emily: how do you recruit teachers when they could be making money at facebook or google? get teachers to learn computer science. we are one of the biggest workforce retraining operators in the country. emily: how do you convince schools who are already resource strapped to add these courses? >> the teachers are already in the schools. the math teacher, english teacher, science teacher, they see our schools should be doing this. the oakland teacher who asked, why isn't oakland doing computer science? she learned on her own and taught a class. she wanted it to be in every school in oakland, so she came to code.org. we trained every district. two years later, every district teaches computer science. emily: what are the challenges that remain? >> funding is hard as well. we are a nonprofit. we are funded by the same tech companies that i believe should be fixing a lot of the gender issues in tech, so we are part of the solution. those same companies should get credit for the work that we do. amazon, facebook, and microsoft are our three largest donors. when we are bringing 12

francine: you could be talking to facebook or google.n't mean it is a car manufacturer that brings this kind of technology? francesco: no, but manufacturers have the know-how to mass produce things. the real advantage here is do you know how to mass produce millions and millions of vehicles in the right way, in the less expensive way, the most safe way? i think that is a know-how you build over decades, and they have that. francine: what is the number one question for your innovation hubs? is it batteries? is it storage? francesco: no, it is more about predictability and handling capabilities. what can we do with the data we have, how much can we explain things, how much can we predict things looking at the data? today, and probably in the next years, the most important key or the most important capability we lack is that, the capability to put together a business concept and data analytics in the same brain, really difficult. francine: do you think anyone will build new gas power plants, or is that a thing of the past? francesco: no, th

grown by leaps and trading at valuation multiples that are not normal, and in a company like facebook or googleple, which are trading it relatively modest valuation multiples for companies of their size and growth rates and profits. that's a little bit of the difficulty of making broadbrush arguments about big tech, that there's a pretty big distinction between the unsustainable valuations of companies like netflix and amazon and the valuations of companies like alphabet and apple. what's interesting is the cover e.u. privacy laws have so far seemed to help rather than hurt google and they've hurt smaller players that it had trouble becoming gdp are compliant. i asked the olivet ceo about this in a phone call before the conference call, and she said it's too early to tell what the impact will be, but from the outside, what does it appear -- how does it appear the new regulations will actually impact these companies one way or another? it seems to be the effect e.u. did not realize it was going to have, when it major that key companies, when they do theyfic advertising that get an agreement that

emily: how do you recruit teachers when they could be making money at facebook or google?we don't get computer scientists to become teachers, we get teachers to learn computer science. by far, one of the largest retraining operators in the country now. emily: how do you convince schools who are already resource strapped to add these courses? and these teachers? >> the teachers are convincing their schools. emily: so they're already working in the schools? adi: yes, they're already working in the school, it is the math teacher, english teacher, science teacher, they see our drills, and they realize, our school should be doing this. the oakland teacher who asked, why isn't oakland doing computer science? the first teacher there, her name is claire, she taught herself computer science on her own and started to teach a class. but she wanted it to be in every school in oakland, so she came to code.org. and we said, but will train one teacher in every school and every district. two years later, every district teaches computer science. emily: what are the challenges that remain?

and bounds, are trading at valuation multiples that are not normal, and then a company like facebook or googleple, which are trading at relatively modest valuation multiples for companies of their size and growth rates and profits. that's a little bit of the difficulty of making broadbrush arguments about big tech, that there's a pretty big distinction between the unsustainable valuations of companies like netflix and amazon and the valuations of companies like alphabet and apple. caroline, what is interesting is the tougher e.u. privacy laws have so far seemed to help rather than hurt google and they hurt smaller players that have had trouble becoming gdpr compliant. i asked the olivet ceo about this in a phone call before the conference call, and she said it's too early to tell what the impact will be, but from the outside, from your approach, how does it appear these new regulations will actually impact these companies one way or another? >> it seems to be the effect the e.u. did not realize it was going to have, when it major -- it made sure that key companies, when they do specific advert

and fedex it and these things were clearly transformative but it was hard to actually predict facebook or google back in one thousand nine hundred five one six there were pets dot com and a million on the things so we're at a similar kind of. place in block chain. where we are instead of disrupting sort of the world of media with disrupting the world value and transactions of value it is all of us that there is as profound a change coming as there was in that world. we're at an inflection point are actually a couple of inflection points in the digital assets story we have this kind of future the way heading towards where. you know everything is tokenized and you know your self driving car is going to be negotiating with a eyeball on the market to buy right of way to get into the fost lane on the freeway this sort of saif i stuff is maybe five ten years away from us at this pace of change right now we just at the point where the market infrastructure is starting to get solid enough to be attracting major institutions into the space the. we've seen them in the last year. there was a flash crash on

