Economy and eight Labor Department proposal to make salary workers eligible for overtime pay. Here is a look. President Obama Policies that cut education, help folks at the top, art expanding opportunity. Arent expanding opportunity. We need better policies. [applause] the bottom line is, topdown economics doesnt work. Middle class economics works. [cheers] president obama it works. [applause] president obama it works. And this is also a matter of values. Being an american is not about taking as much as you can from your neighbor before they take as much as they can from you. We are not just a bunch of individuals out here, on our own, we are a community, we are a family. We are all in this together. We all have to work hard. I was taking some photos hadwith ron and met a couple folks with diaairy farmers. Nobody works harder than farmers. They know hard work. [applause] farmers know about hard work. They wake up early. They go to bed late. They are worried all the time about making sure things run. But, they also understand about being neighbors and helping each other out. Thats american. Weve got to make sure that this economy works for everybody that is willing to work. Everybody that is willing to do their fair share. President obama in wisconsin earlier today. You can watch the entire speech around midnight here on cspan or anytime online at www. Cspan. Org. And gop president ial candidate rick perry talking about the economy today, saying he would do more to court black voters. He pointed out improved educational and Economic Opportunities while he was governor of texas. He says as president , he would boost the economy by reforming the tax code and forth tight budget on federal agencies. We will be showing his comments on cspan, or you can find them and watch them anytime on cspans video library. Also former virginia senator jim webb nothing he is running for president , joining the field challenging Hillary Clinton for the democratic nomination. There are now 14 republicans and five democrats in the race. Tomorrow, you can see all of the on camera announcements from the given candidates, starting with texas senator ted cruz, through new jersey governor chris christie, the most recent announcement, starting at 10 00 eastern on cspan. Next, some of the latest Tech Startups with innovators, Venture Capitalists, and members of the media. Part of the Techcrunch Disrupt conference, held in new york in may. I think to start off, you want to say a fewq words. Yes, i think it is awesome the way the Tech Community sticks together. The moment of silence for david is very appropriate. Here is a ceo who is a role model for all of Silicon Valley. Humble, a great leader, a great manager, but better than that, a great friend. Most important link, the father of two great kids. Like everyone here and in tech, i am sure we will keep cheryl and david and the kids in our thoughts and prayers. Everyone should do something nice today in honor of the david goldberg. Thank you. To kick off iyou wrote a post yesterday about why tech should be cynically engaged. Do you want to share . Civically engaged. Not just civically engaged, i think people should be engaged in all sorts of efforts to help shape the world that we live in. People in the Tech Industry often think that they do that with their work by making products, by making companies. But i think that increasingly, the technology and companies rebuild are impacting we build are impacting life in good ways and bad ways. I think it is important to understand those impacts and work with local governments work with philanthropy and other people who potentially can help mitigate those negative impacts. And there are negative impacts. What is so interesting i think about investments you were making. Some of the committees were purely software products. They are dealing with very obligated right areas like housing and transit. And jobs one of the things i see, for example when i talk to robotics ceos creating machines that make hamburgers or machines that can work with factories. I asked them about invocations for the job market. They give me this look like, yeah, thats really hard. Its going to be hard for the Education System and workforce. What do you think their responsibility is, when you have this much impact . I dont think it is just their responsibility. I think it is collectively the technology industrys responsibility to give back. Whether that is in terms of civic and moment civic involvement to help make changes that can potentially be better. We will talk more about it, but i think things like education and education reform things like housing, i think things like making sure that we have Internet Access for everybody things like that that can help create opportunity for everybody and a lifestyle that everybody can sustain are important issues. Technology is making these things harder, therefore we should work to try what does that engagement look like, though . Ron, you are a founder and then you should go find relevant people in the city government, or do you go through an organization like yours . I think you should do what suits your fancy, as long as you get engaged. 