good morning it is 8:00 a.m. at snowflake headquarters in san mateo, california it's 11:00 a.m. on wall street and "squawk alley" is live kin k . ♪

>> happy tuesday will being to "squawk alley. i'm jon fortt, carl quintanilla and julia boorstin the focus is the agenda for tech growth in 2021 markets saw a huge gain in 2020 despite the pandemic and tech names led that surge. question is, do the growth names have enough performance in the tank to justify these valuations over the next 12 months? julia, we're going to talk to snowflake's ceo frank slootman in a little bit. snowflake certainly in the cloud arena. one of those big valuation, big growth names but across media and content, there are a lot of those plays too. >> and across the tech space, jon. just take a look at uber that stock is up more than 2% today. that stock is up about 70% over the past 12 months of course, so many headwinds to

the, you know, the car part of that business, driving around people about it when it comes to driving around food, there is a lot more bullishness we're talking about uber more with one of our guests later this hour. the question is whether or not the stock have seen meaningful gains but face headwinds and will be able to maintain these valuations that point. >> all right i know you're watching roku as well, julia. street high out of wells oil, of course, wt i-bai, back o $50. speaking of this, look at the 2021 outlooks. let's bring in the picasso co-chairman and former zillow group ceo and jeff richards from gbb capital. happy tuesday. thanks for being with us >> good morning. >> spencer, maybe just start at 30,000 feet. talk about how you're viewing

the year ahead in general. a lot of the calls that we're getting on individual names say, yes, they're expensive relative to the past year but given what could happen this year, maybe not. >> yeah. so what julia mentioned about uber, i'm seeing throughout the tech industry. in my spac, i talk with two or three unicorns a day companies that are private getting ready to go public through a sponsored ipo. when covid-19 happened, they cut expenses they cut marketing expense they reduced office expense by reducing their corporate footprint. and then when revenue started to bounce back, they were unexpectedly much more profitable than they ever thought they could be. and now the markets are looking past the 2020 and towards a good 2021 and a really good 2022 in terms of profit and margin expansion for the companies. and that plus low interest rates which is driving investors further down on the risk curve, that's what's driving the equity markets into public markets like

uber, for example, or in the private markets in the case of the unicorns so i think there is enough gas left in the tank to answer your question because this margin expansion that we're seeing with revenue uptick because of lower cost spaces through the expense cuts during covid-19 >> jeff, would you go along with that is that going to be the storty stot your the story of the year when we talk about operating leverage and the pandemic as this weird sort of extreme example of creative destruction >> well, spencer stole a story line from me i'm on the board of twoab profitable companies the growth in revenue combined with the lack of growth in expense was pretty remarkable. i guess a couple things i'd add is, you know, we saw the tail winds in commerce and telemedicine the tail wind we didn't see was software software buyers in q-2 and q-3 were on hold fortune 500 procurement

departments, cfos put a hold on budgets due to the uncertainty and we saw a big rebound in software buying in q-4 i think that will continue into this year. so we're very bullish on our software companies we think 2021 will be a great year for the companies you're talking to folks like frank slootman right in the middle of the trend and shift to the cloud. fortune 500 kbhpz are sticompan only 25% in the cloud. that is a great bet for investors over the next five to ten years if you have a long term time horizon. that tail wind is massive. hundreds of billions if not trillions of dollars in the u.s. and globally >> jeff, give us a sense of what you expect to happen with the underdog names in 2021 i'm thinking about some of the names you own like big commerce or that you think will do well big commerce, kind of a second stringer to shopify in a way still, a strong player wish, of course, in e- commerce

y you can'ti be bigger than amazon what is the difference in these base on what investors have. >> that's a great question, jon. we look at square competing against the big guys and square today obviously if you invest in square three, four years ago, you're up, i don't know, 10, 15 x on your money. it's now a $90 billion company you look at twilio competing against amazon venture capital and silicon valley in general is about the little guy competing against the big guy. look at e-commerce, the story is one about amazon obviously walmart is doing well in that category and now kroger and the grocers are doing well but there is plenty of room for etsy and shopify and new names like wish. there is so much room in e-commerce if you look at what happened in e-commerce in the u.s., we were 20% penetrated in digital.

