WEBVTT - Dialpad's Walker on Shifting Desk-Based Phone to Cloud (Audio)

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<v Speaker 1>Broadcasting live to New York Bloomberg eleventh Rio to Washington,

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<v Speaker 1>d C. Bloomberg Night, Roston Bloomberg twelve hundred to San Francisco,

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<v Speaker 1>Bloomberg to the country, Shies at Damn General one, and

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<v Speaker 1>around the globe the Bloomberg Radio plus David Bloomberg got gone.

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<v Speaker 1>This is taking Stock. Coming up on taking Stock. We're

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<v Speaker 1>gonna take stock of the death of the office telephone.

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<v Speaker 1>You know, Kathleen. Office telephones were once ubiquitous, but now

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<v Speaker 1>we see them disappearing. And we're gonna talk to Craig Walker,

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<v Speaker 1>the chief executive of dial Pad, all about that a

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<v Speaker 1>pure cloud phone taking down the forty two billion dollars

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<v Speaker 1>communications market. Craig Walker has some big ideas and he's

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<v Speaker 1>taking some big steps in that direction. Now let's take

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<v Speaker 1>a big step towards the Bloomberg business. Flash to Katherine

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<v Speaker 1>Cowdery in the newsroom. Thank you, Kathleene Well Bloomberg. Taking

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<v Speaker 1>Stock is brought to you by National Realty Managers of

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<v Speaker 1>New York City cash Flow real Estate, providing you twelve

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<v Speaker 1>percent annualized returned with immediate monthly distributions. See them at

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<v Speaker 1>n r I a dot net. The stock market is

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<v Speaker 1>declining as earlier games fade. Utilities and real estate companies

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<v Speaker 1>are down. The most is bond yields RALLY. Investors now

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<v Speaker 1>see a sixty one chance of the Federal Reserve raising

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<v Speaker 1>rates in December. That's up ten percentage points from last week.

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<v Speaker 1>David Zervo's at Jeffreys discussed the Federal Reserve on Bloomberg

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<v Speaker 1>TV earlier today. In a lot of ways, they're searching

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<v Speaker 1>for what they're doing, so I think they're flying sometimes

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<v Speaker 1>as blind as we are. They want to be attentive,

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<v Speaker 1>they want to feel like they've got their pulse on everything,

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<v Speaker 1>but they're kind of as confused as the market, and

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<v Speaker 1>their models don't generally work. They don't exactly understand what

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<v Speaker 1>the markets sort of stay saying back to them when

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<v Speaker 1>they stay We checked the markets every fifteen minutes throughout

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<v Speaker 1>the trading day. Down Industrial average is currently down one

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<v Speaker 1>hundred six points. That's the loss of six tents of

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<v Speaker 1>a percent trading at eighteen thousand, one forty seven. SMP

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<v Speaker 1>five foundered down thirteen point six tents of a percent

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<v Speaker 1>at twenty eight, then AZDAC is down twenty points four

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<v Speaker 1>tens of a percent at fifty two eighty west SIPs

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<v Speaker 1>of Intermedia Crude oil down at seventeen cents a barrel,

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<v Speaker 1>a third of a percent at forty eight sixty four.

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<v Speaker 1>Speckled is down three percent right now, a drop of

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<v Speaker 1>thirty eight dollars ninety cents. The ounced trading at twelve

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<v Speaker 1>seventy eight. The ten Your Treasury it down seventeen thirty seconds,

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<v Speaker 1>striving to yield up to one point sixty eight twelve.

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<v Speaker 1>Among today's top business stories, Google embarking on a wholesale

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<v Speaker 1>revamp of its mobile phone strategy that's unveiled a pair

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<v Speaker 1>of slick and powerful handsets for the first time will

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<v Speaker 1>go head to head with Apple's iconic iPhone. And now

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<v Speaker 1>let's get an update of some of the other stories

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<v Speaker 1>were following today. I'm Bloomberg Radio. Thank you Katherine from

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<v Speaker 1>the Bloomberg newsroom. I'm John Mauder. Vice presidential candidates Mike

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<v Speaker 1>Pence and Tim Caine will square off tonight in Virginia.

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<v Speaker 1>Bloomberg's Michael Barr has a preview Pens during a rally

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<v Speaker 1>in Ashland, Virginia. Gave a preview of what he might

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<v Speaker 1>talk about or his record on foreign affairs alone could

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<v Speaker 1>take out the whole ninety minutes and it would be

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<v Speaker 1>pretty picture. Jane says he's been preparing for tonight's debate,

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<v Speaker 1>so it's good. I mean, you just gotta just gotta

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<v Speaker 1>beat myself. A recent Bloomberg Politics national poll found that

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<v Speaker 1>about a quarter of likely voters we're not sure how

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<v Speaker 1>they feel about either VP candidate Michael Barr. Bloomberg Radio

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<v Speaker 1>and join us for live coverage of tonight's debate beginning

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<v Speaker 1>at eight thirty pm Mall Street Time on both Bloomberg

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<v Speaker 1>Television and radio. The US has ended peace talks with

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<v Speaker 1>Russia over a ceasefire in Syria. Speaking in Brussels today,

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<v Speaker 1>Secretary of State John Kerry expressed his frustration Russia has

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<v Speaker 1>turned a blind eye to US odds the florable use

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<v Speaker 1>of these weapons of war that he has chosen carry.

