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tv   Squawk on the Street  CNBC  December 7, 2021 9:00am-11:00am EST

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to 1.458% it continues to climb. in the meantime, that does it for us today we are being invaded by the pods and the pod people it's been happening all through the show if you don't get this, you need to tune in earlier make sure you join us tomorrow right now it's time for "squawk on the street. bye-bye. good morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber. bitcoin is back above 51k. oil near 71. markets looking past expectations for a faster taper next week. the dow coming off its best day in nine months. >> plus, intel shares, you're going to see they're surging this after the plan is taking their self-driving car public
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next year. we're going to talk to the ceo this hour. >> and americans see c-suite shuffle. american airlines ceo set to retire at what point does this start to drag investors back in >> i think at the top of the -- i think this caught a lot of people by surprise, if you go back -- rewind the tape to eight sessions ago, you thought that omicron was basically going to spread the same way that delta did. delta did set back our economy so far that's not been the case. instead what's happened is that the overreaction was so severe, both in oil and common stocks, that you have this moment where people realize, wow, we got really oversold. what can i get in? did i miss the dip i want to call out apple apple got hit by omicron and got hit by the incredible story about how the suppliers were
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calling tim cook and saying, listen, what's going on? >> you were outspoken last week in combating that story, or at least questioning the validity an and/or veracity. >> i don't like supplier stories. it's like fight club >> and also just -- >> very hard to gauge you pointed out. they could be ordering more than is typical because of the current situation. it's very hard to know really what it means and, of course, now we see apple has -- well, it's moved up strongly since then this morning. you got the price target -- >> talking about the service revenue stream remember, david talks about how the two multiples, i focus on, once again, apple went below
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procter & gamble's price multiple and you get this and one of the things that katie is talking about is a service revenue stream which is 70 billion. when you hear ar/vr, that's going to be conflated with metaverse. his team, saying we're at the peak of the metaverse love. >> what are they talking about there? what is the opportunity then that she's outlining in this -- not upgrading, but raising -- >> when you look at -- i think katie is fabulous. but it was difficult to kind of do anything other than say it's worth 29 billion in 2026 it's kind of like everyone is talking 2026 right now i wish i could do that >> she talked about autonomous vehicles, actually >> saying it's not getting any love because even though we -- >> valuation would need to
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reflect the optionality of these future opportunities is part of her thesis this morning. >> apple tv is a staple. apple tv was something i thought was an afterthought and now i find -- what's on apple tv it's up there in the conversation with netflix. >> spending a lot more money. >> the shows are pretty good >> 200 bucks is the street high. >> yes by the way, this is being done after three days where apple -- we're talking about apple as literally the blue chip. she even uses the safety choice. >> it's been an interesting end of move year for the stock it's outperformed the s&p 500. sometimes dramatically
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apple outperforms the s&p. that is interesting, given, they are linked as a $2.7 trillion company and, of course, it is a market cap-weighed index. >> she does a lot of stuff apple car is worth "y. it doesn't really matter what matters is that the company she thinks -- is going to get to 100. they actually need the money so this actually was a good idea if you break it up to this, it's not. i just think you have to say that they are able to do something with vr.
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and suddenly you have an nvidia situation -- >> the gift that keeps on giving. >> yeah. they were down yesterday and i kept thinking, okay, who -- i try to get in the minds of the sellers. this is after my conference call on thursday. are the sellers acting out of fear are they paying stocks look soggy or saying, you know what, it's time to get out of high growth -- and they don't really -- i don't know >> well, we have -- we're talking about the bounce here. how much damage do you think that has been done in high growth, e-commerce, cyber? >> i think a lot a lot of people think that it can bounce back immediately. but we did get the sense that there were some winners and losers and the winners that came back are the ones that are the adobes of the worlds the ones that are considered to be blue chip microsoft. >> right
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>> the docusign quarter and the response on the market which did seem to concern people. >> right that was watershed that was watershed >> there was a concern there >> morgan stanley -- it's just the idea that aren't we tired of paying up for what can go away versus adobe microsoft sales, salesforce has been under pressure since that last corner. 82 versus 72 b marc benioff says -- you had to look at the current quarter and realize it was just a complete blowout and that 82, 72, made it so no one thought about the corner meanwhile, i don't know, slack versus microsoft i think that we're going -- it's getting into a titanic struggle.
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marc versus godzilla >> not as familiar with my -- >> predator versus arnold? >> a little bit better for me. >> predator versus alien my point is, there's a developing world where you're either with microsoft of which a lot of people feel adobe is, or you're with marc benioff >> in the form of slack. you're talking about slack versus -- >> there's a real lawsuit in europe we forget about it butterfield. did you ever see butterfield 8 >> early elizabeth. >> they're all good. >> national velvet was one of the great movies ever made. >> intel shares are rallying
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this morning as jim said we're going to talk about it later on this hour who knows about consolidating various shares of companies. >> i try to find situations where you actually spun off some and spun off the rest. and the best one i can find, david, is mac. give you some and give you all. >> barry dillard has a history if you go back -- it's hard to measure -- of incubating companies and spinning them out entirely and creating a create deal of value, you got to go back 20 years now to look at all the different companies. >> it's been great. >> intel doesn't have that history. >> no. >> the last thing i remember, they bought mcafee, that didn't go too well. >> but this purchase which was done for 15 billion and now they're saying it's worth at least -- it's interesting. the question i have is the why
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>> they've been talking about capital ventures of 20 to 28 billion. maybe this is a great way -- >> it's better than an at-market sale of stock. >> exactly that's what people feared. >> they probably don't want to be selling at lows i'm not sure he's going to say they need to raise capital and say, heir, y, we're not getg any credit for that. >> i think that's a question if we had the top -- as dave was saying, are we at the top with docusign are we going to pay 50 billion or was lucid the top is rivian the top? >> if it were an independent company still, given all the -- you could imagine it would have a high multiply. >> 14,000 workers in one of the largest -- >> 100 million chips
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it's a real company. are we at that moment where we have to start valuing this company at 30 billion and not 50 billion? are we, like, through the elation moment -- >> the market is going to have the opportunity to make that decision. >> we have to predict that >> we tell them before it happens. >> yeah. >> that's not what we -- >> look, i told you. i told you that the patriots weren't going to pass -- >> it was windy. >> that was the most boring game -- >> i was able to do a massive amount of work during that game. >> i caught up on "succession. >> the deal, though -- taking it public allows us to ask the longer term questions about mobility today jonas takes a crack at how many cities are going to have cars without steer wheels and
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pedals floating around one of the reasons i think it's going to be wrong because the name of his piece was strange. death of an auto analyst he's arthur miller next it's going to be "the crucible." >> attention must be paid. >> i just think that -- >> i don't know. >> yeah, i thought he was amazing when i saw him -- >> anyway, he calls it death of an auto analyst. i think that jonas -- i'm going to use his title for the rivian. i think he's the one >> meaning >> he thinks he's -- i'm self-absorbed at times which just means -- >> we would never ever say that. what is the point you're trying to make here >> it was about every year that he's been wrong for heaven
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sakes. i feel like he set me up look, here's my prediction but i've been wrong a lot. the piece is an existential crisis piece the pieceis a walking -- it is a lithium-derived piece. he goes back all the way i love jonas -- but the problem with the piece is that all the predictions have basically been -- >> a lot of surprises. >> but mobile i may be the beginning -- although i've got serious questions about mobile i from my trip out to see nvidia they're mortal enemies quick look at futures here as we do see risononnuk ctie to get a second leg here after monday's action. more "squawk on the street" from
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support for a charging network >> that was elon musk last night talking about the spending bill and apparently clashing, i guess, in terms of a policy perspective with the white house. >> yeah. i mean, periodically, you have to remember that he runs a nonunion shop. he's very proud of that. pays people well and if you're going to give a subsidy, you got to give it to everybody. i think this was a very -- other than the haircut, everything he did was rational >> now i understand what you meant. he looks like the leader of north korea. didn't tesla benefit from the subsidies of all these years >> of course just saying, now there's going to be a level playing field. now you have a situation where ford will be the winner. i have jim farley on tonight. >> you do. good. >> yeah, i do.
