maybe roblox, maybe unity at a certain place, just so you know, roblox was part of my aarp trade in honorke it but i guess it comes at the right valuation. another one, the small one might be skillz. we're getting to a phase where all of these names are going to get overturned a little bit. people are going to start gaming them out i don't think we're going to see a rush of more m&a right after these two deals over the last two weeks. >> i got it. i got to give guy a chance to respond to that. >> well, i mean, hopefully he's about a decade too early in his arbitrary given my current age who knows, maybe he's spot on. i don't know what i will say, jeff mills has talked about this for a while. roblox could be a name that we're not talking about as a publicly traded company anymore, somebody has acquired them coinbase has gotten eviscerated, especially today we're at levels of support and mark mahaney has mentioned numerous times, coinbase he believes will be the bank of the metaverse. maybe there's a play there in terms of all of this >> got to figure it out. somehow this is all going to co

lauren: i am surprised you like roblox, i guess this is the metaphors player and one of the first onesthin 2021 and i think it will continue in 2022 as we -- our digital and real-life roblox is an interesting pic for us as it's down i think it's a great opportunity to get it at a lower valuation we don't want to get in at the height what roblox does is allow children and teens alike allow an opportunity to build and integrate their digital and real lives and this allows for recurring revenues stream for the company. i think it's a great pick their. lauren: what other names do you like? >> would like the company called polestar polestar goes by the ticker ggp i and came to market with course guggenheim in their private equity firm in los angeles. this is a. easy play to provide electric vehicles but to scale we see names like rivian and lucid and stoked and beyond in the past year or two to an unprecedented degree but have not supplied the demand that were seeking polestar delivered 29000 vehicles in 2021 and aim to deliver 102,022 as well and they are produced by lauren: it is interest

. >> speaking of berkshire b is another one of your three picks along with roblox, which is a new buyl which we highlighted on this program on new year's eve the interesting thing, your sector pick is biotech tell us why biotech of all of the sectors that are out there caught your eye the most this year >> it was, i think, the worst of all of the growth stock sectors in existence last year these stocks really never -- they never got off the mat they never got if the game there are some reasons behind that and a lot of attention was focused on vaccines and rightly so and there were high-profile biotech drug busts where trials didn't go as expected. so i think that combination of factors just kept these names out of the limelight, but if you think about an environment of decent economic growth and people looking for opportunities where there is secular growth that's not reliant on the overall economy that's where those stocks are in health care and specifically in biotech. so i like the ibb and i think it's best way to play it and 50% of the market cap is in the top ten names. so i thin

, not time to buy and i'm short roblox and it's going lower. so i'm looking at the market and what suffers is a lack of humility and people come on and say the market's bottoming wednesday of next week or if we hold the 200 then we're going higher that's ridiculous, that's not how real people manage money sure you have quants out there that look at it that way, but 90% and people on this show, you can ask a show of hands, that's not what they're looking at, okay what they're looking at is where is the real value and when does it stop going down it will go to roblox and it's losing money for years to come >> okay. >> so i think we are still seeing that decline. until more humility comes into the market, people say i can't pick the bottom and a specific day and hour, and i can't pick the top. >> i understand, and -- i understand, and i should have foreseen that that was going to be your answer when i threw up a soundbite from josh. the fact of the matter is -- >> it's not josh it's reality >> the reality is, though, that technicals do at times ha

is it roblox? mandeep: roblox, unity is the engine used in designing these games.e end of the day, there is a lot of innovation around web 3.0 and 3d software. so a combination of these technologies, and some of these startups, but you can see how people are thinking about metaverse and how they are building it, so they are the ones be disrupting it. some of them will go to the likes of nvidia when it comes to building the background infrastructure, but i think it is a full-fledged ecosystem when he think about metaverse as a whole. emily: all right, bloombergs's mandeep singh, we will continue following your coverage. thank you for joining us. coming up, we look at whether the rise and fall of elizabeth holmes will change silicon valley or not. this is bloomberg. ♪ emily: welcome back to "bloomberg technology." i'm emily chang in some physical. after seven days of deliberation, a jury convicted of elizabeth holmes, founder of theranos, of defrauding investors of hundreds of millions of dollars. will this spur investors to scrutinize companies more carefully? will

