Company, in this room could be the next hot ipo. Fast money trader dan nathan, guy adami made the trip to be out here. They survived last night. We wont ask what happened. Well see if they can get through this next hour. Snap just crapped out, were in vegas, crapped out, was this a reality check . Dan, lets kick it off with you. One of the questions you keep hearing in a conference like this, where there is a lot of companies doing disruptive things is whether or not they need to go public. There is a lot of access to capital, both equity and debt. They can finance a lot of their growth, dont forget, look back to facebook, one of the things facebook did in the leadup to 2012, they spent a billion dollars to buy instagram, that was before they went ipo. Then what do they do in 2013 . They spent more than 20 billion to buy whats app. They needed to do that to raise the capital in the Public Markets to be able to finance this next leg of growth. Heres a company thats valued over 400 billion right now. I think its safe to say that instagram and whats app are a big part of that valuation. So going public is something they need to do evaent wally. You have to weigh that against what being public means to you and you see it manifest itself, it was a terrible quarter. Obviously, 20 speaks to that. What i was most unimpressed by was the tone that the ceo took on the Conference Call yesterday. Heres the first conference calm, disastrous quarter and the level of ill use the word huberus was interesting to me. To discount facebook in the world we currently live in to me is probably not the best tact to take. There are things he said yahoo has a search box doesnt mean its google. That and a lot of people apparently who like to look like dogs. With a backdrop of being down to your ipo price practically in the aftermarket session, i dont know few say things like that. Its funny, im a bit of a contrarian. Its not like the sentiment was really high for this ipo snap. I think its important to remember i dont think the messaging has changed a whole heck of a lot in the last three months. When this company was on an ipo road show, they didnt get a path to profitability. We have a news alert out of walk. John. Mellissa, we have a new nbc News Survey Monkey poll, which measures the impact of the ceasefire e firestorm we have been living through since President Trump fired director comey. We asked americans, was it appropriate for President Trump to make that firing. 38 said yes. 54 , a majority say no and by very similar numbers, americans say they have less confidence in the wake of this firing that the fbi will be able conduct its russia probe in a fair manner. When we asked, was the russia probe the reason for the firing . This is a key element in terms of whether President Trump was trying to stop an investigation of him, 46 pleurality say yes it was, 24 say no, it was over the Hillary Clinton email investigation, which President Trumps white house has cited. But then finally, americans do not share the view of President Trump that this probe is fake news. 54 majority say its a serious issue and today the facting fbi director andrew mccape said it is both serious and it will go on unimpeded, guys. All right. Thank you very much, john harwood in d. C. So what does this change for the markets . Well, perception is a reality. If people think it is an important deal. It is an important deal. I think it makes trumps agenda, it pushes it back. It will not be as quick as they would like. I think the market has to ask a question, are we going to get the tax reform the regulation reform the Health Care Reform that we thought wed get in 2017 . Does that make it push down to 2018 . We have been talking about the trump agenda, marks take a hit, there could be news out of wells fargo, they will have more costs, et cetera, im wondering the pain the perception the agenda is off track . I think they really under performed the broad market. Obviously, they were a big part of the gains after the november elections, since then, they have not participated. Industrial stocks under performed the market. Those were supposed to benefit. I think guy is 100 right, if you push out this pro growth agenda, we get close to these midterms, washington is in full blown scandal, you will lose the house, you really do have a president who is not going to be able to deliver on any of the promise, therefore, we get back to gridlock, the markets have priced from a lot of this, unfortunately to the upside it go es the other way. On the other side, tech has done great with the trump trades goth not doing well. Is that what you stick with, what is working . I think so, obviously, we can get a conversation about amazon, netflix, what have you the Balance Sheets are seemingly impervious, they win to what is going on in the world. That is the growth area. With the backdrop of facebook, google, all these guys look so much better. I think the other way, when you think of the top five technology companies, five Biggest Companies not only in the u. S. , in the world, what were they doing . They were outperforming in the leadup too the election, it was almost like a safety trade. These are companies that did not need a pro growth agenda. They are dominating the field, disrupting a lot of industries. To me, i think its a defensive posture. When you look at apple, amazon, up 30 , were may 12th or 11th, thats pretty insane. To me it feels like a blowout top, a safety trade, its very crowded. It makes me very nervous. At the same time if forced to choose, you want do put money in the markets, you have to for whatever reason, would