daniel ek says the company will not drop joe rogan's podcast. more on that later this hour. u.s. stocks falling amid renewed declines in big tech. ed? ed: it has been an up-and-down kind of day. .08% of 1%, tech heavy index. the technology, meta, the facebook parent having another down day, 5%. year to date declined to 30% and that breaking news you just discussed after the bell that - - he's stepped down from the company's board which he has been on since 2005. there was a bright spot encrypted currencies. quickly look at bitcoin after the last five days. five straight days of gains on the world's most valuable token by market value. it has sustained momentum. back about $40,000 in that stretch of five days of gains. crypto trades over the weekend for those of you that had a nice time off, not looking at markets this weekend. can't speak for myself, then that is the best run of gains since september. but the big company story, peloton, rising by the most ever. up 30%. we had that throughout the day. and then there are the other players. amazon is taking a look and talking to adv

one thing i'll say is that daniel ek is onto something here.o host what we said we would and there might be some modifications. joe rogan volunteers to go back and clean up some of those past episodes. i would argue that daniel ek has others in the platform he needs to take a look at who dropped that same word many times. maybe that's the answer to it. i'll tell you the people this helps. it helps the network with dave chappelle because now they don't stand alone. helps will be goldberg. it's done the equivalent see ted taking some off from the past. they punished her with a suspension for two weeks. but if we start to cancel and shutdown voices rather than to allow more and better work to overtake the work that was wrong, then where are we going? were going to have a come lately conquests of society we can't honk your horn if you're a trucker at a worthless society we can express yourself however right or wrong. my father fought for the ability to be able to do that, right? but when you are wrong look, say i apologize. look, he apologized. he

are very few of those platforms on the internet and that's what we are investing on. >> thank you daniel ekder and ceo and, obviously, a man who didn't necessarily have to go on, the joe rogan status, some very fine answers always good to see you, daniel thank you. >> thank you for having me on. >>> jim, it's interesting. you asked him about whether or not there were pandemic stock because they have unwound almost all of their pandemic gains. >> they have and i think that we are now in a market where you are guilty until proven guilty. not any possibility of innocence when it comes to something that did well during this period. obviously, dealing with paypal with our club members where i feel awful i have been working very hard about trying to value the stock. i think all of these situations involving trying to value a stock that is either a falling knife or has a credible business and how much you repeal all of the gains. zoom, peloton. that's what we're struggling with i feel awful about it. obviously, don't want to struggle with a situation like that want to help club members. but i have

why spotify's ceo daniel ek is caught between a rogan and a hard place. >>> and another peloton scoop that has that stock surging in the pre-market the wild ride is looking far from over. the numbers and some of the names when "wex" returns after this ♪ ♪ what do you think healthier looks like? ♪ ♪ with a little help from cvs... ...you can support your nutrition, sleep, immune system, energy...even skin. and before you know it, healthier can look a lot like...you. ♪ ♪ cvs. healthier happens together. >>> welcome back new developments this morning for spotify and ceo and joe rogan. bertha coombs is here with that. >> reporter: good morning, brian. the spotify ceo daniel ek confirming it removed dozens of episodes of the podcast and response to a video documenting many times joe rogan used a slur on his show. addressing the use of the "n" word and removing of the episodes i want to make clear they do not represent the values of the company. ek adding he does not believe silencing rogan is the answer, but we should have clear lines rest around content, but cancelling voices is a slippery

to the workers, daniel ek is the problem, not joe rogan.rbing language ahead. here it is. >> i never use it to be racist because i'm not racist. but whenever you're in a situation where you have to say i'm not racist, you [ bleep ] up. and i clearly have [ bleep ] up. >> joe rogan's apology tour continues, this time for repeatedly using n-word on his pop popular podcast and staffers at spotify are furious. >> i can't go back in time and change what i said, i wish i could, obviously it's not possible. i hope this can be a teachable moment for anybody that doesn't realize how offensive that word can be coming out of a white person's mouth, in context or out of context. >> roots of the controversy go way back. >> 270 health experts are calling on spotify to take action. >> antivaccine falsehoods on his show caused neil young to speak out. rogen started the pandemic by touting the value of vaccine s. >> there's so many wackos out there, think that vaccines are a scam or they're dangerous. >> but later changed his tune. >> so would you now with

