hit so those programs are important, main street will continue to need aid many say that the ppp money that's there may run out it is important and i think oversight is important as well we'll see what happens back over to you. >> kate rogers, great work thank you. that will do it for us on "squawk on the street. "techcheck" starts right now ♪ good friday morning and welcome to "techcheck. i'm deirdre bosa with carl quintanilla and jon fortt. a big show to close out our very first week trouble in the listing market. coinbase, the largest spac ever and a few under water ipos signs of euphoria or the air coming out of a bubble. an exclusive with airbnb ceo

brian chesky one of the more remarkable business stories of the pandemic we'll get his take on business and crypto too looking ahead to a big week for apple, why loyalty is everything in tech right now. in the meantime big story, of course, the market s&p, another all-time high. same story for the dow above 34k. zeroing in on technology, also setting some records up 8% for the month. cisco at the top of the indices and nvidia up as well. it's interesting the market having to take stock of the reopening and at least for now, some of the under performers on the nasdaq will be names like peloton and workday as we put more faith in the opening of the economy. >> some of the big tech names lost momentum this year, but we've got earnings season kicking off and the five mega cap tech companies expected to

post combined revenue of just under $300 billion if you ever needed a reminder of just how big they've become. >> we've had some pretty big debuts, too, in tech some disappointment mixed in this week. the world's biggest spac deal planning on taking grab public but the shares tepid since that announcement crypto exchange coinbase popped in the first trade opening 50% higher than its reference price only to settle lower, still $85 billion market cap, though then one of the biggest ipos of the year closed more than 81% lower yesterday. what's the playbook for the public markets and mean for tech darlings like robinhood which face headwinds from potential regulation that's where we'll start with jason, tech investor, inside.com founder robinhood, angel i remember what was it a year, year and a half ago, bill gurley was gathering with investors in silicon valley saying, direct listings are it. they're for everyone and the future

i mean, that's not what's happened here. is it a better public debut and ipo market than it was, though >> well, i mean, we had an ipo window that was closed for a decade, and the idea that the company went public during the 2010 period wasn't even on the table and we weren't talking about it in silicon valley they've been at this a couple decades, and we now have this opportunity for companies to go public and we have opportunities for companies to raise money and what a savvy founder does and board of directors does, when the market is hot raise capital and you deploy it when the market is not hot, right so the smart move is really to raise money now and deploy it whenever there's a pullback and those dollars could be worth two or three in the future we saw it in the dotcom bust and in 2008. we're at a peak market and it's going to correct at some point the smart move is to get public

now and ride it out. now that we have two choices, direc direct listings and spac that's helpful. >> i see companies coming public through spac, the smaller companies, grab is an exception, a couple other exceptions, but the type that 20 years ago we saw coming public early in their life aordinary investors had a chance to make a good buy. jeff bezos was touting in his letter the couple bought it early. there's some good opportunities? >> absolutely. and, you know, people are looking for some kind of alpha, some kind of return. people want to get big returns people are not interested in making 7 or 10% a year people want to make 7 or 10% a day, a week we've kind of lost the script here and so you have people investing in anything like dogecoin, coinbitcoin, spa

like how many times does that brand need to fail for people to not buy the stock. i'm not doigging on them. there is a cohort of electric vehicle companies two decades behind tesla and now ford and gm and everybody catching up there, so, you know, buyer beware, do your research. if you want to play in the private market game, in over valued spacs and many of them are over valued, you better be in it for the long haul and do your research. now if you're buying netflix or buying disney and they have a quarter million people subscribing to their service, you know, you can feel more secure this is the great education that has to occur and that's part of what cnbc and, you know, these online discussions, this is why they're so important it's for us to say netflix and disney are different than fis ker and nicola it's very, very different. when a company does not have a product in market, and they become worth billions of dollars

