Speaker 1: Broadcasting live to New York Bloomberg eleventh Rio to Washington,
Speaker 1: d C. Bloomberg Night, Roston Bloomberg twelve hundred to San Francisco,
Speaker 1: Bloomberg to the country, Shies at Damn General one, and
Speaker 1: around the globe the Bloomberg Radio plus David Bloomberg got gone.
Speaker 1: This is taking Stock. Coming up on taking Stock. We're
Speaker 1: gonna take stock of the death of the office telephone.
Speaker 1: You know, Kathleen. Office telephones were once ubiquitous, but now
Speaker 1: we see them disappearing. And we're gonna talk to Craig Walker,
Speaker 1: the chief executive of dial Pad, all about that a
Speaker 1: pure cloud phone taking down the forty two billion dollars
Speaker 1: communications market. Craig Walker has some big ideas and he's
Speaker 1: taking some big steps in that direction. Now let's take
Speaker 1: a big step towards the Bloomberg business. Flash to Katherine
Speaker 1: Cowdery in the newsroom. Thank you, Kathleene Well Bloomberg. Taking
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Speaker 1: n r I a dot net. The stock market is
Speaker 1: declining as earlier games fade. Utilities and real estate companies
Speaker 1: are down. The most is bond yields RALLY. Investors now
Speaker 1: see a sixty one chance of the Federal Reserve raising
Speaker 1: rates in December. That's up ten percentage points from last week.
Speaker 1: David Zervo's at Jeffreys discussed the Federal Reserve on Bloomberg
Speaker 1: TV earlier today. In a lot of ways, they're searching
Speaker 1: for what they're doing, so I think they're flying sometimes
Speaker 1: as blind as we are. They want to be attentive,
Speaker 1: they want to feel like they've got their pulse on everything,
Speaker 1: but they're kind of as confused as the market, and
Speaker 1: their models don't generally work. They don't exactly understand what
Speaker 1: the markets sort of stay saying back to them when
Speaker 1: they stay We checked the markets every fifteen minutes throughout
Speaker 1: the trading day. Down Industrial average is currently down one
Speaker 1: hundred six points. That's the loss of six tents of
Speaker 1: a percent trading at eighteen thousand, one forty seven. SMP
Speaker 1: five foundered down thirteen point six tents of a percent
Speaker 1: at twenty eight, then AZDAC is down twenty points four
Speaker 1: tens of a percent at fifty two eighty west SIPs
Speaker 1: of Intermedia Crude oil down at seventeen cents a barrel,
Speaker 1: a third of a percent at forty eight sixty four.
Speaker 1: Speckled is down three percent right now, a drop of
Speaker 1: thirty eight dollars ninety cents. The ounced trading at twelve
Speaker 1: seventy eight. The ten Your Treasury it down seventeen thirty seconds,
Speaker 1: striving to yield up to one point sixty eight twelve.
Speaker 1: Among today's top business stories, Google embarking on a wholesale
Speaker 1: revamp of its mobile phone strategy that's unveiled a pair
Speaker 1: of slick and powerful handsets for the first time will
Speaker 1: go head to head with Apple's iconic iPhone. And now
Speaker 1: let's get an update of some of the other stories
Speaker 1: were following today. I'm Bloomberg Radio. Thank you Katherine from
Speaker 1: the Bloomberg newsroom. I'm John Mauder. Vice presidential candidates Mike
Speaker 1: Pence and Tim Caine will square off tonight in Virginia.
Speaker 1: Bloomberg's Michael Barr has a preview Pens during a rally
Speaker 1: in Ashland, Virginia. Gave a preview of what he might
Speaker 1: talk about or his record on foreign affairs alone could
Speaker 1: take out the whole ninety minutes and it would be
Speaker 1: pretty picture. Jane says he's been preparing for tonight's debate,
Speaker 1: so it's good. I mean, you just gotta just gotta
Speaker 1: beat myself. A recent Bloomberg Politics national poll found that
Speaker 1: about a quarter of likely voters we're not sure how
Speaker 1: they feel about either VP candidate Michael Barr. Bloomberg Radio
Speaker 1: and join us for live coverage of tonight's debate beginning
Speaker 1: at eight thirty pm Mall Street Time on both Bloomberg
Speaker 1: Television and radio. The US has ended peace talks with
Speaker 1: Russia over a ceasefire in Syria. Speaking in Brussels today,
Speaker 1: Secretary of State John Kerry expressed his frustration Russia has
Speaker 1: turned a blind eye to US odds the florable use
Speaker 1: of these weapons of war that he has chosen carry.
