>> thanks, simon. good morning, it is 8:00 a.m. at facebook headquarters in menlo park, california, 11:00 a.m. here on wall street and "squawk alley" is live. we could keep rocking out to tom petty, but there's too much to talk b. joining us is jon steinberg, ceo of the "daily mail" north america. here for the hour is our own david faber and here as always, kayla tausche. let's start off talking facebook. the ceo mark zuckerberg addressing twitter ceo situation in a response to a question about facebook from omalik.

stuck writing if you have control of the company like i do at facebook, it's difficult for investors to fire you. this means you don't need to worry about losing your job over a couple of bad quarters or a controversial shortterm decision. he also said it's easier to retain employees, it's easier to get the trust of your team when you make controversial decisions. jon, when did you think when you saw that? >> this is a follow-up to the conversation yesterday, dick costo costolo's comments about being a public company putting you on the 90-day cadence. you know ultimately the trend is to stay private so long, don't go public and deal with the public markets, i think it creates a tremendous disjuncture in the economy. the growth won't be available to individual investors, the private valuations with preferences on top outstrip what the company can get in the public markets and inevitably it's not sustainable. if ultimately the companies will have to go public at some point. i don't think this is the right path for them to be going down.

>> let's get over to michelle caruso-cabrera in greece. mcc? >> hey there jon fortt in the last few minutes, the international monetary fund and the imf has released a brand new debt sustainability analysis for greece. this is something that the imf does when they go into a country that needs help. look at all of their, what they call their gross financing needs. usually a country isn't bringing enough tax revenue to pay their bills, so there's a gap while they get the place running. they take a look at the debt. had released one a while ago which is actually considered a part of the ballot in this sunday's referendum. they went through the motions of putting the new one out. they said listen, that one is really old and it reflects old circumstances that when things were much better. things are far worse now. 24-page document. one of the key things in it, they estimate what greece would need over the next three years is at least another $36 billion from the european union in order

for financing to fill what they think is a 50 billion euro gap in the country's financing needs over three years. so greece still needs more money even once we get through whatever it is that we're going to get through with the referendum on sunday. meantime, the big headliner of the moment is a big vote here in the country on sunday, a referendum where preparations are under way. and there's twitter campaigns, there's social media campaigns on facebook, et cetera. for the different sides that want people to vote. either yes or no. the way you say no in greek is oxi and the way you say yes is nai. and we'll see whether or not the country votes yes or no when it comes to whether or not they want to accept a bailout agreement. which many folks believe is a vote on whether or not they want to stay in the euro. back to you. >> michelle caruso-cabrera.

thanks for the headlines. let's go back to facebook news. the company announcing it will start sharing ad revenue with video creators in a move designed to attract better content and more advertisers. jon, very much a space that you play in every day. is this the big assault on youtube that we've been waiting for? >> it's part of the cablefy indication apple news will be coming out with hosted content. facebook has instant article, we read this yesterday. we email our facebook rep and said we want in 55% revenue share on the video monetization that they're doing with their data should be good. we want to see the numbers and we want to be in. >> critics say the 55% will get split more ways than this would potentially if you were putting your content up on youtube or other hosting sites, how does that work? >> every time we meet with one of these platforms and say what will the average cpm be? they say they don't know. they have no answers. >> how much you're getting paid

per 1,000 views? >> yes, which annoying, obviously they have some way of forecasting and predicting, but they won't give us anything. we have to test out different platforms, see what dollars come in and double down where the money is. >> i wonder when we're talking about the overall dollar amount, we're talking about relatively small sums. somebody shared a statistic that said all the add revenue on a given day doesn't amount to what judge judy takes in on an hour of her syndicated program. put it into perspective. >> microsoft gave away their entire direct advertising business to aol. a lot of people said why. because microsoft does $90 billion a year and i'm sure their advertising business is a couple billion dollars. $4 billion. digital advertising is not that big relative to a lot of these other things. over time the question is, will it transition into tv? will it -- that's why we're all going upstream into video, in the hope that video replaces television or television becomes

