♪ emily: i am emily chang. it this is bloomberg west. plus, is it a tech bubble or tech boom? how long the good times will last. big moves in that streaming

industry ahead of apple's announcement. all of that, ahead on bloomberg west. dish network in talks to buy t-mobile for years, but no indication a deal is imminent. still recent reports of a potential tie up have sent t-mobile shares up 2.5%. it would put the ceo at the top of the company, while dishes ceo , but together these companies have market value of $64 billion. good a deal like this help streaming customers question mar? alex sherman has been reporting on this. and a senior analyst from new york. you have been working the phones and you have status updates.

>> the wall street journal reported this morning that the two companies are in talks which is something that we had known for a while. they sort of through in a caveat on price restructure, but that is everything. can these two companies come to an agreement where t-mobile is willing to take some proportion of dish stock and cash? what's the premium going to be? t-mobile shares are at an all-time high. is dish, notoriously a cheap company, apologies to charlie -- my sources indicate that there is a big disagreement on the valuation of dish stock. the market has not taken into

consideration the value of their spectrum. can a deal get done surrounding all those questions? emily: the ceo deleted some tweets about this. not confirming or denying the reports, but singled out a recode article that he called a sad story. he was referring to the analysis of the reporting but it was like a t-mobile and dish as the last two people at a bar. this is what he recently had to say about it. >> they are in an adjacent industry, playing and services they could become from entry to what we are doing, and the customers are very -- better

served. markets will find a way. emily: should it happen? >> we think that there's never been more urgency for that deal to happen, so you have got the immense consolidation in the landscape. number two, wall street is -- they need more clarity on the potential use of dishes wireless spectrum. that is a particular sticking point. if you look at dish now, they have a significant amount of embedded premium resulting from the spectrum over the last several years, so we sense that that will be a major hurdle to resolve with t-mobile. having said that, i think it's not even conceivable that they will pull off this deal because everything put together, capital markets are still favorable,

wall street is itching for some deal to come together just to be able to realize a lot of this offset. mark:emily: what are your thoughts. >> i'm not an expert in this space. i believe we will see these attempted mergers in the future. the market is valuing growth. organic growth is difficult to come by so in so far as regulators allow these transactions, we will see them announced. emily: are the regulators on board with this? >> probably. this seems to be a much easier deal to go through. that leads to the point that deutsche telekom is set on selling t-mobile. they went through a potential dance with sprint. sprint got heavy push back.

there aren't that many dance partners left for t-mobile. what comcast want to go through the regulatory process again on a major transaction like that? probably not now. sprint might want to try again, but they would have to wait for a new administration. if deutsche telekom wants to do a deal, dish is the obvious buyer. emily: keith is a directv customer. i have comcast. what does this mean? >> it is an advancement of dishes long-term strategy of mobile video. they have slaying tv, which allows you to get your package of channels over your devices. -- they have slaing tv they can watch -- offer you a quad play.

you can have mobile video, wireless service tv, and it would be the first of its kind to offer that. emily: does this deal make strategic sense? what does it mean for netflix and who lou? -- hulu? >> rarely do you see a deal with a strategic motivation is equally balance, so i think this deal -- all signs are pointing to the breakup of the bundle. i think they are coming together with t-mobile and allow them to scale that. all signs are pointing to wireless and mobile as the future of consumer consumption and that's the way the industry has been gravitating to. emily: i know you will keep us posted as soon as you get more. thank you for joining us. the music streaming world is buzzing.

is sound cloud making peace with the music industry? it has made deals with 20,000 labels. pandora is holding its shareholder meeting right now, days after a bought a local station in south dakota. it is a move for better royalty rates. over spotify, it tosses out physical john was. -- genres. we are expecting news at monday's developers conference for apple. jay-z's platform is fighting to gain traction. uber ceo sees one million new drivers. where does that leave lyft?

the internet is flipping out for fallout 4. ♪

emily: hp is in the middle of a historic split. the company is hiring 4700

positions nationally. the company sees 65% of sales coming from overseas. make whitman has said there are going to be layoffs. hp was nearing a deal to buy computer sciences. talks broke down. i had a chance to sit down with meg whitman to get her take on navigating the change the company is going through. >> it is hard. when ever you come into a turnaround, and i have done a couple of them, it's harder than you think. even though i was on the board, you find out things that you could not see as a board member. it has been tough. the company has been through a lot. it just takes perseverance. emily: you can catch the rest of my interview with meg whitman on studio 1.0 tonight at 7:30 p.m. eastern and pacific. uber turns five years old this week. the ceo tallied up how big the

company has become. >> already there are over 26,000 drivers in new york. ticking thousand drivers in london. 10,000 in paris. 42,000 in china. recently, our millionth driver took his first passenger on an uber trip. we expect another million people to drive for over. uber. emily: it's nearest competitor lyft is still far be behind. we have talked about this before. are your thoughts any different? do you see uber and lyft both being huge players. >> i do. the story is how cities are being transformed and car

ownership is changing. they are at the edge of a transformation society. it was important to be able to afford and buy a car. that is starting to change radically in the united states. we are also seeing self driving cars from google and other starting to come into play. it's inconceivable that normal americans were own cars and drive them to work in the way that we grew up. that is the bigger change. transformation driven by uber lyft and google. emily: will that mean more drivers without benefits? how is it sustainable? >> in many ways. people will not own cars. i don't pay somebody to drive it for me. if nobody owns cars there may be lots of people who are working on those cars maintaining those cars driving

