Well tell you why his job is harder than he may think. Carol plus, our conversation with a ceo. Her traits bets are affecting his company. Jason but we begin with joel weber. Lets start with the International Cover. Its a look about the bond market, debt, whats going on . Joel chief money has been around for a decade now and it is having a profound effect in the Global Economy. We look at the ecb this week and negative rates, negative rates has been an untested policy tool that japan was using. And now its starting to spread. It was going to go away, and now its back almost, and its just a profound idea that a bondholder would invest in something that, if you hold that for duration, youre going to lose money. It goes against the principles of investing. This is investing 101. Carol who wouldve thought we would be in this environment . Here we are. And it affects everything. Joel the idea of low rates was to spur growth. Thats not happened. And this problem just keeps getting worse and worse and worse and now, to use Mario Draghis words, things look worse and worse. Jason and we heard from the ecb this week. Close to home, the domestic cover has to do with 2020. Elizabeth warren, what a profile. Carol life of the party. Joel life of the party. Josh green, one of the best political writers there is. This is a multidimensional story about was with warren and what shes doing for the democrats. She learned a few things from trump. One was that the party came to heim. Shes going to make bolder ideas for the left and have the party come to her. Carol its very revealing. Josh covered stuff i didnt know. Joel its an amazing story because hes an amazing political reporter. Jason it starts in an unlikely place, davos. Joel the World Economic summit. Is there anything you might like to talk about . She came up with a wealth tax, and then decided she didnt want to do it. And somebody else got a lot of credit for. When you think about elizabeth warren, its sort of like she had this start, and now its is she even going to make it out of the gate . Ever since then, shes kind of caught fire and you keep watching her put together her bold ideas. Carol i love this story. Jason two great covers. Thank you so much. Well have more coming up. But we begin with another name. That is Boris Johnson. Carol the new british Prime Minister vowing to negotiate a deal before the u. K. Is due to leave the block. Rob is in london. He joins us now. So many challenges. Feels like getting to be premised or is the easy part. Now he has to get out of brexit and the clock is ticking. Lets talk about that. Rob yes, so he takes over auspicious league with 100 days before they are set to leave the european union. He spent three years offstage shouting abuse at theresa may and saying he can do it better. And now, finally, he gets his chance to show us. Take us back a little bit because Boris Johnson, probably through our audience, one of the bestknown politicians of the last few years, in part because he is largerthanlife. Where does this guy come from . Rob well, funny enough, he comes from new york. He is this extraordinary figure and hes slightly a self invented figure. He was a journalist. He was a journalist in the times newspaper, where he was fired for making up a story, a quote. And then he was given a job on the telegraph newspaper, where they were more relaxed about his slightly idiosyncratic approach to story generations. He parlayed that into a political career. And for a long time, people thought he was very entertaining. Hes very funny. And he has got this amazing charisma and people just laugh at things he says. People seem to want to like him. I spent the last few weeks following him around trying to nail what it is. You cant quite get to the bottom of it but hes got this amazing charisma. People said thats very well, but british people want a serious Prime Minister. They want a grownup and critics say he is fundamentally a clown. And his fans so you wait. You wait. Hell do it. And for a long time we thought he wont. But now he has. Isol whats interesting Boris Johnson is known as much for his setbacks as for his successes, which brings us to the big question. If hes the man who can get brexit done. Rob yes, will he has had a lot of things go wrong. He does keep getting fired from jobs. Quality, heo this has this charmed life. A school of thought that says what he will do is perhaps he will go back to brussels. He will get minor changes to the deal theresa may negotiated. Johnsona deal worth organized rebellion Boris Johnson organized rebelling against. There is a school of thought is that he will get minor changes and bring it back. And because hes offering it, parliament will vote for it. And that might be true. And if you were theresa may, you might sit here and think this is the ultimate injustice, that the man who destroyed my career over the steel might then succeed in selling my deal. On the other hand, if you were theresa may, thank goodness somebody mightve finally resolved brexit. One school of thought says thats what hell do. Jason rob, thank you so much. Carol coming up next, more on our cover story. Elizabeth warren life of the party. Jason her pursuit to make america liberal again. Carol this is Bloomberg Businessweek. Carol welcome back to Bloomberg Businessweek. Im carol massar. Jason im jason kelly. Join carol and me every day on the radio from 2 00 to 5 00 p. M. , wall street time. And get there via podcast at itunes, soundcloud, or bloomberg. Com. Carol or sign up online and on our mobile app. Ans weeks cover story, indepth profile on elizabeth warren. She has tried to push a liberal take over of the democratic party, first as an academic, then as a senator, and now as a president