alix: joining us now is emily chang. and leave spoke to dick costolo, what is your take on the news? shocked this has happened. i've talked to people close to twitter, the founders at times, all of them have been publicly supportive of dick costolo as ceo. he told me time and again that he will be the ceo of this company and the skills he has support, and now we hear that jack dorsey is coming in as interim ceo. a guy who is running and other ,ompany -- another company square. there has been momentum behind investors who are not happy with twitter's performance. you and i were just talking things -- thinks twitter can do to make things better. in that moment, -- thought that dick costolo could get things done. is, one billion people have come to twitter and have not stuck around. this is a company suffering user growth, lagging user growth. this is a company that many people think can be bigger than it is. so much is going on on twitter, ise tweets, but that stuff too difficult for regular people who do not understand th

alix: emily chang is at the event with game developer tim sweeney. take it away. y: lot of excitement in the games community. the improvement for games on apple computers is about 10 times better. a dramatic improvement. emily: how long have you been waiting for apple to do this? tim: apple created the metal ati, a low-level graphic chip. it is inspired by the graphics interface on consul machines. e machines.l emily: how big a -- how big is this for u.s. a developer? can create games that are graphically much richer, especially with dynamic objects, destructible environments, huge numbers of realistic objects. those are the things it will enable us to do. emily: what does this mean with the entertainment and gaming community moving forward with virtual reality? tim: all these moves require graphic performance. is a keymprovement enabling technology. i think it will accelerate the pace of development for all these markets. biggest news and on announcedhen apple swift. what does that mean? debuted its last year it was for apple platforms, ios devices. and this bring

. ♪ emily: i am emily chang. welcome to a special edition of "bloomberg west".e are live in san francisco. investors bet on yahoo!. marissa mayer says her plan to spin off the company is going according to plan. we will hear from the most innovative entrepreneurs at the bloomberg technology conference, including a company -- and i will introduce you to the nexus of wardrobe. that is all next. we begin with dick costolo. he spoke to his earlier today. just days after his announcement that he is out of the top job at twitter. the stock fell to its lowest point after a fresh analyst downgrade. investors are awaiting any sign. he spoke to bloomberg businessweek about what it takes to be a good ceo. >> great ceos are a balance of resilience gritty and resilient, but self-aware. you have to have that combination. just as importantly he has this fluency about the way he thinks about the product and the way he thinks about its potential that almost is remarkable. >> the doubt the skepticism, is this a real search? whether jack is being queued up as the next ceo because

to bring in emily chang, "bloomberg west" anchor. terview, and did she talk about anymore layoffs? emily: she said more layoffs are coming. as you know, they are racking up another $1 billion in restructuring charges, and potentially $2 billion in the services division. i tried to pin her down on the numbers, but she just doesn't know. she said she does know they will have to let go of more people. she has already laid off 55,000 people. she did add there will be job creation as a part of this strategy, but we are looking at three more years before this restructuring ends. at that point, is that when the cost-cutting ends and the restructuring ends? and she said she just doesn't know. she doesn't want to make a predictive forecast, but also said they need to get the company back to the lien and innovative company she believes it can be. her salary, her bonus and compensation are tied to the stock price in many cases. what other metrics is using to measure success? emily: she really believes is about focusing on four areas. one of them

whitman, ceoay meg of hewlett-packard, sat down with emily chang to discuss what is worth paying up fornd what is not. i think what you are seeing quite a bit of increase in m&a activity is our industry is changing. about every 10-15 years in technology i see tech tonic shave -- shift plates go to the main server environment. nowuld say web 1.02 mobility and web services. we are on the cusp of another enormous change. when that happens, the industry rearranges it self. we're back in the m&a game now that we have repaired our balance sheet. we bought aruba. context stream eucalyptus. we will augment our core innovation we do internally, innovation, organic but we want to be smart about it. the aruba acquisition was perfect. a good position in networking. we add that to the core business . now we have a terrific value proposition to offer their customers on the occasion of virtually everyone on the campus and branch networks are going to wireless. does anyone plug into an ?thernet cable anymore i don't think so. >> i hope not certainly. will see moree consolidation? >> i do think we will

