the stories of the inventors and companies that creat that creatl cover valley -- silicon valley >> the renaissanc renaissance r9 to 76 there was a big bang in silicon valley the most significant and diverse with the past 150 years writes the historian leslie berlin. the venture capital and biotechnologies the belly brought to life new iconic companies including apple and made the firm sequoia. they spent six years doing research with many of the unsung heroes behind the landmark developments that set in motion the ripple effects that change the world. tonight she joins us to discuss their new book troublemakers silicon valley coming-of-age. this side of the stage we are pleased to present a small exhibit of artifacts bob swanson and bob taylor and we are thrilled to have several with us tonight. will you pleaswill you please se recognized? [applause] we will sell the stories of these remarkable people and others. leslie is the project historian at stanford university and has been a failover for advanced studies and behavioral sciences and other advisory committees at the center at the

dc and silicon valley and it was just incredible. in 1970 when the office started, they made less than $3,000 the combined entire faculty staff and students. now the number is $2 billion this was happening in that same time. how because it was an oversimplification certainly it was this obscure region and i wanted to tell the story. how do you tell a story that is that complex. you have this unusual style of weaving together. how did you come to that? >> jus >> just to give you an overview, i look of seven individuals i look at what they are doing during this window of time. how was this intersected. regis is the person that introduced first microprocessor to the world. if i were telling the story you would never get back. it looks at each period of time and the tragedy of a window and jump to the next and show again how what everyone is doing and that enabled me to hit those nodes where things are crossing and to grade it into weaving. >> many people look at silicon valley in terms of heroic individuals how did you choose these peop

i mean silicon valley is control aring what we see and what we read. how we duet around, how we communicate how we shop. and for an industry that is transforming our lives every day people making products shouldn't be 95% male so we're talking about a problem that snot just silicon valley problem or tech problem -- [applause] this is the world's problem. this is a cultural crisis. i also have is three sons. you know people always say i have daughters i care well i have son and i really care about this. because i fully believe that their lives will be better in a more e equal world but yes for all of the patient out will who have sons and daughters and want daughters to succeed in this industry they're not gepg to stand a chance if industry doesn't change. [inaudible conversations] >> this is an extremely well researched book and one of the things that you did was to go into the statistics, research you mention one stat of -- two, one men 92% of intercapitalist women getting 2% of venture capital dollars at least on 2016 numbers i'm not sure that it rea

what i would say about silicon valley is some of the criticism is fair. these people have to grow up and be more responsible. i have a chapter where i talk about moral responsibility. you break it, you fix it. whether it is the impact on work and his role in the workplace and creating a new kind digital tailor the have the responsibility to at least fix some of this stuff and it also models. he understood that it broke local journalism are having made a lot of money and spend most of their life actually trying to figure out how to reinvent local newspapers. i think that he is a model so silicon valley critique is legitimate and important enough to force these people to grow up. as you say it is very historical you look back at the industrial revolution. i'm not celebrating robbery but i am suggesting that these people have a moral responsibilities, whether it is craig newmark, they are being forced to grow up and they are growing up so it is legitimate but it's not healthy to just trash them. >> you don't agree with any of that? >> i do agree that there i

it's about women in silicon valley and technology. i thought we could start with questions that are super important that most startup founders most people who will be raising money get asked we talked about building startups and inventing the future task about what important truth do you believe underage beer a few people agree with you i'm not done, given some of the research and statistics you found in your book around this radical idea that women should have equal opportunity and could contribute to silicon valley success in the industry, where did you get such a radical idea? >> it was radical at the time. this is before trump and before me too. people would whisper about it we talk about it off-camera and then nobody would say what they really wanted to say. a woman who is raising money doesn't want to risk not raising money because she's calling out investors who are 93% male. yet everybody had ideas about why women have been left out. women account for 25% of computing jobs, women led companies get 2% of funding. 2% people have

and the take on the gender dynamic in silicon valley. it might sluice of conversation with a paypal cofounder. and a move to get workplace culture right. stand, thetakes the courtroom short down -- showdown between uber and waymo. but first, to our lead. snap jumping in after-hours after fourth-quarter earnings reports with top analyst estimates for the first time since the company went public almost a year ago. the earnings were buoyed by momentum in the advertising business and user growth. snapchat fourth-quarter sales jumped to $285 million and daily active users jumped to 287 million, of 18% from a year ago. joining us from seattle is debra williamson, and sarah frier who covers snap for us. what did snap get right this quarter? been: they had transitioning their advertising business to make this more automatic and programmatic, meaning that they can have a bigger base of advertisers. the price of that have gone down. but the volume and the amount of time people look at these ads go up. snap has been able to make this work for them

