zillow is a good example. the one year before zillow went public, three or four years after, was a period of hyper growth which with the company public at about $500 million market cap and a couple years later is probably worth $5 billion or so. that's really a sweet spot to go public through a spac merger. in the case of zillow ipo, we priced at $20 a share and it traded up to 60. we left an enormous amount of money on the table. the average tech ipo trades up 43%, which on the one hand sounds really impressive. on the other hand, it's leaving a massive amount of money on the table. it's not a great way to go public. so a spac merger offers an alternative path, where a company can merge into an existing public company, get public very quickly, it's a couple weeks process instead of a couple year process, and get on with what comes next which is the growth phase. and also have better price discovery so not leave as much money on the table as they do in a traditional ipo process. that's why you keep hearing abo

. -- zillow.e subpoenaed the ceos of facebook, google, and twitter. >> the antitrust subcommittee will be issuing a report next week. it may be bipartisan or not. we haven't had a chance to read it. what we learned today is that the experts, the professors, the former regulators, the people who studied this see a problem with high-tech and the anti-competitive behavior of five of the platforms. that while most return on capital has stayed stagnant for the last 50-60 years, big foreman high-tech -- big pharma and high-tech have grown. >> there have been some any conversations about them of speech and how big these companies are. how they are able to navigate section 230 for example. >> there are issues talked about more on the left and on the right. bias and the regulation of speech on these platforms is talked about a lot by conservative. they feel like they are being -- we feel like we are being discriminated against. the left, they talk about the size of these companies and the danger of having

-- cochair of supernova and co-founder of zillow.orhood allows with folksve actions next door as next door is about to go public. in kurt wagner, who covers facebook for us. what is facebook building here, and how close is it todoor? -- how close is it to nextdoor? kurt it is still too early to see what it is going to look like. it sounds very similar to next door. you would add your address and connect to other people in your neighborhood. it would create a facebook-like tour facebook smaller version just for people in your community. facebook-light or facebook smaller version just for people in your community. ande is another offering they are doing well so it is interesting that now facebook is trying to compete with them. is a greatbook success with marketplace, which has sort of been a sleeper hit, almost like facebook has created the new craigslist. other building on that with new features? kurt: i've been feeling the same way. marketplace is totally underrated. i've used it personally a few times and it is a far better experie

he was the ceo of zillow good to see you. >> can't wait to talk to you about all of those things. what kind of a grade would you give on the direct listing yesterday? >> i would give it an a. it didn't have the wild volatility or a huge amount of money left on the table that traditional ipos have. i think it was a pretty good day for direct listings. >> spencer, good morning, you took zillow public nearly a decade ago if you had to do that again with a company, that is the same, would you do something else? >> i would either do a dreskt listingov or a spac merger. they don't allow the company to leave money on the table we went public at $20 a share. we closed at 37. so we lost a lot of money on the table for an ipo so i think that there is a lot of innovation in the ipo space since a decade ago when zillow went public and i think there is now great alternatives available. >> it's julia here we look forward to sees what you do with your speak a question for you now that it is a public company. we have seen so many of the public tech companies face so much scrutiny from washington

researchers at zillow find 45% of female headed households are rent burdened. compare with 36% percent of men. for women of color, 51%. >> many industries impacted, retail, food services, hospitality, a lot of people there are renters. a lot of the people in the industries are also women. >> reporter: young is a senior economist at zillow. her team found childcare is the number one reason so many women are leaving work. >> they're really having to make this trade off between, you know, getting their livelihood or making sure their children are taken care of. >> reporter: more than 1 million people left the workforce in september alone. 80% of them were women. 22% of women had to leave work because they lacked childcare compared to 7% of men. women are also much more likely to be single parents who rent. they worry this will push low income women out of the region or on to the street. >> there is something that is still broken in the system where women still take on dual roles. >> we have to be sure there is a big step up from the federal government to make sure

since the great recession, however, latin x home buyers are more often denied by mortgage lenders zillowrts the typical latin x household, earns about 75% of what the typical white household does >>latin x has emerged as an ink inclusive gender neutral term that refers to people of latin american descent. >>living in the united states and although it is being used by a growing number of people it is still not widely accepted by all of the people it is meant to describe carlos saucedo takes a closer look at its meaning. >>i'm going to make that the spot for latin x entertainment shows to critical public health briefings, latin x latino latina latin acts is catching on, but what does it mean for that we head to a popular salvadoran restaurant in the pico union district of l a owned by self identified latin x family. >>i serve year of my >>they make the police us and much more with the twist hope you're all >>which is like i have talking because i come together. >>i'm 70 and had >>they've joined me would stephanie's parents mind one and sonia figaro a to talk about the x factor i was >>this

