buzzfeed's john steinberg monitored feeds in real-time.nding ads from last night when we come back. [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some financial folks who will talk to them about preparing early for retirement and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. ♪ >> janet yellen being sworn in as brand-new chairman of the federal reserve. want to turn it over to headquarters. steve liesman, senior economics reporter, covering this. janet yellen comes in, the market's in turmoil after that last economic report, steve. >> yeah, the challenges didn't wait for the new fed chairman. a weaker than expected ism report, a weaker employment report for the month of december. obviously

john steinberg is president and ceo of buzzfeed and a cnbc contributor. elease of a tv series gets this sort of attention. i just -- so many levels this is fascinating. >> it really is, simon, and what's also interesting is how many things are different about it than a television show. i went up to my ipad this morning -- >> at 3:00 a.m.? >> yes, sara. what you have is this beautiful, haunting cinegram taking over my ipad screen, i've never seen them do this before. sound is playing as well and i watched the first couple minutes. there's no last season on "house of cards" they don't need to do that. >> it's not robin wright. >> i'm better at stocks than celebrities. >> i think it's creepy, actually. >> and you don't need a refresher on what happened last season because you can go back to watch the end of season one, that's different as well. i don't think they're going to disclose any viewing numbers on this because they don't want to jack up content cost. >> how many people do you think watch this? >> 66% of netflix subscribers tend to at least one origin

let's bring in david sourby from loomis sales, stephanie link is here and john steinberg and our very with us is "fast money" contributor guy adami. david, first to you, what do you make of the market action today? >> just more weakness. we're going to get this town 10%. i think when you get a down 10% move in the market you grind through it. when you grind through it you look at what's better price than what was more expensive at the beginning of the year. and i view this as a long term buying opportunity. when it's down 20%, then the defense comes on the field but i don't think we have the fundamentals in place for a down 20% market. just this down 10% that we've been overdue. >> stephanie, do any of the earnings do you think move the needle on that bigger question today? >> you know what's interesting to me? a lot of the stock, maybe the stocks i own unfortunately, are down already 10%, right? so i already have been feeling that this market correction is even worse than it actually appeared. >> what are some of those examples? >> a johnson controls, that stock is down 13% and they

nina agdal, chrissy teigen, lily aldridge will join us here at the nyse in a few minutes, john steinbergs start with this story out of the san francisco chronicle today. the head of mae from apple meeting with musk a long time ago. how big a deal is this? >> m&a executives send to be deal executives, too. you know they might have been talking about a partnership. three tiers of possibility. at the lowest they're going to integrate siri and ios into the car. the console of the car already looks a bit like the ipad. they're building a big ga factory at tesla that would develop lithium ion batteries. that's the second polkt. big investment area. and the third would be acquisition, which i think is so out of the realm of possibility. my gut is that it's about the battery technology. >> we talked to an analyst at jeffries today who said zero chance this is about a merger. >> even if it were, why would you buy a 200 when you could have bought a 50? >> $25 billion for a company that has $150 billion in cash. i think it would be so outside the sweet spot for a company that generally doesn't do b

we turn to john steinberg, a one-two punch, a deal and nice move forward in innovation. >> it's greatdeal day i said they are the phone company of the future. i had no idea they would be rolling out phone service in a matter of days. it positions them like an analogy unlike netflix, we're going to have whats app and say if you're going to push voice over our lines, images and stuff, we want to be paid for that as well. now phone companies are going to be further down pipe for voice and sms. that's a big deal, i think. >> how embarrassing maybe for koum had to apologize at the biggest gathering of the year. >> this is just what happens. services that are in this state which are growing fast, i can't imagine. he said it was a router issue, i can't imagine thein flux of users they've had over the last few days with the all the coverage. i think ultimately not that big of a thing, however telegram is a new service that launched over the past few days. it's ranked number four right now in the app store. lots of geeks and early adopters are on it. you can see right there whats app in the ei

john steinberg will weigh in after the break. open to innovation. open to ambition.rk has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and grows more businesses... we're open to it. start a tax-free business at startup-ny.com. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some financial folks who will talk to them about preparing early for retirement and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> coming up, the dow is having its best day of the year but don't break out the champagne just yet. we're trading all the day's roller coaster moves. lots of stocks in play here and some are fizzing up w

. >>> first up john steinberg buzz feed president and cnbc contributor and other own john ford joinsve lost all its bitcoins, half a billion dollar to hackers. he called it a weakness in the system. do we believe it's a hack or a run. >> it would be a weakness, could have lost, could have been stolen. it's holding up well, above $554, down from the $800 it's around. the other point i would make out, it's terrible people lost all this money but most people probably have a much lower basis. probably millions and millions held at a basis of $1, $2, $50, i don't think you can call it a $450 million loss. >> john is shaking his head. >> i wouldn't call it a black day for bitcoin. i guarantee very few black people involved in this. >> white men don't mix. >> french. anyway, mind boggling to me. you lose a half a billion dollars worth of bitcoins. the whole thing was supposed to be these things are so easily trackable. where did they go? >> exactly what i was going to ask. these bitcoins aren't lost. they have been hacked. they exist somewhere. when a bit conis lost, where does it go and ho

