emily: we have the letter from marc andreessen should he is -- mark anderson. he is writing to communicate his immense objection. please immediately remove all multifamily housing. this is in all caps. they will massively decrease our home values and immensely increase the noise pollution and traffic. you reference a blog post he wrote a couple years ago that it is time to build indicating pretty big picture, not a lot of details about what he was saying. this of course on the back of a very big check he wrote to the controversial founder of we work to re-envision housing. there is some irony here. >> i think it is a classic nimby mentality, which stands for not in my backyard. as seen as it is proposed in atherton -- it is extremely wealthy. all the big names lived there. they like it because it is private. it is really not dense. they are surrounded by other very rich neighbors. there is a strong -- of course we like housing but not where i live. that is just a very common attitude. it is funny to see it show up here. emily: it is not just marc andreessen. a

the last thing is marc andreessen is a not in my backyard person. his wife wrote a letter to their town, which was planning to build some multifamily residences. they said, no, under no circumstances, do not build that near our house. it will drop the value of our homes. we don't want anything to do with that. so, the reality of our problem, which is inflationary here with rents in this country, and it's very bad right now, is that we need to build more housing. and that's not what this does. that's not what a guy like marc andreessen wants, even though he wrote this long letter at the beginning of the pandemic how america doesn't build anymore and we need to build more things. i guess as long as he doesn't have to build them, pay for them or look at them, that's fine. but if they're in his backyard or want his money, building housing is not an investment that silicon valley or marc andreessen is interested in. it's the investment that will help our country. goldman sachs said the stickiest part of our inflationary problem is housing, rents. you jus

and co-founder marc andreessen writing in a blog post today, "we think it is natural that for his firstework adam returns to the theme of connecting people through transforming their physical spaces and building communities where people spend the most time their homes. our deirdre bosa, who's covered wework for years, joins us for more and deirdre, my question is did marc andreessen not watch "we crashed" he must have he got a little jealous he didn't have a part in it, sara it's a lot of people, not just wall street buzzing about this a lot of of people in the bay area are kind of scratching their heads and thinking okay, adam neumann may be still this kind of incredible founder and entrepreneur a lot of charm really good pitch man. but if you think that he's been humbled from the experience with wework, why throw another $350 million at him for a company to value it at a billion dollars prelaunch? it feels sort of like deja vu all over again in terms of what the actual business is, flow, we don't know a lot of the details but it does sort of feel like similar to what he was doing with

it includes names like marc andreessen. for a better sense of the sentiment there, i want to bring in the zillow co-founder and 75 anthony founder spencer rakov. if we were to take the temperature of the markets it is , anything but 75 and sunny. what is the temperature in l.a., the market temperature? spencer: it is hot. we are not going to let a weak couple of days in the stock market damper the enthusiasm for tech in los angeles. it is a really exciting time. the conference this week, it was kind of an un-conference. we announced it to the community a couple of weeks ago and that we have over 300 events -- and we have over 300 events and 16,000 people, many of whom come from other areas, filled with enthusiasm and excitement. it is a boom time here. emily: tech has been changing. we talked about the movement away from silicon valley. but now, with more distribute it -- distributed work, remote work what is the power of the , l.a. tech hub? spencer: l.a. is the intersection of media, entertainment, pop culture, commerce.

more recently marc andreessen did. his wife wrote how much they would lose.us wework thing, 350 million. the point there are serious efforts to change the white picket fence, notion of the american dream. do you worry about that at all? >> i mean i do because charles, let's think about how you build generational wealth. for do many generations it has been owning your own property, being able to leverage that, instead of paying rent, not being able to build equity. you build equity you can borrow against to send your kids to college or make some bigger purchases, even to buy other property and become a small investor, start a business. so when, i worry when it is very difficult for first-time homebuyers to get into this kind of market. charles: yeah. >> i'm also not bought into the idea that the same guy who took wework as an idea and really was not able to turn a profit is somehow going to solve the challenge of affordable housing. charles: yeah. >> what we actually need is zoning reform in this country. when you have a limited supply of being able to build,

executives and investors are campaigning against multifamily housing coming to their neighborhood marc andreessen, including the investor who just gave controversial wework founder adam neumann a huge check to re-envision rental housing. and last year was the most lavish on record for executive paychecks by almost any measure. more than 30 public company executives were paid $100 million in 2021 according to the bloomberg heat index. we will dig in. all of that in an moment, but first we want to get a look at the market. stocks ending in the green after swinging between gains and losses. cisco rising after a an upbeat forecast and bed, bath & beyond sinking on the back of a filing by gamestop chair ryan cohen's firm. bloomberg's kristine aquino is here to tell us all about the day. kristine: emily, it really is all about the dip buyers today. in the absence of volume, the path of resistance for stocks is higher. green across the board in the text complex. the nasdaq finally delivering a gain, the first in three days. even semiconductors, they have been battered for the last two days but they are