paypal turned out to be a gigantic success, later sold to ebay. what was your job at paypal? reid: when peter thiel and max started paypal, they each invaded their friend who most understood and had the entrepreneurial experience. that was me for peter. then after a year of being on the board, i was thinking of starting another company. peter said, no, come join paypal full-time and help us, because you have been helping us so much on the board and you understand this stuff and we have so much to, because paypal was an early blitz scaler. it's theory was that it would be a bank. that was not a workable theory. so we had a great customer acquisition engine, but how do you redefine the payments, with something that was in front of it even as it was exponentiating its burn rate. so i joined paypal, stepping off the board. david: paypal was ultimately sold to ebay for about $1.5 billion or so. you got your share of the profits and then became an angel investor. for those who don't know what an angel investor, as opposed to a devil investor, what is an angel investor? reid: [laugh

paypal with $340 billion company. carle, really good to see you this morning karl roessner. >>> coming up on "worldwide exchange," investors getting much more savvy about cryptocurrencies the questions they're asking could talk a lot about the future price performance first as we head to break, some of your other headlines. walmart is looking to hire 20,000 permanent workers for a supply chain operations ahead of the holidays the jobs include positions such as order pickers, freight handlers and forklift operators. >>> separately the retailer announcing it will offer grocery deliveries in parts of new york city through instacart >>> southwest airlines pilots are suing the company saying they're making changes without negotiating with the union. >>> cathie wood is preparing a new etf on transparency. we'll follow an index that excludes alcohol, banking, oil and gas. the majority of the etfs will be tech and consumer names such as salesforce, microsoft, apple, chipotle interesting there. we'll be right back. what if you

what was your job at paypal? reid: when peter thiel and max letson started paypal, they invited their friends who most understood and had the entrepreneurial spirit to be on the board. that was me for peter. after year of being on the board, i thought about starting another company, and peter said it no, join the board full-time. we have so much to do, because pay mail was an early blitz scaler. in theory, it was going to be a bank, and that was not a workable theory, so we had a great customer acquisition engine, but how do you redefine the payment process even exponentiation you to burn rate? david: paypal was sold to ebay. you got your share of the profits. you became an angel investor. what is that? reid: sometimes angel investors, entrepreneurs think, are devil investors. angel investors or individuals, usually with expertise in this area or knowledge of the entrepreneur, who invest in the earliest stages of a company, frequently from an idea on the back of a napkin or an entrepreneur just thinking about doi

paypal plans to buy and where shop online tripled over the last decade. transactions in that country still in cash. paypal a big pandemic winner stock up almost 60% over the last year while active accounts worldwide stand more than $400 million. overarching theme here, carls, seems to be these tech-ruled companies think they're a vision of the future. fintech, able to outweigh the leverage involved here, and potential economic shock, and -- you know, consumer always got to be careful here, and investors so far have been winning out >> yeah. definitely true. then julia, at least on the m & a so far, directionally, these appear to be paying off. interesting to me. i'm sure just anecdotally on this particular program the frequency with which we are talking about buy now, pay later, definitely growing. just in the last couple months. >> i think, carl, we've also seen usage of buy now, pay later also growing the thing to watch here is massive consolidation ins space. we are going to see these mega fintech companies and the fact this is a japanese company point

to add new features to let users get their paychecks early, stepping up competition with banks and paypal. we will tell you more about their plans. apple mandates all u.s. employees report their vaccination status, whether the office or not. it is one step short of requiring vaccines but one step closer by an aggressive campaign to help stop the spread of covid. the pandemic has sparked a worldwide mental health crisis from children, grown-ups, seniors. two wellness companies are joining forces to combat a different kind of pandemic on the home front. we begin with headlines. the u.s. department of justice preparing a second monopoly lawsuit against google over the digital ad business. this, and addition to the antitrust case looking into google's web search business. for more i am joined by mark, but to be know about this pending case, and how does it differ? reporter: the main difference -- what we know, they have to looking into this, preparing a case potentially by the end of this year. the core difference is the first case looked at google search and it's deal with apple. this is foc

