in and join the party ♪ ♪ life has been waiting for you to care ♪ happy friday, welcome to "squawk alley. two plainspoken founders join us at the end of a dramatic barry diller and tom siebold will talk what's the impact of washington turmoil on brand america, what's business' role in securing what we hope will be a new normal post pandemic and speaking of that, major indices slightly higher after a disappointing jobs report but not everyone is flat tesla is up another, my goodness, 5% but now it's higher than that. the market cap on tesla, deidre, now above -- you see it up 7.5%. the market cap is now above $800 billion valued higher than facebook i just want to remind everybody, elon musk tweeted that the price

was too high back on may 1 when the it it was trading at a split adjusted 140 a share, one-sixth of where it trades this morning, deidre >> yes, some of those themes we saw from last year continuing on early in 2021. we do see tech outperforming tesla in just a field of its own as you said, jon a few other names, big tech names going in between gains and losses, there is an mkm note, carl, best 21 -- 2021 idea, the first one is facebook followed by google and, you know, it comes after we spent so much time yesterday talking about the pressure that's being heaped on these companies in the wake of the turmoil in d.c on wednesday you have to wonder if wall street is either, you know, taking regulations seriously or whether it thinks congress and these agencies may not get anything done, any action done which has proven to be difficult >> that's certainly the take among some judging from behavior of the options markets in the

past couple of weeks it's a narrow majority in the senate and there's going to have to be a lot of horse trading to get broad legislation passed, at least. to julia boorstin with a special guest. hey, julia >> good morning to you, carl that's right, i'm joined by barry diller, chairman and senior executive at both iac and expedia. barry, thanks so much for talking to us. >> happy to be here. >> barry, the riots shook the nation i know you have been critical of president trump in the past. what's your reaction to these events >> well, i guess at the moment my first reaction is that i wish that they would actually what i think is silliness is to either impeach or have, whatever, the 25th amendment, it's 12 days to go hold your breath let him go

stop wasting your time on i think a kind of crazy move as far as trump, you know, he said years ago that, you know, he could go on to fifth avenue and shoot somebody and there would be no adverse reaction what he didn't say is what would happen is if he shot himself he's done that just now in a dust heap of history and i think just let him go let it be over >> let it be over, but what's been interesting, barry is we've seen, you know, facebook banned president trump through the election -- at the soonest then we have twitter did a temporary ban. how much do you think that the social media platforms are responsible for fomenting discord in this country and responsible to stop him from speaking right now where do you fall on that?

>> look, they're big megaphones. that's what they are they're big communications media and he's used it magnificently, a poor word to ascribe to what he's done but he's used it as an ultimate pro and i don't think it makes sense to ban him. i think you get into all sorts of issues about banning speech and things like that i mean if he says something that's actually untrue, point it out, do all of that stuff, but i'm not much up for the banning thing. but he has used these megaphones extraordinarily effectively. i think that's ended i think, you know, in the old terms of so to speak jumping the shark he overjumped the shark and everything can be pointed, i think, to that moment of what

happened with his inciting the riot, which after years of everybody else complaining about his actions and doing all sorts of stuff, it was actually his own action that just completely changed the atmosphere he's no longer -- i think he's no longer relevant i think he's actually disqualified himself so who cares that he has -- >> and you -- >> do i -- >> you disagree with facebook's decision to ban him? >> well, i think in the moment of this crisis on the other day, i think, you know, in that exact moment for sure probably ban everything i mean, it's like, you know, stopping all flights when you get 9/11 but i think after that, to ban him indefinitely is not right. >> barry, we see such a disconnect between -- >> he's going to -- he's going

to cease -- he has glared his irrelevancy notwithstanding the people who voted for him and the base that supports him, he's shot himself out of orbit enough, over >> barry, we've seen such a disconnect between what's happening in the markets and what happened in the streets of washington, d.c. and at the capitol on wednesday how do you explain that disconnect to your ceos and how does what's happening in the country right now impact the way you're running your businesses >> well, what's happening, i think what happened is and i am no expert on what happens in markets particularly markets that are reached the level of exuberance that is beyond exuberant, but we're in a transition now we have a new administration i think people are hopeful about that transition. i think people are hopeful about

