meantime, getting a check on the markets. everything is lower. that's going to do it for "squawk on the street. tech check starts now. good tuesday morning welcome to tech check. i am john john with jon fortt and dedra. elon musk added twitter board member to his resume try to define the word passive well shot for payments, discuss the call on that amazon launching rockets, taking on star link, why they are spending $10 million in space. we start with twitter announcing elon musk is joining the board after he bought more

than 9% stake in the company to be the biggest shareholder, saying he is planning significant improvements in months ahead, despite that filing yesterday, saying it was a passive position what is next for twitter and content moderation our next guest has been an outspoken critic of censorship across big tech. joining us, david sacks, former coo of paypal. good morning great to have you. >> good morning, great to be with you >> let's start with what elon musk could do at twitter how could he re-invent twitter with dorsey with true open sourced technology do you think that's what he has in mind, how might that change or eliminate content moderation by the company itself. >> i don't think what's needed is a technological fix, what's needed is change in policy the fact of the matter is about a decade ago you had then ceo of twitter say we are the free

speech wing of the free speech party. that's how twitter historically thought about their role in the free marketplace of ideas. fast forward to today. they say twitter is not bound by the first amendment, have their own conception of what healthy debate looks like and they're going to enforce that. we've seen the platform keeps growing and people keep getting excluded in a platform in what seem to be arbitrary, willy-nilly ways this is based on his tweets, what upsets elon he believes in freedom of speech and freedoms in general. he is an immigrant to america who availed himself the freedoms that america provides, and i think he has been outspoken that twitter should be an open town square and free marketplace of ideas. i think that's the influence he is going to bring on the board of directors i think it will be a great thing. >> but david, what better way than to make it open town square than changing technology which

we know prog and dorsey and musk have been interested, wouldn't that make it a truly open town square what you're talking about is a policy which we have seen trying to be done again and again, then you run into problems like zuckerberg has, not pleasing any side. >> well, look, i think they need to stop the arbitrary content moderation look what's going on the last couple of years. you had many pronouncements about covid that later turned out to be true or highly plausible, lab leak theory is censored, then the true and prevailing theory. the hunter biden story that was son sword before the election, now everyone acknowledges it is true, including "new york times," "the washington post" acknowledged it was authenticated, the story was true, yet censored as disinformation by social media, including twitter. the fact of the excuse of information has been used by the people that control these

companies and the elites they represent to engage in sensorship of ideas they simply don't agree with that's what's offensive. twitter has become the town square, the town square has been privatized, control of that rests in the hands of twitter executives if they sensor views they don't like with no basis whatsoever, then it deprives all americans of a right to free speech. i think we need a counter balance. i think that's what elon will bring to the board of directors. he will say listen, we need to be an open town square we can't go around censoring people because we agree with ideas, there has to be a basis or principle to apply to everybody. stop making this so arbitrary. i think that's the influence he is going to bring and it is long overdue. >> it is funny, i hear what you're saying about twitter censorship, but the entire hunter biden thing before i read the "new york post" story which i did at the time i saw on

twitter, saw the debate happen about it on twitter, that's why i went to "new york post" and read the story, made my own judgment about the likely veracity of it twitter has a history of big front personalities. it is not clear that elon's interests are in line with the mass of twitter shareholders one thing to talk about twitter the product and the ideal of free and open speech, another thing to talk about twitter the business and ceo who is likely to be hauled in front of congress and have laws tweaked or changed to effect what different political parties think twitter ought to be. isn't that a potential problem elon doesn't need twitter to be a successful investment, he is probably more interested in being an open market maplace of ideas. >> that's what i find exciting about the news with the hunter biden story, there came a point that twitter and other networks censored that

