coming up in the next hour, the end of the silicon valley era, sheryl sandberg is stepping down after 14 years at facebook and now meta as chief operating officer. i spoke to her in an exclusive interview. sheryl: i made a final decision this weekend and let mark know. emily: we will have more on that decision them of why she's leaving now and what it means for meta's future. and if you want to keep working at tesla, forget about working from home. elon musk sending any mail with the subject line, remote work is no longer acceptable. first a quick check of the markets and how meta shares moved on news of sheryl sandberg leaving the company after 14 years. bloomberg's ed ludlow here with more. big day for the markets. ed: fantastic reporting on sheryl sandberg and the role that the selloff in meta shares, even though it was the last 20 minutes of the session, had an impact on the broader markets. s&p and nasdaq down, those declines accelerated as we saw meta shares selloff more rapidly in the last 30 minutes trading. the nasdaq 100 really weighing down that index. another day where yie

coming up what sheryl sandberg's departure means for women leaders intact at large. about that and more, next. this is bloomberg. ♪ sheryl: i didn't come to this decision lightly. it's been 14 years. it's been 14 years. i want to make more room to do more philosophically, with my foundation. i haven't been able to do nearly as much as i've wanted to recently. it's a really important moment for women. i know you and i have spent a lot of time talking about that over the years. it feels like an important moment, when i think more focus their would be important to me personally. emily: i want to come back to sheryl sandberg leaving meda. sheryl sandberg was part of the conversation that i'm sure got you there. she was a supporter of girls who code. what is your reaction to this news? after a long time, sheryl sandberg is leaving facebook. >> i'm excited for her. she was an early supporter of girls who code. we used to have these town halls where her and i would have a conversation with hundreds of our students and she opened up facebook to this movement. i think she's ab

he helped introduce michelle sandberg to -- sheryl sandberg to mark zuckerberg. we'll be discussing where they go from here. he sat on the board of facebook for seven years and has known sandberg for more than 20. my exclusive conversation with donald graham and where meta- goes from here. and inflation keeps raging. no relief in sight according to president biden as the market, tech, and crypto stocks in particular keep whip sign. we will be joined by the author of a new book about whether silicon valley can hold onto its role as the center of power, later in the hour. all of that in a moment first a look at microsoft, giving the market a scare by revising its outlook. microsoft, the michael -- the story of the day. ed: we started thursday with nerves, the stocks down, saying the stronger dollar and look rising interest rate story of course has been a real headwind, revising the outlook around earnings, 400 $60 million on that strong dollar with unfavorable currency conditions. looking at how the stock traded, we had shrugged it off, some saying it was bullish, t

platforms can return to that big growth story we saw in the early days with mark zuckerberg and sheryl sandberg >> yeah. i guess that's the billion dollar question here sandberg is leaving during a time where facebook is shifting into a technical innovation period she is leaving at the time where top-line surprises are harder to combine. you think about facebook or meta as a platform having reached peak penetration and you have the ad lows coming down based on the transition into longer term video and reels. you see pressure on pricing from the transition and also from all of these consumer shift into services and travel versus product and so on. it is tricky to generate the top-line surprises at the same time, you know, shifting to reels and that is becoming larger consumption on the platform this also has significantly lower margins. 25% or lower that means the platform's profitability pattern is changing sandberg is leaving at the top of that. leaving olivan and others to make the change to the metaverse and platforms working closely with each other. this is the task ahead of them >> rocco,

sheryl sandberg is a big deal.he scaled not just facebook but google's business model and pioneered this idea of personalized advertising. it is controversial. i would think sheryl sandberg has probably wanted to leave several times, but it has never been a good time since facebook has weathered so many controversies, and she has often been the face. the metaverse is like an exit ramp for her. she has to come up with a new business model. no one knows what the metaverse is or if facebook can lead that future. i asked her is this because of the metaverse, and do you believe in it? is it too hard? take a listen to what she had to say. >> we have a current business connecting customers to businesses. i think there is a lot of opportunity right now and over the long run. the metaverse is a longer-term business opportunity. it is going to take some of the same form. the metaverse will be a place businesses and consumers connect. i think that format is something we figure out over the next number of years. emily: now it

how does zuckerberg run facebook, and what kind of sheryl sandberg does he need next? is interesting, five and more years ago, people like me would have been debating just how much in control was mark zuckerberg. because sandberg did have so much power and authority over so much of the business. the reality is this was zuckerberg's business and remains his. at the end of the day, people are going to execute what he want to see happen. lisa: there will be all sorts of speculation as to why she is leaving now. she says she wants to work more on philanthropy, she once to commit herself to her new step children, etc. is there a more marked shift in meta that perhaps does not jive with the nuts and bolts approach she took? brian: i think they are clearly trying to move in directions different than anything she worked on. that is not a reason to move on, though. i think there has been enough speculation that i can only say is probably as accurate as anyone else can say in terms of whether she would have moved on had clinton won the election in 2016. maybe there would have bee

