and the bombshell text jack dorsey sent warning elon musk about the twitter takeover deal. you'll want to see this story. the hills joe concha next. elizabeth: let's welcome back to the show joe concha, the hills media columnist and now author of a brand new book, come on, man, the truth about joe biden's terrible, horrible, no good very bad presidency. i hope i said that title to your liking, joe. joe, -- >> perfect. elizabeth: it's forfect, i know. listen, business inside service connected reporting that private text messages allegedly show jack dorsey was really trying to warn elon musk about twitter before musk's $44 billion takeover deal. it's revealing more and more that jack dorsey didn't like what was going on behind the scenes of twitter. he said it was completely stupid and backwards. >> amazing; right. it's fascinating to watch the two billionaires go back and forth and watch jack dorsey trash his own board of directors at the time and endorsing musk and his bid to take over twitter. liz, this has never been a well run company and tech companies and it is vastly

of jack dorsey's mind he's hinted at this publicly, that there's more to this story. and we found this out. he said twitter was never meant to be a company, and this is proof that it's jack versus the board. >> it's so interesting the moment jack wasn't on the board anymore, he took back all these decisions. he not only found twitter, but he built it into a big business. seemed like he had regrets or was recent of the way the board pushed him out. to sajy jack dorsey was throwing twitter under the bus may be an understatement the idea that he was egging elon musk on and encouraging him to take the company private it's fascinating to read these texts. >> yeah. that's where -- the most interesting part is jack dorsey appointed somebody to be the ceo, yet instantly changed back we need to -- it was never meant to be a company. it should be a protocol, it can only be run a certain way. i do fully agree it was completely inconsistent but also let's remember jack dorsey made this protocol comment for years. it's a reminder that the inner workings of these deals can be random

a court filing reveals before the current issues, ex-ceo jack dorsey sent a text in late mama march he wanted musk on the board in april dorsey said he thought the board's approach was quote completely stupid and backwards. added his power is limited because he only had one vote and a limited stake in twitter all of this coming as musk and twitter prepare for court next month over the failed bid to take over the company. we will see elon musk today, frank. tesla holds the ai day >> it seems like elon musk finds a way to keep himself in the news bertha, thank you. >>> uk prime minister liz truss is expected to hold an emergency meeting with the head of the monetary watch dog today after failing to calm the panic over the future of the country's economy. earlier this week, the bank of england announced plans to start suspending the gilt and start buying long bonds in an effort to calm the turmoil amid the budget let's talk about this for the future of uk and global economy with martin weale. a former member of the bank of england monetary policy. good morning, martin >> hello >> first, o

buying jack dorsey's tweet is one of a singular event.you thought that was valuable, that's no different than buying someone'spe famous piece of artwork if you look at it broadly, actually the value that was jen rated there was real and substantial for the people who got into the space they've made good returns. more importantly again, nonfungible tokens don't represent a purely representative property. it's a digital property. it's what it means to our identity if you think of all the assets you buy, the house you live in, the car you buy, or the clothes or luxury items you choose to wear, these are more than an investment product, they say something about us they are our identity. ask your children for instance what they want for christmas they want a digital item, something virtual. that's where their social life is the digital path is even more important than their physical one because that's where their social networks are, human connectionings exist all things that have sort of property aspects in the physical world will translate t

ed: twitter's woes come from jack dorsey being too busy with bitcoin.ery quickly give me the overview of that. max: dorsey, who had just resigned from twitter, probably to spend more time with his bitcoin, talking to musk and saying we really need to change thing, we would need to shake this up, maybe there should be a protocol, he's very much whispering in musk seer, encouraging him to pursue the deal and encouraging an idea that there needs to be this change. he was the ceo and it kind of tells you the gravity around elon musk that jack dorsey things this outsider can come in and do something that he as a founder and ceo could not do. ed: thank you. much more ahead, stay with us. this is bloomberg. ♪ ed: google continues to collect ad revenue from crisis pregnancy centers on abortion-related search terms while failing to properly label them as organizations that do not provide abortions. bloomberg quicktake paints the picture. >> is google keeping its promises on abortion information? after roe v. wade was overturned, the information that was on the g

