tv Squawk Alley CNBC June 15, 2016 11:00am-12:01pm EDT
squawk master talking about the brexit vote and his cues for inare vestors tomorrow on cnbc. good morning. it is 8:00 a.m. in facebook headquarters in menlo park, and 11: 11:00 a.m. in new york and "squawk alley" is live. ♪ ♪ taking the fun out of everything ♪ ♪ making it wrong when i think ♪ and welcome the "squawk
alley" and jon fortt is at post nine, and along with kayla tausche, and joining us is steve case. >> great to be with you, good morning. >> and let's talk politics, with hillary clinton widening the lead in the general election and a new poll gives her a 12-point lead over donald trump, 49-37, and 55% said they would never vote for trump compared to 33% for clinton and steve, we have been over the potential impact on the entrepreneurships and the vc and the changes because of immigration, and trade, and what is your read on the election overall right now? >> well, i was over at the capital this morning meeting with the senators and the democrats and the republicans to the ask about the innovation, and entrepreneurship which is front and center, and frankly so far, not front and scenter. a lot about the topics, but not how the nature of work is changing, and the next wave of
innovation is going to be requiring a different mindset from entrepreneurs and policy makers and regulators, and hopefully that is more of the focus as we move into the general election cycle in the coming months. >> is the so-called gig-economy getting an unfair wrap? >> well, no, because more people are doing something that nobody has been doing ten years ago. it is a flexibility economy, and giving flexibility to consumers and many like uber and handy are getting traction. it requires people to step back, and if more and more people are a part of that and the traditional way we think of work as full-time or part-time and now people work for different companies in the same day, and how you think about that and manage it. it is more common. and in the first wave of the internet, it is about risk and how you build it, and the second wave is about risk and how the mag it, and the third wave is policy risk, and can you figure
out the regulatory risks and can you partner with other companies and be successful in transportation, health care and other sectors that are ripe for disruption. and you have to focus on the future, and make sure that the entrepreneurs are ripe to drive that future. >> and along the lines, it looks like the presidential election is about turnout, and who turns out to vote against a candidate more than perhaps who they will vote for. do you anticipate based on what you see from hillary clinton and donald trump right now the presumptive nominees that you will be voting for a candidate that supports your third wave vision or against one who you think it is a detriment to the third wave vision? >> well, i try to stay out of the politics to focus on the po policy to work in a bipartisan way. >> and how do you do one without the other? >> and between now and november, i hope that the discussion is about the future from both hillary clinton and donald
trump. >> and donald trump has said some very strong things about immigration. i mean, a ban on muslims, a wall on the mexican border, and you have some stuff to work with there and hillary clinton has said some things about the gig economy, too, and you are seeing something, and what is your take? >> well, we need to refine the discussion, and immigration is not just a problem, but an opportunity, and we need to win what is the global battle for ta talent lent. and we need to move the discussion forward and the primary cycle has its oeb kin micks and as we are moving into the general e e lek shurngs i hope that both of to candidates e focus on where the country needs to go with innovation and entrepreneurship, and it implicates access to cash, and crowd funding, and the equal level playing field, and not just in silicon valley and new york has access to the capital, and how do you deal with the flexible economy? there are things that need attention, and people need to work with each other and not just past each o ther.
