and another of elon musk's projects -- the future for electric cars.he hurdles that tesla must overcome. ♪ brad: continuing with our top story, apple's billion-dollar investment in didi chuxing. didi was already a powerhouse in the ride hailing industry. the company says it owns 99% of the market for hailing cabs. existing backers include china's against internet companies. perhaps its biggest competitive advantage against uber, a four-way partnership with other car sharing services, all of whom helped the company fend off its biggest rival, uber. last month, emily chang asked didi's president about comparing with uber. guest: i would rather focus on ourselves rather than her. -- rather than looking at others. i think the industry is in an infancy stage. for us, it is more focusing on what we have to achieve brad:. -- achieve. brad: here to discuss, hans and tim higgins in washington. thank you for joining us. uber wants to get into 100 chinese cities this year. didi is in 400. does didi have a shot in china? hans: i am biased because i am invested in

this is part of elon musk's vision for transport company spacex. multiple attempts that started in january 2005. the company successfully landed two rockets in the atlantic ocean in the past two months. the launch originally scheduled for yesterday was delayed due to a small mechanical problem, but it is now set to take place in about 30 minutes' time. if it happens, we will bring it to you. >>> in the meantime, senator sanders giving hillary clinton a run for her money. in fact, some say she has a good chance of winning the california primary june 7th. we're going to talk about that. >>> and talk about mitt romney as a lone wolf, probably the last one standing against donald trump and the republican party. trump making comments earlier on hillary clinton. >> she lies so much. she was saying last night, so many things. donald trump wants to see japan get nuclear weapons. i never said that.. deirdre: romney's attacks may end up helping hillary clinton, at least that is one point of view. we're going to brief you. okay, ready? whoa! [ explosion ] not

elon musk's company has made a huge impact.e wants the new model three to make new inroads into the mainstream. >> in terms of price, it will be $35,000. >> the new tesla is much cheaper than previous models and soon many more will be on the road. the carmaker has plans to ramp up production to 500,000 annually. musk says he often spends nights at the office. demand for shares of tesla has been high on equity markets. based on market capitalization the company is one of the world most viable automakers. when it comes to revenue, they lag far behind their rivals. as has yet to turn a profit and analysts want to know how elon musk will finance the company's rapid expansion. in the past, tesla has struggled to meet production goals and be on time. the question is whether the boss can turn things around. christoph: that is indeed the question. this all sounds very ambitious and progressive and well and good, but do investors believe the hype? >> on wall street are is a lie skepticism and you only need to have a look at the stock pr

meantime, here's what else is coming up on fast. >> that's exactly what wall street is saying about elon musk. are investors growing weary of the musk empire as well? john skulley weighs in. one of the most widely followed tech investors said there is a new must-own tech stock, and it's not amazon. dan niles. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they could save you in out-of-pocket medical costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and virtually no referrals needed. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp... and provided by unitedhealthcare insurance company, which has over 30 years of experienc

elon musk.ecause -- mike: nice segue. [laughter] emily: he did at one point say, he told "recode," "none of those characters were software engineers. software engineers are more helpful, thoughtful, and smarter. they are weird, but not in the same way. i really feel like mike judge has never been to burning man, which is silicon valley. if you haven't been, you just do not get it." have you ever been to burning man, first of all? to get the record straight. mike: i have not. he is right about that. alec: he did though, just last week, light a man on fire. so -- [laughter] emily: that has to count for something. mike: one step at a time. emily: but how do you respond to that? mike: elon musk is at the top of the game here. he is not -- he might see things a little differently. i mean he, you know, i am not going to ever say that elon musk -- that i know silicon valley better than elon musk. we are looking for comedy here. we are not to just glorify and put it all up on a pedestal. emily: mark and

david: coming up, elon musk has doubled down. look at the big announcement out of the electric car company coming up next. ♪ carol: this is bloomberg go. in the next hour, we are joined to talk about a potential softening in new york's high-end real estate target. matt: first-quarter earnings beat expectations at merck. sales fell short of estimates, still they were helped by new draws including cancer treatment. merck is trying to boost revenue after or straight years of decline and trying to do and it top-selling diabetes drug, which is facing more competition. youtube is coming up with these conservatives that would allow cable tv streams over the internet. people familiar with the plan say the service can roll out next year. youtube has already had talks with most major media companies but has not walked out the right to programming. a demand for gas in the u.s. has not been this strong in almost 40 years, but is not enough to stop the supply glut. gasoline imports in the east coast are near the highest since -- in months and

