you've probably heard of doordash. it's one of the most popular. >> you know, companies, especially during covid what people are staying at home order in from their favorite restaurants, getting it delivered well, today alone, more than 2000 workers in the bay area were laid off from just these 2 companies will start with doordash. that food delivery app companies eliminating more than 1200 corporate jobs. that's about 6% of its workforce saying it just hired too many people. when the delivery demands surge during covid. today, the ceo told employees doordash was undersized before the pandemic and sped up hiring to catch up with its growth. in a statement the ceo wrote, most of our investments are paying off. and while we've always been disciplined in how we managed our business and operational metrics, we were not as rigorous as we should have been in managing our team growth impacted employees. a doordash will receive 17 weeks of compensation and they're february 2023. stock best. that's important financially. all he

doordash is a great example of that. the customer demand is also superstrong.nk they are preparing for a much rockier period had. -- ahead. ed: layoffs never a pleasant subject to cover in this industry, here in san francisco or out on the east coast, jackie, then you for your reporting. the november jobs report a different picture. this has been the story of the week, we'll be discussing in the show, the market expecting the fed to push rates higher. the possibility of a recession is a much wheeler risk. joining us -- realer risk. joining us is carol, chief people officer at the software platform for staff -- four fast-growing businesses in the u.s. and u.k.. you. have been crunching numbers. there is a human side to the story and a workforce side to the story. let's start with a workforce side. what is your interpretation of what we are seeing across the technology scepter -- sector from a job cuts perspective. guest: what you have been talking about, the headlines are interesting, eye-catching, the devil is in the details. when you go down a few layers in te

doordash food delivery service in cryptocurrency company. kraken are the latest companies to announce those layoffs are conference. justine waldman live in the newsroom with all the details justine. well, vicki today alone, more than 2000 workers in the bay area were laid off from just 2 companies. so we'll start with doordash. >> the food delivery app company is eliminating about 1200 corporate jobs or about 6% of of its workforce saying at high or too many people when the delivery demand surged during the height of the covid-19 pandemic. today, the ceo told employees the doordash was undersized before the pandemic and sped up hiring to catch up with its growth. so in a statement the ceo wrote, most of our investments are paying off. and while we've always been disciplined in how we have managed our business and operational metrics, we were not as rigorous as we should have been in managing our team growth impacted employees. a doordash will receive 17 weeks of compensation and see their february 2023. stock vest health benefits will contin

on the other hand when you listen to the reason for the job cuts at doordash and meta and others, what you hear over and over is they bet on long-term secular shifts around working from home and those did not turn out to be true we are not bouncing back to 2020 but in terms of 2019 in people traveling to the office and spending on those experiences. it sounds a lot like the year before the pandemic. if i will be honest with the audience here, i hear it from the ceos and i think mark zuckerberg saying "we over bet on e-commerce being a long-term secular shift. i don't think you thought everyone was going to work and shop from home and your business was big enough to subsidize whatever meta creation you wanted to do i think you took the opportunity to hire a lot of people because competitors were hiring a lot of people and now you have a ready-made excuse to trim the company down against a lot of growth you weren't able to manage in the workforce. i hear that reasoning over and over again where it is happening especially in truck. >> nilay, i think all of these companies, and not just fa

so they will send doordash to that site and hand it off to them. two there is misconception that the bay area is wealthy. while there are areas of wealth, many struggle for daily needs. >> when we first moved to california, my husband , and my kids d yward.and from our apartment complex, we didn't have a car at first, and we would walk to the grocery store. so as we were walking under the bridge, on jackson street, there is a lot of homeless people. and i think that forever impacted my kids. >> i don't know how she does it . she works with a smile, she helps with a smile and helps a lot of people. >> [ laughter ] >> everyone volunteers with a smile on their faces. >> this is what it is all about. >> working to bring essentials that are desperately needed. >> jocelyn moran, thank you for that story. please consider donating your time or family for the bay area families food drive. scan the qr code on your screen or visit kpix.com/give. >>> ahead, the off day was spent at the park, and tears were brought to the eyes of this nfl player. >>> how a teac

doordash is laying off about 1250 people in an effort to cut costs.is according to an internal memo seen by bloomberg. the cuts will affect about 6% of the food delivery services workforce. doordash saw his business boomed during the pandemic but it is still unprofitable. more tech companies lay off employees and the u.s. government is taking advantage of the growing pool of talent. executives from the u.s. veteran affairs office are on a mission to recruit top designers and engineers for the agencies. but enticing workers to jump ship to close the gap in government will be a daunting task. historically, the u.s. government has long trailed the private sector pay, driving much of the staffing shortfalls. and crypto doubter cracking is reducing his workforce by 1100 people or 30%. that is part of the plan to adapt to current market conditions according to a statement on his blog. coming up, the latest from sam bankman-fried's ongoing issues. caroline: where snowflake is trading after the shares have hours get the shares have tumbled on guidance. the st

