tv Tech Check CNBC April 22, 2021 11:00am-12:01pm EDT
show, of course, as a contestant great. thankfully love that prep's a lot more difficult. a lot more every question you got to be ableto read it appropriately and -- every second of that game got to be focused for. >> looking forward to that. that does it for "squawk on the street." "techcheck" starts right now. ♪ good thursday morning. welcome to "techcheck. i'm carl quintanilla with jon fortt and deirdre bosa big show today big tech versus small. app makers say they are afraid of the power of google and apple in front of congress we'll discuss the fear index of the valley. plus, feud delivery. two rival ceos going at it on twitter. we booked one to come on an
explain. and sony massive deal with disney weeks after blockbuster deal with netflix. and on the arms race content coming up on "techcheck" in a few minutes. and stocks, dow lower. nasdaq higher. at&t booming on better than expected earnings. a big move for that stock. semi-s moving lower. >> and we are all afraid what one appmaker told congress yesterday. in concern ap the power apple and google have over their businesses as big tech continues to spend money close to $5 million spent on lobbying in q1 of this year alone. plus, lena kahn on the hill yesterday for an ftc confirmation hearing known as a tech critic
the biden administration moving away from consumer harm when it comes to antitrust regulation, deirdre, and that, to me, is the issue. if the u.s. moves to more of a european-style approach to antitrust regulation, where it's more about competition, less about consumer harm, does that result in more of a european-style tech ecosystem? which investors i think would agree would not be a good thing? >> right that sort of makes investors wake up and take the regulations seriously. seen indications could be moving there. progress very slow, carl the key question, i think anti-trust regulators will have to think about, are these companies, the spotifies, are they successful because of the app store ecosystem, which their commissions helped pay for, or successful despite it? it's probably somewhere in the middle. >> yeah. amy klobuchar, john, chairs the
antitrust panel judiciary said yesterday capitalism is about competition. about new competitor emerging and this situation, to me, she says, doesn't seem like that's happening when you have two companies, meaning apple and google, really dominating in respective spaces. >> that is where we will start with editor-in-chief of "the verge" and cnbc contributor. i know it's popular to beat up on the big guys here, and certainly some of the details we've heard out of this, apple and google haven't always acquitted themselves well when it comes to at least appearance of fair treatment here but isn't it a risk of killing the golden goose if they buckle down too hard on regulation here >> i think there is, but also i don't think there's risk of killing consumer demand for great apps and services. the question is whether you're going to slow down the overall vibrancy of the industry, and you're going to slow down how it's growing, but you're
definitely not going to slow down people wanting to use their phones for more and more things. i think the key question is, as i watched the hearing yesterday and read all coverage afterwards is, apple really thinks of the iphone as their phone. they think that all of the commerce that's transacted in their store and in apps on the phone accrue, should accrue to them and they should get benefit of it because they made the phone. that is a totally fair position. i think appmakers and a lot of user advocates say, no it's actually your phone once you pay apple the money for the phone, you should be allowed to do a bunch of things on it without apple getting in the way. i think fundamentally that question is one that apple's not going to bend on because of market pressure. it's a question apple's going to bend on because the government makes them bend on it. i watched that hearing in a very bipartisan way the committee was, like, you should probably bend on this, because all of these companies, vibrant, great americans companies, are kind of afraid of you. >> right
but these are mid-sized companies. right? they've grown pretty large, and you contrast that with some small businesses who really appreciate that apple ecosystem, see it as a badge of honor once they make it in, and then the whole question of consumers. right? what do consumers actually want? i said before i appreciate the ecosystem, my payment all in one place. where are the antitrust regulators going to lands on this focusing on consumers or the midsized companies that say they're afraid of the companies? >> i think both. jon brought up the consumer welfare standard lena kahn is a huge proponent of changing that standard at the ftc not going to change that standard. congress has to change that standard i think what you're going to see is congress moving forward, changing a consumer welfare standard so there are more focused on a competition and then in the new generation of regulators, like lena kahn, like tim wu, coming in saying, are these markets actually competitive? and are the steps that have been
