silicon valley control 40% of the wealth in silicon valley. so those of us who don't have high tech salaries and tech stock options are really left way, way behind. and we see that in the price of homes and who can afford them, etc. but just to see how much wealth is concentrated into such a small number of people is really eye opening. and you show the pictures. i mean, google's down here, linkedin, ai, nvidia broadcom. they're all down based in silicon valley. you spoke to the ceo of joint venture silicon valley about the results. what were his thoughts on the report saying that because of the income inequality, we will continue likely to see high housing prices because after all, there will be that small set of people who can afford to pay the million dollar prices. and it's interesting, we just had some numbers come out even today, about february jobs compared to last year. we saw a big decline in government jobs, for obvious reasons, but an actual decline from one year to the next in tech jobs, excuse me, any increase in tech jobs? so eve

it's called the silicon valley index. it covers the areas of santa clara and san mateo counties as well as fremont. this index shows that not only is the cost of living getting higher, we know that, but the wealth gap is widening. you might know that as well. one of the most staggering facts just nine people, nine people in the silicon valley control 15% of the wealth. here are some other key takeaways. the median home price is now nearly 2 million bucks. at that price point, only about 26% of first time buyers can afford to buy a home. the index also found that there are more than 12,000 people in silicon valley are experiencing homelessness. joining us now is russell hancock, president and ceo of the joint venture silicon valley. the organization behind this index. the report found that silicon valley has some of the highest wage gaps and income gaps. why is that? we knew this, but why is it so polarizing here? we have high fliers. the technology, the technology economy requires extremely talented people who can do amaz

what this could mean for the silicon valley. also, deebo samuel has a message to 49ers fans today after being traded. you're watching mmmm... planet oat's so creamy and not watery like- exactly! and unsweetened has 0 grams of sugar. and don't forget, it's an excellent source of calcium. ♪♪ wow! planet oat really has it all... you guys are so right! no you are. no you are. no you are. yeah, you are. ♪♪ news tonight, a big announcement for the world's biggest microchip maker, taiwan semiconductor, which makes chips for nearly every piece of technology we use, is pledging $100 billion to build new facilities here in america. the company's ceo appeared alongside president trump. it comes about a week after apple made a similar pledge to spend $500 billion in the us, although the money from taiwan semiconductor will largely go to building in arizona. it will also have an impact in the silicon valley. i think when we look at our workforce, when we look at where our country is headed in terms of innovation, leadership on a global scale

silicon valley. i mean, geographically, san mateo, santa clara counties, parts of santa cruz and southern alameda. here are just a few interesting findings. the average per capita income $157,000 per year. one of the highest in the country. we have gained a net 12,000 new neighbors from foreign countries, while nearly 19,000 people who did live here moved out. 56% of silicon valley has a bachelor's degree or better. we have fewer children. residents under 18 down 14% since roughly ten years ago. 21% of the residents are foreign born. chinese is the most often spoken language behind english. 66% of our friends and neighbors who work in tech came from overseas. though tech workers in general account for just 28% of us. the vast majority of us work in something related to the community health care, government, that kind of thing. those jobs can be can't be done at a distance. so they stay here. but tech often can work from anywhere. we invented those tools. we invented those platforms. the ability to do

it was two years ago this week that silicon valley bank collapsed. two years ago tomorrow, to be exact. in that time, svb has recreated itself, still serving high tech and wineries in northern california. the way it used to, though, some of its executives and former executives are still facing lawsuits and government action. ken wilcox was ceo of the bank from the years 2000 to 2010. so to be clear, he was not there for the collapse and he's not being sued by the fc. he's written a new book about china, and we'll get to that. but i wanted to start with this anniversary. so, ken, your bank is back, though, part of a larger company that bought it, and it seems like trust is back. that's a tall order for a bank. i think we're getting there to the extent that i identify with the new svb. i say we and i hope we're getting there. it feels like we are. it was a terrible, terrible day though, two years ago now the ftc, fdic, ice, i should have said, is suing a number of bank executives in an attempt to recoup, you know, millions of dollars. i'm certainly not

