Transcripts For FBC Bulls Bears 20240714

David a little spat. Well, President Trump also adding he doesnt need to reach a deal with china before the 2020 election. All these comments prompting the china trade delegation to announce it is now cancelling a planned trip to visit montana farmers. Thats next week. Now, that sent the markets tumbling. Check out the dow at about 1 13 p. M. Eastern time, just when the china news hit the wires. Markets dropping like a stone. The dow losing more than 200 points at that point. It recovered a little bit at the end of the day, but not much. Joining us now is usda trade advisor. Tom, you represent farmers. And we see what happened as soon as the president made his announcement. They said they are going to stop their delegation to the Farm Community in montana. Are the two things related in your mind . I think its great speculation all around the world as to why they did what they did. David what do you think . Look, i talked to mr. Forbes in the hallway on my way. Im a long time fan of his. He said well what do you think . He said the same thing to me. It could be part of the strategy. Maybe they never planned on going to see the farmers in montana and nebraska. Maybe this is just part of their, you know, drip at a time. Maybe xi called them back because something momentous was discussed in the discussions this week with the u. S. Tr office and they need to come back. I dont think it is fair to us and to the president to speculate whats going on right now. Mr. Navarro said earlier in the day that the big discussions are coming in october and anything else right now i think is a lot of posturing on both sides. Do you think the farmers are Still Standing behind the president as they pretty much have even though they have gotten hurt during these negotiations . Do you think they still have confidence in him that he can do that . I think they do. I think the farm bureau we have seen in the past few weeks, mr. Duval and his coalition which is a nationwide coalition are pretty much still behind the president. There are certain pockets in the farm industry that are hurting and that they would like some relief, more than what theyre getting. These are not men and women and families that want government assistance. These are probably the most proud group of people that we have. So you would be against i believe it is about a 12 billion dollars subsidy right now. I didnt say that. Okay. Okay. I said that but you said people dont they would rather not get that. Understood. However, they understand the president s posture and what were trying to do as americans. Look, i said this several times, Chuck Schumer came out several weeks ago and said this is one of the why didnt we do this before . Hes standing behind the president. Even nancy pelosi is standing behind i mean, this is unprecedented that we have both Political Parties now standing in unison saying please do something. Oh, sure, and the chinese have agreed to buy more agricultural goods from us, like soybeans and rice, so that is a positive step in the right direction. David by the way, theyve said they would. So far we havent yeah, well i think you will start to see some purchases. They have not pulled back on their cent promises. On their recent promises. David okay. They have a terrible swine flu problem over there. The swine flu epidemic which it is an epidemic. They have 450 million pigs alive in china but they cant seem to control the swine flu. And yet the government is now easing up on the Health Regulations and allowing farmers that have swine flu to still send pork to the market. It is kind of crazy. Tom, gary smith here. You said that the farmers understand trumps position. Quite frankly i dont understand trumps position. Is it a question or a statement . Let me finish my question. It is part a statement to set up the question. When we first started the whole trade negotiation, if you will, it was all under ip theft. Now its come to some other thing where we want a level Playing Field and quite honestly im scratching my head why we want that and how were going to achieve it and what exactly is the endgame . Well, i think the endgame david . David thats gary. Gary, im sorry. The end game is to put the United States people irrespective of industry, i. T. Manufacturing, farming on a level Playing Field. Look, china has gained the International Monetary system for years, since they became an economic power 20 years ago, theyve gamed it. They many ma late the that manipulate the currency. Steve mnuchin said that a few weeks ago. We all knew that. That wasnt a surprise. They were supposed to not talk about it and lets all keep playing at the casino . It doesnt work that way. Sooner or later, someone has to pay up. This is whats happening now. Im unclear what a level Playing Field is. I will give you an example. I have a trade deficit with my local public supermarket. They sell me cheap goods and i give them money. I dont want to do the farming myself. Why do we care if china is dumping goods here . The americans benefit from that. Why do we need a level Playing Field . Im confused. I sold into china quite a number of years and paid a big duty to get into china, depending on the port of entry. Hong kong has a prix port of entry which free port of entry which is a whole other reason. In the longterm macro view of we as americans and how were going to move forward, china has to be brought to heel. Who is it going to do it . David tom, we have to go. I have to ask a final question. The president said, and im quoting him here, were looking for a complete deal, not looking for a partial deal. A lot of people were hoping that we would get some kind of partial deal before the election because a complete deal, is it possible to get a complete deal before the election . Look, according to this gentleman, maybe we will never get a deal. The fact the president is willing to weigh into this mix, sharp elbows and all and try to cut a deal for us, i think you will see something. What . I dont know. David thank you for being here. We appreciate it. President trump slapping new sanctions on iran. Is a military option really the only way to stop them from doing more mischief . We will ask u. S. Special representative for iran, brian hook, coming next. Iran knows if they misbehave, they are on borrowed time. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. What might seem like a small cough can be a big bad problem for your grandchildren. Babies too young to be vaccinated against whooping cough are the most at risk for severe illness. Help prevent this talk to your doctor or pharmacist today about getting vaccinated against whooping cough. Talk to your doctor or pharmacist today ive always been im still going for my best. Even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. So if theres a better treatment than warfarin, ill go for that. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Sharing my roots. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Eliquis, the number one cardiologistprescribed blood thinner. Ask your doctor if eliquis is whats next for you. Ever imposed on a country, never done it to this level, and it is too bad whats happening with iran. It is going to hell, doing poorly. They are practically broke. They are broke. And they could solve the problem very easily. All they have to do is stop with the terror. David President Trump hitting iran with new sanctions aimed directly at Iranian National bank. Now, this of course following the devastating drone and missile attacks on saudi oil fields. That was last weekend. Well, this is clearly ratcheting up sanctions to a new unprecedented level, is it enough . Heres special representative for iran, brian hook who just returned at 3 00 a. M. From this morning from the middle east. We thank you for making it here. What do we do if iran strikes out again even after these new sanctions . Well, what were trying to do is deescalate tensions. The president has kept our Foreign Policy clearly within the left right limits of diplomacy, the problem is iran is meeting our diplomacy with military force. And they have been doing it for many months now, since may, we have had almost 100 attacks that iran is behind in the middle east. Secretary pompeo and i traveled to the region, met with c crown prince in saudi arabia and in uae, to hear first land from those countries who are on the front lines of iranian aggression. The secretary will be seeing the president today to discuss a way forward. David brian, if i could just follow up, a clear answer, maybe there isnt one right now, but specifically if theres another strike by iran, do we do more sanctions or Something Else . We dont preview our decisions. The president has as you mentioned at the top of the program, there are new sanctions today on Irans Central Bank and on irans sovereign wealth fund, and these are two accounts that are used to fund the Islamic Revolution guard force and to fund other terrorist operations. We have put into place historic levels of economic pressure on iran. We are denying the regime historic levels of revenue and we would like to get to a new deal with iran that would truly address all of irans threats to peace and security. Brian, the reason iran is responding with military force is because the sanctions that are in place already are working. Its crippling the country. Add these sanctions, you are going to tighten them even more. It seems they may fight back even harder and maybe a military response is inevitable. I also feel there may be another option and i want to ask you about it. Is it possible that as the people are suffering as a result of the sanctions and living under this regime, is it possible that this is the time that they could rise up . We do think that our economic pressure is expanding the space for people to protest. This is a regime that has been robbing its own people blind for 40 years. And the regime also badly represents its own people to the rest of the world. I think the American People and the iranian people have a lot in common. But the regime has President Trump once said that the longest suffering victims of the Iranian Regime are the iranian people. And so we do hope we endorse their aspirations for a more representative government. David gary . Hey, brian, we appreciate you being on the show with such little sleep. My question is, weve done economic sanctions on a variety of countries over the years, and generally my view is that they do work, but what is the administration classify as a win here . How will we know that we can say yep, theyre working, this is the right thing, or no, we need to do Something Like as david implied, military action. I think theres two areas that we look at, in terms of the metrics for how were doing. We want to make sure that were denying this regime the revenue it needs to fund its adventurous on expansionist Foreign Policy around the world. The regime is weaker today than when it was 2 1 2 years ago when we came into office. Their proxies are