ial candidate. Jason we caught up with josh green, one of the most watched political journalists around. Shes done playing it safe. The shes back, yeah, hottest candidate probably right now in the democratic field. Shes probably been resurrected from her earlier lows. If you read woes. If you read poll numbers, shes the candidate people are talking about. You see it in her steady rise through the polls. Carol he spent time with her. So what we see on camera versus spending time with her one on one, how did you feel . What did you see . Josh shes, you know, she knows what she believes in, and that is the same on the record as of the record. Shes a little blunter and harsher in her descriptions, but the basic direction is still the same. Her theory all along has been the u. S. Economy is essentially captured and corrupted by big business, by wall street, now by the trumpet ministration and republicans, and the only thing that is going to get democrats elected isot thisilquetoast incrementalism, but big, bold radical change. Thats what shes introduced. And she has shaped the race more than any other candidate. If you want to be competitive, you have to have big plans, whether its medical or for all, or the Green New Deal medicare for all, the green new tax. The wealth these are deals no toptier candidate would have dared to introduce a cycle ago. It shows how much things have changed. Jason i want to talk about some of those. The first, one of the interesting thing but first, one of the interesting thing is you take us back to the beginning. And a president ial campaign is about someones narrative. Shes got a pretty competitive compelling one. Josh she does. There are two narratives. There is the narrative she chooses to present, about the lower middle class, oklahoma schoolgirl, who kind of succeeded and triumphed, and became harvard professor, senator. All of that is true. The story i try to tell is a different one. Her political education and how she emerged as a serious power player. I submit in the piece that has been the key to her success. I wrote a book about congress 10 years ago and i used to write a column for the boston globe. Ive known warren and talk to her on and off the record, going back to when she was on the oversight board, terrorizing tim geithner and senior figures in the Obama Administration after the financial crisis. Jason that was the moment she came into herself. It felt, at least nationally. Josh right. She had been a fairly renowned bankruptcy professor, not much of a public figure. One of the things i talk about in the piece, warrant has always had a gift for communicating. It was true when she was a law professor, got her noticed by dr. Phil before anybody heard of her. That brought her to the attention of top democrats, who began bringing her into testify because she was a compelling person. That landed her the oversight gig at the bank bailout. That is the moment you see her developing her signature style of staging these big, aggressive, highprofile confrontations with senior figures, almost always men, and somehow getting the best of them in a way that galvanizes grassroots liberal support. Thats what built up her independent base, got her elected to the u. S. Senator, and really been the key to her revival after her early stumble. Josh what is the next catalytic moment when it comes to warren and the democratic field . The debate coming up in the next week . Shes done well in that venue so far. What does she need to really least,r in this, at front runner pack status . Josh she needs to figure out how to grow her support. Shes in the toptier support, but no one has broken out yet. Kamala harris is in the toptier. Joe biden has come down, but he is still in the toptier. Warren needs to broaden her support. One is among bluecollar workers who vote democrat, who are populist. Bernie sanders is currently winning those waters. The other africanamericans are hugely important. A lot of them have a favorable view, but dont yet support her. Shes got to appeal to them and keep them from going to candidates like kamala harris, joe biden. I think thats going to be her mission. Carol too early to call who might lock up the nomination . Josh always too early. Ask me again next may and i might venture a guess. Carol you can hear more from josh green in this weeks podcast. The ipo market and why shes expecting a healthy amount of companies to go public this fall. Carol we also sat down with hilton ceo on how trade spats are affecting his company. This is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. Im jason kelly. Carol im carol massar. You can also listen to us on the radio and in new york, 106. 1 in boston. Area, am 960 in the bay london on dab digital, and bloomberg on the business app. Carol we talked about the nasdaq ceo ongoing public versus staying private. The health of the ipo market, and the Fastest Growing part of their business. Today, the trading business, our trading revenue is less than 25 of our overall revenue. Our recurring Revenue Streams 7075 . That can come from Data Analytics and market technology. Our Technology Business is almost whittling. We can provide that to other we can provide that technology to other markets in very different spaces, not just the traditional capital markets. And it is the fastestgrowing part of the business. Carol does it become the biggest part of your business . Adena i would love to think of that as an opportunity for us, but we have other great parts, as well. Carol i think i saw a data point about 80 of new issues ended up on the nasdaq. Tell us about the ipo market, how important that is to the nasdaq, and what you see in terms of activity. Adena the ipos or Corporate Services business is