And s p 500, nas in six weeks. Yeah. Well start with tech. More broadly, ipos and big tech valuations have been surging culture questions continue to brew in Silicon Valley as well i want to talk about that and a lot more with long time venture capitalist whose newest venture is a private and middle school with entrepreneurship baked into the curriculum Draper Associates founder tim draper joins us now. Tim, good to see you i want to start with your take on these markets i was talking just yesterday to the founder of rike. He said he isnt going public this year because he underestimated how well the ipo market was going to perform in a pandemic has that surprised you and what are you saying about it to your Portfolio Companies . Absolutely. I was blindsided i didnt realize that the government was going to print 13 trillion it has been strong for bitcoin and it sure has been good for the Public Markets particularly the tech stocks that have benefitted from that and i think people many p
At 211 a share, now its 213 up again, those two Companies Amazon and microsoft have huge and growing cloud operations. That is a big part of their stock rally. Now look at tesla, 142, yesterday closing 1600 a share and this morning its up 11 bucks, 1654 but it is up again, are these tech stocks a bubble, is it like the dog, the late 90s, ive never seen anything like this before. Now look at the overall market, the Dow Jones Industrial going up again, maybe 150point of the opening bell, the s p of 21 points, two thirds of 1 . Look at the nasdaq, a half percentage point and more because a big tech again. The market is also getting help from the europeans who reached agreement on a near trillion dollar rescue plan that helps and they are still negotiating a plan for the United States as of right now. Bottom line, big tech in the market going up again today. A different story in our cities there is a confrontation going on on one side local largely democrat mayors on the other federal auth
Of the surge in new cases. Ill have more on that in a moment. We are getting new information on the twitter hack. It wasnt just a handful of celebrities. 130 accounts were targeted and it appears to have been an inside job. That is serious stuff. Im not sure that Twitter Twitter is up, thats right. Im thinking of another stock. Okay, twitter is up just a fraction. It is serious stuff about twitter. Weve got an analyst on the show who says it might have been a test run for something much bigger. Time to drop your twitter account . We will ask the question and get an answer. More on that coming up, too. Lets get to the market. This week we have seen a shift away from big tech and towards smaller companies. The russell index of small cap stocks, for example, up 3 this week. The dow industrials, down just over 2 . This morning, we will open with a nice gain for the dow, up maybe 100 points, 26,600. Look at the nasdaq. Theres a bounceback for you, up 100 points at the opening bell. All righ
50,031, to be exact. Of course that number grows by the hours. Everyone is desperate to find a cure. Scott mcgrew, the president sounded perhaps too desperate at his press conference this week. Everyone is talking about this one. Reporter they really are talking about it. The president of the United States suggesting the injection of disinfectants. Ill give you context on that in a moment, but let me be clear, off the top, do not in any way ingest any sort of household cleaner or disinfectant. Lets hear from but not listen to the president. I see the disinfectant, it knocks it out in a minute, one minute. And is there a way we can do Something Like that by injection inside or or almost a cleaning, because you see it gets in the lungs and does a tremendous number in the lungs so it would be tremendous to check that. So for that you would need to use medical doctors. But it sounds interesting to me. Reporter lysol issued a statement this morning. Under no circumstance should our disinfec
As we expected. Heres a look at a cloudy sky where it is 51 degrees. Pretty mild this morning. Mid 40s to 50s and sun and clouds with mid to upper 50s at the coast. Near 60 at noon for our bay and inland neighborhoods and then mid and even a few upper 60s possible at 4 00 and a very comfortable evening mid50s to about 60. Reggie . Mike, thank you. You know, the last thing you want right now is to have essential workers showing up to work because they feel like they cant miss their pay even if they get sick. Well, now some major bay area cities are providing some relief. Abc 7 News Reporter Julian Glover is live for us in san jose. Julian . Hey, good morning, reggie. Yeah, this is really another tool in the tool box to help slow the spread of the coronavirus. The idea is to give essential workers like you mentioned enough sick leave. An additional two weeks off so if they do come in contact with the coronavirus or they have it themselves, they dont have to worry about missing a paycheck