it was back in march during an interview with me in overtime that famed short seller jim chanos argued at that time he expects these to be compressed as competition in the crypto trading space increases. today coinbase ceo brian armstrong responded during an interview a short time ago with cnbc's kate rooney >> i think there is the short and the medium term and there is the long term. short term we have not seen any fee compression to date. so that's good generally we see that especially our retail customers are not super price focused. they want to use the app that is trusted, easy to use they're not going to lose their money. it has the products and assets and payment methods and additional functionality around staking and nfts and there are so many new things happening in crypto especially on the retail side that it just hasn't become commoditized yet investors with high frequency, trading every kind of trade, market makers and things like that, i think that could change a little bit over time again, it hasn't, we haven't seen anything dramatic >> all right jim chanos joins us now i

even jim chanos mentioned he was one of the best stock pickers of his generation.e had gotten into macro for some time. you saw him build what we know now as the modern hedge fund. a whole generation learned how to navigate volatile markets and macro trading and technology investing. kriti: "bloomberg markets this is." i want to talk about -- this is "bloomberg markets." 200 firms linked to him. tiger is known for calling the tech bubble at the end of the 1990's. talk about one of the traits that went wrong. sonali: 1998. he bet against the yen and that contributed to a lot of losses in 1999. they returned the money into thousand when they said it would close down. this was a historic run and historic investor that managed his money into recent times. speaking with bloomberg he talked about some of the more macro traits he made and turning the page on technology a little bit. getting into big tech later on in his career. that late tech bubble boom a lot of investors rushed into was when he stepped out of, which was a historic call, although painful at the time. wha

if you ask investor jim chanos, it's cloudy at best.hort position in the space, targeting digital realty. arguing their problem is technical obsolescence and their three biggest customers are turning into their biggest competitors. since that call, equinix is up about 3 1/2%. after the company posted the 78th consecutive quarter of growth. is there opportunity here or not? joining us now, ceo charles myers. welcome. part of the argument here seems to be, you are growing, but not nearly as quickly as the hyperscalers and if we get into a bad economic environment -- if demand comes down -- the hyperscalers are going to keep using their own systems but maybe not those of outside data providers. why is that wrong? >> first of all, thanks for having me. i think the premise that the cloud is just this large scale compute node facilities from a handful of hyperspace providers is not accurate. it represents an underdeveloped understanding of how the cloud works, how it is architected, and the role and how enterprises are re-architecting their i

. >>> next hour, jim chanos will respond on the "halftime report." coming up in a half hour don't miss that. >>> time for a news update let's get to kristina partsinevelos. >>> sales of newly built homes fell 12.6% in july from june levels, the slowest pace since early 2016 the slowdown affects the -- new home sales 30% below where they were a year ago. >>> pfizer and partner biontech say their covid-19 vaccine was 73.2% effective in a study of children under the age of 5, below earlier analysis which suggested an efficacy rate of just above 80% experts have said the number could fall due to a low number of symptomatic cases in earlier studies. >>> consumers have been cutting back on dining out, but not on their morning coffee financial services company rabo josh bank says spending fell 3.1% in june but rose 1.9% at coffee shops and bakery cafes, consumers are embracing indulgences, even as their being more careful with budgets. jon, back to you. >>> intel striking a $30 billion partnership with brookfield asset management to finance its fab expansio