Transcripts For BLOOMBERG Taking Stock With Pimm Fox 2014041

BLOOMBERG Taking Stock With Pimm Fox April 12, 2014

Have you ever had a great business idea before breakfast . That tells you it has to be a new app that everyone wants. You dont have any of the programming or technological expertise. Kuty, thank you for being here. What is clevertech . How do you describe it to people who are not clever, not technologically advanced . It is a Digital Product development agency. What we do is help entrepreneurs ring their ideas to life. What is an example . For example, if you look at our most exciting clients, domino. Com. They were founded by the cofounder of huma. We started with them at the beginning. We created a minimal viable product. We delivered in 30 days. What is a minimal viable product . When you examine an idea and you want to get it out to the marketplace, you want to validate, make sure people want what you are thinking about, develop just enough that people will be interested. What was it for domino . Domino was about home decor. They wanted to create a pin board suitable could take different images and put it on the pin board and share with their friends. Is this an expensive process . I can give you an example. We have a customer. They had nothing. They had to borrow from their friends, family. They spent about 50,000 and we created an m. V. P. For them in 60 days. Conde nast is one of the companies you have connection with. Domino. Com, they went through a series a, and a series b. They are reimagining the future of magazines. The same thing with viacom. They come to you, or what happens . A thirdparty comes in and says i have a great idea of how i can make something work better. I want someone to build this to show to people. Entrepreneurs love ideas. There are some a people who have ideas a wanted test. Ideas can be expensive to test. How much would Something Like this cost you . And m. V. P. A minimal viable product. If you had something that i want, what would Something Like that cost . We always look to find ways to validate that the idea has legs. You can create a Space Shuttle in 30 days. You can try to find an idea that is going to be just enough that we can put out a website. Thousands of dollars, hundreds of thousands . What should someone understand they have to have two see it through the first step. Pin booster had 50,000. You need some capital in order to drive. You mentioned the idea of putting something into the market. Can you expand on that . It is great to have an idea. Execution is key to the adoption. We use lean startup principles. But were trying to accomplish is having just enough so we can examine the idea and find out if there is enough people who are signing up who have the need that you think they do. What qualifies as enough . You can download a specific app and you are always reading the reviews that other people have written. You see how many stars there are. I thousand users, 10,000 . What is a great group of numbers . Like that is one of the things we talk about. Measures of success. Had you define success for your industry . They have a good clue. It could be one person. Sometimes you are looking for thousands of viral customers that are recommending it to someone else. It is not just a number. It is what they do with it. Keep us in touch with some of the campaigns and the mvps you are creating. Absolutely. Thank you. The chief executive and founder of clevertech. Coming up, the leading lady of billiards. The striking viking. D of 25 million to spare . Listen to the head of christies jewelry. A striking blue diamond thatll will cost you 25 million. It is now time to introduce you to the striking viking. Ewa laurence, being at the right place at the right time, she is now a professional billiards hall of famer. I have the chance to sit down and speak with her. I stumbled into a pool room one day. I had a crush on my Brothers Best friend. This is in sweden . This is in sweden. A twohour drive north of stockholm. Someone played pool. They just hung out. They were all athletic, playing soccer and hockey. So did i. When i walked in they had a beautiful pool room. If not the nicest one in sweden. They had 14 tables in there. Perfect lighting. I went well, this is cool. Never heard of in my life before. I played a couple of times it became instantly obsessed. I knew after the second time i played, this is what i want to do. Just to understand, youre a champion. You have won the womens professional Billiard Association championship. You have traveled all over the world doing this. Did you ever think that you would be the queen of pool . Your nickname is the striking viking. The sweetest thing. You do not set out to be a star or someone who changes the game, or a legend. You play because you love it. Then, all this other stuff, winning championships, getting inducted into the hall of fame, making a change in the sport comes as you are doing what you already love to do. What is the sport of pool . Tell us about the individual games and scoring. How can people learn more question my you have three different major games. A very old game, derived from the same background as golf. It is played in the u. K. Then you have a table with no pockets. You play with two white balls and a red ball. It is different. Then you have only play in the United States where you go to the regular standard nine foot tournament table. It is something you would find in somebodys home. This is eightball or nine ball. Describe the strategy that goes on in your head. I understand it is physics on the table. But to a certain point this is about thinking one shot, many shots ahead. It is like the game of chess in a sense. You play ahead. Usually, it is an open table, i will think to balls ahead. Obviously may have to adjust if you get out of line and come up with a plan b. You really do think ahead. Is one of the ways you do that by trying to introduce the sport of pool to as many people as possible, particularly outside of the United States or europe . Asia is a big area were pool is getting popular, particularly among young women. It is going crazy over there. It has always been an important part of my life. When i played pool in sweden, nobody said i cant believe you are playing. What kind of nice girl like you plays a sport like this. Like there was no reference to the hustler movie or jackie gleason, or paul newman. Not at all. I cant believe it youre playing pool, and i had my daughter young, the other parents would go on. It would drive me crazy. It is the most beautiful game there is. I could understand, what is everybody think everyone is a minnesota fast type . That was strange. One of the things i set out to do was change that image. It is always been the image that brunswick has had. When they asked me to represent them you are the only player who represented. 