good monday morning. carl quintanilla is off today. kayla tausche is here along with the john, jon fortt. first up, amazon moving in to the mobile payment space.company will start allowing customers to use its platform to make online payments for services. a move many see as a direct shot at paypal. the service will allow the # 240 million active years to store credit card details to pay for services like a monthly phone bill and in turn, amazon will charge a small fee for each small transaction. >> there is a big appeal from amazon. all different people sell stuff on amazon. it's processing and handiling te transaction so you don't have to worry about fraud.

if you go on go go wireless, you can pay with amazon. so i think it's very threatening. >> have you used it? >> go go, yes, i have. it's pretty convenient. i have my own account so i don't end up using that. but what amazon is banking on is hair reliability. and it's one of the few passwords people remember. not just a threat to paypal, but also the credit card companies. eventually amazon could offer people enticements to directly connect to their checking accounts and that could be a problem for all sorts of people in the payment space. >> i have a lot of thoughts on this. i feel like amazon has quietly creeped into the services space for a few years. they started doing small business loans a few year as go. >> i was not aware of that. >> for vendors on the website, for distributors, amazon can actuallygo. >> i was not aware of that. >> for vendors on the website, for distributors, amazon can

actually deduct from sales to repay 24e7themselves for the lo. so they are trying to go full throttle into financial servi s services, but fairly quietly. and think coming back to the security point, as a time when they are vulnerable, when paypal is vulnerable in the wake of the ebay breach to be able to say we can process this for you, too, that is interesting. one last thing i want to say. on friday, i got an e-mail from paypal offering for me too link my netflix account to paypal, they would give me a free month of netflix to have paypal pay my netflix membership every month. so that is the e-mail i got. >> i thought that was you for a second. >> and remember a lot of people now start looking to buy something on amazon as opposed to going to google. this is just another reason why buying things on amazon will be more convenient. bad for paypal, ebay and google. >> when we are talking about

this, should we be careful to separate out payments from banking? if i'm amazon and i'm in charge of the technology that clears its payments, is that the same as being a quotequote/unquote b? >> very far from that. not even paypal can store your deposits. google cannot. amazon cannot. they can only be a third party -- >> but that's not a threat to financial firms, is it? >> paypal actually pools all of that money in separate banks that actually have fdic insurance. so up ontil one these companies applies for a bank charter or fdi krechlt insurance, that will be the tell tale sign. your loyalty as a consumer becomes to amazon brand more than the bank brand. and what amazon is doing shear similar to what we see big enterprise companies like ibm and hp doing, help to go finance the operations are or the

convenience of transactions on the back he said.go finance the operations are or the convenience of transactions on the back he said.togo finance the operations are or the convenience of transactions on the back he said. so ibm will help buy equipment. and that is a version of what amazon can potentially do here. >> amazon shares have suffered this year. we'll see if this is more of a catalyst to turn them around. speaking of big tech companies trading today, here is a look at the share price of apple. it's trading at 92 and change. of course we're used to hearing it in the multi100 dollar level. what is going on? >> split 7 for 1 after the close on friday. today trading at its newly adjusted stock price. at around $92 a share. keep in mind, apple has rallied over 20% since the split was announced in late april. but investors be cautioned. apple shares have underperformed one month post split down on

average 4% to 6%. but since apple's 2 for 1 split in 2005, shares are up a whopping 1400%. all time high was just over $700 a share, but post-sliflip, $172. in general, last friday one share of apple cost you about $645. that's gone down to $92. it was actually more expensive to buy one share of apple than a 16 gigabyte ipad. but that of course has now changed. >> it's interesting. did apple need to do this? what is the point of this stock split? >> these are all stop gap measures to try to make it to the fall when they have new radio duct products. i went into an apple store in connecticut and it was basically not full. and all the salespeople were

