♪ carol: welcome to bloomberg businessweek. i'm carol massar. jason: i'm jason kelly. we're here at bloomberg headquarters in new york. carol: this week, elizabeth warren with a plan to be trump at his own game. jason: and the brexit campaign. boris is the new british prime minister. he vows the u.k. will leave the eu on october 31.

we'll tell you why his job is harder than he may think. carol: plus, our conversation with a ceo. her traits bets are affecting his company. jason: but we begin with joel weber. let's start with the international cover. it's a look about the bond market, debt, what's going on? joel: chief money has been around for a decade now and it is having a profound effect in the global economy. we look at the ecb this week and negative rates, negative rates has been an untested policy tool that japan was using. and now it's starting to spread. it was going to go away, and now it's back almost, and it's just a profound idea that a bondholder would invest in something that, if you hold that for duration, you're going to lose money. it goes against the principles of investing. this is investing 101.

carol: who would've thought we would be in this environment? here we are. and it affects everything. joel: the idea of low rates was to spur growth. that's not happened. and this problem just keeps getting worse and worse and worse and now, to use mario draghi's words, things look worse and worse. jason: and we heard from the ecb this week. close to home, the domestic cover has to do with 2020. elizabeth warren, what a profile. carol: life of the party. joel: life of the party. josh green, one of the best political writers there is. this is a multidimensional story about was with warren and what she's doing for the democrats. she learned a few things from trump. one was that the party came to heim. she's going to make bolder ideas for the left and have the party come to her. carol: it's very revealing.

josh covered stuff i didn't know. joel: it's an amazing story because he's an amazing political reporter. jason: it starts in an unlikely place, davos. joel: the world economic summit. is there anything you might like to talk about? she came up with a wealth tax, and then decided she didn't want to do it. and somebody else got a lot of credit for. when you think about elizabeth warren, it's sort of like she had this start, and now it's is she even going to make it out of the gate? ever since then, she's kind of caught fire and you keep watching her put together her bold ideas. carol: i love this story. jason: two great covers. thank you so much. we'll have more coming up. but we begin with another name. that is boris johnson. carol: the new british prime minister vowing to negotiate a deal before the u.k. is due to

leave the block. rob is in london. he joins us now. so many challenges. feels like getting to be premised or is the easy part. now he has to get out of brexit and the clock is ticking. let's talk about that. rob: yes, so he takes over auspicious league with 100 days before they are set to leave the european union. he spent three years offstage shouting abuse at theresa may and saying he can do it better. and now, finally, he gets his chance to show us. take us back a little bit because boris johnson, probably through our audience, one of the best-known politicians of the last few years, in part because he is larger-than-life. where does this guy come from? rob: well, funny enough, he comes from new york. he is this extraordinary figure

and he's slightly a self invented figure. he was a journalist. he was a journalist in the times newspaper, where he was fired for making up a story, a quote. and then he was given a job on the telegraph newspaper, where they were more relaxed about his slightly idiosyncratic approach to story generations. he parlayed that into a political career. and for a long time, people thought he was very entertaining. he's very funny. and he has got this amazing charisma and people just laugh at things he says. people seem to want to like him. i spent the last few weeks following him around trying to nail what it is. you can't quite get to the bottom of it but he's got this amazing charisma. people said that's very well, but british people want a serious prime minister. they want a grown-up and critics say he is fundamentally a clown. and his fans so you wait. you wait. he'll do it.

and for a long time we thought he won't. but now he has. isol: what's interesting boris johnson is known as much for his setbacks as for his successes, which brings us to the big question. if he's the man who can get brexit done. rob: yes, will he has had a lot of things go wrong. he does keep getting fired from jobs. quality, heo this has this charmed life. a school of thought that says what he will do is perhaps he will go back to brussels. he will get minor changes to the deal theresa may negotiated. johnsona deal worth organized rebellion -- boris johnson organized rebelling against. there is a school of thought is that he will get minor changes and bring it back. and because he's offering it, parliament will vote for it. and that might be true. and if you were theresa may, you

might sit here and think this is the ultimate injustice, that the man who destroyed my career over the steel might then succeed in selling my deal. on the other hand, if you were theresa may, thank goodness somebody might've finally resolved brexit. one school of thought says that's what he'll do. jason: rob, thank you so much. carol: coming up next, more on our cover story. elizabeth warren: life of the party. jason: her pursuit to make america liberal again. carol: this is bloomberg businessweek. ♪

