Transcripts For BLOOMBERG Bloomberg West 20140418 : vimarsan

BLOOMBERG Bloomberg West April 18, 2014

Exploited for two years before was revealed. With a ceo, David Kennedy and George Robinson about the development. I asked first if they can believe the nsa. What this illustrates is that this was a serious issue in internet encryption. Been defined many different ways. Bloomberg is standing behind the about heartbleed. The purpose is to go out and we do not know whether or not they discover that previously are not. That is part of the National Security thing that they say basically that they had no idea that happened even though they could have been exploiting it for years. They have hundreds if not thousands of different exploits to use everyday to infiltrate their friends governments, there is a lot of money to be made in both the commercial and news. Would you say theyre in the business of asked wedding the bugs in the system exploiting the bugs in the system . The nsa buys security vulnerabilities. If they are now going to require the nsa to disclose vulnerabilities that they find, there is a loophole in the statement which ramsey advocates told me this weekend is so big you could drive a truck through. What qualifies as National Security interest . What qualifies as lawenforcement interest, there is no clarity on what they would disclose what they would not disclose. Theyre not in the business of buying bugs and giving them away. That contradicts their mission. Then what do you make of this statement from the white house . Is this ever going to actually happen . Is this trying to appease the masses and put something out there . If you look at happened with a lot of this document that was released, you have a lot of the organizations that specific look for lord specifically look for these flaws, but also go into different Government Agencies and do surveillance. I think this is to appease the masses. They are not going to disclose their techniques and what they are actually going up there. It is going to take Something Like a snowden released for us to see what is going on behind the. I came from that realm. For me it was a different ballgame back in the early 2000. We did not have this huge cyber movement. There are were very little laws or regulation abroad what it can actually do what they could not do. After this has been made public, i do not did as much. Do not think it is as much. The number of Social Security numbers were stolen to be a story out today about how business are having trouble getting rid of this thing even though there are patches out there. Are we going to hear more stories like this . The bug was quite slim or give you push the button, do a few other things, minor technical adjustments, and within a couple of hours you could take your system. Most companies did this early last week and what is less known is that there were Ripple Effect from that. If your internet hosting provider does not patch the system, or there are problems with them, we talked to a company that does the youth sports fan sites. They patched their site, they didnt either way, and their internet hosting provider also did but there were glitches and problems. Photos were the big dislike kobe cannot upload photos communicative view photos, and you cannot do anything. It took the entire 43 company all week. What is your view on how serious heartbleed it is . Is this getting overhyped at all . I do not think so. I think it is a lot larger than what people think. Facebook was impacted, and people were able to start extract passwords that encrypted data. There are a lot more along behindthescenes that vendors have to do. Your passwords could happen copper might give your information could have been stolen, so there are a lot more ramifications to than the just fixing the website. It is one of the largest exposures we have ever seen past in the past 10 years. It will be a long time before all of the issues are fixed because it does require a lot more than just running a patch. There will be a lot of issues in common, and the major problem is detection. Prior to it being released there was no way of the deck the weather was be exploited prior to the patch data. We a lot of companies will no idea if they were asked hacked. Excel partners is known for taking early bets on Companies Like facebook, dropbox, spotify kebab next we will speak with their investments in mobile. Welcome back to the best of bloomberg west, i am emily chang. Google made google glass for sale to the general public this week, but for one day only. It cost 1800 for axis to the program 1500 for axis to the program. We sat down to talk about who will could go mainstream. Who will is still in beta at this point of and we talk about a 1500 price point it is still very much intended toward developers to experiment on applications. The reality is if you try the product, and he read the reviews its probably going to be a while before becomes a massmarket hit. It is perhaps interesting to those of us who live here in the valley, we welcome new technology, but it will be a while before mainstream advice this in a broadscale way. I was told zero chance of having it going mainstream . It is too early to predict that. I would not make that prediction myself. When we saw the google by android in 2005, we saw them winning the put the operating system and everything of and without they were not spread into that google has executed incredibly well, so i would not count him out at this point. Greg said terms of wearables in general, as a mobile investor, how closely are you looking at wearables . We are not investors in nike, but we are believers in that trend. My fitness foul aggregates a lot of the fitness and nutrition data, and we think that is a real trend. The fitness aspect of wearables is extremely real, and is accelerating even if the glass aspects are probably still in beta. What about the idea that people just do not want a measured life . To measure their life completely . I have not been compared to wire them everyday wear them everyday. Theres a very serious user, and you