three rounds of silicon valley funding for her idea before she was 24 years old. under friendly questioning from her defense attorney, one of her against attorneys, kevin downey, she talked about the early days of theranos. how she dropped out of stanford at 19 years old after doing some research on microfluidics which became the basis for her invention. initially she thought of a pill people could swallow that would send out data in realtime over how somebody was doing healthwise then it turned into a patch. ultimately after dealing with pharmaceutical companies and talking and doing more research, the idea of this microblood testing device, which ultimately did not work again, by the time she was 24 years old, she had contracts with big pharmaceutical companies. pfizer, glaxosmithkline, bristol-myers squibb all of this now on display for the jury as they get a sense of the elizabeth holmes that dazzled wall street, dazzled investors and dazzled silicon valley a lot more to come next week, including potentially some pretty rough cross examination. >> scott cohn l

big data to help solve the problems faster and sense in the heart of silicon valley she realized there was a potential business and took the pandemic to show the world how big health tech could be. >> there was a lot of interest but not a lot of uptake and when covid hit suddenly the entire medical infrastructure on the research side needed a technology to execute clinical trials so within a week we got calls from all over the world saying could we use your telemedicine and use vital signs? everything shoifted from 5% of the industry to north of 60%, 70%. >> it is entrepreneurs like this that remind me how big the transformation is that's happening in data and cloud. industries not getting the full benefit of measurement and artificial intelligence. think about the clinical trial groups not relying on those close to a hospital. >> my understanding is there's a way to speed up sort of fda approval of drugs and maybe related to the clinical trials. >> she said that the process for getting a drug approved takes about 12 years and that's the enrollment and speed that up by a factor of thre

valley, robots don't get tired. they don't drink they are a steady hand it seems like in some ways they do a better job. >> i think today we see it as an evolution. we've always been part of trying to provide -- enable our frontline employees to be more efficient, drive greater productivity, starting off by providing a mobile computer or scanner. but today with a mobile robot, you can now offload a lot of the walking time that they have. if you look at somebody who works in the warehouse, they routinely would walk six to eight miles a day. and with robots, they can walk much less. so it takes away a lot of this. >> that's the kind of waste that's eliminated. that's great. >> this is much more efficient you still need a worker to do certain tasks. >> now, when we first started talking about health care, it was something you wanted to dig in. >> yep. >> but now you're a dominant force. how did that happen? >> we were very early getting into health care in our space. the catalyst for this was around the medical health

valley >> he speaks the truth i've seen one technician last week or so say the ndxs unwillingness or inability to buckle in a rising rate narrative has to be respected. and they took off their cautionary call. i wonder if that's how you see things developing right now. >> so, carl, i do think that we have to remember that tech intrinsically is actually deflationary in its nature you have this effect where cost structure is declined with scale and get more impact results from them so when you look at software names in particular, you find that the compute are naturally riding this declining cost curve. you can combine that with real estate rates and the lack of physical inputs that other supply chain issues are facing manufacturing industries right now that are driving costs up. and i absolutely would argue that software costs are somewhat immune from the inflationary dynamics on the flip side, on the revenue side, you have high vendor lock in and pricing power that suggests you can run pricing up in a forward inflationary environment, if you choose to, which would actually be net mar

it's teaming with silicone valley start up called gaddack to relay online grocery orders the truck traveling in a 7 mile loop from fulfillment centers from bentonville arkansasto a nearby store. >>> and the stock trading platform robinhood suffering a data breach. the company reports it happened last wednesday robinhood reports the e-mails of about 5 million customers were compromised but that no social security numbers or financial information was taken. >>> on wall street, all of these at record high closes. the dow up 104 s&p up 4 the nasdaq up 11 >>> i'm shepard smith on cnbc. it's the bottom of the hour, time for the top of the news >> one bill down, another to go. can congress passes rest of president biden's economic agenda >>> prices soaring, services lacking. welcome to skip flation in america. but first, at long last, the u.s. reopens to the vaccinated world. >> it's a monumental day for america's covid recovery the united states welcoming in international travelers for the first time in nearly 20 months vaccinated tourists are rushing to border check points across the country. thi

