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tv   Whatd You Miss  Bloomberg  October 9, 2015 5:30pm-6:01pm EDT

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emily: a multimillion dollar tech merger is in the works. offering $33 billion for emc. emily: i am emily chang. this is "bloomberg west." barclays is the latest to downgrade the stock amid continuing questions about delivery. over is reportedly pointing a fever at an industry rival in a major data breach. myth, the movie.
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steve jobs opens this weekend. we will your reviews from steve wozniak. offering $33 a share to buy emc. this, according to a person with knowledge of the matter, who said the deal may be done as early as monday. shares of emc are rising after hours along with viemware that could be tied to the deal. cory johnson is in the newsroom. you have been digging through the numbers. what do you make of the price and speed at which this deal may be done? cory: we will see. this is a hard deal to imagine. it is about a $64 billion market acquisition for dell. they have nowhere near that amount of money. this is a minnow swallowing a whale. we know dell already has a ton of debt. the company was taken private in large part through borrowing money. if you look at the size of dell's business, it has about $12 billion in debt, given an
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enterprise value of maybe $25 billion. they are trying to buy a $54 billion company. to get to those numbers, 12 billion in debt, $25 billion enterprise value, that is an estimate from bernstein. emc is a $55 billion company. how does a $23 billion company by a 55 and dollar company? by borrowing loads of money. what does this mean for the future of dell? what can we glean from michael dell's vision if he is pursuing this deal? cory: he is looking at that storage business at the heart of emc. he is expecting to have an additional portfolio products to sell, mainly because the p.c. business is in the tank. number saying the p.c. business falling 7% year over year, one of the worst declines we have seen in that business. it suggests dell got the wrong stuff.
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joe tucci, a strong leader who has been looking to retire, postponing that for a while so they can figure out what to do with emc. that is propelling emc in this. emily: cory johnson, i know you will be continuing to watch the story. we will bring you developments as they happen. i want to talk about tesla, falling to its lowest price in six weeks after barclays downgraded the stock. tesla shares have declined every day this week after three analysts slashed ratings. he lowered his price target. on wednesday, been callow downgraded to neutral. today, barclays trimmed his 12-month target price and rated the chairs the mesh shares underway. analysts have been skeptical since the model s unveiling last week. dan, despite
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the negative sentiment, you are saying by. why? >> as far as i am concerned, all of the negative data points have not been confirmed by management. downgrades and data points. if you think about tesla, you have to think about the long-term story. they are building a new car on the same production line. they have to deliver it. they have to get it wrapped up. these are baby steps they are making. you have to look at the long-term story. you have to look at 2016, are they going to lower the battery costs. we have done research that shows you can get the battery costs down to $125, literally 50% decline. you have to look at all of that and think about the demand. the demand is very big. demand is there. the cost of the battery is going to come down.
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factory has done the work on the chemistry and production level. that is what makes this a buy, despite the short-term noise. nothing more than that at this point. emily: max, you have been covering the industry for 15 years. a lot of negative sentiment has been building since we saw the model s. it is an awesome car. it is expensive. why are reviews some mixed? run, iink in the long agree with dan. tesla is a terrific company. it is one of the few automotive companies with a vision. the vision is to change the world. their vision is to bring sustainable transportation to the mass market. once the model three comes out, i think that is when the tesla vision will be realized. emily: the model three is the cheaper version, supposed to cost $35,000.
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should they be focusing more on that now? >> the issue with that is it is $35,000, that is the base price. people tend to upgrade. let me tell you about the research we have done. we have surveyed 145 owners of tesla's currently. people tend to pay 60% premium for their tesla. that means if they sell a car for a base price of $35,000, $45,000 a people upgrade, that captain to the market of $35,000. millionooking at a $20 car more or less. did it is really not that big of a deal. i think everyone should be focused on the model three and lowering the cost of the battery. that is the most important part. that would allow them to sell the car and be profitable and generate a low 20's gross margin, which is in line with ford or g.m. if you adjust for
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what the dealers are taking. emily: i want to ask your reaction to some comments elon musk made to a german newspaper yesterday. in a question about whether he was concerned about apple poaching tesla engineers for apple car's efforts. musk said they have hired people we fired. follow-up, they asked, do you take apple's ambitions seriously? apple is it is good investing in this direction but cars are very complex compared to phones and smart watches. is the nexthe car logical thing to offer significant innovation.