vaccines, maybe they are delayed, but they will eventually be here and people vaccinated and at some point, i've been wrong in my predictions, whatever, on covid, but at some point in calendar year '21, i think this will be over and we'll begin to return to normalcy and get there by the end of the year, so i think there's optimism generally about that and there's optimism that we've turned a corner from a very tumultuous four years into something that's going to resemble a republic we can all respect. >> that's fascinating, barry, you know, let's talk about the role that business has to play here it sounds like you think american behavior is basically self-correcting, that trump will be excised from the narrative. it doesn't sound like you think business or corporate leaders

need to get more stride dent in their statements whether it's to employees, their customers or stakeholders. >> when you say strident what do you mean >> this week the national association of manufacturers said pence should explore the 25th amendment it's one of the biggest trade groups in the world. >> i think it's ridiculous honestly it's 12 days, look if it were two months or three months or a year, go, go in good health but 12 days to go, just move on. it's over. anyway, it has nothing to do, god knows, with my comments or my feelings about how happy i am that finally he shot himself and i do not mean that literally obviously, but that he metaphorically shot himself. so, you know, that's great but as for the dangers of the

next 11, 12 days, i find it unlikely that anybody would execute any order he gives that's anti-social so i think we're safe and i think we should forget about -- >> barry, you say -- you say -- good morning, it's jon fortt it's 11, 12 day, i think we're safe i try to be a student of history, not just in the united states but in the world and i can't help but notice that donald trump got more votes this past november than he did four years before and all of his rhetoric up to this point including yesterday is that this is not over, this has just begun. we've seen the lengths that some who listen to him are prepared to go to, but you're very experienced and that's an understatement in this media space. what convinces you that he is on the decline and not just

entering a different stage post white house? >> it's very possible. i mean certainly that for what i think is a relatively small number that 70 plus million voted for him that are fanatically, not fanatically who are believers fully in mr. trump rather than what i think most people are, which is believers in his policies that were in certain areas positive for the economy, et cetera so look, of course, you know, he can rise from the ashes, but i think it's unlikely. i actually think he has -- this act of his has put as against all the other acts which you could say in stark relief or just as -- they're not, nothing comes close to what he did which is to incite a riot, i think

he's disqualified himself and i think that's what will happen over a period of time. maybe it won't, maybe he'll have a resurgence, good luck to that but as for me, my attitude is now move on. there's no productivity here there's no productivity to do anything in the next few days other than quiet things down, get the inauguration finished and start a new administration >> speaking of that, barry, how does business see biden right now and at some point do you envision them bristling at the notion of higher taxes, more deregulation, the opposite of what they had applauded over the last four years? >> i don't know what's to come i don't know yet i think none of us know. i think there will be probably higher taxes i think that would have happened in any event -- i shouldn't say any event. who could predict if we had four more years, but i think that

probably will happen there's some justification for it there's always a justification for rewriting our insane tax code but what will happen with regulation, don't, can't -- i'll tell you what i do find interesting, i had thought that a biden election would cause the markets to drop on basically all of these worries that you just said god, that certainly hasn't happened so i think there's general optimism what they'll do in these particular areas, i suspect -- i don't know -- i shouldn't say suspect, look, i hope they govern from the center, center left but center which is what has been promised and we'll see. >> hey, barry, it's deidre a few of the things you've said over the last few minutes like let it go, let's move on, i

wonder is that the kind of attitude that perhaps got us to wednesday's chaos in the first place, this sort of passive acceptance of the misinformation, the calls for violence that have characterized the last few years >> it has nothing to do with it. it only has to do with it's 12 days what's the point why are we going to obsess over what is old news now, i'm not in any way -- >> it's not just about the next 12 days. it's about the last four years >> well, he's leaving office, so he's gone from his position of any power, so i just -- if we're talking about symbolism, that's one thing, i don't think the symbolism of throwing him out is worth it i do think it would be great if he resigned. i think that's also symbolic because it's relatively meaningless. it's a few days.

