take us to the front of the ftc, if you wait. a row over i the ftc, if you wait.we said last time, there are so many — getaway. as we said last time, there are so many things _ getaway. as we said last time, there are so many things that _ getaway. as we said last time, there are so many things that are - getaway. as we said last time, there are so many things that are still - are so many things that are still going _ are so many things that are still going on— are so many things that are still going on irr— are so many things that are still going on in the world. people may wish to go— going on in the world. people may wish to go on holiday and go back to "normal" _ wish to go on holiday and go back to "normal" but normal doesn't exist any more — "normal" but normal doesn't exist any more. you have a border now which _ any more. you have a border now which is _ any more. you have a border now which is controlled, and if you expect— which is controlled, and if you expect people to visit the uk to get the stamp — expect people to visit the uk to get the stamp in th

the ftc is saying they be it's not going to happen anymore.ine: meta has made a hundred or so purchases of small companies. the ftc is saying you're monopolizing the world of virtual reality. his meta the main company that's going to be at risk or is this setting the scene for alphabet or apple? >> it is certainly something that meta in particular has employed extensively. what makes this lawsuit so interesting is that separately, mark zuckerberg is running into real problems with growth, privacy, the apple stuff. we are seeing disappointing earnings and the way that facebook has -- meta has gotten around it in the past is by buying companies. when there was a shift to mobile, some of that innovation happened inside the company called facebook but what propels meta facebook to dominance was instagram. that was not a huge acquisition. then the acquisition of whatsapp. that is given it a huge dominance in social media. if mark zuckerberg had his druthers, he would probably be trying to buy tiktok. that's out of the question because the sec is ne

advertising so it's actually accurate. >> reporter: ftc declined to comment to cbs news on individual cases and the gun industry's marketing practices. daniel defense did not respond but its ceo is set to testify next week on capitol hill. >> thank you for that investigation. there's a lot more news ahead on the "cbs overnight news." here's to real flavors... real meals. real good. all of knorr's high quality pasta and rice sides are now made with no artificial flavors or preservatives. knorr. taste for good. facing expensive vitamin c creams with dull results? olay brightens it up with olay vitamin c. are now made with no artificial flavors or preservatives. gives you two times brighter skin. hydrates better than the $400 cream. do you struggle with occasional nerve aches in your hands or feet? try nervivenerve relief from the world's #1 selling nerve care company. nervive contains alpha lipoic acid to relieve occasional nerve aches, weakness and discomfort. try nervivenerve relief. (woman) oh. oh! hi there. you're jonathan, right? the 995 plan! yes, from colonial penn. your 995 plan

the ftc has to be careful here. they have come under a lot of fire in recent years for not calling out facebook when it bought out its potential competitors. it bought instagram for $1 billion. that has become this huge business for them. it bought it when instagram was tiny and nobody batted an eye. whatsapp they paid a lot more money for, a potential competitor. the ftc has been criticized for not calling out facebook and not saying we need to take a close look at these acquisitions because you are taking out someone who could be your competitor. you have to bet they are looking closely at this deal. even though it is small. emily: either way, big changes in store for meta, big executive leadership changes happening in november. we will of course be watching. bloomberg's tom giles, thank you, as well as debra. always great to have you as well. meantime, apple just poached a 20 year veteran of lamborghini to work on its electric car. he will join the project which has been under wraps for years. the apple car is be

one of the things the ftc is saying here they have 400 apps in the app store they trip over 400 apps feeding the dog in the morning this is odd, carl, to me to think you can regulate an industry into existence. i don't think it works that way. >> it adds to the regulatory hurdles. no question mark zuckerberg has his work cut out for him the ceo of qualcomm is on the other side of this break, their 5g delivery hand set guidance. how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. bubbles bubbles bubbles bubbles there are bubbles everywhere! as an expedia member you earn points on top of your airline miles. so you can go see even more of all the world's b