taken in europe effective? right? we don't think they are. browser ballots on microsoft windows in europe have not led to a proliferation of browser. not even anandroid. we don't think they work but there's a bunch of other things you can try and you can start by saying, look if there was competition for distribution, which is what app sources fundamentally are, competition for distribution, maybe rates would be lower and apple wouldn't get away with saying we keep users safe while you can still find explicit scan apps all over that store without trying very hard. >> yeah. your point reminds me of this piece matthew ball has written about the future internet and the ongoing evolution of the broad ecosystem and points out that apple, no company's done more than them to make the internet what it is over the
past 15 years, but also calls them the biggest inhibitor to the next chapter, because of the tolls, the controls, and the technologies of theirs that deny what gets made and that makes the open web so powerful i wonder do you think that's fair >> i do think that's fair. one of my favorite phrases of the web 2.0 era is from alexis o'hannan, you don't have to ask for permission to build a website, service or a great internet company go out and do it, succeed or fail some succeeded, some failed. but apple, you might not need permission right away, but there will come a point apple looks at your business and says, no we want that one happened with podcast a couple days ago you want to launch a podcast, do it through apple, and customers pay apple a 30% cut. you will have to give that cut away you want to distribute or pay podcast through spotify, you have to charge a higher price,
because spotify will also have to pay that 30% cut to apple is that fair is that -- does any value accrue to spotify or a podcaster or podcast listener by giving that money to apple in that instance or is it free market probably the answer is apple and spotify should more freely compete for that margin, for that distribution power for ultimately users and listeners but there's no pressure on apple to deal with it in a market context. it has to come legislatively. >> and speaking of legislative, we want to bring in our eamon javers with us on something that we mentioned earlier, which is the lobbying dollars that big tech is spending in washington eamon what do make of these? >> reporter: yeah, jon look you showed numbers earlier this is like that scene in a "gladiator" movie, the warriors putting on armor lacing up boots, sharpening swords they're getting geared up and
ready to go for what is expected to be a big year these are big numbers for these companies. they're not as big as we've seen in other sectors, but still looking at large spends in lobbying what you'll see here is the tech guys will adopt a strategy that we've seen in other industries historically in washington the standard play here is to cooperate and co-opt whatever is going on in washington so once you conclude that the train is leaving the station here to mix all of my metaphors up horriblehorribly, you decide, happening anyway, get on board or proponents of it and steer it a little in the direction we want and maybe steer it a lot in the direction we want to go. historically how industry approached these things in washington resist, resist, resist, terrible idea, terrible idea. a moment of revelation and say we agree about time for reform. here are ten bullet points how to do the reform sort of what you're see shaking out in washington over 2021.
>> eamon, appreciate the metaphor followed it. not with ussish against it might as well get onboard. and pose this question to you -- >> like "glade yators" and a buh of other things. >> it worked and working on regulation a bill in arizona that could impact app sales stores with a landmark victory, but then sort of went away, and apple and google spent huge amounts of money in lobbying efforts is that another example of lobbying being successful and getting things to go the other way for them >> i think apple and google dumping a bunch of money in state legislatures feels more effective than doing it at the federal level where there's a lot more attention and heat, and you have bipartisan support in the congress and you have a lot
of ability to make noise how evil big tech is i think the strategy of that legislation in the states, the strategy of lawmakers, go out and put piecemeal pressure on regulation so that companies are forced to say we would prefer federal legislation so the rules are the same across the entire marketing in the united states then come to the table in washington and you can say it's co-opt i prefer microsoft term embrace and extinguish embrace, extend, extinguish where they come to the table and write to write their own neds. you already see microsoft involved in regulation you already see the companies say, we would love regulation. facebook is doing it i think there's a huge push at the state level from the smaller appmakers to get the companies to the table at the federal level, and at that level i think that's where the fight's going to be and the big companies are going to try to be very active in drafting and tearing out
legislations to their means. >> hmm going to be fascinating to watch. thanks to both of you for kicking off the hour appreciate it very much. it brings us to this morning's ek"crowdsource." amazon leading the pack. facebook not far behind. between all of these, which of these companies are you most wary of? tweet your ideas a qr code bottom left of the screen goes to our twitter page. get some responses end of the show. maybe it's none of them. coming up next, the ceos of uber and just eat mixing it up on twitter. the outspoken ceo of just eat joins us in a moment we're just getting started here on "techcheck."