link, you could no longer link to "new york post. they tried to suppress that story, a story we now know is true, a story that i think could not be more relevant to the situation going on in ukraine because it described hunter biden's business dealings. the american people had a right to have that information and take it in account when they went to the ballot box last november for twitter and other social networks to nix the story because it didn't help their preferred candidate, that's interfering in democracy, manipulating an election that shouldn't be allowed. look, you're right that elon's interests here, he has enough money, richest man in the world. i don't think this is about money for him. he may have some good product ideas for twitter as a power user of the product but i think it is mostly about him trying to influence twitter to return to its roots as a free speech platform, as an open town square will people in washington not

like that? well will the ceo be hauled in front of the judiciary committee? probably, but they don't get to decide and interfere with the first amendment. if congress wants to influence a private company to suppress speech, that itself is a violation of the first amendment, and they shouldn't be allow to do that i think what the ceos of tech companies need is more spine and next time they're hauled in front of congress should say to those senators listen, senator, you don't get to do that we have a first amendment in this country >> david, do you think there's a constitutional right to tweet? you talk about the first amendment. do you think tweeting is what the founders had in mind when they talked about free speech and what do you think would happen if elon wanted to suppress people that were short tesla? >> he is not going to do that. free speech is a value that's enshrined in the constitution. the founders knew it was

fundamental to democracy we all should have a right to free speech. the thing that the founders could not have anticipated is the town square would get privatized we used to be town squares all over the country, you could get your soap box out, stand on courthouse steps, draw a crowd and speak your mind to anyone that wanted to listen could gather around and listen where do people gather today on social networks like twitter. this is the new town square but it has been privatized, control over that town square isnow in e hands of a handful of executives they kick you off, you don't have free speech in this country and that needs to be restored. >> you can no longer go on the sidewalk that right still exists. >> yeah. and you look like a crazy person if you do it >> so it sounds like you in a way want to see it nationalized or private advertised. the company itself >> well, no. what i want is for the town square to be liberated i want them to live up to what

the previous ceo said, twitter is the free speech wing of the free speech party. that's what they used to believe. today they think they know better they think they can regulate a healthy debate, meaning if they kick people off, somehow it will lead to a better debate. the problem is they're extremely one sided how they apply the rules. we have seen it over and over again. if they can't do it properly, they should let everybody on the way that they said, answer to that is more speech. >> i think we're having a problem with deirdre's mike. while we have you, fin tech, initiating a bunch of names. $1.5 trillion opportunity worldwide, bullish on shop and paypal and block i think they're talking 6% growth for the industry for the ensuing decade anything wrong with that call? >> no, you know, i'm not a huge

public mark investor, more of a private company investor they'll probably do great in the next decade. i don't have a strong point of view on that >> so what do you, what is your strong point of view when it comes to fin tech environment as it applies to consumer, crypto, and don't talk often enough about fintech innovation in small business and enterprise. >> i think so. what we have seen the last several months, fintech has taken a big hit. some companies i have been involved in since their seed ground have seen stock price go down i think that's a result of interest rate pressure, but also a lot of uncertainty about where the economy stands we saw the yield curve invert recently it seemgs s there's concern whe the consumer will be we know there's a slowdown can't say yet if there will be

recession. there's uncertainty about the economy. everyone is trying to figure out where the economy will be in six months, where inflation will be in six months, where interest rates will be in six months. conditions of extreme uncertainty. stocks that are growth stocks where earnings are far in the future, they have been hit hard. you're starting to see that trickle down into silicon valley ultimately, they're great companies and they will recover, but you're seeing huge correction in valuation because of the uncertainty >> do you think that correction is done? >> well, i think it is done if interest rate expectations don't materially change from here, but if we end the year and inflation is not transitory and is persistent, if say the ten year t bill is at 5% expectation instead of 2.5%, then you would see further correction

