it will change a lot as we get deeper into next week. fundamentals, whether you like joe: again, this is not a huge selloff. selloff wehat the are 1% up. i think we have had seven trading days this year. you add those up, that is actually a blazingly fast start to the year. caroline: the nasdaq up 2.3% this year. romaine: you have had some good stories. macy's is up this week alone. that is unexpected. salesforce up about 9%. you have some names here that still have outperformed on the flipside, you have walgreens, under armour. thatine: also worth noting volume was slower than what we had been seeing. people, perhaps not wanting to be long to made positions as they head into the weekend.

let's dive deeper, get a read of stories beneath numbers without reporters. abigail: scarlett, talking about the boy start to the year. the nasdaq up for a fifth week in a row. the top sector for the s&p 500 technology up. pretty incredible, last year having its best year since 2009. that is the degree of eying interest we saw in 2019. it is continuing. he also have communication services with some of those communication companies along with big internet names and then health care. the top sectors this week up more than 1%. tech really leading the charge. at this point there may be reason to think that tech could cool off a bit. this is a one year chart. we see that the tech sector clearly going in the right direction.

the tech sector in white. that the tech sector has been well above that 200 day moving average, rising. the tech sector is 16% above that 200 day moving average. the most at any point over the last year. a series of lower highs, all of this may suggest that we could see a little bit of a cooling off for the tech sector. similar to what has happened twice over the last year. us that. could tell right now it does appear, a little bit of cooling off in the next weeks or months. taylor: from the tech sector over to the health care sector. there is a few individual stocks i wanted to look at. the first is eli lilly, rising after it announced a deal to acquire demure. those shares rising as well. about 80 3%s gained

in the past month. therapeutics, they are another big winner. and portola. that is the big loser today. off on disappointing sales. slashing its price target. next week we are headed into the j.p. morgan health conference, or i will be attending. ,ealth care now rising continuing to trade near those record highs. we are going to be speaking with and companies like eli lilly. to see if we get any more deal announcements. from the health care sector to entertainment, where six flags may have to cut its china plans. stock is plunging after announcing that six flags warned , it's planned china theme parks will hurt revenue. and it could lead to the projects being canceled.

six flags says its partner quote -- continues to face challenges because of the acro economic fire meant and -- environment. six flags also says it whatnot report fourth-quarter revenue from its china agreement. joe: thank you renita and the rest of the team. still with us, michael regan and federated investors strategist phil orlando. just saying,ere markets up 1% already. that is pretty impressive, especially coming off of 2019. what is the biggest risk, in your view for that to continue? phil: i think there are a lot of risks. one of the key underlying tenets of our assessment is we are not going to go into a recession this year. the earliest we would see a recession might the middle of next year. suppose that was wrong.

suppose the weakness continues to the balance of the year. and our growth rate is not achieved. a key risk is china. arere big affecting -- we expecting a skinny phase i deal. suppose that doesn't happen and there is an escalation of tensions and tariffs. and the economic growth we expect to come from that doesn't happen. two key thanks. caroline: china always going to be in the background. he phase one deal doesn't resolve too many issues. i wrong is front and center as well. -- iran is front and center as well. you talked about iran as a lingering issue for investors. what did you learn from folks? there is a couple of things with iran. you think it is a very quarantined economy.

even the sanctions today shouldn't have anything that is a contagion to the rest of the world. the biggest risk is some sort of oil price shock. it doesn't help to look at history because any middle east oil price shock we saw in the past was when the u.s. energy industry was in a much different place. not the dominant energy producer. i think it is a potential catalyst. for maybe air rotation, rather than a steep selloff or the type of thing that would, alone be the final straw that tips the economy into a recession. the question is, where else could be that lingering uncertainty? i keep thinking of that cliche, revenge they dish best served cold. i wonder if iran is done serving their revenge. whether we will be surprised by something that will affect confidence.

romaine: does the geopolitical risk were you? phil: certainly what is going on in iran is disconcerting. i agree with mike's conclusion that we are in a very different place. we are now the largest energy producer in the world. we are energy self-sufficient. that is all good, but iran is a wildcard. taking down, tragically that commercial jetliner. was that intentional? was that their attempt to even the score? we have got no way of knowing how this is going to play out. the tension and loss-of-life, and thing that has market we havehe seen is an extraordinary number of things that, in theory, could have killed the bull market.

