tv Tech Check CNBC July 7, 2021 11:00am-12:01pm EDT
>> thanks for joining us today >> thank you very much. we've got the s&p slightly lower now. that's going to do it for "squawk on the street. "techcheck" starts now. >> using the force from valor and defense. never attack. >> tell me why i can't -- >> no, no. there is no "why." ♪ good wednesday morning, and welcome to "techcheck. i'm deirdre bosa with jon fortt. carl has the morning off coming up on the show today, "return of the jed di.
na nasdaq hitting another high. and a deep dive into china's crackdown on its own tech industry and what it means for stocks that already trade here in the u.s., jon >> start with department o defense canceling a $10 billion cloud computer contract that led amazon and microsoft into a legal battle d.o.d. awarded jedi to microsoft prompting a swift protest from am amazon i spoke to the current amazon ceo and former aws chief andy jassy about that in december of 2019 here what he told me. >> we obviously don't believe that jedi was adjudicated fairly i think that anybody who does a detailed apples to apples comparison of the platforms don't come out in the same spot that that procurement did and most of our customers tell us we're about a couple years ahead of anybody else with regard to functionality and maturity there was significant political interference here. when you have a sitting president who's willing to be
very vocal that they dislike a company, and the ceo of that company, it makes it difficult for government agencies including the d.o.d. to make objective decisions without fear of reprisal. >> speaking of the former president, donald trump is announcing that he is suing facebook, twitter and alphabet a class action lawsuit related to his claims of censorship on the platforms that extended complete or partial bans on his accounts you know, concede the political reasons for that i guess we'll see the legal merits when we see the cases themselves but, then, on the jedi contract itself, let's bring in our morgan brennan morgan, i remember we were talking about how quickly amazon came in and did sue, and this is andy jassy's first week on the job, and here it is. this is a win for them.
>> it is a win for them, and certainly that is how it's being taken by wall street as well right now. you just see the reaction in the shares it's a win for them. microsoft will still likely have a piece of this pie, too i mean, you have the d.o.d. ex-kples is it calling out both of those names yesterday when it made this news announced its scrapping the jedi contract for what is going to be called the joint war fighter cloud capability, or jwcc cloud contract that is now going to take its place and now fielded quickly. so, yes. a win for both of them it's potentially a win based on what the d.o.d. find through its researching process into the fall for other companies we know originally contenders or hoped to be involved in jedi as well names like oracle, google, some ibm, some of the other players interesting to see if you have other names potentially jumping into this mix as well. maybe some of the defense
contract, more traditional defense contractors making big bets in tech and in digitization and potentially names like palantir right? the in general, seen as a win for both amazon and microsoft. >> right morgan, when we started talking about jedi years ago, the cloud landscape was so different thought you could go with one vendor now it's rethought as a multivendor approach we've seen a lot of private enterprises go that way aswell is this also, does it have a cybersecurity amount to it as well doesn't it the fact if you use this multivendor approach, you're going to have more security. it makes sense aside from the drama that has happened over the last few years, clear microsoft and amazon, that the drchl.o.d.s this route >> 100%, deirdre and when the proposals were initiated as well by the
pentagon the multivendor would make more sense from a cybersecurity standpoint also debates about the idea of implementing mini clouds, too, within d.o.d., because those can be more siloed and secure, too obviously in focus given the hacks and security breaches including not long ago, think about solarwinds, in general, overall, seen as a key piece of an even bigger, talk about the d.o.d. a key piece of an even bigger push by the u.s. government into cloud computing, into digitization, into the internet of things, if you will, and when you're working at an amazon or microsoft with an entity like the d.o.d. or in the case of amazon, the cia, talking highest security clearances and bragging rights attached to that, too based on what analysts said, presumably, over the last couple
of years, those opportunities in commercial or appreciate sector, too, given a sense of security given those clearances. >> all right thanks, morgan i think a lot of people question whether multivendor essentially and makes you more secure. bit security makes you more secure love it up no matter how many vnd vendors you've got something to discuss with our next guest more than 1,000 companies worldwide feeling effects of the latest ransomware cyber attack linked back to a russian hacking gang joining us now on the global impact and protective measures companies can take, a board member and former ceo of symantec as well guys good to have you. give me your perspective on what seems to me to be the rise in ransomware attacks which perhaps is linked to the success of them as well, and what measures
companies should be taking to protect themselves >> if you look at the digitization and working from anywhere that has happened in the last 16, 15, 16 months, it has really given rise to attacks, and bad actors, therefore, in this, too, they tell you the ip for everything in the business, and they're going off the data and have found backup as a vulnerability point, because legacy backup systems is completely vulnerable and too often the attacks is attacking backup systems and ransomware, bad actors, they actually attack backup and put your production down, and ask for ransom the best defense mechanism against ransomware is really having a quality backup platform that allows you to get up and ready very, very fast.
