SHARE BUT WAS UP A LOT MORE
THAN THAT EARLIER.
APPLE IS DOWN, OUT OF IT DOWN
THE MIRROR 18 CENTS.
CHEVRON, HIGHER PROFIT IS UP
ABOUT IN HALF.
DIFFERENT STORY AT EXXON, THAT
IS THE BIGGEST DRAG ON THE DOW
30.
IT'S UP THREE DOLLARS AND
NEARLY 4%.
AMAZON, A THE BALL PROFITS IN
THE FIRST QUARTER, JOINING US
NOW SOMEONE HAS BEEN INVESTING
FOR TECH FOR FIVE DECADES.
I'VE KNOWN HIM FOR THREE OF
THOSE DECADES.
ALLEN, WELCOME TO THE
PROGRAM.
>> THANK YOU.
IT HAS BEEN A LONG TIME
>> THANK YOU.
IT HAS BEEN A LONG TIME.
>> TOO LONG.
LET'S GET RIGHT AT IT.
YOU DON'T LIKE AMAZON, DO
YOU.
YOU THINK IT'S RUINING
AMERICA.
>> IT'S NOT A QUESTION OF
LIKING IT.
IS IT TOO HUGE.
FROM A NONPOLITICAL STANDPOINT
I'M CONCERNED WHAT IT'S DOING
TO OUR COMMUNITIES IN OUR
COUNTRY AND FRANKLY IT'S
HAPPENING ALL OVER THE WORLD.
GO UP AND DOWN MAIN STREET, GO
TO EVERY SHOPPING CENTER,
SMALL BUSINESSES ARE BEING
AFFECTED, JOBS ARE BEING
AFFECTED AND IS NOT JUST
AMAZON.
IT'S A WHOLE ONLINE.
>> SO WHAT.
WALMART DID THAT A GENERATION
AGO.
>> BUT WALMART DID IT WITH
PHYSICAL LOCATIONS.
THOSE ARE GOING.
WE HAVE VACANCIES AND PEOPLE
HAVE TO REFIGURE PAIRED WHAT
INTERESTS ME IS HOW TECHNOLOGY
IS GOING TO BE USED IN TAKING
OVER THESE NEW SPACES.
I THINK WE HAVE TO FIND, WE
USED TO USE OUR FIVE SENSES.
>> IT'S YOUR FAULT.
IT'S MY CHILDREN'S FAULT.
>> YOU ARE THE GUY WHO
INVESTED IN APPLE IN 1979.
>> RIGHT.
I'M RESPONSIBLE FOR
EVERYTHING.
>> YOU THE GUY WHO INVESTED IN
AOL IN 1982, YOU LAUNCHED THIS
ONLINE STUFF.
YOU LAUNCHED THE SMARTPHONE
ADVENTURE AND I COMPLAIN ABOUT
IT.
>> I ALSO DID THE FIRST CELL
PHONE COMPANY IN 1984.
WE DO KNOW IS GOING TO GO TO
THE POINT WHERE WE CHANGED,
DID YOU EVER READ BOB
PORTMAN'S BOOK BOWLING ALONE?
WHEN YOU TALK ABOUT HOW
COMMUNITIES ARE BREAKING DOWN,
PEOPLE ARE JUST, OUR KIDS,
YOUR GRANDCHILDREN, THEY
COMMUNICATE BY TEXT.
IT'S ALL BECAUSE WE BECOME A
UNIDIMENSIONAL EXPERIENCE.
WE WATCH ON THE SCREEN,.
>> I'VE GOT MY GRANDCHILDREN
SPREAD AROUND THE WORLD FROM
NEW ZEALAND MASSACHUSETTS,
FLORIDA, ALL OVER THE PLACE.
WHAT YOU GONNA DO ABOUT IT.
