Good wednesday morning welcome to squawk alley. Im Carl Quintanilla along with sarahiz sarah eisen. First up, the president tweeting about jeff bezos thinking that the amazon Washington Post sometime referred to as the guardian of amazon not paying taxes, not new news. He criticized bezos for his purchase of the post during a speech in texas. I have respect for jeff bezos. But he bought the Washington Post to have political influence. And i have to tell you, we have a different country than we used to have. We have a different we owns amazon he owns political influence so that amazon will benefit from it thats not right and believe me, if i become president , oh, do they have problems theyll have such problems jason, we have the president of the United States targeting one of the soontobe richest men in the country and one of the richest men in the world. How important is this to bezos, to the post and to amazon . Listen, donald trump makes an extremely valid point. If it was 2008 amazon has been paying local state taxes in all but four states, New Hampshire and montana and the four states in our union that dont charge state sales tax. Amazon pays their taxes. So this is a completely fake tweet. Its fake news and i think donald trump is theres a little bit of projection going on here obviously, donald trump didnt want to release his taxes. And he sat on his campaign trail very clearly any smart businessman is going to pay the minimum amount of taxes. So to attack jeff bezos over the issue that is a couple of years old right now is solvable by doing a google search. So the president is a complete moron. He doesnt have his facts straight and this is just a complete and utter embarrassment for him to attack amazon on an issue already resolved and if hes attackinghim based on the Washington Post, maybe that would lead people to believe that maybe the Washington Post is doing an excellent job. I think it takes something more than a complete moron to get elected president of the United States. As much as you disagree with his politics and methods but i guess i wonder, do these tweet attacks really matter anymore . I remember when stock prices moved on them, you know, lockheed, there are all the worries of, if you get targeted by trump, that could be a real problem. I dont sense as much of a concern anymore. Amazon is up . Yeah, i mean, obviously nobody believes what trump is saying anymore he tweets at 5 00 a. M. , nobody vets the tweets. Its a complete embarrassment for our country that the president is tweeting factually incorrect stuff. This is an embarrassment you may want to sit there and be politically correct, john, and say this is not a complete embarrassment and hes not a complete idiot but the entire country is e realizing we elected a moron and is tweeting something factually incorrect. Why are we sitting here pretending this is not normal . It is not normal to tweet something factually incorrect if youre the president maybe jeff bezos was at the white house last week. He is trying to get a 14 billion deal to swallow whole foods done hes trying to expand his empire in so many different ways that it is hard to keep up. They could face regulatory headaches. And dont they have to play nice with the white house and with this administration . I dont think they need to play nice with somebody like donald trump he has not played nice with anybody else and i dont think that, you know, anything amazon is doing is out of the ordinary if you look at the total amount of commerce that is online right now, the majority of it will be offline. And even if trump somehow miraculously gets elected a second time, even when his eight years are up, it will still be the majority of commerce offline. So to really look at, you know, amazon and say it is some monopolistic power, it is not realistic. They will not be monopolistic in trumps two terms. We are sitting here with the president attacking somebody and hes factually incorrect why would the president not have his tweets vetted. There are official communications from what is supposed to be the most powerful person on the planet and nobodys vetting his tweets or factchecking all of us are subject to factchecking here on the network. Thats his appeal his appeal is that it is spontaneous, that it is real, that it is first person in an era in which people believe the government is too vetted, where you dont actually hear what is coming straight from someones mind yeah, except its inaccurate. Thats what we have to focus on as members of the media and people who are commenting on this we have to draw a hard line where he is factually incorrect. If hes wrong, we have to doubledown and say factually incorrect statement. If hes going to call us the fake news, we need to factcheck him. Todays tweet is absurd. Its factually incorrect and were sitting here discussing it. And then were sitting here discussing him bullying jeff bezos, one of the great entrepreneurs of our time . Give me a break. Donald trump cant hold a candle to what jeff bezos has added to society. Hes created millions of jobs and is a tremendous innovator and is going to give all his money away bezos is going to give his money away hes done an amazing thing for america. Trump is destroying our country with factual inaccuracy and undecipherable policies. We knew at the time of the election that part of the dynamic of this term would be how to digest his tweets, how they would play out in the market, how they would play out with company, and thats where we are today its not much of a surprise, but your point of view is taken. Lets move on to Cyber Attacks this morning spreading across europe and the u. S. On tuesday ameri merck is among the companies being hit. This is the Second Global cyber strike in as many months, jason. Once again, we are left asking, are companies doing enough if they are not, what do they do now . Whether this represents