with the stock at 60, you have to consider how good a job satya has done.: you held onto your shares. why have you held on to them? steve: i believe in myself. i ran a company i believed in, and guess what, it is worth a bunch. the full recognition in the marketplace of the value was not necessarily recognized during my tenure, but it is now being satya's tenure. i made a great investment by holding and i have a lot of loyalty. when i'm working at the place, if i start selling, what does that mean? it means i don't believe in the future of the company. i believe people on boards or who work for companies, at least in leadership positions, they should have to hold all their stock. emily: at what point do you think you might sell? steve: that will be a decision i get to make. the longer i get out of the company, the more it is not mine anymore, the more i look at the value of the stock, the more we are doing to publicly, which is anthropically,phil which is a big deal, these things will change. emily: we have calculated 26 billion dollars. how do you mana you

with the stock at 60, you have to consider how good a job satya has done.: you held onto your shares. why have you held on to them? steve: i believe in myself. i ran a company i believed in, and guess what, it is worth a bunch. the full recognition in the marketplace of the value was not necessarily recognized during my tenure, but it is now being recognized in satya's tenure. i made a great investment by holding and i have a lot of loyalty. when i'm working at the place, if i start selling, what does that mean? it means i don't believe in the future of the company. i believe people on boards or who work for companies, at least in leadership positions, they should have to hold all their stock. emily: at what point do you think you might sell? steve: that will be a decision i get to make. the longer i get out of the company, the more it is not mine anymore, the more i look at the value of the stock, the more we are doing philanthropically, which is a big deal, these things will change. emily: we have calculated 26 billion dollars. how do you manage your mone

and now satya nadella, my successor, is taking things to infinity and beyond if you will.mily: how do you feel being asked about your successes and your failures? what you are most proud of, what you are least proud of? steve: at this stage, i'm almost three years out. it's ancient history. did i have a lot of success? yeah. are there things i wish i had done differently? of course. i started a company that had about $2.5 million in revenue and 30 people, and i left a company that had $22 billion in profit, and i feel like net/net, pretty good success. emily: what is your relationship with bill like today? steve: we have kind of drifted apart. he has his life, and i have mine. microsoft was the thing that really bound us. we started off as friends but kind of got messed around with microsoft. since i have gone, we have drifted a little bit. emily: when you left, he left suddenly. what really happened? steve: it was definitely not a simple thing for either one of us. i think at the end of the day, probably two things -- a little bit of difference in opinion on the strategic

you see confidence from the marketplace in satya nadella and new business plan and model. it has healthy dividend investors like 2.4%. melissa: steve, speaking of satya nadella, he is one of the one that said with regard to president trump and pressure putting on companies to create jobs in the u.s., he said himself he is not nervous. he creates high-paying jobs in the u.s. do you buy that? >> i do. i think the technology industries are major, major job procedures in the united states. they produce a lot of things overseas and so much comes back in products that we produce. the other thing to keep in mind be the capital gains and dividend tax reduction, corporate tax rate reduction, they're going to have to increase the values of shares of the stocks of these companies. they will benefit tremendously from the business and capital-gains tax cut. melissa: yeah, that's true, lindsey, what do you think of that? >> no, i completely agree with that. it's definitely having trump, a pro-business guy in office, is going to benefit these tech companies tremendously and corporate ame

satya nadella continues to deliver for investors. the stock is rewarded.about the valuation now that microsoft is in growth mode? >> definitely. thank you for having us. so microsoft's a strong quarter on the back of not just the cloud business, which has been really pushing up the multiple for this stock, but really earnings came through on the other side as well. if you look through the fx noise, if you look through the linkedin acquisition, you saw microsoft core earnings growing 15%. that comes from gross margins starting to turn. you're starting to see op-excontinuing to be load. that's really what drives the stock from here on out is the earnings growth side of the equation which really came onboard last night. >> gene, let's hit some of the big political topics, certainly foreign exchange was harmful to paypal last night, has big remittance business. what are some of the trump policies? jn they got a lot of questions on border taxes, potential repatriation of foreign earnings, what do they mean for paypal and some of the other companies you follow?

. >> well, and we know that satya nadel, the ceo of microsoft, has put out a statement in the last 24sing this as well. but just to your point about this is a ban on muslims, this is a veiled sort of religious discriminatory move, the trump administration would point to the fact that turkey is not included, a muslim-majority democracy, saudi arabia is not included, indonesia, where the most muslims in the world live is not included. you say to that? >> well, it doesn't change the fact that i have an american citizen who i met today at seattle international airport whose husband left vienna, was given approval to do so, this & they stopped him after flying across the atlantic. that's just inhumane. and this is just fear operating in our country. right now i'm getting on the ferry to go to bainbridge island. bainbridge island was the first place where japanese-american citizens were interned in world war ii because our country succumbed to fear. we should not allow that happening again. we're seeing fear in action. it is going to damage our economy. it will damage our security. we've ha

first is that it's pretty clear that satya has turned around microsoft which is extremely hard to doa company that size. he may not have gotten the press he deserves for that, but it's absolutely remarkable. you can kind of see it in every product. the fact that azure is now a close number two -- well, not a close, but far away from google as the number two cloud is impressive. it's been a long time since microsoft has distanced itself from google on something. the other interesting thing is to see that google is reducing its dependence upon advertising, down from about 89% to 85% for the alphabet business. that's something people have wanted for a long time. they're starting to do that. and third is that it looks like the other bets are maybe starting to pay off where ruth prots' discipline has reduced the top line by 75%. those are three interesting things i saw, at least. >> mark, when you think about what you saw, you have microsoft becoming more and more of a cloud company by the quarter, google becoming less and less of a search company on desktop, although it's still far and a

for some like microsoft's satya nadella extremely personal, as an immigrant and ceo i've both experienced the positive impact that immigration has on our company, for the country and for the world. we will continue to advocate on this important topic. apple's ceo tim cook also responding telling his employees, i share your concerns, it is not a policy we support. other tech execs were even actively involved in the protests. for example, google co-founder who emigrated to the u.s. from the soviet union took part in protest at san francisco international airport. now, tech execs are working with trump, so it's possible they could have an impact on his thinking regarding this action. elon musk, rometty and kalanick all serve on the president's forum. kalanick will set up a fund, and for charging could have at airport while taxi drivers there sus penpended service, some cri charge uber trying to profit from that process, uber saying it had not intended breaking the strike. back to you. >> josh lipton, thank you. other ceos outside of tech are responding to the president's executive orders on