peter thiel's candidates are pushing that line pretty hard, with peter thiel no longer part of meta/facebookht make it easier for him to double down on that. manus: when you see people like peter thiel as it were doubling down on his commitment to whatever this next trump move might be on a presidential, do you think you were going to see more big names move behind trump? is there a new momentum here in the trump run? bruce: well, i think there is a long way to go. first, we have to get to the midterms and see what happens. trump is certainly facing a lot of legal issues in courts in georgia and new york, elsewhere. there is the january 6 committee that will be having its public hearings probably sometime this spring in the u.s. i think it is too early to say that there is any sort of consolidation. there is a lot that could be happening between now and the midterms, let alone between now and the 2024 elections. dani: if there is anything we've learned over the past few elections, time seems to not apply. bruce, thank you so much. coming up, japan's softbank releases third-quarter results an

what do we know about why peter thiel is leaving now ? s support for president trump been controversial but mark zuckerberg has at all times supported thiel in the name of ideological diversity on facebook sport. -- board. >> th par of the reason he is stepping down as he wants to continue -- to push president trump's agenda and it would be a distraction for facebook. it is a little bit confusing only because peter thiel has been supporting president trump for years. and facebook has stuck by him during all that time. it's odd to finally leave now. if that is the real reason. regardless, he has been on the board for 17 years now. a controversial relationship between mark zuckerberg and him. whether it is to push trump's agenda or something else, it is significant that he is stepping aside. emily: david, you know better than almost anyone aside from mark zuckerberg and peter thiel himself the nature of their relationship, that history. the importance or lack thereof to the company. what do you make of this? >> it's a shocking development, a

meta shares fall, down 33% for the year early investor peter thiel leaving the board.hat that signals for meta's prospects. >>> carl, we have two broken deals today. one arm and nvidia the other is peloton's share price falling apart over the trend. though look at the turnaround today. we'll start with leadership change former spotify/netflix ceo mccarthy is replacing foley as ceo. foley will be executive chair. shares initially plunged nearly 10%. but quite the rebound. they're now up more than 20% this all comes as activist investor blackwells has been calling for foley's investor and a sale of the company. kno foley out as ceo 2,800 job cuts, 28% of the corporate workforce. the move is expected to save $800 million in annual costs, while peloton will also wind down a plant in ohio as part of the announcement, we got a look at guidance not great here full year 2022 revenue is projected at $3.7 billion to $3.8 billion, down from $4.4 billion to $4.8 billion. for q3, get ready for a bigger than expected loss, as well. i'm trying to figure out, this massive turnaround i

peter thiel had been a member, a director on the board since 2005 will continue to serve as a directorhe date of the annual meeting at which time he will step aside. let's get to julia who has more color on the story >> yes, i was saying that this is very interesting, but perhaps not a surprise among those who have watched peter thiel in terms of his political involvement. thiel, a big supporter of president trump, and as facebook became more and more in the cross hairs from both sides of the aisle, particularly around issues surrounding the 2016 election and cambridge analytica, i think there had been called for thiel to step down from the board of the company before now so i would say in many ways this is likely a long time in coming. he's been on the board of meta since april of 2005. so since the very, very early days of this company and i would say that there are a lot of people who have called for this company, which is very much controlled by mark zuckerberg in terms of the voting shares, to have a more diverse and independent board and thiel, i would say, because of his very cl

>> i would separate ken griffin from peter thiel. two candidates, blake masters and j.d. vance, people that have worked for him, they received $10 million each for their pacs for him seeding their campaigns. but to go back to what he's looking for, really, he's looking to institute a new view in world politics, whether that is the stifling of immigration to ending the fed, to promoting a kind of more nationalist antiglobalist world view. and that's mainly what he's looking for at this point. >> well, great reporting in the "new york times," we appreciate that, and thank you to you lee drutman, you both have to come back. in a midterm cycle this conversation warrants being continued. >>> the business of legal weed and barriers people of color face when trying to cash in on the exploding cannabis industry. we'll talk about that coming up next. ndustry. we'll talk about that coming up unlimited with no annual fee. how do you cashback? chase. make more of what's yours. with downy infusions, let the scent set the mood. feel the difference

