The Man Behind Pinterest: Bloomberg West (03/03)

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March 3 (Bloomberg) -- Full episode of "Bloomberg West." Guests: Pinterest CEO Ben Silbermann; Volvo VP of Electrical & Electronic Systems Engineering Thomas Muller; IDC Chief Research Officer Crawford Del Prete; Freshwire Founder and CEO Shawn Amos; Ticketfly CEO Andrew Dreskin and SV Angel Founder and General Partner Ron Conway. (Source: Bloomberg)

Live from pier three, welcome to "bloomberg west" where we covered the future of business.

He is the man behind pinterest.

He rarely speaks to the press but i said down with an elusive interview.

The latest on business and what he wants to teach the next generation of entrepreneurs.

Google no longer has to search for a private jet paradise.

Construction has started at a private terminal to be used mostly by google executives.

We will get to the stories and the moment.

The apple versus google android battle is now hitting the road.

Apple is releasing a new system this year.

Users plug their car into the car and they get a display.

This is going display that the geneva auto show.

It will be available in certain cars later this year.

This comes after google formed the open automotive alliance to bring android to your car.

At first i have to say that it is a great disappointment.

I just bought a for r reed.

-- a for ferrari.

This is the direction they have been going for some time with their plan direction of s iri.

Steve jobs'fondness for gadgets went as far as cars.

He would have a mercedes he would jive as well -- drive as well.

He would not put a license plate on it.

He is a car as well as a gadget died.

I think he realized what this might mean for vehicles.

Steve jobs did have a dream about revolutionizing automobiles as he had with smartphones.

Apple has been under a lot of pressure to innovate.

How innovative is this really?

One of the things in particular is interesting is that it has been a product that has gotten better and better over time.

It is certainly better than when it first came out here it it is a project that learned almost quite literally from its mistakes as alerts not just her own voice but the voices of millions and tens of millions of users of the product so that every query it is getting a little stronger.

This is a creek -- tricky thing to have.

There are different regulatory requirements then you would have with the phone.

One would hope this'll make the phone a little safer to use when you drive, not a further distraction.

Hang on.

For more on this plan to integrate your iphone into your car, i want to bring the head of research at ibc as well as thomas mueller joining us via skype.

Volvo is one of the companies working with apple on car play.

How long has this been in the works?

We have an office in california.

We are constantly in contact with the offices of other companies.

I would say a year-and-a-half ago we started serious talks with apple about this cooperation.

Tell me about how it will work.

It is not like the technology is replacing the technology you already have.

It is not embedded in the car.

It is certainly hooking it up to the dash.

You will always like the navigation systems and so on which we offer.

Then we will be able in the future to connect an iphone via the carplay and getting a complement to offer of accessing your smart phone and playing some of the applications which are coming with the smartphone.

This is territory that google is going after and microsoft and blackberry.

How would apple approach it differently than some of these other players?

Apple is approaching it, forgive the term, like in app- ification.

From a blackberry standpoint they purchased a company that has the operating system that the car is delivering and presenting to the driver.

This is a different approach.

I've not heard the word "exclusive." we are working at the preamble of this story.

I think you will see other suppliers trying to have their phone data presented to cars in the future.

It'll come down to a user preference issue.

It is not exclusive.

Can google or microsoft, blackberry, and so we want to do this, too?

There are two perspectives.

The perspective is the carmaker is to assure you have customers using a couple of different phone platforms.

We would like to have the possibility to offer every customer a similar experience.

It depends on how the different makers are doing the integration.

If i could toss this in.

It is also worth noting that apple had a lot of these relationships for a long time with the iphone.

There is a honda.

There is a phone book discovery system.

You can go through your phone book and find your contact and put them into the car navigation system.

These have worked together for some time.

This takes it to a whole another level.

How do you see the landscape shaping up when it comes to apple versus google versus microsoft versus blackberry?

Is anyone ahead?

Is it everyone's game?

We are at the beginning.

Apple is clearly ahead.

