tv Bloomberg West Bloomberg May 3, 2016 6:00pm-7:01pm EDT
forces inraqi-kurdish modal. a resolution, demanding medical personnel and hospitals be protected against violence and attacks. something is deeply wrong. hollow tons are parents bearing their children, and communities ready to collapse. least 20 people were killed in syria today, when rocket fire struck a maternity hospital in a government-held section of aleppo. this may be ted cruz's last stand. -- ift today in indiana he loses today in indiana, it could make donald trump all but unstoppable. the feetald trump could increase the chances of a contested convention in july. for the democrats, they are
still in a tight race. mrs. clinton has 90% of the delegates she needs to become the nominee. day, froms 24 hours a bloomberg world headquarters, i am mark crumpton. ♪ emily: i am emily chang, and this is "bloomberg west." their numbers, in just a moment. plus, one year after losing her discrimination lawsuit, ellen pao is back, and has no regrets. she will be writing a book. i caught up with her for her advocacy venture and diversity in silicon valley. drivers of minivans coming to a
block near you. sliding into the space with google as copilot. cbs shares popping slightly in extended trading, better-than-expected first-quarter results. from then ad sales super bowl and grammy telecast. just under $4 billion, up 10% from the same quarter last year. $473 million, up 20% year-over-year. but it was not all good news. york,g me now from new our editor at large, cory johnson, and bloomberg entertainment reporter, lucas shaw. >> les moonves talked a lot about it. advertising sales are up 31%. john chen: those are -- lucas: those are huge numbers. even if you take the super bowl out of the equation, it is still
pretty impressive, when you consider readings are down in every tv network. emily: it is interesting, because cbs is exploring strategic options around the radio division. it is certainly an interesting thing they are looking about -- looking at. it is also just as interesting when you look at, as lucas was just talking about, the network thing was unexpected. there has been such a deterioration across the line for this business. that 14% rise year-over-year specificallyvery in their television business, which was most of the revenues. it is a place where they are expecting to see some weakness. but this was so much better than anyone else, 14% year-over-year growth is a powerful number for these guys, in their most important business. and this is at a time when others are hurting. lucas: you brought up the radio
sales. one of the reasons they are trying to sell the radio business is to reduce their reliance on advertising, right now when it is driving huge numbers in a business. talkinge have been about another situation, supposed to start this friday. where are we with that, and did i come up on the call? lucas: it did not, the competency trial begins on friday, they ruled earlier this week that it will have to be deposed, and they will need a video deposition, pitstop at any time. one thing that came up on the call was a recent report about les moonves trying to get shares and unifying the share structure. he did not address that at all. showtimes also owns it , in a race with hbo. sat with the ceo of showtime, and here is what he said about keeping up with the competition. >> it is a complicated, 21st
century media world. fore are many clamoring attention, and we have to stay at the top of the list. we have to put up shows that feel like they have risk to them, but will make people pay attention. i think we are on the right path. emily: cory, how is showtime doing in the race? cory: showtime's number two to hbo. split happens between by a common cbs, cbs was getting the weaker assets of been showtime. but they are really grown this into a powerful business. the year-over-year decline of 3%, not terrible, but not super strong. --lions is not quite "billions" is not quite "house of cards." well, but did compared to big hits on cable, not as well. cory, you're sticking
with me, lucas shaw, thank you so much. i do want to talk about at the, shares gaining an extended trading, after posting a surprise profit. earnings per share of one cents, while analysts had expected a loss of three cents. they have been offering paid services to sellers. but they still have a long way to go before winning back investors. thantock had fallen more 60% over the year before tuesday's close. cory, i do want to pick your brain a little about apple, a stock on the move. shares rallying today to snap and eight shares slide. serious decline. over the last eight days, apple saw more than 74% of its market cap is apple rate, the biggest decline since the financial crisis. what is your outlook for apple?
