this is from the very start of peter thiel's nifesto. he published right after obama was inaugurated in 2009. quote, i stand against the ideology of the inevitability of the death of every individual. did you know that was an ideology? that's quite an ism. some people inevitably have to die, but according to peter thiel not everybody has to die. i stand against the ideology of the inevitability of the death of every individual. that is part of -- that's the prologue of peter thiel's manifesto why we shouldn't have democracy anymore, how women voting killed the country and how we have to move either into space or into the sea. it's something he's been working on as a secret plan for years. we don't know exactly how peter thiel is doing it but there have been multiple reports that he's involved in some sort of regimen he believes will prevent his death forever. which makes me want to go mwah-ha-ha, make you say hide the bats. his colleague, this person he's now having the trump transition consider as the leading candidate to run the food a

emily: what kind of success has thiel actually had?ies, a lot of them are tracking very strongly now. forget the exact number, but it's north of $1 billion in market cap aggregate. the tailwinds are really in our favor. people starting people starting programming at the age of 12 and by the time we meet them, maybe they had 8 years experience. they have role models that they can copy and emulate. we expect to see a lot more great companies come from them. emily: what about the times it doesn't wrok out -- work out? has it been a waste of time? have they learned something? people, thereoung are a lot of opportunities for them if they start a startup and it doesn't go in the direction they want to, as lots of opportunities, whether it be hiring, go back to -- going back to school. being out there and being able to see someone at the age of 18 and 20 years old, i've been out there, i've raise money, i've managed a team, that's a lot more experience than a lot of young people get. the opportunities are still very bright for them no matter

lead,to our president-elect of donald trump met with tech industry leaders pence and peter thiel sittingy his side. >> i am here to help you folks doing well. and you are doing well right now , we are still talking about the bounce. right now everybody likes me, at least a little bit. tim cook, sheryl sandberg, jeff bezos were in attendance. immigration, internet security, regulation on government investment. said, "we are net exporters. over 60% of our sales are overseas o." we caught up outside trump tower. >> the lobby was flooded with reporters. we did get a glimpse at the beginning of the meeting, and trump tried to strike a conciliatory tone, raising peter thiel as an innovator. he said i want you to keep on innovating. i am here to help. he said call me any time. call my people any time. we really don't have a formal change chain of command here. emily: interesting to see them starting off on this foot when silicon valley was against the election of donald trump, besides peter thiel. what are the real policy issues that they will be at odds on here? >> trade, immigration, net neut

emily: peter thiel was sitting next to donald trump in this meeting.very influential in getting these folks together. he is a contrarian and not shy about speaking his mind, but his views differ from a lot of folks in silicon valley. how do you feel about him being the voice in donald trump's year on -- donald trump's ear on technology? vinod: peter is focused on innovation and capitalism, focused on less regulation, all of which jives with what the tech industry would like to see. i mostly agree with peter on many of these issues. there are other issues where he has a different view, and i think that is true in any time there are more than two people with strong opinions. emily: i want to get your thoughts on some of the cabinet picks. rick perry for the department of energy, a department he famously wanted to cut, but could not remember the name of. also, rex tillerson, who has big ties to russia for secretary of state. what you make of these choices? vinod: well, they have previously spoken out against cleantech analogies and climate change issues.

peter thiel was sitting next to donald trump in this meeting.influential in getting these folks together. he is not shy about speaking his from but his views differ a lot of folks views in silicon valley. how do you feel about him being the voice in trump's ear on tech knowledge he? think peter is very focused on innovation and capitalism. he's very focused on less regulation, all of which jobs with the tech industry would like to see. i mostly tend to agree with peter on many of these issues. there are other issues where he has a different view and i think that's true anytime there are more than two people with strong opinions. i want to get your thoughts on some of the cabinet picks -- rick perry for secretary of energy, a department he famously wanted to cut but then couldn't remember the name of. , ceo of thellerson biggest oil company in the world with big ties to russia for secretary of state. what do you make of these choices? vinod: they have previously spoken out against clean technology and climate change issues. i was on ad say is pan

