diverse depositor base, through no-fault of the regional banks, that were getting slammed in the last week. right. neil: their customers wonder. well, listen and you can t blame them. can t blame the customers from being concerned about that. now, if the if the regional banks are not under the demands that sivb was, there s not that risk, no reason to have that here, but you can t stop someone after they re witnessing to be more protective and kevin o leary, if you re spreading out your assets amongst three or four different banks you re going to reduce your exposure, but i suspect you re going to have some people that are going to do exactly what you suggested and going to try to move their money and that may cause some kind of uncertainty and some volatility in the days ahead. again, i would say if the regional bank is not in that space, that tech space, that venture capital space and
having worked in the government for almost a decade you see that, they are clocking in, clocking out, just not necessarily being as effective as they can. my dad was in the marine corps and he d be like yeah about 5 percent of the people do. or undermined the president. but what i find interesting is of course the tech space, he came from biotech. he has this one platform which he publicized on twitter where he s going to go after said central-bank digital currency. fate at the fact that we may be thinking about this, what that would do would be to centralize how americans use their money and look at their money that is helping us walk into chinese social only your carbon emissions were too much, we are going to shut off your credit card. i wouldn t be able to shop. i love that he is doing this talking about this.
chinese company after it got a warning from the air force that it would be a national security concern. it was time to say no. not in grand forks. it was a long process but i don t think in the end if that s a threat it won t move forward. they legally own the land but not be able to build anything on it. beijing s influence over the united states is also growing in the tech space. more than half of states in the u.s. are banning tiktok from state-owned devices because the data could end up in the hands of china via the tiktok parent company bytedance. about 2/3 of lithium that goes into batteries for electric vehicles, phones and other electronics is processed in china. if we haven t learned yet we need to decouple ourselves from at least our food supply and energy supply and critical mineral supply and
the united states. we ll have complete coverage on the federal reserve decision later on. paypal, the latest tech company to announce thousands of layoffs following the lead of google, microsoft, salesforce, and others. what prompted the company to take this action? that s right. so paypal is just another company added to the list that announced layoffs up to 2,000 employees. that s about 7% of the totalwork frs. the ceo of paypal says the company is working to address the challenging macro economic environment, but, again, it is just another tech company has has gone through a round of job cuts. we ve had google announce earlier this month it was going to layoff 12,000 work wrrz, microsoft 10,000, and salesforce 7,000 workers. it will require a restuckturing process we re witnessing in the tech space right now. live from london, great to see you. thanks for joining us this morning. still ahead a preview of tomorrow s meeting on police
systemic issues in crypto currency and putting together some sort of regulatory framework because they believe, and with good reason, that the regulators have not been you have to snuff in keeping an eye on the industry. so talk to us, if you without, would, about the importance of bankman-fried in this whole new world. he was one of the founders of, obviously, one of the founders of ftx and took it upon himself to try to engage with lawmakers. there s two kind of paths for founders in the tech space. one is to say to the government, don t pay attention to he. i m not going to get involved. i will probably be so successful, but you ll have to catch up many years later. he took the complete opposite. he was on capitol hill all the time. he had an army of lobbyists.