and fedex it and these things were clearly transformative but it was hard to actually predict facebook or google back in one thousand nine hundred five one six there were pets dot com and a million on the things so we're at a similar kind of. place in block chain. where we are instead of disrupting sort of the world of media with disrupting the world value and transactions of value it is all of us that there is as profound a change coming as there was in that world. we're at an inflection point a couple of inflection points in the digital asset story we have this kind of future that we're heading towards where. you know everything is tokenized and you know your self driving car is going to be negotiating with a i bought on the market to buy right of way to get into the fost lane on the freeway this sort of saif i stuff is maybe five ten years away from us at this pace of change and right now we just at the point where the market infrastructure is starting to get solid enough to be attracting major institutions into the space the. we've seen in the last year. there was a flash crash on one of the

they still were a big important company, but some of these other companies like facebook or google orrated colossally. >> it is quarterly earnings season in corporate america. today amazon.com, the online book seller, reported that its earnings more than doubled in the last three months. >> the economy seems to be crashing all around us. what can the people who are now trying to fix what's broken learn from your experience at amazon? >> i would say think long term. >> i think the reason that these companies like amazon, apple and google survived was because they unlocked this whole new engine of innovation. >> one of the big motivating factors for us is just creating something that we all want ourselves. >> technology and technology companies became the preeminent force in the business world. something that had started small really started to fulfill its destiny as a major disruptive change across many different industries. >> now with more than a billion searches performed every day plus google images, google maps, google books, google finance, gmail and youtube, the company share of

incredible to me in china, you can't access facebook or google or twitter.t boggles the mind, right, they have shut off u.s.-based websites. >> i was there has week. i was very surprised. you try to doing -- google any big company, they block it. we haven't punished them for it. trish: my question to you, michael, why, why nobody addressed it? >> in the past? trish: yeah, why have we rolled over played dead and said sure you can take our stuff? i get it. capital labor equation. shareholders want making money here and now. not thinking 10 years out or 100 years out. they're thinking about this quarter. i get it from the corporate standpoint. what about the government? why has no administration said hey? i get people complained. nobody really liked it, yet nobody has done anything? >> well president trump, as i say has written about it for 15, 20 years, so he is particularly interested. the reason nobody has done anything about it, it is too hard. the chinese will fight back. there could be a major trade war. we'll all have to learn how to say, trish in mandar

facebook is the top fang performer. up 34.5% amazon, 25.5 apple, 18, google, 23.5. we needed microsoft. a great performer. up 17. we've debated, doc, whether facebook or google is the better stock to observe and the majority of people on the desk said google. what do you think? >> that's what leon cooperman said yesterday, too. i don't own google, but i do own facebook it is now my biggest position. i think all about royal. that is revenue, operating margin, instagram and legal or regulatory, however we want to do that. so in order, i'm taking fang and throwing it into royal i think that's what it's about instagram is what everybody i have been really researching is using and that's where the real growth is for this company as you said a lot of folk, snap chat is where it's at. the same folks crossover and do instagram here and i think that's why they win. and it's the operating margins what kind of margins are they pull out of this with the instagram growing as fast as it is take iing those snap chat folks away when you look at one versus the other, it's not even close instagram is running away with it if those numbers are reflecting tonight, it's b

. -- ther if you are facebook or google, maybe you want judge kavanaugh on the court, who will have ainess interpretation. emily: as you said, he is relatively young despite his long record and could influence the court for decades. thanks for weighing in. coming up, the war of tablets continues. microsoft is taking on apple's cheaper ipads with a device of just under $400. this is bloomberg. ♪ emily: microsoft is going after the low end of the personal computing market, coming up with a cheaper service tablet that takes on apple's cheapest ipad. the surface go has a 10 inch screen and goes for $399, half the price of the current surface pro tablet. however, the price comes at a cost, it has lower intel processors and about four hours less battery time. and it is a happy anniversary for the apple app store. on this day in 2008, they opened up the app store offering 500 applications. since then, there are more than 2 million apps just for iphones. the ap writes that during its first weekend, over 10 million apps were downloaded. according to apple, its app store is the fastest-growing

