we're going to bring in a guest host for the entire hour no better person for that than chamath palihapitiya warriors very active in the realm of spac, special purpose acquisition companies. it's good to have you here, chamath. your breaking news on the air. i'll let you take it away. what's the news? >> andrew, well, thanks for letting me do this with you guys the news is that ipob is merging with open door open door will be going public it is the largest online consumer real estate business in the united states. it's doing something really incredible and what i wanted to do was take an opportunity behind t skeehe scenes and co-investors i think it's important, first, i want wanted the silicon valley they're democratizing that and finding the icon mick businesses and help them get public enable them to grow for long periods of time and help build a legacy business. if we as investors can be a part of that, we can basically share in those gains as well so the setup is that so what we did is we started to look across a whole bunch of industries everything that could be bought and sold online

i feel hopeful about the future now. ♪ chamath palihapitiya >>> good morning, and welcome to "squawkamer, carl has the morning off this morning let's give you a look at futures as we get ready to trade 30 minutes from now of course, you can see we are looking for a stun open. let's get to our roadmap, it does start with the september slump for stocks, at least so far. technology stocks heading lower once again, at least many of them, and as you saw features are extending losses this after worse than expected jobless claims >>> plus, there are concerns about overall economic growth. goldman sachs cutting in half its fourth quarter growth forecast given i

chamath palihapitiya >>> good morning, and welcome to "squawk on the street," i'm david faber along with jim cramer, carl has the morning off this morning let's give you a look at futures as we get ready to trade 30 minutes from now of course, you can see we are looking for a stun open. let's get to our roadmap, it does start with the september slump for stocks, at least so far. technology stocks heading lower once again, at least many of them, and as you saw features are extending losses this after worse than expected jobless claims >>> plus, there are concerns about overall economic growth. goldman sachs cutting in half its fourth quarter growth forecast given it doesn't see any new stimulus in sight. >>> and that tiktok trade, you can't really trade it, can you, because it's not a public company, but bytedance is formally seeking china's approval for a deal with oracle and walmart, those are two publicly-traded companies. yes, they are, jim let's talk markets let's start with that. you know, it's funny, i don't know what you make of the pull back today, to the extent we are going to h

special guests including treasury secretary steve mnuchin, carla harrison and chamath palihapitiya learnk" returns right after this that's what my dad does. good job, michael! ok, lindsey now tell the class what your mommy does... my mom has super powers. it's like she can see the future. what?! it's like she time travels in a rocket ship. that's cool! and then she comes back saying "try this" or "try that." she helps everyone. she helps them feel less worried. wow! mommy, so what is it that you do? i'm a financial advisor. she is! aig proudly supports all the professionals taking care of our financial futures. are a major security concern. cdw can assess your needs, then design and implement a secure mobility solution using the hp elitebook powered by intel 8th generation core processors. the hp elitebook features groundbreaking built-in security, like sure view to thwart visual hacking and cdw configures them to your company's specs. for mobile security, you need hp and it orchestration by cdw. [intel jingle] >>> welcome back to "squawk box" this morning take a look at futures right no

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we had chamath palihapitiya who is trying to revolutionize, quote, unquote the spac process.uation like yours contemplating whether to pursue the ipo -- traditional ipo route or go this route, just back through your thinking. specifically i had asked chamath about the fees involved. typically you're often giving away 20% of the company to the sponsor. speak to the economics of this approach >> our sponsor's going to have around 4% of the business so i think we've got very good terms compared to others in the market i think the way that other ceos, i have other friends in the clean energy who are considering this, have tremendously great companies, they have raised money from some of the biggest investors in the world, and this is a lower risk, faster path and for companies that are well-positioned, i don't think it's the right solution for every company, but if you're in an industry growing extremely quickly or about to grow extremely quickly and you have a competitive advantage with your technology or with the leadership you've already developed in that industry, it's a grea