. >>> the great john steinberg, buzzfeed president and cnbc contributor. always good to have you.m has been subpoenaed by federal regulators. comes one day after mt.gox shut the website and halted trading. a lot of people asking is this a lehman moment for bitcoin? i'm guessing you don't think so. >> i don't think so. i think it's an fdic moment for bitcoin. what i thought about buying a few bitcoins i had to think long and hard because there's no insurance and no nothing. i own five coins. i did that because union square ventures backed it. this these people vetted it i could get comfortable. bitcoin is trading at 555.80 depending on where you look. >> if you're a target shopper and you see the target, you get an e-mail from the company that says we're aware of this, taking moves to sly and stem the fallout. what happens if you're a bitcoin holder an something like mt.gox disappearing happens? >> i think it's dramatic and terrible. there's potentially $400 million, 6% of the bitcoin eco system lost or potentially stolen. you can't get a straight answer on it. it's an evolving eco

let's bring in john steinberg president and ceo at buzzfeed and indeed a cnbc contributor.rning. >> good to be here. >> your take here? >> my take here is it's similar to twitter. they came in light on the number of registered users. they came in at 277. most people thought it would come in at 279, call it 18 million, 19 million adds, but not where people wanted it to come out. lower guidance for q-1, this company tends to be a sandbagger. >> what does that mean? >> underpromise and overdeliver and you don't think you can read that much into it. there's no room for error on a company this expensive. >> expensive, you compare it to twitter, it's cheap. >> it's 24 times ebita. >> which is a big multiple. although twitter's at 30 times sales. >> i know. twitter had its comeuppance yesterday. >> the marking the solutions where they are moving to a sponsored update like facebook and twitter has they did $15 million in revenue and two-thirds from mobile and some signs they'll cross the chasm. >> not all social networks are the same, are they? linkedin is a high-quality, high-reve

. >> john steinberg is the president and ceo of buzzfeed and cnbc contributor. hatsapp one day, groupon the next day. where do you make of where they're trying to go versus where they have been? >> i think the whatsapp comparison, it's a radically simple business. right? actually brian sent a note to the founder and said no ads, no games, no gimmicks. that is the success story of watts ap whatsapp. when i was listening to him it's so complicated. you can't figure out what this business is anymore and how you structure and operate your business is how you present your business to customers in the world. i think that's really a big issue for groupon right now. >> one of the issues brought up on the call is that e-commerce on average people buy two items from their shopping cart. groupon is barely one. and they're trying to give that up. groupon is a business where people go to buy multiple things at one time? >> that is the point. me hanie has a great article on this. it's excessively ambitious for them to be the starting point for mobile commerce. i agree. they're

let's bring in john steinberg, president and ceo of buzzfeed, a cnbc contributor who has been shoutingrom the rooftops that you need to get to know this company. you started talking about it back in january. and you like the deal. >> i like it. we've been obsessed about this company. we integrated it into buzz feed in october and we've had twipes the number of shares on it in the past week than we had when we started out and not to mention that we are now seeing more shares of buzzfeed content to whatsapp button than we see to twitter. it's massive. 70% of those 450 million people use this thing daily. it doesn't take that much to monetize something that's that big. facebook only montized at $6.60 per user. >> they are not going to do advertising. that would seem to be very clear. it's not an advertising platform. it's communications. so, when you say monetize, you raise fees and increase users, what? >> there are so many different ways. they can charge people to send messages. this is basically the phone c company of the future. >> it's taken a big piece out of the hide of text messag

as more and more people stream movies online, who better to ask than john steinberg the president andbutor and an expert on all things involving the future, the media, et cetera. we've been talking about whether we did or didn't have problems streaming some of our netflix over the weekend, i prefer to blame my cable provider but that may not be who to blame. >> that's like saying your vase smashed on the floor and your two kids in the room and your dog runs to the other room. this involves mirroring and the transportation of the server hubs way far from your home. and the issue is netflix wants better interconnections from the cable companies and the cable companies don't want to do that, the cable companies say that netflix should have to pay, but ultimately the net customer is paying for broadband in their home, if one-third of the broadband usage is netflix in effect they're already paying for it and you are in a market where they is often only one cable provider so you can't switch if you want to. so the rules here are not necessarily the total free market that exists when that's

this afternoon, governor brown will join john paris and darrell steinberg to announce new drought legislation's not clear what measures will be called for in the new legislation. when the governor declared a drought emergency, he called for all californians to voluntary rewater usage by 20 -- their water usage by 20%. >>> police made an arrest in an amber alert acase. the body of haley owens has been found. police have not confirmed that. witnesses said the man forced haley into a pickup truck yesterday while the girl was walking near her home. >>> 7:46. rushing people to the hospital after a terrifying flight. it took off from san francisco. ktvu's pam cook is in the newsroom now to tell us what happened on board that flight headed to hong kong. >> well, for the second time in a week, a flight hit severe turbulence, injuring passengers. six people, two crew members were taken to the hospital. that's after a flight from san francisco hit severe turbulence over japan. it happened on a cathay pacific airways flight that went on to land safely in hong kong. some passengers are talking and tweeti

joining us on set is rich steinberg with signberg global investment management. john capital market group chief economist. thanks for being here this morning. rich, we did see the markets take off yesterday. we're back to levels close to where we ended the year. what do you think happens now? >> inge everybody has to take a deep breath back. the markets try to be binary, right? and it's not that simple. so i think now investors have to take a test back to their kind of risk levels and say how did i feel in january? i think we're going to -- >> do you think the declines that we saw at the beginning of the year were the head fake or do you think this is the head fake coming back up? >> i think the decline was a necessary head fake. and i think now we're going to get back up to our head above water. we're still sticking with the premise that we can see 1930 in the s&p by the end of the year. but it's going to be lumpy. >> 1930 by the end of the year, that's not a target in terms of gains from tend of last year. >> no, but 8% or 9% for where in the high net worth space wi