They said they reached a deal with the Pharma Company to protect hundreds of spanish athletes. York, i am Mark Crumpton. Emily i am emily chang and this is bloomberg west. The japanese messaging app would like to make its mark. The. Could. Deliver the biggest tech ipo of the year. Clinching the nomination. Hillary clinton is 28 delegates shy of clinching the nomination but there are signs that california may be feeling the bern. Mostome of googles promising moonshots maybe hatched in its Life Sciences unit. Our lead. Just when you thought the tech ipo pipeline was dried up, the japanese messaging app is aiming for what could be the biggest tech exit of the year. The on demand meal kit startup, blue apron, is said to be taking its first steps toward an ipo. Thansiness has raised more 100 million in a tech ipo this year. Ceo david is our guest for the hour and alex barinka joins us with more. Lets talk about line. A coupleinally filed years ago at a potential 9 billion valuation. Back then, the ipo did not go through. They are taking a different approach and looking at dual lists according to our sources. Looking to raise 1 billion to 2 billion. They have seen some slowdown in their business which you can see in the read through and that change in valuation. It seems they are now ready to take those steps via Public Company and get the capital that would come from this kind of listing. Talked aboutas expanding outside into new markets like indonesia. The majority comes outside native japan. They have some Growth Prospects that they are eyeing that this capital could help them achieve. As i understand it they have about 200,000 monthly users but user growth has stalled even though they say they are profitable. Do still see revenue growing at 40 last year from the year before. Pointle numbers i will out is that line makes about 5. 10 per user. When you look at what u. S. Investors will compare them to it is twitter who makes 7. 27 per user. Or facebook and makes 11. 27 per user. They are not making quite as much on the user. That would be one of the pain points. They have talked about the fact that ad sales only make about one third of the revenue so they are looking to potentially push likeout and make up facebook and twitter, it is upwards of the majority of the revenue for those companies. That could be where theyre are looking to grow dollars even if the user growth has stalled. Emily some of it comes in content and games, also digital sectors digital stickers provide Something Like 20 . Be an iponk line will that other companies will watch or is this too unique . I think they are a unique company. Pioneered many of the techniques these other companies are using, particularly stickers. They are morethey are more likea company and a content company. One of the interesting things about the ads that they do sell is that they generally forswear targeting. They try to be more the ally of the user and they are getting a lot of revenue from celebrities and brands whom they give access to their user. It was age live as if friend. In japan, they are an amazing brand with unbelievable strength as a company. I think it will be a company that is decent for the long run and i do not think it is crazy they are going public. Whether it will portend to other ipos, i dont know. Emily what do you find out . My colleague reported that bloomberg has held talks with bankers to discuss the potential plans of going public in the next month. Valuationuld mean a of about 3 billion publicly. What this really communicates to of techn this dearth ipos remember, blue apron is profitable, are starting to look to that ipo exit route as something they would consider. We have seen a lot of the larger unicorns top the brakes when it comes to going public. Its good news for my market but there ish blue apron, some activity starting to happen with what has been a slow year for tech ipos. Emily David Kirkpatrick, tech economy ceo. The ceo of adam factory has been contracted by spotify to help land exclusive deals with artists and new content. You may know him from lady gaga or john legend or as Investor Companies like bloomberg, or dropbox. Where i have been times had to get on the phone with really big managers who had big clients and tell them what the downside was for them leaving their product off of spotify. All of the music is Still Services on the piracy for free. Youre missing out in the big artist and you are ignoring the future. That was for my interview with troy carter toward the end of last year. It is decision time for california and what could be a make or break vote from Bernie Sanders. Well focus on where their allegiance lies in the race for u. S. Resident next. Emily now to a stray we been following, swift boaters have soundly rejected a plan for universal basic income or a guaranteed Monthly Payment for the government from the government for all citizens. Under the proposal every adult citizen wouldve received a monthly check for 2500 swiss francs. The theory of universal basic income is a form of Social Security in which all citizens get a Monthly Payment whether or not they work. Switzerland is the first country universal income. Bernie sanders says he is sympathetic to the theory but stops well short of advocating it. And Hillary Clinton is just 28 delegates short of the 2283 needed to be the president ial democratic nominee this ahead of tuesdays primaries in new jersey and california. In Silicon ValleyBernie Sanders is the favorite raising more than double that of secretary clinton. Downme now to help break the text and son tuesdays important primary details. The Political Data technology