♪ cory: live from pier 3 in san francisco, welcome to "bloomberg west." we cover innovation and the future of business. i am cory johnson. as a check of your bloomberg top headlines. the election in israel to close to call. benjamin netanyahu is declaring victory. his party won early exit polls coming out one seat ahead. the second poll has it deadlocked until the morning.

house speaker john boehner is urging the former secretary of state hillary clinton to turn over her private e-mail server. john boehner: the american people deserve the facts about benghazi. that is why it is important secretary clinton turned over to her server to a neutral third party to make sure we have all of the documents that belong to cory: he made the comments at a news conference. they want to cut $5.5 trillion over nine years by partially privatizing medicare and cutting food stamps. president obama calls this a nonstarter. president obama: it does not reflect the future or growth. it does not help ensure that middle-class families are able to maintain security and stability and that people trying

to get into the middle class will be able to. cory: the senate will unveil its plan tomorrow. no medicare cuts are expected. jpmorgan is the buyer of $45 billion worth of mortgage servicing rights, according to a person familiar with the deal. they signed a letter of intent to sell the rights without identifying the buyer. it would bring their portfolio to nearly $1 trillion. facebook diving deeper into payments. rolling out a new feature to send money to friends through messenger. facebook points out it is processing more than one million transactions a day including payments for game players and advertisers. adobe has reported fiscal first-quarter earnings, the 20% increase in subscribers. revenue and profit up 12%. investors love what these numbers are after the company

warned new subscriptions in the coming quarter will be below what was hoped for. to the lead, and other tech company reporting this afternoon, oracle. revenue was flat, profits down 3%. oracle says they would have been up if not for the strong u.s. dollar. it is a continuation of a pattern. sales growth has not been as high since 2012 and cloud and reporter: -- high since 2012 and

cloud and software revenues were up 7%. joining us now from new york is brian white. i will warn you i'm so dismissive of the gases of the work by analysts, except for you. what a surprise to you about the quarter that was just reported? brian: oracle and showed us they did a great job delivering on eps. they met the street and we have to remember they gave guidance in constant currency and they said the impact will be four cents in the quarter. it turned out to be -$.06. it was greater than expected and they still met eps. revenue fell short. currency was up 6%, at the midpoint with their guidance. i think it was actually a solid quarter and cloud was the theme. cory: i would agree.

eps is a more fudge-able number and i would agree, x currency up 6% is an improvement. brian: they've got a few cycles. they have a database cycle. we will see that more in a fiscal 2016. 12c cycle will kick in. they are making a big push into the cloud. this quarter, up over 30% in revenue in the cloud business. they have raised their outlook for the fourth quarter in cloud. cloud is another big cycle and i think they are doing a great job. it is a transition. when i look at the mega i.t. companies, if anyone is going to win in the cloud, i think it is oracle. cory: larry ellison said we are

going to do, we just did a billion dollars. that is what salesforce says they are going to do. we will see who has the better year. are these apple to apple comparisons? brian: oracle won 200 million in revenue, new business. 200 million in new business in the third quarter and the fourth quarter, that is going to be 300 million. that is a great number. that is brand-new business. and in calendar 2015, it will be over a billion dollars. winning new business, they can't help where they came from in terms of they are smaller in the cloud. in terms of going out winning business, oracle is doing a phenomenal job. cory: what role do acquisitions play? brian: a lot of this, they've made small acquisitions. fusion has been the driver of the business, that is largely an

oracle product. there are acquisitions along the way, but they've been working on fusion for nine years. cory: is this quarter good news or bad news for salesforce? brian: i would say for the cloud, it was a good quarter for the cloud and oracle is executing well. cory: all right. brian white, thank you very much. "bloomberg west" will be right back. ♪

cory: i'm cory johnson. here are some top headlines. cme group is in talks to buy another group. the talks are preliminary and the software business alone

could be valued at $600 billion. -- $600 million. it lost a bidding war. sony's profit surges. it was helped by demand for images sensors and the ps4 console. they were dealing with the fallout from the massive hacking scandal over the film "the interview." that cost the company about $15 million. super mario could be coming to your mobile device. nintendo will develop games for an outside mobile platform for the first time. here is nintendo's president. >> i often hear nintendo is in crisis. i'm aware we won't be able to survive if we don't react to changing industry trends and what users wants. this deal comes at the right

time and will generate synergy. cory: they could sell games for its own consoles and handhelds players. the buzz in silicon valley has been sex and finance. a gender discrimination lawsuit filed by ellen pao. she is seeking $16 million in damages and they have plenty of witnesses who says kleiner perkins is the best place to be a woman in the business. brad stone and sarah frier join me to discuss why this case is sending shockwaves throughout silicon valley. brad: for many reasons. kleiner perkins is one of the brightest lights in the capital universe. they have done a really the