like this company, i always save this t-shirt, it could be a fraud, a zero, incompetence or maybe there's a chance that you happen to hit lightning in a bottle >> right some key differences right between the traditional ipo and the spac so jason, for spacs, who is doing the due diligence or who should be? >> i mean, obviously anybody who buys the shares and anybody involve in the company or involved in the deal should be doing diligence. everybody from a retail investor to the promoter -- >> what about the -- >> the promoters are super responsible. so -- >> but, jason if they -- >> hold on, you asked me a question, let me finish the answer if you're looking at somebody like chamost, active, and at the top of his game and we're besties, so take it for what it's worth, there's somebody be that will work on this for 20 years. you have people who are retired -- >> but he's not -- >> those people are very

different. >> okay. but jason, you bring up chewmass, and he was a sponsor >> yep. >> he did a lot of due diligence but he's also selling shares the person doing due diligence is the one selling isn't there a conflict of interest there do you think there needs to be a longer lockup period you say he's in it for the long lun. >> i think it depends on the company and all of this is public information right. >> we're talking about virgin glak tick and you saw richard branson do the same thing. >> if you see a company where people are selling you have to dig in and why they're selling or bullish on it or not and things have changed. goldman is taking companies out, morgan stanley is taking companies out. everybody is going to take companies out. it's a great idea for people to have to hold for a period of time sure. that's part of the push and pull in the ecosystem me, as an early stage investor, i really hold my positions for 10, 20 years and so people who

want to be in lp in my funds or work with me know i have that philosophy other folks bring things to market and up to you to determine if you want to be in this the things that get me concerned is obviously not chewmot not selling his virgin position because he's doing so many other deals. i would be concerned about a celebrity or retired person coming out of retirement to get the one last payday on a company that doesn't have a real product or doesn't have customers. but it is your responsibility. >> jason -- >> i know talking about personal responsibility is something we don't do anymore but if you're buying bitcoin or dogecoin or spacs it's your responsibility like your responsibility if you go to vegas and you put it on black or red on the roulette table. >> it's a great point. we're here to help you understand but don't want to be in the business of being a baby sitter i don't do want to ask you, coinbase was another example where viewers wrote in and said here we go again, a name i would have loved to have gotten into

earlier. instead i have to watch it pop $100 at the open and it's too expensive for me talk about risk tolls rence. >> i had this conversation with someone close to me, if you love the company and were going to allocate $10,000 and you're passionate and believe you're going to hold it for a decade or two, dollar cost average you could buys it three or four times over the next year we know the things are volatility uber, from $15 up to 60. this is a pretty volatile market and if you believe in the company and believe in management, slowly get into the company. you look at something like coinbase, brian armstrong is the real deal and been an advocate and made crypto currency easy for people and done a tremendous job there. but keep in mind, that there was a perfect storm for coinbase stimulus checks being dropped everywhere, people not being able to bet on sports and pandemic where nobody could go

out and spend money on a vacation that's all going to reverse, right, so now we're going to have the opening, people are not going to be spending their money on crypto as much as maybe going to coachella and that crypto to coachella transition could be bumpy for them i think there's a chance they will be google of crypto is my belief. >> i keep hearing that and i push back with how do we know they're not the ya hoo! or aol. you're an investor in robinhood too. seems to me that part of the robinhood narrative is the retail investor doesn't like fees, easy access is good, the competition is good. but at the same time you've got coinbase that's got some pretty high fees and the argument is that somehow they're going to be able to maintain that and maintain the margin. can both be true or is there going to be this difficult period where coinbase is probably getting hit on those fees decreasing from competition

and maybe it's not clear yet what platforms they're going to build on from the future >> there's two parts to that question one is like the cult of imaginary money an can that sustain itself is it a giant ponzi scheme as some believe or is it the future let's put that question aside. to your point of is it yahoo! or google, is it tesla or fisker, i think as long as brian is in the pilot seat, this is a google, this is a company like facebook, with zuckerberg, you have the founder authority. you mentioned aol and yahoo! when they took steve case out and jerry yang, those companies were run by professional managers who ran them into the ground and, you know, i think yahoo! had five ceos in six years or something and staying like that. i look for the founder authority. i think that's the big tell. if you have a founder running the company, steve jobs, you know, he leaves, comes back, you see the correlation. as long as brian is running the company i would be confident in

