alisa: i am alisa parenti and you are watching "bloomberg technology." let's start with a check of your first word news. president trump has signed executive orders today to review u.s. tax regulations and roll back dodd-frank. the president also says businesses and individuals are cut"ve "a massive tax under a package he plans to unveil next week. president trump says young immigrants shielded from deportation should rest easy. he tells the a.p. he is not after the dreamers, just criminals. supreme court justice neil gorsuch cast his first deciding vote, allowing arkansas to begin executing death row inmates by

lethal injection. he voted in line with fellow republican appointees. the house intelligence committee is relaunching its probe into russia's interference with last year's u.s. election. five key witnesses have been asked to testify including f.b.i. director james comey and national security agency director mike rogers, who will testify on may 2. former president barack obama will return to chicago on monday for his first public event since leaving office. he will hold a series of events over the next four weeks starting with a town hall style meeting with students at the university of chicago. global news 24 hours a day powered by more than 2600 journalists. i am alisa parenti and this is bloomberg. ♪ ♪ caroline: i am caroline hyde. this is "bloomberg technology." coming up, the system founders

fund partner. brian singerman joins us for a crash course in identifying big winners in the next big wave in tech. silicon valley's unicorn unveils a new ad campaign. pinterest has the pipeline to recapture public attention. apple sets its sights on deep space. we will analyze the thinking behind top executives. first to our lead. founders fund is best known for investing in companies building revolutionary technology and for its somewhat controversial founder, peter thiel. the firm has an impressive portfolio filled with tech titans like facebook and spotify.

it opened in 2005 with $50 million in funds. it is on track to generate $9.5 billion. joining us this founders fund partner brian singerman. also with us, guest host and friend of the show, david kirkpatrick in new york for us. david, i will get you asking questions. brian, tell us about your venture capital focus. you have started to up the game getting deeper into certain investments. you are a bit of a gaming man yourself. >> our strategy has been to invest in top-tier founders, regardless of sector, and go all-in on the best ones. put a huge amount of money behind the best companies. that has been the secret to our success. caroline: you went in with oculus, not as big as you could have done. what an exit, oculus being sold to facebook for a $2 billion deal announced.

f8 took over some of the news this week. vr, ar, how do you see virtual reality and augmented reality with spectrum changes? rackspace book is doing a fantastic job leading the charge for the next decade of communications. they are playing the long game buying oculus and developing new technologies. i think you will see exciting elements led by vr and ar over the next 10 years. david: david kirkpatrick here. i would be curious to hear you talk about the internet of things which sort of encompasses more these days. is that something you think about in those terms? how important do you see it to be? >> we think about it in terms of how we think about everything. it is all about the micro-company. we are sector agnostic. we do not think we need to

invest in this specific sector. we think this company is amazing. if we saw an amazing company in the internet of things sector, we would go for it. we think of it more generally. caroline: thinking about amazing companies or lack thereof, i am looking at my bloomberg u.s. barometer, the means by which we measure how active startup system is in the united states. we are measuring how much money is going into startups, the exits. how do you see the health of ipo's? do you want these companies to be coming to the market as soon as possible? >> honestly, this is not a macro question. this is a question independent for each company. at the board level, we discuss liquidity, financing, all aspects, whether to go public or stay private. it is a different decision for each company.

i do not think it has to do with the macro environment, more to do with the individual company. caroline: spotify might feel it would be helping give money to investors, helping cash and for those who founded it. why do that? >> spotify has clearly an independent strategy. maybe a lot of its investors were saying it did not need money for itself to run operations. this is a great example where there is not one right answer for every company. spotify chose the path it thinks is best for the company itself. david: given you call it founders fund and you are notoriously founder friendly, and another thing that has been a part of the industry for a long time is investing in the person, not the idea, is that another way of saying what you do? >> absolutely. a huge part of our investment decision is based on the

founding team, based on the management team. it is really important for us to have founders that are strategically, long-term visionaries as well as very execution oriented. it does not make sense to have one part without the other. when we find those elements in a team doing something important for the world, we tend to make the investment. caroline: what sort of funding rounds do you want to get in on? you are looking at earlier stages. we are seeing a plethora coming in. >> honestly, we are totally stage agnostic in the same way we are sector agnostic. i have no fear of mimissing outs an investor. when we see a company has developed and is well on its way to be one of the most important companies on the planet, we go all-in. we have the fund structure set up we can account for all of those. caroline: david, do you want to have a quick last question? david: i do. i wonder how you identify those strategic moats. you have doubled down on the number of companies including the health company, the one you made a ton of money on. that is the kind of thing everybody could say.

