Black Friday, Live TikTok Shopping & RFK Jr.’s Plans 11/29/24
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Our goal is to empower you to be a Better, Better you, James teachings. I was able to learn and become financially independent in my retirement. Join the club with jim's best deal of the year at C N B C D com slash club like friday, terms of restrictions, supply.

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This is quake pad from c nbc on today's episode. Shopping season begins. Maybe the walls aren't as busy as theyve been in the past, but online is a buzz with live shopping, a kin to well years past.

This is as Q, V, C, IT works.

That's gary van or truck or gary v the social media and marketing expert says influencers are taking their cut this holiday.

There are unbelieving amounts of people making over million dollars a month already on tiktok live shopping.

And for some who've already made their millions and billions and trillions, they're not keeping IT all Robert Frank says, don't worry, warn buffett and bill gates, warn their families about charity giving look.

tell your kids about the will and then have that discussion while you're .

alive and doctor Scott got leave is raising his concerns about Robert f. Kennedy, junior, the president elect pick for health and human services.

I don't think the president wants to see a resurgence of measles, wants to see a urgence of hooping confidence country. Got for that. We have cases of pollution in this country. He does not want to see that. I think he understood the importance of the child humanizing schedule.

All that plus the ftc probe into microsoft and uber and much more i'm seen bc producers at VC. It's friday, november twenty nine, black friday, twenty twenty four square d begins right now.

Stand back to buy in three, two, one, cute.

Good morning, every happy black friday. We hope you had a wonderful things giving holiday. Welcome to school box right here on cnbc where live from the asdep markets.

I in times square, I back you quick along with a Robert Frank and Steve lasered joe Andrew off today. We've got everything at a control here in the house. I'm really glad to see both you guys this morning.

Great to bear. Oh.

because I great. Yeah, I hope because i'm great. Thanksgiving holidays.

A A bit of a trip to pan hanging over.

But I was going to say was nice when you go out begging, you feel the next day i'm sort to fill in the fu.

The next sorry, this next story is really pretty important. I think came as a bit of surprised, at least the timing on some of the stuff too.

I guess someone to really think there go. Thank you, Becky. That's a great set. We are watching shares of microsoft this morning afterward that, that the ftc is launching an anti trust investigation into the company broke over the weekend.

Megan cassella to just now with a surprising thanksgiving, what do you call IT the microsoft ftc? RAID knows not a RAID yet. T A .

thanksgiving surprise. That very Steve, good morning. A source confirming to see nbc late wednesday, just before the holiday, that the ftc is opening a wide ranging probe into microsoft looking at whether the company is violating any trust law in a number of different aspects, its software licensing, its cloud computing, cyber security programs and AI products.

And one focus here is whether microsoft uses its licensing terms and its market power to keep customer sort of locked in to its azure cloud service and then to prevent them from moving their data elsewhere. Shares down just about a half a in premarket since wednesay y's closed, the ftc has reportedly guys been looking informally into microsoft for more than a year, but now they've sent the company a detailed request for information. That's why we're learning about IT now.

And this comes, of course, just a couple of months before fdc chain. A kon is almost certainly out of office, making this sort of a swan song or parting for her as SHE caps off her term that's been so focused on big tech, we don't know yet who trumper want to lead that agency. And while there are some populist tendencies in common between trump and kon and J.

D. Vance, it's just not clear what would happen to the investigation went. Trump does take office in january, so lots of questions there and lots still to watch.

as this case most for IT guys. I have so many questions, but first of all, i'm having dasya vu all over again. Didn't we do this once? I don't know. A decade ago or more.

when did we .

last say microsoft was using its licensing power to you remember, mean, be able to report you don't remember because you're too Young. But when? When did this? I don't .

remember IT. IT was twenty five years ago, Steve. So they not quite ten years ago, but twenty five years ago that they last moved into micros, looked in the microsoft and you know there are suggestions that that case, that investigation was what allowed google and others to sort of grow bigger since I was so long ago. Now though in recent years, microsoft sort have been left out um as the ftc and others have gone after so many big tech companies until about two years ago, we saw the european commission do this this summer looking into microsoft and as your cloud um at that point. And then because microsoft has had some security breaches in the last few months, that sort of payed the way for somebody is proposed to move forward.

