♪ ♪ emily: uber and airbnb are often compared as two of the most highly valued unicorns. you are an investor in both. uber oro you see the trajectory of these two companies playing out and comparing them. jim: hard to know. which of your children do you love best? each has an opportunity. we tried to choose specific companies that have places in their industry which are special, and i think that is true of uber, airbnb, spotify, and vice. what interests me as an analog to uber eats is that they are now beginning to focus on experiences at airbnb. if you think about traveling to a hotel, you don't just want the room. you want the concierge and its exposure around the city. i have been a big advocate of a general shift in the economy from things to experiences, and i am really interested in how uber is building uber eats, but airbnb is building its connection to experiences. emily: uber surrendered in china. airbnb is pushing forward in china. they are not the market leader there. could you foresee a partnership with the local rival? jim: i would not use the word surrender in china for uber. it is that partner

uber and airbnb are often compared as two of the most highly valued unicorns. you are an investor in both. so i will ask this question in an interesting way. uber or do you see the trajectory of these two companies playing out and comparing them with each other? jim: hard for me to know. which of your children do you love best? each has different opportunities. we have tried to do is choose specific companies that have places in their industry which are special, and i think that is true of both uber, airbnb, spotify, and vice. what interests me as an analog to uber eats is that they are now beginning to focus on experiences at airbnb. if you think about traveling to a hotel, you don't just want the room. you want the concierge and its exposure around the city. so i have been a big advocate of a general shift in the economy from things to experiences, and i am really interested in how uber is building uber eats, but airbnb is building its connection to experiences. emily: uber surrendered in china. airbnb is pushing forward in china. they are not the market leader there. could you foresee a partnership with the local rival? jim: i would not use the

♪ emily: uber and airbnb are often compared as two of the most highly valued unicorns. you are an investor in both. uber orsee the trajectory of these two companies playing out and comparing them. jim: hard to know. which of your children do you love best? each has an opportunity. we tried to choose specific companies that have places in their industry which are special, and i think that is true of uber, airbnb, spotify, and vice. what interests me as an analog to uber eats is that they are now beginning to focus on experiences at airbnb. if you think about traveling to a hotel, you don't just want the room. you want the concierge and its exposure around the city. i have been a big advocate of a general shift in the economy from things to experiences, and i am really interested in how uber is building uber eats, but airbnb is building its connection to experiences. emily: uber surrendered in china. airbnb is pushing forward in china. they are not the market leader there. could you foresee a partnership with the local rival? jim: i would not use the word surrender in china for uber. it is that partnerships

investor who had invested in uber and airbnb, shervin pishevar, has ties to hollywood, being accused of sexual misconduct. we have documented six cases of unwanted advances orl harassment. one of those people is a long time uber executive telling us he groped her at an uber holiday party in 2014. he has denied these allegations via a representative, saying he maintained a friendly relationship with her. the denial was interesting. he referred us to another person who was at the party talked about how he showed up with a live pony on a leash wearing a santa hat and could not have touched anyone because he had the leash in one hand and a drink in the other. similarly, he has denied allegations from five other women who we talked to who did not want to be named that he either sexually assaulted or harassed them. tom this is our opportunity to : ask you questions or a change. -- for a change. put you in the hot seat. you were really the author of this story. you really drove the story. it took a long time to come together. we've heard a lot of stories about sexual misconduct across silicon valley. and other regions. why does it take so long to pull a story like

the koecorner it's falling to more terrestrial, you know -- >> it's getting -- >> -- airbnb was that it for uber or reality check before it goes public then maybe can grow >> it's a really good question, very unclear how the public markets are going to treat it, either, because you don't now how the business model is going to perform on a quarterly basis if there's going to be an uptake. >> i'm excited if rt t ed for te can finally cover the earnings. >>> next, restoration hardware bought back nearly half its shares this year spending $1 billion to do it and it borrowed about two-thirds of that sum the ceo says the shares were undervalued and granted they've gone from under $30 to over $90 this year. the "wall street journal" suggests this is also a battle against short sellers who may have lost $1 billion this year as a result. is this a smart move >> it's a huge bet by management is it a smart move long term to lever up the balance sheet to this degree in order to buy back a huge pile of stock at accelerating values? i don't know if that's the case. i think that the management protests a little t

