california. 11:00 a.m. here on wall street. "squawk alley" is live. ♪ welcome to "squawk alley" for a monday morning. joining us is john steinberg, and the ceo of indy go-go. the dow down 85 points, close to session lows. first up this morning, it was a very big night for the music industry, both on the small screen an on social media. the grammys brought out some of

the biggest stars onstage and it was huge all over social media. in fact, #grammys is still the biggest topic on twitter. even the president made an appearance to promote th the #itsonus. a message to promote domestic violence. >> it felt like you couldn't get the whole story of what happened that night without social media. i'm thinking, there were so many incidents. pharell making that nasty look at taylor swift when she was up dancing, because they were competitive. kanye talking after the event about why he ran up onstage and then ran off the stage. he didn't say anything onstage. so you really didn't know what happened at the grammys without twitter, without vine basically. >> do you agree? >> yes, i do. but for me, the difference between twitter and facebook in my experience was really interesting. on twitter, the conversation burned bright, but pretty quickly, you said something,

people may have reacted to it. on facebook, i had people go more in-depth with things. tweeted something about beck, for example. i can't hate on him for winning anything, because his music has such longevity. i love it. people were saying, really, beck? okay, i'll check it out. but also, there was this trailer for straight out of compton. part of it ran during the grammys. on facebook, i saw the longer version and was really struck by it. it remind med of some things i saw last week about how native trailers on facebook are really taking off, competing even with youtube. >> speaking of native, one thing that stuck out to me was the presence of native advertising on tv by target. if you tuned in and you saw imagine dragons playing with #moremusic and the target

logo on the bottom, you would have thought that was maybe a performance at the grammys, but instead it was target promoting imagine dragons' album only being released at target. i do think these award shows will be a breeding ground for new types of advertising and content? >> absolutely. i think people have their phones right next to them, probably within six feet of them. you're seeing all this behind the scenes stuff. i think it's just a matter of time before you have a tiny camera into every woman's necklace and necktie and you will see everybody sees what they want to be sharing. >> what about the problem that it is too episodic. it relies on a super bowl and grammys and world cup and olympics.

>> twitter is where people go to to write about news and other sites. facebook has the opposite problem. i find it very hard to follow a live event on facebook, but i think you'd rather be the day-to-day place everybody is going for everything, as opposed to the episodic platform, which is what twitter is. >> rumor is snap chat is charging $750,000 for a takeover. more than a youtube takeover. so it's pretty interesting to see what advertisers are thinking about the new outlets. >> yeah. >> that's what our eyes are on, the ad revenue. let's get a quick news alert. >> interest rates have been edging up. microsoft basically plans to sell a series of bonds ranging from 5 to 40 years. that's according to an s.e.c. filing. the surge in demand, they originally started out with 7 billion. but if you look at the demand for this now triple-a rated

paper by both movies and s&p, that surge could push it up towards $26 billion. that doesn't mean they would sell all of that, but it is basically a measure of demand for that paper. it also includes a five-year floating rate note and we're going to keep you posted, because as interest rates edge up, microsoft is doing that share repurchase. some of this money could be used to further that but a lot of other corporations may come to market as interest rates edge up. become to you, carl. >> thank you very much. next up, new worries over cyber security. first, senator ed markey is issuing a report saying that millions of cars and trucks are vulnerable to hack because they're increasingly connected to wireless networks. and samsung, smart tvs can record your voice and sell what you say to undisclosed third parties. samsung's privacy policy says please be aware if your spoken word includes personal or other sensitive information, that will be among the data transmitted.

samsung takes consumer privacy very seriously. samsung does not retain data or sell it to third parties. >> does that mean they're not actually recording your voice and retaining the data? very unclear. on the car thing, it really is staggering, the number of areas where the digital world is intersecting with physical world. our protocols are clearly not keeping up. >> i have three things in my house that are always listening in my house. opt-in. my amazon alexa is listening to hear alexa all the time. my iphone, when i plug in, i have the feature on, so it's always listening as well. and my google android phone, running the newest version of android is always listening for okay google. so there are things in my life that are always listening to every single thing that i say.