over content is ahead and how that could potentially hurt advertising and subscriber revenue ceo daniel ekspotify employees that he supports rogan's decision to remove past episodes from the platform but says he is not going to take further action against rogan, quote, i do not believe silencing joe is the answer we should have clear lines around content and take action when they are crossed, but canceling voices is a slippery slope. looking at the issue more broadly, it's critical thinking and open debate powers real and necessary progress that commitment to rogan's show prompting some analysts to predict more backlash. neil young's protests has brought to the forefront the risk of spotify employing a cavalier personality such as joe rogan and we doubt this will prove his last feather ruffling episode. the next 12 to 24 months we would not be surprised if the jre podcast and spotify decide to part ways but benchmark analyst says it would take a major artist like taylor swift to leave spotify to have a discernible impact. current artist defections should have minimal impact and they don't

and in an internal memo to staff obtained by abc news, ceo daniel ek apologizing, saying he is deeply adding i do not believe that silencing joe is the answer. we should have clear lines around content and take action when they're crossed, but cancelling voices is a slippery slope. >> the spotify ceo's statement clearly has underlying language that is appeasing a certain audience while patronizing another. there is no rationalization around the repeated use of a very offensive word. so his statement is a clear acceptance of joe rogan's behavior. >> rogan's popularity cannot be understated. his flippant attitude and irreverent curiosity has earned a cult-like following. in may 2020, he landed an exclusive deal with spotify worth more than $100 million, one of the first of its kind for the medium, catapulting his show to the number one podcast in the world. >> the ways of dealing with controversies like this in the past and recently have been very awkward. clearly, spotify has to address this in some way. it's problematic. and it's going to catch up. at a certain point users are just go

we will have an interview with daniel ek this morning later on. that stock getting hit as well >> good story here in the earnings what do you pay for a growth stock that is not growing anymore? that is what spotify told us with no material net ads in 2022 versus 2021. if you stay static and not growing, what valuation does it des deserve? we see 8% decline pre-market >> the issue with meta, it is not a proven business model yet. it is oh, we're making it up on the back end people pay more revenue and p proprietary content. >> what does that say about the streamers in the world everybody is trying to build subscription businesses. we talked about is there a ceiling on these businesses in terms of the number of people that will buy and the price they pay. >> there's a ceiling somewhere, presumably it isprobably going to be like every industry the top two players take most of the economics and the rest of them pay to participate. it is really tough to see. >> spotify is one of the top two. >> music is different. audio is different relative to video a

daniel ek said in a blog post-the company is trying to balance user safety with creator expression addingntent sensor. nils lofgren, guitarist for bruce springsteen, pulled his music, too. >> we're all for free speech. we just don't want to be associated with misinformation and lies killing americans. >> reporter: vladimir duthiers, nbc news, new york. >> o'donnell: the soaring cost of childcare, a recent analysis finds the cost of childcare now rivals the cost of a college education in many states. cbs' mark strassmann has more. >> reporter: for cassandra little, gavin's infection softens the squeeze of a broken system: the cost of daycare in america. at one point, taking almost half this architect's after-tax income. >> i felt like i should scream, cry and vomit all at the same time. you have this repetitive question, is it worth it? >> reporter: except for washington, d.c., massachusetts has america's most expensive childcare. for a four-year-old that cost averages $15,000 a year, an infant almost $21,000. by government standards, only 5% of massachusetts families can afford infant car

daniel ek said in a blog post-the company is trying to balance user safety with creator expression addingspotify is not a content sensor. nils lofgren, guitarist for bruce springsteen, pulled his music, too. >> we're all for free speech. we just don't want to be associated with misinformation and lies killing americans. >> reporter: vladimir duthiers, nbc news, new york. men put their skin through a lot. day-in, day-out that's why dove men body wash has skin-strengthening nutrients and moisturizers that help rebuild your skin. dove men+care. smoother, healthier skin with every shower. nyquil severe gives you powerful relief for your worst cold and flu symptoms, dove men+care. on sunday night and every night. nyquil severe. the nighttime, sniffling, sneezing, coughing, aching, stuffy head, best sleep with a cold, medicine. >>> we want to turn now to one of the most pressing issues facing families nationwide, the soaring costs of child care. a recent analysis finds the cost of childcare now rivals the cost of a college education in many states. cbs' mark strassmann has more. >> reporter: fo

that is something big enough that daniel ek mentioned on the call >> the important part is we don't change our policies based on one creator nor on the media s cy cycle. joe has a massive audience he is the number one podcast in 90 markets he has to abide by the policies. >> you will hear from ek when he speaks with us at 10:00 a.m. eastern. you will hear a lot about this today. remember, spotify's fourth quarter ended before the controversy bubbled up try to separate the two. it is in the social etf. it may have artificial selling because of facebook today. >>> next up is qualcomm. it is down 3% although it beat estimate chip maker rising 35%. that growth was slow compared to the same quarter last year qualcomm ceo saying they are seeing higher demand than it can supply in the pre-market, we are seeing red on the screen. >>> and t-mobile going up. the guidance was stronger. it expects to see 5.5 million customer ads this year which would match 2021's total. >>> still ahead on wex, more pressure for tesla as customers complain about phantom braking with the vehicles. >>> if you haven't alr

