if we look at the ways they can still monetize the audience, branded content, merchandise off of newntent they own, there is more diversification and opportunity to monetize audience for netflix other than whether they get 5 million or 4.5 million subscribers. is interesting. should we be shifting our attention away from subscriber growth and looking at other numbers? should we be looking at areas of opportunity to grow? i expect toe thing hear more of going forward, what their innovation platform is good the concept of taking a couple of tv shows and selling to subscribers is getting more competitive and well-worn. they need and innovation platform to bring the competitive edge up in the second quarter quarter, so i would expect to see something there. caroline: dig into these innovation platforms. who would you see them selling the homegrown content onto? they are still saying no to sport. sports is out of their specialty and a very expensive arena for them to challenge other people in. across the over the top ecosystem come up most of the growth has been in ad-supported content, a

if we look at the ways they can still monetize the audience, regardless of if they get new subscribersgs like branded content, merchandise off of new original content they own, there is more diversification and opportunity to monetize audience for netflix other than whether they get 5 million or 4.5 million subscribers. caroline: that is interesting. greg, should we be shifting our attention away from subscriber growth and looking at other numbers? before i ask you to dig into expenses, should we be looking at areas of opportunity to grow? >> that's one thing i expect to hear more of going forward, what their innovation platform is. the concept of taking a couple of tv shows and selling to subscribers is getting more competitive and well-worn. they need some sort of innovation platform to bring the competitive edge up in the second quarter quarter, so i would expect to see something there. caroline: andre, did into these innovation platforms. who would you see them selling the homegrown content onto? what sort of areas of there?nity other -- are >> live sports is out of their specialty

monetize that cleaned up, more it's not going to be about autoplay video.t's a nice move to see, but i don't think that is the end game for twitter, if they are really trying to be profitable in the long term. i think it's something we haven't seen yet. i wish i had a good idea. i would happily share it. i think it's going to be some -- it will need to be some new products that we just haven't seen yet, or else they are just going to continue to lumber along the way they have. caroline: melissa parrish, great to have you on. bloomberg editor at large and the birthday boy in the house, cory johnson. give him some twitter love. he may be casting aspersions on the company, but you are great on twitter. cory: much love for twitter. caroline: paypal shares popping in after-hours trading. investors are starting to embrace the company's strategy of converting the online payment platform into a digital wallet. the ceo's strategy is working as the company raised its annual forecast. joining us tomorrow is paypal's cfo. coming up, google's parent company is set to re

apple and google had a monetization approach, hardware and search.e never had a monetization approach which means we did not invest in the right way. we cannot get our product bootstrapped at high volume. i would approach it differently if i could again. but i can't. charlie: yahoo! you are prepared to pay big dollars. steve: i would look like a genius if we had actually bought it. if you look at what i was willing to papers is the value, touchdown. charlie: mainly because of the investment of alibaba. steve: absolutely. that would look like a perfect investment. charlie: somewhere around $40 billion? steve: around there. $33 a share, whatever that meant back then. you put the two things together and there would have been a lot of synergy and speed to market that took a lot more time. the cost benefits did not accrue as much for microsoft. with 10 years of hindsight, when we first proposed acquisition, it wouldn't have looked good five years ago, but with 10 years having passed, i think that would have looked like a great acquisition. charlie: when y

by arizona's capital is ground zero for monetizing after that -- alphabet.ndy nfl teams up with wearable tech. how players can cash in using their own health data. first, the rally in stocks continue. let's go to abigail doolittle for more. up 7/10 of a percent, above the important figure. reporter: we are. another risk on day for major averages, especially the tech heavy nasdaq closing above success and. above 6000. alas tend a closed above a big round number for the first time, 5000, in march of 2000. it has taken 17 years for nasdaq to close above another big round number. down, this might be a more psychological level as opposed to an indication more gains are ahead. driving the nasdaq about 6000 today, we are looking at netflix, baidu, and biogen above. netflix is one of the top performers having its best days since october next year -- last year. that has to do with the companies deal with baidu, helping baidu trade higher. it will help netflix enter china, the only major market netflix has not been as of yet. and biogen, a big day. like the there real