to a new administration. they are already in power, so i just think what's the point? i'm not talking about this as a symbolic act i'm talking about it simply as pragmatic and practical. and a waste of time. >> barry, i want to make sure -- barry, i want to make sure we get your thoughts on some of the big issues facing your businesses, in particular, i see facing off with google for its monopolistic approach. in the past we've heard a lot about iac's issues with google, more recently google has said is taking issues with iac's marketing practices as misleading, threatening to remove some of iac's plug-ins which could be potentially very damaging for iac's business. what is your latest response to this from google >> well, response to google? first of all, i think again i

think one thing that's going to happen and needed and been needed for a few years there's going to be regulation, more stringent regulation of big tech companies i don't know if there's anybody -- i don't know se-- who doesn't think that sensible regulation will be applied it will take place this year or next year and i think that will help -- i think that will help -- i don't think this playing field is ever getting leveled. google is a monopoly without question and so, you know, i've always argued with google that, you know, i think of it as if you live -- you know, i think everybody lives as a serf, old russian serfdom on the lands of google but i also think that it is -- i've said to google, it's wise to treat your serfs really well

because otherwise they tend to rise up and overrun the castle and i think what will happen is that regulation is going to help provide that, so i have a lot of equanimity about what i think will happen in the next couple of years >> and i know you've talked about competition with google not just in terms of iac but in terms of expedia do you think that google should be broken up or just regulated more stringently in terms of how it can deal with its competitors? >> no, i think breakup is -- i mean there's some extreme cases where it's appropriate google, what are you going to break up they are a search engine, all of their revenue comes from their search engine. there's no breaking up of it there's no chopping it in parts. it's the most powerful search engine, i mean it's a monopoly and by the way, it is a great search engine. our argument is simply that, look, ours is a company, our

company spends more than $5 billion a year on google and i am perfectly happy to pay that as an advertiser to get people to come to our sites. whey don't want is that google should compete with the money we are paying them for its own account because i think that's -- i don't want to go fair or unfair but i think it's improper and i think that regulation will fix that, i believe. >> barry, i want to widen the aperture a bit you mentioned a few minutes ago you're talking about the markets, you said we're beyond exuberant. i don't know whether you're looking at what bitcoin has done in the past few weeks if you look at what tesla is doing right now with its market tap above $800 billion passing facebook, what is the impact of this exuberance, you think, on

investors, large and on operators like you who are looking at m & a, who are looking at compensation, all kinds of things? >> well, i think you have to look at basics i mean, if you look at just the markets and your current exuberance and make decisions relative to those values, as for me, operating our companies, i think it would be a great mistake. i think that what, you know, what will happen at some point as always happened, will happen again, the market will break values will get back to less exuberant levels at some point for some reason exogenous or otherwise and that's that, but actually either put your companies in danger in terms of spending cash rather than conserving it and treating anything you spend it on

sensibly rather than at, quote, market prices, i think that's a good thing and i think that -- well, forget about what i think will happen. >> barry, i also want to get your thoughts on the future of online gambling, online gaming, iac made a big investment and sent a letter to mgm in support of its acquisition of ntain. how much more are you willing to invest in mgm to make this acquisition happen >> we think since we've acquired our interest in mgm, i've become if anything more positive and i started out really skeptical about investing in this area but i became as time went on, as i started to understand it i got

enthusiastic about it and invested a billion dollars and since then everything i've learned both about its management and its prospects encourage me to the point where i said that if this combination happens between mgm and ntain which is primarily stock overwhelmingly a stock for stock combination that we would for those people who couldn't take stock we'd put up an additional billion dollars, investor another billion dollars or in any other words double down and have that cash be used to buy those shareholders out, so we're completely supportive of it. whether it'll happen or not is, you know, who ever knows in these things, there's no question there are two things, one is putting these two

companies together, an offline player and online player to have the world's largest gaming resorts entertainment company, i think it's a fantastic combination. i can't imagine anybody, i've not heard of word of anyone saying, oh this, is a reach. this doesn't make sense, et cetera, et cetera, so as a combination it's perfect whether it'll happen or not, you know, the stars have to align and all of that. whether or not it happens, mgm is going to be in the online business, it already is in the united states very significantly and it will be because it will invest to get there. all over the world it will become a leader in the next years, the combination of mgm resorts and their incredible footprint in resorts and gaming in the u.s., in mac caw, that

