Transcripts For BLOOMBERG Bloomberg West 20151218 : vimarsan

Its mobile Payment Service into china next year. T would see apple pay teveated been on the iphone, ipad and apple watch. The market so far hong kong and china are currently closed for lunch but heres how theyre trading in the morning session right now. This is a picture of singapore, tokyo, and mumbai. The nikkei surging after the b. O. J. s decision. Back in hoff half an hour. Time now for bloomberg west. i ¿emily i am emily chang, and you are watching bloomberg west. Coming up, apple polishes up ts Core Management team. Cook adding a new coo. The crossborder talent right, Silicon Valley looks to canada for the best and brightest in artificial intelligence. Show times secret weapon. How the cia helped make homeland one of the most timely and popular shows on television. Apple making big management moves today, naming Jeff Williams as its new chief operating officer. Its a job that hasnt been filled since tim cook left the position to become ceo four years ago. Williams has worked at apple for 17 years and supervise the launch of the apple watch. As far as todays executive shuffle, Johnny Sergio was promoted to Senior Vice President for hardware technology. Phil shiller will take on leadership of the app store, f tmple or myron will join apple as Vice President of marketing communications. Joining me now to discuss, bloombergs head of global technology, brad stone, and with us in new york, daniel ive. Brad, you interviewed Jeff Williams last year. Who is he . Brad everybody calls him tim cooks tim cook. That is a huge compliment. He is the guy at apple getting things done. He has historically been in control of the supply chain. A great illustration of what he does occurred last year. The apple watch project existed inside johnny ives studio for years. In 2013, tim put Jeff Williams in charge of the watch project, and it became a reality. So hes known for getting things done. Emily i pulled a quote from use your story where you say hes an uncanny cook clone. Ll, soft spoken, inexhaustible memory for tech both men have mbas from duke details, university and spent early years of their careers at ibm. Daniel, what do you make of this promotion of Jeff Williams . I know tim cook said today he had already been doing this job for years, but do you find anything interesting about the timing . Daniel i think the timing is interesting. Apple definitely has some headwinds. Weve seen it with some of the success softness. They really need to fill this role, and cook needs to have his righthand man. They are going into a pivotal 2016. I call it make or break from a rowth perspective. Thats why hes filling the role. Ultimately, it does free up some of the other management teams to look outside to m a and other projects. I think apple and cook for the first time in a while have their back against the wall. That is why the timing is not coincidental as we go into 2016. Emily do you think it is make or break . Is apples back up against the wall . Brad certainly, like all companies, they have their challenges. In the key smartphone category, they are running up against the aw of large numbers. Theyve diplomatated. The category is maturing. The phones tend to be incremental. This is an iphone 7 year, so the market will be expecting something significant, but more than that, we are seeing two years into it, tim cook putting his mark on this management team. Hes made other changes, scout for cell leaving apple. Some other small moves. This is a continuation of tim cook fully putting his imprint across the organization. Emily whenever you name a number two, talks of succession happen. Do you think this is tim cooks Succession Plan . Daniel i think there are some potential heirs. Right now, they definitely have a lot of wood to chop just in terms of getting growth on iphone 6s. But as your guest al lewdits the iphone 7 year. To, they need to expand, whether it is streaming, wearables, acquisition into enterprise. Right now, they definitely have a bit of an uphill battle come and you can see its a little bit of a proveme stock. That is why they are bulking up the management team. This is strategic from a timing perspective, but also in terms of product strategy. I think ultimately they fit like a glove in terms of who is filling the roles, but now it is, we need to see results, see products, and potentially mna. M a. Investors are a bit frustrated at apple, and you see that reflected in the stock. Emily the promotion of johnny is interesting. This was the guy brought into design the a chip. Apple has been trying to take the design of these chips in house. What do you make of that move . Brad its the importance of silicon to apple. The a4 which first appeared in the ipad and iphone 4, it was nothing particularly special or ast. Now the silicon is apples biggest competitive advantage, the fact that it owns the whole stack, and it is faster. It is