10 years ago, the Tech Community was a tiny percentage of any citys population. Today, the Technology Community is a much larger percentage of the population of the community. So tech, because of that, has got to get involved in the community. They are a huge piece of the community. In San Francisco, we started sf city which is basically the tech chamber of commerce of San Francisco. We had tax issues that we got resolved on the ballot. You moved from payroll to gross receipts. We got that behind us. And we said okay, lets do the next most important thing, which is civ engagement civic engagement. Volunteerism throughout San Francisco. Any tech company in San Francisco could adopt a school. The principal of the school would become ceo. That principle tells the tech workers, heres what i needed done in my school. Not us saying, you should do this and this. The principal says, i want you to monitor the kids when they leave school. I want you to help them read, whatever that is. When i talked to San Francisco district teachers, the fact that the district cannot pay them a living wage allows them to be able to have housing in San Francisco, that is not a thing that volatility that that volunteering necessarily helps. When you think about schools it has a well intended affect, but is it really a longterm solution . Circle the schools allows tech workers to get involved in it volunteerism. There are many other volunteer programs that other Tech Companies have started as well. The housing and income inequality issue are separate. You set a goal of thousand, one third of them 30,000 units one third of them for low income. When you look at Tech Industry leaders, what do you think their role should be in conversations . I think the first thing is that Tech Industry leaders have the ability to educate and inform Civic Leaders about important issues. A lot of these Civic Leaders dont see the things that we see coming. They are getting ahead of these issues in the way they should be. They dont care about them enough. If the Tech Industry can say heres what you can do in your schools, europe things you can do about ubiquitous broadband here are things you can do about trent rotation, transportation housing. At least local governments might start to make more enlightened investments and create more enlightened policies. The most important thing is getting into the conversation and educating them. When you look at new york citys workforce and you think about how the scale of the Tech Industry changes, its quite fast. Every year there are different linkages you need to know. Different languages you need to know. Think of workforce and develop it as two big pieces. It is the students in the Public School system and making sure you are teaching them skills that they need for this century versus last century. Then there is the Adult Education piece, retraining, taking someone who unfortunately didnt get that education growing up. The second one is harder. I think it is critical. You cant just wave off an entire generation. These your thing is k12. The easier thing is k12. New york city is doing a lot of interesting things there. The mayor is speaking today. I dont want to get in front of him on anything, so i wont be too specific. But because the Tech Industry is in tight dialogue with the mayor and his team, i think this administration can do a lot of good things in that regard. We want to talk to you about housing. It is an issue raised a lot for techcrunch. You know a lot more. I know. Its like every day i hear a crazy story. Theres a chart about a Planning Agency shared with me, 2 veterans has gone from 600 to 46,000 in 10 years. 46,000 to 26,000. Itss just wild. What is the city i look at 1020,000 people and i dont think it is enough. Not enough. Edley is ed lee is an unusual politician. He doesnt overcommit. 30,000 is a lot. Coming from zero to San Francisco was not addressing housing at all. Politician. At least he has planted a stake in the ground. This years goal is 5000 of the 30,000 units. And that will happen. He wants to meet the commitment. In addition to that however he is putting on a ballot measure on the November Ballot for a 250 million housing bond that, with leverage, will hopefully create another couple of thousand units for lowtomiddle income. This is important for School Teachers cops, firemen, but also entrylevel tech workers. They are faced with this very same issue. A lot of people make it sound like tech is unsympathetic to this. No, this is a huge issue for tech. For every engineer retired there are twfour entrylevel workers that have to have housing. Yes, we have to increase the 30,000, but at least we have a stake in the ground. How do you reconcile that tension in the market with it seems really hard. Is this the notion that it is replacing renters . I think there are a lot of underlying causes to the housing situation in california over many decades. I disagree with that. Even the Planning Department in San Francisco has released a statement that says, that an b b host would have to rent out 257 days a year in order to derive more income than adjust renting it out. Than just renting it out. The notion that b b is part of the problem is false. It is a conjured up argument that the opposition to b b and people that dont understand the sharing economy have come up up. Come up with. It bases it on the market rent, and that only applies to 10 of the Housing Stock in San Francisco. There are large swaths of people who are rentcontrolled painting way below what the median is. There is a Strong Financial pressure for them to be much more lucrative. Keep in mind b b got started in 2008 in the city of new york. The founders moved here during the financial crisis. This is where it got its initial growth and brand name. People in new york were going to be displaced and addicted from their homes and apartments if they couldnt augment their income. In San Francisco, the same thing has happened . We have elderly people, who if they were not renting out a room in their home, would be evicted from their home over not be able to afford it. Airbnb