i said you have been in silicon valley. what concerns you or what worries you about what silicon valley is doing now. she had an interesting answer. she said all the smartest engineers and people in silicon valley are working on apps. they are working on things that make life comfortable or make it easy to make, say take the medical industry, make it easy to make a doctor's appointment but they are not working on tangible stuff. not just tangible products, medical devices for instance, but they are sort of looking inward on things that are about making us comfortable or entertained and not necessarily things like space flight or to take something i'm interested in, or medical innovations. >> so, peter teal -- peter thiel, you know him? i read his book and he says the problem is that you have this huge distortion because of market forces in silicon valley where everybody is sucked into spending all their creative energy on bits and not atoms and they are pretty inconsequential. what does uber actually do? it doesn't do anyth

good to silicon valley and work on an app. this is bad for progress. think it is possible we will look back 10 years ago on this period of silicon valley development as an enormous cul-de-sac. a dead end that had no real payoff to how we were living. whatu look economically at technology has done to grow, we are seeing a into different areas, but if you look at productivity, it is stagnated. we have not seen a lot of progress in getting productivity numbers of. we are on our phones all day playing candy crush. technological developments make our lives easier, but economically, how much are they moving the ball forward? there is also the philosophical question of what technologies do for us as human beings. we do not like to talk about what a democratic citizen should be. we are constantly debating that. needealthy democracy you well-informed people who are not easily taken in by fake news. you need people who can think for themselves. you need people who can make face-to-face connections. there are college campuses that have an introductory course teac

this is happened before in silicon valley.there have been press dens with mark zuckerberg and bill gates and taught. thes how to code and program on a computer when they were young, legend has it that zuckerberg taught himself how to code on his father's computer when he was ten years old, and that's believable. you can do that with a computer manual and you spend hours hourd hours at a key board but you can't do that in medicine. in medicine you have to have formal training go to medical school, often do a fellowship, get your ph.d, do post doctoral studies, do years of research, sometimes decade of research before you start adding value, and as i say in the book, it's no coincidence that most nobel laureates in medicine earn their nobel prizes in their 60s. takes a lifetime of training and work to add value in medicine, and i knew that. so i smelled a rat. but to be fair, i might not have done anything with that hunch if i hadn't got an tip three or four weeks later, and the tip came from a clinical pathologist who was based

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understand silicon valley.steve jobs, now it is elon musk, but really silicon valley has a different structure them at manhattan hub. it has a network structure. there are many kings of silicon valley. and queens, occasionally. -- you haves about to tell the story as a chorister do have to understand, all the players to really understand the full arc. otherwise, you're missing the point. emily: it is interesting you call the book "valley of genius ." i had to chuckle a little bit there. i wonder if there is any bit of sarcasm there. sometimes these big visions in this great genius doesn't quite work out the way it is promised. " was avalley of genius temporary title. i had to -- to write this, i had to get the cooperation of 200 billionaire types. emily: you do do interviews with larry page. adam: those are archival interviews. steve jobs is also archival. he died before i started. i have interviews with literal billionaires who are there helping page and brin code. i can drop names that i want. needed a cooper

i'm absolutely convinced that silicon valley will make plenty of money without them.hem. the future really is going to be dominated by artificial intelligence, machines that can, in a sense, think, or at least take actions which appear to be increasingly autonomous and based upon some sort of thought. how far does that go in your view, and how dangerous is it? well i have a perspective on this that might be a bit unusual but i think it's correct of course, since i hold it. when i was young my most important mentor was marvin minsky, who is the principal author of the narrative about ai that you describe. i used to argue with him about it when i was very a teenager and they say this is so ridiculous, it's just software we're writing, why do you have to make this whole thing about how it's coming alive? and he would say, oh, gosh don't nitpick, this will be great marketing when we're going forfunding, and it worked. and so it started off as storytelling to make money and that's essentially how it's continued. i want to emphasize that scientifically we don't know how a t

