Joining me back in new york, john and kayla. Busy day, day seven and a busy day back home at post nine, back over to you. Thanks so much, chaarl. Amazon hitting alltime highs. Earnings from michael kors, jc penney and if you can remember back to monday, we kicked off with walmarts 3. 3 billion acquisition. The retail space heating up. Where should investors look to next . Tony florence is a general partner with nea and early investor and director in jet. Com. Tony within its great to have you. Thank you. To shed light on retail. Retail sales for july miss. I mean, its dark. Unless youre someone whos selling automobiles. Whats happening . Well look, i think these are trends that weve been seeing for a while. I think some of it more evident today. Theres been a big shift in consumers over time you know online, and i think certain categories started that. I think theres much more broad base today. I think the experience today online and mobile is much richer and its in many cases a better experience in some ways then going offline today. I think thats really what the story is. To see macys announcement, its closing 100 stores. The stock jumped 17 . One of these companies, especially Department Stores need to do to catch up with the times and make sure their customer doesnt go somewhere else . One of the interesting things is the power of data and insites at the customer level. One of the things a z a webbased business or mobile business. You direct relationships with her customers and you have all the data and insite. I think thats one of the key things retailers and one of the key battlegrounds for retailers going forward. How to leapfrog themselves into having those insights. The other thing is obviously experience. Talking earlier about what made jet. Com so special. That data and insight was one of the things you pointed to, of Course Experience didnt hurt either seeing as could see before that. Tell me, how do you apply that when you look at the next thing that youre going to invest in. Youve been in interesting stuff including casper and care. Com. When you look at three years from now, what the next jetlike raid thats either going to be independent success or get acquired by somebody big. What sort of daf that are you looking for . Theres a couple of players. First of all, at the end of the day, theres a brand. I think brands are more valuable than ever. Thats brand value and what it stands for is going to be as important three years from now as it is today. At the customer level, i think there is a lot of insight you can get around intent versus discovery. I think one of the powerful things that were seeing the director consumer model is you can actually help customers discover new product categories or new ways of shopping that they have before. And i think thats going to be a really powerful in the next few years as ai and deep learning and other softwaredriven insights can get you through. How much is based on data about the customers intent which is more googles model historically of gathering data. How much is based on data about who the customer is which is a little bit more facebooks thing . I think its a combination. Its one of the really interesting things, then youll be able to also offline data is really critical here too. I think when you marry intent data with that discovery and interest data with offline data. Thats going to be a powerful opportunity for customers. Every time we see a big deal in any given space. Peach always rush to say, theres going to be a water fall of deals. This is going to open the flood gates or every big player is going to acquire the next big thing. There havent that Many Companies out there like jet. What happens now from a an a standpoint wheen are the big buyers . I think specifically in a retail space, you heard this this yeek, every retailer has to think about how to push the technology and innovation perspective. The other thing last week, or the week before, the acquisitions are a shapeup was a really interesting transaction because i think it wasnt just about newly rebuying a razor company. It was about buying a market platform. And a platform of technology that could actually market to customers in very different ways. I think theres a lot of Companies Like caspers is an example that direct consumer businesses that are just about that pure product. They are much bigger, border opportunity for Consumer Product companies. It does raise the question of whether the companies can even go public. Because you sold guilt to sachs, which for a long time was discussed as an ipo candidate. And now jet being bought by walmart and blue mercury being bought by macys and it makes you wonder, can the businesses stand alone or do they have to have scale of a big player to survive. The ipo market has changed in the last year. Its opened up a little bit more. The larson two years has been very difficult to get both software and Internet Companies public for a lot of reasons. Partly because of evaluations, but also partly because the scale thats needed to get investors excited. I think thats softened up a little bit. I think certainly the markers are going to be very important for our business and for Companies Going forward. Its a big strategic tool for large companies. Remember, mna buyers will be sought out that 2013 and 14 period. Ic they built their cash balances, low cast capital and strategic intent. I think like the better Companies Like the google or facebook, youre going to see broadbased because companies are going to look as a strategic vehicle for both growth and innovation. Your portfolio reads like a whos who of e commerce right now. Youll have to come back soon, tony. Thank you. Tony florence. Meanwhile, back to carl for the latest from rio. Carl. Hey kayla, what a week weve had so far of competition going into the weekend. Think of the napes weve been talking about so much. Phelps, biles, le decky. Theres another name youre going to want to remember. Circumstance rks mone manuel. Thats an olympic record. She is now the first African American