>> president obama endorsed hillary clinton. making the announcement on a video that appeared on her twitter account. president obama: i am with her. i am fired up. i cannot wait to get out and campaign for hillary. mark: they will campaign together next week in green bay, wisconsin. this endorsement followed the presidents meeting with bernie sanders. donald trump responded to the endorsement saying -- obama just endorsed crooked hillary.

he wants four more years of obama and no one else does. the associated press sites two officials saying that political opponents are speaking out against brexit. john major and tony blair warned leaving the european union could jeopardize the unity of the u.k. and threaten peace in northern ireland. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. "bloomberg west" is next. ♪ emily: i am emily chang and this

is "bloomberg west." the rise of the machine. a robot revolution is headed towards us and tech will replace 80% of what doctors do. we will have a series on man versus machine. uber switches gears after announcing it had no plans in the pipeline to offer scheduled rides. they can now book 30 days in advance. larry page prepares for takeoff. the lid is off the googles cofounder's pet project. we have the details of his flying car. to our lead. technology will replace up to 80% of physicians, what physicians do in the near future. this is according to billionaire investor vinod khosta. and cofounder of sun microsystems. i sat down with him at the future mobile conference earlier today for an exclusive interview and asked him to explain that

prediction. vinod: i wrote in 2014 a blog. it basically said -- more than 50% of all jobs that exist today will be dislocated in 40 years, roughly. 40% of 80% of the jobs, i do not know. but reading the past could not replace human judgment and now, we will. the progress is a stunning example of what people would say machines can do. and alpha go did. that is how it was described in a post i wrote about. it could not be done computationally and with brute force power. that was different. that is what is different about the new ai.

it makes much better and more reliable predictions. it will be really good for society. it will mean great gdp growth, great wealth creation. we will have income disparity and we will have to address that. emily: if 50% of jobs are replaced with technology, will the same amount of jobs be created? vinod: i think it is somewhat unlikely. emily: more jobs will be destroyed then created. vinod: for the first time, we may have technologies that just replace more jobs than create. economists are not qualified to judge what ai technology can do just like a doctor commenting on my comment is not qualified to say what a software system 20 years from now can do. they are completely clueless. in fact, the go champion was clueless about what alpha go could do a week before the go match.

and so, experts are the wrong people to ask when the changes are coming from outside the system. generally. i think that there is a significant probability that jobs will be disrupted and disruption is good for somebody and really bad for other people. especially for the people being disrupted. i think we will have to say, capitalism will have to do more than optimize for efficiency. it will have to optimize for efficiency and fairness at the same time. emily: you talk about the importance of founder led companies and the power they have. if you think about the big technology companies, and the most powerful companies of today, google, apple, facebook, and amazon. one of those companies is no longer led by a founder. how much innovation is left at apple?

vinod: big companies without founders have a very hard time. they do the sensible things. sensible and innovation do not go together. if you are reasonable and a good manager and a good process person that can deliver things on time and on schedule, you are the kind of person that is essential to delivering goods, but disruptive to real innovation. you kill it. founder led companies, larry page is an example, keep innovating. he does some crazy things. introducing hardware? walmart is not going to do its own kindle or its own amazon echo. what jeff is trying is all kinds of things. i think founders have

personality traits that are unreasonable and maladjusted and that leads to innovation. non-founder led companies have a much harder time. it is too early to say what apple can do. i hope i am wrong. but clearly, the big companies generally, especially outside of tech, have a hard time innovating. emily: jeff bezos made a big investment in india, $3 billion. can india charge forward in the technological revolution? or will there be insurmountable hurdles that will continue to hold the country back? vinod: i think jeff is a very smart guy. i would not bet against him. he studies the problem quantitatively, every single time. he is not an emotional person. he is very quantitative in how he looks at things. even when he started selling books, he made an analysis of 50 different categories.

i remember him talking about this in 1996 on why books would be the first and best starting point. when jeff says he is going to invest in india, and he has spent more time on e-commerce in india, i completely believe he is doing a smart thing. i do not think it is without risk. but it is risk adjusted. it is probably a very smart cision that he is making. i think if you're talking 10 years, india will be a great market. emily: there is a lot of talk about the environment bubble evaluations. what would you write about that? vinod: my beef with that is that it was written in response to all of the press about private valuations and markdowns. it is silly to write an article

about a company like uber or dropbox or airbnb that someone at fidelity marks down. the recent case where they marked it down on a monthly basis and then marked it up again. if these companies were public, their stock prices would go up and down every single day. if they go up and down in the private market, why are they news? the press needs headlines to write about and they do. that to me, is a silly issue. smart founders, on the other hand, should care about valuations. they get a great valuation, they should take it. have enough money. when valuations come down, they should resume. when money is freely available, a smart founder uses it to reduce the marketing risk or a

