Thailands first new monarch in seven decades. He will be known as global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. This is what we are seeing in the afternoon session in asia. A lot of gains getting given back amidst concerns of u. S. Payroll members as the italian referendum adds more risks on the horizon this weekend. This is bloomberg. Emily i am emily chang and this is bloomberg technology, coming up, dark clouds over start of land. Well speak to ryan hoover and mexicossive with richest man lays out his views on donald trump. Mexico and the biggest threat to his telecom empire. After lagging in that navigation, apple gets serious about taking on google maps and in list backup from above and lists backup from above. Angellist is buying products and shop. Ate a one stop they use that to raise money from investors and product hunt is a popular site from entrepreneurs. It had already counted angellist s ceo among its bigname investors in terms of the deal. Joining us now to discuss the founder, product hunt founder ryan hoover and of sarah mcbride. Thank you to both of you for joining us. Why so, why now . He has believed in us and the very beginning and it was just the right time for us as a company to partner with them and we are thinking about our longterm future and talking more with angellist and what their plans are. We will help startups in different ways, not only from funding, to tell them to distribution and discovery. Emily im curious what you found in the fundraising environment. Ryan theres a lot of talk about the environment. It has changed in many ways, but todays companies are getting funded today. We are seeing more and more people Building Products and companies and also with less resources and time. We are living in a world where Distribution Channels exist, the internet and app store, amazon, these places to distribute your product. Despite talking about the fundraising environment being difficult, the truth is, it is a great time to be a company builder. Emily whited you sell rather than raise more . Ryan if you look even 10 years down the road, how do we get there after . Many of it is through partnerships. Partnership with angellist makes a lot of sense. Angellist has a fantastic talent platform and has invested a lot into it and continues to invest a lot and that is something we can see being part of product hunt and angellist together. The barometer eisai is down 15 from a high of last the start of barometer is down 15 from a high of last year. Danielle we figure out the data from a long time ago. The four points on the screen , howhe number of deals many of those deals are first financing, that is an important metric of how healthy the industry is and the future, and the number of exit. Sarah simply, how many have been acquired or how many have ipod. Bloomberg makes is that together with its secret sauce and comes up with this barometer. Very speciala sauce. Would you echo what youre hearing from investors and entrepreneurs, what brian just said about the environment . Sarah i might be less optimistic than ryan. It is much harder to raise. If you look at the numbers, far ther companies are raising level, which is leading into a exits inof those big the future, but also, it is a little bit hard to tell because some of those funding round are actually going up in size, so fewer of them are bigger. For companies that are not kind of blockbuster, it is a little bit hard to get funding right now. For the startups, ryan, that you know, that for the sta, that you know, that maybe are in this sort of transition for apple or middle ground, what are they doing what are they planning doing . What are they planning . Ryan cutting your costs is the easiest way to get to the hockey stick growth. Know, people, you shut down companies when it does not work out. That is what you end up doing or raised the bridge around. The environment changes. We go through these problems ultimately and to take it back to angellist, this is what angellist was founded on to start with, to help companies and investors connect and raise money to live. The funding environment is shifting and the political environment has changed. Do we see more acquisitions, tieups like this . Do we see the cream rising to the top, if you will . Cream rises to the top situation when the environment gets the call. A really good company can ipo no matter what, but then, there are just these events that are causing a lot of problems, i mean, if you look at the barometer, you will see around here in the summer, this is right after breakfast come be rexit, this was an interesting obligation that hit all market hard, including the startup market. Upwill see how how this ends affecting startups. How do you help startups given the environment we are looking at . Things will change but a lot of it will stay the same. What is your vision of angellist and our vision, and how do they come together . The roadmap is staying the same. That is our longterm plan. The way i equate this is thinking about what does it look like when facebook bought instagram . Uptagram would be gobbled and turned into facebook photos. The opposite happened. It has grown to become a massive platform. Emily interesting. All right, ryan hoover, ceo of product hunt. Capitalide, venture reporter. Thank you so much for stopping by. Watching,ory we are driven by large orders and yells, plus, a new product push. I sat down with Ceo Aaron Levie to talk about what is fueling growth. One of the core things about our product is that it makes sense to any sized business in any industry around the world. We see dramatic expansion because of new customers on board. We have 69,000 businesses that use the product. Accounts. Ing extended some of our new products that we launched that our products in terms of the revenue model have actually been performing very well. Coming up, we get our hands on snap spectacle think to jeremy lou from lightspeed. This is bloomberg. Emily there has been a major shakeup at small books. Howard schultz is stepping down as ceo next year but thing on as executive chairman. He built the coffee empire and spent two separate times as officer. Johnson is known as a tech veteran before joining starbucks in 2009. Since johnson became chief operating officer, starbucks has rolled out mobile ordering across the u. S. And tested delivery. Investors are rushing to snap up shares of snapchats parent lowany, but they are having look with typical private stock. This is according to a report by they scout out become a first hardware product, spectacles. Of lightspeed brought over a pair for a test run. How did you get your spectacles . I have a feeling you did not wait in line for six hours. I have some friends at snapchat. Emily the only way to get your hands on the new spectacles is to stand in line for hours at pop up vending machines across the country. 