jason: a lot of it falls on the ceo, evan spiegel.ng is looking inward to change the culture of the company. max: the writer of the story got a special invitation to something called counsel, which is a sort of regular meeting. they have had -- i think somewhere around 700 of these this year, so we are talking everyday kind of meeting where a group of snap employees get together and share. it is a very -- snap is a los angeles based company, a very california thing. there is a sharing stone they pass around. i think it is a purple amethyst. this is something snap's ceo evan spiegel learned in a new age class and has brought to the company. the reason this matters at all, besides being amusing and sort of weird, is snap is really trying desperately to grow up and get better at communication. evan spiegel has been very secretive, sort of aloof from his own employees and the outside world, and with competition from facebook and instagram, which is a facebook property, they are having to change. jason: comically secretive, almost. why? do

my must read was evan spiegel, the ceo of snap.taking it inside the company -- company and everything that needs to happen culturally to improve the company's performance. taylor: more bloomberg television starts right now. ♪ emily: i'm emily chang and this is "best of bloomberg technology ," where we bring you our top interviews from this week in tech. sixosoft takes over websites created by a group with ties to the russian government and plans to meddle in the midterm elections. plus, more manipulation on social media. facebook and twitter take down hundreds of accounts linked to russia and iran. as elon musk faces scrutiny from the sec, investors, and the public,

their creation of the taj spiegel he tours the patisseries of paris in search of inspiration. a dream job for a man with a sweet tooth. every two minutes you have a place you have so much places to see you have so much places to get inspired by and it changes all the time and it's really like this is why i said it's like living there because it's really a part of your daily life here originally from israel town used to be a graphic designer but retrained as a pastry chef when he first came to paris a couple of years ago he was fascinated by the colors textures and geometric patterns of a designer today he's looking for a pink pastry. and this muck around is filled with rose petal cream leaching and fresh raspberries was fish. towel usually takes these photos right outside shops he tries to get into neutral background so the entire focus is on the pastry and the shoes. then upload the photo to his instagram account deserted in paris i think the idea for dessert paris started by accident when i was exploring the world of parties when paris and i really wanted to remember each. t

speaking of ceos, my must read was evan spiegel, the ceo of snap.king us inside the company and everything that needs to happen culturally to improve the company's performance. taylor: more bloomberg television starts right now. ♪ announcer: the following is a paid program. the opinions and views expressed do not reflect the views of bloomberg lp, its affiliates or its employees. >> the following program is sponsored by operation smile. every year hundreds of thousands of children are born with cleft lip and/or cleft palette. >> why should any child anywhere on this planet live a life of misery? >> a lot of people think that

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speaking of ceos, my must read was evan spiegel, the ceo of snap.side the company and everything that needs to happen culturally to improve the company's performance. taylor: more bloomberg television starts right now. ♪ ow ♪ nejra: funding secured, two words that could spell trouble for elon musk. turkish turmoil, concerned growth over -- taxing cryptos, are they a property or are they a commodity? hedge funds want clarity. i am nejra cehic in london. we delve into the regulatory opportunities of financial markets around the world, but

as you take a look at evan spiegel, are there parallels?'s company has grown up very fast and very quickly. is he overwhelmed? me he -- sarah: evan told feels like every year he has to become a different person, that this is something he has never done before. he never wanted to have a job where he is speaking to large groups of people all the time and has to be accountable for that. -- hes something that loves the fact that somebody people are using snap but he hates the idea that snap is just getting compared to facebook and that it keeps getting pulled short of what it should be, so i think there is some frustration there and there are some parallels to musk. here they are inventing these news -- these new way of -- new ways of indicating that people are loving, but they are not resonating for some reason. why don't people understand the potential here? david: that was sarah frier of bloomberg technology. she had an exclusive interview with evan spiegel which by the way is a rare thing because he does not talk to the press. julie: she sa

other countries that have emerged from rescue programs in an interview with the german weekly desh spiegel asserted the eurozone crisis is over as greece prepares for the official end of its bailout program on monday but people in greece have seen little benefit in fact many are much worse off than ever before one in five are still unemployed and a slight economic growth is little comfort for those who saw their pensions shrink to a minimum. fens in august while there's been much talk of an economic recovery there's not much of it to be seen on the streets when you make this crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us. to kick up us again the situation hasn't improved and it won't change anytime soon. i'll call mine it was hard but i were struggling to live on this family business has been here for forty years giving up is not an option for andy and that is june here he changed his business successfully join the crisis from selling luxury do face to cut to size form robert like many business people he feels burdened by taxes and demands a long

