i'm taylor riggs in for carol massar. >> i'm jason kelly.e are here at bloomberg headquarters in new york. taylor: and in this week's issue the costly farewell brexit is , having on business. jason also, the price of all the : wrong bets that a u.s.-china trade war would be short. taylor: in the global story -- the cover story, we work is expanding. our editor, joel, is here. great to have you. joel: there's a lot of talk around unicorns, and one of those happens to be uber, which went public and things didn't go so well. wework has confidentially filed so that might be still to come this year. in the meantime, they are trying to figure out, how can we continue to grow and come up with the way of funding that growth in a different way that we've been doing. jason what comes out very : clearly in this story, is this is a cult of personality. joel big time. : the ceo, adam newman, is larger-than-life, incredibly idiosyncratic, but has built his company from nothing to something. his character is the force that has driven that, but it also lead

i am carol massar.eek long, we have been highlighting the innovation taking place in the city, a city that according to crunchbase through august of last year's total, overtaking their rival to the south, new york city, with $5 billion to $4.5 billion. our next guest is the ceo of toast, a leading all in one point-of-sale restaurant management platform. the valuation, a whopping 2.7 billion dollars. congratulations. how are you? chris: doing great. good to see you. carol: good to see you again. chris: it has been two years. carol: tell us what has happened. that is a nice capital raise. chris: we have been busy over the last two years. we are really trying to effect a lot of change across the restaurant community, and we are enabling what we call a new era of hospitality, investing heavily in r&d. carol: talk to me about the r&d. what specifically are you looking to do? you have a platform. you have a bunch of services. what else do you want to do? chris: we look at all the stakeholders. the guests, the

i'm carol massar. jason: i'm jason kelly. carol and me for "bloomberg businessweek" every day on the radio from 2:00 to 5:00 p.m., and catch up on our daily show, listen and subscribe to our podcast. carol: and of course you can find us online at businessweek.com and on our mobile app. the u.s. may be running out of options with north korea. jason: those nuclear discussions face collapse since that first summit between president trump and leader kim. >> but the tensions don't jive with what both leaders say is a great personal relationship. our politics editor has our story. >> trump has really taken on the role of being the person that is going to fix this relationship, of being the person that is going to negotiate one-on-one with kim, and as that has fallen apart -- you saw the nuclear negotiator, the north korea negotiator, was in south korea during one of the missile tests that prompted this latest bout of tensions. it is a pretty bold move for them to, for north korea, testing missiles while the u.s. negotiator is so cl

i'm carol massar.is arguably the center of the biotech world, but amongst this competition, moderna stands out. it is based in cambridge, and the company is focused on rna and creating therapies from infections to cardiovascular diseases. they went public last year in what turned out to be the biggest biotech ipo ever. i caught up with moderna ceo stefan to talk about what's changed since the ipo. stefan: i think the big difference for us and our employees is we used to share data all the time, all the time with everybody. to do great, you need to do science and to do science, you need people understanding all the pieces. so that's the biggest change. carol: so you're sharing more data? stÉphane: we're sharing less data -- carol: less data -- stÉphane: because now we have to be careful. carol: because you're publicly held. that's interesting. what's changed in terms of the work you're doing and the perception with your partners? stÉphane: mostly the same. our first partnership with astrazeneca goes bac

i'm carol massar. jason: and i'm jason kelly. we are in los angeles at the milken institute global conference. carol: it is an annual gathering of the most influential people in business, finance, economics, commerce, innovation media, and much more. jason: it has been a busy week. we sat down with people like the bp ceo. he was here to talk about energy. carol: we also sat down with the former whole foods co-ceo. also, the u.s. transportation secretary. jason: also, not to flex, but the edge. joining us now, joel weber. what is this all about? joel: a chance for you to hang out with edge. as many times as possible. this is a massive dealmaker conference. there is programming on main stages, side rooms. opportunities and big thoughts, but it's a chance for a bunch of important people to get together and figure out how they want to deploy capital. jason: it has been named davos of the west. it is the creation of mike milken, a legendary financier, philanthropist, sort of like being in his brain. joel: that is right. it connects a l

