party, looks like ukraine or vietnam is the place to go. dierdre: noted. thank you so much, ashley. i checked, just for you, which country's citizens spend more on beer between the u.s. an the u.k. pretty close. the u.k., ashley is the biggest spender. >> big shocker. dierdre: now that you're living here which confuses me. we've got to go. melissa francis is here. "money" starts now. melissa: absolutely. keeping our eyes firmly on the selloff, fears overseas hit the markets here, dow 17,000. look at that, apple investors losing patience on new tv, phone delays, not to mention the very awkward layoff over at beats. gopro leap of faith. tech darling of wall street set to release results. can it live up to all the hype? so you got a parking ticket. angry drivers fighting them tooth and nail with the simple tap of your smartphone. even when they say it's not it

is always about money. melissa: start with a look at the markets. the dow in a free fall, down more than 200 points on the day, look at that, 223. looks like we're sitting at the low of the session. all three major industries april, nasdaq even more than that. we have very own charlie gasparino and "wall street journal" spencer ante. what do you think of the selloff. >> much overdue. we need a break. we need a correction. i'm still, if you're asking me, i don't give people investing advice, if the fed keeps basically easing on its schedule, taper schedule as it is without raising interest rates, not a lot of placeses to put your money. has to be in stocks. melissa: spencer? >> the stock market is going up on upper trajectory.

it was due for minor correction. there was more major correction in the spring. is this longer term play? hard to determine. melissa: we had tendency to ignore bad news. what changed? >> israeli-palestinian issue is getting worse. could threaten global oil supplies if it gets worse. melissa: greg, what do you think? >> i think it goes further down, maybe not right away, if you look, we talked about this on the show before. there is no jobs recovery. without a jobs recovery, you can't have housing recovery. if you look leading the market down, global issues are there, housing stocks, for example there, is no recovery going on there. that is because there is no job recovery. >> there is a political story we should talk about. the obama, the stock market can in the rely on the obama economy. i don't care what anybody says. melissa: it is about the fed. >> it is all about it. every time president obama takes credit for this market he is crazy. zero to do with him. this economy just does not give

confidence to traders. melissa: meanwhile we're watching this. apple also feeling a sting today, product delays, smartphone slowdown, threaten to upset the applecart. this stock is getting hammered. no apple tv set this year is what has leaked out. ceo of best buy saying penetration has gone as far and fast as it can in terms of tablets. sales are crashing. a lot of bad news for the company? >> idc, major tech firm, came out with smartphone numbers for recent quarter and it showed the chinese companies huawei, lenovo are grow faster than anybody in the market and getting trouble to apple and samsung. samsung's mobile ceo on the hot seat. apple coming out with new phones. that is one reason apple is not selling more than they think they should. chinese guys hitting them on lowened and that is the crunch. that is the key. price point. growth in emerging markets is

300-dollar price point and lower. that is not where apple chosen to play in the market. melissa: i want to move on to story you will love. bill ackman starting to regret his ill-fated attack on herbalife, calling his own presentation a quote, pr failure. sometimes i'm my own worst enemy. >> we all are. he is not only one. i will say this about bill. bill is a very good investor. this showed his weak underbelly. he gets emotionally attached to these stocks. i think, listen, he might be right about this company not being a great company, but going so far out on a limb to say it's a fraud, he put himself in bad position. now he is paying for it emotionally. you never get emotional. ace greenberg, recently passed away, great investor, will always tell you, this isn't emotion. how do you win, how do you lose. minimize losses because you make gains down the road. melissa: greg, if it is pr failure, it is pr victory to go out back into the media to say i just had a pr failure, i'm my