and i don't know if you knew that but i told jack dorsey about n it. nothing ever changed. except when it finally iaregular media reported it was a lie. but those are the kinds of things that happen to people in this building . because of the misinformation that is rampant on social media. tocomment about what you think they should be doing about that ? >> i'm very sorry to hear about that. the lack of language was stunning to me. this was a situation where i brought in a world-class leader for twitter global support and also identified this and we started saying you can't react to a language situation. when something was happening in miramar you can't wait s until after it happened and then go where are the burmese speakers, let's see who can hire? those translators are hired elsewhere. 80 percent of twitter has to understand 80 percent of their users areoutside the united states . you can't create a healthy environment. you can't serve the public conversation if all you can do is look at it and say i hope google translate is doing the right job. >> thank you thank you sen

jack dorsey will be under oath tuesday against his long-term friend elon musk. be questioned by attorneys from both sides tuesday morning to he was subpoenaed last month by musk. coming up cryptocurrency slides to the lowest in months. we talk about the post surge slump crypto trends to watch and more. this is bloomberg. ♪ emily: bitcoin at a three-month low monday. a wave of monetary tightening that has stretched from europe to the u.s. this week. the second largest token is at a two month low unwinding at short-lived jump in june. i went to break it all down with the cofounder of the d5 focus venture-capital term framework enters. what do you think is going on here? a slump in bitcoin and ether. >> we have had the build of the merge. the version was highly successful last week. now we are entering that time where we are searching for a new narrative. what we advise for all of our portfolio companies is to take a longer term horizon perspective of these markets. it is difficult when you have early-stage technology meeting market liquidity to not attention with

. >>> twitter co-founder and former ceo jack dorsey will be questioned on tuesday by lawyers for theany and elon musk. the tesla ceo is trying to get out of a $44 billion acquisition deal, an offer the shareholders accepted even after musk got cold feet. the two sides will face off in a five-day trial scheduled to begin on october 17th. and thank you so much for your company. i'm rosemary church. be sure to connect with me on twitter @rosemarycnn. "early start" is coming up next. have a great day. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ . >>> here we go. it is tuesday, september 20th. 5 a.m. exactly here in new york. thanks fo

i would put jack dorsey at that camp like all of the things they have done it square.y are an amazing group of innovators, they understand blockchain technology at the very core level. there are others that are playing in this realm. if you look at instagram and have enabled nft's to be displayed, it is not really a retooling and rethinking of the product at its core. i do not think long-term we are going to do this because it is the hot thing of the week -- i do not think that will play well and it is not the dramatic change consumers are looking for. for me it would be a lot of new native companies built from the ground up to tackle these problems. brand-new businesses being built right now that were probably in the next two or three years emerge as early winners. the reason we went out and raised this financing is we believe there is a better way to do a media business, and that puts the consumers in control of these assets and gives them a way to experience and collect digital collectibles that have never been done before. that is just one vertical of probably 15 t

twitter founder jack dorsey became musk's strongest backer saying he's "do whatever it takes becausethe deal was too critical for humanity". musk asking him to throw in $2 billion. by the end ellison said i'll give you $1 billion in funding to help you buy twitter. ftx founder sam fried said let me join for buying twitter. even joe rogan was a fan texting musk asking whether he'd liberate twitter from a sen sensorship happy mob. twitter at $34.18. elon offered $54.20. we're not there yet. he still is fighting buying this thing after trying to convince a bunch of people to give him lots of money to buy it. micron getting a boost after japan announcing it'll provide $320 million in subsidies to the chip maker toe build advanced memory chips and the chip maker announce the disappointing earnings last night after the bell and that's being wiped away by the news from japan. stock is up 1.5%. revenue posted lower than both the previous quarter and the same quarter last year. now in 2023, micron says it's going to cut total capital expenditures by 30% year over year and wafer fab equipment

