The Company Stocks of prices at 39 and rose steadily. Even as we worry about the economy ahead. Silicon companies are marching towards this. The ceo of forge which allows employees to sell shares before the company goes public. Lets start with this idea of these companies that are not yet public, that are so big. Give me a list. Spacex would be one. What else is on this list of companies we are waiting for . There are 40 companies today that are the size of what used to be a large Cap Public Company that are still private and these companies are now staying private for an average of 12 years, 10 years ago or 6 years. We talked about why companies are staying private, whats your opinion on it . Companies are trying to change the world and building something new and global. In the case of spacex, the most Cost Effective way. It is taking longer for them to mature. Because they have such great access to capitol, internationally, they dont rely on previous systems of Venture Capital. There is over 300 companies over a billion dollars valuation. Has that hurt your private transaction business . No, we actually got more. For every that goes in the last year, it is private, private trading will increase and then just before it goes out, it will decrease. The market starts to set its public price within a few months of it being public. Well, we had heard rumors of air bnb and peloton. Peloton has been reported. And air bnb is planning the first half of 2020. Right, there were many speculations. The problem that you are trying to solve employees who dont want to wait that long 10 or 12 year to get value out of companies they work for. This was not a new problem, we saw it happened with facebook. It took ten years. It was really against these progressi exchanges. Can you talk about pros and cons. I know companies dont Like Companies to go out and sell. Whats different now was not the case five or ten years ago. It is companies now recognize that shareholder and employee liquidity getting cash before it is public is a beneficial thing. You are seeing it with spacex, they got one of the broadest Company Liquidity program in the world. What they recognize is employees going to be in a company in four years and you will be private for twelve. You should publicly start helping them. The last two years what we have seen is an incredible number of institutional sellers. It driven our volume where investors are a great stage in a company for five years and theyre selling for ipo as well. So not selling back to the company itself which is what used to happen. Thats still going at some level. You are seeing a more open and liquid market because their investors all over the world that want to get in these companies and they dont want to wait until the work is 10 billion. How are you able to g around that . Our platform really has focused on working with companies. So i would say five years ago and three years ago, there were Companies Really working to restrict this and today we are seeing that loosen up and we really see a world where there are cash programs for employees and shareholders and the Company Needs to manage those. When a company like peloton before it files any sort of paper work to go public, when we hear about oh theyre about to go public. We are fluent about it in the wall street journal, everything i know i am reading it in the wall street journal. You got access to data in these companies, buying and selling and pricing, is there some sort of information in what you are able to see and does it have to be peleton. Whats happening behind the scenes that gives you some of indication. Oh, i know whats going to happen next. Well, there are two kinds of data we see. We obviously see pricing data. We can tell you the last two years of what the values or share prices have looked like in companies before ghi they go. Companies managing programs and working with providers like us, well see performance information about the company, too. Thats highly proprietary. What do you do with that information . Well, it is part of our Value Proposition to market. We share it with the companys permission. We use it to help and if you have seen direct listing lately, we are involved with the two that were gone with spotify and slap. We help set the reference pricing. Kelly, is there a situation in which when an employee or institution wants to sell in which forge orac Kelly Rodrigue would buy the stock. You dont have to necessarily be the pivot point. You can be buying in situations where oh yeah, well take that. So we have a couple of partners now that we announced one earlier this year. Some of the largest banks in the world trades through us. Largely for european and asian investors to invest in baskets of preipo stocks. They are very close to us and very close to the data so that they can essentially be a new source of capitol and demand for companies and investors. They dont want to buy a single one but a basket of them. Sometimes it is by the time they do, they actually end up trading lower on the stock market than they did in their last private round as we saw with some of the others. How is that impacting your business . It is an incredibly important question right now in the market because these companies are now if you look at the ones that went out this year between 9 billion and 70 billion. There is a question of what is the proper entry point . Is it the ipo or sometimes earlier . The critical answer is when luke you look at the big ones, it comes to how much they disclose themselves. Disclosure on uber, the world did not know some of the c convertible structure. It became difficult to understand whether it is a good deal or not a good deal. And speaking of disclosure, one of the challenges of private market trading, sometimes people make investitive trading or having information they would or public shareholders, is there anything that could happen and change that . Thats the most critical, i would say the next three years it will see. I