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spending about $1 billion on environmental causes by 2028 stock close to doubling over the course of the year, deirdre. >> meanwhile, jon, delivery wars continue to heat up. this time two rival ceos taking to twitter as they prepare to enter each other's markets just east ceo accusing uber's ceo of depressing just eats share praise announcing new plans to expand in germany hitting back telling him to focus on the business instead of short-term stock moves and swinging back attacking uber's tax and labor practices that rare public company ceo versus ceo on twitter that we have come to love. joining us now is the man himself. the always outspoken ceo good morning and thank you for being with us. what did darrah khosrowshahi do exactly to try to depress shares and what were you referring to
suggesting you've seen it before >> seen this puts. here we are, companies, what, 100 billion u.s. dollars, the worth, and completely obsessed with us. constantly talking about us. put us, i think, in that interview, mentioned us about ten times. you know at some point doesn't make sense anymore. they need to start focusing on themselves and not on us therefore, i said, you know, want to do something for us, talking about us rather than your own expansion the nature of my tweet i meant no harm with it. >> okay. and labor issues came up in that twitter spat and i doesed dara just a last week, pointing to your op-ed of a few months ago he said a line we've heard from uber many times. doing so would take away the flexibility of their drivers and their drivers want flexibility
is that true you have made a group of your drivers employees? >> it's a false contradiction. just to explain this to you, i used to founder of takeaway, founded by business 22 years ache and also got upset by dara, in the business 22 years, started your business with 50 euros you're probably not so much focused on short-term results of the share price i think importance here is takeaway always employed its couriers we started to do that in 2016 and what we have expanded to we do that in holland, in germany. in austria in quite a number of countries across europe. we merged last year. i'm still ceo of that combination and started doing it in the other countries for instance, doing it in the uk we're not looking at a
combination with the australian government to also do that in australia and taking these countries one by one to see whether we can improve conditions for the workers. and i'm talking about a false contradiction between the two, because, you know, if you ask a person, would you like flexibility? who would say no to that right? you get a pretty realistic result, about 90% of people like flexibility, but why would people that like flexibility not like health insurance? that doesn't make any sense. >> so to be clear, your employees, you chili have full employees also have flexibility while being the delivery drivers? >> yeah. you can have zero contracts, four-hour contracts. you can have few em momemployme. it's more expensive, of course, to pay taxes and social security it's probably the reason in a a lot of people don't to that.
but flexibility is also there. >> and isn't dara doing you a favor talking about this tuckaway i don't know about depressing your stock price seems to do what it does we're talking to you and thinking food delivery in germany. not something we normally talk about. i mean, i don't know maybe he should talk about you more often why is that a problem? >> i never said it was a problem. i was surprised dara sent me a tweet and i responded to the tweet and give him advice about how to run my business and i gave him advice back the only thing that's happened it was rather public i admit that. >> when it comes to the business we've seen in the u.s. quite a few delivery companies, doordash comes to mind, bet quite a boost off of the needs of the customer during the pandemic. when we look at your stock price, how do we see that play out? how has it affected your
operations and to what degree does opening up change the outlook for you? >> well, we almost doubled in size so we also saw quite some -- some tailwind from the pandemic, but what was also important to us was that we merged our companies. right? realistically, if you look at takeaway, the company i was running back in march last year, now five times the size. add them up, almost double double the size. we have invested heavily in the last year. invested in running out a big logistical network invested in price leadership across the country wuther australia, canada or the uk. so we did not only add them. pandemic didn't fall away. we have a split business model on one hand restaurants deliver foods. other hand, a very sizable business, we have a logistical business in direct competition to other players such as the one you just mentioned that's logistical business, it is going
to be hit by end of pandemic, because people will go to restaurants. you know try to ask them, they're going to restaurants after the pandemic subsides. however, that's the strongest growing part of our company. in our case, take the uk, we have a 700% growth say goes to 500% still a hefty growth for us. we're comfortable that we're going to be fine and reset acceleratorship. >> right digging into that business model a little some investors worry that taking on an employee model would push profitability for food delivery companies further out. as you just said, making some of your couriers employees is more expensive, yet when i look at the balance sheet of yours versus ubers versus doordash, takeaway has achieve an ebitda positivity over the past two years and yours lost a fraction of uber's. help me understand
