mark zuckerberg really trying to hit home on the point of efficiency.ll he's talking about how they have entered a different days of the company, they grew so quickly for the first 18 years, it's very hard to crank on efficiency while your growing that quickly. also talk about where they are growing in the longer term. it's toward a metaverse vision. they got their first victory. the ftc, a federal judge has denied the ftc request to block meta's plan to buy within unlimited. let's get to our guest who joins us from washington. extraordinary the fact that getting pushback in this way. many thought this was her trying to get aggressive and it's been denied. guest: that was surprising. the ftc can still appeal. have until probably next week to decide that. the judge gave them a one-week extension on blocking the deal until then and has called a hearing next tuesday. we will have more than about whether they will keep blocking to push this deal -- pushing to block this deal. she came into her role saying that the agency needs to be more aggressive, block m

this is a dull mark zuckerberg and 2023. there were some investors pushing hard and wanted to see a pullback in terms of capital spending. maybe we will see more job cut. they are talking about the middle-management that still perhaps is under a lot of focus in terms of the effectiveness of having that. really, ed, this looks like a fascinating overall call. i wondering if the share price reaction holds into tomorrow. ed: we will have to wait and see. analysts might sleep on it. caroline: that does it for this additional bloomberg technology. ed: don't forget a lot to wrap up on our podcast. check it out on spotify, i heart or apple podcast. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees.

david: so, if mark zuckerberg were here, would you say, "don't worry about us. a big competition to you" or would you say, "we're coming after you"? shouzi: i think for us, david, we are more focused on ourselves. i think over the long run, the biggest competitor that we have, as cliche as it's going to sound, is going to be ourselves. we have a mission, which is to inspire creativity and to bring joy, and we believe that our most important focus is to focus on delivering that mission. david: but let me ask you this. most of the large chinese technology companies, let's say alibaba, baidu, tencent, they have gigantic market values and they're very prominent in china. not as prominent outside of china as, obviously, in china and certainly not that prominent in the united states. tiktok, by contrast, is not in china, but it's gigantic outside of china, the united states, and everywhere. what did tiktok do that enabled a chinese-based company, parent company, at least, to do so well outside of china? shouzi: we think it's challenging to build a global company in ge

it's obviously something that mark zuckerberg feels he might be behind on. he's diving in. who was one of the original founders of open a.i., he's out of it now, he wants to start his own. he's apparently hired the google guy who was doing their a.i. engineering. what do you think of all of this, first, as it becomes this arms race. >> so i think that the most amazing part is that users are starting to use them, right? and this is where the disruption is -- just imagine that if there is a user, they used to go to google and search for stuff and they have got the promotion being done by google, right now we're going into chatgpt, and they're not going to google anymore. so, therefore, it presents a threat for google and their core business. and that threat is actually becoming very attractive for everyone else, right? so everyone is going into, you know, an arm race that are a basically saying, wait a minute, let's make shower that we get a say here. and i think at the end of the day this is about where the users are going and not where the technology is going. liz: yeah. le

ceo mark zuckerberg says areas are worked on in what he calls a year of efficiency >> there's going to be some more we can do to improve productivity and speed and structure. by working on this over a sustained period, we build a stronger company i'm focused onn building a bettr product. if our business out performs our goals, it manages our theme for the year >> the stock is set to open 20% higher and set to open at the highest level since june brian. >> well down from the 350 last year a little break anding b breathig room for the meta shareholders silvana, thank you >>> folks, see you in a few minutes. we will take a short break when we come back, insight from tiger 21's michael sonnenfeldt >>> and why it could be a big year on stocks why history says this may happen it is the rbi. you want to hear it. >>> later on and more than $1 billion later, the man over adani group losing over $1 billion in a week. we will tell you about it coming up that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and

