david kirkpatrick is sticking with us.esla may be at record highs, but famed investor jim chanos is not sold. bloomberg's erik schatzker caught up with the hedge fund heavyweight at the salt conference in las vegas where chanos said tesla's stock is not worth a lot. >> tesla will be dependent on the model 3. all the other nonsense notwithstanding, at the end of the day, the company is not worth what it is trading at today on its current business. if you do not believe me, look at what elon musk was quoted in the papers today saying. he himself said the stock is not worth $50 billion. emily: coming up, salesforce at -- out with its first-quarter earnings. profits and revenue topping estimates. we break down the numbers, next. later, we will hear from jenny lee, who spent over 15 years investing in chinese startups. this is bloomberg. ♪ emily: salesforce is getting a boost, upping the annual revenue forecast as it continues to attract more customers with a broader line of products. it reported first-quarter revenue of about

still with us is david kirkpatrick.oline, what is the purpose of this new tax, and what companies will be mostly affected? caroline: fascinating. it is coming up in the so-called manifesto of the conservative party. we are running up to the general election, which the conservative party are due to win. they have come out today with part of this manifesto proposing a law to allow the government to on social media and communication service providers. they do not name companies are say how big the taxes could be, but they notably say that it will support the word is and preventative action to counter internet harm to basically saying, look, some people say the government should not regulate on this, but we disagree. the government should be regulating these sorts of technology movements in the internet. this is on the heels of the wannacry ran somewhere -- ransomware attack in the u.k. this is something the public wants to hear. they want to see some sort of fight back and protection for those who use the internet, particu

i want to bring in david kirkpatrick and paul sweeney.ok at these numbers, what interests you the most? paul: i would start with the revenue, a came in very strong again. this extraordinary topline growth on a company that has $63 billion, they put in double-digit, topline growth. it is driven by their baseline metric, their monthly and daily active users. we will find they monetize their mobile users, which of the fastest-growing part of their user base. from the topline perspective, this is what the bulls continue to look for. they need topline revenue growth from a higher monetization of the user base. numbers,looking at the facebook says it will no longer report adjusted earnings per share. 1.04 --the$ joe: you let out an audible gasp. >> it is not that i was not expecting a good quarter, but they did say to expect lower revenue growth in 2017. this company continues to roll like a steamroller forward. we are in a society where everybody has this thing, looking down, bumping into people, everywhere they go. what they're doing, they ar

joining me to dig into the earnings, david kirkpatrick. great to see you.n new york, angela is with us, analyst at cfra. she has been listening in to the call. i want to start with you. let's talk about the iphone. of revenuesg 2/3 for the company. are you concerned that sales were flat? >> know, when you look at the quarter overall, it was mixed. the one negative was the iphone numbers. but it's one of those quarters where you can only put so much emphasis on the iphone. you of course have the major launch later this year, and we think the entire miss here can be attributed to the fact that consumers are holding off for the next generation iphone device. overall, you are seeing a little bit of a hit on the stock price, but it is something we would look past. emily: i spoke with apple cfo luca maestri who spoke of channel inventory. they sold 1.2 million iphones worth of channel inventory. that brings the number slightly up. david, what is your take? >> if i understand correctly, the sales outside of china actually grew. cook said it is because they were se

and david kirkpatrick in washington dc. david, you are in on the party.ll make sure to include you. what is going on with infosys? cory: politics. this is about politics. this is an attempt for emphasis, one of the largest consumers of h-1b visas, to get themselves on the right side of the story. it has been going on for quite some time.as one of the reasons president trump was able to become president, capturing this notion of something gone awry with the american workforce. infosys is a principal offender. people in the far right media are calling them out as a company stealing american jobs it's no accident. . with 10,000 people being hired in hubs, especially in indiana, that is a place where president trump won and vice president pence health from. they want to make -- hails from. they want to make a mark for that reason. emily: i know you are looking at the numbers at other companies affected by the policy changes. cory: outsourcing firms are big consumers of h-1b visas. there are bigger known companies like intel and apple. the biggest consumers ar

we spoke with our bloomberg contributor david kirkpatrick and an analyst. vid: when you look at the quarter overall, it was fairly mixed. the one negative with the iphone numbers. but it's one of those quarters where you can only put some -- so much emphasis on the iphone. you of course have that major launch later this year, and we think the entire myth here can -- the entire miss here can be attributed to the fact that consumers are holding off for the next generation iphone. so, overall, you are seeing a little bit of a hit on the stock price, but it is something we would look past. emily: i did speak with luca maestri, who talked up channel inventory. they sold 1.2 million iphones worth of channel inventory, which if you consider those numbers, that brings the number slightly up. david, what is your take? david: well, if i understand correctly, the sales outside of china actually grew, and cook said it is because they are seeing anticipation of future product a problem. it's amazing to me how in china they are even more status conscious and technology co

david: david kirkpatrick is the author of "the facebook effect." he is a friend of the program. back. great to have you. great number some of they had some mornings, and the stock did not go up that much. in fact, it went down and came back up. david k: there are so many questions, yet they continue to steamroll ahead with extraordinary power. it is easy to put the questions to the back of your mind and say, "wow, these people have so many fields still to conquer," and they do, but there are gigantic questions facing the longer-term future. david: the biggest one being? david k: what is their social role. ? you have a commercial entity that is becoming to some degree in every developed country, in most countries except for china and north korea, the platform for freedom of speech -- a company. ok, that is a massive responsibility. we have heard they are hiring new monitors, etc. -- that is really good -- but the challenge that is going to entail overtime to keep from offending the world as unfortunately they have been doing lately -- fake news, donald trump, suicides, the murder