stuart: what is the most popular wedding date for 2022? on your screens are the choices. tepper? >> i will say june would have lowest chance of rain, number two, june 18th. stuart: i would thought june 1th. i thought people get married in june. what? october 22nd. 35% of allreds take place during the fall. >> who would have thunk. stuart: who would indeed. thanks for being with us, mark. it is yours, neil. neil: thank you, stuart. i would never have guesses that right. we're down 267 points. i go through notes charlie

brady, stocks editor, overall smart at this pants, he had a take on this, notion there sun certainty about the election and outcome where things go. but if you think about it we're right back where we thought we would be a little over a month ago before the talk of a red wave. markets like split government where nothing gets done. that is counter intuitive. if you're worried about the spending going on capitol hill, if both are at loggerheads, less gets done. that will provide the grist for the mill. what charlie is coming from, we have lot more uncertainty, not only whether the senate itself stays in democrat hands or republican hands. the consensus was house would switch. that looks pretty clear. bigger issue uncertainty around other developments, not only

election uncertainty, covid uncertainly in china. it is spreading like wildfire here. we go through the rolling lockdowns. wuhan, you get sick of hearing this, that is in another quasi-lockdown now. that is where it all started. apple telegraphed earlier in the week. that would be among reasons why it might have a shortage of iphones available for the holidays. that adds to the uncertainty. this is something charlie wasn't talking about, i noticed the richmond fed president on the wires, tom barkin, the move to normal will be a lengthy one. it might be me, no fed district governor ever speaks english. we've got some problems down the road. whatever that means, the road to normal might be a lengthy one? what? what does that mean? it take it to mean we have a lot more uncertainty to go. see how the uncertainty keeps building. it is out there. a lot of uncertainty about the final outcome of this election get us back to driving selling

in the first place. aishah hasnie in georgia right now where i guess they're going back and forth ashiah, whether we have a runoff in the senate election, right? reporter: yeah, good afternoon, good morning to you, neil. yes it is the morning after. we're all talking about the word we didn't want to talk about, runoff. if you're rafael warnock waking up this morning probably thinking to yourself, gosh, who else could i have touched before election day? who else could i have convinced. less than a point shy breaking that 50% threshold. it has got to hurt to see those numbers. let's look at them where they currently stand right now. they're changing by the minute here. right now the two candidates are 35,000 votes apart. pretty good margin with warnock leading republican challenger herschel walker. take note of the libertarian, neil, who took away about 90,000 votes from those candidates unable to break 50%. so the coo in the office of the

georgia secretary of state tweeting this last night, we feel it is safe to say there will be a runoff for the u.s. senate here in georgia, slated for december 6th. also adding a tongue-in-cheek gif, only thing that could make this better is overtime. i don't know if that is true. both camps anticipated this as warnock and walker last night urged their supporters to hang in there. >> whether it's later tonight or tomorrow or four weeks from now, we will hear from the people of georgia. >> i want to tell y'all, if you can hang in there, hang in there a little bit longer, just hang in there a little bit longer because something good it takes awhile for it to get better and it is going to get better. reporter: neil, something else to make nolt of here the difference between this race and the governor's race. we know incumbent governor brian kemp easily defeated democrat

stacey abrams last night. the current tie in this race proves walker really struggled to convince georgia republicans he was the right guy for the job. again, here we are outside of the capital in atlanta waiting for the votes to be counted and completed. not official but looks to be headed to a runoff. neil: asia, what is fascinating about the georgia race, there was no follow-through for much greater crowd of governor kemp to carry over to vote for herschel walker. there were ticket splitters, those who decided not to vote in the senate race. i don't know ultimately what went down but that is kind of intriguing? reporter: it is interesting because i've been talking to republican insiders this last two weeks and they were telling me they really felt like governor brian kemp would be able to pull herschel walker along. he would get some of that momentum. we did see some momentum in the final days before this election,

