. good morning it's 11:00 a.m. at comcast headquarters in philadelphia, it's 11:00 a.m. on wall street, "squawk alley" is live ♪ ♪ ♪ good friday morning. welcome to "squawk alley." i'm carl quintanilla more record highs today as the

run continues. 111 s&p new highs today as we watchaction in technology. despite some downgrades and plenty of commentary from henl fu hedge fund managers. alphabet becoming the fourth firm to reach a trillion dollars. the five top tech companies account for 70% of the s&p and worth $5 trillion combined happy friday, gent, go tshggente you. >> good to see you >> barry, you had moves in markets, bull markets of the '90s compared to bull markets of the '20s you said we have not hit the blow off top but we're on our way. >> if you look at the exponential trends, a curve increasing at an increasing rate that characterized the 1920s

bull market. it characterized the 1990s this one has been more linear and it doesn't have the upward sloping curve since the 2009 low. so i find it hard to believe that we've seen the top because we have not entered that parabolic move >> how would you know when we're close? >> well, you'll see the parabolic move that will be the first thing euphoria, a lot less doubt in the market i had not been a bull for a long time we were in defensives and bond problemsky proxies until last october when the fed made its move and the president made his move, we went with a more pro cyclical profile. we thought technology to energy and industrials would get a lift financials as well so far we only had some luck on the technology and the financial call we do think as the cycle ages we'll get more

>> to that point, the fact that you had alphabet enter the trillion dollar club yesterday, you have apple, microsoft, alphabet, amazon, facebook accounting for 19% of the s&p 500 index in terms of weighting. how contingent are these continued moves higher on this particular group continuing to drive it >> it's amazing. the f.a.n.g. stocks are back in play but i do think as we -- as we head into earnings season further, right now all the momentum is there. what you'll see is the chip stocks picking up even more. we have intel and texas instruments starting next week we'll continue with the chip stocks going forward they have had a couple of good weeks. i think it's very interesting that as the fears around tariffs in china have come off, i think that's one of the reasons you have seen apple really rally so much more, which takes all their component makers with them the other part of it is we all feared for chips for so long, they performed fairly well

they have an opportunity to continue to the upside, to continue the momentum in technology as barry said about the financials, there's not a single sector in my opinion that has had a harder time in terms of macro economic environment in terms of headwinds, yet they continue to perform well goldman sachs and wells fargo may have had disappoints, but those were company specific. overall it was still a nice season for the financials. >> for the folks playing at home, say you have been long this market the whole way through, what do you do here do you take profits so you have dry powder if things do turn down even if you continue to believe in the rally, what's the best strategy >> i think that's a great part of it. i think particularly for your retail investors at home watching so many times they think of things as all or none rather than partial ithought the most interesting thing from our client base last year is that apple was a sell, 9

of 12 months last year people may say that's terrible, your clients didn't participate, but it's still our number one held stock so people were doing exactly that yes, did they get everything to its fullest value? no, but usually people who want to be the first one to the party or the last one at the party don't do well. taking some profits on the way up, so to your point, you have some dry powder for other investments, that's usually a smart way to go. that's how professionals invest. >> the tape -- the fact that apple's market cap is about to eclipse that of the entire australian stock market. barry, the title of your most haven't report is the power of unlimited free money i guess one hypothetical would be what do we do if we begin to hear fed officials other than kaplan, let's say, start to lean into that. what if powell says don't get used to this, this will not last

forever. >> yeah, i would agree i think we have come far pretty fast we have eroded a lot of recession fear that's accounted for the upside year to date we settled down the repo market, which the fed shouldn't be injecting extess reserves at the same rate on a go forward basis after the spring as the thread tlfed throttles be may see pullback, but we're interested in the intercyclical rotation within the market versus a weaker dollar call and a ten-year yield moderate reflation call that would help the financials we're focused more on sectors shifting the deck chairs and less on s&p upside >> don't use the shifting the deck chairs analogy. that's not helpful >> fair point. >> we're always one iceberg away >> jj, the fact we've been having this debate about whether on a global level economic