best job of bringing women in the firm and evangelizing female lead entrepreneurs. here they are ironically being called by one of the partners. also one of the stories we're working on next week. the trial demonstrates a lot of what is being talked about. not about these very visible forms of sexual harassment, but the subtler biases. that is really what the case is about, whether she was treated differently than the male partners. cory: i think that is why this resonates. here we are, two white dudes but that is kind of a common scene in silicon valley, where men far outnumber women, where white dudes and asian men outnumber women as well in the workplace. is that the resonance? sarah: absolutely. when the case was filed, it was before "lean in" and before tech company started releasing

their dismal showings. less than 30% of the workforce was female. it is a world in which it is called out when you make calls. on whether women should ask for raises. everyone is very sensitive to all the things mentioned in the case. whether she was told she had to take notes, even though she should have been at the same level as the men. that is really the thing people look at here and think, i have seen myself in that it i have talked to a lot of women in tech over the last few months and i do not know what happened to ellen pao, but i do know that looks a little bit like me. cory: she is alleging she was kept out of meetings, that she did not get the same seats on the board that males got. is that the essence of her case? brad: there is more to it. one of the more powerful allegations, the kind of behavior she was criticized for was exactly the

kind of behavior prized in the male partners. being combative, having strong opinions, having sharp elbows with colleagues. she had negative performance reviews. she is alleging there was a double standard. there are other complicating parts of this case that make it a salacious trial. she had a consensual affair with a coworker and after they broke up, the coworker made her life miserable. the firm was too slow to fire that coworker. cory: the senior partner with the firm, a few details emerging from the trial about this. that seems to be a central part of the complaint, that in some way, it was consensual but should not have been allowed in that they were treated differently when it came out. sarah: she was not a perfect

symbol of a woman being wronged who is trying to fight for justice. she is a complicated character. she has this affair. sometimes, maybe she could do everything to get deals done and she is saying, you should have listened to me when i did this or that, but a lot of the trials are really hinging on is she likable, is she somebody we can trust, is she somebody in a position to succeed the firm whether or not she is a woman, just based on her personality? that makes it a lot murkier. cory: one peson for years and years while she was at morgan stanley. she was a tech analyst when it was a very junior position. no one remembers this, but she made some really bad calls and plenty of good ones. i am sure she heard of that from the trading floors where the environment is anything but warm and welcome. when she compared what perkins

was like at wall street, she said, it is fantastic. brad: that is right. an irony here is that they have done a better job not only in investment banks, but at other venture capital firms. if you look at the website, they look like the directors of the moose lodge from 1912. and kleiner perkins did a much better job. at the same time, there is a real question as to whether, in the leadership, which, at the time, the operating committee -- they were six dudes. whether they weren't sensitive to some of the softer and subtler forms of bias. cory: does she have a shot here at winning the case?

sarah: she is one of the first people to bring this kind of thing out into the open as the industry is discussing these things. she has a chance, but a lot of these things will be very carefully decided and the jury is asking all the right questions. cory: that was sarah frier and brad stone. "bloomberg west" will be right back. ♪

♪ cory: i am cory johnson and this is "bloomberg west." joining us for the rest of the hour is the former ebay ceo, board member of salesforce. maynard, i know you are a fan of

the 49ers, tell me how you know each other. >> we met five years ago. he was beginning to think about the new stadium. i knew it was a once-in-a-lifetime opportunity. i said, "how can i help?" cory: it is a huge deal. i was arguing the importance of san francisco. you chose santa clara. it is interesting because it is a technological marvel. what were you trying to do? jed: bring out the best of the bay area and make that the staple of the stadium, the technology and sustainability and make levi stadium a focal point. cory: in terms of technology what are you trying to do? jed: we want to make sure it is a seamless transition going to a game. when you can use a smart phone to interact, you want to be

ticketless, cashless, have wayfinding and make sure that everything that is difficult about going to a game, having your tickets, transferring the tickets to somebody else, we make that seamless. we want to make sure that can use wi-fi and 4g technology to really enhance your experience. maynard: the technology is so cool, he is creating it as a company and taking it on the road. can you talk about that a little bit? jed: sure. levi stadium was a petri dish and now, john paul is

taking that on the road to other sports and entertainment venues around the world. cory: interesting. baseball had such great success with that. now they're streaming hbo, which shows they are clearly a technical logical leader. you have an advantage there specifically around what? jed: it is really about revolutionizing the venue for fans, taking a lot of the pain points away and allowing the fans to know the venue better and the venue to the fans better. cory: the owner of the mavericks, mark cuban, he approached a reconstruction of that has a lot of the same ideas. i do not know if he would say so, but it feels like he would say, i do not want every technology. he told bloomberg there is no question people use phones and devices that games, but they use them when they are bored. they don't want more reasons to use them. they want fewer. how do you balance that case? jed: fans are going to use the phones.

