tv Bloomberg West Bloomberg May 5, 2016 11:00pm-12:01am EDT
>> i'm mark crumpton. you are watching "bloomberg west." house speaker paul ryan will not support donald trump's nomination, at least not now. ryan, the 2012 vice presidential readye told cnn, "i'm not to do that at this point. i'm not there right now." he continued saying, i think what is required is that we unify the party. former republican presidential nominee mitt romney will skip the nomination in cleveland -- convention in cleveland. in march, mitt romney delivered a blistering attack on donald trump, calling him a phony and a fraud. donald trump has called romney a choke artist for losing the 2012
election. in canada, alberta is under a state of emergency. the declaration comes as crews with to hold back wind, wildfires that have already torched 1600 homes. officials say there are 490 -- 49 wildfires, seven out of control. more than 80,000 residents have fled. no word on injuries or facilities. -- fidelity's. at least 20 people are dead, dozens wounded, on a syrian refugee camp near the border with turkey. hundreds fled, including from aleppo. global news, powered by 2400 journalists, and more than 150 nurse -- news euros around the world. i'm mark crumpton. ♪ emily: i'm emily chang, and this
is "bloomberg west." coming up, square his first-quarter reports are out, and shares are plunging. how jack dorsey payment company plans to end up increasing competition from apple and paypal. we break it down. plus, the media get serious about snapchat. whyear from the ceo about he's setting up a studio for snapchat, and where he thinks new media is heading. and the man i string in a digital revolution in education. we hear from the founder of the khan academy leader this evening. plunging,irst, square despite the first quarter revenue, topping analysts estimates. revenue was 37 $9 million. there was also a net loss. investors are disappointed in the loss, and high operating costs. what does ceo jack dorsey need to show wall street at this
point? we speak with a former visa executive, and our editor at large, cory johnson. cory: a couple of things. maybe the most worrisome thing was commentary in the letter, in the note to investors. there's a cryptic message, what they called challenging credit market conditions. square, the way they extend credit to small businesses, i --nk $153 million in loans they take the credit and sell to investors who want to get damon's back. the letter that .hey had little default however, they said challenging market conditions mean they cannot sell during the quarter as quickly as they wanted, and that is a big worry. the business part of their growth, where they think they can get profits, but they can't sell the paper, a big problem. emily: you're talking about
square capital. they were giving up cash advantages, and they turned it into full-fledged loans. that is what investors were optimistic about. it was supposed to be the future growth of square. cory: that's a part of it, but i don't think that's unique to square. -- guest: i think that's a part of it, but i don't think that is unique to square. cory: they have not had a problem until now. emily: is it macroeconomic or? cory: it doesn't matter. if they can't sell paper, they cannot grow business. guest: i think it's true for that piece of the business, but i think there's a bigger story. they grew by 64% year-over-year. there are not a lot of publicly traded companies growing at that clip. they continued to expand product that is amazing for small businesses. i think they see themselves as essentially an operating system for small businesses. emily: let's talk about this. we saw results from paypal,
visa, mastercard, they all performed well. to first data, which seemed be more of a direct competitor to square, has been struggling. another company is actually doing well. online lending companies like lending club have complained wall street does not understand them. i was able to speak with the head of square capital. i asked, does wall street understands where? take a listen to what she had to say. >> i think financial technology is a new industry, particularly on the lending side. there is an evolution of understanding and appreciation for models that work and don't work. i do think there will be a bifurcation as we go through the credit environment of business models that have stood the test of time over the last cycle, and our evolving, and are strong business models. emily: do we need time?
