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00:00IT HAS BEEN INTERESTING TO WATCH THE GROWTH OF THE COMPANY AND SEE WHAT YOU ARE PUTTING OUT. IS A LIQUIDITY CRUNCH COMING? >> THERE IS FINDING OVER $1 BILLION AND GETTING PUT INTO THE MARKET. WHAT HAS HAPPENED LAST WEEK AND THIS WEEK, WE DO NOT SEE IT PLAYING OUT. THERE IS LOW ECONOMIC ACTIVITY AND YOU SEE A LOT OF PEOPLE ARE IN "WAIT AND SEE" MODE. EMILY CHANG: HOW MUCH CASH CRUNCH OF WE TALKING ABOUT? >> WE WILL SEE A BARB ELL EFFECT. COMPANIES GET A LITTLE BIT SMALLER. WE COULD BE TALKING ABOUT HUNDREDS OF MILLIONS OF DOLLARS NOT GETTING INVESTED. EMILY CHANG: WE ARE HEARING A LOT OF INVESTORS TALKING ABOUT PROFITS. WE TALKED TO A CEO WHO SAID WE ARE IN BUBBLES. THESE WILL GET HIT ONE IT PLAYS OUT. ON THE OTHER HAND, I SPOKE TO MARK AND HE IS OPTIMISTIC. HE IS NOT COMPLETELY ROSY EYED. BUT, HE IS LESS DIRE ABOUT WHAT IS COMING. >> THESE ARE STARTUPS AND THEY COULD WORK OUT WELL OR NOT. THEY WILL CONTINUE TO RAISE MONEY AND ENVIRONMENTS. TO ME, THAT DOES NOT TRANSLATE. EMILY CHANG: SO , THERE IS NOT A SENSE OF URGENCY AND THERE IS NO NEED FOR EVERYBODY TO PANIC. WHAT DO YOU THINK? >> A LOT OF THINGS KILL STARTUPS. THE WRONG MARKET, THE WRONG HIGHER, THE WRONG TEAM, NOT HITTING A MILESTONE. IF WE ARE PANICKING, IT IS ALL THE TIME AND IT IS ALWAYS HARD. THIS IS ANOTHER FACTOR WE CANNOT CONTROL THAT WE MUST CONSIDER. EMILY CHANG: YOU HELPED ME OUT WITH THE DATA THAT SHOWS PRIVATE VERSUS PUBLIC CAPITAL. EXPLAIN WHAT WE ARE SEEING HERE. >> THE PEOPLE WHO ARE BULLISH ON THE MARKET ARE ALSO BULLISH ON PUTTING IT IN STARTUPS. THIS IS A GOOD PLACE TO CHASE. >> HOW MANY ARE THERE? OVER 100 >> IT IS NOT ENTIRELY FAIR. >> HOW MANY WILL SURVIVE? >> ABOUT A THIRD. EMILY CHANG: WHAT DETERMINES WHETHER OR NOT THEY MAKE IT? >> THE MARKET DOES NOT SEE PROFITS. THEY SEE GROWTH. THEY WILL CONTINUE TO GET REVENUE. EMILY CHANG: I WANT TO TURN TO UBER, WHO ARE FACING A CLASS ACTION LAWSUIT. THIS IS ANOTHER TWIST IN THE TUSSLE BETWEEN THEM. THEY SAY THEY ARE NOT SURPRISED BY THIS. INDEED, ONE OF THE THREE MAIN PLAINTIFFS WILL NOT QUALIFY. THEY WILL APPEAL THE DECISION AND THERE IS NO TYPICAL DRIVER, 18 QUESTION AT ISSUE. HOW BIG OF AN ISSUE IS THIS? >> THERE ARE OTHER PROMS TO OVERCOME THAN LEGAL ISSUES. IT IS NOT GREAT FOR THEM WHEN THE MARKETS ARE RUSSIAN AND WHETHER THEY SHOULD GO PUBLIC OR NOT. OVERALL, THEY ARE GROWING SO FAST THAT IT SEEMS LIKE A THING THEY WANT TO ENSURE. EMILY CHANG: WHEN IT COMES TO UBER, HOW DOES THE SHAKEOUT PLAY OUT? >> THE BIG THING IS, IF YOU NEED CAPITAL, IS THERE ANOTHER INVESTOR WHO WILL GIVE YOU A BIGGER CHECK? AT SOME POINT, THAT STOPS HAPPENING AND COMPANIES NEED TO GO PUBLIC. THAT IS THE INVESTOR WHO GOES THE FULL MARKET PRICE. AT SOME POINT, YOU REACH A CEILING AND SOME PEOPLE WONDER IF UBER IS THERE. EMILY CHANG: THANK YOU FOR

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