Seamlessly come into the business. We will be very focused on continuing to deliver on those projects. Cory the selection of an Insurance EuropeGroup Official says greece needs to cooperate with the eu now. There must be in agreement on the total program by that time. Greece has been urged to open its books in order to get more bailout money. Athens says it will do so tomorrow. Hillary clinton will take questions in an hour or so about the use of private email. Last week clinton called on the state department to release her emails. The review process could take months. Barnes noble reported a 2 drop in Holiday Quarter sales. Sales were down 51 in its nook ereader business. Our nook Team Continues to identify what continues to be a challenging environment. We remain committed to supporting the new product the nook product because it is important to our customers. Cory last month, the company said it will put its split its college Book Business from the rest of the company. Blue coat has an Enterprise Security solutions. Target apple, according to newly leaked documents from snowden a multiyear sustained effort to break apple security measures and gain access to iphones and ipads. These latest revelations are being published in the online publication insert up intercept. It tells the story of a security researcher who created a modified version of Apple SoftwareDevelopment Tool to hack surveillance backdoors. They also up really about tactics and bribes about their sheave mens and a secret gathering called the jamboree. The document stopped short of saying whether jamboree was a success and whether researchers were able to get into these devices. I am joined by Matthew Green and alan butler. When you look at this program, is this beyond targeting bad guys . Is this going to the vacuum cleaner approach to everything . Matthew green i suddenly think this program is a huge invasion of privacy and security of american users of these devices. The companies spend in the users spend billions of dollars to buy secure Communications Technology in these phones that we use everyday. I dont think the government should be in the business of trying to crack all the protections of those phones. Cory matthew, let me ask you for your take on the story. Its hard to be surprised by these notions that the nsa in the cia are going after every piece of data they can find. What is different about this . Matthew green what is the target gear at the end of the day is that Software Developers right apps for your iphone. At the time that these documents were first produced, most of those producers were u. S. Citizens. The end may be to target terrorists, but the means is to target americans. Cory as the iphone is used by more more people, they will need to know how to do that. Technologically, it is interesting that apple really changed the way the device works in the way they gather information after the iphone 3. The snowden documents are gathered in time before the iphone 4. Matthew green apple has been at the forefront. It has a most sophisticated for phone technology. First of all, it is working. Second of all, there are people out there who are attacking them and they should not be doing this. Cory alan, when you look at this, do you see it out of a paragon of Privacy Protection or do you see it as a target or difficult target for white hat and black hat hackers . Alan butler i agree that apple has done a lot to promote their customers privacy and security. Again the emphasis here is its both important to protect our data, to lock it down, to encrypted, and to make sure that our communications are secure. Cyber security is an issue that is really important to people here in washington, see washington, d. C. , and across country. Cory on this issue of privacy and how apple is changing their own methods and the privacy means for the company, listen to this. Without a doubt, safeguarding a world of digitized information is an enormous task and no Smoke Company or organization can accomplish this on its own. That is why we are committed to engaging productively with the white house and the congress and putting the results of these conversations into action. Cory alan, it sounds all nice and from the, these discussions with the help the white house, but the notion that they are gathering a group of hackers and trying to find a backdoor into apple devices does not suggest a from the conversation would into. Would ensue. Alan butler thats right. There is an inherent conflict in securing the infrastructure we use everyday to make it to communicate privately and securely in the interest of some in the Intelligence Community to be able to gather data on what people are doing and saying. Cory we look at the notion of how big this is. What the documents from snowden reveal is the budget for this thing was 35 million. But they had over 200 people working on this thing. The goal of it was to defeat the strong commercial data and Security Systems not just on the iphone, but with a focus on the iphone. That is a big budget. Imagine a room of 200 people working fulltime on hacking this thing. Do we think that it worked . Do we think they were able to get into these devices . Matthew green i think that any government or Foreign Service spends this kind of money, given enough time, they are going to succeed. Yes, i think they probably did. Cory interesting stuff. Thank you both for your time. Bloomberg west will be right back. Cory here are some top headlines. Chevron to speed up asset sales. The company says it will increase asset sales by 15 and new investments and a slash new investments. More oil coming out of the ground. 