producedf them have this sort of ongoing uncertainty. when you think about last year's trade, when you think about geopolitics, could that be to 2020 a sort of ongoing source of anxiety? mike: ultimately you've got to draw yourself back to fundamentals. inflation is very benign right now. core pc at 1.6%. the end oft to 2% by the year. treasuries sitting at about 190. in an environment where in inflation is that benign, stocks should be elevated. last year earnings were relatively flat. this year we are going to get back into a growth mode. not substantially, but we should be in the neighborhood of 10% earnings growth. when you look at a combination of earnings growth with elevated

levels of pes based on benign levels of interest rates and inflation, that is how we get to 3500 by the end of the year. it is not the 40% we have seen, but eight to 10% over a given ?ear after a consolidation year that's not bad. caroline: if fundamentals are going to rain, we have a dosing next week with a earnings set to begin. which sector could really surprises? historically, are very good at beating earnings estimates. jp morgan hardly ever messes. that doesn't mean their shares will necessarily relic, but i think the focus will be on those commentaries. what does jamie dimon have to say? wheres the type of thing a little note of caution might have an outsized effect.

that's onee type -- thing i think i would be watching closely. caroline: watch for jamie dimon saying something. our thanks to senior markets editor mike regan and federated investors strategist phil orlando. that does it for the closing bell. what you messes up next. -- "what'd you miss?" is up next. this is bloomberg. ♪

♪ romaine: live from bloomberg's world headquarters, i'm romaine bostick.

u.s.s a snapshot of how stock close today. is, --e question romaine: new sanctions. u.s. targets iran's industrial sector. the unitourt representing professional basketball players is creating a venture accelerator program to assist nba players with their investment aspirations. and gender balance. women surpass men to hold the majority of u.s. jobs for the first time in the a decade. ♪ caroline: let's stick with jobs, because the u.s. labor market close the year out with less momentum. payrolls rose 145,000 in december. that trailed forecast. larry kudlow spoke with bloomberg about the results. at 200 and 67,000 gain in the household survey, which skews to the smaller,

younger businesses to show the vitality of the economy. i think this is a strong report. caroline: let's bring in gregory daco. kudlow is going to spend this positively. what that job support really tell us? it was seen as a nonevent. gregory: it was a nonevent, but i think there are three important elements. the labor market remains strong. we continued to add jobs. we continue to have a labor market that is adding 180 thousand jobs every month. the labor market is slowing. we are seeing that in this u.s. economy, job growth is going to moderate. remain a enough to mayor -- a labor markets like. and participation is still very high. we have wage growth that is slightly starting to slip. that may be concerned, because it is a key factor that is supportive of consumer spending. joe: why would rach growth be

slowing? gregory: we have is this is -- businesses that are struggling to pass on price increases. in that environment, you are not going to see much impetus for rising wage growth. nursing wage growth around 3%, but that is come off of its peak early last year. romaine: one aspect of this report, this idea that you are getting a lot of lower and type jobs being created. which some people say is a good thing. a lot of these were people who were shut out of the labor force. people also say that is the reason you are seeing a decline in growth of hourly wages as well as hours worked. gregory: there is a compositional element to the fact we are seeing average earnings lower. receiving or job growth at the lower end of the income spectrum. environmente in an in which overall, wage growth is

just under three percent. it is surprising to fall below, we had been there for the past 18 months, that is still enough to support real disposable income growth around two and a half percent. on its own that should be supportive of consumer spending growth. which is the main pillar, not just of u.s. activity, but arguably of global activity. caroline: this deceleration in wages, it could potentially spell trouble for consumer spending. if we were to see it slow, where would that show up first? what are you looking for as the canary? gregory: the key element is how much earnings are going to grow in the next year. if earnings start to slow further, beyond what we have seen, then that would be a key signal that consumer spending is about to slow. we have seen consumer spending become increasingly the main engine of growth in the u.s. economy. was that the growth currently is

driven by consumers. if that pillar starts to become frail, and that environment we are going to see less growth. in the current environment, i do not expect this to be a -- an excessive worry for the fed. this job support is not the type of report that would lead to this reassessment. joe: even if we got ongoing numbers like this, we are so follow way -- so far away from the fed moving in either direction? gregory: if we continue to seek job growth around hundred 50,000, with rage growth around the percent, that is still enough and that won't lead to a material reassessment. believe there will be further deceleration, because businesses are cautious. in that environment you are going to see cooler real disposable income growth and

