♪ carol: welcome to "bloomberg businessweek." i am carol massar inside bloomberg headquarters in new york. this week, political troubles on both sides of the atlantic. a formal impeachment inquiry is opened on president trump. >> therefore today, i am announcing the house of representatives moving forward with an official impeachment inquiry. plus, a defiant boris johnson dragged back to parliament to explain why he broke the law.

we take a look at what a hard brexit might look like. president trump's political future among the topics front at center at bloomberg's forum in new york. >> when you added together, i think what it leads to is not a recession, but a slow down growth globally, which is what we are experiencing. carol: more on that ahead. first up, here is editor joel weber on this week's cover story. >> this is one of the hallmarks of "businessweek," these strategy stories that we sometimes do. it is a look at how mcdonald's has been thriving for the past five years or so. share price keeps going up under the ceo. in the past six months, he has really doubled down on tech. carol: that is something that i did not realize. he has made a bunch of acquisitions in ai, voice recognition technologies.

>> earlier this month was his latest. what we are seeing is mcdonald's transitioning from being a fast food company to looking more and more like a tech company. there are cameras at drive-through that can scan your license plate and maybe even remember what you ordered last time, or understand your voice and help translate that to the kitchen. we are seeing a real effort to streamline how mcdonald's can use technology. there is always resistance to that. carol: expensive to do this, right? >> the franchisees have been pushing back. carol: what i love about these stories is you get some inside details. they take us to the old headquarters. it was kind of drab, kind of boring. >> that is in part to try and retain and enlist technology. my favorite part is how the company transitioned to be able to do delivery. it's like, let's do this right

now. carol: we can see the ceo doing this. another great read. this is a company, maybe we take it for granted that it has been around for a long time, but it is a huge company. >> massively global. they feed on any given day 1% of the world's population. mcdonald's actually has a new secret sauce and that's big data. carol: another great cover story. thank you so much, joel weber, editor of the magazine. from big data to a big issue. democrats launch a formal impeachment inquiry of president trump his conversation with the ukrainian president to investigate democratic front-runner joe biden. what a week in terms of news out of washington. a lot of press conferences. we have got hearings, a release of the transcript of that phone call. where are we in terms of this process? >> well, this has been really

amazing. if the mueller report was just a very slow moving drip of information, this has been a deluge. it is a version of the pressure scandal. very fast. -- russia scandal. very fast. there is the progress from hearing about this scandal to seeing the transcript of the phone conversation with the ukrainian president, to reading the whistleblower complaint can literally be measured in hours compared to how long it took to find out some of the information from the previous investigation. carol: all of this coming out blew all of us away. what is at stake for the democrats? what is at stake for the president? >> i talked to some people involved in the impeachment of nixon and clinton. they both said, you know, at the end of the day, you have to put the politics aside.

if the majority of the house believes that the president has committed an impeachable offense, then they have to do it. i think a big factor is that a lot of the more vulnerable house democrats finally came forward and said, we think this is over the line. especially those who had a background in national security and intelligence. carol: what are we hearing from the white house at this point about it? i think the press conference on wednesday of this past week, big press conference with the u.n. general assembly. president trump has been in town a lot. we all observed a much more subdued president trump. >> his speech to the united nations was -- the text of his speech to the united nations was very militant, but the delivery was very subdued. i think you are seeing some of the same tactics he has used to push back against the previous scandal, basically arguing that

he did nothing wrong, that anyone would do what he did. what we saw was a little bit faster cooperation once the impeachment word was raised with handing over the primary documents, i think the white house had been stalling while in congress for a long time on even sort of routine information that past presidents would have given. once the impeachment word was dropped, they quickly cooperated. carol: thank you so much. appreciate your insight. coming up, what a no deal brexit might look like, plus business leaders weighing in on navigating global instability at bloomberg's global business forum. this is "bloomberg businessweek." ♪

