the tech boom also has san francisco real estate prices climbing. could surpass those of new york city. of all of the space coming on market at the same time some analysts are growing more cautious. >> i think there is concern only because one market in the united states where there is a significant amount of new office construction happening. cory: many like kilroy are unfazed. >> the technology is in every business now. you talk about tech, it is a much broader category of companies than it has ever been. cory: they are not just looking for a florida building. they are creating campuses campuses under construction overpasses headquarter will be 200 billion campuses over 1000 square feet of space yet to be built. up next, a big victory. she will tell her side of the story for a short time. modify and federal agents busted in an amazing bitcoin incredible story coming up next. ♪ cory: you are watching bloomberg west. i am cory johnson. let's check the top headlines. turkey, and extensive out -- the biggest in three years. stretching to the border of

mike: mark did a great service in the tech service. this law is different from the laws in many other states. not to say those laws don't have problems. this one was especially egregious. by giving the tech community which has a lot of influence among businesses in indiana, he gave us the chance to affect the course of this law. and to lead to its revision or appeal. cory: tim cook, the biggest company in the world talking about all of the other states that have similar laws. have you thought what this means for the other states? will you have to decide whether those laws are acceptable? mike: it is a good question but it is not just a cloudera question. one of the services that mark and tim and the tech community provided was to focus attention on all of those other laws. there are some substantial differences. we have not read all of the statutes in detail. there is a national conversation underway about what is permissible, what is written into legislation, and what that ought to mean for businesses like ours. i look forward to conti

hammering that idea home that the government should be staying out of our information and it is the tech companies that need to be the shield for their users. if users are going to trust somebody with their data, with their information, it is on the tech companies to maintain that data for the users. cory: in terms of the connected home -- we have been hearing about the connected home for, i don't know, the last 20 years that es. -- at ces. alex: they were talking about some of the challenges. some of the onus now falls on the home depots of the world and

bottom of one recession to the next, we nevertheless, say rapid growth this is, of course, before the tech growth we've seen this decade and seen rapid growth in the experience sector 9 financial and professional services sector was flat we lost the local serving industry todd made an important point they depend on on the export industries and in the sentenced we have a recession to say often buzzed the export stridz industries take the rest of the economy when we come out of a recession it pulls us up but not all the economic will grow at the same rate from 2004 to 2010 a couple of industries it naturally grow and other industries don't what do i mean is they columnist with a set of industries that relies on highly skilled landmark those businesses succeed because of the critical mass because the talent the talent comes because of the jobs and clustering in which for whatever reason the bay area economy in san francisco is the most successful and competitive cluster in the world so that's a set of activities as long as theirs growth b will want to grow in our region secondly, the extremel

the mayor ed lee has impressed on the importance of job creation like the opening up pathways in the tech mayor ed lee (clapping) john thank you for that introduction and i'm glad to be here and this is great to see this is the third cohort of our folks coming through tech sf he want to go through the boat came but jonas passionate as i am i've not had to work that hard as you sit here now deck and it is a lot of passion for the building of strong neighborhoods thank you to the leadership give my best to the entire staff there because as strons as passionate in the job training for the 21st century jobs we need partners that are more experienced as you that kind of citizens of volunteerism is takes the hours and weekends and the attitude to folks that are in the community looking to see if they can gain skill sets with the new jobs and what they're doing in the clooks with tech sf starbucks a good training for people to see i have the confidence i don't have to be at the best engineering schools to get a job and we've often said the tonnage industry establishments 4 or 5 jobs in their app

what the tech giant is expected to reveal today. >>> a quick check outside, the golden gate bridge on march 9th. you're watching "today in the impale." bay. >>> a good morning morning, i'm sam brock. >> and i'm laura garcia-cannon. >> good morning, everyone. hopefully you're getting by after the time change. temperatures this morning are really mild out there. we're at 54 degrees right here in san jose, 52 in san martin, on our way to a gorgeous day, and then things change. we're talking about rain very, very soon. we'll talk about that in moments. say happy monday morning to mike inouye. >> we see traffic flowing southbound from us, we see the southbound traffic very light, very easy, south past university, a little farther toward santa clara. great america parkway there was an overnight crash. that's really the only thing to of note. there may be a little activity. i saw some slowing up to a couple moments ago, but that's all cleared up. around the rest of the bay, there are the speeds approaches the bay bridge, all moving at speed. back to you. >>> new this morning, 49 are general

