One, but it is a wakeup call for the Prime Minister. The tally is the worst performance in two decades. He may adopt a more populist agenda. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Lets take a look at the markets. Australia has closed out tuesdays session in sydney, up by 7 10 of 1 , the nikkei flat cured the hang seng looking good after the lunch break and India Holding onto gains. This is bloomberg. Emily im emily chang and this is bloomberg technology. Coming up, bitcoin hits another gear on a bigger stage. Why sundays cme debut could play a defining role in the cryptocurrencies march to the mainstream. Plus, the blackout at americas Busiest Airport. How tech can help keep the power running when the lights go out. And stepping up security. With just a week to go for lastminute shoppers, an ebays executives tips on shopping online. First, to our lead. The worlds Biggest Exchange just joined the bitcoin revolution. Bitcoin futures started trading cme after there were similar derivatives on the volatile cryptocurrency. Cme is a much bigger player in futures. The exchange got off to a faster start with more efficient pricing. Its most active contract changed hands 221 times in the first hour. It is a huge win because cme contracts are five times more valuable, tied to five bitcoin compared to only one with see both futures. Us is an investor in cryptocurrencies. Also our editor at large, cory johnson. Olaf, i will start with you. What is your take with the first week . Olaf it is very important that these advanced Financial Products and hedging mechanisms are introduced for the Institutional Investors. For a lot of them, it is the first time they have been able to go long or short on bitcoin. Emily we have a chart here showing how futures got off at cme, the cboe. Corey, what is your take on the significance of this week versus last week . Cory this is a product of an exchange where a lot of big money trades. A lot of big money funds are unable to trade this, the actual currency itself. It is the only product they can legally get involved in, or depending on where they are trading. A lot more money can be attracted to the cyber currencies without actually being involved with the currencies themselves. Emily olaf, how does the last two weeks change what you are doing daytoday at your hedge fund . Olaf the main thing we wish there could have been more long. There has been a huge amount of media, interest in this area. A huge number of consumer retailers coming online purchasing bitcoin and other cryptocurrencies. I think we are seeing more institutional wall street players coming onto the scene and wanting to go along in this area. I think it is great for the whole industry. It is pushing things forward. Emily you also have Td Ameritrade on friday saying they are now getting into this. Cory right, but with significant requirements. Given the volatility, people have so much money behind this. It is not as simple as trading. A lot of it is owing to volatility and a mania around this. Emily you and i were talking before the show, the price has soared. I feel like every time you have come on, i say are we in a bubble, and the price keeps going higher and higher. Does the rapid rise of the price make you question the legitimacy of the value . Olaf what we are seeing is it is not that dissimilar from the rapid rise you would see from other technology. When you look at a breakout startup like uber, we are seeing a similar rapid rise there. Its happening in private markets that are relatively liquid. Here, you are seeing Retail Investors with the ability to actually gain exposure through this break through technology and see that rise daytoday. It is not that dissimilar from the types of growth you would see from other breakout industries. I do think this is much bigger than any individual company. It is not surprising to me we are seeing this type of growth. I think it feels somewhat inevitable to many of us. Emily do you agree with that comparison . Cory it is not just the coins. It is not just a bitcoin ripple. There is a lot of junk out there. A lot of stocks flying, i was looking today at a company that was a Chinese Energy company and now a block chain internet of Things Company and has a 300 billion valuation. Stocks up 860 in the last week. That is a mania. That is mania not based on what is going on or even the potential for this technology. It is just the mania olaf pushing a lot of behavior is the inability of these Institutional Investors to get exposure. Because a lot of them dont have the ability to buy the underlying assets cory whenever you see a mania, whether it is the dotcom boom, there was uranium in the 1960s, while there were legitimate investments in real companies, there was a lot of junk and a lot of people try to take the money of people interested in the idea. We saw it in real estate 10 years ago. People selling fake properties, people borrowing money. All kinds of fraud both in Big Companies and on an individual basis. I think we were seeing that in this general notion of cyber currency. Once in a while, we can grab onto some real things like bitcoin. We could look at fake things like stocks running with no fundamentals