is this operating in a different market in europe, or different calculations how are you able to achieve adjusted end ta when uber says it's farther out and they make their drivers employees? >> i think it's important to look at, you know, the country in which you operate and the model that you use look at the most important countries in europe for delivery, you're looking at holland, germany and the uk. those are by far the most important countries in the sector all the other countries are not, and we are market leader in majority of europe but those three countries are important. why are they pont? actually in those countries you have a huge marketplace business which is mostly with us. and on top of that a logistical business the difference with canada and which also -- and the u.s., is that's could canadians and americans, just paying more for food delivery than germany a profitability on the logistics
seems complicated, that's where we compete with our competition. marketplace, actually, is very profitable look at the most profitable food delivery on earth, german, dutch, canadian and u.s. business we are in a healthy situation. enormous budgets, sponsoring 2020, champions league, all that fantastic vantage point and just expanding our business so opposed to companies that never created profits anywhere. >> well i will be interested to see what kind of model what strategy you take when you do enter the u.s. market through your grubhub acquisition out of time. i hope you come back on and discuss that with us thank you. >> i will. thank you. >> thank you for chatting with us from eat takeaway. thank you. carl, we should mention, did reach out to uber. they had no comment. still ahead this morning,
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pre-covid ledvels shares of at&t are up. confident about prospects for hbo and streaming wars saying the glory days are still ahead of us. so this west and american airlines selling more tickets and plan to add more prices spring and summer as more are vaccinated excluding one-time items reporting a loss first quarter. and study 332,000 work others finds interest in working from home will boost u.s. productivity by 5% mostly due to time savings from not commuting. back to you, jon. >> rahel, thank you. sony pictures inking a major deal with disney yesterday on the heels of a big deal with netflix. julia, i guess not every content company needs to build out its own streaming service? >> i think that's right, jon seeing sony take a very different direction here i'm told that these deals with netflix and disney, that sony
could, could bring sony as much as $3 billion in revenues over the next five years. though the company is not commenting on that number. joining us now to comment on the strategy behind it is the ceo of sony pictures tony vinciquerra tony, thanks so much for coming to talk to us today on the heels of this big news this, netflix deal, the disney deal what do these say about your strategic future especially at a time when you have so many of these other companies pushing forward with their own streaming services >> yeah. julia, you and i talked about this i think a number of times, that we sort set a strategy three, four and a half years ago to be the switzerland of programmers where we'll sell to everyone our creators are excited about that, and the "seinfeld" deal with did last year, the netflix deal and disney deal are evidence that the strategy is absolutely working. >> so i want to understand a little more about this netflix
deal, because in addition to your theatrical distribution, totally separate from either of these streaming deals, a deal with netflix, allowing them to buy some of your films for streaming. how does that fit into the your strategy putting films in theaters and delay before available at home? >> you know, this does not affect the number or the quality of the films we'll put in theaters still going to do 15 to 20 films per year that go into theaters, and very, very excited about the pattern now taking place where people are excited to go back to theaters the deal with netflix, we have tremendous capacity, and it was not economical to put more films into theaters. now we have another outlet it's an additional business line for us, and we're very excited about it. >> as we are talking about theaters, i have to jump in before we get on to more netflix and disney in this conversation to your strategy about the
theatrical distribution. seems pretty much every other theater decided to shorten the window hbo max releasing films in theaters and hbo max same time, or disney offering films for $30 against subscribers. are you planning to shorten that window in any way? >> look, shorter windows will benefit everyone, we think, and we'll negotiate those with individual exhibitors but the deals just concluded represent the traditional window strategy, but, look. i think it's pretty clear windows are being negotiated everywhere and evolving as we speak. >> well, so that sounds like a maybe more to come, to that answer there i want to get your thoughts on the relationship with disney for viewers who are not familiar you own the rights to some of the marvel characters including spider-man, very valuable but disney not so great in the past.
