♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. hurry, before this opportunity cools off.

♪ good morning. 8:00 at amazon headquarters in seattle. in a little over two hours' time expected to unveil a new smartphone, and it's 11:00 a.m. here on wall street. "squawk alley" is live.

good morning. welcome to "squawk alley." joaning us, co-founder of elevation partners. good to see you, roger. with us, as always, kayla tausche and jon fortt. good morning to you, and we've got to start with amazon and just over two hours time from now, the online retailer expected to reveal its first-ever smartphone in partnership with at&t. josh lipton is live in seattle. is it actually going to be a phone? >> well, kelly, we're at this big amazon event scheduled to kick off, you said in about two hours. the lot is supposedly about a supposed smartphone, amazon will show the world, the long-rumored phone. what will be the purpose, the broader strategy of that phone? listen, amazon wants you shopping online at amazon.com. wants you buying digital content, music, movies, tv

shows. evidence suggests owning a device make as difference. kindl owner, for example, spend about 30% more than non-kindl owners, according to mark mahaney of rbc. also, it's an data. amazon wants as much data about their customers as possible. strengthen that ecosystem with a phone, tablet, other hardware, you have data. then cross-sell your customers that much more effectively and efficiently. a broader long-term strategy. if. is a phone, though, obviously amazon would be entering a hypercompetitive market, one dominated by apple and samsung, combine to have about 46% of the market. they'd have to introduce a product different than the competition. in fact, amazon's invitation to this event was a children's book. "mr. pine's purple book" all about the character who painted his house purple to distinguish

it from his neighbors. they clearly think they have a product they'll introduce today that stands apart from the competition. we'll have to wait and see whether consumers agree. guys, back to you. >> josh for now in seattle, thank you. recap what we think we know about amazon's big unveil today. at&t, the exclusive character. capable of displaying 3d images without special glasses and amazon's ceo is promising something "a little different." so roger, what do you expect to see from amazon today? >> well, i haven't seen the device, but i think the smart money would not be expected it to be a success. if the -- two real issues, first, the category is mature. consumers already made up their mind what they want in a smartphone, and perhaps more importantly, the kind of things that amazon talked about distinguishes here, things intensive in their usage of

battery power. if it is really 3d and really tracks eye movement, it's not clear those are things people want turned on because the battery life will die. my gut instinct here is that amazon is way too late coming into this market, but they have this one enormous positive in theirs corner, which is investors don't seem to care. the investors like whatever amazon does, and so i think they're going to give them a chance to take this out for a test drive, but i'll be very surprised if it's a big win. >> it was funny this morning to hear cramer talking about amazon and uber and google, sayings tech companies can multitank as good as any 19-year-old and multitasking is actually the name of the game. to be a successful tech company you have to be everything to everyone, and even if amazon smartphone doesn't end up being a blockbuster in terms of market share, just to even capture that product for its customers is something that's important for it to get into. i think amazon investors have gotten used to these things not

being profitable in the near-term. then again, they have a lab that has 1,600 employees, this lab 126 that's developed in the pantry wand and fire tv, and apparently has been sort of the breeding ground for the smartphone, too. they obviously put a lot of brain power behind this and obviously think they know what consumers want. >> by the way, jon, not just the smart money roger's referencing that's skeptical. look at the tweets from john ledger at t-mobile, also skeptical about the success. not pleased that amazon is pursuing potentially an exclusivity agreement with at&t. hope amazon doesn't fall victim to to the at&t curse that is the facebook. are you hearing what therapy alluding to? nobody expects amazon to make in-roads here? >> maybe sour grapes. investors need to keep in mind, amazon doesn't need a blockbuster here. this phone doesn't have to be a suction in the conventional sense and probably won't be,

