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welcome to "squawk alley" on this friday morning. what a week for tech it's been. a lot to talk about. joining us, co-executive editor and here as all, jon fortt, kayla tausche. start with alibaba. under the ticker baba. company expected to start trading in early august. august 8th, of course, rumored date, because the number 8 is considered lucky in chinese culture. in fact, ba means 8. no mat whir it goes public, alibaba expect to do be biggest

i'm of the yea i.p. of the year. what struck you with the news that came out yesterday? >> well, no. just they've picked one of the two. i think they were talking to them to the very end, and they just -- the fact this is i think the big news, how big it's going to be what it will do to the tech market. if it's going to reinvegerrate. a lot of tech stocks down of late and had a hit. this might reinvigorate investor interest in the tech companies. >> on the flip side, the fear this could be the deal that actually kills the market, because it will sop up so much demand from the buy side here. when you think about precedent and you think some of the biggest ipos that have happened, they've pretty much come to the nyse. gm, $21.10 billion. visa, $19 billion earlier than that. also traded here at the new york stock exchange. twitter smaller, the one that gets referenced. nasdaq doesn't really have that much experience with giant volume when talking about some

of these massive deals. >> absolutely. this is going to be $26 billion, they think. may raise at much as $26 billion, a huge amount of money. interesting here is there isn't actually very much stock available. there might not be much. wait to the twitter ipo, most of the stock available what yahoo! has to sell into this. is required to sell its stake into this offering. otherwise, it's not clear how much stock will be available. >> not a lot of new stock but a lot of stock just in general. part of this a secondary offering coming from yahoo! and others. a lot of investors that got in on this along the way, kara. certainly a lot of sheer stock volume in the amount of shares ended up having to be traded and changing hands ,hands. >> it could el vamt tevate the .

it's a juggernaut, i think. >> kara, last time -- not last time, one of the last times we talked you said you everyone inner know which way the ipo market will go. maybe peter out, maybe not. we're closer to summer now. heard about box reinvigorating its ipo plans. how do you feel about the ipo market and what you're hearing out there as far as how companies are looking at it. >> i had an interesting meeting with a couple of banks this week. spending a lot of time with banks. they're a little weary where investors are and everybody is in alibaba, up a the banks, or a piece or a part of it. feeling the m & a market is much more interesting to them. at the sail time, looking to see what will happen after al you baba and then everyone will go to the hamptons and start back up in september. more interested in the m & a market now, that i can tell. >> do you know ama very well and

to what degree will we get to know him? >> i think not as involved. a lot of people here. joe sy, someone i've known many, many years. he's an important figure in this company. it's a very distributed company in terms of power. i think jack will be around. he separated himself a little from alibaba, taken time off and lived in california, actually. he's an intriguing figure and aggressive, yet he's very much beloved in the company. kind of like a bill gates is at a microsoft. an ionic figure within the company. at the same time, a lot of powerful executives running that company in each of its giant divisions because it's so big. such a big company compared to so many u.s. companies. >> partnership that nominates the majority of the board. a lot to learn about baba. >> he's great. apple joining the list of companies to connect to your home. apple exploring internet connections for your home.

could be speaker systems, control panels for your home. and slashing prices permanently signaling the iphone 6 is coming soon. jon, like most you believe this will be one of the big events in tech of the year? >> it will. intriguing about this report of apple looking into the home, it seems apple and google of taking different strategic tasks here. people care about the individual devices. thermostats, smoke detectors. there doesn't need to be one centralized hub or management experience for all of that. at least not at this point. interesting to see if apple take as different position after all its had itune, the app store. it's tended to be more centralized in its approach. if apple comes out with some device or control panel, the approach will probably be different than googles, i would guess. >> a report out yesterday from goldman sachs, they painstakingly went through the internet of things and you a the various industries we could see that.

