republican convention this summer. paul ryan: let me speak to the delegates. if no candidate has a majority on the first ballot, i believe they should only choose a person that has participated in the primary. count me out. the comments come as a contested gop convention appears likely. donald trump and a hillary clinton have double-digit leads according to a new wall street journal nbc news poll. trump lee's john kasich 54% to 21%. ted cruz has 18%. misses clinton leads bernie sanders 55%-40 1%. the new york primary is next tuesday. accusing the vice president of attempting to overthrow the government days before the full house is expected to start voting on her impeachment. without directly naming the vice president, they said a leak of a recording where he discussed a

potential administration amounted to treason. global news 24 hours a day powered by 2400 journalists in more than 150 news bureaus from around the world. bloomberg west is next. emily: coming up, legendary investor and entrepreneur peter thiel speaking out about everything from marissa mayer's to the bubble that maybe everywhere. plus, mark zuckerberg lays out an audacious 10 year plan involving bots, drones, and virtual reality. it may be the most exciting business at square and is also risky.

about lending to small businesses and her time at yahoo!. my exclusive interview with peter thiel. we spoke earlier today at the 2016 conference and had a far-reaching conversation. he spoke about everything from marissa mayer to his fear of china. women in tech and the bubble that might be everywhere. how he really feels about college education. peter: the court thing has been focused heavily on silicon valley. shouldwondering if we try to look at some places outside silicon valley. yet a travel a crazy amount to do that which is why most venture capitalists don't want to do it. thingswe be doing more in other places? is there a point where the cost of living get so prohibitive

that it actually makes sense to look at things outside? or are the effects just so powerful that they dominate everything? the last few years, the effect has dominated. that is a question we are looking at. -- i do thinky that two thirds or three quarters will be next generation , i.t., consumer internet. the enterprise software, all these kinds of categories. and we will continue to try to do things in all of these non-i.t. areas. there are very big challenge is investing in those areas. they tend to be fairly contrarian and fairly

underexplored. emily: you just tired your first woman partner. what is your take on the continued lack of women on the venture capital industry? why aren't there more? and what is the industry's responsibility? we all have a responsibility to do more. we have two women in senior roles, but we all need to be doing more. i think that the context of this debate comes up. the disparities are really big. you had these really glaring disparities and something about tech that matters a lot. it's not like a huge disparity in chess players or math professors.

i think it's always in this broader context. people tell me that silicon valley focuses on this too much and i tell them it's because silicon valley matters so much in the disparities are really big. was looking at the unicorn list of 150 startups. them estimate, only two of out of 150 had women cofounders. very importantas to silicon valley and is excepting bids to buy all or part of the company. you said yahoo! is not a tech company anymore. what is the most plausible scenario? peter: it is still a very big media company. i think marissa has done a terrific job there.

it's just been incredibly hard company. probably the best one they've ever had. jerry was very good. and then marissa was far and away the best of all of the other people. i think it's in the context of how good marissa was. even marissa can't quite get this restarted. you already have the best person you can get, then the logic is that if it's not working, look at other possibilities. it's a very difficult space where there is always this old media, new media dynamic that is quite tricky. in the old media, you want to be in a place that's really old.

doing radio, billboard advertising, or things so far away from new media that there is no competition at all. the parts that are most challenging are the ones that to newatively close media. newspapers and magazines felt similar to what you could read on the internet. and you who was a new media company in the 90's and is more of an old media company. still quite close to new media which is the most challenging place to be. in to ther five years tail fellows program. you're giving the commencement speech at hamilton college this year. what are you going to say to those graduates? how have your views on education involved? peter: i have to be careful what i say.

i never said there is a one-size-fits-all approach. people mischaracterize my view that everyone should drop out of college and start a company. i don't think everybody should be starting companies. lead more people to start good companies. the super track dynamics have gotten us to a educationlace where has become a substitute for thinking about the future. and the k-12 system is geared towards college. i've doesn't and in college. hopefully you work for a long time after that. way.here is a strange we live in a society where there is a lot of anxiety about the future.

and we have education to deal with the anxiety. if you get into the right college, you will be saved. if you don't, you are in trouble. corrupt as the catholic church was 500 years ago. charging people with a system of indulgences. and then you basically tell people that if you get a diploma, you are saved. otherwise you go to hell. you go to yeah lori go to jail. [laughter] on thisto push back idea that the only way you get church 500 years ago or today, the only way is by getting a diploma from college. , there wille future be many kinds of productive things for people to do.