pollan has this writing it i can imagine a better conversation, so i will shut up and welcome alix spiegel and michael pollan to the stage. [applause] >> hello, everybody. i am so, so pleased to be here because 20 years ago you actually changed my self-concept because i read your book, the botany of desire in the human who is striving and struggling in the world and then after i read that i thought i'm just like a tool of the potato. like that is what i'm doing and it just blew my mind. if you haven't read it, you totally should. so you decided to write a book about drugs. so why would that you just start. >> first, it's great to be doing this with you. i am a tremendous fan of your work. am so pleased you agreed to do this. we take these things into our body like food and mushrooms can serve in both capacity. so there is some precedent that way. >> why don't you start by explaining the class of drugs. >> psychedelics. i've been interested in other kinds of drugs. my food work is kind of what most people know, but going back to botany of desire there is a long chat are in there about canna

should have been deported to bulk area within six months but the deadline expired the magazine der spiegel claims the man twice presented forged papers the authorities supposedly rejected his application for asylum on wednesday three days after the fatal step in kennett's. of course we want to find out what happened if mistakes were made we want to ensure they're not repeated in the future. more demonstrations are scheduled in cabinets over the weekend but by the far right alternative for germany party as well as by church groups. just times are a reminder of our top story at this united states is spending its final farewell to the queen of soul aretha franklin. from the world of music civil rights among station respects a funeral in detroit where u.s. presidents of bill clinton also addressed the crash site of the shuttle. as. i sit up today at the top of the hour i would. stay in school. doors grand the moment arrives. join her journey back to freedom. in our interactive documentary. an orangutan returns home. to tang's.

should have been deported to bulgaria within six months but the deadline expired the magazine der spiegel claims the man twice presented forged papers the authorities supposedly rejected his application for asylum on wednesday three days after the fatal stabbing in kenneth's. of course we want to find out what happened if mistakes were made we want to ensure they're not repeated in the future. more demonstrations are scheduled in kevin it's over the weekend but by the far right alternative for germany party as well as by church groups. well the days of changing the clocks backwards and forwards here in europe could be numbered that's because the european commission is today proposing an end to the switch between summer and winter time across the european union the decision comes after an online poll found that a majority of those responding want to get rid of the outward change to winter time with more than four and a half million participants it was the largest online survey in e.u. history most of those who opted to take part in the poll were german but even here opinion is divided as w

rolled back snap chat based on the feedback of the community. >> michael packard telling us that spiegel'sat daily users could be down in the third quarter saying the company was consistently evasive when the reasons why the user numbers to continued to climb. the stock grants were disclosed today that represent 200 million additional shares and they would have to adjust their valuation to account for them. the expanded share count now 1.48 billion instead of 1.27 billion saying that might be beispooking some. >> julia boorstin in los angeles. >> would you trade this? >> facebook? >> instagram this company was going around and they were prepping the street for this. they were getting numbers lower in the past month, month and a half i think they tried to get it down and be on the red side and they pre-announced and i would stay away. >> whatever stock is 100% and the stocks moved 22% to the down side and moved 50% to the upside and its had ridiculous moves and it's really not moving right now. what does that mean? if the stock goes green tomorrow i don't think you're getting away from it g

in dallas, casey spiegel, fox news. >>> coming up, a sight to behold. thousands of hungry bees swarm a hot dog stand in the middle of times square. how first responders were able to fix the problem. >>> and, respect for a legend. the tributes today for the queen of soul, aretha franklin, as her body lies in state in detroit. >> you feel like she is there. you feel like she is over there. that's what it's all about. ♪ ♪ ♪ ♪ they're the moderne stone age family. ♪ ♪ from the town of bedrock. ♪ meet george jetson. ♪ ♪ his boy elroy. with instant acceleration, electric cars are more fun to drive and more affordable than ever. electric cars are here. plug into the present. >>> check out this video. thousands of bees had their stingers set for some juicy new york city hotdogs. the bees swarm the top of a hot dog stand umbrella this morning. the site created a buzz among tourists who snapped videos and video. police officers offer protective gear, including netting as a protective officer stood over a ladder and sucked up the beast through a vacuum. no one was

