♪ taylor: i am taylor riggs in san francisco invert emily chang and -- in for emily chang and this is "bloomberg technology." london transit authority refuses to renew uber's operating license over concerns about passenger safety. the company valves an appeal. ebay is selling stubhub to european rival via gogo.

we will have details. going global. amazon joins forces with chinese retail app. is it a sign that black friday is broadening its reach. first, our top story. uber's future in the city of london is looking bleak. not allowing a license, the reason i'm a rider safety. thate mood in london is uber will have to follow a similar procedure has a few years ago. in 2017, it was denied a license the first time and it immediately appealed. ongoing,s an appeal is they are allowed to continue. wilbur said that they will appeal the -- wilbur said they

will appeal the -- uber said they will appeal the decision. as long as that appeal carries on through the courts, then it can stay on the ground. the question will be whether the company can make the changes in its software to allow tfl to feel comfortable that it is worthy and whether it is fit and proper, as they say. fixedaid it has already one of the main problems that tfl had with the app in the first place. but we will probably have to wait until the spring to get any answer from the courts. taylor: uber ceo dara khosrowshahi responded, saying, we are held to a high bar as we should be but this decision is just wrong. over the past two years, we have fundamentally changed how we operate in london. we have come very far and we

will continue going for the drivers and riders who rely on us. london mayor sadiq khan said much more needs to be done in regards to safety. n: i am keen for london to be a hotbed for new technologies, businesses, but uber passenger safety has been compromised. taylor: for more, i want to bring in bloomberg technology's eric newcomer. uber says they are a technology company, so walk me through how the technology of this map -- of this app left so many vulnerabilities? eric: drivers were able to get on the platform even though they were not the right driver or properly licensed.

rides with a driver who should not be giving the ride. that is a big concern for them. correct theing to mistake. about these questions whether the right drivers are giving rides is not a problem that uber wants to be having. taylor: you talk about them being on the ropes again. in your story, you point out it was september of 2017 when they temporarily had their license revoked as well. what changes have they made over that timeframe? the company has undergone a cultural shift under dara khosrowshahi. 's benefit and detriment. it has kind of slowed down in terms of coming up with new ideas, new, exciting products.

on the other hand, the company has tried to crack down. this is exactly the kind of area where the company hopes under dara to be winning. it is unfortunate for the business to make that happen. taylor: to not be hostile, not be dogmatic, but try to create a more friendly working approach. is that the approach they are taking and is it working? eric: i think dialogue, working with cities, countries of estates everything in between, but when they disagree, coming out and saying it. in the california fight over independent contractor rules, they did sort of say, the referendum, we will put money behind it. we are a company that will throw

our weight around more than they might have had after travis kalanick left the job and reputation was in tatters. i think they are still trying to play the cooperative nice guy to the extent they can. 'sylor: talking about uber response, i want to bring in a soundbite from the head of the u.k. in uber. >> in the u.k., one thing we are intended to launch soon is driver face matching. essentially, a technology that has been in the u.s. since 2016 that means that drivers can only logon their account and start trips once we've allocate either through automated means or human identifiedhave either through automated means are human contact that they are they are. taylor: does this appease any of the regulatory issues going on right now? eric: uber is stuck in this

situation where you can have privacy or safety but you might not be able to have both. there is a sense that wilbur wants to -- that uber wants to videos, voices in the car. , where weall areas can give you privacy and more safety. that will be where the big debate will rage around uber, where they will take big hits both ways. it is a question of how much people want uber to oversee a given ride versus we are matching you with the driver and what happens is between you and the driver. clearly, people think that uber needs to police those rides. that means rolling out some kind of surveillance.

