To the Treasury Department to cover all of the expenses. House majority whip Steve Scalise reported to congress today, his first day at work since he was shot at a congressional baseball practice more than three months ago. The louisiana representative was welcomed back to the house with a standing ovation. A big three of former u. S. President s showed up at the Opening Ceremony of the president s cup, the first time three u. S. President s have attended the matches together since the golf event teed off in 1994. The pga preparing for a visit by trump on sunday. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg technology is next. Emily im emily chang, and this is bloomberg technology. Coming up, toshiba seals the deal. An 18 billion agreement to sell its chip unit to a bainled consortium looks set to close. Rokus shares took off, despite being priced at the high end of the projected range. My wideranging interview with the ceo of microsoft on his new book and building upon the legacy of Steve Ballmer and bill gates. First, to our lede, the largest tech deal of the year is one step closer to being finalized. Toshiba has finalized an agreement to sell its chip unit to a group led by bain capital. The deal is worth nearly 18 billion. Toshiba needs to raise cash to pay for billions in losses in its u. S. Nuclear business or risk being delisted from the stock exchange. The Tokyo Stock Exchange. It includes tech heavyweights like apple, dell, and others. Even after months of contentious negotiations, the deal could still be in jeopardy, thanks to toshibas partner in the chip business, Western Digital. Joining me, ian king and alex webb. Ian, i will start with you. We are not close to a done deal yet, are we . Ian we are as close as we have been over these months. Weve had a signed deal almost several times. Western does not like this deal at all. Emily why not . Ian its very bad for them. Theyve said all along, the last thing we want is competitors in their annex. Emily why does apple want to do this deal . Alex it seems like some sort of widget in the iphone, but the reality is memory drives a lot of profit for apple. When you buy an iphone, youve got the base price. To get more memory, you pay 100 or more. Apple might be paying less than 20 for that chip. Its a big way of boosting the money they get from every single iphone. That is important right now as we see demand for smartphones flattening. Emily could Western Digital really hold up this deal . Whats happening right now . Ian they say they can. They are part of the joint venture agreement. They have invoked their right in california. In theory, that arbitration could decide whats going on right now is counter to the terms of their agreement and try to overturn it. Emily if indeed this does happen, is it enough to prevent toshiba from being delisted from the Tokyo Stock Exchange . Ian they have gained a lot of interim loans which are contingent on this deal being closed, that this money comes in. They also have some contingent liabilities regarding the nuclear business, which they have to cover. This money is enough, if they can get it done ahead of time. Emily weve been talking a lot about supply chain issues for apple with the iphone x. How would this impact their supply issues . Alex having this doesnt affect any of the recent supply issues, but ensures there are still a multiplicity of suppliers bringing these chips to the table. The reason they dont want to risk the memory chips, if there are fewer players in this place, if Western Digital was to get their paws on the business, apple is probably scared that the price would rise. Ian the biggest monster in the background is samsung, which has 40 of the market for these type of chips. You can imagine the type of deal they will be putting apple in, given that they are a direct competitor. Apple really needs to keep lots of healthy suppliers to counterbalance samsung. Emily put this in the Bigger Picture for us. If it happens, how does this affect the broader chip sector, where weve seen a lot of consolidation over the last year . Ian this helps things continue as they were. This isnt really a consolidation. If Western Digital had been able to succeed with what it was trying to do, this would be more consolidation, fewer suppliers. This would be not in the interest of apple and other big customers. Emily what are you hearing from the apple side of the equation . Alex they have confirmed that they are investing in this. Apples stake is going to be about 1. 47 billion. American companies are not allowed to have any input into the operations of the companies, so they will be a silent partner, but they are trying to help it get over the finish line. Ian to get this deal done in time, you need to go through antitrust approval in japan. If a Foreign Company has a bigger stake, that becomes harder. Theyve tried to divide it up between several companies so nobody has a controlling stake and there are no worries about japan losing its last great chipmaker. Emily any more clarity on what we discussed yesterday, the supply chain issues facing the iphone x in this moment . Alex the waters are still as muddy as ever. I am afraid we might have to wait until november 3. And see people getting disappointed. We are still trying to get to the bottom of it. Its very difficult to get behind that very hard, shiny, aluminum curtain. Emily alex webb and ian king, thank you so much. We will keep watching for this deal. Well, twitter has disclosed details about suspicious activity on the social media site during the 2016 president ial election. In a blog post, twitter announced it disabled 22 accounts after reviewing information from facebook showing connections to bogus 450 accounts on the companys social network. Twitter revealed an additional 179 related or linked accounts. Twitter executives visited capitol hill as part of