now to an instagram star who is gonna get a huge number of followers documenting food and footwear spiegel is a graphic designer and pastry enthusiastic living in france on his instagram page he up for the combines his two favorite things the most creative pastries in paris with fantastic footwear he has a keen eye for colors and textures and has even published a book full of his photos of food and foot web let's find out how and why the two things first appeared in one frame. colorful and a little crazy pastries in every shade imaginable with shoes to match the photos highlight the rich variety of the paris patisseries and the fashion world. their creation of the beagle he tours the patisseries of paris in search of inspiration. a dream job for a man with a sweet tooth. every two minutes you have you have so much places you have so much places to get inspired by and it changes all the time and it's really this is why i said it's like living there because it's really a part of your daily life here originally from israel town used to be a graphic designer but retrained as a pastry chef when

at the eastern end of spiegel is a bit built a national park cost and high tech a shows visitors the beauty of the all splatter will be hard to speaker boehner is part of the lower saxony watching c and when you speak of the girls are convinced that it's the prettiest part but the whole coastline here is there watch and see national park or the basic idea is to let nature be nature to let the natural processes unfold with as little interference as possible. and that's been especially successful here on the last platter. when you need some people come here to be seen others go out to sea they just have to set sail once out of all top class in tests his students knowledge of the rope in one hand the tiller in the other people robes ropes are for mountain climbing in the pony stables but for sailing we've got lines earrings azer is when there is thick as there. arm but in general the most torn up of this is a sheet a main sheet you have to gather up the main sheet so tight that the sale won't spill over or spill means flaps you see it's flapping all over so halid up tighter pull your ri

should have been deported to bulgaria within six months but the deadline expired the magazine der spiegel claims the man twice presented forged papers the authorities supposedly rejected his application for asylum on wednesday three days after the fatal stabbing in kenneth's. of course we want to find out what happened if mistakes were made we want to ensure they're not repeated in the future. more demonstrations are scheduled in cabinets over the weekend but by the far right alternative for germany party as well as by church groups. and days of a change the clocks backwards and forwards in the spring and autumn here in europe could be numbered the european commission is today proposing an end to switch between summer and winter time the decision comes after an online poll found that a majority of respondents want to get rid of the hour switch to winter time. the online survey was the largest in the e.u.'s history four point six million europeans took part by far the most of those were german total eighty percent said they were in favor of getting rid of the hour difference between winter

should have been deported to bulgaria within six months but the deadline expired the magazine der spiegel claims the man twice presented forged papers the authorities supposedly rejected his application for asylum on wednesday three days after the fatal stabbing in kenya it's. because we want to find out what happened if mistakes were made we want to ensure they're not repeated in the future. more demonstrations are scheduled in kevin it's over the weekend but by the far right alternative for germany party as well as by church groups germany's chancellor wants the country to do more business with african nations economic cooperation has been a key focus of our going back three day trip to san diego ghana and today nigeria has also hopes economic development will migration from the region she made a point of highlighting the dangers that face people when they attempt the journey to europe. i'm going to merkel arriving in the cheeriest. the last stop on her brief tour of west africa using hopeful rhetoric to focus on illegal migration to europe the president heard the president indicated th

other countries that have emerged from rescue programs in an interview with the german weekly dash spiegel weakling asserted the eurozone crisis is over as greece prepares for the official end of its bailout program on monday but people in greece have seen little benefit in fact many are much worse off than ever before one in five are still unemployed and a slight economic growth is little comfort for those who saw their pensions shrink to a minimum. fens in august while there's been much talk of an economic recovery there's not much of it to be seen on the streets then you make us crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us to kick up dust and the situation hasn't improved and it won't change any time soon. i'll call mine it was hard but i were struggling to live on this family business has been here for forty years giving up is not an option for n.p.r. not his job here he changed his business successfully joined the crisis from selling luxury do place to cut to size form robert like many business people he feels burdened by taxes and demands

evan spiegel believes in this kind of employee sharing. a high-end prep school in santa monica growing up, where this is what they did. he has brought that really to his company. he says he personally is a very shy. he does not like speaking to large groups. this is one of the messages he likes to use. he has made a very important part of the structure out of the company. scarlet: sarah frier bloomberg reporter in san francisco, fantastic story. be sure to check it out. don't forget to check out tv on the bloomberg. you can catch up on all the and if he is we have from earlier today. this is one, our conversation with henry fernandez, chairman and ceo. conversation following our reporting that saudi aramco is said to but it's focus on the acquisition of sabic and putting its ipo on hold. this is bloomberg. ♪ g. ♪ ♪ lisa: this is "bloomberg markets." time for thes bloomberg business flash. a snapshot of the biggest business stories in the news today. banks are getting worried about the subtext -- subprime market. credit card issue is c

