>> welcome to "lunch money." i'm adam johnson. take a look at the menu. here's what we've got. the president walks in to the gap. this is not a joke, he means business. george soros says, forget the euro crisis. the euro has bigger problems. it in politics, marco rubio with a new course after regrets on immigration reform. and property, how to build a $20 billion neighborhood. in innovation, meet the man who wants to take a bat wing suit for a ride off mount everest. that is crazy. we will kickoff with a special happy birthday to the world wide web.

www turns 25 today. if you do a google search, you'll find there are several dates to celebrate our eternal love of the internet. today marks the 25 years since a proposal to improve the flow of information. "a web of notes with links between them." the international governing body over the internet declared www technology free and open to everyone. >> everyone in the world can have access to some basic service for an affordable price or for free. we think we can do this in a way that gets people access to some basic services. while increasing the overall number of subscribers. and profits so people can invest more. >> mark zuckerberg talking last month about internet.org. he wants to bring the internet to billions of people all over

the world. what a wonderful way to celebrate the 25th birthday of the world wide web. >> trust is such an important thing when you think about using any service. where you're going to share personal and important information, and we continue to work to make sure that we can share everything the government is asking us. >> yeah. that's that nsa surveillance thing. i guess that does dampen the world wide web birthday a little bit. tim berners-lee wrote a call to arms today in the google blog. he wants internet users to answer, how can we build systems of checks and balances? high-tech community wants this answered as well. you might recall companies like google and facebook being not so happy when they found out the government intercepted some of their traffic. >> they did not knock or call.

they didn't send a letter. they just visited. [laughter] >> they visited. eric schmidt has been vocal about the spying issues. today he wrote, "over the next decade, 5 billion people will become connected to the internet. the biggest increases will be in societies that are severely censored." they went on to say, it's possible to and repressive internet censorship within a decade. it if we want the next generation of users to be free, we don't see any other option. they wrote about the issue of trust being the most fundamental issue. yahoo! ceo marissa mayer cannot agree more. here she is back in davos. >> transparency. the ability to warn others so we can help our users understand exactly how many requests we are getting.

the range of types of requests we are getting and how that data is going to be used. we need to be able to rebuild trust with our users. >> do you feel that trust has fallen because of this? >> i definitely think so. not only within the u.s., but internationally. there are other countries that have concerns about what the nsa is looking at. i think transparency is something that would ultimately help this. >> i bet we can find one more person out there who wants a free and open internet. >> when we think with what is happened with the nsa in the last decade, the result has been an adversarial internet. a global free fire zone. nothing that we have ever asked for. it's not what we wanted. it is something we need to protect against. >> edward snowden cracked open this massive can of worms last year when he exposed the nsa data tracking.

it sparked a firestorm in washington. here is one voice that was loud and clear. >> the whole purpose of this program is to provide instantaneous information to be able to disrupt any plot that may be taking place. it has not been abused or misused. it is carried out by very strictly vetted and professional people. i think a lot of the privacy people perhaps don't understand that we still occupy the role of the great satan. new bombs are being devised. new terrorists are emerging. a new level of viciousness. i think we need to be prepared and we need to do it in a way that respects people's privacy rights. >> that was dianne feinstein. the chairman of the senate

intelligence committee. she has defended the government data collection programs in the past until yesterday. >> after a series of meetings, i learned that on two occasions, cia personnel electronically removed committee access to cia documents after providing them to the committee. this included roughly 870 documents. they were removed in february 2010. roughly another 50 that were removed in mid-may 2010. this was done without the knowledge or approval of committee members or staff. in violation of our written agreement. >> it seems senator feinstein now in a fight with the cia over the agency's fiddling with her computer network set up for the

committee to investigate treatment of suspected terrorists. she accused the agency of improper and possibly criminal actions. u.s.the panel that minors intelligence gathering is being monitored according to the senator. >> the recent actions that i have just laid out make this a defining moment for the oversight of our intelligence committee. how congress and how this will be resolved will show whether or not the intelligence committee can be effective in monitoring and investigating our nation's intelligence activities. or, whether it can be thwarted by those we oversee. >> marco rubio is a member of feinstein's intelligence committee. we asked him what he thought about her accusations. >> i think that story has two sides. i think it's more complicated than what's being put out there. at the end of the day, there