>> some of the talk, steve is about moving back from europe, and back from mexico, and without the fact that it is small businesses, and entrepreneurs that create the jobs from the ground-up, and a commitment from either candidate for job creation organically in this country? >> well, they are talking about the small business, but it is important to recognize as we talked about this morning with the senate, it is not just the small business sector or the big business, and fortune 500, but it is the high grow startups which is the source of the job creation and the economic growth, so yes, there needs to be small business in terms of the regulation, and lending and yes, maybe a big business and whether it is trade or tax issue or the global tax issues, but the issues of the entrepreneurial sector across many aspects of our lives and economy really are about things about access to talent, and whether it is education or immigration, and we need to view these as three different parts
of the business world, and have policies that make sense for each of them and putting the entrepreneurs and the innovators that are the job creators front and center because of what is happening in the third wave. >> move on to a different topic, mark andreessen says he sees the big tech coming, and he said quote, we see more e deals kind of in consideration and negotiation than we have in four years." he says that he also has a team on the inside of the firm to deal with preparedness, and so is this really what the next couple of years are going to be looking for? >> well, we will see more ipos and more m&a and i worked with the kopg fcongress for the jobs ramping up the sarbanes regulation, and we will see the accelerati acceleration, and a lot of the companies are doing quiet filings made possible by the jobs ak, and you will see a more
robust ipo market, and as mark said, a more robust m&a market, and that is the trend for the next two the three years. >> and steve, m&a, and the sort of the bummed out m&a looks like the 11 ki kings lane deal got b bath and beyond for a steal. i mean, you could have exits both ways, and they are very different types of exits. >> yes on the m&a, and there are exits where the companies need to sell, and the valuation s s lower than last round, but also, m&a with linkedin, it is a premium to the public valuation, whether it is public or private valuation, and depends on the strategy, and the product and the team, and the momentum. but i do believe that when we back the companies at revolution, we have a built to last mentality, and thinking of built to last, and building an iconic company that is
ultimately going to go public is a strategy. some companies may decide to sell because of the strategic or the financial reasons burk in general, the buys yas with aol how do you get public and then use the currency to do other things strategically including tuck-in acquisitions. and generally, we like to back the companies that are built to last and not built to flip, and then often thinking of the ipos and we are pleased to to see the ipo market strengthening and i think that it will continue to strengthen over the next couple of years. >> steve, we have 168 unicorns working with at this point, and how many of those are going to end up having to sell rather than going public? >> well, the market in the last couple of years and the late stage growth market has been frothy in places like silicon valley, and less so in the areas like detroit or pittsburgh where the cash valuations are lower there, and it is not the mania that is happening in places like silicon valley. no question, some down rounds
either in the private market or when the companies go public or the m&a transactions that are lower at valuations. at revolution, we are trying to stay out of that unicorns, but stay with the start-ups with the strategies that will bear fruit in the next couple of years. >> and to you think that money then starts to go other places like massachusetts and california and -- >> for sure. >> and more broadly, steve, you have seen the number of counties that are accounting for most of the start-up growth, and new business growth, and it is like 20 counties. >> yes, and lit broaden, and we will see that, and it will accelerate in the third wave as the rest will rise, and the regions are getting more access to the funding, and access is a way to venture lease more startup firms. you are seeing great success in baltimore with under armour, and
chipotle, and there is a $4 billion street there in provo, and virtual reality has magic leap in fort lauderdale in florida and not silicon valley or boston. so the whole strategy is why we have raised the $25 million growth fund is to invest in entrepreneurs in other places, and the valuations tend to be lower than if the companies were in san francisco or new york, and so it an arbitrage opportunity that we are capitalizing on, and we believe it is going tok is ale it is ra the wave in the next two years. >> fascinating. and now, the forecast is that facebook is going to be all video in the next year. we are seeing a decline in text, and if i have a guess it is video, video, video. and that comes with mark
zuckerberg after an appearance with jr. ri seinfeld. >> when i came out with facebook live when i came out, i did a couple of the facebook events and i was struck by how profound that platform is and how great the technology is doing, but also driving the audiences. so their focus on the video makes sense. it is going to continue to be a more important part of the business, but while individuvid more important, other media forms including text is going to be important as well. but they have done a great job of not just expanding from the social media platform to be a broader media platform, but embracing video, and facebook live is a platform to watch. >> and steve, when that facebook vp made that statement, was she overstating her case a little bit? i mean, they have got not only 360 video, but also 360 images putting into place, and people still need text to xhup kate
what is in the video, and sometimes you want to browse it, and you don't want the audio up, and still a real important case for instant articles and things like that five years from now on facebook? >> yes, probably, and that is what is said is that the momentum is, and the puck is and where the strategic focus s and that is accurate and makes sense, but to assume that all other forms of media is going to be disappearing is taking it too far. we have seen that with the internet evolving from the first wave to the second wave to the third wave and you are seeing the evolution, but even something that is very popular and e-mail is still used and these things ared ed things are what we are doing is too ambitious in replacing other forms is too much.
