best of bloomberg west."> welcome back to "the best of >> welcome back to "the best of bloomberg west." i'm emily chang. amazon is creating original content, green lighting six new series. one of those shows is "the after him co-written and directed by chris carter, the creator of the "x-files." jon erlichman and i asked him why he decided to comeback to do something for amazon. >> i had written something two years ago that i was excited about. it took me two years to ring it to the screen. amazon was the first person who read it and loved it. that is why i am in business. >> did you shop it to the networks, cable, netflix? >> you give it to your agents and they put it out there. amazon responded to it immediately. the process has been a lengthy one. >> chris, its jon erlichman. let's talk about this idea of having highlights. amazon is in very public. they are saying they're putting a few shows out there for people to watch. they are very public about the feedback. as a creator, at a time when you have playe

the answers coming next on "bloomberg west." ♪ >> you're watching "the best of bloomberg west."emily chang. arianna huffington came out with a new book called "thrive," calling for a new metric for success outside of money and power. one of the things she suggest we do to thrive is disconnect from technology, from our devices, from time to time. i asked her if it is possible to truly disconnect in a 24-hour news cycle. take a listen. >> there's always somebody on. we have e-mail policies. after hours, unless you're on the night shift of the weekend shift, you're not expected to answer a company e-mail. if we need you, we will find you. that gives people the opportunity to really recharge. if you think of it, you don't pay people for their stamina, you pay them for the judgment. we have so many examples of impaired judgment when people are exhausted. bill clinton is quoted in my book saying the worst mistakes i made are those i made when i was exhausted. the point is, we can all say that. i can say that about my life. >> i saw one headline about your book -- less leaning, more sl

and you will get "bloomberg west ." ♪ >> you are watching "bloomberg in a" where we cover vision technologyily chang with cory johnson. comcast executives testifying before the senate judiciary committee, defending their case to take over time warner cable. is the chuck grassley ranking member of the judiciary committee. he joins us from washington. senator, thank you for joining us. you were inside the hearing today. where do you fall in this debate? purpose is process, and not make a decision of whether or not this is a or not.te merger the federal communications commission and the department of justice is going to make that area -- make that. hopefully those are not political decisions. those are decisions based on the economics and the antitrust laws. this committee meeting and the hearing serves a very important purpose, and that is to get all interest onholders' the table, particularly the consumers of america, because this merger is going to eventually serve 30 million people, compared to 24 million people now, that one of those companies as. get everything out on the table. make sur

so much forhank you joining us here on bloomberg west. sure to stay with bloomberg all day today for our special taxing america programming. coming up, at the urban institute they will talk about the high seas for tax preparers. site the chinese commerce that goes public. they got a deal with the recent nasdaq selloff. next. ♪ >> welcome back to "bloomberg west." it has been a rough month for tech stocks, with the nasdaq dropping five percent, but that has not stopped companies from filing to go public. a chinese online cosmetics retailer is the latest. this while their cofounder and largest stakeholder said that they will not be selling shares after the may 5 lockup expires. , our bloomberg news ipo reporter, comes to us from new york. is this a good call for them? going for it? >> they could wait a few more months before pricing the shares in trading. allowave a few months to the markets to temper a bit, to allow tech stocks to rebound. this too soon to tell how will impact their pricing, but this is interesting timing for them, of cour

in this is "the best of bloomberg west."ology bring good wine to all? makinga-based startup is it accessible by crowd funding independent winemakers. naked wine sold 10 million bottles of wine last year. corey and i spoke with naked wines founder and ceo rowan gormley about how his business is uncorking online wine retailer. take a listen. >> we are crowd funding winemakers. right now, the crazy thing is that americans pay up to twice as much for the wine as europeans do. the winemakers are getting a tough deal. is really tougher winemakers to make money. >> i was further winemaking is a hobby for rich people. >> there is the joke that making a small fortune is starting with a large one. up tor members that they -- is there a particular winery or is there anything specific? put up about $80 million a year, which we invest into 135 winemakers. the numbers are big, like you say, 10 million bottles. the business is only five years old. >> for the independent winemakers, how profitable can this be? theyr profitable, because get

be sure to catch "bloomberg west" tomorrow. resident of the rhode island school of design. ♪ >> from bloomberg world accord is in york, i'm mark crumpton. this is "bottom line." today, new home sales in the united states take a plunge. as the ukraine crisis continues, u.s. troops arrived in poland for joint military exercises. the technology that makes 3-d look boring. our viewers here in the u.s. and those of you joining us around the world, welcome. we have full coverage of the stocks and stories making headlines today. peter cook tracks president