. ♪ emily: i'm emily chang, this is "bloomberg west."potify lands a huge round of funding over and eight billion dollar valuation and 20 million new subscribers. is it enough to fight off apple? air b&b tells the sec to back off. i will be joined by robin chase. and i will introduce you to what may be the mays -- the most tech savvy school on the planet. all of that, head on "bloomberg west." now to our lead, tesla shares took a hit today after elon musk announced that his cfo wants to retire. a tesla veteran, there from the early days. as he said on stage last night he has steered tesla through some tough times. there was also more promising news, the tesla suv is on track for delivery in three months to four months and construction for the giga factory, the giant that are he planned, is moving along. here to discuss it with me is robin chase, the author of open vote or think," cofounder of zip car, and our own matt miller. then, i want to start with you. the cfo retiring, how big a loss is that? then: he is an important figure that car

i'm emily chang and this is bloomberg west. the uber christmas model coming under threat in california. nintendo looks back to move forward and partners with activision. we'll get the latest from e3. i sit down with the ceo who gives me new details about how much they are selling. all of that i had on "bloomberg west." fitbit is expected to set a price for its ipo. it plans to offer class a shares for $17 to $19 apiece. as soon as tomorrow fitbit will begin trading on the new york stock exchange under the symbol fit. oracle shares plumbing in extended trading with quarterly shares in profits falling way short of what wall street wanted to see. oracle placing blame on something plating -- plaguing many seleka and valley companies , the strengthening dollar. we've seen hp struggled with this and facebook struggle with it. how much of this is the strong dollar, and how much is it just oracle not performing? grexit's accommodation aboard -- commendation >> it's a combination of both. it's partly a transition to the cloud. they were

they are capable of making changes. emilyey also made a pretty big dramatic exit from china and their business has suffered significantly because of that. they are still operating out of hong kong but it is made a big challenge for the business. ok andreas and eileen, thank you both. now today and out of this world, nasa has announced a mission to jupiter's moon europa. a space launch is happening in 2020. another nasa funded project has come to an end. six scientists have come out of isolation. they were living under a dor and evokein a dome in hawaii for eight months. it provided atmospheric similar to mars. next one week after dick costolo announced he was stepping down as ceo of twitter, they are adding a new streaming strategy. we have all the details. ♪ emily: we turn to the daily byte -- 65%. that is how much google searches for e3 increased this year. it is the most interest the convention has gotten since it started following searches in 2004. most of the traficant from taiwan, the u.k., the u.s. and canada. if you h

emily: how has your personal life change now that you are rich and famous? : people would be surprised. it is not that different. i still spend most of my waking hours thinking about dropbox. emily: you have been on silicon valley. drew: i had a very important role standing there at a party. it is fun. i look at all of this as a new series of interesting experiences. emily: what is next for drew houston? drew: we have a lot work to do. emily: what do you want your place in silicon valley history to be? drew: the two things we really care about are we want to create a great company, a place were people can do their best work and our culture is a little -- we admire all of the other companies but we have our own distinctive culture and there is a handful of aspects we really want to preserve. for me, it is we are a pretty big scale now. what does it mean? what are ways that we can go even further? build this kind of treasure. this home for everybody's most important stuff is something that matters to a lot of people. emily: have you ever regretted not selling?

