taylor: i am taylor riggs in san francisco 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 vows to 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. they are not allowing a license, the reason i'm a rider safety. >> the mood in london is that 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. as long as an appeal is ongoing, they are allowed to continue. wilbur said that they will appeal the -- wilbur said they it willsaid today 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. uber said it has already fixed 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. mayor khan: i am keen for london to be a hotbed for new technologies, businesses, but uber passengers 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 app left allowed those 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.

they are trying to correct the mistake. having these questions about 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? eric: the company has undergone a cultural shift under dara khosrowshahi. to uber'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. taylor: talking about uber's 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 identified either through automated means or 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 uber wants to look at videos, voices in the car. these are all areas, where we 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. taylor: bloomberg technology's 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. can we believe the 200,000 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 that glass shattered? >> first elon 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 upgrades, the dual-engine 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. in order to 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. coming up, in 2007, ebay paid $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. ♪

taylor: ebay is selling its ticketing business stubhub to viagogo for $4 billion in cash. ebay bought the company back in 2007 for $310 million.

to discuss, leanna baker and jitendra waral. from viagogo's perspective, what are they trying to gain? liana: what they want here is an entry into the u.s. market. the really are paying up about $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 viagogo gets the u.s. market and 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. many competitors trying to bid on the business. the stubhub founders have really gone out and founded a a lot of companies that market. it is going to be competitive. viagogo coming in with stubhub 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 avenues. 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.

it also helps the other asset sales scenarios. other restructuring avenues. there 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 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. i think this restructuring, if you look at the valuation for the company, it is reflecting that topline slowdown. beginning to be seen more essay -- to see ebay more as a profit growth story of a revenue 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. taylor: i was hearing about 25 times ebitda. are there any calls that this may have been an expensive purchase? liana: 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. bloomberg technology is livestreaming on twitter. check us out @technology. 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. another company upgraded from a buy, 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. whenever a market gets 10%, we 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. these platforms, for consumers 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 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. romaine: 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. ♪ here, it all starts with a simple...

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taylor: this is "bloomberg technology." we have the latest news. let's take a look at the top global tech stories of the day, paul. paul: thanks, taylor. softbank is launching $3 billion tinder for troubled we work according to sources, the offer is set to expire on april 1. this comes as wework announced last week it was laying off 2,400 employees around the world. that is about 20% of its workforce.

tencent is increasing its bid on argentina's mobile payment app. the chinese internet giant is leading 150 million series c funding with plans to use the funds to triple its team to over 500 employees by the end of next year. it will also expand its loan products and expand new business units. soft bank is also involved in the funding rounds. and britain's top phone company is looking to reduce its reliance. on huawei. they are connecting millions of homes to optic fiber. huawei which has been cited as a security risk by the u.s. government has a share in microcomponents. those are the top global stories we are watching, sherry. shery: trying to take black friday global, it might be with the new deal with china's number three online retailer, amazon just opened a storefront and

starting on thanksgiving will launch a sales campaign to offer chinese consumers a range of overseas products. the partnership will continue until the end of the year. this comes after amazon shut down it's chinese marketplace in july. let's bring in bloomberg's spencer in seattle. who will benefit more, amazon or pinduoduo here? spencer: that's hard to say, amazon has an exposure to a huge market and potentially make a lot of big sales for products that the key will be to distinguish themselves with products that either people can't get on the other platforms or they are simply more confident getting those items from an amazon storefront. so that's where a lot can address consumer confidence on the authenticity of those western brands because that's something alibaba had tried as well, it even encouraged

department stores like macy's that are no more for western products to open stores to try to validate the authenticity of those products to chinese shoppers because they're very worried about fakes. shery: spencer, you wrote in your story how amazon had exited china back in july because it wasn't make enough progress. how dependent on china in the future chinese consumer is amazon? spencer: well, it's a huge market. if you think about right now, you know, there is definitely thoughts about amazon hitting concentration or saturation point in the u.s.'s primary market. it continues 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 heavily in india. it doesn't have to win everything or be dominant in china to still get a lot of business from china because it's such a tremendous market. we should say that alibaba and

amazon have been swicialing -- have been swirling around each other for some time. you mentioned amazon pulling out of china. alibaba very briefly had some sort of effort to open a store, an online store in the u.s., i can't remember the name of it now, i think like 11 main or 13 main or something like that that they opened and just as quickly shut down. taylor: so, spencer, could this partnership help amazon again retake that number one position in the world's biggest shopping event and remember, i think they lost out to alibaba a single day recently, right? spencer: a single-day individual shopping event and so could moving into or generating more interest in china about black friday, black friday, retake it, i suppose it could, but i don't think that's the end goal. it is simply a new market, a day of momentum and an area, you

know, kind of a regrouping of not entirely giving up on china, how can we still get into china even if we're not dominating, how can we pick up some scraps, there is sizable scraps when you think of china. taylor: spencer, you talked how the p.d.g. and amazon partnership extending through the end of december, any chance this could be a longer term partnership? spencer: certainly. amazon, if it's going well, amazon is certainly not going to end it due to some arbitrary deadline. it would seek to deepen that relationship and continue the success. so absolutely. and who knows if acquisitions are certainly, you know, potential things that amazon has bought its way into other geographic markets, we think of the middle east, absolutely, amazon is looking for ways to enter there and would look to build on any success that they have. shery: are there any specific