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>> they had david solomon on this morning i wanted to compete. and when you look at what musk is saying is, how can you give 12,500 to the companies that are union? union. there is an inequity there >> it's a policy of this administration to -- as you pointed out, to be supportive. and i understand why mr. musk would feel that they're being unfairly excluded from this. again, they have been the beneficiary of subsidies -- the main one has been key to part of their business for a while -- >> i mentioned earlier the microsoft versus salesforce. >> i know. ford versus tesla is an all-out war and it will be you obviously think farley is going to bring it -- >> i know he's going to bring it farley is not belichick. >> whether there was any
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subsidies that are offered to gas stations under the eisenhower administration -- when the highway system was getting built. >> there are highway taxes, but i think that musk was very calm, collected. sometimes i missed the old musk. but what he's really saying is, look, let's have a level playing field or let's have nothing. >> we are going to hopefully get to hear him on the next earnings call he talked about the federal deficit and deficit spending take a listen to that one. >> it might be better if the bill doesn't pass. we're spending so much money -- it's, like, the federal budget deficit is insane. it's like $3 trillion, federal expenditures are 7 trillion. federal revenue is 4 trillion. that's a $3 trillion difference in -- if it was a company, it would be a $3 trillion loss. i don't know if we should be
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adding to that loss. that seems crazy something has to give. you can't spend $3 trillion more than you own every year and expect, you know -- don't expect something bad to happen. >> he's right about the deficit. although the deficit as a percent of nominal gdp is at an all-time low. >> when you listen to musk, what you're saying is -- important point, musk is going international. musk -- >> he's going interplanetary, man. half the interview was how he spends half his time on spacex and he's got to get the cost of the rocket down so we can start to colonize other planets. >> china, i felt, won in this discussion he's more pro-chinese. that, i think, is important.
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that does imply human rights issues he's talking about doing 1.4 million cars he needs china and he's been very respectful to china. >> yeah. one of the topics that david solomon of goldman talked to "squawk box" about we'll get to cramer's mad dash and the opening bell in about nine minutes ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪
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("jingle bells") ♪ (doors knocking and bells ringing to the music) ♪ - [announcer] this holiday season, give the gift of grubhub. time for a mad dash. seven minutes before we get started with trading >> first, i want to clarify what i said about adam jonas when i said lithium i was talking about the car battery, not about medicine.
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mkm this morning comes out and saying it's time to buy the bean -- they talk about the idea that the workers are going to be happy. spend a lot of money on workers. well, while i was walking up here, kevin johnson's statements about why there's no need to join the union and there are unionization efforts >> in buffalo, new york -- >> yes i mean even after last night, more than ever, he took it to them in their house. david, what i like about this call is the china aspect i think china is doing quite well for starbucks they put a billion dollars into capex. they have to and i'm going to emphasis to kevin johnson when i see him next time that he must adopt the metaverse. >> we're back to that again? >> i just didn't -- >> you're making your order --
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>> the avatar takes the order in 28 languages, david. starbucks is perfect to have the avatar a human should not take your order. the avatar knows exactly what i want but the barista versus avatar. the unions, kevin is questioning whether you need to be in the union and he gives you college benefits for the longest time, howard schultz always did a great thing for workers and so is kevin johnson. but i guess it's not -- what is with those >> my shoes? before you focus on my shoes, can we give a quick shout-out and congratulations to my producer kerry caufield? she got married. and her handsome husband this is a little bit of a -- >> she's standing right here,
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very embarrassed we wish them a lifetime of happiness. >> david, that was -- >> and, well -- >> isn't that nice >> we got an opening bell coming up right after this. 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 spinal injection increases risk of blood clots, which may cause paralysis. you may bruise more easily or take longer to stop bleeding. xarelto® can cause serious and in rare cases, fatal bleeding.
