other -- another 60 people were wounded. three suicide bombers carried out the attack. president obama tells national public radio donald trump wants to use the same tack asked that led to the uk's brexit vote. president obama: there is a xenophobia and anti-immigrant sentiment that is splashing up not just in great britain but throughout europe that has some parallels with what mr. trump has been trying to stir up here. mark: the president said mr. trump is the lifetime member of the lawbal elite." applies only to children born outside the united states to one parent who is an american and one who is not. launched acrats proposal to provide 1.1 billion dollars to fight the zika virus.

they faulted the gop for packing the measure with restrictions on planned parenthood money and changes to policies on pesticide spraying. global news tweet for hours a day powered by more than 2600 journalists and analysts in -- in more than 120 countries. i mark crumpton. bloomberg west is next. ♪ emily: i am emily chang and this is "bloomberg west." the biggest ipo is moving ahead despite turmoil in the market. we get a look at the japanese chat service line as it prepares to go of it. we will speak to the company's president about its new range of products. be tech disruption may coming to a theater near you. we will sit down with one of the men who built the flex -- built

netflix. ofe is setting a price range 26 dollars to $32 a share for an offering of 35 million shares. the company hopes to raise $1.1 billion making it the biggest tech ipo of the year. how are investors looking at the deal? team has been reporting on this rotate ipo. tell us about the latest terms they said and what it means. did decide to set back the setting by a day. they decided to push that back a day because of the exit turmoil and other factors but they did go ahead with setting the price range despite the time old in

the market we are seeing. they are not supposed to give the oil price range until july 11. they made evening that things will come down. you look like a pretty strong day in the market so they may be bidding they will see better stability and they will be able to go out and raise that $1.1 billion. emily: virginia eu specialize in donna.specialize in how do you see this evolving? >> no one knew that messaging would be the kind of utility is. it was an afterthought on your phones. -- you had 120e characters. it was an afterthought, a value add for phones. now it has become not only this multimillion dollar -- multibillion dollar business but also a way that tech companies distribute -- distinguish themselves from other companies.

aspect comestext with your phone has been this small place but a fertile home for new language that we have emoticons, emoji's, and pictographic language is like japanese. you have an extraordinary branches of new uses of language. you can see it in the text box, 140 characters, up to 1000 characters, whatever we use now is a bunch of letters. emily: you could say it has involved -- evolved faster here. when you look at line in particular they had a quarter of the number of users that are using whatsapp and facebook messenger. one third of what tencent has and we chat but there revenue model is a bit more diversified. break it down for us. >> they get one third of their revenue from advertising and a third from the stickers and eggs they sell digitally.

they have been going quite fast and they pioneered the model of being able to sell stickers to customers so the business model is pretty strong and they have been able to see some strong profits from that model. as you say, they are undersized compared to we chat and the facebook messaging services that are out there. there he looking to use this money to expand more internationally. they have talked about going into southeast asia and into the u.s. market ultimately. emily: on some of these asian messaging apps, can't you do almost anything within the app and never leave? virginia: yeah. it has become extraordinary. a short time ago we thought of texting is something there never would be money in. you wonder what is the revenue model here, these are the afterthought corners of digital culture that are basically being invented i the users. not much difference in how these apps look but to the extent it encourages

connectivity and creativity, when you first started to be able to exchange audio files or photographs or video, this is a way potentially around social around the social giants to encourage group texts also. it is not just talking to one person like it used to be. threat to the big social networks i think. thing right now is bots and how do you see them playing a bigger role not just in the asian messaging act but in whatsapp and facebook messenger. is this something that facebook is going resources behind. >> you're seeing a lot of innovation in the services and i would say that we chat is leading the way. they have been able to integrate all sorts of services in their messaging. you have apps built within the app and you can try out to writeg from bots

healing services. line is moving in that direction and more of these services are showing up in the west. emily: thanks for joining us. virginia, you're sticking with me. cory johnson sat down with serial investor mark cuban for an exclusive interview. they discussed the role the sec has and the decline of public listings around the world. take a listen. corey: when you look at the end of the rails -- end of the year results, if you look at what has happened over the last 20 years the number of public listings has been cut in half to under 4000 and declining. if you look at the number of ipos which is capital formation and a number in general are falling. i saw some data that said over the last five years 15% of the

