and could the secret to paypal?'s revival be we'll speak to one analyst who says it's a match made in heaven. but first to our top story, "wall street journal" reports warned president trump not to intervene in the cfo.st of he suggested to reuters on tuesday that he might be get if it helpsthe case to secure a strong trade deal with china. bloomberg for more tech, who recently wrote about uawei's ambition, we'll continue to get react from the chinese government including a official who wrote an op a premeditated political action. tell us more. > he's in a particularly tough spot. we're seeing a lot of activity media on china. i think the chinese government, like the journal reported, has a lack of clarity about what the administration is doing. this is a doj matter. clearly wants to get more involved and use it as a chip.ining from what i understand, with the u.s. tech companies it's very ense and there is a lot of concern about retaliation. >> he has orders from a japanese why?ier, >> my sense there, we're reportin

how could paypal help them? this book looks to change its narrative from the controversy around privacy and revenues. one area for expansion is expanding into online commerce, and that's where paypal can really help play a role. facebook has this extraordinary user base, 2.6 billion users globally, with many avenues where they could potentially drive e-commerce over their platform but haven't to date. shows i have a chart that the two stocks diverging, and this yellow line here in the middle shows where facebook missed on earnings over the summer. give us more specifics about how you think facebook should be filed this partnership. lisa: we have identified three areas in particular. number one, paypal could power payments to start to drive more commerce through the whatsapp that form similar to the chinese competitor. the second is in facebook marketplaces which is currently more of a craigslist style marketplace, that they could turn that into an e-commerce platform with paypal powering the platform, similar to

i had a front row seat to paypal and the great things that happened there.inding the right partner to do this, and we can't leave out renaud, our third cofounder, but it just felt very natural. we were not entirely sure how it would work out, but it is 10 years later. here we are. emily: did you set ground rules, who does what? what happens if we get into a fight? julia: one of the best things we did was find renaud, our cofounding cto, and i like to say the bravest person on the planet. as we started to work together, we had this agreement that we would, first of all, divide and conquer, and that we would also always check in. i was the customer support, marketing, and finance department. kevin was the product department. and renaud was the engineering department. we were just three founders for two years. emily: why events and ticketing? why did you think that the problem that had to be solved or had so much potential? kevin: it was addressing this market that had been unaddressed and kind of left to itself. and what is exciting about eventbrite is we were

paypal became the inflection point in my career.you had asked me, would this became the inflection point, i would say absolutely not. that serendipity of the depth of connections of the people you work with, live with in your life, is the kind of thing that can lead to amazing opportunities. avid: thank you so much. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. ♪ there's no place likargh!e ♪ i'm trying... ♪ yippiekiyay. ♪ mom. ♪ ♪ emily: i'm emily chang and this is "best of bloomberg technology," where we bring you all the top interviews from this week and tech. coming up, trade truce tensions? presidents trump and xi dial it d

well, tom knew that wasn't true, but he had no way to appeal paypal's si says paypal's decis final.o tom turned to us. we asked paypal to take another look. week later, it restored the $125 to tom's account. paypal told us "our dedicated customer service team has positively resolved this matter with mr. hanley." call us any time, 888-996-tips, or visit nbcbayarea.com/responds. >>> 6:25 for you right now, and new this morning, turns out for some people, anyway, legalized marijuana is giving new meaning to the term high holidays, because when it comes to giving, industry leaders say that more people are giving the gift of marijuana. >> we also have merchandise in the store to help guide people through their purchase of finding the right gifts. it might be price point. it might be by the type of recipient, so someone who is into health and wellness, who is looking for an anti-inflammatory product, someone who is new to cannabis and might want to try a product high in cbd. >> ten states, including california, have legalized pot. ahead on the "today" show, the growing popularity and the

it says, paypal's decisions are final. so tom turned to us. we asked paypal to take another look. account. paypal told us, our dedicated customer service team has positively resolved this matter with mr. hanley. got a consumer problem? call us any time. 888-996-tips. or visit nbcbayarea.com/responds. >> they are the best. >> they really are. >>> okay. we've been talking about the weather today. we saw on your cameras some of the raindrops. >> along the san mateo bridge. i don't know whey i had a bay bridge banner. if you were watching that, i do know the difference between the bridges. in other parts, it looks like the rain is gone, but it is not. don't let it fool you. so this is what it looks like right now in downtown san jose. you can see the beautiful christmas tree, and christmas in the park there. current temperatures right now, 61 degrees. it's cloudy out there, but look at this shot of san francisco. where did all of the clouds go? where is the radar? well, don't worry. we're still tracking rain. that is, if you wanted the rain. look at satellite radar right now. what's h