industrial, the health care, in the home, in the car, if you can get your hand on the report it leads like a novel. it's great. when they talk about the home and entertainment systems specifically, they list sonos. samsung. apple isn't in there. you wonder, ge, honeywell, samsung. companies trying to make these products a lot longer, you wonder if they end up having a leg up at some point. what do you think about that? >> i don't think it's true. i think they've been puttering around in the area. they work with a lot of these devices. apple works with sonos, all the different devices work together but haven't established themselves as the go-to company. i think they'll attack in this software mendology. n n not -- meddlology. you don't see them making a router in the home. i don't see them -- i see them working with people, having a system, home system, more than anything else. again, google versus apple

world. you're going to live in one of them and your home like that, car like that. also apple works well within cars now. do a lot of syncing stuff within cars and especially high-end cars. that's where the battle is. which system will be use and almost like, are you the reds or blues kind of thing. >> i keep thinking back to the coat conference and eddie q saying the pipeline is the best. a lot of people believe the new devices are just going to be a sign post on the way to that pipeline that q was talking about. >> i think there's going to be a new iphone, no question. bigger, a different shape. and i think these watches will come out, or these devices that are on your hands and the held stuff. but they have to be in a lot of devices. apple can't make them all. their software has to work, like itunes on windows for computer. critical to have itunes. the big deal, even though there were a lot of apple computers, there were more windows

computer. they have to play everywhere if you want to be part of this. >> youtube going after kickstarter. plans for a new feature called fan funding, let's you channel owners make money soliciting donations from fans. youtube will test it soon. a limited numbers in the u.s., mexico, japan and australia. we know about the capital that's behind youtube, kara. how easy of a target is kickstarter to take out? >> very. i don't know. i think all of these things are super interesting. google has not taken out a drop box yet and haven't taken out other things they've been in. it is a natural thing for them to do to try to encourage more good content on youtube. this is what they're approaching. already tried it different things. had universities have had to use youtube. funded companies giving money and investment. this is the next step down. encourage people to create youtube. the world's biggest video network.

if think don't have material, they won't do as well. makes sense to do it. we'll see. it's good for content creators, i guess. all of these offering are good for them. i indi gogo is good, too. >> people don't come to youtube to finance things. that's not the main purpose. you get internet services trying to tack something on, whether facebook or google or others, people don't exactly get the uptake quite so well. we see that with facebook trying to disrupt senate chat, with foursquares, others. we'll see if it catches on and how they incorporate it. the payment process isn't built that way into youtube quite yet. >> they're trying to expand google wallet any way they can. sounds more like a competitor to vimeo, a company we talk about that has very high-def well-produced content and let people fund projects.

kara, wondering, is this a motivating factor to get more people to create content on youtube that aren't already? >> yeah. youtube is still the biggest player by far, by a massive amount in this area. they want to keep people on the network. yahoo! trying to pull some of the youtube stars often and 2 helps at the bottom where they bubble up. you can't figure who's going to be a hit a lot of time. although there's a sense of it. they have to be able to create and environment where these smaller players can bubble up to become bigger and bigger players. it makes sense to give as many tools as possible. either good video. all tinlds of tools. not just money. an idea of better tools. i think susan wasichski announced a series of tools. youtube reminds me of library books stred on the floor of a library and you kind very to find them. they need to make it a better environment for creators to create and yuse it. makes sense to me. trading into the red, dow

down by about 20 points. nasdaq holding on to a few points of a gain. s&p down by just a fraction of 1 point, dow and s&p on track tore weekly loss. we saw a slight uptick in consumer confidence today. of course, that reduced profit outlook from dupont giving investors pauses wondering what exactly growth will look like for the rest of the year. also watching shares of dollar general slipping this morning after the company's krea plans to retire by next year. the company is currently conducting an internal and external search for a new ceo. dollar general, currently worst performer on the s&p. down nearly 8% on the day. on day two, investors still liking gopro. that stock up another 25% today. seeing a close to 50% gain since going public. kara, your take on this. i was at the nasdaq yesterday and got to talk to a bunch of the executives there and ran into nick woodman, the ceo and founder when i was leaving.

