an hour, the president addresses the white house about the terrorism summit. and to look for ways to develop executive strategies. live coverage at 10:30 eastern. national security group advisor susan rice will be concluding a summit today and we will have our remarks live starting at 5:45 today. and three nights of tech will wrap up tonight with john chambers. here is the preview. >> what you are out to see will connect these devices, think about 500 billion devices where this will go. the challenges how do you get the right information, at the right point in time to the right device to the right person, to

make the right decision. that is about transforming your business process. you have to change education and health care, turn it on its head. when you see the industry leaders, you have to have the instincts about when something fundamentally change. she is an engineer. you talk in mexico and say how does he inch -- achieve his goals inequality -- in equality? you do the same thing in germany, and france, and in the u.k.. these are very smart people. all of his remarks from the wall street journal interview can be seen tonight starting at 7:00 eastern. and programs tonight can be found on our website, at

c-span.org. discussion now on some of the cases that the supreme court will likely see this turn, from today's washington journal. we will show you as much of this as we can for starting the president's remarks at 10:30. >> president obama executive action was put on hold this week after the ruling by the federal judge in texas. it is the latest legal battle for the administration that sees as part of its legacy when it leaves office. how much will the obama administration have to look to the courts during the last two years? guest: several big issues before the court now, whether it is supreme or lower court. with the administration not likely to get much through congress, a lot of focus will be what happens in the court.

host: run down some of the legacy issues, and when we are expected to hear about them, and when cases will be argued? guest: the big one that is coming up most quickly is the big health care case, which the supreme court is hearing. they are hearing oral arguments on march 4, this is the case that challenges the subsidies that are available, that allows people to buy health insurance on the federal exchange. but question is whether the obamacare law allows for the subsidies to be available in the federal exchange, and not just in the state exchanges. that case has huge implications, because it could affect millions of people across the country who need to buy health insurance. host: climate regulations are another key issue for this

administration. where are we on this that is working its way to the courts? guest: the epa is due to finalize the rules the sheer. it is actually a preliminary court challenge challenge -- affecting -- which will be heard in april. a different environment case the supreme court is hearing in march, on mercury rules for power plants, that's another big case. host: and the argument for the gay marriage case. guest: that will be in april. that will eventually lead to a ruling in june, decide once and for all whether gay marriage is being banned in the states. host: is it unusual for the administration's to have these -- this many key priorities in its final year or two in office? guest: it is common for

administrations to have regulations and so on being challenged in the courts. it is probably unusual to have so many high profile hot button issues now in the courts immigration, health care and environment. you can't get much bigger than that. host: did you want to talk about any of these cases, who the swing votes are? republicans can call the republican line and democrats the democrat line. independence can call in on the independent line. the phone lines are open. also facebook and e-mail postings. i want to focus on the immigration action. today's washington times leader -- editorial noted the order

from the texas federal judge is an obstacle. the crucial words is -- are temporary. they will put the question to a -- to the court for a final determination as early as june. how far away are we from that? guest: that would depend on what decisions the justice department makes. i don't think they have said clearly at what they will do. one thing they can do is speak to immediately reverse that. that could lead getting it up to the supreme court quickly. host: for those who are unfamiliar could you break down the basics for us and what they are looking to reverse? guest: the federal judge issued

an injunction that prevents the program from going into effect. he says the government should have gone through a more deliberate kind of rulemaking feature, which the government did not do. the government said it did not need to, but it is clearly an issue of why ortiz -- priorities. the government can either appeal the ruling which takes months and sometimes years to finalize. or in the short term, they can try to go to the appeals court or the supreme court to immediately reverse it. pending -- host: that could be as early as june? guest: i'm much of the government will do that. host: the story in the "new york times come: --," a response to

that ruling that came out early on monday it is unclear whether the department of judge and to allow immigration to go into effect. a spokeswoman for the justice department said that no decision had been murdered -- made. she pledged to fight all the challenges to the president's actions. would you break down some of that language? guest: echoes the back to what i said earlier, they haven't said whether they will seek emergency application, which means that the court decision would not be in effect while the litigation continues. or they could do a regular appeal which would mean the injunction would stay in effect. if the litigation with struggle

back to take us up to the end of obama's term. host: if it gets as high as the supreme court looking into this do we have any idea of where the justices would fall, are there previous rulings you have look to to understand the support issues of executive action and immigration specifically? guest: the way the lower court decided this, administrative law issue. it is a question of whether the government followed the correct procedure in issue is -- in issuing this order. that makes it much near our -- narrower. there are discussions on these issues over time, whether the

agencies have dotted all the eyes and crossed all the teas -- crossed the i's and crossed the t's. host: we are talking about some of these issues, immigration executive action, health care case that is coming up, the gay marriage case and some of the climate change cases. they are working their way through the federal courts. we will start with detroit michigan, line for democrats. good morning. caller: when the president and the constitutional scholar and conservatives like ted cruz are

also constitutional scholars. does this have to be determined by the creek -- supreme court, what does this say about the constitution, how does it help us resolve the issue when people study this and they come up with such a different point of view? host: guest: it is the beauty of the constitution that differing views -- that there are differing views on the constitution. obama taught constitutional law. some might say was -- that was how the founding fathers wanted it. they came together was some kind of shared principles. even at the time, people have very divergent views on what

they constitution should mean. that is partly the supreme court's job. host: on the immigration executive action and the move by the judges week, basing his ruling on the administration -- administrative procedure. this is a gray area to draw from. there might be more room for different readings. guest: this will be about whether the government was even bound by the law. the type of action they want to take is not rulemaking, the type of action that is banned. the let -- the legal fight is really over they are bound by that. host: up next, key west, florida. line for independence. caller: it is my understanding that the affordable care act was allowed

by the supreme court based on the fact that the government at the right to tax the people. but it was taxation three. -- taxation without representation because congress did not vote on that as attacks. what happens to those people who are taxed at $95 this year, who didn't join the act this year. and somewhere between 350 and $1500 next year for those people who did not sign up. what happened to those people who do not have a return to covers that amount of money? how will they be taken care of? will they be charged for the remainder that their tax return does not cover? if so, what are the legal steps that will be taken against those people? thank you. guest: i would have to as my accountant about that one. the issue of the troll -- 2012

case where it was upheld unconstitutional grounds. although this case is focusing purely on the subsidies. host: march 4 is when we were here. any clues are what justices to watch? guest: last time around when they upheld the law, a stopping point for a lot of commentators is the fact that in that case john roberts was the conservative who sided with the liberals to uphold the law. some people might think that focus will be on the chief justice again this time. this is a different type of case.

