[closing bell ringing] >> that is the from ubs. loving the buy now button and digital advertising. david: look at indices as bells ring on wall street. one of those days that had a nice turn around. looked pretty negative, september, october pull back was in its full swing. we've seen moves to the upside and then it pulls back, this entire market does. today it did not go according to that trend. all the indices are up. not one of the indices broke a full percentage point but the russell 2000 beat up bad yesterday, down over a percentage point, making a move to come back. went halfway there. all indices are booed. on up day. jessica alba is here. "after the bell" starts right now. david: we have a jam-packed show

for you today, including actress and honest company founder jessica alba live here in studio. fox business exclusive, we're heading to menlo park, california, where liz claman is live at greylock partners headquarters. liz, what do you have coming up? >> i'll forgive you for cheating on me. oh, my gosh, jessica alba. she has quite a start up business story, doesn't she? all day today we have for very first time unveiled the curtain how venture-capital works from one of the best, greylock partners. they funded very early on namessed like linkedin, facebook, groupon, airbnb, instagram. you go back as far as 1965. they funded neutral gina soap. i bet jessica find that interesting. these are fascinating names. palo alto networks. we've shown you the process what it takes to get inside the doors and pitch your company to grow that company. in this hour, david, the two very important names that

greylock believes in right now, greylock was early funder of facebook. david z, the partner said we've got to do this. why would you go to the anti-facebook? guess what, next door is a social media company that is very private, not for your friend and family, for your neighbors. what is takeoff. this thing has caught fire. one in five neighborhoods are actually nextdoor neighborhoods. that is absolutely fascinating. we'll talk about that with the founder and david sze is with us. it is uber of food. they will talk about how they were working at lyft which is kind after knock off of youer. they were thinking why couldn't we do this for food? the company is called sprig and we have the founder and partner. they are real believer in he

delivering 700 or under call ray meals in 20 minutes or less. working in san francisco right now, david. imagine in new york. david: bring me back in. eutragena soap. i love that stuff. got a lot coming up. we have eric marshall, hodges fund portfolio manager looking for companies that have not become dependent on artificially low interest rates. yu-dee chang, big trader and normally a big bull and tell us why investors should have cash on hand and maybe even gold as well. yu-dee will tell us why. todd horowitz joining from us the cme. first, todd, it is wednesday, of course the market had a make a rally and the you're a bear and market always rallies when you're on. a lot of bears todd, they are beginning to throw in the towel. wells fargo one of their chief economist, big bear. she finally become a bull. what say you? >> hi, david. i'm like joe dimaggio, going for

the hit streak, i want to be 52 times in a row on air when it is up. overall market we've seen, bearish sentiment dropped to lowest since 1987. bullish sentiment high as it has been since 2007. there are a whole bunch of things flowing around. big news with the alibaba ipo coming out. remember last time we had a huge ipo, happened to be visa in 2008. i'm not saying we'll repeat 2008 but the markets are starting to turnbullish. a lot of greed coming in. people are becoming overleveraged in the market. cab drivers, tell you you have to buy and get in that is the time you have to be careful because we may have seen the top. david: todd, i have to two you asking totally honest at me, at night are you ever awake at night worrying you're missing out on this huge rally? >> no, i am not. as i have said many times in my long-term investing portfolio, i own stocks that i will never sell until i give them to my

children. so, if you're an investor and dealing with money that you can afford to lose, then you don't have to pay the rent, don't have to pay the mortgage, you leave it alone. david: fair enough. yu-dee, i have to have you on. you're normally a bull a very uncompromising bull but september, october, kind of worries you a little bit. i get a sense you feel there is going to be a pullback coming, right? >> i do, dave. let me be clear i'm still a bull over so-called long term. i'm not playing this long term, short term. it could go up or go down type of thing. absolutely correct that the bullish sentiment is at the highest since '87 and bearish is at the lowest and market volatility is so low, september, october, usually it is a bad time frame. i could just sense that danger coming. personally we're actually still long the market but i feel the market might have one more last blowup coming, blowoff move to the upside. david: you know what shocked the

