those developments those development steps before we can gen to talk about a time line for scaling up >> all right well, we look forward to progress on it and many other people do as well, make. thank you for joining us appreciate it. >> thank you, david. have a great day >> you too micro man, 3m. carl all right, good morning, everybody. it's 11:00 a.m. at verizon headquarters in new york city and 11:00 a.m. on wall street and "squawk alley" is live ♪ ♪ . >> happy tuesday, welcome to "squawk alley.

we got some bold-faced names and big ambition today at the bottom of the hour, netscape founder and co-founder and silicon legend jim clark and his plans to do away with your pass words later, we got the co veo of vim. we will start with verizon, which just reported earnings, you see that stock down 3% what itself the outlook there and the things that they're wrestling with in a year where everyone's hoping to transition out of pandemic mode >> yes so this is a company that beat expectations on both the top and bottom line. but the stock down as you see 3% this morning because the company added fewer post-wireless phone subscribers than expected. so that mobile business, they have been a key part of verizon's strength but to see that growth slow is

notable to investors right now they're looking for the company did raise its earnings outlook for the full year 2021 and there are a lot of questions, john, to ask now in terms of 5g. whether there will be a slower 5g cycle than some of the past mobile phone cycleles. you have the tv business we seen cord-cutting then you have the fact they have been offering the over-the-top streaming services that seems to be going good for them they said they have converted about two-thirds of the people who had a free year of disney plus those people are now paying for disney plus. now they are offering discovery plus as well to their subscribers. john, i am curious what your thoughts are in terms of 5g, which has been a big question mark not only for verizon but for all of these care whiers. >> i'm curious about the read-through we are expecting apple earnings

and that stock has been near all-time highs in terms of this super cycle. you would think since phones are supposed to be the salesmen for the network that if apple's 5g phones are doing well, that verizon and carriers like it would be adding more subscribers, julia so i am curious what that dynamic is, if it's a different class of subscriber that is not taking the bite bait or what's going on >> john, we will tackle with this hans vestberg, who is joining us now that earnings beat not enough to prevent the stock from declining the morning. joining us now to exclusively discuss all of this and the year ahead is chairman and ceo of verizon hans vesberg >> great to be here, julia >> so, hans, we were just

discussing you had top analyst expectation both top and bottom line the stock is down about 3% it seems to be because verizon added fewer mobile subscribers than expected. tell us about the trends you saw in the first quarter >> first of all, we are very happy with the call and the subscribers we have in the fourth quarter we came into the third from the third quarter with a good momentum we actually grew our wireless service revenue with over 2% in the fourth quarter which basically was negative due to covid so that's very strong. but i think the most important, we have another how we enlighten our customers with the best network and experience 60% of our commerce are unlimited. 90% of the new customers coming into this quarter are unlimited. of those 90%, 55% took the unlimited premium. which is 5g including discovery plus and disney plus

this is how we approach the market we go ahead it up next year with a growth of 3% on wireless service revenue. because we see this model is working where we are enlightening our customer. we are getting high quality commerce getting into the market and coming into verizon. >> so, hans, i want to hear a little bit more about that guidance but it sounds like though there were fewer customer additions than anticipated in the fourth quarter, those customers were more high valued they were opting in for the highest value and highest-priced services tell me about how you expect that to continue next year and how that plays into your guidance and how it plays into that 5g conversation that john and i were just having >> i think that that is a moment we are offline two years ago we have our mix and massachusetts we are customizing and bringing in exclusive content with disney or discovery and apple. at the same time we have the best network

that has actually paid off very well for us when it comes to accretion but adding into the top and bottom line. i think that's why we are confident that the model we have deployed the last couple of years is so important and is really resonating with the market and our customers and on top of that we are bringing in 5g, which is getting impact in the fourth quarter one limited premium you need to have to use the 5g wide band. i think that's why we have the confident. this is the stress we have built over years as we outline a new strategy with a consumer focus and verizon media focus. this is paying off right now i am really excited with 2021 with 5g and everything we are doing. >> hans, i want to understand a little bit more about your strategy to partner with these extreme services, such as discovery plus, disney plus. you mentioned on the call and we were discussing this idea that you are converting many of the people who you are giving that

