to me was just how long the tobacco industry, the marlboro man, the company we know related to philip morrislong this company had been trying to innovate on the cigarette. essentially, today there are 34 million adult smokers. that is way down from the 1960's and 1970's, but for decades, this massive company had been trying to innovate on the cigarette to create a potentially safer product that would not kill its users like cigarettes do today. just how bad they were at innovating. to me it was surprising to learn just how much money, they spend billions of dollars trying to innovate on the cigarette and really could not do it. they just really were terrible at innovation, just like a lot of other large, legacy companies. if you think about the camera, kodak was not the one that innovated with digital film. you think about tesla, the innovation did not come from detroit. what i found fascinating is that it took silicon valley to innovate on richmond to innovate on this old legacy company and once silicon valley got involved, it changed the entire dynamic of the industry and it forced philip

philip morris' stock is up 18% this year. >>> a key measure of u.s.reight volume is showing the u.s. recovery is continuing to accelerate shipments hit its second-highest level in may helped by a rise in vehicle shipments and a likely increase in inventories restocking back to you. >> i'll take it. thank you. interesting. >>> a battle against big tech platforms on capitol hill. julia boorstin has a breakdown of bills behind that >> we're right now digging through the five draft antitrust bills that democrats are circulating and they take aim specifically at the tech giant's self-dealing and the power of their scale. now while the drafts could certainly change dramatically and it's unclear what kind of republican support they have, if any of these do pass, they could have long-lasting implications on apple, amazon, alphabet as well as facebook the platform anti-monopoly act would make it illegal for the giants they define as half a million monthly users and market cap make illinoit illegal over competitors. that would change the way google could handle

when i first heard this, philip morris, they're going to florida. but no.the corporate headquarters and 200 jobs because so many new yorkers left the city during the pandemic and went to the suburbs. connecticut is right around new york city. so that is where the talent could be. that is my interpretation. i think governor lamont would tell you because connecticut has a great technological workforce. and i think that philip morris would tell you they're expanding beyond smoke products to smoke-free e-cigs. they're leaving new york city. 200 jobs going with them. stuart: connecticut has a state income tax. first introduced by lowell weicker who was a republican for heaven's sake. i will move on before i choke. blackstone, full disclosure, i own a small piece of that stock. it has done well for me. blackstone at 99. anyway, that company facing a big bet on housing. they made a big purchase in line with the housing market. what do they do? lauren: a company called home partners of america. they bought them for $6 billion. this company owns 17,000 single family

>>> philip morris international announcing it will relocate its corporate headquarters to connecticutwas facilitated with the move of governor lamont and will bring 200 jobs to the state. pmi expects the new headquarters in fairfield county to be operational by summer 2022 as companies everywhere, jim, sort of re-owe value ate their corporate footprint. >> i was with an executive yesterday who was saying that we don't emphasize enough the "daily pop"lation of urban centers, that there's "daily pop"lation i know in new york there has been, but -- >> and there's two different things new york and the neighborhoods of new york, and i think -- people have not left, but you go to the main office corridors, midtown. >> that's what i'm talking about. >> downtown where we are, and there's still a lack of workers who have returned, and the question -- the larger question for business, which i think is fascinating right now, is what are the people who run these organizations going to go with as their future? is it going to be i expect you in the office five days a week, or it's got to be hybrid