shery: that was fcc chairman ajit pai.e says where the money comes the pans on congress, including credit, before the process takes place. some of these small and rural carriers do not have the money to carry this out. amanda: great interview. still ahead, more details on walgreens, said to be exploring a potential deal to take the company private. this is bloomberg. ♪ amanda: this is bloomberg markets. i'm amanda lang in toronto. shery: i'm shery ahn in new york. let's get more on that breaking headlines from earlier this hour. walgreens sent to explore a potential deal to go private. it would be the largest leveraged buyout in history. ed hammond joins us now with the details. he helped to break the story. .e had a guest earlier as soon as he heard the breaking news, said it would not happen. too much money. what are you hearing? ed: understandable instinct, and people are saying that. it may will not happen. the biggest leveraged buyout in history. even if you factor in the fact that the ceo has 16% of the company, pres

coming up, fcc chairman ajit pai calls for a review of net neutrality. nders vow a tsunami of resistance. we'll hear from chairman pai. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg app and in the u.s. on sirius xm. this is bloomberg. ♪ ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built fo

joining us is the federal communications commission's chairman, ajit pai. l to have you with us. first of all, i want to ask about how you intend to take on the tsunami of resistance. have you braced yourself? chairman pai: this is going to be a political debate that will engage millions of people. we will stay focused on the facts and the law. americans believe in a free and open internet, but they also want to have infrastructure investment. they want those next generation networks to be built out. we don't need heavy-handed regulations that saddle businesses with a lot of rules that this incentivize them from building those networks. that's going to be the course we are charting henceforth. caroline: have you had commitments from the internet service providers that, if these rules are repealed or changed, they will invest? i'm looking at the profits of at&t, $14 billion, $8 billion if you are comcast. shares have risen since that original ruling of net neutrality. they don't seem to have really been hurt. chairman pai: they are down 5.6% for the top 12 br

fcc chair ajit pai joins us next about what is next for him and the federal communications commissionand, we are monitoring the start of a solemn event at the lincoln memorial in washington, d.c. a memorial for the 400,000 americans who have died of covid-19. it is expected to be a moment of silence later this hour. the service will be marked by 400 lights at the reflecting pool. tomorrow, president-elect biden will take the presidential oath of office. he long pledged 100 million vaccines to mark his first 100 days in office. we will leave you with this shot of the washington monument and sunset. wanna lose weight and be healthier? it's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o t

earlier today, i sat down with ajit pai who warned chinese tech firms pose a threat to u.s. security. take a listen. mr. pai: we have seen a great variety of evidence with respect to particular chinese vendors of behaving in ways that are not consistent with the rule of law with free markets and the like. earlier this year, the department of justice announced an indictment against huawei in which case the indictment specifically states huawei officials offered bonuses to individuals who successfully stole confidential information from certain businesses. more generally speaking, this is part of the overall chinese government effort we fear to leverage their influence over global commerce. shery: no wonder they have to see has about coming up to prohibit companies of receiving federal subsidies from buying equipment from huawei and zte. will this banning of firms of selling to huawei or carriers not be allowed to use cheaper tiny equipment of an impact on the u.s. firms and jobs? mr. pai: i start with a bedrock principle. when it comes to the security of america's committee c

fcc chair ajit pai joins us next about what is next for him and the federal communications commissionand, we are monitoring the start of a solemn event at the lincoln memorial in washington, d.c. a memorial for the 400,000 americans who have died of covid-19. it is expected to be a moment of silence later this hour. the service will be marked by 400 lights at the reflecting pool. tomorrow, president-elect biden will take the presidential oath of office. he long pledged 100 million vaccines to mark his first 100 days in office. we will leave you with this shot of the washington monument and sunset. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. emily: the united states is just a d

they met with ajit pai in washington. pai has a track record of opposing the existing rules.he internet association ceo, michael just -- michael beckerman, joins us from washington. david kirkpatrick, our guest host for the hour. michael, you have met with ajit pai. perhaps he wants to get rid of those. he wants to move it to the ftc instead. your view is that net neutrality should not be changed. was he open ear-eared or not? a very cordial meeting. i have a lot of respect for the chairman. we do strongly disagree on this issue. we think the fcc got the rules right in 2015. we are advocating they keep it the same. if it's not broke, don't fix it. as it results -- relates to moving to the federal trade commission, i would point to the comments from commissioner sweeney that they are not the expert agency. we have agencies in our government. all the engineers are at the fcc. that's the expert agency. we should keep it there. caroline: you're looking at a terrell, made by talking about the performance -- importance of keeping it with the fcc. pai does make out that clearly, he

