Good thursday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt, sarah eisen at post nine of the New York Stock Exchange joining us this morning Business Insider ceo henry joining us. We are awaiting President Trump expected to make comments on his new apprenticeship and workforce of tomorrow initiative that is rescheduled from yesterday. Also set to sign an executive order. Eamon javers with us from the white house. Do we know, eamon, whats inside this executive order what the president is set to say . Reporter yeah, we do, sarah. We dont know what the president is going to say here but this will be the first time to see him on camera today since he issued those tweets this morning about the reporting from the Washington Post that says he is under investigation for potential obstruction of justice by the special Counsel Robert Mueller. So well wait to see whether or not he addresses that. He was sarcastic and angry in his tone in the tweets this morning. Well see if we get some of that from the president today in terms of pushback or whether he sort of sticks to the knitting of this particular event in the white house. We expect that hes going to be signing this executive order let me give you a couple bullet points on what the order actually does. It allows companies, trade associations and unions to develop industry recognized apprenticeship guidelines. This idea of apprenticeship is one thats important to the president , important to the first daughter ivanka trump. Theyve been advocating for it with companies in meetings all year it directs the Labor Department to use the funding to promote apprenticeships, creates a task force to come up with ideas on apprenticeship and requires all federal agencies to review job Training Programs considering how to consolidate certain programs for increased accountability so theyre going to create a task force, theyre going to try to come up with some ideas and try to encourage companies to develop these Training Programs and apprenticeship programs. All part of work force week here at the white house those are the issues that this white house wants to focus on. But of course the mueller investigation, special counsel situation hanging very much over the head of this white house so well see if thats on the mind of the president here in a few moments, sara. Yeah, whether it overshadows Workforce Development week thanks, eamon. Henry, actually while the president did cancel his speech on this yesterday, the ceos did hold a working session with ivanka and reed. I got a chance to peek in on that a, who pays for it doesnt sound like they want to shell out additional federal money. So are Companies Going to adopt sort of german style pay for Vocational Training and hire workers directly after we only have about, what, half a million in this country so far well, this idea is a sound idea and certainly running a business very eager to hear what the president has to say, what the plan is, if there are tax breaks, if there are other incentives for putting together Training Programs where you do take folks and you retrain them or help train them in a particular field thats great we obviously do a lot of that. Most Major Companies do a lot of that but if we can increase that as a country, thats a great idea. Henry, there are some ideas that just need organization, just need somebody to say, okay, everybody get in a room and lets work out some standards and that makes things better there are some ideas that really need funding in order to work. What kind of an idea is apprenticeship is it simply a matter of getting everybody in the room to agree on certain standards or does the federal government need to kick in some money to really make this work . I think you could kick in money in the form of a tax break, ultimately. Just another incentive where you say, look, if you put this together, whatever the training is, if there are results ultimately we give you a tax break for that is probably a way to do it or you can pay directly. I think theres going to be much less eagerness for that. The white house pushes back against spending more money. They say the issue is not money, its accountability, carl. And really trying to streamline these programs and get companies onboard. Yeah. Look, we do part of the issue with the economy and the United States is our corporations are incredibly profitable relative to all history were not investing. And the reason were not investing is companies dont see the immediate return in part because so little money in the economy is going out in the form of wages the 90 of the country that actually spends the money. So anything you can do to encourage companies to invest in the future and training is one of those would be great. Its just, again, the devils in the details in terms of how they do it. With the longterm chart of labor share of gdp versus capital will prove that. This is something germany does extraordinarily well remains to be seen how much were willing to take lessons from trade partners where there are other political divisions between us. There are a lot of other things other countries do extraordinarily well that for whatever reason seem e nat ma seem to be a huge swau in the United States. So far seems incredibly tough to get it done here. And the economics i mean, you should look to germany on this one. We have 6 million job openings, the most ever since the data started tracking in 2001, eamon, and