i'll tell you one thing, for benioff, this interview in the tooi times where he refuses to acknowledgesoft's existence, saying who is that company, how do you spell it it almost seems personal now. >> that worked, carl, ten years ago, back when the narrative in the technology industry was that microsoft was this dinosaur. that doesn't work today. that's like somebody coming out with a smartphone and saying what is this about apple that sounds silly. you can't do that. >> these companies have been competing for so long. i was going to say, remember, guys, that not only did microsoft at one point look at buying salesforce, but both of these companies competed over linkedin salesforce, of course, is interested in buying linkedin and microsoft ended up buying it. >> and to say it's one of the most important deals of the year in tech says a lot we've already been through amd, record high today, and we've seen uber postmates, i mean, there's been a lot of m&a this year, but to say this is in the top, which it may well be, that says a lot. >> second biggest software deal ever, julia. >> and i

the layoffs will be effective january 4th. >>> ktvu is supporting benioff children's hospital on theational day of giving . we have the story tonight of one family. they say they are incredibly grateful for the doctors at the children's hospital. >> they are pretty incredible. >> reporter: he is not even 2 years old. he really is a superhero. he was born with a congenital heart defect. it required 12 hours of open- heart surgery at benioff children's hospital. >> it was astounding to have that fight for life at a young age. it is breathtaking. >> reporter: the fight for life continue the next day. his repaired heart went to cardiac arrest. he spent 12 days without open chest. he spent five days on a bypass machine. this dynamo left the hospital shortly after . >> he is wonderful. he came through and he is beautiful. he is our shining joy. he brings the most wonderful feeling inside. you could see it in the very beginning. >> reporter: they spent 57 straight days at benioff children's hospital. their new home in the comfort of their adopted family . >> it is amazing to see what they d

i caught up with salesforce ceo marc benioff about the deal. it is a marriage made in heaven, and we cannot be more excited about this combination and how it transforms our customer 360 vision and lets our customers work from anywhere. it is the most exciting thing i've been part of. emily: many people are looking at this as a defensive move against microsoft. what is your response to that? marc: you can see salesforce has never been stronger. we just delivered a phenomenal quarter, raised our guidance, $21.1 billion this year. we will do 25.5 billion dollars in revenue next year. emily, it is the fastest-growing enterprise software committee effort, of all time. salesforce has never been stronger. when we look at slack, also a tremendously fast growing company, but really has breakthrough technology, the idea that you can collaborate on channels, and we have integrated our products already, but the idea that you can have this next-generation work from anywhere environment, runs on my phone, runs on mike ipad-- my ipad, amazing what is possible

benioff had come on. the stock had fallen and fallenpy said, i think you have a winner, i happen to love the product. that's the problem, they love the product. this is not like 1999 companies where the public never even cared about it these companies are doing amazing things do you need okta as a passport to be known who you are online yes. i don't even know if todd mckinnon thinks it should be traded at that level they're really important, they are growing fast some are going to win like salesforce, some are going to lose it is literally the crowd, and i know because you could say well the crowd is typically who you want to bet against. le crowd trying to figure out what price >> jimmy >> i'm sorry, what this is. >> i'll take salesforce and agree with you while you were getting mic'd up, i said, put that one aside it's 50 times earnings put that aside >> tesla - >> let's look at snowflake let's take snowflake if you'll just indulge me. az 86 billion market cap i don't remember brad gersne rechlt's range

i have marc benioff. as the electric market heats up i'm airing another play via spac and eyeing some of the biggest names in tech to see if they still have bite in this market so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question, tweet cramer, #madtweets send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like... like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most plus $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today. don't get mad. get e*trade [what's this?] oh, are we kicking karly out? we live with at&t. it was a lapse in judgme

. >> plus, silicon valley's newest and biggest dealmaker, his name is marc benioff. the dow component salesforce acquiring slack, the price in excess of $27 billion. the largest deal that company has ever done. and the china strategy status quo. president-elect biden saying he won't immediately lift china tariffs. carl >> all right, guys a lot to get to today. we'll talk some salesforce, slack with jim in a minute this uk approval and the hopes that the fda is just about a week behind. >> look, we have to think about the number, the amount of vaccines out there, about 40 million. people are worried about 40 million in the united states this is only 20 million people 20 million people take care of all first responders, and we take care of the people in long-term care in our country. i don't think they're taking our vaccines we're going to have enough but this is monumental it is going to put incredible pressure on our own regulators to get this so we'll have this within the next ten days and david knows that i am bullish on this, that i was not even as bullish, i was

