we have to treat american companies in china fairly we cheat -- treat chinese companies here.hink that needed to be resolved. smoother ith resolution, itld be was something that had to occur. we had to stop kicking the can down the highway and not dealing with the issues. if you want to look at ones that are going well in handling it right in my opinion, the u.s.-india trade issues. if you watch what president trump and prime minister modi, both of them are involved in that. taken constructive roles on how do you get our countries working together? as i've said it several times, i think the most important strategic relationship between any two countries in the world for the u.s. is the u.s. and india. i very much admire prime minister modi. i will see him in new york with other ceos. there is a model that i think is going in the right direction. i'm cautiously optimistic you will see that trade issue resolve effectively their. taylor: i want to talk about the elasticity of the supply chains. willinto my terminal, i use cisco as an example knowing you are no longer directly inv

we are a software company, tech company at our core. had to learn our way into media, now we have 13 emmy award-winning producers. we just hired this fantastic new content operator. she will build one of the most special media divisions in any category. but to your question, the investment will go into technology. we will open retail stores, logistics, more markets, but certainly, software engineering is at our core. taylor: that was the peloton ceo john foley. with bloomberg's jason kelly. this week brought pretty of turbulence to wework. co-founder adam neumann stepped down from his role on tuesday to salvage the planned ipo. the copresident and chief financial officer and sebastian cunningham, the vice-chairman, were named co-ceos. i discussed the shakeup. >> i think the writing was on the wall. this is where the momentum was. my reaction is to think of this in three chapters. there is the past and things that were very good and things around the leadership that were not good. the leadership had a lot of the power that built the comp

with a cloud company.outstanding firm built over many years. ibm has worked with red hat over 20 years. we were the original folks who really helped propel open-source onto the stage. we put a billion dollars into something called linux back then. not everyone is familiar with all the tech pieces but it will top, and containers on something that moves containers around. this is the future architecture. i think that war is over, that is the architecture of the future. that is what red hat is. havewe acquired them, we two goals. horizontal and vertical. we are leaving them as a separate and distinct unit. i have plenty of experience. i have done 60 acquisitions in my time. they will participate and continue to be the leader in open-source. it is a very different community out there. they must remain committed and neutral. the second, they have to be on all of our competitors' platforms. i want to see firm neutrality on that. does -- think of them as completely nonbiased. ibm will be opinionated. we take thei

dara: we have resolved the conflicts the company has and there are many issues the company was involved with. you have softbank is a partner and you want them behind you. we have a great investor base. we have taken the company public. revenue has grown 75% since i joined. we now have a path to profitability. so while we have had bumps on the road, i like the position we are in now for the next years. emily: there have been bumps on the road. and despite all the negative stories, uber, lyft, ridesharing companies have been transformational. the big question for you is can uber be as transformational as it has been over the next decade? dara: i think so. really, what uber has done is brought transportation and opportunity to a small segment of the population. we have 4 million driver partners all over the world, which is a huge number, unparalleled, but we want uber to be available to everybody. what we are doing now is going into the next step of introducing other transportation choices to uber. we have always gone with pool, but for example, we are testing buses in cairo to bring the c

that's been that company. expect apple or amazon to have to read the room and appear moreo cooperative to these impending agencies coming at them. i do think facebook has been a bit anomalous here. kurt: there will be a lot more coming on that, i'm sure. sally hubbard of the open market institute and bloombergs eric newcomer, thank you both for joining us. has beenof tech, apple tariffs reprieve from for parts for the mac pro. this comes after the company announced it was keeping some operations in the u.s. president trump took to twitter to celebrate, saying, great news. apple is building the new mac pro in texas. this means hundreds of jobs across the country. congratulations to the apple team and their workers. joining us is executive editor tom giles. i am curious why the government would reprieve some of these taxes for apple products, a few reprieve owes last week, and now know to these new products -- retrieval's last week, and now saying no to these new products. >> apple is saying we need you to exemp