approaching me. usually when you go in, you have to try to find somebody. they were trying to sell me whatever i would buy. so a lot of financial engineering, better have new products in the fall. >> we've been focusing on the split for several weeks at this point. and remember the quarter where they announced this was not a blockbuster quarter by any means. and so the conversation then was this is an attempt for have us talk about this split versus talking about how little they announced that quarter. and it was successful in doing that. will it be successful in bringing more retail investors? we'll see. >> so what i'm hearing is that this is basically a pr you've. >> i don't think it's a pr move. i think it's pragmatism. they know the carl icahns of the world would like more attention on the stock. you can already see the volatility today. it reached the day's highs around 9:30 soon after the hope and then plunged and now getting back up towards though levels. and it will be all over the place. especially now that we've got

the product season coming up in the back half of the year and now it's so much more liquid. >> company shares are moving too much, and apple saying some tra opportunities. >> at least people are calling for more buy backs, calling for more liquidity. now you've got that. so now we'll see -- >> very disappointing worldwide developer o developer's conference last week. >> what are you talking about. >> >> jon said no hardware. i kept thinkinged at least mode hardware. but just some features on your phone. basically stuff is already in android. so i was not blown away by it. >> with is the biggest wwdc ever probably for apple. even bigger than the iphone because of all the legacy stuff that they have opened up. more than 4,000 apis. they can pull this off, it will be huge. >> i thought maybe it was going

to be the programming language that only in retrospect we'd realize was so exciting. >> i kept thinking he would show everything that knocks back at least a little bit. but just nothing. the fact that you can answer your phone on your computer and the fact that you can start are an e-mail on your phone and -- just very basic stuff. >> you yyou can do that on your watch this half a year. >> nobody has to buy you birthday presents. >> all i want is drones. only gift i want now. >> all right. moving on, finally thanks to a $1.2 billion cash infusion, uber is now valued at $17 billion depending on who you ask. i talked to their ceo on friday where he discussed the eye popping valuation figure. take a listen. you're worth more than whole foods, worth more than tiffany and company. more than these names which have huge presences here in this country. and you guys very swiftly have built one, too. but you've said that actually you think that valuation is

conservative. is that right? >> the way i describe it, yes, we're young, we actually turn four years old this week. but we've had incredible growth. and so the size of the business today is very large and the growth is actually unprecedented. even if you take public market multiples, we're getting less on growth that is far bigger. so private companies just don't get the same kind of multiple. as a public company, there is at least an argument that it would be higher. >> john, how much is this company worth? >> let me walk through basic back to the envelope map on how this could be priced. at $20 million a week, this is what they were doing at the end of last year, revenue, according to a leaked document that's gross, that would have been a billion run rate a rear. they say they're doubling every six months. so let's say this year they do $2 billion. $2 billion into $18 billion valuation gets you mine tinine

revenue. facebook trades at six, ebay at four. i think that's how he would say he's cheap. he's not quite where facebook's multiple is. >> the most interesting hinge about this was the line in the blog post on friday where they said, okay, this is going to be a $1.4 billion raise. we've closed $1.2 billion of it. and we're still in the final stages of securing some investments. that leads me to think are you getting a ford or a gm or a tesla or one of the strategic auto companies to back you? seeing a combination between some of these big three automakers and uber i think would be just the -- >> you could argue google is strategic now that they have driverless cars coming. >> it will be interesting to see once they close that portion of the investment round, too. >> i think what a lot of people miss is this is not a black car company. this is a software and logistics

company and the potential if they manage this right is absolutely huge. here is a company that has figured out, first of all, how to get a huge piece of revenue per transaction, mobile first company. but it's also about knowing how to manage supply and demand for real things on the road, low sgis ti sgis ticks. >> and in only four year. and i know this sounds crazy. we should be talking about you how the valuations are way overblown. but i'm sorry, in four years, this company is transforming transportation. >> and billions in revenue. to me this is a much better buy than a what's app oig. >> i was in d.c. at a wegd. i couldn't find a taxi. we take an uber x. $12 to go roughly 3 miles.