obviously on the roblox it's games, but you're starting to see live music concerts, you're starting toities happen on these platforms. it's a little early. lauren: yeah, talk to me about some of the companies that you helped to take public, all birds for instance, casper, how are they doing? are they able to keep up the momentum because it doesn't look like it when you look at their share prices compared to their ipo price. >> yes, they have been caught up in the same downturn that we have seen towards the end of last year that we're seeing as an extension now. i believe that that has to do with the fact that we have inflation and people are anticipating maybe a sharp rise, at least a rise in interest rates and that's i think what you've seen is some sort of a rotation away from some of these tech companies and including casper and all birds and all that towards value. the good news is that they went public. they raised money, if they aren't profitable they're getting to profitability, they are beloved by their customers. it's a marathon, it's not a sprint. lauren: are investors going

roblox is already a metaverse company. 50 million users, most of them young already.ting 3d worlds and sales are going to continue to expand. while mehta wants to get there, roblox is already there. another when i think -- go ahead. emily: put up some unexpected companies. joel: there is one that i think is worth mentioning, which south east asia playoff happening. we have heard about all of those , but both companies would want to watch because they are trying to become super apps. we don't really hear about them here in that same way, but there is this race there. -- has a leg up in gaming while grab is more of a ride hailing giant. both companies are going to look to encroach on each other's turf an places that neither has gone. they are both publicly traded in the u.s. already. it remains this breakout moment for them as we round the corners of the pandemic. another one i like, this japanese motor company called native. before this, i had not dug into that company, but as the electric vehicle revolution happens, it is something like this that may have this e-axle

done it from desktop to mobile and it might include vr and we're already seeing applications like roblox role in the existing role we make it more immersive as we move forward and we've seen facebook go off and change their names effectively acknowledging that the shift was pretty pai painful. you'd rather acknowledge something is coming and say let's invest toward it and let's be ahead of the game and if we can unlock revenue streams along the way, all the better. >> mark, can we talk about the perhaps sub-themes that you see that are real? i look across things like advancements in 3d design, stuff that unity is doing and things that epic is doing and i look at computer vision both for cars, automotive and in retail stores to be able to identify patterns and all of that takes processing power. i mean, you can call that metaverse, but it's not really that stuff is interesting to me. is it to you >> you know, it certainly is, but as you mentioned a lot of that requires very significant step changes in technology and the capability to go deliver it. i'm sitting here with my device and it's

>> okay. >> so again, just to underscore the fact that you've been buying a little on the dip of roblox and on holdings. i don't want that to get glossed over even though you do say you've been trimming some of your positions i look at stocks like naturally i go to this place, and i go here a lot because it's the area where there's been so much carnage and it's the ark stocks. it's the cathie wood-type names. it's the shopifys, the blocks, the coinbases. 30%, 40% off of the 52-week highs and the spotifys and the twilios, 40 and 50% respectively off the 52-week highs and the palantir, 58% and 54% respectively josh, are we talking about those kinds of names are ones that they could be a pipe dream that they could get back to where they once were because they've come down so fast. are you referring to those types of stocks if not those directly? >> look, i think it's very difficult to make the case that a lot of those stocks were at those prior levels for any reason other than they were going up nothing attracts a crowd like a crowd and people become very confident in their holdings when e

with young people and gamers especially immersing themselves in digital worlds on platforms like robloxasting 50 million daily users across 180 countries who spent hundreds of millions of hours on the platform last year alone. for many brands, the meta verse is big business. you can virtual skateboard to your heart's content in vans world. have a virtual coffee at ralph lauren. try on the hottest new kicks in nike land. paris hilton, who jetsets the globe at the top-paid female deejay in the world, chose to spend her new year's eve in the meta >>appy new year, paris world! >> reporter: playing a virtual set for her fans in paris world. >> yes, i love you guys. >> all the fans are coming and talking, and it's just like -- almost like, felt like real. it's very bizarre but it's really cool. >> where were you actually that night? >> i was actually in the maldives on my honeymoon. >> you just took a little time to deejay in the meta verse? >> yes. >> reporter: back in the real world of new york city, i recent will you caught up with hilton to discuss her latest digital project, a new collec

