♪ >> this is the best of bloomberg west, what we have an interview to the week. coming up, apple introduces a smaller and cheaper iphone. how are investors digesting it? we will discuss. we remember andy grove, a plus, founding father of silicon valley and a mentor of the biggest minds. and i sit down with shopify, checking in with the e-commerce company as reports swirl of an acquisition by google. first, to our lead. apple unveils a new iphone, the

iphone se with a smaller screen and smaller price tag. starting out at $399, it is the cheapest new iphone ever. the company appealing to both to customer -- loyal to the iphone 5 and new buyers in high-growth markets like china and india. investors initially were not crazy about the reveal. shares dipping as the event got underway, but i do want to point out that investors are typically slow to digest apple product announcements. looking back since steve jobs died in 2011, shares rose 1.5% after product launches, but retreated 1.8% three months later. right after the event, i spoke with gene munster in minneapolis. i started by asking, how will investors look at apple?

>> i think investors are already concerned. they should take away the are being finally more aggressive, may be appropriate the aggressive but the pricing that should be more resonant with the emerging markets. this is a great price point because it will be more attractive, but at the same time, not at the cost of their margins. so investors should feel good about that. the second piece, the march guidance they gave, many investors believed that included the anticipated lower that is a end phone. that is a sign that it will not be out until march 31. the quarter ends on march 26. that means the march quarter doesn't benefit. an investor, one of their takeaways should be to feel better about the march guidance based on the timing of when the phone is available. emily: porous, this is the

lowest priced iphone ever. will this help reinvigorate iphone sales? >> i think iphone sales are doing well, just not growing. let's be clear, there are one billion devices out there, not all of them iphones, but we are looking at a huge audience that is going to expand. perhaps slower than we are used to, but one billion people potentially using apple devices . now, how much faster can they grow? how many more users are not consumers of iphone? again, there are several billion people on the planet. probably most of them will have smartphones in the next two years. there is always going to be that green opportunity for them. i don't know if this is it. i think that we will see more iteration. -- iteration over the next few years. they are just going to keep improving this product. emily: who is going to buy this phone? is it for people in emerging markets? for people who have not upgraded yet? people who already have an iphone, but want the smaller screen? who are they targeting? ben: there is a range of things. when we look at intent to

purchase and the installments, we see a portion of the base that has not moved. it is not always price-driven. invite be a portion, 20% of our annual said they wanted to upgrade but are not sure about the size. they will upgrade at some point. which device will they choose? it will be up to them. do they like the small? i think the existing base, the holdouts that are adamantly set, that is relatively small. if our panel indicates correctly, that is 10% to 15% of those owners. the important thing is that they are bringing the platform up to current generation technology, but i do think we are seeing, they were very intentional saying that a first-time buyer typically buys in at this screen size. it also has to do with the price. if you look at rural china, parts of india, indonesia, it is the price point. this is indicative of a maturing middle. consumers, as they grow and mature, saying i'm drawn to

apple and like the apps, they are willing to pay more and apple is meeting them at the middle with this price range. emily: to what extent is apple swimming against the tide? there is an economic slowdown happening in china, potential economic hiccup in russia and brazil. the smartphone market is quickly saturating. to what extent is this outside of apple's control? >> a lot of it is. they are still doing well in some emerging markets. for example in china, units grew at 18% year-over-year, and a big deceleration since september, but better than overall industry growth of smartphones in china, close to 10%. so, yes, they are up against the headwind. everyone is up against the headwind. i think the shares reflect that given the multiple that it is trading at. most importantly, when you put it all together, it should be a mid to high single digit growing business for the next several

years with the benefit of the emerging markets. even with the headwind, it should be a growing business. emily: we are seeing a very low priced iphone and a watch cut, lowering the price by $50. what you make of that? could this impact the brand? >> my thinking is not on the price of the device purchased, . the question is what is that price on a per day basis? if you work out how long they stay in use, are upgraded, you get to an interesting dollar per day figure. i used to say that an apple product on a one dollar per day . i worked on that model and refine it a bit and now it is , $.70 per day. on a per product basis we saw what apple published $17 for the : lowest iphone and up to $31 for the most expensive -- not the most expensive, but the high-end model. think about that.

