Industrial output rose in august but fell short of estimates. Investments increased at the slowest pace since the year 2000. All of this ahead of the chinese president xi jinpings first state visit to the United States, and the summit in seattle organized by the Chinese Government. Joining me to talk about all of this is carmen chang and matthew prince. He Just Announced a joint venture with bart baidu. I want to start with you. This is really interesting. You have announced this Big Partnership with baidu and you guys dont even operate in china. On the other hand, you have the ceo saying everyone is underestimating the capacity of the internet boom in china and dont understand the online to offline world. Guest it is really is an amazing. There are 700 million Internet Users, or one out of every four Internet Users is actually in china. We recognized it is a market our customers cared about and chinese consumers wanted to be able to access other companies around the world. When cloudplayer is providing performance and security services, from to companies ranging from Small Businesses to fortune 50 organizations, china was top of mind, and this Partnership Allows us to ensure internet will be faster and safer inside china. Emily carmen, you not only help u. S. Companies expand in china, but you liaise with a lot of chinese companies. How worried are you about these broader concerns about a chinese economic slowdown . Carmen i feel when we look at china, theres tremendous excitement and i feel in many ways the prospects for china where people had very High Expectations and i think now, people are very worried. I think there will be some slowdowns that i dont think it is going to be any kind of major disruption. I do think there is some Market Correction going on which i think is a positive step. Im really not that worried about the situation. Emily tell me how the partnership works. You call it a virtual joint venture because cloudflare does not operate in china. What is possible, is foreign websites will load more quickly in china, which means it could be a boon to foreign companies. Matthew thats exactly right. To give you some sense, we saved over 240 years worth of time that chinese Internet Users would have spent waiting for websites to load. In the past today. Emily having lived in china and used the internet, that is a lot of time saved. Matthew it is huge. If you went back time, the United States would not even exist as a country 240 years ago. What is remarkable is we worked with high due to allow our customers to be announced inside china but we have done it in such a way that the personal, private data, the secrets of those companies and passwords are never shared inside mainland china. And so, cloudflare has no operations in china, we rely on baidu to do that. But we have this unified plot from that can ensure performance security and availability now matter where your customers are in the world. Emily at the same time you formed a partnership, it seems like the Chinese Government is only restricting the internet even more. Obviously, facebook is still blocked in china and twitter is still blocked in china. But it is even difficult to access gmail in china. Carmen, what do you think about this tech summit with president xi jinping . What kind of concrete progress will we see . Will facebook be unblocked or are those things just never going to happen . Carmen im actually optimistic about what is happening right now. I think that, as you know, i think that google is returning to the chinese market. And i think facebook is still engaged in discussions and im quite optimistic. I think that this summit in seattle is a very Good Opportunity for people from china, for people from the u. S. And a lot of u. S. Ceos, as well as u. S. Government representatives will be there. It will be a Good Opportunity for everyone to be able to get together and talk about the possibilities. But i actually think that, if we look at what cloudflare has been able to do, i am quite optimistic that during this next time, well see more efforts like cloudflare which will succeed in enabling u. S. Companies to be in china. Emily i appreciate your optimism, but i have spoken to a number of experts on the opposite side who say facebook is not going to be unblocked in china anytime soon. Matthew when we were approaching china, we came at it from a perspective that china is going to run their network the way they run it and we may agree or disagree, but we have not taken the position as a tech company here in San Francisco that we can dictate how china runs their network. Instead, we said what percentage of our customers are nonproblematic in china . And the answer is about 99 of our customers are nonproblematic. That allowed us to say how can we make the internet better for that 99 . Theres a lot of discussion that has to happen around that 1 , but for the vast majority of the internet, things work very well. Emily matthew prince, ceo of cloudflare, thank you so much for joining us. Carmen chang, thank you as well for joining us. A stock we are watching. Alibaba shares tumbled after a Magazine Article suggested the company may lose another 50 of its value. Alibaba shot back saying the article is inaccurate and misleading. Nintendo has named their new company president. He will be replacing the late and beloved satoru iwata. He has been with nintendo since 2000 as president of nintendo of america, he was instrumental in the wii success. However, iwata left very big shoes to fill. Under his guidance, nintendo had massive hits with pokemon and others. He was president and ceo of nintendo for 13 years. Coming up, the