China's Third Richest Man: Bill Gates Is My Model

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Oct. 29 (Bloomberg) -- Bloomberg West's Emily Chang sits down for an exclusive interview with Baidu's Robin Li, China's third richest man, about the launch of Baidu and his role model, Bill Gates. (Source: Bloomberg)

You are watching "bloomberg west" where we focus on technology and the future of business.

I am emily chang.

It has been fixed.

The website is back off.

The glitch happened at a site that was operated by verizon.

Amc network is buying chellomedia from liberty global for over $1 billion.

It is the international content division.

It distributes television channels to over 130 countries.

Amc said it would have a more outlets.

There is video of another -- on fire.

The electric carmaker said the driver was not hurt.

It caught fire in mexico.

A few weeks at a tesla caught fire outside of seattle was a federal investigator said there is no evidence the rate any defects.

We turn now to baidu.

The world's 5th most visited website.

How much does the rest of the world actually know about the google of china?

China is home to one of the fastest-growing economies in 170 3 billion dollar tech industry.

Some 600 million users are online and what of the most popular websites is by doing.

Known to the rest of the world as the google of china.

Founded in 2000 five -- 2005, it is the number one search engine and china.

It went public on the shares jumped on opening day.

It is now worth $50 billion.

It has takeover offers from yahoo!

And google.

Baidu has been a great growth story.

It is really well-positioned to benefit from the chinese internet market.

Baidu as following its users are from desktop to mobile.

In july, they strengthened to smartphones and tablets with a deal to buy the chinese app store.

The most expensive acquisition ever announced by a chinese tech company.

One of the few websites bigger than baidu is facebook.

Over the years, robin li has become friends with mark zuckerberg.

Was recommended first trip to china in 20 10, 1 of its first thought was baidu headquarters.

Facebook remains blocked.

There are reports that the social network could enter the country with a joint venture with baidu.

The social networks have grown so big in the meantime that robin li said it is too late.

For more on baidu, i sat down with the ceo and founder robin li in a rare and exclusive interview.

And part one, we talk about the company's early days.

I asked how hard it was to turn down billion dollar acquisition offers from google and microsoft and yahoo!. it was not easy.

Because of the early days before we went public, we had investors.

They were basic -- they were based in the u.s. investors.

They admired the large tech giants here.

When there's a possibility to cash out at a price higher than they had expected, i would ask them to think about it.

For me, i really knew that we had a much brighter future than most people had thought about.

I tried very hard to convince my investors.

I will make a better returns for you.

It is not just about my ego.

Not just the future of the company.

I had to tell them in a way that can be beneficial to them and the best way to be beneficial is to make more money for you.

You came up with the idea of search and silicon valley in the 1990's at the same time that the google founders were, go with google separately.

Eyecolor link analysis.

-- i call it a link analysis.

The idea before i came to silicon valley.

I work in new jersey.

Later on in this kind of technology became the gold standard for all the search engines.

You where educated partially in the united states.

After you graduate you bought a biography about bill gates.

Is there a person or company that really inspired you along the way, somebody you look most up to?

I would say bill gates is probably the only person who stop at that time thomas i was an engineer.

I studied computer science.

Microsoft was the most powerful technology company, software company at the time.

His story was widely reported back in china.

When i came to this country for the first couple of years, i tried really hard to become familiar and getting good grades.

After graduation, i realized it was time for me to get to know more about a resource -- entrepreneurs to know more about the opportunities that america can provide for software engineers like me without bill gates was obviously a role model for that.

Why not stay in the united states, why move back to china?

I doubt about it.

-- i thought about it.

If there were good opportunities here, i would've stayed here.

For the first two years after graduation, i live in new jersey.

At that time, i thought started my own company.

To be safe i wanted to work for a company for a few years and make money so that if i start my own company without any income for a few years, i can still live.

An insurance policy?

Exactly.

I wanted to get a green card so i could legally work here for a very long time.

I worked for a company for quite a few years.

Then i realized that in the east coast does not approach technology that much.

No, they think the most valuable people are the reporters and financial experts.

Those kind of people.

I really had a passion on technology.

I tried to convince my boss to do search engine at that time.

They pout and is not our business.

We cannot do that.

-- they thought that is not our business.

It was also not that easy to find capital on the east coast in new jersey.

In the summer of 1997, i decided to move to silicon valley.

At that time, that was the good search engine.

I really loved the feeling that i could contribute to search technology and the moment you knew something could be beneficial to tens of millions of people.

In the early days, your wife was instrumental to giving you the nudge to go for it.

Yes.

During the late 1990s internet bubble, i was an engineer.

My wife knew i had very good technology and i could do things a lot better.

She asked me if i go find a company that is better than -- you will find the next ebay.

I thought about it and maybe a better way to do that is to find a company by myself instead of finding the netanyahu or ebay -- the next yahoo!

Or ebay.

I said i am going to start my own company.

I look for all kinds of opportunities.

That was baidu ceo robin li.

The short to watch bloomberg west -- be sure to watch bloomberg west all week.

Tomorrow we will talk by apple strategy and china and white market share there is slipping and whether the iphone has lost its core.

To lebron james and rapper jay- z. another big partnership deal.

Details next.

? i am emily chang.

This is "bloomberg west." apple, google, and other tech giants have a developer conference.

Why not a samsung?

They began their first in san francisco.

They said at 1300 developers are there for the first day of the three day conference.

So far high buys include five new software developers for devices ranging from smartphones to smart tvs.

