by the way, they also say that their checks arguele the google cloud leadership have all but given up on the goal to replace microsoft 365 and shifted its efforts. so at least they got that going for them that will do it for us on "squawk on the street. "techcheck" starts now ♪ ♪ happy monday welcome to "techcheck. i'm jon fortt with carl quintanilla. deirdre is off today elon declines twitter's board invitation hostile takeover ahead then sale point shares surge as bravo takes another cyber security company private. later, mark wahlberg on warner brothers discovery.

but carl, a lot to get to today. >> yep twitter is where we will begin, guys as elon remains the company's largest shareholder but won't take that board seat after all that means that musk is no longer restricted to that 14.9% stake in the company so, is a takeover in twitter's future joining us to discuss the verge editor in chief nili patel they say to tune out the noise and says there could be distractions ahead what do you think that means >> i think you're looking at elon declining a board seat and spending the weekend tweeting that twitter is dying, that they should empty out the head headquarters in san francisco and turn it into a homeless shelter. basically trashing the company that he is now the largest shareholder in i do think that he is going to probably try to increase his stake and i think employees at twitter are increasingly nervous that the stock price swings that this drama is going to steer them off track when i'll just point this out, there's an election coming up

that's when scrutiny of twitter is always at its highest. >> yeah. the tweet references a background check do you think that he's suggesting that somehow some part of this process went awry >> well, look, he said the seat was set to take affect on april 9th. so if you look at elon filed a new 13-g today it said he was going to pass the background check and do his director and officer's questionnaire and he didn't take it he didn't do any of it so i think maybe really what it seems like is they wanted him on the board to be a fiduciary to the shareholders and voice of the company and he decided what he wanted was more drastic change he didn't want that role inside. he wanted to instruct from the outside. he didn't take it. i don't think -- who can't do a background check on elon musk. it's all on his twitter feed >> yeah. i mean, that's where the good stuff is, right? nilay. the way i see it, two likely reasons elon wouldn't want to join twitter's board, one, he

doesn't want to be muzzled by fiduciary responsibility to twitter and saturday certainly seemed to be one of those days when he was tweeting stuff that a board member wouldn't tweet. and the other is, yeah, maybe he wants to own more than 15% of the company. but the reason why both of these are potentially bad for twitter shareholders is in either case, in the near term, maybe the medium term, the stock is probably going down from here. if you're elon and you want to buy twitter, you don't want to tell everybody you're buying twitter because the stock is going to go up you want to drive the price down, have your friends buy it, and get control that way, like you were trying to put together land parcels for a headquarters deal >> yeah. it's interesting twitter is now in firmly meme stock territory. if you are retail investor or meme stock buyer, and you think elon is going to buy it, you might be incentivized to get in early. so i actually have no idea how demand for this stock is going to go if conventional wisdom out there is elon is prepping some massive takeover to rescue the

company. that might in turn drive demand? it's impossible to know. it might divorce the company from its fundamentals while its employees are in extraordinarily high pressure time ahead of an election. >> nilay, do you see any reason why elon musk would want the price of twitter to go up before twitter makes all the product changes that he wants? i don't see one. >> yeah. i don't see that either. i'm just saying i think -- i don't think that he can drive it down if what he's indicating is an interest in buying more, right? i think that will bring his followers along with him so i think that's just a tricky play overall >> yeah. nilay, we can try to play mind reader with elon musk's motivations and talk about his ability to drive the stock price up or down, but regardless, he is drawing attention to the platform and i wonder if you think that's going to start to show up in some of the metrics this quarter? >> potentially

you know, twitter has just had flat growth for the longest time it is not an easy platform to come on and use. you know, everyone has played amateur twitter product manager for the life of the platform my friend casey newton, your friend, describes it as the bluth company, successful despite the product errors they made and forays and things like live sports streaming or whatever they wanted to do it's successful because a small group of people use it because they're completely addicted to it it's not successful because a lot of people find it easy to use and fun to use that's always been their challenge. the average person finds it incomprehensible anything you do to make it more comprehensible makes it worse for the power users. that has always been the dynamic of twitter so i think like if you're -- i mean, i have 10,000 amateur product manager thoughts for twitter. i'm sure you all do, too