emily: it's not overwhelming? >> not for me. i think the changes make it more functional. native apps will be a big deal. lot of the things that are he popped up will be addressed. emily: the availability of native apps, the speed and efficiency will all improve. lots of things air -- they are talking about our far in the future. >> something that involves lots of pieces will take a long time. i think that is the long-term vision, when this is my identity and i interact with my environment. you need to get there first. i can look down and see the sports score. it gives it a reason to exist until it becomes a center of your existence. emily: what has it been like for you developing for the watch? >> it is a brand-new platform. that is the most difficult and. a new environment. have to wait for it to mature. at the end of the day, it is a new model for interacting with information. i think that is the innovative part. the platform will develop, more apps will happen. it has a great future. it is in the early days. emily: any revisions to how big you think the business can become? >> we said this would he th

i'm emily chang. this is bloomberg west. unhappy read it users flock to a new website after ellen pao ban on harassment groups. and what to expect from the world's most important gaming convention, e 3. first to our lead. jack dorsey returns to twitter as interim ceo. is it his steve jobs moment? the ceo is stepping down after five years at the helm and pressure from wall street. dorsey was pushed out from the top position in 2008. he remained as chairman even after he left to focus on it his payment startup square. twitter shares closed higher. if not decor jacobin who -- not dick or jack, then who should return to twitter? the interview is part of a longer conversation on the aftermath of the ellen pao trial. the first interview given by the firm after the verdict. today i asked about twitter. guest: he has done a fabulous job. they are going to do over $2 billion this year in the course of those five or so years. he took the company value from $3 billion to $24 billion. it is a hard thing to be a ceo of a public company.

♪ emily: i am emily chang. it this is bloomberg west. plus, is it a tech bubble or tech boom?ow long the good times will last. big moves in that streaming industry ahead of apple's announcement. all of that, ahead on bloomberg west. dish network in talks to buy t-mobile for years, but no indication a deal is imminent. still recent reports of a potential tie up have sent t-mobile shares up 2.5%. it would put the ceo at the top of the company, while dishes ceo , but together these companies have market value of $64 billion. good a deal like this help streaming customers question mar? alex sherman has been reporting on this. and a senior analyst from new york. you have been working the phones and you have status updates. >> the wall street journal reported this morning that the two companies are in talks which is something that we had known for a while. they sort of through in a caveat on price restructure, but that is everything. can these two companies come to an agreement where t-mobile is willing to take some proportion of dish stock and cash? what's the premium going to be?

. ♪ i am emily chang. this is bloomberg west. box teams up with ibm.he corporate race for customers. john scully has a plan to disrupt ibm salesforce, and oracle. he is here to tell us a about his new company. motorola solutions data and drums to fight crime, but is it leading to eight robocop huger? to our lead. dropbox growing rapidly. in an exclusive interview, ceo told me that user base has jumped to 400 million. it is being used in 8 million businesses. dropbox is by that $10 billion. rivals are catching up. -- dropbox is valued at $10 billion. microsoft is gaining ground at 19% and box at 15%. i asked him about the company's rapid rise and plans to go public. >> 8 million businesses. itron of room to grow. -- a ton of room to grow. if you look at how valuable that problem is. the people things that people put in their dropbox are the most valuable. making a company's team productive, a safe place for their information, that's extremely viable things. we just partnered with microsoft last year to build dropbox natively into office. there is a lot

emily chang has more from there.le's partners and developers gathered here for the worldwide developers conference perhaps of the biggest announcement today was apple music. we have been expecting it for weeks if not months. doingrevealed what it is with a beats music service into bot four $3 billion. a long time, veteran took the stage, the most magnetic of any of the executives who took the stage and unveiled apple music. it is trying to do a lot at once. you can abide music and stream music here. they are launching a global service 20 47 curated by real human djs and a kind of social network for artist to share photos and share mixed playlist and things like that. pper, taken the stage to show his support for apple music. not perform. it is validation at that big names in the music industry are standing behind at this. it will be interesting to see how it impact spotify and pandora. we spoke with a guy called dave tracks.whole runs 8 women presenting. it is the first time a woman has presented at an apple keynote.