. >>> and betting on payments, jpm and paypal announcing some new deals in that space. we'll get to it. first, jim, great to have you back after a long absence. >> thank you so much. >> i know you were talking about the sell side desks that were cutting their targets for the end of this year or next year. >> bank of america is probably the most threatening this may not end now but when it ends it could end badly. when i read that what it does is basically says september has been weak historically not a good month at all. october has been a bottom. i think a lot of people are trying to anticipate that. if all the strategists anticipate something, it tends not to happen. while i am understandably cautious because the month has not been a good month, you know david, one of the things we've learned about the strategists is if they speak in unison, perhaps we should be worrying about something else. >> typically it may already -- the concern may already have passed >> well, we know that a lot of stocks -- the s&p obviously has not had a very big turn. >> no. >> in a long tim

is the guy at paypal who solved the fraud problem. so you're right that i think the critical skill set in this space is the ability to underwrite a credit decision and be able to stress test those decisions against all future possibilities like a sudden down market, that is the key skill set here. i'm confident in max's ability to do that. >> i want to go back to the app that you created in social audio. are we seeing the difference between a good social app and good creator tool? because disappearing content is great if you're a teenager, but not if you're a creator. you created it on purpose and you want it to stick around. is this a problem for companies, apps like clubhouse, still into -- it is why we see linkedin getting into stories, because if you're on linkedin, you want your stuff to stay there. >> i think the social audio space as it has been conceived bit founders in that space has been very focused on, like you said, ephemeral experiences, live experiences and i think that's great there is a place in this world for the onl

. >> what i wouldn't leave out is actually paypal. paypal is knew to the bnpl game. but paypal has huge advantage of incumbency, they are literally at least 10 times, if not 20 times larger than these other alternatives. even though they're offering maybe later to market they have the benefit of having a huge install base to sell through. charles: right. that makes me think, i know there are some big private names that are maybe in the ipo chute, perhaps even, with that in mind why aren't these big banks, like mastercard and visa why aren't they making acquisitions? could all of that stuff come together? >> yes they could. we wouldn't be surprised to see, we saw yesterday actually goldman sachs through the market division, the new consumer finance division of goldman buy green sky which is one of the smaller players in the market. there are a number of other smaller players. sesal is another one for example. we wouldn't be surprised those pretty subscale, be acquired. they have more lending component to the model. clarna has more credit exposure. natural acquirers wo

and i'm out of paypal. but, the kpet competitor to paypal with the cash app and big are focus on digital assets like bitcoin is square. and that's the one, brian, i really like right here nothing wrong with owning some of these minors as well. i mean, just take a look with bitcoin trading through 50,000 again, we're seeing a lot of interest in mara, microstrategy, in btch and so forth, all of these different players in the digital asset space, even though of course many of us used to believe that microstrategy was something else now they've got $5 billion in bitcoin it's a bitcoin play. hut 8 as well. hut, i think all of these are interesting plays into the year end, brian because in 2017 i'm sure some will say, doc, but we broke down right after 2017 correct, but bitcoin had a run from the fall that carried it from basically 3,000 towards 20,000 i'm not saying we repeat the exact same pattern, brian. but we certainly are setup to do very well over the next three and four months. >> jon, quickly, switch- et

has globally. -- than paypal has globally. we are not just talking about access to data, but people who said, we are going to be the world leader in understanding -- so what about this data? you can have lots of data and if you can't parse through at, then it is not really concerning or impressive other than a general liberty. the point is if you are talking about people who are saying, when it comes to 5g, we would like to lay the infrastructure for a 30% discount around the world so we don't even have to hack into your telecommunications, we are just riding alongside. then if you opt into our app, we will get your data that way. then we are going to be the world's experts on knowing that so what about the data. if you think about this and you think, that is all in the hands of a foreign adversary, that is a different feeling than when you think about, facebook has a lot of -- yes, they have 1.8 billion daily users, that is a lot. twitter has 10% of that. but imagine if you took paypal's 361 million, twitter's hundred 70 mill