paypal became the inflection point in my career.f you had asked me if this would become the inflection point, i would have said, absolutely not. the idea will not work. that serendipity of the depth of connections of the people you work with, live with, in your life is the kind of thing that leads to amazing opportunities you just didn't see. david: thank you so much. reid: pleasure. ♪ is manus: carol: welcome to bloomberg businessweek. we dive into the second annual bloomberg 50, the people driving change this year. plus, the cash trade dragging down

we've had both founders of paypal on. weave had reid hoffman, sat in that chair, wozniak has sat in that chair. i've done the calculations. you are on paper worth more than all of them combined. >> i'm aware of those reports. i come back to, i do think we're creating something trfg. i was out here in 1997, the birth of the internet. the movement happened around blockchain, around digital assets is very similar. you'll see lots of use cases built. we're trying to build ripple into a company -- >> i wish you so much luck and we're not listening to you because we're thinking what would it like to be $9 billion? >> i'm thinking scottcoin now. >> scottcoin is going to be run on the physical ledger, right? >> it will just be me. i have to sneak in one last question. are you going to be on coin base, the popular way of buying cryptocurrency? there's speculation that -- you can buy xrp now, but not easily. >> there's about 50 exchanges around the world. listing xrp and having lots of liquidity twoen xrp and fiat, that's a very im

so paypal is really benefitting from allnl thesee payments. and if you look at the numbers for thanksgiving weekend, online, whether mobile or at home on a pc or laptop, the transactions were up 28% over thankegiving w. so the online portion is taking more and more anare. this is where they benefit. this is another one that trades at just one timeshe growth rate on earnings the next two years. we see about 20% upside in paypal we like the whole fintech space. >> i see that. yes. mary anne. thank you for joining us. >> thank you. >> and to read more about her picks you can head to our website. >> coming up, dialing up the heat, a hot start-up that wants toeep your coffee steaming >>> here a look at what to watch for next ke. on monday, we'll find out if auto sales got a lift from early holiday promotions. on thursday, numbers ofpec may face the biggest test when they meet to discuss oil production policy. and on friday, the government releases the monthly employment report, a release that thayfed will beg a lot of attention to. that's what to w

it says paypal's decisions are final. period. tom turned to us. another look. a week later they restored $125 to tom's account. t they told us they have positively resolved the matter with mr. hanley. here is an important change tom made afterward, added two factor authentication to his account. it adds a second step to your log in. it sounds like a hassle but makes it harder for chiefs to access your account. there are tons that offer two fa but most people don't use it. do check it out for all your digital accounts like tom did. call us anytime. i love those bank apps, they tell you right away. >> how paypal, because they're right across the street from nbc? >> i took a little we like to do it in righting. >>> shake shack is officially open in the bay area. the popular burger chain open today in the first bay area location. they say the bay area restaurants will have their own local flare. >> here in the south bay area we also are using a special bun, a sweet potato bun on a burger using grass fed beef from up in northern california. >> it's a g

this is the general manager and head of north american small business at paypal. if anyone knows thou get people to shop, it should be you. >> we definitely have some tips. >> all right. so let's start. i used to work for an e-commerce site back in the old days. the problem we had is that we get people to come to the site and then we'd see abandoned cards, come to the site and leave. there are just these little things you can do that get people to actually purchase. let's start with that. number one. >> so i think it starts with finding customers. the number one thing is as we talk to millions and millions of merchants, the biggest thing they struggle with is the world is evolving. where are the customers going? everyone is used to paying for key words. consumers say 30% of their time is spent on social, the facebook, the pinterest. start advertising in those channels. a couple key things we advertise, one is obviously make sure that your site is mobile ready. 40% -- last year mobile grew at 40%, far faster than what's happening on the desk topside. it continues.

this is the general manager and head of the north american business at paypal.f anyone can get someone to know how to shop, it definitely should be you. >> we definitely have tips. >> i used to work if an ecommerce. the problem is we would get people come to the site, leave abandoned carts, come to the site and leave and there were little things that could get people to actually purchase. let's start with it. number one. >> it starts with finding customers. number one, as we talk to millions and millions of merchants, the thing they struggle with is, hey, the world is evolving. everyone is used to paying for google key words and stuff, but today to given you a stat, consumers, about 30% of their time is spent on social, facebook, pip trefpi -- pintere. the idea is getting them into your store. that's number one. a couple of things. make sure your site is mobile-ready. 40% last year mobile grew at 40%, far faster than what's happening on the desktop side and this continues. if you have a site that's not only mobile optimized but mobile-ready to shop on those 5-in