30 people hired to focus on big day to investments. The team will build computer models to analyze public trading data. Starbucks will expand its mobile orders. The service is currently being tested in portland oregon. Starbucks plans to rollout mobile ordering nationwide later this year. Go pro ceo nick wood is known for a lot of things. Nick woodman is known for a lot of things. But one lesserknown is philanthropy. Emily chang caught up with him at a fundraiser called build, an organization that promotes innovation in public schools. Emily what does the word entrepreneur me to you . Win some you can take an idea and make it real. An entrepreneur can be a business person, an artist, a musician, anybody that can have an idea and turn into reality. Emily and how did you do that . I dedicated myself to it. When i was 22 years old, i promised myself i would work my tail off until the age of 30 at a minimum to succeed as an entrepreneur. That was extremely important because i had a lot of failure along the way. Emily the First Company started failed. And then there was a company that i did not even start that i failed out. So i had to failures before go pro. Emily how do failures drive you today . At the time, they scared me. Failure isnt easy. I didnt think him oh cool, i failed. Success has taught me that one of the most important things that an entrepreneur can have his perseverance, a willingness to fail, pick yourself up, and give it another shot. If you dont have that great that grit, you are going to get run over. Emily why build come of all of the causes you can support . Why build, of all of the causes you can support . I think build makes school exciting. The lessons, the tools that help kids learn, how to start a business tying all their other classes together in a meaningful way, in a way that is fun, and frankly in a way they can get paid for talk about motivation your try to get an a, but you can make some money doing it. I think it makes tangible why school is so important. If you can engage a kid, you can keep a kid in school. Emily you recently donated half 1 billion to philanthropy making you the six the biggest sixth biggest philanthropy in the country. My parents helped me get going with my business. We would like to return the favor and help others realize their full potential as well. Being an entrepreneur, build speaks to me. My wife and i are extremely excited. Emily how do you encourage and foster entrepreneurship, innovation, risktaking within gopro . How do you keep a differentiated from the competition . Apple is always looming. How do you keep gopro, what youre famous for, the best of the bunch . Having failed they couple of times, i realized that your business can always go away. You can never get complacent. I have had it all taken away from you before. It is important to wake up every morning a little bit scared that that might happen. Never think that you finally made it. Emily does xiaomi scary . Does apple scary . Apple is a good thing. Yeah, they scare you a little bit. That is a good thing because it drives you and drives you to put more into york. It is something into your work. It is something that is alive and well in our culture. Stop trying to reinvent yourself. Emily gopro had a wildly successful ipo. The stock has been volatile. You have people comparing the company to apple and analysts told me they think you are the next steve jobs. How do you reconcile that . You dont. You just try to do the best you can. We are fortunate that we have a very longterm vision at gopro. We sit down with investors and they understand our vision. Then it becomes a question are we the west execute . Are we the ones to execute . The stock will go up in the stock will go down. But as long as we execute against that vision, we will be fine. Cory bloomberg west will be right back. Cory when the apple watch starts shipping, the focus will be on business. Some interesting apps were discussed in the apple launch yesterday. You guys were a crucial part of the announcement. What do you see as a functionality in the watch . I think the big differences productivity and speed of access. Its about how quickly you can focus in on very specific rationale it is available on apps on your watch. If i am a sales manager, at the end of the quarter, i dont want to have to pull out my phone to keep approving deals. I want to tap down and say yeah, that is approved. We have done research. The average person is pulling out their phone 100 to 150 times a day. Most people look at their phone when they do not find the one thing they are looking for, they get distracted. The watch is really focused. It is a glance. Cory i thought the demo of your service on the watch wonderfully explained the notion that a contractor hits the button on his wrist when he starts working an electrician in your house. And the second he leaves your house, it stops. It is an intriguing location device. Why is this better on the watch . The watch lets us take this to the next level. On the phone you have to remember to start it and stop it. For Small Businesses, cash flow is why they are using invoice to go. But if you dont remember to start the clock, you are not going to get paid. So as soon as you start on the job site, you start billing. That makes our customers more money because they get the invoices out, fully billing for all the time they spent on site. Cory do you imagine for the contractors who are doing the work using invoice2go, it lets me know for a fact that the worker was there and gives the plumber, for example, a competitive advantage . Absolutely. The more detail you can get, the more confidence you have that work was actually provided. Cory do you expect therefore the watch and the business device to be kind of a Marketing Tool for the Service Provider . I dont know that it will be so much a Marketing Tool as it will allow them to access more jobs because they will know that they can fill that job professionally. That is something we see in the Small Business segment. People want to be able to act as professional as a very big business, by being able to have really good invoicing, really clear estimates. All of these things are enabled through smartphones. Cory development, talk to me about that. We have been working on wearables for over a year. Yesterday, we launched