cory johnson. -- back to cory johnson. we are not getting a reaction from amazon. re be a reaction? is jeff bezos big enough to ignore this? cory: i think amazon is going to publicly ignore this. , they havecompanies more focus on limiting their public relations two things that talk to readily to consumers. this is a company that is focused on consumers. the president might be critical of amazon, but it is hard to imagine being critical of people shopping online is that is the thing that is vexing retailers. people are finding greater convenience and shopping online and that dramatic shift to one amazon and other companies like walmart.com is really what underlies this big change in the world of retail. given that really tough reporting and i say reporting, not just the editorial page in the washington post about this president, i think it has a lot to do with the president's anchor -- j -- president's anger. vonnie: want to reiterate, the president's strategy and policy council has been disbanded. disbanding,o be following six business leaders resign during -- resi

with me in the studio, cory johnson.evin, you have to give us a roundup of what happened in this press conference. president trump very defiant and very hesitant, to lay blame essentially. reporter: president donald trump defiant against criticism for his response to the charlottesville tragedy over the weekend. he says there are faults on both sides here and i can tell you that already a crowd of protesters had gathered about a block away from where i'm standing outside of trump tower. president trump taking on the media as well as others for what has gone on and what he feels is unfair treatment. he criticized heavily and defended heavily his very own position following the charlottesville tragedy. it comes as he is facing intense criticism from ceos and also from republicans within his own party. this is supposed to be a press conference of sorts or a public commenting period to announce a second round of infrastructure executive order. all of that is now thrown out the window with the headlines dominated by his comme

joining us now is cory johnson. k a lot about this new product that we will get more details on down the road sometime and so forth, but some other interesting things about the results. cory: i think it is right to look at this service and what disney is doing here. is the biggest media company in the world. with the theme parks, the marvel stuff, the star wars stuff, the disney stuff, the lucasfilms stuff. they got so much in terms of ability to offer content. they are unique among all of the big studios in the ability to create their own over-the-top network, and sports. these results tell us why they have to focus on that and what kind of strength they bring to were. bring.ngths they a very strong quarter for theme parks in terms of revenues and operating margins. sell more, and make even more. vonnie: films did you earnings were down 12%. revenue was down 16%. maybe the tv series is part of things doing well, but their content game needs to up itself, right? cory: they had a tough year compared to movies in the s

cory johnson, thanks so much. bob o'donnell, you are sticking with me.esla is making its debut in the primary corporate bond market. elon musk bets on a more affordable electric car. he plans to sell bonds to support spending on the electric car. the sale will also bolster his balance sheet. tesla burned through $1.2 billion in cash in the second quarter. coming up, it a google employee's anti-diversity plea enrages the company. megan smith joins us next. "bloomberg technology" is live streaming on twitter. this is bloomberg. ♪ emily: alibaba and marriott are teaming up to tackle the chinese tourism boom. they will set up a joint venture. marriott has 6000 hotels. china is now the world's largest source of outbound travelers who spent more than $100 billion in 2016 spurring changes across the global tourist industry. an internal battle over diversity at google has gone public. it began when a male engineer sent out a memo arguing google has a politically correct monoculture that ignores differences between the sexes and there are biological reasons he ar

also is cory johnson.he ceos came to the conclusion they wanted to step down and then trump says this. what is your reaction to how this unfolded? marty: it was a very bizarre scene where you had ceos trying to jump ship after the ship had failed. we have broken the news that the advisory council had been disbanning. tweet trump tweeted his you showed and then ceos continue to resign from a council that was disbanned. was a poort it ability to associate themselves with these councils. emily: what the questions about why some of the ceos took so long to come to this decision. earlier about this. take a listen. fearere are some ceos who the president's retaliation against their company if they resign. a numberhy i advised of ceos who ask me not to join president trump's counsels because i told them i think things will happen with good probability that will make you want to resign. they did ultimately decide to disban. got a statement that thing a debate has become a distraction of our well intentions and des

