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tv   Tech Check  CNBC  June 14, 2021 11:00am-12:01pm EDT

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have that rotation discussion in recent days, but speaks to oil at multiyear high. that's going to do it for us on "squawk on the street. "techcheck" starts right now ♪ happy monday welcome to "techcheck. i'm jon fortt with deirdre bosa. carl's got the morning off today, taken for a ride. investors question the viability of lordstown after half the suite resigns. microsoft's head's gaming on hemes of e3 and finally, facebook aedvertisers feel the crunch. >> jon, watching bitcoin
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following comments from tudor jones and alon musk and qualcomm also later sit down with unity's ceo and former chief. >> and start with the difference between lottery tickets and magic beans. high-growth stocks versus fanciful stories riding momentum here's paul tudor jones earlier. >> masters more willing to put money in companies where they had no idea what they're going to invest in than they were into ipos of known businesses that had business plans and were up and viable so all of a sudden there's a premium on the perceived scarcity of uncertainty. it's turned economic orthodoxy upside-down and that's why this meeting is so important, because things are actually bat-s. crazy, and at some point we have to say, okay
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wait slow down. get back in the lane and drive like we used to. >> and feeling never quite driving. you need an existing car to drive. lordstown motors looking more like a magic bean today. the truck designer falling more than 20% following resignations of the ceo and cfo warning last week substantial doubt the company will continue past this year companies like lordstown, nikola don't have record delivering cars like tesla but investors captivated by the promise of what could be. >> all of us promised, jon i like how you said, you need an actual car to drive. dive deeper int erer into lords what's become a controversial ev space. phil lebeau, break town this morning's ingest. >> no longer at lordstown motors shares again, showing you this
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because you don't see a 20% drop in the stock every day, but that's what we see from lordstown today. down about 20% after the ceo and cfo resigned ceo, alsoa visionary who put this together. steve burns. talked with him a number of times including in march when the controversy came up with the short seller hindenburg research a lot of what was released today was not just their referring nation, also results of an independent investigation from lordstown motors looking into claims from the short seller hindenburg research that basically said, look, plans for that truck, endurance pick-up truck are not legitimate what they basically said according to an independent probe most claims from hindenburg were false and misleading, however admitted there were statements relating to pre-orders that were inaccurate again, look at shares of lordstown motors, we'll go back and look where the stock was back when it was an ipo in october. here's where it is today
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so this is a company that is now looking for a ceo. the executive chairwoman now is an independent board member, angela strand. she is in charge they're looking for a ceo. i guess the big question for people becomes, what happens next for this stif you're an investor, one not selling, general motors owns 5% of these shares of lordstown motors the company said this morning for now it remains holding those stocks, and that's all that they're saying at this point guys, back to you. >> phil, first, nikola, now lordstown. how shaky are some of the newer companies in this space? and do you think that detroit is going to continue to invest in them >> i think detroit will have an interest in some of these companies. maybe not all of these companies, but, jon, look at the controversy surrounding both of these companies. what do they have in common? ceos who were way too aggressive
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in terms of their declarations are future products how quickly the products were orders, reserved, letters of interest. whatever term you want to use, or what they would do when they would roll out plenty of people at the tile including some onwall street saying i'm not entirely sure we should buy into the ideas thrown out there. that's the interest thing here between lordstown and nikola two ceos who were visionaries for these companies who ultimately were saying, this is what we plan on doing, and ultimately those statements are at the heart of why they are no longer running those companies. >> phil, thanks for that jon, also maybe note, remember the last time we had lucid mothers ceo on couldn't back up manufacturing targets for next year made just a few months earlier a lot of questions, raised in this space. also bring up a few other things tudor jones mentioned noted how meme stocks shot up
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this year outperforming the market despite a lack of fundamental growth something we've followed closely. mentioned also spacs raised more than $100 billion through may 15th according to refinitiv, more than all traditional ipos in 2020 the backdrop of all of this, jon, this week's fed meeting where should interest rates rise, flow of cash could come to a halt and we've been making thisty tin distinction over the months, magic and magic beans. the high-growth cloud and ai stocks distinction investors started to look at this, this year. those markets. >> some have one of the things i love about twitter, you get a little of everybody's voice. a segment of investors who, i mean, it's like amc, gme that's their team and they love their team regardless of what's actually going on, on the field.
