argue u.s. presidents can only designate national monuments, not downsize them. trump also plans to shrink the grand staircase escalante monument. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ emily: i'm emily chang, and this ." "bloomberg technology coming up, disney takes the lead come emerging as a front runner to acquire the bulk of 20% of a box's media empire -- century fox's media empire. all bets are on. early bitcoin investor offers his take as the world's biggest exchange operators prepared to begin trading futures of cryptocurrency. and next week, big boat on net neutrality as pai the starting to go back. permanent text investor who has been accused of sexual misconduct says he is taking a leave of absence from his duties a. five women who met him in a professional context told bloomberg they were essentially acros assaulted -- sexually assaulted or harassed by him. one says he groped her at an uber holiday party. he is confident he will be indicated. we are joined now by our guests who have been covering this story. he is referring to a rape allegation against him in london. there is some uncertainty surrounding that particular case that the case of the six women and the story we told is our concern right now. you got new information just as we were sitting down from the hyperloop one about the status. what can you tell us? >> it did not come from hyperloop one, but i got a copy of his letter to the members of the board of virgin hyperloop one, and he said he is resigning from the board and he says signing his super voting rights to the brand-new cochairmen, a russian investor, who is going to be taking over all of sher vin's voting rights. emily: we have a statement from sherpa capital. we should note that he has completely deny these allegations. working to find those who are " spreading false rumors about him.". what do you make of his reaction? >> definitely not an apology. he needs to distance himself from the company's as they saw this stuff out. he is certainly not taking responsibility for the accusations and calling it a scheme -- a smear campaign. we don't have a real apology yet, but he is clearly putting some distance between himself and his companies facing these accounts,ations, six and a real arrest that occurred in london over rape. arrested, but there are questions. emily: he was never charged, but london police have confirmed that u.s.. tell us about what we have heard from investors in sugar capital. -- shirsherpa capital. sarah: silicon valley bank had been in a partnership with a capital, and i have not commented all weekend, but today, i heard they had in fact all in contact with shervin the good about the status of the status of their relationship, and they just told me today that now he has resigned that they plan to continue that relationship with sherpa foundry. other people seem caught by surprise. as recently as sunday night, he said he did not wan intend to resign. emily: still no comments on ppg? sarah: ppg his declining to comment, and that is still the case. emily: he has given $500,000 to democratic candidate senator booker. we also heard in a statement from uber that they support those who come forward to discuss the sexual harassment. they come and their bravery. we learned that shervin is no longer a special advisor to ub er pass the was under travis. eric: seems like his relationship with uber was through travis. the new ceo has not relied on him, and i think the company's turn to put distance between themselves and shervin now that he is no longer a special advisor. the democratic candidates, it to them he began to figure out what they were going to say. cory booker was hosted at shervin's house. he was a major democratic fundraiser, a major butler for president obama's campaign, and a donor to the democratic national committee. we have two senators now saying they will return the funds. emily: pesos for some for president obama declined to comment. we have not heard yet from hillary's's post for some, but he donated to hillary clinton. very strong ties. i know we are all going to continue to follow the stories of thank you so much for stopping by answering the update with us. a major daily media can come sooner than you think. 20th century fox is speaking with disney to sell some of its assets. it could come as soon as next week. that this signal a new era for the media giants? let's bring in our guests, who covers media for bloomberg intelligence in princeton, new jersey. so what is the status, especially with disney? >> selects like plenty of companies are looking out for these assets from fox. ,omcast, verizon, sony m disney were all in the hunt for these assets. it looks like fox my favorite disney a little bit because i think they see a better strategic fit for their assets. i think they think it would take fast regulatory muster. when it was acquiring time warner cable and then with the nbc acquisition, i think they might favorite disney. emily: are there any stumbling box giving the boj's recent lawsuit surrounding at&t and time warner? >> all of the investors are going to be watching that lasted very closely. death lawsuit very lawsuit very closely. this is totally unexpected, and it shows that no deal is going to be a slamdunk, not going to be a walk in the park