it's that shift in the way and tech is much less of a wait. >> i think that the bio tech story and whenou look at it. i was on the trading floor and almost every profile was the same. well, now you have the names and you look at all of these big cap names and all of them have drugs that are on the market and they trade with reasonable pe's and some under 20 and then the balance sheets. these guys look like big farm used to look. these pipelines are strong. not only are you getting the drugs, but the future drugs. that's why i think that they have room to go. >> yeah -- what would you buy if anything. >> to microsoft and intel we saw changes and the stockser performed really well. i would put cisco in a category that's performed on a long term basis. if chambers seems to have it back on in the last quarter and shedding ones that are not been doing well, we know that they have a great balance sheet, and that's one that i think that you can see a quick move higher. if this 5,000 is just a blimp and we're going for the next few months, cisco is going to take. >> yeah, more than 200 price ea

>> as i say, the role of tech is getting global. was hard to reach to consumer. it could carry application. you have the app store on your device. so you build one up and you have access to billions of users globally. so the value you can create with that in a short period of time is much higher than what you can do in the past. we have really seen a shift and as i said they he have been able to do it for a short period of time. they're deserving evaluation. uber, spotify. >> you don't think that's overvalued at $40 billion. >> only the future will tell. what people are seeing here is huge potential for this category. the impact of this is that now many start ups thinks that they can create that amount of value in such a short period of time and what this creates is inflation even in the early stage where there's uncertainty about the future of the company. in had respect we're seeing the inflation on the private valuation side. >> and when you look at europe which of course is dealing with sluggish growth deflation, that doesn't see

emily: so you think there is no such thing as the tech industry or in the future the tech industry won'tso defined? aaron: i think it's going to be less defined, is the idea. you might have silicon valley. but, you're going -- that should be seen as the sort of software layer of every other industry. emily: your tweets are widely followed. semi-funny. aaron: thank you. semi-funny. yes. emily: thanks for the good material. in response to concerns that you would reign in your tweets after you filed to go public, you tweeted a photo of a missouri law firm. and gave a shout-out to your new twitter followers. aaron: actually, i'm not sure how the missouri law firm felt about that. emily: hopefully you won't get sued over it. aaron: they didn't sue us, so. they probably shouldn't. i'm sure we sent them some traffic for new customers. [laughter] emily: but tweeting as much as you do, why do you do it? aaron: well, maybe one myth that i actually can dispel is that i generally tweet only once or twice a day. emily: so you are way behind mark andreessen. you are not at 100 tweets a day. aaron: i a

economic workforce development and currently sits on the investment board this is where we learned ambassador tech sf graduation and the local jobs training program to provide relevant skills several conversations led us to the realized the faster way to create zen dick technology to train the san franciscans on our product that will fast track them to an important job in as you sit here now deck some of the tens of thousands of people that use as you sit here now deck if not employed while having still have a foundation in customer support and experience as well as the state of the art i'm to introduce mayor ed lee that as you sit here now deck has a terrific relationship the mayor ed lee has impressed on the importance of job creation like the opening up pathways in the tech industry so welcome mayor ed lee (clapping) john thank you for that introduction and i'm glad to be here and this is great to see this is the third cohort of our folks coming through tech sf he want to go through the boat came but jonas passionate as i am i've not had to work that hard as you sit here now deck and it is a lo

so while drivers may be shuttling tech employees, they are not getting the perks of working in tech. the teamsters are trying to get the drivers with bowers a wage increase. over all better working conditions including health care and paid vacation. and there are many players involved in this equation but the rest stays tech companies tend to let the unionization play out on its own. >> the tech companies are really the third party. oftentimes we stay out of it and watch the process play out. these are lower wage. i think that the tech companies are taking a backseat. >> reporter: you are looking at video taken outside at apple where the union also picketed. the teamsters have unionized several hundred bus drivers. they've had some success here including those that drive for the company loop which is contracted for facebook. we have reached out to bowers regarding the allegations of interference and we are waiting to hear back from them. the union has filed a labor relations complaint following yesterday's interaction. so far the commute is picking up. the picketers are getting a fair