own worst enemy or do you be quiet and go to the sidelines for a while? >> especially on earnings and herbalife missed earnings and stock in free fall, but it is not recovering. he could have just said nothing. >> right. >> all the way around, today would be a great day for bill. >> underscores, just, the problem with bill ackman. this may not be a great company. we've all -- melissa: they have a lot of problems. >> despite lebron's decision, came out with big hullabaloo, he overpromised and underdeliverred and now with the mea culpa. >> what is says about bill, he is wait out there. >> three-hour presentation. melissa: goes all-in. that is way you play it. >> that is not how you play it with the investor. this might be a crappy company. melissa: gopro looking camera ready trading in the green ahead of its first earnings report as public company. look at that, battling back in what is a terrible market right

now. one of the only stocks out there winning, up about 100%. >> camera, small camera company. melissa: small camera company, and a lot of people raising flags warning folks, among them jpmorgan, saying that they're facing declining camcorder market, lack of available products. competition on the horizon. increasingly encourage people to go out there to take huge risks to jump off things with this camera on. if somebody really gets hurt there will be backlash against this product. at the same time watching stock soar. where do you come down. >> zero percent interest rates, the market is selling off you have to put your money. melissa: this is spencer ante in the video by the way. [laughing] >> janet yellen talking about these tech stocks being overvalued, she was right but she is the reason why. melissa: that's true. spencer what do you think. >> great product. promising company. kids love it because of extreme sports connection. melissa: right. >> trading 65 price-to-earnings ratio. you remember flip cam?

melissa: i loved it. i had it. i still have one. my kids love to play with them. >> smartphones got better and disrupted it. let me finish my point. melissa: he is right. >> wearable computers coming on in different form factors and new technologies could disrupt gopro like flip cam. >> one of the good things not being tech-savvy like myself, these products come and go you don't even notice it. they're gone. melissa: on that note, tech -- bnb offering services during natural disasters. this is smart. cities everywhere trying to get rid of airbnb. what do they do? make themselves integral in emergencies. we'll find people to play. is this genius right, ceo genius. >> absolutely genius. shows power i think of combination and business and social media. what you can do with it. there are a lot of great things you can do with it. there are few companies taking

advantage of it. gopro is another one taking advantage social media. >> someone who lived in new york city, most of my life, new york city, westchester, county, you name it, there are rent regulations. i don't understand how this company survives in new york. melissa: by cozying up to the government and working out a deal where they can continue to exist. >> cozying up to the federal government. they have to cozy up to the state government. melissa: this is san francisco talking with doing it. they want to work with the government in portland, oregon genius. >> uber is challenging taxi regulations. >> a little different. >> not saying same thing. they will challenge government regulations because they will work out a way people will love this thing. >> rent control, new york city has survived decades. melissa: really entrenched. this is one of my favorite stories of the day. resorting to drastic measures to get college kid in the door, busing students in from college campuses calling it a shopping party.

put all the kids on buses. they send them to the store. they're having lip sync contests on board but cleverly giving away free food. you offer college kids free food you can could probably drag them anywhere. >> free beer would work. free beer always works. free food doesn't work. melissa: worried about liability. >> forces to retweet it? >> for free food to a college student could get them to retweet anything. >> lundgren is one of the best ceos in the space. think how anachronistic a department store is with millenials. how they grow up shopping and online. i think is very smart thing. if you do it well, i've been in other industries where we bused people in events. you control the message from moment they get on the bus. control the entire brand experience. it is very sharp. melissa: is it sharp? does it show how desperate they are? as former ceo of hostess a major

company, desperate or really smart. >> brick-and-mortar is desperate in some sense. they are trying to build the bridge and stay in thes space. macy's done exceptional job with department store space. not all with other players in the space. melissa: thank you very much. coming up the droid you're looking for. they might have taken over your job. plus all eyes on tesla. the automaker set to report "after the bell." will "iron man" make wall street swoon? more "money" coming up. ♪

melissa: markets are deep in selloff mode right now. let's go straight to nicole petallides on floor of new york stock exchange with more on this one. nicole what is the chatter down there? into a few things people are focused on the argentine debt. that is certainly one. second time we've seen argentina default in 13 years. that becomes worrisome. despite the fact we heard yesterday and today there were possible fixes and last minute negotiations that didn't really help the market. geopolitical concerns. israel, gaza, you had a guest talked about oil. that could be something as well, russia. we do have all the things sort