what does the deal say about what we can expect about the sort of general collaboration between the two studios going forward? >> i think the relationship between our two companies is terrific we had a little squabble a couple years ago over the potential of spider-man remaining in the avengers and vice versa, avengesers coming to spider-man we settled that and otherwise our relationship is terrific and looking forward to being in a closer relationship with disney going forward. they're the a great company, we're a very good company -- >> i -- sounds like we're going to have, opportunity to see those spider-man movies on disney plus at points in the future tony, very exciting time for the company, as it makes these deals with netflix and disney and certainly for the industry as a whole with so much transformation thanks so much for joining us today, and deirdre, back over to you. >> thanks, julia and julia, viewers will get
a bonus hour of "techcheck" at 7:00 p.m. eastern. that's 4:00 p.m. pacific, where we are, and i am, stoked for this, julia. you are organized and incredible lineup of guests, and, really, no one better than you, at the intersection of entertainment and tech >> deirdre, i'm so excited for this hour tonight and so glad you'll join me talking to so many fascinating thought leaders across film, streaming, and movies. we're going to talk to founder of alamo draft house, a cult favorite in the movie theater space. kevin mare, head of hbo max talking about growth and students there franklin leonard from "the blac blacklist" democratizing to hollywood and "hello sunshine" coo talking how that studio is creating content for and by women, of course, reese witherspoon's company. a great lineup if you care about the future of
content distribution, media, go the to tune in tonight at 7:00 p.m. eastern, 4:00 pacific guys >> ka not wait, julia. guys, sounds amazing especially ahead of oscar night sunday. when we come back we'll hear from the head of facebook. strong words about apple's planned privacy changes. and keep your eye on alphabet today up 30% on the year they say a favorable setup going into earnings next week we're back in a minute. cane ha. the water was like a river. - when you talk about nasdaq, people don't think about insurance or catastrophe risk but that's a product they offer. we have 12 companies that build these models. for example, we have fathom. they are experts in building flood catastrophe models and we get it through our nasdaq platform. so insurers would be able to provide the right guidance
to janice and people like her project forwards the risk and actually use that to advise the policy holder where they buy their house or where they buy their next commercial property. - now we have this predictive flood modeling that we can go to and find out if it's gonna flood there or not. and if it's not, then guess what? we get to sleep easier. we get to go on a vacation. we get to grow. - [narrator] grubhub perks give you deals we on all the food thation. makes you boogie. (upbeat music) get the food you love with perks from- - [crowd] grubhub.
facebook not holding back ahead of next week's update of apple's operating system the app tracking transparency feature goes into effect and limit ad targeting capabilities. head of facebook app telling me the update, she says, has nothing to do with privacy but ral increasing apple's profits. >> i think this has very little to do with trusting facebook with their data. i think this move by apple is a really transparent move to move the industry away from a free and open internet to an internet where app developers are going to be required to charge for content so that apple can take a certain percent subscription, sales percent prescription and make advertising a lot worse so i think it's very transparent
move by apple to increase their profits and really not at all about privacy. i wish it was about privacy, because i think there is a very important debate to be had about privacy around advertising. >> certainly, carl, much more to come on this story, which we've covered closely. apple would say they're simply giving users the choice. jon? >> yeah. and facebook attacking apple over privacy in a free and open internet wow. okay 2021 coming at us fast. still to come, steve aoki, one of the most famous deejays in the world joins us next. and for all the big calls on the street, grab the cnbc pro. cnbc.com/pro we'll be right back.
