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tv   Squawk Alley  CNBC  March 17, 2021 11:00am-12:00pm EDT

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♪ >> happy wednesday i'm jon fortt with carl quintanilla and deirdre bosa huge hour ahead. rob chapek breaks some news with us first on cnbc in the second hatch of the hour. later, uber makes a big concession on its drivers in the uk and coming up, a look inside the world's first ever nft house but we'll begin with antitrust carl >> yeah, indeed. four more states joining that lawsuit against google and its dominant ad business this morning. our next guest has been all over this and said yesterday with a piece that detwitter was abuzz
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about how washington fumbled the future, how regulators blew their opportunity to break up google in the last decade. the author, thanks for joining us >> thanks for having me. >> talk about when you believe that window was, to what degree that window is now closed and what regulators missed in the midst of all that. >> yeah. the federal trade commission is one of two federal agencies with antitrust had a big investigation into google started in 2011, closed in 2013. it looked at a lot of google's power over both online search and also mobile search they opted to close that investigation without taking any action against google. some of those same contracts that are now the subject of the justice department's suit filed last year, these are contracts between google and people like apple or other smartphone makers
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that make google search the default on smartphones those are subject to an antitrust suit now they could have been subject to an antitrust suit eight years ago when the ftc looked at them, but they didn't do anything. >> i was going to say, is this more a comment on google's ability to manage its way through regulatory risk, or is this about ftc keystone kops >> i think you could say it's maybe a little bit of both i mean, there's always been a lot of talk about how, you know, the obama administration was more friendly towards the silicon valley companies they definitely had a close relationship with google there were more people in the administration from google than probably any other one company they definitely had an ear in washington unlike a lot of the other companies. one thing we found in our investigation is facebook and amazon were among the companies that complained to the ftc about google's conduct and how it was impacting their business
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back in 2012, facebook was just starting out, that was the year it had its ipo amazon has already sort of stayed out of washington, so neither of them really have the same level of savvy that google did. and then the other thing is the ftc definitely wasn't as familiar with this type of technology we went through in our story some of the sort of pretty obvious today errors they made about how technology was moving. for example, they thought people would keep searching, primarily searching for things on their computers. they didn't particularly understand the importance of mobile devices as a new avenue that people were going to be carrying about with them and doing most of their searches on. >> things were amazing the one i looked was they thought that amazon and microsoft would present sort of rival operating systems, which we know didn't happen. but leah, i wonder, does it really mat thter that the ftc ad doj are still not equipped to
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regulate big tech? what we've seen in the last few months is states take these matters into their own hands i'm thinking about arizona and the ruling on the app store and payments that feels quicker and more significant than anything that we've really seen in terms of action, at least, out of those federal agencies >> yeah. some of the legislation that's going on in states is particularly interesting because that could take effect immediately. there are a lot of antitrust suits now pending. there's the one from the justice department i mentioned, two other ones by state attorneys general, one in texas, the other in d.c same with facebook, an ftc and state attorneys general lawsuit pending. those things take money. texas had to go to the legislature to ask them for $54 million to actually prosecute this the fact that the federal regulators are underfunded, vastly underfunded, means this money is coming from already, you know, cash-strapped states
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>> leah, i really enjoyed the piece. something that gave me pause was this idea in there that if things had gone differently i think gary said this, if they stopped that in its tracks the world would be a different place. i'm not sure i buy that, because this was about google search right now we're dealing with facebook's social dominance on a whole different level. apple's power, the app store, none of that stuff was really -- really shares the core issues what the ftc was looking at with google maybe it would have weakened google but it probably would have strengthened amazon, facebook, apple, et cetera, right? >> well, so the point he was trying to make and a lot of people who are sort of in the anti-monopoly movement now is that if the ftc had taken this action back in 2012 or 2013, it might have emboldened them to take further action against facebook's acquisitions, against
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some of the things apple and amazon have done they've had a lot of acquisitions over the last decade the ftc is now turning this big study into acquisition by all the tech giants in the past decade and there are like 500 of them that were never notified to the agencies because the way the laws are, these were smaller acquisitions they didn't have to look at. i think their point was if we had had regulators who were more emboldened, possibly the entire technology landscape could be different. >> finally, leah, they say personnel is policy. we've had tim woo on the show over the years, lena kahn has made headlines lately. do you believe we are entering a new chapter now with some of these recent biden hires >> i think that the biden administration is definitely pointing in that direction you know, the first two people they have announces do far with tim woo and lena kahn. we still have the big ones outstanding. we don't have an ftc chair
