Apple Backs Uber Competitor In China

Apple is investing $1 billion in a Chinese ride-hailing startup called Didi. Apple will help Didi create a platform to handle more than 11 million rides a day. Didi is the largest company of its kind in China, serving about 300 million users across the country. Apple’s investment is a blow to Uber, which is trying to catch up to Didi in China. It also signals Apple’s interest in expanding into new markets as smart phone sales are slowing. Here & Now’s Lisa Mullins talks to Mike Regan, Bloomberg Gadfly columnist, about the deal.