how would you explain reddit to someone who's never seen it before? so, reddit is complex.ding on how long i have for this answer, i'll start with the short version and maybe we can work our way into the longer version. sure. but reddit is thousands of communities. it's a place where people can find a community for pretty much any interest and passion that they may have. so, our communities range from the familiar — news, politics, sports, to internet culture, communities that may not have representation offline at all. and to support. so, communities for people who are parents for the first time or are struggling with drug and alcohol addiction. places where folks may not have a lot of places to turn to elsewhere online or offline. so, reddit, it's a little bit of everything. but at its core it's communities and it's people. what was the question to which reddit was the answer in 2005? what were you setting out to do that no one else was doing or no—one else was doing as well? in 2005 our vision for reddit was different than what it is today. we only had a single community

i will observe that reddit is people. and like people, reddit is overwhelmingly good.e learned from reddit, is that people in the right context are funnier and more interesting and more supportive than i think we give them credit for. so, ultimately, we're talking about a very small number of people, who we want to make sure, if they are in violation of our policies, are not on our platform. and if they are perhaps making trouble but not yet in violation of our policies, that their influence and voice is in proportion to their numbers. that is to say, fringe views should be fringe. so, the donald. the donald is a community dedicated to supporters of donald trump. it was formed i believe in 2016, maybe 2015. we did ultimately ban it in the spring of 2020. though at that point it was a dead community. it was dormant and had been that way since the fall of 2019. but we had certainly had our challenges with the donald over the years. that community among other things you mentioned, the memes, the news, that stuff by and large was within the bounds of our content policy. it

so reddit is complex. depending on _ you before? so reddit is complex. on how _ you before? so reddit is complex. depending on how long _ you before? so reddit is complex. depending on how long i _ you before? so reddit is complex. depending on how long i have - you before? so reddit is complex. depending on how long i have forl depending on how long i have for this answer, i'll start with the short version and maybe we can work our way into the longer version. sure. but is thousands of communities. it's a place where people can find a community for pretty much any interest and passion that they may have. so our range from the familiar news, politics, sports to internet culture. communities that may not have representation off—line at all. and to support. for communities for people who are parents of the first time or struggling with drug and alcohol addiction. time or struggling with drug and alcoholaddiction. places time or struggling with drug and alcohol addiction. places where folks may not have a lot of places to turn to elsewhere online or off—lin

i will observe that reddit is people. and like people, reddit is overwhelmingly good. in proportion to their numbers. that is to say, fringe views should be fringe. so, the donald. the donald is a community dedicated to supporters of donald trump. it was formed, i believe, in 2016, maybe 2015. we did ultimately ban it in the spring of 2020. though at that point it was a dead community. it was dormant and had been that way since the fall of 2019. but we had certainly had our challenges with the donald over the years. that community, among other things you mentioned, the memes, the news, that stuff by and large was within the bounds of our content policy. it was also a community of trolls, of people deliberately testing our boundaries, testing the rules, antagonizing the company or the greater reddit community. and those are often some of the most challenging communities to deal with because they're savvy enough to know with the rules are. and much like a four—year—old testing boundaries, they try to find where the line is, they walk right up to it and they stick their n

early this morning after announcing it is ready to take advantage of the reddit rally in the sky high stock price. gamestop is down under 4% even the shares have jump 900% since january. his robinhood retail investor crowd still in danger? it doesn't even matter if you trade on a different platform than robinhood work and asked the man who run one of the largest trading platforms in the world in a fox business exclusive former tv ameritrade joe on what we have and have not learned from the main stock mania, monster weekend at the box office godzilla versus kong, the biggest audience since the pandemic began but did that success trigger a new battle that sets the stage for the warhead between movie theaters and hollywood moviemakers. and the entertainment ceo adam aron is here and a fox business exclusive on cinema versus streaming. in one week later the ship that blocked the suez canal finally free but your coffee and toilet paper might still be stuck, enter blue yonder whose artificial and to intelligence could be the genius that swooped up the supply chain nightmares we begin with a