important to us. Were kind of combined. We have four key businesses, and thats one. Weve had a great pipeline of Companies Going public. The performance of the companies are up over 20 this year. We do have an 80 win rate so far this year. Were excited about that. And weve had Great Companies choose to come to nasdaq, crowd stripe, real real, news media. Theres some really Great Companies that have been able to tap the Public Markets this year, and we do see a healthy pipeline going into the fall. Everything is subject to market conditions, but if the markets remain inviting, well continue to see Great Companies in the fall. Jason and as you look across that 80 win rate, can you generalize whats getting you the win . We tended towell do very well in health care and financial services. A lot of community banks, market structure, some Tech Companies go public on nasdaq. Health care and biotech. We win 97 of bioTech Companies, and thats been a very active market in terms of finding great investor interest around health care. And in the technology space, we compete every day with our competitor down the street, but we do very well in terms of bringing Amazing Companies to nasdaq. Carol we talk so often about private equity space. How much money is out there to fund Startup Companies that enables them to stay private so much longer . How is that impacting you guys . What are you seeing . Adena i do agree there is a lot of private money at their and companies have a lot of choice. They can choose to stay private longer and they can tap more investors than ever before in the private space. We have the nasdaq private markets that helps Companies Manage money in a private context. But we much rather see companies tap the public market. The reason is, in the private markets, its a concentrated Investor Base that focuses on the top of the economic scale, whereas if you bring companies in the public market, youre bringing every person in the world a chance to be a part of that. Well over 50 of the population of the notice dates are invested directly or indirectly. So you do want more companies to come out and allow those hardworking people to be able to invest in Growth Companies while theyre still growing. [no audio] so we work with of the companies to make sure we manage their committed liquidity. Carol you can hear more of our conversation over the next couple of weeks. We talk to. Her about 70 different things. Jason a lot of cool stuff, including what she might be doing if she wasnt running one of the most important exchanges. From that Global Exchange to a Global Hospitality brand, and another exclusive. We sat down with hilton ceo. Carol he knew he wanted to work in the hotel business. Acting on his dads advice to understand a business from behind the walls, his first job was in the Engineering Department of the capital holiday in, plunging toilets. Jason so glamorous. He joined hilton in 2007, right after his big private equity by up. Since then, hes moved the Company Headquarters from Beverly Hills to virginia, and added 86 more rooms globally. Here is our exclusive conversation. Were not seeing dramatic impact on the business. We came in thinking we would have a reasonable year from a growth view. In the world and the u. S. Would be a little lighter than it was last year, but still positive and reasonably good. And i think when we finish the year, thats what were going to see. When i look at the indicators in our business, both advanced indicators, group business, or shortterm indicators, theyre all holding up reasonably well. The nice thing about our model is the bulk of our growth is coming from new unit growth rather than samestore growth. While im reasonably optimistic about the economy, broadly, ending the year in a pretty good place, our new unit growth, which is super resilient, is really good. Were experiencing the largest net unit growth weve ever experienced, 7580 of our growth. We have tons of visibility. When you look at our overall business, such a huge driver of growth these e longer, the, though, these traits bets go on, then trade spats go on, do you start to get nervous . Im notchris yeah, saying we dont watch this closely. Nobody talks about anything but trade war is now. Its all about china. Yeah, i do think that markets dont like uncertainty, so this provides us a level of uncertainty thats not healthy for the markets, probably not as healthy as you like for businesses in terms of longerterm decisionmaking, and so we watch it carefully. Im certainly very hopeful that, heads are going to prevail. Jason 12 years ago, this company, i think is fair to say, was not focused. Its based in Beverly Hills. Its essentially a Holding Company. Its got several different businesses. How, in short, did you get it focused . Chris i can be very loquacious about this. Id say its really simple. This company did not have a global, Cohesive Strategy of any sort. As you point out, it was sort of a Holding Company, for five or Six Companies put together by merger and acquisition and never integrated. There was no common strategy. I would argue no real strategy, let alone common strategy. And the culture, 100 years ago this year, had really lost its way. The culture had become super complacent. The sideload nature of the Holding Company approach, you didnt really have a common culture. Fastforward to me, what we did was keep it simple. We focused on developing an unbelievable strategy to sort of get this going in the right direction. We were interrupted a bit by the great recession, but we used that as a means to really focus our efforts. We went about building a worldclass culture. Carol taking you out of Beverly Hills, how did that change things . Adena why did we do it chris