michael, you have met with ajit pai.eresting moves perhaps he of oversightt rid fcc, andp's by the perhaps wants to move it to the ftc instead. your view is that net neutrality should not be changed. was he open ear-eared or not? >> it was a very cordial meeting. i have a lot of respect for the chairman. we do strongly disagree on this issue. we think the fcc got the rules one, right in 2015. we are advocating they keep it the same. if it's not broke, don't fix it. as a relates from moving the rules from the fcc to the federal trade commission, i would point to the comments from commissioner mcsweeney that they are not the expert agency. we have agencies in our government. all the engineers are at the fcc. that's the expert agency. we should keep it there. caroline: you're looking at a snake meant -- statement made by terrell mcsweeney about the importance of keeping it with the fcc. pai does make out that clearly, he has always tried to say that he wants net neutrality principles to remain, but a voluntary pledge instea

meantime, ajit pai recommends the deal be approved. reaction we spoke with our correspondent who broke the story and the founder of boost mobile. >> approval from both agencies is needed here, as well as from the state's attorney general who are investigating the merger. it is common in telecom deals to have both the justice department and fcc review a deal. they both have different standards when considering approval. the doj is focused on competition, will a merger lead to higher prices? the sec has a much broader standard, that's the public interest standard. typically, they come out on the same side of the deal and work closely together. here, it looks like the doj is leaning against the deal while the fcc chairman announced he intends to recommend approval. emily: interesting. obviously, this has been a long time coming. there have been many twists and turns. both companies have suggested concessions they can make. but it sounds like the doj doesn't think there is not enough. what is your perspective on whether this is good or bad

caroline: fcc chair ajit pai spoke to kevin cirilli about the plan. mr. he 5g fast plan to -- is the plan to facilitate america's superiority. a core part is to make more spectrum available for the commercial marketplace. later this year we will be , holding the biggest auction of spectrum in american history. 3400 megahertz of spectrum that will put a stamp on american leadership on 5g across the world. kevin: 3400 megahertz, what does that actually mean, especially when you look at global competitors like korea and china? mr. pai: we are very much ahead of the curve. we will be allocating more spectrum for commercial 5g than all the mobile broadband providers america has today combined. it's a huge influx of supply. we are confident carriers will use spectrum to deploy 5g. we want that to happen here because spectrum availability is a big part of the equation. kevin: which companies will be driving these auctions? mr. pai: i expect it will be some of the traditional players, but we are seeing a lot of interest from cable companies, silicon valley compani

we spoke to fcc chairman ajit pai from washington, d.c.jit: this will be a political debate that will engage millions of people, but we are going to stay focused on the facts and the laws. the facts are americans by and large believe in an open internet, but they want to have an infrastructure investment. they want the next generation networks to be built out. and so i think what the fcc does , not need is heavy-handed regulation that saddle businesses with lots of rules that simply disincentive rises incentivize -- disincentivizes them from building those networks. that will be the course we're charting henceforth. caroline: have you had commitments that if these rules are changed, they will invest? i'm looking at the profits of at&t, $14 billion. $8 billion if you are comcast, shares have risen since the original ruling of net neutrality. they don't seem to have really been hurt. ajit: if you look at the actual numbers with respect to investments, they are down 5.6% for the top 12 broadband providers in this country. and that does not ev

pot, the chairman, and -- ajit pai,arr --metro pcsoner, has a robust prepaid business that is owned byis number one, a structural remedy that someone from the doj would like. he talked about his preference for structural remedies over behavioral remedies. there are also pricing commitments. three years of the best deal and it won't cost you more for 5g as it rolls out. that will allay concerns not only of the department of justice but also the states. public service commission has already approved this. they are looking at this as well. ajit has done a masterful job i think of finding a number of conditions agreeable to the parties as well as the states and department of justice. i think we have the perfect -- argue that even without these conditions, that the merger would be good for competition? >> absolutely. 5g will have up to 100 times more capacity and speed. we are at the dawn of that era. we need to frontload our capex in the global race to 5g. this merger cleans up a week balance sheet by combining assets like cell towers and things of that nature, then $40wing it to borrow ab