130 a pair or up to thousands on ebay. Like steve, jeremy lou was a lucky 1, 1 of snaps first investors. How does it work . Button on the top and when i press it, it starts recording video and you can see the light has gone on so you are being recorded right now, and ynchs it stops, it s through bluetooth to my phone. It goes directly to snapchat. Snaps, gusts, in the and edgy colors. They have a certain core factor, but you got to wonder if spectacles will actually make a cool dent in snaps business. When you heard they were going to get into hardware, what did you think . Found that evan and the team have demonstrated that they know better than anyone else what their users will want. Emily ok. [laughter] emily give it a try. And you are recording. Can you see the white emily pay. Oh, hey. It records circular video. I went is planning with my daughter and not having to criticize dropping a camera or phone, being able to record that experience was pretty fantastic. Emily why do you think spectacles will do any better than the google glass . I think it is obvious just looking at them, dont you . Emily google glass retailed at 1500, more than 11 times more than articles. They can do a lot more things. Jeremy liu believes the price point will help get the product in the hands of the masses, but will spectacles be able to have longterm staying power . Bring back ryan hoover. You have not tried it, but you saw our little experience of their. Im sure you heard a lot about re. Experience there. Im sure you heard a lot about it. Ryan it is difficult for a Software Company to execute on hardware and they are doing it in a very snap kind of way, making it a point, making it playful and fun and introducing a price point that is accessible for a lot of people. Emily brilliant, really . Ryan absolutely. They are creating these vending machines. Since when were vending machines cool . They made them cool by dropping them into different cities. Emily they are making them feel very exclusive, that is for sure. I walked into it feeling very skeptical, but i could see a you would love these if you were ifuge snapchat user, and b you have kids, it takes away that awkward moment when you pull out your phone and your kid automatically stops doing that cute thing they were doing. Do you think this is actually something that is going to add revenue to the bottom line or dry of usage . Rive usage in a d big way . Ryan it is the First Step Towards a hardware snap, camera company. Starting with something simple that takes photos versus google what started with a complex thing in the beginning. More than think it is just a gimmick, something fun around the holidays . Ryan this is more the future of what snap is actually building. Emily that said, gadgets in general are kind of struggling. I mean, google glass did not work out. You have pebble potentially selling to fitbit. You have gopro. They had a number of layoffs. You know, what is it really going to take to make some of these techie gadgets really take off . Ryan not many people can execute on that, especially software and hardware very well, that if they can, it becomes more valuable, if you can own the entire experience and platform and not depend on longerterm apple or google, android or other devices, it becomes even more exciting for the product builder. Emily what wouldve trends are you seeing between hardware and Software Startups . Ryan we are seeing a lot more. Smart everything is coming. It has been part of the conversation for a long time. We are seeing more and more smart things whether it is smart lighting, smart ovens, all of these things connected to the internet that do interesting things, and we are super early in that space. Right, ryan hoover, ceo of product hunt. Thank you for stopping by. Great to have you on the show. All right, a number of the voices chiming to talk about what u. S. Air base and like under president elect trump. We heard from bill mynye. Take a listen. Can hate me. You can hate everything. You can be a miserable heater person, but would keep the game is our in the technology, our innovation. So what im hoping is that we can find is Common Ground in this, invest in basic research. If we had better batteries, we would change the world. Inl if we invested Renewable Energy technologies, we would be having jobs right here in the united dates. States. Emily how to start earning an instagramough your account. Bloomberg tech is moving to a new time. Starting on monday, we will be 5 00 p. M. Eastern, 6 00 a. M. In hong kong. Dont miss that. This is bloomberg. Emily a story we are watching. Airbnb is toughening up home sharing limits in london and amsterdam. Host will need a license to rent for 90 days a year and for 60 days a year from amsterdam. Airbnb will automatically limit home listings on its platform from 2017. Turning now to instagram, it is an app where filters help average people make their lives appear more glamorous or fun withsome every day users millions of followers. Our reporter finds that being in instafamous is hard work. With a small amount of followers, you wanted to up that. How did you set out to become famous . My goal was to determine just how hard this is is it something anyone can do . There are these people called influencers, and they basically take money from marketers to try to sell stuff, and i found