>> he's back. twitter reportedly named jack dorsey as its full-time ceo. johnson. this is "bloomberg west." model x hits the streets, but that company, can it hit sales targets? rave reviews, but does it matter. ? a reversal of fortune for alibaba.

with a fourth straight monthly decline. now to the lead. meet the new boss. the same as the old boss. jack dorsey as the permanent ceo, according to recode. twitter stock spiked immediately. that helso reported will continue to run square, the company he founded where he is still ceo. dick costolo's the parter is in the cards. has been in that midst of a high-profile ceo search. reported that they reached out to many leaders , but none took the ceo job. ellen teaches corporate berkeley. in

womack, working the story. this-- i don't know if should be a shocker that the guy sitting in the chair is still sitting in the chair and will stay in the chair. >> this is according to recode. if this does happen, it's not something you see every day. two major companies being led by the same person. definitely raising a lot of eyebrows. on another level, we have seen it going on for a few months here. some people like what they see. some mixed thoughts on this right now. >> let me get to joellen on this. when i was a money manager back ceo,e day, the job of the the competence of that cfo, were in deciding whether a company was worth investing in. the notion that you could have a part-time ceo and a company

going through some of change, what do we know about this in terms of corporate governance question mark >? real shocker.is a i have never heard of it before. it is an interesting signal for twitter to send. i can read into it. signal it is sending a about where the company is going. what do you mean? what do you mean? you see it going where? to take seriously that someone can run to publicly-traded organizations for the long-term. if i were following twitter, i would say this is an indication that the company is about to be sold off. >> i was trying to get you to say that. what do you think? is it on the block? >> everything is on the block at

the right price. this is what that it is about the there are some unique circumstances in twitter. onhink a lot of it depends -- the operator and how much power he has. also the cfo is very involved. in a sense that you need the spiritual leader, the person who puts fairy dust on the product and provides insight, is it possible that that works in this case? maybe. mark zuckerberg inside of facebook, but while very involved, he does not run the business. could mark zuckerberg spent half his time with charitable endeavors? quite possibly. of course fiat, chrysler, so

it does happen, but these are , they both need to find some direction. let me put this back to you. the world around them is changing more than most their futurehere prospects better be better than the current prospects, with wouldn't you agree? >> you are onto something there. twitter has come under fire from investors. this is a company that has struggled to get user growth. , leapsk is growing like and bounds, twitter is a fraction of the size. that is a big challenge for any new ceo. meanwhile, you have square, company,a fresh, young

so you have a lot of things going on here. it's not a simple slamdunk. >> i'm thinking of elon musk, who runs spacex, private company, runs tesla, chairman of solar city, is there a sense that these guys are such fantastic geniuses that they have superhuman powers and are like tony stark or something and can do this? of --hink it takes a lot i hope we don't see it as a trend. these are extraordinary circumstances. as an investor and scholar for governance, i'm looking for an organizational leader who can take the helm of the organization and manage it into the future, whether that means managing operations or overall strategy or the public face of the firm in a meaningful way, i

think it is difficult to do that for organizations that are struggling to find what they're long-term value proposition will be an incredible way if your intention -- attention is divided. i would give them a less than stellar grade. >> berkeley sounds like an f f to me. resultsed to see some before we can give it a great. if i were grading on corporate confidence -- governance, at most a c. >> do you think that jack dorsey deserves blame for the problems that twitter has had under his guidance as ceo or as a board member? >> it is hard to know and less you are living in it. the c grade is worth noting.

it is suboptimal, but he might be the best choice that the company can make. >> thank you. thank you all. stock we are watching and company, but actually the stock, dramatic reversal of fortune since the largest ipo. the thing is tanking. a fourth straight monthly theine, all-time low, then company has seen close to $75 billion in market value a raised in's may. aina's slowing economy is concern. analysts cutting forecasts. for helping before the stock collapses. revenue rising 27% in the most recent quarter. it grew faster earlier. afterzing turn of events

going to the public market in saying that we need money to grow our business, now saying that we are going to take the money you gave us to grow our business and buy back our stop. the chairman, jack ma, has said that shareholders are not his top priority. savethe new tesla suv help elon musk and help his company reach a lofty sales target. uber, a mixed day for global expansion. good news, bad news, we will tell you both next. ♪

's model x. elon musk unveiled the highly-anticipated suv in california. the car receiving positive reviews. is it going to help tesla reach of selling 50,000 vehicles in 2015? , colin rush. vehicle,look at this what was the biggest surprise for you that you didn't expect? >> there wasn't much that we didn't expect. we were looking for extreme acceleration, the luxury and safety grading, which was already out there.

what was surprising was the subtle details around convenience with the accessory hatch and some of the features on the inside, but they had talked to discard very aggressively into the launch, and i think they delivered well. -- your model for tesla is interesting going forward. your numbers seem lower than the street and revenue basis. you think tesla will hit its big recently-lowered number of 50,000 vehicles in this calendar year. >> i don't think there is any question around that. they had discounted their production ramp for the model x. cory: what did you say about the production ramp? >> they have discounted the production ramp on the model s going to these lines.

