okta is thempany latest startup to claim unicorn status, as of today, they just announced new fundinge ceo joins me now with the details. this whole unicorn thing is becoming like a badge of honor. >> a horn of honor? emily: some of the concern we've heard from the skeptics is that startups seem to care more about their valuations than actually giving value to the customer. how do you separate the two? >> we take the long view. we are out to build important independent technology company for the long-term. we don't think about the valuation. when we went out to raise this round, we were worried about having a valuation that was too high because it puts pressure on you to have to grow into it. it restricts when you can actually go public. we think that going public is really putting the puck on the ice, so we are excited to move forward, build our company and go forward. emily: so you are worried about the valuation too high. i thought that only happened in -- on hbo's silicon valley. did you take a lower valuation than some were offering? did you take my from different kinds of people

what i think is happening is i think there is a new emergence of unicorns that are really supplantinghose old-school companies. so, the reason why you are seeing such huge valuations and smaller companies like mine are because we are building new value for customers. that the old legacy companies cannot do anymore. more than anything, we are seeing the value shift from legacy companies and moving into newer and smaller companies. emily: how many of these unicorns are going to make it? dave: we have talked before. not all of them. i think that is a great thing. i think i mentioned before -- orest withoutow a f a forest fire. some of them will emerge. the large enterprise companies. they have long customer contracts. the companies that honestly are value based off of user account or based off of foot traffic, i do not think they are going to last. emily: well, we will be watching llion.ta tor.de sales direc we'll be back with more "bloomberg west" coming up. stick around. ♪ emily: welcome back to a special edition of "bloomberg west" live from the dreamforce conference. i want to get st

what i think is happening is i think there is a new emergence of, we will call them unicorns, for youre -- that are really supplanting those old-school companies. so, the reason why you are seeing such huge valuations and smaller companies like mine are because we are building new value for customers. value that the old legacy companies cannot do anymore. more than anything, we are seeing the value shift from these legacy companies and moving into newer and smaller companies. emily: but how many of these unicorns are going to make it? dave: we have talked before. not all of them. i think that is a great thing. it sounds terrible, but i think i mentioned before, you cannot grow a forest without a forest fire. i think some of them will emerge. the ones that will emerge will be the large enterprise companies. they have long customer contracts. they provide real customer value. the companies that honestly are value based off of user account click traffic,f i don't think they are going to last. emily: well, we will be watching you, stallion. sales ceo dave elkington. thank you for joining u

a real life unicorn with new predictive technology. philanthropy.orce the story of the day.

plus, a real-life unicorn with new predictive technology. and we talk salesforce philanthropy.ff a hard. first to our lead, the biggest story of the day. the federal reserve deng

new emojis, including a taco? burrito. they will be part of an update that could roll out coming up in november. a block of cheese, a turkey, a lion, a unicorn and a bottle of champagne. >>> breaking news right now. 250-acre grass fire is burning east of gilroy. it started 3:45 p.m. this afternoon off of westbound state highway 152. it is three miles west of the reservoir. no word on injuries or whether buildings are threatened. we are working to get more information. don't go if it has to do with that truck we saw there. judging from the smoke there, as we pan out. you can see the scope of the fire. our chief meteorologist bill martin. what are the conditioning down there? >> hot and dry. as you look at the smoke, there is no wind. going straight up. i am looking at it like you for the first time. you see access roads. you don't see a lot of buildings. even though it is hot and dry, when you don't have winds firefighters get a good opportunity ocontain the fire -- to contain the fires. they had the record temperature today, 104 degrees in the bill roy area. that was record. the only record. when i look at fires. i am not a fire man, one thi

i know autograph little bit of news about unicorn today, right? >> we do. indeed.oday we announced that we launched a global version of our product. we're now available in north america. unicorn for those that don't know, we're like a theme park for e-sports. and e-sports are professional gaming tournaments and we allow people to bet on you know, video games and watch these video games, and win prizes and that sort of thing and the other thing is that ashton kutcher joined our round so having him on as an investor is exciting we have mark cuban and a number of other great investors as well. so it's a big announcement. we announced we brought on some partners to in our market place that are giving away products from companies like alien wear and hp. and gunnar optics, this company only started nine months ago, we've raised $10 million and we're cranking, so i'm super excited about where we're at. >> rahul, congratulations, we appreciate the insight on china and tech. talk to you soon. >>> ceo of uni corn and founder of microsoft ventures. >>> stocks selling off. tra