hell out of me when i saw on your recommendations, yu-dee, gld, gold. gold is trading way down. it is well into the 12 handle. i think it is 1250 right now an ounce. you are hedging, i guess what you're doing is hedging your bets against this pull out or pullback by going with gld? >> absolutely. two different reasons. one, gold, you're absolutely right, moved toward the lower end of its trading range, 1240 or so, basically because of the strength of the dollar. i at this this trading range might be worth a shot for trade and hedge against possibly potentially falling market. you're absolutely right. that is the reason i want to buy gold. david: eric, you're also a bull, but you are worried as i am frankly, when you see a lot of companies that become dependent on low interest rates. we know the that the interest rates are artificially low. they're at zero. the fed has been keeping them by some would say outrage just methods. is this a risk for some

companies who become dependent on low interest rates? >> i think more importantly, you know, at the hodges fund we're not in the business of predicting what interest rates are going to do but instead, we're just looking for fundamentally sound companies, that have businesses that can do well in any environment that aren't necessarily dependent on those low interest rates. david: let me answer the question that you didn't answer directly. without putting words in my mouth, in your mouth, let me say what you are, what you're looking for are companies that are not dependent on low interest rates, correct? >> correct. david: okay. >> we to find companies really dependent on their own ingenuity, business decisions with secular growth stories. we're looking for companies able to pass on higher prices and inflationary environment and so forth. and among the small cap and mid-cap companies that we invest in, we're still finding those opportunities. david: okay. we'll put some of the names up. eagle materials, viewpoint financial. dixie group, capstone,

et cetera. those are companies that fit that description. yu-dee, next week we have the fed meeting and there are two words that a lot of analysts are going to be looking for to see whether they remain in the fed's notes. considerable time. that is the phrase that the fed used over time when interest rates go up. past couple of times they said they won't go up for considerable time. do you think we see removal of those two words next week? >> i don't think so. i think the fed basically never changed the timetable, the time frame. but the market has been speculating that those words might be removed. if you look at it, the 10-year bond rate has been at highest level since august, right? david: yeah. >> the market already priced, possibly the fed will be moving up the time frame but personally, i don't believe we'll see that out of the fed. david: todd, i know the economy should be moving much faster. you and i agree on that 100%. is there any sign that the economy is going into recession?

then all bets would be off. >> you know, i see a lot of problems out there, david. i see, you know, i don't see the real growth. we're seeing companies accumulate cash. so their ba lance sheets look good. but i don't see a lot of production. i don't see building and lot of grade jobs being offered. david: not answering the question. no sign of a recession coming right? >> i think there are signs of a recession coming yes, because of lack of growth. david: wow. >> because of lack of liquidity average person can get to. i think there is a lot of problems. only way they can be solved by the fed raising rates. we need to bring average joe back into the market. david: todd horowitz, eric marshall, yu-dee chang, thanks very much for being here, we appreciate it. profits without prosperity. companies make a big deal about their stock buybacks as positive for investors in the markets they may be costing their companies and the economy trillions in the long run. we'll debate that straight ahead

jessica alba, the honest company, raises $70 million and may get ready for ipo. jessica is live here in the stupid quote to talk about the future of the company and -- in the studio to talk about the future of the company. we will talk about the company that might be called facebook for your neighborhood. explain, liz. >> save me the moisturizer, david. we're talking about a selective neighborhood network you can access and need to use your name. if you lost a dog or need a babysitter and or catch the local burglar, there is one way to help you the most, your neighbors. we're talking about founder of nextdoor, along with his champion, david sze backing this fast-growing company. of all the companies you backed and you didn't, which sun with

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so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. david: gt advanced technology is falling after apple's new products unveiling yesterday. nicole petallides is on the floor of the new york stock exchange. nicole. >> oh, my, dave, when i was watching apple yesterday during the day, announcing their

product, one by one the iphone 6, iphone 6 plus the following with the watch, intraday chart of gt advanced tech was really plummeting and reason for that and for this week the stock is down about 25%. today you could see part of that loss is about 14% todownside to. that is because apple is the no going to broadly use the gt advanced technologies sapphire glass. a lot of people were thinking that this extra strong material would be used in a broad-based way on the new products. in fact it appears, they may use it on the watch but, that's all i saw. so with that, you did have goldman sachs today cutting the stock to a neutral from a buy and just talking about the timing, the volume, the concerns that he had about the stock and so we did see another drop today. down 25% this week. that's a big move. back to you. david: nicole petallides, thank you very much. i'm very excited about this next segment.