woman to win an individual swimming medal. She ties with canada who by the way is 16 years old. You know team usa is set to make its 1,000th gold medal, probably some sometime sunday or monday. And we talked to seventime medallist Shannon Miller about that incredible legacy. That is an amazing milestone to think about and to think that i had a small part in a few of those medals is pretty cool. Other big story this morning is going to be once again, guys, the diving pool. Were just getting word a few moments ago from nbc olympics that it is closed. Set to reopen some time in the next hour. The reason were told is to let the water settle, try to get it blue again. As you can see, its quite green. Apparently no competition though has been disrupted for the moment. Coming up later in the hour, were going to talk to matt siegel, hes the ceo of u. S. Track and field. Hes brought on a dozen sponsors since he got that job, including hershey and nike. Well talk what the future is for that sport as we get the shot put later tonight, guys. Looking forward to that, carl. And when we come back, the dow, the nasdaq, and the s p 500 all closing at alltime record highs. So where do we go from here . Up or down . Then microsoft making a bet on streaming. What could that mean for the future of gaming . And then hash tag save twitter. Topping the charts. The Details Behind that are coming right up. And now, over to sima mote. Is that right . Are we going to break. Were going to break, lets do that. Well be right back. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Welcome back. And now would be a good time to get out for that quick market flash. Hey john, look at shares of sigg in a moving higher after a bloomberg report that Djustice Department lawyers are listening for them. To block two megadeal ls in the health care industry. Involving the giants anthem and also et in a and humana saying the deals would harm competition across the country. Right now were looking at better that 4. 5 . John. All right, thank you. And meanwhile, the dow, s p 500, and nasdaq closing at an alltime record high. That hasnt happened since december 31st 1999. You shouldnt think too much about what happened after that. The major averages go under some pressure this morning. Some of the top performers in the last 16 years. Monster beverage, tracker supply, and gilead. Right now lets bring in the founder and right now unicorn ceo raul. Good to see you. Nice to see you too. Kind of wish i was in rio, but dont we all. A lot has changed since 1999, youve gone through quite a few jobs and youre still an entrepreneur. What strikes you about these levels particularly in the techheavy nasdaq this time around and how it compares to goodness, 16 years ago . Oh, i mean, you know, obviously things are much different than they were 16 years ago. In that you know most people are now using mobile devices and theres a lot more sort of active users using the internet. And so were not, were not really in a tech bubble that we were then. You know, we have companies with real revenues and real businesses and theyre disrupting, you know, real retail like amazon for example subpoena a company thats doing that. I just dont see it as i dont look at it as a bubble like 1999. I think of this is an evolution of where we are. And more and more people are using it. Sop its normal. Are there areas though that you think are either overhyped or misunderstood . Whether its in international markets, whether its in even a gaming arena. Where youre working, is there money flowing to places where it shouldnt be . Things that are going to have to get rationalized . Well, you know, i dont know, i guess the most recent example of that would be linkedin for example. You know, who knew it was worth 28 ball, i thought that was pretty amazing. You know, when i look at that though and i think about about the story on, you know, data and users and being able to sort of take that data and turn it into a live realtime information. I guess it sort of makes sense, but im note so sure than theres a lot of hype right now. I look at twitter and i think, its got about 12 billion market cap and, you know, its somewhere over 300 million active users. I really think twitter is a company that will be acquired by some big company soon. I just think that its a, you know, its got some really Relevant Technology that could be scale nbl a big company that could do something really great with it. So i dont know, im more of an optimist. The best performing sector in the market this year is telecons. Last year it was the momentum internet names that we all know as household names, but im wondering if you think thats because the focus is shifting to the value of the pipes and the distribution for all of these services that we talk about. Or if its just a bet on perhaps these Business Models being more transformative in the future. I actually think its more people are sort of taking a breather from, you know, internet stocks, you know, with high user growth and theyre looking for fundamental businesses that have, you know, real potential to monetize quicker. I think its just an issue of patience. You know, i think in probably 12 to 18 months well go back to the days where companies will be getting funded at the time and people will speculate more. I think this is more about exhaling and theres still a lot of investments you notice microsoft made it acquisition with yesterday thats that sort of stuff will continue to happen. Lets talk about that. Of course thats hot off of microsoft 26. 