footprint allows us to be unless we're utter dopes and i'm pretty sure that the manager at mgm is anything but is the ability -- >> barry, if that -- >> one line area as effectively as they've gotten into the hard asset area. >> if that particular deal does not go through, are there any other online gaming assets that you would be looking at or any other steps to increase your exposure to the online gaming space? >> yeah, there are opportunities all over the world there are existing companies there's the ability for us to go into any territory in the world and with our very solid balance sheet if we have to we'll start from scratch whatever is going to happen we're going to be there. if this opportunity doesn't happen, there will either be other acquisition opportunities or there will be investment opportunities. but there's no question that over the next years online

gaming worldwide is going to grow as online transference of everything has grown over the last decades that is a certainty. so -- >> and it's the online growth that is certainly accelerated during this time of covid. barry diller, thank you so much for joining us for this wide-ranging conversation. we really appreciate your insight on all of these different topics and hope you'll come and join us again soon. >> thank you been a pleasure. >> and as we head to break alibaba popping, a new list of chinese companies banned by the u.s. does not include alibaba or ten cent that had fallen on reports the u.s. was considering targeting the company, of course, it's been under pressure for a few months now because of pressure in china as well we will be right back so do stay with us.

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getting breaking news out of the fed vice chair responding to the chaos on capitol hill this week, what it means for the economic outlook in a conversation with our steve liesman at the council on foreign relations a few moments ago, take a listen >> steve, thank you. i think it's fair to say like all americans i was angered to see the chaotic images of mobs

storming the capitol and occupying halls of congress determined to disrupt the constitutional process, but i was thrilled and pleased to see that the house and the senate have ratified the election results per the calendar and per the law and i'm sure my colleagues look forward, will look forward to working with the biden economic team when they take office on january 20th or soon thereafter. you're absolutely right, however, that confidence about the economy and our system is an important factor in economic activity and i'm hopeful we can get past this episode and look ahead as the new administration comes in, as we work together to put in place the economic policies that can support the recovery >> would continued instability cause you to change your outlook on either the potential of growth ohr actual growth in the united states? >> well, as a hypothetical i think hypothetically if that were to continue then obviously

any stability that erodes confidence and capital spending and investment and consumer confidence is something we'd have to look at. i don't think that will be the case but obviously if it were, we would have to factor that in but let me be clear i don't foresee that as being a challenge. >> i hope you're right about that let me ask you go the payroll report that came in down 140 -- >> some important headlines there, jon also saying that sees keeping the current pace of purchases through 2021 and it can be quite some time he says before we begin to think about tapering sort of echoing what the fed chair has said in recent months. >> yes, indeed, carl and meanwhile as we head to break, also keep an eye on roku. you can see it's up a little more than 5% that's an all-time high. cracking $50 billion in market cap. the company announcing it has acquired quibi's library of content as we talked about

earlier this week. they were rumored to be working on nearly three months after that short form video streaming service shut down. we will be right back. stay with us

> surging covid and transitioning government >> it's going to happen gradually. >> for the first time he's acknowledging that there will be a new administration. >> donald trump finally for the

first time conceding it was also the kickoff of 2024. >> hopefully calm returns. hopefully, hopefully there's hope. >> the facts, the truth, the news with shepard smith weeknights 7 eastern on cnbc welcome back i'm sue herera your cnbc news update. as flags fly at half-staff on capitol hill today, a senior justice department official tells nbc news there is a federal investigation into the events surrounding the death of capitol police officer brian sicknick officials do not know if the death meets the legal definition that have crime. today president trump is tweeting he will not be attending joe biden's inauguration this month and there's a report he may head to florida the day before the ceremony he would be the first president since andrew johnson to miss his successor's inauguration

and nebraska's ben sasse is now the first republican senator to publicly say he is open to impeaching president trump and removing him from office while south carolina senator lindsey graham says a last-minute impeachment would do more harm than good and it's time to heal and move on. you are up to date see you again in an hour, deidre, back to you. >> thank you for that, sue still a big show ahead we have an exclusive with c 3ai ceo tom siebel it's above $140 a share. back in two minutes.