cofounder of tomtom tells us how it will be at the forefront of the driverless car future. Plus more than 150,000 people are headed to San Francisco for the dreamforce conference. What to expect, next. Emily a story we are watching. Twitter says it is adopting stripes mobile adopting tool relay to make it easier to buy products in a link. Amc, burberry, home depot and old navy are working with twitter on this initiative. Twitter says expect more ecommerce announcements in the coming weeks. It has been over a decade since tomtom launched its first mass market gps device. But after quickly dominating the market, google maps came along and made navigation more personal and free. Today tomtom unveiled new technology that will help in the development of driverless cars. That cofounder joins me here in the studio. Thank you so much for joining us. As we were talking about self driving cars, i wonder what is will tomtoms role in that revolution be. Corinne we have been investing in map technology for years. And today we Just Announced the highly automated driving three defense. We are ahead of the competition and we are working with most Car Manufacturers around the world to bring this technology to make it a reality. Emily are you built into cars . Corinne we are built into cars and work with a lot of manufacturers around the world. With volkswagen, we drove driverless from las vegas to los angeles powered by tomtom maps. Emily will we see tomtom maps in apple cars anytime soon . Guest you will see it in maps and traffic, we are really interested in investing in that technology. Emily what is interesting, there are less than a handful of players in this space, and it is hugely valuable technology. Have you guys received any interested buyers . Corinne they are of course very valuable assets. We are the last independent one. I think we will carry on that technology, we are partnering with a lot of people and we will keep this way. Emily have you considered selling . Corinne i think having these assets and having invested for all those years, i think we are right happy to be in the position where we are. Emily why do you think tomtom would be more successful as an independent company . Rather than part of a larger attack company, for example. Corinne our technology is well developed, and i think there are a lot of companies around the world we can work with. Emily how do you see yourself expanding . Would you consider taking on minority investors who can help making tomtom even bigger than it is today . Corinne we do a lot on the Consumer Electronics site. We Just Launched a new watch and with music built in, on your wrist. Activity tracking, and we launched an action cam. We have a lot of different developments. The map is still the big radical innovation. But we also have a lot of other innovations. Emily how do you see improving on the map as we see them now, what is the future of the Mapping Technology other than where you can find it . Where is the Technology Going . Corinne for automobile driving, you need realtime mapping data, and the world is changing all the time. You need Scalable Technology that allows the map to change as the road changes and it is very complex to do. Today we are leading in this field. Emily in five years, where is tomtom . Corinne one of the biggest partners with carmakers to work with the autonomous driving plan. I think we are part of the revolution. Emily cofounder of tomtom, thank you so much for joining us today. Google has tapped an Auto Industry executive to lead his driverless car project. He was named ceo of the self driving car project. He was most recently president of true car and led hyundais u. S. Operations. Google said the company does not plan to manufacture its own cars. Now to dream force. One of the biggest and flashiest events on the tech calendar. We are talking about salesforces annual conference which will take place at a few blocks from here in San Francisco. I will be there. Bloomberg west will be there. In the 13th year, the conference has grown from a small group, to filling a ballroom to over 150,000 attendees. So with all the work that goes into planning an event like dreamforce, what can we expect . Joining me now is the salesforce executive vice president. Obviously this is a huge week for you. What are you most looking forward to . Guest we are so excited because dreamforce is the largest Sales Software conference on the planet. We have 160,000 people registered to attend. This is going to be the biggest and best dreamforce yet. And we are bringing in a cruise ship this year. The dreamboat. Dreamforce is all about innovation, its about one and giving back. That is why people come. It is our largest investment we make and Customer Success and it is the four best days ever. Emily why is sasha della there , why is the new ceo of cisco there, who i will be speaking to . Lynn Everyone Wants to come to dreamforce because it is the at the center of innovation and inspiration. We have incredible speakers, we have the ceo of youtube and we have incredible women pioneers and trail blazers. We have World Championship sports teams. The San Francisco giants, they are going to join us as well. After three days of intense Product Innovation and business, we are going to go zen. We have a mindfulness day. Its going to be an amazing, amazing four days. Emily you have people from hollywood there like goldie hawn. Im going to be speaking with an Adrian Grenier from entourage. Very excited about that. When it comes to salesforces objectives, every year, they talk about some big trend. What is it this year . In enterprise software. Lynn people come to dreamforce to hear about what is next. Were talking about cloud and mobile, data science, the internet of things. You have to come to the main keynote. 