that was thanks to the encouraging news on the coronavirus vaccine. >>> ktvu is proud to support benioffn's hospital, on the national day of giving. we have the story of one family who is grateful for the doctors at the children's hospital. >> he is pretty incredible. >> reporter: this handsome toddler is a superhero. he was born with a congenital heart defect. the required 12 hours of open- heart surgery at the hospital . >> he had that fight for life at a tender, young age. it was breathtaking. >> reporter: the fight for life continued the next day. he went into cardiac arrest. he would spend open dates with the open chest. eight weeks and one day later, this little dynamo left the hospital. >> he is wonderful. he came through. he is beautiful. he is our shining joy. he brings the most wonderful feeling inside. you could see it in the beginning. >> reporter: they spent 57 straight days at benioff children's hospital. their new home at the comfort of their new family . >> it is amazing on what they do their. he fought every single day. you are treated as family, not a patient. they take

in february fbi, she began receiving chemotherapy at ucsf benioff children's hospital oakland.ea surgery in april. >> the tumor was 10 and a half centimeters long, and they took double that. that put this rod in. >> it likes a car part. >> reporter: all of this during a pandemic. friend shifts quickly ended. no roaming the halls. ucsf staff helped her bass the time. >> they said get her canvass and paint. that creativity started coming out. she started painting more, painting lots of canvass. >> reporter: she was in and out of the hospital during another 19 weeks of chemo. the celebrated her 1st birthday at home with a car drive-by, and by other, christie was cancer-free. >> christie, what that like ringing the bell? >> i don't like being the center of attention. it was more nervous. i backed away, and i was, like, okay, can i go home now? >> reporter: mom knows his daughter's competitive spirit helped her beat cancer and she can't thank the doctors, nurses, and staff at ucsf enough. >> they just make you feel like -- >> everything is going to be okay. >> everything is going to

do you think they'll do well with benioff? marc benioff, the ceo?ink part of the platform is going to be a good move to get them in front of more potential customers and give them that reason to grow and do more. slack does one thing very well, pa facilitate communication within a company, but it hasn't really gone much beyond that. our colleague alex compares them to twitter can also does that one thing really well but hasn't really grown whereas zoom, you know, has really picked up on the a pandemic moment. it was able to replicate business travel, people could have these virtual meetings and people could connect with family members and friends during this lockdown time. slack really hasn't found its spot outside. jack: i want to pivot to jack for more bad news for the movie theater business, but first, i want to remind him as well as our viewers about a prediction and a promise you made back in october. let's hear the videotape. >> if you see to e a wide theater release of that movie this year, i will dress as wonder woman on the last episode of

liz: at some point you have to talk t to benioff and at one pot he said here's the price and you saidit a little higher, this is a 27.7 billion every dollar deal for salesfor salesforce. >> i think is the second-biggest in software. the interesting thing, the whole tiktok is published in our proxy statements filed with sec so there's a lot of back-and-forth, went over a period of time so obviously the prices are disappearing and an important factor but it sounds silly, it's a little cheesy what we talked about how do we create one plus one equals seven, it's very easy to say were a software product, they have a lot of salespeople, of course we do that as well but what opportunities are there for nonlinear impact or dictate things in a new direction and that's where a lot of the excitement came in a lot of my desire to keep going as ceo of slack. liz: you will be staying on but when you talk about where you can take this and then what direction, we say slack at fox because we use slack and we absolutely love it but i don't know if anybody says we love team me, this is the big big, big

platform salesforce.com is going to be a $200 bill dow jones class rall under the leadership of mark benioff but thanks to the law of large numbers and, geez, you've got to keep scaling, it's very difficult for mark to go from the $200 billion to $500 billion that i think the company can go. why? because people salesforce is invisible. i'm not sure data scientists will be working sales and you don't interact with the software that's why mark needs a visible platform, something everybody can see and buy. don't get me work. salesforce works miracle when we sold last year we saw a 30% uptick, 30% uptic in sales immediately but i saw the 30% number because i was an executive. the rank and file didn't see salesforce but they did see slack. everyone sees slack. now the two of them are one, and that's what matters. no, the deal is not closed but you know exactly what i mean salesforce isn't the only tech company that has this problem when it comes to exposure for institutional and individual investors. digitizers that are transforming the economy are mostly invisible to everybody unless you persona

