-- now we have improved it across a number of dimensions. new echo show has a display.n, brighter i would be remiss without alexa auto, a new product for us. >> we have to talk about the microwave. how do you think it works and why is this a good opportunity amazon? >> it was about building a show thatdesign to you can connect just about anything to the internet to make it smarter. your radioterface on has been stuck on the interface. i will make it super easy or to cut. in addition we added dash

replenishment server so if you run low on popcorn, the microwave will some.tically reorder emily: there are so many products. are you concerned that customers will get confused or overwhelmed? >> i don't think so. one of the things we have strived for it is giving customers a lot of choice. when we offer more selection, customers are good at identifying what they wanted what they want to use. then we add on top of that, a system, let's customers to products. and that allows people to help choose. the breadth of products is a benefit for customers. emily: you unveiled a new speaker accessory to make sound. what do you think the potential is in the high-end speaker market where you do have entrenched competitors? eah, well, first of all greatsider sonos a

partner. i'm a big customer. i love them. customers are passionate about great sound around their house and the convenience they offer. ha -- sonos has integrate alexa everywhere. our products are more brats in terms of-- breadth in mainstream products. we know that sound will improve over time can we need to improve on behalf of customers and sonos does as well. you also played up your partnership with spotify. you have amazon music. have concerns about cannibalizing your own products? really do not think about it that way. what we think about is we want to give choice to customers. and the nice thing about alexa the service is open to developers of all types. spotify has been a great partner

of ours. there's millions of customers on echo and alexa. we think that is great. we are also super proud of amazon music. going to be one winner in music. the headline is that there will win itmusic service to all is not likely. there will be multiple winners. i'm sure spotify and amazon music will be on that list. amazon had first mover advantage but google home is rapidly encroaching on your territory. space where this is there are multiple competitors or will there be one competitor, or someoneoogle else, that takes a greater share? david: we really don't think that aspect. amazonot focus a lot it on competition, but instead, take a step back and say, what do customers want? focus on making great products, great services, a

great developer platform, then will come. and the fact that we have x or y market segment ofre, that is an output where we are working hard on input. excited about what customers have been able to do. there is no question that we is leading and echo in the home today. but we have to continue to work hard as we move forward. the event today was apple like. it seems it is becoming an annual affair. will we expect a see from howon's device strategy and it fits into the broader company going forward? our strategy has been the same for 12 years now. kind of founded internally we started whether first product which was kindle. is to build devices that but buildst gadgets,

devices that customers want to use integration with services cloud.the echo and alexa. an example. we are going to continue to look new opportunities, different devices and services that will delight customers. anything to announce beside the 70 products we announced today, but we are continuing to work hard and we are excited about what we can deliver to customers. emily: thanks for counting them force. 70 products. appreciate your joining us. introduces its sixth brand. how the retail company is using isure line to push even further into e-commerce. that is next. this is bloomberg. ♪

emily: over the last 46 years gap has grown from a single to a global business. and with 3300 brick-and-mortar bigger onp is betting the future of e-commerce. would be introduced its sixth brand as an online exclusive and the gap ceo compares the new men's app leisure line to a tech startup. very much a starter. almost like angel funding. it sits on a platform of all the capabilities that we have is a global apparel company,. get online, it will sit

on our platform, be exposed to fundreds of millions o visitations we have every year. it has the essence of a big corporation but launched in a way. emily: i sat down with peck to and get anhill city about old navy and athletics as well is his strategy for a full gap. comeback. we have been forthright in saying the importance of old navy in our portfolio today. at size and profitability has already brand.ed gap we know this because we have justthe research not because i want to believe it. it's still very relevant, but it brands m s old and orph. we're doing work to position gap brand. but i love every brand and our portfolio. we have been very forthright

