>> let's start with a check if your bloomberg first word news. in italian appeals court has upheld the conviction and prison sentence of the italian captain of the costa concordia crews ship. that capsized in 2012 killing 32 people. the captain has one final appeal to italy's highest court. alberta's prime minister says the return of 80,000 residents to fort mcmurray will continue tomorrow as planned. about 2400 structures were planned. schools will not reopen until september. democrats investigating the benghazi terror attack want to review the report before its release.

five democrats on the committee sent a letter to the chairman requesting a joint report. republicans and democrats have in at odds since the inception of the two-year-old probe. four americans were killed in the attack. california governor jerry brown is backing hillary clinton for president. the endorsement comes at a critical time. four-ball stomach that the candidates, california holds its primary next tuesday. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. from the bloomberg newsroom, "bloomberg west" is next. ♪

emily: i'm emily chang and this is "bloomberg west." elon musk takes shareholders down memory lane at the annual meeting. we will bring you the details. uber gets a million dollar credit line from wall street. it may help the company grow but how do drivers deal? -- feel about it? the white house looks to sponsor entrepreneurship in africa. we will speak to the assistant secretary of african affairs for more details. the tesla shareholder meeting is underway in mountain view california. elon musk treating investors to something different -- a look back at the history of the company, it's beginning, it's motivation and the story of what has happened over the years. >> we always try to do the right thing. we care about that. when we make mistakes, it's because we are being foolish or stupid or whatever.

it is always made with the right motivations. emily: this walk through tesla's origin story comes a time when the company is trying to meet an ambitious production schedule for its model three. many analysts have said getting it right is likely to make or break tesla. we are joined by someone who was with tesla from the very beginning. tesla co-founder ian wright. he's now developing electric powered trains for larger vehicles. my guest host for the hour is david kirkpatrick. thank you for joining us. kevin, i want to start with you since you have been following the shareholder meeting, what do you make of the latest developments and the fact that he's not sharing his vision of the future but instead looking back at the past? kevin: by the time i had gotten to come here, he had only gotten to the point where they were developing the roadster.+++

things will be in the q&a which at the pace he was going will probably be sometime around 7:00 pacific standard time. emily: the q&a time is always very entertaining for tesla shareholders meetings. what do you make of the fact that he is focusing on a time when you are still at this company and everyone wants to know how production is going for the model three. ian: it is a very interesting history and if you go all the way back to that, one of the goals was to change the way people look at electric cars. at the time, people that they were golf carts. they were heavy, ugly and slow. now everyone wants a tesla. the company exceeded beyond everyone's wildest dreams. emily: now they are working on premium, fully electric vehicles. tesla has never had competition in that market.

do you think they can they stand up to it? guest: i think the tesla brand is incredibly strong now. emily: david, you are one of those who put a thousand dollars down hoping they can meet the production schedule. you are optimistic, what do you make of the skepticism? david: the money is refundable, so i'm optimistic but pragmatic. i'm just curious to ask ian a question, when this company got started that you are so intimately involved in, was the idea that electric vehicles would sell so well that it would begin to be self funding more is this the kind of tesla we have seen emerge which is funded by continuing to sell more shares and operating at a loss for a long time what was anticipated all along? i an: i guess it's fair to say

we were quite naive about what it takes to start and run a car company. emily: how so? ian: the original business thought it would raise 25000 and -- $25 million and get the cash flow to break even. [laughter] emily: you don't have any tesla shares anymore. ian: no, i don't. emily: as part of the reason you left as you could not die into the decision that buying electric cars could be economic and fully mainstream? ian: yes. they are wonderful things. they are fantastically fun to drive. their lovely cars. everyone i know loves it. but they are not cheap. nobody buys electric car to save money. that is right we do the heavy duty vehicles where he can displace enough fuel to make it worthwhile. garbage trucks burn 14,000 gallons a year. city cars burn 200. the economics are compelling for garbage trucks. emily: you are focused on bigger vehicles like garbage trucks, so

why is that> ian: the economics are compelling. even though we sell a power train for a garbage truck for a lot of money, they save enough fuel and maintenance unless it -- to get it back in less than three or four years. it's a compelling economic opposition. therefore it will be widely deployed and make a huge difference in cities where all this fuel consumption happens. emily: what do you make of the thought here that what tesla is trying to do -- is it impossible? kevin: certainly not impossible but the company is being valued as a disruptor and you are talking about in 2015, 50,000 units globally out of 100 million. it's one thing to be a niche automaker with $100,000 but it's another to become a volume automaker. the amount of that would the

