let's bring in deirdre bosa. >> this is the highest trade on the street, 156 bucks.the analyst sees significant cost savings because a lot of cuts from this round came in the highest growth, most profitable sectors of amazon, that is advertising and aws, its cloud unit. if you look at a seven-day chart, which we can pull up for you, this isn't a meta story and that investors are cheering this move and think this is going to set amazon on a better path. basically the street and some other investors are thinking, well, maybe these cuts happen in the most profitable areas and that's not going to set up amazon very good for the long term. that's what this note focuses on but morgan stanley says this will create more efficiencies because i wanted to highlight that other side of this. the shares moved about a quarter of 1% over the last week. that may be because they're coming in such lucrative businesses for the company when its core e-commerce is slowing down. >> you take that and factor in something that hasn't been discussed very much, the fact there is such high turn

that's deirdre bosa.he founder and cio of capital wealth planning, it's good to have you back on the show. i'll get to some of the market moves you've done, but what are you thinking about as this story unfolds? >> i'm kind of on josh's side with the idea this is a huge event and the headlines are horrific it reminds us so much of 2007, but i think when we frame it appropriately, scott, this is a unique situation in that the bank really focuses on a very defined segment of the population in crypto and pre-ipo markets, not the same as the national housing market. also, one big difference between the early 2000s is the market capitalization rate, the bank capitalization standards are much different, much stricter. i'm not saying they're perfect, but i think this is something that might not be bleeding out into all of the various financials so we own goldman sachs, jpmorgan we're going to hang in there with those positions it might not be an isolated event, but i don't think this is the next catalyst for a f

let's bring in deirdre bosa for more on this trend is this just coincidence it can't be. >> well, chinese big tech is not that dissimilar to our own big tech these are sprawling empires, many different businesses under one umbrella that have gained huge influence over different spots of the economy and collected a ton of data along the way. no, this is not a coincidence. if this is the new playbook, jd.com and alibaba may only be the start. jd.com is the second tech company in a week to announce it's breaking up its businesses. alibaba was just a few days ago said it would split itself into six different independently run companies that could seek separate ipos. who else could follow? well, the biggest names in chinese tech if they so wanted to or if beijing wanted them to. take tencent, it pioneered the super app model but also has games, advertising, fintech, cloud, media it's one of the most active startup investors, taking stakes even in american companies, like epic games let's take a look at a few others baidu. you can see this being a company ripe from this model pinduoduo, it is p

seeing across the board today, although the tech trade is kind of interesting within that our deirdre bosahere at post nine welcome in it's great to have you >> part of that is short-term, when you have this drop in yields, that's going to make some of the growthier companies all of a sudden a little bit more traf. but in the longer term, i think that investors, even within the tech space, they're looking for safety it's the big tech, well-capitalized companies have done better over the last week, versus some of the smaller, less well-capitalized companies and that brings us back to something that we've talked about for a long time, which is the idea of the bundle versus best of breed. if you were looking to cost your cuts, narrow your software focus, maybe you look to a microsoft, which may not do everything well, but does everything good enough even so, today, you are seeing a few bright spots you have sentinel one and small sheets these are solid recurring revenue plays in a moment where investors want some safety, i suppose. >> but are they really safe, if one of the fallouts from this

let's get to deirdre bosa out west. >> that short seller would be hinden berg. we intend to work with the s.e.c. and explore legal action for the factually inaccurate and misleading report they shared with our cash app business. hindenberg are known for these attacks to allow short sellers to profit from a declining stock price. hindenberg narrows in and block came a success because of the cash app. venmo had this peer-to-peer payments. it had better profitability and a cool factor that became a phenomenon in the culture. but the founder and ceo jack dorsey often talks about his mission to serve the underand unbanked. hindenburg said they did embrace that but a specific segment and he said criminals. dorsey has pointed that how hip-hop artists wrap about using cash app and how they use it in scams to traffic drugs and even pay for murder. the short seller knocks that profitability that made cash app more appealing to investors than venmo. hindenburg fueled that profitability and points to accelerated losses and after pay which was block's $29 billion acquisition

it's time for tech check and we've got a bunch of tech to check with deirdre bosa today. starting with twitter where elon musk is claiming to have lost more than $20 billion already on his investment but users may be lose something more valuable the blue checkmark. is this the way to jump start the valuation growth to $250 billion he promised? >> that's right. that says where he says where twitter could be in a few years from now. the latest valuation, $20 billion, so far cry from that. in terms of the blue check marc it's the legacy, you and i, organizations, people who got that for free, and this is sort of indicative of where he's trying to turn the platform. not for us really anymore it's for mainstream users. i was listening to an interview, an influencer creator that has 140 million subscribers on youtube, 20 million followers on tiktok saying he actually likes the blue checkmark you can pay for it because his comments he can sift through them. people who will pay are likely to leave substantial comments and not abbott. i understand what he's trying theerds, $250 bi