. >>> twitter co-founder jack dorsey expected to be deposed this morning. trying to back out of his $44 billion takeover deal. his legal team originally subpoenaed dorsey last month. dorsey resigned last year and supported musk's purchase of twitter. a five day trial is set to begin october 17th. >>> hurricane fiona devastating puerto rico dumping nearly three feet of rain on the island. "new day" live on the ground. >>> the fda warning kids not to cookok chicken in nyquil. max p, with 30 0 grams of protein, 1 gram of sugar and now in two new flavors (♪ ♪) (kari) i just switched to verizon business unlimited. it is just right for my little business. (jeni) we switched, too. (kari) unlimited premium data. unlimited hotspot data. my point of sale is on pnt. (vo) switch to verizon business unlimited today. from the nwork america relies on. ♪ my name is austin james. as a musician living with diabetes, fingersticks can be a real challenge. that's why i use the freestyle libre 2 system. with a painless, one-second scan i know my glucose numbers without fingersti

with the twitter whistle-blower testimony yesterday there was some discussion about ventures of jack dorsey's, twitter and square block are going to be under scrutiny regarding safety practices. >> they will there's the safety practice thing on the one side and you mentioned fiserve, it's what gets you excited what's interesting to me about them, they get paid off top line transaction size so inflation for them actually kind of good so if people have to spend more per transaction than they were fiserve is getting more even without people necessarily doing more transactions. interesting for investors to look more closely at the models to see who benefits, under what circumstances. >> yeah. we should mention that fiserv has the clover terminals that you see everyone, especially here in san francisco. yesterday, it was the megacaps and chip names they're fairing better let's bring in mike santoli. >> real consistent message here all year, which is that the winners of the 2020 to 2021 bull market, the leadership has been the leaders to the down side this year. look at the way that semiconductors

it comes from a variety of nonprofit groups and donations including one from former twitter ceo jack dorseydurham is giving $500 month stipend to 109 formerly incarcerated people, the pilot program part of a nationwide project called mayors for guaranteed income, 44 cities across the country announced they are taking part, the city of durham says the guaranteed income is meant to supplement rather than replace the existing social safety net. in this case the city says the additional source of income will give former inmates the time to transition into build a new life, critics say for these plants to work the guaranteed income should replace, not just supplement other forms of welfare programs. this is a program going on around the country, 34 cities and counting. stuart: okay, thanks. 44 cities and counting, handing out free cash. universal income programs. how stupid have we become? >> this is completely absurd. this is a slap in the face to all the victims. these are prisoners who committed a crime. on the other end of that crime there is a victim whether it is store they stole from or a

well, former twitter ceo jack dorsey will reportedly be deposed today in the battle between the socialsk. tesla ceo looking to terminate his 44 billion-dollar bid to buy twitter after claiming the company misled him over the number of bot accounts. twitter has been pushing back on what musk's claims are which are, of course, breach in the agreement. they maintain that 5% of users are spam or fake accounts. musk says more like 20%. finally this is crazy, maria, battery charges after allegedly biting a man's nose after a college football game in arkansas, doug ramsey punched back windshield of car, that point outside of the vehicle before, quote, biting the owner's nose ripping the flesh off the tip. ramsey facing terrorist, threatening and battery charges. a little temper tantrum there, maria. those are your headlines. maria: that's disgusting. what could i say? all right, we are looking at china, china central bank cutting borrowing cut of 14-day reverse repos and also to try to help an economy that has been crushed by covid lockdowns. chinese officials attempt to go boost the economy

we're getting word right now that elon musk's lawyers will depose the former twitter ceo, jack dorseydorsey, of course, as the founder of twitter had sympathized with musk and his concerns about the purchase that, as you know, mr. musk shelved at the last moment. that's the big battle between the two companies about bots and how many subscribers that twitter really has.and now deposing the former ceo. we'll keep you posted on that. this gets back at a time when wall street and much of the financial community is going back and forth whether or not it can survive one rate hike after another. we talked about how stocks were up today. we had a chance to talk to david rubenstein. he just penned together a collection of interviews with some of the most successful investors. the issue about woke investing and investing for causes that matter, regardless of whether they make money is how we kick things off. let's just say on that issue, david rubenstein has different views. take a look. >> you make a good bet, you're helping the economy generate and creating jobs. on the weekness, people are