she has seen it all in silicon valley could she has been entrepreneur a top valley seen silicon become what it is today. joining us is the ceo of the real real, julie, great to have you here. i am so curious as somebody who has seen so much in silicon valley. how much do you think has changed when it comes to the representation and treatment of women in technology and what hasn't changed? >> well, you know, i actually started in tech after i left clorox in 1983, so a long time ago. at that time it felt like a meritocracy. there were other things going on that were a little head scratching, but it felt like, nascentit was such a industry, we were all pulling together and you progressed based on your work. certainly it has changed quite a bit and some things have not changed. i would say if you look at the latest funding report, women are 3% of venture capital that goes to females, but it has been stuck there for over a decade and never has gotten higher. that is the bad news. the good news is that due to other activities, there is a light being shined on the bro culture, while i don't e

many cities adopted silicon valley and so -- many businesses adopted silicon valley and so did a church and even the chamber of commerce recently changed to the silicon valley organization. >> i don't understand why anyone can't be proud of san jose. >> reporter: it's a move that leaves some bewildered. >> it's a whole branding thing. i think it's kind of a blurring rather than a crystalizing of the identity. >> you

did it have to be this way in silicon valley? >> you know, it didn't have to be this way, and that is why i wrote this book. when i went back to the 1940s and 1950s, what i found is that women played vital roles in the burgeoning computer industry, programming computers for the military and programming computers for nasa. think hidden figures, but industrywide. then as the industry was exploding in the 60s and 70s, they were so desperate to find good programmers that they developed personality tests to identify people they thought would be good at this job. two psychologists decided that people who quote/unquote don't like people make for better computer programmers. well, if you look for people who don't like people, the research tells us you'll hire far more men than women. no research to support this idea that people who don't like people or men are particularly better at this job than anyone else. unfortunately that perpetuated and solidified this stereo type of the antsoal white me rd that many of us think ofo this day when

many cities adopted silicon valley and so -- many businesses adopted silicon valley and so did a church and even the chamber of commerce recently changed to the silicon valley organization. >> i don't understand why anyone can't be proud of san jose. >> reporter: it's a move that leaves some bewildered. >> it's a whole branding thing. i think it's kind of a blurring rather than a crystalizing of the identity. >> you need to evolve, stay current. >> reporter: matthew mayhood explained it's part of his organization's evolution into a regional agency. >> we are not just san jose's chamber of commerce, but we are silicon valley's chamber of commerce. >> reporter: san jose was found to be in the top 10 most forgettable cities in a survey. this business owner said he had to change names because it's completely separate from the old san jose symphony which went bankrupt, but having silicon valley in the name hasn't been the financial boost people thought it would and the symphony might even change its name back to san jose. >> i think long time we would like to be affiliated with the city of s

i live in silicon valley. i run a tech company, my wife was formerly a top executive at google and now at facebook and we try not to mention uber that came in between. now that's all out of the way. get to the charges. i'm going it read them out and quick response, guilty or not guilty. number one, big tech's creepy surveillance is destroying our privacy. >> i don't think there's a guilty or not guilty, it's -- i couldn't answer that -- i'm sorry. steve: do you think that privacy -- a lot of people argue -- >> yes, of course, there hasn't been privacy forever. everything that's happened in the past ten years around digital has been a march toward lack of privacy, for everybody. steve: okay. >> guilty? i don't know if you can say guilty or not guilty. steve: have they done it? the argument, the case against them -- >> of course, some of them make models, apple makes iphone. anyone who has advertising or commerce business absolutely. but that was the business of supermarkets before, they're just better at it. th

did it have to be this way in silicon valley? >> you know, it didn't have to be this way, and that is why i wrote this book. when i went back to the 1940s and 1950s, what i found is that women played vital roles in the burgeoning computer industry, programming computers for the military and programming computers for nasa. think hidden figures, but industrywide. then as the industry was exploding in the 60s and 70s, they were so desperate to find good programmers that they developed personality tests to identify people they thought would be good at this job. two psychologists decided that people who quote/unquote don't like people make for better computer programmers. well, if you look for people who don't like people, the research tells us you'll hire far more men than women. no research to support this idea that people who don't like people or men are particularly better at this job than anyone else. unfortunately that perpetuated and solidified this stereo type of the anti social white male nerd that many of us think of to this

