school on a full-time basis. mom and dad can get back to work and the office on a full-time basis, but i suspect that they'll be much more of a hybrid approach and that working from home will always be an element, much bigger element going forward. >> stephen, always appreciate it thank you. >> thank you. that's going to do it for "squawk on the street. "techcheck" starts right now. ♪ good thursday morning. welcome to "techcheck. i'm carl quintanilla with jft jfrt and deirdre bosa. light at end of the tunnel jon fortt with me as well. work from home stocks. peloton, zoom, docusign cut back

to levels we saw last year is that ride over? that's up next. playter, a cnbc exclusively michael dell, this on "techcheck" and from general atlantic, in a few minutes as well jon? >> yep a couple of big tech name earnings as well uber shifting into reverse that's in just a bit and watch etsy slowing user growth. paypal in the green as online payment vol coupe continues to benefit bottom line and zynga, talking about that play as the ceo later in the hour, that stock also rises this morning. d? >> well, jon, start with uber. is it time to reconsider uber lyft asa abn opening space? the wall of worry growing. revenue hit by $600 million charge for uk driver reclassification losses, look better than they should have because of that $1.6

billion sale of the self-driving unit the company will have to spend more to get drivers back on the platform also warns that its delivery business could slow this year, and carl and jon, not one time issues but themes far from resolved and will determine uber's future profitprofitabili. seeing it play out in uber share prices barely holding on to gains for the year and over the last week, digital companies hit hard lyft, doordash, uber, so many questions that overhang these companies and the gig economy, jon? >> yeah. i think investors need to look back at to what really makes these technology companies in a way, the worst part of sort of the tough news that uber, shouldn't have been a surprise the worker cost. amazon's hiking worker pay right? just saw that in the last few days, but amazon's model can sustain that the aws cloud.

they've got robotics in warehouses they've been investing in uber and lyft, they don't have aws and sort of pivoted away from that driverless story, which they had been saying, carl, was close. so how good is their technology? and how much efficiency will that be able to drive the very really worker costs rises, i think, is the question >> fascinating a name on the macro front appeared to have optionality, the bulls said if recovery went well, great for rides. setbacks great for eats. you can see, the point on the sh shares, a mixed picture. bill ford of ga also with our leslie vicar hey there. >> as mentioned, great place to start. yeah, invested in uber recently sold position in uber. also other significant ipos in the last few years including

airbnb and six ipos this year alone, of portfolio companies. i wanted to get your take on the ipo market to kick things off. recently we've seen tremendous underperformance for ipos. the ipo etf down 4% today alone and over the last month underperforming the s&p. so do you think the ipo window is closing at this point in time >> i don't think so, leslie. i think we're seeing an ipo benefit right now. we've taken no more than six companies in our 41-year history. 6 public so far already in 2021, and as you read in the press, a number of others that are planning for ipos that are on file the reality i think, investors are excited about having access to the most interesting, innovative entrepreneurial growth companieses an interesting fact to talk about is that, it could be venturing investments to ipo

average about five, six years. in the last decade moved out to 10 to 12 years investers have real pent-up demand to the most exciting companies in the world. >> in response a lot of them have been developing for into growth equity. for example. you're seeing that world becoming more crowded with likes of hedge fund investors. you've got tiger, d1, co2 to name a few really into growth equity investing in a big way, bud also private equity firms getting into this. a different scale, different nan dait there and spacs providing capital to some of these same deems you'd look at. so how do you still see opportunity in the growth invests world? you've been doing this 40 years. $53 billion in assets in management, but with all the new entrants and growing entrants, how do you compete

>> well, i think came into real focus last year and this year as investors, private investors, public investors recognized growth innovation entrepreneurship would drive some of the most exciting investment opportunities in the world, and that did attract a number of new entrants into the investing market the same time our opportunity set is larger than its ever been we look at how the local entrepreneurship has become. look at the, right now, our research team tells us there's 600 global unicorns and almost half of outside of the u.s. in places like china. 125 eunicorns southeast asia and others the opportunity is much, much broader than ever and more investors, yes, looking at it, but no shortage of opportunity. >> talk about that global opportunity. maybe starting with china. because you had two very

prominent chinese investments that caught a tremendous amount of regulatory ire, should we call it, recently. bytedance. parent company of tiktok caught between china and the trump administration whether it needed to sell or risk the banning of downloads in the united states. and then, of course, ants group another investment thwarted plans to go public and more of a regulatory crackdown how it is overseeing this company. which has caused a lot of investors to trim their valuation of ant so my question, is the reward worth the headache when it comes to investing in china right now? >> i have to say, absolutely we're seeing tremendous innovation in china. quality of entrepreneurs and businesses, global aspirations of these firms are significant i think nip global investors would be making a big mistake not to pay attention to those opportunities.