and recognizing these are happening in concert. Emily are you seeing anything that makes you uneasy and if so what . Olaf i think this area is so emergent and experimental. I think it is really good that money is flowing into things that are less sure. That said emily not for the people who lose money. Olaf of course. I think my number one concern is people basically investing in things they dont understand. This is very complicated and esoteric technology. I think retail momandpop investors should be careful, particularly investing in more experimental technologies outside of the bluechip cryptocurrencies like bitcoin. Emily how long do you think it will be before we see other crypto futures being offered . Olaf over this year, we will see dozens of others. Cory we will see some stocks blowup and some real frauds. One of these companies today, this long thin corporation traded 15 million shares at 20 valuations two days ago, the stock is flying off the roof. Basically no financials accompanying. An ipo that has 13 censures against it. Has paid hundreds of thousands of dollars in fines. I dont think the people buying this have any idea what they are buying this from or the firms history. They just want to get something that is block chaining and going up. Emily if there is a correction or lets all come back to earth event, how far off is Something Like that . Olaf if you zoom out, cryptocurrency has been filled with massive corrections its history corrections throughout its history. I think this is just a natural part of where there is a disparity of the number of people what sees what is a somewhat inevitable future and where the technology is today. Cory the trading of this future contracts makes it less likely we will see downsized or any volatility because on the downside, you will have shortsellers looking to cover those positions and buying positions as prices come off. You want see those 20 corrections. Emily first half of 2018, olaf, what will you be watching . Olaf i spent most of my time watching the more Emergent Technologies here. The various things being built top on it. New blockchains. The things i would advise others to take risks unless they fully understand what they are doing. Emily olaf, great to have you here on the show, as well as our editoratlarge, cory johnson. Stocks are wrapping up the last few trading days of the year by hitting new records. Investors are Optimistic Congress will pass tax cuts this week and tech stocks led the gains with nasdaq rising 7000 in the session. Coming up, one of the biggest the Busiest Airports in the world came to a halt this weekend. We will discuss how tech can and should improve travel in the busy Holiday Season. Bloomberg technology is Live Streaming on twitter. Check us out weekdays 5 00 p. M. In new york and 2 00 p. M. In san francisco. This is bloomberg. Emily whatsapp was given a month to comply with french privacy law and stop transferring data from facebook users without consent. Frances Data Protection authorities said it wants to ensure the highest level of transparency on the massive data transfer, according to a statement monday. This comes after 28 eu privacy watchdogs published a letter sent in october to whatapps cofounder. Meantime, power is back on in one of the Busiest Airports in the world. Jackson International Airport in atlanta experienced a massive power outage, lasting 11 hours on sunday, causing thousands of cancellations that impacted air travel across the u. S. We have to ask, what technologies being used to improve air travel right now . Justin covers the Airline Industry for Bloomberg News and joins us now from new york. What happened in atlanta . Justin it appears there was a fire with a key component in the Electrical Supply system. It wasnt really in Airline Problem but an airport problem. Emily is there a risk of this happening again, at more airports . Justin i think there is a risk in terms of what is the infrastructure like and what are those system set up to do. You really have to separate what is going on with the airport and what the airlines themselves are doing. They are huge i. T. Corporations themselves. Emily talk about the infrastructure at the airports and how Something Like this could happen. Justin not so simple, but a simple issue of the electricity goes out and nobody can operate and move planes. What we have seen in the past with delta in atlanta last year, they had a multiday problem where their data center went out and they were forced to build a new one. They spent a huge amount of money and put that in northern suburbs. Last week, the ceo said that cannot happen again with us the way we set up our i. T. Operation. Then there were storms in april that hit atlanta which caused a three day problem. We have seen a recurring series where Airline Technology has been a fault. In response, there has been a huge amount of investment in that area so we have places like delta and southwest, they have both spent hundreds of millions of dollars to really get the reliability and redundancy in that system. When they go down, you are talking about more people than they have had in the past, more people flying, planes more crowded with historic