willman ajit pai said he recommend approval. i want to bring in the reporter who broke the story, david. and peter in california. who has the authority, the sec or -- the fcc or doj? avid: approval of both agencies is needed as well as state attorneys general. it is very common to have the justice department and fcc approve a deal. they both have different standards when considering approval. the doj is focused on competition. will emerge early to higher prices for consumers. the fcc has a much higher standard, the public interest standard. on thely, they come out same side of a deal. they work very closely together. here, it looks like doj is leaning against the deal. the fcc chairman today announced that he intends to recommend approval. emily: obviously, this has been a long time coming. there have been many twists and turns. both companies have suggested concessions they can make. it sounds like the doj doesn't think there has been enough. what is your perspective on whether this is good or bad? time: i spent a lot of with t

i sat down with fcc chair ajit pai to see how he thinks the biden administration will handle it.na-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 games, what will it mean in 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, zte, and others will change under the next administration? ajit: the fcc has spoken with a unified, bipartisan voice. whether it is a 5g network built in new york city or the navajo nation, everybody wants it to be

game changer is ajit pai.: he is the anti-regulation regulator at the federal communications commission. >> he would not say he is against net neutrality. he is against rules placed during the democratic administration that will diminish company's role and put government on top of them. that consumers will have a better internet experience and competition will and sure the precept of net neutrality, no blocking, no -- clean flowing traffic. julia: the democrats will fight. he has a core base to battle on that front. he is systematically reversing president obama's decisions. what is the endgame? what is he trying to achieve? from what i can see in his biography, and i've had the chance to interview him and watch him, he sincerely believes , so far as we can tell, that a problem with the communication sector is government intrusion. old ruse in place -- rules in place for decade need to be loosened, and the experience will be better for both companies and consumers. others say as he loosens those roles, compani

including ajit pai.ught up with him and asked for an update on the at&t time warner deal. >> it is limited to these particular facts, and as i understand it, the parties have structured the transaction so it will not come before us. >> give us what that is. the market is already expecting it. are we going to see more m&a in 2017? will you allow that to go through? >> this is a decision for the private sector to make. my job is to review the papers put before me and take a look at the facts and make a decision bassed on the law and precedents long-established. >> we spoke with tom wheeler, your predecessor at the fcc, and he was of the view that four players is what is need for the market. i wonder if three would be enough. >> i can't say what the structure is. it is extremely competitive. after the fcc started its investigation of free data offerings, all four now have unlimited data plans. that is a good thing for consumers. if it is in the public interest, then we would be more favorably inclined to ap

emily: that was the fcc chair ajit pai. ofat does it for this edition "bloomberg technology."ang. daybreak: asia coming up. this is bloomberg. ♪ bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrainer is tested to support over 500 pounds. it inflates and deflates in less than 30 seconds using the electric pump. head to aerotrainer.com now. now it's your turn to lose weight, look great, and be healthy. get off the floor and

emily: we did speak to the fcc commissioner a few months ago, ajit pai.ake a listen to what he had to say about why he thinks this is important. told 22 small businesses us this hangs over their businesses like a black cloud. that's the kind of regulatory uncertainty and overreach we want to remove, because every american deserves better, cheaper, faster internet, and i'm committed to delivering it to them. the argumentes that less regulation means more innovation, the future facebooks, googles, and netflixes of the world can develop. how do you respond to that argument? alexis: i only know it from the perspective of the entrepreneur. that level playing field and that neutrality guarantees innovation can thrive. at the end of the day, what we want is for the free market to pick winners and losers, not big cable. net neutrality is what makes the difference between those two things. emily: what if the rollback happens? what would the consequences be? alexis: it would only be the start of a conversation that i know america would need to have with their elect

