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tv   Bloomberg Technology  Bloomberg  April 5, 2017 5:00pm-6:01pm EDT

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u.s. will. she spoke today. her comments came as the investigation into the attack continues and world leaders grapple for a response. president trump today condemned the chemical weapons attack calling it, quote "an affront to humanity." president trump: i will tell you that it's already happened, that my attitude toward syria and assad has changed very much. if you look back over the last few weeks, there were other attacks using gas. alisa: president trump has removed chief strategist steve bannon from the national security council, according to the federal register. bannon's elevation to the council drew criticism from congress and washington's foreign policy establishment. astronaut and former u.s. senator john glenn will be laid to rest tomorrow at arlington national cemetery. glenn is the first american to
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have orbited the earth. he died in december at the age of 95. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. ♪ caroline: i'm caroline hyde. this is "bloomberg technology." amazon is ready for some football. it will take over for twitter as nfl's streaming thursday night headquarters. plus, the return of mcabee. -- mcafee. it spins out as a standalone company once more. president trump is set to host
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chinese president xi jinping in florida. first to our lead, in an nfl showdown off the field, amazon has scored big-time, winning the rights to stream thursday night football. it outbid other companies like facebook, twitter, and google to stream 10 of the league's thursday night games. the prize did not come cheap with amazon paying a whopping $50 million for the one-year deal. they allowed twitter last year to stream the games for significantly lower -- a significantly lower price. joining us now, gerry smith and keith clinkscales. great to have you both. $50 million, clearly the price was right. why would amazon be the right place to be streaming? they have a pay wall.
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this isis: -- gerry: only going to be available to amazon prime subscribers. they might be willing to take a loss on something like tv rights if it encourages people to buy more diapers on amazon prime. jeff bezos has -- live sports is incredibly valuable. i think their thinking is if we can encourage more people to sign up to amazon prime to watch football, then it made a lot of sense. aroline: share price is down little bit today. some analysts making some big quotes, saying this has helped kill the bullish twitter narrative, that they will be the next big life player in sports. -- live player in sports. amazonit's a big win for at twitter's expense. twitter go -- went ahead to show
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this is a possible technology that can be used. working with the nfl, helped -- they helped make it really good. i like the fact that they were not only able to jump on it, but position themselves for the future in working with the nfl. caroline: they are paying an awful lot, $50 million, and it's not even exclusive. .ou have nbc, cbs they are streaming it, too. why would people suddenly be buying into amazon prime for this? excellentt's been question. this is a strategy we have seen the nfl use, where they really slice and dice their media rights and sell them in a lot of different ways. another example is that verizon is the exclusive wireless provider for nfl games. as you saw with twitter, the number of people who watched those games last year -- these
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games are available in a lot of different places. one of the big questions going forward is, the sunday football games, some of the nba games, those are contracts that come up in a few years. it becomes a question of whether amazon or apple or facebook go for any of those. those are really valuable. caroline: scale this out for us a little bit. we've got amazon going through prerecorded material. do you see them as a live streaming player now? does that mean netflix and hulu might do the same? about i'm not sure netflix and hulu. for amazon, this is worth it because of the prime package. the prime opportunities kind of like the skinny packages that are coming up in cable nowadays. if you can find a way to add more value to it, then you are in the right spot. nfl has value. gerry saw it as small audiences.
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i saw that as not a bad swing at it. it doesn't take many games. why did i watch it on twitter last year? because that's where it was. moree the direction, but importantly, television measures things in a different way from tech. what tech companies are for is .o add value to their package having the nfl adds value to the prime package, period. caroline: gerry, i think of this btv in thevtv -- united kingdom enter sports programming. they paid phenomenal amounts. what about twitch? an interesting area
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where gamers stream each other and watch each other's games. is this something that could be capitalized upon when it comes to the social side of the nfl? gerry: certainly. if you look at the amount of money that amazon paid for twitch, they feel like it's a valuable property. every media company now is taking a serious look at e-sports. this is a demographic of young men that are really unreachable in a lot of different, traditional forms of advertising , so they are extremely valuable. every traditional media and tech company is thinking about, how can i get into e-sports? can i sponsor a team? can i sponsor a player? so, certainly, i'm sure amazon has a lot of plans with twitch. whatine: lastly, keith, does the future of the nfl look like? will there be a day where it is exclusively streamed, everyone has cut the cord?
