>> i like cvs. kramer mentioned it on mad money. 70% of americans live within three miles of a cvs they'll be delivering the vaccine. 2.8% dividend. 12 times earnings. >> real quick. >> draft kings >> good stuff, guys. thanks for watching. the exchange is now. the hi, everybody. it's the rotation from fame to well, fame the energy stongs have outperformed plus from coast to coast, we'll show you how retailers, hospitals and governments are preparing for a vaccine rollout that could get approved in the next 48 hours. and exclusive data on where all all cash home buyers are going how they're doing it and whether all buyers can do it it's all ahead this hour

let's begin with the markets and let's look at the action we're seeing with stocks down as much as 164 points and the dow with the low down around 71. that's a quarter%. the the nasdaq down 1% and all the averages are on pace for their worst week since october. energy is the bright spot. investors are seemingly trading one fang in for another. the tech giants down including 3% drops for facebook and google there week meanwhile, diamondback energy, ticker fang has some bite. it is on pace to finish with a 3% gain is morgan stanley just named it a top pick for 2021 let's talk about it. we welcome in the president of icon advisers and brad mcmillan with commonwealth financial network. welcome to both of you what do you make of tech's underperformance really going back to early september? does this create an entry point for investors? or do you think it has a long

way to go and other sectors are much more interesting? >> it is clear there is a rotation we're finding the best values and the potential leadership in the economically sensitive cyclical sectors, industrials, materials, and energy as you pointed out. also financials. we think this market can move higher with that type of leadership >> are you worried about the financials front >> we don't see that as hurting them that much we think they can grow earnings. in fact, the analysts are calling for a really impressive yearover year in earnings over the next two years >> yeah. and people often debate whether or not interest rates the most important thing for them anyhow. certainly they've performed very well any time we have a reopening session. let me ask you part of this, i guess, is predicated on what comes out of washington this morning there is more nervousness about the fate of

stimulus bill. does the rotation need next stimulus bill to keep taking place? >> i don't think it does need stimulus bill. what we'll see here is we'll see the economy slowly transition back to something close to normal over the next six months. so you'll see all of the companies that thrive in a more normal environment and come back as you were saying, we're really talking about the financials, energies, demand comes back. all the stimulus will do if we get it is limit the damage over the next three months. after that, we should be back to something approaching normal >> so brad, this is starting to become consensus now you know how valuations caught one what everybody thinks about the reopening trade. >> actually, the market is a lot cheaper if you look at it on 2022 earnings. it is at the lower end of what we've seen recently.

about 18 times so there is some up side here. the question is how quickly do we get to those earnings we're saying 2022. at the same time, analysts have been consistently too pessimistic. i think there's an upside. i think we'll see normalization faster than people think companies are continuing to adapt. >> and craig, you also think we're about 12% below fair value, is that correct >> correct we see stocks 12 to 15% below our estimate of fair value >> we've talked a lot over the past couple years about stocks being under prices, you say relative to where they should be trading. that doesn't stop them from having sharp pullbacks along the way and i can't recall if they've ever really closed that gap, have they >> there's whole saying that stocks climb a wall of worry and that's pretty typical right now. there is a lot to worry about and stocks we believe will keep

climbing >> fair enough everything from if the next stimulus bill doesn't progress to what happens if the vaccine rollout isn't as smooth as everybody is expecting where do you think investors should be place go their bets? >> i think a lot of worry is priced in. everything is talking about the things that can go wrong and they can go wrong. i've the vaccine rollout is not guaranteed the recovery is not guaranteed but let's think about the upside here everybody is talking about fearful what happens if we get the vaccine rollout successfully and people all of a sudden can go shopping, travel again, they can spend, all the houses they bought they want to buy new furniture and now they feel better so they're going to do it i think investors should be aware of the risks, thinking about the upside, too. right now, fear is the main trade. maybe we need to start thinking about the grieve trade