ajit pai is one of those. you cannot like the robo call during dinner? issioner pai: i certainly do not. but the agency opened the door to class-action lawsuits across the country and that's not going to benefit consumers. emily: the fcc also voted to expand subsidized broadband access to low income households. you also voted against this. isn't the internet vital to everyone? commissioner pai: there's a couple different reasons why. first and foremost the fcc refused to adopt fiscal responsibility reforms that have made the lifeline program as it is known rife with waste, fraud, and abuse. in terms of extending it to broadband, the fcc should be targeting these scarce funds on people who do not have internet access. instead the agency has opened the door to subsidizing people who already have rock band, who had incomes much higher than the poverty threshold. it's not diverting these funds where they are needed. for this reason i took a different view from the majority. emily: i want to bring in craig moffett from new york. another major headline -- a 100

including ajit pai.p with him and asked for an update on the at&t-time warner deal. >> it is limited to these particular affects, and, as i understand it, the parties have structured the transaction so it will not come before us. >> give us what the market life is. the market is already expecting it. are we going to see more m&a in 2017? will you allow that to go through? >> this is a decision for the private sector to make. my job is rather humble and frankly a boring one which is to review the papers put before me, and take a look at the facts, and make a decision bassed on -- decision based on the law and precedents long-established. >> we spoke with tom wheeler, your predecessor at the fcc, and he was of the view that four players in the mobile space in the united states is what is needed for a competitive market. you said at the moment is is extremely competitive. i wonder if three would be enough. >> i can't say what the optimal competitive structure is. however, it is currently extremely competiti

. ♪ emily: last year, the ftc chair ajit pai weighed in on u.s.ts to ban huawei by suggesting his company may prohibit companies from using huawei increment. huawei has responded, telling the fcc that banning particular vendors on grounds of national security will do little or nothing to protect the security of america's telecommunications networks. to discuss, we have todd shields who covers the ftc. how big a deal is this potential action? >> it would be a big deal in u.s. domestic terms. this is a problem over the fcc. it is one everyone can watch. we can see the filings by companies by national security experts. it is a bellwether in that sense. in terms of huawei's business, small rural 40 , providers. in terms of rural providers, big deal. they use huawei equivalent and need to continue to do so. emily: does huawei have a point in that changing out the equipment could actually make u.s. networks more vulnerable rather than less? todd: the point is a little obscure to me in their filing. you know they would be buying , presumably somebody oth

ajit pai has been pushing it since his first day in office .are joined to discuss why the issue is so important. alexis: reddit has been fighting for the internet here in this is something that steve and i believe in personally, deeply. that gave us the chance to start reddit in an apartment with $12,000 in the bank. and 12 years later, we have built the fourth most trafficked site on the internet. net neutrality made that possible. emily: the site costar can you have a message there. other companies are telling users to take action. google is saying today's open internet ensures that both new and established services, they have the ability to reach users on an equal playing field. do you think this protest will make a difference? -- alexis: yes. it's been great to see more and more companies come and join our ranks. a lot of people remember the internet blackout that happened because sites like road test -- reddit and wikipedia were protesting and that helped the push to get title ii. that helped crystallize a lot of these laws. those happened

this week's game changer is ajit pai.: he is the anti-regulation regulator at the federal communications commission. here is our report. todd: he would not say he is against net neutrality. he would say he is against rules put in place during the democratic administration that he says will diminish company's role and put government roll over top of companies. he ensures that consumers will have a better internet experience and that competition among companies will ensure the precept of net neutrality, which is no blocking, no throttling, clean flowing traffic. this is contested here at washington. julia: of course the democrats , will fight. he has a core base to battle on that front. as you eluded to, he has systematically reversing president obama's decisions. what is the endgame? what is the past? what is he trying to achieve? joel: from what i can see of his biography -- and i've had the chance to interview him and watch him in action for a while -- he sincerely believes, so far as we can tell, that a problem with the

shery: ajit pai, thank you.turn our attention to the stock of the hour, the fast food darling shake shack, the high flyer burger chain, may be headed into its worst day ever are comp sales trailed estimates forecasts.ent cut the tie up with grubhub for delivery is also a cause for concern. abigail: forecasts. truly an ugly day for these shares, the worst day ever for shake shack. a very interesting dynamic occurring here. as you mentioned, they missed third quarter comp sales, but actually beat revenues in a big way. that speaks to a lack of organic growth. basically, comp sales our existing stores, up just 2%, missing estimates. overall sales beating by 32%. that speaks to the fact they've been opening stores. in the third quarter, they opened 15 stores. new store growth growing of 35%, reminiscent of the crisp cream -- the krispy k reme craze back in the day. if we go into the bloomberg very quickly and take a look at this terminal, the stock ipo to back in 2015. high, 70%16 at that shortage risk. now just 18%

