Tensions over the 26000 primary battle between Bernie Sanders and Hillary Clinton I'm Julie Walker check out more news get the best analysis there both at townhall dot com I'm Rhonda Rockstro guys waking up over and over to urinate is not Ok but now you can reduce those nighttime bathroom trips with the ingredients in Super Bowl of prostate p 3 advanced We're talking about lesser edges to urinate at night less bathroom trips during the day and better bladder emptying It's like taking 3 prostate supplements and one you can try a full 30 day bottle of p 3 advanced free just pay shipping and handling no strings attached no obligations and no commitments to buy this is a 30 day supply absolutely free call 180-424-7126 super beta prostate is the best selling brand in major retailers like Wal-Mart but for this no strings attached free bottle you must call now call 180-424-7126 Don't miss out on this unprecedented free offer 18042471261804247126. Health officials are issuing a renewed warning as the number of people sickened with the long disease linked to v. Ping continues to rise officials with the Centers for Disease Control and Prevention are urging people to stop they think until they figure out the cause of serious long illnesses that have been linked to the use of each cigarettes Dr Dana meany Delman is the incident manager for the c.d.c. More information is needed to determine grisette products or. Are involved officials up the number of possible cases they did at a 5 to 450 including at least 3 deaths doctors say the illnesses have symptoms that present like an infectious disease including shortness of breath the Teague chest pain vomiting and fever I'm Jennifer King u.s. Naval Academy investigating report and new switch hung on academy property on the 56th anniversary of the March on Washington more breaking news and more analysis you can find them both by logging on to Town Hall dot com. We're going to bring you the latest money news interviews like Bloomberg Radio your home town station 1520 tell you the c.w. Has been going to be from World Headquarters all where the director of MIT's president is. Down today. For his ranch of ties project decelerates about this year as Jeffrey as it were to The New York Times I'd seen killed himself in a New York City jail last night of waiting for the 2nd traffic and the shark attacks with over the years airplanes donated or solicited millions of dollars in donations that ad or that research lab bench the tech once again in the crosshairs of some really good best occasions which you bipartisan groups of state attorneys general are launching said we're going to try to broken down Facebook and alphabetic to your parent company you know Google i president tries over whether they use their dominance and get home to swap competitors cantinas on both approaches could come this week here's a little lackluster August jobs report which just 130000 jobs added is what was going out it was about the Fed will cut interest rates again it meets later this month it's only early September but the upcoming flu season could be the worst in 5 years and that could mean a real shot in the arm to some key drug makers Bloomberg Courtney Donahoe has more Piper Jaffray analyst William quirk suggests that the 292020 flu season may be 21 percent stronger than last year given trends from the record Australian flu season and average temperatures domestically he said more citizens having influenza like illness is would be positive for companies including whole logic Becton Dickinson and Meridian bio science among others Donahoe Bloomberg Radio and there's good news for New Yorkers who are craving a big mac and fries but don't want to leave their home McDonald's is now teamed up with Grub Hub which also owns seamless to wall for mc delivery from about 500 restaurants in New York City and the surrounding area McDonald's already uses door dish in new breeds to get your food delivered Global News 24 hours a day on air and attic. On Twitter powered by more than 2700 journalists and analyst in more than 120 countries I'm Tom Busby this is Bloomberg these days Bloomberg best Bloomberg best is about the insight in the context of get Americans it's a great way to catch up on some of the stories you might have missed in the Bloomberg stories you are not going to find in any other news organization remember best Bloomberg the best stories of the week powered by 2700 journalists and analysts in more than 120 countries around the world from the Bloomberg Interactive Brokers studio I'm Jim concept I'm at Baxter coming up on the weekend edition of Bloomberg best investing chief investment officer Fishman money on what the rest of $29000.00 looks like for the equity markets but for the u.s. Market anyway the way it remains the central issue and I just to be clear if you think at the bar or I think the market at that point was an exclusive interview with a new c.e.o. Of Farraday future electric vehicle start up all this and more coming up in the next hour of Bloomberg back to. August will go down in history as the month that drove investors crazy but left them ultimately unscathed the s. And p. $500.00 lost 1.8 percent for the month not stellar but the furthest thing from unprecedented Krisna money invest goes chief investment officer spoke with Bloomberg Paul Sweeney and Tom Kean about what August can tell us about the rest of 2019 Krrish if I take my Bloomberg terminal and I put my hand over the equity markets and look at everything