service to for free into paying subscribers. what does that mean for your strategy about these premium content partnerships going forward? how do they benefit your bottom line and how many more do you think you want to add? >> first of all, i think we have a unique strategy. we have the strongest direct to consumer distribution in this market with verizon and we have a great run and an effort. we decided to collaborate with the content providers exclusively with the best brands so we will not have runs of these kinds of agreements. we will have the absolute best runs that gives the experience extraordinary for our commerce we are giving it a great loyal from our customers our share numbers are down again. we are extremely good and at the same time when we convert these customers to paying customer, we get it as well as we said on the earnings call today over two-thirds of the customers that sign up for free

one year ago are now converted to being paying customer which is i think unheard of that somebody can do that i think that comes from our strength in our strategy, in our network and in our distribution and the brand we have. that's why we can work with the greatest when it comes to content. >> hans, on capex, the street has been modeling 17.5 billion you guide 17.5-to-18.5 what conditions need to be met to get to the top of that rain season. >> i think last year we have the same range as we have a couple of years right now we have a very, very great plan when it comes to 5g and fiber rollout in 2021. we are go him to basically double the wide band site in 2021 we will have more than 20 new -- for five-year homes we will add some ten more cities of 5g mobility we will add some ten new sites

on 10g or 5g mobile edge computer at the same time we are strengthening our fiber. so this is a solid plan and we have everything that our team needs in order to execute on that, that we have so we are confident that we will end up in that range >> hans, good morning. tell us about how you see postpaid consumer behavior shaping up in this time of covid. are family plans, programs, not playing out like they otherwise might? may it be people aren't roaming around as much is it business plans what is going on, where, programs, people are not picking up more wireless service to the extent that they are picking up more broadband service >> i tell you what you see in the market, take it on the consumer side, they are picking up more services you saw in our files, we had almost a record quarter again on our files next edition so definitely the importance of

what we are doing with wireless and broadband, it is more important than ever when it comes to what's happening in the world and here in the u.s. with the pandemic what we see or saw is that they are upgrading their service was. they are going upwards st that's what i am talking about is going to unlimited premium we now are 60 percent of all of our customers are unlimited. so on the distance side, where definitely we seen the rise on business group has done very well both on the public sector and large enterprises. the morning the business is a little bit lower activity given the pandemic so that is the trends we see and with the best forecast we see right now, we see that continuing we see actually growing forecaster with wireless revenue in 2021 than we did in 2020. >> medium business piece is key. thank you for that now, i want to ask about the role of the hero smartphone in

el ising a 5g new york in previous generations of the major network upgrade. we seen phones like the iphone, like phantom galaxy phone especially on verizon really making that case for consumers is that still the case with 5g and should we expect to see the return of a higher level of subsidies for an extended period of time to help you make that case >> we're very excited on the new phones coming out, both with apple and samsung. both have been inside. we can say that when apple came out in the middle of the fourth quarter with the 5g iphone and that was on important event. because a big base of our customers, i would say we see the same trifecta as 4g and same uptick of new users as i previously said. you can see in our unlimited premium, that is growing right now. 55% of our customers in the

quarter to premium that tend to be how important these types of devices are so, of course, there are some slowness or a little bit less of switch-a-poo in the market because of the pandemic and some close down of stores, et cetera. but in general, we see a quicker uptake on 5g phones. it was a long time when it took off. so we wouldn't have forgotten it at least i have. when i do the comparison, actually, 5g is taking off quickly right now. >> hans, i'm curious for your perspective on where we are in terms of the impact of covid-related work-from-home-related spending. you did see 5g customers slow down to 110,000 in the third quarter. that trend seems to be slowing him looking forward to the rest of this year, what are you anticipating in terms of an impact from that work-from-home trend especially as people start to transition to go back to the