>> and in recent weeks, it has been about microsoft, and linkedin, and i would like to hear your perspective of whether the giants will swallow up some of the pressured companies that john was mentioning. >> well, there will be, and ak sell ration of the m&a, and linkedin is a big deal. it has a big platform been around for a while, and mic microsoft thought it was 50% premium on the public market valuation, so there are going to be some of of the larger companies that are established brands that are acquired by the bigger players and not just tech company, and some of the fortune 500 companies are realizing in the third wave that tech is important, and even in the automobile industry, and health care, education, energy, food, transportation, and some of the big players are also looking at the m&,a and it the smaller growing companies and not the bigger established companies,
but you will see a lot of m&a, and it is going to be shifting from entrants to more exits and that is the focus for us at revolution. >> one of the reasons for the folks the read your very good book. >> appreciate the plug. >> steve gates joining us from d.c. thank you. >> thank you. and now, the dow is up 73 point, and the nasdaq is up 21. and of course, we have the fed meeting wrapping this afternoon, and largely decided to stay pat on the interest rates, but we are see what happens in a couple of hours and oil is continuing the pullback on the disappointing inventory there, and hopefully after getting a warning letter from the fda for serious violations at a food preparation facility in massachusetts. and the stock of whole foods is down on that news. cisco is also are falling after being downgraded to neutral by goldman sachs. goldman is the biggest loser on
the dow, but the dow is of course still positive. carl? >> and when we come back, the drama at viacom continues. sumner redstone pays a visit to paramount. and also, the government officials are still trying to figure out how the russian hackers broke into the dnc. and we will talk to one of the stars of "veep" and our arrested development conversation with tony hale when squawk alley continues. incredible bladder protection in a pad this thin, i didn't...
...think it would work, but it does. it's called always discreet for bladder leaks, the super... ...absorbent core turns liquid to gel. i know i'm wearing it but no one else will. always discreet for bladder leaks. thank you. ordering chinese food is a very predictable experience. i order b14. i get b14.
no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business.
in media news this morning summer redstone is making appearances in viacom and paramount within the last week. he met at paramount with the studio chief brad grey and then at viacom he met with lez moon vez. and now joining us is ben silverman who is with promulgate i ing. >> thank you. >> and what are we supposed to be thinking of viacom when there are comments of redstone and shari and other players? >> well, it is unblooelievable p opera in our town, and everybody is obsessed constantly with ins and outs and i know that shari redstone's favorite show is "jane the virgin" which i produced for the c with, and i have had at great relationship with cbs and they have been an incredible partner, and i have
seen the amazing work of les mo moonvez, and he is a champion of the content that he produce, and he has been smart to the wait, and the showtime trade is extraordinary to me, so when i look there, i have to lean there. obviously on the viacom side, you are nervous as you look to the partner to supply to, and you are wondering if there is changes in the executives and new structures so i can see why there is concern, and i can't imagine going to work everyday and having to the read about your bosses like that. >> and when he visited paramount and met with les moonves he did not get out of the car and they came to him. does that mean anything to you? is >> i don't want to comment, but i would imagine the photo-op of him navigating out of the car might not have been worth the trouble, so i like the
description of that, and i would read into it everything that you would read into it. >> and the volume of the content that is not ad-supported whether on netflix, amazon, and it seems to have helped to create a different level of content, and i'm curious, how is this unbundling trend that the whether it is moving quickly or slowly that we are starting to see unfold, how is that going to be affecting the type of content that people are getting to consume? >> well, what is surprising to me is that the content has not evolved as much as you would think. there are one-hour and half-hour television shows and some more serialized or procedural and no laugh tracks, but there are still dramas, and game shows and comedy shows and reality shows and my thought is that i am a fascinated when the screenwriter and the code writer gets together, and you look at virtual reality, and that is going to be interesting, but it is shocking to me of how the formats of television produced has not changed so is much.