company. Still with me is david hat trick in new york. So Bernie Sanders is by far is David Kirkpatrick in new york. Bernie sanders is by far the favorite in Silicon Valley. Hes doing really well in the tech area. The people who build the Tech Companies we all use, google and apple. Ofn you look at the profile people who work in tech, they are very liberal. Giver company, we politicians a score. If you look at the average political leanings, they are roughly in line with Bernie Sanders. They are much more to the left than Hillary Clinton. Would you say this california primary is make or break for sanders but not for Hillary Clinton . There is the money race and in california Bernie Sanders is doing well but the one that really matters is the delegate race. That is what she is focused on. It looks like she is very much on track for that. Those behind Bernie Sanders would like the movement to go on, irrespective of what happens in that mathematical situation about the delegates. We know he had planned a fundraiser last week which he canceled but then said he is that endorsing either candidate but just once to engage with all of them. To put it in terms of donald himself, he is doing very poorly in Silicon Valley. Very small numbers of donors. Think in the low 50s in terms of the actual numbers. The overall sums he has raised our paltry. 25 thousand dollars or something, compared to the 6 million that bernie has raised from the tech sector. On the one hand you have investors like peter thiel who are actual delegates for donald trump and then Mark Andreessen who calls himself a conservative and as i understand it is now supporting Hillary Clinton. That doesnt surprise me much viewsthat many of trumps are not truly conservative or liberal. Outre just trumped in, there in another land of thought selfabsorption that really doesnt have much to do with anything including the countrys future in many ways. I do think one thing about Technology Just like every industry. They do want to be on the winning side. Industries hedge their bets on it comes other political giving particularly at the leadership level. If it were to seem like trump were really going to win. I think a number of Silicon Valley leaders would probably start reluctantly sidling up closer to him. I think its looking less and less likely and that is the prayer of almost everybody out there as the donation numbers show. What other trends in front raising have you seen including in Venture Capital. I know that google gives by far the most of any other company in technology. Look atnd you have to not just the National Picture but the important thing for us to scrutinize is what is going on lower down the ballot . A lot of the decisions that affect lower competitions affect not in state legislatures. The amount of lobbying going on down there and the fundraising going into offices that doesnt get the scrutiny we apply to the president ial race is really increasing and that is an area where for the health of our democracy we need to pay a lot more attention. And 2012, Silicon Valley give 29. 2 million to candidates in the election. This year. 9 million will it pick up . It usually does. What you often see is there is a massive spike right in the end. You can expect to see that again. The other point that is interesting is up until now, in terms of the donations in the cycle. The republicans are slightly ahead. At thats all coming from very small number of very big donors. People like Larry Ellison who supported marco rubio with a big donation. It doesnt reflect the people who work in the industry but there are still those leaders who have a conservative point of view and have been backing during the primary republican candidates other than donald trump. I wanted to ask steve if he felt that there was true antipathy toward trump or even what i said before about people surrendering if he seems to be winning might not happen. One of the things that is so interesting is there are a lot of really heavily principled people. Like Mark Andreessen or peter thiel. Until he is you think that many of these people might turn out to really actively working against trump. Im not talking more about the top leaders but what the bernie people will do is an interesting question. Such annk there is interesting combination of ideological positions here that there are many things that trump argues. The need to being come petition to certain sectors and his attack on the corruption and bigmoney impact in politics that are very similar to what sanders says and have some kind of appeal to the Silicon Valley decentralizing power and disrupting the traditional ways of doing things. Its difficult to pin any of these candidates down. Emily do you think that sanders support will shift to clinton and Silicon Valley . A think it is a loyal democratic place but watch out for the role of the sanders people in supporting candidates and future races beyond this one in 20 18 and 2020 as it looks to build his movement. Steve hilton great to have you on the show. We will see what happens tomorrow. Coming up, a rare glimpse at one of alphabets secretive other bets. The executive in charge of the life science projects with a breakthrough in science tech. Emily last august, google took the first real steps toward introducing wall street to its secretive moon shots. Since then we have learned that the Life Sciences unit is one of the most promising breakouts. It brought in almost half a billion dollars in sales in the Fourth Quarter leading some analysts to suggest that googles next big Success Story were let necessarily be the self driving car but a biotech breakthrough. Joining