. >> what we found, after controlling for education, crime, walkability, and all those fancy zillow metrics in black neighborhoods are devalued by 23%, and accumulatively, that's about $156 billion in lost equity. $156 billion would have financed more than 4 million small businesses. it would have paid for more than 8 million college degrees. that discrimination is leading to a widening of the wealth gap. and so one can argue that we're in worse shape than we were 20, 30, 40 years ago. >> reporter: which made me think about an investigation abc news did long ago. one we hoped back then would open all our eyes. >> primetime, from new york, diane sawyer. >> good evening. we bring you the results of a "primetime" investigation. >> reporter: we brought in two young professional housing testers, accompanied by hidden cameras. here's how we started. >> mete john cunin and glen brew letter are they're both from the midwest, bent to big ten schools, played on the same softball team. they're friends. two young men whose lives are virtually the same in every way, but one -- the one you can see. a few

. >> cheryl young is a senior economist at zillow. her team found child care is the number one reason so many women are leaving work. >> they're really a having to make this trade off between getting their livelihood or making sure their children are taken care of. >> more than 1 million people left the workforce in september alone. 80% of them were women. 22% of women had to leave work because they lacked child care compared to 7% of men. women are also much more likely to be single parents who rent cheryl and danica worry this will push low income women out of the region or on to the street. >> there's something broken in the system where women still take on dual roles. we have to make sure that there's a big step up from the federal government to make sure, you know, we -- people can stay in their homes, people aren't in a situation that becomes really dire. especially for women. kpix 5. >>> economists say both long- term and short-term solutions are needed. short-term renters who are out of work need financial help from the govern

far ends people on the of this, like with zillow and dropbox that they are trying to emote the most. other founders are saying that they need to be in the office. i hate to answer a question with uncertainty, but i do not think that we know how this will play out. emily: there is a big question about the future of big tech are now. talking about regulation earlier, we were talking about could pave its way to a big tech breakup -- amazon,,hat apple, facebook are a big threat to a breakup? i have about two minutes left. bill: one thing that i think is inaccurate is that i actually think that the government restricting microsoft's ability to leverage their way through the browser, open the door for facebook, google, amazon, if they had been able to tie the browser to search, the way that they went after netscape aggressively, i think that they would have succeeded. they really care that stuff. the governmentat created the window for many of these companies. i am torn from that point of view. back smallerhat we companies, and having them thesect with us -- with companies, you feel the po

. >> zillow -- gene enlightened me on this one. he said this weeks ago, maybe months ago, talked about that in terms of one of those names that a lot of people don't think of that has plenty of up side in front of it. i like it, we've seen a lot of option activity out there as well i've got some calls there. and it just seeps like right it we're seeing activity across every sector, it's amazing how right they have been in so many sectors. we'll continue to do that. i continue to add all kinds of different names to my portfolio on the options side. >> coming up, our experts are ready to answer your questions as halftime comes up send your questions in by video. you can e-mail us askhalftime@cnbc.com we're back right after this. ♪ we'd be closer to the twins. change in plans. at fidelity, a change in plans is always part of the plan. nature's bounty is here for you. ready to take your immune support to the next level? the number one herbal supplement brand has everything you need to help keep your immune system strong. immune support

companies like netflix, like peloton which you mentioned and zillow and spotify which were start bidho hired great teams and went after a prize that nobody else could see at the time. and so i would point out that covid-19 hopefully in a relatively short term phenomenon, we're focused on the long term. was there some increase in demand due to the current situation? sure do i think that the fundamental consumer value prop remains -- will remain very strong in the future for many of the companies? absolutely and to continue on that path towards the mountain top whether the world reopens or the world is shelter in it place i understand from a trading standpoint that could be really important. but i don't have any -- i'm not an epidemiologist and again, i'll leave that to the experts on when the world will be ready to reopen. they're reopening the world in 2021 might look quite a bit different than it did in early 2020 in terms of strategic landscape and lots of verticals being reshaped >> can i just quickly ask what you mean by that last point? >> sure. so if you think about in the case

. >> thank you steve weis to you from holly in pasadena i started a new position in zil o zillow groupicroand macro for the industry >> it's not based on home sales. it's based upon sales interest in the market. it's got obviously big advertising base and that's it clearly it's not a stock for a volatile market but seems like there's great support for 90s. i'd stick with it, wouldn't sell it >> pete, what duration and spread should i sell calls on k kmi, kinder morgan >> that's difficult because of implied vol tilatilitievolatilif stocks and kinder morgan is not one of them. for now you have to sit on your hands. i'm still holding on to the stock but i've been frustrating in what i can sell against the stock right now in the options world. it's very, very difficult to find anything money. >> liz says i have most of my money on the sidelines should i invest today or should i wait in other words, she wangts nor ca -- another call from you, too >> it's a great question i don't want you to miss the recovery trade we still see persisting here, jill, but i do think it gets worse in the short