technology'sberg eric newcomer, thank you for joining us. elon musk is at it again. by that, we mean tweeting. reservations, this time for 200,000 deposits for the cyber truck. this, despite an infamous lunch last week where the supposed shatterproof glass shattered. 200,000elieve the reservation number even though the deposit is $100 and that is refundable? >> i believe it. i think this truck does have appeal, particularly to younger people, people in l.a., gamers. that looks like nothing else on the road. so even though the vehicle is far from production, i believe that 200,000 people have put down reservations. taylor: it has been three days

but i cannot stop watching the video, shattering that glass. what is there reason that they have been coming out with about why that class shattered -- why shattered? tweeted out a video of testing the glass. he tweeted out yesterday, when they hammered the car with a sledgehammer, that somehow hurt the glass. that doesn't explain why the second window also shattered. there are still a lot of theories floating around about what happened. taylor: my producers and i were talking about this, saying, wouldn't you want your window to be able to shatter in an emergency situation, say you have driven into the ocean or something? what did you want to get out? >> that is a legitimate question. in an emergency, how do first responders break the glass?

taylor: i want to talk about on the statistic in your story, where you have the base price about $40,000 but of those orders, it looks like more work -engines, the dual models. >> this is all just based on elon's tweet. he said 42% had ordered the highest end, and another 42% had ordered the $50,000. but these are just deposits, you can't configure your car until closer to production. but it shows that there is not as much appetite for the lower end version. taylor: we were speaking to gene munster and i can illustrate this. he said the pressure is sort of off tesla right now. they have really good leeway, good legroom to run here given

that their cash flow has turned positive, they are more profitable. this gives them more time to look at that production target. do you agree that they are in a fairly decent position to be looking at the cyber truck and production? >> their goal has really been to disrupt every segment. the ford f-150 has been the number one selling vehicle in america. electrify, they need to take on trucks. they had that surprise third-quarter profit. taylor: wonderful. thank you for joining us. shares of hp enterprise are falling in after hours trading after last quarter's revenues missed estimates. the good news for the company is that current quarter adjusted eps guidance came in at the high-end of the range of analyst estimates. paidg up, in 2007, ebay

$210 million. now they are selling the ticket retailer for $4 billion. details on the all-cash deal for stubhub, next. if you like bloomberg news, check us out on the radio, the bloomberg app, bloomberg.com, and in the u.s., on sirius xm. this is bloomberg. ♪ erg. ♪

selenite -- ebay is selling its ticketing forness stubhub to viagogo $4 billion in cash. ebay bought the company back in 2007 for $210 million.

to discuss, leanna baker and jitendra waral. 's perspective, what are they trying to gain? liana: what they want here is an entry into the u.s. market. aboutally are paying up $4 billion but they brought in some investors. it is a homecoming. eric baker, the founder of viagogo, was one of the founders of stubhub. taylor: eric baker has talked a lot about making this a global company. he was excited about reuniting these two. is that really the play here as andogo gets the u.s. market

stubhub can have a global reach as well? liana: that is the strategy because viagogo is not really present in the market here. it is a fragmented industry. any competitors trying to bid on the business. founders have really gone out and founded a a lot of companies that market. it is going to be competitive. stubhubcoming in with has a good chance with having a good brand ebay was under pressure to sell this so, clearly, it was not fitting in and it was looking for other .venues taylor: they said today that this deal would be unlocking a lot of value for ebay. what is your analysis? jitendra: it buys them time to fix the core marketplace, which was going to take time.

it can help fuel profit growth. the other asset sales scenarios. other restructuring avenues. is more room for operating expenses to go down. the fight, amazon and coming next year with facebook entering the e-commerce market, we still don't have an answer yet. we are still waiting for the ceo. it buys them time to drive that profit growth. taylor: in your years of covering this company, why haven't they been able to keep up with amazon? what has been the biggest headwind? jitendra: the biggest headwind really has been the muscle memory developed with it can

consumers -- with its consumers through prime. loyalty and things like that. ebay has missed out on that opportunity for a while now. once you sort of lose share over there, it is harder to get more than -- it is harder to get mind share more than market share. the opportunity in front of ebay now is to focus on things in front of them like advertising, payments. restructuring, if you look at the valuation for the company, it is reflecting that topline slowdown. beginning to be seen more essay a revenuewth story of growth story. longer-term, the strategy if they focus on verticals, the partnership with the upcoming e-commerce players.