>> we have over a hundred unicorns right now, around the world, most sit in the u.s. the great newscorns, there's so much cash on sidelines right now, and so many continue to grab the cash to keep moving them along that even if our markets are slow and rocky and maybe they don't get out exactly in the time frame they want to, you know, if they need extra cashings it's out there. >> there's a piece in vanity fair about a bubble taking place in the unicorn economy, and all will go bust, which is what a bubble does. do you see that? >> i don't think so. the companies are more mature than the last tech bubble. that said, the great news is private funds are going into the companies right now, which is what should be happening outside the public market. >> unicorn, the name means rare, and there have known before in the history of the world a hundred unicorns at one time. you need a new word. now, the other thing that we think for the ipo zz, we think we can get through the fed thing fairly quickly, that implies that they are going to do something at some point. this is part of the proble

the new icons will include a burrito, a unicorn head, a detective, a nerd face with glasses, and a crabmongst other things. there's a taco and hot dog, cheese. we're not showing this, the middle finger. how do i feel about you? there you go. i use them all the time. i didn't think i would but i do. >> would you use the middle finger emoji? >> yes. [ laughter ] >> i probably would. >> i won't ask with whom. >> what's your number again? [ laughter ] >>> it's 4:51 on a friday. more legal trouble could be coming for a core clerk who stopped issuing -- for a court clerk wh,,,,,,,,,,,,,,,, >>> here's a look at your highs around the bay today, not quite as hot. 102 portions. 102 morgan hill. triple digits inland. along the coast cooler. we'll see a little bit of fog, 69 daly city. 89 mill valley. 68 bodega bay. berkeley 70. 75 in kentfield today. a wide temperature range. triple digits for lakeport, clearlake 95 and your full forecast is coming up. >>> let's head to marin county now. it's pretty foggy so limited visibility as you work your way across the golden gate bridge. more coming up. >>>

they're new unicorns and we don't think of them in the likes of uber. but beyond who's going to win the super bowl, it is going to be which of these two companies will end. being the dominant player in this space. >> big article in the "wall street journal" last night that highlights only 1.3% of players win 90% of the money. we'll see if people stay in or drop out. eric, enjoy the tough gig at gillette stadium tonight. all right? tell gisele we said hello. eric chemi. >>> catch tonight's pats/steelers game on your local nbc station. a game where everybody will be talking about air pressure. >>> from real football to fantasy football with real money. dra draftkings and fanduel want your business but it seems likely vegas casinos would like to put them out of business because they are attracting huge dollars from gamers who may have gone to sin city to wager prior. a senior gaming analyst with union gaming, chris, are these fantasy sites at all a threat to casino companies? >> today i don't think they are a threat. i think from their perspective they wan

unicorn, a technology company fight over $1 billion. pay processor for facebook, spotify. sandberg.r, sheryl a newdache for advertisers, the bolt let's users skip an entire commercial break. and over theumers top of viewing experience if they have not cut the cord yet. good to see you. i own two tivo boxes. i pay you every month. of interest ilict have disclosed. >> i watched bloomberg television all the time. we are even. cory: describe your business. people don't understand how much licensing revenue you get. >> we really have for businesses, patent licensing, substantial revenue. we serve about 70 cable operators around the world. we offer tivo as the overall service. we have a retail business, tivo bolt, which saves incredible time, new features. we have a data measurement business which measures second by second what people are watching and gives insight to the television experience. one thing we know is where that is going, audience non-ad supported services in droves. down 10%. cory: you see the raw data before anyone else has a chance to frame it. the networks don't even know you have it.

new york, to philadelphia, it is ok. you can wait. on tech my interview valuations and unicorns.lus, a startup that helps investors get gadgets off of the ground is no more. details on the rise and fall of quirky. ♪ emily: welcome back. i am emily chang. i sat down with sam altman. ted, "i am more scared of unit economics than burn rates." money beforelose making money. that happened at facebook and google. that is ok. i worry about companies that are losing money and have no plan to make money. super-low-margin businesses that operate like they are high-margin, that is a problem. so, if you have the operating , but thef facebook margins of amazon, that is a problem. emily: what are your plans? >> to make a lot of money. this is like a lightbulb for people. takes 20 years and, eventually, it happens. it is ok to lose a lot of money up front and you can invest in growth. you have to have a plan to make lots of cash. this is the economic demand of shifts. why are so many investors getting in to on demand set ups? >> uber has burned more capital than any other startup ever. i do not

