Transcripts For BLOOMBERG Bloomberg Best 20160327

The first piece in your Global Economic session is on brussels. Obviously, a lot of attention there. This is home to the European Unions headquarters. We know that because one of the bombings took place at a metro station right outside of them. This is a city with a lot of internal tension. Ellen our stories sort of takes a step back from the tragic events of the last week, looking at the city as sort of a tale of two cities, where you have the European Union and all of the people who work there. David bureaucrats. Ellen bureaucrats, yes. Then you look at the people who live in some of the very poor neighborhoods, including some neighborhoods that are heavily muslim, where there is high unemployment and where there is this huge economic divide. And inequality. One of the things we deal with is how brussels is run in such a way that it has six Police Forces and has 19 municipalities within it. And just how hard it is, to govern and meld these communities together. David illustrating also how insular some of the communities are. The government does not have a good sense of what is going on. Ellen they do not have a good sense of what is going on with them, and the National Police force is relatively small. Belgium is also focused on regional tensions. They are flemishspeaking, frenchspeaking. So tensions have not been spent on melding immigrants into the Bigger Community at large. David on the cover this week, jack dorsey, the ceo of twitter, also the ceo of square, on the occasion of twitters 10th birthday, a real turning point for the company. What do we learn from hearing from jack dorsey . Ellen it is the 10th anniversary, and twitter is in an odd spot. Revenue is up, but they have yet to turn a profit. The big problem is they have plateaued out at 320 million users, which is a lot of users, but it needs to get bigger. David people try it, and they do not come back. Ellen people try and sometimes they do not come back, although, again, 320 million is a lot of users. People are looking to see growth and to see growth in revenue as well, so that is a problem he is dealing with, and he has a plan to get twitter to 20 years old. David we talked to felix gillette, one of the authors of that story, along with sarah frier. Felix he wants the world to know that twitter has an identity, and it knows what its identity is. Over the past 10 years, a lot of people were like is it a social network, is it a social conversation, what is it good for . Is it good for media, for celebrities . Twitter never had a strong response. His First Response is twitter is live, a conversation happening now. It is a public conversation happening all over the world about big events taking place. That has been the focus, and it helps to have some sort of identity in terms of part of their big challenges. It is not just a marketing challenge. Convincing the hundreds of millions of people who have already used twitter and decided it was not for them. They have to get those people back and give it a second chance. It is harder than getting people to check this thing out for the first time. David when i turned to twitter, it is during the big event. The academy awards, if there is a president ial debate on. I gather what jack dorsey wants to do now is, if not create more live events, mine the twittersphere into live events. Felix we used to be the super bowl. Lets see if we can make each nfl game a live event and have fans of those teams have conversations in the same way that people gather to talk about the super bowl. And even lower than that, he also has very high hopes for periscope, this Live Streaming app that they bought last year. Periscope basically lets anybody with a smartphone turn it into a Live Streaming device. You can film what is going on around you and then broadcast that on periscope, but also on twitter. Part of what he sees in the future is that suddenly there is live events happening in your neighborhood, like on a much smaller scale around periscope and people broadcasting live what is happening around them. And that people are gathering to have little watercooler conversations there. David do you think of twitter, the service and what it has done how integral it was to the, arab spring it was not the company that was really playing a role in that. You have a set of devoted users who wanted to accomplish some sort of goal. It strikes me, what is changing now, is the Company Wants to play a more active role in the kind of content that people are using and consuming. Felix definitely. They are flexing their editorial muscles for the first time. They built this amazing global microphone for people that wanted a microphone. It is a great service. But the problem is a lot of people out there do not really want to broadcast anything to the world. For them, it is kind of a useless service to do that. So in order to get bigger than 320 million users, to get to, say, one billion users, they need to convince people that do not want to broadcast to the world that there is some other reason to be there. Basically, what that boils down to is, ok, you do not have to tweet to enjoy twitter. Come here, and you will get to listen. Sit back and you can almost treat it like you would cable television. It is a place to consume media. But if you invite people here to consume media, you also have to shave it for them, you have to curate it for them. That is what twitter is in the early stages of doing, figuring out how we take this huge fountain of human thought and slicing it and dicing it and making it more presentable to people who are newcomers who just want to sit back and say what is going on on twitter. David how radically different are the two visions for this company . Dick costolo being the ceo before jack dorsey was. Felix i do not see a huge amount of difference at this point. Jack had come back in 2011 to become executive chairman of twitter. David so he was there. Felix he was there. Behind the scenes, he was advising the former