third, i started my venture firm. at the time, i was 24.tween europe and the u.s. during the bubble. when the bubble burst, i moved back to europe, and when i was in europe, i decided to start my fourth venture. and i did my market research, i tried to understand what could be the next big wave after the internet, and i realized that mobile would become pretty big one day. so we were building apps, mobile sites, whatever you have now on your phone. at some point, we decided to sell the business to a bigger group called publicis group. i started my fifth startup, a social media platform for big media and corporations to help them to really manage correctly their social media strategy. it ended up being very successful, and we sold the startup to a bigger group called blackberry in 2013. ♪ the last 15 years, you had three different waves of technology -- the internet, mobile, social media. and i was there and said, "oh, i will try to do something." and i tried to adapt myself. we made mistakes, it was so hard. but we ended up being successful

. >>> a venture firm andnd a university in japan say they have developed a new system that harnesses geothermal power. members of the project team say they'll start a trial run later this week. people from japan new energy and kyoto university created the technology. >> translator: japan is a volcanic country, so we believe we have abundant reserves of geothermal energy. we hope to m make use of them t contribute to p power generatit. >> geothermal power usually involves pumping up hot water and steam from underground. they use river water diverted to pipes that run under ground. the heating water is brought to the surface and is used to create electricity. they hope t to put it into practical u use twowo years fro now. >>> here's a look at some of the other business stories we're following. car sales in china rose 26% for september compared to last year. the figure has topped 20% for three straight months. more than 2.5 million cars were sold in september. pushing sales of small and ecofriendly cars. >>> hundreds of wholesalers and growers are displaying their products at an interna

. ♪ emily: a venture firm startup is doubling down on southeast asia with a new fund worst $50 millionm is to fund 200 deals and use the money for follow-up. the second fund in the region. it has invested in grab. xiaomi now to streaming, is available in the united states. they are entering a crowded space. major tech players offer products that stream video to tv. one things that make me box stand out is it is internet taste live tv. we talked with roger lynch. business, ourdo dna is innovation for everyone. technologytting edge to everyone by making products in large-scale and selling them at a small margin. disruptn opportunity to this space with this model. that's why we are partnering with google. we are here because these cord cutting phenomenons are going mass-market. it's the right time to into the space. emily: sling is available on these other devices. subscribers do you have? >> we don't release these numbers since we are part of dish network. we are excited about the launch of mi box. a launch people have been looking forward to and been excited about hearing -- about here

serious statement given some of the comments and the things we have reported on last week with venture firmsnd some companies. you have said mark zuckerberg said he will maintain his seat on the board. it is a very dangerous road to kick someone off a board because they have different political views. should company separate themselves from peter thiel and they don't believe what he said. >> i can speak to social capital. we decided we will spend the time to create a more bottoms up world. i think it is fundamentally about a positive view of inclusion. i cannot stand to work with people directly at social capital who would have views that transcend policies and enters this gray area bordering on hate. i would have a difficult issue with it. emily: you would kick him off? >> i think sober social capital. if it was romney versus obama, that is politics. i'm not so sure this is politics anymore. emily: he would kick him off. bob: other people would as well. we are in the throes of a lot of things going on. it would be interesting to see what the situation is like after the election, after thing

. ♪ emily: a venture firm artup is doubling down on southeast asia with a new fund worth $50 million.l focus on early-stage startups. he says the aim is to fund 200 deals and use the money for follow-up. this is the company's second fund in the region. it has invested in several companies. turning now to streaming, xiaomi set-top box is available in the u.s. they are entering a crowded space. major tech players offer products that stream video to tv. one thing that makes the mi box stand out is it is internet-based live tv. we caught up with the c.e.o. and vice president of global operations. >> the way we do business, our d.n.a. is what we call innovation for everyone. it is this idea of bringing cutting edge technology to everyone by making products in large-scale and selling them at a small margin. we saw an opportunity to disrupt these connective spaces in the u.s. with this model. that's why we are partnering with google. we are here because these cord cutting phenomenons are going mass-market. i think it is the right time to enter the space. emily: sling is available on these ot

