Transcripts For RT Keiser Report 20240713 : vimarsana.com

Change the world it is suddenly that they were actually both then and now companies that brag about their ability to change the world it is suddenly that they were actually running out of money both then and now the valuations of once heralded Tech Enterprises were happy running out of money both then and now the valuations of once heralded Tech Enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the realisation that thousands of workers and once promising for hurdling into soberness washed down with the realisation that thousands of workers and once promising firms were poised to lose their jobs thats right we are were poised to lose their jobs thats right we are having another turn of the cycle a lot of it us to do with the fact that so much money was raised in the buying another turn of the cycle a lot of it us to do with the fact that so much money was raised in the van. Capital markets to avoid going public and having a dot com replay Venture Capital markets to avoid going public and having a dot com replay a lot of these companies raised a lot of money in the Venture Capital want to before it ever reached a lot of these companies raised a lot of money in the Venture Capital want to before it ever reached the Public Market so in the case away work they achieved Something Like a 40 8000000000. 00 in the Public Market so in the case away work they achieved Something Like a 48000000000. 00 valuation before even going public and during that time this is whats remarkable dollar valuation before even going public and during that time this is whats remarkable to me during the dot com bubble there was a lot of problems with c. E. O. s and insiders dumping stock right after the i. P. O. Theres all to me during the dot com bubble there was a lot of problems with c. E. O. s and insiders dumping stock right after the i. P. O. There should be a lockup period to force people keep people to stay on for a libya lockup period to force people key people to stay on for at least 6 months or a year to make sure this thing gets out of the gate without too many 6 months or a year to make sure this thing gets out of the gate without too many problems here in this era the we work being a primary example the problems here in this era of the we work being a primary example the founder an insider was able to dump almost a 1000000000 dollars will the founder insider was able to dump almost a 1000000000. 00 before the i. P. O. To the sophisticated money not to the day before the i. P. O. To the sophisticated money not to the dumb money he had he was dumping it on multibillionaires the venture come money he had he was dumping it on multibillion erris the venture. Capital community which had grown up on this in the last 1015 years up a whole community which had grown up on this in the last 1015 years on this unicorn mentality that they were but its similar that they were on this unicorn mentality that they were but its similar that they were all so feeding on the same delusion and they had prophets early are all so feeding on the same delusion and they had prophets early on in a couple of big big winners that they were recycling so you recycling kind of on in a couple of big big winners that they were recycling so you recycling kind of the house money as it goes in the valuations keep going higher and higher but house money as it goes in the valuations keep going higher and higher but there is a defect to be the same but theyre not publicly traded but it will the question defectively the same but theyre not publicly traded but it will the question is will it have a contagion effect will the spillover into a wider stock market phenomenon is will it have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having the impact in Silicon Valley that house prices and therefore a wider economic phenomena it is having the impact in Silicon Valley that house prices are falling rapidly because a lot of people were hoping to you know buy properties that they could are falling rapidly because a lot of people were hoping to you know buy properties that they could afford if their we work shares were worth something so now if ford if their we work shares were worth something so now there is this guy whos calling it the not com bubble not the dot com theyre this guy whos calling it the not com bubble not the dot com bubble because in fact a lot of these companies are just masquerading as tech company bubble because in fact a lot of these companies are just masquerading as tech come. Anees theyre not actually Tech Companies we work its not a tech company anees theyre not actually Tech Companies we work its not a tech company its the same Old Fashioned commercial Real Estate Lending elite its the same Old Fashioned commercial Real Estate Lending and leasing sort of thing thats been going on as a boring industry thats been around for hundreds of years thing sort of thing thats been going on its a boring industry thats been around for hundreds of years and its the same industry but its just been was branded as some sort of high tech and its the same industry but its just been was branded as some sort of high Tech Software company where you can get big multiples so why is calling and not com is a Software Company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right now than the v. C. Funds because the ordinary investor is way smarter right now than the v. C. Funds because when the web browser netscape went public aug 9th 1905 because when the web browser netscape went public aug 9th 1905 the day many sites as the beginning of the dot com bubble its stock skyrocketed from 28 day many site to the beginning of the dot com bubble its stock skyrocketed from 28. 00 to 75. 00 in a matter of hours even though the company was not profitable 1. 00 to 75. 00 in a matter of hours even though the company was not profitable and todays market the opposite is happening unicorns with no positive earnings are getting slaughtered and todays market the opposite is happening unicorns with no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i. P. O. At the gates we were expel you ation fell more than 80 percent pre i. P. O. When investors balked at its mounting losses peloton lifton guber have also struggled to cope when investors balked at his mounting losses peloton lifton hooper have also struggled to. Persuade Public Markets to grade them on a curve also their stock prices fall on the day of the persuade Public Markets to grade them on a curve also their stock prices fall on the day of the Public Offering institutions and Retail Investors are refusing to fork over to unicorn offering institutions and Retail Investors are refusing to fork over to unicorns the valuations that private investors were expecting particularly softens the valuations that private investors were expecting particularly softbank a major backer of a lift and we work this isnt a picture of mass meet bank a major backer of a lift and we work this isnt a picture of mass media its a picture of public so brian where the masses are diagnosing and its a picture of public so brian where the masses are diagnosing an acute fever in private markets bring that back to the Opening Statement where i said an acute fever in private markets i bring that back to the Opening Statement where i said this because you watch kaiser report weve been covering this weve been i remember misfire science showing just because you watch kaiser report weve been covering this weve been i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that lifton charts and saying when we were still in london 3 or 4 years ago saying that lifton these companies were not worth that that they were a ponzi schemes and that one day they were trying to dump it on the these companies were not worth that that they were a ponzi schemes and that one day they were trying to dump it on the Public Markets so i think