rohit: it's a function of two things.ne is the fundamentals, and equally important is elliott's press release. expectations were low, they were getting lower. pinterest was trading as if it was going out of business, to be honest. now they jumped over a very low bar. the most important thing here is third quarter revenue outlook. facebook is telling us sequential declines. snap is telling us sequential declines in revenues. and pinterest comes along and says ok, we might grow sequentially. this is not what people expected. on top of that, elliott gives you this press release of pinterest, then being the largest shareholder in pinterest. so i think a lot of bad news was priced in, and here we are, up 20%. emily: you of course have a big leadership change that happened at pinterest. the cofounder and longtime ceo, ou. -- out. how do you see pinterest's challenges different from what is facing facebook and snap? rohit: pinterest has always been a tweener. there is always a debate between, are they are social media company, o

rohit: so, when the ebola outbreak occurred, nothing was ready. or effective. now, eventually the vaccine was developed, it was tested, and it did have a role to play in the initial outbreak, but many hethcare workers, frontline workers and people living in st africa lost their lives, when it turns out that the vaccine could have played an important role in tamping down the outbreak at a very early stage. ian: our current system is very much industry focused, patent protection on everything, return on investment and long development times that have to be paid for. sophie: professor ian frazer is behind one of australia's most famous vaccine success stories. in 1991 he and his colleague discovered the technology behind the hpv vaccine that prevents 90% of cervical cancer. all australian teenagers are now offered the vaccine. ian: okay, you ready? female: yes, i'm ready. ian: eventually, not in my lifetime, but sometime in my children's lifetime, i think we will be able to say that we've eradicated cervical cancer. sophie: the intellectual property

. >>> joining us now, consumer financial protection bureau director rohit chopra.i hope you can hear me at this point, director. >> i can, yes, i can. >> you can, fantastic. now, i want to start off with the statement you recently made, cfpb recently made about digital marketing. can you explain what the significance of this is? is it that if firms, digital marketing firms are targeting messages about financial products, they're responsible if those messages are misleading? >> here's the thing. we have a lot of large tech firms who are increasingly getting into financial services, whether it's payments, whether it's lending and we want to make it clear that they can't simply hide behindan advertiser exemption. those firms are doing a lot more in many cases than advertising they are designing, in some cases, the products. they are offering those services they are trying to, in some ways, take control of the insights into our digital wallets and they should be following the same set of rules that banks and other financial companies are following. >> practically, what

. >> why do you disagree with that, rohit? you have even in the past, i think with us, raised the issue of management credibility and yet you're still a buyer >> management shuffle is going on right now management credibility with regards to visibility and being able to forecast what the business would look like i think management credibility is on that one particular area i feel one of the things management has been able to do that snap hasn't been able to lay on new areas of monetization, all those things, instagram, almost an existential threat, people are focused on tiktok right now i feel management has been able to being a more enduring, sustainable business all they need to do is get the right opportunity and now with the restructure we are getting there slowly macro head winds will fail hopefully in the next six months and then we have this nice little inflection in fundamentals, improving profitability and you get a rerating key things going in their favor but only next year there's time left to see if it is playing o

rohit: that is helping.is opening up their user base to people who are extremely price-sensitive. if you aren't willing to buy a bike which is worth $1500 right now, probably you could rent it for a few months for $1800 or $1900 and see how things go and then at the end, if you feel like using it more, you could buy it, or you could continue to pay $80, $90 a month. there is a certain cohort of users who may be willing to try that out. there needs to be a directional logistics network that they have to set up, they need inventory to fulfill such demand. so it is a good experiment and there is good success so fire. but it is an experiment. it is still early days. those experiments, they are doing a lot of those. but the broader cargo ship that barry mccarthy talks about in the letter is very slow to turnaround, and we are not seeing from the outside, the effort that they are putting in. emily: alright,, lots to continue to follow, row kearney, -- row hit kulkarni, mkm partners managing director, thanks for st