more restrained consumer spending growth. so with all that said, what am i supposed to make of this idea that you still have all of these job openings and, presumably not enough qualified people to fill those openings? gregory: i think we are in a labor market where it is important to find the right candidates for the job. what we are seeing is that businesses are being cautious when it comes to hiring. not just in terms of who they hire, who they pay them -- how much they pay them. they are still hiring when they need to, but they are being cautious as to the skill. there is a supply-side issue. we are not at full and climate yet because we still see be -- see people being pulled from the sidelines, we are seeing some increased faculties finding people with the right skills. caroline: romaine mentioned that women surpassed men for the first time in a decade.

should we be concerned that this is happening for the first time since 2009? does it say anything about where we are in the cycle? gregory: i don't know if it says anything about the cycle as much as it is encouraging to see increased participation from women. but we saw was hispanic woman rising in terms of their participation. that is an increasingly good sign, because it means people are being pulled from the sidelines. from an international perspective, i still believe that we have a lot to do. the increased participation of women in the labor force, including different programs that would allow men and women to work but also take care of their children. romaine: as one of our producers pointed out, 50.4%. joe: our thanks to gregory daco. hartford economics chief. more sanctions. -- white house slapping

we will have the latest from new york, this is bloomberg. ♪

♪ joe: the trump administration is imposing new sanctions on iran. stephen mnuchin announcing the move earlier today. >> today's sanctions are part of our commitment to stop the iranian regime's global terrorist activities. the president has been very clear -- we will continue to apply economic sanctions until iran stops its terrorist activities and commits that will never have clear weapons. -- nuclear weapons. joe: let's get insight from

bill. he joins us from washington. significantxt how are these latest sanctions? bill: the imf already forecast iran's economy was going to shrink 9.5% this year. that was before this round of sanctions. it is a tightening of the screw. and therel exports, has been a serious clampdown on that since the middle of last year. about thewhen we talk retaliation, this is tit-for-tat. in response to iran's airstrikes, and that was to retaliate against the killing of general soleimani. is this something that is going to lead iran to retaliate directly or through proxies? l: when we talk to people who follow iran and look at that relationship, the feeling is

that there has been a little bit of a step back from the brink of open military conflict. like we saw earlier this week with that missile salvo. it is probably going to shift more to a proxy battle, proxy attacks. things that give iran a little bit of plausible deniability and make it harder for the u.s. to .irectly blame tehran what does that mean? it means probably some harassment of ships, it means possible terror attacks linked to groups like hezbollah, but things that aren't directly coming from irani government. romaine: we kind of forget that we still did have that downing of that ukrainian jet. a lot of canadian citizens were on that flight. do we have any sense from non-us countries like canada, some of the european countries, as to what their approach to this is going to be? bill: a lot of countries are

saying they want to send investigators directly into iran. the u.s. has said it will waive sanctions for anyone participating in the a valid investigation. there are also countries trying to work through ukrainian authorities. ukraine and iran have set up a joint commission. ukraine has seen some of the evidence, although they have said not all of it. there is going to be a real question about access to the degree and there will obviously have two -- there will have to be a return of the bodies. joe: on the question of sanctions, could you specify the difference between primary and secondary sanctions? bill: they are sanctions that are involved with companies doing direct business in tehran, and then there is sanctions involved with companies that are doing that but also have ties with the u.s.. the u.s. has tried to set is broader a definition of sanctions as possible, so that

if you are doing business with tehran war somehow working through an intermediary that you can potentially be blocked from access to the financial system. caroline: thank you -- scarlet: thank you so much for clarifying. let's get you a quick check of the headlines. you have casper sleep going public. filed for anive -- ipo today. casper has not said how many shares it plans to offer. the luxury gem operator equinoxes and talks to secure funding from investors. bloomberg has learned that one of them is silver lake. the investment would help equinox expanded digital platform. ruledifornia, a court has that the states new gig law does not apply to trucking companies. the judge said the law could have a substantial impact on

trucking prices. lawmakers had aimed the law at gig economy companies. the matter may end up before the california supreme court. that is your business flash update. romaine: coming up, earnings season kicking off. we are going to have leigh drogen joining us. he is going to help write down some sectors he is looking to beat this quarter. this is bloomberg. ♪