this is also part of that censorship Public Markets so i think this is also part of that censorship d. Platforming sort of thing that we see is like the the Corporate Media d. Platforming sort of thing that we see is like the the Corporate Media doesnt have control over the dummies you know the dumb money that used to be called the dumb money the doesnt have control over the dummies you know the dumb money that used to be called the dumb money the. Average ordinary investor out there that is used to dump that private investor ordinary investor out there that is used to dump the private investor money onto the dot com phenomenon if youre going back to that era you aster money on to the dot com phenomenon if youre going back to that era you know it was technology a Software Problem in Technology Driven where it was technology a Software Problem in Technology Driven where the pitch would be were going to do publishing on the internet the pitch would be were going to do publishing on the internet you know in that magazines and newspapers will become redundant people will get there and you know in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that and even news on the internet at the time nobody believed that an email at that time a member of hollywood at the time i was working and it was if you had an email well at that time a member of hollywood at the time i was working and it was if you had an email address it was considered a class a because that you were considered a nerd nobody with a dress it was considered a class a because you were considered a nerd nobody with a respectable would have an email address you know the that thats how until the blair witch project respectable would have an email address you know the that thats how until the blair witch project and then everything changed in hollywood because of the internet but here the story of the 2nd than everything changed in hollywood because of the internet but here the story of the not com vc driven unicorn crazy and not com vc driven unicorn craziness is even more bizarre in that Companies Like we work is even more bizarre in that Companies Like we work. The pitch was theyre going to own the Global Real Estate market the pitch was theyre going to own the Global Real Estate market so the founder was saying that the Global Real Estate market is market so the founder was saying that the Global Real Estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that 5 trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying that pets raised tens of billions of dollars that would be like saying im going to im going to start farming you know kumquats on the dark side of them going to im going to start farming you know kumquats on the dark side of the moon because its its just im the thinner the still moon because its its just im the the center of the story that encourages people to take these risks in this era that were just coming theory that encourages people to take these risks in this era that were just coming through has become even less less substantial its never have such the true has become even less less substantial its never have such the such stories of lost substance have raise some money money money such stories of lost substance have raise some money money money from so such a high concentration of the seas and now as you point out from so such a high concentration of v. C. S. And now as you point out its collapse and of course there unicorns which are mystical magical creatures so its collapse and of course there unicorns which are mystical magical creatures so it was always that and it is a world of negative Interest Rates so there we have it was always that and it is a world of negative Interest Rates so there we have. Gone kind of through a Looking Glass where maybe hugh might imagine that this time have gone kind of through a Looking Glass where maybe hugh might imagine that this time having huge losses and being subsidized by your investors and your bond holders because a huge losses and being subsidized by your investors and your bond holders because remember there were people Bond Investors pouring money into member there were people Bond Investors pouring money into. And subsidizing huge percentage of every ride you take in and subsidizing huge percentage of every ride you take in super is subsidized by these crazy investors i dont know why they pay for half of my or i but they do or is subsidized by these crazy investors i dont know why they pay for half of my or i but they do and i take it and thank you its very polite of them but there they were never earning money when i take it and thank you its very polite of them but there they were never earning money and there was no hope for it we also talked about this in terms of the Shale Oil Production and there was no hope for it we also talked about this in terms of the Shale Oil Production Bond Investors are pouring money into it billions and billions of dollars your Pension Fund Investors are pouring money into it the billions and billions of dollars your pension fund your local municipalities your like your state pensions everybodys pouring money fund your local municipalities your like your state pensions everybodys pouring money into it and we kept looking at it and just looking at their earnings reports and looking at the facts into it and we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are losing money that they still havent said just quite simply they are losing money they still havent made money they didnt make money when it was 20. 00 a barrel for oil they didnt make money when it was one 100. 00 money they didnt make money when it was 20. 00 a barrel for oil they didnt make money when it was a high. In 10. 00 a barrel so theyre theyre not theyre losing money the whole way because that way it did in 10. 00 a barrel so theyre theyre not theyre losing money the whole way because that way it read crean syndrome where they have to keep on drilling faster and faster well now its really really crean syndrome where they have to keep on drilling faster and faster well now its really really starting to hit i started like them to know not. Get all winter at the Public Market not com bubble where the Public Markets are saying do you sense you guys arent making any is you guys need us arent making money going and you never were going to make money well its starts going to start really really hit in the shale oil in the shale oil or in america despite all the hype despite that by that like what you were saying about newman with we work where hes like well you know only global like what you were saying about newman with we work where hes like were going to own the global commercial Real Estate Market member all the headlines that america is the same market we can produce are we more or oil although the head of saudi mines that americas like we produce way more oil than saudi arabia where were an oil rich near even be aware. That you know like oil Oil Field Services Services Face crisis as a as just shale slowdown slowdown were worse than shell Oil Producers are under under fire from investors almost analysts. That invest money those. In 2020 the 1st and 3rd Largest Oil Field Service Company largest in the just oil world of their risk comes in the 3rd world cold saw their earnings hit in the 3rd quarter due to the slowdown in the u. S. Shale drilling schlumberger took a 12 porter due to the slowdown in the u. S. Shale drilling schlumberger took a 12700000000. 00 impairment charge. Related to its north American Business or rather point 7000000000. 00 impairment charge related to its north American Business a rather dramatic slowdown that led to an 11400000000. 00 loss for the quarter the largest matic slowdown that led to an 11400000000. 00 loss for the quarter the largest in the companys history and the niece has a history. Of all run down from pressure pump pumping business in a business thats thats just