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tv   Tech Check  CNBC  April 19, 2021 11:00am-12:01pm EDT

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>> our new show. >> looking forward to him as well joining us. hopefully won't be too far. >> looking forward to that, too. well, thank you. for joining us today on "squawk on the street. we are going to toss over to "techcheck." ♪ good monday morning. welcome to "techcheck. i'm deirdre bosa with carl quintanilla and jon fortt. video, facebook positive apple, a land grab in the space more on that with keira swisher, and an important few weeks for apple. event tomorrow, showdowns with epic games and facebook. we dig into one front in apple's
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many battles right now, and peloton. fighting back against consumer safety warnings after a deadly accident hitting that stock we will dive into the story. >> deirdre, stocks lower to start the week tech, the performer. focus on bitcoin seeing prices crash over the weekend up a bit since tesla down 5% hold a bit of bitcoin. and not just crypto connected tech hit this morning. peter boockvar pointing out connection between bitcoin's movement and risk overall. you know, you mentioned peloton. that is down 8.5% this morning of course, sara, down more than 6% close to 7% c3aa down 6% not about bitcoin but a risk off connected to the same sentiment that might be driving bitcoin. deirdre? >> right we got to put the moves in context. the names, biggest winners over
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the last year. bitcoin, could come as surprise to absolutely no one this is a volatile market. still more than 90% higher than in january that 15% intraday drop, carl, we saw sunday, only biggest since february. >> yeah. morgan stanley this morning, guys, says headwinds approaching. got cost pressures got supply chain issues. got sort of peak growth rates in the economy. as a result, they say advice to skew more defensively earnings season, there words, sell the news event see if they're right. big news in the world of audio. clubhouse closing round valuing company $4 billion facebook set to reveal audio-first products this afternoon including a clubhouse competitor apple is disclosed what it pays artists by the penny per stream. roughly double what spotify pays but on lower vo volumes. perfect guest to weigh in.
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kara swisher recodes co-founder cnbc contributor and terrific podcaster. good to see you. >> good morning. how ya doing >> i'm good. we got a rich diet of news this morning. >> yes so much. >> what's your view on the clubhouse number and whether or not you have the sense that they are a player who are going to stick around a while >> that's a lot of money you know a lot of valuation, and, of course, started off i think at $100 million earlier in the year an aggressive move by horowitz, one of the big backers of the company. it's a lot a lot of these players are getting into it like facebook. twit othter obviously already t. the question, will someone buy clubhouse, for example, or able to compete the way youtube did nor years ultimately bought by google i've always worried about this company. so easy to copy and something with usage issues after the pandemic, people are home and
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lonely i've said many times before. seen the numbers dive, actually, in terms of uptick that said, it's a great product and kind of hits a sweet spot in what people like to do social audio essentially and events audio, i guess, but seems like it's a feature to me. i could be wrong, but i think standing on its own is really hard it's one of the reasons i'm using twitter spaces despite a lot of tech glimpse which i think will get better because my interest graph is on twitter i supposepeople's interest graphs are on facebook where i would worry for them that valuation is enormous and makes it harder for someone to bip it at the same time. got to win by innovation the way snapchat and others do. >> on that point, will clubhouse let itself be bought reports that twitter was looking at that $4 billion valuation a lot of people scoffed at that number what do you make of it that kind of valuation, with no
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android app or revenue as of yet. what would it take for you, you know founders and investors behind clubhouse to step back and say, okay. maybe this is a feature, not a product? >> well, i don't know. i don't know obviously they have kchconfidene in it. high-stakes game of poker. smart or not everyone say luke how smart they were feels like a single feature to me maybe they could do other thinks end of pandemic people are dying to get out into the real world and have real conversations. so i think events will be back obviously we announced doing our event again in late september. and so, you know, the downloads are high, but lower than they were so we'll see what happens. we've all seen -- jon especially, and i have seen these come and go. these apps, very popular and then not popular a question if they can add thing