he was going through each of the headlines reading them out loud saying he was moved to tears by the performance and support from the company and his family. it's a great american story. what does it look like as a public company in your eyes? >> i don't know. tony bates, a terrific executive for microsoft and other places, skype, went there. an interesting thing. i don't know. a popular thing and i think this idea of moving these devices that move us out and allow us to share are interesting. seems a little frothy to me. but i don't know anything about why stacks go up or down. i couldn't tell you why it's gone unso much. i have no idea. >> interesting to hear the skepticism in your voice, kara. people talking about valuation, especially after this gain today. have a great weekend. see you next time. kara swisher, thanks for joining us. all day here on cnbc helping you position your portfolio for the second half of the year. monday marking the last trading day of the second quarter. your cnbc's julia boorstin way

look what to expect from social media. >> reporter: here's what to watch for in the social sector in the second half. get ready for the next generation of social advertising. instagram ramps up ads. facebook more narrowly. linkedin mobile content. social giants facebook and linkedin beef up their portfolios of apps rolling out more stand alone tools. keeping users in think ecosystems for everything. and the focus on privacy and protection of user data will only intensify as users scrutinize how much they're sharing. that's your second half social outlook. i'm julia boorstin. coming up, talking to the man in charge of all of the vc investments over at goldman sachs. the tech stocks rebounded. believing the bubble talk. we'll ask. one of the biggest names in arts and crafts going public.

michael's open for trade at the nasdaq. ceo will join us in a first on cnbc interview. talking to the interrupter 50 company, yahoo! is reportedly looking to buy for $250 million. dow's down 24. "squawk alley" will be right back. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. 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

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tech bubble burst 14 years ago, returns on venture and investments outpacing wall street's major indices. the u.s. venture capital index climbing 12% at the end of 2013 according to a report from the national venture capital association, and that performance beat the dow and nasdaq and s&p 500. even with that performance, the vc investors closely watching more recent volatility any high-growth stocks hoping to avoid another bubble and eventual bust. to discuss this exclusively, stewart bernstein, global head of the goldman sachs venture capital grew and clean tech and renewables group. thanks for joining us. >> thanks for having me. good morning. >> goldman sachs just had a venture capital summit this week. you talk to major investments on the vc side as well as venture backed companies. what was the sentiment out west when they look at the market and see some of these high fliers getting some wind taken out of their sails? >> first of all, a terrific

summit, and to give you a sense for why we hosted it, most people don't realize this, but three of the five largest market cap companies in this country apple, microsoft, going's, our venture backed. 25% of the top 50 market capped companies are venture backed, and over 50% of the companies going public over the last five years are venture backed. so there's a tremendous amount of innovation going on, in not only silicon valley but all areas where innovation takes place around the world and those technologies will be quite disrupted to existing technologies and industries. >> apple, of course, calls itself the largest start-up around. wondering, when you look at public markets here, nasdaq saw a steep sell-off from march and over a period of six weeks but it's valued at 22 times earnings. i'm wondering, is there talk in the valley this might be getting a little rich? >> you know, we had a discussion

about the markets yesterday. our president gary co-hen was there as well as the capital markets team and we looked where we in 1999 and 2000 verse where we are today, and as the super fishs level, of course, it could look like a bubble to some, because nasdaq is at a similar level. if you dig beneath that and look at multiples, it's quite different. for example, at the peak in march of 2000, nasdaq had a pe multiple, it's about 35 now, relatively high in regard to historical metrics but nowhere where it was before. '99 and 2000, a ub in of companies that were pre-revenue, certainly pre-earnings, why you had a xwued pe multiple. it's different now. companies are going public at a later stage, are more mature. have revenues, cash flow,

earnings. i think we see fewer of the bubble characteristics. >> using revenues as a crutch, not using gopro as an example specifically, for that, making a billion dollars. even for a $4 billion evaluation, seems conservative. is there a better way to value these companies to try and find value in this market, beyond just revenues? >> sure. i do. you know, any type of multiple is a proxy for other factors. for example, pe multiples a proxy for discount rates and growth rates. it's important investors do deep analysis and diligence and look at free cash flows, due do discounted cash flows. those that you mentioned are a proxy for the -- which most good investors do, and a number of specific met tricks associated

with different industries, internet or health care, important to determine the value of a company. if you're just looking at revenue multiples it is somewhat of a superficial approach. >> stuart, you spernnt a few da since that decision. a debate whether it stifles innovation or lends fear to smaller companies trying to disrupt because they're afraid that the supreme court policy in general is going to be in favor of the guys with bigger market caps. what's your best answer on that? >> well, i think there will always be legislative or regulatory issues affecting early stage companies. thankfully, the vast majority of them don't face that issue and all they're trying to do is determine better ways to -- to conduct business than we've done them historically. for example, one of the themes we focused on at great length during the venture summit was what we call internet of things. it's really the proliferation of

