people need you desperately not because the markets are down. folks are used to going up and down in the market. everyone understands the risk, they just want you to, please, level the playing field. they want a real hot to make a big difference in their lives. so far today we're getting a difference. can it hold on though? liz, we had a mice rally into the -- nice rally into the close yesterday, maybe two days in a row? liz: can it hold? at least for now, charles, thank you. have a good weekend. charles: you too. liz: after a week of major market losses, we have a bounceback. dow set to snap a 6-day losing streak that pretty much chopped 1100 points off the blue chips. and look at the nasdaq. we have it up about 400 points after taking the harshest beat of all the averages this week. the nasdaq is bouncing the highest, but what did federal reserve chair jerome powell said in that npr -- say in that n if

pr interview last might that's helping the markets find their footing now? our floor show traders are here to tell you if wall street has finally found a bottom even as it appears inflation has not yet hit a top. gasoline prices, we'll show you hose too. those too. cryptocurrencys clawing back from the brink after yesterday's chaos. one crypto fund president is here to tell us if the worst is over for the cryptoverse and what yesterday's dive bombing had to do with, you know, that was just a crazy moment yesterday. so we're going to be looking at that with big investor. all right. twitter shares still diving on an update, wall street crowd was basically saying you know what? we're skeptical, they have been from the start about elon musk's bid to buy the social media giant. well, now they're saying, told you so. musk tweeting this morning his $44 billion bid for twitter is now temporarily on hold. venture capitalist pioneer alan

battery patricof -- patricof, he is here in a a fox business exclusive with his legendary insight into musk's circus-like foray into social media and the biggest mistake elon may have made that may prevent him from getting twitter at a lower price. all right, let's get to this fox market alert. the question we just had with charles, can it hold. bull withs crashing out of their trading pens this morning. unlike earlier sessions this week where they were forced to retreat right around time of the day, investors are are still hoofing up wall street as we kick off the final hour of trade for the week. just to let you know, we are off the highs of most of major indices, but we've got nike, amex and salesportion leading the dow right to now -- salesforce. the s&p up about 85 point, nice move of 2%, still off nearly 20% from recent highs. and tech investors who have been down for the count are watching

a bouncing nasdaq ball. the tech-heavy index up 409 points, biggest gain as far as percentages are concerned for the major indices, up about 3.6%. rally goosed by comments made by federal reserve chair jay powell last night during which he he reiterated that half-point interest rate hikes, not the more aggressive three-quarter point hikes, are still likely at the next two federal reserve interest rate setting meetings. but no escape hatch for this week that was. all the indices for this second week of may are now down more than 2. as you see with the nasdaq, it's the biggest here, could be about 3%. and, by the way, the russell stuck in the losing column four weeks in a row. as for the dow transports, her down who of the last three weeks. looks for a loss of the week of about 2.5%. let's get to some of the biggest blue chip losers. apple is on track for its seventh straight week wily drop,

down 6.5% this week alone. by the way, that's the longest losing streak since november 2018. for the gnat dax damage -- nasdaq, airbnb is the big laggard. what is expected to be a very strong summer, you've got airbnb down 10.75% for the week. and twitter, yeah, that's the one sitting at the bottom of the s&p. a lot of losses occurring today due to acquirer elon musk's seesawing deal moves. we are going to have more many just a few minutes with alan patricof. but is the market shakeout oversome are some of the worst performers starting to become more attractive or is the market rocked? phil flynn and scott bauer. scott, can't make it any simpler, did we hit bottom this week? >> you know, liz, i don't want to bum everybody out going into the weekend, but i don't think we have. and i'm not saying we're going

to have the severe volatility to the downside, but we have not hit that market ca capitulation yet. in fact, earlier this week on monday the vix actually signaledded a bit of a calming in the markets as to opposed to that capitulation. option volume in the vix was decidedly bullish on monday. normally we see about a 2 to 1 call versus put ratio. this was inverse on monday which tells me that, you know, that kind of foretold maybe this week of the markets calming down at all. so i don't think we have seen bottom. we won't see bottom until we see a capitulation which means vix probably in the 40 handle, maybe mid 40s or so. that's the point -- liz: okay, we're at 22,931 -- 29.31 right now. so we are nowhere near 40. >> not at all. and it kept hitting there last week, and when the market was selling off, the vix wasn't