now we have bad news from china have i held my roblox stock too long >> yes it's such an original terrific meta verse d damion in florida. >> caller: ticker symbol, pay. >> it's payment technology those stocks are under so much pressure it doesn't make money. let me give it more scrutiny and come back to you that is the conclusion of the lightning round. how is demand for oil impacting the price of goods you care about most ♪ ♪ ♪ ♪ ♪ >>> is it so terrible people who work for a living can maim more money. you think the answer is not. that's why i was thrilled, not fearful when i saw in this morning's monthly labor port the average worker got a 4.7% raise year over year especially when ceos make in week than in a year we have an inflation problem it's hard to find thinks that haven't gone up even more than wage, frankly. well exceeding wages in many cases because producers have to raise prices how bad is the inflation situation? let me put it in perspective that i think we can all understand and realize what the country sfasing. take a look at this bottle of motor oil. if you want to keep yo

roblox? >> yes, unity engine is responsible for designing these games.nd all of these software companies. at the end of the day, there is innovation around 3d software. so a combination of these technologies. some of these are startups. you can see how people are thinking about the metaverse and building it. they are the ones who will be disrupting it. some of them will go to the likes of nvidia when it comes to building the background infrastructure. i think it is a full-fledged ecosystem when you think about metaverse as a whole. emily: mandeep singh. we will continue following your coverage. thank you for joining us. live and learn for founders and investors whether the rise and fall of elizabeth holmes will change silicon valley or not. this is bloomberg. ♪ and there you have it. woah. wireless on the most reliable network nationwide. wow. big deal. we get unlimited for just 30 bucks. sweet, but mine has 5g included. relax people. my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keep

when we have talked about the metaverse, we talked about roblox. an early leader in that.ut microsoft's acquiring of activision is an arms race, a metaverse arms race. imagine such a thing. a virtual arms race. ubc software is down 5% on tuesday. it makes software for 3d platforms. to power the future metaverse, they say is a buy, but down on this news. again, the parent company of facebook also down. wall street thinking about what comes next and where we see more action in this space. emily: big question indeed. i want to continue the conversation about what this can mean for the future of gaming. i'm joined by the executive director of the rebellion pack and longtime advocate for women in gaming. you have fought a long time for inclusion in this industry since before -- when you yourself became a target. you don't think the deal is good for the gaming community and workers. why not? >> first of all, i want to apologize for my voice today. i think it has potential to be good. i think we need to see what happens next. you're coming from microsoft, a company with very mixe

during the pandemic when they couldn't play with their friends and a person logged on to fortnite and robloxcompanies that were able to hire more diverse peoplefrom more places and do you think there are important developments and there are potentially beneficial aspects of a metaverse if you want to call it that >> well, i don't want to call it that hey, legend of zelda on the nintendo switch let me live through the first six months of the pandemic obviously a lot of us derived hundreds of hours, thousands of hours of pleasure, and although a few minutes of that, as well and of course, we've hired -- my company's hired and i've hired more than a hundred people from 20 different countries and very diverse from all over the world. that's not the metaverse that's working in a distributive way. >> that's the internet >> and perhaps the internet economy, phil, thanks for your comments we'll talk to you again soon phil libin >> thank you >> i know you want to re-live this past hour well, you can. subscribe, follow our podcast and listen any time, anywhere, te cckas you download podcts chhe has a

people say roblox is a pathway to a metaverse.>> just like i said this is many people are part of the universes but like, one key issue right now, most of those companies you're seeing on the screen, they're all running like centralized corporate their own metaverses where all the data, user apps, is actually owned by one single company that is operating their platform and where all the value that is generated actually doesn't go back to the user and contributor but to those companies. you will not be able to transfer your assets, avatar when you play one or two of those -- they do not give you a true open metaverse. charles: i love that i love what you just said. i think that is so critical, people want to own the avatar. people want to own the things they create and the things that they do. now, i want to get to the land, virtual land. because this is where sandbox is it really, i know you do a lot the of different things, voter rule land sales, 4-- virtual land sales, $4.2 million. tell us about that. >> this is one of the key-

