first up is mark arnold. [applause] >> second up will be myrna garden.applause] >> stephen downey. [applause] >> tina howard. [♪] >> my when. [♪] >> adrian down off. juliana lara. [applause] >> my lemar sc peter ong. kale so lease. [applause] >> nicole then how ten -- nicole then -- >> last but not least, wayland wu. this is cycle 19. give them a big round of applause. thank you. >> that was fun. congratulations. we are going to acknowledge a few partners. d.p.w., dixon and associates over there. local 12, local 377, s.f. jay apc, the architectural foundation of san francisco, herero builders, san francisco building and construction. come on. >> congratulations. now we will have remarks from romero, the city build academy coordinator. >> hello, everybody. i am guillermo and i am the coordinator of city build, of city college san francisco. i would like to acknowledge our faculty. i am here to turn in all the sick -- certificates for the city grilled -- city build graduates, cycle 30. we will start with james brown. [applause] [calling names] [cheering] [

and last but not least, mark miller, executive vice president of health care at arnold ventures, where he leads the organization's work to lower the cost and improve the value of health care. mark has more than 30 years experience in implementing health policy. he was previously the executive director of the medicare payment advisory commission and held leadership positions at the congressional budget office, cms, and the office of management and budget. he holds a ph.d. in public analysis. so thank you again to all of you. with that, i'm going to go ahead and turn it over to karen pollitz to get us started. thank you, karen. >> thanks, sarah. good morning, everyone. good morning to my friends on the panel. it's great to be reunited today. i brought a packet of slides, which are not going to be broadcast, so apologies. i'm not going to go through all of them, but i thought i would go through a little bit of background to discuss this issue and set context and talk about the bills that we're then going to spend a lot of time discussing today. the first slide in your packet is a reminder

mark zuckerberg dropped 39 spots this year. and there's a new member of the $100 billion club. bernard arnoldd bill gates in the world's most exclusive wealth club. the chairman of lvmh entered the ranks yesterday as the company's stock rose nearly 3%, increasing his net worth by almost $32 billion this year. his net worth now equal to 3% of france's economy. that's what's happening now. cheryl: tracee thank you. lauren: a.lauren: president tp suggested he could consider demoting fed chair, jerome powell. >> let's see what he does. i can tell you that draghi in the eu, if you look at what's going on with the euro, they have a much different stance than our folks do. lauren: joel griffith is a research fellow at the heritage foundation. thanks for coming on this morning. >> thanks for having me. lauren: the first part of the sound bite, let's see what he does, that's a veiled threat to jay powell, is it not? >> it could definitely be construed as much. the chairman of the federal reserve cannot be removed without cause. i think it's safe to say the chairman's job is safe for now because curren

mark crumpton. this is bloomberg. david. david: word came yesterday that u.s. antitrust authorities have apparently divided of responsibility for new investigations of google, facebook, apple, and amazon. baer, now aill partner at arnoldcome. good to have you with us. >> nice to be on the show. david: we saw a pretty abrupt reaction in the market to these stocks, on the reports that they would start an investigation. let's take a step back. what is required before you start an investigation? if you are back at the department of justice, what do you need to find before you start an investigation? >> i used to work at the ftc as well. you have to have some good reason to believe something bad might be going on. , competitors, people downstream who buy the product will come in and complain. if that happens, you study a little bit, do some online research. you may want to open an investigation. because we have two antitrust agencies, federal trade commission, doj antitrust division, they have a clearance process. we have an issue we want to look at. according to the press reports we saw, there appears to have been a discussion about which of these very successful platforms to be looked at, and by which agency. that is the