and now, with the production schedule, ceo elon musk is responding to the nay-sayers and saying on the conference call, what i find ironic for the nay-sayers they transition from saying it is impossible to saying it is obvious. i say, wait a second is it obvious or impossible, because it can't be both. who is right, chanos or musk, pete? >> well, in the short term or the longer teerm term, it is chanos, and the reason i is a they is because they have had nothing but production issues for quite some time now, and the delays and the issues and now talking about ramping up, and going from 50,000 to 90,000, and supposedly getting 80,000 to 90,000 this year, and if they can get that number, it is impressi impressive. phil lebeau has been talking about i, and it is ing a graggro get to that level, and the 500,000 level in two years from now, and it is amazing, scott. we know great drives, and people are going after the model 3, and everybody put the $1,000 down, and maybe over $400,000 now, but they have to execute on the manufacturing, and so far, that is something that is definitely the la

and people like charles lindbergh and elon musk have been building on it ever since then. for the last four years, you have studied all the great who came before you and you have learned from your own mentors here at vaughn college. now it's time to make your own contributions to the great legacy of american aviation and american aerospace. but you won't just be defined by those contributions. one day it's going to be your turn to give back and help cultivate a new crop of risk takers. i guarantee you, some bright kid someday is going to call you up for device, and you may be too busy. you are going to wonder what you could possibly say to them that they would find useful. take that call anyway, because that conversation will have the potential to change someone's life. and that is how you build your legacy in this industry. by taking risks, by pursuing work that matters, and help the next generation do more than you could ever dream of. so congratulations to the class of 2016, and welcome to this industry. [applause] announcer: on wednesday and thursday, june 1 and second

elon musk's spacex recently launched a rocket and landed the booster in the oceaning on a barge -- in the ocean on a barge size of a football field. and then he did it again. that feat alone will reduce the cost of rocket launches by about 70%. now, all of these advancements were made possible because someone was willing to ask a very simple question: what if? and i bet each of you has a few what ifst in your mind right now, and with a degree from vaughn in your back pocket, you're ready to start answering some of those questions. now, that's exciting not only for me as head of the faa, but for our entire airuation try. aviation industry. because you're our next generation who will help us define what flight can be and where it's going to take us in the 21st century. we need your ideas, we need your talent, and we need you to be risk takers. now, sometimes taking risks is incredibly scary. especially right now when you're first starting out. i'm sure you're already feeling the pressure to immediately get on the right path. for some of you, maybe it seems like there are a hundred diffe

we have a guess that says apple really niece elon musk to replace tim cook.n "power lunch." this clean was like, pow! it added this other level of clean to it. it just kinda like wiped everything clean. my teeth are glowing. they are so white. i actually really like the two steps. everytime i use this together it felt like leaving the dentist's office. crest hd, 6x cleaning, 6x whitening. i would switch to crest hd over what i was using before. >>> sharing of tesla are lower today despite meeting earns expectation and bullish outlook. on the conference call last night elon musk talked about production of the new mowedle 3. >> would aim to produce 100 to 200,000 model 3s in the second half of next year. that's my expectation right now. >> as tesla ramps up production, does it make a more attractive takeover? he thinks apple should buy tesla and make elon musk the ceo. and also drew cu p. ps. this is a pretty tough thing to say. what you think is basically that tim cook isn't good enough and elon musk would be better for apple? >> yeah, tim cook is a great oper

at least part of elon musk's vision for his space transport company spacex. multiple attempts started startn january 2015. the company successfully landed two rockets in the atlantic last go months. five total this year. launch is expected to take place 30 minutes time. we'll bring it to you if it happens. >>> there is new leakedded audio raising questions about katie couric's documentary, deceptive editing is what is being examined here as far as issue of gun control goes. when we come back, a progun guest interviewed by the person who leaked video. >>> fox business, painting exclusive video of socialist venezuela unraveling. citizens pictured here. you can see raiding a truck, looking in garbage for food. economist and author ben stein with me next. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates... maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. liberty mutual insurance. ♪ ♪ (charge music) y

