cory: welcome to "bloomberg west." change at credit suisse. >> we obviously need to keep the business performing and meet the target we put out there. this transition period is an important one where i will be extremely focused to make sure we do that. i will do everything we can to make sure that to jean can can

seamlessly come into the business. we will be very focused on continuing to deliver on those projects. cory: the selection of an insurance -- europe group official says greece needs to cooperate with the eu now. there must be in agreement on the total program by that time. greece has been urged to open its books in order to get more bailout money. athens says it will do so tomorrow. hillary clinton will take questions in an hour or so about the use of private e-mail. last week clinton called on the state department to release her e-mails. the review process could take

months. barnes & noble reported a 2% drop in holiday quarter sales. sales were down 51% in its nook e-reader business. >> our nook team continues to identify what continues to be a challenging environment. we remain committed to supporting the new product -- the nook product because it is important to our customers. cory: last month, the company said it will put its -- split its college book business from the rest of the company. blue coat has an enterprise security solutions.

target apple, according to newly leaked documents from snowden a multiyear sustained effort to break apple security measures and gain access to iphones and ipads. these latest revelations are being published in the online publication "insert up -- "intercept." it tells the story of a security researcher who created a modified version of apple software development tool to hack surveillance backdoors. they also up really about tactics and bribes about their sheave men's and a secret gathering called the jamboree. the document stopped short of saying whether jamboree was a success and whether researchers were able to get into these devices. i am joined by matthew green and

alan butler. when you look at this program, is this beyond targeting bad guys? is this going to the vacuum cleaner approach to everything? matthew green: i suddenly think this program is a huge invasion of privacy and security of american users of these devices. the companies spend in the users spend billions of dollars to buy secure communications technology in these phones that we use everyday. i don't think the government should be in the business of trying to crack all the protections of those phones. cory: matthew, let me ask you for your take on the story. it's hard to be surprised by these notions that the nsa in the cia are going after every piece of data they can find.

what is different about this? matthew green: what is the target gear at the end of the day is that software developers right apps for your iphone. at the time that these documents were first produced, most of those producers were u.s. citizens. the end may be to target terrorists, but the means is to target americans. cory: as the iphone is used by more more people, they will need to know how to do that. technologically, it is interesting that apple really changed the way the device works in the way they gather information after the iphone 3. the snowden documents are gathered in time before the iphone 4. matthew green: apple has been at the forefront. it has a most sophisticated for

-- phone technology. first of all, it is working. second of all, there are people out there who are attacking them and they should not be doing this. cory: alan, when you look at this, do you see it out of a paragon of privacy protection or do you see it as a target or difficult target for white hat and black hat hackers? alan butler: i agree that apple has done a lot to promote their customers' privacy and security. again the emphasis here is -- it's both important to protect our data, to lock it down, to encrypted, and to make sure that our communications are secure. cyber security is an issue that is really important to people here in washington, see -- washington, d.c., and across country. cory: on this issue of privacy

and how apple is changing their own methods and the privacy means for the company, listen to this. >> without a doubt, safeguarding a world of digitized information is an enormous task and no smoke company or organization can accomplish this on its own. that is why we are committed to engaging productively with the white house and the congress and putting the results of these conversations into action. cory: alan, it sounds all nice and from the, these discussions with the help -- the white house, but the notion that they are gathering a group of hackers and trying to find a backdoor into apple devices does not suggest a from the conversation would into. -- would ensue. alan butler: that's right. there is an inherent conflict in securing the infrastructure we

use everyday to make it -- to communicate privately and securely in the interest of some in the intelligence community to be able to gather data on what people are doing and saying. cory: we look at the notion of how big this is. what the documents from snowden reveal is the budget for this thing was $35 million. but they had over 200 people working on this thing. the goal of it was to defeat the strong commercial data and security systems not just on the iphone, but with a focus on the iphone. that is a big budget. imagine a room of 200 people working full-time on hacking this thing. do we think that it worked? do we think they were able to get into these devices? matthew green: i think that any government or foreign service spends this kind of money, given enough time, they are going to succeed. yes, i think they probably did. cory: interesting stuff.