vonnie: and people tip, that is how they monetize, right?take a portion of the tips for themselves. glen: right. vonnie: and you are the number four shareholder? glen: yeah. we continue to buy and alibaba keeps selling. vonnie: there's another one in the united states you are very high but the shareholder list of. have anduation does it will you see an exit for yourself. ? i -- shopify is creating online stores as well as entrepreneurs that have an online only operation. average store only does about 50 to $60,000 in sales. the most fascinating thing is that the product scales up to millions of's -- millions of scales per store. they have retailers that are selling over $100 million of goods. vonnie: i have to ask you since we are on the topic, i know you were a shareholder of evelyn. how do you react to this bonobos news? mortar think bricks and retailers are in a tough spot. they need to increase the amount of sales that they have going e-commerceir division. they also need private label product. has built a good brand ne has as well. are

if we look at all the ways they can still monetize, things like branded content, merchandising off theriginal content they own, i think there is a lot more diversification and opportunity to monetize audience for netflix other than whether they get 5 million subscribers. caroline: is interesting -- that is interesting. should we be shifting our attention away from subscriber growth, looking at other numbers? should we be looking at areas of opportunity to grow? >> that is one thing i would expect to hear more of going forward in the next couple of weeks, what their innovation platform is. the concept of let's make a couple of tv shows and sell subscribers is getting more competitive. they need some sort of innovation platform in order to bring the competitive edge up in the second quarter. i would expect to see something there. caroline: dig into the innovation platforms we might see. who would you see them selling homegrown content to? what are other areas of opportunity? >> i agree. sports is out of their specialty and a very expensive arena for them to go challenge others in. when w

give us the monetization strategy of messenger. are we going to see advertisements?usiness is going to be using this and paying you? >> the way we are thinking about monetization for messenger is that if we create more value inside of conversations for businesses, then they more -- create more of these.the way they do this right now is to buy ads in the newsfeed that opens conversations in messenger. that is the first step. it is creating a new demand for the new ad. gradually we will test ways for companies to advertise and messenger in a taste away that doesn't get in the way of messaging. caroline: how big a part of facebook's overall revenue do you see messenger being? do you have a target? >> we don't break that out. it is very early, because buying ads in newsfeeds that point to something thatly any of the companies that have built the platform could start doing. it is very early still, so it is very small, but we think that with the user base and the that overcosystem, the long run we will be able to build a solid system. hasline: many feel that f8 been facebo

there's no way to monetize that. how is this going to make money? numbers come out in 35 minutes. 7:00 a.m. maria: i want to point something out roughly speaking. technology stocks were up 14% this year. that is even better than the full year performance last year. tech was up 12% last year. so far 201714% gain. that's incredible optimism with facebook and netflix are you all-time highs yesterday. true to apple, google. you're right. the nasdaq above 6000 was pretty incredible yesterday. you wonder if we are getting a little ahead of ourselves in terms of valuation. given what we look at an policy in terms of the corporate tax rate, this is a huge boon for small companies. in small caps, this is the story. >> silicon valley went into the trump administration think it'd be horrible. the hiv visa restrictions help silicon valley prioritized them over india as well as if you cut taxes getting big for that. >> the rest of the world doesn't look bad for technology companies as well. a great growth story overseas. trade to 10% earnings growth of the s&p 5

why arizona's capital city is ground zero for monetizing. and the nfl teams up with wearable tech.ow players can cash in using their own health data. first, to our lead the rally in , stocks continue. the tech heavy nasdaq crossing a big milestone in the session. we are up 7/10 of 1% of an important figure. >> we are. especially for the tech heavy nasdaq closing above 6000. the last time the nasdaq closed above a big round number for the first time, 5000, it was back in march of 2000. it has taken more than 17 years for nasdaq to close above another big round number. thisologically though, might be more of a psychological level as opposed to an indication more gains are ahead. driving the nasdaq about 6000 today we are looking at netflix, , baidu, and biogen above. -- among other winners. netflix is one of the top percentage performers, having its best day since last year. octoberwe were told this has to do with the company cost deal with baidu, helping netflix enter china the only major , market netflix has not been as of yet. and biogen, a big day. investors there really like the