current price levels reflect certain understanding where interest rates will be in five or ten years, that's based on inflation. if inflation ends up being higher than people think, despite what appears to be slowdown in the economy, you could see further correction there's also up side to that, if inflation proves transitory, there's up side to this. >> david, you laid out last week this idea of a burn multiple for private companies. you think that good startups shouldn't spend or burn more than $2 for $1 of recurring revenue. that applies to private markets. can you apply that to even the public fintech space feels like there's a race to acquire users, spending so much money on it. you have a paypal that says they're not going to focus on user growth number any more, they're going to focus on squeezing more money out of existing large user base but wall street kills them for it >> right yes. i came up with a rule of thumb

for founders to determine how much money they should be burning. as a private company, what you want to do is compare the burn in a given quarter or year to the incremental arr you generate for example, if you were to burn 20 million in a year to generate an extra 10 million of incremental arr, that would be a pretty good burn multiple. if you get it down further, that's better. burn 10 million to add 10 million of arr, that's an excellent burn multiple. sometimes what we'll see is companies with burn multiple of 3 or 4, that's not good, and you start to wonder about the quality of product market fit because the company appears to be spending a lot of money to buy growth this is why we came up with the metric as a company gets closer to being public, burn multiple should go down, the company should be closer and closer to profitability. you want to look at how much money companies are burning and how much growth they're

extracting for burn and whether it makes sense i think this is what the public markets are doing now. in a boom market, only three things that matter are growth, growth, growth in a down market, recessionary market, three things that matter are growth, burn, margins. and it is not growth stops mattering, it always matters in a down market, burn and margin matter as well, investors take that into account, that's the balancing act you're seeing now. high growth companies burning too much money get rerated >> certainly seeing that play out. david, thanks so much for insights this morning. talk to you soon >> good to be here. amazon making a big investment in space. and kathy wood buys the dip. and ceo of warnermedia "tech check" just getting started.

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revenue outlook from mid single digits to 7 to 10% the company highlighted three major demand trends. net zero will be the enabler to digitization 90% of executives said they're moving out of aja, and back to the united states, lastly, you have persistent labor shortages which incentivized robotic processes and automation they provide chips for cars, batteries, predicts there will be 8 times the number of evs on the road in the next five years, requiring three times the number of semiconductor content clearly they see further demand, despite the fact there's already a strain on tight supply chain and we continuously talk about this i want to talk about stock the stock is down almost 5% now. much of that could be driven by the fact that goldman, sachs put out a note lowering the buy

rating to $183 from 207. they point out adi does better in cyclical down turns, has stronger free cash flow. according to notes coming out now, there are concerns about demand going forward, sentiment on the street, any shorting going on saw reaction with micron stock last week. lastly, maybe investors are not completely sold by this investor day. >> christina, thank you. we're going to stick with hardware with inflation rising, softening hardware demand is the rerisk for investors. joining us, jim suba good morning what do you like in this space >> to be honest, things are dynamic. prices are going up, consumers are spending money we have a buy rating on apple with $200 target price people buying higher asp

ratings. we are lapping covid and work from home, many people bought items in the house they're happy with top pick amongst all our coverage is a supplier and contract manufacturer that makes a lot of things for apple and other companies, that's jbl, our top pick we think hardware is here to stay, but there's no doubt as people get out of their home, start to go back to work, we'll see shift from consumer spending to the corporate side. every conference room in your facility, mine, needs video conse corroboration. goes from consumer to enterprise. >> losome may asome logitech wa pandemic beneficiary, there was a shortage of web cams why is that not the case based

on how they structured themself? >> the thing to focus on is people the way they're spending on peripherals and computing devices, whether it be a web camera, audio that you're using and i am using, or a mouse the peripherals, people want higher end, higher quality not something that's junk. when you look at higher end higher quality, whether it is a video conference room, working from home or some hybrid environment, people are spending money on quality they're tired of something that's lower quality and isn't working at the time they need it, such as us talking live on tv now or interactive work environment. that's why we believe the higher average selling prices are what consumers keep spending on now employment and money people are making is allowing people discretionary income we haven't gone on many vacations for quite a long time,

people found they prefer higher quality average selling price devices and units over lower quality. >> jim, everyone is pouring over the app store data wondering whether or not, they did guide down sequentially for services growth, but is the pressure onto maintain momentum for the rest of the quarter? >> the app store is absolutely critical for apple no doubt about it. we are facing difficult year over year comps. what that means is last year it was so good, this year will be more difficult with that, important to note people are spending more digitally, through streaming content, whether through interactive things, purchasing of things. app store is absolutely important. important to note also the apple stores are for the large part globally open now compared to a year ago and when consumers come into the apple store, they typically have a good experience. that experience is they come in, you have a certain price point and they typically upsell you.