♪ emily: he is the owner of the world's very first model s, and an early backer of elon musk's tesland spacex. a fast talker with an unconventional investing philosophy, who once shadowed steve jobs. he has amassed one of the biggest private space collections in the world, and spends his days pondering the future of artificial intelligence, genomics, and self-driving cars. joining me today on "studio 1.0," venture capitalist and partner at draper fisher jurvetson, steve jurvetson. steve, thank you so much for being here. it is great to have you. steve: thank you. emily: i want to start in 1996. steve: oh, dear. emily: when you made an early investment in hotmail. you bet on e-mail before e-mail was anything. what did you see? steve: it is usually a combination of two things. an entrepreneur that gets me really excited, jumping out of my seat. in this case, it was sabeer bhatia and his partner, jack smith. and an idea unlike anything i had seen before. which is, wow, e-mail wherever you go, not tied to a corporate system or university server like before. it was like a lightbulb went o

spacex crews and elon musk have been toyotaing for several hours and elon musk where "you may need tosize of the rocket storage hangar," and they hope to send a falcon rocket to mars and use it commercial space flight. >> a family in the east bay is facing a big row pair quaterback after a beaumont lightning hit their home. two people were sent to the hospital after the house took a direct hit yesterday. students at o'hare middle school were evacuated when it triggered fire alarms. though got outside and realized there was lightning and went back inside. the students are fine. >> 30/30 rules comes if handy with thunderstorms, 30 seconds if you sigh lightning and you hear thunder, and before that stay in for 30 minutes after the last belt of lightning you have heard. 45 in mt. diablo at 3,800' and mid-to-upper 50s in the valley and 60 in brentwood and oakland and hayward and san jose at 57 and novato and san francisco at 54 and santa rosa is the cool spot at 52 and flight arrival delays averaging an hour and 12 minutes, and tree is grass palmen and those with allergies, i have not hear

we have a great story front page on tesla and young mosque -- and elon musk.libaba has lost a third of its value since its ipo. we will ask why, next. ♪ alibaba reports earnings before today's u.s. open. let's get the latest from selena wang in shanghai. what are investors going to be looking for from alibaba's numbers? >> investors are going to care the most about its core e-commerce business. they are looking for a comeback in revenue growth, which has slowed considerably. they're going to be watching for gross margins. they are going to be interesting in seeing how acquisitions may have impacted their bottom line. francine: why has alibaba performed poorly despite earnings growth? >> dalai lama has more than hasled profit -- alibaba more than doubled profit in the span of a year. alibaba can't really control what is going on its stock. investors see alibaba as a stock -- a proxy for the chinese economy. francine: what do investors actually want to see from alibaba's international business? >> investors are going to want to see expansion in these faster grow

that's what elon musk was hoping for when he unveiled his idea for the hyperloop back in 2013. sparking an intense competition among rival firms to build the first working model. later this morning, one of those companies will unveil its version in the las vegas desert and demonstrate how it works. >> hyperloop is immediate, safe, efficient and sustainable. >> reporter: l.a.-based hyperloop one is presenting a ten-foot long sled they say will reach 350 miles per hour in just two seconds. >> we do this and we do it well. we'll take this design, we'll build two kilometers worth of it. we'll put it inside of a tube and accelerate a vehicle ten times heavier to a speed that's twice as high. >> by the end of the year we'll hit our kitty hawk moment and do the full-scale hyperloop test and they'll be able to handle cargo and people. >> reporter: some skeptics call the design impractical in terms of moving people over long distances. elon musk is not affiliated with any hyperloop companies, but his company, spacex, is hosting a contest among college students to design and build a hype

>> elon musk planned to sell 2.8 million shares as part of the stock. hlighted musk use as collateral for personal loans. he pledged to back loans totaling $500 million. tesla's offering document notes if the stock price were to drop, musk in theory could face margin calls that would pressure the stock. musk willingness to borrow and use the cash to finance tesla, those include solar city and spacex is relatively rare among corporate executives but ceos have encountered trouble when they face margin loans most notably michael pearson had stock liquidated late last year and a few years ago, aubrey mcclendon was forced to sell much and robert stiller of green mountain coffee fell into a similar situation in 2012. because musk pledged a small amount of his 6.5 tesla stake against those loans, the prospect of a call seems remote. he's a self-imposed cap of 5% of the equity holdings for use as loan ka lcollateral and sells 2 million shares in the new offering and also donates 1.2 million additional shares to charity. so tesla shareholders don't seem to have t

>> elon musk says they do have a strong bench.obably more familiar with the number of executives who are below that vp level of the two who left, but the bottom line is this, sara, this was also a recruiting call yesterday that elon musk and the other executives from tesla had in which they said, look, if you're looking for the most ambitious and interesting and innovative product that's going to come out in the auto industry over the next two or three years, it's going to be the model 3 and we want people who want to work on that and be part of this ambitious plan to work on the model 3. the question is whether or not, a, they can find those people and, b, whether they can make this come together in a very short time period. >> colin, are you able to quantify the two main concerns. the first is the execution risk they're attempting to run before they're able to walk and what is the scale -- what new figures given these new targets do you think shareholders should expect? >> we're expecting about $2 billion in capital raised given

