tv Tech Check CNBC September 17, 2021 11:00am-12:01pm EDT
>> all the major averages poised for weekly losses as well. that is going to do it for us on "squawk on the street. "techcheck" starts now ♪ good friday morning. welcome to "techcheck. i'm carl quintanilla with jon fortt and julia boorstin coming up this hour strange comments out of instagram on the dangers of social media. it'll get an explanation of that backlash coming up plus, mark cuban wants to make crypto a little less anonymous his take on why regulation built around existing fraud laws makes sense. later on elon musk kisses up to china. morgan stanley's adam jonas weighs in on tesla's prospects jon? we'll start with stocks on the nasdaq coming off its first
up day in six still closing in on another record despite the recent weakness although all five faang names and microsoft in the red today dom chu taking a look at those stocks that have not followed the rest and are going the other way flirting with their 52-week lows >> jon, because not all of those technology stocks outside the real mega cap names have participated in the recent rally, at least in the last six months or so we wanted to take a look at some of the bottom feeding type stocks that have not participated but might still have upside potential. the reason why is if you look at the technology sector communication services versus the overall s&p 500, tech is roughly in line. that orange line, can it keep going, that recent down trend here as you pointed out is a bit of worry we took a look at the screen looking at s&p 500 technology and communication services companies. by the way, there's roughly 96
of those total among the two sectors. how many are within 10% of their 52-week lows believe it or not, only eight stocks passed that and we looked among those eight stocks that were the highest target prices could be to see where there could be upside. check out the three names, these are the ones that could have possibly some huge upside potential. activision blizzard, down 16%. roughly 39% upside potential to average analyst target prices. it's lost a quarter of its value. and roughly 36% upside for fellow video game publisher take two interactive on a year to date basis it's interesting that both the video game publishers take-two is among the worst performers. look at the downgrade from bemo capital markets of some of the publishers like take-two
interactive saying some of the factors like sentiment around publishing when it comes to video gaming in china as well as some of the esg-type elements, the types of content video game publishers put out could be head winds for the multiple going forward. so, julia, watch those names and, by the way, if you're looking for the other five, i've put them up on twitter back over to you >> we will check that out, dom thanks so much now let's turn to facebook internal documents coming to light earlier this week showing how toxic instagram is for teens, especially girls. now instagram's head facing backlash after comparing social media's value to that of cars. saying, quote, we know that more people died than would otherwise because of car accidents but by and large cars create way more value in the world and they destroy. and i think social media is similar. another report out of "the wall
street journal" details how facebook employees have flagged severe misuse by drug cartels, human traffickers and others the company's response in many cases has been weak or nothing at all the repeated negative headlines perhaps weighing on the stock. it is down this morning along with the rest of big tech. it is down about 1.5%. guys, just a drumbeat of negative headlines this week jon, i have to think what distinguishes these articles and exposes is the idea not only is facebook responsible for negative things but they knew about it and didn't act soon enough >> well, julia, is this really that different from, say, cambridge and alytica said there was no impact facebook had and ended up having to walk that back every time there are headlines like this, because we're cnbc, i
always think, why does an investor care? why does an investor care really i think the question, does this indicate a level of willful blindness in facebook's leadership that could be detrimental to facebook's strategic planning on product or policy where eventually this bites them hard? >> well said, jon. i have to wonder, we're not human dollar signs people consider the share price along with all the extras companies bring with their business models. >> yes, and you have to wonder whether facebook will have to make changes to its algorithm that would lead it to be able to make less money because it is pushed by regulators or public pressure to be less addictive especially for those younger users, carl. >> and, of course, anytime you compare your industry to the car industry, which is regulated from top to bottom, that's going to obviously create a very easy answer back.
