Sources say the ftc is widening its investigation of amazon to include its massive cloud business. And u. S. Senator Marsha Blackburn on the social media app tictoc. Tiktok. We will hear from her after they say they have made changes. But we begin with major changes happening in alphabet. Larry page and sergey brin announced they are stepping down from the tech giant. The google ceo will now be the ceo of both google and alphabet. They will remain active as cofounders and remain on the board. Tuesday. O guests on it was a pretty big surprise. Questions about how much longer sundar might want to be ceo of google. Those questions have been a little bit. Google is under a massive amount of scrutiny. He has a lot of things to juggle. There have been internal protests. This really was a surprise where basically he has had to deal with all these things and he will be back dealing with all of the other things happening under the alphabet umbrella which includes self driving cars and other things. Taylor with larry and sergey as visionaries and sundar is a good executioner, where they fit in as leaders . Larry was the main visionary when people think of google. Larry and sergey together, they obviously founded the Search Engine more than 15 years ago and built that into what it was today. Larry was the driving force behind the idea that they be maybe about seven or eight years ago, google is going to have to do Something Else. To keep growing them a keep growing, he really pushed them into things like self driving cars and other things. Sundar, his background came from a very core google background where he ran the chrome operating system. He worked his way up the company. He can be seen as more of an operations guide. Certainly, since alphabet happened in 2015, sundar has been the one to deal with everyday things. Taylor stay with us, because joining us on the phone is gene munster. What is your initial reaction to this . Gene i was not expecting this but in some ways i was not surprised, in part just because of the 10 year, how long both of them had been there. Separately, the concept that the company is moving into a different chapter. Google proper, the next chapter, will be a lot around policy, data privacy, and regulation. What the next couple of years would look like, going through some of the minutia. Im not surprised to ultimately see this. There is another part of me that is kind of sad because it had such a profound impact on our lives, just a reminder that the greats move on. Taylor how much can this be seen as a vote of confidence in Sundar Pichai . Gene undoubtedly a vote of confidence. I think it is more related to what sergey and larry ultimately want to do than it is a vote of confidence. But it is a vote of confidence nonetheless. If they did not have that, he would not have been the one tapped for the broader role. Taylor we talked a few weeks ago when you had apple ceo tim cook really work the politics. In this day and age, you are not just running a company. You have to be working the politics, working the regulatory issues. Its Sundar Pichai ready and able to do that . Alistair i think he is from a Technology Point of view. If someone asks Sundar Pichai a super complicated question about what data google uses, how is it protected, he will know all of that stuff. He was partly behind building all of that stuff. Technically, he is great. On the showing up for congressional hearings, that is not something he really loves to do. Hes quite a quiet and thoughtful person. I dont think he enjoys being asked things live one the whole when the whole world is watching in a sort of contentious situation. But, he certainly can do it. When you compare it to larry page, really does not want to do any of that stuff, that is really the comparison to make. Earlier this year, as scrutiny ramped up on google, larry page, everyone said, this decision today addresses that, larry does not have to be there anymore. Taylor as you take a look at the company, he is running both google and alphabet. What could be some of the challenges now with the other two being on the board and still controlling most of the shares . One challenges around policy. I think beyond that, it will be how much oxygen to give the other bets. When we think about what has changed in sort of late state investing over the last six months with we work, uber, and lyft, past profitability questions, even corporate sponsors of these are asking questions. That, to me, would be where i would love to be in the room and hear the conversation about how much funding to give some of these other bets. An easy one to talk about is waymo, a radical view to autonomy, basically launching an entire wrapped up and tidy product. Very different than teslas evolutionary approach. This is revolutionary and a huge amount of spending would have to be behind that. That, to me, would be one of the key issues. More broadly, how they want to continue to foster other bets in that 20 time that has been a foundation of working at google. Taylor do you think this can be seen as a good thing, bringing this under one person, bringing both companies together, having him run both divisions, trying to simplify under a big umbrella . Gene i can see that. Google is definitely the powerhouse of the portfolio companies. That makes a ton of sense. I would not be surprised if, in the next year or two, sundar stays at the top and there is new leadership brought in for google. Taylor that was bloomberg technologys Alistair Barr and gene munster. As for how the shakeup will affect alphabet as well as the sheer number of ceos who stepped insightgot inside from andrew challenger. He was joined by tom giles. We are going through the biggest companies, making that transformation. It has been happening for a long time. Steve jobs passed away a decade ago. It has been one big company after another. We have a couple left couple major ones, facebook and amazon. What i think is happening is as these companies mature, they no longer have the need for the same visionary founder, the engineer who came up with these whizbang products. You need someone who is a solid manager, someone who can manage the supply chain, someone like tim cook at apple, someone whos got management traps whos got chops whos got the , sensibilities kind of run a company. Larry and sergey not known for their management skills. You need someone who can run all the operations of the company. Taylor what do you make of the cultural shift that is under way as we transition from the first generation to the Second Generation of these leaders . We have seen a lot of changes in the ceo position in the tech sector. Throughout this year, we have tracked 180 departures, the most weve recorded since we started tracking this number into 1002. 