emily: marc andreessen, cofounder of andreessen horowitz. bloomberg lp is the parent company of bloomberg tv and is an investor in andreessen horowitz. there is a bubble in the private sector. and we have a special focus on virtual reality innovators. we are looking at one company transporting you to a virtual world. ♪ emily: and now to the cloud. another strong quarter as it pushes further into europe. i sat down with workday ceo aneel bhusri. aneel: the marketplace for financials is about twice the size of the hr market. we are excited about the prospects. emily: on your earnings calls, your ceo said you could be profitable. why focus on growth in this current climate? aneel: our business is a once in a decade transition. we went from the shift in the 1990's, the growth in personal software -- we are in that shift again. it's basically a land grab for market share. emily: let's talk about a few competitors. oracle and sap seem to be getting a lot more competitive. they spend a lot more in marketing than workday and salesforce combined. how

andreessen horowitz investing the entire round.your entire round at an $865 million valuation because they think your promise is so big. what is the promise of mixed panels? guest: our goal is to provide data science to as many industries in the world as possible. when we raised our round, we also released our pitch. in our pitch, we articulated the problems we wanted to solve. the promise being there are a number of industries that don't do a good job of quantifying information and being data-driven. we think we can apply analytics to product, marketing, sales, and finance. emily: one of the main things you track is engagement. as opposed to just traffic. i was talking to john callahan about how well some of these companies are doing. are they seeing strong engagements? suhail: the funny thing about that is fitbit is actually a customer of ours. spotify is a customer. those companies, they are tracking exactly how people are using their applications and that what people have found on mobile is that if people are engaging with thei

read the profile on marc and -- mark andreessen. that does it for this edition.will be back tomorrow. ♪ we live in a pick and choose world. choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number...right now all beds on sale! sleepiq technology tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store. don't miss the final days of the biggest sale of the year! with the c2 queen mattress just $599.99. ends sunday! know better sleep with sleep number. ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: dave in the color is here. -- david is here. he has been called a master of the art of narrative history. he twice won the presidential prize and medal of freedom. he has written 11 books, including "1776" and "john adams." his latest is called "the wright brothers," which tells the story of two bicycle mechanics from dayton, ohio who taught the world to fly. it is great to have you. david:

mark andries and andreessen horowitz. we should mention that bloomberg lp is an investor in andreessen horowitz. coming up, maybe he is but someone else tells me there is a bubble in the private tech market. this week we have a special focus on virtual-reality innovators. coming up, an in-depth look at one company. ♪ emily: and now to the cloud, worked a reporting another strong quarter as it pushes further into europe. i sent him at this he had to check in on a reading from valuations and consolidation to the progress it's making in its >> theals vertical area marketplace is about twice the size of our hr market area and we are very excited about the prospect area. call the the earnings city could be profitable if you wanted to be, but you're going ourocus on growth area >> business is a once in a decade transition. we went from the ship from mainframe to client/server back in the 90's. we saw the growth of peoplesoft. we are not once in the decade shift again. it's basically a land grab for market share. let's talk abou

dependingsinesses are on andreessen harlot backed technology to track their own access. first, to our lead -- square plans to hold its ipo in the fourth quarter of this year according to people with knowledge of the matter. so what is interesting about this news? timing. sources tell bloomberg that it's more contingent on market conditions. either way, we have learned he has no plans to leave his job at square despite an open ceo job at the other company he founded, twitter. here to help us answer these questions is our ipo reporter and a cofounder of button, a mobile platform or that has worked in the payments industry. what do you make of the fact that square is full speed ahead? does this have more to do with market conditions despite the volatility we have seen? -- guest: right now it has more to do with market conditions. even if dorsey does not and up in the top spot, square would still go public. right now, we are going to watch market ability. the other thing to pay attention to his what the fed has to say about interest rate and whether the investor community ge