ceo. He has been a part of this for a while. Having him become ceo again and take on a much more public role, i think the major difference is you get jack dorseys style and vision front and center at the company. They think there is obviously valued in that. This guy has been hailed as a great tech visionary. He has a vision for the company. He is the kind of salesperson that we need at a time when we really need to step it up in terms of our market, in terms of public relations, in terms of just the story that twitter tells the world are about why they need to come back to twitter and give it a try. David ahead on Bloomberg Businessweek, the magazines creative director tells us how investors may interpret twitter ceo jack dorseys pose. And move over, propecia, the exclusive danish hair clinic setting up shop in beverly hills. All that ahead on Bloomberg Businessweek. David welcome back to Bloomberg Businessweek. I am david gura. In this weeks features section, the profile of stephen spinner. He was in charge of the controversial solyndra investment, but now he has created software crucial to politicians getting elected. I spoke to reporter josh green. Josh i first met Steve Spinner when i went out to Silicon Valley to do a story on the upandcoming candidacy of barack obama, who had just challenged Hillary Clinton and had surprised the political establishment by managing to raise enormous amounts of money, raising more money than clinton did. One of the ways he did that was by tapping into Silicon Valley guys like spinner, who at the time were interested in social networks. Spinner, who is an ordinary middleclass guy for Silicon Valley, not a billionaire by any stretch, wound up being one of his top 10 fundraisers. David joining the ranks of wellknown celebrities. You write about how he weaponized the algorithm. What has he done . Josh after he left the obama administration, he is an entrepreneur and got to thinking about what company can i start, what problem can i solve . The one he knew best was fundraising. Spinner essentially wanted to build in software form what he himself had a near in obamas obamasioneered in first campaigna nd th campaign and then his second campaign. The idea that instead of manually going out and calling everybody in your social network and trying to figure out whether they were republican or democrat, pissing off a lot of people because you guessed wrong, he and his cofounder wrote an algorithm that essentially you tell people who you are raising money for. You upload your contacts, and it spiders through the web and checks those names on everything from the federal election database, affinity groups, the sierra club, and the software can essentially figure out your politics and figure out who you have given to, who you have not given to, and who you would be likely to give to. That is the important thing about the software. It returns your contacts to you, optimized by the propensity and likelihood to give to whoever or whatever cause you are raising money for. That is an incredibly valuable weapon in washington, because it is going to be easier to raise more money and give you a competitive advantage over whoever it is you are running against. David you say Steve Spinner did this after he got out of the obama administration. He was at the department of energy. Oversaw the loan grant to solyndra. He is a nonpartisan figure now, selling the software to both democrats and republicans. And a lot of folks who took pleasure in criticizing solyndra are now ponying up to buy this program. Josh after the first campaign, he took a job in the department of energy, working on the team that dispersed the 30 billion or so in stimulus funds that were earmarked to promising Clean Technology companies. What spinner and his team did were to act like venture capitalists for the government, only instead of taking equity for a company, they were trying to grow these Cleantech Industries and create jobs. Overall they did an excellent job, investing in tesla and other good firms. The one that did not work out was solyndra, which went bust not too long after doe gave them a loan guarantee. Spinners name turned up in emails, not because he made the decision to invest, but because he organized the ribboncutting ceremony for joe biden at solyndra. Republicans recognized that this was an obama fundraising. They decided lets make this guy look like a pinata and attack him. It became one of the main strategies of mitt romneys campaign was to talk about solyndra, to suggest it was a villainous conspiracy between these fundraisers and obama. It did not work, but one of the great ironies in this piece is that spinner has managed to attract both democratic and republican investors, including some folks on the mitt romney campaign, who were his former tormentors. They recognized the value in the software and what it could potentially do in the republican party. So they have made amends and are in business together. David coming up on Bloomberg Businessweek, the states where it is still legal to discriminate against gays, and what Corporate America is doing about it. And a new hair clinic promises to help the folliclychallenged. David welcome back to Bloomberg Businessweek. Im david gura. In the companies and industries section, reporter jeff green writes that the ongoing struggle for equality in the workplace in americas heartland. Jeff 54 of americans are in a state where if you are gay, somebody can say i do not want to rent to you or i want to fire you and you do not have legal recourse. It does not seem fair. You can sue, but you will probably lose, because the state law does not reflect protection for those people. David how are Companies Navigating that terrain, companies with outposts across the country, figuring out how to deal with people in places where culturally it is different than where they might be headquartered . Jeff most companies now protect on that basis, so at least in the workplace, you are fine. The issue becomes when you have somebody