It is slower than 6. 3 growth in the previous quarter. Also in the Third Quarter, revenue was up 114 year over year, but the net loss widened more than 175 million. I spoke with c. E. O. Dick costolo and asked him what wall street is getting wrong about twitter . We take the long view about the business and trying to build a lasting enterprise. When we think about our aspirational goal to build the largest daily audience in the world, it is all about, certainly at its core, that audience is composed of our monthly active users that we reported last night. Beyond that, there is also the hundreds of millions of people who come to twitter and do not log in and beyond that, there is the world of the syndicated audience. That audience we reach across the entirety of the web and in our mobile Software Development kit fabric we reach into the mobile application ecosystem. It is the combination of the core, our monthly active users who create a content we use across the entire system. The loggedout audience beyond that core of loggedin users and our syndicated audience. This loggedout audience, how do you measure that audience, how do you measure eyeballs internally, how do you know how much this audience is growing . We know and measure how many people come to our properties and do not login and what they do on the site and we have an understanding of the reasons they come to the site and how they use the site and service. The same thing goes for the syndicated audience. We measure that and understand it and measure how it grows. Can you give numbers on that . We have studied that this is one to two x. The size of our monthly active users. The 284 million users who come in the service and log in. That remains the case. How do monetize these eyeballs . So many of them come to the service through some expression of interest or intent. They have done a search for some hashtag or a particular user that has taken them to twitter so for those folks who represent a large number of the folks who come to twitter and do not log in, we have a very specific intent or interest they have expressed and we believe we can monetize that audience the way we monetize the login audience. Is there a vision for promoting tweets everywhere beyond my feed when i log in . Sure. I think that the acquisition, our mobile ad exchange, the way we think about monetizing the users beyond the loggedin audience is all about the scalability. Lets talk about fabric, your push to developers. You are giving Developers Tools to build out the twitter ecosystem. How will you know in six months that it worked . What are you tracking . If fabric becomes part of foundation of the entire mobile application landscape because it is the best way to help developers build the best apps in the world across platforms, that is how we will know that we are successful. If we are the Solution Developers go to from the moment they start developing their app to the day they launch their app in production to the day they monetize, if we become part of the fabric of the mobile application infrastructure, we will be successful. How does it drive growth . How does it change the business . How involved are developers in helping you bring more users into the twitter ecosystem . Well, i think there are two ways to think about that. One is in the immediate term. In the immediate term, it helps us grow our syndicated audience. With fabric, developers can embed twitter content with one line of code. They do not have to write their own code around our api. They can embed tweets in their apps. It helps us grow our syndicated audience. Over the long term, if we become part of the foundation of the ecosystem, around the world, then well have enormous opportunities. Even when you beat, it seems like it is not good enough for investors. Why not say we will not give guidance like google . We have made a decision to give guidance. That we want to, you know, it is about credibility and helping your investors understand how you think about the business and i do not want to be hopping around on what, we do not like the way you are reacting to what we said we are going to do so we will take our ball and go home. I do not think that is appropriate. We are trying to build credibility over the long term with our investors and help them understand how we are thinking about the longterm viability and success of the company. Lets talk about the medium term. In six to 12 months, where do you want twitter to be . You said you wanted to be moving faster. What are you changing to make that happen . Three priorities. One is to strengthen the core. That group of 284 million monthly users who come to the service and log in. We want to continue the focus on growing that. That is priority number one. Priority number two is reduce the barriers to consumption. And what it means by that is for the users who come to twitter and do not log in, make it easier to create quick, fast consumption experiences for them that do not force them to have to search for them. They get them the moment they get there. They get highvalue, highquality timelines when they come to the site and thirdly it is adding new applications and Services Like fabric, like our investment and Data Platform gnip and beyond. When it comes to the user experience, i know you guys have been working on product tweets. What about Something Like the user name . It can be confusing. It can be difficult to search for people. Im emily chang tv. Im just emily chang. The emily chang. What about doing away with usernames . How big an obstacle are they to adoption . We have a set of existing priorities you want to focus on in the immediate and midterm to address what i have laid out as our priorities, and those when i talk about strengthening the core, it includes things like organizing content for new users. The moment they sign up, they get a great timeline without having to search around for the