♪ carol: welcome to "bloomberg businessweek." >> we are inside bloomberg headquarters in new york. carol: this week, a special look at the year ahead. this is the issue with everything you need to know for 2020. from politics, power, to the global economy to technology and trends in the luxury space. >> coming up, we hear that the real threat to trump is not

joe biden, elizabeth warren, or impeachment it's recession. , carol: and 2020 will bring about the great antitrust reawakening. the question is not whether to break up companies but how the laws are enforced. kailey: much more ahead. we begin with joel weber. start of a new decade, what are the big things we needed to be watching? >> you hit a couple. recession is one thing everyone is weary of. it has huge implications of -- for the global economy as a whole. we give a survey of the world outlook as a whole. 2% growth is what has been a projected but there's always a chance of it being revised downward. it comes down to the u.s. consumer. in many ways, the global economy is on the back of the u.s. consumer. carol: from the economy to elections.

>> and the u.s. is not the only place where there will be elections. that is an expected story. we can say elections, that's going to be a choppy sea. another place that will take up bandwidth is the antitrust conversation. in a way dominate d.c. that harkens back to the 90's and the last time antitrust dominated news. we think this might have a different takeaways that it did in the 90's where ultimately nothing significant happened. we think there are more serious things that could happen. kailey: that could be a big implications for the markets when it comes to these big tech

names. >> we basically tried to take antitrust as a theme and look at it from every possible way you can. from how elizabeth warren can break things up to the players you need to know about to going back and looking at case studies of how the laws could be enforced. carol: it is a must-read. if you want to understand the players, issues, and the law. >> the other must-read is 50 companies to watch we start with 2000 companies that bloomberg intelligence evaluates and filters it down the companies they are bearish on. we are not making calls, but they are ones we feel will be interesting and everyone should keep in mind. carol: what i love is if you go online. you can play with the list. >> the sorting ability is neat. you can find out companies that excel at women on board's -- or earnings. carol: for a look at the year

ahead in politics, let's turn to josh green who joins us from our washington bureau. let's talk about it. what is it president trump needs to be worried about? >> he needs to worry about the fact that the economy, by most forecasts, is trending in the wrong direction. in particular, manufacturing is in a recession. that is key in the group of swing states in the upper midwest that will probably decide the next election. kailey: the demographics and geographics are all important here. is it too important for him to change the game? are we too far gone? >> i don't think so, necessarily. i break this into two lanes. when you look at what trump promised during his first year, he promised even 6% growth across the economy and that is not going to happen. on the other hand, he has had

positives. unemployment is at a 50 year low. the stock market is treading water near all-time highs. and he has managed to keep republican sentiment behind him even as he faces a slowing economy and impeachment. the big unknown is what are the effects of the trade were going forward -- war going forward? we have seen them by it into growth and the economy in states trump needs to win. however, there's still time to strike a modest trade deal. if you were to do that, it would turn sentiment around. carol: what i love is that you break it down into kind of what happened after he came in to the white house and you did see manufacturing jobs coming back. that was a lot of momentum and the tax cuts had an impact. in the last year or so, you have seen that shift.

and as you say, in the key states he won, it has gotten tougher in terms of manufacturing jobs. >> if you go back and look at his term from a macro level, trump delivered. he had the stock market up, manufacturing growing. jamie dimon said trump had succeeded in unleashing animal spirits. the problem is that all of that has stalled out. in large part due to the trade war that he started. animal spirits have gone away, companies are not investing. we are now in a manufacturing recession. that has hurt states like wisconsin, michigan, pennsylvania, where recent polls show all of the top democrats , biden, warren, sanders, beating trump in a head-to-head matchup. that is a flashing red warning signal as he looks ahead to the election. but again, there are bright spots. he still has time to turn the

ship around pull another upset. kailey: let's talk about pulling -- polling and where voters stand. do they still approve? are they still behind him? >> trumps approval has been remarkably consistent. 40% to 43% approval, 52% to 56% disapproval, that has been true throughout everything. through the mueller investigation and now the impeachment drama. most importantly, he has managed to keep republican voters pretty much behind him. he has a solid 90% approval rating. as of now, they are not abandoning him. as we saw in 2016, the electoral college favors a republican candidate. there are areas he has to worry. he has lost enormous amounts of support from noncollege white women which were instrumental in 2016.