>> and are you going to get with the gamers in silicon valley? >> i am working closely with apple who is an amazing company and culturemaker, because when you brought up the advertising part of the equation, they are sitting on the fence looking n and part of the four giant company, and massive oligopoly, and are they holding onto the traditional system, because it enables their system to work so well, but if i'm an advertiser, i am looking at the digital delivery transform my content and how do i get close to the culture other than buying a $4 million ad at the super bowl, and it is tough when that culture is created elsewhere. >> when you are uk ttalking abo the screenwriters and the code writers and example of what that could look like? >> well, facebook individuvideo up on the show, and i'm long on where they can go and enter that world, especially around facebook live. i also look at oculus which is a
quiet killer inside of the organization, and they will put money behind okay culus are, bee it is defensible to wall street of technology-led versus funding content which they could potentially get punished for, and they are encouraging people in my community to work with the ok oculus teams now, and we have had subsequent meetings with them to talk about ways to bring our creativity and match it up with the code-led technology. >> are it is clear that facebook's m.o. is engagement, and clear what netflix wants the do, but what about apple? we see them toying with the time warner acquisition, and original series on apps, and where do we see apple entering the marketplace? >> from what i know as a yuser s well is how extraordinary the apple tv interface is and how dynamic apps as television can be. and thinking of the cnbc app on
apple, and how much deeper you can go into the story or further, and ki only watch your version of the show or the your version of the show, and your version of the show, so there is a lot of possible to unlock that. if you are looking at how little transformation there has been in the content space. who wants to be a millionaire democratized the show with the fastest finger, because anybody could participate and then "big brother" said you can watch any feed linear or long version, and then "american idol" said vote with the phone and choose the winner, and what is next in the world that is really two-way communicatio communication? >> what makes you long facebook video and versus the live? is it that it is activity to allow the audience to change the direction of the content in realtime? >> one of the most interesting thing s things is the convening factor that they have a large audience and you can't do content successfully without touching the culture, and that means that
the audience has to be there and if they want to turn on the lights of that audience, they have a tidal wave effect in how social works and how to impact and deliver on it. they also have around live this the opportunity of everyone who is streaming everything themselves across all of these verticals so that are riches in the niches, and what they can do with the local sports? weddings? engagements? births? it is really interesting and excite ing exciting to me, because they could become an organizing principle around everybody else's use of individuvideo. and maybe it is is going to be putting me out of business, but they need a professional overlook. >> and everybody has to get a lot better at the video. >> and we have been through the multiple live platforms, mere cat and facebook, and now this? >> you had to download and find mere cat, and download and put perry skoep into your system,
but facebook is there on the phone or the system is, and it is another feature running through the feed and the platform, but it is early and to invest, and they have to put the money behind it to build the professional overlay, and it does not feel yet that wall street rewards tech companies for investing in the content, and in fact, they punish them. so it is going to be interesting as they shift into that. >> and you have to come back. >> i want to come back, and i'm happy to be here. sfwlf still a lot of ground the cover. thank you, ben silverman. >> than you, carl. thank you, everybody. and the ceo tom freston will join us at 5:00 p.m. eastern time on cnbc. and we go to sue her rera for t late arest. >> this is going to concern the s.e.c. that sanche valvane has reaped money that was from health care securities. he al leblgedly did it by insider trading on tips that he received from a man named gordon johnson who worked at the fda
for a dozen years. mr. johnsonle allegedly remained in close contact with the colleagues at the fda and he did not reveal at that point allegedly that he also was consulting for hedge funds. and now, valvane does work for visiu m, the big hedge fund, and we will follow this, but back to you. >> thank you, sue. >> and larry summers is taking a shot at janet yellen in an op-ed post, and what does that mean ahead of the fed statement? we will be right back.
larry summers is take ing a shot at the fed and chair janet yellen in an op-ed for the "washington post" and steve l s liesman is live there ahead of the important fed statement, and steve, it is hardly the first time that larry summers has done it, but the argument is not getting softer? >> no, this is not the normal
summers' scream, because it is urging no less than a policy is reversal in the blog last night. and summers considered for the top fed spot, and he warned that the united states may be on a slow motion trajectory towards a japanese chronic deflationary or recessionary outcome, and he is urging the surge in the government spending, and he says that the fed should stop forecasting the rate hikes and aim to get the inflation target sooner which could mean or suggest more stimulus now. he says that quote now, that the fed is committed to accelerating growth, and avoiding a return to recession. this is not the fed's policy posture and watching the fed over the last year, there is a groundhog day aspect and you can see the groundhog day effect in the chart, because it is reversing repeatedly a year ago, and the fed hall forecasted 1.#% for 2016, and that is is drop and now it is below 1% for 2017, it is fallen from near 3% to now