it is a proposal that the fcc chairman ajit pai has been pushing the proposal since his very first dayn office under president trump. joining us now to discuss, reddit co-founder alexis thosen, reddit is among organizations protesting the rollback of the net neutrality. why join in on this protest? alexis: reddit has always been at the forefront of fighting for an open internet. this is something we believe in personally deeply. that is working with the chance apartmenteddit in with $12,000 in the bank. net neutrality made that possible. emily: you guys go big on your homepage, the site goes dark, you have a message. other companies are telling users to take action. google, for example, saying today's open internet ensures that both new and established internet whether a company like google, or a small startup has the ability to reach users on in equal playing field. do you think this protest will make a difference? alexis: yes. because it has been great to see more and more companies come to join our ranks. a lot of folks remember the internet blackout that happened, sites like reddit

jonathan: still with me, diana amoa of jpmorgan, scott thiel of --ckrock, and ajit pai colin, i wanto begin with you. the reserve moving that word "accommodative." is it still an accommodative federal reserve? colin: yes, it is still in accommodative federal reserve. there are a number of important things going on here. removal of "accommodative" was them more of a position and that's what chairman powell wanted to send the message of, that the data is what is important. we know it is priced into the market and we know the expectations for the fed numbers with respect to the dot plots. i find that intriguing, too. if you look at the dots, obviously there is a move priced in here in december and three more next year. that would put us at a position three position of 2019 at and 1/8, and that seems high to me for the 10-year treasuries. when you look further out where the dot plots are measured, the expectation is we come to a terminal spot around 3%. even the 2021 dots are varied. when we see inflation stuck at low levels and moderate paces of growth, i think the likelihood of one mov

shery: that is fcc chairman ajit pai.ning us now is the director of the national security and policy program at george mason university. thank you for joining us today. is the security threat posed by chinese equipment such as huawei and zte worth the financial they, the financial costs would have to bear, the u.s. would have to bear in trying to ban this equipment and trying to rip and replace them at the same time? guest: there is no doubt this will be costly but that is the point. national security cannot be put at risk as a matter of cost. we recognize there are a number of these rural phone companies that ended up buying huawei or cde gear because it is cheaper. it is cheaper because it is subsidized by the chinese government through low-interest or no interest loans. intellectual property that was handed over by foreign companies to generate profit. there is the actual the quitman itself. that is why we are having these carriers charge lower prices. we have to help the net on the back end to get this equipment out.

the chairman of the sec ajit pai . john: thank you very much.e from new york city, you are watching bloomberg. ♪ john: from new york and viewers worldwide, this is "bloomberg daybreak." speed on you up to market action, or the lack there of. where is the price action ahead of the president's address to congress? not much. flat after 12 days of records. out just two on the s&p 500. the euro pushes higher. is treasury market marginally lower, down one basis 2.3 six. that is how the stage is set. that is the market action. in the u.s., president trump will discuss foreign policy, security, and more before a joint section of congress. still workingis on the speech, and officials are not sure how specific he will be on policy goals. the president is expected to include talks with health care leaders and law enforcement in the address. you can watch the speech live on bloomberg television 9:00 p.m. eastern time. starbucks ceo howard schultz came out against trump's executive order on immigration. to hirehis decision 10,000 refugees was not a political

says herman ajit pai will recommend the deal be approved.ile carriers are ready to offer more concessions, one being that they will pledge not to raise prices while their 5g network is being built. american companies are complying with the trump administration crackdown on chinese telecom equipment maker huawei. qualcomm, xilinx, and broadcom will not sell to huawei until further notice. all of those stocks are lower today. google has cut off the sale of hardware and some software as well. that is your bloomberg business flash. guy: let's take a look at where european markets are trading as we head towards the close. what we have is trading lower today. chip stocks like ams and st micro under pressure -- and sdmicro are under pressure. other stocks are down a little harder. . ♪ guy: 30 seconds until the end of regular trading in europe. i will come onto the specific factors working in italy in just a moment. the ftse 100 down by about 6/10 of 1%. doesn't have a lot of tech or auto stocks. as a result, getting away with their little more toda

