Transcripts For BLOOMBERG Bloomberg West 20160516 : vimarsan

Parade, cheered on by a grateful city. Global news 24 hours a day powered by our journalists in more than 150 news bureaus around the world. From the Bloomberg News room, i am shery ahn. Bloomberg west is next. Emily i am emily chang, and this is bloomberg west. Coming up, the oracle logs on. Warren buffett comes out swinging with two big bets on tech. We will break down the berkshireapple connection. Apple turned heads when it jumped into the passenger seat with didi. We will have details on a potential ipo. Reportedly working on its own private labels for things like baby products, snacks, and Household Items. There is a launch planned for next month. Our lead, Warren Buffett, the oracle of omaha, has disclosed a 1 billion stake in apple, announcing it bought 9. 8 one billion shares sometime in the first quarter. Buffett has historically stayed away from tech, saying he doesnt understand it. In late 2011, buffett acquired a 5 stake in ibm. Shares are down some 20 . Apple shares popped on news of buffetts buy, but the road ahead for apple isnt shiny. Carl icahn just disclosed he no longer has a stake in the company. Discuss, shira ovide from new york as well as reporter noah bureau how. I will start with you. What buffett has said is one of his two Investment Managers made this investment and didnt it. Ult him on what do you read into this big bet on apple . Noah there is nothing nefarious going on. Buffett has two deputy Investment Managers. He in trusts of them with 9 billion each of berkshires capital that they go out and get to invest in a way they see fit. What we have seen is one of these guys, they happen to be younger than buffett who is 85 hisf these deputies is in 40s, another in his 50s one of those guys liked what he saw and put 1 billion to work for apple in the first quarter. I spoke with a lot of investors today, and some of the themes they were hitting on is that apple has a ton of cash. It was trading at a pretty low multiple, and so investors that like good value, maybe there was some opportunity there. Emily the two Investment Managers we are talking about, weschler. Itsd interesting that the one tech bet buffett has made hasnt panned out. All tech isnt all the same, but given the history of ibm, how does that and your thinking around this investment . The ibmbviously, investment was buffett himself, and this apple investment isnt. That ibm investment has been one of berkshires worst investments. Buffett bought it at a high point for the stock, and since has basically turned in quarter after quarter after quarter of revenue declines. The stock price, as you said, is down about 20 from the point buffett disclosed his investment. He has made one not very good investment. Lets hope that todd and ted make a better deal with apple. Emily buffett has made many great investments and a few not great ones. The question is, is apple the next candor morgan or 21st century foxy . Noah it certainly seems like it is more in that range. Know, maybe it does well. The one thing we can say about ted and todd is they have similar longterm horizons like buffett does. To be lessing interested in apples next Quarter Results then they will be in where apple is a couple years from now. One theme i heard repeatedly from investors i spoke with is that they are likely going to let some of these bets that apple has beyond self driving cars or other things they have in Development Play out. That is where the opportunity lies. Emily of course, they just made an investment in didi, the uber of china. We are going to get to that later in the show. I also want to talk about yahoo . Buffett is backing in a Group Bidding for the struggling companys assets. I want to bring in m a reporter alex sherman who has been covering the slow march of yahoo s sales process. What do you make of the fact that buffett would be supporting this bid . Says its not a perfect personal stake, but i am providing financing. Alex its a little uprising on the face of it from what we just talked about. I can answer this question in two ways. Maybe yahoo isnt a tech company. Maybe its more of a Media Company. Lauren cop Warren Buffett does have a history investing in media companies. He invested in directv not too long ago. Its possible that Warren Buffett listens to dan gilberts pitch. And buffett have a relationship. May be buffett decided, look, give me enough protection, and if gilbert is working with exyahoo folks, they may decide the core business is worth zero. Maybe they convinced him the company isnt going to go bankrupt, and therefore, it was a decent investment for him to make. On the other side of it, we cant really explain what yahoo is. If tech investments in general are off limits for Warren Buffett, you would have to understand why yahoo , of all tech companies, would be something that would intrigue him. Ah, buffett did help burger king takeover tim hortons. 