it is just a spectacular way to foster innovation. >> i want to talk about innovation in the bay area for a moment. this is for all of you, but i will start with you, mayor lee. how would you describe the state of innovation in the bay area right now? are you concerned -- instagram comes to mind -- about a bubble? >> we have been trying to analyze that question with financial people and people in the industry. i do think there is more maturity with the companies. i get a chance to go out and talk to one new company week, when i get out of my city hall prison to meet the innovators. they introduced me to their employees. i get to have a direct dialogue with the employees and ask them what they need to stay. they say they really like being in our city because of the night life, the culture. they want education, they want a better transit system. they always have ideas to improve the municipal transit system. but when the talk about the bay area, including silicon valley, it is the same thing. transportation symptom -- systems, central subway, high- speed rail. clearly, bart to san jose

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innovation is important. i have to also, every time we heard the word innovation, i have to put a plug in for tradition. i have a very traditional education. i spent a lot of years in silence speaking latin up in the hills, living within the medieval framework. i do respect the past. we study it. if you are grounded in tradition, you feel quite confident in change and innovation. if you are insecure, you are very reluctant to embrace the unknown. i do think we need to in our education and politics, we have to have a new appreciation for our traditions and the patterns that describe our culture and our being as americans. having said all that, we have saved in california tens of billions in energy efficiency. when i first adopted those, people reacted negatively. we pushed ahead. and now in california we have ab 32. signed by a republican actor turned governor. promoting something i pick up on and promote further. the number of people in silicon valley defended ab23 against -- ab32 against an onslaught of texa

and innovation." it goes a little bit beyond the correction to antitrust laws. >> we have been having this debate that net neutrality for close to 15 years. the innovation seems pretty healthy. i think the kitchenette neutrality impaired -- the case for net neutrality improve the seams better now than before. >> we are just about to impose net neutrality realistic, but we never did. because of that, people are afraid to exercise it. >> university of michigan. i would like to view the rest of the panel's opinion on this. given that both lawyers and judges don't have technical background, can they make good technological regulation that if not, should we encourage technological pioneers to enter politics? >> right now, you have steven chu. [applause] you need people who understand the sound principles. if you get a guy who is a technology which iwiz. peter is qualified to serving congress because he has also been in business. >> so you want more lawyers in congress. >> no, i want people to understand th

all of these types of innovations, these share rubble innovations -- shareable innovations are on the rise. they are not centrally- controlled, one-size-fits-all solutions. instead, the increase access to resources locally and globally through market driven and volunteer-based platforms that unleashed the creativity of citizens to create an exchange value directly with each other. it is very adaptable to local conditions. with this economic shift, there is also a cultural shift. we are rediscovering that the good life is about the basic things like health and family, community, purposeful work, friendship, spiritual expression. we are discovering access better supports the pursuit of happiness than ownership. let me talk about -- let me give you a couple of examples and the potential impact to give a feel of how this could be a fix. cars sharing is a really good thing to look at. it is the archetype of the sharing economy. it has been around for a while. the research has come out recently. a uc-berkeley study showed once shared car replaces nine to 13 owned cars. 50% of households who

program or innovative services, whatever it is called. and they are going to find that with millions of dollars. the way i read the process, it says that somebody has to apply for a grant in order to get the money. to have that come up with some kind of innovative program and apply for grants. but there are no goals and the innovative program that i can see currently that makes mental health any kind of goal, objective, or priority. >> we did not get to the goals or objectives, but is in the amended development agreement that you have had it specifically calls about the behavior health service that does, as i described earlier. the innovation fund will be a partnership between the department of public health, the city, and the san francisco foundation. the three of us together on grant making will develop of the goals and objectives that will be used in the distribution of the innovation fund in line with the general overview included in the development agreement. commissioner sugaya: you say that the service is one of the -- is not a goa

precollege innovation or something as innovative and gets thrown around a lot. without making a value judgment as if it is a bad thing, it is certainly a bad thing for a writer because it is trying hard to understand what is innovation when it is all mucked up. but you can never go to a store and buy a bell labs project or innovation really. it was the stuff inside of it. it was classroom innovation on which the phone system was built in other industries were built, too. so platform innovations were different and these consumer innovations we might think of now. it is not necessarily one is better than the other. they are both necessary, but they are different kinds of innovation at least as i see it. >> i don't think you answered my question. >> i gave a good answer i hope anyway. >> the question is, what would these guys being? >> what they think of facebook? i imagine they would see it as an amazing communication platform. i swept the world in the proof of success is in its huge market and leadership or membership. i want to stay away from subscriber was the