cory johnson joins us in new york to explore all of his options, maybe not all of them. would be impossible, he has shown us a capacity for a lot of changes in business, although he claims to have a 300 year plan for the company. this is really interesting, the notion, this tireless interest in the us thousand of this interest to look at t-mobile. vonnie: the charter has gone away for the moment, but they have not gone away for good. which would be better for son a deal comes to sprint, with comcast or t-mobile, another carrier? cory: you can see in the immediate term, t-mobile is obvious. they are looking at the point five g spectrum, they are both fighting with the giants. under the trump administration, they think they can get approval they could not get under obama come as a look at the market share of the major phone companies. you see the chart it shows you that verizon and at&t have a well over half the market out there. and for anybody else to compete, son does not want to be third or fourth, so the growth of t-mobile is getting closer to that and he wants to be

emily: marty shanker and cory johnson. moving to earnings.isco's transition into a company that is less dependent on hardware is hurting its overall growth. predicted another revenue decline. sales may decline as much as 3%. check us on bloomberg tv on thursday morning 9:00 a.m. new york time. coming up, record profit in the last quarter. we will bring you the details next. this is bloomberg. ♪ emily: tencent reported monster growth in the second quarter. the results were boosted by its which hasapp, wechat, over 960 million users. sales from online games jumped over the period. has rallied over 70% this year, making it that second-best performer on the hang seng index. i want to bring in stephen engle from hong kong. good morning to you. what would you pull out in terms of highlights from this report? stephen: when you look at the wechat numbers, 963 million. if you add another social media platform, it is more than one billion users. they are doing better at monetizing that user base in to drive mobile gaming and making an ecosystem for tha

we are joined by cory johnson, and with us from london, caroline hyde. no more netflix. at does this mean? cory: i think this is a big deal and we need more clarification from disney. let's remember that when netflix contract, it was a hit. they had to change their business model and go with a lot more original content. the markets were more forgiving. but netflix became a very different business. netflix has still had some of those great big hits. the biggest movies out there, they were saying, we will have "the avengers." we will have our own partnership with disney with "daredevil," and plannings," for a movie that they would hope would rival "the avengers." now it's up in the air. i would be curious to see what disney has to say about it. looked, a little defensive, saying we will still do business with our former andner, but doing business having their best movies and content on the platform are two different things. looking at headlines now. netflix says they continue to do business with disney on many fronts. bob iger on the call right now saying that is and pixar

we want to turn now to cory johnson for a little bit more perspective on this. , this was to be expected. cory: this is so out of the ordinary. high-profile names and big firms like benchmark, you just never see this kind of thing. right after the news crossed come i was talking to an entropy nor saying that benchmark capital was one of the premier firms in silicon valley. that goes all the way back to ebay and little things like that. the best investment of all time was uber. their investment is currently valued at $10 billion, larger than the fund itself. it is a simply amazing return that they don't want to spoil . i talked to a startup entrepreneur yesterday when the news crossed and he said i will never accept benchmarks money. if they're are going to sue the ceos, those aren't the investors and want to have. vonnie: it is all blowing up and suddenly do they feel like they have to get in the first court case because there will be a reverse court case otherwise? cory: what's interesting here is this notion of abuse, the notion that travis kalanick defrauded f

cory johnson joins us now to break it all down. what do people want from snapchat? ppearing messages. less disappearing stock price. we have had disappearing stock price. i think really importantly for snapchat, the progress the company showed before the ipo got a lot worse right after the ipo, and it really made it look like the numbers had been painted to look good to sell a livestock, and they reverted back to the norm -- a lot of stock, and they reverted back to the norm. the gross margins are sort of amazing. you should sell something for more than it costs. that is the most basic concept in all of business. these guys, the cost of providing this service, you can decide for yourself whether you think the service is cool or not. it.ers seem to love who does not need a dancing hotdog? vonnie: i could not have said it better myself. i think you have an example later on. markcory: yes. my kids love the dancing hotdog. they have to add users. 100% of its revenues are from advertising. google and facebook have that someone up right now on mobile. cory: the numbers are

for more let's bring in bloomberg's cory johnson with me in our new york studio. ry, to some extent this is something blue apron needs to do, shareholders had been saying cut down on marketing costs and boy did it slash those marketing costs. cory: the problem is coming into this quarter, sort of how this business works, they spend a ton of money on marketing and what they don't tell us, so important, how long they keep a customer. the marketing cost is the percentage of revenue when you look at prior quarters going into this quarter and into the i.p.o., the marketing cost depending on revenues was a very high number and it was amazing to see how much money these guys were plowing into the market into the world to try to acquire customers. vonnie: these companies spend money to acquire customers and keep out other companies but if another company comes along with more venture money and acquires those customers six months later, what's to say blue apron keeps its customers. do we ever find that data out? cory: that's the number we want to know. we want to know the c