the ftc may want to make a point on this one. might not be the deal, when you look at how much of the videogame market activision has, looking at 4%, it is not that anti-competitive but might be one where the administration is looking at these closely. jack: this is not a hill lena con wants to die on, amazon subsidizing retail, that is what she's worried about but 4%, the bottom line according to barron? carleton: we are looking bullish on the stock. if it doesn't go through there could be a quick adjustment of 20% but this will be a time for activision to reset. jack: my son things active call of duty is cool. supply chain is easing, some stores that had empty shelves last year are flush with last year are flush with merchandise today. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd in as m

let's go after the ftc. let's get into a regulatory agency and have them rule that this company is using illegal, provocative advertising. so maybe the company can be held responsible for deaths that are approximately caused. >> it was the politics that changed over time. it was the public support for it. mike, i do want to ask you, as you look at this, agegregious decision making at multiple levels, that's the finding of the report. overall lackadaisical approach. you worked as a secret service agent and in law enforcement for a number of years. how do you see an explanation for what happened there in the midst? it's a lot of people and a lot of them good people who wanted to do something. was it group think? was it a cascade of bad decisions? >> no. i think that the problem lies much deeper than what any of us can even imagine, having been a former secret service agent and executive director of a school district and now a school board member. i think it boils down to, we've got to get better at who is qual

guest: we see the ftc get involved with competition issues related to tech. the fcc, there is talk to bring the -- those could be right for the guests supreme court to look back at. host: with the net neutrality thing -- guest: -- they want to classify it as utility. there is speculation amongst legal folks that that is not what congress intended to be you title ii utilities so that is something the supreme court will look at and say we are not sure whether this is so it is worth looking at the case. the ftc has had a lot dormant regulatory authority that was closely. back in the 1970's. they have not used their rulemaking authority for competition issues but they may try to do that under the current regime so that kind of thing could be considered. host: unless they get the green light, the agencies couldn't do anything or act in this way. guest: they can try. host: --guest: this gets at something from the decision. that is when there are -- when there is no authority for something that agency is doing that has major implications, and be on major implication

post of a toddler craid ling an ar-15 style rifle is part of the 34-page complaint that calls on the ftc to -- but no evidence the f.t.c. investigated further. >> i think we are at a tipple point. >> reporter: david saladdic oversaw investigations at the f.t.c. and says the agency has a responsibility to act. >> we are now seeing an epidemic of these kinds of shootings and the two common denominators are angry young men and assault rifles. >> reporter: the trade group for gun-maker denied members werealke of firearm managers to advertise lawful projects. >> first defense is always t thot te.ent ptects us,ut indury t. the verting, so ad actlly >> t.tline tcommt to cbs new individual ces and the gun industry's marketing practices. daniel defense did not respond to our december but its c.e.o. is set to testify next week on capitol hill, norah. >> o'donnell: catherine herridge, thank you for that investigation. the bureau of alcohol, tobacco, firearms and employees eves known as the a.t.f. is a law enforcement agency that's part of the department of justice. its goal is to protect our commun

so for instance, i think that the ftc should absolutely go after these gun makers in the way that theyket their weapons of war to teenagers and young adults. you know, oftentimes just take daniel defense, for instance. daniel defense makes something called a ddm-4 assault weapon. and i pointed out at the last oversight hearing that they actually had a picture of a toddler carrying this ar-15 style weapon in his lap, and so my question is, why would a defense -- i'm sorry, a gun maker ever market a weapon of war in that way? and now i think it's time for the ftc to go after these gun makers for the way in which they place these weapons in video games like call of duty, they use social media influencers to get teenagers to want to be like those celebrities. and i think that the ftc should go after them. >> both -- in both the buffalo mass shooting and the highland park mass shooting, the individual was 18 years old, bought his gun legally, and there was reason for him to have been red flagged before. but the community just didn't do it. whether law enforcement or teachers or whomever. i