i am carol massar.ton is arguably the center of the biotech world, but amongst this competition, modernist stands out -- moderna stands out. cambridge, they are focused on creating therapies from infections to cardiovascular diseases. they went public last year in what turned out to be the biggest biotech ipo ever. i caught up with the ceo to talk about what has changed since the ipo. isthe big different for us we used to share data all the time. all the time with everybody. and tod to do science science, you need people understanding all the pieces. carol: so you are sharing more data? >> sharing less, because now we have to be careful. carol: because you are publicly held, that is interesting. what has changed in terms of the work you are doing and the perception with your partners? >> mostly the same. our first partnership with astrazeneca goes back to 2013. we have a of long-term investors like fidelity, long-term investors for a long time. it is the same for us. carol: what i wonder is, there is so

carol: and i'm carol massar. eek, we have been talking to the top names at the milken institute's global conference. jason: still ahead, b.p. c.e.o. bob dudley. carol: we've also got whole foods former co-c.e.o., walter robs. jason: and joel weber. tell us about your panel this week. it was interesting. joel: so the theme was artificial intelligence. it was a conference between a venture capitalist and the cofounder of a quantitative hedge fund. super interesting people, people who have been near a.i. for decades now. so they have a lot of fantastic insights. >> what do you think in terms of investment potential? everybody talks about a.i. here in the united states, here in china, around the world. the magazine covers it a lot. >> totally. this was a thing that permeated throughout the conversation. i think the crux of it is they feel like we're still in the early stages of what we're going to see unfold. that's pretty dramatic, when you think of how many places a.i. is infused. you interact with your phone. a.i.

♪ carol: i'm carol massar in boston in for emily chang.his is the "best of bloomberg: technology." coming up, we highlight our coverage from boston, including the innovations and industries that are driving the city. we've got guests leading the way in biotech, academia, and sports. plus, we sit down with a guest, getting his thoughts on the trade war, volatility, and the future of professional sports. and turbulence and turnover at ge has upended the plans for the city of boston. we find out exactly what happened. boston is a city famous for igniting a revolution and is once again leading the way. the bloomberg innovation survey finds massachusetts as the second most innovative place for business in the country. and boston is a primary driver of that destination. from venture capital funding to academic brainpower, boston is undergoing a revolution into its economic future. boston, a city that knows a thing or two about revolution is -- revolution, is undergoing a

taylor: i'm taylor riggs, in for carol massar.an also listen to us on the radio upon sirius xm channel 119, am 1130 in new york, 99.1 fm in washington, d.c. jason: am 960 in the bay area and through the bloomberg business app. over in the economics section, markets had priced in a short u.s.-china trade skirmish, war, whatever. taylor: but now they are bracing for a much longer, bruising, drawn out fight. jason: senior markets editor michael regan joins us. you have been talking to our -- our colleagues on the desk and also talking to investors who got this wrong. michael: there's a consensus coming in to may that the equity market was ripping higher, and the consensus was that, ok, the trade conflict with china is nearing an end, they would reach a deal soon. obviously, that got ripped up when president trump tweeted earlier this month that he was going to increase tariffs on existing imports, and then came the threats of another set of tariffs on $300 billion more in chinese imports at 25%. like i said, it was a consensus, and w

i'm carol massar. jason: and i'm jason kelly. are in los angeles at the milken institute global conference. carol: it is an annual gathering of the most influential people in business, finance, economics, commerce, innovation media, and much more. jason: we sat down with people like the bp ceo. carol: we also sat down with the former whole foods co-ceo. jason: also, not to flex, but the edge. what is this all about? >> a chance for you to hang out with edge. this is a massive dealmaker conference. there is programming on main stages, side rooms. opportunities and big thoughts, but it's a chance for a bunch of important people to get together and figure out how they want to deploy capital. jason: it has been named davos of the west. >> it connects a lot of different pieces. you mentioned that media quotient. there has been a lot of food conversations. crazy stuff like a whole thing on psychedelics. when you are thinking about how you are going to invest a lot of money, this is a chance to figure out what the next big thing is. car