>> backups help, but often in these cases lately, we've seen the ransomware attackers saying, we're going to divulge your confidential information if you don't pay us not just keep the information you have so they're trying to add this extra incentive to pay doesn't that complicate this backup alone doesn't save you, if you don't have your most sense live datitive data, secre protected as well? >> and -- of the platform -- and many of the historical or long-serving platforms don't have immunability. don't have built-in firewall protection and don't have all the things in es in today's environment, yet they are prevalent in the marketplace candidly, that's why rupert has done so well because their platform is in fact, modern has embedded security. ironically enough in 2005 when i acquired varitops, the belief at
the time, integrate security more deeply into backups and recoveries, lo and behold, here we are 15 or so years later, and that problem still exists. >> pull all of these systems, layers of technology in place, but many experts say preventing bigger future cybersecurity attacks will require a much greater degree of coordination between private and public do you think that the u.s. is making progress on this front? >> u.s. is definitely making progress biden's administration has really made the cybersecurity as a core part of the agenda. came across zero trust principles which is now the least principle that the government is encouraging everyone to follow in fact, we've built with a zero data management, data firewall built into it, and the important of this new biden administration is trust no one.
authenticate everything, and assume that everything else is compromised. that's really where the world is going and that's where the real defense against ransomware and other future cyber attacks will come from. >> same question to you. do you think the u.s. is making progress in terms of that coordination between the private and public sector? especially when it comes to, or compared to other countries like russia or china. arguably have much deeper integration? >> i think we are making good progress there has been, our have been, a number of meetings between the government and various candidly large tech companies on the security issue quite frankly, i think as time evolves we'll have to adopt a set of practices that are more common and more jointly or commonly applied more across the businesses in this country that being said, i think that the biden administration is off to a good start, at least alerting people to the emerging problem.