they wait and see but, at least for now. i was hearing about 25 times ebit. are there any calls that this may have been an expensive purchase? ebay has been working with goldman sachs for many months to find the highest bidder. it was competitive. different firms really wanted this asset. that really drove the price above $4 billion, which was higher than what we expected. we expected between $3 billion and $4 billion. viagogo had to bring on other investors to fund this because viagogo is a private company and not well-known so they had to get funding from jp morgan and others to make this happen. taylor: thank you both for joining us. the ceo of the new online

marketplace and platform can battle rivals like amazon. we will hear how he plans to do that, next. lumbar technology is livestreaming on twitter. technology.t @ this is bloomberg. ♪

taylor: let's get a look at the top tech calls. loop capital markets upgraded lyft to a buy. they say the company has strong execution and benefits from an improved competitive environment share gain and margin expansion to continue with the growth. aother company upgraded from , saying the company had

turned the corner with the android app. the company says snap is seeing the highest and revenue growth of major platforms. netflix downgraded to an underperformed by analysts at wells fargo, saying it offers growth at an unreasonable price. wells fargo analysts say it will keep content and marketing spend elevated and that could cut down growth in average revenue per user. a company competing in a highly crowded market of e-commerce but it aims to take on rivals like amazon and macy's by solving problems they cannot. the ceo and founder, imran khan, spoke to scarlet fu and romaine bostick. quick 10% of overall retail sales. wenever a market gets 10%,

usually see escalated disruption. we saw that with netflix. we saw that with digital advertising when digital advertising reached 10%. i think e-commerce will be 30%, 40% of the market and there will be new players. the second big thing, i think the consumer's loyalty to brands have been decreasing. i think the millennials are willing to try a lot of new brands as opposed to their parents generation. we are seeing a lot of new brands popping up. there are not a lot of good places to discover those brands. consumersforms, for to discover a lot of cool brand. the third thing, we are also seeing that a lot of the large brands which are heavily dependent on department stores, a new avenue of distribution, and we are becoming a situation

platform for them is -- a distribution scarlet: scarlet: platform for them. -- a distribution platform for them. scarlet: free one-day shipping, will that be a permanent feature? this can become costly. imran: we believe that a consumer shops for price, quality, convenience, and selection. a brand is a promise and verishop's promise is that convenience is an area we will focus on. how can we deliver the product faster, better, more efficiently? the secondis discovery . a lot of these new discovery brands you would not find anywhere else. what is the advantage here? you're bringing in all these new brands but i a lot at macy's or department stores would say, we are already doing that. imran: i am going to go back to

the verishop promise -- romaine: about a broadening market? imran: number one, in terms of discovery, if you look at our top 10 brands in men, women, home, and beauty, probably more than half of them, you will not find at any other department stores. they are really discovery brands. taylor: that was verishop cofounder and ceo, imran khan. coming up, taking black friday global. amazon is using the shopping day to get back into china but it is not going it alone. details on the new partnership, next. this is bloomberg. ♪

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taylor: this is bloomberg technology. latest news. the let's take a look at the top lobal tech stories of the day, paul. paul: thanks, taylor. billion tinder for troubled we work according to sources, the offer is set to on april 1. this comes as wework announced ast week it was laying off 2,400 employees around the world. of its about 20%

workforce. increasing its bid on payment app.obile the chinese internet giant is million series c funding with plans to use the funds to triple its team to over the end of next year. it will also expand its loan expand new business units. soft bank is also involved in the funding rounds. and britain's top phone company s looking to reduce its reliance. of are connecting millions homes to optic fiber. cited as ah has been security risk by the u.s. overnment has a share in microcomponents. those are the top global stories watching, sherry. to take black friday global, it might be with the new deal with china's number retailer, amazon