sensors, big data, analytics and trying to figure out in many different verticals how we can improve your lives and those verticals include running your house more efficiently. running your factory more efficiently. transportation. health care is another important segment. the last one is probable, the last two, health care and automotive, will face certainality of regulatory scrutiny and they should, but the others really will thrive independently. >> stuart, just scratching the surface. you have three decades of experience in this space. love to talk about privacy, where the new innovation is coming from thatlove to have you back to go deeper into the topics, if you'll come back. >> love to come back and join you. thank you for having me. >> have a great weekend, stuart. thanks again. >> talk really fast next time. that's the answer. when we countme back, michas opening for trade. sales flat performance, almost

exactly flat. ceo will join us in a first cnbc interview in just a moment.

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shares of arts and crafts retailer michael's debuting on the nasdaq today basically flat. trading at 17.01 now. yo joining us for the first time, good to have you. >> thanks for having me. >> congratulations. you're coming to market at this time, asking all of these questions about the consumer, about big buck spending. some of the sporting goods retailers haven't had great results lately. how's arts and the crafts now? >> great over the past number of quarters for us. in fact, for many years

michael's has been performing great, for 13 out of the last 15 years, positive comps and excited to be bringing that company back to the public market, because we think the futch sir brighter than the past. >> you filed for on ipo in march 2012. in that time people thinking you would go public during the ipo of that year. what's changed between then and now and how has your business be impacted bys fors meantime? >> our business is stronger. we've updated or strategy. we're much more focused on con tempizing this company. what we're into really is personalization. we sell pieces and parts that help people personalize whatever they want to make. and when you look at what's happening in society, that's really what people want to do. just look at social media today with pinterest and facebook. what people are posting are things they make, they have pride and authorship of and michael's is the destination to get all the things they need to

make those personal items. i think we've awakened more to that than a couple years ago and we're excited about bringing that to the customers. >> chuck, your stores are big, and you're carrying a lot of debt. how is technology disrupting the old michael's model? because it seems like there should be a day when you don't have to carry as much inventory, and if you still are you'll be left holding the bag? >> it's not quite that way. technology is by far our friend. not a threat our business. because this is a pieces and parts kind of are business where people want to blend things to make an item, they want to actually come into a brick and mortar store and see the yarn and the ribbon and paper and paint they're going to use to create something. that's why brick and mortar is so important. >> what's the risks, chuck, that they go on etsy or amazon to buy that product? >> we really don't think so. while amazon clearly is a competitor. it's an augmentation to what we

do. brick and mortar the foundation. remember, the phase we have nor business, we have more products, more choices for a customer. more value. and i think they can't do it as well as we can. >> had you happy with the morning trade? >> this is a marathon, not a sprint. happy to be back in public markets. worked hard to wait on customers and bring great service. we'll be happy in the long term as our investors will be. >> a long seven years. welcome you later on. chuck rubin, ceo of michael's. and back to simon. >> yeah. a week for european equities. dipped with a high surprisingly and also become apparent that $1

billion in euros, european equities, etfs, which is -- richer funds in etfs, not a lot but the first time we've seen it in the year. a headline level, that's about bar clays and the decision here in the united states to prosecute them for allegedly not telling clients they were encouraging the high frequency traders at the expense arguably of those clients. you've seen yesterday a lot of big banks servering their connection with barclays. for the week down 8% monday. of course, coming in front and center. we believe according to the "new york times" when they will be fined $9 billion over transactions with the sudan and possibly, of course, a ban from actually clearing dollars as

well. a huge logistical issue. the uk home builders continued to gain after the bank of england set new rules which probably won't rein in the housing market in the uk. a great week, you can see. finally, to brussels where the european union summit, heads of state, underway. earlier signed deals to extend european soft power to those areas in the face of what would be op zilgs frposition from rus. the bigger deal, the uk failed in its attempt to preventing a new commission president, a key leadership position for them moving forward. basically, this leads to more europe closer integration at a time when the uk would like less and would actually like to pay less for it. >> cameron, reportedly saying a sad day for europe. according to the telegraph just now. >> well, that's kind of what they would say.