that's what silicone valley is. it gave way to the personal computer revolution and today the internet and smartphone apps. during these 40, 50 years of silicone valley, people have faked it until they make it. she followed that road map. >> so she didn't talk to you for this book, did she? she definitely didn't cooperate. but you do portray a really fascinating profile of this woman. i mean, just one of the sentences, she had the presence of someone much older than she was, the way she trained her big blue eyes on you without blinking made you feel that the center of the world. it was almost hypnotic. >> right. well, one thing i'll say is that i don't think she dropped out of stanford at 19 years old in 2003 with the notion that she was going to execute this long con and defraud investors and put patients in harm's way. that was not her motivation originally. her motivation was to create a great company and to walk in the footsteps of steve jobs and to become a very successful silicone valley entrepreneur. the prob

[laughter] that maybe the subtitle with the silicone valley startups. it was a circumstance i suspect because it happened in her own backyard. and it continues to happen. so we will not assume. >> so first of all a young woman into dropout on stanford university. in her sophomore year because she had a vision for a technology to create a very much wanted to fall in the footsteps of steve jobs whom she admired with those needles that would draw minute amount of blood and diagnose you and simultaneously inject you with the appropriate drug to cure you. >> she called the era patch and in her early pictures to investors there was a little diagram that showed the patch and actually it was more science fiction than reality and she and the cofounder realize that after a few months and gave into something that was more inspired by those glucose monitors that diabetes patient use except she wanted her portable device to do every blood test not from just a pinprick of life -- blood. from a laboratory test several hundred $7000. no one had been able to do that bef

the bay area council says tri- valley growth far exceeds silicon valley or san francisco or california overall. >> people talk about silicon valley, you talk about san francisco as kind of the core of the bay area. but those places have become more expensive and people are moving to the tri-valley. so lots of biotech and startups and businesses arere. we are talking about 50% of the cost in the tri-valley. >> reporter: thanks to the valley's two national laboratories, high-tech has been here for a long time, plus there are many new startups and its own budding venture capital scene. so the tri-valley has been and continues to be set up for high-tech success.

office space for example costs $32 a square foot in the tri- valley compared to $52 in silicon valley and a whopping $74 per square foot in san francisco. then comes the time -- talent. c -- >> although the home prices are high in the tri-valley with a median price of about 900,000 per home, they are still cheaper than the other take havens. as dublin mayor points out -- >> you get a new home -- a larger home. you get to live in a community that is -- that is very livable. >> they are hoping the job growth is a start. >> we want the next google, facebook and linkedin to be created and housed here in the tri-valley. >> with growth, growing pains. >> traffic, schools and affordability. >> will your kids be able to afford to live in dublin? >> i hope to keep it affordable for everyone's children. i think it will be hard for a lot of them. >> what did the locals say of their tri-valley becoming the new silicon valley? >> it is a small town feel just a lot more traffic. >> is more and more. >> that more ists way. one of the big issues here is whether bart should go further into the tri-val

a giant in silicon valley. that was the end of her term. looking at apple and some of these other technology companies. i asked her what concerns you or what worries you and out? >> the smartest engineers and the people in silicon valley are working on apps and things that make life comfortable, or they make this easy in the medical industry, they make it easy for a doctors appointment, those smart minds aren't working on tangible stock, not just tangible products or medical devices, they are sort of looking inward on things that are about making us comfortable or entertained, not necessarily things like you know, taking on something i'm really interested in or words or medical innovations. this was a interesting answer.>> well yeah. >> looking at the book, it's really awesome so i would highly recommend it. he says the problem is, you got this distortion because of the market forces at play, everyone is sucked into spending their creative energy into bits and not atoms. their ultimately inconsequential. what does uber actually do? making i

there is no one silicon valley. part of the reason is because i think your silicon valley has been much better of attracting the best talent from the world. you don't insist on american innovation being created by americans only. for far too long, in european countries, when they talk about european innovation, they assume it will be european innovated as well. most of the immigration policy tends to be inward looking between free movement -- with free movement between european countries, rather than attracting the best in the world. you go to silicon valley, you don't have a record doors. we are not good at attracting people from the rest of the world. >> 10 years from now, how is tech going to look differently in the eu? what innovations will we use on both sides of the atlantic? >> that continuation of the mobile device, the phone becoming more than a telephone. it is a game machine. it will be more of your home environment, more of a lifestyle accessory. heat up your car before you get in there. the technology i