the house and Senate Investigation into russian interference in the 2016 election. Democratic senator mark warner commented on the meeting, saying the briefing was quote, deeply disappointing. And that twitters response was inadequate on almost every level. Coming up, gopro unveils its most powerful camera yet. Could this be the key to the companys turnaround . We will hear from the ceo, next. We are Live Streaming on twitter. Check us out at 5 00 p. M. In new york. This is bloomberg. Emily taskrabbit has agreed to be acquired by Swedish Furniture and home Goods Supplier ikea. , the san franciscobased startup said it was exploring a sale after receiving interest from a potential unnamed buyer. Find the gig economy and will taskrabbit helped define the gig economy and will remain an independent entity within ikea. The ceo, philpott, will continue to run the deal. Terms of the deal were not disclosed. Gopro has unveiled the hero6, calling it the most powerful and convenient gopro yet. It is a product the company is betting big on. It also announced a consumer 360 degree camera will hit the market. Bloombergs selina wang spoke gopro Ceo Nick Woodman and asked what investors can expect will drive the longterm sustainability of growth. Nick we have to keep innovating and coming out with new and exciting products that excite consumers. I think we did that today with hero6 black and fusion. Hero6 black is the most capable and easytouse gopro we have ever made. Fusion pushes gopro into a totally new market with 360 spherical cameras. We think this is going to play an Important Role in the future of how people capture and share themselves. We also made important advancements with karma. It now has new features that allows it to film whats above it, which is unique in drones. Gopro is continuing to innovate and excite consumers. Selina how else are we going to see it evolve beyond the traditional action cameras . Nick well, a big part of gopros future is we now see a gopro as an untethered lens for your phone. What we mean by that is a gopro now automatically copies any new photos and videos you capture over to your phone and the gopro app creates a video for you. When you use a gopro, its like using a separate, untethered lens that offloads all of its footage to your phone. Really, a gopro is the ultimate capture complement to a phone. As we think of ourselves in that way and we think about new types of gopros, new types of untethered lenses, we think we can dramatically expand our market. Selina action cameras are maturing. Smartphones are getting even more durable and waterproof. Whats your pitch to those consumers who say we dont need another camera, my smartphone is good enough . Nick well, i think that a phone is a phenomenal camera. Its often in your pocket. Its right there reactively when you want to film somebody or Something Else happening. But theres a lot of activities where you dont want to pull out your phone. You want to be more in the moment, and you also dont want to film somebody else. You want to film yourself. And so, gopro, with its untethered lens strategy, we think that we can make lenses that complement somebodys use of a phone, but not required them to pull the phone out or have the phone on them. Selina the hero6 is using a customdesigned processor. This is the first time. Why go this route . What types of challenges are associated with making this yourself . Nick designing and developing a processor with a partner, as we did, theres always risks involved, but theres also a risk that when you are reliant on others innovation and ingenuity that they put into their own work, into their own processors we found that what we wanted to do with the hero6 black, we couldnt do with any other processor on the market. We had to develop our own. It allowed us to hit cost margins. We were able to hit performance levels that would otherwise have been impossible. Selina last year was a challenge. Nick we are taking our destiny into our own hands from a technology standpoint. Selina last year was challenging from a technical standpoint. There were some delays. What have you learned from those experiences to make sure this years products are seamless . Nick we are doing fewer things better. In previous years, we had other businesses we were running, like our media business. We had many programs going on and products that consumers never saw that were more targeted towards professionals. We cut all of that, and focused gopro on what it does best and what our whole vision and mission is, to help people capture and share their lives so that they can celebrate the moment in a way that they just cant with any other camera. Selina being a Hardware Company is very difficult. In the Public Market gopro , shares have fallen quite dramatically since the ipo, so what are investors missing . Nick we are growing again. The previous comp of 2016 people think unit sales are way down, volumes were higher in previous years. But what they need to look at volumes of our Premium Products , 299 and above are growing. We are selling more of the products that matter better margin for gopro and make us more profit. Gopro is healthy and growing. I think investors are starting to take notice. Selina lets talk about growth. Drones. Many say that the Market Leader has superior features and a similar price point. Given the market effect, how much of a revenue driver do you see drones becoming for gopro . Nick we are really excited about drones. Karma is doing well. It is a phenomenal accessory for the gopro community. It is very versatile, with a detachable gimble. Our customers have spoken. They really like that flexibility, versatility. Karma continues to get better. In a week today, we announced followme features as well as a look up feature, unique to drones. We will continue to innovate and advance our drone offering into what comes