that is a big part of what we used to hear from sheryl sandberg. has kind of receded a little bit from the spotlight in recent years. when i spoke to her today, she said she cares a lot about philanthropy and it is something she has not gotten to spend much time on. she is getting married this summer and will be blending her family with her fiance's family, so there are some things in her personal life coming up that are very big, and i have to imagine after 14 years of being on a treadmill at facebook, she is probably looking forward to having a little bit of time to do those things and not necessarily putting out fires all the time for the company. shery: bloomberg's kurt wagner there with the latest on sheryl sandberg's departure. elon musk has given an ultimatum to tesla employees, saying everyone at the company has to return to the office. the tesla ceo sent and email to executive staff with the subject line, remote work is no longer acceptable. he wrote that anyone who wishes to do remote work must be in the office for aim and a mom of 40 hou

sheryl sandberg was absolutely at the forefront of that. again, that kind of is in the past. a lot of that got overlooked once 2016 happened and cambridge analytica. now she will undoubtedly try to put some distance between her and facebook and maybe get back to a leadership role. because silicon valley definitely needs more women. >> that is for sure, it is one of their big issues that they have every day. thank you very much. >>> the man accused of intentionally setting a home depot store on fire was back in court today. numerous charges, including arson. robert handa is live at the santa fe courthouse. sounds like the criminal history created some publication today. >> reporter: the home depot arson case is complicated enough but all those other cases involve so many details, including witnesses. he was stoic in the santa clara county courtroom, staring while sitting with his arms crossed as he appointed public defender. the office had a conflict in defending him, presumably according to the prosecutor because all the other alleged crimes he will have to fight in court. at

>>> sheryl sandberg, the longtime coo of meta, the company formerly known as facebook, announcing thatmpany. she's announcing this in a very long post on facebook. sheryl sandberg writes in this long post on facebook sitting by mark zuckerberg's side for these 14 years has been an honor and privilege of a lifetime. she talks about working with mark over the years calling him a true visionary and a caring leader she talks about how she expected this to be a five-year role, did not expect to stay there for 14 years. and she goes on and on and talks about all the different people she had the privilege of working there. and then she -- and she talks in many ways about what she is so proud of in terms of what the company has accomplished but she says in terms of her future and why she's leaving, i'm not entirely sure what the future will bring, but i know it will include focusing more on my foundation and philanthropic work which is more important to me than ever given how critical this moment is for women she talks about how she's getting married this summer and parenting their expanded fa

it's not easy to replace somebody like that >> on the other hand, sheryl sandberg stepping down isn'te been tough, and sandberg's taken the brunt of that. sandberg would oftening be the facing criticism for policies. no one persevered in the bro culture longer sandberg pioneered things like parking for expectant mothers. which is not something a lot of the guys had thought about until she raised it. sheryl sandberg isn't in charge of the growth product. don't blame her, but her work in ads at google to now, from, through all that, she did figure out how to make the consumer internet pay off for investors, and investors should be sorry to see her go >> her time in the internet bro culture outlasted not only women but a lot of guys. even somebody like a sergei bren who stepped away from day-to-day roles much sooner. there were huge issues with the advertising platform and what she built up there's an axios story that talks about when she stepped in, in 2008, it was $272 million in revenue, grew it over 43,000%. so i think it's hard not to look at this and say she took this company and m

so no one had ever scaled an ad business that big and quickly until donny and sheryl sandberg. to build the business side of the house. he had the product vision, but really didn't have an organizational structure at all. and so when we thought about sheryl, it was somebody who knew how to build a business, an organization knew how to scale. knew how to run an ad business so everything he needed happened to be in somebody nobody had really heard of at this time i knew she could do something like this and i just thought personality wise, they were so different they could work together so well but look, nobody could have expected this, but if you know sheryl, you know there's nothing she can't do >> dan, i also spoke to her last night. been in touch with the people at facebook a couple of things i wanted to say. one, i hear you just informed mark zuckerberg about this decision over the weekend. also, i asked folks there about the bobby kodak related investigation. they said that that is closed and that her departure doesn't have to do with that but it seems to me that facebook met

in part because of the way sheryl sandberg chose to make the announcement. she talked about in 2007, when she first met mark zuckerberg, she thought of the internet as this funny place, which of course is totally crazy considering sheryl sandberg had built google into this advertising monolith. she was already a well-known, influential executive, who had been known for building the adsense business at google, these personalized, data-driven ads. what we think of when we think of internet advertising. sheryl sandberg was the warm out there talking about how every business owner needed to adopt this. we saw her do the same thing at facebook. as she moves forward, this creates complications. her biggest accomplishment, creating this scaffolding of personalized ads, generating billions of dollars, it's much more controversial than it was before. her greatest achievement but also a vulnerability. emily: apple has been adding more privacy-focused features, we saw a more yesterday, this has impacted and hurt meta-and facebook's business model. do you think targeted