in the meantime, elon musk did praise china's automakers as, quote, the most competitive in the world, at the new vehicle conference >> i have a great deal of respect for the chinese automakers driving these technologies my frank observation is that chinese automobile companies are the most competitive in the world. some are very good at software and the software will most shape the automobile industry. >> in their latest note on the auto sector, morgan stanley notes tesla's more than just an automaker. that out of our $900 tesla price target, only $350 is directly related to the manufacturing of evs. joining us this morning the author behind that note, adam jonas, covers tesla and others as the head of auto and shared mobility research. adam, a pleasure to have you back >> hi, carl. >> i love your note today and the bid and the range record your general point is get ready
for a decade of records as that r&d number is almost too big to fathom >> yeah, carl. we think this is the barn storming era, emile earhart setting records. just aimed at batteries, carl. it might be double that or more when you look at the whole ev system you compound that over a decade and, man, we don't know where it will end up. the whole battery system is still very much maturing and not taking anything away love the car it ripped my face off on the west side highway a couple months back. careful of declaring victory too soon this is a marathon. >> you do layer your conversation regarding lucid at least with a question of whether or not range makes you sacrifice
other things like safety, for example. i wonder, are you a little suspicious of the market's apparent thirst for extreme range? >> range is important but it's not the only thing it's cycle, repsychscycrecyclaby how redundant the supply is, the speed of charging. so range is very important, don't get me wrong, but we wish there was more transparency how big the battery is i'm sure that will come out. lucid has cool technology where the battery is not just in the bottom but other parts of the architecture of the car and that's great maybe we look back, carl, five or ten years and say, wow, why did we even have these giant batteries, these giant, massive batteries when you could fast charge in a minute or two and have a smaller, more sustainable charging network that obviated the need to carry all that energy with you.
does that make sense >> yeah. >> yes, adam, i want your take on that sound we played from elon musk and why he might have said it. chinese automakers are the most competitive in the world isn't that demonstrably false? i don't see their cars on the road in the u.s. when i visit europe on occasion i didn't see a lot of chinese cars on the road there they may be innovative, maybe. i don't know because i don't see them they're not globally competitive. >> i think it is not demonstrably false i think elon is right actually right now in real time in the u.s. out of the three u.s. automakers there's only one vehicle that's on sale produced right now. that's the mustang that's made in mexico. gm is having issues with the bolt and others. there's just nothing else there. when you're talking about the biggest electric market in the world, i think he's right. i think what he's trying to
convey is beijing and elon need each other right now in different ways we think beijing is in control of that relationship and as the car becomes connected and essentially a dual purpose robot operating in a natural monopoly, elon's national security clearance is higher than yours, higher than mine, so he knows how this is going to end up. he's allowed to operate there for now. but eventually -- >> i wonder is that the real truth behind what he's saying is here's the ceo who needs to do business in china who knows how to talk to the powers that be in china? >> i think that's part of it i get a little concerned when i hear people say a u.s. firm can have 50% of miles traveled and a robotic network as long as they keep the data in china jon, you're a tech guy let me ask you, and you look at sensitive industries, can you imagine a chinese ai robo taxi,
whatever, network operating in the streets of chicago telling the united states we promise to keep the data in illinois. is that realistic? >> it's about as realistic as a u.s. company saying the same thing to china it's less realistic. your point is very well taken. yes. >> when you're selling a dumb hunk of metal that doesn't even know what time it is, then can you have a consumer product with a foreign presence when it becomes connected, you know where the party member is and where their wives and children are going and the movement of the supplies and military equipment, all right this is a utility now. and i'm not trying to single out china here we think germany and france and other of our allies as well will be very concerned about foreign presence and so you get this regression we think it's why we're bearish on the ev market it's competitive we think the pace of investment
is growing faster than the tam the market is more fragmented. it's a crowded, smaller room than we think people realize >> speaking of how smart these vehicles are, i have to get your take on semiconductors the auto market is still constrained, held hostage, i think was your term, by semiconductors how do you see that playing out and how does that impact the competitive situation? >> we probably won't be talking about the semiconductor shortage in a year or so. but, wow what a wake-up call a. renewable country or a renewable planet and to get off oil, the last thing we want to do is have our supply change vulnerable to disr disruptions, natural occurrences and disasters or otherwise shame on us if we build that stuff. i think the bigger picture is controlling our own destiny appropriately onshoring or
building redundancy in the supply chain we think is a wake-up call maybe another one we have too many semiconductors in cars. you asked today's auto industry to design something and maybe we're over complexifying and you can be more frugal versus the network and the software we do think that just like chip shortage snuck up on us, we think the alleviation of it will sneak up on us and you're going to be talking to dealers that will be on your program saying we went from zero cars to cars we're getting chips. i think you'll see pricing in the used car environment might be a different story >> finally, adam, we had you on in late february at the time your quote was where are all these batteries going to come from? that's our number one question right now, to be honest.
