but first, here is an introduction to the booming business that is baidu.a is one of the fastest- growing economies and tech industries.

but first, here is an introduction to the booming business that is baidu. is one of the fastest- growing economies and tech industries.

. >> welcome to a "bloomberg west" special, "the baidu billionaire: inside the google of china."mily chang. over the next half-hour, i sit down with the baidu cofounder, robin li, for a rare, exclusive and wide-ranging interview. we will talk about how he built baidu into china's largest search engine, and the challenges in a country with censorship. his relationship with tech icons like mark zuckerberg and bill gates and what he thinks about apple. but first, here is an

. >> his friends and family says his devotion to baidu the finds him.s been noted for falling asleep in his car after work. he has also picked up some influential friends along the way like bill gates, alibaba, and a few enemies, too. >> they are competitors. in 2004, larry page and sergei brin went to visit. baidu with careful not to reveal too much. >> regardless of how he is seen, li is worth $12 billion. he came above eric schmidt on the billionaire list more than two decades after he invented his own brand of search. when i sat down with him i asked how he spent his aliens. take a look at what he said about the difference of philanthropy in the united states versus china. >> it's not as mature. i have seen them start to think about that. we increasingly spend more time to do philanthropy work. we held a banquet where we used 56 million rmb. we provide certain inventories, so it is relatively easy to risk money in china. >> are there any causes you are particularly passionate about or you give your own money to? >> my passion is related to internet.

baidu one of the big winners this year up about 70% year to date. >> all right., and tensions rising between amazon and ups over their christmas delivery debacle. our dominic chu was a victim. he has the latest on the whereabouts of his christmas gift and xbox one. but first to josh lipton in san jose. josh? >> yeah. tyler, amazon made a lot of promises that ups apparently couldn't keep but did ups have advanced warning. that's next. >> the second chapter of my sad, sad christmas story with my xbox 1. it has a happy ending. keep it here on "power lunch." we'll be back in two minutes. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms

china bandspread coy how will we survive treat the mainstream media well in fact baidu the e bay of china. but it was only ever one of these many subsidiaries which is big and that was for one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallet. what defines a country's success. faceless figures of economic growth. standard of living. of course my health isn't what it used to be before i was but i'm trying to get back in shape right now i'm trying to get as fit as a special forces officer is supposed to be. i'm preparing my family and friends for the idea that i'm not going to resign i tried to explain to them there's no one who's ever going to take my place on the missions we. just have to learn the lesson of my wound. in listed in the army at the age of eighteen i was at college then. finishing my first year i left when my summer examinations were in full swing and went to a suspects not seen it before. you know i'm fully aware of what happened and what could have happened in that battle i've long si

baidu said no way. it plunged in one day. i could buy one in one hour. >> are you going to buy one? >> on the show. i have a guy. >> all legal and above board? right. we will look forward to that. you are buying one bitcoin? >> one bitcoin for $800. >> we will be back when he buys bitcoin. we have a great program ahead. scott from virginia is in the loop. we will talk about healthcare.gov. did he sign on for obamacare? and scandal -- what does this say for not -- nigella lawson? and also the toronto mayor, tom ford? we are just getting started on this monday morning. ♪ >> it is deadline day for members of congress. they need to enroll under obamacare by the end of the day, are they risk losing their government subsidy. is with us, and also peter cook has more on healthcare.gov. as lawmakers are asked to enroll, some are having trouble. including john boehner. >> they have had some problems signing up for health care. they had to do it by the end of the day today. members of congress are facing the same technical glitches and sticker shock as they are retired -- required to drop thei

baidu suspended payment of bitcoin. we decided to celebrate the 12 days right here.t miller try to buy one last week. it did not go so well. max is the first one that recommended to me. either you have to wait four days which seemed a long amount of time to get started or you have to give them everything like bank account details, credit card details, visa, social security. i felt uncomfortable giving that kind of information. the whole point of me getting a tcoi is so that i can move my life off the grid and get away from big brother and move into the mountains. >> is that the point? >> i am really doing it because my boss told me to. it is a great idea. ?> you do not have bitcoin >> i do not. over the week when i was using a local one to try to find other people. we could never meet up. $1200. asking for like last night i called up max. " no problem, i'll have one in 10 minutes." >> you have bitcoin. >> he is. i personally do not own very many. i called up a guy. >> he bought more than one. >> i just bought one format. >> matt the guy has his guy who sold them a bi