it i think there's two games being played here simultaneously there are people who have been in the markets and we look at them as like this, you know, beautiful cathedral with rules and decorum and a process and i think cnbc and the venture community and private equity, we all kind of fall into that bucket and then people who look at this as betting and recreation and they are playing a meta game and look at shorting stocks and coming over the top and gamestop and dogecoin, this is all a big joke and fun to them and it's gambling they'rebetting on sports, in a casino having drinks and fun and we're taking it seriously for our retirement these two things are happening at the same time which is why there's this confusion >> jason, that's a great way of breaking it down i give you credit for that one anything more representative of that betting recreational sort of fun side of gambling or playing the market than dogecoin we've seen this enormous spike this week. are there people who aren't understanding the joke, whether

that be on the institutional side who could see this as part of a problem with the wider system or the retail investor side that think it's an actual investment >> i have been on cnbc with you sounding the alarm asking people to please be careful, to keep 1% or 2% of their net worth in these things, not 90%. we have pump on a bitcoin maximalist, has 98% of his net worth in bitcoin in one crypto currency, my message for those folks, buy your house, put the maximum amount into your 529 and get your kids education paid for and then, you know, make this half or a third or 10% of what you're doing but, you know, you can't stop people from doing what they want to do. this is a free economy you get to place bets if you want part of the fun they're having is watching us react to this they love the fact that we're sitting here going why would you buy amc, gamestop, these

companies are dying, make no sense. they like that now amc is going to raise a bunch of money and gamestop might figure this out so now it's become this crazy cult religion and they're empowered so what are they going to do next bring back the palm pilot? it's getting crazy. >> hey, it could happen. and never said ittens would work just said recognize the risk that's the butte eauty of the m. if you see the chance you can take it and you always keep it 100. love that. love to have you >> buy disney. please own some disney it's not going anywhere. >> yeah. >> captain america will be here in 50 years. >> says the investor you do your share of risk as well. >> yeah. my pleasure. thanks, everybody. today's crowd source we're asking a question about your portfolio, s&p up 11% this year, better than some of the f.a.a.n.g. names like amazon, apple, netflix, are any of those stocks necessarily in trouble?

tweet us@cnbctechcheck and let us know what you think. up next, an exclusive ir inter view with airbnb's brian chesky. >> i think it's safe to say that winter is now over we are working our hardest to get ready for the travel season. if winter is over what will spring bring if we are just getting started here on "techcheck." ♪ ♪

let's get a check on splunk here the biggest laggered down about 20% year to date cto resigns late yesterday, stock downgraded over at key you can see shares down this morning about a two-week low here we'll keep our eye on that carl, airbnb ceo brian chesky says the winter for travel is over and they are preparing for a summer surge, especially among the vaccinated. one problem, though, potential problem, will they have enough supply to meet demand? i talked to chesky exclusively about what he is seeing and how he's getting ready for a reopening.

>> i think it's safe to say that winter is now over it's pretty crazy to think one year ago, wehad seen a precipitous drop in our business, about 80%, in about eight weeks. now we're starting to see a really big rebound and what we're seeing is, when people are vaccinated, they're traveling again. so to give you a sense, seniors, people over the age of 60, on airbnb, searches for summer travel memorial day weekend are up 60% between february and march. we're starting to see people want to travel, it's the out of home activity they miss the most when they can travel they do the other thing we're seeing is people aren't going to the same places they used to. airbnb, we're very much known to be an urban brand. you use airbnb to stay in cities now a lot of our growth is in rural areas, small towns, and even entry points of national parks. so, for example, our searches in the last month for rural