thank you both for your time. "bloomberg west" will be right back. ♪

cory: here are some top headlines. chevron to speed up asset sales. the company says it will increase asset sales by 15% and/new investments -- and a slash new investments. more oil coming out of the ground. 30 people hired to focus on big day to investments. the team will build computer models to analyze public trading data.

starbucks will expand its mobile orders. the service is currently being tested in portland oregon. starbucks plans to rollout mobile ordering nationwide later this year. go pro ceo nick wood is known for a lot of things. -- nick woodman is known for a lot of things. but one lesser-known is philanthropy. emily chang caught up with him at a fundraiser called build, an organization that promotes innovation in public schools. emily: what does the word entrepreneur me to you? >> win some you can take an idea and make it real. an entrepreneur can be a business person, an artist, a

musician, anybody that can have an idea and turn into reality. emily: and how did you do that? >> i dedicated myself to it. when i was 22 years old, i promised myself i would work my tail off until the age of 30 at a minimum to succeed as an entrepreneur. that was extremely important because i had a lot of failure along the way. emily: the first company started failed. >> and then there was a company that i did not even start that i failed out. so i had to failures before go pro. emily: how do failures drive you today? >> at the time, they scared me. failure isn't easy. i didn't think him oh cool, i failed. success has taught me that one of the most important things that an entrepreneur can have his perseverance, a willingness to fail, pick yourself up, and give it another shot. if you don't have that great -- that grit, you are going to get run over. emily: why build come of all of

the causes you can support? >> -- why build, of all of the causes you can support? >> i think build makes school exciting. the lessons, the tools that help kids learn, how to start a business tying all their other classes together in a meaningful way, in a way that is fun, and frankly in a way they can get paid for -- talk about motivation -- your try to get an a, but you can make some money doing it. i think it makes tangible why school is so important. if you can engage a kid, you can keep a kid in school. emily: you recently donated half $1 billion to philanthropy making you the six the biggest -- sixth biggest philanthropy in

the country. >> my parents helped me get going with my business. we would like to return the favor and help others realize their full potential as well. being an entrepreneur, build speaks to me. my wife and i are extremely excited. emily: how do you encourage and foster entrepreneurship, innovation, risk-taking within gopro? how do you keep a differentiated from the competition? apple is always looming. how do you keep gopro, what you're famous for, the best of the bunch? >> having failed they couple

of times, i realized that your business can always go away. you can never get complacent. i have had it all taken away from you before. it is important to wake up every morning a little bit scared that that might happen. never think that you finally made it. emily: does xiaomi scary? does apple scary? >> apple is a good thing. yeah, they scare you a little bit. that is a good thing because it drives you and -- drives you to put more into york. it is something -- into your work. it is something that is alive and well in our culture. stop trying to reinvent yourself. emily: gopro had a wildly successful ipo. the stock has been volatile. you have people comparing the company to apple and analysts told me they think you are the next steve jobs. how do you reconcile that? >> you don't.

you just try to do the best you can. we are fortunate that we have a very long-term vision at gopro. we sit down with investors and they understand our vision. then it becomes a question are we the west execute? -- are we the ones to execute? the stock will go up in the stock will go down. but as long as we execute against that vision, we will be fine. cory: "bloomberg west" will be right back. ♪

cory: when the apple watch starts shipping, the focus will

be on business. some interesting apps were discussed in the apple launch yesterday. you guys were a crucial part of the announcement. what do you see as a functionality in the watch? >> i think the big differences productivity and speed of access. it's about how quickly you can focus in on very specific rationale it is available on apps on your watch. if i am a sales manager, at the end of the quarter, i don't want to have to pull out my phone to keep approving deals. i want to tap down and say yeah, that is approved. we have done research. the average person is pulling out their phone 100 to 150 times a day. most people look at their phone when they do not find the one

thing they are looking for, they get distracted. the watch is really focused. it is a glance. cory: i thought the demo of your service on the watch wonderfully explained the notion that a contractor hits the button on his wrist when he starts working an electrician in your house. and the second he leaves your house, it stops. it is an intriguing location device. why is this better on the watch? >> the watch lets us take this to the next level. on the phone you have to remember to start it and stop it. for small businesses, cash flow is why they are using invoice to go. but if you don't remember to start the clock, you are not going to get paid. so as soon as you start on the job site, you start billing. that makes our customers more money because they get the invoices out, fully billing for