quite frankly, suggesting actions that need to be taken. i was with a group just this week where many, many years ago when i was working earlier started a cybersecurity industry alliance the group of leaders i was with just this week finally concluded we need to restart that organization to have top leaders of security companies interact with and engage with the top leaders in government. that's what moveded agenda back in the early '20s, if you will or 2000s, but it's now time to do it again. >> john, brings us back to the jedi contract, and what comes after it now that it has been canceled. now it appears that that's going to be multivendor. do you think that will make it more secure? will it raise new security challenges for the government to implement across different platforms and vendors? >> well, i think what really matters there is, what platforms do they choose and how secure are those platforms? and as importantly, how well do
they interoperate across one another? and i think given the growing exposure of ransomware and cyber attacks, there will clearly be a lot more focus on that in this cycle than ever seen before, i think. >> first time getting to talk to you, i wanted to ask you, since you handed over reins of chairmanship to chairman nadella. what's your perspective what that means and why it's appropriate given that investors recently as a couple years ago were pushing pretty hard to separate the chairman and ceo roles? >> well, for me, i think it had more to do with the performance of the company under satya's leadership than anything else. in my opinion, he's earned right to be chairman of the board here additionally i have a philosophy of board business, no xa on boards until i'm 90 years old. at some point i will transition off. the question then becomes, who,
in fact, becomes the chair in my sense two important issues one, transition to chair, and as important transition to the next ceo. we're not sure when that's going to occur, but i sure want satya to be around to manage that process just as i did in the last cycle. >> great perspective from you john thompson. thanks to you both. >> thank. >> thank you. and after the break, more on china's tech crackdown those names from yesterday's biggest laggards on the ndfs falling again this morning you can see, though, jd.com in the green. tshg "techcheck" it just getting sta started. >> announcer: "techcheck" -- sponsored by -- e's a cy and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7
cybersecurity stocks getting a boost following the recent cyber attack over the weekend. prime security up 37% this past year amid increase of attacks for the week, seeing lows surging to about 20% palo alto network around 4%. its best daily performance yesterday since late may and tenable, gaining around 3% breaking a five-day losing streak yesterday jon? >> and now you may have notice add trend in online media where instead of relying on digital advertising more are building out ways for the audience to directly pay for content
substack is one. talk to the ceo in this hour first, paid content is the topic of this edition of "the thread." first, ads in theory, they are great. a company offering content for free, charges companies to though them ads. this model worked for media outlets for generations but in the digital era a catch. ads work best when you have the biggest awed yudience and know they want. advantage google, physifacebookd know what's you're searching for. facebook knows what you want, following you around the web while you shop and knows who your friends are and google and facebook know the ads to sell and worth more than $1 trillion each newspapers and contract workers laying off workers left and right, but -- but -- what if you didn't need an audience of billions because your content was so good people would pay to see and hear it.
that's what netflix found out. paying for events. social media getting into the game too tiktok soon let's users buy personalized videos called shout-out and twitter and instagram let audiences pay for exclusive content from favorite users and followers and stories. where substack fits in newsletter platform, writers charge for reporting and opinions and substack take as cut. facebook wants in. last week they launched bu bulletin a service take nos cuts from writers for now. facebook became a juggernaut over already new ways to tie the new platform into the existing one. bottom line, paying for content getting more popular regardless who enables it. >> the discussion going. perfect person joining us. s.e. angel founder ron connolly. companies you may have heard of, google, facebook ron, good morning, and thanks for being with us.
jon mentioned, ad base model created trillion dollar companies. what sustains them can a creator-based model ever be a significant driver? >> yes i absolutely believe that the creator-based model is a new and growing segment that allows companies to thrive on the internet. but these companies, keep in mind, most of them get their -- they grow because they become influencers on social networks, and then from that, they build their bases. tiktok would be a great example. substack is a great example of the new creator economy. but they still rely on social media to go gather up the consumers of that content. airbnb and pinterest are great
examples of companies who originally built their base off of google, facebook, amazon. but now their brands are so powerful, that they can do that independently. but, remember, when a company is getting started, they rely on google, facebook and amazon to build their audiences originally. google, facebook and amazon have replaced online, the newspapers, shopping malls, tv and radio so google, facebook, amazon do provide a crucial, a crucial ecosystem for the -- >> yes -- ron. i get your point brand ed platforms important in building those up. many argue the platforms