video. >> michael wolf has a new book out, "television is the new television." and excerpt in the "new york times," he says some digital properties, like netflix are finding out what the tv companies knew autumn along, you need to go after credit cards, and not eyeballs, you eyeballs don't pay but subscriptions pay. this sult malt up that you're facing when you have a media model and trying to figure out which direction to go. >> we're back to music. part of the things with apple's itunes, the credit card is built in. if you sign up to apple music, you're already subscribing. and facebook has been in talks with record labels to try to get their own spotify, apple music type thing. everybody is like a 5-year-old going after the same soccer ball. >> the underlying question, can facebook chase youtube? >> absolutely. absolutely. i think youtube is always underperformed on monetization. it's always claimed to be a social network. but it really isn't. it's never really had the high quality content it wanted to have and i think there is an opening for facebook.

people are more sticky to facebook than they are youtube. >> facebook is dominating the digital ad market right now, aren't they? >> absolutely. >> we talk about the share and what's coming from some of the traditional players. much of it is going to facebook. some is going to google as well. facebook is the big, big giant here. >> and i have theories on it that i can't back up. when we hear about programmatic advertising being so enorm as you and private marketplaces, private exchange being so big and yet me and my peers, other media companies don't see large amounts of private programmatic buys, i suspect it's going to facebook. i think facebook is taking more share than people currently believe. next up, let's talk tesla. shares rallying after the company said it delivered a record number of model s cars in the second quarter. over 11,000, up 52% year on year. well above the company's internal estimates. elon musk has set a goal of

55,000 cars sold in 2015. how they tend to trend, from first half of the year to second half of the year. back in 2013, the second half was up 23%. last year it was up 9.5%. this year they'd have to be up 11.4%. better than last year in order to hit this target of elon musk's. great quarter of deliveries, are we sure they can make the second-half target? >> how much seasonality is in this business. elon wants to get to 55,000 by the end of the year. i think most analysts i've read this morning don't see how he gets there. >> if he doesn't beat last year's growth from first half to second, he can't get there. >> the company has shown its ability to grow. but the numbers that we've seen so far this year are less than half of the 55,000 target that the company has set for this full year. pretty much every investor is hanging on that number and it all hinges on the release of this suv. which on the last conference call people were underwhelmed with the fact that the details

around whether they would hit the target for the release of the suv was a little vague. in the coming months we're still hoping it's on track. a lot of congresditional langua around that. analysts say tesla shares are too expensive, raises price target 177%, that says it all. granted they're growing top line from 3.6 billion dollars to $5.7 billion this year. but still, it's basically an infinite price-to-earnings multiple, because they don't have any earnings. >> then again they have done this well with gas prices down so you know, maybe they can rally for the end of the year. >> every time you pose that question in terms of whether they would suffer as a result of that, they would always push back and say, and/or their proponents, not the company itself necessarily and say we're in an entirely, it's an entirely different decision in terms of the clientele and the consumer we're going after, not based on gas prices.

but it's a good point that you make. >> finally, a few weeks before its planned split with ebay, paypal announcing it's buying digital money transfer company zoom for $890 million. the deal is expected to close in the fourth quarter a few months after the split. >> giving it access to xoom's 1.3 million monthly active users, shares of ebay trading up .4%. does this matter? we look at facebook messenger amonging into payments. it's u.s.-only right now. but given facebook's global audience, if they figure out how to dot payments thing, wrapping in the carriers and not just banks, couldn't they completely crush this? >> i think this is a little bit different than that. because the bulk of the business that xoom does is remittances, so it's more like it's competing against a western union rather than a messaging company. i look at paypal a little bit in

the same way as facebook. it's basically becoming a roll-up of very popular financial brands. it has venmo, operating as a stand-alone brand, it will operate xoom as a stand-alone brands. these are brands that have really loyal customer bases in different geographies, some of which paypal doesn't have operations in. which will be good for the company. >> across the street from the exchange there's a big paypal billboard with all their different brands on it brain stree, apple pay they accept. they boost xoom, pay dial. it's a bag of stuff marketing. you've got all different brands and a great deal of confusion over what does what. first task post-ipo, you centralize the services and are not baffled by what they offer. >> what are remittances going to look like in five years, we had hugo barra from xiaomi talking about how they're smelling