welcome back c3.ai made its public debut about 30 days ago and the stock already up more thank 200% from that $42 a share price where the ipo priced and for a look at what 2021 may bring, we are now joined in an exclusive by c3.ai co-founder and ceo tom siebel. tom, good to see you i want to talk about the technology space but first you've been in business for a long time. innovation globally. i want your take, what's the proper response of american business to the position we find ourselves in as a country right now based on the events of the last few days and weeks and do

you see any impact on brand america and brand american business >> well, good morning, jon and i think what's transpired in the last few days is it's, you know, historic as it relates to the republic and it's just a tragedy and i fully expect that the american people will band together as they do, okay, and unify and get together and get on with the job of operating the greatest country in the world and building business, creating jobs and dealing with, you know, important social issues that need to be addressed so i fully expect the american people will come together and get the job done as they have always done in the past >> now, do you expect any ongoing impact of this in the way that business operates internationally? we talk about, you know, there

are all sorts of metaphors, shining city on a hill, you know, the example that america sets, american leadership, china has certainly taken the opportunity of this challenge to american democracy to level some pointed criticisms at us and there are a lot of ways in which china is trying to challenge american business and its influence globally is that an issue >> well, i think that we are looking at, you know, a fundamental contest two d diametrically opposed philosophies, one is totalitarian state versus a free market economy and in, you know, historically the free market economy might be a little messy but we seem to rise to the occasion and get the job done and i believe that we will rise to this occasion >> tom, how do you see that broader, you know, ai race between the u.s. and china

you've been hugely successful since your ipo in attracting investor attention there's a lot more startups focusing on artificial intelligence in china. where do you think the playing field is right now who is in the lead >> well, i think in china they're investing tens of billions in this in a very well organized fashion coming from the nrdc down and they are very serious and as vladimir putin said and i think september of 2017, you know whoever wins the war on ai dominates the world. i believe that's true and it will not be russia so i think it's critical and need to take it seriously. we have some very bright people in washington, d.c. doing this, but i think it needs to be more organized and, you know, hopefully i'd be surprise fundamental this administration doesn't step up to the plate,

recognize the importance, make the use of the bully pulpit and especially, you know, mobilize the private sector as we do so well in western economies to address this opportunity, but if we lose this war on ai, we -- the story will not end well. >> tom, a lot of people who watch innovation and tech for a liveing are centering in on climate. it's certainly a priority for the new administration kara swisher thinks the first trillionaire will be somehow in the climate business i wonder if you think it deserves to be at the center of the discussion from here on out. >> yes, i think that -- i think that, you know, energy security and climate security are very important issues and these are very natural applications of ai so you can see the work that we are doing with -- at the c3.ai transformations with microsoft

and mit, berkley, princeton, carnegie mellon, university of chicago and stanford that the next call for papers is going to be about ai and digital transformation to energy security and climate security so i think this is a natural application of ai where we can have a huge impact on safer energy, cleaner energy, more renewable energy using ai for carbon sequestration, what have you so yes, i think there is a very large opportunity there and we'll be -- the institute will be making a very large announcement on that shortly >> finally, tom, we had barry stiller on earlier this hour and he said, quote, we're beyond exuberant, unquote talking about the market you know, you just went through an ipo, not your first experience doing that. but the price, the valuation that c3.ai is getting now is so

different from what the process suggested. reflect, if you will, on that. are you happy with how the process went as you try to manage the company from here and employee expectations, they have a stake in this as well. does it present challenges >> well, it's largely employee owned companies so all of this is perceived as, you know, good news by the employees, by the customers and nationally by the investors. now, i'm not an expert on capital markets but certainly we are seeing, you know, c3.ai is kind of the first pure play enterprising company and been very well received by the public markets. you know, and as we see, you know, the changes that have been really accelerated in the global economy since the onset of covid in -- whenever we say january or

february, a dramatic acceleration in the desire for digital transformation and the desire to apply ai to business and government and health care and telco and transportation and defense and intelligence so this market is growing very rapidly and, you know, it's our intention to play a substantial role in that space >> yeah, and investors and traders want to play a substantial role too, it seem, the stock is up another 9.5% so far today. tom siebel, thanks for joining us happy friday. >> thank you, jon. jon, another thing that's up once again is bitcoin. hitting fresh record highs today after crossing 40,000 for the first time yesterday now well above 41,000. it is up 40% just this week