is not to start a new church. it's not to have an alternate one-size-fits-all thing. i think the future system will be much more heterogenous. many more ways for people to be successful. he also spoke about the candidates. he said if he was involved in politics he would and i quote, blow his brains out. alibaba with a deal to buy deal is on a group, the amazon of indonesia. it gives them access to six southeast asian markets. they focus on selling close in electronics. the british supermarket chain and the swedish investment group. the move is seen as part of the

strategy to reduce reliance on the chinese markets. 's big bet network might be antisocial. why we would all be texting robots in the future. russian billionaire, famous physicist, and the founder of facebook team up on a mission to find life in our region of outer space. it is not science fiction, folks. details later this hour. ♪

emily: the chinese internet giant baidu is seeking a $1 billion loan. it was to borrow from a group of lenders. to syndicatetarted a loan of $4 billion last month. both have enjoyed a rush of

interest from the state owned enterprises for fear of default risks. at developer raising about $200 million, valuing the company at more than $3 billion. it makes apps for editing selfies and accounts for millions of monthly active users and is getting into facial recognition technology and smartphones. they are planning an overseas ipo as soon as this year. the company's annual developers conference is underway this week. mark zuckerberg laid out a 10 that included drones, bots, and even a jab at donald trump. mark zuckerberg: we can give more people a voice. instead of building walls, we can help people build bridges. people,ead of dividing we can help bring people together. announcement was

the highly anticipated messenger platform. software that will enable businesses to use artificial intelligence to chat with customers using humanlike responses. cory johnson caught up with the vice president of messaging products for more. >> we have weather forecast bots that are different. >> is it going to rain today? >> if you find the right bought at the right time, you can interact with buttons. if the developer once to make it available, it's a really rich interface. it's an important distinction that most other people have not managed to build. it is a rich experience that comes to life because you can use the ui. you are supplying the tools by which developers will create businesses. services that will run within messenger.

if you look at what we have added in the last 12 months, we can tailor an uber or lyft straight from messenger. the ability to get news and interact with businesses and shops. all of those interactions you over the web or over the phone, it is a much easier and better way. today, on stage, i announced the launch of the personal shopping assistant which is basically a bot that will make recommendations and you can swipe through the recommendations it makes for you. isy: all you're doing

messaging. there is no one else bothering you? >> it is important that it that way but it is convenient you can tap on a bubble and you don't remember your username or password. a user number is usually gibberish. you can go tap on the bubble and be on with your life. as long as we keep a very high signal and high utility and make the lives of 900 million people easier every day, it is all good. cory: what is the ultimate revenue driver. i have not heard the cash register yet. >> today, there is no revenue. we want to build experiences that people love every day and we will build monetization on other platforms. ecosystem,ok at the we have 15 million businesses active.

and on the other side, 900 million people using messenger and they send over one billion messages a month. there is already a lot of great organic interaction happening and making it easier for developers to add value. the head of messenger with our editor at large. we will continue the conversation with the head. down as f8 continues. more on bloomberg west, next. ♪

emily: a story we are watching, doma working with credit squeeze to prepare for an ipo. they said the company would sell shares by the end of 2015 but they put the plans on hold due to u.s. stock volatility.

competes with companies like tableau and good data. to the facebook developers conference, we heard from the head of messaging about their big bet on chatterbox. and ceo mark zuckerberg emphasized other focuses. virtual reality and getting the next billion people online. joining me to discuss is angel investor and ceo of operator, one of the companies working with messenger. and former evernote ceo. i want to start with you and this partnership. how will operator work within facebook? >> we have a live product available in november and we have a simplified version with that experience. we activate an experience that

allows you to do in and to and shopping experience. emily: i need to get valentine's day -- i need a gift for valentine's day. at the menu ofg choices, type in things, and we provide recommendations. you just made one of your first investments. >> i think bots are going to be the next generation of technology that changes the world. just like with apps, a lot of the early use cases are going to seem pretty trivial. that people think they are going to use bots for now probably won't have a big impact. emily: explain the technology. how do you refine the experience ? >> this topic hasn't been brought up.

hear a lot of noise about bots and similar to the first wave of apps. when will we see a messaging first bought. and you start to see interesting innovations and derivative experiences. and we will have to sift through it and find something really powerful. take a listen to what he said about virtual reality today. workingkerberg: we are with different dr platforms. i think virtual reality has the potential to be the most social platform because you feel like you are right there with another person. i recently got to try oculus and it is very early stage. what is the future of virtual reality beyond gaming?