money raised through ipos has gone to china. do not even know in terms of other countries. it is not even the u.s. that is benefiting the most from ipos and a lot of vertical markets. that is the second thing. the second question for the sec is to people have more confidence in the markets, do you know anyone who thinks the market is safer than it was 10 or 20 years ago, do you have -- do you know anyone who says they have more confidence in the stock markets and we are not high-frequencyg trading. that is part two. andy: that was mark cuban cory johnson. we will renew more ahead. what he thinks of donald and hillary clinton. the billion dollar -- multibillion dollar buyout of china's second are just search engine is running behind

schedule. the buyout could now close in september. they have agreed to a request from the gutters to transfer the eye out funds offshore in batches. people close to the deal say there are $2 billion left to transfer. short -- the stock has nosedived 36% wiping out nearly $16 billion in market value. with sales quote -- growth flagging their ditching the stock amid fears the company has passed profitability is looking uncertain. the cofounder who is looking to win millennials back into movie theaters. and new tools to help you search and buy things.

later this hour. this is bloomberg. ♪

mi: after two months of turmoil lending club has a new ceo. been acting chief. surprisee the resignation. the company said it would cut nearly 200 jobs. lending club stock has been in the tales in -- a tailspin. that stoneridge asset management plans to buy $1

billion worth of lending club loans. from the fall blockbuster to the rise of netflix's business model for the event has been a roller coaster ride over the next 20 years. involvedguest has been in nearly every turn. he cofounded netflix and went on lead red box. he has turned his attention to another startup looking to disrupt the movie theater business called movie pass. it is three dollars a month, all you can watch inception service to go to the movies the old-fashioned way. first of all, movie theater attendance is down. to theeople are going movies little of multiple movies every single month trade why do think this is a good business? >> seeing movies in a movie theater is absolutely the best

way to see it. i have been a fan of movies all my life and that is why i love this business. going toxperience of the movies has just started to get innovative. we have digital film being distributed now, we have theaters upgrading the environment, great seating, they deliver food. but what has not happened is the business model where consumers participate in the business has not changed in a long time. you come up to the ticket counter, you buy a ticket, you pick the films from the newspaper or online and that i think is right for change and it is exciting for me because i love to figure out ways to get people to see more films and to enjoy film. you agree or are you skeptical?

originate: i agree. peoplee believe that want to with the rise of mp3s they would want to be alone with the experience. we have seen the rise of live music created is bigger than ever before. all people seem to want to do is sellout concerts. there is something to being together and in some cases romantically being together on the classic old date, dinner and a movie. now we have netflix and chill. you can hear complaints even on twitter about the worst tender date is when the guy just wants to netflix and chill. namibia wants to take you to dinner and a movie and i am all for it. up as could attendance go a result of movie pass and by how much? >> absolutely. the business has been flat to a slight decline in to get sales. the only reason there is more

revenue is the increase in pricing. but the experience can be a wonderful one and i think if we can make it seamless from figuring out which movie are you are going to see to getting to the movie theater to getting your concessions to finding your seat to comfortable seats, i think it can dramatically increase. 10 or 20% is not unrealistic and the growth of the business. emily: how do you make money off of it because you're saying the theaters are going to get full price. >> the theaters get full price. we're going to create an amazing amount of data. we are going to be able to move people from one movie to another, from one theater chain to another. the first stage of this business like in any other company that i have been involved in is to prove our value and then to determine how to monetize that area but the first thing we have got to do is build a big customer base with a great

product and a great service that is very affordable and the byproduct is a gets people to go to the movies more often. emily: we are saying netflix, amazon, all these companies spending billions and billions of dollars on content on original content. is that going to catch up with them at some point or is this going to pay off? >> you know it is a great tactic there are so many choices out there. it turns out that people want a little bit fewer choices but more relevant to their own interests so as these companies use the intelligence about what people enjoy and what they like and what they come back for, there is going to be better and better content created by companies like netflix and amazon. i think there is a big future in this. the downside is there will not