he is driving away voters in the suburbs. but he has brought new people into the political process. his campaign believes he can excite voters who do not usually vote and like what he stands for. it will be a test of whether he can turn out enough republican voters to overcome what is undoubtedly a blue wave of democrats. carol: with everything going on globally and in the u.s., we have seen this in past elections. it is ultimately about the economy and how everybody feels. >> it really is. if you look at the three presidents in the 20th century who lost reelection races, all of them were running in a recession. trump is not there yet, but all forecasts show things trending in a bad direction. carol: josh green, thank you. more on that coming up. also, the stock market has a lot riding on the elections. kailey: but one thing could stand in the way of a recession, your shopping habits.

this is "bloomberg businessweek." ♪

kailey: welcome back to "bloomberg businessweek." carol: join us every day on the radio starting at 2 p.m. wall street time. you can also catch up on our daily show by listening to our podcast on apple podcast, soundcloud, and bloomberg.com. kailey: and find is online and on our mobile app. carol: for better or worse markets have become entwined with american politics ever since the 2016 residential campaign. kailey: that shows no signs of changing in 2020. >> it is an awkward position investors have been thrust into. now they have to have a sideline

as a political scientist and gauge where the politics world are headed. it is turning into a market of its own. there are these prediction sites where you can track where the betting community believes the horse race lies in politics. carol: tell us about a strategist you visited. you start off your story with that. >> it's funny, a woman at rbc wrote how she looks at these political polling charts almost like stock charts. she is looking at elizabeth warren as a momentum stock. she said she would advise shorting joe biden. but just because he is waning in momentum. what is fascinating is that so much is at stake with politics right now. obviously, when president trump was elected, politics ruled

everything in global markets ever since. but now some of these democratic candidates have platforms that threaten to upend a lot of the main industries in the u.s.. carol: medicare for all will have implications. >> absolutely. that's why elizabeth warren's ascent in the polls has people scrambling to decipher what it could mean as her plans are all over the place. they are so broad reaching that you have to figure out her priorities and what will she be able to accomplish.

a lot depends on what congress looks like. but a hypothetical elizabeth warren presidency has wall street scrambling to figure out all of the ripple effects. as he said, medicare for all have major implications for the health-care sector. she also wants to raise the minimum wage pressure margins but also provide more spending in the economy. carol: i think it used to be it was thought that if there was a democrat, it was not good for business. if there was a republican, it was. markets would play off of that. but in recent years, we have not seen that. democrat versus republican, is it all good or -- >> there are so many scenarios. is it a democrat with a full democratic senate? there are so many different scenarios. i don't put faith in any of them because they are so unique and the candidates and the economic environments are unique. we have gotten into uncharted territory with president trump doing stuff that no president has done before. aggressively hitting china with tariffs, threatening them elsewhere.

he broke what i think would be the paradigm of the past. you have to just play cards on the table now. carol: one factor standing between the u.s. and a downturn is consumer spending. it makes almost 70% of the economy, higher than almost any other country. kailey: while shoppers have been crucial for growth that is particularly the case now as we look ahead to next year. >> the u.s. economy has always relied on consumer spending. one interesting stat is 70% of the economy is u.s. spending that is consumer spending, in china, it is 40%. the economy is relying on consumers even more so, the economy is technically in contraction right now, cutting jobs with less output. the u.s. consumer is what is propping up the economy. kailey: is the consumer feeling good? >> they are, and that's one counterintuitive aspect of the