weaker, hezbollah, hamas, their shia proxies in iraq and syria, but it is very hard to eliminate the asymmetric advantage that terrorist regimes have. That still doesnt mean that they are not able to conduct terrorist attacks as we saw a few days ago, but we are trying to deny the regime revenue. We would like to get to a deal that would replace the failed deal that we left that will address Irans Nuclear threats, the missile threat and its regional aggression. Exactly, brian. Is that the endgame . Not just to renegotiate the nuclear deal but also to stop iran from funding terrorist groups and engaging in terrorist types of activities itself . Is that the endgame . That exactly right. Our economic pressure is denying the regime tens of billions of dollars in revenue. We have zeroed out their exports, source of export revenue. We have also sanctioned petro chemical exports, industrial metals, precious metals. These are necessary to do for the worlds leading sponsor of terrorism. We also know that pressure will likely bring iran back to the negotiating table so we can get a much better deal. David we were just joined by Fortune Magazine who had been tied up in traffic. Go ahead, adam. I apologize for being late. You reference the deal we got out of, whatever you think of the regime, the United States government and our allies crafted a deal with that regime which we unilaterally got out of, as you noted. Why would how do you explain how that regime, terrorist, not terrorist, what have you, should trust our government to do a deal when we unilaterally pull out of deals . Because that deal was made with president obama who is no longer in office. And it was never submitted to the senate as a treaty. That agreement has no legal status in our system. It was a political commitment made by a president who is no longer in office. This president wants to negotiate a new and better deal. And we think that there is a way forward. Secretary pompeo outlined the kinds of changes that we need to see, and quite frankly, we just want the Islamic Republic of iran to behave more like a normal nation and less like a revolutionary cause. As a diplomat you dont think thats a dangerous precedent to say that was the old government this is the new government pay no attention to what our government did before because that was a different president . But you have to make the distincti distinction. This was an agreement, a nonproliferation agreement that should have been submitted to the senate as a treaty. They didnt have the votes in the senate. Since they couldnt you are not concerned it is a dangerous precedent is what you are saying . David it is not a precedent. It wasnt our government. It was just one branch of our government. Go ahead, brian. That Iran Nuclear Deal has no legal status. And so the Prior Administration could not find the votes in the United States senate, so they found the votes in the u. N. Security council, but that also is not a binding agreement that we entered into there. So this is an agreement that has no political commitment, and iran made a lot of gains during that deal and were trying to reverse those very gains that they made. David brian hook, again, we appreciate you coming on despite your long travel over here from the uae and the middle east. Thank you very much for being here. Appreciate it. Millions of young people around the world are taking to the streets demanding urgent action on Climate Change, but there is backlash now, at least against one major u. S. City which gave all of its students a free pass to ditch class to attend the protest. Does this send the right message . Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . Im working to make each day a little sweeter. Adp simplifies hr, benefits, and payroll for magnolia bakery, so employees like sarah can achieve what theyre working for. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. David from sidney australia to new york city Climate Change protests sweeping the globe as millions of people in more than 150 countries taking to the streets demanding urgent action, but unlike los angeles, chicago, and miami, new york city is giving all of its 1. 1 Million Students a chance to skip class today, in order to attend the protests. The New York Post Editorial Board calling it quote an out and out government sponsorship of a particular point of view, end quote. Are they right, should new york city be letting students miss class for this . As someone who has a daughter, im glad she goes to a Public School in a different state, not in new york here. It just un infuriates me, not the fact they are protesting something they deeply believe in, Climate Change, i get that, im in favor of that. Do it on the weekends. Or take action. As mayor de blasio said washington is not taking action. Striking and holding up signs is not taking action either. So you pick up at the beach, you pick up trash on the highway, i would be more outspoken if the action was behind it. I sort of agree and sort of dont because protest is a very good thing for students to do. I would rather that the City Government during school . I would rather the city not say we subscribe to this political view and so you can do it. I object to how the post portrayed it. Science is not a point of view. Thats why this is a global protest. David were painting it with a lot of different brushes. Go ahead heres the problem, first of all, 99. 