if you're elon and have the money to say i'm going to buy the company and do what i want, it's still not an guarantee you can solve that essential conflict that's been inherit to twitter since it started. >> nilay, people i love, my mom, my wife, i tell them to stay off twitter, right it's like the bad neighborhood of social. anything can happen there. you can get your wallet taken. somebody could hit you with a rock randomly, right as much as we talk about facebook, you know, facebook it's -- as long as you're not going to go down some conspiracy rabbit hole, facebook is fine. your friends are there, you know call me before -- call me when you need a ride home twitter, don't go in that neighborhood, kids >> yeah. just broadly, what is the big criticism of facebook is the algorithm. what does it do for facebook it creates a bubble around you shows you things that it thinks you might like, shows your friends and family, shows you your groups. it is not you facing context collapse to the entire world,

which is effect lively the proms of twitter any random tweet might go viral. it's like one the worst things that can happen to you suddenly a million people are in your face saying you're a bad person that's the experience of a tweet going viral. can you solve that problem by reducing the moderation controls or saying you're doing to adhere to the principles of free speech which means nothing outside of a legal context. if you're committed to a problem that really no one has solved for ten years, what you're not doing is shipping cyber trucks i have the only shipping cyber truck behind merk, that's an rc car. that's a big distraction from one company that needs to ship way more cars, needs to expand globally and fight off supply chain challenges and international war challenges and also he's got spacex, which needs to launch rockets to a space station half run by russia i don't know why you want this

distraction that no one has been able to solve. >> which is why this morning, nilay, the b of a writes, quoting here, had several wonder when musk decides to sell, ie, is he really interested? what's his duration here sure seems like the intensity of interest will be hard to sustain. certainly that makes sense given the other, bigger arguably responsibilities he has. >> yeah. and you know, again, no one has really been able to solve this problem with twitter in particular and with social media broadly. right? social media is fundamentally a content moderation business. and the real solve for all of the first amendment challenges or free speech challenges that people perceive in the world is diversity of platforms with multiple moderation schemes where people can choose in a market which product, which content moderation product they prefer to engage with. it is not lumping all of your energy and attention on to one company that appears to be the center of the universe but

actually the smallest social media platform with the least reach. just has the most celebrities on i think that dynamic, once you actually spend your time looking at it, you realize, oh, this is kienld of unsolvable problem with limited upside outside of celebrities and i'm already one of the most famous and the richest person in the world. i don't need to waste my time with this. >> nilay, we have to see what happens. it could get more interesting from here for sure good to see you. speaking of control, shopify announcing 10 for 1 stock split to make, quote, share ownership more accessible to all investors. seeking approval for founder share for tobi lutki shares have fallen by more than half since january carl, shopify still leading this revolution in ekmcommerce, theyr

arming tools to compete with amazon now they're trying to push further into logistics and lutki wants more leverage to pursue what could be, you know, profit delaying strategies for the time being. >> yep it's been a while since we talked about founders shares as this things is called. and he'll be able to hold as long as he's a director or member of management or anything like that but does seem to be, jon, one more data point we have in corporate responses to what is increasingly an activist environment. >> yes in this case, i think shopify and some others are laying out an argument that this is one of those revolutionary moments where you have to take actions that are unpopular with shareholders in order to secure the future right? with the stock down as much as it is, perhaps this is one of those times when investors are going to get an opportunity to

make a betthat, you know, upside or the downside is going to have some significant implications from here >> yeah. and we'll be paying attention to during earning season for implications about the consumer spend. mean time, speaking of all of this, turning to some tech m & a, salepoint shares soaring this morning. it's not the only software name getting bought this morning. vista equity getting a nice payout there after acquiring nearly 70% of datto back in 2017 these of course are the latest tech companies to be taken private amid the falling valuations across the space, although it's been pointed out bravo has been active trying to keep this space afloat almost single handedly. >> we just had orlando bravo on "techcheck" last week talking about exactly this and the idea that now is the time to take certain companies and prepare them to either scale up by adding things to them or, you

know, also operationally streamline them to be public, not too far down the line. so, interesting to me, as you've got the likes of thoma bravo taking companies private, you have public companies buying companies from private equity. you know, we talked with net app george curan about that last week so a bit of this shuffling and putting together of pieces for long-term strategy in a way that fits in with what shopify is trying to do as well, but with logistics and long-term planning not as much with m & a. >> right as for sailpoint, one more light beam being shown on the cyberspace and the appetite to find properties that will help companies resist what we think, at least, theoretically would be more difficult environment regarding security online. >> it hasn't gotten any easier over the past years that we've been following it for sure. >> yeah. also, a downgrade for

nvidia, tiktok's dominance and later mark wahlberg. big hour of "techcheck" just getting started.

