WHEN: Today, Thursday, July 7th
WHERE: CNBC's "Closing Bell"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with LinkedIn Co-Founder Reid Hoffman on CNBC's "Closing Bell" (M-F, 3PM-5PM ET) today, Thursday, July 7th. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000532469.
All references must be sourced to CNBC.
Hoffman on AI:
10 TO 20 YEARS FROM NOW, IF YOU'RE GOING TO BE AN EFFECTIVE LAWYER OR DOCTOR, AN EFFECTIVE FINANCIAL ANALYST IT WILL BE IN PART IN YOUR ABILITY TO USE THESE TECHNOLOGICAL IMPLEMENTS WHICH ARE LOOSELY GOING ON THE NAME OF ARTIFICIAL INTELLIGENCE BUT ITS WAYS OF DOING LARGE AMOUNTS OF DATA AND INTENSE CLASSIFICATIONS AND DOING IT IN WAYS WE MAY EVEN BE DISCOVERING SOMETHING NEW OURSELVES.
Hoffman on Investments:
IT'S KIND OF CLASSIC FOR ME, MARKETPLACES, NETWORKS, HOW DO MILLIONS OF PEOPLE INTERACT WITH EACH OTHER AND HOW DO YOU HAVE A BETTER LIFE OR WORK? HOW ARE YOU MORE PRODUCTIVE? THOSE ARE THE KINDS OF INVESTMENTS THAT I NORMALLY WORK AND GOES EVERYTHING FROM PAYPAL TO PAYMENTS AND LINKEDIN OBVIOUS HAVE I TO AIRBNB AND THAT'S THE COMMON THEME.
Hoffman on AirBnB:
I THINK WHEN YOU HAVE A REALLY SOLID COMPANY LIKE AIRBNB YOU CAN CHOOSE WHEN YOU GO PUBLIC. IF YOU FEEL THE MARKET DOESN'T ACTUALLY GET YOU THE RIGHT VALUATION AND IS NOT THE RIGHT TIME, IT'S SUCH A UTILITY, SOMETHING THAT WILL EXIST I THINK, YOU KNOW, DECADES INTO THE FUTURE. HUNDREDS OF YEARS IN THE FUTURE THAT I'M NOT REALLY WORRIED. YOU CAN ACTUALLY PICK YOUR TIME.
Hoffman on IPO Valuations:
I THINK THAT PRIVATE VALUATIONS TEND TO GO HIGHER THAN PUBLIC BECAUSE YOU CAN CHOOSE WHEN YOU DO IT. IT'S CHOSEN BY ONE INVESTOR. THE HIGHEST INVESTOR OR ONE OF THE HIGHER INVESTORS WILL INVEST IN THAT PRICE AND I THINK YOU HAVE STRUCTURAL TENSION WHICH WE'VE SEEN LIKE HAPPENING LAST COUPLE OF YEARS WHICH I THINK IS PART OF THE REASON WHY YOU'VE SEEN LESS TECH IPOs BECAUSE PEOPLE ARE WORKING TO – ARE PUTTING IN THE ENERGY TO WORK INTO THEIR PRIVATE VALUATIONS BEFORE GOING PUBLIC.
Hoffman on US Politics:
OBSTRUCTIONISM, HOW THE PARTIES FIGHT IS PART OF WHAT I THINK IS SERIOUSLY HARMING THE U.S. AND SERIOUSLY HARMING ALL OF OUR FUTURES, AND SO CONSIDER CANDIDATES- YOU MAY REJECT THEM, BUT DO YOUR JOB. DON'T GO ON ARTIFICIAL STRIKE AND SAY HEY, YOU KNOW, EVEN THOUGH THIS PERSON IS ELECTED PRESIDENT OF THE U.S. I'M GOING TO IGNORE THAT FOR A YEAR AND I'M GOING TO DECLARE IT. DO YOUR JOB.
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