Be a small part of the discussion at todays summit ukraine ceasefire and terrorism will dominate the thoughts. Yesterday, finance ministers were unable to reach an agreement on extending the aid package to greece to expire at the end of the month. Cisco shares enjoy a big rally, hitting it ties double in seven years. Revenues were up 7 and John Chambers is company is growing again. We in an industry that will change the way the world work. The network is at the center of all technology. Now every country, every city every company in the world will become a digital. That will allow for faster innovation and will allow horses go to become the number one i. T. Company. Sales in china were down 19 . Ecommerce site jet. Com has raise another 100 million from investors. They have now raised 220 million ahead of its test launch next month. The company is founded by the diapers. Com founder and it is a members only market is, in costco online. Dealmaking takes in the Online Travel industry weeks after reaching a deal to buy travelocity, expedia is at it again, purchasing orbits or 1. 6 billion including it. The purchase will add orbits and cheap tickets to its portfolio as it gears up to take on priceline and competitors. So what does all of this consolidation . With me now is someone from rbc capital and sam shank ceo of hoteltonight. Talk to me about Online Travel. Since you are the senior guy here. What does this mean or lose Public Companies for these Public Companies . We have seen tremendous consolidation over the past few years. Has become a duopoly. Two the cap. Expedia and priceline. They have a lot of the vertical planes. They may look to buy more like hotel tonight, but this base is consolidating and they do it in a way that is usually pretty smart. Setting up accretive deals, a multiyear trend, probably will see more of it. Euro about no antitrust issues. This is what was called a life is. You dont make any money selling airline tickets. All the economics are in the hotel market. The smart thing would be to start a Hotel Business wait that is what you did with hoteltonight. What is the trap you see orbitz having to deal with . The shift to mobile is the big trend. The starting point for Online Travel, the largest is google. That is where people go to start their travel. In a mobile world, people are going directly to apps. That means brands are important. That place will to Something Like expedia is gathering all of the starting. In case of expedia, why wouldnt the app why wouldnt that be the most successful thing they could be doing . They are investing in that but there are other places that people are going to. Other flavors of apps that resonate better with people. We are the leaders in Online Travel. We have carved out a nice market is for ourselves and we are growing fast. From a design standpoint, you offer a different type of service. Expedia is like a smaller version of the website where you have to pick dates and scroll through stuff. These design an important part of that . These design a business impediment or expedia . I think their legacy business is an impediment for the we started with a clean slate. The front and back and were invented specifically for mobile use. It is very fast to book a room the only show you great tells because of the way the hotels compete on hoteltonight our rates are about 10 lower than anywhere else in the world. That really did sound like a commercial. When you look at expedia and mobile, do you see this as a problem . There have been two seismic shifts in the internet space the rise in mobile particularly. This requires expedia and priceline to pivot well. They can certainly put the effort in to make sure all of their apps work seamlessly on mobile devices. There are opportunities especially when you have these big ships. Whenever i talk to anyone in the travel industry, they talk about google, some antitrust issues with the way that they show search results. How big of a threat is this to expedia . Chances are, they will always be the biggest player in travel because it will be a required marketing challenge. You may have figured out a way to get around them, but you want to succeed in Online Travel and commerce, you have to pay the piper. They will stay at the top of the final, along with trip advisor. I doubt that they will get deep into the bookings are. They have tried for years and have that much traction. They are fine, their Business Model works just fine for travel. When users search on their phones, are they getting the best options for travel, the cheapest tickets, the most direct connections to hotels . It is imperative for google to present that, otherwise, people will search on a meta search company. The big thing for us is that the starting point is not necessarily google. Once you have the hoteltonight app and you come back several times over the year, we see people looking sometimes, sometimes researching rates, but we are not requiring that of the customer over and over again which is what happens in search and optimization. Very interesting stuff. Sam shank mark, good to see you both. Questions about twitter and Ceo Dick Costolo. He gave an interesting interview yesterday. Our exclusive interview with dick costolo. Here is a check on your world news headlines. Citigroup is raising prices on currency trades. For some clients, it could be a 25 hike in fees. Citigroup is looking to boost revenue after suffering more than 150 million on losses from the search of the swiss franc. Train manufacturer bombard ea is replacing its ceo. The new ceo is Elaine Belmar of united technologies. They have faced delays and cost overruns in developing its new cseries jet. Its been postponed four times and is expected to cost 5 billion, up from 1 billion a few years ago. Chinese smart tv maker lay she will invest billions to sell electric cars in the u. S. The executives tells us they can be successful because it will capitalize on the design manufacturing, and distribution strength. Twitter does not want to become an electric car company