believe well see private companies, disclose more than they ever have. To get access to large sources of cash, you have to disclose and previously that was disclosed to a set oventuf vent list. We have seen companies were aahe ahead of ipo. Do you think well see kind of a mini earnings and coming out of the companies ahead of going blic. You have to go out of mark markets, too. Is it possible that you would be a canary in the coal mine as far as a coming recession or coming downturn in the sense that companies will begin to realize it. Well not be a i believe to take it to the Public Markets or things have gone sour. Those sorts of things. We saw it happening quickly in the dotcom bus for instance. I am not suggesting it will happinessl ha necessarily. I could sell now. Fair theory . Well, whats happening is as employees understood that liquidity or cash where their stock is assessable to them. I dont think it is necessarily a recession impact. I think a recession has an impact is on pricing. And if companies dont have access to public capitol and they have to stay private everyone loeven longer and their prices affected by a market slow down, theyll allow more on capitol sources to extend their private life. Mr. Rodriguez, thank you for being with us this morning well, you cant make a robot happy because robot dont have feels. We do, and it is important to make a robot smile. Welcome back to press here, i am going to show a little video of a robot, it is called keke. It is a cute robot. I am going to guess most of your attention is on the robots face, its eyes. That robot is reprogrammed but so so too are you. You are programmed to search out faces. Keke has a face. Mira is a robotic expert. Well talk about feel. How do we give robot emotions . Well start out with whether keke is a him or her . It is how you decide to be. We are using a she for now. Is keke a cat or a raccoon or a robot . I am projecting, arent i . When we design her, we drew a lot of inspirations from animals. A lot of people think it is a cat, it is really up to you. And you can see and this was not intentional. Twice i have projected on that robot which was what we are talking about. I have tried to figure out what gender it is. And i think it is a female cat. It is whatever you want it to be. Yep. Fair enough. What is the purpose of this particular robot, the evolution of adorable robots whether it is a robot or character or personality based robot, talk about what your goals are with us . For many years, people have been building robots, industrial robot or home robot making our life efficient. The role of kiki is bringing happiness to people. It is a companion thats powered by Artificial Intelligence so she can learn with the user of realtime so she can bring connections to users. Who are you targeting this with . We are seeing a lot of different target audiences, one of the most prominent ones is actually the seniors. They want to have a companionship from a real pet but a lot of effort to take care of one. They want to adopt a robotic character. How do you give a robo robot you can give it years and make it look cute. Emotionally with the faces itself and everyon going back t the tamaguchi, how do you make somebody care whether or not, this is the late 80s whether the tamaguchi lives or dies . It is an lcd screen, right . How do you make me care about the robot . It just winked at me. How are you doing that in reading peoples emotions and giving a robot emotions. It is a really good question. Humans are hard wired to love characters and stories. So there is researches will ask the humans to smash down a robot. When the robot actually has a back story, the humans are likely to smash it. With kiki it is similar story. It is a character that has eyes like us. When ever people see it, people already think he or she and does it has its needs and wants so they want to help protect the robot and make it live in a Good Condition so thats what actually brings the first level of emotional connection to it. So we saw this robot, is it on the market and how much is it . Kiki is preorder. This one is different from the one we saw at cs. It is four generations later of that prototype. Right now it is for 799 for the preorder price. One of the concerns people have so i am going to be the tech here. Part of the reasons these robots are cute and adorable is that you want to invite them into your home. Nobody wants a scary robot f th. It steps into your home and it is an ai. There are concerns about here is something that knows a lot about me, and you are keeping that information and that data whether it is in the cloud or something, how do i know that i am not going to be bamboozled especially i am a senior relying on the robot and ordering things and get caught up potential scam. Thats a general concern of inviting a friendly critter into your home where you cant see its brains. We dont want people to sacrifice their privacy or security just because theyre living with a robot. For home robots is possible for us to have a device processer thats able to process all models on board. Right now it is going to be very fast to learn all the algorithms so kiki can track faces at a fast speed. Another is making it hard to attack because none of the data are uploaded in the cloud. Everything thats stored in the robot should be encrypted so that even neighbors kidnap your kiki, your robot, your data is still secured. I know you are aware of gibo. It looked vaguely similar and its head would pivot around and stuff. The company shuts down which meant the big server, the cloud that was powering this robot. A lot was not happening at the local level, it was happening in the cloud shut down. It is haeartbreaking. People put videos on youtube of gbo announcing it was going to go away. It is like frosty the snow man, it was awful. If you have on board processing, how dependant am i on your company staying alive that my adorable is going to stay alive. Kiki will stay alive as is. She