like -- an internet companies like baidu. the rollout in 4g will benefit in many areas in the industry. thank you. and branching into europe. it is a company that is part of a group. caroline hyde went to take a look at the brand-new store to officer chief executive of the american retailer. what was the store like? very shiny and new of course. it opens this or is today at 8:30 a.m. -- a later today at 8:30 a.m. it is a plethora of stores operating -- offering new homework. you have got pop-up installations. fantastic. christmas decorations, obviously. it is huge. they have a plan as part of its decoration. as part of its decoration. actually.xy i wanted nearly everything. they had syrup as well. what is interesting is another company wanting to move into europe and using london as a hub to do it. it is a gateway to all of europe. we are here. launch a store and looking for other locations for branch. we will support all of our brands with fully integrated e- commerce. penetration online. >> yes. the way we have grown all of

company headlines -- bitcoin lost a fifth of its value after baidu stopped taking the virtual money.comes after the central ned. ban it said that it is not currency with real meaning and cannot enjoy the same legal status. suntory beverages says it will take a break from m&a for 12 months. it wants to boost its current businesses to catch up with bigger rival coke. it's next focus will be on vietnam and indonesia. most -- qbeng the is plunging the most in 12 years. the company now sees a loss of $215 million. analysts had forecast a profit of over $1 billion. premiums in north america fell 16% in the first half. >> the global bakery market will reach more than $400 billion by 2017. the asia-pacific is enjoying perhaps the highest annual growth here as well. martha swift, thank you for joining us. what brings you to this part of the world? >> i am exploring the asian market. i've been to singapore before and i have come to hong kong for the first time. i absolutely love it. and i think this is a big growth area for cupcakes and cakes, such as i have done in london. >> there is a marke

baidu we keep getting sick i asked during one of our many visits? what are redoing wrong? this is normal she said as she said on average they get between eight and 10 calls per year. eight per year? per child? it was absurd but yet consistent with everything we had experienced when we got home we did the math. on average your kid has to be home from school one day per illness others could not out your kid for a week that is nine days per kid per year. but if you have two kids and 960 dash six days overlap then an average of 13 or 14 days off per year to be home with a sick kid. of course, it does not include the days when the parent is sick and no matter how many smithies you drink for a breakfast you're bound to get whatever is keeping him awake my rule was to never take a sick day for myself a masai was rolling up my sniffles carter's some sympathy or this the guy from others why do expose us to your germs they wanted to say and i wanted to reply i cannot afford to take a sick day. this was a silent conversation we carried out time and time again. often when one of the k

bitcoin only molly china bans bitcoin how will we survive treat the mainstream media well in fact baidu the e bay of china and the longer it was but calling but it was only ever one of buy these many subsidiaries which is the bitcoin and that was just for one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallet see that six hundred twenty seven point eight three pounds. john also announced a ban on financial firms transacting and bitcoin the government will treat but coined not as a currency but as a commodity. and as such individuals and companies are free to set up and going exchanges and transact bitcoin the government wants so ever that they are on their own to try to move as much of that work as you went out of the country as they possibly can imagine that the government will not take on the risks of individuals and corporations how indeed will we serve low lives to see that yes max well when this announcement came from china of course the price of between did plummet quite a bit on the exchanges

