Transcripts For BLOOMBERG Bloomberg West 20150424 : vimarsan

BLOOMBERG Bloomberg West April 24, 2015

Offer. They say the 31. 2 billion offer is lower than the proposal, because mylans share prices have been inflated. The nasdaq surges to yet another record high. The index closed 7 10 . Strong earnings from google, amazon and microsoft helped fuel the gain. The nasdaq composite has almost quadquadrupled since march 2009. A time waster. A gambler, and an amateur. Thats how euro finance ministers described the minister. They made clear that greece cannot take any shortcuts to get additional aid. It was a very critical discussion. We came to an agreement two months ago and today, of course we had hoped to hear a result and an agreement on which we could then take a decision. And we are still far from that. He sees differently however. Here he is speaking after that meeting. We havent had full convergence yet, because otherwise we would have had smoke coming out of the chimney. But we are confident that we can have that. And in any case, it is our view that we have no right not to achieve this agreement. Meantime, germany chancellor Angela Merkel is calling for calm and understanding after the namecalling at that meeting. Samsung is boosting production of its curve displays after seeing Strong Demand for the galaxy s6 edge. People say samsung has started production at a third factory allowing samsung to double its monthly output. Samsung hadnt planned on starting production at the factory south of seoul until june. Now, to our lead, the times are achanging for apple, as the companys first entirely new product in five years, the apple watch, goes on sale today. Some customers who preordered their device may even find the watch in their mailbox already. But its hard to find if you didnt preorder it. Apple stores arent selling them yet, due to limited inventory and only a handful of luxury retailers will be showing and selling the watches. With the watchs debut another bigging fight. The battle to create the best possible app for these Devices Companies including twitter, uber target, American Airlines all out with apps already. Joining me here in the studio Corey Johnson, our editor at large in new york. Weve got tracy cofounder of the mobile marketplace. Also with me here in san francisco. Thank you all so much for joining us. Corey, you cannot get me the watch. Can we confirm that . We cannot confirm that. I didnt get you one today. Youre not going to surprise me with a watch in the middle of the show . If i told you right now, it wouldnt be a surprise. I did go to the store this weekend to look at the watch. And, you know i played with it when it first came out. Actually, my daughter, my eightyearold freaked out when she saw this thing. The notion of the functionality all the things it could do. It was so exciting to her, in a way it wasnt for me. I wonder if that sort of speaks to the surprise of the user interface. Now, steven, you do have the watch. What are your favorite things . Ive had it for a grand total of about 16, 17 hours now. So its still in that kind of honeymoon, getting used to it phase. Hold it up, so we can see it. Ive got it right here. Higher up. There we go and you can see, i mean, youve got all the functions you would expect. Youve got to world clock. Youve got your a clock. Imagine that. Imagine that. It does tell time. Everybody is asking. But youve got this suite of apps. Over the course of the day, well see about 3,000 roll out. And there are some notable ones like facebook and a few google applications that are still missing, that were yet to see roll out today. Hmm. And now youve actually developed for the watch. Tell us about what the experience is like. It was a great experience. Clearly, we didnt have a device in hand. So we had to think through, what is the User Experience that is best . Its hard to do to develop it for something no. We were invited to the apple labs. We were able to test out our builds, anticipating what the functionality would be. We speculated on what the best User Experience would be, and frankly, what the principles of the apple watch, around personalization. They said its the most personalized device apple has ever made. We simply said, what is the right Value Proposition for the user, given the stub hub spot in the marketplace . Offering year event alerts, notification of whats coming up in your area. If you have tickets for an invent, it will set up a clock that builds up hype for your event. And finally, being able to enter the venue with mobile tickets. How does a watch help your customers . Well, we are all about helping people connect to each other, more and more, and also to the brands they love. So were really excited to launch our app for the watch today, because were going to connect users. If you love your three Favorite Brands are going to go realtime to your watch. If theres new inventory, if theres a sale, it will be right there on your wrist. Well let you know in realtime. Do you think this is a luxury item, or is this something that everybody is going to want . Apple is selling this at some of the most elite fashion boutiques. In the world, is it really that kind of product . I think it is. I think apple is doing Something Different here. We see with the three tiers, which is obviously being sold as a true luxury good. Even when were not talking about the addition, i think we can see also with the introduction of the new mac book, that apple wants to think of its devices as lifestyle product, not just tools that help you finish your todo list. Theyre really things you live with. And they want you to think of them as a part of yourself and an expression of yourself. You know, im all about gold but i think i want one of the sporty ones. Oh fine. Ill return the gold. So steve and i i have sort of a small watch collection. None of them are particularly expensive, but i think that the generation referenced is going to be interesting for people. People who have a bunch of watches, are they going to abandon all the items they have for something that will be outdated in a couple of years . Im not sure people are going to want to give all of these up. Im already