i can distinctly mark zuckerberg -- distantly remember mark zuckerberg laughing at the idea we wouldn. it's not that much less than $20 per month and i get all of these services? i am not mad at it. ed: let's jump ahead to timing. you were at facebook 2014 to 2019. why is this happening now? this is a response from meta to the legs of twitter and tiktok, etc. laura: there are several reasons. there is the bought issue -- bot issue. they are focused on verifying identity, and this is a response and acknowledging the fact we had been paying for these services with our personal data. this is another way to do it, and this is something they've been trying to solve for a long time in terms of propping up some customer service. there are a lot of things going on. i don't see this as a huge cash cow for facebook. certainly not for quite a while, so i don't think that is the reason. i think they are trying to get back in the good graces of folks, and i think this is a way of them providing tangible services so people can see benefit from it, and they will feel as if there is a big exchange.

a 20% pop for meta as mark zuckerberg pivots to efficiency. best day since 2013. of three major earnings reports tonight apple, amazon, and alphabet coming this afternoon, dee. >> it will be a big one. welcome to "techcheck. we'll cover it all mixed day on the street.

mark zuckerberg is announcing a new team at meta working on a.i.p >>> and robinhood says its crypto unit is receiving a s subpoena. >>> and rupert murdoch say some endorsed false election claims. >>> and oaktree is looking for large equity takeovers the firm expects to offer loans of $500 million to leverage buyout groups. >>> the white house is giving government agencies 30 days to delete tiktok from federal devices to keep u.s. data out of beijing's reach. this is after the first hearing is being held today with competition with china and the united states. >>> as we head to break, we are celebrating black heritage with the cnbc teammates and contributors here is roz brewer >> we actually have more shared values than we really under st understand so many of us face trials and tribulations not only based on gender and race. what are those things that hold us back, but give us strength? outside my community, i love to have conversations of who we are at our core and share our lived experiences and find the commonalities and that race and gender has

mark zuckerberg says meta has a team dedicated to building ai tools for instagram, messenger and whatsapp. he said the company is working on ai experiences with text, such as chat with messenger and whatsapp, experiences with images for things such as creative instagram filters, as well as video experiences. meta isn't new to the ai world, it introduced chat box back to messenger in 2016. and a self-driving taxi without a driver in los angeles within the next few weeks, the next step on the path to commercializing robo taxi service. initially only employees will be able to hail rides and they'll start service in santa monica before ramping up to other neighborhoods. the company has been allowed to start charging for services such as delivery in san francisco, guys. still don't know how i feel about driver-less, no person in there. >> makes me a little nervous. >> thanks, silvana. >>> 4:44 this morning, and we continue to discover black heritage, the series that we have. we take a look at why therapy has been a taboo among the black community and we'll talk with a counselor on h we canow >

mark zuckerberg confirmed a renewed focused on efficiency. tania is joining us to discuss the conversation i know you discussed many things the highlight for the week was the stock performance of meta. strong rebound >> absolutely. beyond any expectation i was talking about a new initiative at davos this year ahead of world cancer day which meta is a founding partner of. i asked about the reaction for the earnings for meta in the fourth quarter. >> 2022 was the critical year because we were able to demonstrate we didn't just have a plan, but the plan was working and we have proof points to show it especially around investment we have made in ai and machine learning they really starting to payoff we saw 20% more conversions than the prior year we are leaning in with advertisers to get efficient about the investment in the ai powered products this is an area that we are going to be doubling down on we're doubling down because we know growth and efficiency are the things that are top of mind for advertisers. you know, we are combining that with

mark zuckerberg claims the new feature is about increasing authenticity and security. want your money. the service is very similar to twitter blue, which starts at $8 a month for that blue check mark. $11 a month for iphone. other services are giving you a catalog of music and tv content unlike instagram and twitter are users create the content. joining us now, our business and tech reporter scott budman. just to be clear now, this is a paid service. it's optional. so i can still use instagram and facebook for free. >> reporter: absolutely. just like we did before. this is a different tier. >> why am i giving mark zuckerberg money for this? >> reporter: first i'll say why. he is saying here that if you do spend this monthly fee of about $12, you'll get increased range on your facebook and instagram posts. >> okay. >> you'll get access to customer service. that's frustrating for a lot of people who haven't been paying for it. and they say you'll get more security. but i really like this thing you put up here behind you on what you get from spotify and netflix. all of th