9 of these people protesting dont even understand the science. Second of all, adams right. Science is not a point of view, and i wish there was some science here. I was just looking at headlines from the New York Times and other respectable journals of news from the past 50 years. In 1975, 1967, there was going to be a famine by 1975. In 1972, new ice age by 2070. In 2002, a famine in ten years. In 2008, al gore warns of icefree arctic by 2013. Theres no science here. The climate is changing. Im not going to deny that. I will say that man has contributed to that. Beyond that, there is no consensus among scientists. So this protest, these kids dont understand whats going on out there. Do you know what they want . They want a day off, and i will tell you what, if i was a student in new york city, id be marching right along with them to get that day off. Just to take it back to the school portion of this, the fact that the city is sanctioning that these kids dont have to come to class today so they can go do this, they almost are feeding them a line of policy that they may not believe or ascribe to, but they do because the school is sanctioning it. Thats the problem that i have. Like heather said, if they want to do it on their own time, thats fine. Back in my day, i didnt get a pass to miss school for anything. David by the way, im not necessarily a climate denier, for whatever that phrase means, but at the same time, look at all the predictions, as gary aptly pointed out, i mean, all these predictions from these socalled scientists that turned out not to come about, in terms of all of the melting of the icebergs, etc. I mean you look back at all those predictions so many of them have turned out bad. I would be very suspect of those scientists. They are letting they are giving them this narrative. Thats what the issue is, and the kids whether they are doing the research or not are going to start to believe it. David im getting a wrap here. Amazon workers also joining the Global Climate protest today saying that Ceo Jeff Bezos climate pledge unveiled yesterday to become Carbon Neutral by 2040 doesnt go far enough. This is another section of the whole argument. Gary, will anything satisfy climate activists . No, nothing at all. This is a big money grab. And you know, the whole amazon Carbon Neutral, when bezos has his jets and mansion run on sol solar, then i will believe this line. Until then, this is about being politically correct. Now you are on firmer ground. Some of the people involved this debate have the human condition of being hypocrites, which is a very familiar one. But where you are on less firm ground, gary, is 1972, they were off by a few years. Look, this is extremely important stuff. And what . 1972 they predicted an ice age. [speaking over each other] david they were off by the direction of which level the thermostat should be put at. Thats the point. Theres been so many conflicting commentary about this over the decades; right . Yeah, absolutely. You know, whats interesting in the case of amazon, first of all, the company is not sanging is not sanctioning the workers to protest here, if they really believe in the cause, they can do it. Potentially they may look bad to their employer. I actually believe in that a little bit more. Unlike the one Elementary School in new york that actually sent a letter home to kids of parents saying that just letting you know all of the kids will be protesting today. They dont give anybody a choice. Amazon in this case is. Im totally fine with a company thats saying that look, we want to reduce our carbon footprint. We want i order hairbrushes and they come in a big box. David thats a good point. A launch of apples new iphones, iphone 11. Do you need to buy one of these new phones . Brett larson will help us answer that question, coming next. Tv announcer its just as powerful as the lexus rx. As many safety features as the rx, the new. The lexus rx has met its match. If theyre talking about you. You must be doing something right. Experience the style, craftsmanship, and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 a month for 36 months. Experience amazing at your lexus dealer. 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Com saves you time and money. Were changing whats possible. For instance, we know how your customers shop. And what theyve already purchased. Like this lamp. And we use those insights to show you what they might consider buying next. Midcentury modern, nice. That way, you can keep sending them offers for the perfect products. And that keeps them coming back. Hows that for changing whats possible . David it is a big day for apple and ceo tim cook as new iphones hit the shelves and doors are open at its Flagship Store in new york. Thats where we find kristina partsinevelos. Whats the foot traffic like . Oh, the foot traffic is definitely picked up. There was a little bit of a lull when i say lull, i mean there were still hundreds of people, but before you saw this entire place packed. Its still packed. It seems like everybody after work is lining up to get the latest iphone 11. If you were here really early, tim cook surprised everybody this morning, took some selfies and shook some hands. I was able to speak to one person who bought the phone. It happened to be an israeli ambassador to brazil. Listen to his comments on why he bought it. Everything is in the phone now. [inaudible]. Overall, though, i would have to say a lot of people have been commenting about the camera quality. Im not lying when i say that the number of people that have stood in front of here and took instagram pictures or social media