consumer stocks in the downturn foretell anything about consumer sentiment >>> when we come back, paypal levchin is with us >>> first, look at the best performing names so far in the session. boeing, dupont, nike leading the way. oil off 260 after closing below 50 for the first time since august of '17. and our unlimited plan really takes things to the next level with your choice of the best in tv, movies, or music. it's the perfect holiday upgrade. i know what i'm asking santa for this year. you still write letters to santa? no. please. i send him emails. can i get his email address? oh... i don't feel comfortable sharing it. get the iphone 10 s and our unlimited plan with your choice of the best in tv, movies, or music. more for your thing. that's our thing. >>> welcome back big tech, social media continue to be in the cross hairs this time, president trump sounding off on social media companies in a tweet calling out facebook, twitter, google, accusing them of being biased to democrats and blocking conservative accounts. it follows a report by the senate intelligence community saying

paypal became the inflection point in my career.f you had asked me if this would become the inflection point, i would have said, absolutely not. the idea will not work. that serendipity of the depth of connections of the people you work with, live with, in your life is the kind of thing that leads to amazing opportunities you just didn't see. david: thank you so much. reid: pleasure. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. ♪ scarlet: i am scarlet fu and this is "bloomberg etf i.q.," where we focus on the assets, r

. >> well, remember, it's not a -- look, our favorites are paypal and mastercard paypal is owned by the mastercard is in the bullpen let's go to donnie in illinois >> caller: hey, jim. wow, what a blessing to be talking to jim cramer. i have learned a lot from you in six plus years i have been watching you. >> thank you >> caller: my question is on the stock cy i have two positions and currently down 15 and 20%. >> well, remember it's a semiconductor company. in a market that is down dramatically look, banks, tech, business with china. these are all in a bear market cyprus yields 3.3. when it yields 4% i would buy. let's go to brett in florida brett. >> caller: dr. cramer, how are you doing? >> good. how about you? >> caller: a ea -- >> i'm not going to recommend ea and that, ladies and gentlemen is the conclusion of the lightning round! [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes,

in the last few years because paypal is doing things by mobile devices, so it makes sense if peoplegifts to themselves. >> it doesn't mean you have ill intentions. >> most people are actually buying things like clothing, toys and gift cards, because obviously gift cards are easy to kind of come by. according to prospect retail watchers, they were saying that 53% of people were buying close last-minute and gift cards come in at 38%. at 37% of people are buying toys last-minute. >> connell: up at the point is, people are buying. we do stories all the time about the economy and some are forward-looking and say we could be in trouble next year, who knows. but in the current situation, things are good. has not shown up in numbers across the board? >> retail sales have been up and the national retail federation says we are on track to see a 4.8% increase by retail sales as we go into the holiday, as we wrap up and get into january. however when we get to earnings of the goods retailers, they haven't been that great. this quarter has been with the worst performing quarters since 2008. >> s

now they are an ebay and they consume all over asia, ups and fedex get there, and thanks to paypal andebay there's a whole system. you've got to be part of that. if we negotiate agreements that pulls out of that we're toast long-term trend with what was promised in 1993 1993 and what promises were kept and what ones were broken? >> guest: the interesting thing was a thanks for playingng that clip, that ratification vote in the senate was the first book i ever remember watching on cnn actually when i was in high school. i was in high school i think and wow, this is an important vote and now i get to cover probably if there is a vote of the women usmca. clinton added in something that the late president h. w. bush didn't have which was labor and environmental revisions added onto nafta at the end to get that through. there's a lot of concern about what ross perot called the great sucking sound of american jobs going south of the border. we saw some of that. with globalization we saw jobs multipoint overseas everywhere in manufacturing anymore complicated supply chain rising. you have peo

the next thing that happens is that amazon, paypal, square came in the market. now you have big technology companies and entrepreneurs and the banks broke up. wells fargo and jp morgan and bank of america said wait, we are not going to see this market to the new guys. so they started paying attention to small business owners. so all of this is good news for owners.siness as long as they know what they're getting into. host: maryland, go ahead. caller: good morning, how are you doing? i'm a small business owner. i started my small business two years ago and it was so hard to get a loan for a small business. so i had the banks and small they seeanies and when that you're starting out as a small business, you still have to get a loan from them. basically what i did was i use to start myney small business and up to now, i still haven't gotten any loans, to get a response back. and they do come back, it's either no or high interest rates. thank you very much. host: before you go, what kind of business is it, what do you do? caller: electronic repair and phone repair.

