a 20% pop for meta as mark zuckerberg pivots to efficiency. best day since 2013. of three major earnings reports tonight apple, amazon, and alphabet coming this afternoon, dee. >> it will be a big one. welcome to "techcheck. we'll cover it all mixed day on the street.

zuckerberg finally started to focus on the cost side they put out $5 billion in the next year. about reels doing better he also started to focus on artificial intelligence as a product rather than the meta metaverse. they are starting to talk about bringing into the bottom line much earlier people thought zuckerberg lost his way and spending like a drunker sailor he has a good long-term upside the investments are making sense and they are controlling with the costs along the way. >> i almost feel like you offended drunken sailors, david. who knows? we'll see. you seem to like out of favor beat up stocks one of your themes and paypal would fall into that another name you own listen, drunken sailors would have made fun of paypal's performance last year, david. >> they should have. the stock is down from 300 down 70% management started to focus on the cost side. they have a good product and market share they are finally running with profits in mind. from the $80 level, it has a 30% to 50% upside we think a lot of last year's biggest losers down to reasonable valuation and paypal d

but what that tells me is zuckerberg gets it, and that's important. >> so, gene, thanks for coming on so if we think that zuckerberg has found religion, which is a reasonable interpretation, what is it worth? how do you think about valuing meta >> so if you factor in the 18% move hereinafter hours and what is likely going to happen to earnings, because earnings numbers will be coming up by 17% based on the $5 billion and lower expenses they are talking about for 2023 if you put it all together it will be trading about 15 times 2023 it has had a huge move it has doubled it is still trading on a relatively reasonable valuation relative to google is at 19 times, microsoft is at 29 times. so when you put all of that together, karen, you know, i think that this -- that a lot of faang -- i'm not saying we're in the clear for 2023 here, but it is probably going to gravitate to that low to high 20s number, and that would kind of imply if you just do the rough math around just a multiple expansion, that can imply kind of 30% upside from where we are at >> how do you extrapolate this to others,

mark zuckerberg really trying to hit home on the point of efficiency.ll he's talking about how they have entered a different days of the company, they grew so quickly for the first 18 years, it's very hard to crank on efficiency while your growing that quickly. also talk about where they are growing in the longer term. it's toward a metaverse vision. they got their first victory. the ftc, a federal judge has denied the ftc request to block meta's plan to buy within unlimited. let's get to our guest who joins us from washington. extraordinary the fact that getting pushback in this way. many thought this was her trying to get aggressive and it's been denied. guest: that was surprising. the ftc can still appeal. have until probably next week to decide that. the judge gave them a one-week extension on blocking the deal until then and has called a hearing next tuesday. we will have more than about whether they will keep blocking to push this deal -- pushing to block this deal. she came into her role saying that the agency needs to be more aggressive, block m

a 20% pop for meta as mark zuckerberg pivots to efficiency. best day since 2013. the nasdaq surged 2% yesterday another 2% today all ahead of three major earnings reports tonight apple, amazon, and alphabet coming this afternoon, dee. >> it will be a big one. welcome to "techcheck. we'll cover it all mixed day on the street. the dow is falling but the nasdaq ripping it certainly is. better than expected results from meta. improved sentiment around tech shares the nasdaq is up nearly 3% on the s&p 500 up about 1.5%. the dow industrials under water by a little bit. that move higher coming on the back of the fed-fueled rally yesterday as the fed started to acknowledge inflation is slowing. nasdaq is up 4.5% this week. consumer discretionary, those are the sectors leading. energy and materials are lagging. >> we'll start with the efficiency mep talty at meta today. some people make new year's resolutions every january claiming this is their year but meta seems to mean it this time. stock surging, on pace for best day in a decade. the year ago the stock saw its worst d

i can distinctly mark zuckerberg -- distantly remember mark zuckerberg laughing at the idea we wouldn. it's not that much less than $20 per month and i get all of these services? i am not mad at it. ed: let's jump ahead to timing. you were at facebook 2014 to 2019. why is this happening now? this is a response from meta to the legs of twitter and tiktok, etc. laura: there are several reasons. there is the bought issue -- bot issue. they are focused on verifying identity, and this is a response and acknowledging the fact we had been paying for these services with our personal data. this is another way to do it, and this is something they've been trying to solve for a long time in terms of propping up some customer service. there are a lot of things going on. i don't see this as a huge cash cow for facebook. certainly not for quite a while, so i don't think that is the reason. i think they are trying to get back in the good graces of folks, and i think this is a way of them providing tangible services so people can see benefit from it, and they will feel as if there is a big exchange.

