and that's robin hood's crutch that they rely on. a lot of traders, not long term traders and hardly so one big coin didn't do anything for a couple months and just kind of flopped around the 38000 support line. people lost a lot of interest. and then of course, as a 2nd reason, which was the death of those coin. as michael just mentioned, a huge portion of robin hood's revenue came from crypto training, specifically don't coin. and i think all of you know, my feelings on those klein are ready, but those coin had been responsible for about 62 percent of crypto transaction revenue. robin hood in the 2nd quarter, but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dumb coin and ignore i. some the real projects out there. when i know something we've talked about a lot, righ

so let's talk about that so yes or no, can a robin hood customer invest in robin hood the company? >> robin ood's currently a private company, so that's not possible no >> and so you mean to tell me that the people that use your platform that make you a successful company and i would say directly contribute to your company's exponential growth and success, they don't get the same access to equity shares as a robin hood employee or your institutional investors, is that correct? >> currently that is correct, yes. >> all right miss schult, let me pivot to you. why is that? why is it that every day investors on the robin hood app, people i would argue contribute to its success, can't invest in robin hood, itself >> the sec limits a lot of investment in private companies to those folks that are known as accredit investors and to become an accredit investor you have to meet a wealth test of earning at least $200,000 a year or having a net worth of over a million dollars. the vast majority of people in this country don't meet that standard and are unable to invest in most private companie

why jump into that for a with robin hood at this moment. while at the same price, it's the same reason as why you walk into a good you store and you decide to buy a bag. when it's on sale, you don't buy it when it's on full retail price at $60000.00. you buy it. when instead of 50 percent discount though, right now it would be the optimal time to actually jump into crypto because of the price drops. so it shows that demand is still robust. it's still really high. and robin had actually how it got a head start. they launch bitcoin eith, trading in the u. s. early in 28 at 3000000 for this year. prescriptive business. so this is despite the fact that it has very limited trading features and has listed less than 10 assets on its platform. that's a big failure because half of them are all derivatives of bitcoin and east. so basically very limited features and capacity. so if for tool and tiger broker can launch their commission free crypto trading platform, they will stand to take a lot from robin hood business and customers are hungry for othe

was tried for the murder of robin samsoe. >> one of the stories that marianne connelly, robin's mom, told was that during the 1980 case she actually showed up with a gun. >> her plan was to shoot alcala. she really didn't care about anything else at that point. she wanted to avenge her daughter. >> in those days, they didn't have metal detectors, or they didn't use them, so she got into the courtroom. >> i remember she was very calm. she just kept saying, everything's going to be okay. everything's going to be okay. >> the trial began, and she had her hand on her purse. and she was ready to kill the man who had murdered her daughter. >> i do remember her telling me that she heard robin's voice and told her not to do it. so she had changed her mind. >> on may 8, 1980, the jury on the robin samsoe case deliberated less than five hours. >> rodney alcala was convicted and sentenced to death. he was taken to san quentin where he was put on death row. several years later, an appeal came up, and to everyone's shock and sorrow and horror, the case was repealed. >> the verdict was overturned

robin hood online brokerage has been one of the hottest been use for investors in retail trading. now it's a target of disgruntled customers celebrities and politicians here's the latest on that robin hood shares in the u.s. store game stop were down until a chat group on reddit recently banded together to buy stocks that sent the company skyrocketing undercutting major hedge funds who were shorting the stock but on thursday those shares tanked after robinhood restricted purchases of new stocks of game stop on top of that robinhood also blocked a new trades in several other companies including amc blackberry and nokia which were also soaring because of the chat group users on the app can still close out positions but can't buy more adaptive da blogger dave portnoy says robin hood can't just try to block online trends simply because they don't favor traditional trading there's no way to force you to add and that's why things we want to get or you can just pick up and change the rules at a whim whenever you feel like it like why can't a bank if i make a deposit just say that's our m