yet millions of people are dropping out of the labor force and that Participation Rate seems to go down germany has really done well with this when it comes to openings and keeping the rate high. Reporter its something that the Trump Administration has really been willing to focus on. But i want to bring you another headline that weve just gotten while weve been talking here. Since last night weve been sourcing this the Washington Post report to the the Washington Post reporting but now nbc news has a new piece of information now. They are confirming the Washington Post report nbc news saying a former Senior Intelligence official with knowledge of the discussions confirms that special Counsel Robert Mueller has requested interviews with the director of National IntelligenceDaniel Coates and National Security advisor chief Admiral Mike Rogers about their conversations with the president in an effort to investigate possible obstruction of justice so further confirmation of that story. That is you see some of the white house staffers gathered there now, whether or not the president addresses this issue but further confirmation of the story breaking in the Washington Post now confirming by nbc. Eamon, thank you for that dont go too far away. Well bring you the president when he comes to the lectern meanwhile, watching markets, cutting their losses by about half dows down 46. Got some fallout from the fed yesterday. Got a downgrade this morning henry, google putting some pressure on f. A. N. G. Stocks. Theres some question whether or not investors are nervous about the Washington Post report and what that might mean for the development. As cashin said a moment ago, if it becomes a full blown d. C. Obsession, what happens to the agenda then . Is it postponed or done away with look, the market has been remarkably resilient through this whole thing its been getting worse and worse and worse in terms of around the Trump Administration and the plans seem to be getting delayed, moving out into the future, yet every day we seem to go higher and here we are its not like were aoff all that much. J. P. Morgan said 10 of trades in any given day are actually people based on picking stocks based on fundamentals how much do you think that dynamic, whether the number is 10 or something else, has to do with how the market has been behaving over the past several months say election day . I think in general as we talked about for many years and someone reminded me on twitter the other day said, hey, youve been negative or bearish since 1800, you must feel ridiculous yeah, i couldnt feel like more of a moron, but we are extremely extended on valuation. And folks post Interest Rates and low so you can have a higher valuation, assuming Interest Rates never go up, we are priced to have very crappy returns for a very long time does it have to happen suddenly . Who knows. But i think youre seeing a lot of investors saying, look, we have to buy something. And when this part of the market gets a little expensive, then well go here and now we have a situation where so much of the market is expensive. Whereas you go back to 2000 when we had that peak, that was very concentrated in technology and average stocks were not that expensive. So, yes, people are picking out fundamentals, but Fund Managers have to be invested have to do it on a relative basis they cant say im going to sit this one out for a couple years. If were in for the commerce secretary by the way walking into your room there on the right side of your screen. If were in for this decade long secular change, aging demographics, automation, suppressed inflation, that could go on for a long time. People cant afford to be in bonds. Be in bond proxies or growth of some kind. People will say that right up until the time the market drops 15 and suddenly theyll say, oh, im happy with bonds im not making much there but at least im not losing my shirt all the time that psychology will change fast. So bottom line, which makes you more nervous right now about the overall market, f. A. N. G. Or the fed . Interesting i think overall on a relative basis technologys actually okay everything is expensive. But when you have stocks trading at 25 times earnings, could they compress to 17 absolutely apple, huge company. We have this big iphone launch coming up. Could you see multiple expansion that drives it higher . I would think so on the other hand, you cant look at it and say, my goodness, its absurdly cheap. How about tim cooks comments in business week this morning on the cover of the magazine, talking about augmented reality, essentially saying we are in thein infancy of this Technology Ikea using it to show furniture is model t of what eventually will be the auto business. Weve been in the infancy for a very long time because it is simply not progressing into a huge commercial opportunity. That is a good example they showed off some very cool stuff at their conference recently be interesting to see what people could do with that. Does that translate quickly into revenue and Earnings Growth for apple . Not clear. This is driven by the iphone 8 or whatever it is going to be called thats what the stock is trading on. I got a closer look at the technology a couple days ago and my impression was if you want to use it for things like home renovation to see if a couch will fit in a particular room, it needs to be accurate at least down to the inch, halfinch, and right