an agency that sort of advice to me on photography and grooming and clothing and various other matters, and i just started posting these pictures on instagram in a totally different character. Bots to try to choose my following. It was difficult and, you know, it gave me an appreciation for this stuff and showed me how contrived some of it is. We are seeing you with your cat. I cannot imagine why that was not leading you to more followers. Stylists, thee groomers, they got you more followers on instagram. That hurts, but i take your point. How do these Services Work . You are willing to pay for that to happen and it normally, you have to have a rather high threshold to be able to do that. How does one become, at the entry level, a member of instagrams National Class . Professional class . The professionals that provide services to these influencers normally dont talk to people with less than 100,000 followers. For thee an exception purpose of my article. The interesting thing with instagram is there is no easy way to get a following. There is no retweets or easy way to be broadcast so we have to basically jump around the internet, liking things, in the hopes that some of those people like you back and then, try to have something that is worth looking at, which were these slightly ridiculous pictures took with the help of some, you know, photography and stylist, and great lighting. You know, there is a genre of this and it looks a little bit like a paparazzi shot or Something Like that, but the thing that was most discouraging theset, you know, pictures i had taken before on instagram that i was proud of, they did nothing compared to these slightly cheesy fashion shoots that i did later, which perform much better. I think they look great, max. Im struck that there is some credit here to alicia siegal. Explain how this works. There is a lack of genuineness to instagram, when i post picks a her smiling, not having tantrum. I cannot tell you what that yellow blob on top is. Basically, i was posting these fashion shoots and then also trying to post, you know, pictures i thought looked like what you would expect to be on instagram and my advisor said these are frankly terrible. You need professional help. There is a class of photographers that basically content toifestyle instagram influencers as if it were a magazine. Emily bring it. Our Bloomberg Businessweek reporter with my colleague david on bloomberg markets. You can catch maxs. He and this weeks issue of Bloomberg Businessweek. It is a good one. The folks behind the Fellowship Program have a new venture firm. How they plan to find the next Mark Zuckerberg, next. Emily it is 1 30 p. M. Here in hong kong. Has made itsa first comment on the new u. N. Sanctions imposed after september. The news agency said pyongyang rejects the Security Councils exports. Haidi seoul and tokyo have announced international measures against north korea. Taxes. S to waive beijing will do the same for individual the mistake investors buying chinese shares in hong kong for three years. The taxes will still be levied on Institutional Investors trading on hong kong stocks. Short sellers against the australian formula maker are reaping their reward. Stocks plunging. They said new regulations and there would hurt their resolve. Others List Companies that sell baby Food Products to china. Tof and has moved closer pass a controversial bill to legalize casinos. A local House Community their, it would move on to the upper house. Betting on horses and boa is allowed in japan, butt casinos are currently banned. Global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries, this is bloomberg. Let us take a look at how things are wrapping up on this friday session. Taking a look at the market, here is juliet. A little bit of profit coming through. Opec fueled rally. There is nervousness ahead of the jobs are coming through later tonight our time. We are seeing the Australian Market closing lower by 1 . Juliette it rallied 1. 1 yesterday. Gold is moving significantly higher and as you said, bellamys having that big plunge, closing by 43. 5 . The kospi is weaker. Won againstg the the dollar. Have a look at hong kong. It is down 1. 1 and you are seeing these casino players really leading the declines in hong kong. This is on a cash declaration rule. We have seen shares in china dropped by as much as 5. 5 today, the most in five months, after news that macau may require inbound travelers to disclose cash when they enter into hong kong. Hong kong trading lower so we are seeing a little bit of negativity coming through a plus asian markets. Bee will beive we will liv from londone at the top of the hour. This is bloomberg. Emily this is bloomberg technology, im emily chang. Ater is known for being contrarian to say the least when it comes to everything from politics to his investing philosophy. His fellowship gives 100,000 grant to two dozen collegeage students each year on the condition that they drop out and Start Companies. Two people behind the fellowship have started their own venture fund called the 1517 fund with the aim of taking things a step further. Joining me now is it Danielle Strachman and michael gibson. You guys have been at this for a yearandahalf now and working with peter for a long time. Talk to me about how this fund actually works. I know it is different from the typical fun. As far as a typical venture fund, all venture funds have some sort of goal or mission they are trying to achieve. Ours happens to be focused on younger founders in high school and college and helping to build their companies. Looking for the next Mark Zuckerberg because youre looking for people who are really young. Talk to me, michael, a little bit about the people who are backing you because as i understand it, it is not as really a good return. Interested inare this mission to find people working on things outside of tract institutions. Against education in and of itself. We believe in doing and the types of individuals who are so committed and passionate about what they are working on that they can leave school. They tend to be dynamic peo