travis kalanick himself has been selling. buying into it?iger global, known for its private market bets as well. we also have them buying into this quarter slack and beyond meet, more ipo companies for this year. who else do we have that is kind of a hot stock? harvard management is flowing into facebook as well as tiger global. so we see some activity there. people seem a little bit mixed on apple and google. warren buffett trended down on apple a tiny bit, nothing to be super alarmed by. but alphabet itself, i would love to see what all these numbers look like in aggregate because it seems like hedge fund managers have a mixed view on what the value is. taylor: i like that you brought in warren buffett. when he originally bought into apple we were all surprised given it's a tech company and not a traditional value company. what do we know about his stake in apple and where it stands? >> he trimmed a very little bit. he usually tries to stay away from big tech companies he doesn't understand, but his stock pickers have been warming up to th

meanwhile, uber co-founder travis kalanick has sold about 20% of his stock in the company.trade came after a 180 lockup period. kalanick still owns a 4.6% stake in the company. meat areers in beyond rushing to sell shares now that restrictions have ended. the ceo is holding onto his shares. shares have lost more than eight quarter of their value since the lockup expired last month. musk's company tesla has unveiled its first car built in china. tesla's newilt in factory in shanghai. that is your business flash update. joe: coming up, goldman sachs being investigated for alleged discrimination over its apple card algorithms. it all started with a tweet. what this means for goldman's push into consumer spending. this is bloomberg. ♪ mark: i am mark crumpton with bloomberg's first word news. president trump kicked off new york city's veterans day tribute today saying the nation's veterans wrist everything for us and now it is our responsibility to protect them everyday of our lives. he spoke at the parade organized by the united war veterans council in madison square park. he

we are a company that will throw our weight around more than they might have had after travis kalanick left the job and reputation was in tatters. i think they are still trying to play the cooperative nice guy to the extent they can. taylor: talking about uber's response, i want to bring in a soundbite from the head of the u.k. in uber. >> in the u.k., one thing we are intended to launch soon is driver face matching. essentially, a technology that has been in the u.s. since 2016 that means that drivers can only logon their account and start trips once we've identified either through automated means or human contact that they are they are. taylor: does this appease any of the regulatory issues going on right now? eric: uber is stuck in this situation where you can have privacy or safety but you might not be able to have both. there is a sense that uber wants to look at videos, voices in the car. these are all areas, where we can give you privacy and more safety. that will be where the big debate will rage around uber, where they will take big hits both ways. it is a question of how much

since the lockup ended earlier this year, travis kalanick has now sold almost $1.5 billion of uber shareskalanick sold off this week. he has signaled he could offload his entire stake. his uber holdings now make up less than half of his $4.3 billion fortune. alix: thank you so much. we want to turn to hong kong. the high court there reportedly allowing the government to reinstate a law banning protesters from wearing facemasks. earlier this week, the court ruled that very law unconstitutional. for more, karen leigh, bloomberg's greater china editor, joins me on the phone. but using is behind this decision? karen: it is very controversial here. they said it was unconstitutional earlier this week, so a bit of a switch. chief executive had imposed the mask ban last month. she invoked a colonial era emergency power for the first time in more than 50 years to do it. it was pretty quickly and deliberately flouted by protesters, who continue to wear masks in order to shield their identity from police. this comes a few days of hedge will -- of scheduled district elections here, normally a low-key

travis kalanick, uber's cofounder and former chief officer formed a competing business, creating tensionen former and current ceos last year. joining us to discuss is the ceo of virtual kitchens. great to have you. >> it's a pleasure to be here today. food delivery is really popular. consumers continue to love the convenience of it. we talked to a lot of restaurant tours, and it turns out, it is a challenge for restaurants that are built for dine in. possible tog it expand delivery in a simple way with low cost. and it brings more selection and great food to more customers. uber in parteft because you saw the strain delivery apps were putting on the restaurants. how are you solving for that strain? >> absolutely. restaurants are really built for dine in first. it turns out for delivery there is a set of whole new challenges, similar to .rick-and-mortar 10 years ago we build space operations and with staffing, menu, and site selection to help them do the best delivery product possible, bringing it really close to customers. taylor: every analyst on the street talks about how capital-inten

travis kalanick will just not stop selling overstock. the co-founder has now sold $1.5 billion of shares. million ines a $570 stock that he sold off three days this week. in a filing, he signaled he could offload his entire stake. i want to bring in bloomberg doubt knology is -- "bloomberg technology"'s eric newcomer. does he just want the liquidity? >> the stock market does not seem to be taking it as a negative signal. it has been up lately, but to me, he understands who learn than anyone. arguably up there with dara. obviously he is not running the company, but this is the man who built this business. the idea that he is selling it, i think is a signal that people should watch. taylor: i also want to talk about a different story that you were writing today about dashboard cameras. while it is rising sea concerns, i wonder if it is good for the uber cars to have these dashcam's to help with safety and security. your thoughts. classic privacy versus safety trade-off. surveillancee a state so they have a record of anything happening and