like baidu suspended accepting payments.much focus, matt miller went to find out what one can actually do with a bitcoin. >> the incredible volatility of missed lastd not be week. the price shot up to more than $1200 and dropped to $600 momentarily. we thought because of that and the media attention we should do something to really figure out what this is and how it works. theame up with the idea of 12 days of bitcoin. i will do something else every day. boughtthe first day, i one. it was more difficult. i went to a number of sites. blockchain.info. i had an a month issue. the each time, i had an issue. i would have to enter too much information that i do not feel comfortable with. i needed to have a visa card and i only use mastercard. ofh local bitcoin, a lot people who advertise bitcoin for a lower price than they were willing to sell when you actually gotten their or do not have any. want to people do not let go. they are not easy to get. a bitcoin veryot easily by finding someone who had a one who was a buddy. cashave m

marking point out the ongoing government anti corruption campaign completed in less time high and baidu market don't go wake up next to money matters were top notch up the look you want. they can't. for don't stop with a friend to me but that's one area the world. london irish will make the ideal program tricky to make a good one. each airport to contribute one third one out of her friends among them chuckle a few drops out of the most famous wine the world. if we deny it to nick about nine vintage look the part that here the ninety two to win game for international wine market to distinguish between the great and the quilters most of that. look the wind of the way the uber rich chinese individuals the bordeaux wine bureau announced that it doesn't and that i know will the first time to pack in germany the largest export market for bordeaux wine the import of wine on a one quarter of china's market. cover behind is the chaotic in the one that the market in china. why can't function in the best opportunity for hundreds of years outside of china. in other countries that already become a m

oh my god baidu no longer it says big clearly holy moley china bandspread cooling how will we survive treat the mainstream media well in fact by due the e bay of china no longer exists because it was only ever one of by these many subsidiaries which is the big oil and that was for one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallets. we are the problem we in the west of the problem especially the united states government so it really is quite ridiculous that we get manipulated into saying oh we have to take care of this problem over there the problem is in our own backyard and we know that is. what defines a country's success. faceless figures of economic growth. or a factual standard of living. coming up on r t the bureau of alcohol tobacco and firearms is the target of an investigation this month news reports reveal agents took advantage of mentally disabled bed for sting operations only to have them face jail time after work we'll tell you more about this abusive practice. and major tech com

between holy moley china bandspread cohen how will we survive shrink the mainstream media well in fact baidu the e bay of china no longer. it was because but it was only ever one of bodies many subsidiaries which is a big claim and that was one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallets. please . the the. over the past few months we've learned that the n.s.a. spied on everyone from brazilian oil company executives to german chancellor angela merkel but now a whole new group of people have to worry about being targeted by the spy agency. that's right the newest leaked documents show that the n.s.a. along with its british counterpart g c h q had been monitoring the end game communications of people playing world of warcraft and second life why cause terrorism yes according to a two thousand and eight document titled exploiting terrorists use of games in virtual environments that as they call these virtual playgrounds quote target rich communication networks where terrorists can hide in plain sight

could only lowly china bandspread could how will we survive shrink the mainstream media well in fact baidu the e bay of china and the longer it was because i but it was only ever one of by these many subsidiaries which is bitcoin and that was just for one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallet see that six hundred twenty seven point eight three pounds china also announced.

oh my god baidu no longer it says clearly. china. how will we survive the mainstream media well in fact by do that. but it was only ever one of many subsidiaries which is the big. one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallet. police in the ukrainian capital of peacefully dismantling barricades are moving protests off the streets to allow traffic through but the move triggered a mascara among the opposition that a crackdown was on the way we go live to kiev shortly. jailed pussy riot members greenpeace activists and file. those in trouble with the law could soon be set free agency of an amnesty bill penned by president vladimir putin. and the n.s.a. apparently invent a new approach to playing games and work as if agents lead a double life among all. creatures and the online gaming world our top stories this hour.

