headlines in beijing. officials say relations with the u.s. are better. china's unpredictable ally north korea attracted criticism after missile launches. they say that pyongyang should abandon its nuclear program. global news. 24 hours a day. powered by more than 2600 journalists and analysts in more than 120 countries. have a look at the markets right now. half of 1%. shanghai to point out. nothing much across the markets here. shenzhen is down. ♪ caroline: this is "bloomberg technology." coming up, the wikileaks data trove. the organization releases thousands of documents from the us tonight -- -- espionage playbook of the cia. are on a short ipo honeymoon. spaceff bezos's colonization trinkets the first paying customer. first to our lead. wikileaks has published thousands of documents taken from the cia. massive toolkit cia spying techniques. they have the ability to access information from messaging apps. you can also report malware on microsoft windows and cap into samsung smart tvs for surveillance. we do not know how wikileaks got its hands on the material. the cia says the agency does not comment on the authenticity of the documents. we are discussing the impact of this massive data dump. security advisor who has worked with homeland security, and also the former facebook head of product security. gentlemen, thank you for coming today. i would like to get your take. how sophisticated is this? there are reports that day are getting behind the encryption? >> i think we are uncertain about what they have right now. what it appears is they had information from the cia on their hacking techniques and what they are doing to take advantage to exploit various devices and programs. what is also going to be interesting is how they found this information. it seems to me they had somebody on the inside. this will be yet again a major breach by an insider of the united states intelligence community. that is just as troubling as the leaks themselves, because how can we ensure our most great information is held and secure in the way we need and trust? begs the it dates -- question whether classified information will remain classified. >> we have demonstrated time and time again that the great don't remains a great for long. there are far too many secrets, secrets the impact of civilians on a regular basis. i have a samsung tv in my bedroom. my daughter has one in her room. it really raises the question -- the u.s. has the policy of disclosing the liabilities as a means, except when they are needed in instances of national security. this seems to not honor that agreement. this hoarding of vulnerabilities that impact law-abiding citizens. windows vulnerabilities are not disclosed or brought to the public, they put us all at risk. caroline: the realms of possibility, had you always assumed this was possible by the cia, that they were able to get through the encryption and we just weren't being told about it? >> i think we should all believe they are trying their best to defeat our most technical means. it is in our interest is the u.s. citizen, while on one hand it may scare you, on the other hand you may also want your intelligence community to have abilities to find out information that may be in the hands of an adversary. on one sense you apply their ingenuity. on the other hand, you need to be concerned about how far this is going, and this is another rift in the washington and silicon valley intelligence community divide. what it seems to be as they are indeed targeting more and more devices that are connected, and indeed they are also targeting the applications that are built on the fundamental premise of encryption. caroline: alex, you have a bounty platform connecting the community with ethical hackers. our companies like facebook, where you used to work, actually putting enough in terms of rmb to make sure they are able to combat? >> something that everyone who uses our platform and engages with hackers realizes of course there are vulnerabilities. that's not surprising. the surprising news is that there are vulnerabilities identified that have not been immediately recorded and remediated so we are all protected. many organizations take those steps to try to identify as many as possible, but nobody believes they have found them all or that they are the only ones to have found them. which to me is the most egregious part of this experience. it takes a certain amount of arrogance to think you are the only one capable of identifying that vulnerability. caroline: what is really notable about this revelation from wikileaks is the document shows the tools are being used 2013 to 2016. it is really recent. the vulnerabilities still be there? or does this show that sometimes things can get a little safer, and it shows that funds can be broken into and then hacked? >> i think many of those are probably still there. as we speak, people are trying to go through the information to see what was disclosed, and there is work being done to ensure the holder being passed -- holes are being patched very rapidly. the other interesting angle is the continuum. it is no longer leaking information to an enterprising reporter. it is giving troves of documents to somebody to publish widely. that calls into question how we are going to actually have an intelligence community. the question for the hacker community is is this the behavior they are encouraging, which is to take all the information and disclosed that rather than just one issue? caroline: wikileaks has been around for several years. whether you like it or not, these are pieces of information that get into the public remain -- domain, and they feel it is a force for good. what do they believe? that this is the later go about it? >> disclosure guidelines are very expressive. the first thing you do is get into the hands of the vendor or manufacturer. i would encourage the cia and u.s. government to do the same as frequently