so how have sites like robin hood so dramatically changed the face of retail investment? yeah, the rise of retail has really force wall street to take notice, especially after the catastrophic losses. they face when institutional got squeezed and started losing billions and names like game stop and blackberry. so they completely changed the landscape of investing, especially after blowing at some of the biggest hedge funds like melvin capital institutional. they train on fundamentals, they look at earnings, catalysts financials and global climate. and all that to determine price points of games and their market cap to look for opportunities. but then retail rely more on sentiment and hype and to that. and it's a complete divergence from fundamentals because you look at a name like game software and see, and any institutional of b, like that's dead money, short it. but then all the retails ban together under their love of gaming and saving the movie theaters and movie business and manage to squeeze out all the hedges game. stop rally over 2000 percent this year, which is j

david: tell people what the robin hood foundation is. some people think of robin hood as stock trading, but that is not what you do, right? wes: that is not what we do. it was amazing, during the whole gamestop episode, people were blowing up my in box saying, unblock my trades. i said, i have no idea, but i wish you luck with that. but the robin hood foundation is a 32-year-old organization with an exclusive goal of ending poverty. it was started by paul tudor jones and a collection of other people who were in the investment business. and they started this foundation with a say, we want to take metrics and best practices and invest in the organization we think has the highest probability of being able to end the scourge of poverty. and they started off making $40,000 worth of investments. now 32 years later, we have allocated just shy of $4 billion into this work and fight. and we fund everything from education, housing, transportation, mental health, physical health, criminal justice reform, anywhere poverty is the cause or consequence

and jim said goodnight to robin. - [lehrer]: hey robin - - [macneil]: i guess that's it. - [lehrer]: yeah. hey, good night, robin. - [macneil]: good night, jim. finally, i'd just like to say to the audience how grateful i am to public televisy and to all the 300 local stations who carry us for the opportunity you've given me to work in a manner i could be proud of when i went home every night. but that applies equally to our viewers. wiout you, no program. there are now some 5 million of you a night, and you express a loyalty to this program of a quality i've never experienced anywhere else. thank you for understanding what we do. you'll find all the same values there on monday night and in the years ahead. thanks and good night. - [glover]: the end of one era meant the start of another. now with jim as sole anchor, the name of the series would change again to “the newshour with jim lehrer.” (triumphant horn and string music) - [lehrer]: good evening, i'm jim lehrer. - [woodruff]: i had a conversation with jim and he was talking about what he wanted to do with the program, and it

david: how much money does robin could give away -- robin hood give away annually? wes: when we think about the process of the last year, we ended up raising around $240 million. just in the past four years that i have been ceo, we have raised over $675 million, but there are -- million, but the unique thing about our model is that there are certain foundations that will take a portion of the endowment and allocate that to grant making. robinhood posco -- robin hood 's endowment is essentially zero. right? the uniqueness of our model is every dollar we get in, it will go out within the next calendar year, so on january 1, it is like press go again. we raise and then we get the money out as quickly as possible. david: who pays for the staff? all the administrative costs? usually come in -- usually, in some foundations that can be 5% to 10%. wes: if not more. the other unique mechanism of robin hood's model is the fact that that our board covers all operational expenses. david: covid must have made it more difficult to raise money or figure how to give it away. and ru

robin hood in the 2nd quarter. but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dom coin and ignore i. some the real projects out there. when i know something we've talked about a lot, right? if you're getting in and you're making money, then life is great until it starts falling. and then all of a sudden you're losing money. so it'll really be interesting to see how robin hood moved forward with that. and if they continue to really focus on some of those mean point. now michael, i want to shift a little bit. i know that when we're talking about really just crypto currencies in general, a lot of those mainstream currencies are facing a tough road and have a tough road in recent days. but at the same time, we've also got j. p. morgan revealing that s

