Theirx joins us to share answer to the new competition. And, the bitcoin rarely continues but for how long . But first, tech shares leading the market higher as more covid Restrictions Mean more staying at home for the foreseeable future. Scientists are making to make advances on the vaccine front but there is still a long winter ahead. Joining us now, Abigail Doolittle taking a look at the Market Movers of the day. Lots of conflicting strands here. How did at up did add up . We had the bearish news yesterday about Public Schools in new york city closing server restrictions on the biggest schools in the u. S. Stocks yesterday sold off. Today . Not so much. They were basically flat on the day. At the end of the day, the nasdaq 100 climbing by three quarters of 1 . We once again have that disconnect between stocks and the reality that would seem to be concerning about the narrative seems to be stocks are looking forward six or nine months on the vaccine starts to get into the system a bit more and hopefully helps reverse this pandemic. Stocks not taking into account the near term bonds. That is a story for another day. What helps the nasdaq 100 today, lots of. Stayathome stocks that is another conflicting piece of this tugofwar. Netflix, amazon, apple and facebook all higher. Those are the names that have a big waiting. Those ares defense, the sectors that lead tech and discretionary. Lets talk a bit more about amazon as you say edging higher. We have this news of cases continuing, hospitalizations surging, more staying at home. How much of this is an overhang from the big pharma news about amazon making an even bigger play in Prescription Drugs . In terms of amazon on the day, i think we are looking forward relative to that. It is widely acknowledged it will be a big disruption to the pharmacy space. Proven. T until that time, it is probably not going to do much for amazon shares. Amazon is stuck in range you can make the case the stock is technically bearish. What we do have a reaction in is the drug stocks. Cvs and walgreens down. Analysts are saying this is a big concern from the for the longterm but in the near term, it is unlikely to be that much of an effect. You can see big declines in the space. ThanksAbigail Doolittle, so much for breaking it down. One of the companies that stands to see some impact is good rx. How big will that impact be . I want to bring in the founder and ceo. There are some predictions this will be incredibly disruptive to your industry. You are one of the incumbents. What is your answer to this . What is interesting as amazon has had mailorder pharmacy for a number of years. The announcement a few days ago was updating the experience to get more people to switch. Mail is really hard. Only about 5 of prescriptions are mailed. The reality is most people go to retail. That is where good rx tends to play. We work with amazon to help them find discounts for pharmacy. Emily does that mean you are not concerned . Good rx has 5 million members. Amazon has 90 million prime members. Are you worried that some of your customers who happen to be prime members might move to the other side . What good rx does is we hope americans find the lowest price further prescriptions and health care anywhere. I applaud amazons efforts to get into miaail. We are in marketplace. What amazon announced as an upgrade to their mayor porter experience. They also offered this discount card that people seem to helping peopleut get discounts at competitive pharmacies. I do not think amazon or walmart would be happy if consumers relieving. Were leaving. We work with amazon. We work with all the major pharmacies to find the lowest price. As a point of reference, the lowest prices with our Subscription Service are lower 90 of the time. Emily how do you think it is going to change things for me has to go to a drugstore to get a prescription filled . It is crazy because you think at this point, everything shows up at our house. Pharmacy is so complicated. It is not as simple as one click. You have to get the prescription. There are all sorts of contractual reasons where your Insurance Company may or may not participate. Amazon is only doing 30 day fills. The contracts and restrictions are so great. Imink they have been old enough to remember drugstore. Com in 2000. Health care does not work like other industries. It can be very confusing and restrictive. We are trying to unravel that. It could be a long time before mail is a significant part of the overall prescription economy. Emily this is all happening as congress is taking a look at amazon over antitrust issues. Do you think there are regulatory issues here that lawmakers should be concerned about given that they are making a lateral move into an industry where there is already concerns about how much power they already have . Not have a lot of Vantage Point into amazon and regulation on that side. What i am focused on his overall Government Health care policy, which continues to fail most americans. Too Many Americans are uninsured. Too Many Americans are underinsured. We work to provide information on pricing so political leaders can flag or out can figure out how to solve this problem. Said the aca was going to Fix Health Care in this country. Americans still need help. That is where we are trying to fill in the gap. We want to give americans any choice they need so they can get Affordable Health care. We are friends with anyone who will help us get there. Emily where do you see the innovation happening in the pharmacy business over the next five years . We are really excited about certain categories. I think telehealth is amazing. It has been around for a long time. Very few people used it. And then the pandemic used it