coming up, ceo evan spiegel joins us fresh off the company's investor day where snap unveiled its road map for user growth dow down 202 you're watching "closing bell" on cnbc. ♪ at morgan stanley, we see the world with the wonder of new eyes, ♪ helping you discover untapped possibilities and relentlessly working with you to make them real. ♪ because grit and vision working in lockstep ♪ puts you on the path to your full potential. ♪ now adt professionally installs google nest products... cool. you're all set. so your home is safe and smart. we're gunna miss you. you can check in on your home. arm the system, we should go. manage your system from virtually anywhere. (thump) (scream) and get intelligent alerts, like when a package has arrived. - bye. have a good night. -boo! when the most trusted name in home security adds the intelligence of google, you have a home with no worries. brought to you by adt. >>> look at shares of manchester united moving sharply higher in the last few minutes as qatari investors prepare $6 billion opening bid for the soccer club according to bloomberg it's

here's what evan spiegel had to say earlier on "closing bell." >> when you're talking to leaders aboutalf of the year, i think folks are hopeful the economic environment will stabilize, but i think based on the much lower comps that makes folks more optimistic. >> so should investors buy into nap's optimism dan, it seems like a steep trajectory >> listen, they put out -- >> they have done this before. >> but that was on the user side on a gap basis, this company since it went public in 2017, has never been profitable. sooner or later you have to say to yourself, is this a legitimate stand did i alone company. i think there will be strategic m&a, companies that can buy an asset like this. left on their own devices, they're just going to kind of dwindle away they have to better monetize the users. there it is, look at that. i find it interesting. evan spiegel seems like a good steward, even if he can't make a profit. >> in an anticompetitive, antitrust era, who will buy snap guy, who could buy snap? everything is getting blocked or attempting to block deals? >> dan could wax poetic as to

i mean, the last time that evan spiegel did that and set out those long-term targets just to take themors supposed to believe anything coming out of this today >> reporter: well, look, the market has changed dramatically the last two years or so since snap did one of these investor days, but i think what we're going to be looking for in this presentation that starts in just a couple of minutes is a sense of what they see their differentiation to be. we see meta continuing to grow, to benefit from the scale. but snap is really a different product. it's more about curated premium content. how are they use thing that to strengthen their relationship with customers and to generate even more revenue. i think that demographic they have is unique and the question is just how big can their user base get if it is very different from the sort of broader user base that is meta's and then what's their outlook for the ad market we were talking how everyone sees the ad market but there is an expectation of a rebound in the second half of the year. you can turn those ads on and off with the click of

we have an exclusive interview with evan spiegel coming up in the 3:00 p.m. get the headlines now with seema mody. >>> one or more unnamed witnesses who testified investigating possible interference in the state's 2020 election may have committed perjury and should be indicted if there is enough evidence to support prosecution. that's what the panel says in a section of its report publicly released today the grand jury says it found no evidence of significant fraud in the balloting. >>> utah senator mitt romney saying former president trump, in his words, by far the most likely to become our nominee and the only way to stop him is the party to rally around his opponent in a two-person race. >>> and after six years on the show ryan seacrest is leaving abc's "live with kelly and ryan" saying working with kelly ripa has been a dream job her husband will be her new co-host. how about that back to you. >>> up next, our "call of the day," a debate on how to play the top-performing semistock ahead of earnings next week. we are celebrating black history through our t

navigate new apple privacy policies that have totally upended its advertising models here's snap ceo evan spiegeln the call last night. >> it's not improved, but it's not gotten worse our direct response business continued to grow in q4. it seems like our partners are manageling their spend very cautiously so they can react quickly to any changes in the environment. >> and, frank, it's not just revenue. snap is frafgt weekly and daily users. even without today let's move, snap shares are down 80% in the past 12 months weakness at snapchat dragging them down. meta is set to report results after the close today, frank so we'll be watching. >> something to really watch starting the year up more than 20%, meta. snapchat, we're seeing the big dive, but still up 10% certainly something to watch we'll see you later in the show. >>> turning our attention to the nation's capitol and the developing story as president biden gets set to host kevin mccarthy for a one-on-one meeting. brie jackson with more good morning, brie a lot of talk between these two through the media. what's on the agenda >> reporter: g