IT looks like the security breaches. I mean, this is a huge deal because that affected the government in in lots of ways. And I think I kick things up and started things up there.

I would guess that some of the OpenAI and A I issues probably start things up to if you go back a year ago with all the splits that happened with OpenAI, how microsoft came in at that point that start up a lot of questions to microsoft. By the way, you've been pretty phenomenal in this century, in the last twenty four years in terms of how it's worked with washington. If you think of brad Smith and how he goes down to washington, they learned from what happened in the nineteen nineties that they did not want to.

You give the, the, the highs men basically to the government because that gets you in a lot of trouble. You're never going to win when the government wants information. So they have been very CoOperative in all of these things since then.

I think the big question is what happens under a trumpet administration. But a trumpet administration is what started lots of these investigations into the big tech companies to begin with. So just because the trumpet administration is going to be more anti regulatory looking ways to strip down regulatory actions, I don't know if that holds when IT comes to some of big tech companies. What do you think like .

an that's exactly right, that there is sort of some a strange bedfellows here that this trump White house in the first tourney, we expect IT again in the second term to be sort of tough on big tech. I think you guys hear the headline earlier of mark zuker being down in mario go. I think a lot of these CEO recognize that and are trying to get out ahead of IT and trying to do what they can.

You write that badd Smith is here all the time, and having that savin ss of being able to go to the White house, to go to the hill, putting yourself in your in front of these policymakers goes a really long way. I think that will be really, really interesting to see who goes at top. The ftc, remember, in that brief period when mat gates was the attorney general nominee, the f that proved in a conclave.

D was actually really pleased with that pic for ftc, reasons. For any trust reasons, he'd been supportive of her. You remember the conservative discussion and a, the fact that we don't know the same about ten bondi, which means that might IT raises more questions, I would say, about who gets the ftc.

I'm interested in this idea that microsoft is doing what is best for the consumer. For me personally, boundings stuff together so everything works seamlessly. That's what gets IT if i'm reading this right again and I maybe reading this wrong, but IT sounded like it's the idea of putting all that stuff together to work, seen as the as a consumer of tech and i'm a major consumer of deck here. The fact that all this stuff works together helps me, but this is what gets in the trouble with .

the government unless the cyber security stuff is weak. And I think you .

should have stronger.

but that's not a to break up. This is part of the reason that the government investigation .

kicked into higher, but it's not S C U. I don't make if you have a comment on that. Is that is that right? That it's the bundle ling of these things together that is the government's concern.

very likely. So we don't have that many t leaves to do that. We're going to have to wait to hear more from the ftc.

We do know what happened in europe that was IT was about bundled ling IT was about the fact that their microsoft teams was coming alongside microsoft outlook in office at all of their other programs and then others competitors like slack, for example, or maybe zoom, couldn't compete as well because they were all coming together, just like you say, city. So IT is difficult to know. One of the things that companies love so much about microsoft is the integration there. And so is the bungling that also something worth breaking up, that I think a big part of what this this investigation at least is likely a hinge hn.

making, thank you very much. Great reporting. Started ruin your holiday.

Also also worth noting that stock is only down point four nine percent. This morning is up fourteen percent of the year. So either investors aren't concerned about IT, they think that the new trump administration is going to emeline ate this in some way or they they just think that micros .

strong is from you, doesn't seeking information yeah and coming added. So we don't even know if they bring something. What happens with any of the stuff. And IT is that this transition period begin.

I know we have to move on, but one of the theories of the case here is that some of the pricing and inflation we had as a result of monopoly that we're out there or a lack of competition in pricing, and that has been what do you call IT a motor opponent? I of the bite administration. And then to your question back, you, the question is, what is the theory of the case of the trump administration .

and the the new thump t administration tech folks? What you're talking about, elon mos Peter teel, who has a lot of influence through his surrogates or jd events, they are small. They are anti big tech. So I think when you talk about .

elan muscle is also very OpenAI anti OpenAI.

