after yesterday's significant rally on the broader market, the s&p up another quarter of 1% the dow is lagging and the nasdaq lagging as well a broader performance of the s&p, similar to what it did yesterday. energy not having quite as strong a day either. we know that is going on with bitcoin. that will do it for us on "squawk on the street. "techcheck" starts now can you explain how i might use bitcoin? >> okay, conan, imagine you are in a snow globe, where -- every snowflake is a unique and beautiful coinpertunity. >> that didn't help me all can you tell me what bitcoin is or not >> it is a circle and everything we have done or will ever done we'll do again. >> that's a line from true detective. >>

. good tuesday morning welcome to "techcheck. today bitcoin falls below 30,000 abandon ship here or hold on for dear life? then no more mr. nice guy. and later on hot takes and news from tinder, the ceo is going to join us this hour, jon. checking in on movers of the morning, game stop and splunk raising new cash and peloton launching a new corporate program. more on all of those movers and others throughout the hour we start with bitcoin, though ask is the bubble bursting the world's most popular cryptocurrency falling below 30,000 for first time since new year's day analysts have been eyeing 30,000 as a key support level for bitcoin, but galaxy digital ceo

mike nov gratz said that that level could actually be lower. >> it is always hard to call the bottom 30,000, we'll see if it holds on today. we might plunge below it for a while and close above it if it is really reach 25,000 is the next big level of support. >> today's downturn is a more than 50% drop from the cryptocurrency's all time high two months ago when coin base listed on the nasdaq call that the peak since then, many of the big movements have been spurred by tweets from personalities like elon musk and headlines from china, cracking down on bitcoin mining and urging payment companies not to offer crypto services bitcoin isn't the only cryptocurrency falling ether is falling fast as well. dogge coin falling some of the smaller coins have held up a little better than

bitcoin over the last few months that's not the case today. red across the board for cryptos. >> yeah. that is where we start with our first guest this morning who warns this is not a crash. kanye, welcome back, good to see you. >> good to see you again, carl. >> we have watched price action in crypto at large and we give it a long leash because we know it is new and we understand it is volatile. does this price action that we're witnessing this week and especially today, does it mean that the use case has taken a hit? >> well, the use case hasn't taken a hit. there are some things to consider the first thing to consider is that you're seeing some cash rate volatility coming out of china. but it is relatively normal. so it is not atypical to see compute, which is what is a global market for bitcoin move to jurisdiction. so china cracking down on that is indicative of bitcoin moving

to places from a mining standpoint where there will be more support for it. second of all, as you think about the price, one of the things i like, analysis talking about whether there is a predictor of a bear market, you want to look at the short-term moving average and if it drops below the long-term moving average. so 50-day, 200-day, and if you look at value actions, you see there is not the structural conditions for a major sell-off. bitcoin is still up 200% year over year. ethereum up 600% year over year. while you're seeing volatility, typical with both of those assets, if you look at them on a long enough view, this isn't a concern. >> you see technicians now, technicians is its own separate thing, but when you look at head and shoulder patterns that sort of telegraph targets in the $5,000 range, i assume that -- is that worrisome from the use

case standpoint and is it worrisome from the coin base standpoint, which kindred has some >> yes, we are holders of coin base thing i should note about coin base is coin base is a very, very long-term oriented platform that the best way to think about it is a store for a lot of the currencies a lot of currencies don't just have speculative value, they have use case value. with the way the price moves, i'm long-term bullish on the coin base case, we want there to be a vibrant app store with a large number of currencies, not just -- and secondly, though as you think about the use case more generally as a function of price, one of those use cases is speculative value, but not the only one when you increasingly are seeing is more use cases transacting in art, lending, in staking and other systems and price volatility is more complicated

for that but low prices aren't necessarily bad. >> kanyi, i can't believe i'm going to do this i'll ask you abo about dogge co. it has been more volatile than a bitcoin has been there is a blockchain use case around it, less of a sense of intrinsic value there. i wonder if the dive in doge might indicate something about the markets or the retail investors' appetite for risk what do you think are the chances that is or will be indicative and what is the impact on tech, maybe even early stage tech if it is. >> the way i think about doge, separate from a crypto and use case i think the trend and the theme you're seeing is the rise of meme investing we have been talking about game stop, amc, wendy's, all of these names, even in the traditional public markets, which have seen

