signature to hardly be recognisable it may well just be an instance of the british understatement david uber. fields' berlin office is a modern complex a comfortable atmosphere for his employees so here we are in your berlin office you've been here since one thousand nine hundred seven why were living. very simple we won the competition for the rich restoration reconstruction of the noise museum . this was. super complicated project both technically programatic clearly politically even socially. so it was a project which you could not do a distance i mean it's a project that we really had to be on the ground in the for the office begun. a small cabin on the site outside of the building so how has berlin developed architecturally things your first arrived. the biggest changes i would say in recent years since the. the increase of value of the city and the fact that the rest of the world has much to the surprise of the berliners have decided that you know britain is a place to be and people have moved here. in the beginning it was not a huge investment and i would say interesting the city chan

uber leaked. they have this is dueling david versus goliath narrative out. emily: what do you make of the communications of this? lyft announced that they filed to go public. we learned late right eight uber had filed to go public. we do not know precisely when. is that a good way for the news to break? bester has some of the people working for them in the

david: thank you for your reporting. in the meantime, more breaking news. uber is said to select morgan stanley to lead its ipo. re on that coming up. life from new york, this is bloomberg. ♪ -- live from new york, this is bloomberg. ♪ david: back to breaking news. uber is set to select morgan stanley to leave their ipo. you.let me start with is this a surprise? report that morgan stanley had worked with uber? right, morgan stanley has been helping uber from early on get its prospectus in order. ande reported last week others have reported, they filed confidentially for the ipo last week, setting up a race, if you will, between uber and lyft for getting out there, going public, grabbing the public's attention and getting the interest of big institutional investors to take interest in companies that have shown a lot of promise, but also carry some financial risk for an investor. david: it appears that morgan stanley has won the prize on uber. also, goldman will have a piece of the action, as it were. goldman has been working with uber some. >> they go way back. under gary cohn, under travis kalanick. there was a

tokyo, david ingles, bloomberg. emily: uber lost a bid to overturn a court ruling in london that allows drivers to get a minimum wage and holiday pay. challengessed uber's today. this is the third time they have lost in the lawsuit. according to a spokesperson, they will now take the case to a supreme court. and new details on anthony levandowski's new act. the guy at the center of the law street -- lawsuit between google and uber. he worked for googles waymo units before starting his own self driving company. that's got bought by uber and became a flash point in the trial. more and facebook, next. this is bloomberg. ♪ emily: this is "bloomberg technology." back to our top story -- facebook was sued by the district of columbia over a privacy breach in which personal information of millions of was transferred to a.mbridge analytic this came after a separate report from "the new york times," that the social media giant 11 more than 150 companies to access users' personal data -- more data than it had previously disclosed. suit fi

in tokyo, david ingles, bloomberg. emily: uber lost a bid to overturn a court ruling in london that allows drivers to get a minimum wage and holiday pay. the court of appeals dismissed uber's challenges today. this is the third time they have lost in the lawsuit. according to a spokesperson, the company will now take the case to the supreme court. and new details on anthony levandowski's new act. the guy at the center of the law suit between google and uber. he has launched a new startup. waymoked for google's unit before starting his own self driving company. that's got bought by uber and became a flash point in the trial. more on facebook, next. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which

uber leaked. they have this is dueling david versus goliath narrative out. ily: what do you make of the communications of this? lyft announced that they filed to go public. we learned late right eight uber had filed to go public. we do not know precisely when. is that a good way for the news to break? bester has some of the people working for them in the world, especially on the financial side. i do not think you file overnight, this is long in development. i will say from the communications standpoint, it does not like they are anticipating what is happening on friday night. everyone in communications knows that is the worst time to make news. but from a long-term perspective, it was a good idea to do it before the holidays because you get a natural break from the messaging and narrative around the ipo and a restart in january. emily: what is the goal? are they trying to go public on the same day or are they , literally trying to beat each other to market? eric: given the market conditions, they both want to go out before anything gets worse, so i think that

. >> ♪ ♪ david: starbucks announcing he'll partner up with uber eats to expand their delivery serviceby early spring. starbucks tested the program of deliver relationship over the sumner miami where apparently people are too busy getting a tan to walk a few blocks to get a cup. outside of miami will this work? >> i am old enough to remember the idea of corporate coffee shops was a bad idea. starbucks is already delivering in china. most of people hate waiting in line, right? >> 14,000 locations. the company ratcheted down its growth the aspects. ordering on uber eatser. >> one of the -- uber eats or one of the other' things. you may not want to spend $10 or $15 for a cup of joe. >> we have a bubble in delivery. 5 four starbucks within a mile and a half of my house. just go out and get. gee whiz. >> the problem with this story and the reason they are testing it in miami is it's warm there. you can probably keep the coffee hot in is no way in new york city even if the starbucks is across the streets and they are delivering it to you and it will be hot. david: i live in manhattan. we hav

