chris sacca: and silicon valley. emily: yes. chris sacca: yes. inevitable that the funders putting this money to work will not see it all back. emily: are we in a bubble? is the bubble going to pop? chris sacca: there are multiple ways to define that. emily: yes or no? chris sacca: yes, some companies are going to go away. 2000 and where you can't get a -- it is going to be like the year 2000, when you cannot get a u-haul because they have all gone one way out of town -- no, because this is the epicenter of innovation, just out of whack right now. emily: what you think is the biggest problem in silicon valley that is not being talked about now? chris sacca: there is nobody normal left here now. all of the normal, regular people have been priced out. the artists cannot live here anymore. the musicians cannot live here . you don't even need nurses, or doctors, frankly, who can't afford this city. that is messed up. i think the biggest problem here is computer science programs are so lucrative now the kids do not need to pay money to go to them. the

sacca is saying twitter hasn't done that. to how he describes what he think's twitter is and when it grows up. dick: i deeply feel that the platform is the very best way to connect in real-time to what is happening in your world. emily: twitter is the best way to connect to your world? dick: things like live, in the moment -- this is an amazing thing and happening right now, live broadcasting, live video. it's going to be the future of the platform. i think that is the future of the platform. emily: how satisfied are you with his response? do you think he is articulate in the vision well? om: i don't know whether he is or he's not. i can't really tell. that is a small segment of a much longer conversation. i think it lacks the little bit of nuance and context. that said, we are all looking to demonize twitter at a time when they are facing competition from all different places. they are facing competition from facebook, snapchat, instagram, and whatsapp. those are four major players taking our attention every day bit by bit.

emily: chris sacca, thanks so much for joining us. it is been great to have you.is: right on. ♪ with xfinity from comcast you can manage your account anytime, anywhere on any device. just sign into my account to pay bills, manage service appointments and find answers to your questions. you can even check your connection status on your phone. now it's easier than ever to manage your account. get started at xfinity.com/myaccount emily: twitter looks for a new ceo. and what wall street expects. i'm emily chang. this is bloomberg west. unhappy read it users flock to a new website after ellen pao ban on harassment groups. and what to expect from the world's most important gaming convention, e 3.

emily: chris sacca, thanks so much for joining us. it is been great to have you.s: right on. ♪ ♪ emily: she took ebay from a 30 person startup to a multibillion-dollar powerhouse. and then lost a race for governor. and now meg whitman faces her biggest challenge yet, turning around struggling giant hewlett-packard. the solution, to split the company in two. joining me, hp ceo meg whitman. thank you for joining me. meg: you are welcome. i am an admirer of your show.

i sat down with chris sacca just days before get costello announced he was stepping down.ope you don't mind me calling you brash. >> that's probably accurate. emily: you released in 8500 word missive about twitter, what twitter can be area -- can be. before we cut to an ad for a medicaid-sponsored scooter, what is it? >> it sound like a term paper. i have been invested in twitter since you could invest in twitter. i have been a user since 2006. i have been assessed. it is a big part of my business. one billion people have tried it and not stuck around. twitter needs to be more accessible. emily: have you heard from him? >> i have not heard from him. i don't talk to him all that frequently anyway. it worked out. it's not out of the ordinary to not hear from him. i talked to a bunch of other people at the company. it was really well-received. done right, it sets them up for success. points wall street in a direction of, this is how you should be. you should not be headhunting the ceo. you should be focusing on these things. if they execute on the stuff i out, no one will be

emily: chris sacca, thanks so much for joining us. it is been great to have you. right on. ♪ with xfinity from comcast you can manage your account anytime, anywhere on any device. just sign into my account to pay bills, manage service appointments and find answers to your questions. you can even check your connection status on your phone. now it's easier than ever to manage your account. get started at xfinity.com/myaccount ♪ emily: she took ebay from a 30 person startup to a multibillion-dollar powerhouse. and then she ran a hard and expensive race for governor and lost. now, meg whitman faces her most ambitious challenge yet, turning around struggling giant hewlett-packard. her solution, to split the company in two. perhaps the biggest separation in the history of american business. joining me, hp ceo meg whitman. thank you so much for joining us.