that 50,000 vehicle number is very achievable, even with something going massively wrong. cory: you suggest the model x could slow the production of the model s. explain that. >> it's about how the lines are being used. once you switch over from one vehicle to another, the model x production takes time this web -- switch over. s, they were slow and methodical to make sure the cars came out high quality. they would do the same thing here and make sure they don't make any mistakes and error on the side of quality. err on the side of quality. this is not a production vehicle. cory: did they say how many they that areg to roll out nonproduction vehicles? >> they will be in the tens or dozens.

in ourt have any model s numbers. we are expecting shipments to begin next year. theyare demonstrating that can make these cars and get an automated line with the division production, the next two or three quarters. cory: you don't expect them to sell model x in 2015. ? >> we have not included any in our expectations. cory: you do expect them to sell the cars, but you haven't put the number in your model yet? ton, but wea think it is with estimates. cory: give me estimates on how far the car can drive. tesla has said the minimum how far a limit for car should go is 200 miles.

how far does this cargo? 250,e estimates are depending on the configuration of the drive train, and that exceeds that 200 mile limit. cory: the limit is also the supercharger stations clustered in 200 mile distances, a pretty big deal. >> absolutely. they built out an extensive network of around the entire continent, plus they have all the stations in people's homes where they can charge these things. waysf the more interesting to think about this company is the mobile network and stationary network they've got plugged into the electrical grid and how they will use that going forward. cory: when you look at the car , how good are the seats in the third row. seat sitting over will well would not allow a

person like me. >> elon is a big guy. he looks comfortable in that back row. inches.t six feet five cory: he is a picture of grace. he's like a superhero. he can sit in anything, i'm iron suit flying over the earth, don't you think? >> that's not my real expertise in terms of commenting on grace, but i will take your word for it. cory: colin rush is an analyst for oppenheimer. moving to uber, getting mixed reports from europe. in paris, they got a delay are beingo executives charged with running an illegal .axi businesses they could face prison

time and fines. a new set of guidelines, regulations, extensive regulations come mandatory five-minute wait time, operators banned from showing cars on its mobile app, and a move that could restrict plans to introduce their pool service. coming up, tivo tom rogers, the latest commercial-killing dvr. a secret fund for high-tech ,illionaires, mark zuckerberg jack dorsey, a dutch unicorn ahead. ♪

,ory: time for the daily byte 2.3, as in $2.3 billion. funding round from a secret investment fund, mark zuckerberg, jack dorsey among its members. $12.5 billion under management. it is the netherlands only unicorn, a technology company fight over $1 billion. pay processor for facebook, spotify. sandberg.r, sheryl

a new headache for advertisers, the bolt let's users skip an entire commercial break. and over theumers top of viewing experience if they have not cut the cord yet. good to see you. i own two tivo boxes. i pay you every month. of interest ilict have disclosed. >> i watched bloomberg television all the time. we are even. cory: describe your business. people don't understand how much licensing revenue you get. >> we really have for businesses, patent licensing, substantial revenue. we serve about 70 cable operators around the world. we offer tivo as the overall service. we have a retail business, tivo

bolt, which saves incredible time, new features. we have a data measurement business which measures second by second what people are watching and gives insight to the television experience. one thing we know is where that is going, audience non-ad supported services in droves. down 10%. cory: you see the raw data before anyone else has a chance to frame it. the networks don't even know you have it. >> it is a business for us, so they do. it has been striking what is going on in terms of the shift to add-free tv. cory: what are you seeing? >> you see it in cable channel numbers, broadcast network members, year over year high ,ingle digits up to mid double-digit declines in terms of viewing audience showing up, where i'm awful lot of that is going to non-ad-supported

streaming services. cory: are they watching more tv? >> in some cases, heavy viewers watch more because they are watching streaming services. others, given those numbers, are shifting their viewing habits away from commercially supported to non-commercially supported. we have always been part of the media industry. tivo bolt is a cable box. it is for court cutters if you wanted to be, but it is primarily for cable subscribers. they want to have a much better cable experience. they hold on to the service, they are adding to it. etc., a amazon, hulu, universal search that allows you to find anything anyway. cory: the biggest pain is that i've got so many services. my daughter wants to watch iron man three. pay for it.

issuesolve that completely. we allow you to go in and look at a program. it may be on ad-supported tv, pay-tv, on-demand, streaming service. we will show you where it is. you decide how you want it. this box is born to binge. it allows you to take a program, some of it may be has to seasons on a streaming service, live on tv you want to capture. it puts it all together in one pace -- place and gives you the ability to flip right through commercials and a single bound. places?l the different more storage. >> you have the ability to get through commercials in a single bound, even if you're not looking to avenge. we solve for what we call commercial over shoot it or

premature play it, where people can not get those fine motor skills right and this sells for that. --y: 30-second jump, then >> it could be three minutes, four minutes. you hit it at the beginning, and it takes you to the end. it is a binging machine. tv, which has been a speed bump. the advertising industry freaked out about this stuff and went after your industry. which wasok a course much more respectful of the needs of the ad industry, given what consumers were doing. now what we see is that consumers are abandoning advertising-supported tv. we believe they will watch more with this feature. cory: thank you very much stuff coming out of tivo. "bloomberg west."

we will see you back here tomorrow. ♪ ♪

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>> i'm fred-- >> "with all due respect," we are the original beltway boys. ♪ [laughter] john: happy national cider day. trump strikes a pose. the fundraising deadlines close. and we turned the tables on our friend, charlie rose. first, house republicans say oo oh--shoot.