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the opening bell is brought to you by nuveen, a leader in income, alternatives and responsible investing. >> we're going to continue to find a path past the pandemic probably this will be endemic in society and we're going to have to live with it. but we're going to find a way to live with it and economic activity will flourish i don't believe we're in a new paradigm where the world will be fundamentally different. but it's going to take some time to move forward. i think monetary and fiscal policy will have a bigger impact on the markets than the pandemic will. >> that's david solomon this morning on "squawk box" talking about living with the pandemic also suggested that market returns might be lower in the next few years, jim, and suggesting that maybe we're losing some of our institutional memory on inflation. >> i thought david was very
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thoughtful the whole interview the most cogent thing he said is that he regards the stock as very undervalued look at that move. it's been a big win and i think that a lot of it is wealth management when you listen to him, i think you want to say, you know what, i'm going to give my money to goldman. it's too hard to navigate. self-serving i don't know having done that at goldman, that's the wrap. >> talking a bit about work from home i didn't realize he said 50% of the employee base is in their 20s. they don't want to be in their apartment, that's his argument. >> i will tell you, they've been better than most at goldman, but they're having a difficult time getting people in five days a week in part, it's the manager's above them who have the commutes, perhaps, that don't really want to engage in that, certainly not five days a week
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it's a continuing battle >> but isn't this interesting, on the one hand, we have these great institutions like the starbucks and goldman. and you have workers saying we want back, we want back when we work, we want more money is that a new level of selfishness or the worker getting their due? >> i think it's that to a certain extent we haven't talked about this in a little while i know we all hear the same thing which is my best performers are the ones that want the most flexibility and i have to give it to them, otherwise i will lose them and younger people don't want to be sitting in their apartment. there's no doubt that's true but at the same time, so many of these leaders of organizations we speak to, jim, continue to say, it is a new world, period people are not going to be coming to the office five days a week if i can get them in two or three days a week, i'll be happy. and i wonder about connection to the organization and attrition rates going up and a lack of
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innovation these are all concerns, but they've said this is the way it's going. >> lack of innovation, a lack of culture, creating the culture. but on the other hand, a younger person says, look, i don't want to work, i don't want to infect my kids, i don't want to infect my parents, i don't want my parents to die of covid. it's game, set match are you going to be like, listen, i don't care maybe the goldman of the '80s would say -- they wouldn't buy that now they have to say, okay, if you're concerned, i'm going to take your concerns seriously and that is an actual concern. how many elderly die and are you one of the reasons why they did? you don't want that. >> not to mention aggregate office demand which a lot of projections say could fall maybe 12 to 20%. >> we have this big number that we do at 5:15 each morning which
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is pretty cleaver. 97.2% is the occupancy of rental apartments there's a building next door to us, the old banker's trust building, it's going to be residences soon. i see an opportunity to make residences out of these offices. >> they're going to have to. the b-class buildings in particular, they're not going to be full again ever. >> ever? >> the a-class, you talk about the vanderbilt building, it's filled, hudson yard is doing fine in many ways -- >> b-malls. >> the employees are not coming in the employers are still paying for their space with the expectation that they need to have it. but these b-office buildings, it's unclear what's going to happen to them maybe they do need to become residences -- >> we have so much of it converted downtown i don't think people realize, what you see are restaurants next door and apartments in what used to be the great city service building
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>> yeah, for 20 years. >> i like when it used to be the engine you would come down here in the '80s and be like, it was -- everybody was like, you got to get out of the way of people because they were getting there faster than you and you're pushing people away. it's like, hey, that building was where alexander hamilton was the -- and alexander hamilton is buried over here. >> like the opening credits to wall street, remember. come into the office, pretty busy. >> speaking of demand, doug parker now leaving american. did talk about corporate demand, actually, potentially rebounding as soon as 2022. take a listen. >> how we've done through this -- how we've done through the entire period. but particularly how we've done since the pandemic the stocks are up more than any other airline so far year to date and i'm certain as we move forward, we'll continue to see more of that. >> robert is on will replace
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him. >> i don't want to have people think that was the one, also a union situation there too. but doug parker has been true north. i've felt that he weathered pretty much everything and these people who -- not this this is -- try to measure a ceo he always gave you a level of confidence that american is going to be around you know there were other times when american was -- >> listen, there were decades where airlines didn't earn their cost of capital. then that changed. >> it lasted >> but there are have been no shortage of challenges for the industry, certainly over the last two years, and a big question mark about what the real turn of the business traveler will be and will we get back to our earlier conversation, you know, people not coming to the office as often. people not getting on planes as
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often. a road somhow now, we would much rather do it over zoom it works better. it's more effective. >> a lot of the travel budgets that people are making for 2022 are dramatically lower in terms of trying to find a place where you can cut expenses, people taking that one trip over to taiwan to hopefully have a dinner with someone and maybe they catch some orders, that's over. >> it's not like people won't get on planes to conduct business but they're not going to do it at the frequency, it wouldn't seem -- >> get more work done. the zoom generation, these younger people, one of the reasons they want to get out of their apartment, they work from 7:00 a.m. -- if everybody is on zoom, then there is no hour where work is over >> it's not good for their mental health. it's not good at all >> wow david. >> it's not. i don't know. >> the empathy so impressive, right >> we all have kids.