growth, the slowdown in growth bottomed, where do you follow? i ask that in part because we got solid or stable data in the u.s. this morning. but some commentary from some key industrial companies that have reported earnings in the last 12 hours that suggest that maybe we have not been seeing a bottoming. >> well, you know, this is going to be a little bit tricky and to your point i was surprised we saw some of those comments also. you saw the numbers out of china, even though we had slower annualized growth, we had the greatest month over month that we've seen in many, many years so with that, i do think that we still have the great opportunities. for people looking as john said earlier, playing along at home, it's unrealistic to think we'll continue just kind of going straight up. it just is a normal market trading back and forth you would think we would have a selloff here as we have middle of the earnings season type of thing. because obviously some companies will come out with great statements

i think the expectations, the whisper number is higher i would expect to get a selloff. i'm not saying we'll have a 10% or a deck chair type selloff, but maybe 3% or so to force a little bit of people out so we can actually stabilize the market along with stabilizing growth >> gentlemen, have a good weekend. talk to you both soon. >> thanks. all right. let's flip now to the bird peacock, comcast and nbc universal, our parent, unveiling details of the coming streaming service set to launch july 15th. for comcast subscribers in mid-april. it consists of over 7,500 hours of programming, that's ad supported. the premium service will launch april 15th on a limited basis. 4.99 a month with commercials. free, i guess if you're a cable subscriber 9.99 without commercials stephanie meta of fast company and eli patel of the verge join

us now stephanie, it seems to me the question is not is peacock going to be successful i think it's strategically is it going to be successful enough to offset they're kneecapping syndication and the digital download kind of pure profit that they would be getting not doing this what will it take for this to do strategically what this company needs it to do >> there's a lot of open questions here this is the streaming service that was created by a network. there's no question that when you look at this, this doesn't have the sort of tech wizardry that you would expect from an amazon or a netflix, it doesn't have the great content and the original programming slate right out of the gate that you might get from a company that, you know, wasn't necessarily trying to monetize their library. i think that this is going to have to be a big home run for them and in order to offset as you

say some of the reputational damage and the damage they're going to take from cutting off syndication at the kneecap the other challenge that these guys face is just how much advertising can they accrue to this platform in order to make it a success and to offset the finances that they're not going to get by offering it for free to people. >> i'm not sure what is the game here what do they got to do it seems like if you're a free service, selling stuff that you know people like, it's all of law and order. people like to watch that. is it engagement is it loyalty? the ability to cross those people over into other products? >> i think they have to offset the revenue they were getting on a basis from their cable operators. you can do that by going to direct consumer and as viewers move away from broadcast, you have to offset those advertising dollars. the budgets we're seeing now going into ad supported streaming services are basically out of that experimental bucket

that most big companies have, i don't want to get it wrong and tell my board i missed bucket so we'll throw money. whether they reup and come back for round two in year two is an open question. at the verge, we have the go 90s scale of doom services it's 0 and 90 is dead. i peg all of these at a scale of 45 doom right now. they have to launch, the technology has to work they have to get people to download an app. that's historically difficult to do the average number of apps a person downloads in a month is zero they're all looking at the disney launch, based on the mandalorian, baby yoda the entire disney empire looking at the screen saying disney plus is out now >> are they going to do baby shrek? >> they don't have any of that stuff yet. this is hard that's why there's a free tier limited to get you to think i should poke around at this but converting early interests

into subscribers, recurring subscribers who don't turn off, that's going to be hard for every service. >> we'll pay attention to downloads in the early days. more interestingly, maybe it opens up -- we thought we understood where the streaming wars were falling out. the argument now is ad supported is a new front that will create an additional wave of money in ways that maybe we were not thinking about six months ago do you agree >> i think this is an effort to get people to download the app and to poke around and to try it for free i don't know if ad supported is the long-term play i think it's the candy that gets people in the door it's an open question as to whether or not these advertisers will say streaming is the way to go >> you think they're wedded to television >> i don't think they're wedded to television. i think if this is a conversation about advertising, there's a whole host of challenges that that industry is going through. and none of the big agencies,