pleasure to introduce tim o'reilly, our moderator this afternoon, a partner of the early stage venture firm o'reilly alpha tech ventures. he's also on the boards of maker media which was spun out from o'reilly media in 2012, code for america, peer j. tim has a history of convening conversations that reshape the technology industry. if you've heard the term open source software or web 2.0 or the maker movement or government as a platform or next economy, he's had a hand in framing each of these big ideas. his next economy summit which will be held here in san francisco on october 10th and 13 19th covered -- 11th, covers many of the same themes we'll be discussing this afternoon. please join me in welcoming tim o'reilly who will introduce our speaker. [applause] >> good afternoon. thanks for joining us. i'm delighted to see you all here. and it's now my pleasure to introduce today's guest. as heidi mentioned, rana's an assistant managing editor at time and is also cnn's global economic analyst. before joining time and cnn, she spent 13 years at "newsweek" as a foreign correspondent covering e

i would venture capital firm i started. every week there are new bars and restaurants opening up. am more hopeful now about the city then i have been. so when we built ford field about 15 years ago, all the advice i got from all the business people whose you are added to your mind to build this in the city of detroit. they won't feel safe. there's nothing for them to do before or after the game. you know, you need to build it up to the northern suburbs which is world the money is. so at that time a terrific man. dennis and i worked it out and it's been a great thing. but for the early years, there was an element of what i just described. that worked. so it is ford field. funny how that kind of works out. >> what is it like your legacy? you are still relatively young. he looked back and people say here's what you did with his life. >> i don't spend any time thinking about that. to me it feels pretentious to even think about that. i don't know what my legacy is. i hope people will say he treated people love and that he cared about the company and he cared about communities but the c

they would not have five years .go for the i've a venture capital firm that i started. it is in the city. every week our new bars and restaurants opening up. i am more hopeful now about the city than i have been. when we built ford field 15 years ago, all of the advice i got from all of the business people was, you're out of your mind to build this in the city of detroit. the fans won't come. feel safe. there's nothing for them to do before or after the game. you know, you need to build it up in the northern shore birds suburbs the northern where the money is. i kind of gold. i worked itan and out. it is been a great thing. for the early years, there was an element of what i described. >> was it hard to sell the naming rights for that stadium? [laughter] >> that worked. for field. funny how that works out. >> what would you like to be your legacy? if you look back and people openly say, here is what he did with his life and career -- what would you like people to say about it? >> idols been any time thinking about it. to me, it feels pretentious stephen think about that

: based on what you know on the candidates -- on where the candidates stand in relation to venture capital firmsre one that you think would be better for the world you operate in? >> for my personal preference -- nea does not make political statements -- as one of the magic partners, i would refrain from telling you what my personal vote would be. tom: but in terms of looking objectively at the same, can you tell me a little bit about what you think would be a more optimal outcome? >> it's sort of depends on your view on who would manage the economy better, which is more of a personal reflection. though donald trump a businessman, i actually think hillary would do a better job with the economy. i think it is a consensus, so it is not just a personal opinion. there have been recent surveys of ceo's and things like that that have heavily drawn the conclusion. tom: we talked about, despite the bullishness in the market right now, there are some non-vc that really clout a lot of money into the market, who kind of her friend, held back a little bit. how has that changed the investing environment? wha

continue the story tomorrow with light speed venture partner robbie maxer, the very first venture capital firm to back snapchat. turning now, qualcomm is moving closer to a deal with a dutch chipmaker. the two companies are making progress on price negotiations. shears of both stocks rose in thursday trading. on the other hand, twitter, shares plunged the most since 2015 on reports that prospects for a deal are falling apart. joining us for the latest on both stories, alex sherman in new york. alex, let's start with twitter. there's reporting now that google and disney are not making a bid for twitter. that sells far -- sales force may be the only suitor remaining. what do we know? alex: it's not all that surprising that google at this stage would say they're not bidding. our initial reporting indicated they might not bid. it opportunity make sense, i would arguing for google to bid unless it knows someone else is going to to a deal for twitter. i think google is fine with an independent twitter. they have a search partnership there. you would think the reason they'd want to buy twitter is to

he is a partner at greylock, the venture capital firm which has backed some of tech's biggest successespast decade. he has also taken a public stand on the presidential election and has pledged to donate up to $5 million to veterans of donald trump releases his tax interns. -- his tax returns. am pleased to have reid hoffman back at this table. welcome. let's take what is in the introduction, first of all. you want donald trump to release his tax returns, and if he does, you will give $5 million to veterans organizations. reid: a young marine vet from iraq launched this campaign. we, as people who put our lives on the line, deserve transparency in our presidential candidate. i looked at this and thought it was brilliant. it was the right alignment of people who have demonstrated the deepest public service together with, well, if you want to be a public servant, you should be transparent. i said this is great. i will do the five million dollars. it doesn't have to be a match. i will do the $5 million if donald trump releases his taxes the way presidential candidates should. and the reaso