pretty much the same as a tx city would cost you. and i'm talking to the driver and i said what is your story. and he said i have a day job, i'm waiting to meet my cousin to go out to a club, but i can make a couple hundred dollar before i go and is this like baby-sitting. this is a way to earn extra income for people who don't need do this for their full-time job. and i thought i'm going to do this. >> final point, i asked travis if fedex and u.p.s. have been put on notice. and he said we're only experiments in new york. s's on it's only been a year. only four years since he couldn't catch a cab in paris andsity urban areas is where you need to stuff around more efficiently. they know how to do it. >> uber's record breaking valuation does bring us for this morning's squawk on the tweet. we're asking to you complete the following sentence. if uber is worth $17 billion,

blank must be worth blank. sweet us your best responses. we also want to check not market. stocked are mixed. a little bit of data at the top of the 10:00 hour, but we're watching shares of family dollar specifically rallies after carl icahn revealed a more than 9% stake in the company. that makes him the largest shareholder at the discounts retailer and of course tyson foods trading to the down side after an offer of $63 a share in cash for hillshire brands. meanwhile hillshire up 5%. that stock at nearly $62. just below that offer from tyson. but that will be an expensive deal. but speaking of tyson foods, do donnie smith will be on at 4:00 p.m. eastern time. >> got to ask him about this valuation. and if you want to talk about paying too much, this is the central question with how much tyson is now paying for

effectively sausages. coming up, this could be the biggest week of the year for gamers. no longer chairman and ceo also the proposal that might have kept netflix reed hastings up overnight. and how many people were talking about season two of orange of the new black this weekend? we bring you the first ever broadcast look at stories trending and who is talking about them. chocolate is very individual. white chocolate lovers don't like dark chocolate. milk chocolate lovers don't necessarily like dark or white. before we couldn't really allow the consumer to customize their preferred chocolate. we needed the scalable cloud solution allowing them to see all 800 products and select what they are looking for. now there is endless opportunity to indulge.

who is the highest paid ceo brand new to the john? that is dan mattrick making just under a cool $50 million. the number comes from a "new york times" study. speaking of zynga, the company will make its first appearance at the annual e-3 video conference. jul jul julia is live with the latest. >> reporter: it's about the latest bells and whistles. the game makers are all jockeying to expand their existing franchises. and build entirely new ones. also in the spotlight are new digital distribution of games

and add-s on, and the potential for virtual reality. this week will provide investors to bet on which games will be big hits a the holiday time. activision, ea and take 2 all beating expectations. the holid. activision, ea and take 2 all beating expectations.the holida. activision, ea and take 2 all beating expectations. the mood is upbeat with the latest consoles. off to a strong start. but seasony leads in the first e in nearly a decade. it sold nearly 19 million consoles in the year ending march compared to microsoft 12 million units. anyone ten dou nintendo is in a tougher spot. it is skipping its big conference this year. we expect a big focus on the

number of new games that it will be introducing an also the big halo franchise, they're handing out these wrist bands as a way to get in and we hear they will be lighting up at key moments throughout the 90 minute pre presser. >> they can spot you anywhere with that. thanks solve. and another great interview on closing bell today is andrew wilson.solve. and another great interview on closing bell today is andrew wilson.olve. and another great interview on closing bell today is andrew wilson.lve. and another great interview on closing bell today is andrew wilson.ve. and another great interview on closing bell today is andrew wilson.. and another great interview on closing bell today is andrew wilson. live in a first on cnbc interview. you have a busy day, kelly. >> i'm exhausted already. >> i'll have to tune into closing bell as i always do. >> well, that won't make any difference then. we need to you gather all your friends around. >> as i always do. . >> quhewhenever they break to b out, the wii tries to go broader, the minute you do that, you're in trouble and you have to go back to the hardcore gamers. >> it's hard to isolate one specific lesson in all of this,

but nintendo had a lot of success for the wii which was away from the hardcore gamer. microsoft pushed too far. but the xbox won. got to point out it is a little misleading. $20 million is the stock he gave up over at mike he crow soft. a bunch of the rest of that stock is over three, four and five years. a lot performance based. >> wlenl you get somebody from a big successful company, you have to pay them up front. >> another thing for shareholders to consider. up next, will reed hastings be able to keep both titles? an important vote. we'll get exuberant and then depressed. as warren buffett said, the market is dealing with a manic depressive. >> that's later this hour. weekdays are for rising to the challenge.