are they writing because they are so cheap? cory: i don't do stock prediction, people will pay what they are going to pay. but it is true that there is a different narrative going around wall street, about how the company is managed. i think there is a lot of concern about tim cook's behavior, when he e-mailed a rival network, to announce china sales are strong. move, andery unusual they got attention because it was a bold statement. and the other ceo what it seems like stock promotion. saying, we are doing a lot of success in china. with earnings out, it seems like china is quite weak for them. arguably, one of the most important or most important market in terms of where recent growth has come from. being askedestions on wall street about the credibility of management. and that is a new narrative for apple. but there was an interesting note yesterday, summing up the
bear season in the bowl season, as well. it talked about we are near a trough. that is the hope of the bulls, but certainly, there are new concerns on wall street about the management of this company. it is a message i think we have not really heard until the recent quarter. that is resonating drought the market, as you can see with the share investors. our editor at large, cory johnson, thank you for breaking it down. another stock we are watching is it yelp. it spiked in tuesday trading after hedge fund manager is taking a stake in the company and thinks it could be worth $55 a share. he said yelp stock has suffered due to miss -- expectations about upcoming, negative commentary. but he believes yelp can double
epicenter of a case they got national attention when she sued them for gender discrimination. but she lost on all counts. what is she been doing since? i sat down with her earlier for an exclusive interview from oakland, california. it has been a year now since the verdict, and today you are launching project include to speed up diversity and inclusion in tech. why do you think this will work, when so many other things have not? ellen: we pulled together a team of women with almost 150 years of collective experience in tech. we have seen all the problems and issues, and have a set of recommendations for what people will be able to do to solve these problems. we think that our years of experience in the research we have done will really make a difference. had made these recommendations to ceos and startups, what makes you think they will listen? ellen: we have a couple who have said they want to use our recommendations and are willing to participate in our starter program. a bunchshared it with
of ceos and engineering managers and other executives, and they say they agree with what we recommend. we are not telling them to fire everybody and start from scratch. these are just ideas that have come through actual experience, things people have done, things we know and are sure will work. of peoplesg out experience, and the research that is out there. it is pulled together in one, integrative document or website that will help people do what they say they want to do in a way that we think will actually work. emily: which companies are committed? ellen: we can't talk about that, we are still talking to people. but i'm excited that people are interested in what we are saying. work, are will the you looking for companies of a certain size, how will you do this? ellen: two different programs, and the otherps,
is too early to talk about. the one for startups, we're looking for 18 startups that are between 25-1000 employees in we want to get things started. what type of recommendations you will do, where you are in terms of your metrics today, a second one, three months in, to see where are we, how we are doing, what is working or not working. , third meeting to figure out where do we end up, what really changewhat do we want to in our recommendations based on these experiences, and what is next. emily: if a company as big as google or apple were talking, tens of thousands, where less than 30% make up the workforce, is it too late for them? i don't know, we are focused on the sizes of companies where we can make an impact, where this idea of innovating in changing really quickly on the fly is most
appropriate and impactful. your rolet world personally in this initiative be? ellen: we pulled together this project out of just our spare time, enjoying the process of working together and getting a lot of things done. this is a passion project for us on the side. we will all continue in our own work, but continue to drive things forward as a team. emily: let's talk about your own work. you lost an incredibly high profile case on all counts. you were interim ceo of read it for months, what are you doing now? ellen: i took about five or six months off, and that was great spending time with my family, going on vacation, getting a lot of sleep. then i started working on this and pulling together the team of people that are there today. bethany blounch, laura , erika baker.ers