going any higher. and to me, that's a sign of complacency. you can look at the vxn which is the volatility of the nasdaq, that did break into the 40s. but until that vix breaks, in my opinion, we have not seen the bottom. liz: vxn now, 37, not quite there. it has come could be as we see this rally -- down as we see this rally continue. in that same interview jay paul said, yeah -- jay powell, he also conceded inflation is so bad he might not be able to engineer a soft landing or dodge a recession. just look at energy prices, the whole session was crazy high, up about 3% for west texas intermediate. and you can start to look at say, for example, arbob gasoline hit an intraday record today of $3.95. so, bill, that rot from inflation for the markets is still very much there, is it not? >> it is. and these are real inflation

problems. we have real shortages of gasoline. we have real shortages of refining capacity. and this is definitely going to be a headwind on this market. and this is with the global demand picture really moving, liz, with one hand tied behind its back, right? china's been shut down. could you imagine how high prices would have beenchina was open all time and how tight supplies would be with all the issues with supply? now they're talking about reopening x if they do, that's going to tighten supplies even more. i don't want scott feeling bad bumming out everybody before the weekend concern. [laughter] i think we have a chance, we have a chance here. we're not there, and scott's probably right because here -- he usually is when it comes to picking these bottoms, but i think we're in the end zone here, you know? we're in the red zone. we only have to to push below that trend line here, and i think it's around 4118 on the s&p, we're knocking on the door.

so i think if we have a strong close, i think the mood will change. maybe not the final, final bottom, but i think we could have a pretty good bear market correction here. liz: well, okay. now i'm thinking cleveland browns, my cleveland browns -- [laughter] oh, fumble on the 5. something like aha happens. [laughter] phil, i know you're buying occidental, up about 7% right now. scott, what are you buying? what do you think is now attractive? i mean, you've got apple at a 2-year low. >> apple absolutely was, and i think yesterday's selloff there was a little bit of a panic selloff. and, you know, has it hit bottom? maybe not. maybe it goes into the mid 130s or so. but long term you're not going to go wrong buying apple. mission to occidental, two other stocks that i'm really keying in on, one is clf, cleveland cliffs. stock probably got way ahead of itself a month or so ago. it has been sold off back down

to its 200-day moving average. they've had big insider buying with over the last few months. earnings, revenue, cash flow all very positive. so that's one. the other one at the top of my list, and it's up nicely today -- that's not why i'm saying this -- is micron. i believe it's the poisedded to hold its value on any further weakness in the sector and has significant upside potential. their earnings and growth estimates for last quarter really great, projections are fantastic. liz: micron right now is up about 6.5% at 72.13. still though you wouldn't be buying it at a peak here, it's down 22% year to date. great to see you both. phil, scott, let's see -- [laughter] i'm still looking at occidental, and there's a reason because it does look really healthy. energy is very expensive right now compared to the rest of the market, but we do exhale look at what's happening -- actually look at what's happening in energy and chips.

nasdaq up 422. we do need to look at fin-tech, it's just gotten trashed this week. particularly in the buy now-pay later holdings. affirm right now is on the move to the upside jumping 29% avenue the firm reported a narrower than expected quarterly loss and a revenue manies beat forecast. -- revenues. this is like a techie layaway company. affirm also raised its full-year with revenue outlook and extended its partnership with shopify which is popping 12% right now. the stock is down, affirm, 77% year to date. but affirm's ceo is going to join us live monday to discuss what's fueling the 2022 guidance even, as we say, in a very tough inflation their environment. don't miss max. the cleaning products company founded by actress jessica alba is up 10.5% right now after a it reaffirmed its full-year revenue forecast, the

honest company's stock is still looking, you know, certainly higher if you hook at it through the lens of -- but broaden that out, 58% year to date. the honest company shares are at $3.25. not too beautiful. all right, peloton pailing to gain after it released online shots of a home rowing machine. put down what you're doing, listen to me and look on your screen. okay, looks like a rowing machine. i'm not exactly sure. that's -- yeah, that's adrienne, we like adrienne, she's awesome. all right. rowing machine. two-day peloton member event a that's where those pictures came out. the fitness company did not release product details and has worked very hard to transform itself from an equipment maker to more of a subscriber model. either way, the stock is up