now its not quite there its a little bit too approximate. But the tools are on the table for developers to mess with it and go back to apple and say, heres what wed like and tweaks youd have to make and were probably a couple cycles ios cycles away from getting that level of precision baked into the operating system where, you know, ikea, house, using it to sell furniture at high end services. We continue to watch for the president. Obviously about ten minutes late or so. Expected to give some remarks on the apprenticeship, a word which the other day he said he appreciates and we all know why. Thats no accident. And the workforce of tomorrow initiatives sign an executive order later on today well go to the Investiture Ceremony for Neil Gorsuch Spicer seemed to suggest he would love to go to the congressional baseball game, but getting security pinned down for that event on this time tabtabl little tight. Yeah, he also mentioned scalise at the hospital last night. So clearly that remains a focus and i think a lot of people will be covering the game tonight as we wait to hear the comments on apprenticeship and the workforce, which is an important issue for our economy, henry, one question i had as it relates to this water discussion here is can it work for technology when i think apprenticeships, i think manufacturing, construction, those are the two big sort of heavy industries where we have seen it work in this country but marc benioff has been a leader, hes been at a lot of these meetings in washington about this issue from salesforce can these Tech Companies, can silicon valley, the job creators where people actually want to be pick this up absolutely. Again, this comes down to what sort of incentives you put in place for that, but there is a real shortage of engineers who are skilled in the kind of programming and development that these Companies Need and a lot of universities are churning out folks that have different skill sets, so to have the companies themselves say, look, we will put together a training program, we have the best folks in the world, we will teach you to do what we need u you to do, that would be incredibly valuable, not just for the companies themselves but for the country and training people. Yep well take a quick break here. Come back to the roosevelt room. E thpridt lesenwel sehim on the other side. Dows down 50. Dont go away. Anything. Even a coupe soup. [woman] so beautiful. [man] beautiful just like you. [woman] oh, why thank you. [burke] and we covered it, november sixth, twothousandnine. Talk to farmers. We know a thing or two because weve seen a thing or two. We are farmers. Bumpadum, bumbumbumbum live shot of the roosevelt room in washington, d. C. At the white house. The president expected to give some remarks this morning on the workforce of tomorrow initiatives, sign an executive order. Of course when he comes to the lectern well take you there live in the meantime a cnbc exclusive. Apple working to turn iphones into a onestop shop for all of your medical information Christina Farr had the scoop shes at one market this morning. Christina, this goes way beyond tracking your heart rate and your steps. Youre absolutely right imagine having everything you could possibly want, your labs, your detailed prescription information on your iphone and being able to share it with any doctor, caregiver, Family Member that you want. Thats the vision that apples been laying out very quietly of course in the recent months. Christina, it seems that the line that apple has to walk here is how much of this data do they actually want to store themselves versus how much data they want to just live on the iphone and give people the ability to share it. Because they run into some regulatory challenges if theyre keeping our health data in their cloud, do they not youre absolutely right about that, carl and i think where were going to see apple going is really making steps towards privacy and security theyve talked about health data in the past. My i suspect that were looking at health data exclusively on the device. Christina, we have to cut you off because we are seeing President Trump take the podium. Lets listen hello everybody thank you. Good morning thank you for all being here before beginning today, id like to take a moment to again send our thoughts and prayers to my friend and the friend of most of us in this room, Steve Scalise and his great family as he continues his very brave fight its been much more difficult than people even thought at the time hes in some trouble hes a great fighter and hes going to be okay we hope i visited steve and his family at the hospital last night, and i reassured them that the entire country is pulling for them, praying for them and that we are here for them every single step of the way americas hearts, and we mean this in the truest sense, sends its love a lot of hearts in this country, great hearts, and theyre all sending their love and support to the scalise family. And steve in his own way may have brought some unity to our longdivided country weve had a very divided country for many years and i have a feeling that steve has made a great sacrifice, but there could be some unity being brought to our country lets hope so. While at the hospital, i also visited with special agent crystal griner terrific young woman, of the Capitol Police, and her family crystal is one of the two Capitol Police officers who saved so many