good morning it is 8:00 a.m. at poshmark headquarters in california it's 11:00 a.m. on wall street and "squawk alley" is live ♪ ♪ ♪ ♪ happy thursday, welcome to "squawk alley. i'm jon fortt with carl quintanilla and julia boorstin or consumer tech week kicks into

a new gear of gadgets with samsung announcing new phones, poshmark going public, and the ceo of starz joining us to talk who has the power. before we get into that social media still in the spotlight as twitter ceo jack dorsey expresses ambivalence about the power tech companies have used to cut donald trump's microphone, says it was not a coordinated action carl that's where we'll begin the hour this morning social media and freedom of speech. always great to have you thanks for kicking off the hour. >> of course great to see you again >> of course jack dorsey's twitter thread yesterday talking about how it's not something to be happy about or celebrate. snap banning the president as of the 20th where do you think -- we talked to heath terry of goldman yesterday. his view is it's inaggregate do you see it any different? >> well, i do see that and

totally agree it is risk mitigation for the fact this, if y you risk further chaos, it's intolerable. social media accounts have been banning actors who have been breaking their terms of service since they've been created, something that is normal the thing that's been new there have been special permissions because of newsworthiness or political relevance and so i think what happened because of the bright red line and the terms of service in the views of so many of these actors were so badly violated they had to think about how to re-assess the idea of special privileges. >> so where do you see it headed we're already into the server area with parler, aws. people subscribe and use email

and software for all kinds of different areas. do you see it bleeding that far? >> yes, i do, to be honest, and this is a challenging issue and it's important to note that twitter is the one making the news, but facebook has eight times bigger audience, youtube has a six times bigger audience and of all the apps you see on your mobile phone those almost all run through the duopoly of google and apple 40% of the internet runs just on amazon's cloud services. once you get into the infrastructure level you start to see even more concentration and when used it had has an even bigger effect. if anything this affirms to me that technology is no longer simply a sector but is infrastructure we just have to think about it that way and that increases the responsibility of so many of these tech leaders on where to draw lines around things like

speech >> kanyi, absolutely not only does it increase the responsibility of those tech leaders but it will also increase the scrutiny of them. i'm curious for your perspective on this comparison that jack dorsey made between the power that social media companies have and the fact that he'd like that power to be decentralized and the comparison to bitcoin. the fact that bitcoin and cryptocurrency are decentralized is one reason he's such a fan of them and would like to see a similar thing with social media. you are an investor in snap and also an investor in crypto what's your take on that comparison >> i think it's an apps comparison and i wouldn't associate it directly. it's more interesting as an asset rather than a piece of infrastructure although it speaks to the infrastructure story. i want to talk about the idea of

infrastructure and so right now email is not owned by anyone you can't shut down email. you can shut down email storage and servers but not protocol because it's an open decentralized protocol that's 40 years old. this idea is an old and widely distributed concept but is taking on increased urgency in its need to be transmitted in different parts of what we use top level domain we use dot-com, dot-uk, are owned by different countries and different sovereign entries. we have an infrastructure called name based, use the handshake protocol and so i do think that jack is point to go a very important point which is this idea that the promise of the internet was a way to sort of flatten this access point to everybody and decentralize the power so that everyone can have access

what's happened there's been so much consolidation over the last 15 years and the faang-dom companies have been a part of that the most important be such a loud champion but it speaks to the urgency of it. >> kanyi, that, for me, was the least coherent and in a way most contradictory part of what jack had to say was talking -- comparing this speech situation to bitcoin that seemed as if he was trying to say i don't have a problem with the fact this crowd is trying to undermine the constitutional process and perhaps subvert democracy, i just don't want liability for it why don't we create a system impossible to police like bitcoin -- which isn't exactly impossible -- but that's somehow better that doesn't seem better to me >> i hear your point, jon, and it's an interesting one. i don't know what's happening in

jack's head on this but i do think this idea that he's supposed to be the cop is a responsible that he shouldn't have to bear only 20% of u.s. twitters are in the u.s. is he supposed to be doing this in the united states in protection of the constitution, which is supremely important and is, in fact, indeed a bright red line, but for the other 80% of the twitter users in the world as well? fewer than 10% of facebook's users are in the united states should mark zuckerberg be a global police officer as well? of course not. the point they're trying to get at, which they're making awkwardly and i'll totally agree on that, this idea the infrastructure needs to be more decentralized because it will be impossible for a private company to have that level of responsibility when the stakes are so high. >> you're right. these are not elected officials and in the many cases are not really beholden to the board