ah, mark zuckerberg could some of the 21st century coups be blamed on facebook. right? like i'm not trying to be sued for a liable or slander, so i won't lay these issues squarely at his feet, but nowadays regime change operations happen right before our very eyes on social media. scott ritter is joining us again. scott, thanks for sticking around. still want to talk about so in the 20th century, a post mortem of places like iran, 1953. she lay 1973, bolivia, 1980 iraq, 2001 libya 2011. and i believe future historians will refer to ukraine in 2014 as an example. all had so called us intervention in lieu of the term coo or regime change operation. what's been the result of us intervention for some of these places? well, 1st thing is, none of these places emerged better after the u. s. intervention than they were before us intervention. everything the united states touches when it comes to this kind of activity where there's a dies. there's not a single example where the united states went in and touched the country and said, i'm intervening to achieve a change in regimes

there's a ton more to unpack here, coming up next, can we blame qu on mark zuckerberg? we'll examine the role of social media in modern day cruise. we're going to discuss it when we return that type, the em out will be right back. i ah ah, to come to russian state to never outside us on the north landscape with within the 55 with us be the one else holes with we will ban in the european union, the kremlin media machine, the state on russia today. and archie spoke back to even our video agency, roughly all brand on youtube. and it says with for mark zuckerberg could some of the 21st century coups be blamed on facebook. right? like i'm not trying to be sued for a liable or slander, so i won't lay these issues squarely at his feet, but nowadays regime change operations happen right before our very eyes on social media. scott ritter is joining us again. scott, thanks for sticking around. i'll still lot to talk about. so in the 20th century, a post mortem of places like iran, 1953. she lay 1973 bolivia, 1980 iraq, 2001 libya 2011. and i believe future historians will refer t

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on meta, i would not expect mark zuckerberg is going to retreat from the meta verse dialogue i think it's going to remain a heavy investment year on the metaverse for 2023 and i think you'll have some proof points on product as you go out of '23 and into 2024. but turning to the core product, i think an improvement in the revenue trajectory, and little bit more dpiscipline around the core apps family, that is what's going to be the incremental driver and could be the incremental driver of the revenue trajectory that i highlighted earlier. >> interesting because we were just talking about this, eric, a desk note from a competitor suggesting that they trim the capex range by a couple billion, feels like 2 billion is needed for the stock to continue to work. you're not playing high odds on that >> i think there's some rationalization that could happen on the capex budget and the opex budget. i mean, as we track things globally, there are corporate real estate projects, data center projects that they're clearly either delaying or potentiallily canceling that we track. there could be a do

$40 billion, what would you want to buy >> if you were mark zuckerberg. >> if you're mark zuckerberger you want for $40 billion, fun game to play what with yould you buy >> that's a highly -- >> i would have to give that one a bit of -- what could facebook buy that would make sense right now? i mean, i'll tell you what i thought they might want to buy, and what drove the metaverse, something like roblox, maybe that gets you certain things you don't have. >> not twitter. >> no. not twitter. pinterest? >> if snap busted -- >> no. i mean, you might argue that takes a competitor out but facebook doesn't need -- meta doesn't need to do that >> meta doesn't buy big companies. meta buys nascent companies and grows them that's what they're good at doing. i think if mark zuckerberg had $40 billion with no regulators, he would buy all these startups in ar, in ai, in -- >> he shouldn't, though. >> i wouldn't do that if i were him. i wouldn't buy a media company either right? >> that's your next -- $40 billion, one end or the other, you tell me. >> i'll come back to you with an answer i don't kn