. >> how do you monetize it? >> twitter monetizes it. >> social media outraged over a new pepsi commercial featuring kendall jenner handing a pepsi to a police officer. take a look. twitter users quick to call out the company for an apparent lack of sensitivity they said. pepsi issued a statement saying, this is a global ad that reflects people were different walks of life coming together in a spirit of harmony. we think it is an important message to convey. i heard this is much-ado about nothing. i have also heard the argument that how could a company this sophisticated in marketing do something like this? >> my perspective on it, it is really kind of sad. it shows how far pepsi has fallen as it relates to its relevance in pop culture. if apple or nike, back to black history month that nike did around equality, if they had executed a similar ad, i think they would have taken into consideration that probably wouldn't want to cast a white supermodel in an iconic black lives matter scene. i think it is a matter of

apple and google both had a monetization approach. we never had a monetization approach which means we did not invest in the right way. we cannot get our product volume.pped at high i would approach it differently if i could again. charlie: yahoo! dateere prepared to pay dollars. -- big dollars. >> i would have looked like a genius if we bought it. charlie: mainly because of the investment into alibaba. >> absolutely. that would look like a perfectly good investment. .hirtysomething $33 a share, whatever that meant back then. you put the two things together and there would have been a lot of synergy and speed to market that took a lot more time. the cost benefits did not accrue as much for microsoft. the final partnership we would have acquired. with 10 years of hindsight, when we first proposed acquisition, it would not have looked good five years ago, with 10 years having passed, i think that would have looked like a great acquisition. charlie: when you look at the future, cloud has been a huge part of microsoft's success today. whe

if they can't monetize that, then something is going seriously wrong. isn't it? is the thing with twitter. they had a lot of organic eyeballs increasing in the second half of last year. you know, with all of the news going around, i think at the back of that, you see 17% dropped in the u.s. ad revenues. obviously it is clear that they are not able to monetize this organic eyeball in terms of product. but again, you have to really understand what is the strategy to retain those appetites? so far that is not really clear. alix: we appreciate the conversation. good to see you. thank you much. we continue at 9:30 a.m. ratingeenfield, with a on twitter, will be joining us. if you have a bloomberg account checkout tv . like on our charts and graphics and interact with us directly. questionlick on the and we will do so in the interviews. this is bloomberg. ♪ jon: from new york city to our viewers worldwide this is bloomberg daybreak. let's the market action. futures with a market move to the downside. software by 10 points on the dow. 1/10 of 1%, on the s&p 500. thr

they can't monetize it.he one thing they did i thought was interesting, now they have a new api, where developers can come in and start using the twitter platform to build something on it. >> that might work. >> that will take six months to a year before anybody picks up on it. there is not much here. >> talk about a beer run. they make an epic comeback since the election stock is pouring. we'll hear what the ceo told jeff later this hour. in the meantime, here's what else is coming up on "fast." >> earnings have come back to light, they're growing at their fastest pace in years, before you jump into the market, there is something about that growth you need to know. we'll explain. what happens when professional triggers bet against the mark, while retail traders rush into it. maybe not. something has changed with the retail investor. he will tell us when that is when "fast money" returns. the . the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, co

with disabilities like autism has major star power tonight. [ singing ] >> singer and actress janelle monet performed at easter seals bay area. the organization provided services for kids with physical and developmental disabilities for 90 years. >>> still to come, a 911 call leads to the body of a former child star. >> hey you do that to me and i'll knock you flat. >>> a flight attendant grounded at a skirmish at sfo. >>> and he took a terrifying tumble into a ravine. tonight the emotional reunion between a giant horse and the bay area firefighters that saved his life. >>> and we have rain coming into the bay area, well maybe not much, and not tomorrow, but soon. we'll tell you when and how much after the break. ,,,,,,,,,,,, sudden loss of "happy days" actress erin moran. unresponsive this >>> tonight hollywood is mourning the sudden loss of happy days actress erin moran. she was found dead after a 911 call. it's unclear how she died. she shot to fame in happy days. she began acting in tv and movies before she was 10 years old. an autopsy is pending. she was just 56 years old. >>> tonight

