taking all of the sound out of the cars in new york and get the experience of what it is like. that is missing from the audio fabric of the city. carol: take us back to 1980, because i feel like that is where things began in terms of the development. aaron: this is not ancient history when you go back to the pre-automotive time. it was a collection of fishing villages and it was the creation of the first special economic stone.

it happened because of its proximity to hong kong. that was when hong kong was controlled by the british. use all over the space of a few years, the arrival of all kinds of modern infrastructure and transportation turn what was basically fishing villages into this huge megacity, where there is now 20 million people. the structure of the city is centered around this old village structure. a lot of people don't have cars, and it made it one of the user places for china to transform this way. jason: china transformed at a rate that is hard to imagine for the rest of the world. how did they make this pivot from electric to combustion? aaron: it was motivated by how terrible the pollution conditions were.

they created incentives to save themselves from the smog for consumers to buy electric vehicles and they used the state to push the transition forward. we have done research. they are tracking the adoption of electric buses which is one of the main things that has changed. china accounts for 99% as of 2017 of all of the world's electric buses. a company in shenzhen is a leading manufacturer, as well as the leading manufacturer of plug-in vehicles. carol: warren buffett has invested in them. they are a big player. aaron: they are huge in china. they are the manufacturer of these buses, five years ago, were treated as something of a

laughingstock, but are now transforming how people in china get around. every five weeks, they make about 9500 new electric buses, the size of the entire bus fleet of the city of london. you would be hard-pressed to find their stuff outside of china now, but they are using the support of the chinese government, and there is so much support for these vehicles in china as a way to internationalize. jason: coming up, cities that experience lots of growth, run into a lot of problems. one of them, housing. carol: there are ways to get home prices under control.

♪ jason: welcome back. i am jason kelly. carol: i'm carol massar. you can listen to us on the radio, sirius xm channel 119, in new york, boston, washington,

d.c. cities are great unless you are trying to find affordable housing. jason: it is one of the biggest problems that mayors and governors and heads of countries face. there are solutions out there. >> why is our housing crisis so incredibly expensive? the very places that most need new talent because they are engines of creativity for the u.s. and the world. why? there is not enough housing. everybody wants to live there. the solution is obvious, build more housing. there are all kinds of rules that restrict that from happening and those tend to be put in place by the people already there and they lack the incentive to change the rules,

because if there is more demand, they are going to be able to sell more. they benefit at the expense of everyone else. that includes local employers, that are starved for talent, and people from all over the rest of the country, even their children, who would like to live there and benefit from that engine of growth. jason: you have some pretty staggering statistics about the cost of living in some of these places, starting in silicon valley. this is a two bedroom, one bathroom, detached one car garage, no air-conditioning. 880 square feet. $1.575 million is the asking price. peter: if you are watching from silicon valley, you are thinking, what is the big deal? jason: what are the economic implications? you are the master of the ripple

effect. what happens in a place like silicon valley specifically when a house like that costs that much? peter: companies have to pay more to attract people so they do not go work in austin or someplace like that instead. that means they cannot afford to hire as many people. there are fewer opportunities for workers. it also inhibits their growth, to some extent. who wins? not the shareholders of facebook and google -- jason: it is whoever is selling that house. peter: it is a massive transfer of wealth to people who just happened to buy before the boom. carol: why are not municipalities pushing back a little bit and saying we need to do development? peter: some are. it tends to be the ones that

manage to get enlightened voters who see the upside outweighs the downside. i talked to the mayor of the heart of silicon valley. last december, he was vice mayor. mountain view put through a plan to build up to 10,000 units of housing right around the world headquarters of google, where it is very badly needed. it is not a residential area, or has not been until now. you do not have local saying, i do not want more housing in my neighborhood. they are happy to have it there because it is not in their backyard. google wins, the new people win and the locals don't lose. jason: one place where housing has become an issue in seattle. there is a lot of talk about the amazon second headquarters. we go to seattle to see how they dealt with the first one. carol: and south korea's seamlessly networked city.

this is "bloomberg ♪

♪ jason: welcome back to bloomberg businessweek. carol: still ahead in this week's special issue, much more of course on cities and the changes they could undergo in a 5g universe. jason: plus, traditional dresses are such last century. -- traditional addresses our last century. carol: amazon topping a $1 trillion market cap, only the second company to do so. that $1aylor riggs,

trillion mark is just one of the metrics that sums up the rise of amazon. taylor: we have a chart show all of this and how cool it really is. all about topping that $1 trillion mark here. apple was the first u.s. company to do that. it took been a pretty long time to get to that last $200 billion. amazon did not take them as long to do it. only a few months, crossing that $1 trillion mark on tuesday of last week. around that,t waiting for it to close above that $1 trillion mark. jason: amazon as most people know has also made its mark on seattle. occupying 8.1 million square feet in the city. this has really changed the rental market. taylor: it has and we have another chart. the effect it had on the price of square foot, as far as retail and commercial industries, one of the cities is like union area. as you can see, it is now more than $55 per square foot.

