>> from pier three in san francisco welcome to bloomberg west, where we covere the global technology and media that is reshaping our world. this weekend we bring you a special year-end edition of the best of west. over the next hour we showcase some of our top interviews with the power players in technology and media from the last year, including the ceos of linkedin,'s ebay and disney to highlight just a few. we spoke with industry innovators about the future of technology. we begin with one of the top stories and companies of 2013,

twitter and its ipo. the social blogging site began trading on the new york stock exchange. the seven-year-old company has had a storied history, its cofounders came together to celebrate the next chapter. they were joined by twitter's ceo dick costolo. i caught up with him on the floor and asked him about the ipo process. >> i think the thing that surprised me most about the ipo process is the almost spectacular understanding of the service that so many of the investors we met with across the country had. i would go to meetings with potential investors and these are meetings were i am going in to sell them and they would show me tweets from folks like sean

lennon tweeting about what got him into house arrest in china. all sorts of examples like that, so the opportunity to talk to people who you're trying to help understand your vision and have them show you why they already know it is so important is obviously tremendous. >> let's talk about making money. you and i both know that you can turn on the profit whenever you like. what would tell you that it is time? >> i think we believe we have a tremendous amount of investment we want to do in service to the kind of strategy that we already know is working for us. twitter and tv work we have been doing. twitter has increasingly become the second screen for the live experience, the second screen to what people are watching right now. continuing to invest in that, making sure we have the right team on the ground internationally to invest in unique regional content and

driving that unique regional content internationally into the platform to make sure that we are the outlook real-time -- public real-time conversational distributor platform. >> that is really important because most of your users are international. >> yes, over 70% of our users are outside the united states. >> it was expensive to recruit pre-ipo, how does it not get more expensive? it is competitive out there. >> one of the things i try to talk to the company about is setting a broad direction, a specific direction but with some broad room for them within which they can innovate. it is very important to me that the innovation, the specific ideas that are developed within the broad direction are built from the ground up. when you have the opportunity to within your team build an innovation that you conceived of and take it to the senior management team and you have the authority and accountability to deliver against that thing you

conceived of yourself, that is tremendously motivating and an incredibly motivating work environment. >> you told me getting to a billion users is more important than a billion dollars in revenue. in terms of users, some people still come to twitter and are confused. it takes time to figure out who to follow. how do you improve that from the perspective to get to a billion? >> once you get it it becomes indispensable to them. people tell me when they get up in the morning it is the first thing they do. it is an indispensable companion. it is a live experience. so many people already understand that. for us it is all about bridging that gap between the massive global awareness of twitter and engagement on the platform, getting people to that moment where they realize it is an indispensable companion. >> a lot of people are going to make a lot of money today.

>> a lot of numbers being shouted around. >> in terms of the culture of twitter, how do you keep it from affecting the culture in a bad way? >> one of the things i told investors over the last couple of weeks is, with over 2.4 billion connected people in the world, we're less than 10% penetrated. everyone in the company has five or six examples of why the know the service could be so valuable to anyone and why should be valuable to anyone in the world. for all of us we have an extreme focus on bridging that gap and reaching every person on the planet. >> a lot of drama about the founding story of twitter. from your perspective, how fair was the portrayal?

was that really how it played out? >> we have so much work to do. we have so much work ahead of us in service to fulfilling everything we know the company could become, i have zero time to look back over something that happened three years ago and think about it or even have thoughts about whether i think it is something to pay attention or not. i could spend 18 hours a day -- 28 hours a day focused on the road ahead of us. >> you only have 24. >> and thus the comment. there are four hours that i already don't have. >> given the turmoil of twitter, how confident should investors be that that is really behind you guys? >> we have a management team with a spectrum of experience across the media and technology landscape.

the cfo previously to that zynga and yahoo!, our coo is previously at pixar. i could go on and on. i could keep enumerating and go a couple levels down in the company. we have every confidence in the team you establish now. -- we have established right now. we work together well. think we have healthy conversations in our staff meetings. >> how long do you want to keep doing this? >> i haven't given that a moments thought and i don't think about my life that way. one of the interview questions i would get in the past is any company or job i would go to is where you see yourself in five years? i don't think about my life that way. what we're focused on right now

and all the work we have in front of us, that occupies entirety of my perspective about my work. >> that was twitter ceo speaking with me. while the company did face criticism for not having a woman on its board when it went public, it has since added marjorie scardino. star wars fans await the next installment of the series. we talk to disney ceo bob next on "bloomberg west." >> this is "bloomberg west."

i'm emily chang. we're bringing you the best of our coverage from 2013 and that includes an interview with disney ceo bob iger.