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it seems to me like, in a market like this, tudor jones right along these lines, you've got to figure what's the fundamental thesis that you're investing in? if you're investing in gamestop, what do you think they're actually going to do to have a significant place in gaming going forward? is ecommerce going to get them there or as we'll hear from microsoft in a couple minutes. is cloud and streaming going to come in, in such a wave, they're a middleman that gets cut out? >> right and we've talked about this as well maybe you have to get creative with valuations. that's not something that old school, traditional investors really want to hear, but i think that's the new cohort of retail investors, thinking about this creatively, perhaps a gamestop or amc could use the capital raising on back of their surging stock prices to become something that they aren't right now hence that distinction magic beans, maybe, jon. lot oh tickets could be some riskier than others. >> yeah. and then you've got stocks that you don't know what's behind
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them and you've got ais, snowflakes and others with a big run but technology underlines that how do you value that going forward? we mentioned gme and the gaming space. diving deeper into it. microsoft off a big three announcement, 30 new games shedding light on a project that could signal the end of console games as we know it. not the end of console gaming altogether microsoft gaming chief head of xbox phil spencer joins us now since i saw this announcement from you friday i wanted to know, what is your vision for mainstream gaming five years from now is the console going to be a high-end gamers' tool not nessy to get the full experience will i have a decent "madden" or "fifa" exbox experience just streaming through my tv? >> absolutely. you look at any other form of
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media, video or audio, you've seen the consumer at the sent of the experience not the device at the center we'll always have high-end experiences on pc and consoles and hundreds of millions of people out there that is the place they want to play. it's where i love to play. the ability to scale through the cloud is critical. >> what happens in this environment with a chip shortage in a way solves that problem to an extend if i just need a smart tv and controller that i got when i bought the tv and can stream games through it. what happens to third-party retailers who have made their bones selling xboxes and taking margins on that you? don't need them anymore as much? >> i think devices will still be out there. look at streaming audio, look at streaming video, in my house probably more speakers around than ever with the advent of streaming audio. you'll say the same with gaming. devices might change fidelity might change, price point might change, but i think devices around us that allow us to play the video games, that
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number's only going to go up. >> phil, how big dollars -wise could gaming be? post $3.6 billion in revenue take away the cloud use, eventually take away all of it, how big could this market be >> 3 billion people who play video games on the planet, amazing to think about almost half the world's population $200 billion top line tam growing at double digits last year to continue to grow the business at that rate it's got to be about accessibility. talking a lot about accessibility of technology, but also business models subscriptions. ad-funded games. the diversity of devices and business models are great tools for creators to grow this business >> can you put an amount on that double triple what it is now? obviously microsoft is making a big bed for good reason.