>> THAT'S THE CHALLENGE,
THAT'S WHAT EXCITES ME, NEW
TECHNOLOGY CONCEPT, WE SAT
COMPANY CALLED BETA OUTCOME IS
PEOPLE COMING IN WITH
EXPONENTIAL ACTIVITIES IN THE
SHOPPING CENTERS, THEY'RE
GOING TO BE BIG ONES, SMALL
ONES FOR LOCALS, THE CHANGE
DRAMATICALLY, I THINK AND IT
WILL BE, YOUR GONNA GO FOR THE
OLD REASON IS YOU WANT TO
SMELL SOMETHING OR TOUCH
SOMETHING OR FEEL IT AND IT
WILL BE AN EXCITING EVENT.
>> SO THAT'S WHAT YOU'RE
INVESTING.
>> YES, THAT'S WHERE THE
OPPORTUNITIES ARE.
>> I THOUGHT HE WOULD SAY
ARTIFICIAL INTELLIGENCE.
USING BIT COIN AS AN
INTERMEDIARY FOR MONEY
TRANSFER.
IT WAS ACTUALLY IN AVCO RUN BY
AN AMERICAN WOMAN WHO MOVED
AFTER TO RUN THIS AND HAS DONE
VERY WELL.
THAT'S OUR USING IT, NOT
BETTING ON THE CLIENT
SPECIFICALLY.
>> IF I WANTED TO SEE THE
FUTURE THE WAY ALAN WOULD LIKE
TO SEE THE FUTURE, IF I WANTED
TO INVEST IN IT YOU WOULD
INVEST IN THE EXPERIENCE, A
COMPANY WHICH PROVIDES A NEW
KIND OF EXPERIENCE.
>> DEFINITELY WE'VE INVESTED
IN ARTIFICIAL INTELLIGENCE AND
MACHINE LEARNING, WE'VE GOT A
COMPANY CALLED WORK FUSION,
WE'VE JUST DONE A LOT OF
COMPANY.
>> WHAT WAS THE BIGGEST
MISTAKE YOU EVER MADE AS AN
>> YOU WANT TO AGGRAVATE ME,
I'VE SAID ON TELEVISION AND IN
EVERY MEETING BECAUSE I ALWAYS
GET ASKED.
I WAS PAROCHIAL AND WHEN I SAW
STARBUCKS IN 19, THERE WERE
FIVE STORES, HOWARD SCHULTZ
LIKES TO REMIND ME OF THAT,
WHEN I THOUGHT WITH FIVE
STORES IN SEATTLE AND SOMEONE
IN MY WEST COAST SAID THERE'S
A COFFEE SHOP OUT HERE THAT'S
REALLY TERRIFIC, I SAID WHAT
WE NEED ANOTHER COFFEE SHOP
FOR.
THERE'S THREE ON EVERY BLOCK
AND UNFORTUNATELY I DIDN'T SEE
THE EXPONENTIAL EFFECT OF WHAT
STARBUCKS WAS PRETTY WAS NOT A
COFFEE SHOP, IT WAS A PLACE TO
CONGREGATE AND HAVE AN
EXPERIENCE.
>> WOULD YOU PUT MONEY TO
STARBUCKS NOW?
>> I DON'T THINK SO, BUT THERE
ARE STILL PEOPLE WHO COME IN
IN A MONTH DOESN'T GO BY
WITHOUT SEEING SOMEONE HAS A
NEW COFFEE SHOP CONCEPT OR THE
LATEST ONE I SAW WHICH WAS
VERY GOOD IS CALLED JAX.
HAVE YOU HEARD OF IT?
THEY'VE GOT FIVE OR TEN
STORES.
>> DID YOU INVEST.
>> I JUST SAW THE DEAL
RECENTLY.
THE MOST INTERESTING THING IS
THE STARTUP WORLD IS ON FIRE
AROUND THIS COUNTRY TODAY.
NEW YORK IS PROBABLY A GOOD
EXAMPLE OF IT, BUT MAYBE ONE
OF THE BEST, WE SEE LITERALLY
BETWEEN 75 AND 100 NEW DEALS
EVERY SINGLE WEEK.