>> okay. hearing about that already, given some of the euphoria levels >> we appreciate it. as mentioned, dow would be down more if it weren't for disney. in the meantime, let's turn to the latest on the vaccine as we await the final word on the approval the the fda we have full team coverage of this story when we can expect the green light for distribution frank is live at a hospital in newark as it readies its rollout to front line workers and kate rogers is in quafl that state's plans for who will get it first. meg, let's start with you. >> hi. this timing from the fda could come at any time the "new york times" reports as soon as later this evening the fda for its part did put out an unusual statement this morning saying after the positive advisory committee vote last night, it is working rapidly, will pfizer, toward

finalization and issuance of an emergency use authorization. it says it has notified the cdc and operation warp speed so they can execute their plans for timely execution they broke it down to 17 in favor, 4 against, and 1 abstaining many were surprise that had one abstained. we've heard from all of them exempt for one and each has said it was a matter of the age that was included in the question can. perhaps authorizing this for people age 16 and older. most thought there wasn't enough data to support the clearance of 16 and 17-year-olds. we just got a response from another one of those folks who voted no dr. michael carrilla who said emergency use authorization is only applicable for life threatening conditions severe covid with potential for a high risk of mortality is predominantly found in older

populations. he said he thinks the benefits outweigh the risks and certain high risk groups so the fda acts soon clrgs we expect it will the cdc has a meeting of outside advisers to discuss the vaccine. it will meet over the weekend as well to officially recommend it. and then once they get that green light, within 24 hours, almost 3 million doses will go out and start to ship. >> so we're only waiting for the fda's green light? not for the cdc? >> the cdc doesn't have to give the green light in order for these vaccines to start being used but it will essentially do it simultaneously after the fda's green light. >> yep it's not like you want them on recommend againstit but still, trying to figure out the timing of all this. the fda to watch in particular

meg, thank you so much we appreciate it let's get to frank hollen with more on what happens at hospitals once the vaccine arrives. frank? >> hey, kelly, i'll here at university hospital in newark, new jersey i'm standing right in the middle of the vaccine assembly line yes, they will be given right here in these chairs this hospital is expected to be among the first in the nation to give some of the first doses of pfizer's covid-19 vaccine. we'll show you how it works. first, patients come here to registration they give their zmam other information. then they take a few steps over to here. they sit in one of these chairs and then they're given a quick health check they want to make sure they're healthy. they're given vaccine while they're sitting here and then monitored by a nurse for about 15 minutes to make sure there are no adverse effects the people giving these vaccines will be wearing what i'll wearing along with one of these face shields a glove and a mask

the hospital has been steadily preparing for this to happen their 1,000 front line workers are testing the initial logistics how to safely inoculate large numbers of people in a single location. hospitals have experienced giving imzags every year for the no but they need keep this super cold and use it all once thawed are a few of the complications in this vaccine process. >> we have the responsibility to handle not whoonl is going well but things that may not be working and changes in real-time. we have to move fast the science moves fast, everybody moved fast to get us here it is our responsibility to vaccinate as many as possible fast but also to learn throughout that process and communicate that learning to everybody >> and the university surveyed its workers. about half say they're willing to get the vaccine right now

before the a quarter say they want to get more information another quarter said they're not willing to get the vaccine and the doctor said a key part of making this the vaccine seem safe to the public is convincing the staff at the hospital that it is safe and infect. >> did you say a quarter of the staff don't want to take the vaccine? >> yeah, absolutely. the hospital is very transparent with this. they took a survey of their employees before the a quarter said they're not comfortable, at leaf not yet so while the hospital what's that 1,000 front line workers, they expect to take about a week to vaccinate as many as all of them .to the doctor he said if they can get 70% or more, that would be good health care workers, like the general public, many of them have questions >> sure. that's really interesting. fascinating to get a look at when will happen behind you. we really appreciate it. let's get out to california. hospitalizations and cases keep