they bought instagram, nurtured it and now they're starting to monetize it.he difference i see and the thing i focus on if i'm evan, mark zuckerberg did a tremendous job bringing in great people around the company around him. he runs that company. it's his company. but he's got sheryl sandberg and dozens more who help him run a very big and grow a very big company. evan is starting to build that team today. we'll see how he does over the next two years. >> always fun, ross. i'm thrilled we get to do it more as you're our new cnbc contributor. >>> gold hitting its highest level in months. we'll head to the futures pits next. >>> plus susie welch's exclusive sitdown with bill belichick. we are going to play the word association game with one of the biggest success stories ever in sports. "halftime report" back after this. i like russo. his on/off splits are the best here. yeah, but his offensive win shares didn't even break 4. come on, check out that stop-and-pop! what do you think? my trade-off analytics indicate no one creates more space on offense. this allo

people on the put side, people could be monetizing the long puts at closing out. back to you. scarlet: coming up this is bloomberg. ♪ , italy's finance minister. this is bloomberg. ♪ mark: it is time for first word news. issued 271states has sanctions in response to bashar al-assad's allegedly use of chemical attacks. it is one of the largest in history. steven mnuchin made the announcement today. earlier today the united states department of treasury's office of of foreign asset control imposed sanctions in response to the april 4, 2017 sarin attack on innocent civilians of the syrian dictator bashar al-assad. that was the latest response to his alleged use of that killed 80 civilians. white house officials will gather on capitol hill to layout details for the potential for an plan to republicans. this comes one day after he announces his plans for changes to the u.s. tax code. you managed -- gary cohn and treasury secretary steve mnuchin,'s paul ryan, mitch mcconnell, the leaders of

in 2006 andmounts 2007 have been monetizing over the last four years. as lps and have their coffers filled with tremendous amounts of cash, they want to put money back into the industry because returns have been better than people feared. as the fundraising markets have been very strong, putting the market back into the market, we've seen the elephant passed through the snake, they will be fewer distributions going forward and i think everybody is thinking it's a bit late in the day in economic expansion at some point we may have a macro shot of some type that may drive returns down. we may find a perfect storm in the future of less cash loans lps and returns being compressed by adverse macroeconomic conditions and actively to potentially tougher fundraising environments down the road. >> you mentioned a challenging deal making environment as well, valuations seem to be extraordinarily high. we had a huge robin u.s. stock market. what is the outlook there for the rest of the year? will be tough,g prices are going to be high. with a amounts of dry powder

the deals have been monetizing over the last four years.he lps have had their coffers filled with tremendous amounts of cash and what to put money back into the industry. because the returns have been better than people feared. and so, as the fundraising markets have been very strong, putting that money back into the market over the last few years, we have seen the elephant pass through the snake. so there will be fewer distribution sales lps going forward. everybody is thinking it's late in the day in the economic expansion. at some point in the next five years, we may have a macro shock that may drive things down. there may be a perfect storm in the future of less cash flowing. and returns being compressed by the adverse macroeconomic conditions. that will lead to potentially tougher fundraising environments down the road. jason: interesting. you mentioned the challenging dealmaking environment as well, valuations are extremely high. we have had a huge run up of the u.s. stock market. what is the outlook? hugh: dealmaking is tough because

but why do these exact same companies also have to monitor us, gather our data, and in some cases monetizethat part of the transaction? >> rose: why do they have to be in their judgment all-knowing. >> it lets them market to us, make us better consumers. that's one thing. >> rose: when you tried to make this adaptation for film, such a novel that was so big and such a success, what are the challenges and what are the resks? >> i think the challenge, a novel air, great novel like "the circle" is a big, unwieldy, ambitious collection of ideas, challenging ideas of characters and plotsdz. i think to literally adapt this book into a film would have made a 10-hour-- would have made a 10-hour miniseries. so i think for me it was really focusing on the central journey of the protagonist, of her wants, needs, hopes, dreams, fears, and focusing in on those things in a way that focused more on the character than on the company. >> now here's a look at your weekend. the new orleans jazz festival and heritage festival opens at the fairgrounds race course in new orleans. ♪ get on down the stagecoach co