but they are coming out as the loser. guest: i don't see that at all. they are killing it. , their newf products apis, that can plug into other applications, i think back and be powerful. again, i point -- a point i made squarepast, they have a -- a point of 70 which is often charge. a much broader suite of services and i think they see themselves as bigger as -- bigger than a payment company. emily: what are you optimistic about? cory: helping small companies manage businesses. help -- everything from scheduling services, to managing employees, managing point-of-sale, and doing it in a design that is more like a consumer designed product. i think that's one of the real
innovations. it's rare to find a company with such a combination of audit, design, -- product, design, engineering, talent, and a great managing team. cory: i would argue if you sell something for less than a cost, you will be very, -- popular with customers. that is what we have here. topline growth is fantastic. but if they cannot turn the capital business into the capital machine they thought, they cannot sell the paper. it will be a long-term concern, emily: -- and a big concern. emily: paypal is also try to get into the lending business. how well-positioned is square vis-a-vis other potentially more established players to compete? guest: i think they are in a good spot, because they had transaction data back and see the real status of the data. quarter soed this they can provide a brighter range of options. i don't see them competing with paypal so much they have
traditionally been more retail point-of-sale, although they are starting to go online. paypal is more doing lending on the consumer side, historically. perhaps it will get into the merchant site. i'm not sure they are direct competitors. emily: last word. cory: there is a $50 million settlement. a cofounder has been suing the company since 2010. they settled in the first quarter. it was a $50 million payment, suggesting the case was not good for them.it was a very big payment . that problem goes away, but it goes away at a substantial cost. emily: cory johnson always read the fine print. [laughter] thank you both. with earnings, alibaba shares got a 4% boost after releasing earnings early thursday. asia's largest internet company posted better-than-expected sales -- sales.
the reported new users and more mobile purchases, shrugging off concerns over the slowing economy in china. it is interesting, looking at the alibaba results. you can see them performing better than china at large. what do you make of that? guest: i think that's exactly the comparison. even if you are concerned about the chinese economy, which i am, the consumer in china is the least of your concerns. it is the transition from investment to consumption. nobody sells more to consumers or helps consumers buy more than alibaba. that is the strong result they had so far. if you are going to be in china, and get beyond the concerns about the overall economy, all of the -- alibaba seems to be a good place. emily: what about the acquisition strategy? alibaba has made big investments at home and abroad.
investors are putting two and two together about the grander plan. is that starting to emerge? guest: i think their investments are doing well. , that the portfolio, of investments that they don't consolidate is now worth $37 billion, just investments, including a big increase in the pay. of the owner of ali that part of the strategy is working well. they made a lot of money investing in zulily in the u.s. investments are doing well. the acquisitions are more about extending geographies. they made a bid for south east asia e-commerce provider, and they will consolidate that. that tells you where they are going. they want to expand and emerging-market. not to where they are buying and consolidating. that is where the strategy is. emily: what about the alibaba cloud? we talked about the amazon cloud, google cloud, apple.
but they are actually making big strides. guest: one of the things that differentiates alibaba from ebay of 10 years ago, is that jack ma and the leadership are paying close attention to what works for amazon. what works for amazon is getting into media, expanding the cloud business. there are following that playbook. they are following it well. they grew more than 150% this quarter from cloud business. from amazon, it was an incredible -- incredibly profitable paying point. emily: should we be more worried about the macroeconomic environment china? flow that catch up to alibaba -- will that catch up to alibaba? guest: obviously the data from china is uneven. it is not inconceivable that the consumer is there as well. that's one concern. the other concern to keep in mind is that they are losing
shares. believer or not, they grew 40% of the quarter, that is slower than jb.com. 10 years ago, ebay was bigger than amazon then, but jb is more like the amazon of china. they are growing a lot china -- faster. emily: what about international growth? there's a question of when alibaba revenue from international will be on par with what they see drastically. how far off are the? -- they? guest: it is going very fast. the consumer and cross-border company is growing fast. domestic business outside of but expectill smoke, -- it's still small, but expect that to change. their india business is going to grow as well. thank you, always great to have you here on the show.
