emily: i'm emily chang in san francisco, and this is "bloomberg technology." coming up, the cdc urging americans not to travel during thanksgiving. cases of covid-19 continue to surge. what does it mean for the travel industry struggling under the weight of a pandemic? ceo will be my guest. amazon making a big move to up in the pharmacy business.

will it work? one of the main incumbents, good rx, shares their answer to the new competition. the bitcoin rally continues, but for how long? brad darling house will have his take later this hour. tech share is leading the market higher as more covid restrictions, staying at home for the foreseeable future. scientists are racing to make advances on the vaccine front, but there is a long winter ahead. joining us now is abigail doolittle, taking a look at the market movers of the day. a lot of conflicting strands. how does it add up? >> yesterday, we had the bearish , the risk off news about public schools closing. the biggest school systems in the u.s. closing on the virus. we have hospitalizations at a record high in the u.s. stocks yesterday sold off. today, they rallied. they started in the red, and

were flat on the day most of the day. at the end of the day, the nasdaq 100 climbing by about three quarters of 1%. once again, we have the disconnect between stocks and a reality that would seem to be concerning. the narrative is stocks are looking forward six or nine months, when the vaccine gets into the system more and hopefully helps reverse the pandemic. however, stocks not taking into account the near term. bonds are, that's a story for another day. a lot of stay-at-home stocks. that's another conflicting piece of this tug-of-war. amazon, apple, and facebook are all higher. those are the mega cap names that have a big waiting. defense was higher on the day. those are the sectors that led, tech and discretionary. emily: let's talk more about amazon. edging higher.

ofhave the news of cases continuing hospitalizations, more people staying at home. how much of this is an overhang for the big pharma news, about amazon making an even bigger play in prescription drugs? abigail: in terms of amazon on the day, at this point we are looking forward relative to that. it is widely acknowledged there will be a big disruption to the pharmacy space. it is not proven. until that time, it probably won't do much for amazon shares. amazon is in a range. you can make a case that the stock is technically bearish. not surprisingly, we have a reaction on the drugstore stoxx. cvs and walgreens are down. a bigts are saying it's concern for the long term, but in the near term, it is unlikely to be much of an effect. but you can see big declines in these spaces. emily: abigail doolittle, thank

you so much for breaking it down. more on that now, one of the companies that stands to see some kind of an impact when amazon enters the pharmacy fray, good rx. how big will the impact be? i want to bring in the cofounder and ceo. there are some predictions it will be destructive to your industry. you are one of the incumbents. what is your answer to this? doug: amazon has had a mail order pharmacy for a couple of years, since 2018. the announcement a few days ago was updating that experience to try and get more people to switch to mail. the challenge is mail is hard. only about 5% of prescription in this country are mail. and it has not gone up. people usually go to retail. we also work with amazon to find discounts for pharmacies. emily: does that mean you are not concerned? good rx has 5 million members,

amazon has 90 million prime members in the u.s. how worried are you that some of your customers, who also happen to be prime members, might move to the other side? >> good rx helps americans find the lowest prices for their prescriptions everywhere. we saved americans over $25 billion. i applaud amazon's efforts, it's not what we do, we are a marketplace. we find the lowest prices and dissent consumers there. amazon just upgraded their mail order experience. they also offered a discount card, where people miss karen to do as helping you get discounts at competitive pharmacies like walmart, walgreens. i don't think that is a crucial part. i don't think amazon or walmart would be happy if customers were leaving for another company. so we work with amazon, all of the mor pharmacies, drug manufacturers, to find the lowest price. the lowest prices that our

subscription, they are lower 90% of the time usually than what amazon's are. emily: how do you think this will change things? for me, who has to go to a drugstore to get a prescription filled, and that is not really convenient, especially in a pandemic. doug: it's crazy, because you decant this point everything shows up -- you think at this point, everything shows up at our house. yet pharmacy is so complicated, not as simple as one click. you have to get the prescription, there are reasons contractually why your drugstore may not participate. amazon is only doing 30 day fills. if you want 90 days, you have to go to your insurance company. the contacts and restrictions are so great, and they have been underestimated by many. i remember drugstore.com or they were going to revolutionize this, and the insurance companies no you are not. health care doesn't work like ither industries,