euro skeptic lie nature. >> have a good weekend. >> you, too, sir. >> simon hobbes. when we come back, content maker, now a takeover. the disrupter 50 company yahoo! reportedly wants to buy for $250 million. about speeds and feeds. it's all about latency. it's all about how fast does it run. i often sit with enterprises who ask me about how mission critical and how's the performance of the cloud. and i tell them, if you can make gamers happy, you can make anybody happy. speed is made with the ibm cloud. starts at 6:30 a.m. - on the (vo) rush hounose.und here but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading.

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right now nearly 20 now, youtube creators advertise erg and fance gather at the annual

code on conference in anaheim, california. full screen number 21 on the cnbc destructor 50, manages youtube stars is there. showcasing its talent and the ceo, there with jewulia boorsti >> thanks. thanks, george, for joining us ear at vidcom. drawn interest from time warner, aol. are you interested in selling? >> the goal creating the next great meadia company, not el issing. we're going to keep building. >> is that fair? >> talking about the future of media. >> no answer there. talk about the business model. a management company for mutual stars. what's the business? >> think about a television network. operate on television or cable. the reality is video is moving online and full screen network

of channels on the internet. we have about 40,000 channels growing by about 200 per day. >> what's your relationship like with the big brands? do you have a hard time convinces them to advertise on your channels? >> the brands are creators, too. brands want to create more content to touch consumers and ultimately want to find ways to reach audiences and particularly young audiences. with brands, less about them advertising. more about them being creators themselves and programming. >> now, there have been reports that you're working 0en a premium sub stripgs service like hulu, but your your creators. how interested are you in moving away from reliance on the youtube platform? >> kind of a meme now. we love youtube. the number one platform of teens and millennials. people spend so much time on the platform. 34% of u.s. teens and millenn l

millennials spend time watching online. we don't feel the need to move off youtube and want to keep growing on youtube. 3.5 to 4 billion per month and want that to continue. >> you have to share share of your advertising revenue with youtube. how do you make those margins work over the long term? >> ultimately youtube provides a lot of scale, audience, ad sales, hosting bandwidth. a lot of value there. ultimately for us, it's about numbers. right? so one creator may work, if that was it, but 40,000, 50,000 growing four times per week. >> business strategy. is it important to bring your stars on to the television platform? or do you just really want to stay focused on youtube? >> it's a new medium. every new medium has new stars. these are the stars that

captured the hearts and minds of the new generation. right now it's about creating as much value as we can online's in some cases we help bridge the gap between online and television, online and film, but see a lot of value online as well. >> who's your competition? maker studios, just bought by disney or television in general? >> it's you guys. >> tv. >> yeah. >> you really think you're competing with all television? >> not really. i'm kidding a bit. it's really about intention. right? i mean, the media business is a business monetizing attention. only so much time in the day. right? got apps, games, websites, tv, everything. we want to capture as much attention as we can. want people to spend more time watching our videos and videos from our creators and monetize it effectively. i guess time. >> great. we look forward to watching agency you continue to build this next generation media company. back to you. you heard him, competing with you. >> julia, thanks a lot. julia boorstin.

when we come back, am zone already has same-day delivery in a lot of places. what about one-hour delivery? amazon says it's possible. we'll hear why in a moment. first, rick santelli, already talked to senator hatch. what are you watching? >> talking now about the escape hatch regarding credit markets. a lot of talk about a credit bubble, and i see interest ranlts continue to be on the low side. anything structurally wrong with the economy we immediate to pay closer attention to? we'll discuss what it could pake to turn the u.s. economy turn and and see rates actually move higher, after the break. they th. but the energy bp produces up here they th. 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.

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time for the trading year. it's almost over, folks and time for your "halftime" pep talk. breaking down winners and losers so far and sprucing up playbooks for the second half. looking for ultra cheap flights, a new airline launches monday. a bit of a bumpy ride in your portfol portfolio. wonder what makes a trader tick? i have. finding 0 the psychology of a trade. that and much, much more straight ahead on the "halftime report." make sure you join us, top of the hour.