pictures posing with the new cube which this store has been renovated for the past few years, so it was a big unveiling which is incredible, which is why people were willing to drop 699, a thousand, almost 11,000 dollars for the 1100 for the latest iphone. It has a longer battery and epic quality pictures. Everybody is taking pictures. David i cant wait to see the cube. Its been under wraps now for a few years. It is going to be exciting that. Two cubes. Kristina thank you very much. Joining us now is fox News Headlines 24 7 anchor brett larson. You are an expert in these new phones. Thats what they tell me. David why should i trade in my 10 . The 10 is, it is a good time in upgrading. Upgrading your phone is something you should do every two years. Thats when you see a significant increase in performance, battery life, features set. I have the 10s. Im holding the 11. The difference in the camera between the 10s and 11 is noticeable. They have added an additional camera. The battery life is going david i think we can put a camera on your i have a picture of my dog here giving me attitude because i was gone for a few days. David do you have any video . Look at this one telling me like hey, man, where have you been . Do you want to play with some toys . Then just a few minutes later, now im asleep, leave me alone. I can zoom way in and you can get the detail on the fabric of the bed that he sleeps on. Thats how good the telephoto lens is on there. This is what lets you know it is the 11 pro, third camera, telephoto lens on it. This is the green color. It looks kind of cool. It is an emerald color phone. The camera sets this phone apart. Theres a little bit of ai working in the back ground so the three lenses work in tandem to get the best picture you can get. The night vision, i havent had a chance to check that out yet because i just got hands on with it. The night vision stuff, the examples i have seen is really phenomenal. You are taking these great pictures without a tripod obviously. David adam, are you buying . No, brett, i have my 10 here. Lets be honest, what you are talking about is really neat, but if you are an average person out there and photography and by the way the 10 shoots great photos. I have to ask you, i mean, who cares . I mean, i understand the excitement if this is super important to you. But if its not super important to you, to take really really crisp pictures, do you really need to spend all that money . You know, im a huge proponent of the iphone upgrade program. I have actually done that for several years now, and i think its good in such that look youre going to want a new phone every couple of years anyway. If you have a 6s or a 7, at this point that thing is probably on its death bed and telling you quietly to get a replacement. That i agree with you. I have a 5 or 6. I just want a working phone. I feel like no one can hear me. I google apple iphone problems with people hearing me. Have you heard of that . Or is it just me . Will an upgrade help . Upgrades usually help. You have to think about what we put these devices through daytoday. They are in our pockets, out of pockets, on the desk, fall out of our purse or bag or whatever. Were putting them through quite a bit as a consumer electronic device. I have dropped it, fair enough. From a business standpoint, let me ask you this, the hand set business for apple is diminishing at this point, all about services and less really about whats happening in the United States. It is more about whats happening in china. However they need the cheaper hand set because thats in line with what, you know, the competition thats over there. So is the cheaper version of this phone going to entice the chinese . Because the wall street journal came out today and said it is not looking good. Well, you know, listen, the demand for these phones is not waning. Apple is not hurting from a lack of hand set sales. They continue to sell. Were reaching a point of market saturation with both the smart phones and tablets. You know, people arent replacing their tablets every couple of years. I mean, there was a time when you would buy a new pc every year because they were getting significantly faster because now we have kind of reached this nice plateau where everything works really well and it works for about a good five to six years and thats how long folks are holding on to their devices. Brett, it is gary smith. I want to go back to adams point. As an owner of iphone 7, i think it works fine. Is there a concern at apple that all these new features, the three cameras and stuff are appealing to a smaller and smaller niche of people . Its kind of like the tvs that are coming out now. You can get the fanciest darn tv in the world but the 4k works probably just as well as the next 5k tv. You should only be seeing gary b. On 4 or 5k i dread the day when we get 4k in news because then you will know im 70. Im totally kidding. I hear what you are saying. These devices have really become the new car for most consumers. Its something you want to get. You want to get the latest and greatest every couple of years. The price tag, yes, i get it, its high. If you are a family of four, you dont want to buy your kids new iphones every year. Talking about several thousand dollars worth of a product you are going to buy. Every couple of years it makes sense because they are also doing more and more. You dont have to have the latest and greatest camera. But, you know, you want the most updated software. David great to see you