that's where we met." >> jimmy: pro, inventor elon musk has the mind of a a genius.me of a cologne you'd buy at cvs. [ applause ] so i'd try that. "that was my first cologne." [ applause ] "my very first cologne was elon musk." >> steve: it's like high karate and elon musk. >> jimmy: pro, being hurdled through a tube at 750 miles per hour. con, seeing a facebook meme that says, "when bae get off hyperloop." [ laughter and applause ] "a classy meme. it's beautiful. it's a very classy meme." [ laughter ] pro, they're also planning a a 3,000-mile per hour version con, it's called the diaper-poop. [ laughter and applause ] >> steve: really? you have to wear depends if you go on the thing? >> jimmy: i don't know what that means. >> steve: scare the crap out of you. [ laughter ] >> jimmy: pro, they're currently testing it in the nevada desert. con, it's called, project "no, you go first." [ laughter and applause ] "no, no, no. you'll make history, yeah, yeah. i'm giving you the opportunity. you'll be in the history book, buddy." pro, it's a 2,000-mile-long tube. con, with

elon musk launching his rocket from cape canaveral this morning. it carried a japanese communication satellite into orbit. the real test came when the rocket landed on a drone ship out at sea and they stuck that landing. musk said last week spacex's first mission to mars could be less than two years away. that might have seemed like a pipe dream. a lot of people winning the lottery seems like a pipe dream. powerball fever is gripping california. $415 million up for grabs on saturday. >> you're such a nay-sayer. "today in the bay" chuck copp a coppola. somebody's got to win, right, chuck? >> reporter: absolutely. you can't win if you don't play, they tell us. we are here at this particular chevron in milpitas. the reason why we are here is because this is the very spot that sold a winning ticket back in february two years ago that won $426 million. we figured lightning might strike twice. you can see behind me the lottery thing is signed off. you can't check your old tickets, can't sign up yet to play because they tell me the system doesn't come up

elon musk started off by saying i want to talk about the history of tesla. maybe two hours from now before we get any news. frankly, i don't expect any. this is an interesting period that we have coming up here for tesla. 2016 really sets up whether or not they can make it in 2017 and '18. look at what tesla has in terms of bench marks. in june, basically in the next month, they'll lock in the design on the model 3. that could slide a little bit. but they can't wait much longer if they want to make the first delivery by the end of 2017. in july they have the opening of the giga factory. they'll start ramping up production. that will be the first chance for the media to see it. >> they're building it now. >> the giga factory? >> yes. >> it's done essentially. it's not up to full capacity. but it's done just outside of reno. later in the year, real question is whether or not they hit at least 80,000 in annual deliveries. you know a lot of people are more than skeptical. >> is there any question they actually hit it? i don't think that could happen. i mean, wou

ryan: i have the benefit of having worked for elon musk, so i would not bet money against him in anymstance. i think it is very inspiring, what they are already accomplishing and what they have announced it it creates an interesting dynamic for the rest of the auto industry. if you bet against tesla and you are wrong, they are going to take your market share. if you bet against them and you are right, we do not have electric vehicles and we desperately need them from an environmental perspective. i think they are going as fast as they can and as fast as any company can and there are few companies in the world that can pull it off. they are one of them. emily: what do you think of the recent departures of other executives? does tesla need to hire more people to make it happen? every company that is growing and developing new technology is constantly on the hunt for great executive talent. you see a fair amount of leadership turnover in silicon valley, especially as companies evolve. i would not read into it too much. i spent a couple of years at tesla and then moved on to another role

tonight at 6:00. >> speaking of elon musk some people go to germany to pick up their mercedes or bmwea to pick up tesla. a new bill is kicking up debate in the state capital. bob week you on ski. it will increase tourism spending across the bay area and critics say it will reduce state tax revenues. critics say the tax breaks will likely apply to affluent customers who don't need tax breaks. >> that will do it for us and we hope to see you tonight at 6:00. nightly news is next. >>> tonight, behind closed doors, a wild day in washington. nbc news learning details from inside the meeting of gop powers at odds. donald trump and paul ryan. can the party unite? >>> new fallout from a police beating caught on camera. the shocking scene after a car chase. officers pummel a man on the ground. >>> up in arms. george zimmerman sparks a major new furor, auctioning off the gun he used to kill trayvon martin, calling the weapon a piece of american history. >> breaking news in the death of joan rivers, late word of a major settlement between the doctors and her daughter, melissa. >>> an alarming r

