strict regulations france and germany wanted it bothers them that amazon google microsoft and alibaba dominate the market for cloud services and that the u.s. and china have very different approaches to data protection the question is if you're capable of creating a cloud without those big tech players. need a place to put your new construction plans more and more companies worldwide are storing files like that in the cloud all kinds of data can be stored there the advantage is that employees can access it from anywhere in the world at the same time anyone can use the cloud to access familiar programs such as word and companies can upgrade to more storage space at any time if need be the disadvantage for european data protection is that only 4 providers dominate the market just what they saw that american and chinese companies have a clear supremacy in the world market it means they have a certain amount of influence over the data and that worries us from a low point of view. it's not so much the economic aspect but simply the fact that these companies can easily exercise control over

another one of your calls is that google cloud will make significant roadway into that. how do they keep up with amazon and microsoft dominated to this point. john: i think scale really wins the game. google has differentiated to use on analytics, getting developers to use the tensor flow framework for machine learning, ai basically. microsoft and amazon are involved in that too. but that's one of the things google can do to differentiate. tensor flow is very popular among developers and the developer community is always a great leading indicator of what is going to be successful and what is going to be adopted. taylor: finally, oracle is splitting up hardware and software. john: i think it is time. there have been a couple of decades of acquisitions that were really targeted at the old client server sort of world where you wanted to give an enterprise customer the database, operating system, everything. that was effective. but in the cloud world where most of these enterprises are now trying to outsource their infrastructure to the google and amazon and microsoft azure, then value proposition turns around and it hu

oh but the silver screen seems to the out done by real life the silicon valley 6 amazon netflix apple google microsoft and facebook have a combined market capitalization value of roughly $4.00 trillion dollars they are worth more than the $1000.00 companies listed on the london stock exchange these companies have a special knack for not paying taxes according to the fair tax mark community group they seem to have avoided paying roughly 100000000000 dollars worth of taxes around the world now how exactly did they pull this off let's look at the details now the report says that amazon paid only $3400000000.00 in taxes this last decade while they made a revenue of roughly $916500000000.00 and made profits of roughly $26800000000.00 fair tax mark said this means amazon's effective tax rate was 12.7 percent while the standard tax rate for american businesses was 35 percent for most of that period amazon has gotten a lot of heat from u.s. politicians over tax issues both trump and the democrats seem to disapprove i have nothing against amazon but no company pulling in billions of dollars of profits should p

empleado de empresas como amazon, microsoft o google han exigido sus compaÑÍas que rompan lazos con icenes e incluso empresas aÉreas se han negado a llevar a niÑos que han sido separados de sus padres. y esa negativa de muchas empresas aÉreas a trabajar con ice en la deportaciones tiene consecuencias, una de ellas es un aumento considerable de los precios. el informe pica que vuelo que inicialmente costaba $17,214 por hora, acabÓ costando casi el doble $33,500 por hora porque sÓlo avión empresa para realizarlo. el costo final del vuelo fue de 1.8 millones de dÓlares, el mÁs caro en la historia de ice. ice paga alrededor del doble en esos vuelos del precio normal. [habla inglÉs] pablo esta que esta firma hasta que no haya una reforma migratoria paradÓjicamente muchos de sus inmigrantes volverÁn a estados unidos. >> porque la realidad es que la necesidad y el miedo que tienen es mucho mÁs grande que cualquier cosa que pueden poner. pablo: si son arrestados empieza otra vez el ciclo para la exportaciÓn y con cargo contribuyente. >> cuatro personas morir y docenas mÁs temen atrapadas en la

amount of data, more and more business started moving them to cloud, public cloud like amazon and google and microsoft. so this kind of shift is happening in data. you need new tools to make sense o f t of the data that you are collected. that's why we are doing well >> so on hulu, i am trying to want more subscriptions and trying to figure out what drives more subscriptions, i hire thought spot to figure it out? >> two things, people don't produce contents without understanding how it is going to perform, for example, if you have a can of coca-cola, that's the reason it is there it i decision now it is decided on the view of how it is performed based on analytics. you can see that and the process is heavily influenced by the data that goes into it customers like hulu did a couple of things like hot spot. product 360. take a product and see how this product performs around it who's going to watch it. take your program, you are one of the most data driven sort of programs in all of tv. and i am sure that you probably get reports of viewerships, right? >> i try to figure out what stocks are heavily trad