unicorn 302 this term, is it just going to continue on? everything that we see in silicon valley associated with this odd word? >> we have something newnicorns. the top three have brought this business model to bear that is leveraging other peoples. we have never seen anything like this. airbus. sneaking up on it has hard issues around capitalism in its current form being good or bad. tom: how do you view it? >> gosh, this is a company that is effectively revolutionizing -- this is not a private car company. ,t is the vascular solutions the last mile for global business. it is valued off the revenues. the valuation, as travis says, the market listens. michael: bill, when someone comes to you and says they have an idea that is like uber, how do you evaluate people who think , as scott says, this is the solution? bill: there are two ways to invest before they go public, at which point you get a market test on what travis thinks it is worth and people are willing to pay. spray and pray. a little bit of money across the board. scott is absolutely correct. this is a new business model that represents the maturation -- digitalness it econom

new emojis. a block of cheese, turkey, lion, unicorn and dave, your wife and i like this one, bottle of champagneof women hoping to increase best cancer awareness by getting cars here in california to go pink. group of breast cancer survive orz called the survivor sisters created this license plate, money goes to help provide women get mammograms. hoping to encourage more women to get tested. the pink license plates cost 50 and if you want to person eyes them, $98. >>> coming up on 6:00 hour and boy a tough story to report. seven people hurt after flames actually spread to four homes. this was in bay point early this morning. another live report on the damage that was done and where the fire may have started. we're going to check in with alex savidge who is out there. >>> and you may remember forler oakland mayor involved in a car crash while she was mayor. the settlement just agreed to after the other driver sued. it took serena williams years to master the two handed backhand. but only one shot to master the chase mobile app. technology designed for you. so you can easily master the way you ban

forget the new iphone and ipad, all those announcements from apple we want to talk about taco, burritos and unicornng added next week, the taco in particular has been a long time coming for it. rather passionate group of individuals pushed for months to get the spicy little half moon of goodness in the mix. taco bell even started a petition through change.org in january which had more than 33,000 online signatures all to get a taco emoji, yes, it's true. the new emojis will become available with the release of the latest ios 9.1 and others we can look forward to on that release include the hot dog, cheese wedge and the bird, the kind you make with your finger. >> oh, that one. >> i can see that one being used a lot. >> taco. >> the taco -- >> pay up at the end. >> glad i -- i could have done so much more but i didn't because you know what, because of this next story. serena williams obviously an icon and the fave at the u.s. open, she plays in the semifinals today if it stops raining and no one will be cheering louder than 3-year-old mimi whose video has gone mad viral. take a look. >> we're playin

number of mobile internet startups valued as over a million dollars, known as unicorns, has jumped over one third, which is bad newsture capitalists wanting to cash in early. year,ing to cisco, last the mobile and mobile traffic was 30 times the size of the in 2000.bile internet they may need to wait longer to recoup their investments. it may be the cheapest time to buy a piece of shell. according to data compiled by bloomberg, the oil is sweetening the offer for bp. trading under $22 for a share. that is the lowest evaluation of shell since 2009. resuming strikes today. to airline has been forced cut half of its intercontinental flights. a dozen walkouts have been state over the last year and a half. they are unhappy with price cuts. erik: it has been a roller coaster ride for market investors and the volatility could be here to stay for a while. ray nolte is the comanaging partner at sky hearst capital. thank you for staying with us. we have a lot to talk about. where should we start? thelet: let's start with volatility. we have a chart that has illustrated it nicely. theperformance overall, global hedge fund inv

new prime. 60-year-olds were abe vigoda. now it's >> why do you look so good at 50 are you drinking unicorn m >> always. >> now, hollywood fromhe insider" together with yahoo! >>> plus social media advantage. we break down donald trump by the numbers goi into tonight's

valued at more than $1 billion, also known in a ,lichÉ that i hate as unicorns has jumped by one third in just eight months. that's bad news looking to cast in early. investors are logging onto mobile internet startups as more services became available via smartphone. last year alone climb up global media data traffic was almost 30 times the size of the entire global internet in 2000. intra-capitalist may have to wait longer to recoup their investments. antitrust regulators in the u.s. and europe have approved general electric's $17 billion acquisition of a power business. assets to getll the deal to go through. jeff hamilton trying to return its company to its industrial roots. mark: president obama knows that a playground. the president referred to the new england patriot quarterback tom brady, who is four-game suspension was lifted by a federal judge. president obama: even brady is happy that he has a union. they had his back. brady needs a union, we definitely need unions. [laughter] mark: the nfl players association filed suit to have that suspension overturned. that's a look at some of the top stories we are followin