it rose the fastest growth in hist rich. history. it's not just those names. but the market is so big and amazon, obviously, has i think the earth's widest selection. but they, you know, we look at what happened with instacart and doordash with being able to get thinged delivered on demand and what value they created and airbnb in travel and who thought they could compete against booking and other public companies? there is so much room for opportunity and now they're well capitalized. they have strong balance sheets and the money to grow the next three to five years. >> a lot of enthusiasm about the e-commerce space after the stay at home period spencer, you're bullish on e-commerce as well i want to ask you about one of the other public companies that's one of your top holdingsen that is faceboholdins and that's facebook. are you concerned about kbe tigs th competition and we're talking a

lot about the rise of tiktok >> facebook has a lead in social networking and communications. you know this last quarter they added n added nine million new advertisers. that is part of the boycott, remember that whenever -- [ no audio ] they added nine million new advertisers. the only potential risk to facebook is tiktok or snapchat taking some of the audience. so far, that just not showing up in the data. so far, facebook audience is inpenetratable to answer your question, i'm not worried about antitrust with respect to facebook. i think -- i tweeted a lot about this i think the antitrust complaints about facebook's acquisition of whatsapp and instagram are nonsense i think it is dangerous and unprecedented to relitigate, to relook at acquisitions that were approved years ago so i don't think that will happen the only thing facebook does have to worry about as does google in this antitrust

environment that they're under is the impact that it could have on the corporate culture and we saw this with microsoft microsoft had basically a lost decade of lost innovation during their antitrust review in the 90s which caused them to miss the internet and miss mobile phones they basically missed the two huge trends in tech because they were so timid as a result of the antitrust cloud that hung over the company. it come them 15, 20 years to recover. that's what facebook really needs to worry about >> certainly the risk of the distraction of battling those regulatory overhang. spencer, i know one of your other major holdings is zillo. you were ceo zillow and now invested elsewhere in the real estate space as well. what is your outlook on real estate as we see the impact of that having a fallout when it comes to the retail real estate

market >> it's a terrible time to be a commercial landlord. especially an office landlord. you know, covid-19 has driven permanent changes. we're not going back to the malls the same way we were we're not going back to the grocery store the way we were and we're not going back to our offices the same way we were every company i'm involved with as an investor, adviser, founder, et cetera, is moving to some version of fiber and work from home. where employees are flexible without coming to the office some days and mostly working from home and there will be a smaller hotel like corporate headquarters for the occasional drop in and for team building. and that has huge implications as jeff was saying, one of the big implication there's is software is eat office space what i do mean by that i mean that companies are taking some of the cost savings from reduced office footprint and plowing them into software to improve employee engagement. companies like slack, salesforce, sap, zoom, and a lot

of startups that i'm investing in as well these are software companies that are hr tech companies that are going to improve employee engagement and retention because they're not -- they're not going to be getting together in person the same way they were before. the other big trend in residential, julia, is going to be more of a hybrid lifestyle. and this is one of my companies allows you to buy a portion of the second home because we're seeing this exodus from city centers where people are moving and acquiring second homes now more than ever and picasso aims to capitalize on that trend where people are having a more flexible lifestyle, living where they want to live, not where they had to work >> i was looking, jeff, at some data yesterday believe it or not, from u-haul they rank states by inbound and out bound migration. the state with the highest outbound migration is california and the state with the highest inbound is tennessee i just wonder, you know, how are