14.33%. and we were just talking about chinese stocks, they are surging at hour after financial center's deputy mayor -- and when i say financial center, i mean world's biggest manufacturing center, shanghai -- said victory is, victory existence the covid-19 outbreak is getting closer and that shanghai plans to start reopening the city by may 20th. this is the first time authorities have set a timeline for ending a punishing lockdown. alibaba up 7%, baidu up 8.5%, nio up 8.5%. despite a billion dollar break-up fee, tesla's ceo elon musk saying, wait a minute, on his $44 billion bid to take over twitter. charlie breaks it next. we've got the closing bell 48 minutes away. "claman countdown" is coming right back. listen, for once a rally that started in the morning is holding right now. the dow is up 422. ♪ ♪

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liz: as much of the market rallies right now, twitter shares absolutely left by the wayside. right now twitter shares, let's show hem again, down 9.5%, unable at this hour to fully

recover from the early morning shock that came courtesy of the man who would be the twitter king. before day break, tesla ceo elon musk tweeted that his $44 billion bid to take the company private was, quote, temporarily on hold. musk embedded a reuters article in that tweet citing a filing that indicates spam and pick bot accounts make up less than 5% of the site's users. musk has said it's a much bigger problem, but he wants booting bots as a priority from the site. but he wants more clarity on whether that 5% number sorely understatements the real -- understates the real situation. the stockuate cratered until -- stock cratered until musk tweeting again, and wall street questions whether musk is trying to keep -- to move the original $54.20 deal price much lower, what will happensome twitter can't seem to pull off what other names mt. space there from metadisease to to snap.

are doing -- meta to snap are doing. charlie gasparino is here now. >> we're hearing nothing from them. i guess the good and the bad things about twitter is they don't have a public relations department -- liz: either does tesla. >> excuse me, i meant tesla. twitter does, but this is out of their hands. tesla does the not have a public relations department. it's hard to get in touch with musk. his lawyers don't return your calls. the positive is he kind of doesn't show favoritism, he just tweets out the stuff like what he's going to do, and he wall streeted out both things today. so it's hard really to know. i speak to see eos who have banked him, or -- ceos, who have wanged tesla, they think he's negotiating for a lower price. you have to play this out if he walks away. he walks away, he definitely pays a billion collar break-up fee -- dollar break-up fee. i guarantee the tesla stock would go up, because a lot of hair holders would like him to

be more focus -- shareholders would like him to focus on tesla. so he might make some of that up on the tesla shares if he walks away. however, he will probably be i sued by twitter because he's got to come up with a sort of reasonable, like, a reasonable rationale for either questioning their user data or manager to to that effect that made him pull out. he can't say, well, i think there's a lot of bots and i don't have information, so i'm coming out. he has to say here's what i'm -- here's my reasonable ration male that i know the user data is understating the amount of bots and take accounts -- fake accounts on their platform, thus, i'm out or i want a lower bid. so i guess where everybody thinks it's going to come to is that they'll agree to a lower bid somewhere around where it's trading now. i mean, if you think about it, if he came back and said i'll give you 35, would they say no? i mean, is this thing -- liz: we're at 40.80.