none of the big cmos have any of the answers. i feel like traditional advertising in general is going through a massive disruption that's why you're seeing these big advertisers like p&g, they're sponsoring programming they are not advertising they are creating original programming that has them embedded in it they're creating some of the content that competes with stuff that you see on a streaming platform >> exactly the most direct comparable in the marketplace right now is hulu, which said in the past the most popular service is that ad supported service. peacock said it will include ten different advertising formats including shoppable ads, binge ads, the idea that an advertiser sponsors an ad-free show there's experimental advertising. maybe more quality over quantity that's experimented with here. >> yeah. if you look at that list of formats, they're trying to hit every point. here's some brand advertising you can do

here's some integration, here's the holy grail of all television here's a direct purchase because you saw something on the screen. only the home shopping network has done that on traditional television the real question here is you do those formats, you do that experimentation because right now you have zero users until they have data about what people are watching, if that library is driving people, whether they can capture share back from netflix, youtube, instagram >> let's be clear, a cable company has no problem with their data they know the customer probably better than disney does. >> i don't know. that shifts to watching it on the phone, watching it when other apps are on the screen i think it will be more disruptive than what people are giving it credit for when i talk to executives, the overwhelming sense i get, they all talk like they already won they already know how consumer behavior will shift.

if anything has proven to be correct, people spend more time on their phones and you have no idea tiktok is the most successful streaming launch over the past year and as far as i know, it's teenagers jumping up and down. >> let's expand the conversation and fold in facebook which is dialing back its efforts in scripted content, rethinking its strategy on placing ads within whatsapp and facing we newed attacks from several politicians including andrew yang and pete buttigieg along with house speaker nancy pelosi >> the facebook business model is strictly to make money. they don't care about the impact on children. they don't care about truth. all they want are their tax cuts and no anti-trust action against them they schmoozed this administration in that regard because so far that's what they received

i think that what they have said very blatantly, very clearly, that they intend to be accomplices for misleading the american people with money from god knows where. >> i think facebook might put that differently >> yeah. >> stephanie, it's interesting to me, first on the content front that facebook is stepping back from scripted content just as nbc is leaning into it. when facebook has the answers to the things, a lot of the things that nbc has question marks about. they already got people downloading a bunch of apps. they already have one of the two monster digital ad networks out there. why do you think they didn't just invest billions in content and do peacock themselves? >> i think the broader context of all of the things we'll be talking about with regard to facebook, whether it's regard how they police political ads, how they approach original scripted content, i think they

are trying to say we're not a media company. all of these things to me signal we're not in the media business. we are a tech company. we are a utility we're the platform so i'm not saying they're pulling back on scripted because they're trying to send a signal they're not a media company, that's a consequence of not behaving like a media company. a company that had media executives -- they have not made the moves that an apple or an amazon have to hire a high profile hollywood person there is not somebody in there who comes from that world who can say, no, give me that data and give me some creatives and give me license to go out and build this i think this has been an experiment like a lot of other things and they tried clearly they failed. >> meanwhile, pete buttigieg channeling his inner can yeah we kanye west saying no one man should have all that power that mark zuckerberg has. to me, that's ironic, because this man is running for

president. he is saying mark zuckerberg is too powerful >> traditionally presidents have had american better governments around them than mark zuckerberg that's real. he's the sole single controlling shareholder of the company all shareholder votes against him fail he does have an enormous amount of power over the company, and the company owns one of the biggest and most powerful information distribution systems that has ever been created in the history of the world whether that's a media company or a tech platform or not, it's just true if facebook's algorithm shows everybody something, they will see it. whether that should be scripted program at a higher level because they wanted to compete with netflix for five minutes, whether it's their doomed facebook video program because they wanted to compete with youtube for five minutes, they will try that stuff but their belief is in that algorithm, that anything will be successful if they use the algorithm to their advantage. >> speaking of trying things,

