tv Bloomberg West Bloomberg September 14, 2015 4:30pm-5:01pm EDT
emily: investors grow even more cautious about china's economy, but -- but could its growing internet industry give beijing a much-needed boost? i'm emily chang and this is "lumber west." alibaba fights back against the critical article. want to build a self driving car? tom-tom says no problem. and preparing to take san francisco with dreamforce.
china stocks slumping the most in three weeks. industrial output rose in august that -- but fell short of estimates. it increased at the slowest pace since the year 2000. all of this ahead of the chinese president's first state visit to the united states and the big tex summit in seattle organized by the chinese government. joining me to talk about all of this is carmen chang and matthew prince. a jointannounced venture with bart. you have announced this big partnership with baidu and you guys don't even operate in china. have theher hand, you ceo saying everyone is underestimating the capacity of the internet boom in china and don't understand the online to off-line world. there are 700 million
internet users or one out of every four internet users is in china. we recognize it was a market our customers cared about and chinese consumers wanted to be able to access other companies around the world. so when they were providing their security services to companies ranging from small businesses to fortune 50 organizations, china was top of mind in this partnership allows us to ensure internet will be faster and safer inside china. emily: you liaise with a lot of chinese companies. how worried are you about these broader concerns about a chinese economic slowdown? carmen: i feel when we look at china, there's tremendous excitement and i feel in many ways the prospects for china where people had very high expectations and i think now,
people are very worried. i think there will be some slowdowns that i don't think it is going to be any kind of major disruption. market there is some correction going on which i think is a positive step. i'm really not that worried about the situation. how theell me partnership works. you call it a virtual joint doesre because cloudflare not operate in china. but the website will load more quickly in china which means it could be a boon to foreign companies. matthew: to give you some sense, we saved over 240 years worth of time that chinese internet users would have spent waiting for websites to load. emily: having lived in china, that is a lot of time saved. matthew: if you went back that
are, this united states would not even exist as a country 240 years ago. what is remarkable is we worked with high due to allow our customers to be announced inside china but we have done it in such a way that the personal, private data, the secrets of those companies and passwords are never shared inside mainland china. has no operations in china but we have this unified plot from that can ensure performance security and availability now matter where your customers are in the world. like the chinese government is only restricting the internet even more. facebook is still blocked in china and twitter is still blocked in china. but it is even difficult to access gmail in china. what do you think about this tech summit with the chinese president?
what kind of concrete progress will we see? will facebook be unblocked or are those things just never going to happen? about: i'm optimistic what is happening right now. google isw, i think returning to the chinese market facebook is still engaged in discussions and i'm quite optimistic. this summit in seattle is a good opportunity for people from china, four people from the u.s. anda lot of u.s. ceos government representatives will be there. it will be a good opportunity for everyone to be able to get together and talk about the possibilities. if we look at what cloudflare
has been able to do, i am optimistic that during this next time, we'll see more efforts like cloud flare which will succeed in enabling u.s. companies to be in china. i appreciate your optimism but i have spoken to a number of experts on the opposite side who say facebook is not going to be unblocked in china a time soon. matthew: when we were approaching china, we came at it from a perspective that china is going to run their network the rate -- the way they run it and we may agree or disagree but we have not taken the position as a tech company here in san francisco that we can dictate how china runs their network. instead, we said what percentage of our customers are nonproblematic in china and the
answer is about 99% of our customers are nonproblematic. -- that allowed us to say how can we make the internet better for that 99%? there's a lot of discussion that has to happen around that 1%, but for the vast majority of the internet, things work very well. thank you for joining us. we will be watching that summit in seattle next week. a stock we are watching -- alibaba. shares tumbling after an article suggested the company may lose another 50% of its value. alibaba shot back saying the article is inaccurate and misleading. nintendo has named their new company president. he will be replacing the late satoru iwata.
i want a left some big shoes to fill. under his guidance, nintendo had massive hits with pokemon and others. president of nintendo for 13 years. coming up, the cofounder of tom-tom tells us how it will be at the forefront of the driverless car future. plus more than 150,000 people are headed to san francisco for dreamforce conference. what to expect, next. ♪
emily: twitter says it is adopting relay to make it easier to buy products in a link. , home depot and old navy are working with twitter on this initiative. twitter says expect more e-commerce announcements in the coming weeks. since been over a decade tom-tom launched its first mass market gps device. but after quickly dominating the market, google maps came along and made navigation more personal and free. today i'm unveiled new technology that would help in the development of driverless cars. that cofounder joins me here in the studio. as we were talking about self isving cars, i wonder what
tom-tom postural in that revolution would be. corinne: we have been investing in that technology and we just announced 3-d maps. we are ahead of the competition and we are working with most car manufacturers around the world to bring this technology to make it a reality. emily: are you built into cars? corinne: we are built into cars and work with a lot of manufacturers around the world. with volkswagen, we drove driverless from las vegas to los angeles powered by tomtom maps. emily: will we'll -- will we see maps in apple cars anytime soon? there are less than a handful of
players in this space and it is usually -- it is usually valuable technology. have you guys received any interested buyers? corinne: they are of course very valuable assets. i think will think of partnering with a lot of people. emily: have you considered selling? corinne: i think having these assets and having invested for all those years, i think we are right happy to be in the position where we are. emily: why do you think tomtom would be more successful as an independent company? is well our technology developed and a lot of companies around the world and car made factors we can work with. emily: how do you see your self expanding?