relative to some of the other central business districts are around the $45-50 five dollar mark. the amazon affect coming and everywhere this time with the retail space. carol: taylor, thank you so much. amazon and jeff bezos have of course done much of a change in seattle but what you probably don't know is that the other billionaire who helped build that section of the city. that is where our cities issue picks up front. jason: she lived in the neighborhood. she explains why neighbors are clamoring for amazon's second headquarters and why they should be careful what they wish for. >> seattle isn't in a really interesting moment right now. we've undergone massive growth in the last decade, more than 100,000 people have moved here. we are the fastest-growing big city in the u.s. and seattle in many ways seems to be at the height of its power and prominence area when amazon went we had asked for bids,

these real estate economic development forests -- tourists all crowding into south lake union to see how they could reporters at. -- reproduce it. seattle is also in a deeply uncomfortable moment. in the last couple of months in particular, many different situations have exploded into a lot of anger and angst about the growth of who it is leaving behind, what it is doing to the housing affordability and homelessness. i and my cowriter tried to look at these sort of trade-offs and what is going on in our home city. jason: and you have lived in this area -- you have lived around the corner for some time. you have seen it up close and personal. what has that transformation been like in that neighborhood? moved here in 1999 and what we looked at in particular because it's really the focal point of all the growth, is the neighborhood called south lake

union. it was built up by microsoft cofounder as a real estate company. it is largely inhabited by amazon but also a lot of google buildings, facebook. some medical facilities. when i moved here in 1999, this was a really out-of-state neighborhood. nobody went there, even though it was right near downtown. it had been a light industrial area. fort buil -- ford buitl there. it had basically become a pedestrian-free area of warehouses and floral supply. laundromats, things like that. even though it was right downtown, people did not go there. and felt like a different world. even if you went there, you did not walk because it was pedestrian unfriendly. and that has completely changed. when you walk through right now, it is full of mainly tech

workers holding their hand- brewed coffee. it's full of office buildings, whole foods, a bunch of trendy restaurants and craft cocktail emporiums. it's very different. carol: today, amazon has a .1 million square feet, which is pretty amazing. sure.r >> we talk about what it has done to the city, it has brought in $200 million in tax revenue. that has caused a lot of disruption because you build up a neighborhood and you only build about 10,000 housing units. so they have gone into these outlying neighborhoods and we has hadut the impact it on one particular neighborhood, the central district which is seattle's historically black neighborhood where paul allen is now building a massive apartment and retail complex in a way that

the neighborhood is finding very disruptive and very disturbing. it's a neighborhood that is already, in terms of black population, below 20%. you see alan mounting this next ad and moving it as residential and many other residents are not happy about what it might be doing to their neighborhood. jason: what is the lesson for all the cities scrambling for hq2, this development. was this lightning in a bottle caught my two billionaires by accident? what should people take away from what they can do to make amazon happy? dina: what folks in seattle would say people should take away from this kind of rapid expansion is to try to be a little more planful. we spoke to greg nickels who actually came up with a lot of the policies that enable this and he said looking back it would have been better for the city if the growth had been a

little slower and if there had been better planning. and you see as amazon is looking proposals, they have asked cities what they will do about traffic and housing. amazon is looking for not having a repeat of the negative consequences of the lightning in a bottle. the massive impact of technology on cities can be seen around the globe and i don't think you can talk about china or the growth of china and technology without mentioning the founder and executive chairman of alibaba. jason: we got an intimate and exclusive sit down. this is a guy who went from being an english teacher to a billionaire. one of the most influential voices in technology and business anywhere. he has set his sights on philanthropy now. >> alibaba, so many talents. 600 million people using us every month.