OUR L.A. OFFICE SEES BETWEEN
25 TO 50 EVERY SINGLE WEEK.
>> HOLD ON A SECOND.
>> IT'S HARD TO BELIEVE BUT
IT'S HAPPENING IN COLUMBUS
OHIO, INDIANAPOLIS.
>> YOU'RE SITTING ON A CHUNKY
CAPITAL AND THESE STARTUPS
COME TO YOU AND SAY THIS IS
THE IDEA, THIS IS HOW WE DO
IT, GIVE US THE MONEY AND
THAT'S WHAT THEY DO.
>> YEAH, THAT'S THE WAY.
THESE HUNDREDS THAT COME AT
YOU IN ANY GIVEN WEEK OR
MONTH, HOW MANY DO ACTUALLY
PUT MONEY INTO.
>> AND SAY WE DO ABOUT 18 A
YEAR A LITTLE MORE THAN ONE A
MONTH BUT WE ALSO DO A SEED
PROGRAM WOULD PROBABLY DO 25
SEEDS A YEAR.
THOSE ARE JUST KIND OF GETTING
US IN THE DOOR AND TRYING TO
GET TO KNOW SOMETHING AND TAKE
YOUR CHANCE AT A MUCH EARLIER
STAGE SO WE CAN PUT A LARGER
AMOUNT OF CAPITAL AT A LATER
DATE.
>> ALMOST ALL THE TIME.
A COUPLE QUICK QUESTIONS.
>> I'M SURPRISED CAP ME THIS
LONG.
>> HAD TO BE VERY ENTERTAINING
OTHERWISE YOU'RE OUT HERE.
YOU INVESTED IN APPLE IN
1979.
HOW LONG DID YOU HOLD THAT
INVESTMENT.
>> NOT LONG ENOUGH.
WE ACTUALLY DISTRIBUTED THE
SHARES TO ALL INVESTORS ABOUT
A YEAR AFTER.
I OFTEN WONDERED WHO IF ANYONE
LOST THE STOCK AND FORGOT
ABOUT IT OR WHETHER THEY ALL
DUMPED IT THE NEXT DAY.
OBVIOUSLY I DIDN'T.
>> THIS IS INCREDIBLE.
YOU JUST GOT FIVE MINUTES OF
AIRTIME.
THAT'S THE LONGEST INTERVIEW
WE'VE EVER DONE EXCEPT FOR,
SEVEN MINUTES ON THE AIR.
THAT'S THE RECORD.
ON MONDAY AT ABOUT TEN IN THE
AFTERNOON EASTERN TIME WE GET
THE RATINGS BUT TODAY, SO WE
WILL BE ABLE TO TELL IF YOUR
RATES HELP TRAITS OR DIDN'T
HELP RATES.
WILL KNOW EXACTLY WHAT
HAPPENED.
IF YOU DIDN'T RATE, YOU NEVER
WILL BE ON THE SHOW AGAIN.
>> I'LL GET INVITED TO YOUR
COMPETITORS.
[LAUGHTER]
YOU DO FOLLOW OUR COMPETITORS,
DON'T YOU.
>> I DO.
>> WHY DON'T YOU COME WITH US
MORE OFTEN.
>> YOU DON'T INVITE ME, NEIL
INVITES ME ONCE IN A WHILE
WHEN HE WANTS TO ATTACK ME.
>> YOUR DEMOCRAT?
[LAUGHTER]
WOULD YOU LIKE TO COME BACK ON
THIS PROGRAM.
>> SURE.
WE HAVE FUN.
I CAN REMEMBER.
WHERE WAS IT WHEN I KNEW YOU.
>> IT WAS CNN.
ALAN, I'VE GOT TO SAY, THAT
WAS A PLEASURE.
TAKEN OFF JUST LIKE THAT.