evan spiegel has been talking with his mentors on the board, a coach who has coached other managers throughgh times, and he says he is committed to trying to make that point clear to the public. so far, it hasn't quite worked. emily: i guess i wonder with snap users hitting a plateau, similar to what we have seen at twitter, is can they re-accelerate growth? sarah: the same thing we solved quicker, right? twitter -- with twitter, right? people thought it would be the next facebook and now they are would it be.o.k. more of a niche product. snap is trying to prove there is a hunger for the type of communication that is not permanent. of course, facebook has capitalized on that popularity and build snap functionality into its own product, which makes people even less likely to download the snap app. if they think they are getting the same thing from an instagram. the ads on snap. it is one of those problems where they have to put them in the media portion of the cap, -- are communicating with friends. they have to make sure the users want to see stories from publishers. it is going to be a com

she did. ( laughter ) angela loves to get spanked with a rolled-up der spiegel. ( laughter ) she is-- one sick fraulein." trump claims germany is controlled by russia because 35% of their natural gas comes from russia. it's true, we're all controlled by the people who give us our gas which is why i'm forever beholden to the chevron on route three. when they invaded the pizza hut next door, i said nothing. what could i do? ( laughter ) we should have seen all of this coming, because right before he left on the trip, trump talked about his three stops. guess which one he was most excited about. >> so i have nato, i have the u.k., which is in somewhat turmoil and have i putin. frankly, putin may be the easiest of them all. who would think? who would think? >> stephen: i would think. ( laughter ) everyone would think. >> jon: that's right. >> stephen: i'm not ready to say that our president is a russian agent, but i have an agent and he doesn't do as much for me as trump does for russia. ( laughter ) i love you, baby doll, i love you baby doll. ( piano riff ) ( applause ) i love you, baby

s closest allies you have to think of the long-term consequences here as well >> peter spiegel, thank >>> results from the arizona and florida primaries are in and they are setting up a fierce fall showdown. tracie potts joins us now with more >> a couple of races that stuck out overnight. we have results for farizona th republican senate primary, this was the race to replace jeff flake, the junior senator from arizona who is retiring. in a three-way race, martha mcsally came out on top. representative mcsally a former fighter pilot. president trump tweeting congratulations to her interesting race after some long lines and polling problems in arizona. she now goes against a democrat who won 81% of the vote. questions about how it will work with her trending more conservative going against a democrat who is strong in that race to florida, a very interesting governor's race with a surprise on the democratic side the democrat running in florida will be andrew gillum, with 34% of the vote. he's the tallahassee may wloer was a bit of a surprise win here he was backed by bernie sanders. the

he was on the administrative side of spiegel ground. another cofounder was air when mccallie us was a fellow postdoctoral student of homberger and he was also the head of the adult euthanasia facility where thousands of adults were killed. everyone in vienna knew who he was. he was widely called the mass murder, the bbc reported on the activities of the royal british air force even got leaflets calling him the lord with the syringe. engaged to her sister, paula and you can see the resemblance. hitler greatly disapproved of the match. we don't know why. perhaps he didn't want her sister mary and a mass murderer, [laughter] that the people speculate. he had apprehended during a trip to berlin in 1840 and dispatched to the eastern seafront which is an effective way to get rid of an undesirable brother-in-law. so not only to asperger associate with the top leaders, he advocated the transfer of the most disabled children. this is a talk he gave been vienna published in the munich weekly. fraught difficult cases, only a long and continuous ob

evan spiegel attributing that to the redesign of the app.ompany did, however, post a smaller second quarter loss and the revenue beat bret is from jeffreys and aaron is here as well. aaron, what is happening with the big picture here with facebook, we saw the core app, disappointing user growth, twitter, there's user concerns there, now in snap, we see this issue, is social media peaking from a user perspective perhaps? i know we have instagram and others, but what is going on >> yeah, i think it is market by market clearly in the more developed markets, north america, you have seen more maturity in the court facebook site and twitter to some extent and clearly in snap. we think snap is taking users spent with sites like instagram really taking off. but instagram is growing really quickly. yeah, if you look at the north american market, you have more maturity evident in the stocks performance we have seen recently across the board. >> so bret, what is going to happen to the businesses behind these? one way of looking at it is the revenue is

