Worked so much in the first couple of quarters. We are also expecting our investment ipo tomorrow. It is a very, very busy year for us, all in all. You are looking at health care opportunities. Everybody else seems to be doing that. That is why valuations have skyrocketed. What are you finding and what are you concentrating on within that space in particular . Nisa it is interesting. Board. St across the is, is really interesting when we invested in the first company, the first Vaccine Company to list in hong kong. One of our Companies Went out in hong kong, the first device company. Venus, thepo of whole medical device sector has become hot this year. Seen 25 areas we have Companies Getting funded in china alone. I am not sure about the competition. On the discovery side there is also excitement. Because valuation has grown so much, we would still stay away from very expensive deals. Historically, we have been investing 75 at least. Systematically we have been doing the same thing as
Good morning it is 8 00 a. M. At tesla headquarters in palo alto, california it its 11 00 a. M. On wall street squawk alley is live good Tuesday Morning im jon fortt with Carl Quintanilla back again it is a busy day on wall street with the dow hitting an all time high making another run at 30 k. That comes as president elect joe biden is reporting tapping former fed chair janet yellen to run the treasury department. Tesla is continuing the record run now topping half a trillion dollars in market cap. Making elon musk the worlds second richest person on paper and apple making another concession, carl on App Store Fees a lot going on yeah. We talked about that early moving being the small crack that starts to widen as for tesla, i mean, whether its some of the reports about a hatch back in europe or longer range vehicles or just enthusiasm over the ev space as we gheet into a Biden Administration on top of the gm news yesterday, jon. So there is a lot happening in the ev space and then m
Youre expecting here in the coming days and week. What we should be watching for this week. Hanks for having me, john. That makes two of us as far as trying to keep on top of everything. As far as the current state of play, these past three weeks we have seen three crucial positive readouts of data from leading programs. The first came from pfizer, the second came from moderna, and the third one this morning just came from astrazeneca and the team at oxford. These are three leading vaccine front runners, all three in late stage studies appear to be effective, the first to 95 effective in preventing covid19. Thatnity is expected to do late november, early december. That will set up an fda decision, all eyes turning to the agency to see how quickly they can approve it and for what subgroups of the population. Vaccineing on in the phase, but there is a lot going on and muchneeded positive news when you think about the surge that we have seen in cases, hospitalizations, and deaths. The fda
Good wednesday morning welcome to squawk alley. Im john for the with caro quintanilla and Julia Borstin well start with apple, a cost cut for Small Developers josh lipton breaks down the news for us. Here is how the new program is going to work its called the App Store Small Business Program it launches on january 1st and it does represent a big change here. Developers earning up to 1 million during the Previous Year will now be eligible for a commission of 15 on paid apps and inapp purchases, and that is half of apples Standard Commission apple says the new program will impact what it says is the vast majority of developers selling Digital Goods and services on the store. Tim cook saying in a statement the app store has been an engine of Economic Growth like none other, creating millions of new jobs and a pathway to entrepreneurship accessible to anyone with a great idea for investors this change is also important remember, the app store is critical for apple it accounts for an estima
The short term we have concerns about what happens with the virus. New york shutting down when it comes to the schools. Nevertheless, how can you sustain the entering opening of restaurants and bars on the back of concerns when schools have to close . The dilemma is front and center for the people operating government right now, and investors. Can they look through it . Joe exactly right. Still nothing to help out from d. C. , no stimulus seeming to be imminent. And the economy is not rolling over yet, but i think it is surprising less to the upside. Several times the data kept coming in soundly solidly better than exultations. The big green area were all those data points that kept surprising to the upside. That is rolling over. What that means is not that the economy is sputtering, per se, but people are catching up to reality. Of course we had retail sales yesterday well below estimates. It is dawning on people, i guess everyone is getting more realistic, starting to mangy maybe vir