emily: jim coulter, cofounder and ceo of tpg, it has been great to have you. hanks, emily. ♪ ♪ then moved onto microsoft and sparked a lawsuit when he left to run google in china. that was before the search engine left the country. facebook and twitter were blocked by the chinese government. $1 billion fund to invest in the next tech generation. you came to the u.s.

[laughter] scarlet: tpg co-ceo and cofounder jim coulter, speaking with erik schatzker in davos. for more on that theme, let's bring on jason kelly, bloomberg executive editor. he has covered this for quite some time. holderu hear about jim talking about this, when you hear about other people in that industry talking at davos, were there any themes that jumped out at you that the industry is struggling with right now? jason: i think what they are struggling with his finding deals in a market that seems to go up and up and up and up. obviously, private equity is about buying, but also selling. they need to get in at a point when they feel there is some value that only they see a way to extract, or even just secular .r company specific growth that seems to be harder and harder to come by. you see a lot of private equity firms selling rather than buying right now, given the valuations worth. scarlet: with eric started the conversation and said the mood seems euphoric, would you agree with that? that is not good news. jason: not good news for private equity. when you think about the p

jim coulter along with david bonderman got their start by investing in a bankrupt continental airlines tpg has its hands in everything from j.crew to movie studios, health care in china, and cell towers in southeast asia, and two of the most prominent tech unicorns -- uber and airbnb. as these companies take longer to go public, tpg's investment strategy is undergoing a new evolution in the era of private markets. joining me today on bloomberg

private equity tighten jim coulter of tpg explains why he is moving away from general-purpose funds. going public again, years after going private. and farmer in focus. health-care stocks touching a record after this drugmaker jaw-dropping forecast. reports from the industry. u.s. take the pulse with markets right now. abigail doolittle has been watching the resumption of the rally. abigail: the pulse is bullish. we have record highs and session highs. the nasdaq is

jim coulter is the co-ceo and founding partner we're thrilled to see him again.aw you was davos in the dessert th this time we're doing it in the snow what is your sense of feeling? >> last year we were talking about populism we were talking about refugees this year it's a lot about open versus closed on the political side the twin towers of ai and block chain seem to be dominating the business discussion. i think there's an underlying tone that i call tech lash which is interesting to me. >> the backlash against tech >> yeah. i think for a long time when we met here we talked about technology enabling things and there's increasingly questions about what it might affect e-commerce is great but what about the 3.5 million people who are checkout people, the 4 million drivers that might be displaced. that's now rolling over into the political world as we're talking about jobs and change. this issue of technology being good but how will society put the seatbelt on it is fascinating. >> is that changing the way you think about valuations of companies. you own uber and