carol: welcome back to bloomberg businessweek. i'm carol massar. jason: i'm jason kelly. join carol and me every day on the radio from 2:00 to 5:00 p.m., wall street time. and get there via podcast at

itunes, soundcloud, or bloomberg.com. carol: or sign up online and on our mobile app. ans week's cover story, in-depth profile on elizabeth warren. she has tried to push a liberal take over of the democratic party, first as an academic, then as a senator, and now as a presidential candidate. jason: we caught up with josh green, one of the most watched political journalists around. she's done playing it safe. the: she's back, yeah, hottest candidate probably right now in the democratic field. she's probably been resurrected from her earlier lows. if you read -- woes. if you read poll numbers, she's the candidate people are talking about. you see it in her steady rise through the polls. carol: he spent time with her. so what we see on camera versus spending time with her one on one, how did you feel? what did you see? josh: she's, you know, she knows

what she believes in, and that is the same on the record as of the record. she's a little blunter and harsher in her descriptions, but the basic direction is still the same. her theory all along has been the u.s. economy is essentially captured and corrupted by big business, by wall street, now by the trumpet ministration and republicans, and the only thing that is going to get democrats elected isot thisilquetoast incrementalism, but big, bold radical change. that's what she's introduced. and she has shaped the race more than any other candidate. if you want to be competitive, you have to have big plans, whether it's medical or for all, or the green new deal -- medicare for all, the green new tax. the wealth these are deals no top-tier

candidate would have dared to introduce a cycle ago. it shows how much things have changed. jason: i want to talk about some of those. the first, one of the interesting thing -- but first, one of the interesting thing is you take us back to the beginning. and a presidential campaign is about someone's narrative. she's got a pretty competitive -- compelling one. josh: she does. there are two narratives. there is the narrative she chooses to present, about the lower middle class, oklahoma schoolgirl, who kind of succeeded and triumphed, and became harvard professor, senator. all of that is true. the story i try to tell is a different one. her political education and how she emerged as a serious power player. i submit in the piece that has been the key to her success. i wrote a book about congress 10 years ago and i used to write a column for the boston globe. i've known warren and talk to her on and off the record, going back to when she was on the

oversight board, terrorizing tim geithner and senior figures in the obama administration after the financial crisis. jason: that was the moment she came into herself. it felt, at least nationally. josh: right. she had been a fairly renowned bankruptcy professor, not much of a public figure. one of the things i talk about in the piece, warrant has always had a gift for communicating. it was true when she was a law professor, got her noticed by dr. phil before anybody heard of her. that brought her to the attention of top democrats, who began bringing her into testify because she was a compelling person. that landed her the oversight gig at the bank bailout. that is the moment you see her developing her signature style of staging these big, aggressive, high-profile confrontations with senior figures, almost always men, and somehow getting the best of them

in a way that galvanizes grassroots liberal support. that's what built up her independent base, got her elected to the u.s. senator, and really been the key to her revival after her early stumble. josh: what is the next catalytic moment when it comes to warren and the democratic field? the debate coming up in the next week? she's done well in that venue so far. what does she need to really least,r in this, at front runner pack status? josh: she needs to figure out how to grow her support. she's in the top-tier support, but no one has broken out yet. kamala harris is in the top-tier. joe biden has come down, but he is still in the top-tier. warren needs to broaden her support. one is among blue-collar workers who vote democrat, who are populist.

bernie sanders is currently winning those waters. the other african-americans are hugely important. a lot of them have a favorable view, but don't yet support her. she's got to appeal to them and keep them from going to candidates like kamala harris, joe biden. i think that's going to be her mission. carol: too early to call who might lock up the nomination? josh: always too early. ask me again next may and i might venture a guess. carol: you can hear more from josh green in this week's podcast. the ipo market and why she's expecting a healthy amount of companies to go public this fall. carol: we also sat down with hilton ceo on how trade spats are affecting his company. this is bloomberg businessweek. ♪

jason: welcome back to bloomberg businessweek. i'm jason kelly. carol: i'm carol massar. you can also listen to us on the radio and in new york, 106.1 in boston. area, am 960 in the bay london on dab digital, and bloomberg on the business app. carol: we talked about the nasdaq ceo ongoing public versus staying private. the health of the ipo market, and the fastest growing part of their business. >> today, the trading business, our trading revenue is less than 25% of our overall revenue. our recurring revenue streams 70-75%. that can come from data analytics and market technology. our technology business is almost >> whittling. we can provide that to other --