so they will be looking at very closely. emily: what would fox be left with here? with a still be a viable competitor? >> absolutely, they will be. fox has struggled over the years with its film and tv studio. and has been a little disappointing part of their business just because they have not been able to throw out as many hits. it has required a lot up any investments and because they have so many aging franchises, they have not seen as much success like disney. is a business that requires a lot of investment and might be better off with disney. fox is going to be a much leaner company after the sale, a potential sale. they will hone and really more on their news and sports properties. those properties have been doing really well. they have a lot of competency and expertise in those areas. emily: so what do we know about the timeline here? >> i mean, the cnbc report obviously says that it is going to probably come out anytime next week. the stocks themselves have been going on possibly for about a month or so on and off, but it could happen. i think they are really gaining momentum. emily: i know you will keep us updated.thank you so much . coming up, and early bitcoin investor reading the benefits of this year's rally. how the capital is investing in blocking technologies next. you can check us out on bloomberg everyday at 2:00 p.m. in san francisco. this is bloomberg. ♪ emily: the worst is behind snap and the company will likely get back on track next year, this according to a barclays analyst. for theraded the stock first time since initiating equal weight in march. shares gained during trading but remain 15% below the marco rubio price. also became the first and was to after theue apron lackluster performance, sending shares of more than 16% on monday. as we have been reporting, this sunday at 6:00 p.m. eastern, the global markets will finally start trading bitcoin futures. cme debuted contracts on december 18 and the nasdaq will feature next year. one person started investing bitcoin in 2013 when the digital asset first had a major rally and prices have since then surged, enabling him to quit his job as an art advisor in hong kong and start a capital firm. he joins us now in san francisco. i am sure it has been quite a ride for you. >> yes. emily: what do you make of the optimism, incredible optimism, and incredible skepticism at the same time? >> i think we are just at the beginning. the optimism is we are starting to see what the future will really start to look like with main street capital, with institutional finance coming up in the stage, and as far as the skepticism, it is a natural reaction to just the unknown and such a surge in interest and capital humming into the space is natural, but it will fade as the actual development of the space was on. emily: do you think it is a global? even if it is not a fraud, is in a bubble? jehan: we are in one of the many peaks and valleys along the way on a trajectory up to a greater and greater future. emily: what is your hunch for next year? jehan: i think we will see 50,000 by the end of 2018 for bitcoin. emily: that is strong. jehan: every month, we are revising our target up. coming,rything that is with the one-two punch of the cboe and the cme, the entire world is on watch now for what is the realnd what liquidity that can enter this market will actually look like. emily: you are big in hong kong. what is the difference between how cryptocurrencies are perceived in asia versus the u.s.? jehan: i have a feeling that asia is a lot more nimble than the u.s.. chin emily: china aside. jehan: despite the china van and the crackdowns, they are incredibly open to blocking technology. low-key, china is one of the fastest-growing and fastest to adopt an enterprise of that level blocking technology. i also think that the types of signals that the pboc has been given as far as developing their own cryptocurrency even as a proof of concept lends a lot of weight to the validity of digital currency at a soccer level generally. -- sovereign level generall. we will see the first digital form or in one from another, and i think it will be digital currency. emily: do you think that has anything to do with the delay of north korea using bitcoin and having a safe haven? jehan: i can south korea is interested in cryptocurrency because they have a culture of trading. they are familiar with trading stocks. i think cryptocurrency comes very naturally. i am not sure it has a lot to do with the politics between the north and the south, but i do believe that anywhere you see a population comfortable trading like japan, korea, and even hong kong to a degree and especially recreationally in china, you will see a lot of interesting cryptocurrency. i see that growing exponentially. emily: what are the other cryptocurrencies you are watching? jehan: of course, i watch a lot of the big ten. ther=, but i am interested in the bloom of utility lines that are coming. i specialize in ico's and the applications coming out of the space. one of our projects is a decentralized database application. think of it as the oracle for black chain. as well as a company that lost from jason goldberg called simple token, which is a quinn for e-commerce. we tend to focus on the large capp d crypto, but what is the software look like? we start to see these from companies like intel can. emily: that regulations are coming? jehan: i think the sec has been on watch. the sec has pursued persecution against another ico, which is their way of showing they are serious. 