because it's going to be very focused on amazon's core customer, not the broader smartphone market. so to keep in mind amazon doesn't need to sell a lot of these. they probably won't tell us whether or not they do or not, because they generally don't break out numbers on hardware sales. not trying to make margins on this. they need to make this so prime is cheaper for amazon, access to a cheap are pool of money. wall ut and finally they need to increase share of wallet and digital goods, more music downloads, more video streams, they might even be able to subsidize data plans in this. that is the play here for amazon. >> roger, how significant is this 3d technology, that potentially is evolved with this phone? >> to me, i truly think it's a mistake, and if amazon really wants to gather customer data and give a more pleasing shopping experience, they should have gone with a plain vanilla android phone and made it as compatible as possible so that

applications and other activities that people do on android phones would be available. by pursuing this lone wolf strategy they're basically going to minimize the opportunity, and to me, again, if i had shareholders that would let me do this kind of stuff i'd probably do it also, but i don't think if data gathering and more shopping is the answer, this is not the -- at least based on what we've heard so far, this would not be the right way to go about it. >> this is a plain vanilla android phone, though. running an older version of are android, which many android phones do, by the way. able to run apps out of amazon's app store. this isn't a huge departure for them. the 3d as described won't work in a way that drains a lot of battery life. so that-of-not a lot of down side for them here. economies of scale from kindl and from fire tv and on the component side. >> roger? >> you know -- you may well be right.

i look at this, and my simple observation is that you know, again, amazon is a retailer. it has extraordinarily high earnings multiple and this is not going to help earnings, and it just -- to my mind, it will -- we'll see what, but i don't think this is going to turn out to be that big of a deal. >> skip, duly noted. we'll find out in a couple of hours. check out david faber's documentary "amazon rising" premieres here sunday june 29th, 9:00 eastern. and up next, on "closing bell," covered so much ground including tesla, the future of space travel. you have to hear, though, what musk had to say, artificial intelligence. take a listen. >> it's really, i'd like to just keep an eye what's going on with artificial intelligence. there's potentially a dangerous outcome there, and we need to -- >> dangerous? >> potentially, yes. >> how so? >> movies about this.

like terminator. >> even if that's the case what do you do about it? what dangers do you see you can actually do something about? >> i don't know. >> why did you invest in vicarious? what exactly does vicarious do? what do you see it doing down the line. >> recursive network emulating the human brain. and -- yeah. so i think -- yeah. >> you want to make sure that technology is used for good and not terminator-like evil? >> yeah. i don't think -- i mean, in the movie terminator they didn't create ai to -- they didn't expect, you know, some sort of terminator-like outcome. it sort of -- like that monty python thing. nobody expects the spanish inquisition, but you've got to be careful. >> roger, elon musk used the word dangerous. you've got to be careful. do you care his concerns about ai, what's happening in the space now?

>> i honestly don't spend any time thinking about it at all. listen, were e live in a here and now world, and there are enough gigantic issues. i'm much more focused on what he's trying to do to create a new spacecraft that would allow us to have our own systems to put astronauts into space. >> wait a minute. but are you -- i hear what you're saying. isn't the point, though, this is happening? how well aware are you of what some of these firms are doing, in other words, somebody's got to be watching the farmer, the shop? actually what you're saying makes me more concerned. >> what i'm saying is, in a world where we have the nsa looking at everything that we do, where the government is spending hundreds of billions of dollars on fighter planes that can't fly, and where we're starting wars in countries we can't possibly win in, seems to me worrying about ai goes off -- it's irrelevant. >> for such a noted visionary, like elon musk, to sound genuinely terrified. i mean, he sounded terrified

about artificial intelligence. >> big deal! who cares? >> even after he invested in this company, and talking about building cities on mars, that humans could get there in 10 to 12 years but there would need to be cities there first. kelly made a joke about retreating to mars. he said, no. they'll follow us there. sounded genuinely terrified. at what point do the likes of some of these operating systems that have started to think for themselves and anticipate our next move actually begin to be alarming? >> listen, i think the whole world is alarming. but seriously, i don't think just being a billionaire means that the things you think out loud are important. [ laughter ] >> don't sound like you have a lot of respect for elon musk, roger. >> that's not true at all. i have enormous respect for elon muvg, but you're the guys who put him on the air to talk about ai. again, i think what he's doing in automobiles is amazing. i think what he's attempting to do in space is really, really important, and i would keep your

