[ cheers and applause ] drop your box dropbox. >> jimmy: next we have, "split." >> steve: split!'s a bad name for a a pants company for overweight people. [ laughter ] it's a great name for a divorce lawyer. you see what i'm saying? [ laughter and applause ] it's called "split." >> steve: maybe just one -- i think if i heard one more i would understand. >> jimmy: i'll give you -- i'll give you one more example. this one's -- it's our tenth example. >> steve: okay. [ light laughter ] >> jimmy: finally we have "bye, bye birdie." >> steve: yes, i know that. >> jimmy: that is an upcoming live musical on nbc. it's a good name for that. >> steve: yeah. >> jimmy: it is bad name for a a veterinarian's office. [ laughter ] it is great name for kfc. >> steve: oh, i get it! [ laughter and applause ] >> jimmy: i'll ex -- explain it to you later. >> steve: it's a great name for kfc! >> jimmy: i'll tell you later. [ cheers and applause ] that's all the time we have for "good name, bad name, great name." we'll be right back with mike myers, everybody. [ cheers and applause ] what is so hard to

the next on the block could be dropbox by that $10 million.t may come in the next quarter or so. there is a lot of hope that if this particular shares goes well, we will see plenty more of those unicorns. there i mention uber or airbnb. vonnie: thank you. we will back -- we will be back with you in a few moments. speaking towill be -- aligned can follow live coverage of this lead ipo on the bloomberg. mark: it is happening today. inflation, we will dissect all of the european economic data. that is next. this is bloomberg. ♪ ♪ vonnie: this is "bloomberg markets." from new york, i'm funny quinn. mark: and i mark barton in london. analysts had expected to hit the 2% mark, but doing so could provide ammunition for those theing for next it for european monetary stimulus program. let's bring in maria. i got a chart that i will take about, the headline rate, 2%, across the ecb's target. the blue line is the headline rate. the white line, maria, is the core rate at 9%. what do these two lines tell us about the ecb going forward? maria: the two lines

dropbox,quare, virginity -- the muslim ban sets to go into effect thursday being challenged in the court in seattle. , maryland, hawaii. phone, you'rethe getting breaking news that a geoeye yards will issue a trump travel ban ruling later today. k bring us up to speed? last 90 minutes or so, the state of hawaii and the justices department argued all -- whether the president's claims during his campaigns call for a nationwide muslim ban and earnestly -- registry. it claims for dissemination in this case. the plaintiffs have argued that as this -- the intent is still inspiratory. discriminatory. was an individual citizen campaigning for president, now imposing and policy invented by people who had nothing to do with that campaign. did not make any discriminatory comments in their past. note discriminatory intense. hawaii's address claims whether they have the rights to make any of these claims. there might be families of these immigrants who wants to gain entry to the united states but don't have constitutional rights to sue in court. caroline: a seattle judge weighing the argument as well

tech companies have filed briefings against the revised executive order on immigration including dropboxatest ban prohibits travel from majority muslim countries and is set to go into effect on thursday. it is being challenged in the courts in maryland and hawaii. we go to hawaii where we are joined on the phone by one of our journalists. we are getting breaking news that the judge will issue a ruling later today. can you bring us up to speed? 90 minutesn the last or so, the state of hawaii and the justice department argued over whether the president's hasms during his campaign called for a nationwide muslim ban and a registry, were sufficient calls for discrimination. the plaintiffs have argued that the intent, in spite of the fact all references to religion have been taken out of the order, the intent is still discriminatory. the justice department responded by saying, he was an individual citizen campaigning for president and now he is imposing a policy that is invented by people who are nothing to do with the campaign, who did not make this commitment rate comments -- make discrimina

it could lead the door for interest, dropbox, air b&b to name a few.che of ipos in 2017. >> thanks for joining us. keith blitz. coming up, gamers line up for the new nintendo switch boosting the shot, new gamers work at home or on the go. >> 36 hours. >> created something here. >> in sports, chicago bulls and golden state and the warriors, as kb injured his leg. phil mickelson shares the lead in the first round of the mexico open. we have all the highlights for you. you are watching "fbn a.m.," your first look at morning markets and breaking news. the future of business in new york state is already in motion. companies across the state are growing the economy, with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at esd.ny.gov the full value of your totaled new car. the guy says, "you picked the wrong insurance plan." no, i picked t