♪ carol: welcome back to "bloomberg businessweek." i am carol massar. join us for "bloomberg businessweek" everyday on the radio. you can always catch up on our daily show by listening to our podcast. you can also find us online at businessweek.com and on our mobile app. this week, boris johnson cut his visit to the united states short, returning home to face parliament and the never ending brexit story. here is what a hard brexit might look like. >> he tries to set out what that first 24 hours might look like if it is the case we end up in a no deal brexit. this is what boris johnson is promising to do if he cannot get the deal with brussels. he says that u.k. will leave the eu on october 31. what would happen next? we have followed various individuals who would find themselves in fairly dramatic situations if it were to be the case that there was a no deal brexit. for example, we follow a lorry driver making a time critical

delivery. we follow a farmer on the irish border who has to cope with that change in ireland. we follow a musician on tour in europe, so all these individuals who could face meaningful and significant disruption if a no deal brexit were to occur. carol: let's talk about the ports in particular because that's really questionable. if we have a hard brexit, how do they operate the port of dover? we are talking about the channel crossing. 10,000 trucks go through the fairies every day at these ports carrying almost 1/6 of all trade and goods to the european union. this is huge. >> exactly. it is probably the most important crunch point for britain when it comes to trade and it is the area where the government is keen to make sure there is not disruption. there is a certain limitation on what the british government can do to keep that traffic flowing.

the british can't control what the french will do. what will the french officials customs do when the trucks start coming over in a no deal brexit scenario. the fear is that the french government will be quite strict in its application of the rules and that will mean trucks end up being pulled over if they don't have the right documentation. they will need new documentation in a no deal brexit scenario because the u.k. will no longer be in the eu. that's the worry and whether disruption could occur. carol: let's talk about that farmer on the irish border. he could be in violation, not in violation, in violation, explain that. >> the irish border is not a straight line. it is a squiggle. you have individuals with farmland on both sides. it may end up crossing the irish border on several occasions.

if he has a sheep in northern ireland and wants to move them 100 yards down the road to another field, it would have to cross into the republic of ireland. in a no deal brexit, that would be illegal. that would be smuggling. he would have to go through a customs checkpoint to declare these animals because the rules say if you are moving livestock into the eu from a non-eu country, you must have it checked. that is the kind of issue he would face in the first ever new deal brexit. no deal brexit. it is a question on whether the government would actually enforce those checkpoints. carol: let's go to our bigger, broader take away here. it sounds like initially it is not a doomsday scenario. >> don't necessarily expect significant, visible disruption on the first day of a no deal brexit. i think many of the impacts that have been talked about could occur. if they do occur, they would

happen in the days and weeks after. that is mainly because if there is disruption at the ports and trucks get held up and so on, it would be at least two, three days, a week before the rest of the supply chain feels that affect. if companies have stockpiled goods, they can run those stockpiles down. after that, it would start to go from paying if that disruption continued. carol: president trump using a speech at the united nations this week to reiterate complaints about china's trade practices. president trump: as i have made very clear, i will not accept a bad deal for the american people. carol: the expanding global trade war is already hitting close to home. let's bring in our reporter who follows trade and globalization for us at bloomberg. great to have you here. your story this week in the magazine, i feel like we need to get ready for maybe trade war number three. it is expanding in terms of concerns about trade with europe. >> absolutely. we are getting ready for the next round that will start to

unfurl in the coming days as the trump administration starts to rollout new tariffs on the eu. those are the result in the first wave that we are going to see in a long-running battle between airbus and boeing. we are expecting the wto to authorize the u.s. to levy something like $8 billion in tariffs on the eu. that is going to hit the eu hard, but it is also going to blow back in the u.s.. some states like alabama have pretty close ties with not only the eu and european businesses more broadly, but airbus pretty directly. carol: it is a big deal and certainly you talk about the state of alabama. the biggest one is from the eu, correct? >> absolutely. they are the biggest investor in a number of states, including alabama. there are two big factories that

we think about. down in mobile, there is an airbus plant where they assemble planes and they will start assembling a220 planes. near tuscaloosa, there is a big mercedes plant. 8000 people go through the gates there everyday. they turn out 245,000 vehicles every year. including a lot of those new mercedes suv's you see on the street. a lot of those suvs get exported from mobile -- i'm sorry, from alabama to places like china. carol: convening heads of state and government and hundreds of ceos in new york. we spoke with anand mahindra, chairman of mahindra group, and brian moynihan, ceo of bank of america, on the u.s.-china trade war. >> what you have seen over the last 2.5 years is the u.s. and warning them as a leader of the

