taylor: mr. lemonis! lemonis: nice to meet you. taylor: oh! lemonis: marcus, marcus. taylor: mr.is, oh, my god! lemonis: so what are you? you work in... what is your name? taylor: taylor barton. lemonis: nice to meet you, my man. this place is busy. taylor: well, it's saturday. that's what we do. lemonis: yeah. taylor: we're the birthday party capital of the world. lemonis: this feels like it. how long has this business been here? taylor: it'll be 27 years in september. my dad took over about a year and a half ago. he bought the business from his ex-partner. i think he paid, like, $2 million for the business, and to me, that is not good business. i would have never made that deal. lemonis: do you report to him, or does he report to you? taylor: i like to think he reports to me, but i've never had any formal training. lemonis: is your dad here? taylor: he is. lemonis: let's meet him. jerry: hey! lemonis: how are you? i'm marcus. jerry: who is this guy? lemonis: nice to meet you, sir. jerry: boy, i thought you were a hugger, man. lemonis: okay. i am a hugger. matisun: yeah. i know.

this is my friend, taylor. taylor: taylor barton. good to see you. kyle: what's up, man? you? matisun: you guys know each other, right? kyle: we do know each other. lemonis: so they own las vegas speedway, the little karting place, right? kyle: yeah, the mini gran prix. lemonis: you know where it's at? kyle: i know where it's at. lemonis: okay. kyle: i spent many a birthdays there. lemonis: not only is kyle a racer, he's also a team owner. kyle: i mean, you guys know about how hard it is to be an owner, and the driver side is more decisions on the fly. like, you don't even think about it, where on the business side, you've got to trust in those that you put around you and coach them to be able to go out there and do their job. see, i'm... lemonis: he's a little grizzly on people. kyle: i'm probably worse than he is. lemonis: you're better. you're better. these guys who are really aggressive champions have one principle that they live and die by, and that's, "be good to people," and i wanted taylor to understand that. kyle: all right. lemonis: we'll see you, brother. matis

taylor: i am taylor riggs in san francisco and it is time to go over the top stories the week.e top alphabet technologies founder sergey and the other founder step down. here to discuss, we are joined by bluebirds sophie alexander as well as bloomberg technology senior executive editor brad stone. every analyst on the street said this is a great thing, they are consolidating. we now have seen our pichai, clear man in charge. try -- sundar pichai. larry and sergey have been receding from public view. rollback ofesent a the alphabet structure, putting one person in charge. i think the streets reacting the way they did because they think to dart will bring some discipline to those far off debts. most of them pretty well but not a lot to show for the others. as we transition from the business back to the iunder, one said frankly if were worth $50 billion, i, too would just take a leave and just had an island somewhere. you have been following them. what is their story? >> actually $60 billion. and they have seen a pay bump. in the past few days after the news, shares rose 3%. that

♪ taylor: i am taylor riggs in san francisco, in for emily chang. this is "bloomberg technology."oming up in the next hour, clouds gather. the ftc is widening its investigation of amazon to include its massive cloud business. we will have details. plus, the stance from france, more on emmanuel macron's digital tax when we talk to the country's minister of digital affairs. tech giant huawei sues the fcc for greater access, the latest attempt to fight sanctions, but does the case have legs? our top story. crackdownovernment's on big tech and back to amazon. bloomberg has learned investigators are looking into its massive cloud computing business. sources say the agency has been asking software companies about practices around amazon web services. the unit is one of the backbones of the internet and has a cloud computing market share of more than 50%. its next biggest rival, microsoft, is 16%. joining us to discuss is an analyst from rbc capital markets, and in washington, the person who helped break the story. are you surprised regulators seem to be looking at almost every portion o

