Death of their ceo in may. Hp executive, former hp executive bill veghte takes over , as ceo on august 3. He served as chief strategy and operating officer at hp after spending 20 years at microsoft. Facebook coo Sheryl Sandberg also joined the board saying she hopes to realize her late husbands vision. What does it all mean for surveymonkeys future . Bill joins me from palo alto. Thanks for joining me. I know this is bittersweet for you. You and david go back for 30 years. I know that he was going to name you to the companys board the week that he died. I would love to hear more about your relationship with him. Bill thanks emily. Dave was an amazing person. A special person and a great friend over 30 years. As you know dave well, you know he is a person that has passion for people and ideas. I remember when he first discovered surveymonkey, he said bill, i found this great company. Its a beautiful business that has so much potential in front of it. As you highlighted, its a very smart person and a relentless evangelist. I agreed to join the board and was looking forward to help him and the rest of the Board Members build out what i think is a really remarkable opportunity. Emily i understand they considered 75 candidates in and outside silicon valley. What was the recruitment process like, and when and why did you consider this position . Bill kudos to the board. This is a very difficult situation, and they went through a very disciplined and focused process to make sure they got the right person for the job. It was something they knew, the relationship i had discussions with them as i was joining the board. Shortly after his death, we discussed the possibility of me considering being a candidate for the job. I went through the process just like everybody else. Emily Sheryl Sandberg also joining the board. We know that dave and sheryl were True Partners and she wants , to help realize daves vision. She says the Common Thread in your work and feel skill in working with teams to increase the reach of global and great businesses. How influential do you see sheryl in helping shape the future of surveymonkey . Bill sheryl, as you know well is an absolutely amazing person and gifted business leader. It would be a to have her and david on the board as counselors and advisors and Board Members as we pursue the opportunity embedded within surveymonkey. Emily dave was on her show many many times. He spoke about wanting to go public, but was waiting for the right time. Take a listen to what he told us. Dave we know there is a lot of cost in terms of, not going public, but being public in terms of how you manage your business on a quarterly basis versus making greater longterm investment. When those benefits outweigh those costs, we will go public. Emily do you plan to take surveymonkey public, bill . And what is your timeline . Bill i think that daves comments, were as always perfect and eloquently stated. [laughter] emily okay, how about this he was beloved by so many in silicon valley, and especially his employees. There were strong internal candidates for the job. How do you balance realizing his vision and also realizing yours and what is that vision . Bill what attracted dave to surveymonkey and what caused me to fall in love with the company is the fact that what he has grown it into his the World Leaders Online Survey company. What that gives companies and individuals the opportunity is to have a more economic and more intimate conversation with customers, with the constituencies they serve. The opportunity is to go from an Online Survey company to an insight platform. And insight platform that can accelerate and provide a much better framework for people, whether it is individuals or organizations, to make better decisions. As you discussed with dave on your show, you could see the shift already. With benchmarks, its great to have a net promoter score. But its much more interesting when you have a net motor score that you can compare to other companies. Other companies in similar verticals. What they were doing with salesforce. Com, since they were surveying customers on the basis of the outcomes of the surveys they translated that directly into a sales opportunity, and thus a sales result. What surveymonkey can do is go from an Online Survey company to an Online Platform and fundamentally help individuals and companies have a much more efficient dialogue with their most important constituency, which is their customer. Emily whats the first thing you plan to do, bill, when you take over in august . Bill the first thing i plan to do is listen. This is a company that had a tragic event that forced a leadership change. But it is doing so many things well, and my job is to amplify and support the things that they are doing well. And as opportunities present themselves, help them as a partner and servant leader to accelerate their growth and the opportunities in front of us. Emily bill, you have a big shoes to fill, but it is exciting to have you on board. We will be following you as you take this on. Incoming surveymonkey ceo bill veghte, thanks so much. Bill thanks, emily. Emily a story we are watching. Citigroup is betting on the bitcoin bandwagon, sort of. They developed their own crypto currency called citicoin. They created three separate block coins for tests. Block chains for tests. These are considered a way to eventually simplify crossborder transactions. Now to the crisis in greece. Despite capital controls, one happens based startup managed to raise 4 million. The Software Company raised funds. The company focuses on delivering localized contest for content for businesses and expects to double the Engineering Team in greece by the end of the year. Other startups not so lucky. Many are using prepaid american credit cards to pay their bills. They skirted the challenge by recently relocating its headquarters to fit silicon valley. Coming up, what the worlds biggest electronic maker needs to do to turn itself around. Well talk about what is next for samsung. And what its like to snap a go pro onto a great white shark. Will talk about this shark week. Emily a story we are watching investors fleeing from all things china, even in the u. S. China stocks plunging the most in four years. At one point, alibaba tumbled. Its lowest since its ipo. Both rebounded, but closed significantly lower. Behind the selloff, worries about the health of the chinese market. Beijing has been trying a handful of options to try and stop a selling spree that has so far wiped 3. 