♪ emily: i'm emily chang in this is "best of bloomberg west," will he bring you all our top interviews from the week and tech. next come on billing a bold plan to colonize mars. how wants to build a city of one million people in .plus, wiegh the president shall election an interview coming up. and, disney jumping in the race for the potential bid to buy

twitter. but the media giant season a struggling torture media company. it will discuss. first, to our lead. spacex ceo elon musk says he wants to build a city on mars. impossible.o do the it is something that we can do in a lifetime. thatere really a way anyone could go if they wanted to? that is the important thing. emily: musk it could take between 40 have been hundred years to create a self-sustaining civilization with as many as one million people. he unveiled a framework of the rockets that spacex want to develop to get us there. professorniversity joins us along with starburst accelerator founder to discuss. n collectinge reasons for the last 40 years.

the impossible return on investment, but it is exploration list of great civilizations explore. as elon said, this could be a hedge against future catastrophe. emily: do you believe we could face an extension event here on earth there would need to go to mars to survive? >> the dinosaurs needed a space program, right? it could happen to us although personally i'm more interested in the scientific duplicate people to mars. emily: what are your thoughts on this? theould be easier to set up city than just going back and forth. >> it is a good point. i am sure at some point we have a city on mars. spacex already has a good start technologyon the that it would take to build that city. it makes complete sense, of course. emily: the plan musk laid out, d.c. any holes in it? >> there is nothing that is

crystals or a transporter beam it is all plausible but at a scale that nobody has ever attempted before. he is talking about iraq in four times the thrust of the saturn five. will it scale up? i wouldn't bet against elon. emily: being a partner here, nasa is actively different view of why we need to get there. more for exploration, a man's mission in the future. musk is going for an all-out civilization. >> i think this is extremely important. i think you will be a public-private partnership and may be an international partnership as well. i don't see this as being just the u.s. and spacex. emily: talk to us about the funding of this. it is going to be extremely expensive. traditional or conventional means it costs $10 billion a person to get out there. elon musk wants to drop that to

$200,000 a person was done what you think about his proposal to investors? >> i think it will be a multi step business plan. we can compare that mission with international space station. it got funded even if at the beginning it was only make sense for research purposes. as soon as there would be a couple of people on mars, maybe would find some interesting new types of materials or properties corporatee for large would make sense to invest and put a laboratory or research on mars. and so, they could participate in the funding of the next st age. 10-20 years when we improve the engines and to go there,sts

that would be another business case for more people like us to go there. so, it will take time. i see that more in a step-by-step approach. scott, they should a video at the event today detailing the plan to the extent that they know them most of the that look right to you? did you see any issues? scott: he focused on the transportation. of course that is what spacex apple tohe admitted the pieces that weren't shown with things like the life support. had the support 100 people in the months and months it takes to get to mars? said you can live off the land which i believe but didn't show any of the equipment with the necessary technologies to do this. pieces likere other on orbit refueling, this is something that nasa has started

in the past but never implemented it. a lot of engineering development but the big nature, and optimistic and visionary picture hangs together a thing. emily: how might you support life? even just getting there? all, you need water. in the food and as he said the luggage and other pieces you carry with you. if he can truly build a vehicle this big you can take a lot of that for your trip out. if you build a civilization yesterday convert all of the water ice we know about on mars into water and oxygen to breathe and rocket fuel and so forth. feasible andis there will be an experiment in the future that nasa will do to show that is possible. and nobodys point has shown it can be done on this kind of the scale. emily: last question to you, do you believe -- when elon outsourced the hyperloop, a whole new wave of innovation started up. do you see this plan leading to

the same thing? creating smaller companies out there trying to make it a reality? >> so, i really believe that it can be possible and can be done the same way it was done for hyperloop. in that, aselves platform where we provide startups and innovation that would be enablers for life on mars. even when you look already we have startups that are doing that by being planetary resources and deep space industries. we have all the starters that have been funded by nasa. they are actually working on the another vigaro is startup right now building a condo in space. is already a dozen startups that are working on different screens. to buy fromcess

mars. emily: that was starburst accelerator founder and stanford professor scott harbored. to a story we're watching cisco 's them to spend $4 billion in mexico in the coming years as of company will upgrade factories and raise production but the planning could be delicate for cisco coming to six weeks after announcing job cuts. in days after the first u.s. presidential debate in which donald trump threatened to hike taxes on companies moving jobs overseas. speaking of donald trump, still ahead entrepreneur and investor reid hoffman had some choice would regarding his candidacy saying a trump presidency would range between disastrous and terrible. that full interview, next. ♪