destinations is up 40% those are some of the things we're seeing i think once it reopens, cities will come back it's not going to be a shift back to cities it's going to be a redistribution where people are going from traveling to 100 cities to truly traveling everywhere. >> what i'm hearing from you is that demand is certainly recovering, but what about supply we've seen this with ride sharing and rental cars, other opening up industries. your listings, is that meeting demand and how are you making sure that hosts stay on airbnb or come on airbnb, particularly when your rifles like expedia are offering incentives to get them on their platforms? >> we will probably have a high cost problem where there will probably be more guests coming to airbnb than we will have hosts for. we think there's going to be a travel rebound coming that's unlike anything we've ever seen. so we are working our very, very hardest to get ready for the travel season. we've just done a global host campaign -- a global ad campaign

called made possible by host, which is not just a way to promote more people traveling to airbnb, but i think it's going to work really well to attract more people to become host of airbnb as well. >> you mentioned that global marketing campaign that costs money, right? in the past you said a lot of your hosts come to the platform organically. is that changing at all? do you expect to spend more money on marketing to get those hosts on the platform this year? >> i mean, we are -- we are never going to spend the amount of money on marketing as a percentage of revenue as we did before the pandemic. because one of the things that happened is when travel stopped, we cut off almost all of our marketing. something remarkable happened last year. our traffic, even before marketing, got to 95% of the traffic from the year prior. i think what that revealed is our brand is strong and we don't have to spend that much money in marketing as we used to. >> the market has changed a little bit, but your competitors are getting aggressive with

incentives are you guys willing to spend more do you put profitability plans, push them out a little bit in order to make sure you have enough supply to meet the demand you're expecting to see this year >> i think we are the leader of this category and i think that we will retain that leadership position and it's just a matter of doing investments, but i don't think you need to -- we will anticipate doing a lot of incentives because, you know, i think we have a huge amount of demand for the service already. >> so you haven't seen any evidence of this going from your platform to others >> we're the only platform that is custom built for everyday people to become hosts on the platform really individuals. and so no, we're seeing actually increased strength of our host community. >> once we see reopening and people start to travel again and perhaps want more traditional forms of travel, do some of airbnb's broader ambitions prepandemic like hotels and real estate projects, do those get picked back up >> well, i mean, i think as

travel recovers, there are in this that we scaled back that we can resume to be clear with hotels, a couple -- a few years ago we really started getting more serious about this and then more recently we acquired hotel tonight, one of the most loved hotel booking apps in the united states we are going to continue to invest in that product and one of the big trends we're seeing is the decline of business travel >> i remember talking to you a few years ago and you guys were actually developing sort of your own hotel in the middle of manhattan. >> yeah. >> plans like that, your own developments, do you see that in the future could those be resumed >> not in the near future. never say never. we think there's so many opportunities as we continue to grow but one of the things that's been revealing is the power of the global network of airbnb and so, you know, just developing real estate projects is really interesting, but again, we have 4 million hosts

to meet the demand over the coming years we're going to need millions more hosts. i think the innetwork based mod we have and allow people to become hosts themselves in communities all over the world is going to be the most scalable model for us >> you continued to sees the average length of airbnb stays continue to lengthen what is the average right now? >> i don't think we're going to probably disclose that right now, but, you know, in coming earnings reports i will be interested in sharing some of the trends we're seeing. what i can certainly say is that we have seen as consistent increase in the length of stay on airbnb over the last five years. a world of more flexibility is a world where people will be traveling more and longer and i think that's why people like staying in homes the longer you're away from home you want to be in a home you have a comfort. >> at the same time you have some very big companies in tech,

nonetheless, like google and uber, saying that their workforce needs to actually live close to the office, so that idea of a flexible workforce is kind of being scaled back, don't you think, as we approach a reopening. does that make you sort of adjust your expectations and what you just talked about, a workforce able to travel so freely maybe not going to be that free? >> well no, i think it's going to be pretty free. i don't think very many tech companies have said that they are anticipating people going back -- >> google is massive and said you have to live close to the office or apply if it's going to be more than 14 days that's a big company. >> what i don't think we'll see is at most of these companies, people going backs to the office five days a week flexibility is a sign of the future any company that is not flexible is probably going to lose out on talent i don't think the companies are going to be dictating this i think the talent market will be dictating if you can't get the best