that the economics really promote monopolization they could be game changers that cut into a facebook or a googley important. look at what facebook has done with instagram. instagram which is a platform they bought around their ipo and has morphed into a competitor of snapchat. they have developed a platform that has one billion users and a quarter million daily active users. if my kids are any proxy instagram stories are beating snapchat stories. that is something they have done . they have other applications that are large and those are programs that are in their infancy with video. i don't see a competitor to that on the horizon you got to be careful. in this world things can change rapidly and adaption is quick and the people who use these products are not very brand loyal. i don't see a competitor of facebook. i've not seen a lot of people of my friend group how many people decided to go off the apple platform. it very often. i don't think people will go from apple to some other platform anytime soon. mean with that facebook's stock down 18% in the last three trading days you don't want to b

. >> netflix or facebook or google and maybe getting amazon i may not be listing them in the correctrder, but the point is clear a small number of these big technology stocks have led to the overwhelming amount of growth in the market >> but scott, i thought about that a lot it's not the first time it's happened that's a little misleading because it gives you the impression that the others, almost 500 stocks of the s&p 500 haven't had gains. but it gives you an idea of the outperformance of big tech >> i think you have to look at the statemendpoint. question i have for you is why now. i think it's broader based data being one of them but why now? why is now different particularly when you have the rest of the world that's in a rough spot >> yeah i think we can all pontificate b about our views and fundamentals and all that stuff. and what the options market is is telling us and what we're seeing you know, i think the options market, you would probably agree is like reading the tea leaves because it's all b about probability distributions. >> you are looking at the probability of cert

google or apple. the fourth proposal is the data idea right now we voluntarily give the data to facebook, google and the other giants and international corporations because they fooled us into thinking that it's good for us to the us used that informationo create software that is used to identify images that they have to sell to people or license whe licensed to people for a lot of money. they don't compensate us for the beta and as a result of people did thigive this before data and practice into the people who could use they would receive if they pay for the data remain poor so there's a lot of people that are basically outside of the job market because they don't have the skills of the market value and these people could supplement their incom inf they pay for the data they input into these websites. and then the final proposal, which i don't think we will talk about that basically there is another source of the market for problem today as the guise of institutional investors, and what these companies have done is bought up they are now the largest owners of these institutions are. there's increasing

being put into place by the european union, that promises very strong, costly penalties or facebook or googlethey miss handle users' information. the u.k. couldn't bring its charges with cambridge analytica under those rules. in another world in which facebook makes a mistake in the future, we could be talking about fines into the billions of dollars. these companies have changed their privacy practices, not just in europe and around the world, because the stakes are so high. but here in the united states we should point out that we haven't yet gotten an indication as to exactly what the federal trade commission is looking to do. >> right. >> we know facebook got in trouble in the past for promising users one thing on privacy and breaking that promise and that the agency is looking to see whether the cambridge analytica scandal means it violated a 2011 settlement with the federal government. that can carry fines into the hundreds of billions of dollars theoretically. >> right. >> it's interesting to see whether the ftc is going to take that move, if it's really going to find facebook stepped

with with a big decision that was taken quite early on in the development of, for example, facebook or even googleh was to say they got this amazing idea, this new technology, and the owners of the idea decided we'll make it free to the great general public, but we'll monetize it by generating ad revenue. and of course this particularly applies to a company like facebook. and you seem to be saying that looking back on that decision, it was a fundamental mistake. right. well, you know, the tension that we just talked about between loving entrepreneurship and then also feeling a little uncomfortable with the sort of greed inherent in silicon valley was exactly what caused this all to happen. back around the time that companies like google and facebook were being created, there was a prevailing feeling that everything online should be free, it should be free of capitalism. the notion of the public commons and of opening everything up, a knowledge base for humanity. exactly. so computer code would be made open, music would be free. journalism would be free. everything would be open, but at the same ti

