butterfield: how exciting. i yield back. ms. lofgren: the gentlewoman is recognized. >> thank you, madam chair. thank you both for your testimony. i want to recognize, madam clark has joined us who i think came from the smithsonian. mr. speaker, let me also -- mr. secretary, let me say, it's refreshing to have the secretary and inspector general on the same page. we don't hear that an awful lot. so thank you. let me ask the question, you talked about the cost of deferred main nance. i ask you, beyond cost, are any collections actually at risk? ms. fudge: because of deferred maintenance? mr. bunch: it is important for us, for me that we protect those collections. that's what is really at the heart of the smithsonian. and we have really worked hard to make sure that clecks are not at risk. we've made -- we've worked this order identify areas of concern and will continue to do that. when we know that there are corrections at risk we move quickly to try to protect them and to give them the proper housing that they need. i think that

butterfield. chief deputy whip in the house and a member of the house administration committee which oversees federal elections. thank you for being with us. >> thank you for having me. >> as a supporter of joe biden, how do you think this has impacted the presidential campaign. has it smeared him, caused him any trouble or has it enhanced him and made people feel trump is afriday aid of him. how do you see this impacting your choice for the democratic nomination? >> without question, the eyes of the nation, indeed the eyes of the world are focused on the impeachment inquiry that we launched this past week. i'm chief deputy whip in the house of representatives. a few days ago we have launched a full scale investigation. we call it an impeachment inquiry. six house committees are engaged in collecting the evidence and the facts. not just the admission by the president and the transcript of the phone call and all of the other things we know so far, but we're looking at witnesses and other evidence t

butterfield said, basically, this is very strong growth for our business.fo echo that sentiment. -- echoes that sentiment. they said that when you consider the amount of customers who are spending more than $100,000 each year with slack, so think of this as the largest businesses in the world, that number increased by 75 to 720. that is still a slower pace of growth and they are looking forward to a current product that they have coming out right now, which they think will continue to improve things, but they are going to focus and tell investors on the earnings call, which just started, about the customer stories, basically. tell them what companies are using slack. they have seen lots of growth in europe, including germany. they are also seeing growth in the u.s., they say. but essentially, they are sticking to their line of this is good enough, even as investors clearly are not happy right now. taylor: i want to bring in larry back into the conversation, because larry talked about the future of slack and part of that is bringing in some security tools. i

i don't know if that's akin to alexander butterfield disclosing that there was a recording, you know,nixon had records in the white house. i don't know what it is. but give me some historical context into this sort of thing. presidents keeping information from those who might want or need it for political purposes as opposed to national security purposes. is there an analog somewhere? >> well, presidents have their secrets. we all do. >> right. >> and so i think that i wouldn't overreact to the fact that they were trying to keep certain things out of the broader flow. but what we've learned with the whistle-blower and arguably with what "the post" is reporting is that if one or two folks know about it, there's enough perhaps for people to stand up within the system somehow and say "this is not right. this needs to stop." and if it's troubling enough for the white house to take extraordinary steps to conceal it, as you say, then it raises an enormous number of questions about what the content of those calls would be. is it alexander butterfield in 1973 who revealed in a meeting with fr

slack ceo stewart butterfield, first interview after being a publicly traded company.stors getting or not getting about what's happened here? >> well, investors will make decisions over the long run. this is a very strong quarter. but whether it's up or down yesterday up 8% and the regular market down after, it's not going to make a whole bunch of difference to the long-term holder or the business. >> this is a strong quarter, 145 million revenue versus 92 million the year prior, we'r happy with that. >> let me ask you about this, this is mkm partners, the analysts said as a private company, you can grow at all costs. a as public company you have to grow at reasonable costs. >> yes >> how do you define reasonable costs? >> we're in a cash position. it's close to 800 million on the balance sheet. full year we're looking at my 100 in free cash flow. >> that seems prudent and responsible. one of the things in the first place is because of the strong cash position so when you see opportunities, growth is the priority i don't mean growth at all costs. >> in terms of monetiz

and stewart butterfield is the corollary, opposite to adam neumann or travis kalanick story.now, i don't want to get too far ahead of myself, but i think that someone like stewart butterfield comported himself in a way that's visionary and business like, and there's proof you can be both. >> turning to netflix -- >> i was going to say he hasn't hit pot in the cereal box at least. >> okay. turning to netflix, that's going negative for the year, more competitors rush into that space. the cover story on netherlands that covers the bet on original content, women that are leading the charge tell us about it >> it is interesting obviously we have seen netflix go through pivots in the past, they have been technological pivots, move to streaming is the biggest one probably now netflix is finding itself in a very different place where content is king. you have all of the other streaming services coming out. a lot of them priced at lower price points than netflix is offering it finds itself having to compete on content and part of its strategy is it hired on diverse group of people to