as possible. it's clear this information has leaked and is in the hands of other people, at least wikileaks at this point has access to these vulnerabilities are cyber weapons. i would encourage them to follow the same practice of disclosing vulnerabilities so we can compete. caroline: tough question, but could this actually compromised cia operatives at the moment? >> very well may be. this is why i think these issues cannot be magnified enough. the damage that is happening to the community, snowden, major leaks at the nsa, now this at the cia, this is a steady drumbeat of issues putting sources and methods at legitimate risk. caroline: is it steady, or could it be getting faster and faster as we had been an essay that nsa that doesn't take it along with the current administration? >> i think they are more and more and everything transparency. -- embracing transparency. if people believe something is unethical, they have a new norm to share information. it was not that long ago that if information, they would hand it to a few, you would not just posted online. that has changed the calculus. there's also the ability to get something for yourself. some people are selling this information. whether you are in a corporation or a member of the intelligence community, you have access. we need to ask, what we are doing to actually detect and deter the leaking. better employee coaching and monitoring. caroline: sadly, think this might happen again and you might have to come and share your expertise again on "bloomberg technology." one stock we are watching, hp enterprise. they announced a $1 billion deal. it is a 45% premium. the ceo meg whitman has been spending more on acquisitions in an effort to return sales growth. this acquisition extends the reach into flash storage, using memory chips that are much faster than traditional hard disk space storage. another stock to keep your eye on, snap down 21% for the week so far. why investors are stepping back from the company. and a reminder that all episodes of "bloomberg technology," are live streaming on twitter. check this out weekdays at 5 p.m. in new york, 2 p.m. in san francisco. this is bloomberg. ♪ caroline: now a story we are watching. china's second-largest telecommunications maker will plead guilty and pay a fine of more than $1 billion for violating u.s. laws, restricting the sale of u.s. technologies to iran. that is the largest criminal fine in exports control or sanctions case. according to court documents they allegedly shipped $32 million worth of u.s. items to iran between 2010 and 26. -- and 2016. they said in a statement, they say they take responsibility for their mistakes. the stock we are watching snap, it appears some of the initial shine is wearing off. this despite the tech sector as a whole closing higher in trading. shares of snap on the other hand dropping 11% after monday's plunge. this comes after a 50% surge in its first two days of trading last week. why have investors had essentially a change of heart towards snap? our bloomberg intelligence analyst joins us. not only the change in heart from investors, but why the negativity coming from analysts? there are seven recommendations on the bloomberg, but not one is the by. >> the key issues here are valuation and user growth. if you look at the valuation, it is more than 24 times price to forward sale, making it one of the more expensive stocks in the u.s. tech space today. that, and instagram competition, and slowing user growth, worries that that will worsen soon. those are the big reasons you are seeing the negative reactions. caroline: i was looking back at twitter. it rallied 70% on its opening day and managed to continue to push up its overall evaluation. meanwhile, facebook eroded a lot of it post-ipo, then several months later started to rebound. should we be more embracing of the letdown? >> most of the tech ipos over the last 10 years, when we look at the price movement, the first couple of months the quality is high because it is dictated by the supply demand of stocks and interest level. just before the lockup period, you see the movement changing direction. this is a very common thing we have seen in many ipos. we saw the gopro stock had tripled in the first couple of months of trading and then fell after that before the lockup period was up. how much the short interest is, the free flow, those things take over the dynamic of the trading strategies in the first couple months. caroline: you mentioned heady valuation, and the daily user base, 158 million. there was an analyst putting out a note saying it could be slow at 3% in january and february, and half the case of instagram. what does snap needs to pull out of the bag? >> they need to make sure the trajectory of user growth and engagement is staying put in light of instagram competition. if they can show they are fighting back, you can see change in sentiment. but if they do this in the next two quarters and we see signs user growth is not going to pick up, this will not be good for the company. caroline: interesting you mentioned gopro. it was notable that all the time snap was trying to make itself out to be a camera company, stopping association with facebook and twitter. then you see gopro today at a record low with its own share prices. can you give us a sense to what to look out for? >> essentially with gopro, the market for the camera seems to be saturating. we have not seen a lot of growth. if you look at the expectations, it's only 5% revenue growth. competition is heating up in drones. you have supply chain issues and recall before, which hammered expectations early on, but now the competition is increasing. xiaomi is getting into the market. pricing will fall. the revenue side of the equation is actually worrisome based on the and market dynamics in terms of competition. caroline: always great to have you on. all the stocks we should be watching, of course