can be confusing and restrictive. we are trying to unravel that. amazon is, as well. but it could be a long time before mail is a significant part of the overall prescription economy. emily: this is happening as congress is looking at amazon over antitrust issues. do you think there are regulatory issues lawmakers should be concerned about, given they are making a lateral move into an industry where there is already concerns about how much power they already have? doug: i don't really have a lot of advantage point into amazon side.gulation on that what i'm focused on is overall health care policy, which continues to fail many americans. aremany americans uninsured, underinsured, and cannot afford health care they need. we work closely to provide information about pricing so political leaders can figure out how to solve the problem. we have been around since 2010, before the aca. everyone said it would fix

health care, it hasn't really done that. americans still need help that's why we are trained to fill in the gaps with americans. we are trying to get them affordable health care. we are friends with anyone who will help us get there. emily: where do you see the innovation happening in the pharmacy business? over the next five years? >> we are really excited about certain categories. telehealth is amazing. it has been around for a long time, yet very few people use it. then the pandemic hit, and it exploded. for certain categories, mental health, telehealth is here to stay plead if ik can see my therapist in interaction like we are happening, -- if i can see my therapist in an interaction like we are having right now, that would be good. it would lower the cost. also, we are finally seeing a lot of options where brand -- good rx has rolled out branded saving solutions, where we help people find savings on the massively expensive drugs,

$500,000 drugs, where we are trying to drive people, also help find doctors -- have doctors find solutions. howre really pleased at manufacturers, pharmacies, and everyone is realizing they have to do something, because it is not working. so we expect a lot of innovation around finding savings for brand prescriptions. hirsch, thank you so much for joining us. airbnb has filed to go public on the nasdaq, listing shares on another trading venue still a possibility? our conversation with erik reese is coming up next. this is bloomberg. ♪

emily: we have breaking news. the gaming company roadblocks has just filed for an initial public offering. we are getting nuggets from their filing. the popular company among tweens reporting daily active users, 31.1 million in nine months, ending september 30. it joined the flurry of ipos trying to round out 2020. just this week, airbnb filed to go public on the nasdaq. the company might also list shares in 2021 on its upstart trading venue for companies committed to environmental, social, and corporate governance values. in addition to the traditional ipo, airbnb is weighing a listing on a long-term stock exchange founded by the lean startup author, erik reese. thank you for joining us. this would be huge. i know the conversations are confidential, but what can you

tell us about the likelihood of airbnb doing this with you? >> i can't speak to which companies will list, but the conversations are comfort -- the confidence -- the conversations are confidential. i cannot say anything about that. it were to said, if happen with airbnb or a company of similar size, what kind of legitimizing force would that have on something you have been working on for a long time, and waiting for a company to make this move? >> i have been working on this for the better part of a decade, and we are excited we were able to begin trading operations on september 9. that will be the official start time for us to have these conversations with companies. separate from any particular company, what is important is the issues of corporate governance. in this next generation, there are incredible corporate leaders to are really committed 21st century way of building

companies that's different from what has come before. our goal is to create a venue that's appropriate to their standards. emily: you built a business on a best-selling book and a methodology. i know you built a lot of strong relationships with founders, people like airbnb's ceo. talk about your relationship with those kind of founders, and the conversations you are having about making a decision like this. >> it's a bit of a cliche now to think the people in silicon valley are trying to change the world. as i have gotten to know people, i think they are sincerely committed to it. about he cares a lot sustainability, what he calls a multi-stakeholder way of building a company, his hosts, his guests, and understands taking care of the human beings in his community leads to success for shareholders. if you look at the action the next generation leaders are

taking, you don't take their word for it. he just hosted -- did the host endowment fund, placing a good amount of the company's stock in a sovereign wealth fund, and i think this recognition that these platforms, not just airbnb, but many next-generation companies, these platforms are so powerful, they are like nationstates under themselves. responsibility to shape what the 21st century will look like. emily: we just learned roblox has filed for an ipo to list on the new york stock exchange. talk about the selling point of the long-term stock exchange. why should an airbnb cpl, or roblox, affirm, any of these companies getting out, choose you, and what are they giving up if they don't go that traditional route? >> was important to remember is we are asking companies to daul list to still have a primary listing on nasdaq or n.y.c., we

don't affect their access to liquidity. none of the conventional things companies seek to gain in an ipo will be lost by daul listing on ltse. the risk is low. one of the things everyone in business agrees on is short-term thinking has become an epidemic problem. just look outside if you want to see the consequences. when you talk to managers of companies, they are finding themselves living a quarter to quarter, struggle to make the long investments, focus on the long-term, investments in r&d get starved. that's not what the next generation of company leaders want in their market experience. as we have seen through the pandemic, the companies with the long-term focus and philosophy, they are better equipped to deal with disruption, better at taking care of employees and customers, who will remember who was there for them and who wasn't. so i think this capability to adapt while remaining true to their vision is the essence of this next generation of leadership.