tech companies, but u.s. tech companies are now caught up in the tariffs.itdecember 15 tariffs will major apple products with the iphone and other products, so there is a give and take on this. the tariffs have been predicated on helping u.s. tech companies, at the same time they have been caught up in this with tariffs on products they are bringing in from china so i think everyone wants to see a resolution to the trade war and away for the u.s. and china to get back to business without this threat hanging over them. taylor: we got a trump tweet yesterday about delaying the trade tariffs from october 1 to october 15. what did that signal? sarah: trump has delayed tariffs before on chinese goods, then went ahead and gone through with them. we have heard peter navarro and steven mnuchin say today that this delay is really about the politics in china. the u.s. out of respect for china does not want to hit tariffs on october 1 symbolically, so they are waiting for october 15, but it opens a window for these u.s.-china talks to take place. the head china negoti

growth market company.tually invested quite a bit in the u.s. in the last few years in a company which is basically trying to let people sell things they don't need anymore on a mobile phone. taylor: tell me more about that. >> it is founded by a founder who is close to our hearts. he also founded our classifieds business, and now he founded this company. what it does really well is make something that you don't need anymore as easy to sell throwing it away, so it makes super sense. taylor: i want to end on a broader question about being in the midst of the u.s.-china trade war. you have been focused on china. have the tariffs or trade war impacted any of the relationships between the u.s. and china? >> if you look at the investment we have in china, in tencent, i think tencent is mainly operating domestically. it is a very strong chinese franchise. i would say the operations of the business have not been so much impacted, but i think it obviously has impacted investor sentiment. i think that has had an imp

market company. invested quite a bit in the u.s. in a company that is trying to let people sell things that they do not need on a mobile phone. taylor: tell me more about that. alec whos founded by founded are classified businesses and this company. something you do not need anymore easy to sell it. taylor: we need another question about being in the midst of the u.s.-china trade war. war the tariffs or trade impacted any of your relationships? bob: if you look at the investments that we have in mainlyin tencent, it is operating domestically. it is a strong chance -- a strong franchise. the operations of the business has not been impacted. it obviously has impacted investor sentiment, and that has have -- has had an impact. taylor: are you purposely functioning -- focusing on companies that do not have the internationals exposer -- exposure and are subject to the u.s.? bob: we take a long-term perspective on the world, and it has served us well over time. when we do an investment, we take a 10 year h

we are a very young company, less than one year old, but the way we are orienting the company and whate getting everybody focused on is long-term and how we should think about the long-term value of customers, and we believe by delivering happiness to customers on a daily basis by delivering the product faster, having the best selection, having the best quality, and having the best customer support, let, we have our customer support phone number on the top of the site. increaseso, we will the lifetime value of our customers, and we focus on that, and if we do that, that will create long-term shareholder value. taylor: amazon and walmart have also come out with 3, 1-day shipping. how do you compete? imran: first of all, i think we have to recognize that e-commerce is a very, very large market. it is about $1 trillion. only 10% of that is online, so retail by far is one of the biggest market opportunities out there, and online purchases are still pretty low, so we do not think it is a zero-sum game. weare really focused on how can sell to our customers better. we are focusing on categori

it's a very levered company.been a huge overhang for the stock over the past few years as a result. and so elliott's looking at that and saying what could be a way to maybe deploy our capital a little bit better? is it divestitures >> is it buybacks? >> is it raising the dividend? all of these things that shareholders want to see challenge of course is paying down the debt in the process and freeing up some cash do those things. >> julia, but also you can't be ceo and have the operational managerial, the acc visioquisitl those things be questioned and not peal feel lifeel like you'r crosshairs. >> it snt absolutely is in the crosshairs they've had a lot of changes with the warner media division and the ceo is leaving all of their different divisions need investment right now. they need to invest in 5g and new content for their hbo max service and they need to invest to try to figure out how to hold on to those directv subscribers or create skinny bundles a lot of demand for investment while they have that massive

with lyft and uber, transportation companies. these are excellent companies, by definition.re disruptive. surprise discoveries going to be tough. you need to come to terms with that and understand let them grow. let them be. we need them. wework has shelved its ipo. there's still over 100 startups that have filed to go public that are on the runway including some of yours at manhattan ventures. how do you advise them? is the ipo door still open right now? guest: it's wide open. i think you'll see them come to market. the valuations are going to be more rational. that's the biggest thing. i think everything is going to be more rational. that's good. it needs to come down, let it be more rational. let there be a path to profitability, even if you're not there, explain it very well. get there and that's what we do. when we invest in these companies we look for that unless we have that, we tell our investors that you have to be careful. all that's factored in that's the right way to invest. don't just throw money at an -- any ipo. look at it. look at the corporate governance str