we're fortunate to be investors in great companies bite dance should be the next great global company with heritage growing rapidly and in the short video market ant financial, really put electronic payments on the map half the market in china, and china is the most electronic of all markets around the world in terms of payments. two very, very exciting companies and the kind of innovation we see in china and why we're so excited about our business there. >> good morning. it's jon fortt covet your thoughts on the cost of labor, particularly in the u.s. and europe. how that factors into some of these models you're out of uber, i know, but certainly front and center in thinking after earnings. to what extent are you concerned in the differentabilities of

models and technology to offset labor costs? >> thanks, jon great question i would say this -- i think what we're seeing is digital business models driving real change, and in some places, augmenting labor and helping with labor shortages if you look at food, fashion, travel, entertainment. now even education and health care technology and technology-driven business models are having a huge impact and dealing with the issue of not enough people to really meet all the needs of these industries e easy specially with the recovery of the pandemic. >> bill, good morning. it's deirdre leslie mentioned you sold out of your uber position but first bought into the company when its founder was running the with it. did you think it would be more valuable by now? >> they've achieved so much.

ride-sharing market globally, think out of transportation had completely been reshaped everywhere in the world because of what uber started we saw that when we first made the investment and then introduced the whole food delivery business. a whole other area we're seeing benefit of i think we've achieved a lot of what we hoped we would achieve the market changed in many ways but on the other hand, reshaped transportation in every possible way. >> right, but did it become what you and others hoped it would become it was supposed to have a p pioneer way for self-less driving. >> so many entrepreneurs start with a broad vision what a company can become and over time the company has to execute and grow its focus narrows.

i think you know, one of the best things that the current team has done led by dara is focus on ride share and food delivery, and focus on execution and performance there. i think, you know, this is a company i think will continue to perform and grow over time so it's always going to be in the news, so to speak, but if you look at big picture, the number of customers they're serving around the world is pretty darn impressive. >> you recently added life sciences as a fifth core area of investing. as you kind of read the news this morning over intellectual property and the ability to transfer that, how do you look at that as an investor is that something you see as a big concern in the life sciences space? >> well, it's a concern, but i think the bigger picture issue is just the level of innovation we're seeing in life sciences globally i mean, i use the term internally and externally we are entering the golden age of biology. we're going to see innovations

and life sciences over the next 10, 20 years that will reminiscent what we saw in the technology space going back to the '70s and '80s up to now. tremendous therapeutic innovation solving -- really important human health problems. leveraging the human genome project that goes back now 20 years. all of that is, again, leading to tremendous innovation around the world. seeing it in israel. in europe. of course, china in the u.s so it's another case of entrepreneurial segment that's gone global. i think a great place for investors to have exposure over time. >> really fascinating. kind of speaking of life sciences and, of course, the global pandemic that is still ongoing. you know, especially in emerging markets. ga has a lot of exposure to areas that the virus is still ravaging tremendously. including india and brazil the economy, of course, responding to a lot of the health crises going on on the

ground down there. what are you hearing from your portfolio companies in some of these emerging markets and what do you think needs to be done in order to help these areas out? >> well, obviously, let me start by saying that we're deeply concerned about what's going on in india and brazil and other emerging market countries. i mean, it's a human tragedy and we're doing what we can to be helpful by supporting our investment teams on the ground our portfolio companies and everything else. i think the best thing the world can do is accelerate the vaccine deployment in these countries, because what we start with -- the reason we're starting to -- what i'm tcalling beginning of the end of the pandemic in europe and most of the united states is because of vaccinations reducing the number of people who aren't vaccinated who can be exposed to the disease and have terrible health outcomes we all ought to do together, find ways to accelerate delivery of these vaccines to all of

these countries. i know we're trying to do that, as are many others that's the answer. we can't create enough health care capacity in these emerging markets fast enough to deal with the health crisis but can hopefully stop it from getting worse by vaccinating people. >> one last question, another one of your portfolio companies also in the sharing company is airbnb has it lived up to your expectations have you sold any of your stake or intending holding it longer >> haven't hold any of our stake. another terrific company, went public last year you've talked a lot about it on the air, a great recovery stock. people are excited to travel again. especially as they increasely are vaccinated airbnb has done an amazing job creating a marketplace for that. one of the original shared economy marketplaces it can reshape the way we live another company we have great

expectations for and excited to be a part of their investors group. >> all right bill ford, general atlantic chairman and ceo a rare interview thank you so much for joining us today, and sharing your insights appreciate it. >> thanks. >> carl? >> lt, thanks for that and exclusivery michael dell on the way later this hour. "techcheck" is just getting started.