should be an impartial investigation as to what happened. you may end up finding out that both sides are to blame here. that both sides committed mistakes. >> we will hear more from senator rubio later this hour, including speculation about his potential presidential bid. so the cia hacking dispute is timely. given the 25th anniversary of the world wide web. one of the women who worked with tim berners-lee in the early days of the web wrote that governments are playing fast and loose with our personal data. if it goes unchecked, it will destroy the web and set nations against each other and against their citizens. there are other important national matters. president obama hits the gap with a message. something you cannot buy at gap. a drone capable of shooting a dart which can stun people at up to 80,000 volts. we will show you, coming up. ♪

>> this is "lunch money" on bloomberg television. also streaming live on bloomberg.com, your tablet and your smart phone. i'm adam johnson. president obama goes shopping. the leader of the free world went to the gap. he was not just there to buy dad jeans. here it is in the raw. >> i am here at the gap because a, it never hurts to bring something back when you're on a road trip. you get points when you get home. gentlemen, i want you all to take that tip. a lot of you heard me talk about

the importance of giving america a raise. corporate profits are doing well. stock market is doing well. for a lot of folks out there, they have not seen a raise in a long time. their incomes are flat. not only do i think it's critically important for those in the federal government to make sure they are paying $10.10 an hour, i'm pushing congress to pass a federal raise in the minimum wage. what i also said was businesses could take initiative to make sure that folks are not living in poverty. >> obama plans to flex his presidential powers tomorrow, signing an executive order on overtime pay. the order will direct the labor department to modify rules so that more people will be eligible for overtime. overtime must be paid to salary

workers earning less than $450 a week but can be denied to workers who are considered executive, administrative or professional. the move would be the mark -- would mark the latest in a series of his ticket orders from the president who said he plans on using the power of his office to make changes. obama is trying to boost pay for all workers by increasing the federal minimum wage to $10.10 an hour. the former chairman of saks fifth avenue spoke with betty liu this morning about whether that decision would actually hurt or help the economy. >> i think the issue of minimum wage is a complex one. the congressional budget office indicated that you could lose 500,000 jobs. there are alternative ways we could be addressing this. whether it's minimum wage or an income tax credit or alternatives in terms of helping the employees -- it's not a simple answer. >> it seems like a simple answer, according to the democrats.

you want to lift americans out of poverty, let's raise the wage. why is it so complicated for retailers? >> small businesses who are on the edge are going to have a very tough time with the minimum wage issue. most large companies are already paying above minimum wage. the issue here is one of -- it's going to have billions of dollars of impact. you are talking potentially employment risk. in the longer term, accelerated economic growth. if you have the economy growing, that creates more job opportunities. it's going to create the opportunity for more wealth at all levels. >> a new bloomberg national poll found that 69% of americans approve of president obama's call to raise the minimum wage. they are evenly split on his overall job performance. 48% approve and disapprove.

we should point out, this is up from december's 42% approval rating. the biggest positive change of his presidency. one thing that might help explain the upsurge, appearances like this one. >> it must end of stink that you can't run three times. >> it's a good idea. if i ran a third time, it would be like doing a third hangover movie. it didn't work out very well, did it? >> you know what i would do? i would make same-sex divorce illegal. then see how bad they want it. >> i think that's why you're not the president. >> do you go to any websites that are .com or .net or do you stick with .gov? >> we go to .gov's. have you held of healthcare.gov? >> here we go. let's get this out of the way. what did you come here to plug? >> have you heard of the affordable care act?

>> i heard about that. that's the thing that didn't work. why would you get the guy who created the zune to make your website? >> healthcare.gov works great now. millions of americans have already gotten health insurance plans. what we want is for people to know that you can get affordable health care. most young americans right now are not covered. the truth is, they can get coverage for what it would cost you to pay your cell phone bill. >> is this what they mean by drones? >> that clip has already reached over 11 million views since it was post yesterday. according to a white house spokesman, traffic on healthcare.gov was up 40% on tuesday. way to go. yesterday, the department of health and human services released its february numbers for the affordable care act. 4.2 million folks have enrolled now. megan hughes has more details. >> that's from october when the exchange was rolled out to march 1.