staying with earnings, gopro swings to a d+ in the first quarter, the company posting an adjusted loss per share of $.63. sales sliding nearly 50% year-over-year. the ceo reiterated consumer demand remains solid addressing concerns that the, portable cameras market is close to saturation, and the company is challenged with challenging the base beyond the adrenaline addicted core. shares are down 21% of the beginning of the year. coming up, our european officials spending -- sending u.s. tax giants next messages when it comes to consumer privacy? we speak with the former homeland security expert, next. ♪
wealth -- an executive social announced in a cyber securities companies. a full year came in short of analyst expectations. they lost more than 20% of market value as the industry grapples with increased competition from new were cyber security started. we will get more into the numbers tomorrow and on the show, when he we speak to the new ceo -- we speak to the new ceo. earlier this week, brazilian officials shut down the face of messaging set -- service whatsapp. almost half the population uses it regularly. ceo mark zuckerberg called the action very scary in a democracy. it's just the latest example of how the world's biggest tech companies are under competing pressures from government to make their content accessible to local law enforcement. joining us to discuss the issue,
former homeland security secretary from washington. thank you so much for joining us. what we make of the issue around whatsapp in brazil, and what happened and why? guest: the issue was that a judge ordered whatsapp to turn over certain data that was present in the u.s., and u.s. law would have created a problem had the data been turned over. in order to put leverage on the company, the judge shut down whatsapp. it wound up hurting a lot of innocent people during the -- the three days the application was shut down. this was one example of a larger problem, and a world that is divided among sovereign states, but where data moves around the globe. emily: in europe as well, officials have complained about u.s. laws being outdated, and company policies preventing the work of law enforcement. what do you think the problem is? the problem is, our laws
are nationstate based. can control the law within its own domain. the challenge is when you are dealing with data, it is housed anywhere in the globe and moves around the globe. when a law enforcement authority wants to get data on a matter of investigating -- it is investigating, the issue for the company is, is the data in that state, is it in another state? you have competing or inconsistent rules of law. that was the company in a position, they are dammed if they do, dammed if they don't. worse for the individual consumer, who could see their application shutdown. they want to be third party victims to a fight between sovereigns about what law governs. emily: but aren't there mixed motives on all sides? look at the international outrage spawned by edward snowden. guest: sure. from one standpoint, you have countries that say, we don't
want to have this information turned over, because it reflects privacy issues. in another case, the country says we do want to have that information, because we are protecting ourselves from terrorism. recognize that in countries where, for example, or is not freedom of speech, the desire to get information to punish a political opponent might not be acceptable in the united states. we would be refusing as a nation to cooperate and turned that over. the question is, how do you come up with global standards that allow law enforcement with proper authorization to get access to information that prevents terrorist attacks, but not allow nations to impose views on political issues on other countries in the globe? emily: let's take the attacks in example.and paris, for what is the evidence that is law-enforcement had access to u.s. tech company data, that the attacks could have been prevented? guest: actually, what appears to
be the case is a problem was not let of access to u.s. technical the european a 30 had information and they do not follow up. it was reported -- the authorities had information and they did not follow up. the belgian authorities knew that they were planning something, and they simply did not execute in their own country. sometimes it is easy to blame these international differences for a failure of intelligence. in the case of belgium, it is more an internal and pan-european issue, then an issue that implicates american law. >emily: what needs to change? guest: i think we need to reach a common understanding about the law. if a country wants to obtain information about a citizen, said the law of the country's
citizenship prevail or should it depend where the data is? my own view, if it depends on where the data is, you are ultimately going to fragment the internet. every country will insist its citizens keep data only within the country. that destroys the global nature of the internet. what you want is a set of principles that says, a citizen generally has the right with proper authority, to get data about its own citizens, but if they want to get data about a citizen of another country, they have to comply with the rules that govern the country. emily: encryption, by most accounts, seems to be the way the tech industry is going. is there anything tech companies themselves should be changing as well? guest: the purpose of encryption protection here. we are making it harder for hackers are criminals to get the data and exploit it. those people who say we should weaken encryption so law-enforcement can get access,
are really agri--- arguing we should trade security of the money for instances when law enforcement wants to promote a particular case. it is always a mistake to trade up security in general to get security in one case. there are things that television -- intelligence and law enforcement officials can do, that is a very powerful set of tools to prevent terrorist attacks, and we have been doing that for years, and generally successfully. emily: what i'm hearing you say, secretary, is that a company like apple, moving in the direction of encryption, that they stay the course and do whatever it takes to make information more and more difficult to decrypt, so to speak? guest: i should say, we do work with apple, but i think the companies creating strong encryption, should be allowed, because they are protecting the
vast majority of people against criminals and terrorists. there are other ways law enforcement can get access to data. certainly, when a company has access to data, they should cooperate if they get the proper legal authorization. emily: former homeland security secretary michael chertoff, thank you for joining us. coming up, is the driverless car revolution right around the corner? and gm are teaming up to bring self driving taxis to a city near you. ♪
shares enjoying a nice lead in after-hours trading. rising --es also after company raised projections for the year, following better-than-expected revenues in the first quarter. they had $158.6 million topping estimates. amazon could take as much of a 30% stake in a large cargo carrier called atlas air. it is the second such deal this year as the company steps up efforts to take control of delivery logistics. i list will operate 20 going theo planes, doubling listing fee. shares of atlas searched as much as 51% at one point in thursday trading. coming up, we'll hear from the men ushering in a digital revolution in education, sal k
>> a look at top stories. japanese markets returning from a three-day holiday. ongoing pessimism over the global state of affairs. , willggest weekly lost snapping a two-day advance. the u.s. jobs report is due a little later on. jakarta, plunging 13% as markets reacted to the doubling of the recall on the u.s. 20 million airbags will be added to the recall. without-- they made it a desiccant to reduce moisture. they are unaware of substantial
risk from the products in question. the stop them lost more than 20% and the two trading days so far this week.aussie dollar dropping to record lows. the rba reducing the outlook for core inflation.the central banks quarterly statement seeing underlying inflation of 1%-2% down by one percentage point. this will be a key challenge for the incoming rba governor, who will succeed glenn stevens in september, with few policy weapons in his armory. 2400 journalists, 150 bureaus around the world, this is bluebird house -- bloomberg news. >> we've got a lot of anticipation ahead. payroll coming up later this evening. in the meantime, risk aversion selling off in the asian markets. we are seeing the eighth day of declines when it comes to asia. japan coming back online today, with three days of pent-up selling pressure.
