emily: bill gurley says we are in a risk bubble. companies and investors are taking on too much risk. how would you describe it? david: we are being asked to take on a lot of risk. there's a lot of a lot of money, a lot of optimism in the system. that is causing pricing to be higher, causing expectations to be higher. i think we are asked to take higher risks than -- probably since 1999 or 2000. on the flipside, i believe mobile is a fundamental shift and is only in the third inning. you can see how it is changing the world where businesses that would have been terrible businesses, uber and airbnb, are enabled by mobile in ways that were not possible before. you can look at public companies as a benchmark and say it is not so clear that they are overvalued looking at their multiples. there are a bunch of mixed signals that lead to an environment where risk is mispriced for us. emily: would you use the term "bubble?" david: we don't sit around and talk about a bubble. we certainly talk about prices being expensive, but we make our de

bill gurley: for me, it is a platform that has more potential than any large company out there.gine scenarios where it goes eight times higher than it is today. still, a lot of work to make that happen. the most important people in the world in almost every sector covet and curate the twitter handle. that is a lot of potential energy, if you can harness it. emily: optimistic. perhaps jack dorsey does not have a hard job at all. >> it has an easy job, right? they have been mismanaged as badly as possible. if he is able to fix a lot of basic things, which, from a moral authority, he has to be able to do, these things are never easy and business. he has a nice tailwind. emily: we are back at the vanity fair establishment summit. still with me is brad stone. joining me now is the founder, julia. of eventbrite. great to have you on the show. you recently made an appearance in fortune magazine as one the top places to work and you trumpeted some of the diversity numbers, which are important. you worked hard to diversify. julia: we were excited to rank number 50 in the first year on th

we go to emily chang who will speak with bill gurley. all coming up in this hour.the trading day, let's find out where markets are trading. we will go to julie hyman. julie: thank you. , weets are bouncing around are seeing a mixed picture. the dow is the only index in the green. be driving down the s&p 500 and the nasdaq, we do see a lot of biotech stock changes. i wanted to point out that lazily, we have seen the s&p 500 bumping up against the almost 2000 level. i will tell you what i am talking about. a three-month chart of the s&p 500. this is the big decline in august, and here is the 2000 level, as we've had rebounds from the deep declines, several times, we have had stocks approach the 2000 line, yesterday was the third time in the past month or that has happened. each time we have seen it fall just shy of that particular level. maybe stocks were undervalued where they were, maybe they were getting too high after yesterday's rally. let's take a look at the imap. the poll that i was referring to, utilities are lower, health care is lower. energy and materials

you heard bill gurley yesterday speaking to emily chang about how he thinks twitter could be much biggere he is an investor but he thinks the new chief executive, jack dorsey could do both the jobs that square and twitter. is bullish and maybe that is affecting the stock today. scarlet: i'm glad you brought up biotech because we will be speaking about that later as well. pimm at the nasdaq. sleeves rolled up -- i like it. samsung is making news -- the sincesurging the most 2009, rallying nearly 8.5% at the close in seoul. >> a surprise beat for samsung. nearly 80% to $6.3 billion for the third quarter. the weaker currency helped to birds -- helped to boost revenue. sales of devices have been lukewarm and struggling to compete with apple iphones in the chinese -- and chinese smartphone makers. we will get a better gauge when the company releases division earnings later this month. when should the federal reserve raise interest rates? larry summers stopped by bloomberg go and listen to what he thinks. there is no reason to raise rates until you see the whites of inflation's eyes. i look at

bill belichick sweating. not for long, 1.21 left. brady to gronkowski. 50th career touchdown catch. >> 49ers next oopinion net, the rams, hosting the browns. gurley improve to 3-3 with he 24-6 victory. their defense will be a bill challenge. >> at the titans? the dolphins don't. tannehill has complete 25 in a row, a new nfl record. finished 18-of-19. four tds, got some help here from landry. pretty much dodging every texas defender on his way to a 50-yard touchdown. dolphins wing big, 4426 the final. >>> the golden state warriors, your defending nba champion will open difference of their title tuesday night, hosting the new orleans pelican and will receive their championship rings. the talk around the league this warriors got lucky and sethure knows the teams will be gunning for the dub's tuesday night. >> it will be a challenge to go through the 82 game and play at a high level. we're a marked team, and everybody gives us their best shot especially the western conference. so, with coach carr or without him, always going to be a challenge, and if we're not at our best, going to' tough. >> minute timberwolves head coach and team president, flip sa