the annual look inside what makes the silicon valley tick. that annual list is out. and the bottom line no surprises here. it's incredibly expensive to make it in the bay. let's bring in our business and tech reporter scott budman. we do this every year. what's what stands out this time around? probably the income inequality raj we talk a lot in this space, you and i, about how expensive it is to live here in the bay area as a whole. the latest numbers are out, though, and in silicon valley specifically, the cost of living is even higher. we start with the most staggering fact nine people in silicon valley control 15% of the wealth here, the wealthiest 1%, about 9000 people control nearly half of the wealth. we have the nation's highest wealth gaps and the nation's highest income gaps. and the gap is getting wider. jocelyn barker grew up here. a lot of my friends that i've had growing up have had to move out of the area, likely because of the $1.9 million average home price in silicon valley. it's eroding our workforce because now it's not necessary for people to be

what is it saying about job growth in silicon valley? it is saying that really you've got to be in ai. and we've talked about how many companies are cutting back on non ai jobs. but hiring people that can program the artificial intelligence and the bots. et cetera. nvidia makes chips to power all of that. so they've been hiring and training people to specifically make chips and the software and all of that for ai. and i talked to them earlier today about what you'll be able to see at gtc come the 18th. and they say one of the things they'll be doing is rolling out some of their education. they're trying to hire people that quickly, that can do ai and program ai chips. so one of the things they'll be doing, in addition to the keynote and all of the meetings is saying, hey, let's sit down and work on your training and figure out how to get you a job in this field. yeah, they've had solid earnings reports quarter after quarter, ai jobs hot in silicon valley. in general. there's a lot of chip companies here based here very much. we've seen c

roy clay was a pioneer in the silicon valley who in arguably pushed the door open for others behind himf, david packard, hired clay when other companies had turned the young man away just because he was black. clay's son chris says his father always admired his boss for it. >> that he just wanted the best possible workforce, the best possible team to build the best possible company and it didn't matter what color, what ethnicity, what country those people were from that built the workforce. he just wanted the best and the brightest. so one of the things that he did was he recruited from traditionally unrecruited from territories like historically black universities. >> reporter: chris says his father believed in having the largest pool of applicants possible, using his position at hp to fight inequality in the industry. >> and you got to expand the talent pool. when a certain person talks about eliminating dei, that's the stupidest thing in the world because what you're doing is you're cutting off a big chunk of that potential talent pool. what dei done right just insures that you have

. >> a new study is highlighting a growing wealth gap in silicon valley. joint venture silicon valley put it together and found the median income is around $157,000. but the gains are not keeping up with inflation, which make it hard to keep up. also of note is the region has the second highest concentration of billionaires. only hong kong has more. but with the haves, there are also a lot of have nots who are struggling. >> millionaires, billionaires in huge concentrations. but nearly a third of our population not self-sufficient. and what that means is that those households require a form of, of a form of assistance in order to get by. >> the region is seeing an influx of venture capital. $69 billion was pumped into silicon valley last year with $22 billion going toward artificial intelligence startups. >> in san jose. the mayor has a controversial new proposal that would require people who are unhoused to accept help or face arrest. abc seven news south bay reporter dustin dorsey takes a look at the plan that city officials hope will make a difference.

so, i want to start by asking you both can the pentagon be run like a silicon valley startup? what does it need to go full founders mode? [laughter] >> thank you it's an honor to be of general rainey his leadership of a long admired truly an innovative thinker. so let me put it this way. for those who do not spend all day reading blogs and things like that maniacal level to fixing the hardest problem every level of organization and silicon valley speak. i like to think of it in a different since the true founders mode to be like founders and framers of the american mode which is how you get things done in the constitutional and practical sense given that we have separation of power and the government to think that actually rates your question about doge. i'm quite supportive and enthusiastic about the doge effort the much needed for those who do not think there's ways to the defense department, and a real terms were spending more money they were spending during the reagan buildup we have 1 million fewer active duty service members. we've increased the biggest branch the milita

silicon valley also leads the way in remote work, with employees spending 37% of their days at home.'s high speed rail authority is optimistic about the future of that project. this after the trump administration raised red flags about the cost. the ceo, ian chaudhry, says the project needs a new financialhe strategy, which includes long term sustained investment, innovative financing and public private partnerships to leverage state funds. >> we are very optimistic that we will have a solution working with the state and with private sector that we can stabilize the funding of this program this year. at some point. >> the trump administration asked for a compliance review of the project, which is way over budget and behind schedule. the investigation will determine whether billions in federal taxpayer money should be committed to the project. bart wants your input on proposed fare increases. they're talking about a 6.2% increase, which is scheduled for january 1st. bart says the proposed hike will help minimize the risk of service cuts. while the transit system explores a long-term f

