. >> john malloy, crid yu, jon erlichman, leslie picker. we will continue this conversation and we will talk about the valuation. some are saying it could reach 250 billion dollars. is that fair? ♪ >> i'm emily chang and this is "bloomberg west." we are talking about alibaba diving through the f1 filing and what could become the biggest ipo ever in the united states. my partner cory johnson is here and jon erlichman, senior correspondent in l.a. i'm joined by john malloy of blue run ventures. and crid yu. i have seen potential valuations ranging all the way up to $250 billion. is that fair? >> all the bets that alibaba has made in mobile and the other things we have been speculating for a long time about how alibaba will do much more in cross-border trade. the example about the yoga teacher buying directly from merchants. it feels like alibaba is leaving out its largest growth area for subsequent room to grow, additional value. >> interesting. we do know that this is only a first step, but maybe that's the question. what's been left out of