Google has been some interesting plays with companies like audi and others.

They have done a significant amount of work with these companies, apple.

When he thing about the ability to support different user tastes and the ability support -- to support different operating system, user preference will be huge.

What we're going to get to is that cars will support multiple environments through standard connections.

It will likely be wi-fi from what i am reading about this announcement.

This is something i think drivers have wanted for a very long time.

Why did it take so long to get to this point?

Why did it take so long to get to this deal with apple?

It all starts on the phone makers decided to find an interface which allows the car to remotely control the phone.

We are not just talking about rejecting what you see on your smart phone and have a read-only.

We are talking about the bidirectional interface which allows the driver to operate features which are on the phone and use the phone as a computer.

This interface needs to be well thought through.

It is in the hands of the phone producer to define this interface.

On the mutual investigations, i think we have found a very good and very compelling offer.

Final thought.

It is also interesting that we just saw video showing how this works.

They're opening this up to other apps as well.

It is an opportunity for other companies likes body spotify in others to offer different type of apps.

It is a new place for apple ios.

Thank you all for weighing in.

We will continue to follow this one as it develops.

Pinterest is one of the hottest social media sites around.

The ceo then silverman started a slew of other companies before finding the winning company.

Mice closes interview with sil bermann coming up.

? entrepreneurship is an important life skill, so important a nonprofit called "build" is working to tell inner-city children how to build businesses.

He shares his own words of wisdom where he was honored over the weekend.

He started no less than five companies that all failed before founding the online piboard side.

I saidstarted out by asking why he built it.

I've got the mission was really cool.

I think the idea of getting kids excited about entrepreneurship is a really good idea.

It is so applicable to real life.

Sometimes we'll can feel a little abstract and not connected to their day to day.

Why do you think it is important to teach kids entrepreneurial skills to get them to stay in school?

A lot is about trial and error.

It is really easy when you are a student to get discouraged or tell someone you're not smart enough or not meant for something.

Building the discipline of taking the criticism and keeping going is a really great thing, especially for high school kids to develop as early as they can.

People and technology have such diversion views on education.

Peter is trying to get them to skip college.

You actually graduated from college.

What is your view on how important going to colleges?

I do not know.

I think that for different kids it is probably different.

I do not know.

When i think about the world would look like if build was really successful and other kids could go through that might not other graduate and could choose whether to go to college, that seems better than having them get discouraged for whatever reason drop out of school.

Should they study engineering?

They should study what they are passionate about.

Engineering is a good one.

Sometimes i wish i had studied that myself.

You are running a multibillion-dollar tech company.

The discipline is so applicable not to so many things now.

It is the discipline of solving problems.

I think is a great deal to go into.

For the kids here, you are there idle.

What is your message.

Do not give up on what you want to do.

Do not let someone talk you out of your ambitions.

I always think that when you are a kid you put so much stock in what adults say good or bad.

Nobody, not an adult or a boss or a teacher, really knows what is in store for you except yourself.

Stick to that.

You'll probably end up doing really well.

Elon musk has had started a company is like staring into the abyss of death.

I have heard it compared to swallowing shards of broken glass.

What was it like for you?

What is your view on starting a company?

It is a long road.

I think most things in life that are worthwhile taking a while.

It is funny.

My parents are.

As.

both my sisters are.

As.

that is minimum and eight year commitment, often 12, just before you're ready to be the most junior doctor out there.

That is in the back of my mind.

I think it is a long road for a lot of folks.

If you are fun and you feel like you are learning, i think now is a great time to try it.

Was there a moment with pinterest were you said now i need to make sure i do not give up?

In the early days it took a little while for things to catch on.

There were a lot of times that you get a little bit discouraged.

For me what was really how -- was helpful was having people around me that i trusted and they cared about me first and the company second.

Folks like my girlfriend then and now my wife.

My cofounder.

Mentors and friends that were there to say it will be really great if you kept going.

Now you are managing hundreds of employees.

You have come such a long way.

What is your vision for what pinterest will become?