surging with cases up 70% in a one-week average kate >> reporter: a small light at the end of the tunnel as the first round of covid-19 vaccines are projected to arrive in the state within days. and you said it. covid cases are really surging here icu capacity continues to shrink the state said it is expecting 327,000 doses of pfizer's vaccine on the way with a second shipment to follow in addition to that, governor newsom said 672,000 doses of moderna's vaccine are also expected by month's end, more than 2 million doses are projected to be delivered in the state. so who will get this vaccine first? in face one, the state recommends vaccinations for higher risk health care workers like those in direct herring or long material care settings. as well as nursing home residents and assisted living facilities for older or medically vulnerable residents >> it has been a long and dark tunnel for those working in

hospitals. nurses, doctors, therapists, who have been at this for almost a year they are exhausted they are stressed. they are burnt out the number of cases is rising at an astronomical rate this vaccine is the first step to really begin to help us mitigate and slow that case down >> reporter: here at ucsf, the hospital saying it expects just under 1,000 doses of pfizer's vaccine, initially, it couldn't come at a better time. the state's economy has been truly hard hit by the virus because it relies so heavily on tourism which has been all but decimated here we're under new lockdowns and restrictions about 85% of the state is under some time of restrictions right now. so a long way to go, of course but one step in the right direction here >> and kate, the they seem to be starting with the health care workers. from what frank suggested, maybe it takes about a week or so at

some hospitals are you hearing anything about how fast that rollout might be in a state like california >> it is going to be a huge task there are 2 million health care workers in just that first tier alone. it is a two dose vaccine obviously. so if you get 2 million doses, it looks like about half of them might be able to get it. the person we spoke to there earlier said covid is the story of shortages there has not been enough ppe, not enough hospitals this will be the same. hospitals will have to decide who is highest risk and who will get that first as it rolls out >> yeah. >> kate, we appreciate it today. out in california. san francisco, with the latest there. coming up, one step forward and one step back. stimulus talks stalling as the clock ticks toward a government shutdown the latest from d.c. is next plus, unparalleled disney wins, mind blowing

these some of the terms being used and look up shares, they're you more than 14% right now. that's helping the dow almost stay positive. down about 48 points right now we'll have all the details on this big mover, just ahead ok, just keep coloring there... and sweetie can you just be... gentle with the pens. okey. okey. i know. gentle..gentle

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welcome back the stimulus stalemate continues while the government ticks toward a shutdown. let's bring in elon. >> the prospect of a government shutdown has diminished but not disappeared. midnight is the deadline to keep the lights on for just one more week and this morning rand paul backed off his threat to hold up this process over his objections about defense spending and troop levels but there are still two potential road box one is the unlikely duo of bernie sanders and josh holley they are demanding a response on their bill for a stimulus checks $1,200 for adults $600 for kids. it is creating an automatic measure that you are would kick

in if congress can't make an agreement. it 19 bill to end government shutdowns could end up causing one at least for today and even if we do avert disaster at midnight, this all just kicks the can down the road until next friday back over to you >> nothing sums it up like saying the bill to end shutdown cosmetic lead the a shutdown that's the only leverage you have to get this stuff through are you hearing this we would know by now if there was white support for that measure and how long can rand paul hold out. in other words, is this just tune in this afternoon, this evening and let's see? or are these he real hold-ups here >> well, reality is that the government will get funded at some point the problem is the clock if they do not meet the midnight deadline, the way the procedural rules work, would it allow some senators to drag this process out as long as through the weekend. but eventually, it would come to

an end and the government would reopen there's not really debate about whether or not the government should be funded it is about what should be attached to that overall spending measure and we'll be going through this process again and all of this will be wrapped into negotiations around another coronavirus relief package and a comprehensive spending bill has to get done by now today but by december 18th as well >> yep exactly. all right. we appreciate it my next guest says by monday it will be an agreement in principle or congress could run out of time to pass the stimulus bill james is the economic analyst and a cn bmp c contributor stephanie, i was referencing your thoughts. you're looking for some movement monday at the latest >> yes and i've really been looking for some agreement by today and i'll give them a couple more days of