crazy rapid price appreciations and then equally pronounced quick drops. and a lot of that is just indicative of the fact that retail investors are flexing a muscle using social media, using reddit and self-organizing in a way they have never done before. that's been happening over the course of the last year. i think meme investing is in and of itself a trend. i think it is a very challenging trend for someone who wants to be an investor for the long-term, a patient investor, more traditional established investor i wouldn't recommend putting your retirement savings into doge coin, but i think that's the trend we're speaking to there. and i think that's going to play out in new apps are that are using social investing as a way to actually get communication, building community and friendship and social networking might actually have you invest in categories and aspects to it more than anything else. >> i also wonder how much of what we're seeing in meme stocks perhaps in doge coin has to do with easy money and easy access to leverage and whether you

know, the inflation indications by the fed last week combined with the caution perhaps that moved into the crypto market with these china headlines might be part of the story >> yes, but i think that while it may be the case that excess liquidity was the catalyst, it is now awakened the imagination of the population. it is now the case that meme investing is here to stay. the extent to which it happens may actually have some correlation with the amount of so-called easy money meme investing is now a new category we have to understand and grapple with >> kanyi, it wasn't too long ago that doge was the number three currency tether has that title now with with times the trading volume as bitcoin, we talked about it yesterday, some are calling it the weak link in cryptocurrency, the black swan how closely are you tracking its influence and do you have some of the worries that others in the crypto sphere have about it?

>> i track it quite closely. stable coin in particular are proving to be a useful tool across border investing for real time settlements, just a new transactional tool and method that a lot of consumers all over the world are starting to adopt at skill and usdt is a well adopted or well known stable coin i would tread very carefully and the primary reason why i would tread carefully, it is backed by highly nontransparent commercial paper. the whole point of a blockchain is it is a public ledger and you have so much difficulty understanding the results of the audit, understanding where the commercial paper comes from, whether it is chinese denominated or denominated in the usd, all of those things are cause for me to put my bumpers up >> you're not alone there. let me ask you a little bit about leverage in the crypto economy. you see asian exchanges give a lot of leverage to their users

i think nov gratz called it 2.0. do you think that gets flushed out in the recent moves we're seeing and what does that mean for the crypto market and intermediate to long-term, we may not see as many big moves if that's in fact happening >> yeah, i do think that there is -- there is a couple of issues related to levers i want to touch on. one, yes, there is probably more leverage being provided to crypto traders or activities thanperhaps is appropriate for the fundamental value that is being transacted at the end user level. but the second is that crypto itself is still reasonably inefficient. there is a lot of overcollateralization that still happens in crypto and oftentimes when you're borrowing, you have to hold just as much in collateral if not more these are the structural issues that a number of new platforms are trying to solve for. one thing we're actively looking for in early stage investing is how to get some collateral out of the crypto transaction ecosystem. right now it is

overcollateralized. >> i like this framework you've got, looking at faang as a proxy for america's economic health, particularly amazon. i know you're throwing facebook in there as well because there is so much attention paid right now to the transports and the russell and the dow. can you talk about why that's important? >> sure. the first thing to note, if you look at the dow industrial as an index, is it actually indicative of the things that we're all tracking is it indicative of job creation, the health of the americans. i think something like amazon and even facebook and google might be more indicative of what we should think of as an index the fact there is a duopoly and m maybe a three-way relationship just in digital advertising means all the small businesses, all the large companies that are now roaring back and looking for new shoppers and new consumers and frankly even new hires are

doing so on those platforms. so the fact that you're seeing so much digital advertising growth and beating the benchmarks predict as of the end of last year is indicative of more health in the economy than an older index like the dow. >> yeah. fascinating if it does turn into more of a macro tell in addition to a sheer market cap story about big tech great way to start the hour. thank you so much. did i hear you bring up doge coin i know you have been very skeptical of these meme coins, and meme stocks even so what do you make of this drop, down 45% today alone >> yeah, to me, it is just natural skepticism of things, particularly in an up market, a hot market when these i guess assets you can trade haven't really seen a down market, i've been noticing, there was a while where doge