2018, they are really under pressure to show significant regulation in place and a real framework for how they begin to approach it. i think that is 2018. i think the rest of the world will follow. there are many jurisdictions which look to the sec for guidance, and once the sec shows how they plan to deal with cryptocurrencies long-term, we will send to see what is regulatory certainty globally, and i think that is when the real money starts to come in. emily: so bitcoin hits 50,000 as you expect it to my the end of next year, what about a cerium? jehan: i would hope it would hit around 5000 by next year. i think that is a relatively aggressive and ambitious target. it is really much greater than bitcoin itself. is at its root a utility token, an application framework, and the way you can use it far outstrips what bitcoin can be used for, although bitcoin has incredible utility as a store value and unit of transfer. emily: all right. we will have to have you back at the end of 2018 to see if you were right. thank you so much for stopping by. jehan: thank you. emily: coming up, tesla continues to struggle to meet its production demands, but could get the right charge from another elon musk venture? this is bloomberg. ♪ emily: lyft has announced its most recent funding round has increased, bringing the total raised to 1.5 billion dollars. it is now valued at $11.5 billion. this was led by alphabet. also investing is fidelity investments, which gained significant u.s. shares as uber faces a string of legal battles.elon musk 's tesla is known for its grandiose plans. a semitruck that goes 300 to 500 miles on a single charge, but it is also known for continued production problems and cash burn. how can tesla be put back on track? the answer could line with another elon musk-led company, spacex. dana has all the details. she covers everything tesla and space express. where is this coming from? >> it is largely coming from adam jonas's imagination. he has been asking elon musk on earnings call if there is a chance of tesla and spacex combining. elon says no, these are different companies with different portfolios, but there is overlap in the companies in terms of what they are doing. they shared technologies in terms of material science. tesla is the vp of material spacex, so you can imagine a scenario where perhaps one day they would merge, but to speculation.s is no evidence this is underway. emily: has elon musk or tesla commented on this at all? dana: no. elon has been clear that these are two different companies. spacex flies rockets and wants to inhabit mars. they don't have a natural overlap, but they are both companies that can we be sure data for ai at some point. you work for tesla or spacex, you are really working for elon some who tends to borrow people as he needs them, but it is hard to imagine a scenario where they would actually merge. emily: is tesla in such dire straits that such a deal could be helpful? dana: that is really hard to say. i think until tesla gets the model three production issues finished, i do not see them being acquired by anybody. i don't know what spacex would gain by having tesla. spacex is doing goin gangbusters on its own. i don't know if they would want to be associated with tesla. emily: elon musk's attention may wander to his conquering the universe, getting to mars, and all of that. do you think that is in fact a risk? dana: i think what the interesting things about adam's note is tesla has never had a coo. what the secession plan is is not something the company has been -- emily: haven't we recorded that he tried for a wild to find a coo? dana: there have been rumors in the past. there is not active search that we know of. plan?s the elon has always said he can see stepping down from tesla was the model three is up and running. it is not clear who would run the show over there if he ever did that. emily: has he ever said that about spacex? dana: no. spacex is the company founded in 2002 from his money woul from paypal. emily: what will you be following, especially as it comes to whether or not they can resolve the production issues in short order? dana: i will be looking for early january that spacex releases the sales and production figures. i would like to know if there was an active coo search. i am sure adam will ask his questions on the next call. both companies will have a very robust, busy year coming up. emily: ok. dana, thank you. dana: my pleasure. emily: coming up, more news on the scope of russia's influence on u.s. social platforms.how the kremlin tried to pose as local american new sites on twitter. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg apps and sirius xm. this is bloomberg. ♪ ♪ >> i am a alisa parenti. you are watching "bloomberg technology." house speaker paul ryan says the tax bill is "monumental reform." ryan praised the progress at a leadership conference today. passed a motion to reconcile these two paying bills. the committee led by kevin brady has a lot of work to do, but they will get this done and make the legislation the best it can become a better than what we have seen. >> congressional leaders meet with president trump thursday. the senate voted to confirm the homeland security secretary. she previously served as john kelly's chief of staff. party leaderionist says the irish government would not allow british brexit negotiators to release the text of an agreement over ireland's border. the deal which gave northern ireland a special status distinct from mainland britain was blocked at the last minute and collapsed after the dup refused to back it. of kuwait of abruptly ended the meeting just hours the uae started after and announced a new partnership with saudi arabia separate from the gcc. today's development puts the pressure on gcc, whose member states are all u.s. allies. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. it is just after 5:30 in washington, 6:30 in hong kong. are joined by sophie kamaruddin with a look at markets. good morning. >> good morning. , leadingcopper sick that tumble in base metals. industrial and mining shares and asia under watch. sydney futures are signaling a lower start ahead of australia's third-quarter gdp figures. the dollar has compounded as traitors price and more rate hike's in 2018. the yen continues to consolidate. japanese futures pointing lower. --ore "bloomberg technology" coming up next, "bloomberg technology." ♪ ♪ this is "bloomberg technology" and i am emily chang. more news on the extent of russian interference on your social platforms. the russian internet research agency back by the kremlin tried to pose as news sites on twitter. the agency operates dozens of sites that garnered 50 500,000 followers. what do we know about the sites and the news they tried to spread? >> these accounts were convincing as they tried to pose for local american news sites and garnered 500,000 followers and targeted communities from chicago to los angeles to san francisco. even sent direct messages 24/7 for any feedback. it is interesting that many accounts were trying to sow people ond put left the left side and right people on the right and create divisions across society. accountshese other were trying to immigration themselves in a particular community to be regarded as the trusted local news source. many of these accounts were created before the 2016 election and were again used during the discordlections to sow and promote propaganda. emily: why did it take so long for twitter to discover this? >> they have been berated for taking a long time to finally understand the extent of the manipulation on the platform. twitter did tell me they did not verify any of these thousands of research agency-linked accounts, and now has suspended them. they are now dedicating a lot of engineering resources to the added thatd they they agreed this sort of an activity is intolerable and they need to do better to combat this , to update their algorithms to bots andmilitia make sure they cannot spread their malicious messages. there is still a lot more work to be done on their part. emily: indeed. thank you so much for bringing us that story. bloomberg lp is in partnership with twitter to produce breaking news. russian interference and net neutrality, lots of big issues. the president and ceo of the internet association, which represents all the major players here with us in the studios and has been following the hearings in washington, tech companies testifying before congress. we just had the story about twitter, more bad news. what is the responsibility of these companies when it comes to these issues and find did it take them so long to realize it? >> first of all, it is a serious issue and the companies have come forward to address. we are talking about foreign onionage and it is incumbent us to make sure foreign actors cannot influence elections or meddle in our political system. issue.ot a simple we also have free speech and trying to figure out what is fake and real is not that simple. emily: there were suspicions of this more than a year ago. we saw mark zuckerberg after the election say it was crazy to swingfake news could have s the election or it was a big problem, but it makes you wonder why it took so long for these companies to take a harder look at themselves. itwe are certainly doing now. companies are taking it seriously and putting pieces and place to make sure that -- in place to make sure this doesn't happen again. emily: they are joining to gether to battle terrorist content, but it is another problem. are workinganies closely to identify and remove content before it comes up, but it is another gray area when you take a video on bloomberg, but also used by terrorist organizations to recruit, to know the difference between the two is not simple, but something our companies are working on every single day. emily: i'm curious what your thoughts are on the sec poised to roll back net neutrality protections. wheeler on ourom show. take a listen to what he had to say. >> what we are seeing here is ation of the internet. if you like your cable company and the way they choose which channels you can see and continue increasing their prices, you will love what happens under this repeal because suddenly the people making the rules are the networks. emily: we also have this statement from the chair of