ftc takes the lead on pharma >> l ina's words are chilling because basically if you want to continue- let's summarize. if merck buys seagen that's the innovation of seagen. >> she seems to be criticizing big pharma what we have been seeing is buying the smaller guys, taking the risk and not past phase three. seagen has products on the market and then obviously taking it from there they have the salesforces and the resources to get through the fda and everything else. i don't know if it stifles or helps innovation. >> you raise a great point take bio haven dr. vlad came up with nurtech or migraines. why did he sell out to pfizer? he did not have the able to blow out nurtech. didn't have the money. if he sold to pfizer many more people would benefit is he on the wrong or right side of history personally involved with the foundation and the problem is trying to get awareness. i think that lina would stifle awareness. >> good question we haven't seen anything from the ftc but a real risk for the deal and why even if it is announced it could take as long as a year to pass regulatory appro

. >> the ftc is urging tech companies to protect sensitive personal data or else. plus, a look at some of the best amazon prime day deals. yes, it starts today. rich demuro has the details in today's tech smart. >> here's what's happening in the tech world. the federal trade commission is sending a warning to the tech industry. they're saying you have to be responsible about how you use information collected from millions of smart devices. the ftc says that location and health data is among the most sensitive information collected by phone's apps. fitness trackers connected cars and web browsers. the government agency says consumers should realize that, although company say this data is anonymized, it's often mixed with other databases that can reveal who you are, where you go and what you do. then advertising is sold against it. the ftc says it will continue to crack down on any abuses of this personal and sensitive data. a flaw in honda software could leave those cars open to hackers who might be able to remotely unlock them or start the engine. researchers disco

this is the first major deal of its kind under this new ftc.panies to divest, to make this deal get done that's what people will be looking at >> hard to understand that to apply ftc constraints to cancer and life-saving treatments that companies are trying to work -- you see what i mean there seems that there would be a reason would you want as much innovation as possible i guess you don't want pricing power, which that's one of the complaints for these technologies you see a $100,000 a year treatment, but you say, well, merck has keytruda and that's going to go off patent so they want to have a pipeline in these technologies, and it makes sense for merck. why would that be a bad thing if the well-heeled merck was able to build out all these things they were doing? >> three years ago, this deal would have gotten done i think the strategy under the new ftc is shoot first, aim later, and they don't seem to be afraid to lose in court. they seem to be challenging things and seeing what sticks. there is some overlap between the two pipelines. seatt

this order asks the ftc to crack down on groups. or information to any deep -- or anybody. it provides health energy and information to states with extreme laws. the executive order coordinates on the federal level. it establishes a task force led by the white house department and the department of human services, focused pacifically on using every federal tool available to protect access to reproductive health care. you know, let me close with this. the court and his allies are committed to moving america backwards fewer rights, less autonomy, and politicians invading the most personal decisions. remember the reasoning of this decision. it impacts much beyond row. the right to privacy is generally impacted. marriage equality, contraception, and so much more is at risk. this decision affects everyone. unrelated to choice, we cannot allow an out-of-control supreme court working in conjunction with an extremist government in their republic been party to take with tommy. the choice we face as a nation is between the mainstream and the extreme. between moving forward and moving

. >> i think the ftc should absolutely go after these gun makers in the way they market their weapons the ftc to go after these gun makers for the way in which they placed these weapons and video games like call of duty. they used social media influencers to get teenagers to want to be like those celebrities. >> laura: congressman, this seems a bit off the mark even for democrats. you've got to handed to them. they're going to use all the tools in their toolbox to try to make it impossible for gun manufacturers to exist. kind of like when they are doing with the oil companies. >> our markup is still going on at this hour. i am going to rejoin it. they have got another bill to repeal a law passed in 2005 keep gun manufacturers from being targeted by plaintiff lawyers to try to destroy the industry. they are going to at least put through the committee and through the house a repeal of that bill as well. they mean what they intend to do. they have no respect for the second amendment right to keep and bear arms. >> laura: congressman, we are hearing that the legislation has moved through