it may bring other justices into play, including anthony kennedy who is often a swing vote in big cases. the government and lawyers will be looking at those two in particular. we will find out more on march the fourth. caller: i want to make a comment. i think it is a waste of time for the supreme court to talk about this stuff. they will legalize everything that obama wants. thank you. host: are you still with us? greensburg, the pennsylvania line for republicans. caller: good morning. the constitution, as it is written, is not open to any and all interpretation. just like the bible, it is

written in a certain way -- to be used correctly, it has to be interpreted in one way. to interpret it 100,000 different ways, you get the chaos that you find in churches. we need authority. the authority that the founding fathers said was god. it said in a label rights,. -- in alienable rights. the founding fathers would never think to say that gay people should be treated like normal human beings, and that they should be allowed to be married. that in no way would they have ever thought that is modern, stupid at its height. host: you bring up the gay

marriage case that the court is getting ready to hear. the pro-gay marriage signal seen in the u.s. supreme court action. some recent action by the supreme court. what does through what some of the signals are that you are reading. guest: the biggest one was alabama, where a federal judge again marriage ban in alabama they asked the supreme court to step in and stop it. the court said no. we will not stop it. they don't mix land themselves very well -- explain themselves very well. two of the justices object to that, scalia and thomas. host: explain a little bit more

about what is happening behind the scene in these objections. guest: clarence thomas wrote that the court's action in allowing gay marriage to go ahead in alabama and other states sends a signal that the court -- people will think the court's authority has already decided. which some people think could be the case. a couple of years ago there were 13 states with gay marriage, now there are 37. the supreme court has not issued a definitive ruling on this. host: gym waiting in florida, line for democrats. caller:

my son cannot afford to buy any insurance. is he going to get charged? he cannot have it, because he has no job and no money to pay our -- pay for any insurance. host: is your son somebody who might be able to apply for some of these subsidies? caller: we don't understand the subsidies. if he has to pay now i get it later, we can't afford to do that because we don't have any money. host: is this subsidy issue up in the air? if you can walk us through little bit more of this case. guest: the government has said the way the federal exchanges set up, they can encourage as

many people as possible to get health insurance. one of the ways the government will encourage more people to be involved in that, to provide these the subsidies which would make it more affordable to buy health insurance. just off the top of my head, government said they can get interests as low as $100 a month. with the subsidy it would be more like -- without the subsidy it would be $270. that would be a big deal for working people. they say the whole system would not work if you got rid of the subsidies, because the point -- the way insurance work is to pool risk. it would threaten the promise of what the affordable care act was trying to do. host: we have about 15 minutes

left with lawrence hurley. south plainfield, new jersey is next, line for independence. caller: my concern is that we are so polarized in this country. when you're angry you lose focus about what is right and what is wrong to we are so concerned with ourselves, that we are not thinking about the country, and progress in this country. i was in the hospital a few years ago and i had a charge for dr. i hadn't seen. when i questioned the bill, i was told the doctor was on call and had to be paid. my question was, if we had 100 people in the hospital for that weekend, is it 100 times, 100 something dollars? that raise questions. with the affordable care act, we

have opportunity for better coverage. we can be of much better nation if we just think about each other as being one. thank you very much. host: concerns about polarizing the country, perhaps no more polarized than on the days that some of these big decisions will come down. can you talk about some of your experiences as a supreme court reporter on some of these major decision days? guest: certainly, often there are a lot of people outside the courthouse on those days demonstrating, shouting and so on. usually i don't get to see much of that since i am in the courtroom, or writing my stories about the decision. there is always a certain --

when they are issuing those decision there is tension in the building. we are waiting to hear what the court will say. as reporters, we are getting ready to disseminate that information around the country. host: and the tension of being first to talk about the affordable care act, it took a little right -- a little time to get the right information out. guest: the reporters always like to be first. but you also want to be right. that's it we tried to do. host: mark is up next, hollywood, florida on the line for democrats. caller: i have a combat -- comment about not being tax for the law under the law in reference to the irs code, the filing of notices of liens and levies otherwise authorized for collection of taxes does not apply to the

collection of the penalty. the penalty for not having insurance. in addition, the status waves criminal with the requirement to maintain minimum essential coverage. however, the authority to offset refunds or credits is not limited by this position. it's like they can only take it from your withholding. host: these are some of the arguments that are part of the case. guest: the gentleman is talking about the tax penalties, as we discussed earlier, about the previous case. host: i enbridge, -- iron rich. caller: for them to force insurance and make them pay and if you don't pay, they put you in jail. my deductible is $6,000. i have to pay $6,000 before my insurance company -- i have

insurance. and i have to pay $6,000 before they will even pay anything. before this all came into effect, i could afford insurance, and the coverage was even greater and i didn't have so much deductible. ever since this has gone into effect, it is running bank accounts drive. it should be -- i think it should be eliminated. thank you. host: with his experiences in ironridge. what would it take for the courts to answer the case the question of whether this amnesty exceeds the president's authority? guest: the district court judge did not base his decision on that issue. if the government ended up

issuing a new order, and complying with everything the judge said and the judge still finds it. the presidents power, i think at the moment it leaves, the case is focused on the administrative law issue. host: it looks like this case is headed before it might get to the supreme court, to the fifth circuit court of the -- appeals. talked a little bit about why we go there and what do we know about the judge is there? guest: the fifth circuit is the regional appeals court, that hears appeals from texas. that is the next cap up from the district -- step up from the district court. it still has quite a lot of republican appointees on the court. for that reason, some people speculate that it might not be a

friendly court for the government to go to. that is one of the issues the justice department has to consider. host: some circuit courts are considered more or less friendly to this administration's opinion guest:? guest: it's simplistic way to look at it. but who appointed the judges the last six years, obama has appointed quite a lot of judges. those -- most courts have majority of democratic judges. host: are there certain certain -- certain good courts that get picked up by the supreme court? guest: sometimes not on headline-grabbing issues. but the ninth circuit, which is the west coast, usually gets a number of cases reviewed to this

up. -- set to the supreme court. some of the courts have changed in recent years, which in washington dc, a cousin hears a lot of the regulatory challenges . that is switched now from being majority republican to majority democrat. some people might say that makes it a little friendlier to the administration. host: and that has been since a lifetime of the obama administration. how many appointments did they make to that court? guest: i think he is made for appointment to that court --four appointments. i think there are either 10 or