story. broadly, economists at big banks do not see recession coming next year. the few bears on the case that one coming, they are pointing to consumers flowing spending and job losses. but broadly speaking, economists do not see a recession coming because the consumer is so strong. carol: you go through a lot of economic data points. consumers are optimistic, right? >> consumer confidence is at relatively high levels. carol: it's remarkable considering how long the expansion has gone on. longest on record, and yet they are still optimistic. >> the data is showing more wage gains coming. if you look at a stat on job openings, it's over 7 million

jobs open right now. that means there's a big demand for labor all across the economy. people are able to negotiate raises or leave for better jobs. raises raise wages, lifting up the economic fortunes of america. as long as that's happening, it's hard to see how this changes. carol: how do you get recession if that goes on? >> exactly. cracks in the armor, so to speak , housing. housing prices are going up, that's a boon to consumer spending because people are spending more. home prices are decelerating. carol: is it because of a lack of demand? >> depends on the market. in new york, for example, the concern is too much supply. kailey: and you have more and more people renting rather than buying.

>> and things like health care costs. if those keep going up. if there is some sort of repeal of obamacare and people have to pay more out of pocket. think about the people on obamacare on low income, that could stretch their wallets. and the job growth. while still positive, it has slowed down. if you are a bear on the u.s. consumer, you see that continuing to slow down. uncertainty about the economy freezes hiring and job growth slows. that could create a cycle of people worried about the economy and cutting back on investment spending. kailey: can the 737 max 8 regain altitude? carol: and what happens when the plane is cleared to return to the sky? kailey: this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." kailey: 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, also over in london on dab digital, and through the bloomberg business app. kailey: boeing reported earnings and the company is confident the 737 max 8 will be cleared to fly this year. carol: while that's good news for carriers, the question remains if travelers will be nervous. here is justin in dallas on what is to come. >> it was grounded for most of the years following two fatal accidents that killed 346 people. no regulator is letting it in their space. it has been a tough year for boeing. kailey: it is not just the fact they need to get planes back in the air that that they need to get travelers willing to go back, right? >> right.

customers really need to face up to how much public fear there is about the airplane. thing is that the safest airplane is the one with the most attention, but a lot of the public does not pay attention to what they are flying. but in this case, they might. there is good evidence people will be cognizant of what they are flying and want to know if it is a max. if it is, what to airlines have to do to get those people comfortable? carol: let's talk about what they are doing. they are going to lay it out. if you make a reservation, they will let you know if you are flying one of these. >> yeah. the three u.s. airlines that have it, southwest, american, and united, all say that they are going to be very transparent in this process and want everybody to know up front when you are buying tickets.

the idea is practical because they don't want people getting on the plane and then having a freak out incident on the aircraft with the crew, social media, etc.. it makes more sense to separate those folks early as possible, human if at the airport at check in -- even if at the airport at check in. they will let you book without penalty another aircraft. we don't know how long that will

last. they have been hesitant to disclose how long that policy will last. but for several months, it will be the case where you are allowed to rebook. kailey: how much of a burden to the airlines have to their in restoring confidence -- bear in restoring confidence or is that mostly boeing's prerogative? >> it is a shared responsibility. but once the governments say this airplane can fly, the airlines are eager to get back into service for financial reasons. that it becomes an airline issue because they are dealing with their own customers and their fears, concerns, and questions. boeing will be involved in doing what airlines ask, but at that point, it becomes an airline-centered issue. that is probably where we will see the most outreach. carol: from the global skies to the supply chain. kailey: here is austin carr about what chipmakers tell us about the undoing of the great semi-conductor supply chain. >> the crazy thing is you don't realize how embedded in the market is every single device we use, whether it is windows pcs