2002. A lot of these departures are these founders, ceos. They created a company out of nothing, but the company has grown into a new, mature phase. We saw with uber, juul labs, wework. A lot of it has been caused by this 10year expanding cycle in the economy where companies have been able to grow to a new maturity. Hopefully we are seeing and i think we are at google a solid handoff to the next generation of Business Leader as opposed to really a shakeup. Taylor we have talked a lot about diversity as well. You have a lot of good number two females, but not yet a number one female. When you think we might see that . I think it is indicative of the larger malaise when it comes to diversity. To their credit, these companies have been more transparent about the numbers. The problem is what those numbers show is a real lack of progress over the last several years. Google was one of the first, talking about, here is how many women we have in senior management. Heres how many women we have across the board. All the Big Companies are doing it now great. Its terrible as they are showing so little progress, and these are Big Companies. Its hard to move the ship, and its really time for these companies to bring more women and people of color into their board, into their senior management. Its well overdue. Taylor that was andrew challenger of Challenger Gray and christmas and bloombergs tom giles. And it was not just google announcing departures. The expedia ceo and cfo announced their resignations this week, effective immediately. They clashed with the boards direction. Vice chairman will take over while the directors look for longterm leadership. And coming up, u. S. Antitrust officials broaden their scrutiny of amazon to include its massive Cloud Computing business. And if you like bloomberg news, check us out on the radio, on bloomberg. Com, and in the u. S. On sirius xm. This is bloomberg. Taylor amazon is dealing with a widening antitrust probe. Federal officials are looking beyond Retail Operations to include its massive Cloud Computing business. We explored the consequent is with our guests. I think this is a surprise. Complaints about the Retail Business are well known. Independent sellers have been talking about ways they think the company is not treating. Treating them fairly on this platform, but complaints about Amazon Web Services have been quieter, so the fact they have seized this as an area of concern is significant, especially because Amazon Web Services is such a large part of the overall business. Taylor as you take a look at the company, respond to what naomi was saying, the retail concerns had been highlighted here. What about that Cloud Computing business . Did it feel anticompetitive . Cloud computing is a multitrillion dollar business. I was at the reinvent conference that is still going on, and the ceo said that aws cloud penetration is still 3 . On premises is 97 , of the are huge. The market share he called out is something publicly released, that is infrastructure as a service market. But the overall market, it is still a several trillion dollar opportunity that aws is a small portion of. Analyst are saying the assistant attorney general at the department of justice for antitrust at the conference, he said that being big is not bad, but big acting badly is bad, so i will talk about it a little bit more, but that was a very fascinating statement. That makes sense why they are looking at practices at aws. Taylor when you look at the cloud space from what i can hear on earnings calls, it seems like a competitive business. You have microsoft azure, amazons cloud business, google trailing them a bit we hear it is a competitive business. Does that raise the bar . Absolutely. It is becoming increasingly competitive. We talk about the Third Quarter results where the growth rate decelerated, primarily because aws is seeing pressure from azure. Aws until now has had a head start of seven years, but now that is an increasingly competitive market. Taylor naomi, you talk about how early interviews have gone on with clients, customers, competitors. What are investigators hoping to glean from those interviews . Naomi we dont know exactly the area of focus, but they will be looking at whether there are specific market practices that amazon is taking that could be deemed anticompetitive. They want to look at whether amazon might be unfairly excluding its rivals, whether amazon is treating independent Software Service providers differently if they also use other cloud providers like microsoft or google. Those are the sort of market practices that the ftc will likely be looking into, and we will see if they find anything. Taylor any sense on how amazon has been responding to this . Naomi amazon has not publicly commented, but we do see them talking more publicly about their cloud business. They have shown no signs that they are worried about this at all. So it seems to be at least publicly business as usual for amazon. Taylor does any of this have a real impact on the fundamentals of the business . How are these headlines impacting earnings or the share price . I think that the antitrust risk at