5 billionion into Goldman Sachs. Does yahoo make sense in the context of those investments . Noah sure. Noah the way to look at this is its a financing arrangement. Berkshire has a huge balance sheet, and buffett brings his reputation to the table. It lens instant credibility to to buywho is trying another company. Because of that, he is usually able to get incredible terms, and its a way for him to put some of berkshires money to work for not so long and for some money. As you said, he is lending his name to this potential deal, and you have not been optimistic about the future of yahoo if you think about it as a Media Company as opposed to technology company, may be buffett has more experience making media bets buffett has marks parents making media bets, but he seems to think there is some hope here. Shira as no less said, i think this is more about backing dan gilbert then it is making an investment that on yahoo buffett doesnt make bad deals like this come even if you think back to the financial crisis. He invested in Companies Like bank of america, Goldman Sachs at distressed points in those companies history. Tonegotiates terms favorable him. I suspect a similar arrangement would be worked out where buffett gets his money back or gets some kind of dividend or some other kind of sweetener that an ordinary investor without his gravitas could never get. Likelihood of the this actually happening, and b, how quickly can we expect the sales process to proceed . Alex on the first point, we should note that this could be a footnote in history. This is not an actual investment yet. I still think verizon is the favorite to buy yahoo its possible that buffetts presents might boost verizon to pay out a little bit more. Away, i haveks heard. Its not days away. How many weeks, im not sure. At some point, there will be a will comefinal bids in, and likely at that point, verizon will have the opportunity to say yes or no. Verizon, the gilbert and buffett and private equity firms involved are the next level tier buyer. Emily alex sherman, shira ovide, and noah buyohor. Thank you all for weighing in. Looking at some of the filings of major investors, David Teppers shed his apple stock, while Bridgewater Associates cut its investment by two thirds. Carl icahn exited stakes in six companies, including apple, last month. Coming up, could didi chuxing be the first ridehailer to go public yet go we will break down on how breakdown how apples investment could pay off. Our next guest discusses why one city could snatch the title of the worlds most innovative tech hub in the near future. Emily to a story we are watching, Facebook Ceo Mark Zuckerberg has invited a group of conservative leaders for a meeting at the companys headquarters in menlo park. According to the associated press, attendees will include radio host glenn back, former White House Press secretary dana perino, and Donald Trump Campaign advisor barry bennett. This after reports that facebook employees are more involved in choosing stories for the trending topics section than we have been led to believe. Next contractor claimed facebook conservativey stories. Facebook responded by saying the trending topics section is governed mostly by algorithms, not humans. Trade association for publishers, 43 of social media users to know where the stories they read on facebook appeared, underscoring the power facebook has in shaping what we consider to be important news. Facebook has not confirmed Additional Details of the meeting. Turning to apple, tim cook twitter to make a public display of his latest investment. The apple ceo hailed a cab with didi chuxing in beijing, this after apple made its 1 billion investment in the company last week. It may not be long before apple can cash in on this investment. Ipo in targeting a u. S. 2017, but the timing will depend on the outcome of its battle for market share with uber in china. The latest funding round valued didi at 26 billion dollars, while uber comes in at 65 billion. Didi does have the china advantage. The Company Claims it controls 99 of the countrys mobilehailing market. Didi is denying these ipo claims. First of all, lets start on the ipo. What do we know . Report is from us, 2017, we could be considering an ipo in new york, depending on the competitive environment with uber. There is definitely some wiggle room. Emily didi has denied the report. Is still pretty speculative, but it sets up a timeframe for when we should be thinking about an ipo. Emily you just spent several weeks in china, and i know you use both services. What did you think . I think its pretty clear that there is one service that needs to work on quality a little bit. Does have some ways to go in terms of quality. Emily how so . Drivers arriving on time, knowing the city. Didi has a little bit more of an edge because they are supposedly paying higher wages, therefore getting drivers who know the city better. These are all telltale stories in beijing. People tell you where a lot of far away, androm, they come to the city for the first time. They dont really know the city. There is a lot of work to be done. Emily i was in beijing, and i used both services. I didnt see a huge difference, but i think if we had gone further out to the city edges, it probably would have been more difficult. What do you make of apples investment . Cyriac i think it is probably a smart move on apple to get into the chinese market. The service will benefit from it, as well as, we all know there is a Government Investment in china. N didi use got this situation where youve got a government investor, and youve got apple trying to get along with the government in china, as well. They are common investors in the same company, and then youve got this interesting trifecta of and 10 send an alibaba nd alibaba. Part,ompares to the didi which is apple and the Chinese Government. An interesting lineup. This is politics at a very high level. Emily when the president of didi was here, we asked about the relationship to the government and how open are to thes regulators idea of a car sharing service. The Chinese Government has been more and more open to us. The supply issue is the top issue in general. The Chinese Government understands, we need to utilize the existing resource to put into the system so people can travel. Emily chinas government has made it impossible for Companies Like facebook and twitter and google to succeed in china. Could