Agreement with the ftc for violating childrens privacy on youtube. Critics say its not enough. And slack john. Stock shares plunge after the companys first earnings reports since its trading debut. At issue, Service Problems and competition from microsoft. This week china and the , u. S. Announce that facetoface negotiations aimed at ending their tariff war will be held in washington next month. Skepticism on both sides for true progress remains high. This, of course, follows president trumps 15 tariff that became a reality last sunday. Dragging apple further into the trade war. While its flagship iphone is spared, some key products are not namely, apples pods, apple , watch. A Senior Research analyst joined us to discuss on before the tuesday latest round of talks were announced. Apple, like you pointed out, is kind of the clear one. Any company that has manufacturing in china is there but what is maybe potentially more interesting than that is that its starting to spill over into other countries. Other industries we had assumed were more resilient or tariff proof. For example, autodesk is an example. An Enterprise Software company, everyone thinks about it as being very defensive, but because its an Industrial Software company they are actually starting to see a softening outlook as a result of kind of the ongoing trade war. Now that the tariffs have kicked in and are a reality, not just a negotiating tactic, i think well see a lot of that go through and have people looking at individual companies and say, is this going to and say is this going to , impact, not necessarily the obvious ones like the apples or semiconductors. What are those Second Derivative plays . Anything in my mind related to design and manufacturing, would be that, so that would involve services. That would involve anyone who is doing outsourcing related that. That would also involve Software Companies like an autodesk, or others that have businesses in that sort of space. That may not be obvious on first glance. You mentioned individual companies and i wonder if its as simple as qualcomm by sales force or something more idiosyncratic given the trade tensions going on . Your second point is absolutely correct. You have to be specific about the individual companies, not just the sector. Thats why i used software as an example. Its thought of as being a lot more defensive but it turns out within software there are some cracks. If i were to ask you about zoom video, for instance, off the top of your head that wouldnt come to mind as an obvious impact, but a lot of Product Development comes out of china and thats how they have been able to be so profitable. Do these terrorists chip away at the advantage they have on the r and d side so its very much a company specific, not necessarily sector. Weve been within trade fights, lets recall march 2018. We are 18 months into it. Have companies been pressured on the margin side, on the bottom line . You mentioned maybe they had cut back on r and d but tech spending still feels a strong. Absolutely. Are you seeing margin pressure show up lately . Not really. Tech spending, the Business Model tends to be very strong. And outside of an actual macroevent that impacts the economy and impacts overall business spending i dont see that slowing down. If i think about what sector i would want to be invested in and have more peacefulness about some of these factors like break it like brexit and Tariffs Technology , specifically, software is the place to be right now. Sticking with tariffs, some are saying investors are looking to software as opposed to hardware as trade tensions escalate. Idc president crawford says tariffs are having less impact on it spending than was originally projected. We spoke to him on tuesday for more details. Tech spending has not been that significantly affected as a function of a lot of tariff talk. A lot of that has to do with kind of where we were in the tech cycle. Tech is infused into the economy. Its infused in our work lives, its infused in the infrastructure and how we entertain ourselves. There was a huge data center buildout. Storage spending was really high. If you look at Infrastructure Spending last year, it was over 20 . If we went back three years and said we thought fort wayne have chuck were you would be 20 as a buildout of the cloud no one would have taken it seriously. That really muted the impact. Last year we saw 9 growth overall which is very high. Where are we in that cycle now . As you look forward to the rest of 2019 or 2020, are we in that cycle where we can still start to see tech spending or are we starting to see some uncertainty start to play in . Its interesting, were starting to see that shift now. Were starting to see where customers are starting to take a pause. Starting to lock up and say, look, we cant run our business by these little bits of information that come out. We have to really understand and be able to understand the long term impact of imposed tariffs Going Forward. So what weve seen is that were starting to see a deceleration. And were seeing a deceleration in spending overall but its primarily that we are seeing customers take a pause. We are also starting to see that the infrastructure buildout, companies are starting to take a step back from that and starting to slow down there overall spending. So our expectation for spending this year is somewhere around about between 4 and 5 for overall tech spending. When you talk about customers there is hardware and software. It appears software has been relatively insulated compared to , hardware. Is that accurate . Absolutely. We have to remember as a Service Economy what the long term impact of a Service Economy impacts are much more muted in terms of overall spending. Companies dont necessarily move away from their salesforce. Com subscription or work day subscription over time but you can definitely say as employees, well make you have your p. C. s for five years instead of four. Well push our Service Structure out another year. We are seeing that