now, snapchat says it is

6 million daily active users in the u.s. and canada but a third of the user's facebook has in alley which is the most lucrative market for social media advertising. both americans driven the bulk of sales on facebook and twitter and will likely for snapchat as well. now to the u.s. presidential election many business leaders have remained silent about their views on this cycle. themhoffman is in one of post of the prominent silicon valley investor recently authored -- offered to donate $5 billion is donald trump releases his tax return. in an individual and a step further by going in depth on why he thinks trumwould be a disaster for america. about his personal meaning to the lubricant than and his conversation with his longtime friend from his paypal mafia days you feel who endorsed trump -- peter thiel who endorsed trump at the convention. it is the most emotional we have seen him in many interviews.

an: i think is important for the democratic process to understand the conflict of interest of our leaders. to reveal their income taxes, they don't live. whether the person is honest about what they are asserting that their wealth or or their carepy of america posted you can see all of that from income tax. if you are hiding it, if you refuse to disclose it that is an important political thing which we should not allow as an american citizens. emily: so, the cofounder of facebook offering $20 million to democrats in the selectable to mark cuban offering $10 million to charities at donald trump sits down for an interview with him. what contingent send you the most in particular by donald trump? i think he doesn't have a policy plan for my thing he asserts he will defeat isis and fix the economy. i don't think it's any plans for that. yes no demonstrated record of public service for stomach think

it doesn't know -- these are real problems. we need to solve them. we need people of a plan were thinking about it and consulting with people about it for that that is what we need. that is not donald trump, that is hillary. emily: what would be the impact of a trump presidency on innovation and silicon valley? ffman: it would range between disastrous and terrible, somewhere in there. that is partially because what we do is we take these risks to build a global product. we are essentially in silicon valley building these things which -- iphones, and google, to represent america to the world. of to bring back a bunch positive economics into the u.s. system post-up drums policies would greatly damage -- your system. trump's policies would greatly damage that. how do you invest in innovation and how do you do that over the long-term? it is not the art of the deal or

a single deal maybe you don't pay your contractors later. it is not that kind of thing. it is the kind of thing where you invest in the long-term post-up that is what i see hillary doing her entire career as a public servant. how do i build the innovation economy? that is not trump. emily: what is your impression of hillary? hoffman: she will be a great leader. wants toquestions and bring america together for touch is very focused on small business and how does every american get a job in the future? how does that happen? is it investing into bitter science, small business, or capital for small business? how do we make all that happened so in the future together. she approaches it with a question of how do i get everyone involved? what are the ways you can help with this?

she never asks me about winning post-up she asks me questions about the economy, about middle-class, about technology helping the middle class. those are the kind of things we see from hillary. emily: you send a letter endorsing hillary clinton. what do you think she needs to do to win younger voters? the people that don't even want to go to the polls? hoffman: they want to hear a big vision. that is why they loved obama. hillary is a content leader. she says how to make something happen? she doesn't say i will issue this totally big vision that will wow people my charisma. she says i know how to get everyone in the boat and run a democratic process and govern in an effective way. what i hope to see, the young to understand that

it is the i am a competent leader. that is what i am voting for. she actually has her values he should get out and vote because this is the future you want to be part of. emily: it is so clear to you what is the right decision. it is not so clear to summon people in america. the polls have tightened up i do think that is? hoffman: people the to understand that we are in a mini crisis in america for the many people are worried about our future. or would we have overextended globally when our children's jobs will be. go to issues. those are super important. it is important to solve them. it is imported to get everyone in the boat to get in a democratic process by which we we coming together, which collaborate to make this happen as opposed to making vaguely racist slogans or other kind of things. are in we feel like we

crisis and want to change. that is important. i think the way to do that is working together. emily: that was the first part of our conversation with reid hoffman. we will hear more next, and because around his conversations with longtime friend and trump backer peter thiel. the silicon valley m&a cycle heats up we you from veteran dealmakers but what is driving opposition and buyouts. ♪

emily: now back to my lengthy conversation with silicon valley jupiter reidon hoffman. i asked him for his thoughts on investor peter thiel's backing of donald trump was to take a listen. beenan: peter and i have arguing for 30 years. we argue about a lot of different things.