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a doordash will receive 7, 2, weeks of compensation and see their february twenty-twenty through stock vest. all health benefits are going to continue also says 1100 people or 30% of the workforce is be laid off. in a statement, the ceo there says we are extremely grateful for the contributions of those impacted by today's announcement. and we're going to our best to help them transition to the next opportunity. kraken seal also says the company will pay 16 weeks of base pay for all departing workers. still ahead of the kron 4 morning news, stanford hospital says it's seen a lot of children being a minute to their facilities lately. why they think the pandemic is partially to blame. and as we head to break, here is a look at the rain across the bay area. the north bay. >> you're getting now and we're going to continue to see it. move across. john sabol has your full forecast. we'll be right back. all right. well, welcome back to the kron. 4 morning news. you can see john here on hand. >> tell us about the range on. we've been talking about it. it's here. we needed it. where is it here?

doordash told -- the company will be eliminating 1200 jobs as it seeks to lower its operating costs. one of the largest cryptocurrency exchanges crack and announced it will be laying off 1100 workers according to the san francisco chronicle. this latest round of layoffs following a report from the bureau of labor statistics indicating the number of job openings fell last month. >> some bay area commutes could get more expensive as transportation officials explore ways to alleviate traffic congestion, and one idea being considered is adding more toll roads. abc 7 news reporter is live at the bay bridge toll plaza -- >> it's not the most popular idea, but we have all been stuck in bad traffic in the bay area because of an accident or rush-hour traffic. transportation authorities are hoping to change that. in the future if you drive certain freeways or highways you could be spending a little extra. traffic, congestion, gridlock. >> it so crazy all the time. >> it something that most of us dread. >> it gets pretty bad coming from the peninsula. >> some say it's just getting worse. >> it'

doordash is adding to the tech layoffs in the bay area.more than 1200 corporate employees and that is about 6% of staff. doordash says recent inflation has significantly lowered demand. shares have gone down more than 60% this year. other companies also made major staff cuts this year. >> looks like the four day workweek experiment is a success. a survey done by a nonprofit find the four-day workweeks are good for business. a nonprofit along with researchers surveyed companies over six months in the u.s. and ireland. without a deduction in pay, employees felt less stressed, less fatigued, and were more focused. the average revenue actually rose by 30%. 27 companies responded to the survey said they would not return to the five day workweek. why aren't we having a party? kumasi: well, a lot of questions. hawaiian highway in danger. the lava inching coser to the main road. ♪ reggie: all i see are three elsas. it is our frozen takeover, a preview of our backstage tour of the musical now playing at san francisco's theater. we thought it was fu

what concerns me here, so doordash in 2021, more than doubled its workforce from i forget exactly what numbers are, a little under 4,000 to more than 8,000. now they're cutting about 15%, which is nice, but they're still a lot bigger and i guess the signal is they feel like they need to be bigger. they're still growing, but we have got this move to consumption based pricing. companies being concerned about how much growth there's going to be in '23. i wonder, could there be more cuts if q4 doesn't turn out to be as nice as many hope, and not just in tech >> two points. one, the first is doordash, a lot of tech companies, janet yellen said yesterday, andy jassy saying they don't regret hiring because there was such a boom in the pandemic but to the second point, if twitter is successful, they're cutting fifty% of the workforce, it they successfully come out of this, doesn't it show the inefficiencies across the board, because if they can do it, why shouldn't everyone else? >> perhaps, and they have that billion dollar debt bill to pay which helps the cause for wanting to cut thank you.

today the ceo told employees at doordash was undersized before the pandemic and sped up hiring to try to catch up with its growth. in a statement, the ceo wrote, quote, most of our investments are paying off. and while we've always been disciplined in how we have managed our business and operational metrics, we're not as rigorous as we should have been in managing our team growth affected employees at doordash will receive 17 weeks of compensation and see their february 2023 stock vest. all health benefits will continue through march of next year. the ceo of the cryptocurrency company crack and also says 1100 people or 30% of the workforce is being laid off. in a statement, the ceo says we are extremely great for the cut for the contributions of those impacted by today's announcement and we'll do our best to help them transition to their next opportunity. all impact and cracking night 7 notified as of this morning, crack and ceo also says company will pay 16 weeks of base pay for all departing workers. coming up tonight on kron, 4 news at 8, a medical emergency involving an infant boy