and they changed passbook it is going to be called wallet. emily sounds a little like google wallet but we will leave that out. doesn't microsoft already do that? that is spotify -- you see apple borrowing things from other companies and integrate them. guest: that is normal. i tend to believe if it is a good idea it's more discovered been created. it's like the iphone, once there is a rectangular touchscreen, they are all going to be like that. emily: we see a lot of enhancements to ios nine. how important is that in your own app development? guest: in the past couple of years, they have been more friendly towards developers and that activity apps in general. a lot of what they announced today will make a big difference in that activity. the ability to run to apps at once and go between them, the enhanced search capabilities are good the new stuff on the watch is going to be good. i think evernote and productivity is going to get a boost. emily: overall a refinement? guest: they focused on the user experience today and increased security. emily: a

emily: we will take a look at how a potential merger between t-mobile and dish could change the landscape if it happens. ♪ emily: i am emily chang. and this is bloomberg west. should facebook be worried if google listens to chris sacca and buy twitter? is it a tech bubble or tech boom? how long the good times will last. big moves in the streaming music industry ahead of apple's announcement. how soundcloud is storing up its market share. all of that ahead on bloomberg west. dish network has been in talks to buy t-mobile for years, but no indication a deal is imminent. still, recent reports of a potential tie up have sent t-mobile shares up 2.5%. the deal would put the ceo at the top of the comedy -- the top of the company while the dish ceo would be chairman, but the purchase price has not been decided, but together these companies have market value of $64 billion. will a good a deal like this help streaming customers? joining us now, alex sherman who has been reporting on this. we also had keith, who -- we had keith, who will be with us throughout the show, and we also have a senior anal

emily chang sits down with him for studio 1.0. he joins now from san francisco. ait to hear this conversation. what was the big take away? emily: he thinks google would love to buy twitter along with facebook and microsoft and alibaba and that these companies all have something twitter could add a lot to but he is not campaigning publicly or privately for twitter to be sold. he just wants twitter to be better. he feels there have been a lot of lost years and there has been a lot of turnover there. he recently released what he thinks twitter can be. he thinks this is where twitter should be now. i asked him, i was interested to know how twitter and people within it have responded to these thoughts. take a listen to what he had to say. from him?e you heard to datenot talk frequently anyway. we are pals but it is not how to the ordinary that i hear from him. i talked to other people. thats a well-received post i think, done right, sets them up for success. it points wall street in the direction of, this is how you evaluate the company. you should not be headhunting w

emily chang will be with us. ♪ , i'm oliviaome back sterns. some breaking news.r kirk kerkorian, the investor, died at the age of 98. we will see if we can get more details, but that is the headline for now. bloomberg technology conference code and the corner office is in san francisco now. they are bringing together entrepreneurs and business leaders to talk about the impact of coding and software. emily chang is there. i know you spoke with airbnb's cofounder last night, what did you talk about? conversationtimate with a cofounder of airbnb, nathan blecharcyzk. he focused on china who says -- and says that china is the biggest growing market. one of the things he talks about is how fast airbnb is growing. i stopped paying attention to the numbers. it surpassed all expectations. my expectation is that this company would be a side project, frankly. materialized into something so huge and transformative it is hard to understand what the numbers mean. so no indication on when they will go public, but there is an eeo said that airbnb will be public. nathan told us l

i am emily chang. and this is bloomberg west. should facebook be worried if they listen to chris sacca and by twitter? is it a tech bubble or tech boom? how long the good times will last. big moves in that streaming music industry ahead of apple's announcement. how sound cloud is storing up its market share. all of that ahead on bloomberg west. dish network in talks to buy t-mobile for years, but no indication a deal is imminent. still, recent reports of a potential tie up have sent t-mobile shares up 2.5%. the deal would put the ceo at the top of the company, but -- the purchase price is not been decided, but together these companies have market value of $64 billion. will a good a deal like this help streaming customers? joining us now, alex sherman, who has been reporting on this. we also have a senior analyst from new york. alex, you have been working the phones and you have status updates. >> the wall street journal reported this morning that the two companies are in talks which is something that we have known for a while. no