>> and you're okay with this? >> i've chosen to opt in. after reading this thing, i'm a little bit nervous about it. now everything you say, you're going to be listened to. >> as john points out, we're choosing to opt into a lot of these technologies we're choosing to buy them. we're choosing to sign up for them. >> people thought they wouldn't want to give away their location. people are like, yes, know where i am. all this information will be happening across the board. it's just a matter of time before our phones will say yes, listen to everything i'm saying and tell me how to sound smart. tell me what the latest news is. tell me what the latest story is. feed me the exact quote i should be saying.

>> it only takes one or two incidents. >> and if there's an app that somehow manages to get access -- look, i know one person who takes his battery out of his phone when he has certain conversations because he absolutely does not trust that the phone is not listening. >> old school mafia techniques, huh? >> speaking of hack, samsung says it won't sell any data to third parties, but if it keeps that data in any form and the company becomes vulnerable at some point or another, then that could put your data at risk, too. >> doesn't mean they won't do it tomorrow. finally, alibaba is getting into the smart phone business. the e-commerce giant announcing a $599 million investment. right now that company has the best-selling mid cost phone in china. more than a 50% gain month of month.

>> whether they are ready to buy a new device. there's a new device on the market. i would be hesitant about getting into the smart phone market. we saw amazon, facebook, at some point both thought oh look, most of our consumers are using our product on a mobile device. it didn't really work out for either of them. it doesn't necessarily mean it's going in that direction. >> sometimes you get what you don't pay for. you want to go with the best. you want to buy that at the full price. if you're not going with the leader, it's not worth much. >> it's about the service behind a particularly in china and the other emerging markets. trying to sell the hardware at zero margin or close to it.

i think that's a dangerous business. especially if they try to export that model to some other places. >> i think it's a strong move. i think their earnings came up -- sorry, their growth for revenue came up short. they haven't got traction. they're trying to get more exposure into different mobile outlets. i don't think they actually care about the hardware. >> so many devices on your site. don't you think that xiaomi would have found an investment for them? >> i don't know what happens in those negotiations. >> we do have some breaking news regarding netflix. julia is in l.a. >> hey, carl.

netflix announcing it's launching in cuba. the company says people will be able to subscribe to netflix. of course, there is the big question of how many people currently have fast enough internet speeds to be able to stream netflix. but the company says in its press release that it will offer a broad range of entertainment as internet access improves and credit and debit cards become more available. cuba's great film makers and they hope to bring cuban film and television content to its global audience of over 57 million members. they want to bring cuban content around the world. >> european expansion going on. japan this fall. and now cuba. >> are they actually going to allow the full catalog of netflix content to be shown in

cuba? will "the interview" be available for streaming? we'll see. >> you have to have a way to pay for it. before you had that, you couldn't have netflix. so you're going to see a lot of dominos start to fall there. before we go, indy go-go update. >> we're just excited to tell you about indie go-go life. we launched about six weeks ago. already we've distributed millions of dollars around the world to individuals facing hardship. show them what it's like to be able to get into a great university. they were able to raise over a million dollars. just last week, they were able to visit with the president, president obama, talking about how it's great to inspire kids to get an education and try to go to college. >> fantastic work. on top of everything else you're doing. it's good seeing you. thanks for coming in. >> all right, let's get a check

on the markets right now. we're off of the lows of the session. the dow is down by about 64 points. s&p and nasdaq down by about a quarter of a% there. largely being led by downward moves in europe. mcdonald's shares fell by just below 2% in january. in africa, the middle east and asia, sales are down 12.6%. when we come back, what's the most innovative company of the world? according to "fast company," it is not alibaba or instagram.

in about 30 minutes from now, president obama, angela merkel will join the news conference in washington. let's take you live as soon as they begin speaking. and ten years ago today, google maps was born. when "squawk alley" returns.