♪ mark: i am mark crumpton. president trump says he will use his executive privilege to block former national security advisor inn bolton from testifying his senate impeachment trial. trump tells fox news he has to do it, for the sake of the office. the president said he did not plan to prevent bolton from testifying. bolton said he would testify if he was subpoenaed. plans for mr. trump's trial are moving forward. nancy pelosi says she has asked jerrold nadler to be prepared to bring a resolution to the house for to appoint managers and send

the articles of impeachment to the senate next week. the move comes more than three weeks after the house impeach the president on the charge that he abused the power of his office are pressuring ukraine's new leader to investigate democrats. the president insisted that nothing wrong. the trump administration announced a new wave of sanctions on iran. treasury secretary steven mnuchin said the sanctions will be issued by executive order, will put off billions of dollars of support to the iranian regime. >> these will be both primary and secondary sanctions. the eo also allows us to designate other sectors in the future as secretary pompeo and me think is appropriate. executive order will impose sanctions on anyone involved in the iranian textile,

manufacturing, or mining sectors. separate sanctions will also hit iran's steel sector. the associated press reports that it is part of a renewed electioneering focus on immigration issues by president trump. the ap says a document has been circulating the white house, but the countries that would be affected are blacked out. the band, first announced three years ago, sparked an uproar with massive protests and chaos at airports where passengers were detained. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton, this is bloomberg. ♪ romaine: the earnings report effectively kicks off next week with j.p. morgan, wells fargo coming out on tuesday. consensus is expecting etf's to

fall 1.5% as analysts revised down those estimates. joining us with a preview, estimized founder leigh drogen. thanks for joining us. we are heading into this earnings season on the heels of a monster equity rally. valuations are evaluated -- are elevated. leigh: with pes above 18 now, we really haven't seen any for about a year. any positive year-over-year numbers. those numbers are right in line with what we are seeing on the estimize platform. the issues we are seeing, if you want to get bullish, is that as we look at this quarter, there is really not any place besides tech and health care to be bullish. energy is going to be what is going to be. joe: what do you mean by that? basicallyis already, price then on the basis of the commodity markets. but we have already seen from

other industrial companies that have reported. energy would be trading differently if we were going to get passive prints that are different from what we are expecting. --problem going forward romaine: you mentioned tag. this is an outperformance of tech. that bottom line is industrial. it is driving everything here. this is part of the problem, right? because the expectations are so high. leigh: if you look at the growth drivers inside of tech in terms of revenue, we actually took a step back in terms of the multiples for a lot of those high-growth names. set up pretty well right now heading into this quarter. then, they got hammered. that is actually a place where you could get bullish now. the other places health care.

like, e of names that we spleunk. they are all kind of tech related, that health care and tech is where we bid luck. it is infrastructure software? within technology we have got chipmakers, you've got an old school software companies. you got communications services. breakdown for us what you see in terms of the prospect of beating estimates for the different parts of technology. leigh: the big cap names, your googles and facebook, and those, we still think that the upward trajectory lends itself towards these beats. we haven't seen anything where these estimates are falling off a cliff, in terms of the revision history. they continue to surprise. they are going to continue to surprise.

caroline: the optimism is justified? leigh: yeah. whether you should buy the stocks, is another story. in terms of the actual prints, we think they are going to print well. in terms of chips, that is where the multiples have gone up. we will see the apple prints will also be important. we have seen some movement in the the upper -- upward direction. that is a good sign for the chips. joe: i think it was sometime last august there was this brief, of hope for the rotation to value crowd. we are all going to be investing in cardboard box companies again. do you see any hope of that materializing? leigh: no, not really. i have been on this train and i thought maybe i was wrong for a second there. look, that value is dead. it has been dead for 25 years. in terms of outperformance

relative to growth. i don't think we are going to see this rotation. mostly because the financials usually lead that rotation when it happens. i don't think people quite are respecting the secular nature of what financials are up against. they are up against tech. that is why you see tech meeting and getting the multiples that they do. financials --, the manager that is going to overweight financials elective to tech right now. romaine: if we are in this belief that this is a growth stock story, we are talking a lot about etf's, what are the expectations with regard to revenue growth? those still are causing some people some concerns. on the tech side, not what they were. again, and small-cap enterprise space really good. have seen those companies mature. romaine: we saw selloffs last