we know what we know about them and that's about it. i have one last thing, people are pointing to snap, kanyi, as the hole in the doughnut it hasn't been a font of social disinformation and people wonder why. is it about controls they put into place is it about the demographics of the user what do you think is special about snap >> i think a couple of things to note the first is that snap is considered a social media platform in the same way a twitter and facebook are i think that snap is better thought of as a messaging utility. the vast majority aren't using it to post one too many or are not using it in the same way that the press might be using twitter or a public company might be using twitter using it more to communicate instead of what's app or facebook messenger, instead of sms. it's important to understand of it more as a messaging utility and whats app itself hasn't particularly been a font of disinformation either.

there is something of culture and social media in the united states which needs to be given careful consideration. and i think the social media companies have a lot of responsibility there, but it's not their sole responsibility. traditional media has a lot about this, too. there's a lot of factors that are at play. the most important is snap is a messaging utility. it operation in a different frame of mind. >> it takes me back to the ipo days when they said they weren't beholden to network effects. looks like that has paid off this time. kanyi, always good to see you. kanyi maqubela "squawk alley's" consumer tech week continues next with the ceo of logitech. stay with us we're back in just two minutes

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maybe like your dog, as part of this year's product unveil julia, we were expecting to see something like this from apple samsung is without with it first. that could be a common refrain but it hasn't hurt apple's stock price. >> we have to remind our viewers there is a similar product called the dial that does the same thing and i've had those attached to my keys for years. these new cell phones, yes, they're less expensive but will the mobile phone cycle look different on the heels of covid after people invested so much in desk tops and laptops, in making their work from home environment better, will they still feel compelled at a time when they are less mobile to invest in mobile devices

>> yes, i can't believe i didn't say 5g in this because these samsung phones all have 5g the piece that's been so important to people during this period is connectivity, whether you're at home or out. we need to be on zoom or on webex or teams or all these things to keep in touch because we can't meet face-to-face as much as before and the phone is an important kind of centralized way to do that meantime, the work from home economy is driving innovation and growth as we were just talking about, not just for the economy overall but particularly for our next guest with us now as "squawk alley's" consumer tech week continues, logitech ceo bracken darrell good to see you. >> it's great to see you >> normally we would be in vegas, maybe in a booth talking about some of the things i have got, you know, gold here. it's a webcam.

these have been -- i'm afraid i might get mugged even in the building if i -- not just an old generic webcam this is a logitech top of the line webcam this is like a ps5 what is going on i know you're in a quiet period so i'm not asking about this particular quarter but over the past year, what's going on with webcams, the demand for them and what kind of new features do consumers want >> you know, i think the demand for web cams has gone up as people have obviously set themselves up at home. and a lot of people are using a notebook or using a screen that doesn't have a good webcam and what they're really looking for you're used to stepping in front of the mirror or for most of us stepping in front of the mirror, say, five times a day f. you're on zoom or microsoft teams or google hangouts you're looking at yourself five times a minute you're really aware of what you look like and the quality of a webcam has a huge impact on what you look like on the other side

and to yourself. so what they're really looking for is better quality picture. >> it's like web cams are the new fashion, right in retrospect it seems crazy to me the front facing camera on a smartphone is so much worse than the one on laptops the camera and laptop, part of it's because we think laptops need to be thin, but that camera is bad, too, and now people are like, oh, my goodness, i need a better camera. camera envy. people are asking, where did you get your cam rcamera >> it's true it not only gives you a better picture but can auto focus you get better sound quality there's a lot that comes with a good webcam. i think that's why the demand has been so strong >> bracken, in addition to the demand for good web cams we've seen a surge in video game activity during the pandemic how is that impacting the demand for your products, and do you

think this gaming mania will continue through the rest of the year >> you know, the really cool thing about the game mania it started about ten years ago and it continues to go up and up and up it has been very strong this year and was last year and will be next year the rise in gaming is a long-term trend. the collection of sports that we call esports which include league of legends which a lot of people have or call of duty, those will be the biggest collection of sports in the world. they will be in the olympics, they're going to be all over the place. if you look at people under the age of 30 it's hard to find people who don't play pc games yeah, i think it will keep going on into next year and well beyond >> so talk to us finally about strategy, what you've said already and you can say at this particular point in time about how you get this period of time when people have been so focused on the product categories where