>> i'm carol massar in boston, and for emily chang. this is bloomberg technology. coming up in the next hour, we explore the biggest industries in the region, health as we sit down with the ceos of boston children's hospital and health care.com. plus, turbulence and turnover as ge has upended the company's plans in boston. we explore what happened. chinese tech giant report positive earnings results. are doing incent china. we are live from boston this week. innovation, diversity and power of the regional tech economy. we are the greater boston chamber of commerce annual meeting at the austin convention center. this year's theme, women in business. whichever brings together women's from at brought diverse representation of the industry with the people driving the greater boston area economy. we will to that moment. first up to a developing story out of washington. president trump signing an executive order today, as of wednesday, that could restrict chinese television -- took indications firms huawei and zte from selling their lives in the u.s. it is over the new 5

in boston, i am carol massar.ctly one year ago the supreme court overturned the professional and amateur sports protection act, opening the way for legal sports betting. seven states have since joined nevada for offering legal sports betting, and daily sports fantasy platform draftkings is receiving the benefits. joining us now is ceo and cofounder of draftkings, jason robin. so nice to talk to you again. jason: nice to talk again as well. carol: can you believe it has been just one year? jason: a lot has happened. feels like more than a year. carol: what has happened? what have you learned since the legalization? jason: it has been exciting. what we learned, there is a lot that is similar but also a lot of differences from fantasy sports product and how customers respond. carol: is it tougher? jason: i was surprised at how many new customers came on. we thought it would be mostly overlap. about half of our customers in new jersey are brand-new to the platform. we certainly advertise, so i'm sure they knew about t

i am carol massar. it was supposed to be ge's crowning moment when they moved to boston.e along the line, fell out of whack. >> the company announced it was moving its headquarters to boston. >> the ceo was really trying to -- reinvent the company as a digital industrial company. they wanted a software focus. to thented to be closer engineers in boston. boston was a perfect fit. >> ge would build this in the boston seaport district and bring 800 new jobs to the city. boston pledged property tax relief and the state of massachusetts picked $120 million in additional incentives. marty was was exuberant about the deal. walsh was exuberant about the idea. >> they are moving their global headquarters to the city of boston. we have other great companies by general electric is one of those that is such a big win for our city. was still flowing at the groundbreaking ceremony for innovation. >> i think boston should look to the future with great promise and optimism. this is the start of what i would like to call a terrific relationship. >> by the summer of 2017, the ground had sh

i am carol massar. jason: and him joyce and kelly -- i'm jason kelly. s every day on the radio from 2:00 until 5:00 p.m. wall street and. listen and subscribe to our podcast. carol: you can find us online at businessweek.com and honor mobile app. here i hosted a real estate panel with some of the most prolific names in the industry. we are talking about tom barrick, jonathan goldstein, michael nelson and, robert morris, and michael kingston. he is this -- ron kingston. he joined me for a one-on-one conversation. >> we are in the midst of one of the longest recoveries and will probably be the longest recovery in u.s. history. clearly we are later in the cycle. the offering is very strong. we have strong gdp growth, low unemployment, low interest rates, and supply in most of the real estate sectors. carol: you see that continuing? >> i see that continuing. that's a favorable backdrop for investing in real estate. carol: you closed a really big funds this year and am just curious, what's your next big target acquisition when it comes to real estate. a $15 b

join carol massar and me every day on the radio, from 2:00 until 5:00 p.m.et time they're also catch up on our daily show and podcast. and find us online and on our mobile app. in the economics section, it is year of the pig in the chinese zodiac and pigs are the center of a crisis that started in china and has spread throughout the world. it is an outbreak of swine flu that is now threatening the global food supply. our editor filled us in. >> it is the year of the pay, but has not been a good year for pigs. china recorded its first case of swine flu. authorities said it was quickly brought under control. it was isolated and they culled the herd. this is the equivalent of pig ebola. there are no treatments and every paid that gets it pretty much does. jason: let's remind people that half the world's pigs are in china. the number that may be affected of is the equivalent of all of the pigs in the united states. that's the magnitude of this issue. >> right, so the usda is anticipating that as many as 134 million pigs may have to be culled. that is equivalent

