Number. We get the ppi number and that tells us if inflation is sticking there. It was hotter in january. The tenyear note is sitting below 4. 2 at 4. 198. The twoyear note at 4. 26 . The head of the National Transportation safety board said Security Camera footage showing work done on the boeing max 9 door plug that blew out mid flight has been overwritten. In the letter to the Senate Committee and the chair and agency still lack critical information of the events that led up to the january incident and who performed work. Boeings Ceo Dave Calhoun said he was unable to provide the names of the workers. Boeing has no records of the work performed. Boeing says the company does not retain security footage for longer than 30 days. The work was in the factory last year and delivered in october. More news raising eyebrows and questions. Oh, my. Thats all i have to say. I know. I guess i have seen enough dateline and drama and you look at the footage and you say oh, no. You leave it in. You use it again. Its new stuff. The old stuff is gone. It is plausible, but why do it . I understand you wont hold it for more than 30 days. What you dont understand is you dont have records on who worked on each individual plane. You think there is a mark which tells you there is a team. It goes to a coverup. A culture that doesnt track things. I agree. Doesnt followup on things. That is the central component of the ongoing challenge for the company. How much crucial bolts are on a boeing . A lot. Thousands. These seem really important. To hold the door plug . Yeah. It seems those are important. There must be a million parts if they are not there is a problem. Im trying to give them leeway. Im more surprised you would not have any records of which team worked on which part. This is bizarre. Big news. A frequent guest which is the last guy that i hot would be chairman of under armour. Surprise announcement from under armour yesterday. Viewers at home are waiting to hear. The ceo Stephanie Linnartz is stepping down and kevin plank is returning on april 1st. Stephanie will stay on as an adviser. Plank will remain on the board, but handing over the chair position to mohamed elerian. The economic adviser. He was on a couple of daysi ago. Shares are down 17 since she took over as ceo in february of 2023. Happening right now. Elon musks spacex is preparing for a test flight this morning. The first two launches had mixed results. Both rockets achieved milestones before they were destroyed because of problems. Spacex hopes to demonstrate new capabilities like opening and closing the spacecraft door and splashing down in the indian ocean. Stocks on the move. Lets start with beer and signiciga cigarettes. Shares of ab inbev falling as it looks to return more cash to shareholders. Altria owns 10 of the beermaker. It agrees to recover shares when the offer is over. It realizes a portion of the return on the longterm investment. We talk about pepsi and chips and soda. You think beer and cigarettes. Right. 30 years ago, maybe. Maybe thats changing. 40 years. Robinhood saw a big increase in february. Up 36 in trading over january. Volume for options contracts rose 12 to 1 119 million and crypto volume was 6. 5 billion. Shares of robinhood now up 100 year over year. Thats what i meant with liquidity in the markets. A feeling and animal spirits thing that has come back. Liquidity. That may be now. Its a little bit worrisome. Thats why i wonder when you look at bitcoin and it all is a piece of the liquidity. A lot of stuff sloshing around. Herb keliher. It wasnt beer, but bourbon and red marlboro or lucky strike. Does that lifestyle exist . Paris sparis . Paris exists. A lot in davos when we were there. Shares of the Cybersecurity Company reported a smaller than expected loss. Guidance was softer than expected. The companys ceo said margins face several pressure points from the costs related to three ak ri sigcqui acquisitions. Sen sentinelone is not facing the same problems as palo alto. The customers are continuing to spend aggressively. New details on reddits ipo from the road show. The platform telling investors that it expects to grow revenue by more than 20 this year and break even when it comes to adjusted earnings. That would mark a turn around for reddit which became profitable for the first time last year. It is looking to raise 748 million and plans to sell 22 million shares between 31 and 41 a piece. Coming up, more on squawk box, the house passing. We will see if the white house does it. Passing the tiktok divest or ban bill. We will talk about what is likely to happen next. And Steven Mnuchin is here with us at 8 00 a. M. Eastern time. We will talk about that and so much more. Squawk box is coming right back. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. You know doug, ever since switching to workday youve been a real rock star. Rock star . What do you know about rock stars . Billy idol . I mean wheres the skintight leather . My shoes are leather. Wheres the unnecessary zippers . That thing billy, rock star is just how doug feels when he uses workday. Thanks, rory. Ill show you rock star be a finance and hr rock star. Workday. For a changing world. Billy idol just stole your golf cart this is our future, ma. Godaddy airo. Creates a logo, website, even social posts. In minutes how . A. I. impressed ay i like it who wants to come see the future . get your Business Online in minutes with godaddy airo encore energy, americas clean energy company, now in production in south texas. Energizing america with reliable and affordable uranium for Nuclear Energy fuel from our environmentally friendly extraction process. Encore energy. Oh, its cold outside. Time to protect your vehicle from winters wrath. 