developed world. on the chinese side, they are trying to figure out how far and how fast they want to get someplace. you know, the two countries got quite close in may, at which point the chinese just withdrew. they had agreed to a variety of things, we thought, then they look at the hole, and they said, my goodness, let's not do this. this is starting again. meanwhile, what has happened in these 2.5 years is that the two countries have started, as a result of false starts and a variety of other tactical stuff, are starting to decouple, which is very dangerous. >> i do wonder, i think increasingly we are expecting this world where it is china and its allies and the united states and its allies.

you are at a very interesting place between china and the united states. how do you see it? >> as a situation of enormous opportunity. carol: wait, you mean the spat you do? >> absolutely. i am just being truthful here. for a long time, it was not kosher for anyone in american policy positions to admit that there was a kind of conflict with china and that india in fact could be one of the players in this game as a buffer against china. that was just a no-no. no one would admit that. i think now it is in the open and president trump has made it more in the open. going to houston made it very clear what kind of alliance he had. i think there is nothing but opportunity for india. we have to play our cards right

and see that we are viewed now as a very appropriate ally for the u.s. as a buffer, both in defense terms, frankly. if you look at the number of defense exercises between the u.s. and india, they are proliferating dramatically. we never used to buy, we used to buy from the russians. this is a democratic country, a country that values i.p.r. a country that has scale and growth. i think india has nothing but a unique opportunity right now. we just have to play those cards right and i think it will be a win-win for the u.s. and india. >> i actually agree. having been with a bunch of ceos, prime ministers this morning, all of them talking about their business expanding in india.

it has been a natural recipient. i think some of the bureaucracy and things that were difficult to operate have been dealt with. they can be approved and everybody knows it. i think the broader context here is global trade. if you go back and say the china-u.s. situation will take longer, the question is, what can we resolve in the interim? i'm not sure what happens given the politics and situation this week, the usmca, and things like that, which are critical to get done. as much as india is a beneficiary, mexico and canada is a beneficiary. the weight scale in mexico is actually lower than parts of china. they could use the jobs. there is already integrated manufacturing supply chains. canada is a different situation. i think to keep the u.s. moving forward, there are three or four things to knock out. everybody hopes for china-u.s.,

but there are a couple of things to knock out first, and one of them is the usmca. i don't know if they can politically push it through, even though both sides seem to want to. carol: you can hear more of that conversation on this week's extra podcast. up next, softbank has a problem, wework. plus, lovin' it, meaning i.t. mcdonald's in the days of code. -- age of code. this is bloomberg businessweek. ♪

♪ carol: welcome back to "bloomberg businessweek." i am carol massar. you can also listen to us on the radio, sirius xm china 119 and in new york, am 960 in the bay area, in london on dab digital and on the bloomberg business app. another big story this week. wework's plan to go public hit a fall.

the ceo has stepped down under pressure from his board. this week's technology section looks at one of wework's biggest investors. we are talking about softbank. rebecca is joining us now. i think the question is right now, as we have seen the reduced evaluation of wework. will softbank's founder have to reduce his valuation and bite down this investment? >> that's right. we are hitting the end of the quarter, the end of september. throughout recent months, banks have taken down their estimates of what wework was worth. softbank got in at $47 billion valuation. now, looks like it could be worth $15 billion or less. how does softbank handle that? that's the big question. carol: you pointed out, or the story points out that he is very quick to write up a valuation.