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we don't have an assistant attorney general for antitrust at the justice department. so that will really give us an idea of how they're looking. but they're certainly trying to at least give the impression right now they are very interested in anti-monopoly progressive views on antitrust and might be more willing to do that than perhaps the biden administration -- obama administration was >> that will be a big story for us in the coming months and years. hopefully we'll cover it with your help. thank you. >> thank you so much guys, as you may have heard, uber making a major decision on uk drivers, reclassifying them as workers as such, they get certain benefits, but they're still not full employees shares this morning, they are down, last time i checked, more than 4%. markets are trying to figure out what this means for that broader labored regulatory scrutiny it is facing around the world in a bofa note this morning,
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estimating the cost increase will be similar to that in california after prop 22 was passed and that similarly gave drivers some ben if i wants but stopped short of making them employees in that sense, this can be seen as a victory for uber, uber saying it can keep its adjusted ebitda profitability target this year but at the same time, jon, this is an important test do drivers in the uk and california want this middle ground, have benefits like they saw in prop 22, or will they regret this decision and wish to be full employees later on >> either way, it seems like from uber's perspective, the added costs are contained, right? workers, not employees, certain benefits, but not certainly some of the most expensive benefits this seems like what uber was in a way arguing for all along, let's give certain benefits for worker protection but don't make them full employees. >> yeah, that's exactly it
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that's why they paint this as a victory. sorry, carl. go ahead >> i'll be curious to get dara back on the show because the last time we were on with him, i think it was many the wake of drizzling and we were trying to prod him saying, look, we can see the economy reopening and you can see that on the ride metrics. he wouldn't go there yet but that conversation would be different if we had it today >> yeah. we've asked him to come on "squawk alley," eventually tech check. we'll see if he does there are still so many questions. two battles, california and uk, those are important ones, but far from clear, jon, what happens in many other markets that it's in as we see, sort of the stocks, both lyft and uber, have soared in the last year at the moment, lyft outperforming uber perhaps because it has less of those battles on those hands focussed in north america >> let's shift our focus now coming up, disney ceo rob chapek
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have to keep in mind >> yeah. a lot of them are just learning about it this morning. the collectors buying nfts with cryptocurrency gains could face large tax bills this year for deals most of them thought were tax-free it's all because of an irs rule around using cryptocurrencies to buy any good or service. say you bought $100 worth back in 2018 and it's worth about $1,800 today if you use that $1,800 to buy an nft, you would owe a capital gains tax on the $17 gain as part of the purchase as soon as you bought the nft you would owe a capital gains tax of $340. if you held the crypto less than a year, you could owe as much as $600 in taxes. now, the reason for all of this is that the irs considers crypto a capital asset, not a currency. if you exchange crypto for any good or service, you recognize a capital gain or loss
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most people buying nfts are using their aapprppreciated bitn or ether they're not reporting the taxes to the irs because they don't have the price history for every buyer. the tax does not apply to non-american overseas buyers, which means the buyer of that $69 million nft that sold at christie's last week, he's a resident of singapore so doesn't owe tax. but he pays taxes on the proceed because he was the artist and seller taxes could be as high as $20 million depending on what his fees were to the auction partners but, guys, as jon put it so well last week, i think he can still afford to buy a lot more hype buttons. back to you. >> that's right. maybe a few laughs i wonder if he knows about this, if he thought about this, and sold anyway. it will be interesting to ask him. robert, thank you. we'll stick with nfts because
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our next guest is behind the first-ever piece of crypto, crypto real estate we have one. the world's only nft house, artist krista kim joins us now here on "squawk alley. krista, thanks for being with us what are your thoughts on sort of this nft tax that many have been unaware of? is this a conversation in your circles when you're thinking about selling pieces of nfts as art? >> basically right now i think the smart thing to do is not to cash out and to keep your funds in crypto and, you know, just wait till it's better tied to plan an exit strategy and have a proper tax plan in place with tax lawyers or professionals >> right but many people actually buying nfts like the buyer of people's digital work, are able to do so because they've seen incredible gains in cryptocurrency. so if they can't use their
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crypto, they shouldn't cash out, does that really limit the market here? >> no. i believe that a lot of people are basically, you know, hedging their values and investments in crypto right now right now the bull market is just starting, so basically people are waiting for that bull market to ride out i think that the bear market will be where people start to exit that's probably going to happen near the end of the year so we'll have a strong nft market this year, this summer, especially that's my prediction >> krista, tell us about mars house and the design involved and where you see the purchase of this sort of 3d blueprint, you know, artistic experience going next >> so for me, mars house basically is a representation of the next generation of nft art right now, a lot of the art that's currently available on platforms, it's a very limited