you're so beautiful, so handsome, don't you want to buy more storage for yourself and your friends, don't you need a connecter, ear pods, apple watch, and you leave the store spending more than you probably initially planned but you feel good about the experience and they teach you how to use the device, so the apple store openings to us is a very material thing of now today in society those stores are back open >> well. jim suva, thanks >> great to see you all. still to come, warner media jason kila is -- kilar is with us offer you just can't miss. with 5g ultra wideband in many more cities, you get up to 10x the speed at no extra cost. plus six entertainment subscriptions, included! like disney+, music, gaming and more! saving you over $350 dollars a year. (mom) delightful. (vo) and for a limited time, get a 5g phone on us.

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welcome back to tech check in a moment, julia will bring us an interview with jason kilar. first, a news update with seema

modi acute brand taking 10%, despite posting erjs and revenues that beat estimates shares trading at the lowest level since last july. coal stocks surging following the eu proposing ban on russian coal imports. pea body energy jumped to three year high, up about 4% arch resources, alliance resource partners notching strong gains at this hour. u.s. strayed deficit remains near all-time highs in february, even though exports hit a new record imports of goods and services also set a new high. federal reserve governor expects methodical interest rate increases and predicts rapid reduction to the balance sheet to bring u.s. monetary policy to more neutral position later this year her first remarks since the fed raised rates last month. thank you so much. skn on takes on spacex and elo

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welcome back big changes in the media sector. get over to julia boorstin >> i am joined by jason kilar. we are breaking news today, jason. you announced moments ago telling your employees you will be stepping down, leaving the

ceo role ahead of the warner media discovery deal closing we want to start with the news why are you leaving now? why did you wait this long and what are you going to do next? >> so to answer the first question, i have been here almost a year since the deal was announced for a couple simple reasons. one, i love the team, the mission, i love this company there was never a doubt in my mind i was going to stay through the end until the transition and that's the short answer to your first question. the second question, i don't have any grand proclamations i would be happy to talk to you about at the right time. not going to a beach to retire, i'm excited what comes next. right now, i am focused on warner media. >> focus on it until friday, your last day. we expect the company to start operating as a combined company without you at warner media and

warner media and discovery start operating together monday. what you have been focused on, hbo max and the streaming service was a focus. you made the decision to stream all the warner brothers on max for 2021 there are questions if the box office willfully bounce back once consumers got a taste of that convenience how do you think that decision could possibly change the movie industry and what's next for the movie industry >> well, i think over the full arch of media's history and this goes back to the 1940s, julia, which is the consumer always gets to make the decision in terms of where this all goes and i do believe there will be a healthy theatrical business for decades to come. but you'll see more imax worthy spectacles, those will be the stories that compel people off the couches, and i believe there

will be a lot of convenience with regards to people watching more and more motion pictures in the home, but i see both happening. i don't see the decline of one coming at the expense of the other. >> one other streaming service that you oversaw the launch of was cnn plus jeff zucker left and we know that discovery is going to be offering a bundle of streaming services, you moved forward with the plan to launch separately. are you concerned it could undermine the potential to be rolled into a bundle and why did you go forward with this launch now rather than waiting? >> i'm glad you asked this question we have been hard at work on this nearly two years, so timing of the launch has been set about a year and a half. and it is similar to a question, why launch hbo max you launch these things because