it was peter thiel paying for the legal costs. bankrupted the site, which was later sold. that was sort of in the background. on ahas happened completely unrelated and parallel track is judges around the country have gotten fed up with this whole practice. it is not clear if that case, whether that case fed into this at all. but federal judges around the come out against this practice because, as you can imagine, they don't like to be unaware of anything coming into their court room. judges want to have all the information and be in control. california, the federal judges in the northern district of california have a rules committee, so they put forward this rule that anyone coming into the court with a third-party backer to disclose that they have that backing. >> there are a few firms mentioned that specialize in funding litigation. genesis for litigation funding from an ideological perspective, is it an actual business with a sadist money to be made here, we're going to award?percentage of the guest: it is a business. the u.s.

he started off the meeting by praising peter thiel as an innovator.e praised silicon valley for how important they were, all of the stuff they have been able to accomplish. i want you to keep innovating. i am here to help. he said call me any time. call my people any time. he said we really don't have a formal chain of command here. so he really changed his tone compared to the public opposition that was very alarming on the campaign trail. emily: certainly interesting to see them starting off on this foot after silicon valley was very vocally against the election of donald trump, besides peter thiel. obviously, it is nice to hear these things, i'm sure. but you know what are the real , policy issues that they will be at odds on here? >> like you said, it is trade, immigration, net neutrality and so forth. emily: and social issues. >> there is a lot of people saying this is not about-face, what the tech leaders are doing. why is it such a bad thing to open up the lines of communication? if you have a direct line to the president, which is somewhat of

the tools built by thiel's data mining firm, palantir, could help trump limit migration to the u.s. and to create a muslim registry. thiel's company already has contracts with immigrations and customs enforcement, the departments of justice and defense, and the cia. peter thiel drew fire earlier this month when her refused to confirm whether he'd signed an ethics agreement to recuse himself from any matter affecting his self-interest. in minnesota, a judge has sentenced a woman to six months in prison after she ordered a somali-american woman to speak english before smashing a beer mug into her face for speaking swahili. jodie burchard-risch pleaded guilty to last year's assault at an applebee's restaurant, which left asma jama with a bloodied face and 17 stitches in her lip. jama addressed her attacker in court at a sentencing hearing on tuesday. >> i need to forgive to go on with my life. holding featured against you will not serve me well. in front of everyone e here, i o forgivee you and i hope you choose love over hate. amy: minnesota is home to a large somali-american communit

speaking of peter thiel, it looks like he's the man for arranging this. the techies are coming from california to new york. of course, we want to hear what happened with jeff bezos. of course, he doesn't just own amazon, he also owns "the washington post." so it will be interesting to see if this is a repeat of that meeting that donald trump had with media executives where he lambasted some of them. interesting to note who is not going to be there, jack dorsey, the ceo of twitter. donald trump is revolutionizing the office taking to twitter, instead of doing press conferences. and the guy who invented the platform isn't even going to be there, christine. >> i imagine they're going to talk with trump about taxes. this has been an issue in silicon valley. some have been criticized for their elaborate international tax strategies to keep taxes low. what kind of policies do you think will be first and foremost here? >> it's interesting because taxes may be one blase that these companies could agree on with donald trump. he has said publicly he'd like for comp

it was peter thiel, and famously then the jury award was so large that it bankrupted the site, and itthat was sort of in the , background. what has happened unrelated and parallel is that judges have gotten fed up with this whole practice, and it's not clear whether that case fed into this at all, but federal judges around the country have sort of come out and said something against this practice because they don't like to be unaware of anything coming into their courtroom. judges want to have all the information and be in control, so in california, the federal judges in the northern district of california, the federal district court there, have a rules committee and put forward this rule that would require anybody coming into the court with a third party backer to disclose they have that backing. oliver: in this story, there are a few firms you mention that specialize in funding litigation. i am wondering, is the back drop , is the genesis for litigation funding from an ideological perspective, is it a business where they say there is money to be made here? we will finance it and tak