but you're right. we talked to a lot of folks, republicans, even people who normally vote red all the way down the ticket, told us you know what? they didn't have the heart and they were split ticket voters this time around. neil: indeed. ashiah, aishah hasnie in atlanta, georgia. we'll get more developments out of that race to go to runoff. certainly looking that way, senate race, governor's race, stacey abrams as ashiah said already conceded. mike emanuel updating on the balance of power where it stands in the house, where it stands in the senate. mike we were saying at the outset of the show here kind of fallen what we expect originally before this talk of red wave or excitement in the republican party about a red wave, the house goes republican most likely, the senate still up in the air. what do you think? reporter: much tighter across the board, neil. in the senate four races will determine which party will be in charge. you heard about georgia, arizona

republican blake masters, before democrat mark kelly but kelly appears to be leading but too close to call so far. in nevada, adam lags ault hoping to defeat catherine cortez masto. potential gop pickup there. that is too close to call. wisconsin, republican senator ron johnson is leading democratic governor mandela beans, he is arguing the race should be called for him. chuck assume ires us what he intends to do if democrats hold on to power. >> we want to protect a woman's right to choose. [cheering] we want to protect the right to marry those who you love by passing the marriage equality act. [cheering] we want to faith to protect our democracy securing the right to vote. reporter: house side of the capitol where republicans were hoping for a red wave our count is 203 for republicans, 175 for

democrats. 218 is the magic number to be that majority party with the speaker gavel. a huge upset breaking short time ago, republican mike lawler defeating sean patrick maloney in new york. maloney called lawler to concede this morning. >> this election was never about me. it was about the voters of my district and the future of their families and right now we're dealing with record inflation, surging crime, skyrocketing energy prices and people wanted change. reporter: for some context a sitting house campaign chair has not lost re-election in 30 years. neil? neil: that is wild. mike, thank you very much, mike emanuel on all of that. take you to florida. of course you heard about the big ron desantis win not so much talk about the big marco rubio win. in case you had any doubt this former purple state really turned red, both of those big victories would disavow of that

notion. the latest from steve harrigan in tampa. reporter: a huge night for republicans in florida all across the state beginning with the re-election of florida governor ron desantis by almost 20 points. he called it a victory for the ages. his victory speech was combative. he said basically the state of florida has become a bastion of freedom for the rest of the u.s. >> we reject woke ideology. [cheers and applause] we fight the woke in the legislature. we fight the woke in the schools. we fight the woke in the corporations. we will never, ever, surrender to the woke mob. florida is where woke goes to die. [cheers and applause] reporter: other republicans winning big as well, senator marco rubio, winning re-election by 16 points over representative val demmings. also the republicans picking up four congressional seats. as you mentioned, it is really solidifies florida's move from

the classic swing state to now more of a red state and shaking up some old line coalitions too. desantis able to win in miami-dade county. that is 70% hispanics. a lot of hispanics jumping from the democratic party, to the republican party. a lot of talk about desantis for potential national office. the governor back in tallahassee prepping for yet another hurricane. neil, back to you. neil: that's right. nicole, right? thank you very much my friend. another steve with us, you know him well, steve for example of the gigantic forbes empire. weighing in on maybe a smaller empire that republicans thought they would get but kind of back to where we thought we would be, right? >> yes. i think you could still get control of the senate. we have nevada. arizona is so strange in how they count ballots out there. neil: i thought they would be up to speed on this. >> modern era slower than buggy whip days. we can pull it out there.