logitech is strong are you doing more direct to consumer are you doing more subscription? how do you keep the momentum that you've had during this period and make it a strength as we head out of the pandemic hopefully? >> we had real strength coming into the pandemic. we positioned ourselves behind four different trends. one of them is the conversion of audio calls to video calls we're well positioned there, in gaming very well positioned in the work from anywhere world especially the hybrid world where you will work some of the time in the office and some of the time at home you need two different work spaces we have the potential to upgrade all of those work spaces for ergonomics, better functionality, and then the last we don't talk about as much yet but is super exciting is the collection of categories around streaming and creating there are 700,000 podcasts now

it's going to go to a million and all of those people need a great camera, a great microphone so these are the collection categories they're in and are not a pandemic trend it's a long-term trend and that's where our business is >> the stock has doubled over the past 12 months bracken darrell, thank you >> great to see you. two big ipos to watch this morning. we have some new indications on petco. ipo price was 18, indicated 24.50. about a 30% plus gain if that does hold. poshmark doubling, indicated 85. and the ceo is going to join us next i think financial illiteracy and inclusion is everybody's problem. and that's why we created rapunzl. the rapunzl app was designed for high school and college students to simulate stock portfolios. they're able to buy and sell

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i believe we're very well positioned for both ups and

downs of the economic carousel we saw great performance in our product both during the pandemic and during the very long expansion that happened before and we're excited to do our part in rebuilding the economy going forward. in case you missed it, that was affirm founder and ceo max levchin with us yesterday as that stock nearly doubles on its first day of trading, up another 20% this morning watch our full interview wh x lyn bcomit

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for a changing world. ♪ch-ch-changes♪ welcome back, everyone i'm sue herera here's your cnbc news update this hour. nbc news reporting the national mall will be closed to the public for the inauguration. at previous inaugurations more than a million people have watched from the area between the u.s. capitol and the lincoln memorial president trump's impeachment trial could begin at 1:00 p.m. on inauguration day. that's according to senate documents obtained by the associated press former michigan governor rick snyder has pleaded not guilty to two charges of willful neglect of duty during the flint water crisis two former michigan health officials have been charged with involuntary manslaughter in the deaths of nine people. and in wisconsin prosecutors are asking for tighter bond restrictions on kenosha blm

shooter kyle rittenhouse photos show him using a white power symbol and posing with members of the proud boys last week you are up to date that's the news update this hour carl, back to you. >> all right, sue. we'll see you in an hour poshmark is set to make its debut this morning, the latest indications suggested doubling at the open. joining us first on cnbc is the founder and ceo of poshmark manish chandra congratulations. thanks for being with us >> thanks for having me. it's a great day >> it is a good day for you, it looks like anyway. i want to talk about the business and the model and profitability and all of that. on the pricing first, i have to imagine you suspected you would get a nice pop at the open you're still comfortable where you decided to price >> for us from the beginning our focus has been to serve our community and build a business

for the long term and that's what we're focused on as opposed to the stock price the reason we are here we want to re-invent the future of shopping >> almost 32 million active users. we talked to hans a moment ago, roughly 27 minutes a day spent on the platform in 2019. can you just talk about how the trends that we're seeing in e-commerce are beginning to filter down into subsectors of retail, in this case second hand goods? >> it's shifting to three different trends one is a shift to online and the pandemic accelerated it. number two is about bringing people together and number three is a sharp focus on sustainability that is about second hand and empowers everyone to buy and sell in a social way new and second hand

everything from fashion, home beauty, all kinds of products. >> manish, it's interesting you founded an e-commerce site called ka kaboodle and sold it poshmark was built for the smartphone era in the 2010s. in the 2020s, where we are now, what technology do you think is going to most define e-commerce? >> i think two things i see. mobile is a trend and video. last year we launched posh, our short form video and the second is the word of social. we've lost the human connection in commerce. we're bringing it together we look at that as really what will define the future of commerce >> what is the place of artificial intelligence in that? we see names like stitch fix to improve the customization,

curation and advice experience within commerce. how important do you think that is for poshmark and in general >> i think machine learning and artificial intelligence are very powerful, very important technologies and the underlying thing. we have a lot of it built in how can we use that to help our sellers and our shoppers connect better fine things better and re-invent the future together. >> manish, what's interesting is this market for resale is growing dramatically, but there's quite a bit of competition, you compete with the likes of threadup and then there's the real real which is already public and in a lot of ways you also compete with etsy and ebay how do you think about the competitive marketplace at a time both buyers and sellers can move freely between all these platforms? >> for us the focus has been building a very social model where we don't take any