there is vast potential here to monetize the presidency, which, when a person's brand and the way that these efforts have been manipulated by the president ought to give pause. i am of the opinion that it is no longer just a good idea to examine the president's tax return, i think it is imperative. there are all sorts of issues. each week, we are finding more connections with the russians coming out, seemingly every day. we are all aware of the $100 million payment from a russian buyer of a home that donald trump just bought not too much earlier for $40 million. what was going on with that transaction? can we find out what improvements were made? dealing with offshore accounts. his stated opposition to the alternative minimum tax. we have only seen one tax return in the last 25 years, but out of that revealed there was some $30 million in alternative tax payments. how much does he stand to gain with his advocacy for eliminating the alternative minimum tax? these are things that the american public, i think, is entitled to know and it is important for the committee to to evaluate -- to

. >> i think it's really all about monetization, right?million for football and they monetize it how? amazon pace $50 million for it and now all of a sudden, you've got takz access to prime, they' winning the living room battle. ostensibly, you have people on their phones that run out of chips during the game. go prime now, they order something. it's really all about the monetization mechanism behind it. and that's what justifies the expense for the content. >> so you think it's a fair price? you don't worry that they are driving up content costs for everybody else? or the whole industry? maybe even nbc, cbs? >> i mean, that's really not their problem, but, you know, look, i think cbs -- >> no, but it's the other guys' problem. that's the point. amazon is not the problem. it's not their problem. they're the guy on the street, when every home is selling for $300 that comes in with a $750,000 all-cash bid. >> i think that could be a problem overtime for netflix. netflix has its own issue with international and suband pricing elasticity. but,

their ability to increase the number of users and then monetize on it.e seen how it has grown in the past three years. we do expect it to continue to grow as well. yvonne: it seems tencent is a must-have in a lot of these funds that you do have. in fact, one of your own that you manage. will that continue to support the tencent price been? >> i believe so. their ability to keep the growth they have showed over the past two years. i think people will definitely be withholding the stock as it has been a good story. ,etty: it is interesting looking at here in the u.s., how investors are looking at not just chinese stocks, but emerging-market stocks in general. i want to pull up a chart here that shows what investor is like. like -- it shows that in the first quarter, investors bailed out of stocks in the russell 2000. they went straight into emerging markets. i'm not sure if it was a one-for-one trade-off, but it shows the divergence here between the blue and white line. what does that tell you? where does the investor appetite come from? patricia: i think

the big issue though is this is a company with a scant record of monetization.ive gross business model that we have not seen before, so i don't fault r having a dirgen' and view looking at the same set of facts. extrapolating/are growth in their ability to generate ad revenue per user or in their ability to go from teenagers and young adults to a mature audience. the apiu reported opening up could accelerated. >> this is the way you by automatically. the majority of the campaign bespoke.pchat was th an api allows you to make an ad and the computer decides who your target and when you run. launched its api in 2011, but it accelerated the growth from 20% to 80%. their api,r launched they saw the benefit one quarter later. cory: china is attempting to clean up the reputation of cold. we will get the latest from the largest coal producer next. if you like us, check us out on bloomberg radio. in the u.s., on sirius xm station 119. check us out. this is bloomberg. ♪ cory: one company that cannot stay out of the spotlight, uber. uber's says it will pull out of denmark

are you monetizing the business at the right pace for your enthusiasm? >> i think so.wn at an average of about 100% a year over the last five years. our growth topline and bottom line have been phenomenal. we have been profitable for many years. we are running our own race. we have had several seminal moments in our history. million raised $130 from korean strategic. last year, we bought a san francisco company that got us into the intellectual property market. they did the original "family guy" game. they have a marble game. about half of our employees are currently in san francisco. caroline: is m&a where does that? let remain in your playbook going forward? >> we are going -- growing organically. we have a long history of doing a great job with m&a. so id my company to fox understand it on both ends. as we get into new genres, we will do that mostly through m&a because the mobile gaming market is consolidating in a huge way. there are only a handful of big companies left. caroline: consolidating. prey or dover bee you aim to be independent? >> an ipo is a natural gr