ust opened a storefront and starting on thanksgiving will campaign to offer chinese consumers a range of overseas products. the partnership will continue of the year. this comes after amazon shut chinese marketplace in july. let's bring in bloomberg's spencer in seattle. will benefit more, amazon or pinduoduo here? spencer: that's hard to say, to a huge an exposure market and potentially make a ot of big sales for products that the key will be to distinguish themselves with products that either people on the other platforms or they are simply more items nt getting those from an amazon storefront. a lot can here address consumer confidence on the authenticity of those because that's

something alibaba had tried as well, it even encouraged stores like macy's that are no more for western open stores to try to validate the authenticity of those products to chinese because they're very worried about fakes. you wrote in , your story how amazon had exited china back in july because it make enough progress. how dependent on china in the uture chinese consumer is amazon? spencer: well, it's a huge market. now, u think about right you know, there is definitely thoughts about amazon hitting or saturation point in the u.s.'s primary market. by going broader, rather than deeper into individual categories it's already in, it keeps adding more and more categories, what are the limits of that, investing india.y in it doesn't have to win everything or be dominant in lot of still get a

business from china because it's such a tremendous market. alibaba and that amazon have been swicialing around each other for some time. pulling outd amazon of china. alibaba very briefly had some store, effort to open a an online store in the u.s., i can't remember the name of it main or 13 like 11 main or something like that that hey opened and just as quickly shut down. taylor: so, spencer, could this amazon again lp retake that number one position n the world's biggest shopping event and remember, i think they single day alibaba a recently, right? a single-day individual shopping event and so could or generating more interest in china about black friday, retake it, i suppose it could, but i don't that's the end goal.

it is simply a new market, a day area, you and an know, kind of a regrouping of china,tirely giving up on how can we still get into china even if we're not dominating, scraps, e pick up some there is sizable scraps when you think of china. aylor: spencer, you talked how the p.d.g. and amazon partnership extending through any chance ecember, this could be a longer term partnership? certainly. amazon, if it's going well, amazon is certainly not going to arbitrary to some deadline. it would seek to deepen that elationship and continue the success. so absolutely. acquisitions if are certainly, you know, potential things that amazon has bought its way into other think of markets, we the middle east, absolutely, amazon is looking for ways to enter there and would look to success that they

have. hery: are there any specific measures that the companies will take a head of this big event, restructuring to align those two businesses together to prepare for this? i'm sorry, you mean between amazon and -- pinduoduo. spencer: i don't know about over a single day or anything like that, that would be further down the line i further, youe were know deepening of the relationship. to bloomberg'sou spencer soper. stories to come, that is next, this is bloomberg. ♪

taylor: the company known for its zoomable platform launched a of it.ersion it's a video recording software graphics in rs add real time and having their face on the screen next to the visual presentation. the joining us to discuss how it could change video conferences shifting ek's work segment, it is prezi core and c.e.o., talk to me more about this video and how internal o increase communications with it for corporations. on r: thanks for having me the show, taylor. we just launch thissed product for people tod it have something to say and made it possible for people to their ideas in their hands. now, this is, of course, something that weathermen have for ages.to do they have an entire studio to do that. we have done is made it ossible for anyone with their

laptop and camera to be able to do this and it's also possible live not just in situations in a meeting like the also 're doing now, it's possible to do and record that you tion so that unless don't have to learn a complicated editing tool. these actually create presentations in a matter of minutes. taylor: peter, this is a technology show. i have guests on this program constantly talking about the workforce really that is going to be the future of all of these businesses. is this really going to help the future that is a remote workforce? peter: definitely. company rezi is a itself with cross continental setups, so i have flown a miles myself in order to have engaging meetings. it's hard to do engaging and particularly in a remote set up. what we found with prezi video

yes, in fact, when you're able to hold these ideas that r hands, you create personal and human connection that really engages more people, do webinars for example, which we just started doing as e launch the product, we see that people engage much more and tay attune to the message much longer. taylor: well, along those lines, ou had some fascinating statistics saying that on average people lose attention after 18 minutes. seem to think that a video conference should be no longer than 24 minutes. to do with plan those statistics? peter: well think we're going to revolutionize the world of video. in fact, this has been our company.n as a people choose prezi today ecause it helps them engage audiences, whether it a remote situation like we're in right meeting, we ive have over 100 million people who