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

taylor: the company known for its zoomable platform launched a video version of it.

it's a video recording software that lets users add graphics in real time and having their face on the screen next to the visual content during the presentation. joining us to discuss how it could change video conferences in this week's work shifting segment, it is prezi core founder and c.e.o., talk to me more about this video and how you help to increase internal communications with it for corporations. peter: thanks for having me on the show, taylor. we just launch thissed product and we designed it for people to have something to say and made it possible for people to literally hold their ideas in their hands. now, this is, of course, something that weathermen have been able to do for ages. they have an entire studio to do that. so what we have done is made it possible for anyone with their laptop and camera to be able to do this and it's also possible to do, not just in live

situations in a meeting like the one we're doing now, it's also possible to do and record that situation so that unless you don't have to learn a complicated editing tool. you can actually create these presentations in a matter of minutes. taylor: peter, this is a technology show. i have guests on this program constantly talking about the remote 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. i mean, prezi is a company itself with cross continental setups, so i have flown a million miles myself in order to have engaging meetings. it's hard to do engaging meetings and particularly in a remote set up. what we found with prezi video is that, yes, in fact, when you're able to hold these ideas in your hands, you create that personal and human connection

that really engages more people, when we do webinars for example, which we just started doing as we launch the product, we see that people engage much more and stay attune to the message much longer. taylor: well, along those lines, you had some fascinating statistics saying that on average people lose attention after 18 minutes. u.s. employees seem to think that a video conference should be no longer than 24 minutes. what do you plan to do with those statistics? peter: well think we're going to revolutionize the world of video. in fact, this has been our origin as a company. people choose prezi today because it helps them engage audiences, whether it a remote situation like we're in right now or in a live meeting, we have over 100 million people who have said we're going to move away from slides and into the prezi world and then in turn have created the world's largest

library of presentations that are available on our site now, over 400 million of them. now, we know not just that this is important to a lot of people, we also know just how much more it is important. in fact, thanks to harvard researchers, we can see that people that make this change, they are 25% more effective than those who only use slides. taylor: peter, another interesting note that struck me was that a person's face can go next to the video presentation which sort of lends credibility because you want to account for that data because frankly your face is next to it. are people comfortable with that? peter: what we have seen in the two weeks that we have been around, definitely so. of 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. we definitely see a lot of

excitement around it. taylor: what can we expect from you next? peter: i think we will continue revolutionizing the workplaces, but also the schools. think about it like this. you know, if you have your schedule in front of you and you see that a bunch of it is busy with meetings, how do you think most people react? taylor: who are you targeting in terms of a business perspective? peter: yes, what we see that most people when they see these meetings, they react with dread, oh, no, we have a bunch of boring meetings, but it can even be worse than that. it can be a matter of life and death. in fact, there is only one tool in the world that has death associated with it, death by power-point and that's the engagement we would like to change. we would like to bring it to salespeople, marketing people,

h.r., but also in education. we have a lot of people meeting prezi for the first time in the schools. it's teachers who care about engaging their opportunities. -- engaging their students. they are among the first ones to adopt prezi as well. taylor: prezi's, p.r. guy, thank you for joining us. after the recent debut of disney+ and apple tv-plus. netflix appears to dominate that crowded streaming market. that is next. this is bloomberg. ♪

taylor: google told staff on monday that it fired four employees over what it called clear and repeated violations of data security policies. the information was conveyed in an email titled securing our data. it comes at a time when tensions have arisen between the company's management and staff. some workers say that the company is wrongly trying to

interfere with their ability to protest and unionize. now netflix's internal data says the streaming giant has yet to be hurt by the launch of rival services from disney and apple. according to sources, the number of user cancellations has not accelerated around the debut of disney+ and apple t.v. for more on this discussion, we are joined by lucas and today he is coming from new york. lucas, i just wonder, what do we know sort of about the early numbers that we're getting from netflix at this point? lucas: all of the numbers out of netflix or about netflix thus far suggests status quo. it's almost as if there is no competition. the external measurements, the things that data analysts have used like google search trends and app downloads, the numbers are similar to what they were a year ago or perhaps even better. my reporting suggests that the internal number, the number of people canceling is also unchanged. of course, this is a very small

