conservatives are blocking in defensive jeff bezos. how interesting, how convenient. >> greg: because we can change our minds. but jeff -- jeff bezos is a patriot. >> juan: saying that we have a moral issue in terms of facial recognition stuff being used against people. it's not only overseas but in terms of police department at home, what goes on in terms of american rights. i agree that they have a right to speak out and speak to the leadership of the company. i also agree that jeff bezos, when he says the senior leadership sometimes has to make a decision that's not popular, what's the right decision. i think he made the right decision but that's not to say that everybody who has a moral issue is somehow a wimp or unpatriotic. >> greg: i disagree. they are unpatriotic and they are wimps. >> dana: case closed. >> greg: they are bending to a few loud voices because they don't want the p.r. nightmare. >> dana: silicon valley is in a political and ethical minefields. victory in war is increasingly dependent on not just what happens in t

emily: who do you put your money on, elon musk or jeff bezos? >> the motto of blue origin is one step at a time ferociously. i think that deliberate method might be the winner. emily: stephen leavy, thank you so much. great to have you here. great piece in "wired" magazine. that does it for this special edition of "bloomberg technology" from the "wired 25" summit in san francisco. tomorrow, catch full coverage of tech earnings. we will cover netflix and ibm after the bell. i'm emily chang. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. manus: our top stories this morning. president trump floats the idea of road -- rogue

the reverberations of jeff bezos's comments continue to make waves. he says amazon will continue to support the department of defense and big techs must, or the country will be in trouble. this after google pulled out of the running for a massive pentagon contract. companies are in a position where they are being forced to choose. t.j. rodgers is the original silicon valley bad boy. he chose security over the chinese. it may have cost him his top job at his company, but the outspoken co-founder of cypress semiconductor weighs in next. we are coming right back. this is stonington, maine, a town where almost half the population is self-employed. lobster fisherman is the lifeblood of this town. by 2030, half of america may take after stonington, self-employed and without employer benefits. we haven't had any sort of benefit plans and we're trying to figure that out now. if i had had a little advice back then, i'd be in a different boat today, for sure. plan your financial life with prudential. bring your challenges. liz: commerce or country? that is the

jeff bezos is pushing back on that. he says i think the united states is worth defending and it's a patriotic decision to take. liz: here is nikki haley blasting china over what you just mentioned, internment of religious and ethnic minorities. >> prisoners are tortured. they are forced to renounce their religion and pledge allegiance to the communist party. it's the largest internment of civilians in the world today. it may be the largest since world war ii. >> it's an important point. i think people have missed because of the rumors about haley's departure, she has been tough on countries with violation of human rights. google said only 1% of their search engine would be kren sword. well that 1% is preventing the information about the internment cams and other abused by the government from getting to the people. liz: the mid-terms fast approaching. it turns out democrats are fighting. not just republicans. they are fighting amongst themselves. you won't believe this story. coming up. do you offer $4.95 online equity t

emily: jeff bezos was on stage and in the cover story. this -- for this celebration, it is blue origin and space. and it is interesting to hear him talk about space as the most important thing, he believes, he is working on. and something he is passionate about, but he is also working on all these other things. so how do you see this space race evolving? with the tech billionaires at the home. -- the helm. nicholas: some of the most influence of people in the world, they are all fixated on this similar idea, but to me it is -- it is all positive. there is no harm that comes out of the effort. so lord knows, we might need this enough along and there is nd incredible of our indy -- r coming along. emily: so it looks like we are coming out of a period of adulation and into a period of tech hating, to put it frankly, and companies like facebook and google are having a reckoning. do you believe this will be a prolonged amount of time? nicholas: it is one of the most interest in questions, because our history is so much about optimism and belie

i do not think jeff bezos has anything to be worried about. we saw some products grow 22% year-over-year and especially in some of the non-commodity products. amazon basics is there but he that sells cell phone chargers and batteries. we saw 60% year-over-year growth in non-commodity products. we also saw a huge growth in advertising revenue. up to 10% of all of the products searches on amazon come from a sponsored search of 3% in january of 2017. there is huge room for growth. emily: let's talk about that. alphabet and facebook have dominated the digital ad markets. amazon is a distant third but could catch up. you will hear what ruth had to say about this in the next segment, but can amazon really get there? jitendra: retail is a big segment for google. it is the biggest from an appetizing perspective. -- it is the biggest from an advertising perspective. now, we see larger brands warming up to amazon lot more given the prime members. the sales shift, the ad dollars shipped with it. amazon is targeting two buckets. one is the search bucket t