following up on what mister butterfield talked about, you are familiar in 1994 the smithsonian institute task force produced a report called willful neglect and since that report, the workforce in the smithsonian has risen 2.7%, and that growth hasn't met the same numbers at the executive level. you started to answer mister butterfield's question about higher levels of curators, scientists, executives. can you talk about what is being done to increase diversity at the executive level? >> one of the things that is important to me is as i look at whatever changes i bring into the senior-level, i want to make sure diversity is at the heart of what i am trying to do. i would be unbelievably disappointed if i didn't by the end of this tenure have a staff that is more diverse. it is a challenge in many ways because people never leave the smithsonian but my goal is to make sure that the smithsonian is made better when it has those diverse races around the table. >> thank you, madam chair. >> the gentleman yields back. all members have now had an opportunity to ask questions and the record will

stewart butterfield joined "squawk box" earlier on today's drop take a listen. >> investors are goingmake decisions over the long run. this is a very strong quarter. whether it's up or down yesterday, up 8% and the rell mark, down after, it's not going to make a whole bunch of difference to the long-term holders or to thebusiness. this was a strong quarter. $145 million revenue versus $92 million the year priority and we're happy with that. >> they're happy with that henry blodgett, business insider joins us now along with former twitter coo alan ragani. he's in san francisco. guys, good morning to both of you. henry, if you look at the numbers, there is actually a lot to be happy about in slack's results. >> absolutely. this is just volatility around the market getting used to expectations versus reality. the company seems robustly healthy. the only possible concern is more competition with microsoft. but, you know, there are likely to be two of these going forward. and it's just hard to overstate how much companies are now being built around slack as a communications tool. it has ta

slack ceo and founder stewart butterfield will be on don't miss that. >> deidre bosa in san francisco on work which is a ticker for slack. for them to say, oh, if the customer uses windows 360, still uses slack, i mean, that would be a huge concern. >> i think it is a huge concern. it's something i've voiced many times about this company because of the fact that my concern is they're going up against the biggest of the big who can really get after them and they already have matter of fact, microsoft already has 13 million daily active so they're already going in front of the competition. i just look at this, mel, as this is going to be a brutal competition. and we've seen this go on with snap, with twitter, with all these various -- instagram and all of this stuff. it's amazing how much competition is out there i look at this i love that they have growth revenue growth is great. you look at the weekly users and microsoft is really beating them badly. i think when you look at that, you have to say it looks great for microsoft in my opinion. for slack, they're still losing money. when a

butterfield talked about in, and i know that you are familiar in 1994, the smithsonian institute task force produced a report called the willful negligent, and since that report, the latin-x workforce has risen 2.7% to 10%, but unfortunately the growth has not met the same numbers at the executive level. so you started to answer mr. butterfield's question about, you know, the higher levels and curators and scientists and executives. can you talk to me about what is done to increase the diversity at the executive level? >> one of the things that's important to me is as i look at whatever changes individuals i bring into the senior level, i want to make sure that the diversity is at the heart of what i am trying to do. i would be unbelievably disappointed if i didn't by the end of my tenure have a staff that is more diverse. it is a challenge in many ways, because people never leave the smithsonian, and my goal is to leave the smithsonian when it has diverse voice around the table. >> thank you so much. >> thank you, madam chair. >> gentleman yields back and all members have had a oppor

butterfield said, basically, this is very strong growth for our business. the cfo echoed that sentiment. they said that when you consider the amount of customers who are spending more than $100,000 each year with slack, think of this as the largest businesses in the world, that number increased by 75 to 720, but that's still a slower pace of growth. they're very much looking forward to a current product that they have coming out right now, which they think can continue to improve things. but they are going to focus and tell investors on the earnings call, which has just started, about the customer stories, basically. tell them what companies are using slack. they've seen lots of growth in europe, including germany. they are also seeing growth in the u.s., they say. but essentially they are sticking to their line of, this is good enough, even as investors clearly are not happy right now. taylor: well, i want to bring larry back to this conversation. larry talked about the future of slack, and part of that is bringing in some security tools. i wonder if that