eye on the ball there, because those, those are issues that really do affect the country, and he may be right about ai. it's just that i would like to worry about the problems that are killing us today as opposed to the ones that may kill us in 20 years. >> i've got to agree with roger. elon musk didn't seem that worked up about ai. interesting to me he seemed scared of it yet funding it at the same time. maybe that's keep your enemies closer. i don't know. >> roger, let me put it this way. at what point, if ever, do you become worried about ai? or are you taking issue with the whole terminology? >> well, i'm simply saying to you that, if you want something to worry about, you know, just read the newspaper. >> i hear ya. >> you know -- there's a good chance we will have polluted the earth beyond repair way before they can get any of this ai stuff to work. so i'm looking at it and going, seriously? let's keep our eye on the ball. as investors jobs are to look at

what's actually happening and what is most likely to happen, no the to worry about things that are either beyond our lifetime, or where the impact is so subjective and so hard to ascertain, that it won't matter. >> we've got to moonk ve on. appreciate your thoughts. our thanks to roger. co-founder of elevation partners for joining us. by the way, a gig this saturday and sunday in oregon. roger, sounds like people will be able to catch you performing live, where? >> so we'll be playing in bend, oregon, at the festival and wilson, oregon. you can watch the show live on moonellis.com. the sunday show's at 6:00 p.m. pacific time. a nice, easy time, even for the east coast. >> terrific stuff. good to see you this morning. roger, thanks. >> my pleasure. we want to get a check on the markets as well this morning. the dow loss is accelerating, down by about 45 points. the s&p holding close to the

flat line. 19 new s&p 500 highs. no new dow highs in the market today. the nasdaq, slight losses down by just 0.1%. investors waiting for remarks from the federal reserve this afternoon on the state of the economy and what they will do with interest rates. check out yelp. able to send questions now directly to businesses. offering a way to resolve service ish ussr. the stock was flat at the open this morning, and is now well into the green on that report of better than 2%. also, take a look at fedex rallying after earnings came in better than expected. fedex ceo fred smith joins kelly on the "closing bell" this afternoon. that interview will start live at 4:00 p.m. eastern. we're also watching general motors today. a quick news alert for you. you're looking now at live pictures of gm's ceo mary barra's testimony before congress right now. of course that is expected to take place throughout the morning, and prepared remarks,

she listed seven detailed actions the company has taken in response to that recall investigation. she says it's not just another business challenge and we'll bring you any important updates there as it happens. kelly? coming up, money in the cloud. the ceo-of of adobe, how cloud leading the way forward. plus, call it the big pen bull. the unlikely partnership, and an apple bombshell. the cheapest imac popping up almost out of nowhere on the apple app store, and everybody at home, your chance to be a part of "squawk alley." later this hour we start asking questions that you the viewer can vote on and see the results live on your screen. all you have to do is held to the cnbc.com/vote, and your computer phone or tablet to get involved. get ready. the questions are coming soon, and "squawk alley" is back in two.

adobe systems up right about 8% today reporting better than expected corporate earnings in subscription sales, creative cloud, marketing suites and other items. ceo of adobe joining me first on cnbc here with "squawk alley." so, shantanu, quite a bit to go through. seemed like one of the reasons for the upside in the quarter was actually people who were trying to buy the old version of create kiv suite ahead of that expiring. you're not selling the non-cloud version anymore. does that mean that you expect

any slowdown in cloud growth? because some of those potential customer, buying the older version? >> no, jon. a strong quarter all around. as you know, the subscriptions, we had 464,000 and talked about accelerating in the second half. marketing cloud continued to do really well. that's another big growth initiative, but as you pointed out, there was a fair amount of enterprise customers buying cs6, the last quarter for licensing expires. >> so you've got some big announcements coming at 1:00 eastern today. that's why you're here in new york. you've got something in your hand there that i believe is part of that. tell me about it. >> well, jon, we are introducing, you know, first hardware product for adobe, and it's -- you've seen the stylers and the ruler that we've talked about before, so it can slide and will be on the way later 0 today. a lot more announcements.