jeff bezos lost $9 billion in one day. bill gates down to billion dollars. before we feel too worried about them, just basis is up $46 billion year to date. you cannot say that to anybody, can you? >> i wish i had $9 billion to lose. a function on the bloomberg, you can see where jeff basis stands right now, $145 billion. another person who took a big hit was warren buffett standing at $8.8 billion. all in all, american billionaires were the hardest hit at $55 billion. sure if i can be sad about that. >> it is hard to muster of sympathy, it is true. >> if you missed out on any charts or if you want to check out risk go, go ahead. another function you should check out for all of the transmission we showed you throughout programming, this is bloomberg. ♪ ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "ac

joining us, gillian melchoir, jeff bezos was in the eye of the storm. senator sanders put out the bezos text. but he put out a communication today that he applauds what bezos has done. it don't do well for the retail stocks. >> it's a preemptive move on bezos' part. this is an attempt to thwart it off. i think having record-breaking profits is not a bad thing when companies do it voluntary. but they are also committing to lobbying for $15 an hour minimum wage and when you start coercing smaller come betters that's problem. charles: the retail index got hammers. carol, i know you don't like this sort of thing. gillian brought up the point about the profits. corporate america put $2 trillion in their pockets the second quarter of the year. do you worry as the market goes up, one individual is worth $160 billion. that these companies are buying back $100 million of their own stock every day, that the general public is going to say something is not right? >> it makes good business sense to invest in your employees. but there are market forces in play. there

dagen: good for jeff bezos. maria: i think you have to also look at this, you can't look at it in a vacuum, you have to look at what else google is doing to go with the search engine to china. lauren: and not show up in front of congress. maria: and not work with the department of defense is horrible. >> there's communist dictatorship in china and they're accepting censorship when they do a search contract. maria: will google ever be as successful as it is in any other country other than america? give plea a break. lauren, thanks. we'll be right back. that last place was pretty nice. i don't like this whole thing. i think we can do better. change is hard. try to keep an open mind. come on, dad. this is for me, son? principal. we can help you plan for that. maria: welcome back. good thursday morning. thanks for joining us happy thursday i am maria bartiromo. it is thursday october 8 top stories 8:00 a.m. on the east coast, investors on edge this morning futures indicating another sell-off start of trading at lows

perspective, amazon's founder and ceo jeff bezos scored a point. >> mr. jeff bezos today, what he has done, it is only enormouslys hundreds of thousands of employees, it could well be -- and i think it will be -- a shot heard around the world. >> as of november 1st, more than 350,000 amazon employees will be paid double the federal minimum wage of $7.25 an hour. jeff bezos says he listened to his critics and decided to leave. here is his quote. "we're excited about this change, encourage our competitors, and other large employers to join us." with the national unemployment so low, the retail industry was already making moves to be more competitive. walmart raised its starting hourly pay to $11, targeted the same to $12. one analyst told me amazon's move was a headache for any company smaller than amazon. with a market cap of $1 trillion, amazon can't afford to pay its people more. this time of year, extra turkey as well, retailers make at least one-third of annual sales between halloween and new year's. no matter how strong holiday sales are, profits will

jeff bezos makes that amount every nine seconds mr bezos was named by forbes magazine as the world's richest man in twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bizos own personally. indian authorities have moved to legally declare a major national infrastructure builder and solvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company lost the company last tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow wonder also known as i l n f s the action was taken under authority created by india's insolvency and banking code which only became law in two thousand and sixteen iowa fast has been a large and prominent participant in the is building boom. notably built in the is longest tunnel that shahani national tunnel which opened in two thousand and seventeen but.

we look at what is behind jeff bezos' move to bump the minimum wage.