earnings season because one of these companies, they grew at a 30% pace instead of the 40% pace they were before. and investors panicked. leigh: getting more mature and the multiples are still really high. the trend is, as that growth rate slows your cap gets bigger. on some of them the multiple hasn't come down. joe: one stock i want to ask her about -- i think in past times we have had you on your expressed some skepticism toward apple. and you have certainly questioned whether they will get a service company type multiple. this stock has gone bananas. i'm curious what you think is driving back? leigh: the financial is asian of the company. they have done an amazing -- financial is asian of the company. they have done an amazing job. the net income of the company is lower than what it was two years

ago. the amount of money the company is making is not as much as it used to be. it is financial engineering. is no reason to sell apple today. , long the issue with apple is they are not going to get a higher multiple. long-termisk, and the one they turn of technology that they don't get right. relative to other companies like google that don't have that risk. estimize leigh drogen, founder and ceo. thank you so much. we have some breaking news. boeing has filed a regulatory filing. it has disclose the payments for the former ceo of dennis muilenburg. apparently dennis muilenburg received no severance.

calhoun, who is going to be the incoming ceo will get a $1.4 million base salary. ofllister was the president commercial airplanes. is he leaving the firm? romaine: yeah, and he is getting a lump sum of cash. according to the headline. maybe his contract was structured differently. caroline: dennis muilenburg not getting any severance payments, as he was ousted. joe: meanwhile, alphabet has toed thousands of jobs sent first set up shop in new york city's chelsea neighborhood. and it plans on adding thousands of more on manhattan's westside. joining us with more is natalie wong. thanks for joining us. it is not just that they are adding thousands of jobs. their footprint is really growing. natalie: they're building a real estate empire.

they started leasing up the chelsea market before anyone was there. they ended up buying that location. then last year buying the building across from it. now they are moving south to hudson square to invest $1 billion in a completely new campus. caroline: how come there is no resistance to the rise of google, the spread of google across the westside downtown? natalie: i think it is their approach that they have done this over two decades in a really quiet way. they did not come out with a flashy bid icam is on. amazon. it came in quietly, worked with community activists. provided donations to the community. they did it incrementally, which i think made a difference. caroline: are they getting any subsidies? natalie: they are not getting any subsidies. romaine: there is criticism

about the way amazon made the city's court them. they ended up pulling out of that long island project. there he learned that amazon was going to set up some office space. but they are moving a lot of employees here. it raises a question. need subsidiesy for companies like that. they're going to come here, because this is where talent is. is this the lesson to be learned? natalie: i think this is the trend we are seeing. we have seen amazon and facebook announce leases that show they're going to grow their workforce here and they're going to be investing here. the amazon lease they signed, they are probably going to into new to expand their presence. , oh,you hear a lot about new york city is in trouble because they eliminated the salt deduction and everyone wants to move to some sunnier state. but we see from these companies is that -- that need talent, they are willing to pay money

for office space alone to be in new york city. natalie: they still want to be in manhattan. i think this is where the talent is. the real estate community is excited for that. if you talk to real estate developers, all of them are talking about attracting these tech tenants. be the that is going to trend in the next few decades. as opposed to the financial services industry. big bank making way for big tech here. our thanks to natalie wong. romaine: that was nice, scarlet. up, auroraoming cannabis is struggling. company saw a wave of downgrades. this is bloomberg. ♪

romaine: time now for a look at what stories are trending. terminal users, they are reading about u.s. intelligence officials who are assessing whether russia is trying to undermine joe biden. which the former vice president is still the front runner in the race. in 2020 interference could be more brazen than the 16 residential race. a story on a has chinese property tycoon who is close to breaking london's house price record with the purchase of a mansion. for more than $262 million. the d will be a bright spot for the london property market. assign the roles richest are

being lured by a weak pound. bloomberg has reported that facebook is stepping its ad policy for users, not political campaigns. give users the option to see fewer political ads. it is still sticking to its controversy over rule, which says it will not fact check any post not have any restriction on ads targeting. you can follow all of these stories under terminal, and online. joe? thatanalysts warning aurora cannabis, the sixth largest company in the space could have trouble paying its debts. shares are down over 80% as the entire industry faces a cash crunch. for more, we are joined by kristi noem. over still so ugly, still $1 billion company, but down over 80%. now they are in danger of preaching covenants.