hardware is the first stuff that gets muted and smartphones is something that really gets muted because its just not that hard for a consumer to say im going to wait another year before i buy another smartphone. That was crawford del prete. Coming up, 170 million, thats what google will have to pay as part of an agreement with the ftc for violating childrens privacy on youtube. But does that really make a dent for the tech behemoth . You can listen to us on the Bloomberg App and on sirius xm. This is bloomberg. Apple is returning to the bond market after an absence of almost two years. It borrowed 7 billion. Apple is joining a slew of companies that are rushing to the Investment Grade market after the labor day holiday. The company has more than 200 billion in cash and securities on its books. Apple is developing in screen sinker print technology for its iphones. Bloomberg has learned the feature could be available on next years phones. Apple has had fingerprint scanning since 2013 but its integrated in the iphones home button. The new technology will allow users to scan fingerprints on a large portion of the display and it would work for the current face i. D. System. And another fine for google. This time youtube has agreed to pay a record 170 million to settle claims that it violated childrens privacy laws. Most of the money will go to the federal trade commission. 34 million will go to new york state. Youtube has been accused of failing to obtain parental consent in collecting data on kids under 13. We spoke with the Vice President of net choice and bloomberg technologys ben on wednesday to discuss. Net choice is a tech lobbying group that counts google as a member. Its certainly easy for google to pay it. Its a drop in the bucket compared to their annual revenue. It is, however, a very large fine by the standards of childrens privacy. 30 times larger than the previous record which came in february with tictoc, similar issues, collecting email addresses and names without proper consent. You have a lot of people saying this isnt going to make a dent in googles Business Practices but its certainly setting a record for this particular space. So, carl, taking flip side, give us your breakdown. What do you make of the fine and the ruling to limit some of the ads and commenting on childrens videos . You know, thanks for asking. The fine is 30 times larger lynn any prior fine under, larger than any other fine. That the ftc was able to extract this find, given that i think its gone well beyond of the statutory limits of what the law allows. Essentially youtube is a general audience website. Every user on youtube says they are over the age of 13. The terms of service say if youre under the age of 13, dont use youtube. So there is really no there or there for the ftc to bring this action. I think it sets a dangerous precedent by Going Forward by suggesting that a general audience website is now going to be decided by the ftc to be a child directed website and subject to coppa. I would say for anyone who operates a website, talking about harry potter or the avengers or anything that could possibly be related to children, needs to be worried that the ftc may be coming for them next. To be fair weve got and let of push back from some members of congress we have a treat from a senator. We have a sent we have a tweet from senator ed markey. Hes saying that youtube knowingly broke federal law. Tracking kids in order to rake in advertising dollars without permission from parents, but the ftc let google off the hook with a drop in the bucket fine. Not a single google executive or investor will bat an eye. What do you make of that, and frankly, the reaction from senators . So, senator markey should know very clearly what the law doesnt and doesnt allow since he helped write it when he was in back in when he was in congress back in 1998. Under the law there are two ways to be subject, you knowingly collect from people under the age of 13. Youtube did neither of these in this case. So i think for a lot of people who are saying its not enough, i think for a lot of those individuals, it will never be enough. I think for them whether the fine was 170 million or 170 billion, it will never be enough for a lot of people who just fundamentally dislike these platforms and their right to give us Free Services as for all the antitrust issues surrounding google and other technology giants, we caught up with former acting chairwoman of the ftc, Maureen Ohlhausen on thursday, who weighed in on the issues at work. The fine is only one part of the remedy in any of these cases, the facebook case, google case, there are extensive provisions in the settlement orders that require google to go above and beyond what the childrens Online Privacy protection act requires, so now, they are having to screen content to see if its child directed, and then to impose the parental notification and consent provisions on that kind of content. The fine is only one part of the equation. You really have to look at the conduct obligations that are being imposed going ahead. The u. S. Led the charge in this particular respect. Do you think others might look into the child part of the equation, if any laws have been broken, perhaps not abided by in quite the way they would like in other parts of the world . Its certainly possible, and each country might have a different approach to childrens privacy. The way congress struck the balance in the childrens Online Privacy protection act is to have parents make the decision whether information about their children could be collected through online sites and services. In that way, what they are trying to balance is, you know, incentives to create child directed content against the desire to make sure children are being protected. And thats the way weve struck the balance in the u. S. , through Congress Making that decision. And clearly some lawmakers are not always drilled with not always thrilled with how policies are enacted by the ftc. He mentioned about the sweetheart deal for facebook. That