i don't know about dropbox, but go public in 2017.ll these companies that are enabling enterprise to move to growthud, there is a secular story around that. public investors want to have access to this growth. they've not had that in 2015-2016, so they are thirsty for a new ipo. caroline: how frustrating is it airbnb canies like keep raising cash in the private market, since they will just delay as much as they can? frustratingewhat it for the investors and many of the employees who are locked in the shares that many of them cannot offload. they need to put money down on a house or to get out of the have the amount of compensation and airbnb, but uber have shown stubbornness to stay private. and the ability to keep raising and raising money. you mentioned snap, it is an interesting example of a company , obviously there was the usual rocky first few days after the initial public offering, but it seems to have been, by many measures, a successful ipo. a lot of people are saying it is probably more of an outlier and they are looking mor

of companies, we have some juggernauts with proven business models and revenue, uber and airbnb, dropbox to happen? do these companies need to come to the market? is it up to the investor base to say the time is now? companyice of whether a stays private or goes public is entirely with the entrepreneurs. there is some flexibility to do some things when you get to the public markets. you need to be predictable and set long-term goals. entrepreneurial companies like rubric change strategies continuously. the company is only three years want thatu flexibility to change, and with private investors it is much easier to do. a highlyget to predictable stage, then an entrepreneur can choose to go public or not. we always support entrepreneurs and their choice. caroline: you never apply any pressure? >> almost never really. it is the wrong thing to do, apply treasure. caroline: you don't need exits? n needs? have your ow >> we never worry about exits per they happen when they happen, but we almost never worry about it. i have a rule, if someone talks about exits when we are investing, we won't in

uber and airbnb, dropbox. what needs to happen? do these companies need to come to the market?to the investor base to say the time is now? or do you like companies remaining private? >> a choice of whether a company stays private or goes public is entirely with the entrepreneurs. there is some flexibility to do some things when you get to the public markets. you need to be predictable and set long-term goals. entrepreneurial companies like rubric change strategy continuously. they are a very young company at only three years old. so, you want that lets ability to change. with private investors, it is much easier to do. when you get to a highly predictable stage, then an entrepreneur can choose to go public or not. we always support entrepreneurs in their choice. caroline: you never apply any pressure? >> almost never really. it is the wrong thing to do, apply treasure. caroline: you don't need exits? you must have your own needs? >> i am proud of the fact that we never worry about exits. they happened when they happen. they happen often enough, but we almost never worry about i

is forrester bracing itself for dropbox or some other not quite so airbnb, some other private companieso come public? >> i would echo what you just said.the other part of it is companiesa lot of going public with evaluations that are based on a lot of optimism about how much companies are going to spend on marketing or advertising or mobile, and isn't a strong base -- business case for revenue to justify the valuations. interestingly, you weren't only on snap, you are app dynamics. on we have seen that interesting element occur, but also the voting power with snap being taken away from shareholders. a lot of control being held by these companies. is that what we are going to see as well? >> only a few companies can pull that off. snap was going to have the demand for their deal whether they had full voting rights are not. snapnk that is unique for and a few others. when facebook went public, they had shares as well. i don't think that will be a trend. caroline: or swooping in at the last minute. >> could be. about to launch what would have been a very successful ipo. it was well oversub

many are looking for dropbox, spotify, are you looking for tech ipos?o, we had zero ipos in the first quarter of 2016. this is our 13th this year in the first quarter, and we have march and april. it is not the big tech names, which is the premise of your question. those big tech names are watching closely what happens today, and it can alter plans, pull ipos forward or backwards. i take comfort that this ipo was very smooth and they got what many describe as a health evaluation. >> do feel 2017 will be the year of yet more companies coming public? yes, absolutely. things can change. in august 2015, a very volatile day and the ipo market shot. i am not prognosticating. i'm saying the ipo's we are planning plus those in process is very high. youtube is going prime time. it announced a new service called youtube tv that will deliver tv channels to paying customers for $35 a month starting this spring. lucas shaw spoke to ceo of youtube at an event in los angeles. he started by asking her about the details of the new service. youtube, we have a lot of dema

if i remember correctly he was dropbox as a meal place, a po box, bash at eight meal place, a po box -- at a mail obc -- box. >> there's a group supervisor who is supposed to have responsibility year. at thease used, asleep switch. did it take for you to figure out -- not you personally but the organization -- how long did it take atf to figure out there was someone asleep at the switch? what happened to him? was he fired, disciplined, bonuses? >> the person retired from atf. this?a result of tell me the time span. >> i knew the employee, the oig interviewed him. he retired before the report came out and his reputation was leadert of a dynamic that was engaged. >> can you weigh in? >> i understanding he's -- my understanding is he retired in june 2012. before december 2012 when we began our review. we have talked in general that access issues to a host of things. are you having access issues at the atf? >> we are not. i want to be clear. the delay had nothing to do with any access issues. >> on a broader sense, are there access issues that you care to highlight here? >> currently we

