and he pinterest cofounders are -- and pinterest cofounders are hit with a shocking lawsuit. the plaintiff is a woman who claims she contributed a critical idea that became the foundation of the product but never got paid. christine martinez joins us in an exclusive interview to talk about her case against pinterest. but first, we have to start with monday's market selloff. u.s. stocks falling the most in almost a year. let's get all the details with bloomberg's kriti gupta. kriti: you have had record after record with on the handful of names pushing the broader index to those records. it creates a coiled spring kind of effect. then you get a day like today where you see broad selling across the board. at one point the s&p 500 was down almost 3%. what led the charge? big tech. the money went right into treasuries. you see yield going down as much as five basis points. a lot of this has to do with simply the risks piling on. a lot of this also had to do with technicals. it is a shallower and shallower pullback so we were not getting the reset we needed. this is a chart i like

pinterest was really just an idea.awing on a piece of paper that occurred at my apartment one evening. and there was no website. it was really something that needed to be figured out. both from its utility and its community. emily: you are suing for breach of implied contract, idea theft. pinterest says the allegations are completely without merit. how do you respond to that? christine: i respond i saying i know exactly what i have done at pinterest and for pinterest for the time in which i did it. and i know that ben silverman and paul, they remember exactly who i am and they know exactly what i contributed. so i am confident in my case and looking forward to continuing to work through this with them. emily: you say that they verbally agreed to compensate you many times. can you tell us about those conversations and what was said? christine: we had countless numbers of conversations over four years. this was a 24/7 venture. this was something that was being worked on constantly. and those were things that are often co

i apologize to pinterest and all the men that are on pinterest.e he gets great tips for woodworking. i had no idea. apologies. >> geraldo: that's not a porn site. >> dana: the next apology is from geraldo. in the a block, geraldo misunderstood something that greg said. greg said, what does that remind you of? reminds you of the media and the democrats ignoring the rampant violent crime that started last summer to the present time. all of our cities are degraded. stopped and let me finish, geraldo. so instead, they just totally ignore the fact that we have rampant crime. homicides are going up. if there's one singular image, a police issue that they can use because in that way they can again blame law enforcement and pretend that they care about something. that's what greg said. he didn't say haitians are causing crime to go up. >> geraldo: i apologize, greg. >> greg: i accept your apology. >> geraldo: i didn't finish. i apologize because i believe you're a very clever writer. very talented. it's a pleasure being on the program with you. my problem

pinterest 40%. twitter is up 55%. snap, those shares have roughly tripled. >>> meanwhile, the traditional media and communications names did hold up better in the broader market pulled back yesterday, verizon ended yesterday flat while comcast and at&t both were just marginally lower. comcast hovering around the flat line this morning. loop capital markets did initiative coverage of comcast this morning with a buy and $71 price target on that stock loop predicting robust broadband growth will continue for come cast driven by expanding footprint of available homes, increased penetration and higher revenue per user >>> meanwhile, netflix has pretty much flat after losing 2% yesterday. new report from consumer research company attest says that while netflix does still dominate streaming time, the percentage of people who are streaming five hours or more at a time is down to 12% this year from 26% last year jon, that still sounds like an awful lot to me. >> that is indeed, julia and along the same lines, netflix is bringi

real thing is the companies that you missed, so, like, missing twitter, missing snapchat, missing pinterestose are much worse outcomes than you put in, you know, 100 thousand dollars or $1 million or $10 million in another company that went to zero. david: final question. if somebody said i want to be the next reid hoffman, starting companies, investing in companies, doing good things for public policy, what would you say is the best training ground for that and how to be the next reid hoffman? reid: i'm still young enough that i'm still hoping to be the next reid hoffman myself, but that being said, there's a number of people like this in silicon valley who bring it entrepreneur's mindset, an entrepreneurial mindset and in investing mindset. many of the people are people that i work with. i could spend another hour listing names. you know, one individual at ne-yo, other areas by which we collaborate with these people, so i think there are a lot of people out there who will be the next themselves with this amazing kind of track record -- and luck. ♪ >> the following is a paid program. the o

missing pinterest. those are much worse outcomes.u put in $10 million in this other company that went to zero. david: somebody said, i want to be the next reid hoffman, a person who is starting companies. what is the best training ground to do that, and how should somebody prepare to be the next reid hoffman? reid: i am still young enough and still hoping to be the next reid hoffman myself. [laughs] that being said, there is another of people like this in silicon valley, will bring an entrepreneurial mindset together with an investing mindset. many of these folks are folks that i work with. i could literally spend another hour listing names. ali portovi,, other areas by which we collaborate with these folks. there is a lot of other people out there who are going to be the next themselves with this amazing track record. and luck. ♪ (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain.