sweetheart deal was a 5 billion fine. A significant chunk of change even though it pales in comparison to facebooks overall revenue. What did you make of that ruling on facebook in terms of privacy and how it changes the mode of conduct and how Business Practices will unfold for businesses Going Forward . The facebook order, settlement is quite extensive, and it requires facebook to create new types of oversight and monitoring and reporting, having obligations going up to the board level. Its quite extensive. Of course, a 5 billion fine dwarfs any other fine. I wouldnt call it a sweetheart deal. I think it was a rather strong message. Do you think Tech Companies are in general getting the message that, rather than having to respond to such accusations coming from regulators such as the ftc, they can somehow start to get ahead of the curve and ensure they are abiding by the letter of the law and the general meaning of the law before they are hounded by you, for example . I think youre right about that. I think they are, you know, paying even more attention to some of these issues. A lot of the companies have paid close attention to these issues but i think its really become a board level issue in a lot of companies, because there is not just the impact, you know, from an investigation and a fine, whatever, you know, the fine may be or what the obligations Going Forward are. There is also a reputational impact on these companies and i think they care about that. But i also think it highlights the fact that, you know, privacy law that is we have in the u. S. , federal trade commission has done a good job with the law thats been given and congress did pass the childrens Online Privacy protection act, but i think its highlighting the desire to have maybe an additional federal privacy law that would, you know, give Additional Guidance to consumers and enforcers. Coming up, slack slumps. Shares tumble this week after the company disappointed with its first report as a public company. Why sales are slowing next. Plus, taking on tesla. Porsche powers up its electric sports car but will it be enough to charge past the model 3 . This is bloomberg. While the company beat analyst expectations for Second Quarter revenue and earnings it projected slower sales growth for the second half of the year. Slack said revenue will be 154 million in the third quarter, signalling strong competition may dent the Software Makers rapid rise. We caught up with bloombergs nico grant, and on the phone, Research Director larry on wednesday, right after the results were announced. Its pretty stiff competition but what microsoft is trying to do is push Microsoft Teams and this type of collaboration into the infrastructure, and so it becomes kind of this horizontal service that everyone in the company has access to. And we can tell you, based on our surveys in this past year, that office 365 is increasingly being at contributed to industry collaboration. In previous years it was more associated as an outsourcing service. So in my opinion, you know, as microsoft has succeeded with teams, its also succeeded in building awareness of the need for collaboration and the ability to collaborate more effectively in the cloud, which should indirectly help slack and increase interest in the market overall. I want to bring in nico grant. Hes been covering slack for us at bloomberg technologies. Give us your top takeaways. What happened to the top line Revenue Growth . Taylor, this is an instance in which slacks status was not good enough. Weve seen for years that slack was one of the most hyped unicorns in sylvan in silicon valley. It rated at least 1. 3 billion because of all that anticipation, and the stock it raised at least 1. 3 billion because of all that anticipation, and the stock went down 15 today. The stock went down about 20 after that first top when it went public in june. And the reason why is because the company is decelerating. And so whether we consider the revenue forecast for fiscal 2020, which was just short of the consensus estimate of wall street analysts or we consider the growth in the number of paid customers and large customers but for many metrics, slack is not growing as quickly as it once did. There is a lot of gravity when it comes to these cloud Applications Companies and the larger that you get the more difficult it is to continue growing at the same rate, but slack is a money losing company, and so, you know, from an investor perspective, if youre not making money, then you need to be growing, and if youre not making money and youre not growing as quickly as we want you to, then were a little bit concerned. Not only did it get the investment perspective but you got the word from the c. E. O. I just spoke on the phone with the slack cofounder as well as the cfo, and butterfield said basically, you know, this is very strong growth for our business. The cfo echoed that sentiment. They said that when you consider the amount of customers who are spending more than a hundred thousand dollars each year with slack, think of the largest businesses in the world that number increased by 75 to 720 but thats still a slower pace of growth, and they are very much looking forward to a current product that they have coming out right now which they think can continue to improve things. But they are going to focus about the customer stories basically. Tell them, you know, what companies are using slack. They have seen lots of growth in europe, including germany. They are also seeing growth in the u. S. , they say, but essentially, they are sticking to their line of, this is good enough, even as investors clearly are not happy right now. I want to bring in larry back into this conversation, because larry talks about the future of slack, and part of that is bringing in some security tools, and i wonder, is that a future growth area for them . How does that compare with others . Well, when you talk about slack you have to realize there are two different levels, different families of products. One is which