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♪ get a gut check on the new warner brothers discovery. today first day of trading post merger and deutsche likes what they see. they call the new top pick in media. says it's one of the best positioned companies in the global streaming industry. they're not the only ones pretty bullish this morning both atlantic and evercore upgrade the stock as well. shares did start the day higher but have flattened back and currently down about half a percent, john. big interview with michael nathanson writes the vision of the future was clear to do the deal now comes the hard part executing on the strategy. neutral rating target of 27. >> it's quite a basket of properties they have, but i wonder how they're going to approach this subscription versus advertising balance in digital that seems to have shifted pretty rapidly over the last couple of quarters. as we have been talking about it, as inflation has spiked and

seemingly consumers are less willing to continue forking over subscription dollars for so many services, carl >> yeah. not to mention the international growth possibilities, jon. that's been sort of the classic streaming story strengthen domestically, leads the companies to do more overseas and see if that plays into this as well. >> yep. meantime, moving on to chips. tracking weakness in the semiconductors the nasdaq down nearly 2%. four of the largest u.s. chip makers nvidia, intel, amd and micron losing combined $110 billion in market value. nvidia down more than 5% just this month off of a downgrade about 5.5. wedbush analyst matt bryson joins us now to discuss. matt, you have an outperformer on amd, underperform on intel and neutral on nvidia suggests to me you think that going forward amd is worth more than intel. >> i do.

i think that -- my struggle with intel is that they have a long road ahead of them in terms of turning around their product set. in the meantime, amd is going to take share particularly in the data center. so in terms of relative performance, i think amd has a much easier path over the next couple years >> so what's the most compelling growth story in semiconductors right now, do you think? i hear a lot from the likes of marvel about the potential in the cloud. you know, to really drive progress there as hyperscalers look for customization and you look at the slow down in pc sales potentially, but then graphics is still an important segment. what's the theme that you think investors should pay most attention to >> so, i think there's a few different themes i think certainly there is the

shift to ev. there is greater investment in artificial intelligence. there's the growth of iot. so i think all of those will be drivers. among my favorite names, taiwan semi, the arms dealer for all of the fabless companies that are making those solutions but even with nvidia, i think they have a great future three, four, five years ahead they're leading in a number of those segments their issue is both it's really expensive stock but also right now certainly we seem to be seeing the beginning of a correction in the client's gaming side of things. >> yeah. that certainly baird's point today. show down in consumer demand reflected by on going reduction

in graphic cards pricing do you see anything wrong with that picture of demand environment right now? >> the really difficult thing to understand is crypto has been a significant opponent, i believe, both in the demand for client gpus over the last couple years, similar to what we saw in 2018 and it's really difficult to understand once nvidia makes a chip and ships it out to the car vendors where exactly that product ends up. so i've looked at a world where four weeks ago if i was trying to buy a part at best buy, it didn't exist now you go on best buy's website and you can get any type of gpu you want so i certainly think there has been some shift over the last month versus the last two years where ugs couldn't buy a client's graphic card.

>> now semiconductor equipment makers are warning supplies are still tight. who among the semiconductor players is best positioned to weather that sort of environment through their demonstrated ability to be front of the line for this equipment and manage inventory the best >> so i don't know that there's any particular company that's going to do a better job obviously taiwan semi is great operationally. they are the largest single consumer of capital equipment out there. so i think they're going to do a great job, but i think the larger point is that as long as capital equipment is constrained, it makes it very difficult for the fabs to overorder. and overbuild. >> not just the fabs, but some people get better allocation from tsmc than others. and you know, there's a question

the likes of intel, how much equipment are they going to get. so what have we learned over the past couple years on who gets their order first? >> i think with these companies it generally is when you put your order in. as opposed to necessarily an intel or a tsm being able to jump to the beginning of the line certainly on the fabless side of things, or certain idms, you are able to pay a premium to get expedited shipping so if you're a larger consumer and certainly say apple is perhaps the best in the business at managing their supply chain, they tend to get chips first but i think from a semiconductor capital equipment standpoint, it's all about how you manage your operations as opposed to i'm the biggest buyer. i get capital equipment ahead of everyone else. >> all right

matt, thank you. nothing but rainy returns for cloud stocks this year don't miss a read on demand with software company appian coming up next. stayitus wh policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

