A long interview and covered a lot of topics. Mylan had the target on their company and heather had the target on her back as well. Not only because of the price increases but the jump in compensation for her and other executives. Bad combination about 90 days before one of the most contested president ial elections in American History and really the epipen price increase, not just this one but 17 over the past decade or so since they bought the drug from a German Company was squarely in focus and we talked about it. And in part she blamed the system. It seems everybody is taking a cut. I layed out there are four or five hands that the product touches and companies that it goes through before it ever gets to that patient at the counter. No one, everybody should be frustrated. Im hoping this is for this country. And see if she rolled back this price increase the others in the chain may not. Thats why she argued that the rebate they offered, the 300 would be a better deal for consumers than rolling back the price. A lot of people disagree with that, but thats what she is saying. Brian sullivan at hq, well be listening to that sound all morning long. Thank you very much and chuck will be on fouer lunch at 2 30 p. M. Eastern time today. Is that it . Is this a big game of pricing chicken . And rolling back would not have guaranteed anything . Its a great interview and second when brian pressed her about are there going to be future price increases she always defaulted to im running a business. Of course were going to take every penny of profit we can and as we talked about last year and u. S. Businesses have gone astray and its not about profit or serving customers or employees. Its 17 price increases over the last decade but the product hasnt changed. People are willing to pay for innovation but theres nothing about it that changed over that time and she tried to say we hid the needle. The delivery is a little bit more efficient but is that enough, do you think, for the company to kus identijustify it . Theyre doing what they can do. Lots of companies do this and the big scandal earlier this year is you do this, you buy the drug and start jacking up the prices. Valeant did this thing and when everybody figured it out they got angry justify bli so this someone of the issues with our system where were protecting with patents and time frames. In this case, especially with such a simple product you would think, you ought to be able to have five manufacturers and start competing on price rather than patent protection. John did you have one . Doesnt this feel like a defining moment . Not everybody uses an epipen but almost Everybody Knows somebody that needs this and in any other industry does this happen . If we saw iphone prices go up 17 times over the last five years under tim cooks tenure and his salary had and it seems to me like a defining moment where somebody is going to call this on the carpet. Its quite something isnt it . And its the protection we are giving them to deliver as much as they can to the bottom line. Consumers are focused on health care and hopefully it is another moment as we try to figure out why the Health Care System does not perform as well as so many other countries, including for epipens where we try to fix that as well. They tried to break down the different parts of the system. We just showed the graphic at headquaters. Is the ball in their court now to explain this . There is a system. Its very complicated. I understand how she was looking at it. Mylan does not have a right to continue to increase the profit every year doing it because it can and she has to answer for that and our Business Culture that is so focused on that has to answer for that but the system itself sure you could go after patent protection. Thats one avenue and the other is increased competition and the other is just have a massive system like medicare that has the leverage to go to others and say were motte paying you 300 youll get 50. Down 4 today. Then theres uber. Losses reportedly accelerating. A new report shows the company lost an estimated 3 quarters of a billion dollars according to a Conference Call with some investors its a spectacularly huge loss. This Company Raised 16 billion. Most of this loss is probably in china where they were getting their clocked clean going head to head with a chinese company. If we get a situation were in great shape forever. 85 of the u. S. Market so theyre going after that and that has been their objective from the beginning is we can spend now. Its cheaper now than to break in later. One of the lower parts of the original report says uber has 8 billion in the bank and has access to 3 billion more in credit. Thats a lot of money that the company gets to tap into. Its still a lot of money. You can see why they waved the white flag in china. Looks like 7. 