jeff bezos has nothing to be worried about. we saw some products grow 22% year-over-year and especially in some of the non-commodity products, amazon basics is there but he myth that sells cell phone chargers and batteries. we saw 60% year-over-year growth in non-commodity products. we also saw a huge growth in advertising revenue. up to 10% of all of the products search on amazon come from a sponsored search of 3% in january of 2017. emily: let's talk about that. alphabet and facebook have dominated the ad markets. amazon is a distant third but could catch up. had tol hear what ruth say about this in the next segment, but can amazon really get there? jitendra: retail is a big segment for google. now, we see larger brands warming up to amazon lot more given the prime members. the sales shift, the ad dollars shipped with it. amazon is targeting two buckets. benefit from the shift that is happening from bigger brands. you are advertising the product and you know exactly how much the sales are worth. the targeting becomes better.

bezos into making this change. >> okay -- >> jeff bezos thanked bernie sanders on twitter. >> i'm a little puzzled because bernie sanders is a senator from vermont. is bernie sanders just shorthand for a progressive movement that has led certain states, certain cities, to increase their minimum wages because the market demands it? >> i think that's right. bernie sanders, along with lots of other democrats. also behind this push. but these democrats have been long trying to amplify the message i just was talking about. the idea that, left to its own devices, the market will simply not return wages to low and middle wage workers commensurate with their productivity, with their contribution to the economy. >> except bezos had pressure. but he wasn't forced. ali and i, we have sat here and i've cyriticized the tax cut, saying unless you are putting some sort of lever to force companies to increase wages, they won't do it. i was wrong. jeff bezos did it right here. >> you also made a point earlier i think is worth underscoring, that is actually good for amazon, okay. amazon workers, just

bezos and ilan mosque and richard branson are spending up pile to send billionaires for a joyride in space is nasa cool with this or is that minorities well you know one of my favorite things that i've done in the last year is i've been to several space x. launches and landings and they are amazing to see and when you see a rocket take off and then seven minutes later you go dumps off a satellite in space comes back and lands the first stage wow it's your eyes don't believe what's happening the thing to remember is that space x. for example is one of our major partners that they actually launch our resupply missions to the space station and nasa pays for those rockets and we're actually a partner with them in space exploration itself i mean to me the more companies that are using space as a platform the more people up there the better jeff bezos and blue origin's recently built a big new building right by the visitor center of the kennedys of driving past that so you can see the check because you the changes that are going on at kennedy right now so it's just more knowledge in genera

bezos gave what to him is a couple of dollars to help these people that are exploited in our system. the economic standoff between beijing and washington is escalating both signs of slumping hefty and poor tariffs on each other the u.s. vice president mike pence is now even claimed that china's goal is to help our president trump. china has initiated an unprecedented effort to influence american public opinion the two thousand and eighteen elections and the environment leading into the twenty twenty presidential elections china wants a different american president after donald trump brought in a first wave of tariffs on chinese goods beijing and sit with restrictions on u.s. imports it also filed an official complaint with the w.t. washington then followed up with well than two hundred billion dollars worth of tariffs against china in a crucial retaliation china announced that stopping all american oil imports of the country's top crude carriers admits the business is quote totally stopped beijing had been the second largest importer of us oil jeffrey albert tucker editor oil editori

bezos lead. i want to congratulate mr based on was doing exactly the right thing yes raise that minimum wage to fifteen dollars and i won't further up the base of those has indicated his support for raising the national minimum wage. we spoke with ati's leak host of redacted tonight the things amazones real aim is to attract good pup in the city. i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone

bezos. i want to congratulate the special was doing exactly the right thing yes raise the minimum wage to fifty dollars. this is those of you support for raising the national minimum wage earlier we spoke with i can post every data tonight to things amazon's only aim was to attract good publicity. i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're supposed to celebrate that you k

bezos . and want to congratulate was based on doing exactly the right thing yes raise the minimum wage to fifty dollars and i will go this is because those who support for raising the national minimum wage earlier we spoke with our teens lee camp host of redacted tonight who thinks amazon's real aim is to attract good publicity i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're su

bezos. want to congratulate myspace and she's doing exactly the right thing yes raise the minimum wage to fifteen dollars and i will go this is because of those industries you support for raising the national minimum wage we spoke with artie's lee camp host of productive tonight things amazon's real aim is to attract good publicity i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're sup