and it basically exploded. For certain categories like mental health, telehealth is here to stay. If i can see a therapist in an interaction like you and i are having, that is pretty good. I think there is room for mailorder. Seeingfinally s options good rx has rolled out brand solutions. We are trying to drive people to solutions and help doctors find solutions. Peopleh cost of drugs are talking about the brand drugs that cost too much. Everyone is reeling he is realizing they have to do something. We expect to see a pot of information a lot of innovation. Emily cofounder and ceo of good rx. Thank you so much for joining us. Vowed to goirbnb bub look on the nasdaq. On anotherng shares trading venue still be a possibility . This is bloomberg. Emily we have some breaking news. The Gaming Company roadblocks has filed for an initial public offering. The company, which is very reportingong tweens, daily active users, 31. 1 million in than nine months ending september 30. Joining the flurry of ipos trying to round out 2020. Airbnb filed to go public on the nasdaq. The Company Might also list shares in 2021 on its upstart trading venue for Companies Committed to environmental, social and corporate government values. Airbnb is weighing a dual listing on a Longterm Stock Exchange founded by eric ries. Thank you for joining us. Hugeusly, this would be for the lts see. I know these conversations are confidential, but what can you tell us about the likelihood of airbnb doing this . I cannot speak to which companies are going to list. Unfortunately, i cannot say anything about that. That said, if this were to happen with airbnb and a company of similar size, what kind of budget amazing force when that have about something youve been working on for a long time and you have been waiting for a company to make this move . I have been working on this for the better part of a decade. We are really excited we were able to begin Trading Operations on september 9. That is the official start time for us to be able to have these conversations with companies. Separate from any particular company, what is important is the issue of corporate governance. In the next generation, there are incredible Corporate Leaders like brian who you mentioned who are committed to a 21st century way of Building Companies that his district from what had that is different from what has come before. You build a business on a bestselling book. I know you build a lot of strong relationships with founders. Ceo. E like the airbnb talk to us about your relationship with these founders and the kind of conversations youre having with them about making a decision like this . It is a bit of a cliche now to think people in Silicon Valley are trying to change the world. As i have gone to know people like brian, i think they are sincerely committed to it. I know he cares a lot about andrsity, sustainability what he calls the multistakeholder way of building a company. Understanding that taking care of human beings in his community leads to success for shareholders. You do not have to take their word for it. Host endowment fund, placing a significant amount of the companys stock into almost a Sovereign Wealth Fund for airbnb nation. This recognition that these platforms, these platforms are so powerful there like nationstates onto themselves. The leaders of the platforms have a tremendous Civic Responsibility to shape the 21st century is going to look like. Emily we just learned that roadblocks, the Gaming Company has filed for an ipo to list on the new york stock exchange. Tell us the selling point of listing on the new york stock exchange. Why should any of these Companies Choose you and what are they giving up if they did not go that traditional route . It is important to remember we are asking companies to dual list so they can still have a primary listing on nasdaq or the n. Y. C. Or the nyse. Low. Isk is actually quite one of the things they much everyone in business agrees on is shortterm thinking has become an epidemic problem. Look outside if you want to see the consequences of that. You talk to managers of public companies, they increasingly are finding themselves living quarter to quarter. Getstments in innovation starved. That is not what this generation of leaders wants. The companies that have this longerterm focus are better equipped to deal with disruption. They better take care of employees and customers who will remember in the new normal who was there for them and who was not. This ability to remain true to their vision, that is the essence of this next generation of leadership. The standards we have embedded are aligned with that in those. Ethos. That many ofe will see how those Companies Make it out of the gate. What is your forecast for 2021 . Do we go back to some kind of normal after this unprecedented time or does this kind of feeling of disruption continued for a while . It is funny to think the 21st already 1 5 over. Anyone who thinks it is going to be smoother or calmer is not paying attention. We are 100 years remove from what our grandparents and greatgrandparents went through. When the pandemic ends, the i to make the activity that is going to be unleashed is going 20s the wrong if everyone members what happened in the 1920s, the 1930s and the 1940s, we are on a similar trajectory. And think entrepreneurs tech leaders have an Important Role to play in forging that new consensus but it is going to require an enlightened thinking about what is the role of corporation . What is the purpose of the corporation in these Turbulent Times . If we can lay out the new social contract of what it means to be a great company, we all have a role to play in the. Us whopress and those of advise companies and the founders themselves in saying that this new ethos has to be about taking care of human beings or we will have a repeat of some of the atrocities we saw last century. Emily it is certainly an ambitious goal that sounds very worthy. Good to have you back here on the show. All right. Coming up, we are going to be talking about crypto. This is bloomberg. Bitcoin is having a moment in the sun after a couple seismic shakes that destroyed billions in value. 