Committee democrats late into colleagues for forcing the bill through. The committee voted along party lines to advance the bill and gop leaders are hoping to take up later this week. A suspected libyan a militant was found not guilty of the most serious charges of the benghazi attack. He was convicted of terrorism charges but acquitted of murder. The attack killed a u. S. Ambassador and three other americans. Two more americans died in a mortar attack at a nearby cia complex. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am alisa parenti, this is bloomberg and Bloomberg Technology is next. Emily i am emily chang and this is Bloomberg Technology. Softbank is hammering out details to grab a massive stake in uber and seeking a discount to invest in the startup. Plus, our exclusive conversation with with meg whitman, as she prepares to leave the company. Friday ofout a wide topics, including her political ambitions. 10itcoin approaches billion, we discussed the true value of the cryptocurrency. But first, softbank is leading investors to buy a huge stake in uber. Its a 6 billion deal goes through, it would add to softbanks direct investment in the worlds get started. The biggest headline is would put ubers valuation at about 48 billion, a whopping 30 discount, after its most recent round of fund raising, where it was valued at 69 million. Joining me now is a managing capital at greenbrier, and prior to that, head of Uber Communications in the americas, our reporter us, who covers uber. Where do we stand right now . I am waiting for the documents to get sent out in the next few hours. Today is the expectation and it is a little behind schedule, as has everything been in this deal. This is the opening salvo from softbank. Saying, we will pay 33 per share, which translates into the 48 billion valuation, and see if we can get enough people to bite at that to need 14 of outstanding shares we want to acquire. Emily whats the likelihood of that . Eric there is a lot of appetite for liquidity and that is what softbank is counting on. People dont want to miss out. Lane, you have been talking to former employees, what are employees talking about . They have a lot of confusion, there is not a lot of information out. All we know is what we are reading in the press and there is not a lot of communication from the company yet, at least not for former employees. A lot of people are wondering, can i sell . Emily what do employees feel about a discount like this . It is still a lot of money. Employee,ink for each it is probably emotional. It is an emotional issue. They have to determine whether the lower value will translate into what they believe the stock is worth. They how does this shakeup power structure . Eric government reforms are tied to this. The 17person board that happens if this goes through, some of task kalanicks power gets restricted because the super voting shares lose power. All of that is contingent on this deal going through. Theyre sort of separate but attached by the board so there is a lot of pressure to get this done. Lane, the reality is, employees do not have much of a say in this. This is down to the biggest investors and the biggest shareholders, like travis. Lane right. I think most employees have a misconception that they have a say in what happens next. There are a handful of people , maybe eight entities, mostly investors, who have the say and we are just along for the ride. We hope it is a good one. Emily what is happening behind the scenes . Eric getting the documents out. The documents contain Financial Information and risk factors. Probably mentioning the fact that happened. Saying, you are selling your shares, you need to know something about the values of the shares to assess. Softbank is making a calculated decision about the share value. Former employees and other sellers will have to do the same. Emily we also wonder about other skeletons in the closet. Lane, what do you make of the news of the big hack . Its been revealed justices is coming together. Lane i do not believe in a coincidence and this came out two days before thanksgiving in the middle of this deal. It is a little too perfect. I think there was some intention to make investors make a quick deal with softbank. Emily eric, another thing happening, the waymo trial postponed. The judge had harsh words for uber about another coverup. Eric they got this letter from a former employee that basically indicated that uber used encrypted messages and deleted communications to not be found in court later and that is important here because google is trying to turn up the files and there is a question as to whether they would ever find systematicallyas using encrypted and disappearing messaging services. Emily it seems like uber will be giving was cleanup for some time. What are you doing to find out what other skeletons there are in the closet . Lane you are worried about what you do not know and what is coming next and you have to do a review of each division and department to find other issues that exist. Hopefully, most of them are already exposed, but your job is to deal with these as they unfold as a ceo. There are probably other things out there that will come up and they will have to manage it. Emily eric, remind us of the other issues. London, other investigations. Eric right now, joe sullivan the chief Security Officer who part of thisout as hack, he is tied to a lot of questions. His team is being looked at closely. I think tony west, the new general counsel will have to , look into what the Strategic Services group, the uber internal counterintelligence group, who they surveilled, the physical intelligence, and whether there was hacking against competitors. There are a lot of questions in relationship to the waymo case and others. That is a whole set of issues. There are five criminal probes as of october that are open, so the list is nearly