daniel ek responding to the latest controversy around the joe rogan experience in a memo to staff.ome of joe rogan's comments incredibly hurtful, i want to make clear that they do not represent the values of the company, ek adding he does not believe silencing rogan is the answer. >> he is commission $100 million, the same as rogan's contract, to license and develop and market content from creators from historically marginalized groups. >> trevor: you have to feel bad for spotify. they just want to be a company that screws over musicians now they have to deal with racism? they can't catch a break. but yeah, spotify will spend joe rogan's exact salary on amplifying the voices of marginalized groups. that's what they say they will do which is i guess is supposed to make them look good but it's kind of an admission rogan's podcast is bad for those groups. otherwise you wouldn't need to balance him out. does that make sense? there's a reason spotify hasn't been forced to give $100 million to marginalized group because of this american life. whooping out your checkbook is the classic si

. >> brooke: daniel ek was asked about censuring joe rogan's comments and he responded saying spoefl does not change policy based on one creator or media cycle and says spotify policies have been carefully written with ininternal and external experts in the space and he believes the policies are right for the platform. neil young was the first celebrity to pull his music from spoefl over rogan's comments. now musicians david crosby and steven steele the latests to join him. celebrities are voicing their support for joe rogan. kevin james writing he's known rogan to be nothing but objective and seeking truth as gleann greenwald says america are tuning out the media's attempt to silence. >> everyday a new person needs to be silenced and the american public finds that repellant and the rules they have created and wanted to impose on others are ensnaring themselves and people see if you are a work sxer say the wrong thing, you get destroyed, but if you are whoopi goldberg and say something stunning, they rush to her aid and defend her. >> carley: presidential candidate tulsi gabbard weig

you've achieved all that, you take on what's next. >>> spotify is down in the premarkets ceo dan y-- daniel eke's sorr about how the joe rogan podcast is affecting them. this podcast showing rogan using racial slurs making the rounds ek will not pull him from the spotify. his argument is that cancelling, as ek put it, a slippery slope. >> yeah. he had made the same point last week talking about earningsin stock by the way, not responding particularly well for those earnings, as well. you can take a listen to what ek had to say himself when he joined us after earnings last week >>well, i think the big balancing act that we're trying to do as a company that is just critical is balancing creative expression with, of course, the one about the safety of our users. that's why we published this weekend our policies and really, for the first time did that and that's probably in our half something we should have done earlier. that's on me we have them out there now so that everyone can look at the policies and understand what those in our platform. >> you know a lot of podcasting, of course, is done in

podcasts, which is obviously creating some other issues for them as you heard from the clip with daniel ek talking about joe rogan it's not a netflix it's a very different business model. it's a platform and structurally it needs to find a way to make a margin now, the big disappointment last night was really the margin. there was some daisappointment n subscribers. it's the same margin in q1 the last three years there's no expansion and people are worried this year the margin may not go up at all in the full year >> nick, if the company had to choose, would they want to be in the music streaming business or podcast business seems like in the podcast business, there aren't a million taylor swifts and aerosmiths and bruce springsteens and you get beholden to a joe rogan, just separate from all of the controversy. >> it's a great question the reason why they went into podcasts because they can control the margin if they own the content but it's hard to own the content. they had to license joe rogan and the second problem you have when you try and own the content in podcasts is that you might

spotify ceo daniel ek is tomorrow on "squawk on the street" at 10:00 eastern. >>> ai tech imbeds in theling. this is a change of the future of traveler demands. shares have doubled since the 2020 lows. all the details next >>> welcome back the pandemic not just changing what we want from our employers but impacting the expectations coming to travel seema mody has that story and the hotel chain taking steps to accommodate the changing tastes. seema? >> that's right. marriott stephanie linnard said there's a blending of work and play and the reason they're looking to redesign the layout of the rooms. >> think of the murphy bed of the future so the bed goes up into the ceiling and a desk and a wok space comes down and then another button to bring in a couch and a television and a living space. >> the design still in testing is seen as another way for marriott to compete with airbnb. it did launch a rival home rental service but the success also depends on the broader travel recovery which is impacted by omicron. >> seeing with the omicron variant is bumps in the recovery but not stopping i