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>> yeah. we look at the $200 billion top line cam in the gaming business, we're a small percentage of that that number's growing. we want to grow faster than the market and investing to do that and in three big ways. talked content, clearly critical gamers play games. that's the important thing invest in our cloud infrastructure with azure and we also have an amazing community on xbox live, over 100 million people that come every month as that business continues to grow at double digits we want to outgrow the market and think we're poised to do that. >> a broughter ecosystem on multiple platforms what i think investors should focus in here on, too, you're talking about a business modelship. what happens to the 30% take that consoles traditionally took and alpple's astro, for example, takes. are you taking 30% >> our model is diversity. look at free games on our
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platform ad and subscriptions were know the create hear to succeed in the market. it's not about the platform. we are a creator-led market. a vast majority of revenue goes back to creators true in our subscription, clearly true in our store. we think democratizing that content to release to more people in more direct ways from creator to consumer is a key for us as microsoft creators have been at our core from the beginning, think wack to windows, dosturbo publisher. we want that in our world. >> ask you more about today versus tomorrow. xbox ecosystem e3. your announcements how important is it to get marquee exclusive models out to the xbox platform for your most recent console to get gamers as excited as possible about that >> yeah. i think the last time you and i
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talked i think right as we announced the bethesda acquisition. great to have them onstage, leading and closing our show we've invested in a huge number of studios right now we showed 30 games yesterday 27 of them coming into gamepass. having that amazing content and that as a real strength. we think about the tech giants out there, we're really one of the om companies that has a huge investment in content and we think that's a unique capability to lead us to success. >> lots of buzz around "star field" and other titles over the weekend, phil. thank you. >> thank you coming up, facebook feels the bench. unity ceo and a $40 billion dru market a big hour of "techcheck" is just getting started.
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facebook and its advertisers are feeling the pinch. that's the latest heard on the street for "wall street journal's" laura foreman who writes some advertisers report return on vichblt on facebook ads cut in half recently ever
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since apple made big privacy changes to its operating system. joining us now is laura foreman and then capital managing partner natasha lamb welcome to you both. laura, start with you. i hear your argument new privacy protocols impacting the facebook business model as you report, but where are businesses going to go i mean, who else has that kind of scale and as facebook. also affected by the latest privacy changes? >> hi, deirdre great to see you thanks for having me, and hi, jon. what's so ironic is that they're not going to go anywhere there's a loophole in the way that facebook runs their business such that they don't charge influencers and brand partners for using their platform they can come on for free. use the platform to develop their image and following and then brands basically can use instagram and facebook as communication tools instead of as advertising tools
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i mean that, in that they don't actually pay or have to pay facebook any money some brands, for example, my sources tell me, literally they have to get about five xrois to make instagram worth it. now getting two. they're paying their best influencers on their for free instead zero to very little money for a much better iro rate now. >> is this the new game plan the new business model for facebook seen them lean into audio in that economy >> yeah. i think absolutely it has to be. one interesting thing is two years ago i remembered this morning, when you asked me to come on the show i wrote a piece on influencers and how when facebook hit lights it might make it more difficult to show their returns on investment to their brand partners who they work with. turns out they're still on the platform, but actually i go on instagram 80 times a day call it research they're asking a question whether people like that do you like having your life
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hidden turns out i did speak with a psych expert said people like to tend what's already been liked if you get -- you can't see how many people liked something you might be likely to pass by it. if you see it has thousands of likes you might be more intrigued, show people that you, too, sort of like a crowd thing. it could be just that they're going to lean more into influencers, and could charge them easily at this point. honestly, influencers make their whole business on facebook if they charge a nominal fee, millions of influencers and could do quite well. >> or flee to youtube or others where, natasha, brings us to the issue of antitrust and these companies called monopoli monopolies i can't help but mention apple is pressuring now facebook cutting off ad marketing capabilities and just talking to microsoft pressuring apple on