snap. bloomberg intelligence senior analyst. we are also watching pandora shares plunging 7%. this after the liberty media ceo said the stock is overvalued and it is unlikely this company would be interested in buying it at the current price. liberty owns sirius xm and has discussed buying pandora in the past. they say today it would be more likely if the stock was closer to $10 a share. pandora previously rejected an offer for $15 a share. coming up, will blue origins reusable rockets debut before the end of the decade? and jeff bezos just expanded on his vision from washington. this is bloomberg. >> my vision for blue origin, the long-term vision, is millions of people living and working in space. we need to bring civilization to a lot of reasons. ♪ caroline: hyperloop one is making waves in nevada. they revealed the first images of the dead loop. this is the first full-scale test check for the nevada desert. the goal is to get a test run in the first half of the year using this as a concept to prepare for construction for commercial installation. number one will focus on goods, and will eventually transport passengers at high speeds. meanwhile, blue origin has seen a lot of action. on monday blue origin founder jeff bezos tweeted out pictures of the engine of the rocket. one day later, he is announcing the first paying customer. blue origin has signed a satellite operator as its first client, as the company prepares to launch more powerful rockets in the next decade. jeff bezos announced the partnership at the satellite conference in washington, and invited the ceo on stage. >> a few months ago, we started approaching customers. he was very interested and right away it was a great partnership. they have done so many new vehicles in the past. we couldn't hope for a better first partner, because they will be able to help. caroline: joining us now from washington is bloomberg's reporter, who was at the conference. great reporting. can you tell us, a paying customer, how important is this? >> it is a huge step for blue origin as a company. this is a space exploration company that has lived on jeff bezos's dream, and now they have revenue in the forms of a paying customer. it is notable this was made at satellite 2017. this is the satellite industries premier networking event. this is the first of what will likely be more paying customers in the future. caroline: how does spacex and virgin galactic compared to wear blue origin is not right now? reporter: i think what we are seeing in the space industry is continuing development of new and more powerful rockets capable to launching satellites to geostationary orbit, which is very far away. new glenn is a rocket blue origin is working on. they say the launch is for 2021. it is still a couple of years out. it will be a very powerful rocket on the scope we have not seen in this country for a while. you are seeing jeff bezos expand beyond space tourism to commercial customers. caroline: by a phenomenal leap. there's a great story on bloomberg about taxpayers, and saying they might be on the hook the next time private companies fail. is this something you think is becoming known by the general public. or is this something private companies should have to look to themselves? reporter: i think the launch industry as an industry is very familiar with mishaps. whenever a rocket explodes on the launchpad or after flight, it is a setback for the industry as a whole. images of burning rockets doesn't do anyone any good. the insurance question is an interesting one. often times there is dual insurance, or the way insurance deals are structured, it tends to be different for each provider. going forward you will see bigger, heavier more powerful rockets capable of launching heavier and grander payloads. if you are a satellite company, you have more options. you can go on spacex, eventually blue origins. for the satellite industry, this is great for them. they have more options and there's more competition, which will ultimately lower the cost for everyone. caroline: great for satellites. what about great for the consumer desperate to get into space? virgin galactic has been pushed back. do you have any timeframe on what blue origins is planning? reporter: they are talking about taking it to the edge of space for a few minutes of weightlessness, and then bring them back. i think that is in the next couple of years. they have leaned on what they have learned from the test flights to help develop new glenn, the rocket they are talking about. caroline: just a reminder of what jeff bezos's grandview is here. we know elon musk is a visionary who looks at of living outside in space. what does jeff bezos hope to achieve? reporter: they are similar in that they are both tech billionaires who made their fortunes in the internet, and immediately piled those fortunes into private space companies. jeff bezos started blue origin 15 years ago with the millions he earned as amazon ceo. they were relatively quiet until recently. his vision is similar, he wants to have millions of people living and working in space. caroline: dana hull, covering all things satellite. still to come, gopro shares edge up slightly after hitting a record low, but how can the company recover with analysts piling on the fresh downgrade? check us out on the radio. listen on the bloomberg radio app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ >> it is 1:30 in hong kong. the february data out of china had delivered a surprise first deficit in three years. 