we have baseline revenues for the health network in zuckerberg general. they are 59 and 31 million over the two year budget. the health network revenues because many of our medical waivers include support for public hospital systems of which zuckerberg san francisco general is centerpiece to that because it's a public hospital system and there's small amounts that are drawn down by other areas outside of the acute care hospital, primarily, within primarily care and ambulatory care. the change in notation is a bit of a nod to the fact that some of the revenues are really for the public hospital system. but the bulk of these revenues are related to san francisco general. second, we have an expansion of the c for service model. this is worth net of about $37 million over the two-year budget. this is a change that is taking place in the current year where we're switching from a portion of our members from a capitated model which includes the loss of out of network cost as a part of that capitate. we're being paid directly for the services being provided inpat

alix: you set up a solid scenario does zuckerberg care?es about a lot less than most ceos do and he has a real problem of being so confident in his own judgment that he doesn't really listen even to his lieutenants. certainly to critics on the outside which are thousands, many well-informed. he still is totally obsessed with the metaverse. i think that needs to change. i don't think investors have gotten the message that they don't care about that as much as he does. he has a self-righteous business leader, no question. guy: what do advertisers want here? david: advertisers really like the company as it operates historically. they don't really want the metaverse. they want ads they continue to perform. that is one thing that meta -- facebook deliver and still deliver. it has been impaired by apple's change of rules where it is harder for them to follow people around the internet. this target that they can deliver for advertisers is fantasticks. the problem is the economy is slowing and advertisers don't want to spend as much. alix: brian w

it's obviously something that mark zuckerberg feels he might be behind on. he's diving in. who was one of the original founders of open a.i., he's out of it now, he wants to start his own. he's apparently hired the google guy who was doing their a.i. engineering. what do you think of all of this, first, as it becomes this arms race. >> so i think that the most amazing part is that users are starting to use them, right? and this is where the disruption is -- just imagine that if there is a user, they used to go to google and search for stuff and they have got the promotion being done by google, right now we're going into chatgpt, and they're not going to google anymore. so, therefore, it presents a threat for google and their core business. and that threat is actually becoming very attractive for everyone else, right? so everyone is going into, you know, an arm race that are a basically saying, wait a minute, let's make shower that we get a say here. and i think at the end of the day this is about where the users are going and not where the technology is going. liz: yeah. le

this is a dull mark zuckerberg and 2023. there were some investors pushing hard and wanted to see a pullback in terms of capital spending. maybe we will see more job cut. they are talking about the middle-management that still perhaps is under a lot of focus in terms of the effectiveness of having that. really, ed, this looks like a fascinating overall call. i wondering if the share price reaction holds into tomorrow. ed: we will have to wait and see. analysts might sleep on it. caroline: that does it for this additional bloomberg technology. ed: don't forget a lot to wrap up on our podcast. check it out on spotify, i heart or apple podcast. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees.

david: so, if mark zuckerberg were here, would you say, "don't worry about us. a big competition to you" or would you say, "we're coming after you"? shouzi: i think for us, david, we are more focused on ourselves. i think over the long run, the biggest competitor that we have, as cliche as it's going to sound, is going to be ourselves. we have a mission, which is to inspire creativity and to bring joy, and we believe that our most important focus is to focus on delivering that mission. david: but let me ask you this. most of the large chinese technology companies, let's say alibaba, baidu, tencent, they have gigantic market values and they're very prominent in china. not as prominent outside of china as, obviously, in china and certainly not that prominent in the united states. tiktok, by contrast, is not in china, but it's gigantic outside of china, the united states, and everywhere. what did tiktok do that enabled a chinese-based company, parent company, at least, to do so well outside of china? shouzi: we think it's challenging to build a global company in ge

the announcement today by meta ceo mark zuckerberg on its new subscription service. and we've got some wet weather heading your way this week. not as much as originally thought. cold meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their new mini-van! yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here, so her son can get set up there and start his own financial journey. that's because these moms all have chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours. get exclusive offers on select new volvo models. contact your volvo retailer to learn more. weeks ago, blinking helped aid workers and load boxes of relief supplies. the u. s has sent a search and rescue team medical supplies and equipment. and today, blinken announced another $100 million in aid to help the region. but as of now, the united states has contributed $185 million of assistance. but we will look to see. lincoln was schedule