lives through her heroism along with special agent david bailey they ran right into the fire they ran right into those guns and the bullets. And they saved a lot of lives. America salutes both of their courage. They have great, great courage we all salute them we also salute the men and women of the Alexandria Police fire and rescue, and all of the First Responders the timing and the speed and the professionalism was incredible they performed with bravery and with skill finally, our heartfelt prayers go out to matt mika, who was badly wounded in the assault to matts family, anything you need, we are here for you. Hopefully matt will be okay. And these difficult hours its more important than ever to help each other, care for each other and remind each other that we are all united by our love of our great and beautiful country. Were joined today by secretary acosta, secretary ross and administrator mcmann as we prepare to make a historic announcement to trade america for the jobs of the future we have a lot of Companies Moving into this country you see the Unemployment Rate is at a very, very low level. Job enthusiasm and manufacturing, business enthusiasm is at record levels, never been higher. A lot of good numbers are coming out, including almost 4 trillion in gain to the stock markets since the election 4 trillion. We just signed a big deal yesterday for hundreds of millions of dollars worth of equipment and military equipment going to be made in this country, in our country, for other countries. Weve got it going i have to make sure the people are here and theyre going to be well trained so i want to thank my daughter ivanka and her leadership. She has worked so hard on this she understands how important it is were training people to have great jobs and high paying jobs. And were here today to celebrate the dignity of work. Really a good term, dignity of work, and a greatness of the American Worker, which ive been celebrating for a long time. Probably wouldnt be here if it werent for the American Worker. And the American Worker sees whats happening in michigan and in ohio and a lot of places that weve had a huge impact on just in a short period of time that ive been here and this administration has been involved we have a lot of Companies Moving in, a lot of plants are going to be built. A lot of plants are being expanded and big ones are going to be announced very soon. Were going to hear some very big names i cant tell you about now. We want to get them signed on the dotted line. We dont want to talk too quickly. Its called sign them on the dotted line, right in just a few moments ill be signing an executive order to expand apprenticeships and Vocational Training to help all americans find a rewarding career, earn a great living and support themselves and their families and love going to work in the morning we will be removing federal restrictions that have prevented Many Industries from creating apprenticeship programs. We have regulations on top of regulations. And in history nobody has gotten rid of so many regulations as the Trump Administration and thats one of the reasons that you see the jobs and the companies all kicking in so strongly i think some very good numbers are going to be announced by the way in the very near future. As to gdp. So were empowering these companies, these unions, industry groups, federal agencies to go out and create new apprenticeships for millions of our citizens. Apprenticeships place students into great jobs without the crippling debt of traditional Fouryear College degrees. Instead, apprentices earn while they learn, which is an expression were using earn while you learn were joined today by apprentices who know firsthand how these programs can bring new hope and new opportunities were also joined by some of the countrys great governors. And i appreciate them very, very much for being here. We just had a meeting in the cabinet room charles robelle is here with us from wisconsin, where i just left actually yesterday. I was with Governor Walker charles is a threetime combat veteran who bravely served our nation, highly respected after charles came back from the war, he like so many other americans faced very tough Economic Times charles began taking machine tool operation courses from a technical college. He immediately excelled. He was really, really good at it, they say thats what they say i havent checked. Where is charles i think im doing okay. Come here charles, they tell me, i havent checked it i want to check you out, all right . But he immediately excelled. And by the end of his yearlong apprenticeship charles will be making more than 60,000 a year and going up a lot higher than that and he loves what he does. I think you really love it, right . Yeah. Loves it. Charles, we thank you for your service to our country, both in the military and in exactly what youre doing right now, which is so important and we congratulate you on this exciting new career. And youre going to have some great future thank you, charles appreciate it. [ applause ] each of the apprentices here today has their own story and their own dreams thats what they are, dreams apprenticeships teach striving americans the skills they need to operate incredible machines and some of these machines are so intricate, so powerful, and really the word is they are incredible this is not the old days this is new and computerized and complicated and you really have to know