seeing musk -- build-up we are seeing muskdent posed today along with the twitter ceo and former ceo jack dorseyoday really what is in these deposits, but we're likely to learn it as the trial approaches. >> how does the twitter whistleblower factor into this? >> very, very much so. so you may remember about a month ago, twitter whistleblower, former head of security, the company's executive who was the head of security, peter zacko, came out saying twitter was -- essentially had major cybersecurity vulnerabilities. but he also made the specific point that twitter was lying to elon musk about how many bots were on its platform. directly playing into musk trying to back out of the twitter deal. all of this fortuitous timing of the whistleblower coming forward and we asked him about that. have a listen. >> not one person -- there is about something that everybody should care about with large cultures which is, you know -- large companies, which is, you know, the honesty and truthfulness of the data that's being presented, publicly represented. the national security implications, and whether users

oh, jean-pierre the binder lady and fauci have 20 days to hand over emails with zuckerberg and jack dorseyuences and then we will be able to see the scope of the censorship that americans were subjected to which had nothing to do with science at all. senator rand paul of kentucky is a physician who joins us now. so, i think we are just going to see a mountain of communications from fauci, the white house, to zuckerberg to twitter and this is just the tip of the iceberg. what are you expecting? >> i think all of america should be appalled that america's doctor, the leading expert on covid and public health doesn't want to divulge information. doesn't want to divulge his communications with big tech. but it goes even beyond that the last time i had him in a hearing, we told him that through freedom of information we discovered that 193 nih scientists had taken -- no it was 1800 scientists had taken $193 million in royalties. and his response was not that i will look into it and reveal it. his response was by law we don't have to tell you which companies gave us how many royalties and to whic

elon musk and cofounder jack dorsey were texting each other just a few weeks before musk offered to buyfrom court filings as the court battle is just weeks away from getting under way that could force musk to buy the company even though he's trying to get out of it. dorsey texted musk, he left twitter because a new platform is needed and he said, won't, it can't be a company, basically, maria, dorsey saying it needed to be an open platform so it's going to get more interesting as this court date approaches. maria: i'm not sure what that means, an open platform. cheryl: not a publicly-traded company, basically dorsey is saying it should be a company open-source platform. all for free which we know isn't going to work. maria: all right, cheryl, thanks very much. texas authorities investigating a acrash in uvalde, alleged human smuggler transporting 9 illegal migrants blowing past red lights and crashing into two vehicles, two people were killed, ten others were injured. the driver a 17-year-old girl, she was seen driving around a border property checkpoint prior to deadly crash. joining m

. >> and in terms of the bitcoin story line obviously, leader jack dorsey of block is a vocal backerng resources in that direction. how does that either distract management or how does it color the overall story? what should they otherwise be paying more attention to >> a great question. look, he's a visionary obviously he built this. amazing. we still say there's enormous potential. think about the holy grail on square, connecting the three ecosystems point of sale, cashout and after pay, buy now pay later we are hearing that, he spends a lot of time with bitcoin very focused on bitcoin. when you don't have him fully engaged and fully in there doing everything you need to connect the ecosystem no one else is there with the vision. that's a worry too distracted right now and causing lack of innovation or too slow innovation. product launches not as fast everything that can accumulate to slower than expected growth that's our call today. >> now, the stock already, just about down 80% off its record high not an earning sport where do you think the stock should get to? >> i mean, bears

he has also now been deposed in this as has former ceo of twitter jack dorsey.expected to last a week. we will be down there covering it every step of the way. if you have recommendations for restaurants in wilmington, please slide into my dms on twitter. >> there you go. >> we will be there -- >> i know a guy in d.c. now who probably has some recommendations if you are balking about delaware going out on a limb there. you will be moving to delaware, i'm surprised that's only expected to be a week. >> will be lots of fireworks. >> i will be watching your coverage and you can send the restaurant recommendations back, my friend. >> of course. >> thank you. >>> cnn's coverage continues right now. ♪ >>> a very good monday morning to you, i'm jim sciutto. right now hurricane ian gaining strength as it churns across the caribbean with 75 mile an hour winds, florida's entire west coast now on high alert with the storm expected to intensify into a major hurricane tonight. its path is uncertain for now, but residents along florida's west coast and panhandle are preparing