mark zuckerberg must be relieved after this rally.s in the mix for metta in the earnings and what zuckerberg had to say? tom: ava lost half of the value of their shares so massive a jump yesterday but it still only a sign of relief from arc zuckerberg. what was in the mix? they repeatedly hammered the message that it's the year of efficiency. we sought more than 10,000 job cuts and they hinted more on the way so be aware if you are a middle manager. at the same time there is a growing platform in terms of users. it's remarkable because it's been around for -- well over a decade. francine: we talk about technology stocks day in and day out. very cautious. are there packets where we will see growth? tom: the biggest bet for risk and reward is ai. with mehta it will be recommendation ai. they are trying to make reels as addictive and sticky as tiktok. yet to be seen whether that will be true. mark said he's interested in generative ai. that is coming out with songs and text. he said he's interested in that as well. tom: thank you very mu

and so, i mean, that was always zuckerberg's goal. but no, for that, for the designers and engineers who were working on it, i think they i think they really did. i think they really were naive. i mean, maybe i'm just buying, you know, line from them. but they really thought that connecting people was like a good in and i think there was there's like a part in my chapter where i talk about how at google and facebook the idea was that you can do good and make money at the same time there's no conflict it's all win win and i think some of them really believed i just had other thing, which is that you mentioned that they considered upvoting and downvote ing. and i remember like from that area, digg and reddit and that was huge. and i would have thought back then that that would have been the thing they would have kind of come to dominate the way the like button has. so did anybody kind of tell you or have you thought about why are voting and downvoting seemed like it would become the dominant thing is kind of receded. yeah and it goes ba

not a chance part of the reason i'm in this company is because i believe in mark zuckerberg. i love founder led businesses and ultimately it's his decision he controls the business had he not gone in this direction, i have a choice i can sell my shares and i can move on to companies that i think are pointed more in the right direction. but far from doing that, what i've seen out of this company doubles my belief in why you want to be behind founder led companies, because they can move quicker when the leader acts for me it was never a choice around trying to shake up the board or anything else it was really about trying to send a message not only to meta but, frankly, to reflect the voice of all silicon valley. we talked about this on the all-in pod last fall all of silicon valley had gotten really intoxicated by zero interest rates unfortunately, that meant the cycle time on invention, on productivity, it's a well kept -- it's a well-known secret in silicon valley whether it's google or amazon or meta getting new products in the market slowed down it didn't accelerate i love

$40 billion, what would you want to buy >> if you were mark zuckerberg. >> if you're mark zuckerberger you want for $40 billion, fun game to play what with yould you buy >> that's a highly -- >> i would have to give that one a bit of -- what could facebook buy that would make sense right now? i mean, i'll tell you what i thought they might want to buy, and what drove the metaverse, something like roblox, maybe that gets you certain things you don't have. >> not twitter. >> no. not twitter. pinterest? >> if snap busted -- >> no. i mean, you might argue that takes a competitor out but facebook doesn't need -- meta doesn't need to do that >> meta doesn't buy big companies. meta buys nascent companies and grows them that's what they're good at doing. i think if mark zuckerberg had $40 billion with no regulators, he would buy all these startups in ar, in ai, in -- >> he shouldn't, though. >> i wouldn't do that if i were him. i wouldn't buy a media company either right? >> that's your next -- $40 billion, one end or the other, you tell me. >> i'll come back to you with an answer i don't kn

our women's options clinic at zuckerberg san francisco general hospital lead by medical director dr. dry in conjunction with one of the other key leaders in the health department, dr. holly hammer, the director of ambulatory care has long been a leader insuring access to abortion for pregnant people in the bay area and nationally. the department remains committed to providing low cost low barrier abortion in other reproductive health services to all who rely on us for healthcare. dr. (inaudible) and colleagues stepped into the gap in recent months to insure safe and affordable abortion care is accessible to all. in san francisco support is always available for people who need help. even covering cost, including people traveling from out of state and people with limited or no insurance. california offers medi-cal coverage for abortion rights through the eligibility for pregnant women program. abortion providers also offer free or discounted services or payment plans and connect people to financial assistance including such barriers to healthcare and abortion care, lodging, meals, chil