new opportunities to invest in america. "mad money," defining the future. 6 eastern, cnbc. >>> we keep hearing about unicorns.se private multi-billion dollar companies waiting in the initial public offering wings with lofty valuations. however higher valuations await them all, including uber, air bnb, and so many others that become ingrained in our lives before we even realize it. right now there's a frenzy in san francisco. i'm more afraid of getting hit by a speed ball. these prospective public companies scream hot, hot, hot. buttive to a ivtive i have to a whom? a man's got to low his own limitations. i recognize i don't know nearly as much as anyone in dreamforce, the conference where i'm broadcasting from in san francisco, when it comes to identifying winners and losers here. they're better qualified to identify which ones are part of a bubble and which are for real. but one thing i know is the stock market. this market is uniquely inhospitable to pretty much every single unicorn out there, with only a couple of exceptions. yet these venture capitalists can pontificate endlessly. but do they know anythin

unicorns for the ndx. and the rally failed, and you see that is the resistance at 2900 day. but we broke into a new low or tested the low like the s&p at 1867. so nice relative strength. key support at the 4,000 level. that is the stop if you are long and i am long. so i think we get a retest of the key resistance up at the 200 day. and now one last chart here. 2010, 2011, two more death crosses at the tail end of 16% declines. neither one of which worked and quickly reversed. you might get a quick trade out of it. but this is not an indicator you want to be a seller of. i'm a buyer. keep in mind, semis and biotech two great ways to play it. the top performers today in terms of stocks. only a few at the same level we saw at the 2011 low. biotech, 400 above the 200 day, that is the lowest level since 2009 i'm a buyer of biotech and semis and if you like that home you are half-way home for the ndx. that is a play for the fourth quarter playbook. >> rich, thank you for your time. rish ross. >> he crushed it. he's taken over for carter worth. sorry, carter, i know you're watching. >> wow! >> there is r

new york city debate league. i want to go to you first, chase. because before we started, you said that ponies are better than unicorns. how can you say that?> well, ponies sound much better. and on reality tv shows, a young man or woman, they say i want a unicorn. they say, no, i want a blue pony, and we're going to name that blue pony blue pony. >> interesting. did you tie your own bow tie? >> yes. if there's a contest tying your own tie, i tied my own tie. >> well done. sadie, who do you think won and why? >> i think between two people, chris christie and marco rubio. because mostly, the debate was sort of to make them fight each other. it was to juxtapose them. but really, what it came down to is who had a plan for the future, who the most out of what they were getting, and how they were going to do it. >> how do you think the debate was moderated? >> the debate was sort of moderated by people who wanted to more entertain america by making these candidates fight each other instead of giving them the presidential quality america is looking for. >> that's a good point. it reminds me, did you ever have a friend in high school or grade scho

new prime. >> 60-year-olds were abe vigoda. now it's me. >> why do you look so good at 50 are you drinking unicorn milk? >> always. >> now, hollywood from the inside out, it's "the insider" together with yahoo! >>> plus social media advantage. we break down donald trump by the numbers going into tonight's must-see tv gop presidential debate. i'll go out on a limb here and say that the republican showdown will definitely be a top trending story of the night. >> it's going to break the internet. kind of along the lines of how twitter exploded after serena williams' upset last week. after her historic grand slam dreams were crushed, everyone quickly called false on her rumored boyfriend drake. with serena in new york facing the romance

news. >> because you were talking start-ups, is the tide in the process of going out? and are a lot of these unicornsnd others going to be caught in an unfriendly position without a suit, so to speak? >> meaning are they overvalued? >> are we going to see blow-ups? >> yes, 100%. >> what magnitude? >> there's a difference today than there was in the last two crashes, right? uber is a real business. spotify is generating millions of remember knew. airbnb, these are real business going forward. it's not like there's going to be a complete collapse. think there will be a a rationalization of valuations. >> great to see you here, thank you for coming in. >> ross levinson. >>> coming up, jeffreys names pfizer agree with the call on pfizer? falling 8% over the past month but shares are up today. >>> are you ready for some football? the nfl season officially kicks off tonight, tom brady takes the field. we'll go live to foxborough ahead of that big game. we're back after this. >>> many big calls on the street today. let's kick it off with tiffany and cigna. rbc initiates. >> stock's at 52-week lows so the se