you seem to do it. is there any secret sauce? >> i cannot give away all of our secrets. i would be out of a job. we really do try and answer the question, can this be cloned at this point? if the answer is no and it has a phenomenal management team, we are going to go all-in. it is a really important question for us to figure out if it can be cloned at this point. caroline: the last question -- and my last question about the overall ecosystem. more and more big-ticket money is coming in from later stage investors, from institutional money. how is this making your life more difficult? is it putting off the companies from going public? does it not matter? >> i don't think this is a company by company basis. our job is to find the world's most important companies and invest in them. we have to invest in them at

some point. regardless of what the funding landscape looks like, that is what we are looking to do. i don't think it changes our job much. caroline: fascinating stuff. we will be digging into the intricacies of health and tech. brian singerman and david kirkpatrick. uber has extended its internal investigation into sexual harassment claims that the company. the investigation led by eric holder was sparked by charges of sexual harassment as well as a wider cultural problem. holder has asked the board for an additional month to complete his inquiry and has yet to conduct interviews with key figures in the investigation, including top h.r. execs. a reminder all episodes of "bloomberg technology" are live

streaming on twitter. check us out weekdays at 5:00 in new york, 2:00 in san francisco. this is bloomberg. ♪

caroline: we are back with brian singerman, partner at founders fund. brian is heavily invested in the health care system. they are all new founders fund portfolio. many are companies you have made a beeline for. a real case in point of why you're on the list of $10 billion. you went all-in on the company. what do you think about m&a at the moment and the health care sector in general

valuation-wise? we are seeing less m&a and far less etf trading. are you still bullish on the health care sector and biotech? >> i'm bullish on individual companies. it is all about the specific company. regardless of what is going on in the biotech sector, that was going to be a special company. we recognized that was a special company and went all-in. when it comes to m&a or going public, that was a strategic conversation we had at the board levels. we think we got a great outcome. it was a conversation of whether to go public or get acquired. caroline: does it seem to be you can see the synergies clearly? the drugs would get to market faster? >> there are always advantages and its advantages of each. it has a fantastic distribution

platform to get the drugs into the hands of people that need them. there's also the advantage of being independent. we determined at that time it was the right move to sell. caroline: looking at oscar health care is fascinating. not only because of what they are doing humanizing health care, but also because it was cofounded by josh kushner. how much are you looking at the health? >> we are extremely bullish on oscar. it is fundamentally fixing the health insurance industry and the state of health in america through transparency. you probably have little to no relationship with your health insurer now. oscar is trying to change that and make use of neural networks to save costs. this is regardless of the political landscape.

we are concerned about how we more effectively get health care for members. we have to adapt no matter what the politics look like. caroline: should the regulatory environment change your views of investment at any point? >> it may change the tactic but it does not change the strategy. the fortunate thing is we are building a company that has a fantastic relationship with members so we can provide the best health care possible. obviously, the regulatory environment will change tactics of the company but it does not change the strategy. caroline: how do tactics change? >> if they made it impossible to sell insurance across state lines, we would adapt to that. it impacts whether we go into different states. those things are all taken into account with policy but it does not change the long-term strategy of the company.

caroline: what about the environment in which we live, not only political and regulatory, but the pace of change? i'm fascinated by the talk of disruption and universal basic income, the need to help those about to lose their jobs to automation. are you a technology optimist or pessimist? >> i'm a world optimist. i don't to get pays to be a world pessimist. i'm an optimist on the world and humans ability to adopt. when we go to a universal basic income or something else, we will adapt as a society and human beings. i'm extremely bullish on one of our portfolio companies, airbnb. it has a nascent experience platform i'm extremely bullish on when it comes to economy 2.0. the airbnb experienced platform can give people a way to monetize their skills in a way

we have never seen before. i'm very excited about that over the next decade. caroline: you say we will adapt as humans. is it ever the responsibility of technology to help with that adaptation? is it always a regulatory, political thing? >> i think we always try to help from a technology perspective. but you are not going to be able to artificially stop it. you have to work with it and adapt with it and have technology do things that are helpful for society. humanity has to adapt along with it. that is what we are doing. caroline: you have got a lot of eyes on you because of your reputation and investments you have made, the exits you have delivered for founders fund. how do you feel startups are looking at you at the moment? there was some negative reaction to peter thiel's controversial