i venture-capital firm that started in the city. week there are new bars and restaurants opening. i am more hopeful about the city than i have been. >> when we built ford feels 15 years ago the only advice was you are out of your mind to build in the city of detroit. the fans will not, they will not feel safe. there is nothing to do before or after. you need to build in the northern suburbs. at the time the mayor was terrific but we worked out it is bank rate before the early years there was that element of what i just described. >> what about naming rights? [laughter] >> that worked. funny how that works out. >> what was ladylike to be your legacy? you are young but they will say here's what he did with his life. >> i know spend any time thinking about that. to me if feels pretentious to even think about that. i don't know. the hope people will say i treated people well or cared about the company and uh community that the company operated in. >> thank you so much. [applause] [inaudible conversations] [inaudible conversations] good

i have a venture capital firm that i started. it is in the city. every week, new bars and restaurants opening up. i am more hopeful now about the city than i have been. so when we built ford field 15 years ago, all of the advice i got from all of the business people was, you're out of your mind to build this in the city of detroit. the fans won't come. they won't feel safe. there's nothing for them to do before or after the game. you know, you need to build it up in the northern suburbs where the money is. i kind of gulped. the mayor at the time, dennis archer, he was a terrific man and i worked it out. it is been a great thing. for the early years, there was an element of what i described. david: was it hard to sell the naming rights for that stadium? [laughter] bill: that worked. it is ford field. funny how that works out. david: what would you like to be your legacy? if you look back and people openly say, here is what he did with his life and career -- what would you like people to say about it? bill: i don't spend any time thinking about it. t

if they bought it the same properties through venture cap firms, it would go on the balance sheet. they've got $120 a share in cash that's not earning anything. they've got youtube, which if it was valued like cable tv networks would be several hundred dollars a share. none of that is really accounted for when you look at alphabet selling over 30 times earnings. if you subtract those -- i'm sorry. if you subtract those names out, i think you're paying substantially less than a market multiple for the google search engine business which we think has good tail winds behind it. >> forgive me for interrupting you, bill. >> sorry. >> do you own wells fargo or no? >> we have a small position in wells fargo in the oakmark fund. its not as heavily weighted as bank america, citi, and jp morgan. we think almost all the banks are attractive, believe they deserve to sell at a premium to book value and that as we get to an end of this period where capital requirements are growing, that had he will be able to return most of the cash flow that they generate to the owners. >> yeah. i only ask you,

and it also is annexed it for the adventure -- for the venture capital firm, those waiting for the company'sgo public. and these companies have been holding out for so long, it is nice for them to have an exit. matt: i wonder how many people actually are using it outside of oliver's generation. if i look at my facebook, my mom is on there, my aunts and uncles, grandparents. is your mom on snapchat? tom: no. that is why we like it so much. matt: that is why you like it. a $40 billionfies valuation, do you foresee a time oliver win every generation in every country in the world is using it? watchm: it is interesting to the market value. oliver: this could bring the valuation closer to $25 billion-30 $5 billion, it last time around was less than half and that. so what point in the process can we get more clarity on what it will come to market as? tom: it will take some time to get clarity there. it is a wide range. one person we spoke to said that the value could get higher into the $40 billion range. that could be a little bit ambitious, a little bit aspirational. but at the same time, you kno

our next guest is at the helm of one of the valley's top venture firms. and to weigh in on more.companies acquired in 94 ipos. joining us is the trinity ventures general partner. good morning to you. >> good morning. >> first of all, does salesforce and twitter make sense to you at all? >> yeah. i think, you know, if you think about twitter as a data company, as an extension of what salesforce is doing with chatter internally, that data is pretty valuable for salesforce. because it's a way to measure customer sentiment. and also do customer relationship domain. which is what salesforce has been interested in. so it does make sense. and i think it is something that they are look at very intently for quite some time. i think that twitter's data has been undervalued in the market. and i think many of these companies as they look at it, they're thinking of ways to extract value asset. >> let's talk about that. twitter thus far has struggled to figure out an economic model to monetize whatever you think the value of that data is. what has you convinced that salesforce could have it be

