none of this is really moving the needle so now that jack is gone here and the cto i think is just a really disappointing choice. if technology and innovation in the company has been a big problem, and an insider who's the cto not going to be the fix for a company struggling to grow off their 200 million user base. for me i'm pretty disappointed i've tried two trades this year prior to my latest one which i've talked about, and this is not the piece of news i think is going to get the stock going here this company wept public ip2013. it's up 75% or so. the s&p $500 is up 200%. and all of that cambiombined is square this one has got to shakeout i still believe this company is a feature on a larger platform it's not going to be going at it alone and maybe the cto was a good choice to sell this company not the founder still there who took them public a few years ago. >> what's your verdict selling out of your position >> basically i was in a few calls and it's basically worthless at this point. and i was thinking about adding a long position before this sort of news. an outsider, maybe

he found friend feed acquired by facebook which led to his becoming cto before that he was at google as a product manager. he has good product chops. >> dorsy writing on twitter or memo, you have no idea how happy this makes me with bret taylor becoming chairman. when we talk about the differences between other founder-led companies, something that twitter does have if not market cap in size to the other ones that we mentioned like alphabet, apple, amazon is the regulatory pressure. we've seen those ceos step down over the last year and a half at alphabet, am von i wonder do you think this has something to do with the jack dorsey simply not enjoying, testifying in front of congress and all the pressure that he faces as ceo of twitter? he didn't step down as ceo of square >> that's right. look, there's no doubt that in a lot of ways being ceo of a platform right now is not a fun job. there are going to be more hearings there's legislation moving through europe right now that's going to put some really onerous requirements on these platforms. i can definitely see jack wanting to step a

>> los casos de covid-19 diecinueve se paran en todo el paÍs en estos semana de c celebraciones por cto al perÍodo anterior, el coordinador de la respuestael dÍa de a acciÓn de gracias. en las Ú Últimas dos semanas ha habido u promedio de mÁs noventa y tres mil infecciones lo que rep representÓ un aumento del v veintisiete por ciento respecto al periodo anterior. el coo coordinador de la respuesta al covid-19 de la casa blanca ha dicho que estados unidos no necesiten poner una cuarenara p encontrÓ la el covid-19. el aumento enta no cerrarse economÍa para afinar frenar la expansiÓn del virus Íi se ha informado que las vacunas como refuerzos, tratamientos para los millones de viajeros en el feriado demo son las mejores herramientas para poder co controlar de covid-19 el aumento de los contagios del covid-19 es uno de los recordatorios de que la pandemia si aquÍ muy present e importante para los millones de viajeros que para muchos se encuentra en el viaje de acc >>iÓn de gracias a lo anterior al coronavirus. >>> la mascarilla siempre, es muy importante >>> efectivamente se es

has been cto since 2017. it's the same cast of characters running the company, the question is what happens next. and brett taylor is a long-time silicon valley figure. >> can you tell us more about dorsey's successor here? >> not much. not many people know about him. a very nice guy, sort of in the background. other executives have had more visibility such as vincent gaudy, which is the chief counsel there and has done a lot of chief decision making on that front, which is where the focus has been. they went a tech direction versus a media direction. they had a former president or ceo that was more of a media director. they made a lot of advances in technology in the past year, improvements of products. that's been a complaint about twitter. one thing that's critical is many people think this company is deeply undervalued. the price has gone nowhere since 2014 while other tech companies have soared. people feel this is an undervalued asset given the impact. you'll see some action here around this company. es

square have been doubling down on cryptocurrency and the person who is replacing jack has been the cto of twitter and also worked at twitter for more than a decade. what does this promotion of a technical insider tell you about the future of twitter? >> this is someone who has worked with jack for the past six years and has been at twitter for 10 years. i don't think it signifies that significant a change in direction. he is very technical. he is yet another of these high profile i.t. graduates running another silicon valley company. he has tweeted very infrequently. a sort of surprise imputed will be interesting to hear what his vision is. you mentioned the crypto project at twitter. he has been running that. it has always been unclear what that means for twitter as a product. david was making this great point about facebook and mark zuckerberg and this pivot into the metaverse pit there is an argument to be made that sometimes the only thing worse than doing that is not doing it. twitter has remained fairly stagnant. fairly the same over the past five or six years. we will be interes

