IfOnly CEO: SF Market Definitely in a Bubble

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May 2 (Bloomberg) -- Trevor Traina, founder and CEO of IfOnly, discusses the company's high-end charity services and how tech can address inequality with Emily Chang on Bloomberg Television's "Bloomberg West." IfOnly is part of Salesfoce CEO Marc Benioff's "SF Gives" initiative. (Source: Bloomberg)

Before this.

All here in san francisco.

How did you come up with the idea for ifonly?

There are so many great stores where you can buy things calmly -- things, but more and more people one experiences.

They want to share stuff and give experiences.

I thought, why not build a great store for experiences rather than things.

By experiences, what do you mean?

They are from $30 to billions of dollars, cooking with famous chefs, seeing called wineries from the inside, -- cult wineries from the inside, maybe just meeting the band after the concert.

If we do not have it on ifonly.com, we will design it for you.

Tennis with andre agassi?

That's right.

And steffi graf.

A penthouse at the bellagio.

You also have mother's day stuff coming up.

We have the coolest mother's day's gifts, from sheryl sandberg's hand signed books to cooking lessons for mom with well-known chefs.

I have a whole team of people, and their whole job is to ask our consumers, what would you like to do?

What would your friends like to do?

What would your family like to do?

We go out and design these experiences.

If we do not have them, people will call us and say, create a perfect birthday or gift and we will do it for them.

The business is for profit but you give a large portion to charity?

About $.70 on the dollar we collect goes to charity.

We take a fee on top.

It's a great thing.

If people want to check out ifonly.com, there's a code, bloomberg, that your viewers can use to register.

You have been watching what is going on with the inequality debate in san francisco.

Your family is well established in san francisco.

What has been going through your mind as you have been seeing the tensions simmer?

There is a lot of new affluence in the city, and it's very understandable that can create resentment, and also that people on the margin get edged out.

That is why ifonly, at the urging of our investor, has joined sf gives, the new initiative to raise awareness through tipping point, the wonderful charitable organization, to give back to san francisco and make it a better place for everyone.

He has been outspoken against the google buses, the shuttle buses that take employees from the city to silicon valley.

Do you think things like that are unfair?

Do you think things like that are important and need to stay?

Mark is an investor, a dear friend, and hero of mine for everything he does to give back to this community.

Quietly, i would add red these -- add.

These are legitimate debates.

The buses seem unfair, but taking thousands of cars off the road is good for the environment and traffic.

I am a fifth-generation san franciscan.

Sometimes i watch these arguments, and it is someone from maine yelling at someone from cleveland about how they're changing san francisco.

That being said, there are serious issues at play here.

Do you think tom perkins and the issues surrounding that and the comments he made took it to an unnecessary level?

Tom is a brilliant guy, and i think he means really well.

The way he said what he said was very inappropriate.

And very misconstrued.

I think it was important just because there should be debate about what's going on here, and there is a healthy debate.

And a lot of tech people are really concerned about making the city better.

They are very aware of poverty, and they want to do more, particularly through tipping point, they are doing more.

What do you think the responsibility is of the tech arena?

Our companies -- are companies doing enough to give back or should they not have to focus on that?

Everyone needs to think about giving back.

Ifonly supports 150 charities read -- charitiers.

Look at salesforce.

There model drives profits into nonprofits and they send their workforce into the community.

Everyone should care about it.

Twitter went to the worst section of san francisco, put their headquarters there, and in a couple of years i have been amazed by the blossoming of the neighborhood.

I hope it will continue.

They did get a tax break.

They did not do it for nothing.

Because of that, is there some greater responsibility?

I have built a number of companies here, and that tax we talk about is actually counterproductive.

It is saying, for every new job you created, we will tax you more.

When you are small and don't have a lot of funding and you're trying to get people, that is a disincentive.

I think the tax should be construed differently, because we want more jobs here.

Starting a company is hard.

You have been an entrepreneur five times over.

Do you think entrepreneurs need to think about this at the beginning, or do they think about this when they have got to a point where they feel more comfortable?

Or should it be baked in from the start?

The way it has been happening is that people graduate from school, they spent 24 hours a day working, they do not think about anything, they do not go out -- they build and build, and one day they are successful and they look around and think, maybe now i can help.

From the point of view of these engineers, that is all there focused on.

More and more in business schools and conversations, we are talking about, let's set these companies up from the get-go like ifonly so they are doing good all along the way.

The cost of living is rising in the city.

There's talk of bubble valuations that are rising.

Do you think this is a phase?

Do you think it's a bubble?

Do you think this will pass?

We are definitely in a bubble, but this is different from the last bubble.

There's a lot more platforms and technologies people are building on.

It's a lot more real.

Cycles come and go and prices come up and down again.

The city is becoming more expensive and built out.

We need to do more to help those who cannot afford it.

Trevor traina, founder of ifonly.

Coming up, and oscar winner is

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

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