the sec now who says they might call a their advocacy in public interest, but the real interest is using the regulatory processes to cement their dominance in the economy. openit comes to a free and internet, twitter is a problem and uses the position to discriminate. emily: i strongly disagree with the chairman. this is about individuals. deflectying to develo attention, but this is about people trying to access the internet. the reason we have rules is because there is no choice. without these rules, you will be looking at a cable tv model for the internet, which is bad for these digital internet platforms. should not be revoked. emily: what will the consequence be? >> this is not the end. it is like groundhog's day. it is not over yet. this is an incredibly important issue and will go to the courts. to tip our hand on legal strategy, but it is questionable, the ability to roll please back in this way because nothing has changed since the rules chairman wheeler did were put into effect, and this will hurt consumers and the economy. silicon valley and president trump did not get off on the right foot. many in silicon valley came out against donald trump. there have been lots of things happening within the administration and washington has a relationship between silicon valley, better, worse, any change? take it issue by issue. even if you look at the obama administration, there was or is of agreement and disagreement. when we disagreed, we were vocal. when we didn't disagree, we didn't. when we disagreed with the president, we have been vocal, working closely with the administration on important issues good for our industry and society at large. we work closely to bring computer sciences funding to k-12 schools. that is something where there is no disagreement and the reason why we should not be working together for the best interests of our country. emily: immigration, trade, many, many issues. can disagree on issues and do so constructively and -- respectfully and find a way to work together. we think we can make progress. you have to take every issue individually, just like under obama, trump. that is just the way it goes. emily: always great to have you here on the show. thank you so much or the relationship status of eight. i appreciate it. google is ramping up for a hiring thousands of reviewer's to reduce the number of inappropriate videos on youtube and introducing tougher restrictions on advertising and making greater use of smart technology. aims to havele 28,000 people to review questionable videos on the platform. back fromks to bounce a string of embarrassing incidents of questionable content on its side. industrial drone the startups aim for new heights. we will speak to the ceo of one company about its latest funding round. this is bloomberg. ♪ emily: the industrial drone start up kespry just close series c funding round, raising $30 million, bringing the total over $61 million. it included strategic investors with shell technology and cisco ventures. show comes on board as kespry tries to expand into gas and oil. the ceo george matthews is here. i am curious about this relationship. will you be partnering with them? excited about a number of strategic investors that joined this round. shell is a customer and using kespry for better asset management. not only a customer, but investor. emily: what do you mean about better asset management. >> there are right tossed because you don't know where spare parts and materials are. overhead to a drone understand where materials are using and track that effectively with computer vision, then moving to rfid. that will be delivered i kespry for the drone and the analytical operations. emily: what is the potential for drones in the industry? >> these industrial markets are big market opportunities. the miningin aggregate space where we have 150 customers and have expanded into architecture and construction, and recently the insurance inspection space. the miningink about space, the aggregates market, and the it additional industrial use cases, energy is a natural next to step, so oil and gas has the potential for a market as big as the spaces we are in today to take kespry to new heights. >> i spoke with chuck robbins about the push in iot. what sort of partnership do you see with cisco? >> when cisco is looking at the are thef iot, drones new sensor networks and delivering new information on the new platform where you can collect industrial sources of content and process that in an effective way. waso saw what kespry delivering in the market and became a natural investor this round. emily: there is still regulatory uncertainty. what are your concerns? >> the regulatory landscape is fluid at this point. the trump administration earlier this year, there is work that needs to be done to open up the airspace it self. today, we have a clear regulatory framework and can fly a commercial drone low 400 feet in visual line with a license. that regulatory framework in place as of 2016, it opened up the commercial use cases. emily: five years from now when we look up in the sky, will we see multiple drones? >> some of the regulatory work is to de-conflict of the airspace and identify where good actors are and where drones are being used for this kind of commercial work, so we will see