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to it to make you stay there great groups on that site. we'll see. people get used to seeing it. >> every future has hopes being a platform again every platform looks like a feature early on. >> yes. >> put it to you this way. what would it take for you to move your podcasting empire to one of these platforms maybe clubhouse, maybe facebook, maybe twitter spaces is it the ability to charge, which clubhouse is now rolling out on a limited basis then maybe it's more like an event? you could do -- >> charging would matter yeah charging would matter, because that's all i care about. no but -- >> diversify your revenue stream sure. >> sure. i'm very diversified, jon, but -- you know, yes i think -- i remember when facebook video came, and all like, come over here it's good for you. i'm like, why? never made the case to me why it was good for me as a business or someone who makes a lot of content. except that i'd get more famous. it was sort of a weird -- i
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remember when they had that pitch to me. what's the pitch do events on there and they would go beautifully but there's tons of great software we did an event on, i forget the platform lots of software to do events now, by the way. i've been on dozens of them over the course of this pandemic. so why do, what do i need them for? i think of ben thompson. he's not on substack and we had a great twitter back and forth about that and why he isn't. uses stripe, i think it's stripe, and so many others, but others or substack and like it for convenience. but every substack looks the same i like them, why go there except if i can make money? i'm not a big content creator. do pretty well if you're a big content creator why do that. >> hate to break it to you, but you're big you're big. >> you know what i'm talking about. >> kim kardashians, khloe
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kardashian the question, can they make it into a platform you could really do business? otherwise, it's going to be pummeled with advertising and things like that i don't know what their other business is yet. but, i don't know. maybe i'm not creative enough. >> no, no. those are the questions creators and eventually consumers will also ask >> yeah. >> get you on amazon today retail wholesale and department store union filing objections with the vote in alabama something we knew they would do literally minutes after the results were tabulated were you surprised, and also love to get your take on what bezos said about the overall labor structure in his letter last week. >> i think, you know, amazon was finally, did get around insulting people around pe you had a guest on previously. paper people that's how you attract people to get back to work
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amazon's paying $15 with health benefits that's their argument. right? labor unions will fight back hard i noted because they lost in alabama doesn't mean they won't have a tougher road in stronger labor markets where labor unions are stronger like new york and other places may not locate there they are, have to locate all over the country because of the way their business runs. can't just have one group of things in states that are more friendly to them but i think it's going to be a really interesting issue because this is -- i noted, amazon the number one issue going forward, how it deals with labor. it's such a big employer and it's going to face the same issues everybody else did around health care, around safety, around workplace, around ai. taking new jobs. all kinds of stuff they'll be the test case for all of these things as the modern, big employer justs way manufacturers used to be, i guess. >> got to say it a couple weeks ago talking about
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the elizabeth warren, bernie sanders thing and how dare amazon get out there on twitter and thump its chest. come on. like you mentioned a few minutes ago on cnbc. talking to a restaurant owner who can't get people to come to work at all paying maybe $2,000 a $2,000 -- $20,000 a year amazon's paying equivalent of $30,000 a year plus health benefits and in a lot of cases a lot to do extended learning. we can talk a lot how amazon needs to do this and that better frontline workers -- i mean, it's hard. >> talking about their attitude. why do this? say what you're doing. say you're paying them doing health care benefits have a path to management. that's the arguments you make. don't argue. >> it didn't play. >> what played, they get paid more and paid better than anywhere else. >> that's for sure. >> that's what works talking to a lot of workers.
