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tv   Varney Company  FOX Business  December 8, 2023 10:00am-11:00am EST

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stuart: this is the song i like, start me up. starting up on a friday morning. good morning. 10:00 eastern. the dow industrials up 94 points. small gain for the s&p, small gain for the nasdaq. the 10 year treasury yield had been going up big time. it is still up big time. where is it now? 7097. bitcoin holding onto those gains, $44,000 a coin. you receive or to the latest on consumer sentiment to. >> the level, 69.4 much better-than-expected.
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they surge to 74, expectations surged to 66.4. and 5 year inflation expectations down to 2.8%, in new jersey i paper due dollars and $0.99. stuart: at a surge of confidence. and they are up to speed as the day goes by, now this. our editorial at this time thursday was all about the president's bad week. as we round out the week it just got much worse. the president's son has been indicted on tax charges. this will unfold as as a 24 campaign fires up.
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it is not something any candidate wants and that's what president biden faces. it is a sordid tale. hunter earned $7 million from ukrainian energy company and chinese private equity firm. he spent it on sex, drugs, and rock and roll, he didn't pay tax. there' s influence peddling here and corruption. the president may be impeached. biden angrily dismissed hunter's corruption charges calling them lives. he has consistently said he was not involved in his son's business dealings but investigators found clear links. biden's approval rating sank to a low of 37%. he's is underwater on every single major issue. he's losing the support of key constituents. democrats know deep down that he's not going to be the president for another five years so hunter's indictment might end been senior democrats to go to him and say it is time to move aside. how they do it, how they deal
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with kamala harris i don't know. but hunter charges may be the last straw. second hour of varney just getting started. tammy bruce with us as usual on a friday morning, welcome back. is this the straw that's going to break the camel's back to the president's campaign? >> it was the real world perhaps yes but keep in mind with all these things coming up someone like biden and his team have an interest in remaining in the presidency. when he's out of that office, that has always been his power is being in government, being a senator, being vice president, being president and with all of this being revealed why would he retreat into being a private citizen where there is more risk. when you're the president you have a bit more power. in the meantime when it comes to what is happening with hunter biden, these tax
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charges, they were going to give him a sweetheart deal, this confirms that whistleblowers were correct about pressure to take their hands off of hunter biden, to not pursue that but also what is missing is the influence peddling dynamic, not just ukraine but kazakhstan, china, russia, and the connections we see with president biden himself. they still seem trying to protect the president or the biden family and we will see how that goes but i don't see this as being the thing that scares them out of office. it may make him hang on more tightly. stuart: another one for you. there's real pressure on ivy league presidents after they gave testimony on capitol hill on anti-semitism on campus. billionaire bill lachman, wall street times wants the you pen president to resign. harvard's president is now apologizing for her remarks at the hearing, too little too late? >> very much so.
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they went to that hearing, that was the sole reason to go to that hearing, they prepared for it, they hired companies to help them and what they were unified in was saying there was a context to the call for genocide. when you can get into trouble for fat phobia. this is nuts. they were sitting in front of the world, in front of congress saying this to the american people and for some reason, it was important to see the all 3 of them made the same comments. there is now outrage. they have all come out with some kind of mail call paul, we are sorry and, the university of penn did a video saying it was a moment, effectively saying -- it wasn't a moment. it was the entire testimony, how is it that you trip and fall over the issue of genocide and jew hatred?
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that's the key element, the issue of our time and these are individuals, this is more work next week on the issue that this is the result of the eri, it is the result of artificially elevating people in the name of identity politics and this is what you get people who are not ready your and who conform to the leftist idea and narrative that jews and white people and others are so bad they need to be condemned and are not worthy of support, and hate crimes don't apply to them. it is outrageous. stuart: it was a moment we could have seen some moral clarity but we didn't. it wasn't there. that's the big deal. thank you very much indeed. the second gentlemen, douglas i amhalf. >> thanks for setting me up, where is the moral clarity.