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i feel like we got to parent these younger people a little bit. get out of the house >> i remember coming back from college, my bedroom was made into a living room i was watching the phillies -- the phillies don't pay anything, get out. i went to my aunt's house. there's no such thing as an empty nest it's just a crowded nest. >> that's going to change my plans a little bit >> the first couple of years, you love it. >> i wanted to talk about a deal this morning because it's reflective of so many of the deals we've seen which is -- without any headlines. mind cast. does mind cast go private? it's very typical -- $6 billion -- you talked about mind cast. >> a question on the -- it's $5.8 billion deal. there's a go shop as is often the case
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30 days with a private equity. but not a huge premium you see right there. obviously, the stock is at near highs. but not a huge premium, at least, on the recent price >> that company made money that was why i liked it. cloud security and made money. >> they're never giving up on tackling their biggest security challenges with their customers. they built an intentional design ideology that solves the number one cyberattack vector, email. it's a year where there's a lot of fear of the ftc, regulators, you're not seeing the headline deals where we would sit here talking about a huge transaction. but it isn't as though there hasn't been a lot of m&a and a lot of them go private. >> i think that used to be very big deal speaking of big deal, intel. intel announcing plans to takes
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its self-driving car unit public it could an valuation of upwards of $50 billion who knew that was buried within intel. which is one of the reasons why i'm happy we have pat gelsinger. you are a delight. you always come up and have something interesting and new. this is one i think that basically tells you that this company, $200 billion, is clearly undervalued. you had mobileye buried within >> thanks, jim we definitely see the opportunity to bring mobileye forward in a big way clearly this is an opportunity for visibility with mobileye, visibility to the market and shareholders visibility to the customers and increasing the visibility to the talent that we want as part of this great unit. today's an exciting day as we roll this out and obviously bringing it forward next year we think will be a great opportunity. this is such a unique asset, jim. it really pioneered the category
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and it's evolving to l-2, l-2 plus it's a powerful capability every car we believe will become av looking forward and this is the asset that will make av happen at scale. >> you have some great clients, bmw. ford that be a huge believer in this can you talk to people how this is a real company with massive sales. this is not a company where there's just a whiteboard going on mobileye has been the leader ever since 2017, it's been a big success and you've tripled the sale since you've taken it over. give us the parameters of why 50 billion is not crazy. >> last year it was about a billion in revenue this year we expect to grow that 40%. it's profitable already. this is already very profitable. now we have 30 companies that are using their -- this year
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alone we added 41 new designs for the adaz and l-2 and l-4 platforms this is a real company that is leading in a powerful technology company they've built the stack of systems, software, the mapping software, the whole risk management system. they have been unquestionably creating this category and the only company that we see who is anywhere close is tesla in terms of capabilities. this is a very real company and it's been what hidden inside of intel. bringing it forward. this is great for the market >> yes, now, one last thing. i was worried about where you're going to come up with the money for your aggressive capital expansion plan maybe 20 billion, 22 billion it turns out, i should take that off the table, shouldn't i the worry. >> we saw that intel's balance sheet, cash flows, 20 billion
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plus of operating cash flow per year we have a very strong position we were well capitalize mobileye and the proceeds from this will be helpful as well we have a lot of capabilities to move forward with our capital buildout we've clearly seen the fab build and it's critical for us in this semiconductor conductor supply shortage we're in and we're working aggressively with the u.s. and europe to go bigger and faster than we've already been able to layout ourselves >> pat, it's david i'm not quite hearing the why. maybe a little bit is it simply because you feel like this is an undervalued asset that is part of your portfolio that is going to be recognized more and get the stock price up why are you doing this >> clearly, the visibility of this category, it is a hot category and we have the hottest asset hidden inside of intel we wanted to give it more visibility visibility to the customers.
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visibility to the market and investors and visibility to the talent that we want as part of this as well the timing is good this is now where we're seeing that inflection point in the av category mobileye pioneered adaz and now it's going to leap forward to be a leader in the entire av sector this is the right time to go do it and, third, we do think that this ability for intel and mobileye to partner in a sustainable long-term way, you think about intel and my commitments to open up automotive foundry, automotive platform for open computing and mobileye being the vertical. we've have a horizontal and vertical strategy for this burgeoning category of automotive semiconductors. this is the strategy we're excited. >> does it mean at some point that you would part ways in other words, you'll still control the company. is that going to be indefinite
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in terms of intel owning the majority of these shares or is there a point at which you might imagine that mobileye would be majority owned by public shareholders >> i learned to never say never, dave we see this as a value creation cycle in front of us where the category is going to be growing rapidly. the benefits of an intel technology platform will be very significant to accelerate and expand the opportunities for mobileye and our entry into being a much bigger player for the automotive semiconductor with this open horizontal strategy that we're laying out the combination of this, i see we're on a very powerful, many year cycle of value creation business acceleration. we picked a great formation of how to bring this asset forward. but still benefit from this much bigger platform that intel provides >> so, pat, you and i have talked about how mobileye has
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had -- it's in israel. in the united states, we're worried about car accidents, situations where i think the machine is much better than the human. the machine doesn't get tired and the machine doesn't get drunk. how do you convince the states that have been not that great about allowing self-driving to understand that a self-driver is a safer car than a human driver? >> yeah, it's a great, great point, jim one of the things that mobileye has really pioneered is this risk assessment system and we can now statistically prove that on a regular basis, that a mobileye car is an order of magnitude safer than all the cars on the road around it it also builds an environment to say, this is how drivers operate in new york, in munich, paris, china and be able to bring those learnings into a driver experience and i think as regulators get more comfortable -- obviously,
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munich, at the ia a show, we announced our plans for the robo taxis. we just launched our plans for the equivalent service for the -- a self-driving in china with gili. making great progress with ford and others one by one, city by city, country by dcountry, they'll realize this is the safest way to enable the commercial as well as consumer grade capabilities it's an exciting time. we see it hitting that inflection point right now. >> i'm thinking back to when you took the job, everybody was talking about, we got an engineer back at the top of intel. now we're back to talking about capital instruction and people referencing your experience both at vmware and emc. do you feel comfortable riding both of these lanes? >> i think any ceo has to ride
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both of these lanes. that said, when the ceo of mobileye began to discuss this eye, it was like, i sat in your chair for the last year, the last eight years at vmware i know exactly what this feels like to be in that other chair it gives me a unique opportunity to work with amnon to maximum this asset, build that interdependency within intel and to bring my techie geek to the platform as well every experience that god has given me over my career is being utilized every day at my job at intel and here is another opportunity to use some of those unique experiences i've had as the vmware ceo. >> you mentioned tesla earlier i would love to get your take. the "new york times" did a story the other day questioning the use for autonomy in tesla vehicles of only cameras
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musk wanted to go only cameras how do you see it through your knowledge of what mobileye is doing? >> what we just announced at the munich car show earlier this year, we're combining camera and lidar. we have a fully operating autonomous vehicle with lidar. we have a fully operating autonomous vehicle with vision and we combine the two to give even higher quality, reliability and risk reduction as well so we believe that there will be different levels of the market where vision only might be acceptable for certain use cases and certain markets. but we do believe that the higher standard of a complete integration of a lidar, radar with vision will be the highest quality of experience that is possible i appreciate elon is a great engineer or great innovator as well this is one where we agree, that we can do vision-only autonomy,
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but vision and lidar will provide a greater amount of reliability and risk reduction as well. >> pat, i've been at times critical of some of your things. this is a terrific thing i loved mobileye and i think you're right about the valuation. i want to thank you for coming on pat gelsinger, ceo of intel, this is a great move for you. >> thank you so much. >> we're going to continue that conversation later on with mobileye's founder and ceo 11:00 a.m. eastern time. first time for the bond report as we look at how treasuries are fairing two year back to 66, 67 basis po points the dow is up 145. don't go away.