another interesting one, row blocks, it's huge -- row roblox.t last fall, they've now announced -- communities, i love that. it's a combination of real life music festivals and the metaverse. charles: i am so glad you brought that up. i gave up on i heart years ago. my son is going to do an nft, big thing like that, same thing, a concert for fashion if week in new york next week. same concept. app, always appreciate you. -- ann, always appreciate you. you've helped us out a lot, thanks. >> thank you. charles: approaching the last hour of trading before a very long weekend, before baa that -- but before that, let's get with two pros who know what they're doing. i want the try to get some green in your pocket. we'll be right back. ♪ take the pain away. ♪ last night ♪♪ hectic life you'd think retirement would be the last thing on my mind. hey mom, can i go play video games? sure, after homework. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. what's the wifi password again? here...you

parents of kids who play roblox will have a sense of the metaverse where you can buy virtual things andhis morning, it looks like walmart may soon be diving in. several trademarks filed by the retail giant last year revealing potential plans to sell virtual goods including electronics, home decor, toys and furniture, provide a virtual currency and even offer customers the opportunity to buy and sell nfts. walmart telling abc news they're continuously exploring how emerging technologies may shape future shopping experiences. >> we've been doing physical commerce where we go to a physical store to buy a physical item, right, and with the internet and social media that changed into, you know -- that evolved into e-commerce. there are new models evolving, virtual to virtual commerce. you buy a virtual item using virtual currency. >> reporter: iconic fashion label ralph lauren already offering customers digital apparel and virtual experiences like a coffee at its madison avenue location. the ceo telling the national retail federation's annual conference monday it's a way to connect with youn

some of the names that could be in play here, you've got unity up 8.8%, ticker symbol game up 17%, roblox rblx up 11.4 %. another deal at this hour we need to tell you about, cloud software firm citrix systems is down 3.7% on a report that investment bank elliott management along with vista equity partners are close to combining to buy it for $13 billion, in an all-cash offer. that works out to $104 per share , which would come at a discount to friday's close of 105.55 we're at 101.63 right now tesla getting a charge on this monday, higher after credit suisse upgraded the stock to out perform from neutral. the firm says the tech correction this month has created a buying opportunity. well, yet a better opportunity friday because it's 9.5% more expensive today. other ev stocks riding tesla, lordstown motors,horse group, and lucid up 6%. the russian army maybe on the verge of invading ukraine, but is it already striking a war time posture in cyber space? ready to attack the u.s. in a fox business exclusive, we'll take it up with the ceo of cybersecurity giant trellix, who says one sector in

kinds of stocks have been hit pretty hard and buying the name and she's buying robinhood more, more robloxmore draft kings and it makes me think about when you said in the beginning of the show that some of these mega-cap techs need to come down a little bit before you're comfortable getting in have some of these high growth techs that you're doing it >> this is one of the problems with the lumping in factor 90 times earnings, so why should we confuse that with paypal that's 40 times and literally half and next year it will be 828 and one of the things i've learned together is that the 90 multiple stocks are not the same as the 40 multiple stocks and we all trade them together so that makes them that stock picking doesn't make sense and in this year, it will. >> you know, jim, i think of meta and facebook in the same way because it only trades at 20 times for 30% growth. >> so to me, of the faang. of all of the faang and i know we're talking about paypal and i'm switching just because it's the same concept amazon is expensive on a p-e basis. i get the sum of the part, right? i know google

the year with 24 lower by more than 10% some of the biggest losers in the etf that would be roku, robloxy, twilio and bloc dragging it down. after a rough 2021, as well as nd20 was the banner year for the fu more tech check after this, so don't go away. >>> tech stocks obviously in the red today. our next guest says stick with the winners from 2021. nvidia and tesla, a chip and charge play with strong upside also bullish on apple and microsoft. joining us, rich. >> rocky: i wonder whether you think the nasdaq and the 200-day are an important chart today >> yeah, i think this is very likely to mark the low here for technology and i say that because past tends to be prologue and to your point in term of these moving averages, i don't choose the way the moving averages do and they have defined this trend in megatechnology for almost six years now save the pandemic collapse in 2020 and the rookie mistake in 2018. it's likely to mark the low of the recent pullback. >> talk to me about this, is it a pair trade of nvidia and tesla together >> no, i think when you think about those two leaders i