for example, we found a semiconductor company that went bankrupt, not far from silicon valley and they had financial problems and went bankrupt and like in a lot of cases its assets were being sold off by a bankruptcy court in delaware. the bankruptcy court came a chinese-american who wanted to make a bid for those assets. it turned out if you peel back several layers the company that he was working for was owned by a chinese national, steel magnate in china. that was a case where is not that difficult if you did your research to figure out there's a connection here potentially but that was the case that never got raised a cfius at all because they never looked at bankruptcy court but that's another example of a new means by which a foreign player could come in and the bankruptcy judge is not aware does not do the research and there's no way they can know who owns a company who is the party behind it. that is the case in a lot of examples where the first look is not an easy way to figure out who really is behind us and where does the money come from. who are these investors and that re

>> where is the european silicon valley? >> it depends on area. in london, we have something called the silicon roundabout. there are a number of firms on fulton street in london. -- old street in london. some say we have a silicon glen in scotland. there is no one silicon valley. part of the reason is because i think your silicon valley has been much better of attracting the best talent from the world. you don't insist on american created bybeing americans only. when they talk about your puny innovation, latest -- european e it willn, they assum be a european as well. most of the immigration policy tends to be inward looking ithween free movement -- w free movement between european countries, rather than attracting the best in the world. we are not good at attracting people from the rest of the world. 10 years from now, how is tech going to look differently in the eu? what innovations will we use on both sides of the atlantic? of the continuation mobile device, the phone becoming more than a telephone. it is a game machine. it will be more of your

as they look at silicon valley, london is the leader in many areas of the world. and actually they want access to the best homes in the world. and one of the things i'm saying is hopefully after brexit is a policy where you don't give policy agreements but we can reach out to the best people in the world. the second issue is we can see data flow. we've seen on faith harbor. and clearly what companies are concerned about is they continue to flow between the eu and the u.k. now, in reality it shouldn't be that difficult because we thought with the same standards today. we actually have equivalents. there's going to be a lot of politics around it where they might find obstacles. actually you're not quite equivalent yet. but in reality it should be fairly straightforward. i think there is one concern that the eu has. but if we could clarify that, i think it should be in theory quite clear. >> let's talk about the privacy. the biggest issue this year in european tech is the european privacy regulations that just went into effect and there's a question about whether the

veso what you have is you intelligence officers who go to silicon valley or are based in silicon valley who speak to other people in venture capital firms for technology companies, you also have employees who are either motivated by money or types particular in the, particularly in the case of china are being coerced, crced at types to do this because china has be known to go to people with family in china and tell them, for instance, that if they don't provide certain technology or even just click on aia link in an e-mthat allows for access to a computer seasonal that somebody's family will potentially lose their home or subject to other kinds of, bc suto other kinds of oppressive measures. >> there anyway quantify the costs on this? what are intelligence agencies think, how significant of a threat is this? ea they are considered to be a very significant t in fact, fbi director christopher wray in recent remarks at the e pen security forum said that chinese espions the greatest security threat facing the united states in the medium and long-term, in terms quantification, i don't have e

. >> silicon valley and you get who did it.ll be taping a special episode in new york on wednesday, august 1. we would love to have you in the audience. for tickets you can e-mail us. i've got to tell you something important. it's not going to be easy. quicksilver earns you unlimited 1.5% cash back on every purchase, everywhere. actually, that's super easy. my bad. man: are unpredictable crohn's symptoms following you everywhere? it's time to take back control with stelara®. for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission with dosing every 8 weeks. woman: stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection or have flu-like symptoms or sores, have had cancer, or develop any new skin growths, or if a