french and european socialist leaders not the socialism that we would call liberal principles in silicon valley would be. i saw very good danish through run by 18 marshall plan assisted factories so the parents can keep on working. these children made me feel that we have a stake in working peace such as we never had because another war would be in everyone's country and in everyone's home. we have an incentive for. peace. and nowhere does one feel it more than in peaceful amsterdam. much of which i saw from the picturesque canals, recovery has been in holland, thanks to the marshall. when we to the harbor, i was astonished to see the number of shipyards hardest work shipping activity broker master told me is 90% of pre-war north. a great deal of reconstruct ocean and building has been done to improve the still actual town in shortage. i was encouraged to learn that in many places old primitive homes have been replaced by modern. naturally, the trip wasn't all economic. sometimes we were just plain tourists. i wanted to take my grandchildren to poland, see the house where their rosebud ancestor

rarely do we talk about a big tech story without the silicon valley. in videos, a chip maker.e got all sorts of connections here. is there an impact here to town? in the short term, no. the money that taiwan semiconductor is bringing to america will go to build chipmakingacilities. and let's be honest, less expensive areas. so we'll say texas for example, right. it's largely in arizona, but eventually the trickle down could lead to smaller companies where investors are saying, we have to get into this. and there are many of these startups here in silicon valley. okay. thank you. scott. you bet. thanks, raj. thanks, scott. it's something we struggle with here in california, but right now, people in the south are dealing with dangerous wildfires. at one point, more than 175 fires were burning in south carolina, fueled by a perfect storm of windy and dry conditions. video shows people forced to evacuate and running. you can see running to safety. so far, there are no reports of buildings damage. by this afternoon, there were five active fires remaining. the largest is burning nea

. >> in silicon valley. we'll break down the numbers and show some of the cities with the largest gender pay gap. >> and he's been in prison for more than 30 years. yet he still teaches a class at the university of san francisco. [music] >> the cost of being involved in a car accident can create chaos in your life. property damage, health care costs, and lost income can add up to hundreds of thousands of dollars. at jakobi meyers, we provide the legal and emotional support you need. for over 50 years, we've been fighting for californians, and we've recovered over $2 billion in settlements. if you've been injured in an accident, we can get you the compensation you need. call jacoby and meyers at one 805 million today because yo deserve protesting a new policy by a san francisco bathhouse this week. the russian bathhouse, banya said it would be holding a cultural and religious women's night, which would only be accessible to people who were women from birth. demonstrators rallied outside the bathhouse yesterda

in other words. >> joint venture silicon valley says don't expect any immediate relief, either.2023, about 10,000 housing units were approved, but that number dropped to 4900 last year. there's also a large disparity in home ownership 60% of white residents own, compared to 34% of hispanic, latino and black residents. >> and our work to build a better bay area. what about making it better for business in san francisco? when it comes to dealing with bureaucracy, the struggle is real. >> but they put these obstacles are another obstacle. so make your life impossible. >> to make real stories of what business owners go through, and a look at how it could get dave's been very excited about saving big with the comcast business 5-year price lock guarantee. five years? -five years. and he's not alone. -high five. it's five years of reliable gig speed internet. five years of advanced securit. five years of a great rate that won't change. it's back. but only for a limited time. high five. five years? -nope. comcast business 5-year price lock guarantee. powering five years of savings. powe

in silicon valley or washington, but it's just not right. because if you go to india, if you go to russia to go to china in advance technologies, or are part of it's a global scene right now. and so this is the reality. the mindset in the united states up until a few weeks ago was no. this is a us led world that was the vitamin ministration mindset, obviously wrong and, and rather dangerous because it says we can push around anyone that we want to push around. obviously, if we just have enough, will, the british mindset remains, not only is it unipolar, it seems that the mindset is, it's british, i don't know if it's, i think, you know, it's, it's a, it's a little weird. you know, the us is a friendly hand of the british empire. i'm not sure what the mindset is, but it still doesn't get it quite right. but as you say, well the, the brooks had 36 countries in cars on the countries were about half the world population. the membership of the bricks today is around 40 percent of g, d, p measured purchasing power parity. i've a china is industria