else in the terminal there's no way I would suggest this resiliency in equities let's start with the why of August in the why in the summer why the equities been so resilient. Well it could ease up being resilient because the overall profitability of u.s. Companies despite what you may have heard from people is actually quite good and interest rates are quite low as well so that combination of good profitability and other alternatives being not so not so hot I think keeps people focused on that but he's so clearly in the any issue for just financial markets in general risk assets in particular has been the uncertainty about trade How are you kind of factoring that into your overall outlook for markets. For the u.s. Markets anyway the trade the remains the central issue and just to be clear if things get far worse I think the markets are going to suffer having said that I think in the current context when we are simply talking about tariffs that is the trumpet ministration implementing certain tariffs on virtually all of Chinese exports we know what the implication of that that is affectively financial const consolidation that is a tax on us consumers and we know what the impact of that is going to be you know it's not good but it is not going to be catastrophic. You know there's enough momentum in the economy from jobs and you know some growth for people to live through that if somebody were to the international demand because somebody told them to do that at the margin now are you stable or increasing international ownership or you migrating at the margin over to us domestic ownership. So u.s. Valuations relative to international valuations are substantially worse in that u.s. Equities are meaningfully more expensive so I think at the margin level despite the fact that it may take a while for all of this to play out the incremental allocation from my perspective is really going into emerging markets because valuations in the morning markets are extraordinarily attractive and the trend for inflation and rates in the morning markets a little or so Christmas we think about you know the trade uncertainty in the marketplace it's kind of puts the Fed in even a more difficult position here to May perhaps think it might have to kind of be a ball work a little bit against what some of the negative effects of uncertain trade What do you expect the Fed to do over let's call the next several quarters and end do you think it will be enough what So I think chair power that actually indicated in his Jackson Hole speech as to what these are going to going to be doing you know despite his characterization of a mid cycle recalibration that after the July meeting it because it has become quite clear to me that if the markets the economy not the markets of the economy needs it I think they will be providing more support and I think they kind of me could certainly use that support for it to carry through whatever uncertainty from but ministration has created so my expectation is they're probably going to cut in September and it probably cut in October and perhaps one more time in December again. There's enough momentum but I think providing that support Vironment where there's no inflation is probably the right thing to do what is the catalyst for international improvement relative Standard and Poor's 500 is a financial earnings based revenue growth catalyst or is it all political. I think it is at the moment it is all political it is trade wars the bricks that it's all these things that are dominating the conversation that I think there is the profitability of international companies and specially in the merging markets is good enough is just that in the current context nobody wants to buy any of these because tomorrow they could be somewhat cheaper on the other hand if you have a 510 year investment horizon this may be the opportunity that you had been waiting for for quite some time so christian one of the things that's certainly been supporting economies around the world certainly the u.s. Has been the consumer What's your sense of the consumer you know really overall underlying strength. So if you know if you look at kind of real time data or months of the activity level actually has been relatively stable and you can kind of piece all of that together looking at all the other indicators so from from that standpoint the near term outlook for jobs and income growth is quite good you know that if the current uncertainty persists the challenge is really going to be more and maybe by November or December of this year or more likely in 2020 So right now there's enough momentum in the economy jobs growth would be good income growth is going to be good and therefore consumption is going to be important that's question a mani the chief investment officer at Invesco Coming up how much is trade weighing on the u.s. Economy this fears over. 