reid hoffman created his own underground major at stanford to elping found paypal with peter teal and. he then created the professional networking site linkedin where he made big bets on facebook. now, he is finding the best balance between social media and human

from creating his own undergraduate major at stanford to founding paypal, hoffman created linkedin and on facebook and airbnb. now some of the same questions that have driven him through his life are front and center, finding the best balance between

accenture, tripadvisor, linkedin in, paypal, ebay have european headquarters in ireland? >> yeah, i don't think this is good for anyone, my own personal opinion. ireland did not want brexit. we would have campaigned for the u.k. to stay in. politics aside, there is a general acceptance that there is going to be instability. instability is bad for business and especially difficult for companies who are looking to navigate international waters. >> you are trying to stay out of politics. you are not chasing companies saying, hey, if you leave london, then dub llin the obvio, or are you? >> well, we are. we are in the business of supporting the companies thar looking to internationalize. and ireland has a lot of similarities to the nuon chea terms of market. i don't think this is a u.k. or e.u. situation. going forward the companies who want to go d global and be successful they are going to have to crack international markets and that's having a strategy for the u.k. and the e.u. so we are seeing companies look at scenario planning, look tat backup plans which involve the u.

on google plus they have websites, they had paypal accounts, tumblr pages, reddit accounts, you namealso used american technology providers to host their e—mails. they used yahoo, they used microsoft, they used gmail, it is a very large operation in scale. camille, this is a huge bulk of research, how sure are you of these findings because you know there will be millions and millions of americans saying this is just sour grapes? we were very careful to describe exactly what we were able to observe in the data. now, we are only dependent on the data that was provided to the committee by american social media platforms. so facebook, twitter and google gave data to the us select senate intelligence committee. they may be missing data in there, it might be the case that the operation is even bigger in scope, but i am confident that we are at least describing the operation that was conducted by the russians, yes. is your point that this is all untrue, all lies, exaggerations, or is it true information, statistics just cleverly targeted. there is nothing wrong with that, is there? well, it

guests have quick fixes to improve we have the general manager and head of north american business paypal anybody can get people to shop, it's you. >> we definitely have tips. >>let start. i used to work fon an e-commerce site. we get people to come to the site and abandoned cars and see them come to the site and leave. there are little things that you can do that get people to actually purchase. so let's start with that. number one. >> i think it starts with finding customers. the number one thing is as we talk to millions and millions of merchants, the biggest thing they struggle with, hey the world is evolving. everyone is used to paying for google key words. to give you a stat, consumers like 30% of the time is spent on social. the facebook, the pinterest. the idea there is start getting into those channels. advertising in those channels. bringing customers to your site or your store. number one. >> right. >> one is obviously make sure that your site is mobile-ready. 40% interactive. mobile grew faster than the desktop side. it continues. if you have got a site that's not only mobile

what came out of jeremy called when decide for yourself did you say woman here or did he show you paypal anyway this is the labor leader and what he muttered let you decide. which kind of mr journalistic language must not be tolerated. he did not call it a stupid woman and so i do think there is any basis for an apology. i understand it he said stupid people. it doesn't look like stupid woman to me i can see stupid but not the woman. with weeks of protests all simmering in france to police officers they have now started their own protest against unpaid overtime and what they say is dangerous working conditions in at least one terminal in the french capital's main airport now officers have been causing long lines at passport control by staging a slow down protest reporting from paris charlotte dube and ski. well it seems is out with the yellow vests and the blue vests police are now trying to squeeze concessions out of the government they're unhappy you hear what they see is deteriorating conditions the amount of overtime they've done some twenty three million hours and that includes beca

-- this iso give you square, not so much paypal per se, but venmo. they are competing with venmo.n between the two is, they are offering the same thing. one of the differences is the target. people who are downloading -- there is more downloads today for square cash, versus venlo. -- venmo. the service is still the same. but the people downloading square cash, they are a unique part of the population. a lot of them are underbanked. venmo still is sort of the b banking, forto millennials and people in big cities. the services are the same. i would have to say that the service square offers is more comprehensive. it is not just having p to p, but you can go to whole foods, do different things. you cannot do it with venlo -- venmo. it is not just p to p payments. the population that are downloading and using the app, that is what we see in our research. alix: thank you for joining us from tel aviv. coming up, it is the commodities conundrum. commodities having the worst month since 2015. more on what i am watching, next. this is bloomberg. ♪ alix: what i am watching -- shocker -- com

they are experiencing people going into the stores and especially shopping online paypal came out withdy that said 47 percent of americans are shopping by their mobile devices having that ability to shop anywhere is having an impact on these retailers however when we look at the earnings and we look at the stock prices of a lot of these retailers macy, targets for example. they have really taken a hit. i think the reason why is we are looking at these macro effects on the stocks. >> let's look at some of those year-to-date stocks. there is target right there on your screen. a lot of pressure for target. target is down more than 27% just in the first quarter. macy's has have a lot of pressure. tiffany that luxury market in china seems to be drying up for them. and of course we have jcpenney. >> when you look at a retailers such as target for example. when you analyze their earnings and how they performed last quarter. >> a lot of the effect that they have and the reason why we sought such a dive in those numbers is because they were spending a lot of money on infrastructure. in order to