in silicon valley or washington, but it's just not right. because if you go to india, if you go to russia to go to china in advance technologies, or are part of a global scene right now. so this is the reality. the mindset in the united states up until a few weeks ago was no i. this is a us led world that was the vitamin ministration mindset, obviously wrong and, and rather dangerous because it says we can push around anyone that we want to push around. obviously, if we just have enough, will, the british mindset remains, not only is it unipolar, it seems that the mindset is, it's british, i don't know that, but that's, i think, you know, it's a, it's a, it's a little weird. you know, the us is a friendly hand of the british empire. i'm not sure what the mindset is, but it still doesn't get it quite right. but as you say, well, the, the brooks had 36 countries in cars on the countries were about half the world population. the membership of the bricks today is around 40 percent of g, d, p measured purchasing power parity. i've a china is indu

sabÍa usted que las mujeres hispanas silicon valley estÁn enfrentando las mayores disparidades. >> esa que las mujeres no era sujetas de derechos, uno tanto tambiÉn para acceder por ejemplo a un trabajo histÓricamente las mujeres tenÍan que pedir el permiso primero del padre, del hermano y posteriormente de la pareja. >> pese a los esfuerzos de lograr la igualdad, persisten grandes desafÍos para las mujeres. particularmente para las hispanas en cuanto a recibir salarios justos. por ejemplo en un estudio revela cifras alarmantes. en san josÉ las mujeres ganan $0.72 por cada dÓlar que ganen los hombres . pero por quÉ se ve esto en las grandes empresas? >> cuando hablamos de estructuras hablamos de sindicatos. cuando hablamos de estructuras hablamos de los empresarios, de las grandes empresas donde no han incorporado sustancialmente el discurso que se dice hacia afuera. ahora es como transformamos. >> los suicidas de polÍtica de la mujer del condado de santa clara, muestra que en california las latinas se les paga $0.44 por cada dÓlar ganado por un hombre blanco. y a las mujeres nativas

as the fed's review noted, its supervisors did not fully appreciate silicon valley bank's vulnerabilitiess it grew in size and complexity. when risks were identified, they did not take sufficient steps to ensure that svb fixed those problems quickly. the result was the third largest bank failure in united states history. it was a supervisory failure. our financial regulatory agenda must start with a fundamental refocusing of supervisors' priorities. leadership must drive a culture that focuses on material risk taking, rather than box check -- checking. as such, i plan to use the financial oversight council, known as fsoc, and the president's working group on financial markets to drive change in our regulatory environment. we need our financial regulators singing in unison from the same song sheet. to be clear, this does not mean consolidation of agencies, but coordination via treasury, such that our regulators work in parallel with each other and industry. i am excited about the dynamic leadership that the president has put in place across the financial regulatory agencies to drive this p

look, doge is led by a silicon valley disruptor entrepreneur group. i think there are some genuine. potential complications in terms of conflicts of interest of some of the core players being government contractors, but the question -- >> elon musk has a contract with the pentagon for starlink. >> i'm clear, yeah, so you know, transparency, conflicts, but to be positive about something. there are a lot of legacy platforms that are still being acquired because of the home state congressperson, senator saying you've got to keep buying these. this is a chance to inject a little entrepreneurial urgency in terms of looking at new systems and platforms. it's also a chance for there to be some really ugly deals cut that don't actually serve our national security and the question that we rely on a free and independent media to ask repeatedly is why is this being cut? why is this added? what are you changing? i think the right way to do this is through what we call regular order hearings, oversight, appropriations. >> i was going to ask you if you as sacd chair were going -- ranking, sorry,

>> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology," with caroline hyde and ed ludlow. romaine: live from new york, i'm romaine bostick. jackie: and i'm jackie davolos in washington. we will dig into the potential impact of the u.s. tariffs on the tech sector, especially kids, as the deadline approaches. and, dominating the 20 25 oscar as well as disney's hulu took a hit, crashing during the ceremony. first, let's get a check on those markets. what are you seeing, romaine bostick? romaine: the nasdaq 100 really indicative of that roller coaster ride. we had an excitation of the continuation of the tech rebound off of this strong rally on friday, but that got kneecap to about 30 minutes into the session. economic data, for the manufacturing in the united state -- for the contracts ring in the manufacturing, inflationary pressures really going head, but then guess what, a little bit of a reprieve, came in around 1030 time here in new york city, headlines from the "wall street journal" saying that the trump administ