smartphone force $160. five years from now are we going to be sending cash. >> xoom is actually mobile remittances, that's what paypal is buying here. i think another question though is because paypal will trade as a stand-alone company on july 20th, yes, maybe they needed to do this deal because of you know, a situational issues at xoom or they wanted to do it before the stock price went up even more there are all of these reasons to do it now. but doing a deal that's close do $1 billion two weeks before you become a stand-alone company? >> two weeks before you have your own currency which you can use and conceivably may benefit from the fact that you're independent. there are plenty of investor who is have done the math for quite a long time in terms of valuing paypal. you're right. one of the reasons, one of the many reasons to be separated is to have your own currency to use and deal. >> all right. well jon steinberg, thanks for joining us today. always good to see you, have a happy 4th. let's check the markets now a couple hours into trading. we have lost our gains for the

morning. stocks have been on track for a third day in the green, but right now you can see all major averages are in the red. some of them faring their worst since the end of march. we're also watching shares of intel in the green after the company announcing its president will step down, rene james to seek a ceo role outside the company. james had spent 28 years at the company. and jon fortt. it is a positively-worded press release. i'm wondering what you see in store for rene james and for intel. >> this is significant, because rene james and brian kri zan itch pitched the board together to take over as intel ceo and president. that's basically why they won is what i was told by the chairman of the board. the fact that she's leaving pretty soon into the tenure that she had with brian krzanich it will be interesting to see how he reorganization management

there. and mike bell who had been leading up a lot of the internet of things efforts is shifting out of intel. quite a number of changes down the line for them internally. >> the company did stai say she will stay on until january to assist with the transition into the executive office. the stock sup 2%. coming up, a closer look at the future of drones, self-driving cars and even uber across country transportation secretary anthony fox will join us live from aspen. plus longer battery life. faster download speeds and force touch. a few of the new features that 9-to-5 mack's editor will talk about it. and natera shares were up 20% at the open. the ceo is with us late they are hour. being a keen observer of the world has gotten you far,

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anthony fox. kelly? >> kayla, good morning and thank

you so much. yes we're out here in a lovely setting, secretary fox, thank you so much for joining us this morning. >> thank you, kelly. >> we've got to get into your big ideas for transportation. first as kayla mentioned, real questions, justice department looking at the airlines, to see whether they're colluding on holding back capacity to keep ticket prices high. are they? >> well this is an issue that the justice department has to do their own research, their own work on. we will of course support any investigation the justice department in terms of what resources they need but that's really their thing. >> did the department of transportation set the stage for this by allowing the mergers that ultimately put us from eight major airlines to four. that now control 80% of the market? >> well actually the justice department's antitrust division actually approves these mergers. we play a role, support role. but primarily it's the justice department. so they'll take a look at this and hopefully come up with an answer. >> does the same go for your philosophy about some of the real heated conversation debate that's happening about emirates? some of these foreign airlines

saying they can't expand in the u.s. as much as they'd like and that there's collusion on that front as well. what's your view about how open our skies are, to international competition. >> our longstanding policy is to support open skies and making sure there's good flow of traffic and in countries with which we have those agreements. there's a lot of fact-finding that still has to be done. and i don't want to prejudge the outcome of that one. but that's something we're looking into, along with the commerce department and the department of state. >> you mentioned open skies, naturally the big question these days, a lot of the discussion around here is about drones. you know, drone technology is here, amazon for example is saying to the faa, great, you're kind of loosened up a little bit. now all the local communities are blocking what we want to achieve. when can we expect a more regular set of rules when it comes to the drones? and what is your administration's philosophy about them? >> well, our philosophy is that we have to integrate these new