>> i think the bigger companies can learn a bit from what the smaller companies are doing -- >> they usually just by them >> they do! >> no more? >> no more >> no more of that >> what happened? >> no. >> why not? >> three cars they are in the middle of anti trust investigations, they won't be able to buy a sandwich soon. they have nice sandwiches at facebook! twitters are better. go ahead. >> sarah? >> i actually disagree. the future is with these smaller companies. certainly, with the patriots of the world, because they purposely defend the products to be more limited in scope. all of these things work better unless they work, that is the dark truth of it. but, the reason why facebook gets so much flak, is because facebook is big. facebook is so big, it had the resources to investigate internally. once it investigates internally -- when he launched an investigation, you will find something. when he finds something, someone makes it and it ends up on the front page of the new york times. i think that all of those small companies that were supposed to be doing so great, they probably

mortgage car company. there were very advanced for day.r they always did things ahead of everybody else. a full-fledged company building several models of cars and all production of came to lansing in 1905 and this was a big automobile town then. forgingre factories and companies and great for the city. ofs man brought in thousands jobs and us thats of works and and d thousands of works now we can build churches and hospitals and this whole thing r.e.o. and f development of a car. they built r.e.o. mortgage cars and the depression will a lot to do that. they started building trucks. this is an example of a 1911r.e.o. truck. first that e of the built companies. were for packages and this was more utility vehicle. you could put something in the around. carry it it was not a car. this s this is the r.e.o. speed wagon. wagons e called speed because there were fast for their days, faster than any utility type of vehicle. they had a bigger engine. follows the 1923 and this became their stock in trade of the truc

>> the company can do great. today does not indicate anything >> it's one day. >> exactly >> and this whole thing, talking about the ipo market a generally given the ubers, the lyfts, the we works problems. >> i think the public market is desperate for some new things in general. >> shiny new things. >> shiny new things. but in general there's so many share buybacks that the market has been shrinking so it's good to have fresh new blood. but it's that excitement that i think is driving some of these valuations higher. >> we're going to follow up on that in one second we should mention that our parent company comcast is one of those early investors in peloton. so i've appreciated my final day here on cnbc >>> all right to the broad markets. up 100 plus, down 100 plus the next that has been the story all week long and in the last 24 hours, everybody of course trying to assess the release of the whistle-blower complaint against the president. let's bring in citigroup's -- and believes the market, the dow will hit 30

, a great company, amazon, a great company.s, they have to be, you know, this is an industry, which i talk about, i feel like i bang on a drum over and over again, that has no regulation there's no major industry that rules the world that doesn't have some guard rarails. and that's where we are. every single industry ever since the beginning of time this has happened to. and they should go along with it and have smart regulations because we could overreact and sort of ruin the idea of where innovation is going. >> kara, as you know, apple made big announcements this week. lots of analysts notes came out of that. goldman sachs came out with a bearish note today and very rare, cnbc got a statement from apple saying they do not expect the introduction of appletv plus including the account and treatment of the service to have a material impact on the results. what's your take on the fact that apple felt it necessary to come out and make a statement about an analyst note? >> everyone's been able to fly above the fray and apple is li

i don't believe you need to break companies up. that's the best or even fastest path to restoring the power of governments, especially democratic governments elected by the public. we learn from microsoft's own experience, that while the government in our case 20 years ago, actually pursued a break—up of the company, it could accomplish what it wanted in the end without doing that. and you can move a lot faster as a government to doing it in a different way. let's talk about regulation, what you call guardrails in your book. the idea that you can find a way of working, private sectors, the big tech companies, working alongside the state government to develop meaningful, effective guardrails, to ensure that the public is well served. tell me what you think these guardrails should look like, that we don't have today? i think one should start by asking what problems we want to solve, and then you create guardrails to solve each one. certainly we look around the world today and there are plenty of technology problems that need to be so