this executive order asks the ftc to crack on data brokers that sell private information to extreme groups or to anybody in my view, and provides private health information -- protects private health information in states with extreme laws. the executive order strengthens coronation at the federal level and establishes a task force led by the white house department and the department of human services, focused specifically on using every federal tool available to protect access to reproductive health care. let me close with this. the court and its allies are committed to moving america backwards with fewer rights, less autonomy, and politicians invading their most personal decisions. remember the reason the decision has an impact much beyond roe and the right to privacy generally. marriage equality, contraception, so much more is at risk. this decision affects everyone unrelated to choice, beyond choice. we cannot allow an out-of-control supreme court working in conjunction with extremist elements of the republican party to take away freedoms and our personal autonomy. the choice we face a

the ftc is not led by somebody who's a dove when it comes to antitrust issues.en't done more on this issue for an administration that did talk a big game when it came to antitrust? >> there are two aspects to antitrust one is the prosecution of the case, that takes time. the other is the rhetorical, saying to companies if you don't mend your ways, if you still exercise your monopoly power and raise prices we are going to focus public attention on you, we're also going to have an antitrust case against you, that rhetorical aspect is very, very important, companies pay a great deal for their brand name. they burnish their brand image. they also don't want anti-trust to be used against them. it's not been that much of that kind of rhetoric from the administration. i think the administration needs to be much tougher with these companies. the other thing that i had suggested and i think is still very important is to stop what are called stock buybacks, which are artificial ways of raising stock prices that used to be considered by the securities and exchange commissi

but they're trying to monday ties this as the ftc is cracking down, this is not the right time to ask here when i requested a hot tub for my office. everyone went nuts. you know, fast forward. dent get it. leeza, thank you. flight delays, cancellations that you're hearing about, leave to it madison alworth to take a good look at it and understandably hearing from politicians that are also part of the cancellations demanding action. madison? >> neil, we've been talking about this for so many months. normal travelers have been seeing it first hand. now those in washington are getting a taste of this, we could be seeing some changes because they have aggressive proposals. i'm going to break that down after this. (jeanne) with thyroid eye disease, my whole world became about my eyes. i hid my bulging eyes, and double vision made things look like this. but then my doctor recommended tepezza, a prescription medicine that treats thyroid eye disease. with my symptoms under control, things are really opening up. (vo) in a clinical study, nearly 7 out of 10 patients taking tepezza saw improveme

. >> you are talking about the ftc. one of the commissioners of the fcc is asking many of the same questions. some in washington suspect the chinese government is getting a much better look at people's phone data from tiktok penn's landing on. donald trump wanted to shut down tictok or have it sold to an american company. other news, amazon has purchased minor ownership and grabbed bob and would offer amazon prime users free delivery from select restaurants when the bill is greater than $12. amazon was dappled with its own food delivery app called amazon restaurants. >>> a meeting to debate opening as south bay parking lot for people living in their cars and rvs. that large is located at the santa teresa light rail station. i want to show you this video of the lot when that was being used as a covid mass vaccination area. if you are interested in attending that meeting, and will be accessible for you and you can get access on zoom. >>> turning now to bar climate in crisis. north bay leaders are talking about the long-ra

it has been six months and the ftc has not released any proof that price gouging is happening at the democrats on capitol hill continue to insist businesses are to blame for high prices but oil producers and gas station operators we talked to say that is not exactly true. 80% of gas sold in the u.s. by convenience stores, mom-and-pop shots. the national association of convenience stores said gas stations make on average 15 cents per gallon that they sell. the vice president of the group telling me today, sometimes it can be even less. quote, over the course of the past five years factoring in ups and downs related to gas prices the retail markup averaged less than 30 cents a gallon. after factoring in expenses, especially credit card fees, stations make about 10 cents per gallon selling gas. sometimes gas stations are even selling that gas at a loss when the price of oil goes down. they try to make up what they lost when the price of oil was up. liz? elizabeth: interesting stuff ahead of the saudi arabia trip. hillary vaughn, thank you so much. joining us now congressman darrell issa