we can provide that technology to other markets in very different spaces, not just the traditional capital markets. and it is the fastest-growing part of the business. carol: does it become the biggest part of your business? adena: i would love to think of that as an opportunity for us, but we have other great parts, as well. carol: i think i saw a data point about 80% of new issues ended up on the nasdaq. tell us about the ipo market, how important that is to the nasdaq, and what you see in terms of activity. adena: the ipo's or corporate services business is important to us. we're kind of combined. we have four key businesses, and that's one. we've had a great pipeline of companies going public. the performance of the companies are up over 20% this year. we do have an 80% win rate so far this year. we're excited about that. and we've had great companies choose to come to nasdaq, crowd

stripe, real real, news media. there's some really great companies that have been able to tap the public markets this year, and we do see a healthy pipeline going into the fall. everything is subject to market conditions, but if the markets remain inviting, we'll continue to see great companies in the fall. jason: and as you look across that 80% win rate, can you generalize what's getting you the win? we tended towell do very well in health care and financial services. a lot of community banks, market structure, some tech companies go public on nasdaq. health care and biotech. we win 97% of biotech companies, and that's been a very active market in terms of finding great investor interest around health care. and in the technology space, we compete every day with our competitor down the street, but

we do very well in terms of bringing amazing companies to nasdaq. carol: we talk so often about private equity space. how much money is out there to fund startup companies that enables them to stay private so much longer? how is that impacting you guys? what are you seeing? adena: i do agree there is a lot of private money at their and companies have a lot of choice. they can choose to stay private longer and they can tap more investors than ever before in the private space. we have the nasdaq private markets that helps companies manage money in a private context. but we much rather see companies tap the public market. the reason is, in the private markets, it's a concentrated investor base that focuses on the top of the economic scale, whereas if you bring companies in the public market, you're bringing every person in the world a chance to be a part of that. well over 50% of the population

of the notice dates are invested directly or indirectly. so you do want more companies to come out and allow those hard-working people to be able to invest in growth companies while they're still growing. [no audio] so we work with of the companies to make sure we manage their committed -- liquidity. carol: you can hear more of our conversation over the next couple of weeks. we talk to. her about 70 different things. jason: a lot of cool stuff, including what she might be doing if she wasn't running one of the most important exchanges. from that global exchange to a global hospitality brand, and another exclusive. we sat down with hilton ceo. carol: he knew he wanted to work

in the hotel business. acting on his dad's advice to understand a business from behind the walls, his first job was in the engineering department of the capital holiday in, plunging toilets. jason: so glamorous. he joined hilton in 2007, right after his big private equity by up. since then, he's moved the company headquarters from beverly hills to virginia, and added 86 more rooms globally. here is our exclusive conversation. >> we're not seeing dramatic impact on the business. we came in thinking we would have a reasonable year from a growth view. in the world and the u.s. would be a little lighter than it was last year, but still positive and reasonably good. and i think when we finish the year, that's what we're going to see. when i look at the indicators in our business, both advanced

indicators, group business, or short-term indicators, they're all holding up reasonably well. the nice thing about our model is the bulk of our growth is coming from new unit growth rather than same-store growth. while i'm reasonably optimistic about the economy, broadly, ending the year in a pretty good place, our new unit growth, which is super resilient, is really good. we're experiencing the largest net unit growth we've ever experienced, 75-80% of our growth. we have tons of visibility. when you look at our overall business, such a huge driver of growth -- these --e longer, the, though, these traits bets go on, then-- trade spats go on, do you start to get nervous? i'm notchris: yeah,

saying we don't watch this closely. nobody talks about anything but trade war is now. it's all about china. yeah, i do think that markets don't like uncertainty, so this provides us a level of uncertainty that's not healthy for the markets, probably not as healthy as you like for businesses in terms of longer-term decision-making, and so we watch it carefully. i'm certainly very hopeful that, heads are going to prevail. jason: 12 years ago, this company, i think is fair to say, was not focused. it's based in beverly hills. it's essentially a holding company. it's got several different businesses. how, in short, did you get it focused? chris: i can be very loquacious about this. i'd say it's really simple. this company did not have a

global, cohesive strategy of any sort. as you point out, it was sort of a holding company, for five or six companies put together by merger and acquisition and never integrated. there was no common strategy. i would argue no real strategy, let alone common strategy. and the culture, 100 years ago this year, had really lost its way. the culture had become super complacent. the sideload nature of the holding company approach, you didn't really have a common culture. fast-forward to me, what we did was keep it simple. we focused on developing an unbelievable strategy to sort of get this going in the right direction. we were interrupted a bit by the great recession, but we used that as a means to really focus our efforts. we went about building a world-class culture. carol: taking you out of beverly hills, how did that change things?