we going to be talking about tech we'll be referencing a silicon valley in three to five years at all? >> well, this trend started a while ago with the globalization of our teams, right? silicon valley, every company i'm on the board of has distributed teams all over the world whether they're in ukraine, india, argentina. mostly that is on the engineering and development side you've seen everyone in every department given the freedom to move around the country. so you're citing tennessee and nashville is a very popular city but look, the distribution of tech and entrepreneurship in america to me is if that happens over the next three to five years, what would be one of the healthiest things that can happen for our economy it is nothing better than if we saw technology and entrepreneurship sprout up all over the country we know that has been the job creation engine of our country we would love to see that. we have no problem getting on a plane and funding people in all parts of the country so that's a great trend. i hope it is one thing that

comes out of this. the other trend i hope comes out of this is we see more dollars flow into small business the 60% of americans work for a small business 40% of the u.s. gdp. you have seen companies like shopify and square and others powering small businesses. we would love to see more of that happen, more dollars flow into small business and small business tech. it's a great trend its good for the economy >> we can't wait to talk about the evolution of those trends with both of you guys throughout the course of the year jeff, spencer, always good to see you. thanks, guys >> thank you, carl >> thank you remarkable transformation the tech space ansltmng of, which snowflake ceo frk ooan joins us right after this break that stock up over 3% today. stay with us than we do. workday. how do they make better decisions faster? workday. got to do something. workday! i think i got something. work... hey, rob, you're on mute.

hello. [all] hey... there he is. workday, the finance, hr, and planning system for a changing world. ♪ch-ch-changes

welcome back to "squawk alley. our next guest had one of the biggest ipos of 2020 and shares were up more than 130% by the end of the year as cloud computing continues to have traction during the pandemic so how much room is there to run for growth stocks like snowflake? frank slootman, ceo and chairman of snowflake joins us. happy new year, frank. >> happy new year to you as well, jon. >> well, you guys revenue wise are on track to continue doubling year over year which is

pretty impressive given the size you are. but my question is more about the demand you're seeing for the enterprise from the enterprise which impressed the street in the past quarter and just where you see opportunity in 2021. how much growth opportunity is there? >> you know, so the important thing to understand is that there is a couple of sort of long term secular trends that are coinciding and driving the development of the market overall. you know, one is that everybody knows is the movement towards cloud. so it's really a modernization play you know, we're moving from on premise data centers and we're close to the cloud we take advantage of better economics, utility models, and we no longer have to manage capacity the other aspect that is really important for our business is that we have had an extraordinary amount of pent up demands in the sense that the on premise data centers could only

accommodate a very, very tiny fraction of what the real demand for data analytics really is and once you get to the cloud, all of a sudden the lid is off and people can just pursue their backlog. and whatever they can imagine. technology is ahead of what people are capable and imagining what they could actually do with it so that's really a big part of what you see in snowflake's growth profile completely variable paradigm >> yeah. talk to me also about the m & a environment and consolidation in enterprise and the cloud space heading into 2021. you have a close relationship with salesforce. we saw them announce this huge deal they intend to do with slack. just weeks ago do you think that either when you're looking at acquisitions that you might make, i know you made a number of small ones,

that 2021 is going to be a good year to do those do players feel like they have to do more acquisitions whether it is snowflake or not >> i'm usually a big m & a as a function of people of running out of market and running out of opportunity and trying to invade adjacent territories to give themselves new runway. that is obviously not the case for snowflake. we're in a tremendous marketplace. and we are, as you pointed out, we're buying talent and technology that we can use to -- that we can build very specific technologies around that are very much built the snowflake way. we can really enable our platform mission and our footer. so that has been our motive. we don't have a history of doing big acquisitions >> and let's talk also about operation. it doesn't look like you're in

san mateo right now. i used to live in the bay area not a lot of snow there. so tell me what you expect to happen with locations and with the operation of the workforce you? managed to keep up this growth in a year where we had a pandemic the selling motion must have been different versus meeting customers face-to-face as we hopefully get closer to what is more like normal as populations get vaccinated, are you going to really shift what has been working you are going to go back to previous motion that's you have. >> this is very interesting topic. we don't have a yearning to go back to where we were. i can see why people who have that because the lockdowns and things of that sort. but from a business stand point, there is a lot of positives to the shock of the system that we received it's almost like a wakeup call it is just opening our eyes to the opportunity. this whole notion that the