♪ taylor: i'm taylor riggs in for emily chang and this is the "best of bloomberg technology" where wering you all of our best interviews from the week. up next, silicon valley is listening to your most intimate moments. we discuss the smart speaker craze and how vulnerable users are. facebook and google drop out of the top 10 places to work list but docusign makes the glassdoor list. we talk to the ceo about what makes the company unique. a self-driving a semi makes it's first run. silicon valley is listening to your most intimate moments, the first of a bloomberg piece of how the craze left users vulnerable. it was one of the most read stories on wednesday. i spoke to journalists about the story, including the devices and use of contractors to transcribe intimate conversations. we spoke to guests in san francisco and new york. >> we spoke to dozens of transcribers from everywhere from ireland to india and they had ethical quandaries with this service. they were eavesdropping on a lot of customers to improve the systems speech recognition capabilities. the fascinating thing was that p

taylor: i'm taylor riggs in for emily chang, and this is the "best of bloomberg technology." where we bring you all of our top interviews from this week. coming up, dramatic exit. expedia joins the list of companies losing executives. its ceo and cfo are out, following google's larry page and sergei brin announcing they are leaving. the tech sector saying a lot of goodbyes. clouds gather. sources say the ftc is widening its investigation of amazon to include its massive cloud business. and u.s. senator marsha blackburn on the social media app tiktok. we will hear from her after they say they have made changes. but we begin with major changes happening in alphabet. larry page and sergey brin announced they are stepping down from the tech giant. the google ceo will now be the ceo of both google and alphabet. page and brin will remain active as cofounders and remain on the board. i spoke to guests on tuesday. >> it was a pretty big surprise. there had been questions about how much longer sundar might want to be ceo of google. those questions have been a bubbling up a little bit.

taylor: i'm taylor riggs in san francisco. this is "bloomberg technology." coming up in the next hour -- stock record. has less shares touch $420, the gold price -- goal price elon musk outlined. how much higher can it go? plus, automated hacking. risks will morph into new threats. is your information safe? a ceo of ak to security firm. and lyft, peloton, all went public. we will have a recap of it all. tesla shares said a new record high, $420. elon musk claimed tesla would go private last year. earlier today, he tweeted the stock price is so high, lol. our bloomberg reporter. what is driving it for tesla this time around? allrter: the momentum is about china, taylor. one $.4t, tesla group billion from financing and local banks and much welcome cash injection. that built momentum from last week, where in november, new vehicle registrations for tesla in china hit a five month. you'll remember those vehicles are subject to a 25% import duty. if tesla can get that shanghai run up and running, they can offer vehicles that are more competitive priced, and the un

taylor: thanks. our continued look -- i have something in my throat -- the continued look at the u.s. versus tictok. under pressure over officials that are worried about that practices. executives have canceled a number of scheduled meetings with u.s. senator's set to take place in washington this week. we want to bring in kurt wagner who will save me from choking on myself. canceled, rescheduled, delays. what is going on? kurt: they will be rescheduled in the new year. part of the issue is you may have heard other things going on in washington, d.c. these days with the potential impeachment of the u.s. president. as a result, the feeling from the tiktoc side was there is a lot of things going on. the senators are curious why they pulled the plug but we should be hearing about these again in 2020. paul: when those meetings take place, what kind of questions will the senators want answered? kurt: all of the biggest questions have to do with user privacy and data storage. it is owned by a massive chine

♪ taylor: i am taylor riggs in san francisco. is "bloomberg technology."obs, we find out where tech jobs fit into that. suing the fcc, huawei. the first ever safety report detailing sexual assaults in the news for uber. our top story, a big jobs day. the u.s. economy added 266,000 jobs. according to one source, tech grew. joining us now is our guest. adam, such a big day. where does tech fit in for you today? >> it is the sector that continues to grow and out case overall job growth. what ever stories, individual thisnies and concerns, sector is adding jobs more quickly than the rest of the economy. islor: wage pressure something we have been talking about. we are seeing wage growth as well. our tech jobs following that? >> wage growth is broad-based. ,ou see it across industries and it has been stronger for low labord workers lately, as markets lacked gets lower and lower. those are the worker starting to benefit now. taylor: as you look across the tech sector, what industries and sectors are winning? good,nformation is doing , tech innications general, d

♪ ♪ taylor: i'm taylor riggs in san francisco, in for emily chang. this is "bloomberg technology."ing up in the next hour -- stock record. tesla shares touched $420, the goal price elon musk outlined this past summer. he joked about the milestone on twitter. how much higher can it go? plus, automated hacking. in 2020, online risks will morph into new threats. is your information safe? we will talk to the ceo of cyber security firm proofpoint. and 2019 ushered in some of the biggest tech ipos ever, as pinterest, peloton, uber, and lyft all went public. wework, however, stumbled to debut. we will have a recap of it all. first, to our top story. tesla shares set a new record high and reached that infamous $420 mark. you will remember $420 was the price ceo elon musk claimed tesla would go private at last year. earlier today, musk tweeted, "woah, the stock price is so high. lol." joining us to discuss is our bloomberg news reporter, ed ludlow. another day, another record high. what is driving it for tesla this time around? reporter: the momentum is all about china, taylor. overnight, t