sheryl sandberg stepping down as chief operating officer of meta. sandberg joined facebook in 2008 and worked with mark zuckerberg to turn facebook into a power house. m meta's current chief operating officer will take over shares in germany are up 1.6%. we will keep an eye on how things move there. julianna, not seeing huge negative hit to this it is interesting to see the comments from sandberg and zuckerberg zuckerberg saying we can't replace her. they will have a reorganization, but they will not recreate the same role. sandberg said to our colleague st stateside says this is nothing to do with the issues, but wanting to continue her philanthropy work. >> the resignation itself. dan ives made the point that usu usually an executive would give notice she ripped the band-aid off. he has been following the tech sector for decades and said this would not come at a worse time for meta in the brink of transitioning to invest billions in the metaverse. the rebrand and facebook now calling itself meta. this comes at the time that zuckerberg doesn't have

so if you look at where facebook wants to be in five years, sheryl sandberg hasn't had much to say about it so for that reason, i think there are a lot of risks associated with being a meta investor right now, but whether sheryl is there or not i don't think is one of them ina, how do you react to what casey just said and contextually to what he just said and is meta ariskier place now that it is more -- even more completely the purview of the founder and larger shareholder, mark zuckerberg >> i tend to gray with casey i don't think that it's specifically riskier because sheryl's not there, if we were having a lot of years if we were having this conversation, five, ten years ago the answer would have definitely been yes sheryl was like the adult in the room and she'd built the discipline and business in the meta what she added in the moment will exist and will continue and the risks are much more along the lines of antitrust regulation and privacy regulation those are the things in the metaverse. i don't think it's the same as she would have been her departing five or ten years ago would

sheryl sandberg, who'll stay on meta's board, said it was time to write the next chapter of her life.ess correspondent michelle fleury has more. sheryl sandberg, facebook�*s chief operating officer helped transform the company from an upstart social network into a tech giant. shejoined facebook 14 years ago and helped build the company's online the compa ny�*s online advertising the company's online advertising operation into one of the internet�*s most profitable businesses. she also helped expand facebook�*s reach outside of america. but her high—profile role alongside that of co—founder mark zuckerberg also made her among the most recognisable figures tied to facebook was in various scandals including data privacy and misinformation issues. meta's chief growth officer will take over her position when she steps down. she will however continue to serve on meta's board of directors. she wrote to make a face post, to say it hasn't always been easy is an understatement. but it should be hard, the products we may have a huge impact. facebook�*s stock price dropped about 4% shortly after

i've never heard the word come out of sheryl sandberg's mouth t.o.ke ed said, is not a surprise. i think this goes to show you how important facebook nails this metaverse the company is putting all of its chips in vr and ar and whether its legacy businesses survive. a tough moment in the market the stock is down because the market isn't interested in promises of long-term growth it wants results now once sandberg who sat on the ads side of the company how small businesses could use facebook to reach consumers, the line she's given over and over again, saw where the company was going, all of a sudden, well, what am i doing here anymore it just underscores how important for facebook to nail the bet. >> to that point you are saying her significance was that she kept facebook from being an even more, how did you put it, off kilter company at times. who will play that role now? it's difficult to get this transition right >> that's exactly the right question going into the metaverse, creating it, creating another sort of social network with different kinds

meta's second in command of sheryl sandberg steps down after 14 years. this is bloomberg. ♪ yousef: welcome back to the open. we are in the middle of the european trading day. the euro stoxx 600 up about a third of a percent, steamrolling over the negative the through -- feedthrough from asia and the united states, after we got negative data from the ism. there are quite a few pockets of upside, especially in the netherlands, germany, spain, the cac is leading the gains on the continent. i want to look at a particular mover, that is remy control, seeing quite a bit of upside here. they are forecasting solid sales growth, after people mixed more cocktails at home, and they raised prices to offset inflation. earnings rose 40% of the year, intraday we have come off about .9%, we will see what direction it finally lands on in the next hour or two. first quarter sales strong, despite lockdowns in china, one of its biggest markets, betting on a potentially resilient consumer. remy cointreau just above 170 euros a share. let's get out to the head of asset alloc

shery: sheryl sandberg they're speaking exclusively to bloomberg earlier.u just mentioned, she is stepping down after 14 years as coo of meta. throughout 14 years, her profile has grown. she is one of the most public-facing people from meta, apart from mark zuckerberg. what will her legacy be? >> i think this kind of two parts to this. on the one hand, she built this business, right? she joined facebook will -- joined facebook in 2008 when it was a very small company, did not have any ad revenue. now it is one of the most dominant companies in the world and i think she should get a lot of reddit for that. at the same time, when you look at the issues facebook has run into over the past few years, a lot of things its business has simply struggled with are also on her plate. i see a bit of a mixed bag today. there's people who acknowledge what she has done from a business standpoint and there are people who are very critical, of course, of what that legacy is for facebook in particular. it is not super clear. time might have to pass a little bit before we loo