brett, thank you very much. Have fun with that. Oh, i will. David Facebook Ceo Mark Zuckerberg reportedly getting a chilly reception from senators yesterday. What is he doing on the hill again today . Mr. Zucker berg came up here. Zuckerberg came up here. Hes very smart. Its clear to me from the its clear to me from the hearing that 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. David back for more, Facebook Ceo Mark Zuckerberg on capitol hill for a second day of meeting with lawmakers after reportedly getting some pushback on day one. Hillary vaughan has the very latest from capitol hill. Hillary . Facebooks Mark Zuckerberg spent the past three days in d. C. , a lot like a lobbyist would. He wined and dined democrats over a 100 plate meal featuring mushroom crusted icelandic cod. He had a personal facetoface with the president and private meetings on capitol hill with Top Republicans and democrats. But after all that, some critics still arent convinced that facebook doesnt need to face an antitrust investigation. Instead house judiciary Ranking Member leading the antitrust probe says the ceo seems ready to cooperate. The committee has facebook for emails from executives related to competition. Today collins told reporters after the meeting hes optimistic zuckerberg will cooperate. Telling reporters quote i think what he gave us today was some honest discussion. This is something that allows us to get information and i think they are very open to that. Convincing lawmakers that a facebook break up would be a bad idea was one thing on zuckerbergs agenda. He also met with House Intelligence Committee chairman schiff about election security. Schiff says hes confident the communication between the tech sector and intelligence officials has improved. They are very aware of the threat that it poses. They are in the process i think of developing whey hope will be very strong what i hope will be very strong policies on this, and so i think he fully appreciates the gravity of the situation zuckerberg today also met with a lot of republicans who were concerned about facebook censoring conservatives on its platform. He met with leader Kevin Mccarthy who has been vocal on that issue. David . David thank you very much. Gary, should Congress Make a deal with zuckerberg . Well, it should let me plip that around. Let me flip that around. Should zuckerberg make a deal with congress . Yes, absolutely, because the one thing you dont want to do, sadly, in this day and age, for any business, is pick a fight with the u. S. Government. That being said, i wish zuckerberg would say you know what congress . Go pound sand. Were doing everything legal. We dont have a monopoly. Our service is free to use or not use. If people dont like it, they cannot use it. But unfortunately, hes not going to say anything because all these congressmen and senators are autofor a power grab are out for a power grab and looking to make headlines so hes going to be brought to heel, unfortunately. Well, thats an interesting opinion, gary, and youre certainly entitled to it, just like everybody else. [laughter] but there will be there will be an antitrust investigation, and the antitrust law is not settled fact, and there will be lots of other investigations as well. What i can tell you for sure about Mark Zuckerberg is hes playing long ball. He took a while to get there. He was way too slow to figure it out for such a smart guy. Now that he has figured it out, this is like a five or tenyear battle that were seeing the first couple months of right now. Two points to make here, if he goes to congress and they try to say spin off instagram and sell whats app there is no way a deal will be struck. There are certain things will be offlimits i think. I agree with you gary i got off facebook. I dont like the way they handle privacy issues. I dont like so much about it. I thought i dont need to do this anymore. This is all about protecting your user data. Isnt that the main reason why hes there . I think it should be about protecting your user data. Obviously you said i feel like my user data is out there, not protected, could be slighted so i could be violated so im not going to be on it anymore. If you had a choice to not be on facebook, it is hard to argue david is it possible that there could be a trade off that happens . Like, okay, in front of the cameras, all the congressmen are saying hes full of bs, etc. , but behind the scenes maybe they say look if you sell instagram, maybe well go easy with you on regulations. I dont think so right now. I think thats premature. Congress wants a piece of this, ftc and Justice Department wants a piece of this. They would have to agree with all of that before facebook agrees with them on it. I dont see that happening any time soon. David thank you, gang. Larry ellison not mincing words when it comes to his feelings about uber. More on his harsh comments and the comparison to his cat. Wait till you hear this one. Thats coming up. Orlando isnt just the theme park capital of the world, it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. That could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. David uber may have more than 57 billion dollars market valuation but it lost 20 billion in the market cap since june, and now oracle founder and executive chairman Larry Ellison is telling barrons he thinks the company is, quote, almost worthless. He singles out its money burn, the fact that they dont own cars and have no control over their drivers and he says, quote, they have