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keith: i don't think broadcast goes away or anything like that. i do think the nfl is smart enough to try to use all available technologies, and it has the market cloud to make people pay -- clout to make people pay. the nfl says they have to share. it creates the opportunity, but it also creates the ability for younger people to go ahead and use technologies they are more theyto using and while still have the power and availability in their reach of the entire current cable platform. caroline: fascinating conversation with keith clinkscales and bloomberg's gerry smith. thank you very much for your insight. noted short seller andrew left has come out with a report shorting fleet core technologies. now it's taking aim at its fees,
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makes akeups -- significantup -- which makes up a significant portion of the revenue. >> i got a pretty good response from customers and former employees, not just investors. caroline: coming up, a huge tech deal is resurrecting a well-known company name and also bringing it back into the private market. we will speak with brian taylor about mcafee's spin off. that's next. this is bloomberg. ♪
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startup focused on improving the trucking company is about to raise more cash.
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this is according to for -- people familiar with the matter. they hope to generate huge savings for the $700 billion trucking industry. their technology makes it less dangerous for trucks to travel within close proximity to each other. for more news on intel, intel security is being spun off and named mcafee. it will once again be a standalone private company. a private equity company will take a 51% stake. jason kelly is with us in san francisco. joined by none other than brian taylor -- bryan taylor. jason: it's great to be with you and with bryan. big day, obviously. this is a standalone company again, a peer play. why does that make sense right now? bryan: cybersecurity is one of
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these existential threats to our lives, our companies, our institutions. mcafee is one of those businesses that is there to protect us. it's the mission of the company -- we think it's a really important mission and we are thrilled to be part of it. jason: it was part of intel. there were sort of big hopes and dreams for it. now it's a standalone company. what gives it an advantage there? bryan: i think somebody at intel figured they were not the natural owner for a $2 billion cybersecurity software company. we caught them at a moment when they were reflecting. do they want to double down and reinvest in the business, or do they want to sell? we gave them an alternative, a partnership. intel still owns 49% of the company. we get to refocus and reinvest in the business. jason: what does the private equity playbook look like here?
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what are the levers that you can pull? bryan: we had 16 months from when we started this deal to when it closed yesterday. in that time, we had a chance to have a vulcan mind meld with management. first and foremost, keep pushing for the products that. it's a great set of products. it can be made better every day. second, we have great customers and we have deep relationships with those customers. it's even broadening our scope. third, we have a unique landscape. there are cybersecurity software companies we can buy and put through this distribution channel to add value to our customers. jason: potential acquisitions down the road. you can do this organically and maybe with some buys? softwarethink security is the overfunded -- is an overfunded area.
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we think we have a platform to buy those and deliver value to customers. software --ave oversight over software at tpg, not just in by outland -- in bu yout land. what are you seeing as far as themes? bryan: we do large capital deals and seed investments and equity checks. we see the whole landscape. we've been working together for over a decade. we have eight to 10 different themes we are practically pursuing in the marketplace. -- we are proactively pursuing in the marketplace. find this creates interesting opportunities. jason: what's the one you are most excited about beyond cyber? bryan: health care is a one dollar trillion industry that is completely retooling its -- is a
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$1 trillion industry that is completely retooling its back-office. we have been pursuing it now for a number of years. we just closed our first major investment and we have others in the works. jason: competitively, who do you run into in the market? strategics, all of the above? what's the competitive landscape? bryan: when i started doing this, there were two or three of us. today, every private equity firm says they have a software practice. i've been doing it for 15 years. my partners have been doing it for 15 years. we have been doing it together in 10 years. if we are proactive and thematic, we end up not facing a lot of competition. there's a big enough market that we find situations like mcafee where it's really just us and the seller trying to build a partnership instead of a transaction. jason: when you look around silicon valley and the world
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beyond, how do you feel about valuations as a buyer? bryan: in 2003, we had $3 billion of software buyouts and we thought we had hit the top of the market. it reflects that people have come to appreciate the power of these businesses. the tailwinds in revenue, the defensibility of the business model, cash conversion -- i think that's reflected in values. i'm confident software continue to penetrate the enterprise and revolutionize how we do business. jason: on the exit side, there's always the question, is the ipo window open? are there a lot of active buyers out there? is the ipo window open in your estimation? bryan: it comes and it goes. on acquisition is not based an ipo. we focus on can we build great
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businesses and let exit take care of itself. jason: too much capital out there? bryan: i focus on the micro. are we finding businesses and driving value around that? to be bryan taylor, great with you here in san francisco. caroline, back to you. caroline: fascinating interview. we have seen enterprise software is where it's at when it comes to the ipo market. later, we will get more on that , chrisom the mcafee ceo young. coming up, president trump is set to host china's president this week. we would dig into the top issues tech investors should be watching. and a feature we would like to bring to your attention is our interactive tv function. the it at tv on bloomberg.