new york city debate team. i want to go to you first chase because before we started you said ponies are better than un foreigns. how can y -- unicorns>> ponies sound much better. on reality tv shows do you hear a young man or women saying i want a unicorn. they say i want a blue pony and we are going to name that blue pony blue pony. >> did you tie your own blow pie? >> i tied my own tie. >> let's talk about the debate. who do you think won and why? >> i think between two people chris christie and marco rubio. mostly the debate was made so they would fight each other. what it came down to is it had a plan for the future who has the most of out of what they were getting and how they were going to do it. >> how do you think the debate was moderated? >> it was moderateed by making the candidates fight each other and giving presidential quality america is looking for. >> it remind me do you remember a friend win high school or grae school gives you coulds sip like billy thinks your fat. he was sailing you know they don't like you donald trump. that gets everybody mad. >> what did you make of it? >> i thought carly fiorina was the best s

new devices help you get the best deal out there. >>pam moore: that already announced the motion is you can look forward to seeing burritos unicorn swirlsthe software of bed to our early later this year the most scandalous of the update will be the middle finger a mosey that will likely get some and a lot of trouble the exact date of the software of the has not been released a for our entertainment news on the way and 7:00 the insider fraud and then we are back with the news and talk with him expect. >>diane tuazon: got into the 70 degree mark and and what about his it will be a lot cooler the semaphore cassette of a son that the day of the star will be called to disenrolling and illiterate him on saturday at the clouds or some that were back to normal temperatures will hope you join us will have of the on the raging wildfire burning in the sierra foothill 64,000 a. in the containment has dropped to 5% that in all the news at 8:00 see you back then. this is the dawn of an old day. because at&t and directv are offering yesterday's technology, today. tv from space. [whispered] space as long as it's not too rainy. [whispered] rainy or wind

new press have the books for sale in the back. i'm sure erik is happy to sign them and write optimistic thing for you. >> there goes the unicorn. >>ng. [inaudible conversations] >> it's all about a kickback. i love it. >> this is booktv on c-span2. television for serious readers. here's a look at our primetime lineup for this evening: >>> now booktv we want to introduce you to jennifer baumgardner, the publisher and executive director of the feminist press. what is that. >> guest: well, the feminist press is a regular independent nonprofit literary press but we really focus on work by women but not just by women, and then voice that have been marginalizedded. so founded 45 years ago to recovery a lost literature work that had gone out of print because it's written by women. and then it went on to create some of the first texts of the women in gender study movements in universities, and now that every publisher publishes some fem mist books we publish the most cutting edge elm issues other publishers aren't touching because they don't know to or too controversial, so all of our books have a mission behind them and an urgency to the

unicorns. you love them. >> i get on a thing. >> you do. you do. what happened to others? >> finished with. >> what about bitcoin? >> new news.s why it's news. >> there is another debate between now and cnbc debate. without the internet i would probably be like a c student. internet essentials from comcast has brought low-cost high speed internet into the homes of hundreds of thousands of low-income families. it lets students do homework and study at home. so far more than two million people across america have benefitted. internet essentials is going to transform the lives of families. i see myself as maybe an entrepreneur. internet essentials from comcast. helping to bridge the digital divide. >>> we want to thank joe sullivan for joining us for the hour. so you think they should, but they won't, probably? >> right, right. close call. very close call. >> we appreciate it. talki inabout the debate, six democrats, sanders, hillary clinton, u.s. senator jim web and lincoln, and my prediction, it's on cnn, they invite donald. they invite the donald to be part of it, even though -- they -- reach across the aisle. >> that's what

unicorns were everywhere are little girls wouldn't love them. in the tech market unit any corns are everywhere. why should i buy this billion dollar tech company when a new one might be coming out afterwards? facebook phenomenon was this company baked in the oven forever. it became huge in market value. still we found it went up. everybody is hoping for next facebook. too much money flowed into this. you have private equity guys. remember they're not spending their own money. they're spending wealthy investors money. i think too much has gone there and we'll see a shakeout. maria: other thing, dagen, you go and go when the market is ready for you. it has been volatile markets. maybe not the right time to go public right now? >> absolutely. there is a massive amount of excess. we don't see it because these companies are not publicly-traded. according to the journal there are 117 right companies funded by venture-capital that are valued north of a billion dollars. that is double the number from just a year ago. maria: yeah. >> the bigger question is for the economy, if these venture capitalists can not have a liquidity event and take these companies public