engineers and best people you're going to probably have to adapt your policy. >> you haven't worked out the exact policy but have you thought about your real estate footprint in san francisco if you are aiming to give your workforce more flexibility do you need all that space that you have right now in san francisco? >> i mean, we are staying in san francisco. i live here in san francisco i loves the city and i love this state. we wouldn't have -- our success wouldn't have been possible without this number one, we are staying in san francisco. number -- >> you're not going to miami >> we are not going to -- i'm not going to miami some employees might be. i will be here >> okay. >> so yeah i think, you know, we are absolutely retaining our office footprint here in san francisco. i think all companies aren't going to need as much real estate because i think a lot of us are realizing we can move towards a shared model where you don't need a dedicated desk. if you do that you don't need as much of a footprint. people aren't always going to be

in the office five days a week i think we will have less real estate years from now than today but that doesn't mean we're uprooting from san francisco this is a root for me and this company and it's going to be an important place. >> so carl and jon, we covered a lot of ground there but one of the things things was that issue of supply, that is coming up more and more among sharing economy companies. we talked about it with the uber ceo this week. he's providing incentives, list doing the same, airbnb has spent money on a marketing campaign. chesky called it a high cost problem and it is increasingly becoming one that i wonder if wall street has baked in it's also remarkable, guys, jon, what chesky has done with the airbnb brand we saw from that s-1 that 90% of bookings come to the website organically, does that give it a leg up for its hosts as well as other hotels, otas to copy that

home sharing model. >> that was the thing from your interview with him that's going to stick with me is the idea that even though we knew airbnb's brand was strong, right, people start there, they don't have to pay as much for search engine marketing, spending as much on sales and marketing, 35% of revenue and didn't know that a bunch of it wasn't necessary until the pandemic hit, that their brand was strong enough and loyalty, we'll talk about that, was strong enough they didn't have to spend so much >> yeah. you know, that idea of loyalty, you're right, but competition, carl, has also increased we have that story a few weeks ago about expedia providing incentives to lure away the airbnb super hosts something that chesky said is that they have to continue to work on that loyalty and that is why you are seeing those -- them having to spend money even though he said many times that they haven't needed to do a lot of that, hosts come on their

own. they're starting to do that. how does that affect the cost picture? >> yeah. interesting to hear him talk about san francisco, given the fact that the company literally got its start by helping people visit san francisco. jon, also interesting to hear him talk about corporate travel. we heard from delta earlier in the week and they see 80% of corporate travel coming back in the next couple years. sounds like chesky may be a touch less optimistic than that. >> yeah. which i guess makes sense because that's not his bread and butter i'm starting to make plans to travel again we're going to have more from deirdre's great interview with brian chesky on how he sees crypto currency later this hour. julia boorstin is with us live from universal hollywood julia? >> jon, i'm back out in the field and this opening of universal hollywood is a turning point for the opening of the california economy i'll break down what universal

hollywood means for the media giants that own theme parks as well as the state after the break. ♪ ♪ ♪ ♪ ♪

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coventry direct, redefining insurance. hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? get a quote in 3 minutes at easyaspie.com. wow, that is easy. so, need another reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com.