particularly positive for paypal that's the player that has been effectively blocked out in many ways of the apple ecosystem because apple restricts access to other payment methods over their platform so, this is most directly a boost for paypal who will be hoping to kind of draft behind this ruling and hopefully have it kind of transition into even more steps where apple needs to open up aspects of their platform to third party payment providers. >> and let's take a step back here for the payment space you have a brilliant note just pointing out the acquisition we saw between square and afterpay three weeks ago, that you expected to see a huge amount of deal making in the payment space. then we saw amazon go after the big firm, the buy now, pay later candidate. so, what consolidation do you see? and has this set off what's likely to be a race to consolidate? >> we think so it's still a bit of a domino effect where things went quiet as they did across many communities during the pandemic. now all these players with dramatic shift into digital payments that was triggered by the pandemi

he is still bullish on paypal today. barry james, president and ceo of james investment research joining me now. you're in love with this company, right? talk to me about why? >> well they have over 12 billion transactions every year. not all of them are mine but hasn't done a whole lot recently but they are continually innovating. they have great margins. they have great earnings. they have got power i think behind their name and innovation is there, really i think gives them the chance to really propel themselves. something wee like. we've had it in our golden rainbow fund for long time and we think it will be -- liz: we just lost him for a second. what i was about to say to barry, yeah, you've had it for a long time but you recommended it july 12th. it is now down about 10% and i suspect that barry will say it is coming back. clearly one heck of an innovative company. barry, do we have you back? >> we do. liz: i apologize for that. it is a little bit squirrely at the moment. two minutes to go before the colleging bell

and if you included paypal and square it would be two-thirds. it shows why there's so much demand not only for consumers but for investors to add capital to these spaces. >> and how much opportunity is there? in a way, a lot of people might have thought this problem is solved paypal was like 20 years ago and yet not only has paypal separated from ebay and created more investor possibility there, now we've got strike, $100 billion valuation potentially and plus a slew of other companies. >> first of all, we're onliad mid teens online right now we have a long way to go on that some developed markets considerably higher. that's a global metric when you consider what i said earlier, the digital wallet themes think about buy now, pay later there's been a shift to consumer credit shifting from traditional consumer credit on to these programs we estimate it's still only $80 billion of total volume. think about that metric out of the $15 trillion of spend on visa or mastercard so we have a long runway on buy now, pay later and more themes b2b payments a

if you don't truly understand, appreciate expect the struggles of our paypal, the plots of l. vishal nation. how can you put in place with more strategies courses and of course if there's frustrations because we have to cola zation and lot going to 2020 today. we still being left behind me. aboriginal criminal justice research. hannah mclean says the talk away from poverty to prison that confronts indigenous australians dates back to the hot to the additional people were from the point of contact with the colonists was subjected to very crow incarceration. men from all around the state were rounded out whenever they resisted sight laws around servitude or slavery of me today. indigenous incarceration rights continue to increase between 242014. the number of aboriginal prisoners nationally rose by 8 percent. i accept that there are too many operational people in prison. i think we have 2 are not written incredibly complex problem to resolve is the system prices? i don't think so. what we're dealing with is, as i've said, a group of people emerging from colonization and we have to be h

poverty to prison that confronts indigenous australians dates back to the hot during the aboriginal paypal were from the point of contact with the colonists was subjected to very crow incarceration. men from all around the state were round about whenever they resisted site laws around servitude or slavery of me today. indigenous incarceration rights continue to increase between 242014. the number of aboriginal prisoners nationally rose by 8 percent. i accept that there are too many aboriginal people in prison. i think we have to are not brittany credibly complex problem to resolve is the system prices? i don't think. so. what we're dealing with is, as i said, a group of people emerging from colonization. and we have to be honest about and accept aboriginal people make up just 4 percent of western australia population. but a count the 39 percent of adult prison experts, blaine, the states mandatory sentencing laws which impose minimum prison terms and don't allow judges discretion to look at offenders. circumstances with an astray is a mother of all, giles, a se paypal going into prisons. p

