By 33 , meaning that the recover may still be far off. What does it mean for investors, businesses and families in this country . Ahead of blockbuster earnings for the Biggest Companies in the world. That is coming up after the bell. After the grilling of the bilge tech ceos we have preview of the tech names. As you can see on the screen, a lot green and more on making money. Cheryl it has been a really interesting session since news on gdp, initial jobless claims crossed tape before the bell. Stocks are mixed. Were off session lows. Were waiting on the four Big Technology companies to report their Quarterly Earnings after the bell. You had the ceos yesterday. Well get the numbers today. Those ceos testified, you saw it here on this program on capitol hill. It was a heated hearing. A lot of allegations were thrown out against the four top ceos. Well bring in susan li who has preview of earning and some of the fallout from yesterday. Susan there were no punches landed. It didnt further
One, in general. In general, i think when two companies are negotiating you are negotiating not just the amount of money that is going to change hands but also what youre going to get in exchange for the amount of money. That ask a fundamental way business works. To do you see at least to outsiders that would look like a structural conflict of interest . You are using your control over access to peoples living rooms essentially, youre using that in order to obtain leverage in terms of getting Creative Content that you want . Are you essentially converting power in one domain into power in another domain where it doesnt belong . I think what i should do is offer to get you information. I will get it to your office for you because im not, not familiar enough with this. I could imagine there would be scenarios, if were just talking abstract where it would be inappropriate and i can imagine scenarios where it would be very normal business and very appropriate. Good enough. I want to talk a
Lot going on as stuart did tell you that whole hearing where the tech giants will gather virtually at least. It is parked back maybe half an hour. I was doing back of the napkin guesstimating on their wealth. That is on, i think is worth about 180 billion. Our Charlie Brady follows this thing would know to the penny. I think it is roughly about that. Mark zuckerberg facebook, close to 90 billion, close to 2 billion, tim cook of apple, thanks to appreciation of that stock, he is at around 2 billion. So lets say you were to add all of this. These are numbers. I added it all up. That is 272 billion collectively. These are among the richest men on the planet, particularly when it comes to bezos and zuckerberg. But putting companies combined market cap at north of 5 trillion. If you were to add microsoft to that bunch, microsoft will not be part of this hearing. They represent the five most valuable companies in the world. Isnt that amazing . Youre welcome america. We have this delay. We ha
Thanks for taking my question, you added a sentence into the statement about the course of the economy depends on the path of the virus is this do you feel this idea or view is not widely enough understood do you feel you had warned back in may that too early reopening or cautious reopening might harm the economy do you feel that message is not heard and some of these reopenings took place perhaps sooner than they should have i think we feel that it might be the most central fact or the most central driver of the economy is the virus were seeing that again. You saw that during the lockdown when we got cases way down you saw the economy reopening. You saw spending go up and hiring go up now that the cases have spiked again. Again, the early data, highfrequency data suggests that theres a slower pace of growth at least for now. We dont know how deep or how long that will be. Its such an important sentence, we just decided that it needed to be in our post meeting statement. Its so fundame
As they demurred to the awesome power of the u. S. Congress. They were dismissive of any notion, they of all people would stifle competition or could in any way strangle free speech and crush conservative voices and votes. They claim to be the fartherrest thing from monopolists or oligarchs. They compete not only against one another and viciously but against others. Googles ceo, sundar pichai, claims his Company Faces intense competition, yet somehow, some way, google manages to dominate search traffic, accounting for, are you ready, almost 92 of all searches done online, 92 . That is very close to monopolistic, dont you think . And google also remains the largest digital ad platform by market share. Last year nearly 32 of all Digital Advertising dollars were spent, on google. The company paying a 1. 7 billion fine in march to the European Union where they stood accused of abusing the giant Advertising Market dominance, well, that denial was found to be absurd. All four companies today