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welcome back. shareholders at netflix seem to be restless. shareholders are push to go split push to go split up the ceo and chairman roles. the measure is supported by cal pers and two biggest proxy advisory firms. just a number of grievances being raised this year. netflix is fighting battles on many fronts. this just the latest here. but guys, this is a proposal that a similar one last year got 73% of the votes from netflix shares voted at the meeting. shares are up 93% in the last year.

is this the right time to be fighting this battle? >> seems like it's two years too late. >> is it still angriness over how reed hastings h s handled t whole episode? >> i think this is just what they like to see happen. but it seems the timing is important in how you put these sorts of things that management is against. here reed hastings, he's ceo of the year in a lot of publications. >> only thing i can think is that he's so outspoken, so much does whatever he thinks. they just quawant to have someo to check him a bit. >> let's count you down to the close across the uk. >> quite a bit of green on the scene. volumes are low.

the dedynamic is the ecb as more information comes out. the inference that they would do more further down the line. jpmorgan is overweight.the infeo more further down the line. jpmorgan is overweight.informat. the inference that they would do more further down the line. jpmorgan is overweight.the infeo more further down the line. jpmorgan is overweight. cheap cash basically will benefit the periphery more. lloyds in the uk, 25% owned by the british government still or the uk taxpayer. negative territory. looks like the iipo will be belw book value. peripheral wobond markets contie to rise pushing the right can town further. a down further and the spanish governments can borrow the ten-year more cheaply than the u.s.. when you look at that, bear in mind in the real economy, the

picture is different. here you have 2% inflation, your real interest rate is very low. in spain, there is virtually no inflation, so real interest rate is very high. and of course many firms were row above th borrow above that. and tonight in sweden, leaders are trying to decide on a new head for the european commission. a strong candidate reflecting a popular vote pushing for pro eu policies across the union would be good for investors long time. but whether they come up with that is another question. >> i saw that firsthand. thank you very much. coming up, what is time worth without time warner? this chart might give you some idea. we'll have more in a moment. plus squawk on the tweet.

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time celebrating its spin off from time warner. here's a look at what they're doing. down about 4%. chairman and ceo joining us earlier and here's what he had to say to tohose who considered those who say they were a pure play. >> we'll prove them wrong. i came from the role of private equity. and when you look at private equity company, you look at a company that has real assets. i can reach every ceo in america, i have some of the most trusted brands in the united states. nine have been around for over 40 years. one is the oldest living continuously published magazine in the world. i have great marketing machine. i have strong cash flows. and to write-off a company like that, i look at it as incredibleab incredible. this company has great assets. >> i actually think it's a very interesting opportunity. he throws off 300 mltd plus in

fr million plus in cash throw. f they have amazing brands. david said will your investors let you invest the cash and he said he'll go for it. so why see why they don't have the opportunity that any digital media company has. >> why haven't they already created more online presence with the existing brands? flagship title like "people" magazine, sales dropped by and a half. >> they need to change a number of things. i worked for him inc. for three or four years and they are not digital in their mindset. they have to hire the right people.not digital in their min. they have to hire the right people.or four years and they a digital in their mindset. they have to hire the right people. a big cultural change needed there. >> the cash has had to go back to the parent company and they have been deprived of the investment opportunity.

>> do you think if you were rubbiru running this company could you pull it off? >> for minute to claim they can build any kind of business not being on the inside is too bold of a claim either way. it's an interesting opportunity. i don't see why they don't have the same shot that a pure play does. any of the companies that we talk about that anyone is excited about. and they will use the print revenue almost like venture capital. almost like money that they can use to actually build a stand alone business. brands are strong. so why not. >> and if they can make it work, how much other people will follow suit, as well. >> interesting to see how the shareholders react. is there an activist that says, no, we want the cash back. you can't do this investment. >> so a rocky start. we'll see if the strategy over time has people thinking differently. >> we have some data on proceed

pri proprietary basis. they let us track it over the weekend. the line operates the number of tweets per minute all throughout twitter. there are a few that trended. is this over the span of the weekend what happened. all right. so let's take a look right here weekend what happened. all right. so let's take a look right here. this appears to be a tweet from oreo cookie. oreo is very social media savvy. they're saying orange is back. prepare your favorite snacks. that was retweeted 710 times when that went out. let's take a look at this one, looking to be very popular. of course he will help deagaell