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The house looking to divest tiktok leading to the apps ban in the u. S. And that moves to the sdenate. We have our Business Reporter joining us. Nice to see you. Satya, help us. This will go to the senate, but in terms of getting to the senate, what is the timeline and what reaction are you hearing from folks there . So, right now, we havent heard a lot from the senate in terms of what will happen. For example, schumer has not confirmed this will be introduced and taken on, but that is the next step for this legislation. Anything can happen. Tiktok, obviously, is waging a strong lobby against this Going Forward. They are really turning to the users to call legislators and senators. Just last night, you saw the tiktok ceo put out his video to reach out to creators and users to be part of the process. It will be fascinating lead up to what goes on in the senate. Do you that is affn efffn ef strategy . There has been backlash because people in washington have said look at the power of the social media platform. Look what could happen or maybe is happening depending on who you believe that the Chinese Government could influence so many people . Yeah. People have the right to call their elected representatives, but i think that the thursday stunt was met with frustration from lawmakers. Tiktok had a designglitch. They sent the message that said call your representatives. Tiktok is going to be banned. For a period, people could not x out of that and were not able to do the normal swipe up to remove the message. They could only swipe right. You had a lot of people just clicking the button and calling the lawmakers or hanging up. A lot of people did call and express concern that this app they love may be taken away. Lets talk about the ban versus divestiture debate. Tiktok said this is a ban given the sixmonth timeline and given some of the language in the house bill. The folks who crafted that bill say no, no, this is a divestiture to force them to sell to somebody else. What is realistic . Its hard to say, honestly, because each side is really adamant that what theyre saying is accurate. You have jeff jackson, the congress member, the most popular on tiktok, 2. 5 million followers who voted in favor of the bill and he doesnt think it will go away. He thinks they could reach a resolution where bytedance spins off tiktok or gets new owners. Tiktok says it is not possible. I think the thought of a sale of the Company Raises questions. Were not sure if this applies to just tiktok u. S. Or how would it interface with tiktok in other countries . You know, theres a short list of who could buy tiktok and who could afford it. Lets talk about the short list. Given the department of justice and the ftc lieina khan. When you look at the companies which could afford tiktok, not a ton of them out there. One would be meta. Very unlikely that would pass regulatory. It is hard to see how that works. By the way, what is it worth given one of the things that has been revealed is this is not a money making business for all of the talk about its popularity, which it is. Thats demonstrable. This is not a profitable enterprise, it does not seem. Yeah. Its private. It is hard to get a sense of what it would cost. I remember in 2020 the numbers thrown around at the time were 50 billion. The app is bigger than it was then. Also unclear how it would be valued. The other big question, too, is lets say all of these things happen and you get to this point and would china intervene and block a sale or would certain pieces of the technology not be up for sale or export to the u. S. . Its raised so many questions and this will be a crash course for americans in m a. Thank you, sapna. When we come back, shares of u. S. Steel plunged yesterday on reports that President Biden could express concerns over its acquisition by the japanese company. Weve got the details on that next. Later, disney taking a page from the activist playbook and the proxy battle with nelson peltz. We will dig into that story later this hour. Squawk box will be rig bk. Htac ial advisor, my promise to you is simple. As a fiduciary, i promise to put your interests first, always. I promise that our relationship will go well beyond just investment decisions. Its the intersection of your money and your life where we can make the biggest difference. [announcer] Charles Schwab is proud to support the independent Financial Advisors who are passionately dedicated to helping people achieve their financial goals. Visit findyourindependentadvisor. Com i could use a little help. Yeah, theres a lot of risk out there. Huh hey, is this thing hard to learn . Nah, its easy. Huh. You know, i think im going to ride it home. Good thing you chose u. S. Bank to manage and grow your money. With our 24 7 support at least youre not taking chances with your finances. Yeah, i think im gonna need a chair. Oh, ohhhh. Music unnecessary action hero unnecessary. Was that necessary . No. Neither is missing your daughters competition to do payroll. With paycom, employees do their own payroll so you dont have to miss your daughters big day. Time to shine. Get paycom and make the unnecessary unnecessary. Shares of u. S. Steel closing down nearly 13 yesterday for the stocks worst day in four years. That move coming after the Financial Times said President Biden plans to express concerns over the nippon steels 15 billion