adena: why did we do it --chris: why did we do it? beverly hills is expensive. there was a whole host of reasons we did it. the cost was a reason. time zone was a reason, access to airports. but let me tell you the real reason. it was a bout a cultural reboot. john, still our chairman, i said we have a great plan. we have a great strategy. but the core of executing that strategy is to rebuild the culture. i'm not saying i can't do it here. i'm saying it's going to take a long, long time. gravity is a powerful thing. we've been there 60 years. decades of complacency. it's going to be really hard. carol: you can find more of that interview on this week's business week talks podcast. jason: still ahead, no escape from low rates. it's the finance section takeover.

carol: how a decade of cheap money is morphing the entire world. this is bloomberg businessweek. ♪

jason: welcome back to bloomberg businessweek. carol: still ahead, the apple does not far -- fall far from the tree. jason: and raising millions to legalize mdma. birminghamake us to -- burning man. carol: how some brave

entrepreneurs are embracing the return of the seas fiercest predator. jason: and in the finance section, a takeover all about interest rates. setting ratesanks below zero and investors buying at high prices, there is a huge pile paying a negative yield. carol: it is important because it affects all of us. if you have questions about how we got here, then check out the story. the bonds that your money. -- eat your money. >> this is a problem that has really ratcheted up as the signs of the global economy is slowing and central banks are going in the same direction. that is to cut rates and introduce more easing. carol: it is amazing. if you use the function on the bloomberg lookup 10-year gilts, we are not talking about french

countries -- yields, we are talking about developed countries. it is this big black old right in the middle of the world's major bond markets. in the real world, it means the countries like germany are being paid to borrow money. which is just completely strange. it is turning the world of debt and interest rates on its head. carol: why would i go and buy sovereign debt where i am not going to make money? i am paying the country. why would i do it? explain why investors still do it. >> several reasons. primarily, the bonds which it affects, although this is rapidly changing, is the most safe and liquid bond. if you are protecting your portfolios typically these are the bonds you want to own. and if there are risks such as a

trade war or potential conflict with iran, then these are the assets you want to be holding. so if people are flocking in to buy, you can still make a profit. furthermore, you cannot get that much money putting it in the bank. as you are getting slightly more than the european central banks, then there is still some scope for appreciation. that might be a few of the reasons why you want to hold these assets. jason: play it out for us. you mentioned germany and you have got people, including the incoming head of the ecb christine lagarde, talking about potential solutions for germany. , everybodyhorizon could become the next japan. tell us about that. , people arement

saying europe is going the way of japan. -- mean a world of permanently low inflation, aging populations. this is something we're starting to see in europe. if you have got an aging population, you have less working age people putting money into pensions. it means pensions are struggling to make money. in germany and in japan, this is a real problem. christine lagarde, the next central bank president, she has got a background from the ims. -- imf. she might have other solutions, such as fiscal spending. central banks are bearing a load of the strain and it is not really working. now that we know how low rates became a reality, we have another story on how cheap money is changing everything. it is not going away. carol: it certainly isn't.

rates to about zero things started turning around. they started lifting rates and tightening policy. without interest rates were getting hired, we are getting growth. back to normal. to be were warning abreast of the 10 year treasury note. it could go up to 5%. at one point, it was like 1% and change. , the longest recovery on record, albeit very slow, and your treasury yields at 2%. the fed only tightened up to this 2.5% range. and now they are about to reverse course. so we did not get quite enough growth. we got a bit after the tax cuts, but it did not last that long. we have not had a lot of inflation. so there's not a lot of risk in the bond market. and the bond market is a gauge

on where the economy and inflation is going. and nobody sees it going too far too fast. jason: just as a reminder, interest rates in form so many of the decisions we make. , that is, as companies where everybody is looking to understand what to do next and how healthy the economy is. >> is the kind of thing that everybody knows. interest rates, they are very informative if you think about what it is telling you. and interest rate is based on economic growth, where might inflation be. you and i all care about growth. inflation, how much does it cost? all of those gauges are embedded in interest rates. interest rates start with just kind of a base rate.

and then you have bits from their. -- there. maybe we have more risk if we are holding this money with the treasury department. but it is really a true gauge. the stock market usually jumps off of that a little bit. companies do better when it is easier to get cheap money. it filters through to everything, even though it is not the flashy thing. carol: the people you talked to and the feedback, two people expected to continue? -- pimco, they said that rates can go lower. we were talking, i know you talked to other reporters about the 13 trillion in negative yield and debt, he was saying he could see a scenario where even government that yields of the u.s. could go negative, which would be pretty mindbending.