why did we do it . Beverly hills is expensive. There was a whole host of reasons we did it. The cost was a reason. Time zone was a reason, access to airports. But let me tell you the real reason. It was a bout a cultural reboot. John, still our chairman, i said we have a great plan. We have a great strategy. But the core of executing that strategy is to rebuild the culture. Im not saying i cant do it here. Im saying its going to take a long, long time. Gravity is a powerful thing. Weve been there 60 years. Decades of complacency. Its going to be really hard. Carol you can find more of that interview on this weeks business week talks podcast. Jason still ahead, no escape from low rates. Its the finance section takeover. Carol how a decade of cheap money is morphing the entire world. This is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. Carol still ahead, the apple does not far fall far from the tree. Jason and raising millions to legalize mdma. Birminghamake us to burning man. Carol how some brave entrepreneurs are embracing the return of the seas fiercest predator. Jason and in the finance section, a takeover all about Interest Rates. Setting ratesanks below zero and investors buying at high prices, there is a huge pile paying a negative yield. Carol it is important because it affects all of us. If you have questions about how we got here, then check out the story. The bonds that your money. Eat your money. This is a problem that has really ratcheted up as the signs of the Global Economy is slowing and Central Banks are going in the same direction. That is to cut rates and introduce more easing. Carol it is amazing. If you use the function on the bloomberg lookup 10year gilts, we are not talking about french countries yields, we are talking about developed countries. It is this big black old right in the middle of the worlds major bond markets. In the real world, it means the countries like germany are being paid to borrow money. Which is just completely strange. It is turning the world of debt and Interest Rates on its head. Carol why would i go and buy sovereign debt where i am not going to make money . I am paying the country. Why would i do it . Explain why investors still do it. Several reasons. Primarily, the bonds which it affects, although this is rapidly changing, is the most safe and liquid bond. If you are protecting your portfolios typically these are the bonds you want to own. And if there are risks such as a trade war or potential conflict with iran, then these are the assets you want to be holding. So if people are flocking in to buy, you can still make a profit. Furthermore, you cannot get that much money putting it in the bank. As you are getting slightly more than the european Central Banks, then there is still some scope for appreciation. That might be a few of the reasons why you want to hold these assets. Jason play it out for us. You mentioned germany and you have got people, including the incoming head of the ecb christine lagarde, talking about potential solutions for germany. , everybodyhorizon could become the next japan. Tell us about that. , people arement saying europe is going the way of japan. Mean a world of permanently low inflation, aging populations. This is something were starting to see in europe. If you have got an aging population, you have less working age people putting money into pensions. It means pensions are struggling to make money. In germany and in japan, this is a real problem. Christine lagarde, the next Central Bank President , she has got a background from the ims. Imf. She might have other solutions, such as fiscal spending. Central banks are bearing a load of the strain and it is not really working. Now that we know how low rates became a reality, we have another story on how cheap money is changing everything. It is not going away. Carol it certainly isnt. Rates to about zero things started turning around. They started lifting rates and tightening policy. Without Interest Rates were getting hired, we are getting growth. Back to normal. To be were warning abreast of the 10 year treasury note. It could go up to 5 . At one point, it was like 1 and change. , the longest recovery on record, albeit very slow, and your treasury yields at 2 . The fed only tightened up to this 2. 5 range. And now they are about to reverse course. So we did not get quite enough growth. We got a bit after the tax cuts, but it did not last that long. We have not had a lot of inflation. So theres not a lot of risk in the bond market. And the bond market is a gauge on where the economy and inflation is going. And nobody sees it going too far too fast. Jason just as a reminder, Interest Rates in form so many of the decisions we make. , that is, as companies where everybody is looking to understand what to do next and how healthy the economy is. Is the kind of thing that everybody knows. Interest rates, they are very informative if you think about what it is telling you. And Interest Rate is based on economic growth, where might inflation be. You and i all care about growth. Inflation, how much does it cost . All of those gauges are embedded in Interest Rates. Interest rates start with just kind of a base rate. And then you have bits from their. There. Maybe we have more risk if we are holding this money with the treasury department. But it is really a true gauge. The stock market usually jumps off of that a little bit. Companies do better when it is easier to get cheap money. It filters through to everything, even though it is not the flashy thing. Carol the people you talked to and the feedback, two people expected to continue . Pimco, they said that rates can go lower. We were talking, i know you talked to other reporters about the 13 trillion