here's mark andreessen.ake a listen to this. >> one way of interpreting what's happening to apple, apple is trading at about a tenth the value that it should be at this point in time. that's an expression of risk aversion and the fear that apple investors have that the company will fall off a cliff at any moment. >> a tenth of what it deserves. >> i'll let nick talk about his "vanity fair" article when he's on. but what i will say about apple -- i was a booster of the watch. i said the watch would be great. the watch numbers were solid that came out for apple. number two compared to fitbit right now. and we have them coming out possibly to do talks in content. a major play in ads by doing ad-blocking and the only way to get ads on ios. a lot of moves coming from apple right now. >> but you think about china. that's been the source of growth, the source of people saying that will be a bigger market than the u.s. for apple. the consumption economy there, the growth of the middle class, they will be able to ove

we are on the tube emily: how marc andreessen is investing in the face of volatility across the globeemily chang. this is "bloomberg west." why the ceo of blue street says we are in a bubble. netflix says goodbye to major hollywood films like "the hunger games." all of that coming up on "bloomberg west." we start with the markets.

on the other hand i spoke with mark andreessen. he is not completely seeing through these rosy-ite glasses. he is a lot less dire about what is coming. take a listen. these are startups and some of them will work really well and some will not work at all. some environments are easier to raise money. it takes -- makes sense to prepare for environments. to me, that does not translate. into a call for everyone to panic. emily so, there is not a sense : of urgency and there is no need for everybody to panic. what do you think? >> a lot of things kill startups. aside from liquidity crunches. the wrong market, the wrong higher, the wrong team, not hitting a milestone. if we are panicking, it is all the time and it is always hard. this is another factor we cannot control that we must consider. emily chang: you helped me out with the data that shows private versus public capital. explain what we are seeing here. >> the people who are bullish on the market are also bullish on putting it in startups. this is a good place to chase. just a lot

emily: do you consult with marc andreessen?: he has been a great counselor to me and the company and he still sits on the hp board and provides a tremendous perspective. marc and a couple of other board members have fingers on what is going on in the valley. we are fortunate to be there, because we see what is going on. emily: are you glad you took him up on the offer? meg: i am glad. there were a few days when i said, "marc, what were you thinking?" it has been a tremendous experience. i think it matters what happens to these great american icons, what happens to hp in silicon valley, it matters to california. i would argue it matters to the united states and to the world. we have such a big footprint that we matter to communities around the world and that is a responsibility we have to take seriously. emily: we talked about a billion dollars in restructuring costs, $2 billion in the services area. when does cost end and restructuring end? this is a company that has been restructuring for many years, before you got here. meg:

emily: "the new yorker" article about marc andreessen, in that piece, he called bill gurley of benchmark his newman. who is your newman? do you have a newman? david: we may be each other's newman. john: i don't think about vc's very much. i like being a company that likes being a company. emily: is there competition between you guys? david: john and i come at things from very different perspectives. there are times where john is like, i do not understand what you're talking about. we will hash it through. emily: i understand disagreement can lead to better outcomes. but does it create tension? john: of course. you bring in a sas company and your are arguing with -- our partner neil is ceo of workday, one of the biggest sas companies in the world. you argue about the merits of a sas company. you bring in a social network company, you have to argue with reid or david, so that is stressful. on the other hand, do you want to play in the big leagues or not? emily: how would you rate competition for deals right now? john: it's intense at every level. emily: more competitive than ever? john: a

and why businesses are depending so heavily on andreessen

we spoke to marc andreessen about this. i want to play an excerpt.n favor of founders running these companies whenever possible. that would be great. erik: how much influence does marc andreessen have over twitter's board? tom: he's a very influential guy and they will listen to what he's has. erik: tom giles on the search for a new ceo and twitter. we are taking a quick break. we will bring you up to speed on the top headlines when we return. ♪ v unicreditonnie: considering cutting 10,000 jobs. -- unicredit considering cutting 10,000 jobs. it came out with a strategic review last year. most of these cuts will take place in italy, some in journey in some -- some in germany and some in austria. some of them, most of them will come through early retirements. erik: thank you very much. breaking news on unicredit. 10,000 jobs. this is the time of day where we do that three things you need to be watching on this trading day. tracy alloway is here and am delighted to welcome the chief investment strategist at bank of america merrill lynch. what is number o

