Million for his debut fund. What he plans on doing with the money. That is ahead on bloomberg west. First, uber making the rounds on wall street. The company is seeking a 1 billion credit line from a handful of banks. This according to the wall street journal. The company is in talks with six or seven banks. Uber declined to comment. Bloomberg reported uber was planning to raise 1. 5 billion in a new founding round funding round that would boost its valuation. What does uber want with all this money . Is it an ipo in the near future . Katie benner joins me now in the studio, and from d. C. , gabe klein who works as a special venture partner. Gabe you just invested in lyft. , you are the perfect guy to be talking to about this. This credit line is something that facebook, twitter, alibaba had done before. How close are we to an uber ipo . Gabe klein the truth is we dont know. I think that it is typical for Companies Like uber. Facebook did this they went out and started to build Close R
Between christmas and new years. I do not know. Maybe they should finish their work. You will see some push in the next few days to get a small deal done. Viewers are fan of the process. Anything that gets done needs to be done quickly before new years to be signed into law. Today is the 27. And so you have a few days left for lawmakers to make a deal. The president s should land at some point. There is a 5 hour time difference. They have to figure out something. It seems likely will go over the cliff. It has been looking like that before the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. Senate democrats saying we passed a bill that raises tax rates on incomes over 250,000, we ran on this and this is what we are offering. House republicans were saying, no, we want to negotiate something, f
On his 26year career. And a discussion on corporations and stock values. Dan burton is retiring from the house this year after 30 years in office. The 15term congressman represents the Fifth District in east Central Indiana which includes parts of indianapolis and the surrounding suburbs. Earlier he talked with cspan about his past investigations of the collective demonstration and the oversight ruled congress. This is 30 minutes. As you exit the institution how would you say it stated . It has changed a great deal. It is not the same as when i came 1983. There seemed to be more comedy. Tip oneill was speaker. I will never forget he was the first time he was on the floor raising cane with democrats. He had someone take his place and he came down and started giving me the dickens. After that we became very good friends and played golf together. Michael was a wonderful leader. There was a spirit of camaraderie even though we had differences politically then that we do not have now. Now i
Debt. The debt is a huge problem just like a cancer patient has a problem with pain. But it isnt healthy to be but it is analytically unhelpful to be thinking in terms of the debt crisis. We might as well refer to the crisis we are going through as the savings crisis, a crisis caused by too much savings. You have never heard anyone from bloomberg refer to it as a crisis of a glut of money with nowhere to go, but it is, just as much as it is a crisis of debt. Lets begin at the beginning. Lets talk about debt. Reading the mainstream outlets, newspapers, or listening to the idiotic stations like fox, hyou would think that it is possible to have capitalism without debt. Recall of feudalism. Well, it isnt. Once, it was possible to have an economy with debt that is marginal. Recall feudalism. What was the process that led to the accumulation of wealth . It began with production. Peasants work on the land. They produce wheat, corn, so production came first. Then came distribution. That would
Bloomberg television. We are happy to be back. Lets talk tech. Another big tech deal to talk about, priceline is buying opentable 42 . 6 billion. For 2. 6 billion. This is crazy. Around isy head this the new normal, is this where we are supposed to be . Or is this the return of 1999 . In 1999, i loved opentable and urban fetch. But where those now . It a lot more worthable that uber is 17 billion. Er is a life changer. We will have to agree to disagree. Opentable is a life changer for me. He just eats at mcdonalds, they dont take reservations. Every time i try to use opentable, i can never get a table. Instead, i call, and restaurants say the same thing. 5 30, 10 30, i would rather they off. Say screw said, weo of priceline think it is a good fit. They called it an adjacent business. We have similar Business Models. You are catering to the same sort of customers. There is definitely true to that. These are the same people spending their money in different channels. One thing i was intr