i think peter feels intense that we need that kind of radical change. part of the reason he was able to give what was by and large a very good speech at the commencement -- the convention which was actually a thought yes we are builders and should be building. actually, hillary is the candidate for that not trump. so, he and i because both value truth we talk about this a lot. we're are in a constant sitomer argument about this. i am right and i think he is inventing policies that trump doesn't have. emily: using bital heard peter when it comes to entrepreneurs and support within the valley? do you think he will lose valley -- opportunities because of this? ffman: i think the impact will be relatively minimal. i do think like a most of the questions that i get from people here who are strong business people who invent the future are trying to be good americans both

the u.s. and abroad think has he gone crazy? why does he have the views he has? everyone that is the first question i get. we know what we need to do to try to help all of america. that is hillary, not trump. why is peter often this weird place by himself? i have to explain that he thinks we need a radical change in his inventing policies that are actually never credibly seen from trump. emily: you don't think he has gone crazy? hoffman: they be in little. [laughter] your: i needed make decision to put your name until lightly. up to you decide to step the plate? many business leaders have been tiptoeing around this. i'm sure there are some doing the same for hillary clinton. do they have an obligation to speak up? hoffman: i think they do. the candidates are close

together at think it is a reasonable business decision to say i will be inclusive by being apolitical. i will not comment. oo,ublicans buy nikes t things like that for some i think this is literally two different planets of choices for stuff on one hand the most prepared candidate in history. a lot of experience and great ratings with you secretary of state for steps you will be great on foreign policy. she has depth of experience in the senate and experience in the white house as first lady. you give is very long -- i know this game is played and i can start immediately day one being effective as of the have a reality television star who does slogans. that situation we have to say we have to step up with that this matters for the visual matter deeply to all americans in the next four years. what will be our standing in the globe? rs says we will go

into a recession nearly immediately if we choose wrong here. lets make the right choise. th -- choice for that the business leaders need to say to be inclusive and to be closer to my customers but i need to step up and say as a leader what do i think? emily: you talk to everyone come you the biggest networker in silicon valley. tot have you been trying encourage people to do behind the scenes? hoffman: to figure out where they can lead. i think everyone can lead. the more power and resources the more influence you have you can leave more. up about things you think the most important. at the very least, inform the electorate. ay we think this will be complete disaster for business that his business is actually -- i think it is for bankruptcies -- four bankruptcies? step up and say what that is.

you can say it in a gentle way. you don't have to engage in the vitriol that is so common. you is what i think the right decisions are, and here's how i think you should think about them. interestedow you are in the political process. you post about the political process. when it comes to the electoral process, what makes you most angry? that elections are run today, the way this country is run today? is a lot ofre things that of the thing that is most difficulties a little bit like the obstructionism in the confirmation of the ninth justice. we are in this boat together, let's work together. we may have point of different we may say that x should be the policy rather than y. boat together,he

let's not do lots of name-calling. let's not create fictions around this birth certificate for years for the let's not do any of that. let's say how do we actually figure out a way to improve the boat we are on. we are all on it for stuff that is the thing that is most frustrating. emily: i know you love games come you created a card game cards,"trumped up which you call a satire that reveals the absurdity of our recent situation for some what is the idea here? hoffman: games are things that you do socially. e context to have a conversation with the philly i think it is absurd with someone who's prior requalification is a reality television star running for president. but, think about it -- be informed. positions are.he because absurdity in the tradition of the daily show and odhn oliver is very go

education without this would be a good way of having edutai nment. people can play it then talk about it. that is the idea. emily: this is a game that now saysbody can buy, it including vladimir putin postal last question for you, i know it is hard to ponder at this moment but if donald trump is elected what will you do? with the move to canada? will you leave the country? hoffman: my obligation as a citizen is to stay for stuff but for the first time in my life i have the impulse that vancouver is not such a bad town. i decided to get that prolactin. i saw that decision and i thought i have to step up veryse -- if i, who feel deeply about the patriotic as possibility of being a citizen. if i am having that a motion i should step into the game. my interview there with

entrepreneur and investor reid hoffman. story, u.s. regulators claiming technology discriminates against asians, raising questions about diversity in silicon valley. the labor department said they relied on employee referrals which along with the resumes and phone hiring process resulted in bias against asian applicants. regulators are asking the judge to award lost wages and benefits of employment to the applicants. palantir denies any allegations of bias. you can also check us out on the radio. ♪

emily: more news this week on a potential twitter sale. the walt disney company is said to be working with a financial advisor to talk about a potential bid for twitter, but will the move makes sense for the media giant? deal toered into an nfl live stream the first 10 games. espnith disney's continuing to lose subscribers to cord cutting, they could shift to mobile and multimedia platforms.

