emily: square has filed public leave for an ipo just as jack dorsey juggles a revamp and -- filed publicly for an ipo just as jack dorsey juggles a revamp and brings on a new chairman. i am emily chang and this is "bloomberg west." up, netflix mrs. analysts, blaming the new chip credit cards. crashing? close to

and another merger might be in the works. are said to be in talks. first, to our lead, the square ipo. filing fors company an initial public offering, looking to raise 275 million dollars. placeholder and will probably change. jack dorsey is pulling double and as ceo of square twitter. he is trying to restructure the social media company. joining me now is the bloomberg head of global technology, brad stone. let's dive into the numbers. square is making money but it's not profitable. brad: growth is slow, which i was surprised to see. the starbucks partnership, wow. emily: can we talk about that? because that actually cost them money.

ofd: there is a long history starbucks being a poor partner to technology. -- groupon gave black marks to starbucks as well. emily: where is the growth going to come from? part of thesting filing was looking at the breakdown of how big the .ustomers are customers bigger than $500,000 in revenue are growing. it looks like they are trying to move into a bigger ballpark, let's say, of customers. instead of just the small merchants that you typically think of as typical users of square. you would expect that would be one of the areas they are moving into. the notoriety of being a public

company might help with that. some of their competitors are out big in the space as well. want to talk to you, brad, about the risk factor and the fact that jack dorsey is the ceo of twitter. this may at times adversely affect his ability to devote time, attention, and effort to square. brad: of course. that is a risk. about it doesn't talk in his letter, interestingly enough. he actually doesn't mention twitter at all. alex, what you think about the fact that he is running both companies, and what are you hearing from investors? alex: they going to want to see him on the roadshow. as they go through the process and as they are pitching, that is one of the things they will pay attention to. another payment processor came in below range. you can see that investors are

may be taking positive in this payment space. as he is dealing with the problem child that is twitter and managing job cuts at that social media company, i think people are really going to want to see that he has a strong management team and that he has the right ingredients in place to take care of this company as well. morning we gotis some news out of twitter. dorseyour seed -- jack brought on the longtime head of business at google. he is taking on a more operational role. he is actually going to show up to work sometimes. i want to bring in josh ellman, a partner at greylock who worked at twitter for a time. josh, what is your take on ellman joining twitter question mark what does he bring to the company and to jack dorsey in particular?

in so manys involved of google's core decisions to grow the entire company. omid is going -- to be a steady hand, how you manage investors, and how you keep driving innovation. he really helped jack start up engine.vation what do you make of the fact that he has only tweeted like a dozen times ever? does that matter or is he an example of the kind of person twitter is trying to reach, people who have tried it but not stuck around. don'tpeople have said you need to tweet to use twitter. twitter can be an amazing source of news if you set it up right. reallyeven if he hasn't

been a twitter user so far, he is such an incredible thinker. emily: obviously, we know that twitter has some challenges ahead. jack dorsey has two big jobs and that's listed in the risk factors section. what is your take on the fact that jack is going to be doing both of these jobs at once? josh: there are two schools of thought. you never ask someone with more than one child how to you care for both of your children? the key to the measure of success is whether he has excellent teams around him at both companies. 'sviously, adding omid influence can only help twitter. is your take on the products that have been unveiled so far?

can twitter moments be the future of twitter, and what toer products would you like see? josh: moments opens the eye to what twitter can be. i think that part is incredible. i still think what twitter needs to do is figure out how to express everybody -- help everybody express their interests more simply. what technology do you like? what sports teams do you like? what news are you following? and then deliver those in a more timely way in and in gauging format that can be curated and made more excellent. brad, you have been covering google for a long time. how much more manageable does tasking omid on make this for jack dorsey? history of twitter is

ceo's coming and going, alliances being formed, people losing their jobs. it happened to jack already. the role of the board is to hire and fire the ceo. emily: and they have. brad: that's right. i think we are going to see more and more members in jack's corner to make them feel secure and give him the runway two, not maybe inosh says, but facebook small to give them a syndicate to build internally some other properties to reach that billion users that really haven't found the court twitter app to be appealing. emily: we are going to continue digging through the square filing and keep talking about twitter. brad stone, our bloomberg global tech editor, alex barinka, who joshs ipos for us, and

greylock on the phone. shares of clover -- of first to date are set at $16 apiece, below the $18 that was expected. coming up, is netflix losing momentum? ♪

netflix shares take a hit

in after-hours trading. they have recovered a bit now. investors are reevaluating the stock after reed hastings video streaming service missed on fronts.key analysts have been looking for millionllion -- $1.25 in profit. hi.ning me now is neil soc also joining me is the ceo of them io. neil, i want to start with you. .- of zimio neil, i want to start with you. netflix is blaming credit cards. neil: people have not renewed their credit cards and arematically subscriptions

dropping off. i think people are also reevaluating whether they want to sign up for netflix again. it may be season by season or show by show. some people might sign up during orange is the new black or house of cards and drop off later. narcos and watching i think it is great. do you think the content is just not as good? is doing well, as is daredevil. emily: bloodline. neil: netflix said they might be getting into news next year. we will see how their original movies do as well. you guys are just starting to get into original content. seeyou lay out how you

yourselves positioned in a world where there is also netflix, amazon studios, and the hbo's of the world? click certainly, the most zimio provides vi is a platform to upload your own .ork it's an open platform for any creator to use and any viewer to access on any device. if you think about youtube, it's almost like the open global version of broadcast television. equivalente global where any creator can use it to sell at free content. high maintenance was our first original series where we are investing in individual creators who we think are coming from a very different world than what netflix is providing. it's great content, still very

original. high maintenance is creators who found their way to an audience through vimeo and we are supporting them. isly: original content expensive, and netflix is spending billions of dollars to make the shows. how much is netflix spending and how concerned are you that they will be able to make up for it? spending $5re billion-$6 billion and they are continuing to raise debt on a regular basis to fund their original content. so far, i think they have managed their portfolio fairly well. we will see how they do over the next 12 months. ry, how costly as it for you guys to compete in original content? how much are you spending to make this idea a reality?