loads. An airline cannot just get back up and running as quickly as it used to because of all the people. For them, that means they need to make sure this technology is as robust as possible. Emily how many people were impacted by this . Justin quite a few people because we are talking about more than 1200 flights yesterday, 400 today. Southwest had a number as well. When you were talking about delta, atlanta is really the key hub in that airline. It is the Busiest Airport in the world, but it is also the busiest delta hub and they put a lot of airplanes through there every single day. We are talking about a massive impact to an airline desk other carriers may not be quite as severe. Emily it may not be hard to jump to the worstcase scenario, is this a kind of weakness that somebody could exploit to perpetrate an attack . Justin probably in the sense if you take out the electric supply, the power grid, you are talking about all kinds of systems that can potentially be affected by that. What works at an airline because they have their own backup power system, and what is tied to the infrastructure. I think that is a complicated question. When you were talking about the ability to shut down all the power, you will have a lot of problems no matter where you are. Emily we are in the middle of the busiest travel time of the year. How might this new technology be helping to ease some of these travel pains that anyone who travels right now might experience over the next couple of weeks . Justin i think with all the money that has been spent, you can say that Airline Infrastructure is probably more robust than it was 18 months ago. At the same time, this wasnt right where the crazy Holiday Travel starts, on wednesday or so. It could have been a lot worse. You could have had a lot more people in terms of what happens later this week. But, airlines, this money is spent very carefully. They know where it went and what it is supposed to do. We havent really had a delta or southwest since a lot of this Infrastructure Investment was made. Over time, we will see how well they get tested when it is their own i. T. Problem and not just the electricity going out. Emily justin bachman, thank you so much for that update. Coming up, espn is in need of new leadership after a shocking announcement. Who will take the reins of the selfproclaimed worldwide leader in sports . Next. This is bloomberg. Emily while star wars the last jedi may be dividing the arts and minds of one o jedi across the globe, it is not doing so at the box office. The latest installment raising 220 million during the opening weekend. That makes it the second highest domestic debut ever behind, what else, but 2015s star wars the force awakens. It has yet to open in china. It has pushed disney over the 2 billion mark this year to become the top grossing movie studio in 2017. Sticking with disney, a surprise resignation has shaken up the Sports Entertainment world. John skipper has stepped down as the president of espn. In a statement on the company website, skipper said he struggled with a substance addiction for years but did not provide specifics. Former chairman George Bodenheimer will take over as acting chairman on an interim basis. We have learned that disney will most likely look at two internal candidates to replace skipper. Joining us now is lucas shaw who brought us the news. Before we go there, i want to talk about what has happened to john skipper here. He released a statement saying , today, i have resigned as my duties as president of espn. I have struggled for many years with a substance addiction. I decided the most important thing i can do right now is take care of my problem. What more do we know about the what more do we know about what happened here . Lucas not a whole lot. I have spoken with a number of people at espn, people who do a lot of work with espn. Everybody was very surprised. John skipper is one of the more candid and intelligent executives out there. Not the kind of person you would expect to have a Substance Abuse problem. And there are people who have worked very closely with him who had no idea this was an issue. There have been some rumors about his job security related to the performance at espn but nothing on a personal basis. Throughout you saw the day a number of senior staffers, tv hosts talking about how supportive he has been. This has come as a complete surprise. Emily the timing is interested is interesting given what espn is grappling with. Who do you think might take over here . Lucas i would guess that the front runner is Justin Connolly, who is the head of distribution, he oversees the relationship with all these paytv operators. They put George Bodenheimer, who has actually run espn, back in charge for now. My guess is that is temporary. Bodenheimer left at kind of the peak and probably does not want the stresses of trying to fix some of espns problems. He is like a comfortable placeholder that everyone knows and knows the business very well and employees and everybody respects. That gives them time to figure out if they want to hire someone internally like Justin Connolly . I think these are people who may have gotten the job in two or three years when