in general, if you move into public cloud, you have to deal with amazon, microsoft, google, digital transformation have to deal with sales force and a number of these folks. larger names are in good position digital transformation isn't going to take a vacation >> steve, i want to bring in tom fort of da davidson, research analyst there into the conversation tom, we were talking a little earlier with steve about the idea you have a digital tax fight now which may imply an alliance between the trump administration and large tech companies. how do you see recent developments shifting regulation of big tech these days >> i think, amazon, apple, facebook, google, regulatory risk on a global basis is very important and must be monitored. but to your point on france, if you look at the tariff situation between the u.s. and china, to the extent that the u.s. government is trying to get the chinese government to honor intellectual property, that's beneficial for big tech firms. to the extent you might see tariffs on french goods as combatting digital tax there, that could be beneficial for big tech, most

chancellor angela merkel has urged europe to seize control of its own data from the likes of amazon microsoft and google there are so many issues for us to discuss here let's bring in our guest joining us from london is frederica counselor who is a missile attack policy fellow good to have you with us on counting the costs frederica how widespread is discrimination particularly against women and is this partly down to the fact that the coding industry is is so male dominated. thanks for having me i think a lack of diversity is a real problem in the tech industry and not just in the tech industry if the workforce was more diverse especially in management and in engineering the outrageous scandals that we're seeing now would be picked up much earlier and we also would see very very different products but i also think it's important to say that diversity alone that's not the only problem that the tech industry has there's a general lack of accountability and the sort of automation and automated discrimination that we've seen just empty fi's this existing problem which is the lack of accountability you talk

economy aside from the amazons and googles and microsoft so there's a lot of support and back i guess support with respect to what really these companies are doing these days versus what some of the companies were doing 10-20 years ago so to me that means there's a lot more staying power in todays moves and a lot more things to be excited about as an investor in the nasdac composite index. charles: with the s&p 500, 450 stocks are up only 55 are down same thing with nasdac, monica a whole bunch of the names are up and just not those household names not about apple, not just about amazon. one of the big winners this year , lululemon, charter communications, advanced micro, lam research, these kind of names, they aren't necessarily household names they have been around for a while, people like you i'm sure know these names but the average investor may not and personally it's good that the breadth of the leadership has expanded. >> well i think in general consumers are looking for yield, so they are going beyond just the regular names that you hear all of the time. its been a very strong

i let economic analysis of several cases involving digital platforms including google, facebook, amazon, apple, microsoftand others. today i would like to make four points. my first point is about data some, to argued date is the new oil others have gone to the opposite extreme bike claiming it strong as you. these are not very useful. it is since evident that date is key for these platforms and also only a few gatekeepers are in a position to control the tracking and linking of behaviors across platforms, online services and websites. they can combine several data sets and create super profiles of individuals. this is a market for individual attention analysis has to be conducted as an example if we open all of us in this remote our facebook accounts, if you have one and we just look at the ads popping up, you would see totally different ads. this is completely different from traditional media. unfortunately the debate over the lack of data is not held by the lack of economics. the large digital players have not made any data available through independent researchers ever. and already the silicon valley

these are the five biggest apple, microsoft, google, amazon, facebook all down more than one percent almost 20%, not quite, of the s&p when you have this down, you drag the whole s&p 500 down. then you have a bevy of high beta names, netflix, visa, nvidia, the semiconductor names. when they're down 2%, also big cap names in addition to being high beta names, no surprise you get this my sense now is the important thing is the consumer is still strong that's the single most importantly thing we have going. the market was a little overbought in december, working off overbought conditions. this is probably healthy most important thing is we need to see that narrative, accelerated or bottoming growth narrative strengthened that will probably happen the next few weeks potentially back to you. >> has to be proven in numbers tech sectors among the biggest laggers. ahead of the invite only event this afternoon in new york, joining us to discuss the stock, analyst jeffrey kwaul and thanks for being here start with the event obviously doesn't seem like a big financial market mover, what does it