this point is priced into amazon shares, which have pulled back year to date compared to the overall market. Or the retail performance yeartodate, amazon has not done as well, and it is because of this overhang. One of the risks amazon has faced is the overhang from antitrust. In terms of the stock price, there is an overhang on the stock, but in terms of the overall operations of the company, i dont think it is material to the overall business. Retail business is very strong, aws is very strong. Taylor that was bloombergs naomi makes an rbc analyst. Google is facing an inquiry in the u. K. Over its billiondollar deal to acquire a data company. The competition and markets Authority Issued an order barring google and looker from integrating services while officials studied the acquisition. Google wants looker for its cloud unit. Coming up, we hear it over and over the future is 5g. We find out how qualcomm plans to integrate from qualcomms ceo. Tiktok of tictocs s harshest critics on the steps they are taking to address her biggest concerns. This is bloomberg. Taylor 5g is a fundamental Technology Change that will affect business, according to qualcomms ceo. He sat down with Caroline Hyde to discuss the importance of 5g and the role qualcomm plays in its transition. , yousee it in the same way should think of it like electricity or water. These fundamental Technology Changes that change the way people do business, for example. That is really how people in the industry are thinking about 5g. Clearly, it will impact the cellular industry. You will see a lot of benefits to the consumer and operators. You will also see when you have the ability to connect everything in the world, it is going to change the way people do business. It is going to change the way factories are structured, it will change the way we deliver health care, logistics. This whole digitization of business and the infrastructure of the world will be very significant. It is actually one of the reasons why you see so much international desire to be first in 5g. It is because everyone knows the fundamental technologies are so important to the rest of the economy, make sure you are not behind. Caroline at the moment, what is the Economic Impact . Do you have gauges of how this will be from the u. S. Perspective, global perspective . Steve we issued a study that tried to look at the impact of 5g in goods and services out to 2035. The number was 23. 2 trillion. A tremendous amount of money. If we did that same study three or four years ago, it was 12. 3. It is already scaling. People are seeing this happening. The things they thought were going to happen are happening. I think it is a very positive element. When we look at the Broad Customer base or partner, a lot of people talk to us about, hey, i know i have to be doing something in 5g. Help us figure out what that is. The number of people and the breadth of companies have increased. That is consistent with the proxy value i just gave. Caroline what are some of the more surprising industries that have walked in your door . Steve two of them. One is, i would say industrial, factories. What you want to see in factories is i want to be able to reconfigure it very quickly. And the data that comes off my machines, like a robot that is making a car for example. Tremendous amount of data comes off there. It is the actual fundamental ip of the car company. How do i make the car, and how can i reconfigure the factory . They can change how quickly how they react to the market in terms of having different model year, it can be reconfigured quickly. Tremendous desire to do that. The other one is logistics. If you think about a city like new york, moving things around. We have not really done dramatic changes in the technology to move things around other than to just create more streets. When you can connect everything and figure out how to optimize that, and you can do all the ai and big data on moving goods and services, people and things around a city, and as cities grow larger, that is a tremendous advantage to those cities. Theres a lot of desire for people to get things connected so they can start that in a big way. Caroline do you feel a sense of responsibility that you are a driving force behind this technology, that you are in a race to win it for the u. S. To a certain extent . Steve probably broader than the u. S. Our Business Model if you go way back to the highest level of abstraction, it it is about it is about creating a bigger pie. You are trying to make the market grow, and particularly in areas where a market is developing that did not develop before, we do well in creating value for our shareholders. What we think about is how do we create an industry that does not exist . What are the fundamental technologies we need to create . How do we scale them, share them with everyone . What we dont do, because we are not good at doing this, is figuring out what is the end product. What we try to figure out is what is the hardest technology and what can we deliver the biggest piece so that people can innovate on top of it . From that perspective, you look and say, wow, logistics is going to be big. Digital health care is going to be big. What do we need to do so that 10 years from now, some company that everyone will know will develop and use these technologies . If we can do that, we can deliver for our shareholders and really deliver for this goal to grow the pie, i guess. Taylor that was qualcomm ceo steve mollenkopf. Taken,head, tiktok has cash takennough steps to reduce taken steps to reduce scrutiny but is it enough . Follow our global breaking news network at quick take on twitter. This is bluebird. Taylor welcome back to the best of bloomberg technology. U. S. Lawmakers have been after the popular viral video at tiktok for a variety of reasons. Been a target of National Security and data concerns. One more thing to be concerned about, the fact that it allowed children starting at the