office >> well, we see on the consumer side and on the file side, which, of course, a pent-up demand in the third quarter as it's even harder to do insulation due to covid in the second quarter but if you look at the second of all of 2020, that's almost the best we ever have on files when it comes to implementation so we still see a demand for broadband at home in order to work from home the same guess for enterprises they have upgraded and continued to do it clearly, somewhere, when we get to a more stable situation with the pandemic and the economy, people will come back to work. it will be a little less demand onnist but as see it, it's going to first i think on the public sector that has invested a lot on remote learning and for public safety. that will come back a little bit in the second half of 2021 but on the broadband and the home broadband, we think that's

a great opportunity. we still have a lot to do. both on 5g and wide band at home as well as files broadband we also have 4g home we see we are serving all the customers in the different ranges with a home solution, which is so important in these times. >> yeah, certainly, hans, we have all gone used to broadcasting and working from home myself included. thank you so much for joining us hans vesberg, ceo of verizon >> thank you very much watching nokia today, the dreaded favorites down, the volume this week 296 million 80 yars ade thl go inside the dreaded trwi wired when we come back loyee. or ten... then easily and automatically pay your team and file payroll taxes. that means... world domination! or just the west side. run payroll in less than five minutes with intuit quickbooks.

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to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mind at your local xfinity store. game stock is up again 12% short sellers continue to get hurt by what we are calling the dreaded trade with stocks being pushed higher by the thread. wall street bets and other retail investors we got a panel to go down the wire ohio joining us julia and our own indicate rooney. good morning to you both. >> thank you for having me. >> cecilia, you do a nice piece here essentially, it's real wall street action with dollars behind it what you basically say began as a meme? >> yes

absolutely i think, so there were a lot of people on the 2 million purchases who thought it was very fun in i that a struggling mall-based retailer was surging in the markets >> kate, where does that leave us and what kind of precedent does it set when you can see that kind of leap of virology from memes to short sources? >> game stock is the latest example. oh, sorry. it's the latest example of what we've seen happening in this area you have names like hertz, stocks that have gone haywire on firms like reddit and twitter. this is the latest symptom from the past year. it comes alongside a record new numbers of accounts opened on all major brokage firms. you talk to robinhood, square, sci-fi they are opening up the market to a whole new group of people

this is really the other side of that they don't like to be associated with the reddit traders, wall street's best. what itself going on with some of the harassment on here that you see again sort of villainizing these short sellers. it's something the smaller brokage firms like to separate themselves from. >> cecilia, it seems to me like the tiktoking of wall street i mean, this isn't about the company, itself, so much as it's about entertainment. right? and people being willing to pay for that entertainment for seeing a stand-up or a comedy club there are potentially billions of dollars, in investor dollars on the lean here i wonder what's the broader message about where we are as a culture when this happens to a stock? >> that's a great question there the a lot of power in this organization an line so 2 million people can get together and think it's funny

the gamestock stock is going up and acting the market like that. there are 20 million standing rocket emojis yelling go to the moon and the you know collective actions here really put a thumb on the scale and puts things in the reaction that is quite unexpected >> one thing i have to ask, kate, in all of your reporting on this is what happens now. you know, you mentioned various other examples of a stock that has been brought up in a similar fashion. but what is happening with gamestop does seem difficult it seems perhaps like a tipping point when you add in all this harassment around it what's going to end this >> there is a couple different theories i spoke to a finance professor from georgetown this morning who said the sec likes to look into things that makes headlines. gamestop, all of these got the

attention of the media and the broader financial world and as far as what the sec will do. it has to do with whether or not they are moving these stocks they will likely look at who is buying and selling and it's some sort of momentous event where they are spreading it on reddit. if you can prove that, that is where the issue will lie and if the sec will look into it. they all say this will be a business school case study at some point down the road >> all right there is no doubt about that and cecilia, i mean, i don't know if your beat, is i think your beat is gaming, really, which is sort of poetic. because we are basically seeing because of so much liquidity, excess savings, everything we have been through in the year, this co-mingling of the stockmarket as a game is something culturally important >> yes, it is. a lot of people argue the robinhood for example to trade