people are just still in shock that you know there could actually be you know the whole thing with robin hood is that it's a democratization of trading right and so what you have kind of coming together is this 3 kind of platform that came together with you know basically social media chat room reddit right and you had 3000000 people on wall street that's a group that basically said hey let's beat these hedge fund that their own game and their own game is the sure ok so it's called a short squeeze and not to get too technical but what happens when you are shorting a stock when hedge funds are shorty they're borrowing positions that they think will go down they're selling them as at the current higher rate and then as they go down they basically buy them back at a lower price make a profit or replace them so they're really truly betting against the stock so basically what happened was this chat room group said hey let's all buy these particular stocks and specifically game stop and answer because you bet yes and let's make we call a short squeeze on these hedge funds and it did cost a cer

robin hood's endowment is essentially zero. right? the uniqueness of our model is every dollar we get in, it will go out within the next calendar year, so on january 1, it is like press go again. we raise and then we get the money out as quickly as possible. david: who pays for the staff? all the administrative costs? usually, in some foundations that can be 5% to 10%. wes: if not more. the other unique mechanism of robin hood's model is the fact that that our board covers all operational expenses. david: covid must have made it more difficult to raise money or figure how to give it away. and run the foundation remotely, so how did you do that? wes: covid was -- covid in this past year was remarkable. and there was a lot of uncertainty about what does that mean in terms of how we continue to move at a quick and fast pace despite the fact that we were not going to be together. how do we consider the fact we knew how damaging this was going to be on our communities and our community partners? we saw 11 years of job growth go away in 11

it's ceo here, robin hayes. great to see you. how was the flight? robin: the flight was great. we left early and got here early, and we had a wonderful trip over. tom: no stacking --guy: no stacking over he screw -- over heathrow, which used to be something of an experience. let's talk a little bit about heathrow. this is a tough airport to get into, to get slots at. you've got a temporary slot allowance here. other carriers obviously aren't using them. how easy is it going to be to make that permanent? are you going to be able to make heathrow your permanent home? robin: we are so happy to be at heathrow. we don't have any plans to leave heathrow. you're right, it is not going to be easy, but we thing we have a path that will allow us to stay here. if you look at what's happened with the fed before jetblue started this rub and what's happened now, did you ever think you would see our competitors offer business class under $2000 between jfk and heathrow? and it is not covid because these fares were even higher during the covid period. we have to be able to stay at heathrow. guy

david: tell people what the robin hood foundation is because recently people think robin hood is stock trading. that is not what you do, right? you are not that robin hood. wes: it was amazing! during the whole gamestop episode, people were blowing up my inbox saying " unblock my trades!" i'm like, " i have no idea how to unblock your trades, but i wish you luck with that!" the robin hood foundation is a 32-year-old organization with an -- with the goal of ending poverty. it was started by paul tudor jones and a collection of other people who were in the investment business. they started this foundation where they said " we want to be able to take metrics and invest in the organizations we think have the highest probability of being able to end this scourge of poverty." they started out making $40,000 worth of investments. now 32 years later we have allocated just shy of $4 billion into this fight. we fund anything from education to housing, transportation, mental health, criminal justice reform, anywhere where poverty is either the cause or the consequence, we will find, fund, build i

professor robin, l one, thank you. professor robin, becky is under 30, becky has had the usher —— had the robin shattock vaccine and wants to know what she has to look out for in terms of blood clots now. , ., , ., ., ., ., now. things to be aware of, a persistent _ now. things to be aware of, a persistent headache - now. things to be aware of, a persistent headache lasting . now. things to be aware of, a - persistent headache lasting more than four days, blurred vision, confusion, shortness of breath, chest pains or swelling of your legs or a long—term, persistent domino pain, orsome kind or a long—term, persistent domino pain, or some kind of severe bruising around the injection site —— becky has had the oxford—astrazeneca vaccine. those are the things that are worth taking note of them getting a medical opinion as soon as possible if you have any of those symptoms. thank ou. and have any of those symptoms. thank you. and following _ have any of those symptoms. thank you. and following on _ have any of