cap spending that would be required to go from 50,000 for a million is going to be a lot and is going to mean losses and cash burn for a long time. emily: you were nodding your head, if what tesla is attempting to do is not necessarily impossible but maybe improbable or just extremely difficult, where does that leave tesla in the future? ian: i would argue that it's never smart to bet against elon. emily: okay, it's not something we haven't discussed at length, but quality problems with the cars. one of our analysts believes are undercovered. ian: i know a lot of people with tesla's and they are all 100% happy with them. i don't have any first-hand reports of any troubles so far. emily: where do you see tesla in five years?

ian: i don't know, it's really hard to say. emily: but you are not betting against elon? [laughter] ian: no, i'm not. emily: the tesla cofounder -- thank you so much. thank you so much for sharing your story with us. david kirkpatrick is my cohost for the hour. you are sticking with me. now to a story we watching -- softbank says it will sell $7.9 billion of its share in alibaba to pay off its debt load. it's the first time they sold any shares in the chinese e-commerce. in a statement, they sell about $2 billion in shares back to alibaba, $400 million to those in the partnership. another half $1 billion would be sold to a major sovereign wealth fund. however, the sale of softbank daschle also sell $5 million to institutional investors, but even after the sale of softbank will remain one of alibaba pass biggest shareholders. those shares are lower in after-hours trading.

another story -- apple shares slid after the nikkei reported the company may extend its iphone upgrade schedule to every three years. currently, apple releases a major upgrade every year with a of trade in between. the iphone seven, due to release in september is set to look to similar to the current iphone within next major upgrade not coming until we see the iphone eight. suppliers, and ams both elements report as well. coming up, uber making big moves to bring more drivers on board. is the car leasing broken the right answer? ♪

emily: one stock we are watching is a berlin-based e-commerce site rocket internet. it slid 9% in frankfurt on tuesday. the latest earnings report showed tepid growth was some of its european holdings. losses and other food ordering site widen for the quarter. rocket is often seen as a key barometer for german startups and is under pressure to prove backing companies are capable of longevity. they reiterated guidance at three of the companies will be profitable by the end of next year. now to uber -- wall street

extending a billion dollars in credit to uber's leasing business. and uber subsidiary called exchange will use the funds to lease cars to drivers rejected by other lenders. the goal is to put 100,000 drivers on the road, but is it safe? we have a big in-depth piece -- on this leasing subsidiary of u ber. my cohost, david kirkpatrick is still with us. guest: they have been building out this program in the united states and the in-house program has been incorporated. they also have some rental partnerships with enterprise. they have been trying different strategies but this is clearly a different sign. they're going full force into the leasing market. emily: you interviewed half a dozen drivers who participated in this program. many of whom were not happy with the results of the program. we should say that uber says they are not profiting from this program in any way. talk to us about what drivers told you.

guest: there are two camps. a couple of drivers we talked to, they have terrible credit -- one woman i spoke with had medical problems that caused her to get into debt. that meant that it was hard for her to get a car. uber and exchange was a pass -- that was a path to make money. it was an alternative, but she was paying huge sums to keep the car going. more than the total value of the card she pays out. emily: $12,000 more than the total of the car. guest: they are very expensive. if you are poor in this country and you want to get a lease, it is very expensive. i think that is true with the exchange program. emily: you talk to another driver who got into an accident and would not have been able to get a lease any other way. he had bad credit. ultimately, they slashed rates and he could not keep up the payments, so he just left the car outside with a note

to uber saying thanks, no thanks. and someone came to pick it up a few months later. guest: uber has gotten itself into the repo business. people have to go get cars, their gps tracker so they can go find them. there's definitely some serious turnover. rates inuber slashed january and he felt like he couldn't make the money, so he quit. his car was parked out there with a note tacked on it. he finally gave up, then someday in the middle of the night, someone came and took it away. emily: we got a statement from the person running this, the head of the exchange leasing program. they issued a statement saying the popularity of uber auto leases is incredible and it provides access to high-quality cars with no restrictions on miles and the ability to rake the lease early with minimal fees.