saying this is the year of efficiency, mark zuckerberg finally said i'm paying attention. you want i'll give it to you. the rest of the tech ceos would do well to follow suit with the message. if the business results are not the same. >> one thing i want to touch on is the nasdaq down 1% in pre-market a lot of fear the fed will do more tightening. what does friday's jobs report mean for tech? the job total is three or four times higher than people expected mark >> the biggest headwind facing tech is the aggressively rising interest rates we went through several years of super easy money and a decade of easy money when you have rates go parabolic of zero to 4.5%, that is a massive change that change is not as massive going forward and the market is waiting for the interest rates growth to moderate and come back down all of that will be a shift from aggressive growth to moderating growth to eventual stabilization and decline. that is a fundamental positive for mega cap tech. particularly speculative tech. those who don't have earnings until several years out. those are valua

mark zuckerberg says meta has a team dedicated to building ai tools for instagram, messenger and whatsapp. he said the company is working on ai experiences with text, such as chat with messenger and whatsapp, experiences with images for things such as creative instagram filters, as well as video experiences. meta isn't new to the ai world, it introduced chat box back to messenger in 2016. and a self-driving taxi without a driver in los angeles within the next few weeks, the next step on the path to commercializing robo taxi service. initially only employees will be able to hail rides and they'll start service in santa monica before ramping up to other neighborhoods. the company has been allowed to start charging for services such as delivery in san francisco, guys. still don't know how i feel about driver-less, no person in there. >> makes me a little nervous. >> thanks, silvana. >>> 4:44 this morning, and we continue to discover black heritage, the series that we have. we take a look at why therapy has been a taboo among the black community and we'll talk with a counselor on h we canow >

mark zuckerberg is announcing a new team at meta working on a.i.p >>> and robinhood says its crypto unit is receiving a s subpoena. >>> and rupert murdoch say some endorsed false election claims. >>> and oaktree is looking for large equity takeovers the firm expects to offer loans of $500 million to leverage buyout groups. >>> the white house is giving government agencies 30 days to delete tiktok from federal devices to keep u.s. data out of beijing's reach. this is after the first hearing is being held today with competition with china and the united states. >>> as we head to break, we are celebrating black heritage with the cnbc teammates and contributors here is roz brewer >> we actually have more shared values than we really under st understand so many of us face trials and tribulations not only based on gender and race. what are those things that hold us back, but give us strength? outside my community, i love to have conversations of who we are at our core and share our lived experiences and find the commonalities and that race and gender has

mark zuckerberg confirmed a renewed focused on efficiency. tania is joining us to discuss the conversation i know you discussed many things the highlight for the week was the stock performance of meta. strong rebound >> absolutely. beyond any expectation i was talking about a new initiative at davos this year ahead of world cancer day which meta is a founding partner of. i asked about the reaction for the earnings for meta in the fourth quarter. >> 2022 was the critical year because we were able to demonstrate we didn't just have a plan, but the plan was working and we have proof points to show it especially around investment we have made in ai and machine learning they really starting to payoff we saw 20% more conversions than the prior year we are leaning in with advertisers to get efficient about the investment in the ai powered products this is an area that we are going to be doubling down on we're doubling down because we know growth and efficiency are the things that are top of mind for advertisers. you know, we are combining that with

zuckerberg says it will soon be available in other countries. matter is among a handful of tech giants now facing tougher rules governing their online content in the european union officials say it is due to their huge following and influence. tiktok apple twitter. google are among those impacted as part of the recently passed digital services act, applying to platforms with more than 45 million users. the classification mandates that companies do risk management and external and independent auditing. there are also required to share data with authorities and researchers and adopt a code of conduct. i already had a nice day today. temperatures warm. this is a live camera shot. obviously the bay bridge. we've got a beautiful night out there. a few clouds going to keep it a little warmer overnight. low is going to be above freezing. for the most part. these are the highs from today. and so 70 and fairfield 68. morgan hill high's tomorrow gonna be a little bit warmer. believe it or not, so it's still february. it's not feeling like it, but you know