five years ago this week,

warby parker launched with hopes of disrupting the eyeglass industry. they have raised over $150 million, opened ten stores nationwide and now have annual revenues reportedly worth of $100 million. today, "fast company" magazine is naming warby parker the most innovative company of 2015, topping big names like apple, google, and instagram. joining us now, the co-founders of warby parker. great to see you again. >> great to see you. >> what is it about your business model five years in that you think makes you more innovative than anything else out there? >> "fast company," they said we're the first great made on the internet brand. i think innovation is about thinking differently and bringing new ideas to life. we saw an industry that hadn't been innovating. that enabled us to sell products that normally sells for $500,

for $95. also incorporate a social mission and build a company that does good in the world. i think we've just really tried to think differently about how we deliver our product to consumers. >> the trajectory of sales, at what point did you say not only is this something that is catching on with our customer, but there are probably going to be people who start replicating this model? >> one of our first copycats was one of our first customers who e-mailed us to say oh, we love your product so much, so it's really surprising. >> which is who? >> there was one -- blue flag has gone out of business. another one, i think has gone out of business as well. i think at the end of the day, it's always hard to build a business, but it's really hard to build a brand, and on the internet, you can't hide. you have access to all this information. and people really value authenticity. >> it seems like the older you get as a company, the more like other traditional brands you become with a blend of online and offline retail.

what are the key loanings that you have, from the way you started that you think is going to keep on top as you compete with others who have been in business for a long time? >> i think it's that details matter. every part of the experience makes a difference. we've been able to apply it to brick-and-mortar. we look at traffic actually walking by the store versus entering the store, versus actually completing sales. >> we can do heat mapping. there were some emerging companies that we would look at. we always prototype tests and reiterate. building from scratch that's one viewer omni channel for all of our channels makes a difference.

>> this reporter spent three months imbedded with the company. is that true? >> yes. spent a lot of time with us. >> that's amazing. they talk a lot about innovating and copycatting, but can you give an example of where you have innovated against yourself? or something -- a process you've already had going that you busted open with a new way of doing things? >> i think one thing that surprised a lot of people was we had a successful e-commerce model and then we went against the grain of traditional technology, and we opened brick-and-mortar stores. now we have ten stores open that are all doing north of $2,500 a square foot. >> a surprise even to yourself, fair to say? >> yeah. >> in some ways, we were disrupting what was already working for us and thinking about how can we have the best possible experience for consumers regardless of how they want to engage with us. >> that sales per square foot number you mentioned, the article points out that rivals tiffany and company.

what do the next five years look like as you continue to grow? >> i think you'll see us open up more stores. we'll be focused on experiences. channel agnostics. it really is just -- if you asked us a few years ago that mobile would be such a big part of our business, we would have laughed at you. but this environment is changing so quickly that it's all about adaptability. i think the other thing is how can we dabble in other categories? so this past holiday, we launched stationary. we launched a book. we launched warby parker press. >> this is a picture of you picking up the money that fell out of your pockets. that's a good one. any explanation for what you're doing? >> they asked us to do weird things. >> finally, to celebrate the fifth anniversary, you guys are re-releasing some of the original styles. do you think those are still cool?

do you think people are still going to buy them, or are they more of a commemorative purchase at this point? >> we're launching our half-decade collection, releasing five and a half of our classic styles. five glasses and a monocle all in our signature blue color and different hues. one of our design principles is let's make sure we're designing things that we're not going to be embarrassed to be wearing ten, 20 years from now. we think we have the right mix of frames that stand the test of time and continue to be popular today. >> i wish one of you guys had worn the monocle, but we'll save that for another day. neil, dave, thanks for coming in and congratulations. >> thank you. >> thanks for having us. when we come back, dish network streaming service officially launches today. and it's adding a big name to its lineup on day one. we'll explain in just a moment. "squawk alley" will be right back.