compared to the tech school's bustle, public schools are playing catch up. >> before this year, in thet years, we had to go to the class without any electronic device. just we were the first devices the first technology. we had a use our brain, nothing else. >> still things are improving. these days, she has a soft spot for teaching musical presentations. until 10 years ago there were hardly any computers to be found in public schools in bangladesh. today, that's no longer the case, but the teachers of the tech school say that just with having computers isn't enough, and that more needs to be done. he and his friends aren't just learning to use computers. they're using their knowledge to build things. >> they are learning technology at a very early age. the technology is not really happening over here, so we want to let these kids to not just be consumers. >> a device uses sonar to detect obstacles ahead. it's a tool they hope could help the blind. the school has a long way to go, but that's not stopping these children from thinking big. al jazeera. >> getting around the slums by car i

finally a huge move in the tech world. stanley's cfo routh porat announcing she's taking a job at google. porat does have a lot of experience in the valley, led financing rounds on companies including amazon, ebay and net scape, the head of technology investment banking from 1996 to 2000 at morgan stanley. certainly a very important time for the tech industry. she will start at google on may 26th reporting directly to ceo larry paige. we were talking about the culture of women in silicon valley. google has admittedly been trying to increase the number of women in its leadership ranks. >> it has. >> now poached arguably the most powerful woman on wall street. >> with sheryl sandberg she will be the most powerful woman? silicon valley. m marisa mayor a notch below that. she has experience in washington, mentioned as someone involved in the u.s. treasury, turned that down. experience on wall street, experience in silicon valley. the most interesting thing about routh porat i will say is perhaps not her gender it is her age. s

. >> then relative growth because whether it's medium or audits the tech seethes drawing the attention around san francisco a lot of talk gets you know mentioned about well, the multiplier effect many people are talking about local i think people who are opening up sandwich shops as individuals or serve industries can you talk about where you think this is gone relative to each other are through the roof it is much more an out liar. >> first, let me agree with you about the multipleer effect when we say it is driving growth the tech and other export and the tourism industry generate the multiplier effects in terms of that have this i think the creative industries the tech sector is the faster growing sector in the earlier part of the recovery 2011 to 2012 the most growth we've seen in the temple percent range two to three times faster than the rest of the city but the chart is different through other upswing so far have been growing that's the departure whether we've solid. >> if the chart was 2010 to 2014 i assume creative industries will be the one to the right would you think that l

what the tech? show me the tech. u love our brand new technology segment, but enough about me. this segment that was thought up by me, if you want to see tech before deciding whether to invest i can understand it. like i say, we're here to serve. and today no less than jo ling kent here to show what the bells and whistle guys are serving. jo ling, we should point out that you actually had a chance to try out a lot of this stuff. where were you? >> it was the luxury tech show here in new york, and it was actually really show because it's an invite-only event where the rich and the well-heeled can check out that cool technology. that's me riding on a segway without a handle which is new technology, pretty cool. neil: that looks ridiculous. >> it was awesome. neil: okay. let's go into this. you tried this digital headband. what is this about? is. >> well, it's called the muse, and basically it's something that you put on your head, and you hook it up to an ipad to help center yourself. to i look centered there? i don't l

why the tech would anyone not watch, what the tech.ning with this opening item apple justin -- introduced watches, that you know, is apple making a mistake trying to please everyone from the low end, if you can call it that at 350 bucks to the ultra high-end, would you pay $10,000 for one of these? that is the risk that i don't think that people are getting or appreciateing, that apple's targets might be fraying. is it? we ask chris ruby, they are all over the map on this? price map offer map it is confusing. >> i think this is a good move for apple this is the way of the future, and where we need to be going with wear wearable technology. neil: what if we are not into wearable technology. >> i think there is going to be a time, when people don't have a choice it makes move sense people spending $10,000 on a watch. neil: what that $10,000 watch is it gold? >> there is one with 24kt gold, but if you look at that, getting apple watch people spend $10,000 on a watch without features of apple offering seems absurd. neil: that would make it