to actually ensure that that migration you say that it's regular show and there are past bias for paypal which don't involve them being sent back to david until i can help them develop the product. but until i can happen david at the end of the day politicians let's come closer to where you are in australia are quite adamant in some areas that there's only so much a country a nation states can drew australia heads to the polls in twenty nineteen from where you are at the moment and for our international audience to get a sense of what's going on in your country what is the sense of feeling about immigration and migration and how high on the agenda is it as a political theme as australia heads towards the polls because politicians are making hay on this issue. yes well the whole issue of migration and asylum have being central political issues for at least two decades have been a major point of political contest and effectively what we have same between the two major parties who by form governments in the last two decades it's really interminable political casting who can have the harsher

acquisitions in the material sector and companies with structural tailwinds like e-commerce companies like paypalvonnie: that's pretty specific, would you put money? >> the other interesting story for next your could be the stabilization of the u.s. dollar. as u.s. growth slows, it will become more at parity with the rest of the world. this will be a positive story for non-us markets. we particularly like latin america and brazil. they can continue in that reform that they have put in place. see thehow much do you trade relations putting us all in peril? what if we see extra terror of's out of china? what does that do to your outlook? >> trade is a big risk with tariffs coming into play in continuing to increase, that will be a headwind globally. trade afterul that 90 days, we start to make progress. it's a big risk for china which would be the wildcard but that's why we are looking at select emerging markets like brazil which may be less impacted. vonnie: what is your view on communities and how they will affect the equity trade. oil is right back where it was before the opec agreement. it's a p

and with the founders of paypal. and then to realize competition was for losers the monopoly is that for but to achieve that mightiness so that greatness and then to be so hostile to christianity and that before god and that we have mastered that a belief that they could rule that you know what i mean of the more dangerous ideas of the thirties and the ideas but there was a sense of concentrated power of great man in charge which is an entirely new destiny. to give the most flattering description and with economic growth these were magnificent kit - - magnificent in their way. and with the more humanitarian but one of them you version of concentrated power was part of the founding ideal the constitution was premised on the idea that any form of power was danger and the economy ruled by just a few men. in those instances you don't have any accountability but it seems almost impossible to imagine right now this idea america understood as the egalitarian place to have achieved a great deal of equality with its citizens

well, companies aren't down 9% in a day there's something going on in the trading but paypal has seen venmo operation increase on an annualized basis. that's extraordinary growth. they added 9 million new subscribers last quarter it generated about $3.5 billion in cash flow that's buying into the future. >> that's one. >> we got to get through the next two real fast ibm. >> okay. quick phrase >> okay. so ibm, they bought red hat. think it's a catalyst, 5.2% dividend yield probe a good time to get your feet wet and get paid for it >> third one is black stone. put me alongside the smartest guys ton street. they have 95 billion in free crash. they will find ways of making the client money i want to bet with them. >> thank you >> my plearesu >> okay. >>> and more on today's selloff is straight ahead. (toni vo) 'twas the night before christma, and all thro' the house. not a creature was stirring, but everywhere else... there are performers, dancers, designers the dads and the drivers. there are doers of good and bringers of glee. this time of the year is so much more than a bow and a tree.

confined shopping to those sites that take safe payment methods such as credit cards and paypal.hey will give you extra fire protection just in case there is a dispute. with a mobile device use direct web access through a 4g connection. it is safer than an unsecured wireless network. when registering with the website don't forget to set a strong password, one that is at least 10 characters long, has a combination of letters, numbers, symbols and uppercase characters. you can also use one of the many password management apps but don't use the same password however strong on multiple accounts. a data breach at one company could give criminals access to your other shared password accounts. when shopping in a physical store credit cards of the best option because they provide protection against stolen damaged or lost items and your liability is minimized in the case of theft. a pair that with the debit card were a thief could drain your debit card before you notice. if you think that your information has been compromised or that you have been a victim of identity theft, go to ftc com

our co-founder, his previous company, zoom, was international remittance and they're a part of paypal now our payment roots run deep >> julia, thank you very much for sitting with us today. great to have you on set here in europe >> thank you >> with that, back to you guys in the studio. >> thank you very much, elizabeth. for more on european tech's record year, head to cnbc.com for elizabeth's latest article on the subject >>> coming up, as u.s. trade representative robert lighthizer prepares to lead difficult trade conversations with china, we'll talk to one of his predecessors in that role >>>welcome back to "street signs. i'm willem marx. >> i'm julianna tatelbaum, these are your headlines >>> european stocks mostly follow asia into the red as questions remain about the u.s./china trade cease-fire and as yields spreads tighten. >>> the turn in sentiment hits auto stocks the hardest as european car executives prepare to discuss tariffs with white house officials. >>> sterling spikes after the european court of justices advocate general says the british government could cancel brexi

