Grubhub is going public. They are valued at almost 2 billion. That is a lot of orders. We will bring in mike mckee. A lot of people in the markets say the ecb should do something but will not today. They are too cautious. It is not just that inflation is half a percent. It continues to trend lower. A very low rate of inflation hampers the euro zone economy from growing. Mario draghi has a couple of options. They could end the sterilization of the smp program. They add money to the monetary system. The ecb drains it out. That adds more money to the system. They lent money to banks. Or you could do a fed style qe. What about standing with mario draghi . Not publicly at this point. Some extraordinary action might be justified is Economic Conditions continue to worsen. He walks that back a little bit. Their biggest concern is that the euro has continued to strengthen. That is bad for the european economy. We might see an effort to talk. Hem down that columns some of the fears and raises inflation a little bit. The question is will that be enough. Thank you. In washington, if you are a bigmoney political donor, get ready for your phone to start ringing more. The total money you could donate to political candidates and parties, Phil Mattingly is with us now to walk us through not justhat this means for this election season but the wants to come. The practical implement implications are, if you want to donate to every house or senate race coming up, you have the ability to do that and max out. , theu want to donate masses 52 hundred dollars. That is 2. 2 million you could put into house races across the country. Races, if you want to you have 187,000, then you could maxell to the Party Committees. Limit. Longer have a you could spend about 30 times more than you could with his cream Court Decision yesterday. Who are the clear winners and losers . Right now, a small subset of big dollars here will benefit from this. The other thing we will see is Party Committees. There has been a movement of back away toward the super where the Party Committees have lost a little bit of their punch. They will see money flow back in. Sot is why you see the rnc thrilled. The other thing is, bigtime lawmakers, members very youected to the money men, will see committees where people can write milliondollar checks that will flow out into individual candidates. Those people will definitely win. Losers, you have to look at small money donors. There is no question. When these people are playing in this type of arena, small donations do not mean as much. The limits on individual constitutions, they remain. That is too many much more important than preventing than what the Supreme Court struck down yesterday. That is a good point. It is something people are missing, hyperbole about the decision made yesterday. 2600 for primary, for general, for Political Action committees, basically,s max, so while the aggregate max is no longer set at the regent was before yesterday, you could still only give a certain amount to candidates, Political Action committees, and Party Committees. That matters. That is a key point. If that starts to move away, that will terrify people very nervous about money and politics. A former Senior Advisor to the president and Campaign Manager as well, david joining me. Great to see you. Tell me how you think this Supreme Courts it Court Decision will affect the election coming up. Phil captured that it limits the voice of smaller dollar donors. President ialn elections, it might have less effect. Party committees can raise a little more money. You may see pressure on the super back. Between the super pak world we are living in a now the Supreme Court ruling, the very top level of donors will be more pronounced. Grassroots donors may have a little less say in our policies. This is way beyond my expertise, but is limiting the number of individual organizations you are allowed to donate to, the fact he will donate to 13 versus 16 individual organizations, is there any difference there . The reason why the Supreme Court said, lets just allow an unlimited number for the donors. I understand that fear it. The view is this is arbitrary. They should be able to support whoever they want. That misses the way campaigns work. He will have big, joint committees. He will sport 25 candidates. To help one candidate, he will still give to the democratic viewpoint, the campaign itself and state parties. To do more to help one candidate directly, definitely are individual limits in jeopardy . Some peopleion is would probably be willing to avoid them tomorrow. In already have 45 people America Today dominating politics through super packs. They would own canada. Someone will say, i was then 29 directly on a campaign to elect a senator or governor. That would take us back. That would be terrible. I do not think that will happen in the near term. I know your love for political programs. Stay with me for a moment. Moving and shaking this hour, a pair of programming who brought you a Beautiful Mind and apollo 13, they are teaming up with is covering and starting a studio that will make short videos for online viewers. His videos are a minutes to 10 minutes long. This comes at a time when other Big Media Companies like disney and warner bros. Are you going to go into digital. This morning on our program with ron howard, the ceo of discovery communications, both will be in the loop. Stay with me as we talk about the success of political shows. I want to shoot down everything you say so i can feel good about myself. [laughter] president barack obama declared victory this week after more than 7 million and signed up ralph their coverage under the Affordable Care act. Republicans are still seeking ways to repeal the law. It is a jobs destroyer. State up and down the said they want people to health care but they cannot afford it. They are cutting back hours. Was earlier this week. David is joining us again. Editor in a receiver Senior Advisor for the president. We have had many guests the program. Some of the and for obamacare and others against it. Have a personal story that says, i know somebody or my daughter or my son tried to sign on and they did and now their health care coverage, it has gotten more expensive. Ceos are telling us they have to pay higher taxes on it. Complaints,r those when the white house hears him, what should they do about it . Class i think we are living in the land of anecdote right now. The data would suggest most people are paying less thered you have a lot of people who have not have health had helped her before. Most people will be disadvantaged. The key thing going forward, and maybe politics could settle down , the law is here to stay and is not going anywhere. Isething this big implemented, of course there will be areas that can be improved and changed and fixed. The more this is done by states, and over time, he will see every ande run their own exchange expand medicaid. Step . T about the next there are still a lot of questions. Forget about the complaint there it a lot of lessons about