taylor: i wonder.ve been showing your valuation, getting a newly $2.6 billion valuation over the summer. i ask a lot of the unicorns that come here if it is helpful or hurtful, given the extra scrutiny that comes with now being valued at more than $1 billion. henrique: i think for us, as a financial services company, it is definitely more on the helpful side. brex is a fairly capital-intensive business because we are lending money. in order to lend money, we need money. in order to establish credibility, the valuation definitely helps. more than that, being able to raise a large amount of money is what is enabling us to actually go and disrupt this sector, financial services, which is full of very big and established banks. it's very hard to do that without the money. taylor: that was the brex ceo. robots have replaced thousands of routine jobs on wall street and now they are coming for the higher ups. that's the contention of a cornell university professor and the former head of machine learning at aq

♪ taylor: i am taylor riggs in san francisco and this is "bloomberg technology."oming up a major shakeup at the top of alphabet. google cofounders larry page and sergey brin are stepping down. but they won't have to search long for a new ceo. we will have the latest. plus, dorsey on the move. the twitter ceo is set to spend half the year in africa. what this means for his role at the social network as well as square. plus, we speak to the u.s. deputy assistant secretary of state for cyber munication's and communication policy for an insiders view of the u.s. versus huawei. first, major changes happening at alphabet. larry page and sergey brin are both said to be stepping down with google ceo sundar pichai set to take over that position. sundar pichai will be the ceo of google and alphabet. page and brin will remain on the board. how big of a surprise was this? >> a pretty big surprise. there were questions of how much longer sundar might want to be ceo of google. google is under a massive amount of scrutiny. he has a lot of things to juggle. there have been intern

♪ taylor: i'm taylor riggs in for emily chang and this is the "best of bloomberg: technology."here we bring you all of our top interviews from this week in tech. coming up, tesla's turnaround. at least one analyst says it looks incredible. we hear about a guest who raised his price target to 370. plus, 2020 picks. covering all of tech in the new year's with one of wall street's most watched analysts. why they like facebook and apple. tech regulation, legal and legislative hurdles continue for technology, especially overseas apps. we hear from senator marsha blackburn and how much more needs to be done. we begin with tesla. stock has been on a runaway rally. we saw shares of breach the ceos goal $420 -- of $420. an analyst joined meet to to discuss whether the turnaround is working. >> if you look back at the last six months, it has been massively impressive what musk has been able to do in terms of turning this around from a d perspective. -- 600. you could start to see the stock go much higher. bull case, $580 to $600. a lot of that really rests on china. taylor: dan, i've spo

♪ taylor: i am taylor riggs in san francisco in for emily chang and this is "bloomberg technology."oming up in the next hour, clicks before q. black friday sales breaking an online record. how the holiday weekend spending will turn out following cyber monday. plus crypto crackdown. , china continues its assault on crypto exchanges, and currencies are feeling the pressure. we will have the numbers. and our extended conversation , with the ceo of qualcomm. why he thinks 5g will change the way we do business forever. it is starting to feel like the holiday season. americans got out their wallets over the holiday weekend, spending more than $70 billion on shopping over that four-day period. amazon is gearing up for the heavy spending month by heading back to basics, testing cheap warehouses. that will let merchants to store resources near amazon delivery locations. it will let merchants avoid storing their goods in amazon's warehouse base where they pay premium prices. to discuss, we are joined by y'somberg technolog spencer. what do we know about the new service called storage and repl

taylor: i'm taylor riggs in san francisco. this is "bloomberg tech." hour, up in the next chipmaker rally. micron sockets the highest price in 18 months after the company reports earnings. we will break down the numbers. plus, a culture of recklessness. new allegations of a lack of regard for consequences, harassment, and more at the softbank vision fund. what is going on? of new reports. and 2019, the year in review. ,he plans for cryptocurrency facebook felted all. what is the strategy going into 2020? first and the top story, shares of micron up after they reported better-than-expected top and bottom line numbers for their fiscal first-quarter and the forecast strong numbers for the current quarter. gross margin is something i have been eyeballing all day. they are coming in more than 27%. at the ludlow -- ed ludlow is here to break down the numbers. what is your key takeaway from this report? reporter: with these numbers, that is the optimism across wall street. the memory chip market will rebound probably at some point in the second half here. whe