movers in the aviation space safely. and that's why we put out a small uas rule recently, a small drone rule, if you will, that will provide the kind of parameters by which folks can use these types of technologies. that rule is still being out. we have comments that have just been received. we're working through those comments, a lot of comments. we're hoping to get that done as soon as possible. hopefully somewhere around the end of the year. if not maybe a little later. >> there is so much disruption across the transportation space. at the same time we're also getting more reports out of google about its self-driving cars getting into crashes. >> the company says they're being transparent, but as the technology increasingly hits the roads is this something that the transportation department supports and wants to see more of? or is it going to take a cautious approach? >> we support new ideas in the marketplace that are safe and every new technology has its own challenges. we're not afraid of those challenges, we want to see the marketplace robust. we want to make sure that

american technology continues to evolve and grow. and we will evaluate each technology on its own. i think the prospects for it are very exciting and i think we'll see a bright future of not only driverless, but connected vehicles. >> do you have concerns that as cars have more automated functions, that drivers will be become distracted and will lead to unsafe roads on the mushy middle period. >> that's one of the things, the whole way you teach people to drive with the different technologies, something that our department will play a critical role to adopt best practices. >> could it mean different standards for federal licensure? >> i think we're going to have a robust conversation with them about that a lot of drivers education is pushed down to the state level. but we're going to play a role in hopefully putting out best practices that states can use and we'll have further conversations with them. >> what about the federal government's role in regulating uber and ride-sharing start-ups that are so prevalent? >> a lot of that is usually state level.

occasionally there are issues that bump up to our level and we're tasked with looking at them. that side of the technology is very exciting, i think you're going to see in the future, transit systems using uber or lyft-like systems on-demand transit systems. >> and your big idea here is beyond traffic for the year 2045. what does that look like? >> well, we have a big problem -- we're underinvesting in infrastructure. we have 70 million more people we're going to have in the next 40 years. we've got to build for it our maintenance isn't very good. driving around new york, chicago, any place around this country, you're going over pot holes, paying for suspension and gas you don't need to pay for. we've got to fix what we have is broken and prepare for the future. we've got those twin problems staring us in the face. >> secretary fox, thank you so much for your time this morning. we will have more coming up on "closing bell." back to you. >> fantastic stuff and a beautiful setting, kelly, i know we'll get more from you today

from the aspen ideas festival. kelly will be talking to shell oil president marvin odum and billionaire ricardo salinas. and the official trailer is out for the new steve jobs movie and i personally think it's completely terrible, i'll explain, when we come back. the mercedes-benz summer event is here. now get the unmistakable thrill... and the incredible rush of the mercedes-benz you've always wanted. but you better get here fast... yay, daddy's here! here you go, honey. thank you. ...because a good thing like this won't last forever. see your authorized dealer for an incredible offer on the exhilarating c300 sport sedan. but hurry, offers end soon. share your summer moments in your mercedes-benz with us. every auto insurance policy has a number. but not every insurance company understands the life behind it.

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universal unveiling the first trailer for the new steve jobs movie starring michael fasbender. >> how come ten times in a day i read steve jobs is a genius. what do you do? >> musicians play their instruments, i play the orchestra. >> now, you got to watch the whole thing. and i really want to be excited about this movie. but the trailer left me cold. this was darth vader playing steve jobs. this was not steve jobs.

now maybe there's some turn in the movie after he has the next experience, he comes back kind of a kinder, gentler steve jobs, but the guy was charismatic at a level you were attracted to the good steve, you saw it beneath the surface, even when he was being mean. he and i didn't hang out but i covered apple starting back in 2000. so for most of 15 years. and this just -- i felt uncomfortable watching the trailer. >> this is just the trailer, right? >> yeah. >> so wait until you see the movie, maybe to be the judge. can you judge a book by its cover? >> sometimes you see the "jurassic world" trailer, the movie is like that. the dinosaurs are big. i felt completely like this is the trailer that i saw. so we'll see how this movie turns out. >> i didn't get steve jobs from this, personally. >> you're giving it a bad grade on the trailer. >> on the trailer. >> and conceivably on the movie as a result. >> i'm hopeful that somehow the trailer was just cut exactly wrong.