age of 13 to make inapp purchases. That is something senator Marsha Blackburn highlighted in a letter to the parent company, saying it is quote paving the way for the Chinese Government to gain unfettered and unsupervised access to our childrens lives. On tuesday, tiktok responded by upping the minimum age to 18. I spoke to senator Marsha Blackburn a few days later to find out if that is enough to appease lawmakers. Senator blackburn im pleased that they have changed the age. That is an important first step. Having these children streaming these videos, buying these emojis that could be converted to cash by recipients, it is just inappropriate. We want to protect children online. We want to make certain that apps are ageappropriate. You mentioned the other concerns that are there. We are going to continue to work with them. When you look at the facial recognition, the profiling, the concerns on National Security, how the Chinese Government, beijing listen, you cannot tell where their commercial sector and military sector begin and end. They are all one and the same. China is determined to build a surveillance state that is not only on their people and certainly we have seen this used on the hong kong protesters and also on the uighurs, so we know what they would do to us, and when you think about the profiles they are building of these children and how they would use that 10 or 15 years down the road, it is of tremendous concern to us. Taylor now that tiktok has responded and raised that minimum age, is that enough for you to recommend it or do you have other concerns about the beijing government using that . Senator blackburn we have other concerns. We will continue to meet with them and learn from them and i look over to sitting down with them and learning from their Leadership Team in the coming days. Taylor do you believe they should be under review . Senator blackburn i think it is appropriate to sit down with him and have the discussion and decide if these companies should be under review. It is the right question to be asking. Taylor having discussions with leadership is a great way to start. How do you, though, take it to the next level and prevent data in the u. S. And tiktok to be sent to the beijing government . One of the things we discussed today in Commerce Committee was having privacy legislation and Data Security legislation here in the u. S. You have gdpr which went too far on privacy. They are in the eu, and you have california looking at doing their own legislation, but it is time for the u. S. To put a basic federal privacy standard on the books, and this is something that online consumers want. They want the ability to protect their virtual you. They want the ability to secure their identity online. We had a tremendous hearing, great bipartisan participation, and one of the things i really liked, the entire panel of expert witnesses they were all female. One of the reasons for that is because women are so concerned about the privacy issue. Taylor i did listen to that, so i did see that, and i want to address that. As we move onto talking here about big tech, one of the tweets you had earlier this week was about google specifically and censoring conservative voices. What are your facts to support that . Senator blackburn when you look at the Research Work that has been done, and weve done a good bit of this work in our office. Other groups have done this. You look at the groups that are censored, the posts that are censored that code center and that the left of center and the post that are censored go right of center, and you see those that go right of center our are censored much more heavily than those that are left. There are plenty of numbers out there that you can look at with this. Indeed, i think one of the significant things as we worked on this issue, you had a ceo of one of the Tech Companies say their employees are in california. They bring their personal opinions into the workplace. It is their worldview, and this is something that needs to be a neutral platform if indeed your social media and Online Connections are going to end up being the new public square. Taylor i would love your thoughts on political add policy. You have facebook on one side, google somewhere in the middle, twitter not allowing political ads on their platform. What do you think is the right choice . I have to tell you, i think that political speech is free speech. One of the things that i have said so regularly is that i may not agree with someones opinion on something, but im going to defend their right to put that that ad up there. That ad up there. Of course, we all want ads to be truthful and factual, and many times you will see ads that have documented and sourced what they have actually in their political ad, and i think also we have to keep in mind that our system of governance, a democratic republic, has been well served by having robust, vigorous, respectful debate from a twoparty angle, and that serves our nation in the cause of freedom well. As we make these discussions, have these discussions about what is going to transpire in the virtual space in relation to political speech, in relation to religious speech, what we want to do is make certain that it is fair and that we are protecting individuals right to free speech. Taylor that was senator Marsha Blackburn tennessee. Onceg up, Emmanuel Macron had techfriendly credentials, now he is calling for greater control. Stance more on frances on the digital tax. And later, several states are trying to block tmobiles takeover of sprint. We let the case from tmobiles perspective. This is a bloomberg is bloomberg. Taylor Boris Johnson is joining the chorus of political figures to discuss taxing big tech. In an interview he said quote when it taxing internet giants on revenue, i do think we should be taxing them properly. I will be bringing forward measures to do that. Earlier this week, the u. S. Warned italy to not go ahead with a planned tax on