anticipating kind of having some misfeelings for my vintage watches in a couple of days. I do think this is a product you would have to wear every day. I dont think this is a product you can wear half the time or leave it home sometimes, if youre really going to get the most out of it. Hang on. Were going to continue this conversation after the break. Steven the lucky guy who has the apple watch tracy. Well be continuing this conversation after a quick break. Welcome back to bloomberg west. Im emily chang. Coming up, more on the apple watch and just how companies are scrambling to nail their app debut. Plus my special sitdown in just a few moments. First, a check of your Bloomberg Top headlines. Shares of the Indian Software giant slumped the most in nearly a year. That is after the companys annual Sales Forecast disappointed for the First Time Since its c. E. O. Took charge in august. The research firm, gartner projects world wide spending on i. T. Will shrink. Elaine wynn has lost her bid for reelection to the board of wynn resorts. They said an ongoing legal dispute between elaine wynn and her exhusband, c. E. O. Steve wynn, was bearing too much influence on board decisions. We turn now back to the apple watch, which is on a few wrists not mine. Not coreys. But steven has it in new york, and he is with it. You wont see long lines of diehard fans today. Apple has chosen not to make the watch available in its retail stores. Customers can buy it in select highend department stores. Will this help distinguish it as the Luxury Fashion item apple hopes it will be . Steven is back with us and the watch. Corey johnson is still here, tracy and parag. Parag, lets start with you again. In talking about just how important is the initial debut of an app . How important is it to nail that initial debut . Well, in Software Development you focus on your v1 product and figure out, what is the right minimum experience that you want to build . You didnt have a device in hand as your building this product so pairing down your features to figure out whats the right entry point to the market is the first task of business. Now that the device is out, now that we can try this on our phones plus our watches, and see the interaction between the two, youll start to see the quality of the experiences increase. The use of interaction to the phone, as i mentioned, continuation of your experience from a watch to a phone will start to improve. Youre saying that the killer app maker may have made an app for it, but it might not be there yet . I think so. Everyone is figuring out, whats the right use, given what they have today. Then theyll start to figure out the capabilities of the watch and frankly what the public wants out of a watch. Steven, would you echo that now that youve used it . I guess so. Just for a few hours. But i do think that the Software Experience is going to define this product in a way that it might not have for some other products. So far, the apps that are out do have much more limited functionality than what youre used to on your iphone and whether those are the right interactions, the wrong interactions or Something Else entirely, i think, is yet to be seen. Also, i think your point about siri we were talking about it during the break its interesting, when you think about the competition between apple and google, that if all the input is siri as much as google is a data company that learned from every search, apple now gets a chance to do that. And i dont think google will not build an app for the watch. They havent yet. 3,000 developers and google is not one of them. Its like a jay z song. No. I cant speak to that. But it is interesting to think about all that data being released to apple. Tracy, how important is this to not just your customer but in terms of every customer . We are all bullish about the watch. I think thats going to be a huge shopping tool going forward. I would agree with what everyone is saying, which is were all in the v1 phase of this and were all learning. But the faster you learn, the faster youre going to understand and develop the experience. So we know this because we launched on mobile, as a mobileonly app, about four years ago, and people were like, come on people arent going to shop from your phone. Four years later, now thats obvious. So when apple says theyre going to launch another platform that is going to get people closer to the products they love and to communicating with each other, we jumped on it. And we believe in it so much a that we actually have 85 people in our company and we brought on apple watch for every Single Person here. We should work there. I should work there are you guys hiring . Ha ha and part of of it is because we want 85 people on the ground testing this, so we can learn faster and quicker. Tracy a very generous cofounder at that. Parag, head of mobile for stub hub. Bloomberg, stephen, who i hope has security detail. Thank you so much. Still to come, my exclusive interview with facebook c. E. O. Sheryl and richard branton, coming up. Work, family life. As a working mom, i know how hard it is to juggle all of these responsibilities. Thats why i was so excited to sit down with facebook c. E. O. Sheryl and Virgin Group Founder Richard Branson for an exclusive conversation about how to manage this great balancing about and whether we all can really have it all. One of the reasons im honored to be here with richard is when richard and i have talked about this, what hell say is this is good for my company. We dont have enough diversity at facebook. And the reason we want more diversity is because we think well build a better product and a more successful company. I think what will really motivate business and contains and companies and organizations to really take diversity seriously is when they realize that not taking diversity seriously is harming their performance. So what is the conversation that you want people to be focused on now . Its about the culture. We are not going to get to equality until we change the fundamental stereo stereotypes all over the world. That means we dont fully engage. And we dont fully engage women in the work place. And thats hurting us. We