who is in a protected environment at the moment, you want to transfer them to someplace that is not protected, that can be an issue. Companies will have to have policies in place to deal with this. The focus of the article is looking at where companies are in this process and how it can be difficult if you are in an environment where the Broader Society is not ready for this kind of discussion. David you look at hormel foods. What happened there . Jeff were looking back in 2011. They had a really low score. Companies are scored on a scale of zero to 100, and they were at 15, which meant they were basically doing nothing. They did have the basic policy in place that said if you are gay and we find out, we cannot fire you. That was about it. So they said we are going to improve that. A baby step as far as they thought was they started adding dates to the calendar such as gay pride day and National Coming out day. It is a paper calendar. Really simple thing they handed out every year. I was talking to the head of hr, the senior vice president. He passed this thing out. People started emailing him, then they started stopping by his office and throwing them on his desk, saying we do not want this. I guess they thought this would be Something Like a baby step, but it turned out to be a turning point. There were some executives who said we have to stop this, we have to go back to the old calendar. The ceo said, no, we are going to push forward. That was a turning point for them. David where does a company like hormel foods turned to guidance as it approaches this . Jeff in this case, they did it themselves. There are some best practices out there. There is a group that sets standards and guidelines you can follow, and you can look at the application. Their own employees talked about and in some cases, the experiences had directly, one of the people i talked to help the transgender employee with that transition, and in the process, realized how many of the policies that were in place were counterproductive. They did not realize it, because it was something that did not matter to their company. Part of it is just realizing you have gay employees. That is a big step for some companies. David we have seen in the news states that have tried to pass legislation that would make this discrimination legal. We saw in indiana, and we are seeing in georgia as well. We have seen some ceos of Big Companies are fighting against it. Like marc benioff at salesforce. How salient is that argument . Is it getting through to people on the ground, saying here is a guy threatening to pull jobs out of my state of things do not change . Jeff georgia is one of the states where you can be fired for being gay. They are adding additional protection to people who do not want to hire or deal with people who are gay. In georgia, you can already be denied housing if you are gay. This is adding a layer of protection for religious people in other situations that they feel they might be under threat. So states like indiana and georgia already allow a certain amount of it. So that, by itself, may be hurting them. When these things happen, it can be worse. The latest statistic is there are 32 states, 200 different bills that the Lgbt Community considers a threat to their lifestyle. David as you are reporting this these, i imagine you talked to a lot of people. I wonder if any story stood out to you, people who may have wanted to take a job in a certain state and decided against it, someone who might have faced some challenges with recruitment . Jeff there is another company in the story, eaton. One of the workers instrumental in getting the Company Public perception, she said if it were not for her partner that she had in the state, in ohio, that to her was such a hostile environment, a state that you are not naturally protected, that if it were not for this job and maybe her partner, she definitely would not be there. That is sort of a thing she hears from people as they are trying to recruit. They kind of check out the company, what is the situation there . In a state that is already seen as hostile, it becomes difficult to recruit, which is why companies are taking extra steps. David in the etc. Section, we introduce you this week to a new global fraternity, an exclusive club that not everyone gets in, including royals and rock stars. It is a hair clinic. Bret the company is called harklinikken, which means hair clinic, which is not as sexy as the name, and basically it 30 of people who apply. It is kind of like a cult. David so you apply the tonic and then you go back and forth with representatives of the company . Bret right. With representatives who want to make sure it is working. They say has a 30 to 60 chance of getting your hair to regrow. I have not heard of it previously. Bret it is huge. There are clinics in germany, norway. There is one in dubai. They opened a Test Facility in tampa that was successful. And they opened one in beverly hills. And they opened an online consultation so you do not have to be in a particular place. David any scuttlebutt about who is using it . Celebrities . Bret they say celebrities and they also say royalty. They will not disclose names. And our writer, john ross, has been using it. Unfortunately, you have to apply it twice at night and you have to wait a halfhour between applications, generally. And he is falling asleep between the first and second application. David next up on Bloomberg Businessweek, forget casablanca. Hello, djibouti. The tiny african country is becoming a hub for International Power games. That is next on Bloomberg Businessweek. David welcome back to Bloomberg Businessweek. Coming up, how this weeks cover got made, with twitter ceo jack dorsey. The startup that aims to revolutionize air travel with a supersonic jet. The gamble that warner bros. Is making on the new film batman vs. Superman. David so many mustreads in this issue. In the focus on retirement section, you look at vanguard, which has become this mammoth industry, more than 3 