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<v Speaker 1>Criticized Russia for ignoring the Assad regime's use of chlorine

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<v Speaker 1>gas and barrel bombs against its own citizens. There was

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<v Speaker 1>some surprising testimony in the so called Bridgegate scandal trial

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<v Speaker 1>in New Jersey. The star witness said the New Jersey

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<v Speaker 1>Governor Chris Christi and New York Governor Andrew Cuomo agree

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<v Speaker 1>that the agency owning the bridge should issue a false

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<v Speaker 1>report and a potential race for New York State lawmakers

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<v Speaker 1>has become a campaign issue in this fall's elections, with

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<v Speaker 1>many challengers saying lawmakers don't deserve more money following a

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<v Speaker 1>wave of corruption arrests, and appointed commission is now considering

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<v Speaker 1>whether to recommend an increase for legislators who seventy nine thousand,

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<v Speaker 1>five hundred dollar a year salary has stayed flat since

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<v Speaker 1>Global News twenty four hours a day, power by more

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<v Speaker 1>than twenty six hundred journalists and analysts and more than

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<v Speaker 1>a hundred and twenty countries. I'm John Mauder, this is Bloomberg. Catherine,

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<v Speaker 1>thank you, and now let's get a quick update of

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<v Speaker 1>those benchmarks. Down Dustrial leverage down ninety nine point at

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<v Speaker 1>eighteen thousand, one hundred fifty four, smp F founder down

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<v Speaker 1>twelve point eight, NASTAC lowered by eighteen points, trading at

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<v Speaker 1>fifty two eighty two. And that's a Bloomberg business flash.

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<v Speaker 1>You're listening, you're taking stock with pin box at Kathleen

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<v Speaker 1>Hayes on Bloomberg Radio. More than one hundred seventy one

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<v Speaker 1>thousand registered attendees from eighty three countries in San Francisco

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<v Speaker 1>this week to attend dream Force. It's about a very

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<v Speaker 1>important event where a very important guest that we're going

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<v Speaker 1>to talk to now is coming up with some big announcements.

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<v Speaker 1>Of course, this is an event sponsored by Salesforce. Craig

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<v Speaker 1>Walker is a founder and CEO of dial Pad, and

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<v Speaker 1>he is introducing some products this week that he thinks

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<v Speaker 1>will start his plan to take down the forty two

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<v Speaker 1>billion dollar communications market. Craig, Welcome to the show. Yeah, hey,

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<v Speaker 1>thanks for having me. So let's start with what exactly

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<v Speaker 1>it is that you envision this is You've got a

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<v Speaker 1>you've got a strategy that's simple and also very complicated.

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<v Speaker 1>What are you introducing and why is it so important

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<v Speaker 1>to Salesforce in the world. Sure thing, Our our entire

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<v Speaker 1>business is built around kind of a future modern workers,

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<v Speaker 1>so meaning getting away from deast phones. There's adon deast

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<v Speaker 1>phones and U asked that no one is using anymore.

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<v Speaker 1>So we've built at bal Pad, a cloud based unified

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<v Speaker 1>communication system that works with your cell phone, your tablet,

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<v Speaker 1>your desktop, your laptop. And so what we're announcing a

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<v Speaker 1>dream Force is building that directly into their new Lightning interface.

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<v Speaker 1>So if you're a sales rep using using Salesforce all

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<v Speaker 1>day long, you have all your call PDX phone features

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<v Speaker 1>built right into the dream Force interface for the Salesforce interface,

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<v Speaker 1>and you write the software for this. Yeah. So my

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<v Speaker 1>co founders and I used to run the Google Voice team,

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<v Speaker 1>so we left to go build basically Google Voice for enterprises,

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<v Speaker 1>and we built the entire back end platform as well

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<v Speaker 1>as the front end software that that the end user sees.

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<v Speaker 1>So you have been at this for some time. What

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<v Speaker 1>is the what is the in a nutshell, the technology,

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<v Speaker 1>how it's developed, or what the what is the key

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<v Speaker 1>advance now that is moving all of this forward? Yeah,

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<v Speaker 1>So the key advances, like just in the industry in general,

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<v Speaker 1>is businesses are moving to the cloud. They're moving to

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<v Speaker 1>the cloud for their email, whether it's Google Apps or

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<v Speaker 1>Office three. They're using things like Salesforce for their sales

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<v Speaker 1>tracking or their customer relationship management stuff. And that frees

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<v Speaker 1>the worker from having to sit at their desk in

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<v Speaker 1>the office doing their work. So now they can work

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<v Speaker 1>from anywhere on any device. And if that's the case,

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<v Speaker 1>they need to have a phone system that goes with

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<v Speaker 1>them to do that. Having said that, I'm wondering if

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<v Speaker 1>you can explain a little bit more about the front

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<v Speaker 1>end and the back end, because as you described at

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<v Speaker 1>the very beginning, there are the sea of phones sitting

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<v Speaker 1>on desks all over the world that never ring, at

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<v Speaker 1>least you don't hear them. Bring anymore to your exactly right.