ford yesterday and these reservations for the lightning, are they going to be victim to the same sort of battery crunch? >> i'll touch on tesla with that answer, carl tesla -- i guess the analogy they're like the mechanical white rabbit at the dog race you're never going to get the rabbit you just hope you're the fastest dog. he's vertically integrated into batteries before it was fashionable. people are like that's a horrible use of capital. he's building and controlling his own destiny. he doesn't want to move at the pace of conglomerate in a foreign country somewhere. he's doing it here and will let it be copied elsewhere i think there will be shortages not just in amount but where it is produced, how it is produced, how it is recycled, how clean it is and so you have to think along those levels and he's in pole position there and that will matter the industry is facing this
exciting time. this is a historic moment and there's money to be made but a lot of these startups are entering -- it's easy to compare yourself to elon and tesla it's hard to compete against him particularly when you're entering the riskiest part of launching and wrapping production a very risky time. >> certainly reflected in market caps as well adam, good stuff today appreciate it very much, adam jonas, morgan stanley. what if larry ellison's latest obsession weren't an island but the hottest social media platform going or if jeff weiner were not only still at microsoft but running tiktok confused well, coming up the first installment of our new "what if" segment on alternative outcomes in the multiverse. stay with us it's another day. and anything could happen. it could be the day you welcome 1,200 guests
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bmo down grading take-two this morning cutting the price target down to $150. says they're less confident in the stock after a series of game release delays and the pressure from chinese gaming regulations. shares are down over 25% since the start of the year. and now cyber security and the threat of ransomware is top
of mind. "the journal" reporting the biden administration is preparing sanctions to target crypto ransomware payments our next guest's stock is one of the beneficiaries of the boom in 2020, although shares have since given back half of those gains this year. with us now on the state of cyber, kevin, good to see you. the actions the government has taken thus far on this sufficient >> well, you know, we're all playing defense and we've been doing that since ransomware did an uptick around 2016. when you look at ransomware with the proliferation of digital currencies you have anonymous currency you profit from that escalated the growth to pandemic levels and intolerable levels we are seeing the u.s. look at how do we respond as a nation, how do we impose risk and consequences to the actors behind the ransomware attacks
we're seeing >> closer to home i want to ask you not just about the macro but about fireeye mandiant in particular, sort of selling off. i've been hearing from some investors concern that the price is too low so as that process continues how are you fielding those concerns especially given the value of some of these assets out in the market these days that other companies have >> sure. first you have to look at we had a process -- we had goldman sachs onboard and got the best offer we got, and we have to move forward we have a mandiant brand, the best at respond to go breaches and what to do about it. an intelligence grid in the private sector, over 200 that speak over 30 languages in 20 countries trying to figure out beyond the tech who is doing
these attacks, why are they doing it, and how do we impose risk through diplomacy and policy the bottom line we had to segregate our business of controls with fireeye products with controls agnostic mandiant because people want that brand protecting them and we wanted mandiant to work with the different control products not just fireeye by decoupling the businesses, it's better for both businesses, jon. >> looking at the rising threats, how important is the idea of creating an international consortium to create some standards for how these threats are addressed? >> well, you have to band together everybody is sick of ransomware. and i'm hopeful we'll come up with rules of engagement or rules of the road for criminal actions. we have a global economy so that means you have to behave a certain way as a nation to be part of that global economy. and so i think you're going to
see nations band together and do their best to impose risk and consequence to ransomware actors or the countries that harbor ransomware actors. i'm less hopeful we're going to agree on rules of the road for cyber espionage because the asymmetry period is advantageous to some nations. i'm speaking to that asymmetry and cyberspace where most nations cannot be, if any nation, they can't tackle the united states with tanks, guns, planes, submarines but in cyberspace it's more equal footing and maybe even there's an advantage against the united states in the cyber domain so the bottom line we need rules of the road. we need nations working together to agree to enforce those rules. >> thank you >> thank you is the entire elizabeth holmes trial an exercise in sexism and does it say more about silicon valley than the vilified founder of theranos?
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near the bottom of the hour, i'm carl quintanilla with julia boorstin and jon fortt the nasdaq is coming off its first up day in about six still near the record close although on pace for another down day so far on today's trade as options. let's get a news update with rahel solomon. here is what's happening this hour. an fda advisory panel is meeting today to consider whether a third shot of pfizer's covid vaccine is safe and effective for people 16 and older. if that group says yes, then the fda approves the shot it will be up to the cdc to decide when they should get it pushing to make boosters widely available but many scientists doubt it's needed. the treasury department is planning on making it harder for hackers to use cryptocurrencies.
the house will vote next week on whether to suspend the debt limit, although it's unclear if it will be a stand alone bill or if it will be attached to a measure funding government operations. and the white house warning that if congress doesn't do something and the u.s. faults for its debts the economy could fall into a recession just as it's recovering from the pandemic jon, back to you >> thanks, rahel a parallel universe where tiktok is owned by microsoft we'll consider that next and explain after the break. "techcheck" is back in two jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday. what do you mean? it makes it easier to develop great relationships with our suppliers. now everyone, everywhere loves jerry.