justin zhen has been tracking all of the chatter on wall street chat board on reddit. it seems the flip is switched in terms of activity on aso. >> definitely. t the company reported blow out earnings on tuesday and chatter on reddit was quiet until the weekend, it increased 944% between friday and monday. and from monday to tuesday there was 240% spike and today academy sports is actually the second-most talked about stock in wall street bets. >> is this just off a low base though, justin >> it is actually off a pretty high base. you know it's the second most popular stock behind gamestop which is pretty fascinating, considering there were a lot of other names in place. >> you may or may not be able to do that but what do you extrapolate the spike in interest given what you seen in gamestop. >> yeah if you look at the alternative data it's really interesting. so, 76% of academy sports 76% of stores are in space where there is currently no mask mandates compared to 27% for competitors such as dick's sporting gooded and 32% for walmart. if you look at posts on reddit yo

traders, but among people over 40 years old, still 17% used reddit for stock picks.dit, guys, it is friday so we've got to bring you some of the highlights let's talk about microvision first. ticker mvis. we're seeing a lot of that on wall street bets this week it's the top mention and after disappointing earnings this week, there were some -- also some disappointed traders on wall street bets today it has seen a big slide this week over to mind mend, the psychedelic company that went public this week, it's getting a lot of buzz online finally amd, the chipmaker with a beat this week dr. lisa su becoming a reddit idol one post we'll show you right now shows lisa as an action hero the title of this one "don't bet against the doctor." guys, back to you. >> kate, i love that joining the ranks of aunt kathie when you talk about microvision, that's an interesting case here because we're starting to see a split in the ranks of reddit investors. there's a sort of thread where earlier microvision investors are upset that wall street bets caught wind of their trade and they'r

. >> there's a new reddit trade on the radar, what name are they targeting, details ahead.it's cnbc stock draft day our own tim seymour kicking off the party with the number one pick will he see more alpha this year find out as we have greatest picks next, that and a lot more when "fast money" returns. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. sales are down from last quarter wibut we are hoping cthings will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today. >>> your pick this year is -- >> -- well, i'll tell you what, it wasn't easy there's no trevor lawrence out there but it's exciting time for our franchise. we're just a player away, happy to say, no

now and how companies should set new standards now in a world where communication feels more like reddithan it used to >> such an important insight, julia. i think we've left the platforms on this path of promoting prespeech, allowing different perspectives even when the perspectives of very hateful and even when these, when these hosts create harassment in real life. and now we're seeing it bleed into the workplace people are sitting at the same computers in the same place at their homes to participate in social media, and also to do their work you see a lot of harassment and hostility, the racist jokes and sexist memes are coming into workplace chat there's a huge problem that, you know, we need to address within the workplace. workplace shouldn't allow this type of -- not inclusive interaction, and they need to be a little bit more assertive in creating rules i think we didn't find a lot of companies, that they had actually changed anything that they had told their employees about how to interact when they moved to remote workplaces people need to understand that the behavior happenin

we got to face some facts here like it or not, the gang at reddit's wall street bets, their forum ismaking small cap stocks into big cap and take a household name and create a retail versus nothing. i wouldn't normally talk about online message boards, those who love to carry an enemy on twitter. look at the mentions column. i can't ignore them because i care about what moves stocks and this band of 10 million self-described degenerates is the most powerful i've seen in the stock market they took game stop from the teens to 400 and boosted amc single digits and operating on micro vision, yes, a money losing company that specializes in lidar like radar but with laser. this was a tie ny company and that's after pulling back from $28 peak just this morning creating a lot of millionaires, as they say on the reddit wall street bet site. like amc or game stop you can spend a good story about this a gigantic short position and trying to bust the shorts. that's what they do best i don't mind they went after micro vision i like the possibilities here. last night i got a call about the company

what's it going to take to keep stocks moving higher and how the reddit army has adopted a new dog. >esla's ceo elon musk speaking out about the crash of one of his cars and what it says about the tesla's real auto pilot feature. >>> covid all but over by july why a bio-tech analyst says it is possible and where we now need to focus our global medical attention. it is tuesday, april 20th. this is "worldwide exchange" right here on cnbc ♪ ♪ >>> you know, some of you say the show is all heart. welcome back i'm brian sullivan thanks for joining us. we're playing "barracuda" by heart. here is how we are halfway through the 5:00 a.m. hour you still have six minutes to go if you need to be somewhere at 5:30 futures are trending down. higher on the nasdaq the markets did not do a lot yesterday. dow dropped .30% the s&p, by the way, failed to hit a new high for the second time in 13 sessions. we were weaker, but keep the big picture in mind. i don't mean a week ago. strong for the past couple weeks. maybe a pause right now. dow futures down 78. the nasdaq dropped 1.4% yesterday. we are slight