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the app store margins, i think saying not taking 30% take and pushing to take over gaming, and as a pretty big company, apple has to pay attention, i think. does this shift, a narrative, all companies and monopolies can't be stopped by anything but increased regulation >> well, i mean, i think, yeah they're going to have an impact on each other, given how much power they all yield, both en masse and then as individual firms, and now you have regulators stepping in and saying, okay this is monopoly power i don't think there's a question about that in terms how much they have right now. so they're going to, you know, be hitting up against these barriers privs privacy concerns coming to the fore and this antitrust ak look at the antitrust action and say it's political jockeying, but the fact is, there's a lot
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of pressure to address over concentration of power in the tech sector because it's having real world consequences on information flows, privacy, on our democracy. frankly, pretty overdue. look at antitrust action in this country, there is a long history of protecting free market competition and innovation over the last century but we've been in this period of not a lot of antitrust action, because of the rise of the chicago school of economics in the '70s and this idea almost dogma, that markets would simply self-correct well, they don't. >> natasha, maybe in a way they are, though is what i'm pursuing here i'm kind of wanting to push you on this. >> yeah. >> i noticed all of these big companies, in this case talking about apple making a privacy move that's having a real impact on facebook and its ecosystem. may they are self-correcting in a way and the focus shouldn't be so much on can they do m & a or
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do they need to be broken up but maybe making laws that set rules of the road in a digital economy? congress is more comfortable i think telling companies what they can't do than making smart laws, it seems >> yeah. i think that's right you know, even though it feels like we've been in this information economy for decades, this is new territory. so what are the rules of the road how can you prevent this kind of overconcentration of power and because there has been so much political concern, you're seeing the companies starting to say, okay. we need to address privacy we need to address these issues, because we don't want to be regulated. as investors, you know what we always want is self-regulation right? they they don't get into problems to begin with but if you've got zuckerberg saying better to buy than compete, you're going to end up with a consolidation of power. i do think what you're seeing right now is, they're trying,
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trying to be more responsible, and take actions that protect consumers, and give them, you know -- enable them to continue with a social license to operate. >> right and that's what -- doing by leaning into the creator go ahead, laura? >> can i cut in? i wanted to add i did see a story this morning 90% opted out of tracking. you seed a need for the consumer if they want customers to continue using their platform unlimited time as day they absolutely have to be aware of this, kagcognizant and make changes. >> the question, is facebook developing different tools that give small business what's they need to get around the new privacy laws who does this ultimately sort of hurt is it small businesses, as facebook says? or benefit facebook giving them incentive to develop something new? >> they say that they're working with facebook ahead of apple's
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changes. not 100% sure. the small businesses i talked to claim they haven't seen any help at all so unclear absolutely facebook saying, small businesses will suffer we won't, because where else where they go? have to continue using us, but i guess it remains to be seen. >> natasha, last question talking about antitrust scrutiny high is in the most threatened position at the moment, do you think? we've talked so much about apple, despite the privacy changes they're implementing, the consumers seem to like developers, creators, a big ap store fee lawmakers are looking at as well >> yeah. i think apple is absolutely hitting up against, know, these issues i think in terms of the attention of regulators, facebook and google, and amazon, i think are really -- in the -- in the spotlight, and facebook,
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because of, know, all of the -- all of the issues in terms of election interference, disinformation on the platform really just not keeping a clean house on the regulate, they're feeling they need to step in, and antitrust is a way to do that then, of course, amazon with just this incredible control and power over u.s. retail, and favoring their own products and all of that. so i think both of those companies are really on the front burner in terms of regulation. >> interesting shifting landscape lauren and natasha, great discussion thanks to you both for being with us. >> thank you. speaking of power and changing ecosystems, unity ceo former ae chief after the break. talking gaming platforms on the apple app store. ecosystem and beyond. plus, bitcoin moves on another elon musk tweet and jack