this is "bloomberg west."e is putting google glass on sale for the general public for one day only. it costs $1500 for access to the program. it is available only to adults living in the united states. google has a patent application pending. i sat down with a partner at xl partners. how optimistic are you that google glass will go mainstream? >> glass is still in beta. when you talk about it at this point, it is still intimidating to developers who want to develop applications. the reality is that you try the product and you read the reviews. it will be a while before it becomes mass market. it is interesting to those of us who live in the valley. it is a while before the mainstream will adopt google glass as a product. >> someone from coastal ventures told me that it has zero chance of going mainstream. >> it is too early to predict. when google bought android in 2005, everyone thought that the idea of google moving into mobile was not good. no one thought that an american company would become a major player

hear you can get "bloomberg west" on fire tv. edmund, i understand you got your hands on the device. what did it feel like? tell us. >> it felt like plastic. >> wow. >> it's exciting. the most remarkable thing is that it is pretty small. it's even smaller than the apple tv device. proportioned but just smaller. instead of white, it's black. it has a lot of ports on the back of it. the hardware, the physical properties, matter less than what you get with it. the interface, what you have access to. bloomberg tv, for one. as they showed on the demonstration. also, the other thing to know is if you do not have a prime subscription, there is less for you to watch. even though it's $99, you have to fork out another $99 or year to get the prime subscription to have access to the streaming shows they have on their. >> it has been described as a thick coaster. one thing peter larson pointed out is that it has three times the power and performance of 70 competitors. take a listen to what he had to say about that. >> this thing really screa

coming up next on "the best of bloomberg west." ♪ >> welcome back to "the best of bloomberg west." chang. drop box is one of the valley's fastest-growing startups with 275 million users and vcs pouring in money at a $10 billion valuation. is this sustainible? in part two of my interview with drew houston, i started off by asking him where the company is seeing the bulk of its users coming from. >> it is all over the world. the majority of our users are outside the u.s. we see a lot of sign-ups from france and with partners of ours like samsung. dropbox is part of every samsung phone. you can imagine the growth that comes from something like that. a lot of it is just everyday people telling their friends about dropbox, people sharing folders are doing work with friends. and like carousel give you all kinds of reasons to share with a lot of people. >> welcome back to "the best of bloomberg west." i'm emily chang. upworthy is on a mission. it is known for its catchy headlines and over 50 million users that watch and share its content every month. we sat down with the founders and co-c

this is "the best of bloomberg west."ollywood heavyweight jerry bruckheimer is betting big on sequels. he producer recently teamed up with paramount pictures is top gun andnew films beverly hills ranchises. >> in the book there is a conversation around design with companies like apple, we know where they are going with design. what about design for you in your films, and television, what does jerry bruckheimer design? >> you know what it is? it is not radio. it is film. you look at it. it has to look good. we try to put a little special, a little different into everything we do. that is a little different and nusual for us. >> you have this new first look deal with paramount. you have talked about words as -- disney is focused on its movies and where your focus on your movies, disney doing a lot of superhero movies. they're not the only studio doing that right now. is there superhero fatigue at some point? >> i just saw the latest captain america and thought it was great. he whole place was full of -- and everyone was che

of bloomberg west."'m emily chang. a hearing to talk about the proposed comcast time warner cable merger. comcast argued the corporate union was good for business, but is it? our editor-at-large cory johnson and i spoke with visiting professor susan crawford author of "captive audience." she wrote a piece in bloomberg view entitled "comcast pretends its merger plan is a gift to us." we asked her what she meant by that. >> they say there are semipublic interest benefits in this merger that it has to go through. their job is to create an air of inevitability about this deal. the politics are now drifting against comcast's plan. it is not at all clear that the public interest concessions are claiming to be making are actually in the public interest in the long run. there's a lot of interesting news today about the merger. >> senator franken pointed out that the comcast savings are not going to be passed on to consumers. is that kind of thing typically made in a merger? concession to consumers that prices wi