There are all at microsoft, the anti google, ani, amazon. So I think it's hard to just say pro business because even within tech, you're looking at this split.

So Better way. And if you saw the video, elland mask and maybe sk at least were at the table with Donald trump, barn trump and miloni a at think's giving down a morococha to the .

other .

thing is that what they do is they lock you in with these fees for software. Yes, right back in the day, you would just buy ninety dollars for whatever. Now do you just get these credit card announced that they just build you for three dollars a month? There's something .

forever .

to the speaking regulation.

Separately, the ftc looking into whether uber violated consumer protection laws with its uber one subscription service that program gives discounts on rides and delivery waters and exchange for an annual e ftc is investigating the enrollment and the cancellation process of that program. IT is recently brought lawsuits against companies including amazon and adobe for allegedly making IT too difficult. That steep.

Just mention to cancel scription. yes. Now in a statement to seem to see uber, said the uber one cancellation process follows both the letter and the spirit of the law.

Uber one members can easily cancel their membership in the APP. In fact, the majority those cancellations take twenty seconds or less. Yeah for you, dara.

Um we will continue to answer any questions the ftc may have about our cancellation policies. e. Ftc probes do not always lead to enforcement action.

You know happened to mean the last couple of weeks, my credit and there are some product productivity on IT cancelled IT the best benefit out of IT.

It's pain to go back. All this didn't realize I didn't realize .

I had or that I wanted to cancel and couldn't through all gone, they're all contacting try .

to these companies that, that are doing a business, business in. Basically showing you what your subscriptions are, cancelling the ones that have been activated so that others the business showing you all the subscribe and that's .

the subscribe business too much your card three.

and you don't .

really want to sever .

been the dumb economy, all the subway and we that we and I think people actually as part of the business plan.

well, at the box office, disney mova two dominated in its wednesday deb wrapper, up fifty seven and a half million dollars in north american ticket sales. It's projected to bring in at least one hundred and seventy five million dollars of its first five days in the theatres, and that would make IT the biggest thanksgiving hall of all. Tight overtaking frozen tools record of one hundred and twenty five million dollars saw a bad in variety.

But I say what? That's not going to stop a single family from going to see this with kids who are looking for new content in the meantime. Versus weekend brought in twenty point four million dollars on wednesday. IT is expected to bring in ninety seven million dollars over this five day holiday period. And then you've got gladiator two, which brought in six point six million dollars on wednesday, and distracting for a five day hall of forty million dollars.

We go on back to the theatre.

I got tickets to glad atter today. We're going to moon a two on saturday, maybe wicked on sunday.

They were liked or validator what.

But you go back to here. No, you know.

it's interesting how much we talk about movies. But if you look at there was an interesting stat, movies this year will be about ten billion. Video games will be about one hundred .

billion dollars.

That's a fair point. So it's but there's these are great movies. I love, love to see all of them, but it's such a drinking and small part. I enjoy .

somebody hours in the day.

yeah. I personally enjoy going to the theater by myself and having the theater almost completely the empty. That has been something .

that has been of money.

No, no, no. Sometimes in the, and I got .

the middle .

the week or something .

that exactly.

Robert, you've been taking a closer look at terrible giving by some of the world's richest people. What do you find?

IT. Well, I beg to started with that letter that you read earlier the way from warm buffer t, and that was because he was announcing that he's giving another one point one billion is family foundations. Now he's already given away sixty billion dollars, which according to force, makes him the biggest giver in dollar terms of all time.

And he's just getting started. His plan is to give away all of his bertier shares to his two sons and daughters to distribute to charity. He has given away more than half of his shares since two thousand six.

So if warn buffett had never given any shares to charity, he would today be the richest man in the world, worth over three hundred and thirty five billion dollars that would elon musk s by about ten billion dollars, by the way, of bill gates had and sold, or given a way, a single share microsoft after the IPO, he would be the the first trillionaire today worth one point four trillion, equal to four e on us but that saying this letter, in no way did I or anyone else dream of the fortunes that had become attainable in amErica during the last few decades. IT has been mind blowing beyond the imaginations of fort carney, Morgane or even rock fellar. Billions have become the new millions.