but are talking about an ecosystem of products and they want to make more money off of each including vine. To reach the goal, twitter has agreed to buy niche. Brad stone sat down with an interview with Ceo Dick Costolo to ask him about that acquisition. It is absolutely the very beginning providing monetization opportunities to the viners who have done such great work at building this unique community of content creators and connecting them to brands we think will be awesome for the brands who want to leverage the great work these viners due to create stories and for the viners who are able to build a career of the fun things they can do on the arm. Do you find yourself competing with snapchat for this new generation of video creators . I think of it more as this unique platform we have developed in vine. There are the stop Motion Animation experts, comedians, vine magicians, frame by frame animation work. Being able to leverage their talents to help companies tell their stories across the twitter ecosystem, we think is cool. By bringing niche on board, we think we can do that across the broader twitter ecosystem, within twitter itself. There is so much energy right now around the vine and snapchat ecosystem. It makes me wonder whether you to the squandered their opportunity in mobile video. There will be lots of players in this native video mobile space. I say that a lot and what i mean by native video mobile is radio primarily produce for consumption on mobile. We led the way with vine. We think there is an enormous amount of opportunity there. Buying niche was part of realizing that opportunity. A couple weeks ago, my twitter app allowed updated itself to allow for native video. As that rolls out to users, what kind of consumption have you seen . Great usage. One of the things we have been fascinated about in the first couple of weeks is how much people are using native mobile video to reply to tweets. Someone will text and mention another user on twitter and that user will reply with a short video. We have seen that from individual Users Companies medium has been doing a q a using native mobile video. We just did a q a today with comedian amy schumer who is in this movie coming out this summer. She did all of her responses via video. It would not have been the first use case we anticipated, but it is need to see that. Let me ask you about user growth. Recently in your Quarterly Earnings report, user growth was down when you expressed confidence that it would come back up to previous levels. Why are you so sure . That was in the first week of february. We had the benefit of seeing what happened in january. That outlook was based on seeing a return to organic Growth Growth initiatives that we have had inside the company that are delivering results and then some seasonality where q1 is higher than q4 traditionally. You have introduced the cadence of launches. One of them is instant time to talk about the importance of that. I have been talking about it since we were on the ipo roadshow, bridging the gap between awareness of twitter and really engaged on twitter. Part of that gap is new users coming to the five warm they saw it on tv they sign up for the platform and they cannot find the right accounts to follow, they dont understand how to use it. Instant timeline delivers immediate value to the users the moment they sign up. We can get them a great timeline of 20, 40, 90 accounts to look at immediately and show them how to use the platform, not try to teach them. That was twitter Ceo Dick Costolo. Later on we will have Sony Pictures former cochair amy pascal, talking for the First Time Since the studios massive hacking scandal. She talks about what it was like the days after that massive attack. Im cory johnson. Twitter ceo Anthony Notos account was hacked this week, the second time he has had issues with his companys product. A few months ago, he sent a private message to his public followers. So how big of a problem is the direct messages if the ceo cannot even figure it out . Brad stone asked that question to dick costolo. It is being able to take a public conversation private. We believe when you see these public conversations and you participate in them, there is a tremendous use case for taking the conversation to a private channel whether it is between you and a company how many times do you see people say i missed my flight at delta, Virgin America united, please help me, and they respond. Being able to take that context of any public conversation between two accounts to a private channel between one or more of those accounts, we think is a huge opportunity both for businesses and users on twitter and also there are times when you see a public conversation on twitter and you want to have a sidebar conversation with your friends about this thing happening. This is about enabling that and enhancing it to make twitter increasingly a daily use case. The product behind these features, you have some instability. Some managers coming and going. Has that situation stabilized . The short answer is yes. I love theme we have in place and i have also been particularly enthused by the way that my reports are building on their bench and strengthening it in bringing others into the company. We had a couple more additions to our engineering leadership. That is something im excited about. Organizations will always change over time but i like the team we have now. Do you feel like you make previous mistakes in made mistakes in previous incarnations of the team . I always tell people it is up to you to improve your team. Your job is not to defend your team but to improve your team. That is something i focused on and pay careful attention to. I love the way the team is set up now. I was struck about the internal statement that you mentioned about bullying. What would you like to see the organization do . I think that was the first time i said we suck at this, used cross language like that in a companywide email, and of course that is the one that is linked leaked. The point of writing that no to