Third straight week. For more on wall streets move, we are joined by scarlett fu. Lets talk about how this happened. Ett we had quadruple witching. Options tied to indexes and stocks, that led to a pick up in volume. Then you had it falling below the trendline, where the average price over the past two and half months. The theme for today, as it has been for the rest of the week is the lingering disappointment that the fed did not give investors a prize that they have been positioning for. Recent winners, the tech, has been consistent laggards. They are the worst performing sectors this month, down 10 in september. Emily i do want to talk about oracle, tiktok, and this dramatic move by the u. S. Government to expel tiktok and wechat by the app stores. When did you what caught your eye . Scarlet what i found interesting was that even though it trended lower, volume in the stock is off the charts. It was about 26 million shares this week on average. That is up 86 from the first two weeks of september when oracle was in the mix. That is more than doubled the daily average of january through august. One analyst points out that operating tiktok would be extremely profitable for the company because almost 90 of the top line will flow to the bottom line. Analysts also said that oracle can adjust National Security concerns by pointing to government agencies. It will allow it to secure personal information with the same rigor that it secures u. S. Intelligence info. That is one of the notes from wall street that has people excited Going Forward if the deal gets done. Emily thank you so much for wrapping it all up for us. Happy friday. Talking a little bit or about tiktok now. The u. S. Today said it would expel wechat and we check from u. S. App stores as soon as sunday, but could reverse a ban gets aok service once it deal that satisfies National Security concerns. Services provided to tiktok will be extended until november 12. Tiktok responded in a statement saying it disagrees with the commerce departments decision and added that the company is committed to protecting 100 million u. S. Users safety and privacy. We discovered wechat downloads have surged since the ban. Ives frombring in dan wedbush securities. If the u. S. Government makes good on this promise, it is a pretty dramatic move. really, sharper teeth and the talk up at the top coming in thethe white house talk coming out of the white house. Access, that is going to be front and center in terms of cfius. It is going to be a highstakes broker. That puts more pressure to get a deal going with oracle front and center. Emily what you think the chances are of a deal being done in the next 48 hours . Dan i think about 65 . Just given the situation in terms of bytedance and tiktok, if the plug gets pulled on , it goes downons massively on day one. If you look at the alternative with microsoft no longer involved because of the algorithm situation from an acquisition perspective, i think investors are hoping that sunday night we get a deal. Ofcomes down to this moment this tech war with tiktok and wechat front and center. Emily what do you make of what we know about a potential tie up and the term that oracle and bytedance have agreed to . To be ahink it needs majority ownership in terms of oracle and walmart oracle, they are winners. They come out smelling like roses, and this could have a Ripple Effect for oracle in the withay, since they compete microsoft and others. For tiktok and bytedance, especially ones china changes the export roles with the algorithm no longer in play, that is going to be at the linchpin of this argument in terms of how they access the source code and that is something the white house is talking about. Emily one of the chances china says, we do not care. Why does tencent need to have operations in the United States . There are plenty of giant, incredibly Successful Companies that do not operate in the United States. Dan there is definitely a chance. Operations, tiktok lets call it 30 billion, depending on what path that takes. I think that is the issue that it goes up in smoke. As much as there is a who win and who comes out better, it does come down to if those u. S. Operations get shut for tiktok, it could be a huge gut punch to bytedance. And it would be a wrapping up of tensions. Be one of the most strategic players within china apple. I think china finds themselves they are not selling in terms of tiktok, but they have to get a majority stake. Couldicken in this game have significant consequences. Emily what do you think is the ultimate outcome here . We have an election coming up in there is aber and chance that there will be an administration change. There is a chance that President Trump stay in office. Theres a chance that tiktok continues to operate as it has been from the beginning. 12, cristobal the ball,view it crystal the way i view it is we do reach a deal here. Also possible a deal past,through, but in the it does seem like a lot of this around security concerns. I think the white house and there33 comfort needs to be comfort. If that happens, this deal gets done. Going into an election, it goes down a dangerous path especially in u. S. China decorations. Accruations. Emily all right. That would be a huge potential. Always good to have you on the show, dan. Thank you for showing sharing your insight. Silicon valley goes public. We will look at the latest ipos to hit companies to go public. Why investors are seeing a similarity with snowflake. This is bloomberg. Emily welcome back to Bloomberg Technology, some breaking news. Democrats and republicans have reached a deal to avert a shutdown on october 1. They were working to secure some additional funding to keep the government open. They have reached a deal to keep the government open for now as negotiations this week was supposed to be the before education started in new york city. Mayor de blasio pushed back the date. To open september 29. Middle and high schools to open october 1. Here in san francisco, school has already started, but it is virtual for most. The intersection of education and technology is the focus of our special airing tonight. Educators and investors and innovators. Unbelievably angry and frustrated i am at the lack of federal leadership and dishonesty and playing things down. The lack of resources. This is more of a Natural Disaster than on manmade catastrophe. Should not be in this situation. We should not be in this situation. 