the head of the american company metamark, banned in russia , zuckerberg announced the launch of paidrvices for facebook and instagram users, both social networks in our country are also recognized as extremist for subscribing, users will receive a blue checkmark next to their name. while this option is free, it is intended for public figures or companies. now it will become a privilege that will cost almost $ 12 per month when purchased on the website and in 15 applications on smartphones for getting blue. the checkboxes will require you to provide id , so zuckerberg is essentially copying the idea of ​​elon musk, who at the end of last year led a similar gathering on twitter according to experts. the meta has been going through tough times in the past year. she announced the dismissal of 11,000 employees. that is approximately 13% of the company's staff. this is the largest staff reduction in the history of the company. let me remind you the exchange rates for today dollar 74.75 euro 79 rubles. 61 kop. and that's all i have for now. roman alexander thank you, i’ll briefly talk about

mark zuckerberg more focused on certain things all of that driving a 26% rise in meta platform shares. remember, it lost 40% of its value over the year, but that trade playing out big in today's session. we'll see if that carries over into other parts of the tech trade later on today >> thank you, dom. facebook or meta telling us things aren't as bad as feared, or mark zuckerberg is getting better at changing the narrative for the naysayers. let's get into the next earnings tonight, with the action story and the trade in earnings exchange we'll start with apple they are coming off its worst year since 2008 with a 27% drop. shares are higher today, up around 150 again, and they have risen after tree of the last four reports steve kovak is live with the story on apple and kim forest is ceo of boca capital partners steve, what are you watching >> it's all about how bad was that quarter -- last quarter because of those production cuts we know happened in china? not enough people were able to get their iphones in time for that holiday quarter where they typically sell the most iphones. and

guest: -- ed: in one example, mark zuckerberg was asked about generative ai.is point was telling as it extends to the metaverse as well that he is equally as excited about those things, but in his words not the expense of efficiency. all told across 2023, meta cut its expectations by $5 billion. again it's the same story we got at the end of last year, long-term their tradition -- transitioning to the metaverse. but they have slowed down in terms of what they are spending to do that and reading behind the lines, they are looking to cut out some layers of middle-management. >> review surprised that after all of those concerns, facebook did manage to continue growing their user base? ed: surprised because if you think about facebook itself, it is a 20-year-old platform. i don't use facebook anymore, i use instagram a lot. that's kind of the story of this generation of social media user. it was a surprise because of its age, but the sales side is pointing to the product changes that meta has made for facebook and it seems to be gauging -- gaining traction. >> ed

this is a different tier. >> why am i giving mark zuckerberg money for this?reporter: first i'll say why. he is saying here that if you do spend this monthly fee of about $12, you'll get increased range on your facebook and instagram posts. >> okay. >> you'll get access to customer service. that's frustrating for a lot of people who haven't been paying for it. and they say you'll get more security. but i really like this thing you put up here behind you on what you get from spotify and netflix. all of the content you could possibly digest. by the way, those plans are for your entire family. so would one person pay that to be on instagram per month? >> you got two crusty old men talking about. what about someone born in the '80s or '90s? what do they think? >> reporter: a much more valid question than how we feel. we went out today and talked to people at san jose state. we talked to people downtown, young people, people in their teens and 20s, and i couldn't get a single person that i described this to, to say, yeah, i'll fork out the money because they're you

ah, mark zuckerberg could some of the 21st century coups be blamed on facebook. right? like i'm not trying to be sued for a liable or slander, so i won't lay these issues squarely at his feet, but nowadays regime change operations happen right before our very eyes on social media. scott ritter is joining us again. scott, thanks for sticking around. still want to talk about so in the 20th century, a post mortem of places like iran, 1953. she lay 1973, bolivia, 1980 iraq, 2001 libya 2011. and i believe future historians will refer to ukraine in 2014 as an example. all had so called us intervention in lieu of the term coo or regime change operation. what's been the result of us intervention for some of these places? well, 1st thing is, none of these places emerged better after the u. s. intervention than they were before us intervention. everything the united states touches when it comes to this kind of activity where there's a dies. there's not a single example where the united states went in and touched the country and said, i'm intervening to achieve a change in regimes

