Scaramuccis push to clean house to stop information leaks. 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. This is bloomberg technology. Coming up, the debate over Health Reform is now officially ago after a senate bill that went down to the wire. The latest from washington. Plus, a major rival capitalizes on the crises at uber. Have business is booming at lyft. Fighting words continue to fly between tech billionaires over Artificial Intelligence. Beefs and into the barbs traded by elon musk and Mark Zuckerberg. First and the league. Senate republicans issued a green light to issue debate about health care to the floor of the senate. Theres a lot of uncertainty about what plan senators will be asked to vote on. 5051, withte was Vice President pence serving as a tiebreaker. Senator john mccain, who helped the development was diagnosed with an aggressive brain tumor days ago. Take a listen to his opinion on the repeal efforts. Senator mccain i will not vote for this bill as it is today. It is a shell of a bill right now. We all know that. I have changes that will have to be included to earn my support for final passage of any bill. Emily Senate President trump praised senate republicans, calling it a step to repeal obamacare. Joining us with the latest is our washington reporter. Whats the reaction . Reporter the white house is trying to make this a victory. It is one step toward a victory for them in getting a repeal and replacement of obamacare, but of course, there is a daily long road ahead is really long road ahead. At this point, there is no road that exists mikecould get the 50 plus pence tiebreaker vote needed to pass. That does not exist now. They have been working on it for weeks. Now, they are in this sort of lightning round of trying to get it done. You just heard a clip from mccain saying he will not vote for any bill that exists right now. He has changes he wants. We will see what those changes are when he introduces an amendment. Now, the needle they are trying to thread is so fine that anything mccain wants introduce could also lose people on the other side. Although it looks like a victory now, if they are not able to get anything past, then any vote or amendment they pass, it will probably look even worse than if they never started down this path. Emily there have been so many twists and turns. Do you think today will be seen as a turning point or not . Reporter despite all the pessimism and seemingly impossible need to be able to itis bill through seemed impossible in the house at one point they, had to pull from the floor, the members went back, there was also the angst about the republican party, but the house pulled it together and got something through. Part of that is because they had the senate at the check, saying whatever we pass, the senate will change. Now we have the senate. For although no votes, people who did not want to proceed to debate, they were able to squeak it through to get it open to debates and amendment. Once again, reviving something everyone thought was dead. Do not count the bill out. Do not count Mitch Mcconnell out. Its not over until its over. They keep proving that things we think are dead, they can resuscitate for one more step of the process and drag members along with it despite all the criticism, that comes with it. Emily President Trump also continued his public berating of attorney general Jeff Sessions. Bloomberg news within the White House Press room today and asked the president. Take a listen to what he has to say. I dont think i am doing that, but i am disappointed in the attorney general. He should not have recused himself almost immediately after he took office. If he was going to recuse himself, he should have told me prior to taking office, and i would have quite simply take someone else picked someone else. I think its a bad thing not for the president , but for the presidency. Emily what is the very latest in terms of the trump administrations plans for attorney general sessions or whether sessions himself might resign . Reporter based on all the twitter attacks on sessions over the past 24 hours, it really seems like trump wanted him out of the job. Its been going on for a week that he has been frustrated with sessions since he said he would recuse himself from any matters having to do with the russia investigation, but trump, obviously that feeling has been festering. He has really ramped up attacks. It looked like he was going to either fire him or forced him to resign. If sessions was going to resign, he would have done it already. Sessions appears to be staying in place, and trump appears he does not want to go far enough to fire him. Part of the rally around sessions moved by the conservatives on the hill and even on talk radio this morning coming to his defense could be part of sending a signal that it would be going too far. Right now, you have an attorney general who does not appear to have the confidence or support of the president , but the president is unwilling to do anything about it. Emily in the meantime, a new report in the wall street journal, quoting an interview with president , saying the apple ceo tim cook has promised him three new manufacturing plants in the u. S. What is your take on this . Reporter we have heard a number of these jobs announcements. Trump said there has been something promised that would be done. Some of them come through, some of them dont, some of them arent necessarily what they seem to be on the surface. It doesnt look like apple has commented on this at all yet, so i will look what for what they have to say. But this is good turf to get back to for the president. This is where he is strongest. Jobs, the economy, manufacturing. Thats the message they want to hear. He will kind of get back on the message for a day or a few hours. He is in ohio later tonight. They always get derailed on to something else, onto russia, onto attacking the