wouldn't be where they are same time and largely gone unpaid in the case of google, facebook new platforms serving them better. what do you think is an appropriate amount for them to be handed over to the likes of facebook or apple or google? is it 30%? 10%? is it nothing? >> it's certainly not nothing. but those business models are evolving as this new, you know, creative content provider economy is evolving. but, yes there should be something, and i think that will evolve, and it will be based on the quality of the content. >> ron, if you are a creator or a creative company, can you trust the kind of ad-driven juggernauts in this paid content era just as much as you can trust a pure play? i mean, i think substack would
make the argument that the facebooks, the googles, have incentive to continue to feed the ad model just as much as build out something new. so maybe the incentives are more aligned with the newer players what do you think? >> it's all based on the quality of the content that the, the new creative economy is offering if -- if their content is compelling, they will get equal market share. >> but, i mean if you're the -- creator -- the content creator with quality content you get to choose who you want to partner up with to distribute it should you partner up with facebook or bulletin or partner with substack, whose interests are more aligned with yours? >> then it's a matter of economics. that is where there will be a negotiation, and whoever provides the highest commission or compensation, they will win
that's what, you know, the free economy is all about and -- and google and facebook will have to earn, earn that business. >> right but facebook can subsidize, right? take up the example of substack versus facebooks bulletin. facebook isn't charging anything you just said that's not the right amount they should be charging something. so who do creators trust a facebook not charging anything now but may turn around in the future and charge? >> i -- i think it's all evolving you know, we're in the first inning of this great, new emerging market, and i think it has to evolve. it's hard to say >> okay. well, we'll see and be speaking to the substack ceo later and will ask for his thoughts on that thanks for being with us. >> oh, thank you thank you. up next, are the
work-from-home names overbought? plus shares falling again. now down about 15% from last week's debut more "techcheck" straight ahead. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. ♪ ♪ ♪
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after the break, julia boorstin joins us from sun valley, butt plus check out shares of peloton. finish up better than 3% today, the seventh time it has done so in the last month. stay with us more "techcheck" is coming up. digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us.
welcome back to "techcheck." i'm deirdre bosa with jon fortt and julia boorstin joining us from sun valley. coming up, more on china's tech crackdown. didi shares down another 5% now as those stocks have gotten crushed. first, get a news update with rahel solomon. good morning. >> good morning. what's happening at this hour. the bill and melinda gates foundation will name new trustees to oversee the charity the work and that melinda gates could resign if she and bill aren't able to work together after their divorce. announcing a $15 billion donation from founder bringing total endowment to about $65 billion. u.s. treasury taking a break from a rally yield on the ten year falling below 1.3% and hitting a 4 and a
half low before recovering unwinding of short positions also. blackrock staying underwielding treasuries world's largest asset manager out with a midyear investment outlook. and blackrock cutting yot look from u.s. stocks to neutral even though the s&p and nasdaq hit new heights this quarter. and crossover blends competitive pricing and style. back to you. china cracking down on big tech state council considering closing a loophole allowing chinese companies to unveil on overseas listing this after the suspension of didi from chinese app stores over security concerns sending the stock down more than 16%
from its nyse debut last wednesday. beijing's moves cost chinese tech acts and down nearly 30% from its february high joining us now author of "what the u.s. can learn from china" and professor from peking university ann li help us understand what might be really going on here i hear this explanation about data security, but i don't understand why china would be concerned that china ride hailing data would end up in the u.s., because no reason to bring it here. is this really about data security or about control? >> it is a national security issue for china and let me explain why. so didi's ride-sharing app was used by many chinese government officials. so on ctheir servers informatio on where they were meeting, which secret roads they used a lot of information that's highly sensitive about chinese
government officials goings ins and outs and so forth. so because didi's company has an independent director that was appointed to represent the major investors, softbank, uber, apple, on didi, that person, that independent director, is a west point graduate. this is the reason why they see this as a major national security issue, because they don't know if this guy is going to report things to the u.s. government, given the heightened tensions between u.s. and china. and so this, you know, was a major concern. they brought it to didi. didi ignored them, and china's government says, we cannot have a company challenging the chinese government on this this is why -- yeah? >> the part about this i don't get. i mean -- the u.s. government doesn't have access to apple's data you know