inventory and allows to thrive one of the things that has been a real challengefor the econom and for people is that people stop wearing the things they were wearing before, dresses, shirts, things to events, and instead shifted to sneakers, sweats and our marketplace was able to quickly reconfigure. many people can turn to poshmark to make an income and thrive the third thing is everything we do powers sustainability and when we combine these things we think of our model as having both relevance from where we've been but more importantly re-inventing the few door where we can be social, simple and sustainable. >> the social piece really does seem like a key differentiator with your themes and various brands i'm curious in reference to the

realreal which does authen authentication, you do it for items $500 or more, is that an area you'll have to invest more going forward? >> we continue to invest in all dimensions when we think of authentication, integrity and innovation around the seller and buyer experience. for us we are a technology company. my background is as a computer technologist so we think of something that's focused on commercial but also deep technology and that's been one of our strengths and continues to be as we look into the future >> the market is focused on vaccines and the return to mobility in the country and some argue to physical retail, people going into stores, do you call that a risk factor, quote/unquote? >> we really hope we can all socialize with each other and hope for a healthy and amazing

future for all of us we used to bring a community together we're missing that human connection when we think of our business we see actually people going to even, to offices, actually participating in the real world as an accelerant 45% of the items we sold are apparel, and that's really not something that is seen that level of excitement as we interact in the physical world >> we'll be waiting for the first trade. appreciate you coming on to talk about it in advance. please come back >> thanks for having me and, of course, love to. chip stocks are moving higher taiwan semiand qualcomm among the names at all-time highs. intel is rising again on the ceo aansition news. were back after the break. stay with us

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let me check. xfinity home gives you peace of mind from anywhere with professionally monitored home security built around you. no, i think we're good. good. so when you're away, you don't have to worry. the tent. we forgot... the tent. except about that. xfinity home. simple. easy. awesome. hey look, i found the tent! get xfinity home with no term contract required. click or call today. another record quarter in ott subscriber growth in starz as tech week continues with us now on where starz fits within the incredibly crowded streaming landscape starz ceo jeffrey hirsch jeff, thanks for joining us today. >> good morning, julia thanks for having me on. i'm excited to be here >> so, jeff, the last time you were on was april and we talked

how starz was benefiting from an increase in viewership and engagement during the pandemic, since then that has continued to play out you've seen an increase in subscribers, over 9 million here in the u.s. to your direct to consumer app this better than expected growth this year do you think will continue or was a pull forward from what you might have had in 2021 should we not have had the pan defensemenic >> we think it will continue we saw significant growth leading into the pandemic. this was the plan all along. four years ago we looked to consumer behavior shifting and made the decision to pivot starz away from the linear business and focus on the ott business. this past quarter was an inflex point for our business the first time in the history of starz we had more ott than global linear subscribers and we think revenue will follow within

the year >> so really amazing shift to digital there. a question for you, again, about how the landscape has changed since you were last on our air in april hbo max launched, peacock launch as well as, of course, the likes of discovery plus which just launched st starz is $8 a month. discovery is $5. where do you fit in this increasingly crowded landscape >> the next 24 months will be exciting for our business. if you take a step back and how the ecosystem is unfolding we see three tiers of service for the consumer, basic streamers, ad-supported services, discovery plus, hbo max and they're trying to be all things to everybody in the home and that's where the battle will start, to be that first in the home. the second tier where starz

international fits and it's nonad supported adult drama based service that is what we like to call content people are willing to pay for and makes us a very complementary service for the broad based service that is will compete for the first spot in the home. the third tier is the genre based, the shutters, the sundances, also complementary services to that first tier in the home we believe we are set up to be just like in the traditional business today, sold on top of the tier one services and makes us a very important component to the ecosystem. >> when you talk about the future people subscribing to services in each tier, what do you think about cord cutting guggenheim forecast 27% plan to cut the cord in 2021

certainly you have the option but how much will the loss of regular paid tv bundle sub subscribers hurd you in the meantime of this transition? >> that's a great question, julia. the premium service has never been 100% penetrated on the traditional business we think there's a lot of opportunities for us to grow with our traditional partners. our last quarter we grew 16% on comcast. we've been working close with them to continue to grow the business we think there's a lot of opportunity for premium add-on tiers like starz we believe there's still great opportunity and we've been able to hold the business flat the last two quarters. >> all right, we are looking right now -- thank you,

jeffrey -- at starz. we're looking right now at poshmark it has just opened you can see it up more than 135% really close to $100 a share we just had the ceo with us here on "squawk alley." you were just talking about starz, transitioning back to streaming and the opportunity that you see do you have any sense how consumer habits have shifted during the pandemic? you were talking about uptake of the video on demand and how they're likely to normalize the next few months? >> great question. we've seen not only accelerated growth in terms of subscribers on our otc services but engagement on the service during the first couple months of the pandemic we saw consumers going deep into our library of content.