>> i know. but suppose he played real hardball and said, you know, this thing's worth pa -- 35. could they say no that? liz: investors might. they might put it up for a vote. >> this is a company that meese not making -- that's not making any money. if it does have a significant user problem with bots which people have suggested that, this is, this could be a $20 stock. so, you know, he's got a lot of cards in this play. the market, obviously, is saying it's a $40 stock based on they think he's going to bid manager like $40. liz: charlie, he declined due diligence. >> i mow, that's why -- listen to me. liz: dumb move. >> that's why he can't, it's hard for him -- liz: very much so. >> -- to back out of this thing and not get sued by twitter. he needs a rational, reasonable basis to say that, you know,

there's a material reason. you know how they have these clauses? they're called material add a verse consequences, mac clauses. it's an investment banking clause where you can back out and kill the deal based on that. that's not what we have here. we have some reuters article that he says might be indicative of high bot user growth. so, you know, he's going to have to come up with something. my guess again and the guess of a lot of smart people that follow him is that this is just a dance, that the number he's going to settle at is something like what we see today in the stock, something like 40 down from, what was it, 48.40? liz: yeah. >> okay. and he'll get -- liz: 54.20 is the bid. >> yeah. it'll be, it'll settle around here. by the way, that's a huge savings to him. liz: we wail do have a comment from the -- we actually do have

a comment from the twitter ceo. i see -- where's my e-mail? he expects the deal to close -- >> there you go. liz: we need to be prepared for all scenarios though. all right. we're watching the stock at this moment -- >> did he say anything else? liz: he said he expects more change, all right? i'm looking at these. they're hitting the tape a fast and furiously. again, here's the headline, he expects the deal to close. he said changes to leadership and the operation -- because, remember, they fired two top executives yesterday or told them to, you know, scram here -- he said that they expect these scenarios regardless of future ownership. everybody should be prepared for those e she mare owes that the company must manage costs because the industry is in a, quote, challenging macro environment. no duh, everybody -- >> you know what's fascinating about that statement? twitter has always -- take meta out, facebook, google, all the fangs, this company's always been many a challenging

environment. it was just paying itself and its people so much money based on, you know, the sort of, i guess, social media relevance of twitter among journalisms mainly, not on paper, not on balance sheet. and that's one of the things this whole elon musk thing uncoveredded. this is a company that, like the emperor -- there are a lot of cliches, emperor has no clothes -- liz: all sizzle, no steak. >> yeah. this is not, like, a great company. and they were paying their chief content officer, you know, the woman that musk went after for getting rid of trump, they were paying her $17 million a year. that's, like, you don't get paid that on money-losing companies unless you're running amc theaters and you have your ceo making 20. i couldn't help myself. liz: couldn't help himself. [laughter] look at warner brothers-discovery, ceo's getting paid -- >> are they losing money?

liz: her not, but they obviously have a lot of debt. >> but are they losing money in it's a difference. liz: charlie, thank you very much. president joe biden committing $10 billion of american rescue plan funds to help local communities keep their streets safe from violent crime. he is expected to speak in the rose garden at any moment. more money for policing. the white house is going to announce that in just a moment with a lot of officers right there. we're going to get the details. for the moment, with 36 minutes left to trade in this crazy week, the dow is holding on gains of 469 points, the s&p up 96, the nasdaq up 453. don't go away. ♪ ♪ (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you,

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liz: breaking news, president joe biden has just kicked off a rosen garden event at this hour after announcing $10 billion in the american rescue fund have been committed now to public safety. this includes at least $6.5

billion in state and local funds to fight violent crime in more than 300 communities across the country. let's get to edward lawrence who joins us with more on the president's busy hour. edward, this looks like the opposite of defunding the police now. >> reporter: exactly. and that's what the president is trying to portray, that he is for funding for the police. in fact, the president's reminding here local are communities that that money from the american rescue plan is there for public safety as well as domestic violence prevention. the american rescue plan was signed on march 11th. now, crime has been rampant across the country, still an issue across the country, but the president is going to highlight this as he's speaking: a program in houston which the american rescue plan provide $52 million to reduce violence and $32 million for mental health and domestic violence services. now, houston is still leading the country as one of the most violent cities in the country in terms of what happens there with crime, the homicides this year