guest: -- ed: in one example, mark zuckerberg was asked about generative ai.is point was telling as it extends to the metaverse as well that he is equally as excited about those things, but in his words not the expense of efficiency. all told across 2023, meta cut its expectations by $5 billion. again it's the same story we got at the end of last year, long-term their tradition -- transitioning to the metaverse. but they have slowed down in terms of what they are spending to do that and reading behind the lines, they are looking to cut out some layers of middle-management. >> review surprised that after all of those concerns, facebook did manage to continue growing their user base? ed: surprised because if you think about facebook itself, it is a 20-year-old platform. i don't use facebook anymore, i use instagram a lot. that's kind of the story of this generation of social media user. it was a surprise because of its age, but the sales side is pointing to the product changes that meta has made for facebook and it seems to be gauging -- gaining traction. >> ed

it, they thought it was going to get approved and they sent it to mark zuckerberg and surprised them by saying, no, he didn't like it he didn't like he was worried about several aspects of it. one of them was he was worried that it would cannibalize his other forms of engagement so people could just like then why would they craft a thoughtful reply, right. or why would share something so and but he also didn't like the name awesome he thought it should be like. and the project got tabled it sort of like lost its momentum and it was it did it kind of languished a while and people were like i don't want to work on that it's just going to get shut down again. so it didn't get really taken up again for another year or two and finally implemented think in in 2009 so it was in it was the project was considered curse they call it the curse of the awesome button because nobody could figure out how to do it in a way that would get approval from the top or that would work in all the ways it needed to work. yeah. so this was this, that like if we hadn't done, someone else would have. i mean, i

senators express their concerns to mark zuckerberg over risks of developers having access to user datapers in countries characterized as high risk had access to significant amounts of sensitive user data. the senator said staff help meetings with company execs to see who could get the data and what facebook land to do about it with regards to protecting users'information. let's stick with meta-. the company is asking many of its managers and directors to transition to individual contributor jobs or leave the company as it tries to become more efficient. joining us as bloomberg's sarah who broke the story. the mass round of layoffs, i imagine there are a number of employees who have been waiting for the ax to drop in this case is very specific roles that mark zuckerberg seems to be going after. >> ever since those 13% cuts in november, the historic time for the company you have seen a number of other rounds of layoffs in your thinking what's coming next? are we having another round? amazon had another round there is a thinning of the ranks happening at meta as we speak. managers are get

this week mark zuckerberg says it'll increase authenticity and security across methods platform. let's go a little deeper into this with bull street tech analysts dan, eyes are wet, bush security is always great to have you on the program. so i'll just try to work out what subscribers are actually going to get for this $11.99 a month. just verification. well look at 1st. that's what it seems. i think in terms of the authentication, the security, i think most users are really going to sort of shun that. i think the question is how many ultimately sign up? i mean we, they're in the well and it could be 3 percent on the high and 7 percent. but when you look at meta and facebook platform, they're facing headwinds. are looking for more modernization. they're falling twitter and must pass on the verification. there's always been, or it's at least felt that way they sort of trade off the users have been willing to participate and which is i get the product for free and you get my data. is that a model that is now changing? well i think that ultimately is how this whole business model ch

do you think of the year of efficiency with meta what does it mean for broughtbr tech >> it is mark zuckerbergis the best ceo in tech right now. pro promising he will deliver what the market wants meta really did not slow down spending the company still spent $4 billion on meta. he spent $12 billion for the year he is not pulling back that much on spending, of course there were layoffs what they wabnted to hear is thy are listening. zuckerberg had the commitment to continue spending and losing money without regard for the market by saying this is the year of efficiency, mark zuckerberg finally said i'm paying attention. i know what you want i'll give it to you. the rest of the tech ceos would do well to follow suit with the message. if the business results are not the same. >> one thing i want to touch on is the nasdaq down 1% in pre-market a lot of fear the fed will do more tightening. what does friday's jobs report mean for tech? the job total is three or four times higher than people expected mark >> the biggest headwind facing tech is the aggressively rising interest rates we went through