grace but just the amount of time it would take to pay for the deal and the legislative process and then move it through both chambers of congress. if they want it to continue to be attached to the federal spending bill, as she was saying, the bill will expire next friday. i would need to see some announcement that they've reached a deal by the end of the day monday at the absolute latest >> some of the main sticking points to be over jobless benefits speaker pelosi said she didn't like the white house proposal. that got rid of the extra $300 bonus. but it does have the payments. what they're pushing for so how likely do you think it is that a second stimulus check is coming and could that be a way to resolve both disputes over both these bills >> to be honest, i think the second stimulus check has been a real complicating sort of factor there seals to be some general agreement. but aid to small business, in

some quarters, aid to state and local governments, and of course, extending unemployment the alternative that would replace it in some cases so we're adding new wrinkles rather than agreeing we've agreed on a big number you think that would be like 99% agreeing on the $900 billion a tremendous amount of money and then coming to agreement on some of the other portions the fact that we have not, that we're adding new wrinkles, and the fact we've known with this for months we've needed more stimulus to create a bridge to when we have these vaccines it is not done that reality in and of itself is the greatest reason for skepticism >> so stephanie, a couple of things leader mcconnell last week said we are not leaving washington without getting this done. he was referring to the skinny bill he unveiled that didn't have the liability shield.

is it possible we go through all of this and it is the skinny bill that gets double? or do you think the only way to move forward is in the $900 billion come promise range teeth bipartisan bill last week or the newer white house version? >> yeah. and pelosi has made similar comments so leaders in both chambers have basically said no one is leaving until we solve this. in washington where there is typically, where there is a will, there is a way, i think the biggest complicating factor is that these georgia senate runoff elections are still looming large. so both sides are not sure if they're going to be in the senate majority next year. and if they are, that gives they will more leverage so neither is willing to back off. but all that being said, mcconnell has sort of characterized through intuition. i think it needs to be bigger for democrats to support it.

so i think that $900 billion number is what i'm expecting >> interesting we keep talking about december 18th they're going home are they the real deadline is december 31st ostensibly, could you work past it and make it retroactive we've had stories of congress sleeping in washington during negotiations in recent years why is the december 18th really the deadline or is it >> i'm not sure that is the deadline remember, you have stories about people sleeping in washington. it is not nearly as important as getting this covid relief measure through. i'm sure you've had plenty of guests on here, wall street strategists who have just assumed there is a pretty big clunk of money coming. maybe it's $700 billion. maybe $900 billion i think every day it doesn't happen, i think people begin to question perhaps in the end the action

forcing mechanism would be the margaret the market is only realize go even though it seems wildly objection that we need this money, that the odds are growing that it doesn't happen maybe eventually that is what will force action on capitol hill >> if that even happens. given the way sent symptom going into year end on this market we're still seeing stocks track fate of there bill thank you both for your thoughts today. we'll see what the weekend brings and coming up here on "the exchange," cash is still king. home buyers. where they're headed and the role they're playing in this increasingly tight margaret. plus, why tesla can't dominate autos and this rally is about to go into neutral. tesla shares down 3.5% and don't forget, you can watch us live on the go any time. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard

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see yourself. welcome back to the mirror. and know you're not alone because this. come on jessie one more. is the reflection of an unstoppable community in the mirror. welcome back to the exchange the housing market is red hot as low supply and strong demand makes the market super high and sellers pickier than ever. that's giving all cash buyers a leg up diana? >> we have some exclusive numbers from realtor.com that gives great insight into the market all cash sales now make up about 36% of sales and that's up very slightly overall from last year but there

has been a much bigger shift by location and price point all cash sales are way up in the northeast and west but steady elsewhere. looking locally, the highest share of all cash sales are in nassau county, new york. just outside of the city in long island nearly half of all sales there all cash then the next six top markets, all in florida atlanta and tucson also saw a lot of cash buyers on the flip side, a very low share of cash right here in washington, d.c. in denver, san diego, and oakland, california by price point all cash sales jumped 6 percentage points at the lowest priced tier and three at the next rung up the middle pricers stayed about the same and actuallydropped i the 750,000 to $1 million range. then at the top of the margaret, another jump in cash in the million plus range investors have always favored cash but are doing so even more this year. they're usually on the low end of the margaret. the high end buyer using all

cash, that may be more about competition for those big homes with all the outdoor work and school from home basis and the jump in the everythiquities mart >> i can maybe see how wall street with the bonuses or silicon valley, how those could be cash buyers on the high end i'm curious how this impacts the overall markets. does it trickle down in a helpful or harmful way >> well, it certainly makes it very competitive first time buyers are already up against investors who love to live on the low end of the market so it makes it tougher to get in >> we are seeing borrowing money from family and friends closing the deal and then taking out a mortgage afterward but it is so surprising given how low mortgage rates are that we're still seeing such a high share of cash deals.