they're in many ways the future of the business. the business of cnn plus was twofold, have a stand-alone service for those folks interested in a news product like cnn plus but have the ability to have it bundle into hbo max and purchase cnn plus and purchase as a stand-alone app or part of hbo max that's always been the vision and i suspect it won't change with discovery >> speaking of streaming strategy, we recently saw disney announce to do an ad supported option, even talk netflix which avoided ads for years could be considering an ad supported option hbo max has an ad supported option, do you wish you launched it sooner and do you think advertising is essential to the streaming wars going forward >> so to the last question, julia, i absolutely think advertising will play a central role in evolution of streaming

the next several decades for a simple reason, i think anytime you give customers choice and empower them to make the best decision for them, it is a good thing. what advertising does, it allows people to pay less for a streaming service, if they choose to do so. i think that's a good thing. so to the first question, would i love to launch the ad supported version of hbo max earlier, of course i wish we had twice the size technology team to be able to do everything at once, but i'm really happy we were able to launch the ad supported version of hbo max a year after we went live in the u.s. with ad free service. >> that's fascinating. wonder if netflix could potentially say something similar a few years from now if they go down that path back to cnn plus i wonder if you can share early color or number from the service, how do you think success should be measured a year from now? >> sure. so it is ahead of my expectations in terms of where

the subscribers are, engagement are, receptiveness in terms of response to journalism of cnn plus i couldn't be more proud of that team it is not an exaggeration to say that that is the future of cnn i think anyone that does not have a scaleable robust paid business model digitally doesn't have a strong future and a lot of credit i will give to "new york times" and "the wall street journal" because they have a robust digital paid business model, now cnn does as well. >> there's been so much fragmentation in the streaming space, so many options right now. now that you're going to be leaving the space, give us your perspective who is going to win, how many streamers can possibly succeed, especially as you see higher churn, more concern about consumers just pulling back how much they're willing to pay for? >> i'm glad you asked the question, julia. i am going to set aside apple

and amazon because they have their own business models, serving retail and hardware devices, but i think when it comes to story telling companies, there's probably three that ultimately are scaled players. we're one of them, the other two netflix and disney i think it will be a hard road for others to catch up and i think as a result, you'll see changes happening in the industry the next several years. >> speaking of changes happening in the industry, david sas lof has to cut millions as he combines the two companies what's your advice to him on what he should do or avoid to preserve some of what you built and some of the intellectual property >> i'm always a believer in the adage, if it is not broke, don't fix it, and i really would point to the unusually positive trajectory of hbo max of what's happening at cnn plus in the early days and most importantly

the story telling momentum of this company we are in a group unlike any other in terms of how we resonate at the box office with batman and all the movies to come on the series side, operating in a manner i have never seen and i followed warner media a long time if there's counsel, start with story telling and stick to that and also recognize what's working really well, which is clearly the streaming side of the business and gaming side of the business as well. >> have to find billions of dollars to cut the question is where you should do it. looking at your at thetenure, ag you wish you had done differently, mistakes made >> i would say the biggest wish i have when i go to sleep at night, typically late, i wish there were more than 24 hours in a day. i don't mean to be facetious when i say that. as chief culture officer, i

can't spend enough time with this team, given the story telling we do, not enough time to spend with creators and story tellers around the world if there's one wish i could have come true, it would be there would be more time >> speaking of being chief culture officer, there's a lot of talk in the media about rival media company disney and how it handled its own internal culture and this question of how it manages the reaction to the don't say gay bill in florida. how do you think of the role of media companies to weigh in on cultural and political issues like that? >> i think it is ultimately a business issue yes, there's politics involved but also a business issue in that we strongly believe that anti-lbgtq is anti-business. we don't think one person's life or identity or one person's love is any less than or less worthy

than another we feel strongly about this. this is about business as much as it is about politics. >> we appreciate you joining us to talk about the big news that you are leaving warnermedia as of friday. we hope you'll come back and talk to us about what you're going to be doing next jason kilar, thanks so much. jon, back to you >> great get julia, thanks. cathie wood coming down on he reft t bak weavmo aerhere.

