. >> i talked to michael heyward about the deal next. ♪ >> this is "bloomberg west."ow chairman and ceo of the dc-based investment firm, revolution, and i started by asking him about valuations, gettings like what's at bob by facebook for $19 billion. no significant revenue. twitter with a $30 billion market cap, having never turned a profit. take a listen. >> the valuations are healthy. there is no question about it. andanies drawn like crazy people are trying to figure out what they will look like five years down the road. andtimes they guess right sometimes they guess wrong. you cannot argue the valuations are not pretty rich and pretty. you a is. i know there is concern about a bubble, i do not think it is broad-based. there are a number of companies that are healthily valued and some may be overvalued. a lot of companies are fairly valued and many are undervalued. you cannot take it with a broad brush. you have to look at the specific situation. tell mehad an analyst he does not know what he will use on his phone in five years. if that is the case, why is whatsap

michael heyward told me his company has a strict policy on what can be posted and he feels he is giving voice would maybe they felt like they didn't have one. apple tv is given to the march madness mix. home to the duke blue devils. the apple tv streaming device. jon erlichman is in late with more detail -- l.a. with more details. they are not offering full games budget highlights? exactly. the broadcasting rights have been locked up for a long time for cbs. if you are apple and you want to grow apple tv, what are your options? to go and cut deals with conferences that have big fan fans like the druk -- duke base. , he company built to this is the ceo and he joins us. us talk more about to be tricky rules of a rights. why can't these apps be created when you have these monster deals that the broadcasters sign for the live streaming rights? >> hey, jon. as you pointed out, a lot of the rights are locked up and it takes a long time to get the agreement. it is not always easy to do something a be able to do it, it takes time and we are seeing that first wave of what is possible on a digita

. >> was per ceo michael heyward at sxsw. ben horowitz on his hip-hop lessons.es, he even wraps for us. raps for us. ♪ to the best of bloomberg west. i am emily chang. ben horowitz is one of the biggest names in tech investing. in his teenage years he was an aspiring rapper. he quotes hip-hop lyrics to help drive home business advice for entrepreneurs. here's what he had to say, or rap, about the business wisdom of jay-z or kanye west. >> you can't tell me nothing. nothing.'t tell me hip-hop is the music of entrepreneurship. pro-becoming a man as opposed to railing against the man. they think about themselves and talk about themselves as an entrepreneur. when i write a blog post, it is generally to try to teach an entrepreneur how to do something. the post can take you through how to do it, it can't teach you how to internalize it. ♪ i wrote a post called cash flow and destiny, which is about white billing cash flow positive this important because then you can control your destiny. it is great for me to explain that, but until i put in kanye saying wait till i g