$30 a month, it is $1 a day. $15 or $17, that is $.50 a day. this is how i think we should think about these products, and ask ourselves, how many of those customers there are and how many are going to add services on top of that? we are looking at $10, $20 a year in additional service revenue per device. all of that can be boiled into one model and reduced to how many users you have, how much they spend on each device, and you get a valuation. emily: you have done a lot of work on the watch. nobody knows just how well the watch is selling. you are wearing yours. my two guests earlier have them but do not wear them. , we are now seeing a price cut. can this be more than a niche product? will it be more than a niche product with an update or redesign? >> there is a couple of ways to think about the watch. one thing is that this was not something preceding it that gave

us a frame of reference. the iphone was built, most and of us had future phones understood cell phones. the ipad was successful because we were familiar with the iphone. this is such a brand-new category of product, it takes time to get your brain around it. we still see high levels of consumer satisfaction, which is not your techies. we see within the mainstream markets, your everyday buyers who are finding values in the notifications and messages and health tracking. this is just version one. we are optimistic that this product goes. again, the question is how big is the size of the market? we will have this are all new categories that come out from vr to whatever. will talk about how big is the opportunity for the markets? the research that we see continues to suggest that there is certain something there. how big that goes is going to be the constant debate. they will continue to evolve this product. putting a modem in it and unbundling it from the iphone , speed up its performance,

better improvement of native apps. those will come as it matures. as a v1 product, what we are seeing in the market is positive. there's something there, but it is in its infancy. emily: ellis piper jaffray and managing director and senior researcher gene munster, horace and ben. coming up, we remember one of silicon valley's founding fathers. intel's former chairman andy grove who died on monday at the age of 79. we will look back at his legacy. ♪

emily: this week, the tech world has been mourning the death of andy grove, who died on monday at 79 years old. he played a central role in the creation of the semiconductor industry on which today's turn internet age is built. he was a mentor to steve jobs, larry ellison, and mark zuckerberg all turning to him for advice. i spoke to tech leaders who knew him, including craig barrett, who took over as ceo of intel.

he joined me by phone and began telling me about the impact andy grove had on him personally. craig: i worked with andy for 35 years. and, you know, i greatly respected his insight, his wisdom, his strategic thought, and how straightforward he was. i think he was the most direct human being i ever met on the face of the earth. he knew exactly where it was coming from. he always had a great strategic idea of what to do next. emily: intel was known as the world's best managed company, yet he was also known as a ruthless leader. yet, people still followed him. what would you say were the hallmarks of his style? craig: i do not think "ruthless" is the right word. i think being straightforward and practicing constructive confrontation, which is one of these intel buzzwords describing their culture.

andy always knew where he was coming from. he would not tolerate shallow thinking. he wanted every strategy well thought out, well considered, and he did not mind challenging anyone in the company, or the industry for that matter. emily: what was it like trying to fill his big shoes? would he continue to try to influence you even when you were the ceo and he wasn't? craig: no, well intel has had, such a tremendous history of leaders icons in the industry. , bob noyce, gordon moore, and andy grove. following those three is a daunting task for anyone. but i worked very closely with andy in a consulting basis after he left the ceo position. i followed him. he was helpful. he was respectful of decisions i made. he was a wonderful mentor.

he did not overstep, overreach. and he respected the next generation of management coming into play. emily: young ceos revere andy grove. his book on management is like the bible. i wonder, do you think his leadership style survives generations, or can other styles be just as successful? craig: certainly, there is not one way to manage a company. andy imprinted his style into the culture of intel. and the company goes to great pains to really indoctrinate all the new hires into the company, into the cultural style, where strategic thought is important, constructive confrontation. addressing issues, running communications up and down the company. the lowest level employee feels free to contact the ceo at any time with an idea. all those were things andy put

into the company and into play. they are still all alive and well. emily: former intel ceo and chairman craig barrett. when we return, i will speak with one of the men andy grove mentored. ben horowitz of andreessen horowitz. we will hear more about andy grove and his extraordinary life. later in the hour, i sit down with a ceo and later in the discussed the world of cyber security. ♪

emily: as we remember a pioneer of the computer industry former , ceo and chairman of intel, the late andy grove died on monday, i spoke to ben horowitz, cofounder of andreessen horowitz who had his own special relationship with andy grove, a beloved mentor and teacher. he began by talking about growth's role in shaping silicon valley. ben: not only did he build the foundational company, and to get

to the microprocessor intel was in the memory business for the first 13 years of its life, which is an eternity in tech. and he faced brutal competition from the japanese, including subsidies from the japanese government to his competitors, which forced him to switch the business that late in its life to microprocessors, something he foresaw might be a big market, but at the time was tiny. intel, as a result, the u.s. ended up being the center of the microprocessor market and the pc industry, which led us to be the center of the internet. he kind of was the foundation for the u.s.'s leadership in technology. you know, that was a really big thing, but beyond that, he was also the cultural foundation of