elon musk is so focused on building all these teslas, he has a sleeping bag near the assembly line. > will it be enough? scott mcgrew, musk making huge promises this morning. >> tesla has to radically ramp up production to meet demand. speed things up ten times or faster. musk says his company can do it. tesla will build 500,000 cars a year by 2018. that would be ten times what the car builder makes now. he is setting a goal starting production on tesla's model x by the second half of next year. >> tesla opened all its books to investors last night answering questions from analysts and reporters, but did not explain its recent lease of its massive warehouse system in livermore. even if musk increased production by 10x, at its current plant he still wouldn't need this facility. ramping up production will cost money, money tesla need to find despite all those $100,000 deposits. stock analysts expect tesla to do a secondary offering. gopro will report its profits today. it's run by an interesting person and makes interesting products. it's been in trouble lately with sinking sales. check

up next, let's talk about the car sector and elon musk.is working overtime, apparently enough keeps a sleeping bag in the office. what will it take to produce production in two years? ♪ guy: let's find out what is going on. we are long european equities this morning. e is climbing as well. e cac just up .1%. the energy sectors on the front foot as well. italy, italian banks and focus on the downside. i want to check on the dividend. lancaster holding, elian schneider all your losers in europe this morning. phillip lowe will replace glenn stevens for a seven-year term. diminished interest rates after the central bank told the record lows to push into the end of the mining investment boom. lowe appointed deputy governor described ashe is an exceptional economist. the aussie dollar has jumped after a better-than-expected march trading data. some of theo deficit go to 2.2 billion australian dollars from just over 3 billion a month earlier. exceededles also expectations. almost trump is a last man standing, as it only republican rival john kasi

liz: and there she goes, elon musk falcon 9 rocket launches another successful mission. did spacex stick the landing? remember these are reusable rockets! they come back! did it land? does the success mean he's one step closer to promise of a mission to mars? >>> and donald trump in the heart of coal country attacking hillary clinton. look, he's good at that. but our political panel whether the presumptive nominee will be good at something more important right now, uniting the republican party. more "countdown" on the way. . liz: spacex successfully launched a japanese communication satellite into orbit today via its unmanned falcon 9 rocket. again, this is a david and goliath story. while lockheed martin launching things for many, many years. for the second month in a row, yes, the company was able to land its first-stage rocket booster on a floating barge in the atlantic ocean off florida's coast, in the dark. look at that. there it goes. in the dark, and on top of it, these things are supposed to be reusable which will make them less expensive. fascinating. we were th

that is magic. >> and elon musk says that we should be scared. >> yeah.icial intelligence to the natural conclusion, then in fact you have smarter beings than we are who can walk and talk. and kill and control. >> although, he says that we are probably 30 years away from that, so you can rest comfortable, jon. >> i feel like it is moving in the opposite direction, and when i have a complicated travel now, i go back old school to the human travel agent and especially high value, and somebody who i can ask the detailed question, and i am not sewer that the chat bot s wis w get there any time soon. >> and maybe because you are a high net worth individual, jon, because that is what they do, their have their own travel agents. >> that is a problem. >> but as far as vr is, that is a whistle. that is all it is. >> thank you, simon. >> and up next, shares of square falling after the bell, and kayla is going the join us with a preview ahead of the exclusive interview this afternoon with ceo jack dorsey. we will be right back. zero-gra. but it's actually a triumph

even elon musk said it. look, a lot of people are going to struggle to meet the "all parts in" for this vehicle, but we're setting that as a goal at this point. >> elon musk has made his career on one hail mary after another, especially this one. this is the longest hail mary. then you suggest the design hasn't been finalized. they don't know what they're going to need from parts suppliers, right? >> right. but it's not going to be a complicated as the other two. the other thing to keep in mind, bill, most have been working with tesla, so they understand how it's supposed to be working. if they can lock it in by june of this year, tesla believes they can get these suppliers up and running by june of next year. nobody disputes it's an aggressive time frame. even elon musk has said that. the question is will we see it happening as quickly as taz la is forecasting. >> if we take him at his word, phil s it possible. i understand other car companies haven't been able to do it this fast, but is it possible for tes

elon musk say they may fall short of a profit this year. the ceo says he frequently sleeps in a conference room near the production floor to keep a close eye on operations. musk says the most important part of the plan is to hire top talent. two vice presidents just left the company this week. tesla received 325,000 orders for the model 3 which starts at $35,000. customers had to put down $1,000 deposit for delivery next year. when they showed the car, there were lines out the door. i love the idea that elon musk has a sleeping bag under his desk. >> that has happened in my office a few times. >>> new information about the final days of prince. what we're learning now about his battle with addiction. we have new information. that's next. wanna drink more water? with sodastream you turn plain water into sparkling water in seconds. and because it's so delicious, you'll drink 43% more water every day. sodastream. love your water. ♪ >>> a new picture emerging of the final days and hours of prince. he was scheduled to meet with representatives f