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jim, what's on "mad" tonight? >> listen, tonight, we have starbucks. we're going to address the labor situation head on. and then, i'm not going to tell you what i have with farley because it's going to breaking news >> i bet it is >> and i'm tired of giving everything away. why don't we see how it plays. >> corporate darwinism at work we use that. >> and not getting credit for its possible >> what? the antibody that works? >> well, it's too early. remember, ford's mobile eye. but what would ford be doing with ben yauk? >> at 6:00
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this would be the best line since 2019 >> is it santa clause already? i was thinking closer to crismist maybe the santa clause rally is coming earlier >> you can't set your watch to it >> i got to set the lithium. that's not a medicine. >> "mad money" 6:00 p.m. an exclusive with bob bakish don't go away. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter,
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♪ good tuesday morning welcome to another hour of "squawk on the street. live at post nine of the new york stock exchange. s&p finally getting back everything they lost 4678 is above the opening level. up almost 500. >> we're 30 minutes into the trading session. here are three big movers we are watching we're going to start with apple. saying they'll increase shipments by 40% in the first half of next year.
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he was actually telling suppliers to lower production amid slow dg mands but the first report is getting the market's attention then, tesla attempting to break a four-day losing streak breaking faulty cameras on models seen by cnbc. and issuing a report saying no rival will challenge in 2022 plus, intel spiking as a semiconductor giant plans to take the self driving unit mobilize public and you can see shares are up about 5.5% you did talk to the intel ceo about this last hour >> yeah, we did. says he wanted to bring out the value. not as much about raising capital. they need a lot of capital let's get back the markets the dow coming off its best day since march. mike is looking at how stocks
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are positioned as we head towards the end of the year. quite a strong day today, mike >> very strong day the two-day stacked upon each other yesterday and today are part of the post-shakeout reb rebound playbook the boxes are being checked off. the s&p's now getting to levels we first reached about five weeks ago, at which time the market was on all these win streaks, optimism was brimming over now we had this scare, coming from a couple of directions, whether it was perceptions of fed or not sure what omicron was going to bring in terms of growth those two things relieved and it reset sentiment and positioning and did a huge amount of damage to the average stock, which allows people to feel as if they're buying smart on a dip, as opposed to chasing things higher
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it's not as much about macro it's about a shock to positioning. some forced selling. credit markets, where the big thing to be concerned about, then we're not so sure about stocks same with the volatility markets and treasuries all those things moved away from the risk aversion levels for now, we'll see how long it takes, if we're going to go back and revisit the area it's sort of on a longer term chart looks like it would be a challenge. >> the out performer today but in recent days, it's been the dow industrials. anything that signals? >> i do think we're definitely i'm not sure it's either/or. because there's been so many new lows on the nasdaq and in some of the big nasdaq
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100 names. you're seeing the street come out and push and defend the favorites of the nasdaq. i don't think it has to be an either/or. if i look at the home building sector, and consumer sickliccal, it's working pretty well so, that tells you the underlying domestic story is in place, even if we can argue what that means because of adobe and apple. >> best two-day gain since november of last year. let's get toour next guest, who says while covid may have a negative impact, expect to see it in next year's q1 instead of q4 price chairman byron great to have you back, good morning. >> great to be here as always. >> as we see a little bit of risk on, i'm reminded you did see that 4500 level as being pretty important the other day >> right
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i believed at the beginning of the year, going back to january, 4500 was my target and when we reached 4500, i said the market was vulnerable here and we've had a correction of those points above 4500. on the other hand, the earnings outlook has improved the economy is extremely strong. and the fourth quarter earnings could be up 18%. that may be reflected in the price of the s&p getting above 4500 >> yeah. we mention said in the intro various cyclical effects from omicron. i noticed goldman upped q4 gdp but cut q 1. do you think we're going to feel this in the following three months >> i really don't know i know that omicron is going to
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have an impact on the economy. but the economy is so powerful now. almost every puramter you look at i know the employment report was a little disappointing, but unemployment is 4.2% there are no layoffs house prices are going up. people feel very secure about their jobs the quit ratio is high so, every puramter you look at from employment to capital spending to small business indicators, purchasing manager indicators goods. indicate the economy is roaring ahead. so, we're going to have real gdp, very strong in the first quarter. in the fourth quarter, maybe slower in the first because of covid. but i don't think a recession is imminent
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>> i mean, that raises the question there's a lot of uncertainty and macro factors swirling through the market as we head through 2022 whether it's covid, or inflation or the fed or midterm elections next year as well. i mean, how should investors be positioning themselves, given all these question marks >> right i mean, china's a big question mark they're tapering now and they may raise rates next year. the economy maintains its momentum, it can endure several fed rate hikes in 2007, 2018, in 2000 itself. the market continued to work its way higher even though the fed was tightening >> you've been through a number
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of market cycles given to the factors we discussed day in and day out, and the frothiness, does it remind you of other periods we've been through we hear comparisons to the late 1990s. how do you see it? >> i think it's more like a 1995 where the fed raised rates we didn't have a recession the market had a small corrections but nothing major. i'm hopeful that's what happens this year. the fed raises rates but the bull market is not over. i think the low we made at 2020 is going to be a low that will last three to five years >> hey, finally, on inflation, people have been taking solless and moderating delivery times.
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pricing, back logs better ip growth and now with the jobs number on friday, the average hourly earnings, a little under expectations. they thought that might be moderating on the wage front think that's too hopeful >> i'm not in the transitory camp i never was. right from the beginning i said inflation is going to be real i think 2% is in our rearview mirror i think the inflation won't be veerlant i see inflation in the 3 to 4% range. >> byron, that's a pretty good picture you paint. we're going to see what the coming quarter and year brings good to see you as always. thank you. >> look forward to coming back >> micasa, su casa going public.
