10AM Hour: Databricks CEO on New Funding Round & IPO Timeline, Bullish CEO Tom Farley, Shippers Detail Hormuz Disruption 8/13/26

**Sara Eisen** (0:00)
The board recommends approving...

**Carl Quintanilla** (0:01)
Regarding that seat on the committee, we're promoting...

**Jim Cramer** (0:02)
to most quarterly earnings...

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**Sara Eisen** (1:00)
Good Thursday morning. Welcome to Squawk on the Street. I'm Sara Eisen. With Carl Quintanilla and David Faber, we are live as always from Post 9 of the New York Stock Exchange. Stocks are higher here as investors digest more inflation data this morning. We'll talk about the market's next move with former Bridgewater Chief Investment Strategist Rebecca Patterson. Plus Crypto Exchange Bullish out with results this morning, climbing after a big pullback this year as Bitcoin prices remain depressed. Bullish CEO Tom Farley will join us here at Post 9 Also ahead, the CEO of Cerebris is with us as that stock gets crushed this morning on results, even as the company says AI demand is quote, through the roof and we'll talk to the CEO of Tapestry for a read on the consumer right now as that name gets hit this morning despite solid results. But guys wanted to start with the CNBC survey, especially for Gen Z voters, young adults aged 18 through 34 We conducted this survey in August using a representative sample of about 1,000 respondents, more than that, less than 3% point margin of error. It gives you a good sense of how miserable, or at least how miserable they think they are, Gen Z.
Because we asked young adults, how would you rate the national economy today? And guess what? The highest percentage, 45%, say bad.
And then another 30% say really bad and 6%, even more, say couldn't be worse. Over the next 12 months, the economy will be, according to young adults, 50% say get worse. I mean, this is like a pessimistic bunch. In the past 12 months, have you put off any of the following for financial reasons? Taking a vacation, 47%, which is so interesting, guys, because you know, I always say watch what they do, not what they say.
They're not doing what they're saying they're doing. You know, we have been scouring all the earnings reports, and there was a trend that appeared on this earnings season, and that is Gen Z is spending big and strong. Simon Property CEO, they own a lot of the malls. If you look at the Juniors brands, which is targeting sort of the Gen Z customer, we've had 16 straight months of positive comps there, which is pretty staggering. If you think about a customer group that could be hit, it would be that group, and that's continued to grow. Both new retailers are new entrants in that space, but obviously the legacy retailers as well. Airbnb, again, they say that they're putting off travel, but guess what, growth among our first time bookers was 11%. The highest growth we've seen in four years among the first time bookers, the Gen Z cohort is growing the fastest. Tapestry, we'll talk to the CEO. Growth was led by Gen Z.
Starbucks, s'mores beverages are resonating particularly well with Gen Z. Customers, our strongest summer coffee launched in the past several years. American Express. It is really crossed the board here. Millennial and Gen Z, which make up the largest share of US customer spending remained our fastest growing cohorts this summer. Just thought it was an interesting juxtaposition. Given that they are such an important now voting class, I think 50 million Americans of this younger Americans will be voting in the midterm elections and it's a big increase from last time. They've 28 percent turnout in the mayoral.

**Jim Cramer** (4:12)
They're not eligible. They're eligible.

**Carl Quintanilla** (4:14)
There's no way 50 million of them are voting.