this is "bloomberg west." for our office hours segment. it features maynard webb. we asked startups to send in pictures. we will tell you how we vetted .hose pages -- pitches >> i maynard webb. in addition to my responsibilities, i have created a network investment effort. we are going to get your presentations. 15-30 anywhere from companies per week. the first thing we look for is industry focus. what was the most creative thing that you saw? whether within our sweet spot or not? >> the one that was monitoring for pollution in china. it is a very big problem. >> how confident are you that they can pull it off? >> their product is still in the design age. it looks promising. >> it is unclear. >> it could be interesting. the start of experience. they are young teams. it is hard to evaluate. we have had to lean on evidence of capability. apt.ere was an did you try to download it? >> i had trouble downloading it. >> i like their last sign -- line. it always seems impossible until it is done. >> did the young chai

you are watching bloomberg west on bloomberg television.an also see it on your phone, tablet, bloomberg.com and amazon fire tv. we have special programming all day long on bloomberg tv. taxing america, a look at everything tax-related. how sharing companies like airbnb and lift deal with the tax man. joining us from new york is alberto escalarte. alberto, you have big backers like pharrell, the founder of youtube. what is the collaborative fund? >> we are in early stage fund that focuses on feeder rounds. we try to look for companies that push the word forward. companies that can be sustainable and brands that shape culture in the future. >> one of the things that you do is that you offer more practical advice like how to pay your taxes, how to deal with insurance. our useful is that kind of information right now with some of those startups that are in completely uncharted territory? >> the role in helping with advice we had with experience with previous company. we also try to start projects that will help the whole and we start to see som

rajeev raman, thank you for joining us today on bloomberg west. fans of the x-files will soon be able to watch more from creator chris carter but they will not be doing it on fox. his new show, the actors, is an amazon original. the writer and director joins us next. >> i'm emily chang and this is "bloomberg west on your television, bloomberg.com, apple tv, and fire tv as well. we have been talking about the amazon fire tv announcement earlier this week they greenlight six new series providing original content for their streaming service, amazon prime. one show is "the after written one show is "the after" written by chris carter, the creator of "the x-files" who joins us as some of the prime time coverage. you took a hiatus for 10 years. why come for an amazon original? >> i had written something years ago that i was excited about and it took me two years to bring it to the screen and amazon was the first who read it and loved it. that's why i'm in business. >> did you shop it elsewhere? >> amazon responded immediately but the process has been a

go viral next, on bloomberg west. ♪ >> welcome back to "the best of bloomberg west." chang. upworthy is on a mission. it is known for its catchy headline and over 50 million users that watch and share its content every month. we sat down with the founders and co-ceos. we asked what they think the most important topics in the world are. and who decides? >> like any other media site, that is something that our readers trust us to figure out. far too much media focuses on trivial stuff, celebrity news, gossip. it is stuff that doesn't help people be better citizens or understand what is going on. that is when we started up worthy. we really started with a focus on just publishing stuff about that important topic. >> you get attention for your recent headlines. scientists are trying to talk to aliens and it is make interesting. how do you come up with these headlines? is there some written rule of thumb or some certain methodology? >> we just have an excellent team of creators that are really interesting and really creative and really generative. we give them the mission

coming up next on the best of bloomberg west. ♪ >> welcome back to the best of bloomberg west.ly chang. drop boxes one of the valley's fastest-growing startups with 200 75 million users and vcs pouring in money at a 10 billion dollar valuation. withrt two of my interview drew houston, i started off by asking him where the company is seeing the bulk of its users coming from. >> it is all over the world. the majority of our users are outside the u.s.. we see a lot of sign-ups from partners of ours like samsung. you can imagine the growth that comes from something like that. a lot of it is just everyday people tell in their friends about dropbox, people sharing folders are doing work with friends. and like carousel give you all kinds of reasons to share with a lot of people. box we sniff out for an ipo. they're losing money. $14 million a month. how are you guys different? >>damentally -- fundamentally people started using dropbox at home. we have to think of a much cheaper way of acquiring a business customer. there are all kinds of other things you have to do to hire a sales for

this is "bloomberg west." we have been talking about announcement tv but earlier this week the agreement six new series green lighting content for amazon prime. one of those shows is "the after" written by chris carter, the creator of the x-files. he is with us today. chris, you took a hiatus from tv for 10 years. why come back for an amazon original? >> i had written something two years ago that i was excited about. to bring itwo years to the screen. amazon was the first person who read it and loved it. that is why i'm in business. >> did you shop it elsewhere to the networks, cable, netflix? >> you give it to your agents and they put it out there. amazon responded immediately. the process has been a lengthy one. >> let's talk about this idea of having pilots. amazon has been very public. here are a few shows we are putting out there for people to watch, and then they are very public about saying we got this feedback from reviewers and we will go ahead. havecreator, when you people like netflix who are willin