, it will be paypal versus affirm. maybe square versus affirm if you're jamie dimon. he gave this great speech about what happened, why aren't we square why aren't we square david, why aren't they square? >> it's literally hip to be square. >> he feels like regulation has been one reason, i think >> right, he feels very hamstrung, not unlike charlie scharf today, although he only had a $250 million at wells. a lot of people, the stock fell $20 billion on a $250 million hit, which is why we don't see wells up today. >> b of a, most sweeping management overhaul in a decade. new cfo, new general counsel, new tech chief as moynihan is consolidating some power it seems. >> in that job a long time already. >> he has. >> remember, he came up from the ranks, a lawyer. but when you speak about what banks are doing the most to advance the social agenda, it's always brian the social agenda meaning empowering people, and i think that we don't expect any of the banks that are listed there to be forces of good, so to speak that's ju

ways you hear robinhood wants to be the next payments platform so whereas, talking about square and paypal eating into the moat of visa and mastercard, yet other companies are coming forward to become, try and compete with square and paypal so there's a lot of competition here sort of reminds us of ten years ago when apple, google and amazon were all, you know, all doing great but in order to keep the growth going all starting to eat into each other's turf it caused short-term disruptions for stocks, because investors were fearing increased competition and spending would impact growth going forward. so i think that's something to be concerned about with some of these payment stocks as so many different areas and so many different players are starting to, or wanting to become, the dominant player there. >> thanks so much for joining us, paul, on this day, when nasdaq is at an all-time high. >> thank you, have a good one. >>> and day one for china's new data and cybersecurity laws. eunice eun has the latest from beijing. >> thanks, jon the new data security law from, out of china ditches tha

you see square and paypal. is that some enthusiasm in part to the payment season as a buy now a pay later? >> i don't directly cover those. you mentioned two names that have been in the market quite some time. especially a name like paypal. i think the market may well. if you you are going to gravitate towards high quality tech those that will survive in the market and well-known names that will refer to those pe or price to earnings stocks they've got a lot of growth and track record those will snap back to those before the tech names. >> we are going to go analog in your crystal ball. in the 10 year at 105. clearly things will continue to rise what level can they settle at that will make investors more comfortable really the pace that moves up very little and the move that matters the latest tech trading in new york with the latest. >> good morning to you >> we begin with the top brass back in the hot seat grilling military leaders after yesterday's heated show down in the senate more admitted to a strategic

are you getting any resistance people say i already have paypal i don't need you >> no. ta hasn't happened to us much yet. literally half the people we surveyed told us, i intend to use mine later for the holidays. this idea of replacing credit cards with buy now, pay later is going plmainstream it's less than 5% of u.s. commerce if you look at the demand and the actual penetration, it's going to be a long time before we start bumping into other players and saying what do you have and what do i have. our consumers love us. we're unique in the sense we charge no late fees. we're extremely focused on consumer delete is what creates this trust based relationship 37 i think there's a long way to go before we start playing a zero sum game >> last question for you, is it someone, another person that i like your company said, interest rates. ten year move in a 6% move last week, i bet you max got killed i think that's not the way a firm works you sap my credit rate has been lowered because the fed kept their rates pretty low too i'm the beneficiary. i like the points. if the ra

paypal we're talking about it whether financials or technology it's land and expand for paypal. they have an engaged user base and a lot of punt for them to go >> dr. j., right back to where we started the conversation. devon energy, marathon oil right? >> yep reason scott are just as was said or as i said, i think demand whether it's mid-stream, net gas, whether it's production and sales, i think this is an area that you can get true alpha going into the end of the year because demand is sky-high and those re-opening plays a lot of them we discussed airlines and cruise ships they use a lot of this as well a lot of movement of those once those ships get unloaded and get put on trains and then out through distribution centers, scott, that's all energy related and i think these plays really will work to the end of 2021 >> we'll take a quick break. come back. unusual activity as always do not miss those trades coming straight ahead on that what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. �

