what, however, do you feel the reddit rebels can do now?ext step, their next opportunity? >> look, they're constantly on the look out for these in efficiencies. at the end of the day, the people that are coming to the market, they are looking to find a way to profit and these retail traders they don't have these high frequency trading, they aren't co-located, they don't have big hedge fund data analysis. they are looking for something they can use from their own cell phone or whatever it is and find an advantage and an in efficiency they can explain in the market and prior to gamestop they didn't have to do so much with picking a stock and making the price of that go up. it's about finding these quirks in the system and identifying them and you have literally millions of people that are like beta testing the market, the financial system, and they've found them before and they will continue to find them. how and what they are going to be is really hard to tell but i can guarantee you that it's going to be spectacular when they do and it migh

but will the reddit revolution continue? tackle that and so many more issues that we have as question marks in front of us, the murray brothers. ubs financial services managing director jonathan murray and retired financial services executive david murray. jonathan, i'm going to begin with you even though if david's retired, something tells me he may have done better than you because you're still working. [laughter] >> yeah, you better start we me before he goes to nap. so, yeah. [laughter] >> you're so funny. >> your tie is a little too tight around your neck. liz: listen, i went to santa cruz, i know about the birkenstock revolution. jonathan, the reddit revolution was not, in my opinion, the story of last year, it was the story of the decade to see that the retail investor could, in the aggregate, join together and actually move a market whether it was gamestop, amc, blackberry, bed bath and beyond. there were quite a few of these names. does that continue? does their interest and their power continue this year? >> yeah.

reddit revolution?t was sort of my internal gauge a year ago on the value of this overall would there be people who build reputations on writing about, you know, having researched cotenot just about one or two stocks, but about sectors overall? you know, ways of looking at the market, would they draw a following? is that happening as a way of arming retail investors with information, from what you've seen >> so i think it did happen with keith gill as we saw with the gamestop phenomenon last year he was one of these power users. he hasn't posted in quite a bit. but my sense is that certain people have tried to build followers. a lot of people i've been speaking to when they're on reddit, they want to remain anonymous. some people i've spoken to don't want to share their names with the "wall street journal" or with the world because they love, you know, this intimate online community they have they can be totally anonymous and say whatever they want i've spoken to people who say there are career run cush

reddit the forum behind the famous wall street bets reddit crowd which sparked the meme craze last januarygo public as early as march with a valuation of between 10 and $15 billion. charlie gasparino is here now with how he believes the markets are going to receive the company 's debut. what are you hearing charlie? charlie: we're hearing from underwriters that not good, particularly as the ipo market could unravel but i'm not quite sure what jamie told maria. i have to watch the show tomorrow morning, but if he's talking more rate hikes sooner, is that kind of what you just said? liz: lots. charlie: okay that means the economy and the markets will slow down and that's what we're getting so i don't know what he's talking about the consumer and all this. yeah, we're not going bankrupt but guess what? the markets are going to trade-off. they are trading off now on this whole rate hike fear that occurs a lot sooner and it's going to upend the ipo market. one ipo i keep hearing about that could be upended and delay ed into next year, particularly if these market conditions as you see right now

january 6th committee has subpoenaed reddit, twitter, and the parent companies of google and facebookthey're asking for details on what those companies did and did not do before and after the riot. joining me, nbc news justice correspondent pete williams, nbc news digital senior reporter ben collins, and nbc news capitol hill correspondent leigh ann caldwell. pete, what can we expect from these two court hearings today and what do these charges tell us about the doj's investigation right now into the january 6th attack? >> oh, these charges are a formality, because they were arrested in both texas and arizona. they will have an initial appearance before a federal judge. and then arrangements will be made to get them back here to washington where all these cases are now consolidated here in the u.s. district for the district of columbia. and that's where they would stand trial. so the first order is to formally present the charges. then at some point the magistrate judges will set a date possibly for a detention hearing. there will be maybe another detention hearing when they get here

one year since the reddit rebellion. look at the winners and losers since then, obviously with it tougher for losers lately. let's start with dom chu >> the state of play right now is about the nasdaq trade you just mentioned kelly mentioned that 200-day moving average for the nasdaq composite. 14,688, that is the key level. that's that 200-day average price. we haven't seen it dip below there in quite sometime, which is catching a lot of trader attention. that's the reason we are seeing the nasdaq composite down about 2% right now, off the session lows the dow industrial is off nearly 400 points, 1% losses there. the s&p 500, 4614, down about 1 and a third percent overall. if you look at the story for what is moving right now, interest rate is a big part of the story. two-year highs for the ten-year treasury note yield. at one point today, currently about 1.78%, it got north of 1.8% at the highs of the session in terms of yield. it is hitting many technology sectors, think cloud computing, semiconductors look at snowfla