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we are kicking off a new series looking back on some of the biggest moves in the tech industry and acting what if things had gone differently, hopefully exposing key strategic moments in the process today's topic, tiktok. remember president trump's short-lived ban. what if that had actually been effective and tiktok had sold its u.s. operations to microsoft? >> try day, september 18, 2020 in a move horrifying gen-z, the commerce department actually bans tiktok. apple and google remove it from their app stores traffic plunges. the company is in crisis mode. so what if tiktok parent byte
dance in talks with microsoft immediately agross to sell kevin mayer, worried of being a lieutenant again after his clashes with disney still resigns. what if satya nadella and jeff weiner runs tiktok instead would tiktok grow faster, capturing market share does microsoft hit a $2 trillion market cap for context we're talking billions of new dollars. the ad revenue totalled more than $84 billion and what if the deal faces little antitrust pushback. across the globe, beijing angry over losing one of its hottest internet properties begins its tech crackdown a year earlier scuttling the didi ipo before it happens instead of after with trillions up for grabs, it's important to ask what if? >> forcing us to ponder. carl, we are the watchers at the moment
i worked with the team a little bit and there was a key moment when former president trump gives this 45-day window before the ban goes into effect what if there hadn't been 45 days, he goes immediately, i think jeff weiner would have been an interesting choice i think microsoft dodged a bullet tiktok like issues and microsoft might have been in jeopardy. >> if it's good enough for marvel, it's good enough for us. i like the way every franchise fortt delivers is some kind of existential play >> a lot of questions here tiktok's revenue would have grown fast er and could have
rolled out more features the challenges instagram is facing with teens, tiktok would have been under more scrutiny when it comes to the younger users and the power of that algorithm and whether that would have to make a lot of changes. >> i have to say in alphabetical order, with the team for carrying the ball on this one. they worked hard on it i think a key part is this feels to me like a moment when china's regulators was awakened to the u.s. market threat that's why that thread on didi follows through and i wonder if some of these actions that we've seen would have come sooner if china had really lost something of that scale.
>> it is fascinating we talked about this with jonas a moment ago reflects the overall geopolitical situation in which the u.s. and china find themselves in, julia >> you have to reflect on the antitrust question as we see greater antitrust scrutiny on the social giants in particular and even a shark finds crypto's open waters a little too unnerving. mark cuban's tweet storm on regulation and fraud is next don't go anywhere. ♪ music playing. ♪ there's an america we build ♪ ♪ and one we explore one that's been paved and one that's forever wild but freedom
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her accountable when you're not holding others accountable isn't fair explain your thesis here >> elizabeth holmes should be held accountable, called out for faking test results and has been indicted for that. her being on trial is a good thing for consumers, for investors, but this industry she's in, the tech industry, is sexist and discriminatory so it's no surprise that only a woman would be held accountable. my point is that we need to take this opportunity to look at the industry and decide that we need to actually hold more men accountable and we need to make sure that we're indicting and investigating and also as investors holding our ceos accountable. >> certainly the argument makes sense from an investor standpoint but i guess my question from a legal standpoint isn't the challenge that a lot of the behavior, though questionable, possibly unethical, was not technically
illegal especially some of the founders you mentioned >> i think there are standards we should be holding people to i think the standards we're not following through on them. if you look at juul, a company that sold flavors for kids juul went to kids and they were telling kids vaping is safe. numbers went up and for vaping in schools, for high school age and smoking use had gone down. you saw it was being replaced by kids vaping. it's a product similar to theranos, a product designed for consumers, it's designed for -- it's regulated by the fda. you don't see the juul ceo in trouble. you see the company is facing a bunch of lawsuits. but we need to be holding the ceos accountable for doing the same types of harm it shouldn't have to come to the