it is one of innovation. one that invites people and their views enmeshes it up with old tradition to see if we can make an even better san francisco. my fellow collaborator, president david chiu, is here tonight. scott wiener. we have two other supervisors who may be coming later. supervisor jane kim and supervisor mar farrell, who might join us later. we're all part of the initial group of policy makers at city hall who want to hear ideas and views of this new economy, this collaborative consumption economy, a shared economy, one that we are very interested in because it has assets that have already peaked our interest. about our -- piqued our interest. about our environment, about how to do less with more, how to make an expensive city more affordable to more people. how to utilize the strength of the city as a great tourist city that maybe not that affordable to too many people and how we can get more folks to come and experience the wonder of the city. and then hopefully they make their stake here. these

they have an incredible spirit of innovation in those laboratories. and they are inviting other companies, not just from the bay area air even our country, they're inviting international. we had our first canadian incubator that was established just a couple months ago. they are excited to be kind of cross-referencing their research and ideas. >> why are they coming here? >> they are coming here because there is really ongoing levels of conversation and sharing of experiences that are part of, kind of, thinking outside of the box and thinking in different ways, turning things upside down, hacking your way through some of these ideas and not being afraid. and trying to find applicability for them. that is the spirit of the valley, the spirit of san francisco. we have always been edgy when it comes to openness. we're taking advantage of that. we want to embrace different cultures to impact that as well. what people see here might be different from how they see it in india and some of the other countries that are emerging here, trying to apply it in ways

let randomly wait for innovation. you're expected to come up with a killer innovation. >> as chief technology officer at the company's personal systems group, mckinney survived an be absurd number of ceos reshuffling and layoffs as he quietly tried to pull hp along into the future. phil mckinney just retired as vice president of hewlett-packard. he's written a book, beyond the obvious. he was also an eagle scout which i think is an important thing to bring up if might be actually accomplishes that. joined by fritz nelson and joe mann. so much to talk about. and you brought a lot of innovation to a rather fusty company, but i want to talk with this tablet. you can walk me through the days of introducing the hp tablet? we were there, i think all lee of us, at the big announcement. you'll take on apple. and then it was gone. it was gone. >> a little of the history.tablet work inside of hp began long before the palm acquisition. so it was actually a five year effort. >> you knew tablets were going to be big. >> we knew th

all of these types of innovations, these share rubble innovations -- shareable innovations are on the rise. they are

that is the secret to innovation, i think. that is why i pay attention every tuesday with a new company. that has also gotten the invitations to visit this company in new york, this other one in chicago, and other places, because they are proud of the fact that there is a mayor paying attention to what they are doing. there are a number of other things we are doing to make the city more investment-friendly. we are going to revitalize the payroll tax. that is on the way. we have the controller coming out with ideas. they have interviewed major industries to find out what we can replace it with. there will be some kind of version of a gross receipts tax that i think will end up being some sort of hybrid of that that comes out to as much agreement as we can. i think the biggest lesson there is we're keeping everyone in the room, from the established chamber of commerce members, technology companies, people who have been here for a long time, to small businesses who want to make sure we are streamlining things as we go and discove

please visit the innovation valley on the exhibit hall to the conference. we also have a startup spotlight. we chose 16 different companies that will present. our sections in the conference are mobile and video today. a special thank you to our advisory board and judges to the conversation that will be happening over the next couple of days. by the way, we do this all over the world. i was very pleased to see a delegation of our friends from tokyo this morning. they are right up in front. could you guys stand up and wait? they made the longest plane flight to get here. [applause] all right. this afternoon at 1:15, we are really lucky to have our keynote presenter. you have all seen the slide, right? we call it the slide. it is the prodigious mapping of exactly how complicated things can be in this industry. he is doing more than anyone else to render order from the chaos. right after that this afternoon, we have a fireside chats about social media and advertising -- fireside chat about social media and advertising. later today, the author of "and outsmartin

we will protect that innovation, and we will do it in the spirit that all of our and the raiders areay, that our spirit is rich enough to help everybody to make sure that we reflect everybody's lives. this trends assistant touches all of people's lives, whether you are a struggling immigrant, a small business, or the largest business in san francisco. it touches everybody's lives, and she knew it when she was supervisor when she declared transit first. she continues to help us in so many ways. she has been my mentor, and she has been a continuing to be a great representative of our city. if i may welcome to the podium, our senator, senator feinstein. [applause] >> thank you. thank you. thank you very much. thank you very much. thank you. thank you. thank you. well, it is always nice to come home and get one good round of applause. kind of my morale boost for the week. this is a trip down memory lane for me. as a 6-year-old, i used to ride the f3 car from where we lived around beach st.. i could not read, so i would have to ask the operator to tell me when this streak came up, and, of