taylor: from san francisco for our viewers worldwide, i'm taylor riggs. bloomberg "real yield" starts now. ♪ taylor: coming up, yields on the u.s. 10 years slipping back below 1.90 heading into the final week of the year as investors place their bets on rates in 2020. signs of optimism. it may not signal the all clear just yet. what it means for inflation and growth expectations in the new year. and wrapping of the year of outperformance in credit. corporate dons on track for the -- corporate bonds on track for the best returns in a decade, but how long can the rally continue? we begin with the big issue, markets betting low rates are here to stay in 2020. >> it is hard to see the yield breakout from here. >> bond yields moving sideways. >> we can't generate any inflation right now. >> still attractive but certainly not breaking out. >> 1.20 by the end of the year. >> if we get to 1.2% on the 10 year, we are looking at a global recession. >> we are going to test 1%. >> a lot of things have to be going incredibly wrong to get to 1%. >> unless the market be

♪ taylor: i am am taylor riggs in san francisco and this is "bloomberg technology."oming up, opening statements. lawyers for t-mobile and sprint off to court monday to fend an antitrust challenge. we will have details. plus, cleanup crew. goldman sachs arranging a massive line of credit to help revive one of softbank's biggest bets, wework. we will have the latest. the tv industry suffers it's steepest drop in ad sales since 2009. what that means for streaming. first, our top story, the challenge to t-mobile's sprint merger took shape in a courtroom on monday. the combination of 13 states and the district of columbia suing to stop the deal. with the latest, jennifer was in the courtroom. day one, what is your big take away? jennifer: it started with a surprise because the judge said, we are not going to have opening statements. i read enough in the pretrial memoranda, let's go straight to the witnesses. that was a big surprise, particularly for the lawyers who spent a lot of time preparing those. the judge is really intent on getting this done in two weeks. this was

♪ taylor: i am taylor riggs in for emily chang.his is the best of bloomberg technology where we bring you all of our top interviews from this week in tech. in round stock hits the highest in 12 months after the company reports earnings. we will break down the numbers of semi conductor optimism. plus holiday gifts on the brain, but how are we getting to grandma's house? we explore amazon's delivery system as it ditches longtime logistics partners ups and fedex. -- tech out how big cap companies apple and facebook fared in 2019 and how each is set up for the new year. a look at tech in the markets most notably semiconductors, taking a look at the stock index, we see that chipmakers a bottomed out nearly a year ago and have been on a rally since then. chipmaker micron adding to that -- they reported first-quarter earnings this week. have a strong outlook between four and a half and $4.8 million in revenue. shortly after the company reported i got insight from the whorities and -- analyst joined me on the phone. >> they are seeing tigh

♪ taylor: i am taylor riggs in san francisco and this is "bloomberg ."nology lawyers for t-mobile and sprint had court wednesday. cleanup crew. goldman sachs arranging a massive line of credit to help with one of softbank vs biggest wework.- biggest bets, a drop in ad sales and what that means for streaming. first, our top story, the challenge to t-mobile's sprint merger in a courtroom on monday. states and the district of columbia suing to stop the deal. but the latest, jennifer read, who was in the courtroom. takeaway --what is your big take away? jennifer: it started with a surprise because the judge said, we are not going to have opening statements. i read to the pretrial memoranda , let's go straight to the witnesses. the judges really intent on getting this done in two weeks. this was part of that, getting things moving quickly. we cut right into the first witness, basically got through 2.5 for the day. overall, the witnesses were pretty good. documents some bad introduced with the first witness. ands only two witnesses part of the third but overal

♪ taylor: i'm taylor riggs in for emily chang and this is the "best of bloomberg technology."here we bring you all of our top interviews from the week in tech. coming up london's transit authority refuses to renew uber's license. they vow to appeal. margrethe vestager tells her they will push for a global tax. shares of alibaba the trading in hong kong, ending the first trading day above listing price. our top story, uber and its uncertain future in london. the city's transit authority has refused to grant them a license, saying uber failed to adequately verify driver identities. the ceo swiftly responded, tweeting that the decision was quote wrong. he had said safety is the company's priority and will appeal the ruling. london's mayor says much more needs to be done with regards to safety. >> i am keen for london to be a hotbed of innovation but you have got to abide by the rules. what is clear is uber's policy and practices mean passenger safety is being compromised. emily: i caught up with a guest, asking him if uber or the technology itself allowed drivers not to be verifi