we are a company that will throw our weight around more than they might have had after travis kalanickeft the job and their reputation was in tatters. i think they are still trying to play the cooperative nice guy to the extent they can. taylor: talking about uber's response, i want to bring in a soundbite from the head of the u.k. in uber. >> in the u.k., one thing we are intending to launch soon is driver face matching. essentially, a technology that has been in the u.s. since 2016. that means that drivers can only log on to their account and start trips once we have validated either through automated means or human contact that they are who they say they are. taylor: does this appease any of the regulatory issues going on right now? eric: uber is stuck in this situation where you can have privacy or safety but you might not be able to have both. there is a sense that uber wants to look at videos, voices in the car. these are all areas, where uber says, ok, you are worried about safety we can take away privacy and give you more safety. on the policy side, that will be the big debate

it's about consumer meeting expectations for frictionless convenience >> so the founder of uber, travis kalanickng $35 million into ghost kitchens, kitchens without a restaurant attached just for delivery are you doing that >> we're absolutely going to broaden the reach of our brand by leaning into virtual restaurants. we're going to test virtual restaurants early next year. we're going to partner with grubhub and ubereats and it will be a fast casual -- modern fast casual concept, with a cool vibe. and it will be boston market food that is served with a more modern twist so we're aiming at people who are heavy delivery users, who are not really into chain restaurants, but looking for, you know -- not food snobs, either so they're looking for a bit more of a modern twist on great food >> what -- apart from thanksgiving day, which we know what people would order then, what are the biggest-selling items? >> well, we -- rotisserie chicken -- our row 'tisti >> well, we -- rotisserie chicken -- our row 'tistiserie chicken -- >> you were boston chicken >> we were boston chicken. and it's still our mos

travis kalanick has sold a lot himself. why does it matter?ook at hedge fund performance, it has been lackluster. but i think a lot of people are hoping the markets will go up. equity hedge funds have been doing better than anybody else in the class. so people are hoping that the volatility can really form a resurgence for some of these guys and post some really significant gains through the end of the year. guy: the house intelligence second day of public hearings underway with the former u.s. ambassador to the ukraine testifying. any bombshells? kevin: former ambassador marie yovanovitch testifying, saying she felt "threatened," when she learned she was featured in the july phone call between president trump and president zelensky. she also testified she feels that her ousting by president trump in may was a hit at morale at the state department as well as for diplomats all around the world. president trump, for his heart, having a busy morning as it relates to the impeachment inquiry. he tweets, "everywhere marie yovanovitch went turned bad

travis kalanick and his naughty ways should make good drama.d on a book called super pumped written by a new york times reporter, mike isaac. >> i get to be co-executive producer. i'm super excited about it. look, they're going to finish writing this next season of billions and then we'll probably start working on it. i think i'm going to try to get the rock to play me. i think that would be true to life. >> mike is going to join us on press on sunday. this is what i like best on the show. we have reporters from "the new york times" and the guardian and cnbc all gathered together to talk about the issues. "press: here" is sunday morning at 9:00 after "meet the press." >>> thank you, scott. up next at 6:30, getting money back from the pg&e power shutoffs. how much san jose and other major cities across the state are receiving. >>> also, should congress impeach president trump and remove him from office? the results of a new poll as the impeachment inquiry moves forward. > >>> right now at 6:30, cold hard cash for your suffering. how cities who l

uber co-founder travis kalanick has sold 20% of his stock in the ride-hailing company.o a regulatory filing, the shares were worth 547 million. the trade came after a 180-day lockup period, restricting inside or early investor sales. shares of uber have fallen 30% -- have fallen 40% since the ipo. kalanick owns a 4.6% stake in the company. now spacex just launched its , second batch of satellites on monday. another step towards elon musk's vision for worldwide network of space-based internet. the rocket was launched from cape canaveral air force station in florida. spacex launched its first batch of satellites back in may. joining us to discuss is dana hull. tell us about today's launch and why this was significant. dana: elon musk has a vision of space-based internet. to do that, they need to put thousands of satellites in space , and they are doing it in batches of 60. the first 60 went up in may, the second batch was today. they hope to do for more launches in the next six months and they hope to start service , in the northern u.s. and parts of canada next year. kur