google with the cloud. but when you look at the cloud market if you take amazon, microsoft, and google and add them togetheron worth of revenue in the cloud. the problem is -- amazon is twice the problem as microsoft and amazon is eight times the size of google that's one of those other things that they'll have to really deal with, all right, how do we get bigger and stronger in that? and they're also obviously trying to do their own phones, et cetera. a lot of these businesses have lower margins. so there's going to have to be some bounce in between the two but obviously, google is one of the greatest companies ever founded. there's still a long runway to growth only about half the ad dollars are online right now and there'll be more and more going online so it's hard to -- those are obviously longer-term questions that need to be answered as they move into these different areas and trying to gain traction, which has lower margins. but for this price, the stock is obviously not overvalued at all. they generate tons of cash it's a great company, no question >> yeah, dan, to dig into it a little bit further,

unfairly excluding its rivals, whether amazon is treating independent software service providers differently if they also use other cloud providers like microsoft or googleose are the sort of market practices that the ftc will likely be looking into, and we will see if they find anything. taylor: any sense on how amazon has been responding to this? naomi: amazon has not publicly commented, but we do see them talking more publicly about their cloud business. they have shown no signs that they are worried about this at all. so it seems to be at least publicly business as usual for amazon. taylor: does any of this have a real impact on the fundamentals of the business? how are these headlines impacting earnings or the share price? >> i think that the antitrust risk at this point is priced into amazon shares, which have pulled back year to date compared to the overall market. or the retail performance year-to-date, amazon has not done as well, and it is because of this overhang. one of the risks amazon has faced is the overhang from antitrust. in terms of the stock price, there is an overhang on the stock, but in terms of the overall operations of the compan

amazon is dominant. microsoft doing extremely well. google of the cloud era and they are perceived as being a little behind. it is interesting company stock continues to gain after-hours, not to about $1300 per share. again, not a huge move, but obviously this is not the kind of management change -- scarlet: it is not disruptive. romaine: we want to bring in somebody who probably knows a bit more about this than we do. mark covers google. this does seem like a little bit of a surprise. are you surprised by this and what kind of transition if any do you think there will be here? mark: the science of been here for a while. larry insert a have receded from public life and certainly from the company. they stopped showing up to the regular all hands meeting this year. they put all of google in the hands of sundar pichai. the bigger question is sort of what it means for the structure of alphabet going forward. ergey have been involved in biotech, health, self driving cars. they said today that these youanies will continue to without them. i was spe

had a great run companies kristina we love we talked about on air boulevard whether apple microsoft amazon googlehave had good runs this year so i wouldn't chase those right here, but look for industrial companies, maybe some of the little maybe lessr known tech companies. >> can you name some give me names? >> yeah i mean 3m actually here industrial company 3m versus pierce really held back, due toting concerning earnings concerns i think 3m to pick up in industrial space even today broadcom having a rough day overall a nice year i think broadcom is going to remerge abgo end of the year. >> writing those down to follow up with you on that, thank you as always. >> see. >> biyou can't escape them we are escaping scottie but every time i try to block one number another one comes up, robocallers on the rise now using a household name, to get you to pick up. we have the details next. ♪ you are the one... nothing shines brighter than you. you are my rock... nothing is stronger than you. you are one-of-a-kind. i love every facet of you. you are my diamond. for the diamond in your life, there's only one

to the cloud from mainframes and very old data centers, that is where amazon is doing a lot better compared to microsoft and googles where i am willing to bet that amazon again steps away from the cloud and continues to hold market share. taylor: picking the other two favorite children, facebook and google, i am showing a chart that is total ad revenue, google and facebook clearly number one and number two. are those the best two poised to benefit from a very constructive ad spend market? rohit: absolutely. they are having a symmetric amount of growth and a symmetric amount of market share from dollars going from offline to online channels. facebook and google both are multi-headed monsters. with more thans a billion users or eyeballs as you call it. amongst the social media names, i like snapchat, where snapchat might be positioning itself as somebody who can take available share from twitter amidst all the political advertising debates going on. taylor: within big tech, antitrust, data privacy, do you shrug it off because the fundamentals are strong? rohit: i feel that the order, amazon, facebook, and google, th

harder than others you don't want to separate your what google is doing and you have google and amazon and microsoftto declare war on i.c.e. they are pressuring the ceos to stop doing any business at all with anyone who worked at dhs we need to get herself off of those platforms. there is a point we thought microsoft would rule the world that no longer exists we don't have to deal with them and capitulate. i have even changed banks from a national chain to a local bank in my hometown. that was my first step and then we have to lobby ourselves and raise our voices and pressure the people here in the swamp to defund these exempt groups that are engaging in this seditious behavior. >> i appreciate your book and the timing of it i think we can solve this problem is we have set in committees on capitol hill but these one-page bills that would solve these problems and solving i.c.e. at $1 billion and to stop the cartels labeling them as foreign terrorist organizations to take that resolve to do what i appreciate you exposing the network running against with the american people want so people can come here