let's talk about doordash, down 60% this year. that's not great but you see it going to 96 bucks. right now. when does it hit your target? >> oh, it'll probably take 12 months. i think the really interesting news is what they did this week, which is they announced a 6% to 7% reduction in force, what's called a rif, lay off and this is, we got about a dozen of these tech companies now that have done five to 10% workforce reductions. i think you'll see more companies do this , especially, ashley, the covid winners, the companies that had this big surge in demand because it turns out they probably over extrapolated the demand and as we head into softer economic times, you've got kind of this double whammy on their workforce so i think we're going to unfortunately see more of these layoffs. that to me was the big news that doordash this week had to lay off six to 7% and it follows with meta had to do other companies had over built, amazon and google is going to have to lay off people too. ashley: you say uber is still your top pick for rideshare companies. why? what makes them stand o

doordash is a good example. doordash is growing.a pandemic darling and continues to see growth, but it got so bloated during the pandemic that it is now having to react and use of job cuts as a cost-cutting mechanism to make sure expenses do not outpace revenue, which is worrying for a lot firms on the west coast. guy: ed ludlow, and you. coming up, we talked food, food inflation and the giant car gill's executive. alix: about one hour into the u.s. trading. still slightly above the 200 day moving average off the data was pretty heavy. abigail is tracking those moves. abigail: to your point rolling over just a little bit. this looks more dramatic than it is, down a half a percent on that weaker ism data or some of that big rally having to do with windowdressing. cooler heads prevailing now. as for what's perhaps helping earlier on the ism. we are getting some cooler economic data suggesting the feds hawkish tilt, hawkish stance i should say overall on the rate hikes in recent meetings has started to work. the pca numbers are more at

. >>> and it is a rough year for gig economy stocks doordash and lyft both losing about 70% this year, and airbnb and uber down about 50% and 40% respectively these are very tough comps for still private gig companies like instacart. the information reporting that the grocery delivery startup had its valuation for the fourth time this year down to just $10 billion. and its peak valuation was $39 billion, that was in march of 2021. and instacart of course a private company that investors continue to look to for tea leaves about the ipo market and potential public debuts. it did file confidentially earlier this year only to scrap it but the question is how are other startups thinking about valuations and marking their port portfolios let's bring in bob pisani for some context these valuation cuts not necessarily good news for the employees or vcs, but the retail investor, could they finally see, you know, a deal or at least some better price action on ipos next year if in fact the ipo market opens >> yes, short answer is yes. and it is about time this is -- 2023 will be the year of the

it is a job waitressing or driving for uber or doordashing, would that be approved? >> city employees are allowed to take second jobs. the thing that has frustrated people is there seems to be a culture of them doing it under the table, and a lot of these people make a lot of money. we don't know exactly who these people are yet. we are working on it, but in lisa pratt's case, she was making a good amount from the city. >> perhaps this is the next phase of your investigation, but do you know if other city departments have similar problems? are they in anomaly, the health department? >> health department has the most people working second jobs, and it may because it is somewhat common practice, but the second most people walking second jobs is in the public utilities commission with 18 people. it is a far jump from 18 to over 400 in the department of public health. >> do you know if they are talking about an investigation into whether any of that side job was done on company time or the time of the city? >> for lisa, we have confirmed it was done on time for the city

. >>> doordash is announcing mass layoffs. they will cut 1200 corporate jobs. employees will get 17 weeks of pay along with their february 2023 stocks. the ceo says the company up tiring during the pandemic during the increase in demand and food delivery. >>> a new loan forgiveness program could increase affordable housing in napa county . a measure was approved to forgive construction loans for granny units. homeowners must rent them for at least five years to low income families . from $45,000-$105,000 depending on the size of that unit. >>> i like it to feel like a special location. a holiday tradition returned to san francisco. they go above - life is uncertain. it's okay to feel stressed, anxious, worried, or frustrated. calhope can help. access calhope's free and secure mental health resources today. call our warm line at 833-317-4673 or live chat at calhope.org. ♪♪ entresto is the #1 heart failure brand prescribed by cardiologists. it was proven superior at helping people stay alive and out of the hospital. don't take entresto if pregnant; it can cause h

let's look at investors dashing away are from doordash. the stock is down about 4.6%.ere, that lower chart is well off the messier part of the session. rbc cut its price target from 70 to $60 per share citing slower core order growth. all right, they have order growth slowing in the third quarter. will continue to decelerate further. earlier this week doordash showed 6% of its staff the door in an effort to rein in if costs. year to date it is down 62%. crowdstrike's warning earlier this week about customers if cutting back on cybersecurity spending proving to be a little prescient here. remember, warning took down many of the cybersecurity socks on wednesday, and today zscaleer is falling, and it is not a pretty picture there, down 10%. this is the one-week gyration for z scaler. the company says deals are taking months longer than usual to close which negatively impacted the firm's billing growth. still raised its full-year growth forecast, but steeple analysts noted it was smallest hike in years. ulta's latest report is just a thing of beauty. the cosmetics and frag