our jon erlichman spoke more about star wars and it's really its release date for december 2015 with disney's ceo. >> this is obviously one of the most important films that you are working on right now. one of the things that was very important to us was that we give the creative team, jj abrams and his writing team, the time to design, write and produce the film so that we can optimize quality or so that we can create a great film, so they can create a great film. very very important. at one point we considered the summer of 2015, but it felt like with some changes that we made in writing team that that was going to create a rush and so we didn't think he was optimal for obvious reasons.

christmas 2015 became the day. it happens to be the day that avatar which is the number one movie of all time was released. we like that, certainly it will hopefully bring us good luck. christmas is a good time we think for a film like star wars, which will have obvious interest from young and old alike, for everyone. >> no doubt. obviously these films are an anchor for other parts of the disney empire. there has been so much discussion on blogs about the exciting things you reference last quarter coming at disneyland. some people wondering if tomorrowland becomes star wars land. anything new you can share on that front? >> the only thing i can share, which i don't think we have really talked about much, is there is a fair amount of development going on at disney imagineering right now to expand the star wars presence in california and in orlando and eventually in other parks around the world. we will -- we do have star wars in other theme parks, france,

paris and in tokyo. we haven't made anything specific -- made any specific announcements and what will be in shanghai or hong kong after we build an ironman attraction, but i think it is probably likely that star wars will be in more than just our two domestic parts. -- parks. >> all right, thanks for sharing on that front. you have earnings today. star wars release date and you started the day with this announcement of a new deal with netflix for original tv shows type to the marvel characters. there was no financial attachment or numbers tied to that deal, but how financially significant you think a deal like that could be? >> there are numbers, i promise you. we are getting paid for those. this is a really smart deal we think for netflix because they have done well already with some investments in original programming and turning to branded programming i think is a

smart and big step for them. marvel certainly provides that. this gives us an opportunity to create and own four new series that netflix will have exclusivity for for a. -- for a period of time, starting in 2016 when the series are made available to them. we are obviously getting paid a price that makes sense for us. we are not going to be specific about what that is, but these will be well produced series that will take production investment to deliver the kind of quality that we promised netflix and so from an economic perspective the money we are being paid is something that makes sense to us, given what will be the investment in production. >> were waiting for an update and contract talks from one particular pay-tv operator. anything you can shed in terms of would you like to get the deal resolved soon?

>> what i can say is that we have had ongoing negotiations. they have been quite part of -- productive. there are still terms that are to be negotiated and it could take a little more time, but we are reasonably hopeful that we will be able to nick concluding conclude negotiation and hopefully avoid a program interruption. but nothing more to say in terms of when to expect a deal to be done. >> we think about what if apple comes out with a full-scale television. you are on the apple board so you can't talk about that, i know. but do you think a single device is capable of transforming the entire media landscape given that we are already seeing a number of new devices for watching television? >> you're right, i'm not going to comment about apple, but look , there are things as game

changers in this is news. -- business. when apple first came out with its ipad, the tablet, that it was a game changer. when you sit in a meeting look around the table and there are 20 people there and everyone has an ipad, and it is only a few years since it was launched, that says a lot. we forget that a few years back these didn't really exist and now they are ubiquitous. they are very important parts of our lives, whether it is to be entertained or informed. can there be another a game changer? yes. in what form it is i just don't know. in television, i think mobile has been a game changer. its impact is just going to be felt, though. -- starting to be felt, though. it has been a game changer and i think it is suddenly causing the entire industry to think about providing its product in ways that go well beyond the home.

why that is a game changer is that suddenly the consumer has the ability to consume more because they're not going to be confined to one place or one space. there is nothing that will confine them. if you are creating content, that is a fantastic game changing development. i think it is a good time to own intellectual property. is not for the faint of heart. you have to be really willing to adapt to change, to challenge your old business models, to abandon a status quo strategy because it is not a winning strategy. >> disney ceo bob iger talking with our west coast correspondent jon erlichman. he is the cofounder of paypal and yell. what is his latest venture? ♪ >> welcome back, i'm emily

chang.

this is "bloomberg west" streaming on your phone, your tablet and bloomberg.com. paypal cofounder max levchin. he is the chairman of yelp, yahoo! board member and a founder of a firm. he began a conversation talking about how he thinks global apps may change the world. -- glow's apps may change the world. >> i'm not sure why it is so expensive and there are a lot of good explanations but i'm pretty sure we have to make it cheaper or we will spend all her money on that. -- our money on that. we chose infertility because it is particularly a poorly covered area for health insurance.