month over month are down in houston but more than they are, were last year at this time. so the police chief, who's standing right there beside him, of detroit says for his community the american rescue plan money will eventually make a difference. listen. >> police departments have have to be innovative. you cannot arrest your way out of crime. there have to be community services, community programming, mental health support and a number of different programs. >> reporter: and the administration throwing a lot of money at these programs hoping that something works. now, the president also later afternoon is going to have a meeting of the asean countries, a summit he's holding here, and that is member countries, countries like highland, vietnam as well as singapore, and the goal is to expand the economic relationship with those smaller southeastern asian countries. listen here. >> when global supply chains are

flowing, more goods are available and prices, of course, come down. southeast asia is the fourth largest market for american goods. and our economic relationship supports more than 600,000 american jobs. >> reporter: and that's the vice president with those world leaders earlier. goal is to try and move supply chains, encourage american companies to look at alternatives to china so we don't have the crunch that we're seeing with these chinese lockdowns and then reopenings. liz? if. liz: law enforcement stocks are jumping. you probably can't see the screen there -- >> reporter: no, i can't. liz: fascinating, anywhere from 6-7% higher right now. edward, thank you very much. not all cryptobillionaires are crying poor. stx ceo sam bankman fried, yes, him, the big billionaire,

announcing a 7.6% stake in online brokerage robinhood which is powering higher by 25%. the news caps a chaotic week for cryptos after a major selloff wiped out more than 200 billion from the entire crypto ecosystem. just in a single day. today a bit of a recovery in progress but how long is this going to last? with the closing bell ringing in 29 minutes, we are talking to a crypto hedge fund leader coming up. stay tuned. dow is up 481, s&p gaining 98. the nasdaq now if up 4%. -- now up 4%. ♪ ♪ and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision.

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♪ >> -- mind, steel their nerves with four simple words that have been whispered since the time of the romans, fortune favors the

brave. liz: well, it looks like fortune doesn't exactly favor the brave after all, at least for the moment after one of cryptocurrency's most volatile weeks since 2018. actor matt damon might have to eat his words from this viral ad for crypto.com. this ad first aired in october of last year, and when it did, bitcoin was at around $60,000. so 1,000 worth of bitcoin invested then worth around -- 481 today. so look at all of these headlines this morning after what happened yesterday. fear and panic dominated the last 24 hours for crypto investors as the conditions went from bad to absolutely appalling. but after more than $200 billion was erased from crypto markets in a single day -- much of it from stable coins -- digital currencies are making a slight bounceback. bitcoin back above $30,000, holding there. etherium back above 2,000. but, you know, we really watch

bitcoin plunging to lows of 25,000 yesterday. so as we continue to watch each of these names, we should mention the tether, the world's largest stable coin, has regained its dollar peg after more than $3 billion worth of tokens were withdrawn following era usd's collapse. how did digital assets, how did hay designed to be stable fuel in a crash, peggedded to the dollar, how did they end up on the press -- precipice of a crypto winter? if let's bring in brian dixon, off the chain is a hedge fund that invests in discounted bitcoin and owns equity positions in undervalued digital at set firms such as cracken. all right, brian, are you saying that a day like yesterday is something you wait for in your business? >> so in our business when the markets react like he was in the last couple days, our investable universe actually expands. so it's good time for us to find

discounted valuable assets. liz: okay. so when we have a banner that says winter is coming, you're looking at it as springtime. >> yeah. this is exactly the time that strives with our strategy with off the chain, because when the markets go into down trend like this, we find more sellers that are forced or motivated willing to take discounts on the assets, and that actually allows us to garner these assets in a time like this so we can harvest in the future. liz: when you saw what happened yesterday, explain to our viewers how you looked ate it, particularly through the lens of stable coins which are supposed to be pegged to the u.s. dollar and suddenly not only did they go below a dollar, this was a run on the bank, a mass liquidation. and even with, say, for example, luna, which is one of the stable coins for terra, we looked at that, and that went to a penny or so, 60 billion, i think that was the number, was knock off the system here?