u. S. Tax giants tech giants. The french president has already imposed a new tax global tech that collect 25 companies Million Euros in Digital Sales in france. It is aimed at making them contribute to state coffers like their brick and mortar fears. Peers. I got more from Laura Davidson in washington dc monday. Laura they are looking at a tax saying the consumers in france are not necessarily paying for the service but that the consumers are there and france should get a piece of that pie. France was the first to take that step and you are seeing a lot of other countries, the u. K. , new zealand looking at passing those laws. In some cases, we have seen more of these get on the books. This is concerning because the u. S. Sees this as their tax revenue. These are americanbased companies, and they are saying, if anyone gets to tax facebook, google, amazon, that is us. Taylor it is interesting how the conversation started. It was about trying to level the Playing Field between traditional brick and mortar. Has the conversation shifted now to an antitrust or data Privacy Concern . Laura that is part of the concern, but really, the big tension point is you get the u. S. Saying, look, you dont get this money. All of the other countries are saying, you are operating here, you have employees here, our residents are using the service. What we have seen at the large multilateral level, you have 133 countries sitting down and trying to see if they can figure out some system of which company gets to tax which companys portion of their revenue. It is a massively complicated thing to do. You have on one side of the other, you have the u. S. And france. France saying, we will abandon our digital tax if you can get 132 people to agree to something. Taylor how does the u. S. Respond to protect our entrepreneurial spirit in the tech sector . Laura that is something we are waiting to hear about today. The u. S. Trade representative has been looking at this. Several months ago, they opened up this investigation to see if there should be some sort of trade reaction. They are looking at tariffs, some way to punish france to say, look, if you will do this to our Tech Companies, we will do something to some of your products. President trump in the past talked about tariffs on french wine, for example. We do not know exactly will be in this report. It will be a 90 day waiting period with comments and back and forth. The u. S. Is seriously looking at starting a titfortat battle here. Taylor it is notable that they are not ruling out ruling out breaking up big tech. How would you do that in the e. U. . Laura they are trying to figure out, where would you draw a line of what is big tech and what is a smaller startup . Also, this would also affect pharma, manufacturing. It is a really big 800 pound gorilla that makes it really hard to get every side to agree to the tax. At the end of the day, this means that some countries like the u. S. Could end up losing out on tax revenue while some countries like india and china could end up winning. Taylor that was bloombergs Laura Davidson davison. The french take it was among the european perspectives we tried to capture this week. I got the unique opportunity to sit down with the french minister of Digital Affairs on thursday. I think there is a global concern within the u. S. And of how we set up a new regulatory framework. Antitrust that is adapted to the new diddle age. Companiesiggest acknowledge the fact we need a new level Playing Field. The real question is the set up of that plainfield. That is what we are favoring an International Solution. Its true we have been introducing a national tax, the main issue we are fighting for is to find solutions at the oecd level. There were solutions with the europeans and americans. Taylor do you view your tax as a steppingstone to a broader, multilateral solution . Macronident trump and have agreed to the sentiment that we need an International Solution. But in the meantime, france would be introducing their own tax. But there is some difference in the amount of money the company would be paying. We refund them if the International Taxes lowered. The main issue is finding an International Solution. Taylor i want to talk about that. You want an International Solution. Youve gone the route of an international deal. The oecd appears to want more of a multilateral deal. Those are in conflict. Hurtthose has that progress . So far, it hasnt, because there was a deal i was mentioning. We have the deal. We would favor at International Solution that would be this tax in the meantime but there would be this tax in the meantime. If there were differences, we would refund the company. Now there is this announcement from the u. S. That we canue is sign at the oecd level, and this is what is at stake. It could be agreed to by all the countries. Technically, france has been making many steps forward towards the u. S. Solution now the question to the admin attrition is agreeing to the solution on the table. Administration is agreeing to the solution on the table. Taylor what do you want the broad framework to look like . There were two pillars. He first is minimum taxation the second pillar is we have to rethink the way we assess the value of the presence of the company. Not based on physical things, but Digital Footprints in some countries. We have to reassess the way we assess presence and footprint. Now, in an international world, you dont need to rely only on physical presence in one country heard country. Taylor how does a digital tax help us deal with data privacy . I think those are totally different issues. The broader concern about the footprint of those companies is on our economies and democracies there is a set of solutions and things to address them a privacy is one. , regulation of hateful speech things like this. We have to rethink the whole framework of our regulation to adapted to the new world. Adapt it to the new world. Taylor the french president has set either a unilateral deal will go through or he will look for a multilateral deal with oecd. Which do you think is more likely at this point . Aside ball is in the u. S. U. S. s side. If they were to agree to the oecd solution, everything would be on the table. But where the u. S. To agree to this solution, im sure well find something more european. So if the u. S. Does not go ahead some of the oecds proposals and they instead retaliate with 2. 