>> raise go all that cash from family and friends and then turning around to repay it it is like syndicate fascinating. thank you very much. coming up, an internet stock that has gained nearly 12% this week we'll have reveal friday's under the radar find next. as the pandemic shuts down stages, we'll speak with the ceo of the streaming service bringing everything from a music festival in india to offbroadway shows now into people's hos.me

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welcome back don't look now but the dow is almost positive. it is down only 12 points. the big helper of the day, disney a fractional decline means if we get further move, disney or a couple of others, we'll be positive before you know it. the nasdaq down .71% communications services, staples, and industrials are your leaders today a mixed bag utilities under water. energy financials and technology will the biggest laggards right now. let's get to our friday find

the big stock that went under the radar. we're looking at the stock moving higher for a strong session. it is up nearly 12%. the company boosted the buyback program. and ubs upgraded to a buy and hiked the price target to 190. we're around 161 they're talking about growth from the coil's revenue base by adding another 2% today. let's get to our cnbc news update >> hello good to see you. here's what's happening. we are watching the supreme court which may have a response as soon as today to the lawsuit from the state of texas that seeks to stop electors from georgia, michigan, pennsylvania and wisconsin for voting for joe biden as scheduled on monday the extremely unusual suit strongly supported by president trump accuses the states of not following their own rules, making it impossible to detect any fraud. but retiring republican senator

lamar alexander tells chuck todd, he's not buying it >> that doesn't sound like a very republican argument the me. my position, republicans believe that straits in charge of elections. and texas is a big state but i don't know exactly why it has a right to tell four other states how to run their elections so i'm having a hard time figuring out the basis for that law. >> and minutes ago, the senate voted 84-13 for final passage of a defense spending bill president trump has promised to veto the margin, if it holds in the face of an actual veto, would be more than enough to override it. you are up to date that's the news update this hour back to you. >> all right thank you very much. coming up, disney storms ahead. this ain't your mother's ipo boom and all in rapid fire coming up after the break.

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welcome back let's catch you up on a few stories that should be on your radar. it is rapid fire welcome, everybody first up, we've got to start with disney. investors loved everything they heard at investor day yesterday. from the more than 86 million subscribers to its ever growing content. it is now on pace for one of its best days ever when it comes to it, disney wins it is quote, mind blowing and frightening to any sub scale company. barclay's raising it to 185 staying company's growth path is likely to be unparalleled and goldman hiking to a straight high of $200 i'm going to start with you.

too much enthusiasm? >> i wouldn't say too much at least in the long term, probably not too much. this is a market where we buy our favorites. people have fans of the companies, of the company's products, and they become fans of the stock i think that this rate of acceleration was not anticipated. i think the price increase is a very important part of what they announced yesterday because the revenue per user was still badly lagging what netflix does and this puts them on a path of having firmer pricing. so it is very expensive. the company is valued largely as a netflix-like streaming business with the other stuff thrown many which of course is going to come back the company in the last few years has gone from being a victim of the trend in cord cutting to being one of the leaders in making that transformation >> yeah. it reminds me of when facebook went public. the shares crate ordered the $18. people said can they pivot to

mobile and that was how many hundreds of billions ago here's disney. people were, again, right to be keshld about facebook back then. they're right to be concerned about going back to that famous summer of 20 final about disney's future beyond espn. and look where they are now. they've certainly pulled off this pivot >> absolutely. looking at the scope and the scale of the content, plus, 100 new titles, original titles for disney plus every year the fact that they're forecasting to have between 300 and 350 million streaming subscribers between disney plus by 2024, those numbers are massive. look at netflix now has just about 200 million subscribers and it launched its streaming service in 2007. so a massive scale here. and i want to point out. they show they'll take a nimble approach to how they distribute content. some films will be a traditional