will he be as quick to write it down? >> it calls into question the whole accounting. there is a lot of leeway in how they account for things. he could argue that wework is just as successful as it has always been. just because investors on wall street are debating the value ahead of an i.p.o., they are still bringing in the same amount of revenue as when we got in. if you want to think about, do people have faith in softbank? carol: i think that's the big issue. you think about softbank's vision fund, a credible amount of money investing in technology. uber was one of their main investments. that valuation has gone down. same thing with wework. you do wonder what fate future investors will have if you are not rethinking the valuation. >> consider that these big investments have been driving

the vision fund, they have been driving softbank's profits. it is not the old-school telecommunication businesses. there is a lot riding on his big bets. carol: he does not have to write it down, right? technically, he does not have to. >> that's right. his tone around wework has changed in the last few weeks. softbank was one of the key reasons wework's ceo stepped down. they were pushing for him to step down. carol: i have to wonder, we have talked so much about the vision fund and the influence it is having on the investment community because they can make such big investments. typically in an investment fund, some investments will pay off, some will not. we are really looking at it very different. >> that's right. the other thing that has come out is masayoshi son's leeway for founders to behave in a certain way.

he is starting to send out this message that you going to have to be profitable sooner if you want my money. carol: i feel like this week there is a lot of news going on in general, but i feel like everything surrounding wework, we have really started to rethink i.p.o.'s and start up companies and how we look at them and really accountability. rebecca, thank you so much. also front and center this week, climate change, as heads of state gathered in new york along with some of the world's top corporate leaders at a united nations climate summit. this week's business section looks at how companies are addressing their travel policies due to something called flying shame. it is a real thing. here is this week's business week explainer. >> biplane it is 90 minutes from

stockholm to berlin by plane. when a swedish startup celebrated them going public, -- they banned virtually all employee air travel within europe and discourage longer distance flights. the goal is to become carbon neutral. this week, they have a name for it. it means flying shame and they are not alone. companies and nongovernmental associations across europe are taking a hard look at their travel policies. a sweden based airline says travel fell 2% in july. sweden's airport operator says domestic flights have carried 9% fewer passengers this year than last. there is not much airlines can do to push back. for jets, the carbon dioxide output per passenger mile is at least 4 times that of trains. european airlines have the most to lose. they fly a lot of short flights. across the continent, high-speed rail is a viable alternative.

carol: mcdonald's has a new secret sauce. burgers to beer. we hear from the ab invbev ceo. this is "bloomberg businessweek." ♪

♪ carol: welcome back to "bloomberg businessweek," inside of bloomberg headquarters in new york. still ahead, our guest on where he is deploying capital plus, , brookstone's ceo on business since brexit. all that to come from bloomberg's global business forum. we begin with our cover story. mcdonald's ceo wants big macs to

keep up with big tech. in 1948, mcdonald's had its first big technological breakthrough, it offered a simple menu of hamburgers and soft drinks produced cheaply on an assembly line. this helped spark the $600 billion modern fast food industry, and one of the most iconic brands of all-time. in 2013, earnings began to stagnate as diners deserted the golden arches for new burger upstarts. later, steve easterbrook came on as ceo and pushed mcdonald's to make its next big tech leap. so far, his plan seems to be working. at some locations, orders placed on the app are automatically prepared the moment a customer comes within 300 feet of a store. in the drive-through lane, a -- the company is testing technology that can scan your license plate and suggest food based on previous orders or shake the menu based on whether.

from kiosks inside the stores, diners can customize their burgers into thousands of different variants. mcdonald's is adopting the approach of amazon, facebook, and google, by using technology to personalize the consumer experience. powered by data, it is not crazy to expect mcdonald's will someday know that you want a big mac without onions, a large fries and an oreo mcflurry, even before you do. carol: we now head to the reported behind the story, thomas buckley looks into whether big data is the secret sauce. we may technology the focus -- he may technology during the -- the focus during the tenure of his company. he was traveling in spain and realized that burger king was offering delivery to the spanish market. and on the nights when spanish football teams were competing in the local league, mcdonald's was losing a lot of customers on account of that. carol: so let's talk about what

mcdonald's has done to be more digital. >> current corporate culture, calling itself a technology company is a throwaway line. everybody in every industry is doing it. in mcdonald's case, there's something very tangible about their efforts. for example, they acquired dynamic yields, a tel aviv and a new york-based artificial intelligence startup for $300 million. that was largest deal in two decades. the purpose of that suits their vision, which is to eventually have license plates scanned to record previous purchases at the drive-through. it will suggest items based on similar purchases or locations and the weather and all sorts of other variables. it will really allow mcdonald's to process a lot of data and gauge what is best at any given time. carol: they are also redesigning stores.