can get motivation from them, the idea that youre able to beat with your friends across the country in a part of the world is a very metaphor the behavior is a very motivating behavior. The trend in wearables are on the fitness basis of very genuine trend. What is the hottest thing out there . In the context of i think the last five years is that about ubiquity, and the next five or about richness. Android was purchased by google in 2005, iphone in 2007, and now were about one billion smartphones and 250 million tablets. Getting to mass ubiquity has happened. Mass consumer adoption today. The fact that we have the smartphones, but apps are still down more not fully integrated to the information on those phones, the idea these applications become smart and predict the and thats a major area what is new. Youre talking to the founder of the app secret. They are very construed show that controversial they are very controversial. We are not investors in secret or was brave and though we think theyre fascinating services. I would we doubt that the idea of anonymity on the internet is not a new idea. Going back to blackboard and chat rooms, the set of behaviors that people are concerned about, plus sharing ideas anonymously has been around for a great amount of time. On a mobile device and being able to share that way is not better or worse than previous iterations. You need to put the right amount of moderation and monitoring in place. They will do that as a part of making those communities robust. What about snapchat . I think snapchat is a little bit different. Snapchat is a thumb rule service as opposed to anonymous. It is a daytoday communication tool. What about Big Tech Companies in mobile . We saw google buying a drum company have a facebook is been in that area as well. When you think of all of that going on, given that drones are not bringing broadband to remote parts of these the world yet . Theres a lot of option now the about where they are going. Sometime the original idea becomes clearly fulfilled where google made that android purchase a huge success, but sometimes it is all about the taliban continued. Im hearing the same reports that your cover that theres a view that drones could be applied for mapping technology, photographs for navigation or could be applied for Broadband Internet service. It is pretty early for both technologies. There has been so much activity in the tech space, facebook buying whats that for 19 billion, oculus for 2 billion, made rounds of funding being raised. 11 digit rounds happening. Multiple rounds like that so far just this year. What is going on right now . Are things getting too hot . There are a number of major revolutions going on in technology. We talked about this desktop to mobile shift many times before. There is this rise of big data, and the move from the social internet. If youre incumbent technology company, and youre not writing one of these key trends you can get pretty scary. You can get left behind if youre not one of the key players in one of these three major shifts. On the flipside of if youre one of the startup or growing companies that is the personification of one of those chefs shifts, you represent the personification of that trend and you can be strategically valuable to a lot of people. Intel did a large investment just a few months ago as an example of that. Ive been asking pretty much everyone on the show do you think we are in a bubble . I spoke with trite, and i want you to listen to what he had to say. Grace to be in has been a steady sequence of large round, that majority bubble territory. Very few people are saying we are in bubble territory. You are the first person. No one wants to save the because no one wants to break it, because Everyone Wants to cash out before we see it over. Are we in bubble territory . We are not dramatically not, the majority of companies being fun is had real cash flows which is quite different from the 2001 time. The multiples are getting up there, the multiples in revenue and cash flow are getting higher. I think the 10 pullback that weve seen in the nasdaq this far is likely to have some impact on the late stage round of editing is likely we will see some moderation because of that. Broadly defined as a bundle ball chasing company that has no Business Model are things or proposition that is not accurate. Do you think the growth we are seeing a sustainable . The funding round, is that not sustainable . And the valuations of the companies are sustainable, but it do not know if they will continue to accelerate at the same pace they have. In many cases investors are looking ahead at next years revenues and pricing some of their investments off of that. That growth rate has to be there in order to support those valuations. I do not think it will double again or triple again in some of these cases in the following 12 to 18 months. My interview with excel partners which one rich wong. He is one of hollywoods biggest producers, we speak with jerry brock, or about his plans to remake one of his classics. Welcome back, i emily chang. Hollywood heavyweight Jerry Bruckheimer is betting big on sequels. The producer recently teamed up with Paramount Pictures to bring out a new installation of his top gun and Beverly Hills franchises. In the book there is a conversation around design with Companies Like apple, we know where they are going with design. What about design for you in your films, and television, what the rocawear design what does Jerry Bruckheimer design . We always try to put something a little different and unusual and special in. You have this new first look deal with paramount. You have talked about words as he is focused on its movies and where your focus on your movies, disney doing a lot of superhero movies. Theyre not the only studio doing that right now. Is there superhero fatigue at some point . I just saw the latest captain america and thought it was great. The whole place was full of everyone was cheering and laughing, and it was a great experience. That is what the movies are all about. The first film that you