thanks to paypal there is a whole system. of that.to be a part if we negotiate agreements to pull us out of that, we are toast long-term. host: what promises were kept and what promises were broken? guest: thank you for playing that clip. the ratification in the senate was the first vote i remember watching on cnn when i was in high school. importantis a really vote. one onet to cover the usmca. clinton added something that the late president h w bush did not have, labor and environmental provisions. there is a lot of concern about what ross perot called the great sucking sound of american jobs going south of the border. with globalization we saw jobs multiplying overseas in manufacturing and a more complicated supply chain arising. you have people, especially in the industrial midwest, very upset about that. that concern and blaming it on nafta, as well as some of the agreements with china, has only increased. that is why we saw bernie sanders and donald being so popular in 2016.this agreement is an effort to do better by th

. >> can you be specific on those examples what names >> paypal, visa, master card, these are technologyompanies with a lot of tail winds not trading at expensive valuations. some faang stocks you need to be careful how much you pay, whether growth is sustainable over a number of years and at what level >> sarah, going further into that, we talk of faang stocks as growth overall, but apple has a very different profile valuation wise than amazon are you thinking that this is moving away from revenue and growth multiples to focus more on profit and how that's being delivered or cash flow how should we parse that when you start to set up differences between hot growth stocks and fundamentals of some others? >> i mean, something like apple, we look at apple and think it will have a hard time proving it is the strong growth company it was of the past. product cycles aren't as clear our view is investors are willing to pay for a strong product cycle from apple, and that's what's going to be important. we think apple may struggle. when it comes to technology companies, how strong are industry g

just the way paypal grew because they do all the transactions for uber and are the backbone for amazon it's the same thing with twilio. charles: i love that, too. i will admit, i have gotten singed in it. it's a wild stock. when they miss or there's a hiccup, wall street takes it to the wood shed pretty big. >> it's a volatile stock. it only has room to grow. it's still in its infancy. it's the backbone of communications for the mobile world. charles: lululemon? >> they are starting a subscription service for die-hard followers and it's doing extremely well in a trial run in canada. people are describing, people who joined this service will spend more in the stores and that's been proven in their trial run in canada. it's pulled back over 26%. it's a great time to get in. i couldn't even step room in the store over the holidays. there was no room. charles: it is an amazing shopping experience. 15 seconds left. on the bank stuff, is there anything that would make you more concerned about them right now? >> let's focus on the texas bank issue. charles: 15 seconds. >> go back to 2014. you

boeing, disney, nvidia, and paypal. go to my site, w street.com.ue proposition, reason why i like these. get my daily market commentary anyway. long-term investing while the market is under pressure. >>> for the picks two of my favorites, david dietze and kaltbaum capital management president gary kaltbaum. gary, want to start with you. viewers know you watching the market second by second doing more trading but even you have core positions you buy and hold for a long term. >> let me change that up. i'm not a second by second guy but i am a market watcher. i'm a big believer of staying out of markets when they're bearish and being in markets when they're in major uptrends. for the last couple months i've been telling you i've been out of the way. you're talking about what you like and things like that, i'm always looking forward on what stocks are holding up best in the worst of markets. charles: gary, do me a favor. let me pause you for one second. take a quick listen to president trump. he is signing a major bill in the opportunity zones. >> roge

payments is another very solid company, as is mastercard, pick one and go from there >> can you throw paypal in that equation and put square in there as well. i think you're going to see a lot of those notes as the calendar flips to 2019 analysts are going to look at names like that that performed positively but suffered in the wake of the heavy selling we're seeing >> the analyst talks about a $7.5 billion buyback just because you announce something doesn't mean you need to do this that's a big buyback program. >> masterkard visa, they both over the last couple of years have been aggressive and consist innocent their buyback program i don't think it stands out as unique in this time. >> with american kpe not making those same missteps they made a couple of years back, brian when they lost costco for instance and had some other blow-ups. the stock has performed admirably and there's another one to put on your shopping list >> i think you marry into that the exposure to the consumer and the strong secular growth story from plastic digital mobile payments and what near doing there as your secu

the russian agency posted more than a thousand pro-trump videos to youtube and looking into paypal and instagram. the reports alsohow the efforts didn't stop with the election. once robert mueller became a s, trying to he president. it also says silicon valley mp draed their feet when it came to helping the investigation. google's youtube in particular, one of the senate committee's reports says google's data contribution was by far the most limited in context and least comprehensive. we'll talk more about that when we talk about tech, coming up in a half an hour. >>> in the meantime, if you miss me in the interim, you can check me hout out twitter, i' i'm @scottmcgrew. >>> 5:48 right now. new video to show you, a huge elephant seal estimated to weigh just under a ton, basks there at a new zealand beach. they're a rare sight. rangers believe the seal is a female and think she's just resting, lounging. rangers are warning people to keep a safe distance from her, even though she looks friendly. a strong one. >> don't we have elephant seals at nuevo park? something similar? >> something s