. >> san joswae ter cusmetors, cut back and conservbee cause n iowt will ctos you. the late-ghnit approval by state gulators a,nd what ts himeans for yourat wer bill. >>am dp areas for your comtemu. abc 7 news1: 100 startnos w. nouncer:ui blding a ttbeer bay area, vimong forwa, rdfinding sotiluons. is is ab7 c news. >> a magazine fador real in pieondmt has mbeemrs of the commituny hurt and ntwaing swers. the ad drinawg attentn ioto the commituny's demraogphics and comparinitg to neigorhbing ties. od evening a tndhank youor f joining us. >> abc 7ew ns reporter kate larsen has reaction from eth commituny and thpue blisher. >> for 43 years, they heav served as san francio scsociety pas.ge it is a monthly spltae on city doorsts.ep but the re ealstate advertising sectionam ce with prleobmatic lauangge. shock.ed i wasik le, is this is this really real that this uld be hpeapning in 2020 when after alwel have be tenhrough? >> the pdmieont seconti post was on sociamel dia. it sd,ai t cheity is surround bedy olaaknd, but is rlds apa.rt amgon its 11,2 00hundred 70 resides,nt 7

the cto is replacing him. tom: the fact that jack is stepping back and off the board suggests he must have significant faith in the new ceo. a focus on him and on what jack will do after this. dani: can we expect more crypto related tweets from dorsey? tom: maybe some more volatility for cryptos. twitter is underperforming. easyjet ceo says the omicron variant has had an impact on short-term demand but has not derailed. >> it is not at the same level of downside that we saw previously. what will happen is it will take 3-5 days and it will settle out at a certain level. we are monitoring to see when that -- what that will be like. the effect we are seeing is very much on the short term. some people are transferring out their bookings. we are seeing the most affected is probably city to city destinations. holiday destinations are still holding up as our domestics. that is like the previous time we have seen. >> in the worst case scenario where omicron does lead to more travel restrictions on lockdowns, how will

cto takes the reigns from here. dorsey, by the way, will >>> stick to the bikes and treadmills. lululemon and peloton going head to head in court. today, lululemon filed a patent lawsuit against peloton saying peloton copied designs of its sports bras and leggings. suit comes just days after the -- peloton goes on to say the merch it has doesn't look like lululemon's and that lulu's designs are too obvious to even merit patent protection. >>> okay. gotten your christmas tree yet? prices are up. climate change and supply chain issues are being blamed from the sticker shock. unusual heat waves dried out trees in oregon and wildfires burned through some farms here in california. and then, there's that supply chain problem. the cost of trucking the trees has doubled in some places. pro tip here, just go out and get your tree early. >>> all right. tonight, some disappointing news from the 49ers and some really good news for the warriors. we will show you what' >>> okay. it's a fact. suddenly surging 49ers have a lot of people excited but late today, a little bit of downer from head c

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cto takes the reigns from here. dorsey, by the way, will still run his other company square. we are back in a moment. >>> catalytic converters are a hot commodity, can cost you thousands but there are steps you can take to deter thieves. we will explain when nbc bay area responds. >>> plus, we are tracking warmer than usual temperatures. join us tomorrow from 4:30 to 7:00. this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom for me and you ♪ (music) ♪ so i think to myself ♪ ♪ oh what a wonderful world ♪ >>> stick to the bikes and treadmills. lululemon and peloton going head to head in court. today, lululemo

is not a known entity to the street typically certainly had access to the cfo and the ceo but as a cto typically didn't really get a lot of air time with investors or with sell ciders so he has anything to prove and hiding somebody from the inside tells you management and the board trying to keep continuity it's interesting see if that's what's needed or not. >> what is the problem with twitter? it is odd. we use it constantly we see politicians and everyone who's an influencer in the word use it why do they have a problem with engagement and user growth and monetization >> you said it it is about user growth. when it went public everybody looked at facebook as the company to emulate and facebook today is sitting at 3 billion users across the portfolio of companies and this is less than 200 million users worldwide. so that's on the users and engagement on the engagement side, by the way, looking at third party data the average user spends a few minutes on the platform. and that speaks to the product that speaks to the level of engagement the products warrant and just tells you up until

he will be replaced by the social media giant's current cto, parag agrawal. mr agrawal joined twitter in 2011, and has been the firm's head of technology since 2017. our north america technology correspondent james clayton has more from san francisco. in many ways, jack dorsey was the kind of archetypal stereotypical chief executive in silicon valley because he is a hugely wealthy and very, very rich man. he is a multibillionaire but you wouldn't necessarily know it from looking at him because he is a hippie at heart, he wears tie—dye t—shirts, and times he has this big, long, wizard like beard and he is fundamentally an idealist at heart and believes that tech can change the world. certainly with twitter, the company he co—founded, it did change the world. it has completely revolutionised the way that politicians speak to voters. the way the public gets it information and news. perhaps its most important and famous twitter user over the years has been former president trump. he was an expert at using twitter are bypassing traditional media, and was a h

