Going back to what . 1970 . I think it is. China is a net importer. They will benefit mightily from this decline and they are concerned about securing sources of energy. Crude hit its lowest price in five years. Walgreens on the hunt for a new ceo after current president greg watson does he will retire greg wasson says he will retire. Walgreens says it is not using the deal to move its tax address overseas. A new report says disney, pepsi, fedex and microsoft skype is among hundreds of companies that have benefited from secret tax deals with luxembourg. More than 340 companies have transferred profits to luxembourg using complicated tax arrangements. The clock is on for lending clubs ipo. Well above the initial range of 10 to 12. The Company Begins trading tomorrow morning. Now to our lead. The fbi is bracing sony employees briefing sony employees on awareness as more information leaks out after the massive attack. Scenes depicting the death of kim jongun in the movie were personally approved by the ceo of sony himself. Other emails are giving us a glimpse of the politics, the debacle that is the steve jobs movie that sony just sold to universal. Cochairman amy pascal, you have destroyed your relationships with half the town with how you behaved on this movie. If you dont think its true, wait and see. And the possibility that she might steal director David Fincher for a movie about cleopatra. Im not remotely interested in presiding over a 180 million ego bath that we know will be a career defined debacle for both of us. Im not destroying my career over a minimally talented spoiled brat that thought nothing of this offer for 18 months so she could go direct a movie. How bad could this get . Joining us our veteran studio executive and film producer. This appears to show just how ugly personal and political things can get in hollywood. Are these emails representative of how business is done there . The main thing i would say is the fact that scott rudin, a wellknown and successful successful producer has strong opinions and uses colorful language and hyperbole its about as revelatory or news worry newsworthy that it is raining and cold here in new york. Though fact that the fact that people react and interact this way is wellknown. Im not sure if youre familiar with deadline who was run by a notorious gossip columnist, this is the kind of fodder that would be in her column all the time. Will it ultimately have any major impact on the world at large . Probably not. Will it provide inside information about specifics of deals that could be used as leverage in future deals . Maybe. In terms of the public, i dont know what the big revelation is here other than hollywood is a very complicated place populated by opinionated and colorful characters. I think im glad i dont work in hollywood. I did speak with aaron sorkin and he talked about how excited he is about this film and its one of the best things hes ever written. Take a listen to what he told me. This is the first time i felt at the end of the script like i wrote exactly what i wanted to write. Its managed to get from my head to the piece of paper intact. Theres been a lot of issues surrounding the lead character Leonardo Dicaprio dropping out. Christian bale dropped out. We dont know whos going to play steve jobs. David fincher was replaced by danny boyle. Is this movie ever going to get made . Like all big movies, sometimes they have a long way to get to the screen. I think this is the kind of movie they want to make and [inaudible] the movie with tom hanks, it took 12 years to get made. I think it is about finding that right combination. Go ahead, joe. A movie like this that is not a big popcorn movie based on a comic book or a theme park ride is having a tough time being made in todays hollywood. Its about worldwide preexisting movie ideas that can make billions of dollars like batman, pirates of the caribbean, transformers. Aaron sorkin is a talented writer and im sure hes done a fantastic job. Someone will figure out how to get this movie made. Ive worked with studio executives and as a user. There is always the competing issues of is it creatively interesting . I am sure aaron has done a fantastic job. Who is the audience for this movie and is it a big enough audience that justifies the expense it will take to make the movie . Those are all kinds of factors. Sony, when financing is tight, is having second thoughts does not reflect negatively or badly. They are trying to make the best decision that works for them financially and creatively. They also made a movie called social network and moneyball. Those were challenging movies in todays marketplace. I would not fall sony for having a stutter step or on the jobs movie. What about the interview . The sony ceo very involved in the death scene of kim jongun in this comedy directed by seth rogen. Another email to seth rogen himself. As embarrassing as this is, appreciate the fact that we have not dictated to you what it had to be given that i have never gotten one note on anything from our Parent Company in the entire 25 years i have worked here. They said we will make it less gory. The head explosion cant be more obscure because we honestly feel if it is any more of skier yuan be able to tell its exploding and the joke wont work. Do you think this will help . This is the movie, the very reason potentially that all of this information is out there. Somebody out there is very upset about this film. How unusual is it for the Parent Company to get involved in the specifics of a scene . Most times, the Company Hires people they are confident in and they want the Senior Executives to make the decision for the creative options of the film. This is a highly sensitive and highly politicized movie even though its a comedy. We are dealing with a country known to have political issues around the world. I think it is a unique situation. And it has bigger impact than just movie jokes. I can see that it could happen and i dont think this is something they have a lot of