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