we will be uncorking some innovative wine tech next on "bloomberg west". ♪ >> welcome back to "bloomberg. i am emily chang, here with cory johnson. silicon valley to napa valley. >> a good way to go. >> you like your wine. this segment was your idea. what are we talking about? >> an interesting business model. making great wine more accessible through crowd funding. ckstarter,her -- ki ofy sold 10 million bottles wine last year. >> is that a lot? >> it is more than one dollar per bottle. talk to us about this business model. >> we are crowd funding winemaking. americans pay about twice as much for their wine as europeans. the winemakers are giving us a tough deal. heardave always winemaking is a hobby for rich people and it is not profitable. >> that is true. is, "the way to make a small fortune is to start with a large one." thatwas going to make joke. your business has some serious numbers behind it. .ou have members that pay up do they subscribe to a goticular winery or do they across -- >> we have 200,000 around the world who put up about $18 per year. the numbers make about 10 milli

that does it for this edition of the best of "bloomberg west."s monday through friday. we will see you next week. ♪ . . payhe following is a program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> this program is a paid advertisement from the u.s. gold reserve. >> from

that and more when "bloomberg west" returns. ♪ >> welcome back to "bloomberg west."'m emily chang. yahoo! is nominating three new board members. jon erlichman is in los angeles with the details. jon, some familiar names and some names that marissa mayer has presumably gotten to know well? >> you highlighted at the start of the show that h. lee scott, potentially someone she got to know from walmart's board. we know that yahoo! and marissa mayer have been on the hunt for board members for a long time. we learned in recent days that another board member would be leaving, not staying on, past the shareholder meeting, john hayes also leaving. this was beginning to be an awfully small board of about five people when you include marissa mayer. they have been looking for people for a very long time. in picking the three they have selected, lee scott, charles schwab, obviously a name that probably needs very little introduction, and david filo, cofounder of the company, you have two things. number one, in scott and schwab, we have heard a lot about the possibility in looking

we will be right back. ♪ "bloomberg west >> you are watching"bloomberg west -- you are watching "bloomberg" i am here cory johnson. comcast executives are testifying before the senate judiciary. senator chuck razaleigh is the top republican. he is the ranking member. thank you for joining us. you are inside the hearing today. where do you fall on this debate? process andse is not making a decision of whether or not this is a legitimate merger. the federal communications branch and the department of justice will make that assessment of stop hopefully those are not political decisions. their decisions based upon economic and antitrust laws. this committee meeting and the hearing serves a very important purpose. that is to get all of the stakeholders interests on the table. particularly the consumers of america. this merger is eventually going to serve 30 million people, compared to 20 million people. tableerything out on the and make sure that all of the interests are making into -- taken into consideration. make sure that the fcc and the justice department noted congress is watching. they e

♪ >> welcome back to "bloomberg west." emily chang, here with cory johnson. since all of the nsa issues, there have been a lot of questions about what we can do to make ourselves more secure. so, we decided to take a closer look at that. >> it shows you what your risks are as a consumer and the business. target, really reeling from this thing. >> one of the biggest hacks in history. we have brian white with us to give us some of his tips and tricks to staying secure while online. where does this start? >> i think it is great you're doing something like this because many of the problems we can solve by having consumers take control. and consumers understanding what their risk is and doing some prudent and necessary steps. i think they can sleep a little bit easier about the cyber risk that they read about every day. i think that is the hardest thing. how do you do this? you start with one password and your banking sites with something else. you have to go ahead and think through the upper and lower case letters, symbols, an

>> welcome to "bloomberg west." hear fromnding by to spacex ceo elon musk who is holding a press conference momentarily that was announced just last night in a mysterious e-mail to reporters, all happening in just a few moments. we will take you there live. is it game over for google plus? their efforts in social networking have not been wildly popular and now google plus googlect is leaving but says its strategy isn't changing. first, check out the top tech headlines. shares of amazon are down about nine percent, hitting a six-month low. the selloff comes after expenses rose 23% in the first quarter, limiting amazons profit. the ceo is pouring cash into the business for shipping and services, including media content, a new prime entry business, and cloud business. microsoft takeover of nokia handset is official. the deal was completed today, seven months after the $7.5 billion purchase was announced. may beal price slightly higher. thousands of employees are transferring to microsoft as part of the deal. heavy spen