doordash is not immune. analysts are concerned about the growth story. boeing is moving higher. a potentially big order for planes coming from united airlines. northrop grumman is up. they have unveiled their new stealth bomber. then we have the job story in canada. as well as the story the markets are reacting to. the canadian economy adding 10,000 jobs in the month of november. that was quite a pullback from october. that is starting to raise questions about whether the bank of canada is going to start to raise rates at a slower pace. katie: we heard from the richmond fed president earlier today commenting on the labor market saying that bringing people back to the workforce won't be so easy. >> labor supply looks like it will remain constrained. the fed's efforts will not be easy when americans have 1.3 trillion might more in savings than pre-pandemic. katie: for more insight, let's bring in mike mckee. i look at this report, it seems hot across the board. is anything that is not inflationary about this? mike: it's hard to do cause-and-effect with some of this because we have

the 2, 2, more bay area companies announcing the layoff today doordash the food delivery app company is eliminating about 1200 corporate jobs or about 6% of its workforce. the company says it hired too many people when delivery demand surged during the pandemic. in the statement, the ceo wrote most of our investments are paying off and well, we've always been disciplined and how we have managed our business and operational metrics. we were not as rigorous as we should have been in managing our team growth affected employees at doordash will receive 17 weeks of compensation and see their february 2023. stock best. all health benefits will continue through march of next year for them. and the ceo of the cryptocurrency company crack and also says 1100 people or 30% of its workforce being laid off in a statement that ceo says we are extremely grateful for the contributions of those impacted by today's announcement and we'll do our best to help them transition to their next opportunity. all impacted cracking nights as they're called have been notified. as of this morning. kraken ceo also

doordash is the latest tech company to announce layoffs.he san francisco based delivery company is eliminating more than 1200 corporate jobs. saying it hired too many people when demand for its services increased during the pandemic, the cuts represent about 6% of its workforce. doordash is hoping the layoffs, along with other cost cutting measures will reduce operating expenses. stocks rallied on wall street today after those remarks by the fed chair on interest rates. the dow is up 737 points that's more than 2. the nasdaq surged more than 4% gaining 484 points in the s and p was up 122. the major indexes ended the month of november with their second straight month of gains, although they remain in the red for the year. congress is urgently moving ahead to head off a looming u. s rail strike. the house passed a bill today that would bind companies and workers. to a proposed settlement that was reached in september that failed to gain the support of all 12 unions involved now goes to the senate for consideration as foxes, madison alworth r

all we've seen in the neighborhood so far, the occasional amazon or doordash van or neighbors that have proved they live in this area. but, again, no sign of sbf himself as things have been quiet. as you mentioned, he was released from new york on $250 million bond and told to be here for house arrest. his next arraignment hearing will be january 3rd. that will be virtual, so it appears, janelle, he will be in this neighborhood for at least a little while. >> okay. yeah, we know a lot about him. he grew up in palo alto. his parents were professors at stanford. what are people in the neighborhood telling you about him or his family? >> reporter: yeah. you know, the family is well known here, and because of the notoriety of what happened with ftx, sam bankman-fried is well known among the stanford crowd. it's not exactly a strong suit that stanford students and faculty are feeling. they tell us they just want this whole thing to be over with. we spoke to some neighbors today and the comments varied. some say they feel bad for all involved and just want stanford to be able to move on. i di

but despite thousands of layoffs at big companies like meta, twitter, and doordash, business professor audrey guo says bay area techies probably won't be jobless for long. >> there are -- they're probably not going to be long-term unemployed. >> reporter: the best way to find a new tech job, follow the money, the vc money. >> these start-ups will be excited to have someone with that in their resume. >> reporter: venture capitalists, still funding tech start-ups, they'll use the money to grow. and as those small companies grow, some good news from all of this. slowing our economy is the reason the federal reserve has been raising interest rates. now with things slowing down, it's likely the fed will slow those rate hikes as well, a sign that after all this time, inflation is coming down. in san jose, scott budman, nbc bay area news. >> all right. scott, thank you. >>> meanwhile, a confession from the man at the center of the growing cryptocurrency scandal. in his first extended live interview, sam bankman-fried, the bay area son of two stanford lawyers, too questions from cnbc at yester

. >> reporter: while media and tech continue to shed jobs, cnn and doordash are the latest companiesnounce major cuts this week. another concern, wages jumped more than expected, leading to fears that high inflation will continue. >> that may lead to additional interest rate hikes from the fed. it's just proving hard to get a handle on inflation. >> reporter: but a gift to consumers, gas prices are down 32 cents since last month and could fall below $3 for christmas, good news for holiday shoppers. >> i look at things and i'm, like, oh my gosh, $20 for that? that makes you look around and try to find the best price you could find because the sales aren't as good as they used to be so you spend more time looking around and being more mindful of what you get people. >> reporter: the national retail federation estimates holiday sales will go up about 8% this year, that's slower growth compared to last year but a higher historical average. norah. >> o'donnell: meg oliver, thank you so much. in georgia, it's the final day of early voting and democrats are spending more than $50 million in