. >> on a week where benioff gave a great interview to the "times," what do you think is their processe large companies now, at one time they were young entrepreneurs and young developers doesn't they remember what it's like to have to use this stuff day to day >> i wonder about that we've seen this in the last 15, 20 years people really were the davids trying to take on the glie yac goliaths, and now peep like b--l like benioff are the goliaths. >> it a great piece. everyone should take a look at it thank you for being with us today. >> as we head to break, some electronic vehicle stocks under pressure today, rounding out a tough week nio down 6% today, and "squawk valley is back in just a moment see yourself. welcome back to the mirror. and know you're not alone because this. come on jessie one more. is the reflection of an unstoppable community in the mirror. >>> two huge consumer ipos, airbnb and door dash set to go public leslie >> it's going to be a busy week for listings door dash making its debut on wednesday and airbnb on thursday we could see nearly $6 billion worth of stocks

this deal, and i think the bigger thing to take a look at is the fact that salesforce.com's ceo marc benioffas made more than 60 acquisitions, as you know, in his 21 years, making salesforce.com the conglomerate of all these different pieces. now they have this communications platform along with their relationship management software, making them once again a big competitor to microsoft, giving them an extra bell and whistle. going forward, though, it is interesting because they also reported this news, but the forecast going forward is slightly disappointing. not that surprising to see that happen, the company giving themselves a bit of wiggle room. as you mentioned, slack at this point, because of this deal and the speculation last week absolutely taking off. the deal price is about 55% above where the stock had been last week. you can see just going up parabolic lay on the report, a little bit of sell the news. emily: put this in the context of what we have seen in broader markets today, given this essentially positive news around stimulus as we head into the holidays. abigail: stocks did

. >>> and this year ktvu is supporting ucsf benioff children's hospital. cristina rendon introducing us to a 12-year-old girl from castro valley who is beating cancer after a devastating diagnosis earlier this year. >> reporter: cyst -- gomes is christie gomes is very competitive, but a tumor was slowing her down in her left leg femur. >> ways, like, what did say they? and then she started cry asking i started cryin . >> reporter: she was diagnosed with one of the most common cancers of bone cancer in children. she had a nine-year-old surgery at ucsf benioff children's hospital. >> they took 20 centimeters and put this rod in. >> it looks like car part. >> reporter: all of this in the middle of a pandemic. friend shifts quickly ended. no roaming the halls. ucsf staff helped her pass the time. that and creative energy just started coming out, so she started painting more. paints lots of canvass. >> reporter: christie was in and out of the hospital during another 19 weeks of chemo. in july, she celebrated her 12th birthday at home with a car drive-by, and by

. ♪ emily: salesforce ceo marc benioff has done 60 deals in the company' us 20-year history and ended year with his biggest acquisition yet, buying slack, whose usage is soaring as employees work from home. one source called it a marriage made in heaven. marc: we could not be more excited about this combination, how it informs our custom-made -- our customer 360 vision and lets our customers work from anywhere. emily: many are looking at this as a defensive move against microsoft. marc: salesforce has never been stronger, phenomenal quarter, raised our guidance, $21 billion this year. we are doing 25.5 25.5 billion dollars in revenue next year. emily, it is the fastest-growing enterprise software company of ever, of all time. salesforce has never been stronger. and slack is a tremendously fast-growing company, but really has breakthrough technology, the idea that you can collaborate on channels. we have integrated our products already, but this idea you could have this-generation work-from-anywhere environment, runs on my phone, runs on my ipad, it is amazing what is possible here. em

marc benioff has a big personality. stuart butterfield has a big personality.e is very vocal on social media. how is that going to work? chris: that's a good question. i feel it can work. stuart has always been flexible. the whole slack story, it feels they have always been flexible and focused on continuing to build a more valuable company, and mark has obviously proven they can make even large acquisitions like tableau, which was $15.7 billion, i believe, very successful. that was a well-established company, and it seems some of these others like velocity are going to continue to grow, and a lot of those leaders are helping out. i think they will find a way to make it work. emily: interesting to hear your perspective, especially about your time at google. chris rothstein, ceo of groove, thank you for stopping by. we will be talking about this throughout the show. coming up, diversity in the boardroom. one of wall street's biggest names rewriting the rules. we will hear about that next. this is bloomberg. ♪ emily: nasdaq is joining goldman sachs in an aggressi