the standards we have embedded into the long-term stock exchange are aligned with that ethos. emily: it's been an unprecedented year. we have a lot of pent up ipo demand. we will see how many of those companies make it out of the gate. what is your forecast for 2021? do we go back to some kind of normal after this unprecedented time? does this feeling of disruption continue for a while? >> it's funny to think the 21st century is already 1/5 over. anyone who thinks it will be smoother or calmer in the years to come is not paying attention. we are basically 100 years removed from what our grandparents and great-grandparents went through. the rolling 20's of the 20th century, when the pandemic ends, the pandemic -- what will be unleashed here will look by comparison. but we have to learn the civic lessons they had to learn the hard way. it happened in the 20's, but also the 30's and 40's. we are on a similar trajectory

if we don't make specific investments now that allow us to build broadly shared prosperity throughout society. so i think entrepreneurs and tech leaders have an important role to play in forging that new consensus, but it will require abouthtened thinking the role of a corporation, the purpose of a corporation in these turbulent times. i think if we can really lay out the new ground rules, the new social contract of what it means to be a great company, we all have a role to play in that. in the press, those of us who advise companies, and the founders themselves, in saying these new companies, this new ethos has to be about taking care of human beings are the societies they inhabit, or we will have a repeat of some of the atrocities we saw last century. emily: certainly it sounds very worthy. eric ries, good to have you back here on the show. coming up, we will be talking about crypto.

ripple's ceo will be my guest. this is bloomberg. ♪

emily: bitcoin is having a moment in the sun again after a couple of seismic shakes that destroyed billions in value. week,ssed $18,000 this the highest since january 2018 after climbing in late october, when paypal said it would allow customers to use cryptocurrencies. ripple's ceo. great to have you on the show. bitcoin has been a huge run. we are seeing a new rally in

cryptocurrency that we have not seen in a few years. what is your take on why this is happening, and why it will last? >> i think it will last for a while. thank you for having me on, it's good to talk to you again. what we are seeing happen are some macro factors, not the least of which is you print billions and trillions of dollars and a stimulus of fiat currencies, many people take a look at inflation hedges. while gold has been the darling in that category, increasingly, we see bitcoin and digital assets broadly viewed as -- this is a real inflation hedge, and it has driven a lot of the activity. almost record highs. emily: paypal is now allowing you to buy, sell, and hold cryptocurrency, which kicked off the big run. but they have not included ripple's xrp. >> xrp has been a topic of a lot

of speculative age -- speculation, as having a lot to look at at the currency, which is separate from ripple the company. a lot of foreign regulators across the world have looked at and been decisive at looking at xrp as a digital currency. in the u.s., you have not had the same clarity. it was out of that clarity that you had companies like paypal, square, and others supporting bitcoin. because it has that clarity. i ownbull on bitcoin, bitcoin, but i think we need to acknowledge when bitcoin is more than 50% of the mining in china, china can control those technologies. i think we in the u.s. really need to get in sync with other major economies across the world in how we look at an asset like xrp and treat it similarly. emily: how concerned are you china, given their support of

it, somehow starts to dominate the market and gives the country an advantage? chinese communist party is being very strategic and is focused on dominating this technology. i worry this will be the next 5g race. we lost that race, and i think we are in danger of repeating that mistake again in the battle for what i think will be the future of our global financial infrastructure and payments. i think the irony is that unintentionally as a regulatory body in the u.s., we have given an advantage to bitcoin to provide the good housekeeping sale of approval from the fcc that has allowed people to, like paypal, and others with that clarity and uncertainty, shey are supporting those asset and allowing entrepreneurs to build companies around them and safely invest. emily: you made headlines last

month when you said ripple might move its headquarters out of the u.s. due to the lack of regulatory clarity. now that we have joe biden becoming president elect, are you still contemplating that? what are your hopes under a biden administration? >> a lot of these issues are very bipartisan, so i don't see it as fundamentally different between who is at 1600 pennsylvania. i think there are some subtle changes. ultimately, ripple is an american company, we are a proud u.s. company, we want to stay here, we generate a lot of tax revenue for the government and a lot of high-paying jobs. we also need a level playing field. if we can compete effectively with these technologies, in this case, controlled by chinese miners, we have to compete on a level playing field. so we would look elsewhere. one thing i will say that will change in a biden administration is another drawback of how bitcoin operates, mining.