you also have elon musk starting his own school with a local teacher with 20 kids.e mark zuckerberg funding and giving to education more broadly. i wonder if you're back in the same position where instead of democratizing education we have public schools that everyone can afford and a few elite schools if you can afford. >> i think the spirit behind a lot of the schools, especially -- there is arate feeling that the model of modelion of this factory of the lecture, everyone moves at the same pace, you get grades. even if you get a 'c'you move on. you have gaps in your knowledge and students hit walls and they don't really appreciate the creativity of a suspect -- subject. there is an appreciation that will not serve students wealth of the 21st century. khan academy has a two-pronged approach. it's a different organization than the lab school. that's what everything about let's share as broadly and widely as possible. it's literally a free world-class education for anyone anywhere. you can access the smartphone insult educate yourself. if you're part of the physical

elon musk takes shareholders down memory lane at the annual meeting. we will bring you the details. uber gets a million dollar credit line from wall street. it may help the company grow but how do drivers deal? the white house looks to sponsor entrepreneurship in africa. assistanteak to the secretary of african affairs for more details will -- details. the tesla shareholder meeting is underway with elon musk treating investors to something different -- a look back at the history of the company, it's beginning, it's motivation and the story of what has happened over the years. : we always try to do the right thing. we care about that. when we make mistakes, it's because we are being foolish or stupid or whatever. always made with the right motivations. walk through tesla's origin story comes a time when tesla is trying to meet an ambitious production schedule for its model three. many analysts have said getting it right is likely to make or break tesla. we are joined by someone who was with tesla from the very beginning. ian wright. he's now developing electric powered trains for lar

maybe they can raise it on kickstarter knowing elon musk. >> there's going to be a capital raise. there's going to be a capital raise. elon musk said it ee either going to happen in the form of debt or equity or some pham of operation. you cannot expand production to this degree without needing that money at least for a cash cushion for the company overall. >> yeah. lardless as mentioned even as they try to ramp up production. phil, thank you. >> you never see a skeptical on tre pre nufrmt there's never a douchlt that's how they are. >> you need guys like that, dreamers and people willing to fail. >> let's see if they can do this. we're heading to a close here. we'll see if it can turn possible tij. the nasdaq down 6 3/4. >>> coming up, gopro, squared and wynn next. >>> up next from hollywood, walking, here he comes. carl reiner to talk his new film and his thoughts on the presidential race, and he has a couple of them. stay tuned. >>> we started with it. we already started talking. an award winning actor and filmmaker with such classics as "the princess bride," ted cruz's favorit

in 2013, entrepreneur elon musk first unveiled the futuristic idea as a cheaper faster alternative toalifornia's controversial high speed rail project. but the ceo of tesla and spacex. >> two, one. >> reporter: challenged others to go out and develop the concept. hyper hoop one is one company stepping up, another hyper loop transportation technologies which is working to build a five-mile hyper loop test system in central california. >> 760 miles per hour. we're completely solar powered. >> the idea to transport passengers from l.a. to san francisco in just 30 minutes now this test topping out at 116 miles per hour is a start, just don't call it a train. >> ain't no train. >> reporter: brandi hitt, abc news, los angeles. >> just don't call it a train. it is super cool. they're hoping to have a three-mile version of that later on this year. >> i'm voting for the hamptons hyper loop. >> that would be very. >> how awesome is elon musk though. >> very 1% of you. >> the man is going to take over the world. >> he is. >> you would have to be 1% to go to the hamptons to get anywhere around th

today tesla c- e-o elon musk tweeted: "sounds like the wrong thing happened on many levels. will investigate to make it right." san mateo will keep using r light cameras... despite so costly glitches. the cameras brought in more than 200 thousand dollars in revenue last year. but the city had to refund nearly a thousand tickets... because yellow lights at two intersections had been set o short. tonight the city council unanimously approved a two- year contra extension with the camera operator. the number of collisions from red light violations has dropped shary since cameras were installe the bees that terrorized a concord neighborhood over t weekend, are pretty much go tonight. now, we've heard about killer bees for yearst here in the bay area - we haven't seen anything like s before. mike sugerman asked: what's behind the sudden aggression? track 1 there are tens of thousands of bay area backy with bee hives. this one isn george chavez'. and taking any chances. he lives about a mile-and-a-half from where that aggressive was. he sent us this video.. and told us.. he ca in a