silicon valley is getting focused on it. it takes time. emily: david solomon, president and co-coo of goldman sachs. and, coming up, we will speak with famed venture capitalist bill gurley of benchmark capital. also, of course, a big-time uber investor. looking forward to this one, just after this quick break. this is bloomberg. ♪ emily: welcome back to "bloomberg technology." we are live from the goldman sachs tech conference in san francisco. i'm here with bill gurley, venture capitalist, investor in uber, stitch fix, and more. and selina wang, our bloomberg tech reporter. bill, you just got offstage. one of the things you are sounding the alarm right now is that vc's are being too nice. you know nobody wants to be a , nomad. hurting thectually industry and hurting companies. what are you most worried about? bill: this is something that has probably been going on gradually for like a 20-year period, rather than something that just happened yesterday. if you go back years, decades ago in the venture industry, there are famous people who

we said a cross bonded to go see how this could become one of asia's silicon valleys. architect and mayor of bandung was inspired by star trek when he designed this command centre, with the idea of using technology to better serve the people of bandung. we use technology to make everything better, and suddenly, everything is in place. i am very happy. this is my legacy. —— architect and mayor of bandung, ridwan kamil. the recipe of silicon valley is it you need to have the university is close to many areas. people forget that without the size and the education system and university, you do not get that of energy. —— universities close. so these are some of your stickers? yes. i don't think we are ready to become the next silicon valley, because there are still a lot of businesses that still prefer to do everything in the old ways. they will not really open to new services. and that is bandung, indonesia, and its goal to become one of asia's silicon valleys. that is it from asia business report. thank you for investing your time with us. please follow us on twit

you even visited the gold club, the strip club lunch spot in silicon valley. what did you learn from that? >> at 11:45 a.m. on a friday the line was out the door. a lot of people there were tech workers on their lunch break. i mean, this is in the middle of a working day. and, you know, i talked to a couple of women who work at this club. they say, yes, they hear colleagues talking about business. they might go up to a private room together. this is a stone's throw from so many tech companies in the heart of san francisco. and the main point is that so much business in silicon valley, as you said, gets done outside the office, whether it's the strip club or the hotel lobby or the bar, you know, or the sidelines of a conference. and, unfortunately, that leads to some gray areas, lines get blurred and often women can be put in very uncomfortable situations. >> we should mention there are some big names who dispute some accounts in her book. including elon musk of tesla. you'll find the entire interview with emily chang on the abc7 news app. >>> tesla is taking o

meet the woman exposing the naughty side of silicon valley next. and left for dead. police found a bloody teenager on this bay area road. tonight: >>> now at 11:00, beaten, stabbed, left for dead. police find a bloody teenager on this bay area road. tonight, her dying declaration. good evening, i'm ken bastida. >> i'm elizabeth cook. police found the victim in eastern alameda county. tonight the investigation into her murder takes kpix 5 christin ayers to modesto. >> reporter: neighbors say the sheriff's department stood watch in front of this house for hours before arresting the suspect. hours after the victim identified them on her death bed. >> they were nice neighbors. >> reporter: this modesto woman shocked to learn her next door neighbor's son is a suspect in a gruesome murder. >> she said my son did something stupid. >> reporter: they believe 19- year-old man and woman at the same age dumped a woman in livermore and left her for dead. a passing driver called police after finding her stabbed and bloody at 2:00 this morning. >> she is falling on the road. she's

. >> reporter: the future of silicon valley is at stake. urging congress to address immigration reform and the possible and the protection for dreamers. delegation for the silicon valley leadership group wants to impress that they make up 54%. >> very few have criminal records. they are contributing to the strength of america. >> reporter: at the same time, they will lobby for federal funding for the b.a.r.t. in downtown san jose.