1% of global energy consumption is consumed by bitcoin mining. in a world where we should be attentive to carbon production dynamicsmpact of the going on in the climate, i think the biden administration will be more attuned to those dynamics, bring more attention to the lack of efficiency in bitcoin mining. garlinghouse, always good to have you on the show. a lot of things to watch. thank you so much for sharing your thoughts with us. we have been getting headlines out of california. california has now ordered a 10:00 p.m. curfew for 94% of the state's population as cases of covid-19 continue to surge. hospitalizations also surging. a pretty huge development we will follow and try and get more details on the curfew going into effect in california. for coming up, vaccines

covid-19 are looking promising, but does it mean travel will pick up once again? we will talk to the ceo of booking.com, next. this is bloomberg. ♪ are you frustrated with your weight and health?

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now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. emily: welcome back the -- to " i amberg technology, emily chang in san francisco. california will be implementing a 10:00 p.m. curfew for 94% of the state's population. for all counties in the purple tier. that is in my county, alameda county. that does not include the county of san francisco, which is in the red tier. obviously, a very restrictive move. we are waiting for a press conference from officials at the top of the hour.

this after we saw positive news on the vaccine front out of pfizer and moderna. the question remains, when can anybody expect life to go back to some sort of normal? as we head into the winter the cdc is recommending americans not travel during thanksgiving week. n, lots to digest here. what is your take as a guy who is running a travel business and your business has clearly been disrupted over the last eight months. glenn: hi, emily. thank you for having me. it has been disruptive. wonderful news out of pfizer and moderna. hopefully we will have great news out of other companies like johnson & johnson. the thing i continue to remind our employees, everyone remember, this is not a light switch. we do not just turn on the lights and everything is great.

we have a long way to go between these announcements. there has not even been governmental approval yet of these vaccines. it will take an awful long time for the vaccine to be distributed. then to be able to get to a level of safety people feel it is ok to do everything they used to do before this pandemic. unfortunately, it will be some time. emily: let's talk about what is happening in the short-term. the cdc is recommending people not travel over thanksgiving week. i just got off the phone with someone who is canceling a trip. glenn: are you seeing bookings being canceled over the next several weeks? what is happening right now? glenn: we saw significant downturn before the announcement you made. we did our earnings call. i talked about how the seven days preceding the call we just bookingsof a sudden,

were dropping significantly, down 70% in seven days preceding our earnings announcement. the summer was not bad at all. people were feeling optimistic. but as the infection rate went up -- not just in the uas -- u.s. in europe we saw cancellations go up. unfortunately, until people feel safe, we will not see a rebound. emily: how will this holiday season compared to every other holiday season? glenn: it will be pretty horrible in terms of travel. we all knew that. we talked in april about how what we needed was a vaccine and government stimulus. now it looks like we have vaccines, but it has to be produced and distributed. we also need governments to put money to work, to prime the pump

for travel. the travel industry has been devastated. people have lost their jobs. we need governments around the world to come up with plans and programs that as soon as it is safe to travel, i am thinking maybe tax credits to stimulate demand. other countries are doing it. japan they are doing it. we are helping build domestic travel there. thailand, the same t biden, comp with a plan, it would be really helpful. when it is safe to travel, we get demand up right away. emily: we do not know about additional stimulus. we know that lawmakers are going home for thanksgiving, but we do not know if there would be more stimulus. ever get back to

normal even after a vaccine? is the industry changed for good? glenn: a couple things about that. there is always going to be travel. when everybody feels good about getting on a plane, we will get travel back. i have no qualms saying, we will have more travel in the future then in the past and we will go past the numbers in the future. it is worth mentioning business travel. business travel will be different. i do not see people saying, i will get on a trip to visit a client cross the country or the meeting ata one-day high expense and then come back. i see people saying, i could do this by some sort of video communication. it is just as effective. that hurts airlines that used to get very high fares, those first-class tickets, business

class tickets. that is a lot of money. they will not get as much. and the five star hotels that were filled with business travelers. let's face it, the client was paying their way. this will change the economics for some of the suppliers in the travel industry. we are morecom, leisure oriented. it will not be as much as a factor. it could even help us because there will be more empty rooms at hotels. i think the airlines will be taking out the flatbed seats and turn them into coach seats, and they will have more seats to fill. as a distributor, this can be an improvement. medium-term, are you seeing any evidence that customers are encouraged by the vaccine news? are you saying business take up for it say a year from now? i am thinking i cannot do the