. >> when there's excess capital in the world, when you have large platforms like google and amazon and microsoftng at the rates they are particularly around software, they're going to vacuum up the talent. you're going to have an escalation of what it costs to hire that talent there are have some fresh students out of university today in machine learning that are earning over half a million dollars a year in year one as an engineer and so there is this war for talent but i fundamentally believe that ecosystem in silicon valley, the capital, the people, et cetera is as vibrant as it's ever been. remember, silicon valley builds on itself generation after generation there's an organization that's gotten started recently called operator collective, group of largely women operators, the best operators in silicon valley, that are investing their expertise and their capital into these companies to help them scale. so i'm very bullish on the state of affairs in silicon valley, but the reality is, we will have more remote work forces. whether you look at the tax regime or the lack of human capital here,

there are four or five names in tech that are under the regulatory spotlight, facebook, amazon, google, apple, microsofts willing to do this with facebook with assets that have already been approved and purchased, it probably would put a lot of pressure on these companies to not do any major acquisitions going forwards. >> apple is vulnerable i imagine if you look at something like this. >> no. no andrew, step back. i think it would be the ability of these companies to do large scale acquisitions going forward. anything they would consider in the future they'd have to think about the whisk of that being unwound several years down the road it would be a chilling impact on future m&a. >> small deals as well >> small deals like google for f fitbit gets through. anything sizeable, 10 billion or above. >> thank you for waking up early. appreciate it. >> thank you, andrew. >> nice to see you happy holidays. >> you, too. >>> futures pointing to a record high another one for the dow. we'll get you up to speed on two big stie u. econors,.kelti and phase one deal that's next. ompany's growth. i try to find compan

that are still being worked through, in particular by large tech platform companies, like microsoft, google, amazonthat has been litigated extensively in the media but i think that by and large, there's a great deal of interest in the startup community, tech community in silicon valley of returning to the roots of having conversations about doing meaningful work with the government. >> what does it mean in terms of investment possibilities and opportunities for someone like you? >> i think the challenge to any venture capital economic structure is that it might not make sense for large venture funds to invest in companies unless they have a high possible ceiling on valuation and market company. companies like palintir and spacex since the end of cold war, commonality of those put them directly in competition with the primes, systems incident gray tore, lockheed, general dynamics and so forth. things i am interested in looking @founders fund and other ven tul capital, are finding new prime minister, the next generation companies that are going to come in, compete. >> companies like andrel >> in term

so, companies like amazon and ebay, google, facebook, ups, microsoft, ibm, b of a, accenture, and many others are making large amounts of money collecting, analyzing, analyzing, leveraging, and distributing data. no manufacturing required. people sitting in an office building, air-conditioned, moving bits around. all these companies are delivering products and services that contribute to our prosperity. because they are doing it, we are enjoying that. that prosperity they are providing. another question, what responsibly do they have in in protecting this information we have gathered, that they are gathering and creating? should these companies treat our data like banks treat our money? or maybe banks used to treat our money? what penalty should be levied on the loss of this data? what value should we place on things like social security numbers and medical records and banking account information or purchases. emails and tweets and website visits. information on our physical activities and pictures or videos, and all of data information. what value should we place on that? should we st

amazon in the lead you've got microsoft, google, ibm and others competing for logos, big names especially. if they can say we've got them in our camp. down the line profits will be important. a lot of that will depend on how good are the services that these clouds are delivering to people. how well are they able to run artificial intelligence. applications on top of these collud clouds how low is the latency where they need to get in data from sensors and get actionable information. great to have you with us. hans, give us a sense of the economic stakes. in three years, how much of your business revenue, say, is going to be cloud connected? >> i think that we outline in the beginning of the year our strategy we launch already in 2018 and now the 5g mobile. bringing the process and power out of edge of the 5g network and today we announce to do that with the new application wavelength this is an enterprise solution but we see many new solutions. i think it's a big market. we're excited. >> wavelength is about taking amazon, aws compatible equipment, bringing it closer to the customer by pu

