innovations, things like uber or streaming youtube on the train have not necessarily accrued to the teleco. so this is an opportunity for the telecos to get in on the ground floor and help develop those applications. >> that's one of the reasons why we are hiring thousands of software developers. you know, in addition to that, it's also about becoming more self-sufficient when it comes to creating services in order to create, you know, create unique ip but also to make sure that we do it at the right cost and can get things out very quickly rather than purely depending on third parties to do that. second is networks are moving to being more software driven. so you look at the more software -- sd lan and so on, so that's important that we are -- you know, knowledgeable on how to configure and develop software ourselves than depend on a third party. many reasons, including moving up the stack to offer solutions such as the ones we just described. >> fantastic. one question that was submitted by our audience and also chris briefly alluded to earlier was the role that ai could play on top of 5

the telecos have enough going on we will talk about that on the sell that side comcast is a leader in its space look at the margins just on broadband. then you have nbc universal, the international assets in the uk, peacock, that is basically valued at zero then if you look at the catalyst for november, when we are actually going to let people from europe fly in and the borders are starting to open at 14 times earnings, brian roberts at the helm, you have got a great balance sheet, 2% dividend yield the downside here is much less than the upside. the upside for us when we see this stock is much greater. >> do you want to quantify that or >> i mean, for me, i mean, you get a normal -- okay so the s&p trades at 20 times this should trade at a higher multiple because the growth rate is higher than the s&p i could see 50% higher here. i don't know if it gets there in the next two or three quarters we invest for two to three years. but this is a very solid company. they can buy back shares they can take moore debt on. the balance sheet is a strong place. fund lee this is one of our stronge

and then the telecos now we want to know about new subscriber additions and we want a read through on iphone sales because they give you the iphone sales and that will boost appl sales but i don't think we want to own apple or verizon. you don't buy stocks that are stop going lower you buy stocks because you think they'll go higher. i don't have a calculus for either verizon for at&t. after the close wednesday, we get results from ibm now we placed this in the bull pen last week so we could get a sense on whether it is time to pull the trigger for the charitable trust you know who will have a blow out quarter next week, tesla, that's who when you see the raising numbers, the numbers will be insanely good and i would bet on tesla. i hate to use that term but tesla is a good bet. then we have two rails, with csxond wednesday and union pacific on thursday morning. we're be all over these two because i'm betting they could tell us about the supply chain failures i we'll hear that things have gotten worse not better. get used to it we need more technology and more better paid people to be

the last many years almost unfettered and they have been a shared grainer from that very slow dsl teleco company that's in your neighbor. and they have put more capital into-second sector, they are building fiber as well as 5g and there are a lot of folks who don't have broadband it is going to make expenditure go up and pricing go down. the businesses are going to come under pressure. >> frank, what was the sudden cat catalyst i think comcast said soft customer ads when the shares were down. what has changed from a area where people were generally bullish to one where they have pretty deep concern? >> i think steven and i are rooking at some of the same data there is significant amount of homes that are going to be overbuilt with fiber over the next four or five years. roughly 45 million homes you put that together, it is suddenly not going to be as easy for them to win shares the other thing we think is coming up arechanges in the regulation once the fcc gets five commissioners, we believe they will reinstate title 2 they have never been under regulation you have got companies priced f