skipper was ready to retire. This move really forces their hand. Emily lets talk about the challenges facing espn. I sat down with bob iger a couple of months ago and asked this very question, what his plans were for espn. Take a listen to what he had to say. Bob espn is still a very healthy, very profitable business. One of our most profitable businesses. It has a stable of live sports that is licensed for a long period of time that will serve it extremely well. It is serving it well today on the traditional platform. It is starting to serve it well on new platforms and it will serve it well for the foreseeable future. It is a product that is in demand. Emily that is actually from an interview in may. Given this new twist, have you think that impacts strategy Going Forward . Lucas the scary thing about this timing for espn is they are in the middle of trying to build its online service, that is probably the biggest new initiative in the company in a long time. Espn is the most profitable cable network. Espn and fox news can probably fight for that crown. It has been the crown jewel at disney for a long time and just started to feel the effects of highlights being available on social media, being able to watch a live sports on amazon, twitter. They are trying to figure out how to reimagine that tv network, while keeping the boat afloat. Emily ok, lucas shaw in l. A. Thank you so much for joining us. Coming up, we are a week away from the Christmas Holiday and an ebay exec joins us next on what the company is doing to compete with amazon. This is bloomberg. It is 1 30 p. M. In singapore. This is your first world news. Callednt trump has russia and china rival powers to the u. S. As he outlined a muscular Foreign Policy that attempts to turn his America FirstCampaign Pledge into statecraft. In a departure from his predecessor, he declined to mention Climate Change as a threat to national security. The world banks Quarterly Report on china is leveraging the growth. Gdp of 6. 4 in 2018 as 6. 3 the raptor. Lower factory inflation will tight regulation. Almost two thirds of british businesses say labor market changes will make the nation less interactive less attractive to investors in coming years. Meanwhile, the eu hardened its tone in brexit negotiations. Deal ismay said every unique. If anybody cares to think about it, every trade agreement is bespoke. They have similarities but they are specific to the various countries concerned, and that is what we will be looking for in our negotiations with the eu. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. You are watching bloomberg. Lets get a check on the asian markets. Midtolate session in the asia pac region. A silly coast australia close out high. Holding onto gains from yesterday despite a choppy start at the open. A couple of markets, you have the philippines off and taiwan and some weakness in malaysia on open. The china ase 300 looking good. Youre starting to see a little bit of a recovery coming through in some of these asian currencies as well. The yen fairly flat but the indian rupee coming up after its fluctuating session yesterday. Looks like the Prime Minister will hold onto a key state, pulling is indicating it is the worst performance in around two decades. Commodities looking next at the moment, up by 1. 5 in shanghai. If we look at the graphic dashboard, you can see what is real estate come and energy. On the downside, weakness in telcos. We are seeing quite a significant downturn in the construction sector in japans as we see a provost from the japanese government into construction into a railway. We will be live from london at the top of the hour. This is bloomberg. Emily this is bloomberg technology. Im emily chang. It is crunch time for giftgiving and with the convenience of Online Shopping comes the threat of Cyber Security and fears of packages not getting delivered on time. Here to talk about Holiday Shopping efforts and trends is scott cutler, Senior Vice President of ebay americas. It is the holidays and also time for the big rivalry between amazon and walmart. What are you doing to stave them off . Scott today is the biggest shopping day of the season. It has been a tremendous season so far. What we have seen is a lot of consumers showing up early for the Holiday Season. Tremendously disruptive for technology because you have seen Retail Stores decline over the course of the year. A lot more people favoring online purchasing. Most of those purchases are going into mobile. It has been a great opportunity for ebay and we had a record Holiday Season so far. Emily are you making any strategy changes compared to last season given the dominance of amazon . Scott amazon is one of the largest retailers in the world. Ebay is larger than most of the traditional big box retailers. We are the number two ecommerce player in the United States. Tens of millions of sellers, 170 million buyers across the world. We are a very powerful ecommerce platform, but we are showing up on the holidays differently this year. We have been out early this year with tremendous deals. The best deals Available Online anywhere. We have been telling consumers you can come to ebay and find great deals and get