>> you don't seem to like the guy playing steve jobs. >> i thought his voice, i tweeted when i first saw the first bit of trailer, his voice is spot-on. doesn't look like steve jobs. it reminds me of the zuckerberg portrayal in the "social network" zuck is nothing like that so hopefully the movie does a better job than the trailer. >> let's bring in simon hobbs as we count you down to the close in the uk and across continental europe. >> we've lost ground during the course of the european session, they weigh what is happening with greece, one more day to trade there. tomorrow we'll be off here. worth mentioning the european central bank hidden deep in their website today announced they are going to increase the amount of corporate bonds they're going to buy as part of qe. here are few of them. those happen to be italians there are more moving forward. the focus is what's happening in athens. with the cabinet, with the greek

prime minister. the greek finance minister said the entire country is now on a war footing to get the referendum through on sunday or to stage it. he personally said he would resign if the greeks vote yes for austerity on sunday. he said in an interview with the australians, that the prime minister may resign if the referendum goes the wrong way. they are arguing that the referendum is about austerity. the rest of the eurozone is arguing that the referendum is about playing by the rules. and staying within the club. to that end, let me show you pictures of the dutch finance minister today, who importantly is head of the euro grope in the hague telling local parliamentians, it's an illusion for greece to think they could negotiate a better deal with a no vote on sunday. no would not automatically lead to them exiting the euro, but the eurozone as a whole could no longer support greece if it voted no. that's very important. on the streets of athens, it's all about the local politics now.

all about the opinion polls. and indeed, those abiding memories from yesterday for many people, of pensioners, on the street clamoring to get their cash out of the banks. it's that type of imagery that arguably can move the situation. just as a footnote, citigroup is warning of a potential, a greek exit could come only after a potentially long period of greece in limbo. what they refer to as grimbo. >> lex cicon is getting much bigger. >> when we come back, details on the next generation iphone. 9-to-5 mark gereman is with us.

good morning, everyone, i'm sue herera, here's your cnbc news update. a milestone for new york's tourism industry. governor andrew cuomo announcing today that the total economic impact of the state's tourism industry reach an all-time high in 2014. state took in more than $100 billion. fresh activity from a volcano in western indonesia. mount sinabung letting out a powerful blast today it caused ash to fall within a radius of more than 15 miles. the volcano has been spewing clouds of searing gas into the sky for the past few weeks. the coast guard searching for survivors involved in a

deadly ferry accident. a ferry carrying 189 people capsized off the central philippines killing at least 36 people. authorities say at least 118 people, however, survived. no word on what caused the boat to cap size. and a new record finds about a third of the worlds polar bear be could be in imminent danger from greenhouse gas emissions. it says a drop in seaize will lead to population declines. and that is your cnbc news update. thank you, sue. iphone lovers rejoice, 9-to-5 mac is reporting that the latest version will be released this fall. there could be major upgrades. joining us is the senior editor of 9-to-5 mac, the oracle of

apple, mark german great to have you this morning. >> thank you. >> if the changes won't be apparent to the naked eye, what are we looking for in. >> we're looking at a lot of internal changes and software changes and new internal hardware features that really improve the experience. so one of the big things we reported that will be coming is the inclusion of a new processor for wireless networking, from qualcomm. which will allow data speeds over 4 g to move twice as fast. which means emails downloaded faster and web pages loading more quickly. >> that's something that people will probably realize once they have the phone in their hands and they're using it. everyone wants their phone to be more efficient and have a better battery life. do you think that will get people running to upgrade to this device shall. >> not necessarily. it's going to be a big upgrade for a lot of people. like you said, the chip could improve battery life and make the phone more efficient, which will allow it to run cooler and