product risk or some other risks. emily: you have been publicly supportive of peter thiel. you tweeted about this a number of times. one of those tweets -- journalists need to be taught lessons. where do you draw the line when it comes to freedom of the press and the criticism? vinod: the definition of what the press is, is very ambiguous now. is a bloomberg journalist the same as a hustler magazine journalist? iis a blog poster a journalist? to me, there are two things that matter. anything that goes without checks and balances will go off

kilter. if there are no checks and balances, there are people like gawker, and buzzfeed -- they resort to a style of journalism that makes the new york times a chaser and reduce its standards of journalism. clearly, the media has been under stress. but what i have seen is the fact checking out of the new york times has gone way down since -- compared to 10 years ago. i don't blame them. they are chasing the instant news idea. what bothers me is when the new york times starts chasing what denton calls scraps. and lowers their standards. checks and balances on people are really important and the press plays an important role. if you ruin the quality of the

press, that is a real problem. freedom of the press is important but the quality of the press is important. i also think the diversity of the press is important. i care about what walker has done to the new york times. i would like to say that the new york times has gone from all of the news fit to print to all of the news that we want to print that we can get out immediately. that is a problem. emily: the venture capital industry has been under pressure for not hiring enough women and minorities. i'm wondering what your position is on this? how important is that to you and how hard are you looking to change that? vinod: here is what i would say. i have three daughters so i care a lot about diversity. i think it is happening slowly, a little too slowly and it needs to happen more fast. i think the way to solve the problem is get more women into

tech and engineering kinds of positions at the ground level so that 10 years later they can be a bigger part of the start up and the venture work. emily: my conversation there with vinod khosta. -- khosla. tom perkins died tuesday according to his longtime assistant. perkins cofounded the venture capital firm that bears his name. and popularized the model of giving a small amount of money to startups and helping them grow. the firm went on to fund google, amazon, and genetics. he retired in the early 1990's but he will be remembered for controversial views that he has shared since. two years ago, he wrote an op-ed in the wall street journal. kleiner perkins released a statement at the time saying they were shocked by his comments and did not agree. the next day, he came onto this program to apologize.

he offered his own theory on how to combat income inequality. tom perkins: the solution is less interference. lower taxes. let the rich do what the rich do which is get richer and along the way, they bring everyone else with them when the system is working. emily: you are a multimillionaire. tom perkins: i am not a billionaire. i have created some billionaires and i am not one. emily: you have owned fancy yachts and cars and underwater submersibles. tom perkins: an underwater airplane. emily: are you divorced from reality? tom perkins: i don't know if anyone can answer that, truthfully.

i don't think so. emily: the other cofounders just released this statement on his passing -- tom was a pioneer in the venture capital industry. he defined entrepreneurial venture capital. going beyond just funding to helping entrepreneurs realize their vision with operating expertise. he was there at the start of the biotech industry. he was our partner and friend and we will miss him. ♪

emily: uber is feeling the sting of a french criminal court. the service and two of its executives were fined $960 thousand for the uber pop service. this is the first to conviction

in france. french prosecutors say they offer cab like services. uber is rolling out a new scheduling feature which would allow riders to book rides 30 days in advance. it will begin in seattle on thursday before expanding to other cities. this is a turnaround. here is the ceo talking about the subject in september. >> some people still want to schedule rides. they want to know where the scheduling interface is. we say we want to be so reliable that you do not have to schedule one. but they say -- they want a schedule. i ask -- did you take a shower this morning? and they say yes. and i asked if they scheduled a shower. we want to be that surprising. at some point, that will not be surprising.

emily: joining me now is uber's global experience director, tom. why and how did travis change his mind? >> one of the voices that speaks most loudly is the voice of the rider. time and again, riders have said they would like the ability to schedule rides. one thing we figured out how to do is to create a scheduling ride service for riders that build on top of our on-demand platform. that is what we are starting today. we listened to our customers. when your riders tell you something again and again, we say -- we hear you. intellectually, everyone understands that there are numbers available. emotionally, if you have that early morning ride to the airport you sleep better knowing it is taken care of. it is something we are excited to release. emily: i am excited about this because of that emotional reaction. lyft started testing this earlier before you announced this.