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what they make is what they care about. twitter, they don't care about that stupid indulgence pissing off regulators why do that? just did it because they were just mad right? it wasn't calculated in any strategic way. strategic, provide benefits and look like you are better for the worker than unions's they have to do they across the country and may be able to do that and unions have is a challenge instead of constantly suing, really show why they're of value to workers. workers are different everywhere in the country, i think. i think they'll have a different experience in new york, for example. you know, very tough there also, but that's a very more pro-union kind of environment. so we'll see where it goes it's still their number one issue and where they should put their attention and i think the more they can make an argument to workers that they're the best place to work, they're going to get the best workers they're going to beat out whatever chicken restaurant or chicken packing, like, that's the kind of choices people will be able to have and that's a
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presumably a good thing. that said, not avoiding regulation on workers in terms of safety and health care benefits, et cetera. >> right right. kara, as we've talked, able to confirm that apple will allow parlor back on the app store something tim cook told you he hoped would happen >> yep, yep. i thought that's why he said it. working at it. i think when they heard that interview i did with the former ceo saying we're not doing any of this stuff, they had to act right? because they were essentially just saying what they had already had a problem with a lot of these sites interesting to see who else comes back shows you pow irof the platforms to be able to deplatform things that don't heed to their rules interesting. why again, the power of all of these things is what's really interesting, to me, at least their ability to throw someone off because they break rules and, of course, that facebook decision, facebook oversight board with donald trump is coming soon also we'll see where that goes, which
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will be an interesting thing. it's an interesting time a time for all of these big companies. >> no question about it. >> are you going on facebook, carl will you go on facebook? for example? >> i deleted facebook a long time ago, actually we did experiment with twitter spaces >> spaces, right. >> twitter spaces last weekend to help promote the new show, which i thought was actually a nicely designed tool got to play around with it more. to your point, kara. so many different things available. we only understand them better with your help. >> can i tell youone thing one thing, i wouldn't go on facebook, because rime worried about them owning my data. a good example anyone who can make the case it's my data and my audience and not theirs, that would be really interesting. to me. that would be much more interesting. >> kara, great stuff >> thank you. >> appreciate it very much see you soon. >> all right bye. carl, another one of those
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twitter spaces get to today's crowd source. ceo of gamestop, if you haven't heard, stepping down that has the stock up 11% and got us thinking. who's announcement as the next ceo would give gamestop share, the biggest pop? who is the ideal next ceo for this company tweet us your ideas. maybe help ryan cohen with his search or jon, maybe, just ryan cohen? that would give it the biggest pop. >> angela ernst off our retirement put that in your pipe and smoke it. ahead this hour, crypto cratering and later business of oughtio a big theme today. patrick spence weighing in and we're just getting started here on "techcheck." ♪
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a gut check on coinbase. lower this morning down $100 from the debut day high. ceo sold $290 million worth of shares first day of trading. despite the sell-off, one big
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bull keeps buying, cathie wood, ark invest chief sweeping up shares cos continuit trim tesla keep an eye on that. >> and net earnings from netflix, snap and ibm and annal and facebook holding events. apple, a huge few weeks. a products event, more on the trial lawsuits with epic games and planned privacy changes, which created a huge rift with facebook our julia boorstin taking up that story what's the latest here >> deirdre, expecting apple's new operating system could roll out, could launch any day now, and it is at the center of its battle with facebook about consumer data. the question is how much consumers are tracked and targeted with ads based and that data take a look. apple ready to roll out its
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operating system ios 14 and prompting users to opt in or out of having their activity tracked. this is part of apple' commitment to protect users privacy. facebook's pushing back. it relies on that data ta target consumers with relative ads. people do opt out, what facebook says could happen. a man looking for sneakers on this phone with apple's new rules won't be able to use his search history to show ads for things they wants to buy on facebook or instagram, could end up seeing ads for women's clothing or furniture. facebook says non-personalized ads would be 60% less effective in driving sales than personalized ones. apple says, it's just standing up for its users facebook's solution, show this prompt immediately before apple's to convince consumers to stick with the ad targeting status quo. now, mark zuckerberg actually said in the company's last
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earnings call apple's operating system change could end up helping facebook if more businesses decide to sell goods directly through facebook and instagram rather than directing people off the platform. deirdre, with facebook's expected audio launches and a partnership with spotify for a podcast discovery expected as well, this shows the myriad ways facebook and apple are really going to be facing off and really rivals. >> yeah. we've seen some of that heat building over the last few months, julia. i love you showed that animation, because it shows us how clearly you can either opt in or opt out, but i remember thinking with cookie policies and tracking websites, how they track you around the web i thought that would be simple it's not really. a lot of people just click accept all cookies because it's the quicker and easier thing to do any indication so far on sort of the intricacies of this? how many people will actually opt in any surveys or indication there?