but definitely, yields can go lower. he said, of course, there is risk. there are a lot of things that say this is not ending now. next, getting to the core of apple's succession planning. the man the many think will be the next ceo. more of a tim cook than a c -- a steve jobs. carol: and psychedelics, where better to look at them burning man? jason: this is "bloomberg businessweek." ♪

jason: welcome back to "bloomberg businessweek." carol: i am carol massar. join us every day on the radio from 2 p.m. to 5 p.m.. you can also catch up on our daily show on itunes, soundcloud, and bloomberg.com. jason: and find is online.

-- us online. apple's heir apparent, he is much more like the current ceo van steve jobs -- than steve jobs. he became the second most important person after it was announced dan ives would leave the company. >> at these major tech companies, apple included, there are two types of succession planning. there is what happens if something happens to the ceo tomorrow and then there is the long-term replacement succeeds the ceo if he retires at a normal age. jeff williams is about three years younger and fits the mold for both. if something were to happen to tim cook, everyone we talked to says jeff williams would be able to slide in without the company missing a beat. in terms of long-term succession

planning, it depends how much around.im cook will be if you will be the ceo for the next five or seven years, he is almost 60. jeff williams would be able to slide in. around. so he is the heir apparent. the nexty likely to ceo depending on what happens to tim cook, not that there is any reason for him to step down in the imminent future. but long-term, i don't think that person is even at apple right now. carol: talk to us about mr. williams. what kind of person is he? what has been his experience inside the company? >> the recurring theme is that jeff is very modest. someone called him the most modest apple executive. some of the higher brass who say he hashere driven stock options, they drive

bugatti's, jeff williams is not like that. in meetings, he can be demanding , but at times, he leverages his lieutenants to the barking. the neat thing is that he is almost purely an operations person but he does have product inside. he has shepherded the apple watched the market. product, is a fine perhaps a very good project. but things were not so clean at -- back in in 2014 2014 when they had several production issues. but his team has worked out the kinks. , if he question arises is the one who shepherded the apple watch, is he the one shepherd next-generation iphones and other products? the answer has clearly been yes. carol: now to a project funded by silicon valley that might

surprise you or maybe not, legalizing mdma. jason: it is in the features section and is a profile of maps , the leading organization promoting the use of psychedelics. we followed the founder to his most of -- most important fundraising event of the year among burning man -- year, burning man. carol: here is sarah mcbride. his 60's and has spent his whole career making drugs more accepted and legalized. in part, because he believes they can be helpful in treating a number of elements, including people with ptsd. he thinks a really good way to treat people who have come back orm wars or policeman victims of violent crime is with a combination of mdma, which people know as ecstasy, and talk

therapy. and he has all the studies that prove how effective it is and he has gotten the fda on board. he has gone through phase one trials and now is in the middle of the phase three trials. all bankrolled by his nonprofit, called mavs. it is very expensive and he finds a lot of investors at burning man. the experiment station, drug taking, and nakedness, he was essentially looking for money. how successful was he? >> it is a fine line. is aically, burning man cashless society, not a commercial society. so what he does is he goes to burning man. she knows a lot of rich, influential people.

he hangs out with them, he meets their friends. a large number of them are in the tech community. and he kind of shoe loses -- meets everybody. and when he gets back to civilization, he made you mail people and call them. say, remember, we were talking about my nonprofit. he raises millions of dollars that way. but no actual donations come in at burning man per se. but that is where he makes all the connections he needs. burning man is where he met all kinds of people who have since gone on to give them cash. for example, early facebook employees who have given him donations. developers, a board member of his who founded a big software company gave him his first large donation, $5 million.

, now on his board. and just other random, interested people. like david broner who runs that so company is also on his board. he camped at his camp at burning man and kind of makes that his home base. he goes around with people from google, the founders of burning man, everyone kind of knows who and is interested in the work he is doing, even if they don't donate. and everybody kind of wants to meet him. he was basically mobbed everywhere he went. up, women only motorcycle rallies are gaining speed. we tagged along to a tour in colorado to profile the growing more sports segment -- motor sports segment. jason: and cashing in on the

