i like evan spiegel and tim cook i want to talk about tough issues with him. it's mostly people that don't drive me crazy. >> the collective market value at this point of time is in the trillions of dollars that's interesting when you started with sundar and he talked about making it 20% more efficient. the stakes are so much higher this year. >> absolutely. the tech is coming out of this pandemic period where they soared i talked about that many years ago. now it's a reckoning moment. i don't mean a reckoning in that oh-no kind of thing. they're enormously powerful. i wanted to lean into the future rather than litigate a lot of things from the past we had senator amy klobuchar here talking about legislation i thought she did a tremendous interview. andy jassy is here i interviewed him before last time i did he wasn't ceo. i've had a long relationship with him a lot of people i've had long, long relationships before they were trillion-dollar companies. >> tim cook, what a moment to get him. basically off the stage in cupertino, getting on an airplane and comin

evan spiegel laid out a turnaround plan for the company yesterday and plans to grow users by 30% foron of activity. mike has the action. mike? >> snapping up stock options in snap, the sixth busiest option, the busiest options were actually the weekly 12 straight calls but those were only a day trade because they expire tomorrow. i was looking at an institutional purchase of 5000 of the 12 calls, buyer paid $2.10 for that, that the buyer is betting that snap shares could be at least 13% higher by the third friday in november. >> are you surprised that the rally continued? >> not really. evan spiegel spoke at code yesterday after we did the show, after we talked about it and addressed some of those growth prospects they put out internally that we discussed on the show a bit and i think the audience really liked it. so, again, i think she is laying out a gauntlet, here. basically, they cut staff, they've cut projects that are not important to them, and they are really focused. those targets, for 20% revenue growth and 30% user growth, those are not going to be easy to achieve. if they

in a company memo, ceo evan spiegel said it will focus on three areas — community growth, revenue growthy of losses, and leading the way is the tech sector. in fact, the nasdaq — which is an index that has a lot of technology companies — has dropped 5% in the month of august. for months, tech companies have been warning about hiring freezes, lay—offs, and other cost—cutting measures. stay with us on bbc news, still to come... when working from home is just too expensive. could soaring energy bills drive a mass return to the office — for the first time since the pandemic? she received the nobel peace prize for her work with the poor and the dying in india's slums. the head of the catholic church said mother teresa was a wonderful example of how to help people in need. we have to identify the bodies, then arrange the coffins and take them back home. parents are waiting, and wives are waiting. hostages appeared — some carried, some running — trying to escape the nightmare behind them. britain lost a princess today. described by all to whom she i reached out as "irreplaceable", an early morn

guys >> i'm thinking about meta relative to what say evan spiegel told us at code about the mow macro said it's going to be tough sledding from here but they have different views on what the metaverse is going to mean and what it's going to be. >> yeah. evan was clear he doesn't want to be part of the future virtual world. he wants to create augmented reality tools that are useful for the real world where mark zuckerberg is betting on the eight to ten year vision where people want to live part of their lives in the virtual world, investing in virtual goods, entertainment, et cetera. different visions. >> thanks for that breakdown, julia. >>> up next, masa son may have a new vision, this time he could be narrowing on opportunity here in the u.s that story after qckre aui bak - yieldstreet presents: alternative investing with kal penn and older kal penn. - oh, the stock market is doing that fun thing again. - hey news from the future, you're going to live through that about 10 more times. (laughs) - oh, it's no stress. i just discovered yieldstreet. they vet investments that don't ride

you don't want to miss evans spiegel and then aaron levy from the tech conference tomorrow.d and they will be broadcasting live there tomorrow and all week. coming up, the final trades. a new way to transform our agency. strategy to execution. oh, looks my laces have come undone. a business card? yes, for ey. tech expertise? $2.5 billion invested. impressive. okay, you've convinced me, i'm back. just gonna... get this... this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> you can't compare and by stocks trading >>> final trade is sponsored by interactive brokers. the professional gateway to the worlds markets. >>> time now for final trades. dan nathan. >> rivian at 40. >> tim, delta airlines. >> seems counter intuitive but i sold some sp

company recently announced it's laying off about 20% of its staff as this struggled to compete evan spiegelmorning said the changes are painful, but necessary. >> we wanted to make sure, because we're so focused on building or business over the long term and really serving our community, we wanted to make sure we could generate cash even in a environment where our revenue didn't grow. these are painful changes, but they're all about ensuring our long-term success. you wonder, with the stock down 77%, it's a question of long-term survivsurvival >> brian, good to see with you i was going to say the same thing. i want to root for them. i think they're doing the right thing, but nowi a total show-me story there's the ios privacy changes, which has really hit a bunch of folks, snap not least, but finally the competition, so they're taking the bold steps, laying off 20% of the workforce, but risk/reward is skewed here i don't care about valuation or how much it's down ritz too early to go here >> there something they could do to change it >> no, no, look, they're doing the right things, but they

that's starting tomorrow tim cook, andy jassy, evan spiegel.erence the next week talking to another cohort of ceos carl from enterprise to consumer we're going to have you covered. >> pretty amazing between the apple event, powell on thursday, ecv this week. let's get to the half. >>> welcome, everybody tech troubles. the nasdaq flirting with its seventh consecutive loss the investment committee joining me this hour, kari firestone and josh brown what the markets are doing at 12:00 noon in the east we've had another reversal we're positive for the majors. the ten-year note yield, one to watch today. we're at

. >> evan spiegel. >> when you have inflation running this hot the paths forward are really difficulthat can tech do that's good? they can solve problems. >> health care in this country is [ bleep ] up and the pricing for medication is even worse, here's a way for us to change a huge problem and make people's lives better. >> aviators on always. >> i can't believe ray-ban is partnering in facebook and not kara swisher that's okay. >> that's a wrap from code it's been a busy few days. >> it's not over, world domination is next >>> that was code '22. jon, you and dee are heading to goldmans next week cost discipline was one, revisiting business models and valuations, and then i would argue a fair amount of anxiety, especially in media, and that's what iger really got it's not just about communications in media, it's also about tech and enterprise tech, and i talked to a number of leaders there, and i expect to get a more granular look at some of the zscaler type drivers we've been talking about on the program today, carl. >> that's interesting. you know, a big part of the conversation,

. >> evan spiegel is talking tonight, as i understand it.gressive. 20% by the end of next year? >> the street was basically a 15% revenue growth and they want to go users, this is the big one, by 30% by the end of next year. they want to make up some of that advertising differential between the consensus, with ar based advertising, that is broken here today, that is a very interesting story, especially if you think back to last week when they announced all the restructurings, they cut 20% of their workforce, that is a tough row to hoe, when you think about doing all of that with fewer employees, but maybe this increased focus is one of the things. it will be really interesting to see, a bit of a product genius. are there any tricks up his sleeve as it relates to new products, dragging some of these users back to tiktok, or time spent on snap, maybe that is the answer. >> for more on this, let's bring in gene munster, great to see you. if tiktok went away for whatever reason, a u.s. ban or whatnot, with a lot of tech problems result? >> i hav