more quickly. >> these photos that you obtained are remarkably clear. a lot of your scoops are software-based. this is a big, hardware scoop. are you learning anything about apple's level of secrecy and protection of its future plans? is it still as tough as ever to get this? are they loosening up in some ways? >> think when you're covering apple, it's important to cover all aspects of the company, both software and hardware. i've covered a lot of software, everyone wants to know with the new iphone and ipad looks like. i don't think there's a huge difference here, i remember in do you 12 we also published the pictures back then of the iphone 5. so we're just continuing what we've been doing for the last several years. >> but you're doing it with pictures, i mean the stuff that you obtain is pretty detailed. people love to know what's coming down the pipeline for hardware an software. so the pictures are pretty detailed. and i think it gives people a

nice window into what's coming for apple for the future. >> it's been a couple of days. what's your take on apple music from beats 1 and the new discovery experience there to the number of features that they crammed into one app? >> i would agree with some reviewers that it's a big ecosystem of music features, everything pushed together in one application on the iphone, ipad, and ipod touch. some people are liking beats 1, it's kind of unique to have one global radio station accessible by half a billion people. but we'll know what people think about it in three months' time when the free trial expire. there's a lot of hype and marketing, banners in times square in new york about the music service, but it's free, it's free for everyone wanting to download it right now. we'll have to wait and see what people think about it when they have to start paying $10 a month. >> any word on the pricing of the new iphone? do you think it will be similar to prior models? >> i would expect the phone to

be the same price of the iphones of the last few years, starting at $199 on a contract and ranging upwards of $500 off-contract. i don't think we'll see too many surprises in terms of pricing with the new version. >> is there anything that you see in this design, it didn't seem like there was, that would suggest margins will change significantly for this phone, if the outside of the phone is physically pretty much the same in it seems like their gross margins should improve for the ss, yes? >> i would agree the ss have a hirer gross margin, because they produce a certain component for a longer period of time. their general costs come down. we'll see, there will be small tweaks inside and out it might be close torte iphone 6 margins, as they continue to produce these over the course of the life cycle of the phone, margins should improve. >> mark, we appreciate your time. have a great weekend. >> thank you so much, happy

fourth. shares of natera open for trading on the nasdaq. currently trading at -- let's see, up 23%. the ceo is going 0 join us live in just a moment. but first, rick santelli, what are you watching today? we have to dig down a little bit into today's number. i wanted to hit some highlights from ed lazear, former chairman of the council of economic advisers, i've been emailed one question by about 20 different people -- the same question. you want to know what it is? you want to know what i think the answer is? of course in order to find out both, you have to come back after the break. by the way, happy birthday america, 239. listen up team, i brought in some protein to help rearrange the fridge and get us energized! i'm new ensure active high protein. i help you recharge with nutritious energy and strength to keep you active. come on pear, it's only a half gallon. i'll take that.

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coming up, with stocks moving on today's jobs report. we're joined by a barron's top financial adviser on how to play the markets. and what is the best way to protect your portfolio no matter the outcome of the referendum in greece? and from fed head to dead head. steve liesman live in chicago, as the iconic band prepares for its final shows, jon, we'll see you in 15 minutes. let's get to the cme group, rick santelli with the santelli exchange. rick? >> thanks, jon. you know in my tease i said i've been emailed the same question, and that's pretty unusual. and it had to do with my interview with ed lazear. we ended up getting very close

to answering a question and even asking a question, and the question that's emailed to me was this -- what are the adverse effects of overplaying zirp? zero interest rate policy? ed touched on the notion that if we have a feeling of being dissatisfied with the current economic environment after we've had certain things in place for over seven years, maybe policy isn't doing what it's supposed to do. now let's drill directly, i'll give you my impression. unintended consequences of ziro interest rate policy, what are they? we have no idea, but i could throw out some potential ways to think about it there are companies that probably should have had loans, to expand or start new businesses, that didn't get them. because in a zero interest rate environment -- there's a different dynamic. the economy is calibrated differently. there are businesses that maybe should have failed or businesses