million under management, and they are pioneering this hybrid of having robo advisors, having computers help people decide where to place their money, and also through Digital Access to Financial Advisors within the company. Ellen theres been a of attention on robo advisors over the years. Most of the attention has been on startups, betterment and well front, but vanguard has gotten into this business and has immediately become one of the leaders in the field because they already have so much under management. They have added a twist, which is for many of their clients, they do have not just sort of robo advising, but also actually people. David and use skype with them or talk to them over the computer. Ellen you can do chatting on the computer or talk to them by the oldfashioned telephone, and they will try to get a better sense of what your needs are, what your other assets are and put you in the right place. It is interesting that there is this competition between startups, but there is also competition between the startups and these huge players, and schwab is in it, too. David there is a vanguard throughline through this section. One of your reporters tries to track down her pension. There are people with fine benefit pensions. They move from job to job and they lose track of them. She had a heck of a time trying find out where this money was. Ellen it was kind of like a detective story. Our reporter tried to track down a pension from way earlier in her career. What she found was the company she had worked for had been acquired, maybe split, and part of it had gone into bankruptcy. So the question was, had the government taken over the pension . It turned out that was not the case. She tried looking it up in various places with organizations that track lost pensions. Finally she found it. It happens to be at vanguard. Just sort of a coincidence, she found it because she talked to someone who had talked to someone who knew where the old pension had gone. It is sort of a warning to people because this happens a lot. David there are Government Agencies that try to help you with this. She kept running into dead ends. Ellen she kept running into dead ends. She went to one agency but they did not handle the states she worked in or lived in, and that became a problem. So she kept moving from agency to agency, talking to people, and she found it. This happens with 401ks, too. It is not just pensions. David lastly, an incredible piece in the horn of africa, across from yemen. Djibouti is not a commonplace that people have been to, but it has risen to prominence after september 11. Ellen it is the size of new jersey, djibouti. About it,eople think it is not a most peoples plans for vacations. It has become incredibly important because it is strategically located and it has become a place where lots of countries want to have a military presence. The u. S. Has a huge base there. China is moving in. Japans first space in many decades is there. All kinds of nongovernmental organizations are there. It has become the casablanca of this decade. It has that feel. Our reporter even goes into a restaurant, where sort of everybody wants to be seen. It has that vibe to it. David we talked to our reporter. Starting with september 11, for example, the u. S. Right looking for a place where it could establish its firstever military base dedicated solely to counterterrorism, and it looked for places that had access to both middle east and to africa, and djibouti emerged as the most logical place to put a base. David how stable a country is it today . Relatively speaking it is quite stable, but its neighbors are somalia, ethiopia, eritrea. South sudan is in the neighborhood. It is surrounded by a lot of countries that are basically on fire. David what drew you there . Yes, theres the creation of but it istary bases, a very nascent, growing place when it comes to business and development apparatus. One of the reasons was that china recently announced that it was opening its First Military base abroad and putting it in djibouti. So you have this dynamic where you have all of these countries that are not necessarily they are not enemies, but they are also rivals. So you have the u. S. , having its biggest military base in the region just four miles from where china is going to open its first Foreign Military base. Japan is right alongside them. I wanted to see the dynamic of all these countries that are forced to exist sidebyside in a small area and see how that works and how what sort of atmosphere results from that. David you see that at the macro level. You also make your way to a bar frequented by a lot of businessmen, soldiers from these countries, and that is a microcosm that gives you a sense of everyday life in djibouti. It is a place that is sort of a local hangout for a lot of the outsiders who come in, and i was told that this place was sort of the melting pot of djibouti. When i went there, it certainly lived up to that. There were german soldiers, americans. There were trench contractors. All sorts of different nationalities mixing, and this has it is a really good place to kind of view this dynamic of the country, but it is also attracting the attention and the potential problems that all of these different nationalities and different interests coming together in one spot might bring. A couple of years ago, two suicide bombers went into that restaurant, and they were targeting french commandos, blew themselves up, injured more than one dozen people, killed three. So it is kind of this focal point in djibouti, where all of the players come together and you can really see how the country is changing at a really small micro level. David what do folks from djibouti think of all this attention from folks moving to the capital city . Monte the government of djibouti definitely wants to capitalize on all of this. They want to leverage the interest that has come from the militaries into private sector interest. They have a plan that they want djibouti to turn into another dubai. That is their stated aim. Within 20 years, they hope that djibouti can be a regional capital for free trade. As for normal djibouti residents, it is a mixed reaction. For example, when the americans came in and started to expand the military base a couple of years ago in 2013, they announced a 1. 