what is your reaction to the details that have been uncovered with this program as a passenger? guest: i think he did a great job with the story. i learned an awful lot, and it is breaking new ground of the company that plays hardball at every turn. it is breaking great new ground. the company plays hardball at every turn. we love getting low prices all over the world but it raises the prospect that the driver is going to be someone who doesn't even have good enough credit to buy their own cars or lease it through conventional means. it sounds like it allows almost anyone to walk in off the street and think they are going to get a job because they will get a car and the requirement to use it to pay back the lease in hopes of making a little more money. but i have had mixed experiences with uber drivers as i'm sure many people have. and it does not reassure me about my customer experience. emily: uber says they need to get more drivers on the road and who's to say any of these people

shouldn't the driving, but that's a fair point. as some of you has had mixed -- someone who has had mixed experiences with uber drivers, you are getting into a car with these people. guest: uber has a huge appetite to grow the number of drivers anyway they can. there are reasonable questions. we did not get into it in this story but people with poor credit ratings may be more likely to be bad drivers and some of that is because of how you get a bad credit rating. there are logical loops that you get into. there are certainly questions to ask there if uber is encouraging people with poor credit to get on the road. what does that say about their driving quality? i did not get into it with this story but that is part of it. emily: do we know how big the program is at this point? guest: they have discounts and other finance programs, it is through their cumulative finance

effort that i found out about the billion dollar debt facility late in the game, so i'm curious to see how that changes their expectations. emily: how subprime is this? guest: no prime is one phrase you might use. [laughter] guest: they have subprime drivers and these are technical credit rating bands and for uber, it's not a matter of whether you default on a car , but they know they are going to pull money right out of your income. if you are driving for uber, they are going to take the money right out of your paycheck. emily: what do you think about the idea of more wall street institutions being exposed to not just subprime, but no prime. david: is has echoes of another

recent period. i want to ask, he's speaking to drivers recommended to him by uber -- did you say i've got a job and i'm paying off my lease and making tons of money? guest: one of the lead drivers we talked to was from uber. other ones we found on our own. certainly the driver uber recommended was still working for uber. she was happy with the program and if you look at the number, i don't think you would walk away thinking she was making money. she picked the job over papa john's, so she's making trade-offs but i don't think you would look at it and think she's making a ton of money. that: that woman i believe a two hour bus ride to work to this was much -- guest: and uber helped her make -- helped her get a car. people say this is america and uber is trying to help people get one. emily: thank you so much. great reporting from you. david kirkpatrick is staying

with me. coming up, oracle is back in court, but this time playing defense. we will head to washington dc for details on the company's big legal battle just days after losing a $9 billion case to google. ♪

emily: turning to the next leg -- a big legal drama -- a week after losing a copyright case to google, oracle is back in court . this time defending claims that it drove the collapse of hp ap chip. it is a 3 billion dollars claim dating back to the 90's that's likely to drop some of the bad blood that has developed between these two tech giants. stimulus are our guest host joining us from washington for some background is our litigation analyst, matt larson. obviously, one of the first point to mention is mark hurd ended up going to work for oracle where he is now co-ceo.

matt, what can we expect from this trial? matt: hp is going to be making the case that when it was going to withdraw software support that it caused the business to crater and caused losses. nobody's going to want it because of the status of the software. oracle will respond that there are other market indicators and indicators from chip manufacturers that this was not a profitable endeavor and that they were withdrawing support -- completely reasonable in withdrawing support and had no legal obligation to continue support. you will see those play out over the course of the next several weeks in trial. emily: you covered the chip years ago, what do you think? what do you make of this long simmering feud? david: i covered a lot of chaos

at hp, some of which mark hurd was very involved with before he jumped to oracle. i wonder if it extends to some leverage hp had because of the experience that oracle? did they get oracle to agree some things that may be you are -- in that settlement, now maybe they're going to come back to bite them here? matt?: matt: i think they are going to dredge up some of that bad blood. you are going to see some of the old discussions. there was a truce and oracle was presenting this as it's not a binding contract and we agreed to continue as business partners. some of that may not at than platitudes. it's not a specific, binding legal document. in the way that you think of a contract. when they resolved some of the trade secret litigation going on, the idea was we continue working together but it doesn't mean we are going to continue pouring money and effort into an unprofitable business. i think you will see a little of

this back and forth. on oracle, we did not agree to help you with an unprofitable project. emily: matt, oracle is entering this fresh off of losing a $9 billion case to google, what is next there? matt: on the google side, they are going to continue to fight the loss. they were seeking $9 billion in the slice of the android pie. that's going to continue with posttrial challenges and appeals . and i don't think they are going to give up just because the jury did not find in their favor. they have a lot of things going on in different venues so it will be a profitable time for their lawyers. emily: thank you for the update. david kirkpatrick, you are sticking with me. coming up, a u.s. ambassador with extensive experience in africa joins us to discuss the

biggest areas of potential tech disruption. ambassador linda thomas greenfield is next. ♪ okay, ready?