know that at any income level, no matter how active a mother is children with more active fathers do better. Theyre happier, healthier. They do better in school and at work. That means theres a real cost to men not having the opportunities or not taking the opportunities to be as active parents as women. When i was pregnant with my first child, i ran an article that told me i read an article that told me i couldnt have it all. I cried for a couple of weeks. And i reached out to you sheryl, and you said no, this is not happening. Youre gonna do it. And thats honestly part of the reason im still here. So can women have it all . With el, lets ask well lets ask, do you ever get asked if you can have it all . Like in an interview . Can you have it all . How do you have it all . Do you ever get asked that . No. I suspect i spent nearly as much time with my kids as my wife has spent with the kids. So, you know when my kids were young, i moved out of the office. I worked from home. You know, i had the kids calling around while i was having meetings. Id be changing them as we were having meetings. And, you know, i found the time and was allowed the time to work from home. And i therefore think companies should give men that flexibility to work at home. Well, yahoo just ended its workfromhome policy. Are they on the wrong side of history . I think they are. I think it was a mistake. And i said so. And we agreed to differ on it. You know, she had a problem with the company and she wanted to the c. E. O. Of yahoo. I personally think its mistaken. I think that the people working from home and if theyve got kids they can get the job done at home and they can, you know, be around their kids. The trial captured the fascination of the country. Highlighting this issue of gender discrimination in silicon valley. The jury found in favor of kleiner perkins. What did you see in that trial . I thought what was so interesting about the trial is that so many women, not just in technology, but across industries, saw their own experiences. And you saw women posting. I mean, i wrote a whole book about it. But whats happening is that we have systematic stereotypes of women and systemic biases of women, that for men like ability and success is correlated. For women, success and likability are negatively correlated. As a women gets more powerful, she is less liked. A lot of the things that powell alleged were small. She was asked to take notes at a meeting. She wasnt invited to a dinner an allmale dinner. A lot of these things are incremental, small things that dont seem like a big deal but taken together, maybe they are. How do you prevent those kinds of small things . One interesting thing that came out of the dinner we had is how some women said theyre not invited, for instance, to go on business trips, because of the american law which is you know, where the men are worried about sexual harassment, so suddenly its all the men going on business trips and the women are left behind. There are some sort of slightly bizarre things that perhaps need to be thought about to overcome that sort of men bonding going on. But, you know, if i could just give one radical suggestion because i dont actually think were going to get to a situation where board rooms are equal for another 100 years wow no. But i think the way to get there is to do what scandinavia has done. And i know a lot of women dont agree with this. I just think youve got to say any new company that sets up from today must have at least 50 women on the board. Hillary clinton is running for president. Carly just announced. How do you feel, sheryl . Im thrilled anytime a woman runs for office, anywhere in the world, whether its the local state government, county office, or all the way up to our presidency. I believe this is the first time in our history weve ever had two women running. Thats great. The more, the better. Has anyone called you for advice . I know them both and theyre great women. What i think is great is i want more women in office on both sides of the aisle, in every party, whether theyre the most conservative party in a country or the most liberal, having women makes a big difference. Are you endorsing anyone yet . I think politicians are the people that endorse. But i am very supportive of hillary clinton. And id like to see more women president s all over the world. I think its time for yall. My exclusive interview with Sheryl Sandberg and Richard Branson. Catch the full interview in our special tonight, balancing act, a conversation on work family and life and whether we can really have it all, tonight 8 30 eastern. You can stream it as well. Well be right back. This is bloomberg west where we focus on Innovation Technology and the future of business. Lets get a check on Bloomberg Top headlines. The white house is reviewing its rules on drone strikes after the president acknowledged yesterday that the two hostages accidentally killed in a strike against alqaeda. Still, some congressmen say its not enough. They want a review into u. S. Intelligence procedures and whether drone strikes should be used at all. A major terrorist sting in italy. 18 people arrested all suspected of having links to alqaeda. Two even had reported links to bin laden. They were plotting against possibly the vatican. Some of the suspects are connected to a 2009 bombing in pakistan that killed more than 100 people. Second biggest bank lost about 2 billion in value after a statement that messina was stepping down. The problem . That resignation notice was fake. The news was sent around in an email registered to south africa. Another italian bank was the target of a suspicious statement in november. The former boss of a trader says theres no way he could have been responsible for the 2010 crash. A million things probably contributed to that crash. He spoke with bloomberg and said he was a star. He was always going to be the kind of person i believe would be legendary, potentially legendary, in some way in the future. The potential to be remembered as being one of the worlds greatest. He certainly has been over this generation. Meantime, he spent another ni

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