in self stocks and robinhood, you know, it has its head on choose your own adventure. there is also the identification of trading options it's very accessible now and i think the capex crashed yesterday. i can't say whether that was trading with gamestop. but i think it's a very interesting correlation. >> right yeah well, it's a lot different when the word "game over" come across your screen when are you playing a game versus when you look at your robinhood account you will see how many lessons are learned over time. it's a good piece, kate, always good to see you. thanks >> thank you >> thanks, fred. and legend is an overused term we do have an actual rare silicon legend he wants to do away with your passwords. webmd co-founder jim crkla is with us next to explain.

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weeknights 7:00 p.m. eastern cnbc. watch etsy up as much as 6% earlier, in part, because of a boost from elon musk over twitter. although, that stock has come way back down this morning now it's down more than half a percent. musk tweeted, quote, i kind of lovettcy after he bought some marvin the martian gear. stock in today's trade consumer ends up. a lot more "squawk alley" is still ahead. so stay with us.

welcome back, everybody. i'm sue herrera. here is your cnbc news update at this hour. president biden will update his racial equality this afternoon the exec siv actions will include police and prison reform. in alabama one person died and 17 in the hospital after a tornado ripped through the suburbs of birmingham. officials say the path stretched for 10 miles california officials say the state paid at least $11 billion in fraudulent unemployment benefits last year and another $20 billion worth are questionable if those are found to be

fraudulent as well, more than a quarter of all payments have gone to people who didn't qualify for them. and for the first time in nba history, two female referees efficiented the same game. it happened at the hornet's magic game they had a full rest since 1997. currently the league has five women on the roster ofreferees you are up to date that's the news update i'll send it back to you. >> thank you. now, our next two guests want to rid you of your many passwords and infinite characters you want to add on with security updates, today announcing beyond identity will offer passwordless identity platforms free of charge to companies. with us is netscape co-founder jim clark and co-founder and chairman of beyond identity and perkins partner tom journalic the ceo of the company

guys, welcome. jim, so this announcement beyond identity free to companies i know that you gong this sort of free-to-try route before. i'm thinking of netscape here. what itself the business model >> well, the business model is that everyone needs this everyone wants to get rid of passwords and we have lots of other offerings and revenue generating so we thought making this free would get rid of all of the friction for adoption. that's the primary reason. >> tell me about where we are in the stage of the internet. because you were a key player in probably the most important event of it consumerization. the popularization of the web browser with netscape. now we find ourselves. we are hearing about this fraud that is happening in the system. there have been all of these attacks, solar wind, recently, it's hard to ferret out what the truth is online, harder than

ever where are we and what's needed >> well, we are done largely all the way. but, you know, this password thing has been a pain for everyone there is not a person in the world who wouldn't like to get rid of all their passwords so that's the mission we set out to do. we basically took the technology that was event at netscape and made it available for consumers. you know, it's been there for websites forever that itself what that little lock means up in the https web address. >> right. >> and so we just decided to make it available for ordinary consumers and figured out a way to do it. >> now, tom, are you the ceo of beyond identity and you and jim have been partners in business for a long time now. there's got to be a challenge here even though passwords, you know, everybody kind of hates them we are kind of used to them. so it's going to be quite a leap

for people for businesses to give up passwords and let beyond ididn't -- identity in? >> we have been working together for years on this. this problem of passwords has been around sense the beginning of the internet. i liken if i can do a simple comparison with covid, i know, passwords are a virus. it's how you spread that from company to company solar wind happen because somebody took a password from one site and used it to break into another site. went past them checked in malware and then that went back out the other way. if you had a technology to eliminate the passwords from the beginning, you wouldn't have had that surface attack area from the start. and so, all of these other technologies, you know, password managers and mna technologies, they only exist because the initial following exists