♪♪ ♪♪ ♪♪ take the world by cloud. accenture let there be change.

welcome back tiktok is big and getting bigger the app's ad revenue is going to triple this year compared to 2021 and grow 6x by 2024, according to a new forecast from insider intelligence by next year, tiktok would leapfrog snapchat and twitter. it's ad business will make more revenue than those two companies combined, and it could even take on a goliath in the space if it continues this growth trajectory, it would rival youtube in revenue by 2024 google and metta still rule with 29 and 24% of the market respectively but tiktok's growing fast. remember last week piper sandler released its team survey which showed tiktok the top social media network for the first

time, carl i did a bit of a panel a few weeks ago with the iab with tiktok's heads of u.s. and the strategy that they have, the tools they built in for co-creation where brands offer content and actually encourage in a way the users to steal it and it rate on it, a big part of their differentiation and their growth, we'll see if that can continue. >> yeah. that's sort of the point of this data is that they have found a way to make things go viral in ways that other platforms haven't yet figured out, whether that's the rolling continuity of product or the ability to take a brand and morph into the creator's vision, not the company's vision but overall, jon, still a small share of digital ad spend shows the size of the big players. >> they can run into walls, though one thing projecting trajectories as if they're operating in isolation, but they're competitive dynamics at play here and also the question

f you're the richest guy in the world f you're elon musk, why are you stirring things up at twitter when there are other social networks that are both bigger and growing a heck of a lot faster interesting. to me that's an interesting question, carl. >> yeah. i can think of a couple potential answers but we'll save it for another time. jon, it's a match for loop capital. they go take it to buy target of 140, morgan stanley called the company a top recession pick on friday time to get it back out there. "techcheck" is back in two

welcome back to "techcheck." i'm carl quintanilla with jon fortt and julia boorstin dow is down 205, nasdaq down almost 2%. you have nvidia leading the declines along with amd on the back of some higher yields mark wahlberg will join us in a moment to talk about entertainment and media. but time for a news update >> here is what's happening at this hour, carl. broadening covid lockdowns in china are hitting world oil prices u.s. and international crude benchmarks are down 4%, selling pressure also continues to come from plans to release record amounts of oil from the strategic reserves around the world. meanwhile, treasury yields continue to rise setting fresh three-year highs, this ahead of tomorrow's consumer inflation report german bond yields also jumping. the ten-year is trading around

0.8% the last time i checked that's the highest level in nearly seven years. and jetblue, trading higher along with most of the other airlines this despite the carrier saying it is shrinking its summer flight schedule. jetblue is trimming schedule in a bid to avoid flight disruptions as it faces continued labor shortages. jetblue had significant delays and hundreds of cancellations over the weekend jon, back to you. >> seema, thanks. the wisdom tree cloud computing etf is on pace for a sixth-straight month in the red. longest decline since it was created. analysts, though, remain bullish with some ideas what to buy today. our frank holland explains frank? >> hey there, jon. you see the eft you have today but on pace for six-month in the red as cloud stocks. they face continued pressure from rising interest rates as well as the geopolitical uncertainty that has many investors really reassessing how valuation cloud names, but the stock moves, they're contrary to the trends year to date, cloud spending up more than 30%. cloud investment expected to continue even as the stocks

crash. cloud also just has a lot of room for growth with less than half of all workloads on the cloud as opposed to on premise in europe, adoption trends are lagging the global trends, but security concerns related to the russia/ukraine war are expected to be a catalyst for adoption. analysts say one factor weighing on the stocks is really the concentration of the market. amazon, microsoft google and alibaba have about three quarters of cloud customers globally and expected to maintain market share even with greater demand for cyber security for hybrid work loop kalal says networking system names the safest way to play cloud that includes networks down today but up more than 8% the last month cnn and jupiter networks in line while the cloud names struggled. frank, thank you one software maker appian a lot of investor interest in the space. acquisitions and ipos, shares have been crushed since last