point where we're giving bad blood results, for behavior that can harm the public. >> ellen, your point is well made i guess going back to elizabeth holmes, do you think there's something about this trial or the way the media that is particularly sexist taking the other ceos and putting them to the side >> no, it's hard to say. i think a lot of what she's faced has been this hype, a lot of focus on her looks, on her behaviors, a lot of focus on her personal life. i don't in anything about kevin byrnes' personal life or the other ceos we know a lot about elizabeth holmes
there is something that is gendered about that. i just wish we were scrutinizing all equally and were paying this attention to the men who have been harming people and who are still getting away with it we've continued to invest in these men so kevin byrnes just started another job. his old company is facing thousands of lawsuits around the harm they've caused children and people i think people should be held accountable for the harm that they cause and i don't see that happening. elizabeth holmes shouldn't be alone in this category >> i doan think you have a good point because when i look at the
examples you give, we work, uber, facebook, tesla, they all actually have a product or service that does what it says it's going to do you could argue that uber is not -- the culture was bad technology that fundamentally changed transportation the same for facebook and tesla. what if this elizabeth holmes case is more like bernie madoff whose personal life did get poked into and examined for good reason she's on trial now and has not been proven guilty isn't there an issue with whether there's fundamentally a product or not >> when people invest, there is no product we're putting money into companies we're hoping are able to come through with a product
part it have is a problem with ven venture, this desire to believe people who have these amazing stories and huge visions and are charismatic. we need to have more funding come in. we need this ceo to continue to be charismatic and continue to over promise and we hope they end up delivering. in elizabeth holmes case she was not able to deliver. the business model still doesn't quite work we saw that with a product that didn't really do very much there is a question, is this product because it's in the medical world held to a higher standard than in all of these other companies where it's not a medical product, you're not testing blood, not holding people's lives at stake. uber had all these sexual assault cases from drivers
harming customers and they didn't do anything about it. i would say that's equally as bad as some of the harm being caused at theranos >> well, sure, from a moral and ethical perspective i would not want to minimize but uber is a $74 billion public company questions about the business model but as an investment at least it has played out as promised for a number of people. isn't it a stretch to compare theranos to uber >> i think this is where it could be -- you start getting into, well, why are we saying that this is so much worse one issue is the fact that it's in this medical arena which is more highly regulated but there are so many products that never meet what they've claimed to do. uber is starting to buy other businesses because they can't make the product work.
a lot of hype they will have carless drivers. every company has -- almost every company starts out one place and ends up some place else and we call that pivot. we don't end up -- and some end up doing things that aren't great. you look at juul, they wanted to stop people from smoking cigarettes but ended up getting kids addicted. it's something that people should know it's harmful they know it's happening and they don't do anything that's the point where you have to step in and you have to say you're not making good decisions. facebook has all this information about teens reporting suicidal thoughts, blaming instagram and they
didn't do anything about it. it's not enough to say you're making money for me as an investor you have to say, hey, weep need to put the brakes on this is not working. >> to jon's point, ellen, you're making these comparisons between uber and theranos and juul and theranos, don't you see any white space between sort of hr management regarding allegations of assault or discrimination or a working juul product marketed inappropriately and wire fraud, you actually see those things as the same >> i think every ceo makes these promises if you look at almost every business plan, people make promises there are companies that over promise. they promise a product that they didn't have. it happens all the time.