we reimagined the process completely. desktop complicatioapplications exciting time at aboeby. >> -- adobe. >> something you alluded to, the elements for the customer. what do you expect to do and how big -- using simple tool, filters to do effects on their photos. how big is the market now? >> mobile is definitely a tailwind for us as well, jon, and what we have seen is with the photo shop and light bundle, everybody who likes photography, it's the best product on the market. available with constant updates, support for new cameras, new phones, new devices. so, yes, the creative cloud is a great platform not just for creative professionals at the tip of the pyramid but for anybody who wants to create. >> ask about marketing's doing well up against oracle, sales force, trying to deliver big data information to your

customers. what's going to give you an edge going forward as investors try to place their bets on who's really going to succeed there? i've heard to expect some consolidation in that market? >> jon, ooo-ey think marka i th the most available in software today and we're the leader. over a $1 billion business. growing at 20% and talked about bookings growing at 30%. i think we have the leading products in the market and we have an efinty. marketers around the world, digital, irving replanning the infrastructure. >> now that it's up quite a bit? >> we continue to do both organic innovation as well as organic acquisitions's we think we have the right platform, it's an execution. i think we have tailwind behind us in both growth initiatives, in media and marketing and it's all about execution. >> you had doubters, but inve

investors certainly betting with you now. shan't tu narayen, thanks for joining us, a quick market pl h flash, dom? >> stock soaring following a suntrust note suggesting that allergan could build for the company. that's right. allergan could buy shire. a hostile offer for allergan consisting of $72 share in cash and 8/10 in value. expiring on the 15th. overall, the nice move for at least one soap opera that could be developing according to analysts osier at suntrust. back to you. >> a new chapter. thank you, dom. coming up, the gridiron, digital currency behind college football and plus all of you

watching, i don't chance to be part of "squawk alley." >> announcer: got all the answers. now you can make your voice count, on cnbc live. go to cnbc.com/vote right now. let us know what side you're on, at cnbc.com/vote. ♪ ♪

♪ great rates for great rides. geico motorcycle, see how much you could save. they challenge us. they take us to worlds full of heroes and titans. for respawn, building the best interactive entertainment begins with the cloud. this is "titanfall." the first multiplayer game for xbox one built and run on microsoft azure. letting gamers around the world interact in ways they never thought possible. this cloud turns data into excitement. this is the microsoft cloud. you wouldn't have it she any other way.our toes. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready.

and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about experiencing cialis for daily use and a free 30-tablet trial.

european markets leading from the fed. bring in simon to tell you what else they're watching. >> european markets, flat as a pancake, await the feds and everybody will watch on the worldwide networks of cnbc. interesting today, minutes from the bank of england meeting two weeks ago, and carney, the bank of england governor said last week. surprisy they thought two weeks ago, no rate rise in the uk this year. obviously the markets moved in the wake of that. sterling very close. 60 cents shy of its all-time,

beg your pardon. bad error. sterling is 60 cents shy of its five-year high. i was going say all-time. it's five-year high. one of the biggest house builders, berkeley, we say in the uk, barkley. higher interest rates for london, because pricing are, so strong at the moment. up about 11% across the country year to date. also incidentally attacking the government for thin attempts to cool down the housing market by reining in through the bank of england lending in certain instances. and a quiet corporate day came through with their results. actually the strong est quartery growth for the retailer. opening now ten new online markets around the world this year, and can we hear from the cfo? no. back to you. >> we'll look forward it on mine, simon. thank you. coming up next -- >> all part of the service. >> a bombshell.