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amazon looking to take on elon musk and star link with its broadband internet service, securing up to 83 rocket launches over five years to send satellites into space. who better to turn to than morgan brennan >> hey, carl that's right this is the largest commercial deal for rocket launches in history. speaking to amazon's commitment to make a $10 billion plus project hyper satellite constellation a reality. it will compete with star link, but others as well, one web, to offer broadband to people and services around the world. i asked the amazon senior vice president and devices and services if the market is big enough for everyone. >> if you look at the global segment for the number of people that need broadband, it is measured in the billions with a

b. these constellations will be valuable, there won't be one winner star link will be successful, i think hyper will be successful >> so the record launch procurement is worth billions of dollars in and of itself contracting with three very powerful rockets that are still under development. ari on spaces, united launch alliance, and not surprisingly blue origin to launch majority of the 3236 satellites to earth orbit. telling me amazon is on track to deploy the first two prototypes later this year or early next with a goal by summer of 2026, have half the constellation in space. no guidance on pricing, but stressing the service will be affordable, like aws or within his own segment, fire tv or kindle, it is about getting value to customers and kiper no

different. >> 8 or 10 years ago, google and facebook were talking about broadband in the sky, using balloons and drones. but we don't hear a lot about that any more. facebook at least stepped way back from those efforts. does this represent kind of a new front space in that effort in a way that will be more long lasting? >> it is a great question, jon we have seen multiple iterations of this vision of space based broadband service, internet service. the first time we saw a version of this begin to manifest was in the late '90s with the tech boom and that went away with the bust and you've seen other efforts at other types oftechnologies and capabilities, but perhaps most crucially the reason we're seeing these efforts, whether it is spacex or amazon or some of the other companies that are out there building out their own low earth orbit constellations,

beginning to meaning fully manifest now, costs have come down and technology to manufacturer satellites has come down there's more opportunity to offer a more affordable internet service from space just in terms of amazon, link telling me they're looking at ramping to 2, 3, 4 satellites made a day not that long ago that was an unheard of production cadence. >> morgan, i find it interesting this unit sits within amazon as you were talking about other companies tried, the most successful is spacex, space first company. i wonder why do you think this was built inside amazon versus blue origin. do you need different talent or do you think that it actually works? >> so i actually asked limp how this features into his business segment. you guys know it better than i do, having had conversations in the past about connected home or

cars or how some different technologies and the idea of intelligence or ambient intelligence technology is hitting its stride you talk about greater connectivity in your daily life then why not have it be natural extension to provide service to create and enable more of that connectivity, when you look around the world, as referenced there in the sound bite we played, billions are still unconnected or underserved potentially more consumers for more amazon dievices. >> that's in the model speaking of the internet check out charter, t-mobile. cable versus wireless, go with wireless says citi had broadband and wireless growth likely to slow. back in a moment your shipping manager left to “find themself.”

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ibm today announcing its z16 mainframe. still a big moneymaker for the company. ibm says its mainframes handle 70% of global transaction value because of the way the vertically integrated machines handle massive volume. i spoke with senior vice president and director of ibm research dario gil about why he believes cloud providers haven't

killed the mainframe >> when people say oh, that's a bygone era i defend it with enormous pride because if you say what's going on on a.i. or edge computing or what is going on in quantum. the story is you need specialized hardware integrated as a system to deliver the best performance and the best experience and that's exactly what ibmz does for transaction processing and now to bring a.i. into it. >> these mainframe cycles are very important for revenue catch the full interview with dario at live.forttknox.com. >> very nice, jon. turning to roblox. the ceo saw his pay package increase by 24x. steve kovac has more on that this morning >> that's right. metaverse is paying off for