those cars, not all cars will be self driving. emily: i want to talk to you about twitter. and 8500 word missive. >> have you memorized it? emily: i'm working on it. he made a strong suggestion that google should buy twitter. >> from a google perspective, it's a no-brainer. if you have the market capital. i tweeted this 3-4 years ago. i think that's a reflection of google not understanding social media. it was a no-brainer to buy instagram. you can't buy a company that doesn't want to sell. it would be difficult for google to buy them. it's not clear if google hasn't tried. twitter wants to be an independent company. emily: is this going to happen? >> i think unlikely. twitter believes in its future and impact. the two social products that

have transform society are twitter and read it. ddit. if someone made them an offer and throughout market capital it's a difficult decision to turn that down. emily: do you think the product has evolved. >> i'm addicted to it. i use it all the time. i do start my morning every single day and end my day with twitter. it is the modern newspaper. we would read the newspaper and glanced through it. that's what twitter is for the world. that's an important function. it's a $30 million market capital. it has been very successful. could it be better? possibly. could it innovate? sure. emily: i want to ask you about

the buy button's, foursquare paypal, could this cut amazon out? >> people will shop where they spend time. we went to the mall for entertainment and commerce. the modern mall are pinterest twitter, and facebook, were people are engaging and shopping. what empowers that? if you try to buy something on mobile, it's painful. there are companies like striped solving this problem partnering with twitter and interest. it can create a new commerce environment. emily: are we going to see square? >> square is an independent company. i can't believe they will be acquired. it is vibrant and successful. i do think there is a shop that paypal gets acquired. emily: who should buy it? >> i think a lot of people will

try. samsung visa google. emily: we have to throw google's name in there. i want to ask you quickly about your apple watch. i got mine today. you have three of these? why? >> different styles and moods. my job is to test products and use products. i think it's important to see the subtle differences. risk sizes -- -- wrist sizes, etc.. emily: thank you for stopping by. >> reports of nuclear detonation. >> my god. emily: this is the trailer for fallout 4.

it came out yesterday and has gone viral. we've heard nothing from fallout since 2010. back then, it shipped 4.7 million games were $300 million. the internet is so excited that sales of fallout have risen dramatically on amazon. some game makers just don't seem to need mobile. up next, everyone's favorite topic in the valley. tech bubble. ♪ have you ever wanted to swim with sea turtles or export the great barrier reef question mark now you can virtually through google maps partnership. there are more than 40 locations to choose from. ♪

emily: it is time for the daily byte. uber. mark: john:7.12%. he spent at least $630 million to buy more than 11 million shares. here is the issue. he opposes a $9.3 billion deal that would of tightened his grip on subsidiaries. it is a de facto holding company. lee is the biggest shareholder.

with the 7.12% stake, he becomes the third largest shareholder, buying him the muscle to disrupt a family secession plan. now, to the biggest debate in silicon valley bubble or boom? new enterprise associates racing the biggest venture fund ever over $3 billion. is that a sign of confidence that there are still great investment opportunities? bubble or boom? which is it? >> i'm with mark benioff. it's a boom. it's not about the valuations but the fundamentals in disruption in which we believe will create companies of tremendous by you and change every industry. emily: there are more unicorns

than ever. how many are masquerading/ ? how many will go to zero? >> if i had to bet on a portfolio of them versus other companies, it would be a great portfolio. they will turn out the way a venture fund turns out a few companies make all the difference, and a lot that don't work out at all. on the whole, i think we will see spectacular results. emily: a third or so? >> if you look at any decent venture fund, 30% go to zero. you invariably only have a small number of companies that make the difference. emily: if it is a boom, how is your job different now than it was in 19 any nine? -- in 1999? international investment firms getting interested in tech.

how do you differentiate? >> i characterize the environment differently. just like the late 1990's, there are lots of angels, $20 billion a year. at the earliest stage of the company formation, there is tremendous activity which feeds the ecosystem. the venture capital ecosystem is smaller than it was in 1999. there was a $100 billion raised in 1999. it's a great time for venture capitalists. we get to see all those things being born and hopefully find the best of them. in the later stage, you have people from all over the place coming in, which is enabling all these companies to grow and stay private longer. emily: we are seeing record valuations. are these fair? do you find things are

expensive? >> things are very expensive. if you look at the data series eight evaluations have doubled. that's the big worry. emily: how are you hedging your bets? >> you want to be selective about the companies that you invest in in the later stages of the journey. we are looking for companies that can be really large and are emerging as leaders in the category. we go early where few people will play. emily: the ceo of h he says there is a lot of consolidation coming to attack. -- of hp says there is a lot of consolidation coming to tech. >> the difference to me between now and the late 1990's is that you don't have to merge with anybody. my favorite example in our portfolio is casper, the mattress company. these stanford graduates --

emily: i have a casper mattress. >> they are growing like crazy. they would have gone to work for a mattress company in the late 1990's. emily: we have to leave it there. thank you for joining us. ♪ >> the bwest byte is brought to us by innovators at qualcomm. qualcomm, why wait. ♪

♪ >> hillary's rodeo. just cattle call -- jeb