Transcripts For BLOOMBERG Bloomberg West 20160615 : vimarsan

BLOOMBERG Bloomberg West June 15, 2016

Described as a jihadi recruiter made a jihadi video after he fatally stabbed a Police Officer into his partner. He says i just killed a Police Officer into his wife. The couples threeyearold son was held hostage but the killer was oppositione research on donald trump. He and Hillary Clinton were targeted by russian spies. The news, 24 hours a day, powered by 2400 journalists and news bureaus around the world. I am mark hampton. Bloomberg west is next. Been mark crumpton. Is next. G west, emily this is bloomberg west live from the 2016 Bloomberg Technology conference in San Francisco, bringing together entrepreneurs, investors and Corporate Leaders around the globe with minds behind the gamechanging products, processes that will drive the next wave of innovation across the tech industry. We heard from a global founder, drew houston, the twitter share just a few of the voices today. But we will also be bringing you watched moments throughout the next hour. Stay tuned for much more coming up on this edition of bloomberg west. First, from its founding google has been at the heart of dysfunction in the tech industry. One of the way they help to at the heart of disruption in the tech industry. They help toys continue to drive change is through gb. They have made a range of Consumer Tech advances like uber. They are developing a portfolio in the Life Sciences debate. Joining me now on which industries look rife for disruption. Thank you for being with me today. Mark enters something interesting. Spacee intersection is a that is very rife. I am curious what you think of that. Youve invested heavily in biotechnology and you think about it so much. What do you think the impact on ai on bio will actually be . Completely underestimated. We have in thinking and talking about this for a number of years. A quick example. Around Machine Learning or ai. If you look at a product. And you can download. Thatll find every minute your of you. Even one you might not recognize your self. Likeu look at something neo antigens, which are a way to detect cancer, and you find that technology to the search of new diagnostic for cancer, it could revolutionize the entire health care industry. Emily you are investing in a company that has early diagnostics for cancer and may even identify it before it becomes cancer. I am curious about that. How do you handle things like overtesting . I mean, it seems like that should not be a problem. But the idea seems almost to extreme. It is likely biopsy companies. It has yet to work. But basically being able to detect cancer the moment you have it or even predicting it by sampling your blood, we do not have that capability at the we knowl challenges what we need to do to get there, and so i am very confident that this technology will exist and we hope we will be the developers on it. But we know it is a very highrisk proposition. Emily what about gene editing . At what point do we have to Start Talking about the ethical issues of this technology . It is never too early to talk about it. The reality is that we can edit jeans right now. Genes. We have invested in a number of companies. There is a flip side to that coin. There are scary things about new technology, fire could be scary because it could burn on your house but gene editing could be scary for all of the things you are imagining but at the same time it could be used to care with cysticdren fibrosis. I think the positives will far outweigh the negatives. Emily since we last spoke it has only gotten worse for sarin notes. Should they be running the company . That is up to the company. I do not know how it gets better from here. Emily do you think they could turn it around . I do not think there is any way to turn around. I do not think that the technology exists. Emily the Public Markets about been kind to the bio sector. I think the Public Markets are always wrong in the shortterm and right in the long term. If you look generally, the longterm prospects for biotech are strong. In andy sector, it falls out of favor. Be quite out of favor right now, but the reality is it will transform not only the length but the quality and duration of our lives. Emily tony fidel recently left unceremoniously. What went wrong and should we be worried about the future of ness . I would not be worried. I think it was reported unceremoniously, but how many successful founders still work at the Big Companies that hired them . Youtube, andf google is not there anymore. It is really shocking that tony decided to do something new and ness continues on. And will continue on. Emily is it the ideal to have a founder in the company . I do not know if it is the ideal. I think the reality is they are different leaders, different times. The ceo of google left and now there is another outstanding ceo. I think it depends. Emily speaking of the environment you are investors of uber. Uber just raise multibillions of dollars. I read about that. Emily emily raising billions of mark endres and and his firm just raise half 1 billion. Are we passed the idea of a downturn . Where are we . It is that old adage, the difference between a recession and a depression is a recession is when you are out of work and a depression is one i am out of work. It depends upon your point of view. They should always have an easy time of raising money as long as they are successful so it does not show me. Shock me. Uber raised a lot of money and has been an extremely successful company. Emily are there other companies that are getting left behind . Companies rather than raising money on what they might do, will be raising money on what they have done. Iposill probably see more over the next few months. It has essentially been zero over the past 10 