. >>> friends, allow me to introduce you to peter thiel.ith him, but he has played a central role in funding a string of very familiar businesses like paypal, facebook and lyft. that's what made him famous. here's what made him infamous. how he uses giant gobs of money to fund vendettas. you probably remember his first highly publicized victim which was gawker. some of you freaked the site. i know i did. in 2007 who wrote a book about the saga, thiel was so upset, he called them the mbto. it was then and there he plotted his revenge. in 2011 he found a way. in 2012 gawker decided to post secretly reported videos of hogan having sexual intercourse with his best friend's wife. oops. hogan was livid. here's where thiel saw an opportunity. thiel notified his lawyers. in 2016 gawker was found guilty and faced a $140 million judgment. gawker, which couldn't pay that amount, was forced to fold. thiel had effectively sued gawker into oblivion. it's an odd personal mission for a libertarian who rails about the unnecessary policing of speech. he set

including peter thiel looking to exit from facebook/meta's board. ha coombs is here with more. >> reporter: brian, thiel making that announcement yesterday saying he will not stand for re-election in may the company says thiel and early facebook investor and friend of mark zuckerberg will serve on the board until the meeting. according to the report, he is focusing on his political agenda in the 2022 campaign cycle >>> guess is reporting to the calls for the co- founder to leave the board. urging that paul and marciano being ousted accusations of sexual misconduct of women against paul and claims that maucian mauciano turned a eye. >>> and tesla is cutting steering parts from the cars to deal with the chip shortage. cnbc reported that the company excluded one of two control units in the steering racks of the shanghai built models. the sources say tesla employees decided against telling customers because the part is considered a redundant back-up this comes as tesla revealed it received a subpoena over selling shares brian, the s.e.c. is seeking infor

online financial transaction company paypal and its initial investors who included elon musk and peter thiel and biographer walter starr recounts the life of salmon p chase abraham lincoln secretary of the treasury and later the sixth chief justice of the supreme court find these titles this coming week wherever books are sold and watch for many of the authors to here in the near future on book tv at least six presidents recorded conversations while in office here many of those conversations on c-span's new podcast presidential recordings season 1 focuses on the presidency of lyndon johnson. you'll hear about the 1964 civil rights act the 1964 presidential campaign the gulf of tonkin incident the march on selma and the war in vietnam, not everyone knew they were being recorded. certainly johnson secretary's new because they were tasked with transcribing many of those conversations. in fact, they were the ones who made sure that the conversations were taped as johnson would signal to them through an open door between his office and there's also hear some blunt talk. yeah. i want to reporter t

i just reviewed a very good biography of peter thiel and peter thiel designated as elite, you know, obviously like like all of us he he was from the elite he was at stanford, but so someone that might be identified as elite by, you know, any joe i mean any relative of mine it usually the person using the word elite to criticize to criticize other people. i think the working class in general calls elite the ridge and and but okay, so i'm reminded of a when i was first writing about the internet and you know, just to put all cards on the table, you know, i think it's not wokeness or even any trend. and in the media with one exception or even the rise of donald trump that have changed everything, you know, if i were gonna if i were going to point to one, i think there's like a matt groening column about an old academic old academics and what they're like and the one that he zeros in on is the one that says he who controls magnesium controls the earth. so if i if i were gonna say what is my sort of one thing i would say it's digitization that is enacted a kind of insult to brains. and and so and