if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity.

which shows will you be getting into tonight? for smarter trading decisions, how 'bout all of them. netflix. 'cause xfinity gets you really into your shows. when one burns for someone who does not feel the same. daphne, let's switch. from live tv to sports on the go. felix at the finish! you can even watch your dvr from anywhere.

okay, that's just showing off. you get all of this on x1. so go on, get really into your shows. you need a breath mint. xfinity. it's a way better way to watch. we're back the street is mixed on peloton this morning a day after shares fell 15% as peloton recalled all of its treadmills after several reports of injury and one death. bank of america downgrading the stock with peloton losing half market cap since the january high credit suite going the other way with an upgrade. most analysts are neutral. peloton one sell rating to cover it, just two buys. shares this morning modestly higher carl jon, a theme we thought we'd have our dom chu look into work-from-home levels.

to labor day. >> mentioned peloton lost rafly half its value look at work-from-home, stay-at-home names during the pandemic covered so much because of such a tear look at names in the pullback in trade we talked about. docusign, electronic signatures, up 64% still on a one-year basis. that white line you see there from the highs we've seen is now down roughly one-third of its value from where we saw it at its highs here look at chewy. still a 77% gain, but lost about 40% of its value since its highs we have seen recently here you see the orange line. then teledoc health, green line, down 14%, a one-year basis lost roughly half its value since the highs we saw over the course of the last several months's to show you, more of those names, following peloton in that same theme going lower. of course, peloton has its own

issues one stock, the poster child of that particular trade, referred to it as a verb these days, to zoom someone right? zoom video now down two and one-third percent today. record highs over the course of the last year, this stock was worth roughly $161 billion. haves lost what it's done over the past several months now close to around an $85 billion company. an idea how much market value from the 2345names. not all that way one stock from the stay-at-home trade. logic tech, up 123% over the last year and pulled back but still holding up relatively well where it has been since the record highs seen a month ago. logitech high flyers, yes, the ones

coming back down more secular names in growth and accessories and hardware, doing pretty well, guys. >> yeah, dom, a great preview for our interview with michael bell later we'll ask about his forecast for pcs. last night, google walking back their remote plan. a little more strict, and we've had other ceos come on the network to say if you don't have a hybrid and relaxed hybrid work plan allowing people to work from home you'll have to reverse it i wonder if that could see a revival in some of the names is zoom going to stick around? peloton in a way perhaps investors are counting for right now? >> deirdre, an excellent point so the reason why the market dynamic is so interesting right now is because this is perhaps a revaluation of what's happening with these particular stocks and what i mean by that is, you can have secular growth themes

over the long term about what it looks like for hybrid work environments or work from home trends intact and have companies like hp inch, you mentioned dell before, michael dell, speaking with him, the personal computer and printermaker is now $1 away per share from a record high that it saw going back to the dotcom era, and a lot of that move happened in the last six to nine months for hp inc it comes down to whether investors will try to figure out what that yale lequilibrium val even with growth term in the future you can system believe in long-term prospects of a company like docusign or teledoc or wayfair or etsy or others. say to yourself, know what maybe some of these stocks ran too far too quickly in a short a of time. revaluation is a real, real, i guess, eye-opener how the markets are treeding more secular growth stories when it comes to things like work from

home hp inc., printers and personal computers, i know you guys are talked to michael dell crazy for he to think not so long ago we talked about the kind of, like, secular decline of these types of companies. amazing to see what's happened for companies like this. like dell, of course, and hp inc. >> and hp keeps splitting into lots of different companies. hp enterprise. used to be a part of that. whether it's mice or mouses. i'm going with mice. my thoughts. >> yes i think it's mice. >> and what to expect from row queue earnings today, that's next. plus a breakdown of the feud with youtube later, we mentioned, michael dell a cnbc exclusive "techcheck" is back in just a few. ld be. while he's tapping into his passion, the u.s. bank mobile app can help you tap your way to your savings goals.

without missing a beat. so, you can feed his passion. ear plugs not included. ♪♪ u.s. bank. we'll get there together. ♪♪ at t-mobile, we're on our way to hiring 10,000 veterans and military spouses by 2023. and our commitment doesn't stop there. we always offer 50% off family lines on our military and veteran plans. that's right, 50% off on america's most reliable 5g network.

