. >> who is steve wozniak? >> he was steve jobs partner, you know, and the founder of apple. once again it shows how partnerships in teamwork can work. because steve wozniak creates the circuit board will becomes the apple one and the apple ii. he's a genius at knowing how to create circuit, with very few components in order to turn it in to a hobbyist computer, but i've a computer you can use at home. he loves giving it away. is part of the old ethos. he takes the sheet about works out and gives it away to all the members of the homebrew computer club so they can build one. what happens is his friend just down the street, steve jobs, said no, we should build these and we should sell them. so they create a little company which they call apple. so what it takes to innovate is not just the person who has the idea which is wozniak but it takes the person this is how we going to execute, how are we going to turn this into a commercial machine, which is what steve jobs did. how we put a beautiful face around the? how can we get a power supply? how are we going to gather it all tog

and it seems like there are the equivalent of steve wozniaks who want to use drones.nd so they decided to empower themselves and do it, and lo and behold, you know, 30 years later, or 40 years later, there's an entire industry based on this. so, it's entirely possible. it may be difficult for someone to grasp what exactly everyone's going to be doing with the drone, but, back then it was difficult for everyone to figure out what they would do with a personal computer. >> it is really fascinating. as a small business person, entrepreneur, it's just kind of the wild west out there, right, brad? let's step back for a little bit from the ooh how neat it is and talk about the business issues. a couple things that chris anderson really struck me. one of them was that, hey, we are the worst people to figure out the commercial applications. >> well, i mean, i think just like with personal computers, people were worried about hacking and all these other things. but you had all of these commercial applications come out of it. and he mentioned spreadsheets and some other things.

. >> who is steve wozniak? >> he was the partner of steve jobs and the founding of apple. once again it shows us team work. because he created the circuit board for the apple on an apple ii. he's a genius of knowing how to create circuits with very cute view components in order to turn it in to a hobby computer, the type that we could use at home. he loved talking about how it works out and what happens steve jobs says no, we should build this and we should sell it. so they create a company that they called apple. so what it takes to innovate is not just that the person has the idea, but also says how are we going to execute this and how are we going to turn this into a commercial machine, which is what steve jobs did. so are we going to get a power supply and how are we going to gather all together? so whether it's the people with the microchip or otherwise, they usually have a visionary engineering time and also a business type and that all together and creates things like apple and intel. >> putting the innovators together, crowd sourcing a little bit. >> the internet w

. >> steve wozniak thinks xiaomi products are good enough for the u.s., when he visited in january, saidt they were good enough to break the american market. one of the interesting points that you spoke with you go about in your article, brad, was about the even cheaper bargain basement price phone, like a $50 phone. tell me more. >> a lot of companies are pursuing that. crid made a good point, they need to evolve their soft or and get their margins there. we have not seen a lot of that from xiaomi. they had a social network which tencent eventually swamped. if they can make money on services, they can drive the phone. now they know they do not need to make more money on a handset. >> brad stone, cory johnson, crid yu in china. we are continuing our discussion. how can xiaomi price their phones so cheaply? we look at their unusual business strategy and why it is critical to their success. ♪ >> welcome back to a special edition of "bloomberg west: xiaomi rising." i'm emily chang. we are looking at the launch of xiaomi, launched four years ago and already one of the dominant smartphone mak

whether it's the people inventing the transistor, the microchip, the personal computer like steve jobs and wozniak usually have sort of a visionary engineering type but also a hard-nosed business type, and that team pulled together a great things like apple or intel. >> walter isaacson, inputting the innovators together, you crowdsourced this book a little bit. >> the internet was invented in order to allow people to collaborate on the research. that was the original done by the defense department and the internet which is if you want people in different resource centers far away to help you save your work, we will have this internet. so we can share things. so i thought one night, well, why don't i see if it still works that way? so i took some of chapters in my book, early drafts of them, very early drafts and put them online for everybody to read. comment, tell me. oddly enough some of the people, i got 18,000 comments in the first week for one chapter. and a lot of it led to some good stuff, like stewart brand, one of the great, wonderful, colorful characters in this book. stuart graham was a

>> actually we did, we met, we presented the show at south by southwest and steve wozniak actually presenteds at the time. i mean, the show is really, really fascinating. it's about that incredible turning point in our history when you know we relied on computers to manage our lives. you know, and i bet everyone here has got a, a smartphone in your pocket right now. this is, these are the guys who are putting those dots together. >> seth: and it's not that long ago which is the crazy thing. >> no, it's like recent, recent history. >> seth: uhm, we talked about comic-con, we talked about the fans who were there promoting the "hobbit." were you a fan of the "hobbit" before you got cast in it? >> yeah, i was. it's such a great -- [ light laughter ] what? what? yeah of course i'm going to say yeah. [ light laughter ] >> seth: didn't care for "the hobbit." overrated, yeah. >> i actually know where bilbo baggins is buried. >> seth: how, that can't be possible. how do you know? >> no, i do, i do. i do. he's buried in chickoshay, oklahoma. >> seth: really? i would not have thought that. how did you

take a look at this video from apple cofounder steve wozniak.ca's operating system. right now, because money has completely taken over our political system, americans off rating system -- america's operating system is severely broken. but they're hoping to handpick these candidates who are willing to change the big-money system dominated right now by a few rich donors. and true to tech, they are trying it i crowd funding. the next big goal is to raise $5 million by this fourth of july weekend. that is then going to be matched by big-money donors. but doesn't it seem odd that they are trying to fight against money by basically rating big-money? -- raising big-money? >> it does seem odd, but also very tech. they say they embrace the and -- the irony in all this. fred wilson, paypal cofounder and activist, peter teal, .inkedin cofounder reid hoffman they want to get to $12 million by the elections and funnel that money to five candidates. if you are wondering politically where they stand, they will be voting for public and -- republicans and democr