be as much variety and that is where the movie theater really comes and play. movies made to 700 every year in the united states that are aimed for the movie theaters and not all of them get played. it is a great environment to see those films and if we can get more people to be more experiential -- experiment to and seeing their films in the same way netflix by having the all you can eat subscription, we got people to try films they never would have thought about watching or paying for it and all of cart manner and it opened up their eyes to great entertainment and i think we can do the same at movie theaters. emily: again you are nodding, virginia. virginia: do all you can eat model has done interesting things for content in the sense that you get these maxi movies, that is what we used to call

movies that80 hour are made with a real filmmakers i'd to plot and complexity and yet run and run. they are an extraordinary achievement we have not seen before. what about returning to a real focus on the 90 minutes or two what kind of new movies might we see on a movie pass system or maybe you would ask viewers to spend six hours in the theater. i would do it. >> exactly. if you go back to what was popular in the 1920's in the 1930's he would spend the whole saturday at the movie theater. there is no reason why many of these hit tv series or hbo series are netflix varies cannot also be part of your weekend or your evening at the movie theater. ande is lots of opportunity there is a lot of empty time on the screen where the seats are empty where -- and where there's

a great environment. there is lots of potential here. >> if you would let me by and for the price of a movie ticket consider me one of your investors. >> ok, salt. emily: we will connect you after the show. thanks so much. airbnb is on track to become the second most valuable startup in the united states. we will give you all the details next. ♪

fundingirbnb is seeking . the valuation has tripled from a few years ago. it makes airbnb the second-highest value startup in the united states though it is quite a ways behind uber. to plan to use the financing

help with growth expansion. first of all details on the round, why are they raising more money, why don't they go public already? >> we reported they raised or a $1 billion debt facility. they're looking to expand. they are growing heavy and china. they opened last year and they're looking to expand their product offering so they are looking to offer personalized tours and things that go along with your trip so you -- when you arrive somewhere in feel and q are living in this city you are visiting. emily: they are suing the city of san francisco over a law they helped create the believe is unfair. and still having problems in new york. there is a bill that would seriously restrict airbnb use if

it is signed or passes. we spoke to the ceo about this last week. take a listen to what he had to say. in new yorkmajority are sharing the homes they live in. telling a middle-class family that they cannot advertise their home is really going to ultimately not be best for new york and i think that governor cuomo, i am hoping he will see that. these how serious are regulatory issues? >> it is something the company will continue to do with. it was a law that was heralded as the first of its kind, and airbnb law for the city to allow this new business to fit into its existing regulatory scheme and it turns out airbnb is not being enforced when we want it to. and the city said if airbnb cannot get host to register it will find airbnb and airbnb is saying we cannot control our hosts that way and you cannot

force us to be responsible. if it does end up eating a fine they would have to have a loss of revenue as well. >> we are used to the overweight of things. saying this is good for new york. the comps is this is what is good for new yorkers, not for uber. hasn't made a bit of a difference or with his new litigation they might become from icing that goodwill little bit, getting in the uber category in people's brains. >> housing is a hot topic. in san francisco housing is very tight. they have been a little bit soft around the edges and it is easy to say that about a most any

company. it is hard to say. they do face a pretty serious tory hurdle. i do not blame them for coming out and trying to present it as something that is helpful for the city and the host. they are always talking about how it is for families, people who own one place, how they are helping to supplement their income, sort of goodwill rhetoric like that. >> it is a hard line to walk. you cannot lose your reputation for hospitality. emily: we will have to leave it there. thank you for joining us. thanks for the update. we will be right back talking with kim -- tim kendall about their new shopping experience. ♪