robin hood itself is in trouble. "new york times" a says it's looking for a billion dollars worth of extra capital. okay. i think they will get it. i think they haven't already. here's the debate, should robin hood restrict trading? many investors are mad as hell and some are filing lawsuits. facebook has taken down the popular robin hood stock trader site and seems to me that's censorship. should politicians intervene? maxine waters wants hearings, far left congressman once a stock trading packs, let it-- never let a good crisis go to waste. there's also the question of contagion, that is spreading volatility to the rest of the market, spreading the unease. here's the state of play with a half-hour to go before the opening bell. the dow jones will be lower, s&p down about 16 and the nasdaq up about 68 points. that will change as we get closer to the opening bell. remember this, earnings reports are coming in a strong. the economy is growing, the pandemic caseload is coming down, but gamestop, robin hood in this onli

and robin hood hadn't announced any plans yet to expand their point. all right, so this market is primed for these new competitors to stuff and especially if they can stay, she'll tell appetite and not screw up, like robin hood did by going down, drink pete volatility. i mean, that's when everybody wants to trade. so both who to and tiger brokers are now increasingly focus on market outside of mainland china due to the tightening capital flow control. so both acts are speaking to attract customers with in the social network. that's very similar to each whirl where users can flop trading ideas and watch each other's traits. and like again of what we've been saying. although these up are great and easy to use, beautiful interfaces. the same problem still remains as these are centralized platforms, which means that users are not in control the fun and they don't on their own private keys. so while this is great for math market adoption, it, people should still look to something like minimum for example, which performs the same task, but also gives users o

here's an add from robin hood that ran -- ed from robin hood that ran last month. >> remember when greed was good, when you had to look the part, when you had to pay for a seat at the table? we set out to change it the way the system works, to put the power in everyone's hands, to make it feel, speak, sound and look just like you. we all invest every day in ourselves, our communities, our future. we are all investors. >> tucker: ha-ha. it's so fun to watch that stuff after the fact. that ran a month ago! we set out to change the way the system works, says robin hood. well, that's for sure. in fact, that's literally true. robin hood changed the system at precisely the moment when people from outside the system started benefiting from the system. sorry, trolls, no trading for you. we're lockerring your account. other platforms took effectively the same position but pretended more than robin hood did. they justified changing the rules by attacking the very people they were hurting by changing the rules. the communication service discord, for example, banned users from the wall street bets g

spotlight the day when independent investors expose that wall street manipulation and why it seems robin hood has decided to get more active in politics and the cancer culture is obvious here in america but now it is spreading around the world with countries now becoming angry at the u.s. for allowing this strategy to infiltrate their borders we will have a live report from one from the streets of one of those countries which also happens to be one of our closest allies and while the impeachment hearings are done the troops and barbed wire remain but at least those are tangible and visual symbols of the political battle america is currently in the. today's a 360 view we're going to talk about the deep cuts made to the political fabric of a both parties and discuss what both parties gained or lost in the debate well that's besides their dignity i'm sorry no hughes and a you're watching a new movie is used on our team america. did you hear a sigh of relief on saturday when the senate concluded the 2nd impeachment hearing of donald trump will make no mistake that's i did not come from here

a more obvious exposure of how the market can be manipulated than the events of a january 28th when robin hood restricted buying on 13 stocks as members were on a buying frenzy fueled by another group of members of a red as a wall street bets for now for those of you still unfamiliar with robin hood it is billed as a trading platform on being transparent and giving power to individual traders rather than those large hedge funds and firms when our robin hood c.e.o. of lattimer tentative is saying his company they didn't do anything wrong when they blocked purchases of a certain stocks this is in order to meet deposit requirements from clearinghouse registered with the security and exchange commission but is violence reason pass the truth or is it just damage control joining us now is rebecca wiser of a wall for wealth management thank you so much for joining us rebecca thank you and we've got a ok so we're almost 2 weeks since this initial event is kind of i think surprised everybody but it's specially those on wall street it's been a very strong message to them the story says it has been