we have been working on this and pulling this together, and i am also writing a book very -- book. emily: what is it about? ellen: a lot of these issues, with personal stories. why we are so interested intact, and how we get through and make it more a diverse environment. looking for a job? people were nervous to even be seen with you, and it was a difficult process. ellen: when i was a kleiner perkins it was very hard. people inside and outside did not want to be seen with me. it has changed quite a bit since then. people are becoming more aware of these issues. it is not my one-story, it is a lot of people sharing their stories and having similar experiences. , have been working on a book
not looking for a job until i get this done. then i will see what happens. my exclusive interview with helen power. still to come, what she has been up to since the controversial discrimination case ended a year ago. more of our conversation, in just a moment. in today's revolving door, amazon may have lost out to twitter on the nfl streaming deal. but the e-commerce giant is not giving up on sports. they have hired executives to head up the project. run digitaled to video for "sports illustrated." google's first deal with a major car deal, bringing their famous self driving cars closer to commercial reality. ♪
emily: to part two of our exclusive interview with ellen pao, former kleiner perkins junior investing partner. about -- aftere suing her former employer for discrimination. whered she leave reddit she served as interim ceo? you said you don't regret it, now that you have had a year to reflect, would you do it again? ellen: that is a good question. i would do it again. but i will tell you the same thing many people told me, when i was talking to people who have sued, mostly financial services. they all said they would do it again, but not recommend other people to do it. emily: what would you recommend to other women or minorities who feel they are being discriminated against question mark do they sue or go somewhere else they will be more appreciated? ellen: i think it depends on where you are. if you think people will listen, you should try to change from
within. if you have the energy for the path you want to take. but i try to change from within, and it did not work. if it won't work, go somewhere else. were: if you believe you so wrong, why did you not appeal? ellen: the appeal process is very hard. it is so expensive, you're not matched in terms of resources. they have teams of pr people attacking you and your family. at the end of the day i thought, i got most of my story out, i can write a book to tell the rest of what i want to share. and i think people heard what i had to say. women kleiner has more than some, and they say it was not sexism. they say you were not good at your job or deserve to be promoted. over the last year was there any part of you that thought, maybe they are right? ellen: no. i saw the other women who had similar things said about them and believed that the group of us were not treated fairly. becamejohn recently
chairman of the firm and wanted to be a player coach. he told me he wants to focus on developing new talent. what would you have to say to him, any advice as he brings up the next generation? ellen: it would be great to include some women and underrepresented people of color in that group. emily: do you have any relationship at all? john chen: no. --ellen: no. you try to crack down on online harassment, but the community revolted. were you fired, did you feel pressured to leave? there are a lot of things that happened back there. i could write a book just about what happened at reddit in the past few months.
it is very difficult to change a community, once it has gone in a certain direction. hope other internet companies realize is, when you have problems, they scale with your company, and it becomes revive,d to revise -- once the genie is out of the bottle. how can you make reddit safer for women and minorities? online, it is outright misogyny and death threats. you are on the receiving end of some of it. ellen: you have to build up a giant community team, and a bunch of technology. my understanding is, they are trying to do it. but the jury is still out on whether they will be able to. it is much harder to do now than for much smaller companies with smaller communities. it is hard work. you see that from twitter and facebook, and snapchat. going back and trying to fix things later is always harder. that is why we are focused on the start up sides.
if you can make your startup diverse and inclusive from the first ages, hopefully that grows with the company and the community and built-in all of the great things you want from the get-go. are we harder on women in leadership roles and hold them to a different standard? i am thinking marissa mayer at yahoo!, or those in turnaround situations. ellen: it is a hard question, because i do not know the details of what they're doing or what they have gone through. i know that the leadership roles will have a much lower number of women that they should be. there should be more women ceos, and there is definitely something going on that is making it harder for them to succeed, making it harder for them to get into those positions. we get more women into technology? get all the girls in at