the nikkei, down. shanghai, doubling. close to 2%. quite a bit of weakness from the -- hong kong. the 10th seeing straight session of declines, along with a losing streak in 30 months. we are seeing a little pressure coming off of sydney, off to the rba cut -- after the rba cut. we are seeing the kind of class -- across energy and finance sectors. goldman expects to see a downside of 20% when it comes to hong kong property prices. land is down by 3%. the other big mover today is the aussie dollar, taking a tumble. could not be any more clear.
rba cutting inflation forecast, 1% or 2%. really taking a nosedive. not moving much in terms of the u.s. job numbers. ♪ emily: welcome back to bloomberg west. let's turn to education and one man's vision to change the classroom with online tutorials, teaching everything from chemistry to cut kilis. -- calculus. now from mountain view, founder and ceo sal khan. great to have you. it has been over a year since we spoke here it you have record numbers of videos, tutorials, registered students. you must take on where you are now. looks like were having a little
bit of trouble getting you to hear us, so i'll ask again. it has been just over a year since we last spoke, it is great to have you back. give us an update on the business. you have a record number of, videos and tutorials. actually, i think we are having trouble with sal. we look at him situated, and talk about some other things first. it looks like comcast's purchase of dreamworks maybe paying off. the studio came out with a solid b on earnings in almost all categories. this is thanks in large part to the global pay-tv sales, and also the tv series and specials revenue. the letter writing over 200%. dreamworks shares have climbed 54% since the beginning of the year. disney ceo bob iger had a rare official meeting with chinese president xi jinping, months before the opening of disney's $5.5 billion in part in the
financial hub of shanghai. meeting, the president said relations between the two countries have maintained a momentum of sound development. sal khan, founder of the khan academy. it has been a year since we spoke. you have record numbers in every category. give us an update on where you are. sal: a lot of people associate us as kind of, with videos, and around math, but we are much more than that. we have had our partnership with the college board around reparation for the sat. without the data for this month, where we were the official prep. we have seen a 20% reduction in paid test prep. nearly half the students used academy for -- khan print.