sheryl sandberg leaning out and announcing today she's leaving meta, the facebook and instagram parent company sandberg joined facebook back in 2008 when it was still just a website. she served as the company's chief operating officer, helping the ceo, mark zuckerberg, build it into the global and at times quite controversial tech juggernaut that it is today. ane statement, sheryl sandberg wrote, to say it hasn't always been easy is an understatement, but it should be hard. the products we make have a huge impact, so we have the responsibility to build them in a way that protects privacy and keeps people safe. cnbc's julia boorstin has covered sandberg throughout her 14 years as zuckerberg's top lieu lieutenant what have you learned about the departure? >> i spoke to sheryl sandberg on the phone. she told me the timing of her departure is not due to the slowdown in facebook's advertising growth or the company's new focus on the metaverse, but rather her personal goals to focus on philanthropy, particularly on helping women. she told me, quote, the job has been the honor and privilege o

future of the metaverse, turning it into a business, and what does the company look like without sheryl sandberg as it moves towards this new but uncertain future? >> the facebook near-term is complicated in or mislead by the apple application tracking transparency and whatever follows that that gives iphone users the ability to opt out of having their data shared with facebook and others. facebook has already said that will be a $10 billion hit to revenue this year and it wouldn't shock me if the number got eager than that because i don't think apple is done. secondly, instagram, which has really been some running the growth of the business, is under assault from tiktok and i do think that tiktok is essentially locking instagram into the group of users it has today by siphoning off all the new entrants into social media. that's really bad for the facebook growth long-term. then you get to the metaverse, where i think the current facebook concept of the metaverse is insane. to my mind, virtual reality is a brilliant idea. if you focus narrowly, say focus on video games, for example, the opportun

. >> sheryl sandberg, took facebook now known as meta to a behemoth bringing in millions of sales last year. she will stay on the board but the writing has been on the wall for some time. there is a risk -- in a conversation, she gave her reasons -- >> in 14 years, i want to make more room to do more with the nonprofit with my foundation. i have not been able to do as much i wanted to. it is a really important moment for women. >> when she joined facebook it was just at a fraction of its base. mark zuckerberg, college dropout with very little experience. he grew to a multiplatform company that has more than a billion users in its platform. the replacement is also capable. focuses on the company's growth initiatives. it was interesting to see it was shocking, the investors identified some key risks in the announcement. facebook also saw in transition for being at face model when it relies on users being targeted. they want to sell more hardware and have users spending on services through augmented reality. dani: shares falling there. coming up, jp morgan ceo jamie dimon issues a dire fo

meta ceo sheryl sandberg is leaving the company. confirmed moments a gone on a facebook post, leaving the company after 14 years. facebook shares right now, you can see they dropped off the cliff as soon as the news hit the wires, of course she had come from google where she was a rock star there, and she was lured over by mark zuckerberg, as we said years ago, and she has been a real force in the women in silicon valley voice point there and as we continue to watch this story, pretty significant that she is stepping down. we're waiting on a little bit more information to see if she's going somewhere. i don't believe so. she's leaving after 14 years, and it was sent in both i guess an e-mail, oh, okay i'm sorry. it was a facebook post as we mentioned, and she will be leaving the social media company. we do have facebook shares, meta shares down about 2.5% off the lows, they immediately dropped about 4% trying to climb backup there as it absorbs the news. tesla ceo elon musk throwing down the gauntlet on work-from-home culture, telli

plus last week was a good week for lebron james and a bad week for sheryl sandberg. find out why in an all new edition of brand up, brand down. we'll right back. sha bop sha bo ♪ are the stars out tonight? (sha bop sha bop) ♪ ♪ ♪ alexa, play our favorite song again. ok. ♪ i only have eyes for you ♪ no matter who you are, being yourself can be tough when you have severe asthma. ok. triggers can pop up out of nowhere, causing inflammation that can lead to asthma attacks. but no matter what type of severe asthma you have, tezspire™ can help. tezspire™ is a new add-on treatment for people 12 and over... that proactively reduces inflammation... ...which means you could have fewer attacks, breathe better, and relieve your asthma symptoms. so, you can be you, whoever you are. tezspire™ is not a rescue medication. don't take tezspire™ if you're allergic to it. allergic reactions like rash or an eye allergy can happen. don't stop your asthma treatments unless your doctor tells you to. tell your doctor if you have a parasitic infection or your asthma worsens. sore throat, join