>> we will listen for an outlook and potentially revealing signs how many hours people are spending streaming compared to the last couple quarters roku is expected to add about 3 million accounts between q4 and q1 and grow revenue over 53% from the year earlier quarter, while loss is expected to fall by more than two-thirds to a loss of 13 cents per share wedbush upgrading roku saying the recent pullback provides "a

decent entry point." saying roku continues to benefit from accelerated expansion during the pandemic, secular from limited tv to ott in beginnings of international expansion. the other big question, though, is, what roku will say about its standoff with youtube tv google tpulling its app from roku's app store over a breakdown in negotiations for what roku says are unfair demand from google including preferential treatment and search access to user data google doesn't want to give roku special treatment as expense of its users experience estimated 1 million of u chip tvs, 3 million access service through roku according to truest if the app is pulled off roku's platform entirely, hasn't yet, but if it is, up to half of those accounts could lead to yore platform such as an apple tv or fire tv. we'll seale if they share updat

whether users are leaving or whether it's impacting their growth guys >> hmm speaking of streaming at large, more than half way through earnings season. metrics from hbo max and at&t. peacock, our parent comcast and thoughts on paramount plus and viacom >> paramount plus and viacom, the real story, streaming gro er growing pluto tv, the company viacom acquired because of support in ad streaming, that business growing faster than expected and because of the success of that they are going to launch an ad supported version a plus adding $5 in june, and use benefits of ads. speaking of benefit of ad-supported streaming, we heard earlier this eearning season frm

comcast, nbc's parent company, peacock is going great one interesting thing about peacock. they grew to -- the peacock streaming business, 42 million signups. the viewers are watching 24 hours more programming than the traditional nbc audience think of that in the number of ads they're seeing, targeted streaming ads can be than traditional tv ads bodes well for revenue from the streaming tv world. >> right i guess you can watch it on many more devices, julia. thanks for that roundup. time now for a news update rahel solomon has that for us. good morning. >> good morning. here's what's happening at this hour weekly jobless claims have fallen below half a million. roughly twice the pre-pandemic levels meanwhile, worker productively shot up 5.5% first quarter

economists say the pandemic is distorting the data and sharp inns may not be repeated pfizer's re ceo, waiving intellectual rights for covid vaccine to speed up production saying a dangerous precedent could be set >> i truly believe that it makes zero sense, not to mention about the business incentives for the biotech industry what does it mean in the next pandemic >> those patent concerns driving down shares of many vaccinemakers, including moderna, dropping another % today, despite the first quarterly profit ever thanks in large part to its coronavirus vaccine. something to watch back to you. >> rahel, thank you. also today, a new study from stamford business school examining unique challenges black entrepreneurs face that

can lead to smaller company spaces i talked to a stamford researcher and stam finished fda founder and ceo of sugar i was told she was able to raise funding in the pandemic, but it wasn't easy. >> if you've been rejected by a bank before, you're going to be less likely to, you know, want to apply i had some previous understanding of the online lenders, like blue vine and cabbage and more likely to go through them and then we luckily were able to get funding from those sources, but when i talked to a lot of my black business owner colleagues, a lot of them were not familiar with the online lenders and so that was one angle that i experienced firsthand and then secondarily, we're in the process of closing a $2.5 million round a lot of that was pitching people you never met before on zoom >> for that full conversation we get into all of those issues point by point and the study

follow nbc "techcheck" online. stamford will publish that stud any about an hour and a half. >> good stuff. meantime, zynga to a buy strong q1. double organic, they say in the pest business its been in at any point on mobile the ceo is coming up next. so stay with us. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning.

see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪

reporting a strong first quarter this morning, shares up 3%, raising full-year guidance on expectations of strong demand for live gaming services i spoke with the ceo, frank gibeau earlier he highlighted how the company adapted to around the clock features take a listen. >> what we really try and do on the platform side is make sure that all of the information is being generated in the games like what features are working's if we make a mistake in a game, how can we learn from it and do better next time all of that is shared across all the teams and we createinteres interesting tools to run the services 24/7, 365-type business.