>> you're watching "bloomberg

west." let's begin with a check of your first word news. the associated press sites a -- cites a senior tirk turkish official who says nearly 50 were illed at istanbul's airport. the islamic state is said to be involved. lacks security at the diplomatic compound but no actions of wrongdoing against then-secretary of state clinton. >> i think it's pretty clear it's time to move on. >> the attacks in 2012 killed four americans, including u.s. embassy -- ambassador to libya, chris stevens. likely republican nominee donald trump announced a seven-points job plan which relies heavily on trade policy reform. >> as bernie sanders said,

hillary clinton voted for virtually every trade agreement that has cost the workers of this country millions, millions of jobs. >> trump also renewed his opposition of the transpacific pimm. the obama administration's deal with china over cyber espionage appears to be working. john carlin cited a report that shoals attacks from known chinese hacking groups with state interests have dropped more than 0% since august. paul allen is in sydney with a look at the markets. paul, good morning. paul: good morning. the trading day is 30 minutes old in new zealand and looking very good. better than .75%. rallies for the british stocks and u.s. stocks and we've seen the pound move higher for the first time since britain voted to louvre the e.u. we're also expecting to see some

strength locally. up. es nzx nodties have also rallied. crude oil, copper and nickel all aining and that comes as g.-20 ministers meet today in bay sling. knee dieng has just gone down this the past few minute. the meeting is going to be webcast as well. expecting a reasonable amount of data for the region out today as well. japan will report retail sales for may while australia reports new home sales. i'm paul allen for bloomberg tv in sydney, australia. ♪

emily: pinterest just got more serious about shopping, a lot more serious. it is streamlining the user experience from seeing a photo online to making a purchase. they've introduced new products including a pinterest shop for the web, a shopping bag that will follow you across devices and new search technology. joining us is pint rest president tim kendall. thank you so much for being here. tim: thanks for having me. emily: as a eullser, i'm very excited about this but this involves image recognition and visual search on a match scale whereby, as i understand it, anything on pinterest will be cataloged and i can figure out where to get it. tim: that's right. we announced a broader effort called shopping with pinterest because we want to help you discover stuff and make it as easy as possible to buy it on

pinterest. we announced the stuff that you just mentioned. a shopping bag that follows you. the ability to buy on web, which we didn't have before and within visual search we launched the ability to, within a pin, we can do automatic object detection so if there's a picture of an outfit or living room, we'll automatically detect the object in that picture that are for sale and viable and if you select one of those you can select and purchase them if there's a match. emily: you'll see a lot of things, you can't figure out where to buy it. maybe it doesn't exist anymore or it's one of a kind or out of stock. tim: the idea is to just make this better and better over time. i'd say right now it's decent but it's difficult to do. computer vision is hard in getting that match rate and experience to be great. that's a change.

we think what we have to date is pretty good and we think we're going to get better and better as we train the models. emily: the other thing you can do within the app is you can take a picture of something, i could take a picture of your shoes and it would tell me where to buy is it, right? tim: yes, i was with the kids in the park on sunday and i saw a stroller and with this technology i could take a picture of that stroller and immediately results would render that would show similar or the exact stroller and how lo me to buy it -- allow me to buy it within pinterest without leaving. mily: it sounds like a dream application and some so many have appear spired to do. why do you think it can work this time? tim: i think on pintest people are there to shop. the dat i-says 55% of people are

there to shop. only 12% of that say that about social networks so i think feoff -- if you have people who are using their service to shop, retailers are going to be there. we have 20,000 retailers on the service. we've gone from two million items for sell to -- sale to now 10 million was -- as of today. emily: how does pinterest evolve from here? is it a shopping site now? tim: the mission is to help people discover what they love. people find lots of ideas and some of the way you make those ideas come to life is you buy something. we want to make that as easy as possible but also, if you find a science experience you want to do with your kids that means taking a bunch of d.y.i. objects from your home, we want to make that as easy for you.

emily: does shopping become the main revenue driver? tim: i think advertising continues to be the main revenue driver? but the idea is let's make shopping work for the retailer and for the user and we'll worry about sort of the advertising model that sits behind that after we get that link. emily: you worked at facebook for many, many years and you know what rapid growth looks like. when it comes to pinterest, you're getting more monthly users than snapchat and twitter. but the numbers have dropped so slowly from april to may. tim: we're now more international than we are u.s. the u.s. user base is great and large. i think what we've shown over the past six months or so is the ability to scale internationally. we have a number of countries we're focused on. we're trying to make it where we