. >> plus sheryl sandberg is out at facebook current meta platforms. why jim thinks it marks a moment you'll want to pick up some shares >>> and i want to talk hedge funds. tiger global down another 14% in the last month let's start with the markets and the economic warning signs at least from the likes of jamie diamond. we've talked a bit about this at the end of our show yesterday, jim, leslie picker was covering it, youcovered it on "mad money" last night as well. now we have moynihan coming out and saying, you know, not excite as bad a weather as you might think, mr. diamond. >> not a lot of people talked about what he said when things were good but the stop jumped from 123 to 130. all he can talk about is this hurricane. he's picked the one word that has scared everyone. i was at a dinner last night and guests came away so i talked to every person. every person at the restaurant in my part of the room said it could be a hurricane i said i don't know. last week it was sunny this literally was one of the most crazy mixed messages i've ever seen. it'

in fact, we just got something from sheryl sandberg let's get over to steve. what are you learning? >> shep, yeah, these responses are rolling in sheryl sandberg, the outgoing coo of meat that posting to her facebook page, the supreme court's ruling jeopardizes the health and lives of millions of women and girls across the country. threatens to undo progress women have made in the workplace it will make it hard forewomen to achieve their dreams and it will disproportionately impact women with the fewest resources. that's coo of meta, sheryl sandberg. >> and more requests into other tech companies, apple, microsoft, and so forth. >> steve kovac we will turn back as we get more statements in. a half hour to republican leaders, about an hour and seven minutes or so to president biden, who we're told will speak this afternoon if you are watching the markets, the rally continues. things have been fairly stable today. the dow up more than 2%. still there. 625, near session highs. the nasdaq up exactly 2%, s&p 500 up 2.1%. good job numbers yesterday some suggestions of easing of inflation

. >>> sheryl sandberg stepping down as coo for meta. she joined in 2008 as the number two to mark zuckerburg and turned it into one of the most powerful companies in the tech industry and sheryl sandberg has been the public face over challenges including privacy and the spread of misinformation. she said the move will allow her to focus on her other work. >>> the party has officially started in london. celebrating the queen's platinum jubilee and 70 years on the thrown. >> the queen stepped out on the balcony to observe the military fly by and the aircraft formed a 70, which is really cool to see. the queen was joined by prince william, kate and they three children. >> she has dedicated her life to the country and we are so grateful and proud of her. >> prince harry and meghan markle are in london but they did not join the queen on the balcony. >> looks like a nice day in london. usually shrouded in clouds but e sun is shining, what about here across the pond in the bay area. >> looking at the fog over san francisco and it is cooling st

and some people did not expect to see sheryl sandberg be part of it.u surprised how long she stayed, or do you have any more insights as to why she left, and now? arianna: i am very, very proud of her for taking that step. emily, you and i have talked a lot about women, and so often i talk to friends in big corporate jobs who stopped really feeling that that is what they want to be doing. but so many women -- and men, but especially women, become so identified with their jobs. and we know from everything sheryl has done beyond facebook, with her work with option b, helping people who have experienced loss to rebuild their lives, that this is an amazing new chapter for her. and i profoundly believe that life comes in chapters. i have had many chapters myself. and i remember when i was debating launching thrive, i called sheryl and she gave me the advice to take a deep breath, close my eyes, and just jump. these changes, these jumps, require courage. it is always easier to stay where you are, especially one staying where you are is a huge job. emily: wel

sheryl sandberg, the long time adult in the room at facebook.for 14 years, meta, the chief operating officer announcing she's stepping away after 14 years with the company. what prompted the move and what the significance here? >> i mean, sandberg at one point did say that being at facebook now meta platforms would be a five-year thing for her. maybe a five-year gig. so you have mark zuckerberg very much the public face, the founder and chief executive there. but sheryl sandberg is the driving force behind the adult in the room type comments. but she is the driving force behind turning that company into an advertising and revenue-generating behemoth. at first it was her role at steadying mark zuckerberg's hands but she did become one of the most powerful business leaders in the world and in fact a billionaire because of her efforts over there. now some industry watchers feel that it was in the works for a while. sandberg's responsibilities were being transferred to other top company lieutenants, say sources familiar and now that facebook has kin

and caitlyn went through what's happened with sheryl sandberg, what happened at facebook. said we thought at first it was for sharing pictures of our kids and our grandparents and family members, only later did we find out, actually, that in many ways, we all, on facebook, would be helping an organization contribute to the undermining of american democracy. and then she goes on and talks about corporations in general. and really tells people coming up, focus on your kids. focus on the things that matter the most. corporations, they don't love you, they don't give back to you, but your children will. >> right. certainly hard to disagree with that sentiment. certainly the tech industry right now really hurting. and facebook, of course, is sort of a unique position because of the role it played, inadvertently or not, in a series of elections, a site of misinformation and disinformation in 2020, on democracy, on vaccines, on covid. it's really called into question the sort of responsibility what is a social media network and platform has in today's society. when everyone looks

sheryl sandberg announced she is leaving the company.s she is not sure what the futureolds for her and would leave later this year and retain her seat on the board. we turn next to southern california, where new restrictions on these of water came into force today, affecting more than 6 million people. california is in the grip of a sere drought for the third year in a rope, and reservoirs are at record lows. we have this report from california's central valley. reporter: this may look like a massive body of water, but the so-called mega drought is in the 23rd year in this reservoir is only 30% full. it is the largest in the whole of the united states, 25 million people across three states rely on it for the water, but it is now it's at its lowest level since 1930's. it has dropped 150 feet in the past 20 years. those who work on the lake has been documenting the decline. now it is a long walk to the restaurant that used to sit on the edge of the water. >> this will give us information about how water is changing and rivers. reporter: na