we saw 33% increase in viewership on "outlander" season one, two and three our biggest show "power. while it may have brought our service closer to the consumer and we're thankful for that, i believe our growth will continue this was something we planned for four years ago we saw the consumer behavior shift domestically and pivoted to the ott business and seep the same thing happening internationally. we're in 55 countries around the world. we've seen great growth and our starz play international product, continue to see great growth in starz play arabia. we think this may have accelerated the consumer exceptions, but we think the growth will continue >> i have to get your take on north american box office. an unprecedented decline in traditional movie going.

i wonder if you think that's going to bounce at all or if streaming is already just taken the sand out of the sandbox and to what degree streaming growth is at risk if people do start to go back to theaters again. >> when you look at starz, our product, it's driven by our big originals. that's where we see the acquisition is on our big originals like "outlander" our first spinoff ghost had an extraordinary launch and premier which gives us great confidence that we can launch two more shows. while movies are important to a streaming service it's the originals that drive the service. on the motion picture i think the lionsgate group has done a phenomenal job adapting and being resilient to change and pivoting from the theaters to director streaming while i think the business has changed forever i think people will go back to theaters and it's great for the consumer.

great for the motion picture business and really great for starz. i, for one, am excited to get back into theaters >> jeff, a final question for you about production during this add time of covid. i see headlines every day about whether production is shut down as numbers continue to spike what's been going on with your production schedule and how do you see it changing post covid >> we are very lucky that we shoot most of our shows a year in advance so when the pandemic hit last march we had shows in post production. what i've been impressed with the creative side of the business is using technology to complete those shows we premiered american gods last sunday episode two will premiere this weekend. that was completed in the middle of the pandemic. we finished "ghost" and started

and completed "girlfriend experience in london" during the pandemic we've been lucky to launch five new shows in the pandemic. we have nine shows in production right now. in london, in scotland, in york, in north carolina, atlanta, and we are a bit delayed in l.a., but we will start up a week from monday in l.a. again we spent a lot of time with the lions gate group putting protocols in place and working to keep not only our employees but talent safe and have been able to complete three or four shows during the pandemic. we won't have any interruption on our slate this year >> amazing, no interruption there. jeff hirsch, ceo of starz, thanks so much for joining us today. >> thanks for having me today. have a good day, everybody as we mentioned a moment ago poshmark just opened for trade after pricing at $42 opens at

$97.50 we'll watch that closely also watch gamestop up another 20% after a near 60% surge yesterday. at one point that stock was up 94% during the session the spike appears to be driven by the company's agreement go to cnbc.com for more on gme and for our interview just now with the ceo of poshmark we're back in a minute

central to apple's $100,000 diversity announcement yesterday is harlem capital. 10 million of that being invested with the vc firm to invest further in founders with diverse backgrounds. joining us now is the managing partner of harlem capital, jared tingle congrats good to have you now this is so fascinating to me i'm hoping we can learn from this because we look at your team, your team is diverse across the investments that you have those founders are diverse and you are oversubscribed in the round, in the initial round that you just raised. what's -- how did you do it? is it more about the team? is it about the connections you

had before how do others kind of replicate what you've done here? >> i'm glad to be here it's a mix of things i think we were at the right place at the right time. we definitely have a strong team the mission leads us so we decided early in our trajectory that our mission would be to invest in a thousand backers and entrepreneurs over the next 20 years and that has definitely helped guide us through the highs and lows we found some great sponsors earlier on we were focused on helping people helping diverse founders raise money and as a result the market just supported us in ways that were helpful so one thing led to another. we obviously work hard and we just try to focus on top tier partnerships and eventually that got us to potentially raising our first fund, but also the ambition where we can impact diverse entrepreneurs. >> tell me this is always kind of awkward to talk about we use words like diverse, but what does that essentially mean

