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

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

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

tech companies, but u.s. tech companies are now caught up in the tariffs. the december 15 tariffs will hit 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

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. -- officer. 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 bui

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

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

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

you said wework to you is a real estate company and not a tech company. there is another company that will have its road show as early as tomorrow. and that's peloton which tells the world it's an everything company. i can go down the list and read exactly what they say they are, tech, product design, social connection, apparel, logistics. >> no machine learning >> not yet. what does that say, though, bill, about these companies having to sell their story as best they can to the market place? >> i think being good at narrative in the public markets is extremely powerful. it's the best are always great at being able to tell their story. >> there has to be substance behind it. >> absolutely. the best is to have a ton of substance and to be a great story teller. >> i think peloton has an interesting brand, interesting product. i think a lot of what you are seeing them opine on is how they can leverage that brand to be more relevant to the consumers they serve, the people who use it are fanatical about it. they have a significant pricing umbrella and they hav

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

you know, these companies are very big, very important companies.ernments are thinking about these things, that's not a surprise. thisnow, i was naive about , but i was a long time ago and i did not realize as microsoft gets successful, we would come under scrutiny, and we went through our thing back in the 1990's, and that made us more thoughtful about this kind of activity. quakes do you share the government's concerns that any of these companies or all of doing things, or abusing their power and influence in such a way that it undermines either the political system -- and we have heard about that -- or perhaps the consumer economy, and we have heard about that, too? quick setting these companies are behaving totally legally. they are doing a lot of innovative things. i think the stump in his are behaving totally legally. they are doing a lot of innovative things. had a media, nobody crystal ball that in some ways, that would be a way of radicalizing people or splitting them into different groups. what exactly the solution to , to not being pulled

are down rounds for companies.bably reflect reality better than the private investor is willing to pay. >> kevin, casey, thanks for joining us jon, crooked smile, it is going to be a big show when you start with a joke. >> all day, morgan >>> still to come on "squawk alley," ftc commissioner rohit space chopra joins us with investigation into amazon. we'll ask him about that in a few minutes. ♪ ♪♪ ♪♪ ♪♪ this is hal's heart. it's been broken. and put back together. this is also hal's heart. and this is hal's relief, knowing he's covered. this is hal's heart. and it's beating better than ever. this is what medicare from blue cross blue shield does for hal. and with easy access to quality healthcare, imagine what we can do for you. this is the benefit of blue. >>> welcome back to "squawk alley. apple is trading lower goldman, sachs cut the price target this morning. lowest on the street at 165 a share. josh lipton is in san francisco with all of the details. josh >> reporter: so morgan, a big call from a big analyst,

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 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

it was a physics-based company. everything that they did to metaphysics and they along with hewlett-packard are basically phd students would work on the war effort at stanford. when that ended, stanford essentially enabled those folks if the one to start companies they gave them really cheap ground leases and that is why we have page mill road. it was the first time i really worked in tech or biotech. i knew nothing about physics. i would go to the stanford library in the berkeley library to find physics for dummies basically to learn about it. but i found myself motivated by biotech and so i've been at biotech since that time. and from there they do make linear accelerators for cancer treatments so that's regulated by the fda. but i but i went from there to v company where i was general counsel, a public company called monogram, and from there i went to genomic health after nine years at monogram, which is against a company in the same space. and that in november 2013, 23andme, what is really probably the most red

you have rival companies that lease instead of own out there companies. from the bottom line? amy: our model, we look at it as real estate lite. we are not engaging in massive build outs. because we are catering to a demographic that wants more flexible workspace, the riveter is able to go into spaces as they are, mold them into what our brand is, without doing a large buildout. we can take shorter leases with options to renew and our buildout costs are much lower and we are amortizing them over the life of the lease. taylor: are you profitable? amy: all of our spaces are cash flow positive, which is a big moment for us. taylor: do you view competitors like wework as a zero-sum game or do you think if they succeed and highlight the success of co-working environments, that everyone can succeed in that space? amy: i think co-working is an industry that is just beginning. as the future of work changes to be more flexible, freelancers and people working in the remote and gig economy will need spaces like this. i like to think of our spaces and how we can cate