allowing for new industrial designs. It is elevating synergy. He might be the most important guy at the company in terms of apples intellectual property and core competitive advantage visavis a lot of other Smartphone Companies out there. What is the significance of Phil Schiller taking on the additional role to run the app store . Daniel the app store is going to be at the center of the strategy now. Phil shiller is going to be a key ingredient in their success. I think it is something the investors like. You will see some changes over the coming year, positive changes, as the ecosystem expands and the app store becomes the underpinnings of the whole success. Brad to that point, there have been criticisms of the app store recently. The search and discovery is broken. The search is too difficult. Its hard for developers to make money. Bringing phil shiller into the app store, giving a veteran, Senior Executive direct control over it, increasing the visibility, and sending a message to the Developer Community that apple knows there are problems to clean up. Emily brad stone, daniel ives, thank you both for joining us. One stock we are watching, pandora. A favorable ruling on mood royalties was music to the ears of investors who sent the stock up 13 . The governments copyright royalty board said pandora and other web radio providers must pay artists 17 cents for every web stream. That was much lower than they had requested. Pandora isnt quite out of the rules. Content costs continue to soar, and competition from apple music is putting pressure on its margins. Coming up, a match made in heaven. Two Silicon Valley heavyweights uber and facebook have teamed up to make booking a ride even easier. More on that deal when we return. You may not know her name, but you know her work. We sit down with the woman who makes showtimes homeland series a ratings powerhouse. Emily a story we are watching, the head of googles self driving car unit says hes disappointed by a california proposal that would put the brakes on googles esearch. The draft rule would require a self driving car to have a licensed driver in the car at all times. Program director Chris Thompson says this maintains the old status quo and fall short of allowing the technology to reach its full potential. California has more cars on the road than any other state and often ends up setting the standards for the rest of the auto industry. At 62. 5 billion dollars, uber is one of the biggest unicorns out there, but the company says its not ready to go public just yet. Ubers chief Business Officer spoke to bloomberg earlier today. Uber is 5. 5 years old. It is a very young company. Weve got a long way to go. I think travis the other day said, its like asking a ninth grader what they are going to wear to the prom. You got some time. When we are ready to go, we will go. To go just to go is somewhat of a negative side sign. We are motivated to drive the value of this company, and we will do it for as long as it takes. Emily we are joined by Eric Newcomer who covers luber for us and alex brinker who covers ipos. Nothing really new from michael, repeating what travis has already said. Eric the idea that uber says its not close to an ipo isnt a surprise. When you look at the valuation and the fact that the company has raised 10 billion, its hard to not be like, what, this company is not going public soon . But consistently thats what uber saws and has been telling its investors. Emily alex, what are you earing from investors . Bviously public investors who havent had a chance to get in on some of these rounds have been chomping at the bit. Returns have not been great this year. Any kind of upside for them, they want to get their hands on. It does seem the company is just not there. They have expansion issues. They are looking to other industry verticals like delivery. They still need to figure out their presence in china, and they still have this overhang with whether or not drivers are going to be classified as contractors or as employees. There are still things to figure out and iron out that if they were to go public would make for a very thick risk section in the prospectus before they sell shares to investors. Emily emil also spoke about china. I would like to roll the clip where he talks about just how big china is becoming in terms of becoming part of their usiness. Emil im really excited about china. Five of ubers top biggest cities are in china now. Five our top 10 in terms of the number of trips we do. Beijing just got to be our number one city in the world, bigger than new york and london. Emily anything new there . Eric the thing to Pay Attention to is trips. Uber is doing a 10 of trips in a ton of trips in china. I think the amount of revenue they are doing in china is what to look at through the question we should be looking at is, they are doing a lot of trips in china how much money are they doing . Emily this is a company that as raised 10 billion. 