salesforce for apple watch. People can now personally glance the data andrew and drill into it in a verified way. People can take the framework and use the cloud platform. They will still use the apple tools. But they get security, identity, workflow, all the things a you need to build an application really fast. Now they can extend it to the watch early quickly. It was great watch really quickly. It was great for us. Managing security is important for building a business app, but learning to rebuild apps for the watch. Its not the same as taking on intriguing it down. How are people going to use this in a quick way . Cory your company took limited resources and focused on the watch. Why did you make that choice and not choose to develop for other platforms that are widely in use . Because we always believe in the Small Business person wanting to make themselves more efficient with technology. If there is some thing that invoice2go has proven, people want to adopt these new platforms but you have to do it in a way that is extremely practical and in our case helps people make more money. Cory thank you very much. Next up we will talk with and analysts of a big google vc operation. Cory welcome to bloomberg west. President obama denouncing a letter sent by 47 republican senators to irans president. It warns that any diplomatic deal on nuclear arms approved by president obama could easily be reversed by the next president. I think it is president i think it is ironic for members of congress wanting to make cause with the hardliners in iran. It is an unusual coalition. Cory republicans say a deal could help iran develop nuclear weapons. The new Zealand Dollar hit a fiveyear low against the u. S. Dollar a letter sent in november to the federal farmers in new zealand threatened to contaminate baby formula unless the new Zealand Government stops using it. 40,000 samples showed no trace of the poison. The Prime Minister called the poison thread ecoterrorism. Asset seizures, a judge in the case has already come under investigation for driving one of his luxury cars. He was once worth more than 40 billion. Stocks are under pressure today. What do we see jules . Julie there doesnt seem to be a specific catalyst here, just a general unease that people are feeling with the uncertainty over when the Federal Reserve will be raising interest rates. We see a lot of the economically sensitive groups, utilities the only one that is higher. The dollar is higher over a basket of currencies since december 2003. Cory google put huge resources into looking at the next moonshot deal. In january, the company made a 900 Million Investment in elon musks spacex. Looking at things on how to extend life, the search for immortality on the cover of next months bloomberg magazine. Bill maris is the head of google ventures. The story is fascinating. Have you seen it yet . Its great stuff. An interesting look adventure capital and big outlandish futuristic bets like extending life. I think outlandish is the right word. The headlines are a little science fictiony nonsense because what we are looking at is real science. People are getting caught up in the headlines, which is about living forever and that is not really what we are talking about. We are talking about investing in companies to help people live healthier, longer lives and hopefully live to see their grandchildren and that sort of things. Cory do you approach these thinking, hey, some new stuff as possible. If i can learn the theme, i can select the companies that will be successful. The theme here is Life Sciences where we put 36 of our capital last year. And the goal of those companies is to help people not suffer from diseases not die of congestive Heart Failure or cancer or the sorts of things that affect lifespan. That is really what we are talking about. Cory i am curious about the approach. Its not just biotech. It is datadriven. Described flat iron to me and why you put 130 million into this. Flat iron is our largest investment developed by x googlers. They are collecting information from the Hospital System about cancer patient, patient treatment and outcomes. They provided to scientists, researchers, and physicians to help provide better outcomes. Cory it sounds like 23 me. You give a vial of your spit and they give you some feedback about who you are and where you came from. But they use that to create this giant database of genetic markers. Also, a Portfolio Company of hours. No coincidence. They are companies that live at the intersection of technology and large data sets. We think we can bring a lot of value to help those companys growth. Cory when you look at the hiccups that 23 me has had, it is an intriguing one because it is pushing against not just the limits of technology but really pushing at the limits of government and how government looks at how do you help a company get through those or imagined those roadblocks . All of our companies faced hiccups along the way. In many cases, it has to do with regulations because the innovations the companies are developing bump up against the limits of what policies were made to address. 23 me is try to do something that has never been done before, provide your genome information to you. Policies written 10 or 20 or 100 years ago never had that in mind. The company is doing a great job tried to do that with the fda. Cory in your role as vc will you take on the advocacy of these things . Some of these laws written are very sensible. Snake oil was once sold. Now it is just a metaphor. The fda was created to save us from selling snake oil and planting goat gonads into the armpit. Do you feel like you have to educate the fda or just get rid of those kind of rules . No, this is an important role, a critical role. Nobody wants to live in a country without an organization like the fda. Through cooperation with those policymakers, to help them understand what the company is tried to do, the Company Needs to similarly understand why those reg