office is your workday home is realized in other words, you know, offices need to be there for specific purposes, events, training, you know, for meetings specifically but not a place to hang out 9:00 to 5:00. that is definitely changing. it's going to reduce the real estate footprint that companies have the other trend and you've seen it with companies leaving california to the likes of oracle and hp and tesla and so on, the whole notion of a headquarters is pretty much evaporating in profront of our eyes we're no longer operating with a center of the universe we're expecticonnected for the r part of a year without headquarters it's just fine people are saying what is a headquarters anyway? and you see pinterest writing up massive leases in san francisco and saying we're going to be

headquarterless. and that's very profound. >> frank, as you work with all of these clients of yours who are moving more of their everything into the cloud especially as their employees work more remotely, i'm wondering what the impact of the solar winds hack is in terms of how those customers want to think about the security and safety and what kinds of services they need from you. >> yeah. you know, we have been having this conversation several companies now and the reality is that the security models, you know, we believe in the cloud, are far more vetted and mature and scrutinized and all these kind of things than when people operate on their own premises. it's really incumbent that they really learn and master the model. and they're going to be better off. it's really difficult as an individual company to really

maintain the competency and expertise and posture to secure the perimeter of the infrastructure we think that will help move to the cloud. >> frank, how much stability do you expect there to be among the mega scale players who you partner with certainly, you compete with to some extent? but i mean, we have a lot of players chasing amazon for market share and they do have considerable growth. do you think there is room for amazon, for -- sorry, for microsoft, for google, for oracle, et cetera, to really chase down the scale of an amazon or is the opportunity more with the technology companies, the software companies that are operating across platforms and don't really care whose infrastructure

cloud it is. >> just looking at the numbers, the market is consolidating, not proliferating. the big three are getting bigger in terms of their total share of the market and you can just see that from the numbers. it's even difficult for the number three to actually gain meaningful progress, so the growth rates are not higher than the number one or number two so that's, you know, i think we're sort of getting into a situation where that dynamic is going to be difficult to upset the more established the environments get, the whole ecosystems build around it once people are in there, they're not going to say let's go somewhere else. those are going to become multidecade positions and plays. obviously, what people like we're trying to do is really try to, you know, allow people to not have to deal with the boundaries that exist between these public cloud platforms and

to be able to verse them effo effortlessly for example in the area of disaster recovery. we have several that are za disaster recovery models are on a different cloud. we enable exactly, you know, that kind of use of a multicloud platform >> interesting and then just finally, something on a policy, internal policy point of view that we have been asking i know you talked about how headquarters isn't as important as it used to be about it to the degree that people are going to have to come in for meetings or for training, have you decided whether you are going to require people to be vaccinated in order to come into company spaces later this year >> no. we have not made a decision on that the other thung i wouing i not to be categorical because

between different locations and different functions, there is a very different need for, you know, for office capabilities and how much and how often people have to get together to engineering groups have a much bigger need for it than field operations we're already scattered all over the globe. there is a big difference. the other thing that we're all noticing just from our daily life experiences is that there is a huge amount of testing going on in specific venues. in other words, you want to go to a ski facility or a golf course, they test you on the way in as long as you're on the grounds, you're safe sort of that bubble mentality towards safety that is probably much more manageable than, you know, than some of the other things now, you know, i'm a supporter of, you know, vaccinating. for us to mandate that is another matter so we haven't visited that topic yet in any detail. >> interesting nuance to consider frank slootman, ceo of

snowflake. happy yea happy new year >> thanks. >> this morning wall street pretty bullish on uber up almost 2% one ofhe t firms today calling it their top pick for the year we'll talk about that after a break. stay with us