in negative yield and debt, he was saying he could see a scenario where even government that yields of the u. S. Could go negative, which would be pretty mindbending. But definitely, yields can go lower. He said, of course, there is risk. There are a lot of things that say this is not ending now. Next, getting to the core of apples succession planning. The man the many think will be the next ceo. More of a tim cook than a c a steve jobs. Carol and psychedelics, where better to look at them burning man . Jason this is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. Carol i am carol massar. Join us every day on the radio from 2 p. M. To 5 p. M. You can also catch up on our daily show on itunes, soundcloud, and bloomberg. Com. Jason and find is online. Us online. Apples heir apparent, he is much more like the current ceo van steve jobs than steve jobs. He became the second most important person after it was announced dan ives would leave the company. At these major Tech Companies, apple included, there are two types of succession planning. There is what happens if something happens to the ceo tomorrow and then there is the longterm replacement succeeds the ceo if he retires at a normal age. Jeff williams is about three years younger and fits the mold for both. If something were to happen to tim cook, everyone we talked to says Jeff Williams would be able to slide in without the company missing a beat. In terms of longterm succession planning, it depends how much around. Im cook will be if you will be the ceo for the next five or seven years, he is almost 60. Jeff williams would be able to slide in. Around. So he is the heir apparent. The nexty likely to ceo depending on what happens to tim cook, not that there is any reason for him to step down in the imminent future. But longterm, i dont think that person is even at apple right now. Carol talk to us about mr. Williams. What kind of person is he . What has been his experience inside the company . The recurring theme is that jeff is very modest. Someone called him the most modest apple executive. Some of the higher brass who say he hashere driven stock options, they drive bugattis, Jeff Williams is not like that. In meetings, he can be demanding , but at times, he leverages his lieutenants to the barking. The neat thing is that he is almost purely an operations person but he does have product inside. He has shepherded the apple watched the market. Product, is a fine perhaps a very good project. But things were not so clean at back in in 2014 2014 when they had several production issues. But his team has worked out the kinks. , if he question arises is the one who shepherded the apple watch, is he the one shepherd nextgeneration iphones and other products . The answer has clearly been yes. Carol now to a project funded by Silicon Valley that might surprise you or maybe not, legalizing mdma. Jason it is in the features section and is a profile of maps , the leading organization promoting the use of psychedelics. We followed the founder to his most of most important fundraising event of the year among burning man year, burning man. Carol here is sarah mcbride. His 60s and has spent his whole career making drugs more accepted and legalized. In part, because he believes they can be helpful in treating a number of elements, including people with ptsd. He thinks a really good way to treat people who have come back orm wars or policeman victims of Violent Crime is with a combination of mdma, which people know as ecstasy, and talk therapy. And he has all the studies that prove how effective it is and he has gotten the fda on board. He has gone through phase one trials and now is in the middle of the phase three trials. All bankrolled by his nonprofit, called mavs. It is very expensive and he finds a lot of investors at burning man. The experiment station, drug taking, and nakedness, he was essentially looking for money. How successful was he . It is a fine line. Is aically, burning man cashless society, not a commercial society. So what he does is he goes to burning man. She knows a lot of rich, influential people. He hangs out with them, he meets their friends. A large number of them are in the tech community. And he kind of shoe loses meets everybody. And when he gets back to civilization, he made you mail people and call them. Say, remember, we were talking about my nonprofit. He raises millions of dollars that way. But no actual donations come in at burning man per se. But that is where he makes all the connections he needs. Burning man is where he met all kinds of people who have since gone on to give them cash. For example, early facebook employees who have given him donations. Developers, a board member of his who founded a Big Software Company gave him his first large donation, 5 million. , now on his board. And just other random, interested people. Like david broner who runs that so company is also on his board. He camped at his camp at burning man and kind of makes that his home base. He goes around with people from google, the founders of burning man, everyone kind of knows who and is interested in the work he is doing, even if they dont donate. And everybody kind of wants to meet him. He was basically mobbed everywhere he went. Up, women only motorcycle rallies are gaining speed. We tagged along to a tour in colorado to profile the growing more sports segment motor sports segment. Jason and cashing in on the return of the great white shark. This is Bloomberg Businessweek. Carol welcome back to Bloomberg Businessweek. Jason you can also listen to us on the radio on sirius xm channel 119, and on a. M. 1130 in new york, 106. 1 in boston, 99. 