meta-sores after hours as mark zuckerberg's vow of efficiency transforms sentiment. apple, alphabet, and amazon, report later in europe, race yourselves or a flood in -- plus, the adani stock accelerates nursing the indian billionaire to pull a record equity offering. we are crossing the terminal now, deutsche bank, fourth-quarter, fixed income and currency sales and trading revenue 1.5 billion euros that was amiss versus the estimates of 1.6 billion euros. that is the redhead crossing on deutsche bank. fourth-quarter fic sales and trading revenue coming in at 1.5 billion euros. the estimates for 1.6 billion. we know there was a focus on the fixed income trading part of this business. and also, the outlook for the year, how they are doing in terms of net interest rates. we bring you that. net income from a 1.8 billion versus 145 million. year on year for the first quarter. one point 8 billion euros versus 145 million. not interest expenses coming in at 5.1 9 billion versus estimates of 4.9 billion. not interest expenses coming in higher than the estimates. deutsche b

. >>> and two top lawmakers raise worries over mark zuckerberg "worldwide exchange" will tell you all about it as we roll on right now. >>> welcome or welcome back. good tuesday morning 5:30 a.m. on the east coast. thanks for being with us or listening on our podcast later on today happy afternoon, i guess let's get to the markets futures are a little higher across the board not a lot. dow futures up a touch up 37 points nasdaq could be the star nasdaq futures up 56 points. dow is down three sessions in a row. well up for the year overall, dow down three sessions in a row >>> speaking of markets, you know it has been a good start to the year do you know how good it has been for many investors who had the brains or the guts to get into tech or a few other stocks late last year? first up, the nasdaq 100, the qqq and that nasdaq 100 index is up 14% this year. that is the exact opposite of what happened last year. remember last year to start the year, tech got destroyed in january and february this year, completely flipped. check out stats that we put together just for you, loyal viewer a

dani: i was really struck by looking at mark zuckerberg.is massive rally yesterday, calling it the year of efficiently. i wonder how we now think about these companies long-term strategy, given all of what you've just described. aggi: it set the tone for what investors wanted to hear when they said that they would be committing to efficiency. that's also the case for alphabet and i amazon. when we look at their longer-term strategy, they are trying to see the ways in which they can secure profitability going forward. for alphabet, it seems that they are wanting to make big bets on ai as well, to make sure that they are able to be competitive in that space against microsoft. they are researching in those areas but they may have to bring those products to market much earlier because of microsoft's recent agreement with open ai. with amazon, it's a question of what they are able to do in order to gain that market share of digital advertising away from alphabet. if you look at the squeeze consumer space, amazon focuses job cuts on that area of

mark zuckerberg says it will start on the web.nch in new zealand later this week and rollout in more countries after. to avoid fake accounts, they will let users verify accounts using a government idea. do you care that much? >> no. [laughter] >> people know who you are. >> short answer. >> that's all the time we have. continue >>> tonight, we're following developments in several stories. new concerns that china may supply weapons to russia in its war with ukraine. plus, breaking news. north korea just launched another ballistic missile. and the death of a catholic bishop prompts a murder investigation. >>> we begin with the war in ukraine. as president biden prepares for a high-stakes visit to the region soon to mark one year since russia's invasion, a warning from u.s. officials that china may soon give russia lethal aid. what we know about the kremlin's planned nuclear drills, and what makes the timing important. patrick reevell reports tonight from ukraine. and that news just coming in from north korea, the regime launching an

ceo mark zuckerberg blamed the layoffs on aggressive hiring during the pandemic. new this morning, san francisco representative and former speaker of the house nancy pelosi is making an endorsement in the race for dianne feinstein senate seat on one condition, ktvu learned representative pelosi is supporting southern california representative adam schiff. if senator feinstein decides not to run again. representative pelosi named adam schiff to lead the first impeachment of the president donald trump in 2019. he's one of two candidates have officially announced they're running for the seat currently held by senator feinstein, who has yet to say whether she will seek re election in 2024. after two recent deadly mass shootings . california lawmakers want new gun legislation that would expand concealed carry gun loss. the proposed legislation, which set strict and enhanced limitations on who can get a concealed carry permit and where they can carry guns. lawmakers behind the bill touted that california's laws are working but still have room for improvement. the state