below 2%, and adding it all up, and seven quarter rate hikes have been baked out. we will see if the fed is going to lower the rate again or if the fed chair takes summers' advice, and gets off of the we are going to hike or -- no, we won't, roller coaster. >> but some went as far to say that summers said that he put a fine point on it to avoid deflation. what do you see in that? >> well, if the data the break, and we are in the middle off what is a second-quarter rebound and if we come off of that, and the inflation fails to rise, summers is right, and we could be looking at a policy reversal if the data reverses. >> steve, you have a busy afternoon ahead, and we will talk to you soon. steve liesman for cnbc. >> and meanwhile, a day in the uk. and simon hobbs is here with that and the news across europe. >> you can see the stock markets are higher and we have broke anne five-day losing streak, but
it is worth noting the damage in the course of the five days. many markets, and individual markets are down 6, 7%, and banks in europe down some 10%, a and they have lost a quarter of the value so far this year. showing a chart of that if we can and then move on. i want to talk -- thank you very much -- and you can see tracking lower here, and the damage done as the brexit is coming to the fore, and moving the markets across not just in the uk of course. and you have seen the miners moving up, and the anglo's coal disposals and hb billiton had a $6 billion civil suit in brazil dismissed monday. and maybe that is a delayed reaction. and we are of course, one week one day from the brexit vote. and will the uk stay in the european union and today, sterling has come back from the recent weakness that it is
arguably not the eye of the storm. there was strong jobs data today, an unemployment falling to 11-year low of 5%, and that is of course, to to a certain extent perhaps reinvigorated the concerns of the long on interest rates if we get through the brexit vote, and meanwhile, a huge rout for george osborne voting to have the uk leave next thursday, and there is something in the region of the $42 billion black hole in public finances that he would fill effectively with the emergency budget, and slashing the budget spending and hiking the income tax, and inheritance tax, and 78% of the ruling party, and the conservative party said they would not vote for it, and the labour opposition is not voting for it either, and emotions are running very, very fine. and the leave campaign described the intervention as hysterical prophecy of doom.
back to you. >> thank you, simon hobbs. >> when we come back, behind the russian hack of the democratic national committee, and crowd strike is leading the investigation, the and the co-founder is going to join us live in a minute. [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
guns. his message was via twitter. and iran says that his remarks will be lighting it on fire with a nuclear deal and his comments are aimed at donald trump. >> and the prosthetic legs of oscar pris or theous were removed for a hearing in his sentencing period. and the pope said that ignoring the refugees makes us blind and deaf and unable to recognize the suffering of others. thank you, sue herera. >> in a stunning brief, russian hackers broke into the national
democratic committee's system, and stole research information on donald trump, and they access ed e-mails and chat traffic, but did not access voter or donor or financial information and joining us is the co-founder, and chief technology officer of cloud strike who uncovered the hackers, and it is great to have you on the show this morning. >> thank you for having me. >> the burning question on everybody's mind is what exactly did they want and what did they get? >> well, you had two separate intelligence agencies in the dnc network. one came in last summer, an actor called cozy bear affiliated with the internal security agency of russia that is led by vladimir putin who wanted to look at the communications systems, and they were on the e-mail servers and watching and monitoring, and then the e-mail tracker fancy bear which is the military intelligence community, they
went after the are research department of the dnc right after the opposition research on mr. trump. >> was this a fact-finding exercise? i mean, what exactly did they want this for, and how did you know that it was russian hackers and russian intelligence agencies? >> sure. one of the things that we are able to do with the technology is that we have cloud-based technology that the protects many machines across the world, and many fortune 500 companies use us, so we frequently encounter nation states and russia and china and other groups that we have seen before targeting military institution, and targeting governments and one of these actors actually targeted the white house and the state department last year, and so we were familiar with what they do and who they are going after. and in terms of, this on the mind is u.s. election, and every world leader wants to know what is mr. trump going to be likea and the foreign policy, and they
want to understand what the relationship with russia is going to be like, and anything that the dnc may have on his positions is helpful, but also anything negative in the files, the russians may want to use in the future should he be elected president. >> and dimitri, it is reported that they had access for over nearly a year, and i'm wondering if that is true, and if so, if there is any piece of information to which they were not able to get. >> well, the first group, the cozy bear group infiltrated the group last summer, and they were in there for almost a year, and the fancy bear group, they came in last april, and just as the republican primaries were wrapping up, when it became clear that mr. trump would be the nominee, that is when they targeted the dnc for the op research file. >> and you suspect spear phishing and the e-mails with the corrupt links is how they got into the dnc computers and was there a similar attempt on