spotify ceo daniel ek td employees on sunday that silencing rogan is not the answer. he said, quote, canceling voices is a slippery slope. still to come on the newshour, states lift school mask mandates, intensifying an already heated debate. tamara keith and amy walter consider the latest political news. we examine the history of one of the nation's first majority black farming communities and much more. >> this is the pbs newshour from wbt a studios in washington and in the west from the walter cronkite school of journalism at arizona state university. judy: we return to diplomatic efforts underway to defuse the russian generated crisis over ukraine. nick schifrin has the story. >> after french president macron's meeting with russian president putin today, what are the prospects for easing tensions? and how are these talks viewed by the rest of europe? for that we turn to heather conley, president of german marshall fund of the united states, which focuses on improving transatlantic relations. she was a state department official on european affairs during the george

daniel ek told employees on sunday that silencing rogan is not the answer. he said, "canceling voices is a slippery slope." on wall street, stocks spent the day searching for direction. the dow jones industrial average ended with a gain of one point to close at 35,091. the nasdaq fell 82 points. the s&p 500 slipped 16. and, at the winter olympics, a tough day for an american star. defending gold medallist mikaela shiffrin skied off course early in the women's giant slalom and was disqualified. the u.s. did win the silver medal in team figure skating, with russia taking gold. still to come on the "newshour," states lift school mask mandates, intensifying an already heated debate; tamara keith and amy walter consider the latest political news; we examine the history of one of the nation's first majority black farming communities; and much more. >> woodruff: we return to diplomatic efforts underway to defuse the russian generated crisis over ukraine. nick schifrin has the story. after french president macron's meeting with russian president putin today? what ar

sunday night, ceo daniel ek he hears their concerns but doesn't believe silencing rogan is the answeruld clear lines around content, and take action when they are crossed but cancelling voices is a slippery slope. ek also announcing spotify will commit 100 million to make and buy and market content from historically marginalized groups. will a payoff be enough to satisfy performers, employees, and subscribers? >> brian stelter is here with me now. brian, thank you for joining us. listen, i have to say what struck me here, and i just want people -- i agree with joe rogan. and i mean, the joe rogan in the apology. right? this is -- because -- and i want everybody, joe rogan's supporters and his critics to listen to what he said. he said, whatever you're -- whenever you're in a situation where you have to say i'm not racist, you effed up. now, he said even the clips for him was hard for him to hear and the word is offensive coming out of the mouths of white people. i agree with that part of it. i don't think joe rogan should be cancelled. but i think people do have the right to criticize

meantime spotify ceo daniel ek announced this past weekend that the streaming service will add a contentadvisory to any podcast episode that includes discussion about covid-19. in a blog exit quote. this new effort to combat misinformation will roll out to countries around the world in the coming days. to our knowledge. this content advisory is the first of its kind by a major podcast platform. despite some high profile defectors, including new young and joni mitchell, who claimed the joe rogan experience podcast. it's disseminating dangerous and erroneous information about the virus. the streaming platform is holding firm refusing to remove or even sensor. rogan's podcast . one reason in 2020 spotify reportedly paid more than $100 million for the exclusive rights to the podcast plus as observers appointed out. spotify isn't a music company. it's a tech company trying to maximize profits despite pay pressure to drop some of its content. take a listen. we've got to support diversity of thought, freedom of speech and whole senator views and right now, especially when you think about, you k

growing controversy surroundin the company ceo daniel ek apologizing and condemning rogan for using racial but in a letter to spotify employees, ek wrote silencing rogan is not the answer joe rogan publicly apologized over the weekend after a video surfaced showing him repeatedly using the "n" word in several podcasts over the years. here is a clip from that video >> saying the word -- already said -- just like -- she's calling you -- like this boy that he's -- and starts calling him -- >> rogan called that the most regretful and shameful thing he has ever had to talk about publicly spotify said it supported rogan removing about 70 episodes of the joe rogan experience over the weekend. in the letter shared with nbc news the company ceo said rogan's previous comments do not represent the values of this company. rogan signed a multi-year contract with spotify in 2020 reported to be worth more than a hundred million dollars but now the social media site rumble just made rogan a new offer. another hundred million dollars to bring his podcast to its platform. >>> planning to travel abroad? you