18,000. Al coin lost paypal said it would now allow customers to transact cryptocurrencies. Joining us to discuss what lies ad, bitcoin has been on a huge run and we are seeing a new rally on cryptocurrency we have not seen in a few years. What is your take on why this is happening and how long it will last . I think it last for a while. Thank you for having me on. I think what we are seeing have been are some macro factors. None the least of which is, you print billions and trillions of dollars in stimulus, many people take a look at inflation hedges. Gold has historically been the darling in that category. Increasingly, you are seeing bitcoin and Digital Assets viewed as a real inflation hedge. It has driven a lot of the activity we have seen lately. Paypal is allowing you to buy, sell and hold cryptocurrency, but paypal has decided to not include ripples ex rp. What is your response to that . Been a topic of a lot of speculation as to how the u. S. Environment would look at the currency. A lot of foreign regulators across the world have looked at and been decisive about looking at it as a virtual currency. In the u. S. , you have not had that same clarity. Without that clarity, you have Companies Like paypal and others who are supporting bitcoin. Because it has that clarity. I am a bull on bitcoin. I also think we need to acknowledge that when bitcoin is more than 50 of the mining in china, china can control those technologies. We in the u. S. Need to get in sync with other Major Economies across the world as to how we look at an asset like xrp it treated current entry similarly and treat it similarly. Think the chinese commonest party is being very strategic and is very focused on dominating this technology. I worry this will be the next 5g race. We lost that race. We are in danger of repeating that mistake again in the battle for what i think will be the future of our Global Financial infrastructure and payments. Ishink the irony unintentionally as a regulatory body in the united states, we have given an advantage to that has allowed people to like paypal and others with that clarity and certainty, there supporting those assets and they are allowing entrepreneurs to build companies around them and to safely invest. Emily you made headlines last month when you said ripple might move its headquarters out of the u. S. Due to the lack of regulatory clarity. Now that we have joe biden becoming president elect, what are your hopes under hallie Biden Administration under a Biden Administration . I do not see it fundamentally different as to who is that 1600 pennsylvania. I think there are some subtle changes. Ripple is an american company. I am a kid who grew up in kansas. We generate a lead of tax revenue for the government and highpaying jobs. We also need a level playing field. If we cannot compete effectively withse countries these technologies, we have to be able to compete on a level playing field. The one thing i will say that will change in a Biden Administration is another drawback of how bitcoin operates. 1 of Global Energy consumption is consumed by bitcoin mining. In a world where we should be attentive to carbon production and the impact of the dynamics going on in the climate, the Biden Administration will be more attuned to those dynamics. That will bring more attention to the lack of efficiency in bitcoin mining. Emily all right. The ceo of ripple. Always good to have you on the show. Thank you so much for sharing your thoughts with us. We have been getting headlines out of the state of california. California has ordered a 10 p. M. Statesor 94 of the population. This as cases of covid19 continue to surge. Hospitalizations also surging. Something we will continue to follow and try to get more details on the new curfew going into effect in california. Also coming up, vaccines for covid19 are looking promising. Does that mean travel will pick up . We will talk to the ceo of booking. Com next. This is bloomberg. Businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Emily welcome back to bloomberg technology, i am emily chang in san francisco. California will be implementing a 10 00 p. M. Curfew for 94 of the states population. For all counties in the purple tier. That is in my county, alameda county. That does not include the county of san francisco, which is in the red tier. Obviously, a very restrictive move. We are waiting for a press conference from officials at the top of the hour. This after we saw positive news on the vaccine front out of pfizer and moderna. The question remains, when can anybody expect life to go back to some sort of normal . As we head into the winter the cdc is recommending americans not travel during thanksgiving week. Glenn, lots to digest here. What is your take as a guy who is running a travel business and your business has clearly been disrupted over the last eight months. Glenn hi, emily. Thank you for having me. It has been disruptive. Wonderful news out of pfizer and moderna. Hopefully we will have great news out of other Companies Like johnson johnson. The thing i continue to remind our employees, everyone remember, this is not a light switch. We do not just turn on the lights and everything is great. We have a long way to go between these announcements. There has not even