the lawyers investigating facebook chief operating officer sheryl sandberg use of corporate resources are examining behavior going back several years said people familiar with the matter. focusing on the extent to which staffers worked on her personal projects. the review, which has been going since laugh fall, included an examination of the work facebook employees did to support her foundation, that is a lean in, as well as the writing and promotion of her second book. according to the paper, sandberg announced last week she was resigning from her day-to-day role with the social media giant after 14 years. a meta, that is what they call themselves now, a spokesperson declined to comment to the "wall street journal" about this. what is going on there, andrew? >> i think what is going on here is the knives are out. clearly internally and there are people there who are not going to let her leave and leave quietly. in terms of the news specifically related to this investigation from the reporting that i've done, it all relates to the book that she's worked on. various personal projects w

i'm curious, as more trickles out about sheryl sandberg's departure, if you have a sense of whether this is really about the transformation of the company to focus on the metaverse and this ten year plan that hark zuckerberg is focusing on >> i actually happen to believe it is and i do as a side note think that this notion of burnout and also the issue around the investigations is both overblown and unfair. if i had gone to zero in revenue to over 100 billion, i'd be tired too. so we need on giveto give her se grace on that point. but i think this is an infliction point for facebook. it is maybe even bigger, the risk for the company because they have to figure out how do it and a more competitive environment with tiktok, with apple's privacy changes. so they have to make a big transition >> and that is a good point. giving up all the gains so far this week, facebook is down about 4%, apple trading down as well this morning 4.25% as weakened growth scares off investors. and the worldwide developer's conference kicks off monday and rumors from new software to advertising changes to ditchin

now, i wanted to ask you, when i first met your team, i was grateful to be working with sheryl sandbergsiness that's my passion. she was helping me create sites, and also companies owned by minorities this was incredibly important role, not just for obviously for facebook, but for the country. i thought again much bigger than the advertising job that she's often pegged with, can she be replaced given this was something i felt was heart and soul facebook? >> yeah, i mean, it is the end of an era for the company. sheryl is an amazing person. it's hard to give her enough credit for what she's done to build this company she didn't just build and architect the advertising business like you just said, but she really has created the management culture at the company, she trained me to be a manager and leader as well as most of the rest of our management team. she's amazing. and i'm glad that she's going to remain on our board so i can continue to tap her for advice and i'm sure she'll stay a close friend, but there's no doubt it's going to be a different world running this company without her.

sheryl sandberg has been mark zuckerberg's number two since almost the beginning of facebook. leaving the company has should still be involved in what is i'll pick this one up. i earn 3% cash back on dining including takeout with chase freedom unlimited. so, it's not a problem at all. you guys aren't gonna give me the fake bill fight? c'mon, kev. you're earning 3% cash back. humor me. where is my wallet? i am paying. where is my wallet? i thought i gave it to you. oooohhh? oh, that's not it either. no. no. stop, i insist. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. ext4 locations across our state. the offices are opening at seven in the morning all weekdays except wednesday, and many bay area dmvs, including conquer daly city, fremont, redwood city in san francisco. the extended hours will last until september. they're meant to help more californians get there. real i d starting in may next year, you'll need a real id or a valid passport to board any flight. the chief operating officer of meta, facebook'

you pointed out, you have sheryl sandberg announcing her department from facebook yesterday.e clark from amazon. in amazon's case, i am not ready to call it a brain drain. it is something we are monitoring. the investors of who is buying amazon today is buying an amazing cloud computing business, a very strong and fast growing advertising business, and to be honest, a mature, retail e-commerce effort. they be in this case, dave clark's departure will give the opportunity to pick his person to run what is now a mature and slow-growing business for amazon. romaine: you mentioned those different units. i think i know what the answer to my next question is going to be. do you give any credence to the speculation out there and the hope for a certain cohort of investors that maybe this company needs to be split apart? may be splitting off these units and create more value, to put some space between that retail division and more profitable cloud computing divisions? tom: when i think about a sum of parts analysis for amazon, which is what you are talking about, are there cloud compu

shares of facebook parent metta fell 4% after the longtime number two sheryl sandberg said she wouldve the social media company after 14 years. sandburg made the announcement on facebook, saying she was not sure what the future holds for her, but that she plans to focus on philanthropic work. she will, however emma remain on the company board. chief growth officer cobb vieira oliver -- officer javier oliver will replace her. the u.s. and taiwan launching new trade talks, u.s. officials say they will move quickly to develop a roadmap for bilateral rural agreement, with a chinese -- taiwanese delegation se -- allegation set to visit washington. joe biden is making an effort to counter chinese influence in the indo pacific region. the framework will not involve tariff cuts or market access but will aim to improve cooperation on a range of issues. finally, delta airlines has upgraded its outlook for the second quarter of the year, saying revenue will return to pre-pandemic levels. global supply disruptions and the hike in energy prices have made flights more expensive, but the companies