♪ i'm carol massar and this is bloomberg technology.oming up in the next hour all week long, we are looking at the best of boston's tech hub has to offer. we discussed what is on the cutting edge in some of the city's biggest industries. the trade war escalates. trump tweet threats and china hitting back. we break down the biggest movers on one of the most volatile days for the market this year. one of the biggest losers of the day was over. can the company shake off the skepticism around it? we're coming to you from boston this week, traveling around the city and showcasing the innovation, diversity and power of the regional tech economy in boston. boston known worldwide for its higher education, 70 top science programs. an area where 49% of adult have college degrees, 40% of which are in science or engineering. we are at the massachusetts institute of technology. last year, the school announced a $1 billion announcement in ai investment and education. we will have more on that later on, but first we have to get to our top story. u.s.

join carol massar and me everyday on the radio from 2:00 to 5:00 wall street time.ten to our podcast at itunes, soundcloud, and bloomberg.com. find us at businessweek.com and the mobile app. in the featured section, boeing is in a serious crisis. two deadly crashes months apart have sparked investigations into products and its training processes. the problems erupted suddenly, but engineers at boeing said they were years in the making. we spoke to reporter peter robison. >> it has caught attention and rightly so, because it is a stunning example of a company that has been known for its meticulous engineering and commitment to safety that is being questioned about that right now. we tried to talk to employees who had been at the company a long time and kept hearing again and again was the problem was that the company had shifted to a focused toward shareholder value rather than its traditional engineering culture, and this is showing up in multiple ways but it was showing up importantly, recently in performance reviews. you had engineers being asked in more specific

join carol massar and me every day on the radio from two-5 p.m. time they're also catch up on our daily show and podcast. and find us online and on our mobile app. in the economics section, it is year of the pay in the chinese zodiac and pigs are the center of a crisis that started in china and has spread throughout the world. it is an outbreak of swine flu that is now threatening the global food supply. our editor filled us in. >> it is the year of the pay, but has not been a good year for pigs. china recorded its first case of swine flu. authorities said it was quickly brought under control. it was isolated and they culled the herd. this is the equivalent of pig ebola. there are no treatments and every paid that gets it pretty much does. jason: let's remind people that half the world's pigs are in china. number that may be affected of is the equivalent of all of the pigs in the united states. >> right, so the usda is anticipating that as many as 134 million pigs may have to be culled. that is equivalent to the output in the u.s.. it only takes s

visit ncicap.org carol: i am carol massar in boston, and this is "bloomberg technology." coming up in the next hour, we are looking at the best of boston's burgeons tech hub. we discuss what is on the cutting edge in some of the city's biggest industries. plus, stocks slide as the trade war escalates. the trump tweet threats and china hitting back. we break cowen the biggest movers on one of the most volatile days for market this year. one of the biggest losers of the day was uber. it'sism p. offerman debut showers. can it shake off scent sim around it? >> we are coming to you from boston this week, traveling around the city and showcasing the innovation, diversity and power of the regional tech economy that is in boston. boston known worldwide for higher education. it includes 70 top science graduate programs. it is an area where 49% of adults have college degrees, 40% of which are in science and engineers. today we are at m.i.t. last year the school announced a $1 billion investment in a.i. research in education with the m.i.t. schwartzman college of computing. more on

i'm taylor riggs come in for carol massar. >> i'm jason kelly.t bloomberg headquarters in new york. >> this week, the costly farewell brexit is having on business. >> also, the price of all the wrong bets that a u.s.-china trade war would be short. >> in the global story -- the cover story, we

i'm taylor riggs come in for carol massar. jason: i'm jason kelly.bloomberg headquarters in new york. taylor: this week, the costly farewell brexit is having on business. jason: also, the price of all the wrong bets that a u.s.-china trade war would be short. taylor: and the global cover story, we work is expanding.

i'm carol massar. jason: and i'm jason kelly. angeles at the milken institute global conference. carol: it is an annual gathering of the most influential people in business, finance, economics, commerce, innovation media, and much more. jason: we sat down with people

. ♪ ♪ ♪ carol: i am carol massar in boston, in for emily chang. this is "bloomberg technology."our, we look at the best boston's burgeoning tech hub has to offer. the cutting edge in some of the city's biggest industries, and today our focus is on the environment, which brings us to where we are, the kennedy

. ♪ >> i'm carol massar in boston, and for emily chang. this is bloomberg technology.r, we explore the biggest industries in the region, health as we sit down with the ceos of boston children's hospital and health care.com. plus, turbulence and turnover as ge has upended the company's plans in boston. we explore what happened.