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we don't talk much about kamala harris's husband but we should. he is jewish and he says this anti-semitism on campus strikes a chord with him. he called the university presidents defense of it unacceptable. >> some of our most elite universities literally unable to denounce calling for the genocide of the jews as anti-semitic. that lack of moral clarity is simply unacceptable. >> presidents of the schools defended their in action because they were preserving free-speech. they got bipartisan backlash from that and are apologizing, too little too late. new york congressman elyse stuff on a cruise roman catholics as the house is launching a congressional investigation with the full force of subpoena power into some of these schools. stuart: it interesting. lauren: it would be from the educational reports committee. stuart: it's going forward. this is not evil, more to come.
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charlemagne la is a guard wants president biden to give the country the ultimate christmas gift and i think i know what that is. >> stepped down, president biden, pass the baton to one of the 50 democrats who could also beat trump. >> it is president biden at ego talking. if you think of people could beat him, step aside. i know he thinks he's got this in the bag but the polls say otherwise. i want biden stepping in the meat truck the where want him defending me at a bar front. i appreciate you carrying but i don't like our chances. biden is not getting any younger, he's not going to get more popular, he's not getting a new running mate so please, mister president, give america the ultimate christmas gift and step aside. >> don't know what to say after that. politicians and many people struggle with the idea of legacy. he could go out as being a president, pushing forward so
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many progressive values and laws. instead he is running the risk of going out as the president that reelected donald trump. stuart: thanks. we got to get back to the market this friday morning. i still see the green, strong consumer confidence number appears to have helped the nasdaq and the s&p so you've got green up 80 one on the dow, 13 on the s&p, 48 on the nasdaq. welcome back, good to see you again. you are focusing on the chipmakers. what your favorite chipmaker? >> a lot is going on. the important thing is the fact that the axis of the revolution that's going on, they have contract with oracle and google and microsoft and much needed because nvidia has taken such a run. stuart: the chipmakers are doing well. >> some chipmakers but not all are created equal.
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stuart: that's the whole ball of wax. got to have an ai chip and if you don't -- >> if you're doing something else, great. stuart: are you in a position to assess who is winning the ai race? google or microsoft? >> i think google is ahead because they came back with an answer to open ai, chat gpt and what you see of gemini, playing around with them for a couple hours it is amazing, it has the ability to guess things, draw a picture and say which car will go faster and which is more aerodynamic and says that one. stuart: do i have to pay for that? >> not yet. it is free for some versions. you can probably get a subscription. stuart: cell gemini i can actually use ai myself on my phone. >> all your video clips and say what we talked about last week. stuart: one more subject.
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can't remember if you get into bitcoin or not. >> i do. >> it is up 44 grand at the moment, 448, where's it going? >> 15 in the next two months. it's going to be available in etfs. more importantly the interest rates start to go down but a lot of it is the fact of etfs. stuart: how long have you had it? >> three years. stuart: you got it way back when. stuart: and that is -- $5 a coin? 5,000? and you held it -- >> some are sitting around and i don't know, it's really embarrassing but yes. that the official price. we one we wish you the best of luck with this investment and see where it goes, good to see you again. lauren is looking for movers including paramount, 12%.
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>> selling all or part of the company to sky dance media but it is overdone. stuart: something about that. boeing. >> dow stock, they want -- china wants to do more business with boeing and china is reportedly considering resuming their purchasing of the 737 max, the fatal crashes four years ago, china stopped buying it and might do so again. we want restoration hardware. lauren: a surprise loss, stocks up 13%. executives calling the housing market, quote, frozen, that the catalog i look forward to getting because it is design inspiration, they delayed it to the beginning of next year when they hope the market seems more promising. stuart: all right. two republican primary debates will be held next month but ron desantis hopes the field narrows, he wants to one on one with nikki haley. we have that story for you. new city mayor eric adams got a last-minute meeting at the
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white house, wants more federal money to help with the migrant crisis but biden is absent from these meetings. congresswoman claudia tenney on that next. ♪ of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. during my entire life i have been somewhat of an outdoors person. golf, gardening around here. how can i stay out of the sun?