said season two released on netflix. see you all monday. maybe she was happening out with john steinberg who crashed on eight episodes. finally, let's go over here and show you what this one is. 1700 retweets. is this the actual show twitter handle saying she can't sit with us. are you famous or something? you're lindsay lohan. maybe i don't get that joke, but for those who do watch it, i know you had a busy weekend. a lot of you are tweeting about it as we saw. will are hundreds of thousands of people tweeting, so we'll see when the new data comes out. busy weekend for a lot of people on netflix. f let's get a quick market flash. >> i do not watch it yet, but i have to get on it. check out shares of office depot. this after a positive article

over the weekend that stated the stock could see an increase of over 50% as revenue declines less than the company cost savings becomes more apparent to investors. you can see shares up about 4.5%. but orange is the new black. office depot i might lean towards the former as where my interest may lie going forward. >> thanks, dom. what is the one of the fist things he does after launching tesla in the uk? he talks to cnbc europe. his take coming up santelli, w are you watching? >> we'll did a bit of a forensics on the unemployment rate that we obtained on friday at 6.3%. we'll talk about what it means or what it may not mean. but ultimately the secret to that unemployment rate may boil down to a wink and a nod. want to know what i mean? come back after the break. all stations come over to mission a for a final go.

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thleaving the firm?oss said. moving across the world? to join a start up. so he sent money and rented an apartment in a new land. that's crazy, his boss said. what fun is life if you're not,he said. in over 700 cities worldwide, products and services that make a citi client anywhere a citi client everywhere. coming up at the top of the hour, the bulls rule the street right now. so can anything stop stocks from

going higher? and uber valued at $17 billion. that's right, if you think that is outrageous, wait until you hear how much other tech startups are now worth. is this the definitive sign of the bubble? playing games, we go live to e-3 for the latest headlines from xbox and a whole lot more all straight ahead. and moving on to tesla, their ceo spoke to cnbc europe, everything from self driving car to tesla's stock price. take a listen. >> i avoid watching the day to day shows price because it's somewhat distracting. and because tesla's value is dwri driven so much by the perception of our future execution, anything that affects people's belief in future execution has dramatic effect on dramatic

stock price. so people try to read the tea leaves even though there is not enough information to make conclusions, and then they will make exuberant and then depressed. and as warren buffett said, the market is like dealing with a manic depressive. >> he was talking to cath lynn ro karl li carol liyin roth. so now he's saying he's ignoring. >> it's a long term bet and very capital intensive. so day to day stock movements have to be jolting to his gut. >> to see the stock move sometimes 10% in day, that has to be confusing and i can't

blame him for wanting to get back to running. >> also that is such a length thing explanation saying the stock expensive. >> you think he's just saying it's expensive? >> oh, yeah, it prices in all sorts of things. yeah, if you deduce that length any -- >> it's not too crazy. >> he's the aalan greenspan of momentum stocks.>> it's not too. >> he's the alan greenspan of momentum stocks. >> this is like more double negatives. i'm not not saying it's not more expensive. like what? >> you wouldn't expect him to say his company is overvalued. >> unless you're reed hastings. it all comes full circle. >> that's why you have to at

that time alan green spspan rul. the significance caps of tesla finally going to the uk, interestly enough, one of the top programs is called top gear. he got into a bit of a spat with the host of the program. so this is perhaps a return to the market. >> and you've seen gas prices in the uk. tesla should beburner there. >> and granted other markets have more heavily subsidized options available. but nevertheless, it's extremely expensive. you think gas prices are high here? they're nothing. now over to rick santelli. >> i'll tell you what, we'll have to wait and see how this one finishes out. when it comes to the