think about your facebook, instagram of pinterest phase. we all swipe down, pause, and then wait to see what will appear. went back to the randomly scheduled rewards again. you'll see what could result in and your comment on a photo when you like, or piece of spam or software update. we don't really know, and it's that unpredictability that makes it so natasha daschle is a cultural anthropologist who spent more than 15 years studying the algorithms behind persuasive design. just like on a slot machine, when you're texting or when you are looking through the news feed, you really never know what's coming down the pipe. you never know when you're going to sort of hit that jack pop, so to speak, when it's coming and how much it'll be. so the randomness is very important to keep you hooked in. i think the fact that we're gambling money in a casino isn't really that different than what we're doing. because in both cases, what we're really gambling is our attention and our time right across the board. we're sitting there sort of hoping for some,

south africa, most likely like what's happened with the c 12 that is coming out the new body and pinterest, most likely we have new i, it's coming from africa and we'll come back to square 0 and for stop on again. speaking of starting all again or coming back to the stop, i want to talk about israel. patrick 10. most israelis were vaccination by march, but then by the end of june, they had the mask mandate reintroduced. people needed to put them off back on. what does that tell us about what is going to happen for everyone in the future? you know, will vaccination be enough? or will we be wearing masks from here until, who knows when, but i think it's really a little bit of a unique situation be. they were lucky enough to get back in very early and, and back to me. i never can't proportion of their population very early. so and then with bad bay would they didn't get enough to achieve heard of unity, but they got significant proportion about 60 percent of people vaccinated. but, but with that, they started declared that it was the path and they dropped a lot of their public health measures

snap, twitter, pinterest, tiktok, instagram. and sometimes youtube. instagram seems to be -- the customer base seems to be most satisfied. i want to point out one thing. we tried to see who was at risk. we have not seen it in the user growth and engagement growth. one thing i would warn about is instagram. how people, why people, the way they interact with tiktok is probably most similar to how people instagram. we have not seen the risk yet. that kind of forced them to roll out instagram reels, which is showing good traction. i think they have the biggest bullseye in the back because of tiktok. emily: you referred to the negative publicity facebook is getting. they haven't gotten a lot of fond media attention for years. it has really reached a climax with the wall street journal series of investigations, some of the headlines facebook and knew that instagram was toxic to teenagers and it did not do anything about it. do you think this kind of media coverage, this negative coverage, will finally impact the stock price? >> i thought you were going to g

. >> it's -- they threw pinterest in there as well i'm not certain why, but i'm with bonawyn on thisou flee from google at year own parity. in temples of a business model, it's hard to argue against it. amazon i understand. facebook brings with it its own set of problems, a lot of it facebook-induced for the seemingly hundredth time, if esg investing sort of captures facebook sustains or investors' attention against facebook, that's it. the party is over. it hasn't happened yet, but the stock is definitely trading that way. >> pete, are you with you citi on this? >> i don't agree i think we have seen time and time and time again how it's been so teflon it's a favorite name i continue to hold it. i'm not shaken out i still love the fundamental story. we talk about eyeballs aural time look at the different verticals that facebook has. they're consequence taply -- somebody is always after them, mel, usually it's their own fault, and yet the stock continues to the up side i'm probably eyeing an opportunity to maybe re-add to the position. >> karen wag doing that, too there were instagram

what he described as episodes, hear voices and be erratic and cause gabby to flee her home app this pinterest account has very cryptic messages on it as, don't try to find me, my baby enscribed on a tombstone. >> we don't know where he is. they are spending a tremendous amount of resources to find brian laundrie at this point. >> they are. where is he? it is interesting. i don't know if you saw the other story around this. it kind of got buried. there was a couple camping and they were both shot to death. there are a lot of odd things going on in that part of the country. back to the point about the parents, who goes and mows their grass and takes a bicycle ride when your son is missing and his girlfriend is found dead. they ruled that other case about 200 miles away out. >> a double homicide. as we increasingly learn about brian laundrie and his parents, it makes it seem more and more like the double murder had nothing to do with gabby's death. >>> new bombshell reporting on what the biden administration is really doing with the thousands of migrants packed under a texas bridge next. bogeys

mixed with snap getting a buy rating, though that stock is tracking for its worst day since july pinterest gets a neutral rating and twitter a sell for more of that goldman call head over to the cnbc pro section. tyler, kelly, you can read more on that story. >>> shares of powerschool powering higher, up more than 80%. 80% since going public at the end of july. as a traditional ipo, by the way, not a spac. powerschool reported a 41% rise in revenue 37% increase in subscriptions, has a big reach with more than 12,000 customers in more than 90 countries, used by more than 45 million students i'm going to keep reciting numbers here until we just get tired of it. hardeep gulati, welcome. good to have you with us >> thank you, tyler, for having me on the show >> revenues are up very sharply. profits, i guess it was a net loss, but it was a much more narrow loss than in the year prior. let's talk about how persistent you think this business can be everyone can understand why educational software did so well during the pandemic, but you're in this for the long haul. make the case you can keep gro