they do the same thing to uber . Eric i think here there is a huge economic need to this when there is a lot of economic anxiety in china. That isan industry creating a lot of jobs. That is to ubers advantage. This isnt one of these critical industries. Its not a Media Company. Its about transportation. Wilbur sort of hopes it wont get categorized the same way facebook and other countries are. Emily as someone who has run a private company, do you think ori should go public in 2017 as soon as that, or should they continue to raise money . Cyriac i think it depends on their international plans, whether they only want to focus on china, or whether there are other markets. It also depends on, at some point, what is the financing need . They are supposedly burning, both of them, uber and didi, 1 billion a year. Cyriac they are both burning a lot of money. That is just in china for uber. Approaching ory going above 2 billion last year in losses. They are losing a lot of money. For uber, it is more than just china. Going to continue to discuss your trip to china with us after the break. Eric newcomer, thanks so much. Weeks, aafter three grilling 24 chinese s startups. Cyriac is back on the city that could steal Silicon Valleys reputation as tech hub. Emily on todays funding board, asias biggest Internet Company tensen is likely to raise as much 4 billion in a syndicated loan. Last month, the company hired banks to aim for a 1. 5 billion demand. Has seen strong the update highlights a theme among chinas internet giants. We have reported by do is loan, and 1 billion alibaba was seeking as much as 4 billion last month. These companies are taking advantage of the funding opportunities. To discuss chinas tech startup scene versus Silicon Valleys is Angel Investor cyriac rhoding. You were in beijing for three weeks. You talked to a lot of entrepreneurs. One thing peter thiel told me when he got back from china that he is scared of the chinese tech community, because he thinks there is so much power. Should we be afraid . Cyriac im not scared at all. I think its awesome. Can do foring we Silicon Valley is to get some impulse from the outside from time to time. Its important we dont become totally self absorbed and believe this is the only place in the world something is happening. When you go to china, go to beijing, you can sense the entrepreneurship in the air. What i loved about it and what i was inspired by was the openness, the friendliness, and i have to say, the raw authenticity of entrepreneurship. What entrepreneurship should be is to create something great out of almost nothing. Emily do you think it will be the next Silicon Valley or adjacent . Cyriac i think its a competitor. Im european by background, so it hurts me to say that, but i have to say i dont think there is any other place in the world besides beijing, not even china, that is a true competitor in the next decade to Silicon Valley. India might be the only contender, but what is going on in beijing is very impressive. The engineering talent from the twoto universities universities and the sheer amount of money available, and then the entrepreneurs and the hunger to move fast, and most importantly, there are 1. 3 billion people in china. Most of the argument is, they dont have the money to spend. What do you think about how many smartphones are in the United States . 190 million. In china today, 530 million. In three years from today, over 700 million. That group has enough money to have a smart phone. Most of them have never had Internet Access before they get a smartphone. Everything is new to them. They love it. Emily one of the guys making smart phones in china is hugo barra who used to work at google. You talked about your midnight meeting with hugo and the long hours that these entrepreneurs keep. We also had our own midnight meeting with hugo barra. You talk about work ethic, and its intense. Cyriac its intense. There is no worklife balance as we know it. 99sixsomething called in chinese startups. It means from 9 00 a. M. To 9 00 p. M. Six days a week. For founders, top executives, it is more like 9116. 5. Noother words, there is private life. Im not a defender or proponent of working like crazy. Who is a good leader when you are always tired and dont even know your kids . What is inspiring and impressive is the amount of hunger and dedication and drive that is behind that. That is great. Emily you do have one quick criticism, the get rich quick mentality. The most recent batch of entrepreneurs is driven by financial returns quickly, and that will not work when the next wave comes, which is innovationbased startups of verses cloning. You need to focus on other things that drive you, and that is coming out. So much for you joining us and sharing your travels. We will be talking about amazon upping the ante on private labels, putting the heat on bigbox retailers. Show me top new artist. Ah, ha ha. Show me top male artist. My whole belieber fan group. Its not a competition, but if it was i won. Xfinity x1 lets you access the greatest library of Billboard Music awards moments, simply by using your voice. The Billboard Music awards, live sunday may 22nd, 8 5 pacific, only on abc. Shery ahn lets start with a on news. U. S. Investigators are preparing a conclusion for a meeting tomorrow that the amtrak at the controls of a speeding train that derailed in philadelphia last year was distracted moments before the accident. That is according to two people briefed on the discussions who say they found no evidence of drugs or alcohol. Died, and more than 200 others were injured. After stalling for months, congress is ready to move on president obamas request for additional money to fight zika virus. The virus has been linked to serious earth defects and other health problems. House republicans released legislation to provide 620 2 million and a 1. 