silicon valley in that his leadership in turning around once he achieved what he did and making sure others knew how to do it was unprecedented. really, nobody has done it as well since, but we have lived off of it and it has made every , company off of it, that has read the book or followed andy grove better. emily: that leads me to my next question them a which is, the idea of a turnaround is still elusive to most big tech companies out there with perhaps only apple truly turning itself around. now we are seeing yahoo! and ibm going through very difficult times. what do you think andy grove's advice would be to them? or what did he think about them in his final months? ben: yeah. there is probably some things he said to me i should not share. but i will say this, i think that the thing andy and a steve

steve jobs had in common was the y had the courage to take the company in a direction that maybe nobody at the time really thought was a good idea. and i think what you see a lot in leadership now is what i would consider more followership. what do the shareholders want us to do or what do the analysts think is a good idea? and you look at what steve jobs did with apple or andy did with intel, no one reported on it. nobody was an armchair strategist. neither would have sent them in the directions they took. but they did the work, they knew what the right direction once, was and were ok with whatever , happened to them. they were ok doing with doing what they believed was right. i think that defined andy as a leader. the thing that people who follow him take away is that courage

and determination to do what is right. emily: it seems like so many young people want to be opera entrepreneurs, want to come to silicon valley and let the silicon valley dream. what was his take on you onto the young entrepreneurs today? some who may be called overly arrogant or naïve, and what lessons should they take from andy grove? ben: i think andy really continued to believe in people and even the young people, people considered arrogant, he . he spent time with a lot of the young ceos. drew houston of dropbox, mark zuckerberg of facebook. if you look at mark's career and what he has done with the company and philanthropically, you can see that he has learned a lot from andy. he knows the importance of giving back. andy's career was so influenced

by how grateful he was that this country took him in as a refugee at 18 years old, he had nothing. he came over on a boat. he got a few dollars a month and -- dollars from us and we let him be a citizen. and he never, ever stop trying to repay that. he paid it forward to all of us. it is such an amazing thing. that level of gratitude and belief in humanity is what we all try to take from him. emily: ben horowitz speaking to me about the death of former intel ceo andy grove. now with me to discuss, our intel reporter, ian king. he met andy many times. i want to touch on something that ben mentioned, how he became this way. how did he become so great? share a little about his story. ian: he wrote a moving book about that process, his childhood growing up in europe during the war in eastern

europe. being jewish, what happened to his family when the nazis occupied hungary, and when it was fought over by the soviets when they took it over. how his family was persecuted , and how he had to escape. emily: you met him many times. what was he like? ian: scary. and inspiring, but scary. everybody we have spoken to, they all talk about his intellectual honesty, his love of the truth. that was absolutely what he was like. you couldn't have a flirty, flattering conversation. he was not interested in his own celebrity or power. all he cared about was getting to the truth. he would push people's buttons until he got what he felt was useful out of them. emily: david kirkpatrick is still with me. david, i'm sure you have your own stories about andy grove, having covered silicon valley for so many years. how do you remember him? david: listening to all of these

wonderful comments that you have been sharing here one thing that , has not been mentioned is that he played a key role in building the ecosystem that is silicon valley now. you know, this complex relationship between microsoft and intel that led to the incredible success of the pc, which he was one of the great champions of. bill gates is not a pushover. andy grove was a formidable match for him. it was necessary in those years that both companies were led by super strong, super intelligent, rational but feisty leaders who wanted to win and push each other around. in the end, they knew they had to win together. that is just one of many things. he was not mean, but he was very gruff and straightforward. he was an incredibly nuanced thinker. there are so many wonderful things about him. he was generous, too. that is something that might not have come through some of the other comments. when i first started covering

tech, he took time and got to know me and give me pointers on what i should think about. emily: quickly, your profile of andy today opened with this amazing anecdote about a conversation he had with steve jobs and larry ellison. share that with us. ian: they went to his house on his birthday to celebrate. they both thought, by way of tribute, they would tell him that he was the only man in silicon valley that they could ever work for. his response was that he would not have hired either one of them. he thought they were flaky. emily: he told them they were complete flakes. is that the andy you know? david: that sounds very much like andy. he was not going to sugarcoat anything. he was not mean. he just told it like it was. you had to be braced for unpalatable truths when you hung around with him. but he wasn't going to mess around or waste your time. he wanted to make a great andany and progress

industry, and he was ultimately a great american that wanted to build the country up. emily: that was ian king and david kirkpatrick. up next, we will speak to the adobe ceo about the areas of focus beyond products like photoshop. we head to las vegas, next. if you like bloomberg news you , check us out on the radio. you can listen on the bloomberg radio app on bloomberg.com and in the u.s. on xm. best of "bloomberg west," continues after this break. ♪