and sometimes unconventional viewpoints. has that changed in any way how many startups are able to get in front of you and how attractive you are as a vc? >> we are a collection of individuals. we don't always agree with each other. some of the most experience founders love that. a lot of experienced founders want to be challenged. we welcome entrepreneurs who want to experience all sorts of different viewpoints and be challenged while maintaining control. at the end of the day, it is the entrepreneurs' decision. if they want to be challenged, they should talk with us. caroline: last question, geographical in nature. who is knocking on your door? is it silicon valley, u.s.-based startups? where is the excitement coming from? what about the rest of them? >> to be honest, especially at the early stage, we are seeing them from all over the world which is very exciting. i think it makes a ton of sense to start a company elsewhere. people still may need to come to silicon valley to scale. we are fortunate to have a lot of the top-tier talent in the world in silicon valley. but where you start the company

is completely independent. we are seeing fascinating stuff coming out of europe, coming out of everywhere. caroline: hopefully, we see more geographical diversification. it has been fascinating having you here. brian singerman, partner at founders fund. a major media deal is on hold. the u.k. government delayed the decision on 21st century fox's plan to acquire the rest of sky until after elections. coming up, pinterest is trying to set itself apart from the social network is often compared to. we will dig into what is next for this startup. a quick reminder of our interactive tv function at tv on the bloomberg. you will be able to watch us live and see previous interviews and dive into any of the bloomberg functions we feature on the program. this is for subscribers only. check it out at tv . this is bloomberg. ♪

caroline: walmart's e-commerce

chief reaped an astronomical payday to the tune of $224 million in compensation last year. it was fueled by shares of stock as part of the sale of jet.com to the retail giant. it puts him well ahead of his new boss, mcmillen received a $22.5 million pay package. the retailing giant acquired jet last year in an effort to bolster its online sales. pinterest announced it is retiring the like button on its platform. the move is a step to differentiate itself from other social network platforms. it will launch its first major ad campaign. pinterest is considering advertising on billboards and in magazines. joining us in new york is david kirkpatrick. and here with us in the studio, sarah frier, who just sat down with the cofounder in a rare interview this week on the "decrypted" podcast. you got to sit down with the

executive team, the president and cofounders. tell us what you have learned. this has been a silent unicorn for silicon valley. >> contrasting with what we think of as a disruptive silicon valley founder, sometimes brash or even overbearing, these guys are nice. they are incredibly slow and steady and thoughtful. not to say the business is moving slowly. behind-the-scenes, they've done a lot to update their products. not a lot of it is stuff we see on the surface, the flashy product updates we get from social media companies. it is more with the algorithm. they want you to think of them as a search company to help you plan your life. caroline: more of a google and instagram. david, i'm sure you're interested in the subject. david: i was listening to the podcast.

there is a sort of modesty that almost comes across as a modesty of ambition. when you think about it, they are saying they want to be the google of imagery or whatever, do you think they will get there? will they retain their multibillion-dollar valuation may have been celebrated for? >> i think they have threats from all sides. google just announced soon you will be able to see shoppable images in their image search. instagram just announced you will be able to save posts that inspire you in collections. that sounds a lot like pinterest. you focus on social media, too. this is a rule of the network. the larger network sometimes wins. the biggest threat to pinterest now is they have 175 million users. that is a healthy amount but not the 600 million of instagram or the world using google. it is a threat.

caroline: i listened to the podcast this morning in the gym. what stood out in particular from some of these executives and what they refused to tell you, it does not look like it has the stellar growth we are expecting from a unicorn startup. they did not want to say growth is as start as this time last year. >> they would not answer questions about that as much and they would not talk about their eventual ipo. they said we have no plans. are you talking about it? they were like, we cannot say whether we are talking about it but we have no plans. if you look at the little pieces coming together, they are hiring a senior executive team. they are trying to clean up their vision. the advertising campaign, even opening up to a reporter like me, all of these things are things you need to do to prepare for the eventual public

offering. caroline: certainly, they confirmed they want to remain independent. it is not like they were looking for a sale. i enjoyed the podcast. david, what is your view for whether we will be seeing a pinterest ipo anytime soon? david: i think probably valuation would be the challenge with an ipo anytime soon. i will say among younger women i know, the brand loyalty to pinterest is very real, at least in the united states. i think they have a strong business. the thing that surprised me most about sarah's interviews was when they explicitly said they are not a social network. really surprising. caroline: that was a fascinating twist. thank you very much. great insight from sarah frier.