. >> silicon valley and you get who did it.cial episode in new york on wednesday, august 1. we would love to have you in the audience. for tickets you can sleep disturbances keep 1 in 3 adults up at night. only remfresh uses ion-powered melatonin to deliver up to 7 hours of sleep support. number 1 sleep doctor recommended remfresh -- your nightly sleep companion. available in the natural sleep section at walmart. ♪ motorcycle revving ♪motorcycle revving ♪ motorcycle revving ♪ no matter who rides point, ♪ there are over 10,000 allstate agents riding sweep. ♪♪ and just like tyrone taylor, they know what it takes to help keep you protected. are you in good hands? >> welcome back.the heroic rescn boys and their coach -- getting into hot water. here's what happened. it's not what's been reported elsewhere. after the cave crisis has been going on, someone asked you on musk on twitter if he or the engineers might help. that led to a burst of work between the rescue team and elon mosque. which, to be fair musk behaved with complete pro

>>host: a lot of pushback in silicon valley to the strengthening legislation? >> yes i think there is a general recognition something to be done but that details are contested with the fear to go back to critical technology with the fear that it is you know it when you see it approach to regulation that traditionally industry does not love they fear every time they try to interact with a foreign company they will be scrutinized even with the potential of selling software overseas and fearful that would be scrutinized even though that is already under export controls so the warning that cfius could jump to thousands of reviews of they are already understaffed can we really get them to that point of the budget and resources? there have been changes with legislation and industry groups have said they are happy with those tweaks i imagine they will be broadly supportive but i do know there is serious concerns talking to one industry in particular representing companies like google or amazon or apple it was the top five priority to get that legislation changed but t

and it's not silicone valley. find out which area is booming when we come back. ♪ ♪ the best way to get together is with a treat you make together. ♪ ♪ add the activia 2 week probiotic challenge to your healthy routine and see how activia yogurt with its billions of live and active probiotics may help support your digestive health so you can take on your day. start the activia probiotic challenge today. 's free! >>> a 15-year-old boy remains in an orange county hospital after a boulder fell on him at laguna beach. his arm was nearly severed. the boy and a friend were walking whether or not he a cliff and he may have used some rocks as leverage and a boulder the size of a cooler rolled on top of him. it took emergency crews 40- minute toss free him. >>> the tri-valley may be the hottesne it covers danville, livermore, and san ramon. the report found that from 2006 to 2016, jobs jumped 35% compared to 31% in san francisco and only 19% in the silicon valley. researchers attribute the increase to lower housing and off

the silicon valley with a boom in business and population.al fire department is accused of falling behind on emergency planning. that story and more coming up on our 6:00 news. >> the oakland zoo long awaited california trail is now open. the $75 million expansion more than doubles the current size to 100 acres. cifornia species including grizzly bears. >> i'm excited to get to know my bears. i'm excited to get it know all of it. and be reminded that the mistakes have been made in the past with regard to conservation and we can correct those. >> the mayor enjoying the zoo as well. and the bears love the new water play area. the project took three years to complete. >> look at that. that looks cool. >> nice swimming pool. >> love it. >> beautiful. >> they got the right idea. talking about the possible thunderstorms. further a way from us now. >> off to the east. you can see it there over phoenix lake. we can see that move our way over the next 12 to 18 hours. we're tracking it. you'll see a really nice weekend coming our way. with sunshine and

from uber's chief legal officer on what it is like to have one of the most challenging jobs in silicon valley. "bloomberg technology" is live streaming on twitter. be sure to follow our breaking news network, tictoc, on twitter. this is bloomberg. ♪

congress. >>> we often hear about high- tech centers in silicon valley, seattle, charlotte or austin, texas. but tonight, ktvu's tom vacar is in the tri-valley in the east bay. tom, they are seeing a huge increase in high-tech jobs there. >>> reporter: it's amazing when you see the numbers and think about it. as high-tech really continues its booming revolution of the entire world, the bay area, right here, is bursting at the seams. the tri-valley communities of danville, dublin, livermore, pleasanton and san ramon constitute the bulk of what's being described as the juggernaut of the bay area technological innovation economy. tri-valley's ascendance as a tech center is underscored by its whopping 35% increase in jobs since 2006. the bay area council says tri- valley growth far exceeds silicon valley or san francisco or california overall. >> people talk about silicon valley, you talk about san francisco as kind of the core of the bay area. but those places have become more expensive and people are moving to the tri-valley. so lots of biotech and startups and businesses are headquarte