45% increase in exports. exports to the u.s. rose 12%. american imports raised 41%. that was a trade surplus worth $52 billion. foreign affairs made headlines in beijing. officials say relations with the u.s. are better. --na's on pretty double unthinkable ally, north korea attracted criticism after launches. they said pyongyang should abandon the nuclear program. volkswagen is being sued in australia over the emissions scandal. bw knew about the emissions is the charge. they're reviewing the lawsuit that city have no medical benefit for drivers. cards, a company is in talks with volkswagen offering access to its home market. specifyany declined to the time fly of the competition. global news. 24 hours a day. powered by more than 2600 journalists and analysts in more than 120 countries. quick check on the markets. take it away. is a little bit of a mixed session today across the asian region. we are seeing outside coming through in hong kong. you're seeing good movement coming through from some of the chinese listed stocks from some of the surgeon import data. flat finishes in australia today. we had stronger again weighing on the nikkei which is up by extents of 1%. we are seeing weakness coming through in farmer stocks. nursing health stocks down by 3% at the moment. movement coming through in farmer stocks as well in japan. let's have a look at the korean won. it is strengthening. 1146 at the moment. it is been a solid move coming through recovering from a dip as china suggested that north korea suspend its nuclear program. also the aussie dollar has risen on the back of that trade dollar coming direct china today. we live from london at the top of the hour. ♪ caroline: this is "bloomberg technology." i'm caroline hyde. our top story this hour, a massive document dump by wikileaks, some indications that could rock the tech industry. the controversial organization founded by julian assange posted 8000 files on tuesday. they supposedly exposes hacking tools including malware and viruses the cia uses to cyber espionage, and revealed the agency can break into devices before they can be encrypted by apps. a spokesman said the agency says it does not comment on the content of such documents. wikileaks says that is the first of a series of leaks to come. gopro shares closing at a record low tuesday despite the tech sector edging higher overall. shares down over 2% earlier this week. goldman sachs lowered its rating to a sell. this comes as they hit a rough patch, the company reporting disappointing earnings. forecasts in february recorded the comment in november, and cut 15% of the workforce. joining me is selina wang who covers this company for us. let us know what prompted goldman sachs and citigroup to start downgrading their viewpoint. reporter: there was already significant bear sentiment. there were several quarters of bad earnings, one mishap after another. execution errors like the camera delay, which was the first upgrade since 2014. they had to cut a bunch of employees and get rid of their media entertainment unit. these two companies, city and goldman, they are digesting this information, analyzing it, and putting strong rhetoric to it. we had citigroup saying gopro is the best option in a deteriorating neighborhood, which is not promising. they say gopro will still be a market leader in the category, but the category overall is declining. there is a lot of bear sentiment leading up to this. caroline: just looking at the share price and market capitalization of gopro, $1.12 billion. this is just a $1 billion company now. it's amazing to see how the deterioration's continue. how can they prove they are turning this around? what could they possibly say to start getting the analysts on their side? reporter: i think the picture of the stock price is really a stark contrast from their previous visions. in the first filing they said it would become the software hardware ecosystem with this entertainment unit. with the job cuts we saw them paring down the vision and focusing on what is profitable. the hardware component is the main growth driver, not the smaller unit. in order for them to potentially drive that growth, they need to execute extremely well other next product. these analysts are expecting them to upgrade to the flagship camera, and upgrade a drowned that is a good competitor to the market leader, and hopefully to execute more on their virtual reality options as well. they have a camera rig. they hope to improve upon that. there's a lot of skepticism in the market they can actually execute on all these fronts, given all the challenges they have had. caroline: and they continue to cut their cost-base. that seems to be what some analysts are calling for a feeling that the five megyn kelly dollar promise is not enough. what about also in general the hardware space? that seems to be a tough area to be in. reporter: hardware is hard. we keep learning that over and over. it is really difficult. though pro is not the only company with this problem. we are seeing fitbit struggle with this. it's difficult to be a hardware company. you have to rely on simple consumers and product upgrades. if you don't continue turning out better and more products to diversify your revenue, things will go south. we even see with a giant like apple that even they struggle to struggle to deliver. a company like gopro that started out with a camera strapped to your head, is now continuing with trouble. caroline: fascinating coverage. we will continue to watch this. we will see how the stock affairs tomorrow as it plunged new depths today. selina wang, thank you. federal communications chairman has been nominated by donald trump. a republican lawyer, he has served on the commission since 2012. he's been the chairman since january. the nomination has been sent to the senate. he has called for light touch regulations and has made quick work of trimming regulations. he moved to ease broadband construction mandates imposed when the sec approved charter acquisition of time warner last year. coming up, we speak to one of the biggest peer-to-peer lenders in the united kingdom, funding circle. how the company is airing after brexit, and what is ahead for its u.s. business. that is next. and we would like to bring to your attention our interactive tv function, find it at tv on