♪ taylor: i'm taylor riggs in for emily chang and this is the "best of bloomberg technology" where wering you all of our best interviews from the week. up next, silicon valley is listening to your most intimate moments. smart speaker craze and how vulnerable users are. google drop out of the top 10 places to work list but doc you sign makes the docusign makes -- the glassdoor list. we talk to the ceo about what makes the company unique. a self driving a semi exits it's first- makes run. silicon valley is listening to your most intimate moments, the first of a bloomberg piece of how the craze left users vulnerable. it was one of the most read stories on wednesday. i spoke to journalists about the story, including the devices and use of contractors to transcribe intimate conversations. we spoke to guests in san francisco and new york. >> we spoke to dozens of transcribers from everywhere from ireland to india and they had ethical quandaries with this service. they were eavesdropping on a lot of customers to improve the systems speech recognition capabilities. thing was that profound dis

taylor: i'm taylor riggs in san francisco. in for emily chang. this is "bloomberg technology." coming up, here is an earful. listening to your most intimate moments. we will talk about the smart speaker praised and how comfortable consumers are with the conversations being transcribed. plus, facebook and google drop out of their canvas -- their 10 best places to work with. we talked to the ceo about what makes their company ceo. -- their company so unit. -- so unique. silicon valley is listening to your most intimate moments. it is the focus of bloomberg businessweek's in-depth piece on how the smart speaker praise users vulnerable to the conversations being transcribed. here with the story including the devices and use of contractors to transcribe those attimate conversations is m in seattle, sarah from san francisco, and austin from new york. let me start with you come austin. the management -- with you, austin. >> we spoke to dozens of transcribers and contractors in the stories. everywhere from ireland to india. they really had ethical quandaries with the service, they were

>> i am taylor riggs. this is the best of bloomberg technology where we bring you all of our top interviews from this week in tech. coming up, silicon valley is listening to your most intimate moments. smartl discuss at the speaker craze and how vulnerable users are in their conversations being transcribed. plus, best in tech. facebook and google drop out of the top 10 places to work. docusign makes the glass door lift. we will talk to the doc you sign ceo about what makes the company so unique. automation, transportation, the self driving semi makes its -- valley islicon listening to your most intimate moments. it is the focus of a bloomberg businessweek in-depth piece about how the smart speaker left users vulnerable to their conversations being transcribed. it was one of their most read stories on the terminal wednesday. i spoke to bloomberg journalists about the story, including the devices, and use of contractors to transcribe intimate conversations. let's hear from austin carr in new york. >> we spok

♪ taylor: i'm taylor riggs in san francisco for emily chang, and this is "bloomberg technology."oming up in the next hour, goldman to the rescue. wework gets financing. we will have the latest on the credit lifeline. plus, proposed tariffs pushes apple to the forefront of the u.s.-china trade standoff in 2019. the relationship with president trump may have helped the company avoid a steep levy. we will get thoughts from gene munster. hospitality disruptor. short-term holds that combine elements of hotels and apartments. we will hear from the ceo. but first to our top story. record highs on tuesday on averages, but something interesting happened during the day. the s&p 500 tech index closed down slightly. is this a sign of trouble to come? joining us to talk about what this means is bloomberg's abigail doolittle. i want to take a look at a chart i'm showing in my terminal which highlights some of the profit taking. i am wondering if that is what happened today given the overbought levels on the tech sector. abigail: i think you are dead on with that, taylor. that is exact a what t

taylor: thank you.printup, t-mobile and will face fewer opponents in their antitrust file but that is coming with a cost. this is bloomberg. ♪ agreed three states have to keep their doors open for the merger of t-mobile and sprint in exchange for better deals. t-mobile has brokered settlements with texas, nevada, and colorado. the case is scheduled to go to trial on summer nights in a manhattan federal court. -- on december 9 in a manhattan federal court. what do we know about the two france's -- about the differences between these states and what they negotiated? >> it is actually now four states. mississippi is in that group, too. i think it is not surprising, to be honest, that some states have settled with the companies. i think initially, when the lawsuit was filed in june, you may have had different reasons. some may have been just concern that the negotiated remedies beyond what they negotiated with the doj and fcc, to be sure that some of those promises about 5g buildout would go to their state.