theatrical release they'll put them that theaters and nowhere else other films like the one they have coming out in march they'll put in theaters and also, sell to disney plus subscribers for an additional $30. i think analysts like that they're not foregoing the traditional mile entirely. >> yeah. they're up almost final% right now. stay right there we have a news alert out of washington we know that must mean something about, what is it? stimulus or government funding >> it's a little bit of both the senate has just passed that one-week government funding bill that will keep the lights on through december 18th. but two key senators are saying that their fight is not over vermont senator bernie sanders and the republican josh holly said they are committed to holding up the next funding bill, unless there is an agreement to vote on their new measure that would provide another round of stimulus checks at $1,200 for adults, $500 for kids they give a scathing speech

about the economic devastation that this pandemic has brought in their communities and they said that lawmakers should not leave washington until another relief bill is passed. so for now, the government will stay open for one more week. kelly, the fight over stimulus just got a lot more complicated. back over to you >> we don't have room for complicated. you don't have time for complicated. this is congress though. please keep us posted. she's in washington. let's turn back to our discussion before i move on from disney, i want to get a parting thought from you go back to what julia said about, 350 million subscribers does that seem realistic to you? >> when i first saw these numbers, i just thought, this is pie in the sky almost like an eli musk prediction then i thought, wait this is disney they don't make these predictions lightly. this was disney bringing a nuclear warhead to the streaming wars the amount of money it will take to keep up with these guys

and you wonder what happens to the amcs, the viacoms, hulu is doing okay for now hb omp max all these other streaming companies, aspirational streaming companies. you wonder how many survivors will be left standing? how many will each household subscribe to now that prices are going up it's probably more than two per household but probably not more than five. so you wonder, howl of these streaming companies will survive and how much money it will take to program >> yeah. >> my guess, look, any other industry, it will be four. we're learning it will be netflix, disney plus and everyone else is jockeying to be in third and fourth position i agree with you those numbers are enormous but maybe they're still achievable certainly investors do like it speaking of monster, it's been a monster week for ipos some of the are wondering if this

process is broken or flawed or what to make of this week. door dash, c 3 ai, air bnb with the latter two doubling by the time they went public. they have some folks even bringing up the bubble word. without a warning about it is starting to feel like 1999 all over again and warning it may end the same way here's my two cents. i want to know what you think about this the strange thing about the ipos this week is that we had these big bombs but it was all before the stock actually went public so even in the late 90s, you would see once they went public, then they would skyrocket. and everyone was trading and driving them even last summer, it went public, more or less doubled the price but still rallied another 40, 50, 60% from there air bnb and dash this week, those things hit the public market and they were basically parked dash is now $10 below where it

came out public. >> you have this huge assault of orders now the effort to try to match as much of it as possible. the nasdaq does more of it than they used to so that's mechanical show if the criticism is that they got it wrong, it is a tough argument to make because it is not a science. there is no perfect information about how much price the, disorderly, frankly uninformed order flow is going to come in the number of people on twitter as i have talking about this who thought when they put an order in yesterday they would get air bnb at 68 which is the issue price >> that's my point >> it doesn't help

the opening price was 146. it closed beneath it that's what it is supposed to do, really you're supposed to say, let's try to find the clearing price with everybody involved. kit run in many different directions but that is not a sign of it being broken it is just different >> what are your thoughts in. >> yeah. i love the question, whether this is 1999 watching them do contortions first they said, well, this is different. these companies are profitable well, i don't know are they ever going to be profitable they're certainly not now. then we heard, well, these companies, and then we heard, all these companies are disrupting industries. we're not seeing the same level of speculation and i think it is evident. what is different this time back