we know that disney is working with the bankers -- >> we know that disney is working with bankers to evaluate a possible bid. they have not made a bid yet that they are interested in twitter as a mediaproperty, and we can speculate as to why. disney is getting more into its remake. -- it's streaming. they are trying to figure out how to redistribute their video content, and for twitter, this is something they are into too. they are packaging tweets in video form first. they want to make sure that people can get into twitter through live streaming. emily: does disney buying twitter make sense to you? >> i think so. back in july we said we see it as one of the most two realistic buyers, the other microsoft.

how do you operate in a post cord cutting out? you have to have the investments and the second one is distribution through each audience, and that is what disney could potentially provide. we are seeing an increasingly incestuous relationship. have dorsey on disney's board, doing deals together. mediausly we had said companies are probably not the best to buy twitter, that i think that disney could be the unique exception to that rule. emily: as you said, jack dorsey on the board of disney and bob iger, the ceo of disney has not shied away from making big that's. he bought pixar. does it make sense to double down on sports and espn itself is struggling? >> espn is struggling that

people are not going to stop watching sports and the have to think about what is in the future of that. the way that twitter is making this work is they are streaming but related to whatever is going on. it could be sports or the presidential debate. they think this might be a way to get people to tune in via the web. certainly wanting to be a little bit more technology forward lately and as you mentioned, iger has put dorsey and sandberg on the board. i think it is going to be a hard debate to have because it is very hard to see yet whether we can make money off of this strategy. emily: there are other potential players out there. salesforce is interested, alphabet might be interested, potential he other companies we do not know about. what makes the best sense for twitter, staying independent or

going somewhere or if so, where? >> i do not think twitter can stay independent. they have to be part of a bigger entity. i think disney and microsoft they can most sense at the top. i think the salesforce news could be part of mark benioff's plans to get the $10 billion in run of dutch revenue. -- revenue. google does have antitrust concerns and private equity, which i'm pretty doubtful on. at the end of the day, i think a big company does make much more sense for twitter to operate within rather than independent. emily: that was bloomberg's --ah frier and james walmart is in advanced talks to invest as much as a billion dollars in india's flip cart. it is the largest online retailer in india but it's lead

is under assault by amazon, and an alliance by walmart might help them take on the e-commerce giant. the country's online market is expected to grow about 45% per year until 2020. we will discuss the crossovers and evolution of private equity. and apple's first original show has an all-star cast including without trial and jessica alba. we will be talking to ben silverman. this is bloomberg. ♪

emily: this is "the best of bloomberg west." i am emily chang. we take a deep dive into the world of the private market. how tech investing has evolved with some startups commanding multimillion dollar valuations,

disrupting often heavily regulated parts of the economy. they are attracting private equity players to the tech space. -- andl's scott partner at tbg. -- of whethern at or not to go public has so many angles. while the markets be receptive? as long as they are investing privately, what is the hurry? the point you are making about valuation is a key one. ahead not want to get to of yourself because the public markets will probably be more disciplined about valuation than the private markets where we are seeing that with the proliferation of unicorns. if they were all to be public overnight, we would probably see a correction in several numbers

of those. you have got these companies like airbnb and uber, and as david said, when uber was raising capital, because we did the series b, we were saying over has so quickly -- uber has so quickly transpant it just transcended what the value is. that is when we went to the guys at tbg and said you need to get in here, and uber said yes, we can benefit from somebody like you so these guys are exceptions . i think if you look at the amount of dollars that uber and airbnb absorbed and finance, i think one third in the recent quarter so you are seeing a barbell affect. emily: airbnb is in the middle of raising millions of dollars. is it smart for these two

