gurley: appropriately. emily: when it comes to amazon, do you worry about the threats when it comes to governor-elect stitch fix? mr. gurley: everyone should be paying attention to amazon and treat them with the utmost respect. i think mr. buffett may have just said that. that said, in this case, i think stitch fix is competing a lot more with the nordstrom's of the world, the macy's of the world's, the h&m's of the world that are the leaders in providing fashion apparel to the consumer basis. right now, we take a very different approach. amazon is known for having the largest selection. uou can search through sk after sku. we try to learn as much as we can about the individual, and then we use machine learning and collaborative filtering and algorithms and the help of our stylists. we deliver some de gea you haven't even seen yet. the head of all rhythms and says is the ultimate recommendation engine, because we don't delay you look at the choices. that level of duration is highly unique, both against the

more of my conversation with bill gurley. the biggest and most vocal investors in uber. he stepped off the board this year. summer'sbout this unexpected turn of events and new leadership under the new ceo. thisleft of the board summer and was replaced by my partner. i am not present at the board meetings. that board andon works with travis and through my own conversations with the ceo that he is getting good advice and help from travis. when i look at the current situation, i feel extremely happy relative to where we were in may or june. i think the entire board including travis is excited about the ceo. i think he is doing an incredible job. good job interfacing with regulatory bodies in london, brazil. tony west,t added who eric holder helped us higher, so i feel really good. a neweve we have reached level of stability and look for to where we are going forward. emily: benchmark push for travis's resignation and sued him. that stunned a lot of people. why did it come to that and why could you not result that in private? >>

emily: that was built -- bill gurley.e will bring you more of that conversation later in the show. talk to us about how they raised less than i hoped or sold fewer shares than they had hoped for. >> they ended up selling 8 million shares at $15 a piece. they had planned to sell 10 million at a range of $18 to $20 a share. i spoke to the ceo earlier today, and she said they had a little bit of difficulty explaining the story. she says it is not obvious and not easy to tell. she said it seemed like an investors could not quite place them because they are not an e-commerce company and are not a traditional retailer. she did seem optimistic and said they are looking forward to continuing to prove that they have consistent growth and prudent growth. she says they are not about growth at all cost. the stock closed at a market value of about $1.5 billion, giving it a price to sales value right in line with your typical retailer at 1.5 times 12-month trailing sales. when i look at e-commerce, it is closer to 4.4 times. it seems t

hot off the heels of the stitch fix ipo, bill gurley joins us to talk about the ipo and a lot more down 81 points, close to the lows of the session. we're back in a minute at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence. >>> a big night for elon musk and tesla. we're getting word walmart

coming up, a conversation with bill gurley. his take on his firm's blessed uber ceo.e former this is bloomberg. ♪ scarlet: 2017 has been a bumpy ride for uber. of course, cofounder travis kalanick stepped down as ceo. one firm keeping a close eye is benchmark capital. .t was an early investor emily chang spoke to bill gurley s seatlked about kalanick' on the board. >> i was replaced by my partner, t, and i know he is on the board and works with travis, and through my own conversations, he is getting good advice and help from travis. when i look at the current situation, i feel extremely happy relative to where we were in may or june. the entire board, including travis, is excited about the ceo. he is doing an incredible job. he did a great job interfacing with the regulatory bodies in london. you did it in brazil. -- tony west,st, who eric holder helped us fire. we have reached a new level of stability and i look forward to where we are going forward. emily: benchmark which for travis -- pushed for travis' resignation and went

. >> reporter: lou gurley was flown in from id hoe, one among hundreds clearing toxic wastes from a turned out building in sonoma county. >> we're going to dispose of it in an efficient manner with all of the other like waste. >> reporter: as proof, the epa showed reporters this collection facility, toppling over with toxic products pulled from homes. >> batteries, cans of paint. >> solvents, decreasers, bleaches, ammunition. >> reporter: so an army of firefighters toiled, now contractors have filled that gap. state and county emergency declarations allow them entry to every private pot. >> i like for what i need to grab out of there. >> reporter: they are looking long hours. >> some of us start at 4:00 in the morning. we're lucky enough that we don't have to start until 6:00 and go to 6:00. >> it's a long way. and you do it again and again. >> reporter: now multiply that by 6,000 burned out structures in sonoma county alone. by the time they finish this task, fema will have paid tens of millions of dollars for the work. >> we're shooting nor the end of november. >> reporter: if you're a b