. >> then awe-inspiring and educating new innovators. the "wall street journal" report begins right now. >> heefrdz what's making news. an important measure of size and strength in america's economy is out released on friday. the first read of the gross domestic product is a disappointing one, though. it showed an annualized growth rate from the first quarter. it was slightly below economists' expectations. this is down from the fourth quarter at 3% growth. business inventories were down, but consumer spending was up. america's most valuable company blew past earnings extendingses on tuesday, meanwhile. apple posted a profit of $11.6 billion in the first quarter. it sold 35 million iphones and nearly 12 million ipads. that sent the stock soaring once again back about $600 a share on wednesday. adding some $40 billion in market value in one day. pretty sweet. the nasdaq as a result climbed on the news having the bers day of the year, and its biggest gain in four months. with more than 2% increase in in a case. the dow spiked during the we

we think a statute can provide clarity and provide the basis for continued innovation. on the european front, you know, it's -- it's a complicated question. i think it's very clear that if the united states enacted a privacy protection statute of the sort that we described here, that that would go a long way, that would probably provide the basis for what you refer to, tim, as an adequacy finding. let me just say what that means. european privacy law provides that personal information about europeans cannot be transferred outside of europe to any third country, unless that country is found to have, "adequate privacy laws." now, because we don't have any single, comprehensive privacy protection statute in the u.s., europe has never found us adequate. we actually think we're quite adequate. we think we have, as i've said an extraordinary privacy protection enforcement authority in the federal trade commission, anyone thinks that that they don't adequately enforce consumer expectations of privacy should talk to facebook, google, twitter, or any of the other companies inves

innovation. and we've got a pretty interesting business model ourselves these days as an independent subsidiary where we're in the business of innovation. so we have a chance to participate in that model in a very different way. and that's really what we're celebrating with with our tenth anniversary. >> but are you still doing the kind of pure research that people think about, you know, guys in white lab coats thinking big stuff, kind of creating new stuff? i think -- i mean, parc is really still doing a little more applied research that works for some of the other businesses that are owned by sxexerox, rig? it's a little different model. >> it's a different model in a couple of ways. let me try to address a couple of things you raised there, eric. one is today our business model is we're in the business of breakthroughs. so we do innovation for a variety of companies. we still do -- we are a subsidiary wholly owned by xerox. we still do a lot of innovation work for xerox, but it's less than hal

congress should be vigilant that the rules of the game favor entry, innovation and competition. in the end there's no stopping technical innovation but i would hope that a wise and engaged congress will make certain that we have the levelest playing field, most encouraging environment for new media over the next usual years of its development. thank you for listening and i'll be happy to answer questions i can. >> thank you, mr. diller. our next witness is miss susan whiting, vice chairman of the nielsen company. and i think you're going to talk about how american viewing patterns are changing, which is for sure. and that more households are watching on line video than ever before. you've been at this, your company has been at this for decades and you produced data about american television which is very helpful. and particularly helpful as we go into this disruptive period where nobody is quite sure where it's all going to end up so we welcome you. >> thank you. thank you, chairman rockefeller and other members of the committee, i'm vice chair of the nielsen company. you are i

this is all -- the technology is remarkable, the innovation is amazing. we here in congress are just trying to keep up with what's going on out there, as you can tell from listening to us this morning. but i'm curious to know, and this is for anybody on the panel, because there are some studies out there that suggest streaming accounts for about 54% of internet traffic in north america during peak times, netflix and youtube account for 37.6 of north america's daily internet consumption. which leads to a question. that is, do me we as a nation have sufficient infrastructure and bandwidth to support the increased demand for high-quality online streaming services and what are the foreseeable issues that arise in our internet infrastructure in terms of this exploding demand and availability of online video, and what should congress be watching for in this area, if anybody would like to take a stab at that? >> well, senator thune, thank you very much. i think the core characteristic of the internet is that consumers are allowed to pull to them the information

and one of the things he has done is embrace innovation. he has in dpw staff that he is a monitoring that looks at the performance measures to make sure to look to the performance of these projects, and he meets weekly with his staff to make sure that, again, there on time and under budget. in addition to the discipline to these public works projects, we referred to him as mr. clean. you can probably twitter that and find mohammed nuru there. the mere mention, he is out at every neighborhood, looking to make sure garbage is picked up, griffey is removed, making sure that our neighborhood in san francisco, every single member it is beautiful. because of his enthusiasm and his work ethic, he has increased the number of volunteers of volunteering along with the dpw crews in san francisco over the weekend to make sure our neighborhoods are beautiful. you have to appreciate his enthusiasm that so many of us are working alongside with them to make sure that this city stays beautiful. because of this, these are all the reasons and the reasons the