[applause] emily: welcome back to the best of "bloomberg west." i'm emily chang. turning to cyber security, it is one of the hottest startups disrupting the industry, pulling in hundreds of millions of funding. they're racking up $3.5 billion in valuation. this week, i spoke to cofounder orion hindawi, who took the

reins of ceo from his father. orion: i think we are doing what i have wanted to do for eight years, which is something we are proud of, ship it to customers, and have 99% of them renew every year. so the really interesting thing about our business is a lot of people obsess about things like revenue, cash flow and i do, too, but what is important to me is that our customers love our what we do and they are able to all out our technology every year and they do not like and replace it with tanium. emily: you raised another $100 $300 million you have not touched, is that the case is ? >> yes. why take new money if you do not need it? orion: i said a year ago that what was happening in the valley could not continue. that we were running in a a very profligate environment. a lot of people were spending money like they didn't know what to do with it. they were just wasting it. i thought there was going to be a real turn. we saw an opportunity to raise

money primarily because we did not we could do it again for a long time. if you look at the market now, it is very likely people will not be raising money in york at anywhere near the valuations they want for a long time. i am happy we break it so we have the cushion to execute without having to worry about the dynamics of the market or if there is a downturn in the economy. emily: who gets left. -- left behind? orion: people are being left behind already. emily: what companies? orion: in the security industry, there is point solution after point solution that is losing millions of dollars per year and that are desperately trying to raise money or be acquired. eyesight was just acquired by fire eye. they fled into surveys arms. sometimes the acquired are unsustainable and will be a target for acquisition. a lot of the security market does not deserve to exist. i think that will shake out soon.

emily: in this age where there are more cyberattacks than ever, we are more at risk than ever are there a lot of companies and , people in danger because their cyber security firms are not doing their job? orion: 100%. a lot of people are relying on a foundation that is crumbling. i think very quickly, they will have to take antivirus and firewalls and some of the endpoint capabilities they have and some of the companies they deal with and upgrade them if they want to prevent the next attack. the reality is our attackers are stealing billions of dollars a day of credit cards and health care data. the are not going to stop. if we do not as an industry provide great solutions, our customers will lose that ip and patient information and credit card data at an increasing clip. emily: apple versus the fbi, . what is your take? orion: it is more complicated than people give it credit. i know in the valley it is a very popular to say definitely apple but the reality is our , society is based on the idea

that a warrant, when issued, should be followed. if we end up with a black box in everybody's pocket, law enforcement will have a harder time doing their job. conversely, if you break encryption and put backdoors into products, we all know that does not stay secret. it is a difficult problem to solve with a pat answer. while everyone wants to say encryption is awesome, if you which i agree with, if you don't have law enforcement, the society breaks down. emily: should tech companies be able to create warrant-free spaces? should the government be able to look at this? orion: i think the government has a reasonable need to get to data to prevent the next attack. if we build systems that are so closed that it is impossible for them to do their jobs, i'm afraid we will all suffer. emily: you said an ipo is in your sites. it is only fair to employees. is that something we will see this year?

orion: this year is a really hard thing to answer. here is why. i don't know what will happen with the market. i think people are realizing it is frozen. i have seen the ceos counting on going public that are terrified. they are losing money, but they thought the market would make up for it. now they are realizing that won't happen. we are in a luxurious position where we are making money every quarter. as a result we can choose when , to go so we aren't forced into an unfriendly market. i will say, i continue to believe our investors and employees and even our customers deserve to have us go ipo. emily: you think they would like to see you become a public company and with that help your reputation? orion: i think they want to see we are running a tight ship. they want to know we will exist in five years. frankly, some companies that have gone public opinion price are paying the price for it. when customers look at their financials, they realize they are non-substantial. we are very clear. emily: i caught up with the