something can go great at 2:00 a.m. in turkey and we want it to propagate through the company to stay on top of it. it's a fast-moving market. and console gaming, getting into that. that 24/7, 365 market, still is the company the focus. i asked about the app feud following between apple, epic games and that 30% commission. here's what he said. >> the issue is what value do you get for the 30%? so from my perspective, when we look at our relationship with apple, we have a lot of very positive things in the relationship and things we work on privately together, company to company so from my perspective, see what happens with the trial, and whatever answer coming out, like i said, we'll incorporate it into how we operate going forward. >> doesn't sound like he's going to be joining the epic battle. also we discussed zynga's plans for the metaverse and crypto and

futuristic-looking device over his shoulder check out the full interview just go on "techcheck" linkedin or twitter page are and scan the qr codes you've seen throughout the show on the screen carl >> cool, d. dow's got a bounce here. up 163 f pharma companies a bounce as welling. meantime, michael dell is moments away don't go anywhere.

what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.

michael dell is hosting dell technology's world and joins us on the other side of this break. meantime, google relaxing work from home rules. read more on cnbc.com. we're back in a moment. utu. maybe it's for kid number two. or employee number two hundred. maybe it's understanding the real value of your business. or ensuring that what you've built, will be taken care of for a long time. whatever you're planning, you don't have to do it alone. we'll make that part of your plan. you have a team who's been preparing for all kinds of futures for nearly 170 years. learn more at massmutual.com 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. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world.

the bennetts really know how to put their wifi to work. workday. whether it's work work... works for me. school work... it worked! or a work out... oh i'm working... they've got xfinity, which delivers wifi faster than a gig for all their devices. it's more than enough to keep everyone working. can your internet do that? this is work! this is hard! now xfinity delivers wifi speed faster than a gig. that means you'll have gig speed over wifi to power a house full of devices. learn more about gig speed today.

welcome back dell technologies world 2021 kicked off yesterday, continues today. the company layingous a vision including aipac. for more founder and ceo michael dell michael, great to have you on. want to talk about cloud and the vision but start with the current new shape of dell after announcing the vmware and booming spin-off you say you'll continue to have a working relationship with vmware and customers won't notice the difference. what's the new focus after the spin >> oh, look, today we have announced that we're moving our whole business to, as a service and on demand. apex is now live for us a big expansion and customers have been telling us and we've been growing our on demand kind of cloud experience business, and this allows us to

provide flexible consumption, scaleability, simplicity right now we're offering our apex data storage services this is, you know, done in a very transparent way as far as pricing. no over rage feeing integrating compute, network and storage together apex flex on-demand. allows customers to scale up and down as their demands change and pay for that they use and our apex data center utilities which provides incredibility flexibility in metering and managed services across their entire data center you know, this combined with the voth of the edge we think 75% of the data will be outside of a traditional cloud or data center within five years. and there will be tremendous growth at the edge

that together with the capabilities that we continue to build, co-engineered solutions with vmware, very excited about the future. >> well, i mean, that's part of this narrative that we've been talking about for a while, that public cloud alone isn't everything explain why the edge is going to be important, and that's everything from, you know, smartphones, pcs, things that are not in the cloud or in the data center, but are really close to the user, whoever the user happens to be how does that fit into the narrative rounds like ai >> right jon, think about the edge as the actual real world. the physical world and what's happening is, everything is becoming intelligent, and increasingly connected. so, you know, applications you know, they spring up where that data's being generated. and bringing all of that data back to the center, you know,

whether it's a private data center or a public cloud, doesn't make sense that's why analysts are predicting that by 2025, as i said, 75% of the data's going to be outside of those traditional clouds, public or private to datacenters. so what you're going to have is distributed intelligence and compute that allows for realtime processing and, you know, we're already seeing these edge applications emerge in a significant way in manufacturing, in retail in health care. you know, the fourth quarter, we had hundreds of, of edge customers already emerging as a pretty significant part of our business. >> right. >> so we see this as a bigger growth and 5g is a massive accelerator there. >> yeah.