the world, like in the u.s., we have partnered with third-party operators like an uber eats or a doordashght now, we do about $6 billion of sales a year through delivery, which is growing, you know, high teens globally. it's been pretty remarkable. david: another d is digital. you can buy things digitally. how do you do that? chris: so, the app for us, everything is moving to the app. i think for us it's been an interesting evoluon to see where, you know, for years and years, the center of the relationship that we had with the customer was in the physical restaurant, and what we're seeing particularly with gen z and millennials is it's moving to much more of a digital relationship through the app, so, yes, today, in almost every single one of our countries the u.s. being a prime example of that, you can download the mcdonald's app, you can order your products through the app, and an exciting thing we're doing right now this month is we're rolling out loyalty, so, when you buy with the app, you also get loyalty points that you can redeem later for food and other benefits. david: it's your

let's have a look at doordash. shares jumping.rg availing it is cutting 1250 jobs, raining and expenses. this is after a rapid expansion during the pandemic which was a boom for delivery companies. that led to mounting losses. operating costs topped $2 billion in the third quarter. the cuts will affect about 6% of the company's global workforce. haslinda: let's take a look at some of those asian crypto shares on the back of spf. that interview that we saw. red flags in all corners of the empire. in terms of cryptocurrencies, they are stabilizing somewhat. in the broader market, here's how it's looking. gains across the board. a smaller hike in december. there you have it. green across the board. that's it from bloomberg markets asia. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. millions have made the switch from the big three so you ca

. >> doordash's market cap briefly surpassed uber. that a nightmare and he invoked a comparison to yahoo!. how do you respond to that? >> i would not put any credence to that former executive. if you look at our volumes, our volumes are twice as high as doordash's. we are growing faster and based on third-party better, are uber eats business is the fastest growing delivery platform in the u.s. we are confident to where we are going and this is the point in time in terms of relative pocket caps off that i don't think you will see again. >> doordash is getting into alcohol delivery. we saw the partnership with albertson's but when will we see your roastery efforts scale up and bear fruit -- roastery efforts -- grocery efforts scale up and bear fruit? >> and makes a lot of sense for us to follow us there and as far as grocery goes, we have focused outside the u.s. first. we think we can be the winner in latin america which is quarter shop's home turf and we are aggressively expanding grocery in france and u.k. and taiwan and australia an

( laughter ) doordash? these scandals have taken a toll on the former president's popularity.republicans, it's gone from "maga!" to "mag-ehh." ( laughter ) and now some republicans are gearing up to challenge him. former national security adviser john bolton-- remember that guy? that guy says that if g.o.p. candidates won't denounce the ex-president, "i'm going to seriously consider getting in." makes sense. bolton already looks like a president... from 1886. ( laughter ) ( applause ) "that's right! that's right! if elected, all voters will receive a bolt of calico, a late-model butter-churn, and a kick from a handsome horse!" ( laughter ) there's a big story-- in character... not in character. ( laughter ) i do very deep work. there's a big story out of peru, because yesterday, peru's president was impeached and arrested after he tried to dissolve congress. so, you can take immediate action against a president who attacks congress? i thought you had to dither about it for two years until he has dinner with nazis and then still not do anything! the presidential-- ( cheers and

. >> other apps, like doordash, if there is a problem, they get to it right away.ok at social media platforms, we are the product. >> the hope is better partnership can be fostered as easily and effectively as possible. >> they will listen and work with us on a solution that maybe we don't need i tyill listen and work with us on a solution, the maybe we don't need. >> as cases of covid and rsv and the flu rise, so do numbers of people in tents. detect this: living with hiv, i learned i can stay undetectable with fewer medicines. that's why i switched to dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. detect this: no other complete hiv pill uses fewer medicines to help keep you undetectable than dovato. detect this: most hiv pills contain dovato is as effective with just 2. research shows people who take hiv treatment as prescribed and get to and stay undetectable can no longer transmit hiv through sex. don't take dovato if you're allergic to its ingredients, or if you take dofetilide. taking dovato with d

december 19th, that's when the babies were allegedly kidnapped, because their mother, she was a doordasho get food for a minute, came out, the car was gone, the babies were gone. early morning hours of december 20th. kayer was found abandoned out on the side of the road at the dayton airport, but where kayson? according to the "indianapolis star" there was a woman 175 miles away, named cheyenne delmar. she started interacting with a woman, drove in cheyenne's car, thought nothing of it, but later on the in the day, she saw this kidnapping suspect everyone is talking about, and the two babies are gone. she went to her cousin, mecca curry, and she said, i just talked to that woman, she's in indianapolis. they arranged that they would meet her, the alleged kidnapper, call in police. they did, and there was an arrest. however, where is the baby? he's not there. the two cousins decided that they are found the woman, the alleged suspect had left a bus schedule in the car that they were helping we are with, and so they went to all the these bus stations to see if they could find the abandoned c