clearly holy moley china bandspread coy how will we survive shrake the mainstream media well in fact baidu the e bay of china no longer exists but call it but it was only ever one of bodies many subsidiaries which is the big oil and that was for one samsung product for several weeks and those weeks only one point three seven bit cleaner ever sent to buy do look here this is their wallets. torch is on its epic journey to such a. one hundred twenty three days. through two hundred cities of russia. really fourteen thousand people or sixty thousand killings. in a record setting trip by land air sea and others face. olympic torch relay. on r t r two dot com. over the past few months we've learned that the n.s.a. spies on everyone from brazilian oil company executives to german chancellor angela merkel but now a whole new group of people have to worry about being targeted by the spying agency . that's right the newest leaked documents show that the n.s.c. . along with its british counterpart g c h q had been monitoring the in game communications of people playing world of warcraft in second life

just days after china moved from using digital currency and after baidu stopped accepting it, reports say that a number of other chinese vendors are no longer taking bitcoins. is this a sign that the vendor is about to pop? this segment is going to be called fast bitcoin. joining us now is bobby lee, ceo of the country's largest bitcoin exchange. great to speak with you. >> thank you for having me on again. >> a lot of proponents will say that acceptance is key to the story in terms of it being a value that will go up, will appreciate. and here we are formal knock down of acceptance from the regulatory bodies in china. what do you make of this? is this a ceiling on bit coin's value? >> the authorities put out a communication that bitcoin can no longer be regarded as a currency in china. so instead, financial institutions and banks are not allowed to do business with bitcoin because it's not a currency. >> they talk ability bitcoin so that legitimizes it? >> no, no. bit coin buying and selling is okay for the chinese people. >> okay. >> so websites are allowed to continue to service cu

and you have your chinese versions, baidu and whatnot. and i think that is the challenge they face. think it's terrifying. and by the way, i wish them well. when i talk to people sometimes, i don't use the word china. prefer so use the term won six of humanity. xth of term one-si humanity. how they make the transition from where they are now to a more open and consensual society will affect everything from the quality of the air we breathe to the value of the currency in our pockets, to the cost of the shoes on her feet. so i wish them well. >> how do you incorporate terms of freedom of expression and equal rights and drawing redlines? how do you apply that policy here and how do you put apply that policy there? and thated to dictate failed. it's not what happened. so we have to come to terms with the fact that it will happen at their own pace. the point i try to make in writing about the trust issue is china'sething that readership hasn't -- china's leadership has a realized -- the world went from connected to hyper connected. and it did, three things are happening at the same time

i think that we got to stay away from that group with the exception is of baidu, which i like, and ali which is why i still like yahoo! even up here. yes, i still like it. stop tweeting and asking me if i like it, i still like it. vince in texas? >> caller: dallas, texas booyah to you. >> well, you've got to be better than vince young who was for the eagles. >> caller: absolutely. a question about canadian solar. i was wondering about the solar market right now with it being a little oversupplied. >> we're in solar, but we are in first solar. first solar broke out today. holy cow, we had management on last week. i think that they're really terrific. let's not fool around with the canadian version. let's go with the first version, first solar. first solar. what's white and red and heating up? o canada. you need to be in on the action. we need to see who makes the canadian playoffs after we look at the quarters. that's how we play them. don't move. lightning round is next. >> announcer: lightning round is sponsored by td ameritrade. >> it is time. it is time for the lightning round. you

if you got in at the ipo level back in 2005 for baidu you would have a gain of over 6,000%. what do chinese stocks here in the states hold for us. >> more ipos. they have been successful in the second half of the year. look what's coming here. i did some research here. you all know about the big internet e commerce, alibaba. 360buy.com is coming. vancl, also likely to come within the next few months. and i-kang, likely coming. why are we doing it? why are we coming now? because look was been going on. people are waking up to the fact that once again massive growth potential in china. transparency issues we had a year ago haven't gone away but there's less concern about them recently. and we're getting big backing from major investors out there. goldman sachs is a backer of i-kang. these are companies backing them. recent ipos performed very well. justin last month, chinese poiz, 500.com up 168%. autohome, sungy mobile, qunal all up. these companies have only been public for a couple of months in the u.s. success begets more success. >> incredible returns. bob don't go anywhe