let's talk twitter jack dorsey asking elon musk at the all hands retreat how he would fix or change the social network. musk's answer in short,identif the bots is that a fix? >> yeah. absolutely what is the biggest problem with twitter? you have no idea who's real, who's fake what's being amplified by bots from whatever country or interest group wants to amplify their message. elon himself is dogged by the tesla bots that exist. there was the never warren hashtag where the top three posts in the hashtag were saying this hashtag is dumb the bots amplified it to number one in trending. we're all more comfortable that we can see what's going on because you can switch your timeline, you can filter that timeline as a person a little more carefully than you can as facebook so it appears to be more transparent. for the average user it's still hard >> ubs cuts it to neutral, stephanie, their point is this

should be a year, given the olympics and election where twitter should thrive. instead this ad bug that haunted them in 2019 puts them in an investment headwind for this year anything wrong with that narrative? >> the ubs narrative >> yeah that they're having to spend money fixing their problems rather than enjoying a banner environment >> i think it's right to be skeptical. it should be a banner year for them, but this is a company that has to fix its ad problems elon musk pointed out a real situation that could drive users away nothing guarantees twitter success. so i think it's right for investors to take a close look and peek under the hood. >> is there a reason to think that twitter is going to do away with the bots or make the ability to sign in and log on and use twitter, you know, a stronger process elon is not the first person to say this people have been calling for this for years

>> i think we all criticized twitter for not building a lot of product i would still like that edit button >> you say that every time you come here. >> there's only one reason to come on your show. it's to advocate for that. >> i'm here to say no. >> look, i'm right they have done a good job over the past year getting their platform replaced where they can iterate correction there was a product at ces, they are moving faster, and they are proud of the fact that they're moving faster. i think those two things have not necessarily been true at the same time at twitter in the past so we'll see i think they still have a lot of work to do to make it healthier. you can see they're rolling out features here and there at a faster clip than before. >> we'll move a bit faster a lot to get to in the show. great to have you guys still to come, china's phoenix tree going public behind us we'll talk to the executive chair.

nasdaq has gone negative the dow, which was up 76, now up 7. you leave it to me. i'll get your taxes in an ok place. what? just as soon as my audit's over, this gets my undivided attention. you take a lot of trips to the islands, phil? pretty great, right? oh phil's legally dead. fell off a boat. going by denis now. celery. long story. what do we got here. oh. not going to want to see this. i don't think this is going to work. just ok is not ok. at&t has america's best network, now with our best plans, at our best prices, starting at $35 a line for 4 lines. new from at&t. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk.

♪ talk, talk

welcome back to "squawk alley. china's phoenix tree holding opening for trading earlier. the chairman derrick chen be joins us now welcome. >> thank you very much >> let's talk about phoenix tree you do co-living in china.

what does that business model entail. >> we are the largest co-living platform in china. we are the fastest with growth by the end of november we will have more than 342,000 apartment units in china it's like a three or two-bedroom apartment and each with a door so it's like a three-bedroom apartment into three apartment units and people share the living room. it helps young people to cut rent by more than half >> headline today, hong kong ipos are happening at the fastest pace in 18 months. why did you go public here. >> i used to study here. i like u.s i think u.s. market is a big branding exposure. >> i'm reading through the document here, and i can't help but think of wework. athink a lot of i think a lot of investor also do that. you're growing quickly, not profitable how does this model work to your

advantage and when >> sure. talking about wework, there's a huge difference between us and wewo wework wework is for the commercial rental business. for us it's residential rental they're like a lot of people in china, the market is huge. the market in 2018 is 1.8 trillion r&b the number will grow to 5 trillion the institution like us, they only contribute 2% of the whole market it's significant for us. talking about the future, how to make it work, once we have enough units, we will grow fast, eventually we can become profitable >> is this mostly in primary cities, secondary cities it's an urban story mostly, right? >> that's a good question. we target on the tier one and tier two cities. so more than 500 cities in china, tier one and tier two cities, there are about 37 of

them >> it's a big he week for u.s./china relations how soon do you expect to see positive fallout from phase one? how would that be reflected in your business? >> i'm not an expert there for me, we focus on the chinese economy going up we're bullish about chinese economy. so as long as the chinese economy goes up, we'll be very good >> how closely are you watching some of the demographic data we had that birth rate that hit a 60-year low that was released overnight for china last year. is that a concern? >> like i said before, the residential rental market is huge in china. it's 1.8 trillion two years ago. plus, you know, there's key drivers, like power the growth of the whole market, one is how housing prices people are flowing from from