it's not a rare event. i agree it shouldn't happen. people shouldn't be lying to their investors. people shouldn't be misleading this is a time where we can say, hey, elizabeth holmes crossed the line but this is happening across a lot of companies and we need to be more careful. people need to be more honest. people need to stop. i don't think she's alone in making these grand claims and is not alone in not being able to deliver on them. >> certainly a very complex conversation we will continue to watch how that trial plays out ellen pao, thank you and watch ginkgo bioworks completing its merger listing on the nyse this morning. major shareholders include arc invest shares are now up about 10%. we'll be right back. today, global markets are challenging traditional
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been buzzy lately. opinion. on tuesday gary gensler told senate banking s.e.c. is working over time to create a set of rules. interesting thread, jon, from cuban. he does say stable coins will be the first to get regulated >> i can imagine the s.e.c. reading that and going is he for real might i actually agree with something we are doing i think, carl, in a way to tie this back to the elizabeth holmes question, julia, it's like how long do you let these promising, perhaps innovations run before it's time to stop the clock and determine whether they really are good for the people who they're supposed to be good for? >> yes, jon, and then i would tie it into the whole facebook question and the issue of regulation, this idea that regulation is inevitable and the sooner it happens the better for everyone involved to know what those guidelines are it all comes full circle here today. and meanwhile, miss part of
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so get an adjustable rate mortgage, the latest phenomenon in real estate is what else, artificial intelligence, diana olick explains >> this is an example of loan flow building a loan. >> this may look like a whole lot of nothing. >> as you can see, it's trying millions and millions of different options. >> but that's just because we can't show you the numbers it's new artificial intelligence, creating the perfect mortgage for an actual home owner, at least according to loan snap. >> we're building a financial model for someone and showing them exactly how much money they are losing on a monthly and yearly basis and then showing them how they could potentially fix that issue and save money in the future again, in seconds. >> it's just one way artificial learning is taking over real estate >> 95% of it is rhetoric rb right. it's a popular term. people glom on to things like that and say we use ai too
ai is actually machines thinking and/or looking at possibilities that would not have been looked at before. >> helpful for borrowers but the holy grail for real estate agents hunting for listings in today's ultraexcretive market. >> the traditional agent would knock on doors of a lot of homes. now a. helps you find the homes most likely to sell in 12 months. it does so by tryening lating the data associated with the home. >> he claims compass agents have a 94% higher chance of winning a home targeted with ai than note. agents can surprise the home exactly and targeting marketly specifically zillow upgraded the popular home price zest intimidate. claiming it using neural networks or machine learning comparable to how the brain works. >> ai allows you to go to the self-driving dimension, which is ai outsources the heavy lifting associated with a real estate
transaction. the complex data, compliance, the paperwork, the finding of the home, the negotiation, the offers >> and he claims artificial intelligence can conquer the most human component of any real estate transaction, that is stress we all know home buying, selling and financing are incredibly emotional events because for most of us a home is our single largest investment julia. >> so fascinating, diana i have to wonder, though, other than theoretically managing the rest, does this mean home owners will pay lower rates be lower fees what's the ultimate impact for the consumer. >> it's all about saving money, especially on the loan side. they are saying they can not only look for the perfect loan for you whether a 130-year first fixed, adjustable rate but also find investors for the type of loan you might need if you can't get a traditional conforming loan through fanny and freddy they can find an investor to buy the loan and keep the rate
lower. according to loan snap. >> who is most likely to end up saving the money it seems to me the person selling the loan, right, isn't necessarily incentivized to make sure the person taking out the loan saves money i mean, if you would take 3.8% why give you 3 the.7 unless you get a better deal somewhere else right? >> because it's all about volume it's an incredibly competitive market with so many lenders out there they need more volume. if they can say we can get more people in the door and get them more loans they are making more money by the volume of the loans they are doing and for real estate agents, of course, it's incredibly helpful to get listings because it's so competitive right now. we have a record low number of homes for sale they are going, you see the fly fliers door to door do you want to sell your home? they claim using ai they can find out who is ready to sell and target them to get those listings which of course makes the real estate agent richer. >> if that works as advertised
it will make a huge difference for so many people diana, thank you. now, you might have noticed we had news making interviews on tech check lately. the ceos of microsoft, amazon, google cloud in the last three weeks. but yeah not slowing we have a big one coming monday take a look. >> the fact of the matter is people eat 20 to 25 times a week from. >> from grocery restaurant. >> whether single, whether they're working in a fireman. >> doordash offers all of it. >> it's the fat fastest growing service in the country today. >> our founding mission was to make sure entrepreneurs like my mom would be able to compete in today's convenience economy my mom came to the country worked three jobs day 12 years one at a local chinese restaurant. >> you helped her out. >> i helped her out at the restaurant i did didn't do the glamorous stuff. >> is there glamorous stuff. >> fair point. >> doordash ceo 11:00 a.m.
monday another exclusive on "techcheck." so don't miss it carl, looking forward to talking to him. >> what a week, jon. and the weeks to come will be amazing too. we'll get as well some good housing data and of course the fed meeting looking for sharper guidance on the taper. have a good eye weekend. to the judge and the half. >> welcome to the "halftime report" i'm scott wapner front and center, the massive move from cash to stocks and what some stunning numbers suggest about the state of the markets right now. all of that as a number of firms grow bullish on your money we debate that with the investment committee joining me this friday. jenny harg harrington. jon najarian, the co-founder of market rebellion.com happy friday, everybody. checking stocks going for the first positive week in three there is the board having some work to do dow down 176 lows of day. 18 s&p down 0.75%. nasdaq down greater than