mark zuckerberg must be relieved after this rally. in the mix for metta in the earnings and what zuckerberg had to say? tom: ava lost half of the value of their shares so massive a jump yesterday but it still only a sign of relief from arc zuckerberg. what was in the mix? they repeatedly hammered the message that it's the year of efficiency. we sought more than 10,000 job cuts and they hinted more on the way so be aware if you are a middle manager. at the same time there is a growing platform in terms of users. it's remarkable because it's been around for -- well over a decade. francine: we talk about technology stocks day in and day out. very cautious. are there packets where we will see growth? tom: the biggest bet for risk and reward is ai. with mehta it will be recommendation ai. they are trying to make reels as addictive and sticky as tiktok. yet to be seen whether that will be true. mark said he's interested in generative ai. that is coming out with songs and text. he said he's interested in that as well. tom: thank you very muc

i think mark zuckerberg may be pointing that out now on the call i think it will be interesting to talk their expenses, whether they'll have more expense constraints. mark zuckerberg made it clear, but does this mean now maybe he'll spend slightly less in that's certainly a key area to watch. >> julia, thanks along with the market, but outperforming the market, still down pretty sharply with a $336 stock at the end of 2021 look at amd, surging after better than expected numbers a 43% -- the first quarter guidance summing in a bit light, amd's lisa sue joined us earlier, and prescribed a rebound. listen >> that's what we're seeing as we go forward. >> mike, market likes what they heard, likes what they saw here, a big contrast to intel and others what did you take away from amd? >> no doubt that amd management certainly has more credibility, better market share dynamics going into this. if you can start to pencil in the idea we're troughing right now po pcs, you can see the light at the end of the tunnel looks like it's -- you put it all together and say it makes sense, especially on a d

mark zuckerberg more focused on certain things all of that driving a 26% rise in meta platform shares. remember, it lost 40% of its value over the year, but that trade playing out big in today's session. we'll see if that carries over into other parts of the tech trade later on today >> thank you, dom. facebook or meta telling us things aren't as bad as feared, or mark zuckerberg is getting better at changing the narrative for the naysayers. let's get into the next earnings tonight, with the action story and the trade in earnings exchange we'll start with apple they are coming off its worst year since 2008 with a 27% drop. shares are higher today, up around 150 again, and they have risen after tree of the last four reports steve kovak is live with the story on apple and kim forest is ceo of boca capital partners steve, what are you watching >> it's all about how bad was that quarter -- last quarter because of those production cuts we know happened in china? not enough people were able to get their iphones in time for that holiday quarter where they typically sell the most iphones. and

a 20% pop for meta as mark zuckerberg pivots to efficiency. best day since 2013. the nasdaq surged 2% yesterday another 2% today all ahead of three major earnings reports tonight apple, amazon, and alphabet coming this afternoon, dee. >> it will be a big one. welcome to "techcheck. we'll cover it all mixed day on the street. the dow is falling but the nasdaq ripping it certainly is. better than expected results from meta. improved sentiment around tech shares the nasdaq is up nearly 3% on the s&p 500 up about 1.5%. the dow industrials under water by a little bit. that move higher coming on the back of the fed-fueled rally yesterday as the fed started to acknowledge inflation is slowing. nasdaq is up 4.5% this week. consumer discretionary, those are the sectors leading. energy and materials are lagging. >> we'll start with the efficiency mep talty at meta today. some people make new year's resolutions every january claiming this is their year but meta seems to mean it this time. stock surging, on pace for best day in a decade. the year ago the stock saw its worst d