house. we have pickups there. one pickup in new jersey. two in new york at least. florida, four. it is not the big wave of 50 or 60 seats but enough to take control that will be a good thing at least in tempering the excesses of this administration. neil: wondering what you make now, no sooner do you get one race concluded, to your point not quite concluded we don't have final numbers yet, but we know enough the media being what the media is, we're already focused because i throw myself in that camp on 2024. desantis, seen the cover of "new york post" today, all eyes on him. whether donald trump damages the brand a little bit with some of his candidates didn't quite get over the finish line. jd vance notwithstanding in ohio. what do you make of this? >> shows what florida did what republicans thought would happen nationwide. we had a strong governor, took gutsy stands especially on covid, pilloried, harshly

criticized by dr. fauci and others. turns out he was right, they were wrong. he took on disney which you ever don't do in florida, big employer that sort of thing. crisis manager. he is managing another crisis, another hurricane. he did one that slammed western florida. so he has demonstrated executive competence, continued ability to do things on continuous basis. he does his homework. when you visit him he read his brief. he often knew more about the health officials that came and criticized him. neil: i remember how he was laughed at how can we get the vaccine shots out to everybody. he had what thought crazy idea at the time, publix, grocery store. you don't give shots at a grocery store. it was prescient. it worked. other states followed that. now the pressure is on. i always think, steve, money guys in both parties where they start making their bets. ken griffin, successful investor

put his money behind desantis as potential 2024 presidential candidate. donald trump said essentially it would be act of disloyalty for someone to run if i'm planning to run. i'm cutting to the chase. what do you think of that? >> well, he helped desantis in 2018 but desantis helped him in 2020. remember donald trump only carried florida by three points. the governor was very helpful in making sure that state didn't go back to being purpose people and blue again. neil: he doesn't owe donald trump? >> no. people looking to the future. there is no training ground for presidents. they come from all different kinds of backgrounds but if you look at his executive experience, crisis management, being able to take the kind of pressure from the national media, not just local media but national media, standing up and explaining in a way where he not only keeps his base but expands the base. hispanic community and elsewhere. so -- neil: look miami-dade county has this ever gone republican?

majority latino vote ever gone republican? that alone is a supernova event, right? >> that makes him a formidable candidate. republicans are looking for 2024 they want to have the strongest candidates possible with the least baggage, strength. because we've seen when a candidate is got flaws or something, it hurts. and i think he knows how to handle hot issues. one of the issues that hurt republicans this time was the abortion issue. a lot of us thought it calmed down after the supreme court decision where people realized it is not going to be taken away. most states would be allowing it but it still rankle ad lot of voters suburbs and elsewhere. neil: it did tip some races there. >> yeah. neil: i'm wondering how this shake things up for republicans right now? you're quite right to say in the end this is about what we thought would happen. people maybe were getting ahead of electoral skis because of talk of a wave. it never did feel like '94 to

me. you understand where people coming from, look at vulnerable races, maggie hassan seemed to be in the race for her life, what do you think? >> it shows the sleeper issues were out there that weren't detected. also the democrats give them readied a couple of things. they got the youth vote out. they bribed them. got a lot of them to the polls in terms of a student loan debt forgiveness. neil: very surprising midterm election year to see this. makes you wonder what the passions will be like two years from now. no way of knowing. >> a wake-up call to republicans. you may think you have great issues but you also have positive issues. here in new york i wish lee zeldin done more on tax cuts, give something people to get excited about. republicans won, if they had this result a month ago, people said that is pretty good, not bad under the circumstances we got our hopes up. that sobering call for 2024, get positive message and right candidates it will go our way. you have to address issues with

people concerns about abortion. pro-life. acknowledge most people want the thing to be available. it will be available. you have to persuade people to go the other way. you have to persuade not ignore it or talk down. neil: argument also has been we hear you, we think the states are the way to go on this but they never really articulated that. they just thought this was noise. >> so even in kentucky. neil: right. just like kansas,. >> went a pro-choice way. you have to make your case. people respect a different opinion. acknowledge they have a valid voice in the public square. that way they will makeover look a certain issue. they may not like it if they like you on other issues. you have to acknowledge you're speaking with them, not at them. neil: steve, belieying your young looks -- >> you made my day. neil: do you ever get a sense that this wall street loves

gridlock is overdone? in other words, i understand where that is coming from because the less meddling the better but there is a lot of stuff that needs addressing. our debt. what will we do about social security down the road. i don't care for guys like me, it still looks like i will get it. my young staff here, they're burnt. they're not going to get it. you know what i mean? do you think that this is the time to be talking about liking gridlock when depending on the issue it might be actually counter? >> you want a counter to bad stuff and this administration has been seesless ceaseless has been seesless ceaseless pu people remember ads