that is what people use and that is what they're going to do. instead of having them get up and go stand in line for a beer, you can have it delivered for you. instead of standing in line for a restroom, you can use the phone and say, the line is red and a few sections down, it is green. it is easier to get in and out. you want to make sure that again, those points are taken out of the live venue experience. maynard: one thing i use is i get to control which plan want to replay and when and how. so often, you are on a break and waiting for the camera to come back. i can look at a play and

replay it any time. cory: i was really struck. i went to a couple games at levi stadium and i caught some great weather and there was a lot of fun. i went to a game with crummy weather in seattle. it was a great game. they lost, but the difference i noticed was particularly this new stadium. the seats at levi stadium were pretty empty right after halftime. in seattle, it was packed and they were passionate and i thought that gave the team an advantage. do you think about developing technology and how it will affect what is happening on the field? the 12th man is an important deal for every stadium. jed: getting people to stay their seat and not have to leave and go back to the bar and everything else. for the first year at levi stadium, they are still trying to figure at the venue and figure out everything that work and does not work at levi stadium. it is a lot different than the candlestick. from zero amenities to a lot of amenities. trying to transition to the next generation and really making levi is new home of the 49ers. cory: do you think that affects the play on the field because it was quieter after the break? jed: i do not think that has a

big effect on the field. marshawn lynch has a bigger effect than anyone else. cory: they'll stay with us and talk about leadership in silicon valley. what the niners mean to all of that. "bloomberg west" continues. ♪

cory: you are watching "bloomberg west," i'm cory johnson. let's check on some of the bloomberg top headlines. housing dropped to 17% in february, the most in 14 years. the commerce department saying work again at an annualized rate of 897,000 houses, the fewest in the year. economists blame extreme winter weather. in ireland, insurers at kennedy holdings. it is among the insurance companies seeking investments beyond corporate bonds and

government debt with yields near record lows. doug parker thinks they are threatening jobs. doug parker: we are happy to compete and love to compete. it is not on a level playing field. that is not good for the united states and is not good for jobs. it is therefore something we think we should have consultations about. cory: they argue state owned airlines are getting subsidies allowing them to offer artificially low airfare. google has unveiled its google play app store. it wants to address concerns parents have on children's smartphones. google will also start using a team of human experts. humans at google, yes. they will review submissions before they are allowed into the app store.

twitter and rhapsody teaming up to make a music streaming site's songs available within the social network. it says subscribers will be able to post songs to twitter. they will get a free trial of twitter. the partnership is twitter's latest attempt to get users to listen to posts. return back to our special guest host this hour. maynard webb joins us and also jed york, getting ready for super bowl 50. super bowl 50 will be at the niners. what have they done to get both ready? maynard: can you guarantee as good a game as last year's game? jed: i would rather have a blowout where the 49ers

participate in that. for us, we will get ready one day at a time on the field. we have a long way to go for the 49ers. for the bay area and levi stadium, we will be the most philanthropic super bowl to take place. we are putting $2.5 million back into the community already. the super bowl announced that last week. we have got everybody in the bay area working together from san jose to san francisco. when you offer the best of the area, it will be an unbelievable week. cory: here you are trying to manage one of the most important businesses flat out in a pro bowl of business leaders whether it is tim cook or all of the other people i cover that i will not be so nice to on the air. you have got to be one of these managers around here. the big news of the day, a 24-year-old linebacker after a breakout year. announcing his retirement, what do you make of it? jed: i respect chris. a great kid. it is certainly a

surprise to us and some teammates. you have to respect that decision. if he fears for his health and safety going forward, i do not want someone going out there and doing something i would not feel comfortable doing. i would never try to talk someone out of retirement. it was not an easy decision for for him but we respect him and wish him the best. cory: you go across the defensive oriented team, you have got pat willis retiring and it is unclear what is happening with justin smith. do we know what is happening with him? jed: he has been working out with the guys. he is in the decision-making process.