media, onto attacking the attorney general, and they lose focus on jobs and the economy, which is one of the areas that got him elected. If he can stand this message, its good for him , but he will probably be attacking Jeff Sessions in ohio more than talking about manufacturing. Thats a concern among people who support him. Emily apple hasnt commented in this fit story to the wall street journal. Our ownbring you comments from apple if we get that. Shannon pettypiece, thank you. The Company Reported secondquarter earnings that beat analyst estimates. It posted a surprise Wireless Subscriber again, rebounding from a loss earlier this year. It showed it could fend for itself in a cutthroat price for. Also in the report, at t expects a time warner deal closing by the end of the year. Coming up, Venture Capital funds keep getting bigger. We chat with the general partner at Canaan Partners at their recordsetting latest fund. Bloomberg technology, is Live Streaming on twitter. Check us out 5 p. M. In new york, 2 p. M. In san francisco. Check it out. This is bloomberg. Emily online tv growth is into quick enough to make up for cord cutting. About 6 million subscribers have shut down cable or Satellite Service since 2010. Research shows that within the next decade, 31 million homes will cancel or cut back traditional tv services, while just 17 million will go to live options. According to people familiar with the matter, sling leads the market with 1. 7 million users. In funding news, Canaan Partners closed its latest find at 800 million. It is the firms 11th fund and the largest in its third year history. Venture funding has been ballooning this year to highs not seen since the dotcom bubble. The surplus of cash helped. Here with us is maha ibrahim, general partner at Canaan Partners. 800 million, enthusiasm is highh. You actually topped the fund. Thats right. We were well oversubscribed and fortunate. Emily is there enough places to put all the money being raised . Our firm is a different diversified fund. 40 as health care and 60 is tech. On the health care side weve had an incredible run, largely due to the fact that we have been disciplined. The same goes for tech. Emily you have been at canaan for more than a decade. Your memory goes back. What do you think of these com era . Ives to the dot there are so Many Companies still amassing an incredible amount of revenue traction. I dont see that ending. I dont see a clip like we saw period. 000 to 2001 theres a ton of momentum and money flowing into the system. Emily on the one hand, companies are staying private longer. On the other hand, you had thirtysomething exits in the last three years three times the average. How is that, possible . In addition to that, what we have seen is some companies have been exiting a lot faster than normally. Time average time to exit is about less than four years. This is in both tech and health care. We think its because theres a franchise approach. There are areas we go very deep them in terms of networking and thesis. Emily if you get the sense that a company would take 10 years to go public or exit, would you stay away from them . Know, we believe we are Building Companies for the longterm, but because we are taking a piece disturbing approach thesis driven thinking aboute what companies want. There are some that take 15 years, and that is fine. Emily what areas are hot where you think there are big opportunities . Where are you going to put the money to work . Financial technology investments. We spent a lot of time in real estate and insurance. A lot of time in cloud. You will see us do a few gaming deals and ecommerce. On the health care side, immuno oncology, but we are very disciplined in our approach as opposed to taking an index fund. Emily canaan is celebrating 30 years. As a vc, you have three general partners that are female, which is much more compared to usual Venture Capitalists of firms. Im curious about how that changes the culture inside the firm and the investments you make. I am incredibly fortunate to be empty table with eight general partners and three of them being women. The conversations we feel are a lot more inclusive. As a fund, we feel like we are reflective with of what the true entrepreneurial pool looks like. If a woman or immigrant comes in the door, they are surrounded by people who have had similar experiences, and are much more comfortable. Emily i know you have been following the Sexual Harassment stories. Have resigned or lost jobs. Are you surprised i this . By this . Unfortunately, im not surprised. Im surprised at the horrific nature of it, but im not surprised its happening. If there is a positive spin on this, it is this. Sexual harassment has happened. Im sure there are more cards to fall, unfortunately. But it has woken people up to the need for diversity inclusion. Both at the venture and senior investing table, but also from the entrepreneurial prospective. We need to be bringing up women entrepreneurs, people of diverse backgrounds, into investing worlds so that all entrepreneurs feel welcome. Emily when you say more cards to fall, i know everyone is calling. What closer you getting . Im getting a lot of calls. Im spending about one hour or two today talking with entrepreneurs. The nbci is taking a serious look at whats going on, and thinking about how to approach this in a holistic way. Im talking with limited partners. It is certainly top of mind. Emily talking about what . The fact that it is happening, talking about what we can do, can we put notions into term sheets . Can we have a more diverse pool of investing professionals around the table . Like are many things hotlines. There are many notions being talked about. I hope we can come together and make it a more diverse and inclusive environment for venture and spelling into the entrepreneurial pool. Emily i know women come to you and you have been an advocate. Have you found