Understand the issue thoroughly commend the system need to be in a static state. After apple removed the popular bitcoin cap from the app store. Kype withwith us is the ceo of trade help trade hill. Can you get your money in and out of these instruments . With drawls have been halted. Fundamentally, what i think one ofg on here is the the many places that it will be exchanged. I have to disagree. I hear a voice. This isnt a fundamental issue about it going, the this is one of the exchanges on which people trade bitcoin for other currencies. It is not the source code, it is japannregulated entity in that people used to do more than half of the trading day by day here at day by day. Exchangew york stock doesnt say anything about stocks, while technically that would be true in currency or whatever it is, it is important cannott out that if 50 go through, the trading environment goes through goes away. Within the bitcoin community, the diehard believers have problems with the exchange. It is not the people who are wanting to take on bitcoin and use it as a currency to convert their lives to more of a bitcoin way of thinking, it is traders that are trying to make money on it using it as a commodity. You run your own Bitcoin Exchange of ideas suspended trading at one time. What do you think is going on here . We have seen a huge price disparity for quite a while. That was due exclusively to the effect that you could not resolve dollars from it. Is slowingtcoin down, i think the volume has been shifting away from that for years. Quote bitstamp now. It is important to separate bitcoin from that. If you cannot get your dollars out of wells fargo, you do not blame the dollar. It is very rare that that happens. Lets talk about the other regulatory issues here. There is no regulation yet been that is continuing to be a problem. And there is definitely regulation, new york is moving forward with some regulation that should be coming this year. That is the reason you do not in the u. S. Ange right now, and that is the reason im not operating at all right now. Over time can as you see these regulations evolve youre going to see more secure exchanges, along. Come it isp in mind, that located in japan, so if you have your money and wells fargo, you probably feel safe egos within the zen is states i can keep , as long as itn is not on the apple iphone. There will be more and more places in the u. S. That are popping up as one of our acres s tweeted. Anchor about apple, disappointing to see apple turn its back on millions of bitcoin users worldwide. There are a lot of other places , and a lot of other places to use it and traded. All the buying and selling i have ever done has been on the streets of new york. They do not think the exchanges necessary. That is the disparity. What you are talking about trading on the streets of new york, which is a different marketplace. What we see in the hurdles of the exchanges of the u. S. . Is taking a stab at it, and there is so much potential money on the table. We are talking about digital fail, andit will not people are starting to realize that. We will probably see something pretty decent by the end of the year. Matt, can you give us an update on the actual regulations that have been passing . New york has been talking about regulation, but nothing has happened yet. Im not sure is what is what isg as to happening here in new york, but with washington i know a couple of people that are working in bitcoin are talking. One congressman has Bitcoin Bitcoin asked for Campaign Donations to his campaign in has asked for Campaign Donations to this campaign in bitcoin. The family of Matthew Mellon are talking to the u. S. Government and trying to pass regulation with them as well. You do not need regulation for bitcoin to work. As long as the internet survives, bitcoin will be out there. Hink digital concern currently will survive even if bitcoin does not. It is a democratically controlled, decentralized currency, whatever starts working in other Digital Currencies will be picked up and used in the bitcoin source code. What about the real issue of the day today . Can a Digital Currency overcome technical issues . You do not have that with real money. I wonder where the technical issues are. I asked a lawyer this morning, i told them the exchange is down because of technical issues, and he joked that the technical issues were getting money into cases fast enough. That they have written does not work well enough to communicate with bitcoin source code seamlessly. It causes problems, because a lot of people say they do not have the right programmers. This is a that jerod to answer better. Something that jerod could answer better. We continue to see these difficulties of trading, some prices that have been quoted not just 100 higher, but quoted way out of whack with where it is trading elsewhere. What is it about the exchange that tolerates these problems . Historically there had the liquidity and they say that liquidity begets liquidity. If youre not doing an overthecounter trick about a lot of times it is your only option to buy 100,000 or 1 million from bitcoin. That is not true anymore. Many are gaining in volume, and there is a lot of options for those who want to buy large. Olumes bitcoiin of bitcoin when it dropped, and drop the price down, and was hacked back in 2011, there were not any really good options. Had there been, it probably would have died dan. This might be the end now. Well continue to follow this story. Thank you. Coming up, Wyatt Robinette venture capitalist why a prominent venture capitalist headed to the midwest. Welcome back to bloomberg west. Shares of linkedin are falling today after concerns that growth is slowing down at the career networking site after the Company Reported earnings. Shares are down about seven percent of and firstquarter 460 million dollars, marking the fifth straight quarter of falling sales growth. To jumpstart growth, they are writing right media, a data company that helps job seekers. G bright media, a data company that helps job seekers. Mark