apple releasing the cheapest imac so far completely out of the blue. behind exactly what the company is thinking. we've been telling you all hour, your chance to be a part of "squawk alley." in a moment, we'll begin asking questions you the viewer can vote on and see the results live here on television. head to cnbc.com/vote and on your computer phone or tablet to get involved. get ready. the questions are coming, right after the break. you're watching "squawk alley." seeing the world in reverse, and i loved every minute of it. but then you grow up and there's no going back. but it's okay, it's just a new kind of adventure. and really, who wants to look backwards when you can look forward? when folks think about wthey think salmon and energy. but the energy bp produces up here

creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies.

welcome back. we've been telling you all morning, introducing a brand new way for you the viewers to interact with the show on "squawk alley." gives you a chance to vote on the many topics we talk about in realtime. indeed, voting starting now. head to cnbc.com/vote. do it on your computer or any mobile device. let your voice are heard. we'll show you as they happen. joining us, a former tech reporter at the "wall street journal" now founder and editor-in-chief at the information. julia boorstin in the house as well. welcome to you both. get to it. amazon will they reveal a smartphone today? this is the question. go to cnbc.com/vote and let us know your thoughts on it. expected to take the stage for the big reveal. again, we expect it's a phone and asking you the viewers to

ou sonde out of on cnbc.com/vote, sound off about the phone. >> it's been in the works so many years. amazon has been at this for a while. i think it's exciting what they're going to come out with. we know the specs. they always get leaked. seem pretty standard. you know, it's hard to really see this moving the needle. if you look at kindl sales, kindl fire sales, you're talking small market share, and you know, i think that the burden's really on them and i think it would be cool to see what happens but not predicting a game-changer. >> roger echoed that this morning, julia? >> interesting it comes a week after the amazon music. another content play trying to expand the benefits of amazon prime. so amazon wraunts to keep people in its ecosystem. listening to music, buying games, and they're trying to do that with the kindl fire. also obviously going to try to do it with a phone. interesting the amount of money they're willing to invest in

content facing off with content owners like warner brothers pushing back about those rights that amazon is looking for at costs that the content owners think aren't high enough. >> the 3d content i'm really looking forward to see how this actually works, because it just doesn't seem like something we the consumer would need. i mean, it sounds from descriptions by people like bradstone, wreet the book on amazon, something like nintendo wii. play games, make calls without actually touching the screen of your phone. certain voice recognition apps came out, who's really going to use it? in fact a lot of people did. wondering the same about the 3d technology. what exactly does it do? what can you do with it? >> and eye tracking. >> am seung released eye tracking technology. great for selling sort of tv ads to have cool footage. not sure how practical it is. >> a couple things it could do, give amazon information how people are using the product,

amazon's investing in gaming. used there to differentiate the platform and looking at products. >> watching this bounce around at the bottom of the screen. voting closed. here's what you think about forking out for an amazon smartphone. 57% saying, no. 43% saying, yes. see if that changes after amazon actually announces the details. next question, whose products do you trust more? apple's or amazon's? interesting question. apple versus amazon. is this the essence what phone is all about or after two different objectives, ultimately. >> that question is something we should have amazon answer. it's a big question shareholders have. i think julia talking about services. services are more torreimportan amazon's business. apple is a hardware company, but an overlap as hardware commoditizes in software. the amazon phone, not just the

services. what do they do for maps, for search? what do they do for that stuff that other -- since this is sort of a forked android phone, it's probably not going to have the google services that are bests of breed. if amazon can't get those right, it's a no starter. >> probable look like a microsoft windows phone. using nokia maps, bing? likely to be the maps and services app. >> what is nokia apps? >> nokia maps. >> oh, maps. >> it's a mapping technology that microsoft uses. not bad. it's serviceable. interesting to see if amazon's customer base feels it's serviceable. >> happening right now, 2-1, amazon beating apple in terms of whose products you trust more. does that surprise you? >> really surprising to me. all the apple products i own, in our household, there are a ton of iphones, iphone touchesed old ones we've repurposed for other things. the only amazon device is a