roblox's david bazuki. he'll need some aggressive goals to get his big pay day his shares will invest over the next seven years if he needs to hit roblox share price it has to hit $165 by 2023, and hold for 90 days and then $375 a share at the end of the vesting period and today roblox is trading around 50 bucks a share and the question, carl, is how does roblox get there in the compania s wear of its growth challenges and adding older users by the app dominated by kids today i spoke to greg donato, and he said they're building experience by age-restricted experiences to attract the older players and the company has been partnering with brands eager to get in the metaverse like nike and nfl. they've yet to attract the broader audience i will say this, baszucki is in

the metaverse play and roblox is the only company doing it, carl. >> that's interesting. do you think the street migrates from just looking at time spent and hours spent versus some of the monetization of those hours? >> that's what you have to look at, carl look, it's not just about you ho much time people spend playing it's these economies that are being built within the roblox metaverse and the fort coknox metaverse and that's the promise of the metaverse is to companies like facebook/meta and roblox itself >> steve, thanks so much for that the nasdaq is falling this morning. losses are intensifying down about 1.7% the names leading that selling afr e ea we'll be right back.

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keeping our eye on the nasdaq falling this morning, it is near session lows data dog and some of the chip names like amat and marvel are the biggest on the nasdaq 100, carl over the last month, though, up

more than 7% so giving back some of that recent rally >> yeah. we've definitely got some of these hawkish comments from the fed ten-year above 255 as elon musk joins the board julia boorstin is back with fresh reporting about that situation. hey, julie. >> i got fresh commentary from twitter. they were asked about policy decisions and then they said twitter is committed to impartiality and development enforcement of its policies and rules and also saying the day to day operations and decisions are made by twitter management and employees. upon that seems like a direct hit on the idea that musk will be controlling the company as a board member and one thing that's interesting is i've been talking to a lot of sources this morning and because perog doesn't have a big public presence, he is not well known by investors that there is this risk now that because he's been in the backseat and that elon

musk is out there that he could start raeptepresenting the face twitter. >> exactly, julia. didn't elon musk just put up a twitter poll yesterday on whether people thought there should be an edit button he's got way more followers on twitter than the ceo of twitter and the ceo of twitter says that elon's twitter poll is going to be important which implies that they'll make decisions based on it and twitter is telling you, oh, elon musk isn't running this company. really are you sure >> a really complex situation here, but i thought that comment from twitter just trying to remind people that there is a management that's separate from the board and i think this is the weird situation that dewitter is in right now unlike all of the other social platforms, this is a company not controlled by a founder and you have jack dorsey who is no longer present and this is a company that's been out on

parental leave to set a standard for the rest of the employees and it's good and okay to take parental leave and he's not been present and he hasn't done big interviews with the press and people aren't as familiar with him and musk is the one that has a direct line to the media and investors themselves and this is an opportunity for them to start putting out their ceo who people don't know out there a lot more to try to counter whatever it is that musk is working on. >> julia, i wonder if you think we're talking nufr aenough about twitter's rivals and digital world acquisition corp down 14% on the idea that they could -- they could do a lot of damage on others' ability to engage. >> i think we have to remember that twitter is a far smaller let form, far smaller than any of those others. just a couple hundred million compared to the billions that facebook meta has. >> it's going to be fascinating to watch

certainly, it's been one of the headlines today even in the midst of the arguably more important things going on in the world, julia, thank you so much. as mike santoli pointed out online 4600 continues to be fierce resistance, guys. we're back to 4550 we'll palm beach the ten-year and fomc minutes tomorrow and maybe we'll get guidance on balance sheets after brainard's comments let's get to the half and the judge. carl, thank you so much. welcome to "the halftime report." i'm scott wapner one of the dovish members of the fed delivering a hawkish warning for investors. we discuss that with the investment committee joining me for the hour today, stephanie link, jim lebenthal, josh brown, jon najarian co-founder of marketrebellion.com and economics reporter steve liesman is with us as you well let's check the markets. i want to show you yields and that is where the storyline lies in part because you did have a good