the password if you done have a password, you don't need all those other layers of user friction and complexity that's why we set out to say you know websites don't talk with passwords to each other. let's go back and use that technology, expand it out. it's a known technology, extend it out to end users and make them passwordless as well. >> tom, i am one of those people, remember so many passwords as constantly having to change them if i don't get them right my question is, how does this offering play into what's happening now as more consumers work from home and you also have companies trying to manage that heightened security risk with their employees so much more dispersed? >> that's exactly why we are doing this free for companies today. when all of a sudden they thrust into it, many companies had a plan over the next year, next three years, next five years, we'll move our work force remotely but when suddenly the next week because of covid everybody shut their officers and had to move

down suddenly they are having to go out and buy vpns, all these technology, they spent a lot of money on it. they didn't know how to implement it it caused user friction for them and it opened the doors to these attacks, solar winds attacks, ransomware attacks have gone up exponentially. so we made a decision as a company we will give these out for free to these other corporations that have been struggling with it, allow them to shut the door on all those passwordless access without all these other technologies they get back to what thigh need to and upping the productivity of their people. you don't want to just because they're remote for them not to routinely get in and access their applications and the data on the corporate site. >> certainly, you know, productivity more important now than ever. tom, i am wondering with all of this in mind, the fact that people are working from home,

does it make it a harder time to roll out this kind of dramatic change in how employees work >> well, the nice part about our system is it takes them ten minutes to turn it on. there is no code changes, no changes to their end points. no changes to their servers. they simply flip the switch and turn it on they the turn it on for one user or ten or 100,000. we had a great company in silicon valley, flow flake the recent ipo, they turned it on for one week for their employees and external contractors. they love the system it's very easy without going through these other code changes. remember, we are taking something that has existed for 25 years every time you log on to amazon and buy something, it goes to paypal to pay for it it uses this technology without a passionword. why not let you use it without a password as well why only limit that to corporate-to-corporate networks. >> jim, you have been in this

entrepreneurial game for a while now. you seen an era or two or three or four. is it harder to get a revolutionary idea started now or is it easier? >> i don't think it's any harder or any easier. it's just different. a lot more people understand what's going on, certainly, with the internet and 25 years ago, but, the other side of it that's come with that is all of these extraneous, i call them patches. patchs to the password problem you know, there's multi-factor you a authentication countless variations on that and that mucks up the system and makes it harder. so you have to teach people, reteach them how to throw away all of it and effectively use a credential, a new credential, a public certificate as your password, in effect, is what you do and that's a bit of an education

process. it's really no different i think when netscape started, it was a lot more in the air you know, the internet was new and miami were excited and there is that difference but i think everyone right now is just frustrated beyond belief with the nature opassword >> i am wondering what advice you would give to this incoming biden administration when it comes to fostering activity coimportant coming out of this pock recession that we've had and technology policy in the face of some of the very issues around security that we have been talking about this morning? >> well, the first thing i'd advise them to do is don't make, don't make it difficult for people to start companies. when you restrict or change the

rules on long-term capital gains, you take away an entire class of potential investors in these start-ups. so there is a lot move little subtle things like that that need debated that they need to be careful of, especially with regard to discouraging start-ups, discouraging the investment of start-ups and capital gains tax changes would do that. other than that, i this i they are pretty on target i think the problem is, the country has essentially been ignoring technology, ignoring science. for about four years it seems like every time the adminstration changes, a different posture on as soon as comes about. so, i think they're on the right track on that. they certainly respect science and that's an important aspect of governing the country. >> i want to bring tom back in here for a moment, too tom, i wonder your take on the challenge from china and not