. >>> santa clara based intel is one of silicon valley's pioneering companies and it celebrated its 50th anniversary in the high-tech style would you expect. mary lee reports from santa clara with a behind-the-scenes look at how drones lit the valley sky on fire last night. >>> reporter: a spectacular sight in the sky. 500 unmanned preprogrammed drones put on a light show unlike any other. the drones flew 500 feet high and 500 feet across at intel's campus in santa clara all controlled by one pilot. the light show told the story of intel's past, present and future. we spoke to employees who were excited to see it for the first time. >> i'm going to feel like a kid in a candy store, to be honest. i love technology. and to see it fly over my head, it will be breathtaking. >> it's like nothing you have ever seen before. >> i get to see it all the time. but now i get to bring my parents and my daug have put thison at contact to this contact. >> just like that.

and the future of the silicon valley.w of what they're working on coming up. >>> welcome back to mornings on 2. students received letters of acceptance from the university of houston's new medical school and are getting a lot more than they thought. all 30 students are getting full scholarships. the school received an anonymous $3 million donation to cover the costs. >>> the technology of tomorrow is on display at mountain view as the city held the fourth annual technology showcase. it was a chance for the public to get a chance of what the silicon valley companies have been working on. there were some up and comers there. waymo brought a self-driving van. and nasa has gun gus they are using to make building materials for space. >> it's a good chance for us to engage with the community, and engage with city leaders and get to know our peers in the industry. >> i'm proud it'sen in mountain view because we're like the hub of technology and it's awesome to see all of this in my backyard. >> the city of mountain view has crea

. >> wears the european silicon valley? >> we had a number of different areas. and area. in london we have something called silicon roundabout where there are a number of firms in london. we have some people say we had a silicon blend for example in scotland. other parts of europe say they have a valley, there is no one silicon valley. part of the reason is because i think the more silicon valley done much better on immigration policy while attracting the best from around the world. you don't insist on american innovation being invented by americans only. for far too long in european countries, when the european innovation assumed that would be european innovators as well. the eu is starting to catch up and realize they have to have the best balance but so far most policy tends to be freedom of movement between eu countries, not necessarily looking to get the best people in the world . you have your college and all these people, you have your people from mine, we're not good. >> last question, dave shepard. >> i'll make one more prediction but this is 10 years from now, ho

but we've seen they're both incredible disrupters, and a perfect fit for the silicon valley. >> they want to sit down with female entrepreneurs, to encourage them in the industry. >> i would definitely imagine that sheryl sandberg, any female entrepreneurs. >> karina cabrera bell -- working moms of color with the support they need to take on leadership positions, especially in the tech industry. according to forbes magazine, women occupy roughly 11% of executive positions in the silicon valley. >> we need help more than ever. the reality is, is that technology is one of the most important sectors right now. and we need to have more women at the table. >> reporter: charlotte schultz is the chief of protocol of san francisco and the state of california. >> all the royal family have been here, prince charles, camilla and so forth. and so we are ready for royals to come here. and so we're very happy and we'll be ready. >> reporter: we'll be ready. now, markle will spend private time in california to visit family members. now, kate middleton and prince william visited califora back in 201

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yoci wyons silicon valley, it's not like there are no latinos in all of silicon valley, like 'where do we find them? they're there. ms. vilchis: right. in my own journey i have delyni the only one in the room it felt like i didn't belong there that maybe this wasn't an option for me. tet that opportunity tot n' tfehael there is a community out there. that is visible and isis company the central hub for everybody to kind ocome together and continue to build in this space. it's really important. ledad: you're a dreamer. ms. vilchis: yes. soledad: congress has not been able to figure out anything. how do you -- how are you feing? ms. vilchis: yeah --you can't really rely on governmt to a permanent solution.e idpri an this company is a wa eelreaiat of my citizenship status like ia can have act in my should the worst happen, that i am sent away.that's just an oppr me to build an intnationalpanyno really s, right?adcaab irot and to use every challenge that kind of comes our way as a e to andet createhing positive that's engean cen ito tisou.. vilve great luck with this app. ouit w vihihamsng