that shouldn't have seen skyrocketing activity in their stock that did. there are companies that bought their stock back, basically at the highs, and why did they do that? because while stocks were at the highs and buy-backs make the stock go even higher, the money they were using to do that was borrowed money in the capital markets because zirp keeps rates low. what are the unintended consequences? i can't tell you for sure. what i can tell you is that free markets for 239 years or at least a good portion of them, may not be a perfect system, but it worked pretty darn well in raising many people to a level that other countries weren't able to accomplish by thinking they could control everything. all right. that's that. now let's look at another area. atlanta fed now, now currently there are many out there raising gdp. atlanta fed is going to upgrade their system after the trade data on tuesday the 7th. you can see the progression of various data points. the latest update was 2.2, not

bad. which leads me to my final point in many debates we're looking at today's number. at 223 isn't bad. to drop in the unemployment rate is due to 432,000 disappearing, but there's improvement, improvement. but, if you lost your job in the crisis making 100,000, and you found a job making 80, that's an improvement. but if your balance sheet is calibrated to making $100,000, you're still $20,000 light. the u.s. economy is still 5 million light. we are improving but we need to find ways to improve faster, better and more sustainably. kayla, david, back to you. >> thanks rick santelli. up next, deadheads rejoice, starting tomorrow original members of the grateful dead will hold their last performances together in chicago, where we find steve liesman. steve? >> yeah we're the only media allowed in the stadium here

today. before the show starts this weekend. grateful dead, 50 years later going to did their last concerts together, over three nights, july 4th weekend. we'll talk about how we did on the way in. we're challenging the music business when it comes to online and on the web, on the way out. so from soldier field we'll be back in a few minutes. to give you the inside scoop on what's going on with the webcast from here. back to you. ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands

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♪ ♪ thousands of grateful dead fans were flocking to chicago for the band's 50th anniversary reunion shows this weekend. but those who weren't lucky enough to get tickets are still going to be able to watch the shows from the comfort of their living rooms. our resident grateful dead fanatic and boy of summer steve liesman is live at soldier field with more. steve, you spot any deadhead stickers on cadillacs yet? >> i've seen a few, yeah. and that's what they're calling it, they're calling it the couch tour. they used to go to actually tour. now they're calling it the couch tour. it was a huge story when it happened. the tickets sold out 75,000 for a total of something like $225,000 tickets. what do you do at that point? you broadcast it and you broadcast it any which way you can. can you actually make money from it? you know one of the huge issues in the music industry is how do

the artists get paid in this world of digital music? what they did with the santa clara shows that they added because of the overflow, they broadcast it on youtube. it was one of the first, maybe the first youtube music stream, they think they had about 100,000 subscribers to that. this is blazing a trail like the grateful did early on when they came into the business. now there's this other revenue source. what's going to happen over the weekend is it's going to be on pay purview, it's going to be on the web. it's going to be a whole different way that this is going to be available to satisfy the idea that there was not enough tickets to give to folks. and they're going to give, charge $18, movie theaters for $18. you can get it in your home for $30. so jon, this is an interesting way to think about it are there other means by which using the web, using youtube, pay-per-view for artists to monetize their product. we know with all the companies like spotify, that the artists are not making a whole lot of money that way.

jon? >> the grateful dead always pioneers in figuring out how to make money beyond just the music. we expect a lot more. >> by giving it away, sometimes. yeah. there's a look at natera, a genetics testing company, soaring in its debut on the nasdaq, trades under the symbol ntra. biotechs have been hot this year. some worries that the ipo boom could perhaps end or is something of a bubble. let's get to the natera story. joining us is the natera's ceo and co-founder. you've had strong revenue growth. i think it was $55 million in 201 2013 to almost 160 million in 2014. can you keep it up? >> yes, i believe we can. you know our goal is not to keep growing revenues, but to make the world a better place, and i think if you focus on kind of testing that we do to improve health care decisions, and improve health care outcomes, i

think the revenue will follow. so we don't focus on the revenue, we focus on the world. i think with that focus, the revenue will keep coming. >> to the extent you're focusing on the world. now you have a lot of public shareholders who want you to focus on revenues and profits, what are you doing to make the world in your words, a better place? >> well, natera has take an set of communications technologies, that we use in things like our cell phones and spaceships and we've applied that to looking at tiny axts dna. to improve genetic testing. so the idea is being able too detect single molecules of dna, we can catch genetic diseases like down's syndrome and breast cancer earlier and more easily. so that improves health care decisions and by catching cancers for example earlier, our goal is to improve survival rates.

