and what was intriguing, shifting consumer buying behaves and this is something that things come in and out, people shop differently and i think the covid thing changes a lot but what i've been shocked about is how many people are going to brick and mortar stores recently but here's the drum roll, we talked about margin compression, phil and i, that's what ceos are worried about? you have to be worried about that as well in your portfolio and stocks going down and significant margin compression and the stock will go down. we're worried about too much regulation and what stuck out to me, evolving stake holder expectations about businesses role in society. that's the way of saying esg. they're not worried about it and i don't know why trillions aren't being poured into esg. worry about the top nine before you worry about that. over to my friend, liz. liz: professor, i'm not writing that fast. it's too hard. that's one heck of a list.

i like that. charles: thank you, i thought you would. liz: look at all of this red and see it all on the screen? these arrows were slung by the fed after the markets got a little too cocky and positive. check the left side of the inter-day and we'll run through these right now. initially stocks rallied at the open and dow popped above 34,000s after cooler than expected economic reports came raining down in the form of weaker manufacturing inflation and retail sales numbers. boy, those retail sales numbers miss. the s&p pivoted from a gain of 23 points to a fall right now of 47. the nasdaq had been up 128 points. at the moment we're down 97 and by the way, that swing for the dow, we're down 478 at the moment, high of the session was pretty much a gain of as i said 105. we're looking at a big kind of neck snapping move here. the win streak to eight sessions for the nasdaq in pe peril at te moment and hopes that it might

pull the federal reserve off the interest rate hike path and that's when the fed brigade charged in and l loretta mesoterrific staid the benchmark spiked from 0 to 4.25 to 4.5% ahas not hit her target and she said "we're not at 5% yet. we're not above 5%, which i think is going to be needed. markets did not like that. while mester declined to say how much the fed should tighten at its mideasting in two weeks -- meeting in two weeks, james bullard said go 50 basis points and here's why. >> we want to ere on the tighter side to make sure that you get the dis-infuriation natural rights approach process to take hold in the economy and push inflation back to the 2% target. liz: all right, the 10-year yield that opened at 3.54% and interestingly enough dropped as

low as 3.37% and we're right there right now down 17.7 basis points and if you look at two year yield down 11 basis points, it's more sensitive to fed policy. it went as low as 4.07 and barely above that right now at 4.0 #%. look at -- 4.08%. honeywell, mcdonalds, ibm are really trailing for dow industrials and coca-cola, jp morgan sheas are following. it's not among the worst blue chips but microsoft arguably came out with the worst headline citing the economic slow down saying the company is laying off 10,000 employees. that is less than 5% of the work force but it's a huge number and a dallas said microsoft will take a $1.2 billion charge related to the severance cost and microsoft shares are down $3.22. we should check goldman sachs because that one was tumbling 6.4% yesterday on the big q4

miss. look at this, it's the only dow component in the green and up about half a percent. even the transports that were punching higher. thanks to the upside move by trucking and logistics giant jb hunt have reversed and we've got transports down 25 points. jb hunt showing an impressive recovery from the premarket losses turned around and went as high as 7% as a gain and right now up 4.5% at the moment and jb fourth quarter report was filled with misses and declined but investors thinking twice about buying on the dip. qualcomm, look at that one. one of the top winners on nasdaq and s&p and chip maker popping 2% at the moment after a quarterly cash dividend of 74-cents per common share. fed chair jay powell has covid and showing mild symptoms. he will continue working from home. we got a lot to swallow. let's get to the floor show. sea ports founder teddy weisburg

and michael o'keefe. teddy, right to you. is this the fed dousing whatever fire was up there? >> liz, if people are confused, i get it. i mean, last week bad news was good news. economic news that is. this week bad economic news is bad for the market. it is so confusing. all the rhetoric from the fed, all the rhetoric from all different quarters, all we have is a lot of uncertainty. we've seen this show before -- liz: can i interrupt? teddy, uncertainty? i say that because the fed has been quite clear. crystal clear, they will not be cutting rates any time soon and each time the market gets a little bold like it did as you see on the l left side of the inter-day pictures, the dow comes in with the fire hose and says now you're all wet again. >> liz, i don't see it that way. i think there's too much rhetoric coming from the various