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Factory activity unexpectedly tracked in August for the 1st time in 3 years as shrinking orders production and hiring pushed a widely followed measure of manufacturing to its lowest levels since January of 2016 in June the Institute for Supply Management Purchasing Managers Index fell to 49 point one that in August weaker than all forecasts in a Bloomberg survey of economist Daniel on b.n.p. Chief u.s. Economist spoke with Bloomberg Tom Kean and Lisa Abramowitz about the strength of the economy and I want to start there with your experience in the State Department considering the fact that so many economists have basically written off the likelihood of a trade deal I'm wondering as we see the increasing expectations for u.s. Recession how much with those get absolutely annihilated if there were some trade deal in other words you know could the u.s. Economy grow substantially if we were move some of these trade tensions that's not some question that I think actually the weakness that we're seeing in the u.s. Economy and in fact around the world. It's not driven soley by trade tensions this was a cycle that in manufacturing that began before the trade tensions really accelerated so even removal of the trade tensions made not be enough to you know cause the the u.s. And the global economy to rebound strongly but that said there are I think tentative signs that perhaps both sides are recognizing the the economic damage that this is inflicting upon themselves as well as the rest of the world and. While it's really challenging to predict exactly the twists and turns of the trade tensions I think the prospects for a cease fire are still there Ok Sudan I'm just wondering given the fact that there are still as some chances for a cease fire what's the likelihood of a u.s. Recession the next 12 months obviously much will still depend upon. How well the trade talks go in September and beyond but I think it's premature to talk about the r. Word right now it's yes you know there are some important signals notably the yield curve which are pointing toward toward a recession but and clearly a diesel aeration enough slowdown in u.s. Growth is already happening but. You know the u.s. Consumer which comprises 70 percent of the economy is still strong there's only tentative signs that sentiment may be shifting so I think we need to see some more data coming before we know for sure that the consumer is turning Dr on you know it is remarkably global if you pull it all back to the u.s. Economy I want you to fold in Japan right now you've got a fabulous chart buried in your note of the slowdown in their domestic machine orders versus what else is going on in Japan is drone Powell the central banker to Japan right now. Yes son he's in a position where with so much of the rest of the economy and particularly emerging markets I would say as well as other developed markets hinged upon the u.s. Monetary policy he is de facto acting as the central bank of the world even if his mandate from Congress so you know Course just us focused and of course there are people in Washington d.c. Who want him to be even more slowly focused on the us rather than the rest so what does that do for September 18th What is the the global nature of this mean for the German is the look the subprime or 18 Yes So chair Powell has definitely mentioned external conditions as one of the 3 reasons why he has already started cutting rates he believes that this is part of a risk management strategy where the fundamentals themselves may not quite justify already moving into an easing cycle but there are reasons including as you said external external global economic weakness that justifies rate cutting so I think he will use similar justifications because the reasons the 3 reasons are all still there weak economic conditions trade tensions and a muted inflationary outlook to support further cuts to you are saying that it's too early to start talking about the r word and whenever anyone says The r word it makes it sound that much more ominous that we are seeing that yield curve whether it's 2 ten's whether it's 3 months 10 year wherever you want to slice and dice a you're seeing the inversion persist is this time different this is sort of mean nothing yes always perilous for economists to say this time is different when so many times it's not actually the case but I actually do think that this time it's a little different there are reasons to believe that structurally long term interest rates have been depressed slow or. I mean the end of the day yield curve inversion is basically a prediction of that short term rates are going to continue to fall and that has always been correlated with a recession but if you know what the causal channels are complex and with rates already at a relatively low rate it doesn't take I think as much this time around for the yield curve to invert you know part of your charm if you took finance 3 with an economic degree as well one of the causal transmission of negative interest rates that wasn't in your studies was no and it's an ongoing area for for research right now and the latest I think in academic thinking is that yes you know we can move somewhat into negative territory we've already seen that with you know with Switzerland with some of even countries and so on but there reaches a quick point to a point where once you depress interest rates in negative territory too far you know other mitigating strategies like hearing x. Cetera can only do so much before this actually you know meant to be bad for the economy rather than good for the economy and now the fine folks really go academic Marvin goodfriend at Carnegie Mellon would suggest a braver approach negative interest rates which deals with the amplitude of the difference equation I mean if you deal with the amplitude and push down negative rates is receding in Germany right now and switch to doctor on if we if we boost the amplitude of negative interest rates doesn't that provide instability by definition when you recover Yeah we're certainly kind of on the