kinds of things they are interested in. It includes making it easy to move fluidly between the public conversation on twitter and the private direct messaging channel and pull content and conversation from the public channel into the private channel. Can you give us specifics about what demographics where you are seeing products that you like and what demographics where you would like to see more . In the countries where were at scale, in the demographics of the platform mirror the demographics of the country. In the countries, in some of our highgrowth emerging markets where were getting started, you know, the population on twitter might index one way or the other, vis a vis the overall population. In the countries at scale, the demographics of users on the platform mirror the population. You mentioned emerging markets. China is a place youre blocked. I know you recently visited china. How optimistic are you that twitter will be unblocked one day in china . What is your china strategy . We would love to be unblocked in china. Of course our fabric is used by developers around the world. By Application Developers in the u. S. , u. K. And china. There are lots of ways to think about the business that we are building and how we think about the way we work in china the on the bounds of just the product. When it comes to revenue, it is still half of facebook. You could turn the lever. You could show more promoted tweets if you wanted to. Why not show more tweets or promoted tweets or ads sooner . We have been methodical and careful about the way we have grown the business. From the day we started. In april, 2010, when we first launched our advertising platform. We have been methodical and careful about the way we have grown the business and expanded it and we will continue to do that. I do not have any i do not feel any sense of needing to change the way we approach that. You just raised the debt offering. You said you wanted twitter to be opportunistic about how you use it. How much Financial Flexibility does twitter have to make a billion or a multibillion dollar acquisition . Anthony has talked about the cash we have. The debt funding enables us to be very opportunistic about m a. What we said when we raise the money that we did not have a specific opportunity we were thinking about when we raised the funding. It will allow us to be even more opportunistic and that is the way we think about it. Could you make a billiondollar deal if you wanted to . I do not want to speculate about the size of any deal we might pursue. It enables us to be opportunistic and to compete for deals we want to be involved in. You reorganized the Management Team and brought in some new people like anthony. How confident are you that this regime is a lasting regime . I think that Management Teams grow and evolve and change and that is always the case. I love the team we have in place. We have developed all sorts of tremendous leaders across the company. I could go on and on about the folks that are not on the front page of the media every day who haee grown as Leaders Within the company. I like the team we have got. What about when it comes to product . I like the team and the leadership we have got. We have a variety of leaders across product. We have daniel graff and kevin wheel, who is responsible for the very foundations of our revenue product and our platform, fabric. He is the guy that led the product side of the fabric launch and within the Consumer Product organization as i mentioned on the previous conference call. A host of emerging leaders. You said you are doing experimentation with the product. How much experimentation are you doing on a daily basis and how involved are you in that . I am very involved in the way we think about the product and the way we take the product to market and the kinds of things we are trying in the product. I am very involved in that. My interview with twitter c. E. O. Dick costolo. Up next, tmobile c. E. O. John legere joins us. We will be talking about the uncarriers huge subscriber growth and whether it is still an acquisition target. Welcome back to the best of bloomberg west. Im emily chang. Tmobiles uncarrier promotions are keeping the new customers coming. They added 1. 4 million Postpaid Subscribers in the Third Quarter and boosted its fullyear forcast. However they posted a 94 million loss as it doled out subsidies and price cuts to lure customers away from rivals like at t, verizon and sprint. For more on the state of tmobile, i spoke with c. E. O. John legere who just marked two years on the job. Take a listen. It is two years since i have been here. From the day came and i had extremely High Expectations for this company mainly because i saw the brand and i saw the people and i saw the competition, as inept as they are, and i knew there was a great possibility for the business. A couple of items you missed in your introduction. The big word that i was here with the team talking about today, record results. This was 2. 35 million net adds, 1. 8 million branded net adds and 1. 4 postpaid nets. Service revenue is also up 10. 6 yearoveryear and you used the word by aggressive price measures. That is not what were about. As you know, we made this uncarrier movement on a philosophy for changing the Wireless Industry and the brand is resonating with customers. We certainly had a great quarter but i can tell you, it continued right into october, and we maintained as you see by our guidance, keeping our guidance and raising the Postpaid Subscriber number from 4. 3 to 4. 