unemployment rate, the advertised rate, we saw it on the screen, big as life, 6.3%. you now, do any viewers and listeners truly believe that that 6.3% is telling us what the federal reserve wants to truly mean? i personally being it's kind of a wink. and i'll tell you why. because the structural issues of what the labor force participation rate dropping over the last handful plus of years, and it has been a trend that actually outlives the current administration even part of the previous administration, but i do think some of the policies of late have accelerated. but let's keep it simple. many want to concentrate on the dynamic that makes sense. it's the 60 and 70-year-olds that are dropping out. but that really isn't the case. as a matter of fact, if you look at all demographic groups, whether 20 to i24, which by the way on the data as advertised,

we have reclaimed all the jobs we've lost in the recession, maybe that is true on the nominal side, but consider the population growth of the 16 to 24 has grown by i believe the number is 15 million. so there is falsehoods with looking at the picture as presented. and when you also consider the notion of how many people of course have structurally never going to have the right skills and no after tmount of qe progr will change the skillset, let's keep it simple. if it means we all go along with the rate, count me in. because i've said all along i think the fed wants out of the programs. if that's the back ben ckbone o exit, so be it. let the chips fall where they may. but volatility and volume, you see so many reasons. you saw goldman talking several stories picked up in media and newspapers saying it's an economic issue. i'm sorry, not buying it.

just imagine first of all that the too big to fail banks and some of the banks that used to be investment banks, they basically did not scream much when some of the programs came online. so they fleeced the lamb of all the wool and now they don't like the taste. so it's an economic misfiring. but i don't really think it is. as a matter of fact, let's kind of look at the facts in a more simplified version. if the federal reserve in essence is handicapping which horse will win, and that horse is equities, for a variety of reasons that lead to that risk road, what do you think would happen in the ver knack you cuellar of horse racing to the odds of all the other horses? they would go down. so to me, the reason volatility and volume are down is because the markets in some ways rpts t aren't the price discovery process they used to be and so many people on board with that concept challenging that just sun thiis unthinkable. it's done well by returns and corporate profits.

but i think that is gives us signs that things about ready to change. so low volume and volatility in addition, i think it's a general mistrust of the markets. i think mr. lewis, i don't either of those dynamics will change anytime soon. and here we are at 261. if tens close above 260, look for a snap back to higher rates. kelly, back to you. >> a lot to digest this morning, rick. thank you. instead of computer chip, put your money in kale chips. a new way to get into private equity focused on the consumer. oh my god! look. you need to see this. show 'em the curve. ♪ do you know what this means? the greater the curvature, the bigger the difference.

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. if you'd rather invest in kale chips than cloud computing, you might be interested in what one company is up to. the company is called circle up and launched a product call circles, a way of getting in to private squitity a equity. what types of startups are in these circles? the co-founder and ceo circle up joins us thousand. r ryan, thank you for joining us. so what do investors get into some of these companies?housand. ryan, thank you for joining us.

so what do investors get into some of these companies?ousand. ryan, thank you for joining us. so what do investors get into some of these companies?usand. ryan, thank you for joining us. so what do investors get into some of these companies?sand. ryan, thank you for joining us. so what do investors get into some of these companies?and. ryan, thank you for joining us. so what do investors get into some of these companies?nd. ryan, thank you for joining us. so what do investors get into some of these companies?d. ryan, thank you for joining us. so what do investors get into some of these companies?. .yan, thank you f >> you find an opportunity that they want to invest in. estrvaluates the opportunity. circles is a fun product that allows individual investors for invest as little as $10,000 into basket of private companies. >> so you have circle which is are associated product, money managers choose a baskets of company, but then they can also invest in the company itself, too, if i under this correctly. but i'm just wondering, what demand are you seeing from consumers to can get into private equity? >> it allows individual investors to get that access into private equity often without paying fees. so there are some circles in our site that have zero and zero as opposed to the typical which charges two and 20.

also with fund managers with great backgrounds in early stage investing. what we think we're doing at circle up is creating etfs for private markets. just as they created liquidity in the public market, we're doing that with circles. >> and you're doing that with mostly consumer company. i understand that is what your background is. it conjures up an image of warren buffett who says invest in what yyou thoknow. do you source them, how do you verify they are safe enough investments to get into? >> a great question. first of a first of all, they are high risk. but we're big believers in the peter lynch mantra invest in what you know. one of the reasons we focus on consumer. the return has been greater. average returns in consumer retail are 3 1/2 times your money in 4 1/2 years.