if we can monetize them because retail business is not doing so well, we can at least get money fromte. vonnie: you have the so-called startups, silicon valley darlings, what are they doing differently? >> it is a much smaller scale. all of these companies are opening retail real estate, but it is a much smaller scale. vonnie: thank you. i want to turn to president trump. he is speaking to the north american building trade union in washington at their legislative conference. he is about to take the podium. symposium atg a the white house with ceos mainly from new york. they talked about workforce development and other items, including regulation. he is expected to talk about infrastructure. let's listen. president trump: i know them too well. they cost me a lot of money. i spent a lot of money, but i love them, and they are great. they're people are fantastic. nobody does it like you people. nobody. we talked about that. incredible people. it is great to be back with america's builders. [applause] president trump: did you ever think you would see a president who knows how much concre

new-to-monetize stuff.n learning more about what you are doing in the real world, and how can they better target you with brand dollars. caroline: augmented reality is something they have been pushing into potentially copying snapchat to an extent, but they have always been there from the sense of virtual reality. can you talk to us about those announcements as well? sunny: with virtual reality, oculus is an amazing piece of technology, but it was a missed market opportunity. it was first to market. facebook got the venture capitalists all excited. we start investing in vr and ar. i think they recently announced something called spaces at f8, which is a way of us having 3-d avatars of ourselves being able to communicate, watch contents together, share photos, etc. a real presence. it's pretty cool. i tried it yesterday. they want to go cross-platform. they are not tying themselves to their own hardware, much in the way that apple often does with the os layer on its smartphone. i think we are is very excitin

our national security interest can't be monetized. what are the threats we face. isil is a threat to the homeland. the sooner we destroy them, the better off. assad means the war never ends. it's not good for israel and jordan. on september s 10 we didn't have one soldier and we got attacked anyway. here's what i do if i was president, i would leave about 8,000 to so thousand troops in iraq. are you okay with that? >> tucker: i suppose. i guess, i think, like most americans are skeptical about starting an entire new war. given the track record of the war you have supported so far. >> here's what i would say. the world is better off without saddam hussein. the world is better off without qaddafi. >> tucker: thank you for joining us. the reviews are in on last night's attack. the media loved it. most of washington was thrilled. even democrats in congress, ones denouncing the president managed to say nice words about last night's mission. so who is not on board? according to a piece by ben. the skeptics are limited to trump's troll army, racist and conspiracy mongers

a flat boat transfixed lincoln the core economic principles such as free labor, transportation monetization internal improvements and most assuredly the need to attract immigration. his trips to new orleans represented his journey to the slave south, the places where african-americans abounded but also dominated overwhelmingly. new orleans was the largest city he had ever seen. it would remain so until he stepped onto the national scene as a newly elected congressman in 1848. more importantly, he represented the most ethnically diverse and foreign city in the states. while lincoln would take a day trip to niagara falls, new orleans would represent the closest he went to another country. i would say, on, niagara falls, that is not like leaving the country. with the different religions he experienced in his early life, these early trips made him and -- engulfed him in the different cultures of the south. it gave him something like no other experience in his life. with this social and economic political landscape, there was a young lincoln in 1828. evidence of ethnic tension had been obvious t

why do these exact same companies also have to monitor data, and our monetize it?s that part of the transaction? charlie: why do they have to be all-knowing? it helps the market to us, be better consumers, that is one thing. when you decided to make this adaptation to film, it was so big and such a success. what of the challenges and what are the risks? james: a great novel like the circle is a big, unwieldy, ambitious collection of challenging ideas, characters, and plots. to literally adapt this film into a book -- book into a film would've made it a miniseries. for me it was focusing on the central journey of the protagonist. her hopes, dreams, wants, fears, and focusing in on those things to focus more on the character than on the company. charlie: did you write the screenplay on the spec? james: i did, and then dave and i worked together after that. he was a wonderful collaborator from the very beginning. urging was to not be blindly or literally adhering to the book to read is said his favorite film adaptations were ones that respected the themes of the book