is this a good move for paypal? well definitely, 1st of all they have 377000000 active users. if you compare that to robin hood, they have 18000000. so in terms of the whole trends, you just talked about retail investors getting more and more involved in the market . k pals certainly opens up another door now it's going to take a while for that to happen. as you've mentioned already into the crypto space. there's talk that perhaps they'll find some kind of a partner as a broker dealer. but overall, right now, if you just look at the stock itself, it's interesting because you mentioned it's sold off a little bit, but it actually is holding very keen, moving average here are the 50 day moving average. you have an opportunity if you believe that this could be a real profit place for them as it was, let's say for robin hood, when you have a situation where you have about a $10.00 risk and it should stand the stock off. now we will tell you though, it does, it will take time. it's not going to happen overnight. wow. so pay pal is seeing all of the success that is being had with ret

hear from ceo next >>> paypal launching a new super app today that combines payments, savings, bill pay, crypto, shopping and more. we'll continue to watch that story. stay with us that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. the internet wasn't built to be a place of walls. but then the walls went up and choice became limited. until now. now we're in a new digital landscape of emerging channels, data-driven campaigns and measurable outcomes. welcome to now - the new open web. powered by people-based software from viant - a new standard in media. the upgrade marketers deserve. viant. built for now. ♪♪ (vo) at t-mobile for business, unconventional thinking means we see for now. things differently, so you can focus o

they simply don't see or recognize that the basic mistake is the people without identity paypals and without the identity cause of being allowed into the country on a massive scale. they simply don't want to recognize that it is not possible to check the background of these people. as a result, the threats of islamist terrorism and our country continues to increase. we need to protect a board as effectively and we must not as it is now happening in our kennesaw and bring people into our country without any checks. and we've seen what can happen if we brought 20 convicted criminals into the country who have committed a whole range of crying for molesting children to other sexual offenses. and in addition, at 350 number of people, we don't know exactly how many with other issues, including those present threats. we pursuing a completely misguided migration policy. we need to broaden only those who have no intention to prove who they are. give a credible reasons. i should be allowed to enter our country. you want to see if we should help those in need and for refugee please doesn't have

paypal shares roughly flat today. they've tripped those during the pandemic mastercard and visa are underpe underperformers. paypal and square are up about 15%. amex shares are up the second best gainer in the dow. the shares dropped 83% from their 52-week low last october they also pay about a 1% dividend, something to consider as many investors look for safer stocks during a market selloff >>> up next, johnson & johnson's covid booster shot and its promise. we'll dig into the numbers and wh t cpaatheomny needs to do to gain fda approval, next. ♪ ♪ ♪ ♪ ♪ ♪ i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx. crafted by lexus. experience amazing at your lexus dealer. in 2016, i was working at the amazon warehouse when my brother passed away. and a couple of years later, my mother passed away. after taking care of them, i knew that i really wanted to become a nurse. amazon helped me with training and tuition. today, i'm a med

. >> a veces mandaron dinero por giros, por tarjetas de regalo o por paypal, entre otras formas. ramÓn: se calcula que en 2020 14 millones de personas perdieron mÁs de 2000 millones sobre estas estafas. >> uno pierde la informaciÓn de seguro social, fecha de nacimiento, nombre y direcciÓn. ay ——ahÍ puede caer de vÍctima de robo de identidad. ramÓn: el 25% dio su nÚmero social. las quejas al fbi sobre estas estafas aumentaron en 18%. >> alerta roja es una falsa promesa en donde piden su informaciÓn personal ante de una entrevista formal. ramÓn: cuidado con las estafas. es importante recordar que al enviar dinero es difÍcil recuperarlo. tenga cuidado con los links que aparecen en sus redes sociales. para hacer una queja sobre fraude, llame al nÚmero en pantalla. es el reporte que tenemos. paola: buenas noches. estÁ activo un aviso por riesgo de incendio hasta maÑana en la maÑana. vamos con shenti rodrÍguez. shenti: saludos y buenas noches. condiciones cÁlidas se reportaron al interior, pero hay una mejorÍa. las mÁximas estuvieron cerca de 90°. livermore con