62. 5 billion valuingation. Alex, are they setting themselves up for a potential this is the most highly valued unicorn ever are they setting themselves up for a potential down around . Alex you have to think that the Scarcity Effect has played into these valuations, and you also have to look at, not only are they one of the biggest unicorns, but they are bigger than 4 5 of the s p 500 in terms of market cap. When you look forward at some of the things eric is talking about in terms of revenue, you have to think about the realistic multiples they might be able to fetch, which is how these public investors are going to look at this company. We dont necessarily have the granularity yet. They are closely held. Given the ipo market now, tech ipos have not done extremely hot. This would be an outlier. It would be big, as the likes of alibaba was big. There might be more excitement that uber could drum up when it decides to go public, but this is one of the fears. Private rounds have really raised the valuations to a level that cant be attained when public investors start to get involved. Emily i also want to talk about this deal between uber and facebook. They struck this deal whereby you can click on an address in Facebook Messenger, and it will call a new uber for you. Its similar to a service that wechat has. Its very widely used there in china, because that is how people use wechat. Its not necessarily how messenger is being used yet. How big of a deal is it . Eric i think its interesting, but i agree with you that its not on the wechat scale. Wechats super popular in china, whereas Facebook Messenger competes with regular text messaging in the united tates. Its not kai quite the sort of asumede mode of communication that it is in america. The scale for uber is a little smaller, but i think it has Great Potential for, i message my fans, we say, lets meet here, and we arrange our rides. Emily what other partnerships does uber has like this . Eric they work with google and google maps. Those are some of the important ones. Microsoft is a strategic investor. There are areas where uber is saying, were such a big brand, bigname, all the Companies Want to partner with us. This is an Early Partnership with facebook. Emily i want to ask you one more question about this lawsuit. The ceo of uber was sued by a customer for pricefixing. What is going on here . Eric its a little weird. I read it this morning. Basically,travis has driven a number can an uber before. He is competing with all the other drivers who drive for uber, but uber is in the process of setting the price at which all uber drivers have to accept. The lawsuit is arguing, travis is pricefixing and making the other drivers compete with him and what they are charging people. Thats how i understand the case. Emily does travis drive regularly . Eric i guess it doesnt surprise me that the ceo of uber is occasionally driving, but im not sure. Emily interesting. Well have to see how that plays out. Alex, eric, thank you both. The Financial Force is strong with disney. The latest installment of star wars is shattering Box Office Records around the world. The movie opens thursday in the united states, and fandango says presales for the film have broken records. The force awakens pulled in 14 million overseas wednesday when it opened in 12 international markets. Observers say the movie could challenge the alltime Global Box Office record of 2. 9 billion set by avatar in 2009. Coming up, a brain drain north of the border, as Silicon Valley raids canada for top researchers in artificial intelligence. Details when we come back. Emily airbnb is trying to make new friends. The startup is reaching out to some of the largest u. S. Apartment owners, with the aim to work out a deal that would allow tenants to rent out a nit on airbnb with the landlords blessing. Avalon bay, Camden Property trust, some of the Companies Said to be in early talks with airbnb. An agreement could include some kind of revenue sharing, but airbnb would have to reassure owners they have a say over what happens at the properties. Canada is fast becoming known s a leader in artificial intelligence. Its origin of Pioneering Technology now found in facebooks facial recognition powers. Canada may be losing its edge as an ai leader as homegrown experts defect to Silicon Valley. They are getting hired by the likes of facebook and google. I want to get more insight from the Vice President for Product Development from the canadian tech startup maluba. Thank you so much for joining us. How did canada become such a hotbed for ai talent . Mohamed thanks for having me. Its a great question. We have always been pioneers in Computer Science in canada. In ai, we have had three mazing cofounders. All of them were based out of universities in canada, and they were able to do really cool Pioneering Research in the space that led us to where we are today. Emily basically, your