but the big issue is that this is a company with a scant record of monetization.lling advertising for less than two years. it has negative gross margins, a business model that we have not seen before. so i don't fault analysts for having a diverted view looking at the same set of facts here. and the people who were bullish are doing so, kind of extrapolating growth either in their ability to generate ad revenue per user, or in their ability to go from teenagers and young adults to a mature audience. cory: you reported the api is opening up with something that could really accelerate. describe that. jason: this is the way you by automatically. up until now, the majority of the campaigns with snapchat was bespoke. you have to part with the company, with ad agency. it was a lot of effort. what an api does it allows you to make an ad and the computer decides who you should target and when you run. if we look back to facebook, they launched their api in 2011, and it accelerated their growth from 20% to 80%. ok. when twitter launched their api, they saw the benefit one

you have lost a lot of privacy of from the internet because they're trying to figure out how to monetizea: i thought this was important for us to cover because we are talking about so much about government surveillance. incidental collection. it's enough to make anyone pay attention and worry. then i wonder about the collection that's happening that we are not even realizing. nothing to do with the government, has to do with private companies. what are your thoughts on that in general and what do you think about the average consumer to protect ourselves? >> right now, the cia are a little bit jealous of the amount of information that google and facebook and amazon are collecting. it's far-reaching, it's more expensive because they are not an agent of the government. they don't have -- there is no amendment protection from google or facebook whereas there is from our government. we will continue to see that data collected. the government should always be restricted. as we are finding out in these disclosures, , on redacting of americans names, privacy is a very big thing. speaking of priv

the airbnb experienced platform can give people a way to monetize their skills in a way we have neverbefore. i'm very excited about that over the next decade. caroline: you say we will adapt as humans. is it ever the responsibility of technology to help with that adaptation? is it always a regulatory, political thing? >> i think we always try to help from a technology perspective. but you are not going to be able to artificially stop it. you have to work with it and adapt with it and have technology do things that are helpful for society. humanity has to adapt along with it. that is what we are doing. caroline: you have got a lot of eyes on you because of your reputation and investments you have made, the exits you have delivered for founders fund. how do you feel startups are looking at you at the moment? there was some negative reaction to peter thiel's controversial and sometimes unconventional viewpoints. has that changed in any way how many startups are able to get in front of you and how attractive you are as a vc? >> we are a collection of individuals. we don't always agree wit

but as far as it ipo'd a few years ago, everybody ask asking how it can monetize it's -- here's the issue. i think the quarter's weak, and what's happened when we have weak quarters here, is even though there may be better times ahead, people cut numbers, people say negative things and the stock drops, i think what has to happen, you got to get this quarter out of the way, before you could possibly think this could be a better quarter. is the company worth more to an acquirer? is it worth something to somebody else, absolutely, but on a pure earnings basis, we get numbers slashes, and that cou could -- it is drifting down to an interesting level, though. neil in tennessee. >> >> caller: boo-yah from the tennessee mountains. with the price of oil and gas up and down and new pipelines being built all the time. is kinder morgan a hold or a sell? >> kinder, remember, did slash its distribution. there are a bunch of others that did have to because they have better balance sheets and i recommend those over kinder. welcome to the second quarter, we anticipated some profit taking and that gives y

we like all these things but why do these companies have to monitor us and monetize it.why is that part of the transaction. >> charlie: why do they have to be all-knowing. >> it helps them market to us and make us better consumers. >> charlie: when you made the adaptation what is the idea? >> it's the idea of characters and plots and i think to literally adapt the book would have made a ten-hour miniseries. for me it was focussing on the central journey of the protagonist. her hopes, wants, needs, fears and focussing on those things that focuses more on the character than the company. >> charlie: did you right the screen play on speck? >> i did and dave and i worked together on it after that. he was a wonderful collaborator from the beginning. dave's real urging when i first started was to not be blindly or literally adherent to the become and said his favorite adaptations were the ones that adapted the book but with their own sense of invention and understand they're different mediums. >> charlie: is it satire or terror? >> it has a dark sense of humor and a character s