>> live from pier three in san francisco, welcome to the early edition of "bloomberg west," where we cover the global technology and media companies that are reshaping our world. president obama says your agency should report security problems. i spoke with david jiminy and jordan robertson about these developments, asked, do they get essay denies this. we know the nsa has been trying many different ways to compromise. >> what you think, how do you fall on this? class the whole purpose, they have capabilities in the whole purpose is to draw inaccurate flaws. it is part of a national security, saying, they had no idea this happened. they have always these different things in their arsenal. they use every single day in order to -- different governments, a lot of money to be made in the private sector. >> would you say they're in the business of asked wedding the bugs in the system -- exploiting the bugs in the system? >> the nsa buys security vulnerabilities. if they are now going to require the nsa to disclose vulnerabilities that they find, there is a loophole in the statement which

that does it for this edition of the best of "bloomberg west."ch us monday through friday. we will see you next week. ♪ >> it is a contest of skill and luck. where reading your opponents and the odds are the key to victory. and it is a game every banker, broker, and trader wants to master. >> go big or go home. >> poker is wall street's newest obsession. the parallels between smart investing strategy and killer poker moves can't be denied. >> you injured the dragon. >> tonight we're upping the ante and in this group of eavyweights. stock-picking legends and others are playing their hands in a tournament to take home

that doesn't for this edition of the best of "bloomberg west."ch us monday through friday. we will see you next week. ♪ >> the following is a paid commercial program brought to you by prosvent. >> do you make frequent trips to the bathroom? suffer from urgency or hesitancy? do you get up more than once a night? can you even sit through a movie? or worse, have a diminished sex life? if so, chances are you have an enlarged prostate. 30 million men now suffer from an enlarged prostate.

thank you for joining us today on "bloomberg west."g to keep government eyes away from user data. we will tell you about the web company's latest move, next. ♪ >> you are watching bloomberg west where we focus on technology and the future of business. i'm emily chang. thering user data from prying eyes of government surveillance and other possible snoopers. in a blog post, the traffic moving between yahoo! data centers is now fully encrypted. yahoo! also made yahoo! mail the homepage and search more secure by making https encryption the default. tv will haveomberg an exclusive interview with defense secretary chuck hagel. you can catch the full interview at 6:00 a.m. eastern. in today's new hollywood, discovery communications is partnering with hollywood producers ron howard and brian grazer to form a new studio that will make short videos for online viewers. the venture is called new form. ceo davido discovery stanislav and producer ron howard in a bloomberg exclusive. why now was the right time to push into the digital game. >> our c

lex thank you all for watching this edition of "bloomberg west." r. ♪ >> the following is a paid program. the opinions expressed do not reflect those of bloomberg l.p., its affiliates or its employees. >> these statements have not been evaluated by the fda. this product is not intended to diagnose, treat, cure or prevent any disease.

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this is "bloomberg west."e clippers in the playoff game on sunday but the match was overshadowed by recorded comments allegedly made by clippers owner donald sterling, to his girlfriend. take a listen to what he allegedly had to say. >> this is in response to a picture that the girlfriend posted on instagram of herself with nba great magic johnson. the comments were met by protests, not surprisingly. today announced it was ending its sponsorship of the team. joining me now is cory johnson and former nba tv president. he is currently the president of a media sports network. how do you expect us to impact the team in the short term and the long term? emily, i think you have to look at this in the way that the sports business works. the reality is, the sports is aess infrastructure very high fixed cost, high fixed expense business. so with player costs on the one hand, everything else that goes into the cost structure, essentially being fixed, and the revenue streams, whether they be local television, national te

you can watch us streaming. ♪ ♪ >> i'm emily chang and this is "bloomberg west" on bloomberg television buzz, google wave, google friend connect, all three social efforts by google that flopped. is google plus nexed? the head of google's social network is leaving the company after eight years. google says this does not signal the end of google plus. this has no i will pact or our google plus strategy. we have an incredibly talented team that will continue to build great experiences. michael kim joins us via skype from seattle. he worked with vick at microsoft to launch the cloud services and brad stone of bloomberg business week here in the studio who wrote in this week's issue a new story about google's and facebook's fight to control technology. why did vick leave? is google plus dying? >> google plus it continues to be important to google, photos, hangouts. those are growing products. they're being more integrated in android. the identity aspects are more in the seven. the original promise of google plus as a social network didn't work out. we know that. no one is spending time there