he started off the meeting by praising peter thiel as an innovator.e praised silicon valley for all the innovations they have been able to accomplish. he said, i want you to keep on innovating. call me anytime, call my people anytime. he said, we don't really have a formal chain of command here. he changed his tone as opposed to a lot of the public opposition that was very alarming on the campaign trail. emily: certainly interesting to see them starting off on that foot after silicon valley was very vocally against the election of donald trump, aside from peter thiel. it's nice to hear these things, i'm sure. one of the real policy issues that they will be at odds here. -- odds on here. >> there's a lot of people saying this is an about face what the tech leaders are doing. why is it such a bad thing, to open up the lines of communication? if you have a direct line to the president, and unprecedented thing we are seeing right now, you can start to influence the things you are important for the tech community and the world, really, and job creation and

thiel firm --er have a plan to find an mark zuckerberg. that is next.loomberg. ♪ this is bloomberg markets. i am david gura. vonnie: i am vonnie quinn. time for a look at the bloomberg business flash, the biggest business stories in the news. carnival cruise lines will plead guilty over waste dump from one of his ships -- the largest u.s. fine over vessel solutions. investigators found in more than 4000 gallons was illegally dumped off the coast of england in 2013. delta airlines pilots have signed off on a contract that includes a 30% raise over quattro years. it might boost delta's labor spending by half of $1 billion in the first year according to jamie baker. it might lead to higher highlight wages and other airlines as a union seeks to match against. a metro central bank governors is leaving his post to run the bank for international settlements. the departure leaves the nation without its most experienced and internationally renowned policymaker as mexico faces new economic challenges from the administration of u.s. president elect donald trump. t

jim o'neill is a managing director at peter thiel's company. he would be an unconventional pick.ll does not have a medical background and every fda head in the last 50 years has either been a trained physician or a scientific researcher. trump has chosen three generals for his top team of advisers including general john kelly for secretary of homeland security, general michael flynn for national security advisor, and general james mattis for defense secretary to succeed ash carter. james mattis has extensive and recent military experience. what does trump's choice me for global cyber security threats? with me to discuss, david cowan. david: general mattis has a terrific reputation as an intellectual. he has advocated force only when necessary and when it would be successful. i think he stands out as a competent pick among trumps cabinet. the question is not about him in particular, but why it is that donald trump would say he is looking to the defense department or the joint chiefs of staff to protect this infrastructure against cyber attacks. looking to the defense department to

>> first of all, let me go back to what you said about peter thiel.ant anybody to go away misinformed. he filed a lawsuit. the judge and jury heard all of the evidence. gawker didn't settle. >> ask him why he did it. he said i did it to -- >> he succeeded with apparently an excellent lawyer who's now been hired by mrs. melania trump who also has been slandered and maligned. she has a right to defend herself. this woman is brilliant. anybody who underestimates hers to so at their own peril. she's going to make an amazing first lady. >> is that going to at any once she's first lady? >> i don't know the course of the lawsuit, wheret is in the process right now, but she has the right to defend herself. >> he invented it. he has pioneered -- >> he succeeded at it. >> and it made a journalistic enterprise disappear. because they wrote a thing about peter thiel. >> being arrogant going forward. >> he accomplished what he set out to do. we both agree. >> the man's an amazing success story. >> he set out to fund that lawsuit to hake gawker disappear, and it wo

inviting peter thiel, a lonely staunch trump supporter. you remember that. he will play a role mending wounds between the tech ceos and president-elect. jonathan, talk about people who have been on his hit list and apple has been flat. apple has taken a lot of flak from him, whether related how they didn't help in the investigation into various terror suspects or in san bernanadino or his criticism of their offshoring. now foxconn is looking doing production here. he is very tenuous relationship with tech. i wonder who they will send to this roundtable? >> why does the president have a hit list of american business owners? liz, that is a little head-scratching, he said on sunday weekend shows he will intervene on day-to-day basis when it comes to american companies. unfortunately we have new political risk. used to be regulation from the democrats. now almost a tweet risk. will your company be on the president's i don't know, you know what it rhymes with. companies on his list when you wake up because one errant tweet can send your stock tumbling. melissa: s