dash put in place by the securities and exchange commission and uc silicon valley talk about whether dropbox great way -- elizabeth: they hate donald trump that they are sure to join the trump rally. >> if they are smart they are taking advantage of the good market but i can promise you this stock could not have become public and i must tell you they were selling steel pipes the stocks with my $5 rebate buying into company that has 25 to 30 billion in valuation with 500 million in sales and they lost 500 million in the last year or so buyer beware. i'm not saying the stocks aren't going higher but be careful you don't have another twitter in your hands. elizabeth: gary makes an important point here. they been posting losses for five years. >> the biggest issue i see with this ipo is only 30 million shares of the 200 le and that were offered went to outside firms and investment and retail investors. otherwise it's held real tight. for employees as well as investment. elizabeth: gary donald trump's been saying the president saying 3.2 trillion equity value-added since the election. maybe peopl

we know that many are looking towards two big, private companies whether it is dropbox, spotify, areh ipos? if you go back a year ago, we had zero ipos at all in the first quarter of 2016. this is our 13th this year in the first quarter and we have a whole bunch more in march and april. it is not the big tech names, which is the premise of your question. i will tell you, i know firsthand those big tech names are watching closely what happens today and it can alter plans, pull ipos forward or backwards. a business who runs that benefits from ipos, i take comfort that this ipo was very smooth and it got what many describe as a healthy valuation. >> do feel 2017 will be the year of yet more companies coming public? >> yes, absolutely. listen, things and change. in august 2015, a very volatile day and the ipo market shot. i am not prognosticating. i am just saying the number of ipo's we have planning a particular date plus those that are in process is very high. >> youtube is going prime time. it announced a new service called youtube tv that will deliver an assortment of major tv channe

if anyone-anyone can attend remote public dropbox you can see everything that's going on. right now, the oac has two goals. the first goal is really to get the committee of to speed, develop infrastructure and that sort of thing. at the initial meeting, we provided history of the dignity fund review the legislation and make sure everyone had the charter amendment and the implementation legislation. in orientation [inaudible] a presentation by our planner on community needs data and then identification by the group of other data information they would like. an understanding of the [inaudible] contracting process because all the funds will go through the regular process. developers of bylaws and setting the regular meeting schedule. so they took care of those things but the other really important goal right now, is to work with the oac and dos to identify priorities for the initial $6 million in funding that will be added to the fund july 1. so we have used our current needs assessment community input. we've had requests for proposals from the community committee-based organ

adam: there's a huge backlog so i think a lot of companies like spotify, airbnb, dropbox, are going tohing, hoping the ipo is successful. there's a lot of tech companies who have very lofty valuations, that their investors are hoping live up to, so a successful ipo could unclog the drain for some others to come down. francine: jim, you have personal investments. jim: they're all in a trust. i had became a minister, a trust. i actually kept it. i have views on all these things, but my trust -- francine: fair. but do you like tech companies like this? jim: yeah, i think. but my experience, i liked before i went into government, and did more and more of it, taking quite a bit of vc risk, and one of my criteria, anything, it either had to be tech or inability to with stand francine: the threat of tech. francine: but you would still buy man u? no, because you can't buy shares that give you any rights. for me, the little i've read about this, the most remarkable thing. they are not actually giving away anything. why would an institutional investor -- adam: this has been a trend with each gen

what that's going to shake out to look like, but it was signed by these companies, lyft, air bnb, dropboxerest and we know there's outspoken protest from these leaders. air bnb was tweeting right after the travel ban they would provide free housing and the lyft ceo -- excuse me, yeah, the lyft ceo would provide $1 million over four years pledging to donate that money and there are companies interestingly missing from the list. google, apple, facebook and companies that signed similar briefs in an appeals court last month after trump's first executive order. the google ceo put out this staff memo just after the travel ban saying we're upset about the impact of this order and any proposals that could impose restrictions on googlers or their families and could create barriers to bringing talent to the u.s. apple ceo tim cook who said i've heard from many of you deeply concerned about the executive order noting it is not a policy we support. very interesting that they didn't sign on now. mark zuckerberg said, like many of you, i'm concerned about the impact of the recent executive order signe