with you does it mean that at least one of the founders is female or a person of color? does it -- how do you determine what diverse means for the companies, the start-ups that you're willing to invest in? >> we definitely take an inclusive lens rather than an exclusive lens we are always trying to get capital in the hands of people and the population that's our goal. that's why we exist and our competitive advantage. we look for diverse teams and we define it as a co-founder, at least one co-founder being a woman or person of color we focus on blacks and latinos in particular and we always keep our purview open and we always don't want to exclude any great people that we want to partner with >> jarrid, i wonder, occasionally you'll get an executive who gets in trouble because privately they were caught telling their team that there's not enough candidates, for example, in banking from a diverse background

i wonder if you would -- if you look at the universe of investing opportunities for you, do you have to dig or do you have more than you could possibly ever fund >> we have more than we need for sure we started early stage because we knew the opportunities were there. we had been in diverse programs. we have a diverse network and so before harlem capital was an entity formally we were angel investing and we had met so many great black, latino women entrepreneurs that could help us be successful. that was want a problem for us we had to prove that to the market a little bit. one thing we did is we actually found 200 black, latinx founders at the time that had raised over $1 million, and we never questioned the pipeline. it was more just finding data points to support it because the industry and the market research providers have been so reluctant to provide lenses on race and gender, but there's no issue for

us and we do roughly ten investments per year and we've seen way more deals than we could have imagined and we saw 1600 deals in 2020 800 yields in 20 nine. so we feel good about the pipeline and we continue to be more selective >> that's interesting. >> i saw a statistic earlier in the week and i think it was a number of female founders who eventually led their company to go public. i think you can count on one hand that it's a very, very low number do you think this chapter in this evolution and this improvement in diversity and american corporate life is going to be about going public >> it will get there so part of the challenge is that women and black, latinx entrepreneurs only receive about 4% of all vc funding it's been that way for a while even though they've been increasing we are seeing more and more success stories on the black male side. you see compass going public and

we see series, and the time will come and the challenge is that they weren't really getting these opportunities until 2013, 2014 so they never had the opportunity to get to the point where they can actually go public, but the tide is turning and you are seeing more diverse investors and you are seeing established d.c. firms focused on this and everything is going in the right direction, but it takes seven to ten years for a company to go public, and so it will take some time, but hopefully that's accelerating. >> but, jarrid, in the meantime -- in the meantime as those seven to ten years pass, tell me how your investments are impacting the entire ecosystem and there is such disparity and gaps in the whole tech ecosystem, but when you place these investments what is the potential impact not only in having ceos hire more people of color, but also benefiting the people who were other investors and on the table of these companies that you are backing >> yes

our bet always at harlem capital, and it will help them build companies and generate wealth and re-invest and successful and that is happening. we want our founders and have the capital build and focus on that, but we have the lens so we hold that internally and we also have our founders buy into that. so we are very pro-social media, and very pro building in public. one of our great founders is a mexican immigrant and was undocumented you in he's documented, but he is a big success story and one of the biggest in chicago. people love him all over so that's great another founder malomo, he's one of the biggest to ever get done in indiana particularly for a black male so we're finding founders that are standing out and are success stories, but also want to be visible and want other people to know what they look like and what they do and historically, you've seen people have success and hide

because they think it may hurt their business and we're in an era where you have to be visible and you have to personify your brand and it encourages more entrepreneurs to know that funding exists and they could be successful, as well even if they're in an underperforming background. >> what apple has done this week is put a spotlight as well as $10 million. that doesn't hurt. jarrid tingle of harlem capital. thanks for joining us. >> thank you >> i've got to point out what's happening with airbnb. all-time highs trading at around $185 a share in part because of what they say they're not going to do, julia business in the d.c. area around the inauguration right now, it is up 9.5% >> yeah and take a look at the real reel. of course, one of the competitors to poshmark which is trading and realreal shares are up over 40% year to date, carl

>> unbelievable, julia and watch dash today, up another 10%. market cap roughly in line with that of fedex after opening the first day at 182 on december 9th. now 216. and posh, opat 92 and opens at . let's get to the judge >> carl, thanks. welcome to "the halftime report." i'm scott wapner we are focusing on stocks and your money, debating that with the investment committee joining me is john lebenthal and megan w megan chu is head of investment at the wilmington trust. let's go to the wall there is so much going on today. fed chair speaking bottom of the hour the biden stimulus speech