the bloomberg. you can dive into any of the securities are bloomberg functions we talk about. you can become part of the conversation by sending us instant messages during our shows. check it out at tv . this is bloomberg. ♪ caroline: this week, we have been focusing on the future of digital lending. with the peer-to-peer it lending space picking up globally, yesterday we had on the chinese regulatory hurdles. this time we are honing in on the united kingdom and u.s. the london-based company operates in four countries. joining us now is the u.s. managing director sam hodges. it is a company i know well. first of all, tell me how the u.s. area compares growing the business here than it does in the united kingdom or germany? >> thank you for having me. there are big differences in the markets. the starting point is the end borrower. the u.s. market is much bigger and more fragmented. the regulatory schema is different than the u.k., but overall i think the principles we have learned in the u.k. and european business of i well in the state -- apply well in the states. caroline: what about the growth target for origination of loans? >> we have grown the business precipitously over the last couple of years. this year, being able to grow the origination volume between 75% and 80%, on top of strong performance in 2016, we continue to see huge opportunity to serve small business customers all over the states, and we are focused on delivering high-quality experience for all of them. caroline: what about the credit problems that struck the funding circle in the u.s. in 2016? you have to start making new loans. how has credit scoring changed? >> we actually grew our business from 2016. there were pockets of 2016 loans -- 2015 loans that underperformed a bit, but actually going into 2016 and now in 2017, we feel positively about the overall credit performance. 2016 book is holding up well. our institution as well as our individual investors are happy. caroline: you talk about institutional investors. are we being heavier weighting or similar of buyers wanting to buy them here in the u.s.? >> we form capital in three different ways globally. in the states, we have a number of large institutional players. most recently we announced another $100 million commitment from community investment management, which is focused on social impact and small business. we are really excited about that. beyond that, we have a fractional marketplace. we also have a set of our own funds. over time, we anticipate to see a even balance of those three legs of the liquidity stool. caroline: would you ever want to make loans on your own balance sheet? >> we are licensed in the u.s. we approach the framework on a state-by-state basis. we hold licenses in california and 13 other states. in other states, you don't necessarily need to be licensed, or you can pass for your licensing from other areas. we don't necessarily see a need to get a banking license. we have a framework that works well as it is. caroline: talk to me about the regulatory environment and how it is changing. we were talking about chinese changes yesterday. how is it changing the united states is mark if the new administration going to make things easier or harder? >> with respect to the new administration, it is probably too early to tell. on the one hand there is lots of talk of deregulation across financial services, but the devil is going to be in the details. for now, the world we live in is one where regulation of commercial lending and marketplace lending is split between federal government and the state. there is a high degree of complexity to navigate. we have been making sure we have a framework and approach that works well in the constraints. caroline: what about global expansion? you are in four countries already. are there any obvious areas where the regulatory environment fits into the way you have been funding so far? >> there's a huge global opportunity at funding circle. that being said, we are focused on making our core markets successful. in the u.s. we have been lending four years. in the u.k., we have a dominant franchise, and now in europe in germany and the netherlands, business is going well. for the time being, it is about making that work. over time the opportunity around small business credit information is global, and we are posed to help small businesses all over the world get access to credit. caroline: what may be perhaps the raised eyebrows is that you were growing in the u.k. despite brexit uncertainty. do you think more businesses will look to peer-to-peer lending? within times of political and economic uncertainty? >> there are two factors that go into the strong demand we continue to see in the u.k. the first is growing awareness and enthusiasm about getting credit online. seven years ago, that wasn't really how small business owners got access to credit. now you see lots of great examples about working small businesses and the credit they have been able to receive. the more people are aware of that, the more they go to platforms like funding circle. the other piece of it is, certainly there was some uncertainty one bread that -- when the brexit vote happened. but the path for brexit is still unclear. we are seeing businesses that have an opportunity, they want to invest, and they need credit. that is good for us and other lenders. caroline: funding circles u.s. managing director sam hodges, thank you for joining us from new york. staying with tech, that is the only chinese peer-to-peer lender in the u.s., looking to navigate china's tightening regulations. the ceo spoke with bloomberg about changes she is expecting to see this year. >> this is the year for regulation. i really think the regulators have made a lot of effort and really addressed the most key issues in the industry so far. for the past few years, the industry has evolved from emerging to fast-growing. now i think it is going