>> we have been working on this for quite a while. this is something travis has been talking about. this is not new to us. we have been working on getting it exactly right so it is extremely reliable. emily: how much additional business will this bring? >> we think this will be huge. things like airport trips and busy executives that have a meeting that ends at a certain time, they will be using this feature. we cannot put a number on it. emily: in terms of logistics, how do you balance scheduling the right driver? >> from the rider's perspective, this is a scheduled ride. the car will show up when you set the request for.

from the network perspective and the driver's perspective, this is like any other ride. our system manages your ride request and distributing it to the right nearby driver at the perfect moment. drivers do not know this is a scheduled ride. emily: there is no idle time. >> as travis said, everything is about efficiency of the system. for us, the way to keep this up efficient is for our technology to get good at dispatching the right driver at the right moment. emily: what happens if there are not a lot of drivers in that very moment or the drivers are far away? how do you make sure you do not miss the scheduled ride? >> if you think about any given city, there may not be a driver in any given block, but there are drivers in the city. our system makes sure you have a driver when you need it.

emily: how do you think about that in terms of competition? >> competition is great for riders and drivers. i am not the right one to talk about this but like everyone else, we listened to our customers and think about what is the best thing that we can do for them. emily: in terms of listening to your customers -- it is interesting. i was just speaking to vinod, and he said the customer is not always right. but what are some things you are thinking about? >> interesting you mention drivers. drivers are an important customer of ours. this week, we launched another big feature that was directly requested by our driver community. it is called -- driver destination. when they are ready to go home, they can say -- i am ready to go

home, please only give me a ride heading in my general direction. that is a feature that we rolled out. we had not originally intended to do this but because of our driver feedback, we built that feature. emily: what is it like working at uber? >> it is awesome. the speed with which we launch is impressive. emily: thank you so much for joining us today. on bloomberg west. coming up, it is a bird -- it is a plane -- it is a car. we dive into the project of larry page -- driverless planes. that is coming up next. ♪

emily: a story we are watching -- do not expect an acquisition of spotify anytime soon. the ceo says he will never sell out to a u.s. tech company. he told reporters in stockholm, that entrepreneurs that sell their businesses is what is holding back the tech sector. what he is referencing is king digital -- all of these could grow big if the founders did not sell. up next, the former head of google plus explains why med tech made sense after google and how vinod khosta convinced him to take the job. more of "bloomberg west" is next. ♪

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>> bond yields in japan fall to record those. investors are betting grateful remain anemic and inflation will stay stubbornly low. the uk's 10 year yield reached an all-time low on thursday. the bank of japan and other central banks are under fire, negative rates are a supernova waiting to explode. he said policies that have pushed dollars in two bonds will backfire one day. -- into bonds will backfire one day.

we are being told japan's most popular messaging app remains on track to announce an ipo later today. it will probably be text biggest market debut this year -- tech's biggest market debut this year. it is aiming to emphasize its profitability in places where it leads and will outline a strategy for expansion in the united states. those are the headlines on bloomberg news. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. last trading day in the week for the asia-pacific. >> we're looking at a fair amount of risk aversion. that view is getting exacerbated a little bit. this, it makest

you think about what the view is from the global economy. you can talk about the lack of inflation, the need for central you've have the fed and the boj a few hours apart coming out with their decisions. have a look at where we are. yield year japanese bond is at -14. have a look at where we are as far as the currency markets are concerned. dollar-yen, that has been the case for the most part of the morning session in asia where you have a strong u.s. dollar. about 1%.kets, down

for a slight weekly gain. you can find more stories on the emily: longtime tech executive vic spent seven years at google working on google maps and google reader. 15 years prior, he worked at microsoft. he has moved on and leads a medical device company. it came with a persistent request of one of the firms backers, vinod khosta. hosla. >> he called me about 30 times. he was relentless. it got so regular, friday night at 7:00, my wife would see the phone ringing and she would say -- i know that is vinod. do not answer that. [laughter]

he was relentless. i wanted to do something that really mattered. and when i came across this company, it had a big emotional effect on me. heart disease is the number one killer of men and women. more women die of heart disease, three times more than breast cancer. to be working with a company that is building a product that can do tact and arrhythmia in your heart and do it in the privacy of your own home in 30 seconds, that is pretty impactful. the way the company is doing it through machine learning, i am passionate about that. it drew me. i knew it was an opportunity i had to take. emily: there are a lot of medical device companies out there that are trying to be the next wearable monitor for your heart rate.