the honest company which makes nontoxic, eco-friendly baby and home products is now almost valued at one billiondollars. may soon looking to ipo. you may recognize the face behind the company's success, the actress jessica alba, honest company's cofounder. she is joining me as well as brian lee, honest company's cofounder and ceo. and also, our buddy lee hawkins, "wall street journal's" celebrity business reporter who is responsible for bringing the group here, thank you very much. but i do, you can understand why i might want to talk to jessica first? >> of course. david: we'll get to lee. jessica, so good to have you here. >> thank you for having me. david: a lot of new product lines start because person who started because they didn't find they needed in their own lives. that is what happened to you, right? >> right. classic entrepreneur story. looking in the marketplace wanting something to exist and it didn't exist is what was it? >> highly effective, beautifully designed affordable products

that were healthy and non-toxic to clean my home in and around my home and my new baby because i came to this epiphany when i was born, i'm sorry, when i was born, that when my baby was born i need to create a safe and healthy environment. a challenge to find save and healthy products. david: same thing with our wife. that was 22 years ago. but at love products had alcohol and stuff she didn't want to put on our baby. i know don imus is promoting his brand of eco-friendly stuff. there are other products out there but what it about them that didn't fit your particular needs? >> i felt like i was always compromising on efficacy. didn't really work or clean my laundry or clean dish is. david: had non-toxic stuff and didn't work well. >> it didn't work and twice the price or three times the price. and didn't fit mys at the time

tick. and not that i don't like pictures of nature and brown and beige, but i'm a color person. if we fulfill on all the promises why would you need to have something that looks like it was made in someone's backyard. david: but you hadn't done a business model before. >> no. david: so, that's where brian comes in. how did you pick up on this idea. >> you know, it was really, it didn't take a lot of convincing really. she showed me all the resources she had been doing with christopher, another cofounder. i think he is very exciting. i just had a child myself. i understood the pain she was going through. david: a man doesn't understand the pain of the child. you're out on a him here, buddy. -- on a limb. >> so heed indicated myself and realized there is need for this. david: what was the business model that you presented to jessica, having seen? >> she presented the model to me. david: wow. that is tough thing. i tried doing it once and failed. >> i know, i like to consume

especially products like these online. i also love the community aspect to shopping online. and that is where i would shop. that is where i would know what to buy, what, if this is better than that was through mommy blogs and through consumer, you know, youtube videos and thinks like that. so it was like, what if there is a brand that speaks to families from the ground up and starts as foundation addressing things we really care about? you know i want to be able to shop the way that shop from the beginning with this brand. we have a big social media component to our company. we're very transparent with our ingredients. we are in a education company. so at end of the day if you don't buy any products but just want to know what is that ingredient or is that really dangerous or what does that mean, you can go to our blog and find all of that information. david: these are some retailers that carry your goods. go ahead, lee. >> the thing everybody is talking about is this $70 million round of financing you just did. you indicated that you will possibly doing an ipo.

what is the timing for that? what do you have to accomplish also in that time frame before you can do the ipo? sure, we believe the public market is best outlet for the honest company and want to control our destiny for the future. in terms of timing no time something set yet. a lot is beyond our control in terms of market conditions and some other things. what is beyond our control is getting ready. david: market looks hot for ipos. >> it does but we need a lot of infrastructure in place. we're getting forecasting perfected. we're doing a lot of things to get ready for that day. david: ipos you lose a little bit of control. you have such a big part of personality in this company. does that concern you a little bit if you went public you wouldn't have as much control as you do now have? >> i don't know. i feel like if we laid the groundwork and really lay a strong foundation, that is what people want. that is why people love the