spring tv is open to the public after its soft launch. 15 channels including an unexpected addition, amc networks. viewers will be able to stream hits like "mad men" and "walking dead" as well as "better call saul," frwhich premiered last night. >> what would you like. is this close to the fire tv stick? the fact that you do have major networks playing. >> i think it's its own thing. others have announced things that they intend to do. the thing here, it's in some ways less capable than general tv, because you can't pause and back up and do all that. >> my parents got it yesterday. that's going to be the challenge. it's not just flipping the

channel. >> simon is back, of course. ahead of what is going to be an eventful week all across europe as we get into wednesday and thursday. >> of course, it's all about greece. the bond markets in the periphery. portugal in favor of money. money is flowing in to the core, france, germany, the netherlands. reverse the austerity, to not expand the bailout and further anger the germans by talking about reparations for the nazi era. it's all about the meeting of the euro group. along with him and indeed the imf and the european central bank's mario draghi to try and get some sort of deal moving forward. it's important to understand i think that it's the banks, it's the greek banks that really are

the leverage here for the rest of europe. they're going to push to borrowing directly from their own central bank via the ecb. it could force a bank collapse. nobody expects them to do that but that is the leverage that they have at the moment. everybody is writing about what's happening. everybody is trying to analyze exactly what's going on. the greek three-year at 18%. it's highly confrontational at the moment. actually the concerns of a greek exit are exaggerated.

and this is the argument. they would say let's stay in the eurozone. the cost of the solution is much lower than the cost of contagion. greece probably needs to restructure about 60 billion euros of public debt. the value is in excess of 800 billion euros. the question is, with emotions running so high, a clear tension, whether you can push a compromise deal. >> if, in fact, they are on time. but it's a good piece. thank you, simon. when we come back, it's hard to believe, but ten years ago today google maps was born. how did the service go from what its product manager calls practically useless to what we see today? we have got the full story for

you in a moment with the dow down 28. back in a minute. [ male announcer ] we know they're out there. you can't always see them. but it's our job to find them. the answers. the solutions. the innovations. all waiting to help us build something better. something more amazing. a safer, cleaner, brighter future. at boeing, that's what building something better is all about. ♪ at boeing, that's what building something better is all about. yoyour friends have your back. your dog's definitely got your back. but who's got your back when you need legal help? we do. we're legalzoom, and over the last 10 years, we've helped millions of people protect their families and run their businesses. we have the right people on-hand to answer your questions, backed by a trusted network of attorneys. so visit us today for legal help you can count on.

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hi, everyone. i'm sue herera. president obama and angela merkel are about to hold a joint news conference. the main topics will be the greek bailout and arming the ukrainians. we will take that live for you

when it happens. something else for you to worry about, unfortunately. your car may be hacked. according to a report prepared for senator ed markey. the spread of technology in your vehicle is outpacing efforts by the industry to protect it. would you believe it? netflix now available in cuba. cubans will gain access to a broad range of offerings starting at $7.99 a month. netflix turned positive on that news. are you feeling lucky? the power ball jackpot climbed to $450 million after the previous drawing failed to produce any grand prize winners. your chances of winning one and a heck of a lot. coming up on "the closing bell" today, bill miller is going to be on at 4:00 p.m. eastern time right here on cnbc. that's your news update at this hour. going to send it back to you guys, john. tenth anniversary for google maps today.

a look at the service, including how the program was almost dead before it even began. >> the tiny start-up that would end up creating google maps almost died. storied venture capital firm secoya capital pulled out of funding discussions with the start-up called where to technologies. >> they pulled out overnight completely from the deal. which felt like quite a blow, as you can imagine. all the llvcs also pulled out, so no one would even talk to us anymore. >> the brothers behind where to were totally broke. without funds iing was going un. >> i'm not saying that secoya made the wrong decision here. their view was that our window was going to close before development. so they pulled out. >> google didn't have a mapping product at the time. secoya helped hook up where to with larry paige. >> three days later, we were talking to larry paige.

