stock all the time this year they were supposed to be having cash flow and everything else based on the spac projections >> yeah, they will get in the air soon enough. and that will do it for us have a great weekend, everybody. tech check starts now. >> more white on the brush and many other here, let's have another cloud, right up in there. see? just as many or as few clouds as you want in your world ♪ good friday morning. welcome to tech check. today investors do have their head in the cloud. why microsoft surge to $2 trillion is only scratching the surface of the hottest sector.

and then the games are on, is crypto money looking for new table to bet at. and why is netflix dead money, re-evaluating media deep >> that's right, and this is all against the backdrop of tech's meltup recently. the nasdaq looking for its third straight record close this afternoon. >> yeah, and our feed starts in the cloud, microsoft posting above the $2 trillion mark for the first time in yesterday's session becoming the only stock to do it microsoft already up about 20% year to date and just the largest company in what has been tech's hottest sector this month, cloud since the start of june, the etf wisdomtree is up 14% and a few names taking that basket higher, docusign, cloud fl flare. and how about asana, that stock

is up more than 60% just this month. but carl, the cloud is meaningless at this point really i mean, shopify and asana have very little in common. really they are software companies. and the biggest news this week, biggest story in software, is windows 11, microsoft trying to use to shift the digital economy. all this talk with competition, but really so many -- microsoft coming after apple and the app store. teaming up with amazon,yes amazing when you think about it. and then you have facebook and google also shifting their models trying to say that we offer better deals than apple. and of course all these downloads come out of the cloud. >> yeah, the competitiveness of the last few days, certainly not the setup that people were expecting going into a week

where we knew that house judiciary would take a look at these proposals. but it builds on the theme we've been talking about for a long time and that is coming out of the pandemic, a lot of enterprise is re-evaluating their cost structure, and they will pour some of that money at least into software. >> and perhaps the theme emerging that regulation could actually in some ways help these companies that breakup could be good for them and value them higher than they are at the moment when you talk about this sort of difference between cloud companies, i would say another bifurcation perhaps between the high droet growth and legacy co respect we were seeing ysome of outperformance over legacy names. they have been flat to down over last month and amazing that microsoft used to be one of those families but now what they are doing taking

them above $2 trillion in market cap. wouldn't call it a great chip i. >> that is why you have to watch cnbc microsoft was innovating in cloud butbut investors weren't giving them credit for it. >> and as we mention time and time again and take a look at tesla, because the games are back on. mike santoli pointing out that bull learn options flow is what is behind the surge, nearly back to that level where it was when the investors were forced to buy it last december and tesla the top ticker on wall street bets yesterday. so the question is, is this looking for a new table to bet

at q2 deliveries coming in. and why not if you have been tracking this event, it is called the b word event where it will have participation from crack dorsi. and there is a twitter thread where they have inviting kree lon elon musk to come. >> so yeah, hammering out the details. but musk and dorsi would be an event that we would certainly pay a lot of attention to. and it may be the call options that santoli mentions, but a larger event may be the ev element of the infrastructure deal and just the broader sense that consumer discretionary is getting a lift because gm and toward have been

benefiting as well and we're getting some nascent signs that maybe that chip shortage will ease >> i can't say that i understand exactly why tesla is where it is market cap wise. and what might take it higher or lower from here. i mean, i think that it is so impressive that it is like there is tesla and then way back there is everybody else when it comes to ev brands and the ev space. we've been saying for years tesla watch out, others will catch up nobody has gotten close. but as this market flirts at times with rerating both stocks and crypto, i wonder where it shakes out from. >> guys, a new season of "i think you should leave" coming to netflix next month, but investors thinking the same about the stock. credit suisse tries to stay positive, they upgrade to outperform as they say sub growth will normalize in q4.