♪ taylor: i'm taylor riggs chang and this is "bloomberg technology."oming up in the next hour, secret projects. apple is said to have a team working on satellite technology. the initiative will allow it to bypass wireless networks. we will have the latest. plus, a pay raise. the head of google takes the reins of apple bet. alphabet. we will have details. wework went from one of the most anticipated ipo's to a floundering co-working company just trying to survive. we will look at what it faces in the new year. but first, our top story. bloomberg was the first to report the iphone maker has a secret team working on a satellite technology, striving to find new ways to beam data directly to its devices. this is all according to people familiar with the matter. the company has about a dozen engineers from the aerospace satellite, and antenna design industries working on the project with the goal of deploying their results within five years. for more, i want to bring in bloomberg technology's mark gurman. what do we know so far? >> it is top-secret. it is op

♪ taylor: i'm taylor riggs in san francisco, in for emily chang. this is "bloomberg technology."oming up in the next hour, here is an earful -- silicon valley is listening to your most intimate moments. we will discuss the smart speaker craze and how vulnerable users are to the conversations being transcribed. plus, the best in tech -- facebook and google drop out of their top 10 best places to work list, but docusign makes the glassdoor list. we talk to the ceo about what makes that company so unique. and a scathing report -- prominent shortseller andrew left of citron slaps a $5 price target on peloton. we'll hear from left. but first, to our top story. silicon valley is listening to your most intimate moments. it is the focus of bloomberg businessweek's in-depth piece on how the smart speaker craze left users vulnerable to their conversations being transcribed. it was one of the most read stories on the terminal on wednesday. and here with the story, including the devices and use of contractors to transcribe those intimate conversations, is matt in seattle, sarah from san fran

taylor: so if the u.s.ead with some of the oecd proposals and instead retaliated in taxes onllion french products, are you prepared, are those countries prepared for these retaliatory tariffs? cedric: i think that would not be a good solution for the u.s. or for france or the companies at stake. europe has always said that it solution.r the oecd europe would take the initiative at its own level. if there is some retaliation from the u.s., europe has said it would be backing up france. we still hope there is some room for discussion and that we can find a solution. he said that europe has been backing up france and wants a global solution, but friendly, you guys are not the only ones going through with the unilateral tax. cedric: other countries have been [indiscernible] all right -- austria has already passed a law. it wants attacks on digital companies. -- a tax on digital companies and is favoring the oecd solution. we need to create that level , the best is on an international level. taylor: you really f

♪ taylor: i am taylor riggs in for emily chang and this is the "best of bloomberg technology."e bring you all of our top interviews from this week. chipmaker -- hits the highest price in 18 months after the company reports earnings. we will break down the numbers as conductor optimism swells. holiday gifts on the brain, but how are they getting to grandma's house? we explore amazon's delivery system as it ditches ups and fedex. the year that was. we check out how big tech companies apple and facebook fared insystem as it 2019 and hs set up for the new year. tech in with a look at the markets, most notably, semi conductors. we see that chipmakers bottomed out nearly a year ago and have been on a riproaring rally since then. micron adding to that sentiment, as the company reported first-quarter earnings wednesday. micron impressed wall street with a strong outlook of between 4.5-4.8 billion dollars in revenue. shortly after the company reported, i got insight from wedbush securities analyst matt bryson, who joined me on the phone after the analyst call. seen tightness in certain

♪ taylor: i am taylor riggs in san francisco in for emily chang, and this is "bloomberg technology.ech domination another runaway year for tech companies. plus, bearish ipo. 2020 brings the promise of debuts from companies like ir, and strength. keys to the alfa bank castle. chime is now in charge. tech shakeups of the year. abigail doolittle is in new york to break down the top market action of 2019. it has been a massive record run that i continue to be astounded by. abigail: it has been a spectacular year for stocks in the u.s., really around the world. sector-wise, when a difference a year makes. sector-wise, when we think about a year ago, all 11 sectors lower, led by the defensive sectors, utility and real estate . this year, a completely different story. up 48% on the year, it's best year since 2009. that of course was the year following the financial crisis. investors buying stocks hand over fist. that is the degree of buying power we are seeing perhaps that weakness last year has a lot to do with the buying power we are seeing this year. this year, nine of the 11 sectors up