not put thosedo kind of respect, responsibility into our business model, this giant alibaba could destroy a lot of things. we could do things -- do good things or do bad things. technology is very cold but you have to make the organization warm. people are warm. >> are you succeeding? shouldears ago i said we put 0.3% of the total revenue of intoy bother -- alibaba protecting environment and education. 0.3%. they said go ahead. now, we have such a big revenue. and they say, we have to do this. not 0.3% of the profit, it's the revenue. >> in terms of technology, how

do you bring that to play in your vision for transforming education? >> everything, we talk with students in the past 100 years is knowledge, science, industry. but in the future, what we teach the kids is about innovation, creativity, construction. how can you do things that a machine cannot do? that is about education. i'm thinking of the time about that. >> that would be a big focus for you. a teacher and a mentor to many young ungenerous. i don't, self a successful businesspeople but i am very successful on life. i have gone through a lot of tough decisions, tough days. these can be very good for many young people. i'm not going to teach math or english, or business. but i'm going to teach young people how to face challenges. >> when you communicate with

your counterparts in the west, can that bridge divides? >> i hope so, and i think it will. there's one thing we have in common. people in china, people in america, we both have the heart of love and respect and trust. this is the common language we should have read the first causedogy, revolution world war i, the second cause world war ii. now we have the third. what happens? we should not have war but if there is a war, the war should fight against poverty, disease, environment. it should be together. we should find the common things , that would build up the trust. it's easy to complain. it's easy to finger point. this is the problem. together, it's the

opportunity for all of us. and that is something that i hope i can do. ahead, we had over to europe where a game changing company is telling us to forget about addresses. carol: and coming up, we know there are things you don't like about living in cities but we are on it. jason: this is bloomberg businessweek. ♪

♪ jason: welcome back to bloomberg businessweek. carol: you can also find us online at business week.com. jason: as we have seen throughout the issues, cities are laboratories for all sorts of innovation. carol: and some of it involves technology and some is just about common sense. jason: we turn to two stories. the first is about nuisances everyone is familiar with. >> garbage is a big one. garbage takes up a lot of space.

in the think about united states and in new york city, it takes up space, it attracts rodents. it is smelly, it's really bad in every single way. there are some cities that have been doing very innovative things with the way they are dealing with trash collections and how they are putting it underground, creating smart systems that are connected to these very large fence underneath the surface with a smaller vents all connected with technology that tells them are the bins full? what are the traffic patterns at what time of day so the garbage trucks can go at a time when it's not busy? this is big in portugal. carol: all i could think of is walt disney. it's so disney-esque where you never see it. >> doesn't that sound fantastic? jason: especially during august in new york where the smell can only be described -- >> overpowering. the company that did it in portugal, a little bit has been

doing work in israel. several cities in israel have a system. a couple of smaller cities in the u.s.. lebanon, just this summer with a different company, introduced a very similar system. it's a very smart way. again, there's a space issue and a cleanliness issue, a smell issue. is, how can we save money based on what are they full? when does it need to be connected? when is the best time to have these big trucks come? jason: can we talk about a couple of other things? one is a street fighting. >> braws. jason: and being in public. . peeing in public. >> they have a lot of brawls, police being called in often. there was research they were drawing on that showed s cents can have a very common -- calming affect on people. a, it i think of it like

smells like oranges, i'm not going to punch you. piping the basically smell into this district and it has reduced the public brawls tremendously. they are really looking at -- it's been a test. , i'm hoping that as a city it has done a lot of innovative things. in the u k, there was a particular tunnel that was very prone to vandalism and the vandalism included public urination, one of the people quoted in the story said it was like a public toilet. it sounds very unpleasant. and music was piped into this tunnel. carol: any music? >> certain types of music are more effective than others i think. jason: more effective at convincing you not to public a year and it -- publicly urinate. >> these are the kinds of things mexico city, the most congested city in the world, they are at

the beginning of an effort. but it's meaningful. they introduced double-decker buses on one of the most busy avenues. down on the number of buses, increases the number of people on that one bus and it's really helping to bring down the co2 emissions. those were really -- in some respects, very simple. it is liker respects oh, we have classical music, that would take away the urge. carol: moving from problems of public urination to a city that talks with so. jason: she is talking about 5g and how it can bring people, institutions, machines altogether seamlessly. >> we have all been hearing about 5g for ever. as you know, our big year ahead is coming in the fall and every year when we talk to our analysts it is like, 5g is coming! what is that? 15 ration network conductivity like we have never seen. superfast.