spring break trip we planned this year. maybe next year. is the news trickling down yet, or are travelers paralyzed? to have seend love people say, ok, it will be safe in the summer. i see really good prices, so i will grab that while it is there. i have not seen it yet. it is interesting because some things we saw earlier in the year, when a country would drop restrictions -- there was a time the u.k. had travel restrictions and as we got into the early summer, the u.k. said, it is ok to travel internationally, we whenlmost instantaneously restrictions dropped, bookings went out. i have not seen any affect like that from the vaccines because people are still thinking, when is it going to be safe? vaccine? able to get a because there is so much

uncertainty, people are still holding back. ofly: glenn fogel, ceo booking.com, thank you for your transparency and the view of the road ahead. i want to recap headlines, california governor newsom imposed a curfew across the majority of the state of california. all counties in the purple tier, which includes my county, alameda county, los angeles county, sacramento county, to halt the continuing spread of covid-19. this curfew will go into effect this weekend. 10:00 p.m. is when it starts. coming up, a $40 billion acquisition hangs in the balance, to upend the chip industry as arm holding awaits approval for its takeover by nvidia. we will speak with the ceo of arms holding. this is bloomberg. ♪ this is bloomberg. ♪

nvidia paring losses after warning that data center chip sales were slow in the second quarter. the chipmaker is waiting on approval for arm holdings, under parent company softbank, for $40 billion. known as the switzerland of semis, some fear the nvidia acquisition will threaten this. i want to welcome simon segars, the ceo of arm holdings. great to have you back on the show. i know you said you have been on the phone with a lot of customers worried the way you do business will change. how are those conversations going? simon: hi, emily.

thanks for having me on today. when we announced the deal two months ago. -- ago, a lot of people's reaction was, what does this mean for the future? i have talked to lots of people and have been with lots of customers. our business model will continue. we make our technology available to anyone who wants to license it. that has driven a tremendous amount of innovation. have saidnd nvidia both will continue after the acquisition closes. we will create technology and make it available to anybody who wants to build a chip using it. emily: what actually will change under nvidia's ownershipmon: wee technology to market. we will have a combined engineering capability that will

be very focused on the future of computing, which will be more data and ai driven than in the past. we believe we can bring combined strength together, create more products and make that portfolio of technology available to the world's chipmakers, who will innovate on top of them. we believe this is a way we can go faster and bring more technology to market. emily: walk us through the accept -- expected timeline for around the world and what you see as the biggest hurdle? simon: we expected it to take 18 months to go through the process. we still believe that is the case. the process runs at different speeds in different jurisdictions around the world. there are different regulatory frameworks you have to follow through. we are at the start of it.

we are talking to different regulators, answering questions, pulling information together, pulling files, as we go at different paces in different places. chip technology has been at the front of u.s.-china tensions. the arm situation continues to drag on. how have geopolitical forces impacted the business you are building, and how do you plan to rebuild those relationships? simon: it has not been affected much by what is going on on a geopolitical basis. our technology is popular amongst chinese semiconductor companies. we use it extensively. we have strong and deep relationships. we continue to develop those. we have to be completely consistent with export controls and regulations applied to ship

and technology. export controls around the world. withintain our compliance those and monitor changes carefully. our district in china is doing well. we see a lot of innovation there. we continue to partner with companies in china. emily: we saw apple's announcement of the mac line, its own chip. it is not great for intel, but does this open the door for arm, to get into vc's? something promised for many years, but has not come to fruition. simon: we have seen great improvements in the performance and energy efficiency of our chips. we have seen our chips floyd in pc's. i have been using a windows 10 vice myself since lockdown. that is an area we can deliver benefitsce, with our

in energy efficiency, the ways in which our partners integrate other technology into the chips they build. we think there are great system efficiencies to be gained by taking that combined, integrated approach. emily: arm is just the latest in a series of big chip deals. you see more consolidation in the chip sector, and what companies should we be watching? simon: i think there will be more consolidation to come. developing leading edge advanced technology chips is very expensive and becoming increasingly so. you have to have lots of chip designs. that naturally leads to consolidation in the sector, even through lockdown. we have seen a few deals announced. i think we will see more to come as the smaller and midsize companies either combined