london, they started back in 2017, and that was more of a corporate governance problem it was travis kalanick that was at the he helm. what's happened now, uber has received these 15-month extension, a two-month extension, and then last night they did not receive the extension at all so as you said, they can continue to operate but what hangs in the balance is their most important european market, and what is different this time around than 2017 when that license was initially revoked is that these are operational failures it's no longer about corporate governance they have apologized, tried to make things right, but the technology still isn't working for them the tfl cited 14,000 unauthorized and uninsured trips, and that is a big problem for uber. >> it certainly is does it change morningstar's view on the equity you guys have been bullish it's been a very difficult story for investors. this could be a gigantic blow for a company that's already under attack on a couple of levels >> it could be, but we think the chances of that are pretty slim and to answer your question, no, it actually has

this is less than the amount travis kalanick has sold already since the lockup expired. guy: here in europe, very light volume. stoxx 600 down by 0.1%. bottom,stocks at the firmly in the red. the euro is actually negative today. saw germany avoiding recession, but the euro is down because that is going to make it less likely that we get german fiscal stimulus. but weig move, though, are trading around the $1.10 level. the german ten-year has bounced back by 10 basis points this week. today we are down by another four basis points, so we are starting to get a little but of traction back in the bond market right now. i suspect the euro is about the german story. the german ten-year story i think is more about the trade story. vonnie: hong kong crippled by chaos for a fourth straight day. public schools are closed through sunday. companies telling employees to stay home. major events are being canceled, and some train lines suspended. earlier, china's state owned "global times" newspaper deleted a tweet in which it reported that hong kong's government was expected to announ

for a long time in these cities and actually the first thing that the new ceo who came in after travis kalanickas go to londer to assuage the critics there. it was one of his first international trips and it was very soon into his becoming ceo. so it's really problematic if they don't get these cities straight, especially london which i think is its biggest revenue generator after the united states. the thing is it comes after a couple of really big stumbles including dara's unfortunate interview he did with axios where he seemed to not defend the saudis, but wasn't -- certainly wasn't -- didn't -- he misspoke, i guess. i don't know what else to say. and then obviously there's issues around the economics of the company, there's the stock sales and things like that so it's not a great time for him as a ceo >> kara, trying to pit this inside a larger tech narrative it seems like there are some platforms that had a maybe if not growth at all costs, growth, growth, growth strategy. >> yeah. >> now they're having to go back and add costs to figure out how to either comply with regulations or just op

travis kalanick's november selling spree has reached almost $1.5 billion. the uber co-founder sold over half a billion of stock over three days this week. it extends a series of sales since the lockup ended earlier this month. more disposals may be coming, signaling he could offload his entire stake. saudi aramco has raised $19.5 billion in the first five days of its offering period. the figures suggest that institutional portion of the deal is already 90% covered. the retail crunch is about 46% covered. that is your bloomberg business flash. much. thank you so let's turn to georgia, a country on the crossroads between east and west and a key trade route for some of the world's biggest economies. the former soviet nation has aspirations to join the european union and is currently has an association agreement with the bloc. it has fostered close relations with china, having signed a key trade deal in 2018. joining us in the studio is george's vice prime minister, maya tskitishvili, who is in london for the investment summit. welcome to the show and good morn

travis kalanick himself has sold a lot. so why does this all matter this period? it is a stock pickers market, and equity hedge funds have been doing better than anybody else in the class. people are hoping that the volatility can really perform a resurgence for some of these guys and posted significant gains through the end of the year. alix: kevin: thank you very much. -- alix: thank you very much. still with us on set is chad morganlander of washing present in -- of washington cross and matthew miskin of john hancock investment. --matthew: we would stay with the steady technology names consistently growing, consistently profitable. one major concern is that many of these tech names do have exposure to china, as you saw with cisco earnings. if there isn't a trade deal, that could have significant impacts on earnings growth going out 2020 to 2020 one. michael: i want to spend the question a little bit to you. when you look at what sonali was just talking about, do you need to go -- and i don't want to start this off as a fund versus hedge fund debate -- but do yo