and not everyone in silicon valley is on board with the president's mood.ove will look at what's driving that divide. and as we head to break, here's a look at stocks broadly moving to new session lows. the dow down almost 400 points right now. nvidia is down more than 7%. the nasdaq down 1.5%. and we'll have more after this we'll have more after this break. (♪♪) discover alaska aboard riviera, the only true foodie ship sailing the region. where breathtaking natural wonders meet unmatched service from the heart. with one chef for every ten guests, indulge in gourmet dining on an ultra-premium small ship. scenic days, endless memories. call now for amazing savings. book now at oceaniacruises.com growing. and with the help of financing from capitas, you can meet all of your business goals. because at capitas we finance the legacy builders, the creators, the freedom chasers, the opportunity seekers. at capitas, we finance small businesses. >> meet avocado's best selling green mattress made with certified organic cotton, wool and latex, plus ergonomic coils to

just look at the mess the fed made of the silicon valley bank. and i contend that there is a lack of understanding that is deliberate on the part of the fed with respect to digital asset policy. so the constitution says congress is your boss. but somehow, your staff have not gotten that message. so, chairman powell, do you commit on behalf of yourself and the federal reserve staff to comply fully with all document demands issued by this committee in a timely manner? mr. powell: sure. sen. lummis: will you instruct your staff to be complete in their responses and not to obstruct the oversight functions of this committee? mr. powell: we always work with the committee to be responsive to your requests. sometimes they are beyond our capacity to respond to and will work with committee and committee staff to do that, but we are always responsive to committee requests. sen. lummis: and i will look forward to engaging with you when you feel that our requests are outside of the scope of the oversight that we have over the fed. do you commit to disciplinin

in march two years ago, we saw the failure of silicon valley bank. svb marked the third largest bank failure in u.s. history and the largest sense the 2008 financial crisis, and yet, not a single federal regulator was held to account. in fact, fdic filed a lawsuit against bank executives, which accused svb of egregious mismanagement, and i agree. how is it that no bank supervisor has faced any consequences? with 30 mra's and m.r.i. a's that never had timely action, how can the people who are supposed to be our cops on the beat have not faced any recourse for such egregious failures? i simply don't understand. we must all address the fact that over the last four years, the biden administration and bidenomics have devastated, decimated, and destroyed working families. during joe biden's time in office, overall prices rose by over 20%, energy prices, 30 4%. transportation costs, 31%. groceries, 22%. and that is not all. thanks to bidenomics, 2/3 of americans have less than $1000 -- less than $1000 -- in their savings accounts. but there is good news. th

>> from the>> heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology," with caroline hyde and ed ludlow. live from new york, i'm caroline hyde. jackie: and i'm jackie the vallas in washington. caroline: the white house crypto summit as trump signs the bitcoin reserve executive order, white house ai crypto czar david sachs joins us to discuss. ai spending going strong as broadcom gave an upbeat forecast with ai being a key driver in the first quarter. hpe is out with earnings but shares are tumbling because of tariffs. breaking news moments ago, russia is willing to discuss a potential truce with ukraine, but it is with conditions. they are willing to discuss a temporary truce if there is towards a final piece settlement. what's the nuance? kaylee: -- kailey leinz: we just broke the story, but this is apparently something that russia presented in saudi arabia in talks last month, a suggestion that they are willing to agree to a temporary truce provided there is an effort towards a peace deal that russia likes. specifically what

benefit cut pretty the make it impossible to talk to a real person is a good business practice in silicon valley pretty but it is not our government should treat the taxpayers. yesteryear the democrats this funding for the social security administration, the entire in a far more staff and modernizer system breeding elon musk will certainly does not care for the friends and neighbors that i grew up with, social security is the most important reason that they can retire dignity braided before he had social security before he called it a ponzi scheme just as mother elon called the american people rely upon federal programs like social security, paradise unwelcome and maybe elon could use a little refresher on american history for decades, federal tax cuts said that have higher income coming going to chip in more and radical thing right now is that social security actually works in the opposite way pretty you make 160,000 a year, to be same amount of social security each year as a billionaire mikey musk. so many can make it work 12000 times your salary combined yet there social security tax rate is