february down more than 75% recently we turned an eye toward valuations ach yan founder joins us now to discuss. matt, welcome. i want to focus in on this low code movement that's happening right now and fundamentally what's behind it the idea that without as much effort and in some cases without as much developer skill, people should be able to make things happen with software why? >> yeah, that's right. low code is a new way to program by drawing a flowchart instead of writing it line by line and the result is it's a lot faster. with low code, you and i could be programmers with low code, a lot of people who weren't programmers otherwise or who had out of date tech skills will create their own applications that's important because the world needs more applications, needs more innovation and we also need to move faster so it's an important movement at the right time >> well, this reminds me of more on the consumer and interface side, the web 2.0 move towards

using java script to rapidly make the web experience more flexible and iterate more quickly. is this effectively doing that on the enterprise side how do you expect that's going to shift the balance of power in the industry over the next, say, three years? >> it's going to shift it toward people it's going to democratize development and, yeah, this is the latest innovation in a long chain of innovations which have all been pointing toward making it easier for a person to control a computer this is just the latest way that we're going to make it more possible for a person to direct and collaborate with technology. >> matt, there's a view among a lot of names in the space that, all right, they did really well during the pandemic. and they did well when there was an explosion in the number of, say, small to medium-size businesses but now maybe it's a period where clients want their software as part of a larger suite. maybe you need to be part of a large global sales force and result you need to be consumed by a much larger player. do you think that's an industry

truth right now. >> you know, suites versus best to breed, this is a pendulum that's been swinging forever i think it will swing back and forth in the future as well. but we're trying to be the best of both worlds we put together a full suite to handle processes from beginning to end and at the same time we're the pioneer in the low code space, so we are best of breed. >> so, how much of this has to do within this world of big data, not so much about just having an algorithm, not even so much about just having a lot of data, but then knowing what to do with it and having the most employees, workers perhaps who are tuned into the company's needs and customer needs, able to get insights from that? who do you see getting advantage strategically in that kind of environment? >> you know, you're so right most data is wasted because it's not brought to bear at the moment of decision one of the great things you can get out after a low code system is it connects to all of your systems and brings that data back the moment of decision, the moment when you need it. being sure that the person who

makes the decision is fully informed and so, yeah it's not just whether you have the data it's whether you can use it. whether you have it at the right moment and so a framework like this that will reconstitute the fragmented enterprise is more valuable today than ever in fact, you know, one of the primary outcomes of the pandemic has been to split us all up, to make the enterprise more distributed than ever, not only the humans but the data and the customers. we're all so far apart, we need actually a framework to reunite all of those assets so we can work in concert. >> in this environment, where i'm starting to hear more, we're starting to hear more about private company valuations coming down, are you being equiztive even on the lower end? what is that doing to your ability to get the smartest employees hired and in the door? >> yeah. appian has done a few acquisitions in the past few year we buy technology. we don't buy footprints or customers. we're not looking at the high price tag acquisitions, we're

looking at technological accelerators and we can easily afford that. we have the cash to do it if we need to. it's been really successful for us in building out that low code suite the end to end offering to discover the processes, design them in the same product. >> we'll continue to watch you and the space. matt calkins from appian. >> thank you we'll keep an eye on microsoft today as well, under pressure after ubs said office 365 growth could start decelerating shares down almost 10% over a week, little more than 3.5% today. plus, wall to wall, mark wahlberg is next "techcheck" back in just a moment

♪ got to watch bitcoin hitting the lowest level since march 21 this morning now down about 5%. lower double digits on the year. and that move comes as the ten-year treasury yield did hit a three-year high overnight. we have the 276, some other digital currencies also taking a hit this morning as investors continue to assess the risks of rising rates and a more aggressive fed. we're back in just a moment. (vo) verizon is going ultra! and now, you can too with the offer you just can't miss. for a limited time, get a 5g phone on us! (mom) delightful. (vo) with no trade-in required. (dad) i love it. (vo) what's not to love! verizon is going ultra, so you can get more.