julia has more on that >> and netflix shares are up about 2% this morning on that upgrade to outperform from neutral at credit suisse credit suisse expect subscriber growth to normalize in the last quarter of this year and their survey found high user satisfaction especially with content and they say this gives netflix a roprotective mote. and they see a strong content shat slate coming up, and this is after netflix has far underperformed many traditional media stocks in the last 12 months and sly a com is up 86%, disney up 60% and discovery up around 45%.a c up 60% and discovery up around 45%. there are concerns that markets are saturated and that netflix will have to invest in new shows to compete with rivals and there is also that criticism there laura martin that netflix

is losing out on substantial rev new by not offering an ad supported version of the service. netflix is still valued at a higher price to multiple and the question is whether it should be valued more like a tech stock or lower valuation of the media stocks or whether those hard lines between tech and media valuations are far less relevant now that those two worlds have converged. though netflix has underperformed it appears over the last year, take a look back at five years, investors have held the to being that long and have soon a dgrowth 500%. and viacom and cbs down 17%. so now as the reopening continues, we'll see whether subscriber growth can continue and whether they stop streaming as much and feel like they need as many of those services as wet

get back out into the world. >> netflix has always been -- go ahead, carl. >> i was just going to say the other bit of news that kind of got overlooked this week was the spielberg deal and amlin, some trying to frame it that they would start to emphasize quality rather than shear volume and i wonder what you might think that means for the rest of the year >> i would say if you said that to netflix, they would say we always emphasized quality of content. they have done a lot of bof big deals especially with tv creators so if you look as they invest in the film content, i think this is more of the same, the sense that they are willing to pay top dollar for premium content and they want the biggest names in the business what is hard here for spielberg is that he will be continuing to produce content for theatrical

distribution through universal which is under comcast so i think that we'll see more of a land grab for top content creators and more of an arm's race to get the most premium kept out there everyone wants content right now, that is what gets people to subscribe. >> so what does that mean for consolidation? i'm curious as to what you made of that "journal" report that comcast might have to do a deal in this space, perhaps a roku or cbs viacom to compete in the streaming space. do you think that we'll see more or dganic growth or more m&a activity >> i do want to note that they said that the report was pure speculation. and i want to note that lot of people have been talking about the fact that viacom cbs is the next natural acquisition target out there in part because alone it is probably sub scale to really compete alongside netflix or a disney plus

so the question is, is viacom cbs too small to stick it out. so there has been a lot of speculation around that. and in terms of an nbc universal comcast, would they want it buy an asset like that or parts of an sasset like that. there have been a lot of conversations about which target height help bolster the content library, but brian roberts says they don't think that they need any of those assets. i think a lot of the independent studios are getting bought up and so other targets to take a look at is lionsgate, stars, and some of the smaller players now that mgm has been taken off the table by amazon. but i think that people will be doing all of the above, investing organically and also looking at potential tie ups to create the kind of volume that you need to compete. and netflix although remember companies leak peacock are taking a different approach, they are doing that ad supporting content strategy which means that they don't need

to compete eye to eye, they are trying to do something very different in terms of the consumer proposition >> and you start to see them each carve out slightly perhaps more differentiated spaces julia, a great look at the landscape. coming up, c3 ai ceo says that everybody needs to return to the office. he join us on the other side of the break. 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. i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your next step. see that you do. would you like some coffee? workday. the finance, hr, and planning system for a changing world. ♪

a check on virgin galactic shares up almost 38% after getting the green light to fly passengers from space, already have about 600 reservations on future flights priced between $200,000 and $250,000 each richard branson himself considering making that trip as soon as july 4th weekend and by the way that is two week before kjeff bezos announced tha he would fly back to space >> this one has been all over

the place. perhaps to the moon eventually as the u.s. meanwhile steady progresses toward a fully vaccinated future, is remote work the new post-pandemic norm? our next guest says it probably shouldn't be and that the return to in-person collaboration pushes towards growth. ceo of c3 ai is joining us now tom, good to see you i know it is what is not popular to say, but more and more ceos i'm talking to are circumspect about more remote work and talking to adobe, they said you have to be careful why are you so against hybrid at this stage of c3 ai? >> oh, i'm not against hybrid. nor am i against work-from-home. for many organizations, that might be the right work model. but when you are involved in creating things that never

existed before, like the s transition transitioner, the web, this is difficult to do on zoom calls. and when you are involved in supporting critical infrastructure like we are around the world, gas, utilities, power, defense, intelligence, i mean let's think about critical infrastructure. i just do the back from washington, d.c. the pentagon is open for business i mean, everybody is there leaders in the congress yesterday, the congress is open for business and this is critical infrastructure that these people -- these are mission critical applications. like we're involved in his critical applications all around the world. and it is all hands on deck. i think that there is another issue where some people like to work together. i mean, we opened our operations in north america on june 15th. and jon, it is a party these people, they have smiles on their face and stripring in