i sat down with billionaire lowercase capital's chris sacca just days before twitter's ceo dick costolonnounced he was stepping down. thank you so much for being here. i hope you don't mind me calling you brash. chris: that's probably accurate. emily: you just released a 8500 word missive about twitter. about what twitter can be. before we cut to an ad of a medicare sponsored scooter, what is twitter's future? chris: 8500 words sounds like a term paper. but i had been invested in twitter since the first time anyone could be invested. i have been a user of twitter since 2006. i have been obsessed. it is part of my business. there have been more than one billion people who have tried it and not stuck around. twitter needs to be easier and less intimidating for these people. emily: what has been the reaction from twitter? have you heard from dick? chris: no, i haven't heard from dick since i posted that. to be clear, i don't talk to dick that frequently anyway. we are pals. it is not out of the ordinary for me to not hear from him. i talked to a bunch of other people at the company. it was

emily: chris sacca, thanks so much for joining us. it is been great to have you.hris: right on. ♪ just because i'm away from my desk doesn't mean i'm not working. comcast business understands that. their wifi isn't just fast near the router. it's fast in the break room. fast in the conference room. fast in tom's office. fast in other tom's office. fast in the foyer [pronounced foy-yer] or is it foyer [pronounced foy-yay]? fast in the hallway. i feel like i've been here before. switch now and get the fastest wifi everywhere. comcast business. built for business. emily: twitter looks for a new ceo. and what wall street expects. i'm emily chang. this is bloomberg west. unhappy read it users flock to a new website after ellen pao ban on harassment groups. and what to expect from the world's most important gaming convention, e 3. first to our lead.

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emily: chris sacca, thanks so much for joining us. it is been great to have you.is: right on. ♪ ♪ >> i was told when i started that i could not be a director because i was a woman. i have been directing for many years. but certainly not as frequently as i would have had i been a man. i was going into meetings on projects with people as a featured director that would work with academy award nominated actors. i should have been taken seriously in these meetings. but i wasn't. it was always a sense of, can you really do this? that a man could do it better. >> people would say thingsik

emily: chris sacca, thanks so much for joining us. it is been great to have you.: right on. ♪ ♪ ♪ ♪ get excited for the 1989 world tour with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. erik: from west texas shale to drilling rigs far offshore -- >> we need a hand on the handrail. erik: from angola to australia -- >> you're looking at the inside of an lng tank. erik: a thirst for energy has pushed chevron to almost every corner of the globe. >> we believe there's opportunity to progress. >> good job, erik. erik: the giant company is active in 180 countries. >> it is the largest resource project in australia. erik: pumping almost 2.6 million barrels every day. these are challenging times for big oil. fracking has upended the global market. renewables like solar and wind power are getting cheaper, and

emily: one of the things that sacca was very clear on is that he wants twitter to be easier to use. billion people have, to twitter and they have not stuck around. -- one billion people have come to twitter and they have not stuck around. george: i think he has a valid point. emily: he wants to focus more on live video, to make it easier to see the nba tweets from players during the game. george: i definitely agree with almost everything that chris wrote. there has been experiencing around periscope, which i think is cool. but the core experience is limited and has not gotten significantly atbetter. there has been a constant rotation of product, which has told me there was not a good vision around the product. tim: you turn management around that way you will not get progress on anyone roadmap. emily: we talked about facebook, alibaba -- do you think any of these committees would -- any of these companies would be possible for a deal? tim: i view facebook as a publishing company. they continuously by new channels. -- buy new channels. instagram and whatsapp are both new channels. ta

. ♪ pimm: chris sacca is known for his brash opinions, cowboy shirts, and early investments.via: he offered a message to twitter. emily chang joins us from san francisco. pimm: you spoke with sacca about in the real unicorns are silicon valley. what is a unicorn? is a private company that is worth over $1 billion. there were more and more in silicon valley. guy who does not hold back. there are a lot of naÏve and desperate investors who want to get into tech. he gave me one prominent example. carl icahn. what happens to all of these unicorns? how many of these are horses masquerading? naÏve investors throwing out term sheets with no diligence. lyft.cahn investing in that is an example. if you really look at this thing, it is not going to be a two horse race. lyft does not survive. lyft isou think gone? company.er is a better lower pick up times, better maps, higher quality of service. investor. are in uber chris: i am a huge uber investor. i don't think lyft will be able to compete. emily: isn't that like saying there were going to be no other restaurants because of mcdonald'