impossible. There are a ton of issues that u. S. Attorneys offices are looking at to try to figure out whether anything was criminal and that is an ongoing situation. Emily are there more shoes to drop . What is your bet . Lane on the record, not that i know of. [laughter] lane there probably are. As we get closer to the ipo, it is likely these will be exposed , cleaned up and the company will move on. Emily meantime, winning for a price. We will be waiting on the update from you. Thank you both. From one ridesharing firm to another, ubers top u. S. Competitor, lyft. Valerie jarrett has taken on since leaving the obama administration. Perhaps her most interesting at the moment is her role on the board of directors of lyft. David westin caught up with her and asked why she joined. Over the first few months of the year, i rode lyft and i would talk to the drivers, and they would say, we are treated well, paid well, where flexibility, we set our own hours. I thought that spoke aliens of the company. They made a lot of progress, it took them four years to reach 100 million customers. Thats a big number. In the last three months, that is what we have done. So, they are growing exponentially and went from the beginning of this year, serving 54 of the american people. Now, 95 have access. I think if you look at the track record, the values and leaders of the company, the way they deliver the service, you could not do better. Im very pleased. The brand has been associated with women and women have had a significant role in lyft. Something like over 40 of your drivers are female. Is that right . I dont know if it is that high. I ask women if they feel safe and they say, absolutely. I think the company has gone to Great Lengths to make sure the customers and drivers are safe. Back when i worked in the white house, i visited lyft and i saw the Senior Management and saw diversity and the fact that they had women in key roles. I think that they cut against the grain of the tech reputation that is not as inclusive of women as they should be. They do it because they think they provide Better Service that way. Emily valerie jarrett, the former Senior Adviser to president obama and current for member at lyft. The chairman of the fcc is going on the defensive, defending his plans to repeal net neutrality. He has been the chair since january and took issue with everyone from Web Companies and celebrities who have lambasted his plan to dismantle the internet protections. He took aim at twitter and he said that twitter is part of the problem. The company has a viewpoint and uses their viewpoint to discriminate. Withg up, our conversation meg whitman as she prepares to step down from hte. We talk about the challenges ahead for her successor. Technology is like trimming on twitter. This is bloomberg. Emily the federal Aviation Administration warns of collision risks between drones and airplanes. New Research Shows that the millions of filing civilian drones currently being used can significantly damage airplane engines and windshields on impact. The faa required reported a higher number of incidences have involved drones. It is over 150 jump from a year ago. Meg whitman is preparing to step down from the company. We discussed why she is leaving and why the time is right for her and hpe. I have led a transformation that might be one of the biggest in Global Business history from a single company, enormous company that was facing a lot of to four and Agile Companies with hewlettpackard enterprise. Is wellpositioned for the future and it is time for the next generation of leaders to take hewlettpackard forward. It is about getting the right person in the right job at the right time. I think antonio neri will be fantastic. Emily why do you think that antonio is the right guy for the job . He has been there for decades. I have said from the beginning, the next ceo needed to come from inside and, when you come from the outside, which i did, the length of time it takes to understand the people, products, coulter, market, it takes a long time. Antonio and i crafted the strategy together, he will execute that strategy as a Standalone Company and he is a deep technologist. The next ceo needs to be a deeper technologist than i am. I am a consumer technologist. I had to learn. He is an Enterprise Technology executive. I think he will take the company to a place i never dreamed i could. Emily some critics have argued that hpe needs a landscape shift and appointing an insider is not a veer away. How do you respond to that . Transformatut the ion we have gone as a whole, but also as an enterprise. We have shrunk down to about a 24 billion company and we made six or seven acquisitions in the last months. The largest one opened up a new growth frontier in the intelligent edge. Gartner published a study that says the edge will eat the cloud because so much data is being generated at the edge. So, i think that the company is in very good shape. We are less dependent on the commodity server business than we were six years ago. We have value products and growth products, we are the leader in highperformance compute, we have a new category of infrastructure and we have developed flexible consumption pricing to keep workloads and pay for them as you consume the storage. So, i actually think we are in a good place with coherent strategy to match the needs of the market. Emily how do you turn around Enterprise Spending when more and more companies are outsourcing to Cloud Service providers . That takes a certain part of our market, but there are many workloads on prem, and the recent trend we have seen is the multicloud strategy. There may be multiple public clouds, someone will remain on prem, we have seen some Companies Moving workloads back on prem because it has gotten extensive in the public cloud. We have to enable a hybrid solution and help customers figure out the right