with the investment community in what we are going to be responsible manager of a portfolio. do many things, not the least of which is to create value. emily: what about banana republic? the middle of a turnaround, what are you doing differently in what is working? re doinghat we' differently is what we have done when banana was that it best. we had a moment where we went into a bit of a tortured fashion phase for the women's products. and banana at its core, and this is from the holiday collection, flannel, the hand is beautiful, about at its core is neutrals, about amazing fabrics, incredible hand feel and versatile pieces at a slightly higher price point that are the foundation of a wardrobe. ork brand. w brand. life as we put product back in our stores, great fabrics, neutrals on trend but not tortured

we've seen the customer response overnight. when do you see banana being back, two years, three years? something we are aiming towards an always something we are going toward but i expect to see a long run of banana continue to grow and continue to grow market share. i'm really excited. what banana is at its best it is high quality,nary well made fairly priced alternative to contemporary brands. and that is when banana is really chugging along, that is what it is doing best. we have a flight suit in the assortment right now. very cute. i actually showed it to my team pilot inée a the navy and she looked amazing in it. athleta, another bright spot. get, big enough to break out of its metrics like old navy? >> eventually we will break it all out. that's something we talk about because we want people to

understand the powerhouse we happen that brent. that brand. i see nothing that will slow the brand down, honestly. be 50/50 stores online. an omni brand. our customer shop seamlessly the online business and in our stores. i'm not going to call an end in sight. this is afeel that brand that has very significant growth potential in front of us. part of what we have been struggling with, inventory issues. is that working out? when will those be completely you?d completelyy has been in line across the entire company with the exception that we took some product out of gap brand. less because we had inventory issues and more that we felt that the product was not on brent. -- on brand. we have been forthright about it. it is one of the reasons today andstores feel cleaner tigher, because there is not as much assortment but what we are missing is a little bit of sort pop.e color and theh p

we said quarter over quarter improvement. i'm looking forward to when holiday comes. we have a new president. what does next gen gap, company, appeal to and the new customer? the whole company. we're going to continue to grow our additional business at an accelerated pace. we have had excellent performance. we're going to continue to grow that business across the entire portfolio. we're adding a new brand with city.nnouncement, hill we are looking at other places where we feel that there are opportunities for us to produce a pay. not previewing a slew of i do believe iut have an opportunity to add new brands organically, doing inside or through acquisition. we're conjuring to look at acquisitions. does gap look like in five years? looks like in five years,

we have additional brands in our portfolio. we have an amazing digital thatess that may be at point it's 50% of the company or 60% of the company. we probably have the same number of stores. but different. stores that are not as big and maybe stores have more technology in them. of digitalull suit capabilities that are customer uses for their shopping, buying and fulfillment experience. and we have an exceptional omniience that is truly channel that allows the customer to engage in a high touch, low friction way. gap ceo art peck.

because of the unstable trade situation. 2017 to talk about how adding small and medium-size businesses would boost employment. there was about whether could df u.s. jobs, deliver on th e number of u.s. jobs, explain to mee is how ma how his pledge would've worked. to enable low small business in america. and we think in china we've

created 33 million jobs, so each business is online we can creat three jobs. so, we hope that we can help small business in america, we can lift an alibaba site and help them to sell to china. is one of the many u.s. businesses feeling the impact of this trade war. gap who includes old navy and athleta sources 22% of its products from china. ceo art peck says raising prices may be the only option. >> we're watching it very, very carefully. this is a trade war that is largely confined to china right now. largests not been our country of origin, all it is for many others for some time. we have moved and diversified are sourcing base. vietnam is our largest country

of origin but some things will be impacted if this continues to go that direction. we are looking at counting -- counter sourcing. other countries and we are looking and saying what is the implication. and what is the consumer going to be willing to pay at the end of the day. and that is the big issue that everyone should have as we are moving down this path is what this will this will be is a tax on the consumer. and it is just unfortunate that this is going to impact .onsumers emily: apple says it will raise prices. is that something you are looking at? >> it is something we are looking at. our job is to continue to deliver the performance of the company and i think in some cases we will have no choice but to pass the impact of these tariffs to our consumers. emily: 22 percent of your products are sourced in china. could you shift ithat? are you consider shifting that?