these numbers. What does the 7 million really mean yeah go mean . How many are receiving insurance and paying for it . How many have just switched over from another plan . They should be as transparent as they can. A lot of this information will not be held by the government. It will be by the right insurance company. You want to have enough young people in there. The key thing is to get ready for the next enrollment time later this year. Were deeper into this, what do we think needs to be changed or fixed . That discussion needs to be had. After this election, and as you get into 2015, there may be more willingness and the republican party. You see republicans grudgingly give up on repealing obamacare. You see a lot of people saying that we have got to have our own alternative. I understand in the tea party, that is considered heresy. Most understand it is not going anywhere. They need to come up with their own alternative on how to fix and change it there the white house ought to be open to that. There will be things working well and things that are not. There is still work to be done. Let me read for you some of tweets right after the president did his victory lap. Lindsey graham pleaded out, you cannot repair this monstrosity called obamacare. You have to tear it down and start over. That is a sampling of the outcries from republicans. I wonder, have the democrats it in the gop more and more ammunition to run on this latter form of antiobamacare going into the Congressional Election . I find it remarkable. Shouldublican response be glad for people to get health care. They are running down and denigrating it. Not real people. It is a remarkable thing. The statements you just mentioned and the republican message on obamacare is not about swing voters. Sick and tired of the debate whether they are for or against health care reform. This is a play to the Republican Base. The Republican Base gets by this. It is never going to happen. How do you know this is not a swing voter issue . With i spent a lot of time political data, more than i would like to. Something motivating. They do not want to repeal the Affordable Care act. The average voter wants implemented and figure out working together how to fix it. This is a base plate. Republicans have a turnout election. They are playing for that crowd. Disingenuously, we will get rid of obama there. That will not happen. I go back to the complaints that anecdotally you and i both here about premiums being raised. Or having to pay more, companies having to pay more, and therefore cutting peoples jobs. When you hear more and more about it, should the white house have a sharper response so they do not allow there to be an opening on obamacare . You have to look at hard data. Mopey most people are able to get much more affordable policies. Needs to begin on that. With employers. Then you have to say, where is that true and where is it not true . That is smart government. In terms of the politics, 2014 is less about the Affordable Care act than where the elections are being held. In the senate in particular, democrats are running into state we have to go but we will be back. The former obama Campaign Manager emily will be back in two minute. Three otherskilled before fatally killing himself. He served four months in iraq in 2011 and is being evaluated for posttraumatic stress disorder. Military officials said this appeared to be a personal dispute unrelated to terrorism. The Central Bank Left Interest Rates unchanged. Inflation is now one half of one percent among the lowest level in more than four years area mario draghi is expected to discuss measures he still has available to deal with inflation when he gives his monthly news conference. That starts in a few moments. A big concern. Entertainment posted a 13 drop in attendance in the first quarter. The Company Based in orlando, florida. Hurt by rising ticket prices. The Blackstone Group continues to reduce its stake in the company. 26 minutes that they are. Bloomberg television is on the markets. Looking mixed. This is after the s p closed, a new record high yesterday. We got better than expected numbers. Private numbers. The report came in a little better than economists forecast. We will be focused now on the government report due out tomorrow morning. For aturn over to europe second. Mario draghi is the head of the European Central bank and will start his best conference any moment now. That will presumably start moving the euro, a little lower after drug he said benchmark Interest Rates in europe will be left unchanged despite the fact inflation is growing at its slowest pace in four years. The euro is a little bit weaker against the dollar. In asia, markets higher. Againl be on the markets in 30 minutes. Thank you. House of cards, homeland, audiences are eating up political dramas and comedies. This sunday, there will be more. I like to eat my mind on the campaign. Can you imagine if i did that . I do not trust the chinese. Running for the president of the united states. He do not announce your candidacy while the incumbent is still warm. Claims it is the start of season. Hree of the hbo hit the Network Calls it the least sexual post in the most powerful office in the world. ,he righthand man, neurotic gary, played by actor tony hill, known for his decades on arrested development, is joining us here in new york. To have you here with us. In real life, david, i mentioned is a former Senior Advisor to the president and his joining us as well. David, i know you are a fan of some of these programs. You have got your book your new beginnings. Show it to us. Clever marketing. But includes look a description saying, david, will you be free and yeah fell class it is great because she has nothing to say. Tony, she is going on the campaign trail for the third season. You yourself have been such a key part of how this or ran has developed and why it is such a hit. Not only among people like david in washington but around the country. Learnede you about washington playing . He is carrying around a bag and has stuff she needs. Typically people who have my role are in the 20s and they do it for two years and it is exhausting and may have no social life and i never see their family. My case, ive extended into my 40s. Still have no social life. Identity isf my her. It is sad. Are there a lot f garys out there . They tend to be just for the president and Vice President. They are very important. They do not have their own mic but they are responsible for everything from comfort, food, schedule, events, briefing. A usually tough as edition with a lot of stress and little sleep here you are with this person 18 or 20 hours a day, never separated. It sounds like a very stressful job. Is it as poetic as it is portrayed to be on the show . He see gary in certain settings. He gets to be on air force one thereo and see the world. Are a lot of great things you will never forget in your whole life the day today, yes. If the president or Vice President is having a tough day, they will take that out on you. You are