what youre doing. But they create Amazing Products and to construct skyscrapers that touch the clouds, i mean, you look at the equipment today and just go back ten years ago and twenty years ago, its from a different world, from a different planet its incredible. I just met with the governors from many of the states to discuss how we can work with them to expand apprenticeships and the Apprentice Programs. Im also delighted to be here with ceos of Major Companies who support our apprenticeship initiatives. And we had a tremendous number of the biggest ceos in the world here yesterday, we talked about this also. And theyre fully behind it. Including our effort to help millions of talented Young American women thrive and flourish in our economy, we are thrilled as well to have with us today congressman bobby scott and congresswoman virginia fox who care so deeply about this effort thank you. [ applause ] the strength of our nation will be determined by the ability of us to keep jobs in america and were going to keep them in america. Youre not going to have Companies Fleeing like in the past theres going to be a big price to pay for companies that want to leave, fire their workers, build a plant outside of this country and think theyre going to sell their product right back into the United States going to be a big price to pay but we want to keep jobs in america. And we want to train people and hire American Workers to fill those jobs and thats exactly what were doing. And were being were really doing a job of it. And i just want to thank all of our secretaries and everybody involved in the process. Not only will our apprentices transform their lives, but they will also transform our lives in the truest sense todays apprentices will construct the roads and bridges that move our citizens they will bend the metal and steel that shape our cities. And they will pioneer the new technology that drives our commerce but as we train the next generation of americans to do their jobs, all of us here today have to do our jobs. We have to join forces, join hands and join together to restore the American Dream for all of our people. And one of the parts of the American Dream is were going to come down very, very hard, and we already have, youve seen whats going on on the border, on this massive drug problem that we have in the United States and frankly that other countries have also. And were coming down very, very hard on it and if we dont, its called shame on us. So everybody thats worked so hard on this program and everybody in this room, including the reporters, god bless you, God Bless America and lets go out and lets do a really terrific job with the Apprentice Program thank you very much. Thank you very much. Appreciate it. [ applause ] come on, gather around. Gather around. This is a big one. [ applause ] [ applause ] thank you very much, everybody. President donald trump signing an executive order relating to creating more apprenticeships in this country, help close the skills gap and get more americans working in highly skilled industries, flanked there by some real life apprentices, some governors, his daughter ivanka and a few of his cabinet secretaries wilbur ross and secretary acosta of the Labor Department our eamon javers is with us. Also what struck me, eamon, the president continued his message of unity building upon what he said yesterday at the white house in the wake of that terrible tragedy in alexandria reporter yeah, thats right, sara a somber tone there from the president in terms of the shooting yesterday of congressman Steve Scalise and others at that congressional baseball practice. He also gave us a sort of grim update on scalises condition saying hes going through something thats very tough right now. Its tougher than they thought and hes in some trouble but he says that we hope scalise will recover that seems to indicate that the president knows something about scalises condition that is just not very encouraging at this point. So that was a grim moment there. But for the rest of the comments, the president striking an upbeat tone in terms of the u. S. Economy saying how well things are going, how low the Unemployment Rate is and how much better they could be going if the administration is able to succeed in pushing for these apprenticeship programs. And then we saw him sit down and sign that executive order creating a task force designed to develop some ideas on apprenticeship and directing the department of labor to consider ideas that are coming in from the private sector on how to encourage apprenticeships as well so a sort of mixed tones on the different subjects there from the president. And then you saw him at the end not take a question from the assembled press corps there asking about whether or not he believes he is currently under investigation by the special counsel, carl. So the president just simply avoiding that question for now. Also suggesting that some very good gdp numbers may be coming in the near future. Some of those comments brought us close to session highs. Dows trimmed its losses down to 24, and s p down about 8 well take a short break here. Thank you very much, eamon javers, at the White House Well talk more about what the president said and what the afternoon session may hold for usheweomrit ck wn ce ghba whoooo. Youre searching for something. Like the perfect deal. On the perfect hotel. So wouldnt it be perfect if there was a single site where you could find the right hotel for you at the best price . There is. Because tripadvisor now compares prices from over 200 booking sites. To save you up to 30 . On the hotel you want. Trust this birds words. Tripadvisor. The latest reviews. The lowest prices. Stocks are lower a day after the fed meeting, of course that rate hike and the plan to slim the balance sheet. Our senior economics reporter Steve Liesman walked us through all of that yesterday, talks more about the Market Reaction today. Hey, steve. More fun a fed reporter cant have bond yields fairly steady after the announcement many took us a bit more hawkish than expected the fed looked through weakness in the inflation data and made three important policy moves first hiked points by a quarter point to a new range of 1 to 1. 