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guy, guys, guys, we're still in session. and i don't know what the heck you're talking about.

neil: welcome back, everybody. we're just hearing now that president biden is going to speak 4:00 p.m. eastern time, 3 1/2 hours from now. no doubt on yesterday's campaign developments. yesterday at this time there was no such expectation the president was going to address the nation either responding to questions or making a speech. we're not sure the format or venue for this but maybe given the better than expected performance on the part of democrats here, in other words it wasn't a total wipe out as things stand now. edward lawrence from the white house. reporter: you talked about the news conference, he will give remarks, take questions, according to the white house. we'll see how many questions the president is taking, 4:00 p.m. eastern time tonight. the feeling within the white house this morning is one of vindication, excitement,

feeling democrat candidates ran on the president's economic agenda, they ran on his climate change message. also pushing the abortion debate to the forefront. i get the sense when the president speaks there will not be a pivot in anything he wants to do on energy, on spending regarding inflation. still economic experts as you were just discussing say a republican-led house is good for the economy. >> you're going to go ahead to put a lid on government spending, government regulations, as well as taxes. so that can only be viewed as a positive. right now we are suffering from too much in terms of government spending, the rise in regulations, higher taxes. reporter: so president biden's strategy to stay away from close battleground races except pennsylvania seemed to be also part of the winning strategy for democrats. still the senate is in the balance. potential new majority leader of the house made it clear this morning that a pivot in policies should take place from this

white house. listen. >> republicans will work with anyone willing to join us to deliver the new direction, that americans have demanded but there is no time to waste. our work begins now. let's get america back on track. reporter: so many of the spending priorities the president wants could stop now in the house of representatives should that hold and republicans take control. but he still has the inflation reduction act, money left over from the american rescue plan that the president has left to spend and direct from here in the white house. back to you, neil. neil: thank you, my friend, very much. we are hearing by the way georgia's secretary of state is on the wires right now saying it is very likely that the warnock and herschel walker contest will be headed for a runoff here. you have to get at least 50% of the vote. so i believe that would happen on december 6th. melinda, correct me if i'm wrong. i'm talking to my executive producer there. but again that means if you're still waiting to see who controls the senate, very likely would have to wait until at

least then. back with us, fellow who i have enormous respect, seen as white house deputy chief of staff under barack obama, less so even those know in the media as well. he was instrumental getting barack obama reelected in 2012. that was looking dicey for a while. you might recall, remember that first debate barack obama had with mitt romney. a lot of people were sort of breaking into taps at that time for barack obama. hard to believe. i was there in the room that night. jim turned it around. kind enough to join us. good to see you, my friend. joe biden is going to address the election. yesterday at this time he wasn't. what do you think he will say? >> i think he will say good news. last night really big winner was democracy. we have the biggest turnout we've seen in a northern presidential election in the history of the country. neil: that's right. >> that is why the polls were so wrong. we talked about it before i hate polls. they were wrong again because

they underestimated democratic enthusiasm especially about abortion and democracy issue. neil: there was a little bit more traction than we thought. if you step back, jim, the results are kind of what we were thinking in the very beginning before there was talk of this red wave. i didn't see a lot of that like '94 or 1980. >> yep. neil: carter and reagan came to life in the last few days of the race. what were you seeing? >> interesting thing the country acted like presidential year. democrats did better in blue states where there was republican hopes in new hampshire, in colorado, in washington state. those were blowout wins. republicans did really good in red states. democrats hoped to flip north carolina. they hoped to flip ohio. they just didn't get there because they acted normally. the interesting thing is history, you and i are history buffs, right? what the party election in midterms usually lose average of 28 house seats, four senate seats.