valley story over and over again. we are seeing it right now don't underestimate the impact these people are going to have on the normal car market it is really hard for incumbents to -- like the ford f-150 lightning, it is going to be hard for ford to go after rivian it may sound strange to you but they have legacy to deal with. >> sure. >> you go to the dealer, should you buy a gas 150 or electric 150? it makes it challenging for ford to push its scale on the market whereas rivian has a really clear direction and they're doing direct selling like tesla. >> i totally - >> i think you are going to see evs win over the legacy car over the long run >> i agree with you 100% on that i mean obviously the legacy automakers will catch up because that will be the market. they have no choice in that sense. but when you look at the production that tesla is operating at and the amount of time it has taken them to get there, the manufacturing nightmares, still bringing austin and berlin online right now. the issue with evs is not

some students see the course as a prerequisite for high-paying jobs in silicone valley. here's cnbc's kate rooney. >> i think as long as we put it together -- >> reporter: learning about blockchain is about a lot more that finding the next big cryptocurrency, at least for some students. >> when you get into crypto more, you kind of realize that a lot of what you learn in school is kind of useless >> reporter: he says it's the key to unlocking his dream job in tech. the college junior co-runs the blockchain club at cal berkeley. he and some of his classmates describe it as the next wave of the internet, which some talk about as web 3.0, especially as facebook changes its name to meta and hypes up blockchain as part of that future. >> a lot of new companies like facebook just used meta so if the biggest companies in the world are transitioning over to blockchain, it kind of feels you are being left behind unless you move with that >> reporter: berkeley is one of a handful of top universities now offering courses on blockchain competing with harvard, stanford, m.i.t., corne

valley that outsiders rarely get to see. just how reckless investing in startups can be. one investor testifying that he asked the company for audited financial statements theranos never gave him any, but he still invested $6 million anyway another said his firm invested $5 million, even though it didn't understand at all how the theranos' technology worked. maybe because it didn't. the investors say they believed the data provided but they were often given false information. it also came down to holmes' charisma he was touted as a visionary, like steve jobs, who created a sense that investing in theranos would be exclusive and elite cnbc recently got our hands on taped depositions that could offer clues as to how she might testify if she takes the stand here's cnbc's yasmin corum. >> she was the world's youngest self-made female billionaire who was never at a loss for words. as you'll see in this nearly four-hour deposition obtained by cnbc, it was a much different elizabeth holmes who hardly said anything the date, june 27

. >> it's something that in silicon valley it's happened before oracle hp at times had that it's an interesting set-up in lieu of becoming executive chairman interesting too with twitter link and - >> maybe they'll buy it again or try to. >> maybe that's one way out. the terms of the stock response of salesforce to me about how tightly stretched it was looking at the free cash flow that's one to way to look at the valuation. as low as it's been in the history. >> only point going from the question markings of a founder led leadership to the busy people chairman of twitter is a big job when you have a new ceo and promoted co-coo at the executive job. it is kind of quite interesting that that's how it played out there. >> it is twitter had half a ceo before this. >> an improvement. >> but also you have to wonder if it's a change of the duh the is or a change of title. >> president and coo and running a lot of -- benioff has the hand in everything and very involved in the other project just the stock down 7% on the guidance miss we have box earnings also out? deirdre? >> smars up as much as 5% in

valley funding from major players before she was 24 years old. now things get harder. she and her attorney have to make sure they don't open too many doors for cross-examine look at this one, for example, when she's questioned about a 2014 "fortune" afrticle >> were you aware this article was included in the binders and materials that they are athought sent to other investors? >> i don't know. >> did you ever ask for this article to be included in investor binder? >> not that i can remember i don't know >> there is a fascinating bit of clock management, there's only two days of court this week, so what will the jurors be left with po to ponder? confident holmes or elizabeth holmes on the defensive? we will see. guys >> so just to play this out, that's just, you think -- not the prosecution, rather, but the defense will try to keep her and hold on to her until wednesday, and then have the defense work this next monday is that the idea >> reporter: well, that's a possible it depends they have this sort of parallel battle here of the defense doesn't

valley and said we will build software programs for the u.s. government they said why would you build for the government in they are hard too work with, and data is useless. no one will believe the product war. something fully align with your clients is not smart you should turn your clients and the u.s. government said build your product in the way we want, powerpoint developed by someone who was not technical for something necessary in the '70s. we didn't do that we built a number of products now on the market and winning in the market to do that we've hired the best and most interesting eclectic people in the world. they work at palantier for lots of reasons we continue, we will continue to develop these products and continue to comp people and we are very, very focused on being fully aligned with our clients and actually aligned with people who own our stock. what does that mean in the real world? it means that we will continue to be very focus on delivering value. we will continue to comp people. i don't believe we are deluding people into