pre-apple privacy days is when life was a lot easier for advertisers the silicone valley joke is evan spiegelest product developer. snap announced its own ai integration just a few hours before zuckerberg did yesterday. my ai is their own chat bot within its subscription service, plus adam spiegel here -- >> there's just one more thing i want to mention, zoom, stock is down 86% since its pandemic high here is the cfo on "squawk box." >> we are absolutely making investments. one of the most recent acquisitions was solvy, which accelerated our development. >> and why not it detracts from the growth issue, and there's a potentially huge opportunity here. we talked about burnstein sizing the eye-popping revenue opportunity for nvidia >> okay, did you see what sam said about the snap announcement yesterday? they're basically saying, on snap, you can interact with ai i finally get it access to it. sam's point was, we should have ai be commenting on everybody's social media post to tell us how wonderful we are and how brilliant our content is, and then wow, wouldn't that make us all feel great i can

interestingly, we heard a question about this asked to evan spiegel last night on the snap call, and he said, we see huge opportunity in generative ai and this idea of having more interactive conversations with effectively a bot. i think that this is something that we're sure to hear about on the meta call today. they're going to say, we're already using ai and machine learning to target ads, but there's more opportunity ahead there's no question that chatgpt has started a very intense conversation that's going to be continued through all the big earnings this week, including google on thursday >> indeed, but the hype meter is going off a little bit like, that metaverse hype meter that got me nervous, you know, the little tick that i had going last year and the year before. >> the hype meter. that's why we have to be careful to talk about ai ai has already been in use for many, many years the question is just this generative ai, what the potential is there >> exactly julia, thanks. let's turn now to the earnings reports that could decide the fate of this rally in the next couple of d

>> i think we heard yesterday from the snap ceo, evan spiegel, he feels like although he has not reallynd and digital advertising spend, he is seeing it not get worse. i think that aligns with what we heard today for meta. it's been a painful period, but we may see some recovery or at least some more predictability this year from these companies. >> sarah frier there, who leads our technology coverage in san francisco. coming up next -- the former atlanta fed president tells us what he thinks the fed's made a balanced and measured decision, slowing the pace of hikes. we get more on jay powell's comments, head. this is bloomberg. ♪ science proves quality sleep is vital to your mental, emotional, and physical health. and we know 80% of couples sleep too hot or too cold. introducing the new sleep number climate360 smart bed. the only smart bed in the world that actively cools, warms, and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. >> we continue to anticipate that ongoing increases will

managing their spend very cautiously, so they can react quickly to any changes in the environment >> evan spiegelnight talking about snap and the ad market. jim, we know that digital ads are something you can do on the flip of a switch >> yeah, i think that, look, i can't be sanguine. advertising's the first thing that companies cut back when things get tough, and i don't think they cut back and therefore shift -- this is what i thought that i was wrong i felt that last time snap reported and it was bad, remember, it's had very little impact from meta's stock and on google what i thought was the problem was snap turned out to be the problem was industrywide and i don't think things have gotten better along those lines. i think advertising's being cut everywhere, including on the web. >> you rarely like to go into earnings prints with the stocks hot. >> right. >> but meta has gone from 88 to 150. >> i think meta is an example of the one person who really runs a company, who is, i think, chosen behind the scenes to spend a little less time on the metaverse and more on the near term, the firings the

miranda opening up sharing details about the bond she and evan spiegel share with her friend and ex-husband be harmonious, and you can be super kind. >> the benefits for these kids are spectacular. to see these two women, not only get along, but adore each other is fantastic for both flynn and daisy. for them to see this family be united, for there to not be tension and conflict. for there to be all this positive energy is really great for them and makes the whole divorce blended family thing way less stressful. >> reporter: katy said it's like i gained another sister, one with whom i usually sidebar from the main family chat and agree with. linsey? >> thank you. >>> now to a new study about long-term consequences of screen time for kids finding that babies using tablets and phones could impact their later performance in school. our chief medical correspondent dr. jen ashton is here. good morning. >> good morning. >> tell us about the study and what the findings are. >> listen this, is going to get a lot of ears and eyes on it understandably so. just published in the "jama pediatrics," this

and trying to get some direction around where snap is going, they're going to be disappointed evan spiegeldvertising demand hasn't really returned, but it hasn't gotten much worse either. they have obviously guided down for the quarter, but i think it is symbolic of overall economic caution and head winds and i have been bullish for snap since the disastrous july earnings report last year because i do think this is a company positioned for the long-term, and i think they are being correctly cautious about trying to forecast where the overall advertising market is going to go and i do think this is going to be a big week and i think meta's earnings is going to be the next big show of is everyone being this cautious about where the ad market going or are some companies actually able to become bullish. >> so, before we jump to the conclusion that this is a macro story, what about the fact that as this benchmark analyst is saying, at its core snap's return on ad spend has never been competitive >> i think for every social media advertising-driven company, we are now at the point, it has been a