. ♪ emily: what is the myth of chris sacca and what is the reality?hris: i never followed the step-by-step path you're supposed to do to do this. i had no business being a venture investor. i had no business quitting my job at google. they were getting pretty big. it was becoming bureaucratic. i am not good at playing company politics. you know who was was sundar, i knew that this guy was going places. emily: he has obviously done well. chris: yes. he will be the ceo of google someday. it was just obvious back in the day that he would do that. emily: what do you think of how he is leading google now? chris: sundar is an incredible compliment to larry. out use as a foil in meetings. we both have good ideas, but he can actually navigate a big company, and i can't. i have sharp elbows, i have opinions, i'm impatient in ways that i think are more similar to elon than sundar. emily: in what way? chris: tough to work with. i demand everything to be exactly right. i grew up with just my parents' excellence where it was expected. it was not even demanded. we

b kflt is a sire of this, i'm also a sire of sacca's shirt.t thing was killer. >> i think the most interesting thing from a trading perspective is i look at the implied volatility right now in twitter, it is half of what it historically would be trading up. i think there are tremendous opportunities you about i also think if you look back this strong was grinder around this level in the early part of 2015 and here we are again. i think it's going to take a month or two before. we need a catalyst before we start to see that move to the upside. >> two food stocks with two big moves. yum brands popping on chatter. nelson pellets is interesting in jumping into the name. nelson pellets try end does not have a position in yum and wendy's announcing plans to buy back 1.4 billion signed -- excuse me, 1 billion shares by the end of next year, 211 million in stock from pellets's try in. wendy's largest shareholder. >> the big catalyst is that big buy back and the fact that i think pellets has been finally satisfied with what he has been sitting there tr

i sat down with billionaire lowercase capital's chris sacca just days before twitter's ceo dick costolo he was stepping down.

chris sacca, joining us later on the "closing bell." for the first time american kids are slated to live a shorter life span than their parents. it's a problem that we can turn around and change. revolution foods is a company we started to provide access to healthy affordable, kid-inspired chef-crafted food. we looked at what are the aspects of food that will help set up kids for success? making sure foods are made with high quality ingredients and prepared fresh everyday. our collaboration with citi has helped us really accelerate the expansion of our business in terms of how many communities we can serve. working with citi has also helped to fuel our innovation process and the speed at which we can bring new products into the grocery stores. we are employing 1,000 people across 27 urban areas and today, serve over 1 million meals a week. until every kid has built those life-long eating habits, we'll keep working. what if there were only one kind of dog? then it would be easy to know everything about that one breed. but in fact, there

should facebook be worried if google listens to chris sacca and buy twitter?s it a tech bubble or tech boom? how long the good times will last. big moves in the streaming music industry ahead of apple's announcement. how soundcloud is storing up its market share. all of that ahead on bloomberg west. dish network has been in talks to buy t-mobile for years, but no indication a deal is imminent. still, recent reports of a potential tie up have sent t-mobile shares up 2.5%. the deal would put the ceo at the top of the comedy -- the top of the company while the dish ceo would be chairman, but the purchase price has not been decided, but together these companies have market value of $64 billion. will a good a deal like this help streaming customers? joining us now, alex sherman who has been reporting on this. we also had keith, who -- we had keith, who will be with us throughout the show, and we also have a senior analyst from new york. alex, you have been working the phones and you have status updates. alex: the wall street journal reported this morning that the t

this comes on the back of well known twit are shareholder chris sacca. here's what he told the "closing bell" yesterday. >> i don't see the stock going lower than where it is today. it has too much potential for advertising. microsoft, fable, google with all want to own this company. we're at a floor now. i'm interested in this stock being two, three times more valuable. ken, great to you have with us. this seemed to be a relative compare. you like facebook better. competitively facebook is better so you downgrade twitter. is that what it is? >> no. we have been arguing that scale and differentiation are very important. twitter is not as differentiated. the matrix are not super compelling. when you switch to the product side of things that's where it gets muddy. when you look at facebook they're doing some extremely interesting things and coming not just to advisers but publishers that that's where their content should really exist. i think when you start to increase the speed in which people can view that content, the idea of linking outside of facebook

. -- chris sacca. i interviewed him for an episode of "studio 1.0" that will air tonight.hris: i talked to a lot of people at the company. it was a well-received post. i think, done right, it sets them up for success. it points wall street in the direction of this is how you should be evaluating a company. you should not be headhunting a ceo. you should be focusing on these things. emily: one of the things that he was very clear on is he wants twitter to be easier to use. one billion people have come to twitter and they have not stuck around. does he have points here? guest: he definitely has a valid point. emily: he's calling for some dramatic shakeups in the product, focus more on live, live video to make it easier to see those nba tweets from the players during the game. guest: i have agreed with almost everything they chris wrote. there has been some product experimentation which is pretty cool. but i think the basic core experience is limited and has not gotten significantly better. there has been pretty much a constant rotation of vp of product, which basically has t

i set down with sacca. chris: i think it would be a creed of to google and what they are doing product-wise. they had never gotten social personal identities. they haven't nailed any of that. the insights that come from twitter would immediately feed into their adage. it would make them a ton of money. i think it would be a business deal that wall street should be able to wrap its head around immediately. i think those teams would mess h pretty well. i said that for microsoft and facebook. zuck would not let twitter go to google without making a bid. he sees so much potential. some people i know are very close to him. his perception that twitter is not doing everything they could has not changed. he would love the opportunity to own it and to improve it. back when we did the search, monetization deals when twitter first started selling its search data, he negotiated that deal. he was across the table from me. those are the three people. i think alibaba might be interested. emily: facebook, microsoft, and go

