three things led to this collapse of the spac business.noted the performance of companies taken public through spac mergers fell 45% in 2021 and 75% in 2022. the second thing was an increase in liquidations. as many sponsors opted to return capital to investors because of the inability to complete deals within the required time frame and timely, and perhaps most importantly, the involvement of the s.e.c., which stepped in to propose stricter rules governing forward-looking statements and accounting disclosures that scared the lawyers and accountants and spac issuance dropped dramatically after that. the question here, wilf, is this some kind of spac resurgence i think this may be a little anomaly. we're definitely seeing a little of an ipo resurgence reddit, astra has done well. i wish faber was here because he's so good on this >> that's a bit rude i'm meant to replace him for the week. >> it's hard to replace david, but you are definitely the one for it the lucy goosy problem with the forward-looking statements that were made by these co

chargers went public through a spac. the opening price was $10 a share. it's now trading around $1.75, having lost something like 80% of its value. >>> the most recent inflation numbers, the cpi, showed that prices were going down at the grocery store. still higher than they've been, but they're going the right way. the price of a single banana is going up at trader joe's. if you shop there, you're probably aware they sell their bananas by the banana and not the pound, and the price has been 19 cents for years, going up to 23. i was reading the price of cocoa to make chocolate is now $10,000 a ton, which is enormous for chocolate makers. it's easy to say you're not going to relish that pickles are getting more expensive. but when we're talking about the cause being the climate, and in the case of cocoa and bananas, it is, it is the hotter climate causing the prices to rise. >> these are healthier things. >> absolutely. imagine the climate effect on wheat. >> corn. all right, thank you very much. >>> 6:18 right now. trend

spac goes away. you get your ten bucks back.approve it at 44 bucks, aren't they? and as i pointed out next week, more importantly, the de-spac occurs. the additional shares hit the market. and i tried to explain that to people. sometimes we may need to go back, because people may have forgotten how spacs work. the sponsor shares, the new shares that come in, trump media and technology group is going to own some, by my reading of the latest filing, some 87.5 million shares, and then have the opportunity to earn another 40 million shares in what could be a very quick manner because all those shares have to do is stay above $17.50 for 20 trading days for that 40 million to go. you're talking 127.5 million shares. trump owns 90% of that. it's an enormous potential number, jim, but the question, of course, is if and when you go to try and monetize what happens, because we are talking about a company that thus far has had very little in the way of revenues, some $3 million for what would be, if you do all in and include warrants and c

spacs don't always hold their value. charge-point, the south bay company that makes electric car chargers went public through a spac. the open price was $10 and it's now lost 80% of its value. cpi showed that prices were going down at the grocery store. they're still higher than they've been, but the price of a single banana is going up at trader joe's. they sell their bananas by the banana and not by the bound. the price had been 19 cents for years and it's going up to 23 cents. part of that is inflation, possibly, but it's also the banana supply. and we've talked about this before, the food supply being affected by the climate. and we see it as higher prices, but there's a little bit of panic there, too. if our food supply is affected by the climate, who knows what happens. >> scary. it's bananas. making light of it all. >> quite literally. that's what i feel like this morning. >>> hey, trending this morning, if you are fling lucky, it might be time to buy a powerball ticket. there was no big winner last night so the j

>> so the business is actually trump media the shell entity is the spac. and so not surprising that there isn't a big gleaming office tower for the spac. it's looking to acquire something. and again, that real business and it's acquiring is trump media who is fueling this >> well, i think michael, you've got sort of two sides of this. there are people and you can look on all the chat boards because as you noted, this is become a meme stock. so something that is getting a huge amount of investor frenzy and so there you see on the chat boards, people who are true believers that trump media and its various components today primarily truth, social is going to become a dominant media platform. and so they believe they're getting in early. and this is going to continue to run the other side seems to just be joining the frenzy and trying to make a quick buck >> i thought that truth social and i'm registered on it. i don't use it. i thought it was kind of a bust. i mean, what does this say about the value, the real value of trump's media property? >> well, let's p

butte as trump media on monday, and the market value based on where this spac was trading on fridaynd $5 billion. that's a very high valuation given the fact the company generated about $3 million in revenues in its first nine month if last year and no profits. trump's stake is worth about $3 billion on paper. i'm emphasize on paper. as for anything close to that $3 billion, unsure given the fundamentals of the country. of jon jon you thought reddit was extentive at a 10 times, this is roughly 1,000 times. sales, not earnings. i'm glad chairman powell, investors don't seem too worried about a inflation, but i'm not sure we're out of the woods yet. >> no, i don't think we are either. i suspect powell knows that. i was looking at the inflation-protected securities a market, and we've seen that the amount of inflation priced into those go up to 2.43%. that was from about 2.05% in december. and if that keeps going up, the fed is going to have to start worrying because it really needs inflation expectations to be anchored. but we're also seeing other central banks are in this cutting kin

at the exact same time you had his spac or trichet.was trump mediate technology group that has been in the spac process since 2021. the ipo frenzy that we had. the trump group got in on it, but it hadn't completed until yesterday in the 11th hour. what that does to his fortune is not only make it easier to pay the bond payment, it makes him one of the 500 richest people in the world according to the bloomberg billionaires index. it comes to the fact that his 56% share in the company is now not worth virtual money, it's worth actual stock. what's significant is that those shares are locked up for six months. so he hasn't cashed out on a yet. but he can in six months. that emphasis means he can pay his debts and liabilities and it's creating a little bit of cushion for him. tom: how much cushion? he's got that lock up for six month on the spac, where are we in terms of his financial affairs, is he in the clear of this? >> is not in the clear because this is just one of many in the last 24 hours, his criminal trial date was set for april

at the nasdaq, it's blackhawk acquisition, a spac celebrating its ipo. >> spacs, you know, leave me coldys have a very nice, rosy hue at the beginning, and then they let you down there was a spac that wi was looking at, apropos of the squawk, getty images you feed getty images into the brand-new blackwell, and it remembers it so if you wanted to say -- let's say audrey hepburn, beautiful image, it will know it if you feed a lot of getty images into it people -- what they're doing is feed ago lot of video into it. i asked that james bond be fed into it. that will happen all bond so, you can come back and say, listen, tell me what cramer's like versus bond but you really wouldn't want to do that. >> right actually, i mean, it's a policy group forecast, but bloomberg has a piece today on the number of uk workers who might be displaced by a.i eight million over long-term >> i don't know about that servicenow does some great work on this, and they think the productivity boost is going to be so terrific that more people can be hired i think the displacement is overdone i think the productivity

they're still doing the spac thing. >> yes.ime, i guess, to make it so that people -- >> they're still doing them. >> it's ill advised, we know. >> you know what the problem is? we have this ceo on yesterday, sara and i, and he was, like, listen, i have no -- i wanted to go public the traditional way, but i have no certainty. spac gives me certainty. >> $7 billion deal? >> yeah, $7 billion deal. >> no certainty? >> that's kind of odd. we're not seeing a lot of ipos for whatever reason. >> dave cody with vertiv. >> you're going way back. >> i'm saying there's only two spacs. >> i could name maybe three. draftkings, vertiv, and -- i'll come up with it. >> oh, really? there are 300 of these, and you're having trouble. >> you're right. >> and yet there's people -- they'll say, oh, digital miner. i want a digital miner, let me go buy that. good luck to you. these are not stickered the way cigarettes are. but i want to help people, not hurt people. the odds do not favor buying spac. >> your buddy, that's a success. >> you and my wife

we see the spacs manipulation. the united states is helping taiwan tried to destroy the narrative. >> so basically, china is the source? >> yes, there -- social media will try to emphasize the interest rate on china. we are looking toward the state of india. we can compare and group them together and we could see it on facebook and twitter, for example. it was a narrative on china state media. >> very interesting that you are able to do that kind of detection work. i know you've had some really interesting reports. everybody can read who is interested. i want to find out from you, does this sound like what you are seeing in your part of the world, sort of video narratives being spread out from state actors, audio, what is the state of play where you are? >> also, -- >> tell us about your organization as well. >> i come from -- which was founded in central europe. we were founded in slovakia, but we cover basically all countries. we now have offices in kyiv and brussels and d.c. i am leading the center for democracy

they were part of a spac, as i recall. they had a lot of debt. through some of the fundamentals. it looks like he's overdosed on chips. let's see if he comes back or will go into a food coma. i think that's what it is. i think it's a food coma. is he back? he's back. i don't know whether you heard my question, peter. >> i did. >> you've digested now. europe good. >> i heard the joke in there as well. >> good. >> when this de-spacced, the question was a lack of conversion from the operating improvements into cash flow. new ceo howard freeman has come in, a pretty shrewd move to sell off the assets, the lower performing brands and he's taking the proceeds to delever the company. we think they'll get closer to the 3 1/2 times leverage by the end of the year which puts them in line with most of their peers. that takes that headwind off the table. on the fundamental side what's particularly interesting around utz, the salty snack category has been going through a bit of a sluggish period here. you've seen volumes fall off. what's interesting to utz, t

without protected bike path, or bus lanes with limited access to the green spac drivers, cra five times average. all of this looking locking people out of economic opportunities and social life from the rest of the city. congresswoman moore told when she was a child she lived by the library, safe place to read and learn. and give cake, the librarian gave cake to the children when they showed up to read. that's true, isn't it? but then the new plans disrupted the walk and made the library inaccessible. sadly too many communities face the loss of wealth, prosperity and the possibilities tt still reverberate today. imagine all of those homes, mom and pop stores that could have been posted and passed down from family to family, financial security, generational wealth would have resulted. imagine what they-- what they contributed then and■ what they could have contributed all of these years and what that would have meant for milwaukee and all of the communities across the country. for generation brown, native american, asian-american, native hawaiiens communities weren't fully included in ou

most spacs have covenants. >> if there wasn't, would you sell right now? >> i don't know enough about the company, you know, so i'm not going to -- i would recommend him noting asking metaquestion. [laughter] liz: larry. >> so you would give him no advice? >> it looks high to me on every metric are. it looks like a very high stock price. but, look, there's a lot of momentum going on there. time will tell. by every metric, it's very, you know, it doesn't make any money. by every metric it's a very expensive stock. >> you don't expect a call from him, right? >> i would take his call, and i would give him advice if he asked, but that advice would be private, charlie. >> okay, thank you. liz: larry forget about a some of the ipos recently, the s&p is, we just showed it, to some it looks very much like a bubble, and it has the characteristic ofs of a bubble. not just the s&p, but this entire market. it's getting frothy, it's good what many would say is a compelling story, that would be a.i.. with what kind of meetings are you having at a blackrock about how to

there's what's called a spac. it's one of these shell companies that they take on the market that has stock. it doesn't have assets and they merge it with a private company which will be trump media in this case and where the stock in that spac is trading suggests that donald trump's stake in what will be the public trump media company is worth several billion dollars, maybe like $3 billion. >> so could you be waiting for that to shake out? well, are wanting to delay this until it could i think he would like to, but the problem is that that transaction hasn't happened yet and there are various restrictions on what he can do with that that stock, even after they go public, he supposed to wait at least six months before he can either sell it or borrow against it so that those assets are not available to him right now, but those are also very real assets of his that both that is an obstacle to him filing bankruptcy. and also, if i'm letitia james and i'm looking at this and thinking about what assets of his that i ca

it was, there was a merger with digital world, which is a, which is a spac , and it finally got is a approval a couple of weeks ago, which allowed it to start trading on the nasdaq, this morning, the stock now is currently worth, $10 billion. president trump's stake is worth about 60% of that. so about $6 billion that that makes his net worth about $9 billion. and to put it in to perspective of the new york times it's worth about $7 billion. so conceivably if he could use the stock as currency , could use the stock as currency, president trump could buy the new york times , which would be new york times, which would be quite an irony. >> well, that certainly would be, wouldn't it? what, i mean, l, be, wouldn't it? what, i mean, i, i got the impression, jason, and obviously, i know that x is enormous, and so is facebook and many of these giant companies, but i kind of had had the impression that truth social hadnt impression that truth social hadn't really taken off the stock market. figures tell a different story. >> well , different story. >> well, nigel, you're quite right though i

celebrating its listing via spac. they priced at $34.ompany could raise as much as $748 million at the top end of that range, which is $34. roughly 22 million shares. of course, first social media ipo since 2019, and the company was selling 15.3 million shares. other selling stockholders, jim, to your point, 6.7 million. long time, some people have been waiting for liquidity at reddit, given how long it's been a private company. >> how about that "conde nast" home run? >> yeah. >> that was nice. nice investment. it's good to see someone from the print world actually have the foresight, even though it took a long time to get the payoff, but i always think it's such a shame. i saw yesterday, the breakdown from associated press, and look at these institutions and saying david, what the heck happened? we had a really powerful press in this country. i don't think people realize at home how fractionated, how unimportant so much of what print is, and so seeing that someone from print got in on this and made money, think, hallelujah. >> yeah, it

it was, there was a merger with digital world, which is a, which is a spac , and it finally got is ary approval a couple of weeks ago, which allowed it to start trading on the nasdaq, this morning, the stock now is currently worth, $10 billion. president trump's stake is worth about 60% of that. so about $6 billion that that makes his net worth about $9 billion. and to put it in to perspective of the new york times it's worth about $7 billion. so conceivably if he could use the stock as currency , could use the stock as currency, president trump could buy the new york times , which would be new york times, which would be quite an irony. >> well, that certainly would be, wouldn't it? what, i mean, l, be, wouldn't it? what, i mean, i, i got the impression, jason, and obviously, i know that x is enormous, and so is facebook and many of these giant companies, but i kind of had had the impression that truth social hadnt impression that truth social hadn't really taken off the stock market. figures tell a different story. >> well , different story. >> well, nigel, you're quite right though

down by the most on record, trading around $.40 per share, miles away from its ev spac euphoria. in vcu, henrik fisker. we are grateful for you coming back on the show. you are talking to a single automaker and you are not naming that automaker but the hope is you form a partnership and that includes an investment from that automaker into your business to give you a cash injection. why would the automaker do that at a time when ev demand for growth is slowing and the legacy oem's are pulling back? henrik: good to be on the show. we have shown we have delivered a vehicle which is the first real competitor to the world best's ev, the tesla model by. it has a longer-range, more features than tesla model wife -- model y. everyone was to kill us because no one likes to disrupt or coming into the market and doing this. i think we have value and we have proven it. we have two vehicles ready to go, both an affordable ev and electric pickup truck. we have a lot to offer. it will be great to get a large oem in. as we pivoted to our dealer model, i feel we are doing really well despite all

this is a special interest company, spac.ith public markets, there are restrictions on sales of the stocks. because of the sec, not a plan for him right now. >> carley: he already has $500 million and he's just waiting to pay it because it benefits him politically. we'll wait to see. >> todd: full steam ahead on the trump trashing train. >> the republican nominee, a self-professed billionaire, donald trump, has a substantial cash problem and a big one. if there is one thing donald trump loves, it is other people's money. easiest option facing donald trump is prospect of bankruptcy. >> there are people who want the bad guy to be president. >> if seizure of assets would be pursued to any other american, donald trump should be treated the same. there is risk is not seizing the assets. >> carley: joe concha joins us now. biden campaign is mocking donald trump and came up with a nickname, broke don. i just said before, we've seen what happens before, you mock the president and make him look like the victim he is, it benefits him p

but we have to think about the overall cost of operation including the operation in the maintenance space, it will be 20 years or 25 years discussion, so we always persuade the host government that please, consider the life cycle costs, life cycle costs. so do not focus too much on just initial cost. so this is an important point. what japan and the united states can explain to -- especially in grouping do not have enough experiences in long-term life infrastructure projects, so, like you see sometimes visit the government and the developing country's businesses and explain the importance of life cycle cost and how to achieve the value for make investments and get the value as much as possible. and so this is what we are doing. >> i just want to piggyback on those insightful comments, bothional and capital costs. our advocacy with third countries is not a one size fits all proposition. ip protection issues and personal data privacy issues i've referenced and reinforced by others on this panel. there are certain instances where a much more nuanced specific conversation can be add had and

that is the spac that is going to very soon de-spac with the accusation that is planned of trump mediaich includes truth social. i know people may have a hard time sort of working through the numbers in terms of how many shares are going to be outstanding. i had it in front of me not that long ago. i apologize because i didn't know it was going to come up right now. there's going to be a lot of shares out there. this thing is at 38.93. it will have access to as many as 100 million shares. i want to do more, would, guys. the point is, even though he's locked up for six months, and i don't know how to view this story from "the washington post," but he's going to conceivably at some point have access to an enormous amount of potential money if the stock stays where it is at 39. the vote is scheduled for march 22nd, guys. this thing will close soon after. i'll take a closer look. we may have more on it in the days ahead. it's something to keep an eye on. >> definitely. meantime, dow has gone red here, about 30 points. talked about the ten-year approaching 4 and the teens. the big news afte

even so, this is a highly anticipated listing even though it was done via a d spac.hat broadly is the investor interest in trump media and technology group. tell us about what the company is and does. bailey: the crown jewel is truth social, a twitter look alike which is donald trump's preferred social media platform. that's where he posts and engages with fans and followers. putting apples to apples comparisons he has about 8.6 million followers on stte truth social, about 10 times that on x even those posted one since january of 2021. when you look at the retail we've been tracking on truth social and wall street bets forums is this as seen as a way to back donald trump or view him through his push for reelection in the 2024 campaign and that's what we saw the stock when it was trading under the blank check sticker, went up 80% when desantis pulled out of the race. it's been tied to his prospects to become president again. ed: bailey lipschultz, one of the best out there at reporting, coming up, robinhood unveiled its newest offering which is a credit card. the cof

some of them do spac's.ump's startup having voted today on whether digital world acquisition can proceed taking trump midea group public. it runs true to social, the platform. it has been a long-delayed deal. it has now proved a number of insiders and former associates sued to block the deal stand to pocket millions of dollars. ed: coming up, we are going to dive into the world of climate investing, ai. what on earth happened this week in ipos. anything and everything we have spoken about this week. kim-mai cutler. really looking for to that conversation next. this is "bloomberg technology." ♪ you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you. mere minutes away. the future is nothing but power and it's all yours. the all new godaddy airo. get your business online in minutes with the power of ai. billy's not just running a small goat grazing business he's also the chief marketing

they ring it all the time. >> i think this ai fight and spac between nikesh and george has legs because it's continuing on twitter and it's going to get nasty by the time it's done. i'm going to get over there and -- >> might be electric short - >> we have a new statement from microsoft regarding this piece profiling the engineer who shared his concerns with not just cnbc but the ftc as well. microsoft writes we are committed to addressing any and all concerns employees have in accordance with our company policies and appreciate employee efforts in studying and testing our latest technology to further enhance its safety, jim. the story and the engineer's concerns sort of spell out plug in anything, pro choice. >> it's true. >> and the library of offensive images it will give you. >> it's interesting when you speak to the people at reddit, which is going to be front and center within the next month, they think communities are policing this so the communities will say this isn't right. this is a closed shop. there's no community to police it. >> no. >> and it's -- listen, i mean adobe, ve

on native american culture appropriate in lands, museums and the phrases 5ñ4urecolonize museums and spacsmerican story in a proper, more expansive way. so in deerfield the native point of view is sought after and widely accepted. also is the african american point of view. there were slaves in new england. there were slaves in new england, even in deerfield williams had two of them, and he had purchased a few more, both of both of his slaves, frank and christina, were killed by the natives the night of the raid. and then the next night, and also lucy terry, prince preceded phillis wheatley, the first african-american poet. and so deerfield is now also marking the locations and places where we're both native american, had an important center field and were black. americans had an importance in deerfield. so the deerfield is very open to all this is in the conflict filling memorial association and memorial hall were really in documenting the black presence and the indian point of view in deerfield and that's really my favorite standalone museum in america. so i recommend if you're passing t

three months of the year so it is a prime condition, to come to market with a listing like this kind of spacnder up 25% right now sitting level 6240 i want your take on broader market the first quarter, has been very good, take a look at numbers, first quarter, the dow industrials up 4% as you just said, the s&p up 9 1/2% this quarter nasdaq up better than 9%, first three months of the year we enclosed out the quarter this week tell me how the rest of the year looks to you as we come off this euphoric period for stocks in the first quarter and last year by the way. certainly a lot of chatter about risk of corrections, seven to 10% would really take market down to maybe 47, 4800, quite frankly, might ren size power sideline cash to take another leg higher ultimately, when we look at instances in which we've seen gainers for four consecutive months 12-month forward basis to see produce additional gains one hundred percent time 16 instances back to 1930 pods, the median return has been 19% over the subsequent 12 months a low of 5%, positive return, to a high of 40%, so, again, passes if past pr

. >> one thing you have dealt with at ubs for 15 years, you have heard people on board with spacs orloud or 5g, but few companies really monopolize the industries. how do you find the quality in technology that has an appropriate valuation that is not too problematic for the shareholder? >> the interesting thing with a.i. compared to other areas is that right from the beginning, you've got the companies that own multiple stages of the value chain. some of the others own one stage and that is ease foy for the prs to evaporate. for these, many of the companies own all of the stages, so for them to build moats with the productivity we are about to get is quite high. that's why the big companies are getting bigger and that trend will continue. >> i don't have to pay eye watering prices to own these companies? >> it is about scale. if you look at the quality of the applications that we are getting from a.i., a lot people are willing to pay those. businesses are willing to pay for the productivity boost. if you scale that across hundreds of millions of people, you are getting that profit b

this company was one of the highflying spac's that went public via the special acquisition company duringhe pandemic and the share price has fallen almost 100% since then. sonali: for scare shares now down about 50%, the most ever and at the lowest ever as well. what else are you keeping an eye on? how is the tone shifting among investors? >> one stock has been moving around all morning. most metrics on the earnings front actually beat in the stock is down 4% of the earnings were pretty good. the full-year revenue forecast beat fourth-quarter revenue and eps profit. a number of wall street analysts upgraded their price target, jp morgan, evercore and yet the stock is down 5%. perhaps the first quarter forecast mr. revenue. they see revenue at $330 million versus 347. i was looking for the earnings report for this automation software company that deals with generative ai. i was looking for what was driving the stock lower and analyst notes says the earnings report does not speak to that yet so we will have to look more into that. sonali: thank you so much. coming up, we'll talk about saudi

i think the fact that the truth social spac is coming to market in the coming days or today, i think,hich is an opportunity for sure. >> we will leave you there thank you, john. the senior specialist at mirabaud group. >>> coming up on the show, the u.n. security council resolution calling for a cease-fire in gaza for the first time we'll have more from the region after this break hi, i'm janice, and i lost 172 pounds on golo. when i was a teenager i had some severe trauma in my life and i turned to food for comfort. a friend told me that i was the only one holding me back from being as beautiful on the outside as i am the inside. once i saw golo was working, i felt this rush, i just had to keep going. a lot of people think no pain no gain, but with golo it is so easy. when i look in the mirror, i don't even recognize myself. golo really works. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a

. >> maybe that will end the spacs. >> the spacs -- >> that's what it took.here's a lot of news on apple today, down in the premarket. the eu does fine the company nearly $2 billion, alleging it abused its market position for music streaming app distribution, stifling competition from rival services. apple says it will appeal that, claiming the eu failed to uncover any credible evidence of consumer harm, although regulators say the ten-year conduct, jim, may have elevated prices. apple is going to appeal. >> un,you know, every six month they ask for a check from our big tech companies. our antitrust department is no better. these companies view apple as a honey pot, i think. but there are various stores that they have to do. there could be a work-around, but i think the negativity toward apple has to do with the fact that people have had it with just the -- i'll caution you. the samsung phone at best buy, trading unbelievably hot. it's filled with seven different features of a.i. the apple 15 has very little a.i. >> this is now a company that a lot is going t

spacs corrected, nfts corrected. all this other nonsense self-corrected so maybe you have the momentum names ahead of themselves. but you have the rotation. money coming out of nvidia maybe it's finding a home in apple or maybe finding a home in tesla or alphabet. >> let's not lose sight of the fact that the s&p 500 small caps has outperformed s&p. >> is that new high for the equal weight s&p 500? did you realize one fifth of that index hit a new 52-week high recently. so it's not like you've had a vacuum. you had the stocks at the top go down and nothing else is shoring up the foundation. >> yeah. well i -- that's the point. the broadening is happening. it's possible for the rest of the market to come up to meet where the magnificent seven or fabulous five, what are they are. it's possible to come up and meet that performance. i think it's happening. i do see the broadening. i mentioned it in equal weight and small caps. but i don't see the breakdown we're talking about here in terms of momentum. i see nvidia up two

coin base's performance after its ipo, you look at what happened with wework when it came out as a spacee there's risk appetite, it is good to see. when an ipo comes out, it is a risk-on move for the market so i think that's good. i just feel like retail investors probably should kind of sit tight, see where it goes, and make their decision later on as to whether or not they want to get in. maria: talk about risk-on. what do you make of bitcoin, mark, surging above $71,000 for one bitcoin this morning. this is an all-time high right here, mark, 71,678. what is behind this move? i know that bitcoin etf certainly was part of it but it's continuing. >> yeah. and you're seeing just more and more continued demand for crypto and maria, i want to tell you, i am not a crypto bull by any means. i'm not a bitcoin bull but i buy some every week. i think it's a great you diversification play, i think it's a hedge. there's a lot of people in other countries worried about their governments confiscating assets. take venezuela as an example and this would be a hedge against that but now there's more an

there's also, you know, a calmness arou, but, you know, if you can just keep your your mental head spacifferent challenges. preparation never stops. >> we usually don't get much sleep the night before, a big swell, and half of that's and st develops and all the logistics that go into providing safety while safety crews are working in the very dangerous conditions in the surf zone. >> there's another set of eyes a very different perspective. meet eric w nelson, the designated wave spotter. when mavericks is breaking, he hikes up this cliffúwith camera gear and a radio. >> my running joke is i'm of water and i'm afraid to swim. so i said, how can i how can i help out? and they said, you're on the cliff. keep an eye on things,úright or down. guy got swallowed. if you got a board, you spot a loose board. not yet. i'm focused on the sky on the outside. >> after set waves roll through. there can be a lot to the big pt onlyúhe can see. there is constant communication with team >> wec had a, set wave comeol.t- through. it was like six seven waves in the set and four of the guys got taken out. w

are two other big supporters of nuclear power and talk that altman could take it public through his spacll. and waiting some of the more novel ai applications being discussed here at south by southwest this week. one example i have to bring up now, south korean developers debuted an app called soul link, to talk to a dead loved one that's literally out of a black mirror episode, guys. >> i sort of cringed at that. oh, i don't know how i feel about that one. >> you should have seen courtney perk up. she had her head buried in something over there. >> oh, i don't know about that. >> so how much -- how much power does it take to power ai? >> reporter: that's a great question. and we're talking about an age of ai before llms or integrated into search engines. what's that happens, it's going to go through the roof in terms of what's needed to electrify ai. the bottom line is data center rents are spiking up almost 16% from 2022 to last year. and you know, we're not even talking about electrifying vehicles across the u.s. i think the bottom line here is that more power is needed and nuclear is

if we focus too much on the process we miss the individual nuance and what a person can bring to a spacistorians often miss the opportunity to draw really interesting parallels and to draw really interesting by going outside of the one person's life and. that's not to say that we have to compare to everything, but i think that when we d us see important patterns in american history. we know that it does not repeat, but it often rhymes. and so there are things that comeamerican history. there are different ebbs and, flows to presidential power and to the president's relationship withamerican people and. i think by not drawing those comparisons, we we miss a lot of that. and we actually weaken our argument because we weaken we ve the ability to say in a broader context, always why it matters that. so what historians sometimes have trouble addressing if they're not willing to go outside of their little bubble of chronology. and so i think that there is a real element of that approach that we can we can and we should embrace, that i want to move on and talk about individual presidents. but

once we're in our own space and if ye, once we're in our own space and we get to create that spac it's really fun. i am here because i have seen women do it. >> if you can see her, you can be her right now. someone could be listed as the owner of your home and stealing thousands of dollars of your hard earned equity. anybody who owns property should worry about home titles. and there's no other crime that is so easy. so quick and so lucrative. your home, your equity and your peace mind can all be stolen in one fell swoop by home title thieves like matthew cox. nobody thinks that i can take their house. nobody thinks that. believe it or not, a single page document is all it takes to transfer proof of ownership out of your name. people think. wow. there's a whole huge process. but the truth is, it's a one page document, but it still must get through one final barrier. the county clerk. when someone comes in with deed, if it's notarized and all the spaces are filled in, we by statute have to accept it and not give it back to them and say, we know this is fraudulent, we're not going to fil

the wild card is if you remember truth social, it has this weird spac arrangement where it's going to go public on wall street. the vote is on friday. if those shareholders vote to authorize that, trump could come into more than a billion dollars worth of stock out of nowhere. he probably couldn't use it any way, but that's the wild card. if that vote goes forward, he could get an infusion of cash from shareholders. >> just to add to david's point, one thing that's important to remember at donald trump's cash position is we don't know unless we have his bank statement from this morning. about a year ago, he may have had 150 million in cash, but he has got constant draws on his cash. most of his businesses lose money and some require capital injections so i think it's just really important to remember unless you've got a bank statement from this morning, you really don't know what you're playing with here. >> it's a privately held company and it's not as transparent as others might be. michael, i've been saving you because i want to get the politics of this and what donald trump might

truth social received approval to merge with the spac and could start trading as soon as this week.initials of course. the deal has been in the works since october of 2021. truth social needs the capital to grow, maybe stay afloat. this means trump will see over $3 billion potentially. that number could change pending ongoing litigation. based on the current share price the company's market can cap is over 5 billion. trump will own 58% once the merger goes through. the stock lost 14% on friday following the announcement. it's regained some of that in premarket trading. here's the wrinkle. the former president can't sell shares for six months. when the company goes public there's a lockup period. the board could approve a waiver. if trump were to sell a significant portion of the shares it could tank the stock. there's a possibility he could use the shares as collateral to secure the appeal bond. any process could take multiple days. the runup was in large part due to the former president's supporters, it's an interesting way for his base to financially support him outside the tradit

trump social platform also is moving lower by 6% on the session after surging on the completion of its spacmerger this past tuesday. now, as we close out the month and the quarter, what do the market gurus see ahead for all of this? so here to do it all is ceo kyle wolf. kyle can, let's talk markets and rates at the same time because stocks look incredibly impressive. the data that we've gotten -- but, or again, we're getting the big one tomorrow, pce which is, of course, the personal consumption expenditure number that the fed loves, wig e sort of -- biggest sort of inflation number for the fed, we don't know what it's going to look like, but the data so far has held up. so what kind of federal reserve cut and when would you expect? >> yeah, i mean, we're sitting here look agent the 10-year sitting at 4.2. it's not going up or down, the markets are factoring in 75% or, like you said, 78% that they will cut rates. i mean, i don't know. i don't think they have any urgency to cut rate ifs you listen to the fed governors, but i do think the market thinks they're going to cut rates, and i think

to get at that money immediately, he would need a vote from the board of the spac to release that moneyeivably could drive down the value of truth social. so there's a bit of a dilemma there. and i think this money issue though for trump is a serious one. he's still got the $464 million judgment. it's been reduced pretty much down to the interest -- paul: the bond, yeah. >> the bond. so he has got a lot of problems facing him with money, and he has to run a campaign simultaneously. while he's spending all this time in court. so trump is not completely out of the woods with. he's using the courts as a fund raising venue right now, they've basically become his rally venues, so he has a way of surviving. but these money numbers are huge, paul. paul: yeah. allysia a, the truth social valuation seems, how shall we say, out of sync with the actual profits? that site has never made money. what do you think of it, is it like dan said, basically a way for people to give a vote of confidence for trump's campaign? if. >> i generally agree, but if you look at a lot of the speculative stocks, if you

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and, listen, don't even get me started on these spacs. they're both sizzling. i want the bring in tom zaslav. i know you had a chance to get a piece of the action, some reddit right around the $5 billion valuation. talk to us about what your thoughts are about this company. we know it's not, it's not -- they're not making money yet. we know it's worth a lot less than rivals like facebook and snap and twitter were at the same time when they went public, and knotts a young company eitherment -- it's not a young company. but what do you think in terms of people that are thinking about buying it right now? >> i mean, i can't say at $46 or $47 where it's trading right now that, i don't know, i don't know if it's cheap oring expensive, but i can say that i do like reddit. obviously; i wouldn't have gotten involved in it if i didn't like it. it's one of those companies that's been around a long time. it is kind of a very interesting retail play for people that like social media companies, that like social media investments. and so i think it'll

y'all are coming back for the next segment anyway, but the fact is this fortuitously, the blank check spacnvestment company is going to come through. they issued the stock today, i believe. >> truth social is doing very well. larry: so however well it's doing, the stock is doing great. people are rallying to his cause it's worth between $3-4 billion. now, there's an issue here and you may not be able to collateralize it. he can't take the cash off the table for six months unless they change the covenants in the deal. but that's a little -- i almost, i didn't want to forget that. all of a sudden he's sitting on a pile of even more cash. >> translator: and the week that they're trying to bankrupt him, he makes $3 billion -- [laughter] >> the irony. [laughter] my kind of guy. larry: my kind of guy. remember, charlie, used to work on wall street. i know all about them. somehow the money just materializes, you know what i mean? it's like, build and they will come. [laughter] all right. we're going to take a quick -- $3-4 billion for that truth social. charlie hurt, katie pavlich are, roma darav

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>> well, of course this is what's known as a spac special purpose acquisition corp, which has been utterly discredited on wall street in the last few years donald trump, unless they give him a waiver is going to be locked up from selling any of his shares for six months. and so even if he were to sell some of his shares, if he got that waiver and sold some shares beforehand before the normal lockup would have ended, mean he is so integral to this thing because there's nothing to it except for truth, social, which is you said is losing in a lot of money and really is only donald trump and his, and his tweets or whatever they're called on truth, social and so if he starts selling the stock that he owns in this company, it's going to drive the stock price down very, very quickly. they're very, very volatile anyway, it could become a bit get of a meme stock, given that it's donald trump. but this is not his solution and luckily, after today, i don't think he's going to need to turn to this unless of course he loses the appeal and then he's still those the 500 million plus this could be a sourc