typically you saw with paypal the stock shoots up when they make this announcement i'm curious to see how it moves in months coming >> matt, do you want to offer a comment? why aren't they getting the halo effect on crypto, is it because crypto is maturing, it is a competitive space? the number of times people came on and talked about trying to disintegrate them and if they can continue the reign for longer >> i think they can over the long term but i agree with the issue on the cryptocurrencies. i don't necessarily think it is a great catalyst for affirm. it is just, you know, we have a situation that we have seen with china recently where basically they banned it completely, any transactions in that area. of course, it is a big, big market for anybody looking to expand, number one number two, we have gary gentzler who is definitely signaling they will put a lot more restrictions on the cryptocurrency going forward now, i mean let's face it, countries only have one really, really big power, that's the control of their currency. so it is not just china who is going to put some restric

paypal continuing a red hot trend buying japanese buy now pay later. this whole buy now pay later has become a huge dale paidy. $2.7 billion intending to expand in a country where online buying has tripled in the past decade 2/3 of all purchases still made with cash. what do you think of this business >> we're going to talk a lot about it right now this is an argentinian unicorn. >> do you think this is a good idea >> yeah. credit business? >> cashless. >> by the way, that question really created -- >> our next guest does a little bit of this. you have to have good credit the fin tech sector has been a major beneficiary. customers and merchants adopted a contactless payment systems and moved more operations online check out big fin tech players paypal up 230% square up 230% compare that to the financial services etf xlf up 33%. joining us for more on the hot sector, founder and ceo of fin tech firm uala valuing the company at 2.45 billion. the round was led by softbank and tencent. that was one of the biggest financing rounds ever in an argentinian his

but as a form of payment method basically isn't the same category. paypal, paypal dollars, alibaba bucks, which are accepted everywhere. yeah, that really is interesting to see the countries that are trying to push more towards the digital currency kind of saying, hey, look over here at the shiny thing rather than looking at bitcoin now, but you have warned about the disruption created by the coin in places like el salvador, and a new report indicates that all salvatore's new crypto, well, it could cost western union up to $400000000.00 a year. are we likely to continue to see more push back against moves like the one we're seeing? and i'll solve it or i think we will, i, you know, jeffrey tucker earlier this week called me a pessimist, i think i'm a realist of more than a pessimists. so think about the horse in the buggy, right. so bitcoin encrypted currency, that's the automobile. the horse and buggy, you know, the crowd is out. western union is the horse in the buggy. nobody needs them anymore. they've become obsolete already. $400000000.00 loss from just el salvador, creating wallace

more competition with companies like paypal and wealth front robinhood has no comment on this report, but remember, ceo did tell andrew ross sorkin that this app wouldn't be just for trading. that investors would see robinhood continue diversifying its business lines and revenue over time. that stock hit an all-time high of $85 on august 4th, but currently it's about 50% off that level back to you all. >> josh lipton, thank you. i know, josh brown, you haven't been a huge fan of robinhood at these valuations this latest story just adds to the narrative around competition, that it's heating up around paypal and others and what that might do to margins and the user base. >> that's a defensive announcement that is basically being made to directly respond to all the headlines paypal got about planning a brokerage feature. what's so funny about fintech and i have been following this space for ten years. way before any of them were public what's so funny about fintech is it's aping what we saw with banks in the real world. all these guys sound like sandy wild to me and bank of america was t