or data on apple's ios users where they are necessarily, what messages they're sending, because of encryption rules apple adopted. why would a board member of dedid didi have rider information? >> i'm not a technologist. so i don't know what the capabilities are in terms of cyber spying, because we know that takes place and certainly there be very sophisticated applications that can probably get around things, and we know from, know, the, snowden's accusations of nsa doing lots of spying on americans, you know, using tech companies here to get access to private data i mean, i think that that is a concern of the chinese government, because they don't know what those capabilities are, and given that if it's listed in the u.s. stock
exchange, u.s. investors or the u.s. government could basically use a chinese company to blackmail the chinese government saying, oh, maybe we don't recognize chinese patents anymore, and, therefore, we're going to, you know, take back information and develop our own technology using chinese know-how i mean, they just don't want those kind vulnerabilities exposed, and that is, you know, part of the reason why they are trying to crack down on the, trying to strengthen their privacy rules around ipo listing and so forth >> right and at the same time, ann, didi's ipo raising broader questions about chinese companies that are listed here, or ones that want to list in the u.s. if didi was, in fact, warned by regulators, chinese regulators, ahead of that listing, that it should delay its ipo, and investors were not informed
who's responsible is that didi the wall street investment banks supposed to do due diligence on this deal? is it another party? do you think this should scare off investors interested in all chinese companies? >> it's difficult for me to comment on that, simply because i wasn't there to observe the whole process of which information was shared by whom and whether the due diligence as thorough enough. i can basically say that for investors, they should just be aware that the chinese government's, you know, objective, is always to protect, know, the national security interests of their government, their country. and, you know, for u.s. investors it's about profit. so -- you know, as -- you know, these chinese companies are being hit right now, in the stock exchanges, i could say that it's a political issue.
i think that it is short term, it's a short-term buying opportunity, because once these political issues are addressed, i think these companies will continue to grow especially outside china, and that would mean that, you know, there's, you know, infinite more upside here after they get past these hurdles. >> yes i guess if -- markets outside china believe they can trust these companies after they bounce the chinese government. ann lee, thank you. >> thank you. media moguls meeting in sun valley and consolidation is top of mind for a lot of execs there. our julia boorstin is there all week with live coverage. >> jon, of course, a lot of deals come out of this conference, and this year the conference comes on the heels of discovery's merger with warnermedia as well as amazon buying mgm discovery ceo david saz loffe telling me despite doing a big deal he's not done with deals yet.
>> we're just about great content and talent taking it around the world in every language that's gives us advantage. i think more consolidation we want to get this deal done, but over time, i think that there's a lot of assets out there with good i.p. and final probably find homes. >> warnermedia chief is also here unclear what his role will be, if any, at the combined company, but his streaming service hbo max is in focus along with sherry redstone's paramount plus, of course, part of viacom tbs. questions whether her company could be a buyer or seller as streamers look for more scale to compete with netflix netflix co-ceos both here arrived yesterday. also other media moguls here including barry diller and imagine's entertainment brian grazer grazer said she thinks this is
win for creators like him, and a bunch of tech categories also in focus represented by a number of ceos crypto, xapo and coinbase here and biotech, ginkgo bio works, illumina and cybersecurity players as well. tamian and lookout and hearing cybersecurity particular is top of mind for a lot of the ceos here across industries deirdre? >> there and probably everywhere julia, thank you for that. looking forward to your first on cnbc interview later with linkedin's reid hofer. "techcheck" is back in just a minute. above everything? you decide fast... is never fast enough. you put muscle over matter. and you make horsepower...
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work from home stocks up big over the past month, but are these names poised for correction as they rise above street estimates dom chu breaking it down for us. dom? >> deirdre, look at the big winners from that work from home trade era, some of the cloud infrastructure remote work and cybersecurity-related stocks hosting big gabe gains over thet months names like these, given a recent jump in hacking and focus on cybersecurity. some of these moves actually
pushed these names above or in-line with average analyst "f" trading higher and you can see prices here. ratings from perspective, analysts split between buy and hold ratings for all three of these names. we'll see whether players like these are nearing a pullback or if that big run can continue over the past month. then there's the more consumer focused named like zoom communications, peloton, roku, you know them. bouncing off lows frommaler in t earlier but trading in recent highs. these names trading just below average analyst target prices here you can see signaling there might be, perhaps, a little more room to run despite the run we've seen also worth noting, by the way, guy, the street is largely bullish on roku and peloton.