away but there are some names that make sense and i'm not looking to play stock market here, but robloxs it will be the bank of the metaverse. does this make sense to you? >> definitely, open c has turned into the killer app for nfts and metaverse real estate is all nfts the more infrastructure you can gain exposure to in the metaverse sector, obviously openc is a private company but they closed earlier this week. >> jeanine yorio, your report was incredibly helpful and knowledgeable, i hope people can read this and check it out a lot of people have a lot of questions. thank you very much. >>> tim, bottom line this for us >> look, as jeanine said, in good times and bad times, the metaverse is a place you're still very early on this trade whether it's a real estate player or a branding play, we've talked nike's role, we've talked about chip companies, nvidia specifically, there's a lot of ways to play it. there's going to be an element of this trade that only works when you have a massive liquidity rush like we do right now. part of the pain we're seeing in broader high risk asset classe

take from our interview just now steve weiss, you covered all your shorts and freeport, the qs and roblox, the smh and you sold the sark, and the short ark fund which obviously had been a big winner as those -- as that fund has gotten hit take me through the way you're thinking about the market. do you agree with jim lebenthal that we have bottomed and we did that yesterday >> you know, actually, part of the reason i took it off is i spoke to jim after the show yesterday and i bought some facebook after the show so i expect some pop. i didn't want to get biggish the shorts worked out extremely well i'm still only 55% invested i'd say at this point and rather than shorts i have a lot of cash because i've shaved a lot of positions. i don't know that we bottomed. i tend to think that we haven't, and the reason i say that is that the market's got to get accustomed to us being in an extended tightening cycle and yes, stocks go up in that cycle, but this is an unusual time and it's not a fed cycle where the fed tightening will have an immediate impact on inflation. at least that's my view becau

boat load of cash and being short the indices which i mentioned friday and some other names like roblox. i don't think we're done yet what's most troubling is now we're seeing economic numbers come in like the pmi that came in a little light today. we're seeing that in europe as well so we're not there you can have the worst of both situations here, which the fed has to control inflation has to raise rates, yet the market, if you look at the bond market, it's telling you the economy's slowing. so you've got brakes going up while the economy's going down that's not a great combination i'd stay on the sidelines and i'd like to see the market consolidate. i'm in no hurry. >> bryn, how much more pain do you think we have to endure before you feel comfortable buying stocks? >> i think that, first of all, the market is doing the fed's bidding. so you know, the irony is the fed is still buying bonds and quantitative easing, but the market has priced in not only four rate hikes, but a really hawkish quantitative tightening. inning what's not priced in and steve talked about it, is that ultimate

airbnb is interesting and roblox and all the things happening in the metaverse economy. neil: susan, when you talk to investors, these have always been great bets for them, the technology stocks. they have gotten you know, a lot of people a lot of money. there is a temptation, when they you know, face some head wints to take the profits and go. we were seeing a lot of reported hedge fund activity just last week where they were selling en masse because they thought presumably this was the moment. what if it wasn't? then they have egg on their face? >> right. so goldman sachs says that hedge funds took down their tech holdings down to a 10-year low. all of sudden underweight some of these megacap tech names that have took us to these record levels, right? you have to think about the consolidated amount of influence in five tech names, right? we're talking about amazons, alphabets, now metas and microsofts of the world. when there is some selling taking place especially in these cluster value plays that spreads out to the wider markets. i think you see that. 27 times price

roblox is the game, robucs is the currency rooney mara landed her role as audrey hepburn we know shere importantly all the work she's done in the humanitarian efforts for unicef and fashion stuff. humanitari we're excited to check that out. >>> next up, the weeknd, overnight the chart-topping artist released his fifth studio album, and with it put on a special performance for amazon music which was live streamed on twitch the weeknd spun his latest tracks from inside a booth, with the voice of actor jim carey helping him narrate. here's a sneak peek at the new song, "how do i make you love me?" ♪ i say, how do i make you love me ♪ ♪ how do i make you fall for me ♪ ♪ how do i make you want to be ♪ ♪ how do i make your love ♪ >> like it. >> it's a hit. >> can't wait to hear that album. that sounds great. i agree. that's out today. >>> finally, adele, if you don't -- the singer's devotion, her fans love her. they went crazy for the new album "30," crushing it after six years of taking a hiatus her newest project is the fastest selling album of 2021. she's set to drop another music video