we obviously would love to have justin back. he has got to be comfortable going out and if he is not, we will have to step up and have someone else take that place. cory: you made a tough decision. about your coach. you said it was mutual and he said it wasn't. i do not really want to get into that but when you make that kind of decision about moving forward as a leader, the fans, since we said the interview is happened questions and e-mails, how could you let that guy go, even if everybody hated him? great coach. not universally loved. bill parcells was a great coach. despised sometimes by his own teammates and his own players. what matters besides winning? jed: things off the field obviously matter. we are trying to win a super bowl. we have not been able to win a super bowl. what we're trying to do is build a team that focuses on core strengths. like any other company you want to talk to. you will focus on core strengths

i think we got away from that little bit and tried to be too much of something that we were not. you will see them get back to the basics and let them make plays. that will give us an opportunity to get back. you look at our offense last year. it was not where it should have been. we have better talent than what our results showed. i am not the experts in terms of calling x's and o's and writing plays and doing things like that. i know our players are equipped to play the game and compete for championships. we need to make sure these things are together and moving forward and giving a chance to ultimately host and win the super bowl this year.

maynard: speaking of the super bowl, what is it you would like silicon valley and the san francisco bay area to do to help you make sure this is the best super bowl ever? jed: getting the 49ers, that would make it a great way. ultimately what you want watching mayor lee work with mayor matthews bringing everybody together and making sure we put on the best face, and working together, when you work together as a unit, i do not think there is a better place in the world. cory: i feel sports is a metaphor that is why we all love it, it seems clear. there is a score at the end of the day. that is why i love talking about sports as a metaphor for business to talk about the offense as a problem for the 49ers. you hire a defensive coach. the fans fans look at that and say, offense is a problem. why did you hire a defensive guy?

jed: that is a good question but i think the coach has seen this team transition from an average football team to a really good football team, trying to focus on what we have done well and making sure you have somebody who knows the quarterback well who can run the offense, building the right staff around them, making sure we get back to doing things colin is good at. let him use his athleticism. do not try to change the offense week to week. stick to what works. it's a great question on the surface. look at bill belichick. he is a defensive minded guy. he's won four super bowls. a lot of coaches have had great careers. when you look at the long game it is about making sure everything works together. not just offense or defense and not just special teams. that is what we want. we want an entire team of 53 and not just individual units. cory: the question of leadership and making decisions. is the super bowl the only answer?

is that the only way, the only goal that could work? if the next coach doesn't want a super bowl, is he gone? maynard: let me talk about business. you have to produce results. day in and day out. you have got to get voted on the team every year and every day. you have to produce results. there are no easy decisions. maybe belichick is an easy decision if you are the owner of the new england patriots. in most case, there is only one super bowl winner in the year and they will try to get there. you have to put the best team you can on the field. jed: super bowl is always our goal. there are a lot of things we do outside of the game that we do not really keep a scorecard for it. we are trying to make the community a better place. super bowl 50 and other things we're doing will definitely make the bay area a better place.

cory: thank you much. maynard webb is going to stick with us. "bloomberg west" will be right back. ♪

cory: i'm cory johnson. in crimea, a celebration for the vote to join russia. the state department called that vote a fake referendum. russia denied it is occupying the region. meanwhile, vladimir putin said he sent in russian troops to neutralize ukrainian forces. guest: -- cory: pinterest has raised 367 million dollars from investors who might get another 211 million dollars in funding according to a regulatory

filing. $11 billion, more than a dozen reported last may. police investigating whether uber drivers are embracing the country's taxi's laws. 17 people under investigation, including the head of investigations. including the head of uber's investigations. police have seized 432 pieces of evidence from the company. it says it does not believe employees are engaged in any illegal behavior. even the former secretary of state hillary clinton admits it is easier to carry one device for both work and personal reasons. it does pose security challenges for anyone in business or government trying to protect data. a security company protects and stores corporate data. the ceo joins us right now. go ahead. maynard: you and i met a long time ago at salesforce and i was

an early investor. it has been amazing to see what you have done with this company. can you tell all the viewers why this has grown so fast? todd: it's a mobility management service. we have over 2000 enterprise customers. you have name brands you would know, like linkedin or rotary international, they use our services. when we first met, i was running the engineering team at salesforce.com. we were both seeing, back in those days, cloud computing and mobile computing take off in the enterprise. i remember it resonated with you because you are a former cio. maynard: it was very much like the old days where everybody had their own passwords. cory: did you see that as risk or opportunity? you did not mention bring your own device. todd: this was six years ago before android. the iphone was only a year old. it did not have a developer kit.

it is moving fast. six years is a long time ago. what i saw was a great thing to not enough customers would use it and not enough companies would deploy it. there were going to hit this wall with security challenges. cory: i love that hillary clinton of all people have brought the issue to the forefront. is the issue having two e-mail accounts or a boxed identity? where one cannot cross into the other? todd: it is simple. the issue is choice. in previous instances of technology, there was no choice. you got the account work gave you. maynard: and they told you what you could use. today you carry around your computer and your phone. the whole thing has totally changed.