75% or more of analysts who cover those stocks have them at a buy or equivalent rating that's according, again, to fakset keep an eye on these names seen resurgence given what we've seen in terms of, jon, the variant kind of emergence from covid-19 see whether that works long trade still has legs here. >> popular with critics at least. thank you. still to come, an exclusive ceo of sstk. ayitus. ubac
newsletter company substack founded just for years ago, but it has the media industry on its heelsting power into writers hands allowing them to committee on their own a $650 million lender round this past spring and spawned copycats from twitter to facebook surprise, surprise and an exclusive interview, substack's ceo co-founder chris best thanks for being with us, chris. start with the basic question. what is substack's role in the media landscape? can your newsletters, a direct to readers newsletters, replace a traditional newsroom, and should they? >> thanks for having me. you know, we started substack because we think what you read matters, and the current media
landscape dominated by social media is making us angry and dumb and breaking our brains we think we need a real alternative to the business model, the engagement-based model that creates and we see substack, a platform for independent writers as an alternative model that puts writers and readers in charge for the benefit of all >> how is that different than a traditional newsroom chris, i understand your point about social media, but our traditional newsrooms still doing and serving in that role >> the thing substack makes possible is for you as a writer to go independent. didn't used to be possible to strike out on your own and connect directly with your audience you have an incentive to earn and keep the trust of your audience rather than serve, serve whatever, whatever other thing you had to serve before. >> chris, this reminds me a bit of niva, the search engine we
had on just a few days ago that's doing paid and subscription rather than free search subsidized by ads and the ceo, co-founder there says a matter of incentives like, yeah, google to launch a paid search engine and say they're not going to use your data but business model incentivizes them to do otherwise. is that your argument why facebook's bulletin isn't an alternative to substack? >> yeah. exactly right. you know, at heart of substack is this new model that changes the fundamental rules of how the business works right? it changes the incentive structure. so readers know that on substack they're subscribing to someone they can trust that has incentive to earn and keep their trust. facebook is a whole business that's built on advertising, built on engagement. if they try to make a clone of substack it's like an oil company launching a solar energy thing. it's laudable, cool, but they're not shutting down the pumps.
>> how will you survive? facebook is big. when they launch a newsletter platform they can afford to undercut you on price and let writers charge and not take a cut. and meanwhile, as far as i can see, you don't have an app, right, to help do signups. you have to give apple a cut if you did that i mean, that's a lot of big powers to fight. isn't it >> look, there's no way to be a successful company without ruffling a few feathers and going rounds with the big companies that try to get in on it, too. we support writers, free to publish to start and when you really make money when writers make money the writers know what our incentive is right? incentive alignment isn't just between readers and writers. also the writers and substacks they know what we're doing, know we're here and can trust us when
we say that we're in in support of writers do think facebook can say that. >> facebook is trying to say that, chris, and trying to align their incentives better as we talked about earlier with ron conway in the show facebook has grown on this ad based model but increasingly looking towards a creator model. why should creators be skeptical of this? i loved the response to bulletin saying that the rings are sorsore zoron were free also can you explain it >> yeah. i mean, the -- the reason this new model is taking off, this model where people want to connect directly with writers they trust, with independent creators, it exists in opposition to the current status quo on the internet, which is that everything is free. you pay with your engagement and the job of the platform is to keep the users addicted. to grab as much of your
attention as possible in order to show you advertising. the model that substack is at the forefront of that this, this new thing that's being born is in opposition to that. it's taking that down and saying to people, look, there's a real alternative wave to spend your attention and life you know that these that you're reading are making you crazy here's a real alternative. alternative model. you don't need a million clicks jut an audience of people that trust you. the people that bring about this new model are not going to be the people that created the problem in the first place >> right pie by the way, the rings of zoron were evil. majority of newsletters are still personal writing opinion pieces research, analysis how do you incentivize original