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hour welcome back to atlantic i'm deirdre bosa anside jft. u jon fortt and talk arm wrestling later between qualcomm and nvidia. first get to rahal sullivan for the update. >> what's happening at this hour n novavax says its vaccine is more than 90% effective the company will apply for fda approval by end of september. and looking at selling key shale oil in the u.s saying the whole thing worth more than $10 billion. sdung discussion comes weeks after told to reduce emissions. and recalled by a medical
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devicemaker philips. at issue, a phone piece that might release toxic gases that could cause cancer the recall begs some 3 million to 4 million devices. and americans hold on to their cars a lot longer. average age of cars like trucks rose to record 12.1 years in 2020 despite a number of cars getting scrapped researchers say rising car sales will reduce average vehicle age moving forward 12.1 years back to you. >> people can't find a car to buy in this economy. rahel, thanks. >> that, too. back to gaming microsoft making new product announcement over the weekend, plus a shift to streaming devices that could be a game-changer for the industry. here with us, unity software ceo john riccitiello john, really, your thoughts on what's going on? seems to me we've been in this time where siloed platforms have had developers sort of beholden
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to devicemakers largely in defining business models, but we might be headed into something else, and unity in a way, seems set up to really fuel that am i looking at that right >> well, look. i think a couple things are going on you know, unity i think we have a pretty good vantage point to see it all today about 60% or so of the world's games are built on our platform a tech platform. the salient point. in any given onth, between 3 billion and 3.5 billion play a mobile game. it counts into the low hundreds of millions of people, a couple hundred million people that play a pc or console game so from microsoft's perspective or from any of the key platforms line the sony playstation or nintendo or microsoft they're looking for ways to reach the larger audience were they don't own a mobile ecosystem the way apple or google do
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microsoft's announcement around streaming, it's still enables end point bike an xbox still enable people to use xbox, hardware device. tapping into settop boxes and mobile ecosystem trying to, the overall xbox membership. here's what i think maybe the point that we should all think a little bit about is. netflix brought streaming at scale to television and film content. and will there be a player that works like a, a netflix in the gaming industry but have a subscription, if you will, everything you need? we'll end up being more like a bunch of disney pluses where individual companies bring their content to a direct streaming or direct download and play model microsoft certainly has a lot of content. the most recent acquisition of bethesda really gives act to an incredible portfolio of
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electronic properties and games and bringing it to the consumer like you would expect them to. >> i wonder is something happening similar to what we saw 20 years ago when microsoft and a bit about microsoft and anpple and client server and then the rise of java, opensource, rise of web development kind of opened up different fields for developer whose had ideas to work on, where they weren't as locked in to, from platform to platform i mean is that happening in a wayin gaming with the rise of cloud gaming mobile games, you mentioned, is strong you've got consoles that are maybe going to be a little less mainstream as these subscription services develop >> well, look. consoles less mainstream with literally hundreds of millions using them it's still a gigantic market in the gaming industry. i would argue, you can get tortured trying to compare this to film. if you're going to consume
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television content on your android phone or iphone or tablet or pc, it's the same stuff. when you're consuming a game, you know, typically when people are playing in mobile they're playing three, four, five minutes. on a coal sol, 45 minutes play to an hour using a controller with buttons and a swivel stick and shoulder buttons. finger touching the screen the packaging around the content is going to remain different for all but, you know, a couple dozen major games. i don't know if you should think about it as being cloud gaming, delivering everything to all devices. it's going to have the same content on all devices the other issue is it's expensive to stream games, and differently than it is with film and i expect at least in this case, it's not going to repair down to one simple solution where everything is streaming to all devices and all content is playable on all devices.