is contributing to certain cases what do you think about caps on the number of days that airbnb rooms should be rented out . I think it is a false ceiling. You think its a false cap. Why should the government be involved in that . Whenever the government gets involved in things, sopa a and others. You are telling us to get involved in the government. When i look at the regulatory processes in San Francisco the city is operating they or operating off of data that the new york State Government has subpoenaed. You dont have a lot of actual transparency into how large the short term rental market is in San Francisco. What do you think about data sharing . Once again, i think the government does not have a right to send in some of bureaucrat to examine the records of airbnbs hosts. We talk about the nsa now we have a municipality citing, municipality saying, we want to inspect the records of your host. Aggregate . It was aggregate and anonymized, maybe that was reasonable. But with this, they want every ounce of data about airbnb hosts. Just for context, it looks like airbnb will be on the ballot in november. It will be very interesting. Private companies should not be forced to hand over data about their users. That is an invasion of privacy. On the other hand, they did willingly hand over the data to a lot of these concerns about airbnb that are miss founded. Companies can use their data and actually actively share it to make clear to people that these fears they have about a service are unfounded. I would encourage companies to be proactive about sharing their data as much as possible. I understand the issues about revealing specific data about specific customers because then youve gotten in the way of a trust relationship between a company and customer, but the more that a company can disclose data on an anonymized aggregated basis, they can use that to make a specific case on doing some thing good or not. Airbnb has been disclosing, just in the last week they disclosed a whole bunch of new anonymized data about their impact in the market. Thats what youre touching on is a really interesting senstension. Its also playing out in los angeles. At these Companies Get very large, they have insight into things that affect public systems. For example sharing data with the city of los angeles was about helping understand how to mitigate or manage traffic. People were using the app to go on all these side drugs and neighborhoods these side roads and into neighborhoods. Is there a rule of thumb when you have a lot of data, you should collaborate with someone vs not . We would encourage our Portfolio Companies to be as public with their data as possible. However, wave can take an individual user and share that data with government. That user would feel their trust was violated. There is a limit to what companies can do without violating the trust that they have with their users. The more that they can be public with their data on an anonymized basis, where they are not counting any specific person, i think thats very lovable. Very valuable. One model you have been planning on is the 1 pledge model. Do you want to talk about what that is . I think its very exciting that the pledge 1 is teaming up with the Robin Hood Foundation in new york to lunch the 1 Pledge Campaign in new york. What that involves is a ceo commits 1 of the companys equity and 1 volunteer time. And if act if applicable, 1 of the companys product to polenta be. To philanthropy. This has been opted by google, yelp splunk, many other Tech Companies. We want to bring that whole campaign to the city of new york. That launches today. We can put our money where our mouth is. With volunteer ours and pledging 1 of equity. Once you go public, that 1 is what, indicate both in the case of yelp, it was half a million. The company decides what charities they want to donate that money to. It becomes part of the culture of the company. I have two ideas. One which the three of us discussed backstage. The attorneys who service the start of founders, whether that is gunderson or wilson or wh oever, there are lots of them, if they put thosis 1 founder stock to a foundation as an option that founders could select right at the beginning when they form their company you would see a lot more founders doing it. A lot of founders dont know how to do it, they are want to spend money or do paperwork. But this is something they can just add without any cost. That is a callout to the legal community. The second is that is a it is important that each city, Tech Community, create some kind of volunteerism system. The people who wants to volunteer know what the opportunities are to volunteer. A lot of problems people have with volunteering their 1 is that they dont know where they can use their skills to the highest advantage. For example going into schools and helping teach Computer Science is a pet project in mind. There are 34 programs in new york that do that. We still have problems getting enough Software Engineers to do that each year. That is because there are good systems like linkedin or indeed. Com to match people who have the skills with nonprofits and other calls based organizations. Causedbased organizations. The other thing we are doing for the adopting pledge 1 is acting asking all Venture Capital firms, when your company asks about pledging 1 equity, we endorse the 1 pledge. Why would they not to do that . We are just making sure. Many firms have already said yes yes yes. Thank you guys. Thank you. Alright, they keep yelling me to not stay to close to the stage. So you can all see me. Our next guest shes not gay, but she does take a huge