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gamestop, amc, the reddit forum stocks pumped up. it is incredible.back with me into the studio. two lines down here. microsoft and tesla. the lesson is the perils of investing. you'll have to take my word for it that is tesla and microsoft. this is gamestop and amc. it is literally off the charts. it has taught novice investors a lesson in volatility they were not trained in. some people made a lot of money. a lot of people have lost. that has attracted the attention of regulators on capitol hill. emily: thanks for that round up. check out that story on bloomberg.com. now that regulatory tension around tiktok has cooled, there is one certainty. content creators are turning short form videos into a seriously lucrative as this. tiktok's five highest-paid stars have earned more than a million dollars. sponsored content for brands like spotify, amazon, dunkin' donuts. take the highest-paid tiktok ker. she left college to join a group of tiktokkers. sponsorships came rolling in. she became the global spokesperson for american eagle, started a spotify podc

was banned on reddit but the genie was truly out of the bottle and since then which was that in 3 years ago there is an entire deal fake porn ecosystem online every celebrity you can imagine is targeted but it's not only celebrities it is also increasingly normal women but again it is a gendered phenomenon it is almost universally targeted against women and there's been some very alarming reports recently of deep acorn also being targeted against minors so this very malicious use case of ai shows how your biometrics can be hijacked to put you in a situation which you never inhabited. i want to bring in dr giorgio who talks about an investigation that he and his colleagues did looking into. i don't want to spoil the story but it's to do with deep fake news and porn and have a listen to what he found out this is something to happen in just the past couple of weeks. once we uncover an investigation that more than 100000 people were adopted by the fake bots host or messaging person done on able to feed naked pictures of people starting from a single photo taken from their social media accou

the reddit crowd got behind game stop because they believe in his leadership this is a case where thedn't have to be along for the raid maybe he wasn't pushed maybe he wanted out of an increasingly crazy situation gamestop put its fate in ryan cohen's hands but we don't know what cohen is thinking he talked boldly about digitizing gamestop and the envision embraced by a legion of younger buyers, the posters on reddit's forum he co-founded chewy where current management makes sure you know he has nothing to do with the president of chewy. even though digital gaming already has well entrenched competitors, my personal view it's not that much like mail order dog food as one of his -- [ laughter ] as one of his last acts, sherman sold a bunch of stock that allowed it to clean up the balance sheet and have a war chest, i encouraged but was hated for. what matters now is the plan, assuming there is a plan we don't actually know if ryan cohen has a plan he certainly hasn't shared with us but the buyers believe in it. if gamestop really wants to harness this meme stock energy, they could turn

we all look at this and we think it's a reddit stock.'re momentum traders. of course, the pros are playing. they're making a bet based on momentum they're looking at option pricing and options volatility, and they're in there for the short trade, andrew that's a whole different game that what the reddit people are doing. remember, some of the largest hedge funds in the world, they can get out of their positions instantaneously. you can take a $16 billion book with all of its leverage and be at it in 96 hours. it's a totally different game. it's one of those other things you're never going to be at parity with a professional trader i want to play basketball in the nba. i wanted to be in "space jams" instead of lebron james, but that didn't happen, okay but at the end of the day, you have to look at it clinically, life is unfair the pros have an advantage over you and you're going to get annihilated. you may make money in the short term >> if that's the case, are we to say the markets are not a level playing field to begin with? is this wh

and then what content is appropriate to them or rise to the top and i love that approach reddit cannotke entire hands-off approach we saw what happened there and they decided to take a more hands-on approach with certain communities but instead of moving them they quarantined them as a regular part of our vocabulary. was a very hateful community instead of taking it down they didn't allow new people to find or join. the conversations were still happening and not driven underground. but they also just weren't open for anyone. that is a unique and interesting approach. that's what we need to do more of. >> we have a couple more questions. >> i thank you have to type it. we have a few typed questions in the chat which i will try to collate for you see you can answer altogether. what are some of the aspects of the internet that makes speech issues so much more intense and complicated? and nice link to that is kevin o'malley's question about vaccine misinformation. asking do you feel it's okay with vaccine injured children to be centered on facebook. - - censored on facebook. i will be davi

good day to have him reddit co-founder alexis owe hainia haine owe hainian was an early investor newagers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. >>> shares of stitch fix under pressure this morning. katrina lake will become executive chair. elizabeth spaulding will succeed her on the 1st >>> moderna joins us with a first on cnbc interview with the updated efficacy numbers "squawk box" will be right back. bike shop please hold. bike sales are booming. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from our resume database. claim your $75 credit when you post your first job at indeed.com/bike. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ ♪ ♪ old ideas, tha