return of the great white shark. 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, and on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington, d.c. carol: a.m. 960 in the bay area, london on dab digital, and through the bloomberg business app. week'sner in this pursuits section, women only motorcycle rallies. jason: hannah elliott joined the wild gypsy tour in colorado, profiling the culture of this growing motorsports segment. >> as the big guys and motorcycles are figuring themselves out, this spot of women writers -- riders is growing. and one of the things we have

seen is this group of women motorcycle riders forming together. joining writing groups where they will do -- riding groups where they will do campouts and festivals, it's great. carol: somewhere, you talk about men and women writing differently -- riding dif ferently. >> this is just a generalization. a lot of women i speak with say that they like writing with women as we don't want to die and we don't have anything to prove. somehow, it is easier for them to ride with other women because they don't have to prove anything. it is by going at your own pace with your own style, doing your own thing with like-minded people. jason: as you point out, a lot of the big companies, harley included, facing a bit of an existential crisis, to say the least. we heard about that with their earnings. they are paying close attention to this. >> it is interesting.

the most well-known group is called dave's -- babes ride out. they have campouts and concerts, it is really affirming and inspirational. harley davidson is one of the supporters. they give money, of course, and support at the events. harley realize that this is a potential growth market for them. it is a way to reach new and younger riders, minorities, everything they need. because their court right or is a 50-year-old white guy -- core rider is a 50-year-old white guy. the livewire, and electric motorcycle, you wrote that. synthesize what is going on with this trend. >> this is an example of harley davidson china to come up with a way to be modern and relevant, and electric bike -- an electric

bike. i did write it, it feels tangible, beefy, a powerful, strong but. -- bike. this is a way of offering new things that might attract new buyers. it is silent, it has a lot less maintenance. it does not rumble and vibrate, it is lighter. it is easier to get on and off. will it save harley davidson single-handedly? no. but it is meant to attract new writers -- riders like women. sectionheck out the new , like secrets from the stage of moulin rouge, the broadway musical adapted from that famous film. carol: those sets are amazing. let's finish up with a story on sharp towards him. an increase -- sharp towards him -- shark tourism.

jason: here is our editor who took a shark tour and it is bloody good business. half houra two and a tour off of chatham, massachusetts, and within 10 minutes, i saw my first shark. the whole time, we saw dozens. carol: what was that like? >> it was thrilling and unsettling. we had one that felt like it almost jumped on the boat. the change direction and splashed us all. the most memorable moment, we saw a shark kill a great seal, eat it up and bring us towards our boat -- it towards our boat. jason: and people are paying for this but this is big business. talk about how much it costs. cost 2500uz -- cruise

dollars for a maximum of five people. atlantico from the conservancy. so it is a philanthropic enterprise and also a business. that is part of a whole bunch of ways that stores are trying to capitalize. they are selling t-shirts that chicken"ls taste like and all sorts of fun stuff like that. there is a real balance, because people are afraid of sharks, and they should be. notl: here it is, we are talking australia, we are talking cape cod. it is on the rise but you have to tread delicately. you have an increase in shark sightings and, unfortunately, some folks who have lost their lives as a result of these

accidents. how are entrepreneurs in dealing with us? -- with this? >> carefully. last september was the first fatality in massachusetts since the 1930's. that did change the tone. the stakes got pretty high. the cape is putting up these very frightening signs. they are trying to keep people out of the water. on one hand, trying to keep people safe. on the other hand, sharks and seals are protected. there's really nothing for now they can do. so i think they're trying to make the most of it >> -- it. carol: bloomberg businessweek is available on newsstands now. jason: and our mobile app. carol: and you can find more stories, including a photo essay of the streets of san juan and the protests that regarded -- resulted in the resignation of the government. jason: and an article on how

heightened tensions in the gulf have not caused crude tensions despite. why the numbers -- to spike. why the numbers are stacked. carol: i love the international cover story. we talk about negative rates, here is this environment we are in. it is not fringe nations, we are talking developed nations. what are the broad implications and do we stay here? i think it is a must read. jason: both for economists and noneconomists alike. carol: yours? jason: josh green, i say and every time he writes something but this is so timely. elizabeth warren six months ago, had a rough start, but he demonstrates that she is in the center of the debate right now and really pushing the democratic party. carol: it is a great read. and you can find more stories over the weekend. jason: and check out our daily

podcast. carol: more bloomberg television starts now. ♪ we're the slowskys.

we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. ♪

emily: i'm emily chang and this is the best of bloomberg technology were we bring you all of our top interviews from the week. alphabets, and facebook all release second-quarter report cards, we break down the results. facebook results are overshadowed by a new antitrust investigation opened into the new ad and mobile business. this after facebook pa