and devin wenig the ceo out. >> this is unbelievable.n we speak to devin, he was, to me -- again, like when alcoa met with elliott, we're much more aligned they always say that to us, david. marathon, we're really aligned david, unless it is aligned like invisalign, i'm taking a harder line. >> a characteristic of many of the activists, particularly the successful ones, they're relentless that's something at&t will want to keep in mind as well. it is not just once. it is -- it goes on and on and here, jim, it seems as though the board was simply unhappy as best i can tell with the performance of the marketplace wasn't about actually -- wasn't actually about moving the process along faster in terms of potential sale that's moving along. it was really about the performance of marketplace and mr. wenig wasn't getting it done there. >> you look at shopify, the comps are hard to find when you look at shopify, when you look at etsy, you know, libra, this company was underperforming. devin wenig, to his credit, said, listen, i'm trying to turn

it's not clear that the market at least initially sees wenig's departure as a didn't thigood tg shareshis morning lower. but, guys, there are still plenty of concerns about ebay's growth prospects here. it has struggled to compete with amazon and its gross merchandise volume is a key metric for this company. that's the total value of goods sold on the site that has been declining. to offset slowing growth, ebay is looking to advertising and payments so who they choose as its next ceo, potentially if they could come from one of those spaces, that could tell us a lot about where the company wants to go next back to you. >> so the change in leadership here at the top, i mean is the read-through that maybe wenig was -- i know there's this strategic portfolio review and the company has been under all of this and activist investor pressure is it that maybe he wasn't moving fast enough >> like i said, the stock is up 40% year to date so the markets think that he is doing a decent job with that strategic review i think the problem is much broader. this is a company that is seeing sales decline

spencer: it is hard to find a better champion for ebay than david wenig.was enthusiastic and took efforts to try to really rebrand it and kind of shed its image of being this online garage sale and reestablish it as a place to go to buy new things. it seems like a inertia has kind of set in. placeholder until they find someone else. when they pick a new ceo for a company, does it look like they are picking a new financial architect to further break it up, or are they looking for someone to re-energize ebay, which was we make -- wenig's plan that never went anywhere? taylor: how do they compete with amazon? spencer: not that greatly. wenig would even choke at their conferences, we are not the place to go if you want a roll of paper towels in an hour. ebay is more of a place for enthusiasts, like if you are a car above, you will go to ebay to find a hard-to-find car parts, or if you are into video games and accessories, you might go there to find difficult-to-find items. i tried to differentiate themselves that way. days or a weekke to get things delivered s

. -- wenig wasg enthusiastic and took efforts to rebrand it, shed its image as this online garage saleestablish it is the place to go to buy new things. none of it caught on. it seemed like inertia set in. it looks like scott is a placeholder until they find someone else. that's going to be more telling. when they find a new ceo for the company, are they going to look for a person to break it up or someone to re-energize ebay, which was the plan that never really went anywhere. taylor: how can they compete with amazon? spencer: not that greatly. they have tried to distinguish themselves more, and they would even joke at their ebay conferences saying we are not the place to go if you want toilet paper in an hour. amazon has the commodity play. trying to replenish people's homes and cupboards, and eva -- ebay is the place for enthusiasts, like if you are a car buff i do need to find hard to find car parts. if you're into videogame accessories, you might find difficult to find items. they tried to differentiate themselves that way. but, in terms of delivery, you could be talking days or w

and ebay's wenig let's dig deeper into wework where there's been a lot of attention on their biggestsoftbank. but another major lender with billions of dollars invested in the company is jpmorgan. a new "wall street journal" report details the ties between the two companies including the relationship between wework's co-founder adam neumann and jpmorgan's ceo jamie dimon i'm joined by one of the reporter behind the piece dave benoit from the "wall street journal" and our own deirdre bosa who's been following the saga i was going to say story but it's really a saga as well dave, i'll start with you. the fact there was a lot riding on jpmorgan on wework's ipo. >> for sure. wework was a big client for jpmorgan not only were they the lead bank on the underwriting of the ipo but they sort of were entangled in this company in a lot of different ways lending to the company for real estate, lending to adam neumann personally on a very big level >> now, is there anything -- there's a difference between saying they were nefariously intertwined and simply saying jpmorgan made a big business bet