back after pummeled from recent highs over growing crackdown fears morgan yusko is here >>> and the redditroaring kitty doubling down on his bet on gamestop. tell you how and why it is monday, april 19th this is "worldwide exchange. here on cnbc ♪ ♪ >>> welcome. good morning thanks for joining us. i'm brian sullivan let's get right to it. a check on your money and your markets. that's why you're here as we were halfway through the 5:00 a.m. hour, dow futures off about 80 points. coming off a lot of strength let's be clear markets soaring in april dow and s&p up four weeks in a row. nasdaq up three. pretty much every single global market in the world, literally, every single one except india, is higher in april a lot of global strength and here in the united states. >>> now to the top stories are this monday. new details emerging in the deadly crash involving a tesla in texas according to our nbc affiliate in houston, police say nobody was behind the wheel when the 2019model s crashed into a tree and burst into flames saturday night killing both men inside. one man was found in the front pa

destocked has been championed by reddit traders. -- the stock has been championed by reddit traders.lobal news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ i'm ritika gupta. this is bloomberg. ♪ >> the american jobs plan is about making sure america is positioned to compete for the next decade and for the generation ahead. we know that china and our other strategic competitors are already making major investments. it is time for america to lead the way again. tom: the secretary of transportation looking at the infrastructure view forward. we are going to rip up the script here. we were going to have a monday conversation on infrastructure, but we are going to do something different. the secretary of treasury this morning has come out, thank you axios for this reporting, and has said we need a global minimum corporate tax. daniel curtis of bloomberg has killed it with a colorful chart showing how far we have to go to a global minimum tax on corporations. this bre

. >> the game never stops at gamestop follow the reddit rebellion, the company naming a new chairman,investor ryan cohen and the face behind the volatility at gaems investing in the company last year to push the retailer to focus on online sales and this guy working from the inside out and now the new ceo. i guess that was inevitable. >> new chairman and i think that was inevitable and we talk about the short squeeze and the reddit rebellion but a lot of that sparked by the fact that cohen was involved and a massive stake and seen as somebody who could really turn it around. >> yeah. >> exactly it is interesting to see it is under pressure now down 4%. >>> we have heard about big money spent for collectibles physical and now virtual this week a comic book the first appearance over superman told for $3.25 million and tom brady rookie card autographed sold for $2.2 million makes sense to me. but check this out a letter written by babe ruth and written to a mistress and basically telling nell his wife is on to them and he can meet her at a hotel monday and signed babe and then underneath

also some of these reddit stocks that saw huge volatility. look at this chart.ows the dollar value of all of the shares traded. gamestop, amc, the reddit forum stocks that were really pumped up by retail investors, sometimes in the tens of billions of dollars on a daily or weekly basis. it is incredible. come back with me into the studio. look at this chart. these two lines here are microsoft and tesla. the lesson is the perils of investing. you'll have to take my word for it that is tesla and microsoft. the year to date gains are so minuscule, but this is gamestop and amc. it is literally off the charts. it taught novice investors a lesson in volatility they were not trained in. some people made a lot of money. a lot of people have lost. that has attracted the attention of regulators on capitol hill. emily: thanks for that round up. check out that story on bloomberg.com. meantime, now that regulatory tension around tiktok has cooled, there is one certainty. content creators on the platform are turning short form videos into a seriously lucrative business. accor

in the stocks on reddit or on robinhood. it is across the globe.is seeing significant volumes on small biotech and gaming names. ideas for the traits are often seen in poland's version of reddit. for more on the trade, the warsaw stock exchange joints me now. the exchanges also celebrating its 30th anniversary. thank you for joining me. >> thank you for having me here. alix: the trend in retail we think is very u.s. focused. what have you noticed? >> retail investors are key to our volume, around 25% of our trades are done by the retail investors. it is up from 12% in 2019. tremendous interest in the biotech and intraday traders. it seems like people have more money and more to spend on the exchange and more time to trade. alix: what makes you think that will continue. marek: since a return to what we have seen in 2010 and the 1990's, we are classified as a developing capital market. still the share of the retail investors throughout will be high 10% or 12%. it has doubled. social media it soon publish a support -- a report that shows if you look a