an annual report from joint venture silicon valley.ottom half of households combined. the group's analysis found that income inequality in the region soared 44% between 2010 and 2023, as median household earnings climbed over $154,000 a year. that's nearly double across the us. >> well, it's oakland, baby. the town has a new smash burger joint celebrating east bay culture. hyphy burger recently opened on west grand avenue in the space of a former chinese food and donut shop. the hyphy menu is an ode to local hip hop culture. it offers two kinds of smash burgers. the burnout burger comes with jack cheese, jalapenos and pepperoncini, and the hyphy burger with two patties, american cheese, grilled onions, pickles and you feel me sauce. >> i think this is one of the best burgers we had in oakland. yes, sir. and the burger is so good, i tell you, you want to come back every day. it's so good and juicy. >> restaurant's name is a reference to the bay area hip hop subculture known as hyphy. later today on the nine, we're going to get a taste f

public transit in silicon valley could shut down on monday if vta workers go forward with a planned strike. negotiations have broken down between management and the union, representing 1500 public transit operators, maintenance staff and customer service workers. vta is offering a 9% wage increase over three years time with no service cuts. the union wants double that amount. >> with a wage increase at this level, or anything close to it would be service cuts throughout our system and the likely elimination of positions across vta. this is not a direction that we are willing to go. >> if a strike happens on monday, there will be no bus service or light rail service in santa clara county. vta paratransit will not be affected. >> high drama in contra costa county courtroom this week, as a former antioch police officer testified against other officers. another officer, rather over violent behavior while on duty and exchanging racist texts. the scandal has embroiled the antioch police department for several years. abc seven news reporter anser hassan catches up on the shocking testimony. >> ne

they are making it impossible to talk to a real person is a good business practice in silicon valley but it is not how our government should treat its taxpayers. elon musk, almost certainly doesn't care for for friends and neighbors that i grew up, social security is the most important reason they can retire with some dignity. before he called social security a ponzi scheme it was just last month that elon musk called the american people who rely on federal programs like social security parasites. well, maybe elon could use a littleis refresher on american history for decades our federal tax code has said, if you have a higher income, you get to chip in more. the radical thing right now that social security actually works in the opposite way. if you make 160,000 a year, you're paying the same amount in social security each year as a billionaire elon musk and someone can make 12 your salary and social security tax rate is a fraction of what your rate is, think about that. billionaires like elon are putting just half a cent of every hundred thousand dollars they make into social securi

it's called the silicon valley index.the report by joint venture, silicon valley revealed that businesses were growing in the green energy, clean tech and ai sectors. and 40% of kids were living in low income households. tomorrow's report is set to be released at 10. >> 9.26, and still ahead on the kron 4 morning news. we're continuing track the storm as it's kind of getting a little lighter now. storm tracker 4 showing it was in the south bay and now for a comeback and off. but we've got lots more rain where this came from there. we'll talk about that. >> 9.28 and rains kind of fizzling out a little we've got john with a look at how it's been moving across the bay so far this morning. hey, john. yeah, rainfall definitely been very south bay concentrated in especially south of there. once you get to the central coast, monterey and out to the central valley has just been so soaked overnight into this morning. >> that makes areas like mount diablo look very dry right now by comparison. we do have a little bit of cloud cover

it's called the silicon valley index. it is by a joint venture silicon valley, which includes information this says study about job growth and housing environment. wealth gaps. and the research is a resource for planning and policy creation. last year's report revealed businesses were recovering from the pandemic at a slow pace, but we're still growing, especially in the green energy, clean technology and ai sectors. the income gap, however, grew twice as big 40% of kids were living in low-income households. today's report is going to come out at 10 o'clock. so we will stay too. happening now. the american red cross in northern california is hosting a nationwide virtual blood drive in the hopes of eligible donors being able to make a schedule cause. i was like when it virtual. they just want you to sign up right now, donors, bill to make the appointment online from various locations that are convenient for you at the blood drive goes on for 60 days. they're hoping that they get 28,000 units of blood because they've got th

their incredible journey from silicon valley to washington, dc. when we return. [ding] [upbeat music] ♪ yeah, baby, i like it like that ♪ ♪ i like it like that, i like it like that ♪ ♪ yeeeeeaaaaahhhhhh ♪ are observing ash wednesday. it marks the first day of lent. it is the 40 day period of prayer and repentance leading to easter. ashes on the forehead symbolize mortality. during lent, catholics fast abstaining from meat today and fridays, as well as praying, giving alms, and doing other acts of penance. catholics observed lent through easter sunday, which is april 20th. a live look at a rome hospital where pope francis is continuing his recovery this morning. the vatican says he's resting after sleeping through the night with a ventilation mask. it says the pontiff remains stable, but he's not out of danger. as we've been reporting, pope francis is battling double pneumonia after he was admitted on valentine's day. cardinal angelo donatis is presiding over today's ash wednesday services as the pontiff continues to recover. well, new at six for you if you are th