now reddit also reports that gaming was its second highest viewed topic last year after only crypto. the social platforms want to keep that game content because ad dollars follow that install for games has been a reliable growth driver for the social platforms and this is an area that has drawn the attention of all the tech giants that's why amazon bought twitch and why google made a big push for its youtube gaming app john, the question really here is who is going to win this war or does everyone own a piece of it >> i'm questioning what the war is you know, we had ironsource on this week, d, and i'm fascinated with the idea of whoever has more data about not just what games are being downloaded but what games are liked by people who like other games what they are doing within those games and what their other interests are. that becomes really valuable not just for advertising but also knowing what people will pay for. and i'm curious in whose strategy is the best whether it is about having console, pc and mobile games or about having access to data about all of that, not just withi

do we have a response yet from facebook, google, youtube, twitter, reddit?aomi: we don't have a response yet, but we would expect them to say something like they plan to work with the committee. the question always in these instances is how quickly they will be able to turn over the documents and whether there will be some questions about what qualifies and what doesn't under the subpoenas. emily: naomi, thank you. meantime, elsewhere in washington, thickness from apple, alphabet, meta, and other tech companies met with white house officials to talk about cybersecurity. in particular, an incident from last month that sent shockwaves through the national security community. jack with us now for more. talk to us about why the white house held this meeting, and what do we know? >> if you remember a few weeks ago, there was this weird case of software nobody had heard of in the mainstream. essentially it affected millions of systems around the world. that really drew attention to the nature of the open source software. software that is available for free for the

they say watch the ipo reddit.used by meme stock traders that were talking, you know, essentially sharing retheir research about various meme stocks, amc, reddit is now readying an ipo. morgan stanley and goldman sachs are the advisors. people talking about the spring. that is smack dab in the middle of when the fed actually starts raising rates. if there is casualtity to be had, if the fed goes through raising rates real early like they signaled the last couple of days, reddit ipo most likely according to underwriter sources will be delayed later in the year unless market conditions improve for some reason. you can't see that happening if the market is now selling off based on fed rate increases sooner rather than later, tapering sooner rather than later. ipos of riskier stocks. reddit is kind of a risky stocks. it appeals to meme stock traders. it goes by the wayside if people stop doing that, because rates are rising and they throw less risky assets, there is less reason to be on reddit. keep an eye on this stor

we'll look at the huge amounts that have been made and lost since the start of the reddit rebellion. we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq one-year anniversary of the rise of the redditers while some made a lot of money, there were a few corporate executives who won and lost, too. robert >> kelly, the biggest winner is ryan cohen in 2020, he began buying shares of game stock for between 4 and 5 bucks a share. by the end of 2020, he's invested $76 million now it's worth $1.1 billion, giving him a 1400% return. a year ago today, he was named to the board as part of the company's shake up he is now the largest individual shareholder and says he has no plans to sell, writing in a recent tweets, quote, deciding between two options in my gme stake, hold or holder. james wolf sold $17 million of his shares last january. other directors have sold over

aid groups have warned of a pending humanitarian catastrophe if more isn't done >>> one year ago, redditrevolution on wall street. a look back at the birth of meme stocks and the impact on established investors and everyday people. >>> and a horrific-looking crash scene. a downed medical chopper with an infant onboard, but not a single death. tonight, why the cops say they want to shake that pilot's hand. . lift and push and push! there... it's up there. hey joshie... wrinkles send the wrong message. help prevent them with downy wrinkleguard. feel the difference with downy. welcome to allstate. where auto insurance now costs less. ♪ now save more with allstate. you're in good hands with allstate. call a local agent or 1-888-allstate for a quote today. earn about covid-19,agent or 1-888-allstate the more questions we have. the biggest question now, what's next? what will covid bring in six months, a year? if you're feeling anxious about the future, you're not alone. calhope offers free covid-19 emotional support. call 833-317-4673, or live chat at calhope.org today. >>> a 5-year-old boy p

david. >> thank you, morgan we're going to turn now to the so hf called reddit trade.s one year ago that they joined gamestop's board of directeders. the stock is sky rocketing on that news and as well, well, a lot of hedge funds got caught or at least the number of prominent ones in a vicious short squeeze. more on the impact for hedge funds and investors that have held short positions since those events leslie >> yeah. long verses short. bulls verses bears two sides of a trade make a mark but in game stop, it was like an online battle straight out of a video game the saga started months before gamestop started truly rallying. then at $12.5 billion hedge fund disclosed a short position through put options which got shared on reddit's wall street best forum more than 100% of the tradeable shares were held short a year age. so, as the stock surged over the course of january, thanks in part to retail investors swapping stock tips on social media, the general consensess was to force melvin and other hedge funds to cover at a loss that triggered a spike in gamestop shares