. -- by bloomberg's cory johnson and andre iguodala. bloomberg. ♪ vonnie: this is "bloomberg markets." lure a topo technology company to the firm. they have high you're an executive from square and -- hired an executive from square and has relaxed is a dress code. i do not know about the last one. will that attract more tell it? >> i think they think so. the new chief informational officer alicia went out to almost 9000 engineers and said, hey, what can we do to make this place feel more like silicon valley, a top tech firm? one of the things he heard was, we do not want to wear a suit everyday or buttoned down the shirt. relaxing the dress code was one way to a jurist those wish -- address of those wishes. vonnie: what is goldman trying to do? what is the end goal? >> the end goal is to a tract the top -- attract the top of coming out oflogy college and also folks in midcareer's stages of computer programming and developing and things like that. in the past, they got a lot of good talent and some of the best , certainly, the firm is kn

cory johnson, here in new york. betty: that was cory johnson on disney.iness headlines. reliance industry executives have told bloomberg the company plans to refinance a significant portion of $12 billion of borrowing that are due to ensure over the next three years. our sources say that may include tapping the bond market. reliance's are borrowing has bloomberg since tight 12 as the group invested in telecoms and petrochemicals. haidi: fashion houses ralph lauren and michael coors posted profits that beat estimates after moving away from deep discounting that squeezed earnings and eroded prestige. michael coors' ceo says shoppers have become more focused on the product rather than finding a low price. -- thepanies focused companies posted their biggest rallies in 18 months. that is almost it for us on "daybreak: asia," time for a quick look at the next few hours. clearly china front and center again today, but also politics you will be watching as well. rishaad: naturally, after the anti-was up -- after the ente was upped by donald trump. the numbers out

cakmak andd by james cory johnson. both have been digging over the numbers.res are down 15% in after-hours trading. james comer, talk about the fact that they missed. is it daily active users they are worried about -- lack of monetization? james: i agree that the shares are plummeting. i disagree the headlines that this is a facebook affect. wehink 100% of the problems see it snapchat are self-inflicted. they're not doubling down on core areas of expertise that they could capitalize on, like the content side of the picture. they are not to getting users and potential new users on new product iterations. when you look at the metrics, i felt the user number was fine. not too far off what the street was looking for. the issue was on the monetization side because you see a much flatter trajectory than what would be expected from a company at this stage. that is why the red flags are starting to go up. caroline: looking at some of the headlines, snapped saying since the mac launch, stories are up 30%. the ceo and cofounder saying they are not planning to sell shar

. ♪ emily: that was bloomberg's cory johnson and bob o'donnell.up, a discussion on the company's latest earnings report. how they were able to turn the corner after the surprise ousting of their former ceo. all episodes of bloomberg technology are live streaming on twitter. this is bloomberg. ♪ emily: welcome back to the best of bloomberg technology. i'm emily chang. after the san francisco-based company posted its second highest quarterly revenue in history, seeing that spike 35% year-over-year to $139 million. this comes a year after the former ceo was ousted after the board found problems with lending practices and his lack of disclosure surrounding personal investment. scott sanborn joined us for an excuse of tv interview to discuss the future of the company. -- an exclusive interview to discuss the future of the company. >> it is about putting in the right controls and putting investors back in the platform. a critical piece is banks and we announced in q2, 40% of our money came from banks. emily: when it comes to the scandal, do you feel lik

in our exclusive interview, cory johnson caught up with steph of thend andre iguodala golden state warriorstarted by asking about steph curry's investment in pinterest. >> it is something i like to use. it is something my wife uses. for me, there is an opportunity there. a couple years back, i was waiting to get some skin in the game. it is not something i am involved in day to day. it is something i am involved in just to see the growth of the company and to have that feedback of seeing how the company is doing and keeping track on that. besides the company i started, that was one of my other early investments i can follow and grow with. it has been fun. i learned from that. hopefully, i can continue to grow my expertise in the investing game. you are all over the place with your investments. you have invested in shaving and grooming product companies. you have invested in a company that sounds like it is competing with bloomberg. >> it is a bond trading platform you can do over your phone. we you think about silicon valley, you think about disruption, efficiency. that is what it is. bond