25 . The third quarterpoint hike in months and second forecasts an additional hike this year and additional three hikes next year third announced detailed plan to unwind its 4. 5 trillion balance sheet. Future markets not quite onboard with the third hike yet. The probability is set now at just 40 for that hike by december on a separate issue, heres how fed chair yellen responded to the question of whether she would stay on after her term expires in january. What ive said about my own situation is that i fully intend to serve out my term as chair which ends in early february i have not had conversations with the president about future plans. Heres what respondents to our cnbc survey about whether or not the president would reappoint yellen, 62 say no that is down from the 82 back in december with an increase in the dontknows after the president in an interview with the wall street journal, i believe, held out the possibility of it. Who would replace her . Heres our leading candidates, call it the fed chair derby here 24 kevin warsh, hes pulled ahead by seven points compared to january survey. John taylor with 20 , hes down a bit there, gary cohn, new entrant to the race, 20 and glen hubbard steady around 8 guys, yellen said she understood the white house working hard on filling three currently vacant spots on the fed board of governors, and we dont know, guys, how much hard work is being done yet looking for that next fed chair, jon. All right, thank you. Steve liesman. I sat down with softbanks ron fisher yesterday hes the founder of softbank capital. We covered everything from fiber to the vision fund heres what he had to say on investing in that fund take a listen. Youre saying ilt restricts Capital Investment if youre tying those two together in certain areas it does restrict i dont think its a blanket, you know, to restrict. It doesnt but i think one has to look at the problems based on what are the requirements in particular areas to get that Capital Investment made . And whats best solution, is it fiber, is it encouraging the Cable Companies to open up their broadband. In long term is it satellite which can create, you know, the same kind of bandwidth. Guys, this is a big moment last night actually, what ron fisher was talking about there was the idea that title 2 regulation, which a lot of people conflate with Net Neutrality actually a job killer for Middle America when you talk about the idea of attracting tech jobs out there. Broadband fiber is like the new waterway thats going to make an area a possible seed bed for tech investment. And hes saying if you over regulate, and he says tighter too, parts over regulation, you wont get companies to build out broadband and fiber in these areas and Big Companies will not go there. So is that different from the relatively laid back stance that Reed Hastings told us about regarding Net Neutrality very different. Keep in mind ron is the vice chairman of sprint and sprint is a carrier, but softbank also a huge investor in all sorts of Tech Companies, owner of Tech Companies like arm so it carries a different kind of weight when somebody like him is saying you dont want to over regulate when it comes to broadband. Thats a great point. Important sound. Thanks, jon. When we come back, hit mater dj khaled. Back in a minute i got some secret, top secret investments ive done in tech. I cant oh, come on, just give us one. Im a silent partner. Im going to wait until its the biggest thing in the stock exan enmoio come out waving my hand like, hey, im part of that you know what im sayin . Can we at least analyze customer traffic . Can we push the offer online . Legacy technology can handcuff any company. But yes is here. Youre saying the new app will go live monday . Yeah. With help from hpe, we can finally work the way we want to. With the right mix of hybrid it, everything computes. Im scott wapner today, new pressure on the president mean new pressure for stocks traders debate the best place for your money now and a downgrade on alphabet when most analysts are bullish on that stock and exclusive interview with the ceo of eli lilly see you the top of the hour noon eastern on halftime, carl, just a little bit away. Scott, thank you very much. Scott wapner lets get to Rick Santelli in the meantime and get the santelli exchange, rick. Good morning, carl. Contrary to human belief, thats a coin, there are two sides to this lately i think theres one side just about to every story in the world, but that isnt accurate and its not accurate in finance either listen, im going to oversimplify, but one of the conventional wisdoms of the world nowadays is that a flat curve is bad for banks, a steep curve is better for banks. One thing i can tell you is that the short end at least is responding like a live frog versus a dead one with a battery skb a couple of wires like the long end short rates are getting raised okay 1 to 1. 