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

hbo max appears to that core hbo customer and overlap between all of these. that's one of the reasons. the other is what i was talking about earlier, it being so new, i don't think it's likely you'll see somebody decide on day one, i'm signing up for disney+ and 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. taylor: someone had mentioned that netflix is missing out on $1 billion in revenue because they don't have an ad supported model, clearly are subscription-based. do you think of netflix doing a different tier subscription service where one is more ad revenue-based? lucas: no, this gets talked about all the time. it does make some sense from a revenue perspective it would bring in a lot more, allow them to monetize their giant customer base in a different way. again, the c.e.o. is adamant

that the netflix is core proposition to its users is that it's adfree streaming. as a c.e.o. he likes to be very focused. if you execute on one thing very well, keep it simple for your employees and keep it simple for the customer, you're more likely to do well. i can see netflix trying to maybe broaden to offering into other areas, there is also talk about maybe music, maybe gaming, something like that. i have a hard time of going to advertising unless they are really desperate and they need an answer. if you see growth slow for netflix, the company's leadership will have to explore alternatives. right now, even though they're down a little bit this year relative to next year, they'll add something like 26 million customers, no need for them to continue change the strategy yet. taylor: lucas, we talk about netflix and apple tv plus and disney+. on friday, i spoke with an analyst who covers at&t, they own hbo. how does hbo streaming service

fit 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 to netflix in terms of the breadth of offering. disney competes with netflix if you put together disney+ and hulu. hbo max, they are netflix's competition, hbo is already the competition at the emmys every year in terms of premiumum -- of premium dramas, comedies. hbo has historically been the home of a standup comedy that netflix has correspond. -- netflix has cornered. if you look at the volume of new programs that hbo max is going to make just for the streaming service, they're going to be pumping out such a wide breadth from kids all the way to adult dramas that are really inappropriate for children that it's the most direct competition, it's the most expensive also, $15 a month and the same price as hbo, more than netflix, more than disney+ and hulu combined. i'm very interested in what the big market is for hbo max beyond

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

cutting, more and more decline of traditional linear television and what people expect will be left of live tv as entertainment television goes elsewhere is news and sports. that raises a major issue, how do news and sports drive new sources of revenue as a subscription fees that came from cable and satellite are no longer there to support them. so engine start stands for e for e-sports, n- for news, g for gaming, sports gaming in particular as an interactive form where we think much of the revenue that will be needed to support those forms of programming going forward are mobile platform expertise that engine brings to the table. taylor: and really, you talk about this being a live immersive experience. give me a real life example. tom: you're watching a basketball game, you have the app in front of you and you are

predicting what is going to happen as it goes. you're playing against others socially, anonymously or friends and family. this a game of skill you paid to enter. at the end of a quarter, you may be won some money as you play against 20 other people in your room. one way to have an immersive experience. another example would be e- sports tournaments might be around "fortnite," might be around nba 2000, torque has a competitive platform and tournament pricing for all of the kind of contests that are already available on twitch where you can extend that twitch broadcast to the platform to allow viewers to play along in real time predicting what is going to happen in an e-sports game like you would in traditional sports. a number of ways to drive revenues, a stable of stations that are generating news revenue

from mobile television, i'm sorry mobile platforms that frankly has in place and obviously being able to promote contests that radio and tv has done for a long time. another way for them to participate. taylor: tom, you have been through decades of change within the media landscape. what is your view on the future of media and the streaming wars? tom: i think it's no surprise that netflix is not suffering any turn and i think netflix will continue to thrive. i think the big thing is this a global game. e- sports is global. it has 450 million people around the world participating. netflix great strength is the ability to reach so many people internationally and with that the ability to amortize it's programming expense and it's massive programming budget which dwarfs any of the other players in terms of their programming.

so this is no longer a national game. this is a big global game and support for sources whether it's sports and news or entertainment is increasingly going to be about global capability. taylor: tom rogers, winview games, thank you for joining us. i want to bring you some news we are getting here. trump's ex-counsel has been ordered by ajudge to testify to congress, a ruling could help compel other trump officials as well to testify and we do know that a house panel is examining whether trump has obstructed the mueller probe. the ex-counsel mcgann has been ordered by a judge to testify for congress. we'll bring you more as we get it. that does it for this edition of bloomberg technology. live streaming on twitter. check us out at technology. follow our breaking news network on tictoc on twitter. this is bloomberg.

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>> this is "bloomberg daybreak on middle east." >> china has reached a consensus with the u.s. over there trade talks, and the two will stay in contact over any remaining issues. yousef: he is staying on as governor for the central playing -- central bank, he has played a key role of getting the country through economic turmoil. tracy: alibaba hits the right note and surges in hong kong trading. a dreaming that builds of trading closer to home. it will also please policymakers in beijing. hong kong's chief executive carrie lam admits