our editor at large, cory johnson, caught up with steph curry of the golden state warriors who cohostednt. we started asking about steph curry's investment in pinterest. >> it is something i like to use. something that my wife uses. for me, there is an opportunity there. a couple years back, i was waiting to get some skin in the game. not something i am involved in day-to-day, but just to have that feedback of seeing how the company is doing and keeping track on that. so, that was the company i started looking at with my business partner. it has been fun learning from that, and hopefully i can continue to grow my expertise in the investment game. >> you are all over the place in the investment game. skincare products, shaving companies. and a bond trading? >> a bond trading platform and you can do it globally across your phone. when you think about tech and silicone family coming think and that istion, what it is. bond trading has not changed since the beginning of time. you think about the eddie murphy movie, "trading places," and that famous line. [laughter] something that came to me

emily: that was bloomberg's cory johnson and bob o'donnell.ing up, an interview with lending club's c.e.o. on the company's latest earnings report, how the lender was able to turn the corner after the surprise ousting of its former c.e.o. all episodes of bloomberg technology are live streaming on twitter. this is bloomberg. ♪ got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. find your awesome with the xfinity stream app. included with xfinity tv. more to stream to every screen. ♪ emily: welcome back to the "best of bloomberg technology." i'm emily chang. shares of lending club surged the most in two years this week. this came after the san francisco-based company posted its second highest quarterly revenue in history, seeing that revenue spike 35% year-over-year to $139 million. the improved figures come about one year after the former ceo was ousted after the board found problems with lending practices and his lack of

joining us to but this in the context is cory johnson. let's talk with how financially it is doing.t fit in with where it wants to be? debt inank has a lot of the next few years but the markets have been forgiving and their ability to refinance it is out there for them. always lookinge for ways to grow the business, change the business, and push forward. he has the 300 year plan for this business and a lot of ways that aren't. he is one of those executives that visited resident elect trump, he re-announced a fund that he has yet to raise. he was certainly thinking about this t-mobile deal. he really wants this thing to go forward. he has not given up in hopes of the regulatory change will come to pass. >> the city $5 billion financing attached to that, this is a mammoth potential. about softbank's strategy and push this forward. teaching hedge fund selection and investment in an nba program. us your perspective in who this man is and what strategy is for softbank. >> some people have a balanced concern with debt versus equity. up was born in japan to korea and perry ends the the son

cory johnson, bloomberg, new york. manus: james bevan is it still with us.o cory isn't it stating the obvious that face because the dominant position -- that facebook has the dominant position? the multiples are so high you must you have the growth coming through. who is really going to deliver cash flow and profit? i worry about facebook. manus: why? james: it is so typical of the tech sector to say, we are going to do something. just going to see what happens. no other business in the world would get by with that strategy. nervous. noters this week were accidentally poor. they are being squeezed, because the contact -- content players. i can be facetious about snap. we all can be. if you don't say, i believe in this story, you missed the train. james: i disagree. facebook went up and came down again. you have a flurry of excitement when people get on to the ipo. ok, what are, prices fair to participate in the long-term story? what do i have to sign up to? there are a lot of people who say that amazon is a busted flush. i look at it -- i look at amazon's ca

streaming services two streamingver services directly. .hey have a deal with bamtech let's bring in cory johnsonondering what that stake, that investment, in bamtech would mean. it is really interesting, a technical acquisition by bob iger and the board at disney. they wanted to own some assets contentps him gather and then disperse that content to all of the broadcast partners , and i think it is widely seen -- i think the nhl is using bam to broadcast their stuff, as well, so whether it is more consumer focused, like netflix, does not seem to be the case, but this is big technologically. bob iger willing to spend billions of dollars to buy lucasfilms -- billions of lucasfilms, to buy pixar, and the most recent acquisition like that was lucas, and the success with "star wars" has warned this out. there will also be owners, nhl and mlb. were talking earlier about the share price reaction, and there is the growth strategy for the company, but they still have a pretty egg and diverse core business. -- a pretty big and diverse core business. percentage of revenues, if you look at what he is the yen