1 billion measure is expected to be endorsed by the senate tomorrow. A second judge has ruled to allow the extradition of el chapo to the u. S. The process awaits approval of mexicos foreign ministry. His lawyers can appeal, meaning it could take months for him to be tried in america. 100,000 laps around earth for the International Space station, which reached the orbital milestone earlier today after 17. 5 years. Nasa says those 100,000 orbits are akin to traveling more than 2. 6 billion miles. That is about 10 round trips to mars, almost one way to neptune. Dayal news 24 hours a powered by our journalists around the world. We are now joined by paul allen in sydney with a look at the markets. Good morning, paul. Paul it is looking like a pretty good day across the region after u. S. Equities as well. Gher, and oil, new zealand, currently the only market up and running, already up 0. 5 . We are expecting gains locally nikkei. Sx 200 and the is expecting a profit for the year of just under 8 billion, much worse than expected. Westpac banking shares will be interesting to watch in australia after the regulator released more details of its probe into the bank, accusing it of attempting to fix the Bank Bill Swap rate. This is australias equivalent of libor. Denies the allegations. Also out today, the reserve bank of australia minutes for the previous meeting. We will be looking for some more clues as to where we might be going in the future. I am paul allen for bloomberg tv in sydney, australia. Amazon is upping the ante, planning to roll out privatelylabeled goods across our range of categories, like perishable foods and Household Items like laundry detergent. These plans have been in the works for several years and could appear on the site by the beginning of june. Under brand names like happy belly and mama bear. How big could this business be for amazon, and what does it mean for the competition . Im joined by our editor at large cory john. Mark, i will start with you. Have you heard anything about this, and how big of a business could this become . Mark it has been building up for a few years. They had something called elements. Emily with baby wipes. Mark also with linens, pillowcases. Emily they also have a fashion line. It is one of their fastestgrowing businesses. They have had some history with this. The upside for amazon, its higher margins. Anything that brings margins up is a good thing, and extends the appeal of the prime service. Tose products are available prime subscribers. In the u. S. , there are about 50 million. Emily companies as big as walmart have their own private label brand. Its par for the course when you are a big real retailer. Y i think what is interesting, as mark mentions, its a lower margin for them, but maybe they dont take that margin. Maybe they have lower prices. This would allow them to gain market share. The risk with a private label is, are you offended the people for whom you are trying to sell their goods . Amazon has been in the drivers and one wonders if this might affect those relationships. Emily what about some other risks . With element, they plan to make diapers, but they pulled the diapers from the market. When you are making things like food, that carries additional responsibility, right . Mark there will be more product risk, but i like what you just said, cory. The famous quote attributed to jeff bezos is your margin is my opportunity. He could look at the margins that other white label companies have and take half of that and take the rest as lower prices. It would be classic amazon style. Yes, there is more product risk, but this company is pretty good at managing a lot of different operational risks. They will have a couple misses like fire phones, but generally, they have been right. Emily what does this mean for amazon vendors . Cory they gather so much data with the way their vendors sell stuff. They have been making lots of goods without any kind of label when they have seen opportunities for a lower price and to take some margin. The risk is that some of the sellers are going to get ticked off and pull their business or make the pricing a little bit higher. There together data. Think about tied soap. For other canisters of tied soap they have sold, they have learned so much about those customers. The people of Procter Gamble wont be thrilled about them making a competitive product. Emily what does amazon have on other competitors . Mark the problem is going to be, where are those other vendors going to go for liquidity . You could go to ebay, but last time i checked, they are showing no growth. There are very few brands that have that kind of pull to go directly to customers. Amazon is a lowcustomer Service Channel for retailers and manufacturers. The Amazon Customer is extremely well educated, and they are in and out. Emily could you hazard to guess as to how big in dollar terms this business could be . Mark a private white label business, we are doing 100 billion in sales annually. Its hard to know how much of this will be incremental. Its not like its going to draw away from thirdparty sales on amazon sites. Emily as a percentage of nantz, its a question of how many products they are going to launch. What is interesting is they are drawing a lot of products. Wonders, are they going to take a margin, or are they going to lower price and not take a margin . Is there a new philosophy happening at amazon . Are they going to continue to run retail on a noprofit basis . Emily any idea how successful