johnson & johnson is a baby company.ut we're also a cancer fighting, hiv controlling, joint replacing, and depression relieving company. from the day you're born we never stop taking care of you. by the way, she's the it wasnext mozart.g day. from the day you're born as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. >>> states are launching new investigations into big tech companies. one was just announced today another could come monday. ylan mui has the latest from washington >> sarah, washington is leading a joint investigation into facebook over antitrust issues it's a bipartisan effort involving the district of columbia and seven other states including nebraska, colorado, and ohio and i'm told additional states could sign on later a statement, new york ag letitia james said even the largest social me

bottled water company. you know finding finding a label such as this in the stomachs makes it that easy to determine where you know where it may have originated. this is always more to taste than just. just watching the bottle. in front. of the world's best selling brands. and if you're not familiar with you will certainly know the name of the group behind it the coca-cola company. everyone knows coca-cola but not everyone necessarily knows that the group is in china. dozens of other brands just sunny as part of the coca-cola company and sprite 2 there is also minute maid powerade and of course from one of the company's flagship brands. every year the group sells more than $120000000000.00 bottles across the globe that's almost 2000 bottles a 2nd and this mass production is creating a devastating mass pollution. in january 28th in the multinational made a bold announcement by 2030 the brand is promising a world without waste. and it's james quincey coca-cola c.e.o. who is leading the movement. what we need

ending with the german companies there were a thousand german companies who participated in the payment of 10 billion euros 5 billion dollars. these have been in place again for almost 20 years. in return, for these large payments from both germany and some $800 million from austria, the companies were given what we call legal fees. these agreements for each for some of the toughest most renowned cause action lawyers all over the country. i've agreed to dismiss their suits in return for the payment of 10 billion deutschmark his $5 billion in settlements. and with holocaust survivor groups as well. we did not remove the right to sue. we could not. what we did say and what we have done, is that if suits were brought, contrary to these agreements, the us government would initiate a statement of interest staying that it had been and was and is in the national security interest of the united states to resolve claims in a nonlitigation context. the us supreme court in the ca case, and judge michael mackenzie, later attorney general on president bush. in the general holy case. both indicated t

just a growth market company. invested quite a bit in the u.s. in the past few years in a company that is trying to which isled letgo, trying to let people sell things that they do not need on a mobile phone. taylor: tell me more about that. bob: it is founded by someone who founded our core classified business and also this company. what it does well, it makes something you do not need anymore as easy to sell as throwing it away. it is super simple now. taylor: we have another question here about being in the midst of the u.s.-china trade war. .ou have been focused on china have the tariffs or trade war impacted any of your relationships between the u.s. and china? bob: if you look at the investments that we have in china, in $.10 i think tencent is mainly operating domestically. it is a strong franchise. i would say the operations of the business has not been so much impacted. i think it obviously has impacted investor sentiment, and that has had an impact on their share price and ours as well. taylor: are you p

company. and i think if we want to look at how it's doing its business practices, it's important to do it in a very thoughtful way. i know that the department of justice and the federal trade commission are also talking about doing investigations into anti-competitive practices of these companies. and it's good to look at this and investigate it and make sure the companies are behaving -- i'm not sure breaking companies up is a good idea. these are big companies with a lot of tentacles, a lot of employees and if you break a company like that up, if you can manage it do it, there's going to be unattended consequences. >> tonight at 8:30 p.m. eastern on c-span2. >>> next on c-span3, a house judiciary subcommittee on whether big tech companies like google, apple, facebook and amazon engage in anti-competitive practices that hurt smaller online companies. rhode island congressman david cicilline chaired the hearing. >>> good afternoon. the subcommittee will come to order. without objection the cha

the company, too. that's highly proprietary. >> what do you do with that information? well, it is part of our value proposition to market. we share it with the company's permission. we use it to help and if you have seen direct listing lately, we are involved with the two that were gone with spotify and slap. we help set the reference pricing. >> kelly, is there a situation in which when an employee or institution wants to sell in which forge orac kelly rodrigue would buy the stock. you don't have to necessarily be the pivot point. you can be buying in situations where oh yeah, we'll take that. >> so we have a couple of partners now that we announced one earlier this year. some of the largest banks in the world trades through us. largely for european and asian investors to invest in baskets of pre-ipo stocks. they are very close to us and very close to the data so that they can essentially be a new source of capitol and demand for companies and investors. they don't want to buy a single one but a baske