us now for more on what they have been working on is the chief medical officer, our guest host David Kirkpatrick with us from new york. If the most promising moonshot comes out of verily, what might it be . Thank you for having me here in San Francisco and for the invitation. I am a physician at a think about ways of using technology to make patient lives happier and healthier. One area that may be in diabetes. Patients and to check their blood clue close many times per day so we are working on ways to come up with ways of checking glucose providing information quickly. How can we actually make someone a betterh the day and place. Thats an area where we have been spending a lot of time focusing. Youre working on smart context lenses and smart food for parkinsons patients. Nano particle pills that could identify cancer or heart attacks before they happen. You have a shout out on the Earnings Call for driving revenue. One of the most revenuedriving what are the most revenuedriving projects . This is an area ripe for innovation so areas like diabetes and you mentioned some of our key partnerships whether it is with xcom we have a partnership right now with said no fee and we also have one in the space of surgical robotics with johnson johnson. These are areas we think are right for innovation. York, curious here in new is it products and revenue that is your top priority because looking at the website it sounds a lot like making people healthier is a big heart of it and obviously google has tertiary ways of making money. Im curious if it is all about products or if there is a more vague mission of working toward human health broadly . It really is about human health. The way that i think about the products are the means of what it means to be healthy, what it means to have a diagnosis or a disease. If you think about the product that they help someone understand their glucose levels, this is a way to help them manage their health. A sonic Product Company but a Company Really focus focused on trying to shift the needle. Is that necessarily going to be tied to products and revenue to feel you have succeeded . We feel that we have a very missiondriven company. , the idea ofned coming up with services that can help people is at the heart of what we do. We are a wholly owned subsidiary of alphabet. Emily do you raise money on your own or do you get it from alpha that . Alphabet . We are wellfunded. We have other collaborations, stanford and duke are some of our partners. We are in a position to take on challenges that are bigger than what some companies would be able to do. So aside from the funding we have a whole portfolio. There are a number of things were hoping to work on that will change care in the next year. But youre able to do things that may have we have a time horizon that requires rigorous science and the right settings. And i know how long it takes to make a difference. It allows us to take that kind of investment. Emily we have seen some hot biotech startups go wrong this year. What have you learned from that experience about managing expectations of the public . Three key messages. Scientific rigor will always be at the core of what we do. Building teams of engineers and we have scientists, some like tom ansell. We have many individuals the third thing is to work toward transparency. If we can work on these key things we can do something different. Things a lot of people do not understand is the degree to which Information Technology and Data Analytics are putting lifesciences progress on steroids. It is something we have talked a lot about at my company. Could you explain how that is happening and why it makes so much sense that google is in this business . By my analysis, it really does. What i can say is that patients and doctors have a tremendous amount of information coming at them. Google has a responsibility and alphabet has a responsibility to take some of the same tools that help organize information that comes to patients and make it deliverable. Make it something that patients can access. To make this as easy as possible and i do think there are companies in a unique position to do that. Emily thank you for joining us today. Dorsey says hek is making safety atop priority. How exactly will he go about reining in Online Harassment . If you like Bloomberg News, check us out on the radio. You can listen on the bloomberg app, bloomberg. Com, and unserious xm. And on sirius xm. E i am Mark Crumpton youre watching bloomberg west. Hillary clinton goes into tuesdays california primary needing just 23 more delegates to clinch the nomination according to the associated press. Thats as california, new jersey, and for true other states go to the polls. A baltimore cop charged in the death of freddie gray goes before a judge. Driver was grossly negligent when he failed to buckle him into a seatbelt and call the medic for help. The white house says the president will head to polling july 7 for his fifth and final nato summit and will at a stop in spain. In france, insurance executives are meeting with government officials to assess costs of the flooding is the same river receives from its highest level in four decades. Twotime nba m. V. P. Steph curry says he has withdrawn from consideration way for the u. S. Olympic Basketball Team in rio. He says he decided to pull out for several factors including recent ankle and knee injuries. Paul allen joins me with a look at the market. Good morning. Good morning mac. It is expected to be a reasonably good day across the asiapacific. Modestly right now. The k futures are indicating modest rises. Particularly on the commodity