their step and they are vaccinated and they are excited to be working together so just like you and carl and deidre, i'll come visit you guys you are working together in the office and it is fun. >> yes, we are in the office together i mean, we're a distributed show dee will be on the west coast pretty soon. she hangs to cover things from all over but your point is well taken that especially creative conflict can be really hard to have when you are all remote as we saw from base camp just a couple months ago. does it have to do perhaps with the level of dynamism, how much it can afford to have people remote >> i think it does i think that it is the nature of the work, the nature of the people you employ. i mean, the type of people who work at cc3 are outagree, and

they like to work together on teams. and this involves the power of what we call collective iq this is the way we work, this is how we've always worked. as you know, we're consistently ranked one of the -- by employees on glassdoor as one of the best places to work in the world. and that is just our model some places where you are maintaining a piece of software like salesforce or something, that you can do remotely if you want to. a new category of technology, you need to get together in a room with the team, you know, and just grind it out. >> tom, i see the value of being

this person. i like the office. but i don't think that it is always a party that is too simplistic, isn't it it ignores things like the commute, high real estate prices, the burden on some women who are mothers. i wonder by requiring everyone to come back 100% of the time, do you risk losing access to the best talent? a new generation has sort of come of age. so why wouldn't they go to your competitors instead of you if your competitors are allowing some kind of hybrid or remote workplace? >> i think that the nice thing is, you know, there are lots of opportunities for people if people want to work from home or stay at home for mothers, they can go to work for salesforce or google or facebook those options are there. and they should work at those kind of companies. >> c3 ai is not an option for mothers who want to work from

home >> understand we had 52,000 job applicants last year we hired 300 people. and these are people who want to work from the office and they want to work this teams. and so for that type of person -- >> are you not narrowing your pool what if the best talent is a work -from-home mother or somebody who needs a bit of flexibility? you are prepared to say work for one of our competitors >> absolutely. and i introduce them to our friends at google and facebook and other companies. absolutely talented people, if this is what they want, you know, absolutely we encourage that. but if you like to work in teams and, you know, for that type of person, we have a great place to work look it up on glassdoor. so we have a unique culture. we're on a his to, you know,

accelerate growth, to establish leadership position in enterprise ai. and every rproblem we're solvin has never been solving before. we're in the business of inventing things that didn't exist yesterday and what we invent tomorrow will not have existed today and i believe that is difficult if not impossible to do in a remote work environment. congress is not working and the pentagon is not working remotely >> so the guess the question would become if there is a negative exsterterexternality, who allow it lag maybe over the next three to five year horizon? there th . >> there is a huge experiment from ibm and yahoo! over more than a deckdecading go and they

that their workload was hlow. and so they changed had policy i don't know, i guess conceivably it is possible to have high performance work -- high performance enterprise with a highly distributed work force working from home, but i think that it is pretty difficult. >> and i think, tom, there are a lot of different models we'll have to check as you've mentioned. apple is offering some flexibility but they say expect to be in the office monday, tuesday, thursday. and at intel, saying labs and fabs, you have to be in the office if we're changing chips and so we'll continue to track that productivity and that droet and see how it shakes out. tom, appreciate you giving us your perspective >> thank you good conversation there.

and staying on that note of returning to the office, next week i will be live from our san francisco bureau at 1 market, it has been under construction, something fun is coming, but this will be highmy first time k t in 15 months and i can't wait to see the crew this is the view that you'll see next week, we have a great week of shows planned and some special guests lined up. i for one can't wait to be back, but it doesn't mean to the point that we were talking about that flexibility at least some agree of it isn't good >> bring a jacket, dee >> yes it is chilly people don't know this, it is chilly in san francisco in the summer >> it is but one of our finest sets and we can't wait to join you there maybe later in the summer. in the meantime, citi says this is the top underowned stock post-pandemic. is it time to add to your

portfolio? we'll tell you what it is when the analyst joins us it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ at cdw, we get these signatures here, here and here. adobe sign orchestrated by cdw, automates esigining across devices to bring organizations together. protected by industry leading security 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