Samsung has inked a multiyear deal to supply the national basketball association with mobile devices and televisions without referees will use tablets to review key plate.

Jon erlichman has the story from l.a. how much is the deal worth?

Reportedly 100 million dollars.

The leak is not talking about it.

To see some sub doing some -- outspending apple when it comes to marketing.

The relationship between samsung and the nba was a strong one.

It was very common to see samsung advertisement when watching a game.

It takes it to the next step.

As an official partner, you can have your name when there are specific games or activities going on.

On top of that, you highlight the fact that referees can be reviewing all caps is.

What we have learned in this cycle of device sellers is just because you slap your brand on a halftime report or whatever does not necessarily mean that people are going to buy your devices.

About the troubles blackberry have gone through.

There were spending a lot of money tied to sports.

Some sangha looking to get people using its products at the same time that you are seeing the signage.

That seems to be the end goal for them.

Earlier this year, they signed to jay-z to an endorsement deal.

As a part of their cool factor plan?

We are the next big thing?

Right.

It feels that way.

Certainly, when people think about the nba they think about younger.

You want to be able to get there early devices.

You get the idea here.

On top of just having some high level celebrities who have their cool factor whether lebron james or jay-z or seth rogen.

It is about content.

This deal includes share certain highlights, additional analysis.

Maybe it will not be unique enough.

You see samsung cutting new content deals.

It is very important as a selling feature for any hardware manufacturer these days something used loosely find it through our devices.

Jon erlichman foot up thank you.

When you inc.

Of a space satellite, you usually think of a large object orbiting through space.

That will soon change thanks to one company.

Phonestat is looking to turning cell phones into makeshift satellites.

Ashley traveled to the nasa research center in mountain view to get a closer look.

Most people would think of a satellite as enormous.

As electronics are getting better and cheaper, and the facilities and we have a team of guys in this lab working on the satellites.

Extremely simple satellites.

They are very easy to infiltrate.

Our people have been basically doing satellites a getting them up into space.

Maybe since 2009, it was a pretty sketchy idea.

You can do something and make a statement.

Really saying, we have done something -- [indiscernible] we have commercial companies going into space.

You have -- we hitchhike.

We have technology demonstrations.

The definition is 10 centimeters.

We have a body case.

It connects to one font.

Wire and cables and a radio.

It basically turns on and off.

It keeps alive for how long, 10 days?

We have a mainframe computer -- we are essentially what would have been a mainframe computer 40 years ago.

We are leveraging millions of dollars that companies are investing into tiny fonts will stop we can use them in space.

-- tiny fonts -- phones.

Inside the grocery store that grows its own produce.

You can watch as are your tablet and bloomberg.com.

? welcome back.

This is "bloomberg west." using cash or early edition -- you can catch our early edition at 10:00 a.m. eastern beating the planet.

Explored how innovation and sustainability can produce enough food for a growing population.

Today's innovation is a twist on locally sourced stores.

We love our food.

Can we say we have a connection to it?

That is worthy farmery comes.

He uploaded his id.

To planet forward.

I see have the land is for agriculture.

It makes me think of the complex journey that food has to take from the skills to the retail store shelves.

Green out of the way to cut out the journey by growing food inside of the store.

The opportunity for us is huge because supermarkets sell this incredibly intimate private in a stale, boring environment.

It came together when tyler joined the team.

I was living and working in hawaii growing endangered species for the united states army.

But he found a green's work online.

The original idea is a little out there to use hydroponic tubes.

The future of full-sized retail space with a cafe and interactive grocery experience.

They can pick different salad greens, strawberries fresh.

He is in the process of scaling up and start up to a full-service store 70 times a bit.

He will either raise fish.

They cannot grow themselves, they will get from local growers.

The core of the business plan is connect customers to their food.

And to the people who grow it.

We are flipping the grocery model on its head.

A set of being a place that supplies it, to celebrate the identity by selling this food.

Of bringing the farm to the customer.

A fun way to feed the planet.

Joining me now is frank sesno.

How is this company setting up for the future?

We know, is like amazon are claiming to make it easier than ever to get groceries delivered to your door.

This a little different.

They want to take you to where the stuff is growing in the store.

They wanted revenue to come from the food they are growing in the store.

They hope to open next year.

They are talking to four cities.

They already have a component online.

You can buy the living wall.

You can have in your house.

You can grab the lead is right there in your living room.

-- you can grow the let is a writer there your living room.

It will be boutique and stuff.

This is going to be the stuff that goes for a niche audience in the united states in the developed world.

This was will be having at feeding the plants summit.

Going to the website and see it.

Web watch parties.

People can stream it.

-- we will have watch parties.

It is innovative.

One of many ideas.

This food thing is hot.

We have about two percent of the population in this country involved in agriculture.

Everybody is a foodie.

A lot of potential out there.

Was i do like my food.

Thank you so much.

If you have an idea you would like to submit, visit plante etforward.com.

It is time for bwest byte.

Jon has the bite.

99 million.

The number of people visiting the apple store in the fourth quarter, the three-month stretch . 4.5 billion dollars in revenue for the company.

The average store generated $10 billion.

They do not sell food there or let us -- lettuce but they could.

Obviously arming themselves for a busy holiday season.

That's their secret weapon.

Tim cook did say he thinks this christmas is on -- is going to be the ipad christmas.

Thank you for watching.

We'll see you back here tomorrow.

?

This text has been automatically generated. It may not be 100% accurate.

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