hood. -- robin hood foundation. he is stepping down and likely to run for governor of maryland. he is someone who will clearly make a mark in this world, and he has already done so. welcome to our show. wes: it is so good to be with you, as always, david. thank you. david: tell people what the robin hood foundation is. some people think of robin hood as stock trading, but that is not what you do, right? wes: that is not what we do. it was amazing, during the whole gamestop episode, people were blowing up my inbox, saying, unblock my trades. i said, i have no idea, but i wish you luck with that. [laughter] but the robin hood foundation is a 32-year-old organization with an exclusive goal of ending poverty. it was started by paul tudor jones and a collection of other people in the investment business. and they started this foundation we want to take metrics and best saying practices and invest in , the organization we think has the highest probability of being able to end the scourge of poverty. and they started off m

investment firms get market data, they give robin hood cash and robin hood is able to give individual investors free trade. the debate was back into the spotlight when robin hood restricted its customers from buying more gamestop shares. it angered many. these are dirty, dirty people. it angered many. these are dirty, dirty maple-— dirty people. it also led to accusations _ dirty people. it also led to accusations that _ dirty people. it also led to accusations that robin - dirty people. it also led to l accusations that robin hood dirty people. it also led to - accusations that robin hood put the interests of citadel ahead of its users, judges that both robin hood and citadel deny. but the damage is done. the listing legacy may well be small scrutiny if not an outright ban on this financial practice. michelle fleury, bbc news. joining me now is amanda cooper, markets editor, insider. thank you forjoining us. what is this hearing likely to achieve here? are we looking at fines? i achieve here? are we looking at fines? ~ achieve here? are we looking at fines? ~ ., , fines? i think t

from hedge fund managers to the chief executives of reddit and to robin hoyt u.s. lawmakers grilled the parties involved in game stops recent wild drives trading spectacle also coming up commodity prices. is this super cycle we talk to an analyst and the aviation sector is facing 2 major challenges the pandemic and climate change we'll show you how innovations in biofuel could make aviation more sustainable. welcome to do that the business i want to johnsonville end good to have you with us in the united states the c.e.o.'s of reddit and robin hood as well as some big name hedge fund managers have been facing a grilling from lawmakers over the recent wilde's trade in game stop. game stop stock in the companies surged 1600 percent in general before plummeting again all the volatility was driven by small scale retail investors getting together on online platforms reddit and robinhood to target shares professional investors were betting against until the online broker put a stop to the buying frenzy. retail investors took to the streets in january they would have kept

the surge in trading drove game stop value up by more than $10000000000.00 on wednesday alone robin hood has temporarily imposed restrictions on buying the stock we absolutely did not do this at the direction of the market maker or hedge fund or anyone we were out to or other market participants so we're really unprecedented. in order to protect the firm and protect our customers we had a few limited buying in these stocks investors are angry that robin hood also blocked trades in companies such as amc black berry and nokia which were rising because of the chat group you know when the big man when the quote unquote suits don't get their way they start losing they just shut down the game and change the rules i think it's extremely unfair and this he's put in place to protect the little man from things like this happening so hopefully you know regulators and politicians are taking a strong look at this and they get down to the bottom of it well u.s. politicians and regulators are taking notice republican ted cruz tweeted support for democrat alexandria ocasio cortez's call for an investiga

i mean that can change the entire landscape for robin hood. most of the earnings, most of the revenue shows the site it coming from 2 major business areas. number one is auctions, trading, which is completely synthetic and trading. and secondly, crypto. we know that these 2 areas are going to the immense regulatory pressure in the common courses. same thing, and this is just maybe for view as as familiar with with robin hood. do you think they are succeeding in that stated aim of democratizing finance? it kind of reminds me of google and it's early years where the phrase was, don't be eco, and some would say that they are maybe not living up to that anymore. what about democratizing finance? i think they have done that quite well. because now every single person on the street can really get access to it company very easily without having a big set of fair walls to climb through. in order to to have that. remember back in days, the mini mom accountable me requirement is about $25000.00 to do to if you want to come the day trade. in addition to