amy: the electronic privacy center has said peter thiel provided secret assistance to the u.s.ustoms and border protection as it tracked travelers and immigrants. the tools built by his data mining firm could help trump limit migration to the u.s. and to create a muslim registry. thiel's company already has contracts with immigrations and customs enforcement, the departments of justice and defense, and the cia. thiel drew fire earlier this month when he refused to confirm whether he'd signed an ethics agreement to recuse himself from any matter affecting his self-interest. he was shown sitting next to trump when he met with all of the heads of google and facebook etc.. naureen shah, what about this? on severalcalling technology companies to make very clear they will not participate in the construction of a registry of american muslims. many have said that they would not, but that is just at the surface level. what we know over the last 15 years, hundreds of companies have participated in information gathering and information mining about u.s. citizens and noncitizens in this co

guy: scott thiel, thank you very much. to come, the conversation we are about to have with michael spencer, the ceo of icap. that conversation is coming up shortly. this is bloomberg. ♪ matt: welcome back to the european open. merkelchancellor angele will run again in the election next year. at the party conference yesterday she received less than 90% of the delegate votes. ,he deputy chairman of the cdu here is what he had to say about the support for angela merkel. >> i find the 90% that she approximately received a good result. we have had in the last year, among us in the party, very active and critical discussions. you could sense that at the party conference. one among the 1000 delegates, one in 10 said, i am not sure about the policy, 90% is a good result. it's strengthening the chancellor. matt: really was not a great result. she has always gotten more than 90% since sehe has been sitting. the only time she got lower was in 2000, before she was elected. what do you think about her candidacy, this continuity that sh

petty: so a not so lawsuit that has taken up a lot of media attention, was peter thiel and gawker., iteter was hulk hogan versus gawker, and it took a long time before it became clear that hulk hogan was not paying for his lawsuit against gawker. lawsuitiled a private after they had published a sex tape involving him. it became clear he was not paying for his legal costs. it was peter teal, and famously then the jury award was so large that it bankrupted the site, and it was later sold. that was sort of in the background. what has happened unrelated and parallel is that judges have gotten fed up with this whole practice, and it's not clear thiser that case fed into at all, but federal judges around the country have sort of come out and said something against this practice because they don't like to be unaware of anything coming into their courtroom. judges want to have all the information and be in control, , the federalnia judges in the northern district of california, the federal astrict court there have rules committee and put for this rule that would require anybody coming into

thiel. >> wonder the heat on peter thiel, and the gawker stuff, has cooled off just a bit. hasn't spoken to really anybody since that. we will keep trying on that. a check on your markets and your money because things are pretty good. we're only up 48 points. not some great market day but it's enough that it is yet another record. so you can say today, the dow hit another record high. by the way f you're wondering, the top performer out of all s&p 500 stocks is range resources. the oil and gas company, rrs, humana and aetna bringing up the rear. my favorite story of the day. take a look at this video. a man running toward a kangaroo because the kangaroo had his dog. i didn't know they had a thing for dogs. but whatever. the first strange thing about this video the dog is being held in a headlock by the kangaroo and then the man decides to literally stand up and punch the kangaroo in the face. the kangaroo kind of dancing around. the dog got away unharmed. the man is supposedly a zookeeper out hunting. he had pretty good form too. he led with his right. >> he was ready. >> l

peter thiel is donald trump's most prominent silicon valley supporter.lystus now is margaret charis and lori garber. lori, i want to get your point of view first. what are the intricacies they will have to go through in handing over from obama to donald trump? lori: the landing team got a late start, but they seem to be a large group. i think with charles miller, that makes eight or nine members and they have a very short time to review what is happening at nasa and recommend new leadership for the agency and policies. i think the team itself is split between a handful of people who are traditionalists who would like to see the status quo am a cost-plus contracts perpetuated and some of these new people who would like to do what the obama administration tried to do more of at the beginning but ran into congress. it will be interesting to see if they have more luck. caroline: marco, talk about the potential split. who potentially went out? will it be the likes of space x and blue origin or the older guard? boeing and lockheed martin. don't think anything