mix where the workload should live. That is a capability we are growing. A companyquired called Cloud Technology partners, thats what it does, help figure out where the workload should go. To enable the future and the edge has as much pressure and it is growing like a weed. Emily a tommy was a big acquisition that went out before your time. M athat put a chill on outside the wheelhouse, or do you think hpe will still be created when thinking about doing deals . I think the company had some posttraumatic stress syndrome after the autonomy acquisition. We did not make any acquisitions until aruba and we have to be very thoughtful. We probably took Due Diligence to an extreme. I said, im sorry about this, but you are the first acquisition after autonomy. Aruba has been an incredible acquisition for us and we got our momentum back around m a, we have made six or seven successful acquisition. Aruba has been fantastic and nimble. So, i think we now know what acquisitions work for us and it is Complementary Technology that we can put to our fantastic Distribution System and partners and accelerate the growth of those companies and take out cost in overhead and g a. We have a formula and we have to buy companies right. We cannot overpay. We of not overpaid today, and we are getting a lot of momentum and knowhow and confidence that we know how to do good acquisitions. Emily in what areas do you expect deal hunting . Our strategy is threefold. First, we make hybrid i. T. Simple, we tower the intelligent edge and we have the services to make it happen for customers. Our most recent acquisition was in services, Cloud Technology partners, as i mentioned. Cloud cruiser that allows us to meet her how Much Technology customers are using. We will be looking at Small Services acquisitions and something might come up in the intelligent edge that is germane to our view of that. We have made a few acquisitions in behavioral analytics. And, with hybrid it, there is Software Defined infrastructure space. We took our user interface and put it on the most prevalent d. L. R in the world, the 380. That turns out to be a winner for us, as well. You can count on acquisitions, if we make them, only in those three areas. We will stick to those areas because there is a lot of room civil, hybrid i. T. Simple, powering the intelligent edge and making services that happen for clients. Emily my conversation with meg whitman. Tune in later in the hour for more with meg whitman, including her thoughts on the Trump Administration and her own political aspirations. A headline clocking right now, apple customers have discovered a security flaw in the latest mac version of the operating system, this is heisey eric, high sierra. It allows anyone to log in without a password, even remotely. There is a new story out on the bloomberg terminal. Check it out. This is bloomberg. His is bloomberg. On november 17, the at t ceo met with the top antitrust enforcers to offer a lastditch attempt to avert a lawsuit blocking the time warner deal. According to people familiar with the matter, the proposal modified to address Justice Department concerns. The Justice Department sued the following business day. Stevenson was accompanied at the meeting by a highpowered trial lawyer. The talks with the antitrust division rubdown broke down after less than one hour. We are watching shares of roku pulling back after hitting a record high. They had gained as much as 31 in the last two days, and was compared to netflix. Adobe named roku a sales winner. It drove shares higher. A writer said it was time to pop a bubble. They called the maker of the Television Streaming device a total joke. Meantime, a new york merger, we work is merging with meet up. Wework has 10 million square feet of space across several countries. Meetup hosts thousands of gettogethers every month. A possible movie merger. Regal entertainment is said to be in talks with a u. K. Group. The deal would create a bigger international rival to an industry leader, amc entertainment. Or member, regal tried to find a guyer in 2015 but was unsuccessful. Coming up, one of the largest platforms for trading coin joins us. They are tripled their user base this past year. What is behind this rise . We will discuss. If you like bloomberg news, you can check us out on the radio on siriusxm. This is bloomberg. Is your first word headlines from around the world. As bitcoin tops 10,000, one of the biggest old wall street is warning the cryptocurrency is a massive bubble. There is still a 500 million fund to invest in them. There is a lot of fraud mixed in. There is a lot of froth and fraud in anything this exciting. I think it will become the biggest bubble of our lifetime by a long shot. I want the record to show i did not say that. Mostly because it is so global. North korea says it has successfully tested a new type of icbm that puts the whole of the mainland u. S. In range. State television quoted kim jongun as saying at north is now complete with its nuclear force. Tokyo held emergency meetings while south korea staged drills against the provocation. The pentagon said the missile flew higher than any previous north korean rocket and analysts say that Shows Washington is potentially within range. A missile was launched a little while ago from north korea. I will only tell you that we will take care of it. We have general madison the room with us and we had general mattis in the room with us and we had a long discussion. It is a situation we will handle. Midsession markets and asia, we are seeing a little bit of a mixed picture. Once again, a selloff in these large cuts in china. Were listening to Brian Roberts on Bloomberg Radio earlier, he was saying this is about profit taking, nothing more sinister such as the National Team stepping in, but the selloff is continuing. Hong kong on the lunch break also weaker by 4 10 of 1 . Youre some upside