>> of course, so much data you just can't reason over it. you need artificial intelligence and machine learning. >> got to go back to vmware booming. i didn't get your thoughts there. a lot of investors have wanted a vmware spin for a long time. why spin both of those i mean, worth billions why spin both of them now? >> so -- we believe, first of all, it's a very shareholder-friendly move. it does unlock growth opportunities both for vmware and for dell technologies, and certainly unlocks a value for stakeholders the relationship between the companies continues to be super strong we have created a unique and differentiated commercial agreement. basically taking all the things doing informally and building that into structure. for the next, you know, five and a half years. and all of the joint innovation, the joint products that we've

dwe developed, all continues full steam ahead. really no change for our customers and partners i think both companies will be stro stronger simplifies our capital structure and certainly with the sale of boomy for $4 billion, that's going to just further accelerate our flexible, allows us to focus on our core and -- >> yeah. >> will certainly help with our investment-grade ratings. >> michael, talk to me about domestic chip production your friend pat gelsinger, leaning heavily into that. at intel doing a lot more domestic inside u.s. production as well. how important to dell technologies to source a significant number of your chips in the u.s.? even if there's a cost difference there >> you know, what we want is an

efficient supply chain, and no disruptions. you think about how the products that we're building are impacted in the world, impacting the world. all of the work from home solutions, every aspect of the company requires semi conductors it consumes half of them but it is producing 12% and that is going down additional investments, you know, like the kind you mentioned and certainly the focus of the administration and a commitment to making sure the investments don't harm all industries, you know, i think that investment in semi-conductors here in the united states is super great to see.

the closer we are to our customers with our supply chain the more resilient it will be. >> michael, you're going to stick around we'll take a quick break and talk about dell and this environment when tech check continues. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $800 off our latest 5g smartphones. everyone wakes up every morning to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected.

it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works.

welcome back, dell technologies joined intell, nasdaq and snap for the alliance of global inclusion why is that port i think creating an equal and inclusive work environment is not only the right thing to do but it is good business. and it is the largest workforce and we don't want to exclude anyone and we set aggressive goals for

ourselves in the past, a decade ago. we had our 2020 goals, we made great promise in those now we have 2030 goals, and this is all very consistent with the focus we have on the inside of the company and certainly making our company a great place for anyone to succeed. and abbot says ceo's of companies like dell and american need to stay out of politics especially when they have no clue what they're talking about. what's the response to something like that? >> you know, we don't really p to be in the business of commenting on every single bill and every single stake when it comes to these things. i did sign on with many other leaders to a statement around voting rights.

and i feel very strongly about voting rights. and you know, we are trying to focus on running our businesses and we don't want to be pulled into all of these debates but i think there are times it's important to have. >> walking back it's policy to be flexible on remost work do you think that other companies that laid out somewhat stricter policies, even outside of tech, do you think they will end up walking them back also? >> we'll see i mean i think it is pretty clear that people like the flexibility and i think that, you know, every organization will figure out what's right for them we expect that roughly 60% of our team members are going to

work in some kind of remote or hybrid structure after the pandemic we're hearing something kind of similar from our customers that is a big demand driver for us we're seeing positive trends there. from all of the challenges and the tragedies, i think there are learned behavior that's are quite positive about how work can be done from anywhere. >> we can't do an interview this year without talking about 5g. a lot of that was led by higher end devices and demand there to what degree is 5g demand living up to your expectations despite the pandemic >> i think because of the

pandemic 5g gets an acceleration we're providing carriers with infrastructure, and as this new infrastructure is created it is moving on to the kinds of t software and structure that it creates. it will just accelerate this data era and all of these things and all of these things feed off of each other. >> michael dell, founder, chairman of ceo technologies, thank you. we have seen so many big

technology companies throughout these eras go through permutations one of the stories that i think has not been told quite yet is how michael dell managed to come under activist pressure from icon remember that? get emc and vm ware, spin those off and be part of this cloud story. not every long-standing technology company has gotten to do that. >> no, it's been quite the journey and john, you have cover it'd well. we'll watch some of the trends we're talking about tonight. we have another slew of earnings including roku, drop box, square, expedia, some of these names under pressure today and we'll be talking about drew hudson at dropbox tomorrow >> yep, more than halfway through earnings season. we'll get to some of the more consumer oriented names in the

retailers on the back half of the earning season overall this pharma of new information on i.t the white house says they're unified for something like that, as well as gary gensler. it's time for "the judge." >> welcome to "the halftime report." stocks, the dow hitting another new record today where is your money heading in the months ahead that is the big question joining me for the hour today, courtney gibson, the cofounder and managing partner of new edge good to see everyone, i'll show you the wall, the new record high for the dow today two better than one. 70 for the dow, 34,402