Could new sales stats boost Investor Confidence . Bitcoin surges, investor interest is growing stronger. Are we in a cryptocurrencies bubble . When will it pop . First to our lead. It is a redefining moment for the samsung note line as the company unveiled the samsung note eight. Isis their largest phone howevg confident in their new phone. We have that story. Manhattan dtown i am in midtown manhattan for the unveiling of the samsung note eight. It is the latest version since the galaxy note seven was recalled after reports of catching on fire and exploding. Lets take a look at it. the note eight has an improved camera with two lenses on the back of the device. It also supports faster networking for browsing the web and content. Samsung killed off the smartphone after customers reported issues with earlier modelsphones catching fire. The whole fiasco cost the company an estimated 6 billion. We will not know if they have gottththere lopeople have tested it. That is not the only issue the company has faced. The former head of samsung was of the company. Tim cook is different in that he represents the company, and so i feel verya. Apple pla to unveil r highly anticipated phone eight in a matter of weeks. In the Global Smartphone shipments with 23 of the market after losing ground in the note seven scanl. Can samsung hold on to it spot in the increasingly crowded Smartphone Market . Only time can tell. Still, by keeping the same note branding, samsung is making it eight has noe note prlems of the past. Emily in the meantime, the latest edition of the smartphone that started it all, the 10th Anniversary Edition of the apple iphone is still shrouded in secrecy. Expectations for the new flagship product. We havent some details. We have three we have some of the details. , we have three differen their and it will be easier to hold, not as heavy. The 3d sensor and the fingerprint sensor of going to be the crown jewels of the phone. The face scanner will allow the phone to unlock and even do it in the dark. Being on a swat teamso, imagine with your helmet that can see in the dark, and it is thing it is Something Like that. Phone will be able to read your face based off little light in the dark. I did sit down with tim cook back in june, and he had this to say about being first to market. Being us, it is not about first, it is about being the best. It is about giving the user inexperience that the lights every time. Inpatientsot let the the impatience result to us e is really behind. So, the os screen which is something that has been appearing in samsung phones for vertical integration, motorola the essential phones we have had on the show alhave them. The app store, it is something they created. We saw the android, Google Play Store come out after that. To profitsn it comes speed, apple has them first. Before a couple months that, i think i said the phone chip, but the big they did come out with the 64 bit chip. They are still use ahead when it comes to processors. The more onbout screen real estate. What does that mean. To make the phone smaller, they had to chop off things come of so they are getting rid of the home button which will now be part of the screen. Essentially, there will be a home button area. There will be some new sweating gestures to navigate between apps, and it will be to the point that you do not really need the click buttons around it. Volume buttons will go away in the future, too. How does it stack up to the competition . Note seven was one of the highest reviewed phones when it came out. It was one of the most highly anticipated and successful phones when it comes to the product reviews, but then it came down to the exploding batteries and everything. So, i think the note eight will be a serious challenger in peoples eyes. So, the new iphone has been dog know . There are going to be three models. Initially, the mix will be much higher for the new updates. Out a little less. Bloombergs mark gurman. In india, there is a new chairman. Rman the Founders Group has clashed with the board in recent months which led to the previous ceos departure in the last week. Coming up, mutual funds are looking closer at uber. Plus, mark flips on bitcoin. The outspoken skeptic is now a believer. Our Digital Currencies now becoming a mainstream investment . We will discuss. This is bloomberg. Emily since going public in june, blue apron has lurched from one challenge to another. They have lost theirs Human Resources chief, and they have gone through a hiring freeze. The shakeup comes just as the company ramps up a new center which will handle half of its production volume. Vanguard group and others have ubered their valuationsf by as much as 15 . They have faced a persistent drumbeat of bad news including court battles. This comes after an ongoing ceo search. Thatis trying to signal they are a transformational once in a generation company. Seem less viable than it is may scare off future investors. We are here to talk about their latest develop ands. The mutual funds their latest developments. The mutual funds marking down uber by several percentage points, it is a useful violations of the secondary shares are going to be bought. People doing the selling, having these professional assessments, the Company Valuation could give them a guidance. You talked about new investor interest. Is that happening with this new valuation . Is it significant that they are flat and not increing . There is certainly in interest from insiders to see theon given the circumstances of flat given the circumstances, a flat valuation is about the best they can expect. In terms of what they are actually paying netted out, it is going to be a lower value. Emily who is selling these shares . Investors, ployees, former employees . That is the big question. Is benchmark doing the selling . Is travis doing the selling . The range of the secondary sale was as much as 2 billion to 10 million. 