amazon echo has been . Mark very successful in our household. Emily my son loves it. Way i think this is the into amazon fresh, into groceries. Its an extremely efficient Consumer Experience when you can have one of these in the kitchen andsay, alexa, order, then go through the list of what you want for your refrigerator. Emily when a threeyearold can ask a knock knock choke and get an answer at any time, thats a success. , mark mahaney, thank you both. Lets take a look at the Shifting Sands of health tech. Wireless carriers tried to get into the space, thinking a move towards telemedicine would open up new revenue streams. Instead, its tech china and sleeping into the space. Take a listen. The u. S. Telemedicine market could double in more than 30 years. Initially, the large telecoms companies, the likes of verizon and at t, were poised to benefit, but now, its apple and alphabetic who are deepening their investments. Alphabet uses technology to address existing disease. On a working with novartis smart contact lens that monitors glucose levels. Calico, another division of alphabet, is developing new drugs with much of its Research Focused on aging. Committed 153v million to help startups Health Startups in 2015. Apple is developing an ecosystem of health apps. Health kit comes preloaded on iphones, paring with fitness devices so users can monitor their data. Research kit enables iphone users to participate in large medical studies. These bets havent paid off yet, but we will be watching for when they do. Emily a news update twitter ,ust named deborah l. Lee chairman and ceo of the two networks, to its board. Lee has been ceo for more than a decade at viacom. She is the first africanamerican on twitters board. Lending club says it has received a grand jury subpoena from the u. S. Department of justice, lending club saying the company intends to cooperate with the doj in a regulatory filing. The company plunged 51 last week after the surprise departure of its ceo. Lending club stunned shareholders by announcing the founder had resigned after internal reviews. Coming up, googles annual Developers Conference is this week. Last week, we learned about marshmallow. Now we are looking for details about the newest operating system. Emily a legal battle between the managers of the harvardlinked venturecapital firm the x fund has entered a new phase. Hugo van buren is suing his partner for a breach of fiduciary duty, defamation, and fraud. Among the claims, van buren alleges that he amended files. I asked chung about the infighting in the x fund. The thing that happens in a lot of the firms we work with, when you are growing fast, things sometimes get broken. Its unfortunate the way things turned out. The good news is we are moving forward. On friday, the x funds chungs voted to allow to continue funding in startups. The busy week ahead in tech, i want to kick things off with google hosting its annual Developers Conference, google io. Ceo on the agenda, facebook Mark Zuckerberg will be hosting conservative leaders wednesday at the companys headquarters, discussing allegations that trend in articles were biased against rightleaning news. Salesforce will release Quarterly Earnings after the bell wednesday. Here with me to break it down, tom giles and jack clark, who covers google and cerebral salesforce. What are we expecting . Jack we are expecting Virtual Reality. The nickname of the new operating system, this one is n. Emily we are voting for nutella. To getere also going more on their Artificial Intelligence plans, how they plan to integrate that into products. Of virtualerms reality, what more are we expecting . I have tried google cardboard. It leaves a lot to be desired. Jack we are going to get more fleshed out strategy from them. We have been hearing talk that there is going to be its own dedicated headset. We are going to get Virtual Reality integrated into android, something beyond cardboard. We are getting a new headset from lenovo. A bit of anything and everything. Emily on to this meeting that facebooks Mark Zuckerberg is having with conservative leaders on wednesday, tom, that is quite a big step. To be reallye got careful about the message they are sending to their user base. This is everybody. Facebook is not a place where just conservatives or just liberals hang out. It is this melting pot that is very much a crosssection of the u. S. Think about the people you are friends with, people you knew in high school, but you may not have much in common anymore. Facebook has to be careful about any suggestion that they are not welcoming to a wide swath of views. Has notort from gizmodo been doing them any favors. Emily what do you make of the fact that Mark Zuckerberg himself is sending these invitations and presumably going to be at this meeting . He will be at the meeting from all outward appearances. It just underscores to him the urgency, and it also shows you saw this escalation. Report,ed out as this and the initial response was, no, this is automated. There is little human involvement. There was an update to that that showed there was more human involvement than you might have thought, and finally, Mark Zuckerberg comes out. In the midst of all of this, you have had conservative lawmakers weighing in. Mark zuckerberg is saying, we are going to take a look at this closely, which is indicating that maybe they didnt know what was going on. Tom he has taken a very personal involvement in it. Its hard to say how much he was is showing hes going to be personally involved. Emily what is the latest facebook is saying about human versus algorithm . Tom its a combination of the two. The statements show that there is very much a human