>> over the next couple of years, it will be primarily about entertainment. gaming and videos. but the real high-quality experiences are the ones that are created entirely for vr. the first generations of things that exist outside and inside, they show you the potential but are not really fully fledged. >> facebook announced a lot of brands like cnn and large retailers to educate the market about the potential of this media. it will take six months or longer for a very pure experience where you finally see something that's original. emily: facebook says they are not going to make cameras but they want us to shoot in 360 video. the prices will fall like

everything else. i'm not looking to shoot a lot of 360 video myself. but i'm looking forward to the first experiences. apple fought live photos would be huge but it hasn't taken off. >> take a step back about how they will have their next enormous franchise mvr is going to be where they take a lot of risk. the internet.org situation that mark zuckerberg is continuing to invest. is internet.org paying off? >> i think it will pay off because it is starting the conversation about giving the whole world internet. it is going to succeed in the mission in the sense that almost

will haven the planet that experience soon. it just may not be facebook. should we be worried about facebook owning the internet? think there will be a single company that dominates. former ceo of evernote. coming up, i sit down with the head of square capital talk about risk and wall street. do she think the company should sell? that's next. ♪

mark: i am mark crumpton. let's begin with a check of your bloomberg first word news. investigators visited the months

firm used -- the musick fonseca law firm today. three suspects have been detained in connection with the terror attacks in paris. they allegedly rented an apartment that served as a hideout for the bomber who attack the brussels subway on march 22. china's foreign minister says the nation should stop hyping territorial disputes in asian -- the u.s. and other nations should stop hyping territorial disputes in asian waters. this came after concerns over the south china seas. pat mcgrory has signed an executive order changing parts of the controversial law

maintaining gender specific restrooms and access to government buildings and schools. he says he will file legislation that allows people to sue in state court over discrimination, something that had been eliminated by the law. local news 24 hours a day powered by 2400 journalists in 100 50 news bureaus around the world. from bloomberg headquarters -- 150 news bureaus around the world. from bloomberg headquarters, i'm mark crumpton. paul allen joins us with a look at the markets. paul: we are expecting games on the nikkei today after a much better session on wall street. new zealand has been opened just over 30 minutes and is performing strongly, better than 30%. in commodities overnight, including iron ore. for to skew -- for task you medals will be

particularly in focus. we are expecting to see a used in revenue. 3.2 percent slowing growth globally, but china was a bright spot. we will learn more about that later this morning with march trade figures do. we are expected to see the trade ,alance improved to $35 billion but look at exports. a bloomberg survey expecting to see them rise 10%, reversing 25% declines for the month of february. i am paul allen for bloomberg tv in sydney, australia. emily: with all the buzz around syntax, the conference is underway in san francisco. to thehe chance to speak

woman spearheading square capital. i started by asking how she manages to mitigate risk while scaling up. >> risk is critical. we pay attention to it every day. there are risks we see and manage. first, credit risk. we use machine learning models in order to underwrite our merchants so that we can provide them one, with alone in the first place, and make sure they are in a position -- a loan in the first place and make sure they are in a position where they have the capital. depending on how seasonal their sales are, we are able to offer the right sized loan to a merchant. the overall sales goal for us is to help merchants grow. it is important to us from an overall credit point of view that it is the right loan to the right merchant.

the second risk we see is market risk. that is really on the investor side. obviouslyket site, we are part of wall street. we sell our loans to investors. we take a small portion of those loans on our balance sheet. we are not a balance sheet heavy business. we are very thoughtful about what amount of loans should be sitting on our balance sheet relative to what we sell to investors externally. club shares are down more than 50% over the last year. they say wall street does not understand their business. does wall street understand square's business? >> we are only recently a public company and we just had our first quarterly earnings. i cannot say whether wall street understands us or not. i think the thing we can spend most time on is building a good business and serving our

merchants. a new industry, particularly on the lending side, and there is an appreciation and understanding of models that work and don't work this business. i think there will be a bifurcation as we come through the credit environment of business models that have stood the test of time over the last cycle and are evolving and our strong business models. square capital is a relatively small part of squares overall business. overall business. how big a business does this -- square's overall business. how big a business does this have a potential to be? quick small business lending is hundredial multiple billion job -- >> small business lending is a potential multiple hundred million dollar cash billion dollar industry. the interesting thing to look at