should have been deported to bug area within six months but the deadline expired the magazine desh spiegel claims the man twice presented forged papers the authorities supposedly rejected his application for asylum on wednesday three days after the fatal step in kenneth's. course we want to find out what happened if mistakes were made we want to ensure they're not repeated in the future. and. more demonstrations are scheduled in kevin it's over the weekend both by the far right alternative for germany party as well as by church groups. so a lot of the focus has been on kemet but what's the bigger picture here more on that i'm joined by our parliamentary studio from our parliamentary studio excuse me by our chief political editor mckayla co-chair and mikhail i mean we just heard the family minister stay right there that the far right protests that we've seen in cabinets are not just a regional issue but something that affects the whole of germany right. well certainly this division over how entitled some migrants are to be here and how much this really feeds into a potential new rise on the

spiegel has taken back in terms of some of his demands, an apprentice stepped in. rabber and it boosted stock >> you think snap could ever be a takeover target? >> or going private. there certainly have been discussion before about it i think spiegel wants to keep it under his own control for as long as possible i'm sure even he has a price >> okay. thank you. >> thank you >> appreciate it little less controversial. >>> making headlines this morning, mortgage applications hit their lowest level in two and a half years last week applications fell 3% last week with both new purchase applications and refinancing activity falling the average 30-year mortgage rate was 4.84% that was unchanged from a week earlier. amazon has launched a curbside pickup program at its whole foods grocery stores the program is being launched in just two cities. but will be expanded to other cities later this year no, your iphone is not eavesdropping on you that's what apple is telling lawmakers in response to a congressional request about the collection of audio data apple says iphones do n

of evan a press release spiegel snapchat in with a falcon. revenue.s beating on what does that say about the numbers? i don't think they have to worry quite yet. the second story is huge, tesla. elon musk stirred up the markets. air when we heard that the sovereign wealth fund of saudi arabia had taken a stake in the company. 30 minutes later, elon musk tweeted that he was going to take the company private. they suspended trading a while. tweet, but the detailed memo random said the reason for doing this is all about creating the environment for tesla to operate best. as a public company, we are subject to wild swings that can be a major distraction for everyone working at tesla, all of whom are shareholders. this is not unique to tesla. other ceos say this. is this a realistic possibility? >> elon musk was talking about getting way from the pressure of the market. the question is how is he going to do this. where is this funding coming from? he has the saudis sovereign wealth fund. we were talking about this earlier today. everyone was react

and some interesting commentary from evan spiegel in his prepared remarks which are already published explaining the 2% decline in daily active users is what he calls the disruption cause by our redesign. so attributing that drop to the redesign and in terms of the increase in revenue what's driving that, they said it was increase of global international sales in terms of digital sales from small mid-sized businesses and the fact they now have automized systems in place >> very busy 20 minutes or so for you julia. thank you very much for that charlie, even if revenues at snap are growing at 4.5%, the fact revenues are down how concerning is that >> this doesn't pass the rip van winkle twes, which is if you go to sleep-in five years could you be confident if you woke up in five years would this business be around? there's nothing to say this business will be around. >> because facebook will eat all of its bite. >> right, there's nothing to stop a new service from coming in that's exactly right facebook can offer a competing product. lots of these people like my space has gone away. so

the cash dividends will go straight to evan spiegel's pockets.paid him $750 million when they took the company public. he got paid out a couple hundred million last year. shareholders have no voting rights. it's in two people's hands. so you have no decisions. their international competition is unbelievable. they can't expand overseas. they're losing -- this management has lost users. that's the one thing they promised to shareholders is growth. don't focus on our financials. now they pivot, focus on our financials. maria: he's not a fan. >> the only saving grace is hoping the company gets bought out. you have two shareholders that have that decision and that's the founders. dagen: where did they go public, price-wise? >> it was around $17 a share. >> they're down 46% since ipo day. dagen: we were negative, you and me negative on snapchat before it went public. again, impossible to use. instagram does what they do, if not better. you can't design a social media platform even with photos that only targets people who make no money and don't have jo