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where bob bakish says growth has surpassed expectations announced in the third quarter yoi joining us is the ceo, mr. bob bakish i'll give you a moment to tell them what you're seeing in terms of an acceleration of growth at paramount plus >> thanks, david great to be here we're excited about what we're seeing in the current quarter. we're excited about paramount plus, which we launched this year and the fourth quarter you saw our broad content offering to scale, combining skrimted shows, including new scripted shows like mayor of kings town bringing seal team over. you saw the power of kids and film continue, most recently with "clipper. nl continues to perform for us put it together and we announced
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earlier, in november, that we had a record week in november. in fact, november overall is record month we continue to see acceleration in terms of subscriber ads from what we posted in q3 to what we will post in q4 and as i said this morning, we now feel better about that statement in terms of the magnitude than on our third quarter call feeling great about the momentum and it's fundamentally being driven by content. >> when it comes to that as well, i know you're going to be disclosing or resegmenting the business i've asked you about this in the past are we going to start to learn more about net ads free verses paid what areio going to tell us when you do this resegmenting >> yeah, so we're going to dee
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an investor event in early 2022. as part of that, we're going to talk about a range of things content on paramount plus, metrics and yes, introduce the next leg of disclosure that next leg will include the fact that we're going to have a separate segment that will allow investors to see revenue through profitability and we'll have additional metrics disclosing every year we've increased our disclosure and 2022 will be the next step i don't want to get into material specifics but know our decisions are based on listening to our investors, understanding what we're looking for and understand the value, both in the streaming space but continuing to extract in the linear and legacy space because that continues to be an important and valuable part of the business >> the other will potentially
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trade off on revenue but you say revenue to profitability,ing when do you see peek spend ogkerring here? because right now you're spending a lot of money and not making any money >> yeah. well, i'd say two things on that one is i also said today that if you look at the other part of our streaming business, pluto, the number one fast service in the country and we're rolling out around the world, even though we're runing it for growth, pluto domestic is profitable and approaching broadcast margins. there's clearly a path to profitability in streaming what we've said before is we're increasing streaming content invegsment and we'll increase investment in 2022 and 2023. overall content won't be at that rate because we'll continue to remix.
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we'll talk about an updated view at our stream nothing vester event, which will include an updated long-term view and address things you're looking for in terms of timing and path to profitability, but i'm not getting into that now. >> here's something you can get into a bit for me. there was a recent interview where she seemed to indicate that you would want to keep your content for use on your own platform we've had previous conversation wheres the strategy of being an arms supplier to much of the rest of the industry seemed to be one that you were embracing yellowstone went to peacock. you did a deal for south park as well have you change your approach now, bob are you seeing it's for
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paramount plus, as opposed to being outside of it? >> it's evolved as the capability of the company has evolved. when i had that conversation with you about being a arms dealer, if you will, at that time, the strategy, which was pluto, which is working out better than we imagined. but we didn't have a path to scale payout put the two companies together and obviously we took cbs all access and what we've seen since then is begin the transition of pointing our franchises to our owned and operated properties. example is very recent with star trek dediscovery international was netflix. we have taken that back globally and seeing season 4 off to its best start today our go forward strategy is
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heavily pointed to our owned and operated properties. we have a tail to that because we have a bunch of deals that predate it but there's for sure a shift in our operation as we pursue what we view as a very meaningful opportunity for viacom cbs >> disney recently increased the content spend by some $8 billion. there's always some going to question your scale. netflix, amazon, apple companies with virtually unlimited balance sheets do you have the scale to truly compete with direct to consumer? >> what i can tell you is our streaming strategy is working and it's accelerating. our thesis with paramount plus is a broad service would be differentiated news, sports and mountain of entertainment. we're clearly seeing it working in the u.s., including in this quarter.
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we're seeing an acceleration not everyone's seeing that so, i feel very good about what we're doing. it's clearly connecting to consumers. and we're working with people all around the world, who see that value as well and that's one of the things that helps us accelerate our momentum without necessarily owning a bunch of different assets >> and finally back to the old business, if i can call it that. we've heard some companies noted a --- advertising >> we're not immune to the supply chain issues. it's definitely a transitory item and as we exit the supply chain issue, we'll see a nice rebound. at the same time, i can tell you we're seeing real health in categories we haven't seen
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earlier in the year. categories like movies, like retail, like travel. and that makes us feel great about the underlying diynamics f the business and continue to see a linear growth despite supply chain issues we feel great about it because advertising works. >> not necessarily in the stock mark right now i asked that question because even with the recent rally, the stock is down almost 14% for the year we see the crazy chart. >> we're doing many things to unlock it for our investor base. it starts with executing and again, we're seeing strong execution in q4. it also goes to what we talked about earlier in terms of
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enhanced discloser it's frustrating to see where the stock trades but we fundamentally believe in the opportunity ahead. we have conviction we bought stock in november because we believe this company is substantially undervalued and we're excited about the road ahead. >> bob, we're going to leave it there for now, but always appreciate your coming by to update us. thank you. >> still to come, bit coin, ether. and we'll talk more about that meanwhile, 2% gains on the s&p, nearly 3% for the nasdaq
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how do i know that you're not a weirdo? ♪ confessing, yeah ♪ ♪ oh, i've been shaking ♪ ♪ i love it when you go crazy ♪ what are you doing? ♪ baby, there's nothing holdin' me back ♪ i knew you were a weirdo. l welcome back to "squack on the street." it's time for the global jets etf. jets down about 3% on the year as covid concerns and travel restrictions are waded on the passenger airlines up almost 2% american airlines comprises
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almost 10% of the fund and chief executive officer, doug announcing this morning that he will retire from that role on march 31st but remain as chairman he'll be replaced by current american airlines president and as i mentioned, you can see those shares are reacting favorably to that. we have more after this break thhe s&p and nasdaq having their best days since march. [crowd cheering] how's sanchez looking? with your qb's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical analysis software. how am i gonna do? become an agent of innovation with invesco qqq. ♪♪
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update at this hour. the video call with putin was scheduled to begin about 30 minutes ago. the white house has been saying biden will warn the russian lead it will trigger economic sanctions.
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they want a garntd they will not join nato. and it includes a test for nasa to explore whether lasers can be used to communicate in space over extremely long distances. since the beginning of the space program, astronauts have used radio frequencies. and strong winds from a slow-moving storm. there's been flash flooding and they warn that catastrophic flooding is a possibility. the rain is expected to continued to mark the 80th anniversary of the pearl harbor bombing and they visited the memorial this morning to pay tribute to veterans. a wreath contained one wild sun flower to honor bob dole the long-time gop senate leader passed away over the weekend carl, back to you. >> thank you very much we're about an hour into the trading session. get a look at some of the biggest leaders on the s&p so far.