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can become part of the conversation by sending us instant messages during our show. this is for bloomberg subscribers only. this is bloomberg. ♪
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caroline: in germany, chancellor merkel ascap and it is backing legislation that threatens facebook and other social media platforms -- chancellor merkel's cabinet is backing legislation that threatens facebook and other social media platforms. if passed by parliament, the measures would be the toughest regulation facebook faces in any country where it operates. meanwhile, president trump is set to host china's president, ximeanwhile, president trump is set to host china's president, xi jinping, in mar-a-lago, florida, on thursday.
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a wide range of topics are on the agenda, including some that will hit tech hard. joining us from new york to preview this important meeting is selina wang, who covers all of our key china giants for us as well. it's pretty fascinating. you've got to dig into this particular function, ectr. it shows the trade flows. china is the u.s.'s number one trade partner. 2/3 of $1 trillion is exchanged between the two countries. give us a sense of how important this will be to the likes of alibaba, tencent, who are looking to be doing that trade with the u.s. selina: truly, this is a much awaited meeting. it's the first major meeting. oureed to temper expectations. there's not likely to be tangible outcomes from this, but and sets thetage tone for future policies to come. among china's tech giants, there is alibaba, baidu, tencent. alibaba has the most to lose, given jack ma's tense
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relationship with donald trump. --baba and tencent itsaba has a large part of business that focuses on trade between the u.s. and china. if trump or to raise tariffs on goods coming from china, that would hurt their ali-express business. that could make it harder for them to onboard u.s. businesses onto their website. going tothat xi is want trump to focus on china as a vast market for u.s. companies to sell goods to, and which could help create jobs in the u.s. caroline: the tech titans have been making inroads into china. i'm thinking apple. as well as their supply chain is so important. they are big players in the u.s. as well. selina: apple is going to be a major player, watching to see what the tone is that comes out of this. he was going to slap some problems on companies that would send their suppliers
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and workers overseas. apple, of course, have major supply chain networks in china. if that were to be the case, it could significantly raise the productioncost of and ultimately the cost of goods to consumers. caroline: what's fascinating is the amount of money that comes in terms of direct investment from china and also vc money, companies being bought, startups. it's a big exit route. one company found backing with the facebook of china. alibaba and tencent have been plowing money into the likes of lyft. we've seen so many companies in the u.s. is this the more important area that will be focused on, the money, the investment? selina: this is a multifaceted issue. on the one hand, you have some domestic chinese policy impacting this, which the chinese government is trying to curb some of these outbound investments for currency stabilization.
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that's one issue making it harder for outbound investment. on the other hand, you have this review process that has become more highly politicized, i would say. it's a process which determines whether or not acquisitions of this sort could have some national security and locations. the westinghouse deal may come into the picture. that's more black and white because this is for nuclear technology. that has clear national security implications. another company i've been covering, their deal for moneygram, a money remittances cleary -- there are not national security concerns, but you already have congressmen and trade groups allow -- urging them not to allow this to go through because of potential national security concerns. xi has an interest to have chinese companies acquire strong technology in the united states. caroline: absolutely fascinating. so many of the companies you
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report on touch on this. it's as to why they can't pay some of of their u.s. employees right now. selina wang, thank you. up next, the return of mcafee. cybersecurity giant reemerges as a standalone company more than six years after being scooped up by intel. we will hear from the newly named ceo. that's next. if you like bloomberg news, check us out on the radio here you can listen on the bloomberg and onpp, bloomberg.com, the u.s. -- on sirius in the u.s. this is bloomberg. ♪
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whoo! boom baby! rated pg-13. [ screams ] [ [ screams ] ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ] are watching "bloomberg technology." french president francois hollande has condemned what he calls a war crime after the chemical attack in syria.