like facebook and other large tech companies? when these privacy issues are bubbling up every few weeks or sometimes every few hours or every few days, where is the bar now for what will a fresh ftc investigation? >> host: emily birnbaum, same question. >> almost immediately after we found out the ftc headset with facebook, facebook disclose they were also undergoing an antitrust investigation from the ftc which is ongoing. we don't know very much about how that a split so far. and then shortly after the department of justice their antitrust division announced they are probing some of the top tech companies. we can discern which companies they are looking into from their description of the investigation. we found out the department of justice is looking into them for competition issues, antitrust issues. it's still far unclear if that will result in action, if this is, you know, how much this is going to affect these companies but it's a big deal to be under federal investigation. it really makes you rethink every decision you ma

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

eventually the truck company would be bought out by the diamond truck company, but the r.e.o. was so popular they were called diamond r.e.o. so he was always with the r.e.o. company throughout maybe 1936 or so, when it ceased to exist, the car portion of it. he did much more than the car company. he was a philanthropist, did a lot of things for the community. one big impact that he had on lansing, we are talking about going from horses to building cars and all the ancillary things that go with that, the mills, shops, the forges, oldsmobile at one time had 21,000 workers there plus fisher body, which was even more. maybe have that many. that is how money people in one way or another he got to work. he was major. if you take lansing and you take r.e. out of the equation we wouldn't have the manufacturing we have today. he started the manufacturing. that is why we've the manufacturing in lansing today. >> are cities tour staff travel to lansing to learn about its rich history. to watch more video from lansing and other stops, visit you arerg/citiestour. watching american history

companies.t some data shows that there are 156 chinese companies on the three biggest exchanges in the u.s.. this is not small change we are talking about. for some of these companies, it has been a huge win for them to get into the u.s. market. they have seen a rules-based approach and ways for these companies to expand themselves. it would be a big move for these companies and it would not be taken lightly. >> tell us about peter navarro, the white house trade advisor and one of the primary sources behind this thinking. quite all along in the trade war, the question is who has trumps year? there is always a lot of speculation. with a proposal like this, it's clear that advocates like peter navarro and outside advisors like steve bannon are behind it. they are some of the key advocates. they are very hawkish on china. as i said earlier, they really see a decoupling of the u.s. and china whether it is a ninja markets or otherwise as a key of punishing china cutting them off. they see china as a

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

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

to tech companies such as yours. a law which in essence says that the tech companies can't be held legally responsible for online content that is on their platforms. is it your contention but but must now change? actually, yes. section 230 of the communications decency act. it was created in the 1990s when the internet was reallyjust taking off. the notion was that the best way to enable the internet to ta ke best way to enable the internet to take off was to give to interactive services immunity that journalists, networks, television and radio had traditionally faced for content. i don't think that one should just abrogate what was created in the 90s, because i think that would probably virtually suffocate social media. but the time has come to accept that there needs to be some exceptions under some new responsibilities for companies, including our own, responsibilities for companies, including ourown, in responsibilities for companies, including our own, in this space. you say including your own, but the sceptic i

like facebook and other large tech companies. when these privacy issues are bubbling up every few weeks were sometimes every few hours or days where is the bar now and what will merit a fresh investigation with emily birnbaum, same question. >> almost immediately after we said found out they settle with facebook facebook disclosed they were also undergoing an antitrust investigation from the ftc which is ongoing and we don't know very much about how that has played out so far and then shortly after the department of justice there antitrust division announced they are probing him of the top tech companies that we can discern which companies they are looking into from their discussion of the investigation and find out that form of justice is looking into them for competition issues, and i trust issues. it is still so far unclear what will result in action and if it this is you know how much will this affect these companies but it's a big deal to be under federal investigation with it makes me rethink every decision you make and wha

