>> she is still running theranos. a lot of people wonder why is she still running theranos given everything that has happenedment one very simple answer to that is she owns more than half of the equity of the company. so she is really in the driver's seat. the board of directors of theranos probably can't even unseat her if it wanted to do that. >> elizabeth holmes is theranos and theranos is elizabeth holmes. >> so to what extent is theranos technology being used? >> it's not being used at all in the sense that the company has now shut down its blood draw sites. it had blood draw sites in about 45 stores. most of them in the phoenix area. made the decision-- sorry, in walgreen stores and made the decision. >> walgreen's has sued them. >> walgreen's now sued them. those blood draw sites have been shut down. what the company is pifouting to is trying to commercialize this new device called the mini lab. and it is hoping that if it can run studies showing that this device is reliable and accurate, that it can then persuade the f

elizabeth holmes, of theranos. i know it's not exactly the same sort of thing, but it's laboratories and funding. got scads more funding than you did. when you looked at that did you think, wait a minute, i've got a ph.d. in genetics from stanford. did you look at that and say how did this go her way and not my way? >> i think that we're very different from theranos. >> you are. i admit from a layman's point of view. but you both have lab company. >> i think what it highlights is the importance of having sound science behind health tech, biotech, all of these areas. need to be predicated on well-established science. you need transparency. that's something that myself and my team is focused on. how we publish, putting it in venues where there's open access to the data. being very transparent about what things we do and how we do them. i think at the end of the day, that's the right way for medicine to be practiced, the right way for science to be practiced. >> has there been any after-shock from what's happened with

host: nevermind the fact that your owner of the newspaper was an investor in theranos. o tell you, it is a point of pride for us. journalists taken point of pride. there was some slickly no interference of any kind at any point. the editors handled the story from the get-go. i have to tell you that john and i had a lot of support from the editor in chief to the great lawyers, to the page one editors, this was a team editor. there was an enormous amount of support and never was anything but just keep going. host: rupert murdoch is not the only big-name investor in theranos. elizabeth holmes was able to secure some enormous contributions from some enormously popular and influential people at a very young age. >> yes, there are really two categories of investors. there are the people that came in early after she had just dropped out of stanford as a 19-year-old or 20-year-old, people like tim draper, the venture capitalist. the first million. and larry ellison came in in the first three years. don lucas who had groomed ellison. all of those people were there at the beginnin

he would have to step down if he becomes secretary of defense and he also tried to get the military to use theranosology unsuccessfully. what do you make of this? david: i am sure general mattis had no idea the test did not work. hopefully, what he learned from that is it is a good thing we have the fda to set rules and to apply scrutiny as to what it is that companies are going to sell to the public. when we talk about cyber security, this is an area where we need those rules. we need those regulatory -- these agencies are all trying to identify, promote, and enforce cyber standards among companies and government agencies in order to make cyberspace safer for everybody. i am hoping general mattis will pay more attention to the value that these agencies bring then theranos has to the fda. emily: that was bessemer venture partner david calendar. coming up, we get arianna huffington's take on how the media should cover president-elect donald trump. check us out on the radio, you can listen on the bloomberg radio app, bloomberg.com, and in the yuan -- no not do -- this is bloomberg. ♪ >> you are watch

he's on the board of the very controversial blood testing company theranos. n the board today. you would have to step down if he becomes secretary of defense. he also tried to get the military to use theranos technology unsuccessfully. what do you make of this? dave: i'm sure yet no idea the tests didn't work. it is a good thing that we have the fda to set the rules and to apply scrutiny as to what it is the companies are going to sell to the public. when we talk about cyber security, this is an area where we need those rules. we need these regulatory agencies like the ftc and fcc for health the cms care and the regulatory commissions. these agencies are trying to identify, promote and enforce cyber standards among companies and government agencies in order to make cyberspace safer for everybody. i'm hoping general mattis will be -- will pay more attention to the value that these agencies bring than theranos. emily: what about privacy, security? what about those issues under president trump and mattis at the pentagon? europeook, we are behind in setting standa

he's on the board of the very controversial blood testing company theranos. as we can tell, he is still on the board today. he would have to step down if he becomes secretary of defense. we also, as we understand it, try to get the military to use theranos technology, unsuccessfully. what do you make of this? david: i am sure general mattis had no idea that the tests did not work. i hope he learned that it is a good thing we have the fda to set the rules and apply scrutiny on what it is the company's will sell to the public. when we talk about cyber security, this is an area where we need those rules. we need those regulatory regulations, like the ftc and the fcc and sec and the cms for health care and the federal regulatory commission. these agencies are all trying to identify, promote, and enforce cyber standards among companies and among government agencies in order to make cyberspace safer for everybody. i am hoping general mattis will be -- will pay more attention to the value these agencies theg than theranos has to fda. emily: what about privacy and se