he liked it, and it took some months to get the deal arranged. but then we got bought by google. >> joining us is the senior editor liz gaines. this is kind of an amazing story to me, because it's one of those technologies that at the time seemed kind of crazy, out there. maps exist already. but now there probably is no more fundamental advantage that google has on mobile than maps. is that how you see it? where is google versus the rest of the industry mapping-wise? >> google didn't know where mapping was going at the time. no one really did. google and other people launched a lot of products that flopped. but i think maps ended up being one of those products that they were actually really pressing on. and the way that they learned how to do maps right was they just started. they weren't the first people to launch a mapping product. yahoo and microsoft and mapquest were all there at the time. but google kind of piece by piece and really piece by piece, they went and made their own data set instead of licensing it from the existing incumbent data

providers. google ended up making something that was a product that really changed the way a lot of us live our lives and certainly is the killer app for mobile phones. >> but it's a pretty high maintenance product. they made the data set, but now they have to keep remaking it over and over again. i looked at the house that i lived in in 2007, and up until a few months ago, my car was still parked outside, and that's seven years later. how often and how costly do you think it's going to be for google to continue to update what has become one of its most popular offerings? >> it's hugely costly. i don't know the precise number, but if you think about it, google is going from creating a service where they did web pages. this is the first time they had ever shown images. they realize that was something they had to keep up with. i think they update major cities. it turns out they can actually create a lot of their data from

the street view cars themselves. because they're good at image recognition, google can now interpret that as map data. >> the data collection, it's hard to get your mind around. do we know anything about what it contributes to earnings, if they make any money on it at all, or is this one of those projects that only google could have done, because they had the cash and they had the patience? >> google could not do anything in local if they didn't have maps. it absolutely enabled the rise of android. but no, it's not something they break out and it's not something that you could break out. it's really that fundamental. >> liz, do you think google is likely to maintain its mapping advantage? we know apple's maps have gotten better. there are rumors about them sending fans around silicon valley, probably trying to do some street view type things

that google is doing. how do you think it turns out? >> the bar keeps getting raised. i was trying to think about what's the logical conclusion of this. i don't think anyone's -- i'm not saying google's going to do this, but a realtime live video feed of every location in the world would be the most accurate map possible, right? they're raising the bar all the time. people like apple is doing that as well as well. different angles of imagery. the next step for google is they've bought a company called sky box imaging last year for $500 million, and sky box was really early, but they already have two satellites in the air, so now they're taking their own images and that should help them update the data more than every seven years. >> wow. ten years. ten years it's been. thanks, liz, for that look back. >> thank you. when we come back, any moment now, president obama expected to hold a news conference with angela merkel. we'll take you there live to

washington as soon as they begin speaking. but first, rick santelli, what are you watching today? >> of course i'm watching the fact that rates have moved down a couple of basis points with equities down. is it the equitable move? should we expect more? how did friday's stronger than expected employment report figure in? and we're going to talk about net issuance around the globe of sovereign debt, all after the break.

let's get over to the cme group, where rick santelli is standing by. hi, rick. >> hi, kayla. here's monday's edition of "the santelli exchange." when we looked at total returns for 2014, 30s about 30% total return when you look at price appreciation and interest payments. this year has been somewhat of a split decision. if you look at the range of yields, 217 down to 164 for 10s, 30s. obviously it was a good month for return. opened at 164. the 20-month low. up 30 basis points. pretty much same scenario except for we opened up the month at all-time historic low yields. we moved up about 27 basis points. for the month of february to date, we're down about minus 2.2% for a ten-year.

a little over 5% for the 30-year. but that still leaves year-to-date total returns up about the same amount, 2.3 and 5.1. why is this important? consider the month of february and then consider a chart that's being passed around today, like wildfire. and tomorrow, we'll have a copy to show and continue with the story. but morgan stanley research showing that if you looked at the developed economy, so you look at japan, you look at the uk, you look at the united states, and you look at the eurozone, that despite all the central bank buybacks trying to help things out, what we're going to end up with for the first time in history are net issuances that are negative, which means, including zero hedge, that we are now monetizing more than 100% of the debt. i'm not sure how this will ultimately turn out. i know our qe days at least temporarily are behind us, but maybe that's the reason they're

temporarily behind us. can you imagine if we get many more moves like october 15th, or was october 15th's move caused by this dynamic? i can't tell you. but what i can tell you is it doesn't necessarily mean that it's going to be an easy trade, and that these yields that we're currently at, 194 and 250, are going to be it. the point of this is when we're in this kind of alternate universe of treasuries, where a huge amount based on history are now in negative yield territory, the counterintuitive moves of the market may not be as easy to predict. just looking at the notion of historic negative net issuance. back to you. >> thank you so much. meantime in washington, president obama and german chancellor angela merkel set to hold a news conference any moment from now, discussing ukraine, greece, and a bunch of other global worries.