there to absorb it. My character probably has a shrine to selena with candles. Learning whatjust a personal aide is, what have you learned about washington in general . How much reparation goes into this role and developing the series . I have a huge ad firm admiration for anyone who wants to step into that place. It is a pressure cooker. Granted this is a satire to the extreme and hopefully it is not anything like this, but i love that it takes you behind the scenes and shows that these he will have 3008 get insecure. We see the perfect soundbites and the posturing, but they have to lose it behind the scenes. We show that. There is a lot of comedy there. But hopefully it is not to this extreme. It does give them humanity, which i appreciate. How accurate or how much is him of the programs like these resonate with washington insiders and how accurate are they . Washington is not as interesting as the shows. We enjoyed because army it makes our world enjoyable. Not as productive so that is good as well. It gives you a glimpse into what it is like and a where thesecenes, are highpressure jobs and you have to perform publicly. Privately, government and campaign, it is all a collection of human beings. When they get together to engage each other, it makes for amusing moment. I can imagine. What are the best parts you emember the most . My character does not know that much about politics and does not care, but has crazy factoids. And hethose in her ear may not know what position a person is. He does crossfit on the weekends so she can have a crossing point. He accidentally gave her too much st. Johns as a painkiller. And she walked into the glass door. Loopy and told wonderful stuff about how they would dance all night at this party and she loved him. That is his nirvana. Of or, it was a druginduced state and the drugs wore off and she kept on bashing him. For that moment in time, it was his nirvana. , a tripf the best i saw and all the antics that happened from that. What was it like laying his character for a program introduced by hbo and how much is that different from arrested development . I was a huge fan of those shows and thankful to have been on both your with hbo, all of the writers are ready british and it is their perspective on politics. Credit, they hired our man to do what he does best. They do not step in much and let. Im creative freedom they have been fantastic. Development is pretty nuts and broke the mold a little bit. For actorscreate on hit shows, does it create a big platform for your own brand, but do you find having more of that creative freedom allows you to expand further out in terms of your own brand . Yes. I am an actor. I am always looking for a gig. I am thankful to be working. But it is fun to do other projects. I am doing a Childrens Book coming out in august. It talks about we are forgetting exactly where we are. It is a lesson i want my daughter to embrace. Always, ive got to get to my next thing and he realizes in the end there are next big things around him. I am glad to work on other projects in a distinct in addition to action acting. Campaign trail for top office, for president there there is all this talk that joe biden will possibly make the run as well. What advice would you give any Vice President . History suggests they have a good chance to get in the nomination. It is the most reliable way to do that. And our party right now, Hillary Clinton looking at it, the Vice President biden, i am sure they will take notes of the season and see if he can pick any up. Like please do not. Would go viral. What advice would you give . It is a tv show, my sense is that we know how it will end up. She is on the Campaign Show next season and you see her giving money to her campaign and youre like, you are idiots. Why are you giving money to this campaign . This woman should not be doing this. Thank you. Thank you for joining me. And also tony. Thank you for joining us. An initial jobless claims, they just cross the wire. Mike mckee has more on these numbers. We are still within the range we have been with jobless claims. They pick up a little bit. Last week was down a little bit in terms of revisions. No change there. The labor market, as far as layoffs are concerned, not going anywhere. Still a lopez. March jobs reportmarch jobs repd on what happened a couple of weeks ago. It tells you things have not changed significantly aired we are watching the trade down telling us we did have a problem in february, more than 42 billion. That will depress growth. Two of the big issues is that we exported fewer airplanes, boeing selling a few less overseas. Also, exports to china fell significantly. They had golden week during the month of february when everything shuts down him and that may be impacting our trade as well. Inholds down what happened february. Thank you. Mike mckee. Mario draghi is speaking right now at his press conference and said ecb is unanimous on unconventional tools used in order to stabilize the euro legion. You can watch more of that press conference on our channel. A new form hollywood heavyweights behind the project, ron howard and the discovery ceo. Instion woman president is and ceo focuses on health care and joins us now. On obamacare, and the goingentation, as were to the process, how will that affect or will it affect your more demanderms of from Health Care Companies from real estate, or is that not a factor . The obvious answer would be havecare, the aim is to universal coverage and that was in fees the number of people covered by insurance and a greater pool of people for biotech and sector to sell products. We see that as a net positive. What is going on for Health Care Companies and how they are leasing venice leasing space right now . Class big pharma has sought to restructure. They have gotten much more efficient. About half of the work they do to break through drugs internally, the other half is externalized. Much of which goes to academia and biotech firms. One of the early entrants where it moved its worldwide headquarters are research and development from switzerland to cambridge area we see the trend moving pretty irreversibly into the great clusters. Alexandria being named for the science capital of the ancient world, we are the only company that folks is on urban science campuses. Interesting as an approach. It is very interesting. You are noticing also when the Companies Need the talent, theyre going into more urban areas. Is the key. Bloomberg looks to hire great talent. They have great space and a lot of amenities. We essentially do the same thing. Institutions are creating the ip and our collaborative, spinning off much in the way of property. Really bringing in those economy workers. Are they paying higher rent . I do not know about that. Obviously higher than suburban areas. There are a number of examples. Even our center here, the Alexandria Center on cityowned land. We did a venture with mayor bloombergs leadership. Theyre selling their campus because they want to be closer to the corridor. Great academic