horowitz. >> mr. chairman, just a couple of things. i do think that work can be done to advance transparency and ensure that all information -- to whom the money has gone to, we think additional controls need to be put in place. we have been working with our leadership and with the team leadership to do that. in terms of additional efforts that could be done from a congressional standpoint and a legislative standpoint, some of the needs of various programs, to ensure that they are taking the steps that they are legally allowed to take -- data matching and identity theft, that those agencies can undertake those efforts to trying to address what are substantial concerns in both of those spaces. >> i would say there is a mix of things that can be done. of things that can be handled on an ongoing basis, as we continue to respond. coordinating and identifying roles and responsibilities, when you are setting up the programs and executing things, providing clear and consistent communication. there are

that would be michael horowitz. >> mr. chairman, just a couple of things. i didn't think -- i did think, to advance transparency, to ensure that all information and data is getting out there about how money has been spent and where it has been spent and to whom the money has gone, we also think additional rules need to be put in place. we have been working with leadership in the air p.m. plantation team. to do that. in terms of additional efforts that could be done congressional standpoint or legislative standpoint, i think some of the needs of various programs to ensure they are taking the steps they are legally allowed to take. with regards to, for example, data matching and identity. those agencies can undertake those efforts. to try and address what are pretty substantial concerns. >> i would say there is a mix of things that can be done. of things that can be handled on an ongoing basis. coordinating and identifying defining roles. when you're setting up and executing things. providing clear and consistent communication. maintaining thoughts and challe

emily: entries in horowitz co-founder with david rubenstein -- andreessen horowitz co-founder marc andreessend rubenstein. you can catch the full interview this evening. this truck maker reporting a narrower loss than wall street expected but days after its fallen founder was charged with misleading investors, ed ludlow joins us with how the current ceo is managing. ed: the long and short of it is they will now only make 25 to 50 trucks this year. they were going to make 50 to 100. what so amazed and shocked me when i spoke to the ceo was that they will not even be able to sell all of them because they will be missing parts like semiconductors, and until they can retrofit them, they are not able to put them down as revenue, so they will just give them away for free for testing purposes. emily: how frank has the ceo been about trevor mildon's behavior? is he throwing him under the bus or defending him? ed: the company has been very careful in what they've said. they said this is only about trevor melton. the charges only relate to him and the actions he took and the things he said. he did say

horowitz.int, that he'd like to see this administration do more to examine and shine light on the degree to which corrupt individuals or malign actors reached the highest levels of some of the most important and potent government agencies? >> well, i mean i do think that in all of these agencies, it's really important to look beneath the covers and to root out the bad actors because this is behavior that we don't want repeated again so there has to be accountability. one of the things i'm struck by, it's no great surprise, is that donald trump was a very consistent offender. if you were attributing this to a criminal behavior, you would say that he uses the exact same m.o. i'd like you to do us a favor, though. find the 11,780 votes. you know, i'll do the rest with republican congressmen if you just call it a corrupt election. a very consistent behavior. and there were bit players that donald trump uses, whether it was bill barr or, you know, or others in the justice department that he used the

liz: john meyer we are coming right back with our countdown closer bubba horowitz.♪ ♪♪ liz: four minutes to go before we close out a wild week of trading, the s&p 500 and the nasdaq have completely erased yesterday's losses, and it appears will close at new all -time highs. for the week all three major indices will be higher as the nasdaq snaps its two-week losing streak, so, nice moves for all, nasdaq looks like the gainer here, looks like it'll be up about 2.8% for the week. speaking of the week all week long markets waged an you'll hill battle against the hand ringing against potential tapering by the fed the delta variant and yesterday's deadly bombing in afghanistan so if you are proceeding with caution, our countdown closer says he's got three etf's that will keep your portfolio out of harm's way. todd bubba horowitz, host of the bubba show is the man who has those three names and i'll let you put these out there. all right? go for it. it's great to be here. liz: then i can get you up on it >> please give the fed the message to let the free markets work as wel

they betray the country. >> tucker: our conversation with david horowitz is fascinating and went on foru can find it at foxnation.com on tucker carlson today. barack obama is having a 60th birthday party and when you are king of the democratic party why wouldn't you go big? and he has. p 200 servants at barack obama's oceanfront estate in martha's vineyard. who are they, exactly? must be from a diverse group. mark steyn has looked into it. that's next. back from budapest. ♪ ♪ >> tucker: no one is more impressed that michelle obama. she can barely go outside. but when she is at home, she goes big. she and her husband of the democratic party is turning 60. they are celebrating martha's vineyard with 200 servers. will elephants be brought in on a litter? what will michelle lewinsky have to say? we don't havete answers, but wod you believe mark steyn might? he is the correspondent and based in martha's vineyard and he joins us tonight. do you think 200 servants seems like a lot even for barack obama? why do you think they will be doing? >> actually, in venice, the butlers and deputy footmen