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france pushed for an international military campaign against syrian president bashar al-assad after alleged chemical weapons in 2013 and is said to still hold that position. in the u.s., parents and children caught crossing the mexican border into the u.s. -- if they are crossing illegally, they can remain together. it's a partial reversal of an earlier stance. the agency had previously considered separation as a deterrent. russia has arrested six people on suspicion of recruiting terrorists. no word if the arrests are linked to the subway bombing in st. petersburg that killed 14 people. the arrest come from -- arrests come from -- monday's suicide bomber was from turkestan -- here just been -- from kyrgyzstan. to be the strongest argument yet backing up claims that the ruling party candidate
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won ecuador's election through fraud. in south africa, president zuma survived calls to resign by members of the ruling party. he fought back against accusations he did not consult adequately before firing the finance minister. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. it is just after 5:30 p.m. wednesday here in new york, 7:30 thursday morning now in sydney. i'm joined by bloomberg's paul allen with a look at the markets. paul: good morning. still about 2 1/2 hours away from the open on the asx. we will be keeping a night on -- keeping an eye on bhp billiton. shares were up after bhp declared force majeure for
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deliveries from its mines. over in japan, the nikkei futures traded out of singapore are pointing down 0.4". we will keep an eye on the convenience store holdings. they are out with earnings after the close today. you're expecting a good full-year forecast. -- we are expecting a good full-year forecast. i'm paul allen in sydney. more from "bloomberg technology" next. ♪ caroline: welcome back to "bloomberg technology." i'm caroline hyde. amazon is getting into the
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sports broadcasting business. thee-commerce giant has won rights to livestream 10 thursday night nfl football games. scrimmage off the field, one company just scored the rights to stream thursday night football. it's a huge win for amazon this year, outputting facebook, youtube, and even last year's winner, twitter. amazon will pay $50 million for 10 games which start in this -- in september. that's a sharp increase from the $10 million twitter paid for the same number of games last season. amazon will offer the games for free to its amazon prime subscribers worldwide. the games are not completely free since prime membership per year,ollars another big shift from last year's streaming model. twitter offered thursday night games to everyone for absolutely no-cost. part of twitter's appeal was having a social element, a way to talk about the game with other fans well watching it on the same screen -- fans while
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watching it on the same screen. since the partnership, twitter has lost key staff. it has averaged less than 300,000 views per minute while tv broadcasts averaged 15.8 million. amazon has a lot to prove. this is the first -- its first major push into life streaming. -- into live streaming. for now, amazon can take a victory lap. caroline: that was bloomberg's caitlin meehan -- kaitlin meehan reporting. that is making a comeback. -- mcafee is making a comeback. intel and mcafee are parting ways. mcafee will once again be a standalone, now private company owned by tpg and intel. chris young has been tapped to lead the company as ceo. he joins us from the company's headquarters in santa clara,
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california. i'm sure it is bittersweet to wave goodbye to your firm -- previous firm, intel. tell us about the last two years you have been helping the turnaround. why would mcafee be better as a standalone unit? chris: number one, thank you. a lot has changed in the cybersecurity market the last few years. it's grown a lot. there have been thousands of new competitors, larger companies are making investments in this space. we have to be able to move more quickly. being focused on cybersecurity at the company level is going to be critical for us to be able to innovate. that's going to help us grow and serve customer needs better and focus on the unique needs of this market, because it's unlike any other part of the i.t. landscape. caroline: i've got to ask, because it caught my attention so much. it was bought by intel for a whopping almost $8 billion. now the evaluation is half that. is that because the competitive base is so tough now? chris: i think a lot of things changed.