newly obtained court records show former twitter ceo jack dorsey tried to recruit elon musk to the company'schange coming one year before musk takeover bid for the platform. these new revelations come as musk's company tesla set to uni have a human mid to robots at the company's annual ai day celebration and congratulations fox business host larry kudlow crushing the competition on tv and earning "the national reviews" william f. buckley prize for leadership and political thoughts. >> in the midst today of a very fierce battle between the progressives or the socialists who want to tear apart our history. we are fighting a different war it is the same totalitarian evil that is trying to take down america. and we must not let it. >> carley: larry kudlow receiving the award at the ronald reagan presidential library last night in southern california. he crites women buckley as a huge influence in his life. a well deserved honored. congratulations, mr. larry kudlow. >> brian: yeah, number one in fox business. things are going good for him what an honor. >> pete: look how involved he has been in o

former twitter ceo jack dorsey tried to recruit elon musk to the company's board. the text message exchange coming nearly one year before the $44 billion takeover bid for the platform. these new revelations, as elon musk's company, tesla, is set to unveil a new fleet of humanoid robots of the company's annual ai celebration. that sounds futuristic, guys. humanoid robots. >> brian: i hope that goes away. i'm not into it. >> greg gutfeld not happy to see that. >> carley: i'm not happy see that. >> brian: everything is gone. hurricane ian submerging businesses across florida like this car dealership you are looking at. as the storm devastates the coast's tight-knit communities. the owners' mission to rebuild, next. ♪ ♪ this is john. he never gives up—no matter what life throws his way. high cholesterol. heart disease. 17 fad diets... 5 kids... 3 grandkids... 1 heart attack. and 18 passwords that seem to change daily. with leqvio, john can lower his cholesterol— and so can you. when taken with a statin, leqvio is proven to lower bad cholesterol by over 50% and keep it

that and more in today's business, brief newly obtained, court records show former twitter ceo jack dorseyed to recruit ellen must to the company's board. the text message exchange coming nearly one year before musk $44 billion takeover bid for the platform. the revelations coming as a court battle is just weeks away from getting underway, it could force must to buy the company even though he is trying to get out of it. toyota lowering its october production target by about 50,000 to about 750,000 vehicles due to a shortage of chips. japanese automakers said it's 9.7 million vehicle production target for the current financial year through march. 2023 has not changed. bruce willis is the first hollywood actor to sell his image rights to a deep fake company, meaning he could continue to appear on the big screen. even after retirement, the diehard stars family revealed early earlier this year , he was retiring after being diagnosed with basia. a brain disorder that affects his ability to communicate and phil collins and his former bandmates from genesis of sold a bundle of their music rides t

>> $55 stock so you could be down another 20% on square or block as it's called now, because jack dorsey is, and i think this is a problem for a lot of other companies out there , is they are concerned about debt levels and whether or not consumers can payback some of that pay now or buy now pay later. stuart: that's the one. >> scenario because of rising debt levels in this higher interest rate environment. so same thing for paypal. stuart: you know, as you were speaking, the dow briefly went into the red, turned into the negative column. bounced back again. >> you're saying i'm the cause for negative moves in the markets? stuart: if i thought you could move the market like that -- >> that is true. that's power for you. stuart: it's now up just 10 points, that's all you've got down 1,200 yesterday, up 10 after what, six minutes worth of business this morning. now big tech i'm sorry dow winners chevron, j & j, oil -- >> oil. stuart: ibm is on that list again. s&p 500 winners, moderna, a vaccine company back, starbucks doing well we saw that one, marathon, oil is doing well today. >> and

they're saying that you can work remote forever, and that includes coinbase, airbnb, lyft and jack dorsey'sonducive from working at home. that's having a knock-on effect on small businesses, and we caught up with one pizzeria owner who told us lunch servings are down by 75%. >> we've been through the dot.com bust of 2001, we've been through the great recession of 2006-2008, and this one is the worst we have ever seen it, you know? we always think, you know, next month it's going to get better, next month it's going to get better. but, you know, in financial district if the people don't come back to work, nothing's going to get better. >> reporter: anecdotally, a story for you, charles. yesterday when we were doing our live reports on fishermen's wharf, our crew -- there was an attempted burglary on our crew in our car, trying the grab camera equipment with a drive-by car. it tells us that maybe the city has changed and not for the better. charles: yeah. the big question is can it change back. susan, great reporting. thank you very much. >>> i want to bring in tylergoodspeed -- tyler goodspe