institutions. Great clinical. A pool of talent here hard to attract. They might live in new jersey, but they want to work in the city. Class a funny pitch i made, when overlooking were the east river, very beautiful, a river park restaurant, and i said, one thing you have to to ther is if you come Alexandria Center, it will not be cheaper than new jersey. You have to get over the issue. They did immediately. Is not a major component. Class interesting. Thank you for joining us. Great to see you. Coming up, captain america heads to eaters this weekend. The latest superhero film, will it live up to the success of its predecessors . Mario draghi defending the banks decision to keep Interest Rates unchanged, even as inflation falls to its lowest paste pace in four years. Question our big number today. The holy grail for nerds who want information on the expenses 75yearold small marvel universe. Their weight, eye and hair colors, and the superpower. The ninth film the marvel, captain america, will hit theaters. They have been big winners for disney, especially the avengers, which raked in 1. 5 billion dollars in 2012, the third for thirdhighest grossing movie of all time. Dan lee sat down with Jon Erlichman to talk about why the stories are such a hit on the big screen. Class i remember when i was a kid. Everybody wanted to see king kong. Everybody wanted to see frankenstein. People love things that are bigger than life. They did not make that many until recently, when the producers discovered these superheroes are the most popular things ever with the public. Someone who saw the potential for the films was the disney ceo who paid 4 billion in 2009 4 marvel entertainment. Marvelous superheroes success and the people behind it is the cover stories of this weeks lumber business week. Here are the keys to what makes marvel films such masterpieces. America, thein winter soldier, opens on friday, it will be more the marvels nine in 10 years. How do they do it yet though four keys to their success. Stick to the comics. For years, hollywood screenwriters tried to redo marvels ironman marvels origin story because they felt along the, if did not work. Marvel said, lets just do that and ironman grossed 585 million in its first year. The company tried to they faithful to the comic books ever since. Do not cast megastars. Relativeceforth was a unknown when he was cast to play thor, which made millions of dollars in 2011. Last year, a thor see will make 604 million. Not overshadowid the character and marvel do not have to pay him a ton of money for either movie. Takes a universe. Years ago, marvel sold the rights of spiderman two sony, which the Company Knows was a huge mistake. Universe ofas a more than 5000 calorie theres characters, culminating in a megaproject like the avengers. Never forget sequels. World war ii movies do not sell a lot of tickets these days but the studio to the long view. The character would start in the past and then be brought into the present, giving him enough fish out of water angst to fuel sequels. The first captain america made 370 million dollars. The sequel is on track to do even better. I have seen a lot of those movies. Coming up, hbo takes a long hard look at Silicon Valley in a new show debuting this sunday. We will write it down with reallife tech heavyweights. Red hot right now, we will show you two homes in the hills that are shattering sales records. We will be back. Time for this versus that. This mansion is 50,000 square feet and has been described as a french castle. Lastly, it sold for 102 million after being on the market for seven years. That is the most expensive residential sale ever recorded in southern california. The l. A. Times speculates the buyer is michael milken. That is the beverly house. Also on the market for seven years, it may end up being the new record holder because it is on sale for 105 million area is a modest place with 28 bedrooms and 38 bathrooms. It was also featured in the godfather. Is 56 minutes past the hour. Bloomberg television is on the market and equity futures right now i need to a mixed open. Tomorrow, we will get the payrolls report. Are pretty much unchanged right now. Mario draghi can and use it press conference in germany. Were on the markets again in 30 minutes. Coming up, hollywood titans are in the loop. Class we are about 30 minutes from the bell. Discovery communications teaming up with hollow hollywood wristers ron howard and brian fraser. Videosorm short form online in a few moments. We will have an exclusive interview with ron howard. The online Food Ordering Service its ipo tonight. They may value the company at almost 2 billion. Ecb will not raise Interest Rates anytime soon. Mario draghi says rates will stay current or low levels for some time. The ecb president continues his press conference right there. Mike mckee has more. What else has he been saying yeah oh saying . Some comments he made about what went on in todays meeting. They are monitoring the situation closely and have not ruled out any in, including unconventional ill see. They specifically discussed the idea of qe. He did not say what form it would take if they did it, doesg bonds as the fed with the extreme the difficult because of the number of countries involved and the treaty that governs them, but it is on the table apparently. They discuss other measures, including a cut to the refinance rate. That would take them into negative territory for that rate, which would be about a lot of unconventional policies that has the markets moving a little bit. Even though theyre not doing any of them yet. Thank you. I am sure there will be more headlines you are in my wiki on mario draghi, the ecb president. Moving and shaking this hour, the billionaire cofounder of aol and ceo of revolution. The first ever google from the norse. He will back their startups. 100,000 in each of the companies during the next round. Marketplace for parents to buy and sell kids pretty own clothing. That is interesting. The online food site, operations for more than 600 indians in the u. S. Is raising its ipo tonight and there is method to raise 100 million valued at about 2 million. Im joined by leslie, who covers the ipo world for us. How excited are investors . Class is one of the most wellwritten and a longtime. Say how they make money. Restaurants listed on the site. That as a journalist is very interesting. See. Rare to investors have already shown a Strong Demand for the stock because they increased their price range and couple of days ago. They increased it by a dollar per share. A pretty nice idea. They are banning a bit. You mentioned more than 600 and. I was looking through the numbers and their income dropped. 