amongst these types of groups of companies, we also see plenty of companies that are burning only $100illion, $200 million in cash. we work is an exception to the norm, but writing off $37 billion of value over a period of 3-4 weeks will catch the attention of a lot of capital and venture investors. taylor: we can joke about how you value company using a discounted cash flow to evaluate a company that does not have cash flows. but on a serious note, how you value this company? >> sure. the first thing we started by looking at is multiples of revenue. the first thing we found, they were trading at one or 1.5 times revenue. we work earned revenue in 2018, such come out at that evaluation -- so to come out at that evaluation seemed ludicrous. i think the biggest thing for wework is trying to explain itself as a technology company when it is really a real estate company that has some technology bells and whistles. so i think this is a big wake-up call to recalibrate those expectations. taylor: talk to me more about that valuation. what did the private market see that the public markets are

but not growth company necessarily just a growth market company.sted quite a bit in the u.s. in the last few years. a company called letgo, which is helping to let people sell things they don't need any more on their mobile phone. taylor: tell me more about that. >> it is actually founded by the founder close to our hearts. and this classifieds company and what it does really well is make something that you make it asanymore, easy to sell is throwing in a way. taylor: a broader question about being in the midst of the u.s. china trade war. you know you have been focused , on china. have the tariffs or trade war impacted any of the relationships between the u.s. and china? >> so if you look at the investment we have in china, i think tencent is mainly operating domestically. it is a very strong chinese franchise. franchise in different markets. the operations of the businesses have not been impacted, but i think it has impacted investor sentiment. that has had an impact on their share price and ours as well. taylor: are you purposely focusing on com

so we're a home company as well.anges are always a factor and i think the ability for us to serve the customer in acute settings is very important but there is a great shift from the acute setting hospitals into the home so the company needs to be prepared to serve the market at home so we're launching early in 2021 a pump for the home designed specifically to provide safe thirp in the home that otherwise would be done someplace else so we call that infusion therapy in the homesy migration that is good. >> thanks for joining us. >> thanks for the opportunity. >> meg tirrell joining us. when we come back, wendy's joins in on the breakfast wars we'll fill you in next when we come right back. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> we're

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

of a big company like cisco.e market we are in are many more problems we can solve for our customers and there are much bigger and -- there is a much bigger and more successful company we can build. do you see you as acquiring yourself or selling it to someone else? >> we have had acquisitions in the past. might -- taylor: that was the ceo of the data dog with ed hammond. coming up, and internet unit napsff of south africa's berg traded publicly for the first time in europe this week. we check in on the performance with its ceo next. richestd's second person on climate change, we hear from bill gates and his kind of the action we can take now to protect the planet. this is bloomberg ♪. taylor: just last week investors piled into the newly listed internet unit from south africa nass burrs. as 32%jumped as much above its reference point before declining. prosus pulls assets including a lucrative stake in china's tencent holding. i caught up with the ceo and asked what he sees in prosus that investors should be open

we are reorienting our company. young company, less than one-year-old, but the way we are reorienting our company, it is long-term and how we think about long-term value of customers. we believe that by giving happiness to customers on a daily basis by getting them the product faster, having the best selection, best quality, best customer support, for example, we put a customer's separate phone number on the top of the site. by doing so we increase the lifetime value of a customer. we really focus on that. that will create long-term shareholder value for the business. taylor: amazon and walmart have come out recently with one-day shipping. how do you compete? imran: we have to recognize that e-commerce is a very, very large market area if you look at retail sales in the u.s., $5 trillion, only 10% of that is online. retail is one of the biggest market opportunities out there. so we don't think it is a zero-sum game. there are multiple players who will serve the customers and we are really focused on how we can serve

we are a very global company. the majority of our transactions actually are outside of the u.s., so we really look at global growth, to the extent that global growth slows down. that could be a negative for us. although, if global growth slows down, we are going to have more driver partners also wanting to come on the platform, because we expose very, very flexible labor opportunities. so i do think that the growth of the company is such that we'll we are going to be relatively resistant to any macro slowdown, and we are certainly not seeing any slowdown with the u.s. consumer as of yet. emily: what's plan b, if we're in a full-blown trade war? dara: yep. emily: we have heard of investing in vietnam or brazil? dara: we're an asset-light company, so we don't have to buy cars, etc. we will obviously be wary and make sure that our driver partners can source vehicles in an economic way. many of them source vehicles through second-hand. they'll source used vehicles, so to speak. so, i don't think this trade war -- we c

