andreessen horowitz, sequoia, benchmark, kleiner? vinod: we tend to be much broader.you are going to advise entrepreneurs, you should have started a company, known how hard and painful it is, how difficult the trade-offs are. it is painful being an entrepreneur. life is not easy. and unless you have empathy for an entrepreneur by having done it yourself, you don't have the right to advise an entrepreneur, in my view. so one rule i had -- in 30 years, i have never ever voted against an entrepreneur. they do not need hypocritical politeness from board members trying to be popular and be their friends and not helping them think through the risks they are going to face and challenge them. and then the same board members want to vote on things as if they know enough to vote. they don't. emily: you also don't go to board meetings if you can help it. vinod: mostly i don't go to board meetings because i cannot stand to listen to other vc's talk about things that i actually think hurt entrepreneurs. emily: what is your advice to board members on how to be a ceo? vinod: first,

andreessen horowitz, sequoia, benchmark, kleiner? vinod: we tend to be much broader.are an enterprise company, then we will do burgers like impossible foods. we will do rocketry like rocket lab. and then we will do hard science. we will invent new medicine. so we do very unusual things. robotics, semiconductor stuff -- we have even done a nuclear project. emily: you believe that most vcs actually hurt companies, not help them. what do you mean by that? vinod: you know, applying traditional business school and business metrics to innovative start ups is the wrong thing. and when people focus on irr's and rates of return -- on those, they actually hurt the company. i don't believe just because you are an investor, you have earned the right to advise an entrepreneur by being a board member. if you are going to advise entrepreneurs, you should have started companies, known how hard and painful it is, how difficult the trade-offs are. it is painful being an entrepreneur. life is not easy. and unless you have empathy for an entrepreneur by having done it yourself, you don't

mather the first director it was named after him tuesday morning away amongst the pine the giant sequoiaants inventories first name if our title is camp means there's going to be dirt and bugs and so long as you can get past that part this place it pretty awesome i see i see. >> with a little taste of freedom from the city life you can soak up the country life with swimming and volley ball and swimming and horseback riding there you go buddy. >> we do offer and really good amount of programming and give a sample p of san francisco rec and park department has to offer hopefully we've been here 90 years my camp name is falcon i'm a recession he leader i've been leading the bill clinton and anarchy and have had sometimes arts and crafts a lot of our guests have been coming for many years and have almost glutin up, up here he activity or children activity or parent activity here at camp mather you are experiencing as a family without having to get into a car and drive somewhere fill your day with with what can to back fun at the majestic life the essence of camp mather one thing a that's bee

. >>> a mystery may have been solved in the sierra what is saving the giant sequoias and the source is thousands of miles away. >>> federal investigators are getting the first look at that time van filled with church groups and a truck accident. the only survivor is the driver from the van. and the pickup truck driver is in critical condition. the church members were returning home from a three day retreat. no word on what may have caused the crash. >>> an investigation goes on into the theft yesterday of an american airlines copilot during a plight to new mexico and the flight was going from dallas/fort worth to albuquerque and the pilot announced there was a medical aemergency. and they -- emergency and they eventually landed safely in albuquerque. and the copilot was given cpr. but he later died. >>> and today could be legal problems for president trump over trump university. a judge will look at when he'll approve or deny to settle a suit. they said that the classes were like info mer shalls. and if the judge accepts the settlement, the people will have about 80% of their fees refu

we actually hi found the sheep. >> there are so many amazing moments throughout with the sequoia andnd the guys climbing el cap, which you did. i thought you ended it so perfectly. your theme was how inter-related water is with that area and you ended it with the ten minutes each year that people can have this one site sight that is just stunning to see. do you want to talk about that? >> it's firefall. it's a limited amount of time, narrowly a week. just as the sun set that hits the waterfall and it glows like a ribbon of red fire and it's quite amazing. it's something the photographers have been trying to capture for years but because of the drought it hasn't happened. >> it gave me chills and i thought it was a lovely way to end. love the film. thank you so much. you ka catch it this wednesday night on pbs. >>> later millions of americans will be watching incredible rallies during march madness and you can bet many will be ordering pizza. ahead we'll be taking you to domino's headquarters in ann arbor, michigan, to show you how the company rallied from the brink of disaster to bec

caroline: sequoia, an investor in airbnb, has a chinese arm.y said they would help airbnb moving to china, and they would help with the search for a ceo for airbnb in china. that still hasn't happened. it feels like this has been a long time coming. brad: this is the road that every u.s. internet company must travel in china. we saw uber do the same thing and then retreat from china last year. there is a home-field advantage in china. people prefer the local player. the local player tends to integrate more with tools from alibaba. airbnb has rolled out its own integrations, but clearly they have a bit of an uphill fight. they can be a second or even a third tier player and still succeed. in india where they are strong, it is still 1% of their overall business. these are all economies that are evolving. there will be more travel to and from these countries. i think airbnb is positioning itself for the future, even if they have started somewhat slow. caroline: thank you very much. bloomberg technology's brad stone. a story we are watching for you