paul: if you are facebook or google you are well positioned for the shift in advertising towards digitalia. we are seeing huge companies, , they grew alphabet advertising revenue 24%. extraordinary we are seeing that in facebook as well. the dollars continue to flow to digital and primarily to google and facebook. david: they seem to a blown past and he told desk any sort of regulatory fines -- any sort of regulatory fines. earnings call they don't seem perturbed by that. paul: it is certainly an issue. i think the regulatory overhang will be there from the europeans and that something tech companies and investors have been comfortable with over the years starting arguably with microsoft. tech investors are pretty comfortable with that oversight. the new wrinkle that may be out there for tech companies and investors is the u.s. regulatory environment. does congress step up and take a heavier hand in technology regulatory issues? historically they have taken a very light touch, but if that were to change that would be something for investors. she couldn't even come up with something for g

they are, are they editorial outlets or if we could speak a little bit too, is there a different way they make these editorial decisions? should google or facebook adopt a more google journalistic style? any thoughts? all responsibility for these decisions with these algorithms. we didn't decided to push the story it was just the algorithm , talk to the algorithm about it. they will continue to do this until they are forced not to. it is crazy to think that a newspaper, a newspaper could publish a story that was defamatory and then just say, that was just the classified section. it was just a add that someone put in the classified section. you are responsible for what appears on our platform and at some point, i think that it's more likely than not on the internet especially on facebook or social media that they will wind up being held to the same standard. they are media companies that have to be held to the standard. >> i mean this, it goes back to the question of twitter and its role in a public square, you hear this from people, they get banned. they think of twitter as a extension of their own voice, if you are banned from this platform, yo

liz: to your point, where is europe's google or facebook? they have companies but the report for creativity, entrepreneurship, individual and success, european bureaucratic machinery flattens everything for status quo, silicon valley cashing on. the vc crowd knows they are not investing there. >> right, they would not look it steal market share, that not the way that world works, i think if that i want to compete, and be innovative, let's have at it, you can't force a market share, have yoyou have to earn it. liz: venture capitalist, michael morris a couple years ago in familiar timfinancial time, say5 year, tech companies developed in europe -- 32 billion combined. eu should be wondering why the value of company is worth about 10% of facebook or 6% of google, how can this be? what is going on with europe. >> the atmosphere. the stifling of competition, their economic outlook on investment. they need to look within. not without. the boogeyman does not come from america it comes from themselves, if they change their attitude, encourage want a

if you look at these companies like the facebook or google, they're trading at 25 times earnings ande got safe places to be if you think the tariff situation is going to get worse. i do think it's going to get worse, i don't think anything is going to get solved on that front until you get to november. it would be really great if these companies were allowed back to china, that will force china to relax some of these restrictions so we'll have to see if that happens. to me, that's up side. >> dan niles, thank you for weighing in. all the bank stocks are higher at least for the moment. >> "ua othstetissqwkn e re" back in a moment, dow down 55. oh, not so fast, carl. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management. with tripadvisor, finding your perfe

there is validity in not asking google or facebook on what should be on their platforms or what shouldn't we want our free speech rights in their hands. >> tucker: well, they already clamp down on ideas they don't agree with and they are liberal. you raise a valid point. to what extent does google have control over the legislative process? >> too much. i it's suspect. i am not sure with these lethes legislators in new york state, why so late in the game? are they giving them funds for their campaigns? big tech they are to blame for a lot of things. the most surprising story about big tech they said on a fakes outlet that posting of the amendments from the constitution was a hate speech. there was a texas publication that said we want to post an amendment every day and show people what is in the bill the rights. they said one was hate speech. they have unblocked it and put it back on. why is big tech determining what is hate speech and what is not? that's concerning. why are they in the pocket with elected officials? >> tucker: that's the question. you have a company that has more power th

facebook and google. editorial outlets or whatever. is there a different which they decisions?ial should google or facebook adopt style of alistic deciding what is news and what package status? >> i think that google and acebook try to adjust load all offload these.-- it is the algorithm. about it.e algorithm hey will continue to do that until they are forced not to. it is crazy to think that a publish a story that was defamatory and then well, that was just the classified section. don't talk it me. you are responsible for what platform.n your at some point i think it is more likely than not that on the internet especially facebook and explo social media they will have the same standard. it will be obvious that they are media companies and will be held to the same standard and will no the algorithmhind because they won't be able to afford to. >> there goes back to the twitter and its role as a public square. hear that people get banned and they think of twitter as an so nsion of their own voice if you get banned from one of these platforms you are on my free speech. i don't thi

