Re/code Daily - Here's The Important Stuff From CES 2016 Day One

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•	Yesterday at CES in Las Vegas, Netflix CEO Reed Hastings told Peter Kafka why the streaming service is expanding into over 130 countries, what it's doing to get into China and how Adam Sandler made the most popular movie on Netflix ever. FTC chief Edith Ramirez warned tech companies to use data collected by Internet of Things devices very carefully, and Facebook opened pre-orders for the $599 Oculus Rift virtual reality headset, which begins shipping in March. Also, IBM is teaming up with Under Armour to make a fitness app. [Peter Kafka \| Re/code]
•	Two unhappy exits in flash sales e-commerce: Gilt Groupe is finalizing a $250 million sale to Saks Fifth Avenue that could be announced as soon as today. Gilt's rival, One Kings Lane, is shopping itself to potential buyers, and will likely fetch no more than $150 million (it was previously valued at $900 million). [Jason Del Rey \| Re/code]
•	Union Square Ventures partner Albert Wenger, known for successful bets on companies including MongoDB, Twilio and Etsy, talks with Peter Kafka on the latest episode of the "Re/code Decode" podcast. Wenger says that tech companies should start getting along with the government, and that there isn't any tech bubble "pop" on the horizon. [Eric Johnson \| Re/code]
•	There is a lot of panic and volatility in the Chinese stock market, which is pushing down the share prices of many American tech companies. Yesterday, the Chinese government was forced to freeze trading after the Shanghai index fell more than seven percent in less than 30 minutes. [Keith Bradsher and Amie Tsang \| The New York Times]
•	Chevrolet unveiled its fully electric 2017 Bolt, a compact car with a range of more than 200 miles and an after-tax price tag of around $30,000, making it the most affordable electric car on the market. The Verge's Chris Ziegler says it's a great car, but that what matters is how it will stack up against the upcoming Tesla 3. [Chris Ziegler \| The Verge]
•	Yahoo CEO Marissa Mayer needs to go. Activist investor Starboard Value threatened to engage in a proxy battle to oust the CEO in a letter to the board. This is the first explicit attack against Mayer by investors, as her leadership of the struggling Yahoo has come into question. The company's market value consists entirely of its stake in Alibaba, with its core business worth less than zero. [Douglas Macmillan and David Benoit \| WSJ]