an early age, i think that is one piece of the problem. the bigger problem is, once they an in, are they in environment where they have a chance to succeed? are we given underrepresented people of color opportunities to learn and get hired, and get promoted and getting to roles where they can actually lead? part of that is, we have a lot of bias. we are not finding the people and making an effort, because we are comfortable with things the way they are. a lot of things have to change for that to be a reality. interviewexclusive with investor and not governor ellen pao. wall street is getting worried about robots. also, replacing its robots. industry leaders new asset management at the industry most at risk for disruption by financial technology. they said the sector would feel the biggest changes, followed by banking, securities, insurance,
and this could be bad news for financial employees. remarks made this week i executives at the milken global conference, said they should fear job replacement. another story we're following, a new king among desktop browsers, google chrome has edged out microsoft explorer. over 41.7% ofjust the market in april. trailed opera, respectively. chrome in the had lead before and last month. coming up, we meet the ceo partnering with instacart to take on the meal delivery market. ♪
russia and the u.s. worked toward a cease-fire in aleppo, that could be the way to end syria's five-year civil war.recent airstrikes in the city have left hundred s dead. the czech republic says the u.s. has its right, not enough is spent on defense. europe lacks the ability to combat security threats, like russia and the islamic state. for corporations scaled-back plans --four and corporations -- foreign corporation would it scaled-back plans in the west if if double jump were to be president. it with prompt the olympic flame is in brazil. the president of the olympic committee carried the flame in a lantern as he arrived in brazil. the president received it at the
presidential palace, igniting the torch for its journey around the country. the summer olympics begin august 5. global news 24 hours a day, powered by our journalists in more than 150 news bureaus around the world. i'm mark crumpton. bloomberg's paul allen with a look at the full it from the australian budget. good morning. paul: good morning mark. the deficit came in worse than expected at $37 billion. it was a fairly mild budget. there were tax cuts for small companies earning under $10 million per year. a task force for multinational tax avoidance has been set up. a chart back to surplus -- that relies on 30 optimistic assumptions -- on optimistic as
sections, like $55 for iron ore. and growth prospects as well. this is an election year. the government unlikely to send a note of doom and gloom. the bank of australia lowered a record low of 1.7% before the budget lockup. for bloomberg tv. ♪ has plans tojoy he take on a meal delivery market. personalized nutrition service
announced a service to offered taylor nutrition in 22 metro areas. the deal puts it up against meal delivery competitors. but plate joy isn't pre prep like the others. how will the partnership actually work? >> we are living in a time where, when you ask people whether or not they are having with how they are eating -- most people say no. it is interesting because fewer people are on diets today. that is because people realize the key to eating healthy is to follow a healthy lifestyle. in order to do that, it has to be personalized. that is where our company comes in. we use over 50 data points about how you eat and live to determine what you should each each week. -- eat each week. we provide you with a personalized shopping list that matches your preferences. emily: i have a family of four.
how do i sign up? what is the work involved? >> as a subscriber, you come to platejoy.com. details about your preferences, your husband's preferences. you mentioned you have two sons, maybe one is a big eater or has a peanut allergy. you get a menu for the week. you can click a button, and with that click, your list is exported to in stuttgart. -- instacart. in over 22 metro areas across the country, it can be delivered to your house. emily: but it is not proportioned. -- not pre portioned. >> the biggest thing consumers lament about delivery services is about the access waste. -- the excess waste. these boxes are coming to you from fedex. they are packed with dry ice.
consumers are environmentally conscious. with our instagram partnership, we are offering same-day. you are getting the back delivered. the portions are tailored to your preferences. if you have five ounces of salmon, we can cut to serve based on what whole foods can provide. there is not the packaging waste. and we remember what you have week to week with our digital entry service. we already know that you have a container of cinnamon at home. emily: how do you know how much i've used? >> we have an algorithm that remembers each week what you have used. we can confirm that. we make sure not to send you access. emily: you have an interesting story. tell us about the inspiration. >> the inspiration is two part. i graduated from m.i.t. in neuroscience. i wanted to be a doctor and help people live healthier. i realized there is so much low hanging fruit, no pun intended, when it comes to prevention.