>> the answer is of course we are considering shifting it. apparel industry has been in a race to the bottom to find the cheapest labor rates. a lot of that ended up in bangladesh. we modestly source in bangladesh because we acquire -- we require our factories to be certified. we see continuing to downtrend china. thathere are some items china is advantage that like sweaters and some other things. we will work with our vendors to figure out what we are doing from a footprint standpoint. emily: that was gap ceo art pa ck. is somethingay gap we have been talking about with how women are underpaid across industries but what about the potential wealth gap created by stock options? turns out for women in silicon valley, the paint gap is bad, but the equity gap is worse.

favor men,ock grants and that has a big application in silicon valley where big paydays make millionaires and billionaires. thesea are the folks that become angel investors for the next generation. rebecca greenfield joins us on the details and what it means. 47 cents fornlyc 47ents every dollar. talk about the trends we are seeing in these larger pay packages awarded to women. rebecca: a huge amount of data, 180,000 employees, almost 6000 employers. i think the stats are solid showing that women are only getting 40%, 47 cents of equity for every dollar that a man is getting and that is just a huge disparity between the two. emily: is hte equity -- the

equity gap a bigger problem than phe paint gap-- the pay ga because it can widen significantly at those high numbers? is importantty, it to note it does not always day, butn the big pay it does sometimes and it makes billionaires in the next influencers. it is something that is not being considered. the gender pay gap is important and those weekly paychecks add something,s is having an outside a fact that we are not even considering to understand. this is the first time we are having data to show what it is. emily: now, you give some specific examples of women in your peak. we talked to one woman who said she was offered a job, discussed it with a man who was offered the same job at the same time. any was given more equity. she says she asked for more

equity and she was told it, no, that was standard. she took the job and then later asked more people she worked with, men, about their equity packages, and they had better once. so, she pushed back and got what she thought she deserved. but i think that is where we are seeing the problem is that when negotiating pay is already a very, located and opaque process. equity adds another level. if you're not willing to push back, you will not get what you want and sometimes for women when they do push back, they are not getting what they want. emily: another try to talk about is mis-levling. mis-leveling. startups offer jobs, they are offering a compensation packaage. ge. standardard salary and equity for that job, but what i was told happens a lot of time is that companies will offer you a job for a level that is lower

than the job you were going to do. this might have to do with the fact that startups are small and they do not tend to have h.r., but if you don't push back and say i will be doing a higher level of job. you're going to end up getting shortchanged on your equity and compensation, too. emily: we've heard some ceo's, salesforce, talk about the extensive work they are doing to make sure that pay is not a problem, but what are companies really doing about this? rebecca: like you said, a lot of companies to pay on it. i'm not sure if that includes equity audits. now the conversation needs to shift to include that, too, if it does not already. emily: rebecca greenfield, thank you for joining us. check it out in business week. eventbritelatform had a big debut on the stock exchange. the ceo tells us how they scored

so much on date one. sustainable benefits of vertical farming are undeniable but what is new tech mean for farm laborers. we will take a look at how sustainable tech is changing tomorrow's jobs. this is bloomberg. ♪

♪ emily: this is bloomberg technology, i am emily chang. eventbrite went public on the new york stock exchange raising as 68%, andh raising $230 million in its debut. we spoke to the ceo and cofounder julia hearts about the big ticket punch in wall street. julia: we have been able to talent for investors that the vast market for experiences is underserved.

receive 45% of our new event creators coming to the platform after not using a technology platform. i think that come alone, tells us that we have been able to uniquely aggregate many different types of event creators who just before eventbrite had not been served with great technology. emily: it seems like everybody is pushing into this experiences business, whether it be spotify, airbnb. how does the the committee differentiate itself? been able to be unique in that market because of our self-service approach. 95% of our event creators are able to use the service & up.selves that natural behavior allows us to continue to grow our strengths and business model. we focus on really being able to enable our creators and get to the core of the problems they are trying to solve in their businesses. i think we have been able to do that consistently time in an timeout and that has grown us in the market. we have a lot of.

