this is a company backed by andreessen horowitz and richard branson. want to bring in adam satariano who has covered clinkle for us. you wrote a big exposÉ about the problems at clinkle. there are more executives leaving. what is really going on? >> after they raised a bunch of money from an a-list of investors around silicon valley, they have been tripping around. they have had a lot of staff departures and delays in getting the product out. they even had a security breach. we read a lot about the startups as they go out the door getting a billion acquisition from facebook or google. this is the other side of the spectrum of a company that is really struggling. >> the failures or difficulties of a small company with a couple $10 million of backing is mildly interesting. i feel like this is emblematic of the era we are in. it is reminiscent of the dot com era, but also a startup with tons of big name funding that just seems so silly on its front. is there more to this than silly? >> there is an element of this easy money moment where this guy, lucas du

that is in addition to andreessen horowitz. >> one of your portfolio companies is moving to wholesaleo you think about that? >> etsy is an amazing company. it is a leader in the handmade marketplace. one million sellers making handmade goods. they are disturbing those products through the etsy website. now there is an opportunity to distribute them through retailers. the company sees their mission as supporting the sellers. >> rich wong, a partner at xl. intel is giving insight into its mobile business. cfo stacy smith joins us next to tell us all about it. ♪ >> i'm emily chang. this is "bloomberg west." we are streaming on your phone, tablet, and bloomberg.com. intel's transition is making progress. the world's largest chipmaker reported a rise in revenue. for more on its transition to mobile, i am joined by cfo stacy smith. this is the first time that intel has given out financial details in mobile. why now? >> it is how we think about our business. it is how we organize the company. what is different about our business today is that we ship to a broad range of devices. we have a ve

charlie: also one of the interesting people from silicon valley, ben horowitz from the firm andreessen horowitz. >> when we were entrepreneurs, we always felt that the best companies, including our own, were the ones run by the inventer, the people who started by the company and venture capital, at the time, was set up for the opposite. the inventer would invent and get it to a certain point then you bring in the adults who knew how to build a business. >> charlie: david brooks and ben horowitz next. >> there's a saying around here: you stand behind what you say. around here, we don't make excuses, we make commitments. and when you can't live up to them, you own up and make it right. some people think the kind of accountability that thrives on so many streets in this country has gone missing in the places where it's needed most. but i know you'll still find it, when you know where to look. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> charlie: david brooks is here, he is an op-ed columnist at the "new york times" and a regular contributo

goes around to silicon valley pitching it to people like peter teal and richard branson and andreessen horowitznd everyone does -- throws money out of it and a little bit of fear of missing out. everyone gives a little bit of money in hopes it will end up being like whatsapp. >> how did he get the meetings? did he have any kind of track record? i can understand it is something like color. it sold eight companies before that company. it did not work out, but i understand. what is so great? >> he came out of stanford and his advisor was the president of the school, john hennessy. he was in the computer science department. he was attacking a big problem, the idea of making payments with the smartphone is a compelling idea and a lot of big companies going after it. is peter teal was interesting and after he invested he cofounded paypal. other investors thought it. see theld like to investors convincing people to write checks. >> we do have the statement about andy leaving. they say we are adding users by the week and remain focused on adding products and engineering and wish him the best at future