Speaker 1: Criticized Russia for ignoring the Assad regime's use of chlorine
Speaker 1: gas and barrel bombs against its own citizens. There was
Speaker 1: some surprising testimony in the so called Bridgegate scandal trial
Speaker 1: in New Jersey. The star witness said the New Jersey
Speaker 1: Governor Chris Christi and New York Governor Andrew Cuomo agree
Speaker 1: that the agency owning the bridge should issue a false
Speaker 1: report and a potential race for New York State lawmakers
Speaker 1: has become a campaign issue in this fall's elections, with
Speaker 1: many challengers saying lawmakers don't deserve more money following a
Speaker 1: wave of corruption arrests, and appointed commission is now considering
Speaker 1: whether to recommend an increase for legislators who seventy nine thousand,
Speaker 1: five hundred dollar a year salary has stayed flat since
Speaker 1: Global News twenty four hours a day, power by more
Speaker 1: than twenty six hundred journalists and analysts and more than
Speaker 1: a hundred and twenty countries. I'm John Mauder, this is Bloomberg. Catherine,
Speaker 1: thank you, and now let's get a quick update of
Speaker 1: those benchmarks. Down Dustrial leverage down ninety nine point at
Speaker 1: eighteen thousand, one hundred fifty four, smp F founder down
Speaker 1: twelve point eight, NASTAC lowered by eighteen points, trading at
Speaker 1: fifty two eighty two. And that's a Bloomberg business flash.
Speaker 1: You're listening, you're taking stock with pin box at Kathleen
Speaker 1: Hayes on Bloomberg Radio. More than one hundred seventy one
Speaker 1: thousand registered attendees from eighty three countries in San Francisco
Speaker 1: this week to attend dream Force. It's about a very
Speaker 1: important event where a very important guest that we're going
Speaker 1: to talk to now is coming up with some big announcements.
Speaker 1: Of course, this is an event sponsored by Salesforce. Craig
Speaker 1: Walker is a founder and CEO of dial Pad, and
Speaker 1: he is introducing some products this week that he thinks
Speaker 1: will start his plan to take down the forty two
Speaker 1: billion dollar communications market. Craig, Welcome to the show. Yeah, hey,
Speaker 1: thanks for having me. So let's start with what exactly
Speaker 1: it is that you envision this is You've got a
Speaker 1: you've got a strategy that's simple and also very complicated.
Speaker 1: What are you introducing and why is it so important
Speaker 1: to Salesforce in the world. Sure thing, Our our entire
Speaker 1: business is built around kind of a future modern workers,
Speaker 1: so meaning getting away from deast phones. There's adon deast
Speaker 1: phones and U asked that no one is using anymore.
Speaker 1: So we've built at bal Pad, a cloud based unified
Speaker 1: communication system that works with your cell phone, your tablet,
Speaker 1: your desktop, your laptop. And so what we're announcing a
Speaker 1: dream Force is building that directly into their new Lightning interface.
Speaker 1: So if you're a sales rep using using Salesforce all
Speaker 1: day long, you have all your call PDX phone features
Speaker 1: built right into the dream Force interface for the Salesforce interface,
Speaker 1: and you write the software for this. Yeah. So my
Speaker 1: co founders and I used to run the Google Voice team,
Speaker 1: so we left to go build basically Google Voice for enterprises,
Speaker 1: and we built the entire back end platform as well
Speaker 1: as the front end software that that the end user sees.
Speaker 1: So you have been at this for some time. What
Speaker 1: is the what is the in a nutshell, the technology,
Speaker 1: how it's developed, or what the what is the key
Speaker 1: advance now that is moving all of this forward? Yeah,
Speaker 1: So the key advances, like just in the industry in general,
Speaker 1: is businesses are moving to the cloud. They're moving to
Speaker 1: the cloud for their email, whether it's Google Apps or
Speaker 1: Office three. They're using things like Salesforce for their sales
Speaker 1: tracking or their customer relationship management stuff. And that frees
Speaker 1: the worker from having to sit at their desk in
Speaker 1: the office doing their work. So now they can work
Speaker 1: from anywhere on any device. And if that's the case,
Speaker 1: they need to have a phone system that goes with
Speaker 1: them to do that. Having said that, I'm wondering if
Speaker 1: you can explain a little bit more about the front
Speaker 1: end and the back end, because as you described at
Speaker 1: the very beginning, there are the sea of phones sitting
Speaker 1: on desks all over the world that never ring, at
Speaker 1: least you don't hear them. Bring anymore to your exactly right.