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<v Speaker 1>And even when an employee sitting at their desk, usually

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<v Speaker 1>if they're on the phone, they'll pull out their own

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<v Speaker 1>cell phone to do it, even with a thousand dollar

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<v Speaker 1>Cisco phone in front of them. So the technology that

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<v Speaker 1>we use is what's called weber TC and it was

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<v Speaker 1>this communications technology that Google open sourced a few years ago.

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<v Speaker 1>And so the nice thing is we get voice and

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<v Speaker 1>video and all this great technology effectively for free from Google,

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<v Speaker 1>and anyone can use it. And they improve that every

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<v Speaker 1>six weeks when they push a new version of their

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<v Speaker 1>Chrome browser. So you end up being built on a

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<v Speaker 1>platform that just gets better and better the more the

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<v Speaker 1>older it gets. And so that that really fits in

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<v Speaker 1>well to the dynamic of people being able to work

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<v Speaker 1>from their laptop or anywhere they have an Internet connection.

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<v Speaker 1>Now they can just have their phone system with them

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<v Speaker 1>wherever they go. I just want to repeat just a

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<v Speaker 1>second that what it is web rt C and it

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<v Speaker 1>stands for real time communications capabilities, right, which is interesting

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<v Speaker 1>to me too because the phone, for example, before we

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<v Speaker 1>had phones, we didn't have text messages, right. And now

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<v Speaker 1>so many people much actually to my chagrin too a

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<v Speaker 1>certain extent, are so loath to make a phone call

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<v Speaker 1>that I think a phone call has become a very

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<v Speaker 1>powerful thing to do. Wow, somebody actually called me on

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<v Speaker 1>my phone, right, Um, So this is part of the

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<v Speaker 1>whole thing that the nature of keem ndication is changing

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<v Speaker 1>because of of these these devices that we carry. I mean,

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<v Speaker 1>they're changing our lives. They have changed well in they

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<v Speaker 1>in your your traditional phone call. You think about it,

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<v Speaker 1>it has to do much more than just voice. Like that,

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<v Speaker 1>fundamer should your work. Fundamers should be able to receive

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<v Speaker 1>a text, it should be able to receive a picture.

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<v Speaker 1>There's no reason you'd have to give out your personal

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<v Speaker 1>cell number to be able to get a text from

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<v Speaker 1>a customer. And if you look at like incoming freshmen

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<v Speaker 1>in college today, we're born in they're they're made for texting.

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<v Speaker 1>They won't read emails and they won't get on the

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<v Speaker 1>phone to talk. So we have a in fact, We're

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<v Speaker 1>just deployed at Dennison University, Ohio, where now the professors

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<v Speaker 1>and all the employees of the school can use their

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<v Speaker 1>work number to text with their students. So it really

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<v Speaker 1>needs to do much more than just what a phone

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<v Speaker 1>number used to be able to do. Craig, I got

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<v Speaker 1>to get a lot into a little bit of time here.

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<v Speaker 1>Can you give us a cost comparison and then tell

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<v Speaker 1>me one of the company that's doing web RTC really well,

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<v Speaker 1>um so cost comparison against a traditional like TBX vendor

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<v Speaker 1>like a Cisco orro Va, we probably save you about

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<v Speaker 1>seventy a month just because you have lower lower operating costs,

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<v Speaker 1>lower I T cost and then just lower to lefty

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<v Speaker 1>costs as well. Alright, and if someone else yes, and

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<v Speaker 1>then someone else who does it, well, you know we

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<v Speaker 1>were we were the first to adopt webert you see,

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<v Speaker 1>in a commercial sense, back in and so we've been

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<v Speaker 1>only on it for the last five years. I don't

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<v Speaker 1>really know anyone else who's adopted it that well. There

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<v Speaker 1>are some video some video folks out there using it,

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<v Speaker 1>but I really I really don't know who does it

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<v Speaker 1>well on the left side. Thanks very much, Craig, Walker

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<v Speaker 1>is the founder and the chief executive of dial Pad.

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<v Speaker 1>He was the creator of Google Voice and he is

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<v Speaker 1>now the chief executive company that's trying to remake the

0:10:52.120 --> 0:11:01.720
<v Speaker 1>telephone business. This is Bloomberg taking Stock. Bloomber taking Stock

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<v Speaker 1>is brought to you by Sector Spider ETFs. Why by

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<v Speaker 1>Visit sector spdrs dot com or call one eighth six

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