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top stories this hour, adding to evident as gradual economic destabilization. factory pmi was 50.1, a welcome sign of resilience for policymakers. tysons measure fell to 39.2 below estimates, official nonmanufacturing pmi was 53.1 down slightly from april. the aussie dollar spiked after data showed further economic expansion in the first quarter full to gdp increased 1.1%. that according to government data. our policymakers meet next

tuesday after their surprise division. traders are split 50-50. softbank has gained on news that it is selling its stake in alibaba. largestremain the shareholder a 28% even after offloading that with shares. selling some of that back to the company, and the rest of the members in the partnership. the headlines from bloomberg news powered by over 2400 journalists in more than 150 news bureaus around the world. let's get to the latest on the markets right now for that we go to david. we are approaching the lunch break here in hong kong. he forgets the bigger picture, i want to focus on one story, the -- these wind for moderators listed here in hong kong off of the mainland exchanges. this comes down to the new

policy, or these new marching orders coming from the government on a minimum level of usage across nine key provinces. the technical industry term is minimum utilization rates. analysts are basically waiting on the impact, the potential impact for these companies that also run through some of those at the bottom. essentially saying that for every extra 1% increment, he have keep profits around 3%. if you do the math, it is very good potentially for the industry. that is why we could be seeing this. a lot of data through i want to focus on the currency. that is the offshore, it broke past the key resistance level. now, againstlose the u.s. dollar, equity is doing this, fairly mixed. keepe basically flat, but in mind asian stocks are coming

off of five successive days of fairly decent to gains. wednesday is looking like this, let to what happens in the afternoon session. if more data coming through at the moment. emily: some of the biggest names in tech will descend on silicon valley next month for the global entrepreneurship summit. president obama is hosting the event at stanford aimed at fostering exchange across borders. last year's summit was held in kenya, putting a spotlight on tech innovations across africa. african-based startups are expected to hit a for more, we billion dollars. are joined by linda thomas greenfield joining me in the studio. david kirkpatrick is still with us in new york. thank you so much for joining us. it is fascinating.

i had not heard the term silicon savanna until today that apparently people are using these terms. linda: people are using in after the kenya tech summit? emily: how would you describe the tech scene in africa right now? you say they skipped a lot of steps to get to where they are today. linda: i would describe technology in africa as thriving. there is a huge interest in improving access to technology. one of the areas where africans really get technology is in -- skipped over technology is in telephone technology where they never had land lines in an expansive way on the continent, but the use of cell phones became immediately popular. africa really took the lead in banking via telephone and communication in a way that did not happen in the united states for a number of reasons. one being we already had other technologies.

emily: so people have a cell phone and they are connected? linda: you could go into the deepest village in the middle of nowhere on a dirt road and you will see a village woman with a working cell phone. emily: what is it about now that makes africa right for tech disruption? linda: africa in 2014 has six of the 10 fastest growing economies. there are opportunities on the continent of africa that were not recognized in previous years . companies are beginning to see the possibilities of the opportunities and the resources that are available in africa that they can invest in and they know these opportunities can be very profitable.

emily: david, we talk a lot about tech in china, europe and india, but we almost never talk about technology in africa. as someone of us cover technology for such a long time, why do you think it has been so absent from the narrative? david: i don't think we talk about africa enough in general, in the united states. but that has been changing in the last couple of years. what is interesting to me, the -- there is such enthusiasm among young people in cities all over the world but especially big cities in africa like cairo or lagos, nigeria or johannesburg or nairobi. what is interesting to me is -- and i'm curious to hear the secretary talk about this -- cairo and lagos were becoming big tech hubs but egypt has a despotic government. things are different there. meanwhile, nigeria is in a real economic decline. is a problem that that's going to slow down

opportunities for these people who are already starting to get back into the as him? linda: africa is suffering from the same economic downturns we are seeing occur elsewhere in the world. but there's an enthusiasm among african youth from african countries to really connect to technology. i see this as an opportunity and most african leaders see it as an opportunity and that's one of the reasons the global entrepreneurship summit was hosted in kenya last year. we have 100 plus african countries that will be participating here in silicon valley in june. emily: what other kinds of startups do you see taking off in africa? linda: mobile banking is the biggest. we see market women using technology to get their products to market.