coin would be at around 30 cents and bitcoin would be around 30,000 and they would move up and down together and then at some point there was a gap that opened up between the two. and over the past couple of weeks, few weeks, doge dropped far more quickly than bitcoin has. and it reminds me of real estate, when the real estate market slows down, there are certain areas, maybe close in, desirable areas close in to the city that, you know, they take a little bit of a hit, but it is the excerpts that get hit harder and get gutted i wonder whether the -- in crypto, some of these might follow that pattern. but it is kind of early to see we'll keep watching it >> eah, well, our next guest i a long time bitcoin bull when he joined us last in may, he said the volatility is just part of the game have a listen. >> in crypto, in bitcoin, you never really had to own bitcoin more than 24 months to never

lose money i think bitcoin is hypervolatile. that's the nature of it. that's what creates the reward for people and, again, even though bitcoin is in the penalty box now, i still think it can exit the year over 100,000 >> well, it is in the penalty box once again here and tom lee is back with us. tom, do you still think that it can get up to 100,000 this year? >> yes, i mean bitcoin is in a very rough patch now and, you know, i think the technical picture in the current term doesn't look great. but we also is have to keep in mind, bitcoin makes most of its gains in ten days in a single year so the idea that it is below 30,000 now doesn't rule out the ability for this to generate some really big gains before -- and potentially hit 100,000 or higher >> but, tom, if some of the leverage is being taken out of the market right now, some of

the retail investors who have been trading ona huge margin leaves the market, will it go up as quickly, are we likely to see as many big moves even on the upside >> yeah, i think one perspective we have to keep in mind, we have a trifecta of bad news hitting bitcoin, you know, from basically national mining bans to, you know, pretty tremendous regulatory scrutiny in the u.s and if you look at any other year, these would have taken bitcoin deep into a bear market, into a crypto winter and yet bitcoin is really only 50% off its highs and that's at a time where there has been an effort to reduce the amount of leverage in crypto and in bitcoin positions, so, i mean, with that trifecta, the fact that bitcoin's holding 30,000, that's really a technical breakdown, i almost think that it should be kind of just pretty

impressive, actually. >> tom, why is a national mining ban in china, you think, so bad for the price of bitcoin right now? it has been pretty clear for a while that china wasn't a big fan of cryptos, that it can't control and talk about mining restrictions in the past and i don't really get why aside from sentiment, there would be this reaction what is your thought on that >> that's really the key question for someone who, you know, sort of appreciates blockchain technology and proof of work, the idea that there was so much cash power and mining concentrated in china was something that was a negative for the thesis long-term bitcoin. why people don't want to see oil production in politically unstable areas you want censorship resistance to -- mining to be done where it is lowest cost production and that wasn't necessarily china. it is absolutely a positive

development, but institutional investors aren't necessarily the new buyers of bitcoin in 2021. i think there is retail and a lot of meme investing and i think their reaction to the headlines is speaking to the idea you are trying to transfer bitcoin right now from these sort of meme hands or people buying it for the price, into hands of people who appreciate the technology and the idea of sound money. >> yeah, tom, to that very point, over at jpmorgan, they have some results of an investor survey the view on crypto is very divided, he says 5 1% feel it is here to stay or even becoming an important asset. 49% say it is, quote, rat poison or a temporary fad i wonder, you've been so vocal on crude right now as an underappreciated asset what would you rather by now, bitcoin or oil >> well, if i had to say, i

would rather make money and not try to be right. to me, the oil picture and supply demand dynamics and investor skepticism about that is so attractive that that's why energy stocks have been our number one pick this year. but when i look at pure technology and secular growth opportunities, i don't think there is -- it will be very hard for people to find another generational multidecade story outside of digital assets. so as much as 2021 feels like, you know, a terrible year for crypto investors, i mean, in a decade, this is kind of noisea opportunity. >> before looking at this as a multigenerational story, wonder if we're focused on the wrong thing now. the headlines we have been getting has been blamed in part for the sell-off the crypto world has always

known that china does not want a decentralized currency that it cannot control could it be the institutionalization of bitcoin that is actually hurting its price and perhaps limiting its use cases because the thesis behind cryptocurrency is that it exists outside the system and it provides something that the traditional banking system doesn't. >> yes, i mean, the bitcoin, you know, the actual story and usefulness is evolving but there really isn't a better way for people to have security and to move money as you know. bitcoin, you know, you can still move millions of dollars down the bitcoin blockchain but having to do passes through swift and potential errors as you know, like swift 10% of all wire transfers have to be manually intervened. and there is a lot of security in its 11-year history, bitcoin never had a fraudulent entry on the blockchain