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i think it will take a decade or more for that to play out. having said that, microsoft's offering is compelling to be clear, i know everyone wants to -- when i play a mobile game on my mobile or android phone it's different than sitting down in front of the television to dive into "madden" or "fifa" or "battlefield," those are different experiences for me and i think that's true for most people. >> >> john, this idea of game streaming being netflix or disney plus is really interesting. i guess what you're saying, perhaps one model where everything is licensed versus a big player coming to bring its own original content do you think that big developers will get onboard as microsoft pushes to become the netflix of this space who could be the disney plus bringing all that original content and doing it in the other model that you sort of outlined >> look, i think large publishers in the gaming
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industries like activision, electronic arts, we saw take to square in japan have enough content to individually set up direct to consumer subscription businesses, and each have pieces of that now. the larger question, though, ultimately comes down to, this is where it will be a little bit like the television industry disney plus is scale, netflix has scale. but are we really going to subscribe to six or seven portfolios for television, and will we really subscribe to several on a gaming industry at a certain point, too expensives charge us $15 a month for a gaming platform and then five or six other creators, but if you want "battlefield" or "madden" go to ea "call of duty," "candy crush" activision ultimately how many will we sustain or see a sort of m & a consolidation play in gaming
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certainly microsoft has been driving that acquiring things like "mine kraf "minecraft" with bethesda. i don't think we'll see a single g a aggregate other and see more than one disney plus, one after another and then see debates around what i really want for content on someone else's network. >> johns, seems relationship with and engagement with the consumer is still really important in some sort what happens to the gamestops of the world when microsoft and others like it are going direct in that relationship how do they survive? >> well, look. i mean, the gaming industry is surviving really, really well. so one of the things that really helps gaming is where things
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like television hours peaked and sustained. music sort of gotten a low-growth model gaming continues to be a 20%-plus growth business something grows that rapidly there's a lot of ways to survive. the other thing is economics around gaming is a better business than either television or music so ultimately survival i don't think is the key question. i think the larger question is whether or not we're going to see more consolidation and will the individual publishers have the wherewithal to kind of establish that direct subscription model at scale with the consumer or whether some level of consolidation is going to put them in the hands of larger players that will agrigregate a do just that >> right. >> sort of a race to figure that out, and each year in the last three years have been yet another record for m & a and the gaming industry. >> right the gaming industry -- >> overall -- metaverse, which
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is yet another set of questions. >> yeah. >> as gaming technology realtime 3d technology, unity makes, starts to show up not just in gaming but in literally every other industry construction to automobiles to everything else. >> we know that is your push, john yeah no hints, though, on gamestop and how they might survive great to have you. john riccitiello. >> thanks so much. could spend a lot more time on the metaverse after the break, listening to you for a very long time, jane but where are you? what's happening >> i am at a drone facility. that is a replica of the ingenuity helicopter flying on mars, but as drones evolve, though, one of the newest trends, heading straight to the ground on earth. i'll explain when we come back
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welcome back in. what else do i need to say besides let's get trite jane wells and drones take it away, jane >> reporter: hi, deirdre i'm at a publicly traded drone company here in california, and this -- is the hummingbird
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it has its own camera. it is approve of concept drone created for the pentagon aeroenvironment makes all kinds of drones mostly for the defense industry but also nasa flying on mars, they helped build that for jpl the drone industry is changing changes, integrating drones in the air with robots on the ground,air environment made three acquisitions during the pandemic including a german robot company. now its drones from the air can partner with those on the ground when it sees suspicious activity and help guide a robe got retrieve it. >> our customers and we believe that the integration of the ground domain, air domain, stratospheric domain and even submaritime underwater, which is absolutely going to be game changer. >> reporter: but levitate
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capital brpredicts by 2025, publicly traded cortava saving farmers time looking for problems >> usually take can take half a day, or several hours at least we can do it in 15, 20 minutes. >> reporter: flying in rain and wind still a challenge so is battery life, though solar power is being tested. and the faa is starting to relax rules on flying out of line of sight, but aeroenvironment's ceo says the biggest challenge, guys, is -- public and regulatory acceptance still a ways to go back to you. >> that hummingbird sure is cute, though carrying a package makes me wonder about delivery, jane amazon said a couple years back, they unveil add drone kind of
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like a backyard target to get it to land. is there more innovation for delivery drones? >> reporter: well, amazon says now that's years away and partnered with a couple of foreign firms but the ceo saying he would "love" to lease his expertise to amazon when that happens. >> yes maybe he bought that ticket on -- on the flight to space with bezos and can talk about it then jane wells, thank you. keep your eye on squarespace this morning up 30% since its debut last month. goldman sachs, higher. the portfolio, well, check cnbc.com/pro to find out stay with us stay with us "techcheck" will be right back. you got your new customers — they get our best deals. you got your existing customers they also get our best deals. everyone. gets. the deals.