david: and also kristina comeau woodcut dimensioned uber has a lot of baggage. of cities around the world that have this relationship with taxi is why you can say lyft has some opportunity because they can gain more market share potentially damp uber. susan mentioned the strength of some of these ipos is the averages 10 years and he used to be about six white nine years before they actually went public. you do have companies going public and hopefully more mature and stable. the concerning point is a lot of them are moving it up. a few years are now they're going public in 2019. they are rushing to get ahead of the curve in case things get worse in the near term and tightening. how is that going to get any better in 2019. david: any chance that they feel it are rushing they can put it off a little longer? >> i think that's the idea. they're trying to get the money while they can undo the growth while they can. this is a space that is 100% -- david: even in this market there is demand. playing a bigger game at this point they have their money locked in with travi

david kirkpatrick, jason, thank you both for joining us today. coming up, morgan stanley and goldman sachs war over ubere to an end. uber's 2019 public offerings next. this is bloomberg. ♪ emily: days after filing for an i.p.o., uber is now said to have selected morgan stanley to lead its public offering. the news marketing another big win for morgan stanley which is helping several tech companies to market and can expect to receive a large portion of the fees that come with the i.p.o. with the listing at $120 billion, uber's i.p.o. could be one of the largest of all time. in the meantime goldman sachs has also said to likely play a role in the company's public debut. why morgan stanley and not goldman sachs is the question? >> morgan has helped uber on a lot of its debt fundraising rounds. a lot has been controversial. that has helped develop the relationship. i think michael grimes has played a big role and established himself here and that's the bank that has been in the room writing the prospect us, not too surprising, then that they're the ones going to lead the offering. emily: when you published

uber, facebook, linkedin. these set of techniques, how you go to market, higher talent, what business models you create, these are the kind of things that allow silicon valley to do this. davidwhen is it stupid to blitz scale? reid: blitz scaling is rioritizing speed over efficiency in an environmental uncertainty. frequently and is driven by competition. in this hyper-connected world, competition comes from everywhere. the choice of, the first to scale is the business that wins. the first to scale is essentially the business that sets all the rules. then getting to scale matters. it is primarily driven by competition. david: when is it reckless? >> i think it is reckless when you don't have the competition, like you don't have the competitive lens. if you feel that a set of things about -- will i be able to pull this together in a macro business? if you don't have the ingredients to know how the mature business will look. for example, if you blitz scale a business where the unit economics won't work, you will reate this big crater. these are risks you might have to take, but you try not to take them if you don't need to. reid: when do you --david: when do you have to go bac

david: 120 billion dollars is the valuation here for uber, it is astounding.saction still, how that valuation has gone up from the time it got its whatever round of financing and now we are at 120 billion. rishaad: on a company that is losing $3 billion worth of revenue they lose a billion dollars. these car sharing companies have not come to the market yet. looking at grab in this part of world, lyft in the united states. david: grab essentially combined. rishaad: that will be interesting to see if two can survive there. david: it really is two good enough? or is the pie only big enough for one? getting a final pricing on the softbank ipo. the preliminary pricing. a lot more retail for that one. rishaad: it was such an attractive deal. also a dividend that would be very promising as well. this is what we have, oil markets feeling it. of opec ina deal out the end after thursday's session and he and. this off by 2/10 of 1%. what does it mean for these oil majors in china? we of the usual suspects on the way out because of brent. that is seeing a price of one qu

airbnb, uber, facebook, linkedin, and this set of techniques about how you go to markets, hire talent, scale the company, what business models you create, and allow silicon valley to do this. davidwhen is it stupid to blitzscale? reid: it is prioritizing speed over efficiency. in an environment of uncertainty. it is frequently driven by competition. in this hyper connected world, competition comes from everywhere in this hyper connected world. actually, the first to scale is the business that wins. the first to scale is the business that sets all the rules. so it is primarily driven by competition. david: when is it reckless to blitzscale? reid: when you don't have the competitive lens. if you feel the set of things, will i be able to pull this together in a macro business? if you don't have the ingredients to think about how will the mature business look like? it's not that you have it all figured out, but if you scale of business where that unit economics won't work and you can't get them to work, you will create this big crater. those may be risks you will take, but you try not to take them unless you need to. david: in "blitzscaling," when do you say, ok, you worry about the

david: there could be serious consequences for uber if it decides to go public.o airs tonight at 9:00 eastern. roll tape. >> are they even profitable? at $120 billion market valuation, i would expect some profit. >> what has been purported is they are losing a billion dollars a quarter but a lot of that is expanding into new markets. one of the most important things is after they go ipo, what happens in the two or three quarters afterwards because we have seen a lot of companies, i remember when snap went public, and the first or second quarter was a disappointment. the stock collapsed. it's very hard to come back from that. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken, how may i help you? hi, i'm calling about kohler's walk-in bath. excellen[ pop ] happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra wide opening and a low step-in at three inches. which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat

at it today, david, the rating agencies -- about the lowest you can be rated before you go bankrupt and get a d is a triple c. well, let's think of three firms that are in the news today. ubere company is worth tens of billions of dollars. it doesn't have a lot of debt relative to its equity. well, it is rated triple c. you are talking about tesla. doesn't have a lot of debt relative to its equity. it is rated triple c. and or you can go to wework. they are rated triple c. so what i discovered is that quite often the future in credit is rated low even though it is the future. and the real risk lies often in companies we think of as establishment or have paid dividends for a long time. david: all right, so you are doing reasonably well, living in philadelphia, and you go up to new york, commuting back and forth? michael: the person who was the chairman got into a serious accident, so they asked me to go to new york and set up the bond department in new york for the firm. so i had my 2.5 hour commute each way. david: and you are doing that, at what age were you? michael: 24. david: you are 24 and they are having you set up operations to lead the effort in new york? michael: y

uber. everything the startup has. bloomberg tech livestreaming on twitter. follow tic toc on twitter. i'm emily chang. have a wonderful weekend, everybody. this is bloomberg. ♪ david head of the imf, do people recognize you? christine: it is a lot of ego food, which i take and store for the hard days. david: how did you get to be the head of the entire firm? christine: it is often in those situations that a woman appears. david: so with synchronized swimming, you became a member of the national team of france. christine: yes, but i did european championship and many international events. david: did you experience a lot d

david: >> this is your bloomberg business flash. is tree of is -- altria making an investment in juul, making it the second most viable privately held company after ubershares of airbus are following after the u.s. justice department launched an investigation into bribery allegations, being conducted in parallel with british and french investigation. airbus could face fines totaling several billion dollars. the maker of budweiser is getting into the marijuana industry. ab inbev agreed to a partnership intotilray to look non-alcoholic, cannabis-infused beverages. that is your bloomberg business flash. david: we have three stories we are following. markets show disappointment in the fed tightening policy. brian moynihan on how geopolitics may be holding us back. the cohost of "what did you miss" and catherine mann. i'm sure you're watching the fed. explain what happened. >> the fed did with the markets , the marketm to do expectation was to increase interest rates. whether that was the right decision, that is what the market expected. there were some crosscurrents in the data that would have allowed the fed to allow them to pause. aat was attention betw

david: you don't want to go out with an ipo when there is a lot of volatility in equity markets. they moved it up. it is a hot area. uber is expected to follow. lyft goes, uber is not far behind. alix: it is interesting, particularly when it is an ugly tape. 2%, down byoff by 44 points. the initial fall was enough to set off cme circuit breakers. go-two-safetyff, trade. high-yielding currencies getting pummeled today. what is interesting is the lack of buying in the treasury market. in the had a big bid last few days and are below the 3% level, but yields are only down by two basis points. brent completely hammered. unbelievable movement and headline soon from opec. david: it will be interesting to see what happens over the next couple hours. alix: and how that volatility will spread to other asset classes. andd: 8:30 to trade balance job numbers, followed by durable goods numbers. this morning, arguments in the justice department request to reinstate its anti-trust challenge. mary barra continues her meetings on capitol hill to explain her decision to close plants and lay off workers, and whether gm will add some other

uber and lyft? robert: i think you are going to see a handful of very high quality companies finally come to market in 2019 that will be significant market events. davidting, what does that tell you about capital investing, about productivity, about growth and the underlying fundamentals, if there is that kind of capital formation? generally, what we talk about in terms of the long-term neutral rate of growth in the u.s., we look at two factors. one is productivity growth and the other is labor market growth. growth where labor force is generally going, 0.5% over the long-term. we have an aging population in the u.s. our demographics are working against us. productivity growth is more questionable. we have been pending around 1.5%. the have's if we can get that higher in terms of perhaps new , morel formation productivity from technology firms and some of the automation, robotics -- that trend growth goes from about 2% to maybe a little bit over 2%. i've -- i think what we are seeing in forecasts is markets are projecting u.s. economic growth to fall back toward trend , 2020 and beyond. but there are factors that could impact that. rob, you talk to cl

uber drivers, marking the first time they have imposed salary rules on the company. required to pay above the $15 minimum the city requires all employers to offer by the end of next year. davidlargest meat producer has named a new ceo. batista.over from josÉ he stepped in last year after the corruption scandal. the stock has erased the losses that followed. yvonne: apple is experimenting with marketing strategies, such as discount promotions and buybacks. shares tumbled in new york after hsbc downgraded the stock go missing iphone growth is over for now. analysts told bloomberg television earlier than apple is now facing the reality of market saturation. the stock doesn't look particularly expensive. we don't see any short-term catalyst. we are looking at a deceleration of growth. you're looking at a company that was growing revenues in the high teens, low 20's. that will go to mid single digits in the short-term. that is driven by the core, hardware, essentially the iphone , and we see no more unit growth for the iphone. course and theof pessimism making itself felt in the supply chain. sonny optical 6.5% down. weakness there. thatis despite the story daimlerchrysler is con