cnn notes benioff is about more than the bottom line.eaks out about social causes like gender and racial equality as well as homelessness. the company helped secure ppe for front line workers back in april during the pandemic. >>> the critics have spoken and they're calling wonder woman 1984 the superhero 2020 needs. this morning we're hearing from patti jenkins who wrote and directed the film. >> as a super fan of wonder woman myself, i had been waiting to see this movie. so the first movie, there was a lot of pressure. the second movie there was pressure to live up to the first movie and to do something new and fresh and, you know, i'm super happy with where we ended up. >> wonder woman 1984 will be released tomorrow and available to stream on hbo max. patty jenkins also is directing a new"star wars" >> between that and "soul" we have good options for christmas. we'll be watching. >> the abc7 yule log, too. getting into the christmas spirit. i think we all need that. >> mm-hmm. >> yes. good one, julian. tomorrow will be a great day to

this changes everything, no, not vaccines, what salesforce ceo marc benioff is saying about his company's biggest ever deal.unf trump threatening to veto what many consider the must pats defen pass defense bill. and joe biden speaking out over the trump trade war with china, his plans for tariffs in his first 100 days it is wednesday, december 2, this is "worldwide exchange." ♪ >>> xw welcome from wherever in the world that you may be joining us i'm brian sullivan we'll have much more are on that very good news out of the uk on the pfizer vaccine it is what we have been waiting for. ahead of that, futures are actually lower a bit but don't read too much into that because that down move is likely just the impact of one stock salesforce it is down over 4% right now and being a $230 stock in a price weighted index, it has a lot weight on the dow. of course macro markets have a lot of tail wind right now another record for the s&p 500 tuesday. the s&p is up 13.3% this year. and we got so specific and that number may be important because listen to this, dare we say, random but interesting nugg

he's twice as rich as marc benioff, the founder of salesforce. benioff has been returning those riches to the bay area with many charities. he's getting started on new charities. >>> and constellation brands has been going over its books and says sales of its corona beer were largely the same this year as they were last year. you may recall at the start of the pandemic there were questions about whether americans would buy a beer that had a similar name to a virus. it turns out, marcus and laura, americans understand the difference between a beer and a virus. can't always get them to wear a mask and can't convince them to stop traveling but we do understand our beer. >> and some people just won't give up their corona. >> that kind you don't mind getting. >>> 6:17. continuing our pandemic coverage this morning with a dwindling number of riders. experts are warning that the days of public transportation are numbered compared with last year. only about a third of riders use subway systems in new york and london during the pandemic. initial ridership

why she said she is so grateful for her doctors at ucf benioff hospital. let's take it outside to katie view backyard. the oakland estuary glittering in the noontime somewhat. we wake up freezing but the days are warming up nicely. rosemary is up next and she has your full forecast. in this family, everyone does their own laundry, but they all do it a little different. honestly, i add a couple of tide pods and just stuff everything in. it works. and of course, everyone thinks their way is right. i stood in line for hours to get this. it has to be washed on delicate. it has to be cold water, it's better for the planet. the secret is, with tide pods it all works. of course it does. told ya! they're going to do it their way, and i get a break from the laundry. no matter how you wash, it's got to be tide. about the covid-19 virus. it's real. and it's dangerous. so, on behalf of all of us working on the front lines, please take it seriously. and while we don't yet have a cure or a vaccine, we do know how to keep you and your loved ones safe. wear a mask. wash y

salesforce is buying slack, mark benioff's company.ieve the biggest acquisition ever it ever made. $27.7 billion to buy slack technology. both stocks after-hours are down a little bit. salesforce down a little bit down 3% where slack is almost break even, down a little bit, by 34 cents. anyway that is something to watch tomorrow but certainly slack would be a company a lot of people are familiar with, especially working from home communicating around office. salesforce has been around the cloud world a long time, led by mark benioff. a big acquisition, 27 billion. >>> president joe biden and vice president kamala harrisries made a big announcement. six members of the economic team are introduced. after announcing, former fed chair janet yellen would be hspic for treasury secretary. hillary vaughn with more, the question what the team will mean for us taxpayers. hillary? reporter: hi, connell t could mean billions of dollars added to the debt on day one which ultimately taxpayers pay the price down the line. president-elect joe biden sa

