danger.e not in i think it's been poorly portrayed in the media and to say that there is theth potenti. when you think about it, there is a strict chain of command for the memory cards. memory cards are not sent to the town clerks. here in vermont, we don't have county governments come as we from the state level down to the town level. the ones that actually manage our elections. they have a strict chain of command with regards to the memoryth card, which they don't receive until about two to three weeks before the election. they do itct before. in many cases they are transferred their check on the morning up and they checked again after they shut down. but i think it is important to remember that we are really creating a fine balancing act between cybersecurity and opening up our elections process to the general public. i think it's important also to remember that we are constantly focused especially since 2016 on cybersecurity. >> how much more so with the federal government involved in this process is 2016? what would've changed on that level in your relationship or in a state the f

potentially some ideas. and that is not the kind of thing we want to reset around. is thetheeme republicans holding both houses and the democrats taking a both houses. it would probably lead to markets that would be very positive for the republican side. would be athat modest rally but not a huge amount to trade around. david, brexit, we did at the papers and they went after theresa may in terms of negotiated. you have quite a negative view of the three potential issues at play, a deal, brexit and other issues. take us through your 1-3 probabilities. david stubbs: we have been debating the probabilities and no deal brexit, 20%. you have to raise and that every time we have this. vote.ll parliament has to the prime minister has to come up with an agreement with the eu and it is going to be very, very hard. under the pressure is much greater than today. nejra: david stubbs, what a great hour with you. chief client investment strategist at jpmorgan. more on "bloomberg daybreak: europe," next and we will talk markets. ♪ manus: good morning from dubaimanus:. nejra: live from bloom

potentially next year, potentially at eight $100 billion valuation, twice as much as what it expected in that round. elizabeth: it is not unusual for the first numbers to be large. snap ipo, thethe early valuations were $40 billion, but it went closer to $20 billion. we should think of these as early numbers as the banks pitch for this work and i want to win it. emily: talk to us about what we know about the uber and lyft offerings how we expect those to , proceed, potentially one after another or at the same time. selina: they are expected to be listed next year and it will be a race to see who goes first. who goes first will set the market expectation, the precedent for the following listing. uber is several times larger, but lyft has capitalized on the struggles of uber increasing market share as a result of those struggles. these valuations are incredibly lush and should be taken with a grain of salt. we saw several listings recently including xiaomi and snapchat that have ended their listing at less than half and expectations months before they were sold to investors. the valuation for uber is expected to be at $120 billion , it is really coming down to what the investors m