orther it's in technology biotech sectors, you have seen some areas where there are shortages of labor these stem areas. >> you spoke about housing a moment ago. let's go back put. janet yellen said it gives her pause. showing book report many districts reporting low inventory and increased home prices. the current state of low interest rate environment, wasn't that supposed to be the thing that drove people to more homes? >> some people are still anchored to the high prices we had during the boom. the low inventory is a reflection of the fact that some people are still not putting their houses on the market because they want to make that killing in real estate. we have had a big recovery. we are not back to previous levels. as those start to come up to an annualized rate of 1.1 million by the end of the year, we will get more supply and it will help on the inventory side. >> what is the economy going to -- >> we are already starting to see some of it. there are projections from the american chemistry council which show that we are going to see job increases of 500,000 jobs a year from

. >> that is the orther thing. we need to look at our tran transportation system as one thf big assets. texas and alaska look at oil to do such. transportation is ours and part of that is because we are in the middle of the country. you almost have to go through illinois. it creates a lot of jobs; that transportation system. so we have to say this is the best asset when it comes to moving commerce and people through the state who buy goods and services along the way. we need to think about it in those terms so we bless the opportunity to put more investment in that and keep it current so that we are able to reap the benefits of the a thriving transportation system in the state. >> and you mentioned areas that do a shipping tax. >> absolutely. and those should be investigated. are they a fair system to support maintaining that asset? we think there are some. it is boom and bust system now. every 6-8 years we come up with a capital plan, fund it squen the eight years later we do it again. >> we are coming to the clos

is there still an element that the right could draw themselves, orther for clinical purposes financial> very much so in california. there has always been incredible independence among people who did not exactly go left and who did not exactly go right. they were not the middle of the roaders. libertarians, or they are the libertarians. >> and a lot of them like technology. >> absolutely, and rand paul, rand paul spends as much time as he possibly can doing the same thing hillary clinton does and doing the same thing barack obama does. he comes to california with a considerable amount of flair, and he is almost as acceptable from the standpoint of the goals with the tech worker as are the democrats. >> i will check my wallet and make sure it is still here. former mayor willie brown, always good to see you. thank you very much. the next area of scientific exploration could be the ocean floor. this is really cool stuff. it could transport us below the city to find our future. that is next. ♪ ♪ >> i am cory johnson, and this is "bloomberg west." series,g back to our looking at tech and the

one of the ironies here is that -- fox orther company time warner -- could be managed in a more interestingy by one of the digital players. i am not suggesting that google is going to come in and make an offer. entrepreneurship, their creativity in stealing the moonshot -- provide they are already in the business anyhow -- is an example of maybe the creative process needs to be more aligned with those companies that are delivering content to mobile consumers. just as an aside, where does news come from these days? facebookm linkedin and -- >> that's right. we are using our phones more in many ways before we use the television or the newspaper. or anywhere else to get our news. >> so i think this is changing our definition of what a company is. it is not just about we are in the period where conglomerates do not work and there is disaggregation. what is the core mission? , it something is digital can tell stories, provide communication. nations doclassic not apply anymore. >> i have to ask you this. i want to put this in context. taglineou to answer the that is always put on the , which isar