technology teaches computers ow to talk, is that right . Mohamed we are Technology Company that uses deep learning techniques. Solving natural learning problems. An example of what weve done, weve built out voice Search Experiences on tvs, phones, cars with a lot of top brands. Emily are you seeing a brain drain from canada to Silicon Valley when it comes to ai talent in particular . Mohamed yeah, absolutely. The crazy thing hasnt been fostering talent. Canada has been doing an amazing job of cultivating alent. Eye a a lot of the Pioneering Research has been demun canada. Ifmost of the problem is retaining this talent. There is a statistic that says 350,000 canadians are based in Silicon Valley. Those are some of the smartest canadians who have left to do their own work, leaving to google or facebook or some of their own startups. Emily we are not just seeing facebook and google hiring ai talent, but also buying ai companies. If facebook comes to you and says, here is a few hundred Million Dollars, would you sell . Mohamed if facebook came to us with a few hundred Million Dollars . T depends. A lot of the reason why we stayed in canada was to build out our experiences over here. The innovation is based over here. A lot of the canadian startups are being bought out and going to the united states. That is not something we want to do. We want to be based out of here. We want to build out over here. For example, we created and started a new office based out of montreal. Emily what do you think are the most Innovative Ai Technologies being developed in canada right now, and what are the big themes . How will we see these things play out in ai next year . Mohamed a lot of the cool stuff that is happening right now is around advancements of using techniques like deep learning and image processing. We have seen a lot of advancements around that. There ps a lot of buzz around google boeing able to see Neural Networks to the point it could recognize cats. In the past, weve seen a lot of advancements around images and speech recognition. Next year, i think you will see a lot of things around language understanding. Ai systems would be able to understand what we are saying, speak and communicate back to us, something weve never seen before. A lot of the stuff that is happening in deep learning is the concept of self driving cars. Those are areas that i think would be interesting. Emily Vice President of Product Development for maluuba, firmly based in canada for now. Thank you for joining us. Still to come, google, facebook, and apple have set up shop in israel in recent years to stay close to toptier tech talent, but is the countrys comparison to Silicon Valley justified . We will get into the matter with investors next. eeeeohmumohweh hush my darling. dont fear my darling. the lion sleeps tonight. hush my darling. man snoring dont fear my darling. the lion sleeps tonight. woman snoring take the roar out of snore. Yet another innovation only at a sleep number store. P its 12 30 here in congress kong. Jon autopsy date of the top stories, the bank of japan has meantained its 80 trillion yen asset buying program. The scheme may be pushing other investors in the bopped market though. The b. O. J. Now holds more debt than any other investor class. A private survey of chine shows what it calls disturbing deterioration across the board in the fourth quarter. All sectors were weaker. He report is based on strews with more than 2,000 ferms and business executives. Ail baba has been warned bill pidto u. S. That it will be blacklisted if it doesnt do more to feet counterfeit goods on its style. Alibaba has been told to simplify its complaints process, speed up the removal of fake goods and hit those involved in with fines. Apple is expected to take its mobile Payments Service into china next year. It would be activated on i phones and i pads and the apple watch once china serts system. Samsungs new mobile pay system would also launch there next year. And heidi has a look at markets. That was a short rally we saw here in asia 5789 back to declines and it looks like thats how were going to end the trading week. We saw declines following that bank of japan decision to, as expected, not expand market stimulus. Hong kong managing to crawl back into positive trert territory by a tenth of 1 . The sing pressure on dollar strength. Also a quick look at the u. N. Because it is yuan because it is day 11 of utahans depreciation. 