. >> and you have your chinese versions, baidu and whatnot.nd i think that is the challenge they face. i think it's terrifying. and by the way, i wish them well. when i talk to people sometimes, i don't use the word china. prefer so use the term one-sixth of humanity. we are talking about 1/6 of humanity. transition make the between where they are now to a more open and consensual society will affect everything, from the quality of the air we breathe to the value of the currency in our pockets to the cost of the shoes on her feet. so i wish them well. >> how do you incorporate terms of freedom of expression and equal rights and drawing redlines? that gets tricky if you look and say, how do you apply that policy here and there? >> we tried to dictate and that failed. the president used to go with a list of political prisoners. it's not going to happen. so we have to come to terms with the fact that it will happen at their own pace. the point i try to make in writing about the trust issue is that something that china's leadership has realized --

baidu, so fun, yuku. >> you know -- >> what's not to like?josh, insightful, really bright, three etfs in the playbook, i have to check the rule. there's 25 names in there. i bet ten of them -- ten of the names are -- no, sear yusly. seriously. check the rule back, is this about making money or about informing -- >> let's talk about the particular etf. the problem with the chinese companies, 10 probably won't be a part of the portfolio next year. >> why? >> why? i went over there, we had a lot of portfolio companies over there. i still don't trust the numbers they're doing there. the accounting sucks. and i really don't trust the numbers. >> -- on the new york stock exchange, they conform to our rules, and 70% of this portfolio are larger mega cap stocks, it's not what you're referring to. these are companies that conform to nasdaq listing, and they're earning so much money, it's almost embarrassing, versus u.s. social media. >> and pick two adrs non-etf. >> how about we pick something where money is going, and not get caught up -- >> josh, th

if you own one baidu is a higher quality play in this space. >> everyone waiting for the ali baba if how about this, 2013 a great year for just about everyone in the market. but next year might be more of a challenge. is the best way to make money to go against the grain? we're asking our traders to go out on a limb, give us their top contrarian plays for 2014. so let's go to carter first. what's the best idea you have for going against the grain? >> you have to go against the very crowded trade in japan. basically, this is a door at this point. now they are all on one side from what we can see. we would say this is time to lighten up. >> fade the nikkei. >> great way. >> how about you, josh brown? >> i'm on the other side of that. i think that global growth, while people are dancing around it and thinking about it, the big contrarian play is that that's going to help the commodity producers, so i like vaw. this is about 65% chemical stocks. 35% mining and metals, nobody is actually buying the stocks. even though they pretend to. that will change next year as commodity surplus starts

bickle in run 1/5 of its value after baidu stop taking over the money.y are moved to forbid banks and ensuring the transactions. this is not the currency with the real meaning. the company that tied up asia's biggest ipo is putting its buying spree on hold. they said they would take a break for 12 months. they want to boost the current businesses to catch up with coke. on next focus will be vietnam and indonesia. qantas baby soon given a -- may be soon given a lifelong. aey have commitment of about billion dollars. is job cuts. the s&p is cutting the ratings. that is being monday news. i am john dawson. >> thank you. in asia areriers facing ever-increasing competition. they months the skewed last year. the demand for affordable air travel can only increase. >> this is very encouraging. first-year demographics. you have a large expanding population. you have economics. you have socioeconomics which is people starting to value more of their leisure time. all of this feeds into more and more demand. unique geography, it is no reason that people are very exc

baidu says bye-bye to bitcoin transactions. yous now above $900. are surprised?rtual currency that is pretty volatile and difficult to get your hands on, but matt miller is here to celebrate what he calls the 12 days of bitcoin. of your 12 day bitcoin adventure, you actually went out and decided to buy one of these things. how did that go? >> it was challenging at first, but the story has been getting so much attention in the media, the huge jump up to $1200 for the value, we figured -- what should we do? i said -- let me get just one bitcoin and we will see what we can do with it over the next couple of weeks. the first challenge was getting an illiterate guy like me to figure out how to buy the bitcoin. yes, i google, i tweet, facebook, that is about as far as i go. i said about going through a number of different methods. coin base was one, one of mira tour -- our reporters told us it was the easiest and most legit bitcoin website, but i did not want to put in my social security number. i did not have a visa. >> by the way, if you are going to be anonymous, do