25 as of yesterday. And the questionable currents of these Interest Rates really does require flotation devices. Its called libor. Okay many of these institutions have floating benchmarks on the money theyve lent out rates go up, the benchmark goes up rates go down, the benchmark goes down. So there is another side to the story of banks and how they can fare in a flat yield curve environment whether you believe the shape of the curve is real or not second, you know, there may be some questionable Silver Linings in a global sovereign market you know, back in 1980 i was trading gold and there was a group of gentlemen known as the hump brothers and by the end of 1980, or thereabouts, they owned roughly, if i remember correctly, twothirds of the silver market. Go back and look at the charts see how long it lasted near 50. Currently Central Banks owned about onethird of the tradeable securities pretty much you can take it from there. Sarah, back to you. Ill take it, rick. Thank you very much. Rick santelli. The king of snapchat, dj khaled joining us this morning. We asked him about his favorite social media platforms and the major keys to succeeding on them we made a quick supercut of his best answers here it is. Obviously im real good at snapchat you know what im sayin . I like instagram as well and twitter, i think all of them if you know how to use them all right, you should have them all link up and go at the same time. I got love for snapchat. We made history together. Right. But at the same time, you know, its about staying with its time and staying ahead of the game so all the outlets and devices everybody got to be on their game everybody got to be stay with the theres competitors out there, then everybody got to step it up thats just part of doing business thats a part of being in the game but me, what i do is its a blessing you can actually link all those things from facebook to twitter to snapchat to instagram all at one time i can take my snap and post it on instagram i can take my instagram and post it on snap i can take all that and post it on twitter you know what im sayin . So the good thing is if you know how to do it, use it all you know, the instagram thing is special because, you know, you get a post a picture up and then you can put an image up, you can put a video up and theres no more middlemen. Right. The game has changed. Theres no more middlemen. Back in the days you had to get in touch with somebody to get in touch with somebody to try to get to the main person theres no more of that. You can put a picture out message, hey, and the message is out. But my key is major key. Major key make sure its a good message because thats what we have to show the young world, good messages out there. Right. Some people use social media for negativity and its disgusting thank god for the block button my secret well, its not secret no more because im going to tell you, but being yourself. Thats the key be yourself. You know, with my snapchat, all im doing is being myself. And real abeing authentic always wins when people see somebody elses real, they love it there aint no acting, aint no fake its just real climbing a mountain top never said it was easy to win, you know what im sayin . But thats the beauty, the victory when you get up top. When you see khaled, you know khaled work hard if you see success, people that know me say that man work hard. Talking a lot about snap and the importance of being authentic. Of course he knows the company well he wrote the essay in Time Magazine about evan spiegel. Doesnt prevent snap shares from falling down to 17. 30 today. Yeah. Hes like the oprah of hip hop he says a lot of people, you know, nobody needs a middleman anymore. Well, he doesnt need a middleman, but most people on instagram with their 200 followers maybe needs somebody to repost, right but what hes doing is really amazing the way hes become his own Distribution Channel well see if eminem actually works with him thats the one that he hasnt gotten yet. A lot of people look at these celebrities as doing selfpromotion when it comes to snap or instagram. Its interesting that its actually helped these social media platforms themselves i mean, snap has talked about dj khaled. Its been a huge success for him. I think the question and you guys asked him about whats the secret to snap, he said being authentic. I think theres a line he snapped the birth of his son, who i know is at the New York Stock Exchange, a lot of people have problem how are you going to tell dj khaled d. J. That there is a line. There is line i hope it was okay with the mother of the baby. We did ask about the music business as well given the on going war between spotify and apple. Heres what he said. Me anz artist, you know what im saying, all the excitement that shows that music business is doing good. Thats a new life to the music business im going to speak as an artist and as a ceo, you know, ive been blessed to do a lot of great things with apple music. With april snl. Yes i was going to ask whether you are samsung or april snl. I have my apple iphone. Samsung essay, forget that. I love my apple and their technology and the story is