to enter the optimizing stage with the new regulation in place. caroline: speaking of banking, tomorrow a conversation on "daybreak america." do not miss that conversation, 8:45 a.m. still ahead, the company that wants to be the netflix of fitness. we focus on technology. this is bloomberg. ♪ caroline: uber ceo travis colonic -- kalanick is after pr improvements. his team is looking for a chief operating officer who will be summoned to partner with him to read the next chapter in their journey. last month, a former uber employee wrote about sexual harassment at the company, who is also facing a lawsuit for allegedly stealing trade secrets. uber-like disruption has hit almost every industry, like fitness. peloton is tapping into the demand. bicycles and tablets that let users tap into programs from home. but convenience comes at a cost. carol massar has this story. reporter: this looks like your average cycling class, but it's not. what you can't see in the studio are the hundreds of riders joining in from home. this is one of many companies disrupting the fitness industry. from daily burnt to crossfit, fitness is becoming more about on-demand and on access. there's an increasing number of workout companies using technology to offer members unlimited streaming workout, that lets users take all kinds of classes from different locations, or in the convenience and privacy of their homes. peloton cofounder and ceo john foley likened it to people wanting things on their terms, their time, and with more convenience. >> going back to when you and i grew up and there were 13 channels, now with netflix and all these other video streaming apps, you can watch content and consume content where you are, when you want. i think fitness is the next frontier of that. i think peloton will help pioneer this. reporter: today, some $26 billion is focused on fitness. digital workouts are taking a chunk out of that number. 8% inand fitness was up last year, up from 5% in 2014. at peloton alone, sales more than doubled from 2015 to 2016 could the company made $170 million in revenue last year, nearly three times as much as the year before. foley, who founded peloton in 2012, hopes 2017 will be the company's first profitable year. how do you see yourself? is it an application? fitness equipment? technology? >> at our core we are and innovation company and technology company. reporter: where's the health or the fitness? >> certainly we are in the fitness category, and the first hard-core technology to enter the fitness category. we are not just a stationary bike company. reporter: yet, they do sell their own stationary bike that lets users tap into the workout offerings at any time of the day in the privacy of their own homes. reporter: how many bike owners do you have? >> we are approaching 100,000 bikes in the market. reporter: is that globally? >> we sell globally, but we have bikes all over the world, but we are focused on selling in the states. reporter: what is the most usage? there are rides where you can be in europe, or part of a live class, or you can download an entire menu of different classes. what gets the most used? >> interestingly, only 20% are live. i think the live ones are fine, because it's like the energy of live music. peloton will actually break the fourth wall and give you a shout out. it is very immersive. you are part of the theatrics and entertainment. on-demand is 80% of the rides. it tells you people care about having their instructor and their time and controlling that environment, versus being driven by our schedule. reporter: have your own stationary bike and still want access to peloton classes at home? there is an app for that. reporter: who do you see as your competition? is it soul cycle? >> we are rooting for the category. we love soul cycle, we love flywheel, we love yoga. we are trying to be good in the fitness category. to, your question what keeps me up at night is if apple or google or amazon were to enter our category. those are the three companies to have the technology resources and chops to give us a run for our money. reporter: ipo this year? >> no. reporter: because? >> we are looking to do -- fundraising the next couple months that would allow us to be as aggressive as we want and take our time considering the public markets. reporter: next year maybe? >> maybe. reporter: i read something about a $10 billion valuation in five years. is that real? >> i would be disappointed if it weren't real. that is starting to be in the magnitude of what we are seeing. i think that's on the low side of where we see the business going. reporter: this april, the monthly subscription service app that grants users access to thousands of workout classes around the world, plans on rolling out its own on-demand feature joining companies like daily burn and beach body on-demand, which has been streaming since 2015. or currently, only 15% of people are working out on demand, but dana massey at market research company does not expect it to stay with low numbers. >> we will see the digital fitness trend continue to grow. the new entrance to the market will be more intimate with new technologies, including augmented and virtual reality. >> i think americans are living busier and busier lives, so they want things to work into their schedule and their locations, versus having to go somewhere at someone else's schedule. i think that is a dated concept. caroline: that was carol massar and peloton ceo john foley. that does it for this edition of "bloomberg technology." this is bloomberg. ♪ >> another brexit low. trying to get parliament to veto the terms of brexit. prime minister may now keen to undo the changes. next the uk's chancellor of the exchequer of else's annual budget today. saying britain is well-placed to whether brexit. >> economist blames seasonal factors but chinese shares climb in hong kong. ♪

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