you may be familiar with, thats the free version of slack, where you buy it on a team by team or work space by work space basis. Then there is the slack enterprise grid. Thats with the enterprise license product where you get all you can eat, all you can consume teams and work spaces. Thats who i talk to, our clients about most often. And thats where they are investing a lot into the Security Products as well. So they recently released a new desktop client which handles more effectively a larger number of work spaces so they are expecting some growth there. Its also, they are also building in some native mobile security features, too, very similar to what in tune does with microsoft, to be able to control how the application behaves on a mobile device and to control the content that slack uses on the device. Thats all good stuff to help them compete and help them build credibility with the its that i talk to. Bloomberg lp is an investor in slack. Still ahead, porsche unveils its First Electric vehicle. Well run down the features , including, of course, the price. Bloomberg technology is livestreaming on twitter. Check us out at technology and be sure to follow our global breaking news network at tictoc on twitter. This is bloomberg. Devices are like doorways that could allow hackers into your home. And like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Our students achievements with custom gear. Drive they love custom inks different styles and designs. We love how custom ink makes the process simple with their easy to use design lab, expert artists ready to help, and unbeatable Customer Service. Custom ink allows our kids to show everyone their accomplishments and the pride they have in our school. When we place an order, i know they got our back, so we can focus on the kids. [narrator] custom ink has hundreds of products to make you look and feel like a team. Upload your logo, or start your design today, welcome back. The best of bloomberg technology, im taylor riggs. Into electricting cars. The automaker unveiled the all electric car wednesday. It will start at 90,000 with a top price newly double that. Their parent company, volkswagen, is hoping this will have them be the leading seller of every powered vehicles. Its just an exciting moment for us, being able to percent con. New ty youre right, we have a lot of preorders. Last week, from 20,000 to nearly 30,000 preorders. E are very proud of it today, we will mention what will happen in the market and see the response. Do you trust the dynamics of porsche . What can you tell us about the finance dynamics of the car . I think you are the first carmaker to develop with a promissory note. How did you come up with that idea . Calculation,o the you have much higher material cost, we have all the investment it. Ut we ask all the people to help. Everybody puts a part to be able to finance the product. That was the first time the Automotive Industry is doing this. Being able to produce a car in. Ermany will you always make the car in germany . Our brand is very important. Designed in germany, engineered in germany and build in germany is a very important argument and we want to go to a new era. We should do it where porsche comes from, where we built the. Irst 365 connecting out tradition with our future. Thehis will likely outselll 911, and the starting price is about the same. You have to sacrifice a lot of margin for that . At a later on some base product a bit below what hundred thousand euro or dollars. We have still a good margin. We see the tie con as a starting project. A lot of potential in future for innovation, but also for economic scale. Sticking with electric vehicles, the automotive veteran with a new ceo. They spoke exclusively to bloomberg at the companys los angeles headquarters and outlined their priorities. The next step, the amount is even bigger. So much interest for my understanding that the most thertant thing is to get trust, that they really understand that this company has a great future. If you can make this point. This company has a great vision. This company has a great product. What is missing no is the execution. Bring the product to the market as fast as possible and this is where im coming from. Im coming from the car industry, i really know how to do cars. This combination is perfect to really make it happen. That one of the biggest reported factors for s company was the to the best of your knowledge, how much of that money has been received and what is the status of that relationship with them . Its a very important relationship because it is coming from the digital world. They are in the process of raising money now, and there are some agreements with are not able to disclose here. But as yet, they have not contributed financially. This would be the next step. Was the ceo speaking exclusively to bloomberg. Coming up, a california bill is threatening to shake up the economy. Lyft,mpanies like uber, and doordash are responding. Plus, what this could mean for others. This is bloomberg. Emily spoke exclusively with him about the companys evolution under his leadership as well as its future, including plans for an international expansion. Take a listen. Part of our business has to fight for money and if they are not deserving money, they are not going to get it. Believe me, internally, theres lots of creative destruction, loss of competition. Destruction, loss of competition. If one part of the business is not carrying its own weight, we will pull back. We turned what was a 2 billion investment in cash into what stakebe a 10 million which was a very big ridesharing business in china. Are looking to build a business the right way, we want to build a business in alignment with our society. If something is not working, we believe weve demonstrated the financial discipline to make the right taylor call at the time. Taylor driver protests are not visual. When we last visited there was a driver protest outside. Democratic president ial candidate was out there with him. Their support for legislation