months. Emily there is a president ial election happening now, and i am curious what you think Hillary Clinton and donald trump mean for Silicon Valley . That is a good question. I am not superpolitical. I hope that whichever leader which is collectively becomes a lot more thoughtful about the issues and less headlinegrabbing and more leadership. And, i am not convinced that we are at that place yet. Emily what do you mean . I think we all need to get involved, informed on the issues. There are some really important and tragic things going on in the world right now, and we need to be informed about those things. Just bigger online and that yellowed each other over facebook or twitter but instead actually look at the plans and proposals and decide what makes sense for you and your family and your life and your friends. And at least vote. Maybe, do more than that. Emily gv ceo, always great to have you on the show. Thank you for stopping by. Microsoft acquired linkedin. We asked those to speak on this. Listen in. I see this as an opportunity for microsoft to expand. It will depend a lot upon the of how much is it integrated and how much is it not. The trick is, can you encourage them to keep its own culture and, you know, still get some benefits . Because obviously, people, if they never talk to anyone at microsoft, what is the point . Right . That balance is tricky. Microsoft might even take bigger risks as opposed to being a come a Public Company that needs to report quarterly. Teamnk that the linkedin can really think now is the time to really take bigger risks. Emily coming up, the legendary bc aiming for infinity and beyond. The futuristic funding of the space energy, next. Twitter is going to be just fine. Our indepth conversation with the venture capitalist later this evening. We are live at the bloomberg conference in San Francisco. Emily this is a special edition of bloomberg west, live at the Bloomberg Technology conference where we have been speaking with the biggest names in Silicon Valley. One thing we are watching, the private Equity Centers making it to the final round of buying yahoo . This according to the people familiar with the matter. They say it is between 5 billion and 6 billion. Verizon, at t and quicken loans founder dan gilbert are also in the running. A winning bidder could be chosen next month. Now, to the final frontier. It is becoming routine for elon to land a rocket on a barge in the middle of the ocean. The next test is wednesday. This is to slash because when millions of dollars and unlike our access for others to follow in his direction. Another space start up for the planet to is trying to do for the satellite business was spacex is doing for rockets. They are trying to track things like illegal deforestation or the growth of refugee camps. Both linux and lannett are backed by legendary investors steve jarvis in the very good friend of elon musk. He joins is now here. Thank you so much for coming to the conference, steve. It sounds really cool, but tell me to business piece. How does this company make money over the long term . When you can scan the entire planet every day and see every part, every day, there is a lot of customers that would pay for the imagery, largely the agricultural sector, national services. They want to monitor the earth. They want to know how crops are doing. They want to measure growth and see where things are heading. It they want to know how crops are doing, in the future that will grow dramatically when you have all of the data, not just where you are pointing satellites, being able to count every car in every parking lot, or as they plan to do, plan to every tree on the planet every single day for environmental monitoring. Emily there is a company that is not been kind by the Public Markets. They are attached to the International Space station which is kind of a deadend in the long run. You have a single camera and that is not much you can do with it. In contrast, we have launched 130 satellites and they will be launching several hundred more this year. They are kind of like the internet to a mainframe. There are swarms of satellites around the planet. Emily spacex has had a string of successful launches lately and they are planning their first reusable launch. Tell me about that plan. It is the most important plan. Imagine after everyone way flight of the airplane, flying from here to europe, the airplane flying back, it would cost you many hundreds of billions of dollars to fly anywhere. That is what is happening to the rocket industry. If we could use a reusable rocket, it would be like air flight, inexpensive as air flight. That is exactly what spacex is doing by taking an enormous piece of equipment and find it flying it many times. Emily who do you think is the biggest competition . China and russia. They have an interesting Tourism Business which is going up and falling back down. It takes 25 more times energy to get into orbit. That is a different business. Emily things have gotten worse outside for the company. What kind of conversations are you having . I am interested in seeing Jennifer Lawrence player in the upcoming movie. It is a kind of hunger games we can all look forward to. Emily i am excited to see the movie as well. Bill mirus does not think there is hope. Is there . I cannot talk about that. She had big dreams and we are wishing her an oscar as well but we are not in the position to comment. Emily are we living in somebody elses simulation . Elon musk said there is a one in a billion chance that we are living in someone elses reality. We have heard from others. What do you think . I think it is a fascinating subject, one of the deep philosophical subjects for anyone studying science fiction. I have had a lot of conversations with elon over the years and there is something