>> all right, robin. let's turn it around here and go to a businessman with a heart of gold. he is a houston legend. he's warming up houston -- helping everybody stuck in the bitter cold. jim mackenville, aka mattress mack is coming to rescue texans once again turning his furniture store into temporary shelters just like he did during hurricane harvey. he said the need to tremendous and anyone can drop in for two hours or two days, they have free food and blankets. his 10-year-old granddaughter is helping him. he says, quote, i'm trying to teach her that the essence of living is giving. that's what we do. he is more than generous all the time. >> he lives it. >> he is the real deal. >> he is the real deal. >> he has the best commercials in houston for his furniture store. great job. >>> we have a lot more coming up on "gma" including ashley judd. she is revealing the harrowing details of her 55-hour rescue after she shattered her leg in the rain forest. >>> also, new body cam video showing an 18-year-old

robin: absolutely, thank you. yes, almost 16, hope for the warriors was founded here aboard camp lejeune. i happen to be here today for a very exciting moment in our history as part of the mental health clinic here in jacksonville. 16 years ago, however, there weren't the kind of resources we're seeing now and the kind of momentum we just heard from the secretary and from comcast. so it was really military families really coming together to recognize the needs and the challenges we were having, to talk about them, to be a voice for each other, and to do the actual work. i can say i did not aspire to be the c.e.o. of a nonprofit organization, but i did aspire to take care of military families the way that i had promised when i was married into the military and as a daughter of two soldiers, i lived that life myself. so throughout the last 16 years, we have met our service members and their families where they're at, and it isn't always easy. there are remote locations when they go back home. there are communities t

robin hood is still the number one top three app. kate >> robin hood once again reducing the amount of securities that customers can buy on the platform. this morning they reopened trading of names like gamestop they are reducing the amounts of shares from five shares from a list -- amc, gamestop, koss, bed bath & beyond, and american alliance they just updated that blog post to update customers here they did open that up again today. jon, back to you you did say amc? >> yes, that's right >> we had amd up on the screen i wanted folks to make sure it's amc, one of those stocks heavily shorted. >> yes >> robin hood traders were piling into. it makes one wonder, lindsey, especially after the mea culpa we heard from robin hood's ceo lost night, talking about opening up trading, we wondered if they were going to mend fences how will the robin hood traders take this? >> i think any trader stuck in this situation will be frustrated, but at the same time some of these smaller brokerages is where we're seeing a lot of customers want to go to

and he visited robin. there was a talk about the great, a lot of the sweetest man ever and bob, i think he and bob were bestier robin williams or bob got bobcat goal 3 right after this on dennis miller plus one. ah. join me every thursday on the alex silent. sure. but i'll be speaking to guess in the world of politics, sport, business, i'm show business. i'll see you then. mm. a folks welcome back to dennis miller plus one. always enjoy talking to a fellow comedian because i i know the interview will go well because we have some sort of 20 to 32nd switch that goes off where we say make it interesting. it's like when you 1st do, letterman book he says, have 2 stories and make them funny. we're doing chauvinists there. and i just saw i used to like that framing device, right? yeah. what are we doing here? what is the make it funny? the new film is a road trip documentary called joy ride released. as i said, v o d on october 29th. if you did that, you were there with that look, cause i always look at that ope