you read horowitz's material and it explains the left, like how can they be so stupid?se they can't stand the republicans so much like we would rather take crime to stick it to you idiots than to clean-up our city and look good. pete: it's an unfortunate truth. speaking of someone else the democrats don't seem to want to stick it to it's the communist chinese, in fact the longest time, dan, as you know pointing to the wuhan lab was considered a conspiracy and now fox news has this headline and we got to get your take, exclusive findings about wuhan lab before covid outbreak raised new questions about potential leak. here is a portion of the report from the house foreign affairs committee the republicans. they say such a significant renovation to the wuhan lab, so soon after the facility began operations, appears unusual. all raise questions about how well these systems were function ing in the months prior to the outbreak of covid-19. dan, it appears that they did renovations because it wasn't properly setup right around the fall of 2019. steve: the air conditioner, the

joining us is fran horowitz. welcome. >> thanks for having me. they're zeroing in on sales, which missed the market a bit. why do you think you saw a decel deceleration. >> we have seen or brand's product, voice and experience come together and be well received holister was up 20 we relaunched gilly, and there's so many things happening. >> i think it was just high expectations from the street >> we were thrilled with our results. just could not be more pleased with where we landed for the quarter. >> so what about right now what are you seeing as far as back-to-school trends, any visibility into the comes months hole lister and kids are back-to-school brands. we've seen in the early states like georgia, texas, florida, a nice start back to school. it's a very elongated back-to-school season. the tristate areas aren't going back under labor day, but our back-to-school business is good start. at abercrombie, we think of it as back to fall. that happens a bit later. >> the cfo said there is some assumptions of supply-chain pressures coming in on sa

that would -- new enter price associates, index ventures and early investor an degreesen horowitz are all on the list much potential sellers meanwhile, wolf research initiating coverage, saying not to yolo this stock, on both of long and short side, early signs of weakness retail activity a and -- >> as we've seen this year, becoming a meme stock could be a good thing is it always but we know amc took advantage of it, but there can be a down side, too, which is what i was trying to get to yesterday, too, right, kate? >> it can be a great thing to raise money, on paper for the executives, it's a great thing, but it scares off a lot of longer-term institutional investors. if you look at amc and gamestop, that's what happened there it's almost now entirely owned by retail. >> if you say, come in as a ceo, not that rye roy needs a new ceo, but if they were looking for a potential high-profile executives, it's hard to get people who may look at a stock and say, we don't -- it doesn't seem to be based at all with the fundamentals in how the company is doing that can be another factor, it mi

ribbit capital with 19 million shares index ventures on that list as well as andreesen horowitz this return some money to their shareholders their lps, vc funds have a ten-year life cycle. they will need to get money back to the shareholders. i talked to a few of the guys around the ipos. they said if they sell, it's better to stick with a winner once you find one instead of cashing out completely back to you. >> all right kate rooney. thank you. >>> it was an earnings beat for trimble. the industrial tech company raising full-year guidance as well the stock trading at a new high today, up almost 30% this year thanks in part to ark invest's cathie wood. trimble is the top holding of arc's space exploration and innovation etf the second largest holding behind only tesla. and joining us now first on cnbc off of earnings, trimble president and ceo robert painter. great to see you. >> good morning. >> all right so let's talk a little bit about the quarter itself definitely stronger than expected numbers the strength in hardware helping to fuel that as well given the fact you serve so man

this yesterday this is causing a huge uproar in the crypto community from the likes of andresen horowitz janet yellen has personally reached out to capitol hill to express concern about changes to the requirement that cryptocurrency brokers report more information to the irs a bipartisan group of senators, democrat ron widen and pat toomey and kringt in loomis wanted to make sure crypto miners and developers were carved out from those rules. but the white house took a different stance instead, backing a more limited amendment that only exempts miners, sponsored by democrats mark warner and kristin cinema and rob the portman. bleaching the provision will strengthen tax compliance in the emerging area of finance and ensure that high income taxpayers contribute what they owe under the law. the industry is up in arms the blockchain association said leaching out software develop certifies anti-technology, anti-innovation and disastrous for the crypt off ecoin my loh system and senator widen is not backing down right now, the senate is an impasse, one of the reasons the vote on infrastructure

while the ceo champ pond retail traders during that ipo last week, big institutions like andreissen, horowitz, rea capital, they're cashing in on yesterday's surge. and they're also some of the names who rescued robinhood earlier this year during one of its most controversial moments. >> yeah. a lot of controversy around the name our next guest just initiated robinhood at peer perform in the note titled why robinhood is uninvestable right now, warning clients don't buy the stock. steven chubak joins this morning. do i have you? >> yeah, i'm here, can you hear he >> good to see you i got you. your note is interesting, implying downside of 36% you say it is a tough short as well can you lay out the thesis >> yeah, sure. look, why it is such a difficult short really boils down to the fact that the float is incredibly small relation to the overall market cap, the cost to borrow is incredibly high, and we are incredibly sensitive to the meme finance mania we're seeing across many different names. our quant team looks at the names getting the most traffic on reddit, risky lo y longs or t and hood i