emily: you have been working with the thiel fellowship.t drew you to this idea that kids should not go to school but start companies instead? danielle: i worked an alternative education for a long time, with homeschoolers and started a charter school i was personally drawn to the thiel fellowship. also making sure that younger dogs are not in centralized for too long. it is really important to me. success haveind of they actually had. is this a good formula? michael: absolutely. they are now tracking very strongly, you know, all told. i forget the exact number, but it is north of $1 billion in market cap aggregate. we are really excited to see the next wave. tailwinds are in our favor. we see young people programming by the age of 12 and by the time we meet them, maybe they have eight years experience and they have models i make and emulate. emily: what about the time that does not work out? has it been a waste of time? have they learned something? these are kids, right? danielle: for these young people, there are a lot of opportunities fo

aside from peter thiel, you had very, very little tech support for donald trump.hink peter thiel who is on the board of facebook was part of the orchestration of this meeting along with jared kushner, the president's son-in-law, reince priebus the chief of staff. there's a feeling out process and how the two sides live together. i don't think there are a lot of tech executives who would view favorably the idea of coming into a trump administration, even if they were asked. >> i think the social values intersecting there with some of their economic policies. not to mention immigration. >> absolutely. >> it will be fascinating to read the body language. glad you're there to see how they look going in and coming out. >> when they come down that elevator at trump tower and face the press pool, we'll read a lot from the expressions on their face. hopefully they'll gave us insight into the meeting. >> i wonder if they'll have the photo-op ala kanye west. >> thank you very much for joining us, john. i wonder whether his whole administration when he's in washington will b

peter thiel being one of the few exceptions. he's really the middleman between donald trump and the tech titans today at this meeting. and getting back to jeff bezos, that's the biggest elephant in the room in terms of person-to-person relationship. remember at one point, bezos said at one point trump's rhetoric is eroding democracy around its edges. take a look at these tweets that donald trump fired off aimed at jeff bezos head of amazon and "the washington post." and trump tweeted the @"washington post" loses money is deduction and gives owner jeff bezos power to screw public. congratulations at real donald trump i for one give him my most open mind and wish him success. it's interesting to see, we've been reporting all morning how it seems that the relationship between trump and rick perry, the former governor of texas changed. perry calling him a cancer on the party. and it's interesting to see how trump's relationships can change very quickly. >> they talked to each other some of these messages via twitter. but the twitter

peter thiel's people reached out to elon musk. they worked together at pay pal, long-time friends. >> yep. >> so many interesting subplots, aside from the sorkin column in this tech industry meeting with president-elect trump. trump went after the tech industry during the campaign, criticized apple for making products overseas, criticized bezos of amazon saying he was using the "washington post" to attack trump and preserve his tax position in washington. the tech industry was very much anti-trump. they didn't like his crude populism, they didn't like some of the stances he took on social issues. so this is a potential meeting with all sorts of potential for conflict. i would expect it to be respectful. yesterday bill gates sat down with becky and sort of outlined in a preview form how the two sides might be able to reach common ground. >> i think whether it's education or stopping epidemics, other health breaks through, finishing polio, and in this energy space there can be a very upbeat message that his administration is going t

trump thanked thiel for all the support he gaven him.nterestingly enough he said this watch. >> i'm interested in helping you folks do well. you're doing well right now. i'm honored by the bounce. they're talking about the bounce. everybody in the room has to like me a little bit. reporter: like him a little bit i guess. seems aware, to your point, david, they are executives that didn't see eye-to-eye with him on policy issues during the campaign. with the cameras still rolling, mr. trump went on to say he wants these people to stay in touch. give him a call, give his people a call, anytime he would like to. the way he put it was, we have no chain of command around here. they can get in touch with him whenever they want. they made a brief mention of trade just before the cameras were ushered out of that room, david. that was important issue to him during the campaign. i would assume important eshoo to many executives as well. david: indeed. i'm glad to see traffic moving on fifth avenue. finally shoppers get through. reporter: good. davi