silicon valley is so very much dominated by white men. first of all from your perspective do you see these types of issues changing? >> changing over time are right now? >> we are talking about it. there is a lot more media coverage on these types of things. is that landscape beginning to shift or do you see it as we have a really long way to go? >> i would say it would require change. it would require -- the book is fundamentally saying that these companies are a democracy. how do the correct in a society for wheelchair access. ideally in a democracy everyone gets to express their opinion and that's how you represent people. i talk about amy klobuchar and hearing that the senate had about general counsel for google facebook and twitter there. she was explaining to them very patiently we live in a representative democracy so it's very important that we control our elections. you understand that. that's how we do it. that is like a message they don't have. people here like if there would have been at japanese representative. you need to ha

valley? >> well, because that's not what the current plan suggests. >> tucker: no, no. why wouldn't we say look, if you have an advanced degree

valley. for more on dynamos new major stakeholder i'm joined by start law professor in strategic management at warrick business school in the united kingdom good to have you with us so we just heard g.d. will hold thank you almost ten percent in dima being the major stakeholder that way what power does that put into the hands of the chinese group. oh certainly some you know if you're on ten percent of an organisation if you're the largest shareholder you have a word but you still invest so it doesn't necessarily translate into the kind of relationship that they vision and important to note here is that already has in established partnership with bike which is the beijing automotive industry holding and it's a government owned entity here so i don't seem to essentially can do something that will displace the chinese government and somehow threaten death relationship but that's of course interesting having a major chinese stakeholder and a corporation with a chinese government run a company whe

we'll take you into the first day of he silicon valley's trial of the year. crash, bit coin sales below $7,000 coming off peak.ecember we'll track the biggest collapse n the market since bloomberg tracked prices. nd the heir apparent, set free less than a year after the bribery conviction. first to our lead. valley's trial of the year officially underway, lawyers made their opening monday in the most highly anticipated case. awyers for both sides made their case in the lawsuit that waymo'suber of stealing technology to kick-start its own to get an autonomous unit going. matt, legal analysts for bloomberg intelligence. at the trial re today. joel, i start with you, break it c.e.o. on the first on today, what happened? joel: he started off explaining, narrating, somewhat i thought a video of waymo cars making their way phoenix he suburbs of to explain to the jury what is going on. email, onfronted by an his testimony was that he was urprised by anthony, the engineer at the center of the lawsuit leaving, resigning, but confronted with a lawsuit, i'm sorry, with

now, silicon valley is taking on life's biggest challenge — death. dave lee has been looking at how silicon valley is trying to help us all live longer. this will be my last mealfor 36 hours. like a growing number of people in silicon valley, i'm about to try fasting — something some here believe could contribute to extending our lifespan. my advice to you, just sleep in really late so you don't have to deal with it! kristen brown is a biotechnology journalist. she tells me living longer is becoming something of an obsession for many techies. we do tend to see people notjust thinking of their body as a machine but talking about it metaphorically as a machine. are they actually making any progress? it's growing so quickly right now. i mean, we understand so much more this year than we did last year even, but the other thing about science is the more questions you answer, the more questions there are. the following morning, my first stop after i skipped breakfast was geoffrey woo. he's chief executive of a firm called hvmn. it promotes fasting as a w

do you think silicon valley is a meritocracy? chris: i think across the board in the america, we love the idea of meritocracy, this idea that one person can work their way up and be successful. mark zuckerberg said it in a speech at harvard the fact that he was able to learn how to code in high school was because his parents had jobs was an incredible "lucky break" that made it possible to be at harvard and to create facebook collectively. i think it is a complex interplay between the role of luck and the role of work, and we need to be more honest that all these successes are a combination of both. emily: that was facebook cofounder chris hughes. coming up, one of the fastest growing cloud and data software firms just added a tech veteran to its board. we will speak with rubrik ceo and microsoft chair john thompson next. and a reminder -- all episodes of "bloomberg technology" are live streaming on twitter. check us out weekdays. this is bloomberg. ♪ we use our phones and computers the same way these days. so why do we pay to

silicon valley and why is it not working in india? >> think of paypal. masseuse atin-house google who is now a millionaire. it has worked. it helps create the next generation of investors and it keeps the echo system -- the ecosystem robust. one problem in india this book -- beside the bed design is that there have not been as many ipos or big buyouts. 2013, theen, since first high-profile case, we have seen a steady trickle of lawsuits and complaints. to law firms think they are getting a lot of calls from disgruntled employees. carol: are they promised options? sudden, whenof a the company is sold, they do not. >> they are brought on. the company says they have a plan. and that was drafted and codified but some did not>> the. read the fine print. there was an instance where a and thewas acquired founders and the original investors got a payout but the employees said --what about us? go with ahad lawyers fine tooth comb through the plant it said that stock options -- that there was no accelerated investing in a takeover. carol: in the technology section