it's 60 times earnings, not 600 times earnings you have something special in marc benioff you have to recognize that i think the slack deal makes a lot of sense i think it's great defense against microsoft teams and against zoom while at the same time giving salesforce a new business line to get into. >> they didn't get to to play defense, they got that to play offense. benioff wants to knock microsoft on its tail. >> it's a two-way player they've already got the camel's nose under the tent with the kissedmer relati me customer relationship software and now they can get slack just as easily. the valuation is what it is. because of it, i only nibbled. you actually don't want this stock to come down to a more attractive valuation that would indicate that something's broken in it i nibbled here i want to own the company because it's a fabulous company. i don't really like the price so i'm just nibbling. i hope to add to it over the coming months. >> interesting move from you nonetheless. we'll come back to you in a minute this says to me what i've heard from shannon and from farmer jim i

cnn notes benioff is about more than the bottom line.speaks out about social causes like gender and racial equality as well as homelessness. the company helped secure ppe for front line workers back in april during the pandemic. >>> zoom is reportedly looking to branch out after having a very good 2020. it was a big year for the company due to the need for video conferencing during the pandemic. now a report says zoom is looking to get into email and calendar services. it may begin testing the email product in the coming months. analysts say it's a good idea with more workers likely to return to offices next year. >>> it is christmas eve and that means that santa is already busy delivering gifts in other parts of the world. let's see where he is. okay. um -- i don't know how to pronounce that country, he already went by australia. we do know that. this is according to norad's santa tracker. for the 65th year in a row they're keeping a close eye on his journey. if your kids have questions about where santa is, the progress that santa is m

valuation it's marc benioff.icture right. could he have gotten it for cheaper if he made it six months maybe. maybe he thought there was urgency and he couldn't wait because there could have been another buyer. we really don't know crm is up 35% year to date you can make the case that the shareholders disagree with this deal that doesn't mean they're going to be right in the end. >> two strong defenses for mark benioff. let's move on to talk tech and softbank, massive options trades in the u.s softbank's derivative trading drew some criticism from ceo's masa son remember, softbank was dubbed the nasdaq whale in september after it was revealed for the first time the company had been buying up bps of dollars worth of options and u.s. tech companies which may have helped fuel the late summer rally softbank reportedly still hopes to hold on to big tech, including positions in amazon and facebook josh, does this remove a buyer, which potentially was a big driver of the tech surge we've seen in recent months? >> i thin

exchange"ier kohl's adding 5% and shares of salesforce are sinking after agreeing to purchase slack mark benioff insite offing that slack changes everything still, the shares are down more than 8% right now, and to see more of jim's interview with mark benioff go to cnbc.com. let get to sue herera for our cnbc news update. >> hello, kelly. hi, everybody. here's what's happening at this hour today georgia's republican secretary of state is blaming president trump for in effect prompting threats against election workers >> even after this president trump try to quell the rhetoric being borne out of his continuing claims of winning the states where he obviously lost, he tweeted out expose the massive voter fraud in georgia this is exactly the kind of language that is at the base of a growing threat environment for election workers who are simply doing their jobs >> president-elect biden has no plans to replace fbi director christopher wray unless he is fired by president trump before inauguration day that is according to a senior biden official quoted by the "new york times. >>> and in texas this m

that's mark benioff. he has to have it. should be wary when he says thinks like that he wanted to buy twitter this is one those hot properties with a big name, with a big consumer -- you know, people know what it is. people in the workplaces know what it is but it just couldn't get there on its own i think microsoft teams is going to be a big competitor it is a matter of execution who they keep from slack i didn't hear what stewart was saying we will have to see if they can execute on it. the idea they didn't create it themselves is interesting to me. i think microsoft's team is going to put a lot on their shoulders, et cetera going to be tough the compete. it is a great brand name mark had to have it. slack had no other choice. it is a great owner for it of it is just a big threat. >> slack shares coming back after yours, now down only 1%. q 3 was another record quarter for revenue for salesforce growing 20% year over year raising the revenue guide for 2021 to the high end they are also initiating 2022 guidance of 25.5, al