20 30 of the population that does not have sufficient internet access. Schools have been doing a heroic job of getting laptops out. Seeingn then, we are part of the population not engaged for whatever reason. It is a tough situation, for sure. There are some things that we can do that are immediate. We need to ensure that every student has access. Right now, there is a soup a report that estimates that 15 million to 16 Million Students lack access. Tonighthis program airs and on saturday morning in london and hong kong. If you take a look at the latest news, you will see a familiar face. The latest issue dives into the relationship between Mark Zuckerberg and President Trump and looks at employee claims that facebook is not as worried about free speech as it is about attracting the president. There it is. Sarahus now on the phone, covering the story. What was your ultimate conclusion about the relationship between art zuckerberg and the president Mark Zuckerberg and the president . H i do not think that we concluded that Mark Zuckerberg is a republican or trump supporter necessarily, but what he is is concerned about facebooks ability to stay dominant manatt be regulated, and in that sense, he has been in credibly helpful to the president looking the other way when he breaks rules, reaching out to him directly when there are problems that need to be solved, also with conservative news organizations, the policy at facebook has looked the other there is information spread on facebook. It all has to do with the recent round of lies about voting. Thato vote, went about, facebook has said in the past would take that content down, but instead has been putting links to more information instead. Ultimately, employees are concerned, not just about this type of behavior in the u. S. , but how facebook caters to governments and powers around the world and that is the story. It is a sobering reminder of how facebook deals with these problems. Emily you also reveal that zuckerberg has told employees that facebook would fare better under republicans. What is the context of that remark . Facebook is looking at a regulatory perspective. They are under antitrust investigations. Trump has made a lot of noise aret whether there anticonservative biases in facebook, but they do not believe that exists. Democrats are very organized around their critique of facebook and that was evident in the recent hearing that zuckerberg did. They have a plan for how they would hold facebook accountable that is very scoring scary to zuckerberg. He has been catering to trump this year, answering his questions and problems, and our sources tell us he has not frier, check it out in the latest news. Great reporting by sarah. Coming up, we will have more on Bloomberg Technology after this quick break. We will be right back. This is bloomberg. Welcome back to unityberg technology, Technology Getting out of the gate today. The maker of the backend platform that helps drive the creation of video games, architecture, filmmaking, advertising, even car making. The ceo joins us now. John, talk to us about the debut and your reaction to it. So happy to be here. Thank you for having me. We debuted 15 years ago. Not a brandnew company. What we make is the Underlying Technology that powers half the worlds games. We are the underlying outfit. Are 3700 strong, growing thedly, and we debuted on simple view. Emily talk to us about the environment and a decision to go public when we are in the middle of the pandemic. Huge amount of Economic Uncertainty ahead. Without the ipo window would be completely sealed we thought the ipo endo would be completely sealed shut, but you are one of the companies that made it out. I did you make that call how did you make that call . Picked the day to go public around february, before the pandemic, and we thought back then was not september would be a miserable window to go public. Depicted anyway. We thought we had a Strong Company and despite the turbulence that can because i uncertainty, we thought we would be one of the few companies that would make it out in september. On the backend of the pandemic, we thought it would be the worst window in history. And we said we are still gonna go public. You, our ability to tell the future of the stock market and the open window for ipos is about as wrong as you can get. We did not pick the window because of its strength, we picked it because it was right for us. It happened to be a good window for ipos. Your largestf customers are customers on google app store, google play, what is your take on the latest attempts by the u. S. Government to push bunnies like tiktok and andompanies like Tiktok Wechat out of the app stores . Creates i it think competition creates utter outcomes for all. Blocking people from coming into the marketplace, i do not think it works long term. I definitely understand the broader notion in American Government that they want to do what they want to do on the political front. I cannot really speak to the politics. That is not my place in the world. I take these politics as sort of the specifics of an environment that i have to operate in. We are successful in the west. We love our business here. Thankfully, i am not tiktok. Games . What about you have big customers that are on the app store, what do you take what is your take on the Battle Royale between epic and apple and google . Joe brilliant ceo at epic. My take is simple. Enormously from apples ecosystem. Half ofpp store, around