sarah frier is breaking this news, we are joined by phone.e been working on behind the scenes for some time. >> this is true. they have been testing it with some select celebrities and influencers. they have agreed to keep things under wraps. we are able to confirm a couple of sources this morning. they are hoping to release this app this summer. so, i'm sure you've seen a lot of social media competitors for twitter. we have mastodon. we have blue sky, posters. the list goes on and on. but this is the one that's coming me giant. meda has instagram networks that we will be able to tap into. verifications have rolled over from instagram. these details are still early, things could change, but they are also talking about integrating with mastodon which is one of the big open source efforts to compete with twitter. >> i was going to ask wealth is out there to compete with twitter, and i'm not sure if i am gauging it correctly, but there is a massive appetite for an alternative. is that all right? >> i think that is true. the chaos of twitters tak

sarah frier is here for more details. last two days and we have heard from our sources that in this limbo period between zuckerberg announcing the cuts were coming and these final emails going out at 5 a.m. pacific time this morning, a lot has been on pause. can you talk about what the impact has been on meda's business all in the name on --of efficiency? sarah: employees get the sense that this wasn't the end. wall street loved it and when zuckerberg started out talking about the performance this year, he named efficiency end shares popped. although this round of cuts was announced in march, employees have felt in this terrible state of limbo for that whole time. from what we hear from our sources, now much is getting done. people don't know the priorities of the company and there isn't even a product roadmap that has been established. the cuts happened a month ago and they are still trying to clear the dust from those rounds. people don't know who they can collaborate with. it has frankly been the opposite of efficient.

jon: sarah frier is the ceo of next-door.k. i will ask about the supply chain. this is where. ♪ ♪ good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ ♪ (upbeat music) ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. matt: i am matt miller with jon erlichman. people are still buying twinkies, dingdong, and the honey bun. hostess brand is trading higher today, actually just now moving lower. it had been higher this morning. it beat earnings estimates. net revenue was higher than anticipated and so was the gross margin. joining us to talk

next, sarah frier next-door holdings president and ceo joins at 1:30 p.m. this is bloomberg.the u.s. might not always be a sure thing. the u.s. is inspecting chinese and hong kong auditors of u.s. listed firms to see if they can stay publicly listed. a new report by the public company accounting oversight board shows there is a long way to go. joining us is erica williams, chair of the pcaob leading the investigation. what did you find in the report in terms of auditors of chinese companies listed in the u.s.? erica: thank you. if we think about how we got here, the pco be -- pcaob is 20 years old and we have been able to investigate 50 jurisdictions around the world but we had not been able to inspect or investigated china until congress in 2020 past the holding for companies in cannibal act. which gave leverage to inspect and investigate in china and hong kong. today we released reports that show the result -- the results of our inspections from last year. we did uncover a number of deficiencies. it is an opportunity for us to hold firms accountable to fix problems. guy: go