1 00 p. M. On wednesday, we have marc benioff with incredible special guests. Not only in the main keynote, but in the showcase, we have over 2000 customers sharing their success stories. Emily everyone knows mobile, cloud and social, but how do they execute and make their companies the future . Lynn they can come to dreamforce and learn. We have over 1500 sessions. If you cant come to San Francisco, we will have 10 Million People watching live, so you can watch online. This is a place not just for salesforce to talk about what is next, but also customers and partners and incredible speakers. It is the place for innovation and a place to talk about where is the future . Emily every year, i look forward to marc benioff. The keynote is certainly a force. He is a force indeed. Lynn we have some incredible surprise guests as well. Emily im looking forward to it. We will be there all week. Lynn and we are also doing the Worlds Largest book drive this year. We are going to raise a million books and i brought some of my favorite looks for you to bring and make the donation. Emily i appreciate it. I should probably bring some of my own books. I appreciate this, thank you so much. Coming up, michelle phans start at just raise 100 million in funding. What does the subscription makeup plan next . And plans for iphones from china. All of that, coming up. Emily time now for our daily byte, one number that tells a lot. Todays number is 10 million. That is the number of iphone sales apple needs to make in its first weekend if it wants to break last years record. But has not released figures for the preorders, but they claim to be on pace to break 2014s record sales. Analysts predict sales of as many as 13 million units. This is the first year that china is one of the countries to sell the smartphone at its introduction. Ipsy, the subscription Makeup Service launched by youtube star michelle phan, who became famous for her makeup tutorials and created the company in 2011. They mail out Beauty Products once a month for a 10 fee once a month. Joining me is the cofounder. Thank you for being here. As i understand it, the most you had raised previously was 3 million. 3 million, to 100 million, that is a huge jump. Here . S the growth story mean, how you attract that kind of investment . Guest i think what our investors saw and what we were doing, is that we were disrupting a very established, large, attractive industry which is the Beauty Industry. As part of doing that, its such a big industry that we need capital to grow and be able to grow versus our competitors in the industry. Emily so, what is the deal here, birch box has a subscription service, jessica alba has her own subscription service. Whats so great about ipsy . Guest what is different is it is so much more than just caught a product. There are five Beauty Products every month. And then we pair that with content that shows you how to use the products. This is working with michelle and our content creators who work out of our studios to create beautiful and educational content on how to use the products that you get. Emily you get 50 worth of stuff for 10, but how much a makeup do people really need . How long our customers sticking around once they sign up . Marcelo they are staying around for a long time because they enjoy the experience. Part of that is just a gift for yourself every month. They are really delighted by all the experience, and the content and find generated by beauty to readers, who are creating videos on youtube and instagram. You are just playing along and having a good time every month. Emily im all about gifts for myself, but how do you afford giving away 40 worth of makeup to every customer a month, basically . Jennifer we worked with an amazing set of partners in the beauty universe. In order to make sure their brand is relevant, they need to be in the hands of the content creators. We work with different Brand Partners who are willing to give us their products in order for us to send them out to engaged audience and connect them with the network of creators we have on youtube and instagram, publishing the best beauty content online. Emily tell me about the community. It is incredibly strong and active. Of course, michelle is part of it. Marcelo the Beauty Industry is totally changing to one with people generating awareness are the content creators. They are on youtube, instagram and snapchat. In the past, it was magazines and the makeup counter. That community is important. We give them tools, access to our studio and access to events, so they can participate and grow their own careers as well. They become heart of the community. Emily 100 million, excited about this. How do you use the money . Jennifer continued investment in the creative space. We believe in content creators and its time to invest in that space and it gives us 100 million more to invest in creators. Emily i think i owe myself a gift. Thank you so much for joining us. That does it for this edition of bloomberg west. Do not miss my interview with benchmark capital bill gurley tomorrow. The following is a paid program. Announcer imagine having skin that looks this beautiful, this flawless, without having to wear foundation. Imagine a product that covers everything but looks and feels like you are wearing nothing. Imagine one product that is clinically shown to make your skin younger looking in just 10 days. And can make you look up to five years younger instantly
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