of looming. then you have tomorrow, the monly jobs report. concerns about a housing recovery that may or may not really be in full force. so just uncertainty and run-up that we've seen gives an opportunity to pull back. there are people who really look for opportunities to sell. some of the losers. energy has been under pressure, ex-ings exxon and verizon. vix is jumping today, volatility and fear gauge. back to you. melissa: nicole thank you. tesla down a few hours before quarterly release, the electric car company confirming a partnership with panasonic. a new planned model 3 car targeting mass market. how will this change the company and investors? >> we have jared levy from profitable trading.com. and simon constable back with us. scott, what is your biggest question going into earnings and the call today? >> well it is really the gigafactory and how utilized it

will be once it is up and running. that could be a real game-changer i think for tesla. melissa: what do you mean how utilized it will be? >> well the whole point of when the patents were released a couple of months ago was to get more people to need and want to use these lithium-ion battery packses. less la right now is switching over to the -- tesla is switching over to the model x, which is crossover model s, nobody expects huge sale numbers. the real sales numbers are going to come in 2017 when this model 3 arrives. melissa: jared, what are you listening for? >> it is not not about what is happening now. it is quantifying what the gigafactory will be about. by the way there could be interesting angle. as they spin lithium-ion batteries into home power storage and make making our grids more efficient. i want to hear some talk on that specifically, when, where, how the factory will be produced an

that are participation. i like tesla. this is not the actual numbers and about the vision and keeping that vision and excitement up. morgan stanley has good notes. i would agree with them on tesla. i would be owner for long term here. melissa: simon, you talk about vision, how do they make their way into the mass market, not just high-end what we're talking about. what do you think the odds are there and listen to on the front. >> i think odds are low. unless they get battery faster charging. a faster charging battery would be useful. fill up gas tank, half a minute and done. how long the battery lasts will be important factor. third thing is, can they survive without government subsidies? melissa: jared, what do you think about that? >> well, okay the charging thing, first of all, i was a big, there is lot of contention nobody will sit there to charge their car for eight hours or hour. now down to half an hour. reality we're socially adapting to do this. a lot of people i know bought teslas changed their lifestyle. melissa: how many people do you

know bought teslas. >> i have 30 friend that own teslas. i've driven them. i was going to buy them. melissa: really. >> dallas they're popular. there is centralization of populations. melissa: in dallas, you're in dallas and people are buying electric cars in first of all gigantic place. you have to be able to go far. second of all, this is the oil and gas capital of the world! you have 30 friend? >> i got at love friend with bicycles. melissa: right. thanks, guys, good stuff. internet uses its powers for good. how one man paid off his parents mortgage with a little help from youtube. while the government was shutting down, couples in washington were getting down to business. a baby boom, courtesy of capitol hill. more "money" on the way. i bought a car, over and tells you, and you're like. a good deal or not.

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see car insurance in a whole new light. liberty mutual insurance. melissa: let's get a look at markets right now. you see the selloff continues. we're down 1 1/3%. 225 points on the dow. zap trading lower by almost 1 1/2%. on percentage basis. melissa: nasdaq is getting hit the hardest. it is down 1 and 2/3%. telecom getting hammered. really everything. the standout is health care as well. trading lower on the day. we told you how the deadly ebola virus could be a plane ride from the u.s. it turns out it almost was. one man who died of the virus flying from liberia to nigeria, had plans to travel to the united states in the next few weeks. quarantine officers placed at 20

international airports across the country. should we be worried about all of this? fox news medical a-team's dr. manny is with us now. this is the fear, one plane ride away. plans to come here in august. >> look, out of nigeria you have thousands of flights every year that go either to europe or to the u.s. you know, and the problem is, that you know, theoretically it could happen. incubation period of ebola is two days to 21 days. so you could argue that, you know, you may have ebola virus in you, it is incubating. get on a flight, come to america, then of course within three or days develop full symptoms. melissa: yeah. >> so right now they're taking precations in air -- precautions in airports. looking at people an signs and symptoms of flu-like illness. melissa: level 2 alert for travelers. jfk a alert is out. quarantine officers, standing by looking for symptoms of the