in growth of shared economy companies like airbnb, tinder and Über statistics show that we're shifting our trust away from institutions toward individuals. orsome would say strangers in areas is diverse as dating, banking, to sharing rides or hiring nannies been investigating to try to understand how technology is transforming trust and destroying what complications are for our decision in life work and business. also when completed her post graduate studies at harvard, with and objection pored she divides her life between sydney where she lives with her husband and two children and london. we welcome rachel botsman. good evening everyone -- thank you for coming job i know what it's cusp of the holiday so happy holidays to all of you it is really lovely to come back to harvard i haven't been back for 18 years which is a bit frightening but it is lovely to be become and i'm excited to talk to you this evening about my work on trust. and when i thought we would explore is this u trust shift what is happening from institutions to individuals. and i hope i can give you the side good and bachelor's degree and starting to feel in all areas of our

or maybe ibm is next, who knows? are you have what you and i living in silicon valley, this mass speciation going on with new dna, airbnb, uberut, someone will say it is not that different than the last one. the big change was when there was no iphone to the iphone, when there was no cloud to the cloud. everything is a step change. the big one is what matters. the telecommunications industry is gone and has been replaced by a portable computer and portable communications device. they're still companies that can reinvent themselves enough to survive this new digital age? is in the funniest places, like caterpillar, and now in rome, department of defense -- cory: i guess the department of defense has to evolve. it can't go away. >> these are ceos -- why is the ceo at the table making these technology decisions? he or she was never there before. the fear is you get on the train or you will be on the tracks. cory: they think they can get ahead of this stuff and now try -- and trying to buy ibm. maybe someone will get fired for trying to ibm. walmart looking down the tracks, you are in a world of hurt. industrye in the auto and lo

for benefits or subject to traditional legal protections and they're already bringing lawsuits against lyft and grubhub among others. >>> unicorns will grow up. as the likes of uber, airbnbblic, they'll have to clean house and tell the best possible story to investors given the scrutiny on corporate culture in 2017, they'll also have to make sure governance is up to par. three, softbank's vision fund will continue to shape winners and losers in the gig economy. with nearly 1$100 million in fie power and a desire to invest in the most disruptive players, masa son and company will be investors in ridesharing and co-working >> that's what to expect in 2018 i'm particularly interested to see what happens with airbnb the latest round, they raised a billion dollars, at a reported valuation of 31 billion. this is seen as a big disruptor in the world of lodging and hotels it's why marriott hilton have been thinking about what they can do to fend off competition >> if you look at it, you can take the playbook for that and go into what uber did for the transportation industry. >> right >> the idea that you can have people as independent contractors and people offering their own ho

or local funds. it's too much money. that is why, whenever a new for example,ed, live streaming, for example, a news app, for example, the shared economy like airbnb and ubermodels -- not like dozens of companies being created, it is like hundreds of companies being created. and in theory, these companies will never be successful, but everybody, whenever they have a new concept, and they think it will work, they don't want to miss it. so there's a lot of money pouring into new companies and new businesses. the result is that in huge competition in terms of market share, to get bigger. so a lot of competition is irrational. how do you think the country can mitigate its dependence on overseas energy supplies? >> [speaking mandarin] on one hand, chinese oil and gas companies like us must continue to play the role of domestic oil exploitation. on the other hand, we need to speed up our efforts in collaborating with resource rich countries to jointly develop assets in order to replenish our country's ever growing demand for oil and gas. in this way, we can balance our heavy reliance on imports with better use of foreign resources. >> [speaking mandarin] we are

or maybe ibm is next, who knows. >> then you have what you talk about everyday on the show, is this mass speciation that is going on. this new dna, the airbnb, the uber'ss. when the big chain was there was no -- the big change was when there was no iphone and now we have one. the big change is the one that matters. >> the telecommunications industry as you and i knew it, is gone, replaced by the portable computer and the portable communication devices. cory: are there still companies out there that can reinvent themselves enough to survive this new digital age? >> if you o >> i think if you look at what is going on, it is in the funniest of places. now in rome, department of defense. these are companies -- cory the department of defense : does not have a choice, it has to evolve. >> massive, massive, and these are ceos. you say, why is a ceo at the table making these technology decisions? he or she was never there before. the fear is, you either get on the train, or you're going to be on the tracks. : nobody ever got fired for buying ibm, maybe somebody will fired for buying ibm now. >> if you are a walmart and you're looking at amazon coming down the