of the airplane that crashed into the mediterranean last month. the plane disappeared from radar on route two cairo from paris. a new poll shows hillary clinton opening up a double-digit lead over republican donald trump. 50% of those surveyed said they would never vote for trump. margin, voters say trump would do a better job fighting terrorism. connecticut democrat chris murphy launch the filibuster to force a vote on gun control legislation. murphy: having come through the experience of newtown, i've had enough. it has been four years. nothing has been done. despite the fact that 90% of the american public wants us to act. mark: senator murphy possibly came as donald trump said he would meet with the national

rifle association of the terror watchlist and gun purchases. nato says it sending a clear message to russia by increasing the number of troops in eastern europe. a multinational force will be deployed in poland and the three baltic nations, all of which border russia. from bloomberg world headquarters, i'm mark crumpton. "bloomberg west" is next. emily: i'm emily chang and this --"bloomberg last." bloomberg west." we will break down the fed announcement and what it means for tech investors. more news from right hailing unicorns. the $28 million valuation. the latest action from e3 -- the biggest gaming event of the

year. stay tuned for all the buzz around nintendo's latest game. keepingral reserve is interest rates unchanged in light of an uncertain job market while bring no specifics about when the next rate hike might occur. they raise concerns over britain's vote on whether to leave the eu. investors are listing those lee and u.s. stocks slid on the news. effect on potential tech? i'm not hearing you too well. can you repeat that to mark -- can you repeat that? emily: how will the fed not changing rates impact tech investing? guest: we are seeing rallies tax off anyhe fed kind of normalization. i think the big picture is said and global central banks have forced people into risk assets.

generally that's pretty good for tech. public tech does somewhat well and private tech, pre-ipo tech does well because if you force people to take more risk, what's more exciting but risky than private tech question mark my fear is we've seen the federal reserve hold off so long that people are starting to get nervous that this recovery is not recovering better or that the fed has no dry powder if things go wrong. i think we're getting close to the end of this being helpful, but it is helpful now. curious what you think the impact will be on ipo's. people who bought -- rationality is returning. companies rather than raising money on what they might do will be raising money on what they have done and you will humbly see more ipo's in the next 18

months then we have seen, which has basically been zero over the last 10 months. emily: do you agree or will the fact that her mates that rates will remain unchanged, will that create an uncertain environment? guest: i think we're going to see a situation where we see more than zero is an easy act to top. we will get more, but i don't think we are going to get the marquee names. uber and airbnb will be slower to come to the market but we will see something happen, which is much lower valuations than we have seen which will be good for investors in the big picture and give them more upside to chase, but we see some of the names they are more excited about. we have some companies coming for ipo's because they cannot raise real money at private comes out inch bigger numbers first and we set the tone for investor appetite. i think we will see a better

second half because the first half was ready darn close to zero. i'm curious about your thoughts at m and day. mark andreessen said there were a lot of pent-up deals in the pipeline. listen to what he had to say. mark: most big cap companies have done well in the past five years. -- big tech countries have done well in the past five years. then they can't go shopping and by these companies, so i think it's indicative of what will be a series. there will be a whole run of m and they this year and next year. emily: what is your take on his comments? end and ahink the strength is something we will see for a lot of reasons. people are arbitrage and the fact that a don't want to pay 35% to repatriate dollars. we will see logic where everyone got excited about the linkedin deal.

the bar is low, so it's better than cash and holding cash with a zero return like the fed discussion is not exciting. i think we will see some of the flailing public ipo's that did not do well, they might be real targets. private names still have to readjust to lower public multiples. there's a lot of great private names and i think we are probably seeing the end of the era and now it's a sign of strength to go public. linkedin-microsoft deal is a one-off. and i think people have gotten way off thinking we will see lots of deals between public companies. i'd do not inc. that is coming. emily: always great to have you on the show. turning to uber's biggest rival 4.5 billionising dollars in a round of funding

valuing the country a close to $28 billion. this makes them the world's largest privately back young company surpassing airbnb, but still behind uber and xiaomi. chairman and the ceo of china renaissance that orchestrated the original merger. thank you so much for joining us. you were here for the bloomberg tech conference. rate to have you. $28 billion. is it worth that? guest: it is still less than a bar. emily: should it be more? roundsi think the recent reflect investors easy as some about the ridesharing market in china. up to 15hey have million daily rides. that reflects on the huge potential of the market. we are pretty excited about the prospects. emily: you orchestrated the