maria: you have online food ordering open doordash, expenses grew too quickly.yees offered 17-week severance and 2023 vesting the stock. this is one of many companies that have announced layoffs. how much pain are we going to see before we actually get to where the fed wants? >> i would say that the place the fed has done their job the best thus far is through the trillions of dollars of wealth destruction in these duration assets. so when we think about the technology companies and the pullback in those valuations, how bad is it going to get, how far are we going to say the systematic layoffs ripple through the economy. this is just probably the beginning. we are just starting to see it focus first and then trickle through because they cannot handle the regulation. maria: predictions of a dire weakening story in 2023 and yet the president says everything is going well, the economy is doing great and yet people getting laid off into the holidays. mark: the only thing he can point to that the unemployment is 3.7% which is pretty good but here is the thing. the fe

the whole -- that whole elite group of the doordashs and the airbnbs and the ubers, lyft, they're allsure they're also part of the mockery of the sham of the retail investor, and i know i believed -- i believe in airbnb, but the prices are coming back to where we thought they'd be before the pandemic. before things got really exciting >> right >> and i think it's very hard for the individual investor to adjust to the losses i think they'll change behavior, because the losses i think that powell should recognize that he's winning in one area, which is the declines in the stock market. >> so, you would not be -- you wouldn't be going into the new year with a fresh long on airbnb >> i like it i think airbnb -- when i talked to brian chesky, brian chesky was on my show, the ceo of airbnb, and he said nothing about how the high end was not traveling. and somehow, his interview was interpreted as saying that i went back to brian, and he said, that's just not true just don't -- it's just not a fair analysis. so, i do believe in airbnb i actually would own the stock of airbnb. i do not own it

>> well, those -- doordash, grubhub, et cetera, take a really big piece of the pie.staurant -- you know, in an industry where the profit margin pre-pandemic was maybe only 8% on a good day, if you have a company like that taking 20, 30% off the top, you really can't make a profit that way. so a lot of restaurant chains have been savvy enough to say, okay, people want delivery but i can't make money using these third party services, i'm going to develop my own. and the independent often just doesn't have the deep pockets to do that, to have that front end expense or, you know, a fleet of cars to do the delivery. so we're seeing a real shift there in who's able to do that. >> that's so hard because those are sometimes the most -- you know, the restaurants closest to your heart, the ones coziest and feel the most personal. that's a tough loss for diners. >> how has inflation lost food prices. you talked about how thin the margin was. you have inflation, fewer diners. how is this all playing o you the? >> as we've all experienced, grocery stores, the prices have gone up

they will send people to work from doordash here. >> there is a misconception that the bay area is wealthy reporter: there are many struggling to pay for food, rent, and utility bills. >> you need this for yourself? my guess. >> jeannie diapers? >> yes. >> reporter: some people walk up to the warehouse, hearing about the pantry. >> when we first moved to california, my husband and my kids and i, we lived in hayward. from our apartment complex, we do not have a car first. we would walk to the grocery store. as we were walking out of the bridge on jackson street, there are a lot of homeless people. i think it forever impacted my kids. >> reporter: i don't know how she does it. she works with a smile. she helps with a smile. there are a lot of people that need help. >> reporter: everybody volunteers with a smile on their faces. >> this is what it is all about. >> reporter: they are working together to bring essentials that are desperately needed. >>> we hope you will consider donating time or money for the food for families bay area drive. you can scan the qr code on the screen, or go to our

kumasi:-- kumasi: doordash adding to the layoffs. off more than 1200 corporate employees, about 6% of staff. they say recent inflation has lowered demand. shares have gone down more than 60% this year. other bay area companies like meta and twitter have also made major cuts this year. reggie: the san francisco city council has made changes that could change the look of downtown. the projects could bring over 900 residential units and 600,000 square feet of office, retail and restaurant space. they include three new high-rise buildings. this is in addition to google's downtown west project and the new high-rise adobe is moving forward with. another setback in the effort for president biden to revive the student loan part -- forgiveness program. they have rejected the request to let the program move forward during the appeal. the justice department is considering if the case should be taken to the supreme court. the program would offer up to $20,000 of debt relief to millions of borrowers. remembering the lives of four idaho college st