is joining me, thank you. I would to talk about drive first. After spending 12 years at sequoia, why move to ohio . Andy partner, chris olsen, i, saw the opportunities here. There are 25 of the u. S. U. S. Rch here done in the done in the midwest. You do not have the incubators and a lot of the technology that people could actually stay here and utilize, so people left. Mark andreessen, who studied at the urbana, champaign, so we wanted to allow the best and the brightest here in the midwest, stay in the midwest. We fundamentally believe that today it is the best place in the world to build a company. I spent a lot of time in the startup scene of detroit were talking about the things youre bringing up. If you guys just raised 250 million in funding, specifically what kind of innovations are you seeing out there that you want to put your money behind . We think there is a fundamental shift in technology. If you look at facebook, when Mark Zuckerberg moved from boston to Silicon Valley, he moved from money and access to technologists. For money and access to technologists. Of files stored without ever owning a server, it is all done in the cloud. When you have things in the cloud, the most important thing is to be next to the customer. Have worldclass universities, and worldclass engineers and merging from those ,niversities, urbana, Champaign University of michigan, osu, and they can stay here and build the services and products here, and access the cloud services. That is the one thing they have been they have that lj, but they also needed the capital. So chris and i decided to start direct capital here in columbus, ohio. The waters of earlystage investing are very crowded, how do you navigate the crowds . If you look about it from the midwest per second perspective, the average fund size is what we would consider in Silicon Valley to be seed stage. It isof our funds my understanding were the largest between the coasts, if you want to raise 4 million or 5 million way you have to raise it to the far east or fire west far west. We wanted to grade a place that you could come to an get the same capabilities, networking, and other surveys services and not have to move your company to Silicon Valley or boston or new york. You are the very First Investor in linkedin, and on the board gave what he think of their new efforts to get into different businesses . They are buying more Companies Like holes and right pulse bright. When you think of these efforts . M a hugefan of fan of linkedin, and reid hoffman always asked if he could but together all of the whitecollar workers across the world. I think eventually there will be many more, and if you want to be place to get information when you want to be the service to them. Facebook started as a fixed bloomberg started as a fixed income platform and now you have Bloomberg News and bloomberg tv. Full theways largest of large numbers. It is a unique lap for them a unique and always. They will see different changes and growth as Different Things happen. It is interesting to me about how people are talking today about last quarter. Remember the first couple of years, sitting on that board and trying to figure out how we would make money. It is great to see what they have done their at linkedin. They have a fullservice marketing and recruiting operation message to correa but operation, should sequoia be doing that to . Early 2000, this in we brought in help in recruiting in 2002. Sequoia has been doing that for many years, as have Kleiner Perkins and others. They just did not talk about it too much. Mark andreessen has built a fabulous firm, they have just been more on the forefront of talking about these services. Here at drive k we just hired a up making is heading sure we have all of the best talent in the midwest. Getting talent is just as aboard as marketing and sales services. Cofounderr perkins just recently joined us on bloomberg west. He has been getting a lot of to ther this comparison not the persecution of the jews. And ohio, what do you make of in ohio, what do you make of his comments . . He made some very poor choices and analogies. It is quite sad, because he is a very accomplished man. He made some mistakes. It felt like he is a step back from those comment, but a very poor choice of words. Do you think he should take his name off the door . Any firm or you have multiple founders, he has not been with ny he for many, ma has been with the firm for many, many years. People just call it kp now. When they started sequoia, they did not want to make it about any individuals. Itsonally, we did not call after ourselves, we wanted to create a firm for 30, 40, 50 years. Yes we are the founders, but we think it is about the firm, not any individual. Beall right, we will watching you from out here in Silicon Valley. Biggest one of the movie stars on the planet, we will hear from George Clooney next on the challenges of directing his new movie. Welcome back. George clooney many hats in his latest movie, which opens today. He directed, produced, cowrote, and stars in the film. It is about a platoon of u. S. Orders in world war ii soldiers in world war ii who tried to rescue art from the not these. We talked to him about the challenges of directing. Anybody who thinks you have this worked out, they do not. Successes learn by will because its methods are really easy. Success is when you have a great review, and you think you have it down. It is when they tear into you, and you learn what to believe and what not to believe. That is hard. I still struggle with those kinds of things. If you want more of George Clooney, you can catch the full interview on charlie rose. We will be right back. Bloomberg tv is on the markets, lets get you caught up on todays trading action. All, realxes say it trust in the equity market with up s p up. 9 and the dow within 118 points, even after a disappointing jobs number. Back in 30 minutes with more. You are watching bloomberg west. We have your top headlines. Apple says that bought back 14 billion of stocks, shares her rebounding today