. >>> spotify back again doing more damage control again, after ceo daniel ek sent a letter to employeesn controversy, but also said, he's not going anywhere. it comes after rogan apologized again over the weekend. this time for saying the n-word across at least 70 podcast episodes, which spotify removed in recent days. the controversy even roping in one of hollywood's biggest stars, duane "the rock" johnson, who is reversing his support for rogan over those slurs. i want to bring in kara swish tore discuss. she needs no introduction, but she is "new york times" opinion writer and host of the sway and pivot podcasts. cara, first it was covid misinformation, now it's racial slurs. this letter from ec. is this their way of acknowledging the problem and hoping we can just move on? >> i don't know. i found the letter problematic. the word "silencing" and ""cancl culture" were all throughout it. it's a simple matter of, they didn't really listen to what he was doing and they have some responsibility for it. they don't think they have very much and now they're caught in the mess. it's sort of

spotify�*s daniel ek has made his position on content clear, writing...gue you need to listen tojoe rogan to understand what's happening here. jemima kelly, writing in the financial times this week, said ifjoe rogan�*s critics listen to his podcast, they would know that the presenter is a genuinely open—minded host who seeks out all sorts of opinions, rather than blindly following those of a particular tribe. for his part, joe rogan says he explores ideas that are controversial but can later become mainstream, like the wuhan lab leak theory on covid—19. and batya ungar—sargon from newsweek argues he's meeting a need. joe rogan is producing content for people who want to see their own skepticism reflected in what he's saying. they're not going to him for medical advice. they're going to him to hear how other people think. they are, but on occasion, they will also hear, sometimes unchecked, opinions that are not rooted in available evidence. and for some, that's a problem. the notion that he has such a large audience being constantly confused, fed disinform

spotify�*s daniel ek has made his position on content clear, writing... rogan's critics listen to his podcast, they would know that the presenter is a genuinely open—minded host who seeks out all sorts of opinions, rather than blindly following those of a particular tribe. for his part, joe rogan says he explores ideas that are controversial, but can later become mainstream, like the wuhan lab leak theory on covid—19. and batya ungar—sargon from newsweek argues he's meeting a need. they are, but on occasion they will also hear, sometimes unchecked, opinions that are not rooted in available evidence. and for some, that's a problem. both spotify and joe rogan know that he and his guests are what make the show. the podcast is different, and that difference is hugely popular. butjust asjoe rogan has the right to talk to who he wants, so musicians and scientists have the right to urge spotify not to give a platform to covid advice that isn't rooted in available evidence. that is it from me in the team. coming up now, the weather but german on for the papers. g

daniel ek confirmed that joe rogan removed some podcast episodes over the controversy, and made it cleares with his star broadcaster. rogan has the most popular show on spotify and $100 million deal with the streaming service. in a statement to employees, the company c.e.o. said "while i strongly condemn what joe has said and i agree with his decision to remove past episodes from our platform, i realize some will want more and one point very clear. i do not believe that silencing joe is the answer. we should have clear lines around content and take action when they are crossed but cancelling voices is a slippery slope". and also says spotify will invest $100 million in music and audio content from historically marginallized groups. multiple musicians have pulled their music, showing him saying the n-word. he said it was taken out of context. he says he used it while discussing how the racial slur was used. >> i was talking about how there is not another word like it in the entire english language. it's a word where only one group of people is allowed to use it and they can use it in diff

in a letter to staff, the spotify boss daniel ek said while he condemns what rogan said, he, quote, " slow to it? clearly they didn't vet joe _ has been quite a slow to it? clearly they didn't vet joe rogan _ has been quite a slow to it? clearly they didn't vet joe rogan and i has been quite a slow to it? clearly they didn't vet joe rogan and what | they didn't vetjoe rogan and what he had set in the past thoroughly enough, and the reality is, the name you are, the less scrutiny you get. and so what will happen, i think, most likely come is a big name for spotify and brings a lot of listeners to spotify, they will be willing to cast asidejoni mitchell or neil young, is too big to fail, joe rogan, and just because they didn't do the research that they did in the past doesn't mean he will go away, itjust means there will be some apologies and they will hope to move on. i some apologies and they will hope to move on. ., ., ~ some apologies and they will hope to move on. ., , . , , ., move on. i took a principled stand, i don't move on. i took a principled stand, i don't know _ move on. i

i'm well aware of that now >> in the late night memo to staff obtained by axios, daniel ek said they spoke with rogan about the content and history high of insensitive language and following the chats and own reflections, rogan chose to remove a number of episodes from spotify. 113 podcast episodes have been removed. ek says he does not believe silencing him is the answer. he said cancelling voices is a slippery slope ek is committing $100 million to licensed, develop and market audio from creators from marginalized groups. spotify shares are down 25% this year of course, a lot of stocks in the tech growth have come down this is one that has been in the news for other reasons as well >> hard to know where to be if there hadn't been controversial with joe rogan he is an important part. that is why we are talking about it, i guess. otherwise, i don't know how much we need to talk about it unless we talk about it from the business angle >>> quickly on bitcoin it hit $33,000 i was going to mention that. it is 33,000 which is 30%? i think it might be. >> yes >> that thing moves around --