they are rethinking the physical outlets. >> absolutely. this is an initiative they had been shepherding before becoming ceo called experience of the future. it requires franchisees who own and operate over 90% of mcdonald's stores globally to completely reimagined the function of the store and services they offer. the cost of remodeling is between $160,000 and $750,000 for the more comprehensive remodels. naturally, the owners and operators having to fork out quite a bit of cash to see these through are protesting the vision somewhat. carol: mcdonald's didn't really have a choice, right? in the face of increasing competition, there are lots of burger joints out there, and food trends are changing. people are interested in

plant-based alternatives. mcdonald's, they are huge, but they were seeing growth slowdown and market share pullback. >> that's absolutely right. it is a classic example of a deeply iconic american brand that was fueled by baby boomer loyalty for a very long time. it rested on its laurels somewhat and has undeniably lost its way with the customer. easterbrook had been on the sidelines for a lot of his career at mcdonald's. he thought that this is how we ought to change things for the better. he was the head of the u.k., europe observing all of these , different trends. towards organic, towards health, thinking maybe we can bring some of that innovation to mcdonald's. not really on the health side, but perhaps technology. carol: i'm here with kailey leinz who has more on if easterbrook's strategies are working.

>> the are good if you think about the key metrics. this key metrics being same-store sales. we take it back to 2014, you can see mcdonald's at sales were not doing so well, easterbrook took the helm back in march of 2015, and since then, the trend has reversed. sales have been accelerating while the pace of growth has , avid and flowed, it has been growth nonetheless. especially in the most recent quarter, when same-store sales grew 6.5%. it is the best since back in 2012. and as you can see, they have been outpacing competitors. that would suggest he does have the secret sauce. carol: quite a big turnaround. kailey leinz, thank you. from burgers to beer we go to bloomberg's global business forum, where my cohost caught up with the ceo of ab imbev. >> we see a good environment for

our business. there are challenges, but that's always the case. we don't see what we read sometimes and papers. the other thing is that our production is localized. jason: right. >> so these things about trade and flow of goods, that does not necessarily affect us. always a little bit, but 95% of what we produce we sourced locally and sell locally. it's a bit different. brewers, so we are always paying attention to what is happening to the consumer. we are not economists, so i don't have an opinion on some of these trade conversations, but if it is good for consumers, we are happy. jason: let's talk about asia. you pulled off an ipo there after a false start. the second-biggest behind uber. what does that tell you about that market and the strategy going forward? >> our business in asia is an amazing business.

we are a number one brewer, especially in the premium segment. in china, we are number three in volume but number one and profitability. the idea of the ipo has always been to establish and create a local champion. that could be a part of consolidations, and that did well in southeast asia, mainly. that is done now. shares will start trading next monday. yeah, very happy to be where we are. jason: is that a playbook you might use in other places around the world? say in africa, maybe? or is this a different sort of thing? >> it is very much a mirror of what we had in latin america. we had a local champion listed and controlled by us. it was an amazing vehicle to

stock and get deals with local families in different countries and really expand in the region. we think that same magic could happen in asia. jason: when you think about part of the reason to do this deal was to pay down some debt. how far along are you in that process and what are some other moves you might consider? >> the main reason for the idea was to create a local champion. as we said, we don't need that to get to our target by 2020. but we felt we needed a local champion to mirror what we have in latin america. the proceeds from the us trillion sale, around $11 billion. jason: thinking about the cannabis market, how is that going?

tell me where you are in testing that out? what do we expect to see next? >> what we have is this. we have a joint venture in canada and for canada only because that is where it is legal. at this point, we are only doing r&d. we have not made a decision to commercialize anything. we're only trying to solve issues of nonalcoholic beverages infused mainly with cbd. we have not made the decision towards commercialization. carol: up next, blackstone's jonathan gray on his three threes to measure economic growth and more on the $5 , billion oaktree deal. this is bloomberg businessweek. ♪