specifically is it better to use the city's name or the term silicon valley? a gradual renaming trend has been going on for years, and not just at the local businesses. churches, arts organizations have also joined in. the san jose chamber of commerce recently changed their name to the silicon valley organization to help make it more regional. >> we are not just san jose's chambers of commerce, but silicon valley. >> it's a whole branding thing and kind of a blurring rather than a crystallizing of the identity. >> reporter: here is what san jose residents say to our survey poll. 64% oppose swapping san jose for silicon valley. we also asked what would be your opinion of local businesses that make that name change? about half say it makes no difference, but 39% say their opinion would be less favorable. >>> tonight a new report shows only a fraction of the marijuana cultivators in california have state approval to operate. what is causing the hold up? >> reporter: california grows more cannabis than any other state. but most of it is still being grown illegally

valley. all right let's take a closer look at the story for that i'm now joined by christiane studly a professor in strategic management at work business school joining us from bath in the u.k. hi good to see you mr sadler now we see stories like these frequently and the first reaction is often the chinese are taking over everything how much of that is true in the case of diana. i would not necessarily be too worried you know so they're on ten percent it's a sizeable stake but it's far from taking over diamond head has a large shareholder in the past the government owns a sizable share and so far the experience has not been a bad one also in the case of g.d. year i seem to have actually been a good shareholder a good indication a whole war that they kept accompli quite alone and facilitated expansion in china substantially so i would not necessarily be toward. now technically it's a good investor as you said it but traditionally german companies have had stronger ties to u.s. companies for ex

valley. all right let's take a closer look at the story for that i'm now joined by christiane studly a professor in strategic management at work business school joining us from bath in the u.k. hi good to see you mr sadler now we see stories like these frequently and the first reaction is often the chinese are taking over everything how much of that is true in the case of diana i would not necessarily be too worried you know so they're on ten percent it's a sizeable stake but it's far from taking over diamond head has large shareholders in the past the kuwaiti government owns a sizable share and so far the experience has not been a bad one also in the case of g.d. year i think they've actually been a good shareholder a good indication a whole war that they kept accompli quite alone and facilitated expansion in china substantially so i would not necessarily be toward. now technically it's a good investor as you said but traditionally german companies have had stronger ties to u.s. companies fo

valley. all right let's take a closer look at the story for that i'm now joined by christiane studly a professor in strategic management at work business school joining us from bath in the u.k. hi good to see you mr sadler now we see stories like these frequently and the first reaction is often the chinese are taking over everything how much of that is true in the case of diana i would not necessarily be too worried you know so that on ten percent it's a sizeable stake but it's far from taking over diamond head has a large shareholder in the past the government owns a sizeable share and so far the experience has not been a bad one also in the case of g.d. year i think they've actually been a good shareholder a good indication a whole war that they kept accompli quite alone and that facilitated expansion in china substantially so i would not necessarily be toward. now technically it's a good investor as you said it but traditionally german companies have had stronger ties to u.s. companies for

silicon valley, the numbers are more dismal. how is it possible wall street is doing a better job than silicon valley? david: you have to put some of this in perspective. when you talk about silicon valley, you're talking about a broad universe. a lot of the companies we have been talking about in the last few minutes, when we talk about technology companie -- google is not 20 years old yet. facebook is 15 years old. amazon, a little bit more than 20 years old. these are very young companies. in the context of getting focused on this, they have only gotten focused on it more recently. goldman sachs started getting focused on this in the early 1990's, mid-1990's. we still have a lot more work to do, but we have made a lot of progress because we've had that focus. we've had leadership from the top who focused on this as a strategic priority for the organization. silicon valley is getting focused on it. it takes time. emily: david solomon, president and co-coo of goldman sachs. and, coming up, we will speak with famed venture capit

thank you. -- silicon valley >> the renaissanc renaissance r9 to 76 there was a big bang in silicon valley the most significant and diverse with the past 150 years writes the historian leslie berlin. the venture capital and biotechnologies the belly brought to life new iconic companies including apple and made the fir