15e making 50 million million in 2011. Companies,ning the we tend to see a slight drop that could bemes, a little costly. What is the biggest risk . The biggest risks is for them to maintain competitiveness. The reason for the merger was to make sure they had a bigger share of the market because they saw the upstart Restaurant Delivery companies coming in to take away share. Competitiveness, they have to continue to have great relationships. There are smaller competitors. Absolutely. We saw their counterpart in london start trading today as well. It is a nice benchmark. A price at the highend of the range. In their perspectives, they listed your standard written warner restaurants as being a competitors. Class office was interesting and these are stats of people who people are eating very healthy. Kalo orders are up 139 in 2013. Brussels sprouts up 68 . Restaurants they highlighted, thought were interesting. Some photos of the restaurants, we have the restaurants are. Build your own salad from the salad. Brooklyn. The number one lunch order. Chicago, geisler and the sandwiches for lunch. I cannot take that. I would be in a food coma in the afternoon. Boston, the number one lunch order. Novell is interesting because it showed aside from what youre seeing in chicago, it is more women. Seems that way. Not that men do not eat salad, but it is more women. That seems to be that big target customer. On a customization aspect, if you have the menu online, you can say what you want in your salad. You have to say you want lettuce or carrot. It is harder to order that way. I agree. Thank you. Areng up, digital tv wars can it compete for a place in your living room . , a new form of online entertainment. Ow will they partner up . An exclusive interview. Stay in the loop. Class hollywood producers are joining to start a new studio. The adventure will he called new form and will produce short videos for online viewers. For more, Jon Erlichman joins us now with more and he will bring us and ask whos an interview later in the program. Yes, we will speak to the discovery ceo. If you think about this in terms of the money, it may not be the largest venture we had ever reported on. We here in the neighborhood of multiple years. The message it sends, this is a fascinating story. Thisave a company like that has global operations. Very profitable and looking at change for video acknowledging people are considering video in new ways and people want to make sure theyre moving in that direction. This takes it to the next level. Then you have people like ron howard and brian who could very easily spend the rest of their careers staying in a world of film and television and working with players like fox and universal, which they will continue to do. They are acknowledging things are changing and we need to do more and invest in the future. You take this and couple it with interesting and chest leases chess pieces in the world of media. Facebooks this mean are in the, they Younger Generation . Class people talk in those ways. Yahoo , aol, they are clearly saying we want to do original content and want to do places where things are interesting and unique. That stuff ends up being shared in platforms like facebook and twitter. We could see twitter moving in that direction as well. If you are the big names in hollywood, you have to think as much about those worlds as tv and film. Even with this partnership, part of the plan is to encourage players to come on board. On howard, they have a lot of other stuff on the go. Any announcements tied to the with, maybe highprofile people who want to experiment more. Five10 minute videos as opposed to a 30 minute tv show or two hour movie. Thank you. We were talking with ron howard and david a little later. We will see you a little bit. Our bloombert west coast correspondent. I want to talk more about this yield. He executive Vice President of three media adventures, a film Media Company partnering with netflix and itunes. Im curious what you make of the new venture. It is a brave new world. Everything is changing dramatically. They tried to do this back right before the millennium. The first internet boom. Digital video. Was not around and they could not take it off. It was too early. A perfect fit for them in a perfect fit for discovery with the digital channels. A big reach internationally. They are trying to combat with lifetime and History Channel and all the things they are doing. Hose are trying to figure out it will be very interesting what happens. Class how do they make sure they create the content without eating into it . Class it is a different viewer. This content is for the mobile user. A person pulls a smart phone and wants to get an idea for five minutes, a k center field. It could be scripted programming. It will be nonscripted programming. But they will move into scripted. They will move into short term content. That will be a pilot. They will decide if it is successful or they will make a series out of it. It is starting to get the consumer earlier and earlier, give them a taste, and grab them with the longform content. Class interesting. Weigh in on this. Tell me where the opportunity is for these which just distribution Companies Like amazon and netflix, who are also content creators. David is right it is a different you are. It is not necessarily a different person. Is a person using a different device at a different time of the day at a different location. They are not watching tv on the tv. Need anwhere you aggregator. Youtube has been an aggregator for short form videos and the obsession is about two menaced earth i do not know these guys are talking about twominute content. Sounds more like 10 or 15. Search is the hard part. Finding this stuff is really hard. That is why we go to youtube. The search is easy there. We use netflix because the search is easy there. The device is far less important than the aggregator. Youtube and netflix are the standouts for any content consumed outside the living room. Netflixhas held expands. That is a great point. Being able to come out from the noise. There is so much noise right now. Ron howard, these are big names. How do you stand out . Class discovery can bring in big names. They will promote this. They have us talking about it. The first day after the release. Discovery has the power to get the word out there. T is much more difficult i find it curious the digital age came on and i can get all my content up and it is open for everybody. It is harder for people to find that content then east to the. You walk up and down the aisles and you browse. Browsing is so much harder now. Youtube has made it easier to is not that netflix easy either. It can be difficult. They are the first one with the algorithm and the stuff that made it easy for you. They have this asap thing, which is quick, before you even start watching it, they will tell you what you want to watch. I find it intriguing and interesting. I do not know what that means. Theyre delivering stuff before you bought it. What you think about that, michael . I do not know what it means either. A bold move by amazon. Others have tried this in music and pandora is the only one that works to give you what you want your it netflix is really the only one with an algorithm. I do not know amazon will succeed. You are also pretty underwhelmed. You said this was a device coming out from amazon. Class unlike the candle, the