those packages under three days, most of the time for free, and you dont have to pay a subscription fee. That is the big difference for ebay. Emily what about cybersecurity . A huge issue right now and especially right now during the holidays. What are you doing to protect your customers . Scott we have been one of the first for online retail, which is we guarantee the things our customers buy are real. We stand behind everything that is purchased on the site. Cybersecurity and protecting both the identity of the purchaser, but most importantly the Shopping Experience that what you see is what you get, is what ebay is all about. Emily looking at 2018, we know you guys have seen increased engagement but Revenue Growth has not kept up. Do you think that will happen in 2018 . Scott the last quarter results, it was the best quarter in a number of years. We have been growing faster than we have. We have been showing steady acceleration of growth. We are having a record Holiday Season, because i think what we are standing for for ebay, which is you can come to the site, see over a billion things that are available. Most of those things are new, never used. They ship under three days. You have a great Value Proposition of a spectrum of value but finding tremendous personalized gifts at ebay. That has been a very strong Value Proposition that has been driving our growth in the Holiday Season. Emily amazon is launching in australia were ebay is a leader. Sendoff u doing to to fend off the new competition . Scott ebay is a global business. Over half of our revenue and transactions are outside the United States. We have 170 million buyers and participate in 190 markets around the world. Many of the markets in which we operate, we are the number one or number two ecommerce player. We face competition from retailers in local markets, as well as the large Global Players , of which amazon is one. But we are really proud of our global position in some of these big markets. Emily what about australia specifically . Scott we are the leader. We intend to maintain our leadership position and grow our position. Again, that Value Proposition for the consumer in australia is very similar to hear in the United States where you have the world inventory available to you on ebay. Emily the are looming questions about stubhub, continuing speculation on whether you intend to sell the stubhub business. What do you think . Scott i ran stubhub the last couple of years. It is one of the great assets in the ebay portfolio. We have no intentions of selling stubhub. It has been one of the Great Stories of the last couple of years of people valuing experiences maybe even more than goods. Stubhub has been on a tremendous growth trajectory. Emily hottest holiday products on ebay now . Scott our deals team is back in the shop, busy like santas elves, trying to make sure we have great deals available. This week, we will see a shift from those things that once you get closer to the weekend, you will see a shift into digital goods. A very active gift card season at the tail end of the week. We are excited with the Branded Products that are available right now, some great recognizable brands. Microsoft xbox, dyson, adidas. All of these things are available on ebay now. Emily scott cutler, ebay Senior Vice President of the americas. Thank you so much. Happy holidays. Sticking with shopping, if you have not already purchased apple airpods, you may be out of luck. The Wireless Earbuds seem to be in short supply everywhere. As of right now, apples website says a pair can be delivered by january 5 at the earliest date. However, if you find yourself in desperate need of the wireless headphones, some sellers are offering the product for prices of 200 or more on ebay. Coming up, hong kong is revamping its ipo rules in order to lure a new group of companies to its exchange. Can it prevent another situation like alibaba on u. S. Listings . This is bloomberg. Emily three years ago, alibaba famously chose to list its ipo in the u. S. On the new york stock exchange, abandoning its plans to list in hong kong. Now the Hong Kong Stock Exchange is targeting the next alibaba by revamping its ipo rules. Hk exchange ceo charles li sat down with bloomberg in an interview and explained who they are hoping to attract. Charles it is three key elements. One, we are opening a new chapter for Biotech Companies. Their drugs, products not yet being approved so of course they dont have any revenue yet. Rishaad this is the thing that some people were pointing to, that you are selling out because you are ending this property requirement for a new ipo. Charles nothing hurts about having to have a profit. We have a mining company. There is no dispute there is value in there. Unless you build a railroad, you cannot sell your minerals. Prerevenue concept today. You are able to list without a profit as long as you are big enough. I think in this new reform, Biotech Companies it is huge value that has been created in that space. China is a Massive Health care market. I think we want to make sure that we open for business for companies that are in the middle of clinical trials, but not get but not yet receiving approval. Rishaad