of face sheryl sandberg and over here peter thiele, one plaintiff trump's biggest supporters in tech who helped arrange this meeting and next to thiele is tim cook right there and next to him oracle's sava katz. also interest, none of them spoke with reporters when leaving. the vice president-elect pens tweeted productive as many mitt today with tech leaders focused on job creation and innovation. larry and ama? >> thanks so much, kristen. >>> today's decision by the federal reserve says a key interest rate could be the start of a trend. today's quarter of a percent of a hike marks the second time the fed has raised rates in more than ten years. the last time was six months ago. the fed board had delays a rapid rate increase to help stimulate economic activity by making it cheaper to borrow. >>> investors fully, pektsed the rate hike and even so stocks fall across the board. the dow dropped more than 118 points after flirting with the 20,000 mark for a brief time today. the nasdaq lost 27 points and the s&p 500 fell 18 points. >>> amazon is now testing a system that delivers packages

the most talked about costume of the evening was that of billionaire peter thiel who went dressed asthan hulk hogan. when asked who he was dressed as, president-elect trump pointed to himself and now the word "me." kasie? >>> one more very important story to get to, louis, before we get to break. there is a lot on congress's plate in the months to come with the new administration and on friday a congressman got down to what has to be one of the core issues on everyone's mind this time of year, barbecue. he took to the house floor to let his grievances be known because he is not allowed to cook ribs on capitol hill. >> about seven years ago the architect of the capitol, who works for the house and senate, had decided that we all work for him and started making demands. one of which was i could not cook ribs and share them with other members of congress. as i'd been doing for a quarter, once a quarter. i am grateful that steve skalis got involved and he got paul ryan to help and the speaker was able to persuade the bureaucracies here on capitol hill. that we can make this work and have

he says that it's likely to be a reince priebus, jared kushner, and peter thiel with mostly older tech names. i can also confirm uber's ceo was invited, though he will not be attending. carl? >> deidre, thank you very much for that. you want to be a fly on the wall, too? >> i don't know what's going to happen in that meeting. so many of these things that have been going on in the transition have been more for show than for substance. >> better than the alternative of no meeting. >> well, i agree with that, i agree with that, but it's not at all clear what they have to discuss, because until there is a direction, it's really hard to know. i mean, i look at the things with china. if you're a technology company, the current situation with china throws your entire planning process into confusion. and, you know, if they can resolve that kind of stuff, that will be huge progress. if they can't, i think it's really hard to be a tech ceo right now. >> when you think about other companies' priorities for the administration, health care, financials, roll back of regulation, beyond china you woul

peter thiel is paying them not to. vinod: i disagree with him. think college and high school is very important. there are people who will do well without an education and people who do well no matter what subject they take. leaving aside those people, the top 10%-20%, i think college gives you the grounding to be able to do things that adapt over time. emily: what do you think sets coastal ventures apart from other top-tier ventures? ♪ emily: you went on to found your own fund. what do you think sets khosla ventures apart from other top-tier ventures? sequoia, benchmark, kleiner. vinod: we tend to be much broader. company, enterprise then we will do burgers like impossible foods. we will do rocketry like rocket lab. and then we will do hard science. we will invent new medicine. we do very unusual things. robotics, semiconductors, even nuclear projects. emily: you believe that most vcs actually hurt companies, not help them. what do you mean by that? vinod: applying traditional business school and metrics to start ups is the wrong thing. and when