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resetting here near the bottom of the hour, welcome back to tech check. nasdaq is looking for its third straight record close, what would be its 18th of the year and already on pace for the best week since april we'll get to more on that in a moment but first let's get a news update >> good morning, everyone. in the last 0 mi30 minutes, the justice department saying that it is suing georgia over the voting law >> today the department of justice is suing the state of georgia. our complaint alleges that recent changes to georgia's election laws were enacted with the purpose of denying or abridging the right of black georgians to vote on account of their race or color in violation

of section 2 of the voting rights act shash shares of nickt nike % and a measure of inflation that the federal reserve closely watches posted its biggest gain since 1992, jumping 3.4% in may compared to last year, although that is this in line with wh economists were expecting. >> and cdw is called the top underowned name to buy and citi is joining us to explain. jim, good to see you >> great to see you. and society is coming back and as we come back, we look at

stocks that are underowned and there is some leverage and also hey what parts of society have been underperforming, they are about to come back and we think that we have found a good winner here at cdw. >> it is not the name i would have guessed what about it do you like other than the fact that it is underowned >> to be honest, lots of parts of society, governments, state, municipalities and school systems have really struggled to allow their employees and teachers to work effectively during coronavirus now that we're coming back and they are in the office, they will mandate a more flexible work/life balance. earlier you talked about companies where some of the employees are coming back just a few days of the week or not every day. and they have found out that they cannot effectively communicate and work and they will need solutions teachers are fantastic they are fantastic at teaching but they are not your i.t. help desk it is not a good use of their

time to be logging into take control by video and audio if it is off cdw will help all these entities, school systems and municipalities, allow their i.t. systems to be upgraded in the new anyonege today >> and your broad view is that as we come out of the pandemic, supply chain is an obvious story. and as a result inventory builds happening. double ordering is happening and that is leading you to some of the jbills of the world >> yes, and you saw the positive news on the rev news and earnings and outlook was strong. and there is not a lot of pressure on pricipricing, and wi routers and things like that, not a lot of promotions simply because it is harder to get the chips. there is less containersing for back and forth on the ocean, less flights in the air and so that means that there is less

product available and no reason to get aggressive on pricing and it is helping out the companies with their margins and also note the view of let's produce it all in one location, whether china or india, that no changed because what if in the future there is more unrest or power or water shortages or another pandemic companies want to mitigate their risk and have locations of production not concentrated by tie ve diverse and dispersed around the world. >> and i know that you are highlighting some of the underowned stocks, but what does it mean for the higher flyers, the momentum names in tech that are much owned do you think that they continue to come back as we've seen over the last month or so >> well, begin that interest rates are so low but yes they are increasing, we have seen a

shift from the high growth to the value. that definitely has played out and those multiples of the high flyers have indeed seen some compression. with hat, we want to note also there is a lot of names commonly talked about when you are having coffee or out walking your dog and things like that thousand w 000 we're looking at unknown names and like cwd and we like apple, everybody those about that, but apple is not our top pick and then we also like synnex and flex and avnet these are names that common people don't talk about and we want to bring attention to those because they are likely to see a big uptick tin sales which will be positive margin and result in earnings and cash flows. >> one of the reasons that we love having you, jim fresh ideas, always good to see you. have a good weekend. >> thank you outside of tech, we did want

to give you an update on that collapse in surfside, florida. the president has approved an emergency declaration declaration and machiniemergenc are digging around the clock searching for survivors. the news with shepard smith will be live from surfside tonight with the latest and what may have caused the collapse coverage starts at 7:00 p.m. eastern. ♪ it feels so good to be cared for. ♪ ♪ back up now, ♪ ♪ just a little more. ♪ ♪ the feeling someone's always there, ♪ ♪ just to show how much they care. ♪ ♪ the feeling you're not alone, ♪ ♪ now she's a part of your home. ♪ ♪ with so much to protect each day, ♪ ♪ caring goes a long, long way. ♪ ♪ nationwide is on your side. ♪♪

esg investing getting focus this silicon valley. twilio and asana agreeing on a dual listing the governance part more in focus here ltse asks companies to commit to long term performance and taking customers and employees in to account and explain how their boards oversee long term strategy they started trading stocks back in september and karl, carl, i this is an attempt to frame the way companies get scrutinized around some of the longer term more than quarter to quarter measurements that we hear xis and founders talk about so often. >> and one more evolution of how

these things work as we try to keep an eye on it. >> i remember covering this a few years ago when it was getting on its feet and high h m main question is what makes this different from the traditional stock market, most americans actually do hold their stocks for the longer term. and what is interesting, this is backed by vcs. they typically have a life span of 7 to 10 years so interesting that they are the ones preaching long term holdings when practice to cash out after a certain number of years and raise another fund so i wonder how that is more long term than perhaps pension funds and mutual funds but it is an interesting development. but a lot say that they are focused already on the long term and even companies that went public years ago >> and speaking of which, keep your eye on twitter, down this morning but still up double digits since monday. it is on pace for its best week since february and on the list

today of s&p gainers, it is number five.

