tell us about what twilio is doing to stop the pandemic >> twilio is used by so many organizations and we are so proud that our product can be used in these ways we saw twilio used for kcontact tracing on top of twilio covers half of the american population. that's implemented in the city and the state level across the united states. more recently we have seen yucae around vaccine distributions a lot of people are focused on how do we get the vaccines out of the world, refrigeration trucks and all that kind of stuff. a lot of organizations and cities and states are using twilio to get to the vaccines, convincing people to get vaccinated so this is really a two-prong effort you have to get the vaccines to people but also get people to the vaccines and there is a lot of ways, text messaging and phone calls in order to coordinate all of that human logistics. >> one of the things you talked about, you have a terrific engagement study which talks about the acceleration by an average of six years >> yeah. >> it made sense if you think of all of society face-to-face interactions shutdown over

. >> right some of the picks, we'll just get so tom of them, twilio, docu-sign. palo alto. are you wrestling with valuation at all >> absolutely, valuations are a constant conversation with clients. but we'll tell you that the relative fundamentals in our sector have been better. we think the interest rates have definitely played a part in the valuations but, again, i would say that the number one driver for returns in our sector is growth, and particularly it's the amount of outperformance versus consensus expectations the way we look at our top picks, twilio, docu-sign, first you start with the fundamentals, secular growth opportunities, but more importantly, we think they're going to beat numbers by more than most people expect in 2021, and we think that's going to continue to be the number one driver of returns in our sector. >> now, alex, i know you have crowdstrike in there in the wake of the solar winds hack, i'm wondering what you're anticipating in terms of the cybersecurity space, the fact that it took so long to identify the hack, does that sort of mak

if you look at companies like twilio, okta five years ago, you would've said, sure, they are a couple dollar companies, but they could never be $10 billion or $20 billion companies. if you look at companies like twilio, okta five years ago, you would've said, sure, they are a couple billion dollar companies, but they could never be $10 billion or $20 billion companies. now they are growing and growing. these companies can grow forever, and we love them. emily: let's talk about that. wish is poised to go public tomorrow, the e-commerce retailer. they price to their ipo at $24 a share at the top of the range. i'm sure you have been following airbnb and doordash, both pulling back after their exuberant receptions on wall street. even brian chesky was at a loss for words when we told him that the shares had doubled at the opening. are these valuations in line with potential, or are they insane? dick: brian's experience gave me ptsd. i had the same reaction the morning of our ipo. i think that some markets are underpricing risk. valuations are high. i say that because you have the hard bre

that's twilio. emerging growth is overvalued. however, emerging growth, if there is to be a correction, will find those source of funds going into established growth. this is different from '99 in '99 there was no alternative when the bubble burst for the emerging technology names. this time around there is. >> what you know they call that? >> what are you going to say. >> apple, amazon, microsoft -- >> you know what you call it >> no. >> joe's going to love this. quality. right, joe, quality? >> no, quality - >> quality momentum. >> like the joe etf. unscheduled but fabulous appearance, jim. thank you. >> i love you guys what am i stealing what >> what did you say? >> i'm stealing something. >> no rule book. no rule book. >> no rule book. is there any real overlap between "mad money" and this show i don't think there's no rule book. >> no rule book. >> what do you have tonight? >> pvh, which is not overvalued, so to speak. brad jacobs. u.p.s., look, these are undervalued companies. there's, frankly, a rule book. >> we can't wait

but it's not unlimd for all of them if we cannot make a case, we have to trim it back we've owned twilio we still own a big position and we think that's the prudent think to do. 15% of the market cap of the entire u.s. market, all public equities is in stocks that trade at these kind of levels, that's more than we would feel comfortable. so, yeah, i think it's time to do that and perhaps the place to put some money is maybe an apple or the type of name like crm where, you know, they pause, they've come down. we think there's a good area of growth to invest in and it should not be as heavily into the extremely high valued names that have been the spike of the market for the last couple of months. >> doc, nasdaq's been hitting new highs lately lately for the last few days in a row. is that the train you want to get off of now >> no. no, it's not, scott. we all know, we anticipate there will be some tougher days in the middle of january to the end of january. but i think you stick with the reopening plays, all of which virtually are working today phenomenally well. along with tech. like i s

twilio, mongelbd. it is huge. people looking at electric vehicles in whole new way.pple will have vehicles by 2024. the race for better battery technology. that fueling kwan stomachscape. what about charging stations? blink charging up 129% from the 52-week low. we have michael lee's strategies michael lee. david nelson and courtney dominguez, payne capital management. a group i'm not familiar with. start with a name everyone snows. it was buzzing space. not just tesla, mike, to make ev real it will take an echo system, you will need better batteries, you will need more charging stations. to me as someone listening it sounds like a great investing opportunity. what are your thoughts? >> i think this electric vehicle talk is a little bit of noise. i think people are looking at the success of tesla and they're saying oh, it is an electronic vehicle company. look how great they're doing, not realizing tesla makes best cars on the road, period. if you could have any car you want right now for $100,000 you probably want to get a tesla. that is why they have something succ

i don't know what it raised it to but twilio up 1.4%. that is an all time high.pping. we have a big name moving out of california. susan will tell us who it is and where they're going? susan: one much the richest men on the planet. he is taking his company to austin, texas, accelerating a silicon valley exodus. in the sec filing, it is the remote work trend. they want to provide flexibility to their staff. they didn't talk about taxes or texas. they say depending on their role means many employees can choose their office location or work part time from work or all the time. i think it is also news making, all the time from home. oracle joining legendary sill son valley pioneer hewlett-packard enterprises packing to the lone star state. elon musk is moving to texas and austin. companies like at&t and charles schwab and pod star joe rogan. taxes you might think has to be part of the calculus. texas has zero state income taxes. california has highest rate in the land. on corporate taxes you say 32% more if you have your headquarters in texas relative to california.

us to discuss is nuveen's ceo jose minaya how to you pick what goes in them the mid cap growth has twiliocessarily what you would think of as esg players. >> the discussion around esg is twofold. we manage almost $30 billion in esg labelled products. they have been around for a long time there is a mythology of which benchmarks you use, the criteria, i think the real discussion in where we see opportunities is that that narrative is coming. investors used to say i am willing to pay a higher fee and i understand i am going to get a lower return now they are expecting lower fees and higher returns and that you are going to drive output from this. we moved $100 trillion to be informed by esg risk factors we believe that understanding those risks and managing them in your portfolio is a way the drive alpha. you are seeing a marketplace where whether it is your shareholders, your clients, people are requesting and looking to see how firms manage these risks. now it's about the of a if a testing and how that compares. er seeing, and we are seeing within our own funds increased flows, outperform