10 billion. You can get a sense of what the appetite for the sellers is going to be. Emily in the meantime, uber is showing for the successful revenue numbers and growth numbers. Falling. Ses are what you make of the numbers . They are good. It is a stalled out perspective. Uber is losing short amounts of money. If you analyze the amount of losses they have had this quarter, you get to about 2 billion which you can compare to amazon when they had their worst loss which was about 300 million. So, the scale of their losses which have fallen are still humongous for any company. Emily for most of that quarter, even if thead a ceo investigation was still ongoing. Labor dayearch is fast approaching, and they said they would have someone in place by then or have at least voted on it. There is only one name out there. Yes, and he remains the frontrunner. There is the possibility that meg whitman is back in the mix, helde had hold we have our tongue on the fact that there are some who are also denying it. So it is unclear. It seems like there is a main candidate, but there are also some others who are reportedly still in the mix. Emily is labor day still a realistic deadline . I think everyone would like to see the deadline being met, but it would require groups of investors eating along getting along. But they are tired, so we will have to see if they can get along. Emily coming up, after the events of charlotte so, virginia, various Tech Companies have taken a stand against new not to groups. Neo nazi groups. Emily the former ceo of uber has been namedresident of h r block. He previously served as chief marketing officer at target. The move is part of a greater move by the company. They are continuing to compete with Online Services like turbotax. Since President Trump took office, tech leaders in the white houseversateech and hate groups after the events of charlottes foe, virginia. Charlottesville, virginia. Could have implicated and communication practices which could have farreaching implications. Thesementioned some of cultural issues such as the banning of trans members of the military. These are places where the administration and companies have clashed in a very public way. Those kinds of clashes have consequences especially in this administration where loyalty is a big deal. There is not a love a lot of love lost between those companies and the white house especially considering the events in charlottesville more recently. It is important to realize there is a policy dimension to issues like privacy. Issues like neutrality are on the table, and more and more washington is looking to take them on. We do not necessarily know what they are going to go. It may seem like tech is kind of losing in them. So, there are a lot of ways in which these companies are being surrounded right now. Obviously, the Trump Administration has not had the be of luck pushing through their policy initiatives. Tax,are nsidering energy, Immigration Reform which are all important to silicon valley. White house is clearly not on the side of silicon valley. How much of a concern i number of things whh are important such as net nengs h are important such as net neutrality, skilled immigration. Issues, have the gender but more broadly we have issues which are important to Tech Companies. One of them is consumers. These are companies with hundreds in millions of users, and they are very afraid of some sort of consumer activism. So, they want to focus on their values. They are willing to bend their values when it comes to things which are important to their companies. Two examples are upgrading the governments infrastructure with the contract breach of these pcompanies contract reach of these companies. The other is tax reform and foreign earnings. There was the tweet about amazon doing great damage to companies throughout the u. S. And many jobs being lost. Are we getting to a point where Tech Companiesclass i do not nk we are at that point yet. I think we are at a point where some people in washington come up both liberals and conservatives i do not necessarily think we are at that point yet. I think we are at the point where some people in washington, both lirals and conservatives, are starting to look at it. There is a lot of market share here. There are a lot of Companies Like amazon gobbling up smaller ones. Democrats are saying this as well, we need to take a look at what is going on here. I think it is important to realize as well that some of these companies are on the chopping block when it comes to these issues. Emily how have Tech Companies change their techniques when it comes to lobbying . What is happening right now . T is what it comes down to. There was some talk that these companies did not have any republican representation, and they needed to bring in conservatives. I think that was a little overstated. In d. C. , Big Companies are always in play for democrats and republicans. Still, google did have a record Spending Amount when it came to lobbying spending. Are really spending athey lot of money, because they know that a lot of things are coming their way. Either coming or going. They want to be a part of it. Emily we are looking at potentially three years, three and a half years in the Trump Administration still. What are you going to be watching . Any potential efforts that are about hampering Tech Companies, because we cannot stop the march of technology. Facebook,ple, google, these are companies which do not just impact the United States, but they have an impact globally. We have to be aware ofies which can be threatening to people in the administration but also other businesses. Emily since the events of charlottesville, virginia, a surprising topic has come to the forefront of silicon valley. How far should Tech Companies go to salads he groups such as asnazis . Ence he groups such we of donald