5 Million Program to really expand the u. S. Base there. They hired Foreign Workers from other countries such as the philippines to do that work, and there were protests at the base against the u. S. That led to a change in hiring practices and there was a little bit of tension there. A lot of other people see those militaries is something that can provide stability for the country. We mentioned a lot of countries of the neighboring area that have lots of turmoil, and they see the Foreign Military presence as a possible deterrent, for example, of islamic militants coming in and trying to take over the country. David have you ever wondered what goes into making a Bloomberg Business week cover . I talked to the man behind many of those provocative images. Here is creative director, robert. Robert very bright covers. We want to stay away from the cliche twitter blue or grey. So we tried something completely different. Orange and yellow, really bright. Then there was this interesting cafe. Jack revealed it was sort of based on the Edward Hopper painting. Very moodily lit. Nighthawks painting. Yes. Chris shot a great portrait there that leads from the inside. The cover, we thought simpler was better. David the headline for the graphic was growth stall. How was that arrived at . Robert it was slightly critical but not overly mean. David what do you want the photo to convey . What is it successfully convey to the present picks up the magazine . Robert he looks quite pensive. In terms of body language, arms crossed, which generally represents that you want to protect yourself or are a little defensive. The whole story is about him being in a slightly defensive position. He says in the story that everybody has a theory of why people do not use twitter more. So he is not necessarily being attacked, but people are questioning where the company is going to go. David next up, what it is really like to risk your life leading people to the top of mount everest. Plus, new details on the supersonic plane picking up where the concorde left off. The future of marijuana and what investors and potheads need to know about rosin. All that ahead on Bloomberg Businessweek. David welcome back to Bloomberg Businessweek. Im david gura. New york to london in just over three hours that may become a reality thanks to a start up outside of denver. Thats the story in the technology section. I talked to ashlee vance and got the story. Ashlee the company says they are going to carve out a 40passenger jet that would fly faster than the concorde, and they think there are about 500 routes, most of them over oceans, that this would apply to. They want to charge less than the concorde, and the analysts i spoke to, if they can build this plane, they think it has a chance. These guys are trying to take advantage of all the computer stimulation technology, materials, improvements like carbon fiber instead of aluminum. By moving fast and cheap, they think they can bring it to market. David you checked out the prototype so much as they exist now in a hangar that used to belong to john denver. Out there in colorado. What does the prototype look like . Ashlee you cannot see the actual plane yet. The models they have mocked up are a bit smaller then the concorde. Otherwise it looks like the concorde. In this hangar, they have cockpits made out of plywood and cardboard that you can sit in. It feels like a business jet. Every seat would be an aisle and a window. It is two rows of single seats going all the way through. Their hope is to build a third scale plane by the end of next year, and that is when we would see how it flies and if it meets up with the simulations that they run. David how much of this hinges on materials . This would be a plane built out a different stuff than the concorde was . Ashlee it is a big deal. It is the only way you get the price down. They are seeing 30 more fuel efficient than the concorde, but thats all on paper at the moment. We are seeing carbon fiber being used in all kinds of aerospace companies. Virgin galactic is using that. That is the only way you really get to the reduction. They have done some design things around the wing and taking some of the weight out of the plane, but it is the move to new materials that is the way you get there. David what can we extrapolate about the startup culture from the way this company is being run . From who is coming up with this idea to putting it together and seeing it through . What does it say about startups in America Today . Ashlee this one is an unconventional story in that you have a former amazon groupon guy who is the ceo. He comes from the world of coupons and is now making a plane. On the other hand, he has surrounded himself with talented Aerospace Engineers from the likes of nasa and Lockheed Martin and boeing, so these people have real experience. This kind of thing used to seem impossible, but spacex, and with jeff bezos, they have proved that you can be a startup within aerospace and you can run pretty lean for the first few years before the costs go dramatically up. David you have a new show coming out. Hello, world. What is it . Ashlee it is a tech travel show where we go all over the world. Each episode focuses on a different country and the idea is to show you all the tech happening outside of Silicon Valley. We go to new zealand, iceland, places like that, meet the most interesting characters, show you the most interesting products, and bring you the most beautiful scenery along the way. David thank you so much. In this weeks etc. Section, why nobody smokes flowers anymore. Im talking about pot. I spoke with editor brett about marijuana concentrate. If you are 30 or so or under, you are not using marijuana in the same way