competitors, so we are not devoid of competition, but we also see great opportunity to drive partnership. we have a distribution partnership with spotify helping us enable artists to sell tickets to their own shows. emily: he had done a great job building the platform, but investors always want to know what is next. how do you much sure you are not a one-stop product shop? julia: our transactional business is about 95% of our revenue today. we are really proud of the attraction would have been able to achieve in the market. that scale and efficiency of the transaction space is not easily carved out for us. when we look at our adjustable market, we see upwards of 4 billion paid tickets. we went to aggregate unprecedented numbers of tickets in our platform, because it means even creators are succeeding and we succeed when succeed. beyond that, we look at other areas where we can develop the eventbrite platform to meet these creators'needs as they

businesses.r so pushing further into problem areas and helping to grade solutions is what we're focused in addition to driving volume. emily: went easy losses narrowing, and profitability -- when do you see losses narrowing and profitable? julia: we reported our net loss in 2017 that we also reported a ibitda whichd a bi show that we had grown our skill and efficiency. we will continue to make inroads toward profitability and we have been a great stores of capital historically. we think about investing in the future to drive a positive adjusted ibitda but also adjust the growth. emily: you talk about expanding internationally and developing a

revenue stream for specific countries. can you give us some examples of where geographically would tend to do that? julia: our core countries today in the top 14 global markets still have a lot of room for us to grow. when we look at the adjustable market opportunity, we are only 74% penetrated. it gets some like me excited to pursue these opportunities whether it be in a united kingdom, germany, latin america or australia. we are also looking to areas like asia being a potential expansion opportunity. but again, in our core global markets, we still have a lot of headway to grow. emily: you talk about how you plan to add category specific capabilities and develop new revenue streams. what kind of revenue streams? julia: when we think about revenue streams, it is a length of helping event creators create new revenue streams within their own events. every event has a fixed cost

component. so the incremental revenue we can help event creators produce, whether it be things like brand marketing, promotion, sponsorship, it is high incremental margins for them. every little bit helps. emily: there are fresh reports about a secret deal with ticketmaster and scalpers, ticketmaster has pushed back on this. how do think -- what do you think about that can of behavior? how do you enjoy your own transparent relationship with customers? julia: when we think about driving trust, it is not just with event creators, but with consumers. we see about 50 million active consumers use the platform every month and being able to drive engine ofhe core growth of the eventbrite transactional platform. we certainly think that being able to extend and that trust to more and more consumers, is going to be a key ingredient of eventbrite continuing to extend

its brand equity. what we have been able to show investors is that our market is really different from the head of the market that you see ticketmaster. it is a vast middle market opportunity for of creators who create their own content, so it is a slightly different business proposition. also, consumer trust is just as important. emily: do you think ai and machine learning technology will to do these sort of shady business practices, or make it harder? julia: there has to be a better way when it comes to ticketing. i think technology solutions to create fraud abatement and the other sort of bad actor, will be actually and enablement for a better marketplace. our conversation with eventbrite chief executive officer julia hartz. hong kong's second-biggest ipo

delivered a bigive start, raising $4.2 billion in a theirsale, of find that increased focus on profitability is resonating with investors. >> we are going super fast and we are close to even. the second segment, we have new initiatives because we believe we will build a large ecosystem for services. i think we will become a more mature and profitable business. emily: joining me to unpack the food giant is our bloomberg reporter alex barinka. how do they plan to use this cash? >> in china, there is a andetition between meituan alibaba, the only two companies gain this huge $1.3 billion market.