disease. >> look this is something we've been saying all along when the story broke. this is epidemic out of control. it was anecdotal group of cases here and there. now you have thousands of people infected and there is no control. liberia shut the borders. health workers are leaving. they don't want to work there anymore. top scientists in the area have ebola disease. they're perhaps flown to america or germany. melissa: let me ask you about that. the e.u. is saying on high alert. germany agreed to accept ebola patients. welcoming in the u.s. as well? >> these are top scientists. three scientists in particular, two americans an one from i think liberia who are, basically people thatve been working on the research and controlling this. now they're affected. they are getting treatment in that area but it is not working because ebola is very dangerous virus. now they're, sort of like a humanitarian effort to save the lives of these scientists.

they might be flown to germany or here to the u.s. for experimental treatment. melissa: should people in the u.s. or germany be worried about that, fearful? >> the transmission of these people will be almost like a military operation, a special plane, special hospitals, special equipment. you know this is, this is a level four what they call a level four infectious agent. so therefore, it is maximum security to the end. so it is going to be, just that. you know, but it has to be done. >> do you think u.s. would accept them and do this. >> i think so. they have to. i mean they have to. absolutely. they have to. the question is, the other side, we're talking to a scientist this afternoon this afternoon developing vaccines for ebola. i want to see how far and quick we'll see a vaccine. melissa: i want to turn to happier note before we let you go. first comes love, then comes marriage, then comes the baby thanks to the government furlough? nine months after the 16-day

shutdown, hospitals in d.c. seen 33% up tick in bundles of joy. >> i'm up, 33% this year in numbers of babies registering at hackensack university medical center. every time i deliver one -- melissa: they want to continue to be productive of? they're not at work but want to be product they have. >> anybody with time off, they think of couple things, including you know what. melissa: dr. manny. thank you so much. call to hike the minimum wage getting louder but at what cost? plus, got a parking ticket. there's an app for that. the new fix that will fight your parking tickets for you. "piles of money" coming up. ♪

when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.

our nation's youth as we gear up for the jobs report tomorrow, teenage unemployment levels, to make employment levels near record low. at the malibu oil is there bar in vero beach, what is going on? >> they're monitoring, in the pools having fun and nothing more but i got to tell you hiring fifteens, 16 to 19-year-old is down, and a couple things like health care, and cutting back servers hours in a 20 year old side, that means a lot of teams getting work but you are a teenager you could be a lifeguard, and -- then you can beat something like. o'malley, he has been on your

show a few times, you have thousands of applications -- >> there was not that many jobs, struggling to get work and reapply and call, and get as many jobs as we could. >> would you have melissa frances apply for job? >> deegan that what we have to pay. >> i am great, thank you so much, is it the same for everyone, have you found yourself as an employer is good for you. >> is great for us but the problem is you feel bad for the kids. once always the kid job, a lifeguard or busboy in a restaurant or bartender or whatever, now a bunch of older people have to remain in the work force. it is said for the kids, they try to make money for school.

melissa: you hear about the wage debate all across the country, if you want to pay more, would you raise prices or higher people were taken out of your pocket? >> we do a little bit of each. you wouldn't have any customers, and if you take it out of your profits you would not be in business. i hope it doesn't go up too much. >> the actually has an cellphone policy for all the teenagers at work here and if you see them on their phone no more jobs for them. >> attention for the customers. melissa: record lows, stops and workers continuing to fight for a minimum wage. let's bring in jamie richardson, a genie raborn back with us as well. is an isolated with some uneasiness trying to find jobs without a lot of jobs or is that what you see your business? >> not isolated at all.