just in a sort of country versus country and ideology versus ideology sense though, that is important. also, the technology capability and the consumer design capability that china has been able to build over the last decade, a decade ago, people were saying, oh, china will never be able to build a consumer act, the society, the culture isn't built if such a way, blah, blah, blah. we got tick knock now. so much else coming out of chinese entrepreneurs. what itself the challenge there? >> tiktok, ali pay yes, they have definitely been in the leadership position in a lot of these sort of ecommerce and online capabilities and it is a challenge for america to stay ahead but it starts with things like education, with keeping our borders opened for having the best and brightest around the world to be ability come to our country and to stay in our

education system and participate in our entrepreneurial system as well as jim mentioned about capital gains, the other thing is our policy towards being inclusive we have to know that our technology needs to be accepted around the world and we have to be willing to take fresh blood in from around the world and export those technologies and knowledges and make sure that we are doing it in a way that europe likes, that asia likes, et cetera, roll it out so we can't be ethno-centric to how we are deploying it, i definitely think independent of the state challenges that are coming from china, russia, north korea. there is a good side of that in that we can be opened to and inclusive in that will make them feel less isolated. >> finally, jim, tell me about california you were born, grew up in texas, had such a kind of storied

career path before you ended up really finding your fortune in california, but that state certainly experiencing an exodus right now. questions about policies there and how welcoming it is to entrepreneurial activity what does california need to change >> that's a hard one you know, it's a beautiful state. it's a beautiful environment out there. although, climate change is making it a lot drier and more prone to be forced into fires. but, it's a great state. it's just got an extremely high tax rate and, frankly, i moved because of that so i was prescient 20 years ago in moving away and i moved away explicitly because of the high tax rate i think that's what's driving a lot of people away today so the state has got to figure out a way to tax people equitably. it needs to i think, you know, i think it was prop 21, what was it

proposition that restricted property taxes from growing more than a certain amount per year. >> prop 13 yeah >> prop 13 those are very constraining things and businesses and people ultimately drive other people away you got a lot of people in papalo alto it's difficult for stanford to recruit people because of house him. the culture of silicon valley, i'm here i got it you are not allowed in i don't think it will, who over the long term, the valley will continue to lose lots and lots of people and you know the real estate pricing in san francisco i think is the most expensive city in the world now. these things ultimately drive people away. so it's really important for the state to address those kind of things it requires some innovative thinking. >> well, there should be no shortage of innovative thinking

in california. and you guys have certainly shown that jim, tom, thank you. beyond identity, doing away with passwords is the company >> thank you >> thank you. vimeo announcing a new round doubling its planned spin-off in ipo. the ceo joins us exclusively next so stay with us.

. watch over stocks today, overstock plans to convert watching assets to a limited partnership fund a big gain in the last year. now up 900% since then there is a lot more "squawk alley" after the break stay with us

vimeo announces $300 million round of financing doubling that company's valuation to $6 billion. this comes ahead of its planned spin-off from ioc and coming

ipo, which is expected in the next three months. with us in an exclusive is the ceo of vimeo >> thank you, it's great to be here. >> so it seems unusual to raise this much financing so close to a planned ipo. what's thehere. >> >> what's the strategy here? >> we weren't intending to raise additional capital, but we found a great opportunity with investors who share our vision for the future of video, the future of vimeo, and i have a long-term view and attractive terms and look, we think the market's big we have lots of opportunities to invest in growth, and so we just decided to take advantage now as well as ultimately in the future to have an opportunity to take advantage of markets >> anjali, you really pivoted this company to focus not on consumers, but on the enterprise what are you going to be doing with this financing? how are you going to be investing in growth? >> look, we're very focused on

empowering every business of every size to use video, to communicate with their customers and to communicate with their teams internally and so we'll be investing in product, rnd and innovation we'll be expanding our team, sales and marking and looking for other opportunities, but really we see this market as over $70 billion in the next few years. every professional, every team, every organization using video and we think we can build a solution that really lowers the barriers for many more people. >> i mean, obviously, the big unknown is the degree to which we see some kind of deceleration in video, hosting, sharing, services at this point it is hard to find anybody who thinks that we'll completely undo the crazy effects of the past year. >> i think we've all witnessed the need for video over the last