the ftc says it cannot comment on any current or potential investigation.uld a comment on any particular crypto platforms. but, it issued a report that put total losses for crypto related fraud, from january of last year through the first quarter of this year, and more than $1 billion. the senior data researcher says often times investors are led to believe there invest in's -- investments are growing, when in fact the website is take. -- fake. >> the website will be used for them to encouraged -- to encourage them to send more and more, until they realize they can't get it back. >> she is ceo of the investment form, -- firm, he says he invested in the website after meeting over an online who suggested it, who he still has not met. my account has been frozen with $1.2 million, they're trying to get me to send another $215,000 to release my funds. he wrote in his complaint to the fbi. he says he has been investing in crypto for seven years. he checked out d 5 based, and found that it listed tom as an invest -- advisor to the company. he invested slowly, side

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host: the ftc did report on these things and they found that sales of these type of products was 304 million which grew and the fruit flavored carter sales jumped 1600% from that time as well and it says when it comes to nicotine coming 2015, 25 milligrams of nicotine were found in that concentration they grew to 60% so clearly this is a sector that has grown over the years. it has grown in appeal? guest: right and they are marketing these two adults as well. they became popular around 2018 in part because of jewel which presented a product on the market which has an appealing design and it was shaped like a usb drive and the engineering was unique. it also had a proprietary recipe let's call it that gave cigarette smokers enough nicotine in a way that satisfied the nicotine craving so they can actively switch from cigarettes to e-cigarettes and it was different for products that had been on the market before. many cigarette smokers had tried earlier versions of e-cigarettes in the couldn't get the nicotine they needed for their dependence. they tried them and they went back to cigar

the ftc california attorney general are looking to crack down complaint companies. >> we're going toeep demanding action here because every day company waits to implement robo call and rebel attacks. safeguards. another california. he's taken advantage of. >> regulators have issued 18 cease and desist orders to violators. 4 of them went to companies that are operating in california, reporting from the capital karma dickerson. more on that from karma dickerson. now turning to what's going on in europe. a major travel disruption at london's airport. >> after the runway was closed because of the extreme heat apparently melted parts of the pavement. officials issued a statement saying an essential runway repair was required after high surface temperatures caused a small section to lift. meanwhile, inside the terminal, hundreds of frustrated passengers waited in the departure area while the repairs are made, the airport was forced to temporarily suspend flights as a result. >> all right. as we look live at sfo was just telling launch cousins and northern island are bacon and not used to t

it's now in front of the senate and the senate intelligence committee bipartisan, they are writing the ftcs pretty expansive powers to do something about this , and tik tok, from what we understand , their reaction is pretty interesting so now this is how you know it's serious. they know it's serious is that sources are telling the fox business network they are out there trying to hire lobbyists and pr people, people with experience and contacts to on the hill, both republicans and democrats because this is a bipartisan effort and this is senator warner on the senate intelligence committee, and marco rubio, the ranking republican to go up there and start pushing on the hill tik tok story and tik tok story is simply this. we are trying to safeguard all the data, the chinese government you know, we're trying to make sure it doesn't have access, but you know the problem them they have is i'm telling you, i keep asking them. explain what buzzfeed said. are you going to deny this report that buzzfeed, and they quoted based on tapes. tik tok officials saying the chinese government has access. th

about the users to data brokers some companies are pivoting the creators of flo, who settled with the ftc2021 for allegedly sharing sensitive health dat with marketers have announced an anonymous mode steph black said she now prefers euki it can track periods and sexual encounter and provides information on contraception and abortion without going to a browser it was built by a nonprofit for wome in indonesia where abortion has long been illegal. >> that is even more important now that we're seeing increased restrictions on abortion access in the united states. >> reporter: euki is built for the post-roe world. its data never leaves the phone and has features to prevent anyone coercing a user into granting access one secret command seemingly breaks the app, for instance. >> you can just say, oh, the app must be crashing >> reporter: and personal data about sexual partners, abortion medications, and doctors visits can be erased with a tap or on a schedule, should the unthinkable happen >> this is very scary data to just have on your phone >> you wouldn't trust anyone with this >> i wouldn'