it is much more than videos. we are tied into things like the sat, trying to get as many students as possible to become college and life ready. we are doing a lot on the international front. i was just in india. we are launching an indian effort. we are working with the foundation in mexico, and also in brazil, making served students have access not just a butos, in their language, to their standards. it is available on the platforms relevant to them, especially on mobile. is a lot going on. we continue to add more content. rishaad: you have also lodged khan the khan -- launched the khan labs go. it's like amazon opening a brick-and-mortar. but you believe it could be complementary to the overall effort -- platform. what have you learned? sal: our mission is a free world-class education for anywhere here take that seriously. the spirit behind starting a
physical lab school is, let's use that as a lab to understand what the best learning can be, where students learn at their own pace. students get more responsibility, they are building a portfolio. as we learn, we hope to share with many people and incorporate it into what is on the khan academy. i have already learned a lot. people think virtual and physical are in competition, but they are complement to. if students can learn to own pace and time, it frees up a lot of time during the day for more human to human interaction, and more projects. more peer tutoring. when you don't have everyone learning at the paid -- same pace, you can have a mixed environment. my own son, he's already able to mentor younger students. it really mature students in a and teaches,
metacognitive skills there may be more valuable than the math or science. rishaad: tuition is $22,000 a year, which is less than some private schools, to be fair, but still more than a lot of other schools. he also have elon musk starting his own school. you have mark zuckerberg giving dodge occasion and starting his own school. i wonder if we are back in the same position, instead of democratizing education, we have a public school everyone can afford, and a few elite schools that few people can afford. sal: i think the spirit behind a lot of the schools, especially the lab school, is there is a feeling that the model of education -- this is not just public schools, it's also the model and private schools. a factory model of a lecture, everyone is at the same pace, you get grades.even if you get a c in algebra, you are moved on to precalculus, and you have
gaps in knowledge. the students hit walls,, and they don't appreciate the creativity of a subject. there's an appreciation that will not serve students well for the 21st century. at khan academy, we have a two-pronged approach. khan academy itself, different from the lab school,, we think, let's share as broadly and widely as possible. it's free access for anyone anywhere. if you have nothing, you can access a low-cost smartphone. if you are part of the physical, lesser it could be more -- physical classroom, it could be more personalized. i think what elon musk is doing, is pioneering new models is a catalyst for other things. even at the lab school, we are working with the local public school districts. it's not just a one-way stream of information.we are learning about how together we can get the world with more portfolio based and have students have
more agency in their learning. rishaad: part of the reason we wanted you to come on his next week we will be in boston, talking about the tech scene over there, talking to people at harvard and m.i.t. you have three degrees from m.i.t. and harvard business school. you are one of the most decorated people in silicon valley. if you could do it all over again, would you get all those degrees? sal: [laughter] yeah. a lot of people ask me, what about college? it was just a hands-down great life experience. the people you meet push you to become better. boston in particular, really the whole town feels like a big college campus.it really pushes you to become a better person, especially intellectually. rishaad: obviously, the online education landscape is evolving rapidly, in part due to companies like yours. how long do you think harvard are m.i.t. or stanford will be around?
will these institutions the around for hundreds of years, or how will they change? sal: i think they will be around for a very long time. i don't know, it's hard to predict 500 years into the future. i think they will be around for a very long time. just, no one would at all the type of research. that they are pushing forward humanity, whether medicine or science or engineering. i think the college experience or undergraduate experience will also exist, but that is where we will see pretty dramatic differences in 20 or 30 years. i imagine the college of the goes, ithen a student will not be about sitting in 300 person lecture halls and taking notes, and cramming for an exam.will be about becoming part of the community , building things, and the portfolio of things you build. that portfolio, that is your
transcript of the future. you leverage the community you will find in one of these places and the facilities, and the labs in order to build that portfolio. emily: khan academy founder and .eo, sal khan as always, great to have you. as i mentioned, "bloomberg west," is heading east. don't miss our coverage. we will be speaking to the boston mayor, here on bloomberg. coming up, big changes afoot for the media industry. we will hear from the ceo of vox media, about why he's creating an entire studio just for snapchat. ♪
emily: on the digital news front, vox media announcing an expansion into television, and making content for the discovery channel on snapchat. traditional news outlet are struggling to keep up revenues, and facebook and other social media are siphoning away dollars. the ceo is here. you are doubling down. why and why now? guest: all of our growth is on mobile, generally. specifically in mobile, is on a few of the big platforms. e-mail is a mobile application. that's why you see us doing more e-mail newsletters. facebook is a great mobile application, and that is why we are investing in facebook. snapchat is one of the fastest-growing, visually dynamic story growing mechanisms. we have a great brand and we those brandssh all
and take advantage. we are really excited to be investing more in snapchat. emily: answer with these evolving partnerships, was this your idea or snapchat's? guest: that's a good question. i'm not sure who came first. they were aware of the great brands we were creating. we are a new generation of brands designed for digital audiences and consumers, who tend to be young, young adults. they tend to be highly engaged in new media. we got to know one another. snapchat is going out to all the best content programmers. they love our brand and we love them. it's a great partnership. emily: everyone is still trying to understand how the platforms are evolving. what works better for vox on snapchat, text or video? guest: i think visual more generally. video certainly, but also great graphics, great photos, things that visually appeal.