that is emily chang joining us from san francisco.still looking at triple digit selloff coming off the market today, and we will also look at the high-yield market, coming back after this. ♪ alix: we are going to turn out to global markets. saudi arabia is not just flexing its might in the region, but saudi arabia boosted oil production to the highest in three decades last march. earlier today, billionaire saudi lawaleed talks about how this is working. alawaleed: they are accepting the fact that they are fracking in northern production states, it is so high, and the united states last month took over saudi arabia by producing more than 10.3 billion barrels -- million barrels a day. that came to the surprise of all. saudi arabia will continue and it is just one part of that equation. we decided to keep production the amount of oil used by people in countries on a daily basis. >> is saudi arabia comfortable with that? is that the right price? alawaleed: it has to be based on supply and demand. i think that price at $60 a it'sl, maybe [

and others question mark emily chang joins us now.ading a he's by eli thing that there are going to be workarounds for government. annalee: i read that also. he seemed to follow the side of allah takes. likely going to pass this bill and it's going to be kicked back to the house. we will speak with the chairman of the house judiciary committee about what he thinks about the amendment the senate is proposing. are there any poison pills? when will the house take this up? certainly the debate about how much data the government should be able to collect is not ending today and is not going to and any time soon so long as congress is looking at these issues. as well as what does this really mean for tech companies? an issue to debate? there are probably workarounds, but how important is it? not necessarily that important. we have been documenting the huge shift in u.s. intimate when it comes to this from 9/11 to this day 14 years later. an interesting point -- if you are a terrorist -- it seems public opinion is weighing on the side of we

scarlet: that was the vox ceo aaron levie speaking with bloomberg west anchor emily chang.ming up. ford sees a future with self driving cars and that is making it moves. the ford ceo is next. ♪ scarlet: welcome back. this is not your father's ford motor. the automaker is driving deeper into the card sharer business by helping people rent out their cars when they're not using them. the ceo explains how the program will work. offer to 14,000 customers here in the u.s. and 12,000 customers in london, for those customers that finance their vehicles through ford eight, working through company called get around, and a card club in london, customers will be able to rent vehicles out to earn money to do things pay their car payment or earn a few extra dollars. on the go drive pilot we're launching in london, we're offering that up to 2000 folks and it is unique in the industry around the world. to have aa customer car sharing service, pay-as-you-go, you can go one way if you want. importantly, when you go one way, there will be designated parking spots reserved. if you think about

. : i'm brad stone in for emily chain -- chang and this is bloomberg west. coming up, leaders of streaming business sound off on apple's new music platform. i will ask pandora and rhapsody how they went on competing with tim cook. plus, investors are betting on plans for a stock split at netflix's shareholder meeting today. we have everything you need to know. and activist investor paul singer takes another shot at samsung's lee family. all that ahead on "bloomberg west." now to the lead -- jack ma has big dreams for alibaba and they center around american businesses. speaking to the economic club of new york, he said he aims to reach 2 billion customers and

pimm: in the firm's first interview since the trial, emily chang spoke with john doerr in an exclusiveerview. emily joins us now. emily, tell us about this conversation. hey, pimm and scarlet, very interesting to hear what they had to say, we have not heard from them in a really long time except for when they were on the stand. won inid that we won, we court, but they know that there was a different ruling in the court of public opinion. take a listen. so tell us about ellen, she was your chief of staff, you were her mentor. how did you feel when she was suing? john: i was sick. it was painful. ellen was a good chief of staff. but when i read the charges, i knew from that very moment that these had no merit. howy: how aware of you -- aware were you of the situation? john: you know, i would rather not get into the past. ellen did some really good things, and i wish her well. emily: now she is the ceo of reddit. she is making some old moves -- bold moves. john: there is a difference between being an operator and being an investor, and i think alan can be a very great -- ell en can be a v