. >>> one year ago reddit started a revolution on wall street.birth of meme stocks and the impact on established investors and everyday people. ♪ >> and a horrific-looking crash scene, a downed medical chopper with an infant onboard, but not a single death togh w tnit,hyhe cops say they want to shake that pilot's hand. jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. better skin from your body wash? try olay body wash with skincare super ingredient collagen! olay body wash hydrates to improve skin 3x better, from dry and dull to firm and radiant. with olay body, i feel fearless in my skin. you could wait... all night... for an email response from steve, who will sign back in at 9 am tomorrow morning. orrrr... you could find the answer right now in slack. and give steve a break. slack. where the future works. >>> a 5-year-old boy playing a lighter started the fire that killed 12 people inside a row house i

the controversial social media app that helped fuel last year's meme stock frenzy, reddit, said to be public as early as march. sources say it is working with morgan stanley on the ipo, which could value reddit at as much as $15 billion. it was valued as $10 billion last summer. coming up, the fight over vaccine mandates, citibank telling employees, no vaccine, no job. the supreme court is casting doubt on whether 80 million workers are required to get the shot. that's next. this is bloomberg. ♪ ♪ emily: welcome back. as the pandemic drags on, a hint of optimism from president biden. president biden: i don't think covid is here to stay, but having covid in the environment here in the world is here to stay. covid as we are dealing with it now is not here to stay. we have so many more tools we are developing. emily: we hope, the comments coming from the president as a new study out of south africa shows that patients infected with the omicron variant, less than 5% died from this current wave compared to 20% during other waves. this month, hospital admissions declined, and fewer people w

. >>> rough day for the reddit crowd.next for trade details next we're breaking down the name of the trades next. machin throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. . >>> welcome back check out the action in alcoa, walmart and general mills. time for our traders choice. which one do you want to trade >> i'm going the trade it with general mills. the only reason why i'm trading with general mills is that i'm going for that yields on the stock. i think inflation will be transitory it's budding up against that 2018 resistance. i don't think it has more in the tank past like 62 or so. we're trading at 58. i think you have long term resistance general mills, what do you want to trade >> i've been waiting for years to talk about this stock sadly, i don't think i would trade general mills for the long term here is what i'll say about

gamestop, reddit and the policing of investors. the book is really good.ouple of days. is this a reality check that the end of easy money is coming or is this something else? >> it's about the fifth time that we've heard that the end of easy money is coming. it might be for real this time. there's a bit of a boy who cried wolf element to it. we've been living on easy money since the financial crisis and a lot more was poured on in the wake of the pandemic. it's possible this time is real. call me up and i'll be back on and we can talk about it. we'll see if it's another false alarm. that's the best line i can give you. >> if we each had a crystal ball we would have a private island in the caribbean. >> yes, we would. the more ominous theory is this is a super bubble. years of easy money from the fed, it has fueled all of these bubbles. teenagers are trading meme stocks. do you buy this super bubble theme? >> you know, as i talk about my book here, i've spent all of these years writing about markets. it's occasionally of interest to the broader markets. her

today marks one year since the reddit rebellion began sweeping through the markets.ail investors making their presence known last year, leaning on a tactic commonly used by hedge funds. looking to democratize markets and make a little money along the way. the evolving strategy that they call themselves the apes we're not calling them apes, they refer to themselves that way. >> some of them, not all of them what was once left to wall street pros has now become main stream so retail investors dove into options trading in 2021. look at the surge in value in options traded in amc the past several years. this is the graph on your screen right now by two of the biggest options makers so big jump in 2021. that's because of the simplicity of smart phone apps like robinhood. the meme investing journey pretty much just began with a click of the button. >> i invested through td ameritrade and cash app. all the money i had saved up >> tony said he invested roughly 60,000 disease and made a profit of $70,000, betting on companies previously left for dead but many retail traders o