10th darren now the longest on record. This is the current stretch of losses that were seeing now. We did have one piece of good news out of china, which is property prices picking up in more cities than expected in the month of november. As sush such, we are seeing a slight regional slowdown. Properties in hongcopping and china seeing very strong gains. We are counting down to the opening in hong kong and china at the top of this hour. From Silicon Valley to the socalled silicon wadi, it is our weeklong spotlight on israels booming taxing. There are more than 1500 startups in the nation and 64 accelerators, and weve seen google by some of the most promising companies. Is israels description as a mini Silicon Valley justified . Joining us, Elliott Gotkine who was in town, along with David Blumberg and shuly galili. Both of you work closely with Israeli Technology companies. David, i know you guys invest heavily in companies in israel. Do you think it is fair calling it silicon wadi . David sure, although most of it is on the beach. Sillingon beach may be better. Emily that is already taken by l. A. David the reason we invest as an earlystage venture fund, the reason we invest in israel so quickly, its the closest ecosystem we can find to Silicon Valley. The entrepreneurial talent is similar. The Technological Prowess is the highest quality. Thats why were investing in israel. Emily you guys run an accelerator or incubator for israel he startups in Silicon Valley . Shuly right now, we invest in israeli entrepreneurs. 100 of our companies are israeli entrepreneurs. We believe that the country and the landscape and the ecosystem of talent is phenomenal, and we have seen a lot of similarities between what is going on in the market and in israel. We are very bullish. Elliott weve seen a tremendous number of israel he startups coming to Silicon Valley, and also a lot of med techs going to boston. Is there any sign of slowdown whatsoever . Is it all systems go still . Shuly its increasing. I think there are more and more israeli entrepreneurs facing the market, and they want to be where things are happening in terms of their customers, in terms of the deals that they can close here. This is where they are going to have to scale their companies, and i think there is a lot of Great Potential opportunities for israeli entrepreneurs to learn more of the business knowhow of how to Scale Companies in Silicon Valley. I think thats an incredible opportunity. Emily how many unicorns are there . David there are om a handful right nouch the definite of a unicorn is a company that is private and valued over 1 billion. In our portfolio, i would say we have at least three. They are op that way what do you call them before they are 1 billion . Zbras . Emily ponies. David i hate to name names, but the three that seem they are dancing towards that value range, credit on rack, which is headquartered in the boston area, malta israel, which provides merchant acquiring on a global basis, and another one based in San Francisco called fundbox, which allows Small Businesses to clear receivables and get financing easily and quickly through einvoicing systems, like zero or intuit. That is a lending company. Another one in payments, a Company Called zooz, and another one called yatpo. Emily are there any technologies that Israeli Companies are better at than Silicon Valley companies . Where do they have an edge . Shuly anything related to data. As we know emily that is quite broad. Shuly i think when it comes to Cyber Security, data security, analytics, things that today are very much needed, but i think that Everybody Knows that israeli entrepreneurs come with a lot of training and background from the military, so i think weve seen a lot of talented companies coming out with computer imaging and things like that. I think that Cyber Security is the top. David i would say that. I have a personal bias. I was an early executive in the early days of check point software, which is one of the leading firewall companies. They were the first ones with a great ui. Before, it was only for unix geeks. The israeli need for their own defense is a furnace that creates incredible entrepreneurs with specialized talent that the world seems to need more and more of every day. We are fighting nationstate wars, cyber gangs, and covert espionage. Corporate espionage. The proliferation of new platforms, mobile, cloud, ios, android, has made the need for security greater. Emily i want to turn to one in particular israeli tech story, mobileye shares bouncing back after a decline yesterday after encouraging words from elon musk. The story began with a report suggesting that musk was considering replacing the israeli maker of Driverless Car Software with a rival technology. A hacker developed his own software in a garage. Musk offered him a multimillion dollar bonus if he could produce something that would let tesla discontinue using obileye. Today musk claimed the story was i accurate and issued this statement. Yesterday, the short seller Citroen Research called mobileye its short of the year. Youve been speaking with the founders. What are they saying . Elliott unsurprisingly, they disagree with some of the claims. A quiet response from one of the cofounders of mobileye he said to me in an email, to think that one person working in a garage is going to make an Autonomous Car is beyond common sense and this is the killer