china is a big green because that is baidu, a big internet company. except for china, cause extent, iran, and russia, all of the other countries, the most dominant web services are american. now, you combine that information with what we are now learning about the nsa and the effect it has had and it's relatively unfettered access to information on communications happening on these websites -- arguably there are some controls over how they can access and what they can do with the information of american citizens and u.s. persons -- there is virtually no meaningful control over what they do and how they collect information of non-us persons. if you are not a u.s. person, and you are looking at this map, and you are thinking about this map in the context of what we have learned from edward snowden, you might be mad. you might feel that there is a power imbalance going on here. a lot of governments are pretty mad. this is the president of brazil. she recently spoke at the united nations. she accused the united states of breaching international law. they

like baidu sina and youku have been focused on. all names are up this year as they try to penetrate chinese internet base and less weary of investing in chinese internet. but still skeptics say chinese accounting practices is still a concern. >> with public offerings from names ranging from twitter, hilton potbelly activity reached the highest level in the ipo market since 2000. >> with stock prices at record highs, some were wondering the ipo is running out of roads and some say the trend should continue. guys, thanks for being here. >> thanks for having me. >> appreciate. >> gene do you think 20141 a year where the ipo market heats up even more? >> i do. since 2012 we've seen confidence building. volatility down and equity markets up we've seen market price at. you have financial sponsors who are funding these deals, remaining very active and aggressive. at the end of the day, you know it comes down to the equity markets' willingness to assume the risk. right now they are. >> jim y you're saying that 2014 would be a good year for

china is a big green because that is baidu, a big internet company. except for china, cause extent, iran, and russia, all of the other countries, the most dominant web services are american. knife you combine that information with what we are now learning about the nsa and the effect it has had and it's relatively unfettered access to information on communications happening on these websites -- arguably there are some controls over how they can access and what they can do with the information of american citizens and u.s. persons -- there is virtually no meaningful control over what they do and how they collect information of non-us persons. if you are not a u.s. person, and you are looking at this map, and you are thinking about this map in the context of what we have learned from edward snowden, you might be mad. you might feel that there is a power imbalance going on here. a lot of government are pretty bad. this is the president of brazil. she recently spoke at the united nations. she accused the united states of breaching international law. they

momentum stocks we love to talk about, baidu netflix.share. a manufacturing company, fastenal, downgrading fourth quarter. i want to end on a surprising winner at the nasdaq, and that's blackberry. shooting up over 13%. here's a company that actually reported a wider than expected loss, has definitely had a lot of issues competitively keeping up with the smartphone wars. at end of the day, the company said, look we have more cash than we expected. we have a new manufacturing deal with fox com and john chen having comments. >> khloe close up 15%. early other "squawk on the street" jon fortt sat down with interim blackberry ceo john chen. >> in the past couple of years, the issue that the enterprise customer has with us is a clear direction and financial stability. i think i could lay out a road map to show we are managing that. i think the market needs blackberry to do well. >> interesting way to put things. with us to dig deeper into blackberry, mark from rbc capital markets. thanks for being here. >> good to see you. >> in a word what d

he has backed plenty of venture capital companies from spacex to twitter and baidu.ein is with us on set, director of vfj venture cappal. thank you for joining us. >> thank you for having me. >> i'd be remiss if i didn't ask you at the outset -- >> how much money do you have now? is that where that we're in a little bit of a venture tech bubble right now. where are you? >> i don't think so. i think valuations are pretty healthy. i think where you might have a little bit of a bubble would be in some of the consumer investments. like take snapchat. doesn't have any revenue, so saying it's worth a couple of billion dollars implies some optimism. but if we're wrong, there's only going to be a couple of venture funds and one hedge fund that looks silly. this isn't like '99. >> elon musk said he was surprised how far tesla had run. he made that comment to investors. and they pulled money off the table. but he said, hey, i'm surprised we're here this quickly, too. >> he's right to be conservative. and i think, you know, tesla is a company that had to go through a lot of cha