. >>> we know what is helping the giant sequoia trees and the source is thousands of miles away. >>> which cities are seeing a rental rebound with the prices going down? >>> we see that traffic is going to be okay here on highway 24. it is getting busier on the way to the tunnel. >>> we're tracking a few showers on the radar and gusty winds as well. the wind will be the dominant weather change for today. we'll talk more about that change and your weekend forecast coming up. >>> . >>> big changes at the oscars. the accountants will not be able to have their cell phones back charge. la-la land was mistakenly named best picture instead of the real winner moonlight. and the accountant was reportedly distracted, taking selfies back stage. he will not be allowed at the oscar show. >>> and samsung unveiled its long awaited galaxy 8 phone. and they had several inspections on the new phone and x-rays and extreme stress tests. you remember the massive recall of the galaxy 7. and it goes on sale april 21st. preorders start today. >>> chipotle is telling us that their food has no per -- preserva

sequoia on the other side. this perimeter the one police are watching. we are looking toward the peninsula. this does not disturb the flow of traffic on highway 101 and san jose. look at the volume of traffic on 680. back to you. >>> coming up next, a quick look at the top stories on nbc bay area including breaking news out of redwood city. there is police activity. a live report from the scene. following breaking news out of the east bay. the reason police officers opened fire on a car in richmond next. >> we are learning within the last hour that singer george michael died of natural causes. michael suffered from heart and liver disease. he died christmas day at the age of 53. >> tphe beauty and the beast is going to play in russia after all despite protests over a gay character. the decisions after a russian lawmaker petitioned to ban it there. bay area... breaking news just intournewsro a neighborhood.. are surunding this is happening right xto mckinley middle school.. =sam/bes= today in theay's bob just got tthecene-- bob whcan y? =bob/live= we're a

you know, when sequoia exited and when andrew got in on the short side. moments in time where you said that could have been the time. could have been the time. >> yep. >> all right, time now for straight talk. >> our daily dive into the calls of the day and do it literally, by state, new york, new jersey. see if we can pull it off. >> first up, i have every confidence, occidental, raising estimate, the price goes to 79 and energy valuations may look expensive. relatively s&p 500 but the analysts think occi is toward the low end of a net asset value and their position to further lower costs in its new logistics hub. >> everyone is going lower on costs. stock number two, questioning diagnost diagnostics. goldman likes it, love is it adds it to its conviction buy list and boosts it from 113 to 101. likes lower cost lab testers and think it will gain more. that $113 target on quest is about 14% upside. >> next up, abbott labs, bmo downgrading after it outperformed up 19% versus the s&p 500. abbott is within striking distance of 48 bucks a share and st. jude a

patients who are uninsured and low income who live around the redwood city area, specific in the sequoia health care district. >> reporter: every month 400 adult patients come through these doors. two dozen physicians and five dentists volunteer time. medicine is provided for free. but doctors had another problem. >> and sometimes it's a decision between, well, do i buy healthy food or pay the rent or pay the electricity bill. >> reporter: so in january of 2016, the food pharmacy modeled after one on the east coast opened its doors. doctors started writing prescriptions for food. >> mark off that they have diabetes or hypertension. >> reporter: food from the second harvest food bank specifically chosen to meet the needs of patients is set up right down the hall from examine rooms. >> so we have canned salmon and canned tuna. cereals for children. low sugar cereals for the children as well. more protein items. >> reporter: and the nutrition educator sits all the patients down for a talk. >> they come to me and i'm educating them on how to read a food label and talking to them about whole

hot water and as if he's asking us to see the forest for the trees here and one heck of a mighty sequoia and may be -- this may be about whether or not his comments with the russian ambassador was ultimately wrongful. the big picture right now, the big issue is that he not only answered a question falsely in front of the senate committee hearing, he also did it in writing. everyone's focusing on what he said to senator al franken. patrick leahy gave him a question that was pointed and a same response and sessions can't hide behind contextual clues or lost in translation. it is a serious thing to be -- to have testified falsely under oath. prosecutors salivate at cases far less consequential than this one. and in terms of the deputy attorney general, look, the next person in line to oversee the russian investigation that now that sessions recused himself is in a very precarious position. what they're asking him at a confirmation hearing that's signed to say, whether you're going to be objective and not come and try to enforce the laws with some type of political agenda, they're asking him

sec sequoia was in this. the only hedge fund anointed by warren buffett. this is not fly by night some shady thing that only one person was involved in. you had a lot of time as an investor to get out of this. this is not the same as long-term capital management which blew up, i think they lost $4.6 billion in less than a couple of months. and that was against the backdrop of a collapse in russia and asia. nothing like that was going on here. you had years to decide this is probably not going to be the next berkshire hathaway, which is what ackman once said. he said a platform could be worth $330,000 a share. the whole way down you had ample opportunity to second and guess that thesis. so, i think, you look at $9 billion at and you look at long-term capital management and those were very sudden. this was not. >> josh, appreciate you coming to the phone. we'll talk to you soon. >> yep, talk to you later. >> josh brown. >>> bill ackman has been on cnbc many times over the years talking about his investments. here's just some of what he said. >> when you unde