that's a coin created by a silicon valley company called ripple. it was originally designed as a way to insulate international trade from the vagaries of currency values, and it made its investors rich. here's an interview shortly after xrp's invention with ceo brad garlinghouse, business insider says it's worth $9 billion. i have read that report. $9 billion. brad. blink if that's true. yes. he just blinked. look, i think this is a dynamic where i think about the long term success, okay? so it's $9 billion. that's no no, no okay. so we've had one of the richest people we've ever interviewed. the u.s. trade deficit surged to a new record in january. economists say american factories are buying up parts quickly because they're so confused about tariffs. instagram going to add a new feature allowing people to set up community chats. all the members of the chat you set up will be able to contribute a lot, like discord and bloomberg compared the prices of gasoline with electricity rates and determine california is one of the most expensive places to ch

. >> reporter: the former software engineer, who left wall street and silicon valley success, spearheaded a political action committee to bring new voices to washington. >> and both parties have been ignoring the biggest problem facing most people. >> reporter: that includes cost of living in the economic opportunities. he recruited and guided alexandria ocasio-cortez to unseat long-time incumbent and high-ranking democratic congressman, joe crowley of new york. >> if that could happen then and that lower changing environment and what could happen right now. >> reporter: pelosi and democratic leaders were paralyzed and unprepared to take on trump and elon musk. he says a transformation of the party will begin with her seat. >> i've got a lot of respect for a lot of what she has accomplished in her time in congress. but i just think we're in a different era now. >> reporter: he's a political science professor at sonoma state university. >> the progressives have been disappointed in nancy pelosi. they will continue to be disappointed with nancy pelosi. but the progressive left senses an opp

. >> reporter: the former software engineer, who left wall street and silicon valley success, spearheaded action committee to bring new voices to washington. >> and both parties have been ignoring the biggest problem facing most people. >> reporter: that includes cost of living in the economic opportunities. he recruited and guided alexandria ocasio-cortez to unseat long-time incumbent and high-ranking democratic congressman, joe crowley of new york. >> if that could happen then and that lower changing environment and what could happen right now. >> reporter: pelosi and democratic leaders were paralyzed and unprepared to take on trump and elon musk. he says

the book, music and lyrics for happy pleasant valley, making its world premiere at theatreworks silicon valleytarting march 5th. he

those types of policies and the whiplash would do, especially here in the bay area and in the silicon valleywhere, you know, you hail from. >> yeah. depending on which week it is, we'll know whether or not we have 25% tariffs, for example, on imports from mexico and canada. by the way, two of our very closest trading partners and allies. interestingly enough, i didn't hear about tariffs against russia. and we're going to see the impacts for american families. i've heard costs ranging from 1200 to $2000 per household, depending on how you calculate that impact. that's very severe. and we know at a time when families are struggling mightily, this is not the time to impose tariffs that are going to make it even harder for folks to be able to afford their groceries. so that's just one of many examples. >> so, congressman liccardo, how do you fight back against that given you don't have the numbers in congress right now? obviously, you're going to hope to get your message out and make gains in 2026. but for now, what will you do? i mean, there are some who are like, hey, i want to see democrats p

new at five a former silicon valley tech giant is trimming its workforce. we're talking about hewlett packard enterprise, the software and consulting company was formerly based in san jose, but moved its headquarters to texas in 2020, in spite of a positive earnings report earlier this year. the company is cutting 2500 employees. it says it is struggling with the discounting in the computer server market and uncertainty over tariffs. it's not clear how many of its california workers will be impacted. hpe says the move will save it $350 million over the next couple of years. a brand new early education campus in san francisco is honoring a farm worker, labor leader and helping move the bay area forward. the center is named after helen chavez, the wife of cesar chavez. today's opening ceremony had a mariachi band, tours of the center, and family activities. several of helen and cesar chavez's eight children came out for the ribbon cutting. they say they are thrilled that their mother, who never liked to be the center of attention, is being recognized for her