would you consider taking on minority investors who can help making tomtom even bigger than it is today? corinne: we do a lot on the consumer electronics site. andust launched a new watch activity tracking, we launched and action cam. we have a lot of different developments. the map is still the big radical innovation. emily: how do you see improving on the map as we see them now eschew mark what is the future of mapping technology other than where you can find it? you need real-time mapping data and the world is changing all the time. you need technology that allows the map to change as the road changes and it is very complex to do. emily: in five years, where is tomtom? corinne: one of the biggest
partners with carmakers to work with the autonomous driving plan. emily: thank you so much for joining us today. has tapped and auto industry executive to lead his driverless car project. he was most recently president of true car and led sunday's -- led hyundai's u.s. operations. google said the company does not plan to manufacture its own cars. to dreamforce -- salesforce 's annual conference which will take place at a few blocks from here in san francisco. i will be there. the conference has grown from a small group building a -- filling a ballroom to over
150,000 attendees. so with all the work that goes into planning an event like expect?ce, what can we weekusly this is a huge for you. what are you most looking forward to? guest: we are so excited because dreamforce is the largest sales conference on the planet. we have 160,000 people registered to attend. this is going to be the biggest and best yet and we are bringing in a cruise ship this year. it's all about innovation, fun and giving back. it is our largest investment we make and customer success and it is the four best days ever. there why is sasha della
and the new ceo of cisco who i will be speaking to? lynn: everyone wants to come to dreamforce because it is the epicenter of innovation. , weave incredible speakers have the ceo of youtube and we have incredible women pioneers and trail blazers. we have world championship sports teams. after three days of intense product innovation and business, we have a man: this -- we have a mindfulness day. going to be an amazing, amazing four days. you have people from hollywood there like goldie hawn. be speaking with an actor from "entourage." salesforce's to
objectives, every year, they talk about some big trend. what is it here? lynn: people come to dreamforce to hear about what is next. we're talking about cloud and the internet of things. you have to come to the main keynote. we have marc benioff with incredible special guests. much -- we have over 2000 customers sharing their success stories. emily: everyone knows mobile, cloud and social, but how do they execute and make their companies the future? lynn: they can come to dreamforce and learn. we're going to have 10 million people watching life, so you can watch online. this is a place not just for salesforce to talk about what is next, but we have customers and partners and incredible speakers.
it is the place for innovation and a place to talk about where is the future? every year, i look forward to marc benioff. he is a force. incredibleve some surprise guests as well. and we are doing the world's largest book drive this year. we are going to raise a million dollars and i brought some of my favorite looks for you to bring and make the donation. emily: i should probably bring some of my own books. thank you so much. up, michelle phan's start at just raise $100 million in funding. what does the subscription next? and plans for iphones from china. that's coming up.
emily: time now for our daily ate, one number that tells lot. today's imris 10 million. that's how many iphones apple needs to make its first weekend if it wants to break last year's record. they willy claims break 2014's record sales. analysts predict sales of as many as 13 million units. thatis the first year china is one of the country to sell its smartphone at its introduction. psy started its -- michelle phan became famous for her
theup tutorials and created company in 2011. they mail a beauty products once a month for a $10 fee. so what are they planning to do with its funding? is jennifer goldfarb. the most you raised rigorously three million -- dollars to $100 million -- how you attract that kind of investment? i think what our investors saw was that we were disrupting a very established, large, attractive industry which is the beauty industry. as part of doing that, it's such a big industry that we need and bugle toow grow versus our competitors in the industry. jessica alba just started
her own subscription service. what's so great about ipsy? guest: there are five ute products every month and this is working with michelle and our content creators who work out of our studios to create beautiful and educational content on how to use the products that you get. you get $50 worth of stuff for $10, but how much a cup to people really need? how long our customers sticking around once they sign up? are staying around for a long time because they enjoy the experience. part of that is just a gift for yourself every month. our beauty creators on youtube and you are playing along and having a good time
every month. emily: i'm all about gifts for myself, but how do you afford giving away $40 of makeup every month eschew mark -- every month? make surein order to their brand is relevant, they need to be in the hands of the content creators. we work with different rant partners who are willing to give us their products in order for us to send them out to our engaged audience and connect them with the network of creators we have on youtube and instagram, publishing the best beauty content online. emily: tell me about the immunity, because it strong and very active. marcelo: the beauty industry is totally changing to one with people generating awareness are the content creators. in the past, it was magazines and the nate -- and the makeup counter. that community is important.
we give them access to studios and events so they can dissipate and grow their own careers. use the money?ou continued investor -- continued investment in the creative space. creatorse in content and it's time to invest in that space and it gives us $100 million more to invest in creators. emily: i think i over myself a gift. thank you both so much for joining us and congratulations. that does it for this edition of "bloomberg west." do not miss my interview with edge mark appel's bill early tomorrow. ley tomorrow.
mark: i'm mark halperin. john: i'm john heilemann. and "with all due respect" -- of celebrityst apprentice, hostilities to, baby. john: on the show tonight, the hillary clinton's lap and then make america great cap, but first joe biden -- this is a big week in the campaign. bere's the guaranteed to good for television republican debate and lori clinton's poll numbers are raising real questions in the democratic party and john sets it up with