takeover of the American Industrial giant. The rising opposition of the deal looms large ahead of the summit with President Biden and the japanese Prime Minister next month. Shares of u. S. Steel up 3 , but year to date, down 13 . Shares of ev startup fisker plunging to 17 cents overnight after the wall street journal reported for a potential bankruptcy filing. Fisker had a doubt of the concerns Going Forward and this is the same worry others in the ev pace a vv space are reportin and robinhood with the resurgence of retail trading. Thats ahead next. And as we head to break, lets get a look at yesterdays s p winners and losers. Announcer executive edge is sponsored by at t business. Next level moments need the next level network. Fr s realty hi this listing sounds incredible. Lets check it out. Says here it gets plenty of light. And this must be the ocean view . Of aruba . Huh. This listing is misleading. Well, when at t says we give businesses get our best deal, on the iphone 15 pro made with titanium. We mean it. Amazing. All my agents want it. Says here. inviting pool. Come on over too inviting. Only at t gives businesses our best deals on any iphone. Get iphone 15 pro on us. at pgim, finding opportunity in fixed income today, helps secure tomorrow. Our timetested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. Pgim investments. Shaping tomorrow today. Good morning. Welcome back to squawk box. Were live from the Nasdaq Market site in times square. This morning, the futures are looking up. Dow futures up 136 points. Nasdaq up 90. S s p up 19. Bitcoin is up to 73,752. Ethereum is down slightly. Crude oil prices at this hour, if you look, wti is slightly higher as well. Up by close to 1 . 80. 44. Ice brent is closer to 84. 64. We need to add gold to the stack every morning. Hitting a new high. Reflective of what were seeing. Investors are hungry for a piece of the a. I. Boom. Our next guest helping Retail Investors get in before a. I. Companies go public. Joining us now is ben miller. Fundrise is an online Investment Platform to offer access to private real estate. Suddenly, more, recently, private a. I. Companies like anthropic and canva. You want to get in on this other action . We basically have a couple million users and demock ratizi users. Last year, people were in high yield checking accounts and fixed income and the last couple months has been a radical shift to equity and a. I. All of the survey data is telling us they want more a. I. And they want to invest in the rising tide of a. I. We created an innovation fund, the first ever public venture fund, that tears down the barriers with private and Public Markets and democratizes. We remember what happened with robinhood and the meme stocks. Robinhood had a crazy behavior of some companies. Was the potential ever where the stock prices went . They could have never grown into the prices i wont mention names. They are still around and Holding Stocks worth 2 cents on the dollar. Say names. Im getting closer. You have been waiting. A. I. Is now the baton for meme which has been passed . The speculation has been passed to a. I. Back to crypto. Venture capital is the best performing asset class in history. Before we launched our innovation fund, ordinary investors could not invest in venture capital. There is obviously risk, but what has happened with the Market Structure is private companies are staying private longer and you have the massive multibillion Dollar Companies that are still private. If your expertise was real estate, how long were you doing real estate . A decade. A decade. Suddenly a. I. And now you are experts in a. I. . At least remember when everybody would add a dotcom to their game . Is it similar to that . We have 150 Software Engineers at the company and a couple million users. We have the full stack. I have been Building Software for a long time. My First Experience in finance and in technology is pretty deep. It was the most natural where our expertise sits. Real estate and technology. The timing was fortuitous. Private markets repriced down to normal levels. The greatest Technology Breakthrough of my life. Investors should be able to participate in that and before us, they couldnt. What diligence do you do that is different from everybody else . Our fund is registered with the s. E. C. It is a publicly registered fund. It is a fund and we have a team and we hire exventure capital companies. Our process looks likes any other venture capital. We focus on the Mature Companies preipo. If you remember Goldman Sachs did this with facebook before they went public and did it with stripe. Now were doing it, too. There is a long history of providing access to people which shouldnt be based on net worth only. You dont think the net worth category is a good idea . Clearly you think it is a bad idea. Yeah. Venture capital and these companies and our portfolio with these companies with 1 billion revenue or more. They are all mature. Theres no reason from a fundamental point of view, they should be barred from ordinary investors. The reason this is the case is people look at ftx or look at a company, by the way, people thought had great revenues and many of the Companies Still dont have profits, including many in your portfolio. They will say whats going to happen to this company . Can they really be diligenced . If you talked to most venture capitalists, they say we are not in the diligence business. Were in the business of investing in 30 businesses. We expect that some large portions will go to zero. How they get to zero is less relevant to us. W