sameer: we would agree with that.ly, whether it is trade or some of the economic slowdown, it is much more concentrated inside the u.s. than in developed markets. the dollar is doing well. i'm so glad you mentioned that. 9 and right around $9 change. i think that's a big thing still playing out, and again, it comes back to things like, we like cash, and give us >> ability just in case there is a stumble or two, just like last year. alix: sameer samana will be sticking with me. coming up, it is the race of two ipos. it is the next one billion-dollar unicorn to go public. we will talk with phil haslett about peloton ipo, which will come out later today on the nasdaq. this is bloomberg. ♪ alix: peloton reese's onto the nasdaq, pricing shares at the upper end of its range -- peloton races onto the nasdaq, pricing shares at the upper end of its range. phil haslett, equity zen founder and chief revenue officer, is here. fargo samana of wells also with us. what do you make? pricing at the top end of its range. phil: i think