i think it is a great -- it is very sound money it is good to see mining diverse and ultimately, you know, bitcoin needs to sort of show that it is the esg friendly way of actually sort of managing someone's, you know, monetary system so it is an evolution, but i wouldn't say mining is all bad, but as a headline, it scares a lot of retail investors. >> well, tom, thanks for being with us again and providing your thoughts we'll keep tracking it as well as your target see you again soon. >> great, thanks digital dating companies seeing a recent surge in their share prices on top of some news on video out of tinder this morning. julia boorstin has that ahead of an interview later this hour julia? >> well, jon, online dating saw a surge during the pandemic.

and now tinder is launching new tools to help it grow market share in what tinder parent match predicts will be a summer of love. now tinder users can upload videos as part of their profiles the platform is launching a new way to browse other users based on shared interests and you can participate in a virtual experience with new people including a new interactive speed dating type feature called hot takes. the idea is to give more background on people before they commit to meeting in person. tinder's new feature ramps up competition with bumble, which has video dates. bumble shares are up 26% shares of titinder parent matchs down going into the summer, nearly half of analysts have a buy rating on bumble and just over half have a hold rating and 67% of analysts have a buy rating on match, 28% have a hold and 6%

have a sell. we'll be talking about all this and more with tinder ceo jim lanzone later in the hour. hot takes from tinder. amazon prime day too, and is sundar pichai too nice big hour of "techcheck" just getting started. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7

to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it.

i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. time for gut check vimmo. the best small to midcap stock idea for the year. well positioned to gain some share to close out 2021. shares down about 1% but well off the high, the opening day high of 61 jon? >> yeah, and another $5 billion plus for sales for amazon, the first prime day as day two continues this morning first of two prime days this year our next guest used to work at amazon, now the ceo, just raised $60 million series c, good to see you. i want to ask you the overall

question about the significance of prime day at a time when we have seen a lot of the small businesses on amazon's platform challenged by targeting limits in the latest version of ios, ios 14 and also kind of a movement toward shopify as an option for small businesses to take more control of the overall experience what is the important narrative in this year's prime day >> so, look, the way that we think about e-commerce, 85% of total e-commerce in the u.s. is happening on indirect websites like amazon, walmart.com, target.com and kroger.com. 38% of e-commerce in the u.s. still is happening on amazon amazon is the white elephant of e-commerce if you have to win the e-commerce battle front, you have to nail down the indirect channels like amazon and walmart. shopify, for instance, they address the market which is the

direct to consumer, which is only 15% of total e-commerce in the market and if you're a brand -- if you're a seller, you have to nail down the indirect channels in e-commerce. >> okay, and so where does commerce iq fit into that? and how important is having really great data on each part of, you know that cycle of addressing the end customer? >> jon, commerce iq is the management platform for e-commerce out of colgate or nestle or johnson & johnson to win in e-commerce. as i mentioned to you, e-commerce is on a massive growth path. we added four years of growth to e-commerce in the last nine months as opposed to the previous four years. here is a not so obvious fact. most of that growth, most of the dollars actually came in, in the indirect channels, and if you look at how traditionally brands

have managed an indirect channel like a walmart or kroger, they have a traditional salesperson sitting down over dinner and negotiating deals. enter amazon, amazon, you can take an algorithm out for dinner, that's where commerce iq comes in, we are powering the automation engine to work with an algorithm, amazon or walmart.com or instacart .com, what is exciting for us is over a period of time this is a seven to eight x bigger opportunity than say shopify. >> going into prime day, there were some -- there are some still who are worried about supply chain issues, reducing the number of quote/unquote deals, cost pressures in shipping and we don't at this point truly understand the way the supply chain clogging is going to affect back to school and holiday. do you think that's overstated >> supply chain problems are

still very big in e-commerce right now. mainly because of two reasons. number one, there is still a supply constraint in the market. that's because of global chip shortages or general manufacturing capacity issues that we have been seeing and the second thing is around the warehouse capacity of retailers like amazon, still seeing a lot of supply shortages. if you're a brand, you really have to make sure that you are almost treating your advertising and traffic generation as a mutual fund or stock ticker where you're constantly watching the inventory supply, the profitability of an item and all that, and start to move ads and shopper traffic in a way that you're driving traffic to more in stock items that's a big trend you're seeing in this time span. >> something you said a few moments ago was interesting. you said if you're a retailer, you have to nail down those indirect channels. but isn't shopify and some of the other direct to consumer