carol: welcome back to

"bloomberg businessweek." join us every day on the radio starting at 2:00 p.m. wall street time. you can also catch up on our daily show by listening to our podcast on soundcloud and bloomberg.com. you can also find us online at businessweek.com and on our mobile app. we return to bloomberg's global business forum here's jason with , blackstone's jonathan gray on navigating economic uncertainty. jonathan: you have uncertainty in the world and friction from the china trade. you have got the brexit situation and geopolitical concerns making everybody nervous. businesses are responding by pulling back a bit. you see that in manufacturing industrial data, capital , investment, and earnings. that is one side of the equation. on the other side, the consumer is actually doing pretty well around the world, particularly here in the u.s.. i was talking to a friend about the three threes. we have 3.7 unemployment, wages

are growing north of 3%, and home prices are growing up 3%. the consumer has a job the wages are going up, and their assets are appreciating in value. that is why you see this bifurcation. when you add it together, it leads to not a recession but a slowdown in growth. jason: how much does it slowdown and when? are we in that now? jonathan: i think we are. it is hard to say. the good news is that central banks have decided to lower rates and continue to stimulate. which has softened the blow a bit. it's possible that some of these issues, like china trade, get resolved. which would take some of this uncertainty away. as investors, you don't want to get caught up in the heat of the moment you want to take a , longer-term view. jason: so where are you spending money? i know your investors asked that every time they get on the phone with you. where are you deploying capital? you have got 500 billion plus in assets. jonathan: that's the big

question. when you have slow growth, you also have high multiples. the low interest rate has created expanded multiples. so you have to be cautious in where you invest. we are looking at places where technology is creating change and where they are in the path of growth. industry is in the path of growth. globally, in logistics, we have been the big buyer of warehouses in the world on the simple premise that goods are moving from physical retail to online retail. we are doing things around content creation as a result of the cost of distribution of media coming down. software as a solution, things migrating to the cloud. we bought a big business that does things in the human resource area online. india is another area that is benefiting from i.t. services. as the global economy transforms even though the growth rate is not that high, trying to find

those industries with the wind at their back is really important. jason: are you a net buyer or net seller? jonathan: a bit of both. i would not say there is one clear path. when we find businesses that the buybilized, with it, fix it, sell it approach, we exit. on the other hand, there are many things we hold. you are seeing us sell while deploying capital. we put out 56 billion dollars of capital in the last 12 months. it is more selective and tends , to be in larger situations. carol: jason also caught up to talk about investing at a time of instability. bruce: politically, many countries are up in the air in pretty extreme politics. but on the ground in business, it is pretty constructive. most countries in the world are doing ok.

as value investors, we look for places where you can put money and make decent returns. instability sometimes brings opportunity. you just need to think long-term. jason: let's talk about opportunities. as you say, maybe some of this uncertainty drives valuations down. they have been pretty high, it feels like. are you seeing that yet? bruce: not in the developed markets. valuations are still high. our focus is special situations in those places. but europe is being driven by interest rates that are really low today. india has a situation where the financial system needs capital. there's a lot of opportunity there. and in china, we are seeing more opportunities because of the deleveraging going on in the country. that's a positive and creates opportunities. jason: you mentioned china. u.s.-china trade continues to be

top of mind. how does that play into your investments or thesis about the world? bruce: our business is about buying real things, real assets. we buy pipelines, toll roads, real estate renewable power , plants. they are local investments in every country. we are in 35 countries and are a local investor. trade does not really affect us. on the margins, it does. if it affects a country's economy, it affects currencies and global investments. but we are in on the ground -- ground investor, trade is not as important. jason: let's talk about one specific situation, brexit. we had a boris johnson leave here early to get back. we will be hearing from him later on today. you are a big landowner and a big landlord in london. canary wharf has been a big

project. you have got a lot invested there. how does that play through? bruce: business has been good since brexit happened. every day this gets extended and nothing happens, fewer decisions get made and that is not helpful. in the fullness of time, getting something resolved will be good for everyone and london will be a center of commerce for a long time. we just need a solution, that's all. jason: you are about to combine officially with oaktree. what should we expect in the near term in terms of opportunities? bruce: we have announced closing on monday. we are excited and thrilled to partner with their team. we will help them in any way we possibly can. we think it is an added benefit to our institutional clients. in the world we are in, where