apple is a huge company.le can only move in directions that will be very large in dollar volume. we have looked into other products like watches. heck, that is about my favorite piece of technology in the world right now. when apple pay came along, apple took a lot of steps leading the industry. things like touch id, all the other smartphones had to copy it. now we have face id. we took the touch id and moved it into apple pay. a system that really protects your identity and credit card purchases everywhere and is so unbelievably easy, especially if you have a watch. that is important. making life easy is what we were known for in computers. these were computers you did not have to be an expert to use. now, apple pay, the apple credit card is even more secure. first of all the looks of it , fits apple's branding. apple's branding is to have a lot of secrecy about what they are doing but also styling and beauty. things like that. this card is just the most beautiful card i have ever had in my life. i don't eve

they say they are a tech company, media company, interactive software company, retail, apparel, logistics. come on. really can you be all that? >> we're big fans. >> you just called out a company that claims it's a tech company that's not. what about a company that claims it's everything to everybody. >> the great thing about peloton is that everybody you know that has one, i'm talking about the bike, everybody you know that has one just raves about it, loves it. you know, if you told them they had to get rid of their peloton subscription, i'll get rid of anything else. while you know i don't know enough about the company's financials, you have a customer base that loves it, loves the product that much and is that sticky. i know it's incredibly low churn particularly in the fitness space where people join gyms and stop going after valentine's day. he's on to something. and that something is probably something pretty big. >> address it in the way that you're able to. i know you probably have restrictions around it and things you are not allowed to talk about. >> the two things i would say

hey, we're just the telephone company. do what you want we have no responsibility for that and what's happening with all of the companies like facebook and others is the companies are realizing actually we are responsible for what happens so in this case to jon's point, this is a holistic service being offered. no issue with hiring people to do part-time work, they don't have to be full-time employees, but ultimately more value needs to be shared with people that do the work. >> if you're a believer in the long term plan, that the driver really is extracted from the process, maybe it would be true then, one day. >> it is a ludicrous dream that in a few weeks or months we're going to wake up and not have any drivers because it is all self driving this is decades away, except in extremely limited close circuit things where it is a bus that does exactly the same. the idea that cars are driving all over the place in a few years, it is so far off, we don't need to think about it >> i would argue the other side of it. if drivers

companies arehat involved and what do they want? >> any number of companies.hina is the largest market. you name it. companies that you've never even heard of, they need this access. huawei is a big customer for them. that is not to say they haven't been supplying huawei in the interim. there was the initial shutdown, then they looked at the rules and regulations and found out, we can sell quite a lot of what we have regardless of this clampdown, but this would make the situation more stable. taylor: sarah, aren't these companies worried about ip theft? doesn't this get around that issue of protecting your data? >> what the chipmakers are arguing is the products they are selling to huawei or international security concerns. huawei is on this trade blacklist for these concerns. there's links potentially to the other activities like spying which the company denies. these companies are saying they are not caught up in these allegations. so i think for them it just doesn't make sense. according to this letter that they've written to secretary ross, the longer that

the company is putting together. the company is splitting they're both going to be great we would own them -- we have honeywell for the charitable trust. you can follow along the only candle can hold a canned toll honeywell is utx stay with it nice going boy, i wish i could recommend that roku. i like it. but when these stocks break, well, it's tough to call the bottom look at micron we don't know yet. after the conference call. listen, it's not going easy to figure out how to price in' a recession, i mean impeachment, this is an erratic market. it's an emotional market, and you've got to steel yourself and get used to it and strap yourself to the mast on "mad money" tonight, herman miller should be sitting pretty after the rise in earnings, i'll give you my take and how much of peloton's moves today were just spin i'll tell you if it could be a smooth ride going forward for investors. >>> plus, take to it the house i'll check the foundation of the home builders with one of the leading players in the space may i sugg