that was one of the three you were talking about. Charles second is due class shares. The third is for secondary listings for companies that are already listed in the u. S. Or u. K. Rishaad lets move to how they how this should improve your ipo pipeline. Be talking this Time Next Year that you have doubled people coming to the board . Charles we are looking much broader than what is the ipo market. Next year is going to be transformative and fundamentally different from what we have seen before. That is great. But in the end, we are trying to connect the market. We are trying to connect our market, the Global Market with chinas market. We are also connecting chinese investors to global product. If we are able to introduce a new Economy Company then our market will be fundamentally different. Coupled with the money coming from the north and the south connect. And with the new economy, i think hong kong will be an explosive growth story as far as a financial market. Rishaad if people want to list, they have to be innovative part , of the new economy. How do you define this . Im sure it is a very complicated process but in a nutshell . Charles you have to be at least new economy, meaning the technology, intellectual properties and whatever else. That itself is not enough. We are going to publish a guidance letter, essentially trying to figure out why you particularly have to have this kind of governance structure. I think our new economy as a definition is a necessary condition, but there are a lot of other factors we will be looking at. Emily that was charles li, hk exchanges and clearing chief executive. Staying in asia, despite a slowing economy, chinas travel industry continues to embrace eruptive growth in the last couple of years. James liang expects the company also to carry on its robust growth. James as chinas currency becomes stabilized and china continues to run a large trade surplus, i think travel will continue to grow robustly in the near future. China, the current statistics, is only less than 5 of people have a passport, compared to the u. S. Where 20 of the people have a passport. A long way to go. Tom how do you characterize the competition you are seeing domestically . Where there whether that is in alibaba backed company or others, how do you characterize that as they are starting to carve out more market share now . James still a very big market. All parts of the market are growing very rapidly. Focusing on food delivery and the lowend travel market has been doing well. Our highend businesses are growing very nicely too. We actually think it is higher margin. Longterm wise, this has more potential. We think we are in a good position. Tom tencent and alibaba seems to be carving out space across a number of sectors. How does that affect how you navigate the business . James i think there are some very big players. The number of transactions they generate is many times bigger than ctrip. In terms of value generated, ctrip is one of the biggest up there. Travel will continue to be growing faster than the rest of the economy. We will represent a higher share of the overall market. Ctrip also has a very Good Opportunity to succeed with nonchinese markets. I think in the long run we will be one of the big players. We dont see the travel market close to have the scale of what ctrip has now. Tom would you consider further acquisitions in 2018 . James we are always actively looking for good fit for technology and market focus. Anything that is complementary to our Technology Offerings and also market presence in different parts of the world, yeah, we are always very interested in. Tom what kind of technology are you looking for and what regions are you expecting to present opportunities . James last year we invested in sky scanner, air ticketing technology, and the consumer brand. In the u. K. , we invested in travel fusion. Thats also a Technology Program for Lowcost Airline products. Those are the kinds of things we are looking for air travel Technology Partners and Consumer Brands in markets where we still dont have a lot of a presence yet. Emily that was ctrip founder and chairman james liang with tom mackenzie. Coming up, twitter shares soar. Wall street gives the company its fifth stock upgrade in the last two months. We take a look at the latest vote of confidence. This is bloomberg. Emily a stock we are watching , twitter shares surged 11 , hitting its highest intraday price since fall of 2016. A jpmorgan analyst raised the stock to overweight and a high 27. This is the fifth upgrade for twitter since late october. Shares surged on betterthanexpected results. Ubs, argus and citi have recently upgraded the stock. Twitter has begun enforcing stricter policies on abusive content. The new guidelines were first announced one month ago but now put into place. Twitter is prohibiting users from abusing or threatening others through their profiles or usernames. That includes a decision to keep the president s retweet of a video that contains violent antimuslim sentiment. The group that sent out the original tweet is now banned from twitter. Earlier this year, we sat down with twitter Ceo Anthony Noto and asked him about president trumps impact