welcome back to "techcheck" on cnbc. i'm carl quintanilla with jon fortt and deirdre bosa we did get a record high on the dow and the s&p at the open. pretty tight range today nasdaq marginally lower as well as f.a.a.n.g we're going to keep our eye on that in the meantime get a news update with rahel solomon. >> good morning. good morning, everyone the ceo of fedex sending his deepest sympathies to the family and coworkers of eight employees killed in indianapolis law enforcement officials have not identified the suspect and the fbi says it's still too early to speculate on the shooter's motive. meanwhile, consumer sentiment has risen to a one-year high but the index from the university of michigan also falls short of estimates inflation concerns are on the rise survey respondents say they

expect inflation to hit 3.7% over the next year. morgan stanley joining other major banks in posting an earnings beat despite losing nearly a billion dollars and the collapse of archegos capital china's economy roaring back to life in the first three months of the year the country's gdp shot up 18%, slightly less than expected. also expected to cool later in the year but jon, back here stateside, lots of encouraging news this week in the data front back to you. >> yeah. that is a good thing, rahel. thank you. now something tech investors should focus on in the back half of the month the economics of loyalty we're expecting product news out of apple including i pad pros and every one of the launches is important because it drives a loyal ecosystem and part of the reason apples has been able to maintain margins at the same time amazon has its own loyalty power.

jeff bezos sent a letter this week saying prime customers up by 50 million worldwide in the pandemic and he's now targeting engendering the same kind of loyalty among employees. apple also in the headline over its app store battle with epic games, to testify on antitrust next wednesday epic maker of fortnite and other developers are pushing back on the fees that apple charges for in app purchases the tech giant responding saying those fees are standard across the industry and if developers don't like it they can have their product shopped for elsewhere, deirdre. >> testing the loyalty of some of the other ecosystems. twitter's unofficial mayor making headlines today listen to us on the go, download, subscribe and enjoy the "techcheck" podcast available wherever you get your

podcasts we're back in two minutes. the world around you may seem like an immovable, implacable place. it is not. it can be bright. quiet. and safe. it's a change that will be felt from this street. to this street. to no street. and everywhere in between. all it takes is the slightest push in just the right place and that will be the tipping point that changes everything.

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for a market that's been in

a tight range today the drop on pinterest is somewhat notable. down nearly 9% it's about a two-week low here julia boorstin has been looking into why hey, julia. >> yeah, carl, we're continuing to watch shares of pinterest down 8.5%, heavier than usual volume, as cleveland research is arguing there's a slowdown in spending from large retail spenders like walmart and target a slower pace of net new advertisers, but that again, is according to cleveland research. pinterest shares are on pace for their worst day in a month, but that stock still is up about 17% year to date deirdre? >> chrissy teigen, known as twitter's unofficial mayor, back on the platform after vowing to quit the site at the end of march citing cyber harassment. but now she says she's back shag

she will have to take the bad with the good. don't we all >> all right nice to have her back, we'll see for how long in the meantime there has been news on the chip sector. josh lipton has been looking into that. >> take a look at the smh, the etf that tracks the chips up about 15% so far this year currently trading right near its all-time highs despite that run it is on track to snap a five-week winning streak here. we caught up with susquehanna's chris roland, increasingly neutral on the sector as a whole. he tells me because of a growing supply demand imbalance, meaning his checks indicate that inventory is now building up with chip customers across the board from autos to equipment and that could be a problem down the line it means that these chip customers will be ordering less in the future. if you pop open the hood of the smh some of the laggards would include names like micron,

applied materials and intel, which is actually on track for the worst week since october, so what are some of the buys, though, that chip investors could be thinking about? chris roland is telling his clients three names, lieumentum, amd, a smart alternative to intel, and nvidia is the best bet on gaming in nai back to you. >> thank you, josh now to the break, universal hollywood welcoming back guests. julia boorstin is there and we'll take you there live. look at rbs saying the telehealth company remains their favorite disruptive idea shares are currently about flat, slightly lower we're back in two.