more consumer and commercial drones in the airspace. emily: how will they control volume in air traffic? is the overall framework in place come on unmanned traffic management system led by the faa where we can identify who is in the airspace and de-conflicts of drones are not running into one another. regulations see the of commercial drums versus personal drones? enough of a regulatory framework to do business. mines,flying over construction locations, rooftops to assess damage after superstorm's. the industrialt aspect of the commercial space, i think the regulatory framework is suited for this work to get accomplished. emily: george matthew, ceo of kespry, thank you so much. coming up, top tech on display at the world internet conference in china, but can the u.s. breakthrough the firewall? that is next. this is bloomberg. ♪ emily: a european union court has sided with apple in a trademark dispute with shell me. the xiaomi product can be confused with the ipad. get thepplied to trademark and can appeal to get this decision one final time in the eu top court. the fourth world internet conference is underway in china, and the cast list features prominent tech execs, including tim cook and google. it used to platform to tout its push into augmented reality. will amplify ar human performance and the liver breakthroughs that reshape our lives, education, health care accessibility, and countless other areas. that is why we created the world's largest augmented reality platform this year. we are enabling developers rverywhere to create a experiences that benefit mankind. emily: joining us now from tokyo elstrom. l s the ceo of to see google speaking in a china where it is blocked. what do you make of the remarks for the chinese crowd? >> this conference is interesting. started in 2014 and takes place southwest of shanghai in a canal town. it was called the world internet geterence, but it didn't the luminaries you would see in other places. this year was different. it was not just the ceos of apple and google, but chinese government and companies exuding more confidence than ever before. chiefs and tencent, both were in attendance and among the 10 most viable companies in the world. had some choice words for the people in attendance, including the western companies. the chinese government officials were talking about their approach to the internet and how they see not just the censorship which has drawn criticism, but their approach to security as one that can be embraced globally. beginningd about initiatives to combat terrorism and put together a global task force to take on these issues. they are exuding a lot of confidence from this conference, which we have not seen before. of alibaba spoke to take a listen to what he had to say. >> the first -- spoke. take a listen to what he had to say. technical logical revolution brought about the first world war, and the second brought the second world war, but the third one not be a war where countries fight with one another, but a fight against disease, poverty, and climate change through our joint efforts. emily: what do you make of jack maas comments there? ma's comments there? >> interesting, but he had choice marks when asked about havinghip in china, facebook, twitter, and other services blocked. theas forceful in defending government's approach and said companies come into the chinese market and need to follow the rules. he made the case of the chinese market is open, something many companies would contend with. he said you have to follow the rules when you come here. the implication is you need to follow the rules of censorship, and chinese companies have sensors and house to block sensitive content. he made a forceful case on that thet and chastised some of western companies that have come in temporarily and not made strong commitments to the market. one of those companies is google, which tried to move into the market and has some business available, but at the core search business. do we expect any change in the chinese government stance in the future? it is interesting. by the moves were government officials laying out the government line. they are sticking with his. it comes at a time when the u.s. is wrestling with fake news on facebook and twitter, allegations about russian hacking an election, and they feel like the chinese approach has some merit, so they were making that case. always, thank you for joining us on the show. that does it for this edition of "bloomberg technology." we will see you tomorrow. this is bloomberg. ♪ is this a phone? or a little internet machine? [ phone rings ] it makes you wonder. shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. choose by the gig or unlimited. and ask how to get a $200 prepaid card when you buy any new samsung device with xfinity mobile. a new kind of network designed to save you money. click, call or visit today. ♪ we are live from bloomberg's asia headquarters. our top stories this wednesday as the s&pclines sees its first three-day drop in months, the worst run this year. traders are weighing taxes and trump. congress work is on a compromise deal, while the russian inquiry once bank details. >> i am betty liu in new york. p.m.,just after 6:00 china's enormous bar

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