Now the chinese for buffer, and his children will be in dispersing that money, one hundred and fifty billion dollars during their lifetimes. Now, for more and how the wealthy are giving, investing and spending their money, you can check out my newsletter, inside wealth that seem to see that com slash inside wealth. And I have, uh, what I said, where the four rules of giving from that buffet letter, which interestingly, he said, you parents should read their will to their children while the parents are still alive.

And I talked to a lot of wealth management firms of private banks, that said, clients, a lot of wealthy clients, saw that buffett letter and are now calling their advisers, saying, should we do this? And IT is a very good idea to do IT. Maybe not everything in the will all at once, maybe a longer conversation over years and which you driver out some of IT.

But I think he's also said that what is the children didn't art when they were absolutely. It's not something you do when the kids are Younger, but when they're older and you have faith in what they are doing in this point has been you don't want to leave this for them to be surprised when you're gone and then have resentments or not understand or have anyone be able to explain to them why you're doing this?

We ve all seen the movies and is true. Where is something that the the eternal, the will and one siblings upset? What did dad or mom give IT to them? And his point is he has done this with his children as their adults over long print, and he's made changes to his will as a result of that.

So it's helps both ways. But IT is a really wise piece of advice that is already making a huge impact, as he always does, on wealthy. And we're looking at eighty four trillion dollars. It's going to pass from older generations to older generations. So this is a huge deal among the wealthy.

The number one issue right now, not how much money am I going to make up for the next years, is how do I transfer that to my kids? How do I raise my kids in a way that's not going to make them spoil and warm? Buffet has contributed to that debate a lot by telling, look, tell your kids about the will and then had that discussion while you're alive, don't save IT for late.

And by the way, did not give a whole lot of money, relatively speaking, to his kids with this. His late wife, Susan buffer t had given each of them ten million dollars when he passed away. That was the first large some of money they ever got. And they are giving away one hundred and fifty billion dollars are going to be responsible for that. But it's a this point was give them when they were Younger, he suzy buffet thought that they wanted to give their kids enough that they .

they could do thing not so much that they could do nothing which is such a great phrase and a great we are living but ah and so he appointed three other trustees were Younger than his kids because this money may well outlive even them but that's .

the law of compound. Interesting is the thing, and interesting the most. He's given .

away form is grow to the yeah .

yeah want .

to have these problems yeah we he's will be .

next next on squat pad. We're talking america's health with former F, D, A commissioner doctor Scott gotlieb. He served under Donald trump in his first administration, and he says, R, F, K, junior at the home of health and human services is deadly serious.

They could depend asset the adviser recommend to the C, D, C, and issue new recommendations that are not binding to states, giving states covered to move away from the childhood muni zing schedule. They could frustrate the vaccines for children's fund, which vaccines fifty percent of all kids in the country.

Experiences the power of cnbc prose best deal of the year, track your portfolio from every angle on one of platform, get the power of C N B C pro and C N B C I comes flash pro, black friday terms and restrictions apply.

Welcome back to school pod from cnbc today with becket quick, Robert Frank and Steve leeman. Here's robber shares applied.

Their appetites are plunging. After the fda declined to approve its drug to treat a rare genetic metaphoric disease, IT was said to be the company's first commercial product if, days later to the company said the marketing application for the drug could not be approved in its current form due to certain efficiencies. Apply their appetite is reviewing that feedback complaints to immediately request a meeting to discuss requirements for submission.

There has been a lot of big news in health care over the last few days, president show bitten proposing expanding medicare and medicaid to cover obesity drugs, that a move that could impact millions of americans. Meantime, president elect Donald trump has made all of his picks for the healthy related team and joining us right now to talk about all of this and what that means to the sector is doctor Scott gott.