all the time they spent on site. cory: do you imagine for the contractors who are doing the work using invoice2go, it lets me know for a fact that the worker was there and gives the plumber, for example, a competitive advantage? >> absolutely. the more detail you can get, the more confidence you have that work was actually provided. cory: do you expect therefore the watch and the business device to be kind of a marketing tool for the service provider? >> i don't know that it will be so much a marketing tool as it will allow them to access more jobs because they will know that they can fill that job professionally. that is something we see in the small business segment. people want to be able to act as professional as a very big

business, by being able to have really good invoicing, really clear estimates. all of these things are enabled through smartphones. cory: development, talk to me about that. >> we have been working on wearables for over a year. yesterday, we launched salesforce for apple watch. people can now personally glance the data andrew -- and drill into it in a verified way. people can take the framework and use the cloud platform. they will still use the apple tools. but they get security, identity, workflow, all the things a you need to build an application really fast. now they can extend it to the

watch early quickly. it was great -- watch really quickly. it was great for us. managing security is important for building a business app, but learning to rebuild apps for the watch. it's not the same as taking on intriguing it down. how are people going to use this in a quick way? cory: your company took limited resources and focused on the watch. why did you make that choice and not choose to develop for other platforms that are widely in use? >> because we always believe in the small business person wanting to make themselves more efficient with technology. if there is some thing that invoice2go has proven, people want to adopt these new platforms but you have to do it in a way that is extremely practical and in our case helps people make more money.

cory: thank you very much. next up we will talk with and analysts of a big google vc operation. ♪

cory: welcome to "bloomberg west ." president obama denouncing a letter sent by 47 republican senator's to iran's president. it warns that any diplomatic deal on nuclear arms approved by president obama could easily be reversed by the next president. >>i think it is -- president: i think it is ironic for members of congress wanting to make cause with the hard-liners in iran.

it is an unusual coalition. cory: republicans say a deal could help iran develop nuclear weapons. the new zealand dollar hit a five-year low against the u.s. dollar a letter sent in november to the federal farmers in new zealand threatened to contaminate baby formula unless the new zealand government stops using it. 40,000 samples showed no trace of the poison. the prime minister called the poison thread eco-terrorism. asset seizures, a judge in the case has already come under investigation for driving one of his luxury cars. he was once worth more than $40 billion. stocks are under pressure today.

what do we see jules? julie: there doesn't seem to be a specific catalyst here, just a general unease that people are feeling with the uncertainty over when the federal reserve will be raising interest rates. we see a lot of the economically sensitive groups, utilities the only one that is higher. the dollar is higher over a basket of currencies since december 2003. cory: google put huge resources into looking at the next moonshot deal. in january, the company made a $900 million investment in elon

musk's spacex. looking at things on how to extend life, the search for immortality on the cover of next month's "bloomberg" magazine. bill maris is the head of google ventures. the story is fascinating. have you seen it yet? it's great stuff. an interesting look adventure capital and big outlandish futuristic bets like extending life. >> i think outlandish is the right word. the headlines are a little science fictiony nonsense because what we are looking at is real science. people are getting caught up in the headlines, which is about living forever and that is not really what we are talking about. we are talking about investing in companies to help people live healthier, longer lives and hopefully live to see their

grandchildren and that sort of things. cory: do you approach these thinking, hey, some new stuff as possible. if i can learn the theme, i can select the companies that will be successful. >> the theme here is life sciences where we put 36% of our capital last year. and the goal of those companies is to help people not suffer from diseases not die of congestive heart failure or cancer or the sorts of things that affect lifespan. that is really what we are talking about. cory: i am curious about the approach. it's not just biotech. it is data-driven. described flat iron to me and why you put $130 million into this. >> flat iron is our largest investment developed by x googlers. they are collecting information from the hospital system about cancer patient, patient

treatment and outcomes. they provided to scientists, researchers, and physicians to help provide better outcomes. cory: it sounds like 23 me. you give a vial of your spit and they give you some feedback about who you are and where you came from. but they use that to create this giant database of genetic markers. >> also, a portfolio company of hours. no coincidence. they are companies that live at the intersection of technology and large data sets. we think we can bring a lot of value to help those company's growth. cory: when you look at the hiccups that 23 me has had, it is an intriguing one because it is pushing against not just the limits of technology but really pushing at the limits of government and how government looks at -- how do you help a company get through those or