parent company, meta is losing one of its longest serving and most controversial board members , peter thiel plans to step down from the company's board later this year. he has served on the board since 2000 and 51 year after the face or after facebook launched thiel co founded paypal and data analytics firm palantir technologies. bloomberg is reporting that after his departure will focus on influencing the midterm elections and backing candidates who support the agenda of former president trump. shares of facebook's parent company, meta fell another 5% today following last week's record plunge. the stock is now fallen 27% in the past week. that is a loss of more than $230 billion in market value since the company's disappointing quarterly earnings. facebook reported that its daily active users declined from the previous quarter for the first time to another tech companies were the biggest drag on wall street today will energy , financial and travel related companies made solid gains? overall stocks ended the day mostly lower, the dow was essentially flat, nasdaq dropped 82 points and the s

the online financial transaction company paypal and its initial investors including elon musk and peter thieland biographer walter starr recounts the life of abraham lincoln's secretary of the treasury and later the sixth chief justice of the supreme court. and finally, here's a look at some of the best selling books according to indy bound. topping the is university of atlas of the heart. it's about making meaningful human connections. after that is pulitzer prize-winning reporter and creator of the 1619 project nikole hannah-jones' look at american history, slaverly's legacy -- slavery's legacy in present-day america. that book has been on bestseller lists for weeks. art spiegelman's graphic novel mouse which was recently ban from the eighth grade curriculum of a tennessee school. and that's followed by crying i- [inaudible] another longtime resident of the bestseller list. it's a memoir. and wrapping up our look at indiebound's best selling books is michael shorer's thoughts on living an ethical life. his book, "how to be perfect." and that's a look at week's publishing muse and the late n

you should go do something in silicon valley with peter thiel or something. what is an elite? yes, heater teal is certainly one sort of elite but there are multiple elite in a complex society like america is a cultural elite and often times they are very angry and probably internally seething because they are more refined, they are more culture, more education and they are so less well compensated any kind of uncouth voelker elite, and often times these two types of elites self-serve and are binary political system. it's true that there's a culture capital that writers and media people participate in but it's a legend -- >> did we lose him? >> i'm sure he will be back. >> okay, i'm sure he will jump back in. so while he jumps on let me ask one final question to the two of you -- your back. >> i'm not elite enough to have a stable internet connection. [laughing] i don't know why. >> that's a structural solution. >> it does that have the sl of tech yet. >> or is it the socialist government in france that limits exactly -- [laughing] >> sorry, i had to go there. >> but i have hea

. >>> still to come on ch "techcheck," we'll talk peter thiel, as the dow is up in the session.[announcer] meat-itation, a sense of calm that comes from being transported to your umami place. on time, lowest price, or we'll make it right. grubhub. ♪ chicka-chicka today, you have to deal with a lot of moving parts. you want everything to be on autopilot. and to be prepared if anything changes. with ibm, you can do both. your business can bring data together across your clouds, from suppliers to shippers, to the factory floor. so whatever comes your way, the wheels keep moving. seamlessly modernizing your operations, that's why so many businesses work with ibm. >>> welcome back to "squawk on the street." stocks are mixed this morning, but we are seeing a little strength in the last few moments. s&p 500 near the session high right now. with regard to the upside standouts are financials within that group, we are seeing some notable gains and a mix of both regional and big banks as well we have jpmorgan chase also regions financial truist and bank of america leading the sector to the

billy near peter thiel is leaving the board of meta to pursue donald trump's agenda, backing senate candidatesk the former president's policies. a divided u.s. supreme court has dealt a blow to minority voting rights. it is reinstating an alabama congressional map that creates only one district likely to elect a black representative. a lower court said federal law required a second one. the ruling ensures alabama voters will use the original republican drawn map in the elections. the state is 27% black. pfizer forecast sales that fell short of wall street estimates. fourth quarter profit was expected to be better. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> if inflation does continue to build, and wages respond to it, the question will be due central banks play catch-up? are they willing to accept a much sharper downturn in growth, possibly even something worse than a slowdown in growth? we know a lot of tightening cycles typically and in some type of contract