will be able to process all important output and input. If you got kiki, you have this character. You already have it. If your company dies, of course, future updates it will work on. Fair enough. With kiki, the personality can be cloned. If the future if you switch to another device let me squeeze in one more question. I want to go back to emotions. Mechanically, you can do just about anything. Thats years of things. What makes it emotionally as someone whos one of the top robotics schools in the nation. What is the thing you cant do emotionally that you wish you could do . I guess to have infinite degrees of freedom because if we look at a real animal, the way they move, they have a hundred motors combined with their hair and flying in the air and it is just infinite degrees of freedom. With robot, every motor is costly and every motor adds a degree of complexity, too. We can have infinite degrees of freedom. You mention the price of 799. This is an 800 robot. What makes you think that seniors are going to recognize the potential of this before shelling out that kind of money . Well, it comes to the values of what the robot can bring and what kind of alternatives there are. I wish that robots can be affordable. The truth is in order to have all if algorithm, you need a powerful processer and you need higher resolution screen and all of that combined is making robots very costly at this moment. Mita and kiki, thank you very much. Well be back after this break. Apples new iphone 11 went on presale the weekend with the first phone hitting the stores on friday. The latest phone, and we got more details. Taking place in a familiar place of new television newsroom. Welcome back to press here. Lets talk a little bit about apple. What was the main take away . The big take away and the most innovative thing that was announced was the price of their devices. I found it is a popular smartphone. And everyone waits every september just like the leaves change colors on the trees for a new iphone. This time the discussion was not the features, they introduced three models of iphone 11. A lot of the rumors, they started the pricing 699 and they kept older models that are less expensive. Apple is getting up there after two years of pushing us all towards the idea of 1,000 plus phone and dropping the price. Part of that, i have an iphone 6, here i am working in technology and in Silicon Valley and i have not been the new ones are great and fabulous but mine is good enough and i think so is that price pressure of 700. Absolutely. We have seen the market for smartphones really start to slow. Apple have said in the past year, tim cook, they see their future growth can soften growth. You are not the one keeping it for two or three years. Generally most speaking most people especially in established market. I read there are now six things you can subscribe to with apple. If you did, you would be paying 55 bucks a month. Or more. That may be where apple is indeed coming that dependable income if theyre not going to sell me a thousand dollars phone. Whats the third one . So there is wide lens and there is telephoto. Whether or not we are already for 5g its rival in the phone market have been pushing for 5g. Whether or not we are ready for foldable phones, they have been others pushing on the edge of this. Apple made a point and this was one of the talking points throughout the presentation, well give you innovation that matters, not whats buzzing in the market as their kind way of saying we know maybe. You wanted other things but we dont think the market is ready for that. On thursday, 10x gonomix have made its debut. I got to be honest, i dont know what smile direct club is. It is the clear braces and they grew to where they were 9 billion company. But, that did not last long because it did not do well on its first day of trading. Thats unusual to price above the expected range and to trade down on the first day of trading. The bankers definitely misunderstood the market demand for this. What they were looking at is Strong Revenue growth and considering how young the company is, there is also concerns out there from orthodontics. If you are doing this at home and video chats with dennis, thats not as good as going for the real thing. It is controversial. Sometimes it is whatrd to rerd to read because i know one that does lenses and glasses, that seems legit. We went to medical school and we learned about this. We got the industry that hay th got to protect. I am not sure of which one is the right answer as to what they are doing. Given how well it had done. There are others in the Startup Space that are doing something i similar and it raised 85 million in Venture Capital and variance on what smile direct club does. At least venture cap capitalist are optimistic about this. Capi are optimistic about this. Capi are optimistic about this. Capie optimistic about this. Capitalis optimistic about this. S are optimistic about this. Earlier i mentioned the past episode, we talked to the company that debuted on the market on thursday. We have thousands and i do mean thousands of interviews. It is on our website on pressheretv. Com. Thats our show for this week. Thank you for my guests, thank you for making us part of your sunday morning. Damian trujillo hello and welcome to comunidad del valle. Im damian trujillo, and today were celebrating 32 years of siren, plus a San Francisco latino Film Festival on your comunidad del valle. Damian we begin today with the monthly visit of the Mexican Consulate in San Francisco. With me is the Mexican Consul general, Remedios Gomez arnau, here on comunidad del valle. Welcome to the show. Our viewers on nbc havent met you. So tell us a little bit about you. Welcome to the bay area. Remedios gomez arnau thank you, damian. Well, im very glad to be here in the bay area. We cover 13 counties, from san mateo, alameda, and contra costa, up to the border with oregon. We have around 900,000 people of mexican origin in this area