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questions? got it. but, why did you use a permanent marker? because i want to make sure you remember.ery smartphone. it's hard to hope, hard to cope with crisis. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united. wondering what actually goes into your multivitamin? whe at new chapter,e, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness.
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unveils a live streaming shopping feature the move as amazon and facebook exploring the someplace and traditional retailers like nordstrom looking at the technology sales doubled from 2019 to 2020 in china and counting for more than $125 billion last year according to forsythe research joining us the ceo and co-founder and former strategy officer of snap. good morning great to see you with this live shopping feature you're bringing creators and
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influences further into the verishop ecosystem i want your view on app store commission, calling a tax, unfair on creators and developers and others say an expense because of the ecosystem and the safe security system it provides ho you do you feel about it? >> we're comfortable playing 30% commission apple charges commission on digital goods, that goes to an apple ecosystem. look at digital goods, they don't have other costs like shipping costs and return costs, thinking like that so we're comfortable >> right, but if facebook is going to provide an option, and also doing live streaming ecommerce and offering a lower fee, how does that position verishop >> our app is on apple app stores long term if we build an app on facebook we will consider that obviously. right now that's not an option we were able to bring the features and functions like live
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streaming or content-based feed that helps discover content because of all the innovation apple has done so, know, i think like any platform they have to make money. so we understand that. we are comfortable comfortable apple. >> how big can the market be here in the united states? why do you think it's taking longer to take off >> i think livestream is a discovery feature. consumers will discover what they want to buy in many ways. if you -- e-commerce was predominantly catalog-based, so you need to know what to buy and search for it, like searching for a coaster, and that's not a i great way of shopping anymore. so we think it's a new way for content-based shopping we launch the content feed, and that helping you inspire
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today we launched livestream shopping, another way for you to keck with emerging brands and independent brands also, with the creators and -- new ideas for inspiration. >> now, imran, you led one of the biggest ipos, alibaba, so i wanted to get your view on the idea that markets are bat-s crazy, and a signs that investors are willing to put more money into spacs what's your view on that the listing environment of this proliferation of spacs that we have seen? >> yeah, i think there are many ways to go public. spac is one option i think if something suddenly grows a lot, i don't think it's
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necessarily a bad thing. it gives companies a new way of considering other ways to take a company public investors have choices >> but at the current moment, do you think the markets have gone crazy? >> look, i don't really study spac as well to really make an educated decision, but i think i don't have any quarrel with it >> imran, thank you for coming on we'll talk soon. take a look at adobe, all-time highs this morning. that, of course, going back 35 years, august of 1986, shares up only about 250,000%. a hot gainer ahead of earnings this week. this week. more
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bitcoin is math, and math has been around for thousands of years. two plus two is going to equal four, and it will for the next 2,000 years. i like the idea of investing in something that's reliable, consistent, honest and 100% certain. that was paul tudor jones early on squawk equating bitcoin
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to math. btc going higher today, as well as a tweet from elon musk suggesting his relationship with bitcoin may be back on slashing the tires down to 812, though these keep the buy rating tesla shares are still higher this morning this morning we are back in just a moment indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home.
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one more things, with regulators consideration, a new investor, qualcomm's investor says he's willing to buy a stake in the uk chip designers, saying he's had discussions with other companies that feel the same way. all of that according to "the t telegraph" this weekend. they've been pressuring nvidia's deal for arm a summit is taking place this
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wedn wednesday. you can bet i'll be ask pat whether he's interesting in take a bite out of arm. >> i will definitely be -- the nasdaq is outperforming. let's get over to the half >> stocks, the fed and your money this hour, and what what paul tudor jones said on this network today about the fed and how he's playing the market right now. my investment committee is standing by to weigh in on all of that. a healthy debate, too. tiffany mcgee, ceo and c.i.o. at pivotal advisers josh brown along with joe terranova and jon in a square want the fed meeting i

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