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parameter of how you can present the art. it's presented basically as a digital file, a beautiful drawing or a video on your screen but, you know, my intention was to look beyond that. nfts can go into an augmented reality 3d asset, you know, space. for me, i actually foresee that we will be living in an augmented reality lifestyle within a very short period there are already, you know, an app called super world that has completely interfaced the entire globe and is selling virtual real estate that's transposed on top of real, you know, real else tate so you can buy times square virtually and then you can actually put digital assets, buy digital assets, and place them there if you wanted to in super world. so this is where the future of nfts are going to progress
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so mars house, knowing this and having this in mind, i wanted to create the first digital house that could actually be experienced as an imersive experience in augmented reality, and you can actually eventually put it in your actual, you know, real pace through augmented reality experience, because within a year, apple has announced they're going to launch their apple glasses i would say within a couple years we're all going to be living in an augmented lifestyle and we'll be decorating our environments and our personal space, our fashion, just like tattoos. people express themselves with tattoos. it's an art form people will also express themselves with digital accoutrements, assets, and decorative pieces and collectibles, fashion, accessories. yeah >> i think that's interesting. i think it's interesting i also think it ties into what all of our kids are doing, whether it's roadblocks or mine
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craft. they're sort of being steeped in this augmented lifestyle that you talk about i do wonder, though, you talk about some big players who are in this space potentially, apples and facebooks and googles. do you expect them to move in we they are new product or communications that would accelerate this? and who might be that player >> a player in the augmented reality space? of course. i believe that all brands and all corporations have a very unique opportunity to market and to brand in augmented reality. particularly for nvlts the future nfts matched with art has a strong value proposition because, you know, it does appreciate in value over time because it's a social asset. so basically, what luxury brands are going to have a major challenge with, because i believe as a woman looking at a luxury handbag, am i going to pay $15,000 for this handbag
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i'd rather by bitcoin. now, they'll be competing with cryptocurrency investments what they have to offer then is a luxury handbag that is in collaboration with an artist and create a one of one or limited edition special artwork piece tied to an nft, sold as an nft, offering the physical handbag but as unique artwork. that will create an appreciating asset as a luxury good now, that's where you're going to see a lot of interesting changes. >> right perhaps a new investment class we may be seeing >> absolutely. >> krista kim, thank you so much, creator of the mars house. we look forward to seeing whaems you produce. carl >> fascinating, guys thank you. >> keep your eyes on amat today, down just a touch. bofa reiterates it as a buy, price target $140. more "squawk alley" in the moment
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welcome back to "squawk alley. it's been one of the biggest challenges during the pandemic and greatest opportunities in our lifetime, education and its future march of last year the pandemic caused more than 1.6 billion students to be out of school in 161 countries. that's close to 80% of the world's enrolled it's been a year since the start of the pandemic in the u.s over the next few days we'll look at what the future holds for educating the next generation, the future workforce. we'll speak with visionaries in the space to answer the important questions -- how will digital learning adapt as we return to in-person instruction? what will the learning models of the future look like how can the technologies we've adopted in the last year address the skills gap we'll speak with the education pl platform pearson
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welcome back i'm rahel solomon.
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atlanta t law enforcement officials say it's too early to know if the death of eight people at a massage parlor were hate crimes. robert aaron long has admitted to the shootings but says they were not racially motivated. a judge has dismissed two jurors who had been seated for the trial of derek chauvin both said the $27 million settlement paid to the family by the city had influenced their opinions poland goes into a lockdown on saturday with new cases hitting a high and the health minister warns that daily infections could go up another 20% by next week. tiger woods recovering after home after spending near lay month in the hospital following that car crash woods has take on the twitter to thank his doctors and his fans good to see hets ba is back hom. >> thank you disney this morning
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announcing news on cnbc. our julia boorstin joins us with di disney's ceo julia? >> thanks so much. i'm joined by bop chapek coming to us live from disneyland in anaheim, california. the first live shot out of disneyland in over a year. bob, thanks for talking to us this morning >> it's my pleasure, julia >> so, bob, the big question on everyone's mind is when will the disneyland parks in southern california open? they've been closed for over a year do you have a date >> well, we do after a year of being closed, i am absolutely thrilled to say that we're going to be welcoming our guests on april 30th back to disneyland it's been a long, long time since we've been able to create magic for our guests and put our cast members back to work and help the associated businesses around the anaheim area that greatly depend on disneyland for their livelihoods.
