emily: tpg has long been active in asia.t is the most significant investment trend that you are seeing there, whether it is in china or elsewhere? jim: my favorite trend right now in asia is health care. people want to spend more on their health and well-being, yet the existing systems are not set up for either the growth in economy or change in health care delivery. so to give you a sense, we owned one of the largest maternity hospitals in china. we are building cancer centers across hong kong and southeast asia. we are doing surgery centers across india. so, this concept of catching the demographic wave, but also catching what is a global change in the delivery of health care, is i think, the truly interesting investment area. emily: you were in saudi arabia recently. what to do think those opportunities are? jim: you have an economy built on hydrocarbons, which is pivoting to an economy involved in the global markets technology and otherwise. that is a massive, bold move. and i think it will create investment opportunitie

with jimtzker sat down coulter, co-ceo of private equity firm tpg. they discussed what worries coulter and what an investor investorons -- why expectations have changed. i would describe the mood here as euphoric. are you picking that up? >> there are several layers of moods going on. on the political side, it is open versus closed nationalism versus globalism. on the tech side, there is always a buzzword. this year, it is ai and blockchain. and i always look for underlying themes. one that is intriguing me this year is tech-last, which is the backlash against technology. tech has been about enabling change, and now there are questions about what environment those changes might challenge society. erik: in what quarters are you finding that? everywhere or in pockets? jim: in many places. listening to people on the business side, the question of employment backlash, what happens to the 4 million people whose title is driver? e-commerce is great, but there are 3.5 million people whose jobs are check out. what will that mean economically, and what will t

. ♪ ♪ emily: he cofounded tpg, one of the largest private equity firms in the world.ng with david bonderman got their start by investing in a bankrupt continental airlines in 1993. today, 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

one of tpg growth's most successful investments.am: that is right. erik: what has to happen before uber fully recovers from the damage done by the management style under the former ceo travis, and the company culture he created? , it is: i think dara obviously a new dynamic with a new leadership team and the new governance model that just came into effect when softbank investments. there is now the framework for -- it takes time for culture to change. erik: measured in quarters or years? william: i don't know. the company is doing a very good job of executing on its core business. it is working very well. this is a company that is and will be a great company. it is in its core business. culture is hard to change and images even harder. i often thought if rise existed at the time we invested in uber, it would've been nice to have part of that investment in rise because the impact of uber is extraordinary. when you look at statistics around drunk driving, it is a job creation. erik: quick question before we will- a child born today, t

there was a moment where president trump slurred his speech a lot and people were wonder tpg that wastive or what was happening. let me just remind people of what was happening and we'll talk about what the doctor said. >> i asked the leaders of the region, politically religious, israeli and palestinian, jewish and christian and muslim, to join us in the noble quest for lasting peace. thank you. god bless you. god bless israel. god bless the palestinians. and god bless the united states. >> okay. so now we have an answer to that. how did the doctor explain it? >> it was quite simple from the doctor's perspective, he said he had been prescribing the president sudafed, an antihistamine. that makes your mouth quite dry. he said it was just dry mouth that caused that. dr. jackson asked, could there be any other reason, a denture, personal denture or something dental at all. he waived that off and said this was simply dry mouth and said it was his doing, prescribing the sudafed that caused the problem. >> he said i overprescribed the sudafed. it does dry you up. finally an explanation. it

they have resolved some of the dispute they are having with tbg and i hope we will find out here in -- tpg will find out soon. mark: time for the bloomberg business flash, job cuts on the , they the maker of botox are planning to cut more than 1000 positions. it spares another 400 open positions eliminated and they are preparing for one of its best selling products, the dry eye drug, to go off patent. saudi aramco looking for a bank to help its financial assets. they are said to have invited banks, coordinators, and book writers with a planned ipo later this year which could be the world's biggest share sale. that is related bloomberg business flash. vonnie: looking ahead to fed minutes at 2:00 p.m. this afternoon investors looking for hints of increased hawkishness and the uptick in inflation expectations. earlier this morning, narayana kocherlakota discuss the role of monetary policy. >> the evidence seems to show there is more room for improvement in the labor market. we have very strong employment increases. month to month, relative to what i expect to be true in the long run. around 1

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

. >> you know, i know victims don't like the word closure, but i'm wonder tpg at that moment when she sentenced him if you felt some relief, if you felt some end to a chapter or what your emotion was. >> i did. i did feel some relief. it's a very surreal moment being there with the working very hard and it took a very long time to reach this point. it's a very surreal moment. i think it's a very -- it was a great first step in the healing process. incident was a great sense of closure for that moment to see him spending the rest of his life in jail. and we still have a lot of work to do. but that was a great moment for sure. >> how about the moment she took the time to read larry nassar's all right to her. this was him basically plea ding for a shorter sentence. she read his words. let me read a portion of that to everyone. okay. these are larry nassar's words. those patients that are not speaking out were the same that praised me and came back over and over. the media convinced them that everything i did was wrong and bad. they feel that i broke their trust. hell hath no fury like a

security were concerned because we see the possibility of another travel ban-like train wreck come tpgngress waits to the left minute on this. >> so timing is essential. >> we have to do it in january, not wait until march. >> they are certainly playing politics. jeh johnson, appreciate your head on all of these things. you're always welcome here. >> thank you. >> alisyn. >> he is the new senator who pulled off a major upset in alabama by he beating roy moore. steve bannon's candidate. what does doug jones think about everything that's happening today? he joins us live next. >>> also, we're tracking the huge winter storm hitting the east coast. we're live with updates. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how. with moderate to severe rheumatoid arthritis? how do you chase what you love do what i did. ask your doctor about humira. it's proven to help relieve pain and protect joints from further irreversible damage in many

quickly as possible to get out from underneath the terms of this convertible debt they raised from tpgmily: how is a direct listing different from a typical listing? alex: in a classic ipo, you hire bankers. they got on a roll show, and they try to figure out, with certain terms, what valuation the investors are willing to swallow. this cuts out a lot of that. and that all costs money. they pay the underwriters anywhere from 2.5%, which is 7%. snap did, up to with this, it is different. they basically came out and said, look, our stock is trading now. we do not know how the mechanics are going to work, but in the past direct listings i have looked at, these small companies that have listed, they basically just open the shares on day one like a normal open auction. and that can inject some questions. is there enough supply, enough demand, where does the price stand? these are all things they will have to sift through that could inject a lot of volatility into the shares. you might cut out some of the underwriting fees, but if they are going to move ahead with this, they say they don't n

expansive content deal vice raised over $1.4 billion in addition to disney and fox, a&e networks and tpgted $450 million just last june vice ceo shane smith telling me back then that bringing on tbg makes sense, would make sense for a company looking to go public around that time vice taking stock of its employee base that doubled in less than two years to 2500 fulltime staffers. a source tells me that vice surveyed employees and found demands for greater diversity. understanding the stakes especially if an ipo is on the horizon vice pledged to reach pay parity by the end of the year and 50/50 gender rpgs along the ranks. sent a statement saying, quote, we're committed to making the changes necessary tonight sure the vice workplace is respectful and supportive in line with the work we do every day the ceo wrote to employees yesterday this is also about the bottom line saying diversity is fundamental to the company's ability to connect with its audience carl. >> julia boorstin in l.a. watching the vice story for us julia, thanks. walter, a lot of companies have had to respond to this how

. >>> tpg has its hand in some of the biggest names looking to go public including uber and spotify.e co-ceo and founding partner we're thrilled to see him again. the last time i saw 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