check out the "decrypted" podcast. and david kirkpatrick sticking with us. you can hear more on this week's "decrypted" podcast. ♪

alisa: i am alisa parenti and you are watching "bloomberg technology." let's start with a check of your first word news. president trump set of executive orders to review u.s. tax regulations and roll back dodd-frank. he spoke before the signings at the treasury department. president trump: we have taken unprecedented action to bring back our jobs and return power to our citizens that has been taken away. we have lifted one terrible regulation after another from the energy sector to the auto sector. we have many more to go. that will be happening over the next four to five weeks. alisa: french officials have confirmed the gunman who killed a police officer in paris last night was born in the french capital. they also say his car was loaded

with weapons. documents also found next to his body and in his car had messages which suggested support for islamic state. that group claimed responsibly for the attack. france's prime minister is dismissing criticism from marine le pen in the wake of the attack. he says the french national front party leader was exploiting the situation to score political points. >> i want to remind marine le pen that in terms of the fight against terrorism, the fight against terrorism is difficult. exaggeration is not a gauge of efficiency. she demands the engagement of secret services but fails to remind that her party voted against the antiterrorism laws. alisa: the prime minister says nothing in the investigation links immigration to the shooting. french officials plan to

increase security with the first round of the presidential election set for sunday. 11 candidates are expected to be whittled down to two before a winner takes all round on may 7. tune in to bloomberg for our special coverage. venezuelan officials say another person was killed today in a wave of anti-government protests sweeping the capital city. that brings the death toll up to at least nine. demonstrators have been marching against what they call a slide by the majuro government into authority is his him -- a and economicsm collapse. another protest is planned this weekend. they also plan to block the main roads on monday. house speaker paul ryan is leading a bipartisan congressional delegation to warsaw to meet with poland's

president and prime minister following the recent appointment of thousands of u.s. troops. in britain, queen elizabeth's 91st earth day was celebrated today with gun salutes as the monarch celebrated whiteley at -- celebrated quietly at home. global news 24 hours a day powered by more than 2600 journalists in more than 120 countries. i am alisa parenti and this is bloomberg. ♪ caroline: this is "bloomberg technology." i am caroline hyde. earnings season is underway with tech giants reporting numbers this week. joining us is brad stone and still with us is david kirkpatrick. i'm looking ahead to next week. alphabet, amazon, twitter.

what about the earnings season thus far? ibm fell 5% over the week. not much movement from netflix. do you feel as much anticipation? >> next week things get started. this week consider it a preview. netflix very interesting. user growth below estimates. netflix said they did not have the big production like "house of cards" this order to boost membership numbers. but net profits were up. when they do not have a new show, it looks like a tech company. when they do have a new show, it looks like a media company. invest ors do not quite know what to make of it. caroline: netflix seems to be a bit like amazon in that it does splurge for future revenue. did anything stand out in terms of this week's earnings? >> a little stumble hurts a lot in a company valued at $60 billion. for a media company, that is a huge valuation. netflix is a conventional media

company that figured out the internet earlier than the others. the others are figuring out the internet. in my opinion long-term, you're probably going to see netflix seem more in conjunction with companies like time warner and comcast and disney than compared to facebook or google, which has been its history up to now. caroline: its price to earnings is $187 according to the bloomberg terminal. that is something to keep an eye on. no wonder they are so sensitive to its numbers and how they come out. let's talk about f8. that really captured the imagination in silicon valley. we heard from facebook the next big bet being on virtual reality. we also heard about being able to understand words through your skin and mind reading. >> the augmented reality thing, a lot of people resist making the comparison to snap and what it has been doing with augmented reality. i consider it to be the

pokemon-go-ification of the world. can we bring these digital wonders to our phones, overlay it with reality, and come up with new solutions? zuckerberg is competitive. he's going were snap is. with the skin connectivity, there is a goal to create a long-term vision that could inspire investors and customers. caroline: and developers. david, you have written the book on facebook. what do you think of f8? >> i think with facebook, i have followed them so long and so closely and seen them do things so many times that people thought they would not be able to do. on the augmented reality, i think it is the right move for them. i think it is smart they are talking about that more and virtual reality less, even though they bought oculus. in the long run, augmented reality is what solves a lot of the biggest problems.