i'm sue herrera. here is your cnbc update at this hour the polls are open in georgia to choose that state's two u.s. senators and determine which party will control the u.s. senate lines are short at many voting sites thanks in part to record levels of early and absentee voting in washington, d.c., the national guard using trucks to block streets leading to capitol hill it is part of security preparations ahead of pro trump protests scheduled for today and for tomorrow gulf arab leaders signing and agreement following saudi arabia's ending its 3 1/2 year

embargo of qatar it is a first step to repairing ties between allies. and tonya roberts reportedly died last night. less than a day after her long time partner prematurely announced her death. he had visited her in the hospital on sunday and believed that she had passed away roberts who starred in the james bond movie "a view to llki" collapsed at her home on christmas eve. you are up to date i'll see you again in an hour. "squawk alley" will continue after a quick break. if there'g that this year has taught us,

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uber, a top pick for 2021 according to deutsche bank and initiating coverage on doordash with a buy rating. lloyd, i understand that both of these companies have exposure to the food delivery market but i want to start off with uber and the question of whether ride sharing will really rebound to the extent that you believe it will next year when there is so much uncertainties whether it is the rollout of the vaccine or more waves of covid-19 keeping people home? >> yeah. we think the recovery really starts in the third and fourth quarter. we forecast by the fourth quarter they'll be over the levels they were at in 2019. and it's certainly predicated on getting the vaccine rolled out and hopefully the vaccine has a strong effect on all the new variables. our view is we'll see the recovery in the second half.

>> recovery in the second half in terms of people being eager to get in an uber and go to the airport or bar or wherever people uber to but then a question about the food delivery market and your initiation with the buy on doordash if people are going to be getting back out into the world, aren't you concerned that the food delivery market will then contract >> we are concerned about that we forecast uber eats gross bookings to contract slightly in the second half. we forecast doordash to be about flat and it's absolutely one of the biggest questions on investors minds. one thing that gives us comfort though is really two things. one is doordash has the subscription product where for $10, you get lower delivery fees what the company has seen is a huge uptick in consumption and frequency. they have seen great growth in that program so that should help offset the tough comps. and then in addition to that, one of the best attributes of

this business that food delivery business is that subscribers join and use it. they use it more and more frequently as they age on the platforms. so you kind of got two underlying improving tail winds for the businesses despite the tough comp but it's absolutely going to be a tough second half of next year from a top line growth perspective. >> and the food delivery space is a crowded one there are questions about pressures on margins and also whether a lot of the restaurants can sustain some of the fees i'm wondering where you see the potential -- especially for doordash -- to expand yobeyond just delivering primarily food >> it's a really interesting part of the business one of the reasons we're most excited about doordash stock is this doordash drive last mile delivery business. it's very innovative they have not disclosed much about it it is about 7% of the orders in 2019 we estimate it was closer to 16% in the second half of 2020

so it's really growing like a weed and they're basically helping merchants compete with big tech companies like amazon. they're helping walmart do their grocery delivery they're helping pet stores, brick-and-mortar pet stores deliver dog food and, you know, they're doing it at great efficiency, great cost savings relative to other options. so we think it's going to be a much bigger business and it's not something we think investors really appreciate. >> some of your colleagues on the street are also naming uber as a top pick for the year and in general, the thesis is that there is option alt if the world gets better, rides take off, the world gets worse, eats shows further strength is that -- is there a symmetry there or would the stock and investors rather see separate from obviously the social good of covid-19 going away, what is more constructive for the stock

its snefl. >> itself? >> a ride share recovery is what we want to see for the stock again, even though food delivery will have tough comps and could benefit from, you know, longer lockdowns, we think the business is stickier than people think. people get used to ordering food and they see the breadth of restaurants on the platforms we think that will be fairly sticky even though the growth won't grow as fast as it has over last year so ride share comes back not only do you benefit from a net better gross bookings and financial profile, but you also benefit from the fact that people on uber can use their rewards points on the food delivery side. you get the frequency back in the ride share business. it also actually has a benefit on the food delivery business. so that's definitely the case that is the best for the stock and then, you know, i think -- i don't really disagree with that thesis you shared that is broadly thought of on the street i think the other thing that people are missing is just how

