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timothy draper, sit down. six californias, we'll be right back. (cheers and applause) >> stephen: welcome back, everybody, thank you so much. folks, you know, it's no surprise but i do not trust the mainstream newspapers when i want reliable newspaper i always turn to my local papers like the staten island vance, the number one force for finding out whoos gumba was seen eating gabagu. last week the advance published a heartwarming letter from a vietnam veteran who over the past two years has been awaiting to receive a new wheelchair from the va. two years seems look a long time but they're still filing paperwork from the whiskey rebellion. let's read all about this story by watching the tv. >> michael sulsona went to a lowe store to get fencing for his yard but as he was browsing the bolts on the wheelchair snapped, the store was about to close but the guy in the fence department took him to see the guy in the bolt department. next thing you know he was sitting in a lowe patio chair while three guys fixed his wheelchair. >> they just said, you kno

timothy draper is behind the six californias proposal. this is one hour.noticed, the things i i noticed when i was on the state board of education, a town came to

timothy draper is the person behind the proposal. he recently spoke about it at the commonwealth club of california in san francisco. this is an hour. >> welcome to today's meeting. the place where you are in the know. you can find us online and on facebook and twitter and our youtube channel. i am gloria duffy, president and ceo, and i will be the moderator for today's program. i am pleased to introduce today's feature speaker. venture capitalists, the founding partners of the company, and he is the individual behind six california and it would divide california into six states. i think most of you know and i won't take much of your time and without much ado i will introduce our guest speaker today. thank you. >> thank you so much. it is great to be here and i thank you all for coming. i'm honored to be able to speak here. i thought we would do is i would speak about what i am doing for about 10 minutes and then open it up for questions. so i have had a wonderful career and being in the venture capital business i have been able to h

and later, venture capitalist, timothy draper, talking about his proposal to have california divided into civics states, an idea that -- into six states, an idea that could become a ballot initiative in november's general election. >> as you look back at an iconic moment in american history, what are your reflexes? >> my reflection is one of pride. i did not think i would ever be associated with the space program as i watched from the officer's quarters at the meridian naval air station but i was thrilled, excited, motivated and inspired, and i feel the same way today as the agencyes turning toward moving beyond the steps on the moon to putting humans on mars, and we're excited about that as a mission for this agency. >> which is my next question. how likely is that and when? >> it is very likely. we need several things. we need the will, national will, and we're working on trying to inspire that. we have a president who has told us to do it, so that is really good. he told us that back on tax day, april 15th, 2010. and we have a congress that is also in agreement with that horizon d

capitalist timothy draper is spearheading a measure california into 60. he says the result will be better managed states. get the required 800,000 signatures by july 18, the measure will appear on the state hospital member ballot. fox -- >> good morning. i'm the vice president of the u.s. china business council. on behalf of our member companies, i am pleased to welcome you to this program. the council has been represented american companies doing business with china for four years. the economic ties have become stronger between our nations. are now at the center of the most important bilateral relationship the u.s. will have the century. despite these ties, american companies feasts -- face challenges. -- better of the list market access to reach more of china's spending economy. government to government ilog is a critical part of addressing those issues. the strategic and economic dialogue established by the obama administration has been an effective administration -- tool. the u.s. china business council as aniates secretary lou example of the value of

to timothy back draper from this morning's "financial times" -- and of course, he was the buyer that bought up a huge amount of bitcoin currency for investment. your thoughts? guest: i think we will see more and more people step into it. i think we will see venture capitalists focus on the point. it is a new technology. it is a new payment system. i think we will see people get into it and invest in it, and expand it. host: our next caller is from portland, oregon, dave. good morning to you. caller: good morning. countries that have acquired large sovereign debt historically have worked their way out of it by inflating their currency. challenge for countries trying to stand behind their currency -- my question has to do with the interaction between the federal reserve, or possible interaction between the federal reserve and bitcoin, or other electronic currencies that might appear. does thistent currency that is not controlled by a reserve policy that could include overprinting of money, be anwere, will that effect that will inhibit inflationary policies of sovereign nations, includi

timothy draper is behind the six californias proposal. this is one hour. noticed, the things i i noticed when i was on the state board of education, a town came to us and asked for money to build a gym. we said, how could you take milk away from children? then of course, if you ever made the trip, you know they are swimming in milk. they have more cows than people. for them, the gym made a lot more sense. they had plenty of milk. why was it that we were making that decision for them? it made me start to think that maybe we really need to make it all more local. it needs to be closer to the school. closer all the way down. i got interested in creating local choice. there was an initiative that went down in flames. we got 30% of the vote. i went back to my work and thought, i would lead bymp