Of course, he is the former fda commissioner under the last trump administration. He's also A C, N, B, C contributor. And Scott, you still a board member? Advisers, okay, and a board member, adviser, let's jump in, in the us.

And why don't we start with the incoming administration choices? Because there's been a lot of consternation, lot of people who have said way to second with R, F, K, junior heading things up. What what do you say is somebody who served in the last trumped minute look?

Well, I have deep concerns about Candy stated intentions to all back core public t protections, particularly or released to childhood vaccines. He's brought in a very experience ed team, a lot of lawyers from the children's defense fun, which is the antivari organization. These guys are capable.

I think they are deadly serious, have been very clear about their intentions. And I think sometimes you have to take people at their word. And just to sort of level set where we are right now.

We're going. We had five thousand cases protester last year. We're going have thirty thousand cases this year. Pregnant women, for the first time in a very long time now, need to think about protest as a restore and pregNancy.

And if you look at vx nation rates for m mr, there are states that really are the tipping point, terms of reduced vaccination rates her community has achieved at a level of about ninety five percent coverage. If you look at idaho, it's at seventy nine percent. Are you look at alexa and with constant eighty four percent minnesotan, eighty seven percent floria, colorado, oklahoma, George and utah, eighty eight percent. When I was at fj in two thousand eight and all those states were in the low nineties, if we lose another five percent, we're going to be in a position where we see distributed outbreaks of mezzo. And that could easily happen in the next few years.

mr. Muzzles month revenue protesters .

is wiping off.

hoping off. So you're you're a physician. What do you worry about? What do you see?

What I worry about is that we're different point. We're going start the epidemics of diseases that languished. And god, for a bit we see polio reemerging ous country.

This could happen the next four years, especially with emr. The missiles vaccination rates have dip to a point. We're at a tipping point right now, another five percent down and will be there.

所以 就是 you arn about this.

when you are at the F, D, A, you said because of vaccine, has not hesitated the in this country, because of concerns about the covered vaccine. You worried about what that would mean for all of these other related diseases and the vaccines that we have. Which vaccine should we be getting? Which should we not? Because our kids unior his soft understand.

If you go back and look at what he said back to two thousand and thirteen, he talked about how vaccinating children and trying to cover pretty problems from IT is he's liking to to abuse by the catholic church, sexual abuse of children. He said that what the cdc was doing in two and nineteen with code of vaccines was vaccine. He's talked about jAiling vaccine scientists in the past. 我 我 now he sounds a little less stripped in some of the comments that he's making， but you don't believe.

well, I don't think he's less strident. Look, this is a post covered environment. No question about IT.

I was against the Mandates. We talked about this on the show. I was against the covered of vaccine Mandate because I worry that I would breed vaccine hesitancy.

I think we are see now is people coming into the political spectrum praying on that, and they're deadly serious about the policies they're going implement. So what could R K. do? And he's committed to this.

He's committed decades of his life to this. He's not onna back away. They could, despite a IP the advisory, commit to the cdc and issue new recommendations that are not binding to states, giving states covered to move away from the childhood zh schedule.

They could frustrate the vaccines for children's fund, which vaccines fifty percent of all kids in the country. Basically, for example, tying states that wanted use that money to vaccinate kids to certain reporting requirements, like reporting on immigration, religious status for children, those are easy things they could do, administrative ly, and that would make IT very hard for states. Take the money.

I'm not laying out their road map. They know their road map, and this is their road map by bit in policy. I know what these agencies can do, and I know what they intend to do. These are, these are very serious people. He, he is smart and his team is very capable around him.

So whom have you spoken with in the trumpet administration at this point? Or in the incoming and administration? You are somebody again who served in the trump administration. What if you had to say to them about the .

they know my views? I've been clear about them. I've had certain conversations. I talked to president trump about vaccines in my first term. I don't think that these these policy efforts reflect his views as well.

I don't think the president wants to see a resurgence of measles, wants to see a recurrence of hoping for this country, god forbid we have cases of polling this country. He does not want to see that. I think he understood importance of the child humanizing schedule.