deirdre: gary cohn refers to the marc andreessen point all of the private companies put together don'tple's valuation which reminds us that apple is all-powerful or there is, in fact, a lot of money in silicon valley. both are true? >> absolutely. if you look at what they call the unicorns, the companies that have a valuation of one billion dollars and there's 62 of those that are private venture backed right now, even those add up to facebook's valuation. we're not seeing that level of overvaluation that's going to kill the market. deirdre: and, of course, as we've been saying as well, all of the companies do have at least in the case of uber, et cetera, they have functioning business models, joe, jillian and jack, thank you for joining us. quick break to take. >>> when we come back, more on "risk & reward." we live in a world of mobile technology, but it is not the device that is mobile, it is you. ♪ >> in a statement released this morning, goldman sachs ceo lloyd announcing he's going to begin treatment for cancer, saying his form of lymphoma is highly curable, doctors expectations

we had a good interview with mark andreessen where we talked about that a lot.ike why do it now when they have the ability to do what they want in a relatively private way. >> what a strange turn that is. >> finally kara, you wrote about ellen powell this week, she wrote a piece for wee re/code, about dropping her appeal against kleiner perkins. she wrote i have a request for all companies, please don't try to silence employee who is raise discrimination and harassment concerns. instead, allow balanced and complete perspectives to come out publicly so we can all learn and improve. >> walk us through the die nam ices, why it's not going forward. >> it's costly. moving on with your life. i talked to her sensibly yesterday. she's gotten attacked online. and you know people who attack her think it's okay to call her names. but ultimately it has a toll on her family and herself. she had gone through the reddit thing. very similar topic. miss ogny was around her departure. not just misogynistic, but racist. all things on that service were problematic. there's a point

. >> we ran out of time to talk about your unbelievable re/code decode with andreessen this week.one should take a listen. great weekend to you kara, thank you. >> thank you so much. >> kara swisher of re/code. we appreciate her time. >>> coming up, make sure you tune in to this program on tuesday morning. huge first on cnbc interview. becky quick sitting down with the oracle of omaha, warren buffett. for now, rick santelli, what are you watching today? >> well we're going to drill down on all the market turbulence, i can't put that on, i'll mess my hair. we're going to drill down on market turbulence, and who caused it. field of dreams in chicago, we're building pits and traders are still here. coming up after the break. s on . but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school.

people like mark andreessen are supportive of the republican party.that plays out. donors for thege democratic party, people like mark benioff. hillary clinton has been out here number of times during this campaign so far to solicit donations and build those bridges with the tech community. cumbersome pelosi has represented that district for so long. do we get a sense of what her relationship is like with the people of the district, considering she has to fly all the way across the country just to get back and be close to them? emily: i did ask a question about that somehow stronger relationship was with the tech community who specifically issue close to? she said everyone. i know everyone. these are relationships that she has been working on for a number of years. so it will certainly be interesting to see how this particular presidential campaign plays out, given that many people like herself in the democratic party have very strong ties to san francisco in the community here. mark: emily chang joining us from san francisco. thanks. still ahead on t

it's backed by marc andreessen and marissa mayer, and she's kind of exciting. culenic. >> number two. >> 39 years old. >> yes, yes. travis started uber. i think we put him at number two. i mean, the company is not profitable, but it is one of those unicorns, actually a decacorn. it's valued at $51 billion. and they probably in this year will have $26 billion of bookings, in uber cars. and i think he's -- when you think about the impact that uber's had on our culture, you have the uber of everything now. >> having an influence in a huge way. >> you say it's going to be the year of the unicorn. >> that's right. >> please explain. >> the unicorn are companies that are valued at -- private companies that are valued at $1 billion hoar more. there are now many more decacorns which are $10 billion or more. at the beginning of the year, there were very few unicorns which is why they chose the name, because it's very unique. now there's over 100, probably 135 unicorns. so it's the funding that is out there, the frothiness, the potengs frl the bubble we're keeping our ey