that's the big picture. to look at february specifically, those enrollments were down from january. 942,000 in february versus a little over 1.1 million in january. cbo projected that by the end of next month, 6 million people would be signed up. that is when the enrollment period closes. original projections were around 7 million. they revised it because of those problems with the website. bottom line here, hhs needs a huge final month to meet its goal. one other thing to point out, a key demographic did grow faster than any other age group. an increase of 268 thousand. still, slower than last month. >> investor george soros says there are bigger problems way beyond the euro crisis. coming up in innovation, we will go inside a u.s. factory that is building european helicopters. we will be right back. ♪

>> this is "lunch money" on bloomberg television, also streaming live on bloomberg.com. i am adam johnson. investor george soros was known for a legendary bet against the british pound in the 1990's. he made over $1 billion. that was in just one week. it happened as europe was trying to unify and bring about the euro which has been hemorrhaging from any number of crises over the last couple of decades. francine the class sat down with mr. soros today and asked for an update on europe's economic situation. >> the financial crisis as such is over. now you are facing political crisis. crisis has transformed voluntaryeant to be a

association of equal sovereign states that sacrifice part of their sovereignty for the common good. into something radically different. it is now a relationship of creditors and debtors where the debtors have difficulty in paying and servicing their debt. that puts the creditors in charge. it divides the eurozone into two classes. the debtors and the creditors are in charge. unfortunately, the policy that germany is imposing on europe is counterproductive. it is making the condition of the debtor countries worse and worse.

europe is already growing out of the eurozone. germany is forging ahead. italy is now falling behind. >> what about the u.s.? here is mr. soros on the american economy. >> the u.s. economy is actually relatively the best functioning. it is a reflection on the global economy. the u.s. economy has its own momentum. it's not following optimum policies at all. because of the internal political struggles which have not been resolved. >> you can watch the full interview with george soros at

bloomberg.com/tv or go to our award-winning app. marco rubio for president? his thoughts on a 2016 run. that is next. flying, we'llut talk about the daredevil taking taking his wing suit to the skies. specifically, mount everest. ♪

>> this is "lunch money." i'm adam johnson. today's moving pictures now, video is the story. two people were killed in an explosion in an east harlem building in new york city. the blast triggered a building collapse and a five alarm i are that spread to an adjoining building. more than 150 firefighters worked to contain the blaze. violence erupted in turkey after a teenage boy was injured by police last year. he died yesterday. the 15-year-old was hit in the head by tear gas cans last summer when police crackdown on a street protest.

his death has triggered protests in cities across turkey. in alaska, after eight days on the trail and more than 1000 miles covered, dallas seavey crossed the finish line to win the iditarod. a snowstorm with high winds slowed the lead musher. seavey's dogs ran a blistering pace to pick up ground. they took the top spot. congratulations. today in politics, florida senator marco rubio is shifting gears after feeling some heat from the conservative causes for supporting immigration reform. he is now focused on the u.s. economy. he sat down with bloomberg's chief washington correspondent peter cook yesterday. is that what we are facing here is much deeper than that. systemic do with

changes in the very nature of our economy. automation is real. people have found jobs that they once relied on to get that the middle class have been outsourced. the 21st century isn't just about challenges. it is also about opportunity. this new postindustrial economy creates opportunities. we are facing the full brunt of the challenges but we are not capitalizing on enough of those opportunities. one of the reasons is because andinstitutions are logged washington has not caught up to that reality. we are trying to treat this like a cyclical downturn in that of a change in the very nature of our economic -- >> marco rubio has -- >> you put tax overhaul on the table. how would you approach this issue differently? -- theink the focus fundamentals of what it takes to grow the economy are never going

to change. they are based on expanding access to markets, encouraging innovation and a parroting investment. my question, with a globally competitive economy, how do we position america to successfully compete? >> a little background, his parents are cuban. they came to florida in the 1950's. an immigration judge ordered rubio's father to be deported. his parents were eventually naturalized. for four years, rubio's father might have been undocumented. that may have informed his own views about immigration. >> marco rubio has things to is advantage but he also has that immigration issue hanging out there like a huge red flag for republican voters. he has to get past that to jump into the ring in 2016. >> what are rubio's in regrets

on immigration reform? >> >> we could not arrive at a better solution so we could get it done. it will be difficult to do anything comprehensive. people don't like to hear this but it's true. given the lack of trust in its president that republicans have. we will not round up and deport 12 million people. the debate is not even about that anymore. the debate is about, what should the consequences be for having violated our immigration laws? what is the process by which you integrate these people into the american society, and prevent this from happening again in the future? >> marco rubio, one of the top republican contenders for 2016. this is according to the irish bookmaker paddy power. in a close second, chris christie. at the bottom of the list, senator ted cruz. will senator rubio run in 2016?