reporting or do you think traditional media still plays the best role there? >> i definitely think substack exists alongside traditional media. we don't see ourselves as disrupting traditional media but disrupting social media. i think there's a wide array of types of writing that work on substack there is a lot of opinions, a lot of analysis and culture and humor. the journalism part is exciting and i think we can -- play a major role there substack launched in a local -- substack local program helping restart local journalism in places where it's been struggling financially i think we can do a lot in a journalism on substack it's great, but don't need to be the only answer to that. >> well, chris, we look forward to seeing how substack evolves thanks for being with us chris best, co-founder and ceo of substack. >> thank you meanwhile, continuing to
monitor former president trump announcing he will sue facebook, google and twitter and their ceos we'll look at that legal threat, next. woo! you are busy... working, parenting, problem solving. at new chapter vitamins we've been busy too... innovating, sourcing organic ingredients, testing them and fermenting. fermenting? yeah like kombucha or yogurt. and we formulate everything so your body can really truly absorb the natural goodness. that's what we do, so you can do you. new chapter wellness, well done. this past year has felt like a long, long norwegian winter.
♪ west virginia, blue ridge mountains ♪ shenandoah river ♪ new this hour. former president trump filing class action lawsuit against facebook, twitter and alphabet eamon javers has the latest from d.c. what's going on? >> wrapping up a conference's in bedmondton, virginia filing a class action lawsuit against the tech giants for removing him from their services, violating terms of service and brought up a lawyer to make the legal case the lawyer says they will argue these entities are in fact governmental entities and, therefore, this is a freedom of speech issue there you see the site in bed mo minister where this wrapped up the supreme corporate should be
ultimate arbiter who can say what on social media not the companies themselves the difficulty president will have these are private companies. as private companies have terms of service and say that the former president violated those terms of service in his calls to potential violence around the insurrection of january 6th. that was the inflection point in which those services decided to ban him in the first place the former president airing a number of grievances to ed in new jersey, and flushing out what this lawsuit is going to look like. we'll see if it gets any traction in the courts they like the venue in southern florida where they filed this lawsuit, deirdre. >> eamon, a novel argument, sounds like. also quite a bit of republican fund-raising. >> it is. >> email traffic off of the big tech's assault on conservatives as they would frame it to what degree is this a political argument just as much as it's a legal one? >> it's a political argument it's venting, frankly, jon the former president is
frustrated with his inability to access those services, though he was asked during this press gathering he had whether or not he would rejoin twitter and facebook and youtube and the like if able to get access, and he said i don't know i would necessarily. remember, some supporters formed their own social media entity trying to gain traction with if the former president is going to be anywhere, might want to go on those anyway. he's saying, i want to get back on but not sure even if they he me i'll rejoin. >> right eamon, some might say looking for attention here i find interesting, presser an hour long or more and few networks took it fox business stayed the longest. what does that say about his stability since taken off those platforms? >> a waning figure politically certainly in terms of main stream media and goes right after them in this press he thinks that those of us who work for large news organizations are biased against
him and ultimately are unfair to him. and this is part of his series of complaints. big media and big tech knoll as well >> eamon javers, thank you. just want to note. before we hit noon, central one, we mentioned several times up 5% up about 23% on the week that does it for us. "halftime" starts now. and steep rise in tech thanks, jon. how long a winning trade likely to last for nor money. debate that today with our injechlt committee joining me, good to see everybody today. we begin as we always do a look at stocks and ten year. that remains a very big story. ten year below 130 a short time ago. stocks all over the place for the most part. dow's holding ton a 57-point gain s&p and nasdaq in green as well. several big growth