11 judges on the court right now. obama has a decent chunk of them. there are some clinton appointees that are still there and some bush appointees. host: line for democrats, good morning. caller: this aca case from march 4. it was not adjudicated in lower courts come is that correct, not appealed up to the supreme court bush and mark guest: it was appealed up there. there was not a split in the appeals court, which is usually one of the issues that the supreme court looks at before they take a case. caller:

what is your opinion as to the rationale for hearing this case? it is a 1400 k -- page law. they seem to be stuck on a word -- state. what does it say about the roberts case? guest: there are a couple of different ways to look at it. one way of looking at it is it is a timing issue here, the challenges to this regulation have raised, if this is illegal you want to knit it in the bud before too many people rely on the subsidies. so that may have played a role in the court. >> i am pleased to share with

you, the threat posed by violent extremism has been a top priority from -- because from the day obama became the commander in chief come he's been -- he spoke at the university of cairo and he spoke and said on his watch, the united states would "relentlessly confront violent extremism is who pose a threat to our security because we reject the same thing that people of all faith reject him of the innocent killing of men women, and children." in the years since, the president has proven that he understands the best way to do that, is to protect not only the american people, but also innocent people everywhere. two were together as a global community to fight back against the violent extremism that

threatens all of us. he has spent the six years as president rebuilding america's relationship with the rest of the world. this is why he has put a premium on personal diplomacy and consistently sought to act not as the world's policeman is the world's partner. it is why, in the face of my souls rise, -- in the face of isis rise, he confronts the network, a coalition that includes more than 60 countries working along multiple lines in an effort to destroy isis. that is why understanding the scourge of violent extremism extends the on any one group your he has convened so many sectors and countries, or this international summit. he understands the we have to do a lot more to eliminate this threat, and he knows that we must do it together. ladies and gentlemen, the

president of the united states, barack obama. [applause] >> thank you very much, thank you john, good morning everyone. i want to thank john kerry, not only for the introduction, but for the outstanding leadership in american diplomacy. he is tireless. he if he is not visited your country yet, he will soon. i want to thank you and everybody here at the state department for organizing and hosting this today. mr. secretary-general distinguished guests, we are joined by representatives from governments because we all have a responsibility to ensure the security, the prosperity, the

human rights, of our systems. we are joined by leaders of civil society, including many faith leaders, because civil society, reflecting the views and voices of citizens is vital to the success of any country. i thank all of you, and i welcome all of you. we come together from more than 60 countries, from every continent. we speak different languages born of different races and ethnic groups, and belong to different religions. we are here today because we are united. we are united against the scourge of terrorism. as we speak isis is terrorizing the people of syria and iraq, and engaging in unspeakable

cruelty. the wanton murder of children. the enslavement and rape of women. threatening religious minorities with genocide, beheading hostages. isis linked terrorist murder egyptians in the sinai peninsula , and they slaughter egyptian christians in syria has shocked the world. you have the region, we have seen attacks in ottawa, sydney paris, and now copenhagen. elsewhere, israelis have endured the tragedy of terrorism for decades. pakistan taliban has mounted a long campaign of violence to the pakistani people.

and now, includes a massacre of more than 100 schoolchildren and their teachers. from somalia al-shabaab terrorists have launched attacks across d7 code. in nigeria, boko her role kills men, women, and children. i called on the international community to come together and eradicate violent extremism, and i challenge countries to come to the general assembly this fall with concrete steps that we can take together. i am grateful for all of you answering this call. yesterday we welcome community groups from the united states, and some from your countries to focus on how we can empower communities to protect their families, friends, and neighbors from ideologies and recruitment.

over the coming months, many of your countries will host summits to build on the work here, and to prepare for the general assembly. today, i want to suggest some areas where i believe we can focus on as governments. first, we must remain unwavering in our fight against terrorist organizations. in afghanistan, our coalition is focused on training and assisting afghan forces, and will continue to conduct counterterrorism against al qaeda in the tribal regions. when necessary, the u.s. will continue to take action against al qaeda affiliates in places like yemen and somalia. we will continue to work with partners to help them build up their security forces, so they can prevent ungoverned spaces where terrorists find safe haven. so they can push back against groups. in iraq and syria, a coalition

of some 60 nations including arab nations, will not relent in our mission to degrade and ultimately destroy isis. as a result of a separate -- here today many governments will be deepening our cooperation again by sharing more information, and making it harder for fighters to travel to and from syria and iraq. related to this, as i said at the united nations last fall, nations need to break the cycle of conflict, especially his sectarian conflict that have become magnets for violent extremists. in syria, a war against his own people, and stoking of sectarian tensions, helped fuel the rise of isis -- isis. it iraq, the failure of the previous government, to him --

to govern in an inclusive manner. the syrian civil war will only end when there is an inclusive political trends -- and serves people of all ethnicities and regions. across the region, the terror campaigns between sunni and shale will and when major powers address their differences through dialogue. country violent extremism begins with political civic leaders rejecting sectarian strikes. second, we have to confront the work ideologies expels like terrorists like al qaeda and isis. i discussed this at length yesterday. these terrorists are desperate

for legitimacy. all of us having responsibility to refute the notion that groups like isis somehow represent islam that is a falsehood that embraces the terrorists merited. -- narrative. we must acknowledge that groups like al qaeda and isis are deliberately targeting their propaganda to muslim communities. particularly muslim youth. scholars and clerics, therefore have a responsibility to push back, not just on twisted interpretations of islam, but also on the line that we are somehow engaged in a clash of civilizations. that america and the west are somehow at war with islam, or seek to suppress muslims. or, that we are the cause of every ill in the middle east.

that narrative extends far beyond terrorist organizations. it becomes the foundation on which terrorist know their ideology, and try to justify their violence. that's her -- that hurts all of us. there is a complicated history between the middle east, the west, and none of us, i think should be immune from criticism and terms of specific policies. but the notion that the west is at war with us is an ugly lie. all of us, regardless of our faith, have a responsibility to reject it.

at the same time, former extremists have the opportunity to speak out, speak the truth about terrorist groups. oftentimes, they can be powerful messengers. one said, this wasn't what we came for, to kill other muslims. those voices have to be amplified. governments have a role to play. at minimum is a basic first step, countries have a responsibility to cut off funding that feels hatred, and corrupts young minds and endangers us all. we need to do more to help lift up voices of tolerance, and peas --peace, especially online. that's why the u.s. is joining, for example with auae, to

create a new digital communications hub, to work with community leaders to counteract terrorist. our efforts will be led by our new core nader -- coordinator. shot hussein has agreed to serve in this new role. the united states will do more to counter hateful ideologies. i urge her nations to join us in this larger work. -- urgent work. we must address the grievances that terrorists exploit your including economic reasons. poverty alone does not cause a person to be a tavern -- terrorists.