david: many thanks to bloomberg's carol massar. the latest issue of "bloomberg businessweek" on the stands right now. coming up, we take a look at hollywood powerhouse endeavor's plans to go public. this is bloomberg. ♪ ♪ david: it is everything you need in one sentence. ,ollywood, are you manual endeavor. toeavor is going public now do all of the things they are doing, which goes well past representing talent. lisa: what i think is interesting is in some ways this is unique because of the entertainment aspects. on the other hand, this falls exact into the script companies raising billions and billions of dollars in private markets before trying to cash in on public markets. this company has raised more than $4.6 billion in long-term debt, including from private equity companies. david: one of the things they had to warn about in their papers to go public was the packaging fee. they have a lawsuit against them by the talent they represent. if they lose that lawsuit it could affect profitability, so it draws back in the issue with w

. ♪ ♪ ♪ carol: carol massar in for emily chang, and this is "bloomberg technology."ton, highlighting the innovation and industries that drive the city. we are at reebok headquarters where we will hear how innovation is driving product design.

visit ncicap.org carol: i am carol massar in boston, and this is "bloomberg technology."e next hour, we are looking at the best of boston's burgeons tech hub. we discuss what is on the cutting edge in some of the city's biggest industries. plus, stocks slide as the trade war escalates. the trump tweet threats and

. ♪ ♪ i'm carol massar in for emily chank. this is bloomberg technology. headquarters. we'll hear how innovation is

. ♪ ♪ ♪ ♪ carol: i am carol massar in boston, in for emily chang. this is "bloomberg technology." at the best boston's burgeoning tech hub has to offer. the cutting edge in some of the city's biggest industries, and todaoufo

with robinson sat down carol massar and jason kelly to find out if the ban could slow the progress ofy. chuck: about eight months, when all of this began, our teams proactively started thinking about this, and we have three parts of our strategy around this. one, we will continue to dialogue with the administration to try to influence the outcome. second, we will optimize our supply chain, because we have a globally distributed supply chain that we have the capacity to move things around on on a regular basis, and our team does that as part of doing business. that is just what they do. the third was if we can't mitigate it, we will obviously pass through pricing. and our teams did an amazing job over the last eight months and actually put us in a position where the latest 25% had a pretty nominal effect from a pricing perspective that we had to pass through, because they did such a good job of optimizing our supply chain. carol: is this more difficult, though, the longer it goes on? chuck: my concern is if we move to the next phase, the concern is not for the impact on us, our concern

. ♪ ♪ i'm carol massar and this is bloomberg technology. hour all week long, we are looking at the best of boston's tech hub has to offer. we discussed what is on the cutting edge in some of the city's biggest industries. the trade war escalates. trump tweet threats and china hitting back. we break down

insist on disclosure of the so-called beneficial owner, which is drug and for is it jason kelly or carol massarotherwise you are looking at a , situation in which almost all free ports only require you to disclose the name of an owner. the owner could be xyz corporation and nothing more. it is very hard to figure out who owns these and have they been sold. because until they exit, they might have changed hands once, twice, or three times. jason: on the back page of the money issue, i love this. how history's richest people measure up against each other. carol: perfect thing to talk about at your barbecue this weekend. let's get details. >> jeff bezos is one of the richest people ever, but certainly not the richest. his greatest competition comes from another pair of americans. the robber barons -- john d rockefeller and andrew carnegie. what we are trying to do is with this piece is figure out what their network would be like. not using inflation, which is often a method, but something called relative outlook. looking at how much of the economy john d rockefeller had, in comparison to bezos, an

. ♪ carol: i'm carol massar in boston, in for emily chang.omberg: technology." coming up, we highlight our coverage from boston, including the innovations and industries that are driving the city. we have got guests leading the way in biotech, academia, and sports.

i'm carol massar. jason: and i'm jason kelly. we are here at bloomberg headquarters in new york. s issue, the secret museums hiding the world's greatest art. jason: and the potential $7 billion tax bill facing the heirs of samsung's chairman. carol: the haves are richer than we all thought. jason: but there is one man uncovering inequality in a whole new way. joel weber joins us now.