>> travis kalanick or kaepernick. colin kaepernick.ed in little over three days, unloading half a billion. that brings it to 1 1/2 billion. what is going on? >> listen he is clearly somewhat cashing out. i guarranty he will say this is tax purposes or something like that. but he is clearly not a vote of confidence for the stock. neil: yeah. >> i will say this uber, shouldn't have come public. okay? the value of uber dissipated a when it became public that screwed over a lot of small investors. value of uber was made when it was a private company, people were trading in and out of the stock and -- neil: kalanick knew it would bring attention when the lockup period expired. >> they don't care. neil: that much? >> he wants to be rich. neil: i understand that. >> in his defense he would say listen i created a great technology which it is. why shouldn't i profit from my -- neil: do we know how much more he has? >> yes. that's filed. i mean, i don't know how much more he has. but i'm sure he didn't sell the entire stake. if he sold entire st

he was a very early investor for uber he was an investor for travis kalanick employees have been richet some of the money out a couple of years ago softbank bought some of it he made the point some may very likely sell today just because you've got to make good on some of that. by the way, a lot of them were granted those things they're underwater they're just not as rich as they thought they were. >> the employee base will probably sell some i doubt that's going to have a deep, deep impact on the stock price. i think it's the institutional investors will have more of an impact private investors won't sell the minute the lockup comes off. there will be a little bit more of a tail there. the risk will be early stage institutional investors have a 10, 20, 30 times gain on the original investment they made. they'll say, look, i'm going to take my money off the table. i've made more than i expected. >> are they safer to invest than three months from now when that has cleared and is out of the way? >> a stock like uber is pretty widely traded. there will be short term volatility when it ex

activist will ultimately emerge uber, unlike virtually every other place in public, because of the travis kalanickto a one share, one vote system right? every other unicorn out there including lyft, everybody else has dual class you can't do anything about this the question is do you think this opens them up to an activi activist if you came in there and said, running for growth, i don't think you're growing fast enough, you have a cash problem. we talk about the reverse, running for cash, i don't know what you get because you don't get the growth >> i spent most of my time operating onion line shopping sites. i'm not the expert. >> the reason i ask is you did spend a lot of time on governance at snap there was a decision to have a dual class there >> yes i think one of the things that every company has to make their own decision and i think a lot of times the way we make the decisions of structure, our decision was not like, you know, let's vote that we are not hearing for the shareholders we were listening to the shareholders but given that snap's long-term goal, it makes sense to protect the co

uber, their former chief executive, travis kalanick, sold more than 20 million of his shares after thelion, 21% of his stake in the company, he sold it as soon as he could. uber's down to 26.92 this morning. winter more than a month away, but try telling that to chicago. jeff flock is in chicago braving the cold for us. we'll have a full report on that in just a moment. yes, it's veterans day. later this hour we're joinedded by two medal of honor recipients. don't miss their stories, they are fascinating guys, and we'll be back. ♪ stuart: the lady who's singing that, whe name i do not know, sounds awfully happy about the freezing cold outside. >> let it snow first. stuart: there is, indeed, record-breaking temperatures all across the midwest. jeff flock in the thick of it in chicago. i don't know where you are now, but tell me how cold it is where you are. oh, my lord. >> reporter: we're miserable enough, so we thought we'd come right down to the shore of lake michigan, and now the snow is starting to quit out here, and we're starting to get the cold. we think it's going to go down to

travis took care of that for them. the new series is based on the book "super pumped, the battle for uber" written by mike isaac. the times review said isaac depicted kalanickl bro-genius with ride sharing. >> and joining us, and jose ferm oso who writes for the guardian. and you start with two books and somehow they flow together, don't they? >> i think so. i tried to capture what this guy essentially stands for and i think it is a mixture of these grand ideas of what a start-up founder is supposed to be mixed with maybe a can of axe body spray. >> and you have to introduce everyone in silicon valley still remembers and working on other stuff well remembers his time at u uber to the average person not familiar with the back story you have to establish who he is and why he created so much controversy. >> travis had done two different start-ups before and probably in his later 30s by the time uber came around. and i think the point i wanted to get to in the very beginning is he's done two start-ups and had been -- betrayed by those that backed him initially and that went to the mentality, this is my company and no one could take it away from me and i'll secu

travis. according to new fec are filings they had shares of the company worth more than 546 million dollars. kalanickwns about 75 million shares the stock has fall aen more than 13% in the past week due to heavy selling. and burger king is testing three new impossible buggers at 180 locations, the impossible whopper jr. is impossible burger and the impossible cheese burger they will appear on the value menu and be available for kids meals and wendys is celebrating 50th anniversary with a birthday cake flavored frosty. it is the first new flavor since it introduced a frozen treat in chocolate and vanilla that is what's happening now. that's a limited e e edition frosty so -- get it quickly. >> sign me up. thank you so much. go get that. let's take a look at your money that was not limited edition folks because we could see a dow 30,000 coming soon. one white house official says yes get ready for it right now the dow is at 27,675. futures higher for dow up 17, s&p up one and three quarters nasdaq up three and a half. another billionaire taking on elizabeth warren why mark cuban say she's misleading the