company. hopefully no matter if we go ipo or stay private, that won't shake up too much. david: okay. got to leave it at that. i know lee has a lot more questions. >> i will get them in. david: lee, thank you. brian, thank you very much. jessica thank you to so much for being here. >> thanks for having us. david: best of luck with this. i wish we had it 20 years ago when my child -- >> we have household cleaning products for you today. david: grandchildren are probably coming. thank you very much. wall street loves stock buybacks and shareholders and company insiders but a new report say these buybacks suck up corporate profits at expense of the company's future and economy in general of the we talk to the author of this bombshell report coming next. the islamic terrorist group isis is on rampage in syria and iraq and threatening neighboring countries. tonight president obama will tell the american people how he plans to stop them. we'll have a preview of the speech with rich edson coming up. and liz has more from silicon

valley. liz? >> call it community of highly selective facebook. every year hundreds and hundreds of companies come inside of greylock to pitch but only select few get in. one of lucky one, founder of next door, a fast growing social media company expanding one neighborhood at a time. huge success. we'll hear from greylock partners said yes to giving him money to grow the company. but he is also the same guy that said yes to facebook when facebook was growing. david s-ze and nirav tolia. you have to hear their stories. many of my patients still clean their dentures with toothpaste.

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liz: greylock gets thousand, in fact i just got the number. around 4,000 companies begging to get into these hallowed halls just to pitch their companies to the partners every year. but guess what? only 20 get an official chance to come in and pitch to the partners and only half of those will get a yes to the money. i'm with one of the lucky ones. the founder of nextdoor and next to him, famed david sze. yes in 2006 to the fledgling company. you gave blessing years earlier to facebook, david, correct? >> correct. david: what did you -- liz: what did you see in facebook when you got the pitch back then. >> some of the things with nextdoor. the bar we have, great team, grade leadership. great market opportunity solving real problems for users. in case of facebook, connecting

users daily on the things they care about in their personal lives. in the case of next door. allowing neighbors to reconnect in the real world, in a world where we're increasingly separated from each other. putting us back together to help each other locally in trusted way. liz: this is the first time greylock opened its doors to cameras in the process, anyone from nirav or mark zuckerberg comes before you, i heard it's a good sign when the partners after listening start arguing in front of the company founder saying why you should or shouldn't give them money, right? >> we're all operators and entrepreneurs ourselves. so we like to engage with entrepreneurs that want that lively debate, want to get better and do great innings. that is what attracts us. liz: nirav, what is the pitch like? you remember the meeting i'm sure. >> i remember the meeting. there was a lot of arguing going on afterwards and that was a good sign. with greylock it is important to get out exactly waa want to

build as quickly as possible and clearly as possible. in nextdoor's case. we use social networks to connect with friend and business associates. there was no social network for what we believe one of the most important communities of them all, where you live and your neighborhood and neighbors. we felt immediately there was resonance with that idea and greylock partners because they already backed facebook and linkedin and seen how social media can be powerful force bringing people together. liz: it is different, right? you guys are highly selective. there is a tough process to get to be one of these nextdoor neighborhoods. david: right? tell us about that. >> it's a little different than other social media websites. it is not selective. you have to prove that you live in the neighborhood you want to join. we have 42,000 neighborhoods across the country. over one in four using nextdoor. for you to join your neighborhood nextdoor website. you have to prove you live

there. when the neighbors are talking they want to make sure they're talking to their neighbors. that the things they're discussing are private between the neighborhood. liz: so you heard this pitch, david, when, 2000? >> 2011. liz: 2011. this guy is in front of you. this is why i don't do what you do because my first thought would be, can't stand some of my neighbors. forget it. don't want to hear from these people. you saw it differently. what potential did you see? >> i invested, lucky enough to be involved early on in facebook investing there an linkedin the i did learn you have to look at social networks differently. linkedin the business aspect is dominant and trust and engagement there. when i looked at nextdoor i looked at tons of social network pitches and said no to them. nextdoor is the bigger than investments we made to facebook and linkedin. liz: how long did you make the investment after the pitch? >> after his pitch we leaned in

aggressively. we did a bunch of work that other pieces we're describing that make great companies were there, once we're in that we're in sell mode. we're lucky it was a match. >> 15 million then for greylock's investment. what was the investment you gave to facebook? >> 12 1/2 million. liz: more to you? what did that feel like? >> it felt good. it felt good. but we have a long way to go to match success of facebook. liz: how do you make money? how important is that to the partners? do they call you up and say when is the money starting to come in. >> ultimately that is the important thing. we're trying to build successful businesses not just products. nextdoor is great product to us. ultimately it needs to be a is about. just like facebook and linkedin we're first focused building the best product ultimately we think we have business opportunities as well. liz: you said no to a lot of other companies. they talk about the one got away. abc passed on "the cosby show" back in the day and nbc got it.