it's more like the revelations of alex butterfield that there was a white house taping system that led we have now is that this whistleblower has talked really about a lock box system that may contain more and more evidence it sounds like there are a lot of issues about whether other white house officials will be allowed to speak because of executive privilege by this white house. that lock box system, is it clear to you that that can actually be looked into since it's highly classified? >> i don't know. but there seems to be a good number of witnesses to all kinds of events and all kinds of memoranda that were recorded. we'll see. but what we have now is a whole different dynamic about the future of this presidency that was not there a week ago. if there is any doubt about it, we see not only the president's words about abusing power in the whistle-blower's complaint, we also heard the president live today on tape talking about killing spies, talking about offing the people who brought this information to the this information to the attention of the whistle-blower. so what we now see

it's more like the revelations of alex butterfield that there was a white house taping system that lede have now is that this whistleblower has talked really about a lock box system that may contain more and more evidence of the president's construction. we already got today paragraph after paragraph of real corruption, real abuse of power by the president of the united states. john dean talked about a cancer growing on the presidency. this one seems to be the president is the cancer if we are to read that whistleblower's complaint adequately. >> if weir -- where does the investigation go? there are a bunch of folks who are saying this shouldn't be a long investigation that goes into the election year, that essentially there is a lot of stuff out there and people need to come forward and talk and testify and it can be wrapped up shortly. it sounds like there are a lot of issues about whether other white house officials will be allowed to speak because of executive privilege by this white house. that lock box system, is it clear to you that that can actually be looked into since it's hi

butterfield who exposed the existence of the secret recordings that were happening. >> you have the house speaker this is the cover-up of the cover-up. >> what democrats need to do is try not to overplay their hand. find actual evidence. and i think they've done a decent job of it. nancy pelosi in particular has been very careful in all of this. and then i think you see things like adam schiff where, you know, we had that parity of the phone call which is undermining democrats and i bet he got the call from nancy pelosi saying let's play this straight. don't make this a parity. >> evidence can come by way of testimony and giuliani has given contradictory answers today. just happened today when asked repeatedly if he would testify if subpoenaed by congress. take a listen. >> i wouldn't cooperate with adam schiff. i think adam schiff should be removed. if they remove adam schiff and put in a neutral person, a democrat who hasn't expressed an opinion yet, if i had a judge in a case and he had already announced i'm going to impeach, if he went ahead and did a whole false episode wouldn't i mo

echo each other a lot, and nixon got undone with the tapes when we found out through alexander butterfieldre was a taping system in the white house and of nixon. donald trump, we have a transcript now. he's saying in his own words, you can hear the quid pro quo, or at least read the transcript of it. that may be enough to move forward very quickly with impeachment. the fact that we have what trump had said to the ukraine leader. >> this isn't a what did the president know and when did he flow it? we know what the president knew. we know what he said. it's now how many people around the president were aware and what did they do, if anything, to cover it up? let's talk about the response from the white house. cnn is reporting that senior officials inside the white house are souring on the idea that was floated of bringing corey lewandowski in to run the white house's response. corey are lewandowski, a political adviser to the president, ran his campaign. contrast what we're seeing and response to a potential war room footing from other administrations, from clinton, from nixon, and what this

get some key players up there, and it may look a lot like what our memories of john dean and alex butterfields testifying back in watergate. >> and carl burpstein, cnn is reporting that the whistle-blower has tentatively agreed to testify before members of congress in closed session if acting dni, the director of national intelligence maguire agrees. and i think as well if his or her lawyers can be present. that seems like a pretty good deal. >> it's a very big deal as is the release that's coming tomorrow of the whistle-blower -- of the inspector general's report. because what we are seeing here is that donald trump has lost control of the narrative. up until now he's been able to a large extent especially in the mueller investigation to keep the press, to keep investigators, to keep his own party and even to keep the democrats fighting on the ground that he has laid. he has laid the battlefield, and in the mueller investigation, that's one of the reasons he wasn't able to prevail to the extent he did. now he's up against nancy pelosi and a set of facts that is absolutely overwhelming. it's