fed governors, and they all speak a little differently. you know, it's not historically what i'm used to coming from the fed where there was one spoke person that spoke for the fed. but the fact is that every time we've had relatively weak economic news it's the bad news has been pretty good for the market because it translates into perhaps the fed will not raise as far and fast. i'm not saying that they're not going to continue to raise, but i think the market is reasonably comfortable with 25 bumps in the rate, which is what a lot of folks are looking for in february. now, all of a sudden 25 is off the table and now maybe it's 50. you know, the message keeps changing, liz. the mesoacc play changes and that's the -- message changes and that's the uncertainty and here we are down almost 500 points on the dow. liz: michael o'keefe, they look

at this and put through the crucible and where's the tail wind for the market where people can go in there gang busters and figure out a trade? >> yeah, i think the idea of a tail wind. we see the year really broken into two parts. what's happening today is exactly what we were thinking. it's almost like 2022 continued into 2023. this debate about the fed watching all the data very, very closely, watching inflation. we had good numbers today, really. and then yet a bit of weakness basically it's delays and delay in the fed effect coming in. we're going to have the volatility for some period of time. whether it's 25 or 50, we'll see. we actually think though that the fed will do 50 total this year and what will happen is we see inflation cool, there's a good report today and a bit of a sense of finding balance and from there we move higher. liz: okay, to my question, where are the tail winds for your clients? >> well, the tail winds, this is a great environment to be investing. number one, great

environment -- liz: everybody hear that? great environment. >> not that attractive of an environment. liz: now you're talking tedly's language, he liked the environment. >> we're setting up for recovery and with that is a cyclical recovery in stocks. liz: basically, you see that opportunity and then, teddy, you were saying that at the end of last year, just a month or two ago right here on the show there were some of the names you said, you know what, let's go in here, it was almost like a technical call liking verizon and med tonic and you can put up some names you put there. in fact since you said to buy those names, i believe most of them are moving higher since you menaced it and so -- mentioned it, good call there. are you still in these? >> no, i'm still in the names and it was a great call for three trading days but basically most of those names are slowly

giving back those games. we started off the year pretty good, liz, but the reality is we're not out of the soft sand yet and nowhere close to a solid backdrop or putting money to work in my opinion. liz: don't get too aggressive of a buyer is what you're saying? liz: yeah, the three year treasury is as far as i'm concerned is -- liz: three month or year? >> three month. sorry. liz: i got your back. we all make enough mistakes. michael, i was reading the stiefel 2023 outlook. i went through all this. you have tips to navigate a bear market, making the bear market your friend. >> yes. liz: we can put these up, dollar cost average, into stocks and then quick reaction to drop because why? >> because inevitably markets recover; right.

you quickly react. liz: pretty soon after; right? >> yeah. sort of that old adage if you sell on the weakness, you decide when do i get back in? it's a tough trade to do. obviously you hold, basically. liz: you hold and then also say, you know, don't try and time the market. obviously this is a opportunity. >> yeah, timing the market. you do an analysis and look back over the last 20 years, you miss the top 30 trading days over the last years and have a zero percent return over the 20 years. liz: everybody that, is the perfect example of why you probably should not be trying to get in and out. i've had a lot of people coming in and say i just put my whole 401k to cash because i feel it. >> yeah. liz: then you miss the opportunity to go up. >> we call it time in rather than timing the market. that's the catch phrase. liz: yeah, back to the fed.