tier three cities to tier one and tier two cities. young people have to buy a property to get married, but now young people want to rent for a long time. another key driver is the chinese environment strongly supports residential market. maybe one reason is because the housing prices are too high. >> thank you for joining us today. phoenix tree holdings going public earlier shares down about 2% >> thank you very much time for a news update sue herera has that. >> here's what's happening icy conditions at the kansas city international airport causing a delta air lines plane to skid off the runway it was set to depart for detroit when one whooeel slipped off th runway causing it to skid. nobody was hurt. harvey weinstein in court for another day of jury selection. more than half of the pool of 600 jurors have been dismissed

eight have been picked weinstein pled not guilty to sexual assault charges. bose is closing its doors. they are closing all of their retail locations and laying off hundreds of employees. it says most of its customers are now buying online. and betty white turns 98 years young today. the six-time emmy winner telling parade magazine the secret to a long life is to accentuate the positive, not the negative white's career has lasted more than seven decades with appearances on both the small and the big screen we wish her a very happy birthday you're up to date. that's the news update this hour have a great weekend it's a great football weekend, carl, right? >> it is i thought morgan was going to say something. >> i was going to start saying thank you for being a friend >> there you go. >> oops. >> then i see you've got this

cheese head. >> yes, i'm rooting for the packers. rooting for the packers. >> that's going to be a great weekend. >> my goodness have a good one. >> thanks, sue >> you're welcome. when we come back, the former vp of content at netflix will weigh in on peacock when "squawk alley" is back in a nute imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com

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turning back to peacock after that announcement yesterday. comcast revealed the details behind its new streaming play set to launch july 15th. stock hits an all-time high this morning. executives detailed that peacock will offer free ad supported option and two premium pricing tiers. this is nbc universal's ceo jeff shell about the content investments. >> i'm pretty confident when you combine all of this content with our proven ability to market and launch new products with symphony and what i think is a smart strategy of taking light advertising and bundling to

create an unbelievable experience free for consumers. this will be a successful product and it will be one of the key elements of growth for nbc universal going forward. joining us this morning is former vp of content at netflix, elizabeth bradley, she brought a number of new international shows to that platform during her tenure there great to have you back good morning >> thanks for having me. good morning, carl >> i wonder what you think of how we, our parent company, is approaching this strategically and tactically >> i think it's exciting for nbc to get into the fray and the entire industry is shifting to an on-demand model no question that's what consumers have been responding to it's time for nbc to jump in the challenge for them, as you mentioned, it's a july 15th launch, which makes them kind of the latest even in the launching in 2020 services so we'll still have a couple more services coming online prior to that. hbo max will come on in spring the quiby before, then peacock

the name still makes me smile a bit each time, july 15th i'm working on making that a comfortable name to say all the time >> the bulls would argue, i think, that if disney used the mandalorian and the "star wars" franchise as early rocket fuel, that comcast will do the same thing with the olympics. how powerful is that well, i think live viewing is one of the great unknowns as we move into this on-demand universe you're right it's an arrow in the quiver of nbc that differentiates it every time the olympics come on, the world stops to enjoy premiere athletes. it will be interesting to see, as you said, plays like the mandalorian, that's an on-demand show you can watch multiple episodes when you want the olympics is a live event that usually you don't want to see it three days after someone won a gold medal it's a bit different it's interesting to see how it will be leveraged on peacock