every network passed on "american idol." fox took it. what do you pass on that you wish you hadn't? >> i have a long list. if you don't have a long list you're not trying hard enough. twitter is one of those. one of the very first companies i looked at in 2000 was baidu. baidu at $14 million valuation. liz: you said yes to facebook and few other big ones. you can sleep at night definitely. david sze. and nirav tolia. my neighborhood is part of a nextdoor neighborhood. forget about ordering pizza, david. what if you could get healthy chef-prepared meal for $10 delivered in 20 minutes flat? david: i take it. liz: now you can. we'll talk to the cofounder of sprig, the uber of food and executive scheck nate keller and simon roth with the big believe

there. david: i'm still talking in millions. i'm so old. they don't talk anything less than billions. that is my problem communicating. see you, liz. tonight president obama will face the nation and outline the administration's strategy to fight isis. we are live from the white house what we may hear from the president. share buybacks sound like a big win for investors and the markets but a new study says they actually may cost us quality jobs and could be helping inflate the markets to these all-time highs. we'll be talking to the author of that report coming next. we want to hear from you. do you think stock buybacks and big dividend payments causing corporations more ham than good? tweet us @fbnatb. you may want to hear the next segment first. ♪.

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cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. david: for years now, zero interest rate investors seek out companies that offer stock buybacks and high dividends. while such moves boost stock value in the short run are they bad for companies in the long run? a new paper suggests that the answer is yes an chickens may come home to roost sooner than later. to discuss the harvard business review piece, profits without prosperity, university of massachusetts lowell economics professor. professor, good to have you on. these numbers really staggered me in your report.

from 2003, i will put up some of the numbers and get your response. from 2003 to 2012 s&p 500 companies used 54% of their earnings, of their profits to buy back their stock in order to raise the stock value. dividend took another 34%. that is not a lot of money left over for investment, is it? >> no, it is not a lot at all. tough remember that in addition there was a lot of, those profits were parked overseas encouraged by u.s. tax law to say abroad. when you add it all up wonder you don't have much investment going on in the u.s. economy. that we're short on good jobs and short on innovation. this has been going on for some time. not just something that happened after the recession. it's a major problem. i've been writing about it for a long time. david: you have been, that's true. i've been reading your stuff for a long time. i'm glad it was all put together in this heart vair business review piece but i've got to say, your data stops around

201012. i think it has been getting worse if you think since then, right? >> no. we have data for 2013 and it is more of the same. not getting any better. it is get getting worse. david: talk about, first of all beyond just spending your profits on it, a lot of companies are borrowing money for the stock buybacks. getting in debt in order to buy more stock and pay out more dividends. is that a problem in of itself. >> maybe, maybe not. the companies, the rich companies, the ones who are really at the top of the charts in terms of buybacks, exxonmobil, microsoft, cisco, ibm, ge, they actually have enough profits that they can spend billions on stock buybacks and still have plenty of cash on hand. of course apple is a major case of that which is doing huge buybacks now. however, every once in a while,

sooner or later, maybe it is later, but sometimes it is sooner, a company hits the wall. hp is a good example of this. hp is among the top 10 in buybacks over the last decade. it did 21 billion in 2010, 2011 combined. 2012, it lost $12.5 billion. now it is laying off 50,000 employees in order to get back on track. and i don't think hp will get back on track. david: by the way, just for the audience, nothing against you personally, professor, but some people say oh, these academics what do they know? not just academics saying this. larry fink of blackrock said the following, it concerns us these stock buybacks in the wake of financial crisis many companies shied away from investing in the future growth of your companies. that is your point precisely, is it not? >> that's the point and, to me is not rocket science. it is just pure lodge kick. -- logic. you have companies which you're

dependent on the future of the economy. anybody who thinks we're not dependent on these large companies for future of the economy doesn't understand the economy. when they don't invest in the future, you're not going to have a prosperous economy. david: finally, this has to be quick, professor. corporate executives are not hurting this process by any means. they're getting their stock options which rise as a result of stock buybacks. some people could say they're sacrificing their own company as future for the sake of their options? >> in the harvard business review article i go through different reasons that are given for doing buybacks. you can read the article. people can read the article. and see how i reject the reasons that are given, but bottom line, the only reason is, that the stock-based pay of top executives. 500 highest paid executives in 2012 averaged about $30 million.