original merger. to sayi don't want orchestrated, but i brought them together. emily: do you think that was the secret to their success? guest: i think it is a winner takes all market. the scale is obviously important. the two companies engaging in head-on conversation, we believed by putting them together, we would make the competition more rational. you think it is a winner take all market in china? guest: we may have a second player that holds a 10% market share, but i think economics speaks that you really need to have a dominant player. emily: uber is pouring money into china right now. what are their aspects? among all the internet companies who come to china,

they are putting up the best fight and they are a tough competitor. is winner takes all, do they stand a chance in the long term? i think we are figuring it out somewhere along the way. emily: you told bloomberg you are trying to find the next jack ma in china. about? you most excited what companies are you most excited about? guest: i think the current generation, the company i -- we just talked about. created a combined company, the largest local service company in china and it is doing extremely well. and that'sther another one we are excited about. yuri milner was at the

bloomberg tech conference on monday and i think you heard him speak. he talked about how much potential he sees in beijing versus silicon valley. take a listen to what he had to say. of the presence is 20% of country and maybe the presence is in china and the rest is in europe and india. there is israel, there is bangalore, there is our linen london and new york and a few other places, but the majority of success and value is still in silicon valley and around beijing. do you see 75% of value in the u.s. are $.25 -- pray 5% in beijing or do you see a different balance? i think it'sl,

probably more 6040 in my view. but certain sectors is more toward here. emily: what about some of the other hubs guest: he mentioned? india is growing fast and israel has always been very strong but they are lacking a big home market, so they are a little bit handicapped. if a lot of his startups to go global from day one. what advice would you give to a company like you are trying to expand in china? are taking ak they different approach to china. i think eventually in this market, they need to figure out how to partner with a local company. airbnb is looking for a china-based ceo. do you think that's the better call? more localization of the service?

i think the businesses global by nature. it's all about outgoing traffic. the increment growth is going to come from chinese travelers. for them, it's about helping chinese travelers have a better global travel experience. they can do this on a global basis where i think uber is more about local markets. chairman and ceo of china renaissance, thank you for joining us today. are watchingy we -- the maker of chips using computer -- in computer networks says it will buy qlogic a deal ballot -- valued at $1.36 billion. the company said in a statement after initially being hunted -- halted, shares jumped 12% in extended trading.

coming up, the ceo behind some of the biggest blockbuster video live the world joins us from e3, next. ♪

emily: a major gaming deal could be in the works. super cell is the company behind mobile hits like clash of plans. it would value the company at about $9 billion. 10 send operate china possible is popular messaging service and has been expanding its focus on gaming. softbank is looking to shed its non-core businesses in a broader shakeup of its portfolio and selling part of its stake in alibaba. biggest videogame conference

of the year is underway in l.a. and among the biggest announcements, highly anticipated hardware of dates for microsoft xbox and sony playstation. one company drummed up serious height -- serious hype. us from e3.s thank you for being here. there's this idea you might be unveiling some new games. what did you mean by a big way? guest: i guess to be here to see it. we have an enormous those at his front and center. we are showing up our upcoming releases in the booth is dressed as a new orleans street reimagined as new bordeaux, part of our upcoming release.

i think the long lines reflect the excitement of those attending the show. up date on grand theft auto six or read dead redemption to? we haven't made any announcements as far as from focusing from this year's schedule. civilization six and nba 2k and wwe 2k, our grand theft auto online property continues to delight consumers with the content drop which has gone great. we have a lot going on and we are focused on their releases coming up in the next six months or so. tell us about the pipeline for new games this year and beyond. guest: i just talked a little bit about the release schedule as we see it. both of our labels are hard at work on up coming releases and

they will make announcements as we get closer to those early states. we had a very full plate -- we have a very full plate at that's our primary focus. emily: you were an early investor in twitch. benefit from that early investment in competitive gaming? that's such a great question. we did invest in twitch early on. the company was sold to amazon and we made a great return on investment. early ont religion about the value of e sports and what it could mean for our core business. we launched a tournament within our nba game where 100,000 teams played matches leading to a grand prize. it was incredibly exciting. itself, theur game

levels of engagement were really extraordinary. sportss us that the e business, which centers economically around league of legends, one title primarily, will be expanded to include titles and we hope one of our titles will be on that short list. emily: some of the other announcements have been around a new xbox at a new playstation powerful enough to support the our games. how are you positioning yourself -- for that? inst: we position ourselves the same way -- we do the r&d and make sure we are ready to meet the market when it arrives. we tend not to make enormous investments in advance of seeing a game begin to make traction. we're are the only company that can bring our intellectual property to market and we don't see there's a benefit to being out first.