it what do you see for the market? >> the base case is not to go to 3,000 and we'll experience the volatility and weakness. we can trade down from here for sure. then as we sort of figure out watching inflation cool and the fed stops softening their message a little bit, which i think is probably two meetings away at the earliest. that will lead to a sense of finding balance and recovery. our full year forbe cast to end the year and -- forecast is to end the year around 4,000. liz: that's a gutsy name. we're 30 not 40 now. i see what you're saying. finally, teddy, what do you think the fed will do february 1 when they announce? >> i think they'll raise rates at 25 points and the market will

like it. liz: okay, all right. got two of them then. thank sos much. good to see you both. michael, teddy, we told you that microsoft is laying off 10,000 employees but hidden beyond that headline, ceo said the tech giant will continue hiring in key strategic areas. could one of those areas be ai? it's made a massive investment in open ai, that's the parent of the controversial chat bot chat gpt, which is bringing the future of ai to the masses. but do the dangers of artificial intelligence outweigh the benefits or is it the other way around? here to answer that question, the cofounder of ways, the mapping and traffic kings now uses ai in the navigation app, which is wildly popular. popular. he's about to join us and we'll get his opinion. the closing bell ringing in about 48 minutes. we're live humans and coming

back in a minute. the nasdaq is also in the red but so is the dow, down 434 points, don't go away. ♪

i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by

with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck.

liz: a growt growth index teskyg mockery of what -- grotesque mockery of what is means to be human that's how chat gbt was used to emulate the style. the chat bot has come under a lot of fire in recent weeks, particularly by schools and universities as students use the site to write homework, term papers and essays that they didn't generate on their own. the issue led to more scrutiny over artificial intelligence in

general. cena announced review articles written through ai applications due to serious errors that the ai chat bots made. while artificial intelligence was not used in waze when its cofounder sold the company to google, if there's anyone that knows ai, it's founder of waze uri levine because waze uses it and he has his heart and soul in the company. levine is a board member and in his new book, fall in love with the problem, not the solution, a handbook for entrep entrepreneud hit shelve just yesterday and uri joins me now first on fox business. what do you make of chat gbt? >> i think this is amazing and it's opened up a lot of opportunity for us. now at the end of the day in many cases, we think of technology as changing the world. it's not technology but how we're going to use that. for many of the chases i would say chat gbt today is not good

enough. when google started g mail, it was not good enough. when waze started, it was not good enough and they needed inter-rations and inter-rations and inter-rations until it became good enough and eventually this is what we should be expected for chat gbt. liz: are you worried at all that the chat bot and chat gbt put a wall up against intellectual generation of thought, human thought, and our brains may atrophy? i'm hearing what i hear -- i'm saying what i hear people say and not exercising the imagination and bots are doing it now. >> maybe we're using new muscles for the future that we don't know exist today. for a second i would say before we started waze, we were all knowing where we were going and we figure out the orlikowski generallation and the map and -- or generallation and the -- orientation and the map and knew how to get to places and maybe

waze took away orientation and do other things and same with the phone numbers, when we were kids, we remember them all and now we don't. liz: chat gbt lets the general public experiment and you have add insider reporter that use it had in her hinge profile and said she got completely ghosted by everybody who replied on this dating app becauses responses were cringeful as if written by a hipster in 2010 and probably mentioning craft beer and avocado toast. you feel the benefits far outweigh the negatives here? >> always. with new things that are come at the end of the day, the value they generate is way getter than the -- better than the damage they create. they all create damage. liz: vc funding for these and word that some are spills and pouncing into open ai and that's something that's shown real

success and peter teal is reportedly considering making an investment. you as vc and investor and helping startup, your book, fall in love with the problem, not the solution, focuses on how whether it's ai orpine other idea that people have -- or any other idea people have, how to turn that idea on their head and look for the solution. instead, you say look for the problem and really embrace it. >> exactly. at the end of the day, all the startups in the world that are looking for a way to create value. whether you solve a problem, you create value and it's based on chat gbt and not what it can do but what we're going to use it for that's going to make the impact. liz: would you say no guardrails should be put up on that? >> exactly. if you think it should create a

problem and what we follow that problem is a solution for the derivative of problems. if kids at school are using chat gbt to write essay, they should and that's demonstrations of creativity. liz: there's a student that's come up with a code that is going to shut down chat gpt and teachers are dying to get their ands on it. perhaps that's an explanation of how your theory is correct. vc funding dropped exponential chicago, 35% last year and rising interest rates and rising inflation. where do you see vc funding going this year? >> when we look at the historical bearish market in 2008 and 1984 and what we see is the prime market is the first one to get the hit and vc funds follow and ipos look further down the road right now and so

