but the overall metaverse narrative is more google glass than google search, joe. >> i think you just took a stand, john. i don't know you seem more animated about the ought hand side of this how do you think investors will tell the valuable parts from the hype >> well, joe, tech does this every once in a while. big tech companies decide to put a bunch of marketing ideas, sometimes it's too soon. ten years ago, part is cities and really it wasn't time for that yet you really got to watch where the demand is, where the end user demand is leading, not just, where oh, boy, if we want to connect all these dots, this should be what the future is the future that thinks things should arrive often doesn't. >> we were talking about disney and throwing out the metaverse for disney where do you put that? if it's a tech thing, disney is out there, how do you evaluate that >> disney has genuine depth of concept. they bought up modern mythology in a certain way blue clunk metaverse, once this free marketing concept facebook and others are putting lots of ad dollars behind, everybody will pick it up

>> there is a lot more spend going to google right now. people are talking about their product listing, ad prices going up etsy is so long tail we're buying things that are so scarce that bereally haven't seen a lot of price pressure and our performance marking continues to perform really well, in fact, the third quarter came in a lot higher on margins than we or a lot of people expected, because we pulled back on a lot of our marketing in order to test incrementality to test the extra return we are getting from that marketing. we were really pleased our organic traffic stayed strong. the q3 results were really strong on the top line, in spite of us actually pulling back on marketing. now in the fourth quarter, we're certainly going to be marking. we'll be loud. you will remind people of how etsy is different. it created an emotional connection this is exactly the right time for us to be telling our story. >> josh. so looking forward to seeing you soon >> thank you >>> coming up, aurora making its debut on the nasdaq today. we will speak t

we will be coming back throughout the day diana oleg thank you. >>> joe. >>> coming up, former google ceo eric schmidt joins us for a wide-ranging conversation, ai and ambition next, we will speak with wyoming senator cynthia lummis on d.c. spending and all things crypto she's kind of a crypto fan in washington or congress, stay tuned. are you watching "squawk box." on cnbc live from the nasdaq markets in time's square >>> make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. pure protein bars and shakes. for every fitness routine. i didn't have to shout out for help. because you didn't have another dvt. not today. one blood clot puts you at risk of having another, so we chose xarelto®, to help keep you protected. xarelto® is proven to treat and reduce the risk of dvt or pe blood clots from happening again. almost 98% of people did not have another dvt or pe. don't stop taking xarelto® without talking to your doctor, as this may increase risk of blood clots. while taking, a spina

google has got streaming, it's got serge, it's got youtube and the other businesses people might pay a lot for. >> let me ask you quickly about comcast. we talk about toy companies only doing well because they can kind of sell their stories into media, they want to be more and more media companies than anything else. if you spun out the parks or the content, all of those synergies supposededly there would go by the wayside. is this where we're dealing with fickleness on wall street, where what they like now is what what they liked a few years ago and may not be what they like a few years from now. >> there's been a mania to own content and no one can predict what content is going to be valuable you can license it and apply it, it's just not clear that the capital investment and content is worth the price to investors, particularly those looking for a steady stream of revenue and earnings that they see as predictable. yes, it could be that it's a change in style or interest, but if you look at the numbers, it's not always the right investment. >> karen, i want to thank you for your ti

. >>> making headlines hundreds of google employees have signed a manifesto. asking the tech giant to restrakt the mandate and enact a new one inclusive of all googlers they've asked employees to upload vaccination status by december 3 google has already said all employees that work directly or indirectly with government contracts must be vaccinated even if working from home. i spoke to a ceo yesterday they dug into it in a way i've never heard before they are dealing with, should we vaccinate? do testing the ceo was saying he originally wanted to do testing, the cost is actually astro nom call the cost of running the testing program. one idea that you could legally force the cost of the testing to the employee even if you do that, for hourly workers, you have to pay them for the time it takes to go get tested effectively, we are trying to solve for 15% of the population that we think is doing the wrong thing to begin with. it was fascinating understanding the dynamics and more companies where you force the issue mib now as a function of cost. >> i think the t

meantime cnbc has learned a defense department cloud contract was a hot topic of conversation at a google all hands meeting last thursday. the ceo read an employee's question outloud about the government's capability program. google did not bid on the predecessor contract because it didn't align with principals, no work on technologies that could cause harm they asked what changed. in response they said there's many areas of the contract that could be brought to bear with no issues with google's principles. it is a sensitive balance for the company, which is trying to bolster its cloud division with high profile deals while placating an increasingly vocal employee base. >> so nice. >> do no harm, right >> hopefully they took that same focus on all their investments in china >>> coming up, the big takeaways from last night's meeting between president biden and china's president xi we'll take you live to beijing next and in the next hour, don't miss our interview with the carlyle groups david rubenstein. and a reminder you can watch or listen to us live if you so choose any time on the cnbc

we see a lot of opportunity with the google cloud platform. a lot to like here with today's sell-off that's a longer term out view. >> in terms of today's sell-off, meanwhile, we should say there are some stay-at-home stocks, you can see them, peloton, zoom and the like moving much higher. does that make sense to you? >> in the very short term, i understand why they're higher. clearly amazon we appreciate ecommerce. it has become even more important. what is key for us if we look at the advancement, the healthcare community, the technology community, that is helping us to find a way out of this, the pandemic so while spikes and variants are going to be a part of the dynamic really the social fabric, everything around us for the foreseeable future, we still see opportunity. it's driven by innovation. it's driven by investment and by companies that are looking out beyond some of this. and if those companies could do that, there is shareholder value to be created. >> in terms of pricing, though, one of the big other questions is what j. powell wi

a couple quick headlines for you this morning google has lost its anti-trust value with the eu. they uphold an order to pay a $2.8 billion fine. the verdict can be appealed and taken to the eu's highest court. you can see apple shares down by .2 of a percent and coin base share dropping after they miss the street's expectations coin base reported weaker than expected revenue for the first quarter. the number of monthly transacting users dropped by the prior period that's off by 9.5% we should point out bitcoin and etherium pulled back ever so slightly, this morning bitcoin still at about 66,000-and-a-half -- 66,533 dollars. >>> when we come back, a conference which brings together some of the most influential minds in business. policy and culture we will have highlights after the break. >>> check out the futures. a little pressure when it comes to the dow, down by 47 points, the nasdaq down 69 s&p off by ten, remember, we have been paying new highs every day for quite a while. s&p have gone eight days in a row. "squawk box." will be right back is that tom brady? yeah. he comes i

we also have this big day from the tech giants, the digital players, you know, apple, google, amazon, salesforce, et cetera now these stocks can perform well earnings wise both with big reopening or even if there's some type of slow down or potential reclosing in places because they're agnostic no how people are working and where they are when they are receiving their communications and sending them and they're a big part of the market so that's almost a protective bubble we think you have to believe that both sides are possible buyers, sellers, weakness, better news, and so try to find the middle ground where you have some reopening, some steady growth, play those types of names on both sides of the spectrum, and there are names that, of course, are way down, because there's a lot of tax selling. if you look at disney, discovery, auto desk, vertext, bumble, beyond meat because once they started to go down, they continued to hammer, hammered by investors who need some place to take losses versus the big gains we've had this year. >> if everybody is looking at 12 months at the world, w

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