We think of pinterest as a visual discovery tool.

A way that people can get inspiration and plan things in their future.

We are trying to build toward that.

What is your favorite b oard?

I have a two-year-old.

I have all the activities that i want to do with him.

You are running a multibillion dollar company.

Is there a tough guy in there?

What is it about ben silbermann that we do not know that made you so successful?

The press love stories about loan entrepreneurs.

Single-handedly building things.

Almost everything that was great was built by a team of people.

I think that i've been only fortunate to be able to put together a really great team of people.

We all work together to try to build something great.

For the kids here, and they love tackle.

Is there anything out there other than pinterest?

What kind of things do you like?

What is not cool?

It is such an exciting time to download applications, to see what new things are on the web or a desktop.

Who are your idols?

So many folks.

You mentioned people like elon musk, they are amazing.

Literally making rockets and electric cars.

I really look up to other entrepreneurs like jack dorsey of square.

I look up to people that are more art than science as well.

Anyone that is trying to build things that may be worlds better.

I think it is really cool.

Specifically along this journey, who has given you the best advice?

What has the advice been?

I do not know.

One piece of advice i got was from kevin hart who founded event brite.

We were talking.

I said i know pinterest will not be a huge tech companies.

He said why not?

He said it could be.

I do not know.

I think that was a cool thing to say.

So many people give you reasons why something won't work.

He was saying but what if you imagine that would work and operate it that way.

I most painful for that advice.

Mice close of interview with pinterest ceo ben silbermann.

The company has raised 506 the 4000 million dollars to date.

-- 560,000 million dollars today.

Despite 21% of online users using it they do not make significant revenue yet.

They have been testing advertising.

They have set a goal to start making money this year.

We will see what happens.

More with "bloomberg west" after this break.

? ron conway has been called the godfather of silicon valley.

His rolodex is so big he can pretty much connect anyone to anyway from kanye west to larry page.

He was an early investor in google and twitter in one of the most active lancer pests.

I sat down with an exclusive interview with the dallas in san francisco -- with the gala in san francisco.

The root problem is around affordable housing and affordable affordability in general.

President obama talked about the gap in the state of the union speech.

In san francisco, we plan to do something about that.

Back to the techcrunch awards you call the company to do more.

-- companies to do more.

Tell me what you are asking companies to do.

In san francisco, which is basically the tech chamber of commerce, is organizing volunteer activities that tech companies can subscribe to and carry out.

And a lot of this is happening organically.

For example, foursquare, every friday about 80 square employees go around and pick up trash.

They call it clean sweep.

We are hoping be clean sweep spreads to other companies in san francisco.

I am sure that it will.

Ford gives 1% of their time and one percent of their profits and one percent of their equity throughh philanthropy.

I've asked a lot of ceos about your plan to put the out there.

Some say that is nice but our app is already helping people or one size does not fit all.

The mayor of san francisco is calling on all 1800 companies in go to adopt a 1--11-1. it is a model that companies can look at and pick which parts of the 1-1-1 they want to subscribe to.

I know you're close to the mayor.

What are you urging him to do?

The mayor has a seven-point plan to add 30,000 housing units in san francisco by 2020. that is a lofty goal.

He is going to work tirelessly to get us there.

If we get there, we will solve a huge keys of the gap that we have in affordable housing in san francisco.

Ed leeto get it done because he has been a city worker most of his life.

He knows the bureaucracy.

He knows that to get it done.

You are the most active investor in silicon valley.

Marc andreessen has caused you a human router or the godfather.

You can connect anyone from mark zuckerberg to ashton kutcher.

How'd did you do it?

How do you keep doing it?

You build relationships with people by getting involved in business, investing in a company together, and helping the entrepreneurs solve problems.

When you do that, you form lasting, lifelong partnerships and relationships.

I started my career in the semiconductor business.

Many of the people went to work at apple.

Then they went to work at software startups.

A lot of this old guard is still around.

They are helping launch the new economy.

Founder and general partner ron conway.