that's despite the fact that weave heard of a wave of lay-offs in tech and media, amc, twitter, doordashuncing big lay-offs. the fact that claims are still low, it's that a lot of other companies are reluctant to let go of the workers they have right now. if i owned a business, i wouldn't want to let go of workers because there's a worker shortage right now. >> okay. but the market, not a great end. >> no, not a great end to a really bad year. u.s. markets are on track for their worst year since 2008. the nasdaq actually just closed yesterday at its lowest level since july 2020. there's been some crazy losses of market value for some of the major companies that we know, apple, amazon, alphabet. all of them down by more than $800 billion so far this year. that's how much market value they lost. don't look at your 401(k)s. you won't be happy with what you see. >> i never do. i know i should. >> you shouldn't look at it too much and shouldn't react to it. we should remind people the stock market, of course, is not the economy. i do think this is painful for main street because a lot of us d

same for hp, snap and doordash. the reason why this is called a white collar jobs recession, despite being down, the dow jones industrials managed to rally in the final hour of trade. that marks two straight weeks of gains for wall street. so something positive on this friday heading into the weekend. back to you. >> charles: monster reversal on the markets. thanks, susan. of course president biden will crow about this number. just beat wall street expectations, folks. it wasn't that great. let's go to peter doocy at the white house with more. peter? >> charles, you guessed it. inflation still high. the president sees plenty of evidence that his economic plan is working. >> the economic report, the gdp is up more than it was previously thought. we continue to create jobs, lots of jobs. today we've learned that the economy added 263,000 jobs in november. now we've created 10.5 million jobs since i took office. more than any administration in history at this point in a presidency. 750,000 of them are domestic manufact

. >> reporter: in recent weeks, amazon, doordash, meta, cbs news parent company paramount and pepsi havealk to business leaders, they say we're preparing for a recession. so some have said to me, ask the treasury secretary, what does she know that we don't know? >> well, economic growth is slowing substantially and businesses see that. look, we had a very rapid recovery from the pandemic. economic growth was very high. and there was a surge in hiring, put people back to work. we got people back to work. c we have a healthy labor market to bring down inflation and because almost everybody who wants a job has a job, growth has to slow. >> reporter: when you say growth has to slow, that means hiring? >> we are at or beyond full employment. and so, it is not necessary for the economy to grow as rapidly as it has been growing to put people back to work. >> reporter: janet yellen has spent her career in economics, focussed on putting people to work. as head of the san francisco federal reserve in 2009 the middle of the great recession, she gave her staff some memorable marching orders. >> i tr

we have a partnership with doordash. they will send them to that site.to them. >> reporter: she says there is a misconception that the bay area is wealthy. some parts of the bay are, there are many struggling to pay for food, rent, and utility bills. >> you need food for yourself? >> yes. >> you need diapers? >> yes. >> reporter: when we first moved to california, my husband and my kids and i, we lived in hayward. >> from our apartment complex, we did not have a car at first. we would walk to the grocery store. as we were walking onto the bridge on jackson street, there is a lot of homeless people. i think that forever impacted my kids. is mack i don't know how she does it. she works with a smile. she helps with a smile. there is a lot of people that need help.[ laughter ] >> reporter: everybody wi a smile on their faces. >> reporter: this is what it is all about. >> reporter: working together bring essentials that are desperately needed. >>> consider donating time or money to the food for bay area families drive. you can scan the qr code on the bottom o

. >> other platforms like doordash, they have options where you can talk to someone right away.at the social media we are not the customers. reporter: the hope is better partnership can be fostered as easily and effectively as possible, and they will listen and work with us on a solution that maybe we do not lead legislation. liz: still to come, a promise by elon musk to clean up the hate. a look at the trends on twitter since he took over. ♪ hi, i'm debra. i'm from colorado. i've been married to my high school sweetheart for 35 years. i'm a mother of four-- always busy. i was starting to feel a little foggy. just didn't feel like things were as sharp as i knew they once were. i heard about prevagen and then i started taking it about two years now. started noticing things a little sharper, a little clearer. i feel like it's kept me on my game. i'm able to remember things. i'd say give it a try. prevagen. healthier brain. better life. liz: good morning. thanks for joining us. lisa: see the radar behind us, we are tracking rain. cold air still in place. highs today are chilly with

for the tech sector with companies laying off thousands of workers, just today delivery service doordash more than 1200 corporate workers would be let go. overall, nbc news estimates 90,000 workers have been laid off at tech companies with workforces of 100 or more. back with us tonight, the woman who knows tech better than anyone else on the planet, my dear friend -- editor at large of new york magazine, and host of the podcast -- kara, always amazing to see you, let's start with the layoffs. for the last decade, tech has been the sector, it was endless hiring, not just hiring anybody, the smartest, top talent was flooding to tech. what is going on? >> well, they got too big, right? over the course of the pandemic they really, groupings there was an opportunity for their businesses, their businesses and stop grew like crazy. they hired, up amazon hired 500,000 people, overall a lot of them in warehouses, but a lot of people. each of these companies could afford, it when things were going well, now that there is a downturn whether advertising at meta, or something at google, et cetera, t