over $70 billion in health care costs could be saved through better nutrition and food intervention for patients. that was part of the inspiration. personally, i lost over 50 pounds myself. i was overweight and spent two years trying various diet delivery services. they were all really bad. i could not maintain the lifestyle afterwards that would allow me to keep the weight off. i let platejoy solve the problem for myself. emily: how many active users, and what is the model? >> we charge 8-10 dollars per month. $59 for six-month. $89 for a year. that gives you access to other of the seas -- all the recipes, shopping lists. our customers range from the paleo mom with a gluten-free child, to a couple is trying to eat a plant-based diet. we have employers that use
platejoy for their employees. we work with nutritionists directly. they often only have a quick 30 minute session with patients. they want to be able to provide them help long-term. emily: interesting. platejoy cofounder and ceo. congratulations on your new partnership with instacart. just eat, a london-based market place for takeaway saw shares soar after it will see a boost to full-year sales and profits. this from increased fees its charging u.k. restaurants for online take-out services. it boosted the market value $4.1 million. the company boasts 14.2 active million users. it is partnered with more than 64,000 restaurants. a space in south korea. the president joins us from the global conference earlier to explain why asia is so important
to the country. >> very excited to announce that we are continuing our expansion into asia. at the beginning of the year, we sat down and identified the asia was a really important market for us. raisedwe work falsely under half $1 million -- recently raised under half $1 million. take a listen to what vincent had to say about that. >> if you focus on valuation, you are focused on the wrong thing. what you have to focus on is the experience of your customers. in this case, it is our members. that is what we are focused most on the company. emily: nba commissioner david stern joined us from the conference to talk about expanding the nba brand. >> social media is the next step in the digital evolution, which
allows sports leagues, teams, players, to connect with fans all over the world. the nba as somewhere between 1 and 2 billion social media followers, etc. when you consider the teams, the leagues, the players -- that will be a huge driver of global growth. emily: stern that plays an advisory role at greylock capital. you can find a full interview on bloomberg.com. coming up, the key dividing the world's most -- the key to fighting the world's most drug resistant bacteria could be out in nature. the bioresearch happening deep underground. ♪
emily: the rise of drug-resistant bacteria created a need for new biotics. the answer might be in nature. we followed one microbiologist searching in the most unlikely place for the key to fighting super bugs. >> there is a quiet crisis going on in hospitals around the world right now. certain strains of bacteria no longer respond to any known antibiotics. there is a word for these antibiotic resistant deck area -- we call them super bugs. unless we can develop new antibiotics, super bugs could make a lot of people very very sick. >> we are racing against the clock. you already see a number of people who have died a meaningless death because they
had these minor infections. us to lookative for into new drugs and new sources of what could be the habitat for new drugs. ♪ there are lots of steps involved in this kind of research. >> look at that one. >> first off, you need to find the appropriate case. you go in and collect samples. >> what the doctor is looking for in this case is in fact bacteria. not the infectious bacteria that makes us sick, but be nine bacteria that can produce antibiotic compounds. this is how many antibiotics were first developed. in this isolated cave, she is hoping to find new species of this bacteria that no scientists
has ever seen before. basically, it could be anywhere. lollipops,traw, cauliflowers, all of these could be micro-habitats where such unique microorganisms could live in. ♪ the sample back to the lab. you will try to isolate as many that. as you can -- as many bacteria as you can. >> do you want to look at the other soda straw? >> sure. look at that. that looks more promising, this side.
it is a painstaking process. needle in ainding a haystack. >> yeah, maybe six haystacks. [laughter] >> the doctor and her students extract the most promising bacteria and try to grow them in greater numbers on lab plates. >> these are our cave bacteria grown from the iron curtain cave. distant populations of bacteria growing. >> then the real test. a sample of the cave bacteria is placed on a dish of e. coli. the gap indicates antidiabetic activity, a successful find. -- antibiotic activity, a successful find. the doctor has found many. that can -- many bacteria that can kill e. coli. finding a life-saving drug could take up to 25 years.