taylor riggs, bloomberg news.r discuss apple's performance in 2019, we are joined by pierre faragut. also with us, gene munster. pierre, let me start with you. where are we in terms of iphone sales which makes up about half of the company's total revenue? some analysts say iphone sales are great. rosenblatt says they are down 30% year-over-year. where are we in terms of iphone sales? pierre: i will take you back to the beginning of last year when iphone sales came down very significantly. that was the reason for the very strong iphone x cycle in 2018. hidde the factcle that my phone users are still around but the firsthand buyer is a population that is not growing much anymore. because iphones are getting more and more expensive, they are sticking to it longer and longer. that creates a very different and 2019 and towards the end of 2019. what we had is a fairly successful cycle. that is why you hear so much feedback from the market. on the one hand, they are very obvious indications that the iphone 11 was very we

taylor: that was bloomberg's jeff green.g up, officials from tiktok were supposed to meet with senators pressing them over security concerns. we will get into why it is not happening. bloomberg technology is live streaming. our globalfollow breaking news network. this is bloomberg. ♪ taylor: welcome back to the "best of bloomberg technology." now i look at the united states versus tiktok. the viral video app is under pressure from those who worry about data security and user practices. executives have canceled a number of scheduled meetings with u.s. senators that were set to take place in washington this week. bloomberg's paul allen and i sat down with our own kurt wagner on tuesday. kurt: we are told these are delayed, and that they will be rescheduled in the new year. part of the issue is, you may have heard other things going on in washington, d.c. these days with the potential impeachment of the u.s. president. as a result, the feeling from the tiktoc side was there is a lots going on right now. not the best times to be

♪ >> i am taylor rags in for emily chang. this is the best -- i am taylor riggs in for emily chang.his is the best of bloomberg tech. theng up, expedia joins ranks of those losing a ceo. larry pages googles and sergei brennan. brin.gey widening itsftc is investigation of amazon. we will have details. national security risk -- blackburn on the social media app tictoc. -- china'sled it to best detective. we will talk to her after tictoc says it has made changes. we begin with major changes happening at alphabet. larry page and sergei brennan brinnced -- sergey announced they are stepping down. remain active and remain on the board. on tuesday -- >> it was a pretty big surprise actually. there had been some questions about how much longer send our dar would want to be ceo of google. google is under a massive amount of scrutiny. there have been internal protests within the company. this really was a surprise. he has basically had to deal with all of these things and now he will be back dealing with all of those things that happen under the apple umbrella, -- sergey ared visionaries and

taylor: thank you.reported a strong showing wednesday when the chipmaker reported first-quarter earnings. in impressed wall street with a strong outlook of between four point $5 billion to $4.8 billion in revenue. more on the analyst call, wedbush securities analyst matt bryson, who has an outperform on the stock. and he was on the call. what was your key takeaway? what did you hear from management? >> i think there were a couple of things that were important. one is they are seeing tightness in certain areas. also, they are calling a bottom for memory in general. they think this current order is going to be a bottom of the cycle. nand pricing move up in the quarter. it very much parallels the guidance they gave for flat gross margins, which again suggests pricing is normalizing finally. : pricing normalizing finally, sons of tightness. does this have any implications for tax -- for capex or expansion of capacity? this point, they are remaining conservative in their capex outlook. they are keeping their

♪ taylor: i'm taylor riggs in san francisco and this is bloomberg technology.oming up, a record-breaking season. the holiday. was -- the holiday period was gangbusters for online retailer amazon as the company says billions of items were ordered by customers. plus, apple, tesla, netflix, we've got gene munster with us to talk 2020 predictions. and a 2020 launch. facebook's cryptocurrency libra is set to debut next year. we will hear how the head of libra and the facebook coo touted this big promise. but first our top story. record-breaking sales for amazon. the e-commerce giant posted its largest advance on the s&p 500 index on thursday. amazon didn't release specific sales figures, but the statement backs up broader reports that online shopping picked up this year. i want to bring in spencer and darren baker. spencer, talk to me about what we learned from amazon this holiday season. spencer: in terms of their statement, we didn't learn much. every year is another record for amazon and e-commerce. what we did see was that this was the first year, one that they