. >>> welcome back i'm deirdre bosa and it's time for "techcheck."rce investors rejoicing benioff seems to have turned ohana, better results. counterpoint, snowflake and box are getting crushed in today's session. the culprit are weak outlooks. snow snowflake, enterprise darling of the 2022 cycle seize the top line decelerating. box ceo spoke directly to market saying customers are pulling back against a less certain macro back drop. salesforce, by the way, didn't dispel that notion it's expecting sales growth of just 10% this year that only narrowly avoids that single-digit territory of the legacy or mature software companies and neither did the cloud giants early this earnings season as a group, they're one of the best broad gauges of enterprise spend. these are the latest numbers you're looking at but they are expected to fall aws into the teens where does that leave investors as we approach the end of this earnings season? wall street may be changing its tune a little bit. looking less for cost-cutting, more for actual top-line growth. bernstein

deirdre bosa in san francisco. with, look, ipos are not dead, although maybe they are if you're in london >> the windows still shut, but we're getting signed we talked about it, the first ipo in about a year could be a big one in terms of money raised and market valuation that would be chip maker arm it's looking to raise at least $8 billion in a u.s. listing at a valuation of $32 to $70 billion. it tells us where we are in the ipo landscape. chip stocks have been extremely volatile over the last 12 months exciting in terms of the secular trends of digital transformation, of course, the chatgpt/ai hype. the ipo window has been frozen shut so you might expect banks are vying to get into this deal. that may also account for the wide range here's arm's ceo on "tech check" just a few weeks ago talking about the ip orb >> we're being very careful as we prepare for an ipo. we're fully committed to making that happen this year in twnt 23 plans are well under way we need to balance that with making sure we're able to captur

apple, microsoft up 2% smaller names with svb expo sure like roblox are up today deirdre bosa has a techck for us hey. >> that's right. as you said, carl, nasdaq is the outperformer in today's session and tech gainers the interesting dynamic is playing out in real time the sharp move in bond yields is making valuations more attractive rates higher, future profits appear less valuable growthier companies they're looking better right now as yields drop, despite the turmoil in tech over the last few days and questions about the financing landscape, you're seeing even unprofitable tech rise in today's session. zoom, data dog, crowdstrike, some of the gainers, outside of pharma on the nasdaq 100 if there is a flight to safety in tech, it's fortress like balance sheets you are seeing apple, amazon, outperforming in the session beyond today's immediate action that could be a different story and you can see some of this reverse. bofa warrants the collapse of silicon valley bank could set up a big tech versus smaller tech dynamic. if the events of the past few days created a big banks over region

. >>> welcome back i'm deirdre bosa and it's time for tech"techcheck."y the study comes from elon musk's cost-cutting campaign over twitter have a listen. >> i think i need to stabilize the organization and just make sure it's in a financially healthy place, and that the product road map is clearly laid out. >> but how much can you really slash while keeping the business running? musk has been able to keep the lights on, sure, but it has come at a huge cost to fundamentals a 40% annual decline in revenue and earnings, according to the journal. in terms of those cuts, first it was head count, then office space. salesforce bill by 75% now reportedly its cloud bill with amazon web services and aws could be a new kind of test here because amazon is also an advertiser on twitter and the information reports that amazon have threatened to withhold payment for advertising that runs on twitter because twitter is refusing to play its cloud bill more broadly, though, this showdown is highlighting the vulnerabilities at both of these companies. the slowdown at cloud