new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. nfts you know have taken on the art and investing world by storm names ranging from jack dorsey to patrick mahomes hopping on the trend joining us this morning on the heels of his newest nft release what you see on the screen now legendary deejay steve aoki alongside creative partner tom villeio also founded quest nutrition, by the way. gentlemen, welcome and congratulations. great to see you. >> thank you thanks for having us. >> thanks for having us. >> steve, i mean, you've been a visionary in so many mediums
i wonder what caught your eye about this new space what do you have planned and how big do you think it can get? >> we're at the start for sure i really do feel that we're early in the space, but the space is going to grow to be something that we're all going to use as a means of collecting art and collecting valuable things in the future i'm a big believer that this is inevitable that we're always -- we're going to be a part of an nft culture, or the cu culture's gop to be nt i already had a collection out a couple months ago did really well exciting about this one, the artists we work with bringing in anime culture, science fiction this concept neon future that we built on to a comic book series and now the next adaptation is
nft collection, and share that with the world. >> that's fascinating. tom, i want to get your take, too, on where you see the market going, and, really, who you think the target audience is in these early days who are you trying to reach? >> ultimately trying to reach collectors more than investors, but we're very aware that right now the investing scene is really where it's popping um we're focused on long-term value. making sure what we do goes up in value which is a big deal to this community, and wanting to really bing true art like, there's nothing for me there's nothing more exciting visually than digital art. to see it finally come into a space where artists can truly dedicate their lives to it and actually make a living, that, we think of it sort of twofold. both for the artists and the collectors. >> steve, more than 8 million followers on twitter, nearly 9 million on instagram
i'm curious with the whole direct to consumer push, the management of your brand, how is this weird year in the pandemic kind of changed your thinking or changed your focus, if at all? >> there's no doubt that if i was not in a pandemic i wouldn't have gotten so deep into all of these different areas, outside of music like, in the middle, summer of 2020 is when i got my first, i started getting my feet wet with nfts started getting my feet wet with collectibles i got really heavy into sports cards and into pokemon cards and into day trading, and -- there's just, i wouldn't have the time to be able to invest as much as i did. if it wasn't for being stuck at home and i think a lot of us were in the same position where we will to reset our lives, and stop the busy trains that we're all in to do other things, and it's allowed me to see so many
different things that i wanted to get involved in, and grow in these worlds so i'm -- the silver lining is i've just been able to do other things in my life that bring me so much love and passion, and new communities and new you know, new worlds that -- that inspire me and allow me to be creative so i've been really excited about what has come forth from this being stuck at home period of time, and figuring out how to be able to bring that back into my life as we get back to, you know, what this new normal will look like. doing shows in front of people that what will be like because i'm a collector. there's no doubt about it. and how i can still collect and how i can still be a part of that space and still be creative and still be able to, you know, put on the shows and do performances around the world. >> right. and increasingly we see artists
and athletes on both sides of this trade much has been made about the empowerment and additional revenue that nfts can bring to artists and musicians. at the same time we've seen a lot of commercial hype around arguably less valuable tokens. taco bell had one. even charmin toilet paper had one. direct this question to you, tom. do those kind of tokens perch that broader nft mission or help by bringing it more into the mainstream >> they -- look, there's no question that there is some clumsy projects being done, but they really do bring awareness to the space, and you cannot be afraid to make mistakes, embarrass yourself we're really doing something pioneering right now and getting more people excited to be a pioneer. go out and risk. you may fumble you know, some of the bigger companies they were risk fumbling and, okay, that didn't go anywhere. long as they protect their reputation by being good to the people that took a chance on
them they're going to come out of this fine that's how steve and i are thinking of this is, if we protect the long-term value of the people that have invested in the art that we're creating, we're going to be here for a long time. we come in and cash grab, then a problem. even some of the people that are doing cash grabs, at least they're bringing attention and awareness to what steve said what is so clearly the future. this is a one-way street we're not going backwards. so getting more people to adopt this quickly will ultimately be, i think, better for everybody. >> steve, you mentioned live shows a minute ago what happens to live shows when you're doing those again does the technology change, though the ability to buy stuff dump italy? neighbor even buy stuff with crypt other currency kip cryptocurrency, charge for the shows? thinking about all of that stuff? >> absolutely. i mean, like, the technology that's been developed during