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>> well, look. the big unknown, deirdre the damage this does to facebook's businesses, small businesses, impact this has all hinges on how many people decide to opt in or opt out the fact that facebook is trying to get ahead of that opt out with their other than opt in option, trying to make it something that seems like the obvious thing to do. of course, you want to have tracking to have a better experience one thing, though, interesting not just facebook impacted by this also snap, also companies like bumble bumble actually estimated between 0% and 20% of people will be opting out just don't know how many people are going to be opting in, opting out for each of these different apps and people can feel differently about different platforms. might have more trust for one than the other so that is the big unknown, deirdre. i think we'll learn a lot more once people are actually faced with this, this question on their phone within the next couple of weeks. >> julia, no way i would opt in to any of this, to being like --
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why would i? i don't care if they show me ads. nots like i'll buying anything they're showing me to begin with but if they link the ad to content, better for a different cohort of companies. what do you think, what does facebook have in its arsenal besides its reach in public opinion? apple can flip a switch and affect digital advertising for everybody using an ios device, but what can facebook do to apple? >> well, jon, i have to say, i think you are probably unusual in not being drawn into some of those facebook ads i mean, look people respond to those facebook targeted ads that's why they work i certainly have fallen prey to them myself. they know what i'm going to like it does a good job i think that what's been interesting here is that facebook has been taking aim at apple saying we want to help small businesses and apple said we don't think about facebook. tim cook is not really thinking about facebook trying to protect user privacy
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it's a very different approach here between tim cook taking privacy stance and apple taking the stance of we're protecting small businesses, but while facebook going directly at apple's trying to stay above the fray interesting if we hear more about this tomorrow. apple made the point over the years they've helped small businesses and want to do in app store and that question plays into this whole lawsuit against epic which we've been talking about a lot as well. >> yeah. unless you are an inventory problem. it's hard to live rent-free in tim cook's brain learned that over time julia, thanks. to watch that piece on apple and facebook, upcoming, updates to ios 14 go to or scan this qr code with your camera app just scan it and in other facebook news, company says employees can continue to work from home after the pandemic joining other tech
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companies like twitter and microsoft with sometimes restrictions originally plans to work remotely until june of this we're, however, facebook's hr team says some employees thriving at home and can apply to remain remote permanently apply. last may mark zuckerberg expects 50% of the workforce could be fully remote in the next ten years. >> all right jon, later this hour, tesla shares remain under pressure get you the latest on the fatal crash in texas and whether more regulation could be ahead. next, a ceo, stock up 80% this year alone. you don't want to miss it.
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♪ ♪ ♪ cisco. the bridge to possible. welcome back to "techcheck" on cnbc. i'm carl quintanilla with deirdre bosa and jon fortt biggest drop for the dow in three weeks. s&p off half percent
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peloton the worst performer on the nas done over 8% a lot more on that story in a moment meantime, get a news update. for that rahel solomon. >> hey there, carl good morning. shares of harley davidson highest sales since 2020 doubling q1 estimates. motorcycle company sharply raised revenue guidance for the year. coca-cola beating estimates top and bottom line. organic revenue strong but the company kept guidance unchanged. shares of coke up 1% on the news. players in the newly announced super league of european soccer teams banned from the world cup and the our 2020 euro championship from the top governing body the league saying already taking league action to block retaliation against players and the its teams. mcdonald's wants to let you eat like a mehta star. teaming up with the band bts for its latest menu.