so, an open-air research lab, south korea is saying this is going to be the first 5g city. they are in the process of building the network and it will be fully operational by the end going too that 5g is basically do everything in that city. and it's going to enable more communication between electric vehicle that are being developed to travel within, it's going to help the delivery of various services like medical or emergency services. it will help various other things that aren't may be as dire. we need to figure out how to respond to this huge fire. this is all because of the quality of the video will be much prettier. carol: drones? >> basically seeing everything with such detail that you will be able to make a much better, smarter assessment about how to respond. carol: jason: even doing remote

surgery, apparently. >> they think medical services are going to be transformed by this. we see a little bit of that, not in terms of surgery, but we certainly have a little bit that we have heard about and covered in our magazine about the way that smart and artificial intelligence is helping us. what it does seem while that you might be able to have a medical professional in a hospital who is using 5g technology and there will be a setup somewhere that enable them to operate remotely. it sounds crazy. carol: or visiting a doctor without really leaving. >> exactly. they are pushing the envelope. i think we are at the point of really see in, after many years of this promise of img, we are finally getting their. jason: coming up, a london-based startup has comes up with an address system that no driver can mess up. carol: this is bloomberg businessweek. ♪

♪ carol: welcome back to bloomberg businessweek. jason: you can also listen to us on the radio on sirius xm channel 119. 106.1 and boston. carol: and am 960 in the bay area and london on digital. jason: what portland's and the future of cities. carol: they grow and evolve, especially in emerging markets. the things that we took for granted don't necessarily work anymore. jason: like addresswa. a single house and number don't cut it anymore. they are looking for ways to solve the problem. carol: reporter david mavs it out. >> tell us what they are doing. >> absolutely. what they have done is they have divided the world into 57 trillion. squares three meters by three meters each.

each one is about 100 square feet and they have given each a three word name. .uch as, where you guys are crazy, weird, strangely poetic names. and the way they have done this is they divide -- if you take the cube root of the 57 trillion, it's only about 30 8000, 500. 38,500. it was easy for them to get rid of curse words and homonyms such as hear and here. words like that, they got word of those and they still had probably 50,000 inches from. -- 50,000 to choose from. they combined these pretty much randomly to give each place on earth and address. >> so the idea -- part of the

problem that it's solving other than convenience for people like carembulances and health and other forms of health care >> -->> there are areas around the globe that don't have personal addresses. >> here, i'm in berlin. you guys are in new york city. it's easy to find you. but if you are living outside rio de janeiro or on the outskirts of johannesburg or somewhere in mumbai or somewhere like that, those people, you've got tens of thousands of people living in areas where there really aren't streets, there aren't addresses. how do you find those people? for emergency services, for health care, for ambulances, or for delivering stuff to them that they might order online? which is probably what we are really talking about. it? howso, who is using

much is it being taken up so far? >> it's just gaining traction. the company is four or five years old. just kind ofreally picking up speed. they got a deal with the maker of mercedes. they want 10% of the company earlier this year and so you can of it with some but not all their cars but within a year or two it will be in every mercedes car. you can say hey, mercedes, take me to what three words. and it works pretty well. has ad it out and it little bit of trouble understanding my american accent that's maybe just me. it?n: and tom-tom is using the postal services of a countries are using it including mongolia, nigeria, various places.

some big countries and obviously developing countries but the places. domino's pizza will deliver your pizza in st. maarten and the caribbean to a three word address. carol: you do say there are other companies looking at disrupting addresses. you talk about tom-tom but they have a system earlier on that used alphanumeric codes. google has been doing something. it sounds like this is potentially where we are going in terms of addresses. like that section of the world will have that mark potentially, those three words forever. >> that is certainly what this andany wants to make happen i think it's a reasonable possibility. obviously it's a start up and it could just disappear. but i do feel like this thing has some traction. because it is not only useful. google has codes that you mentioned.

it's more of the day, or less just as functional, but it's not as whimsical, it's not as fun. -- as i hear about it was saying, and a lot of my friends who don't generally read what i write, this story has taken up. they say well, it's so cool, what is my address? carol: businessweek is available on newsstands now. jason: and on our website in their mobile app. carol: we just heard from david about simplifying addresses. have you ever talk to your navigation system? it doesn't always come out right. this new company innovated a way using three words to describe every kind of parcel on earth. i just want you to know, i want to be cool news chick. carol: jason: i will enter that in. my must read, anytime i can turn to a bureau chief out in seattle and get the real inside scoop, plus a couple billionaires plus amazon, so much to dig into.

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♪ nejra: antisocial. president trump's campaign against what he is calling unfair search and social media. how will this latest fact shape tech regulation? playing it cool. the e.c.b. supervisory board member felix hufeld says regulators are in no rush to tighten capital demand over turkey risk. we'll bring you that interview. and the clock ticks until brexit. are the chances of a no deal more likely? and what will this mean for the regulation landscape? welcome to "bloomberg markets: rules and returns." i'm nejra cehic in london. "rules and returns" is the show