. >> it's about mag oi microsoft, apple, google amazon in the new year.up half of the nasdaq 100. and they have outsized ganes i want to focus on apple because josh had predictions 5g, the ramp, that's important to remember it was up 86% on the year. up 100 peppers from the january 3rd 2019 lows thp this is a year where earnings and sales did not grow for apple when you think about the multiple the stock is trading at, it's pure multiple expansion based on what is to come in 2020 and i think the idea of playing for some 5g supercycle doesn't make a whole heck of a lot of sense right now. i want to make another point we talk about semis a lot and they outperformed. there was a headline huawei we know where they sit in the global trade war they are the number one market share provider of smartphones in china. they released an i feen 11 alternative in their home country that does not have any u.s. chips when you think about this, if this trade war is to play out, we see nationalistic tendencies on brands and then you have the inability to put your u.s. produ

think about the products of the biggest five american technology companies, microsoft, apple, google, amazonfacebook. even if you are the biggest luddite and you are not going to be on any of these things, it is really hard to go through your life from dawn to dusk in modern america without it some way without being affected by one of those companies. this is driving the conversation in washington. what is the role of these companies in shaping the political and social life of modern america? susan: what are the characteristics of these companies? was it, hubris? naivete? inattention to certain details? what do you think are the factors? professor o'mara: it is helpful to look at the history of silicon valley itself. these companies are the product of a business culture, a business ecosystem. i call it a galapagos, a very distinctive community that grew for a long time in relative isolation from washington. even though it was deeply affected by them from the beginning. you have high tech venture capitalists. they are funders, advisors, mentors. carrying on this distinctive culture from one g

amazon in 2020, what would be the biggest battleground for them? beyond e-commerce, you have cloud computing. more between them and microsoft and google. big horse race is to keep trying to gobble and amazon has an early lead in that. maintain thatg to early mover advantage. taylor: we are also getting some deliverooamazon's deal is being scrutinized in the u.k. is there a real threat there or is this more antitrust chatter? spencer: i don't know that you can just dismiss it as antitrust chatter. the antitrust chatter keeps building and building. the question is, where is this needle going to get red hot and prevent amazon from doing some things it wants to do? it is hard to dismiss it as just noise given all of the attention on amazon. the other thing i know is that the folks paying attention to amazon are getting smarter and learning more about its business. previously, i think a lot of them didn't understand it. how do you regulate something you don't understand? the greater scrutiny is definitely a threat. taylor: for all things amazon and the holiday shopping season, and spencer.deren coming up, we go through 2020 predictions with

unfairly excluding its isals, whether amazon treating independent software service providers differently if they also use other cloud providers like microsoft or googlethose are the market practices the ftc will be looking into, and we will see if they find anything. how amazon sense on has been responding to this? >> amazon has not publicly commented, but we do see him talking more publicly about their cloud business. they have shown no signs that they are worried about this at all. it seems to be at least publicly business as usual for amazon. this have anany of impact on the fundamentals of business? how are these headlines impacting earnings or the share price? risk at thisust point is priced into amazon shares, which have pulled back here today compared to the overall market. retail performance year-to-date, amazon has not done as well, and it is because it is the overhang from antitrust. price,s of the stock there is an overhang on the stock, but the overall it isions, i don't think material to the overall business. thank you both for joining us. scrutiny,titrust senator warren is acting on a presidential campaign promise to check the power of

entity on antitrust concerns, that's happened in the past with microsoft, amazon, google, et cetera. this is targeting them on a specious theory that let's get a digital tax because these guys have a lot of money because they are not putting the same on, in this case, french technology concerns. >> yeah, that's right. that's why this is such a discriminatory tax. it should be struck down by international bodies and i think we should -- there certainly is a process going on currently, i think we should flag this for the wto. that doesn't mean we shouldn't take unilateral action. i think it's appropriate for us to do so. i just want to make sure we are doing so in a manner that de-escalates the problem eventually, that solves this problem by getting the dst off the books, not one that leads to a further escalation and trade dispute we have been having with france and the eu broadly on other matters outside of the dst and get to a situation like the one we have with china where we have a protracted trade war that's very bad for our country. neil: yeah. protracted all the more. very good