♪ taylor: i am taylor riggs in san francisco. this is "bloomberg technology."oming up in the next hour, tesla's turnaround. at least one analyst says it looks credible. we will hear from dan ives of wedbush, who raised his price on tesla to $370. travis kalanick severs his ties and uber, leaving the board selling the rest of his shares. what is next for him and the company? regulation, legal and legislative hurdles continue, especially for overseas apps. we will hear from senator marsha blackburn on how much more needs to be done. first, our top story, and a lot of market action on thursday, specifically in the tech sector. the nasdaq closed above 9000. it has returned more than 35% -- the tech sector has now returned more than 35% this year and is on track for its best year since 2013. one of the best performers has been apple. on a point basis, apple is one of the best performers in the s&p 500. it has outperformed on a percentage basis. another high, another day, another record at tesla, $430 a -- closing out at $430 a share. tesla and elon musk have defied

taylor: upper bound. john: 2. taylor: what part of high-yield upper forms? know what, i will just get one answer their. collin martin, peter tchir, john bellows, thank you both. this is bloomberg "real yield." ♪ mark: i'm mark crumpton with bloomberg first word news. japan is calling on south korea to help improve ties between the two countries. this comes days after shinzo abe and south korean president moon jae-in met at a summit in china. the leaders agreed to tone down their feud, though they may little progress in resolving disputes. the icy relationship has heard tour is him, and security relations between the two nations. violent protests continue in india. there are military and police forces were deployed in muslim majority districts in a north indian state today. officials also shut down the internet. nearly two dozen people have been killed and 1000 arrested in the nationwide demonstrations. the testers have called for the citizenshipf a new law that excludes muslims. ireland issued more than 900,000 passports in 2019, a record high . applications

taylor: --tit-for-tat battle here.r: it is notable that they are not ruling out -- how would you do that in the eu? laura: they are trying to figure out, where would you draw a line of what is big tech and what is a smaller startup? you are looking at pharma, manufacturing. it is a really big 800 pound gorilla that makes it really hard to get every side to agree to the tax. this means that some countries like the u.s. could end up losing out while some countries like india and china and appointing. taylor: bloomberg's laura davison, thank you for joining us. coming up, china is cracking down on cryptocurrency but miners are still creating tokens. this is bloomberg. ♪ taylor: this is bloomberg technology global link where we join bloomberg daybreak australia to bring you the latest and global tech news. i'm taylor riggs with shery ahn in new york and haidi stroud-watts in sydney. let's take a look at the top level tech stories of the day. shery: goldman sachs made its third and biggest latin america fintech bet yet. $12

taylor: what about your take?at you saw out of the market this year over the course of the year was less of a willingness from public market investors to accept large losses and on profitability. un-profitability. and lyft led the class. all of that ipo supplied led to some technical challenges. others lyft and uber and with the trend turning to private longer. that summed up some of the demands when they became public. there were a lot of lockups. there were a lot of technical issues. uber and lyft had negative news. there were regulatory issues and other problems that were disclosed. that had sentiment low. we was if i can flip over the course of 2020. tom, you mentioned a lot about the magnitude of losses. you will have to clarify to me. when i went to our cfa -- my cfa school, we were taught that the bottom line is important. am i being too hard on the companies? is profitability good enough? tom: i don't know if it is good enough. colleagueustry, my could attest, we see companies trying to convince you to loo

taylor: i am taylor riggs, and for emily chang, and this is the "best of bloomberg technology." where we bring you all of our top interviews from the week in tech. coming up, thpump the brakes. london's transit authority refuses to renew uber's license. they vow to appeal. plus,. my head, -- plus, full steam act global push fails. we will hear from her. strong debut shares of alibaba begin trading in hong kong, ending its first trading day more than six percent above listing price. our top story this week, you were and it's uncertain future in london. the city transit authority refused to grant the ride-hailing service under license on monday. the top regulators said uber failed to adequately verify drivers identities but u-verse as it has taken care of the issue. swiftly responded tweeting that the decision was "wrong." uber will appeal the ruling. london mayor says much more needs to be done with regards to safety. be am keen for london to hotbed of innovation for new businesses. you got to abide by the rules and what's clear is uber's policies passenger safety has been compro