have said we're going to move from slides and into the prezi world and then in turn the world's largest library of presentations that our site now, n over 400 million of them. not just that this is important to a lot of people, we also know just how much more is important. in fact, thanks to harvard researchers, we can see that this change, ke they are 25% more effective than only use slides. taylor: peter, another interesting note that struck me a person's face can go next to the video presentation which sort of lends credibility want to account for that data because frankly your is next to it. are people comfortable with that? seen in the e have two weeks that we have been around, definitely so. f course, with younger generations, people are natural or the weathermen from the

git-go. for some older people, it might take a little bit of time getting used to it. see a lot of excitement around it. taylor: what can we expect from next? eter: i think we will continue revolutionizing the workplaces, but also the schools. think about it like this. your ow, if you have schedule in front of you and you ee that a bunch of it is busy with meetings, how do you think most people react? taylor: who are you targeting in perspective?siness peter: yes, what we see that when they see these meetings, they react with dread, h, no, we have a bunch of boring meetings, but it can even be worse than that. and n be a matter of life death. in fact, there is only one tool n the world that has death associated with it, death by

and that's the engagement we would like to change. it to d like to bring salespeople, marketing people, education.also in we have a lot of people meeting first time in the schools. it's teachers who care about engaging their opportunities. first ones to the adopt prezi as well. prezi's, p.r. guy, thank you for joining us. of r the recent debut disney+ and apple tv-plus. dominate thats to crowded streaming market. that is next. this is bloomberg. ♪

taylor: google told staff on onday that it fired four employees over what it called clear and repeated violations of data security policies. in information was conveyed an email titled securing our data. it comes at a time when tensions arisen between the

company's management and staff. some workers say that the to any is wrongly trying interfere with their ability to unionize.d now netflix's internal data says yet to aming giant has be hurt by the launch of rival services from disney and apple. the numbero sources, of user cancellations has not debut of d around the disney+ and apple t.v. for more on this discussion, we lucas and today he is coming from new york. lucas, i just wonder, what do we sort of about the early numbers that we're getting from netflix at this point? numbers out ofhe netflix or about netflix thus far suggest status ". it's almost as if there is not competition. the external measurements, the have that data analysts used like google search trends numbers ownloads, the are snroor what they were a year ago or perhaps even better. suggests that the

internal number, the number of people canceling is also unchanged. is a very small sample size, most of the people ho signed up for disney+ or apple plus are on some kind of free trial, the real effect of new competition probably won't six months, 12 months, but that being said, wall street analysts are paying attention to this and netflix's next earnings report which will be early next year, scrutinizing whether they beat or missed, they'll possibly blame it on disney or are not the those root causes. we or: lucas, why aren't seeing more churn in netflix? you : part of it is, if believe the c.e.o. of netflix, his theory is people will add on to netflix, much as as consumers move from linear satellite cable and to streaming, they'll sign up for multiple services. netflix sold itself as the base something that everyone

needs to have. you may have people who have for apple,es who pay hbo max appears to that core hbo customer and overlap between all these. that's one of the reasons. the other is what i was talking new, earlier, it being so i don't think it's likely you'll see somebody decide on day one, disney+ and p for cancel netflix right away. maybe they try disney-plus for a couple of months, they like it so much and it satisfies they need, then they cancel netflix. it's too soon. mentioned eone had that netflix is missing out on 1 billion in revenue because they don't have an ad supported model, clearly are subscription-based. you think of netflix doing a different tier subscription where one is more ad revenue-based? lucas: no, this gets talked time.all the it does make some sense from a revenue perspective it would them in a lot more, allow

to monetize their giant customer base in a different way. c.e.o. is adamant that the netflix is core users is that its it's adfree streaming. as a c.e.o. he likes to be very focused. execute on one thing very well, keep it simple for your simple fornd keep it the customer, you're more likely to do well. i can see netflix trying to offering into o other areas, there is also talk gaming,aybe music, maybe something like that. i have a hard time of going to dvertising unless they are really desperate and they need an answer. if you see growth slow for netflix, the company's will have to explore alternatives. right now, even though they're this year le bit relative to next year, they'll add something like 26 million ustomers, no need for them to continue change the strategy yet. taylor: lucas, we talk about tv plus and pple disney+. on friday, i spoke with an covers at&t, they