do you like at that as it shakes out the people who were never committed in the first place? >> so it's definitely a purge. what initially triggered this is when the fed adjusted rates, it had impacts on most sectors including digital coins, warren buffett used to say that when the tide goes out, you see who is swimming naked. and this is exactly what happened. if you were swimming naked in crypto -- stable coyne. like you noted, it was a $60 billion failure from its peak. it was a run on the bank, and it really became a death spiral. since crypto trades 4 the hours a day -- 24 hours a day all that stress cleared out in about 24 hours. so the failure of luna was purged out of the system, and now everything's coming back. and this is really one of the benefits of a truly liquid market, it allows the failures to paid out naturally. liz: well, healthy, but it

appears kind of dangerous. let me push you on this. some investors have lost their life savings in the blink of yesterday's eye. a youtube star reported -- i think it's a he -- $2.8 million after luna's crash. how do you advise your clients, your investors who say, wait a minute, what am i supposed to deal -- how am i supposed to deal and absorb what happened yesterday? >> well, the first hinge i would tell them is i would never a vise to listen to people pumpino people pumping crypto on youtube. what we do at off the chain, we're seeking value. we're value managers in the space, so we're trying to find unique ways where you can find undervalued assets. when you cough down trends in the market -- do you have down trends in the market, you have to be careful. it's growing quickly, and there's a lot of value in the networks, but there's also a lot

of scams out there. so you really have to be careful when you're evaluating these different crypto assets because they're still going through this period of evolution. liz: well, at 29, 30,000, do you think bitcoin is a deal here? >> yeah. actually, during the selloff we took a look at the fundamentals of the bitcoin network, and it is still very strong. the total cash rate of the mining network continues to grow. the number of bitcoin wallets continues to grow. the utility of the network itself continues to expand, and the number of institution, that are entering the space is growing as well. so when we look at the value of the network, the bitcoin models that we use today show that bitcoin should be around 48,000 up to 180,000. and so when we see -- 30,000 today, it's a good value, and it's something that people should be studying. liz: brian, you're scooping up distressed assets just like buffett would at a time like this. a lot of people don't understand the assets at the moment, but as you say, it's early in this, of

course, stage of this new, expanding world. brian, thank you very much. >> thanks, liz. take care. liz: you too. the semiconductor shortage, ooh, that's far from over, but our next guest says the clean room filled with wafers and chips could give your portfolio a charge. closing bell, we're about 17 minutes away. it's the dow that's now up 455, that's still a lesser percentage gain, 1.5%, than the nasdaq which is up 3.7. again, can we hold, is the question. we'll be watching it for every moment so don't go away. ♪ pleasure. ♪ ♪

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liz: the new ceo of arm, which is the largest semiconductor

architecture maker, told "the claman countdown" yesterday just how long the shortage will last, at least what he thinks. >> these complex chips, they have packaging, they have substrates, there are lead times around that. and again, when you just get into the lo jims across the globe, it's quite unpredictable. i think it's going to be bumpy for a while. as far as the shortage lasting a year or two. liz: okay. let miss find out what our countdown closer thinks. he's taking what rene said and running with it. he's bullish on the semiconductor i have right now. a visor cio tim courtney. tim, i was looking at the semiconductor index, the socks have really gotten hammered, and it's down a considerable amount over just the start of the year. do you think that now these names look incredibly juicy at this point? >> yeah, we do, you know? if they have been down, they've

followed a lot of the other tech maims down as interest rates have risen. we think perhaps a lot of the interest rate increases, most of them, have occurred. and i think what you see as interest rates are falling, you see a little strength like in days like today. so they're trading at very attractive pes, many of them at or below that of the market, and there's demand. the demand is only going to increase. you're seeing that, you know, across 5g expect internet of things -- and the internet of things, and more companies are starting to bring the manufacturing in house. and so a lot of especially the capital equipment merricks, i think -- makers, i think have a lot of growth ahead of them as they're selling equipment to companies that are becoming more vertically integrated to try and avoid these risks from the supply chain shutdowns. liz: are you talking about applied materials? tell me which part of that

subsector in the chip world you really peel is an opportunity here. -- feel is an opportunity here. >> yeah. those names, asml are, applied materials, lam research are. we like those names a as they are selling not only to the makers, but also other tech companies that are starting to make that equipment internally to bring that supply chain in house. lynn -- liz: okay. let me broaden the perspective of what's going on in technology right now. obviously, the nasdaq has been taking an outsized hit on sell isoff days. today it's jumping in an outsized way. do you feel we're at the bottomsome we're asking all of our contributors and guests this because at point it has been so difficult to anticipate, and each time we see a rally, x today because right now we're still is up about 401 points for the nasdaq, it fritters away by the end of the session. >> right, right. yeah, the intraday moves are, have been really unbelievable over the last couple of weeks.