, but are part of the next what really excites us about snapchat is it is a new form of storytelling. it involves the deal and photo ifs, great sound and sight motion things. it's exciting to see if you can get audiences to engage on their terms. it's not as simple as a tv channel, which is also video, but audiences want to engage in a new way. we pride ourselves on being great storytellers across multiple platforms, whether snapchat or facebook or a website. emily: on that note, you run a different websites including the verge and eater. invest in the traditional way on these new platforms, given how quickly the media landscape changes? guest: that is an important question. we pride ourselves on being able to change quickly. media, we at vox
think of ourselves as an organization that strives not just to embrace change, but to really thrive in change. that means having strong core values, but holding onto those values, and being able to try new things and experiment. we tend to experiment particularly where we know there are big audiences that will be receptive to the brands that our stories are telling, receptive to the marketers that we work with. we allocate resources. we allocate capital. we take bets, scale up, scaled-down where necessary. -- andlves looking a lot a lot of data and understanding your audience and skill set, and always being alert and ready for change. we have to be prepared to allocate different lead based on what we see. emily: vox is launching its first tv show. what is the overall vision here? guest: we are excited. we talked about how to program to the snapchat audience. part video, part visual.
it's a different storytelling medium we are excited about. television is a storytelling medium that a lot of people are interested in as well. whether it is snapchat, whether it is television, whether it's a website, facebook, or any other thing that comes along with we see any big audience potential to have our brands speak to audiences, we will be there. in the fyi partnership, we are excited about it. it is with our housing and real estate brand, and we will tell exciting stories. it will tell stories about big housing trends. stories that we really know well. we are excited to partner with fyi, that really knows tv well, and program to a new set of audiences. emily: last question. busby has been in the spotlight. it has had an incredible --
been in the spotlight. they had an incredible ride. they can post a video of a --ermelon and put in exploding, and a million people watch. but it speaks to the fear that these busby sides are just a flash in the pan. how do you balance that with eight different properties? guest: we are building our properties for the long haul. focused onnot edality storytelling, buzzfe is a great company, but there are companies that are not focused on the long-term. i do think they will have more trouble. we are a multi variant company intent -- multi brand company intentionally. whether it is eater or the verge talking about technology, each brand is the leader and subject matter expert for digital programming. you can look to the great magazine companies that started,
or the great cable companies. each focus on a category, whether it is recode in business tech or espy nation in sports. we want to focus on consumer categories and deliver quality. content of advertising. it helps us to stay in. emily: thank you. vox media ceo. thank you for joining us. we will be right back with more "bloomberg west," after this quick break. ♪
have the chance to opt out. joining us now, our bloomberg otto porter david welch. reporter, david wells. how will this work? the details are sketchy. it will be a stretch within a year to get a fully autonomous car. you could have a car autonomous, that does not need a driver, but there's still a driver in the car to make sure nothing goes wrong. within a year, you are going to need regulations and rules from the government on how driverless cars can even be used, and that is not in place yet. it will be very difficult to see how within 12 months they will get it done. but if they do it, you just get picked up by a car with no driver, and it will take you where you need to go, and then someone else will buckle car, and there it goes. emily: we were just talking about google's deal with self driving minivans. we are talking about it every day. and how many years why vehicle to push a button on my phone, get into a self driving car, and
actually feel comfortable? reporter: i'm not sure how quickly you personally will be comfortable, but for the rest of us, i think it's a few years out. the technology is close to ready, but not quite ready. general motors has a cadillac with a feature called super sruise, which is not completely autonomous. you can cruise on the highway, but it doesn't recognize the stops in intersections.fully autonomous technology is not quite there for the roads, and the government has not figured out how to regulate it, or what the testing requirements are. you are looking at i think a few years out before that is really widespread.you will see some test lyfts, like this one that and general motors hope to do, that will be at least a year out. autoy: our bloomberg
reporter in detroit, thank you for joining us. it is time to find out who is having the best ever, or the worst in this case. it is the bitcoin self proclaimed founder. it looks like he's now backtracking on his statement -- statement. cried right writing on the blog that he does not have the courage to provide additional proof, showing he is indeed the creator of the company. that does it for the rest of "bloomberg west." tune in this weekend. we will bring you the best of all of our interviews, including my conversation with the father of the videogame industry. the best of "bloomberg west," this weekend on bloomberg television. ♪