we see across the country in our neighborhood these teens are unemployed and we will have a lost generation of kids that never get a chance to have the first shot at learn skills to take with the arrest of their life. it is real and happening and raising the minimum wage will exacerbate that dramatically. >>. hit an important point which is something we have talked about on this show before and i will be surprised if you don't see it, the age level of people working in jobs that were two with three decades ago, teenager jobs, not intend to the careers and the pressure i think on the minimum wage comes from the fact you have people working in fast-food that are trying to support a family. melissa: when you look at a 62% of the people who are earning minimum wage us students. they are enrolled somewhere else and we are seeing in real-life examples going on here is older people crowding in on the job force trying to support a family so the answer isn't necessarily to raise the wage because obviously when you are making

$7.25, you are not supporting -- is not a job, you have to retrain people for other jobs. how do you do that? >> the focus is on providing more employment for more people an average workers making 35% above minimum wage the difficulty is with every policy you are trying to understand as implemented from inside the beltway and raises your costs. it is difficult to keep the employment levels. melissa: you are white castle guy. heavy seen it change in the age profile of people who work for you? >> more people i seeking a second job so there's more competition for the part-time because of the health-care law which mandates full time as 30 hours, not 40 hours as it has always been. melissa: is that what we're seeing in the broader economy? >> you hear it consistently, i talk to five or six small-business owners and founders and ceos over the past week to week and without fail they tell me obamacare costs are strangling my ability to grow. i am trying to work through that

but they also say if minimum wage its mandated up federally, i will let people go. i won't have a choice but to let some people go. melissa: thanks to both of you guys. it was only a matter of time before machines to cover. according to a new survey by career builder, one in 5 companies replaced employes with technology, was supposed to excuse you. this is for you guys. this is the flip side of it. you see automation coming in, and $15 an hour, you are likely to replace someone with automation? are you looking into that? >> always. earnings of -- $150 in profit compared to an average of $10,000, always looking at ways of managing costs and provide hospitality and service the there has to be a bland. melissa: and make the argument that while they are eliminating jobs on 60% of them say the new technology resulted in new positions down the line. do you believe that? is it the same number? when you put a robot on the

line, and to fix the robot? >> i don't buy that. you hit the nail on the head because it is creating different types of jobs, it highlights the education gap and training that we face. because most of the productivity gains over the last decade are technology based productivity gains so when people say we are on shoring, that doesn't lead to jobs. we manage that kind of business, and it is a different training. dierdre: the person you fired was up front and replaced by the robot doesn't have the skills to fix the robot on the other end, a totally different person so those people are out of luck at the front. that is what the problem is with the economy. every parent's dream after all the blood, sweat and tears that going to raising a kid when the child can finally pay you back,

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melissa: i am melissa frances with your fox business brief. t mobile u.s. shares soaring after reports of a buyout offer from french telecom term iliad. details still unclear but it is thought that iliad is aiming for control of the company and made an offer to the t mobile u.s. board around a week ago. target shares dropping after announcing a pepsico executive as its new ceo. brian cornwall steps into the role vacated by his predecessor three months ago. it is the first time target is being led by an outsider and walgreen seems to be getting into the car rental business. reports say it is teaming up with hearst and that recent trial at 60 locations has so far been successful. nationwide launch could happen in the very near future. that is the latest from the fox business network giving you the power to prosper. [ male announcer ] what if a small company

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momentum, and it is consolidation. and micro european earnings, the fact the we had to come to terms with a hot number versus a soft bmi number, and earnings have been good, the data was decent and we are growing. melissa: to you see this as an opportunity or do we get out of the way? >> we are dealing with a couple things. remember we have the big jobs report, people are taking chips off the table and also you have the issue, digesting janet yellen's talk and tabor and how that will affect and the bottom line is stick with the quality companies, multiple companies, get away from the big growth stocks and the nasdaq, stick with the. chips but it is a buying opportunity. melissa: thanks to both of you. appreciate your time. imagine your reaction if your kid came home one day and handed