let's get back now to the markets and maybe get back to the return of the reddit crowd favorites roaringain gamestop leading the charge on word it will create nfts and explore cryptocurrency partnerships the amcs, blackberries of the world, they are higher right now but those stock moves pail in comparison to what's happening with the options everybody pails in comparison to jon najarian, good friend, good guy. you know i'm going to rub it on thick, jon, because you know you're getting up at whatever time it is for you out there we appreciate it, though what the heck is going on with gamestop options >> right well, brian an awful lot of speculation before that nft news was announced yesterday. and as soon as that news hit the tape, of course, the stock jumped almost 30% in the after hours. it held onto better than 23% of that jump. but to your point about how much those options moved, you know, they were buying options at the 130 strike, which was at the money. the 135, the 145, the 150. in real big numbers, brian even big for gamestop. so when they're buying those options, some of which

the page has become one of the most popular on reddit. there is now over 1.6 million subscribers.-work group doreen ford. all right, so, doreen, why do you like the idea of being home not working but still getting paid by corporate america? >> yeah, so, this is a misconception about the movement. so, we're a movement where we want to reduce the amount of work that people feel like they are forced to do and so we want to still put an effort, we want to put in labor, but we don't want to necessarily be in a position where we feel trapped, you know, you just quoted from office space where that person feels very trapped in their job. i think we are calling for a society where there is less of that. but, absolutely people still want to do things. they just want to do things where they feel rewarded and they feel like they are in a good spot in their life and that their job respects them and stuff like that. you know, there are varying positions. >> jesse: doreen, you are not being forced to work. this isn't slave labor. you have applied for a job. you have agreed to the terms and condi

so they're trying to sell them on reddit chan people are buying them and sales force hiring for 1700 u.s. rolls right now. many of these pay over $100,000 sales force has set a goal to over 12,000 new jobs last year. many of the new jobs or hybrid said their part from home in part from the office. >>and thank you for watching kron on at noon. i'm teresa is stasio. we'll see you back here at 3. >>the news continues on kron on grab your phone and scanned the qr code on your screen to download the kron on app. also available on roku. amazon fire stick and apple tv. >> judge tanya: the living conditions made you and your girlfriend sick? >> yeah. >> judge tanya: sir, who's your witness? >> she's my property manager. >> that's not true. that's his girlfriend. >> i put a ring on it. we're engaged. >> judge tanya: congratulations on your engagement. glad we settled that. now let's go back to the case. >> announcer: "hot bench." judge tanya acker. judge patricia dimango. judge michael corriero. three judges. three opinions. three judges. three opinions. one verdict. captions paid for by cbs

. >>> one year ago, reddit started a revolution on wall street.look back at the birth of me is me stocks and investors and every day people >>> and a horrific-looking crash scene. a down ed plane down, why the cops say they want to shake that pilot's aid. >> . >>> a five-year-old boy playing with a lighter started the fire in philly. that from fire officials today >> we believe with certainty so 99-to-100% confidence that the first item ignited in this place was a christmas tree we believe with near certainty based on the evidence that the ignition source for that tree was a lighter. >> investigators say they've sorted through debris and examined electric am outlets at the scene. they determined the christmas tree was the first thing to burn before flames spread to the rest of the house it happened in a duplex where 26 people lived 12 people, including eight children killed. fire investigators say the five-year-old boy told them exactly what happened and he was the only one on the second story ben when the fire began he was one of two people in hi

as for reddit, thompson writes the company failed to conduct, quote, a thorough review of records inequest. and the committee is seeking more information from twitter about why it suspended the account of former president donald trump following the capitol attack. >>> in separate statements, alphabet, meta, and reddit write they are cooperating with the committee's request. twitter so far has declined comment. >>> also, house minority leader kevin mccarthy is once again defending his decision not to cooperate with the january 6th investigation. in an interview yesterday, mccarthy claimed he had no information to provide to the committee about his phone call with former president trump during the riot. the house committee has said it will not rule out subpoenaing the republican, though the legality remains in question. it will be a political firestorm. he's the gop leader. mccarthy was also pressed yesterday about his comments in the days following the riot where he placed blame for the attack squarely on the shoulders of trump. >> a year ago today on january 13th, 2021, you said that

reddit chan people are by now and sales force hiring for 1700 u.s. rolls right now. these pay over $100,000 sales force has set goal to add up 12,000 new jobs last year. many of the new jobs or hybrid said their part work from home in part from the office. live from new york, i'm jane king. back you i i know you're talking it. >> ever. you are hybrid. yeah. your hybrid. rikers your and you know, sort. i don't want to be. haha. >> i know. hang in there, haha, we'll see you. >> that's what we're seeing a couple more weeks of our omicron kind of shelby. you never know. we are nimble. the senate failed to pass a new voting rights legislation. acta democrats had hoped to pass this before the november elections. but didn't happen. they were unable to change senate rules to push past a republican filibuster and that means the republican senators were able to block the bill. the vote while democrats say that democracy is on the line in this republican minority leader mitch mcconnell says >> that they're exaggerating the effects of the new voting laws in several states. in a