peter thiel will be the keynote and other speaking on artificial intelligence and bob metcalfe of metcalfe slaw is going to be expounding on the continued significance for crypto currency and other such paths of technological advance. we're going to have an exciting time and i'm going to debate newt gingrich on china. i don't think war with china brings any benefits that i can imagine. >> i agree with you on that. what could be less productive in a war with china? good grief. if our viewers when information about the conference which should they go, george? >> cause him .txt technology so technology is the suffix. >> cosm.technology. >> is it next month did you say on november? >> november. november 102 the 12th. >> okay. in the meantime you also releasing a brand-new book, i think the publication date is officially october 15 if i'm not mistaken but here's the cover of it, "gaming ai: why ai can't think but can transform jobs." very nice and compelling coverage. yet some good artist working with you, george. i also noticed if you want to go to amazon you can order it already. partly this

billionaire peter thiel is leaving the board of meta to pursue donald trump's agenda.ocus on backing republican candidates to the senate who about the former president's policy. a divided u.s. supreme court has dealt a blow to minority voting rights, reinstating an alabama congressional map that only creates one district likely to elect a black representative. the ruling ensures that alabama will use the previous maps drawn. bp boosted share buybacks. the british energy company will repurchase another $1.5 billion in shares using surplus cash from last year. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ >> a lot of uncertainty, but what i will say is, demand is strong. you can easily see a further tightening market throughout this year, but more than anything, we should expect some volatility. at the end of the day, we don't know what the price of oil will be. jonathan: who does? the ceo of bp there. down .2% on the s&p. crude down by more than 2%. yields hi

david: quickly, peter thiel, one of the smartest people in the world in technology.ng a change, tell us about it. reporter: stepping away from meta, facebook's bored, making trade for 500,000 for 10% of meta which turned into a billion dollars. david: not bad. reporter: peter thiel can step down from the silicon valley and back more conservative gop candidate. david: i don't know if we put up facebook -- reporter: people asking me if it goes sub200 is it a buy. david: what do you think? reporter: mark zuckerberg is fierce competitor, smart, phenomenal operator, he saw the future of what's app and instagram, it was worth a billion dollars in 2012, it has turned into a 2 billion monthly, daily active user website and platform. david: the meta universe seems a little further off today than it did a couple weeks ago. reporter: yeah. david: thank you, susan. 10 year treasury yield heading towards 2%? so what does that mean for the market? constellation's ray wang join us now. it has been explained a million times, just one more time succinctly why it is tech is hurt more

peter thiel is stepping down from the board. do we know why, lauren?n: to support trump-aligned candidates in the midterm elections, that according to "the new york times" and "wall street journal." he is recently pledging $20 million to push two republican senate runs by j.d. vance in ohio and blake masters in arizona. the question or the problem with thiel out, facebook loses its most prominent conservative voice, and the question is he's been there since 2005. why does he want out? maybe he doesn't believe in the future of the company. stuart: why's he out a couple of years or at least a year after they kicked trump off facebook? why is he leaving mow? lauren: i'm going with he doesn't believe in the direction of the company. we saw the last earnings report and that it's losing with current users. stuart: meant that is at -- meta is at 232 this morning. facebook and intragram -- instagram should be shut could be in europe? lauren: we've known about this for a while. it's inside if baseball. facebook is threatening to pull their service across europe

online financial transaction company paypal and its initial investors who included elon musk and peter thiel and biographer walter starr recounts the life of salmon p chase abraham lincoln secretary of the treasury and later the sixth chief justice of the supreme court find these titles this coming week wherever books are sold. and watch for many of the authors to appear in the near future on book tv. written by alexander downs of george washington university and published by cornell university, press i have my own copyright here dog eared and highlighted as much as i could. we do have a link to the books website on the cato event page and you can get a 30% discount off the book using the code 09 flyer. that's zero. nine f l y e r all one word and all caps. my name is eric gomez. i am the director of defense policy studies here at the cato institute.