25 is left. Thats not too much. You look at what happened over in china. Its in an alliance with rift and seems like they want left around and integrating their system so that customers will be able to get a lift very easily. Same if they two to Southeast Asia on grab. And system seems like the daytoday tactics are shifting and making things easier on drivers. Im being pushed to use uber pool as much as possible and go to spots that are convenient for the driver to get me. Is it having to shift its aggressiveness bumping up against realities here . Certainly theyre having to change the public tone and doing things that are less aggressively naked competition which was starting to irritate a lot of people. To kaylas point they have a lot of money in the bank. They have the ability in the markets in which they want to dominate to continue to put pressure on lift and others for awhile ultimately thats going to close down but uber has been staying it is profitable in the cities in which its been operating the longest. Finally an m a blood bath coming to the media landscape. Shane Smith Building a war chest to pie market share. He predicts next year will be a period of enormous consolidation in the Digital Media space. Youre going to see a mergers and acquisitions frenzy where the last two or three big boys buy the last scale place. No one ever accused shane of having timid aspirations. The elon musk of media. He says it and it somehow happens. Its amazing. How much credence do you put in this prediction . The whole Media Industry its been a blood bath for 20 years in newspapers and now the collision is happening with the tv industry which is far larger, you will see a couple of it. Its players he would want to partner with or buy. Hes talking about smelling blood in the water and all the things that vice can go out and buy. Its worth 4. 5 billion. Disney is worth 150 billion. Effectively starting with that. Now its worth 5 billion and theyre selling it and growing very rapidly and it didnt rule out the possibility. He did tell the journal he thinks theyll be worth 50 billion. Yes he did. The elon musk of the Media Industry. It also happened when buzz feed announced plans to do what is obvious and that is split int entertainment if news. And linked in and others and thats where the real innovation is now. And splitting news and entertainment is about money. Entertainment is a much safer environment for advertisers to be in and you can do things about Product Placement and theres much more concern about integrity. What buzz feed is trying to build is a modern day tv network where a tv network like nbc has a huge range of programming that they produce over 24 hours with some hard news involved. And theyre much more Product Placements and so far. Its working very well. Thats why were launching our own. Going to have a little Product Placement right here. Thank you so much. Always good to see you. Great to be here. Meanwhile markets have been lower for much of the morning. We just saw the dow and the s p go positive. The nasdaq as well. Nasdaq had seen green earlier in todays trade. Part is on the back of oil that he versed its own losses. We did get some positive data in the form of a respite for durable goods orders for the month of july. And moving higher this morning and the most recent quarter. And shares of netflix getting a boost. William blair upgrading the stock to out perform citing a strong risk reward ratio. New price target for netflix 145. Currently sitting at about 98. When we come back, why its bad news from broadcasters as the Trump Campaign continues to skimp on ad spending. Plus selfdriving Technology Investing millions in a company. Were going to talk to the ceo and then later on she is a former executive at yahoo pinterest and microsoft and shell join us at the bottom of the hour when squawk alley comes 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. [chains dragging] [eerie music playing] [crickets chirping] [owl hoots] announcer if you dont fix them, sparks from dragging tow chains can cause a wildfire. And that could be scary. Bye, smokey only you can prevent wildfires. Your Business Needs better technologywho wants to buy that to drive better performance. So you need it to be reliable and fast. Really fast. Introducing the comcast business Summer Savings event. Fast Internet Speed to drive performance, plus cutting edge wifi for your employees and customers, and voice mobility so your calls find you wherever you are. Get some of our most advanced products at a great price with over 500 in savings. Call today and ask how to get these savings plus a 250 prepaid card. Comcast business. Built for business. Lets get to dominic and get a quick market flash here. Medical shares are down about 4 now. Down as much as 6 . This after a more negatively Oriented Research report questioning some of the products that saint jude medical put out there. Its because of this Research Report. Back to you guys. Donald trump may be all over tv but hes spending almost nothing on ads. Julia is in l. A. With that. Hey, julia. Hey, that is a potentially troubling stat for broadcasters. Donald trump spent over 4 million in tv ads spending another 14 million according to nbc news and advertising analytics. Thats a steep decline from 2012 when mitt romney spent 38 million by june and obama and romneys campaigns each spent more than 400 million by election day in 2012. Hillary clinton is far outspending trump but has a ways to go. Her campaign has spent 114 million. Now theyre looking for the ad dollars to come from other political races. 2thirds of the ads are built around spending in tight races for the u. S. Senate and house. The local referendum and spesz spending. Now the media giants said in recent earnings reports theyre cashing in on political ads regardless of the frugal spending. All citing strok political ad dollars. Cbs saying they will be particularly robust. Now its the smaller local players that are suffering. Blaming its disappointing q2 Earnings Results on a political short fall saying that it will come in below its projections for this year. Now it is worth noting that all of these players are benefitting from a crazy political season that has been driving ratings toward tv news about politics and if you can include the primary race those are up from 2012. Back to you. It will be interesting to see how the next months play out. Thats for sure. Still to come on squawk alley, google, uber and apple all racing toward a practical selfdriving car but what will it take to get one of those on the road . And then she held top jobs at microsoft, yahoo and pinterest and now she joins us on the online lending business coming up. E. 