you a check to pay off the mortgage. the situation may go down a little like this. >> here we go. take it out. open it. that is for the house. >> thank you! melissa: that is so sweet cutube's are doing good on a promise he made years ago. he joins me now, what was the promise? how did it get started? >> a long time ago i could tell my parents worked really hard and late hours and i always knew i wanted to do the entertainment think so when i started doing it and getting into that mind set i wanted to make sure they knew i

was doing it for them even though i wasn't getting the degrees they wanted. melissa: they said to you they wanted you to go to college and you said listen, i really believe in myself and want to do this thing and to prove it to you when they are will make enough money to pay off your house. is that right? >> i really had to reassure them that i am doing this, i know is not what you want but it will pay off. i will pay off the house, i will buy you a new house and pay off the house and i made sure to keep my word. melissa: in case other parents of their kids will grow up and pay off their house let's talk how you got this done. you are a youtube personality, what do you do on youtube and how much money she made? other folks do this as a business, you can make a lot of green. >> you can make a lot of green, it is true. i do a popery of things,

everything from skits to music, and the lot of brands and, a little bit of extra money, and -- melissa: make six the gears of the views of the tube? >> yes. melissa: you made some stock investments? you are that savvy, investors in makers to deal which was sold to disney, one of these things, how did you know to do that? >> actually the thing is to the whole evolution of youtube a lot of youtube networks popped up and maker was the first one that hit me up along time ago, the first of its kind and when i re-signed with them, i think it was two or three years ago there were stock options in my contract and i will take the stock options and when disney

acquired maker i got a flow check and that helped push me over the edge. melissa: before you go what did it feel like to give your parents that jack? >> it felt great. the best moment for me was off camera. my mom had to me and said finally i can relax. that hit me in the heart because for years, she always said i never get to relax or take a break, i am so tired and finally i could give her a break. melissa: you are wonderful, what an inspiration. thank you for coming on day. thank you. i like that. we are approaching the last hour of trading. liz claman is here with a scoop of what is coming. liz: last hour of trading will be extraordinarily important. we hope everybody stays with us and what is now. we are falling yes but keep in mind these percentages, not like

we're seeing a 5% hair cut but the dow is down 1.5%. we need to tell you the russell is getting hit the hardest, down about at this moment 2%. this is volatility. it is much higher by 21%. we are bringing in many voices to walk you through the final hour. all the traders are standing by on the floors across the nation. we have them and barry james hill has $5 billion in assets under management, well before today he was saying go into bonds. we also have mark father of the gloom and doom reports speaking with us about the fed's just a couple days ago, he reiterated we would see a 20% correction. we are far from there yet. we have tesla earnings and we are going to keep things up. that stock has been a tear over the past five years. and of course with all the negative news there is good news for trunk club. this is something that sends men clothes and trucks and return them if they don't work, they

were bought by nordstrom. of first on fox business. melissa: a special atm automated banking machine over 20,000 customers with green envelopes containing a $20 bill, some customers were awarded bigger gifts like contributions. did you watch this? heart wrenching that people are crying. they gilane ticket to see her daughter has cancer. i am wondering how did they know where her daughter lives? it makes you cry. >> it is a key huge change from taxpayers giving banks money. giving taxpayers' money is a good one. that would help get a lot of the bad feeling away from them. melissa: you got to watch the video but i have questions how

exactly they put this together. putting the parking ticket in reverse drivers fighting fines to the bitter end and it is all with the help of a sneaky apps called fix. you can't afford to miss this. you can never have too much money. i bought a car, over and tells you, and you're like. a good deal or not. that's what led up to us looking at truecar.com. and with truecar.com, there's no buyer's remorse. save time, save money, and never overpay. visit truecar.com

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for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you in out-of-pocket medical costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. melissa: markets in major sell-off mode, and credit card issues realizing more than most, let's get to nicole petallides on the floor of the stock exchange with more on this. >> it is down 250 points here on the dow jones industrial average but we had ipos and this is one of them. synchrony you can see now at number 0.

ahead and open of $23, a high of $24, a low of 20 to 60. this is g e's credit card unit. they have been trying to spin it off during the financial crisis. it was a bone of contention accompany, they're spinning off the credit card unit that made its muted debut at the stock exchange but just the fact that there were gains in nearly going is a good sign, a large provider of private-label credit cards in the united states. it raised $2.9 billion in the initial public offering so it is the biggest one of the year. in the meantime as we go to the closing bell we had at dow 30, of 30 names on the dow jones industrial average have been losers, all ten sectors watching the vix, it is an interesting day. tomorrow the monthly jobs, t mobile. and t mobile and sprint.