the russian agency posted more than a thousand pro-trump videos to youtube and looking into paypal andreports also show the efforts didn't stop with the election. once robert mueller became a threat, the russian efforts turned to anti-mueller efforts, trying to discredit the man investigating the president. it also says silicon valley companies dragged their feet when it came to helping the investigation. google's youtube in particular, one of the senate committee's reports says google's data contribution was by far the most limited in context and least comprehensive. we'll be watching the flynn around you, scott. >>> new estimated to weigh just under a ton at a new zealand beach. she's not going anywhere. this one is a biggie. rangers believe the seal is a female and think she's just resting on the beach, she's lounging. rangers are warning people to keep a safe distance from her, friendly. >> hmm. big and beautiful. >> that's a nice way to put it. >>> let's look at the forecast right now. >> yes, let's move on. we're going to start out with some patches of fog around the bay area. as

always use a credit card, or many legitimate companies will let you use paypal, which is very safe. >st piece of advice, use an established realtor or, at the very least, a company that you can independently verify. never communicate only by e-mail. request a phone number to someone directly and ask a lot of questions. and up next, we've introduced you to some people battling with their homeowners association. now, the other side. one hoa struggled to deal with a problem property in their community. [ woman vocalizing ] once i started looking for it was a no-brainer. i switched to geico and saved hundreds. that's a win. but it's not the only reason i switched. the geico app makes it easy to manage my policy. i can pay my bill, add a new driver, or even file a claim. woo, hey now! that's a win-win. thank you! switch to geico®. it's a win-win. as one of the nation's largest investors in infrastructure, we don't just help power the american dream, we're part of it. this is our era. this is america's energy era. nextera energy. ♪ the greatest wish of all... is one that brings us together.

so paypal came out with a study. people, americans have been spending 47% of us have been spending online via mobile devices or computers, buying our presents that way. that certainly increased the top line growth for a lot of retailers. but what we have seen again, target, i kind of call out because they have had dismal earnings. however, they used a lot of their sg & a to beef up that online presence so people will come on and spend. we are seeing a lot of retailers do that. lauren: if you have a brick and mortar presence because everyone is battling amazon, who put out record numbers for amazon, but if you have a brick and mortar, you got to justify it and give a shopper a reason to go into your store. >> exactly. you are seeing a lot of retailers put on some fancy bells and whistles into their stores. for example, if you go over to nordstrom, they really kind of hit the omnichannel retailing, and basically what that means is people come in and you are able to shop via online, via in the stores, via other means, y

americans are spending via their mobile devices or shopping via their mobile devices according to a paypalertainly out there spending. it's just what is going to happen to these companies as we go into the next quarter. connell: what about the split we talk about between online and brick and mortar which is kind of a false story to some extent because everybody works the two together. however, i will say i was surprised, neil had me for his fox news channel show, i still have to get him for this, had me go out to the mall once. that's how i go, by the way. otherwise i'm on amazon unless i'm forced. i was shocked at how packed it was. the idea that it's dead seems a little overdone to me. >> i think what is happening is that everyone is using multiple channels in order to shop. so you're not just shopping online, not just going into the stores. people certainly want to go into the stores, especially the baby boomer generation. that's what they're used to. connell: the old people, right? great to see you. merry christmas, happy new year. hope your shopping is done. >> not really. connell: cl

paypal, square, apple pay do not.he banking industry for so long played a huge role in protecting us in ways i'm not sure we appreciate after 9/11, part of the patriot act, banks file suspicious activity reports for transactions involving more than $5,000 that the fim institution has reason to suspect are part of a plan to violate or evade any federal law. so there's a question out there on whether the system should be changed and whether companies should be doing it voluntarily and i've gotten some e-mails overnight, or lawmakers should think about what can be done if you're a believer in the second amendment this is not an effort to take that away it's really an effort more than anything else to try to at least identify some of these patterns. and they are patterns. you see it clearly if you get a chance to read the article these people are spending 10,000, 20,000, $30,000 within several weeks prior. it's evident that the second these things happen, the first thing that investigators do is go get the credit card bil