-- potential multiple hundred billion dollar industry. the interesting thing to look at, you ended up seeing after the credit crisis in june, 2011, there was a marked bifurcation of lending between those businesses that did $1 million or more in sales and those that did $1 million or less. think that for those loans to very small businesses, you really haven't seen any growth, and i think that part of the business has been absolutely left out of the market. i do think there is an opportunity to provide responsible credit to small businesses who, frankly, have not been able to participate in the market since 2011. bids: yahoo! is accepting to sell its core business. verizon, potentially some private equity firms, even maybe the daily mail is looking at making bids on yahoo!. what is the best, most likely scenario here. how does this play out? like so, i don't work at yahoo!

anymore, so there is -- at yahoo!on't work anymore, so there is very little i can say about what is happening. i do think there is a core can bes there that fantastic, and it would be wonderful if a telecom provider who would appreciate the assets that sit at yahoo!, the brand, and the iconic nature of the business, who would appreciate that and help foster the business within yahoo! which is really able to grow going forward. emily: melissa meyer has said she could turn the company around if she had more years. do you think it's possible to turn yahoo! around as an independent company? >> there are a lot of really good businesses at yahoo!. i don't work there anymore, but i do think there are a lot of good businesses at yahoo! that are ripe for growth, and you are really seeing the overall growth within the context of yahoo! sales. i hope they have the opportunity

to take the good that's there and separated from some of the declining assets, which are in a structural decline and will, over time, be challenging for anyone to grow. emily: what is it like going from somebody who is running one public company to two public companies, jack dorsey? i think square is very lucky to have jack as our ceo. i think he is a unique visionary. one of the things he is amazing at is making all of us stayed true to what square is. emily: jackie lee speaking with me at the conference in san francisco. sayle who live in ethiopia messaging apps have not worked there for more than a month and smartphone owners have not been able to access services like facebook messenger or twitter on the state owned telecommunications service provider.

one area in the blackout was at the center of fatal protest that started -- protests that started in november. ethiopia denies that it blocked access throughout the region. google is scaling up its tech skills training program to accommodate one million africans in the next year. it's an effort to deal with high unemployment numbers on the continent. train 300 rows -- plans to train one million people on the continent. plus, a single power source that would give the world enough energy to give up call and gas entirely. we are focused on the untapped potential of the ocean, next. ♪

emily: the russians generate enough energy for the world to give up coal and gas can -- the oceans generate enough energy for the world to give up coal and gas completely. the problem is, no one has figured out how to harvest it. we show you what may be the key to unlocking the power of the ocean. of energyunt generated by waves could supply a third of the country's electricity. the problem is, we can't get it. approach totional

producing electricity off the oceans waves has fallen short. maybe it's time for an unconventional approach. here at the university of maine tank of,000 gallon water capable of simulating almost any ocean condition. but what has everyone's attention is the little yellow device in the metal of the pool -- middle of the pool. this is the triton. triton's prototype energy harvester and its facilitators to testing it here in maine see if they can finally make ocean power a consistent form of

energy. this is not what the full-scale triton would look like. >> the full scale device would be about 30 meters in length. known asn is what the a two body wave energy device. we have at the top a surface float that provides the balance, and hanging below that, in our case, is a ring. as the top body moves, the bottom body resists that motion, and that creates energy. if you just look at the quantity of energy, it would give us more than we need is a country, but of course, it is not all economically accessible, and that's the bottom line. >> wave is the wild west of renewables, so one no -- no one design has broken out of the pack.

there are hazards posed by the very source of the energy. the ocean. >> the challenge with wave energy is to be able to build a device that is going to extract energy from ocean waves that is not going to break and that is going to do it affordably compared to other solutions. -- oscilla has zeroed in on what they believe is the problem with almost every design so far, moving parts. this is something generators usually have a lot of. every part that moves is a part that could break down or corrode in the ocean. harvesterator can energy from waves without actually moving anything inside the triton. most electric generators use displacement or rotation to create electricity. is inducedis, power by squeezing metal alloys. maintenanceinimal

after cheap installation, but it is easy tomean design. by 2020, they hope to build and deploy a full-scale triton. if they do, the force of the world's oceans will be added to a growing list of resources that will bring us closer to a truly sustainable future. emily: coming up, facebook's partnership strategy in india. much more as we continue our coverage of the developers conference. and tomorrow, we sit down with facebook's cto. more of bloomberg west next.