have great content that users want to find. if we make that match, it works. emily: how well are you doing in recruiting male users? tim: we're doing well in united states, we're about 0-20. 0% female, 20% male. the west -- rest of the world, it's about 60-40 so it's more balanced outside the united states. when i joined the company we 2% -- 9 % en and women and % men. emily: what do you see, can pinterest reaccelerate growth, is this a new chapter for the company? what is the vision? tim: the vision is that we can think we can do for discovery what google did for search. google taught us that if we knew what we were looking for and we

could express it in a text string or two we could find it. we think there's an amazing opportunity on your phone that when you don't know exactly what you're looking for, we can help you discover amazing things in the world. emily: from a technological perspective so much work has gone into making this even possible. what are the resources behind this, the engineering behind this that makes it a reality? tim: we have a huge number of folks that are focused on a series of discovery experiences that sit on top of this can catalog of ideas and this catalog of ideas is 75 billion pins. they're all ideas in the system and they're all linked up with people that are linked up with collections. think about this graph of people mapped to collections mapped to ideas and that's all human created and we're basically building technologies that trace that to create two discovery

expans. one is a home -- that you can brows, that that should be a personalized catalog and the other is a visualize search capability. emily: i'll be watching and using. thank you for topping -- stopping by. staying with shopping, new stat about amazon's dash buttons. amazon has added more than 50 mu new brands to the service. dash is meant to instantly reorder everyday items and also boosting the number of brands ability to more than 150. orders are at a pace of more than two times a minute. coming up, dallas mavericks owner mark cuban tells us what he thinks about presidential hopefuls hillary clinton and donald trump with some choice words, as you can imagine. this is bloomberg. ♪

emily: hillary clinton is going after the tech vote. the presumptive democratic nominee announcing to allow tech entrepreneurs a break on their student lonings. the announcement comes as clinton's campaigns in california and colorado continue. we got mark cuban's take on this year's turbulent election cycle. starting with why trump refuse to release his tax forms and whether or not it matters. take a listen. mark: irrelevant. i know for my taxes, there's a big living room able to -- table that i have and there are big stacks all around the tables and i just look at the signature pages and it takes me 45 minute to sign them.

but any previous years i couldn't have told you how much i made and what were my taxes. it's certainly not a reflection on net worth or are aflexion on how much people give to charity. i don't care if people release their taxes. >> why do you think he's not doing it? mark: i have no idea. my guess is it may have been a down year for him. you may have said i made a fortune on the market but not by profits. may have had a negative income. it doesn't matter. >> are you suggesting he's gotten dumber has time has gone on? mark: if you look at how he's managed his campaign to maybe ill be the nominee to i'm the presumptive nominee. if he was smart he would have started to learn that in a national campaign there are certain things i'm going to have to do, certain still sets i'm

going to need to make me smarter about running a national campaign. did he go out and hire people who can create a ground game? no. did he hire people to help him on an advisory basis to help with the political machine. he tried and all those people keep getting fired and turningo. rather than getting smarter and bringing in the help that's needed to run a campaign, he's done the exact opposite and what we've gotten to is him pretty much being dependent on his kids. they're good kids, smart, impressive in every way but i don't know that i'd want them all of a sudden coming in to run a campaign. this isn't shark tank. ok, you can help run this company. we're talking about running a campaign to become president of the united states. getting stupider means not being able to hire the skill set to make you smart.

>> i had incidentaler with c. of the's recently. we were talking about politics and the vice presidential choices for hillary. one of the c. o.'s said you. seriously. mark: good, good. it's not going to happen but you never know until you take the first step and you put it out there. anything is possible but i think tech illiteracy at the top for both candidates is a huge problem. we talked about how do you deal with immigration -- immigration with radical islamic terrorists trying to come into the country from forever. there's no way just physically you can interview even. you're going to have to use tech. whether it's facial recognition, there's a variety of other options. tech is going to get us there. somebody has got to at least start to understand those things and how they apply to all the big issues. you talk about feeling with the future.