my guess is that it will go back to china to grow that business. alibaba has been pushing subsidies into the market to make achieve for customers to purchase foot on their platform and grab market share. meituana has had to really compete. it is a really profitable business and investors will be watching. that is where i think the majority of the spending will actually go for this listing. arehat's right, investors concerned about spending which is very typical for the food business. the ipo was better than xiaomi, so what is the difference in riyadh >> this one seems to have a little bit of with the food delivery business and add on services. it is consumer focused and perhaps investors wrapped their head around about a little more than xiaomi, which is a sprawling empire of tech gadget making. if you have seen the stock

movement for xiaomi, it tracks along with general sentiment toward asia tech stocks, which greatly.een folks feel like they got burned, there may be some overheated valuations and people pulled back from the market. so getting out now, xiaomi may have gotten a hit from the broad sentiment. emily: it looks like chinese companies go public earlier than american companies, what is the strategy here? >> what i hear from these executives listing in asia, is that they think it is a big marketing opportunity. why not go out? investors seem to have the appetite for it as they are facing these big fights domestically, they are trying to tap additional money. so why not go earlier? in the u.s., we have seen american strength to build a big business before taking the plunge and going public. a few small companies like surveymonkey and eventbrite are coming up and walking the trend, but the big consumer facing tech

companies sit on ipo plans. for a most a decade so we will be watching them for sure. emily: we are in the midst of a trade war, how is that impacting sentiment? it depends on the company. i talked to the ceos of the tesla of china, he said that it .s better for them because they sell domestically if their tariff is on tesla, that is a boom for their business. so it depends. what about components will get -- which are purchased from investors here? their.s a cost of from their actual topline and bottom-line perspective, it seems like it depends where they are selling their products. so it is not that big of a meituan.or emily: thank you as always, alex barinka. still ahead, things are looking up for sustainable farming. how vertical farming could save

the future, next. this is bloomberg. ♪

♪ emily: by 20 50, the global population is expected to reach 9.8 billion. two thirds of them will live in cities. with growing population and limited resources, sustainable food production is needed more than ever. that is where vertical farming comes in. transform andcan

use less space, water and pesticide. but while the technology is friendly, what does it mean for farm laborers? .e investigated sure show might look like we're inside a spaceship, but this is it mighta farm -- >> look like we are inside a spaceship, but this is a farm. crops are grown inside machines. a new kind look at affirming, a promising to us to an ancient career but only if the robust and not replace it altogether. >> my name is kitty morris and i am a vertical forme farmer. >> katie works for a three-year-old startup called bari. its form is here in this industrial park in a new jersey -- called bowery. it is a last place you would expect to find any sign of life

gilead step aside and you will see a cross between a factory and a lab. ♪ trays of produce or vertically steps to save space and each of them is given the right amount of light, water and nutrients at the optimal temperature and humidity. it is an incredible level of whycision which is she can grow them faster and with less water and pesticides. >> it tastes like candy apple. .hoa! this is sour! >> i >> i know. reporter: the majority of the facility is automated. the is collected by sensors and computer controls growing conditions for the crops. but the things the machines cannot do yet, katie and her take carean farmers

of and even that is dictated by the software that runs this will operation. >> it lets me know what i need to do, what time i should do it, and that is how i get my day .one >> after a full day at the farm, katie likes to bring home jace ando her husband, her cat, burton. , basilmenu are two items for pesto pasta and mixed greens for a salad. >> i am terrified. everyone is judging. cheers, guys. >> cheers. glasses can >> she studied environmental and ministration in college but after graduating, she struggled to find a job. he dealt with me a lot,

coming home crying and me trying to figure out if i was making the right decisions. and then somehow online, up.owery popped >> she told him that it was an indoor vertical farm and i said, his sons like total bs. truckook my work and drove up to it. didn't look like those affirmed in there at all. >> i figured out i would going check it out myself. i pulled up, and it was exactly as he described. but i give it a shot. >> so in 2017, katie joined bowery. #9. became employee nin bowery is backed by some of silicon valley's top investors

and with almost $30 million in funding, the startup is expanding fast and in may, katie got promoted to beat a team of farmers. the world's population is set to reach and 9.8 billion people by 2050. two thirds will live in cities. and run going to need all kinds of new technology to sustainably feed everyone. the key to making that food affordable is to continue to make more with fewer farmers. but no matter how it high-tech this debts, katie thinks there will still be a place -- katie'sh this gets, thinks there will still be a place for her. >> i think you can still work closely with technology but i think it is nice to have a human there. it is also pretty lonely for the robots ebita have anybody to talk to. [giggles] emily: that was bloomberg's sake each open bowery farms. coming up, a man who has worn

many hats, deputy manager and even fix the. here with the new book with plenty of juicy details. you don't want to miss it. this is bloomberg. ♪