paypal striking a deal to buy a japanese buy now pay later firm. courtney reagan has those details. >> hi, morgan. it's another deal in the buy now pay later space. paypal is buying japan's paydi it's a private company backed by george soros' son's family office this follows the deal with affirm and square's $29 billion purchase of afterpay under paypal, paydi will continue to operate its existing brand and leadership buy now pay later can help solidify a sale or increase a transaction total for an online retailer installment payments often allow them to have a low sber rate if one at all, then you'd get from a credit card and lower to possibly zero fees just increasing that conversion at checkout >> courtney reagan, thank you. mike, we've been having this conversation about buy now, pay later and some of the deal-making we've seen in the space in partnerships over recent weeks it just seems to be continuing to heat up here. >> yeah, looks like a little bit of a buying panic by the big players to make sure they have this area well covered longer te

it said her refund had been processed. >> my money magically appeared in my paypal account. they sent me an apology. reporter: the service has offered her two compliment terry tickets to bottlerock 2022. she said she had not been expecting that and is appreciative of the gesture. so i might, i appreciate them doing that. >> that was a nice thing to do and she has not missed any beats. thank you. >> drama is building ahead of tonight's episode of dancing with the stars. a fan favorite pro sidelined with covid as the pairs faced their first elimination of the season. >> the pcr tests came back positive and i just feel so bad. >> you can tell she feels miserable. cheryl burke tested positive even though she is fully vaccinated. dancing with the stars says it will be addressed during the broadcast and that they are following cdc guidelines. dancing with the stars airs tonight at 8:00 on abc 7. just ahead, today was our only chance for rain in the week. spencer has warmer hi, i'm debra. i'm from colorado. i've been married to my high school sweetheart for 35 years. i'm a mother o

this is the transformation date, they did -- etf that sparks everything from paypal to blockchain companies. you can see we spent four straight days of games with the drop on friday and that is what the market was taking on board. what does this mean and the real world for companies that want to operate within cryptocurrencies on a transactional basis? emily: thank you so much. china's crackdown on crypto and companies continues in response to the increased regulatory pressure. the crypto exchange has moved its headquarters from hong kong to the bahamas. the spokesperson responded to the move saying it as jurisdictions roll out, comprehensive regimes, we are excited to take part in addition to this and prioritizing the jurisdictions without travel restrictions europe for more on the crackdown and the company moves, the ceo, sam. good to have you back. i assume as an executive this is a nightmare. what is your reaction to this and how did you make the decision to move to the bahamas out of all of the options out there? sam: we have been looking at the bahamas for a while. they are one of the

if you go to one platform like paypal, it will be different than the firm -- the affirm program or the klarna program. you have to keep track of all these different playbooks. not only are you taking on all these loans you may not be super familiar with, but each is slightly different than the others. romaine: how much transparency is there in the buying process? when people click on these things, how much information are they getting? >> that's a great question. what is interesting about buy now, pay later is a lot of times, these companies are offering themselves as more straightforward, more transparent than credit card companies. the deal is you are getting exactly what you see on the box, no hidden fees. i don't necessarily the payments are not as may be as transparent as they could be, it is more that these are so new. i had not heard of a lot of these cases, being part of this gen z group, more willing to try more things on the internet. a lot of these names are new to me until recently. the devil may be in the details, but these are just new products. they are different than wh

. >>> plus, your morning rbi and big money movers including paypal and microsoft adding to a record year for m&a as the deal makers and deal lawyers just keep getting richer and richer. >>> and it is a special wednesday edition of the top five insider buys of the week. your exclusive look at the company exec timps buying up the most of their company's shares and one of the month long shopping spree and one of the single biggest buys we have ever seen it's in a new namend a we'll name it for you coming up. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. introducing xfinity rewards. our very own way of thanking you just for being with us. en