there are billions of people who are poor, and are law-abiding and peaceful intolerant, and trying to advance their lives and the opportunities for their families. when people, especially young people feel trapped and dosh -- empowers -- impoverished countries, where there is no order a path for advancement, no educational opportunities no ways to support families, and no escape from injustice and the humiliations of corruption, that feeds instability and disorder. it makes those communities right for recruitment. we have seen it across north africa. it is more -- if we are serious about counteracting extremism we have to confront economic reasons.

here at this summit, the u.s. will make new commitments to help young people including muslim communities, to forge a new collaboration and entrepreneurship and science and technology. all our nations can reaffirm the commitment to broad-based development that creates growth and jobs. not just with a few of the top but for the money. we can step up our efforts against corruption, so a person can go about their day without having to pay a bribe. as we go forward, let's commit to expanding education including for girls. nations will not truly succeed without the contributions of their women. this requires wealthier countries to do more.

it also requires countries that are emerging and developing to develop structures of government and transparency, so that any assistance provided works and reaches people. it is a two way street. we have to address the political grievances. there is not a single, perfect causal link. it is undeniable, when people are oppressed and human rights denied political -- particularly along sectarian lines or ethnic lines when dissent is silenced, it feeds ballot extremism. it creates an environment that

is right for terrorist exploitation. when peaceful, democratic change is possible come into season to the terrorist propaganda that violence is the only answer available. we must recognize that lasting stability requires democracy. that means free elections where people can choose our future. and independent judiciary's cover that uphold the rule of law and civil -- and security forces that respect life. and it means freedom of religion when people are free to practice their faith as they choose, it helps hold diverse societies together. we have to ensure that our diverse societies truly welcome and respect people of all faith and backgrounds. leaders set the tone on this

issue. groups like al qaeda and isis pedal a light that some of our countries are hostile to muslims. we have also seen, most recently in europe, inexcusable acts of anti-semitism, or in some cases anti-muslim sentiment. when people spew hatred towards others, because of their cave -- save, it feeds into terrorists. they can never become a full part of the society in which they reside, feeds a cycle of fear and resentment. we cannot allow cycle of suspicions to tear the fabric of our country.

we all recognize the need for more dialogue. the efforts are important. what is most needed today perhaps, are more dialogues within countries. not just cross -- a cross faith but across --. terrorists thrive when different religions or sects pull away from each other, and are able to isolate each other, and label them as they as opposed to us something separate and apart. we need to build and bolster bridges of communication and trust. terrorist traffic it lies in stereotypes, about others, other religions, other ethnic groups. let's share the truth of our faith with each other. terrorists prey upon young

impressionable minds, so let's bring our youth together to promote understanding and cooperation. that is what the u.s. will do with our virtual exchange program. to connect people -- of people for dialogue. young people are taught to hate. it does not come naturally for them. we, adults, teach them. i would like to close by speaking very directly to a painful truth that brings us here today. in some countries, including the united states, muslim communities are still small relative to the entire population. as a result, many people in our countries don't always know personally someone who is muslim.

the image they get of muslims or islam is in the news. gifted -- given the news cycle, that can give a distorted impression. a lot of the bad, like terrorists who claim to speak for islam, that is absorbed by the general population. the more than one billion people who do represent islam, and our doctors and lawyers and teachers. and neighbors, and friends. we have to remember these muslim men and women, the young palestinian working to build understanding and trust with israelis, but also trying to give voice to her people's aspirations. muslim clerics working for peace

with christian pastors in nigeria. to put an end to the cycle of hate. civil society leaders in indonesia, one of the world's largest democracies. parliamentarians in indonesia working to build one of the world's newest democracies business leaders in india, with one of the world's largest muslim populations. entrepreneurs unleashing new innovations in places like malaysia. health workers fighting to save people from ebola and polio, and volunteers who go to disaster zones after a nominee or an earthquake to ease suffering and help families rebuild. muslims who are breast lives as human shields to protect churches and people come and protect christians attending mass in pakistan.

the world hears a lot about the terrorists who attacked charlie hebdo in paris. but the world has to remember the paris police officer, muslim, who died trying to stop it. the world knows about the attacks on the jews of the coaster -- kosher supermarket in paris. the worker at that market, muslim he is jewish customers. when he asked -- when he was asked when he did it he said we are brothers. we are all in the same boat. we have to help each other to get out of this crisis. distinguish guests, ladies and gentlemen, i thank you for being has -- here today. we come from different cultures and countries and different faiths but it is usual for us

to take our wisdom from the humble worker who engaged in here rollbacks under the most severe of circumstances. we are all in the same boat. in this work, you have a strong partner in me and the united states of america. thank you very much. thank you. [applause] wrapping up with president obama. he also just a conference yesterday, and is a remark from other speeches today and the last days can be found on our website, c-span.org. also at the summit at 5:45 this afternoon, national security advisor susan race will wrap things, that starts at 5:45. more from this conference from the hill this morning, john

kerry warned against only using the military to defeat terrorism. you have to take the people of the battlefield who are there today. you are kind of stupid is if all you do is that, and you don't prevent more people from going to the battlefield. he said that about 5 -- countering violent terrorism. he said people have to understand why people decide to become terrorists. that story from the hill this morning. silicon alley tech sees out -- ceo's on future innovations. the ceo of uber talks about court cases, and why they hired former david plouffe. also dallas mavericks owner mark cuban on the inspiration behind his new messaging app. and under resolute -- some of

the language may be offensive to some viewers. this is from the tech conference. >> i just explained it. when you get -- when people start to perceive you as the bigeye, you are not allowed. if you're the little guy, that is lauded, the heroic startup story. i turned up nothing into something, and for most people they call it a single.. again, as you get to a place where people perceive you as the big guy, or the man, you have to approach things differently. you have to communicate differently. we are not the area. >> we want to be there, and we

watch it get better, but those are the challenges we are facing those are the things we are improving on. >> you recently hired david plus, the former obama advisor. talk about the political war you say it is a campaign that you are running. is bringing have on creating a kinder and gentler? >> he was obama's campaign manager in 2008. he is a pretty incredible guy. the context is that we view where we are at as, there was a political campaign that was happening. we did not realize it, but there

is a political campaign in uber, with the candidates. the opposition was attacking. maybe there is some primaries going on with other folks in the ride-sharing space. but the big opponent was -- they have been giving political donations for dozens of years decades. they have been lobbying folks for them side debates -- decades. they have created a monopoly in every city for taxis. that causes problems for people who want to get around efficiently area not only that writers do not have options, but drivers also get stuck, the kiss there is no other options for a job. in new york, where a driver

releases a car for $40,000 a year, that's a taxi. it should be a bentley or something. instead, it's just a taxi. for that privilege of losing that car for $40,000 the year, he gets to be impoverished. that is because he did not have options. >> and people can't get rides. >> that is the license to own and operate a taxi. because of the artificial scarcity 13,200 50 taxis in new york. today they are -- what does david close dopl --ouffeplouffe do question --?