ins is a tech company quotes, but a real estate company in practice. i think it feels closer to that range, 10-15. do an ipo they don't this year, how does their balance sheet look? it starts togene: get stressed at sometime next year. that is why i think adam starts to move toward a chairman role. the balance sheet needs work and will need some help. close to $1 billion. $700 million seems to be the number that would get them to a more appropriate ipo. if you look at a chart here that i am showing our bloomberg audience, it is that the bondholders have held in pretty well. i believe i was reading that there might be a clause that if there is a management change, bondholders would have to get cents on the 101 dollar. gene: news to me. that could impact some of the forces at play. 101%,tely, if it is just i think that doesn't change kind of how i feel ultimately that change at the top is needed here and we will get that. taylor: it is a roundtable monday. loup ventures co-founder gene inster, and abby alderman san francisco. coming up, we will discuss t

i mean companies love competition let's have some competition so can i. it's still to best thing you can do to good for me or to every c.e.o. . what well about i know i want to take that challenge i think america for every c.e.o. would be good but but even with america i think some might turn out to be rather shortsighted you know when they need to do something which to me are to look into it and to answer the question would it be to produce and their companies a contributing something meaningful to society and if not then you can maybe call you companies with you missed the point why we have an economy. but a lot i just want to ask you for your quick reaction how do you feel do you trust business i mean you've had the experience of partner actually with businesses what have you learned in your experience but is sent to by using them. and just generally speaking how does your generation see the business world. as a step to getting to where it is we want to go with sustainability i think we're seeing a lot of commitments come out but again i think that if

there still a shareholder in the company?s. >> when you're doing training, he said something about colonel sanders from kentucky fried chicken. what you said was taken out of context. >> absolutely. there's a tape that is anti- racist. everything i said was positive for diversity. i think i said was colonel sanders called black people feet and work. i would never call back present the n-word. i wasn't raised that way. what's unfathomable -- >> your saint he said it. but when you said that, he said the word. >> yes. unbelievable, the old board and the old executive team used black community, grace and media to steal the company and they stole it and destroyed it. >> you founded and built the company and your saint it was to get you out and take over? >> yes. infected. the only way you take papa john's or steel company, you get rid of me. the only way. i'm the founder. the only way you get rid of me to play the race card. they played and played it to the health. >> so who did this? did you know there was upset behind her back?

you know, they run the company and i have a great senior team most of the big decisions of the companyre made by them of course, i get involved and i'm there to support them. i'm there to challenge them. you know, i can be demanding of them certainly when it comes to quality and behaving with integrity but i give credit not because it's cheap to do because it's the truth >> okay, that's good apple, bittersweet, i think because you had -- you felt -- >> leaving the board. >> i feel they have have a powerhouse entertainment slate why isn't that something disney wants to be affiliated with. >> it was hard for me to life the apple board. steve did talk to me about joining the board before he died and because he had been on the disney board, he -- i couldn't be on the apple board. you know, it's not considered appropriate. i think it ulee -- i think the new york stock exchange doesn't allow it the interlocking board memb membersh memberships. i believe that is what it is when he died i was asked to essentially you know, become replace him on the board, not replace him in total but and i jus

stand-alone companies. all work. >> to be fair to weworks chief executive, he remains a 22% holder in the business. who else is long is softbank. a talked about them as venture capital company. how much is this a problem for softbank when not only is wework coming in at such lower -- what you think it's is about them? >> that's the correct question and that's the next big story. othernk is amongst financing vehicles, softbank has been issuing debt and part of toir ability to raise debt make these investments is they ise marked their portfolio the most recent private valuation. some of the collateral they have been borrowing against has been $45 billion market which was the last private valuation. you are about to see their mark of down. to decline.ntinue slack is a great company but they are massively overvalued right now. the next week story is going to be the ripple effect or echo effect in the blast zone and softbank is a few hundred yards away from this blast zone. we're going to see a lot more stories