after karma. Emily that was gopro Ceo Nick Woodman. Famed investor jim chanos said in june that he would give up his short bet against tesla once begins making money. If so far, they are burning up cash, not profitable. Investors keep pushing back expectations for when the company will be profitable. Take a look at this chart, g btv 6411. Bloombergs whatd you miss . Spoke to chanos who said the that while elon musk made electric cars sexy, the profits are not there. Jim this company is supposed to be making money now. It is supposed to be making money now by 2020. Im guessing by 2019, we will hear, by 2025. This company is structurally unprofitable. Its capital structure is way too leveraged. Emily chanos also discussed bitcoin, saying the allure of the cryptocurrency is to use it in the black market. More on that on friday. We look at how wall street greeted roku, next. If you like bloomberg news, check us out on the radio. Listen on the radio app, bloomberg. Com, and, in the u. S. , sirius xm. This is bloomberg. Roku lets talk about now, which went public today. It was a good day for roku. What happened . Billion insed 219 their ipo. A good tech deal after a couple of flops this year. It was good timing for them. You know roku as the device seller. They sell the boxes where you can stream video from things like netflix and things like that. Outside of the device, they are making a lot more money and what they call platform. I asked the ceo why this is a bigger thing for him. Take a listen. The fastestgrowing content is adsupported content. One of the top terms that consumers search for is free. We are transitioning from mainstream tv viewing via linear to overthetop. As consumers move their viewing more to overthetop, they want a few xbox services, netflix, amazon, but they won a lot of free, adsupported content as well. Alex those advertisements are where roku is making more money. They are pushing for selling ads within the videos online, not just taking a cut of the subscriptions from the likes of netflix or hbo. Emily how does roku plan on competing with the likes of apple and amazon . Alex i asked the ceo this question. He told me while they are number one right now and they will continue pushing that position, they dont rely on marketing. They like customer reviews. They are relying on their current status and also the fact that their platform is basically the switzerland of streaming. Any channel can get on them. Amazon prime, users can queue up their videos via roku. Same with netflix. If you want espn live, you can do it on roku. The likes of apple and amazon do not let everybody on to their platform. You get it all if you come through roku. Emily if they are switzerland, who are the competitors . Is it apple, amazon, someone else . Alex it is apple and amazon and watching on other devices. Roku doesnt have a tablet or mobile offering right now. A lot of cord cutters are watching more video content on those devices where they dont have a play. Their bet is still the people like to watch longform video on the tv. Whether or not that plays out, i know their new public investors will be watching that battle closely as well. Emily day one of this ipo, successful so far. Others have not been so successful this year. How are investors watching this, with regard to the broader Public Market . Alex its been slow. Im here, talking to my sources on the ground in san francisco. People are talking about 2018 as being a big year, which is disheartening for the ipo reporter and the likes of the folks in this round. We broke news on quantergy. You have some smaller names that are preparing, but these are not the big, blockbuster deals that you want. The number one one that i will be looking for, the big one, is still going to be dropbox. Emily is that happening this year . Alex we have said they could file as soon as this year, so thats where the situation stands. That will probably be the next biggest ipo. We are also watching spotify and that potential direct listing. Emily alex barinka, great to have you here. The story we tried to tell you earlier, e. U. s commissioner for justice has said facebook has become a, quote, highway for hatred. She deleted her official facebook account because she was tired of being trolled. She then announced new e. U. Guidelines, urging companies to do more to tackle terrorist content and hate speech. Speaking with me last week, she explained what the e. U. Did not want social media space to become. We want in the European Union to have internet which will be hatefree and which will not open the space, i would even say, highway for hatred and inciting violence. Emily coming up, my wideranging conversation with ceo Satya Nadella. We turned back to 2014 when he first took over the tech giant. A feature i want to bring to your attention, our interactive tv function. Watch us live. If you miss an interview, you can go back to it. This is for bloomberg subscribers only. Check it out. This is bloomberg. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. And 12 29 p. M. In tokyo. I am Tom Mackenzie with first word news. In japans latest economic data, industrial output grid a group more than expected in august, up 2. 1 percent from july and 5. 4 from last year. Inflation moved higher. Core Consumer Prices rising 0. 7 on the year, the most in two years. Retail sales fell 1. 7 from july, the first drop in three. Toshiba has signed a final agreement to sell its flash memory unit to a group led by bain capital for about 18 billion. Apple,sortium includes dell, and sk hynix. Spain is said to be aiming to take the unit public in two or three years. Toshibas estranged partner Western Digital tried to buy the deal itself. The plight of muslim refugees in myanmar has become a human rights nightmare. More than half a Million People have fled their homes in the northeast and are living in squalor