>> communications, branding, and strategy. >> branding, policy, and strategy. >> you can't even -- you will go to a city and say, look, even as have the wrong policy. miami, if you call to get a town car, there is a law that says that if that car comes in 15 minutes, you have to wait for 45 minutes more before you are legally allowed to enter the vehicle. if you enter the vehicle before an hour has passed, the driver can be arrested. >> you are trying to fix that? >> if you say that you want to

fix that or meet with the deputy mayor, they say that there is no meeting unless you go through this guy and this guy is a lobbyist. >> a lobbyist. it is a dirty business. >> it is terrible. >> i'm glad you hired a professional to handle that for you. [laughter] >>how much of huber do you personally own -- of uber do you personally own? >> i do not think that is appropriate to talk about here. we could talk about it later. > when you introduce >> yourself do you say that you are a billionaire >>? >> i think a lot of people know

we know that i am pretty much the same today as i was. >> i know you and you are the same. >> so you know the answer to the question. >> yeah. [laughter] you used to be one of the poorest rich people i knew. does that make sense? >> what is that mean -- does that mean? >> you made a few million dollars and you invested it all. i kind of want to see a little bit of arrogance or something i can make fun of by 10 not really getting it -- but i am not really getting it. >> i will work on that. >> two days ago i was in palo alto and called for an uber.

the driver called and said where are you going? i said a few miles and he canceled the ride. son of a bitch. i assume that he was fired. the thing about uber back in the day i would never have to deal with that shit. >> if you are to wave down a taxi in manhattan and say that i'm going to brooklyn, he is going to say it hell hell no. there is no one to complain to. we are not perfect but we strive to be. nothing happens, we encourage the feedback -- when that

happens, we encourage the feedback. >> it is against the rules to engage in old taxi behaviors? >> this is the tricky balance of this kind of business. right? we have two sets of customers. the writers and the drivers -- the riders and the drivers. in many cases something will be good for one side and bad for the other. you do something good for the drivers and the riders are upset. finding the balance is quite tricky. anytime there is a policy tweak that we do, it kind of makes news. somebody's upset. we findtry to

find the balance. ultimately, folks who are not meeting the standards should not be on the system. there is also a driver constituency that you have to be mindful of. i'm not saying that in this case it hit the line but it is part of the new and said the business -- the newuance of the business. >> you have been trained son. you are smooth. that fucker was>> i have had oatmeal i

am calmer. >> how many drivers does uber have? >> there are hundreds of thousands of partners connected to our system. >> how many do you bring on every month? >> we are in the neck of the woods of 50,000 new jobs a month created. >> how many do you deactivate every month? >> i do not have that number handy. >> you have a competitor list that is annoying because you have to sit in the front and talk and they have these mustache things. they seem to be constantly

whining that you are beating them trying to take the drivers by offering incentives. i don't hear a whole lot about their business but i hear a lot of whining. my question is, would you consider buying them, just to shut them up? please shut up, and we will buy you. >> and interesting question. i like to use -- i like to take the political analogy a little further and say, of course the opponent is the taxi cartel but there is a primary rate going on and scrapping that goes on. i think that is part of it. in terms of how mna and how uber thinks about it, uber has not acquired a single company. we are focused on the product.

we are in 45 countries and we are proud of that and part of doing that in the time frame we have done it. we have not spent time on the mna side of things. >> that was approaching an answer. that was fine. i said, would you buy them to shut them up. you said we do not buy companies. >> we are not in acquisition mode, right now. >> what you call this, a city bus? >> the uber pool. >> it is something independent of the city bus. i don't get how it would work or why anyone would use it. >> here is the idea. the idea is you push a button and the car picks you up, like normal. while you're on your way

to your destination, somebody else is going along the same route at the same time. and with less than two minutes of deviation from your routes, you go pick someone else up along the way. >> and they get in my car. >> correct. what happens is -- >> it sounds like a bus so far. >> understood. the bus you go to a corner half a mile away from you and you wait 15 minutes and sometimes it is on time and sometimes it is not. this one comes just like the uber you know. it is where you wanted, when he wanted. that is the uber. magic you still get the benefit of the bus -- that is that uber magic.

you still get the benefit of the bus. >> i know you just started with it, but to make it work you have to have a massive number of users. otherwise, it seems like it was not work -- would not work. >> if you're starting out in a city, you cannot do it. there are be a large number of people going from having routes that overlay each other at the same time and you can't do that in a small city. if you are big you can make that work. one part is liquidity. the other part is product. it has to be just right. there's a lot that can go wrong, especially if you are the second user. >> do you think you have enough liquidity to make this work in san francisco and new york? >> i think we do. i think it is

right on the edge of liquidity. >> others are doing copy cut products you are saying they will not make it work because they are so much smaller? >> i don't think that lyft copycats this particular feature. at the end of the day, liquidity is going to matter on this and it is going to -- you have to be very large to make it work. that is our sense of things. we will see how that goes. i refuse to use that service personally. >> fair enough. [laughter] i can't wait to do an uber pool and see you.