you don't want to invest in something that a year ago you expect to go public within a year and now say, no, no, it's going to take longer. the result is valuations are dropping and then vcs pouring less money into the season. at the end of the day, these periods of bearish markets will end when they end and it's about two years. liz: uri levine, cofounder and former ceo of waze, my one favorite app of all time. but i'm an la girl. you put thompson guide to shame here. we live by that map. it was a huge book for la county. >> absolutely. liz: kids can't read dang maps. fall in love with the problem, not the solution. did you hear about the new york rabbi that used chatgpt to write his entire sermon? tomorrow that rabbi, rabbi josh

franklin of the jewish center of the hamptons joins us on the point he was trying to make about the ethics of ai and what he discovered the app cannot mimic. plus, silicon valley originals sun microsystems founder scott mckneely is here as well and will weigh in on the worries surrounding ai. see if he agrees are uri that it's not a worry. elon musk is one of the founder of ai and way busier, maybe counting the cash from the fire sale he just held of twitter assets. his kitchen sink may not bop for bids as the option but we are looking into how much some of the appliances and twitter artifacts hauled n. sold them all off. tell you all about it coming up. and i need you to know this guy, eric la grand, the star defensive tackle for rutger's university was living his football dream when he suffered a spinal cord injury, paralyzed from the neck down at the young

age of 20 and this young man decide he'd control his fate and prove ex-prepared to rules and doctors wong. experts and doctors wrong and used the power of his mind to reverse what doctors said would never work on his body again. now he's not just a sports caster with his own series but opens own thriving jersey coffee bar. how did he move mountains? his story of success is his focus of my latest everyone talks to liz pod kassandra on apple -- podcast on apple, google, spotify. wherever you get your podcast. dow is down 483 points and s&p lower by 47 and nasdaq flagging nearly a percent and we're coming right back.

liz: we have breaking news here, the dow is hitting session lows down 494 points at the moment and we have the s&p lower by 48 and one and a quarter percent down and 97 points clipped and we talked to uri levine, the cofounder of waze about chatgpt and the challenges that swirl around it and now homework assistance and online textbook firm khegg is selling off because wall street pinpoints chatgpt as a threat to chegg's business and down 16% and bmo capital markets is the chegg's web traffic in the u.s. weakened throughout the fourth quarter and coincides with the release

of chatgpt and allows users to tap ai to write and complete tasks and cutting the stock from a buy to a hold. moderna up 3.5% after the vaccine maker said its rsv vaccine is 84% effective in preventing disease in older adults. the vaccine uses the same mesosaenger rna -- messenger rna as covid-19 shot and moderna says no safety concerns have been identified during the clinical trial of the vaccine. look at oatly. it's been an up and down day for oatly and trickling lower by 3.7% and the swedish upgrade company got upgraded and they hiked up the price target from $2.50 to $6. yeah, we're only at $2.60 at the moment. analysts cite oatly's manufacturing partnership in north america saying the plant

based food is resilient. the stock fizzled down 61%. shares of digital world acquisition are on the move to the downside by 7.5% on reporting former president trump is planning a return to twitter and facebook. dwac is the special purpose acquisition company that plans to american with trump's social media company truth social and nbc news reports that trump petitioned to unlock his account and parent meta platforms will announce a decision on trump's return in the coming weeks and if he goes big on facebook, dwac might not get all of that wave and win from that. in the meantime, shares of companies associated with trump's app rumble and funware up 4.1%. we should look at tesla shares. tesla shares at good day yesterday and stock is lower right now after opening statements began today in a federal trial over ceo elon