an app my cat could have written. Ouch. Adam, you wrote the book on uber. It is called wild ride. Does ellison have a point . Well, let me start with a little context on Larry Ellison. He runs a company thats known in Silicon Valley as being a real company. It makes complicated technology, and it sells it at a profit. It doesnt grow very quickly, but it makes a lot of money. Uber has a business. It is not fair to say that just because they dont have cars they dont have a business. Ebay never had any merchandise and they made a lot of money, have made a lot of money over the years. As for whether anyone can build it, well lyft did, but no one else did. I think hes being a little harsh, but thats who he is. Is he short the stock . I mean, i cant it just doesnt make sense, why hes so harsh and maybe hes we with elon musk, when their car comes out they will eat uber alive. They are still not profitable. A lot of people are asking me should i buy this company . I cant tell you what to do. The company doesnt make money. When do you see on the time horizon that they are going to . There is a lot of competition out there and the service is not that great. There are a lot of times on the app the car is coming in two minutes and it doesnt come for ten minutes. All the time. David thats happened to me. If i can flag a yellow cab, i do that now. I agree with ellison. I cant comment on how well or poorly the app is written. I have two cats and they could never have written that app. [laughter] but i will tell you what, it reminds me of the old it reminds me of the old business, using a dollar a unit but they are going to make it up on volume. I mean, this is a company that it seems the more riders they have, the more money they lose. Ellisons on to a good point. Its a terrific service. They havent figured out like so Many Companies how to make money off it. Im not sure they ever will. David what about the regulations, adam . Unions hate the company for obvious reasons because most of the drivers were independent contractors but now they are using their political pressure to get things to change, to force uber to have drivers refer to themselves as employees so they can be unionized; right . Yeah, for the firsthandful of years of this companys history they got on the right sense of regulation in the sense they ignored it and now that is affecting them on this. Can they make a little bit of money on each ride and get their costs down to a point where it is a moneymaking business without all the expansion and without all the stock compensation costs . So to say it is worthless. I doubt to say it is worth 57 billion, i doubt that. I also have a problem with a service. If you have ever taken an uber in another city across the United States, that isnt as, you know, greatly populated, you basically get a local driver. It could be like, you know, and you get into the back of a soccer moms car, and theres a problem with that as well. So they need to work on a bunch of things. David boy, a tough critic. Watch out yelp. Jackie is going to be on yelp pretty soon. The storm area 51 event, have you heard about that . It was supposed to be out of this world, but so far its only attracted about 100 alien chasers. Some may still have found a way to draw big crowds and cash in on the spectacle. Details coming next. My mom said come get her one. Im here to do it. Hes pretty cool. He just said wrap it around my face and here we go. Protection. Award winning interface. Award winning design. Award winning engine. The volvo xc90. Our most awarded luxury suv. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. What might seem like a small cough can be a big bad problem for your grandchildren. Babies too young to be vaccinated against whooping cough are the most at risk for severe illness. Help prevent this talk to your doctor or pharmacist today about getting vaccinated against whooping cough. David more than 2 million ufo enthusiasts were supposed to make the treck to a storm area 51 event in nevada, spun by a viral social media post. Only about 100 or so actually have shown up but some alien Music Festivals are taking place over the weekend and those could attract quite a following, two counties are already declaring states of emergency because of the overcrowding and safety concerns, so is the search for alien life alive and well, or is it dying out . Obviously its alive and well because theres so many people who would be willing to treck there. Obviously the area is not really able to support it either. I say pack up the winebago, make sure you have enough snacks and go searching. Yeah, i do believe in external life form, just not sure if it looks like et. Something is definitely out there. I dont know if it looks like these guys on your screen though david adam . Go ahead, gary, please. Go ahead, adam. By the way as you guys are fighting it out i got to put up on the screen there was a ufo the navy was tracking some of their jets were up in the air i think we can put up the video. We now have confirmation from the navy this was genuine, doesnt mean it was an alien, now, gary, go ahead. No i was going to say its kind of like once you know how the magician does the magic trick the interest goes away so youre right. Point that out and people say well there really are ufos and they start to move on to the next conspiracy theory. David adam you have five seconds. Quality over quantity. Its alive and well david. David okay i hope its alive and well. 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