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Now thru september 11th, upgrade and save on select tempurpedic mattresses and adjustable bases during our labor day event. The copounder and ceo appearing on squawk box earlier. Take a listen. They put together great teams but i wouldnt trade my team for any of those. Were making great progress and the proof is in the pudding. Were confident enough in our software that were putting it on the road in front of the public today. Joining us now is mike, the president and chief operating officer whose Company Creates part of the technology that powers selfdriving cars. Mike, thanks for being with us this morning. Good morning. So, using Laser Technology to figure out where different objects are on the road. How big they are. There was this accident that got a lot of coverage several weeks ago and a lot of people said if the car had been using it theres a greater chance that it wouldnt have happened. Whats your take on the need for that kind of technology if were going to have cars having those kind of functions and that incident in particular. Sure. We think it could have helped and youre talking about tesla and what theyre doing in general. We think they made great progress and customers love their auto pilot functionality. We also talked to many people across industry and they do have shortcomings as well as radar and they fill in the gaps nicely. You have this 150 million from ford. And part of the stated purpose is to go up into producing hundreds of thousands of units in a given year. Where are they going to go at this point . Integrating it into cars is pretty expensive. Google talked about the thousands of dollars it costs to outfit these things. You have time to build them. Is there other types of products that youre looking at that you expect to be driving themselves around soon . We have applications across the board, however were really excited because were pulling in autonomous driving as well as advanced safety features for vehicles and well see thousands to tens of thousands of seekels across the next couple of years and moving to hundreds and thousands and millions in the next four or five years. Particularly when people take the software that they develop for a full autonomy and make those cars such safer. What is it that people dont understand about maybe that this technology is going to be bill into that its not built into today . As far as its not built in today, built into pedestrians sides cars. Other applications. So were in applications for robots for Material Handling and for security applications. Were in Drone Applications for surveying agriculture, utility infrastructure and 3d structures in general and then of course into Mapping Applications for drones. How hard is china pushing on this technology . From what i hear, actually china not as excited about it in some cases because they want people driving cars. It gives people work to do. We have a different opinion. David holland created this technology in 2005 and companies have picked up that technology and we heard of positive feedback from the Chinese Government where theyre allocating portions of cities for autonomous trials. Similar to what were hearing about in singapore and strong governmental support for this in china. Its one of their primary motivators on how they can cut that number sooner. Specifically if they could pull this in by a week or two weeks, it has a difference on human life. All right. Certainly technology a lot of people are watching. Thanks for joining us. Thank you. Carl. John, thank you. Were about to see europes close today. Europe and across the u. K. In 2. 5 minutes. Sarah is here. A lot of red on the screen today. European markets running out of steam as the world awaits the u. S. Fed chair speech tomorrow. Not helping the mood out there. An unexpected drop in german business sentiment. The Business Climate index falling to a 6 month low and the president of that group saying the German Economy has fallen into a summer slump. Some of the big losers in german trade include some of the auto makers volkswagen, and bmw. Also hard for them falling in with u. S. Drug makers yesterday. This all in reaction to Hillary Clintons comments about the drug Industry Price tag which she called exorbitant. Glencore continues to drag it today. Detailed a 400 million cole hedging loss. Theyre with drawing the offer to acquire entertainment one. Thats behind peppa pig. Both sides are at odds over the price and finally an interesting tidbit in the tiffanys Earnings Call this morning. Reporting weaker sales in europe with double digits but did say interestingly we saw an up trend in the u. K. Fails almost immediately following the brexit. We believe that the weakening of the pound made london a more attractive tourist shopping destination so a Silver Lining there on what was a weak quarter but also weak european sector and all of those scenarios predicted on retail sales werent too