I'm not so sure that people really understand how Kennedy es intention is, are going to translate into policy and how seriously there was an article recently. We're one of his confidence. Dell big tree, who's gonna probably brought into H A chess, said, you know, he didn't get inside the castle to to forgo his long health beliefs. They're gonna fall through on these.

the H S. S. What do you think a immonen o, who has been wanted to? H.

H S, yeah, I don't know. jim. Well, he was there when I was there.

I think marty is a good pick at F, G, A. Martin Carried F, G, M. I have confidence in him.

I do think of can be a transformed to pick up at uh, C M. S. Center for medical medicate services. Do you think about today's senior citizens? They grew up watching him.

I think if he plays an external role in what? Well, look.

I don't think he's going sit meetings all day figuring out in part be injectable drug conversions in the muncie that organza. I think he's probably gonna play more of an outside game trying to lead to health and wellness and american seniors. I think you could be very good at that. So there are some qualified.

very capable of doctor s doctor materia, by the way, practicing physicians who both that I know, people who who they have both treated in their Price of physicians. These are serious.

I know Martin and he is a good physician and and a really good thing.

R, F, K, has to be confirmed, right? 而 一 urging， republican senators did not confirm him. Look.

I think that there's skepticism in the republican caucus more than I think the press is reporting right now. There is gonna be x state centers that are concerned about his impact on food Prices. There's gonna principled pro lifers who are concerned about his positions on abortion, and there's gonna be a number of public health minded senators who have deep concerns about his position on .

if you were talking to republican center, would you say that the element of r fk could cost lives in this country?

I think if A F K fall store in his intentions, and I believe he will, and I believe he can IT will cost lies in this country. You going to see, you're going see muzzles mums and rebellion. Vaccination rates go down.

And like I said, if we lose another five percent, which could happen the next year too, we will see large mussels outbreaks for every one thousand cases of mussels that occurred. Children, there will be one death. And we are not goods.

This country at diagnosing and treaty measles. If you look at the outbreak in ohio, thirty percent the kids were hospitalize. You look at the outbreak of so to twenty percent with hospitals because we don't diagnose IT quickly, because dr. Los, we lost the ability to diagnose IT because doctors are in a company to seeing IT and we don't know how to manage IT and health cases.

And by the way, if you have a new child, that child can get into what or something for not.

and they're very vulnerable. And remember, maternal transmission of measles, congenital missals causes serious consequences. And pregnant y, so you know, adults and women are going to have to think about, do I get a boost? Or protester is certainly something people need to think about right now. Like I said, there's outbreaks in multiple states, and that's only gonna get worse.

I worried about meals with my infants because they're not a mean for a while. If you have older kids who are in the schools, if there, if there's an outbreak, anything that happens there, you can protect these children. And even if you're staying at home with them all the time.

And remember the C, D, C, A point is someone who is a very committed and diva's, and I don't say that a majority way. I think he would own that label very proudly. He was a congressman when in nearly two thousands, he sponsored multiple bills to withdraw the current m mr.

Vaccine response bills to do away with the liability protection that allows companies to bring these vaccines onto the market. He force to eight formulate the existing m mr. Vaccine to take some of the preserve ves out that we use, which ultimately LED to an increase in cost those vaccines and probably reduce back nation rates. So he is very committed to this too.

It's got people will look at this who are on that side of things and say, of course, that's what god leaps is because he's on the board of vizor and they're a big vaccine .

machine but don't don't make the pediatric vaccine so fires not that market um this market is glaxo Smith kline works and know if there are other companies doing .

this mention present trump doesn't support. Allow these policies or at least you don't think he does. What are the guard rails? Whether it's congress, whether it's other cabinet members that could prevent all of these from happening to the degree that that lets say R K moo.

I don't think there are guard rails and I I don't want to speak for the president. I think I understand his ethos and I think he has a strong public health ethic as well as the people around him. So I think they fully understand how Kenneth going to translate his actions into policy.