elon musk will boost the shareholdings, offering about $1.4 billion of stock. elon musk is exercising his options to buy about five and a half million shares of tesla. you can see tesla shares falling $223 and $.20. let's bring in our guests, our chief economist, and our stockmarket reporter for "bloomberg news. news." "bloomberg sound like june is a possibility to go with a really big if, if all of the data cooperates, and then in the very next sentence, there is a range as to when the data will fall in line, and then they went further to say there is further significant doubts as to whether there is enough information to even declare to sound the all clear. joe: yes. headline was dramatic. this is a job ever but not really pounding the table for june. joe: but be shifted expectations , a sense that we will hike rates in june if the data supports hiking rates in june. can you see why the markets took it as a hawkish surprise? see whysolutely, i can they took it that way, but maybe it was a bit overdone. there was a communications agenda from the fed. they are

he also have elon musk starting his own school.ark zuckerberg giving dodge occasion and starting his own school. i wonder if we are back in the same position, instead of democratizing education, we have a public school everyone can afford, and a few elite schools that few people can afford. sal: i think the spirit behind a lot of the schools, especially the lab school, is there is a feeling that the model of education -- this is not just public schools, it's also the model and private schools. a factory model of a lecture, everyone is at the same pace, you get grades.even if you get a c in algebra, you are moved on to precalculus, and you have gaps in knowledge. the students hit walls,, and they don't appreciate the creativity of a subject. there's an appreciation that will not serve students well for the 21st century. at khan academy, we have a two-pronged approach. khan academy itself, different from the lab school,, we think, let's share as broadly and widely as possible. it's free access for anyone anywhere. if you have nothing

we've never seen the likes of elon musk in our lives. picking number that suit him and he is not the least bit concerned about the consequence of being wrong. tesla is losing about 19,059 a car. a new record high, thank you for that calculation. second, despite failing to even make the number of cars that he promised for the quarter, 17,000, well below the 19,000 and change that was expected, he is now announcing that they make 500,000 cars by 2018 and a million by 2020. his transparency is shameless. while he boasts the seemingly impossible, i use the word seemingly because otherwise i would be calling him a liar and i think he believes his own numbers. he uses the forecasts to raise money from wall street and to get people to send tesla money as deposits for new cars. you can't make it up. whoever but musk would say in a conference call, if you place your order now, there is a high probability you'll actually receive your car in 2018. he's using the darn projection to sell cars. and then he uses it to give tesla a chance to, and i quot

a pricey one. >> a elon musk premium.one of those consumer brands people are so passionate about. almost like apple if you dialed it back five years. and that is where you get that premium. and we can discuss whether or not that is jufd. >> we got to move on to earnings -- >> go ahead phil. >> real quick. just to people understand at home, the target that's the la has set for production in 2018, a half a million vehicles. the most optimistic analyst on wall street believes the most they will be able to produce is about 340,000 vehicles. so even the most optimistic think they are not going to be able to come anywhere close to that. >> great point and thank you phil. >>> urban outfitters reporting first quarter results in line for earnings. 25 cents a share. that is what analysts were looking for. revenue higher than expected at 763 million. compares to 759 million for consensus. comparable sales of 1%. many analysts the consensus looking for a decrease. so that is a beat a pretty short release so we'll hear what they have

ramy: in this edition of "out of this world," spacex has done a for the second time in a month -- elon musk'smercial space venture has landed a rocket on an ocean platform. the booster touched down after launching a japanese can indication satellite. musk put the chances of a successful landing "maybe even" this time. this was a key test for spacex, which hopes to begin reusing unmanned rockets as early as this summer to lower the cost of each launch. facex remains -- spacex remains the only company to recover a rocket from launch. company also recovered a rocket, but it never reached orbit. fireeye shares took a big hit on friday, plunging 20% off the back of the company's latest earnings report. the cyber security company posted an adjusted loss per share better than estimates, but it was the guidance investors zero day none. fire i said it's second-quarter loss -- fireeye said its second-quarter loss would be larger than expected, and second quarter losses are down from $815 million previously. despite the numbers, they announced a changing of the guard. president kevin mandia will take ov

