Analysts bet on new seasons of shows like Stranger Things. Elon musk announces his latest startup nuero link, successfully implanting wires into brains and enabling a monkey to control the a computer. The next goal is human trials. We begin with the hearings on capitol hill. Googlek, amazon, apple, all appearing in washington to answer lawmaker questions on antitrust, social media, and cryptocurrency. The first was facebook as the Banking Committee fired searing questions at the cocreator of the social networks cryptocurrency project. We will take the time to get this right. Wouldnt it be easier and safer if people could securely receive money transfers through their smart phones, just like they do for so many other things . Emily the chief was grilled on tuesday. We caught up with the senator after the hearing. I think Blockchain Technology, even the possibly of cryptocurrencies, it has some positive upside, but i think we have to be careful. Particularly when we are talking but the p
Just out he says that we know we need to take the time to get this right. And he expects that the time between now and the launch period will be an open process and he acknowledges that it will be subject to Regulatory Oversight and review he also says that he agrees with the concerns of fed chairman jay powell, that reviewing libra needs to be a patient and thorough process rather than a sprint to implementation david marcus also calls Economic Empowerment one of facebooks core values. Thats why theyre participating in the development of this currency he says and emphasizes that libra will be a payment tool and not an investment. He likens it to cash rather than to boyitcoin but he also lays out the danger of failing to act. He says that if the u. S. And facebook does not take the lead on this issue, we could soon see a Digital Currency controlled by others, whose values are dramatically different so there you see david marcus agreeing that the organization that will create this Digit
Maxine waters. Mind games. Technology can read a rats mind. Goal, human. First to our top story. Netflix tumbling after the streaming giant reported a loss of u. S. Customers for the Second Quarter. Earnings renewing prospects. Netflix says it lost 130,000 customers in the United States as a result of higher prices and a weaker slate of shows. It is signed up 2. 7 million subscribers globally, also missing projections. Joining us now to discuss the underwhelming results, michael and bloombergs luca, who of course covers the company. Michael, this is the first time the company has lost subscribers since 2011 when they split the dvd and streaming business. What is your top reaction . Luca becauseborrow he tweeted he is tired of talking about this. Increases derived. I think they are probably bumping up against a ceiling of what they can charge and continue to grow. I personally believe they will keep 80 of their domestic subscribers, as high as a 20 monthly charge. But their last 10 mill
Little love for libra. To take onzon plans its new highend echo speaker. Begin with that fresh facebook news. The ftc has approved a privacy settlement with the social media giant, fining facebook about 5 billion. This marks the most significant axiom yet against facebook over a series and send the company reeling from one crisis to another. I want to bring in kurt waggoner, who covers facebook for us. He joins us on the phone. In washington we have naomi, who covers corporate influence. We know about the amount of the fine, tell us more about any other Additional Details that will be coming along in the settlement . That is the key. Facebook had said i believed it was in april they set aside 3 billion for this very purpose and the fine could be up to 5 billion. This was something the company was prepared to handle. Made 56 billion in revenue. The additional will be the details on whether or not any agreement includes something that could limit the Data Collection the company has or an
Stocks went up 225 billion. Were up 10. 1 trillion since the election of donald trump. This monday morning, the dows going to be up about 50, modest gain for the s p, but look at that nasdaq. Up about onethird of 1 , 24 points up. Big tech looks like its rallying today. Earnings season has begun. Good numbers from citi this morning. Its goldman tomorrow, ibm wednesday, microsoft thursday. How about this from peter teal. Google, he says, is treasonous, his word. He asks three questions. Has googles Artificial Intelligence project been infiltrated by foreign secret agents . Does googles leadership believe it has been infiltrated and number three, is that infiltration the reason for googles treasonous decision to work with the Chinese Military and not the pentagon . Well connected and influential. Here we go. New week, record highs, profit reports and wilbur ross, out at commerce . Varney company is about to begin. Stuart if this doesnt cause outrage, what will . Shocking videos, antii. C