4 billion in taxes on french products, are you prepared . Are those countries prepared for retaliatory tariffs . This would not be a good solution either for the u. S. , france, or the companies. Said it wouldo favor the solutions oecd solutions, but if it were not issued, we would take initiative at our own level. If there is retaliation from the europe said it would be backing up france. So we still hope that there is room for discussion and can find a solution and we can find a solution. Taylor you said europe is backing up france and wants a global solution, but frankly you are the only ones to go through with this tax. There are other countries that have been introducing taxes in this respect. Itly and spain have passed to him austria has passed it. It is not only a frenchman in has beenean commission and a that it wants a tax new framework. That it is favoring the solution and adapted for a european solution they need to create that level Playing Field the best level is at the international level. That was voiced by the european commissioner on trade, that europe would back up france but favors an International Solution. If, at the end of the day we have to go into that discussion, europe will be backing france. Taylor i want to go back to the retaliatory tariffs we were talking about. It opens the period of discussion as 30 days, it could be not as broad. There are still discussions. Theret know the set up would be retaliation if set up of retaliation if it were to exist. Taylor the french minister of Digital Affairs. We explore this next. This is the word. This is bloomberg. Taylor three states have agreed to drop their challenge to the merger of tmobile and sprint. Scheduled to go to trial december 9 in manhattan. Tuesday Jennifer Reid provided legal analysis of the case. It is for states. It is four states. Mississippi is in that group, too. I think it is not surprising, to be honest, that some states have settled with the companies. I think initially, when the lawsuit was filed in june, you may have had different reasons. Some may have been just concern negotiating a remedy beyond what they negotiated with the doj and fcc, to be sure that some of those promises about 5g buildout would go to their state. If you look at the four settlements, they are similar. They all involve promises to to certain portions of the population within three years, then more within six years. Some include payments. Others include guaranteed employment levels. Taylor do we have any sense if this will go to trial december 9, or do we think we could see a more broadbased settlement before then . Jennifer we could see more settlements but i am very certain it will go to trial. It starts monday. I dont think new york and california are interested in settling the suit. I think Something Else will have to give to break that logjam. The parties are gearing up. They just filed pretrial briefs. The states that are still in dugin still. Taylor i want to show you a chart basically tracking tmobile in blue and sprints share price in white. Sprint pretty much unchanged going back to last year or so. Analysts are a little worried. A lot of analysts are hoping for a deal. They think states have a really good argument as they headed to trial. How much pressure is this putting really on sprint and tmobile to make a deal . Jennifer i think it is putting a lot of pressure on them. This has been a really extended interim period. It really puts a strain on companies business, especially particularly the sellers business. They have a lot riding on it and sprint did not negotiate an antitrust breakup fee. That means however they were hurt during the interim period, they will not get recompense for it after the trial if it is blocked. I think there is a lot riding on it and i think they are working hard to settle with the rest of the states. Taylor any sense what the competitors feelings are . Tmobiles coming out and saying they are first to get 5g and they are going to be a real threat if this merger goes through. Have we heard anything from the competitors about this . Jennifer they have been quiet for a reason. When a competitor can complain about a deal of it can have a strange effect on how the doj looks at the deal. A competitor complaining could suggest that the deal is actually competitive and force them to lower prices and compete more strongly. Verizon and at t have been quiet about it. I think they are just watching because i think there is a good argument here and i thick it is think it is hard to predict what will happen and whether this deal will be able to get closed in 2020. Taylor bloombergs jennifer thatthat doesnt does it for this weeks edition of best of bloomberg technology. Bloomberg technology is livestreaming on twitter. Check us out to be sure to follow our global breaking news network at quicktake. This is bloomberg. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because 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. Jonathan from new york city, for our viewers worldwide, im jonathan ferro. Bloomberg real yield starts right now. Coming up, the u. S. Payrolls report coming in hot. Counting down to another trade deadline, waiting for a phase one deal. Twitter showing there is more than enough appetite for highyield debt. We begin with the big issue, a blowout payrolls report. This was a pretty strong report. Impressive report. Undoubtably a really strong jobs number. It is almost unfathomable
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