let's bring in cory johnson, bloomberg editor at large. here. e per user is the only improvement here. cory: that is part of a trend, which says that they are turning on the advertising machine. the promise of the stock is we're going to add a lot more users. the promise of the ipo is we will have been spent lots of lots of time on the app. who can get enough of a dancing hotdog? i asked that question of all of you. they spent so much time on the app and a looking at the dancing hotdog. scarlet: we have seen a slowdown from the first earnings report that published last quarter, and it continues to slow to 173 million users. does that mean snap has peaks already? cory: hard to say. can they get gross margins improving? julia: looking at the hosting costs -- the cost are increasing and have increased quarter on quarter as well. the average revenues increasing, but the costs are, too. scarlet: james, when you listen to these results, how concerned are you about the level of spending?the last earnings report showed that the company was bogged down by

that was cory johnson with steph curry and andre iguodala of the golden state warriors.lding up a winning streak, but wall street is not impressed. from new york, this is bloomberg. ♪ scarlet: this is "bloomberg markets." i am scarlet fu. time for "options inside" with julie hyman. me -- we have been talking about this so much, kevin, whether it is dick's sporting goods, home depot, advance auto we are seeing a big downturn. what kind of options activity are you seeing some running of the selling in the stocks? afternoon, wethe saw nine times the amount of puts in xly, the consumer discretionary you also love home depot around 7%. you have comcast in there. these are great brand names that have managed themselves very well and have been leading in their respective spaces, but the market is nervous and, since disney is in there. disney will go hand-to-hand combat against netflix. you can see that most of the time, it impresses after earnings. now we are seeing it is still elevated compared to the overall market. just under 15 for the consumer discretionary space. normally

cory booker. >> jason johnson, zerlina maxwell howard dean, we'll do it again.vie that rolling stone calls a hard-core masterpiece. i will talk with the stars of "detroit," when we come back. probably isn't something you learned about in school, but the racially chargednent of 1967 still resonates today and depicted in the new film "detroit." more on the story in my conversation with the cast next. you're going to be hanging out in here. so if you need anything, text me. do you play? ♪ ♪ use the chase mobile app to send money in just a tap, to friends at more banks then ever before. you got next? chase. helping you master what's now and what's next. will people know it means they'll get the lowest price guaranteed on our rooms by booking direct on choicehotels.com? hey! badda book. badda boom! mr. badda book. badda boom! book now at choicehotels.com i'm the one clocking in... when you're clocking out. sensing your every move and automatically adjusting to help you stay effortlessly comfortable. there. i can even warm these to help you fall asleep faster. does yo

progressive leader in this era of trump be someone like cory booker or maybe his colleague in the senate cam alaharris. are back with me jason johnsong me now. all right. let's go around the horn. because what basically this week, guys, is on monday there was an article that went up the headline of which rising star has a burning land problem. her recent ano, i didn'ting is extremely telling. these doors will line or coffers and she'll have the next two years to craft a message -- she was very upset that she was getting all this treatment. then you have ryan cooper saying similar things saying why leftist don't trust kamala harris. look at that headline. three people of color, blee black democrats. kamala harris is black and asian american and saying they are the problem which set off a whole lot of things. you had a lot of people getting involved. he dpot attacked by several people and then brit any pack in this case came to his defense and said wait a minute, i was in meetings too with bernie sanlders and he had issues talking about race. so now you have the two sides back fighting again. what is happening here? >> well, i think t

cory gardner at his town hall meeting speaking truth to power. corey didn't give a damn. he spoke truth to power. we can talk about jeff flake, about lindsey graham, johnson mccain and ben sass. we're talking about seven republican senators right there that are saying enough. >> and i think corker is somebody who has had this presidency or had a shot at the inside administration. that's not true for a lot of these other moderates and persistent critics of the president. he i think has an understanding. he's traveled on the plane with trump. i think that says a lot. one thing that stood out to me is the framing of what was said. he said he the president doesn't understand what has made this country great. that strikes me as a very deep around important -- >> and he's had the time to look at this president firsthand. >> instability. think about that word. competence but stability also. he doesn't have the temperament and make-up for the job. >> that's an analysis, a concern. >> in the context of all that we're facing internationally, our allies are unsure of where we are in north korea, all of that plays in here. >> it seems to me senator corker is the perf