companies reducing that proposition, doesn't the success of brands like all birds and warby parker prove that direct to consumer works better than listing on walmart. >> when you're buying a diaper for your kid, are you going to huggies.com, going to amazon or walmart.com to buy it. >> i'm talking shoes, not diapers. i'm talking about consumer brands, like all birds, you cannot find on amazon. amazon actually created its own copycat to list on its site. so i'm not talking about diapers, something very functional i'm talking about brand power, star power, these direct to consumer brands are getting that they wouldn't get on amazon or they argue they may not. >> you're absolutely right brand power and, in fact, the intelligence behind the shopper is really from the direct to

consumer channels. but the reality and the problem is that is still only less than 15% of total e-commerce, right if you're not an apparel -- >> for now. >> if you're not in the -- even now, even now, if you're not a -- >> i might -- i might counter that the honest company has made buying diapers direct to consumer pretty popular, but we can have that debate another time it will be interesting to see how it shakes out, 15% for now, i think that's going to grow >> definitely. think i we're adding -- e-commerce is adding dollars day in and day out and the growth rate is phenomenal we have seen about the e-commerce growth rate has jumped to about 30% to 40% in last one year. versus 15% to 20% that we saw in various categories the year before and leading up. and hence dollars are going to come in. whether you're in -- have a shopify store or indirect store. the dollars are going to come in the reality is it is going

across the board and most of the dollars are still going into indirect channels. you have a situation where top ten retail websites in the u.s. are driving 60% of total e-commerce in the u.s. >> all right, lots to think about. guru, thank you. >> thank you we have a lot more coming up you heard from tom lee earlier today. he's sticking by his $100,000 target for bitcoin this year. stay with us, lots more nuhe" tus aew f mites.

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. what happens when we welcome change? we can transform our workforce overnight out of convenience, or necessity. we can explore uncharted waters, and not only make new discoveries, but get there faster, with better outcomes. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change-- meeting them where they are, and getting them where they want to be.

faster. vmware. welcome change.

resetting near the bottom of the hour, i'm carl quintanilla with jon fort, deirdre bosa and julia boorstin a news update with rahel solomon. >> here is your cnbc news update at this hour as home prices rise, sales are

falling. existing home sales fell .9% in may compared to april. that's according to the national association of realtors, the fourth straight month of declines the median home sale price hit an all time high topping $350,000 european antitrust regulators were opening another google investigation. this one is looking at whether the company favors its own display advertising technology by restricting access to user data google says its services are competitive and effective. and reuters is reporting a $500 million compensation fund is now open for the families of the 346 people killed in two crashes of boeing 737 max jet t was created as part of a settlement with the justice department each eligible family will receive nearly $1.5 million. you're now up to date. carl, back to you. >> thank you very much. we're looking at tech stocks price action over the last month. dom chu has a look at how some investors have been buying the dips here. >> over the last decade plus

since the great financial crisis, megacap technology, megacap communication services, media type stocks have always been on shopping lists and it is kind of reared its head again, this time around, through this last dip cycle over the course of the last four to six weeks. if you take a look at the nasdaq versus the s&p 500, and certainly the dow, that nasdaq trade is re-emerged as the outperformer as folks have gotten back into that technology and communication services trade. if you look from a sector perspective, it is technology and communication services that have both outperformed the s&p 500 over a one-month period. within those sectors overall, three names really stand out on a tech and com services side with regard to real outperformance over the course of the last month. we're talking about semiconductors and specifically nvidia one of the top if not at this stage the top performing technology stocks over the last month. adobe also one of the top few stocks on a one-month basis and twitter, far and away the best

performing stock in the communications services sector over that one-month period they're not the best performers. you have to look down the list for some of the other ones over there. if you look at end phase, also service now, cloud computing services and pay pal and payments technology, they have been some of the real outperformers overall in that technology trade as people have kind of funneled into those particular moves, those stocks have been outperformers. but i want to highlight one more stock, and i'll show you the one year chart, year to date chart for this one this is cybersecurity. talk about a stock that hasn't had a dip whatsoever, jon, over the course of the last year to date period, cybersecurity a big focus for many traders and gig investors. fortinet, most stable in the entire tech trade over the course of the last month a handful of names really standing out on shopping lists back over to you