democrats clearly overperformed that last night. it sets up going right at the 2024 election. one more thing, democrats had a big night people are not talking about in the governorships. they picked up a bunch of governorships in the midwest, wisconsin, which was really, really close. they had to have gretchen witmer looked dead before the hobbs decision. lead as housafter trump.

but the base still loves him. the question is, in a primary, can someone really beat donald trump? neil: let me ask you a little bit about that. sometimes it is based on not meeting expectations. we're both way to young to remember 1969. what was famous that year, lyndon johnson did win the new hampshire primary that year. but barely. this other guy named eugene mccarthy. lyndon johnson famously said. will i seek the presidential

nomination. take something like that for donald trump to say no mass?

young. governor to be a maryland form the next barack obama, another plenty of young stars there. but who are they? people like people who judge would be automatically there. the governors of california, gavin newsom's would run the next moment, as was the governor of colorado. there's a bunch of governors in the selected their their their talked to. i think. last time i counted 29 people who want to run when biden is done. but you handle a debate like that? yeah remember, last time i do don't table the kids table. um finally, you and i were chatting during the break, jim, i don't mean to pepper will always question but you can handle this notion, and i've covered wall street for decades. i know. i don't look that old but i had and i hear the gridlock talked a lot. jim and i

get it. you know the last spending the kids, and i mean by the way that's happened on the republicans and democrats. no one has a license on fiscal prudence right? having said that this notion that, uh, nothing gets done and wall street likes that there's a lot that has to get done a lot of ticking time bombs that have to be addressed. so my naive redid that is i think this time wall street is wrong about that. be careful what you wish for because there are some things that you like wall street that you want addressed and gridlock unless the parties have some miraculous come to jesus moment. it's not happening. i agree with you, and i think there's a pent up demand inside both parties to actually get some stuff done. the infrastructure bill that passed bipartisan late. you and i talked about last year members were like, why did that take 10 years like we should do that? and you and i were talking off break like debt is one of my big issues. both parties have responsibility to figure this out. social security medicare investing in some of the future here. we've got to do that. and that takes bipartisanship. and you know when i was in the white house, negotiating obamacare for

barack obama, i didn't take barack obama took joe biden because both sides love joe biden and that he could cut a deal. and so the question he did, and he did in the question is, are we going to see that again the way he did it on infrastructure last year, and can he and kevin mccarthy put aside to politics? and cut a deal. you know the my producer gonna kill me, but i always love having your mind. so if you'll indulge me the worst thing to happen to joe biden, i think is democrats taking the senate and the house because it was just an open runway they had they had the run of the table, and it made a guy who was much more moderate in tone. sort of seed to the progressive base of its party and do their bidding. and i never thought he was that now you don't far far better than i , but the one thing that might be productive or helpful for him. if it's just the house, maybe even if it includes the senate. yeah he's got divided government. it's not only one way it might force him. to moderate more to pull a bill

clinton or something, or to a lesser extent, barack obama. what do you think? i think that's right in in a way. what is true is that's where his heart is. he wants to be the guy cutting deals and get things done. yeah, that's right and two for his reelection prospects. let's just be completely >> why? because they went too for on some stuff. you could contrast and triangulate. kevin mccarthy said they will pass a bill on anti-choice, on the floor of the house. right after they lose all these seats because they have to because their members are screaming at them. they will walk right into what joe biden wants. that divided government is good for the incumbent. neil: good for the incumbent. so good for joe biden? >> good for joe biden. neil: good for his case to make i should be the nominee in couple years? >> absolutely. after last night we're done with the whole primarying joe biden discussion. neil: i always learn a lot, jim.