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it's going to be a great opportunity i think for us to bring that magic back to everybody involved >> absolutely, bob april 30th you heard it here first. you must be busy, getting ready for that what kind of capacity constraints are you anticipating at that time i know the state of california said it could be anywhere between 15% capacity to 35% capacity >> well, we take our guidance from the state of california in terms of how many folks that we can actually welcome back into the park right now we're starting with what they say is 15% of fire code, which actually we would never put fire code number of folks in the park because we're very concerned about making sure that we not only operate in a responsible way but give everybody a really great experience when they're here so we'll be able to operate at a point that i think we can maintain that guest experience, have everyone have a wonderful time, operate responsibly, yet at the same time operate in a way that's going to be accretive
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for our shareholders we have said from the beginning we will open no park unless we can do so responsibly and do so in a way that actually makes sure that we can cover the variable cost of operating the park and certainly disneyland fits that like walt disney world and all of our parks around the worrell. >> . >> so you mentioned the idea of operating profitably and the plan is to open the park even with capacity constraints at a profitable level >> yes you know,our hurdle, if you will, is to make sure we cover our variable costs so we can make a positive contribution and we set out to do that from day one, the first time we opened a park in the post covid world. and we've been able to do that successfully around the world. disneyland will be no exception. we've gotten pretty good at operating in a covid world
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>> bob, tell us about the demand you're seeing. you have the downtown disney mall area open in anaheim where you are now. what kind of demand are you seeing there also in florida and in your other parks around the world, as more people start to get vaccines and feel comfortable getting out and about? >> we've seen the enthusiasm, the craving for people to return to our parks around the world. we've been operating at walt disney world for about nine months, and there certainly is no shortage of demand. i think, you know, as people become vaccinated, they become a little bit more confident in the fact that they can travel and, you know, stay covid free. that is showing up in our intent to visit our parks and i think it also, though, julia, speaks to the fact that our guests and consumers trust disney to do the right thing and we've certainly proven that we can do so responsibly whether it's, you know, temperature
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checks, masks, social distancing, improved hygiene around the parks so i think we've been able to prove whether you're talking about the nba bubble or our tremendous success we've had in orlando and all around the world that we can do this, we can welcome our guests back in a responsible way. we're thrilled after an entire year we can bring disneyland back online. >> you mentioned the masks and some of these enforcements around social distancing as people get more comfortable it maybe much harder to get people to keep their masks on and follow those rules how are you going to be able to enforce that as people feel more confident behaving the way they used to before covid >> we have found that despite, you know, some of the challenges of wearing masks, you know, on a consistent basis, inside our parks and our restaurants and our retail shops, that our guests have been very, very cooperative overall.
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you know, our cast members are constantly watching to make sure people do. we give them a gentle nudge when -- if we see a mask that's dropped below the nose, for example, or somebody doesn't have one on. and by and large, our guests have been extraordinarily compliant with our guidelines. we'll continue to ask our guests to wear masks for everyone's health and safety. >> the one part of your business that's still closed right now is the cruise ship division tell us what's going on, when you expect to be able to get those cruises started again. >> well, we hope that by the fall we'll be operating our cruise line again. again, under some very rigorous health and safety standards, but we anticipate that we'll be getting some positive news from the cdc in the upcoming months that will enable us to do that obviously, our cruise guests, as much as anybody, have real pent-up demand our forward bookings are very,
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very positive, and people want to get back to the magic and maybe the ultimate expression of disney magic is spending three, four, five, seven days on one of our disney cruise ships and being immersed in that cruise ship hopefully by the fall we'll be back in business on our cruise lines. >> interesting i'm sure a lot depends on those covid numbers. shifting gears to the streaming business, you recently announced that disney plus surpassed 100 million subscribers. i thought it was interesting that you noted that over half of those people are families that don't have kids. so not the traditional core disney demographic of what we think of looking ahead, where will your next $100 million come from? more families without kids or with kids? who will it be >> well, the demand and the appeal for disney plus has really been universal.