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to take workflows further, trust adobe on it orchestration by cdw. ok, at at&t everyone gets our best deals on all smartphones. let me break it down. to take workflows further, trust adobe 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. asana. we brought you interviews with the ceos of con fluent and doximity and this morning cnbc.com is profiling some of the big winners as trading began,

notably four silicon firms ari, a few of the names not surprising >> not at all. benchmark and index are a couple firms that have been working together for a long time, each notching billion dollar gains in con fluent emergence has been a huge firm and the other one, inter-rest, that is how when you hear so much, it is indicated early and don't tend to hold huge stakes by the time companies dough public because of dilution but they were able to hold a large enough stake at the time of the ipo >> what is your take on how it worked out for, yes, the early investors but later investors too. i know you were looking before the stocks started trading at what their expected market caps

would be and sort of how the valuation shook out. it iseems like confluent was priced better. >> yeah, it was priced tighter it was pretty evident that it was a better known name certainly among the larger investor base. they sort of priced for a typical pop in the 20% to 25% range. doximity has not raised capital, it is not a name particularly well known despite being based in san francisco and they have done very little marketing. it is basically a president trump knproduct known by the medical professionals and very few other people i think that it gets them a little work coverage and shines the spotlight on then as well. additionally, they reserve 15% of their stock for doctors so they were able to make quite a bit of money for the doctors who got in at the ideal price as

well >> and the ceo was glad for the for because part of that went to those physicians that were able to gsome allocation. some of the names that did not make a lot of money, names that have been such active players this year, softbank and tiger dlo global, how did they miss out on these? what did you make of that? >> believe it or not, tiger global has gotten in on every single ipo >> shocking. >> and every company -- every company operates a little bit differently. there has been a trend in the last few years to raise these huge pre-ipo rounds which has been massively beneficial for tiger global because they can basically double, triple their hone in a couple years but not every company needs that kind of cash infusion heading

into the ipo and there are some management out there that prefer to limit todilution and hold ont a fair amount and not spend like crazy. and doximity is in that category i've spent time talking to their ceo about their cash conservation and their approach and it is very different than a typical software company >> ari, thank you. as a reminder, make sure that you head to cnbc.com to check out the full article and a $4 billion valuation, their ceo next and why ether is on the move 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. (♪ ♪) whether it's a technology first, (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ ♪) whatever you hope to achieve for your business, cloud first helps you get to value...first (♪ ♪) let there be change accenture

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during the same time period. and crypto impacting robinhood as well, the trading app hoping to go public this month has had its ipo plans delayed. this morning new information coming to life that major reason is the s.e.c. questioning its growing crypto business. and blockchain data platform announcing a $100 million series e funding. taking the company's valuation to $4.2 billion. here to talk more about the company and the raise, chainalysis ceo. and we've soon companies in the crypto space raise lots of money doubling, tripling valuations in the private market but still questions over how public market investors will value them coin base down over 50% do you think that money and valuations is more flush in private markets than public

markets at the moment? for crypto companies >> so i think that is part of the trend of course, but i think that one of the things that is very important to look at here is we're different from other companies in in b 2 bsas softw service. software built on top of our data platform. and that helps inform government agencies and other public sector institutions in 150 countries worldwide. and 30 countries worldwide 150 of them. and we also help on the private sector side by selling data from our data platform that informs the markets. so some of the stories we just heard about ether and so on, we can help and predict and inform and terms of trading advice. we are selling data that tells you how the market moves and where the funds are blowing. we are not directly tied to

crypto economy that's slightly different. signalizing a lot of growth in the company. >> okay. thanks for that nuance i wonder, as you provide in data to allow users to see markets signals, are you providing that institutional investors, retail investors? both we are -- we are. >> we are focusing on institutional investors be, b 2 b, also process from the public sector there is definitely a need for more data both on of course illicit activity as we've been serving our customers with for a long time now but also on general -- on the market data and market intel >> does that create a further divide between, you know, access for information which has been such a hot topic does that give an advantage to institutional investors as the space matures. >> there will always be an advantage for institutional investors. we already know you would use