marc zuckerberg announcing this afternoon on facebook that meta is creating what he calls a new top levelup focused on building new experiences around generative ai he says short-term, they're focused on creative and expresive tools. long-term, he says they're developing ai personas and working on texts and images along with video this came after snap shares gained about 1% on the announcement that is starting to roll out a new ai chat bot for snapchat plus's 2.5 million paying subscribers it's called my ai and it's built on the latest gpt technology and it aims to help snapchat's paying subscribers trivia questions, poems or stories to send to their friends. this shows how snap plans to deploy it to its paying user base zuckerberg warned today there is foundational work to complete before getting into what he called really futuristic experiences. so there's definitely debate about how quickly some of these new tools should be rolled out for the public >> got to wonder if zuckerberg's thinking oh, i should have renamed the company ai i missed the chance. thank you. everybody's in on it, t

this quarter, and i asked zuckerberg, why now? i thought he gave a relatively convincing answer.acknowledging the business is slower. it clearly is slower but is more mature than in the past and he thinks he stumbled across efficiency gains ai applications can really help and it's starting to show up they're getting better conversions so the ad units are better you set that up and get that macro recovery sara, i don't know if that's next quarter or the end of the year but in that time frame you will get this re-acceleration of revenue growth i think can you buy the stock in advance of that. again, we're not at peak fundamentals i think we're far from it. there's a lot of upside, it's still a discount to the market >> you want to buy alphabet and amazon into earnings both should benefit from the advertising tail wind but both have potential challenges from microsoft on cloud >> i think the setup is so different, sara. the read-throughs from microsoft are more material, more germane than what you will hear from google or amazon meta did not tell you that the ad market is recovering

and apple, i think, was fine a lot of companies ran up so much because of zuckerberg, the zuckerbergt, and that was dumb i think the fact that apple's barely down is a sign that the analysts said, you know what we all knew china was bad. we all knew there were supply problems, so let's just move on. i think the two billion users is game changer so, i think apple probably will be down a little more than it is right now, but i thought apple was okay >> carl, you know, i did pick up some people citing this buy with prime button with third-party websites being a real positive, potentially, for amazon. obviously, it's early days, but the ability to go to a third party website, not on amazon, but hit a buy from prime they have to keep their goods warehoused with amazon but it's new for the company to be doing that. and there are those who believe -- there was a lot of growth in that category. >> in the ad business too. still close to, well, 23% growth, down from 30%, but still pretty strong. jim, i wonder whether or not you think the home builders run is coming to an end i don't know if yo

there's a ton more to unpack here, coming up next, can we blame qu on mark zuckerberg? we'll examine the role of social media in modern day cruise. we're going to discuss it when we return that type, the em out will be right back. i ah ah, to come to russian state to never outside us on the north landscape with within the 55 with us be the one else holes with we will ban in the european union, the kremlin media machine, the state on russia today. and archie spoke back to even our video agency, roughly all brand on youtube. and it says with for mark zuckerberg could some of the 21st century coups be blamed on facebook. right? like i'm not trying to be sued for a liable or slander, so i won't lay these issues squarely at his feet, but nowadays regime change operations happen right before our very eyes on social media. scott ritter is joining us again. scott, thanks for sticking around. i'll still lot to talk about. so in the 20th century, a post mortem of places like iran, 1953. she lay 1973 bolivia, 1980 iraq, 2001 libya 2011. and i believe future historians will refer t

and meta boosting the amount it pays for mark zuckerberg security. we've got jane king live in new york, the nasdaq with a look at both of those and other stories too. good morning, jane. >> hi, james. good morning. yes, meta platforms says it has increased the security allowance given to ceo and co-founder mark zuckerberg and his family by 4 million dollars to 14 million dollars on the company says the increased security is needed due to zuckerberg's high profile and recent job cuts at the company. well, twitter quietly rolled out its latest major policy change under a law this week becoming the first major social media platform to allow the advertising of cannabis products and u.s. companies do have to be pre authorized by twitter to advertise where they are licensed to promote their products online. and chipotle will launch a new spinoff restaurant called farm s a the menu will feature proteins, greens, grains and vegetables inspired by police food with integrity standards. no word on exactly when or where that first one will open and $20 for a fi

on meta, i would not expect mark zuckerberg is going to retreat from the meta verse dialogue i think it's going to remain a heavy investment year on the metaverse for 2023 and i think you'll have some proof points on product as you go out of '23 and into 2024. but turning to the core product, i think an improvement in the revenue trajectory, and little bit more dpiscipline around the core apps family, that is what's going to be the incremental driver and could be the incremental driver of the revenue trajectory that i highlighted earlier. >> interesting because we were just talking about this, eric, a desk note from a competitor suggesting that they trim the capex range by a couple billion, feels like 2 billion is needed for the stock to continue to work. you're not playing high odds on that >> i think there's some rationalization that could happen on the capex budget and the opex budget. i mean, as we track things globally, there are corporate real estate projects, data center projects that they're clearly either delaying or potentiallily canceling that we track. there could be a do