i'm emily chang and this is "bloomberg west." coming up, snapchat turns head in the advertising agency. former paypal ceo will harris is here. what he sees in its future sever from ebay. and tech titans and rivals band together to form coding standards all machines can understand. blackberry's turnaround plan may be working. sales fell 32% in the first quarter, but the big surprise is software revenue, jumping 153% to $137 million. the stock spiked on the news but fell, closing down 4%. here's the breakdown. that software number is more than double from a year ago. that's all part of john thain's plan to transition from a smartphone company to a software and services company. i spoke to him about his software success and whether blackberry will ever start -- stop making those crack berries. john: it is essentially doing quite steady. am i disappointed? i would love to see a good growth rate that it shows they have been very loyal. feedback has been high. that means people like the phone. on that score, i am satisfied. on the scor

emily chang spoke with meg whitman about the split in an exclusive interview. id she tell you about this turnaround for hewlett-packard? details from her about when she started thinking about this split. she said, last spring she went to the board and said, i know there has been talk about splitting the company. she said, i really do think this is the right decision, in terms of getting the board to do it, it was an emotional journey. this is a company that has been around for 80 years. she believed that this was the right choice. it has not been an easy ride for her, she has been a 3.5 years. coming into it, there were things that she didn't expect. look how she describes her experience. >> it is hard. whenever you come into a turnaround, i have done a couple of them, it is harder than you think. even though i was on the board you find out things that you couldn't see as a board member. the company has been through a lot. perseverance, you get up every morning and you fight the good fight and you win hearts and minds of people in the restore the customer servic

i am emily chang and welcome to a special edition of "bloomberg west." i'm coming to you live from las vegas where hewlett-packard is holding his discover conference. later i will be joined by martin fink and i will also be speaking with the hp ceo meg whitman. also outlining ipo plans and why aren't there are more ed tech unicorns? i will be joined by blackboard's ceo, all ahead. first pinterest moves into e-commerce. pinners will be able to purchase directly through the website with i/o bowl pins they are calling -- with buyable pins, they are calling it. you will be able to pay with apple pay or your credit card and they are working with stripe and braintree as payment partners. sarah frier covers interest for us. she was at interest when they made this announcement. so, pinterest users have wanted to see a company get into this. will they need to leave interest if they want to search on amazon or google if i want to buy a? >> you will have a blue price tag at the bottom of pins on your site. whether that changes the experience of pinterest and makes

think so much, bloomberg west anchor emily chang.o come on the bloomberg market day -- will be doubt turn negative again for the year? we will look at the selloff. adam parker from morgan stanley is here in. we will discuss. ♪ alix: this is bloomberg market day. hewlett-packard is said to be near a deal to acquire computer science. joins us.an hey, alex. alex: hey, alix. hp was workingas on a deal to potentially announce it was going to split into two, and when that deal fell apart, that's when they went ahead and said, ok, well, we are not going to sell to hp. at our plan b is to put it into two companies and follow the track of any other large enterprise tech companies that made the same decision over the past 12 months. there are others who have made the same decision, trying to spin off the acquisition as a company. the other side of hb is the pc and printer business and that would go along in the enterprise as this would have been bought out. another company could return to this. they have preliminary discussions to intentionall

i'm emily chang and this is "bloomberg west." uber's main rival in china's super sizing its valuation. will it to terror the ceo's grand chinese land? ibm is scoring hundreds of millions of dollars in data technology. we will hear about their new center in san francisco. and e3 goes wild for "fallout 4 ." one of the brains behind it joins us on "bloomberg west." alibaba is turning up the heat on netflix, as am -- amazon prime and hbo go, entering the video streaming market. jack ma is building his own aversion in china and it will have its own original content and programs bought overseas. alibaba has been on the hunt for new revenue streams and has been trying to tap into their online video market but will he be able to compete with more established streaming competitors inside china? join me to discuss it, we have the wedbush managing director and the bda china chairman and from new york jeff from polaris advisors. i would like to lay out the landscape in china as it is now because alibaba would be a very small player in this m