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markets change, valuations change. we've had really good performance over the last couple years as part of intel. intel is remaining a 49% owner. so, very much intel and the boar d, the ceo believe there is a lot more value to be created. as a standalone company, we will be in a better position to do that for intel and our shareholders. caroline: let's talk about how you are going to add that value. adding to your current -- you are going to be using machine learning, ai. you will improve the ability to defend and attack -- detect. tell us about the areas you want to get into. chris: we think of threat defense as a lifecycle. it starts by stopping attacks before they happen, detecting them as they happen, and being able to quickly correct those attacks. ,t works in an important
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integrated way. mcafee is one of the largest pure play cybersecurity companies in the world. we have technologies, expertise, people that cut across all those areas, so we are really able to come into a customer's environment, whether it is a large corporation, governmental agency, and work with them to solve cybersecurity at holistic level, not so much focused down on the individual products, but really come at the problem -- coming at the problem holistically. so many of our customers appreciate that. caroline: you have been leading the way in terms of partnerships, working with other almost competitors in the field. is this going to be something we see continuing, that we see cybersecurity companies having to be able to integrate together, or could we e seeing more than just partnerships, perhaps a little bit of m&a? chris: we think integration is critical. cybersecurity is a heterogeneous environment for most of our customers. one of the things that we did when we relaunched the brand
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was, we made a promise. we've created open-source technologies. we have been partnering with other companies, our competitors, through organizations like the cyber threat alliance. we are working hard to make sure we can bring together our own products in an architecture, but we can help customers bring together different parts of their cybersecurity architecture to help them get to the right outcome. over the long-term, yeah, there will be opportunities for us to not only build and create our new products, but to add pieces that would come to us through mergers and acquisitions as well. we are looking at these problems holistically. that's one of the ways our customers really value us as one of the larger players here, that we can bring to them holistic capabilities. we can scale with them globally if needed to. ancan be with them 24x7 as extension of their business. that's critical, because
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everybody worries about cybersecurity today because it's a really important topic. caroline: i look at the start of area. there's one i knew growing up in the u.k. that has a joint headquarters in san francisco. when we are looking not only globally at the cybersecurity scene, but threats, where are you seeing clients using your products most from a geographic point of view, and where do you see these interesting startups coming from? chris: there are interesting startups popping up all over the world. cybersecurity is one of those problems that is uniquely global in nature. i talk to customers all over the place on a very regular basis, and i get that question a lot. they say, what's different about my country, about our region. well you see some differences,
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-- while you see some differences, a lot of the challenges people face are the same. they are dealing with data loss. they are dealing with hard to detect malware, insider threats. one of the things they are looking for is partnerships with companies like ours, that can help them understand the global landscape, but really deal with it on a local level, with people on the ground, with insights on the ground for the threats that they face in their business. it's a really difficult balance for them to strike in many cases, especially the larger the organization, but it's one challenge we have been able to meet really effectively with some of our largest customers. caroline: mcafee ceo chris young. we thank you and wish you well in leading the business as a standalone. now, another update in a continuing story. alphabet's self driving car unit says uber is stonewalling in the company's dispute over stolen technology. says it is violating an order to turn over files from a former employee. says the company searched
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extensively for the allegedly stolen files, but has not been able to find them or any -- them. we will continue to bring you updates as this case unfolds. coming up, we take a look at africa's tech scene, focusing on homegrown tech solutions with mass appeal. that's next. this is bloomberg. ♪
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caroline: facebook continues to see user growth in africa, now reporting hundred 70 million users in that region -- reporting 170 million users in that region. by laying down nearly 500 miles of fiber optic cables in uganda and partnering with local wireless carriers to create wi-fi hotspots in nigeria and kenya.
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meantime, the number of startups receiving funding in africa rose 17% in 2016 year-over-year. we recently spoke with toby shapshak, longtime writer on africa's tech scene. areasted by asking what of technology are ripe for growth in africa. tob the weighty: i defined in the -- toby: the way i define innovation is, it's a way of solving a real problem. the problem with having so many problems in africa is that we have to solve them. key amongst those is energy, power. solar is a massive growth area as a vertical. so is thin tech -- fin-tech. the very poor need a way to transact that is frictionless, as cheap as possible to transfer money from one person to another person. you see remarkable innovations around allowing people to use their cell phones.
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they are not even smart. very basic feature phones to transfer money between them. then people start to save money. there is a whole knock on effect. solar, fin-tech, and mobile money have been some of the growth areas in most places in africa. caroline: i love your tedtalk. you mentioned problem solving is at its purest form in africa because of the amount of issues that the continent does face. does this mean the homegrown solutions are only applicable to homegrown problems? or can they truly go global? toby: if it works in africa, it's going to work anywhere. we have enormous challenges around power, internet connectivity. as soon as you get out of a big city or a big town, you're going