. >> also sequoia high school, nearby. they're open for the day. to use broadway entrance because the one -- the perimeter still closed. over here in the south bay traffic flowing slowly but smoothly. all the push is out of san jose moving up toward and through cupertino, santa clara, typical pattern down here. in oakland, looking at slower drive north 13, over to broadway terrace, crash clearing there. southbound side, slow to 580 and the like. smooth drive, look, the lanes off to the left are clear. fast track. >> we have more local news for you in half an hour. ♪ >>> 8:30, now. it's tuesday morning. the 7th of march, 2017. nice, big crowd out here on our plaza. a lot of people here. the acc tournament. what was it you told me to say? >> clemson and the points. >> got you. this gets under way in brooklyn this afternoon. and tomorrow, we're going to have another huge crowd. ed sheeran taking our plaza over for a live concert. >> we look forward to that tomorrow. >>> coming up this morning, alicia keys is in the building. we'll talk about her secon

and sequoia high school will remain open. it's just to the west of el camino real. and we have several closure points there. you'll want to avoid the area if possible. here's a live look outside at the san mateo bridge, we have a crash there and that is blocking the center lane east of the toll afoot and light-hearted i take to the open road. healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. >>> we've had dense fog bounce around the north bay. it's trying to slide into the san francisco bay. right now, quarterer mile, that's our lowest visibility. temperatures running cooler this morning from mid30s to mid40s. now, we're going to see an increase in clouds and temperatures. 50s at the coast, 60s for the rest of us. check out the 70s the next few days. reggie? >> looking forward to that. coming up, what really caused bill paxton's death. that's next on gma. we'll have another abc 7 news update in 30 minutes. and also it's just a date.

in integrating my community in any earlier years i'm responsible as an individual to sfwrart the sequoianion school board by the a.m. bibs of 3 hundred words on the ballot in differentiating a school bond issue unless the school board integrated a high school before the election and the people voted on the ballot measure down the district receives the federal grant that was withheld to the secrecy of the voters he disclosed and the district received more than the bond measure from the federal grant because the school district voted to the bond issue down and kept the money from the federal for integrating the school district i see this and it can be done in san francisco but you're doing it by making the person you pick out a person and use that person to get special - >> thank you mrs.lcroft mbes unfortunately, we can't discuss this when it is in committee but comment on anything outside of that as well as the items that are coming up in the adoption without reference to committee items thirty through 37 i want to make sure i clarify that. >> impossible to fix mr. farrell's. >> thank yo

you had the likes, of course, of the sequoia fund. we had valeant under attack from short sellers.ip with what we thought was an unaffiliated company, which was anything but unaffiliated. its ceo mike pearson started to have health problems. he took a leave of absence. the stock continued to go down. their ability to do deals, which was so crucial to the strategy valeant had in place along with raising drug prices, not spending a lot of money on r&d and having a low tax rate all didn't work anymore. the stock, of course, continued down. ackman stepped on the board. he helped find joe papa to replace mr. pearson. now finally he said i'm done. >> dave, do we know -- clearly he was able to take fees when the fund was up back in 2014. now that he's realized this loss, do we know how under water he is and what the high water mark is in terms of his ability to take fees in the future? he clearly does have permanent capital. it's not like this fund is going out of business any time soon. >> it's not. >> there is a question about the economics of this fund for everybody who works there. >>

in integrating my community in any earlier years i'm responsible as an individual to sfwrart the sequoiaon school board by the a.m. bibs of 3 hundred words on the ballot in differentiating a school bond issue unless the school board integrated a high school before the election and the people voted on the ballot measure down the district receives the federal grant that was withheld to the secrecy of the voters he disclosed and the district received more than the bond measure from the federal grant because the school district voted to the bond issue down and kept the money from the federal for integrating the school district i see this and it can be done in san francisco but you're doing it by making the person you pick out a person and use that person to get special - >> thank you mrs.lcroft mbes unfortunately, we can't discuss this when it is in committee but comment on anything outside of that as well as the items that are coming up in the adoption without reference to committee items thirty through 37 i want to make sure i clarify that. >> impossible to fix mr. farrell's. >> thank you

in integrating my community in any earlier years i'm responsible as an individual to sfwrart the sequoiaon school board by the a.m. bibs of 3 hundred words on the ballot in differentiating a school bond issue unless the school board integrated a high school before the election and the people voted on the ballot measure down the district receives the federal grant that was withheld to the secrecy of the voters he disclosed and the district received more than the bond measure from the federal grant because the school district voted to the bond issue down and kept the money from the federal for integrating the school district i see this and it can be done in san francisco but you're doing it by making the person you pick out a person and use that person to get special - >> thank you mrs.lcroft mbes unfortunately, we can't discuss this when it is in committee but comment on anything outside of that as well as the items that are coming up in the adoption without reference to committee items thirty through 37 i want to make sure i clarify that. >> impossible to fix mr. farrell's. >> thank you