for more duncan davidson of bullpen capital and stephan of slated great to hear from you both. what's going on with these shares >> the people's republic of california is about to pass a law which is going to hammer their gig economy. it makes their gig workers into employees and hurts their finances tremendously. >> is it something they should have seen coming >> they have been fighting this all over the country they are lobbying like crazy california is a one-party state. it's likely this will pass both the assembly and the house then it sits at the feet of gavin newsome. the governor wants to run for president in 2024. i'm wonders if he may veto this because it's not going to look good for him to run. he'll get a lot of people saying this guy took away my uber in california, his base is tech. the tech people aren't going to want this either we'll see. >> i'm curious for your thoughts on that before we talk about we work what's happening in california >> well, california is usually at the forefront of social causes and social needs. sort of union mentality. what they are push

dan primack, duncan davidson and leslie picker. now, eamon javers is at the white house with more. >> reporter: we'll see this tape of the president moment yarm, but a senior official tells me that what the administration is contemplating is removing an fda waiver that this official says was initially granted under the obama administration, then extended under the trump administration and now will be removed. that waiver allowed the sale of some of these nontobacco flavors for vaping and e-cigarette products so, the idea here, the official says, iso go after anything that could be seen as marketing toward children -- sweet flavors, bubble gum and the like of these vaping products and the official telling me that a lot of the initiative is coming from melania trump, the first lady, who is very concerned about the idea of companies targeting children for these vaping products. so we'll see those comments here from the president in just a couple of minutes. >> eamon, thank you. eamon javers bringing us the latest and again, we'll get

have investors had enough of these money losing start ups i'm joined by duncan davidson. bob pisani is monitoring the situation at the new york stock exchange and sarah fisher is with axios duncan, you said look, there's a price in which you'd be abeer of pell top, but it's pretty, it's well below where we're trading at here. >> this is an example where you're buying a stock and not the company. the company easter risk. but i'm more interested at $14 a share and not 27 >> why that number >> if you look at fundamentals, to really love the stock, you have to believe is going to do what uber did. everybody had doubt about uber when it first started growing. they said oh my god, it's going to take up so much of the market this could never be a big company. it grew the cab market by three to five times. you have to believe in the peloton case, it's going to grow the gym market by three to five times. i think it's really hard because uber was cheaper than a cab. a >> and sarah, people in the last couple of weeks have focused on a business mod el it's their use of music. they hav