>> i don't want to go out of my way to pick up against another person. i want to go where i want to go. >> i can't wait to see you in an uber pool. you could have a perpetual ride. what is interesting is that you think about the driver income side of this, utilizing that car and getting the income up, and how that can affect prices and help bring them down. it is a big deal. our whole thing is about bringing the cost of taking an uber love the cost of owning a car. >> car many must love you talking about that -- car manufacturers must love you talking about that. the taxis want toyou dead.

they would be the kind of guys to hire someone to hurt you. and you have the ankle biter's trying to compete. who are you not fighting with? [laughter] >> the nature of the business is that it is so disruptive, so insanely disruptive, is we have to persuade them to come to the other side. >> so the answer is, almost no one. it is unbelievable to me, with all the battles and all the cities, you have won all of the battles, it seems to me. >> in the united states, we are in a good spot. we are starting to see that in europe and we are working through it. we still have a decent assist

from the city of san francisco from -- a cease and desist from the city of san francisco. there is a law passed -- california is good. >> are there any real trouble spots? >> we are not in vegas. there are a few cities like that. vegas is a big one. >> and europe, that is a train wreck. >> our business in europe is growing, faster than the u.s. at this point. >> are you subject to 250,000 euro penalties? >> there is a case in hamburg. the car originally decided we

were breaking some rule. that case got suspended. then there was another case in frankfurt which said that we were basically charging too much. >> i thought it was charging too little? >> they will get you one way or another. we were like, tell us what the price is and they will not tell us what the price should be. that is on appeal right now. >> in china, things are going well right? >> we are in five cities. aging is the fastest city -- beijing is the fastest city in terms of fastest growth. >> there are 70,000 cabs? >> that is right. >> how many does new york have?

>> 13,000. maybe folks do not know all the stuff that is going on. have? >>we are in north asia, south asia , europe. there is a lot of interesting stuff going on in china specifically. 70,000 drivers in beijing. 60,000 drivers in shanghai. you have two big taxi apps. they are in it all out war. -- in an all out war. there's this really big chinese war going on out there. >> when you say that, it makes

you think stay away from that market. you have to huge players -- two huge players and you come rolling in. howdy do you win in that environment? >> we get to be the little guy. for me, that is like homecoming. we can be the little guy and see what happens. why not try? i think you're right, there are a lot of challenges. but how much fun is it to try and see? if you can is a persevere and make it work. >> how are you going to make it work? >> what we see between these two guys -- these subsidies they

are giving rides away for free in exchange for payment accounts. what happens is, if you are smaller, they will do subsidies. usually more expensive to retain market share in that world -- it will be more expensive to retain market share in that world. there are interesting market things going on. if you are a small guy, there are things you can do if -- >> how much of the balance sheet have you your march for fighting the price for in shanghai? >> we are so small right now that it's will not cost this much to get into the game. >> every dollar you spend costs

them more because they are so much bigger? >> we are doing rideshare in one city at this point. we are finding ways to make those economics work. we start with had we make a sustainable business as part of our culture? the competitive dynamic can push you down sometimes but ultimately you have to have a sustainable business. that is part of our culture. at the end of the day, we're going to try to offer the cheapest, most reliable ride in china. on the product side, there are benefits to how uber rolsl compared to these other guyss. >> last question. i think we are double overtime. complete disregard for everyone else's time. i apologize to everyone. if uber fails if in five years,

it is just gone, what is it that will kill you? the politics? the competitors? what is your biggest threat? >> that did an interesting one. i think stress will kill me. [laughter] i think it will be the stress. it was crazy stressful -- i did not have money and i was trying to make it work. i had hundreds of thousands of nos. this is a different kind of stress. you have to find ways to find the center and balance and santa sanity. we are getting bigger and people

look at is that way. we had to find the new balance and right now, that is stressful . we are working hard to find it. >> maybe you can do pilates, or something? >> i am open to also jl suggestions. >> awesome stuff. really quick announcement. we have a couple of contests going down over the course of disrupt. if you submit a vine, we are giving away a drone tomorrow at 9 a.m. our next guest is a super genius. he is wearing green.

he is a huge deal. we have got a serial entrepreneur. he has been developing mobile for years before any of us thought it was important. >> good morning. >> thank you. >> how is it going max? >> great. >> it has been a year and you're wearing the same exact shirt as last time. dedication to the cause. >> this one is going to take a hundred years to build fully. >> mark cuban was on and the

ceo of uber. i think that makes you the poorest person. how does that make you feel? there has been a lot of talk recently about ebay divesting paypal. i wanted to know, because you know the companies better than anyone else, should ebay send paypal out? >> at some point paypal -- and by some point, i mean in the next 18 months or earlier -- paypal volume will outstrip ebay's. for all its purposes, ebay will be a division of paypal.

ebay remains a key market for paypal but ultimately it is the faster growing of the two. whatever happens, paypal must receive its full managerial attention. >> would you be willing to buy shares in paypal? >> it would depend. >> who would you pick to run it? >> there are whole bunch of people. the last person to run it after peter departed was david sachs. he ran yammer for microsoft for a while. he knows paypal. >> in the second quarter, it had a revenue of 1.9 million. do you think paypal is worth

more than twitter right now? standalone? >> i imagine it is at least a comparable level of value. >> $35 million? >> i know better than to prognosticate about public markets. >> if you had sold paypal under 2014 market conditions as opposed to two market conditions, we do have had a more successful ipo? how does look differently from the lens of the current market? >> it is an experiment you can only run once. it out today is a force to be reckoned with. an incredible juggernaut. it has one of the networks -- strongest networks possible. it is as good as brand as visa or mastercard, perhaps better.

i'm very proud of what we have accomplished. >> if you look at the $1.5 billion price that you sold it for, it is still small. it feels relatively modest. >> sure. but a decade has gone by. public markets and large s cale markets realize how permanent -- when we took paypal public, it was in question whether these internet whippersnappers were going to be around forever. jpmorgan has been around for a couple hundred years. what is going to happen to paypal? i think it is safe to say it will be around. >> do you regret the price you sold it for? >> i try to minimize regrets.

it took a lot of money to build it. >> there's a lot of talk about the bubble. there has been a rise in asset prices. do you see a correction in the public market in the last 12 months? >> hard to tell about the public markets because they're so beholden to global forces that are well outside the valley. any attempt to predict our own little -- at a macro level we live in uncertain times. russia ukraine syria isis. >> will we see a correction in the price of companies in silicon valley in the next 12

months. >> selectively yes. the market is pricing them at the very least optimistically but correctly around the kind of impact that it's might have. a bunch of other companies are not holding big problems. >> and those companies are? >> you know who they are. -- they know who they are. >> who are the superstars that you like? >> travis just came off the stage. on the one hand, it is an eye-popping valuation. in the other hand, an opportunity to disrupt market sized --

i invested very early. >> would you do it again? >> i probably would invest. >> the companies that are not as transformative, d.c. been getting a lack in the next 12 months -- do you see them getting a whack in the next 12 months? >> you think storage valuation is in line with shipping? >> i'm not familiar with their business because i'm not an investor. i perhaps should be. i think if they crack the business lending that they are

into, -- >> apple is expected to introduce a new software for their phone and watch. you think they have the acumen to handle that? do think people will use it? >> they are so secretive. for long time, there was a rumor that they were interviewing people to run their payments. that seemed like an interesting step. they are by far in the best position to make a huge -- the have the world's largest election of credit cards on file . it has never been cracked. they are a huge target. >> would you want to find some way to integrate a firm into it? >> i would love to. from what the reports have said so far, apple is going to release something like a

container for its payment methods. a firm is a payment method. we would fit right in. >> if apple came in -- did apple coming to talk to you? >> if they did, i could not tell you. they are very secretive. >> would apple tried to buy you? >> apple has not tried to buy me. >> do you have the same standard for the firm, the same far of success for your company? >> i have figured out right around the time of the slide journey that i really want to measure my successes and failures by the number of people use my products over a long.