bezos gave what to him is a couple of dollars to help these people that are exploited in our system. the phenomenon of fake news has now moved beyond the media and academia three scholars so it's a series of hoax papers to supposedly serious journals and actually got them published despite the absurdity of some of the content. of those really. we rewrote the structure of mind comes as an exceptional feminism this term was acceptable. if this doesn't achieve anything you would actually write. a march with two papers accepted them one published it would be fair to say that we've become accepted grievance scholars by june it was three one having been official. by the journalistic excellence scholarship by july it was five by aug seventh should have been possible. human reactions to rape culture of the formative of the urban dog parts. overcoming answer poem a tree and a framework for fat body building. themes of objectification sexual conquest masculine toughness in a sexually objectifying restroom. at the joy each week in this article and the president bush and contributions to make to

followed by warren buffet and mark zuckerberg and 259th, president trump. >> jeff bezos owes me a thank you. the time i spend on there. >> exactly. right? >> at the new york stock exchange, thank you so much, diane. >> thank you. >> still to come, hitting up your phone, fema conducts a test of the national alert system with a presidential message. message. new d-con. so d-licious mice risk their lives for it. now 10 times tastier to mice than the lead competitor. mice love it to death. this morning: what went down at this millbrae intersection. plus: backlash over plans to build affordable housing in san jose. parents say: it shouldn't involve tearing down their kids' schools. construction... driving away business. we now know... the mess on one of san francisco's busiest streets.. is going to stick around longer. join us for kpix 5 news this morning... beginning at 4:30. good morning. it's thursday, october 4th. >>> here's a look at today's >>> here's a look at today's forecast in some cities around the country. >>> a washington d.c. high school student that wasn't allowed to play foot

it is not all truism, jeff bezos is playing hardball strategies when it comes to minimum-wage. jillian: how will this impact the midterms? >> this kind of economy should be helping republicans big-time but the problem they had for a long time is selling it. they have not done a great job linking tax cuts and regular shortcuts to the economy and the growth we are seeing. if they can do that they are in trouble. jillian: donald trump has been trying to do that. a lot of people from the party have been trying to do that but there are so many other things the focus has been on. >> democrats have done a really good job trying to distract, call attention to everything they can besides the economy because they know the economic story is so good. it is hard for republicans that they have to cut through that. in the last month they have to be more focused than they have been, money in your pocket, you better vote for us because the people who could get elected in november could change these economic policies. jillian: the president -- quite a bit. it does speak to something bernie sande

bezos. want to congratulate was based on was doing exactly the right thing yes raise the minimum wage to keep dollars and i will go visibility for those of you support for raising the national minimum wage earlier we spoke with artie's lee campos to productive tonight who thinks amazon's real aim is to attract good publicity i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're supp

last night ceo jeff bezos explained why. >> thinkg about inrying to decide do we want to change? we realized we made a decision, well you can offer compensation or you can decide to lead. and as soon as we framedt that way, we're like, let's decide to ad. >> that'great. >> i think people will follow. >> mr. bezos made t comments ter receiving the spirit of service award organized by the partnership for public service honoring people making a difference through work. >> general motors and honda team up to build a new car. but not just any car. itself driving and sold around the world. the reaction was med. shares of gm rose. while honda's stock fell. phil lebeau tells us why the auto giants do it together instead of on their own. >> reporter: general motorshe world's second largest auto maker is joining force was honda. technically honda i investing just under $3 billion and taking a small ske in gm subsidiary cruise. ers will the auto m develop and build an autonomous vehicle. this is a partial image of what that vehicle might look like when it's finally sold around the world at

. >> jeff bezos today has done is not only enormously important for amazon's hundreds of thousands of employees it could well be, i think a shot heard 'round the world. melissa: well, giving credit where credit is due. senator bernie sanders, previously one of amazon's most vocal critics applauding ceo jeff bezos raising minimum wage for all workers at his company to $15 an hour? what do you think about that? this is the free market at work. amazon deciding good pr. good for their efforts lobbying. they made a business decision? >> i don't know if it's a business decision. it is kind of a public relations decision. melissa: well, that's business. public relations is business. >> government relations i guess i should say i guess you could say it is part of business. you could dismiss bernie sanders simply as a marxist kook. he really has impact, getting a lot of senators to walk the plank and endorse medicare for all as he calls it, government-run health care. this is really disturbing because it was the result of a very misleading attack on amazon. he said their median u.s. pay was mu