>> elizabeth, what's the game here for nbc universal and comcast? i know we tend to count subscribers, but they're not going pla going mainly for that, they're going for advertising. is it the one advertising platform across the different media that people should be concerned about? is it engagement trends? the ability to surface gems in the library? what >> it's a little bit of all of those. you're right, having advertising is the only -- they're one of the only platforms doing that. hulu had an ad-supported offering for a long time outside of that. everyone else has chosen to be a subscription only model. nbc was clear yesterday in that announcement that you have shown that they want to leverage having a product for advertisers and take advant taage of that revenue scream in addition to a subscription model hulu articulated in the past

that the majority of users use the ad supported model if nbc can effectively leverage both revenue streams, that's f differentiating for them the dvr changed how we all watch advertising in the programming that we watch on demand. so, it is a different type of service to offer we'll see how consumers respond to that. >> elizabeth, i want to dig into it the point, you made about sports a little bit more it seems to me it's sports and news that have continued to make the value case, make the proposition for linear tv. espn certainly espn plus was one of the early test cases for bringing sports to streaming between that, between what's going to happen with the peacock service, how do you think that will evolve? what does it do to those cable subscriptions? >> well, morgan, i think that's the most interesting part of what's to come in the next

couple years in terms of on demand and streaming players as you mentioned, espn plus has come online. but the major professional sporting league rights that espn has don't get necessarily streamed without having a cable subscription so, nbc and peacock coming into the fray, the olympics are always a huge event and they announced yesterday they will have some premiere league rights they can show to u.s. consumers online that sports play, i think, is really what we will have to see. if you look even in the last six months, some of the top rated linear ratings, meaning people watching networks, of course it's still on sports we're going into playoffs this weekend in the nfl those will be on linear networks those are not on demand plays at this point how that evolves is the great unknown. what happens to nba rights, many, lb rights, hockey rights we'll have to see the ncaa, a huge draw for lots of networks

for tnt and cbs as march madness comes up at this point, that world has not transitioned on demand peacock looks like they'll be one of the first offerings this summer with the owe limb palympl and then the soccer in august in addition to the ryder cup in september. we'll see how that does work when you put it into an on-demand play when it's a live sporting event that's where the advertising play will hopefully differentiate dredged up the ag old question on whether netflix would follow suit. you seem qualified to answer that question. would they. >> for every player you have to look at your overall business model and what you're trying to achieve. amazon thinking about leveraging their entire amazon shopping network. each player has to think about that differently netflix has a business model

they succeeded with. they're continuing to try to expand globally. i don't know shifting course in your business model at this point is necessarily in their cards. but we'll see. i think everyone will be watching peacock to get a good sense of how does the advertising component affect viewership and the response of consumers. >> always great guidance, elizabeth. thank you very much. >> thank you for having me taking a look at the major averages now after hitting record intraday highs, those gains are largely fading for the dow, the s&p and the nasdaq keep in mind, the dow and s&p are still on pace as of right now for the largest weekly gain in five months we're back in a minute non-gmo, made with naturally sourced colors and flavors and are gluten & dairy free. they're all clean. all the time. even if sometimes we're not. sundown vitamins. all clean. all the time. the unparalleled landscape of park city,

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dow slipping back towards the flat line, only up 29 points as a reminder, as we head to break, can't get enough marjory stoneman douglas, watch squawk. we're back in a moment a new brokerage account,enn your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. (woman) no matter what business you're in, digital transformation never stops.

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and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk here's what's coming up at the top of the hour on "the halftime report. new details on david tepper's market thoughts including when he got more bullish and why. plus the trillion dollar club gets a new member in google. is it a sign of more gains to come or that some big tech stocks are too crowded and pete's been doing call buying in a name that's gotten smoked lately. we'll tell you what it is in unusual activity halftime worth report begins atn tech continuing to fuel the broader rally. the sector up 50% in the past year cloud stocks are among the gainers. look at the first truck cloud

computing etf, the ticker is sqyy, names including google, amazon and microsoft for a closer look at the competitive cloud space, we're joined by crystal belmont taking over at cloud data integration company taland last week welcome. >> thank you for having me what do you expect you've been in the space, software as service for a long time what do you expect in the multi cloud world will be the definer of success in 2020 >> look, i am very excited to be at talend. talend is a global cloud data integration company that focuses on a real problem that is the hottest thing now. which is data is at the heart of every conversation that is going on for companies and having data that's in a usable, secure, accurate format