particular companies to be waiting this long to be driving their own valuations up before they see what public market investors would actually pay? >> i think they have the best of both worlds now. the only way to access a lot of liquidity was to be public but in the private market you can access a lot of liquidity. they have to benefit letting the back office catch up with the revenue, generation of business, getting that docs in a row -- ducks in a row. of thesehe assumption companies staying private longer, perhaps if you are saying companies with those billions in revenue used to be public, that is fair, but if you look at the lens of when they are founded, these companies are six years old. i am not sure if you go back and historically whether you see much of a differential if you

look through that lens in terms of when companies go public after being founded. it is the scale much more rapidly than a historic giant. i think part of it is give them time to get the back office in order, to be that quarterly file or. as long as you can have your kate and -- cake and eat it too, why think about it? >> it is going to be the key determinant of valuations, is how willing the public markets will be to pass forward. in good ipo markets, tech investors, they will go one or two years out and normalize margins, and give you a multiple from there. they are doing almost a mini discounted cash flow two years out. if they are willing to go to that extreme i think you can start to see a lot of support for not only these valuations but premiums on these valuations in the public market. while the public market pay for

growth? if you look at the back -- past 10 ipos, they are all trading at issue. about one third of tech ipos trade below issue. there is really know where to invest for these public investors. a lot of the flow has been absorbed. m&a? what dobout you see more of? >> we are in an m&a cycle. we are in an m&a boom and i think it will continue for at least a few quarters. what could trigger m&a, loaded balance sheets at the corporate level. there is a lot of cash and little innovation and for the large part, corporate have outsourced a lot of r&d to tech startups so we have seen a bunch of e-commerce recently. darlingseeing the tech start to put some hurt on the incumbents. we have talked about it for

years and it is actually starting to happen. the innovative models need to be replicated so walmart's acquisition is a great example of that. it made no sense by the numbers but the team is a fantastic team . they are building a marketplace and 58% of amazon's revenue is marketplace revenue, and walmart has zero. your margins are much higher. macy's closed 15% of their stores. that is a problem when you see e-commerce companies growing extremely rapidly because the new generation is willing to buy elsewhere. m&a is going to continue for sure, especially while the ipo markets remain heavy. we saw microsoft, linkedin, walmart, unilever. , when, you think, what how much more? >> i think a few things scott

mentioned have been true for a couple years. they have access to cheap capital, people trying to manufacture growth anytime they can. the thing that is starting to shift is more realistic seller expectations. you are seeing this private financing market change and we see that in a few different ways. inould argue in this run-up this environment we ve bn in, it is much more about access to investment opportunities rather than diligence. we probably put too much to industry to access without diligence and flipping back to diligence, it is great investors have both. i think you are getting more rationality, people realizing operating these businesses, scaling is tougher than expected. willre starting to see, i go it alone and be fine, people are questioning that. i think that is starting to turn our m&a environment. emily: have we been in a bubble

or are we in one? >> i think we have been in one is to reset. .eople have time it is not going to be one of these things that the tap turns in the private markets in 1999 and 2000 was very different than what happened in the public markets. here it is much more concentrated in private hands. companies have much more cash in the balance sheet. is this is on average are probably healthier and better so i think it will play out over a bit of time. going toitter, what is happen to twitter? we have reported that disney is interested, salesforce, alphabet. >> i do not have any inside information but i would say it is a fantastic asset with its reach. it would be additive to a lot of folks. .isney would make sense

if the football example is going to stick, that is a great example because disney does not own distribution in so much as they can have their own and operated distribution through a twitter platform. it has been rumored salesforce will be in it for the data and i think it makes a lot of sense. it is an interesting story playing along the lines of what david was saying, although twitter under scrutiny, flat subscriber growth, and really trying to find themselves. now they are probably going to be defined by somebody else so i think it is clear by the signals, they are having conversations. emily: you guys are investors in spotify. they are interested in buying soundcloud and expanding to japan. what the future of this means for spotify as an independent company or not an independent company? >> i cannot comment on m&a

speculation. the results have been really outstanding. i think when it gets reported, people always think it is kind of this fixed pie in the industry, and if apple does this, what does that mean for spotify? i think we are in an environment where the vast majority of the addressable audience are not subscribers yet, and by more entrance into the space, the rising tide lifting, consumers are becoming more aware of this value proposition in streaming. i think all of the new entrant activity is great for all players and when consumers do the research, a start saying, what is the best product and why? emily: you guys are both biased, but what about lyft? independent acquisition or both? >> david, do you want to take