. >>> medical lab operator theranos predicted revenue of $2 billion and a profit of $505 million for rs back in 2014. and 2015. that's according to "the wall street journal." the s.e.c. and the u.s. attorneys office are trying to determine if theranos misled investors and regulators. theranos says it is cooperating. >>> autoparts retailer autozone out with retail earnings this morning. 5 cents above estimates. revenue was in line with profit margins improving. same store sales were up 1.6%. >>> all right. let's get to wilfred frost who's at the goldman sachs conference and joins us with a special guest. >> thank you. i'm joined by bill rogers the ceo of suntrust. great to have you with us. unsurprisingly positive mood here this morning. the stocks across the sector rallied. up about 14%. is that justified? is trump really that good for the banking sector? >> i think what's reflected is a couple things. one, it's pro-growth anticipation. whether it's here or not but pro-growth anticipation. obviously banks of fuel for growth. i think that's an accurate reflection. if we have higher gro

. >> as 2016 comes to a close, theranos is valued at zero, it's vaken up its operations and board ofopioid epidemic, but it wasn't until this april 21st that the crisis grabbed everyone's attention. >> cnn has confirmed that the artist, prince, is dead. >> prince died of a fentanyl overdose, a synthetic painkiller 50 times more powerful than heroin. overdose are now the most common cause of unintentional death in america. >> we're here to talk about an epidemic that kills 78 americans every single day. one death every 19 minutes from an opioid overdose. >> we hosted a town hall to bring to light this epidemic quietly killing people. we need solutions, doctors cutting back on excessive painkiller prescriptions. >>> in january, i travelled to flint, michigan, a town still reeling from a 2014 decision to switch its water supply to the highly contaminated flint river, levels of lead in the water were testing off the charts? >> 5,000 parts per billion is associated with toxic waste. this home, 13,000 parts per billion. in october 16, 2016, flint switched back to the detroit's water supply

theranos. into their-- hacked emails. it is easy. what is important is that the essence ofmation the hackers have brought to light. caroline: he went on to say that russia was the only country that win the donald trump to white house and accused hillary clinton being a bad loser. u.s. intelligence experts have said that russian hackers played an active role in meddling with the u.s. election. our best, more of interviews of the year, including a one-on-one with mark benioff. he talks about his relationship with larry ellison. this is bloomberg. ♪ caroline: so force is one of silicon valley's most inquisitive companies. brad stone sat down with the chief executive mark benioff and talked about many things. take a listen. >> ai is a huge movement in our industry and i think one of the things that has been great for salesforce as we have bought several ai companies, and that has included spending about $600 million for them. we've been able to take those employees, stitch them together into an incredible team and we are delivering an amazing a platform based on that technology

theranos. many people are wondering why. the simple answer, she owns more than half of the equity of the company.rd probably cannot even unseat her if they wanted to. extent now is the technology being used? : it is not being used at all in the sense that they have shut down there was -- their blood draw sites, most of them in phoenix. in the walgreens stores. host: walgreens is suing them. john: walgreens is suing them. now they are pivoting to offer a new device. they are hoping that if they can run studies showing that this device is reliable and accurate, that it can then persuade the fda to approve it for sale and then sell it to other lives and hospitals -- labs and hospitals. that is the new business plan. but it will be an uphill climb, because running a trial or a study is a costly thing and it is a lengthy process. they are only now beginning to do the real validation studies to try to prove that the minilab is accurate and reliable. the work is starting now. the question is, whether the company will have a life expectancy to see the process through. >> they are not going to be able to

theranos is now valued at zero. it has shaken up its operations and its board of directors. >>> for years we've been reporting on thentil this april 21st that the nationwide crisis finally grabbed everyone ace attention. >> cnn has confirmed that the artist prince is dead. >> prince died of a fentanyl overdose, it's a synthetic painkiller 50 times more powerful than heroin. overdoses are the most common cause of unintentional death in america. >> we are here to talk about an epidemic that kills 78 americans every day. >> anderson cooper and i hosted a town hall to bring to light this epidemic quietly killing people in the shadows. we need solutions and that begins with doctors cutting back on excessive painkiller prescriptions. >> in january i traveled to flint, michigan, a town still reeling from an april 2014 decision to switch its water supply to the highly contamin e contaminated flint river. levels of lead in the residents' water were testing off the charts. >> 5 parts per building would be cause for concern. 5,000 parts per building is associated with toxic waste. this home, 13,000 parts per billion. >> on oct

theranos. you were involved briefly i don't know what the state of play is. >> i never had an investment.of the company. the cleveland clinic did not -- what we offered to do is test the equipment. and verify that it worked or didn't work. we have never gotten the equipment. and our prospect of getting the equipment, first time we heard about it would be some time in the first quarter. >> and you think that's still possible? >> i don't know. >> are you maintaining communication with them? >> yes. >> but this equipment is different equipment than the original -- it's the cube system, right? >> it is a different system. i have no idea if it will work or doesn't work. if it doesn't work, we'll tell the world that it doesn't work. >> do you trust these people? >> you know, this is about trust and verify. we haven't been able to verify. >> well, we'd love to have you back on so many other issues but also to keep track of this one too. so thank you. >> thank you. >> great to see you, sir. >>> stocks to watch today, cost costco's first quarter profit -- switch from american express to visa cards