imagined those roadblocks? >> all of our companies faced hiccups along the way. in many cases, it has to do with regulations because the innovations the companies are developing bump up against the limits of what policies were made to address. 23 me is try to do something that has never been done before, provide your genome information to you. policies written 10 or 20 or 100 years ago never had that in mind. the company is doing a great job tried to do that with the fda. cory: in your role as vc will you take on the advocacy of these things? some of these laws written are very sensible. snake oil was once sold. now it is just a metaphor. the fda was created to save us from selling snake oil and planting goat gonads into the armpit. do you feel like you have to

educate the fda or just get rid of those kind of rules? >> no, this is an important role, a critical role. nobody wants to live in a country without an organization like the fda. through cooperation with those policymakers, to help them understand what the company is tried to do, the company needs to similarly understand why those regulations are in place and what bad things can happen without them and then adapt them together. it is never one way or the other. our advocacy is on both sides. cory: "bloomberg west" will be back with more. ♪

cory: we are back with bill maris. i want to talk with you about a company called luber. -- called uber. when we started this show, i didn't think we would be talking about a buck or service is one of the most transformative technology companies of the bloomberg west tara and i think it is. >> it is one of -- bloomberg

west era and i think it is. >> it is one of the fastest-growing. providing people transportation the number of people they are employing, the number of jobs they are creating, the impact is huge. cory: i read that they have done as much as adding 50 jobs a month. the u.s. economy is adding 300 jobs a month. >> it is a challenge and an opportunity for the company. as investors, we try to advocate for them, advise and help them grow. and they have been doing a great job. cory: what are the lessons to be taken from that investment? i say it is opentable for black cars. >> the lesson is the same for a lot of successful products, execution and tenacity.

the idea for or five years ago to get -- to make it easy to get a taxi or a black car was not that interesting an idea. but the tenacity and hard-working nature of that aim you have something special. cory: there have been jerk moves by the company, notions about privacy, notions of busting into a market and letting it linger. >> it is a young company and they're trying to figure things out. any company in our portfolio has bumps in the world, try to figure out the world. cory: so that is a given that a company is going to have bumps in the road. they have raised some interesting issues that are applicable a ball -- across the board issues about protecting privacy, and what their role should be in protecting the privacy. were you happy with the way they handled it before they got caught and after they got caught , following a reporter when she went to visit uber headquarters? >> it is not my job to be the

judge. our job is to help them be better. since they are a market leader, it is their job to be better than anyone in acting in a principled, value-driven way. all of these things you just mentioned are great opportunities to remind the company in the people that work there to really value that. cory: and in your next investment, maybe you are thinking about that before -- >> we are thinking about all the time. in every company, something is going to go wrong inevitably. it is how you are going to recover from that. how you address it so it doesn't happen again. that is what we faced as google group. -- google grew. cory: where do you go after that? >> in transportation and technology, there is another company called urban engines that helps design systems to alleviate the traffic problem.

congestion is a waste of time and resources and energy. it is also founded by former googlers. and there is a whole business and genetic, biodata. urban engine is designing systems to help users find their way through traffic and alleviate congestion. cory: similar to ways or give them maps to tell them what to go. >> similar by using an algorithmic and computer science approach. cory: do you feel that your fundamental advantages thinking about hit -- about how data is used? >> through all of our investments. if you are a start up, data is part of the equation. and figuring out how to organize at equation, protected, all of those things are important. cory: thank you very much.

let's get a check of your bloomberg top headlines. in france, mourning the death of 10 people killed while filming a reality show. three french athletes, including olympic champion swimmer, were killed when a helicopter collided in argentina. the cause of the crash is under investigation. in upstate new york, a man charged with fraud for claiming that he owned half of facebook has vanished. u.s. marshals found a bracelet he was wearing at his home without him. the iditarod race is underway. there was not enough snow this year so the start was moved 25 miles no earth -- 25 miles north to toasty warm fairbanks.