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shares are higher after that ride sharing company announced a leadership change, deirdre bosa has theils. >> tyler, shares are higher, although they have come off the after hours high. they were up more than 4%, and this as the cofounders of the ride sharing company, logan green and john zimmer stepped back from the day-to-day operations. they are handing over the ceo reins to david rischer. he has had management positions at microsoft. for the last decade he's been running a nonprofit. he's going to have to turn around a company that has fallen behind. this is a company that has also been trying to get more profitable over the years. it emerged out of the pandemic weaker than it was before. in terms of market share, uber commands 74%, lyft's market share has fallen to 26% from 38% since the beginning of the pandemic. clearly there is a lot of work to be done here, tyler. we will be talking to mr. rischer in about 15 minutes on your show. >> look forward to that, thank you. >>> let's trade this stock, karen, any thoughts on lyft? >> you know, i thought lyft had sort of been turning th

. >>> let's stay with this topic and get to today's tech check and to deirdre bosa. take it away >> tyler, great conversation there. let's continue it with up-front ventures mark stusser who joins us thank you for taking the time to be with us today yesterday, you were one of the first and one of the most prominent to tell the vc community to not panic what were you telling your portfolio companies? did you advise them to stay calm and keep their money in svb? >> well, let me start with the fact that i don't believe anything was fundamentally wrong with svb what happened during the global financial crisis is banks were lending money to people who shouldn't have had money but that isn't what was happening here i believe svb was largely solvent, hasn't violated the banking ratios that were talked about. what happened was a classic panic. everybody said race for the door and then all of a sudden you're in a movie theater, people stampeding for the door, everyone trying to get out first. what i think the fed did today was an important move. by the regulators stepping in,

check out our website and newsletter more "options action" coming for you after this >>> our own deirdre bosa has reporting on the silicon value bay bank collapse. just keeps coming. what have you learned? >> focus today has been on private cash burnings. public companies, they're affected too, like roku, which you just spoke about vil convalley bank has been so intertwined. i'm hearing there are likely more public companies to come out and say they have cash there or don't to reassure customers more questions than answers now. i have been on the phone with founders in tech they're all wondering how much money they're going receive monday and will they be made whole eventually urgent for cash burning startups who weren't able to get their money out and have bills to pay. i just spoke to sunny singh, he dodged a bullet by waiting but now in a tough position because he faces uncertainty, percolating through the tech ecosystem. >> we started to issue employment letter tos start paying people and set up payroll, so that's all going to be delayed and finding an office is going to be delayed depend

. >>> our own deirdre bosa has fresh reporting on the silicon valley bank collapse deirdre, just keepsing what have you learned? >> keeps coming. the focus today has been mostly on private cash burning start-ups. now we're finding out public companies are affected too, like roku, which you guys just spoke about. silicon valley bank was so intertwined in the start-up and tech community it has held deposits for late-stage companies pre-ipo and i'm hearing there are more public companies to come out and say they still have cash there or that they don't to reassure investors. more questions than answers for now. i've been on the phone all day with founders in investors and tech, all wondering what's next, how much money will they receive monday and will they be made whole eventually cash burning start-ups, not able to get their money out in time, and they now have bills to pay i spoke to someone who just raised his seed round. was about to deposit it in a newly opened account he dodged a bullet by waiting but now he's in a tough position because he faces more uncertainty, still percolating

it's time for "tech check" and deirdre bosa looking at one part of the tech trade that has not, not,dee? >> that■ó safe haven status we' seen the last week or so has not extended to chinese tech. take a look at the basket of adrs that has underperformed the nasdaq. you have alibaba and badu. it was crushed after downloads of the app. you may not be super familiar with it but it has 750 million monthly active users, more than tiktok and runs the app that has made in-roads in the app. i hear more than download issues for its parent company . it is raising eyebrows. you might remember the super bowl ad, the tag line shop like a billionaire for temu played in two slots. chinese tech investors care about efficiency,Ñi andÑi it's one temu, that is, of what i'm calling chinese apps with american characteristics. chinese tech companies just couldn't gain traction among consumers here. there have been several, temu, shein, the fashion giant popular with theÑi younger demographic, tiktok and cap cut. this is an editing app owned by bytedance and is gaining popularity here. big american money i

thanks for having me >>> turning back to the demise of the silicon valley bank, deirdre bosa who has e, deirdre, after the fdic shuts it down. >>> yeah, my phone is blowing up, sara, a lot of concern from startup founders and investors i heard from one founder who said he just got his svp bank account approved a few days ago and was about to wire millions of dollars of seed money into that account he didn't. his anxiety is rising. he dodged a bullet in that he didn't put his money in silicon valley bank, but he's saying the longer he waits, the chance some investors will bail, and i quote him here, the sky is falling again. i know other founders as well were not able to get their money out in time. in fact, i spoke to one investor this morning who said some of the founders were actually lining up at the bank -- at bank branches to try and get cashiers checks that's how desperate the situation is here on the ground. there's a lot of questions people are just trying to figure out right now, continue to try to figure out. what happens because of the most important bank in silicon valley,