2 billion deal. It was a company that does some things with streaming and interactive gaming. My understand you had something to do with bringing this company to microsofts attention. What does this signal about where gaming is headed next and really the influence of the audience on what the Gaming Experience turns out to be and where the value and profit is in the gaming economy . Yeah, sure. So, you know, if you think about gaming in general where it is today. It really is the future of entertainment. It defines sort of the future of sports, the future of sort of spectator events. What beam is, first up this company is amazing. I met the ceo when they first moved to seattle. And i spent about an hour with them and i, i immediately emailed the head of x box and said youve got to talk about something cool. But imagine youre watching a Football Game for example. And you know, youre watching Russell Wilson with the ball and hes about to throw it, and you could take, you could instantly put a blocker or a bulldozer on the field. But pressing a button. Thats sort of what beam does with video games. So theres people who play video gapes and stream it online. Beam makes it possible for the spectator, the fan to interact with that game and throw obstacles in the way while the person is play ugh. Its really fun. So its sort of increases engagement to a completely different level. And thats the interesting thing about this face. I mean, when you talk about fan engagement, there is no better way, you know, to increase that engagement than to have them directly interact with the game. How different is beam from what amazon got in twitch which we havent seen exactly how that strategy is playing out. Amazon twitch effectively is a way for gamers to stream themselves playing games and interact with their fans. Beam is a way, its the same thing as twitch except beam has another layer where the person watching can also play the game or do things in the game to effect the outcome of the game and get an Immediate Reaction from the person that theyre watching. So its sort of like, its sort of like another level. And its something that could potentially be linked to twitch and other streaming platforms. And by the way, on your point about, you know, amazon and twitch and were not sure about the effects. Irng the, you know, the viewership of twitch continues to grow. I think there is a, there is a big opportunity that amazon is sitting on right now that probably theyre not talking about too much. But they are really scaling this business well and it is increasing not only is it increasing the engagement of games and titles if he general, but its also changing the whole gaming landscape completely. So its, it is a big bet for amazon. The whole beam things reminds me of the hunger games and sending packages in and create obstacles. Anyway, twitter also denying rumors it is shutting down in 2017. A weird rumor that started online. In a statement twitter says quote, there is absolutely no truth to the claims whatsoever. This coming as the savetwitter began trending yesterday with more than 100,000 tweets. Its unclear how that started. There are always rumors about facebook starting to charge, about you name it. Probably rumors about snapchat too that its going to disappear or something. Raul, your take on why these rumors keep popping up . Its just complete nonsense. You know, the internet is it has a way offer. Pech waiting things that are kind of nonsense. Its funny, you know, sometimes you get internet memes that become popular for no reason at all. I think this is complete nonsense. I dont think twitter is going anywhere, you know, i really do think there is, there is something here, you know, i think many people consume their news on twitter. The first thing you do is get on twitter, look at whats trending and you get news instantly. Theres no way its going away. I think twitter needs to figure out how it is theyre going to turn into a real business and theres probably a number of ways that they could do that. But the data that theyre sitting on is, its far too valuable. Its like a gold mine just waiting to be mined, right . So basically building storage of gold, Somebody Just has to figure out thousand mine it. Theres no way twitter is disappearing. Surely the company is working on just that, john. It is ironic especially considering so many fake celebrity death rumors begin on twitter. Yeah. Morgan freeman for example. And i just went to myspace. Com, thats still around. If myspace is still around, twitters not going anywhere. Thanks for joining us today. Have a great weekend. Thank you, you guys too. See ya. When we come back on squawk alley, Hillary Clinton and donald trump unveiling each of their economic plans. And well debate the merit of each of them, up next. And then the countdown to the european close in just a few minutes when squawk alley returns. Hiim here to tell homeowners that are sixtytwo and older about a great way to live a better retirement. Its called a reverse mortgage. Call right now to receive your free dvd and booklet with no obligation. It answers questions like. How a reverse mortgage works, how much you qualify for, the ways to receive your money. And more. Plus, when you call now, youll get this magnifier with led light absolutely free when you call the experts at one reverse mortgage today, youll learn the benefits of a governmentinsured reverse mortgage. It will eliminate your monthly mortgage payments and give you taxfree cash from the equity in your home and heres the best part. You still own your home. Take control of your retirement today Hillary Clinton and donald trump making their economic plans in michigan this week. So which candidate is best for the economy . Joining us now are jennifer, the democratic governor of michigan and Senior Advisor at correct the record. And also joining us is jack kingstone, former republican congressman from georgia and trump advisor. Its great to have both of you. Governor, i want to start with you, the fact that both candidates chose michigan to unveil their economic plans, michigan was discussed as the symbol of where the economy needs to improve. As the former governor of the state, what did you make of that . Actually im glad the focus was on michigan. It shows different ways of approaching the economy. For example, when the Auto Industry went under, the government decided it was going to help. And offer a loan, which the Auto Industry has obviously rebounded and benefitted from and paid back in full. The point being that there is a role