that one? >> the rumors that have been out there, it feels like they want to try to solicit m&a interest, not sure where that came out. it will be interesting to see how that business continues to evolve relative to competition with uber. people focus on these card networks and have belief in self riding cars. i think it would take somebody with a very long-term corporate or strategic interest to see that relative to the underlying unit economics of the business. >> i think lyft is a sideshow. google, apple, facebook, what are they going to do? emily: coming up, what does the future of tv look like? an industry from veteran and the maker of apple's first original program. ♪

emily: apple is moving its

london headquarters to the south bank of the river thames. it will be the largest tenant at the former power station with 1400 employees across six floors, but not until 2021 when the project is complete. the future of content, who owns it? what does it look like? for the bestg original content and apple is we know it will be about the app economy with paltrowalba and gwyneth appearing. what kind of show is apple hoping for and how will it be different from the rest? we caught up with then propagate co-ceo at and former cochairman of ndc --

nbc. long experience with apple, having produced "the office," which was one of the original shows that helped in the rollout of itunes. . great long relationship it is thrilling. "mountly, our all-star rushmore" cash -- cast is exciting and something i'm thrilled to be working on. show: i know you want the to be different than anything that has come before so how do you expect to make it different from let's say "shark tank" or anything else on television? ben: i am not able to reveal that much about our format to the public at large but i will say i do not think there is a lineup -- a show with a lineup of such accomplished entrepreneurs.

a real perspective on how technology works and app development, but also how to build a business. if you look at the valuations associated with what jessica has created and is potentially selling to unilever, and if you look at what gary has accomplished from being the first youtube star drinking wine to push products for his dad's liquor shop, and if you look at i.am has done. goop, gwyneth's company is doing well. apple as a partner is extraordinary and one of the reasons we were able to attract that talent is because we are in business with apple and they are

our partner. i am sure everybody wanted those ladies and gentlemen on their shows and we got them because apple is our partner. emily: you also have a number of other different projects going on right now and i'm curious, where do you see the future of content going with the rise of so many distribution platforms? having been on the front of the itunes revolution with "the office?" ben: i think we all need an updated tv guide. i took my mom and six of her girlfriends out last night and i will not reveal the median age, but let's say there was a seven in front of it. the first request they had for me in preparation for our interview is, i cannot figure out where anything is and what channels am i on? the organizing process needs to happen and that is going to help it a great deal as it

accelerates, but i think what we are also seeing is so many people differentiating their offerings through content. the fact that the internet has developed as such an extraordinary pace but has also become a media platform, and as it becomes a media platform, more and more players need to use video to differentiate across it. that is great for people like me who create and produce shows at a premium level. you are seeing content initiatives from verizon to comcast on the kind of pipe they do it to but the news that i watched on air around twitter's potential sale to somebody, and that could even be disney. i think it is an amazing time to be a show creator and producer and storyteller because there are so many players looking for those great stories to be told on their platforms and differentiate it.

think it is a great time to be a consumer because you have so much choice as to what you want to watch, where you watch it, and how. emily: you have a new show out. what kind of content is running the kingdom, movies, tv, digital? ben: i heard something interesting today, movies on television have become commodities and were almost the lowest rated option as you look to put something on air. traditionally, if you remember "it's a wonderful life" every thanksgiving would deliver a huge rating. lag asre was a real movies became available everywhere, but now you are seeing movies rate again on television because people recognize them and they can watch a scene or two that they responded to. -- i know thatm

turner networks just bought "star wars" which did well for them. i think it also relates to the fact that the reruns are going down in ratings, but also, it only takes you to watch six minutes of the show for the rating to count, and with a movie you see the scene you like or the moment in that show where you recognize the actor, and it .rings you a warm fuzzy feeling you may watch six minutes and go to a show that you really cared about because i think tv is t he best platform. stone"ry of "hands of required a movie. emily: then silverman. but does it for the -- "the best of bloomberg west." on monday we will hear from former twitter ceo, who will tell us about his

new venture, 6:00 p.m. eastern, 3:00 p.m. pacific. this is bloomberg. ♪

carol: whopping -- welcome to "bloomberg businessweek." i am carol massar. how computerized voting may impact the race for the white house, plus a look at all that went wrong for a visa program renewal in congress. "bloombergn businessweek." i am here with ellen pollack