year and there's no question that the pandemic has accelerated the demand, but it's demand we always expected to see and i see companies using us to train their store associates around the world or their customer support reps and sales teams. that's not going to go away. i see fitness studios and gyms who are going from reaching hundreds of customers to hundreds of thousands by livestreaming their classes and we expect they'll go to a hybrid approach when the world returns. all these small businesses out there, they'll always have websites and social media accounts and they'll engage with their customers on their platforms and it performs better than text. so, yeah, we don't obviously believe in video we believe the pandemic has accelerated the demand and it has by no means changed the market opportunity that we have been building towards for the last few years. >> hi, anjeli.

it's john ford how deep into business video will you go strategically because during this pandemic period yves seen so many companies cobbeling together with video solutions with vimeo as a part of it, with the platform with vimeo connected and hot pick bought stream yard for a quarter of a million dollars trying to fill out this idea of getting multiple people talking on a platform. vimeo, arguably has an apartment to sort of integrate these disparate video solutions out there. is that part of your vision or no >> yeah. look, we've always approached the market believing that companies need an all in one video solution across their needs, across departments and all of the different ways they use video. you look at the breadth of vimeo solution today, and it is the broadest in the market we acquired a company called live stream in 2015 that was the leader in professional live

streaming and we use that technology today to power everything from town halls and conferences in quality so do i think that in the long term customers and businesses will demand one simple, single solution absolutely do i think vimeo is well positioned with a good head start in having the breath of the products absolutely and so certainly expect additional competition in the future, but again, people well positioned with the product, with the intellectual property and innovation and now with the capital to go after that >> anjali, tell us about how you're working with companies such as shopify and godaddy to have your tools embedded in there. do you think that will end up driving more customer acquisition in the next couple of quarters? >> yes we have sort of approached partnerships with the view that every business needs to use

video and we need to make it easier for them and one way to make it easier for them is to give them access to the power of vimeo on other platforms wherever they are, and so we have partnered with platforms like shopify, like godaddy and others we will be announcing additional partnerships soon and the idea is that we will look to natively integrate parts of our offering into these platforms where businesses are operating, and then have a relationship where they will join vimeo to access more advanced tools and we do think that could be a viable and scalable customer acquisition strategy and more importantly, it just opens up the market by making video more acceptable to all of these different businesses >> and what about this part of your business does video create for small and medium businesses? what's the opportunity there and i think about that in the context of us getting earnings from facebook later this week. how much are you creating the kind of content that these

companies are then sharing on social platforms >> if you talk to most small businesses and entrepreneurs and even marketing teams, the biggest barrier for them is actually producing high quality content. previously, making a professional video would cost you thousands of dollars and it would take weeks and you'd need a crew, of freelancers and editing rooms and we basically try to take that complexity and really boil it down into a single mobile app called vimeo create and it enables everyone to produce videos in a matter of minutes or in a matter of clicks on the phone we provide templates and we provide licensed footage, music and we use artificial intelligence to make the process much easier and that's really designed to solve that barrier so that once you can produce the content it is much more easy to create videos for your instagram kts or for your website or for

your customer support. >> certainly, a lot of different types of enterprise. anjali, thanks for joining us and we hope you willalk tto us soon "halftime" starts next competition beat us, again. how? they have a better finance system than we do. i feel like they might have a better finance system 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.

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report." i'm scott wapner big tech, microsoft, apple, facebook all reporting earnings in the hours and day as ahead. we'll discuss and debate how much is riding on what happens the investment committee here as also joining me is josh brown, shannon sakosh is here chief investment officer at boston public wealth. go to the wall and where we are with markets we are low, all slightly across the board and you may call it the great wait as we have the tech report coming after the bell with microsoft. here we go this is what we've been waiting for, huge week, huge report starting on microsoft. what's riding on all of this >> yeah. my only exposure to microsoft unfrptsly is through index etfs, and that's probably if it's not the best stock in the world right now it's definitely one of them it took a while, conso