1 f. M. In washington, d. C. Carol a. M. 960 in the bay area, london on dab digital, and through the Bloomberg Business app. Weeksner in this pursuits section, women only motorcycle rallies. Jason Hannah Elliott joined the wild gypsy tour in colorado, profiling the culture of this growing motorsports segment. As the big guys and motorcycles are figuring themselves out, this spot of women writers riders is growing. And one of the things we have seen is this group of women motorcycle riders forming together. Joining writing groups where they will do riding groups where they will do campouts and festivals, its great. Carol somewhere, you talk about men and women writing differently riding dif ferently. This is just a generalization. A lot of women i speak with say that they like writing with women as we dont want to die and we dont have anything to prove. Somehow, it is easier for them to ride with other women because they dont have to prove anything. It is by going at your own pace with your own style, doing your own thing with likeminded people. Jason as you point out, a lot of the big companies, harley included, facing a bit of an existential crisis, to say the least. We heard about that with their earnings. They are paying close attention to this. It is interesting. The most wellknown group is called daves babes ride out. They have campouts and concerts, it is really affirming and inspirational. Harley davidson is one of the supporters. They give money, of course, and support at the events. Harley realize that this is a potential Growth Market for them. It is a way to reach new and younger riders, minorities, everything they need. Because their court right or is a 50yearold white guy core rider is a 50yearold white guy. The livewire, and electric motorcycle, you wrote that. Synthesize what is going on with this trend. This is an example of Harley Davidson china to come up with a way to be modern and relevant, and electric bike an electric bike. I did write it, it feels tangible, beefy, a powerful, strong but. Bike. This is a way of offering new things that might attract new buyers. It is silent, it has a lot less maintenance. It does not rumble and vibrate, it is lighter. It is easier to get on and off. Will it save Harley Davidson singlehandedly . No. But it is meant to attract new writers riders like women. Sectionheck out the new , like secrets from the stage of moulin rouge, the Broadway Musical adapted from that famous film. Carol those sets are amazing. Lets finish up with a story on sharp towards him. An increase sharp towards him shark tourism. Jason here is our editor who took a shark tour and it is bloody good business. Half houra two and a tour off of chatham, massachusetts, and within 10 minutes, i saw my first shark. The whole time, we saw dozens. Carol what was that like . It was thrilling and unsettling. We had one that felt like it almost jumped on the boat. The change direction and splashed us all. The most memorable moment, we saw a shark kill a great seal, eat it up and bring us towards our boat it towards our boat. Jason and people are paying for this but this is big business. Talk about how much it costs. Cost 2500uz cruise dollars for a maximum of five people. Atlantico from the conservancy. So it is a philanthropic enterprise and also a business. That is part of a whole bunch of ways that stores are trying to capitalize. They are selling tshirts that chickenls taste like and all sorts of fun stuff like that. There is a real balance, because people are afraid of sharks, and they should be. Notl here it is, we are talking australia, we are talking cape cod. It is on the rise but you have to tread delicately. You have an increase in shark sightings and, unfortunately, some folks who have lost their lives as a result of these accidents. How are entrepreneurs in dealing with us . With this . Carefully. Last september was the first fatality in massachusetts since the 1930s. That did change the tone. The stakes got pretty high. The cape is putting up these very frightening signs. They are trying to keep people out of the water. On one hand, trying to keep people safe. On the other hand, sharks and seals are protected. Theres really nothing for now they can do. So i think theyre trying to make the most of it it. Carol Bloomberg Businessweek is available on newsstands now. Jason and our mobile app. Carol and you can find more stories, including a photo essay of the streets of san juan and the protests that regarded resulted in the resignation of the government. Jason and an article on how heightened tensions in the gulf have not caused crude tensions despite. Why the numbers to spike. Why the numbers are stacked. Carol i love the International Cover story. We talk about negative rates, here is this environment we are in. It is not fringe nations, we are talking developed nations. What are the broad implications and do we stay here . I think it is a must read. Jason both for economists and noneconomists alike. Carol yours . Jason josh green, i say and every time he writes something but this is so timely. Elizabeth warren six months ago, had a rough start, but he demonstrates that she is in the center of the debate right now and really pushing the democratic party. Carol it is a great read. And you can find more stories over the weekend. Jason and check out our daily podcast. Carol more Bloomberg Television starts now. Were the slowskys. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Emily im emily chang and this is the best of Bloomberg Technology were we bring you all of our top interviews from the week. Alphabets, and facebook all release secondquarter report cards, we break down the results. Facebook results are overshadowed by a new antitrust investigation opened into the new ad and mobile business. This after facebook pa