kindl. i don't have a fire tablet and feel the people i know mostly have a kindle, but also use the kindl app on their ipad. i think a lot of people are used to buying things through amazon, reading books through amazon but don't think of it as a device company. >> and acutely aware when amazon is tracking you. i had them match a price on walmart going back to the site. wow. they're following me everywhere around the internet. >> yes. lest there was doubt. take a look what's happening with voting, still seems as though by quite a wide margin, the vote for amazon instead of -- >> didn't apple come from behind in the voting? >> can we show it, joshua? no. moving on. apple, pulling, launching a new product. a cheaper imac. we want to know, sound off, cnbc.com/vote. who's still launch was better? beyonce's or apple? jessica?

>> sorry. beyonce. hands down. apple stealth launches are when the products are just kind of, ah -- not is a say, a cheaper imac is a great product. in apple, the extreme fanfair and the sort of everything else for what doesn't make the bar. >> sounds like it has less storage, and it's just not going to be as fast as the higher priced i placke. -- imac. $200 difference. will customers pay a little more for -- >> auz have to have the bottom end product to get people in the door. going for the lower end pc products. weaker grac eer graphics, but tn hunters will find it. >> is it cheap enough to get them in the door? >> it is for right now. >> cheaper iphone interesting, tim cooke, loves mac stats and loves to show apple the growing market share and pc in the rest

of the market isn't. apple store, sold 80 million macs to date and 43 million iphones last quarter. hard to get, you know, again -- i think it's a cool product, but certainly not what apple shareholders want to see. >> not actually trying to bull a beyonce. >> we talk about the demise of the pc and the demise of the desktop. the fact the upscare apple brand now has to cater to the low-end, lower end consumer in the desktop space and is doing so with no fanfare whatsoever. does that basically mean this is going to be a no fanfare base? >> no. mac mini, catered to this segment and launch it quietly. >> they do. >> true. here the voting is closed. what you ultimately had to say about this one. sorry, b. apple gets 57%, to beyonce's 43%. >> surprising. >> beat amazon on the last question, let the record show. they did.

>> thank you very much, intrepid reporter jon fortt. thank you for riding along as we work out this new voting thing. kind of fun. >> interactive tv. >> yes. finally got there. up next, speaking of interactive tv. set your dvrs. ex ex-clu ex-clues -- exclusive of snapshot, coming up. and thinking about central banks and the winding down of the biggest intersection of the free markets in history. that, of course, quantitative easing, and the big number i'm going to discuss after the break, 1.97 trillion. what is 1.97 trillion? well, it's a big number, but to find out exactly what it is, come back after the break.

in today's market, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price, maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today.

coming up at the top of the hour from right here at the new york stock exchange with hours left to trade before the fed decision, how can you best position yourself? we've got all of the angles covered. and john najarian fints another case of unusual options activity. stock moving bictime on it. revealing what it is coming up, and a california mayor really steps in it this time. find out why he's created a big stink in our worst trade of the

day. that and much more straight ahead, as i said from right here at the knock stock exchange at post nine. see you there in a bit. >> looking forward. and the disrupter 50 list is out pt's one of the 50, snap chat ceo not available for an interview pb in sprue snap chat fashion, ten seconds to respond to his company's being chosen. we'll play this once and only once and it will disappear like so many snaps before it. >> we appreciate you including snap chat on your disrupter's list this year and wanted to send you love from venice. >> all: thank you, cnbc! >> and there you have it. now let's over to the group, rick santelli, a fan of snap chat. rick? >> i'm a fan of anything that can pull its own weight on a balance sheet. okay? so if all of social media will make the companies grow the real way. finewhat i'm looking at today, how balance sheets are growing in a very unreal way.