the company was to let them know i take responsibility for that. We are not going to go ahead with the status quo anymore. We will get more aggressive. It is on me to make sure that we do that and we will be aggressive and fast about making changes. That was about me putting the weight on my shoulders and letting the rest of the company no we are going to get more aggressive. Ecommerce on twitter. I feel like amazon has been trying to sell me the same portable usb charger since the feature was introduced. How big can this feature be . We are still experimenting. The opportunity for twitter is to really be the place for in the moment commerce. Now commerce. In the context of seeing some public conversation i want that. As distinct from other kinds of commerce here is just a catalog of stuff. We have a number of experience we are running. We are learning a ton from running those experiments, we do not have anything new to announce. You will see us continue to explore with what now commerce means. Facebook has 1. 2 billion users. A 200 million market cap. Is your vision for twitter still on par, is a facebook scale . Our vision is to have the largest possible daily audience in the world. We believe twitter is of value and can be of value to every connected person on the planet. That is the strategy we are delivering against. We think that strategy is comprised of stringent moving the core of logged in users, but also organizing content experiences for the more than half billion users a month that country twitter and do not log in and syndicating those experiences across the entirety of the web and mobile lab it landscape. Your cfo anthony noto, some goodnatured ribbing. His account was hacked recently. What is going on . Does he need a tutorial on two factor authentication . He received a compelling office offer from a nigerian prince. Hard to resist, i will leave it at that. Coming up departing pictures of cochair amy pascal from sony. She speaks about her in her first public appearance after her studios hack attack. You are watching bloomberg west were we focus on innovation, technology, and the future of his is. Amy any as gill out for the First Time Since the cyber attack on sony. Speaking last night in San Francisco at the women in the world conference, she opened up about the very early moments when she first learned about how big this attack was. Youve been through something so extraordinary in the last few months that none of us can hardly imagine what it must be like. You cannot. I promise. Tell me about the moment when you first realized that this slowmoving car crash has happened, the North Koreans have hacked sony and they are sabotaging whole system and people are finding skull and cross bones on their computers and its all shutting down and you think of living is going haywire and then there was this awful personal moment when you realize they were about to dump all of your personal emails on to the internet. Tell me what you went through. First of all, iran this company and i had to worry about everybody who was really scared for stop people were really scared all of their Social Security was out there, people worried about their passports, about all kinds of things. But nagging in the back of my mind, and i kept calling, they dont have our emails, right question mark tell me they dont have our emails. Then they did. That was a bad moment. You know what you write in emails many of the emails i wrote between my friends we had been having an ongoing fight since the moment we met. There is no way you can never explain the way you talk with someone where you just kind a go into metaconversations and sarcasm and roleplaying. Anytime i even thought i would try to explain it to anybody, it would just dig a worse hole. What could you do . Years the thing as a woman, i figured what i did was control how everybody felt about themselves and about me. Thats how i did my job will stop thats kind of the way a lot of us act as leaders so there was this horrible moment when i realized there was absolutely nothing at all i could do about whether i had hurt people, whether i had betrayed people, whether i had said things i didnt mean, i couldnt protect anyone, not their feelings, not what they thought of me, and it was horrible because thats how i figured i did my job for all of my life and it was also strangely freeing. All of a sudden it was just what it was. Maybe that wasnt the way i did my job. May be controlling the way everybody feels about themselves in the way they feel about me isnt what i was doing. Maybe i thought thats what i was doing, but i wasnt. Theres something really interesting about that. How about repairing some of the relationships that had been damaged or did people understand . The first person i talked to was angie after that email. Everybody understood because we all live in this weird thing together called hollywood. If we were all actually nice, it wouldnt work. [laughter] these actresses dont realize theyre getting paid less explain. I run a business. People want to work for less money they work for less money. I dont call them up and ask if they want more. The truth is what women have to do is they have to walk away. People should not be so grateful. I shouldnt be grateful, they shouldnt be grateful people should know what they are worth and say no and they will. [applause] amy pascal speaking last night at the women in the world event in San Francisco with tina brown. Shes not the only executive who has talked about the lessons learned. Redstone talked to the glass door ceo at the Goldman Sachs tech conference. Glassdoor is where people go to post anonymous reviews about employers. One thing i have definitely learned is first off, everybody makes mistakes. I made lots of mistakes as we were building glass door and i have my share of truthful, negative reviews. People accurately portrayed where i screwed up and they were right. We have learned and we have gotten better. Glassed more raise 70 million with Tiger Global Management valuing the company at about a bill