first massproduced commercial the reader, they started the coming afters smart tvs and after game consoles. Samsung bluray players. There are so many ways to get internet content that amazon getting your box out is underwhelming. It has got great features and i do not think most consumers care. It does not matter to me. Class i go right for the gaming consoles they get. A lotw platform provides of options for a family. Michael is right. I disagree with him on one point. Amazon, 490 nine dollars, is adding a gaming device to the tv that can connect to your smart phone that can be your gaming device. A lot is going on with the system. Consumers will like that. It is inexpensive. They do not have bigname games but it will be interesting when that happens. Thank you. We will be back. Coming up, real residents of Silicon Valley. We will ask them what they think. Were just a few minutes away from the opening bell. The top 10 traits you do not want to miss. Keep it here. Welcome back. Were on the markets before the open. Good morning. Futures are mixed right now. This is after the s p has risen for the past quadrant is in close yesterday, adding a new record high. Yesterday, we had those jobs. Better than expected. This morning, initial jobless claims were a little worse than forecast. Tomorrows jobs before the payrolls report due out at a 30 tomorrow. We will be on the markets again in about 30 minutes. Lets count down to the open with the top 10. Julie hyman joins in as well. Lets start with number 10. Maker labor and numberweather nine, the Pharmaceutical Company sells more than seven percent after being cut underway to neutral. Jeffrey also slashed its price underwhelming google, the switch between class a and Class B Shares will take effect today. Traded google shares will oogl. Lol g confusing. Swiss banks losses were larger than expected. Credit suisse announced it raised pay by 23 even as it missed Financial Targets Set by the firm. Coming in, the Materials Company reporting a 47 jump eating analyst estimates. Tech industries posted a wider loss, posting higher products and interests costs. Drope Company Posted a 13 in attendance at the same time blackstone continues to reduce stake in the company. It has been raising prices over the past year. Class number four, the homebuilder warns of a nine percent drop in new orders and a 13 climb in total closing. It expects to report a profit and is optimistic about the spring selling season coming upon us. For aboutht rely on 40 million as part of an effort to diversify its supplier base. To add 282 thousand 15 earnings. Barnes noble. Cutting Liberty Media and it frees barnes noble to develop a strategy on its own. It has struggled to do that. Liberty will hold about 10 of its initial investment in barnes noble. Number one is discoveryt medications. Teaming uphe w with hollywood heavyweightsalking ron howard and david zaslav. Do not miss our exclusive interview with discovery Ceo David Zaslav and ron howard. That is in a few moments. Now to a call on the markets. I want to bring in the chief investment strategist. Intoall do not buy twitter or even marijuana stocks. You might use some of these things, but do not invest in them. Abouts not talk marijuana usage on the show. This not in chicago or new york just yet i think. The issue with twitter, tesla, marijuana stocks is simply that expectations have gone way ahead of reality. Theres no question that tesla is a revolutionary company. Selling an amazing product. However, it would need to sell so many Amazing Products to justify the current stock got a stock price, that youre better off watching the fund from the sidelines. You have been looking at some of the bowls and what theyre saying about tesla. You just heard pat acknowledging there is a bull case to be made on tesla. If you look at verses the frothy stocks, it is selling quite a bit of it. It sold more than 22,000 of its model s sedans last year which verses some of the bigger carmakers is not a lot, but considering the price tag of 100,000 on those cars and you see how the companys revenue is growing, it will boost the production 55 because it hasnt been producing enough cars to meet the demand. The demand is outpacing how many they can make. Yes, the stock has had an enormous runup and has come down to some extent, and there are still a lot of bulls on tesla. Remember the price tag of the stock as six times sales. No doubt people say it is frothy, but would you buy into these companies if the stock declined to a certain extent or do you just want to stay away from them . Everything has its price. Tesla went down 80 to 90 , it would be interesting. Wow. The biggest driver is valuation. It has to be first and foremost in your mind. You are recommending some other stocks. Is the weather. It is the Market Leader in animal health. It doesnt have to do with a thirdparty payer. There isnt much with generic competition. Buy and 20 stock a rate it a hold. That may be why it is stuck in a rut. Zoetis stock percent down about 9 , basically flat since it spun off from pfizer. If you look at the 2014 fiscal guidance, a little short from expectations. Slowing sales growth story. They have macro trends in favor, but havent been able to deliver on profitability. Where is the breakout for zoetis . Most spinoffs are like this. A multiyear Margin Expansion story. It is projecting cost growth that 2 to three big percent 3 percent. If you look at the map, you get to about a 40 stock in a few years. If they cant deliver on that margin cutting, youre totally 6 toplines is a company. We think Margin Expansion will happen in his as it cycles helpgh, that should really with some of the slowing sales you mentioned in the next couple of years. Great to see you, pat dorsey. Hbo takes a hard look at Silicon Valley in a new show debuting the sunday. We will break it down with some reallife tech heavyweights. Ron howard talks about the new project he is working on with discovery communications. Were just a few minutes into the session. Time for the global outlook. In turkey, the Prime Minister has been ordered to lift the ban on twitter. The government wanted to stop what it calls leaks about a corruption investigation. The government imposed the ban before last nights were last sundays elections. The European Central bank plans to hold Interest Rates at a record low. President draghi says rates will stay current or lower levels for an extended time. He says the euro area economy is in a moderate recovery. Back here in the u. S. , hbos new series Silicon Valley will debut sunday night. It takes a critical look at valley culture. What do you heavyweights think about the show . The bloomberg west two got together to watch the premiere and found out what they liked, what was real, and what was not. Dead on. It really is eric schmidt. You want to live here, you have to deliver. Like steve. Dobbs or wozniak . I heard you. Jobs. Jobs is a poser, he didnt even write code. Wozniak was the engineer who created the apple, right . I love the steve jobs thing, too. I can imagine a couple of engineers having that conversation. Never wear awould blue shirt. 