We will be right back with more "bloomberg west"." ? it is 26 minutes after the hour.

We are on the markets.

We are looking at fox continued to deteriorate.

The s&p is off the lows of the session and down by less than 1%. we are watching kroger and safeway.

Kroger is said to have approached safely about buying part of its operation.

We will be keeping our eyes on the headlines for you.

We are back "on the market" in 30 minutes.

? you are watching "bloomberg west"." marc andreessen is the ending his role on the ebay board after kara icon accused him of putting his self interests ahead of the ebay's. because of false and misleading.

He said he refused himself on all liberations.

He was part of the group of investors that acquired skype.

The clout companies is the first european datacenter will open in london in august.

It announced plans to build in france and germany.

It will open a new opportunity since many countries have stricter data protection requirements.

It is an oscar selfie for the record books.

Ellen degeneres gave her phone to ravi cooper who took a selfie at a star-studded group including julia roberts, brad pitt, jennifer lawrence, kevin spacey.

It has become the most retweeted tweet and twitter history, getting almost 2 million retweet in just three hours and timberlake disrupting twitter.

The phone --samson was a big sponsor of the oscars.

Will the product placement pay off?

The ceo from freshwater is with me.

His clients include that sicko and insurance -- pepsico.

And e-surance.

Ellen never said the word specifically.

How important was it for them?

That is the danger authenticity.

It is the best object placement i've seen.

Kudos.

She made it seem like it was not a paid thing at all.

The danger is samson was not mentioned.

Now samsung have to let everyone know that the most tweeted photo was on their phone.

How much do you imagine samson paid for this?

All of it combined, the commercials, product placement.

They are charging 1.8 million per add-on the oscars.

They bought five ads plus integration.

Barb and discount maybe?

Five million bucks easily?

Do you think they had to pay additional for that photo to be taken with the samsung galaxy?

I ensure that is part integration.

They also got a little bit of an unexpected treat or ellen degeneres was tweeting selfies from her iphone backstage.

It was a mixed bag overall.

Question.

Was it worth it for samsung?

Yap.

Yes -- yes.

The oscars have the second-biggest audience next to the super bowl.

If you want to capture a big audience and do it in a way that is authentic, you wanted.

I would like to see the grammys take a page from them.

It was very real and natural.

They're still number 22 apple.

Ill have to get people to use their phone -- they will have to get people to use their phones backstage and onstage.

Was at a loss for apple?

Apple does not usually sponsored these kind of event.

There was an ipad commercial.

Is it a mistake for apple to not be more aggressive?

Apple has always played a different came.

They will continue to play a different game.

They are still number one.

They will do things that feel natural to them and do not feel like they're capitalizing on trends as much as setting new trends.

I do not think anyone is scratching their heads at apple wondering how they can integrate into next year's oscars?

How about the social media integration?

Ellen mentioned twitter quite a few times and then came back on stage and said twitter said it is the most retweeted tweet ever.

Gold for twitter, right?

There is a scene today that mentioned it.

This is the price of authenticity.

If allen had sent that tweet and said look at this great selfie on my new samson -- if alan had said look at this great selfie on my new samsung phone, it would not have worked.

Alan and the staff at the oscars and other realized it was not the way to go.

I fully support the strategy.

In the short run it is a big run for twitter.

Twitter runs -- wins every day anyway.

I feel like the story out of the super bowl every year is that it was about twitter.

Is the way it is going to be from now on?

I think so.

Twitter is like the department of water and power.

They are the utility that makes the stuff happen and connects us together.

I think they will win no matter what.

The challenge for brands is how do they operate on these pipelines and make it seem like they have a natural place in this universe and not some kind of tracy forced place at the table?

Twitter digg go down for a time which is very frustrating.

We are trying to refresh the feed.

How big of a problem is that?

Is that a flip -- flute or do they need to be better prepared for these kind of a events?

It is the equivalent of a bank storm surge.

You prepare as best as you can.

Things happen.

This is a very volatile environments.

Things happen.