thomas: what the tech, i'm sold. ening, but i appreciate you exploring subjects others in the media are either ignoring or refuse to cover. tom in washington: during your what the tech segment, you had a look at electric cars and you commented about whether electric cars could cause an actual upsurge in coal usage at power plants. your line of questioning was spot-on which, of course is your trademark. you're always ahead of the game. well, you better talk to steve who emails he's not a fan of this segment at all. cavuto if you think 30000 dog houses will get me to watch you or invest in a company that makes them, you have another thing coming. but i'll give you an a for effort. well i'll take that a i guess, steve. then clara i enjoy how you study all these companies with all this money are trying to spend it on the goofiest things. i like how you said in apple's case, it almost seems as if they're trying to piss it away. i didn't quite say it like that. my point was be aware of companies with lots of dough. sometime

this law has drawn a lot of -- i am surprised about the instant reaction from the tech community. at is different about this law and this time over the last year or so? guests: thank you so much for having me on. if you look back to arizona they will be passing a bill very similar to this, which actually was vetoed and it shows that the tech industry and many industries around the country and around the world just realized that this is discrimination in its most blatant form, and discriminating in business or those around the country is bad for business. tim cook said it in his op-ed in the fact that this coronation is bad for business, and quite frankly i would turn around and ask government pence -- governor patrick pence, why was a closed-door signing if he was truly feeling that this was a good law for the state of indiana? cory: said jerry joins us from bloomington indiana with a school of business, and i wonder there at the school, jerry, when you look at this, is there a sense -- when this was being discussed, that this would have a big impact in the global tech community, o

marc: i'm kind of a protestor and activist in the tech industry seeking change, so i feel very alignedh the protesters. i will tell you, what is exciting for me is that it gives me a vehicle to say to companies, give. do more. if you want to, somehow, quality -- quell these voices, show them that you are not just extracting value from society but giving value back. our corporate leaders are phenomenal leaders. if they can partner with the mayors and superintendents, they -- we can do a lot of good. the more that we can make that happen, the more result we will get. we see that in san francisco and we will prove that. emily: but you have been disappointed, haven't you, in terms of the response of some of these companies? i wonder why aren't we seeing more? marc: i can give you great examples of where i say to someone, hey, we should do more and i see them fully give and go all in. then i can give the example of a famous ceo who i will not say on -- not call out on your show and say don't you want to give back? and he wrote back and said, what have i been given? i said, what do you mean?

compared to the tech school's bustle bangladesh's schools are maybe catch up. >> in the past years wego to the class without any electronic device, just we were the devices, we were the first tech[technical difficulties ] knowledge. we had to use our brain. nothing else. >> reporter: still it's it's things are improving. these days she has a soft spot for teaching using musical presentations. up until about 10 years ago there were hard there any computers to be found in public schools in bangladesh. today that's no longer the case. burr the teachers say just having the computers isn't enough and more knees to be done done. they just report learning to use computers they are building things. >> they are learning technology at an early age but the technology is not really happening over here. so we want to let these kids to be developers instead of just consumers. >> reporter: their show piece is the batman's gadgets a device that uses sonar to detect obstacles ahead. a tool they hope could one day help the blind. like the school itself. the wrote poe type has a long way to go. but that

there is a lot of secular disruption in tech. thearket hasn't been willing to place a high valuation on tech because it believes those profits are not sustainable. for example, despite all the cash and profit, tech is basically at or even less than the broader market multiple. betty: it is. i want you to bring this up because we just showed a chart here of the difference between the tech shares in the nasdaq now and back in 2000. the p/e ratio despite all of these hot tech companies is just at 20 right now. in 2000, it was that -- it was at 194. that is incredible. >> that's right. it's been 15 years of earnings growth and 15 years of the rating versus the broader averages. i think tech is set up quite well. the most important thing which we haven't talked about is innovation. back in 2000, apple was 0.5% of the s&p. google was zero. now apple is 20 and since google didn't exist it's 10% today is a trick question. a lot depends on smartphones. they didn't exist back then. tech always comes back to innovation. betty: mark zuckerberg w