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being led by energy. financials doing pretty well the vix back to 2022 after crossing above 30 the last few days >> we're also keeping an eye on the cryptocurrency bitcoin is up after the crypto crash. and jill, always great to have you on that is where we're going to start. some of the dramatic gyrations we've seen, whether it is bitcoin or some of the other coins. i know you yourself watch so closely. we have the cofounder of wax and tegger on. he suggested the influx of traders and wall street folks have actually meant that bitcoin, for example, is increasingly held as a risk-type asset, similar to growth stock and when you see risk off of crypto currencies as well and that's contributing to the news we've seen how do you see it? >> i think that's definitely a
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factor if you look at the way bit coin strayeds, the way crypto currencies in general trade, it is primarily with risk assets and we're certainly seeing that over the course of this week, as equities have been down, bitcoin is followed and equities have bounced today. bitcoin is also showing signs of strength there's also another angle through which the market looks at bitcoin and that's an inflation hedge. given that bitcoin has a fixed supply that's always been a part of the dynamic and a part of the investment thesis, whether you're talking about wall street professionals or retail traders or the core of the bit coin market that has been in it over the longer term over the last ten years it's been around as an asset. it also has that dynamic as an inflation hedge. it's not as simple as saying this is a risk asset and it's
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going to trade with equities there's also that dynamic to it as well that puts it more akin, in a way, to something like gold >> although, we haven't necessarily seen it trade more similarly to gold. last week was case in point on that that boeing said, your fundamentals have not changed. >> absolutely and i think that's one of the examples of the fundamentals that haven't changed, even as you see the market gyrating around and figuring out where bit coin and crypto currencies sit within the market and within the risk spectrum and all of that but again, if you look at how the market is traded, a lot of it has been driven by very micro factors. this crash you're eluding to happened over the weekend in very thin markets. that was driven by again a lot of technical factors of liquidation.
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the fundamentals though, have not changed. all the cryptocurrencies in the last six months. those metrics are continuing to move up and to the right if you look at the fundamentals of the technology, there's still breakthroughs being made on that front. progress marches on, despite the price action and if you look at the capital inflowing in the space in the last few months alone, you've seen multiple, multibillion dollar funds being dedicated to the asset class and that's meaningful when you're talking about an asset worth a trillion dollars that's suddenly a meaningful percentage there and i think we'll continue to see those trends you have to separate out sort of the micro and the short-term of what's happening from the longer term >> so, does that mean that the
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chief risk right now is regulation and all the question marks there. >> yeah. again, that's a long-term risk we'll see what comes out of the congressional hearings tomorrow. i take it as a positive thing the industry is having the opportunity to send representatives to washington and speak in front of congress and i hope that will continue to clear up a lot of the misconceptions i think reg ylgy ulaters have about the spags you've been hearing out of the hill and sec a lot of negative commentary on cryptocurrencies in the last several months since that is a key long-term risk >> always great to get your insights thanks for joining us. >> take care wanted to take a look at shares of our parent company, comcast, because they did move
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sharply lower. this after the presentation earlier. you can see the stock down 5%. the man who runs the cable business for comcast saying at the conference, that he saw 7 to 8% growth this year over last year that does appear to be below at least some of the guidance that's been out there or expectations also when the comes to broad band net additions for the year, 1.3 million for the year a total of 3.2 million over the last two years but he did say something that echoed comments we heard from the ceo of charter when i interviewed him a few weeks back the seconds half has been different than the first, said mr. watson we start with a lot of a similar activities in 2020 a lot of move activity that is people moving, of course and typically does bring them a new subscription and we saw a
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real shift in terms of move patterns this down shifting in moving patterns is impacting comcast in the same way that seemed to impact charter as well again, he's still talk about the fundamentals being strong and positive things in terms of their business but the stock is getting hit at this point with that 1.3 million net broad band additions and the 7 to 8%. >> not quite back to 4905 from december 1st but definitely on the move after the break, the former head of e commerce on his new venture getting to food delivery as the dow is hanging on to gains of 500 plus points stay with us
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take a look at some of the dow gainers led by salesforce, intel, apple a new high on a day where over at morgan stanley goes to a street high 400. dow's enjoying the best two days since november of last year. >> shifting gears. i spoke exclusively to mark laurie as he unveiled wonder group for which he's founder, ceo and chairman we talked the future of food tech and habitation and the fuch orof the nba's timberwolves since he's the new co owner. he discussed his vision to enhance food delivery service with mobile kitchens and celebrity chef and partnerships as wonder emerges from stealth >> as you see what happens in food delivery, they don't want
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to cook as much and enjoy the convenience of getting food delivered. we know there's challenges in the types of foods you can deliver, price point the heat is not always there what they've done is basically took it to another level by basically cooking the food right outside your door in a mobile kitchen. and that's really wonder in a nutshell there's a chef on board driving the mobile kitchen, pulls up in front of your door and on average and around 10 min autes and fires up a -- it's cooked in a commissary kitsch sdwhn trucks are loaded in the morning and on the road >> cnbc earlier this year broke the news that there was a pilot program underway for wonder in north jersey in four cities right now we've proveen the model.
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we'll be adding over 1,000 mobile kitchens in the next year, expanding through the tristate area. we purposely start in the suburbs because we felt they're working in the suburbs this is a big mass idea. we could have started in new york city. we think new york city will be the top market, given how often people hoarder in. but we felt like let's prove it. it works in the suburbs and we'll know how big this can be and we now know this is going to be massive >> so, what is it going to take to scale i've heard from sources that you've raised to the tune of hundreds of millions while the company is in stealth. how much have you raised >> hundreds of millions is a fair number. but we will need a significant amount of capital to scale this across the country the good thing is we're able to prove it in a local area, get the economics right and once that's right, it's a function of capitol and the team executing
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i think we've got an incredible team over 800 employees we built the company to scale day one. we've made massive investments in things like food safety and government relations we're going through a public company audit. a very atypical start up from the way it's being built >> that's always an option i think you want to build the company as though there's hundreds of billions from day one, build the infrastraucture the right way. >> are these consumer habits you would expect to remain, even as coronavirus subsides >> yeah. i mean it has in many cases people are going to restaurants i think all it accelerated a trend that was happening i don't see it going backwards i see it only accelerating in
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the coming decades we're in the mega stages of a mega trend >> and the city of the future. what is that prospres planning and development and since i know you're bringing in a lot of other voices and experts to the decision-making process, what does that look like and how does it play out over the next couple of years >> that is a multidecade, 30, 50, even beyond my lifetime kind of indeavor and i have a lot of passion for that there's a lot of great people being involved i'm not the one solely driving it >> have you already received rek requests or demand from people who might want to settle in the city once it's built out >> we have been surprised that the inbound has been incredible. i think we're now probably approaching 20 or over 20,000 people that have reached out and said they really want to learn more
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they want to potentially move there. there's a lot of interest in this new model and it's very exciting it's a huge projects that's going to take decades to fully realize the division and i think we're on to something. i think people are ready for a change, for something new and i think we've got a good solid mission about creating a more equitable and sustainable future and we have a plan to do it. >> as someone who's built a career at the intersection of technology and consumer demand, how do you bring some of those capabilities to something like an nba team? >> i think there's a ton of ways but probably the biggest is on the fan experience side and just thinking about the things you can do in an arena and to use things like augmented reality, i can go on and talk with this a while.