can get that monday price >> jim, looking at some of the individuals, looking on a week to basis, paypalnd adobe and mastercard, facebook and aluminous. you had people reaching for these. is that is something where you feel it is a great company at a better price or is that the character of this market going into next year of growth again >> great question. what i think happen is those were the ones that did add up. they are oriented ecommerce channel. it was an omni channel those are rich i have been saying pick one. too many people picked etfs. i am hoping 2019 will be bigger. we literally even on air, okay, these are portraiters. people think brokers are using as diversification >> jim, you were using the word bear market to describe the action way ahead of gundlach four or five s, six weeks ago. where are you right now on the prospect of recession and earnings recession and goldman calls it liquidity >> i like goldman just because everybody is keeping up with it. >> look, i think there is no recession, i think it is where 2011 was over sold where you are dealing with the october and

you hear some people, six months aigt, if you had a financial fund you were like long paypal and shorts you didn't really -- everyone was in the same trade in terms of big cap, secular growth against everything else, yeah exactly. >> this year's volatile market is going to put pressure on the economy, warning signs will start with the wealthy robert frank joins to you explain. >> well the fear here and the question is could the wall street worries low back become a self-fulfilling prophecy and affect the economy that hinges on the wealth effect that's the economic theory that when you are getting wealthier for you are likely to spend. for every dollar you gain you spend additional two to three cents but the wealth effect is stronger on the way down every dallas you lose results in at 5 cent decline in spending. as of the third quarter u.s. household had a net weather of 109 trillion the previous two peaks in welt as a share of gchd right before the recessions of 199 and 2007 li 2007. the stock market lost 2.5 trillion in market cap this month. that could reduce consumer pending by $125

. >> 34 million people will be shopping today, most of them doing this online, paypal came out with startedt that 40% of americans are shopping the a their mobile devices. this is not having an effect on the american consumer. what is having an effect on are the retail stocks. 95% of retail stocks in the s&p 500 have been underperforming, the worst-performing since 2008. when you talk about macroeconomic factors, the china economic slowdown, the trade deal people are worried about. this is scaring the retailers was the consumer has pent-up demand. for the past 10 years we have worried what is going to happen with the economy. we had several gains for the last several quarters. in terms of feeling better about where the jobs are and where the economy is going, when you see consumer spending it is almost a delayed reaction. in the next quarter or the quarter after -- heather: i was wondering if the fed does slow down a little bit, the president expressed frustration with the federal reserve talking to people can i fire this guy? kenny, if he were, and tried to do that, would that create more

we had paypal prove to be that it's a winner in capturing the e-commerce mobile wallet movement. acceleration it had here in the fourth quarter. they're participating in that and winning in that. if you look at other mega trends, what's next, a lot of people, you know, debating about zillow. i know cramer's been negative on it recently. we downgraded last april. there's a new real disruption coming in real estate. they are getting on the sellers side of home sellers rather than just on the buyers side. we think that that could be a billion in new revenues by 2022 and think there's some great opportunities for them for one play and there's others in the banking space. there's a real deposit war, checking account war that's going to break in '19. apple is in to it and so is uber. you'll see major players breaking into this in 2019 as well and the arms dealer for that race we think is green dot is going to be the one that will be the winner as they've already landed a lot of the big contracts but there will be a lot more in 2019 as these banks start to face real new competitive thre

schulman, paypal chief executive, an interesting conversation, a lot of it will revolve around cybersecuritythis is "bloomberg surveillance." team coverage in westminster. u.k. labour party is deciding whether to push for a general election by triggering a formal vote of no-confidence in the government. joining us now is john mills, julian emmanuelle is still with us. thank you for joining us. your labour party, you were for brexit? where are we now? does theresa may come out stronger? do we have a second referendum or crash out? >> i don't think theresa may is stronger. she is still there. she won't be challenge for another year. francine: that is something. >> she has some measure of authority left. she will try to get some concessions from brussels. i am not sure she will be successful. it will come back to the house of commons and get voted down again, and then we are into all these various options. francine: you think there is a 50% chance the u.k. crashes out. >> there is a 50% chance we will finish with no formal deal, but that doesn't mean there won't be individual deals in other are

>> i don't know - we think company like square, paypal to some extent and venmo, they're going to start these brick and mortar banks it is anywhere from 500 to 1500 per customer, for square, it is $20. their customer acquisition cause are so much lower and they have so much data on their clients and so quickly and realtime and they know when they need working capital or a loan to extend their business and so forth. >> what's the bull buying in this market now? >> oh, the bull buying the corner stone stocks, innovati innovation platform includes tesla, electric vehicles, collaborative robots we think robots are going to permeate every sector and nvidia it is a short term inventory adjustment when it comes to artificial s m intelligence and autonomous vehicle is a prime mover we are nibbling at gtbc. >> yeah, you are really describing a deflationary environment. >> how can it be so positiv positivpositive positive -- you see asset prices moderate and you are describing an environment that's so deflationar deflationary, how can that be positive >> if you look at dna sequencing in the healt