musk's tweet from 4 years ago where he floated the possibility, remember this, of taking the ev maker private. so on august 7, 2018, he tweeted "am considering taking tesla private at $420, funding secured". a lawyer for tesla investor said musk lied when he said that funding was secured while an attorney for tesla ceo argued that the billionaire merely used "the wrong words". from tesla to twitter, musk social media company auctioning off everything that's not nailed down, office supplies from the san francisco headquarters and everything else. the offerings include used furniture, kitchen equipment and a little bluebird statue. joining us now one of the hosts of the new fox business show launching this monday at 1:00 p.m. eastern, the big money show, taylor riggs. everybody, we need applause. we're state of america psychod to have you. >> thank you, what a fun way to

kick off the show with you. liz: yeah, you guys are not just looking at big money and stock stories but the personalities behind them. >> yeah and how to bring all the big money on wall street. people are making money from it and the american dream is there but we want to die jest it in a -- digest in a usable way for the audience and make them more knowledgeable to feel like they're part of the game and people on wall street are winning. liz: it looked for awhile there that the landscape had been smoothed out and that it had been de-pocktized for invest -- de-mocktized for investing and people can go online and trade their own stocks but once again wall street looks to get some of the inside edge on all of that. you guys have made it your mission. you, brian brenberg, dagen mcdowell. >> yeah, they'll be wonderful in the 6:00 p.m. hour and the three of us come from massively different backgrounds and brian, i poke fun at him like the

bigbrained professor and he'll come with the economic theories and i have a institutional background and jackie is intern national and commodities focus and we have different ideas and how do you make them work and bring that to the audience and have the conversation? i think so much of what is missing around dinner tables, around financial networks are a conversation about what is moving markets and what really is going on. liz: that's why i believe fox business is number one right now, and the "claman countdown" because we broaden the a appture to doctors and lawyers and editorial assistance that knows and everybody cares about their money and we try to make it much more understandable, but there's zero dumbing down here. let's talk a little bit about all the personalities that drive business and disney, you guys will be covering this story because wow, nelson pelts the big activist investor dove in saying he's annoyed with how the

company is being run. bob inland and orange countier just came back -- bob oil and iger cameback to run the compan. liz: bob iger is hard to bet against because he's a big personality and maybe things went wrong and may overpaid for cassacquisitions and maybe disny was late to the dreaming game but all in all, this was a company and a man that pivoted the company when he needed to during covid and frankly made it worse. yes, stream asking an expensive business, losses are a bit more than others right now but it's hard to look at bob iger bringing back the company and bet against him. liz: it's below $100 again, taylor. >> i know. majoritmoffit nathan had a repot said people feel like they're getting to read what wall street has to say.

moffit nathanson outperformed with a $120 price target and think the earnings growth and advertising growth of about 2% can still sort of overcome any of the near term head winds that we're talking about some of those being of course some of the maybe confusion on the board and ceo swing. liz: there's one thing that nelson peltz isn't confused about and abigail disney is a big shareholder, a grand niece of walt disney and has been complaining saying this is ridiculous and news that one of the executives was getting $100,000 a day. this will be fascinating. i can't wait to watch yogis. >> thank you. when it comes to ceo pay, liz, there's a fine line of wanting to compensate a ceo for taking on the risk or maybe coming out of retirement or putting his reputation maybe that bob iger is doing for coming out and how

do you reward that and reign in and suspend and advertise a macroeconomic economy is starting to slow down a bit. bit. liz: i cannot wait, the show launches -- >> monday, 1:00 p.m. eastern. liz: guys, it's that final block before the closing bell. you've got to watch it. taylor, along with cohost brian brenberg and jackie deangeles the big money show 1:00 p.m. on fox business. go crush it. crush it. you guys will do great. >> thank you. liz: up next, ev revolution driving into 2023 with the pedal to the metal and record ev sales last year coming from kia. its coo here next to hell us how he -- tell us how he sees his brands competing with the big three and tesla and hearing more people saying i bought a kia. swear to god. closing bell, we're 22 minutes away and dow down 524 points.

we're seeing real delegation and we're at -- degradation and we're at session lows. we'll stay with it minute by minute, stay with us.