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a hipper audience. in this case chicken mcnuggets with sweet chili and kcajun dipping sauces travis scott also teamed up with mcdonald's. >> i want more flavors they have in different countries brought over here. rotate that a lot more. >> you have a very international palate, jon. makes sense. a very refined palate. >> that's questionable, rahel. thanks. now an innovator in the adios space fi-- adios space sonos a company at the center of some of today's major tech themes and ceo patrick spence joins us speaker for under $200 available tomorrow, a space you used to not much makes me wonder are the economics of music changing not just on the audio front as we've talked about with clubhouse
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earlier today but also when it comes to hardware? >> good morning, jon i think really the story for us is extending the, you know, capabilities of sonos in our first product like you mentioned. outside the home we happen to be able to use some of our learnings, really, over the last 20 years in developing products to make this something that comes in below the $200 price point. last year the sound bar, the number one sound bar in many of the countries we're in so our whole portfolio is a mix and the power they all work together as one system. >> one of the things talked about over the last few quarters is the direct relationship with the consumer that you built up throughout 2020, and how powerful that has been for you so i wonder the upcoming changes and debate how much it will affect small business. a lot of small businesses are trying to go direct like you are. would this hurt you? or -- is the way you built your
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business such that you don't need the kinds of passive data that the likes of facebook and others in the ap economy have relied upon? >> yeah. we like to be specific i think everybody does in terms who they're targeting. i love the fact, too, there's transparency here. we have been a company from the beginning has been very transparent in getting people to opt in, to what their providing to us. that is the right way for us to go in tech, in general i think one of the things to watch, jon, does apple hold that same bipartisan to their own apps right? are they asking permission for you to use each of their apps in the system, asking for that same opt in holding themselves to the same bar it's fair for everybody in the ecosystem and there's ways to target customers and work through. i don't think it's a big impact for people in general and most consumers unlike you are going to opt in. just as they've done with cookies and accept everything that pops up on every website. i don't think it's much of a
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bump in the road for most companies. >> i'm in jon's camp, but i know many are not, patrick. good morning, by the way it's deidre. >> good morning. >> sonos held its own against tech giants, even when undercutting your devices, but their own smart speakers, and earlier this morning we talked about clubhouse and expecting facebook to come after them with its own audio product and on massive scale. what advice might you give another company when they're about to go head-to-head with big tech >> first of all, a great sign that i've been saying for a while. we're in the golden age of audioand watching rise of social audio on top of groat-of-great growth in streaming music, pod kwavts and audio books the last fur years, tremendous it's different, quite frankly, deirdre, when another big tech company is jumping in because they don't have the same
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constraints. watching facebook and companies like snap i expect go in guns ablazing and not spare any expense. quite different than the way a company like ours has to compete. compete in this kind of, in this kind of environment in having to make sure that you're both getting intellectual property you need ensuring your inventions are properly protectened and continue to in innovate, compete and feel your growth and go through those things facebook has a playbook based what they've done to bringing out instagram stories and they just rush in, and able to throw a bunch of resources at these things interesting. we've always won by supporting everybody in the industry, and finding that right balance in terms of offering all services the more players the better, from my perspective. >> patrick, inflation and supply chain, you have to talk about it, seems. coke this morning warned about plastic prices think inflation will be a little bit more challenging in 2022
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obviously the chip shortage is making news every day. what are the conversations like at sonos regarding input costs and your level of confidence what the consumer will accept in terms of pass-through? >> yeah. i don't know if you saw. on the weekend there was just a shot of all of the ships down in the harbor in long beach and never been that many offshore. incredible right now. this is unprecedented. in tech 23 years building and shipping hardware. totally unprecedented. also brought to light the fact that there are some companies that do really well in terms of managing their supply chain. this is one of those situations where the tide's going out, you're seeing companies that, you know, know hoew to manage supply chain it's a science, rocket science to some degree getting it right. parts for us order 52 weeks in advance. i think you're going to see -- now starting to see everybody in the industry impacted in different ways