79 bush or's -- 79 mushers and their dogs are competing for $75,000 in prize money. mark: you are loved by the masses so it must be me. one of the top stories where a following, former secretary of state hillary clinton is expected to address the e-mail controversy that has daughter for two weeks. she will hold a press conference next hour, following a speech at the united nations about women empowerment principles. republicans and even some of her democratic allies have urged mrs. clinton to identify -- to explain why she used private e-mail during her time at the state department. back to you in san francisco. cory: thank you very much. "bloomberg west" will be right

back here in ♪ -- right back. ♪

cory: robots may one day run the world. at least that is what the world's dairy farms hope. sam grobart visited sunny glade farm in canada were just four people care for more than 200 cows. sam: i am in hour outside of winnipeg and it isn't hitting any warmer. temperatures around here are easy -- are easily -20 degrees and that does not account for the wind across the plains. it is a cold and unforgiving place to do much of anything, particularly milking cows at 4:30 in the morning. fortunately, at this very form you don't have to.

-- at this dairy farm you don't have to. they have been milking cows here for four generations. in july last year, weldon did something radical. he replaced his old manual equipment with a system that is completely automated. how many cows are in here? >> about 250, 260. and you can see our vectors of the robotic feeder. he works on his own 24/7. he pushes of feed so that cows can reach it. sam: this can be happening at 3:00 in the morning? >> yep. sam: this feeding robot is called the vector. it scans the barn every 45 minutes. if the feed is low anywhere, it will go to the feed kitchen.

it gets restocked with a blend of grains, barley, and supplements by a giant claw. >> that is the crane that loads all of the ingredients. as you can see, it tells it what to load. it picks up and then it done sit in here. there is a scale on here so i know exactly how much it's got and how much it needs to put in here. sam: it just drop a load. >> it was to get a better drop. sam: is there some set of safety protocol? >> the safety protocol we broke when you came in here. [laughter] that is good forge. sam: all this automation looks awesome. but weldon did not buy a bunch of robotics because they look cool. the company behind all this equipment, aid dutch company,

thinks automation is the answer. >> the technology we produce here today is rapidly changing and revolutionizing the dairy industry as a whole. probably one of the biggest things is -- as potential risk is the availability of labor to harvest milk. 80% of the labor that is available on dairy farms today takes immigrant labor. if you look at the availability just in quantity of that labor pool, there is not enough labor available in the traditional markets to support the dairy industries. again, it speaks to why we see a large trend, a growing trend towards automation and robotics technology. >> we have four people less on payroll. i would say that the four that are here have a sane day instead

of an insane day. sam: he has to milk them as well. that brings us to the second part of the system, the astronaut. what is going to happen here? >> as the cow comes in, there is an id caller on her. it will register -- id coollar on her. it will register her. it cleans her teats with the brushes and then it will attach the milking unit on. sam: about 120 pieces of data is collected every time a cow was milked. he can adjust the components of the feed to address certain health issues. well then can use the data to make sure his cows are producing as much milk for him as possible. did you increase the amount of cows?

>> we actually did not increase the amount of cows but our production has really increased. sam: you are producing more milk with your people. >> yes. it's not even close. sam: automation replaces jobs. but in an industry where labor is in short supply, automation may be the thing that helps save the family farm. but right now, weldon is not thinking about the bigger picture. he's just happy to have some time to relax. cory: whoa canada. joining us now for the bwest byte from our toronto bureau garrett, what do you have? garrett: the number i have is 1247. sam:cory: what is that? garrett: that is the popularity

that gigaom had. sam:cory: it suddenly shuddered and turned over to its creditors. it was a very sad day. garrett: absolutely. it was a complete surprise to a lot of people in the tech industry. the one analyst i spoke to, i asked what is the tone right now among the online media or the online tech media? he said, what the hell happened? cory: we have seen this before but usually after the bubble bursts. thank you very much. you can always get the latest headlines on your phone, your tablet, bloomberg.com, and on bloomberg radio. more "bloomberg was" mor --

"bloomberg west" tomorrow. ♪

mark: this is "bottom line," the intersection of business and economics with the main street perspective. to our viewers here in the united states and those of you joining us from around the world, welcome. hillary clinton will finally talk about the e-mail controversy that has rocked her potential presidential campaign. she is expected to take questions from the news media in about 15 minutes -- 15 minutes at the uni