are all the teeny parts that control memory and processing speed. they come from a global set of partners mostly in asia get power so much of what we had in the u.s.. so the big thing we are focusing on is whether or not there will be this great unwinding for a market headed towards more interconnectedness that now might be pulled apart. kailey: so they are in everything, but they are not made everywhere. these things are heavily concentrated, can you map that out for us? >> totally. one thing we highlight is this big ip lawsuit between global foundries about a semi conductor foundry -- kailey: these guys are always suing. >> there's arguments about the legitimacy of the lawsuits. but what they are highlighting, and finding reception on, is not just the corporate consolidation but regional. the company they are suing, tsmc, based in taiwan, they own 70% of outsourced chip

production. that is massive. global foundries says for the most advanced ships at something like 90%. so they are playing up the geopolitical concerns. how concerned should we be that our iphones could not run if we got cut off from the market. they kept referring to the company as being from greater china but they wants to play into geopolitical fears. carol: we have seen that play out, right? semi conductors have been a volatile sector for the duration of this trade war. kailey: every trade headline, semi conductors are so vulnerable. the conversation is how to get supply chains out of china. where do they go and can they do it quickly? >> it's obligated. -- complicated. and analyst we talked to said the immediate impact would be nearly one third of manufacturing would move out of china to places like vietnam,

india, taiwan, elsewhere. which is a compelling, massive shift. the downside is that normally takes a couple quarters, if not years, to relocate. it also means supply chain and component cost will go up quite materially, which has an impact on customers. this holiday season, you might not see prices raised, the fewer discounts. -- but fewer discounts. some companies are having to find their own suppliers or create new supply chains, huawei being a major example. kailey: coming up, will big tech survive antitrust? carol: more from this week's issue. this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." kailey: still ahead, the year ahead will be a big one for elon musk and his quiet courtship of china. carol: 2020 looks primed to be a great year for consumer gadgets. kailey: and we begin with antitrust. carol: social media and tech

companies remain on lawmakers' radars. mark zuckerberg testified this week and got a lashing on just about every controversy. the tremendous power amassed by facebook and other companies gets an entire section in the special year ahead issue. here is one editor of the section. >> it was a very short discussion. antitrust is going to be so important next year that nobody argued against a special section. it was like, yes! carol: because of the focus on big tech companies. >> exactly. they are a big part of the economy and political conversation and 2020 elections. it was pushing on an open door. kailey: talk to us about the politics. we know this is a big issue for trump and his attorney general. >> this is a bipartisan issue. one of the rare issues were both parties seem to agree that big

tech has gotten too big and too powerful. but they come at it from different angles. president trump thinks they are biased against him. especially facebook and google. and he really has it in for jeff bezos. he personally owns the washington post, and so trump likes to refer to it as the amazon washington post. and he things the post is biased against him. carol: that's interesting. folks think this is just a political thing and folks in his administration carrying out what the president wants. but there are some serious antitrust concerns. >> from the democratic side come -- you see them focusing on the basic antitrust and economic issues. they are looking at academic studies that have connected low wage growth and low levels of innovation and productivity to big tech. they see that those companies

are so dominant, so powerful, controlling so much of consumer data, that others can't compete. that that is the reason for all of these economic problems we have had. their issue is coming from a classic antitrust examination. the republican issue does seem to be coming from these companies are biased against us, they are so powerful they are controlling the political conversation and keeping out conservative points of view. so it is an antitrust issue to them, but to others, they see this as political. kailey: this is a new way of thinking about consumer welfare. it is no longer prices, but issues of privacy and control of information. >> yeah. another reason antitrust is so important is that the laws allow cases to be brought if the consumer experience has eroded.