take a look from a brand-new report from joint venture silicon valley. the average salary $130,000, slightly more than half of the people in the bay area speak a language other than english at home and our communities are almost exactly one-third kau kigs, one-third asian, one-third hispanic. the number of homes sold continues to fall. as it has for five years people aren't selling. a vast majority of people who retire in silicon valley stay in their homes instead of downsizing. that means there are fewer houses for sale. more statistics, if tech buses were a transportation agency they would be the seventh largest in the bay area. about the same size as cal train, the tech buses. these calls come from joint venture silicon valley. the speech about what's going on. i find these statistics fascinating. >> very much so. >> we are so very different. >> thanks a lot, scott. 6:16 right now. tug of war over short-term rental units is heating up. a recent town hall meeting reportedly drew such a massive crowd. that and they had to end the meeting early. full-tim

do you think silicon valley is too arrogant these days? chris: i do think there is a sense, particularly among people who have made a lot of money and a lot of the time, and i'm not speaking about just silicon valley, but in general, that it is all because of one's own actions, and i think we tend to underestimate the power of these macroeconomic forces behind it. things like automation, globalization. i will give you an example. in facebook's case, over the course of the 10 years before it it made over $500 million in venture capital. that kind of financing was not years ago, and40 it is specifically because of financial changes we made in the 1980's to create an industry that is large enough to support that at the same time that everybody else's wages are flat. uber has raised billions of dollars. chris: exactly. facebook is not the only company. it is important to recognize many things i happening in our culture, our government, our society that are creating this wealth in addition to any one individual contribution to it. emily: silico

valley. all right let's take a closer look at the story for that i'm now joined by christiane studly a professor in strategic management at work business school joining us from bath in the u.k. hi good to see you mr sadler now we see stories like these frequently and the first reaction is often the chinese are taking over everything how much of that is true in the case of diana. i would not necessarily be too worried you know so that on ten percent it's a sizeable stake but it's far from taking over diamond head has a large shareholders in the past the government owns a sizeable share and so far the experience has not been a bad one also in the case of g.d. year i seen it gave actually been a good shareholder a good indication a whole wall that it kept accompli quite alone and facilitated stair expansion in china substantially so i would not necessarily be toward you. now technically it's a good investor as you said but traditionally german companies have had stronger ties to u.s. companies f

emily: do you think the idea of meritocracy is problematic in silicon valley? one of the things people who worked at paypal told me was this belief it was a meritocracy, when in fact you were hiring a lot of people you knew. max: i think meritocracy in a vacuum is not a bad idea. i think being able to say honestly that the people who are here have earned their spot is very powerful, saying you are the best of the best. the downside of meritocracy is if that is the only criteria on you choose, you select the people you know, because you don't know how to reach out into other groups, communities, other flavors of engineers. you're going to select from a fairly shallow pool. we ran out of candidates because i ran out of male friends, and there was really not anyone else to recruit. emily: one of the most interesting parts of your story to me is where you talked about what happened at slide, where you said there were some bros, and there was a bro-y culture that developed, and you took action. what happened? max: what triggered my attention to all these things was

how silicon valley can push back on income inequality. this is bloomberg. ♪ apple is in talks to buy supplies of cobalt. it is one of the world's largest users of cobalt for its gadgets. it wants to ensure it has enough of the key ingredient in the midst of it shortage. x rocket carrying three satellites roared into space yesterday. it is part of a system that would provide internet access to remote regions. >> this particular launch is exciting for a few reasons. one is that it carried two of their -- the test satellites for mega mega-correlation -- constellation. it is going to give people options to the current cable providers. most importantly, space x is still going to mars, so this is going to be a key piece in their financial architecture that is going to get them there. >> talk to me about this effort to bring internet access to the farthest corners of the world. is this something that -- this is something that other companies have shied away from. how is what elon musk is doing is -- doing different? de antellites provi alterna

do you think silicon valley is arrogant these days? >> i think there's a sense, particularly among people who lot of money a lot of the time, and i'm not speaking just of silicon valley, germ, that it's all because of one's own actions. tend to underestimate the power of the macroeconomic forces behind them. automation, e globalization, the rise of finance. case, over the course of the 10 years before it made over , it $500 million in venture capital. financing was not possible 20-30, 40 years ago, of financial se changes we made in the 1980s, to enough n industry large to support that at the amount that everyone else's wages are flat. billions.as raised i. >> exactly, exactly. facebook is not the only company. trend. so i think it's important to recollection that there are many things that are happening in our culture, government, society, that are creating this wealth in any one individual's contribution to it. prides on valley often ricocracy,being a mer do you think that? we love the board dea of meritocracy, the idea that one pers