>> i know pre-natal has been a key, key use of your technology. but cancer seems to be where the real growth could be found as well. could you explain to me how the technology is applicable to diagnosing and/or helping people understand breast cancer or lung cancer? >> sure, if i might i'll just talk about the pre-natal space first, because i think there's a lost growth there as well and i'll talk about the oncology space. we have a set of genetic tests which look at small amounts of dna, sometimes as small as a single molecule in the pre-natal space we have a panorama test which changes the way that pregnancies are managed all over the world. before we came along, and other technologies that do a similar thing, that we don't believe quite as well as we do. women had to choose, they could have a traditional screening test where you had a risk of missing a down's pregnancy of about one in seven. or they would have these

invasive tests like an amniocentesis, where you stick a needle in the woman's belly. and that has a risk to the pregnancy. with a panorama test, nine weeks into the pregnancy you can do a blood draw from a regular needle stick in the woman's arm and we can look at traces of fetal dna in the mother's blood and detect all sorts of chromosoma structural problems that are potentially there in the child with a high degree of reliability without any potential risk to the pregnancy. that has a lot of growth. you'll see more and more pregnancies for women who are less than the age of 35. applying that technology to help manage their pregnant sis really early on. the same technology is applied in oncology. here you can detect tiny traces of dna that come from the tumor of breast tumor or a lung tumor or an ovarian tumor or cyst thans cancerous. by catching those mutations

associated with cancer in these tiny traces of dna you can catch the cancer earlier. in many cases you can help treat the cancer better by knowing how the cancer is evolving during therapy. so that's our goal to help manage disease and help catch it earlier. >> dr. ra rabinowitz, we're out of time, but congratulations on a successful initial public offering. >> pleasure to be here. up next, a carrier battle royale by t-mobile's john ledger and sprint's ceo are going head to head on twitter.

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get an auto insurance quote and see why 92% of our members plan to stay for life. t-mobile's john ledger new york city stranger to criticizing the competition, his comments sparking a twitter response from sprint's ceo. it started when ledger criticized sprint's new all-in plan when he said quote i give credit to sprint for swinging the bat when they do, but all in is a swing and a miss, guys. sprint's ceo claret fire back saying john ledger i am so tired of your bs, when you're wore than the other two carriers together, you went on to

criticize their lease program, calling it a joke and a fake show. ending it with #tmobile like hell. i guess this is what the feds wanted when they wanted this competition among the carriers. >> one-time potential merger partners, now at each other's throats, fighting over three and four, as they are and as we know, ledgere, he calls at&t and verizon dumber and dumber. he's got to fight back. sprint is in a very difficult position. >> we'd be lying if we didn't say it was the gift that keeps on giving. >> yes. and we can definitely expect more. have we ever seen an era like this of ceos, companies of this size? >> this is somewhat unique in my recollection in terms of you're actually able to read it and his use of that expletive, by the way, in any fight, an actual, i take marcello, he's about 6'5", he's this big. although legere is fast. >> david it's been such a

pleasure to have you here. have a great long weekend. before we go to halftime, a quick check of the markets still in negative territory, that's how we're going to end things at noon. we send it over to scott wopner and the "halftime report." ♪ ♪ kayla, thank you very much welcome to the halftime show, let's meet the starting lineup. steven weiss is here along with jim lebenthal and jon and pete najarian. greek drama, days ahead of the referendum, how to protect your portfolio no matter the outcome. deadhead, our resident reveler steve liesman live in chicago as the iconic band plays its swan song this weekend. stocks fighting to stay positive today. on the heels of a jobs report that came in slightly below expectations. and that is just one of the big stories we are following at this hour. we're watching the sti