privacy, obviously, has eroded. there are antitrust experts who say you can now make privacy part of antitrust, which is a new thing. carol: the question is also how the laws are enforced. kailey: exactly right. >> we are talking about coming out of an antitrust slumber. the last time the department of justice went after a company was microsoft, 20 years ago. even before then, antitrust had been evolving into this thing where if it did not harm the consumer or push-up prices, the country, legal profession, and courts said it was ok. now you've got tech companies and all of this consolidation that has taken place. people are saying you can't use

the consumer welfare standard because people are getting everything for free. and that is not really get at its power, and what it can do and what we should do about it. so there is this whole movement. a lot of young economists, but others as well, who are saying we need to think about antitrust in a different way. we need to go back to the way we thought about it where just bigness alone is a problem. we need a different set of solutions. kailey: why is now the moment? why 2020? why is this the year of the great reawakening? >> i think there are two reasons. one is the growing awareness of income inequality. i know that may sound strange, but if you think about airlines, there used to be 20. now there are four. that gives them incredible pricing power and control over the labor force.

the second reason has to do with the problems facebook in particular has had. privacy, data, cambridge analytica, the election. the head of the house antitrust commission told me that when cambridge analytica came on, he knew he had to do something. >> and netflix get some serious competition in the new year. kailey: apple smart glasses could make 2020 the year of ar. this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." kailey: join us every day on the radio starting at 2 p.m. wall street time. you can also catch up on our daily show by listening to our podcast. carol: and you can find us online and on our mobile app. back to our special issue. the year ahead. in the next 12 months, four new

streaming services are coming online. it is the talk of hollywood and wall street, the streaming wars. a battle that pits the biggest names in entertainment. in the next 12 months, for -- four streaming services will debut. disney plus, apple tv plus, comcast peacock, and hbo max. for years, the impact of netflix on cable tv was downplayed. now, they appear to be going after the largest paid streaming service. who will come out on top? surveys suggest the average customer will pay for 3-5 streaming services. netflix, amazon, and hulu are well entrenched, leaving room for one or two more. disney plus is the favorite amongst analysts and executives. it will charge $6.99 a month, half as much as netflix and offer a library that appeals to every kid. everything from the avengers and star wars to the simpsons and

toy story. one big winner maybe tv show producers. netflix is spending $15 billion on programming this year while amazon, at&t, comcast, and disney are expected to boost spending to comparable levels. kailey: for more on the services, and if there are enough media hungry consumers, we checked in with our reporter. >> the perception of us people -- of other people in hollywood and wall street is that disney plus is the most formidable. in part because of pricing, but also what it has. disney has the most powerful movie studio in the world and that it has these brands that mean a lot to customers. the on ramp for disney plus seems quite easy. it will be very hard if you are a parent not to buy this. just to save money because you are having to rent or buy movies over and over again.

that being said, i am most interested in hbo max. disney plus could still be an additive. it's not trying to be everything. netflix's enemy is cable. it wants to replace cable television with internet television and have netflix as the number one network. disney plus is a little bit more like a cable network in a traditional sense. it serves a particular audience. hbo max is the only service that is trying to be all things to all people. carol: they have a wide array of programming from the get-go. >> yeah. they combine what you already get with hbo. then they fold in other programming from what was once time warner. that includes movies from warner

brothers, aquaman, harry potter, all things like that. that includes cartoon network. every day, i get a new announcement about a new series or licensing deal they have struck. the amount of press that they are putting out about these projects dwarfs disney, apple, and comcast combined. kailey: there is just so much content. are people willing to pay for more streaming services? is there room for everyone? >> there's room for a lot of them. everybody? i'm not sure. when i talked to the guy overseeing at&t, they suggest people will spend about $100 for tv. some people are paying for traditional cable, a lot of people are paying for cable and satellite. the numbers in the 80 million range, maybe higher. it will continue to go down, but you have people who want news, sports, and live tv. but let's say people will pay for three or four services,

maybe five. that probably means netflix, which is built-in. amazon, which barely counts. and then they add on a couple others. maybe that's hulu with disney plus, maybe disney max. -- hbo max. it's hard to see every single one of these services knocking it out of the park. carol: someone who knows a lot about cable broadcast and streaming is the founder of bbb ventures. she weighed in on the future of cable. >> disney is interesting, i'm probably biased because i worked for the company. but i do think they have unique assets. that is one thing bob iger has done that is incredibly smart. if you look at the movie business that disney has, because of the companies they have acquired. because of pixar, because of marvel, because of star wars,