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but these teams have been juggling these things all the time day in, day out. i think the number of supply chain issues that companies have, if you saw i mean, for some people exhausting, right? terms of looking at it we have people that deal with it every day. it's never been to this level. right? then i think consumers have become accustom to prices they enjoy today. right? pushing on those things, but also are willing to pay for quality. you see it with us, see it with apple. right? build a great product, people will invest in it. right? if it's something for long jivty. we'll see as we work through this period. i think if companies continue to build great products, they're going to continue to be able to get consumers to pay what's fair for those products. >> hmm >> patrick, on that note, too, geeking out a little on that roam portable speaker this morning. the facts so seamlessly between home and outside feels like, of course, this is the next stage as people are
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going from the home and going back out as the economy reopens again. what else are you thinking of in terms of products or services to expand your reach beyond the inside, and would you say that's where your focus is these days >> i think we've been able to expand our focus, because of our success in the home. like you said. i think one of the -- the worst things about those portable speakers, use them, go home, throw them in the drawer and forget about that. that's wasted spend and those things you can bring roam in the house, swatch to music, leaving, swap to roam. awesome. we expect that will help drive a whole different kind of behavior as you think about it. last week also we ay nounsed partnership with audi. powering the audio inside the q4 etron. excited about that we see the opportunity to be with you throughout your life, throughout the day. go through that, listen to all the differ services. as you enjoy social audio, for
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instance an area super interesting to me. i really think our mission is, you know, really being the world's leading sound experience company. that means things like being in your car, having a portable, partnerships -- >> explain that sound experience thing. i don't gelt the car thing within the house, multiple speak handoff, i get that. but in the car, don't i want car play don't i want android auto? don't i want those experiences that are going to tie me into other aspects of the phone versus wanting an audio experience that's tied to the home -- i don't get it. >> i think, jon. i don't think you actually want any technology or any particular operating system in there. what i want and what i think from what i've seen from consumers is they want, if listening to a podcast or listening to "techcheck" in the house and running out the door to commute to work or drop the kids off, they want to be able to pick up "techcheck" in rea
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realtime quickly, without fiddling with they are phone, talk to voices and all these kind of of things. how do we make it easy to continue the things doing in the home when you get in the car or when you go outside of the home right? to me, that's a real opportunity that companies haven't dawn great job of solving yet. >> well, you are right there looking forward to seeing your attempt to solve that. patrick spence, thank you. >> thanks. by the way, bitcoin taking that dive below 60k over the weekend on that flash crash. we'll discuss reasons why in a minute. also, speaking of -- getting "techcheck." listen to us on the go anytime you want download, subscribe and enjoy the "techcheck" podcast. available wherever you get your podcasts. we're back in two minutes.
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traders an investors reacting to that bitcoin sell-off over the weekend as much as 20% often the recent high kate rooney is with us to try to break it down. >> hey, carl good morning the bitcoin sell-off blamed on rumors of more regulation and
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so-called whales taking profits. according to data firm glassnode, crypto's rallied high $64,000 driven by individual retail traders that tend to buy in smaller amounts the number of unique addresses, also call these wallets, buying about $600 or less of bitcoin rose in those days leading up to the coinbase debut up with a price last week and meanwhile wallets with at least 1,000 bitcoin worth $6 a million at the time dropped last week. analysts saying a sign wealthy investors took a step back from the market what else sparked that crash, some pointing to tweets about regulation another analyst tells me the price drop was "accelerated by leveraged bets on business coin going higher." some fell apart over the weekend and people who held bitcoin as collateral had to sell more
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holdings and others fell in sympathy with bitcoin over the weekend and digit's token am meme started as a joke, recently became the forth largest crypt other currency and quickly passed xrp in the that spot up more than 20% this morning as fans try to make tomorrow, which is also 4/20, national deirdre, back to you. >> kate, i don't know what to say except i hope people getting in involved in doeshcoin know it's a joke. thank you so much. and citi saying applied materials top economic pick. price to $160. up next, peloton fighting back against a new safety warning after a deadly accident. a fascinating corporate story. "techcheck" is back in just two. - [narrator] grubhub perks give you deals on all the food that makes you boogie.