profitable the food delivery business can become. doordash taught us that. they will get more comfortable with the profitability and state of uber across the food delivery business and the whole company as a whole >> well, lloyd, that's what i wanted to ask you about is how differentiated is doordash you talk about drawing this line from doordash's profitability. they managed to gain so much market share on uber in this space despite uber being better resourced for years. so we also hear from doordash partners like panera we had on recently, little seicaesars. the partnerships seems to be different from uber.

how much should investors different shat betwe differentiate between the capabilities of the two? >> it's a great question what we've seen with doosh dards they didn't take much from uber eats they're strong in tier three and tier four markets in addition to being strong in tier one and two. a lot of the shares come from grubhub. they didn't really want to get into the delivery business they wanted to just do demand generation and let the restaurants do the delivery. but clearly by doing delivery, you open the market up to much more restaurants that don't have delivery that's what consumers want >> so uber has taken that strategy too they both actually take share from grub hub and, you know, i think those are going to be the two biggest players in the u.s and then on top of that, let's not forget uber has a huge international food delivery business we don't know exactly the size of it. they haven't disclosed the exact breakout on a gross bookings

basis. we estimate it's about 50% outside the u.s. and what they've said is they're the number one player in their top ten international markets which compromise half the gross bookings internationally less we forget, uber has a leeing position in most of the international markets. so we think that they can both have great food delivery businesses that are very profitable and again we don't think that's well understood by investors. >> lloyd, it will be interesting to see what consumers feel comfortable doing in this coming year grubhub shares up 4% today and uber and doordash up 2.5%. thank you for joining us. >> thanks for having me. watch micron as well today big double upgrade over at citi as they go from $30 to $100. you can see the shares up almost 5.5% talk about that as well. we're back in a minute

that's fine. we found essential to the digital economy is going go into a number of other industries if you look at what we have done at the -- just the last earnings call, we start to talk about the company not just about the licensing business and the other business, we talk about how they have an automotive business, i think the company will continue

to diversify and really build on this opportunity in front of us as 5-g takes the company into a number of different industries >> that is qualcomm's ceo come the my will iddle of the year. the former ceo retires after seven years as ceo and during the interview, guided the company through some major battles and chapters in its history. >> yes, indeed i mean qualcomm stock is up 2% today. reflecting investors' comfort with the new ceo he's been very much a prominent voice for the company specifically on the engineering and technical side over the years. but, yeah, i mean, i think we're going to remember steve as a wartime ceo for qualcomm, also ushering in 5-g successfully christiano has different challenges as he comes in. it's a little more peacetime for him with so many of these agreements both in china and

same with apple already in place. the challenge is to continue to grow 5-g and outrun apple's efforts to make the own 5-g mode modems qualcomm has to be better. remain high end, integrate more functions whether we're talking about phones, we're talk auto and maintain thand kot intellecl property that allowed them to come back from so many setbacks, carl >> yeah. julia, they also get the company ready as steve -- as jon said for what comes next. the big chapter of 5-g which the market and none of us fully understand yet >> yeah. certainly so many transitions here, carl in, terms of dealing with covid-19 and this coming wave of 5-g for the mobile industry as well as internet of things as we head into break, roku

shares are moving higher and wells fargo raises the price target to a street high of $414. analysts are bullish on the user growth and oorni to pptutytap into the new ad supported streaming services that stock up nearly 4% today. we'll be right back. #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin

number of state governors expressing frustration with the pace of the covid-19 vaccine rollout. color actively working on ways

to get shots in arms faster and color ceo joins us this morning to talk about that thank you so much for your time. good to see you. >> good morning, thanks for having me. >> there are some what do you were think the solution that the country has not thought of yet >> it really boils down to the fact that the u.s. really lacks a public health infrastructure, effectively a mechanism to deliver that last mile of care last year we spent a huge amount of effort and innovation to put testing capacity on to the system and it took a long time to reach that and be accessible at scale the same thing is happening with