trump. That is partially because, even before the election,here was all this controversy around Companies Like facebook or google about if they were media or technology companies. If you are a technology company, you do not have to take responsibility for the content on your platform. If you are a media company, you. Most of these Companies Want to be a technology company,ecause you do not have to spe as much on content moderation. However, a week ago, suddenly theomthese companies realized te need to take some responsibility. That came to the forefront when google and go daddy and a bunch of other companies took down the daily stormer which is a nazi publication had been on the internet until then. Was theight, cloudflare last company to cut off the daily stormer. This was a company that had taken a more free speech approach to things should we did have the ceo on to things. We did have the ceo on the show and he said he was still uncomfortable about taking down the site. Pers, no company should have the power to take down sites. Heres what he had to say. We go to law enforcement, regulators, and we show them the content and ask them what they want us to do. Nt a ask them what they want us to do. That feels like the process of due process. These are the people enshrined with the responsibility of knowing what to do rather tha someone like myself or Mark Zuckerberg or jeff bezos. Emily the idea i do not knows thought through this one. If you are regulated like a utility, the net puts way more of a burden on you to moderate the content on every website. However, there is also price control and a whole bunch of other things where if you really dobitcoin is bigger than ever as ey soar 4000. We get investment perspective on the future of Digital Currencies. All episodes of liver technology are streaming on twitter. This is bloomberg. emily welcome back to the best of bloomberg technology. Im emily chang. Outspoken billionaire mark cuban thinks there is opportunity and cryptocurrencies after all. He tweeted in june that bitcoin was in a bubble and is now investing in a fu called one confirmation. Given tells bloomberg in any mail, i have always looked at this as a Foundation Platform from which great application can be built. Hopefully we can find a few. Caroline hyde sat down with the head of level 39 to get an investor perspective on crypto currency. Enormoust chain has potential in much of the interest is in finding expression in the valuation of bitcoin. We are seeing a galloping ahead of interest in the technology manifesting in the price of bitcoin. Not only in the price of bitcoin but it is also tempting companies to come out and raise companies in a novel way of icos, initial coin offerings. Within minutes you are able to go to the crowd and raise millions. Is this something we are seeing in europe as well as the United States . There is huge engagement with icos, token sales, the fcc in the United States is clarified recently, the authority and the u. K. Has taken a keen interest. That it encourages innovation while protecting markets and consumers. Is real potential of icos very exciting but it comes with a health risk. It is an extreme sport. Do you think we will see u. K. Regulations come in and say theseill be asset securities that we want to be regulated, be registered, in the same way . They have been consulting on this over the last few months. They have not declared a clear position forward just yet. They are prioritizing protection of the marketing consumer while seeking to encourage innovation. That is one of their key , thegths, the superhero u. K. Is keeto make sure it supports innovation and maintains its position as a great place to innovate. You are a hub f startups but you are in the middle of Morgan Stanley or jpmorgan, where they are based in london, how much are you seeing the Banking Sector respond to the reat question. Actual application of these technologies into the grave Financial Institutions of the world is a long and complex process. You have to look carefully, listen, and look what people are building. That is what we seek to support at level 39. It is not genetic. It involves drilling into the it is not dramatic it involves drilling into the details. How can it change the way they operate . Ifetworks, many compare thiso the early stages of the internet there is a comparison that is useful. Much of the interest in bitcoin and other cryptocurrencies right now looks like the hype that surrounded the internet in the late 1990s. In the same way the fundamental transformation not transformation potential is hard to see in full now as it was in 1995. That was an interesting point that mark cuban made. From the ashes of some of these bubbles like bitcoin, you will see the icos, the Digital Currency versions of amazon, google, facebook, come to be the game changers. Where will they be based . San francisco, london, switzerland . Switzerland is trying to claim president encrypt a. We can look further afield as well, and chin russia, japan. Great invation and cryptocurrencies. We should be ready to be not surprised where the Real Progress arrives. Is also important to look beyond cryptocurrencies and consider for example the implications of smart contracts. There are very exciting developments which are also builds from the same essential foundations. There been questions as to whether one Digital Currency will win out over all. Do you believe one will or can we have many . I think we will probably have many. If you look at the governance debates and the technology debates that have been sping the recent developments of bitcoin i dont think any major currency is immune. Governance is a challenge. Scaling is a challenge. It is systemically useful to have real diversity of currency. Just as it is useful to have diversity in almost every other. What is interesting is government interaction between you