the company easter risk. but i'm more interested at $14 a share and not 27 >> why that number >> if you look at fundamentals, to really love the stock, you have to believe is going to do what uber did. everybody had doubt about uber when it first started growing. they said oh my god, it's going to take up so much of the market this could never be a big company. it grew the cab market by three to five times. you have to believe in the peloton case, it's going to grow the gym market by three to five times. i think it's really hard because uber was cheaper than a cab. a >> and sarah, people in the last couple of weeks have focused on a business mod el it's their use of music. they have a lawsuit that's doubled to $300 million against them saying they found 1300 more songs used without permission. in termses of business ris b b k, this would seem major >> it's huge when people are going to invest 2,000 in a bike, 4,000 in a treadmill and 4,000 a month on software, they need to enjoy the experience if they're not

this is an argument you also hear from smaller companies, because sometimes the bigger companies wantegulation to entrench their position and make it harder for smaller competitors to come up against them. it is a conversation that has been going on and uber has a opined on it. >> at the time the bloomberg ceo was talking, bank of america came out with sentiments being at a low point. do you get that sense as well? in california, i think ab 5, the law that says if an employee is part of a company's core purpose, they need to be classified as an employee and not an independent contractor. not thinks drivers should necessarily be classified as employees for them, and they are going to fight this in court, but he did say they were kind of coming to this. i am not sure that they were fighting about this very strongly for a long time. we will see how it goes. me.hank you for joining --ther bump in the rpo bump in the road for wework. it will likely postpone its ipo for next year. steppingows the ceo down, taking a role as a nonexecutive chairman. wework ahead of initially sought to go publ

that made it a lot harder and more expensive to be a public company.o that, the jobs act was passed in 2012, and that quadrupled the amount of private investors you could have. if you're a company now, you can have 2,000 private investors as opposed to 500. in addition, there's a macroeconomic story here as well. there's liquidity from available from all over the world. all these alternative sources of capital, accessing capital markets with the regulatory burden that you just said is not necessary anymore. maria: yeah, but there's still all this uncertainty over so many things whether it's brexit happening in october, we think, we don't know, or the china situation. how is that uncertainty impacting the companies you are, you know, trading for and helping to raise capital? >> there's no question it's on everyone's mind, but what we're seeing with a lot of the companies that have manufacture is they're actually moving their supply chains out of china. they're moving to vietnam and other low cost areas. you don't just have to sit here and take higher co

the company's lack of profitability?ople like to blame the bankers very quickly for pricing an ipo too high. normally, institutions like to pop. but this market is a tough one. all year, like i was saying, the ipo's traded very well but now we are in a situation where it is just not working for them anymore. taylor: that was bloomberg's sonali basak. coming up, delivery game on. this luxury delivery platform is ramping up its competition with amazon by shaving a day off its free delivery service. we hear from the ceo next. and if you like bloomberg news, check us out on the radio. you can listen to us on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ taylor: is two day free shipping speedy enough? verishop does not think so, which is why they announced free one-day shipping for all purchases. they are going even one step further, allowing all customers to benefit from the offer without a membership fee, subscription, or minimum purchase. but is it enough to compete with amazon? to di

the entrepreneurs, the companies. we want to do our part and help where we can we want to be behind and helping people. >> also, to attach a name to it immediately comes with a certain stigma it's important we lay the groundwork early this way you establish validity and credibility within the industry, it's very important. >> what does euro lo decks bring in i read you bring in seth curry, others in this space i imagine >> what i'm trying to do is simply help athletes grow and grow their value for us as athletes, it's difficult you retire, you step away from the game because it's been such a liquid business for us, how do you build value post-retirement, post-career? what do you do i'm trying to give opportunities to some of these other guys and vice-versa >> is that a significant part of your client base is athletes or how much different does that drive the vision of the fund >> look both athletes and tremendouspreneurs people assume you are good at everything it's not necessarily true. so whether you are building a

and some companies and i'm. like i want to join more than a. mcdonalds bring us starbucks. most of real or some big brand names. we had to insist since the sixty's coca-cola has been painting the way for other multinationals. of the day there are good dentists and bad editors the bad news in yemen the united states deems to be a threat the looked at those who work in syria the cia and the u.s. military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up the right way military windows funding an army of death squads there's no phones anymore because there's always a small call of people for really good that's good for profit. what politicians do. they put themselves on the line they get accepted or rejected. so when you want to be president or injury. or somehow want to be rich. that you'd like to be precipices like that before 3 in the morning can people get. interested always in the waters in the college. there should. i. i i i i. i i i