emily: that's interesting, because chris sacca just told me he did not invest in in sicard ing -- annstant cart -- an instacart, because he thinks uber will cover that. area that: the third i think is explosive is what happens in the emerging markets. billion cell phone users are going to come from india and china, so the fact that all of our contact information is trapped in this phone is an old idea. they belong in the cloud. beth and i backed entrepreneurs out of stock on -- holm, and -- stock they have a billion and a half numbers in the cloud. --ly: kleiner previously met made a bet that did not pan out. how you feel about making that mistake again? makedoerr: i don't want to mistakes, but most importantly i don't want to repeat them. we want to explore new areas. an example is augmented -- not virtual, but augmented reality. hopefully later this year you will be able to put on a set of glasses -- bigy: facebook has made bets on virtual reality. why do you say augmented versus virtual reality? john doerr: facebook is a great that youbut the idea will block out everything to get

emily: it is interesting, chris sacca just told me he did not invest in those kinds of companies, becausee thinks uber will do that. john: i spoke with travis before we made those investments, and i got a different sense. we were thoughtful about that. but the third area is explosive, what happens with these devices in emerging markets. now, the next billion cell phone users are going to come from india and china. so the idea that our contact information is in this phone, that is an old idea. it belongs in the cloud, like a cloud-based white pages or yellow pages. beth and i, we backed entrepreneurs out of stockholm called true caller and they have over 1.5 billion phone numbers in the cloud. this is a good idea. emily: kleiner famously made a bet on cleantech that did not pan out. how much do you worry about making that mistake or missing the next google or amazon? john: i don't want to make mistakes, but most importantly, i do not want to repeat mistakes. and our limited partners have said that they want us to pioneer new areas and explore disruptive changes. an example of one i am exci

should facebook be worried if they listen to chris sacca and by twitter? tech bubble or tech boom? how long the good times will last. big moves in that streaming music industry ahead of apple's announcement. how sound cloud is storing up its market share.

i sat down with billionaire lowercase capital's chris sacca

chris sacca, outspoken investor wrote a blog post on twitter's ongoing ceo search.said quote the ceo transition announcements were sloppy and confusing. he said specific statements about twitter's future crushed investor hopes and turned what could have been a very positive event for the company into a debilitating mess. joining us to talk about it, bob peck of suntrust joins us on the phone. bob, good morning to you. >> thanks again for having plea. >> you were, i would say the first to argue costolo would be gone by year end. you were clearly right. what do you think happens now? well first of all, back in december said we thought this could happen. if he had execution issues and obviously it has now. so the question is who takes over. and you put out a note today where we identify top five leading candidates you know, two internal with adam bain and jack dorsey and mike mccue on the board and now ceo of flipboard and ross levinson, former ceo of yahoo and neil mohaned a google. and we've heard a range of 30 other names a that are very interesting. the top five yo

sacca also suggested that google, microsoft or facebook should make bids for twitter. mr. although companies can explain to their shareholders why they paid so much money for it and feature those companies with that blowing out or competing with something else they are competing with. i don't think apple cares enough. vonnie: you can see the full interview on "studio 1.0." tom: he is a breath of fresh air. vonnie: j.crew shaking things up as well after posting a disappointing first-quarter sales. it will cut 175 jobs. in soccer, it was only a neck submission game. the u.s. managed to beat the top-ranked team in the world. a 21 -- a 2-1 win. tom: this is men's soccer in germany. they are the best. brendan: germany as far and beyond -- germany is a most incomparable. what is interesting is that american soccer is becoming german soccer. the german coach is taking heavy conditioning work and applied it to the u.s. team. a lot of the u.s. players lay in the german leg. -- german league. tom: nevertheless good for the united states. this is serious, particularly after the impac

i sat down with billionaire chris sacca just before dick costolo announced he was

i sat down with chris sacca billion

. >>> and chris sacca watching our interview with twitter's adam bain.m bain just went on cnbc and told the twitter story with clarity and energy, the stock rallied, who would have ever imagined. twitter's stock flat when the interview began. now trading up better than 1%. best day in a few days. >> very interesting to hear what adam bain had to say about what they're showing advertisers over there in cannes and what the response is for it. he seems confident in their pipeline of the different products they hope to role out the rest of the year. >> a lot of good insight. both from this set and from cannes and kayla. >>> over to headquarters, scott wopner and the half. >>> welcome to the halftime show. let's meet the starting lineup. jim lebenthal is here with stephanie link and jon and pete najarian and our guest, paul richards of ubs, the head of fx rates and credit distribution. our game plan looks like this. spieth speaks. the u.s. open champ is live on his dramatic win and how he is scoring big off the course. ready for takeoff? can airline stocks re