. >>> also, look at zillow, missing on its [ inaudible ] all agree the value and growth potential of the online realtor's home flipping business is being undervalued in this home buying movement we are seeing. mortgage rates at 3%? come on. housing certainly one of the bright spots in the economy. >>> plus millions of unemployed americans and businesses being left in the dark as stimulus talks drag on. we are going live to the white house coming up next. job, mich! job, mich! ok, lindsey now tell the class what your mommy does... my mom has super powers. it's like she can see the future. what?! it's like she time travels in a rocket ship. that's cool! and then she comes back saying "try this" or "try that." she helps everyone. she helps them feel less worried. wow! mommy, so what is it that you do? i'm a financial advisor. she is! aig proudly supports all the professionals taking care of our financial futures. cheryl: we have just learned that house speaker nancy pelosi and treasury secretary steven mnuchin did speak over the phone in the last two hours, trying to hammer out another

that when you owe that kind of money you start doing desperate things look at what i saw today on zillows selling the white house [ laughter ] i'll check it out at open house. i'm not sure i'm going to buy it since 2000, trump has reported over $300 million in losses just from his golf courses would have been a better investment if trump opened up a radio shack inside a a blockbuster inside a sears [ laughter ] it wasn't all bad news for trump this weekend on saturday he officially named his nominee to replace the late justice, ruth bader ginsburg on the supreme court. >> it is my honor to nominate one of our nation's most brilliant and gifted legal minds to the supreme court she is a woman of unparalleled achievement, towering intellect, sterling credentials, and unyielding loyalty to the constitution, judge amy coney barrett. >> jimmy: oh, good lord that took forever by the time trump was done with the introduction he had to fill three more supreme court seats [ laughter ] seriously the only thing trump will drag out longer are the results of the election. of course, the presidential e

zillow, a little less than that. that's a great report.ed to be the guys i relied on to figure out how bad housing was. this is when you haven't been able to sink, shares of general electric, it was legitimate beat, it was not one of those paper beats. why don't we have ceo larry culp come on now? good to see you. >> jim, good morning >> when i go through the usual deck, what i notice is this time it is not a discussion about how important aerospace is you're talking about industrial, talking about aviation, talking about healthcare, which seems to me to be in a course of real growth power and renewables no longer seem to be the weak sister to your company i'm wondering whether we're getting to a narrative with the layoffs that you had to do in aerospace where in 2021 we're going to be talking about aviation, healthcare and power pretty much equally. >> well, jim, i think there is an important role for all four of our industrial segments to play at ge you see that today in the earnings release, right? 500 million free cash flow in the thir

is, we'll be monitoring that as well and we'll be getting an update from the president's own far zillow is in about 42 minutes or so, ahead of that how this literally upended washington right now, not only on stimulus, which now increasingly looks good but on those supreme court confirmation hearings for judge amy barrett, a lot of senators have met with the judge, including my next guest, rick scott, after this. i'm happy to give you the tour, i love doing it. hey jay. jay? charlotte! oh hi. he helped me set up my watch lists. oh, he's terrific. excellent tennis player. bye-bye. i recognize that voice. annie? yeah! she helped me find the right bonds for my income strategy. you're very popular around here. there's a birthday going on. karl! he took care of my 401k rollover. wow, you call a lot. yeah, well it's my money we're talking about here. joining us for karaoke later? ah, i'd love to, but people get really emotional when i sing. help from a team that will exceed your expectations. ♪ neil: all right everything is different. just a few days ago, a week ago in fact at this time we we

according to zillow year over year housing inventory is up 72% with condominiums taking the biggest hitwants to ride in an elevator with it's just not safe mary beth lamont to put her 2.8 million dollar condo on the market in may but no offer yet pre covid i think we would have had a much better chance absolutely along with high and home prices apartment rents have plunged to historic lows. >>realtor dot com reports the average price for a studio last month was just over $2000 down 31% compared to the same time last year. one-bedrooms down by 24%. >>well cloudy also reports that the rental plunges the biggest drop of anywhere in the country. other news this morning boeing is closer to securing key approvals for its grounded 7.37 max jets to fly again. the european aviation agency, a safety agency confirmed it's close to giving those jets. the all clear but the final approval will stay still take more than a month. nearly 407 37 max airplanes were grounded worldwide after that 2018 crash in indonesia, then a 20 19 crash in ethiopia. investigators say flight control software pushed the no