david: right. >> 82% of that was either stock options or from stock awards. david: we've got to leave it at that, professor. we've run out of time. stockholders in general are happy but the question is in long run, if they hold these companies and companies go down because they haven't invested that's a problem for everybody. university of massachusetts lowell economics professor. very important study. thanks for coming on and telling us about it. i appreciate it. >> thanks a lot. thank you. david: if diamond are a girl's best friend this may be the best friend anyone ever had. we'll tell you about a 232-carat diamond recently found. wait until you see this. we're heading back to liz in menlo park, california, talking with a company being called the uber of food, liz. liz: david, you want to know who my best friend would be? anybody who can deliver me an amazing meal in 20 minutes because i don't want to cook. guess what, we've all been there, you come home to a empty fridge with bottle of mustard,

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liz: we're at greylock partners in silicon valley and these are the people who have put their muscle and money behind startups. everything from linkedin to facebook to airbnb. now greylock is betting that food is the next big thing that will be disrupted by technology, like lyft and uber make it simple to find a ride, sprig wants to make it simple to eat well and fast. joining us are the cofounders and chef nate keller and the greylock partner who got the pitch amongst all the partners and said let's go. when these guys pitched to you that they could good quality meals in 20 minutes in big cities? >> it was hard to belief. when you invest this early in company that is only months old. you have to believe in the vision and founders because they haven't proven anything yet. they haven't built it yet. when we first met you hadn't

built it. it was idea. hard to not believe when you find a compelling perp like this. liz: what is it there is traffic? get to jefferson and coanga to sunset boulevard. in many big cities there are so many factors that would prevent 20 minute promise of beautiful meals, just like this just delivered to somebody's doorstep. >> very complex system. i will let the guys talk more about it. there is complicated there. is food production side. the delivery side. it all has to become together perfectly and these guys have done a great job in san fan. liz: you're sitting there at lyft and proverbial lightning bolt hits your head and what does it tell you? >> i was working at lift, which is rocket history after company and i was get home and hungry and tired like any american and didn't want to cook. that thought there was a better

way and we decided to make sprig to make eating simple. liz: what do i get for the app that is sprig. >> our customers in san francisco call it magical. you can open your phone, pick between three different options and tap three buttons and 20 minutes later, hot, healthy meal arrives at your door. liz: hot and healthy in 20 minutes? what happens if 2 doesn't come in 20 minutes. >> the meals dom between 10 and 30 minutes and 20 is average. 30 minutes is delight to our customers. we're faster than any other delivery business on the planet. >> needed great food to lure competitors from grubhub and you hired this guy next to you. meet nate keller. you were the executive chef at google and you left to come to startup and no maim? how gutty was that? >> it wasn't gutsy at all. once they pitched me on the idea it false right in line what i want to do, help the world make

better choices eating. >> talk about some of these that we have here. >> so we have a chicken sandwich with mango and a cabbage slaw. this is farewell to summer salad with roasted vegetables this is grilled shrimp salad with grapefruit and cucumbers. >> simon at what point do you need to see profits as a greylock partner investing in this company. >> we're excited about early, see that users love it. they are passionate about it. customers use it over and over again of the that is the first signal see business you get very encouraged. it is becoming a thing in the city. we think this thing will kind of spread out to other cities. liz: please let us know when you hit new york city and new jersey much. gagan, nate, congratulations. simon what a pleasure. david, this would be so huge in new york city, wouldn't it? david: i think so. they have a lot of competition. they have to prepare for the competition but it sound like a good idea. liz, thank you very much.

president obama tonight will be giving what could be the one of the most important speeches of his entire tv presidency. how the u.s. plans to fight the terrorist group isis. we're going live to the white house to find out what he is likely to say. we vin side sources there. diamonds are forever especially when they are supersized. we'll tell you about a just discovered, massive white diamond that could sell for, we'll tell you precisely how much coming up. ♪ we've never sold a house before. (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know.