1988. That was on my life changed. To actually doing this for a living. They gave me the luxury of having the plateau. And became the president of the womens professional billiards association. From there, i was able to secure the contract with sponsors within the industry, getting a contract with espn. Explain also that there was a situation in which the cause you retain the rights to the video of the championship outside of the United States, that is a big bet was able to let you build a business. Exactly. We sold the rights to europe to read it was shown a lot over there. The popularity has gone up with women. It is amazing how popular. When you think of pool now, what would you like to see happen in the next five years . The thing that is close to my heart is people having a table in their home. My kids, my daughter, instead of just sitting in front of the television, playing the greatest family game. There is no better way to get together. That has become interesting. Brunswick game on is a website where you can learn about the game. I have a lot of videos to show how you can teach kids. Is there something about the green . Do you recall throughout your career, the green itself creates some feeling . There is a piece there. A lot of times we use blue now because it shows a better on television. To me, this is what a pool table should look like. That warm green color. It puts you in that place. That is one of those things i thought was sexy when i walked into the pool hall in my hometown. A dark room with these lights over the table. It is staged. That is part of what hooked me. I couldnt let her get away without showing me some of the skills that have made her the best in the world. After we spoke, we had a pool party. The main thing is, when you add, this arm is straight up and down. You dont want to have to adjust it. I say to people, dont hold the cue. Cradle the cue. The cue does all the work. Anywhere from here to here is the best to break the balls from. You want to have a push. It doesnt matter if you hit it superhard. Get a straight hit. In trick shot, the set up is important. Having someone show you how to shoot. I think weve got it. My thanks. Looking to add Something Special to an anniversary, how about a 25 million blue diamond . We will take a look at what these diamonds are about. On april 16, christies new york is set to auction off a Harry Winston pink diamond expected to fetch between four and Million Dollars and 6 million. That is just the tip of the iceberg. A blue diamond will be auctioned off, 25 million. Here to tell me what makes these diamonds so valuable, rahul kadakia. Thank you. We had a 14 karat orange diamond. It sold last november for 35 million. That has brought us more collectors. We have more special stones. We have Something Special, how about offering them for sale. Lets start off with the blue diamond. This is something you may not think about. A diamond being blue. They form less than two percent of world diamond production. The blue is caused by the elements of minerals they go in the stone. To have a stone that is 13 carats, flawless, no imperfections, and to put it in laymans terms, this is the rollsroyce of blue diamonds. Is there anything comparable to this impeller that exists . For something that is as dark but not as pure in color, the hope diamond. That is not for sale. If you want a blue diamond, come to christies. He have to go to geneva. Or call into geneva. You can be on the phone. The same thing for the white stone that looks like a diamond. The raja diamond. It was purchased in the 1800s by mr. Morgan. Towards 1880, tiffany purchased the diamond and sold it to Isabella Stewart gardner. Christies sold it for the first time for 2 million. It is back with us now and is going to be make more than 5 million. Is there a way to determine what is going to be the fashion . We know about color diamonds. People have realized how much rarer they got, how rare are defined in large sizes. This education the market like we have seen the good temporary art market that has driven prices to a new level. Lets talk about a pink diamond. This is one that is available. People can go and see it in new york because it is going to be auctioned off. That is right. You can see all of them. We are on exhibition. Everybody is welcome. The pink is a harry went and im in. A very strong color. What is great about this diamonds, it is being offered by a nice couple. All of the proceeds from the sale of the diamond will go to animal welfare. A good cause. What kind of demand you expect to be sustained . After these auctions, is there going to be another way . This seems like the second big wave we have had. It has been going on. At the end of 2011, when we had the sale of the Elizabeth Taylor collection him a christies jewelry totaled 605 million worldwide. When are we ever going to do this again . Last year, when i saw the yellow diamond, that was 20 years in a row that christies has been going on the up. When is the market going to stop . I dont know. We can enjoy all of these diamonds. Thank you very much. Christies american and switzerland head of jewelry. Thank you for taking stock

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