carol: jeff bezos is also a member of the solar system's most executive -- exclusive club. they are dominating the industry of commercial spaceflight. jason: now they have a with even deeper pockets, china. here is max chafkin. max: what china has been doing is encourage private sector companies to compete with the big aerospace giants and the big national space agencies. carol: the government has lucian -- has loosened regulations to loosen the monopoly the government has in this space. max: as we write in this issue, there are three of these upstart rocket manufacturers. ing thee all kind of ap spacex model, taking the launch market. they are starting with lighter, low earth orbit launches rather than trying to do the big, heavy launches, which is what spacex can do now, and following the elon musk playbook. if you take a step back, this is what china has tried to do in other parts of the technology agency, encouraging the manufacturers to get into developing their own intellectual property, and trying to take this model of transitioning from a lower end manufacturer to d

a level jeff bezos has done recently. he's had a couple of home runs with the minimum wage and now this statement. what'swrong with having the country? i have been to afghanistan and iraq and supported troops, there's nothing wrong with supporting the military . while google and these other groups have done, i think is a political faux pas i think it is bad for the country. stuart: maybe he is angling for that big contract that the pentagon is going to award. why wouldn't you want to? >> he says it's a gem and a great country and it needs to be defended. well said! stuart: right. i wonder if mr. trump will weigh in on that. we shall see. all right, john, stay there as well. more from you in a second. some numbers on money. the treasury took in a record amount of money from an individual taxes in the last 12 months. $1.863 trillion. at the same time, our deficit went up to $779 billion. james, that is not supposed to happen. a four percent growth with a rising deficit and record tax income. >> yes. some things have changed

bezos gave what to him is a couple of dollars to help these people that are exploited in our system. russian president vladimir putin is in india for a two day visit as expected that putin on the indian prime minister new renter modi will discuss broadening nuclear time with russia bidding to build another nuclear power plant in the country in addition to the one already on the construction moreover the two leaders are to sign a multi-billion dollar contracts for the delivery of the russian s four hundred defense system that the prospects of india purchasing it has ruffled feathers in washington just like it did with other countries on earth explains why. for russia selling its weapons is not exactly business as usual in the strict sense of the word has inadvertently expanded into the realm of geopolitics because the united states gets visibly upset when anyone shows interest in buying brushes arms even made it official that preventing russia from exporting its weapons is part of their game we will continue to vigorously implement sanctions and urge all countries to curtail relations

bezos i want to congratulate was based on was doing exactly the right the yes raise the minimum wage to fifteen dollars and i won't go up because the base of those has indicated his support for raising the national minimum wage earlier we spoke with artist lee can host of redacted tonight things amazon's real aim is to attract good publicity. i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is it's better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're supposed to celebrate that you know jeff bezos gave what to him is a couple

jeff bezos makes that amount every nine seconds mr basis was named by forbes magazine as the world's richest man in twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the one.

jeff bezos. >> bumping bill gates from the spot for the first time in 24 years. >> there was mixed reaction today to the first test of the presidential alert system. >> that was wild. everyone is buzzing. >> i haven't gotten the alert yet. >> i didn't read it. >> i think it's great. >> mine went off, but it was also my alert my food is here. ( laughter ) >> glor: good evening, i'm jeff glor. and this is our western edition. we are going to begin with some breaking news. authorities say five law enforcement officers were shot this afternoon in south jericka duncan is here in the studio with the latest. >> one officer is zed and six other law enforcement officers are wounded after a gunman opened fire in florence, south carolina, about 60 miles west of myrtle beach. police say when officers arrived at the home the gunman opened fire, the suspect is now in custody. >> fire was being shot all over. the way the suspect was his view of fire was several hundred yards. so he had an advantage. >> reporter: around 5 this evening florence county emergency management officials posted this facebook mess

bezos. i want to congratulate mr based on doing exactly the right thing yes raise the minimum wage to fifty dollars and i will go with the visuals as indicated in his support for raising the national minimum wage. we spoke with. host of redacted tonight the things amazon's real aim is actually to attract a good publicist. i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organize they work together they spoke up about their situation i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is better than nothing but it is a disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're supposed to