That tweet has nearly 3 million right now.

They won.

Everyone won.

Samsung move the bar forward as for the duration in a stylish way.

Ellen degeneres is a big social media queen appeared everyone is a winner.

Such an awesome moment there from the oscars.

I thought she did pretty good.

What do you think?

I letter.

Pepsico was a sponsor.

The pizza boxes have coca-cola logos on them.

Pepsi may not be so happy either.

I like her spontaneity and vibe.

Great to see you.

Thank you so much for joining us.

More executive shakeup at microsoft.

We are going to talk about the changes and what they might mean or the new ceo will me come back.

? welcome back to "bloomberg west"." satya nadella is shuffling management and effort to reignite growth here at he is putting former political operative mark penn in the role of chief strategy officer.

It is the most expensive for nadella yet.

Cory johnson is in new york.

With me here is ari leavy.

Who is mark penn?

A longtime political strategist.

He was a ceo of a pr firm.

A big global pr firm.

A longtime friend of the clintons.

Worked on hillary's campaign, and failed campaign in 2008. he was brought on at microsoft to help a strategy which is the rock term that can mean anything.

He is best known for do not get screwled campaign.

Does he have what it takes to refocus microsoft's business strategy?

It has been important to microsoft.

That guides it how to market and tell the message.

You could see this in the shakeup that this is something they really wanted to get right and do it the way that satya nadella want it done.

Some of the biggest names we have become familiar are on the chopping block.

What do you think of some of the big departures?

It seems pretty evident it is linked to the whole services.

He was one of the finalists.

He was a big name.

He was a longtime cisco executive eric he was a ceo of skype.

-- cisco executive.

He was a ceo of skype.

They could be something else.

Regardless, if he is someone that you were considering as a ceo and he is leaving the company, that has to be considered a significant loss.

I know this is somewhere in, tammy, that you have interviewed really recently.

She was one of the people that had a notion on how to market the project.

If you're going to elevate him to wear some level he will oversee this.

Maybe he had disagreements or how it would happen.

We do not know.

They're making some choices about how they will tell the story going forward and with who will do that.

Clearly that will not be there anymore.

With whom?

Is a second language.

I'm not good.

A lot of things are second language to you.

Are there more executive departures to come?

Can we expect that?

It is hard to say.

It was sent to reason that there would be more.

It stands to reason that they would bring people in.

The shuffle is probably not done.

He has a job to do.

We would be expecting this would be a foot.

Thank you.

Turning now to google.

The san jose airport is outfitting itself to get ready for google executive private jet to take off.

They just wrote ground on this project.

They're expected to come in two years.

Jon erlichman need -- jon erlichman joins me now with how they are getting their airport.

. they have a lot of airplanes.

They are reporting that this has been common for them to have as many as a dozen planes in their possession.

This is next to the san jose airport.

It is available for a ride airfield to be built.

Not that they are going to be any airfields.

They are going to have the lion share of the space.

They are in charge of running this.

Here's what he had to say about it.

A lot of them cannot be based in the bay area.

This is a good thing.

They will get this together.

It can cost upward of 15,000 or 20,000 bucks a month per plane to park your planes in these kind of facilities.

I wonder how the people around there feel about airport that is basically catering to google onion are millionaires.

Whatever.

There are concerns.

In the early part of this process, there were concerns.

The blue ones you know how many would be flying despite there is an airport -- they already wanted to know how many would be flying despite there is an airport next door.

Economic growth is beneficial to everybody.

We are talking about investment and jobs.

The rest on the objections.

They have to feel by comparison to the greater good.

Now that they have gone through the groundbreaking, the goal is to get it billed by the end of 2015. the 49ers are moving into their new stadium.

There is a super bowl plans for that stadium.

It may work out for any spots to park their plane.

Jon erlichman, thank you.

According to glass store, silicon valley interns make more than $75,000 a year.

I doubt which tech titans are paying the most common next.

You can watch it streaming on your tablet, phone, apple tv as well.