the firms plan to invest about $3 billion in the joint venture next july. they aim to start regular container shipping in april 2018. they project about $200 billion in sales for the venture. making it the industry's six. largest player. presidents of the three firms say the combined fleet will be an advantage. >> translator: japan's shipping industry is facing extremely tough conditions. i think it's very important that we create one strong company to lead. >> the global shipping industry is in crisis and in need of restructuring. overcapacity and the slowing global economy have sent shipping fares tumbling. checking the markets, tokyo's benchmark nikkei average ended slightly low. uncertainty about the u.s. presidential election weighed on sentiment. >> we saw u.s. politics overshadowing sentiment. fresh investigations into hillary clinton's email issues have fuelled investors' worries about the election. a stronger yen also weighed on the benchmark. let's see how it played out in closing levels this monday october 31st. the nikkei 225 fell .1%, closing 1

today we work with over 100 health care companies, many tech companies and a majority of the venture capital firmsthought, let's consolidate the thinking of what we're learning from all these folks into a 20-minute talk and see how we do here. so, three things are driving innovation in our business like never before. and what we're seeing is this convergence of technology in health care that we're all aware of, but i think the future is unbelievably bright for this country. with big data, everyone knows about big data, but what's really happening is we move from having an app here, a tool here and a platform here to starting to think like an information genome. how do we capture the information through multiple systems to actually use it for the benefit of transforming health? artificial intelligence, machine learning and neural networks had tremendous potential. i'll show you one example in a little bit, but the ability to allow software to understand what is happening in these bodies that we have is going to lead to breakthroughs that we can't even imagine today. and with science, we're well int

the venture capital firms that are there have at least nominally been backing them he. question is even beyond the regulatory side, the science of it.he. but the big question is even beyond the regulatory side, the science of it.e. but the big question is even beyond the regulatory side, the science of it.. but the big question is even beyond the regulatory side, the science of it. have they come up with something better in terms of -- >> does it work. >> that's right. and in the health care world, science and regulatory often go together. the regulatory side makes sure the science works. what they said was the old stuff that they were talking about, this ability do a number of tests just using one finger brick wor prick worth of blood, they are not doing that anymore and they warrant are still aim doing just one finer prick, but we haven't seen that it can work. >> with this change, what product have they had that was a success? sounds like they're back to square one. they're a company that hasn't produced everything. they have some wideas. >> they have nothing that th

i have a venture capital firm in the city. every week, there are new bars and restaurants opening up. i am more hopeful now about the city then i have been. eld 15e built ford fi years ago, all the advice i got from business people was, you are out of your mind to build this in the city of detroit. fans will not come. they will not feel safe. there is nothing for them to do before or after the game. you need to build it in the northern suburbs. i kind of gulped. the mayor at the time was dennis archer, terrific man. dennis and i worked it out. it has been a great thing. but in the early years, there was an element of what i described. david: was it hard to sell the naming rights? [laughter] mr. ford: that works. it is ford field. david: what would you like to be your legacy? if you look back and people say, here is what he did with his life and career, what would you like people to say? mr. ford: i do not spend time thinking about that. to me, it feels pretentious to think about that. i hope people will say that he treated peo

>> we have a firm, queens bridge venture partners named after my neighborhood. we take meetings. we take pitch meetings. >> jimmy: are most of the ideas pretty good? or are there terrible idea that is you get? >> they're mostly good. they're smart people. >> jimmy: what about relatives? do you have your you ideas? old friends? that kind of thing? >> my brother. >> jimmy: your brother, okay, good. >> shout-out to jungle out there. he pitches me a meeting. i mean, he pitches me an idea every time we get on the phone. >> jimmy: jungle dust. >> in the middle -- we talk for like an hour. somewhere in there he pitches things. >> what's the craziest thing he's pitched you? >> he's going to kill me, man. [ laughter ] [ laughter ] [ applause ] >> jimmy: a hip-hop theme park? >> is that okay this. >> jimmy: i don't think that's a terrible idea. >> would you go? >> jimmy: nas berry farm you could call it. [ laughter ] [ cheers and applause ] >> you might be on to something. >> jimmy: yeah, jungle. the jungle cruise. it could be everything. it's all there. all right, when we come back you ar