I think some in congress right now, who would deeply skeptical, think that they can manage this through things like appropriations writers that's not gonna successful. Because, like I said, R, F, K, can go there with a stroke of a pen to spend a separate constituted with like minded people, issue a whole new bunch of recommendations. He can frustrate the ability to take the money from the vaccine for children's fund, which would impede state abilities to vaccinate child.

As lot of things that they could do day one, very easily administrative vely. And I don't think there's a thing congress can do and that, that is dependent upon congress getting bills through an appropriations bills. I would actually tie the hands of cdc and Kennedy, and i'm not sure that will in congress is there to do that.

Spoken with the individual senators about this.

I had conversations and i've raised my concerns.

and i'll continue to raise my concerns and acidly.

Thank you for being here.

Cern still become on squad pod black friday takes tiktok and instagram and snap we talk to social media and marketing expert gary van or truck.

Ten years ago, I used to go on this program and others and talk about influence money, and I got a little, and now it's a multiple billion dollar economy.

Gary v explains how influencers are making their mark this shopping season right after this.

Our goal is to empower you to be a Better investing James teachings. I was able to learn and become financially independent in my regional. Join the club with jima's best deal of the year at C N B C, that com slash club like for friday, terms of restrictions and supply.

This is squad pod.

You are watching square box right here on C, N, B, C, and back you quick along with Steve leaseback and Robert Frank john and are both off today. And black friday shoppers are coming out early searching for bargains. The doors just opening at the all of amErica that is the nation's largest shopping center in bloomington, meos. Ta, it's just outside many apple is the national retail federation predicts nearly one hundred and thirty two million people or seventy two percent of americans will actually shop today in store and or online. But there's .

no stampeding and no tramping.

and they stop doing very well. I used to be more that would do.

But t there? There were .

actually big problems. First IT was stampeding issues, that problems with, and then IT was the issue of not wanting to make your workers work on thanksgiving and come through. And that was something during the cover pandemic that they really reached out to the workers who were in on the front lines all the time when everybody else was working from home. That's one thing changed.

Now you have a nation of disappointed TV producers right now that looking for the video, I know video, come on, people, 就是 people .

filing in here。 Social media shopping is booming this black friday with millions on social media buying new products and brands, and now live shopping events are drawing real time sales and exclusive deals in us right now is gary venner, truck chairman, and gary welcome. It's great to see this one.

to see all of you.

So what's the live event? Is this different thing? PVC shopping?

Not really. Yeah I mean, it's really you know when this is the year, I mean, next year, this this can be a huge topic for everybody who watches this program and you'll be talking about this IT really is qvc on social other than the way the algorithms work in social. Now when a person or a company goes live, they're going to find audiences.

The algos is going to bring IT to you so that we see qvc home shopping network. And eighties, the consumer had a click and go there. The fact that i'm going to be in my feed and then boom, there's a live shopping event and boom, the algo knows I like t shirts or vitals or beauty and I get IT. That's going to be a big factor.

Can I just say like you're going to to sell me on the live events because I already buy a lot of stuff on instagram where it's a pretty effective of ad. It's flash IT shows me how work. Yes, the video makes me think, yeah, I want this.

I don't know if I want somebody talking about music. Hey, by this product, you get this much time to do that. know? I sell me on this. Why do I need something more than what's already selling me on instagram?

But I don't really want to sell you. It's been sold, meaning there are unbeliever amounts of people making over million dollars a month already on tiktok live shopping. So it's not about you know convincing. It's about the .

are those are vendors. Those are several companies are making a million dollars a month.

yes. And yes, right. So they .

have a product.

yes.

as well to that.

And hacking a product, yes, that as well. This is, look, this is going to be master again. This is such a global platform. This has been going on for a decade in china. I've literally have watched the stuff I literally been waiting for ten years for this like there's videos of me in twenty fifteen.

This is coming IT seems a little hole care than some of the flash ads I already get that I think .

you appreciate this some print. Let's talk about IT historically, what you're talking about is a print that in essence, IT just happens to me and o shows .

me product .

that's vio. So that's a commercial if it's an image that's print. And all this is as qvc IT works.