in 1999, the ten-year, was about 5.5% now we're under 1% so bits the supply of money looking for growth that's why i do think this time is different it could go on longer. i think the speculative nature of this feels very similar >> yes but $50 and $100 billion monster caps >> it's a lot easier to chuck to it zero or watch it grow like amazon it just feels like we'll be parked here for a while. let's talk about some of the big changes coming to google this is a fascinating glimpse of what the future of advertise go could look like. they are adding new user controls regarding in particular, alcohol and gambling so people can choose to turn them off over google wrote to help people

avoid sense i have the subjects like these they said they will roll it out on youtube first and then to the larger ad world early next 84. i love this. give me a check list can i turn off insurance ads too? at what point will the advertisers themselves push back and say, hey, wait a minute. you're giving too many people to power to tune us out >> well, look. i think this particular instance of alcohol and gambling, this seems like no brainer and a win-win for google and advertisers. there are so many reasons, religious reasons or for health reasons. let's say someone a gambling addict or an alcoholic if they want to opt out, they should be able to. they don't want to waste money on ads that people absolutely don't want to see and might actually make they will uncomfortable. so if this can really work out and be a win-win, we could see this expand to other categories.

think about the kinds of brands that families may want to avoid. let's say you're a vegetarian and you want to stop getting ads for hamburgers if they can make sure that what you see is the type of ad you want to see, then that advertising is going to be more valuable, more expensive, and google will make more money from targeted and expensive and google will make more money from it >> there's a lot i'd like to turn off there's a reason why we see liquor shops in communities where people are dependent on alcohol. at what point are the advisers going to push back and think that they're losing sway >> what's great about this is it doesn't seem like it's going to cost much on the marketer ace si side it's going to be a decrease. if i ticked off every box i don't want to see, what would be left aside from athletic wear, i

would get no advertising. >> you'd get the $5,000 velvet chaise robe. i know you have it >> a streaming service that uned dinthlachurg e pandemic is bringing live events into living rooms. we talk to the founder next. ♪ ♪ ♪ ♪ and now with q4 wrapping up,

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welcome back the live event industry has been one of the hardest hit, it's estimate 90% could close permanently without targeted relief now they are helping people get back to work by livestreaming concerts across the country. you had this eye deep prepandemic.

-- idea prepandemic. >> we've been able to help people get back to work. fans experience live, intimate shows and connections they weren't able to do during the pandemic in other ways >> how much does it cost and do i need any special equipment am i streaming this or am i watching it on tv? is there any opportunity for kind of two-way engagement >> absolutely. can you do it with any device. we've designed our platform so that you can actually access it as a creator from any type of equipment all the way ranging from a simple iphone with our iphone app all the way up to professional studio or ven you've equipmevenue equipment. cuff have a dual experience with a tv and laptop if you'd like do it the really cool thing, what digital allows you to do is

bring circles of intimacy into the experience based on the way the event producer wants to create it. you can do things you can't do in real life for example, can you do one-on-one meet and greets virtually right on to the show the artist can jump into your living room and do a selfie and a sing along and serenade just you. that brings a lot of smiles and joy to people around the world >> that would be my question, though, what happens post-pandemic when everyone is desperate to go life and doesn't want to watch anything in their living room? i guess you answered that already. >> the great thing is people are learning how to leverage the power of this new medium the last nine months while it's been challenging for many people, it's also forced people to think about ways they can innovate and create experiences that are different

we're actually very excited as an industry about what the future holds when we come back into a world where you can do things in real life, if you will, and a lot of people are talking about doing hybrid event where can you do some people are in the venue live, in the arena live but a whole host of tens of thousands if not hundreds of thousands of people can have a different yet compelling experience if they're in tulsa -- >> someone like me might be more interested in watching from my living room than having to go anywhere for the next couple of years. thanks for joining us. we're out of time. sorry to cut you off there >> that does it for "the exchange." up next on "power lunch," pfizer's vaccine is poised to lleeouproval from the fda. i' s y in a moment 12 pro with 5g!e new iphone and it's on at&t, the fastest nationwide 5g network.

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welcome, everybody good afternoon this is "power lunch." along with kelly evans