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your thoughts? engineerk any aspiring is looking to work at tesla. it is a much more appealing proposition. as you mentioned, would you rather be working on the next iphone or the model three or maybe even working for spacex and consider space exploration? emily: if apple is working on a car, isn't apple potentially an exciting place to work for a supreme engineer who might want to work at tesla? >> it is an exciting place to work. however, tesla has elon musk. elon musk is a brilliant engineer and physicist. more importantly, he is the driving force behind every decision at tesla. very similar to what steve jobs used to do it apple. as an engineer, you want to work in the environment where the cofounder is in the trenches with you working on every little
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detail of bringing the new car, the new vision, to market. emily: the reality is none of us will know until we see this supposed apple car. max and dan, thank you both. uber appears to be getting closer to an answer in a high-tech whodunit. multiple reports say uber investigators have found evidence linking an executive at the bridal right service to a major data breach last year. 2014, a hacker downloaded names and licenses of 50,000 riders. uber says it believes it was a breach to poach drivers and filed a lawsuit in san francisco to determine the identity. traced into a comcast ip address and a federal judge ordered comcast to reveal that subscriber's. identity lawyers for that individual are appealing the ruling. today is the day the highly
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anticipated steve jobs biopic is out. we will hear from steve wozniak. ♪
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emily: now to a developing story. he has only been on the job as permanent c.e.o. for a week, the jack dorsey may be ready to make tough decisions that twitter. twitter is planning layoffs next week. no word on how many jobs will be cut. the company said it had 4200 employees as of last quarter, more than double the roughly 2000 employees it had in 2013 before the ipo. the twitter user base has grown less than 50% in that time.
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we will update you as we get developments. we did reach out to twitter and the company declined to comment. the long anticipated steve jobs biopic opens today. multiple actors cap to play jobs dropped out. now the film is getting oscar buzz. i interviewed aaron sorkin at the end of last year and asked of all the books and movies already out about jobs, why he thought there was more of a story to tell. >> i think you could do 10 more movies about steve jobs. i think if you lined up 10 writers and said write a movie about steve jobs, you would get 10 different movies, all of them worth going to see. emily: did you meet steve jobs? >> i spoke to him on the phone three times. the first time, he called me because i gave an interview in which i said everything i have ever written, i have written on a mac. he called me to thank me for
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saying that and asked me if he could send me, they were coming out with the new laptop. he said let me send you this. just play around with it and tell me what you think. the second time he called me, it was to invite me to the bay area to twour pixar. he wanted to know if i would be interested in writing a pixar movie. the third time he called me was to ask me to help him write his commencement address at stanford. emily: you helped him to write that? >> honestly, i fixed a couple of typos. emily: i was there that day. my sister was graduating that day. >> that is amazing. emily: it was beautiful. >> i don't want to suggest for a moment any of those thoughts were my thoughts. that was the brain of steve jobs. i helped him get the music to it. emily: how hard a character is that to write? how hard is that to bring to
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life? how much pressure is that? not putting any pressure on the. >> the same pressure i feel when i am writing anything. maybe with a little bit of sauce on top of pressure because he is a person so many people have so many strong feelings about. i have met and spent a lot of time with the other seven characters in the movie. join a hoffman, who is a fantastic character. she was the head of marketing for the mac team. john sculley, who was the c.e.o. of apple and became famous or infamous for firing steve jobs from apple. he is a wonderful man and a great character. jobs hasovie, thaticts with all of them
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get dramatized and worked out in a very compressed, claustrophobic environment. emily: i also spoke with steve jobs' former p.r. mastermind who helped launch the macintosh and went on to work with jobs at pixar. here is her take on the film. >> he doesn't excellent ta -- he doesn't at one job of characterizing the good, bad, and ugly of steve jobs. he was a complex character. what i really love about the film is it takes around this of his character and expresses it in less than two hours. emily: that is andy cunningham, steve jobs marketing expert. insight of all -- in spite of all the drama, this movie is getting oscar buzz. what are you hearing in
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hollywood? what is the reaction? jobs" opens this weekend in only about four theaters. two in new york and two in l.a. it is off to a strong start. michael fassbender who was picked after christian bale and leonardo dicaprio decided not to by punditsle, he is the number one choice supposedly for best actor. there is a long way to go. leonardo dicaprio has a film he stars in which has not even been seen yet by many people. that could change things later on this fall. emily: i have been trading messages with steve wozniak today, steve jobs cofounder apple. he says he's going to see the movie tonight. you spoke with him about his thoughts on the film. i know he's been time was aaron sorkin. what did was the act -- what it steve wozniak tell you? >> i have spoken to him a few
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times since the first trailer came out. there are a bunch of people that worked with steve jobs, that worked at apple, they consulted on the film. he is one of them. he feels it correctly portrays the character of steve jobs, if you will. he will agree with others who of this is not a documentary the creation of apple as we know it today. it is sort of a three-part film based on the launches of three iconic mac products. a lot of it is not true, apparently. he does nott mean recognize the steve jobs michael fassbender plays. emily: i'm excited to see it. thank you for joining us, our bloomberg entertainment news reporter. coming up, we sit down with the man aiming to crop fund a mission to the south pole -- crowd fund a mission to the south pole of the moon. why? that story next.