this pandemic has shot -- been exponential as far as making experiences for people that are stuck at home. like, what you do to make that experience better. i mean, we had no choice we had to make that technology better. and now when shows are going to be back, we have that technology to actually be able to expand our reach. because i was playing a lot of virtual shows and some of the shows were large letter as far as people watching, than my physical shows so if you combine both of those worlds moving forward, and you combine the space of nfts where, i mean, like, what tom is saying that i agree with that that it's going -- it's a one-way street we're, we're not going back. digital is the future, and i think nfts will be all prices. you know you could even mint a show mint an experience you could mint things that are
important and meaningful to certain people, and it doesn't have to be, you know, a gazillion dollars. it could be something that's more affordable. i think it's just going to be a part minting or authenticating an experience or owning something can be something for, you know, a lower level and something at the higher level it will be all levels. so i'm excited to see where that goes, what live experiences are, because life, how we experience things, how we see art, how we go about our way in life is all through, like, how we feel about the experience, and live experiences are a big part of what drives our hearts just like the way we look at art >> yeah. i think everyone knows exactly where you are going with that one. congratulations on this though we can't wait to see you back doing dates on the road, hopefully another sign that normal is coming back. thanks, guys
appreciate it. >> thanks for having us. still to come we double back on crowd source. big tech ramping up spending we will hear from you which company you are most concerned about. plus cathie wood and the art fun weighing in onhe t environmental impact of bitcoin. environmental impact of bitcoin. we will be right back. plus you'll now get netflix on us. all this for up to 50% off vs. verizon. it's all included. 2 lines of unlimited for only $70 bucks. and this r. you'll pay exactly $70 bucks total. this month and every month. only at t-mobile. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪
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decried for its high energy use, but could it be good for the environment? cathie woods, arc invest, a long-time crypto bull on bitcoin and coinbase out with a post claiming that cryptocurrency mining could drive investments in solar power and make more renewable energy available to the grid. saying, quote, a world with bitcoin is a worldthat, at ee quillby reyum, generates more electricity from renewable sources. carl. >> as we go to break, look at faang stocks in the last week, all in the red we know how much of a struggle they had of late netflix leading the way after reporting subscriber growth slowing yesterday. plus, don't miss a bonus "techcheck", 7:00 p.m. eastern online, with a star-studded line-up as we count down to the oscars on sunday go to cnbc.com, youtube, linkedin or twitter to stream it
let me break it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $800 off our latest 5g smartphones.
- [narrator] grubhub perks give you deals on all the food that makes you boogie. (upbeat music) get the food you love with perks from- - [crowd] grubhub. biology for manufacturing, startup at the intersection zymergen going public today in an ipo raising half a billion dollar, valuing the firm at more
than $3 billion. i asked the co-founder and ceo josh hoffman earlier this morning how the company's unique manufacturing approach is ready to scale now. >> we're going public now because our technology is proven, it is validated. we have product in the market. we are -- have a super exciting customer pipeline. we are able to sell in to meet the market demand as we see it you're right to talk about the scale of it. this is not a sort of proof-of-concept, we hope we only sell into ten phones. we are going now now, it will have to continue to scale and we certainly hope that we have the kind of commercial success that will mean we have to continue to add capacity, but we're ready to go. >> flexible display is one of the types of technology their their tech allows. if you want to hear more check out the qr code on the side of your screen to get the full stream, more than ten minutes to learn about the company. if you want to know more about
apple's new air tags, cnbc got our hands on a pair. we will do a demo online after the show ends in about 15 minutes. go to our twitter page we will give you a link where you can see it you can just see it there on twitter, carl. it will be fascinating to see how those are incorporated into daily life. at least that's certainly apple's hope for our crowd source, guys, we showed you big tech's lobbying spend numbers earlier in the hour and asked you which big tech name you were most wary of one viewer says amazon they would love to keep their poverty wages, is what one viewer rights. another says facebook, they're kids playing business with weak corporate responsibility another viewer comments that the government is the only true monopoly here. they lack domain expertise but are ready to smash things. dee, that will be the ongoing debate, the degree to which legislators in congress have a full grasp of the issues >> carl, that is a really good
illustration of sort of how inflamed tensions have become on both sides jon, i wonder, does the average user care about this stuff we keep asking the question here on "techcheck" and i guess it is an answer for regulators. >> no poverty wage at amazon they're starting at $15 an hour with benefits, carl. >> and if you get stock it is a totally different story. intel and snap tonight let's get to the judge ♪ ♪ all right. carl, thanks very much welcome to "t"the halftime report". i'm scott wapner front and center, the road for your money whether to be cautious or bullish on stocks. why tom lee says it is the latter we will debate his call, we will debate the markets with our investment committee joining me courtney gibson is president of luke capital markets. sarat sethi is with us josh brown rounding out our investment committee today let's go to the wall as you see, s&p and dow are negative dow and s&p are on pace to break their four-week win streak nasdaq 100 having its worst week sinc