confidence in the executives they put in the place. The government has denied responsibility but praised it. The people behind this attack, joe, once the movie not to be released. Is there any chance sony will pull the film . I cant answer that but i want to make an important distinction here. There is an important distinction about who was behind this leak. If it was perpetrated by north korea, its a corrupt and morally bankrupt regime and its not surprising. What more troubling is if the leak is by an american citizen who, for some reason is trying to get at this movie or sony, it goes against the very fundamental basis of our country which is everybodys right to privacy. Whether somebody is making 20 or 20 million. I spent years trying to crack secrets. I exposed government and public issues and public money for the public at large. I would go anywhere to get the information i needed. No one has said to me that sony is alluding the environment, has huge racial discrimination, or is corruptly doing something. The fact that sony has a lot of white males at the top is no secret. Its not right. Its a problem that america and hollywood in general has. The same kind of emails that these folks wrote, would you want them coming out about you . I was a writer for the Washington Post and i love journalism. I dont think theres that much difference between hollywood or any other highly competitive are highly charged industry. If you went to Merrill Lynch and you saw their internal emails, you would see some of the same kind of hysterics going on here. I dont want to sound too much like i am defending hollywood but i feel like i need to do that. It makes you think twice about what you put in print. Just in case it comes back to haunt you. Longtime studio, veteran, and catherine arnold. We will be watching to see what comes out tomorrow. One member of the paypal mafia is going back to his startup roots. We will talk to david sachsen on his new gig. You can watch on bloomberg. Com or apple tv or amazon fire tv. Im emily chang in this is bloomberg west. Human resources startup is one of the Fastest Growing in Silicon Valley today. They have just hired a new coo with a long track record. David sacks, former ceo of paypal and yammer, which he sold to microsoft. Joining me now is david sacks himself. We have talked for a long time. You could have retired and started your own thing. Could have been ceo at a lot of faces. Places. Fits . He coo of zene this is one of the most exciting companies i have seen in the last 15 or so years. I first got introduced to parker he was raving about this company and telling me i had to check it out. Parker got me more and more excited about what hes doing. His vision for the company, his ambition around it, its unlike any other company ive seen. I know you have been thinking about what your next move would be and here you are going back to your operator startup roots. Why . I guess im in addict and hypergrowth is a drug. The times in my career that were the most fun were the times when i was dealing with extremely fastgrowing Companies Like paypal and yammer. The other thing i was thinking about doing was going off and i just decided that i liked these companies better. It was more fun. What zenefits has done in one year it took yammer three years to do. Its a really extraordinary and unique company. The highlight of my day was a picture of david sacks being compared to lebron james. Im not disputing that fact. But really . Why the comparison . David, there are just so few people out there that have seen what its like to scale a company that is growing as quickly as weve been growing. Who have started and run businesses. David was the first guy out there that kind of saw Enterprise Software could be approached with this sort of Consumer Software level. This is sort of like a really unique hire of someone uniquely talented. We need great people like that in the company to take on the challenges that we are taking on. One of your investors compared you guys to jayz and jt. No pressure, david. I have no athletic ability whatsoever. [laughter] i also have no musical abilities. But what are you going to do here . Was number one on your list . Whatever they want me to do, basically. They have more than enough to keep both of us busy. I see david is a real partner in the business and someone that will be able to go wherever the fires are hottest in the company. Initially, he will be taking on our operations organization, product, and finance. Is david here to take this company for you . Company public for you . We havent even thought about it. Yes, you have. Nothing seriously. People say zenefits is a rocket ship. I was looking at the competition and there is not a direct comparison. There are smaller competitors, but where do you see your niche in this market . We connect them all up and we give the employees a single place to do everything. They will focus on people instead of paperwork. That sort of integrated approaches what is unique about us. There are lots of people with point solutions, about 1000 a ploy ease employees in the u. S. They sounded the alarms about startups saying valuations are too high, companies are operating at rates that are too high. They can vaporize or disappear. You guys just raised money out of a 500 million valuation. How concerned are you not becoming one of those companies . I think it really depends on the company. The company has real revenue. I have never seen anything like it. Like parker mentioned, you have characterized it as sort of this spoke model. We are selling a product that every Small Business needs for free because the spokes are basically playing us paying us. People thought you would end up at paypal. Why didnt that happen . Ive been there and done that. Im super excited to be part of zenefits. Whos jayz and whos jt . I dont know. Probably neither of us. Excited to see parker and david and action. Parker conrad, thank you for joining us. When we come back, changes in the air for the tv business. One late