salesforce ceo mark benioff kicked off the virtual event delivering opening remarks outside in the shadow of the company's massive tower. he told attendees that this wasn't the dreamforce he dreamed of because of the pandemic, but it will be one they always remember. >> we are together. we're together digitally. we're coming together spiritually. we're coming together in new ways, and that's what this dreamforce is all about. it's a dreamforce we'll never forget. it's definitely a unique dreamforce. >> he addressed the pandemic by thanking health care and essential workers. he also called business the greatest platform for change touting his company's philanthropy which has donated $120 million to public schools in san francisco and oakland. >>> american airlines is getting ready to put the boeing 737 max back into the air. the dallas-based carrier took reporters onboard a max flight to its tulsa, oklahoma, maintenance base to demonstrate how it was getting ready to put the jetliner back into service. the faa lifted its ban on the max last month. american will become the first u.s. airlin

all marc benioff how this works is ask stew benningfield how to start.making them work he has founder vision and credibility to merge cultures. stew butterfield is a founder who knows how to keep working on an idea until it's a win in the top tier of tech giants, he has to take on microsoft, adobe, a top field leader like butterfield gets him there for around 15% of his market cap. >> i hear you. so money is not an object here there's got to be another side to this. >> well, i mean, on the other hand, these are publicly traded companies. of course money is an object, and the multiple salesforce is paying for slack is insane, 24 times for revenue. that can't pencil out. there's no plan for selling slack into the salesforce base that justifies that. there's no integration of slack across the portfolio that adds $28 billion in value i get the argument about benioff, and how good he is at acquisitions here's the counter argument, apple has managed to go into a $2 trillion company without going out on 11 figure buying binges there was nothing better to buy is

marc benioff talking about their big acquisition of slack for more than $27 billion in cash and stockand here is what he told jim cramer last night about it >> slack changes everything. and makes salesforce a whole new type of company. a company that is truly architected to work from anywhere we have already introduced salesforce work from anywhere a couple months ago, but now with slack, it super charges our proposal it lets our customers rearchitect their workforce to be truly from anywhere >> take a look at shares of salesforce right now, and slack, salesforce has come off a bit on perhaps maybe the price of the deal slack of course still not a profitable enterprise. the big question is whether putting it together will help salgs force oig be able to turbo charge its business and we'll see. shack off marginally >>> joining us right now to talk more about this is stephanie link with hightower, and stephanie, good morning. great to see you >> good morning. >> so what did you think about salesforce and this deal with slack? >> well, i think the deal is very positive for the long term.

people were concerned about that i will tell you right now you never want to bet against mark be benioff to get into this, the stock sets up pretty well you have something to shoot against there. if you are a trader, i want to get in here and limb it my risk and start getting into it here if you want to bet on mark benioff which i would. >> mike, do you go elsewhere in the software space >> no, i am with bk here crm is continuing to perform people are casting a little bit of a shade on the slack acquisition, it was not this forward thinking i think potentially strong synergy there. i think it was a smart acquisition and a good opportunity for slack as well. so, i think you can stick with this one despite the fact of valuations >> dan >> yeah, who cares about valuations, right? with interest rates where they are. >> that's what jay powell said, that's what the federal reserve chairman said, dan >> i know i am just picking on you a little bit i have not seen you in a while, it feels good. for all you guys think bk into bitcoin and mike is in the options, i agree, i don't know how you can b

benioff, inc. so much. >> always good to be with you.idays. >> we will be watching to see how the marriage plays out and if it is a happy one. chang there in san francisco. let's get you some other breaking news. we are continuing to hear from economic committee testimony. with was a disruption having to have a temporary suspension with a vote take -- taking place. we are now getting to structural toorms as well as questions whether the banks qe program will be extended. we heard that they will not be adjusting rates. two-3%on is in the range. he talked about the patching is of the recovery we are seeing although he thinks the australian economy has turned a corner. we are getting numbers will be expected to reflect that later today. he is saying the first step is to build a bridge past the virus. now to build a road to recovery. also that it's not appropriate for the rba to target asset prices. we will bring you the latest as we get them. this is bloomberg. haidi: credit traders could be looking at the biggest pay increases compared wit

marc benioff started his company 20 years ago.is your advice to them going to be to keep innovating and stay nimble? >> great question. us and thefor combined entity is the savings for customers. it is leveraging technology to take advantage of our newfound end-to-end digital transformation. let me give you one concrete example. accounten, our executives ask for help from executives with a customer. they want me to send a memo or have a meeting. executive asks someone to get stewart to send a memo. it gets to me and i ask them about the customer. the account executive puts all of the information in it. that structure not only saves minutes here and there, it creates a lot of clarity. emily: my conversation with slack cofounder and ceo stewart butterfield. coming up, a new stay-at-home order has been issued for the san francisco bay area and more. what does it mean for schools and remote education? next.s this is bloomberg. ♪ online education coursara is said to be weighing an ipo. while no decision is final, it begs the question o