one year ago tomorrow, it all started with those amc apes, yes the reddit room passion all retail investors of them still not leaving, charlie? charlie: yeah, the stock was down 20% today, liz, and it obviously got saved by increased retail buying at its lows, so they still believe in the story. we should point out that this is a highly-speculative stock. if you're the average person out there listen to what i have to say, because it could cost you a lot of money and we should point out that amc, if you take it year-over-year it might be up like 600 or 700% and as low as it was in penny stock territory before the meme stock frenzy started, and now it's 16 or $17 stock; however, it's well off its high, it's trading as high as 72 as you know, and its been down ever since over the last several months, so why is that? well, there's a few things going on. you have fed policy changing, and as the fed raises rates, you saw it in the market today and your last guest, i guess, i think put it very well. there's now a debate over valuation because is the fed going to raise three times, four times, fiv

other meme names like palantir in the red the anniversary of the so-called reddit rebellion next week. >> thank you very much mike, it is interesting to see the meme stocks work there's fundamental news there's word that gamestop is going into crypto. they're wokking -- >> oh, define working zblchl. >> up 6% they're up on a week that the nasdaq is down more than 4%. >> okay, okay. where did it come from 240 on thanksgiving. right? >> sure. >> lost most of what happened overnight. yes, they have drivers it is about kind of if the crowd decides to all run to the soger ball at the same time they go up from here be i think more telling with the splashy announcement and have to see if there's traction why there's different ways to frame it. >> sorry let's hit some media stocks including discovery. julia boorstin has a breakdown hi, julia. >> discovery up nearly 17% with a percent day since set of 2008. analysts bullish on the merger with the discovery assets and the potential for the combined company to compete against netflix and disney roku shares down 6%. off 20% in the past week dragge

and passing the time away waiting for covid results, stanford and reddit washington state. they scored 21 straight points in the second half and spencer joins give a 10 point lead. but women -- a road win. the san jose sharks winger will be there with his first all- star selection. leaving the team in goals but not enough. the host of the rangers and a chris kreider shorthanded goal. that is a six shorthanded goal allowed. brandon snyder scored and it was his first goal and the first-ever nhl game and the rangers dropped 3-0 shutout on san jose. write this down or take a screen grab. 49ers in the cowboys wildcard playoff here on kpix on sunday at 1:30 pm kickoff. the former 49ers fullback was on a hot radio mike unfiltered about a 49ers lack of energy. >> i do not see it happening, i don't think they are type of team but i am excited for them this week. >> them or for radio show, you cannot corral a bull and that is the way tom rathmann played for the 49ers in the glory years of the 80s. we will see you later. >>> that's going to be a fun football weekend. 3 minutes before

. >>> committee investigating the insurrection wants answers from twitter, reddit, and parent companies of facebook and google have been subpoenaed. demanded records last summer and received inadequate responses from the four companies. wants records relating to domestic terrorism, spread of misinformation and efforts to overturn the 2020 election. >>> i'm chief meteorologist jeff ranieri, october 1st, how bad the drought was, but brand new update, looking a lot better. details and what's ahead for the weekend. >>> we investigate safety concerns at aging condo buildings. what we found at one building after visiting it for months. >>> is it too much too soon? a word of caution from doctors about booster shots, how too many could back for. >>> shouldn't we be concerned about older condominiums? after collapse of high rise near miami, many bay area owners are worried about the buildings. one says it's seen cracks and water leaks for years. >> they contacted investigative reporter candice nguyen and her digging has already raised questions. >> reporter: we visited the san leandro building,

. >>> the panel suspend parent companies of google, reddit, google and facebook and wants to know how much violent extremism on their platform may have contributed to the capitol riot a. spokesperson says facebook is working to provide the fess information. google said we have been actively koornth and we have strict policies to incite the violence or 81 pines trusts in elections. a red did spokesperson says the company will continue to work with the committee and twitter declined to competent. >>> sticking to the subject of january 6th, the most serious charges have been issued the founder of a militia group called the oath keepers has been arrested he's charged with quote se dishes conspiracy along with when e ten others. pete williams reports. >> reporter: it's the most high profile charge yet, stuart rhodes of texas, the leader of the oath keeper is in federal custody to carry out acts of violence to stop congress from formal lip counting the electoral college vote for president. they're charged with the crime of seditous conspiracy all crimes are serious, this is an unusual charg