y: the key, again, for us is that we are focused on a very different tranche of the market. the orders of magnitude are quite different. however, we do believe there is a global community of high quality creators who can access their audiences directly, and we already have thousands of settlers on the on-demand system selling tens of thousands of pieces of content, and we will have over a million purchases of those content. while we expect in the year ahead to be investing in the eight figure range as opposed to billions, for us to highlight, support, and show to the world and viewers out there that this tranche of content exist, we are very excited about what we had -- have coming up. emily: you said it will take a year for your next original series to be available. why will it take that long, and will the first slate of originals you have planned be

enough to bring in new customers? kerry: yes, they will be premiering next year, but they will not be taking a year. shorte three series, a film, and a comedy special. the first will come out in december, the comedy special. then the next will be coming out in the first quarter of next year. they are actually going to be coming out in the next 5-6 months, and we expect to be rolling them out in more frequent succession after that. emily: quickly, neil, what is your outlook for netflix given the new information we have gotten today? neil: this is a company that has been executing on a number of fronts. they take a hit sometimes when they enter new markets. as we look at 2016, it will be a little more challenging. they are going to look at they haven't been in.

some of them are in asia. there could be more volatility as we move into next year. emily: thank you both. another stock we are watching today is maxim integrated products. maxim is in talk for possible analog devices. this was prompted by rising costs and a shrinking customer base. analog approached it about a merger. there is more change brewing in the semiconductor industry. semiconductor international has hired goldman -- fairchild international has hired goldman sachs to help it find a buyer. the search -- fairchild surged almost 16% at the close. up next, genetic testing startup

gets funding. we sit down with andy page in an exclusive interview.

emily: bloomberg is getting serious about the delivery business. rush is moving to san francisco and chicago. it was previously a pilot program in new york. it is no longer an experiment. while the delivery space is

saided, critics have long uber has the potential to wipe out the competition. here is an investor explaining it to me in june. ,> i did not invest in ship because i think it is something uber cannon will do. i think travis's -- can and will do. i think travis's ambition is boundless and his ability to execute is unlimited. investors should not count them out just yet. >> we have had a profit margin almost since we launched, for three and a half to four years now. in germany in the business school, the first order of business is to figure out if you have a profitable oil business or can have one. -- profitable business or can have one.

emily: you will be profitable in 2016? >> yes. emily: check out the full interview at bloomberg.com. 23 and me, the genetic testing funding ledt raised by fidelity. the plan is to use that to expand its new drug discovery arm, which the company set up in march. under the leadership of a former genetete tech veteran -- ch veteran. joining me now from mountain view for an exclusive interview, andy page, president of 23 and me. thank you for joining us. a lot has changed since you and the fda had a bit of a standoff should and3 and me

should not be doing. today and23 and me do what will it do in the future? andy: post fda warning letter, we no longer sold our health reports in the united states. we will be relaunching imminently our status reports. customerole new experience. the entire site has been redeveloped and redesigned. it's a very exciting development for the company. customer, what can i get if i come to you? if it's not a dna test or an ancestry test, what will i get? ,ndy: if you were to come today you would get ancestry. if you were to come after we launch, you would get ancestry, but also traits about yourself and fun information as well as health reports under what is the carrier status.

there is a tremendous amount of information and the whole site is designed around sharing with friends and relatives. it's an entirely new experience for consumers. me about the work you are doing with in-house drug invention. or what areas are you focused on? andy: richard and robert came enentech to lead our effort. they are using the world's largest database, with over a million people in it, 900 thousand have consented to research. using all the information we get from consumers who engage in research and answer questions. the combination is a unique resource to drive drug discovery.

and we a broad mandate, are extremely pleased with how it has gone so far, faster than we would have anticipated. as a result, one of the uses of proceeds from the round you mentioned earlier, is to build a lab that supports our efforts. emily: are you planning to seek out a big farm a partner or to do human testing yourself? pharma partner or to do human testing yourself? andy: it will be a combination of in-house efforts and partnership with third parties. we have not announced how early we will be partnering, but we anticipate partnerships along the way. in some cases, we may take the drugs fairly far along. in other cases, it may make more sense from a research perspective to partner. emily: thank you so much for joining us today and sharing

your vision. that does it for this busy edition of "bloomberg west." thank you for watching. ♪ we live in a pick and choose world.

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♪ from our studios in new york city, this is "charlie rose." charlie: you and president of mongolia since 2009. he previously servas prime minister in 1998 and again from 2004 and 2006. he's considered one of the principal architects of democracy in his country. theas one of the leaders of 1990 revolution that ended 70 years of communist ruling and co-draft of the country's 1992 constitution. this year marks the 25th anniversary of mongolia's transition to democracy.