if you don't live in massachusetts odds are good you are not going to get covered for any in fertility treatments. we wanted to build an app that helps people conceive naturally, increases their odds of conceiving naturally faster, to reduce their out-of-pocket costs of conceiving. glow first, a companion product is a help fund. this subsidizes infertility treatment. >> it's $50 a month to join and if you conceive you don't get any money back but if you don't conceive, you get some money back. $50 a month is not cheap. >> is completely optional. don't have to do that if you're confident that you can see. it is essentially like an insurance policy. it is a blueprint of what the

health insurance policy -- with health insurance in this country should look like. to fix health and health care we have to arbitrage prevention and knowledge against correction. by the time you know something is badly broken we are facing massive bills or your insurance is facing them. if you leverage data by yourself, put it into a database that can be mined with other people's data, find out what going to happen to you, you can at least prepare for it, either save or pool with other people or buy more insurance. that is the way to fix it. >> i want to ask you about yahoo!. came in right after marissa took over. talk to us about the m&a strategy. it seems like yahoo! has bought five companies every day. >> it's definitely inappropriate for me to comment. i think they are building up a new yahoo! and they are doing a pretty good job. part of it is acquiring talent and smart young driven people

that are attracted to the fact that the company has bets to place and think of yahoo! as a place to have a bigger lever. >> critics have said these companies that yahoo! is buying failed. why would you want telephone -- talent from companies that struggle to make it? >> i think it is about as generalized a statement as one can imagine. the one thing i can tell you about the yahoo! strategy is that they look at an incredible number of possible acquisitions and choose to acquire an extraordinarily small number. the ratio of pored over with a fine tooth comb and the actual check being written. i'm confident. >> you're a guy who loves starting companies. how confident are you that the

people you're bringing and want to stay and want to be as passionate at yahoo! as it were about the company's? >> i think that is ultimately more on yahoo! than on those people. as long as marissa continues to deliver as she has on setting a big vision, pouring out huge goals, and taking big bets and really trying to reestablish yahoo! as a shining example of what a successful silicon valley company looks like, people that choose to go would have no reason to leave. >> i want to talk about the thinking innovation. elon musk just unveiled the hyperloop. is set real or is he trying to make a point? >> i think it is both. i think elon has shown time and again that the boundary for what is real for him is fuzzy.

there is one guy in the world i would trust to take it from making a point to making a real. it would probably be him. >> if this never happens, does it matter? >> transportation is one of the world's biggest markets, expenditures. there will be innovation there. the thing that makes entrepreneurs special and what i aspire to do is just looking at problems that are massive, where most people would say we are not touching that. elon and his transportation projects in my own world, health care, people don't want to touch it because it is so crazy big. that is exactly why we want to go after. i suspect he would do something and if he doesn't somebody will. >> one less question about your book which you wrote -- which you are going to write. you said you didn't end up writing it because your views

differ on innovation. what did you disagree on and could it ever happen? >> the book is still in progress. he is finishing the book on his own at this point. the biggest -- i wouldn't call it so much a disagreement as priorities shifted in our lives, gary's part in the book was written much intellectual analysis of how this country went from being clearly at the forefront of innovation 50s, 60s, 70s to a bit of a slump in the 80s and 90s. that analysis still holds relatively true. in the last few years in silicon valley, i felt less and less easy saying innovation is dying, innovation is dead, which i had said on the record a while ago. at this point, between my own projects and elon's projects and all the things i'm exposed to as an investor and advisor, it is not true anymore. >> maxlevchin, paypal cofounder and ceo of glow.

we visited ebay. i sat down with the seat he know -- with the ceo. ♪

>> you're watching bloomberg best were we focus on technology. i am emily chang. we went on the road to a number of top tech companies, including ebay. i sat down with john donahoe. we spoke about everything from how the company has doubled its revenue in the last five years to the introduction of same-day delivery service, ebay now. i even ordered a pair of gloves using the service during the show. i asked about his goals for same-day delivery. >> we have done this year is in three cities, we have partnered with retailers so that when you have a situation and you want something like today, you want

those gloves, and you don't want to wait, you want them now, you go to ebay now and the courier will have them for you within an hour. >> when i downloaded the app, there were only a few reviews. why not tell us how it's going? >> we are building a new consumer experience. the consumers that are use it == are using it like it a lot. we think it is successful and we have gone from one market to three and three to five. we just bought a company called shuttle. they will help us expand to 25 cities across the u.s. >> amazon made headlines talking about delivery by drone. >> we are not focusing on long- term fantasies. >> google has a shopping service.