♪ i'm emily chang, this is bloomberg west., too big shareholder -- ings happening insert san francisco. investors are told that they need to continue taking big risks. we are counting down to the twitter shareholder meeting. will the company be able to improve how it's received on wall street? silicon valley, monetizing user data. what changes do they want to see at facebook and google? welcome to the. born

changing as we speak. this is very revolutionary right now. emilyan expand your horizons, it also limits them and limit human interaction. ben, you have three kids educated partially in the united kingdom and the u.s.. you have witnessed some differences. ben: they have been to some good schools but also some really bad ones. why can't they learn from the best teacher in the world? it does not matter if you are living in delhi, or somewhere else. your teacher is no good or does not turn up you can learn from , the best people. the role of the teacher needs to be much more around helping kids reflect on what they have learned rather than teaching them stuff. the content out there is amazing. i am absolutely on board. they should be totally transformed. emily: jay, what are one of the most innovative things you are seeing? schools trying to reinvent school from the very beginning. what do you think about some of the ideas how they come up with? what does it look like? jay: there are a lot of really cool things happening. i think ben is 100% right. the

. ♪ emily: i am emily chang welcome to a special edition of "bloomberg west." am coming to you live from las vegas. hewlett-packard is hosting its annual discover conference. later in the program, all the -- i will be joined by hp ceco meg whitman. you can catch that interview tomorrow. also, coming up it outlining its ipo plans. and, why aren't there more tech unicorns? all that ahead on "bloomberg west." first, to the lead -- pinterest moves towards e-commerce. later this month, pinners will be able to purchase "viable pins" directly through the website. shopify, nordstrom and macy's are among the retailers making among 2 million products immediately available through pinterest. you will be able to pay with apple pay for your credit card. pinterest is working with stripe and braintree as payment partners. sarah covers pinterest and was at their headquarters today. pinterest users like myself have wanted to see the company get into this. investors have wanted to see this. is this going to make me happy? will i need to leave pinterest to find an item if i want

thank you, emily chang.head on the bloomberg market day, machinery monolith caterpillar holding a meeting today, some investors sending a message about the poor or miss of management. a reversal for the company? ♪ alix: caterpillar held their annual meeting in kansas today, and 56% of stockholders approved an advisory on compensation, and others were signaling the satisfaction in management permit. well, joining me now is karen, who follows industrial companies for bloomberg intelligence. karen, thank you for being here. when of all, is that a lot it comes to caterpillar? karen: if you look at the last few years, it has been 5% or less that have disapproved, so it is a surprising jump. alix: what happened? they went down. karen: with stock performance and earnings growth, they have dealt with a terrible market, but there are some execution issues. also, they have done some big m&a that were probably pay off long-term, but it is hurting them right now, though -- let's go through some of the last m&a's. what w

i am emily chang, and this is "bloomberg west.” big shareholder meetings happening in san francisco. sergey brin tells his investors the company needs to continue taking big risks. we are counting down to the twitter shareholder meeting. will the company be able to improve the weight is perceived on wall street? tim cook calls out silicon valley for monetizing user data. the change he wants to see on facebook and google. welcome to the dot-porn era. to our lead -- a "tectonic shift," that is what meg whitman calls the growing m&a trend in the tech sector. i spoke with her about the record-setting deals we are seeing from broadcom and a votto, to intel buying all tara. you mentioned tectonic shifts. do you think we are going to see more consolidation? meg: that is typically what happens when industries get disrupted. i can't tell you how that will play out, but i'm not entirely surprised at some of the m&a that you've seen in recent weeks. emily: any sectors you would point out where you think it might happen? meg: i think there are