bill gurley from benchmark capital will join us live, and why he's betting on the online personal styleu.s. stocks or agent lower after rally of two months, after treasuries advance. the world's largest wealth manager is not buying into one grade. why bitcoins should not be seen as currency. in abigail doolittle is with us halfway into the trading day. we are seeing a little bit of a pullback. abigail: very small declines in the u.s. the dow was the most by about .4%. all of this follows

bill gurley from benchmark, one of the vc's behind the deal, also going to tell us. about in stitch fix, retail, personalization, big data involved in this. such an important space as amazon is trying to dominate that and so much else. and there's a lot of innovation pouring into it. right now, really any moment now, we expect this stock to open i'm standing here, and with betaed breath. i see katrina standing back there where it's about to open pretty exciting because there's so many trends that can converge right here at stitch fix and on this company going public right now, carl. >> yeah, john, i was sort of wondering if it's painting itself as a retailer or a tech company. and how combinations of those two ipos and companies have done it's been a mixed bag, and you always run into the amazon factor >> yeah, sara, definitely a tech company. i think if anything, stitch fix has perhaps suffered by association with snap and with blue apron companies that received a lot of hype on the front end, trying to connect. if you want to draw a line, trying to connect technolo

bill gurley of benchmark, which was a major backer of stitch six will be speaking with our own emilyond james has been on an expansion push getting involved in investment banking expanding into europe. that push seems to be paying off with shares gaining this year. raymond james chairman and ceo paul reilly spoke with us about the growth. >> a lot of the growth has been around the m&a business. downsize business that did not keep up an m&a area. aggressive with hiring m&a bankers to help extent of european business, which paid off in the first year. we have also recruited a lot of bankers in london where we had a private client group and a trading operations. we have made big investments on and we are very, very happy with the results. even in this tough research market, we have continued to hire people in research and expand that capability. sure what thee outcome is going to be, but we are still bullish on the business. it is hard competitive. the secular trends are very tough. we are hanging in there. >> speaking of investing in the business, the most notable thing that happened t

felix frankfurter and elizabeth gurley flynn. that was the origin of the aclu. the first major case that goss gnat agency attention was when -- that god national attention was when aclu recruited clarence scopesto represent john in the famous scopes monkey trial in tennessee which you can , all see in the play and movie "inherit the wind." that's the origin of the aclu. >> can i add something? >> let's wait until joanne -- >> hi, everybody. i am joanne sheehan, the staff person in new england. i have also been involved with wrl since i became a member in 1970 when i moved to new york to do anti-vietnam war work and have been on -- i think played many roles within wrl over the years. i have also nationally am the point person for our non-violence training and resources work. so war resistors league is 94 years and two days old. so just celebrated. any of you on the war re-listers league list will know that as an e-mail blast went out two days ago to remind you. a quick capsule of who the war resister league is, our mission, which is shared with war resisters inte

that's reportedly 20% of the company's latest valuation benchmark capital's bill gurley weighed in on startups and unicorns earlier today on "squawk alley. here's what he had to say. >> i do think we're also watching, however, as many of the unicorns mature in age that many of them are having to come to the recognition that they either need to grow up, get profitable, go public, or do something along those lines. and this silly notion of we're going to stay private forever is not playing out in a very positive way >> so to me, the interesting development this week is not so much what he was saying sort of the unicorns and so forth, it's just digital media is facing a reckoning. and in a weird way for anyone who came from the "wall street journal," you know, paid subscription world, it's somewhat satisfying, i'll be honest a lot of these platforms have tried to pivot to video and are not having a lot of success because it takes huge investment there. is there a broader inference to draw about there was an era when these digital media platforms were the whole internet, basically, and no

and there's fascinating people in the audience including barry diller will be here, i just saw bill gurleymber of uber will be in the audience, there will be a lot of questions being shot at these many guests. >> i think there should be alcohol there, andrew, just for the heck of it, for the afternoon or something you know what i mean >> so people really open up? >> we can hope, we can hope. there's a cocktail reception afterwards. >> okay, maybe interesting stuff comes out of that. >> thank you, andrew, see you throughout the day and see you tomorrow morning. >>> in the meantime, saudi arabia's foreign minister is calling for sanctions on iran for its support of terrorism we're joined with highlights from that exclusive interview, hadley >> well, saudi arabia's foreign minister ratcheting up the rhetoric on iran, he says it requires an international response and refused to rule out the possibility of working with israel to do that. i also asked him about this massive corruption crackdown we've been seeing playing out against the backdrop of the foreign policy elements of this story. one o