7, which has annihilated the industry and we are all very happy about that. What about the outlook on further uncarrier moves . What more appetite do you have for price cuts . Again, whats wrong with you today, emily . Thats the second time you used the words price cut. Am i dressed in yellow . Do i look like the guy who is in charge of pricecutting . What about the sacrifices and what point do you stop making them . Listen, emily. We maintained our guidance on ebitda. The profitability outlook for this company is better than it has ever been before. As you know, in the Wireless Industry anybody would forego shortterm profitability for customer acquisition. To go from the beginning of the year with two to three million Postpaid Subscribers and now 4. 3 to 4. 7 and maintaining shortterm profitability and a good cash profile, that pays back hugely especially when the churn is at alltime lows for the company. The outlook is fantastic for the company and i could not be more bullish on it. What do you think is the best thing for tmobiles future, not merging with sprint, youre not getting bought out by iliad. What about charlie what do you think about him . You are so predictable. Every time, the same things. Two things. I shortened your other question. What to expect from us is more moves to steer the course for the ones we have. What we want to do emily, and i think we are, we want to change the Wireless Industry for everybody and that is going to pay back. As far it is a future, i have said to you all along, step number one i am certain of, which is sustaining a standalone future for this company as a viable competitor and brand. A set of employees that are the envy of the industry. However, we have a tremendous amount of inorganic options for the company. You mentioned some of the ones that popped up externally, but the best way to think about it is is there a possibility to create greater shareholder value by expanding on the value chain or looking at other ways to use our capability and brand and distribution, possibly with some others . In the short term, all we know is that we can sustain a very profitable shareholder value creating future standalone and there are a number of options including the ones you have talked about that we will continue to look at and see how shareholders think about them. Quickly, we only have about 30 seconds left. What is your appetite for more uncarrier moves . Will we see more of what we have seen over the past two years . I did not say price cut. Absolutely yes. Uncarrier moves. There are so many paying points, you and i are both on twitter. Watch the feed and you will see what customers want and in that feed will be uncarrier 8 and 9 and the sustaining of one through seven. If you think the first seven were big, wait till you see what we have in store after this. My interview with tmobile c. E. O. John legere. The man behind president obamas election victories is now trying to get uber leagalized around the world. Well speak with David Plouffe next about the ridesharing app big victory in washington. Welcome back to the best of bloomberg west. Im emily chang. Uber has run into trouble with regulators in nearly every market it expands to. But will a recent victory in washington put an end to all of this . The d. C. Council passed a bill that legalizes Services Like uber and lyft in the city. But taxi drivers say it doesnt create a level playing field. I spoke about the developments with David Plouffe, Senior Vice President of policy and strategy for uber and president obamass former campaign manager. I started by asking david how his new job is going. Its an exciting and Global Company growing by leaps and bounds. Its a great group of people who are just brilliant. We try to improve cities and make the company grow, so i love it. A lot of regulatory challenges are ahead of you which you are especially skilled at potentially working out. Tell me about what happened in d. C. And why you think this is such a watershed moment. It really is i think the 13th municipality or state in the last few months, think about that. Alifornia, colorado, oklahoma city, nashville so there is momentum. You could call it uber mentum. I like it. I hadnt heard that one yet. Washington was the place where there was a lot of fights through this. We partnered with the local councilwoman so its a creative standard. I think a lot of the debate is how you fit uber and the other Ridesharing Companies into existing Regulatory Frameworks that are 5060 years old . They looked at those new to create a new standard. It is 1 million of insurance, sevenyear state background checks for drivers, inspection requirements. This is a model so i think we will build the momentum we have already seen. Many states and cities around the world are looking for a pathway forward because they see the value that uber is bringing in terms of helping their cities with Transportation Needs and hasslefree transportation and cutting down on d. U. I. There are huge safety elements here. So you will see washington be something a lot of other cities look to. Building on top of the progress people already made. What about new york . Its not the only one but how are you mapping out your strategy in places like new york and around the world. Things are going great in new york. We are close with a taxi and Limousine Commission there to provide a pathway for uber. Lyft is there as well. Its one of our Fastest Growing cities. You look at a city like london, which is a great example. It is a great taxicab tradition. Its a place that generally is thought to have a Good Transportation service. We came in there and have added to that, so people have to realize is this is not either or. It grows jobs and the amount of people using Ridesharing Services and helps with underserved neighborhoods. One out of three of our trips go to a Small Business. In cities where there is a Public Transportation grid, like metro rail, a lot of businesses not on that system suffer. Uber expands the ability for people to travel in different parts of the city. You see a lot of welcoming, and paris is one of our Fastest Growing cities. We are in over 220 cities in 45 countries. We just entered vegas, for instance, and there is a huge pentup demand for people pushing a butt