mark zuckerberg is pretty good opening his mouth announcing much of anything. that is true. longer the ceo of twitter famously said we do not shadowland. we do not censor conservatives in any way. he said that under oath. i don't think ultimately they're going to say too much to damage their own companies they do have to answer to the stockholders. we have seen this before in the past will probably see it again not a lot of transparency from the ceos a lot of sound and fury and provocative soundbites will see on the news later that night. but what will ultimately changes the big question. >> fastening as you point out larger mainstream legacy media outlets don't seem to be treating this as a big deal. >> absently not. it's almost as if they are just echoing the democratic talking point this is weaponization of the gavel. and nothing more to say here, jon. will: good to see you. >> good to see you. >> visits this week to the southern border, high-ranking members of both parties on capitol hill. will a firsthand look have any impact on the migrant search? a report from the bor

mark zuckerberg is committing to this leaner company but they spent more than $4 billion on reality labs you wonder a little bit, okay this is great. almost the adverse when they missed and went down 26%, we're getting the flip side of that. they have a brighter outlook and are up 23% i think the investor needs to see what's under the hood had afternoon. for right now it's risk on you have the nasdaq up 20% that's a bull market it could be the start here >> so are you buying today >> i would rather be late than early. concern on aws >> yeah, the cloud >> absolutely. with microsoft coming in weak, aws, and what profit margins look like with apple and fx and what macbook sales and google, snap came in light, facebook a little bit light what does ad revenue look like for google call me old-fashioned, but i like to see what's under the hood it's risk on the junkier and crappier, the more you're rallying there's no reason for those stocks to be rallying in the face of these macro head winds >> right so, paul, financial conditions are loosening, right fed chair powell yesterday did not seem th

jack otter: earnings report from meta that pleased investors a lot, they think mark zuckerberg is gettingerious, not putting all his eggs in the meta verse, tell us what we heard and what we hear from other companies, not so great. carleton: shares went up after posting earnings, after a brutal third quarter, the company lost a quarter of its market value last time it posted earnings, it has to cut costs, shareholders like that it answered capital to shareholders but the other side of the tech sector was a little bit more challenging, companies like apple, amazon and alphabet, posting mixed results, slowing growth, things like that, stocks did not go so well. and the market might be getting a little later on these tech companies, many of them announced layoffs, we get great economic data, or in the case of amazon, sales of iphones, using supply constraints, i'm not putting them in the hot garbage category. jack otter: amazon, and it didn't make money. it seems like a gimmick, what do you see about that? carleton: they were delivering 30% revenue growth, a maturing business. that is what i

yes, meta platforms says it has increased the security allowance given to ceo and co-founder mark zuckerberg and his family by 4 million dollars to 14 million dollars on the company says the increased security is needed due to zuckerberg's high profile and recent job cuts at the company. well, twitter quietly rolled out its latest major policy change under a law this week becoming the first major social media platform to allow the advertising of cannabis products and u.s. companies do have to be pre authorized by twitter to advertise where they are licensed to promote their products online. and chipotle will launch a new spinoff restaurant called farm s a the menu will feature proteins, greens, grains and vegetables inspired by police food with integrity standards. no word on exactly when or where that first one will open and $20 for a first who has become the norm and plenty of households around the country as the treasured to ferry childhood tradition is impacted by inflation. the latest data from delta dental found the average cash gift. it's $5.36. a tooth. and that is a record high in t

mark warner coming up. and as meta's zuckerberg goes heavy on a.i. and light on the metaverse, facebook whistleblower frances haughen is here on whether chatgpt might worsing the problem -- worsen the problem by letting artificial if intelligence take wheel. first, does in the optimism on the ticker you see right now especially with tech show that tech is back on track, sor should you be selling into in the rally right now? to the floor show is, longtime meta trader teddy weisberg, and scott redler, trader, joining us. teddy, you've been recommending meta through thick and thin. does this mean tech as a whole is back on track, or should investors be selling into this rally? >> i think we've gone from a near death experience not more than six months ago when the stock was trading at $88, and here we are today, it was actually up to 196 today. we've gone from way oversold perhaps to way overbought, maybe time to take a little money off the table. it's amazing what's happened in a matter of six months. it used to take the 50 years to see these kinds of