other side of the looking glass here none of the standard kind of theories sort of accepts that negative interest rates are even possible and yet here we are. So we are in uncharted territory and that is always dangerous for for policymakers and and for academics maybe kind of an exciting for academics. It's uncharted territory here so I mean bottom line and you know we can quibble about exactly what is the right kind of negative interest rates. Should be set but I think the big picture here is that. You had to win the states by the global economy are not smart cherry and just and and credit related in nature and so there's only so much that you it is actually in monetary tools to fix non-monetary problems that's Daniel on b.n.p. Power Abaci us economist coming up oil slides again on trade uncertainty we hear from Mark Edwards the Diamond Offshore drilling president and c.e.o. On how he's positioning his company in the face of low prices this is Bloomberg. w dot com slash Deltec. Dell has something extra for small businesses up to 45 percent off during their semiannual sale it's a perfect time to update to Windows 10 with huge deals on business computers featuring Intel Core process. 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During the bridge of the latest money news interview like Bloomberg Radio your home town station 1520. Peace talks to end the war in Afghanistan President tempered feeling that tomorrow he did have high level talks a high level meeting at Camp David with the Taliban with the president of Afghanistan Trump says he called off the meetings after Sergeant 1st Class It was on him but t's a 34 year old u.s. Paratrooper from Puerto Rico was killed by a car bomb as were others more than 1100 Bahama and 7 rived in Florida after being evacuated by cruise ship from the islands devastated by Hurricane Dorian in the port of Palm Beach correspondent Rosa Flores reports they will be met by Customs and Border Protection agents agency tells me that there are extra officers on hand to try to expedite that process saying and all of the evacuees will tonight Dorian is sweeping across Nova Scotia killing power for hundreds of thousands of people I may have a pain and. None of the spokesperson and sponsored by opens our country. Attention both bracing for a wave of antitrust probes with New York State's Attorney general leading a coalition of states looking into n.t. Competitive behavior at Facebook the Texas a.g. Leading a bipartisan probe into similar charges that alphabet the owner of Google federal prosecutors recommending actress Felicity Huffman spend a month in jail and pay $20000.00 fine for her role in the nation's biggest ever college admissions cheating scandal often is accused of paying a proctor 15 $1000.00 to boost her daughter's S.A.T.'s scores sentencing is this Friday how much longer can American consumers boost the economy while businesses bear the brunt of a global slowdown and the effects of President Trump a trade war with China Bloomberg Mark Mills has more a jobless rate hovering near its lowest level since the Woodstock era expanding incomes from wages and investments and optimism about personal finances are helping to make a more solid outlook for sustained spending growth at least for the time being however business investment has been lackluster Friday's jobs report came in below estimates and more Americans have turned to credit to finance their purchases with the potential of interrupting the spending trend economists worry that weakening economic growth in Europe and Asia along with trade war turmoil may have bench really bleed over into Main Street USA Mark Mills Bloomberg Radio and early bear hunting season kicked off today and some south eastern parts of New York State it runs through September 22nd while the season in upstate New York runs through October 18th if you need a new phone hold off because this coming Tuesday Apple holds one of its product to reveal events at company headquarters in California c.e.o. Tim Cook is expected to debut 2 new high end i Phones as well as a lower priced l.c.d. Display model all coming with 3 cameras and a tougher glass display there may also be a new I watch Global News 24 hours a day on air in a tick tock on Twitter powered by more than 2700 journalists and analysts in more than 120 countries I'm Tom Busby this is Bloomberg. You're listening to. Bloomberg best of all I'm Bloomberg Radio. And I'm at Baxter. The energy sector is getting hit on multiple fronts low oil prices are hurting sentiment and activity is lower as producers prioritized cash flow and shareholder returns a June Diamond Offshore an oilfield services company has trimmed its rigs and now has just 16 assets which includes a handful of drill ships and 12 Mord rigs used for mid-water depth c.e.o. Mark Edwards spoke with member exotic steel about oils changing landscape at these levels of oil prices and the uncertainty in the global economy what's it to be like What are your clients telling you well I give it to you at the beginning of the year we saw it start to increase but I think it's somewhat leveled off its clients look at the macro situation for all well and they're looking at the oil price pacifically And that's really 4 factors that are influencing oil price a day I think people are looking at the you could in the us in and what that means for oil prices they're looking at the trade issues between the United States and China of course the 3rd issue that is on everybody's mind