satellite to look at how many cars are in the wal-mart parking lot to understand what you would expect from the next earnings call i would say that is always the case and the strive for information is constant. and it's going to be even bigger in crypto. i would say the most valuable asset in the digital economy is data >> wow, that may not be so encouraging for retail investors out there. part ever your business, michael, is flagging regulatory risks in the space i want your view on tether now, the third largest cryptocurrency by market cap, twice the trading volume of bitcoin. a lot of debate over the role with some calling it the week leak in the crypto currency economy. do you agree with that assessment >> i actually don't think so i think that tether has shown over the years that they have been able to -- to actually build the bridge between

traditional finance and crypto and able to move a stable coin online they've done that extremely well over the years we've seen there is backing for the currencies and we have no reason to believe that's not the case today. >> michael, thank you so much for being with us. congratulations on the funding round. and we hope to talk to you again soon. >> thank you so much did you miss part of the show food? well, follow the podcast listen any time anywhere, available wherever you download pod casts. tech check is back after one more quick break ♪ ♪ i had the nightmare again maxine. the world was out of wonka bars... relax. you just need digital workflows. they help keep everyone supplied and happy, proactively. let's workflow it. then you can stop having those nightmares. no, i would miss them too much. whatever you business is facing... let's workflow it.

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the creator economy got news this week with microsoft positioning itself as their ally in giving options to monetize. what does it mean to have control of your intellectual property i talked to one entrepreneur a google employee by day and hiphop recording artist and label owner by night about what freedom really means. >> i'm case patterson. stage name call my isa corporate by day working big tech at night i'm an independent dual board charter hiphop

artist >> first things first. >> we're talking about juneteenth this year and the problem with owning people, right. how that should -- >> yes. >> we're focused on not being owned. but maybe we're not focused enough on ownership of our intellectual property, of our ideas from the business and economic standpoint. >> as an independent artist, whose dropped music independently, has done the revenue minus costs, for myself, if i just add all the midlandmen inl eem only getting percentages. because of the position i'm in i'm able to do what amtzen did in the earlier years, which is just overinvest. i'm willing to be in the red if it means rolling in the organic way i intend to grow >> all those percentages and appearsteres allow for developers to think about too. you can scan the qr code on the screen it will take you to the website to watch the full piece. cnbc.com/tech check.

follow our linkedin and twitter page show accounts to for more cone dee. >> okay, john. meanwhile, didi, targeting a valuation $67 billion in the ipo on the new york stock exchange a more conservative take from the previously-reported $100 billion target perhaps a sign the public market investors remain cool on ride sharing, uber remember was at one point expected to fetch a $120 billion valuation in its ipo more than two years on the market cap remains under $100 billion, despite a ton of acquisitions. and focus, it has been a marilyn underperformer this year, even next to smaller, more focused rival rivet. didir has the overchang of anti-trust in china. authorities in beijing launching an investigation in the ride sharing firm and guys, looking at the gig economy, there is so many challenges and obstacles and didi certainly is known as

the chinese ride share giant but competes with uber in places like latin america where there are price wars, as you know lyft and uber in the u.s. say the market is a little more rational. >> yeah, interestingly, this valuation would put didi right in between lyft at around 20 billion and uber at around $100 billion. and, carl, i wonder whether there is opportunity there, because didi is so widely geographically distributed, even though based in most of the strength and business is in china, or, you know, whether the regulatory issues are a hangup though we got no shortage of regulatory issues in the u.s. either >> that's true and as we said before, especially on mobility, it's a win for the consumer over the long haul if you look at competitiveness and pricing, not to mention the ipo pipeline between this and krispy kreme and buzz feed. it's interesting in the spac and ipo environment. one reminder, guys, as we wrap

up here, the news with shepard smith is live in florida tonight. for more on the devastating building collapse, we still have over 150 people unaccounted for. that coverage begins at 7:00 p.m. eastern time right here on cnbc that does it for "tech check." the half starts now. the "halftime report" i'm frank holland in for scott wapner front and center, the race to build america's infrastructure, the historic deal out of washington helping to lift the markets. and joining me for the hour brenda vingiello, c oichlt pete najarian, jim leiben that will and kevin o'leary chairman of o shares. ets. kevin having tech problems to him in a minute but first the major averages stocks higher with the s&p 500 hitting a record high and the dow up more than 200 following the announcement from washington and we're talking about it with the development committee right now. kicking it off with you, pete. let'