that is within twitter, linkedin, reddit, and pinterest. tiktok has 600 million active users, wechat has 1.20 5 billion, and aunt -- and ant, 1.3 billion. when they talked about this is the issue of the data, we are talking about true data behemoths. one of the stats i ride -- read recently, ant and the wechat pay feature, they have more users outside the u.s. -- so non-chinese citizen users -- then paypal has globally. -- than paypal has globally. we are not just talking about access to data, but people who said, we are going to be the world leader in understanding -- so what about this data? you can have lots of data and if you can't parse through at, then it is not really concerning or impressive other than a general liberty. the point is if you are talking about people who are saying, when it comes to 5g, we would like to lay the infrastructure for a 30% discount around the world so we don't even have to hack into your telecommunications, we are just riding alongside. then if you opt into our app, we will get your data that way. then we

. $10 billion sounds like a lot until you consider pinterest at 36 billion, triter 30 billion, snap,r after facebook and a year before twitter. so, why is it going to grow faster from here when it grew slower up until this point >> that is a very interesting point. let's get your take on it. is this the type of company you would want to own? has the retail trading boom postpandemic unleashed a whole new possibility of frontier or whatever you want to call it from reddit's future evaluation? >> that's possibly however i agree with jon that they've been around for a long time and they've managed to catch some great momentum because of this meme stock craze. but they're joining the game and catching up with their much, much, much bigger brothers and sisters at a time when congress is still thinking about section 230, the communications decency act, and it poses some real questions for that entire space. so, it's just a challenging time to be coming in to this particular play. >> you guys are clearly not going to be part of the army here once this thing lists what about you >> i have to

snap, twitter, pinterest, you like them as well? >> not all of them.skeptical of for a while, pinterest on the sidelines. i like snap, the single diminish second most innovative company i see in social media, the most innovative is tick-tock. our survey shows that is gaining the most share and that the risk i focus on as an analyst on facebook. it is less public scrutiny because that waxes and wanes over time. the bigger issue is tick-tock is more popular with the younger demographic and that will impact instagram a license to graham aggressively innovates on a product like they do with instagram reals. stuart: why do you think millennials are younger people go for tick-tock? >> people love short form video. user generated content short form video that is personalized. there is as much content moderation with tick-tock as facebook. that is a hard thing to manage both technically and legalistic lead. ethically, etc.. those are hard calls. that's the draw. it is quick, snackable, short form video. it is relatable and personalized and addictive. stuart: i

new entrants such as zoom, snapchat, specify, pinterest and many others have become successful becauseovide an innovative product not because they have accesses to da from established companies. our focus is continually improving the products into the greatest source of innovation comes from extensive research and development. we spentrc over $27.6 billion on research and development which is nearly ten times what we spent in 2009. at google we are committed to protecting through privacy, security and user control and improving in a way that ensures more consumer choice and competition. we will continue to engage with policymakers and regulators as well as other stakeholders to support the regulation that encourages and protects consumers for example we have long supported the federal privacy legislation in the united states and we are encouraging to enact such legislation. thank you for the opportunity to discuss the work and i welcome your questions. >> thank you very much.h. next up. >> chairwoman klobuchar, ranking member lee, members of the committee, good afternoon. thank you for

it's like your pinterest board and your perfect house., we have everything you could ever imagine, $65 million of real estate in four homes in the first two episodes. rachel: you don't realize this, these guys off camera talk about homes and interior designers. they are manly, but they do like to talk about their houses and their interior design, so this is great for them. [laughter] >> that's the fun part. obviously, it's real estate night on fox business. you've got casey and i together, and we're running around the country looking at all these homes. she's got the mansions, i've got the regular folks, regular americans that save and tried to build up as much wealth as they could, i've got an e.r. nurse who decided after covid, i'm moving to hawaii -- rachel: wow. did you go to hawaii? >> i'm on my way, let's put it that way. we've also got, you know, a couple that were done with los angeles, they bought an rv, went across the country, ended up in key west. it's real people trying to find that perfect home x this is the forever home. ra

wake up, you are on pinterest. training in between because i had to win some medals!g us what the role entailed. to be honest, i quite simply couldn't believe it. i was asked by a gentleman, would you be prepared to go to london and become the next queen's piper? that's when i thought, my goodness, this is the most bizarre thing in the world. my name is scott methven, i am a professional bagpiper bagpiper and i was the 15th sovereign's piper since 1843. i grew up in a small village called gargunnock, which is just at the front of stirling castle. and if anyone had said to me in 30 years time you will actually be living in buckingham palace, i don't think i would have believed you, to be perfectly honest. at nine o'clock every morning, you would play the pipes, you will do seven minutes and then you will tune your drones for a wee minute, and then another seven minutes. really escorting her majesty the queen around. and being there to support, any guests that come along, introduce them to the protocols and the dos and don'ts. i did two tours of afghanistan. i was there