is known OPEC production growth that's accelerated in the last few years and was where's that going and then of course into the melting pot you go the mix of OPEC's efforts to try and balance the market and there's a people stepping back looking at all of that and trying to figure out where it's all going so how do you fill that's in terms of client activity or do you fill in more in a day rates well day rates actually have been moving up over the last I would say 12 months when I was on your show earlier in the year we saw a big increase on the world we had fraud drillships in terms of day rights we go close to a doubling of what the spot market was on a long term contract but there's another asset category that Diamond Offshore Pacific plate is focused on and that's the more deficit category and we're seeing day rates in that particular space significantly up. From where they were before so they rates are coming off the bottom there's no question about that the question is Where do we go from here and what do you think that we break it down for a 2nd so we've had a day rates for say drillships which is say ultra deep water it may double the like you said what about now is it just too much so many rigs out there don't have any pricing power from here you know I think if you look at primarily those 2 asset classes in offshore drilling there you go the ultra deep water drilling ships and of which it's not just what's happening in the macro market around supply and demand there's a lot of ships on the market and is there enough capacity and I'm on moving forward to absorb all of that supply now on the other so I do you've got the more than us it's all the same makes mobile offshore drilling units that accord semi's and some of those are more the some of those that dynamically positioned. In the space we've seen a lot of scrapping of the fleet of the 126 assets that we've seen scrapped since the beginning of the downturn about 90 percent of them. In the 2nd asset category which of them ordered and deep beats me said most of bulls so with the scrapping we've seen a tightening in the space and I was on the back of that as the market has picked up during the course of the year we see that those day rates have started to substantially move up can you give me some clarity or visibility on numbers for both. Yeah let's go back to the ultra deep water space which is primarily drill ships there's about 134 of them today maybe 65 a contracted of which maybe 4550 are actually drilling because of the oversupply in that particular asset category day rates are somewhat struggling now the up off the bottom and I think what we were very pleased about in our 2nd quarter call we announced day rates that were close to around. $300000.00 a day were tourists almost a doubling of the spot market we were fortunate we caught have specific window of opportunity whereby as there was a little bit of a time I was building in terms of day rates and utilization in the asset class we were able to grab that but I think since we've seen a little bit of this a softening in the oil markets and selves the door is closed I think day rates are somewhat limited in terms of further growth so we were actually very pleased to capture that moment on the the 2nd asset category being the semi submersibles as I spoke about the scrapping a somewhat fixed us base and day rates for those are actually outstripping the day rate for the ultra deep water assets now what that what's good for done mid-off shown is that we're a leader in that space especially the mod as a category that is of the mode semi some us was about $58.00 out of out there maybe $44.00 that are that are actively marketed and we've got 6 in the top 12 so those day rates have gone into the 2 so they're moving forward in that they're recovering That's Mark Edwards the c.e.o. Of Diamond Dot sure and coming up a conversation with the new c.e.o. Of either you start up there is a future this is number one. Listen as a hiring manager Afghan to tell you the best job candidate isn't always the typical candidate sometimes there are a grad of life meet the grads of life young adults of you need to terminations and experience an ideal fit for your company in an entry level position internship or mentorship they might not have every qualification you typically look for but they're exactly who your company is sometimes the best candidates aren't the ones you're used to go to grads of life dot org to learn how to find cultivate and train this great pool of untapped talent brought to you by the I counsel and grads of life done or. Today business happens here. 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Dot com slash future tired of wearing the same 5 shirts every week we can help stitch fix is a personal style and service that matches you with your own stylist and delivers clothes right to your door as you take the hassle out of shopping and find new styles that leave you feeling great with Stitch fix you get access to great looks ranging from refined to rugged to fit your physique and your budget discover the stylist and styles that work for you at stitch Fix dot com personal stand for men women and kids stitch Fix dot com personal styling for everybody I want to keep my heart healthy so I get my cholesterol checked regularly and when my doctor told me my cholesterol was borderline I found early according to my pharmacist there's an w dot com slash Deltec. Restaurant have Field New Life Community Church there's a lot. 