night host calls it a career. Amazon is now allowing users to stream shows in 4k ultra hd. This is bloomberg west. Im emily chang. Mark your calendars for may 20 of next year when David Letterman will host his final broadcast of the late show. Letterman is retiring after more than 32 years on latenight television. The last 22 of them on cbs. Hes being replaced by stephen colbert, the current host of the colbert report on comedy central. You may now have the option to watch movies in 4k ultra hd. Amazon prime subscribers can watch at no additional charge. People who are not try mentors prime members can purchase select sony movies. And coming up, a glimpse at the early days of apple with and what it was like walking away from a tech giant. You are watching bloomberg west where we focus on innovation, technology, and the future of business. Im emily chang. There is a third player responsible for getting apple off the ground. He is ron wayne and he is not a billionaire because he sold his 10 stake for 800 12 days after the company started. Started up. He is offering memorabilia up to 50,000 at a christies auction today. Ron joins me now from new york with more. You and i have talked before. The story is long and legend. Lets start with the option. You held on to some of these things since the 70s. Why sell now . What is up for sale . A set of documents that is in two parts. One part proves the original apple one manual consisted of drawings and pages i made up, the graphics i made for the manual. The second part that you are picturing here is actually documentation for the first apple ii that was the first Production Unit produced by apple. And the documentation was something that steve jobs asked me to put together. He wanted me to design an enclosure for the apple ii. This includes concepts, sketches, and some of the detail drawings and assembly drawings. They were used for the apple ii which was the first Production Unit of the apple. Remind us, what was it like working with steve jobs in Steve Wozniak . Why did you sell your stake . To begin with, it was a fun time. Particularly somebody like was the act who was wozniak who was a whimsical character. I was in my 40s, those kids were in their 20s. I worked with steve jobs for two years at atari and weve become rather chummy. He wanted me to help him with the setup of the original apple environment. Which i did. There were several reasons why separated myself from the company. Not the least of which was to begin with, i was a product engineer in my own right but i knew i was standing in the shadow of giants. In addition, steve jobs had seen me set up a documentation system at atari and was very impressed with it. Im sure he wanted me to run the Documentation Department for the new apple enterprise. I would spend years in a large back room shuffling papers. You have admitted you are not a wealthy man. It you are at peace with a decision that you made. How many times over the last 30 plus years have you thought, what would my life be like if i didnt sell that stake . To be candid, there were many reasons i separated myself, i never regretted it, and to be quite candid with you, very simply, i was in my 40s and those kids were in their 20s. They were whirlwinds. It was like having a tiger by the tail. I probably would have wound up the richest man in the cemetery. It was that high speed and enterprise i was not prepared to be part of. Its true ive never been a monumental success in my lifetime. Ive never been rich but ive never been hungry and im certainly not going to waste my time worrying about yesterdays. Im selling off my documentation now to ease my retirement years. And thats basically what it comes down to. How much do you follow apple today . Have you played around with the iphone 6 or the six plus . I have to admit ive had almost no apple products in my lifetime. Im not heavily involved in social media or in modern communications technology. What kind of phone do you use today . Leave it or not, a tracfone. What is that . Its almost a throw away. Its a telephone that uses Telephone Technology, walk around Telephone Technology and thats it. It is not a smartphone . No, it is not. Have you ever been tempted to use more advanced products . Smarter products . Does the smart watch attract you in any way . Not really. I am 80 years old, i am virtually retired and i almost never get out of the house. Theres no reason for me to have that kind of technology. I have my internet and regular communications and that satisfies all of my needs. Once you auction these products off, what will you buy . Gold as security for the future. My savings has been in gold for the last 40 years. Ron wayne, always great to have you on the show. We will watch how these apple products due at auction. Thank you for joining us and sharing your story. Ron wayne the third and most unknown of apple cofounders. Start up prices are looking across the base for cheaper cheaper rent. How long until oakland prices start soaring . You can watch us on bloomberg. Com, apple tv, and amazon fire tv. Im emily chang and this is bloomberg west. The bay area city with the Fastest Growing rent in the United States is not San Francisco. In fact, it is oakland according to a new mpf Research Study that says oakland rent has jumped 9 in the last year, outpacing San Franciscos 7. 4 . It is attracting residents priced out of San Franciscos crowded Real Estate Market thanks to the tech boom. Is it looking for the same fate as San Francisco . I am joined by oakland mayor elect that takes office in january. First of all, lets point out it is still a lot cheaper to live in oakland then it is in San Francisco. But rent is going up quickly. How do you plan to attract business but balance these rising property prices . Oakland cannot sell it sold for growth and it does not need to because oakland has space to welcome new residents. It is great people are discovering oaklands awesomeness, our secret sauce, what makes it a great place to work and live. Mayor ed lee in