stock warchest -- with the details on the tech stock and then lee kuan yew's relationship with china and the united states. retailers are still feeling the pinch, with headaches from delayed costs and shipments are lingering. julie hyman is here to explain why it is so expensive for retailers. julie: the delays are continuing. the longer the shipments of various goods and products are delayed, the more expensive it can be to these retailers. we are still talking about 20 ships offshore california that have not been able to come into port because there is so much merchandise that is act up, and even further offshore there are more coming into port slowly because they know there is a backup. if you have merchandise sitting at the port at this time, you actually have to pay a fine above a number of -- a certain number of days if it is sitting there. also, you will have to mark down some of this merchandise to clear it out. and then there are potential warehousing costs if you are storing it anywhere for longer than you otherwise might. it'

>> it says if you want to get to the top of tech in the boardroom or at the executive level, it doesn'turt to go through wall street. so at least they've got that going for them. yahoo! announcing it's going to boost its stock buy-back by $2 billion. this is an extension of its $5 billion buy-back program. the company started that in 2013. now analysists have been pushing the company to return more cash to shareholders and pushing for an even bigger buyback from marissa mayer. but the stock is reacting nicely up 2% this morning. >> that's good news to shareholders, there's more cash in their pockets. between meerkat raising new funding and twitter with parascope, there are huge bets on live video becoming the next big thing in social networking all coming on the heels of the growing debate over whether there's a new bubble brewing. josh is joining meerkat's board, good to see you. >> thank you for having me. >> before we get to meerkat that you wrote about extensively, we have had the worst week for the nasdaq since october of last year. five months running. people are saying this corre

tech. i think the old tech companies actually look like some of the better bargains in the market. re a value investor old tech is where you might want to go. cuban's point is about the baby tech companies which are the private companies. and i'll be quite honest, i don't share his -- i think they're overpriced, but if private investors want to play the pricing game they deserve to play the game and lose it if they need to. but i think that's the nature of baby companies everywhere. it's not just tech. any type of young company we get caught up in the pricing game, all about mood and momentum. that's all that's driving the pricing of these companies right now. >> i have a question for you, professor. is that a function of the -- their disrupter status in many cases? >> i think part of it is each company, the people in the company think they're going to be the big winners in this game. each company is actually doing the rationale thing. it might be pricing rationally. the only problem is collectively there isn't enough of a market for all these companies to coexist. so the statements

the ad's message is supported by tech giants apple, intel, and at&t. orce, which just bought an indiana firm for $2.5 billion, was not specific about sanctions against the state, but did get other tech leaders to tweet against it and co-signed a letter encouraging indiana leaders to veto the bill. >> gay rights issues in particular are one where we see a big generational divide and young people who are some of the biggest users of tech i think, will definitely respond to this message and feel like the tech industry is representing us. >> the march is on. tech companies getting more political and standing up for gay rights. scott budman nbc bay area news. >>> certainly silicon valley carrying a lot of weight with that as well. 11:35 right now. we move to the story of a young woman who may be one of the most impressive figures in washington. >> we're talking about the president's newly appointed receptionist. peter alexander has her story. >> every morning in the nation's capital, leah katz-hernandez arrives for work at the white house. her job is one of

neil: what is ikea doing trying to worm its way to a hot new what the tech segment? t really brilliant. i already feel like we're the most connected but i think this solo date will seal the deal. sure! i offer multi-car, safe driver, and so many other discounts that people think i'm a big deal. and boy, are they right. ladies, i can share hundreds in savings with all of you! just visit progressive.com today. but right now, it's choosing time. ooh! we have a winner. all: what? [chuckles] he's supposed to pick one of us. this is a joke, right? that was the whole point of us being here. the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do. neil: well you know by now that nasdaq is back, technology has been on a tear. most talked about new segment in television news has been born