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facebook's own cto has warned about harassment as an existential threat in this new world. of course there is concern the worst of society could get replicated in this new world. you were early in thinking about this, what have you learned about creating norms and healthy behavior in the meta-verse and making sure other companies do the same? david: it is super important. within a month of launching roblox, my co-founder and i built our first little civil safety system and we manned the moderation cues. now it is our top priority. we have thousands of people, 24/7, keeping it civil and safe. we have an amazing group of creative people on the platform, many of them young. we are very proud of how much we have worked to make this a place where people can come together to be with their friends and do things. it is the foundation of our company and we have no tolerance for bullying. emily: you see big potential for education in the meta-verse. you were trying to get 100 million students engaged. can you give me examples? does this mean we can visit for income -- foreign countri

square have been doubling down on cryptocurrency and the person who is replacing jack has been the cto of twitter and also worked at twitter for more than a decade. what does this promotion of a technical insider tell you about the future of twitter? >> this is someone who has worked with jack for the past six years and has been at twitter for 10 years. i don't think it signifies that significant a change in direction. he is very technical. he is yet another of these high profile i.t. graduates running another silicon valley company. he has tweeted very infrequently. it will be interesting to hear what his vision is. you mentioned the crypto project at twitter called the sky. it has been a serial -- ethere al. it has always been unclear what that means for twitter as a product. david was making this great point about facebook and mark zuckerberg and this pivot into the metaverse. there is an argument to be made that sometimes the only thing worse than doing that is not doing it. twitter has remained fairly stagnant. fairly the same over the past five or six years. we will be interestin

it's a comprehensive cto and it is the product of work like i said from 2014 until this january. next to the police commission approved this cto until 2021 but we are still waiting for rollout so now we're looking at november and itstill hasn't been rolled out . there's no training that's been implemented. it hasn't been effectuated. it's just a standstill. the last update we have is there's no real timeline right now and that it simply waiting for discussions with perhaps a poa and maybe laborrelations . we don't have any timeline for the rollout but that's an example of a big project and comprehensive training that would benefit all that comes to contact with the department and that means every survivor who calls 911 or who reports an incident after that and these are survivors that need assistance in theforms of emergency orders, domestic violence restraining orders in family court . they get referred to services with child abuse and a variety of other shelter services, basically emergency response from the police department and we are still waiting for that rollout and we hop

no reason for his resignation except to say he believes the company is ready to move on, and twitter cto will take over the helm and he's been with the company for more than a decade so he understands the back drop of all that happens there but the change could be due to the fact that the stock has been a serious laggard, year-to-date twitter lost about 23% while the nasdaq has gained 22% over the same time period. elon musk just got an early christmas gift. paper gains of $12 billion from today's four 1/3 percent bump in tesla shares, they could begin model y production at its berlin factory within the next few days and if you're waiting on your tesla delivery musk tweeting this afternoon that "the company 's end of quarter delivery blitz will be very intense" just slightly less than in the past. overall, ev makers are benefit ing from a rotation back to riskier assets at this hour, so you look at kanu, lucid, rivian all moving higher, biggest jump of nearly 7%. it is still, however risk offer u.s. casino operators after los ing ground friday when the new corona virus variant omicron hi

the former cto part of blue sky and also building out abilities to make crypto payments through twitter. >> steve, you said that he may well focus more on crypto in his new role is that your understanding, or that's your speculation. >> that's a speculation based on what we know he's interested in. itis it's notable the memo he sent out to employees today didn't really explain why he is suddenly resigning from twitter other than to say it was his decision alone and he has the pieces in place now with this new ceo and brett taylor from salesforce as chairman of the board to really run the show with him out of the way. >> i have been wanting to say this all day, i don't know jack -- i don't think anybody really does. but this was not really anticipated. was it or was it? >> it was kind of a surprise because if you remember over a year ago, close to two years ago now elliott management was pushing for jack dorsey to leave. they came to a settlement. and now a year and a half, almost two years later elliot is getting what it has wanted. >> so we are waiting now for the president to come and