that's the voter approved says gig workers for uber lyft doordash.ivery services are independent contractors, not employees. that means state labor laws, including minimum wage overtime and paid sick leave. don't have to prop 22 is unconstitutional, but the companies are appealing that decision. time is 7 27 scammers . they're everywhere this holiday season and you may have been among the people getting emails promising a free $325 yeti cooler like this still to come. what you should know if you have been a part of this online scam. and it's been one month since four college students in idaho were attacked and killed in their home. the one piece of evidence investigators hope could help them solve the case. ♪ this is how it feels to du more with less asthma... ...thanks to dupixent. dupixent is not for sudden breathing problems. it's an add-on treatment for specific types of moderate-to-severe asthma. and can help improve lung function for better breathing in as little as two weeks. dupixent helps prevent asthma attacks... and can even reduce or elim

doordash the latest tech company to announce layoffs .co based company eliminating more than 1200 corporate jobs, saying it hired too many people when demand for its services increased during the pandemic. the cuts represent about 6% of the food delivery staff. doordash is hoping the layoffs, along with other cost cutting measures will reduce operating expenses. a six month pilot program. testing out a four day work week has wrapped up and the results are promising. the research involved 30 different companiesstaff an extra day off each week with no pay reduction. in return research found the company's experienced increased revenue and fewer absences. workers reported feeling less stressed than having improved mental and physical health. i asked, sleeping more. they are less stressed exercising more. and they're doing a lot of the things that we need as humans. to be more whole. so when we come to work, where are the best people we can be at work and the best people we can be at home. all the companies in the pilot program founded so succ

doordash is adding to tech layoffs as the bay area. they say they will lay off corporate employees.say recent inflation has significantly lowered demand. shares have gone down more than 60% this year. other bay area operations such as mita -- meta and twitter also have experience layoffs. larry: real workers have asked -- rail workers expected to walk off the job as early as next week. the biden administration making new commitments to native american nations. president biden announced commitments during the government's first in-person summit in six years including new uniform standards for federal agencies to consult with tribes, a plan to revitalize native-language's, and new efforts to strengthen the travel rights outlined in existing treaties with the federal government. >> we're ushering in a new era and advancing away from the federal government to work with tribal nations, and it starts by appointing indigenous people to lead in my administration. kristen: get those umbrellas out, right? you are going to need them. larry: absolutely. a big storm coming. sandhya: it is welcom

. >> 10,000 at microsoft, sales force, doordash, go on and on for 20 minutes. got a serious issue in the broader economy like in housing. which is already in a recession. but mark, a gallup poll reveals 5% of adults -- 55% of adults are face aing financial hardship as prices skyrocket on everything, up more than 10% since november of last year. >> i'm surprised it's not higher than that, honestly. we talked about this last hour, maria. we talked about the bifurcation we're seeing amongst consumers where the lower income consumers are le really feeling the pain, higher income consumers are still doing okay. when you look at that 55% number and you kind of break it down, 77% of lower income households are feeling that hardship due to rising prices whereas upper income is 42 which is still high but it's a heck of a lot lower than 77. and that's the problem you experience when you've got cpi growing at over 7%. i think the last read was 7.7 and wages are growing at 5%. so wages aren't keeping up which means quality of life is being eroded and to davided point the n

doordash and uber are part this service to get treatment to the people who needed.reens has more than 8000 locations offering same-day delivery. all you need is a prescription from your health care provider. reggie: we are learning about new threats to our nation's power grid on the west coast. five substations reported physical attacks. the power companies are not saying how the attacks work. out but one briefly current electricity to customers outside portland. this comes after officials in north carolina say a gunman shut up two facilities saturday leaving entire accounts without power. authorities are offering a $75,000 award in the south carolina investigation. gas prices have dropped. here is what the average prices look like. in oakland, it will cost you $4.62 for a gallon of regular gas. in san jose, $4.63. in san francisco, $4.72. lena howland is life where -- is live in concord where we are saying low prices. lena: this national gas station isn't selling some of the cheapest gas we can find in the entire state at $3.49 a gas prices across the state are low

the mom was a delivery driver for doordash.me back and there were no babies in the car. show had 5 month old twins. obviously, the police got ahold of that. the very next morning, december 20th, early morning hours, one of the babies, kyair thomass was found at the international dayton airport, 70 miles away. where is the other baby, kason thomass? separate and distinct, there was a woman in indianapolis, and this is according to the "indianapolis star". she met a woman, had interactions, drove the woman in her car, got her phone number. she goes home, she sees it all over the news about these two babies abducted 175 miles away. she gets her cousin, she says, i've talked to the woman today. they arranged that they would meet the woman, have the police move in and arrest her. that happened. but there was still a question, where is the other baby? so the cousins decided they were going to go from bus stop to bus stop because the kidnapping suspect, noella jackson, had actually left a bus map in the car. they didn't find the car b