and as meta's zuckerberg goes heavy on a.i. and light on the metaverse, facebook whistleblower frances haughen is here on whether chatgpt might worsing the problem -- worsen the problem by letting artificial if intelligence take wheel. first, does in the optimism on the ticker you see right now especially with tech show that tech is back on track, sor should you be selling into in the rally right now? to the floor show is, longtime meta trader teddy weisberg, and scott redler, trader, joining us. teddy, you've been recommending meta through thick and thin. does this mean tech as a whole is back on track, or should investors be selling into this rally? >> i think we've gone from a near death experience not more than six months ago when the stock was trading at $88, and here we are today, it was actually up to 196 today. we've gone from way oversold perhaps to way overbought, maybe time to take a little money off the table. it's amazing what's happened in a matter of six months. it used to take the 50 years to see these kinds of

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senators express their concerns to mark zuckerberg over risks of developers having access to user datapers in countries characterized as high risk had access to significant amounts of sensitive user data. the senator said staff help meetings with company execs to see who could get the data and what facebook land to do about it with regards to protecting users'information. let's stick with meta-. the company is asking many of its managers and directors to transition to individual contributor jobs or leave the company as it tries to become more efficient. joining us as bloomberg's sarah who broke the story. the mass round of layoffs, i imagine there are a number of employees who have been waiting for the ax to drop in this case is very specific roles that mark zuckerberg seems to be going after. >> ever since those 13% cuts in november, the historic time for the company you have seen a number of other rounds of layoffs in your thinking what's coming next? are we having another round? amazon had another round there is a thinning of the ranks happening at meta as we speak. managers are get

for example, the wound keep leadership team from zuckerberg to assist in the wound care improvements at laguna. want to make sure you are aware of these important updates in terms of where we are and happy to try and answer any questions you might have. >> thank you so much for that thorough and concise report. it was very helpful to get the update on the search as well as mentioning that all this had such a impact on the staff and on the residents. thank you so much. is there any public comment on this item? >> i will check. i see one hand. folks on the line, we are on item 4, the laguna honda update, please press star 3 if you like to make a comment. i will unmute the person who has their hand up already. hi, caller, you are unmuted. >> i disappointed in seeing mr. pickens powerpoint presentation because it didn't mention anything about the number of milestones had reached 454 by my count, not 300 milestones he had been previously telling you. it would be interesting to know how many of the 460 milestones were scheduled for completion in february and since it is all most the end of

more investors on zuckerberg's efficiency.his is bloomberg. ♪ the first time you connected your website and your store was also the first time you realized... we can do anything. cheesecake cookies? [together] the chookie! manage all your sales from one place with a partner that always puts you first. godaddy. tools and support for every small business first. >> silicon valley has obviously failed to produce technology that is useful and useful for the world makes it a better place. we were the first reasonably large company to leave. now i'm happy to come back and say, on occasion, our position is the position to be surrounded again by people who disagree with me. guy: that was alex karp, he had an interesting conversation with ed ludlow. it is nearly 24 minutes past seven on the west coast. the sun is rising in san francisco. it is time for the start up on the tech stories in the bay area and beyond. i suspect everyone is talking about one story although they have many later to come. the market reaction that we are getting w

this week mark zuckerberg says it'll increase authenticity and security across methods platform. let's go a little deeper into this with bull street tech analysts dan, eyes are wet, bush security is always great to have you on the program. so i'll just try to work out what subscribers are actually going to get for this $11.99 a month. just verification. well look at 1st. that's what it seems. i think in terms of the authentication, the security, i think most users are really going to sort of shun that. i think the question is how many ultimately sign up? i mean we, they're in the well and it could be 3 percent on the high and 7 percent. but when you look at meta and facebook platform, they're facing headwinds. are looking for more modernization. they're falling twitter and must pass on the verification. there's always been, or it's at least felt that way they sort of trade off the users have been willing to participate and which is i get the product for free and you get my data. is that a model that is now changing? well i think that ultimately is how this whole business model ch