all mobile games a little bit less than 1 are built in epic, so in terms of whether it affects us, it really does not. The time that i have played the game, i have loved it. Other than hoping that there is peace in the world when it comes to technology companies, i do not have a horse in the race. I do not need to call it. Emily there was a lawsuit filed against your company alleging that employees including yourself have it involved in Sexual Harassment or creating a sexualized atmosphere by a vice president. What have you done to address those allegations and where does that stand at this point . These. S really all it is really old news. It was not news in begin with. We denied it in its entirety. While there might have been an opportunity for arbitration, nothing is being arbitrated. Proud of the people who work at this company. So proud of the culture. Ityou look at what we did, togetherst in it action. I will tell you that i encourage you to spend time, wander the halls and asked. We are so in it together, so aligned, so supportive of one another. Bad news cycles will happen. It is what it is. Emily i might take you up on that, john. Last question. What you see the biggest opportunity for growth in this environment . Video gaming is huge in the midst of the pandemic. Mentioned, now, as i the market leadership is an 190 countries. Beyond that, we are showing strong success in markets like architecture, technology, construction, huge opportunities there. Autonomous driving, robotics. At unity, we think of ourselves as growing and reaching beyond into other industries where we can take advantage of our tools. Emily alright. John riccitiello. Thank you so much for joining us. Snowflake, ally, having successful debuts this week. We will wrap up the tech ipo frenzy. Nasdaq ahead of stings. Next. This is bloomberg. [narrator] this is kate. Hey. [narrator] she takes two prescriptions. Kates son jack, takes one too. Kate works hard, and thought she had good insurance. But she still pays too much. Thats no good. So kate downloaded the goodrx app. Now she can compare prescription prices, to find the best discounts. She even beats her insurance price. Good for you kate, good for you. Goodrx, stop paying too much for your prescriptions. Download the free app today. We are thrilled with the reception. Really started assembling our Institutional Ownership over a year ago so this is not something of the last couple of weeks. We had people buy into the offer. Innovate to build a durable, sustainable, longterm company. It is not about the first day or first few days of trading, it is about that quarter after quarter of delivery so you cannot only deliver on the shareholder value, but continue to go after the large 50 billion we are trying to tackle. We are very focused, especially in the past four months, in understanding whats happening during covid. Whatever happening with the ipo during the first day of trading. We did the model to get it to the right price as we go out. From that point on, we trust the market to stabilize the price. Emily welcome back to Bloomberg Technology. You just heard from the ceos of allnowflake, jfrog making their ipos this week. We also heard from the ceo of unity technologies. With more on the effort to land tech ipos during the pandemic, we have jeff thomas, head of west coast listings for nasdaq. Thank you for joining us. I know it has been a big week for you, probably a sleepless week as well. Talk to us about what it was about this week. A month, two months ago, without the ipo window wast sealed shut. This week, explosions out of the gate. What is it that gave these companies such confidence . Jeff a lot of companies were targeting to come out right after labor day. This is the first crop. We have busy weeks for the foreseeable future leading up to the election. By the way, this is the first week we have talked about Tech Companies. In august andos nasdaq. You are seeing an explosion across health care, special purpose acquisition companys, and other Tech Companies are getting into the game. It is a wild ride. Emily what are the next weeks looking like for you . Jeff we have a busy lineup. One of the big ones coming up is goodrx. We have a lot of other big companies. We have news sponsors forming. Interestingly, we are seeing a lot of great business combinations. Valentine announced they will be doing an acquisition and listing on nasdaq. Emily now, you compete with the New York Stock Exchange for listings. Theyve got snowflake, volunteer in the next couple of weeks. Talk to us about the state of that competition. How big a deal is it when you lose a company that big . Jeff we compete seriously with every listing. We have won over 85 of all companies. When it comes to competition for listing, it is not just the ipo. Weve had a number of great eurig, dr pepper announcing a transfer. That is over 180 billion of market cap that will move their listing over from new york to nasdaq, so we are extremely proud. That is based on a Value Proposition of helping our customers through the Investor Relations assets. Helping that with their branding and messaging with investors and consumers. And some really exciting index opportunity especially with the nasdaq 100 which has been on a tear this year. Emily ok, but you do put a lot of work into trying to win these companies over. Airbnb for example also expected to come out this fall. They have not made a decision on nasdaq versus nyse. What conversations are you having with them to convince them to go your way . Jeff one of the things we talk about is how can we make your ipo day special for you . One of the things we did this week, we had jfrog and sumo go public. They couldnt travel to new york to celebrate with us there. We hosted an opening bell ceremony in Silicon Valley on wednesday and thursday morning, ringing the bell at 6 30 a. M. Thank goodness, the smoke cleared up and we were able to get cool temperatures. It was an amazing celebratio