but secondly, we position this is really important for the average inverse tore. easier businesses to understand. if you think about $5 million food company that sold in every whole foods in the country, it's a business that most individual credit investors can wrap their head around. we have a strict diligence process where we evaluate each opportunity and we accept less than 2% of the companies that apply. >> that's pretty exclusive. you raised $30 million for these companies so far. what is the return on that money that you've already raised? >> we've only been open for two years. and in the private markets, the rushes typically come after four or five years. what's what the data shows. so we don't have any exits yet. we also have no companies that have gone to zero.twhat's what . so we don't have any exits yet. we also have no companies that have gone to zero.hat's what th. so we don't have any exits yet. we also have no companies that have gone to zero. but the average company has grown revenue 80% per year since raise moeney on circle up. we also have partnerships that

work with our companies after they raise money. >> what do you think about the platforms that are more focused on tech companies? the argument i hear a lot is that there is an adverse selection thing on, the good companies will raise regular venture capital. >> we have a bias clearly, but we think in the tech world, there is overfunding. there are hundreds of venture capital firms struggling to put money to work and the industry focus on tech has had almost zero returns over the past decade. the problem in consumer and retail is that there is no silicon valley for consumer retail companies. so even though the returns have been strong, they're hard to put money to work. in the tech world, you put money to work here in silicon valley very quickly. in the consumer world, our businesses come from idaho to florida to texas. they're harder to find but the return has been very strong. we think that about if we focused on tech, it would mean we only work with the companies

who are only passed over by silicon valley. >> just one last comment here. if i'm an investor in one of the companies on circle up, do i get quarterly earnings? how much disclosure do i get at the various milestones in their growth? >> i'm sorry, i wasn't able to hear that, but we're very excited about the companies we're working with. >> we'll leave it there. and our thanks to john steinberg who has been with us this whole hour. >> i want to know what kevin o'leary thinks of circle up. you can get a annuity? go >> he wants a licensing fee. >> squawk on the tweet, ub ser now valued at $17 billion. so we're asking if ub ser woer d $17 billion, blank must be worst

blank. skirksworthst blank. skirkst blank. skirksworth blank. skirks blank. skirksh blank. blank. skirks could save you fifteen percent or more on car insurance. mmmhmmm...everybody knows that. well, did you know that old macdonald was a really bad speller? your word is...cow. cow. cow. c...o...w... ...e...i...e...i...o. [buzzer] dangnabbit. geico. fifteen minutes could save you...well, you know. white chocolate loversividual. don't like dark chocolate. milk chocolate lovers don't necessarily like dark or white. before we couldn't really allow the consumer to customize their preferred chocolate.

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$17 billion. i spoke with the company's ceo on friday when uber announced raising $1.2 billion in new financi financing. take a listen. >> it's pretty remarkable. we're in the billions in terms of how big the company is and what kind of activity we're doing on a yearly basis. folks want to be able to push a button and get a ride very quickly. and if you can make the economics work so it's more economical to push a button and get a ride than it is to own a car, then a lot of people will do it. >> that brings us to this morning's squawk on the tweet. we've been asking to you complete the following sentence. if uber is worth 17 billion, blank has to be worth blank. i had adrian says my pets.com shares have to be worth something. and also the l.a. clippers must be worth $2 billion. oh, wait, steve ballmer did what? never mind. and tyler tweets if uber is worth $17 billion, than

entrepreneurialism has to be worth every penny. that's a great point. >> you you can't find a cab, the rest is history. >> and a good morning for momentum stocks. so maybe it is that worth. apple at the high of the day, up above $92. >> it has to cross $100 in order to reach its you new nominal high. as we hit noon, let go ov's get to the halftime report. >> welcome to the halftime show. as major averages approach new milestones, what if anything can stop stocks. game on with the biggest developers gathering at e-3, how does microsoft plan to steal the show. worst trade of the day. why is hershey locked in a clash over cannabis and chocolate. let's meet today's starting lineup.