. >>> coming up, stepping down after 14 years at facebook, the reason sheryl sandberg is leaving andhe silicon valley giant. >>> there is a lifeguard shortage in the bay area. the impact it could have on your summer swim plans. >>> take a look. it is a mountain lion inside a classroom and a scary scene at a high school on the peninsula and how wildlife officials eventually got the cat out. >>> the news starts right now. good evening and thank you for being us -- with us. >>> after 14 years as facebook's chief operating officer, she announced she is leaving meda, the parent company of facebook. as one of the most high profile women in silicon valley she helped build facebook into a juggernaut. it is the top of the tech world and we are joined now for more. this is really kind of a complicated legacy for her, certainly, because she is a leader when it comes to women there. >> reporter: yes. it is complicated. prior to the 2016 election, there were a lot of people who believed she would leave facebook to run for office. but now, many of those same

sheryl sandberg who helped build facebook is stepping down. for the past 14 years, which is an eternity to silicon valley, sandberg has been the second in command under mark zuckerberg. she's currently the coo. sandberg will leave that up to the parent company of facebook and instagram this fall. she will continue to serve, though, on meta-'s board of directors and says, she's not sure what the future will bring, but wants to focus on her foundation and philanthropy. cheryl samburg, writing in a facebook post today, when i took this job in 2008, i hoped i would be in this world for five years. 14 years later, it's time for me to write the next chapter of my life. >>> we've never seen this before. a mountain lion in english class. the big cat walked right into a classroom at a high school that was certainly no ordinary day on campus. tonight, that 6-month-old pup is at the oakland zoo. new photos of the little guy. the zoo focused a health assessment and say, they are underway. otherwise, healthy. he's a also most likely an orphan and too young

mean you wouldn't be able to -- >> reporter: it's the business model of all major platforms, sheryl sandbergneered collecting consumer data as a way of targeting advertising, first at facebook, now at google tiktok now faces deletion for allegedly sharing that sort of data abroad. jake ward, nbc news, san francisco. >>> till to come, the cheez-it/taco bell collaboration you didn't know you needed >>> and we have new details on travis barker's sudden hospitalization. back category to gas. the road to college can be emotional. but also... rewarding. [ding] with the bank of america customized cash rewards card, you just can't stop getting rewarded. a jelly bean that's good for you? try nature's bounty jelly bean vitamins. good-for-you nutrients in a tastier-for-you form. more sweet dreams. more flavorful immune support. get more with nature's bounty jelly beans. pre-rinsing your dishes? you could be using the wrong detergent. and wasting up to 20 gallons of water. skip the rinse with finish quantum. its activelift technology provides an unbeatable clean on 24 hour dried-on stains. skip the rins

sheryl sandberg is stepping down as chief operating officer of facebook's parent company, meta. the company confirmed her departure today. she says she will leave in the fall and plans to focus on her philanthropic work. samberg started at facebook back in 2008. facebook grew from 500 employees to nearly 78000 and from 100 million to 3 billion monthly active users. pride month is now officially underway on this first day of june and tonight, san francisco's famous pink triangle was celebrated atop twin peaks. j.r. stone explains how the message of the lit up triangle is especially important this year. >> 3, 2, 1. [cheering] j.r.: san francisco's pink triangle is now lit up on twin peaks, marking the start of pride month. >> it is a tragic symbol as opposed to the rainbow flag which was bone out of hope and love and optimism. the pink triangle was forged through hatred and in the concentration camps. j.r.: patrick carney says the pink triangle is now a symbol of resilience and how far the lgbtq plus community has come, as gay men were forced to wear pink triangles in nazi germany

sheryl sandberg is stepping down as chief operating officer of meta, the parent company of the social media giant. she will stay on the board of directors. meta's longtime chief growth officer will replace her at coo. >>> more than a half million people who attended corinthian colleges will have student debt wiped away by the biden administration. the for-profit school filed for bankruptcy and closed in 2015. it has been accused of illegal recruiting tactics and other predatory behavior. the action, which the education department says is the largest student loan forgiveness ever eliminates $5.8 billion in loans. >>> elvis has left the church. a licensing company that controls the name and likeness of elvis presleyedhalstop using. authentic brands groups says it wants to partner with the chapels and for.'s you c money earto cboneywatch.com.i'm matt pieper. > clar valle water i taking extk down on water wasters. the district is the first in the state to fine people who don't conserve. valley water set up a hotline where people can report others who may have a broken sprinkler or water e