vaccines and it boils down to that last mile and how people can access vaccinations at the right time for people in the context of where they live that's one of the challenges that the u.s. health care system has had for a long time and now is the opportunity for us to address that on scale. >> and what level are we talking? are we talking state city local? are we getting as granular as hospitals, which obviously have some more pressing matters on their hands, at least depending on the community than administering vaccines >> yeah. it's a great question. so i think the way our system currently works is that our hospital system is actually incredibly good at dealing with acute care what we have lacked is the public health dimension and the infrastructure to do very basic things like when you think about it, like administering a covid test

or covid vaccine is not a veryp. what is difficult is doing it at massive scale that really draws in the population. it's only thing we can do by taking these services deep into the communities and integrating them into people's lives state governments have a very important role and we've seen many of the major states really making very big moves, whether it's california, massachusetts, et cetera, to take a big role there but it's about states taking big action to build the systems that enable the communities because at the end of the day, you need to be able to have the access points, whether it's like schools, churches, communities centers, et cetera, those are the places where people can access whether it's testing, vaccinations or other health care services for following public health needs that we've had and that we're going to continue having

so i think right now it's like the states kind of taking those actions followed by enabling the communities locally to be able to take a very active role in the health care of the population >> i think it's worth noting that a genomics company that made a quick pivot to testing during thoo th time of testing, i wonder what you've learned in color building up this, what have you learned from that in terms of what's working, what's not working and how would you recommend that's applied to the distribution of vaccines you mentioned churches should there be a uniform place where these vaccines are distributed? >> i think from over the last year one of the big lessons is that there's no inc. single sil

bullet the service area is massive and we're in uncharted waters were having to do things with such speed and scale as we have now to your question what prior lessons have been learned, for us i think the biggest lesson that actually we've learned over time is that we keep thinking that health care, public health challenges are a science and technology problem, whereas in reality oftentimes it's the logistics and kind of the ergonomics of health care that are the biggest hurdle it's not as much about evenfund. we speak about the challenge of funding public health, which is a real health but a lot of times gaps in access are because people in underfunded community, farm workers, if they have to travel miles to get access to a basic service, they're not going to be able to do it. for us the lessons in doing

these very big public health programs before and now translating to them around the covid crisis, the key is to use software and technology to get to people in their lives and because at the end of the day you're not doing -- if you needed to do big surgery on people, you'd have to bring them into a hospital. on the flip side, if it's for basic services, a test or preventive care, we can use software and technology to take that into people's homes, into their workplaces, the schools and i think that is the big opportunity of modern public health so i think what's happening right now is the covid crisis is forcing us to build this infrastructure, in many ways similar to how we build the highway system, you know, in war time to transport troops and across the country but then that served us for decades later. i think it's exactly the same thing that is happening right now but through technology for health care needs. >> you would think with the tech

tail wind the country has, we could leverage that in some way. look forward to talking again. thank you. >> and look at airbnb today, up about 1.5% the street tuns to continues to mixed. read about why only on cnbc.com. we're back in two. bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with nearly 60 years of experience in the

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as we close out the hour, we're watching netflix, noting with netflix losing the office with so many new rivals in the space, more people are considering dropping the service in the next quarter. carl >> i'll take it, julia you talked about some bad news how about some good. we talked about the stock exchange not delisting three chinese teleco and others pi

pinduoduo and jd hitting all-time highs >> that's a good one, too. and roku, their growth has been built on subscribers services as that market markets into the advertising platform, even after an incredible 2020 let's get to the judge >> thanks so much. welcome to the "halftime report." i'm scott wapner the beth plast places to make m. we debate and discuss. joining me are stephanie link, josh brown, john najarian. let's go to the wall and see where stocks are trading, bouncing back from the worst hoping day in a number