what makes yours stand out? >> we do and electrocardiogram. that is something that is regulated by the fda. it is a very important measure of your physiology and can detect a number of life-threatening issues. one third of all strokes are due to atrial fibrillation. we view the fda as a partner. we worked the clinical valuation to get their support. others do not go through the same rigor that we do. we had up to 71 peer-reviewed clinical studies that referenced our products. emily: who is using this? >> today, half the people that buy this product, by you because their cardiologist recommended it. they had some concern about their hearts. in my case, i had family

history. my father had multiple issues. i wanted to be aware. i carry it with me to monitor how my heart is changing over time. other people buy it because they were diagnosed with a heart issue. one of my favorite stories is people say -- i do not feel well but when i see my cardiologist and they do an ekg, it is normal. but i bought your device and later when i was at my kids' soccer game, i did a check and they caught my fibrollation. emily: you worked at google for so many years. you moved to medical devices. >> in software, you can experiment and push out a build overnight. we could add a change to google maps and go to 100 million people in a day. in the field of medicine, you don't move that quickly. you were talking about people's lives. you move as fast as you can. that has been the biggest change for me.

learning that the medical establishment has to be careful. we are not talking about a smart phone apps but people's health. emily: a facebook employee, antonio garcia recently wrote that when google plus launched, mark zuckerberg waged a war on google plus. what do you think about that piece? >> i did not read that particular piece but i think that the valley is filled with companies trying to do innovative things. oftentimes in the same space and i think that is healthy. you don't want just one electric car company. you want many. it is better for consumers. i don't think big companies should stop competing in the same space. that should continue and they make for great articles. emily: when you reflect on what happened at google plus. what is your take away? >> when i look back at my time on the windows team or the google maps team or the google

plus team, what i can't remember most are the people i worked with. those teams were filled with some of the most amazing people -- people i will not forget for the rest of my life. you forget about the technologies, that you never forget the people. when i look at, i remember them. emily: is it possible to disrupt facebook? >> i think mark zuckerberg is doing an incredible job of execution. i use facebook every day and the innovation he is driving is quite extraordinary. emily: vic was with us. imagine dr. having the ability to pinpoint a life-threatening infection with a blood test in just a matter of hours instead of several days. we will pick up the biotech beat with one company working on just that. tomorrow, do not miss european central blank -- european central bank head.

more of "bloomberg west" continues next. ♪

emily: turning now to breakthroughs in one corner of the biotech sphere. one of the most expensive and deadliest conditions in the u.s. is sepsis. it can cost more than $20 billion and kills more than 20,000 people a year. -- 200,000 people a year. for every hour it goes undiagnosed, chances of mortality increase by 8%. this new company has an fda approved test that can work in hours. john mcdonough is with us. thank you for joining us.

explain how this test works. john: this -- the technology comes out of m.i.t. we have developed a whole new diagnostic detection method that can detect an infection in a blood sample. prior to this, the only way to detect an infection would be through a culture. they take blood, that they culture for several days to grow the cells. typically, cells would have some of this deadly infection. this test can -- emily: we are having some technical difficulties. we are ok now. what other diseases could this

be used for? >> you have several products in development. the rapid detection of lyme disease. 90% of patients go completely undetected and when that happens, a patient will suffer months if not years of long-term neurological defects. the issue with lyme disease -- it is caused by bacteria in the blood stream. it comes from a tick bite. we detect the bacterial cells in the blood. emily: could this be used to test for zika? >> it could. we have the ability to detect viruses and other pathogens of all types.

emily: shares of your company are down 50% in the last year. why is that happening? >> i think the diagnostic space generally speaking is down about 50%. we are a power -- we are a part of the diagnostic industry. most of the concerns with diagnostic companies are related to reimbursement. fortunately, for us, we are not impacted by those reimburse turn -- funds. emily: what about the other diseases? >> we could be impacted with those but the products in the marketplace today, we save hospitals money, three to five times what we charge them for our product. emily: you are trying to decrease the time the tests take which is part of what your competitor is doing but for a range of things.

>> there are a bunch of things that make us different. we place instruments in hospitals. our tests are run in the hospitals. we do not run the tests. in order to get a rapid turnaround time, every hour really matters for patients, you really need to run the test in the hospital and not send it to a central lab. hospital therefore controls the whole testing process. the liability, the accuracy, the results and the decisions related. emily: is this possible what they are trying to do? >> i don't know enough about them honestly to be able to answer. there are a lot of people focused on that know that at her than i do. what we are doing which is different is that we have a new diagnostic detection method. we have 50 different patents behind what we are doing. what we are doing is based on sound and thorough science. we have publications of data