twitter, reddit and the parent companies of facebook and google have been subpoenaed. they have received inadequate responses and the once records relating to domestic terrorism and the spread of misinformation and efforts to influence or overturn the 2020 election. >> focusing on our climate and crisis tonight. governor newsom is outlining a multibillion plan to make california greener and cleaner as hundreds gather to denounce a new proposal to make solar power more expensive. here's nbc bay area's business reporter scott budman. >> hundreds of people rallied in san francisco in the name of solar power today. >> hey, hey, hey, it's got to go. >> they're fighting a proposal before the california public utilities commission that would raise the fees for people who have solar and the prices for those looking to buy solar panels. >> what do we want the state of california to protect? >> solar! >> they say the plan will cost solar industry jobs or potentially kill the industry outright. advocates of the plan say it will more fairly distribute energy costs and protect lowe

make money, but for the first time a group of very small individual investors banded together on reddited the game for good. let's find out. cnbc's frank holland has been all over this story, also with us, josh brown. frank, it has been a year since small traders tried to flip the script. what kind of lasting impact has it had? >> number one, happy new year, stephanie. i haven't seen you in a while. the billing impact is a combination of empowerment and increased interest in the stock market. a lot of people think the increased interest, the little guy on their personal computer, that's pushed the s&p to 16 record closes in 2021 compared to about 35 back in 2019 and also just people see the stock market more as an investment strategy, whether it's saving for your son's college fund or more sophisticated investors, hummy yang, he gives out financial advice. he got 50% of his gains from gamestop last year. >> josh, big-time investors have been legally gaming the system, manipulating the markets for years and when this all started happening people said it's a flash in the pan, regulation i

it sent subpoenas to google, facebook, twitter, and reddit. the committee wants information on how and if these companies spread misinformation in their efforts to overturn the 2020 election results. our business tech reporter scott budman is here. is this just a bunch of political posturing or do these subpoenas have some teeth? >> i think it has some teeth. the committee really wants to know what the companies know about how information was spread, information that led to a lot of what people did. not only is this the way people spread information about where to meet and what to do bow now that people are able to track down some people who did riot on the capitol it is because they posted information about themselves, live and on tape right on the actual social media sites. it's evidence before and evidence after. >> there is usually a tweet for that or facebook live somewhere. didn't congress and the committee ask for the same information before? >> last summer they asked for it for 15 companies. you also had gab, parlor, tiktok, twitch, sn

it interview with west virginia metro knows and this is what he said why he opposes the child tax reddit-- credit. >> nothing in there about holding people accountable. there is no work requirement. there is no means testing step do you believe people making two and 400 thousand dollars will get the child tax credit? the price would go up step we have children now living with grandparents and with the assistance we give for the welfare system, don't you think we should make sure the money follows the child so if the grandparents are raising the child, they are getting the money and not the parents. so many things we can check this off that they won't talk about so we have been way for -- far apart so philosophically. host: what you say to him? guest: first of all, often senators are not close to those who are poor. they don't see their faces or their lives and when you are closer to those families, you see the knee that is there. i am not against means testing in terms of families who most need this. that's where the focus should be. work requirements would put poor people back into pove

. >> the short sellers did not count on the reddit rebels. >> they have a website for everything.d playing to win. >> everyone started buying up stock. >> january 12, the stock is trading at $19. this movement takes hold and by january 25th, it's at $500. >> imagine working at game stop corporate. you don't want to rock the boat. how much is it worth. >> this is a true david and goliath financial story. the little guys are teaming up and beating the big banks at their own game. >> they pulled the rug out from undermeeting the institutional >> they're beating the big hedge funds of wall street. you have to love that. >> it caused groups to suspend trading and made it look like they were protecting the overlords. >> it's like robin hood doing a deal with the sheriff of notingham. when they restricted trading on game stop, everyone condemned. >> when aoc and ted cruz agree on something it's the apocalypse. >> wall street is a necessary thing. i don't begrudge them having their game. but if people learn the game and play too, you can't penalize them for playing and for winning. >> the

reporter: bloomberg has learned that read it -- reddit is working with morgan stanley and goldman sachs and might be valued at $13 billion in a public opening. the company was valued at $10 billion in 2021. new oriental says that sales plummeted by 18% following beijing's crackdown on the tech sector since -- in july. they have cut back on tuition funds and other expenses. that is your bloomberg business flash. francine: the evidence of the tightening labor market and the growing applications. here are some of the reactions. >> it is a confusing report. >> i am not sure if it is a complete all clear. >> there is nothing in the report that will change what the fed signals. >> all of the signals are that the labor market is tightening. >> we are still moving along around formant climate -- foreign climate dynamic. >> the fed cannot escape the inflation issues. >> all about inflation. >> they are going to chase this thing and hike pretty aggressively. >> the march rate hike is definitely a go. francine: let us get to the key market drivers. thank you for joining us today. it was pretty ama