on the platform. Anthony we cannot causally say whether the increased focus on politics is driving the the growth because we dont have measures. We did analyze correlate of factors. There was an increase in the new resurrected users and the percentage of accounts they followed for news and politics. Beyond that, it is hard to measure specific impact. Emily is there any way to give us a little more color on whether its the president using the platform itself or the followers . Anthony i think the product on product and marketing has been the consistent trend for a solution. Twitter benefits when influential people in the world use our platform to tell what is happening. We encourage that. We love the discussion. We love the conversation that is happening. The more it happens, the better we are at showing you what is happening in the world and what is being talked about. We would love it at every world leader used it as a mechanism to talk to their constituents. Emily you are kind of like the soul of twitter right now. We know you have been working very hard. Twitter is navigating some rough patches. How would you describe how you are approaching your job as coo and cfo . And sort of explain this idea of being the soul of the company. Anthony i love working with jack and the rest of the leadership team. We approach running the company as a team that is focused on specific priorities and we divide and conquer. At the end of the day, we divide up the priorities among our team and what is most important to accomplish. I would not want to work with anyone else other than this team, including jack. Hes an inspiration. No rehearsals, no script. He just delivered the heart and soul of what twitter is. I live and breathe every day to help that vision come to life because that is what makes twitter so special. He could not be a better partner in we could not be a better team. Emily what is it like to work with the guy running another company . Anthony it can be daunting and inspiring. Jack is there for 100 of the decisions. He has license to make decisions that none of us could ever make. It is a powerful relationship to have at the company i think it , has made us better in the last two years he has been at the helm. Emily we talk a lot about the potential drawbacks of running two companies. Are there any benefits . Anthony the media wants to ask us about having dual roles. I dont ever think about it until the media asks me. If i have something to talk to jack about, we talk about it. If we have something to discuss as a team, we discuss as a team. Emily twitter hired banks last fall. What is the latest . Anthony the latest is we have not commented on that situation. The board understands its fiduciary duty and supports the strategy we have and the plan we have in place and the great progress we are delivering with four consecutive quarters of daily active user growth. I have been around the internet sector since 1998 and i have seen a lot of Companies Come and go. I can count on one hand the number of come number of companies that saw deacceleration that twitter did in 2015 and reaccelerate in 2016 is an accomplishment and i cannot be prouder of our team and the rest of the employees that make it happen every day at twitter. We have a lot to do. We are still at the beginning of the beginning. We have not come close to accomplishing the longterm goals we have. We are committed to that. We will recognize the missteps we make and dont make it a second time. Emily do you see twitter as an independent company . Anthony i see twitter as a company that can have the largest impact in the world both economically and otherwise. Emily a year from now, where is twitter . What is the fruit of you pounding the pavement and all of these deals, what do we see . Anthony we will see consistent execution. Twitter is the best at showing what is happening in the world and what is being talked about. We keep investing in being faster in breaking news, more comprehensive selection, more conversation, and personalize in a bigger way. If we invest in those four things consistently, we will continue to have the strongest ability to deliver what is happening in the world. That will drive more user growth and more engagement and revenue. Emily if facebook and google have the biggest part of the pie now, how much will twitter have . In a year, two years . Anthony twitter does not have big a piece of the pie that we hope to have some day, but the onus is on us and that will bring the value and revenue to the shareholders. Emily that was anthony noto back in may. We should note bloomberg lp operates a global breaking news network on twitter. That does it for this edition of bloomberg technology. That is all for now. This is bloomberg. Is this a phone . Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Bloombergs new European Headquarters in london. Matt i am matt miller from berlin. These are todays top stories. Backing the bill, senator Susan Collins says she will support tax reform giving republicans the votes they need to pass legislation. Hardline, keys rules out a special deal for british banking. Anna the concerning the currency jumps. Track to become the countrys next leader