they hit the doors, all of a sudden the buyers walked back in >> if i give you a choice google or facebooku're going google >> i am going google that's where my money is >> i don't think you have to own them both. no law says you have to own them both, right. >> as josh points out it's duopoly. i'd like to think that google which has gmail, arguably so much more data than facebook has not been accused and brought into the fray. could it happen? sure i just don't believe that they've done nor will they lie to congress like facebook has. it's better in terms of managing the company versus product -- >> google -- to your point, google escaped the election stuff because they failed at social networking. google plus didn't take off. so, they did not have the same influence on voters that twitter and facebook had they got out of all of that. the other thing with google, a major, major catalyst on the horizon if you're patient. uber's s1 will come out at some point to go public in 2019 that will highlight the only competition which will exist for them ex-lyft which is waymo. what google is doing

stocks, facebook, amazon, google and alphabet now and maybe a couple others, facebook and microsoft, they've seen the lion in the marketains for the last several months. is that a good thing or a bad thing? >> i suppose that depends on your perspective. you've owned some of them or all of them and that certainly has helped a you tak a broader perspective. i think you're always going to ve a bell curve and you'll have winners and losers. five or six companies have been winners for a number of years now. you know, i think we can talk about possibleort of rising risk, if you will. you'ree seeing m sort of market value get concentrated in a few names and that's the fear side and the flipside is look at the fundamentals. the earnings are growing like crazy and they're really sort of backing up investor excitemenla with d and cents. as long as that continues we know these names will contiroe to nicely. >> clearly, it's not lost on anybody that these stocks are seeing good fundamentals, and a lot of people feel many of them are very expensive rig now. so when you start to see maybe a little peak in growth where you're hinting at netflix here with this disappointing subscriber growt

if i'm a young engineer looking at what's hot, google is looking pretty good, vis-a-vis alphabet or facebookmpanies. >> google, second largest recruiter at the school i teach at who do you think is number one, who is the largest recruiter at stern. google number two, who is number one. >> facebook? >> good guess. amazon number one. google grew hiring 17%, grew revenues 23%, which means they're getting more yield out of human capital. >> interesting i wonder are there potentially dark clouds on the horizon with the eu, not just with this find, small potatoes for google, $5 billion, it is a lot of potatoes, was a footnote in the release. but they're small. it is the behavioral issue that's interesting because the eu argues that google hasn't effectively locked anybody else out of making an android amazon can make fire, but they need to use google apps. if google's behavior changes, others like amazon, like facebook even will have the ability to perhaps make android devices that could get some scale. is that going to perhaps change the game one way or the other competitively? >> well, of course

the buyers need to be able to come directly to those publishers, instead of trying to go to google or facebook for your industry, what do you see as things you are worried about right now? there is a tremendous amount of opportunity as we move towards video. i think we are seeing video growth in the internet happening very, very quickly, as people move towards more 1-to-1 quickly, as people move towards more 1—to—1 media. ithink quickly, as people move towards more 1—to—1 media. i think that presents both an opportunity in terms of our ability to present high—quality advertising, but also some challenges because more and more people will get involved, and we will have to continue to be vigilant about making sure that it is appropriate. thank you so much for investing your time with us. world cup action on sport today at next. __ up cup action on sport today at next. —— up next. this is bbc news. the top stories this hour: croatia have made it to the final of the football world cup for the first time after defeating england in extra time in the semi—final. rescue workers injapan are continuing

a small business today can't compete with a facebook or a google or the big law firms and all the places that can offer paid leave. that's why the small groups have endorsed this bill. it's been endorsed by a lot of larger businesses that provide leave because they know how good it is for their business. they know that paid leave is actually good for profit. it's good for employee retention, good for productivity, good for moral. finally, the family act does not create a false choice between having to take money early from your social security account. it keeps social security account secure so your retirement benefits are there for you. that's why this is the kind of paid leave plan that we can all get behind because it makes sense. it doesn't cost a lot of money and covers et everybody. it's portable. it works with part-time workers. it works with everybody because it's an earned benefit just like social security. so i hope this is something that people can endorse. it's been endorsed by fortune 500 companies and small businesses because it's good tr business. what's good for business

so whether it's amazon or google or apple or facebook or any of these tchaps sit as a layer on top ofernet, we have shown through our actions over the last 30 years, and continue to, with the usage of instagram and others, i love all the people protesting facebook on instagram. we prove as humans all the time how we think about privacy, which is we love to talk about it, but we don't fear it as much because the underlining issue is the amount of bad things that happen to the health and well-being of our family or having our money stolen is extremely far and few between. emily: what about the forces that may be bigger than us? the fact that russia tried to hack our elections, using facebook, that there's evidence that they're doing it again to sow discord? has facebook done enough to prevent itself from being weaponized? >> look, facebook, this network, fox, cnn, twitter, it's all the same game, where i think about it, from a mack row, which is, we -- macro, which, is we make decisions. facebook or the russians didn't make us pull for trump or hillary. so i think that the information t