why you have to. >> much of the company's growth happens as a private company now wework going just ipo manage when you could have invested back when it was 50 million in valuation or 100 million. now the debate between 40 billion or 10 billion makes it viable >> you can invest if you're the regular old public what makes you different >> the difference is when a company is still 20, 50, 100 people, and if you invest $100 your potential return can be 100 x or 1,000 the risk is high it's high risk, hype reward. >> it sounds like the worst way to use a credit card for something that's high risk, high reward will you be exposed to i don't know if it's bad for business but regular larts cracking down. >> we have a maximum people do have to invest credit card is just for convenient we're talk about amounts below $100 you look at how every one 40, 50, $60 billion into lottery ticket, it's got to be something the people consider when they make investment. >> listen it's a good analogy every one should know this used to be restricted investing in these kinds of companies that was usually peo

public company. while it beat analyst expectations for both second-quarter revenue and earnings, it projected slower sales growth for the second half of the year. aboutsaid revenue will be $154 million in the third quarter, signaling that strong competition may dent the software maker's rapid rise. shares are falling about 15% in the post-market, following the results that it's poised for a record low. joining me to discuss, nico and larry. great to have you. we've had a few hours now to digest the earnings. give me some of the big concerns here. is the big concern that topline revenue growth? >> well, that's something i don't cover. i cover -- i work for technical professionals. i talk to the geek in the room, the i.t. professionals about installing and securing the software. i can tell you, from my perspective, there is still strong interest for slack from our metrics. if you look at the inquiries we get and other metrics we get around our research reports. taylor: if you say there is strong demand

companies on the day the c.e.o.'s few weeks ago said hey there are more stakeholders than only do shareholders and of course as companies we are not free on topic organizations we need to make money but there are more interest than only making money and there's more interest than only do short term and addressing climate change fire mitigation and addressing adaptation is in the interest of all countries is in the interest of all companies just to future proof your business and invest investors should be interested in how companies are exposed and what companies are doing to keep the business of also in the long run just looking at the world around you right this very moment in time the kind of the global economy is slowing. and there's a trade war going on between the united states and china which is how many impacts on a lot of other countries how is it affecting you how is it affecting the world what's your opinion as to what's going on. well let's have a look to what's happening in the worlds of ways all the trad

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added it to a trade blacklist a chinese company has been showing off the made 30 and made 30 pro at a launch event in munich because of restrictions on u.s. companies working with weiwei the new smartphones are not expected to have any google apps analysts say that could put many potential customers off new features of the may 30 include you guessed it before lance. let's take a deeper look who were forced out we're now joined by d.w. financial correspondent host who is that on wall street hi host of risk evening to you so let's take a look at this launch can huawei truly challenge the industry with all those google apps how do the likes of apple or google itself react today. it is a going to be tough year especially in all the markets outside china will wave the european sales the search 66 percent year on year in the 1st quarter of $21000.00 before the u.s. ban was imposed according to some estimates and by that we validate google apps the a smartphone will have a tougher time in european countries have for example are crucially important markets for a company that has no presence h

indeed with the german companies there were a thousand german companies have participated in the payment of 10 billion, $5 billion. these have been in place from all 20 years. in return for these large payments from germany and some $800 million from austria that companies were given what we call legal peace. these agreements were reached with some of the toughest most renowned class-action lawyers all over the country who agreed to dismiss their suits in return for the payment of 10 billion dollars marks, five early in dollars in settlements and with holocaust survivor groups as well. we did not remove their right to sue. we could not. what we did say and what we have done is if suits were brought contrary to these agreements the u.s. government would initiate a statement of interest saying if it was, is and was in the national security interest of the united states to resolve claims in the non-litigation process the u.s. supreme court and the garamendi case and judge michael mukasey later attorney general under president bush and the general ali case both indicated that these were appr