do you think silicon valley would be a better place if more women were running more companies? absolutely. i think every industry would be a better place if more women were probably more companies and women in government. when you fought to get here, women are 20% of the u.s. congress. and often suffers from the tyranny of expectations. all the articles are that women take over the senate. >> 50% of the population with 20% of disease is not a takeover, it was a gap. i think we need to make sure that in this watershed moment, we make a long standing we need, no sex harassment ever for anyone. we are very far from that. this is our moment to make that happen. emily: that was our exclusive it interview with sheryl sandberg. still ahead, the legal battle with travis kalanick. this is bloomberg. ♪ emily: this week, softbank confirmed it will take his japanese telecom operation public. they will separate into telecom arms. speaking at a news conference, it was said they could spend more time on longer-term global corporate strategy and focus more on dealmaking. travis kalanick took

valley and the logic of silicon valley and the college accompanists when it comes to the sisters is that you know how else is it on the sponsibility but health is also what happens as you are exposed to quantum advertising for john clune health as also what happens to us as a child you have to face a certain number of choices in your high school cafeteria this is also helms and this is also something that has to be a fact that by all this. hi i'm joe computer vice president for connected health welcome. our goal is about extending here beyond our four walls creating technologies that enable you as a patient to feel cared for throughout your life and not just when you're visiting the doctor. and that's pumping up now and it's going to stop when it senses that the blood flow is impeded and then it will deflate and as it be flakes that captures the pressure and heart rate the pressure is a little high but that's probably a reflection of the circumstance they're going to. tell you that it's transmitting and it will be able to be seen in the electronic record shortly someone in the offic

do you think silicon valley is a meritocracy? chris: i think across the board in the america we love the idea meritocracy, this idea that one person can work their way up and be successful. mark zuckerberg said it in a speech that the fact that he was able to learn how to code in high school was because his parents had jobs was an incredible "lucky break" that made it possible to be at harvard and to create facebook collectively. i think it is a complex interplay between the role of luck and the role of work. and we need to be more honest that all these successes are a combination of both. emily: that was facebook cofounder chris hughes. coming up, one of the fastest growing cloud and data software firms added a tech veteran. we will speak with rubric ceo and microsoft chair john thompson next. and a reminder -- all episodes of "bloomberg technology" are live streaming on twitter. check us out weekdays. this is bloomberg. ♪ . ♪ emily: will come back to the best of bloomberg technology, i'm emily chang. this companies has grow

in the technology section, silicon valley is looking for a few good ai experts. julia: tens of thousands. carol: what is an ai expert. >> someone big tech companies are looking for them to help them with driverless cars or to upgrade face recognition software. that sort of thing. now there is a pretty wide range of industries interested in ai. julia: what qualifications do i need? i think that is the critical point here. i have a masters degree. could i qualify? >> the baseline requirements tend to be high-level math and statistical understanding. you need a sort of grounding in key programming languages including python. they generally underlie most misting -- machine learning systems. carol: what is interesting about the story is you talk about wanting a seven-figure salary which you can get if you are an ai expert. why is that? is it just a supply and demand question? >> in fact it is hard for people to figure out probably because no one is tracking it holistically how many ai experts there are. a company called element ai in montreal has released a report sug

valley, we're of silicon valley in some ways, but this movement towards innovation with no jobs is really hurting our society. >> so you heard there some harsh words for his silicon valley peers. his co-founder, peter teal is reportedly moving away from san francisco to l.a i also asked karp about his company's financials he said if and when he took his company public, investors he thinks would be impressed by what they see. >> you know, my lawyers will not let me comment on any economic thing, which i would be happy to talk about, but i'm not really allowed to what i can tell you that might be interesting in this context, we understand as creative company, we look create of to the outside world, not what people are expecting in any context, don't look like a national security company, we don't look like a classic enterprise software company, we have no salespeople. i am a ph.d. in philosophy we are making great strides to standardize everything so if we choose to do a public offering, we could do it immediately in that context, we're making strides and at the time we choose to show thing

coming up, how to fix the male-dominated culture in silicon valley. we look at the one group that may hold the key. that's next. this is bloomberg. ♪ emily: well if there is one , thing we have learned about bad behavior in silicon valley, over the last year, it is that it is not just about the people who crossed the line. it is about those who enable it. for prosecutors, the ends justify the means but can that , be an excuse anymore? a," i new book, "brotopi take a look at people who can have a bigger impact, the people who fund the vc's who fund startups. with me is my guests. thank you so much for joining us. limited partners are traditionally very press-shy. i have appreciated you and your colleagues speaking with me how lp'ss issue and are handling it. i would like to go back to the revelations we have heard over the last year about bad behavior in the communities. as someone who funds the seas, how have you received me with of this that behavior? it likeve received almost everybody else, through the press, through social media, that has been t