just about 15 minutes ago peter thiel walked in here to trump tower. it just gives you a little bit of a sense of what is going on here which i think could be summed up this way: a lot. [laughter] trish: indeed. the founder of paypal. thank you so much, blake, we'll continue checking in with you as you continue to spot these folks. i'm joined by former republican presidential candidate and fox news contributor or, governor mike huckabee. governor, good to see you. >> good to see you, trish. what an amazing day it's already turning out to be. trish: well,s this is interesting to me because you, you certainly have been, we should say, a bit of a critic of mitt romney's all along the way, and you did not favor him, as i understand it, for that position of secretary of state. well, now it looks like there are some more choices. what do you think? >> well, i now think we need to call it the not-so-short list of people who are being considered for secretary of state. the fact that he's meeting both with peter thiel and al gore, one of the things that just is

thiel's latest company is involved in border secure. the electronic privacy information center says the palo alto company supplies computer power. >>> someone has to run the computers and keep track of illegal immigrants. there are two concerns this morning. one is thiel has not separated his business from his position in the trump administration. to be fair, neither has trump. if you were to build a muslim database, this would be the sort of technology that you would use. so we're going to continue to watch the involvement with the administration. >> because the conversation will certainly continue. >>> thank you very much scott. we go now to southern california where we're getting ready for another round of rain in the bay area. an evening storm already brought very heavy rains to parts of so cal. the wet weather caused flooding in some parts last night. certainly slowed down the already grinding even commute. the rain also hit last-minute christmas shoppers. the parking lot of a shopping center in el cajon was, as you see, flooded. >

emily: do you think college is important at all/ -- peterel is p thiel is paying them not to?inod: i disagree with peter. there are people that would do well without an education and people that would do well in the matter what subject they take. the top 10% or 20%. i think college gives you a grounding to be able to do things that i adapt over time. sets: what do you think countless ventures apart from the other top-tier capitalists? ♪ emily: you went on to found your own fund. what do you think says coastal adventures part from other top-tier venture capitalists? vinod: we tend to be much, much broader. it is an enterprise software company but then we would do and possible foods. dodo rocket lab and we would very hard science stuff. unusual groupvery of things robotics, semi conductors, we have even done a new ear project. ily: you believe most of vc's hurco companies. vinod: applying traditional school metrics to startups is the wrong thing. 's andeople focus on irr rates of returns, it actually hurts the company. i do not believe just because you are an investor, you are t

our first quote comes from peter thiel. he's the paypal founder or co-founder, the billionaire, who is supporting donald trump.

and adviser jared kushner, chief of staff reince priebus and also billionaire tech investor peter thiel and as we just learned the president-elect's three children were there. donald trump tweeted this about it. he said, "honored to have sat in on this meeting, most impressive group of minds i've seen assembled all looking to fight for america and u.s. jobs." do you think the separation between the trump business and the white house is ever going to be a clear-cut line, a clear line there? >> no, i don't. i mean, remember, tomorrow was going to be the day that the president-elect held a news conference to explain how he was going to divide his business interests and his presidency. that has been canceled and it will never be rescheduled in my opinion. basically, donald trump's position seems to be i won, deal with it, my family will sort of run this, but my family will also be involved in running -- in my presidency. there is not going to be any legally meaningful division of labor between the presidency and the family business and, you know, the president is going to simply say, look,

the meeting was organized by trump transition team member billionaire peter thiel, who famously drove the news website gawker out of business by secretly bankrollingng a controversial lawsuit by wrestler hulk hogan against gawker media earlier this year. trump's adult children donald jr., ivanka, and eric were also at the meeting. trump's inclusion of his children in political meetings has sparked increasising concer. the topics discussed during the 90-minute e meeting were reportedly immigration, education, and tradede with chi. there are few details about the convnversation, howewever, becae journaliststs were forced to lee the meeting after only a few minutes. donald trump has not giviven a press conference for 140 days now, or over four months. his last news conference was when he called on russia to hack hillary clinton's email servers. trump was slated to give his first news conference as president-elect today on whether and how he would disentangle himself from his vast business empire before taking office, but his spokesperson earlier this -- said earlier this week he is postp