another ceo this week, adobe's ceo. the company is in the midst of a multiyear effort to shift its product lineup from desktop to the cloud. the strategy seems to be paying off. adobe shares were higher after the latest report. sales and profits beat estimates for the first quarter. adobe boosted its forecast for the full year. i spoke with the ceo in las vegas, asking him how he looks is looking at his business. shantanu: in q1, we had a strong quarter across the board. all three of our growth businesses -- the creative cloud, adobe marketing cloud, and adobe document cloud did well. creative, as you know, we successfully reimagined the creative process by moving the business to the cloud. in the marketing business as well, we had a strong quarter. i think what is driving it is every single business around the world is talking about the impact of digital and how they have to put the customer front and center. our products and technology

enable them to make the transmit that transformation. we are seeing demand for digital, and that is boding well for adobe. emily: you are very close to completing the shift from subscription to license based sales. in what particular areas of the business are you seeing the most strength? shantanu: i would say that we are through the heart of the transition. that is why we have talked about in the latest earnings how the creative business will grow greater than 20% this year from the peak. the marketing cloud will grow at 20% this year. so i think both of those businesses are certainly fueling their growth. in creative, it is all about the mobile applications that are being created. all of the video being consumed on mobile devices. on the marketing, it is about replatforming the core infrastructure to deal with the demands of digital. emily: longer-term, what of the are the areas of competition

that you are more worried about? we have been talking about andy grove today the day after his , passing. his famous line, "only the paranoid survive." what are you paranoid about? shantanu: we're paranoid in just like every other company in terms of how technology will disrupt the entire industry. i think the good news for adobe is that we have always been a product company at our core and in our dna. as long as we continue to innovate we have transformed our , businesses by focusing on the customer. while you are always looking for that next innovative startup, and with individuals who have a great idea, i think, you know, we have been continuing to innovate within the company, and will continue to do so. emily: you are in las vegas where you are hosting a digital marketing conference, which may be one of the lesser known areas of your business. it is not photoshop. it is not acrobat. why is marketing a big focus for

adobe right now? shantanu: we have always been about art. if you look at the impact of our products like photoshop, illustrator, indesign, and premier have had there is not a , piece of communication out there that did not have some use of adobe software. a few years ago we recognized that the world was moving to re-platform its web infrastructure. every business had to put the customer's digital journey front and center. we recognized that if we have could bring together what we have done with art with the science of marketing, that we thought that would be a unique opportunity. supply chain had been automated. finance had been automated. hr had been automated. nobody was targeting the chief revenue officer, the chief digital officer or the chief marketing officer with technology. we are the undisputed leader in that category right now. it is a business that continues to grow north of 20%.

it is greater than a billion dollar business. i think we were first to recognize this large, untapped opportunity that we think will be something like a $25 billion plus opportunity. emily: that was the adobe ceo shantanu narayen speaking to me from las vegas. coming up, shopify extending its partnerships even as reports say it may be a target, and acquisition target or a silicon power player. we will hear from tobi lütke. later this we dive into the hour, world of space startups. stay with us. ♪

emily: reports this week that alphabet might be eyeing acquisitions for their cloud business. one of the companies is said to be on the shortlist is shop ify, which provides for

vendors selling items on pinterest and twitter. they are not stopping the software maker from forging new partnerships, announcing new platforms like the coupon app ebates. the discovery app and the home design platform. shopify's ceo tobi lütke going joined me in the studio to share more. tobi: this is going really well. they picked us up the year ago with the idea that let's get in more places. let's give people a place to where they can show their products and buy these things directly, and it has been going amazingly. we have great partnerships and as you mentioned. this is a continuation of it now. emily: facebook has tried e-commerce before. it has always fizzled. why is it going to work now? do people really want to shop on facebook? tobi: if you think about it, what is behind a lot of facebook's business is ads. they are advertising places that sell products. shopify is for advertising anyway. closer together and

taking advantage of identity and maybe the credit cards that facebook has on file -- a compelling experience for the people shopping. emily: what about amazon? tell me about sales. how much, in terms of sales, has been generated by the amazon partnership? tobi: amazon partnership has been mostly about their web store business. they brought over a lot of merchants that have been selling on the platform. it has been a great partnership. we have bee enabled payments directly through amazon, the bringing the ability to ship the product directly into the amazon marketplace. it is a meaningful channel for the people on our platform. emily: you are partnerships with amazon and facebook already. what about google? what have your talks with google been like? tobi: yeah. it is a little bit hard for me to comment. i know where you're going with this. emily: ok, let's talk about the elephant in the room. has google talked to you? are they trying to buy you?