now it's my great pleasure to introduce bob coacher, a partner at venrock, a venture capital firm where he focuses on health care and i.t. investments where, in speaking with him, you'll know immediately that he is truly on the pulse of the future of health care advising and co-funding innovative care, delivery, and digital health companies. he served as a special assistant for health and economic policy where he helped to shape the aca. it was e he was the only physician on the national economic council. prior to working in the white house, he was a partner at mckenzie and company where he analyzed health care delivery systems around the world. he is truly passionate, and i have to say also optimistic about improving health care in america. please welcome bob coacher. >> good afternoon. thank you for sharing your lunchtime with us. i think we have strong signals that health care is getting better faster today than it ever has in america, and i am excited about both the care that we can all receive today and how much better it will get for more people over time. i is a i that for a coup

now, it is my honor to introduce bob coacher, a partner at a venture capital firm where he focuses on health care and i.t. he's brings a unique perspective to today's discussion regarding the future of the affordable care act. he served in president barack obama's administration as a special assistant to the president for health care and economic policy, where he helped to shape the aca. he was the only position on the national economic council. prior to working in the white house, he was a partner at mckinsey and company, where he analyzed health care delivery systems around the world. he is truly passionate and i have to say also, optimistic about improving health care in america. please welcome bob coacher. [applause] coacher: good afternoon. thank you for sharing your lunchtime with us. i think we have strong signals that health care is actually getting better faster today than it ever has in america. and so, i am excited about both the care that we can all receive today and how much better it will get for more people over time. i say that for a couple reasons. i now live in calif

today we work with over 100 health care companies, many tech companies and a majority of the venture capital firmsthought, let's consolidate the thinking of what we're learning from all these folks into a 20-minute talk and see how we do here. so, three things are driving innovation in our business like never before. and what we're seeing is this convergence of technology in health care that we're all aware of, but i think the future is unbelievably bright for this country. with big data, everyone knows about big data, but what's really happening is we move from having an app here, a tool here and a platform here to starting to think like an information genome. how do we capture the information through multiple systems to actually use it for the benefit of transforming health? artificial intelligence, machine learning and neural networks had tremendous potential. i'll show you one example in a little bit, but the ability to allow software to understand what is happening in these bodies that we have is going to lead to breakthroughs that we can't even imagine today. and with science, we're well int

today we work with over 100 health care companies, many tech companies and a majority of the venture capital firmsthought, let's consolidate the thinking of what we're learning from all these folks into a 20-minute talk and see how we do here. so, three things are driving innovation in our business like never before. and what we're seeing is this convergence of technology in health care that we're all aware of, but i think the future is unbelievably bright for this country. with big data, everyone knows about big data, but what's really happening is we move from having an app here, a tool here and a platform here to starting to think like an information genome. how do we capture the information through multiple systems to actually use it for the benefit of transforming health? artificial intelligence, machine learning and neural networks had tremendous potential. i'll show you one example in a little bit, but the ability to allow software to understand what is happening in these bodies that we have is going to lead to breakthroughs that we can't even imagine today. and with science, we're well int

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increasingly, i found myself spending my time with people of means, law firm partners, hedge fund partners and venture capitalists. they were smart, interesting people, knowledgeable about public policy, but they reflected almost uniformly the views of their classes. then he said i started to think the way they thought because i was hanging out with them all the time. just, you know, more precisely, if you look at the 2012 election, the "new york times" reported right at the end of the election that the president obama had spent, attended twice as many fund-raisers in the course of the election has he had attended campaign rallies and mitt romney disappears for long periods, only doing an event a day because he was so busy fund-raising. if you wonder what happened to hillary clinton in the august period, part was a strategy to see if trump would shoot himself in the foot or head every day. didn't work out perfectly, unfortunately, but a lot was she was spending her time fund-raising. where was she? if you have friends in los angeles or san francisco, they can tell you traffic was messed up every day b

firm getting a big boost from trading revenue. we have more on that move coming up. >>> and from olympian to entrepreneur, michael phelps will join us here to discuss his latest business ventures as more and more athletes turn themselves into enterprises. >> swimming with the sharks in the world of business at some point. the nasdaq really the big leader in today's market rally. seema mody has more for us. >> netflix being the driving force contributing about eight points to the nasdaq 100 gains. the headline numbers were positive. subscriber growth here in the u.s. and internationally came in ahead of consensus. speaking to analysts netflix's programming pivot seems to be a key part of the earnings story. the stocks participating in the nasdaq rally. semi conducters outperforming posting best day this month ahead of earnings due after the bell the stock is higher today and also up by 9% year to date. another sector feeling the nasdaq is bio tech which has been under immense pressure because of political rhetoric around drug pricing. despite hillary clinton leading in the polls we are looking at shares of bio tech higher across the board. adam parker is advising clients to buy