they have more than half of the billion dollar films that have come out in the last five years. and now with fox, they have an even bigger library. i think they will be hard to beat among the new entrants. carol: is cable dead? there are still like 80 million subscribers, but what happens? >> i think it will take time, but i look at my children and they are not cable customers. this is largely a generational shift. i think that people who have grown up with digital assets and who understand how to use apple tv and roku and can put together their own -- you know, what

would have been a cable assortment. they can do that themselves for less money. carol: some say you could ultimately see a bundling of streaming services. >> i think that's very possible. why not? carol: staying with entertainment, 2020 looks primed to be a great year for consumer gadgets. kailey: i am so ready. >> it will be like the proliferation of faster 5g networks and the devices enabled by that. as well as a big push into augmented reality. kailey: let's talk about augmented reality, specifically apple's glasses. >> apple has been working on this pair of ar glasses since 2016. they have a massive team of hundreds of people working on this project. the idea is that it is basically like an apple watch or iphone for your face.

you can put glasses on and it will have depth of field cameras with different degrees of freedom, as well as holographic lenses. to be able to sort of get emails, text messages, games, maps and such, to be in your field of view. you are not looking at your wrist or pulling out your phone. what you are doing is seeing it in front of you. and augmented reality differs because you do have that line of sight. i could be wearing these right now and looking at you as we talk while still getting information. carol: talk to me about microsoft. i don't always think about them when i think about innovative products. they have got a new surface duo coming out. this looks like it could be pretty interesting. >> they are trying to change the narrative and i think this is under told. we have stories on it, but it is a theme some are missing. these new devices run on android.

that means it actually has a chance to be sold, for people to use this thing. if they launch their new foldable phone on another operating system, it would be dead on arrival. but because it has been backing, it's a phone people will look at. it is a new concept. i think it is a different variation from what we've seen from samsung. it will be far more optimized, and overall, a better product and better offering to consumers. carol: what are you most excited about? >> anytime there are big new categories, it's a very exciting time. what we have seen for years is apple being the only one able to usher in cool new hardware. but what we have seen is a lot more competition. these players upping their game.

it's no longer the point where apple is the market leader necessarily. that's the most exciting thing. everyone is trying to make each other better. it's not something we have seen in a long time. there is more parity than ever which will make everything better. kailey: up next, two car stories to watch in the year ahead. including why tesla's are being built in shanghai. carol: and daimler's designers on leading the way to sustainable luxury. kailey: this is "bloomberg businessweek." ♪

carol: welcome back to "bloomberg businessweek." kailey: you can also listen to bloomberg businessweek live 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: also, a.m. 960 in the bay area, london on dab digital, and of course, on the bloomberg business app.

tesla surprised markets with earnings at the most in years. they are also producing vehicles at the shanghai giga factory. kailey: if elon musk delivers the first chinese-made tesla model three for customers this year, it will be a rare case in which the companies famously scattered a ceo will hit one of his notoriously ambitious deadlines. >> the first foreign owned automotive plant in china. it's in shanghai and the factory was built in record time. it was roughly six months. carol: talk to us about the pace is all came together. kailey: from permits to car is ready to roll, how did it come together so quickly? >> china is interested in showing it can open its economy and tesla is interested in china is china is the world's largest auto market. elon musk traveled to china and -- in 2019 for this official