>> general motors -- liz: general motors, top auto maker in the u.s. revealing first hybrid version of the chevrolet corvette. look at this thing; right. the 2024 e ray. gm says it'll be the faster corvette on the road traveling 0-60 per hour in 2.5 seconds. price tag for the electric and gas sports car starts at -- never mind, liz. $104,000. plans o unveil a fully electric version in the future and gm ramping up and stock is down slightly at the moment and ramping up as evs grab 10% now of all auto elect a speaker sales around theworld and u.s. 0 fully electric cars in 2022 and

that's a 5.8% year overyear increase and hyundai-owned kia america posted its best december sales ever with a boost from electric vehicles surging 142% year over year for the month. while total auto sales for last year popped 25% higher than 2021. hear more about this and joining me in a fox business exclusive, kia america coo and executive vice president steven center. you guys unveiled seven evs last year. tell me about the sales. >> it's very exciting time for us. we celebrated our 30th year of incorporation in the u.s., and our 10 million sale, which incidentally was an ev6, which is our new all electric utility vehicle. it's a big change in what the market's asking for, and it's

very exciting to watch. liz: let's talk about prices. new car prices rose about 6%, i believe. that was year over year in december but softened one tenth of a% month over month. a bit of give when it comes to that. what are you forecasting for prices? >> well, everyone has been trying to hold the line in the face of pretty rapid cost increases, and some of them might be permanent and some of them might be more transitory because there's so many bubbles and supply chain everywhere whether you consider logistics capacity or just parts and pieces used to make the car. liz: who do you see as your big competitor here because there is no more -- at least moment by moment there's no more scarcity premium for tesla anymore. you guys are coming out with a lot of evs, the hyundai is coming out with the ionix and every other car company,

volkswagen is going nuts with ev. who do you look at? >> our competitors are everyone and for the consumer, this is going to be an incredible couple of years as everyone begins to introduce their lines of electric vehicles. there's one big monster in this part of the market right now, and the share is for them to lose going forward. liz: well, we have definitely seen supply chains easing up, but i would be remiss if i didn't ask about the rid of thet that pliers of hyundai and kia employing younger children, too young by regulations, in alabama. what have you done to investigate this and make sure this does not happen anymore with the suppliers that you had been using? >> well, that's certainly not our direction and we trust the suppliers we use conform to any of the laws or all of the laws in the environments where

they're doing business. liz: did you dump any of the suppliers? >> i couldn't say but i think it's more important that we make it clear what our standards and practices are and make sure they don't defending championuate from that. deviate from that. liz: yeah, it only stands in the best sense because you guys are on a roll, you're doing incredibly well and i'm hearing more and more people saying they're buying kias so thank you very much for coming on, steven. >> okay, thank you very much. liz: steven center, coo of kia america. what are the ties between the famed winkelboss brothers and gender capital in we're going to reveal that genesis may be about to file for bankruptcy. charlie break it is next. closing bell, 12 minutes away and now the dow jones is lower by 614 points. folks, that's a more than 700

point swing just this session alone from travel plans -- trough to peak and peak to trough. stay right there, we're coming right back.

♪ every search you make ♪ ♪ every click you take ♪ ♪ i'll be watching you ♪ - [narrator] the internet doesn't have to be so creepy, the duckduckgo app, lets you search and browse pria blocking most trackers all forf your search history is never tracked, so it can't be shared. and when you leave search, duckduckgo helps keep companies from watching you as you brows. join tens of millions of people making the easy switch by downloading the app today. duckduckgo, privacy simplified. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance.

that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. ♪. liz: all right, we just hit a session low a second ago where the dow lost 624 points.