inspiring from apple. I always look at the story how he started apple you look at these stories. I look at my story and other big successful stories im inspired by the story as well we should say, he has a deal with apple its not like he just likes apple. There is no disputing that. Hes, i think, got a radio show as well this isnt just dj khaled likes apple, he also has a business arrangement. Hes getting paid, helps him buy the mansions yes speaking of apple, details on the original dont is mi ucongp next dow is down 23 that is a clip from apples new show hulu and am done making a new content push 70 of Consumers Want a la Cart Services joining us to talk about that, former nbc cochair ben silverman. Ben, welcome back. Good to see you. Good to see you. We had you on a few weeks ago whether this was kicking off do you have metrics yet on how to characterize what a success it is . Well, i can feel it anecdotally, im getting a lot of great calls and feedback from many people i know and dont know and were really starting our consumer push right now. We launched last tuesday night and this tuesday we had a giant episode premier and im loving the process. And im loving watching people discover the show. We would never second guess your gut but when you say you feel it, im assuming youre backing it up with some data that we know apple has. Well, theyre not sharing it with me. So i only can do it the way i always feel the shows which is related to how were seeing them touch culture. And today was a big day as jessica, gwyneth, will and gary are starting the consumer facing marketing push and on tuesday night one of our Big Companies got a 5 Million Investment on the show through light speed. So all of the elements of the show seem to be working and i can know from the App Developers that the apps are getting sampled and seen. Well, ben, is it exhilarating or frustrating not to have the numbers . I mean, neilson ratings are one thing. We know the lack of accuracy there but apple has actual numbers and isnt telling you s that good because, hey, theyre still going to pat bills and you get to be creative or is it bad because you would really like to have that data. Having made shows for netflix and amazon including flaked which just had the Second Season premier last week, its the same amount of information that gets shared with me by everyone so i sprekt that they have a propriety system in which they measure the shows. All of these new platforms and it seems to be working i read today how advertising revenue is going down on television for the first im in a while. A lot is attributed to the fact that the election cycle is over. But, you know, those ratings are also all determined in different ways there is a c3 and l7 and overnight, morning, national, you look at the ratings. They get skewed because of how many people record their shows, fast forward the shows so to me its just about the cultural impact. Is the show working . It is equally take theively great . And does it deserve the time to, you know, grow and grow . I think the other big thing weve seen is shows now are getting discovered in a second and third season or in other windows. And thats part of the patience of new television. Beyond the ratings, ben, how important are the reviews . Im thinking it hasnt been necessarily widespread reviews but some of them have been mixed to negative variety sort of insinuating that its a rip yof of shark tank. Swiit was so dissecretaried i recall having the office panned its first season. Everyone was like why are you remaking this show how dare you introduce the world to steve carrel. Faeb you look at American Idol or the voice. The thing is critics hate Reality Television they want to just love scripted shows. And its not until the audience falls in love with Reality Television that Reality Television is loved. This show is equalqualityively good as any show on television and better than 99 of the Reality Television shows ive ever seen on been involved with and aspirational and positive. Our founders and developers are from every walk of life. And showcasing so many elements of the American Dream. And gwyneth, will, jessica and gary really bring it and im psyched for people to watch it and discover it we are loved by those who find the show and love it and im seeing it on the social conversations and a lot of the anecdotal. I wonder what the first review of cnbc when it turned on the lights was lets not go there. Ben, last question, really quick. I got 30 seconds do you think weve hit peak binge . Were seeing a lot of success shows that dole out an episode once a week. I think its really interesting. Handmades tale launched one episode and then one a week. They had a seven week cycle to be part of the conversation w our show, im really happy that its coming out weekly and kind of building as we do marketing and a push so its not all at once but our show isnt a serialized drama. I think some of the serialized drama, you want to spend the weekend diving into the shows and want all the episodes available. So i think its courses for courses. It depends on the content. Ben, thanks as always. Thank you guys. Ben silverman lets get over to headquarters welcome to the halftime report. Stocks under pressure. The president under investigation and what all of it means to your money and the markets w us for the hour today, joe teranova, josh brown, stevewise is here. So is carrie firestone, the ceo of