if you think about the letter zuckerberg wrote a month or so ago about how he wants to be the community for the world, the reason it is so hard for him to do it is because it is all virtual. virtual takes us away from the real world. augmented reality has the potential to blend it together. >> do you think facebook or any tech company needs glasses to make augmented reality real? why do we want to look down at our phones to understand the real world around us? isn't that why pokemon go fizzled out? >> that is a great question. we don't have the interface for augmented reality. do i think we will have it? yes. do we know what it is? no. do i want to have big glasses on my face? no. that does not mean there is not a way for a clever innovator to come up with a new combination of technologies. it's happens time and time again. i think it is so clear augmented reality is what we want and need. i'm just waiting for somebody to invent the interface.

caroline: what we want and need apparently came to light this week as well. what we don't need is a $400 juicer. this was such a great scoop, brad. >> thank them for squeezing such joy into our lives this week. the company has raised more than $100 million to create a connected juicer. what they demonstrated in the video is you squeeze bags of juice and get a nice glass of fruit and vegetable juice without the expensive device. the c.e.o. responded somewhat defensively. people had a lot of fun with it. perhaps because it reveals a little of the ridiculousness of silicon valley at its worst. it is not solving problems for regular people. it is coming up with high-priced solutions for a high-priced lifestyle. caroline: these were not just any venture capitalists that backed this company. we saw a lot of money being spent. do you think this is a sign of concern or just a one-off bad

bet? >> i think there is concern. there is another well-known venture capitalist in new york. he wrote a column this week about how there is a top happening in venture capital. there is a lot of money sloshing around and there are not that many good investments. partly because most cool innovations do not require as much money to develop as they used to. everybody thinks venture capital and tech is where they want to make big bucks returns are poor elsewhere. i think this is a classic case of too much money going to the wrong person. these people have offered their money back to the customers. they should not have gotten money from these people. caroline: a great scoop from bloomberg. thank you very much, brad stone.

and david kirkpatrick sticking with me. in global news, french voters may decide europe's future this weekend as the presidential election has turned into a four-way race. investors predict macron will come out on top in the first round of voting. in 2016, we spoke to the then economy minister about the evolving tech scene in the country. >> innovation is part of the french economy. in the past, we did not convert the synergy into business. i think there is a new generation now that is much more pro-business and bolstered by creating startups. caroline: a special programming note. this sunday on bloomberg television and radio, special coverage of the first round of the french presidential election live from paris, london, and new york. we will also have the latest market reactions from london and

new york. coming up, after revolutionizing phones and exploring augmented reality, apple may now be looking toward space. more on that story next. this is bloomberg. ♪

caroline: in this edition of out of this world, apple may be looking to the sky. the iphone maker recruited top google executives for a new hardware team. it could be a potential move by the tech giant into the move of satellite design and operations. big tech companies are looking

to connect billions of people without internet access by providing broadband access through satellites. joining us to discuss, mark gurman and my guest cohost for the hour, david kirkpatrick. great story you worked together on. what is the desire? is it all about satellites? >> apple is looking into all sorts of new areas. ar, cars. we covered all of this. we are dropping into a new space will focus attention on. the sky, space. apple hired two of the leading experts in satellite hardware technology, both from google. they worked at a company called skybox earlier and produced satellites as well. we are not 100% clear on what apple will be doing the space. now they have a hardware team with two of the best in that space. we will see what they are up to. caroline: david, get in here.

david: when you hired gurman, they called him a scoop machine. he keeps turning out amazing stories about apple. i think it makes sense because apple has this extraordinary valuation and resource of capital. they are basically a rich people's product company. the real growth opportunity to make them go to the moon is if they can go global and get everybody or make it possible for literally anyone to buy an apple product, which is not true in most countries. if they can provide satellite internet access at a speed comparable to what we have with cellular, that is a huge thing. my gosh they could sell special , devices for people in botswana that would use that and those people would buy it. >> right. the applications are enormous. they can put internet around the world. they can use it for their self-driving car efforts. if they need to send information

to ar glasses, they can do that from satellites, too. it is critical for apple because they are trying to play in so many different fields. another cool thing would be if they are wanting to develop drones or other stuff to send people high in the air or take pictures from the air. that would be cool. i'm sure he would be will one of the first to get an apple satellite. david: i love the idea for using it for their car business that does not exist. maybe you will tell us about that next week. don't you think the developing world has got to be one of their top priorities? >> absolutely. part of what is holding back iphone penetration in other countries is they don't have the penetration of lte and faster networks the iphones take advantage of and need to function. if apple could speed that up, it

could get people to buy more hardware in those countries and start replacing carriers and networks around the world. apple always likes to add more of itself into its products. we saw that with chips. we saw them taking over graphics processors recently. we see them doing more for the car and ar. going after the internet and wireless networking is on their list. they are looking at everything and anything to take over the world. caroline: telecoms, look out. what an interesting potential team up with boeing? could this be a joint venture we see? >> this as part of their attempt to look at new businesses. apple has so much cash and were in talks with boeing on satellites. if it does not work out with apple to build their own, maybe it will work out with funding. they like to look at other companies before they jump into those spaces.

