deidre bosa has the biggest headlines from google's event.esident is in the new york area he was upstate talking about the debt ceiling there's some suggestion he's showing a willingness to discuss possible budget restraints he said, america has the strongest economy in the world, but we should be cutting spending market may have moved a bit on those kmcomments we go to close, the dow fighting, but the s&p is nicely positive. >> around that and today's inflation numbers were consistent i see it just as a reason to turn the dial this much in the direction of maybe there's a way where this turns out in a benign fashion for a while. i think we got stuck in this mode of feeling as if it has to be a hard landing or soft landing. we have to know exactly. in reality there can be these equal moments where the fed isn't fighting you and the economy hasn't fallen apart and the market does what it does and you get excitement about ai over here and the banks don't go to zero tomorrow and you have a lot of give and take that's keeping us in this range you

deidre bosa joins us now i imagine the jump in stock was not because of the foldable phone, but because>> it's interesting, because for the first portion of the conference, it was kind of just flat there wasn't a lot of excitement about it, but once they showed how search would work, that is when the stock really took off and kind of tells you what investors have been looking for. generative a.i. is going to make search stronger. here's their words on a.i. >> we are at an exciting inflection point we have an opportunity to make a.i. even more helpful for pe people, for businesses, for communities, for everyone. we've been applying a.i. to make our products radically more helpful for awhile with generative a.i., we are taking the next step with the bold and responsible approach, we are reimagining all our core products, including search >> so, it wasn't just words, because he has been saying something similar for a very, very long time there was a very effective, about 90-second video, it spoked how this new idea of search would work it pulls in not just those ten links that you get from

deidre bosa has the details. >> reporter: this is interesting.s is not an active investor this is a south side research firm looking for answers they say they wrote it in response to what they say the magnitude of inbound calls about the firm and to tell paypal's board there's investors that are seeing better metrics, but don't want to jump in because of the uncertainty. paypal is in limbo we talked about its profitability, but thought to be less exciting and innovative that's a problem because paypal was once a darling it was worth more than $350 billion in market values. if you went into it even further since it separated from ebay in 2015 it has underperformed in s&p 500 and nasdaq one of the biggest pandemic stories and one of the biggest jumps and it's come down a lot from there on the latest earnings call there was no update on who is going to be the ceo. >> you used the words in limbo gordon haskins called this a lame duck stock because the very issues in which you're talking about. also wondering whether elliot, the activist who was there

deidre bosa has the details sx >> that walkout expected to happen about 40 minutes from now and the employee group is expecting 1900 employees worldwide about 900 seattle itself they headquarters of the day one building and they are complaining about a few things, one is return to office, second is layoffs. remember at the end of last year and this year, they did their biggest rounds of cuts ever equalling 27,000 employees also amazon's environmental record and as you said, sort of a lack of trust and in decision making to put it in perspective, amazon world wide has about 350,000 corporate and tech workers this is separate from the warehouse workers that man those fulfillment centers where we have also seen some rise in worker turmoil in terms of strikes and unionization so this one in particular is looking at the corporate employees. it is a very, very small number of vocal people, but again, we've talked about this in the past, does it amount to a distraction for the company at a time when it is seeing slowing growth and trying to sort of show that it is innovative and be part of this who

deidre bosa has more is it the nature of his drop in? did he say something in passing?porter: i wish i knew to be a fly on the wall. in the morning we saw the arrivals from some of the biggest names in tech. you named two of them. coo of alphabet and the head of microsoft. sam altman founder of open a.i. and chatgpt. vice president kamala harris hosted them in the roosevelt room yes, we did hear that the president dropped by as well why? well, the stakes are so high here if generative a.i. is the biggest platform shift, or as they put it, more important than fire and electricity, washington better get on it time and time again we've seen technology develop faster than government policy. government is trying to take early action and be ahead of it. the white house announced a number of actions around a including research hubs. the v.p. said, the private sector has an ethical, moral and legal responsibility to ensure the safety and security of their products and, you know, guys, the private sector public pointing the finger back to the public saying that they have this re