in response, the ceo of twitter jack dorsey turned to a trusted name in the world cybersecurity to lead an overhaul of twitter's security practices. and for more than a year, that is what this individual tried to do, until he was terminated by twitter and their new ceo this past january. last month, this individual released a whistleblower disclosure detailing a number of alarming allegations about twitter's security practices. without objection, his disclosure will be entered into the record. that whistleblower's name is here. thank you for joining us. you are here pursuant to a subpoena, not because you are opposed to appearing before the committee, but so the public can hear the details of your disclosure. you have alleged a number of security flaws and weaknesses within twitter, flaws that may pose a direct threat to the safety and privacy of twitters users, as well as america's national security. the story began in 2011 when the ftc, the federal trade commission concluded that twitter was playing fast and loose with user data. they found twitter had deceived customers and put the p

in 2006, the new social networking platform marked its debut when jack dorsey posted a message that he was just setting up my twitter. at the time dorsey's startup which allowed users to share short messages was a novelty but in the coming years it would become increasingly a source of news and social discourse as it gathered millions of users around the world. twitter now plays an outsized role in politics, culture and even democracy itself. as twitter has grown, so the risk posed by bad actors looking to exploit its opportunities in the data it holds. in july 2020, two teenagers hacked into the accounts of twitter employees gaining access to a number of high-profile accounts including now president biden and former president obama. those two teenagers then sent a series of tweets and scammed twitter users out of more than $100,000 in coin. in response, then ceo twitter dorsey turned to a trusted name in the world cybersecurity to lead an overhaul of twitter's security practices. for more than a year that's what this individual tried to do until he was terminated by twitter and the ne

>> in 2006, the new social networking made its debut and jack dorsey posted a message quote, just setting up my twitter and allowed them to share messages and in the coming years it was an important source of news and social discourse as it gathered millions of users. twitter played an outsized role in politics, culture and democracy. we want to take you te coverage to the hearing. >> he was terminated by twitter. last month, this individual had a number of alarming allegations about twitter security practices without objection, his disclosure will be entered in the record. he is more commonly known as mudge. you are here pursuant to a subpoena, not because you were opposed to appearing before the committee but the public can hear the details of your disclosure. you have alleged a number of flaws and weaknesses within twitter, flaws that may be a direct threat to twitter of users and america's national security. the story began in 2011 when the f.t.c. concluded that twitter was playing fast and loose with user data and found that twitter deceived customers and failed to safeguard their pe

we had jack dorsey in front of the congress committee in october, 2020. senator cruz and myself asked him, we were talking about russians using the platforms to impact our elections and everybody agrees that can happen. we asked mr. dorsey, do you believe twitter could impact the election? mr. dorsey said no. we asked him, could twitter have the impact of the election? >> it's so hard that they're not impacting. mr. boland: absolutely have influence. mr. cain: absolutely. sen. johnson: there is a problem there. i appreciate you acknowledging that fact. we had 51 former intelligence officials have no idea on what basis they wrote this letter that came out immediately. it might be because the fbi had a scheme lay august of 2020 to downplay the information on the laptop. they came out and said that the laptop had all of the earmarks of a russian information operation. it seems to me that the letter was an information operation. so, we have this platform that censored that, facebook throttled it back. a company called media research center poll, after the ele

elon musk's lawyers deposing jack dorsey today. according it to the court filing musk is locked in the legal battle with twitter for the $44 billion to pewbuy the company a he wants to terminate it dorsey stepped down as ceo last year he had been a supporter of musk's bid dorsey will be questioned by lawyers from both sides today via zoom welcome to the new world >> i'm overflowing with information. guess how many suppliers mckenzie estimates for automakers in 18,000 when you try to track down tier two or three guess what they won't tell you because all of these other suppliers are afraid they will go around and get rid of the middle man to save money it is impossible to track. >> this is good. >> news you can't use. good >> what do you mean you can't use it that's what you say about sports when i talk about sports this is business you don't like anything. this is about business why is this news you can't use >> what am i going to do with this >> you heard about ford. factor it into your thinking >>> coming up, treasury yields i lo