emily: suncor, the japanese pinball maker tied to the forensics company that reportedly helped unlock the san

bernardino iphone says it plans to stay on the front lines of national security. to expand the work in the space and could be willing to spend as much as $185 million to acquire or merge with related companies. >> we are open to the idea of teaming up with companies that possess unique technology in forensics. we will continue to search for an appropriate partner. emily: yamaguchi also told so brighthe thinks could grow as much as 20% couldly -- cell bright grow as much as to when he percent annually in revenue. we caught up with the man across with developers the globe to pull of the ecosystem facebook will need.

there are 2.5 more users in asia than in the u.s. what kind ofasked partnership facebook is pursuing in india. these placesne of where the majority of facebook developers outside the united states come from outside india. you see people trying to get access to jobs to doing payment infrastructure. surely, it's mostly mobile. >> it doesn't even reside within the facebook app. a lot of the reasons we built platforms was to extend tools, apis and systems to their websites. >> heavily mobile focused. >> yes, when you look at the users across our ecosystem, the majority are using on mobile these days, and increasingly so as time goes on. in india, a billion people have yet to become connected. as they come online, the

majority will experience that on a mobile device, not on the desktop. you just called both of us old. >> older than some of the folks thisay be getting into now. >> part of this is like selling of hay, we met a year ago, we couldn't do anything, but now we have a new thing for you to check out. is that how it works? >> in this case, you probably did hear a lot about messenger and the messenger platform. 900 million people around the world use the messenger platform. we are really excited about the framework. cnn and traditional media companies are figuring out how they can push content to people instantaneously. we have companies like spring that ava talked about earlier saying the same -- that david talked about earlier saying the same thing.

probably open your messenger app a couple dozen times a day if you sit down and think about it. if you can do things you're naturally doing off-line there, it makes sense for it to be that simple. we want to make sure we can get developers and businesses the opportunity to meet you in the media you are using right now. speaking to cory johnson at the f8 developers conference. president vladimir putin on tuesday highlighted the ability of russia and the u.s. to cooperate closely in space. despite all the difficulties the two countries face on earth. putin spoke by video link with the american and russian astronauts aboard the international space station. tuesday is cosmonauts day, a russian holiday marking the date a russian became the first man in 1961. speaking of space, who is having the best day ever?

perhaps a russian billionaire investor. he has enlisted stephen hawking and mark zuckerberg in his quest to find life in outer space. he will send a swarm of tiny the star system that is the next-door neighbor to earth's solar system. the goal is to find a faraway planet capable of sustaining life. eric shatzer caught up with him today about the project. >> we will know much more about the planets and the nearby systems before we launch. i don't think we are going to fly blind. , we mighte time discover something unexpected. if there is an intelligent civilization in the near -- it there is an intelligent civilization in the

near vicinity of the sun, but it is likely there is a planet in the zone and it would be amazing to fly by and send back images. >> those are some expensive pictures. >> expensive but also exciting. i think someone might pay a lot for one picture. worksn if the technology as envisioned, it is going to take a generation before this project even gets off the ground. it's going to take 20 years for these miniature spacecraft to get to alpha centauri, and years more before the images are beamed back to earth. >> for years. >> will you be here to see it? >> i don't know. some of the other developments in the area of life sciences might make it easier to see that happening. but i think the most important thing is that we push this thing

forward, and maybe we can pass the baton to the next generation so they can realize the results of it. i think we don't remember it is much, but the cathedrals were built by many generations, and i is the kind of project that will take a lot of effort. we've had a lot of technical challenges but the are not insurmountable. >> this is a philanthropic effort, but richard branson and jeff bezos want to take tourists into space. elon musk wants to colonize mars. is it right in your mind that aace is kind of becoming playground for billionaires? >> i honestly believe it's not going to matter.

nobody remembers right now who .unded columbus's exhibition was it government funding? was it a combination of private donors? was it a public funding of sorts at the time? .hat we remember is the result so, i think all those details and nuances on who is funding what at this point will not matter in the next few hundred or thousand years. russian billionaire yuri milner there. tomorrow, we are joined by keith the geoeye. that is all today from san francisco. rabois.h that is all today from san francisco. ♪

our studios in new york city, this is charlie rose. charlie: the second liberian civil war which claimed hundreds of thousands of lives. it clips focuses on the lives of five liberian women living through that -- eclipse focuses on the lives of five liberian women living through that struggle. made broadway history earlier this year, becoming the first production