to make them fulltime. Why shouldnt they be fulltime . They dont want to be fulltime. Some do. More than half of the drivers in the u. S. Drive less than 10 hours with us per week. Right now, california has a historic opportunity. We are at the table, we are having these discussions and we want to get to solutions. We are offering 21 minimum per hour when you are driving on a platform. We are offering benefits and we are offering a voice as far as. Is real money, and these are real rights. And you get the flexibility that every single driver wants because they can come into the market when they want to or out. This is a historic opportunity to revolutionize the gig economy and i dont think gig is a type of work. To say that there is only one way to work and Everybody Needs to be fulltime, i dont think thats correct. Flexibility is something that all of our drivers prize. Legislatures works in the interest of making something happen, absolutely. And you know that we are making very significant investments in safety as far as the safety center, tracking the ride, and we believe that we are the safety as farce transportation goes in the world and we will continue to push very aggressively on that. Drivers are picketing outside. The press is writing about helium balloons. How do you stay focused on the longterm . You put your head down and you work and you know that this is a once in a Generation Company that is going to change how people access opportunity and how people move. The work we are doing is important. Its part of being a public company. People have worked really hard, and the equity is a representation of their work. But people here understand that if they keep innovating, if they keep working hard. You cant control the timing, but you can control the outcome. Taylor as he mentioned, he believes drivers should remain with contractors and has joined other companies to step up the fight. Lyft andg with doordash pledged to be sure they dont reclassify their California Workers as employees. California lawmakers have been weighing a bill which designates workers as employees if the work falls within the companys usual course of business. The bill goes up to governor gavin newsom this month in the senate. Joinedrgs Josh Hamilton us to discuss. Josh idols and joins us to discuss. These since the Supreme Court ruling that set off this ruling, that set off this controversy. First, trying to get relief from the governor, then from lawmakers, going and trying to reach a deal with Union Leaders with support from the legislature if they had such a deal that could protect them from having to reclassify their drivers as employees. Companies are still trying to get a deal. They are still trying to get something to happen in the legislation that means they dont have to reclassify workers as employees. It would involve instead extending other perks and benefits. But these companies see that may not happen, and a bill that would codify and expand the application of the state Supreme Court ruling could instead become law and be signed by the governor. So, they are gearing up to be ready to go to the ballot in response. Weve got statements from three of these companies, ubedr saying they think it would protect the flexibility for drivers and ensure Dependable Service for riders. Saying we remain focused on reaching a deal and are confident that i this issue to voters if necessary. Dash says weor are tell us a little bit more about what is at stake here. You talk to drivers, you talk to delivery people. The vast majority of them do not think that they are getting paid enough, but do they really want to be fulltime . You hear all kinds of things is, people, and the truth being fulltime or parttime is not the same distinction as being an employee or a contractor under the law. There are various people who are parttime employees. More broadly, there is a trend in the u. S. Toward what some that more employment, and more people are creating wealth for a company that sets rules with them without being considered a companys employee. That Business Model is at stake here. Besides being the home of many of these companies, is a crucial market and also a bellwether that will be looked to as president ial candidates and others debate what should happen in the economy. Should there be a combination of these new models . Should these models have to adjust to accommodate existing protectionsnd the that have historically been tied to a particular definition of employment . Weve seen. 20 president ial candidates weighing in on this legislation, weve seen these companies and sec filings a reference of the threat that they could have to make a major change to their Business Model if they are not able to get the kind of compromise their looking her. What does this mean beyond california . Week after the court ruling that set off this controversy, Bernie Sanders introduced a bill last year that would apply a similar test to federal labor law, making it so that if you are not doing work outside the usual course of the companys business, you are not an independent contractor. If these companies are able to , that would be a useful talking point for them in discussing whether that should happen at the federal level or another state. Josh. At was josh ido for the second time in under a month, google teams revealed what happens on your iphone does not always stay on your iphone. Visiting a small number of websites could have left iphone users susceptible to a breach. That could have affected thousands of users per week. Google letote that apple know of this months ago and apple updated its operating system a week later. So, it has apparently been fixed, but google has only now revealed the vulnerability existed at all. We spoke with the chief Strategy Officer and Cyber Security reporter last friday to discuss. What happened is a we call a whereay vulnerability vulnerability exists and hackers are aware of that vulnerability before any patch exists to close it. That vulnerability opened up the iphone platform