I can speak for myself. I have a pokey mom like brand called be friends. We're doing life social shopping on doing seven hours. Ironically, today about IT.

we going to be for seven hours .

on from twelve to seven today and what not, which is one of the platforms that's emerging. And three mondays ago, we saw forty thousand dollars with the t shirts. And two hours ow that if I and we're good at this, did my best social media non live shopping advertising. We sold three .

thousand dollars. Convinced by numbers like that, we just did a shot from the mall. Yes, miss, I saw not a whole lot of people .

there is this one, but we used .

to do. I been in a long time, use openings .

at six and door.

Is your investment? Is way this 眼睛 retail？ But is this take that away from target? Is to take you away from warm?

I'm glad you brought this up. The rest so excited to be here is every retail, every cpg, this this is going to be, over the next decade, a consumer package. good. So if you're proctor, if you're pepco, I mean, this is going to be a major deal because don't forget we have a major channel conflict wars between the package, good companies and the retailers and the amazon's and the walmart are taking media dollars now away from social, the overall impact to consuming products and to retail of this dynamic and social shopping. And now the social networks taking in eight percent, rake on every transaction.

eight percent.

some but eight percent, and then a three percent process fee. But again, this going to hit mainstream if you're a Normal store in a small town in jersey or california. Nia, on wednesday at three pm, there is nothing going on.

To your point, the retail traffic is changing. The fact that you can turn your little boot teek into a studio now and go live shop. Interpreter.

urs, entrepreneurs can do this too. If your small business, you can go right out there.

Ten years ago, I used to go on this program and others and talk about influences is going to make money. And I got a little, and now it's a multibillion .

dollars economy.

Me, yeah. this. I would argue that live social shopping is the only potential thing that amazon should be working worrying about in the domination. That's how big this could be.

That's really amazing. And I guess the who this is disrupting is traditional media who might have been pitching .

you these ads before, yes, but it's also the disrupt retail like this is another don't forget, attention ultimately is the ultimate asset. These social platforms have the attention. We're going to now shop in that environment. That's going to affect media, that's going to affect retail and that's going to affect the product service.

The social media companies make money on there. Yes.

again.

they make a percent for twitter and good for maybe some these other.

There's no shot in twenty twenty five. I can't wait to come back in six to twenty five month when this happens. There's no shot that meta, tiktok, youtube, google are not going to be yelling and screaming about this.

X will have this. This is too big. It's happened.

Who is the best edits so far.

tiktok? And it's not tell us the name of an influence or or two that that you think had made a tony money from this or leading this.

You know, it's funny.

And what do they do to be so in front?

So what i'm paying attention to more is the brand. So mary roth organics is a brand that's really doing this well. They're selling.

They've ament. It's kind of a modern vitamin company. You saw IT was funny. I was talking to moon does and back you shows the top three things that we're selling write t shirts, vitamins and beauty.

And I looked at them and said, all three categories that are crushing right now on live social shopping ever can be in fish. I don't know if you're paying attention that they are getting a reboot. And then there's also, I think you guys covered this.

I don't know specifically you, but chilies, the restaurant company, there was one tiktok. This is not live social shopping. This is just social. One tiktok that went viral, that represented forty percent of its cute reed growth. One tiktok that went about IT, was a triple cheese casa, a wan even time offer, again, mango gumming private label, mango from wall Greens, the ocean spray thing that was well covered.

telling go. But I have to make a point, please, is that one of the what do you post mortems on the election? yes. Was that the trump administration understood tiktok in a way the biden, the trump campaign in a way that biden, biden. And I think what you're talking about now, its investors need to understand .

that the battleground on social will impact every single, every single stock on the market.

Gary, really fascinating. Thank you for company today. Great to see you.

That's the pod for today. Thanks for listening. Squad box is hosted by joe kernin, Becky ick and Andrew ross.

Scan two in weekday mornings on C, N, B, C, at six. Turn to get the smartest takes and analysis from R, T, V, show right into your ears. Follow school pod wherever you get your podcasts. We'll meet you back here on monday. Have a great weekend.

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