let's bring in deirdre bosa for more on that story deirdre, what can you tell us?sands. >> it is it's not particularly good for your workforce morale to have to do this more than once we talked about this, measure once, cut twice, that is difficult for these big tech companies in the current environment. andy jassy rights, some may ask why we didn't announce the role reductions with the ones a couple months ago? the short answer not all of the teams were done with their analyses in the late fall. it does beg the question who else could be doing more cuts? we know alphabet did a relatively small proportion, not just of their workforce, but small compared to the amount of hiring that they did over the last few years during the pandemic so yes, there could be more. we've seen that with meta already. already today, i was working on this piece for you, a look under the hood of this big tech safety trade we have seen over the last week, week and a half. the new safe haven but apple up more than 4% in the last week, meta up nearly 9, microsoft 8%, google 12%, amazon 6%. w

here's what the incoming ceo had to say on "fast money" yesterday evening to deirdre bosa about how hek you start by making sure you're priced competitively. >> okay. >> at the beginning if people are looking at both apps and we're not winning or at least matching i think we've got a problem. as you drive volume, assuming the economics, every time a person takes a ride we make a little money. right? we've got to make sure we get people taking a lot of rides so we can make a lot of money and make our cost position appropriate so every time with we can drop that to the bottom line. >> we're joined by bernie mcternin, a senior analyst at needham. how do you react to this change in the executive suite, and is mr. risher -- what is the hand mr. risher has been dealt to play? >> it's a great question. and i think the important context here is the company strategy's already been changing since the beginning of this year. that's what dave was just talking to you about on "fast money" last night, where it's really lowering prices. to quote him you're not in the game if you have lower prices. so

deirdre bosa. i came back and said, those sites have sailed. you think doordash for me.der of the pivot, pivot being actual profits. and the salesperson, which, david, it's prescient. so, lyft, they just kind of didn't do it. you know, a lot of people off of it, david, they're just too nice. >> they're nice. >> nice is not going to get you anywhere, it's going to get you $3.8 billion market value even when your stock is up. >> there's something to be said they're not a cut throat business people. >> well, they're a cut throat business. >> let's get to deirdre bosa. morning, dee. >> it's unclear whether the new ceo is going to be more than them. they were better to their riders and drivers. i asked him, what's the first thing he's going to do as ceo, have a listen. >> i think you start with making sure you're price competitive. >> okay. >> at the beginning, people were looking at it and we were not winning or matching. >> that seems like the price alerts are going to continue. >>s awe you drive by, assuming economics, every time a person takes a ride you make a little mon

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. >>> let's get to deirdre bosa with a news alert on amazon. >> amazon is pausing construction on itsad of real estate tells us in statement quoting him, we're always evaluating space plans to make sure they fit our business needs and create a great experience for our employees since it will have pace to accommodate 14,000 we decided to shift the groundbreaking of pen place, the second phase of hq2 out a little bit our second headquarters, he says, has always been a multiyear project and we remain committed to arlington, virginia, and greater capital region it examines back in 2017, guys, they went on this huge campaign to choose a second headquarters. they were expanding their workforce by a huge amount ended up expanding it more than anyone could have imagined during the pandemic. now amazon is trying to pull back some of that. remember those cuts amount to 6% of corporate workforce, 18,000 employees. at hq2 there's no job cuts, this is separate, only pausing construction and expect to pick it back up this is part of the larger amazon story their a trying to reduce some of the huge