>> the other consideration i have is, can i from that role, do a better role of advancing the things our country needs to be doing? >> you can much more of peter cook's interview on bloomberg.com or just go to our award-winning tablet app, bloomberg tv plus. coming up, the ceo behind one of new york city's biggest development, hudson yards. we will show you some of the most lavish hotel suites in the caesar's palace empire. ♪

>> in property, the company behind some of new york city's biggest developers. the ceo spoke to betty liu about one of the biggest projects. a city within a city. >> hudson yards is 28 acres of land that we control on the west side of manhattan. hudson yards will truly become the new center of new york city.

the new transportation going over there with the new seven subway line. >> how is that going? >> it's almost finished and it should open this year. >> back to that question, time warner is one of your tenants. >> time warner was our power and are -- our partner in time warner center. we recently purchased their office space back from them. we did that in partnership with two separate funds. they committed to go to hudson yards. they will stay in place for the next five years while we lease -- while we build the building. they will anchor our second office tower. the second tower will be 2.6 million square feet. it will be the third tallest building in new york city. >> what did it take to convince them to move over there? >> it did not take a lot, actually. >> fancy new buildings in new york to fancy buildings in las

vegas. hotel suites when only the best will do.

>> think amazon delivery drones

are controversial? a drone that shoots stun darts. the wing suit -- one adventurer plans to fly at the highest peak on the planet. ♪

>> in today's innovation, we are taking flight. first, the helicopter opened its first plant in the united states 10 years ago. the european company moved to the u.s. to gain access to government contracts. it seems to work. they're the largest helicopter provider to the department of homeland security. it also accounts for more than 50% of all commercial helicopters sold in the u.s. here's look at how these are made.

>> i work for euro copter because i like to fly. -- i like the product. i have been flying for 31 years. there are a lot of different models. i like the responsiveness of it. i like the power. it is the largest in the united states in terms of sales. we are a global manufacturer. we market it globally. the advantage for the u.s. market is, it is the largest helicopter market in the world. having this facility here is a tremendous advantage. to get to know your customer and be close to your customer. we are the largest helicopter provider to the department of

homeland security and provide aircraft to the border patrol and the u.s. coast guard. >> is used in the tour is a ministry a lot. and electronic newsgathering industry. >> it is a french-german company. we wanted to invest in this plant before we got any government contracts. so it was a showcase of investment in the u.s. a couple of years later, we won the army. >> here in our mississippi plant, we move into electrical and avionics where all of the wiring and electrical components are installed. the engines are one of the most expensive parts of the aircraft. the engines are provided to us by a vendor from texas. we are now moving into our testing and rigging area.

it is where we actually install the flight control hardware. then we move into flight operation. >> we love mississippi. it is a great state to do business for us. we have low cost of power and energy here. qualified workforce -- we don't have a whole lot of pressure from our competitors in the state. it's a great partnership. >> now let's talk drones. a drone capable of shooting a dart that can stun people with up to 80,000 volts. produced by company called chaotic moon. they just demonstrated the system. the chief innovation officer william hurley explains how and why this thing was built. ♪ >> it's a pretty standard hexa copter. the components that we used were things that were ordered over the internet. it took a short amount of time to get up and running.