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whether it's the ftc. >> treasury commerce, we take immediate. >> in stop. surreptitious flows updated back into china. but virginia tech cybersecurity expert aaron brantley is looking to lawmakers for a legislative solution to require on shoring of u.s. national data. he says then private data wouldn't be allowed to leave the u.s. without specific legal permission. senator warner doesn't thing full on shoring is the solution, but believes national data, privacy regulations are long overdue to talk is quite popular, but it shouldn't be. >> that popularity of the cost every americans, individual privacy in washington. i'm hannah brandt. according to a new report, some of the biggest social media platforms are failing to stop hate and threats against there. >> lgbtq users, the advocacy group, glad says a majority of lgbtq people say that they have faced menacing posts or comments when they're scrolling through social media. the report states, the tech companies are withholding information about how they respond to those attacks. revealing few details about how

. >> reporter: yeah, you're talking about the ftc. as it happens one of the commissioners of the app is asking many of the same questions. some in washington suspect the chinese government is getting a much better look at people's phone data through tiktok than its letting on. you may recall former president trump wanted to shut down tiktok or have it sold to an american company, but little came to that effort. other news amazon has purchased a minor ownership in the food delivery system grubhub and will offer amazon prime users free delivery from select restaurants when the bill is greater than $12. amazon once dabbled with its own food delivery app called amazon restaurants. back to you. >> thanks, scott. you can see scott mcgrew and the rest of the morning team every weekday. tune in to today in the bay from 4:30 to 7:00 a.m. right here on nbc bay area. >>> up next the stranger spin-off. details of a new plan to create a spin-off of netflix's hit show, "stranger things." >>> okay, put yourself in the driver's seat here. say you buy

the ftc is suing metaphor monopolizing the personal social network market where they also claim meta's purchases of rival sites was meant to shut down competitiveness and grow their dominance. >>> a new bill passed by the senate invests $52 billion in semiconductor production. it addresses the semiconductor chip shortage here in the u.s. the bill includes federal grants and tax breaks for companies that build chip facilities here in the u.s. a house vote is expected later on this week. >>> a new statue honoring aviation pioneer amelia earhart has gone up in statuary hall at the u.s. capitol. it comes on the ninth anniversary of earhart's solo flight across the atlantic ocean. out of the 100 total statues in the hall collection, 11 are women. >>> the u.s. secretary of agriculture announced a new program to help struggling farmers and food banks. it's called the farm to food bank program, and the goal is to give small family farms some new opportunities to help hungry families who need food, especially those in rural areas. agricultural sec tom vilsack toured yolo county food bank along

>> the ftc has investigated and done some good things. there were problems the way visa and mastercard controlled what was happening with the payment card terminals that accepted chip cards, they have had other open investigations about actions by visa and mastercard to try to block the competition on debit cards. so there are some things they can do, but they are limited because they don't have jurisdiction over the banking industry. the department of justice had taken some action as well. the antitrust division has perhaps brought more cases in the payments area than any other area over time. but as you know, litigation is hard, it takes a very long time and it is best at finding compensation for past problems. congress is best at designing what is the way for the future to look in terms of having a competitive market. >> thanks, senator blumenthal. senator lee. >> thank you, mr. chairman. anytime you look at a competition issue i'm interested in how it affects consumers. representing my case as i do, i'm concerned about how things affe