setbacks to come the president is looking to close out his first year in office with major agenda robloxemocrats have the majorities in the house and senate but the razor thin and some folks believe democrats need to lower the expectation if they don't want a repeat of 2211 year ago president biden armed with decades of congressional experience set out to close big deals on capitol hill to be the closer but he failed to unite his own party democrats passed a $1.9 trillion covid relief package on their own at the start of the year but then they quarreled with each other at one point progressives took an infrastructure bill hostage installed it for build back better the president's massive tax and social spending plan but after two presidential visits to capitol hill in multiple private meetings at the white house biden failed to convince one democrat of soul democrat to pass the bill democrats failed to move on big campaign issues like police reform, gun reform, canceling student debt in their voting rights legislation in limbo as of this hour while republicans are slamming the left were

millions in bullish call options for stocks, including google, salesforce, micron technology and robloxto the new york post, insiders' blood is boiling, people close to nancy pelosi don't like it. what's going on here? >> it's a fabulous story. by the way, nancy pelosi is trading acumen is fantastic. she's now been voted the 2021 wall street trader of the year. this wonderful piece, i don't know, i'm told it's a left wing publication, absolutely hilarious. they traded 50 million in assets, annualized returns of 69% as of october, according to an estimate from -- they have something called the nancy pelosi portfolio tracker. better than warren buffett, george soros or kathy wood. they have a tiktok handle for her, they are calling her the queen of investing. look, i'm not opposed to her getting rich, opposed -- she says it's a free market. every single policy she's ever done is against the free market and wants to attack and tax people who are wealthy and succeed. i'm saying in all seriousness, she has regulatory influence over major decisions for the very companies she's buying and sell

among the players seeing the biggest losses, roblox, led by more than 35%.soft and meta platforms both down around 7% or 8%. the meltdown comes as calls for regulation in this metaverse space grow louder. let's bring in bradley tusk, founder and ceo of tusk ventures great to see you thanks so much for joining us on this topic you have written a huge report on these areas and some of the key questions to focus on. i guess my starting point is, should we regulate social media and crypto first i not trying to be facetious but it's to say if we haven't got to taking that step yet, are we ever going to get to the step of regulating the metaverse >> it's a great question, but in some ways our failure to anticipate and regulate crypto and social media is a good lesson for how to handle the metaverse. typically speaking, our policy is we wait for technology to be introduced, to gain kind of market fit and traction, genie is out of the bottle, and then we say oh, these things don't work let's regulate, and it's hard to do that in retrospect. we know the metaverse is

avatars in roblox, they can wear shirts but that's not all a.he the new generation. we have to be there. there are a lot of parallels between the metaverse and ralph's vision because we are not a fashion company, we are in the dream business. stuart: okay, i got it. lauren: let that sink in for a little bit. we're in the dreams business. luxury aspirations somewhat i want my home and closet to look like in the fake world. how much do you pay for the fake world? stuart: i'm lost. i just have a vision of me wearing those goggles and having a dream about lauren's fashion. you know, that's a very interesting idea. i've got to move oranges lauren are. you realize this, i've just got to move on. i want to show you an astonishing picture. look at, this is looted cargo trains in los angeles. looted. this is why would west style train robberies. we've got a report on that for you. it's amazing. >>> ucla grad student stabbed to death in a random attack in los angeles. her father's blaming politicians for putting criminals back on the streets. we have got

>> no i think is getting the proper credit because these ticketed economy ready to roar and put robloxrgy cost that was self-inflicted in the federal reserve in terms of money printing that can explode this year or next year those are self-inflicted wounds and people sensors not firm leadership for vaccine mandate disaster which kept people out of the workforce it adds up and people don't like what they're seen they're making a tough situation tougher in washington. >> alexandria ocasio-cortez blames corporate america for fueling inflation, this is a quote the real distinction between inflation and price gouging. a lot of these price increases are potentially do just gouging by corporations. do you want to take that on steve forbes? >> were talking about gouging, how about gouging taxpayers on your student debt, will leave that aside and go to her point there is price gouging you made instances of it anytime you have inflation they look for scapegoats i mentioned christians in the roman time they blamed christians in the lamed which is during medieval now they blame price gouging corpo