we want to be out best. you save the our technology is not really good enough yet to invest in heavily. there is still the nausea factor. how are your views on that evolving? guest: there is enormous excitement around the our. not just in the industry, but in our company as well. the truth is the market has yet to emerge. forme not even sure what software for the devices will take because it is such a novel experience. we are open-minded and we are doing our homework. there are challenges that have to be overcome and he mentioned one. the other is vision and headsets, how long do you want one on your head and what is the nature of the experience? all of these things have to be sorted out and i have no doubt they will be in the coming months or years stop excitement

notwithstanding, the market has yet to develop. emily: what you are saying is what we heard yesterday from sequoia partners who associated virtual reality with the trough of disillusionment and the concern that the hype just won't live up to reality. how many years out do you think you will be ready to support the are in a bigger way or do you think it will really go mainstream? questions which i have raised on a number of occasions. we remain open-minded. and always makes me nervous when billions of dollars are invested around a convention night -- conventional idea of attention with success. sometimes it leads to disappointment but sometimes it doesn't. it worked out well for google and facebook and there are plenty of things we can point to wear a great deal of enthusiasm

has led to success. on the other hand, it is a fair question. we are in a place where if a market zealots, we will be there and benefit from it greatly. if a market doesn't develop, our investment is to menace. live from e3, us thank you so much for stopping by. still to come, nintendo but big on the legend of zelda, but what about a mysterious console in the works? match group shares are up 10% after one analyst called it underappreciated. their 45alk about dating ramp. ♪

emily: andy rubin, the google

veteran who built android into the world's largest operating system is convinced artificial intelligence and quantum computers are the next big thing. aboutke to brad stone what he sees as the next platform. >> we believe it is ai. in order for ai to blossom and fulfill consumer needs, it is about data and it hasn't been about data before. it used to be about engineers writing code and now it's about people training ai systems to learn. playground and read point investors are investing in an unnamed startup working on quantum computing. rebuffed said to have multiple takeovers after hiring morgan stanley. they turned down to suitors with offers below expectations of $30 or more a shares. falling .5% this

year. $2.76mpany is valued at billion. they have technology for detecting advanced hacking attacks. up, video is searching vimeo isw ceo -- searching for a new ceo. we speak with joey 11, next. check us out on the radio -- you can listen on the bloomberg radio app and in the u.s. on serious xm. more "bloomberg west" next. ♪

mark: i'm mark crumpton. let's begin with a check of your first word news. florida officials say the body of a child who was dragged by an alligator into a lagoon at walt disney world has been recovered.

>> at about 3:30 today, we recovered the remains of the two-year-old from the water. body has now been turned over to the orange county medical examiner's office. disney officials today closed beaches at the company's resorts. the orlando, florida massacre has some senate republicans pushing to expand the fbi surveillance authority. the agency has a long-standing request to strengthen the scope of electronic records it can access without a court order in a terror investigation. chancellor of the exchequer says leaving the european union would leave what he called a $42 billion black hole in the budget, one that would have to be plugged with higher taxes and cutbacks. the brexit vote is june 23. recent polls show the leave side is ahead. prince william is the first member of the british royal family to appear on the cover of a gay publication.

in the interview, the future king speaks out against bullying people because of their sexual orientation. i'm mark crumpton. it is 6:30 p.m. here in new york and 8:30 thursday morning in sydney. my colleague, paul allen, joints me with a look at the markets. good morning. paul: new zealand trading for 30 minutes and looking pretty good, .25% and waiting on gdp figures for the first quarter out of new zealand, expect it to show a healthy rise , given an annualized figure of 2.3%. gains, indicate modest but we will take them after a week of declines. looking at declined on the nikkei as well. the bank of japan holds its policy meeting today and is expected to follow the federal reserve has lead and keep the policy rate on hold at -.1%. there is diminishing support for

the negative rates policy, especially with upper house elections coming up. in australia, we are waiting for unemployment data from a. it is expected to hold steady, but it's a notoriously volatile number. while it looks good on the surface, there has been a lot of growth in part time jobs and a decline in hours worked. the governor hoping for a good read because it is the last piece of critical data ahead of the early july election. that's some of what we are watching around the region today. i'm paul allen in sydney, australia. vimeo interactive corp. is looking for a new ceo.