reddit announced this, reddit talk allowinghosting of rooms looked just like clubhouse with so many liveompetitors the state growing fast maybe not. according 0 censor data, plunged more than 70% from february. deirdre, not sure how much that matters. we're in a weird time with so many ways with reopening and attention going here and there i'm curious if they'll change the business model around audio, allowing creators to charge, making it easy tore audiences to pay. potential there. >> right that whole idea of tipping jon, how does that get people to stay on the platform good for creators. how does that keep listeners on? still lots of question there, with so many competitors coming on the scene, carl, i'm excited to see what spotify does here in terms of live audio. remember, this is an audio-first app. perhaps has a better chance than facebook and twitter and other competitors coming up here >> yeah. jon, i'm curious talking so much about audio this week, and to your point. it's hard to know if it's because we've run out of things to watch on video, or whether it's because we'll actua

something that was doing well on the green was those reddit trades you saw. one of the latest new fads and -- in that reddit space is clover health insurance rallying. 9.7% on a day that was largely risk off. gamestop also rallying. you saw good fundamentals, trading on fundamentals and -- in theory. the idea that the ceo will leave in july, potentially another sign of that revamp. emily: kriti gupta, thank you for that round up. now for the overall markets picture. i want to bring in ed ludlow. tech quite the drag on the big picture. i know you have been looking at ev stocks and more. ed: tech is leading stocks lower. s&p 500 is the main gauge, off by half of a percent. nasdaq 100 is a very tech heavy index and seeing greater losses. down 1%. semiconductors having the worst day in around a month down 2.5%. ,no real catalyst just general , risk off mode. it was interesting to see the yield on the u.s. 10 year treasury up by 2.5 basis points, 1.6%. flip up the boards. investors are falling out of love with tech stocks. last year, 2010 he was a fish 2020 -- 202

co-founder of reddit he's been a huge advocate for paid family and paternity leave.t's good to have you here you've written about this in op-eds, you've championed this i'm sure you were thrilled tol hear president biden talk about this last night. how did you get so involved in this issue why is it so dear to you >> i've spent three and a half years fighting for paid family leave because three and a half years ago i was lucky enough to have a daughter and lucky enough run a company where i had access to family leave. i was taking it much like the ceo you just described as a role model for those in tech as well as my firm we went through a pretty difficult childbirth my wife, you know, well documented nearly died from it our daughter was in quite a bit of distress. and thankfully at no point during those days after multiple surgeries, the weeks after while my wife was recovering, at no point did i have to worry about my job and my family if i had had to make that choice, i would have obviously chosen my family 100 times out of 100 and yet we had as much good fortune

what delta said about the future that could have this stock taking flight new developments in the reddit development. remember when musk steps to defend gamestop when share s went higher -- >> he's blasting the regulator saying they allow quasi anarchy to rule the markets pointing to tweets that championing the redditers. saying they are comments at a critical moment further destabilize the situation with gamestop on january 26th this year, was tweeted he bought gamestop and later game stonx on the same day. surged to the peak of $350 a share, the following day, they never reached that level since then and he appeared on cnbc to discuss gamestop neither responded to our request to comment in response to the einhorn letter a and saying the laws don't apply to him, referring to musk, and he can do whatever he wants. i got off the phone with a regulatory expert who told me it is hard to legally distinguish between those comments when einhorn himself comes out for or against a company that said this person notes from athenical standpoint business celebrities have the responsibility to think

we all know about the reddit investing revolution. it is not just about the stock market.terday's consumer survey by the new york fed i was struck not only those under 40 years old confident about the market going higher next year, by a huge margin their confidence over whether or not they lost their job, the ability to get one in three months, far more than anyone in the age group they feel confident about that. i think it is important these folks are unafraid. if wall street bristles at the notion there is too much optimism, they see it as a contrarian indicator, i would push back against that. joining me from walser wealth management, rebecca walser. rebecca, there is a survey from e-trade shows 75% of these retail investors, mostly young folks that the market is fully or somewhat in a bubble but 61% remain bullish though. i know, i know how this feels. they're essentially saying it is bub bubblelicious and i love it. what do you think about it? >> i think it is essential they are bullish, and we need to get some level of normal, whatever that, we need people optimist t