Speaker 1: And even when an employee sitting at their desk, usually
Speaker 1: if they're on the phone, they'll pull out their own
Speaker 1: cell phone to do it, even with a thousand dollar
Speaker 1: Cisco phone in front of them. So the technology that
Speaker 1: we use is what's called weber TC and it was
Speaker 1: this communications technology that Google open sourced a few years ago.
Speaker 1: And so the nice thing is we get voice and
Speaker 1: video and all this great technology effectively for free from Google,
Speaker 1: and anyone can use it. And they improve that every
Speaker 1: six weeks when they push a new version of their
Speaker 1: Chrome browser. So you end up being built on a
Speaker 1: platform that just gets better and better the more the
Speaker 1: older it gets. And so that that really fits in
Speaker 1: well to the dynamic of people being able to work
Speaker 1: from their laptop or anywhere they have an Internet connection.
Speaker 1: Now they can just have their phone system with them
Speaker 1: wherever they go. I just want to repeat just a
Speaker 1: second that what it is web rt C and it
Speaker 1: stands for real time communications capabilities, right, which is interesting
Speaker 1: to me too because the phone, for example, before we
Speaker 1: had phones, we didn't have text messages, right. And now
Speaker 1: so many people much actually to my chagrin too a
Speaker 1: certain extent, are so loath to make a phone call
Speaker 1: that I think a phone call has become a very
Speaker 1: powerful thing to do. Wow, somebody actually called me on
Speaker 1: my phone, right, Um, So this is part of the
Speaker 1: whole thing that the nature of keem ndication is changing
Speaker 1: because of of these these devices that we carry. I mean,
Speaker 1: they're changing our lives. They have changed well in they
Speaker 1: in your your traditional phone call. You think about it,
Speaker 1: it has to do much more than just voice. Like that,
Speaker 1: fundamer should your work. Fundamers should be able to receive
Speaker 1: a text, it should be able to receive a picture.
Speaker 1: There's no reason you'd have to give out your personal
Speaker 1: cell number to be able to get a text from
Speaker 1: a customer. And if you look at like incoming freshmen
Speaker 1: in college today, we're born in they're they're made for texting.
Speaker 1: They won't read emails and they won't get on the
Speaker 1: phone to talk. So we have a in fact, We're
Speaker 1: just deployed at Dennison University, Ohio, where now the professors
Speaker 1: and all the employees of the school can use their
Speaker 1: work number to text with their students. So it really
Speaker 1: needs to do much more than just what a phone
Speaker 1: number used to be able to do. Craig, I got
Speaker 1: to get a lot into a little bit of time here.
Speaker 1: Can you give us a cost comparison and then tell
Speaker 1: me one of the company that's doing web RTC really well,
Speaker 1: um so cost comparison against a traditional like TBX vendor
Speaker 1: like a Cisco orro Va, we probably save you about
Speaker 1: seventy a month just because you have lower lower operating costs,
Speaker 1: lower I T cost and then just lower to lefty
Speaker 1: costs as well. Alright, and if someone else yes, and
Speaker 1: then someone else who does it, well, you know we
Speaker 1: were we were the first to adopt webert you see,
Speaker 1: in a commercial sense, back in and so we've been
Speaker 1: only on it for the last five years. I don't
Speaker 1: really know anyone else who's adopted it that well. There
Speaker 1: are some video some video folks out there using it,
Speaker 1: but I really I really don't know who does it
Speaker 1: well on the left side. Thanks very much, Craig, Walker
Speaker 1: is the founder and the chief executive of dial Pad.
Speaker 1: He was the creator of Google Voice and he is
Speaker 1: now the chief executive company that's trying to remake the
Speaker 1: telephone business. This is Bloomberg taking Stock. Bloomber taking Stock
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