i just bought some just before the show at 231.70 i think it's interesting benioff deserves the benefit of the doubt. the guy comes out $17 billion in debt they are paying 1% interest on eight-year paper if they can buy something less than 100 times earnings, that is more financial engineering much i think he deserves the benefit of the doubt i like it. i bought some. he has done extraordinary things i think he can do a lot with slack and will get the benefit down the road. >> you bought crm on the back of this deal? >> yes, just tonight >> james >> i was an owner. i love companies that get bought i don't like this for salesforce slack puts them last in the mega communications slack does not have cash flow. oracle and zoom and microsoft, those are strong existing partnerships it will be a tough market to crack. $27 billion. survey teams say it is easier to use microsoft than companies that went to zoom. i don't like it for salesforce like it for slack though >> one biotech analyst says these are trading more like bitcoin and that biotech the one name he is calling out for ridiculous mov

both of thoes ase are receiving well benioff was disciplined and walked away. he knows what he's doing benio we'll find out how lowe's doing at investor day. the turn around has been difficult but going in the right direction. i believe in his vision. once he finished executing it, he'll rival against home depot a lot of good things to see and the same as starbucks. i don that chinese business is back to normal when we get the vaccine here, the lagging u.s. business will catch on fire, too it is a question of when and not if we got a couple of major earnings report on wednesday, too. we'll hear from campbell soup the last time they had a great quarter. they gave guidance misinterpreted i think you should buy some campbell going into the quarter. what else to buy adobe. you know that's a big cramer's favorite i am expecting terrific sets of numbers. it is another buy. there is also some division that people don't like. how about disney's sales here is a stock that's the opening play people think it has been sitting still while they're waiting for the vaccine, au

of course, emily chang's wonderful interview with david benioff of slack, who i know we are talking to today. jonathan: alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures are just a little bit negative by a quarter-point, down by 0.01%. up next, kathy jones of charles schwab. this is bloomberg. with the first word news, i'm ritika gupta. house speaker nancy pelosi and senate democratic leader chuck schumer are backing a stimulus plan as the foundation for a new round of negotiations. the plan calls for $900 billion in spending, less than what democrats want, but an increase from the number being floated by senate majority leader mitch mcconnell. the u.s. has had its deadliest day yet in the pandemic, according to johns hopkins university. the number of fatalities went over 2700 for the first time. meanwhile, hospitalizations going over 100 thousand. california posted 38% surge in the last week of november. the u.s. has restricted travel visas for millions of numbers of china's communist party. new rules will allow party embers and their families to obtain visas

aaron: certainly, you have to be in a position like marc benioff where he is able to make long-term betsmarket trends and pay the premiums that are necessary out there. c is uniquely able to do that. he has called these trends correctly if -- and almost every single stage if not every stage of the cloud. not everyone can do that. it might be one point of friction for these types of consolidation for the future. overall come with this is a bigger signal of is how big these markets are, even when we think about today, either in the u.s. or other key markets for enterprise software -- we're probably only about 10% of the way penetrated when you think about modern software like slack. you still have a significant portion of technology workers they need to be using these modern tools and the future. so, we are as far along -- as far along in this journey as many of us are in, we are still very early in the total potential in the market. emily: what do you make of the competitive threat of microsoft? you heard stewart say he is sick of talking about it, but it seems like the threat is real. ca

>> certainly, you have to be in a position like marc benioff, where he is able to make long-term betsmarket trends. and be able to pay the kinds of premiums necessary. mark is uniquely able to do that. he has called these trends correctly and almost every stage of the cloud. so the market is really really to go along with those bets. not every but he can do that. frictionone point of for these types of consolidations in the future. but overall this is a bigger signal of how these markets are, even when we think about today in the u.s. or other key markets for enterprise software. we are probably only 10% of the way penetrated anything about modern software like slack. you still have a significant portion of knowledge workers around the world that need to be using these modern tools in the future. as far along in this journey many of us are in, and some companies have progressed, we are still early in the potential of the market. emily: what you make of the competitive threat of microsoft? you heard stuart saying he is sick of talking about it. but it seems the threat israel. >> i thic