company, andall app integration platform, $100 million, but what about dropbox, spotify, maybe the thirdar many hoping will they ever come to the market? fromuch money is coming the private market, particularly institutional investors. they have not needed to come to the public market. scarlet: except there are some people who want to cash out, and banks are in those rich fees. >> goldman sachs will lead the way. in fact, goldman is winning year to date in terms of underwriting across the board. this will get them 1% to 3% fees. we have shrinking over all in the equity underwriting revenue. know 2016 was pretty lackluster in terms of ipo in the tech space. they want to run that back up. we also see goldman sachs with the stabilization role, but all banks looking to earn some fees on this and will want to see that trade pop and stay there. joe: i want to go back to uber for a second. they have had so much terrible news. everyone is excited about snap, sigh of relief. uber is huge. cooper is bigger than snap. ofre seem to be a lot questions about its business. how much anxiety is that caus

does this give the other tech prospective ipo -- i'm thinking --ut blue apron, dropbox does it give theme that things will get better? >> they have their pom-poms today, rooting for snap. you have all these companies, there is just a backlog of companies who have very high valuations from venture capitalists and other investors. many of those investors are getting to the point where they want something to happen. itsnap has a successful ipo, says a lot about these other companies. anna: i like the idea that the pom-poms would make a difference. who was going to make money out of this ipo, then? >> in some ways, this is the tech fairytale story where you have a college couple of friends who start a company. the founders will become billionaires. but just an idea for venture capitalists -- check this out, ghtspeed -- that is worth $5 million. benchmark is now worth $2.2 billion. that is basically the goldmine, if you are a venture capitalist, that outcome. manus: anna and i are developing an app as we speak. we will bring you coverage of that snap ipo throughout the day, including intervie

they are like dropbox is valued at $10 billion for years now, but resolutely has not come to the publicarket, because so much cash has been in the private market. they are willing to pour in money on a private basis, and haven't had the need to go to the public market, but now we see ushering in technology ipos like dropbox, airbnb, but they come late, what about it uber? they are having a pr disaster at the moment. ecosystem, they do want to see that money sent back into the ecosystem to help glut ofthe new states.s coming to the there is news that i could, and a third of the fourth quarter of 2017. good that they're bored give that much more cause for exuberance? a lot of these companies are having discussions with bankers coming to the ball. vonnie: thank you. turn now to john cecil. you received a little portion of the allocation you're looking for, how much? are small portion, but we looking for shares. vonnie: right. you're in the market buying more. long-termave a secular thesis. vonnie: what is it, when you ll screen, some of the weaknesses associated with snap, i want to quote

if anyone-anyone can attend remote public dropbox you can see everything that's going on. right now, the oac has two goals. the first goal is really to get the committee of to speed, develop infrastructure and that sort of thing. at the initial meeting, we provided history of the dignity fund review the legislation and make sure everyone had the charter amendment and the implementation legislation. in orientation [inaudible] a presentation by our planner on community needs data and then identification by the group of other data information they would like. an understanding of the [inaudible] contracting process because all the funds will go through the regular process. developers of bylaws and setting the regular meeting schedule. so they took care of those things but the other really important goal right now, is to work with the oac and dos to identify priorities for the initial $6 million in funding that will be added to the fund july 1. so we have used our current needs assessment community input. we've had requests for proposals from the community committee-based organ

that will be a wake-up call for companies like talent to your common spot aside, possibly the firm dropbox we think some of the larger unicorn will start that. dagen: that companies like canada goose and yeti coolers are so specific in terms of what they do and it's not much of a broad reach in terms of whether canada goose in terms of just selling code. >> that it's a very important point about how specific they are. when it comes to the consumer space, it's been a very difficult space to be in. the department stores are challenged. e-commerce is taking over. i think in terms of the ipo market when investors are interested, they will be the specific names that have a high profile which is the canada goose had and we expect to see yeti coolers. maria: does decide to go public this year? >> we think it should've gone public long time ago. >> they didn't have a cfo for a long time. dagen: they had some problems they needed to put to bed before they went ahead with the public offering. >> it had a lot of capital available to them. maria: on the private side. so why go public? kathleen smith f

if i remember correctly he was dropbox as a meal place, a po box, bash at eight meal place, a po box -- at a mail obc -- box. >> there's a group supervisor who is supposed to have responsibility year. at thease used, asleep switch. did it take for you to figure out -- not you personally but the organization -- how long did it take atf to figure out there was someone asleep at the switch? what happened to him? was he fired, disciplined, bonuses? >> the person retired from atf. this?a result of tell me the time span. >> i knew the employee, the oig interviewed him. he retired before the report came out and his reputation was leadert of a dynamic that was engaged. >> can you weigh in? >> i understanding he's -- my understanding is he retired in june 2012. before december 2012 when we began our review. we have talked in general that access issues to a host of things. are you having access issues at the atf? >> we are not. i want to be clear. the delay had nothing to do with any access issues. >> on a broader sense, are there access issues that you care to highlight here? >> currently we