. ♪ emily: speaking at mwc in barcelona, fcc chair ajit pai says he wants to promote leadership in 5gregulation. he said the agency is working to lower regulatory barriers in the telecom industry, but will the u.s. been able to compete in the global 5g race and continue its campaign to ban huawei equipment and other countries? tom wheeler is the former chair of the u.s. fcc and an author of a new book. he joins us now from washington. great to have you back here on the show. tom: hello. emily: in the book, you argue the tech revolution is something we have seen before, but ar what are the risks of the tech revolution we might not be prepared for? tom: i think the lessons of the previous tech revolution is that a failure to engage is folly. and, it goes to such things as what you were just talking about insofar as regulation. there were new rules that we established at the beginning of the industrial era which made that era successful for both capitalism and for consumers and competition. we're in a similar kind of situation now where we need to be establishing new rules. and, when you

ajit pai was resolute in his statement that there should be a free market endeavor saying -- i opposel from the federal government to build and operate a nation 5g network. any federal effort will be a costly distraction from the policies we need to help the united states win the 5g future. joining us now from washington -- what do you make of it? came out hard and early this morning against the proposal. i have to say we are not entirely sure who in the administration backs this, whether this is a trial balloon, or if it is a trial balloon with momentum. it is unclear. what is clear is that the fcc and his colleagues are against it. emily: talk about the concern with china year. -- with china here. >> the national security official -- and they don't talk to the press a whole lot, they have focused on two companies. they're both pretty well known to bloomberg viewers -- equipment makers. there are reports from capitol hill, and coming from the national security apparatus that these companies may be relaying or have the means to relay, or have the opportunity to relay information to ch

fec chair ajit pai. and we have some breaking now out of wells fargo.elling bloomberg it has fired more than 100 employees for improperly accessing covid relief funds. there is abuse tied to the economic injury disaster loan program. said city a fire these employees and fully cooperate with law enforcement. combating a similar issue and they also found that hundreds of employees tapped the same government program, that dozens of them did so improperly. we continue to look and see if there was an impact of the stock there firing more than a hundred employees for fraud. amazon prime day, traffic up 30%. the echo. being the most popular item so far. we will take a closer look at the event. this is bloomberg. emily: we are in the final hours of amazon's prime day sale, adding to jump on this holiday season. shoppers are flocking to the platform team to score a deal. and with brick and mortar schools -- stores being reduced traffic, analysts expect this to be amazon's biggest prime day yet. how is this prime day so far different than all the others? >> what

. ♪ chair ajit pai said that he met with executives from facebook, cisco, oracle, intel, and other companiest did not give details on the discussions. pai is a staunch opponent of the net neutrality rules. google is planning to make a change to its browser that could have huge effects on the digital ad industry. it's planning to add an ad blocker to chrome and possibly could turn it on by default for all users. shares of facebook see its groth -- of ebay sees its biggest drop in six mo nths. all episodes of "bloomberg technology" are now live streaming on twitter. this is bloomberg. ♪ in recent years, the spotlight has been placed on silicon valleys lack'-- silicon valley's lack of diversity. companies have been working to become more transparent on their diversity efforts. they have poured millions into the initiatives with the aim of recruiting and retaining more women and minorities, but much of what they've done has only shown incremental results. we sat down for inexcusable if seed of women who have epitomized the fight against sexual harassment -- for an exclusive with two women who ha

. -- ajit pai -- a cheap buy.e not sure of disney shareholders are ready to make that step yet. emily: what about when it comes to other sports gambling platforms more broadly? i feel like i have heard draftkings m&a speculation for a couple of years. >> draftkings is in a really competitive space they are constantly at war with places like band dual come -- fan duel, they are offering cheap discounts or giving users free money together platforms. there is a lot of room for consolidation. with this partnership with espn how it looks like it will be unclear. it could on -- emerge looking like a new platform, like in es again -- espn platform, or could be on the espn app. it could be more deals, draftkings has not been public for that long. they only went public to race back about a year ago -- through a spak a year ago. the stock price is not doing them to outcome of them to sell equity would be challenging. there will be consolidation in the space we do not know who is buying and who is selling? emily: what is you