>> indeed. dom, thanks. another stock that is up about 6% over the last month, 38.5 year to date, google new york times is out with a piece where some google executives see cracks in their company's success. we'll break down a different kind of critical look at google ceo sundar pichai next at cdw, we get your it staff has be ready to take on new challenges. that's why we built an office obstacle course ... to prepare our people for anything. you're late well, cdw amplified services experts will consult with you to design, orchestrate and manage your most complex technologies to help you quickly overcome any obstacle ... without all of this. oh, that is better. who's that? oh, if you want coffee, you gotta get past tantrum. you're in for a brewed awakening.

for technology that moves you forward, trust cdw amplified services new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

sundar pichai's leadership at google being called into question the new york times citing 15 current and former executives at the search giant who say the chief's incremental approach to innovation has hurt the company. the piece notes the executives said google continued to be rocked by workplace culture fights and mr. pichai's attempts to lower the temperature had the opposite effect. however the executives also described pichai as a, quote, thoughtful and caring leader and the company under his tenure has grown more than 230% look at that stock chart right there. guys, the piece was interesting. it doesn't make mention of someone like ruth porat who -- the cfo, known to be more tough, especially when it comes to cost cutting and, of course, these

cultural cracks were so long before pichai got there with the slogan, don't be evil, the all hands meetings where employees were encouraged to be very open with their thoughts. >> yeah, i think the detail in here is great. i think there is real criticism to be leavied over the handling of the ethical ai team and a dismissal. it was interesting, usually you see these kind of takedowns when the stock is down or when a company is clearly has lost its way. this stock is up it reminds me of the tim cook apple can't innovate criticism we were hearing a couple of years ago. why didn't apple come up with the amazon echo? we don't hear that so much anymore though. >> yeah. i mean, the piece -- the first paragraph, they point out that things are going great and, jon, it reminds me where the big complaint was they had no discipline on the cost side

and were spending too much on moon shots it is hard to win all constituencies at the same time. we told you about the summer of love for dating stocks well, tinder's new features announced this morning take match to some new heights. the ceo is with us stay with us it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

ok, at at&t everyone gets our best deals on all smartphones. let me break it down. 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 everyone our best deals on every smartphone. like the samsung galaxy s21 5g for free. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪

automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. welcome back to "techcheck." tinder which has 7 million can

be scribers and generates about 60% of match group's revenue unveiling some new features today. joining us now to discuss is the ceo of tinder, jim lanzone, he joined the company last august jim, thanks for talking to us today. so, explain to us why did you launch these features, video, new ways to interact before you meet in person >> hi, julia video, the biggest one, tinder became number one and had over 65 billion matches since inception. because it was so simple, you know, to upload pictures and a bio and start swiping and very dynamic environment. but more than 50% of our users now are gen z. that is a generation that, you know, thrives on self-expression and that sorts of video. today, they can upload video the same way they would photos and start to see the videos in their tinder stream the same way they would anything aeelse and just swipe through. >> jim, i have to wonder how

much these changes reflect your background as an executive at video companies. you created cbs all access, what is that background mean for your vision for the future of tinder? >> i mean, i think we have seen this both gen z and everybody in tinder coming through covid, which is, you know, it is a little bit less of a transactional environment now, people want to get to know people better, virtually, before they agree to meet offline and it really hasopened up a whole area of swipe possibly, not just swipe left to right, but the journey of getting to know each other and they embrace doing that online before they meet offline that sets up the situation where tinder is this iconic brand, but can become more of a platform and provide experiences and all kinds of other ways for people to get to know each other. again, not because, like, a social media app we want to get their attention and monetize

that, whe're a subscription-base service, but they can have more successful outcomes and find that spark with somebody that, to me, is exciting and, yeah, part of that is content. but there really is a rich road map of innovation i feel like we can really do here and i've done so many other parts of consumer internet in my career, just seemed like a really interesting one to tackle. >> you mentioned social media, jim. i of course have to mention that facebook has its own dating service. you are competing with bumble. do you think these new services -- these new tools available for free will convince your users to subscribe and to pay for those services even though they're free or do you think this is going to send people over to rival services? how will this impact competition? >> hopefully it won't send them to rival services. it is a member-based service, and, you know, we have subscriber numbers it is all about creating more value. in that way it is a lot like