. >> and it's not just good enough deirdre bosa, thank you. >>> after the break, no landing to hard landingill atwh wth mean for the market he joins us next for businesses of all sizes, there are a lot of choices when it comes to your internet and technology needs. when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. i think i'm ready for this. heck ya! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. ♪ here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed

deirdre bosa is looking at losses at tiger global i'm glad we got to the story >>> private valuationsblic ones. there's a lot of discretion that can be used in marking the valuations of their public and private portfolio, we are getting numbers from some of the largest, most active investors of the last few years. tiger global one of them, of course "the journal" reports the fund marked down the value and startups by 33% across its vc funds, soft bank marked down by a similar amount last year that was the peak of unicorn valuations companies valued at a billion dollars or more. tencent is an interesting one. it has become this investment powerhouse all five names, by the way, are investors in tiktok's parent bytedance. a lot of money at stake as the government tries to figure out what to do david, tiger global was the poster child of the tech boom, a crossover fund that did both public and private investing hit extremely hard during the tech rally last year. as you have been talking about all morning and may be enjoying a renaissance this we are, the last week or so, nasdaq and tech h

let's bring in deirdre bosa with the details. what spurred this?taking a page from meta's book it's painful for these forces typically when you want to do job cuts you want to do it once and it's difficult, and in that announcement, someone asked why we don't announce the rule reductions the short answer is that not all of the teams were done with their analysis in late fall and kelly, you can imagine that other big tech companies that hired a lot during a a this as well and imagine, that there's a possibility there's more cuts to come from other places. >> amazon shares are down. with meta's shares be up in amazon's case what do you think the market is saying they didn't go deep enough >> that's a good question. with meta it's been the silver bullet fort stock that keeps moving higher. the fact it's not happening for amazon, it's down 2.25%. it's less than 10% of the corporate workforce and a tiny fraction of the doubling over the pandemic that includes warehouse workers. it could make investors the areas where they did the cuts, it happened in th

let's get to deirdre bosa in san francisco.alero all table private deals at $7 billion and up bravo one of the most private equity buyers this year on the opportunity that he sees >>> these multiples or revenues from gone from 17 times on average at the peak to about four now what that does, it's much more important than valuation is what it does is it produces an environment where some of the highest quality, largest software companies are looking to go private. >> so the latest deal could be for digital survey software company. it is fielding a $12.4 billion bid from canada's largest pension fund and it would represent one of the biggest buyouts of the year. the price $18.50 per share that is a 6% premium over last friday's closing price, but it's a 40% discount from its 52-week high and therein lies the opportunity for private equity buyers what bravo was alluding to they have the 2021 peak and management and boards, they may now be more willing to accept that lower valuation qualtrics represents a risk. s&ps swooped in with

deirdre bosa is here to help us break them down. welcome. >> i love the new studio i'm so happy to be here. >> nice to have you here on the east coast tiktok, biden administration demanding that the social media platform's chinese owners spin off their shares or face a nationwide ban this is the uk bans the app on all government devices the head, i believe it was of tiktok u.s. said that spinning off would not solve the problem. >> it won't. >> any better than their plan to ring fence u.s. data with oracle. >> it won't and let me say i think we've seen this movie before remember huawei. we were searching and felt like every country in the world in the western economy was trying to search for a way they could have the affordable cheap telecommunications equipment that huawei provided but nobody could get comfortable with the chinese ownership. tiktok and bytedance is more transparent but so hard to repair that trust or have that with bilateral tensions rising and rising there probably is no way to know for sure so divestiture doesn't

let's get to a special evening edition of tech check from our deirdre bosa.ck and coinbase.v hindenberg research the short seller put5a■ out a big report today alleing it allows chart. block became a wall street darling largely due to the success of that cash app. paypal's venmo pioneered a simpler interface forzv■Ñi peer peer payments but it was the cash app that climbed the app store charts, better profitability and this cool factor that became a kind of phenomenon in hip-hop fáculture. hindenberg says block won those advantages through flawed and murky fáqmeans. founder and ceo jack dorsey he often talks about his mission to serve the under and unbanked. behindenberg says that's true butqok they embraced a specific eggment of the underbanked, that would be criminals. dorsey often points out how rap tists r( hindenberg points out they -- fueled by avoiding a key banking regulation meav(8 to protect merchants. also points to accelerated losses at after-pay post e1blocs $29 billion acquisition. so block responded pretty hard. "weqe$r'tend to work with the s.e

. >>> welcome back i'm deirdre bosa and it is time for tech check marc benioff may be facing his biggest's 24-year history, no less than six activist investors are circling different stakes, different interests. talks with elliott did not resolve concerns, so there's likely to be a proxy battle. something that all these activists are focused on, lack of margin growth margins look back next to its peers and look even worse when you dig into how benioff has been spending the last few years which "the journal" did do $50 million for the annual dream force conference, u2 concerts, a wellness retreat owned by the company and, of course, that $10 million salary for matthew mcconaughey who participated in high-level meetings. you could argue it sounds a little more but all that is easier to overlook when revenue growth is accelerating as it has through much of the company's history. it is expected to report further decelerating top-line growth that has fallen into the single digits the first starboard's jeff smith calls this subpar in profitability. >> you can't keep growing as fast and have to