joh 11 will serve as the interim executive. he held to transfer for -- aansform a site to destination for high-end series. they have begun funding their own slate of original programming with the plan to spend $20 million to keep up with competitors, but the company has struggled to win enough attention for it original series. one show moved to hbo. here to discuss it is joe 11. thank you for joining us -- is joey levan. what's the timeline on the search for his replacement? joey: he left because he had a and left to vimeo do something else. a pleasure to work with for the entirety of his career and created unbelievable value

while he was there. , we are looking for the next thing. emily: how much is iac willing to invest in vimeo over the next three to five years? joey: we have not put a number on it. we are in investment road right now. that's changing dramatically in terms of pay tv. it's nicely positioned and we have in the investing and will continue to invest in it. how much we are investing in it is something we will work with the new ceo when we find the new ceo. " was a"high maintenance series that started on vimeo but moved to hbo. are you still planning to do original content? joey: yes. we are going to do it smartly and narrowly focused. given the size of our audience and creator base, we see a lot

of data and we know what people like watching and we know what our creators like making. when we put them together, we have a good sense of what is produced. i don't think it's a game where we are going to outspend any money in this category. i don't think you need to outspend to win. we have to be clever about where we put the money and high moved to hbo which is great for them and great for .bo and it is great for vimeo creators go to our platform and for them to go on to exciting careers is great. in the future, i would like to see them stay on vimeo for their entire career and we have the opportunity to do that. but for some to succeed early and then to succeed elsewhere, i think is great. the match group

as well as other dating sites. analystsa note where called it underappreciated -- what is the potential you see joey: a lot of our businesses are frequently underappreciated and their value and it's nice to see the talk up. we have four of the top five dating brands and that's a tremendous category that for a long time has grown and is now growing in an exceptional way because the stigma of dating and meeting people is dating project -- products has disappeared. i see huge opportunities ahead in dating. emily: there are a lot of online dating startups trying to disrupt the market. what do you see is the future of

online dating and how do you stay competitive? joey: you always have to keep innovating on the product and if you keep innovating on the product, you have to think about different markets and different demographics in the right product for the right market and demographic. tinder has done a good job for the under 35 people and match and other products have done a good job with over 35. we have products in edit target smaller in their word and graphics, so finding the right product for the right audience is the hard part and then continuing to innovate, whether it is in mobile or how you enable people to chat or the tools and games you give people to be able to interact with one

another is where the innovation happens. competition keeps the market healthy and there are players out there. i don't think any has reached the meaningful scale hours is reached, but we keep an eye on it. emily: what do you say to the tinderism that apps like may lead to fewer people wanting to commit to long-term relationships which may be good for business but has a detrimental effect on society? joey: i don't think it's good for business and i don't think it's true. ,eople have always been meeting people have been meeting casually and seriously. what it does is makes the meeting introduction and getting to know process easier. it eliminates a barrier, it doesn't change anyone's savior once they met somebody. it shouldn't change someone's there are many

long-term relationships that come out of it, marriages, children, things like that. ishink that narrative meaningfully overblown. the ceo of iac, thank you very much for stopping by. to the world of virtual reality -- comcast is leading a $6.8 million investment in felix and paul studios. they've is content for facebook and studios like universal and fox. it's the first investment in the nematic vr. the company has invested in five other companies in areas like life sports and animation. it reflects a growing demand for stories in the nascent medium. biggestp, one of the video game brands in the world is fighting for market share as a mers move to mobile and in oliver's x era meant with the are. -- and developers experiment

with vr. we will check in with nintendo, next. ♪

security firm can spur ski labs saying it has uncovered and online marketplace selling access to hack data for more than 70,000 corporate and government servers. run mypany is likely russian speaking hackers who charge a commission on the black market. and unnamed u.s. aerospace

, and a chemical company from singapore are reportedly compromised. hired a bank to help it go public. morgan stanley and j.p. morgan chase will leave the ipo -- will lead to the ipo. and ipo could come as soon as this year. our ipo reporter is here with me in the studio. what do we know mark alex is an exciting new in my world because there hasn't a lot of activity in tech ipos. with carbon black hiring these companies -- this is a cyber security company, it's backed by big names like blackstone and kleiner perkins. this is a company that is making moves and taking steps toward going to market, which is an unusual thing these days. tech ideas,k across

one of the big complaints is there's no supply here. this one is taking the steps to go public and give an exit. emily: mark andreessen yesterday says ec's a lot of pent-up ipo demand. entries in horowitz is counseling their companies to be ipo ready. alex: which hasn't really been the case. as i cannot here, there seems to have been a shift. was this idea talking to vcs and executives saying we don't want to deal with reported quarterly results. it seems like there has been a reality check injected in which has set this timeline for 2017. and the demand side ring is interesting. we have had this year where investors have then a verse to risk. a lot of the demand earlier this year was just not there for we are out -- we are at this

turning point were offerings have gone well and the buy side has set i want a little more risk. i want something that is potentially high growth. so it's good for the business and good for companies looking to get ready. they are looking to price on the 22nd, as much as a 100 30,000 -- 100 $30 million raise. the deal seems to be going well. and then trading and a lot of i/o tech companies will be paying close attention as well. emily: thank you for stopping by. let's return to the biggest videogame event of the year -- e3 in l.a.. so much buzz has been centered on the battle of the consuls. microsoft and sony announcing more computing power for vr.