our chief washington correspondent is at the white house this morning. hi, john. >> there's increasing pressure to arm the ukrainian military, to help them hold off the russians. the president has not been eager to do that, but they'll be talking about that and of course we're also going to hear about their attitude toward the new government in greece and what to do about the request for a new bailout. president obama, who has always wanted germany to be a little looser than it has been on the austerity front, has a stronger argument now. >> they're relationship is so critical. it has been tested in the past year regarding some headlines about surveillance among various

governments, specifically u.s.-german, german-u.s. has that healed? >> no, i don't think it's healed, but i think it's not a large obstacle to the issues that they're trying to tackle today. which in addition to the two we just talked about, the greek situation as well as ukraine, there's a major trade deal, which the president wants to accomplish, at least finish the negotiations before he leaves office if not ratified by the congress. so they've got a lot of business to do. and i don't think as the president is fond of saying with respect to republicans, not going to let the point of view of irritation get in the way of the other things they've got to deal with. >> all right. obviously the tone will be evident in a few moments. meantime, our chief international correspondent michelle caruso-cabrera also at the white house this morning. your take? >> i'll be watching specifically for what she says about greece. i mean, ukraine is certainly top of the agenda. john really highlighted the issue there. she does not want the u.s. to give lethal aid to ukraine. like you said, the president is

hesitant to do that, but is being pressured more so than ever to do exactly that. that will be top of the agenda. but certainly, with so much of the german press corps here, we're certainly she's going to be asked about the situation with greece. especially because yesterday prime minister alexis tsipras made it clear he was going to demand nazi war reparations from germany to try to get some money out of germany. analysts say it's about trying to get them to soften their position so they can get a bridge loan. that i expect will come up in the question and answer period, and her toalty in response to what he said yesterday is certainly going to be important what he said yesterday is certainly going to be important. >> the backdrop is that tensions are still high in the u.s. and germany after allegations of potential snooping.

has time healed that wound? is that something that is still on the table for them to discuss? >> you know, i walked by the building where angela merkel was staying and i thought to myself, i wouldn't speak out loud about anything super important in there while i'm here in the united states, quite frankly. i don't know if it's healed or not. but i think there's a lot of things they don't necessarily see eye to eye on, back to the whole greece issue. the u.s. urging germany to be easier when it comes to fiscal spending, etc. that's just not going to set very well with the german chancellor. that's not what they're about. and they certainly don't want to go backwards when it comes to their dealings with greece. >> all right, michelle. we'll see what happens. obviously they've already had their bilateral meeting with the vice president attending in the oval office. this press conference scheduled to begin at 11:40 eastern. it's about eight and a half minutes after that. so they are behind schedule. and then later on, the chancellor and the president will hold a working lunch that the vice president will also attend. i don't know if we still have john harwood, but i guess if we were going to start to set some

priorities here, whether it's greece, ukraine, isis, the economy, monetary policy, is there one that is far and away ahead of the other? >> i think ukraine is. and ukraine highlights sort of the disparity in the roles that these two play. the united states is the ultima ultimate guarantor, but this is their neighborhood. the more pressure the president gets to arm the ukrainians, he's going to try to work out some sort of accommodation with angela merkel. but her perspective is always going to be different from that of the united states. >> yeah. obviously, we'll stay on top of this as soon as they come back into the room. i'll take that live. john, thank you. and michelle, thank you as well. we'll be right back.

at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping.