been social media all over reddit dog, all kinds of dog. sites like pet pet amber alert.innis says she thought she got a break saturday when someone contacted her saying he had the dogs and sent her this video as proof. mcinnis says. a man claimed to have purchased the dogs from someone at lake merritt and wanted money in exchange for their return. i will give a reward for the safe return of the dogs without asking any questions. i'm not interested in prosecution in anyway, after making a deal with the person who had the dogs, they were returned sunday evening. mcinnis says the dogs are neutered, so they are of no value to someone interested in breeding, but they have immense value to her. greg liggins ktvu fox two news. new tonight. north korea has confirmed reports of a missile test. the missile was detected overnight by neighbors of north korea. this is the country seventh launched this month. north korean state media says the missile is capable of reaching the u. s territory of guam. the biden administration says it plans to respond in the coming days, but did not spe

the comic book writer and author of "thin blue line mc" mike barrett, mike to get into the reddit, butmy pfeiffer novels with motorcycle hoodlum who went to prison and found god. that was it. and instantly my post was removed. i haven't been able to post anything there since. when we put up "thin blue line mc book nobody saw it and by the standards of racism and hate speech. >> lawrence: what is hate speech about your book? >> nothing. 20 years ago a story like this would have raised an eyebrow, but into dies hyper politicized environment, many people find support for the police objectionable. it is a state crime story with drama. and i happen to cast the police as heroes and one of the reasons i did this was because i know a number of police. the cops i know our civic minded individuals who joined the force to be a positive force in the community. >> lawrence: mike i'm curious, we had a shot though my cops shot and killed in new york and three cups in houston, texas, shot at and another one killed in harris county but the highest numbers ever of shootings against cops. is there a chan

platform and thousands of people in our audio rooms, it is self organized, similar to a community like redditou have a moderator and other people just participating. emily: we are seeing a lot of tech workers and crypto enthusiasts move to miami, where you are doing a lot of work. i recently spoke to the mayor of miami, who had this to say about the influx of new talent. >> our economy was driven oftentimes by the hospitality sector and the construction sector, two of which are oftentimes not high-paying jobs. we want to differentiate our economy and provide higher-paying jobs and different opportunities for residents. emily: you have been talking about how to prepare miami residents for the future. talk to us about how the work of career karma would intersect with what miami needs. ruben: i want to correct one thing on the screen, saying $40 billion, but it is $40 million we were able to raise. we have been talking to the mayor since 2018. i think it is going to take a collaboration of working with the government, the schools, and the companies to work with local residents. there are all the

still think there's a very clear indication that investors want to deploy and they see good quality redditnvesting opportunities. it is just the way you access it and what access -- what asset class you make preferred, dependent on your view. guy: do you think your view is going to evolve? the language from the fed has been fairly aggressive, but nevertheless, it looks as if rates are going higher. does that mean you are more likely to focus on, as you work your way through this year, may be on the floating loans market to give you a little more insulation around that story? madelaine: i think it will come back to really where you think you are best positioned to head off the risks that you are concerned about. we look at hundreds of companies across many sectors, and it is from there rather than trying to take a read of central bank policy, which we don't think anyone can do well on a consistent basis, rather hearing from our companies with the issues are around supply chain management, around inflation, and building our portfolios up from that as real credit selection being the basis of

a former reddit software engineer josh wordle, a website-only wordplay game is available to play oncebut there is no app for it just yet. the reason for the confusion is other similarly named games. downloads of a similarly named game app rose 850% from the week before. apple removed several other similar games due to the confusion. again, the wordle loved by fallon et al can only be played online. coming up, a new fund was created to focus on finding the next big thing in energy and mobility. that is next. this is bloomberg. ♪ emily: jack dorsey has revealed that a bitcoin legal defense fund has been set up to protect open source developers from litigation. minute open letter, dorsey writes, "the bitcoin community is currently the subject of multi-front litigation." he goes on to explain that the nonprofit entity aims to minimize legal headaches that discourage developers from actively developing bitcoin and related projects. the fund recently became trending topic on twitter with many developers voicing their support for the initiative. well, more money for mobility. the westly grou