>> it is interesting that this is happening to companies like aurora. it was considered one of the stall warts. , analysts are warning that it may be close to breaching debt covenants on a loan that is due in august. -- august 2021. it is not going near default, but it shows how bad things have gotten for the sector. to maintain ans ebit that level. gets basically not going to to that level until, probably 2022, and it needs to be there by september of this year. that means, probably a restructuring of loans is coming. is not going to be an easy few months. scarlet: if it does go about restructuring the loans, how long does that process take? hold -- held by canadian banks. that will make the process

easier. it is safe to assume those banks do not want to take control of a cannabis company. it is in their interest to work it out. the other big issue is that it has a lot of goodwill on its books. analysts are saying it is probably going to have to write down in the next three to six months. at that a lot of acquisitions and a couple of analysts have said they are expecting write-downs of $2 billion or more. romaine: what does this tell us about the broader cannabis space? a halft a year, year and talking about this constantly. now a lot of the companies that were riding high seem to be -- have petered out. >> as i said, aurora was considered one of the stronger ones. but it was also one of the first, and one of only a few to take on we'll that. in a strange way, has almost put it at a disadvantage. in light of other smaller companies have not been able to secure real data.

they are facing their own issues. but they are not necessarily facing the potential of default. joe: for the people who haven't been paying that close of to the space, who remember 2017, or 2018 when the stocks were going nuts. what failed to happen? what were people expecting and why haven't the profits materialized? >> people were heading into 2019 after canada legalized with high expectations. evaluations were at very unrealistic highs. already there is likely to be some sort of correction. then the retail rollout has been much slower than expected in provinces. that has resulted in slower sales. companies had sacked optimistic revenue targets they were unable to meet. you have other issues like the vaping related health crisis. you had a company that had regulatory issues. a whole host of different things

happening at once, piling on top of companies that were already -- had expectations that were not going to be able to meet. scarlet: a confluence of headwinds. thank you so much. from new york, this is bloomberg. ♪

♪ superstar nba players like lebron james happens going big points off the court as investors. now the unit representing players has set up an accelerator program to help players pursue their business and investment interests. joining us to discuss is john edwards. john, give us some sense. what exactly is this accelerator program going to do? john: it is a program that is designed to help both current getformer nba players to their start up ideas from , hopefully,es to

successful reality. and are going to get advice this programm both partner they're going to be working with, who is an investment banker who works with professional athletes. scarlet: what is the role of the players union here? are they doing any of the investing more are they the man hoping -- helping to arrange this relationship? john: i think they are more of a middleman. it is providing the framework for the players and retired onyers to, again, it advice their business ideas and startups and get them going.

get them, possibly, further funded. joe: is there anyone that thinks the players shouldn't be distracted by startups? john: i don't think so. there is the feeling that players, you know, it is good for the league and good for players if they have outside interest that are getting traction out there, getting their names out in the different way than just on the court. and helping to preserve their financial future. which can be a problem for many players. who end up running through their big salaries. romaine: we are quickly, do we have any sense of any other sports lakes that might participate in something like this? been a believe there has similar project by the nfl. i think, in general, sports leagues are very interested in helping their players to prosper careers are- their

done. scarlet: a little bit of post-career management there. john edwards joining us from boston. thank you very much. coming up, we have a lot coming up next week. not only do you have earnings beginning, but you also have some big geopolitical events. romaine: geopolitical events? scarlet: with the u.s. and china. a lot of fed speak here also this week. you're going to hear from the doj. gdp retail sales, chinese -- next week is going to have everything. scarlet: and earnings. romaine: yeah, me too. a reminder to subscribe to our weekly podcast on itunes. you're going to find our best content each friday to enjoy

over the weekend. podcast -- i hear they are popular. scarlet: the reason romaine won't be here is he is going to get married this weekend. from new york, this is bloomberg. ♪

>> i'm taylor riggs in san francisco, in for emily chang, and this is "bloomberg technology." interference, we continue coverage of cyber risks from the relationship with iran looking at the threats you can't see. alphabet'smissed, top lawyer leaves after questions about a workplace relationship persists. they say it is time for new leadership at the company.