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but safe to say there's lots of ways to infuse the latest technology into the arena and the whole fan experience and take it to another level and that's one of the things i think we're really excited about >> and finally, on this topic. psg and other soccer teams have done things like issue their own coins. in the midst of the excitement and attention we've seen around cryptocurrency assets is that something you would consider withthe timber wolves? >> definitely looking at nfts and how they can play a part to increase the experience. we haven't settled on that and still in a learning process right now. >> so, it was a wide-ranging interview. and the fact that laurie, who departed walmart in january and perhaps best known for has, with wonder, essentially pivoted away from retail and
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those retail roots altogether, telling me, quote, he's all in on the food-focussed start up and this is his new day job. the thing he is focussed on getting off the ground now >> the trucks that pull up now in front of your home and bring something and don't quite cook it but almost cook it. what's the price point verses doordash or uber eats or any of the other services to get food from the restaurant? >> they're partnered with different chefs and restaurants. bhauts interesting about this is because it's a combo of part ghost, part food truck, it's servicing a limited number of homes for each of the mobile trucks that means they can do multiple deliveries in one trip and because they're prepping the food at scale in central
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kitchens, laurie says that helps to lower the cost of that food prep verses, say, a restaurant there's great write up on all the details. if you want more details, i say that to the viewers. even for the evening, they say it takes about $100 in sales per hour so far it's been largely word of mouth in their pilot area. >> except in manhattan when they're going to get parking tickets. got to add that in >> got to account for that er for there's no doubt. >> i guess that's why they're counting the suburbs >> off the session highs but still up 4%. best level since about the 21st of october announcing plans to take mobile life public in what could be a $30 million ipo. >> the benefits of an intel supply chain will be very significant to accelerate and
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expand the opportunities for mobile eye >> and we'll have a lot more in the next hour on tech check. we'll talk to the ceo of mobileeye. don't go away. how liberty mutual customizes their car insurance. ow! i'm ok! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ only in theaters december 17th.
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welcome back stocks are continuing to rebound today with every sector in the s&p 500 in the green as you can see behind me here energy stocks are among those leaders in the trade today and if you look at names like devon energy, diamond back, hess corporation all firmly in positive territory and the move comes alongside rising oil prices as the market bounces back from some of last week's omicron fears and the outlook for global oil demand recovers at least a little bit here so watch the oil prices. more "squawk on the street" eaahd.
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♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪
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airbnb competitor is going public via spac oi and seema mody is joining us with the ceo. >> matt roberts, welcome to cnbc we've spoken the last two years as you have built vacasa into this tool for homeowners, everything from cleaning, fixing
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broken toil ets to fields injuries going public today what do you plan to use the proceeds you raise on? >> thanks for having me on we'll take these proceeds and really invest back into the huge growth opportunity we have in front of us. we'll triple our investment in the technology platform that we've built. and we'll continue to add properties to our platform >> i've spoken to a number of your investors including tpg i think that there is a question on ball street around how your relationship with airbnb, expedia and booking evolve overtime you've told me that we're not a competitor, a partner, but at the same time, you are building out this technology to convert some of the customers to book directly on vacasa so is the broader goal to disintermediate the publicly interested companies >> no, not at all. i was going to correct that comment. we're absolute partners with the major distribution channels.
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our focus is on the supply side of the equation. yes, we have a demand side, but our primary focus is on adding supply there is so much demand for vacation rentals and vacasa's end to end technology solution allows us to bring new supply and meet that demand so we're strong partnerships the intole is not to disintermediate anybody, it is to support and supply what is now the hottest product in travel which is vacation rentals. >> i think some would disagree, but i guess time will tell where you put your money to work how would you describe what your bookings are telling us about how consumers are responding to the ochl vmicron variant are they canceling plans >> they are not. we are not seeing any impact in our booking pattern with the new variant. in fact when delta was at its peak in the summer, we posted record results for the company >> one question that has come up today with a number of ceos that
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have joined us about whether they will mandate employees to come back. what percentage of your bookings are derived from that remote worker, that nomad traveler who has decided to hop between homes the last year? >> it has been a great secular trend in terms of favorability for our business, the business and leisure combining of travel, extended weekends has all benefited particularly our accommodation type vacation rental homes, it is ideally suited to support that with wi-fi or separate bedroom for somebody to work in. so the business has been a tailwind for us in the shift of how and where people work. >> is the focus purely on the leisure traveller at a time when we have glenn fogle telling me that business travel will return next year? >> our primary focus wil continue to be on the leisure side of the equation we're much more in rural
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destinations, beaches and ski cabins so our focus will be there the change in behavior in how people work and where people are allowed to work now, that is just supportive for that leisure, to blend the business and leisure together >> well, we'll leave it there. a new world as david faber calls it matt, good to have you on. congrats portland, oregon based company going public that will do it for us back to you. thanks for quoting me. always appreciate that let's give you a quick look at the markets here we're having a strong rally, the s&p up over 2%, nasdaq approaching a 3% gain. apple shares by the way with their addition of another 3.3%, now eclipsed $2.8 trillion for a market value for the world's most valuable company. >> remember when we were so focused on it surpassing that $1 trillion mark? it wasn't that long ago. nasdaq first back to back gains in more than would weeks you are seeing best days since
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march which again speaks to the rally that we're seeing. would s you are seeing best days since march which again speaks to the rally that we're seeing.n would. you are seeing best days since march which again speaks to the rally that we're seeing. >>would weeks. you are seeing best days since march which again speaks to the rally that we're seeing. >> everything except for our parent company comcast over now to tech check which starts now ♪ happy tuesday. welcome to tech check. i'm jon fortt. futures off. today intel surges as it announces plans to spin out its mobile iunit, and the continuing turnaround attempt, the beleaguered american giant and then sharp moves within th


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