we see huge banking operations that use technology beyond cell phone technology. we see african entrepreneurs who are tech savvy, who are coming up with new ideas that they want to bring into the technology scene who are looking for opportunities. emily: the chinese governors and -- chinese government and chinese investors have an -- been interested in investing for a long time to much greater extent than the united states. how does that play out for silicon valley and u.s. venture capitalists? linda: i think there are opportunities for all. amazing opportunities for american companies. american companies are desired on the continent of africa. our challenge is to have more companies look at the opportunities that are available and take a chance and invest.

emily: linda thomas greenfield, fast waiting to hear about what -- fascinating to hear about what is going on on the african continent. i appreciate you stopping by and joining us. david, you're sticking with me. coming up, improving silicon valley's diversity problem starting in the boardroom. a new study on what entrepreneurs are looking for from their directors. ♪

emily: u.s. internet giants, facebook, twitter, and google have issued a joint code of

conduct with the european union for fighting social media used by terrorist. the company has said it would review content and cut it off if necessary. the move clarifies how the companies will abide by existing rules to tackle extremism and hate speech after attacks in brussels and paris. under the rules, executives at the company companies could face one year of jail time if they do not comply. twitter's had a public policy says they remain committed to letting the tweets flow. however, there's a clear distinction between freedom of expression and conduct that incites violence and hate. speaking of twitter, periscope has come up with a new tool to fight abuse in its broadcasts. the reporting tool will let users report comments they find inappropriate and a small group of viewers will report on whether it is abusive. i asked the ceo to describe plans to address online abuse. >> a culmination of algorithms and getting the community to

do real-time moderation can both really effective and what i love is you can be transparent with people around this person was marked as being abusive and they will not be able to comment any more. guess what, the tribe has spoken. emily: that was the ceo of periscope. it's no secret silicon valley is struggling with diversity and a lot of people are working hard to change it. one venture trying to facilitate that is focusing on company boards. the board list wants to be the linkedin a female director candidates. and according to a survey commissioned by the board, 40% of ceos have an under tilde -- unfilled independent board seat. what are the biggest challenges to increase diversity? here to discuss that is david -- and david kirkpatrick was still with us from new york. practice a much for joining us. this has been a labor of love for you and you have been going together interesting that the -- statistics one that i would

, like to point out -- 74% of people believe gender diversity makes a board better. these are ceos. only 38% believe it is very important. and 38% believe it is not important to add gender diversity to the board. how do you attribute? >> you look at that data, and say it is the barbell. there they can actually improves efficacy. when we ask ceos what is important, 68% said adding expertise. when you parse this, what they are trying to tell us is we want to add diversity, but it is about experience. gender is a component of trying to fill the experience cap in the boardroom. -- gap in the boardroom. emily: how has it been getting ceos to adopt? has it been more

difficult? guest: to be honest, i'm probably seeing more momentum in the last 60-90 days. it is about 90 days old. we've had about 107 searches inside the board list. emily: three people chosen -- guest: we see a lot more placement of board list candidates can happen outside of that. i claim that as victory. it is about whether there is momentum behind us. to give you some stats in the , last 60 days, we've seen nine female board placements from twitter to shutter stock to uber to constant contact. if you look at the list, i would say the momentum is increasing and we are seeing that reflected in our own numbers. david: i'm really impressed with what you are doing.

it is needed. there's all kinds of data that shows diversity, including gender diversity is effective in all groups. i'm sure you're deeply familiar with at work. do you think ceos realize -- you have said they are looking for all kinds of diversity but clearly, women are a fundamentally different kind of person than men. and they really do bring fundamentally different points of view and different ways of working. what is your assessment of the progress of changing the mindset of these leaders that this is a necessary step in the direction of more effectiveness? guest: i think you are asking a great question about the funnel. from thinking about adding a woman to what is the progress all the way down that path? what we see reflected in our own conversations, we do a number of board list events with ceos and founders. what we see is there's no debate

about the quality of adding gender to the boardroom. we see more misconceptions about how easy it is to find talent. in the survey that we ran, only 50% -- 80% of the time they felt their was enough male talent. only 50% of the time did they find enough female talent. when the talk but how they recruited, they talk about 59% recruited through their own investor network. pentagon of formal process. what we see is they don't debate a philosophy. what a debate is whether there are enough qualified women and what networks they use to find them. david: the existence of ward -- board list just take away their excuse. guest: we hope never again will there be the excuse that we just cannot find it will fight woman. -- find a qualified woman. emily: doing and acting on it is a completely different thing. guest: one of the things we have to recognize with tech startups