. >>> welcome back i'm deirdre bosa time for "tech check."in tech stocks hasn't been a loved one. the speculative, unprofitable names with little fundamentals to back it up. then the chips space, moving higher on the notion inventory levels will bottom and recovery or at least a stabilization can begin in the second half plus chips are, of course, as you've heard by now, a key part of the hot new ai chatgpt story generative ai is creating excitement for nvidia and gpus the etf is up nearly 20% versus the nasdaq's 10% gain. nvidia up 60%. the latest earnings, though, do tell more of a mixed story, marvel shares lower on a weaker outlook. the street asks, does that guide suggests the worst is now behind it not yet at least as you can see shares down nearly 9%. broadcom moving higher they expect to see a, quote, exponential rise in demand for networking chips this year as the cloud giants look to have more generative an i in their systems. >> i think it's still early innings on ai but we are indicating we are seeing a very strong sense of urgenc

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throughout march we are celebrating women's heritage here's deirdre bosa. >> i grew up with three brothersplayers one day as i was watching one of their games in a cold arena shivering text to my dad he said why aren't you playing the next week i was on the ice and i learned something valuable just get out there and try you can keep up. i played hockey for years then i carried that empowerment with me in other areas of life and career so my advice for other women is don't sit in the stands you cannot only keep up but you can lead you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠. i know the markets have gone up and down, but you're right on track to reach your goals. my amer

we will hear from ragu rajan and aaron klein, and we have coast-to-coast coverage and deirdre bosa with fallout in silicon valley, and rick santelli is tracking the crazy moves for us and steve liesman has what the market thinks of the fed now. deirdre, let's start with you. >> a collective area, and i've been hearing from founders and will they be able to make bills this week and investors that have been scrambling all weekend to support portfolio companies over the longer term, though, the picture is less clear and it's likely to be more challenging for the tech community. start-ups are likely to face more difficult financing landscape. silicon valley bank occupied a very unique place here and in tech overall providing services, products and flexibility and even just accounts for early-stage companies could not or would not serve many investors acknowledge that the bank, yes, managed its risk terribly and they say its value to the tech ecosystem was unsurpassed. that backdrop could hit start-up valuations further and push some of the biggest fund managers to mark down their private bo

. >> deirdre bosa covers amazon for us out west.its in with amazon strategy and the amount of cuts we've already seen >> i think it's interesting what -- i don't know if you have talked about this, i was getting ready to come on tv where they're taking place, amazon web services and advertising these are some of the growthiest and also very much so the most profitable parts of amazon it's interesting they're taking place here and like david was just talking about, it took time to figure out where they needed to cut, so maybe these weren't the obvious places when they look at becoming a more lean organization even the growthier ones, parts of the company get cut. when you look at aws and we talked about it, the growth rate used to be in the 30 and 40%, that is expected to drop to the mid teens in the current quarter and potentially decelerate even more throughout the year it makes sense they were cutting here they cut 17,000 not long ago 18,000 excuse me. earlier this year. this is an additional 9,000. aept i'm not sure where that br

time for today's "techcheck" out to deed bra bosa for moring on the drama and saga silvergate and its very, very bad no good week deirdreftx biggest to fall, silvergate may never present potential failure of banking piece of crypto kicking off a fresh new crisis in the space. shares absolutely plunging this week after the bank had to delay release of its annual report and ability to continue as a growing concern. so solvency a crisis rippling across the sector and silvergate functioned at the so-called rails of crypto connecting u.s. crypto industry with the traditional financial system plays a major role here and major players on all sides quickly pulling away from that infrastructure circle. coinbase, paxos and jpmorgan, readjusts downgrading rating to under weight and withdrew its price argument raising the question yet again how many more dominoes will fall and how much more money lost? stablecoin, entire value derived from confidence. a belief one circle or one tether, one ust worth one u.s. dollar amade the many crises of confidence in crypto, tether, take a look. largest stablecoin from $70 billion shown cracks s