2 joined dollars in trillion dollars in value from Mainland China stocks. Samsung taking a slide. Company guidance shows another miss. The seventh quarterly profit drop with operating income down 4 . Smartphone sales are mostly to blame. There were expectations the essex and essex and would learn some people await s6 would lower people away from apple but it has not happened otherwise. Here to talk more is bob odonnell and Korea Economic Institute senior director. I will start with you this is happening with samsung again and again. Is it all because they overshot demand for the galaxy s6 . No, with this reflects is that samsung is at the end of many business trends. Smartphone trends. They were the first of, with big screens smartphones, which is now the standard. Unfortunately, they are starting to be the first to suffer from the fact that the market is getting pretty saturated. Emily right. Thats what we are starting to see reflected here. As people buy these larger phones and we move away from being subsidized, people are going to be buying big phones, hold onto them longer, which will slow down a demand. I think samsung is the leading edge of the trend. Emily how much did they overshoot demand for the s6 . They were expecting what, four times, when they got as much as the same . They were expecting galaxy s6 to sell four for every one of the galaxy 6 edge. There was a much greater demand for the edge, but they do not have the production in place. To meet that demand. There are hoping to have a factory online in the next couple of months, but right now they are not even able to keep up with demand for the more popular products. Emily you think the Smartphone Market will peak. I do. I think the Worldwide Market peaks around 2017, 2018. The u. S. Market peaks this year. The thing to remember it a lot of the growth that is Still Available is on the really low end in china, india, and a lot of these developing markets. Samsung has done ok there, but that is where european where you see people like xiaomi and micromax having much more success. Emily and they are doing it cheaper. Thats exactly right. Emily samsung if the Smartphone Market is going to peak isnt apple going to feel , the pinch too . Not necessarily. Apple basically in many ways, is , a fashion item and a luxury good. At the height of the market, apple is able to maintain its margins. That is a challenge samsung faces. Samsung is squeezed with apple the top and xiaomi and micromax at the bottom. It doesnt have the same electricity elasticity or the cachet of smartphone. Emily i want to talk more about the apparent heir at samsung. How optimistic are you for him turning around this company . Bob i think its a challenge. They are very interesting to look at. You have all these different pieces of companies, that when you see them sidebyside, they almost dont act like part of the same company. But at the very top of the chain, where the lee family is presiding over things, they do have a lot of control. That structure in korea has served them very well. I think we will continue to see it. But there is a long term question, can they maintain that . That remains to be seen. Emily and samsung directs so many different businesses. Troy, you have a interesting three about where jay lee could take this company next . Troy he is in essence looking at what it takes to make prego produce microchips that samsung does. That is the same type of environment you need for base products for pharmaceuticals. He is hoping not to move into pharmaceuticals in terms of being an Innovative Company with new medicines, but providing all of the products pharmaceutical Companies Need to make their medicines. Especially as we move into biotech eras, this could be a growing aspect for samsung in the future. Emily interesting is that a company that makes chips would be a good fit to make ingredients for drugs. Always good to have you both on the show, thanks so much for stopping by. Sharks the beachgoers worst nightmare, of course. In north carolina, there have been eight shark attacks in just the last month. But on the Discovery Network sharks are the stars of this week. We talked about the perils of shooting these sharp toothed creatures. For me, the two coolest things about my jobs are the sharks, the cameras, and all the technology involved. Especially with little cameras like go pro, you can put them essentially anywhere. That has revolutionized how we can capture different shots. We put it go pro on the fin of a shark at the Neptune Islands and he swam around and filmed another shark. It was a pretty sketchy moment. I fell in the water trying to put it on. Then cut to commerical. You will have to watch to see what i mean. The predator hunts the same way they have for many millions of years. The only thing changing is the Technology Using that we can use to capture new insights into their behavior. The fact is anyone can come out and grab the camera, go pro, whatever they want, and filmed their own