one what was reported is an achievement that any student of mine can do in less than six months. Nothing special about it. Its worth noting he does have a phd. His specialty is in Computer Vision technology. Hes a professor the hebrew university. He said one of his students could have done what George Hollis did in less than six months. Nothing to brag about, no story. Emily what is your guys take . David in this case, it sounds like mobileye could be safe. The real key we are learning in israel and Silicon Valleys product cycles are shortening. You cannot rest on your laurels. That is one large corporations, samsung, google are coming to us venture capitalists and looking for more innovation. Shuly i totally agree. I think that the lack of innovation nor the need for more innovation is there among a lot of corporates. I think that is what drives them to israel. We see now all the Multinational Companies are there, from google to facebook o dropbox. They acquired a company last year in israel. The first office is there now. We are continuing to see Multinational Companies looking to invest and pour more money into israel and look for nnovation from israel he entrepreneurs. Israeli elliott there arent many Silicon Valley Companies Left that havent bought Israeli Companies. Now Chinese Companies are coming. Youve got big guys like alibaba coming in and making acquisitions. Is this some kind of change we might see, not only more chinese and other Asian Companies coming to israel, but also israel continuing to look east rather than west . David its an extremely interesting point. E are seeing not only chinese, korean investors and Large Companies come to partner, but also russian. Its interesting because it is part of the nonaligned, and india, as well. All of these large nations who do not want to become dependent on the u. S. Are looking to israel. As an equally advanced purveyor but without some of the baggage that might come with n. S. A. , etc. Emily emily fascinating stuff. Thank you for joining us. Elliott gotkine, our middle east editor. Coming up later, we will continue to highlight israels texting with a look at one tech theme with a startup thats give them the most lowtech toy out this with a high tech twist. Plus, it is one of the most popular shows on cable, one of my favorites. I will sit down with the executive producer of homeland to find out how she stays ahead of headlines. Emily the old saying is that art imitates life, but sometimes, it seems like it is the other way around, life imitating art, and that is the case when it comes to the showtime series homeland. On monday, new York City Police commissioner bill bratton referred to the show while talking about a bogus Terror Threat on the citys school system. In viewing it, i think the instigator of the threat might be a homeland fan watching homeland episodes. It that is mirrors a lot of not recent episodes. Emily homeland season five finale airs this sunday. I cannot wait. Joining me, the shows executive producer and sli linklater. I am a huge fan. When you hear a new york official saying that a Terror Threat is mimicking homeland, what do you think . Lesli i can tell you it is overwhelming. It is indeed a story we are telling, and it is overwhelming because there is nothing that compares to reallife. Emily the show has been amazingly prescient this season, especially in light of the terror attacks in paris. How do you come up with these storylines . What kind of conversations do you have. Lesli what we do every season is, we go to washington, and the creator of the show, alex stands, and the whole writing staff, myself, claire danes, mandy patinkin, we meet with an array of intelligence experts. Out of those conversations and what they think is almost their worst nightmare, that is where the season comes from. This year, the issues that kept coming up over and over again were putin and isis. Emily just give me an example of what the cia told you was their worst nightmare, what they told you keeps you up at night, which made you say, this has to be the plot. Lesli honestly, because im a director, im not involved in he creation of the plot. That really goes to the writers, alex stanza and the entire writing staff, but it was almost a Factfinding Mission to find out what all of these experts are really thinking about and concerned about. Of course, one of the reasons we set the series this year in germany is that germany has the strictest privacy laws. It is a place where there are lots of hackers and journalists and artists. Berlin was an ideal place to set season this year, and it was also exciting to be shooting in the city where the series is being set. Emily we do have a clip from the show this season. I want to share it with our viewers. You are cia. I was cia. I am a private citizen now. A data breach in berlin. Shut it down emily is there anything so explosive or dangerous that you wont touch, that the show ont