>> thanks for having me. neil: horse is doing okay? >> doing okay. neil: jim messina, former white house deputy chief of staff helped get barack obama reelected. that was a given, well, i cover i had it back then t was not a given at the time. just showing my age. i don't look it. okay, i look it. want to take you to wisconsin right now. grady trimble is there. i guess they have now made it official, ron johnson did in fact win that senate seat, in other words got reelected. what is the latest? reporter: they did, neil. ron johnson told us last night before 1:00 a.m. central time, the race is over. the fox news decision desk officially confirmed that, projecting him the winner against lieutenant governor mandela barnes. barnes put up a fight. he is down only by about 1%, 30,000 votes. if last night proved anything to

us, wisconsin is as purple as a purple state gets. in the same election voters chose a republican senator, incumbent ron johnson, and a democratic governor, incumbent tony evers. barnes had the endorsement of barack obama here a couple weeks ago trying to rally voters behind him. he also had the abortion issue likely working in his favor, getting voters in the democratic strongholds of will walk key and madison out to the poles but johnson was hitting him repeatedly linking barnes to the inflation in the state of wisconsin as well across the country as well link him to the defund the police movement which he expressed support of in the past. that didn't seem to fly with voters here. those two issues of inflation and crime were certainly top of mind for the voters we spoke to. what is interesting though in wisconsin, is that a lot of voters, republican and democrat were splitting the ticket. tim michaels who lost in the

governor's race, didn't perform as well in republican strongholds as senator johnson did. barnes in the democratic cities didn't perform as well as evers did. so that is likely what this race came down to here in wisconsin. now we should point out that barnes has not yet officially conceded either in a call to johnson or in a formal press conference. we are expecting to hear from him. we will follow those developments as barnes is expected to speak in about 20 minutes where he will likely concede as we have now called this race for senator johnson. neil: in other words, keep that seat. thank you for that, grady. jim messina was ready to leave here. we roped him down into his seat because i did want to talk to you about that. this ticket splitting you hear

so much about where georgia in particular, the governor couldn't translate his big win there over stacey abrams into a big enough lead or win outright without a runoff election to herschel walker. this played out in all number of districts and states across the country, both sides. >> new york. neil: new york very good example. what do you make of that? >> real live ticket splitting is back in american politics. we haven't seen that in the past 10 years. that is exciting. one way like in pennsylvania shapiro probably drug fetterman over the line because of his big coattails. on other hand georgia, in runoff, herschel walker has real problems. all the republicans very excited about voting for kemp and switched and couldn't vote for walker. now they will not come in a runoff. that is problematic. neil: a lot didn't vote at all. numbers don't add up. mower people voted in the governor's race than senate race. >> hochul, it's a killing field for democrats in the

congressional races. that is real ticket splitting as well. that is healthy for the country. neil: at least four blue seats weren't red in new york. jim, we're not letting you go. thank you very, very much. we'll update, kevin hassett, former council of economic advisors of donald trump what he makes of things jim and i were talking about here, the pressure on republicans to do something, not just keep the grid in a lock. after this. this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪

(vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned. ♪. neil: all right, at the very least republicans look like they're on their way to controlling the house of representatives. the senate might have to wait a while to get details on that. kevin hassett, former council of economic advisors chairman, author of "the drift." kind enough to join us. kevin if you're advising republicans first item on a to-do list taking over the house, what would it be? >> i do talk to a lot of people

i wrote a piece in "national review" that summarizes in detail what needs to happen now. frankly i would advise president biden the same. the basic problem where inflation comes from, something you and i were talking about for years. part of it is runaway government spending. right now if we look at 2023 government spending it will be about $600 billion more than we projected in 2019 it would be. 600 billion. and so what usually happens when you have gridlock, divided government, is that people agree to reduce spending, to pursue deficit reduction. deficit reduction could help the fed achieve goal of reducing inflation. i did a back of the envelope estimate if you cut by a couple hundred billion dollars spending, still 400 billion above what we thought in 2019, that would reduce the inflation rate by about a percent. what they need to do is have a strong anti-inflationary agenda. try to get buy on bipartisan basis, do it with deficit