bezos gave what to him is a couple of dollars to help these people that are exploited in our system. president putin is in india for a two day visit is expected that the indian prime minister narendra modi will discuss broadening nuclear tiny's with russia bidding to build another nuclear power plant in the country in addition to the one already under construction moreover the two leaders are to sign a multi-billion dollar contracts for the delivery of the russian s four hundred a defense system though the prospects of india purchasing it has ruffled feathers in washington just like it did with other countries artie's explains why. for russia selling its weapons is not exactly business as usual in the strict sense of the word has inadvertently expanded into the realm of geopolitics because the united states gets visibly upset when anyone shows interest in buying brushes arms even made it official that preventing russia from exporting its weapons is part of their game we will continue to vigorously implement sanctions and urge all countries to curtail relationships with russia's defen

jeff bezos makes that amount every nine seconds mr bezos was named by forbes magazine as the world's richest man in twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bizos own personally. indian authorities have moved to legally declare a major national infrastructure builder and solvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company want the company law tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow lender also known as i l n f s the action was taken under authority created by india's insolvency and banking code which only became law in two thousand and sixteen iola fast has been a large and prominent participant in the is building boom. notably built in the is longest tunnel but shahani not sri tunnel which opened in two thousand and seventeen but throughout the month of september

carol: jeff bezos is also a member of the solar system's most exclusive club. they are dominating the industry of commercial spaceflight. jason: now they face competition from a rival with deeper pockets, china. here is max chafkin. max: what china has been doing is trying to encourage private sector companies to compete with the big aerospace giants and the big national space agencies. carol: the government has loosened regulations to loosen the monopoly the government has had on this space. max: as we write in this issue, there are three of these upstart rocket manufacturers. they are all kind of aping the spacex model, taking the launch market. they are starting with lighter, low earth orbit launches rather than trying to do the big, heavy launches, which is what spacex can do now, and following the elon musk playbook. if you take a step back, this is what china has tried to do in other parts of the industry, encouraging the manufacturers to get into developing their own intellectual property, and trying to take this model of transitioning from a lower end m

in the meantime, jeff bezos is sharing the wealth that his company that just raised minimum wage. but what applies to one company does not necessarily apply to all, after this. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence. oh! oh! ♪ ozempic®! ♪ (vo) people with type 2 diabetes are excited about the potential of once-weekly ozempic®. in a study with ozempic®, a majority of adults lowered their blood sugar and reached an a1c of less than seven and maintained it. oh! under seven? (vo) and you may lose weight. in the same one-year study, adults lost on average up to 12 pounds. oh! up to 12 pounds? (vo) a two-year study showed that ozempic® does not increase the risk of major cardiovascular events like heart attack, stroke, or death. oh! no increased risk? ♪ ozempic®! ♪ ozempic® should not be the first medicine for treating diabetes, or for people with type 1 diabetes or diabetic keto

jeff bezos makes that amount every nine seconds mr bezos was named by forbes magazine as the world's richest man and twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bizos own personally. indian authorities have moved to legally declare a major national infrastructure builder and solvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company lost the company last tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow wonder also known as i l n f s the action was taken under authority created by india's insolvency and banking code which only became law in two thousand and sixteen iola fast has been a large and prominent participant in the is building boom. notably built india's longest tunnel but shahani not sri tunnel which opened in two thousand and seventeen but throughout the month of september

carol: jeff bezos is also a member of the solar system's most exclusive club. along with elon musk and richard branson. together, they are dominating the industry of commercial spaceflight. jason: now they face competition from a rival with deeper pockets, china. here is features editor max chafkin. max: what china has been doing is trying to encourage private sector companies to compete with the big aerospace giants and the big national space agencies. carol: the government has loosened regulations to loosen the monopoly the government has had on this space. kind of opening it up. max: as we write in this issue, there are three of these upstart rocket manufacturers. they are all kind of aping the spacex model, taking the launch market. they are starting with lighter, low earth orbit launches rather than trying to do the big, heavy geosynchronous launches, which is what spacex can do now, and following the elon musk playbook. if you take a step back, this is what china has tried to do in other parts of the industry, encouraging the manufacturers to get into dev