shark week. To me, i feel like a cinema scientist. Anywhere from infrared cameras thermal cameras. Drones are amazing. I captured nice great white sharks breaching on my phone. Drone. Super highresolution cameras like the red epic shoots 6k resolution. I also have a phantom a flag which shoots 1000 frames per second at 4k. You can slow down at the bite of the shark or the jump or a breach to 50100 slower than the speed of light. Its helping scientists learn about their behavior. Shark week lets me do all of. Is a great union between science and cinema and shark week lets me do all of that. Emily better him than me. Lead photographer for discoveries shark week. All week long on discovery channel. Coming up one week in apple , music. Is it hitting the right notes with listeners . We will renew a special and bring you a special bloomberg west discussion. And a nasa telescope captures pictures of an elusive black hole. Find out just how many after the break. Emily it is time now for the daily byte, one and number that tells a whole lot. And it is 5 the number of black holes seen by nasas new array. Nuclear spectros topic telescope known as neustar. Black holes are impossible to see by conventional methods but this can monitor the black holes via the xrays that they can it. Emit. Researchers believe there could be millions of black holes dotting the universe, like an intergalactic colander. Now to apple music. It has been one week since apple launched its own music streaming service, taking a bite out of other Services Like spotify and google play. It is free for 30 days, but after that, apple is charging 9. 99 per month. Including access to 30 million songs. What is the verdict . We tested it out. Although from l. A. , Senior Vice President at nielsen entertainment. David, what is the verdict . David everything looks great so far. A lot of people going to apple music. A lot of people trying new music. With the numbers we released on downloads we dont see any negative impact at this emily point. Your review is a bit more mixed than that. Not everything looks great according to you. Stephen sure, i think apple nailed the song selection. They have at least as anybody else, if not more. Im not sold on the interface. Spotify and google play have their own problems, but i think apples system is a little harder to navigate and use on a daily basis than competitors. Emily interesting, david, you have covered Music Industry for 20 years. He worked at universal music group. How worried should spotify be . Or pandora. On the other hand, spotify had its best week for like a year and a half. David i think that is the good news. This is bringing streaming to more people. Its bringing more people into the ecosystem of streaming. They can learn to discover and play music more often. That is what we are seeing people are spending more time listening to music. Services like this just increases the profile of streaming music. Emily steven, some quotes from your review its like a 40yearold wearing abercrombie fitch. Explain. Steven sure, i think they built apple music on top of itunes to a large degree. On your computer, you are using itunes, on your phone you are using apple music. There are a lot of shiny new interfaces and colorful new screens, but at the bottom of it, it doesnt service usability. It may look nice, or in some cases, not so nice but i think it is less about utility and more about whiz bang appearance. Emily i have been bopping ou tto beats one all day. Its a little much for work day but maybe when i go clubbing once a year, if i make it out once a year. What do you think about beat one, this is the most hyped part of the service. Is it all that it is cracked up to be . David i think one of the best things it does is it brings personality to music and personality to a service that there are a lot of streaming services that have played list or have simulcasts, or built upon things people like to listen to. But this is bringing something that is we are going to try some new things, exposed music fans do new things and give it a lot of personality. People on the air have a lot of personality. Emily steven, on the other hand, it feels like your parents pretending to be cool until you come back after curfew. Stephen i think playing censored sans hurts them a little bit with the attempt to seem cool and in touch. It is sort of jarring. If you listen to a lot of radio, you are used to that. I think people listening to the one are not used to that. Beats one are not used to that. I think the personalities are great and people coming through in the curated playlist are also a huge treat. Ive never seen curated playlists that are this good. Emily lets talk about that for a moment. Both of us were at wwdc. We talked about apple and the importance of human curation. Is this better than my pandora playlist . David it is, in my view. Stephen in my experience, it is. Machines dont necessarily make better playlist then machines or vice versa. In this case, apple hired the right people. They pulled editors from people like pitchfork and rolling stones, and in some cases, collaborated with those publications. People who really know music and what people are listening to. And what people want making playlists. So its a case of the right people or the right algorithm when you need it. Emily i will keep listening and see if it works better for me. Thank you both. That does it today from san francisco. Tomorrow, ill be joined by the former cto of quip, brett taylor. Much more ahead on bloomberg west. Imagine wiping away the appearance of crepe skin. On your arms. On your legs. Even your neck. What would your reaction be . Are you serious . Oh, my goodness. And now, a paid presentation for crepe erase. A targeted body treatment