no problems on the silicon valley as we ised. we are looking at it for you. >>> good morning to you. we are looking at another cool to mild day and temperatures on the mild side. we are talking 60s at the coast. 08's inland. more of the same for your holiday as we get into your holiday. let's take a look. we will jump forward and then come back around to your numbers for today. here is a look at the future cast model tomorrow morning. we are waking up with partly to mostly cloudy skies, a little bit of drizzle with this model. as we get in to the second part of the day it'll pull back for the afternoon. it'll be partly cloudy, partly sunny and partly cloudy, mostly clear elsewhere. in to the evening hours those clouds bank up against the coastline. it could be very close. that call. we may have some of the fog. it's tested but we are tracking. 76 san rafael. 71 oakland. 84 concord. if you are going to see the fireworks show tonight it could be a good view. 65 san francisco. 81 for areas over san jose. it'll be a cool one. 60 expe

specifically, silicon valley, which has about 156 cities and are creating many silicon valleys. was just one of the stories that really hit the nexus between china and the trade war. i loved saudi aramco. everyone i talk to on wall street has been salivating over it for two years. not just the bankers, but the equity guys looking at that coming out. carol: now we are talking about it being a maybe a zombie ipo. jason: more bloomberg television starts right now. ♪ ♪ emily: i'm emily chang this is "best of bloomberg technology." coming up, beijing has called trump's decision to slap tariffs quote totally unacceptable. but they stopped short of spelling out what they will do in return. we discussed the fallout in the ongoing standoff. plus, a downbeat debut. xia

specifically, silicon valley. citiess about 156 creating many silicon valley's in china.s just one of the stories that -- between china and the trade war. i have to say, i love saudi aramco, this is the deal that everyone has been salivating over for two years. i just bank is but the private equity guys in all those others. carol: we're talking about a zombie ipo never happening. jason: more bloomberg television starts, right now. tom: and we say hello. "bloomberg surveillance" from our studios in new york. thrilled you're with us worldwide. it's a july of great interest into the summer of great interest. and we thought we would go a little bit deeper here in what's going on in international relations. there's no one better to do that with then ian bremmer, his eurasia group where he is president and founder. and we're thrilled to bring you robert kaplan from the center for a new american security and also senior adviser to the eurasia group. is this the first time you two have been on tv together? are you doing this weekly?

coming up, how silicon valley's reaking to a mult -- reacting to a multi-billion- dollar antitrust fine against google >>> kawhi leonard has been traded. mark has more in sports. >> and a horrifying scene on a street in berkeley when a group of young men attacks a 72-year-old man. what police are doing to try to find these suspects. >>> the european union has slapped google with a record fine in an antitrust case that accuses the mountain view company of abusing its power in the mobile phone market. ktvu's jesse gary reports on the 5.1 billion-dollar fine and what google may do next. >> reporter: for a company making billions of dollars annually, a penalty far from a slap on the wrist. wednesday, the european union hit tech giant google in its sizable corporate wallet levying a billion fine. >> google has engaged in illegal practices to cement its market position in internet search. eu commissioner says google has been abusive in the way it provides free access to operating systems. four out of five cell phones use the android software, but the catch? google's search and chrome apps are

so that's the first real modern silicon valley company and you know, his protege was steve jobs, andve jobs always talked about bicycles for the mind and now, we're not making bicycles for the mind anymore. >> yeah. >> and we gotta rediscover that or else we're going to lose everything and really, we may lose what makes the valley creative and really is that thing that powers it ultimately. >> we have to leave it there it's a great book. and thank you for joining us to talk about it. adam fisher, the author of ens.ley of giu >> halftime is after the break ♪ come on. come on, squirt. (dog barking) whatever your financial goals are, a u.s. bank wealth management advisor can help make them a reality. talk to one today. u.s. bank - the power of possible. if these packs have the same number of bladder leak pads, i bet you think bigger is better. actually, it's bulkier. always discreet quickly turns liquid to gel, for drier protection that's a lot less bulky. always discreet. >>> welcome to "the halftime report." i'm scott wapner our top trade this hour, bracing for the banks with key earn