the rnc and was the securityt better, and were there any attempts or infiltration on that side of the political spectrum? >> well, i don't know, because we are not working with the rnc and we would certainly love to help them. and dnc brought us in when they suspected a breach, and they knew that we were one of the hottest, and the fastest growing cyber security companies with a incredible team, and pioneering s cyber security intelligence, and they wanted to bring us in to see if they were breached within 24 hours, and we got on all of the systems, and determined it. it is certainly possible and not out of the question that they would go after the rnc as well, and look at the opposition research that they have on hillary clinton and anything else. >> or bernie sanders is the one they need the most intelligence on, right? >>el w at this point, it is probably not likely that he is going to be elected president, so they may not care much about him. >> and demetri, we are so familiarized with cyber attacks on corporations and points of sale for consumers, but do you
find that the cyber threat against the political system is escalating? >>le with, thereell, there is n that this is the traditional espionage that is now every foreign agency moving into cyber, and instead of spies and bribing people, and putting their own agents at risk, they can do it from the comfort of their offices in moscow to infiltrate the sites they need, and so we are living in the golden age of espionage in part because of what you can do with cyber. >> you make it feel like a good thing, but i know it is far from th that, and in any case, thank you, di e mee tri for putting context on the conversation. >> thank you for having me. >> thank you, from crowdstrike. and coming up, our conver aresation with one tof the star of "veep" and "arrested development" emmy-award winning actor tony hale is here. and rick san ttelli, what are y
watching today >>. >> i am watching the industrial utilization points, and we we will speak to that to some extent, but a sock in the drain a. that is pretty much going to describe one of the big issues that the fed is seeming to overlook. so come back after the break, and we will talk about why. i take prilosec otc each morning for my frequent heartburn
>> and plus a social giant sitdowns, a square off over facebook, and you don't want to miss that. and the decision to keep the chinese shares out of the emerging markets, and is index the right call for your money? we will see you in 15 minutes or so, jon. >> thank you. and now over to the santelli exchange with rick santelli. >> thank you. today, we had the industrial capacity utilization, and i'm usually frank as to the data and the traders and how important they the rank some of the datasets that i routinely cover when released in the mornings like jolts. jolts is powerful last week, but the traders don't pay attention to it, but suppose think janet yellen does. and the utilization is usually not top tier, but it is of note, and i will show you why.
starting last june, the black are the positive number, and we had positive numbers in july of '15 and in march and april of this year, but that is it. so, 9 of 12. 9 of 12 data points going backwards in time before today's release were negative. then add of course minus 0.4 today, and so it is not a good series of data points, and we could go through the utilization rates ash and they are not faring much better, and close to the six-year lows depending how far you take the decimal, and how many numbers past the decimal point. so when it come ts to the data,e all know that manufacturing, mining all of these have taken a little b bit of a hit, but the points are more micro, and of course, with hope that the federal reserve will at some point take a more macro view, and i discussed it with bob hilllard today, and we used the analogy of day trading versus buying in whole, and it is worse than that, and think of the
stabilization policy versus structural policy, and for f fit -- forfeit the notion that they tried to stabilize the market, and to that end they had a degree of success, but the strublg churl policies have not chang changed. so this is the quandary and ask any expert in any field with regard to the economy, the taxes, corporate tax, but regulations are high on the l t list. so let me get this straight. if we are assuming regulatory structural issues can change as the political landscape changes in november, the problem i see is that the sock in the drain meaning all of the liquidity and all of the stimulus is getting to where it is going to go, because the pipe is clogged, and it is clogged like things like regulatory policy, and the fed has said that many times that they are going to do what they didn't do, because congress
didn't do anything, and the damage they are doing, and hopefully the next congress or the next president will deal with the regulatory issues and maybe an easy fix, and clear the zone, and take the sock out of the drain, but the problem is that by going down the path of policy beyond stabilization, they have created the dynamic above and beyond what is where they belong, and they need reform, and so we will still be behind the eight-ball. i don't care what you about the economy or raising rates, but a comparison is going to pale by not questioning the negative rates, and maybe they won't explode tomorrow or next week or next quarter, but this the long term, it is going to be a turning point of the negative nature. jon fortt, next to you. >> we are bracing ourselves, rick. thank you. and now, up next, our conversation with the stars off "veep" and "arrested development" as tony hale will join us next on "squawk alley."