♪ he is a self-proclaimed fixer. as them describes itself first bc dedicated to helping startups navigate medical problems. he was a first political strategist for uber and also served as michael bloomberg's campaign manager, the founder of bloomberg and the the, and he also served -- he alsog lp and served as the governor of illinois. bradley, thank you so much for joining us. what does it mean to be a fixer. >> it needs to be able to get things done, and in my case, it is, how do you work with startups who take on big enemies

anniversariesg like the hotel industry, the taxi industry, and give them the ability to compete. emily: is this about skirting the law, exploiting it, playing nice? bradley: it is a little bit of everything. let book goes into it in a detail, but in almost every case, any startup we invest in has come up with a way to do something different, and if lawmakers could have come up with how to do it, they wouldn't .e bureaucrats convincey, we have to the politicians and regulators that the law is ok, or we have to change a lot to make it ok. what kind of advice did

you give uber in the early days that they were running up against new york taxi regulators and other walls? bradley: than real thing was to mobilize our customers. taxi is an incredibly powerful they in new york, buil donor,k mayor's biggest so we could not compete with them dollar for dollar, so we said ok, we have millions of customers around the country who really like ridesharing and do not want to do it, so let us mobilize those people and have them tweeting at other council and emailing them, calling them and creating so much thewhelming force so that politicians cannot get away with just doing the bidding of their donors. emily: that said, things have not quite worked out so well for uber when it comes to regulators. there are multiple investigations open, even criminal investigations. what went wrong? bradley: the stuff that i read about in in the times come i

don't have any particular insight into that, but i will say, was wilbur to row for. two aggressive? the answer is no. if over was not that way -- i will say, if you asked me the uber to, was rough or aggressive? the answer is no. they lost the fight to the new york city council but it was a fight the required hardball. the new york city council was being really good at being conciliatory and avoiding confrontation. you cannot be the person that everyone likes and throwing punches at the city council all the time, and the taxi lobby saw that opportunity and exploited it. emily: where data companies like google and facebook go wrong? what is interesting about those companies is that they came up in a friction-less environment and they disrupting industries

such as a hotel industry. and they did not have a lot of fight on the front and. so they evolve this false sense of security, that everybody would love them and everything would be fine, but the real it that politics always comes for you. eventually, you get a good enough and strong enough and you piss enough people off, it happens. google, facebook and twitter made a mistake was that they did not anticipate enough to my they did not prepare for it enough and they are scrambling now. emily: he implemented the first mobile voting pilot in a u.s. election. we have less than 50 days to go, this idea that more tech is better, could it also mean more vulnerabilities and opportunities to hack? are you the?rned about bradley: security of our upcoming elections that we are working on is blockchain and the reason for that is that blockchain is totally on now.ble, at least for

i think our current system is extremely hackable which is a we are working on this idea. we went to allow people to vote. for elections on their phones and also make is a lot safer than it is now. do i think the 2018 elections are secure? not really. emily: even though president trump does not use email, he has certainly used text to his advantage, of course, with twitter. how would you advise a candidate trying to take on trump? bradley: i think ultimately you have to be able to show that you to fight with this guy, toe to toe. i think you will see a lot of people from the left emerging and 2020 to challenge him, because they really want to battle. people are feeling really polarized and it it will be ugly. task, ceo of task ventures, with the book to read thank you so much for being here tuskadley tusk, founder of

ventures. that doesn't for this edition of "bloomberg technology." this is bloomberg. ♪

>> welcome to daybreak yesterday, i am haidi stroud-watts in sydney. >> i am shery ahn in new york. >> and i am sophie kamaruddin in hong kong. we are counting down to asia's market open. ♪ haidi biz these other top stories are covering in the next hour, tech, health care and financials lifting u.s. benchmarks to new heights, with optimism that trade tensions mak may is.