? welcome back to "bloomberg west"." technology shift their radically -- should theoretically make buying tickets online easier.

Scammers are buying up blocks of tickets and then reselling them.

That has created room for new start ups like to get based in san francisco.

Cory johnson has more for that.

It competes with the likes of step up and ticketmaster.

It is tools for sales and analytics to help event banners and venues doing events like burning man in the austin city limits festival.

Tell me about where there is room for innovation in your sector.

Sure.

There's tremendous room in the ticketing sect there.

To get -- sector.

Ticket sellers have not historically had had tools to help them get more tickets.

Ticket sellers today are offering better technology for the venues.

Traditional ticket sellers traditionally just offer ticketing software.

Today they offer website tools, it e-mail, marketing tools, social tools, analytics, crm, that sort of thing which helps them to sell more tickets more effectively.

Talk to me specifically about that.

Take an event like burning man.

What kind of information are you offering the promoters of burning man.

What kind of things did they want to know?

Burning man may not be a fantastic example.

A burning man tickets sell rather quickly.

We recently sold 30,000 tickets in a matter of 44 minutes.

I will say that it was very gratifying to see the feedback on social media about how the ticket selling process was more fluid than historically.

For other event promoters, the ticket buyer has been rather opaque.

Then use the promoters have had not get access to who these event knowers are.

There are maven to go to tons of shows who are prolific users of social media.

Ticketfly helps the venues and promoters like that to better harness or channel those ticket sellers.

This whole thing with load balancing, do you see the behavior of the sellers of tickets who want to identify someone that they really wanted their show because they will have more of an impact on social media and offer the person to per ticket?

Absolutely.

We call them mavens.

We know they are users who are buying tons and tons of tickets.

We find that 30% of the users drive a tremendous portion of the ticket sales.

A big goal is to incentivize those people to continue with this fantastic behavior and report them for the positive behavior on social media.

Talk to me about market share.

Who are the leaders?

The dominant player is ticketmaster.

As i mentioned earlier, one difference between us and traditional ticket sellers, we tell them we are not a ticketing company.

We are a holistic ethnology solutions provider.

One thing we do is dictating -- ticketing and we do it quite well.

This is one difference between us and ticketmaster.

I think there is an opportunity for upstarts like ours to really eat into the market share of the incumbent providers.

Holistic technology.

I think you should add acupuncture.

Let me ask about concerts and the date shows.

Are these the festival tors.

Are these of increasing importance?

One is the festival market.

There are number of notable festivals which take place in the united states.

This has put its tickets on sale.

It has sold out.

It has a big acts like archive -- like arcade fire.

I there's no daft punk on this year's coachella's festival.

It is a heartbreaker.

I will be ok.

Thank you for your time.

We really appreciate it.

What a bummer for you.

I still haevve buble.

It is time for the bwest by.

What do you got?

$75,000. it shows that interns at the highest paid silicon valley company paid them 75 grand a year.

If they were to stay for a fear year.

What companies are we talking here?

You name it.

Some of the bigger names in technology.

Twitter, linkedin, facebook.

This is a recruiting tool, not so much actual taking of it as paid.

They want to get a little test i before they hired them.

When i was an intern i got paid nothing.

Nothing.

That was clearly a bad plan.

Maybe they will throw in some daft punk tickets.

Usually they do not get paid a lot.

You have to understand the silicon valley interns make amazing coffee.

Better than blue bottle.

That might be worth 6000 or 7000 bucks a month to some.

They probably just put the right amount of foam on top.

To be serious, the use of interns and their free labor is drawing further scrutiny, particularly in silicon valley were so much money is there to be made.

The high paid intern is the outlier.

That is perhaps while we are talking about appeared the unpaid, abuse intern ending the labor to these companies is maybe a more disconcerting story in silicon valley.

I do know a lot of interest that parlayed it into jobs.

It often does lead to more.

Thank you all for watching this addition of "bloomberg west"/." we will see tomorrow.

-- we'll see you tomorrow.

?

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

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