yourself in a position where you are a coinvestor, where there is bad behavior alleged against that person, before or after the fact . I have been very fortunate for that not to be the fact, but i see female entrepreneurs on a daily basis, and each one of them has told me a bad story. This has been happening for 17 years of my career by no means is this a new thing. , but we have to put effort into making it stop. Emily what are the efforts . Shouldnt everyone just be decent . [laughter] weis an incredibly low bar, shouldnt need to sign something. I firmly believe that a huge part of this bad behavior stops when you have females and minorities at the investing table, and senior investing roles. Stuff like that would not have been. Their behavior would be checked. From a social psychology standpoint, im going to want to invest in people that look like me. And my firm, we have three investing professionals at the gp role that are female. We fund areompanies funded by women. Its not a coincidence. Emily the average is more like 6 . Exactly. We have reached a tipping point. Emily maha ibrahim, always good to have you here from Canaan Partners. Thank you for stopping by. Coming up, a game of catchup in the right healing world. This time, ride hailing world. This time, lyft is in the drivers seat. Well check it out, coming up. This is bloomberg. Emily tech billionaires bill gates and jeff bezos are backing a local Trucking Logistics startup that can be used directly with googler uber. On tuesday, convoy said it raised a new round of funding from bill gates and other backers. The latest financing total 62 million. Existing investors include marc benioff and barry diller. It is a good time to be lyft. The ride hailing business has been booming while their biggest uber, faces exits in a string of selfinflicted scandals. Booking crew about 25 to more than 1 billion in the Second Quarter. The growth rate is also factored in with bloomberg, which tells investors it expects growth only in the mid teens. Joining us is eric newcomer, who covers both company companies. We have been looking for the hard data about how lyft fares in this time of uber scandals. Reporter yes, it seems like its doing pretty well. 25 growth quarter over quarter seems great. We dont know what the bottom line looks like. Ridesharing businesses love to spend money on subsidies for growth. Uber has been narrowing. Lyft was about they had losses in q1. This is included with everything the driver makes, everything uber takes in. , theylist four lyft take about 20 . Talk to us about how much this has changed. Where was lyft a year ago . Reporter two years ago, uber was on the march to be do only player. For a wild, uber wanted to be this single ridesharing player in the u. S. That doesnt look to be the case. Lyft is growing its market share. It is hard to get perfect visibility into that, but uber has not been able to block lyft from establishing itself. Emily what can you tell us about how much bigger goobers business is in absolute terms . Reporter uber has not shared q2, but we think bookings will be around a. 2 5 billion. Thats more than bookingmes on a gross business dan lyft. Global business. It still owns major stakes. Upside even when its not getting major revenue itself. Uber is at least eight times as big, but lyft is growing. Emily how is lyft capitalizing on the uncertainty at uber . Reporter they have been playing it pretty smart. They are not trying to take too much credit. There was delete uber, and travis was on the advisory board, lyft donated 1 million to the aclu. But for the most part, they are keeping a lowkey. Everyone is all smiles over there. They know its going well, but they are not trying to do any public gloating. Emily i have to ask any, where are we on the ceo search . Reporter [laughter] im going on vacation for two weeks and not just. In august. I dont know. It doesnt seem like they have landed on a candidate. There is a huge vacuum over there. Every major leadership position empty. The search continues. No real update from us or anyone else recently. Emily i dont know what im going to do without you for two weeks. [laughter] thank you for joining us. We will try not to bother you on your vacation. Eric newcomer, bloomberg technology. Coming up, Financial FirmsLike Deutsche Bank are pulling out of the u. K. Because of brexit concerns, while some tech giants are expending. Details from london, next. If you like bloomberg news, lancet listen on sirius xm. This is bloomberg. Alisa im Alisa Parenti in washington, and you are watching bloomberg technology. Lets start with a check of your first word news. President trump intensified the pressure on Jeff Sessions today, saying he wants the attorney general to be tougher on leaks. Trump also said hes very disappointed in sessions. He added he would not have picked him if he knew you had recused himself. The u. S. And china are making progress on a new u. N. Resolution that would impose additional sanctions against north korea. That is according to nikki haley, who says it is in retaliation to the icbm launch on july 4. The house has passed a measure that would prevent a measure that would prevent the president from acting unilaterally to remove certain sanctions on russia, as well as add sanctions against iran and north korea. The measure also would bar u. S. Companies from investing in Energy Projects in which Russian Companies have at least a 33 stake. The saudi led era alliance archiving qatar says boycotting qatar says efforts by the gulf nation to Counter Terrorism are not enough. The block says the boycott stands until demands are met in full, and added nine organizations to a list of terror groups it claims qatar supports. Research on 202 former Football Players found evidence of rain disease in almost all of them. The report, published in the journey journal of american medical association, is the largest update on c