>> thanks, mandy. amazon stole a lot of headlines with news it was developing delivery drones to get items to your house faster. as our own david faber explains, drones may not be the only quick delivery system amazon has up its sleeve. >> reporter: the undisputed king of online shopping made a vast's enterprise look easy. amazon now offers same day delivery in several major cities. think that's fast? nadya says, just wait. >> i think the true vision is one hour. >> reporter: one hour? >> one hour. >> reporter: that's not possible. >> we are going to have -- >> reporter: launch them from a chute somewhere? >> the same conversation in five years and see what happens. >> reporter: whether that happens by drone or some other mind-boggling means, the point is clear.

bezos refuses to think small. >> make sure you check out david's documentary, amazon rising, premieres this sundays 9:00 p.m. eastern right here on cnbc. can you imagine having a chute where all of your packages just came from? >> one-hour delivery, sir possible. uber is doing it in new york city right now. the question, can you aggregate demand enough to turn that into a business model you can replicate across a bunch of urban areas? we've said many times, local delivery and logistics, going to be huge. >> the locker es part of that strategy, that didn't pan out. how else will they get there? >> i have no idea. seek pigeons in new york. so many sitting around not doing anything. >> looking for work. to the cme group. rick santelli? >> hi, carl. tell you what, can't wait to see the amazon documentary. david faber does the best. i still watch walmart every time its on. listen, when it comes to the markets, i'm tough on the data.

and i try to be objective with the data. today, we're going to err on the other side of it. one thing about the u.s. economy, it's underperforming, but its performance outside of the last quarter is still to the up side, and with regard to what's going on in the rest of the world, we know the relative argument that we're not doing our potential, but it certainly is, isn't what we see in europe, where the economy is underperforming plus. but, really, what is at the epicenter? you know? i have been pretty consistent i don't think we'll see 4%, even a 3.5%. i think growth will remain under 3%, but what would make that xwlang i think the u.s. economy has more right with it than wrong with it. how can we rationalize a 252 yield, record high equities and job creation even though there's issues, structural issues, with the under and unemployed?

what would make things changed? what would give us a higher interest rate? what would make myself and all economists get along bet jer i'll tell you what it's all about. it's about policy. it's the only thing thatic mas sense plt the underperformance has been rather consistent. so it isn't so much the economics. it's more about the policy, and policy, whether we like it or not, and i don't like it. i wish we could go back to the pre-crisis, markets weren't so partisan. the market are the markets, burt it's about politics. so what is the point of the santelli exchange today? if you are looking for a more rational credit market, what's going to have to change, policy. and we've all heard. whether it's firms that don't want to hire more than 50 part-time, whether it's the affordable care act, corporate taxes, all of that, policy problems. which means if you're looking to sell interest rates and actually make money for the first time in years, my guess is the timeline

for interest rates is going to corollate with the political calendar. the chronological order of you. you voting. because the only way policy is going to change is with voter change. so if you're looking for a 3% ten year, you most likely have to see some incumbents leave the stage. watch politics, because that's the only thing that will change policy. back to you, kayla. >> all right, thanks for that, rick. always a good reminder. rick santelli with the santelli exchange. when we come back, facebook released diversity numbers this week. there wasn't much showing the stat to be mostly white and asian males. the lack of diversity at facebook and in silicon valley in general a big deal? we'll talk about that when "squawk alley" comes back. [ fem] we love our smartphones. and now telcos using hp big data solutions are feeling the love, too. by offering things like on-the-spot data upgrades --

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big savings and interest-free financing? these deals aren't just hot... they're explosive! sleep train's 4th of july sale is ending soon. ♪ sleep train ♪ your ticket to a better night's sleep ♪ welcome back. it is urm summertime. time to get out and get active. a mobile focused start-up helping you plan activities when traveling or if in an interesting place like new york, when at home, also, you don't look like the typical hoodie-wearing silicon valley, bay area ceo. you want to talk about diversity with you, too. first let's talk about peak. is this peak time for people to be downloading and using the app, and how much of that traffic is coming through mobile now with peebl out on vacation looking for things to do? >> it is a peak time.

given that. but, yes, summer is a time when lots and lots of people are going out, taking trips. actually a lot of people taking staycations in their home city and want to go and do cool things in their neighborhood or just outside of the city. an amazing time for us and also we've had the good fortune of apple featuring us on you a the iphones and the app store this month. that's been a great boost, too. >> and that's an important, i guess, thing for you. especially given wwdc, just happened. we just had google io as well. you're focused on ios. why? >> part of it was because, when you have a limited resources team, you really have to focus on one user experience, i think. for us, we wanted to make sure anybody down loading the app has an incredible user experience. to enable that kind of user experience we in1re6789ed all of our resources into one platform.