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tesla shares under pressure this morning after preliminary investigation found that no one was driving in that fatal tesla crash that killed two men in texas. cnbc reporter joining us now laura, part of the issue, right? what tesla calls it. autopilot. full self-driving. that kind of ignites the tesla fan base despite all the warnings, that you have to have
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your hands on the wheel, and also elon musk pumping in up on places like joe rogan. right? >> i think that's correct. there can be overconfidence in the systems, because there is confusion resulting from brand names like self-driving and feature within the package navigate on autopilot whereas the standard package automated driving called autopilot may be something for fec to eventually evaluate. ip can see confusion over the vehicle. not well versed. practically you have to be an expert. >> laura, on the tape now, nhtsa with a couple comments they are investigating the crash in houston and they've launched, as they say, more than two dozen probes into tesla-involved crashes. is there a way to characterize if that number it low, high, or somewhere in the middle? >> i really don't think we can compare it to other automakers,
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because tesla's technology is completely distinct. pioneering with over the air updates and sort of agile software developments bringing all of that to cars. additionally they don't use lidar and don't limits use of automated driving systems in the same way i will theresay there is no regulations with automated driving systems, even though elon musk griped how they can't roll out everything because of regulators crashes like this one really sad. could hasten egulators the nhtsa was already urged by ntsb, an independent federal agency that investigates crashes whether air, maritime or vehicle crashes. they've already been urged by ntsb to, you know, come up with more stringent rulemaking. >> right. >> in that process, yeah. >> how is this any different
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from somebody drag racing a ford or, you know, trying to surf on the top of a moving chevy? tesla tells people ex-clplicitl buying a car that expensive, don't do this? >> definitely says in the own beer's manual you must engage these systems with supervision these are responsibilities that will be a part of the discussions and the investigation here that said, as was said before and deirdre brought this up. confusing. if you have tremendous faith in the fans, bloggers in the community, elon musk themselves and you see them very optimistic about these systems you might have overconfidence in what you can do with them and might be encouraged to follow the lead of some of these bloggers who elon musk interacts with regularly
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demonstrate issing hands-free driving while filming. or other, other unsafe uses of the vehicle. >> right so extreme overconfidence, tobl. >> laura, thank you for breaking it down. to read laura's reporting and much more. jon? sadly, another fatal accident in focus, this one involving peloton, a warning issued in related to the treadmill, the ceo noting a small handful of children being injured beknead the tread-plus the cpsc said there had been 39
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total incidents. it still remains if the sell-off will continue, if the valuations reflect increasing regulatory risk or not, guys. carl in the meantime, jon, checking in osharn shares of vi. next, who should be gamestop's next ceo? we'll get some of your ideas, when "techcheck" returns
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spacs, once the darlings of wall street, are starting to cool off since peaks in february one swept up in the bust, six separate blank-check companies, all six of which are down 20% to 50% from the recent highs, including three that have already completed mergers. guys, to be fair, almost all of his spacs are still up, however they are among the worst performing in that area. is there a structure conflict here chamath is a major player
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bringing these companies for retail investors, dumping a significant amount of shares should there be lockup periods what is he going to do with the money he took from virgin galactic just so many questions here in the coming weeks and months. personal responsibility yet again, at least in some cases with these spacs are getting public now, over the weekend we got some sad news about a silicon valley pioneer adobe co-founder chuck deschke helped lead the company as it expanded further into desktop publishering, in partnership with steve jobs and apple. think of innovationses like
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photoshop. he did it at cyr ox park, and they were awarded the medal of technology by president obama in 2009
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one more thing amazon cansing "lord of the rings" game. that partnership fell apart after ten cent bought, and amazon and ten cent couldn't come to terms. it's just the late zest speed bump for the video game division it's not like amazon lacks money. they're making a "lord of the rings" tv show the latest price tag, $465 million just for the first season for context, that's $100 million more than a marvel "avengers" movie, and those are not cheap. the awho is the next ideal
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for gamestop one answer we've seen all over the feed roaring kitty. the youtuber bringses his total stake to $30 million, so if someone would know about the company, it might be him cat writing in her choice, the former t mobile ceo. guys, let's get to the half. all right. carl, thanks so much front and center this hour, it is the biggest debate in the market right now -- whether it is time to be cautious or bullish? and why one of wall street's most prominent fund managers is making a new call on stocks. and well will debate his view, joining me for the hour today is req we site, james lebenthal, jo


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