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Paratrooper from Puerto Rico was. Killed by a car bomb as were others more than 1100 behind me and said arrived in Florida after being evacuated by cruise ship from the islands devastated by Hurricane Dorian in the port of Palm Beach correspondent Rosa Flores reports they will be met by Customs and Border Protection agents agency tells me that there are extra officers on duty and to try to expedite the process of all of the evacuees all tonight Dorrian is sweeping across Nova Scotia killing power for hundreds of thousands of people I may have a meaning we were. Not the traditional expression and sponsored by opened our concepts attention even start up Farraday future has named automotive veteran Carsten bright failed as its new c.e.o. Bright fellow replaces the company's co-founder why. The former Chinese billionaire has been plagued by debt issues tensions with investors and so far failed to bring the company's Dubuque hard to market head of taking the reins right Feld spoke exclusively to Bloomberg said Ludlow and outlined his priorities for Farraday the company has been well documented financial problems had some financial problems some talent problems and as far as the outside world can tell production plans for production essentially on hold so what is it about this company that convinced you to take the reins. First of all I'm really happy to be here and if it's an honor for me to stuff this company as a c.e.o. In the future. I know found the right Hugh Johnson since some years already and if we come very close and I I really admire has a vision for the future which is very much in line with what I think will happen in the future of transportation and this is not only about electric cars this is about shaft mobility and it's about equal systems Tell me about the company that you take . V.s.s. 91 is this kind of high spec luxury what. Is that option line time line for that and what is the sticker price going to be on that. So you have to understand that the f. $91.00 is much more than an electric car it shows what is technically possible today so it has a very fast as a liberation very good range it's built for drive us and for presenters So it's a big screens are not a lot of space the whole interior concept is really designed for presenters we're going to bring it to market next year I would say I will but don't want to commit on a month right now. And the prize will be $150000.00 abio And so it's a real luxury really good to shape the brand and targeting that is what is the cost in the base that you're looking at. This is. People we could call early adopters people who are really fascinated by technology. Who want to do have the best you can get the best in technology the best in quality and we will build this kind California 1st and it will come out of California to some other regions in the world you're also planning longer term sort of mass market vehicle the f.f.a. One f. $81.00 tell me about that what is the production timeline and what is the difference with that they're all here so the whole product strategy consequent consists is a top down approach to all the efforts 91 bullshit of the brand as a top luxury recall showing what is possible today if anyone will be the next one a bit smaller but a lower price positioning still a premium car and then we are working on that on a 2nd platform already which is a platform which is on a much lower cost position I think the team in Shanghai in China speaking on it and based on this platform we are building more vehicles which then will be built in China and will scale the volume many in China you talked about the f. $91.00 being produced. You're in California but you've also. Had some problems on the production side the hand plants before you came to the company had a number of layoffs what is the situation at that plant how many employees were there are there what are your plans in terms of hiring and production from that California plant so we are just building the buildings the team and I think the things you mentioned it's true but there's some positive very positive aspects behind it if a company one goes through a difficult time then the people who remain are the ones who are really excited who are really buy into the idea really want to make it happen so the team which they are now it's a core team of very passionate and very excited people who really wants to make it happen whatever it takes and this is approach we are doing right now and then from plant is on the construction of. Some more months to get it into a production that while you will not be so high. 91 so very confident. Confident that we can make this happen within the next 12 months the company is also invested in a plant in China in mainland China what is the status of that what is the plan for it. So. The locals blood from the scale to model the volume model this will be the 2nd step I think it's too early to comment about a very concrete time frame right now but I think you will see something within the next 2 and a half years this is quite interesting this dynamic between the u.s. And China where do you see the long term future of this company is it a Chinese company in China is it American company here in the USA or is it a mix of both Now I think it's it's not an American company and these are only a Chinese company it's a global company so if you want to become the disrupter in transportation in mobility you. If you have to act globally in