elevated strike from the wannacry just a few weeks ago. Yeah, this is Serious Business you know, for people who dont know exactly how these attacks work, they typically work through attachments and phishing, which means youre getting an attachment from a friend, log in, oh, my god, im sharing photos our i have an important business proposal. You log into a website that is not microsoft or google, you give credentials and the machine gets encrypted they lock up your data or delete it then demand bitcoin or payment anonymously in order to release it all this could be avoided with two factor authentication, people not opening attachments and updating your software so it has to happen, Corporate America has to not allow people to use Outdated Software this was a patch a month ago done by microsoft. It strikes me as we are looking at the tenyear anniversary of the iphone. And this is hitting pcs. Use of the cloud and mobile devices kind of gives you another line of productivity away from this sort of attack, does it not . Yeah, its a great point. Why is this happening. People are using old desk top software and not using best Safety Practices we have a newsletter inside security, and i was talking to david who writes it, they think this Ransomware Attack looks suspiciously incompetent and that it is one bitcoin address and one email address shut down for you to send payment to why would somebody create something that is incompetent at collecting ransom. I think it is a second wave of attack that happens here so i think if youre a consumer, what you need to know is, you need to have the latest updates turned on. You have to take Cyber Security very seriously and you want to have your data backed up in two locations, icloud, dropbox, pick two of them back it up to two locations. This way when your hard drive gets compromised, you can pull down one of the two backups. Thats a reason some of our guests suggested they call it cyber vandalism. It is a bit of chaos, yep finally, jason, the Meal Kit Delivery service blue aupon set a price on the ipo slashing the range by a third we are following the Major Players there with aditi roy hi, aditi. Reporter good morning. Blue apron could reach 35 million by 2021. Theres hellofresh and freshly along with sun basket. Some have gone belly up. Sprig and maple went bellyup. Ultimately, it burned through cash quickly and had razor thin margins and was eventually acquired by the uk and munchery has gone through layoffs and recently raised money. So what are ingredients for success . Industry watchers say the Common Thread among the Successful Companies is they use conventional mail rather than couriers for delivery driving down operating costs but experts say blue aprons biggest threat could be the combination of whole foods and amazon setting up for a food fight there. Back to you guys well see what happens there, aditi. Jason, really quick, when whole foods amazon hit, people wondering whether the deal would survive at all will it . Yeah, i think blue auppron hs figured something out. I dont think whole foods will get into the base for a little while. And they figured out something special, which is if they owned the beef producer, if they owned the farms and they go from the source to the table and they deliver, lets say, six meals or nine meals, they can take that 20 delivery cost and advertise it across multiple meals the reason the sprigs and the spoon rockets and other services died very quickly was they had an average 1. 5 meals per order and still had the 10 or 20 delivery cost. Blue apron is doing much better in that regard, but its still a very challenging business. Jason, do customers rit large really love it the problem for these services, i hear blue apron, people do it, and its not enough food youre paying the premium for not going out and doing your own Grocery Shopping at whole foods, but it is still a lot of work when you get it home and there are no leftovers im not sure i want this yeah, so these are all fair points its 10 a meal. You get all the portions set up for you, so it is pretty simple. Were about halfway to what this product will eventually look like i just looked at the startup of an oven that is a steam convection and toaster and you scan a bar code, put a box in and it steams it, then bakes it and broils it and it was absolutely Delicious Food and i am not an investor in it yet, but it is interesting you scan a boor code and it does the recipe for you it takes out two or three steps that blue apron has. So people want to have a service like this. It appeals to those 25 to 35 twoincome home. You have to have two people in the home and when they have kids, they doubledown on it. So its a big time saver theres a group of consumers who order two or three times a month. And i think its great that this is a lower price target and a lower share price because this is a directreaction to the overpricing of snap, i believe a lot of people who bought snap felt burned. It was very extensive and it went to the top of the range and now we, i think, are seeing something healthy. A Smaller Company raising smaller amounts of money at a lower stock price. Maybe that gives people buying the stock a chance to make some money instead of, like, with twitter and snapchat losing money. Right . And this is maybe a healthy thing that the markets are skeptical. I like a skeptical market. I just want to ask you about the competitive landscape. Aditi shows a number of players here blue apron could be first and biggest, but it is pretty low barrier to entry is there any sense of Consumer Loyalty to one specific brand over another yeah, in any business, if you delight the customer and they start having repeatability, youre going to have some loyalty there. But youre right, that is easier to get into. So you may have seen that blue apron bought neiman ranch or one of the subsidiaries, so they literally are producing