ed: it was founded by josh wordle, a developer from reddit.would play with his partner, just the two of them. he has a programming background and he had a previous attempt, a few years back, making it public. it did not go well. he had been talking to the media a lot. he is the star himself. josh wordle, the founder, talking about the beauty of it and its limitations. it is not in your face. it is not like the other apps where i am hit five times a day. is once a day and it is that restriction he says it is driving people toward it. is infuriating. you want to go again straightaway. you go away until the next morning. emily: they are off the hook. i have been entertained all day long. as you say, as soon as you are finished with it, you want the next one or the ones that came before and they are gone. the other thing that is happening is people are mistaking worlde in the app store for other similarly named games and apple has a big, confusing problem on its hand. ed: that is kudos to the app and how good the thing is. it rose up the charts on

investors went all in on a few failing stocks, including gamestop and amc following the advice from the redditead wall street bets. it upended many hedge fund plans and put robinhood in the spotlight and at the center of sec scrutiny. i want to talk about all of this and more with david chase, a former sec prosecutor. before we dive in, i'm looking at robinhood now, the shares are plunging after hours. they missed on revenue. they missed on monthly active users and there are certainly questions surrounding some of the regulatory issues here. what do you make of robinhood one year later after the mania that was gamestop? david: i would just say, how things have changed in the last amount of time since it filed and went public, with all of the anticipation about its revenues and profitability. clearly, the market has punished robinhood's stock, given its performance to date. and certainly, apparently, continues even after the announcement on earnings. it, it, it creates a situation where a company in the financial services industry can deal with regulatory problems and certainly it makes it easi

emily: i was checking on the reddit wall street bets thread. you rate this activity compared to what we saw last year this time? >> there is definitely a lot last activity on wall street bets. a lot of retail investors or maybe not going to that for them anymore for perhaps advice on what to buy. there are still a lot of discord groups and other online communities where we are seeing these retail investors congregate and share strategies. i do not anticipate that all of the retail investors who came in during the pandemic and started making money and investing are just going to all of a sudden pullout. i think perhaps a lot of people pivoting strategies. maybe they are not looking at wall street bets but they will be in an online discord group that talks about how to read an earnings report were talks about the long-term place people can share that kind of information together. emily: thank you for the update. we will see how this wave is written this week. coming up, a tech war with the united states, realigning its companies -- it's countries

subpoenas to social media companies to detain information from social media, google, twitter, facebook, reddit the notes, two key questions for the select committee are how to spread the spread of misinformation and violent extremism contributed to the violent attack on our democracy and what steps, if any, social media companies took to prevent their platforms from breeding breeding grounds for these people. it's disappointing, that months after this engagement we still do not have the documents and information necessary to answer those basic questions. joining us now, democratic congressman, -- she is a member of the house judiciary committee and -- thank you very much for joining us tonight. the january six committee has given up on trying to cooperatively try to get this information from the social media companies, they have now had to turn to subpoenas. how long do you expect it would take for these companies to be able to deliver what the subpoenas won? >> well i hope they will deliver immediately. of course we know better from those who have -- thanks for having me tonight, lawrence. it

twitter, reddit, alphabet and meta. the house select committee investigating the january 6 attack is now demanding the companies turnover internal records as it investigates misinformation online. the committee initially requested volunteer access but after what it calls an inadequate response, it sent to the subpoenas. >>> the congresswoman will be discussing ways to improve traffic congestion at the highway 101-92 interchange. in a statement the congresswoman said congestion and accidents are regular occurrences in the recent bipartisan infrastructure law will offer funding opportunities to help solve the issue. >>> we have just learned california set to receive nearly $850 million as part of $4.2 billion in federal funding to improve more than 1500 bridges in poor condition throughout the state and its part of any program aimed at repairing and replacing bridges nationwide. more than 43,000 bridges in poor conditions across the u.s.. >>> a boy in new jersey has made it his goal to serve every day during the pandemic

we learned on like reddit. it says, you know, give it an identity category, it is racist and sexist. google researchers came forward and said we need to have a bigger conversation about this and we're trying to get people on board about this and then she was fired. so, that is my feeling. look at, you know, how they are playing out. it is not working out that way. >> just one quick follow-up. those communities creating this, do they have anything ethical between them, where science has advanced greatly, but our own set of values in the way things should be done have not caught up. maybe they are or are not having those conversations. >> there a lot of conferences where there are panels about bias and language. that is one issue, particularly with large language models. they kind of trickle down to the public. reading articles about this in the new york times. or the washington post. this is something that they were talking about within the field for a long time. i think that there are a lot of other ethical iss