low rates are pushing money into alternatives, our general private equity real estate franchise will benefit and we have a credit offering to add to that. carol: up next, how surfing is splashier then ever in the land of the rising sun. this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." 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. a.m. 960 in the bay area, london on dab digital, and through the bloomberg business app. we turn now to this week's pursuits. here is our editor on japan's surfing sensation. >> our opener is a profile on

kenoa igarashi, the sixth-ranked surfer in the world who grew up in huntington beach, california. but he is surfing for japan in the 2020 summer olympics, the first time it is an olympic sport. jason: and he is a phenomenon in japan and has launched that sport to popularity that is only rivaled in the united states. and even on a per capita basis, it sounds like there are more surfers in japan. >> there are about 2 million surfers in japan and about 126 million people there, percentagewise, more than the united states. surfing in japan has been big for a long time. the waves are reliable and there are great, remote beaches. but he has transcended the fame of surfing. he is famous for anyone. he is movie star famous there. carol: you guys talk about a typical day for him, signing autographs and doing press conferences. tell us about the things he is involved in.

>> he wakes up in the morning and he's in california, surfing with kelly slater. he does a photo shoot, then he flies the tokyo and he does another photo shoot. it never ends for him. he has a ton of energy, he's a young guy and he thrives on the fame. some athletes don't always love that, this is like his thing. jason: this is a guy who is literally bred to achieve what he has achieved. it is an amazing story. it is similar to richard williams and his daughter. >> venus and serena, it's exactly like that. his parents were hippies living in california. they decided their thing was that their kids would be incredible surfers. when he was seven years old, he was out on the water by 5:45 so that he could surf for a couple of hours and be in school by 7:20 for second grade. carol: isn't that amazing? his parents left tokyo and went to california to do this. >> they were in california when

they had him and he is going back to surf for japan. a little bit of home-field advantage because the beach where they are doing that competition is in chiba prefecture, a beach where his dad grew up surfing. he has the real insider advantage. carol: maybe if he wins the olympics, gets more endorsements, maybe he can buy this next car by ferrari. >> hannah elliott continues to have the best job, we center to to italy where she tested the new for ra. it replaces the big sports car you would see and think like, that's a hot ferrari. it has the same twin turbo v8 redesigned, it's lighter, faster, she had a great time. her review is that it is an incredible car, the most beautiful ferrari they have made in a decade and all the critics agree. jason: she even goes to the way

it sounds and makes comparisons to almost a musical note it strikes. >> if you've ever been in a car like that, it can sound like a ripping noise. it can be not beautiful, though it is very powerful. she said the sound of this car is truly beautiful. jason: a great book review as well by bob iger. it's not really a tell all because he's not that kind of guy, but there are some amazing details about his career. not just running disney, but how he got there. and candidly, what he endured. >> the book is called "the ride of a lifetime: lessons learned from 15 years as ceo of the walt disney company." it sounds like [snoring] but it's a wild ride. it has details of following michael eisner, what happened with ovitz and how brief that was, and even when he was competing to get the role for himself, how he was treated.

carol: by a headhunter. don't give it away! >> he is basically humiliated by headhunter. and it's not like he hasn't been at disney. jason: a known commodity. >> exactly. and in dealing with rupert murdoch the whole fox deal in -- and the drama behind that. there is a lot of juice in there and it's fun. carol: it comes at a time when well-known people in the financial community, and in the business community are out there writing books jason: and he is . not done. >> part of the deal with fox's that he has to stick around. they are launching a streaming service, and all of the stuff they are doing with pixar. the streaming service may be the period at the end of the sentence. carol: we are available online and through our mobile app. and definitely check out our

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david: a lot of young lawyers who are not happy practicing law would love to go work for the commissioner of the nba. how did you do that? adam: honestly, i got incredibly lucky. david: you said players have depression and melancholy. adam: they are no more immune from mental illness than any other sector of our society. david: you encourage your players to be involved in social media. adam: it is in our business interest to demonstrate to our fans and the greater community these are multidimensional people. >> would you fix your tie, please? david: people would not recognize me if my tie was fixed. but ok. let's leave it this way. all right.