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universal hollywood finally opening its doors. julia boorstin is in universal city can you walk us through what the plan is today? >> well, carl, today at 10:00 a.m., the doors will open to the public all reservations had to be made in advance and the tickets from both yesterday when the park was open just to season pass holders and today through sunday are entirely sold out and have been for days so people will go through the security gates and they will get their temperature checked and then they will enter the park which is here behind me and there will be all sorts of means of social distancing, stickers on the ground saying to stay six

feet apart and mobile ordering they will want to make this experience as touchless as possible >> julia, of course you were the one that brought us the news first that disneyland would be reopening in april how do you think this additional move now fits into the overall scheme of theme parks in california >> well, look, carl, this is a really big moment for the california economy as you know, southern california has been hit so hard by the pandemic, both in terms of deaths and the terms of economic impact and theme parks are an important piece of the california economy theme parks, there are 49 theme and water parks in the state that employ 135,000 people in the state and generate $1.5 billion in tax revenue and also about $14 billion in terms of commerce for the state this is an important moment as people get out of their homes and, carl, it's worth noting seems like demand is very strong not just because they were sold out days hereat universal but

disney has not revealed anything specific about demand but i went online yesterday to see if i could book tickets and there was an hour plus wait just to get into the reservations area >> even foreig for an employee theme pasrks are system enhancements before there were streaming services to knit people to the brands in between movies there were these is it clear kind of where the parks in the streaming era fit into the strategy, the degree to which they will be able to weave technology in? >> well, look, they are definitely weaving technology in while the park was closed universal invested in its ride about the secret life of pets. if you remember that movie and sequel they have a ride that's going to be opening up this is the kind of thing that's super high tech and generates revenue for the park and draws in new people because it's a new attraction but also keeps that brand fresh in people's minds

between the different movies also sort of makes it more relevant if you think about streaming services and tune in to streaming services. the same thing is very much true for disney disney, which is opening on april 30th, will be opening its avengers campus, a section of the california adventure park in the summer and that is really going to be reminding people how much they love the surveys you marvel characters. but also, trying to get some of the characters that are featured on disney plus i think the idea is that these are great revenue generators when they're operating certainly at capacity and they're going to be operating profitably and said that's important to them, but also could be a crucial piece of the whole media strategy >> right julia, i am loving your live shot we should also note here that universal is owned by our parent company nbc universal. checking in on cisco, getting an upgrade from research to buy

price target to 63 the firm is bullish on its spending for the next quarter. plus, we have more from our interview with airbnb's brian chesky don't go anywhere. ♪ ♪ ♪ cisco. the bridge to possible.

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people need this symbol. where do we start? find the best in entertainment all in one place, with disney plus now on xfinity! a way better way to watch. brian armstrong before starting coinbase worked for airbnb he was one of our first engineers. he then became a product manager, and brian actually was one of the original architects

of our payment platform and our fraud detection system i'm really proud of what he is doing. i think that similar to bitcoin or cryptocurrency, i think one of the lessons here is when you give power to people it provides more economical empowerment and more access. in order to give more power to people, people have to be able to trust each other so you need a system of trust. obviously cryptocurrencies have had their own system of trust. airbnb, our system of trust based on our reputation system i think has been able to lock a lot of economics i think this is a -- i think these general trends of unlocking system of trust that allow more people to participate in the economy is a huge boon to the global economy as far as our plans, i don't have anything to announce right now but i can tell you we have been certainly looking at this now, key here, carl and jon, chesky and many other business leaders coming on cnbc, they're thinking and talking about crypto more than ever.

chesky's comments suggest he may be thinking about it less as an asset class but perhaps more the underlying technology, saying things like it is going to provide more economic empowerment and more access. >> yeah, carl. i wonder whether block chain is useful somehow as airbnb continues to evolve those systems he was talking about to root out fraud and make people trust the platform more, because a lot of times you really want to know is this place as nice as it looks, you know, is everything going to work out >> indeed, guys. fascinating. sort of the intersection of chesky and armstrong in what has been a big week for both companies. we will take a break here. it has been a big week for "techcheck" on the first week of the new show we will bring you up to eespd on some of the headlines in a minute

did you know that petco, is now a health and wellness company? their groomers work wonders for my confidence. i trust their vets, and i'm known to have trust issues. they deliver high quality food the same day. i was outside digging, what'd i miss? just everything regarding our physical, social,