brendan: chris sacca's advice is that -- we are going to stick with paul sweeney because we are goingo talk about fox in a second. evidently something happen there yesterday. our twitter question of the day -- how would you fix twitter? ♪ tom: good morning, everyone. bloomberg surveillance. he is 84. let's go to the morning must-read. the reality that the murdoch family faces -- the murdoch family wealth is heavily tied up in the value of the shares they own and it is less than you think. so even though nobody can stop mr. murdoch from turning the company over to his sons, the murdochs need to maintain the confidence of public markets to maintain their family." is this just about mr. murdoch 's 84th? seth: he has been grooming his sons for over a decade now to take over the entertainment company, foxconn and news corp.. rupert is the ultimate media mogul, and he is passing the reins to the next generation. tom: paul sweeney is with us, and seth masters as well. do you have to get on those wonderful cash flows? seth: you have to be careful about where you pick and choose to be. i think

. >> by the way, folks, chris sacca himself will be on closing bell today so do not forget to tune ins bring in jason from oppenheimer oppenheimer. great of you to join us today. jason, you have taken down your expectations of twitter by cutting the price tag. what are the suggestions from chris that you agree or disagree with. >> he is talking about how you make the product more appealing to more people. the war we are at right now means everybody wants to be your source of information. whether it's facebook or instagram, that's what they are competing with. the problem that twitter has is the other platt foreigns are bigger and growing faster. when i look at the data for the month of april and you basically had 57%. snap chat grew 34%. they are now coming from a tradition from behind. the question is what can they do to reinvigorate user growth? >> i think the suggestion is really with the investor concern with the company tied to moderation issues as well. i think the periscope that helped with the first option is a very, very engaging app. i think it can help with using engagement

♪ sleep train ♪ ♪ your ticket to a better night's sleep ♪ ♪ >>> long time twitter investor chris saccawords about the ceo change last week. he wrote any observer will agree that the ceo transition announcements were sloppy and confusing. investigators were left to try read the tea leaves about where the company was going. along the way, specific statements about the twitter future turned investor hopes and turned what could have been a very positive hope for the future of the company into something else. >> i only met him once. he's spot on here. he's what you do. dorsey should announce i'm taking myself out. i have to bring the square deal. i'm totally in charge of trying to figure out who's the next guy. i'm not. he's got to get out of the picture immediately. >> really? >> yeah. and they have to start talking about listen in the fall you will see radical changes in the way that you view twitter. you will now -- if there's an event, you will go to twitter, and just go to twitter.com and it'll take you to a list of ten things you want to do. when you watch nfl, go to twitter.com and h

they could hit the exit button according to sacca. >> this is a company that reminds me of camelot. >> really? >> camelot. was a great idea the round table, except it didn't exist. >> richard harris? was he in "camelot?" >> robert goulet. richard burton. >> i'm thinking the song. >> it's not supposed to snow in the month of june? >> we've got his mad dash next. there are a lot of other stocks to talk about. we'll get to a lot of them. take a look at futures. coming off a very weak day for the bond market. >> what's bad for them in europe is good for us. i like this down opening. it's all about the euro. not the base and not just twitter and t-mobile. we are getting criticized for talking about the most important of the day. >> richard harris was king arthur in "camelot." when a rewards card is designed to sync with your life it gets talked about... ♪ ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. shopping online... ...is as easy as it gets. wouldn't it be great if hiring plumbers carpenters and even piano tuners... were just as s

is chris sacca right about twitter? what do you think the potential is for the company?s need to be made? >> well i think his very long blog piece that he did, then the interview on your air was very thoughtful and very helpful. i'd be surprised if any of that was new to twitter executives or product management, either from chris or from themselves. so i think the more interesting news here was his comment about whether the company should be sold if they don't do these things. that struck me as a bit strong. >> max do you think there is as much potential, a natural fit for twitter on the part of google as chris suggested? >> thanks for having me. no, i don't. i think when people are frustrated in soil convalueilicon valley they talk about buying amazon or google. why can't they do a few things and get a 40% or 50% equity premium. i get the frustration. i also think twitter is worth a lot more than price reflects right now but i don't think it is all that likely. they got the search results deal with google which i do like. >> mitchell mike santoli here. you do mention th