200,000. 600,000 dollars for 10 of your company. The arbitrary nature of the whole thing is totally dead on. What the offers are. Just based on nothing. Urgency creates either an acquirer or a funder. No one is is interested in till someone else is. A few days ago when we were sitting with barack obama i said, we are making the world better place. Constructing hierarchies. Changing the world by making Enterprise Software companies. I think there are plenty of companies out there in the valley right now that make that claim. I think all of us feel a little awkward that happens. At first i was thinking, is this an exaggeration . But its not. What company doesnt remind you of . Of every major dot com, facebook, google from yahoo . Bit soup. Like alphabet soup, but 1s ans 0s instead of the letters. It makes you cringe. It is brilliant. Too funny. Kudos. Who was going to watch the second episode . Im in. Im all over it. Of course they are in, because they know all these guys. For more on what to bring in sam grobart. You also got a sneak peek of the series or this first episode. What did you think . I thought it was fantastic. I really enjoyed it. It is perfect that mike judge would be the person to finally figure out how to satirize Silicon Valley properly. Officebased, which i would argue has been one of the office space which i would argue has been one of the most funniest. And a look at this crazy world that has developed in the meantime is just a perfect match. In his early career had worked at a startup, so he knows you did a lot of research, had to get it right. He spent a lot of time developing this. You say you can tell, the this is a very smart take. This is the smartest take ive seen on Silicon Valley is using it as material for entertainment. There was a reality show on bravo that was terrible. There was the vince vaughn movie was internship which terrible. This one gets it. It is very subtle. Even if youre not familiar with Silicon Valley, a really delivers the absurdity of that community. It almost makes you wonder what took so long. This is a culture in silicon , ey that is ripe for, the comedy, for the screen. Charismatic ceos that run companies are most like cults, nerds with tons of money that is happening at lightning speed, crazy science projects existing nextdoor to incredibly boring lines of code. It is all right there. Nobody has ever been able to crack the code until now. Absolutely. Interview,aid in an these are very smart people but theyre also after making millions and millions of dollars. Theyre just like any other entrepreneur. They are ambitious, scared, smart all of those things. Thank you so much, sam grobart. Dont miss our exclusive interview with superproducer ron discovery the ceo of communications. Heres a look at the top tech stories. Pay 532hairman will million to take a stake in Financial Software company hund sun technologies. You will become the largest shareholder in the company. Microsoft is taking over the Largest Office tower in San Francisco in the heart of the financial district. The worlds Biggest Software maker moves in december. Turkeys top court or the Prime Minister to remove a twitter ban that is been in place across the country. It was put in place to stop, allegedly, from a probe against the Prime Minister. Television giant discovery is starting a Digital Studio with hollywood heavyweight ron howard and brian grazer. Jon erlichman has been all over the story, about this new venture called new form, this new studio, really. There are a lot of questions on exactly what theyre planning on doing, the content they will be producing. I know you have some exclusive guests on you. On howard and also david zaslav from discovery. I will let them answer your questions. David zaslav and ron howard are joining us now or they will be liz busy with the discovery of france later today. You look excited. Thank you for joining us. David, let me start with you. What was the driving force for discovery behind Something Like this . Core mission is to tell Great Stories. The way weve been doing it over the years is through our channels. We have more channels in more countries around the world than anyone else. We have been growing market share and we have had a hell of a run. The way people are consuming content is starting to change. It is not just on the tv set. A few years ago we started on this journey of what is going on on youtube, what is streaming content. We have launched 90 Youtube Channels and bought the leader in nonfiction streaming, and we built a real competency in the streaming bills this business. How to stream it around the web and monetize it. But as we look at that space, there is no one playing hard and effectively in a scripted area. We looked around and said, who are the two best storytellers of our generation . Who tells the best stories, finds the best characters, and generally enjoying engage generation on the big screen and tv, and why cant we do that in the streaming space . We reached out to ron and brian. They had also been exploring this area. We said together we can really make something happen. And that is how i got started. Ron, from your perspective, what gets you and brian most excited about Something Like this . You have had this itch for a while. We have. We experimented this 13 years ago. We were years and years, but it is because the medium of sure form is very intent on seeing an enticing and scratches certain creative itch is that you just cant with a Television Show and a feature film, because of the way the narratives have to roll out in the way the characters can unfold. We have always had a fascination with it. We havent been at it in a long time. Every once in a while, i would direct something for funny or die. I have always been intrigued. David and brian started talking about it, and here is david and heres discovery, you know, they really understand entertainment and they have had experience with it. It really reignited our interest in our believe that we should approach it. But you have to approach it in a new way. You have to reach to the people who now for some years have been exploring it creatively. It is going to be great to be a part of it and to grow a studio around those very specific kinds of tones and ideas. David, let me ask you, where should we think about where we are going to see this stuff . Yahoo or it on facebook or twitter or all of the above . Where does Digital Content go . The great thing about Digital Content is a goes everywhere. In the cable business, if you go to russia, we have 11 channels. We have been there for 15 years building us channels. Studio canan and the produce a great piece of content and we can put it on and he can be available to everyone around the world to consume. It is a real democracy on these platforms. The great content moves to the top. The exciting thing is that we can really scale up quite quickly because we can reach everyone. Cablesnt like the business or broadcast