but one company still fighting for market share is nintendo and promising a new console in the works. joining us is the nintendo for america president. i want to start with the big zelda unveiling. tell me how big a deal this is for nintendo. this is a huge deal for nintendo. it's a fantastically huge game, bigger than any nintendo has created. we brought it here to e3. boothe lines around the with people waiting to get their hands on this experience because thes so phenomenal, pushing edge of our system and we have committed to launch it sometime next year. we are excited and the fan reaction has been fantastic. of fans were hoping

you would really some details on the new console you have coming. what details can you share? is for thiswe said year, e3 is all about zelda. it's all about this brand-new experience where you can go through this environment, anything you see, you can get to and explore. that is what we brought to e3. we've got plenty of time between now and march to shared details, so here is all about selden. so news is the entire him or zelda environment and the attendees at the show are loving it. emily: your competitors talk about the xbox and a new playstation. how do you think the new console will stack up against them? about for us, it's not specs or teraflops or the

horsepower of a particular system. for us, it's about the content. nintendo is a content focused company. we create content that makes people smile and we are focused on bringing our best u andainment to the wii the future. whatever microsoft and sony are doing talking about the systems, that is for them to fight out in that red ocean. we want to make sure we are bringing our best content forward and the reaction to zelda has been more than we could ever imagine. you foresee a dip in actual game sales because people will be waiting for these new consoles and there is such intense competition? guest: honestly, no. what we know is when we launch new games, the demands for the games across the world end up being very strong.

when we announced platoon and super mario maker, the demand was very strong. newave talked about the pokemon coming and when we announce big new games, consumers are motivated to buy those games. for us, that is what we do. we create content and bring it to the marketplace. as long as the content is seller -- is stellar, we can drive it to revenue. how is nintendo positioning itself for the future of virtual reality? we just talked to someone who is skeptical about the promise of vr and believe there's a lot more to do on the platform before they will invest heavily in it. here is nintendo's take

on any new technology. technologymake sure is mainstream and we want to make sure it represents strong value for the consumer. was a lot of gyroscopic technology in the marketplace, wii and the the remote to take it. first electronic device that made use of a touchscreen. vr, for us, the technology has to be a point where it can be mainstream and then takes content creating companies like us to make things the consumer wants to experience and wants to jump into the particular technology. that's how we move it lowered. we have been looking at the vr space is the day of the virtual boy. our contentake sure

is going to be mainstream and mass-market approachable. when that happens, you can expect nintendo to be there. emily: how far out do you think that point is guest: mark i haven't seen the latest at show but i've seen just about every other vr experience companies are working on full in my judgment, i think it's a bit and investorsere can invest a lot of time in it versus short snacks of entertainment. can you elaborate on the new pokemon go game coming out next month? is a fantastic experience where you use your smartphone as well as an accessory to look for pokemon in the wild. it takes you all around your home city, walking through

various streets, riding a bicycle, any lace you go, you can find pokemon. the development team is very experienced in these types of applications and we are excited about it. we think this is going to be a fun experience for the fan, both the older fan and younger fans we for us, this is something are very excited about and look forward to driving it next month. emily: the nintendo of america president live from e3. thank you for joining us. on of up, a hard landing course i still love you -- that speak for crashing a rocket in the middle of the ocean. ♪

emily: in this edition of "out of this world" -- spacex launched to satellites into

orbit, but the real drama was on the other end of the mission. the attempt to land a rocket on a floating barge was a fail, ending its success streak. they had said it would be difficult because the rocket was going very high into orbit, using a lot of fuel and leaving less for the rockets return. the musk tweeted that booster rocket had an our ud on -- had an rud on the ship. that means rapid unexpected disassembly. biggest single behind russiag and nasa -- satellite launches are expected to increase globally over the next five years as countries like india and indonesia rush to bring phone service for the first

time. india has 35 to life in orbit but does they need -- to catch up with that demand. time to find out who is having the best day ever. today's winner is amazon users. amazon is slashing shipping fees. threatses a attentional to alibaba's business. in all can chinese sellers with shoppers. less thanhip at 67% the current price. that is all for this edition of "bloomberg west" have a great day. ♪

>> from our studios in new york city this is charlie rose. charlie rose: we begin with our continuing coverage of the orlando attack. 49 people were shot dead. major continues to unfold. it has been reported that omar mateen frequented the club in years past. hise is also suspicion that second wife was aware of his plan. president obama spoke earlier today at the u.s. treasury. president