. >> if you could put fresh money into either google or facebook at this point, is that an easy call well, google. i think, because google is not replaceable. facebook is replaceable. there's no other search engine out there. there's no ore ther machine, fo the moment but people will migrate, maybe it is instagram, so they benefit there, but you can definitely leave facebook. >> the votes are not quite as wide good to see you guys >> hey, thanks for having me >>> meanwhile, rockwell automation hitting a two-month high this morning after delivering an earnings beat. the company citing robust global growth amid continued tariffen certainty but warned of modest headwinds going forward. wroroberto azevedo is telling us more >> we are seeing more trade growth we hope that we can stop this trend, the growth of the global economy is showing signs of recovery our hope is that these new trade tensions will not affect that and will not take away the opportunities of the growth that is looking promising right now >>> and joining us now for a first on cnbc interview is blake moret, the chairman

facebook stock. i think it's about other verticals instagram, what's app and i think it's a lot of algorithm of selling down the stock. >> can we just cut the debate on google or facebook moving forward? >> yeah, look, we had google report a phenomenal quarter. google did not have the issues that facebook had when they referred to in the senate. so, i would say, i would ask the question which wasn't answered, how much of this is from people that were either disenchanted, they were trump supporters, especially disenchanted that their personal information has been used to their detriment without really knowing. and just tired of facebook of doing it and you know, the part of it, i would say, look, one day doesn't define the stock one quarter doesn't. but to jon's point -- >> just a bad day. >> -- in one quarter go from 45% to mid-30s, that's something that shouldn't happen. i don't recall that happening or being cut in half essentially in companies that aren't commodity companies. here's my concern. i think you sit back, you wait on it. we saw what happened on netflix. if you go back a year, netflix would have bounced that way. facebook, i don't think you see th

recessional media giants facebook google and twitter or face u.s. congress and less than an hour of or alleged political bias on their platforms hearing is also expected to address advertising practices and fake news it comes as facebook admits that its algorithm labeled thousands of russian users as interested in treason supposedly for advertising purposes and that's raising concerns over who might really want to target these users are gusty of explains. it's simple facebook exists to serve advertisers not users not you and i said a rerun of its. advertisers pay money they want direct access to the right users the target audience you might fall into the interested in islam category or interested in homosexuality group it depends on the things you click on line which facebook tracks and then advertisers or governments can tag you but one of those categories was treason interested in treason officially russian people who facebook deemed as anti government to the russian and facebook confirmed it to us prison was included as a category given its histo

or something, it's hard to know this is going to resonate that much with investors. >> not to mention, that anti-trust argument you started to hear around facebook, amazon, or google,t amex decision by the supreme court a couple of weeks ago was important in terms of how it came down in two-sided markets. >> there's also no indication that that's what they're looking into >> no, not at all. but i just bring it up as another risk that has, at this point, abated a bit as a result of that decision >> s&p tech sector accounting for 102% of year-to-date gains for the s&p 500. crazy. >> all right we've got an opening bell about 5 1/2 minutes away don't go anywhere. 'rba rhtft ts.wee ckig aerhi alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. ♪ ♪ each day, brings new possibilities. that'

digital audio advertising is the one big digital advertising business not controlled by google or facebookora is the largest, so we have been investing in that. we bought a company called adswiz which helps us invest in our strengths of digital audio while we continue to grow our subscription business nicely. emily: there has been a perennial question of whether pandora is a standalone company or an acquisition target. is it a wait-and-see? is that something you are open to or do you see pandora going it alone? roger: i can see why other companies would find pandora attractive because there are few companies that have the scale of pandora. but our strategy is to build on our core strengths. as i mentioned, we are the largest in digital advertising and continue to growth that revenue base and with the investments we are making well growing our subscription business. emily: yet you have apple, amazon, google all chasing music with profits. -- minimal profits. what is your strategy for profitability? you think about consumers, they are not homogenous. not everyone will pay a subscription. mos