>> give his heart. i have already been doing this for 14 years. last year, we came closer to a chemical structure. but it turns out, actually it was very unstable. compounds that we isolated from the bacteria. so now we come back to the drawing board. i am still a human being. [laughter] i am still easily disappointed. but i got myself away from those kind of negative thoughts. i would remind myself that it doesn't come easy. nothing comes easy. i think the reward at the end will be well worth it. emily: stating in biotech, biogen will spin off a team affiliate drugs business into a
new publicly traded company possibly worth up to $5 billion. it gives the massachusetts company the freedom to focus on therapies for neurological diseases like multiple sclerosis and alzheimer's. the spinoff is been approved by the board and should be completed by the end of 2016 or early 2017. biotech shares are down 27% to date. soccer moms unite. google is teaming up with fiat on some driving minivans. and soccer dads too! with his it mean for the two companies? morning, we taken to the media giant's latest results. that interview, 11:00 a.m. new york time. more of "bloomberg west" next. ♪
emily: the online dating company is searching over 7% in late trading. match, which owns tinder, okcupid, and others, reported sales of $21 million. the wireless wars continue. sprint shares rising in trade after the carrier says it's comforting -- slashing capital by 36%. they hope to improve its network in an increasingly competitive market. it is to make up for a much lower amount of subscribers than disputed. the actual number came in at 56,000. sprint is the number 4 carrier in the united states. uber's partnership with the alipay hasment app gone global. user can now use the app to pay
uber fares in any of the 60th companies where it operates. it has been particularly important for growth in china, where the deal has been in place since 2014. there, uber went from owning 1% of the market in 2015 to roughly 33% by the end of the year. fiat chrysler has reached an agreement with google to create a fleet of autonomous minivans. it's the first phase of a joint project for the company to develop about 100 self driving prototypes based on the kreitzer pacific american. -- the chrysler pacifica minivan. the two companies remain free to work on similar projects with other partners. we are joined by our bloomberg news reporter and tech report. david, i want to start with you. what do you make of the two parties. why would google pick fiat chrysler, and vice versa?
david: google has talked to carmakers about the deal. they wanted to share the testing data from developing the cars, share intellectual property, and develop the actual brain to make a self driving car work. google wants to keep control of all that. that is favoring the party. fiat chrysler isn't developing any of their own self driving technology right now. they have much less leverage when bargaining. they can just go to google to get the technology, and google can keep everything's for themselves. fiat chrysler can just a sickly be the manufacturer for them. emily: these automakers have been based in europe for a long time. you don't think of parents with kids as the test case for so driving cars. -- for self driving cars. does this point towards a uber ride sharing model? >> most people expect that is
what will happen 15-20 years down the line.i don't necessarily agree with the kid's front. if you have screaming children in the back of the car, you don't want to concentrate on driving. it's about who has the data and who has the lower margin construction of vehicles. emily: the ceo of fiat chrysler has an adjusting view. he thinks that too many automakers are working on the technology, and that there should be more collaboration. in fact, consolidation. david: he has been beating this drum for some time. it was a year ago that he was pushing for megamergers among automakers so they could take the huge costs of development and to further them over many more. -- many more millions in vehicles sold. general motors did not want to deal with him. he has to find someone else to develop this technology. he has mentioned apple as a
partner. he is not developing it himself. he thinks it is too expensive. he could not get general motors to piggyback. now he is gone to the big silicon valley company, which is google. emily: it seems like other european carmakers not so open to working with google. why? alex we saw in europe: the three big german carmakers. daimler, bmw, and audi. nokia's mapping service. that was a pure power play to keep google out of their cars. they think google wants to shovel their sensors onto a vehicle, know where people are going. carmakers in europe know that is where the incremental value lies. the high-margin growth could
come from this down the line. they don't want to sacrifice that to google. emily: in the race for self driving cars, is google pulling way ahead? david: it is hard to say, but they have more miles tested than anyone. 1.4 million miles of autonomous driving. this is what the deal is about. to get these tested and on the road, you need many millions more miles. they've only got so many lexus suv with their technologyvs in it. that is why they are getting 100 minivans. both. thank you it is time to find out who is having the best day ever. today's winter is shane smith, cofounder and ceo of vice media. vice and espn produced a new short form series that will air
on both channels. vice continue its run of successful partnerships that began in 2013 when it aired its hbo documentary show. it will focus on athletes in sports outside of the mainstream sports realm. that does it for this edition of "bloomberg west." tomorrow, a full breakdown of earnings after the bell from tesla, zynga, an fit bitd. that is all from san francisco. ♪
announcer: from our studios in new york city, this is "charlie rose." him his you call creative spouse, you talked to him as much as he talks to his wife. how did this begin? this working relationship? >> i would be curious to hear your version of this. if you want to go to the room where it happened, i remember when i first saw lynn, i had heard about