you choose that as opposed to other stocks out there . Afternoon with the evaluations crazy . The most Interesting Technology to me, given everything that dan mentioned is biotechnology, i think its under the radar screen. I think valuations are reasonable. I think people are still concerned the hammer is going to drop in the form of political rhetoric. Im not certain that will happen. What did jeff dunlap say monday . He said, look at emerging markets, not only that, with that election if france over the last week, that actually makes the case for a valuation argument for europe, maybe this populist tie has a place to be. Coming up two, words, big win, actually, steve wynn, steve wynn, he is here, he is here hours after this, he aint the only billionaire we got on the show, we got mark cuban as well. He bought twitter stock and snap we will ask him, mr. Us the great wayne newton will be here, his presence may sway guy adami to do something you have never done before. We are live here under the city lights in las vegas, much more fast money straight ahead. 6 of 100top companies. S the power of a proven 15year track record. The power of an etf. The power of qqq. The thinking we put in, clients get out. Power your clients portfolio at powershares. Com qqq. Before investing, consider the Funds Investment objectives, risks, charges and expenses. Call 8009830903 for the prospectus containing this information. Read it carefully. Distributed by invesco distributors inc. Containing this information. Read it carefully. You realize the smartest investing idea, isnt just what you invest in, but who you invest with. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Welcome back to fast money. We are live at the encore las vegas, there are visionaries and there are icons and our next guest is both. Steve wynn is perhaps the brightest star in the city of lights and the man most responsible for building modern day las vegas from the mirage to the blaj bellagio, he transformed las vegas from a gambling town to an International Business and tourist mecca and in the process became a selfmade billionaire and in the process, frank senate tra might say he did it his way. Steve wynn is the king of las vegas. She with us now. With tra introduction, there is one thing left to do, die. Go die somewhere. But im glad to be on cnbc. I think of this Great Channel as sort of rehab for abc and msnbc. From what way . Theyre so liberal on the other side. This is sort of rehab for them. We talk about the markets, just the markets. Thats right, rehab. So speaking of the market, speaking of business. How is business here in las vegas . Excellent, actually. Las vegas is enjoying some very, very ro bust business both in the regular travel and tourist industry as well as conventions and thats always been a big thing here and that has roared back and were still enjoying, as this city always has, an enormous amount of International Business both from latin america, europe and especially from asia. One analyst has noted about your Conference Call for the last Earnings Report that the tone on the call was about las vegas, was as bullish as ever, would you say that business is back, that business is better tan ever before . How would you characterize las vegas today compared to past years . Its a great question. And the answer has to do with the fact that this city, it remarkably for past 80 or 90 years, has managed to reinvent itself and morph into whatever it is the public really wanted, generation after generation. And the agility of this place to adjust itself to the young people, to the Convention Business, the menu thats being offered here is and im not just talking about the wynn properties, im talking about the whole street. You dont go from a 299, 3. 99 breakfast to one of the fansiest gourmet meals in the world. You can get entertainment for 25 or 35 or there are 40 and pay 500 for the best performance of a concert. In this building for example, cane smokers and our nightclubs. We have two or three of them. On the other hand, so is tony bennett or diana ross or a j. C. Fogerty. Whether its entertainment, shopping, i mean, i think if you take a look at the strip, starting with our hotel and movering all the way down the sidewalk, every major designer and retail boutique or offering is here. Every major chefs and restaurant is in this town. When i came as a young man, when i was 25 years old and came here in 68, i never could have imagined that las vegas would become what it has and its unlikely in the next 20 years that any city in the world will ever compete with las vegas in terms of the multiplicity, the depth of the offering. I want to ask you in terms of the tone in this town, have things been different since President Trump has been elected . And i have a couple interesting fact in the First QuarterEarnings Report, the Convention Business the trends are very solid through 2019. The average daily rate at a wynn property in the First Quarter was 13r50e7b, which is t315 in is there a greater optimistic among business, among tourists . The answer is absolutely yes, to give you a short answer, absolutely, yes. There was a pallor, a sense of we dont know whats next and its not going to be good during the obama years. And i although i have been a democrat and republican in my time and supported candidates from both parties if they were honest and doing a good job, i was grateful to support them. The obama administration, whether it was our health care for our employees, everything got screwed up. I was a vocal critic of everything that barack obama and his people did. They did it poorly. Either