we cohappen to think that it's -- we do happen to think it's likely we're closer to a bottom than not. we think that ooh -- what's causing this market volatility the has been interest rates and inflation which we do the think we've probably seen the worst of that. we don't think that the market is really relaying worry and concerns about recession just quite yet. and we're seeing that in high-yield bonds and also the value stocks which are holding in there and doing, actually, a bit better than the growth. you wouldn't expect to see that happen if we were, if the market was really concerned about recession. so because we think this is more about interest rates and inflation, we think we're probably most of the way there as rates are start to -- you know, maybe stop rising as quickly and inflation will top out and start to decline. still remain elevated but start to decline. liz: and if we're still in a digital world, which i believe from now on we are with all the

electronics we deal with, chips are that fuel for the big fire. good to see you, tim. thank you very much. >> thank you. liz: will twitter's bot problem deter elon musk from going ahead with his purchase of the social media platform? what's really in the mind of someone like elon who likes to look at companies, buy them, invest, create? venture capital pioneer alan patricof is here next to answer that question. he is the pioneer in the space. it's a fox business exclusive of.. don't go away. speak of pioneering and big ideas, college dropout becomes the youngest ceo of a publicly-traded company. how does alex rodriguez are, how did he do that? he explains to us how he started his autonomous trucking company, very young guy. embark technology, is what it's called. he did it in his garage and became a hundred millionaire at just 26 years old. he explains it all on my everyone talks to liz podcast.

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liz: the closing bell four minutes away. the dow look at 7 straight weeks of losses. we are looking at the longest losing streak in 21 years. twitter. let's check it again. it's down 9.%. unable to shake the losses avalon * tweeted that his acquisition of the company is on hold. one of the first venture capitalists who started his

investment fund in 1969. he details his history of wildly investing. if you could read elon musk's mind, is he serious about buying twitter? or do you think he offered too much? >> it's impossible to know what's in his mind. he's inviting scrutiny by the fec. -- sec. you can't go out in a public environment and say you are going to buy something today and not buy it the next dane putting something on hold. a lot of people are going to incur losses because of comments he makes. and i think he needs a better p.r. firm. he probably has none.

he needs someone controlling his message that's consistent and recognizes there are a lot of regulations on what he can and can't say. it makes me very nervous. investors at this point, i don't know what is going to happen next. liz: no he does not have a p.r. department. he waived due diligence when he agreed to buy twitter. is that going to be the undoing of any price cut he hopes to get on this deal? >> i haven't seen any agreement he made. they were happy with the numbers. now what is it now, close to $40? liz: $40.72. >> a lot of trades in between. he has done this before. at the same time tesla is

experiencing its own problems because of the pressures to put an f stop. elon is a brilliant person who started a number of successful companies, but he's not a consistent player. liz: in 1969 you were among the first venture capital funds. the sell-off we have seen today, will that scare off a lot of venture capitalists or put a chill on startups? >> there are exciting newspaper new companies out there and companies out there. i don't see -- just like i get -- iget asked the question be e

tax rates change what will happen. i don't know anybody who said i will stop investing because the tax rate went up. or any entrepreneur saying i'm not going to start my company because the tax rate went up. liz: alan patricof, he was one of the original investors in apple and more. larry: welcome to "kudlow." i'm larry kudlow. tonight we need to talk about crypto currency. sometimes called alt-currency. investors are losing money. people are suddenly afraid. the currency is traded outside the banking system and their prices can fluctuate quite a