not a chance part of the reason i'm in this company is because i believe in mark zuckerberg. i love founder led businesses and ultimately it's his decision he controls the business had he not gone in this direction, i have a choice i can sell my shares and i can move on to companies that i think are pointed more in the right direction. but far from doing that, what i've seen out of this company doubles my belief in why you want to be behind founder led companies, because they can move quicker when the leader acts for me it was never a choice around trying to shake up the board or anything else it was really about trying to send a message not only to meta but, frankly, to reflect the voice of all silicon valley. we talked about this on the all-in pod last fall all of silicon valley had gotten really intoxicated by zero interest rates unfortunately, that meant the cycle time on invention, on productivity, it's a well kept -- it's a well-known secret in silicon valley whether it's google or amazon or meta getting new products in the market slowed down it didn't accelerate i love

the year of efficiency, as mark zuckerberg calls it. what do you see for the economy? you have macro views and you get a pretty good window through your portfolio companies are you in the recession camp? and how deep and how long? >> the word that comes to mind for me is resilience this economy is just fabulously strong i mean, we've been through the whipsaw of covid we've now seen unheralded, the most tightening you've seen since the 1980s. we have 50-year record unemployment levels. and it's just so hard to predict. so clearly, the economy is softening and people are making due, you know, stretching their dollars, so to speak but it's very hard for me to predict whether or not there will be a recession. >> ai? we were speaking of efficiency, i see bill gates today on a podcast, said that he thinks it's going to be probably the biggest thing of the decade. is that going to move the needle on at least productivity and get us to a place where we don't rely on every little tick of labor force participation that we can get >> absolutely. i think ai is a wave, a technology

decline, double digit decline in profits, but wall street seems to latch on to the fact that mark zuckerbergut all that and instead he talked about the fact that the company wants to focus on efficiency. the company in november laid off 11,000 workers. and he talked last night about the cost savings that the company wants to make in the next year. >> and we're focused on becoming a stronger and more nimble organization. they have already laid people off, so wall street is liking the talk about efficiency. another big win for meta, 2 billion daily active users? >> exactly. a 4% jump from last year. and this is a good sign for the company after there were concerns last year that facebook could become sort of the stodgy old platform that wasn't going to keep growing. it has been struggling with competition from tiktok especially. young people just don't seem to want to be on facebook. but the company has made some changes in the last year in a lot of ways making facebook a bit more like instagram introducing reels and recommended contents. and it seems to be paying off. >> nice to see you clair

mark zuckerberg said the program called meta verified will increase security and authenticity to qualify users. you must be at least 18 years old. they also have to meet minimum account activity requirements, and submit a government id that matches their profile, name and picture. >>> thousands of gyms across the country shut down during the pandemic. many of them for good. as michael george shows us, fitness centers are making a comeback. >> reporter: she almost never misses a morning workout. when the pandemic began and jim shut down, he like many other started to exercise at home. but it just not was this the same. >> it gets stale and you realize that you are nowhere near where you are from a fitness perspective pre- pandemic. >> reporter: gyms were among the hardest hit businesses during the pandemic. a quarter of fitness center shut down completely. it was especially tough on smallejams like body blueprint in new york. >> we lost a good chunk of our business. about 80% of our people. >> reporter: the general manager says now, finally, he is seeing members return. and a surge of new

path for facebook to go forward and the path was something called discipline well, last night mark zuckerberglowed that path except he called it efficiency he changed his stripes he's not spending like crazy anymore. he's firing people all over the place. we don't want that but it's working. and he's spending time away from the metaverse in reels and instagram, even whatsapp and that's what i wanted after today's monster 23% gain the stock's now more than doubled from its lows if you held on. if you suffered, you got the gain if you suffered you got the gain that's it. of course ideally you would have sold all of these a year ago but getting back in is hard. almost no one is that nimble that's why i always tell you to buy and sell in stages we sold nvidia and facebook at much higher levels and bought some of it back in anticipation of the eventual turnarounds. and they came. we took the pain and we gained but now we've got a whole new set of pain. tonight amazon, alphabet and apple all reported and i think you have to accept the fact these were not meta. they all ran in anticipation of being