business where youre getting a license. Were taking advantage of the worldwide infrastructure, whether it is on the web or cell phones or the ipad all of those are screens or people are consuming content. We see ourselves on every one of those screens. The great thing is that a great piece of content gets pushed all around the world. Theres nobody better at creating rate content than ron and brian. Also, finding some of the great creative people to work with, it is a good part of this. Im excited for the collaboration because just as a consumer, im out there watching and absorbing and i am fascinated by it. It is great to have a really compelling reason to get involved and really understand it and build upon it. One of the things that ron and brian felt about this is creating a studio they will be running the studio as the creative officers thomas officers, but there is an opportunity for so many people who want to tell Great Stories that can come under our tent. Many of the people that ron and brian know and many people that are just out there that want to be or do scripted narrative stories on the web and dont know how to distribute it or monetize it, or maybe to use the mentoring of great Creative Leaders to figure out how to tell a story. That is one of the exciting things i think. Ron, what do you think the secret sauce is . You have been thinking about this a long time and have had a lot of conversations in hollywoods with others who are curious about it, but how different is it when youre doing something, especially something scripted, for five or 10 minutes as opposed to a 30 minute tv show or a twohour movie . How do you approach it differently . We are going to learn. You have got to find that secret sauce. Whatever it is, it needs to be addictive. That is the goal. It will also be interesting as we go forward to look at what we know, what our peers know the way weve been telling stories, and what applies and what doesnt apply. I think a lot of it will actually apply, that it will be fascinating to collaborate with people who have already been in the medium, understand it, understand the audience in a way we dont. It is a fantastic learning experience for us as well as we hope a great business. David, how do we think about this venture versus the tv business of discovery . Are they separate . Is there a way they come together at some point . What is your roadmap . I think it really completely separate. Three that had about 100 million streams three years ago. We built it almost to half 1 billion. Half a million streams. We kept it in San Francisco. It is a different kind of content than traditional 30 or entertainment content that we carry on our channels. Our best strategy was to leave them alone and learn from them. But we didnt see any of that content crossing over. On occasion, it does. With vice, crossed over were they built a great series on hbo. Every once in a while, i think it can. But the Mission Statement is not to bring the audience to tv, but the Mission Statement for i am brian and tv is to create great scripted short form content, to learn about what nourishes the audience, to take it around the world, and have fun with that. That is what this is about. If anything else comes from it, that would be great. Were going to where theres is a big audience that we think is underserved. Ron, if there are other creators that come under your tent thomas should we be thinking of traditional hollywood types or are you more interested in that next generation, the people who are very immersed in this world already . I think theres going to be an intersection, and maybe that is what we can provide. The infrastructure that may allow people, like brian and i, or producing television, network and cable and making feature films, we are involved in yet creatively, curious. Here is a place where you can explore and experiment, and also place where you can intersect with the people who are committing their careers already to the internet and their voice on it. Think i am most excited about the possibility of a kind of mix. What will that cocktail yield . Im sure there will be cocktails later today. [laughter] i think i know you have highlighted before that scripted in this big world of digital, and still a small piece of the pot, how big of a business can this be . How should we think about that . Could benk it meaningful. It is all a matter of scale. In the u. S. We have 14 channels, between 12 to 13 viewership on cable everyday. As you go around the world, we look at the amount of market share, how much time are people spending with us. People are spending a lot of time on the web and with new media platforms consuming content. We think this could be a big business in the sense that together, this new studio could create some real market share and can have a real influence and telling stories, fun stories, series serious stories. There are advertisers that are interested, and we are monetizing our streams on the web. Streamss on the video are quite good. I think if we can get scale over the next couple of years and have a real voice in the marketplace, this can be quite up Good Business for us. Ron, what is a Digital Studio look like . You have big studios here in los angeles. You mentioned he worked with the folks at funny or die who generally work out of a very small space. You will have operations in l. A. , but is this something you can do all over the world . Base a summit he says, i dont even know how to start, we can help them. But at the same time, people anywhere in the world are ready out there creating great content and we will not support that as well. Flexibility. Nd of i think one of the keys to the promise of scripted is that again, i know as a viewer content consumer myself, i am more and more discerning all the time. There are more and more choices. This gets back to wanting things that are reliable. You click on something and you wanted wanted to do what it is supposed to do, including entertain you. I think people are just becoming more and more demanding and discerning, and now requires expertise. We are trying to create a framework would have him become where they can become more gavel and iced galvanized. Just to clarify, you will still be busy with your day job of making films and tv shows as well, correct . Oh, yes. This is great to be involved in. To influence. If i get an idea, i will want to grab the camera and direct it im sure. Part brian and explore all ofo the mediums and spectacular opportunities. They share the ambition and are ready now a hell of a lot about it. All right, have fun with it. Thank you for joining us. Discovery Ceo David Zaslav and ron howard. Ron will be taking the stage later today in new york. Back to you. Thank you so much. Is jobs day. We will break down the jobs report tomorrow morning. Market makers is next. What to do about those pesky activists . Corporate boards know who to call. Youll hear from one of the worlds Top Investment bankers. Keeping investors in the dark. The networks anonymously. Michael lewiss new book