we are still awaiting that news conference with president obama and german chancellor angela merkel. they are expected to discuss everything from ukraine to russia to counterterrorism to economic growth. when they begin speaking, we'll take it live. last night's grammy awards, a big one for social media. #gramm #grammys 2015 still among the top topics. julia with more on that. >> the grammys are always called music's biggest night, but it was also a big night for media

and social media. despie despite the fact that early ratings numbers suggest that ratings were slightly down from last year from competition. breaking through the ad clutter, target bought out an entire four-minute-long commercial break for imagine dragons to perform and to promote target's #moremusiccampaign. costing target about $8 million. nielsen reports that 13.4 million tweets were sent by 2.4 million people in the u.s. alone last night. we're still awaiting global volumes from twitter, which hosted q&as with come knees from pharell to drive music fans to twitter during the broadcast. also to show entertainment advertisers just how many tweets their ads drive with the new mettic it's working on with nielsen. the most tweeted about moment last night was when beck won

album of the year and kanye west jumped onstage, followed by madonna's performance. there was also a big twitter moment unrelated to the awards. iggy azalea's twitter war with papa john 's. she tweeted that the driver gave out her personal phone number to their family members. a message retweeted thousands of times by her fans. papa john's replying, saying customer and employee privacy is very important to us. one factor that could actually have hampered twitter's power as well as ratings last night was the fact that the grammys are the last big awards show that's still tape delayed for the rescue. in this world, john, where we have the second screen conversation happening on twitter, being able to comment in realtime is very valuable. back over to you. >> yeah. iggy is just so hood sometimes. she has twitter beef with everybody. even the pizza guy. anyway, some new data out on charitable giving. robert frank is back at hq with

more. >> of the top 50 philanthropists in 2013, 12 were actually tech founders and they gave a total of $4.6 billion in 2013. about half of the total amount by all 50 of the top givers. bill and melinda gates topping the list, giving $1.5 billion in microsoft to their foundation. coming in second was the what's app founder, giving $556 million to the silicon valley community foundation. shawn parker gave $550 million to his foundation as well as a donor-advised fund. nick and jill woodman giving $500 million to the silicon valley community foundation as well. remember that famous stock sale. and sergei brin rounding out the top five of google giving $382.8 million to his own foundation. the tech guys are reengineering philanthropy just as they reinvented tech. most are giving to scientific research endowments and donor advised funds. these funds have come under some

scrutiny because they allow donors to get an immediate tax break on money that can sit indefinitely in the fund before going to a charity. the rise given to these funds is likely to cause an increase in calls by congress to require more charitable giving to give directly to charities now rather than staying in these funds forever. clearly, the bottom line, huge amount of giving by the under 40 tech crowd. >> yeah. some say it's the new sign of froth, all the philanthropy going on out west. thank you so much. when we come back, still waiting on that news conference with the president and the german chancellor. we'll get you there live as soon as they begin. dow still down 44 points. we're back in a moment. anything?

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did someone say burn? try alka seltzer reliefchews. they work just as fast and taste better than tums smoothies assorted fruit. mmm... amazing. yeah, i get that a lot. alka seltzer heartburn reliefchews. enjoy the relief. still waiting for that news conference to begin with the president and german chancellor angela merkel. you can see our john harwood there on the left side of the screen, and we will see. about to minu20 minutes late. in the meantime, the dow is down ahead of what is going to be a very busy week. on an earnings standpoint, we're going to get all sorts of packaged food companies.

coke, pepsi, kraft, kellogg. and a little bit of tech in there with cisco later in the week. >> yeah, cisco the networking company as opposed to the food company. we are looking for inline guidance from them, despite the currency headwinds. that's what everything is going to hinge on for them. >> for now, we'll toss it over to the judge. welcome to the halftime show, everyone. as carl was just mentioning, we are waiting for that joint news conference. we're going to take you live to the white house, the east room there as soon as it does begin. there's a live picture of that room. we will take you there as soon as those heads of state appear there. want to show you the markets as well. stocks are down today. we are coming off the strongest week for stocks in some four years. the dow last week up more than 700 points in a single week. so very m