if you do come across a job scam, report it to the ftc. >>> okay, another beautiful day in the bay area. i just love these consistent temperatures. >> mm-hmm. i was pointing, look at this fog. >> i know. >> blue sky. >> but a lot of san francisco, the financial district in the sun today. >> yeah, it's just such a good mix for us. i know a lot of folks are enjoying this refreshing weather we've been under. over the past several weeks we had below average temperatures in june, below average temperatures in july, and here we go into august, and things are also still looking up for us. let's bring you into that microclimate forecast tonight. i want to take you to walnut creek. a look at the air quality. you can see if you look real closely at this on our hd camera, we do have some lower level haze that's coming in from the oak fire near yosemite. we are not expecting poor air quality, but again, we'll get some haze coming in even through tomorrow. so if you do suffer from any kind of respiratory problems, you might notice it and could need to limit outdoor exposure. keep an eye on that, we'

the ftc has documented this. the fees get higher at the same time. we have members that literally, some during the past few months, who sold at no margin to keep some market share. >> the term has been used by the officials from fees and mastercard, this market has never been more competitive, it is highly competitive, that -- but they are including in the market, different companies like apples and oranges, correct? >> that's exactly right. >> and let me ask you, what can the ftc do in the absence of legislation? can it act to try to foster competition? >> the ftc has investigated and done some good things, for example, when there were problems with the way visa and mastercard controlled what was happening with the payment card terminals that accepted emv chip cards. they -- have had open investigations by visa and mastercard to try to block the competition on debit cards. there's some things they can do, but they're limited because they don't have jurisdiction over the banking industry. the department of justice has taken some action as well, in fa

alex: there should be some meetings with brandon carr's team, he is an ftc member who has been very vocalaying this week that tiktok is a security threat to our military. the company has said they are meeting with that team. they will also continue working with the national security arm of the u.s. government to try to wall off this information in a way they feel comfortable with. i would guess what they are trying to do is head off any large fives we saw a couple years ago with president trump at the time saying we need to get rid of tiktok because it is a national security threat. i would expect that volume two continue between bomb makers and tiktok -- between lawmakers and tiktok. emily: coming up, new york's prospects as the tech hub took a hit. we will explain next. this is bloomberg. ♪ emily: now to an exclusive, meta and amazon are cutting back on plans to boost their office presence to cut costs. both companies are backing out of expansions in new york that could have brought hundreds of millions of dollars to the city's economy. what do we know? >> we reported today that meta an

that is not clear written consent based on my ftc guidelines.ear with the consumer, you will face this litigation and regulatory problems if things go badly. ed: a pretty ugly chart is on the screen. bitcoin year-to-date, one year, down a lot. that is part of the story. to use sonali's favorite word -- regulation, do you think we will see more regulation in the space? joshua: i think we will. so many people will lose so much money, people will write to their congressmen. do not pay does that as well. sonali: what is do not by asking for regulation here? there is a sense the sec might come hard -- might come down harder on the enforcement side than the regulatory side and create new rules. joshua: crypto companies generally have money transmitter licenses, which is a low standard of regulation. they are being a broker-dealer. at least, we would all want to be licensed as broker-dealers versus money transmitter said that would lead to more disclosures and consumers feeling better protected. and there are a lot of companies like coinbase who would

lawmakers are pushing the ftc to investigate the issues but without ...cnbc, casey newton, welcome. >>> that is exactly right, sean, you think about all of the sensitive data that these tech companies know about us and there are almost no national laws regulating how they use that data. there are these giant data brokers companies that can justify up essentially whatever they want to know about us and use it however they like. i think there is a lot of appropriate attention on tiktok and with the chinese government may or may not have access to. until we have a national privacy law, every tech company will find itself in the situation that some point. >> not only a national privacy law but doesn't there have to be a way of auditing this in some way? it is one thing to say, you can't share data on u.s. citizens outside of u.s. soil, but how do you check and make sure? >> that is right. it is really comp located. as an american citizen, having a conversation with a chinese citizen on tiktok, who owns that data? there are going d not just have to take their