1.97 trillion, i love saying trillion, with a t. what is that? that's the dollar equivalent of the bank of japan's ownership of their own debt market making them officially, the data as of march, a little behind, they are now officially the biggest holder in insurance companies, the lifers, of course, always holding on to the longer term securities, especially in japan, are now second. so just a whisker less than 2 trillion. our most's recent number on our 4-plus billion number sheet for the united states federal reserve bank is a be to point to 5 to 27, just shy of 2.3 trillion. not much disparity and the fed leads the pack with china coming in second and aforementioned japanese third under the federal reserve. what does it all mean? a couple people on in the last several days that worked at the fed or write about the fed.

one common denominator i have with them and my own personal opinion, not only the big efs central banking experience of all-time, the biggest kind of interloping in the free markets in the united states by any entity in history when you consider the quantitative easing purchase program. and while that's gigantic, the amount of research done on the cost benefit analysis is about like that. okay? now, this really is a bit of a smoke screen, and i'll tell you why. because while we talk about the winding down of this program, and it's probably going to be $35 billion a month, we're taking our eye off the bigger ball. zero interest rate policy. in zerp, i understand why we do it, i understand sometimes you need to prime the pump, but this many years after, to consider this program in a normal environment like this is normal operating procedure, whether it's bernanke or jand yellen, that's the part we yeed need to

on. it's not normal. it's extreme. this behavior is extreme. back to you. >> duly noted, rick. thank you. putting the gas station out of business, where will you pull over and charge all of those electric cars? charge point has the answers, next. marge: you know, there's a more enjoyable way to get your fiber. try phillips fiber good gummies. they're delicious, and an excellent source of fiber to help support regularity. wife: mmmm husband: these are good! marge: the tasty side of fiber. from phillips. [ male announcer ] it's one of the most amazing things we build and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. building something better for all of us. ♪

...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare. that's why i always choose the fastest intern.r slow. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator.

the fastest speed dial. the fastest office plant. so why wouldn't i choose the fastest wifi? i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. welcome back. introducing the cnbc disrupter 50.

shaking up the status quo threatening public giants, today digging deep into chargepoint. before its ceo joins us on-set, julia boorstin xplaexplains whae company does. >> reporter: put your traditional gas station out of business. the company started building a network of charging stations in 2007, and now has more than 17,000 places to charge cars on four continents, and more than 2,600 customers to date. including target, whole foods disney and a number of parking service providers. chargepoint sells as charging stations where drivers can plug in plus cloud stations for other stations. at the market for electric vehicles grows, chargepoint is expanding its focus to include the residential market as well. fueling that growth, $112 million in financing from bmw, toyota and venture capital and perkins among others. >> joining us now on-set,

chargepoint ceo pascual romano along with our own julia boorstin. congratulations. what is next for you? what does growth go from here? >> we're just scratching it's surface now with respect to the electric car industry in the united states. so we've attempted to make a large beachhead, and workplace and around town charging to incense feel buy electric vehicles but the future for us is expanding into home charging. so we can ground out our service to the driver and also expand greatly in long-haul fast chargers. so when people want to take long trips they have the ability to fuel their car quickly. >> these superchargers, the idea you'd be able to drive across country and stop and quickly recharge your vehicle. how many of these do you have, and how many do you need to have in order for people to feel comfortable really investing in an electric vehicle? >> a great question. about 83 now that are on our network. we're adding them at a furious

clip. it's a big focus for us, and it's surprisingly in the united states, you don't need -- you don't need hundreds of thousands of these. you need on the order of tens of thousands of these to really get coverage in the highway systems that interconnect cities. for smaller battery vehicles, what we're also doing is taking advantage of a lot of our customer sites. where we're going to be putting in smaller capacity 23569 chargers to get your nissan leaf to napa from san francisco easily. >> what about tesla opening up as ittants and others? is that an accelerant for you and the business or an inhibitor if people end up working on a different network? >> well, what they're doing is awesome. i think we all need in this industry to pull together and realize that making the pie bigger is the right thing to do, and i really applaud what tesla has done. we are fully complementary to tesla and vice versa. our fast chargers will most of

them, anyway, will charge a tesla with the new adapter that tesla has and in the future we'll make sure we can serve tesla vehicles just as easily as we can serve any other vehicle. >> to put it in perspective. 17,500 locations, just shy of the number of starbucks locations, in this country. people hang on the number of same-store sales and how profitable and how popular some of the retail outlets are doing. wondering for technology that's placed in a location, are you profitable immediately? how do you gauge sales on your actual device? >> that's an awesome question. the -- we like to say that ev charges is good for business. the reason, much like in the gasoline industry, you don't make much money on the sale of gas. in a retail location, but you attract great customers to your business. you sell them other things. for example, at a costco, i'm sure they're welcoming those people into their store. the same thing goes with ev charges.