that we have a limit to our ability to explore the world come of the other Solar Systems of our universe the way a game designer when designer, that we will never get there in our lifetime. If you look at these smaller and smaller scales, there is a fundamental limit to studying our world. Why is that . Maybe because we live in a simulation. That is about as far as the proof goes. Emily you have spoke to elon about this over the years. Where do you agree with and where you disagree . Everything in our world is a computation. A form of mathematical complexity. Whether you think of the world or you think of the world is fractal. Everything is a mathematical construct. Everything is exchangeable as a simulation. May bemmersed in what different than living in a single reality. That is where the philosophical questions come into play when you think about virtual reality. How does your brain that know anything other than what is being put into it . Emily does it matter . It might. It certainly motivates people with latenight conversations. Emily miller said if we are living in a simulation, we can turn it off and we realize were living in a simulation. Thank you as always for stopping by. I appreciate you joining us. Said that is when neil breaks out of the matrix, right . Emily up next, was the microsoftlinkedin deal just because of the iceberg . We are live from the Bloomberg Technology conference here in San Francisco. Stay with us. Emily this is a special edition live from the Bloomberg Technology conference in San Francisco. We caught up with Marc Andreessen earlier today. I asked about the current state of Silicon Valley and Companies Like twitter. What is its future . Take a listen. Casenkedin is a great study. I remember linkedin, i was lucky enough to be an angel investor. Somebody is going to need to use linkedin to find a new job. [laughter] is so, it was not that long ago, 2004, 2005. They built an Amazing Company over the last 12 years. I will say, it is eliminate a lot of the guesswork on what these companies are worth. Nobody pays 25 billion in cash for them and it is the result of an enormous amount of effort. It is a great business, great service. It has a lot of overlap with microsoft strategically because the window user base are effectively the same user base. I think they will be able to bring those together really interestingly. Emily how does it change the landscape . I think it is indicative of what is happening. As we see more mma in the pipeline, we see more negotiation and we have in four years. I think other agencies but agree with that. I think what is happens is one of the things or the markets have flow. A lot of Public Companies have kind of sat back and watched and watched all of the drama play out in the valley, constantly on the bubble, bubble, bubble. There is a lot that should have happened that just did not happen. Most Big Tech Companies have piled up a lot of cash and have had very Good Business and then have to start shopping. You have to fill in gaps in their portfolio and then they can go shopping, they can buy these companies. I think it is indicative of Many Companies this day. I think there will be a whole lot of these next year and this year. Emily who is going to buy and it was going to get bought . I think that is a good question everyone has to deal with. We try to get them in a position where they can be a buyer. Sometimes, you know, you get some of the comes along and makes you an offer and it is strategic and make sense. American Tech Companies are in a good position to buy. We are seeing a lot more nontraditional buyers, so a lot more of the fortune 500 outsider tax that are going techs that are going shopping, the car industry was quite inquisitive and other kind of Consumer Products Companies Got inquisitive, clothing companies. There will be a run of acquisitions with nontraditional buyers. Emily twitter, is that Wishful Thinking . A big part of how we think about a business is the new york alto arbitrage. I think the new york view is that if we think it is bought, it makes what are more likely to get bought. There is probably one fewer buyer. The acquisition of twitter is slightly less likely, but i am positive they are Big Companies thinking about it and positive twitter is thinking about it. Emily twitter is now the only other public social network aside from facebook. Can twitter survive . Twitter can survive. It has an amazing accomplishment over the last 12 years, building up assets. They have built a great business. There is no question. They can generate profit anytime they want. It is just a question on how they want to turn the dials to make it all work. They have a strategy to do a lot of new things. I think they can survive just fine. They can be around indefinitely. Think the question more is, Tech Companies are a little bit like sharks. They tend to move forward or backwards, tend to not stay still. I think the question of twitter that people are asking is, ok, under his leadership what are the new things they are going to do . Emily Marc Andreessen. How well tech change the future of combat . That is next. If you like bloomberg, you can listen on the bloomberg app. It was more a psychological factor of seeing the 616. We are looking at dollars, obviously. We have seen a little bit of strengthening in the chinese currency. It does not seem like a lot in the greater scheme of things. , more oryou back to less, a 5. 5 level low. We will have a look at where we are overall. Picture. He asian equities at the moment, i emphasize this, fourday losing streak. Exactly 24 hours, roughly to the boj. Well see how that pans out. A big day. A big day for markets here in asia. Emily net this is a special liveon of bloomberg west at from a San Francisco.

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