correction. emily: we have been following several ipos. do you see the same trends happening in the public market? >> the public markets are more quickly correcting than the private markets. they see cyber institutions coming into the market and they know there is a huge demand for cyber solutions. at some point, the reality sets in. there is no silver bullet to the problem. the company going public today are companies that were invented 10 years ago. the problems they were solving back then are not the problems that need solving today. back then, security companies were bolding perimeters around networks. if you look at palo alto networks, it is all about building the firewall, checking them out before they come in. the problem today is not the generic malware that affects everybody. the problem is those targeted attacks that work their way through your network and attack the crown jewels of a business or agency. in this new world, the perlmutter is not really relevant. the companies going public today are solving the old problems, not the new ones. until we see a new wave of companies go public based on the new technologies being invented here, today, i don't think we will see the solutions to the bigger problem in the market. what are the hot investment opportunities for you, if you are looking to solve the problem, what kind of technology is that? we are looking for companies that are not building a perimeter, but understand that you have people moving through the network. how you find human-driven attacks already in your network trying to find your crown jewels. we are looking at companies that are addressing new classes of vulnerabilities, like the ones that exist on industrial equipment. the agreement that drives climate systems, electrical utilities, nuclear facilities, water plants, medical equipment in hospitals. all of that equipment is vulnerable to cyber attack, as the people here are demonstrating. who is coming up with solutions to those problems? emily: what should we be scared of? we are talking about hacking at tesla, banks, critical infrastructure. i think critical investiture has to be at the top of the list. emily: everyone agrees the systems are vulnerable, but it has not happened. i wonder if there is some fear mongering going on? i have been investing in security for about .2 years. all i can say -- 22 years. all i can say is when the security community identifies a large vulnerability, the initial reaction among the mainstream is that is not really happening, you are fear mongering. it is only a matter of time before those liabilities are exploited. whether you are talking about the ability for people to get into your computer or your mobile phone, or the devices in your home, at some point, if there is a profit to be made, if there is a political statement to be made, a geopolitical advantage to be had, those vulnerabilities will be exploited. emily: you cofounded and incubated three security companies. with the ceo of fire, he sees a lot of m&a happening in this space. meg whitman sees a lot of industry consolidation and believes that this is a prime target. what do you see? m&a has to be the primary means of exit and growth for companies in this space. the security market is different from other technology markets. routers orink about databases or microprocessors, those companies were tried to solve very thorny problems, and what's they did, you kind of solve the problem. the security space, there is no such thing as a mature solution. you constantly have people on the other side who are rendering your solutions obsolete. any mature solution by definition is obsolete. the big companies with distribution abilities, like palo alto networks, they have the advantage of salespeople talking to the customer, the advantage of that access to the market, but they need new technology. then you have all the startups developing new technology and they don't have access to market. so there is a constant consolidation that has always happened in the industry and always will. emily: david cowan, thank you. we will have some of the most famous hackers coming up through the day on television from devcon. -- def con. betty: thank you, emily. still ahead, susan lyne was a top executive at abc. now she holds titles at gilt groupe and aol. what does she make of how the markets crashed media stocks this week, and how is aol managing under verizon? ♪ betty: welcome back to the bloomberg market day. let's go straight to ramy news ono for the big the day. we have a couple more hours to get out of the red but we probably are not. the seventhown for straight day in a row, the nasdaq and s&p down for two days. the s&p down nearly .7%. the nasdaq and tech shares down .7% as well. let me show you some of the biggest leaders and the laggards . mostly we are talking about laggards. energy is down the most, 1.2%, followed by materials, 1.03%. the energy sector yesterday was the biggest leader and now it has turned around for the other corner. now let's look at some individual stocks, and some of those falling are these. consol energy down 6%. eog resources down 4.3%. that is your to date down 18%. the company will halt growth as the price of oil has fallen. was $5.3e last quarter million versus $706 million a year ago, because of all that oil oversupply. marathon also down 3%. take a look at the oil price. down by just over 1%. $44.18. headed for its sixth week of losses as we head into the weekend. opec's biggest producers are still doing a lot of oversupply. it turns out the five-your average is 100 million barrels higher. finally, treasuries. this is the two-year. i want to bring this up because of what is happening with payroll data. shorter-term treasury prices are falling because of the jobs number that came out at 215,000. investors thinking the fed is likely to raise interest rates in the near-term, maybe as early as september. betty: that is what investors are betting on, thank you. in may, verizon bought aol for over $4 billion in one of the last conventional media unions we have seen in the last few years. they also made acquisitions of their own along with some private investment. with me to discuss media and her susan lyne, the former abc and martha stewart executive, now a member of the gun group and bbg ventures, which invests in women-led companies. media, let's into talk about how bbg ventures will exist under verizon. >> we do not see it changing. for years now, aol has been very focused on women's leadership and on getting more women involved in tech. this was just one more of those initiatives. we launched about one year ago. we invest in women-led tech startups. we thought it was a huge opportunity because the vast majority of venture capital, more than 90% of all venture dollars, go to guys. betty: man they are made by guys. >> yet, women are the key consumers online. they are the largest user base for all the fastest-growing parts of the internet. we make or influence 85% of all purchases. it made good sense to us to go where the other money was not, to go after this new generation of young women who are building companies that are solving everyday life problems. betty: may not have gotten the access to capital. is verizon largely leaving you alone, are they giving you support, any money? >> it is such a early days. the end ofowwow at the month to get all of venture groups together. certainly, they have been very supportive. betty: you mentioned the consumer part of it, women being huge consumers. are you looking at mostly e-commerce companies? we are seeing marketplaces, commerce companies, media companies. we are seeing companies that are services built on mobile. that is a very big area. people building on the installed base, and on the hardware. mobile first. lots of mobile first companies. betty: i heard about this in san francisco recently -- hop, skip, drive. for ally, uber mothers. >> it is ridesharing for kids. when you think about a mom who works, living in los angeles with three kids, with different afterschool programs, nice to be here and there. and saw a beautiful market they have built a great product, which has been embraced almost immediately. what they have done is make sure all the drivers have five years of childcare experience, safety programs, they fingerprint all of their drivers. so it is highly secure. betty: ud here about parents using uber, but there is a fear factor. not when kids are six or seven, that will not work. betty: i have the same issue, i have two kids. i have been able to get away with putting them in the same thing all the time but pretty soon they are going to like different things. we are going to take quick break. we want to talk to susan about some of the media stocks. what a terrible week for these companies. ventures. of bbg maybe wall street could not bear the loss of jon stewart. hammerednies have been -- media companies have been hammered this week. ♪ toty: before we get back media stocks, let's go to jon stewart who signed off of "the daily show" last night. one surprise was stephen colbert. not asking forre this, but on behalf of so many people whose lives you have changed for the past 16 years, thank you. me now i believe -- correctg -- your line is, we'll be right back. betty: an emotional jon stewart. the cameo was among the highlights during his hour-long farewell show. there are all of the alums paying tribute to 16 years of satire. even bruce springsteen provided the music. stewart promised the reset he would that be fading away. susan lyne is with me, long-time media executive. you watch this. so fantastic. what a great way to end a terrific run. betty: 16 years. and interesting, that it came at viacom gotn clobbered, and also disney and fox, any broadcast company got hammered. why? >> traditional broadcasters did. there was nothing shockingly new here, nothing that people did not realize was going on. everybody assumed, of all the cable channels, the one that was the safest was espn. the fact that they have lost the bellwether. from that, people made a bunch of assumptions. they are going to start losing affiliate revenue, subscribers could go down further. not just for espn, but for cable network. starz y