together or combined with larger companies. it will become a business where economy of scale matters. ceo simon segars, thank you for joining us. we will see how that acquisition progresses. still ahead, with president-elect joe biden entering the white house in january, the fcc could see a change in its top executive. we will hear from the sec chair about what he is doing over the next 16 weeks ahead of inauguration day and what he wants the priorities to be. this is bloomberg. ♪ s bloomberg. ♪

emily: former president bill clinton said at the bloomberg new economy forum this week that chinese president xi jinping's china-u.s.pended relations and will require biden

and his allies to take a more coordinated approach to beijing. i sat down with fcc chair ajit pai to see what -- to see how he thinks the biden administration will handle it. the china-u.s. relationship is complex, goes well beyond the fcc boundaries. we see a recognition the chinese communist party has a determined view about the way it wants to order the world. it is not content to simply focus internally. we see them exporting their own values abroad. as i mentioned on twitter frequently, if they are willing to take action to cause censorship on things like basketball and flag emojis or ines, what will it mean equipment from chinese manufacturers subject to chinese law, in our communications network?

we see people on capitol hill speaking with a bipartisan voice as recently as this week, when they passed legislation saying, we need to think about a solution to navigate around problems we are seeing in huawei . emily: do you think samsung, huawei and others will change in the -- under the next administration? ajit: the fcc has spoken with a unified, bipartisan voice. whether it is a 5g network built the navajo city or nation, everybody wants it to be secure. that is not a democratic or republican issue. we need to provide funding for smaller carriers to move equipment. congress has not seen a partisan affiliation. i think the recognition that the chinese communist party is a , and then this area recognition we need to work together, congress and the

executive branch and independent agencies, speaks well to the unity on this issue. emily: at the same time, your fcc ended the most direct fcc regulation of rod bans networks which some would say undermine their security. to does the fcc worked ensure broadband networks remain secure under this new framework? ajit: i would argue to the contrary, the decision we made to remove regulations has been a fantastic end of it to the american people. since we made the decision in 2017 to remove the net neutrality regulations, the u.s. has doubled with respect to broadband, millions more have access to the internet, and in the last eight months. there is increased demand on the internet. the networks have been architected in such a way to sustain all that traffic. that would not have happened if

we had utility style regulations. the best evidence of that is europe. europe has that which some net neutrality advocates love. they went to streaming services at the beginning of the pandemic, and asked him to change from hd, because they did not have the investment that made them confident they would hold up. i would argue there is a big benefit when it comes to security. companies have certainty in terms of building networks. can think of security of the networks as well as business feasibility. emily: your decision on net neutrality's bond discussions, protest, the john oliver argument. what is it like to make a decision that feels so unpopular?

ajit: the key is to have confidence in your convictions. be an outcry.ould it was a hot button issue before i got to the fcc. -- youdom on this issue may remember in the fellowship of the rings he said to frodo, all you have to do is use the time given to you. here we are three years later. now you go on twitter or other platforms, some people are wondering, what happens with that issue? i thought the internet would die, but here we are tweeting. emily: what if the next fcc tries to undo what you have done in your 10-year -- tenure? net neutrality would be top of the list. ajit: we have done an incredible theexecuting, closing

digital divide, advancing sure weip in 5g, making benefit consumers in terms of proactive enforcement, protocols, addressing markets that for some people have fallen through the crack's. for example, regulating the rates that inmates pay when they call people on the outside. those are things we have executed on. i would argue there is not necessarily a partyline affiliation. emily: with the biden administration, you will be stepping down before inauguration day, but you do not have to. you could stay on as a commissioner. what are your plans? ajit: just to make sure we have a successful december meeting. we have a lot of meaty items teed up. we want to do the bread and butter the fcc. 5gember 8, the largest

option ever in the u.s. we have a lot of great bidders. it will be successful. there is a process for the election certification and those processes will play out. i will focus on what is in front of me, my job leading this great agency and the tremendous career staff that allowed us to deliver so much productive value for the american sumer. -- consumer. emily: that was the fcc chair ajit pai. ofat does it for this edition "bloomberg technology." i am emily chang. daybreak: asia coming up. this is bloomberg. ♪ bloomberg. ♪

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now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. ♪ haidi: good morning. counting down to asia's major market opens. shery: i'm shery ahn in new york. welcome to "bloomberg daybreak asia." investors weigh virus news and future restrictions. only modest gains in tokyo and hong kong. covid-19 poses a growing threat to the economy. the