our retail customers are using it as an incentive to get those customers into the stores and to stay longer. >> leave it there. pascual, thank you for being here. as you disrupt the auto industry, as so many are doing. appreciate it. coming up, tailgates. 90,000 fans screaming at the top of their lungs, and bit coycoin. how it's coming to college football. ♪ ♪ over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening, they don't want to just see what's happening, they want to know and understand why it's happening. anybody can just put data up,

but we want to get a reaction, make it far more interactive. we rely on the cloud to provide that immersive digital capability. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. it's calledew way truecar. car.

and truecar users save time and money. so when you're ready to buy a car, make sure you never overpay. visit truecar.com today. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter.

>> announcer: last year, disrupter 50, who op this year's list could meet similar success? the cnbc disrupter 50 continues today on cnbc. welcome back with the dow up 37 points as we wait on the fed decision this afternoon. let's send it over to seema mody, what's moving at the nasdaq? >> down day here. the best performing stock on the s&p index for tech, adobe. auto desk and net app, siri xm and announcing the amazon app store available on blackberry 10 iphones, a broad are selection of apps including pinterest. keep in mind, blackberry set earnings tomorrow. the strategy, turnaround. and yelp on the move, reporting

yelp users able to access businesses directly. back to you. >> thanks for that, seema. bitcoin, meet college football. the annual bowl game in st. petersburg, florida, the brady's bowl for the past few years. starting next season, that game will become the bitcoin st. petersburg bowl. the first-ever major bitcoin sports deal and it comes after bitcoin payment processor bitpay signed a sponsorship deal with espn. a look at the official logo for the game. sent to us by bitpay. looks fairly straightforward. looks like other bowl game logos. the game will air on espn. buy tickets and merchandise with bitcoin, through bitpay's processing sevrv servicer, and bitcoin will go away. sponsorship 4r56lasts through 2. around 24r50e69 until then. >> like the skyscraper index. soon at the company logo goes on the stadium, it's time to sell. >> but it's not a stadium logo.

kind of like -- doesn't frito's have a bowl -- >> frito-lay? >> bowl game name. >> tostito's. >> i know, my alma mater sometimes make a -- the belk bowl, the tire bowl, i forget what else. >> you would remember if it was the bitcoin bowl. the point of this whole enterprise. ship in it? >> yeah, and the residents of st. petersburg, who knows if it's a bitcoin -- >> can you bet in bitcoin? the question? >> thinking through it. are bets themselves illegal or just if you bet in dollars that it's illegal? >> i'm not a gambler. i don't bet. >> who's regulating this? >> let me put it this way. what is the overlap ultimately between the college football crowd and the the bitcoin crowd? >> i would guess, probably pretty high. by the way, that was an old school hip-hop reference, the i'm flot a gambler, i don't bet, for those also -- in new york.

>> over my head. sorry, on that one. >> roxane, roxane. >> good point, st. petersberg bowl. see how it is for this investme investment. that does it for us here. over to scott wapner and the "fast and furious" report. rates, risk and your money. with only hours left before the fed decision, how should you play the central bank's next move? rumble in the jungle. will amazon unveil a new phone today? and join in an already crowded market. the traders speak out what it means for that stock. worst trade of the day. a california mayor in deep do-do, over something he did to a neighbor. the story that raised a big "stink" and the fallout. that later. meet today's starting lineup. with us today as post nine. sean matthews, ceo of canter fits jared here as well