that gen xers did. David smoking it like a cigarette, using a bong . Thats right. You are well versed in this. You are probably smoking an extract or ingesting something that has an extract in it to get high. David there are some definitions we need to get through. Dabbing what is it . That is when you are smoking an extract. The extract that most people prefer to smoke is called rosin. That is what the profile specializes in. David what is he trying to do . He lives in northern california. He sees a real market for this. What is so great about this rosin . He is trying to industrialize this rosin. Right now, theres a lot of people in their garages using straightening irons to make rosin. David industrializing it from that . Yeah, exactly. If you are making it at home, which you should not do, he did gigantic, huge, heated presses. The key to rosin is that when you smoke it, it gives you a very clean high. We compare it to nursing a glass of house red. Smoking an extract is like taking a shot of premium topshelf vodka. It is a cleaner, more potent high. David next up on Bloomberg Businessweek, sherpas tell their side of the story on the slopes of mount everest. And why warner bros. Needs a hit. Up next on Bloomberg Businessweek. David welcome back to Bloomberg Businessweek. In this weeks companies and industry section, warner bros. Is banking on a Big Box Office for its newest release batman v superman. Already be know that it spent more than 400 million and will have spent more than 400 million in putting this film together and marketing it. Beyond that, it is bringing out its most iconic characters batman, superman, wonder woman. It is putting its biggest eggs in this basket, and hoping that with all of these characters coming on the screen at the same time that it can draw and a new fan base for the dc comics and the whole universe they are planning for the next five or more years with aquaman, justice league, like marvel did with avengers. It has developed a fan base for its characters like iron man, captain america, and then brought them in together with a big mashup that had several hits with more films coming out. The pressure is really on warner bros. To make a success of this expensive film, but at the same time, its an opportunity to revamp one of its core franchises that has not been as much of a success as, say, the marvel films have been for disney. David you bring up marvel and disney here. Obviously disney making a lot of hay out of those marvel movies. Is this one are just shamelessly ripping a page out of that playbook . Anousha warner bros. Is really trying to ape the success that marvel has had with its films and building the universe of characters. If warner bros. Can have success with this movie, it brings out a lot of possibilities spinoffs, sequels, more origin stories of other characters, as it really does create a world of films. If it does not, it has locked itself out of a potentially huge market for the next few years. Having said that, some wall street analysts are already warning that the market is becoming very concentrated for movies with fewer big hits and more flops. So this sort of big strategy that a lot of studios are shifting toward, disney and warner bros. Were leading the pack. It is proving a risky bet. David can a studio recoup 400 million plus with fans of comic books, or are they having to reach out and bring people into the fold who might not know these characters and have a background with these characters . Anousha when you have a movie that is that expensive, you need people of all quadrants, as they say in movie land, young and old, and to get people to come back more than once. David are these studios doing anything different to get people to their films . Anousha there are a couple of things that are really interesting. One thing that is very obvious is that warner bros. Started off its global publicity in beijing, china, which china is now on track to become the biggest movie market in the world at the time most of these films have come out, so probably in the next couple of years. So there is that, trying to find a good audience there. But also they have been taking to social media and using snapchat. This weekend one of snapchats popular filters was being used to become batman. They are using the snapchat discover stories to show more material of these characters. David in this weeks etc. Section, another movie that aims to soar to great heights is sherpa, the true story of people who haul hikers up mount everest. I spoke with editor bret beguin about the film. April 23 its making its discovery channel. It is an interesting documentary, told from the perspective of sherpas. David these are the people who help climbers get up the worlds tallest mountain. Bret they are there to help with the assent. In 2014 there was an avalanche, and 16 sherpas were killed on the mountain. This movie looks at the sherpas who were supposed to take the climbers that were still at base camp up the mountain. As you can imagine, there was a bit of tension because they did not want to go, and the climbers that had paid about 50,000 to climb this mountain wanted to go up. That is where the tension point is. David highlight the economic disparity here. You have people paying tens of thousands of dollars to go to nepal and climb this mountain, some with little climbing experience. This documentary exposes people thatxtaposes people like to folks who have been in nepal and climb this mountain many times . Bret you have two universes, both on the mountain at the same time. David Bloomberg Businessweek is available now, on newsstands and online. I am david gura. We will see you back here next week. Emily this is the best of bloomberg west. We have compiled our best interviews of the week. Coming up, apple introduces a cheaper iphone. How are investors digesting it . Plus we remember andy grove, a , founding father of Silicon Valley and a mentor of the biggest minds. I sit down with shopify as reports swirl of an acquisition by google