they have their own efforts in shopping as well. tobi: as a public company, i cannot comment. emily: do you wonder about google as a competitor? google is expanding its shopping efforts. do you think about that? tobi: google and everyone else in silicon valley frankly is finally taking e-commerce seriously. everyone realizes what an important role it plays. what we want to do is we just want to be a neutral office. we want to power the merchants. we love helping entrepreneurship. we want to make it easier to build these online businesses. no one paid attention to how difficult this was becoming. we built the back office. we are getting your orders in and getting your packets out. and then we integrate with facebook. we give you online stores or you can sell directly. that is really our role. emily: you're getting so much

information about the payments business because you work for with all of these businesses. who is winning in payments? is it paypal, stripe? tobi: they both have a good place. now, paypal, through acquisition of a company called norv is, and in stripes' case it is more home-built, but it is a sign of how products like retail is very really important to everyone. we have looked closely. if you sign up for a new shopify, you get shopify payments, which is related to stripe, and we automatically set you up with paypal as well. emily: now, the new trudeau government is making tech part a big part of their plan. just another big boost today. how does the canadian government keep entrepreneurs from moving to silicon valley and taking their ideas here?

tobi: well, coming to the valley, i always meet a lot of canadian friends. [laughter] it is the ambition of the canadian government to get everyone to keep building the companies in canada. we started in ottawa. we have 4500 people in canada. it is suddenly a great place to build long-term companies. the new focus is very welcome. justin trudeau is savvy on technology. he really, really understands it. it is fun right now. emily: that was shopify ceo tobi lutke. coming up, we dive into the world of space startups and the speak with the first accelerator for the aerospace industry. stay with us. ♪

emily: this week, i had a chance to look at the world of space startups. the starburst accelerator, after starting out in france, is setting up shop in los angeles, helping aerospace companies off the ground.

i caught up with founder francois chopard about what he is excited about. why did you start this accelerator? what kind of support do aerospace startups need, besides aside from a lot of cash? francois: i am an engineer by my background. i worked for the u.s. air force research labs. i'm passionate about aerospace. then, i've been doing consulting on innovations for the past 20 years. emily: so, you are in paris, l.a., munich, singapore here it . why these places? francois: we wanted to be global. our startups need to be connected to grow their businesses with large corporations as fast as possible. these four locations for us the , major hub combining aerospace, science, corporate aerospace, also money, and entrepreneurs, and we wanted to be in all the locations where the startups can

meet and collaborate with large corporations. emily: where does space talent cluster? where do you find these people? are they coming to you? francois: it is a combination. we start with universities, whether in the l.a. area, m.i.t., asia, europe -- these and these people, these engineers with phd's want to do something different. they do not want to work for large corporations anymore. they want to make a difference. they want more autonomy. they want to be more empowered. they want to put their name into history like elon musk with spacex. emily: so, they're not only trying to build rockets like musk and bezos and branson. francois: there are so many different subjects and startups. we are working with more than 300 of them across the globe. out of the different areas, we can name electric cars, vertical

takeoff and landing capabilities. we are talking about -- there are probably 20 startups working in that area. there is a lot of them that want to work on satellite constellations, whether it is through more observations or communications. inside the aircraft, a lot is going on. in the cabin, for example, more connectivity with the startups do big seats, comfortable seats, and big data. there are more sensors. we want to operate aircraft that are smarter and more efficient. emily: now, a lot of people think of spacex as the only space startup. there is also sierra nevada. it is a company we've had on this show. do you think we will see more space and aerospace startups on the main stage? when and why? françois: definitely. beyond spacex, people are

spurred by what he was able to demonstrate with a proper business model and good valuations. it showed the way too many more of them. now, with that, there is more and more who want to invest and more and more entrepreneurs who want to develop their own products. there are 300 to 400 mature startups with strong technological world-class products coming to the market. so, maybe not all of them will succeed, but the landscape in 10 years to 15 years will be completely different. emily: and elon is helping? françois: of course. by what he is doing, what he has announced with hyper loop. to launched he wants electrical cars. yes, by showing the way, of course he is helping out. emily: that was the starburst accelerator founder francois chopard. that does it for this edition of the best of "bloomberg west." we will see you again next weekend. ♪

>> "brilliant ideas" powered by hyundai motors. ♪ narrator: the contemporary art world is vibrant and booming as never before. it's a 21st century phenomenon, a global industry in its own right. "brilliant ideas" looks at the artists at the heart of this, artist with the power to astonish, challenge, and surprise. in this program, new york-based ali banisadr. ♪