todd: now there is choice. it is incumbent on i.t. folks to build services. i do not know hillary clinton and do not know exactly what she was thinking but i bet she just wanted her e-mail on her phone and a lot of times, that is hard to do with the legacy technology that people take it in their own hands. what companies like okta are all about is making it so easy and secure and manageable so we have the best of both worlds. cory: there is also a philosophical question. i had an argument with larry ellison and he really believes in their working in that company, it is the company's time, and they will use the company's services. maynard: i think that is so archaic, i cannot do work around the clock, just as you go home. you start using those e-mails.

at work, i still want to know what is going on with my friends and understanding what has happened. the world has blended. it is not either or. it is and. todd: business has to provide that. maynard: the challenge for a cio is harder today. you can't just protect them in their little environment. you have to make sure you are doing things appropriately wherever you are on whatever device you are. cory: you can't stop them, you can only hope to contain them. stay with us on "bloomberg west." we will be right back. ♪

cory: i'm cory johnson. this is "bloomberg west." still with us, the chairman and the ceo of the world's largest crowdfunding platform, indiegogo, which has hosted more than 200,000

campaigns and has seen fund-raising increase 1000% over the last two years. glad to have you on. what is the most illustrative campaign that tells the world indiegogo is no different from other platforms? guest: we are an open platform. anybody can raise money for anything. we send money to about 100 countries a week. as an example, we have had the first crowdfunding baby. the first-ever baby because the baby could not afford in vitro fertilization. right now we have a campaign -- maynard: they could have started a campaign on that. right now there is a campaign which has raised over $6 million in the matter of three weeks. the father-son combo changing the world as we know it. the hive that we used today to smoke people out, get the bees gets stung, having to scrape the honey off the comb, that has not changed for over 150 years.

you can just get the honey like gravity coming right out like beer on tap. they use a cell structure that enables them to have the bees fill it in. it empties. it then goes down with gravity. i need to fill it up. they tried to raise 100 grand. it is now over 6 million. they have been in 130 countries and seen in every country in the world. because honey is global. cory: if you are raising bees, you should get stung. it is just part of the way the game works. slava: it is wild. people will make honey just like beer 20 years ago. maynard: tell me about wrestling. wrestlemania is coming up. everything that goes on.

slava: it is wild. wrestlemania is coming to san francisco and it is so cool we have had different wrestlers, whether jake the snake all use indiegogo to get over their careers to get themselves back on the right track. jim mcmahon and wwe saw what was going on. they have actually partnered with us to raise money for charities. with special olympics, they raised over 200 grand. if you want your own specially designed belt, come out to indiegogo and get that funded. it is great and for a good cause. cory: people put money up and they think they will get a piece of a company and in the get ripped off. the history of stock fraud is long and strong. every year, someone is lying about something. in terms of letting people participate even in small ways we have heard some horror stories. slava: since 2008, we are proud to be the most trusted platform in the industry. there is no financial products. it is not a financial return.

it is not a loan. there is no equity you will get in return. that might happen when the jobs act gets signed finally it right now, you're getting some products or services or you feel good about getting that funding, just like in wrestlemania, you are getting the belt you will give to your kid and the kid will be so happy he got a diamond dallas page belt signed. for us, we helped to create an industry of trust and integrity in our space, just like what was done with auctions. we're doing that now in this industry. maynard: i would say any successful marketplace has to do with it is important you find a way fraud and bad actors. to make sure the experience is awesome and indiegogo is all over trying to make that happen. cory: thank you very much. it is time for the bwest byte, one number that tells us a whole lot. maynard: i am talking about employee engagement. only 30% of the people in the country are engaged in their jobs. what i mean they are excited to go to work every day and they want to do good work. most of the country actually doesn't enjoy going to the

office are going to their jobs. i think that is horrible. first of all, it is the place you spend all of your time. it is where you make your money. cory: what do you do about that as a ceo to make people like their jobs? on some level, there is a reason it is called work. slava: we are hiring above expectation and a lot of this is because we have a mission we are trying to accomplish, to monetize funding here to allow anybody. cory: how do you get them to care? maynard: they are in control of their destiny. your employer has to be there every day. you have to opt in to where you're going every day. cory: thank you very much. maynard webb, always glad to see you. i appreciate it. you can get the latest headlines all the time on your phone and tablet on

bloomberg.com and on bloomberg radio. we will see you tomorrow. ♪

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