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we have seen higher numbers than expected of families, but we've also seen a real surprise in terms of the number of families or households without kids necessarily that have subscribed to disney plus tacross the world it's a four-quadrant business for us we think the future growth will come domestically and internationally. families with kids and families without kids at the same time. so it's really that four-quadrant appeal across the globe that's driven our success. >> internationally, you recently launched a new star content within the disney plus app, more general content. do you think that that launch will see more competition with the likes of an hbo max as it expands internationally and makes it more of a general entertainment play rather than focusing on the family content >> yeah. i would say it's a universal entertainment play our whole business is steeped in our core franchises -- pixar,
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disney, marvel, lucas -- across the board. that's certainly our core. but when you add in the localized content that makes sense for our star business and international territories plus the general entertainment that you've -- you mentioned, it really embellishes our service to provide either through a soft bundle as we do in some markets around the world or as a six-brand title that star is, say, for example, in europe. it give us the ability to appeal to that four-quadrant marketplace to ensure people have something to watch no matter what mood they're in. >> and so who do you think is your main competition, both here in the u.s. and abroad >> well, you know, when you talk about competition, i think, you know, disney sort of stands by itself i think we've got such broad content, such deep affinity that
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we don't really frankly -- we're obviously conscious of competition, but at the same time, we're really proud of what we've got, and i think we're unique in the marketplace. there's no one like disney and i think the cadence of the new content that we've got, because everything is driven by our new content that we're putting on our service, the storytelling, the new ideas, i mean, take a look at wanda vision, how fresh that is. it's part of the marvel cinematic universe, but it's unique it's different and it's something that frankly i think is the envy of the rest of the industry. so, you know, while we're certainly aware of competition, we don't really dwell on it. we spend more time figuring out what our guests want and making sure we deliver the content and the storytelling that our guests want around the world. >> so, bob, we couldn't talk about the content on disney plus without addressing the fact that you are putting first-run theatrical movies on there such as "riot", "last dragon.
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"riot" had a multded debut as about half theelters were closed but it was on sale for disney plus for subscribers can you give us a sense of how many of those subscribers decided to opt in and pay that extra amount to watch the movie when it was also in theaters >> well, we're not going to share the xamt exact numbers, bt we're pleased with our access strategy playing out two different lenses one through the lens of sort of a post-covid world where people are just becoming comfortable with reopening of theaters and going into a theater to watch a movie. that's one dynamic the much more important and long-lasting dynamic is how has consumer behavior changed as catalyzed by the covid pandemic in terms of people wanting the ability to have the flexibility to watch movies wherever they want, how they want, and when they want. and i think that's one of the
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things that our three-pronged strategy does for us and for our guests, gives them the ability to watch movies in theaters when they become comfortable to do so if they so choose, gives them the ability to choose between watching in the theater or in our premiere access on disney plus at the same time, or have movies go direct to the service. so we're about flexibility we're about giving consumers the choice so they can make the difference and ultimately how they want to view movies and how they want to consume the magic of disney is really going to be up to them we want to give them those choices. >> it will be very interesting to see how things evolve once all the theaters are open again. just a final question on sports. obviously, espn plus is a huge piece of your portfolio and you also have the espn linear networks give us the update on your nfl negotiations obviously, a very big one. and where do you see sports rights in general fitting into
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the digital piece of this, espn plus as well as the linear networks >> well, there's two requirements for us to do deals on rights for sports one is going to be there has to be accretive for our shareholders we'll only do deals that make sense for our shareholders but at the same time, the other requirement is that we are going to be very conscious of our ability to have the flexibility to put things on espn plus and whatever services come after espn plus in the direct-to-consumer world we have to have the ability to do that. we want to be ahead of the consumer, not behind the consumer as the consumer makes the decision to evolve from say a linear or more broadcast orientation in terms of how they consume and they move more aggressively towards espn plus or direct-to-consumer platforms, we want to be able to be there for them those are the requirements for us to do deals
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we're optimistic we can get rights deals and work with our partners in the sports leagues to go ahead and do that. >> great digital certainly is front and center across the company. we are looking forward to details on that nfl deal congratulations on setting that reopening date for disneyland for those southern california parents of april 30th. thanks for joining us today, bob chapek from anaheim, california. >> thanks, julia appreciate it. >> thanks for that, julia. a lot of ground covered. keep your eye on shares of lyft this morning webbush is adding the stock and raising the price target to $85, currently just shy of $65. more "squawk alley" ahead.
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qualifies. or call the number on your screen. coventry direct, redefining insurance. cnbc exclusively learning morgan stanley is becoming the first major u.s. bank to offer clients access to bitcoin funds. two on offer are from galaxy digital, a crypto firm a third is a joint effort from asset manager fs investments and bitcoin company nydig. morgan stanley is allowing wealthier clients access only considering it acceptable for people with an aggressive risk
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tolerance who have at least $2 million in assets held by the firm for more on the story, head to cnbc.com back in just a minute. in the meantime, keep your eyes on amazon baird says the stock is undervalued. i think the target is $4,000 yeah that's the pras tice rgtaet ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back.