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♪ our next interview is bringing some good vibrations to "techcheck." our julia boorstin has a very, very special guest hi, julia. >> thanks so much, carl. i'm joined now by mark wahlberg, actor, producer, entrepreneur, mark, thanks so much for joining us ahead of your movie "father stu" you produce as well as star in and also helped co-finance that movie opens on wednesday. thanks for being with us this morning. >> thank you for having me how are you? >> we are great. we're very curious to see your movie and decision to distribute

this movie via sony and traditional release model that's going to be exclusively in theaters why does that make sense for this film rather than going to a streamer or doing something different? >> this film has to be seen in a theater with an audience you know, to see people laughing and crying and cheering, it's definitely made for the theatrical experience, for sure. i remember because of the pandemic i hadn't been in a theater for well over a year and to see the movie played with a really wide audience for the first time was absolutely amazing. i've never had a reaction to a film like this in my entire career the big question should be -- >> wow, this is -- >> why would i break the cardinal rule and finance a film myself >> yes i guess that is the question it is also a faith-based movie you, of course, have starred in dozens and dozens of more traditional hollywood films and faith-based movies are seen as

having a more narrow audience. do you think you can bring your fan base from movies like "uncharted" to this film >> we are trying to reach the widest audience possible this movie, it falls under the faith-based umbrella because stu's ultimate decision to go into the priesthood, which is -- he's the least likely person to ever go into the priesthood, but that being said, it really is like a traditional bio pic an amazing journey of this guy really trying to find his purpose in life. and you know, this is the kind of film that you really have to do it independently any way. i didn't want any interference when it came to the creative i wanted to tell this story in the most raw and unapologetic way. the movie also is rated r. and not a lot of faith-based movies are rated r. >> indeed. but so this decision to finance this movie and take on that

risk, what does it say about what you're thinking of doing snex can we expect you to invest more in this faith-based genre or keep on acting and producing these kinds of films >> i'm putting my money where my faith is for sure. and you know, i think making movies like that are really inspiring and hopefully other stories will come to me. whether these are things i act in or not, i'm definitely headed in that direction where i want to make more faith-based content. >> i think we talked about this a little bit off camera last time you were down here at the stock exchange and congratulations on getting this done you know, you're no stranger to investing period or entrepreneurship or risk and i'm wondering how it's different in the film making business when so much hard work happens before the sale, so to speak. >> yeah. well, you know, this was definitely a labor of love for everybody involved but i think these are the kind of movies that people really need right now these are the kind of movies that i think are encouraging

people to come together again. so, there's lots of good that can come from this film. i'm really excited about it. >> mark, good morning. it's jon fortt i'm curious about you as a creator. you came op to the scene with music. you have done movies, restaurants, dealerships, et cetera what's the role of technology for you as a creator and for you as an entrepreneur, how are you using it in what ways does it have the potential to both make your businesses better and make them more known as you market them in this social media era? >> yeah. i'm still kind of learning my way around tech. thankfully i have a 12-year-old daughter to kind of get me up to speed with everything new and exciting in the world. but i do really rely on her. n in a lot of ways for us keeping everybody in communication. and being able to recognize when there's real opportunity there because there's so much synergy between all the different

business interests, just really a matter of how we execute. >> what impact have you seen on the restaurant industry and your business there as we've been going through this pandemic, we've seen inflation and price spikes and definitely restaurants about to think differently about how they get feed to people do you lean into delivery and these apps and, you know, these checkout software suites that are, i'm sure, trying to sell you all kinds of product do you find that beneficial? >> yeah. look, all of our restaurants were closed down all of our studios were closed down but thankfully we've rebounded pretty well. but you know, i think people are going -- my brother was such a purist he wanted to make the burger himself. we wanted people to experience wahlbergers when they want and where they want. so now with our at-home, we have -- not only retail beef but a bunch of other products that

we make available at home. so i think we have done a lot with delivery and stuff like that, but we want people to obviously come to the restaurant and have that sort of experience that we provide, getting the food as fresh as possible. and it's all the other content and all the other things that we provide we provide as a business that a lot of other people don't do with the celebrity component. >> mark, apply that question more broadly to the rest of your businesses as you think about the reopening, what the future of business looks like post covid now we have the challenge of inflation. what's your expectation about people getting back to their lives? you're betting on people getting back to movie theatres, but do you think people are going to be going back to gyms and restaurants? what does the future look like >> i'm optimistic that people will go back you kind of need that experience, right? to go, want to go to a concert you want to go to a movie theatre. to a restaurant. you want to go to a sporting