getting faster. huh? detecting threats faster, responding faster, recovering faster. when your security's built in not just bolted on, and you protect the data and not just the perimeter, you get faster. wow, speed kills. systems open to all, but closed to intruders. trusted by 8 of 10 of the world's largest banks. how's check it out. lights.? meeting configuration. blueprints. call hruska. we've gotta set up a meeting. sure. how do you spell that? abreu, albert, allen, anderson c, anderson r.... you know what? i'll just tell him myself. door. andrade... it's about time business communications caught up. call anyone in your network just by saying their name. call hruska. vonage. business grade. people friendly.
take a listen. >> we see the show and we say, i don't think that we're a is a tire. >> and the real life is the parody? >> yes, and the real life is the parody and what trump has said and if three years ago if they brought us that in a script we would have said, no, that is not believable enough, and nobody would have said this. >> and salena myer versus donald trump? >> a good power couple. >> would gary work for donald trump? >> he would be killed by donald. and i am u surprised that he has not been killed by salena, and he is meek and e emasculated so i don't know how it would work. and maybe, gary could bring some sensitive into trump's life, and he is an emp pathetic dude, so maybe some compassion. >> would gary work for hillary clinton? >> oh, yes. >> what would that be like? >> i don't know, i think that he might have a kinder environment than what salena has brought to the table on "veep."
>> what is that like working with netflix as opposed to traditional broadcasters? >> well, with hbo and netflix, i always ap preepreciate how handf they r and they have hired our creator and said, do what you do. that is the same with ted serandos with "arrested development" and they handed it to him and said, do what you do, and we are not getting in the w way. >> is that a culture change from the traditional broadcasting? >> not from my experience, but from a lot of people's experiences, because it tends to not be as hand's off as with the networks and stuff, and they are a little bit more involved and so with hbo and netflix, they are lishgs we hired you for this purpose, and we will let you do what you do best. >> and what about binge watching on both of the networks? >> there is the thing about b binge watching, i can't do it, because it is too much. because if it is a draw marks i would be in constant depression if i were in a heavy show.
>> you are in comedies. >> i could binge watch comedies, but i like the waiting a week, and the an tticipation of waiti a week to to see what is coming up. >> rl ka, i asked you that for you. >> it is a fascinating debate. >> and he is anti-and that sis the way i watch "veep" and to his point, because it is light. and i asked whether the current election right now is contribute ing to the success of "veep" and he joked about the satirical nature of what is happening in real life could actually be in some reviews, and in fact, the atlantic is writing up the new season saying that it is toned down a little bit or maybe the real life is so much crazier that, quote, in order nfor the show to be relevant, they have to get crazier or the real world will be leaving it behind. >> wow. the man works a lot, and my kids know him from the "angry birds" movie, and the "alvin and the chipmunks" movies, and he works both sides of the adult and
kids' comedy. >> and any actor who can call himself emasculated and ridiculous, and the big new york times' magazine article about gary and salena's demented relationship. >> i don't think that president myer would let him have a beer, so that is something that he can get away with in real life for su sure. >> and twitter shares are seeing a nice gain, and we will look at why in a minute. why do so many businesses rely on the us postal service? because when they ship with us, their business becomes our business. that's why we make more e-commerce deliveries to homes than anyone else in the country. here, there, everywhere. united states postal service priority: you
twitter is making a $70 million investment in sound cloud after previously wanting to buy the company two years ago. sound cloud allows users to upload and share audio shares. and the company is reportedly to be raising $70 million, and that is an unchange since 2014, and meanwhile, twitter is above $50 today for the first time since april and up 50% for the week, and you can guess as to why. >> yes, the speculation as to the ak wusition. i have to set the record right, because i said that twitter is like a frat party, and twitter is like a house party and i
said, why would anybody need one, and the by far sanest discussion happened on twitter. >> what is surprising? >> i am standing corrected. >> the people at twit ler be glad to hear that. >> and moderate gains, and the fed will have that in a couple of hours with the fed statement. we go over the scott wapner and the "halftime report." thank you, carl. welcome to the "halftime report" and this hour, fear the financials of europe to the home, and why this all him pornt sector continues to fall, and what it says about the overall market and where it can go from here. with us for the hour, josh brown, stephanie link and john and pete najarian, and also with us is one of the top