enterprise associates, ribit capital and index ventures all three firms backed robinhood and and horowitz as well and we did get a bearish note out from wolf research that could weigh on shares. the firm initiating coverage at a $45 price target called it uninvestable in the long and short side they say it is too expensive to short and on the long side they call mean stock rick with yesterday's run you have, regulatory risk if payment for order flow comes under more pressure and that is impanel to handicap and they say there are some early signs of weakening retail trading activity. back to you. >> so just so i understand the people who are now allowed to sell, are these separate people from the initial quote/unquote insiders who were allowed to sell up to 15% of their holdings at ipo? >> so this was disclosed in a july filing. so we knew there were certain level of insides that would sell this goes back to january. they raised about $3.5 billion from the vc investors. so it converted to equity at the ipo price. we got more information on exactly how much they could sell and the numbers t

he immediately reached out personally to the inspector general of the justice department, michael horowitzdo you need from me? he went in as quickly as he could and then, y he did speak to the senate judiciary committee for seven hours. now that says to me he feels he has a story to tell, but he feels something happened that was not right and that he does have some fear that the trump team would have moved to block his testimony because what he's provided to investigators is a road map and several more threads upon which they can pull. he's giving them information they can build on as they try to better understand what happened. and he is, because he was the acting attorney general, because he was in the room for all these conversations, because the president was reaching out to him directly, he would be a key witness if not one of the most important witnesses. i can't say how nervous the trump team should be. i will say these things always move slowly and everybody needs to manage their expectations around what can happen next. investigators will continue to conduct interviews, gather doc

whether growth investors like softbank long investors like fidelity or investors like anderson horowitz from some of the best investors in the world as well as strategic partners who ultimately put the money where this their mouth is is a great thing. it's healthier we negotiate with a deal with the eqrx megahertz team to put money in at fair value, right? it's a euphoric market where that rerates the next day up 80% like it did on our first deal. now, where ultimately we should be judged is where does this company trade one, three, five years from now and by putting as eli said earlier i think the company will have close to $2 billion with the 1.8 billion we put in plus the 300 million on the balance sheet. by putting the $2 billion on the balance sheet they can innovate and go bigger and faster what eqrx is set up to do is something we will look back on and say this is inevitable why did it take so long. what that is is to take all the innovation occurring in drug development and let's it flow through to the patient by lowering drug prices simply put what it does is they develop the s

anna: that was the cofounder of andreessen horowitz.interview later tonight on "bloomberg: wealth." top corporate stories we are covering -- laura: the u.k. may block a takeover of chipmaker citing national security. nvidia is the biggest chipmaker by market value. it announced $40 billion deal to acquire a deal from softbank. it is currently being considered by ministers. hedge fund alpha dine has become one of the biggest casualties from a short squeeze in the global bond market. it's $12 million macro trading strategy is snared in bad bets on rising interest rates. the investment firm is facing losses of around $1.5 billion after his hedge fund plunged in july. they have never had a down year since it started in 2006. an attempt to phase out -- blackrock and other major financial institutions are working on plans to accelerate the closure of coal-fired power plants. hsbc is among the partners. that is your bloomberg business flash. anna: thank you very much. let's turn our attention to china, it is experiencing its broadest outbreak

new enterprise associates, and an degreesen and horowitz are part of those investors. there's now some commiserating more about losses if they bought in on the momentum yesterday others are warning about buys in on folo, or fear of missing out. >> just to confirm, this would just be a transaction, not a fund raise for the company. >> robinhood would not see any of those proceeds. these really to the benefit of the early backers of robinhood, especially those who came to the rescue back in january when they did the convertible debt deal. >> thank you, kate down 23% today after a huge surge yesterday. >>> take a look at the dow, the s&p is on record close watch here for the s&p 500 the dow is up 184 points, nasdaq up 0.6%. russell zooming ahead today. >>> up next, amazon and wales fargo are joining a group of companies pushing back their timelines to get employees back in office. >>> and check out some of the top surge tickers, robinhood drawing -- moderna with earnings and some news on its vaccine, tesla and apple also topping the list stay with us here on "closing bell

new venture capital fund, enterprise and andreessen horowitz will unload 3 1/2 billion dollars worthon dollars, they have a maximum selling price of 35 bucks for these 97 million shares, roughly half the levels that you're trading at now but why not. there is such a frenzy out there. still the most talked about stock on wall street reddit pages and twitch this morning. finally have options trading on robinhood. hundred thousand -- 300,000 options cleared on the cbo. this is the volatility. cathie wood, arc invest, buying $65 million, her total robinhood stake of $300 million. that is one of the reasons we're seeing robinhood doubling in just a week. ashley: pretty amazing stuff, thank you, susan. president biden aiming for a big boost in electric cars by 2030. what is the goal? susan: i don't think it surprises anybody, i don't think it surprises anybody in detroit, auto city. 50% of all cars sold by the end of the decade will be emissions-free. battery electric. plug in hybrids or even the fuel cell powered hydrogen by year 2030. the carmakers are already doing it on their own. ford