like he didn't get the help you need from the unions, from the city's on allen with the san jose silicon valley. naacp says when molina become a police officer, california sas making a huge push to hire officers of color. >> but they did not have enough resources to support their mental health flu. they need to initiate. >> different programs for people for law enforcement officers in the eu's bit more involved says this is a lesson city leaders must take. people were asking provide us with public safety services. we want them with taking care they can better serve our community. but from that moves, most amazing. we meet in person. he was funny. she kerry. very smart, extremely smart. in the meantime, jose and his family are remembering their brother for of he was. >> now just as someone who suffered. but as someone who lived, i just hope that, you know, that. people really from this. >> other folks unknown. if you have a loved one that have suffered from issues. >> help them there about mayhem says housing is not alone to solve the homelessness crisis. he also says the city, it's doing everyt

. >> getting around on public transit in silicon valley may turn into a real headache on monday, as vta workers prepare to walk off the job. negotiations have broken down between management and the union, representing 1500 bus and light rail operators, maintenance staff and customer service workers. the union is asking for bigger pay increases and changes to conflict resolution policies. vta has offered a 9% wage increase over a three year period. a statement yesterday by vta says, quote, we value our employees and have made a fair and reasonable offer. our appreciation extends to the riders we serve. while vta has tried to reach an agreement through conversations as late as this afternoon, there has been no progress. we need the union to return to the bargaining table. if the strike happens, paratransit will not be impacted. today, the alameda county board of supervisors will continue negotiating the sale of the oakland coliseum. it comes after they came back from a closed session yesterday with no deal. supervisor nate miley assured investors they want this deal to be done. the county

y este domingo, miembros del comité de inmigración de silicon valley realizaron una caravana.correccional anexo de golden state en mcfarland, donde se encuentra recluido el inmigrante ulises peña lópez, tras ser detenido por la fuerza y resultar herido. esto fue el pasado viernes. queremos enseñar nuestro apoyo, pero el apoyo de la comunidad para él y para los inmigrantes aquí en issa, san josé y todos en el área de bahía. sí, estamos presente y no, y no nos vamos a dejar, no solo nosotros como una organización, pero como una comunidad. bueno, el grupo dice que mostrará a las autoridades que la comunidad quiere que ulises sea liberado. especialmente aseguran, debido a las condiciones en las que fue detenido. ahora bien, es que la familia de ulises peña denunció en su momento que terminó en el hospital tras ser arrestado por ice. por su parte, la agencia ice emitió un comunicado sobre las denuncias de violencia durante el arresto, diciendo y lo voy a citar. durante el arresto experimentó una emergencia médica. no especifica. un agente de ice le brindó atención hasta que fue tra

rio vista joins suisun city in considering an agreement with the silicon valley. billionaire backed project california forever plans to build a new 18,000 acre city from scratch in solano county. the project requires voter approval. expected to head to the ballot next year. the annexation process could bypass that vote, giving cities a say in how the land is developed. >> a lot more to come here. a bay area based car rental website used to steal vehicles. one would be buyer helped police bust the scheme wide open. >> soon your cheeseburger may come with ai on the side. how the technology is being put to use with fast food. >> plus a new costco is coming and these folks can't wait. we'll have a look at the long lines and also talk about the traffic concerns. >> first, a look at what's coming up tonight on jimmy kimmel live! right after abc seven news at 11. jimmy. >> stay up and we'll scream together. >> the director last minute told me to grope this guy, and it really didn't go well. >> it didn't. his starship exploded today minutes after it lifted off in texas. s

he adds that with recent federal layoffs and the shift within silicon valley, his platform is seeing an increase in users looking for work. well, a new movie in theaters now is aiming to shine a light on the homeless crisis across the nation. no address was filmed right here in california. take a look. have you seen him? was that jimmy she was looking for? many of the scenes were filmed in the sacramento area. robert craig self-financed the film and landed numerous in numerous actors and actresses in the cast, among them beverly d'angelo, singer ashanti, xander berkeley, also, director keenan moran from walnut creek portrays a character named sam in the film. more than half of homeless people are kids. kids are the greatest victim in living in the bay area. we really see the effects of homelessness. the movie is in theaters right now. the filmmaker says half of the proceeds will go to nonprofits helping with the homelessness crisis. well, the spring break travel rush is almost here, and you could be shelling out more than you did last year if you're flying. that's according to recent