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david: tonight, president obama will address the nation outlining his administration strategy for fighting terrorist group isis. our own rich edson joining us with details what we can expect to hear from the president. what do you hear from the grapevine on this, rich? >> david, officials tell us we'll hear of an expanded effort against isis that perhaps will include airstrikes within syria. also the arming moved rat sunni rebel forces. that is something that would need funding. administration saying according to officials they may have enough funding up front but eventually congress may have to step in. with that house majority leader

kevin mccarthy decided to put brakes on cr which is continuing resolution because he is says waiting request from the president to have additional funding to combat isis. >> we stand ready to listen and work with the president to cover this growing threat. given severity of the situation and need for all members to properly evaluate the president's request, the house will postpone consideration of the continuing resolution. >> we also just heard from the treasury department, david, that the administration is is upping its enforcement of financial sanctions to go after isis funding. isis is a very self-sustaining terrorist organization. it controls swaths of territory within syria and iraq. it sells oil on the black market. treasury has been trying to get at the illicit money with sanctions and types much techniques it uses to address that. also secretary of state john kerry is in amman right now meeting with folks there. part of the strategy the president will announce, something he said in the past,

he wants to build a coalition within the region on to help confront isis. one thing the president and white house have been ruling out over past few days, that is combat troops on the ground. there are more than 1000 advisors, support troops on the ground in the area. 150 plus airstrikes within iraq thus far though we expect the president to announce a expansion of that at 9:00. david: those advisors there have bootses so there are boots inside the ground in that region. >> absolutely. david: rich, issue of money, we know for a fact that qatar was involved in giving money to isis. enough people said that to know it is true. is the president going to play hard ball with countries like qatar in the past gave money to isis? >> we're not sure he will call out any particular nations or any particular funding this. in the past he has been telling those in the region to step up

and confront the crisis. whether it is ukraine or isis in the middle east, those regional players need to start taking more responsibility. david: rich edson, thank you very much. i want to alert your attention what is breaking news right down here. law enforcement sent copy of ray rice's video, the one that is showing him cold cocking his fiance at the time and knocking her out, sent it in april. this is significant because roger goodell is on record suggesting that he hadn't seen these tapes. so, it may well be true that he hadn't seen it but law enforcement saying they did send that tape to the nfl. so, we will see how all that shakes out. get your checkbooks ready. exceptional white diamond been discovered in famed south african mine where some of britain's crown jewels came from. we'll tell how much it will cost you to buy it this time. stay tuned. ♪. (trader vo) i search.

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david: just want to give you a little more information about this very interesting development in the ray rice scandal problem. the question of when the nfl knew about this tape. roger goodell was on record saying he didn't know about it when they made their initial decision couple weeks ago, or actually a week ago about ray rice. and yet we are now hearing a law enforcement official sent that video of ray rice, cold cocking his fiance, remember we seen the one dragging him out of the elevator, but the actual original video showing him punching her was sent to the nfl three month ago, three months ago. that does not correspond at all, to what nfl chief roger goodell is saying about when he saw it. it may well be it was knocking around in nfl headquarters and he just didn't see it. we're not sure. let's see how this turns out. all day liz is giving you access to the top startups from the

nation from vc powerhouse firm, greylock partners. you have 10 seconds. anything stand out what you saw? >> the great american dream is alive and well and kicking here in silicon valley. the people here at greylock partners are ready to hear these ideas, david. it has been one of the most inspiring days of my career the we'll come back next year to do same thing all over. david: great stuff. thank you very much, liz. "the willis report" is next. gerri, you're looking at luxury gadgets for your home? gerri: you got i, david. from drink makers to coffee mangers and things you probably didn't know you needed. coming today on the show, president obama is set to outline his strategy to fight isis of the with will the impact be for consumers? that's what we're looking at. with millions of credit cards stolen from target and home depot, is your money safe particularly at the country's financial institutions.