tom: benioff out with the purchase of slack. you get this like i don't. look at their financials. ebit.fit, no maybe they are cash positive sometime in the next year put -- and then the -- in the next year. but the idea that tech is dead, i don't see tech dead. jonathan: business continues. people are getting on with it into 2021, hoping for a better world. tom: it is going to be interesting to see. what we are going to frame is this bulla -- this bull and bear tug-of-war. what is great about david kostin is that he writes great research notes that look out 1, 2, and three years. blended in two to three years out is a constant 2% to 3% lift of the market. he is with goldman sachs. david, good morning. i love how you give us spx 4600. how do we get there? david: we get there a couple of ways. we get there around 3700 at the end of this year, 4300 at the end of 2021, and then 4600 at the end of 2022. so what are the building blocks behind it? basically, an economy that is getting better, earnings that are growing, and you have the rates staying superlow. those are the three building

marc benioff as well as rhode island governor and the ceos of at&t and bentley motors. salesforce will donate $5 million to various causes including $2 million to help san francisco's small businesses. so often that big conference brings so many people to the economy of san francisco. it's nice they make that donation this year. those businesses just not getting it. 5:14 right now. here we go, marcus. trending this morning the queen of christmas has a new sweet treat coming in just in time for the holidays. ♪ all i want for christmas is you ♪ >> oh, yes. you know who it is, mariah carey. she's getting into the cookie business, virtual dining concept. her flavors include chocolate chunk, lemon cooler and spice oatmeal raisin. they will launch on friday which is also national cookie day. >> every day around here is national cookie day. i've already been busy baking. >> oh, really? oh. >> oh. >> we drive by, laura, i bet you could throw it right in our window. >> can't wait. can you leave them on the porch. i'll come by and get some. >> if there's any left. >> okay. >>> it

police department flatbed truck to the children their families and hospital staff members at ucsf benioff children's hospital and family house last night officers from the sfpd ucsf police and the chp also brought holiday greetings in the motorcade. >>next today meeting in need this holiday season, how the salvation army in san francisco changed its normal routine to deliver thousands of meals to families on christmas plus christmas day bringing rounds of >>back now to our top story tonight a holiday helping of showers in the bay area, the wet weather making roadways pretty slick out there for drivers. >>and here's what it looks like right now on the bay bridge a couple of cars driving through, but you can really see that ground is wet. so hopefully people are driving the speed limit and slowing down when they need to let's check in with the kron 4 meteorologist mabrisa rodriguez who will let us know how much longer we're going to see the showers either cottonelle again we're not having a white christmas for us here in the bay area, but it is a wet one at that especially in the east bay w

. >> benioff >> nice!h, yeah i thought he was going to come on with me because we're such close friends. >> i got that locked up, david maybe i'll give you stuart butterfield tomorrow, maybe not. >> yeah, well we'll see when we get the deal after the close today. >> you know, carl, it's part of an annex that i've got you know it's time to go >> you've been crushing it this week, jim. dell, s&p, benioff see you at 6:00, "mad money" with jim cramer 6:00 p.m. eastern time welcome to "squawk on the street." i'm carl quintanilla with david faber and sara eisen the treasury secretary set to testify in moments we'll take you there as q&a begins ism manufacturing in the meantime, construction spending, let's get to rick santelli >> yes, our november read on ism, well, it comes in a smidge light, 57.5. we're expecting 58 let's go through it quickly. this is the sixth number in expansion mode, meaning above 50, and of course, it's the highest since last month which stands unrevised at 59.3 new orders, 65.1, that's d

this changes everything, no, not vaccines, what salesforce ceo marc benioff is saying about his

ktvu was helping to support ucsf benioff children's hospital children's hospital, and a today a spokespersonu know date us and said more than $190,000 was raised on this giving tuesday, nearly $80,000 more than they raced last year. the hospital said they are grateful, especially since so many people stepped up to help during a global health and economic crisis. if you would still like to help, go to our website ktvu.com/givingtuesday to learn more. >>> the white house weighs in on the president's ongoing election fight. i'm lauren blanchard in washington. plus who the president-elect is talking to, coming up. >>> coming up on ktvu news at 6:00 it would be details on the ongoing corruption scandal al at san francisco city hall, and now the city administrators is taking a leave of absence. >>> plus at lee least one coronavirus testing site in the bay area is seeing a surge in demand. now nearly one week after thanksgiving, a look at the covid numbers in alameda county, and the plan for vaccine distribution. budget, i lead the charge. and for this multitasking number cruncher, time is money. s