which is -- which has been reviewed by peers. the most exciting thing for us is that we are seeing the impact. we are seeing patients being detected that would have been missed by blood culture. blood culture misses about 50% of the infections and we detect 96%. we believe we are making the difference in saving the lives of patients. sepsis is huge on that. emily: thank you so much for joining us on the show. a story we have been following -- amazon is jumping into one of the world most cutthroat grocery markets -- the u.k.. it will start delivery service to prime members in london. the first time it has been offered outside of the u.s. it will test the strategy of sacrificing profits and keeping

prices low to build the customer base. heading out of shanghai, the newest disney themed park opens next week. the company also plans to produce disney films in the region. we sit down with bob iger and ask about the future of the movie industry in china and possible joint venture partners. >> we have a lot of development activity right now to make movies in -- and disney branded films in china. >> can you tell us which partners you are looking at to work with here in china? >> i am not able to only because i am not 100% certain what we have said publicly and what we have not about that. we are very far along in this process including developing ideas, concepts four films and identifying talent already to make those films.

>> can you give us some clarity on the timeline? >> shortly. >> within a year? >> we will not have a movie released within a year, but within the year we will have a movie in production. emily: that was bob iger. with bloomberg's tom mackenzie. how larry page plans to change your morning commute by looking to the skies. that is next. ♪

emily: tesla is bringing back a less expensive version of its sedan. it will be known as the model x 60 and will go for $60,000 before tax credits. the previous model was disc it -- was discontinued lasted gear. -- discontinued last year. the move is and not to customers who have expressed interest in the model that needed a more affordable price. the $35,000 car, model three will not ship until late next year but it already has more than 370,000 orders for it. silicon valley is serious. serious about flying cars at least if larry page has anything to do with it. the plans were revealed. it took a long time to break this story. you are working on it for a long time. larry page has kept this a total secret. >> a couple of years ago, we started hearing about one of

these companies down in mountain view. there were reports that google was involved. i business week colleague both have tremendous interest in this sort of geekery. we were drawn to this. science fiction has been talking about flying cars for decades including the jetsons, the fifth element. northern california has been a a hub for flying car enthusiasts. back in the 1990's, there was a flying car prototype that was all -- at all of the events. we followed the aero. more recently, we have heard that it was not google but larry page privately. he is financing this through a separate company. it is called kitty hawk. eventually, we broadened the investigation. there are about a dozen companies working on this including airbus.

emily: tell me about the arrangement. there were so many things done to keep this a total secret. people were worked there were given cards with ideas on how to deflect questions from reporters. >> these are stealth companies. larry -- i would put him in the same bucket as jeff bezos or elon musk with spacex. working on applying their dramatic fortunes to solving some of the world problems and create a new transportation system. we know larry page is passionate about that but he seems to be more shy and his friends in the billionaire club. he did not want this to come out. you cannot blame him. right? it seems a little ridiculous until you realize that a electric motors, lightweight material, autonomous navigation systems -- all of these have developed to make this feasible. emily: how close are we to

seeing this in our lifetime? >> i do think it is possible. there is a long ways to go. regulatory discussion. this has to be safer it then safe. unlike autonomous cars, you do not have road conditions, traffic congestion, random verio like pedestrians. -- variables like pedestrians. in some ways may be, it is an easier problem to solve the but you do still have gravity. there is still a lot of work to do to make it safe and increase the efficiency of electric motors. emily: where are they now? how far along are they now? >> we visited a company in santa cruz. they think they will have a prototype flying this year. this is a separate company. the first larry page backed company is flying one of its prototypes at the hollister airport about an hour from here.

kitty hawk has regulatory people on staff. they are already having conversations with the faa. emily: what is the difference between a flying car and an airplane? >> what we are really talking about is personal, electric, autonomous aircraft. something that would fit a family. a car like sudan that can take to the skies. the conventional thinking is that you would drive it out of your garage and take off. what we are talking about here is vertical takeoff and landing. more like the osprey that the navy spends a lot of money for. they take off vertically. the rotors tilt and then they move forward and then they land vertically also. emily: such a great piece. on the cover of bloomberg business. thank you so much for stopping by to tell us all about it. finally, one story we are seeking -- geeking out about.

who better to play elizabeth holmes then jennifer lawrence. the details of the upcoming drama on the scandalized blood testing start up. this will be one of mckay's projects for winning an oscar for the big short last year. that does it for this edition of "bloomberg west" join us for our conversation with meg whitman. best of west will be on this weekend. ♪

>> it is about noon in hong kong. on deals in japan are falling to record lows. this followed an unprecedented drop in the euro. written's 10 -- britain's 10 year yield extended to a low. the bank of japan, one of those central banks under fire. we are seeing such negativity when it comes to bond yields because of these interest rates. this was described as a supernova waiting to explode.