let's start with paypal which seems to be expanding in lots of different directions >> exactly, tyler. they're expanding in a lot of different directions and participated in rallies year to date if you look up 23% in line with the broader markets if you look at their key performance, a lot of things they're doing is strong. it's all pointing upwards. look at the total payment volume on their platforms, $311 billion. all signs are strong you look at what they're doing for the firm, at cryptocurrency, a lot of upside on the venmo side and those reports at broker trading. i think as an investor you want to look for firms continuing that growth story and paypal is one of them. >> an ambitious company kicking on all cylinders one that hasn't performed or matched the broader index surprisingly is amazon >> exactly, tyler. it's been in a bearish or neutral trend since q2 and investors are used to that pull forward growth that happened in 2020 i think investors have to recalibrate and look at the value amazon is trading at that's the biggest thing if you scream for stocks, amazon has a pretty

we're seeing crypto everywhere we look at square and paypal and coin base and robinhood. we're seeing crypto becoming more and more important. the way i view crypto and i think it is a little different, i view crypto as an engagement driver or enhanced for the apps. if you think about the holy grail of all of these apps, they all want to become the super app, the next neo bank we said about square, it is like buying jp morgan in 1871 so that is where they all want to be and crypto is a very, very good engagement tool and i think that is why it is going to continue to flourish right now but, again, there is also a lot of risks not all crypto is created equal. there is bitcoin and then there is a lot of other crypto which may or may not be around in a few years. >> let's discuss that then because there are claims that bitcoin's dominance is waning recently soon to be supplanted by other cryptocurrency, namely ether. what do you make of those arguments and which cryptocurrencies do you believe have more staying power and should be the ones companies are paying attention to?

paypal announced just yesterday the acquisition, and last month square said it would buy afterpay back to you guys >> thanks very much, kate, anastacia, i'm wondering what you think about the buy now/pay later space, if affirm is the name that you think will be the big winner investors certainly thought it was after that announce mment lt of steals that seem to be being made right now do you want to look somewhere else here if this really is a growth area? >> courtney, you're right. there's a lot of players in this space, some of them are more established liar square, paypal and others banks are trying to get into the buy now/pay later, and visa and mast mastercard, this is a pretty crowded space, but i think there's a lot of -- remember, this is a $8 trillion credit card business, and the volumes of buy now/pay later are really small right now. they could grow 10, 15 fold. there's a lot of competition for sure. >> affirm up today mike, just a big of a leg lower. >> a bit of a tentative feel it has been all around i feel like we have full equity allocation meeting this window of uncert

under paypal, it will continue to operate its existing business, its brand and the leadership will remain there's little down side in the offering for these options at checkout for online retailers. and in some cases it can solidify a sale or increase the purchase amount for a shopper that may not be able to pay in full immediately for retailers it's a great option for shoppers, installment payment plans typically offer lower interest rates than credit cards provide and just give another way to pay the aprs charged are lower when paid over a shorter period of time, say three months over 12 months or if the purchaser has better credit from the outset. affirm's apr could be between 0% and 30% depending on the purchase amount and with a possible down payment required and that credit check. there are no fees for late payments, prepayments. there's no annual fees and no fees to open or close an account. afterpay has no interest but requires the purchase be paid over six weeks, so a shorter period of time if the payments aren't made, they count as paused you can't use it to buy anything else no

. >> yeah, paypal. >> yeah. >> he -- i mean he's a computer whiz. he's a ril immigrant success story. born in south africa, moved to canada, then the u.s. it is a marvelous story for an immigrant to make it this big in this country, with spacex, well, paypal, and spacex, and also tesla. and tesla is making, slowly, inroads into, as i said, the automobile manufacturing business, which is a very difficult business inherently to make inroads into. so it's very impressive. so you start off with the ceo who has his own financial backing in that he's a billionaire. this marks a contrast from some of the other mavericks that we looked at. that's one plausible reason why tesla seems to be -- seems to be holding its own so far. what are some other reasons? tesla's stock is doing very well. what are some other possible reasons to explain why tesla has not gone the way of tucker and delorean, at least not yet? any other ideas? what about the nature of the car? what powers tesla? gasoline? diesel? >> it's an electric car. it makes it much different, and in a wa