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welcome back we're one year into the pandemic in the u.s we're looking at what the future holds for educating the next generation andy bird is the ceo of learning company pearson. andy, it's a great time to talk about this. about this we're heading in to spring thinking about the fall, all sorts of plans are being made. you took over as ceo of pearson in october of 2020 and it's a company we think of as text books and in person tests. how do you transform as to what you see as the future of education. >> hi. thank you for the opportunity to join you morning i think the great opportunity for pearson has really been accelerated by the pandemic and it changed it. in terms of changing consumer
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behavior that's been accelerated during the pandemic. the ability for us to move from the physical textbook to a much more rich immersive digital first learning set of experiences, utilizing the technology that pearson has been investing in for a period of time our ability also to reach the consumer directly through our digital products >> so, what's hard about that, though, as a parent i've got a 10-year-old and 12-year-old at home the schools hasn't been used to embracing technology more of a bolt on. something if it's in the budget. sometimes the pta pays for it. depending on where in the country you are. what country you're in, i suppose. how are you able to strategize, therefore, on how to roll this out to schools in a way that allows the platform consistency to actually provide a good experience >> actually we've had great experience in that very field
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during the pandemic, the last couple of decades we've had very successful virtual learning business, the academy joined pearson saw 14% increase in enrollment that's an experience very different to some of the more immediate responses that we're taking as the pandemic rolled out, as you had, as you say, schools having to adapt to the new reality. we during the pandemic were able to offer our learning platform that is beneath the connections academy proposal to states, to school systems, and i think what you're starting to see is a greater understanding, a greater acceptance of the need, the needs of teachers, the way that courses and subjects are taught, and the digital tools that they need to enable a much more
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engaging interface between the faculty and the student. >> we've been talking a lot about kids here, but adults are some of the most important students in this equation as we look towards reskilling for the economy of the future, as companies increasingly invest in educating their workforces we have rachel carlton coming up later this week. in what ways has the past year shifted the way companies think about investing in this technology, and where do you see that headed? >> yeah. i see it as a great opportunity for pearson and that's why we've recently announced we're setting up a dedicated workforce skills division within the company where we can apply all of the skills and the assets that we historically applied to the educational space into the corporate world. in many ways corporations are becoming the universities of the
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future, and the ability for them and the need for them to not only reskill and upskill their existing employee base, but during the on boarding process to provide their employees skills such as english language learning for those multi-national companies is becoming increasingly important and we believe we have a very significant role to play in that sort of learning for life and concept. >> all right well, it's a subject that is so important to getting the country, the workforce, really the world ready for the future andy bird, ceo of pearson, thank you. >> thank you watch space today. t truist is positioned to capture
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space. more "squawk alley" after isth quick break. stay with us if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ]
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shots fired over at intel. hiring justin long information face of the mac in a new campaign is this a taste how the marketing wars will evolve >> i got to say apple as new laptops are really good at a whole lot of things. so to the extent that this intel justin long thing focuses in on gaming which is very profitable for intel is good but they need to amp up their game if they are
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going survive long term. >> i don't know who would have thought intel and not microsoft, back in their face or the mac guy was not the nice one i love that they are having fun. john you implied, backwards looking. maybe they need an intel guy or gal to sort of push this forward. who would that be? i don't know maybe they just need to update the whole rivalry. >> carl, it's notable this is just on the youtube channel for now. intel's troops and their core base of people buying powerhouse intel pcs kind of need that little shot in arm there's a lot of work to do over there particularly when it comes to chips that are both long lasting when it comes to power, and pack a punch pchl. yep. interesting side note. we need a lot of chips
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if morgan stanley is right, new report "case for crypto in a diversified portfolio" pretty big news out of morgan stanley they suggest investors get educated as we pay more attention to bitcoin yields, 10 year, 1.67 with the fed decision a couple of hours away let's get to that. it is a big story. welcome to the "halftime report". this hour the surge in yields and your money and what the rise in rates mean for stocks the nasdaq gets hit again this hour we will discuss with it our investment committee let's go to the wall i'll show you exactly what's going on now yields at the high of the day for the ten year, 1.68 nasdaq leading back to the loss of the day down 173 points. was down about 198 or so

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