so it is not unusual that investors may not know a cto or a chief marketing officer. look, historically there was a chief revenue officer that was pretty well-known at the company. so we will get to know him, but, again, if we are just trying to understand the immediate, you know, kind of reaction in the stock, perhaps investors would have wanted a more broad search that would have looked at candidates outside the company >> all right jason, we will leave it there. thank you. >> thank you >> jason helfstein with oppenheim. >>> next, will the omicron derail the fed's next move >>> as we head to break, look at the ev makers. another ev maker is on its way to the public market with phoenix motors filing for anpo i this morning, another name to watch in this crowded space. be back right after this what the world needs now... is people. people who see energy a little bit differently. where a switch to cleaner power means a more resilient grid... ...with renewables and gas power providing energy whenever it's needed. because seeing a more sustainable world isn't far in the

guy and a good cto. the lessons were invaluable. john's word is his bond and he's always the voice of reason. when i first got the cable hall of fame call from michael willner, a few thoughts quickly crossed my mind. first, how long have i been doing this? whew! a long time. and second, have i accomplished what i set out to do. early in my career i followed tech that interested me and it kept me moving forward as a way to meet the blackley needs, pizza and beer. as i advanced my career i added sausage and the beer was now imported. i didn't realize when i followed tech to a job in cable how this ever-changing industry would captivate me the rest of my career. i then thought of those close to me who have been inducted, names like rutledge, bickham, bergman, werner, many others. those inducted have real legacies and i hope i'm bringing something to the table too. you know, less than 150 people have been inducted into the cable center hall of fame. by the numbers, this hall of fame is more selective than cooperstown and canton, which g

it's an interesting choice that you have the cto stepping in. there's been a underperformance compared to facebook over the last few years underperformed this year since facebook is up 20%, twitter down 15% twitter has 200 million users. david: is not because facebook is better monetizing than what they have at twitter. >> yes i would say there have been very strategic in their acquisition like whatsapp and oculus. they have been very good at buying instagram and getting more users on board were twitter this is the reason why elliott management has pushed for leadership changes he hasn't been that strategic. david: he knows how to make money with square is not that he doesn't know how to make money. susan: the vote conference where, through jack dorsey they want to behold (congress be when they want to target on your back. >> strategically he said they don't need to feel without somebody's trying to push me out about my well comes from somewhere else they wouldn't fascinating man what you get interview with him? susan: politics aside i think we

he's been the cto and is responsible for technical strategy, leading work they say to improve developmental velocity, while advancing the state of machine learning across the company. and he has been, again, at the company for over or roughly ten years. there had been speculation on this desk, of course, carl, that, you know, long-time cfo ned segal would be in the running. no word on him in this press release. >> they make note of him being the company's first distinguished engineer for his work a couple years ago in accelerating audience growth, 2016 and 2017. no changes to guidance for the quarter or year or its 2023 goals, david that's where it's really interesting. their long-term target on the user base is something that the bears have been scrutinizing heavily. clearly they're going in a direction they will lean on technology to get those numbers up. >> this is effective immediately. so jack dorsey is no longer going to be the ceo immediately and has been succeeded by mr. agra wahl. we'll see what the response is the stock once we reported that mr. dorsey was expected to step down, l

. >> >> the cto, made some comments in the past that he is more about protecting the safety if you will in the public forum as opposed to the first amendment. do you expect him to, let's say, allowed donald trump back? >> it is part of the san francisco culture, make the public square public, that is part of the culture inside twitter. and culture. >> the culture is how do they increase, and twitter shares struggle, and "the opening bell" is ringing. and the s&p and nasdaq. it is walgreens, they are up a nickel. it is down 2% and the dow itself, 290%. and the s&p 500, and the nasdaq is doing the best of it. and and as the 10 year yield go down, the moderna ceo, this spooked the market. what did you say. >> going against pfizer, talking about the effectiveness of the oma cron variant was moderna's ceo saying the current vaccine won't be as effective, may not be ready that soon. the ceo saying it is antibody cocktail doesn't mean as effective against the new variant, some off in both stocks. they are a bit more optimistic, 100 days and already working on it. depends on who you believe dep

the j&p securities saying quote by appointing its cto, we believe twitter has continuity with it existing product roadmap as it continues to work towards its goal now with twitter shares down about 25% in the past three months, the pressure is on for a handful of new products. the first is topics with engage him enable brands to create more personalized ads then there is also shopping it's the company is investing in ecommerce capabilities and partnered with walmart ahead of the holidays finally, twitter blue. that's the company's $3-a-month feature just launched here in the u.s. now agrawal and salesforce president and ceo got a blessing from activist elliot management who said they are the right leaders at this pivotal moment guys, it's hard to overlook all the other things of their rivals such as facebook and snap are doing right now. >> facebook and the parent met surface they told meta it has to sell the gift-sharing platform giphy. the deal could actually harm users and meta says, though, it disagrees with the decision and is considering an appeal >> what is so important is facebook