streaming subscription services. and so, you know, besides video, we're launching an explore tab or area of tinder. which will have all kinds of things, one of which will be experiences and activities that people can do together online. another is getting people more control over tinder and actuallg us the categories they want to surf through people within an example of pet mode going through people who love threats or thrill seekers where people find adventurers like themselves and that will sit permanently within a tab on tinder for people to lean forward, maybe, instead of the lean-back experience and tinder is number one in over 110 countries. it's incumbent upon a leader to not relax and keep innovating on behalf of members. that's what we're going to do. >> well, some fascinating

innovations adding nuance to the platform ceo tim lanzone. shares of nvidia movrgt up, why they are upping the price target this morning on cnbc.com/pro we're back in a moment adobe sign orchestrated by cdw, automates esigining cnbc.com/pro we're back in a moment why they target this morning on cnbc.com/pro we're back in a moment sign integrates what the tools are already using so you can grab signatures across organizations and even time zones to save you money, materials and mileage. making it easy to sign here from anywhere so you can do more everywhere. to take workflows further, trust adobe on it orchestration by cdw.

new yorkers across the five buhrows heading to polls, casting police in a pivotal primary. a key point amongst front runners, big tech and power over the city with candidates chiming on how they would or wouldn't have welcomed amazon's failed hq 2 to build a second headquarters in twreens:queens. the brooklyn buhrow president said he would have supported the deal with modifications and new york changed the way amazon does business other leaders in the polls former presidential candidate yaurndo andrew yang. kathryn garcia voiced support for the city yang calling the deal's failure a mistake but not everyone is onboard to bring amazon back. second place mya wiley pledged more regulation on amazon owes presence and bill de blasio a proponent of the deal.

tweeted out happy monday to everyone except a so trillion dollar corporation that refuses to pay fair share in taxes and protect workers. how each candidate plans to entice big tech leads to us what if the amazon deal were on the table? what if amazon comes back? john, it's amazing the drama built up in anticipation of the deal, what happened in the midst of it and that we're talking about it two years later. >> and in a way, i don't know that the politics have moved that far since then. like a lot -- i don't live in new york city, but a lot seems like it's a two-party system in the city, left versus far left and the left want to do there and the far left didn't. de blasio wanted it. was upset when amazon walked away saying we don't want to deal with this if the democrats can't get together with a single voice on this. i don't know, if it were still on the table, i feel like the same thing might happen.

>> to it could you know, i think amazon maybe was looking for some incentive, subsidies, we know not long after the hq 2, if you want to call it maybe fiasco after amazon barked out of new york city they bought the lord and taylor building and are hiring 2000 workers i wonder, guys, you know who i think would make a big pitch mayor suarez in miami. he would be eager to get a company like amazon in miami anyways, guys, moving on, if you missed part of the show, follow the podcast, listen any time anywhere on the go available wherever you download your pod ctsas tech check returns after one more quick break s largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping.

talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. 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. jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday. what do you mean? it makes it easier to develop great relationships with our suppliers. now everyone, everywhere loves jerry.

they sure do. they do. they really do. mmhmm. workday. finance, hr, planning and spend management for a changing world.

one more thing we watch before we go, gamestop jumping after the video game retailer announced the completion of the equity offering. selling an additional 5 million shares and raising more than $1.0 billion to accelerate growth shares are still up almost 1,000% since january i had to look at the 52-week lows

just under $4. the high nearly $400 who would have thought over the last previous months it would hold up around the 200 level. >> we're watching gme for sure a lot of capital raised. in the meantime we keep our eyes open for powell on the hill. 2:00 p.m. eastern time the remarks are out but the q & a will be important and john bollinger suggesting a potential bottom in bitcoin to the half. >> day one of the stock summit is in the books. the investment committee revealing the best ideas for the second half of 2021. >> the energy resource space, i think still has some legs into the second half of this year. >> scott, the punch line is the free cash flow generation here is frankly unlike anything i've ever seen. >> technically, when you look at apple it looks like it could be breaking out here. >> the transportation of goods leads me towards ups. >> match actually really disappointing, flat year to date, but the ultimate reopen name. >> you have more opportunity into faceb