do you think silicon valley is too arrogant these days? chris: i do think there is a sense, particularly among people who have made a lot of money, that it is all because of one's own actions. i think we tend to underestimate the power of these macroeconomic forces behind it all. things like automation, globalization, the rise of finance. over the course of 10 years before it went public, facebook raised over $500 million in venture capital. that kind of financing was not possible 30 or 40 years ago. it is specifically because of financial changes that we made in the 1980's. emily: in the meantime, uber has raised billions of dollars. chris: facebook isn't the only company, it's a trend. there are many things that are happening that are creating this wealth in addition to anyone individuals contribution to it. emily: silicon valley often prides itself on being a meritocracy. do you think it is a meritocracy? chris: i think we love the idea of meritocracy in america, this idea that one person can work her way up and be successful. mark zuck

look at silicon valley. facebook, roger was an early investor, very successful, has 25,000, 30,000 employees. their market cap is the same as johnson & johnson, basically, exxonmobil, basically. those company have 75,000 and 250,000 employees. silicon valley doesn't create a lot of jobs net, net, net. i think we're seeing the impact of a structural unemployment where there's far more wealth creation for a very small number of people, roger and i are lucky to be in the cohort, let's say, in silicon valley. the large swath, broad back of america is being stifled. the lending is too low. i would say, forgive me, roger, the regulation may be too much for small businesses. the average small business spends between $5,000 and $15 is,000 per year per employee on health insurance. now, withe can say that's a ver important thing. if you have a small business, defined as having tlaenless tha $400,000 a year per revenue -- >> this is interesting, two smart guys with who know a lot about starting businesses have a diffe

which i learned is defined as the m word in silicon valley it even so much as mention moving the silicon valley is a completely free, leave the conference room, locked the door, public toxins check to see if you are gone yet. it is not a popular project to dive into. even though you would think it might be fun. in the plato world, it was the e word for education. basically i think it is safe to say that education in the united states has never been like a first-class buzzword. it is second or third class. and as the microcomputer revolution board on in the 70s and 80s and exploded and people started making money and wall street woke up and realized this is the future gold rush, and it is still going on now and moneymaking became really the thing. and the technology, pace of technology accelerated so fast it is still dizzying. the internet rose up, the web runs of, personal computers with formal powerful cameras and anything plato ever had rose up. and plato was still mission oriented to the e word. even though it had all of the stuff. and all of the ingredients. they could have owned the

emily: do you think the idea of meritocracy is problematic in silicon valley? one of the things people who worked at paypal told me was this belief it was a meritocracy, when in fact you were hiring a lot of people you knew. >> meritocracy in a vacuum is not a bad idea. i think being able to say honestly that the people who are here have earned their spot is very powerful, saying you are the best of the best. the downside of meritocracy is if that is the only criteria on you choose, you select the people you know, because you don't know how to reach out into other groups, communities, other flavors of engineers. you're going to select from a fairly shallow pool. we ran out of candidates because i ran out of male friends, and there was really not anyone else to recruit. emily: one of the most interesting parts of your story to me is where you talked about what happened at slide, where you said there were some br os, and there was a bro-y culture that developed, and you took action. what happened? >> what triggered my attention to all these things was really slid

. >> silicon valley has been a place that's growing. that's changing. >> reporter: joint venture silicon valley's own study of the out-migration says workers are moving to sacramento, austin and portland and blame high housing costs at the top of the list. >> you can't even contemplate getting into the housing market. not just low skilled workers but the tech elite having a hard time affording reasonable housing in silicon valley. >> reporter: in san jose, len ramirez, kpix 5. >> other cities are reaping the rewards of this mass exodus. phoenix, las vegas, atlanta and nashville top the list for inflow. >>> "dub nation" is going global. there's proof the team's appeal is worldwide. >> it's showtime! ♪[ music ] >> a group of warriors fans from south korea created this video they call themselves the s-curry squad and now they are here in the bay area for a big visit. >> we promise that, like, we all -- members gonna come here to see you, this is just for you and just for warriors. >> the s-curry club is here for three games. the fans wil