fine isnd you know that not acceptable for jeff bezos. what do you make of this? >> we are seeing strong growth. i don't think jeff bezos has anything to worry about in areas like private label products, where amazon is placing a lot of value. and on commodity products. amazon basics is their behemoth. we saw 60% year over year growth in non-commodity amazon private label products and huge growth in advertising revenue. i mean, up to 10% of all product searches in amazon come from a sponsored search. and that is up from 3% in january 2017. there is huge room for growth. emily: let's talk about that. amazon is a distant third, but could catch up. you will hear what was said about this in the next segment, but can amazon really get there? >> retail is a big segment for google. and now we are seeing larger brands warming up to amazon a lot more. 100 plus million prime members is too big to ignore. so now what happens, as sales shift so do the dollars with it. amazon is targeting 2 buckets, the search bucket and the trade promotions bucket. so they do get to benefit f

bezos. want to graduate was visual was doing exactly the right thing yes raise the minimum wage to fifty dollars an hour he. was the visuals he was indicating his support for raising the national minimum wage i spoke to auntie's lee campos to be directed tonight he thinks that amazon's only aim was to attract good publicity. i don't know if sanders still has some complaints i certainly hope he does it is not something that amazon just willingly did it with big came about because workers organized their work together they spoke up about their situation and i think that's great i think it's great for these employees to have fifteen dollars an hour but the truth is we as a people are now waiting for the crumbs of of corporate america we're waiting to see what little pieces they'll dish out to us and that two billion that he gives to charity is it's better than nothing but it is disgusting scenario in a world that has abundance a world that could feed everyone that could house everyone and we're

emily: and you know that fine is not acceptable for jeff bezos. what do you make of this? >> we are seeing strong growth. i don't think jeff bezos has anything to worry about in areas like private label products, where amazon is placing a lot of focus on. we saw back wrote 22% year-over-year. and especially on commodity products. amazon basics is their behemoth. 60% year-over-year growth in non-commodity amazon private label products and huge growth in advertising revenue. i mean, up to 10% of all product searches on amazon come from a sponsored search. and that is up from 3% in january 2017. there is huge room for growth. emily: let's talk about that. alphabet and facebook have dominated the digital ad market. amazon is a distant third, but could catch up. you will hear what was said about this in the next segment, but can amazon really get there? >> retail is a big segment for google. it is the biggest vertical for them. and now we are seeing larger brands warming up to amazon a lot more. 100 plus million prime members is too big to ignore. so now what happens, as sales

carol: jeff bezos is also a member of the solar system's most exclusive club. along with elon musk and richard branson. together, they are dominating the emerging industry of commercial spaceflight. jason: now they face competition from a rival with deeper pockets, china. here is features editor max chafkin. max: what china has been doing is trying to encourage private sector companies to compete with the big aerospace giants and the big national space agencies. carol: the government has loosened regulations to loosen the monopoly the government has had on this space. kind of opening it up. max: as we write in this issue, there are basically three of these little upstart rocket manufacturers. they are all kind of aping the spacex model, taking the launch market. they are starting with lighter, low earth orbit launches rather than trying to do the big, heavy geosynchronous launches, which is what spacex can do now, and following the elon musk playbook. if you take a step back, this is what china has tried to do in other parts of the industry, encouraging the man

emily: does jeff bezos cap about it personally? brad: he went there a couple of years ago and wanted to hand over an oversized check to the head of the india division on an elephant. they could not find i an elephant. he is using his notoriety to build a business showing how much he cares. emily: if only more indians knew who he was. brett stone, thank you so much. check that out in this weeks edition of bloomberg businessweek. areman sachs and galaxy betting big on crypto by pouring $15 million into the cryptocurrency custodian, bitgo. that is next. this is bloomberg. ♪ emily: goldman sachs is getting deeper into bitcoin. goldman and one of their ventures are investing in cryptocurrency custodian bitgo. they put in the $15 million of fundraising. guards digital currencies for institutional investors. for more, let's bring in their ceo. what you get out of this investment from goldman and galaxy aside from money? >> it was not about the money. it is much more about the strategic nature of this. institutional custody is something

