for anythinges up that might be happening on the cpc side that is decreasing faster than people expectws the shift. it shows it is not a perfect the transfer, it grows the pie. people are spending more time on computing devices. it is increasing the volume. emily: it is a two-way race between google and facebook? adam: we are seeing growth across all of our channels. facebook are a massive share. we are seeing a really strong environment right now for performance marketing. we are seeing all channels grow. turning now to amazon out with earnings this week. shelley joined us with former amazon executive. take a listen. certainlyrs were ratcheting up the stock past $800. on the comments, we are going to keep seeing profits every quarter and that is not is what amazon is about. worked atsomebody was amazon and with the jeff bezos, bring us to how he thinks about this. fast or youto grow are dying slow especially in e-commerce today. if you look at quarterly earnings, emily, they added $7 billion year on year. if you put that in a bit of a perspective. emily: and blood -- blackstone lost t

it really makes up for anything that might be happening on the cpc side, which is decreasing faster than people expect. that shows the shift to mobile and the fact that it is not a perfect transfer. it grows the pie. people are spending more time on computing devices in their pocket. ok, let's search this. it is increasing that volunteered emily: is it still a two horse race between google and facebook? adam: we are seeing growth -- our customers want to see their audiences wherever they go online. are a and facebook massive share of that. we are in a strong environment for performance marketing because we are seeing all channels grow. emily: let's talk about what is happening in the other -- this always gets a lot of attention. mark, there has been a lot of turnover there. we have seen ahead of fiber leave, the head of project win, their drone delivery service leave. l, it was emphasized to us they continue to believe all these things are great opportunities. just that they want some more technical and financial transparency before they decide to re-accelerate. >> they have been pretty

microsoft's çpc-business was down, the other stuff is making up for it.they have two hats, they have the cloud business, which is private and public, and that's growing. the aws piece, azure, excuse me, grew 140%. that's what they want to see. we were all just talking about it. you own the stock, this is one of the reasons you think it's going to be a $100 billion market. these guys are well positioned behind amazon. >> it's hard to argue with the growth you're getting out of azure and office 365. these guys can now say we've transitioned the company from the dwindling pc business. it gives analysts the ability to forecast their business. these guys say they have an annual growth rate of 12 to 13% over the next four or five years, which is why they get a little bit of a premium. the success of management in turning this boat gives satya nadella and his team a premium that management trades at transparency. thisç stock trades at a premiu. >> stock sounds pretty good. buy at the all-time high. >> trading-wise, today, die buy it up 5%, probably not, i would

their cpc decline is being offset by programmatic stuff they do on the ad sales. these guys to me are the best combination of growth and valuation. >> i think i'll play would you rather. would you rather, guy adammi or alphabet? >> to me, again, the metrics in amazon are margins. to me, the metrics in google are paid clicks. paid clicks were up 33%. the street is looking for much lower than that. >> i'll play with b.k. now. >> these guys, who cares? you buy the stock, you know where your risk is. 795, 800, buy the alphabet. >> tim, i'll play with you now. >> thank you. i would like to believe i made my point clear, i didn't even need to be in this game. the other thing about google that i will caution, the cops get tough in the next quarter. this is a company that's been on a bit of a tear for them. i don't think you have to go bananas on the stack. this is a much more defensive play with all these guys who think that the consumer is falling apart and the market is about to crash, this is the one to be in. >> who said that? >> consumers, i'm hearing s&p is going d

and from the cpc even mahler is again thank you so much for being here, stephen.nd for your support and from ntc we have executive director steve preminger as well. thank you, steve. steven has a striped cap. [inaudible] so you've got the biggest giants fan up here as what could i'd also like to recognize several people who were unable to be here today. who provided critical advocacy legislative and funding support for this project. senators feinstein and boxer, sen. state sen. mark leno. former state sen. carol mcginn and assembly member john amato at the time. this project was $90 million project funded by federal highway bridge program funds. not easy to get. and state prop b b1 funds as well as local match provided by tida and it was through their efforts were able to help secure those funds. gov. schwarzenegger brown, and sec. bonner reinhardt, kelly and caltrans dir. kempton [inaudible] generations of leadership at the state level have all been great partners in support to our project as well. of course, radical california division administrative [inaudible]

and because they are not required by the cpc at this time, with the anticipated level of service. >> i understand that, but i am just trying to get a better grasp of the sort of birds eye view down the road. and what are our general thoughts around funding. >> >> and the great separation to occur, and the indrement to the cost, and it is not just a san francisco issue and this is a regional investment and a state wide facility as well, and we need to bring in the partners and the local, traditional sources in addition non-traditional sources or the other sources that have brought to bear on the project and this could be another, facility and district and it could also be potential tax increment and those approaches of what we call value capture, because certainly, of whatever, investments that we make will confer the value to the area and i believe that the planning department is also looking at that opportunity there is also, tolz and revenue and the other sources that we can add to the funding mix and i know that you mentioned that just being out in the alignment is first and forem

and because they are not required by the cpc at this time, with the anticipated level of service. >> i understand that, but i am just trying to get a better grasp of the sort of birds eye view down the road. and what are our general thoughts around funding. >> >> and the great separation to occur, and the indrement to the cost, and it is not just a san francisco issue and this is a regional investment and a state wide facility as well, and we need to bring in the partners and the local, traditional sources in addition non-traditional sources or the other sources that have brought to bear on the project and this could be another, facility and district and it could also be potential tax increment and those approaches of what we call value capture, because certainly, of whatever, investments that we make will confer the value to the area and i believe that the planning department is also looking at that opportunity there is also, tolz and revenue and the other sources that we can add to the funding mix and i know that you mentioned that just being out in the alignment is first and forem