by one name, denzel. >> you're known by one name now, robin, robin. >> i want to say two name, john david, your son. he agrees with that title that you have and he is following in your footsteps. i know how proud you are of him and having this family support, what does it mean to you? >> i'm a dad so i'll keep saying it. olivia washington is a great young actress, very, very, very good young actress so she's coming for her brother. i mean it's a team sport now. my wife was a child prodigy, concert pianist, competitor and singer and actress. my daughter is a producer, produced "malcolm & marie" and others. my baby boy malcolm is a director and a producer and who did i -- did i leave somebody out? and me. and me. i'm number one. in my house i'm number five. >> you remind me so much of my mother and father, because when people would try and praise me, they would list off all the other siblings that i have and rightfully so and talking about them. but i do have to go back to john david just for a moment because he's going to be here on "gma" on monday. >> okay. >> so is there something

well, in the movie i do with robin, the world's greatest dad. there's a scene where robin's walking down the hallway and he's hearing his he wrote a fake, his son dies the long story. i don't whether it's sundays during auto erotic fixation . robin wright, the suicide letter trying to make this kid seem like he was smart and sweet and he was a horrible child. he's being haunted by his son. he's hearing the fake suicide note . he wrote, he's walking down the hallway and, and i go and, and kyle appears in the, in the, in the library window as you walk along. he's actually, he's, he's, he's saying along with his i so how you doing as i like it, that a computer is out of c g, i go know he's going to stand behind the camera. i'm going to turn this light on and then it will show up in the with turned it off. but it will that work, i guess maybe she would win for plates, but i go to work. where did you get that idea? i go for the haunted mansion because i think there was like, i think you can't make are in a mansion, was that you have to sell my house.

the robin hood endowment is essentially zero. every dollar we get in, it will go out within the next calendar year, so on january 1, it is like preston cope again. -- press go again. we race and get the money out as quickly as possible. david: who pays all the administrative costs? that can be 5% to 10%. wes: if not more. the other unique mechanism of our model is that our board covers operational expenses. david: covid must have made it difficult to raise money and run the foundation remotely, so how did you do that? wes: covid in this past year was remarkable. there was a lot of uncertainty about what does that mean in terms of how we continue to move at a fast pace. how do we consider the fact we knew how damaging this was going to be on our communities. we saw 11 years of job growth go away in 11 weeks. we knew which communities would be hit hardest by that. and so, but i am so proud of the way we responded and rebounded. we activated the relief fund, for only the third time in the history of the organization. once was after

first off, you have a take on this gamestop robin hood controversy. does the administration or do you think the administration or the sec or cftc whatever it is should start to poke around? >> first of all i'm trying to digest the idea of being a kid it's been a long time. thank you, sully when i was a cnbc commentator i would bite off a question like this and chew it up and throw it back at you. now i'm part of a big team and the key point of your question for me is sec. security and exchange commission it is their job not mine to comment on market movements especially daily especially individual stocks. the s.e.c. is on the case. and they'll be reporting in -- in fact they've already released a statement on this which i commend to viewers i think the important thing from our perspective is that the biden administration is looking past day-to-day, week-to-week, month-to-month ups and downs in the stock market it is not a score card for us. and while lots of growth has occurred at the top of the k-shaped recovery if you will we still have very signifi

and in other news, robin hood is facing everything from federal, fine to criticism and read it as it files you go public. we'll discuss how all the pressures fans impact the popular app moving forward. and later trade between the you can, you is picking up the fight post wreck, the concert. we'll go over the numbers and see whether the trend will laugh. we have a tax, so today. so let's dive right in we leave the program with by dance, the company behind social media giant tick tock, shelving its plans for an ip mid scrutiny in china. beijing based social media giant last valued at $180000000000.00 in a funding ground in december, had been weighing an initial public offering of all or some of his businesses in the us or hong kong. instead, the companies found or decided that it would be better to wait. joining us out, discuss harpooned by co host, spend swan. christy. i ben, i'm going to start with a big question. why is bite dance, making this move to pull back these plans? yeah, i think there's a couple of big reason for the biggest is that china has this regulator that's essential