bezos it has been my view that the middle class and working families of this country should not have to subsidize mr biggs owns the wealthiest person on earth because the wages he has paid his employees on so low on the many of them afford to go on food stamps medicaid. subsidized housing and other governmental programs today i want to give credit where credit is due and i want to congratulate mr bezos for doing exactly the right thing. from washington d.c. this move by amazon could have an impact on the u.s. economy it's one of the larger employers here in the united states three hundred fifty thousand full part time seasonal workers and they're going to see a pretty sizable increase and they're also saying that those who make more than fifteen dollars an hour will also see a pay increase now by the way those works here in the united states is there's a federal minimum wage that no company can pay the workers less than seven dollars and twenty five cents an hour some counties in some states and some cities have increase that minimum wage there but nationwide it's seven dollars and t

jeff bezos have been facing criticism over pay disparity bernie sanders went after the company on the late show with stephen cobett stephen colbert. >> you got jeff bezos, his wealth is increasing everyday but he pays his workers wages that are so low and many of them are on food stamps or on medicaid >> last month senator sanders introduced the bezos act, to tax corporation every dollar their workers receive. we got this, jim, on top of oil and transportation cost and tariffs maybe going to 25, we'll see. >> we keep on hearing about cost we'll talk to hugh johnston. if cost goes up, you know why the fed are so aggressive it is because of the cost. if you look at the actual new nafta, what you get is wage inflation in other country that historically kept the price of other things down. it is the classic case of why we do not like tariffs. you raise the price of overseas. our prices are depressed already, there are too many cars and homes. i don't know whether this is going to, we look at what david did on that excellent, excellent special. >> years ago at this point though >> it was l

i don't think jeff bezos has anything to worry about in areas like private label model x were amazon is placing a lot of value. commodity products. amazon basics is their behemoth. we saw 60% year over year growth in non-commodity amazon private label products and huge growth in advertising revenue. up to 10% of all product searches in amazon come from a sponsored search. in januaryfrom 3% 2017. there is huge room for growth. is a distant third, but could catch up. can amazon really get there? >> retail is a big segment for google. brands are seeing larger warming up to amazon more. plus million prime members is too big to ignore. amazon is targeting 2 buckets, the search bucket and the trade promotions bucket. they get to benefit from that shift that is happening from digger brands. they can deliver. you are advertising the product and you know how much becomeso the targeting better. google needs to go the opposite direction. commerce.ps with we think google should be more aggressive in e-commerce and take the cloud stance more aggressively when amazon is encroaching on them from an

but should the rest of us be as excited about this as jeff bezos? no. because when the president and bernie are excited about the same things, that's populism. is this a bad move by amazon? >> maybe it's okay for amazon. i am so disappointed. bezos was my hero. he's being trashed by bernie sanders. but by doing that he lowered prices for all of us and saved us trillions of dollars. his stockholders are paying billions in corporate capital gains taxes. bernie makes him out to be a villain and he caves. if he wants to say i'll pay my workers $15, great. but now he's going to lobby and make sure everybody has to pay that so he doesn't lose the competitive advantage. kennedy: but the competitive advantage here hurts other people. those most of in need of entry-level jobs probably aren't going to get work at amazon will be are they? >> they are screwed by this. kid, people who never worked before. mentally disabled people. saying i will give you a chance for $8 an hour, $15 an hour. automation will be increased and people will lose jobs. kennedy: people act

we look at what is behind jeff bezos' move to bump the minimum wage. amazon is also looking to reduce energy bills as it continues its push into our homes. we will speak to the ceo of the smart doorbell company which amazon bought on the part it will play. first our top story, tesla reported its first delivery numbers since it settled its case with the sec. the company rolled out more than 83,000 vehicles, double the number it made last quarter, and 55,000 cars were the model three. will this be a turn for the better for tesla? musk forked over $20 million to the sec. i want to bring in cathie from new york. she is the ceo of easy go, which provides public charging stations for electric the eccles. studio, with me in the dana. the numbers weren't bad. what are the most significant headlines? >> they delivered more cars than they produced in the last quarter. they are finally getting rid of some of the inventory that was hanging around. the stock is sort of muted today. the big question is demand. is there still a huge demand for these cars? emily: the