and because they are not required by the cpc at this time, with the anticipated level of service. >> i understand that, but i am just trying to get a better grasp of the sort of birds eye view down the road. and what are our general thoughts around funding. >> >> and the great separation to occur, and the indrement to the cost, and it is not just a san francisco issue and this is a regional investment and a state wide facility as well, and we need to bring in the partners and the local, traditional sources in addition non-traditional sources or the other sources that have brought to bear on the project and this could be another, facility and district and it could also be potential tax increment and those approaches of what we call value capture, because certainly, of whatever, investments that we make will confer the value to the area and i believe that the planning department is also looking at that opportunity there is also, tolz and revenue and the other sources that we can add to the funding mix and i know that you mentioned that just being out in the alignment is first and forem

however, this dramatic increase of cpc people and equipment has not been -- leading to palpable mistrust between southern border residents and cpb. the largest law enforcement agency in our nation. based on our data rules, created without significant public debate, dhs has interpreted 287-8-3 of the immigration nationality act to allow border patrol to operate interior checkpoints up to 100 miles from land and maritime borders. virtually everyone that i know has been subjected to questioning at checkpoints. in some communities, residents must pass through border patrol checkpoints to reach work, school, medical appointment, places of worship. this has an enormous economic and civil rights impact on our community. even i feel compelled to carry proof of citizenship at all times in order to prevent unnecessary delays or worse. perhaps what is most hurtful is that my toddler son must also have a u.s. passport in order to clear the checkpoint. whenever we drive east to visit his grandparents or if we decide to go north to disneyland. my family must show our passports to prove u.s. citizenshi

and because they are not required by the cpc at this time, with the anticipated level of service. >> i understand that, but i am just trying to get a better grasp of the sort of birds eye view down the road. and what are our general thoughts around funding. >> >> and the great separation to occur, and the indrement to the cost, and it is not just a san francisco issue and this is a regional investment and a state wide facility as well, and we need to bring in the partners and the local, traditional sources in addition non-traditional sources or the other sources that have brought to bear on the project and this could be another, facility and district and it could also be potential tax increment and those approaches of what we call value capture, because certainly, of whatever, investments that we make will confer the value to the area and i believe that the planning department is also looking at that opportunity there is also, tolz and revenue and the other sources that we can add to the funding mix and i know that you mentioned that just being out in the alignment is first and forem

and from the cpc even mahler is again thank you so much for being here, stephen.support and from ntc we have executive director steve preminger as well. thank you, steve. steven has a striped cap. [inaudible] so you've got the biggest giants fan up here as what could i'd also like to recognize several people who were unable to be here today. who provided critical advocacy legislative and funding support for this project. senators feinstein and boxer, sen. state sen. mark leno. former state sen. carol mcginn and assembly member john amato at the time. this project was $90 million project funded by federal highway bridge program funds. not easy to get. and state prop b b1 funds as well as local match provided by tida and it was through their efforts were able to help secure those funds. gov. schwarzenegger brown, and sec. bonner reinhardt, kelly and caltrans dir. kempton [inaudible] generations of leadership at the state level have all been great partners in support to our project as well. of course, radical california division administrative [inaudible] who cannot

and from the cpc even mahler is again thank you so much for being here, stephen. and for your support and from ntc we have executive director steve preminger as well. thank you, steve. steven has a striped cap. [inaudible] so you've got the biggest giants fan up here as what could i'd also like to recognize several people who were unable to be here today. who provided critical advocacy legislative and funding support for this project. senators feinstein and boxer, sen. state sen. mark leno. former state sen. carol mcginn and assembly member john amato at the time. this project was $90 million project funded by federal highway bridge program funds. not easy to get. and state prop b b1 funds as well as local match provided by tida and it was through their efforts were able to help secure those funds. gov. schwarzenegger brown, and sec. bonner reinhardt, kelly and caltrans dir. kempton [inaudible] generations of leadership at the state level have all been great partners in support to our project as well. of course, radical california division administrative [inaudibl

and from the cpc even mahler is again thank you so much for being here, stephen. and for your support and from ntc we have executive director steve preminger as well. thank you, steve. steven has a striped cap. [inaudible] so you've got the biggest giants fan up here as what could i'd also like to recognize several people who were unable to be here today. who provided critical advocacy legislative and funding support for this project. senators feinstein and boxer, sen. state sen. mark leno. former state sen. carol mcginn and assembly member john amato at the time. this project was $90 million project funded by federal highway bridge program funds. not easy to get. and state prop b b1 funds as well as local match provided by tida and it was through their efforts were able to help secure those funds. gov. schwarzenegger brown, and sec. bonner reinhardt, kelly and caltrans dir. kempton [inaudible] generations of leadership at the state level have all been great partners in support to our project as well. of course, radical california division administrative [inaudibl

your international development and it is a huge privilege for the hard working team and our excellent cpcstchell. in recent weeks i have seen incredible life-saving work around the world. 60 million people in sanitation helping 11 million children getting an education. or 76 million children against preventable diseases. we are transforming lives on an amazing scale. only last year we helped 5 million people affected by crisis to get access to blankets, tents, and clean water. this is something that everyone can be proud of. [ applause ]. lives are at stake. lives were lost as a result of this slow response. we want to improve the way the world does develop, the global age system so it is ready for the challenges of the 21st century. reform is about being relative for today and for the future. and this is why i will follow the money, the people, and the outcome. follow the money. because margaret thatcher famously said, there's no such thing as public money. it is taxpayers's money. when we open up the budget to let people say where the money is going, we can be sure that he is the most vu