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stuart: first stop, the stock market not doing too bad. i was up one hundred 36 points, nasdaq up 70. bitcoin holding onto its recent gains, close to $44,000 a coin. you are at 43870. next case, border patrol sources tell fox half-million migrants have been caught at
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the southern border since october 1st. what is it like today? >> reporter: i can tell you border patrol agents need a lot of help. they are frustrated. whenever they patch a hole in the wall, there are more massive crossings taking place. a group of single adult men crossed illegally and are waiting for border patrol, processing, where they hope they will be released into the united states. let's show you what happened last night, this video before sunset, there was another wall incursion, a breach in the border wall. people start pouring in through a hole in the wall. hundreds spilling in east of the port of entry, rushing and before border patrol could respond. several hundred come walking down the border road. most from africa and india and mexico and ecuador some chanting america. look at this video.
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they got on local highways out here and are walking down the middle of the highway, no idea where they were going, border patrol got them corralled back elsewhere. that is what agents are dealing with. next video, processing tend out here in lukeville, long line of people waiting to be processed after a day of illegal crossings, some of them getting facial apps with border patrol, scanned for processing before being shipped elsewhere into border patrol custody. lastly take a look at this video, border patrol eating this thermal video showing another wall incursion. you will see, they said 75 illegal immigrants scaled the wall, dropped into the united states one by one with the help of a human smuggler, they gather and go running deeper into the united states so it goes to show this sort of thing happening all along the southern border and back out
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here live worth pointing out, kamala harris, the borders are, has not been down here to the southern border since june 2021, 21/2 years ago, she decided to focus on route causes in the northern triangle, very few people behind me. stuart: what an extraordinary report. good start. thank you very much indeed. new york city mayor eric adams met with white house officials about the migrant crisis, president biden was not in attendance. republican from upstate new york joins me now. do you get the imprison the president is walking away from mike and problem? >> looks like it. the footage is astounding. think about country that doesn't protect its borders. they are smuggled, we have no idea where they are going to go. we have this crisis around the world. there's mayor adams.
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he had -- he took over for a disastrous deblasio administration, bad policy out of president biden, not controlling the border and his polling is at 28% which is worse than president biden and governor cuomo is taking a run and defeating him soundly in these polls. it will be a difficult time for him but they continue their sanctuary policies, 10 you doing to cut all across the budget for new york city because they are in a difficult situation that's costing half $1 trillion for taxpayers across the nation to handle these people in the biden administration does nothing. it is incredible to watch this because while we have these wars going on overseas especially in the middle east, iran funding proxies, who are these people? are they joining terror cells? new york city is a hotspot. i said to you a few times
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before i represent most of new york's northern border where border patrol agents said it is dangerous, 85% of those people on a terror watch list are coming across the northern border and beware of governor cuomo. he's the guy in 2019 who signed into law the green light law which allows illegal immigrants to get licenses and legality in new york state and new york city under mayor adams, doing nothing to stop this and they have the right to vote at the moment, they are being challenged in court. all of this undermining taxpayers, undermining security. it is a disaster. it's a disaster. i see something worse the 9/11 potentially happening. stuart: is it okay to hold ukrainian 8 over the border? that is the republican demand. you don't get ukrainian aid until you do something about the border. you on board with that? >> i think it is important because it is a priority for