own hbo. how does hbo streaming service into the broader streaming wars for lack of a better word? lucas: it's the most interesting one in some respects. it's the most direct competitor o netflix in terms of the breadth of offering. disney competes with netflix if disney+ and her hulu. hbo max, they are netflix's the tition, hbo is already competition at the emmys every year in terms of premiumum comedies. hbo has historically been the ome of a standup comedy that netflix has correspond. if you look at the volume of new programs that hbo max is going the streaming r service, they're going to be pumping out such a wide breadth adult ds all the way to dramas that are really inappropriate for children that it's the most direct it's the most expensive also, $15 a month and the same price as hbo, more than netflix, more than disney+ and hulu combined. the ery interested in what

big market is for hbo max beyond core hbo customer. taylor: bloomberg's lucas shaw on the streaming wars. joining us.r speaking of all of these new edia companies, there is a new integrated platform, it's the between networks. venture claims over 2 million registered e- sports 100 million reaches monthly active users. tomew york to tell us more, rogers, he was the c.e.o. of what nd the president of used to be nbc cable and he will be the executive chairman of the endeavor. tom, great to have you. what does the company look like eyes, it's a merger of three different companies coming altogether? tom: it's the antidote for what lucas was talking about. the entertainment world moves

to streaming, you have the big question, it means that there ill be more and more cord cutting, more and more decline televisionnal linear and what people expect will be less of live tv as entertainment goes elsewhere is news and sports. that raises a major issue, how news and sports drive new sources of revenue as a subscription fees that came from satellite are no longer there to support them. stands for e for e- supports, n- for news, g for sports gaming in particular as an interactive think much of the revenue that will be needed to upport those forms of programming going forward are mobile platform expertise that to the table. taylor: and really, you talk about this being a live experience. give me a real life example. a : you're watching

the tball game, you have app in front of you and you are predicting what is going to happen as it goes. playing against others socially, anonymously or friends and family. you paid to skill enter. at the end of a quarter, you may some money as you play against 20 other people in your room. have an immersive experience. another example would be e- sports tournaments might be "fortnite," might be 2000, torque has a competitive platform and of nament pricing for all the kind of contests that are already available on twitch you can extend that twitch broadcast to the platform to in w viewers to play along real time predicting what is going to happen in an e-sports ame like you would in

traditional sports. a number of ways to drive stations a stable of that are generating news revenue television, i'm sorry mobile platforms that frankly has in place and able to promote ontests that radio and tv has done for a long time. another way for them to participate. taylor: tom, you have been decades of change within the media landscape. what is your view on the future streaming wars? surprise nk it's no that netflix is not suffering netflix and i think will continue to thrive. this a the big thing is global game. e- sports is global. people aroundlion the world participating. netflix great strength is the many people ach so internationally and with that it's ility to amortize

programming expense and it's massive programming budget which players y of the other in terms of their programming. so this is no longer a national game. this is a big global game and whether it'sources sports and news or entertainment increasingly going to be about global capability. rogers, winview games, thank you for joining us. i want to bring you some news we getting here. trump's ex-counsel has been to red by ajudge to testify congress, a ruling could help compel other trump officials as do know estify and we that a house panel is examining theher trump has obstructed mueller probe. the ex-counsel mcgann has been testify y a judge to for congress. we'll bring you more as we get it. this edition of bloomberg technology. live streaming on twitter.

out at technology. follow our breaking news network on twitter. this is bloomberg. snroet ♪ ♪ ♪ ♪ ♪ ♪

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paul: good morning, from sidney. shery: from new york, i'm shery ahn, welcome to day break asia. hour, a stories this onday launder scandal claims one. big corporate deals help lift schwab kicks off