that means is these are the whales, these are the big guys that were trading this, not the retail reddit folks who have been casually trading crypto or doge coin over the last month or so. so is there a bubble in perhaps a doge coin? yes. in terms of the entire crypto market especially bitcoin and ethereum, no, i don't think it's a bubble. can we get a pullback? sure. but you know what, 62,000 has been bought up pretty quickly. and the total market cap of the crypto space never dropped below 2.5 trillion. in terms of the news that we saw coming out of turkey, i actually think there was news out of china which was just as important. there was a coal mine explosion in china overnight which disruptedded the bitcoin right there. and that may have as much to do with the drop that we've seen as the turkey news. but, you know, that's kind of where i see it. doge really worries me, but the entire crypto state -- it's not like 2017. because of the adoption of the enterprise use of blockchain. liz: scott, sarah, thank you. part of doge's moonshot overnight is that it was mentioned in a conagra ear

have had a rolling correction in some of the more speculative areas of the market, retail investor, reddittocks, renaissance new issue index. i think daily traders have found it more difficult to print money and apparently the second stimulus check is being spent rather than invested in the market. so you have taken down the whole tone and fever of the market as a result of that but, through that all, you have made new highs in most of the indices with a good rotation between growth and value. i'm actually optimistic you were able to accomplish the correction and the excesses within the context of a market basically still going up. charles: i love that explanation. that was really a fantastic explanation. rolling corrections in all the hot spaces have survived it. survey from allianz, 43% investors taking neutral stance up from the prior quarter, 43% expect increased volatility. some say this is a good sign. it's a contrarian sign. your thoughts? >> my thoughts the more skepticism you have is a good sign, there was a period, a little while ago where you were having universal euphoria and p

it is going mainstream right now it's still kind of focused on the nerd energy inside reddit. products like that go mainstream they go added to the most boring products on the market. >> the nerd energy inside reddit losh lipton, deirdre bosa and casey, thank you. >>> still ahead, super models, nba stars, and tiktok influencers. they are all coming up in this year's stock draft up next, guy adami joins me with his to be picks and the best performer. back in a moment (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ ♪) whatever you hope to achieve for your business, cloud first helps you get to value...first (♪ ♪) let there be change accenture >>> welcome back we are just moments away are the 2021 stock draft we do it every year geared to the nfl draft. in our case, ten go head to head to see who can be the best stock picker until the super bowl. you can pick from everything from blue chip stocks, recent ownerships, here to break town the list of candidates and review the draft is "fast money" trader guy adami good to see you again. >> what is up? i h

vision climbed to number 40 on the list after being unranked in the prior quarter and trending on reddithis week, skilz trending thanks to kathie wood the biden tax plan is creating buzz and anxiety with this group. they got into the markets during the pandemic, they've likely never faced capital gains. the giff says it all back to you. >> good use of that giff it hasn't just been, you know, equities there's been asset classes that have been extremely popular with the millennial or gen z retail investor crypto currency and nfts as well, have you seen evidence of that in terms of coinbase? has that name been moving up >> coinbase wasn't mentioned but a lot of blockchain chains moved up penny stocks, smaller names that do things like crypto mining have soared. anything with the name blockchain or crypto in it has become a popular bet and analysts from apex were saying this is the majority based on online forums, things on twitter, whatever is trending and seems to be tied to a meme or some sort of momentum on social media is rising in that list and people go to reddit and the on-line for r

. >> let me go to reddit hudson, if i k.as a police veteran this is a really bad era. i don't have to tell you for the u.s. capitol police. the third officer taken from them. one killed in the insurrection, one died by suicide right after the insurrection and now officer billy evans killed. what is that like for police when that happens? >> well, what it's like is for anybody else. if you all are working with someone, you've built a relationship with someone and they are your friend. you are devastated when they lose their life this way or really any other way. it really speaks to me as to why it's so critical, critical at this point, to hold people accountable, especially the people responsible for the insurrection on january the 6th. i don't know all the details of this case yet today. i know they are still coming in, but we do know that the capitol was previously attacked in recent weeks and months, and it is imperative that those people be prosecuted to the full extent of the law to send a message to future attackers that you will be he will accountable for your ac

but i wouldn't be long and we've seen what happens if you're short and you get in front of the redditwd. so i wouldn't do that either i just wouldn't play one thing i am looking for is i wonder when or if at some point ryan would ever sell shares. he made an absolute fortune on it it was brilliant i'm guessing when he got in at 10 or wherever the level was, he wasn't thinking 187. maybe he was thinking it could be worth 50. i don't know so that would be interesting if we ever saw him sell stock either way, i'm neither long nor short. just a voyeur watching the show. >> all right and lastly, shares of amc soaring more than 13% after getting a boost by b. riley securities upping its price from $7 to $13 a share. analysts saying the blowout box office of "godzilla versus kong" could point to' resurgence for movie theaters and by the way, this movie got the blessing of elon musk who tweeted about it and said that it was amaze, i think that's the word he used bk. >> yeah, that's what the youngsters say, it's amaze and they put a little fire emoji and stuff like that on it. but the point is