all the big markets this obviously is China and it is California but it will happen in Europe as well in another part of the world so if f. Is acting out of California but it's a true global company in the true global approach Tell me about the company you've inherited I suppose is one way of putting it what is headcount like what are your priorities coming in what do you want to change. So what I found as I said before is a team of a very passionate and very committed people who want to make things happen whatever it takes the actual headcount is around $600.00 worldwide and I think we will have to build this up a bit top priority right now obviously I think this is the fund raising we'll have to go to the Corporate America people have to show what you have is a bit on foot to have to say because during the last 2 years if you heard about Pirate Day It was mainly about the challenges at least I heard it from our side but if you come here and I think you had a chance to see it today it's so much substance so much substance it comes to technology it was a product and it was a business model and this we have to communicate and you have to make people understand that this is the most advanced start up company of all those new companies you know the issue of fund raising. What's the situation how well capitalized company what funds. And where are you going to get them. We have to understand what's going on right now in the in the capital market if you look back and you know that I built another company 3 years before when you look and we'll talk about that of course before then. Maybe a little bit but if you had a nice public presentation and a big vision then you could get hundreds of millions even billions of dollars this has changed now because I think the whole investment community understood this business it's much more difficult than they saw before it's a lot of money to invest. And of heavy investment it takes time to establish it and it takes time to return so there's a consolidation going on right now and the end of the day everyone is convinced today that the future will be electric and shared and it's about digital ecosystems the revenue will come from this. And now it's about who will be the one who's making the rate and. Florida it's in the absolute best positioning right now when it comes from the product technology and the vision for the business model and this is what we have to state so I'm. I'm confident that we can be successful because if you really communicators and if you make them understand where this company is standing right now. They were very well I understand that this is the number one to invest but essentially what you have is a very good almost finished pre-production car. California plan is still being built how much cash do you think you need only stage to get production. So in the 1st stage it will be don't want to mention a concrete number here but 3 did have $1000000.00 amount it's still missing to make all of this happen I would say and then in the next 2 or to scale the wall human to bring the next product so the market the amount as you can be. But if it is 100 or 200000000000 it's not so much of interest from my understanding the most important thing is to get the trust of the market and investors that they really understand that this company has a great future and if you make if you can make this point then we can progress and this is where I see a bit of my where you're coming in here because this company has a great vision why do you drive developing great vision this company has great products and what is missing now is its execution bring the product to the market as fast as possible and this is where I'm coming from. Very much coming from digital system so he's covering this whole part I'm coming from the car industry I really know how to build cars and I think this combination is perfect to really make it happen you said that's a good question when I see where the money was coming from one of the biggest reporting back is that this company for the future was knowing that they were a force that they had played something like 600 $1000000.00 to the company to the best of your knowledge how much of that money has already feature to see what is the status of that relationship but that. As things particular it's a very important relationship because this company is coming from the dead to pervert and yet talking about business models covering to the eco systems. In the process of raising money now and there are some time agreements between Faraday and the 9 b. a B. Are not able to disclose here but I think we're on the quite good pass to move forward together with that as yet they haven't contributed financially to Farraday future this will be the next step now in the upcoming funding rounds that's Carsten right filled. With a future and that's all for this edition of Bloomberg best you can see all of our best work and I best go on the Bloomberg terminal and you know this is number. Adopt us kids presents What to Expect When You're Expecting a teenager. Learning the lingo Joe Jelly as you do with Jodi is a shorter better way to say job is as in Chloe I am like soldierly of your unicorn phone case you don't have to speak teen to be a perfect parent thousands of teens in foster care will love you just the same visit adopt us kids dot org brought to you by the u.s. Department of Health and Human Services adopt us kids and the Ad Council. 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