. >>> coming up tomorrow on stewart butterfield that's tomorrow around 8:00 a.m. eastern time. >>> marijuana legalization is sparking a nationwide debate we'll look at the potential benefits including one man who said it helped in his battle with cancer. >>> also, the potential downsides of this booming business when "power lunch" comes right back >>> and now the latest from tradingnation. tradingnation.cnbc.com and a word from our sponsor. >> volatility spikes are notoriously difficult to forecast but when they do occur, they tend to be relatively short lived. so rather than try to predict the next fight, instead consider a position in your portfolio for when volatility comes back down. i'm joanna payne and schwab is the better place for traders as a principal i can tell you this. when one student gets left behind, we all get left behind. this is a problem that affects each and every one of us. together with ibm, we created a whole new kind of school called p-tech. within six years, students can graduate with a high school diploma, a college degree, and a pathway

nixon's taping system until butterfield revealed it. the en it became -- when evidence trickled out, the system worked perfectly and journalism worked, urban committee worked and when it worked, it produced the evidence. and barry gold water went to the president. the jig is up. you're leaving, good-bye. at makes mr. trump much more irinjure \cxds iousyous, this is not surip tissueous, this is a new style. coarsening of american life. you can't unsay things that have been said. the president oversees the dictator of north korea, calling former vice president biden a low i. q. idiot. that kind of discourse is going to take much longer to recover from than did nixon's very view and punished misdeeds. > please join me in thanking george will. [applause] george: the book would make wonderful christmas cards. [laughter] [captions copyright national cable satellite corp. 2019] captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org >> we are going to stay at the te

changed dramatically, because of the urban hearing, when john dean got up and testified and alex butterfield and howard baker did a superb job, the whole thing was handled very, very well and it sank in with the public and the public realized the solemnnity, the gravity of what is going on of and the white house might try to block and not let anybody come up. i personally believe they will wave the executive privilege but i think this has to be done with an eye toward television. >> and not the first time we've heard someone raise the john dean testimony there. and the question, will there be a john dean here, someone from inside the administration with a moment of conscience saying this shall not stand, in effect. patrick healy, you say trump is acting more like a banana republic dictator than an american president. specifically to this exchange yesterday, i want to play it for our audience, the president describing the whistleblower as a spy. have a listen. >> i want to know, who's the person that gave the whistleblower, who's the person who gave the whistleblower the information? because

butterfield is talking about the near term. well, pinterest is another company.es that kind of got hammered on some quarters and are coming back i agree with him that we should not necessarily measure any company on a quarter but david, if they don't do well in the next quarter, then it does matter. i know a lot of ceos say they don't look at stock. nakesh looks at stock, by the way. i know that buffett says voting machine. andy grove said you as a ceo have to deliver on a quarter that's a sign in three months you should be able to make progress andy grove, who wrote a book, "only the paranoid survive," along with sh"shoe dog," the gra business book. >> i've read "shoedog. >> what do they borrow they're borrowing at german rates, right snmp >> you have to pay apple to take your money >> you know what that tells me they're going to buy all the stock. but the analysts think that apple is going to have a bad quarter. i'm starting to think more about 5g analysts keep waiting for the boycott of apple that hasn't happened i'm talking about china. >> looking at the perf

levels of the session after issuing weaker guidance in the first-ever earnings report last night ceo butterfieldppearing earlier today saying the company's forecast based on the potential of unforeseen circumstances. listen. >> when you're going to the rate that we are, you know, adjusted for the one-time stuff, 66% year on year, that's a hard thing to model. there's a lot -- one big deal can make a big difference for us, one postponement makes a big difference we try to be as upfront as possible and not a dynamic where people have expectation of whatever we say is 8% or 10% higher. >> meantime, another company in the ipo pipeline wework facing head winds sources telling cnbc the real estate company is slashing the ipo valuation less than $25 billion after facing widespread skepticism over the business model. the company last valued at $47 billion in the private market. so we're talking about almost half. >> this is clearly going to be one of the most challenging of loss-making ipos and the time it's coming out. interesting thing to frame this as bad for the public investor coming so late, is th

much was learned, including the butterfield revelation. only 3% of american people have read the report, but millions watched his testimony. where are the american people now? at the very least, we are educating and informing them. that organic pressure up from the american people is where i am just starting to see the cracks and fissures of republicans backing out their unlimited support for this president. whether or not the senate decides to make -- to do the right thing on this thing, that's important, but as important is that the american public understanding what they're dealing with with this president. john dean said there was a cancer on the presidency. what i'm trying to help the american people understand is this cancer, this presidents is the cancer on our democracy. >> congressman mike quigley, thank you for your time. >> thank you. >>> joining me liz goodwin, and peter baker, white house correspond for "new york times," and co-author of the book "impeachment, an american history." >>> i'm going to ask one question and then ho

tomorrow, slack ceo stewart butterfield is going to join us to dig through the companies first quarterlyort since going public stay tuned you're watching squawk box on cnbc i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. by the way, she's the it wasnext mozart.g day. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. - in the last year, of cybercrime every second. when a criminal has your personal information, they can do all sorts of things in your name. criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your social security number. - [announcer] that's why n