lots of people on the reddit chat rooms, that elon musk and mark cuban are pumping it up. it doesn't really have a purpose. it is a community and maybe they can keep value there. i would be very, very worried. one of my friends was investing at these prices. i do think there is some pockets of retail froth. exar p, which is under investigation, the parent company, under the sec, their coin went from $.40 to $1.60 in a month. doesn't make much sense to me either. so there is a retail frenzy. it's not really being seen as bitcoin and ethereum. quite opposite, money is coming out of bitcoin and ethereum, moving to others for more juice and excitement. matt: candida has been ahead of the u.s. in terms of regulatory -- canada has been ahead of the u.s. in terms of regulatory. as we get more products like that, will it bring more calm or less volatility, do you think, to price movements? mike: i think it should bring less volatility, and i say that because the more liquidity, the more people have easy access to make the bets they want to bet, you get price stability, you get pri

look, there are a lot of things going on with the so-called reddit phenomenon. but i think one of them is there are a lot of people out there who have an affection for amc, who did not want to see hedge funds short our stock, and try to force us into bankruptcy. and they stood by our side and we appreciate that and now, as we go forward, we want to run this company right these people are now our shareholders and we want to do what's best for our shareholders increased long-term shareholder value. as you said, one of the smartest ways we can do that right now is increase the available share count at amc, and then use the shares wisely. in the next week, in the next month, and even in the next year and over the next five weeks and five months and five years ten weeks and ten months and ten years. >> you read my mind. the last question, i thought the shorts were trying to just drive you out of business. i thought the shorts were taking the stock down, creating some level of fear and then making it so the bonds rolled over, making it hard for you to be able to raise

is it reddit, too? i bet they are on reddit >> of course a lot of redditers will talk dogecoin >>> let's get you caught up on news just out from paypal. venmo will allow 70 million customers so buy cryptocurrency. you can choose from bitcoin and bitcoin cash and etheren the app will feature questions about cryptocurrency this could see a huge surge into the space. this is wis what we talked aboun the fall when paypal first got into this and given the graphic on venmo, you could see more action starting today. we will keep our eyes on that. we are watching the price of bitcoin in the stack you are looking at bitcoin trading in the mid $50 at this point. down to 55 $272,000 joe. >>> thank you. an update on the tesla crash that killed two men over the weekend. local police believed no one was in the driver's seat when the car crashed. data logs recovered so far that auto pilot was not enabled and this car did not purchase full self driving moreover, standard auto pilot would require lane lines to turn on w

reddit foreign official. no hitter, so, yes, baseball's new rules get used to him.are, i guess. alright, bomber for bumgarner. very good. hey for bumgarner. very good. hey julie, not b okay, in avatar, when they have sex on pandora, they hook up their ponytails, so we know their ponytails are like their junk. yeah... so? so, when they ride horses and fly on the birds, they also use their ponytails. what's your point? my point is, if i were a horse or a bird, i'd be very nervous around james cameron. it amazes me how you constantly obsess over fictional details when there are more important things in the real world to worry about. for example, why wasn't william shatner in the new star trek movie? hey, sheldon. i was up in the administration office, and i happened to overhear the name of the winner of this year's chancellor's award for science. and you want to rub my nose in the fact that my contributions are being overlooked again? i am the william shatner of theoretical physics. all right, i'll play. what self-important, preening fraud are they honoring this year?

the reddit investor who you may recall helped fuel the dramatic surge in game stop share price earliergoing millions of dollars in quick profit and exercising his core options to buy even more shares. that gave investors plenty to chew over. absolutely, michelle fleury. forget the big screen — it's all about audio — at least that's the focus of facebook boss mark zuckerberg. he announced his latest plans which include a new web—based app called hotline. it enables hosts chat to their audience via audio and text — also an audio version of facebook reels called soundbites. a one—year—old app that has been capturing a lot of celebrity attention is called clubhouse. who has been using that? elon musk, oprah winfrey, and mark zuckerberg himself have popped up on the service. perhaps that is what inspired him to make a move at facebook. is a social audio set to be the next big thing? joining me now is cyrus mewawalla, head of thematic research, globaldata. welcome to the programme. talk us through this rush to audio. ifeel like we're going us through this rush to audio. i feel like we're goi