is something does not become a priority until the ceo decides it is a priority. there are many competing and they don't get to the board until they decide it is a priority. unlike governance, if a seat is empty, you need to fill it. the reality and startup boards is it is one of many things on the ceo's mind. what we are battling for is mind shares. emily: they just added three new board members and it is a company obvious we in crisis for top these are three very accomplished people. why would they join a board like that? guest: some people love a challenge in some love the complexity. it's one of the reasons to join the board of a turnaround or crisis situation. some are attracted to the complexity and the diversity and the size of challenge.

quite frankly, what we always a to first time board members as you have to think about the time commitment. when you look at who's equipped to take on the challenge, you have to look if it is right. emily: 40% of companies have a board seat that is unfilled? guest: you are going to turn your attention to the order room -- board room when you have the bandwidth among dozens of other things going on. the earlier stage of the company, the more it is competing with other priorities. as the company matures, the board becomes an issue that the ceo takes more time for. it is unfortunate because most series a and b boards need that advice in the formation years of their company. it is an unfortunate gap that we see. emily: as always, great to have you on the show and great to hear the progress you are making. thank you so much for stopping by.

emily: david, you will be back with me after this break. coming up, we will head to tokyo for more context behind softbank half sale of its stake in alibaba. ♪

emily: alibaba is investing between $5 million and $10 billion into a search technology with machine learning and natural language processing to anticipate what shoppers are after. they could help them improve as the e-commerce giant expands in china and abroad. refining search technology has proven pivotal to sites like amazon. softbank is selling at least $7.9 billion of its shares in alibaba. the sale will strengthen their balance sheet as it reduces the stake from 32% to 28%.

for more, we are joined by reed stevenson from tokyo. our guest host david kirkpatrick is still with us. what is your reaction to the sale? i know most of a was anticipated but what can you tell us? reed: one thing to remember is back in february, softbank gave us a signal that this might happen. they announced a $5 billion in shares buyback to purchase up to 14% percent of their own shares. that gave the socket nice boost and the question was how are they going to pay for it. i think we have part of the answer today. emily: does it signify any change in the relationship between softbank and alibaba? reed: the stake takes the ownership to 28% from 32%, so there's not a huge change their. -- there.

the two ceos sit on each other's boards. i don't think it's going to change. they like each other. the companies are complementary. i don't think you should read too much into this apart from softbank needing to shore up its financials little bit. david: emily, here's a company that paid $20 million for their shares of alibaba 14 years ago. meanwhile, they spent $22 billion to buy sprint not too long ago, so they have been moving money around for top if -- and if you have a $30 billion again on a $20 billion -- $20 million investment it , would probably be appealing. sois companies always been intimate with each other. they're kind of like a blood brothers. wouldn't you say that there's something almost overlapping in these companies at this point?

reed: their businesses are not exactly different. complementary is how i look at it. one is strength in e-commerce, the other is a mobile operator and owns a bunch of web related properties, but you are right. they are are good buddies in asia. they have similar interests. their strategic goals aren't in conflict. i think the relationship will continue and softbank is using an opportunity to cash out to help fund its buyback and we will have to see how it develops from here. emily: i remember speaking to jack ma on the floor of the new york stock exchange -- do you think this signifies any change in confidence in alibaba? david: not at all. i think it is a little bit taking cash off the table.

this is a much confidence. they are so amazed at the success of alibaba, they thank jack ma every day. [laughter] emily: david kirkpatrick, our bloomberg contributing editor, thank you for joining us. reed stevenson, thank you for stopping by today from tokyo. now it's time to find out who is having the best day ever. today's winner is a airbnb neighbors. it is been a convenience for travelers, but could be a nuisance for those living next door but the company announced a new feature that could get rid of disrupt the guest. it allows those living nearby to report disturbances and issues with a common space like parking or criminal activity. anyone who notches up several complaints could be suspended from airbnb. that does it for this edition of the bloomberg west. tomorrow, do not miss the facebook mobile marketing executive on go. that's 7:30 eastern time from

new york. that's all today from san francisco. ♪ >> open for business.

iran calls for better relations with potential partners and says the u.s. must offer reassurance. run of declines since april. opec will discuss production on thursday. saudi arabia must sell as much as $15 billion of debt this year. it joins the rush into bonds.