>> times have fun with their change. you got to fight with your right to not be issued a ridiculous parking ticket. now all your problems can be fixed, your parking problems. joining us is co-founder david hagerty. welcome to the show. you take a photo of your ticket, you will take a look at it and see if there are any errors in the ticket itself. you also use google images to look at signs in the area and try to figure out a way to make this ticket not stick. is that right? >> it is as simple as that. as a user when you get a parking ticket you take a photograph of the ticket, submit it to us and check for errors and if we find errors we submit a contest letter on your behalf and hopefully get the ticket be. melissa: what is your batting average right now? >> we are betting 20% to 30% of the ticket but we think we are

going to get higher than that. 50% of the tickets that we see have some issue or error that makes them in valid. we are really pushing to play by the rules and dismiss those tickets. melissa: you are only doing it in san francisco. i imagine if the idea takes off it will be everywhere. what happens if you can't fix it? what does it cost if you are able to get rid of it and what does it cost you can't? >> we want to make it a no-brainer to use our air when so is free to download and free to contest. we only charge you 25% of what the ticket would have paid you or cost you if you win. if you lose their is no charge and if you lose we will pay the ticket, bill your credit card and pay the ticket for you. melissa: there is no risk to the person who sent you the ticket? melissa: there is nothing to lose. it is a no-brainer to submit it. melissa: how are you making money? it doesn't seem like there is much of a profit in there. >> what we do is we look to

automate that process. we build scale and we are winning and continue to increase our win rates, we are collecting 25% of each of those tickets and at adds up. given that there are over $100 million worth of parking tickets issued in san francisco, $700 million issue in new york, there is a lot. melissa: most of them -- as a person who gets three parking tickets a month i cannot wait for you to get to new york and i am right behind you. all success to you, david. thanks for coming on. taking it to extremes, go pro is set to report "after the bell". will investors jump for joy? we will go pro. at an end of the day it is all about money.

in new york state, we're changing the way we do business, with startup ny. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax. which means more growth for your business, and more jobs. it's not just business as usual. see how new york can help your business grow, at startup.ny.gov >> go pro's wild ride.

stock nearly doubled since ipo and set to report first-quarter earnings after the bell. jarrod, are you a believer? >> i'm not. i think they -- first of all, the algorithms i ran don't show a high possibility of a big beat tonight. think about it, melissa, i think the go pro business can be a little like the early iphones. the problem is, you know, you've got a lot of innovation, namely the iphone taking the place of them. cameras are good, but the long-term story i don't think is there to let it show a difference. liz: simon, what did your algorithms tell you about it? >> better than that. i read a story by my colleague. [ laughter ] >> jarrod can do math. >> i know! it's amazing. i love that. the last paragraph says jpmorgan rates the stock overweight, uncertainty regarding eventual market size, growth, competition and execution.

i think that's covered, you know, uncertainty regarding everything that needs to happen. >> show's over, that is all we have for now. hope you're making money today. liz with "countdown to the closing bell" starts right now. liz: good afternoon, everybody. i'm liz claman. what started as end of july jitters turned intoit. >> the stunning jolt for the market. as we enter the final and most important hour of trade, the bears have claws out and slashing. they are firmly in control of the market bus not just on the equity level omany different levels. we're going to run you through it all right now. the vix, the fear gauge or volatility index at highest level since april. still important to note, it is not near the highest levels that it has seen for the past year, that would be in february when the russian separatists entered the