let's remember silicon valley, 90% of the startups they are fail.what matters with that is is the failure that drives progress. think how poor we would be without that experimentation silicon valley. you are from the midwest midwest was richest when most of the businesses there were failing and that was the industrial revolution. 2000 plus carmakers form around where you grew up and most of them die if silicon valley at the time and with sound money you have more and more businesses forming, more and more investors willing to take risks and the result is you get some amazing companies through that and progress that frees more people. i'm a trojan fan. i really like the cleveland browns. host: you just want up four-day work week now. guest: i'm angling for that, but you won't have any choice simply because that is going to be the past to keeping good workers around. any good president of a company understands that you have to keep good workers around and make them feel valued and reward them in the future is going to be that to keep good workers in p

well, up next, a silicon valley venture capitalist says his whole investing philosophy is based on oneng, when "press:here" continues. ♪ announcer: "press:here" as a podcast on itunes. scott: welcome back to "press:here," if you have listened to a song on spotify, or booked a ride on lyft, or rented a room on airbnb, you've been using the same computer system all along. all of these companies depend on amazon to run the backend instead of relying on their own computer systems. amazon web services, aws, means any small developer can access the computing power of a company the size of netflix. netflix uses aws to send you movies. meanwhile, if you want to build something, you don't need a factory, companies like flextronics will build it for you, you just send them the design. microsoft uses flextronics to build its xbox. the idea here is we're at an inflection point. the little guy can rent his way to the top. hemant taneja is the guy who brought that to my attention, he's general partner at general catalyst, an early investor in stripe, and snapchat, only guy i know with five degrees f

(justine) and there's a new boom in silicon valley... and it's not about tech.he huge cannabis convention underway and the big money involved. at at&t, we believe in access. the opportunity for everyone to explore a digital world. connecting with the things that matter most. and because nothing keeps us more connected than the internet, we've created access from at&t. california households with at least one resident who receives snap or ssi benefits may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee. visit att.com/accessnow to learn more. (justine) it's green, at least in it's organic form, but there is a gold rush surrounding the legalization of cannabis. as kron 4's rob fladeboe reports, weed and it's various incarnations are suddenly big business. you are looking at one of the fastest growing, soon to be among the most lucrative industries in california and beyond. for the third consecutive day, thousands of people are here at the san jose mcenery convention center for the cannabis business summit an

because at some point, people leave the silicon valley -- specifically the silicon valley tech giantshe e.u. and , worry will they be slapped with fines, they feel copyright law is going to tackle the right -- the likes of facebook and google? how much is your regulatory environment a blessing or curse? matt: we think there is an opportunity here, too. the u.k., traditionally, has a good track record of writing regulation that both gives us a framework in which people can operate, but also is strongly pro-innovation. i would say the regulatory sandbox that the fca has developed for fintech is an example of yes, of course, , having regulations. financial products do need a level of regulation. but also allowing for innovation, having the presumption that something is ok, and if there's a problem, the regulator will have a conversation, as opposed the other way around that you have to have something approved before you can move anywhere. so, we have a very pro-innovation regulatory stance. we are constantly changing the law to try to update that. for example, in parliament today, there

specifically, silicon valley, which has about 156 cities and are creating many silicon -- mini siliconhat was just one of the stories that really hit the nexus between china and the trade war. i have to say i loved saudi , aramco. a deal everyone i talk to on wall street has been salivating over it for two years. not just the bankers, but the private equity guys looking at the proceeds coming out. jason: more bloomberg television starts right now. ♪ . . david: let's talk about how you became a very famous soprano. >> keep saying that. thank you. ♪ david: you are performing in "carousel," which is a broadway play. >> i just thought wow, it would be really exciting to do something new. ♪ david: famous sopranos are sometimes labeled as divas or prima donnas. renee: i just couldn't do it, i've never been good at it. >> ♪ you'll never know just how much i miss you ♪