a time. as one point there are millions of users and i felt very good about it. ultimately did not survive. to me that is a failure. i want firm to be used by millions of people long after i am done and gone. >> so you don't care the price gets at the end? >> i want hundreds of millions of users. >> you want to go public or private? >> i would want to do whatever is best for my employers and investors. >> i don't think people know it firm is. they know you but not the product. how does it work and what does it do? >> so, affirm is an attempt to

reinvest banking. we started with credit because the internet was peeling off complexity and lack of information from just about every industry and finance was hard to figure out and not transparent. it still is today. you get your credit card in the mail, evil that over and there is -- you flip it over and there is small print. why does it have to be so difficult to understand? >> hundred percent margin product in a market has hit in charges -- hidden charges. i thought to myself, things like yelp if you unwind the

complexity, you have a better business model at the end. we set off with a firm to build the future of financial -- we started with been assailed point of sales. other department store, a personal say apply for the card. you know that you will probably not get approved. you're going to get screwed. the fees are going to be bad. it is going to be atrocious. and yes, retailers do it all the time because it is a great move for retailers. it increases sales merchants are motivated to do this and they know that consumers -- what if we provided an amazing alternative that is transparent

and clean. it ultimately expands into interesting services. >>it is fairly low. compare to your credit card. if you have a balance, like six out of 10 americans, we will save you several hundred dollars. >> what is the average rate you charge a customer? >> 16 and 17%. >> the average credit card? >> for most of our customers fresh out of college probably 29.99%. one of the things we do because we are 21st century company, the

price every loan to the transaction, to the person, to the merchant. they do not count interest as a straight line. what you are borrowing and what you pay each month. the transparency part -- >> it sound like an unfunded process. >> it takes less than half a second. >> how can you look at my entire profile and life in half a second and decide what to charge me? >> as long as the rate i could charge you is good for you. we have databases and to models and can forecast your ability to prepay enter propensity of interest. a lot of the same sort of math we did with paypal. >> what are the things you look

for? and a think people understand how it works -- i don't think people understand how it works. if you're going to thatvet them, how do they know it is reasonable? >> they are not required to take it. you can fall back to their credit card. they can do ta comparison right there. the way we figure out how they are and who they are -- most important thing about the millennial generation, the social security number has been replaced with your mobile number. anything from your social media, to your phone bill is a really good way of figuring out who you are and what sort of income you have and what sort of debt you are likely to take on. that

income ratio is one of the best financial metrics we can use to figure out how likely you are to able to take care of the loan. >> how much of you announce right now -- loaned out right now. >> off the charts. i'm terrified to give you the number. given testing various parts of the products. the of settled on a simple insolvent loan with explicitly disclosed charges upfront. at this point, the merchants are seeing 30% to 40% increases. they are promoting is aggressively. >> how much have you loaned out to consumers? >> that i cannot tell you but it is in the 10 millions. >> less than 10 million? >> yes.

between one and 10. >> looking ahead 12 months, do you hit a hundred million dollars? >> yes. >> hundred million in 12 months. we will ask you again next year. >> they have to -- we look at nonattainment rates. people with super prime credit, people who choose us because of our transparency and quality of the service versus our prices, give back 100% of the time. we have not lost a penny. people who are already living poster session, go delinquent and sometimes default.

probably in the single digits. as it should be. >> last question, what is the next product? >> we like to surprise. [applause] ♪ >> a guys -- hey guys. i first learned about our next guest at a mavericks game. please welcome mark cuban. ♪ >> these are kind of comfy. take off your shoes and get comfortable. why not. i'm not going to do it.

welcome back. you are here in 2008 4 techcrunch. >> it has changed. it has grown. >> you have gone on to tv fame. to us normal people, your list of accomplishments reads like a bucket list. >> hope so. >> you built a company you bought a sports team and won a championship, and became a household tv name and dance with the stars. >> that is the best part. >> and now you are privacy expert. >> i would not call anybody a privacy expert. >> i afraid that you are such a public person that your communications would be hacked? >> i had the sec come after me and every message i e-mailed or texted they discovered it.

they greeted their own context for it. there is one part where i said i hated to lose. when they went to trial, they brought this up. it was crazy. anything you say can create its own context. from there, it was thinking about it, if you think about any e-mail or messages you sent, the minute you hit send, you lose ownership of that. whatlet you do not lose responsibility. we see that over and over again. when you use this, it never touches the hard drive. it cannot be erased and re-created. >> where do you see it fitting into a person's life? >> we are all looking for e-mail

3.0. as we look at it, people are trying to come up with a better way to filter this and that. in reality, e-mail will evolve. cyber dust will be there to replace your texting and e-mail because it is ephemeral. 30 seconds after you are done reading it, it is gone. you cannot procrastinate. this mike syrians, it has produced -- increased my e-mail productivity by 25%, 30%. -- in my experience, it has increased my e-mail productivity by 25%, 30%. it is like twitter but the only people who see it are the people who follow me. everybody sees it that most importantly, twitter has devolved into a scenario where there are so many trolls that

before we tweet anything, we have to be careful, we have to consider how someone will look at it. >> it is fun to be a troll. >> it is fun to be a troll until you are being controlled. -- trolled. this morning, i blasted out a motivational quote in the got a lot of responses. i can respond to those personally. on twitter, there's so many people who are trolls and looking for things that any of us say. people don't release the gone is the and openly. you pull all those things together and that is just a matter -- you shrink your digital footprint. cyber dust will look for new ways to shrink our digital footprint. there's so much out there that we do not remember that we sent

that can pop up when he least expected and be posted online. the other example, i have a daughter about to turn 11 years old. she is more of an adult and ithan i am. she is going to send an idiot message at some time. that dumb ass kid is going to show that's message to his buddies. >> when we were preparing for this interview and trying to get you here, you might only talk to me on cyber dust. that was kind of annoying. i would go back and try to remember. >> you are doing it wrong.