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on potential electric vehicle plan, back in the headlines, with them saying it is in early stage discussions with apple, preparing to sort of step in something there, stick its foot in its mouth and that apple is also in talks with a variety of other automakers. apple itself declined to comment. shares of apple slightly higher

today. hyundai, however, finished the session in asia up almost 20%. deidre, it's a pretty well-known rule if you're partnering with apple, don't talk about it because apple will cut you off like that. so who knows if this electric vehicle thing is apple, don't talk about it because apple will cut you off like that so who knows if this electric vehicle thing is actually going to happen but something tells me some people are duct taping their lips shut right around now. >> i've seen that happen with some of the other big tech companies, too you're right, it is so rare for apple to acknowledge rumors, you and wonder if hyundai shot itself in the foot a little bit. that reaction says a lot, even though hyundai says it is talking to a number of other car makers just that prospect of an ev from apple is enough to get the markets excited.

>> yeah. although as we pointed out with jim this morning, the micron shortage points to overall short supply in the chip business in general. the nikkei talking about they might have to trim production because it's hard to get the chips. we're back in a moment some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more

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as we mentioned earlier, carl, roku has acquired quibi holdings llc that is the entity that holds content distribution rights for the content that that failed effort, jeffrey catsenberg, supposed to be bite-sized content, optimized for mobile. now roku has those content distribution rights. they have not bought the infrastructure and technology, including that turnstile interface that were part of quibi. all of this is supposed to live in the roku channel. roku's efforts to really have a unique content experience within roku, not really doing original

content but they are doing their own sort of curation, their own deals for content. it's found a resting place, we can at least say that, carl. >> we talked to anthony wood in the week who has been resolute about not getting into the original content business, as you point out. but this is their own. i was looking back at the shares three years ago this month, $40. so you're looking at basically a ten bagger in a few years. >> incredible rise something interesting in the stock position roku will reportedly have to present the shows in those bite-size format so they can't string them together it will be interesting to see if a different platform makes this content more appealing i just wonder behind that decision, not putting them together, perhaps shaking up the whole format entirely. i don't know personally i didn't watch any quibi shows. i wanted to but i just really

never found the place tho o do , carl i do have a roku-tv. maybe people will take to that >> we're getting a remarkable flow out of washington eamon javers will bring us the latest >> reporter: we're getting a letter from nancy pelosi that contains a paragraph the likes of which i don't think we've seen before in american history, pelosi reporting to her democratic colleagues on a conversation she had with top pentagon leaders, pelosi saying i spoke to the chairman of the joint chief of staff, mark milley for preventing an unstable president from initiating military hostilities or accessing the launch codes or ordering a nuclear strike. the situation of this unhinged president could not be more dangerous and we must do

everything that we can to protect the american people from his unbalanced attack on our democracy. she has talked to the joint chiefs of staff to remote the nuclear codes to the president she's silent on what milley's response may have been to that the trick is there's no constitutional way to remove the president as authorities of command are in chief while he's still serving as commander in chief. that is, if he's not removed from office, there's no way unthe constitution, that i know of, that you can remove some o . the president's authority.

it very d it's very cascary stuff. she says she and other leaders have called pence and hope to hear from him as to whether he and the cabinet will honor their oath of the constitution of removing the president from office clearly she prefers that pence and the cabinet remove the president and not congress that's what she's leaning on here back to you. >> developments are coming quickly. thanks for keeping us posted >> before we go, we also want to get to this enormous rise in bitcoin. still above 441,000 kate >> it broke through in about 24 hours and is up about 40% this

year some of those factors are the same driver that pushed bitcoin over 10,000. we talked about a flood of new institution an investors that see this has a hedge against a weaker buyer, but there's and about a resurgence of the retail buyer. look at google trends since december when bitcoin first surged and analysts chalked that up to fomo or fear of missing out. and there's a recent surge in alt coins. it puts the value above $1 trillion for the first time. but this shows that fewer people are actually selling, causing what they call a liquidity

crunch with an imbalance between lower supply sploand fewer peope chasing new coins. they say the price target could hit $146,000 some are looking to that digital asset as a safe haven. >> everybody's looking for safe havens in some form or fashion kate, thanks very much have a good weekend. let's get to the judge >> welcome to "the halftime" report we have interesting buys and sells today from our investment committee. with me for the hour today, jim lebenthal, pete najarian, mr. wonderful, kevin