event. all of those things. if you would have told me it was going to be this long, i would have told you you were crazy but, there was no real predep predicting how long the pandemic would affect people. now with the supply chain, it's become pretty difficult. >> yeah, certainly one thing that has seemed to have grown is the streaming business today, we have the merger of warner brothers and discovery. they're going to be combining their services we have disney and netflix you're still betting on movie theatres, but what about the opportunity there? are you interested in working more with the streamers? >> i've made two films with net flick. about to make another with netflix. i completely appreciate that i just think certain films for me, i'm going to want to always focus on the theatrical experience >> focusing on the theatrical

even as you bet big on netflix thanks so much for joining us. really appreciate mark wahlberg ahead of your big opening of your movie on wednesday. thanks so much >> thank you god bless you. appreciate you >> great to have him insights on so many things if you're hungry for more tech check exclusives like this one, go to wahlbergers. no, follow and subscribe to our podcast. listen anytime, anywhere, wherever you download podcasts we'rba ia mee ckn mont

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take another look at microsoft today. reacting to the new note from uba warning 365 growth deaccelerate microsoft, the worst performing of some of the bigger tech stocks carl, you know, we're noting just a few days ago that microsoft is now more than half a trillion dollars in market cap away from apple. yes, there's this office issue but they just closed the nuance deal they've got the activision blizzard one on the burner we'll see where that goes. there are a number of different

thesis that one could focus on in microsoft with growth going forward besides office >> indeed. that's you know, 3.5% on microsoft is going to get your attention and we mentioned the ubs note we now believe it's prudent to begin modeling a deceleration given the combination of the pandemic, work from home boost fading and office 365 penetration getting close to 80%, jon they do point out though that their checks argue that google cloud leadership has all but given up trying to displace it at the king. >> there's talk about google docs and sheets ten, 15 years ago and it was free. that's why i'm cautious. i try to be cautious about the story lines. on paper, it should have worked. google is popular. free is popular. but office, microsoft managed to shift it to the cloud in a very effective way.

right now, they have this consumer deal where you can bundle in the office apps with some cloud storage and other things for 100 bucks a year. they've managed to hold on to the consumer so they get a paid profitable business. kids in school are still using google docs, but it hasn't become a power house business to challenge microsoft. >> we're going to watch that it's a big reason behind a lot of the megacap tech weakness today. apple's new reality's underway ahead of june's conference, that while the company's mixed reality headset will not make an appearance, beta versions of ios 6 are quote, chock full of interactions he said this indicates the device will launch between june and fall of 2023 we're going to hear from tim cook tomorrow morning as he keynotes the international association of privacy professionals summit in

washington, d.c. at 9:00 pa.m. eastern time we generally unlike nikkei reporting, tend to follow german closely. >> just because it's in the software, doesn't mean the hardware definitely shows up just means there's the possibility that it could show up even maybe the expectation, but things have been known to come out, hardware wise, on their own time, carl >> we'll watch that. apple down as well the other story we should probably come back to is twitter. and elon musk saying he's now not joining the board. twitter is back in the green and julia's been talking to analysts and sources this morning and is back with us >> i think the main thing i would focus on is the distraction and -- said in his tweet, there will be more distraction, but he wants his employees to stay focused. i think the question is how much of a distraction it is not just

for employees as they try to build out all these new revenues, but also a distraction for investors. we haven't heard a lot directly from this new ceo and there's this risk now that elon musk really could be the one that ends up determining the narrative around this company going forward. >> if you're a highly skilled, technical employee, engineer at twitter right now, do you need this you can go work were whomever. even elon musk, i suppose. do you need to suffer through these gyrations at twitter and wondering whose vision is in charge >> yeah, i mean think about what happened over the weekend. you had elon musk tweeting out a number of recommendations for how he wants the subscription service to look. lower cost no ads even attacked the fundamental business model of twitter, having it be ad-supported. you have to wonder, he puts all those ideas out there, then

deletes them is this the kind of thing we're going to see all the time coming from musk now that he's not muzzled because he's not going to be on the board >> both short-term and long-term, guys. we're just getting started on a busy week. cpi tomorrow will be the data before the week before earnings season and jpm gets us started on wednesday to the half. >> thanks so much. welcome to the halftime report front and center, the road ahead for tech nasdaq down more than 7% in just a week so how much more selling do we have to endure we'll debate that with the investment committee joining me today, bryn, jim, steve weiss, joe the markets now, we're watching the s&p 500 because it was close to breaking its 50-day 4427 so keep an eye on that number throughout this hour d dow's down by 180. nasdaq really the epicenter lately down 8% in a week and some big name