that is backing from ebay billionaire and republican donor, peter thiel, who just this week investedright stuff. a conservative dating app that launches this summer. just when you thought that dating apps couldn't get any worse, now you can join one that's backed by a guy who's ideal match appreciates long walks on his seat standing colony and international waters, somebody who agrees with him when he says romantic stuff, like i know longer believe that freedom and democracy are compatible. maybe take a pleasure tourist visits to the u.s. capitol. the news for investors and ripening social media isn't all good. trump was supposed to launch his own safe space for conservatives, truth social on february 21st. investors flocked to get in, along with one very trumpy house republican. >> -- taking donald trump's media company public are soaring in the after hours trading. roughly 6%. >> sharper -- is going to be getting a new and formerly high-profile ceo and devin nunes, a republican lawmaker, who announced he would be retiring from congress at the end of this month. that company -- was

plus, peter thiel's plans to double down on former president trump's political agenda. that to be a distraction from mark zuckerberg. why he's stepping

peter thiel will step down from the board of meta.t does not want it to be a distraction to the company. he has been a close advisor to mark zuckerberg for nearly two decades. and meta is going to keep transferring user data back to the u.s.. it is among the thousands of companies that rely on a transfer deal that was struck down by the eu court of justice in 2020 on data can -- data security concerns. have been in negotiations for months to replace the agreements. lg energy solution has posted it for your profit of nearly 640 million after a loss in the previous year. the results come after the battery maker completed the largest ever last month. they have seen their shares surge nearly 80% from their debut price, making it the second largest dock on the benchmark. china is said to be exploring a combination of building materials. blackstone is discussing a possible merger of the materials in europe alongside preparations to list the company. blackstone is seeking to value the business at almost $7 million on any deal. coming up next

how big of a deal that peter thiel was the first investors in the board of facebook has been on the boardince 2005 and the most prominent conservative voice is leaving >> it raises more eye brows in quarters like this one you have numbers coming down, more competition, but if it was an ordinary situation, business as usual, we wouldn't be talking about the transition too much. al mild cautionary flag but not one i think too many investors will skip over. >> yeah. i think it's plenty they have. justin, thank you so much, i appreciate your perspective this morning. >> thank you >>> still to come this morning, yum brand ceo david gibbs, the stock rising on the better than expected revenue and comp figure we'll get his take on pricing and inflationas the year moves on in the meantime, futures here. pretty much on all the indexes looking at about one week highs. we're hoping things will pick up by q3. yeah...uhhh... [children laughing] doug? [ding] never settle with power e*trade. it has easy-to-use tools and some of the lowest prices. get e*trade and start trading today. your shipping manager

online financial transaction company paypal and its initial investors who included elon musk and peter thiel and biographer walter starr recounts the life of salmon p chase abraham lincoln secretary of the treasury and later the sixth chief justice of the supreme court find these titles this coming week wherever books are sold. and watch for many of the authors to appear in the near future on book tv. written by alexander downs of george washington university and published by cornell university, press i have my own copyright here dog eared and highlighted as much as i could. we do have a link to the books website on the cato event page and you can get a 30% discount off the book using the code 09 flyer. that's zero. nine f l y e r all one word and all caps. my name is eric gomez. i am the director of defense policy studies here at the cato institute. the united states has been especially active in this space during the global war on terror. since 9/11 the united states successfully toppled regimes in afghanistan iraq and libya. there's also some hints in syria that the united states might be

while others such as billionaire co—founder of paypal peter thiel, and amazon'sjeff bezos have been pouring money for humanity, the technology they are developing and creating to get us into space is technology we are going to be using in the next 30, 40 years. the nasa government programme in the 505, years. the na5a government programme in the 505, things they created in the 605 and 705 are helping the internet today. the difference is that now it is coming from somebody's personal paycheque. billionaires, they make a lot of money, they push the envelope but i can't fault elon mu5k orjeff bezos for spending the can't fault elon musk orjeff bezos for spending the money to develop technology that advances humankind. what do you think? the longevity, looking to live to be 200, 300 years old, may even cheat death. these start—ups they are getting back into after the pandemic. how do you see how they spend their money? it how they spend their money? it reminds me of the film don't look up to be _ reminds me of the film don't look up to be honest. it feels completely otherworldly. they can spen