the beef in the same way, they are direct to consumer, well see farms going direct to recipes on peoples tables. And that allows you to do the delivery costs because youre taking out a couple of middle men there. You dont have a tribute or the and dont have a retailer. You can sort of have a little bit more margin. Very challenging business. But the performance is pretty exciting and i think that is why they were able to ipo the company and i like the Young Companies with under a billion dollars going public and giving investors a chance to maybe participate again in a company that is not 10 billion in revenue. Thats a healthy thing for us and a good price there are good signs theres an opportunity here Glass Half Full well see what the pricing looks like tonight and the action tomorrow jason lighting up the phone lines again. Well see you next time. Jason calacanis joining us there. And we are introducing a new Autonomous System from gm. Phil lebeau is out on the road joining us as a special guest. Hey, phil. Reporter thank you very much im joined by johan driving handsfree heading north on the 280. We are in a cadillac with the new super cruise technology. This allows handsfree driving on the highway, right . This is the first car designed to be totally handsfree on the highway. And absolutely stateoftheart. Do me a favor, a hold up your hands. You are not holding up your hands at 72 to 73 Miles Per Hour the difference is theres a small camera watching your eyes. How much of a difference maker is it to convince people, this is not just autopilot, so to speak. You have to be engaged with the vehicle . Well, the reason were able to deliver fully handsfree capability is precisely because we have designed the system to engage the driver. And the sensors embedded in the vehicle surely make sure the driver is alert. You dont have to drive, you can have conversation and dialogue as we are doing now. You can operate the system, all things you like to do. But if the system determines you are alert and able to convene, it will happily control the call for you. If on the other hand you see signs of falling asleep, the system will alert you with prompts to ensure youre able to take control. Is the amountdrowsy driving under appreciated here, the fact that so many people doze off when on the highway. This system will prevent that from happening every person watching this will have their own personal experience of driving while drowsy and certainly, that is an important consideration. We think that, also, distracted driving is a big influence on Vehicle Safety but thats also the consideration of just convenience. We have seen how the cities have evolved with absolutely unpleasant driving conditions with heavy traffic these kind of systems boost safety and comfort and convenience. Reporter we only have a few minutes left here, but two quick questions. First, is this a big difference maker related to teslas operating system to say you are taking this to this next level absolutely. This is the first system to allow completely handsfree driving. And also, while we use the same type of sensor technology, we have on top of that also very precise data that allows our vehicle to know exactly where it is positioned and what the Road Conditions are like at that point. So it allows far more precise control and execution of autonomous capability. Reporter do me one last favor, we are not endorsing texting and driving. But look down and then well hear the system engage, right . It depends on the speed, the higher the speed the shorter the duration its going to make a sense judgment on conditions so slow speed driving, the system would probably not respond very quickly on the conditions were at now, the system is clearly still of the opinion that i could look up at a moments notice but its taking a look if it were to become concerned that im not paying attention, a blue ball would light up on the steering wheem an ining wheel at engage there it is flashing reporter close your eyes guys, hes closed his eyes and well see how the system at some point here this has been four to five seconds. At some point its going to prompt us. Its been staying in the lane, nothing has changed. The car is fully in control reporter fully in control. It is taking the actions necessary. And it begins to flash the light. And eventually if the light turns blue, eventually there it is flashing right now. It just started flashing. Vicinias long as it sees me n at the road, it will relax once more reporter a little taste of the Gm Super Cruise Technology we start Series Production in september. And the car should hit showrooms by october reporter the car watches you while you watch the road back to you guys while you are doing an interview, another perk of handsfree driving amazing, phil. What is the closest thing on the market to that thing, the tesla autopilot . Reporter johan just said, this is kind of fun. It will get compared to teslas auto system. But the key difference is you have a camera watching the eyes of the driver. It is engaging you you dont get that with the tesla autopilot system this is only on the highway, by the way, super cruise. This is not for driving in neighborhoods. You can only engage it on the highway. And eventually they probably will expand that technology. But for now, its only on the highway. Look at that, were in san francisco, and lo and behold, we are driving into some rain into some rain, did you say be careful keep your eyes open. Phil, thanks reporter it will make sure were doing that see you, guys. All right our phil lebeau. That was a first when we come back, the amazon echo show officially shipping today usa todays columnist will join us on his initial reaction. At first, well take a look at the big financial stocks stocks are surging thanks to treasury yields. Be right back on squawk alley. T looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in