reduction. neil: that is not a bad idea. unfortunately we're spending couple bucks on higher interest rate to carry our debt. so you you have to double that. >> yeah, it's a heavy lift. why was it a light lift to go that much in the other direction? neil: very good point. >> i think, anyway the bottom line is, as an economist all you can do is point people in the right direction and the right direction right now is deficit reduction. we've seen it in the past. really help inflation reduction. i think if we don't get that, then we are going to be looking at a pretty deep recession next year as the fed has to hit the economy much harder than it would if it had help from fiscal policy. neil: now you are a numbers cruncher. brilliant guy. you're not oblivious to the political environment. we know your former boss, donald trump is going to be addressing a likely presidential run in six days. now we have this new rising star ron desantis who wins in a

country mile in florida. that sets up sort of like godzilla rodin thing. is it going to be divisive to the party if it comes to that? >> i think the best thing that happens when you have a strong horse race you end up with a winner that is a strong horse. and so, i expect on democratic side i agree with previous guest, jim, likely president biden will run now. if there is horse race on the republican side, that will only make the candidates stronger. again the thing i also agree, you guys had a great conversation right before i came on. i agree with the idea that i used to teach government at columbia university. we used to have like half a class on defining what's a democracy. for example in the japan the same party always wins is that democracy? i think that students always ended up at the same place is democracy is a place where on election night you don't know what is going to happen and i think we really proved that we're a democracy last night.

i think that will probably mean that there will be a lot of unanswered questions going into the next election as well. i think it is a good news for our democracy a lot of things didn't expect happened last night. neil: it isn't the end of the world. that is what democracy is all about. you zig and zag and we as a country get through this. thank you very much. a lot of breaking news. draw your attention to corner of wall and broad. we have a selloff going on. we don't know implications of yesterday's vote. not quite sure on the house. not quite sure on the senate. we know there is a lot of unfinished business. stay with us. - my name is mary tallouzi and i'm a gold star mom.

daniel was a helicopter electrician. he was very proud to be a helicopter electrician because his uncle was a helicopter mechanic in the marine corps. on september 25th of 2006, dan was severely injured while at camp taji in iraq. it was while he was at walter reed that wounded warrior project walked into my room. they thanked dan for his service and then they assured him that i was not alone and i look back at that and i think, no one could have asked for a better advocate because not everybody got to do what we did. for example, go to a private hospital that was number two in the nation for traumatic brain injury, to transition home and be able to wait for a new home. when you have time to reflect, you realize all along the journey, all along the journey, they were there. (light music)

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neil: we knew this day would come. susan li has been warning us about it, big layoffs at met at that, i mean big, huh? reporter: talking about 11,000 employees. that is 13% of the 87,000 they employ all around the world. that hiring freeze will extend until the first quarter of 2023. if you read through the lines, read mark zuckerberg's conciliatory email announcing those layoffs, if we bring up the quote, he says i made the decision, he made the decision to significantly increase our

investments and unfortunately this did not play out the way i expected. not only has online commerce returned to prior trends but the macroeconomic downturn, increased competition and ad signal loss have caused our revenue to be much lower than i expected. i got this wrong. i take responsibility for that. neil: but he didn't fire himself? >> well he can't because he has super voting rights on more than 50% of the shares. no one can get rid of him. he probably won't fire himself obviously. neil: you -- [inaudible] >> i think in the valley, i think meta is victim of everyone else overhiring last few years. neil: look at twitter. >> reporter: they're cutting 50%. not just meta. you mentioned twitter. snap cutting 20% of their staff. stripe one of the most valuable startups in the world cutting 14% of their staff. redfin is slashing about 13% of their workforce. sales force, mark benioff less than a thousand jobs. last few years in silicon valley

they called it salad days. all the technology companies flush with cash. they have been overhiring. 50,000 of these 87,000 were hired in the last two or three years. neil: that's right. reporter: at facebook, a lot by the way was cutthroat competition so other people couldn't hire. neil: salad days. dessert days. susan, thank you very much. we just truncated that time. we'll have more after this. ost. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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