and being able to put that in the hands of companies to make great business decisions i think that's going to fuel a lot of the conversations that come up in the future. >> so, this year, we're hearing amazon, microsoft, google leaders all talking about, in their cloud operations, they're scaling up their sales forces. now, a lot of your legacy is in driving revenue, you know how important those sales forces are. how important is it to either latch on to one of those big players, if you're a smaller player in the space like you are, or are you just going to get trampled >> well, listen, they are all great partners of ours they're an important part of the ecosystem. i think at this point, when you look at a place where talend is at now, 250 million and heading to a billion, this is about scale. it's an important part of our growth history, and it's an important part of our growth future >> you are a bit unusual,

unfortunately, in that you are a successful female enterprise executive taking the reins as ceo. and you're bringing a few senior female ent prierprise executives with you what opened up the opportunity for that move and what message does that send >> i look at this by what is the role and what is the opportunity to step into the ceo shoes and take the rape reins and move ts organization and the company to $1 billion and beyond. i look at the existing leadership team and how we can compliment that and where are there gaps in the leadership team and placing a cro and then also putting a customer first approach into our chief customer officer. both first and foremost is about picking people that have a reputation and have history in performing and scaling businesses in cloud functions.

so this was first about finding the right people for the role. i'm happy to be a trail blazer and making sure that we bring diversity to a leadership team and we continue to expand those horizons 5 out of 8 of our executive leaders are women. i would say that's a data point, are using multiple clouds, it is not necessarily winner take all. how do you see that evolving and why is that such a strong opportunity as more and more companies become digital >> that's a great question listen, this is an ecosystem that continues to change and i think the position that each of those organizations including talend is in is not

just to look at what the current state is in terms of where the needs are in the market, but really where the market is going and what will the obligation asks opportunities be for us to play an important role in it when i look specifically at data the thing that we all look at how we solve problems around is data is an asset in its best use case but the reality it has become a liability and a risk in terms of gdpr in terms of regulatory concerns we are looking at information on how we can take what is a valuable asset and make it important and give it a competitive advantage to the customers we serve. >> it is a hot area. you have got a lot to do crystal belmont thank you for joining us. thank you for having me. still to come, microsoft's chief satya nadella weighing in the apple/fbi controversy we will tell you what he said after the break. we are back in two

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innovation fund. we are very excited. we know it is a small park frankly of what all of us will have to do to achieve more. >> in case you missed it, that was microsoft's ceo saying the company will be carbon negative by 2030. also weighed into the apple/d.o.j. controversy over privacy. take a listen to that. >> both things matter here the two things being privacy as a citizen as a user i care deputily about privatesy as a citizen i also care about public safety. both have to be balanced i think we have to come up with legislative mechanisms for that. things like back doors are just bad ideas. like the cloud act, which is a different realm today is actually a good first step. >> fascinating to hear him weigh in on that some of these carbon targets for 2050 are pass dating giving balmer credit for cloud.

>> satya worked for balmer as the head of server and teals that evolved into cloud. i would argue balmer doesn't get enough credit for that stuff as for what he was saying about the d.o.j., legislative mechanisms i take that as a euphemism for stop trying to shake us down for back rooms federal government there should be clear guidelines and rules that citizens and companies can understand for how this is supposed to go and even appeal if they need to. >> the climate change situation is certainly key especially when he pulled it into the esg debate that's been rippling across corporate america and wall street as we get ready for davos next week it's the going to be big on the docket there finally, how about amazon chief jeff bezos making his red carpet debut with girlfriend lauren sanchez they were in mumbai for an amazon prime event that's the two of them there it brings me back to the rental

debate where men are concerned when i see a very statementesque jacket like that. >> i am thinking he did not buy that on amazon i am going to go out on a limb. >> well, third party >> his choices are getting more and more interesting davos next week, netflix, ibm, and a whole lot for. let's get to the judge. i'm scott wapner, front and center the bull run for stocks and the big name investors who tell cnbc they are staying long. it is 12:00 noon on this friday and it is the "halftime" report. riding the rally the bull run and the stocks they are buying. trillion dollar winner joining apple, malaysia, and amazon in the exclusive club it is also the best performing f.a.n.g. stock right now will that continue

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