the important issue is, this is something that we need to start paying attention to because often people build things with technology and don't stop to think about the ramifications of it. you can take something from a video game and build it for only a few thousand dollars in a short amount of time. and really raise awareness with not just legislators and engineers, but with the public in general. they will be governed and affected by these types of technologies. >> how did you test this? >> we actually had a mannequin and we had special darts. we did about three weeks of testing. people from our company were very excited to be the one in the video. we had a trial. jackson is an intern. he was picked because he is physically superior to most of us geeks. >> if he is physically superior

to most of the geeks, what was the response from the engineers at the company as a result of all of the publicity that cupid has received? >> we are very excited. this is the first in a series of technology demonstrations to raise public awareness of just how far we have come and how easy it is for all the manner of things to be created. up we will do that by having a pendulum swing. the next one is going to deliver kittens to said people. we are going to do some really well planned, well controlled experiments. unlike our other projects, we will not be sharing any of the code. as soon as we are done, we will disassemble cupid back into its component parts and the lab. >> now to flight without the motor. this man is going to take that suit to the top of mount everest. we caught up with them near los angeles. >> the main thing about this

particular jump is you have to get up to the tallest mountain in the world and get to the top and i don't know any other base jumper that has ever done that. i'm more nervous now in california then i will be when i'm actually standing there. everything about the setup is going to be different. i'm going to have all this and much harsher conditions. i will use a very specific mechanism to jump off and land. it has never been seen before. technology and equipment that is never been used. this suit allows me a lot more flexibility in my arms and legs. i have to take multiple steps. these are a lot bigger than what it looks like here. on the helmet, i will have cameras. you'll see multiple positions inside the suit.

i will also have different transmitters and batteries. i will have a survival pack. jumping off, your arms are up a bit more like this. then they retract the arms a bit. coming from here down to about here and then leaning forward, that speed generates into lift and allows me to fly out. i don't like to use the word superhero. i'm doing something i should not be able to do. i have done most of the things i wanted to do. this would be the blast cap at the end. i will probably end up in space, too. >> success at everest. he jumped over matterhorn in 2009. that is wild stuff. we will be back again tomorrow. same time. ♪

is 56 past the hour which means bloomberg television is on the markets. i am olivia sterns. let's get you caught up on how markets ended the session. s&p unchanged for the day, slightly in the red, basically flat. the dow off by 11 points.

the nasdaq trading a little higher by the end of the day, up i about 0.4%. not a lot of economic data out of the u.s.. concerns linger over the slowdown of economic growth in china. we will keep an eye out for retail sales tomorrow morning. it is an expensive piece of candy. candy crash is pricing shares at $21 to $24 apiece. joining me with all the details is leslie pickard. thanks for joining us. you have been covering this story for many months. let's start with the price itself. valuation, $7.6 billion. how does that compare to its peers? billion sounds like an expensive price to pay. actually, if you compare it on a price to sales basis, you are looking at the dollar you would pay as an investor for every dollar of sales they produce. it is actually cheaper than zynga.

that is the maker of ""farmville." salesis about six times relative to four times sales at king.com. >> even if it prices at the high-end of the range, you are saying this could still be a discount. >> exactly. what we have been told by investors and bankers alike is that they are trying to discount these shares because investors are concerned that it could be a one-hit wonder. candy crush which is 78% of its sales right now could be its only thing going. >> it is mind-boggling. 78% of sales came from this one single-game. that you could value a company at nearly ¥80 dollars because of billioness of a -- $8 because of the success of a mobile game. what other risks here? >> people can defect from the social networking games.

look at what happened with zynga. shares have fallen since its ipo as users defected from its games to candy crush. who is to say the same thing can't happen from candy crush to the next big thing? it has been a saga with the ipo. there are rumors that they were going to do it and then they pulled back. do you think that will weigh on the offer? asked the reason they waited was to come up with other offerings to diversify their revenue stream and show investors, we are not just relying on candy crush. it shouldn't weigh on the offering per se. it is nice that they have other games but those games haven't had enough time to come up to full speed and show investors that they can be the big hit that candy crush is. >> interesting. they were also waiting for that one billion-dollar revenue mark. do we think they learned anything else from the zynga ipo? >> we learned they have to keep everything under control.

with zynga, there were issues in management and scandals on ownership structures. king has kept this very locked down. they're going to get a lot of hype because it is a consumer tech game but they are keeping it very controlled. >> do you play? >> i don't. everyone i sit next to on the subway does seem to be playing. >> $7.6 billion, the potential valuation. thank you, leslie pickard. that is it for on the markets. i am olivia sterns. ♪