. >> he's talking about the rolling stones, elon musk and virgin america airlines. home? >> maybe next time. sir richard branson, one of the most successful people on the planet. he has been knighted and is a billionaire several times over. we spoke to him about silicon valley, space, music and that certain airline. sir richard branson is always ready to talk tech. >> i think self-driving cars is fantastic. >> reporter: he is, after all, in a race with fellow billionaire, elon musk to take us into space. >> we're great friends. but obviously, there's a little bit of rivalry there. >> reporter: and says his newest virgin spaceship is flying test runs while he plans supersonic ways to bring internet to the world. >> we're building, you know, enormous rockets that can attach to the wing of a 747 to send a whole mass array of satellites around the earth so the 4 billion people who are not connected can be connected. >> reporter: life is pretty good for branson. but there are regrets, including losing the bay area's own virgin america to alaskan airlines in a sale. >> i'

lauren: a company called hyperlipoidemia conducted a test yesterday built in an elon musk saikia that could lead to super speed travel. it tested a propulsion system essential to the transportation invention. and the task on a sled tipped down the track for two seconds. you've got to watch this. you might miss it. it crashed into a pile of sand. it is one of the startups hoping to commercialize the idea that billionaire inventor new-line musk came up with in 2013. his ideas to transfer people low-pressure tubes at almost 800 miles an hour, nearly the speed of sound. that would allow traveling between san francisco and los angeles in just 30 minutes. super fast. nicole: ralph iran is one of the stocks will wash today. the fourth-quarter profit and sales this morning have been hurt by sasha misses from intense competition from fast fashion of your customers and departments doors. a one-year chart doesn't look good and 8450. who also can't results in the antivirus software can't meet with disappointing profits last month. investors will look for any update on search with michael brown wh

the total sale will be about $2 billion, with the rest of the shares to be sold by ceo elon musk.s in france's technique have jumped after it said it will merge with smt technologies. the all stock deal will see shareholders at technique get to shares in the new company. the company says they will deliver at least $400 million in annual pretax savings. has reported first-quarter profit that beat analyst estimates. earnings excluding some costs rose 27% to 1.1 billion euros. that was believed by the acquisition of sigma-aldrich. slumpedook shares have this morning after the travel operator said underlying earnings before interest and taxes will be at the lower end of analyst estimates. the company said summer bookings have fallen after terror attacks in turkey and belgium. that is the bloomberg business flash. francine: thank you so much. let's get more on the disappearance of that egypt airplane. the minister has already said it is too early to call the incident and accident. let's get more with our middle east editor, in dubai. i guess we are getting conflicting reports. we know

another accelerating on the same day that they lose two top bps for production, elon musk was just onhe call talking about how they have some announcements lined up about who might be stepping into these production and manufacturing jobs. things andl these have this ability. but they keep losing all their talent. and their salaries are some of the lowest in the car business for the same positions. it's definitely a huge risk. but plugging one person and to replace another, you can do all kinds of things with that. with a history of the industry proves is that it is culture. that drives quality manufacturing toyota has proven that. tesla still is not shown it can really develop a long-term focused culture that makes these improvement. we see this back-and-forth and forth, up and down, all-around. emily: what about the model 3. they will belike able to stick to that price of $35,000? >> i think they have to at this point. what i have heard is that some of the orders, the majority of the orders on the reservations online are coming in well above $40,000 or $45,000. whether or not they tr

hillary clinton is doing well getting the big, bold names like elon musk and sheryl sandberg, and thosee who help her tap into the social network of movers and shakers in the valley. emily: this is increasingly important as companies are lobbying more than ever in washington and we were speaking moreer about facebook powerful than ever in shaping what we see and hear. david: that's one reason why they do not want to be too strongly for either party because they want both parties to do their bidding to some significant degree, but i do think there is a lot of rationality. one thing i keep thinking about, though, and that it have to believe is a actor is none of the candidates in either party have been talking about tech transforming the economy, which is a holy grail in silicon valley, and you would never know listeningdy talk that to the presidential race, which has got to be disturbing to a lot of people. emily: the california primary is coming up and it could certainly be influential. how do we expect that to play out? tim: not as exciting as when we thought ted cruz would be going ag

ceo elon musk is watching closely. he keeps a sleeping bag at his fact jury. those stories and more coming up. looking in a show where we see the market pretty much muted trading session in opposite directions. the nikkei is still closed as well. markets in korea -close-brace holiday. markets edging higher in the u.s. are also looking up what might be a higher open. the ftse in london, caci france or higher. this is what we've got now. dow futures at 55 points, nasdaq futures training to the upside as well up 16-point. here is our lovely panel this morning. with me for the show this morning, fox business network transport. matt murray is here. and fox news contributor, mr. pete, always good to have you. let's get right to it. we've got a camera sign up your blackstone chairman and ceo steve schwartzman will be joining us. hartman globetrotter howard smith. former presidential candidate ralph nader will be here. murray -- bob murray. and jim wilkinson. it will be a great show. meanwhile, in donald jay trump now the presumptive nominee for the president of the u