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the democrats because they are still, in spite of the bill melugin tape you just roles, they are still trying to look away, they are obsessed with ukraine, we are all concerned and care for the ukrainians and putin and his intent to run across europe and into the balkans potentially, we don't know what is ultimately his goal but it is not good but it is something the democrats want badly and in order to get some kind of order this is our only, our best leverage point. stuart: thanks for joining us this morning, don't be a stranger, see you soon. ron desantis is hoping to face off with nikki haley 1-on-1. how is that going to happen? ashley: good question. he told a radio host, he hopes the criteria for the next debate qualification might result in that 1-on-1 face off with haley. doubtful, the florida governor also predicting the showdown
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might be happening anyway in iowa and new hampshire. this is interesting. elon musk says he believes nikki haley's campaign is dead. 's comments came after pundits gave her performance in the last debate mixed reviews. musk described himself as a centrist, he voted for biden over trump in the 2020 presidential election but it is unclear who he currently supports in the race for the white house. one final note. nbc news pulled some voters in georgia after the last gop debate and guess who got the overwhelming vote? donald trump. of the 27 people questions, 18 of them picked trump. he wasn't even there. desantis got two votes and haley just one. remarkable. stuart: he never loses his base. thanks. mcdonald's opening up a new restaurant this week, a new
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chain called cosmetics. we have a preview for you coming up. we have a strong jobs report this morning, you can but the president will have something to say about that. we have a full report next. ♪ ♪ students... students of any age, from anywhere. students in a new kind of classroom. ♪ using our technology to power different ways of learning. ♪ harnessing ai to plant new beginnings.
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stuart: on the markets i see green, dow's upper hundred and nasdaq is up 68 points. goldman sachs, in the dow stocks, both of them up, they are adding 50 points to the dow industrials. lauren is looking at the movers and we start with lululemon. lauren: they said black friday was our best in history and shoppers are not showing signs of slowing down despite their tepid holiday forecasts. they gave some overseas numbers going double digits in every single market that overseas that they sell and whether it is middle east, asia. stuart: they were down and now
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they are up. what is with right platforms. stuart: lauren: jpmorgan upgrades right platforms are neutral from underweight and increase their price target from 8 to 12. stocks at 7%. they like their new project in texas that will help increase mining capacity. stuart: that is -- block money, cryptos. the charge point. lauren: electric vehicle charging networks up 9%, a new ceo sees probability for the company at the end of this. stuart: should get that $7 billion that was set aside. got to get back to the jobs report. earlier it was reported 199,000 jobs were added in november, unemployment rate down 3.7%. a lawrence of the labor department. biden continues to tout the economy but there seems to be a real disconnect between the messaging and what people are experiencing.
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>> reporter: that's what i've been asking. the jobs report is because the ending of the uaw strike as well as the sag actors strike, that's 40,000 jobs that were added to this number. the average jobs created per month this year so far is 240,000 jobs. that could give the federal reserve pause to raise rates because it might coming harder than expected but i don't think they will raise. i think they will keep things where they are because they see strikes ending, this is what markets factoring in the, they need to reconcile fed members saying rates will be higher longer, this is where markets believe cuts could come in as early as the second quarter of next year and that is why one of the markets believes that. there's a big slowdown coming and this is why.
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>> the consumer is living on debt like our country is. we are at an all-time high, $1.1 trillion into the holiday season. this is unsustainable. >> is where jobs came from. 99,000 came from private education and health services. other areas are down, retail is down, 38,400, the jobs coming in are from lower wage sectors and has not spread widely across all sectors as well as the government hiring so i pressed the labor secretary. listen. >> the story is 199,000 jobs added last month combined with the lowest levels of unemployment for the longest time since danny ross topped the charts, this is significant because many predicted it would take a long time to get under 4% unemployment out of the pandemic. we've not only done that but sustained. >> reporter: i believe you with this. over the last few months the
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average amount of jobs created in this economy by government hiring has been 59,000 jobs. back to you. stuart: that is important. brian westbury is an economist to joins me now. i thought it was a fairly strong jobs report. i can't see the fed cutting rates anytime soon. can you? >> right now it is hard to see but i think we, i know you probably talk about it almost every day but i think the world focuses too much on the interest rates. what i'm watching is am 2, the money supply. it soared during covid, we predicted that would bring inflation and in the past year now it is down 3.6% so if we really dig into these employment reports i think we can see some effect of that, they are slowing down if you
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adjust for the strike, if you adjust for the revisions, downward revisions to the last couple months, we only had 50,000 jobs this month. the second thing i would say is if you look at all the data we have on inflation i'm going to give inflation its 3. 5%. the core, the super core, the cpi, the ppi, almost measures of inflation. if you have 3.5 plus one, that's 4.5, so interest rates are about normal. they weren't normal for 15 years so you have a slowdown in the money supply, slowdown in job growth. i know the headline number doesn't make that perfectly clear but underneath, it is. interest rates are about normal so i agreed the fed is not going to raise rates but if this money supply is right,
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next year we will have a recession and they will be cutting interest rates. stuart: fascinating scenario. i wonder if you saw this. the fastest growing job in the country right now is wind turbine service technician. experienced technicians make $80,000 a year, they don't need a college degree. seems like the value of a college degree, this is big picture, the value of college degree is declining. is a college degree worth it anymore? >> this has been a great question over the years. i love, i remember seeing a story one time, start with two people, one goes to be a plumber, apprentice, right after high school, the other one goes to college and gets an accounting degree, has to pass the cpi and starts as a junior accountant somewhere and if you add up all their income over that 20 are period and somebody
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saves you can find out that the plumber or the person that didn't go to college is actually ahead of the person who did. that's not true with every job or every person but there are great opportunities in all kinds of industries. i do worry about the windmill industry because this is all subsidized by the government and those subsidies go away some of those jobs are going to go away too so yeah. i love the fact that people have different opportunities in life, not all choices are wrong choices. there is a right choice for everyone and college doesn't have to be part of it. be when i agree, college is not for everyone. thanks for joining us, appreciate it and see you again soon. don't forget to send in friday feedback. we want to know if you think college is worth it. email your comments to
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varneyviewers@fox.com. businesses are increasing security at malls to prevent smash and grab robberies. jeff flock at the macy's store where security guard was stabbed by an alleged shoplifter. the report is next.
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stuart: i still see green. not as much as i saw an hour ago but 60 points up for the dow, 8 for the nasdaq. new york city's controversial congestion toll which charges drivers to enter midtown manhattan has been approved by the metropolitan transportation authority. and is this going to affect? liz: spring of 2024, nearly unanimous approval by the mta. if you drive your own car, going into manhattan between 6 am and 9:00 pm, you go below sixtieth street, you pay $15. that is on top of any toll or bridge you pay to get into manhattan, extra $15. if you have a big truck, $36.
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if you're in a taxicab, one dollar and $0.25. if you are in and uber, $2.50 was governor hochul caused this decision, cleaner air for everybody, less gridlock. she says you will be able to take the train and walked to your job and never need a vehicle again. can you confirm i won't get mugged or stabbed as i walked to my job? work from home, all these companies are trying to get people back into the office. if you live in the suburb you will never set foot in your office again in new york city. stuart: it is all about money. this is income for the city, they can charge you to travel. lauren: i will drive in every day. stuart: pay your toll. you could come in early like i do. lauren: they will make this go before, it will be 24/seven. stuart: all right. thieves start clout stealing millions of dollars from
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amazon. how did they do it? ashley: they are suing what they call an international ring of the use, refund scams that included buying products on amazon and refunds, returning the goods, the suit names an organization that advertises its refund services on social media sites. 30 people included in the suit from the us, canada, uk, greece, lithuania and the netherlands. are defendants in this, this involved hacking into amazon's systems, then they approved reimbursements, items stolen included gaming consoles, smart phones, laptops, even a 24 karat gold coin. now facing charges. stuart: this one for you as well. washington dc taking action to
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address the crime surge. what are they doing? ashley: dc police about to launch a real-time crime center where authorities work around the clock to monitor live video from hundreds of closed circuit cameras across the city and provide immediate in formation as officers respond to emergencies. the center is scheduled to open in february, staffed 24 hours a day 7 days a week. it comes as robberies and homicides are soaring in dc. also a rise in carjackings has a lot of people on edge. mayor muriel bowser's administration under a lot of pressure to address the violence and try to restore a sense of safety to the city. stuart: many businesses are beefing up security for the holiday season, shoplifting continues to run rampant. jeff flock at the macy's in philadelphia where security guard was stabbed to death. what are they doing their?
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>> reporter: the macy's you see behind me is across the street from city hall where the police hang out. you know the story. this happened on monday. a guy comes in, tries to steal some hats, security stops them, gets the merchandise back, they give him a break basically, he comes back and stabs one. we all know the numbers on retail theft, the financial impact, $112 billion, has been on the increase. this the weird year. people protesting israel, gaza, the theft that goes on, the violence in the streets, here is how the fbi director put it. >> i've never seen a time where all the threats were, so many of the threats are all elevated, all at exactly the same time. the threat level has gone to another level since october 7th. >> reporter: i leave you with
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some tips from fox digital. if you are out shopping, know where you are in your surroundings. don't be on your phone with your head down, mesmerized out there. that turns you into a soft target. if you purchase stuff don't stick it in your back seat with a sheet over it. that says smash my window and take me. lastly, unless you yourself are heavily armored don't try to be a hero. of summary wants your stuff that bad, give it to them. you always think i won't stand for, won't let them do it. i don't know. i don't know what the answer is. stuart: what a situation a couple weeks before christmas, what a situation. shocking. the administration issued a new rule that would cut methane emissions from oil and gas wells. will that raise energy prices? the former epa chief will dig into that in the next hour.
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stuart: there is not much green left, the dow was up 70 come nasdaq up 38 points. drive throughs are using artificial intelligence. however, there are problems. spell it out. ashley: yes they are. presto automation has a talking chat bot to take drive-through orders. it is used by hardee's, del taco, but not exactly replacing human workers. presto says there are outside agents used for 70% of orders, texture the ai system doesn't
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mess up. the robot offers a beef quesadilla. many of these are based overseas, the workers are going to help train the system which would need less intervention. in the meantime no guarantee the order will be right. stuart: fox business wrapping up its ai week and we have a guest is the ceo of a company that uses artificial intelligence for trips and vacations. the ceo of matador networks joins me now. i want to fly from new york to florida. i need a rental car when i get there in a hotel. tell me how ai plans or helps you to plan my trip. be specific please. >> reporter: that would be
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child's play for our ai travel agent we launched earlier this year. approaching half a million active users. it it is not in apps. you would connect with the ai which is free for everyone. let's give you more of a challenge. i want to fly from jfk to miami, fly business class. immediately you say monday coming back sunday, there's no calendar function. the best, fastest and cheapest itineraries and you can look at those deals, it scours the entire internet. staying with rental cars but say you want to give it a challenge knowing i love to play golf. my wife is vegan, my daughter is 16 and wants to sit by the pool and my son is learning to
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surf. in three second it will build you a 1-week itinerary where all the restaurants love vegan menu options, it will have spa recommendations, golf course recommendations for you and probably recommend surf lessons for your son. the more specific you can be it is almost human level interaction but much faster. stuart: how do you make money? >> good question. we want it to be free for every one. the way we make money is we are taking our best in class ai and that builds custom ais for tourism boards, cruz companies, we are working on this for over a year and they want to use this technology. our prediction is a year from now or two years from now,
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every airline property will have their own ai to help you plan. the guy who troubles the entire travel world -- stuart: that was a very good explanation. even i could understand it. thanks for joining us. hope to see you again. just ahead, roger marshall, block the foreign aid bill, the republicans want border reform instead. i will ask what he wants to do, steve hilton on the president of harvard being forced to apologize after capitol hill testimony. former epa chief on how biden's new rules on methane emissions will affect natural gas prices. the 11:00 hour is next.
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