what you see is more competition coming from these small upstarts whether it is reddit, to talk, next door. there are a lot of companies starting to capture consumers attention. that could be why twitter is turning to software. if you think about it from an advertiser's perspective, they have to prioritize where there spend their money. and where they spend time developing ads. maybe twitter is getting cut out for these new upstarts. haidi: had you position for the reflation trade given we continue to have the vaccine rollout and the global reopening? are we are reassessing whether the reflation trade, the incoming expectations is at odds with continued growth in tech? >> i think the reflation trade is living a little outside of tech. we are seeing it in places like copper which has seen a resurgence in prices. when you are looking at greater economic growth and supply chain issues and all this money that needs to be spent at the same time, you can see economic growth but you can also see inflation. that historically has favored commodities at the center of economic growth like copper

because steve huffman is the ceo of reddit,

that portfolio with coinbase, there was also reddit. kudos to you for those choices.nitialized managing partner and cofounder. thicket. coming up, general motors self-driving cruze is going to dubai. the ceo will join us next. when we can expect to see the cars for commercial use in the united states. this is bloomberg. ♪ caroline: cruze, the self-driving car unit act and -- listed in 2023. this marks the first international expansion outside the united states. joining me, ed ludlow, who knows all things having to do with the electric and vehicle space. what do you think they want to achieve by 2023? >> they laid out a vision four or five years ago to make driverless trips 25% of total trips traveled in dubai by 2030. i think they have chosen cruise because they think we have the best chance with that technology. our vehicle, cruze origin, the fact that we are all electric, partnered with general motors and honda, the ability to build these vehicles and deploy them at a really big scale. >> do you expect to launch commercially in the uae before you launch commercially

garry: that term came out of reddit and was taught to us. 2014 through 2017, there was a mass exodus. coinbase had really hard times trying to hire and key people. the people who stayed were the true believers. they are the ones who will bring the future. alix: great stuff. i know a big day for you. we are waiting for the next indication. the managing partner, thank you very much. this is bloomberg. ♪ ritika: it is time for the bloomberg business flash. antiharassment and workplace prevention training will be required to help fend off criticism that the chain overlooks workplace abuse. the franchise owned and franchisee will start next january. china's asset that up today. -- concerned about potential restructuring sent along dollar bonds plunging to distress levels. china reinforces the idea that struggling state backed companies should rely on government support. one of china's biggest companies, tencent holdings may be seeing the shockwaves from the situation. tencent is holding off on marketing a planned dollar bonds deal today. the offering was going to be one of asia's biggest

cryptocurrency platform gemini announced a partnership to launch a first of its kind crypto rewards redditr. more than 140,000 are already on the waitlist. joining us now, noah. how does this work? noah: this is a fantastic product. the way it works, we partnered with mastercard and will be issuing this gemini credit card a bit later this year, and what is great about it is that users are able to earn crypto on every swipe that they make, every charge they make, they are able to earn crypto as a reward. so instead of frequent flyer miles or hotel points, they are earning crypto. emily: you pay in traditional credit, traditional money, but you earn crypto and return, is that right? noah: exactly. what is great about it is it allows people who are crypto curious, for those users, this is a great way to passively get exposure without changing their behavior. they continue to use the card when they would use it, and they will start earning bitcoin or the other cryptos we have. emily: you can choose from any of 30 different cryptocurrencies available on gemini. talk to us about the interest, 14

morgan chase and goldman had a lot to do with the reddit-fueled craze over gamestop, the fervor over and you had both banks and wells fargo releasing reserves for loans that never materialized. there had been a warning that the good times could not last. it looks like profits were outsized, surprising everyone. however, j.p. morgan did report that loans were down 4%, a 14% decline in credit card loans. wells fargo also root -- also reported a slump. that has raised concerns. you did see j.p. morgan stocks go lower. concerns about what this means about loan demand going forward. although the banks tried to put a positive spin on it, that there is pent-up demand that will probably pick up in the second half. back to you. rishaad: thank you. next, richard byworth on all things crypto and the coinbase ipo. ♪ ♪ >> when people called cryptocurrencies, they are really the vehicle for speculations. nobody is using them for payments. it's a little bit like gold. >> this is volatility that will be unstable in terms of investors and analysts understanding what coinbase actually is. >> i believe