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to struggle. things that work in that kind of environment are going to work everywhere. there is a great kenyan startup that made a very rugged -- they found that people in villages in switzerland and france would have the same connectivity problems, and they would be using kenyan technology, african technology. so, too, do people in many harbors in asia struggle with internet connectivity. most dire ofthe circumstances with the least access to power and infrastructure. of cellbig manufacturer phone equipment says the same thing. they have learned how to make a cell phone network work in world nigeria. if they can work there, it can work in places in europe that have poor infrastructure, but need to provide access to the internet. caroline: so, the global options and ways and means of using
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these startups -- what about the money coming into these startups? can you give us a sense of scott -- size and scale in terms of funding and where it's from? toby: there's an enormous venture capital funding growth in africa. you can't swing a dead cell phone battery without hitting a vc somewhere, looking for an opportunity. a lot of the big international firms have opened offices out of -- some of them out of hong kong, some of them out of china, several of them out of the u.s. a behavioral economist has launched a fund of his own, spoke using -- of his own, focusing on africa. there are some south african funds, some african funds. there are very clever ones that use south africa's tax legislation to give people a bit
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of a tax break to invest in them. some of the big names are here, looking at startup competitions. singularity university ran something last year, looking for bright entrepreneurs who have clever ideas. it's not just been tech. the winner last year for singularity was someone working on a way of looking at aids problems using gene editing. because the problems are so severe, people need to find the solutions. obviously, with these kind of startups, there's lots of growth in terms of the venture capital that people will be able to provide. caroline: i think i read tech startups in africa raised $129 million in 2016. how exponential a growth is that? we are not talking billions here. toby: it's pretty stable on what growth was the year before. what we've seen is that the focus areas remain fin-tech, m
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obile, solar, health care. the key problems that need to be addressed. because of the kind of smaller market that's in africa and the problems with addressing them, i think the investment skills are going to be still quite -- investment scales are going to be still quite low, compared to other markets like europe or the u.s. when you convert dollars or euros into the south african rand or the kenyan shilling, you will have a much larger amount. the rent is 13 to the dollar at the moment -- the rand is 13 to the dollar at the moment. you can have a massive impact in the local currency. caroline: that was toby shapshak. programming note. thursday at one of our pm eastern, 6:00 p.m. london time, david gura will have the first -- thursday at 1:00 p.m. eastern, 6:00 p.m. london time,
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david gura will have the first interview with jack lew since he left his post as treasury secretary. and street professionals silicon valley are flocking to a fitness competition. how it plans to expand its event. this is bloomberg. ♪
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decathlonnow, a styled event with deep wall street ties is now in five markets, including san francisco. forddition to raising money charity, there is a tech component. users can place performance-based wagers on athletes. with us is jason kelly and david maloney. i have to ask, this tech element seems to be incentivizing a lot of cash being raised. tell us a little bit about the technology behind all of this? david: itcertainly --
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certainly will be more. the objective was how do you differentiate the fundraising experience of a competitive athletic event, so we developed some technology that would allow the athletes to set performance goals and then, rather than begging for donation, the public was able to place performance-based wager on it. essentially, you would aim -- you would elevate the drama on game day. you connect to the performances to the charitable outcomes. there's a lot riding on each of the performances. you're able to create one heck of a community, certainly a spectator experience. in new york, obviously, this is an area where the aggro investment banker or trader gets to show their stuff. who is it doing it in san francisco, the peace/e, -- the p/e guys? all of the above? david: from the macro level, the everyswers where does
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shotputter, linebacker go after they've hung up their cleats? we have these deep wall street ties. you see a lot of the p/e firms and hedge funds. that demographic is pervasive in tech. they are not all that different. in silicon valley, you get those companies and the employees really rallying the hind this type of contest. -- rallying behind this type of contest. caroline: perhaps what's different is the gender makeup. how many women are participating? discus,o be the long-distance running. are you trying to get more women in it? david: we are working from some great partners to bring the competitive female athlete which, let's face it, it's half the field should be women.
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we are seeing some great progress right now in getting those competitive soccer, la crosse, track and field female athletes that are just as competitive and just as philanthropic onto the field, and they can do these events really well. jason: you mentioned equinox. you are taking this into the boutique fitness arena, capitalizing on the fact that we are going to these high-end gyms. how does that work? david: equinox developed a training program that they are beta testing right now in their chicago and houston markets. the idea was to bring together their members to train them for or, essentially, the nfl combine. you are seeing a lot of traction. people want to test their athleticism in a lot of different ways. caroline: what about the amounts that are being raised, and how do you grow geographically?
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you go to the u.k., europe? david: to answer that question, we ask people to look at ironman. iron man very smartly not saturated the market. they have gone to banking centers, where you can bring together these incredibly strong, deep, and wealthy, connected communities. we are going to grow the same way we grew into four different last year.the u.s. we will deploy a national championship next year. when you grow into europe and asia, like iron man, you hit your strategic london, hong kong. you don't see a lot of divergence from the market. caroline: good luck with it. david maloney and jason kelly. ♪
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announcer: from our studios in new york city, this is "charlie rose." charlie: president trump will meet with chinese president xi mar-a-lagotrump's resorts this thursday and friday. it is their first meeting, an important step in u.s.-china relations. they are expected to drop address issues like global trade, one china policy, and climate change. .unning me is kevin rudd he was the prime minister of australia from 2007 to 2010 and again in 2013. he serves as the president of the

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