and mental health. exciting. i'm gonna take a spin around the room. great idea. ♪ ♪ petco. the health and wellness company. time for our crowd source. we asked with the s&p up over 11% this year, far zwrout performing some faang names, are any of those stocks in trouble john stuffler says no way, faang is the buoy in today's sea of froth. joel weighs in saying netflix

will suffer as viewers step away from the screen. interesting because netflix was upgraded a couple of notches at moody's as some of the giants use the recovery to pay down debt. >> nice, yes now one more thing, and, yes, it is a steve jobs' reference just like that, week one of "techcheck" is in the books. here is a fun flashback. ♪ ♪ welcome to the premiere of "techcheck." >> welcome to "techcheck." >> let's talk about the week ahead. >> this week's biggest debut, besides ours, of course, is coinbase. >> it is great to see you. welcome. >> congratulations on the new show. >> intel ceo. >> great to be in on the inauguration of tech check. >> thank you for being here. >> thank you for having me. >> ron conway, thank you. >> thank you. >> congrats on the new show. >> thank you for having me. >> it is a pleasure to see you all. >> the very first coinbase

investor. >> here is what the ceo told me. >> that was rapid fire. >> back in the field. >> you, jason, always keep it 100. >> now, deidre, it technically wasn't live in the show but it was nice of satya nadella of micr microsoft. i was wondering, he is focused on foundry and building up chip and we were told first here, yes, absolutely we are staying in the driver's seat with mobileye. >> yeah, you know, i loved that video montage. a little bit of a humble brag for us because this week really went off without much of a hitch at all we had some really, really great voices we have to give a lot of credit to the people behind the scenes who made the show happen, for lining this all up, the graphics team to make a splash with something new here on cnbc, julia. we have lots more ahead which

will be really excite in we are only getting started here >> lots more ahead, deirdre. great interview with brian chesky i think that interview touched on so many of the themes we see as the technologies driving today's economy. i think what we're seeing now, and i said this earlier this week, is that every company is now a tech company we are going to see these trends, whether it is block chain, whether it is dispersed workforce or whether it is artificial intelligence really impacting everything about the way we work, the way we live and the way companies do business, carl. >> it is amazing to me, you know, guys we used to think that technology-themed show was highly specialized, it would be sort of self-contained but everything we do now is somehow related to tech, how we shop, how we pay for things, how we drive it is just amazing how you can tie anything to technology, and it makes it very easy to program something like this. by the way it also changes how

you watch television take a look at our qr code, something you can still scan and get additional digital content something we are very proud of, jon. as we look forward to next week, there will be loads of more news, whether it is earnings or certainly the apple event. >> yes, and every company is a tech company but every company is not a good tech company, right. so there's a key issue there not every company actually makes money off its technology one of the ones that does, maybe the most, is apple they've got that event next week on tuesday we are expecting ipads but it is an ecosystem story for apple as always in recent years there hasn't been a bigger ecosystem year than 2021 because of how they're trying to incorporate their own homegrown chips across their product line, not just in mobile, also in macs don't necessarily expect to hear from that next week, but, hey, carl, we might >> indeed, jon in fact, you know, we have to watch the chip shortage as well.

kansas city southern is on the tape today saying lower demand for oil and gas, drilling pipe and metals used for autos because of the chip shortage so technology definitely pervades every element of the american economy we appreciate you viewers tuning in this first week we look forward to many, many more have a good weekend. let's get to "the half." all right, carl. thanks so much welcome to "the halftime report." i'm scott wapner front and sender, the growth rebound. why it is leading again. whether the bounce is real joining me for the hour this friday are shannon, the chief investment officer at boston private wealth jason snipe. steve weiss, jon najarian. good to see everybody. let's check the markets as we always do. the dow coming off the first close above 34,000 for first time ever. s&p on the best winning street since august nasdaq 100 setting new records as well. the ten-year note yield, 158