we're down 604 at the moment so a selloff in these last few minutes of trade. the nasdaq is deeping its losses down 121, s&p down 58. we're searching for catalysts one of them could be philly fed president patrick harker spoke in the last 35 minutes, he said that the fed could raise rate as few more types. he didn't say two more times. he said a few more times. he said the time for supercharging rate hikes that would mean maybe 75 basis points is over but he didn't specifically say now we go to 25 basis point hikes. so we're watching this very closely. the dow down 608. we have reports out that the crypto lending unit barry silbert again significance trading could file for bankruptcy later this week. -- genesis. >> prepackaged bankruptcy. where the creditors come together with the company before you actually file, say okay,

here are the terms of the deal. you know here is what we accept as payment for non-payment. what is fascinating about this it is a northern payment. again necessary owns gemini oweses winkelvoss, two of them. the counterpart tries to get crypto, earn a vig for people part of that. the vig is the interest rate. as you know when, it is hard to earn a vig in crypto right now. liz: yes. >> if you invested maybe in bitcoin when it hit 15,000 you made a few bucks now that it is considered a flight to quality following the ftx implosion, everything else. it is up to 20,000. it did tank a little bit. everything is downish, ethereum, all the other coins. there is no way to make a vig

right now. that is the problem with crypto, industry hate to say it of air. these coins are not -- liz: get ready for the attacks. >> dude, just what is the revenue of the bitcoin blockchain? when is the revenue ethereum blockchain? what is the revenue of ripple blockchain or ripple cross-border payment system? i'm telling you there is not a lot of revenue here and you know, if the fed continues to raise rates as you've, you had the gentleman on yesterday they're not backing off. the guy is saying it now. that is why the markets are off, and risk assets will trade off. why risk your money in bitcoin if you can get a decent return on a treasury bond? and that's where we go from here. i think it will be a real interesting market over the next year. liz: how damaging could it be to the winkelvoss brothers? >> their reputation is shot, if you think about it. they created a program. they were banking on a

worldwide, sort of market that would actually pay dividends to people. now we don't have much. you know, i don't think it is just them though. liz: not their reputation. maybe simply that part of the business isn't doing well. they have a pretty pristine reputation. >> i'm not saying they're crooks for anything but they bet on this thing. this thing was a big part of it. by the way it will reverberate throughout the industry. apparently the gentleman that owns coinbase, all these other entities is kind of like involved in this as well. barry sabre. liz: silbert. >> coin disk is tangentally involved. this will be a interesting year for crypto. i saw this play out in the past with the implosion of dot-com stocks. it gets pretty ugly when asset

val as you start to, as they say, normalize. liz: charlie, thank you very much. we've got asset val as you dropping at the moment. dow jones industrials down 627 points. the bears are unsheathing their claws with two minutes to go, 2 1/2 minutes to go to trade. george young, portfolio manager atville lori and company, predicting that valuations are coming down. expect to see acquisitions increase. you have a couple of picks overall, george. what are they? >> a couple of them are important. this is the opposite of crypto of the these are things that you can see, touch and consume. one is monster beverage should be very familiar with everybody if your audience. they have a great record. they have a great product. they are spending in china. red pull is the main competition. coca-cola owns 20% of company. that tells you about a accolade and buy-in for them. i think it appreciates 15% a year from here.

fantastic company. liz: and, again, let's keep in mind that inflation is still at 6.5%. granted it has definitely come way down but how important is that the fed attempt to really tamp down on inflation when it comes to all of these companies and their valuation? >> sure that resonates across the market completely but you have got to keep in mind the economy still remains strong. villere, our firm we believe in domestic equities. unemployment is low irrespective what microsoft and others are doing. unemployment is low. consumer is strong. that will beef up the economy. we continue to be optimistic regardless what is going on today. remember this is a long term game of investing. keep in mind long term. liz: i understand that. we certainly support that especially depending on peoples time horizons but if you look, okay the russell is down 1 1/2% but the dow jones industrials is down about 1.8% at the moment.

the dow had been, that strong one over the end of last year. what do you think happens this year? >> well, we're small cap oriented, so we see great values again. talk about merger and acquisition activity. small caps by definition smaller. also values are there. i can see a lot more activity coming up with interest rate 10-year from 4.25% today. irrespective what the fed is doing, ten year is saying something different on long-term rates. i think that will make a difference. liz: gotcha. call it 3.375% for the 10-year year-old. dropping today. [closing bell rings] thank you, sir, thank you so much for being with us. not only the market significantly in the red. nasdaq seven day winning streak comes to an end as market ends at session lows. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow."