>> jeff mills. >> ea. caught my eye. showed strength off of 120 i think the risk-reward is pretty good. >> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. i'm trying to make you money my job is to not just entertain but educate and teach. so call me today we got a bit of reprieve from the indiscriminate nat selling that we've been seeing and, you know what

the averages sold off harder earlier in the session but then they did a little rebound. dow closing down 107 points. s&p 500 losing. >> pete: .25%. that's not as bad as it once was. pt some of this is because the markets are hard hit before the federal reserve meeting. we're headed for what i think is a true make or break moment as you will hear later in the show. if you think the fed will keep pumping lots of liquid iity in e system, then stocks will go lower. with inflation raging, and it is, it is. there a very good chance the fed will start papping the brakes on the economy. i keep telling you it's time to own companies with real profit that's make things and return the profits to shareholders. there are two stories. the you have cyclicals and the secular growth stories that can work when business slows down. let's say you have a company

that sells razors and razor blades you need the same number of razor bladesen into a slowdown a company that sells high end furniture is cyclical. you have a lot more likely to shell out for new furnishings when the economy is good but when you're worried about the future, when you fear you might lose your job, you're not going to spend much on fancy furniture. of a few weeks ago when lot less worried about a fed mandated slowdown, we spoke to the soceo. she just delivered better earnings and at the same time wall street was willing to pay a lot for those earnings william sonoma is a dynamite company. the stock is valued 15 times earnings i thought the pe was too low i thought they could expand to

20 times earnings which could take the stock from 215 at the time to above $280 in other words, pay more for those same earnings. fast forward a few weeks and the world changed. wall street iscollectively decided we can't count on a homemade economy the fed needs to hit the brakes. the only question is how hard they hit the brakes. that means we could be heading for a situation where consumers and businesses are more concerned about the fuwe're no longer confident in the future earnings we're paying much less for them. now the stock without any negative news just that quarter was so good, the same stock is selling for 12 times earnings. that's a big decline from where it was a few weeks ago that is it after they reported that great quarter the brutal math is taking

william and sonoma down to $170. wow. of course so far nothing has changed. i bet it may be doing even better than we thought given the reports about christmas. doesn't patter though. the market spoken. wall street no longer cares about the current quarter to date people won't pay as much for the same earnings when inflation accelerated and very expecting the fed to get more aggressive about tightening that is not the only thing that changes. many stocks that have become public this year, they belong to what you call the fast growing enterprises including tons that are still a long, long, long way from turning a profit. these new issues from the class of 2021, they don't trade on earnings for the most part

heerdz the thing about price to sales stocks when the fed is your friend, wall street is willing to go easy that is a bad stock. even when there are no earnings to speak of. that's how you get the high flying cloud stocks with double digit price multiples. now it is running its course this group of high flyers, it has really gone down-and-out of the wall street fashion show the market is no longer willing to be patient with hard to understand tech stocks that have no earnings and never turn any capital to shareholders via buy backs or dif dents markets are done with those. stocks go up a spectacular sales numbers. now get pummelled for delivering the exact same numbers the result is chaos out there. the price to sales multiples as opposed to the price to earnings multiples keep plummeting. money managers don't want to figure out evaluation for the enterprises in this kind of environment.

they don't want to bother with them they sell them and it's not just half j.p. morgan published starbucks versus dutch bros. with dutch bros being the ultra fast growing coffee chain and we know starbucks it looks like starbucks can get $4 per share wall street is willing to give it a high valuation. how about the dutch bros as much as like the high octane annihilator coffee, you can't judge it by the same yardstick as starbucks barely making any money. hard to value. wait a second. it is going to make more money looks like dutch bros will earn more than $1 per share until 2025 nobody wants to take a chance on something like this. okay st so now get this this is now you know how crazy things are what is the justification for

liking dutch bros currently at the $49 share price? all right. according to the analyst j.p. morgan, you can justify it based on 2037 numbers. 2037 2037 numbers when there should be five times as many stores 2037 when they go out that far, they're going to bust a $49 price target i have to wait until 2037. let's take down annihilators and stay up until then but when we're worried about a fed mandated slowdown and nobody is willing to pay possible earnings mosh a decade down the road, good luck. the problem right now is we literally had hundreds of ipo thaz are a lot more shaky than dutch bros it's a great company the stock doesn't work in the current environment. there are plenty of newly minted stocks where you can't tell what they do other than they lose money. we should have lose mnl analysts

on wall street people at each firm that says i'm the lose money analyst is the right time for. that think about it like this right now wall street won't even give the fantastic william and sonoma the benefit of the doubt. that say well run company in a straight forward line of business imagine how money managers treat the stocks it's that good it trades at a price to sales basis. sooner or later, i think this is going to run its course and i'm still looking for santa claus rally. that hasn't changed. you'll know later on why you have to beware of multiple contraction in a market that wants rock solid earnings to apply a pe to, not shaky sales to create a price to sales but overall. and most importantly, not something that says if you hold it until 2037 you are going to make $10 let's go to sange in ohio. >> caller: hey, jim.

how you are? >> man, i'm great. how about you? >> caller: doing great, jim. love the show. love your passion for the show >> thank you >> caller: i have a question regarding crocs. love the growth. what do you think about the future of the company? >> you know, we look at crocs like we're trying find companies that came down that were really interesting. the group that i -- ben and me and the gang, we couldn't get our arms around crocs is still this high. we're going to hold off on it. part is we don't wear them so maybe we are kind of prejudice but we think the stock is too high versus the cohort let g let's go to arthur in texas. >> caller: hello, jim. >> caller: i'm going to cut right to the chase here. >> okay. good thing >> caller: i have been looking at art fificial intelligence and robotics and i had my eye on c-3.

wow, in the last 30 days it's gone down like 70% so i'm trying to find out if c-3 ai is -- >> you're not alone. there are lots of people who thought that this was the in part because tom is such a great guy. and he is the ceo and chairman but if you went ai, i am p not going to tell -- by the way, people say buy apple for ai. buy nvidia for ai. kathleen in new york >> caller: happy new year to you and all your loved ones. thank you for 20 years of a great learning experience for me >> thank you thank you. yeah, someone called me a fixture today. that's like why don't you turn the light on thing i don't want to be a fixture i want to be a living being. thank you very much. look at all the fixtures we have up here. go ahead >> caller: okay.

so here's the question so with the interest rates and the inflation rising, next generation stock affirm. when a new target price is put out on a stock, what is the implied term is it next month next quarter a year what are we to think about >> that's such a great question. and kathleen, i have to tell you, i try to think that it could be a six months. affirm, by the way, there were negative chatter today that bnpl is being changed to bnnp buy now never pay. or buy now pay never, which ever you want to do but there has been -- the long knives are out for buy now pay later. we have seen a big spike in losses at some firms not affirm though all right. i think the selloff is going to run its course i think it will be a santa rally. but beware of multiple

contraction. this whole thing is how i'm teaching about how somebody will pay something, pass a stock up here to the exact same earnings that they'll sell a stock down here and that's what's happening. "mad money" tonight, wall street is buzzing about the recent ipo this year. now the stock has fallen from the highs. with the stock cut in half, is it time to make a new connection with bumble? let's check in with the ceo. it's been a volatile couple weeks for tech should unvestors expect a rebound in the big tech names? we'll go off the charts to find out. we'll make it real clinical. and three companies, is this healthy breakup something that wall street is ready to welcome or more importantly why do they hate it so much? i have the company's top brass let's find out and stay with cramer

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with sing karaoke. plus, see sing 2 in theaters with buy-one-get-one free fandango tickets. join over a million members by signing up for free on the xfinity app. our thanks. your rewards. >> can investors meet their need for growth with bumble >> what do we do with the growth stocks that are really already come down huge once it came down in the last couple days, but down for a while. take bumble. the female friendly dating app that came public in february it is from $70 to $35 today. this is rough. a month ago bumble reported

solid but imperfect quarter. they all seem to now stock did go get owe advice rated. lately though the analysts have been circling wag onz around bumble they got three upgrades from hold to buy. i can get why. this say company with a nice growth story real earnings. might face more near term volatility thanks to the omicron strain this could be a strong reopening play as long as you're patient don't take it from me. let's dig deeper let's hear about more where bumble is headed welcome back to "mad money." >> thank you for having me back. let's get the elephant out of the room i'm what kind of reaction to your millions of users >> we are in a very fortunate position we serve people with the

opportunity to find connection when there is a lockdown or when the markets are completely reopened. this is not a stay at home stock only or a reopening stock only this is a business that is in all circumstances. demand does not change when these var yants pop-up demand doesn't change with different restrictions people need love people need connection that does not go away. irrespective of the changing landscape of this pandemic so our business remains largely unaffected during this new wave. >> when you spoke recently at the nasdaq conference, a virtual one, you mentioned in europe there are some issues like when restaurants close or when issues in paris you do call it an opportunity. europe is different but still working for you. >> listen, things change but we have opportunities on

both sides of the coin as restaurants and venues shut down, we might lose our opportunity to send people off line to bumble meetups or bumble parties. but we can take that digital we actually built a bevvy of features during the pandemic such as night in, a game to play with your matches when you're dating from home or even this reinforced focus around video dating. so even though you might not be able to run down the street to your local cafe, you can still hop on a video date on our product. so the landscape changes, yes. however, we have features and levers to pull when these markets do experience more trouble when it comes to getting people out the door. but alternatively what is so interesting about the very same features is how they shape shift when markets open back up. quick example is the video chat.

when markets open again, as women in particular are ready to go date again, instead of using that video feature to have an at home date, they're using it to vet the matches to make sure they have chemistry before going and wasting an hour of their life at the coffee shop. it is really fascinating to see how online dating is taking such a front row in people's relationship building during, in the midst of or even after the markets open and close. >> i'm glad you brought that up. i was pa ruesing -- well, your date site. it's not -- people can prove this without any sort of implication. it's a new one this app which was just named apple one of the apps of the year. so congratulations i thought two things stood out for me one, you were able to pick out, detect behavior that violates community guidelines i wish facebook would call you that would be very valuable. then the other thing is the artificial intelligence to make

it so you know what is the right foot to put forward. these are amazing innovation that's can spur the daily average user growth that wall street wants swlutly. en that has been foundational to us for from day one. this is why we have grown so well we have built a product with accountability, better behavior, trust, respect, at the helm. we agree that the internet can be a dangerous place so we want to do everything we can to make safety foundational. and so when we put people together, we really lean into ai and machine learning to make sure if you get an inappropriate photo, we blur it and tell you about it so you don't open it. so you can have a safer, better experience and everything we do is all through the lens of making sure you have more accountable, safer, better experience and then we use machine learning to serve you the best people that you want to see.

to really read and listen to what your interests are, to what you're looking for teen use our tools to serve the incredible people to you so you get the most out of this experience in a really safe and empowering way >> one last thing. this is very important in our family i think i didn't understand it i got schooled on this you talk about the importance to be able to change pro nouns. you can see a person's bioincluding pro nouns this is an issue older like i am did not understand i have kids that explained it to me but very important for people, isn't it >> this very important and inclusive ti is our pillar of ours. what you'll see from us in 2022 is an even deeper level of you investment into even more inclusive and rewarding products, features, and experiences for all of our members. >> look, i think the stock is too low. i did like it higher take it with a grain of salt if if the stock has come down all the way. a new app, a lot of exciting things i really want to thank whitney

wolf for coming on "mad money. aulz aalways great to see you thank you. >> long term >> i like that guys, look, this is the vast majority of women that you speak to are going to say great things about. this wall street is not run by women, unfortunately if it did, stock were higher f if men would open the eyes and see the things they're doing, they would buy the stock too

on tomorrow's big fed meet clg could go either way, i like

to pull back on something quaun take theive. that's why tonight we're going off the charts she is the brilliant tech nishgs she writes for realmoney.com and runs a website only until the end of the month. right now she is bearish on the market i can understand why so can you but there are few charts she is stalking where she thinks you can get a buying opportunity in the not too distant future this jives very well with the larry williams santa claus rally. keep that in mind. and what she is writing here let's start with the larger picture. check out the weekly chart of the nas nasdaq 100 the 100 largest nonfinancial stocks in the nasdaq it is very tech heavy index. tech is right in the center of the blast. i don't know if you saw the stocks today the salesforces of the world the this is one of the hardest hit groups now the black candle sticks are

where year rawleyou're really l in terms of the chart. the larger up trend bottomed earlier this month we can see that thing coming back there is something else going on here it's a symmetry. you look at past swings and get the security and project the size of current or future swings in the same direction. you'd be surprised how often they're incredibly similar does it make sense that market behave this way? not if you're a stat stigs lots of patterns in the stock market make no sense when you try to analyze them logically. the fact is this symmetry does show up all the time though. now she points out that two of the prior symmetry projections came at the 15,417 to 15,552 area sure enough, they were getting beaten down, they bottomed since then, we have already had a pretty healthy rebound although addition has not been

repeeled we're still nearly 400 points above the level where this thing bot tomd two weeks ago wet have a little room from where we were able to rally from and her view as long as the floor of the support holds, she thinks the nasdaq 100 can resume the long term rally. if it we get back into bull mode, then she wouldn't be surprised if the thing could only take us all the way back to -- all the way up to 17,0500. she measures past swings and then the important ratios discovered by the medieval godfather. another weird pattern that shows up all the time in the stock market she is not going to endorse buying the 500 yet she is in bear mode. she is willing to recommend this index as long as the support holds. first that floor needs to be tested that's why she's waiting for a pullback to the 15,400 to 15,500 area if that holds, she is willing to get more positive.

so we've got -- again, keep in mind, the larry williams bottom and this will be the same time all right. now next up, check out this daily chart of amazon. should have been flying. everyone thought this would be the right time to own it this is another one that she is watching doesn't have it yet f amazon's big decline this month, she sees some hope for the stock. the nasdaq 100 still has not flown a buy signal they had a prior swingdown this may. they fell 426 right here, okay that is very similar to size and decline. and this is in december. you can see 423. one is down 423. one is down 426. that's the symmetry. yet another example of classic symmetry after finding that low, a week and a half ago now you're going back here, amazon quickly tacked on more than $200. it pulled back since then. they kind of gave up some of the charts that we were looking at we redid them number the only was there price support on the

chart, we also notice there is a confluence of timing cycles. and that is these right here the same kind of analysis she uses for price except applied to the x axis of the chart. they come due between december 1st and december 3rd there is often a sign the stock is about to change course. st which is exactly what happened to amazon that's why she considers it a pivotal low. just like the nasdaq 100, she is waiting to are that low to be tested thanks to the recent pullback, we're close to that level. she wants to see amazon do something else before she is willing to go bullish. she is looking for a buy trigger. her favorite buy trigger involves moving average costs. she likes to watch the 30-minute chart that is a chart where each tip represents 30 minutes of trading. then weights for the eight period moving average to cross over the 34 period moving average. that is how she knows the momentum turned positive

until she see that's crossover, she can't give amazon a full endorsement. we're not there yet. but her timing cycle suggests that stock could potentially bottom sometime in the next couple days. possibly it already did earlier today. now once again in, keeping with the santa claus rally. that's why i'm doing this there is some grounding in the charts the action turns positive, we get a buy trigger, she says am zpo amazon can make it to $3900. however, if they close down more than a few points below where it is currently trading, then does it ruin the whole bull thesis. in fact, if amazon pulls back a bit more from the levels, she expects more down side i'm not looking for that just so you know we have a substantial position in amazon. not looking for that decline let's do one more. of take a look at the weekly chart of the usrussel 2,000

this is the support. right below where it is currently trading, the floor is holding. the recent decline is less than three weeks which is the same duration as a couple of prior declines again, symmetry, symmetry, symmetry in it each of the cases, the russell 2,000 goes there and then up and there and out of play up as long as they can hold, she thinks kit go to 253 that is a huge gain. which will be very nice move kind of just like what she thinks could happen to amazon. again, she wants to wait for a buy trigger in the form of a moving average cross over the 30-minute chart. we absolutely aren't there yet plus, if the russell 2,000 support breaks, we're in for serious pain okay that, is not buying it. to me, it goes down. we buy more. we have quality names.

this is different. here is the bottom line. the charts suggest that tech hef nasdaq 100 and even amazon are all approaching make or break moments. if they can hold them above the recent lows this he can resume the long term rallies. if they take more punishment, she thinks it will get worse it's a die nary setup but makes a lot of sense to me i'm less sanguine about most tech and most small cap companies that don't make stuff or do things or lose money they are not where you should be and we are tired of them all right. let's go to ann in indiana ann? >> caller: jim so grateful to speak with you. with all that's going on right now. >> thank you thank you. what's going on? >> caller: so help network speaking of violating my basis wondering if if and when i should do that >> look, i think palo alto network is swell i really believe when i deal

with the ceo, i get the sense that he really has the ultimate model both on prem and the cloud. he's doing better than the cloud companies. that needs to be noticed i think if you buy some right here, right here, i think you'll be okay. i really believe that. down 22 points the best in show okay thank you for those nice comments right now, the charts suggest that the nasdaq 100, the russell 2,000 and amazon are approaching make or break moments. now remember, i'm not into the companies that are losing money. however, amazon's doing anything but losing money "mad money" is back right after this we have got -- wow, my exclusive with baush help hj could the company behind your favorite eye care be something worth eyeing to the breakup? it's six times earnings. i'm sure i'm going to learn from the visionary ceo. he's a visionary we'll have the calls and lightning round. so stay with cramer.

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the high flying tech stocks led us lower it is getting ugly out there you have to keep pivoting to the more tangible stocks i keep saying you to, companies that make real stocks and trade real earnings. that brings me to bousch health companies:this is unbelievable to me. this may be the lowest stock on a price to earnings ratio in the entire stock market. less than six times earnings more importantly, bausch is broke into three separate businesses in first quarter environment next year. bausch and lome for eye care, and one for pharma and one for medical aesthetics which is top

of the field i'm a big believer that they can unlock value by splitting up in a more bite size enterprises that can focus on what they do best so let's check in with joe pap yashgs the chairman and ceo and frequent guest of "mad money" of bausch health companies. welcome back to "mad money." >> hi, jim great to be with you today so, joe, you got to help me here you got this thing is selling at 27% organic growth you have i pharma business that are unsaleable and bausch is the single best name in eye care any one of these should be a premium multiple you trade six times earnings know you have the floor pt i don't get it >> well, jim, i'm going to go back to your comment in may of 2016 when i joined you talked about the challenges i faced. you clearly said i had too much debt you're absolutely correct.

that was like $30 mrs. plus billion. i worked on reducing the debt. i brought the debt down by $10 billion. there is still something we need to do further. number two, we resolved the legacy legal issues of the company and number three, most importantly, we returned company to organic growth. that's what we think will really unlock the value the good us in is we're on the threshold today and over the next 30 to 60 days unlock the companies. we're really excited about it. >> all right do we really know it's going to be between now and the end of january that we're going to start. i think a lot of people are saying i'll wait until it happens. i think that is a mistake to try to wait. >> yeah. it's a fair comment. you've been around this market a long time. it's always market kbz permitting

but market conditions permitting were really excited. we have done all the technical activities that need to happen for the ipo. we have done all technical activity necessary for the bausch and lomb ipo. you have to wait for the appropriate market conditions. we'll be ared to go. we talked about the ipos we're going to get started in january. market conditions permitting we're excited about what the opportunity is to create a pure play eye health company with bausch and lomb with a significant 27% year to date growth and, of course, we still will have the bausch pharma companies that is a diversified global farm suit. >> caller: -- pharmaceutical company. >> let's go over that.

if you faulk to any dermatologist, the stuff that is in use other than botox is salta stuff. why is that not getting out that it is major anti-cancer and skin saver? and it's known since you owned it >> yeah. >> we're getting the message out as we go through the process we go through a number of discussions with analysts, with the test and with investors. i think all that is happening as we speak now we have great franchises this is one we're really excited about, being able to talk about with investors as we go through an ipo process i'm limited to what i can talk about. but the historic numbers are very strong. some are in the 30%.

they have grown even faster. we're really excited about being able to tell that story and especially what we can do with expansion of geographic groups we're really strong in the u.s we're very strong in asia. but we have a big opportunity in latin america and europe with solta. so very exciting opportunity for us we look forward to telling more about that once again. >> all right one last question. five years, you know i think there is still -- i'm getting at really from you. say you still have to do work. is there any particular part that people have to be concerned about that may have more debt or the agencies basically laid it out and you're going to make it so all three companies will not be hobbled by a bad balance sheet? >> yeah. so to your comment, exactly correct. we got it down by $10 billion. more to do but once again, the proceeds from the ipo of the business, the pro speeds and the ipo from bausch and lomb allow us to pay

down additional debt they'll have a pure play eye health company, a great 168-year legacy of historic innovation. we're going to be able to go out with that and a situation of less than 2.5 turns of leverage. so clearly we think we'll solve those two issues of course, the ipo proceeds that they are down to bausch pharma and the remaining company, we think all those will be able to create, like i said before, three great companies. >> i agree because talking with jeff marks, the senior portfolio manager for my trust this morning when we were prepping for. this i said we have to add this to the bullpen i don't get it when i don't get it, that usually means it's too cheap, i have to buy it joe papa, the chairman and ceo of bausch health he's done everything i asked him to do and far more joe, always great to see you >> great to see you, jim thank you very much. >> everybody is worried about losing money in the market now i'm still worried about making money in the market this is how you make money in the market buy something that everybody

hates that you know has great franchises "mad money" is back after the break. >> coming up, a storm is coming. give us a call cramer's got the answers to all your quesburning questions. the lightning round is next.

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it is time l lightning round. buy, buy, buy, sell, sell, sell, then the lightning round is over

robert in illinois robert >> caller: boo-yah, jim. >> boo-yah >> caller: we know quaupt um is the future of computing, is it too early to get moving in this one? i've been getting whacked. inoq >> that's the problem. everyone wants quantum computer. i went out there looking for them here's the problem there the is no play on quantum computer none including that one there is no play there is just hype you don't want hype. let's go to mike in new york mike >> caller: hi, jim good evening how are you? >> i'm good, how about you, mike >> thank you very much i have one question. robin hood >> the stock is -- look, i can make the same comment. it is so down. how do you not take a shot at it the answer is we don't take shots at things. we're looking for mfundamental regions to own things. bet with them, no the with robin

hood it's not a bet it's an investment chris in florida chris? >> caller: hey, jim. chris from jacksonville, florida. great job you're doing with the cnbc investing club. >> i love the club i'm loving the club. much what's up >> caller: quick question. mcafee bought it before the x date. >> we don't like mcafee. you need to be in norton you're a member of the club. you know that norton life lock when that deal closes it is going right to 30. straight shot. greg in jersey greg >> jim, how you doing? >> i'm having a good time. how about you, greg? >> great doing great. when are your thoughts on western union? >> it's so darn cheap that i have to believe that they do something. i have to, have to, have to. i would not sell this stock at $18. john in nevada john hu, jim. i love the dividend the stock is paying what do you think about royal dutch shell? >> royal dutch is a fraction of

the mental firepower that mike worth brings to chevron. we've been buying chevron for the club for the travel trust. why? much better, much more disciplined than shell much better capital allocation and still good yield that's the twoun buy barbara in texas >> caller: hey, jim. unvesting club member here >> yes >> caller: grateful for what you do for us. >> thank you very much jim, the thing i have -- >> it's a darn good company. i don't know how to get at dress changed. it is so good. oh, my i am -- i am in between. that is a great kbhp great advertising. so much downgraded the other day by major firm to a sell. i think they have a lot of good things going for it. it is caught up in the whole multiple contraction on price to sales. nothing works at don't know what else to say.

paul in texas? paul >> boo-yah, cramer >> caller: boo-yah the stock is drawing more than 30% the last month pt i want to know if you're a buyer now or marathon digital. >> it's a proxy. it just a proxy for the stuff. you want crypto, you buy crypto. that's simple as it s you like crypto own crypto and that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by t.d. ameritrade coming up, is the magic of elon musk less visionary and more rudementry cramer shares his take aways on 2021's "time" person of the year next

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did you watch elon musk win the time person of the yearward. i expected a good show he has a talent for showmanship and there was a decent chance he wouldn't attend the event. it was a dazzling surprise factor we weren't disappointed. he did come. he was mesmerizing not because he brought his son whom he seemed to be calling x ater irving editor in chief interviews musk. he did an excellent job of keeping him on ground where he would be comfortable but could expand upon. the previous interview followed a q&a with the facebook whistle-blower you may have seen her in congress he is not a fan of facebook at

all. he said that according to his calculations, it costs five times more to place an ad that is empathetic than one that is antagonistic in other words, the site inspires anger, not serenity i get where he is coming from. i'm not sure it's facebook's fault that horrible content tends to drive engagement. when i was a beat reporter, the goriest story was the better i'd be compensated in other words, facebook is a mirror it is associated about technology that seemed magic to him. somehow he tied in his favorite franchise the lord of the rings as x climbed all over him grabbing the mike, he said he was a big gandolf fan. i saw only smiles, head nods i guess we were all taken. he spoke about his love of rockets and how happy he was that nonrestaurants can go into space. i have a couple nonastronauts at the table next to mechlt it didn't seem to get truly serious about the whole thing until he

was asked about tesla. fust point he made had to do with the autonomous driving. i think it's a matter of time until we realize that an i driven car is a safer than a human car. machines don't get drunk they don't drive when they're half asleep. look, we lost millions of people to car accidents around the world. this is never part of the discourse around autonomous driving. he wants to change that. eventually we're going to get to a point where they can anticipate things far better than human driven ones now we know that nvidia says that is here already musk is a real he rank lift for this technology. every time there is an autonomous driving accident, it is all over the world. regular accidents get in the papers it's a great one for man kind. musk calls positive about the auto industry. he didn't yet know when tesla's pickup truck would come out. i'm not too worried about the schedule given the terrific track record the interview didn't last that long i got the feel that x had

enough so his dad had too one thing is for certain, there is no one in the room that wasn't charmed by the soft spoken genius who may just be far more of a regular person than the person of the year. i would like to say there is always a bull market somewhere i promise to finorord d itit f u right here as covid delta surges in parts of the country, a new warning tonight about the new variant. i'm shepard smith. this is the news on cnbc bracing for a covid explosion. the new study just out on omicron. >> it's rapidly becoming the more predominant strain. >> the mutation's resistance to vaccines and the severity of infection. >> there is just so much destruction. >> trying to rebuild after friday's devastating tornado outbreak >> people's cars are destroyed, houses are