turned south 2016 at facebook and many describe the company where falsehood thrived, it was often sheryl sandberg who is asked to defend the company to its critics. >> a lot of times that is the case. that is the woman that comes to the rescue of an organization at times when ethics and values are question. and i don't know how long she wanted to continue that. >> is she leaving now to salvage her reputation? issue leaving because there are cracks in the relationship with mark zuckerberg who seems very focused on this meta-verse type of world? >> reporter: maybe both. her reputation took a big hit, no doubt about it. i don't think it will be what it was say in 2015 when there was talk of presidency back then. now, i think she needs to put some distance between her and facebook and, let's be honest, she and mark zuckerberg. she is an author and a successful philanthropist and a leader of women in business. all of those things are needed here in silicon valley and beyond. >> any word about whether she will lay low for a bit before she comes back? she does have her lean an organization which is take

sheryl sandberg is stepping down as chief operating officer of facebook's parent company, meta.ny confirmed her departure today. she says she will leave in the fall and plans to focus on her philanthropic work. samberg started at facebook back in 2008. facebook grew from 500 employees to nearly 78000 and from 100 million to 3 billion monthly active users. pride month is now officially underway on this first day of june and tonight, san francisco's famous pink triangle was celebrated atop twin peaks. j.r. stone explains how the message of the lit up triangle is especially important this year. >> 3, 2, 1. [cheering] j.r.: san francisco's pink triangle is now lit up on twin peaks, marking the start of pride month. >> it is a tragic symbol as opposed to the rainbow flag which was bone out of hope and love and optimism. the pink triangle was forged through hatred and in the concentration camps. j.r.: patrick carney says the pink triangle is now a symbol of resilience and how far the lgbtq plus community has come, as gay men were forced to wear pink triangles in nazi germany. >> we ha

sheryl sandberg says she's departing from parent company meta in the fall.re but will remain on the firm's board. the harvard grad who's worth an estimated $1.6 billion will be replaced by meta's longtime chief growth officer. >>> the education department is canceling nearly $6 billion in student loans for those who went to corinthian colleges. it affects some 560,000 borrowers. previously one of the largest for-profit education companies, the schools have been accused of predatory and unlawful practices and have faced numerous lawsuits. corinthian filed for bankruptcy and closed in 2015. >>> and father's day is 2.5 weeks away. if you plan to buy a gift for dad, you are not alone. americans are expected to spend $20 billion this year. the national retail federation says a special outing like brunch tops the list followed by clothing and gift cards. >>> that is your cbs "money watch" report for this thursday. i'm matt pieper, cbs news, new york. >>> well, up next, it's only rock and roll. mick jagger and the rolling stones mark a special anniversary ads they

investigation finds outgoing meda ceo sheryl sandberg used facebook resources for personal projects over many years. the investigation is focusing on the extent to which staffers worked on these projects include sandberg's foundation lean in as well as the riding and promotion of her second book investigation has reportedly been underway since at least last fall. a number of facebook employees have been interviewed. sandberg announced last week that she was resigning from her day to day role after 14 years. a somber announcement from singer justin bieber, this serious virus that has forced him to postpone several concerts. and a very of weather evolved and talking about the heat for today. still another hot day in the forecast for tomorrow inland, but i promised them cooling headed our way and we'll have more than forecast coming up community coming together after 2 14 year olds die in a tragic when big tobacco's products were found out to be killers, they promised smokers safety. they called it a filter. but this filter wasn't safe or useful, just small and made of microplastics that ha

. >> the number 2 executive at facebook owner meta sheryl sandberg is stepping down.g has not given a specific reason for leaving the company. she's served as chief operating officer at the social media giant for 14 years. in a facebook post, mark zuckerberg's thanks and bergen added that he does not intend to replace her. >> many couples postpone their honeymoon because of the pandemic. and now couples on embracing a bigger and better way to honeymoon. according to an expedia survey, 97% of honeymoon plans were affected by covid that resulted in new trends on the types of trips to couples will take more than half of those surveyed said that they plan to spend more on their honeymoons. 80 1% said they were planning several trips instead of just one half of them said that they wanted to do over the honeymoon because they were not happy about how their first trip turned out and when it comes to honeymoon destinations, the uk takes the top spot followed by 2 by harrison, florida. kind of surprising new case. number fun place to interesting. all right. >> that wraps up kr

the parent company of facebook, chief operating officer sheryl sandberg announced she is stepping downhis fall. sandberg is leaving the social media company after being there for 14 years. the 52-year-old helped build facebook into a global tech giant and is one of silicon valley's most prominent executives. sandberg is a major political donor to democrats and has made a name for herself as a woman's advocate. in her facebook post, sandberg says, quote, i am not entirely sure what the future will bring. have i learned no one ever is. but i know it will include focusing more on my foundation and philanthropic work given how critical this moment is for women. javier ollivan will become meta's next ceo. >>> all right. so another big event in addition to pride happening, and that is we are hours away from game one of the nba finals going against the boston celtics. thanks to this young man who lent me his basketball. >> a live look now at chase center where the final preparations are under way as the dubs hold home court advantage in the best of seven series. >> executive's vern glenn pick