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we recap this week in space, starting on pluto. nasa's new spacecraft is still sending back images from its historic flyby in july. we learn from the most recent photographs pluto's sky is blue and huge patches of ice are mysteriously red. moving on to mars, curiosity has found evidence of streams and lakes that existed billions of years ago. according to nasa, the red planet was once capable of storing water in lakes for an extended time. the challenge, they say, is figuring out what happened to
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that went to plan -- wetter planet. lunar mission one is a research project aiming to send an unmanned they scrapped when unexplored area of the moon. what makes this project unique is it is crowd funded. the missionuy into which raised $1 million on kickstarter last year. the founder joined us to explain. lunar mission one is a robotic mission to the south pole of the moon for scientific research. what we are going to be doing is taking away the need for space agency money with all of us paying and putting it into the hands of those who want to take part. if we can get everybody involved around the world, our market research suggests we could raise in the region of $5 billion.
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first toing to be the drill deep off the earth. that will lead to a kind of technology that can be used for life on mars -- the search for life on mars, for example. we are also going to deposit a time capsule of life on earth, a record of humankind and our species database which can survive a very long time. has being able to launch it been successful. we think we have tapped into an interest in space, life on earth, and the few people have allhemselves, their lives, being put together as a record for imagining what might happen in the future. founder ofd iron, the lunar mission one project. the latest campaign is called
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footsteps on the moon where people can buy digital space in an epic time capsule that will be dropped on the moon in 2017. tiltng with crowdfunding, is one of the fastest growing crowd platforms on mobile with the company saying it outpaces rivals like kickstarter and go fund me. ands backed by big names has been used for more than 300,000 campaigns. the c.e.o. and cofounder james beshara joins me with more. it is great to meet you. are we at a point where we could crowd fund a billion-dollar space launch? >> we love seeing that. , sony people have waived their hands about it for a few years. i think it is still not mainstream. with big projects like that were .o. is making it an everyday type of activity. i think it has a long way to go
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before it is mainstream. it is fun to watch it get there. emily: what makes you different from kickstarter or go fund me? where are you seeing your growth? >> the easiest way of explaining it is we are focused on crowdfunding for groups of friends. it is $500, $1500 for a party. $500 for a tailgate sunday. a group of friends pulling money for a ski house on tahoe. most key is it is focused on a mobile use case. emily: i'm glad you mentioned that. i hear you might use tilt to find your keg party. but you have kickstarter being used to fund syrian refugees. is tilt being used the way you hoped it would be used? >> that is an interesting question. my first crowdfunding platform was focused solely on poverty illumination -- elimination and
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built out tilt to be more bite-size, everyman approach to grant funding. i think the significance of that is crowdfunding in the conventional first generation tools is seven years into it, and it has not made it into people doing it more than two or three times a year. if someone can both the simplest and most accessible platform, if you can build it for a mobile context, for someone to start with a $1000 community project, the ideas they will come back and use it for more ambitious ideas. emily: where does it go next? >> we are growing fast on college campuses. we are growing about 40% month over month on college campuses. it is exciting to see. we have been doing it for three years. it is a lot of fun. internationally is our next biggest target. emily: james beshara, thanks for joining us. you will have to bring me the most exciting tilt -funded project.
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that does it for "bloomberg west." happy friday. we will see you monday. ♪ . .
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♪ >> from our studios in new york city, this is "charlie rose." rose: we begin this evening with politics. representative kevin mccarthy dropped out of the running for speaker of the house today. mccarthy: the one thing i've always said to go this majority -- more service. we should put this conference first, and i think there is something to be said for us to unite, we probably need a fresh face. the one thing i have found talking to everybody, if we are going to unite and be strong, we need a new face to help do that. rose:

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