it was a bad idea or if it was less than awful, it was still poorly executed. It sound very harsh. And my attitude and the facts, if you look at the obama years are harsh. They tried to clean up the data, but the fact of the matter is, every businessman in america was scared to death. It retarded really robust creation. That sense of optimism among people, not just businessmen, but my customers who are people who are able to afford the Better Things in life much more positive. Right. And we felt it. It was it happened right away in november. Really . A heck of a switch . Pretty much. You know, in december, we noticed the change. What happens if parts of the agenda are not completed . What happens if he can heck reform isnt passed . What happens if tax reform isnt actually passed . Are you concerned that that optimism goes away or diminishes . Well, lets put it this way, if my employees and the American Public are left with the Affordable Care act, thats not going to be very good for anybody and there will be continued angst about it. As far as the agenda, it takes, in business, it takes us a while to do something. If im going to build a hotel. I first borrow a pile of money. I put up investment money, whether its equity or debt. And then there is a period before the project begins to bloom and bear fruit and that is make money. There is a two or three year period where we have to build it in four years at some point from beginning to end. In other words, investments take a while to mature. Sure. I think that the reforms that this administration, both in the house the senate and the white house, are proposing are basically solid. Remove the stranglehold of overregulation. Have an intelligent tax policy. Have a userfriendly patientcentric health care system. Those things no one argues with. The question is, can they be done in six months or 100 days. In practical terms, its a ridiculous expectation. Sure. For some reason in politics we have these goofy notions about instantaneousness. And another thing, most of the people you interview on this show are businessmen. Every single day of our lives as parents or business people, we make adjustments and we adjust the Current Situation step by step to set a goal. That is to stay we compromise with the realities of the moment but we keep moving towards the goal. Only in politdoes compromise bea bad word. Its a weakness. And Public Awareness and publicic e expectation in this 34 character world that we live in has been twisted and distorted. People should not ever expect anybody to do something spectacular in 100 days, its foolish. So it sound like you think the agenda could be enacted and accomplished. Have you been planting any more seeds . Have you been going out borrowing more piles of money believeing the Trump Administration is going to bring about this environment that will be very conducive to your business . Were the largest private investment in the history of the commonwealth of massachusetts and 2. 4 billion with our Destination Resort hotel in the metropolitan area of boston. Were going to be the second largest employer in the commonwealth of massachusetts behind mass general hospital. You bet were building and expanding. Were going to start in january the whole new development of the lagoon and our stuff behind this hotel. Now, im not here to do a commercial about wynn resorts. Is the expectation greater because President Trump was elected for you . The pace of investment is much more secure. We work at a certain pace because we are very meticulous about planning. I cant say the pace itself, but my optimism and my confident to proceed, remember, im a job creator, maybe a quarter of a million so far in this city in jobs that weve created. Im a job creator. Obama scared me, the hell out of me. Trump makes me feel more comfortable. Not that he is going to wave his hand and change the world overnight. But i know that basically, the craziness of the ridiculous left wing stuff that we we heard during obama time has been tamped down and we have insurance experience in some cases but more sober leadership in the congress and the senate. Stick around, we will get much more with you in just a moment right after this quick break. Im melissa lee. You are watching fast money live from las vegas, from cnbc, first in Business World wide. Stay tuned. microphone feedback listen up, heart disease. You too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. We, the entertainmentloving people, want all our rooms to be tv rooms. Because those are the best rooms. Because they have tvs in them. And, when were not in those rooms, we want our shows to go with us. Anywhere . You got that right, kid show thing. Get a directv allincluded package for 4 rooms. Only 25 a month, price guaranteed for 2 years. Available for at t unlimited plus customers. Im dr. Kelsey mcneely and some day you might be calling me an energy farmer. Energy lives here. Welcome back do a special edition of fast money. Coming to you live from the king of las vegas, himself, steve wynn, besides being the king of vegas, he is also the emperor of the another king dom, that being macaw, many wip. Bet big on the chinese gaming capital. Lets start there. King and emmoror. It has a night ring to it. You can use it any time. We give you permission. When it comes to macaw in your last Earnings Report, to the effect of the anticorruption rules have been in place for a while and people are comfortable with them now and it almost sounds like you are saying corruption is back. We were sort of joking it sounded that way. What are you seeing right now . The point i made an