groundbreaking, and since then, we have seen all kinds of drone footage and photographs of this massive building. carol: take a step back. we spent so much time talking about the trade wars out there, and yet, elon musk, in record time, said he was going to do it and actually built a facility over in china. how did he do that? >> you need the support of the chinese government. china is known for fast construction. they are masters at building cities seemingly overnight. but to get a factory up and running, you need support from the government for permits and power. tesla basically, they secured the land and financing. construction began. power was connected. this would not have been possible without support of chinese government officials. carol: he got support. what about u.s. government officials? i'm thinking any executive in the united states, if they talk about manufacturing in china, there is a lot of criticism from

washington. >> absolutely. but interestingly, you have not seen musk talking about the trade war. except that he has been complementary about the chinese government. he has remarked several times about the speed at which china gets things done. he has been enormously complementary and president trump has stayed totally quiet on tesla. kailey: let's talk about elon musk and his twitter and the expectations he sets that are not always on target, especially when it comes to production. walk us through the capacity expected at this factory. how many cars will roll off a week? >> in april, musk said he was feeling very optimistic. he expected the factory to produce 1000, possibly 2000, cars a week by the end of 2019.

if they do produce cars in that volume, he would hit his target. which is not something he is known for. carol: talk to us about how china, specifically as a market, what this means for tesla's future. >> china is tesla's second largest market outside the united states and then followed by norway and the netherlands. in terms of raw volume, china is hugely important to tesla. as we see signs of a possible economic slowdown in car sales, both in the united states and abroad, you have to focus on markets where car ownership is still new. in china, that's the case. you have a growing middle class and aspirational buyers. it is a huge wealth of opportunity. carol: staying with sustainable cars, when it comes to luxury, our resident car expert caught up with daimler's chief operator to -- chief officer to talk about what is to come. >> he is a superstar in the car world for his designs.

if you drive basically any mercedes these days, he has designed all of those. he has been very influential. carol: been there for a long time? >> since 1997. but he is still pretty young and he is the one who has been doing these crazy, conceptual cars. if you follow him on instagram, it's great. he will put up photos of taxi drones that are like flying devices he has conceived. i spoke with him, and he's great. carol: i love concept cars. you wonder how much of this will be a reality. you talked about that. >> he is great to talk to because he looks like a very clean-cut staunch, german man. but he is a really open, freethinker, and he says look, i am already living in the future.

we can certainly expect flying taxi drones and if you think about it, planes are already using autopilot technologies to fly. so autopilot, self driving vehicles are easier to do in the air than on the ground. so that's kind of exciting. kailey: i want to shift gears to sustainability. you asked him if sustainable luxury was an oxymoron. >> immediately, he said no. the key to luxury is sustainability. he said luxury is being admired by society for any number of things. for your success, intelligence, whatever. part of that admiration requires the responsibility to society and sustainability is how you show that responsibility. does that make sense? he basically says, look, if luxury is going to continue with -- continue, it has to be

sustainable. carol: bloomberg businessweek is available on newsstands now. kailey: and online. carol: find more on the year ahead including 50 companies to watch. the analysts who tracked 2000 companies identified in the businesses that will make news next year. so much great stuff. what is your must-read? kailey: all about the recession. are we going to get it in 2020? what are the implications for the elections? i loved that piece this week. carol: just a reminder, it's about the economy, stupid. i think about that slogan. kailey: what is yours? carol: the deep dive into antitrust. i think this will be a big issue on the campaign trail and it's already a big issue in washington. what will happen to big tech? could we see it broken up? i just feel like the magazine went into all of the issues and what you need to know. i loved it. kailey: it takes us through every single detail. you can also check out our daily

businessweek podcast, available on apple podcast, and soundcloud. carol: more bloomberg television starts now. ♪

>> so why do you think some people do not believe that there is such a thing as climate change? >> they must not have taken a science course or something, i don't know. >> if you met with president trump, you could convince him on paris or is that beyond your capabilities to do that? bill: someone else should do that. david: are you worried about the power of a.i. to disrupt our civilization? bill: the increased productivity that will come from a.i. will create dilemmas. >> will you fix your tie, please? bill: well, people wouldn't recognize me if my tie was .