apple gave $1 billion to accompany to grow across asia. now apple is looking at self-driving car technology of their own. it could be a similar approach if they invest in boeing and jump in with their own technology in the future. to be clear, we are not 100% clear what apple will be doing with the new hardware team. we do know it is a new hardware team with two of the world's leading satellite experts. they will definitely be cooking up something that will become clear in the future. caroline: david, the most valuable company in the world. does the growth potential mean they will remain such? david: i have historically been skeptical. i'm starting to change my tune and think maybe apple still has moon to go towards.

boeings market cap, apple could buy boeing and still have half of its cash left over. the company has amazing opportunities. >> to add to that, one of the most amazing things i discovered is when they are developing new products, they don't take that many resources from other teams. they build up these teams. we had a story on the ar team. a bunch of outside hires. the apple car and watch. and space exploration. they are adding to the categories of technology. caroline: we know mark gurman will be here and breaking it all for you. david kirkpatrick, brilliant to have you with me on this friday. snap has reportedly signed a deal to get its hands on photo filters based on locations. the parent company obtained a patent for $7.7 billion. according to the filing for the ipo of snap, $361 million in revenues is made by selling geo filters to advertisers. the purchase could give them

leverage against facebook. coming up, more than one million people are expected to participate in earth day events on saturday. we will explore how one of the biggest tech companies on the planet is pushing its own agenda. this is bloomberg. ♪

caroline: ricoh, the maker of printers and copiers, has joined companies such as apple and google pledging to get all of its power from renewable sources. the process will be slow. the company announced clean energy will comprise 30% of the electricity it uses by 2030 and 100% by 2050. ahead of earth day, apple has released a new report detailing initiatives to become more sustainable. apple's pairing 96% of its operations with renewable energy and thinking outside the box

keep the initiative going. it purchased more than 300,000 acres of forest hoping to reach its goal of covering all its packaging needs. lisa jackson spoke to david gura about the company's carbon footprint and the china forest project. >> apple looked at it and said our carbon footprint is 38 million metric tons a year. that is more than some small countries. if you look at it in the world, it averages less than .1% a day of what the world does. one of the things we also say is we cannot change the world and deal with climate change if all you do is make yourself green. apple is about innovation. apple is about being the first to something. when we find something, the idea

is how we can help suppliers get green. how we can help customers feel good about the clean energy they may be able to access and we are accessing on their behalf for stuff like facetime or when you send an i-message knowing that is running through a data center running on clean energy. you are part of it. >> what is your message to companies thinking about doing things differently. i know apple has a forest in china. that must have been an off-the-wall idea. give me an update on why you have the forest, the status of that, if we could see something like that elsewhere. more broadly speaking, how you agitate for change like that in a company like apple. >> the forest came from a conversation with a group of women. one of the women said, why don't we buy a forest? we use wood pulp to make paper for apple packaging. we want it to be sustainably sourced material.

that is when i knew i was somewhere new because that kind of innovation and moonshot idea is classic for silicon valley, to go back to first principles and ask a question. that is what gets me up every morning. i get to do it for things i am passionate about like the environment. that has evolved into finding a partner. the china world wildlife fund. in the u.s., we do it with the conservation fund. they are purchasing and protecting working forests on the east coast and china and setting the land aside to be worked and managed sustainably. we can now say because of the project in china about to be certified, we are covering our paper footprint with the forest we have set aside.

they will always be working forests which means people have jobs but you also have the environmental protection of a beautiful place important for clean air and water and climate change. it is great. what i would say to other companies? there are so many companies in this space that may not always talk about it. it is pretty inspiring. i would say the moonshots are really important. thing that inspires the folks at apple inspire everyone. don't pick something insurmountable. pick something big and interesting. let's work on that while you are getting everything else in order. do what you have to do. what we can do as a business is find solutions that make you go, "it used to be impossible and now it is just the way we do business." caroline: that was apple v.p. lisa jackson. we have a great lineup of guests next week. you do not want to miss it.

check it out. this is bloomberg. ♪

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