for any attacks just by surfing to the web for right to the website through safari. Malicious malware could be downloaded to the device which could be escalated to have full access to the whole device. Malware like this could then get access to messages, photos, locations, and could do all sorts of damage, all the way from the leading data, extortion of the user, as well as running a full espionage attack, similar to what we saw about a month ago. We now see that possibility going from the device itself. Its interesting that google told apple about this privately but then still made it public. And embarrassed them. Which does not seem so white hat. What is your take on this . Thisat interesting about one, can anything be left behind . It seems like that possibility certainly exists which is concerning for users. For users to understand that no matter which device they are using, there are going to be vulnerabilities. There are going to be places where they may not be so safe going into. To be smart about where they are using their devices and how they are getting access. Do you believe there is something disingenuous about apples privacy marketing and the billboard saying what happens on your iphone stays on your iphone when they cant guarantee that . Approach, apple has taken an approach of keeping it close and fully integrating the technology which did help them to protect the platform. Thatt is also fair to say no platform is fully safe and we live in a world where we need to assume that a processing unit ckable and is has vulnerabilities. Still ahead, and ipl considering seeking evaluation of about 20 to 30 billion. Bloomberg learned that this week. We catch up with a competitor in the space riveter next. This is bloomberg. A violation of up to 30 billion. Bloomberg has learned that the Office Rental startup is still discussing potential terms. Earlier this year, an investment value them at 37 million. One investor is not a fan. The worst part about it is the Corporate Governance. The Corporate Governance is unconscionable and the idea that jpmorgan is putting out an ipo with that kind of Corporate Governance is just unacceptable. It is very negative for a whole economic system. Wework kicks off the investor roadshow next week but its not the only Company Disrupting the coworking space. Their competitor has opened 10 timidity workspaces designed to accommodate women specifically. Since 2017, the company has raised 21 point 6 Million Dollars with of the goal of advancing workplace diversity. Their ceo and founder join us on tuesday. We work is obviously a giant in the industry but we are more like a modernday for working women. Number of different price levels and access plans for our members. We cater to a demographic that needs truly flexible work. We also look at how we can advance our community and the workplace. We do that through innovative programming Like Office Hours and Venture Capital investors as well as exciting programming with celebrities coming in from maria shriver. How do you take advantage of some of the negative recent namelyround wework, about their financials. Lack of profitability, how can you use that to your advantage . Try to use it to our advantage but i do think it is really constructive to look at how other companies that are going public are showing us their financial growth. Venture companys job is to take money and use it to fuel its growth. I think the interesting moment that they have right now is to think about how they can change the direction as they go public and the statement they can make. One thing to note, they dont have any women on their board and its an Incredible Opportunity for them as they go public to make their board have women. They have so many incredible Women Leaders in the company, so why not bring them to more public positions . How do you differentiate yourself financially . You have rival companies that lease properties. How are you built from the bottom line . Our model, we look at it as real estate lite. Catering to a demographic that wants more flexible workspace, we are able to go into buildings as they are and mold them into what i rebrand is without doing a large buildup. This allows us to take shorter leases and our buildout costs are much lower. Are you profitable . All of our spaces are cash flow positive, which is a big moment for us. Do you view competitors like sum game, or do you think that if they succeed and highlight the success in coworking environments, that everyone can succeed in that space . I think that coworker and is an industry that is just beginning. As the future of work changes to be more flexible, the freelancers and people working in the remote economy will need spaces like this. I like to think of how we can cater to segments in the economy like workingrs who might have left fulltime jobs, but have gone on to do independent work on their own. We provide spaces for that demographic which is really exciting. There is enormous opportunity for so many players in the space. Tryingalk about wework to file for Public Offering and looking at going public in the coming weeks, coming months. Any plans for your company to go public . Not today. We are just 26 months old, we are very new. Down the line, anything could happen. That was amy nelson. For this edition of bloomberg technology. We will bring you all the latest throughout the week. Tune in each day. Bloomberg technology is Live Streaming on twitter. Check us out and be sure to follow our global breaking news network at tictoc on twitter. This is bloomberg. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. And our shirts from custom ink help bring us together. We just upload our logo, and if we have any questions, Customer Service is there to help. [male] custom ink has hundreds of products to help you look and feel like a team. Get started today at customink. Com. Hello. Ae is the founder and ceo of two 2 billion tech company, a woman who is willing to take risks. Serves the accounting needs of 1 5 of the giants like boeing. Bas