tackle . Lesli i dont think we would tackle anything that puts anyone in any danger, but we are trying to deal with some real issues and make people think. One of the things about homeland is it really does live in this world of ambiguity and shades of gray. Nobody has a white hat on. Nobody has a black hat on. Everyone has their own point of view, and you have to respect that. One of the scenes i remember shooting in the second episode is about this issue of privacy, and each of the characters in the scene were talking about completely opposing views, and yet they were absolutely correct. I think homeland lives in that kind of world, the shades of gray and opposing opinions, and no one being 100 right. Emily do you ever worry about giving potential terrorists ideas for potential terror attacks or life imitating art to a dangerous extent . Lesli that is a terrifying thought. Hopefully no. We are telling a story, and hopefully, we are not giving anyone ideas. We are telling stories about characters. Lets hope we are not doing that. Emily how do you respond to some of the accusations out here about racial profiling on the show yet though you guys are tackling some meaty issues. Lesli yes indeed. If you put out the kind of material, you are going to get a response to it. I do think we have gotten more feedback that we do show both sides of an issue, both sides of the character. There is no way at all that we want to put out that any particular character or person, type of people, religious belief is bad. There are always two sides to an issue, and we try to show that. We try to show positive characters and characters that arent. Again, when you are putting out controversial and complicated material, people will have a strong opinion about it, and i think we have to be prepared for that. Emily i know that you are an incredibly powerful woman in hollywood. Youve been mentoring young women for years. We heard Jennifer Lawrence come out and talk about not getting equal pay. Do you think that there is a level Playing Field in hollywood, and if not, what is to be done about it . Lesli i think directing is not an easy position for anyone, an easy job to do whether you are male or female, but i absolutely believe it should be an equal Playing Field. It should not be harder for women to direct than men, and unfortunately, it is not an equal Playing Field. If you ask me when i started directing 20 years ago, if i wouldve thought we would still be talking about this, i wouldve said, absolutely not, this will be resolved, and sadly, the statistics are the same as when i started directing. The people who are in positions to hire, we have to make a difference, because there are more complicated stories to tell, and i think it will only help storytelling to have a broader point of view. Emily lesli linka glatter, im very excited about the Season Finale coming up this weekend on showtime. Thank you so much for joining us. Lesli its been a pleasure. Emily coming up, we will take to the skies and return to our focus on the hottest israeli tech ideas. Bloomberg west continues next. Emily what do you get the new cross a Google Cardboard headset with an iphone, with a paper plane . One israeli toymaker is hoping ou will pay to find out. My name is shai gotaim. Im the inventor of power up toys. We invented powered paper planes you can control. We use very hightech and lowtech materials. On one hand, for the paper, we are using a standard sheet of paper. And google card board. Low cost system. On the other hand, we have this very hightech, highend drone technology. It has an onboard computer, 10 different sensors, a speaker, a microphone. It is a drone, but its a oityourself drone. The Paper Airplane is a flying machine and uses the same aerodynamic principles as any ircraft. Once you have live streaming, its not just recording video. When you are taking off, you are on the airplane, and you feel as if you are a bird. You are soaring over the trees, and when you crash, you feel as if you are crushing with the real aircraft. Its a thrilling, exhill ar ating experience. Kickstarter is a perfect platform to test the product. If it fails, you know it has failed, and you shouldnt produce it. If its very successful, then you do it. We launched on kickstarter, and we met our 100,000 goal within four hours. The campaign continued to rocket and go up, and we see this as confidence that the backers are feeling. We hope it will grow more and help us introduce a new category, new product, accessible flying paper be drones for everybody. Emily that was the power up spv paper drone. That does it for this edition of bloomberg west. Tomorrow, do not miss my interview with blackberry ceo john chen. We will see whether or not he sees his Android Phone as a success. We will talk to him tomorrow morning on bloomberg arkets. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. 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