when he sent a message, if you tap on it, it spins it -- pins it. you can remember what you said. for things you have to remember, you can use e-mail. >> where do you see the app going forward from here? >> privacy commerce. twitter announced they're going to do -- you don't want to be in a position where trolls are saying why did you buy this or why did you not buy this. there's going to be a lot more privacy involved with commerce as we go forward. you are going to see us grow as a nice complement to twitter. publication is -- cyber dust is for personal communication. you will see us extend into e-mail. we have another application.

what i is it for -- use it for when you post a tweet, there is no expiration date. i can tell you more about those tweets then your significant other can, then your shrink can. we say so much about ourselves. and we just leave it there. with this app you can set expiration times so it expires in an hour, a minute, a day, a year. you can do the same thing with facebook or tumblr posts. does anyone out here still have their myspace profiles? >> i do. >> and you are still friends with what's his name? >> exactly. >> over time, your digital

profile get so big that it has a set of consequences we have not begun to consider. we are extending the platform. to shrink the digital footprint. >> switching gears. cyber dust is company number one for you? >> i have no idea. in terms of the companies i have started and run 30 plus. >> what drives you to keep founding new companies? >> business is the ultimate sport to me. dealing with the mavericks, i talked to our guys and about the

length of a game and practice. there is no sport as competitive as business. there are all these young kids trying to kick your ass. i love to kick your ass. i'm so competitive. fuck you all. i just want to win. >> why are you not based in the valley? >> there is a certain culture in the valley and a mini version of that in l.a. and a mini are version of that in new york and everywhere else. to me, as someone starting companies, i don't have a problem attracting smart people. i can extract people from here. as an investor,--we talk about

it on shark tank. if you're from stanford and have a tech degree or mba degree or design degree, if you don't have an $8 million evaluation on your startup, you are an idiot. people think there's something wrong with you. there are just as many smart people and great business opportunities in aggregate outside of the valley as inside. to me, it is the best arbitrage available. it has worked out very well for me. fomo -- fear of missing out. people their money everywhere. i invested in twitter, facebook uber. they don't tell you that

the other night i'm percent of their portfolio has failed -- they don't tell you that the other 99% of their portfolio has failed. travis and i cannot agree on valuation. he found somebody else. that is the one investment i wish i could get back. i have 20 great exits as well. >> if i were to approach you for an investment, what is something i should know about you? to get your money? >> i am very transparent with all of my companies. you should know all the companies i have invested in, what value can bring to me and why your company is going to be great.

i think a lot of people particularly in the valley, they sell themselves. they so the idea, which is ok. but then they figure that getting funding is the end-all be-all. these people agree with me, so this must be a great idea. i hate that approach. i want to know not what your exit is going to be. i want to know why your're a successful company. it makes it a lot easier to continue to fund it. >> that is a great answer. through shark tank and the private investments you have done, what is something about a page that will make your -- about a pitch that will make your eyes glaze over. >> that is easy.

we all can talk about industry, how big it is going to be. it makes it so achievable -- seem so achievable. but it takes no thought or intelligence. that is going to turn me off. >> on the flipside, what is the best way to do it? >> tell me what your core competency is and why you are great hadat it. >> that is it? >> pretty much. >> how did you get involved with shark tank. mark came to me when it was originally going to come on air. that is when abcc to me. when the case was dismissed, they came to me and said would you like to be on the show. i came on as a guest star. i did

not think the show is going to last. but the show has blown up. i came to learn, having done it and heard the response from people, that the show really is not about business. it is about aspiration and inspiration or it time the whole country that the american dream is alive and well. people and move to the american dream. in middle america where there is not a lot of money, they want to see a family from iowa that came up with a screen protector and are doing a million in sales. they can protect themselves. -- project themselves. it is the number one show watched by families.

if you have a 12-year-old sitting at home with you saying i like this idea or not i would pay that much or not that much valuation, understanding what equity is -- and, you are going to be proud of your kid when their talk about that and set of who is number one on the charts and ariana grande's latest hit. i went to see my kids be the -- we are evolving from i want to see my kids be the star quarterbacks to entrepreneurs. >> there is a theater. in the early days we had companies such as mince.

switching gears, one more time and we're going to wrap us up shortly. you recently talked about companies moving overseas to avoid u.s. taxes. what is wrong with trying to make your company more profitable? >> nothing. but you have to ask who owns your company? shareholders. i think there is a misconception. the conventional wisdom is that you buy a stock and the ultimate goal is to see the price of stock a lot. that is wrong. you want the company to increase your net worth. they are not the same. if all of a sudden they are moving overseas purely to avoid taxes, -- when one company does it eh, when it becomes a trend

and we're losing that tax revenue, who makes up the difference? we are all making up the difference. the marginal cost of our taxes go up 1% three percent now all of a sudden because this company is trying to increase their bottom line, my net worth goes down. we have to compensate for that. on the flipside, let's work on changing the tax rate, let's come up with solutions. the markets for improving profitability are very efficient. accountants and lawyers are going to find ways to work around things. it starts out as anecdotal. it turns into a filelood. when the flood his, what are you going to do then?

when a company moves overseas and takes the tax revenue with them, there is some impact on services. something has to give until the revenue is made up. it's negatively impacts the rest of us. if the tax rate goes up, they will not have as much money available to them. >> we are in this together? last question. as the owner of the mavericks, d have any advice to the new owner of the clippers? >> i e-mailed steve and told him to you cyber dust and told him he should not be so shy. he is going to have a lot of catching up to do. fans want to see an owner that eat, breathes the team.

one of the big differences between running a microsoft or any company, there are no beat reporters that have to write about you every day. there are not 20 blogs that have to come up with something every day like there are for the mavericks or clippers. everything he does is going to be recorded. it is going to be interesting to see how years is on the sidelines, whether he becomes very aware of the camera or whether -- i'm hoping he is crazy. is will give me a sidekick. >> and take the heat off you. >> i don't give a shit. if you don't like it, that is your problem. we are undefeated, i am happy. >> thank you so much for your

time. ♪>> pretty good stuff. all right. how do you guys feel about that? we are all working hard up here. how do you feel? [applause] our next panel is the main question if you are an entrepreneur or an investor? what will you be funding? please welcome omar from sequoia. jim's flap it from greylock, and danny reimer from index adventures as well as our moderator. .