do you think -- how you have an edge on that? >> we have 130 million active consumers. we have paypal which makes payments easy and safe. we start with an enormous advantage of an ecosystem and a willingness to partner with retailers, not compete. there will be people trying different innovations. our focus is on delivering a great experience to consumers of here and in the world -- around the world. >> when we talk about googles moon shots, are they important? is it important to have a moonshot mentality? >> bold innovation is important. our focus is around commerce. the notion of making a storefront window a touchscreen, that is a bold innovation. the notion of saying you can get it delivered within an hour,

that is a bold innovation. what we were doing in mobile is a bold innovation. we will do $20 billion in mobile commerce this year. by having those moon shots be focused in our area of competence, they can be very important. >> paypal is 42% of your revenue, when does it become the majority? >> it is only a couple of years out. what is great about paypal is a it conserves the entire commerce market. what paypal is doing is helping making payments safe and easy. we are the clear leader in mobile payments. people like to shop, no one wants to really pay. paypal makes it easy to shop and making the payments just a frictionless experience. >> you bought braintree. what is a strategy going to be for next year?

will it be more small acquisitions? will it be bigger bets? >> braintree is a great example of what we were talking about. braintree powered up uber. you are shopping, not paying. braintree powers those examples. it will continue to grow. we will bring the same principles to the off-line world. which we announced, i had my mobile phone and walked into starbucks. it recognized that i walked into starbucks. when i got to the front of the line, the barista had my name on the cash register. she said, john would you like to the usual? she pressed click and i got a text from my mobile.

>> what about china? alibaba just processed $5.7 billion in sales in a single day. how do you get in on that action? >> we have a strong export business in china. we enable chinese sellers to reach consumers all over the world. this year, we will do $6 billion to $7 billion in volume of chinese sellers selling on ebay and reaching consumers all over the world. we are not competing in the domestic market. we will look at that over the next many years. >> that was john donahoe as part of our special inside ebay. we also went inside linkedin. we spoke about maintaining growth and adding more users. that is ahead. >> this is bloomberg west, i am

emily chang. in 2013, bloomberg west want on the road to the headquarters of linkedin for an inside special. cory johnson spoke with the man behind some of the companies most recent milestone, hosting president obama, and reaching more than 225 million members. corey asked jeff weiner about what challenges existed. >> the challenges are similar now. we need to be focused. it is so easy to be distracted by the opportunities you have. managing hypergrowth is like putting a rocket and space. if you are off by inches you can be off by miles in orbit. understanding what you are about and being true to that, making sure you have a firm foundation

and have the right team, you have to have the right infrastructure. that has made a huge difference for us. >> the company was going through fits and starts. the growth continues. how is that managing challenge so different from managing a general electric or something? >> with regard to the speed, it is making sure you are prepared for the variables. it is a dynamic environment. you have to be comfortable with change. we talk about focus a lot. we created an acronym. fcs. those three factors have a lot to do with us being able to traverse that kind of speed.

>> you do regular town hall meetings. why? >> open communication is so important. it comes back to this notion of managing speed. the more optics we can provide to our employees, not only what is working but what is not working, the better we can come together to improve the things that need to be improved upon or to learn the things that are working and continue to invest and share that across all 26 cities we operated around the world. >> you're a public company. i see employees with boxes next to the desk, it means they are growing so much that they're

moving from desk the desk. it is hard to maintain a culture that way. the old-timers are not the center of things. how do you maintain that? >> this building is brand-new. we do have people taking on new space. it begins with culture and values. it is about taking time and investing in our culture and values and defining what they mean. culture is the personality of our work environment. adding that element of aspiration gives you permission to dream of that about the kind of organization you want to build. values of the operating principles to make decisions. once you understand those elements, your organization, you have to hire against it and develop against it. it is all about the leadership manifesting it day in and day out. it is not enough to put on the walls. >> what is this place like? what is it like to work here? what do these people like? >> the first word the comes to mind is transformation. it is a cultural transformation. we think about transforming the trajectory of our employees careers.

we think about transforming the company and realizing the platforming. we think about transforming the world. >> how do you organize your day? >> my day -- i try to break it down across two dimensions. one is coaching our people and making sure we can get the best of our people. we don't want them to just solve problems, they will need to cascade how to solve those problems for their teams. coaching is a big part of it. thinking proactively and strategically is another part. i cannot imagine growing a company. how you break out time for that? >> several years ago, i felt like i was back on my heels with the schedule. there were so many things i had to deal with.

you need time to catch your breath. you need to think proactively. you need to sit down and understand what is motivating people. that takes so much time. i started having buffers in my schedule. you will see in my calendar big gray spots. it is not a mistake. i am blocking out two hours a day, 30 and 60 minute blocks, so i can think and get my stuff right. >> that was jeff weiner with cory johnson. google has driverless cars. what is a big thing they are working on? that is still to come on bloomberg west. ♪ >> welcome back.

i'm emily chang. this is bloomberg west on bloomberg television. it is always important to be thinking about the next big thing. that's what we asked some of the top minds in technology at this years summit in half moon bay, california. he is the google fellow known for working on a driverless car. he cofounded an education start up. i sat down with him for inclusive conversation. >> i want to start with the google car. we drove around at a few years ago. give us an idea of how it is going. >> it's going great. four or five years with no incident. it drives better than a human driver.

>> when are these going to be on the road? when can i buy one? >> it will be less than five years. >> let us talk about innovation. you are a guy who has a wire into engineers and designers and aspiring entrepreneurs. you are a big thinker. how good do you think the innovation is that we are seeing in the ecosystem? are you disappointed in it? is it too focused on social and mobile? are entrepreneurs thinking big enough? >> i am proud to be an american at this point. not everything satisfies me. there is a lot of great stuff going on. i like to bring innovation for incremental work to world changing ideas.

i talked to ed lu, he wants to defend the world from an asteroid attack. changing education, the medical field and medical science, changing transportation, these are big things and i am proud we can do them. >> elon musk founded tesla and paypal, he makes entrepreneurs feel like they're not thinking big enough. do you disagree with him on that? >> i think most of us are not thinking big enough. we are thinking logically. his first principal reasoning is a college education should cost not cost $50,000. you should monitor yourself before you need to go to a doctor. there are so many things that need to change. >> should entrepreneurs be focused on the internet or other

industries? like energy, education, space? >> yes. there are big topics that need our attention. there are big things we can solve. the really great entrepreneurs go out with something new that people think at the time is crazy. all of a sudden it becomes commonplace. it becomes possible. there is a utility for them. >> you want to bring higher education to the masses. how is that going? remind our audience what it is you do. >> we were the first to start online classes. we had 160,000 students. at the end of that we had credits. that is the barrier that exists. it puts you from a fringe product into the mainstream.

the degree is a top-notch university. it is a computer science degree. it costs about $6,000. that is 15% of the regular cost. tuition has become so high, we leave kids with $100,000 worth of debt. kids are afraid of starting a family because of debt. >> you work at stanford. you also know the value of higher education from an established institution like stanford. how do you balance that? >> if you look at institution like stanford, they are

wonderful institutions but they are small. they are by choice very small. if you're small you can do things you cannnot do with big things. what is missing is scale. none of our students would make it to stanford. they would be left out. reaching people that would be left out of high-profile education can change the world. >> sebastian draughn at our next big thing summit. another notable highlight was seeing how tech can help the paralyzed walk again. we will see that next on bloomberg west. ♪ >> this is bloomberg west, i'm

emily chang. another highlight from our next big thing summit was seeing how technology can make the impossible possible. xo bionics makes a robotic suit that helps paralyzed patients walk again. it is been on the market for over a year. it rehabilitates patients. i spoke with their ambassador. he is paralyzed himself. here he is, demonstrating how it works. >> let's see what you can do. you're all suited up. how does it work? >> are you ready? >> yes. >> there you are.

how does it feel? >> it always feels good to stand, it feels fantastic. i feel connected again, when i'm standing upright. >> how long does it take before you can take a step? >> i am ready to go. >> i want to see this in action. >> one foot in front of the other, that is amazing. when you first did this, what went through your head? >> the first thing is how important it is to connect with the world at eye level. when you're in a chair, you are

looking up. the other thing you notice is how comfortable and stable you feel in the device. there is a period of time where you find your balance again. your relearning to walk. it feels good. i sense a vibration through my legs when i am walking. it helps and that helps me regain a sense of balance again. >> what is something you have not been able to do yet? >> the dream is over my left shoulder, to play golf again one day. for everyday use, just being able to walk around and go upstairs, go around my home and keep my body in shape. right now it is for rehab purposes only. that is extremely important, just as you might go to a gym i would use this device to stay in

shape. >> how long before you can play a round of golf? >> i don't think that long. at the pace of this technology. >> demonstrating how technology can make a man walk again. that does it for the best of bloomberg west. you can watch bloomberg west monday through friday. you can always catch bloomberg television streaming on your phone, tablet, and bloomberg.com. ♪ >> we are finding it, we are

testing it, we are there as they build it. we are on a quest to show you the most cutting-edge companies on the brink of the future. tonight, we dedicate the entire episode to a brand-new city, built green from the ground up.