etan mouse cars, robotics. jobs are going to disappear. for going to be jobs that disappear just like making records iner the hot, indiana were gone. coal in western kentucky. those jobs are gone. the question is what are you going to do in anticipation of the fact that we may not have resflamentse if you don't anticipate and understand the issues you can't come up with solutions. that's a relevant problem that no one has the absolute answer but at least i could help them understand that and come up with solutions. emily: mark cuban. turning to europe where the tech land same got a whole lot messier. u.s. tech giants are facing a new reality in the wake of the brexit vote. competition, taxes recruiting issues. what will the future of u.s.

tech in europe look like? joining me to discuss, alex webb, who hails from the u. can. . boy, are we in a different position this week than we were last week. >> to say the least. yeah, it's the prospect of a whole new market opening up for those different companies and they have to gear themselves toward that. emily: the e.u. has been pretty hard on facebook and google. what does this mean now? >> the prospect of the british market being slightly more liberal but that means the british fluff isn't playing its role on the european level. europe itself could become more string ept on a regulatory level. offensive privacy is the biggest issue, right? >> right, for people like google and facebook that is a massive defeat. also if you have data coming out of germany and you want to shift it around as an operator, as a

cloud operator, you probably can't do that without the right regulatory environment in the u. can. . they have to make sure that those regulations are in effect the same as the european ones to allow that to happen. emily: could the u.k. get clearer, looser regulations? >> it could but there's still going to be a product engineered towards europe. you're still going to have to have the data prisi, the environmental conditions that more euro might sign or more specific to europe. the fact that that i might be looser in the up k., might be easier to do business there but that other product is still going to exist so you still have the expen. emily: we'll continue to follow way. ry step of the

alex webb, thank you so much. coming up, a breakthrough drug that may we reshape the way we treat hepatitis c. we'll focus on farma.

emily: bloomberg is presenting what we're calling focus on pharma. we're going deep on the gleeble business of farm suit calls and buyo technology. consider this. researchers say they've created two vaccines capable of protecting mice against the brazil yen strain of the zika virus. it raises hopes that a human version may be possible. several drug companies are working on it. workers are calling it a global health energy this year. lead surged in tuesday's

trades. our senior analyst joins us now from new york with more. first of all, just how major of a breakthrough is if -- this for hepatitis c? >> thanks for having me on. this is a landmark event because it's the first time we could rm a drug to a virus not known. is gives us paths into types of hepatitis c market that were previously not served. emily: could this open other doors? >> yes. type two and three are two types of hepatitis c that were hadder to treat. there were a couple of drugs on the market already and until now

they had to be combined with some other types of drug to make them more efficacious. this new drug that got approved today now negates the use of these additional drugs which have some harmful and unpleasant side effect. this is quite important for treating he title c because you want to hit it on the first time that you treat the virus and eradicate -- eradicate it on the fist round. otherwise it comes back stronger. this has given gilead a nice -- to go after these two markets. emily: $75,000 for a first-round treatment. that sounds astronomical but apparently that's low. >> absolutely. my estimates were that this would be higher. it's quite an expensive cocktail that you have to use. we thought there was more wiggle

room for gilead to price this higher. however, the list price is kind of like the sticker price on the drug. there's a lot more negotiation that goes on. gilead may have priced the sticker price lower but maybe reduce the rebait that they might be give -- rebate that they might be giving to the payers. emily: how are they positioned against their competitors? merck and others? >> i've been running my models on this one and what they could -- be doing here in also terms of pricing lower than anticipated, they may be taking a step at getting a larger volume than the rest of their competitors. we're expecting the drug to be approved by the end of 201, america's -- merck's programs further only in 201.

so come in with a decent price. try and get as many of their parents using the gilead drug so that when the others come into the market, all these contracts are in place. that's what we saw with the gilead the first round, the gen type one. they got a punch up front and made life miserable for competitors later on. emily: thank you so much. you can find more of our pharma coverage on the bloomberg@pharma go and on bloomberg go slash pharma. that is all today from san francisco. this is bloomberg. ♪

♪announcer: from our studios in new york city, this is "charlie rose." charlie: we continue this evening with our coverage of britain's exit from the european union. it's set off a series of consequences. the pound has fall be 88% again the dollar in two day and the s and p has downgraded britain's credit rating. the dow fell another 1.7%. political unrest has also