highlighted as a part of this new deal with paramount is that youre working on another Beverly Hills cop. What can you tell us about it and where things are at right now . We are in the process of getting the script finished. Paramount is excited, and eddie is excited. Im going to take him back to detroit, he is really excited about doing this. And the other film that everyone has been talking about is the next top gun which you have been working on it, but this is a long process for you and for tom cruise. You have been setting the stage of cruise versus the drones. Technology has changed since we made the first one, so were going to take advantage of what the world is like today. The drones really taking over in a lot of our wars. Is the pilot obsolete . Are those jet jockeys gone . I do not think so. You stop to make quick decisions, and the pilots are the ones to do that. Hopefully we can highlight both worlds. What is the timing on that one . We have been working on it for over 30 years, so i wish i could tell you how long it will take us to get there. It is a lot of fun working with tom, and unfortunately tony scott has to wake of and that is very sad for us. I think David Ellison is a financing partner. A lot of able talk about that family, megan is getting a lot of attention during award season recently. What can you tell us about david . He is a pilot. That helps us a lot. He has great taste. The movies that he is and it has been very Successful Company continues to make successful movies. He understands the business better than anybody. For a guy so young to understand the deals and what actors work and what directors work and what writers were, he has done his homework. Im very proud of what he brings to the project. Despite the fact that you have the new deal with paramount can be used off ties to disney and there are projects that youre involved with through disney. Pirates of the caribbean, the latest installment as ones that people continue to ask questions about. We are working on number five, hopefully we will get that going this fall or maybe even within the next year. Is there a sixth . We make them one at a time. We will keep johnny back, will Keith Richards be back . Would love to have him back. You have had huge success in film and in television w you go through it is a long list. Csi is on that list. A lot of people are talking about this as the golden age of television. Financially for you, what does that mean . Is there literally a pile of gold . Has this been the most initially successful time for you since all of these storylines have been in tv right now . What is been great for me and all of the shows we are putting on the air and even though theres they may not be on network, but maybe on netflix, the writing is so good. If you look at what the other channels and networks are putting out, some of the series they have their Amazing Stories that are told great actors. Grace is that mean that working with partnering with netflix on original shows or movies is something you would think about . Absolutely. We have not had the click yet, but hopefully we will. How long can csi stay on the air . It seems like a long time still. Within is going on its 15th season. It is not that the writing was great and the acting was great, it is the raiders and rectors that digby words and, life take the words and make them come to life. It is all about entertaining audiences. That is what we do. On that point about the csi spinoff, you seem quite interested these days and how technology is influencing cigna that society and bring that to be smaller bring screen. Absolutely. There are so many things that have changed. You can imagine what has changed in 15 years. Things change. Jon erlichman with Jerry Bruckheimer. And has been one year since the Boston Marathon bombings. We going to look at how the city of boston is using technology to boost its security. You are watching the best of bloomberg west where we focus on technology and the future of business. A year after the Boston Marathon bombings we are looking at the technology that is helping to prevent crimes like this from happening in the future. This includes Artificial Intelligence, hightech cameras and crowd source information. They analyzed social media postings to find the bombing suspects earing the investigation. They help the police to do this. They can pull realtime and pass data from twitter and facebook feeds, internet forms, mobile chat rooms and more. I spoke to the ceo about his opens involvement in last years investigation how their helping lawenforcement agencies across the country today. Our involvement actually predates the tragic events of last year up by about two years. The commissioner reached out to me after the 2011 london riots with the thesis that the Boston Police department should start actively monitoring social networks as a way of fighting crime. What happened in london is that different organizations and gains actually managed to move throughout the city of london using social networks to communicate between each other. Being quite pricey and at the use of technology of crimefighting we started a pro bono relationship where we offered our application for free to the Boston Police department so they could monitor in front social networks. We are actually on the scene when things in boston actually occurred last year. After the bombing there were days that went by where it seemed like we had no idea who did this. There was a critical moment where they released some Surveillance Video of the suspects. How critical do you think social media was in solving the costing bombings in finding who did this . We as an application provider that provided our services for free we were not a part of the investigating team because we legally could not be so because we are not lawenforcement officials. I cannot speak to what happened on the classified side of things. There was clearly efforts to look for patterns in past data and an ongoing new social media that was being shared as the general populatio

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