element. Wednesday, facebook is going to it has been talked about in the conservative media as this padding on the head, and in no way can Mark Zuckerberg come across as condescending when he sits down with these conservative leaders. Emily salesforce, what are we expecting . Jack we are expected to hear far more about the cloud and more about the internet of , which has been a Big Initiative for them lately as they try to expand into new markets. Wednesday is a big day. We will be all over it. Thank you so much for giving us a preview. Our Bloomberg News reporter jack clark and executive tech editor tom giles. You can check out bloombergs full coverage of googles Developers Conference on wednesday. Cory johnson will be live from Mountain View with the latest, and for more of our best longform interviews, check out our studio one points zero studio 1. 0 podcast we will hear from peter thiel. Unsung cloud and itunes, check it out. Emily on this date in tech history 70 years ago, the world was introduced to a tape recording, which went on to shape the entire home media business. In 1946, jack mullin had attendees of the annual institute of radio engineers conference in San Francisco asking the question, is this live . M he switched between a live jazz combo and a recording, stunning the audience. Engineers learned about mullin and his magnetic phones. Bing crosby was the first performer to record a Radio Program on tape. The highestpaid female executives in the u. S. Hail from the tech sector. Or call Ceo Safra Catz came in racle ceo one, o safra catz came in as number one. Alphabets cfl ruth pour it follows her with a 4. 1 billion package. Dropping to number five after holding the top spot last year was apples retail chief, angela erin. She earned just under 28 million for 2015. Speaking of women in technology, facebook coo Sheryl Sandberg spoke publicly for the First Time Since her husbands unexpected death just over a year ago. Addressing the graduating class at the university of california berkeley, sandberg shared her moving story of hope, resilience, and finding gratitude in the face of loss. It is the greatest irony of my life that losing my husband helped me find deeper gratitude, gratitude for the kindness of my family, the love of my and the laughter of my children. My hope for you is you can find that gratitude, not just on the easy days like today, but on the hard days when you will need it. Daves death changed me in very profound ways. I learned about the depths of sadness and the brutality of that but i also learned when life sucks you under, you can kick against the bottom, find the surface, and breathe again. I am sharing this with you today on this day int your lives, with all the canntum and the joy, you learn and life the lessons i only learned in death, lessons about hope, about strength, and about the light within us that will not be extinguished. A moving speech and worth checking out the full thing online. I know it took her a lot of courage to do that. Sarah frier, our reporter who covers facebook, what was the mood like . My little brother was graduating, and i got to hear from him how powerful the speech was for everyone. Honestly, there were people crying in the audience, relating it to their own lives. This is a powerful message of resilience. How do you deal with the worst possible thing happening to you, and this is something that Sheryl Sandberg is actually considering turning into her second book, which would be an new storytelling of her life. In lean in, she was championing women in the workforce. She rallied a Global Community around that. This would be a story of resilience, teaching people to just figure out how to get through tragedy. Emily on that note, one of the themes i pulled out was her evolving stance on leaning in, which has become more complex now that she has had to go through this. She had a really moving post about single mothers on mothers day. I think its a significantly evolved message. Sarah i think she has definitely learn from having so many conversations with other challengesen about in their personal lives. I think lean in spark to this global conversation, and now she is having to deal with an aspect of balancing motherhood and work after losing her husband, which is just a completely different experience, and she wrote in lean in about how dave goldberg, her husband, was her rock, her person who really champion her decisions in the workplace. Emily i will be reading if indeed there is another book, but in another story you broke twitter will soon stop counting photos and links in its 140character limit for tweets. Links currently take up 23 characters. Me 15 minutes to write a tweet today that had a link and a photo, and i am so happy about this. Quickly, what does it mean . Sarah it means jack dorsey is trying to make the service easier for people to use. His is something i am seeing today at twitter, there was a lot of joy for this moment for people dont have to edit their tweets down. Finally. Sarah frier , thanks for that story and bringing us that good news. Thank you so much for joining us. That does it for this edition of. Loomberg west tomorrow, microsoft chairman John Thompson will be joining us to that is all today from San Francisco. Announcer from our studios in new york city, this is charlie rose. Charlie new developments this week in a fight against isis. Sunday, youthis will learn the identities of 15 americans who have joined up with the jihadis pair it is the latest investigation by richard engel. He is the chief correspondent for nbc news and a friend of this program. Take me to the beginning. Richard from the beginning, two months ago, in sthern turkey