after dropping about eight percent post earnings. Apple has been under pressure by activist investor carl icon to use it massive cash pile to buy back more shares. Travel Companies Like expedia, triplett buys her, and zrbits are greening orbit are gaining today. Expedia also saw an increase in Online Ticket are just as very ickete has take i purchases. Leading the way with a market cap of 465 billion. Camera foras a surfers and snowboarders, but go pro has become a big business. Founder nick woodman has a eight himig plan for go pro and started off by asking about the newest camera. This is an evolution of the world cost best selling ultracompact camera. This is the love, and it is 20 smaller and lighter than the previous camera. Battery life by a bunch of new features that make it better than before, and we take the best of rope rope go pro for you. At 199, to 99, and 399, for the black one. Successful because we are just developing products for ourselves. You are a big Action Sports guy your self . Guy, so i amfamily thinking of new use cases for the product, and new accessories that make it easier for people to film themselves not just when they are skiing or surfing, or involved in sports. Also filling their families. I have a oneyearold duchess started walking. Should i be using this . Congratulations. Absolutely. Your personal content of your family will be some of the most meaningful content you will ever capture. I was at the beach with my family, and created an incredible video because that you would think was professionally shot. It in thee and edited using thedio, templates that we provide to people for free, and i created a video that looks like it was rationally produced eric you are not afraid of google glass am about your pitch sounds a lot like what they say about google glass. I can take pictures of my kid and i do not have to look away, i can capture all of these moments. Enough to be looking at the tching aion, and ha plan. Forlass is terrific catching what youre looking at. Take your oneyearold. As soon as they start moving more, do you want to be filming like this, or do you hold your gole to pro, and build them as they walk around the house. If you look at the film i made of my family, none of them are from this perspective of me looking at you and they are from perspectives that make for great content other than just your own personal perspective. You are profitable, you brought in more than 120 5 million last year, one of the numbers looking like . What are the numbers looking like this year . Very good. We are looking at one to two times yearoveryear. Business is good. We are keeping in line with the trend we have set over the past few years for growth. You are profitable, and you are making more money than you did before. People are asking about going public, with the market looking good, and twitter wiling for an ipo. What do you guys think . We areve said before, giving the company prepared, because it is prudent, and it gives us the opportunity, if we feel it is a strategic move for the company that we want to take. As you mentioned, we have profitable from the beginning, so going public is not a necessity. We will see how things shape up. In you, theyestor at a 2. 5 valuation. Hows that working out . Fantastic. I met him through our lead investor, and he is good friends with terry gou. His terry was visiting partner companies, he visited and we hit it off and realize we had a shared vision of the future. It was a fantastic opportunity to not just part of foxconn harder with foxconn, but also a for jerry asnity well terry as well. Have becomethey so successful, and theyre planning to go public, where do they go . Be moreo is trying to of a media company, and i think on this road to the ipo, youre going to hear a lot of that. Investors are always curious about what that next page or next chapter is going to be. The reason that they can point to that is they are a big hit on youtube, people like this video. They are already packaging this video for others like virgin on certain flights. I think there is this next chapter that were still figuring out. It is the go pro branded content. Newbook and twitter are the Cable Companies were you find all this different video, and these people might be like the new cable network. Interesting stuff. We will continue to follow this road to the ipo when it comes to pro. Ipo for go the Worlds Largest toy company is going to hollywood. The lego movie. Welcome back to bloomberg west. Picked by brick about lego has finally built a feature film, the lego movie opens in the artist today opens in theaters today. The road to hollywood wasnt always an easy one for the worlds most popular toys. A look back at the danish companys 82yearold history. The mostost popular toy company in the world. More than 5 billion pieces have been produced. Seconds made lego the , second onlyompany to mattel, but they are still owned by the original family. It is a contraction of lay well in danish play well in danish. He bought the first one taken down and plastic injection mold them and began making plastic ricks brick that will still mold to those today. After suffering a major loss in teeteringheaters i dangerously close to bankruptcy, they began to cater to girls and adults. 2019, there will be more lego people than pete real people on earth. A new lego movie opens this weekend, ringing many characters in the lego universe to life. It has only taken the company 82 years to get the spotlight to itself, but a reputation does not happen overnight. It is painstakingly built, brick by brick. , for more on the lego movie Jon Erlichman by this now joins us now. I am sure you made some awesome lego stuff growing up, so im curious about it. It,as the person that made the film for dessert road user, he joins us now. What was the thing that pushed you ahead with this project . Lego as a kid, and i wanted to make a movie that my kids could watch together with me. When i became apparent, this was a 20 we could play together, and i doubt that were playing together as a fami