>> live from pier three in san francisco, welcome to bloomberg "west." it is a race as microsoft tries to fix this. alibaba goes on investment spree as we await the record-setting ipo filing. a check of your bloomberg top headlines. closing arguments are set for the apple samsung patent trial. they have applied him or darrell basham more narrow application. at&t is planning to bring 4g marlys access to flights. they could start this as soon as next year. dividershares of wi-fi plunging in after-hours. drivingays the self cars logged nearly 700,000 autonomous miles. google has been testing the cars around the hometown of mountain view, to improve their ability weeks after the disclosure of the heartbleed glitch, there is another major glitch. this affects about 25% of browsers out there, looking at versions six through 11, although the most recent ones are mainly being hurt. the way it works, it gives the hacker the same level of access as the official user. people that still have microsoft xp, windows xp, are particularly troubled in this case. cory johns

that is still to come on bloomberg "west." ♪ >> welcome back to bloomberg "west." francisco is famous for protest. today they will march to capitol hill with a bunch the -- with the bill they want them to pay. megan hughes is outside the offices right now. have not paid taxes because they legally do not have to, right? >> that is exactly right. that is a tax break the city gave to them. get ready for our rush hour nightmare. around 4:00ill meet at city hall in will cut off traffic. organizer expect tank 1000 people. out here tome twitter headquarters to protest what are now being called the twitter tax breaks. not just twitter getting the tax breaks. a number of companies, more than one dozen including square, all getting tax breaks to come to this area. it allows companies to be exempt from paying payroll taxes on new hires. encourages growth particularly in this area. also exempts them from paying payroll or other types of exemptions. ideal for companies considering an ipo. they are negotiating a contract with the city because they are being asked to make concess

that does it for this edition of the best of "bloomberg west." us monday through friday. we will see you next week. ♪ >> the following is a paid program. >> this company is not >> this company is not affiliated with the u.s. government or the u.s. mint. the markets for coins are unregulated. buying carries some risks. past performance cannot predict future performance. the information presented is

this is "bloomberg west." now to our special series. the dominant streaming service for music videos. the billions of videos viewed worldwide. viewership has increased nearly 50% since last year. how is the company keeping up that momentum? jon erlichman joins us from new york. >> when you think of music videos, you think of mtv. in the world of vevo, it is like channels everywhere. we have rio caraeff, the president of vevo. how are people watching videos now? >> everywhere. on apple tv, xbox, roku, they're androids. vevo is about giving people music wherever they want. >> break it down. say you're on the go and you are on the phone. how much traffic do get from people watching videos on their phone? >> it is amazing how fast it has changed. today, about 50% in the u.s. are happening on smartphones. about 40% of streams around the world are happening on smartphones. that did not exist two years ago. >> you also want to get their attention in the living room. you guys have all of these deals to be on different platforms. vevo on roku. y

from pier three in san francisco, welcome to "bloomberg west." i am emily chang. shares of the twitter of china are gaining. we are live with the chairman. and willie brown is here to talk about the raging debate over income inequality. first, a check of the top headlines. sap has reported small gains. the failed to offset slowdown in older software products. hurterman company was also i a strong europe. twitter announced new mobile app products. they will allow users to sell their apps in there at exchange. they have been successful for facebook. sold morethey have than 7 million playstation consoles since launching in november. they're having trouble keeping up with demand. that is 3 million more than the xbox one. in addition, they say they have sold more than 20 million copies of ps4 games. first, the ipo is off to a fairly strong start for weibo. are at the low end of the range, $285 million. they are controlled by a chinese online compnaany. joining me, their chairman and ceo. how are you feeling? >> great. it has been a tough market. nasdaq and the entire u

we will be right back with more bloomberg west after this quick break. ♪ tv.elcome back to bloombergvia sterns peered we want to bring you some breaking news. we have a bit of a market selloff underway. mark is down across the board. investors in particular selling shares of the companies that have had some of the largest gains last year. this selloff seems to be continuing. the nasdaq in particular is seeing the heaviest selling. down 2.6%. the s&p polling the most in two months, wiping out all of the gains it has made over the past two days. it down now since the start of the appeared at the nasdaq falling the most. slipping 4%.s are alexi on down 8.5%. facebook off five percent. about 6% now.ff more bloomberg west coming up next her a. cooked by renowned chefs delivered to your door on demand. munchery specializes in daily organic food cooked by in-house chefs. they're raising an additional $20 million in funding. scott is with us now in studio. he is a former managing director of goldman sachs, where he led early investments and facebook and foursquare. thank you for coming. i'm