>> this diversity debate is everywhere. on the cover the newspapers today. on the one hand, numbers seem startling to someone. right? on the other hand, people in the valley say, look, if there's anywhere on the planet that doesn't care how you look or how you dress. right? a true mayor tock crazy in sillton valley. what do you think of that? >> earlier in my career i worked in finance. a similar issue around diversity. i think it's one we're all aware of and tech is in the same boat. we need to encourage more women to go into stem fields to be able to have the skills to go out and start their own companies and sgee tech. i think the more go that, the more we'll get rid of this gap in terms of diversity. >> tech has been unique in the fact it has had a lot of activist shareholders. people who have been vocal and wants them to release the versety numbers. should anybody disclose anyways

as part of the normal course of business? >> depends whether you believe that's a metric they should be meshd by. soon as you're starting to release they you're saying they are. each company has to make that judgment themselves. in my case -- when it comes to peak, we have a really diversity. 50/50. we're proud. people are who are in tech, former googlers, looking at us, seeing a female ceo. i'm a young woman and want to carve out a great career in tech, and they're wanting to apply because they see strong female leadership. >> the thing that ump? s out at me, the black population in santa clara county, seneca county, not far off the figures. latino population much high perp the question, will a lot of these companies do more to recru recruit? do they see it important trying to get a more diverse customer base. we'll see. thanks for joining us.

>> thank you so much. when we come back, the pride pa rate kicks off across the country this weekend, but in san francisco, big tech companies are getting more involved than ever. we're going to tell you how. at the moment, dow's down 24. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. 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 cialis for daily use and a free 30-tablet trial.

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the 44th annual pride parade kicks off in san francisco this weekend. our josh lipton is there with a look how tech companies are out in force this year. hey, josh. >> reporter: carl, yeah, the san francisco pride parade is actually one of the biggest gay pride parades in the world. this year big tech is making its presence felt in a very big way. in fact, organizers are telling us that they've never seen this much participation from tech companies. more than 15 of the top tech companies are participating, including google, intel, oracle, tesla and salesforce.com. part of a two-day event kicking off tomorrow culminating with the pride parade sunday morning. for big tech, this is their opportunity to show their support for the lgbt community and over the past mosnths, backlash against transporting tech workers in the city to the

valley. may be a chance to ease tensions that have flared up in the broader community in the bay area over housing, taxes and justification. >> imy major companies are recognizing doing business with the gay or diversity communities of any kind is not just good common sense it's great for retaining and finding the best talent, for finding the best partnerships, domestically and globally. >> in a statement to cnbc, linkedin says as part of the bay area community, we're excited to participate in this year's san francisco pride parade to celebrate with our neighbors and friends. about 200 linkedin employees marching sunday. also over 1,000 googlers will be there with their own float and special soccer jerseys, all part of a big event to support the lgbt community. guys, back to you. >> josh lipton in san francisco. josh, thanks so much. before we sign off for the week, take another look at gopro. did so much coverage on it

yesterday. 31% gain looked good. adding another 26% today. >> two days with a negative market backdrop, amazing to see performance like that, regardless where you see the company going. >> and yahoo! on the back of more news about another forthcoming ipo, baba later on in the summer. thanks for joining us. checking in with mandy and "the half." absolutely. welcome to the "halftime report" here at hq. today's game plan, vitek boom, on a tear again. joining us with his top trades for the second half of the year. disrupting the friendly skies. remember this? >> -- flying to new york for $59, off-peek, $79 peak. a bargain like this only comes along ten time as day. >> right. the original low cost of airline people's express is back trying to take on big airlines again. we'll talk to the ceo why he thinks this