tv Cavuto Coast to Coast FOX Business July 24, 2023 12:00pm-1:01pm EDT
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♪ ♪ that is great, very good music. here is why we are playing it we want to introduce you to the two newest members of the fox family. our stage manager celinda just gave birth to twins born on jul, all doing well. here is a trivia question, when can you drink alcohol on the four of the house of commons when debating what issue. announcing the budget, the answer, going to say never to take an oath of office. >> you know the budget, "coast to coast" arts right now.
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neil: the dow racing to the 11th straight game. epub can voters anxious about the economy never the rest, that is from a year or two, here is what is not who the voters can settle on to make things right, let's get right to grady trimble for the grand old party may be a grand old economy. for them into grand, what is the latest. >> even though the biden administration keeps touting bidenomics. were watching the fed as many voters waiting to see if they'll start raising rates again. what were expecting a 25 basis point increase and we will also look for clues about whether we will see more rate hikes later this year. with inflation cooling it is now 1% above the fed's target, president biden has been on the road taking credit, a clear sign
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he also sees the economy as key issue in 2024 and his economic advisers are making the case for bidenomics. >> this president came to of office. his main goal was to give families and businesses to the other side of the crisis and to set them up for a strong recovery, that has been done and we see it in action. the second part of the plan is to make the investment bidenomics decades of disinvestment and reinvested america so those growth momentum can keep going. >> even as inflation has fallen to 3%, were also seen real wages down about 3% since president biden took office. that can be why many americans feel their falling behind. on the campaign trail republican presidential candidates are going after president biden's economic policies which they say has led to inflation and that
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could be why the new fox business polling gop caucus goers in iowa show the economic issue is top of their list of important issues by a lot let's take a look, south carolina even more republican primary voters more than half say the economy is their number one issue way ahead of foreign policy, immigration and social issues, according to the polling former president trump has a sizable lead in both states but the other candidates insist it is still early and a lot can change between now and the iowa caucuses in the early primaries. neil: things certainly do change and fast. i want to pursue this with bob nardelli the former home depot ceo chrysler ceo but bob, i would like to shift our attention to halfway across the world in spain and what happened over the weekend. it was a draw essentially. the conservatives who were
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thought to spike the ball and have a chance to realign the government there failed in the effort, they could still manage it but it was a reminder to many that a lot of the polls i have the conservatives swamping on the notion that the economy was stumbling. i only raise it with you now could we be falling into the same trap here. at least republicans are convinced that this presidents' day and office are numbered. >> it's always good to be with you, i'm not an expert but there are some similarities. if you look at our house bill that we thought we were going to be conservatives we're going to take a dominant position and it was very, very close in very similarly there is only a few votes either way. and in your polls that you just all relative to 41% talk about the economy and you're saying is economy stupid. in a multiple of uncertainties that were facing number one we
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have a growing lawless society, crime is out of control and that's happened within this last administration we still have a border issue that is an issue and you talk about immigration 15%. i think her energy reserve is down 40% is at an all-time low that were facing labor unrest we could see ups go on strike which would have a devastating impact on the economy. corporate america is struggling with the esg and woke. neil: i'm interrupting you to say you're right on all accounts legitimate real traction gaining issues, there was some other ones of different types in spain i'm not here to take sides to say whatever was pushed in the view that was held by opposition party or getting that out in campaign commercials and the like did not resonate with voters and a good many said things aren't great things are
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awful as opposition party their 50/50 country if we talk about this a lot it's a 50/50 country i'm wondering if there are potential warning signs were republicans, what do you think. >> it is a fair question that one of the big difference is the person in charge. the prime minister over there has been there for several years and has a pretty good following and a fairly good record in the isn't the case with who we see the level of this dissatisfaction and uncertainty going forward. it is early i don't think we should be overconfident to think we were in the last election and we squeaked by a few votes so i think we have to take this very seriously and we have to continue to surface these issues that confront the economy and confront all of us in the united
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states certainly the geopolitical, the lack of power that we lost in the influence on a global basis, they all come to rest. it's critical that we keep all the issues on the table so we can have an informed decision when we go to that poll to vote. inflation is coming down i was in l.a. a couple of weeks ago and i paid $6.43 a gallon gas is still has a lot of pressure and to your point about labor wages that's what we hear about ups going on strike and some of the other things that are out there with united in the uaw. more uncertainty that i've seen eyes been at this 52 years and i've seen more uncertainty now that i've ever seen in our country and running corporations across the broad sector. very much so. >> i would arrange these variables do sometimes you think a train is going to this
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destination and end up going to a different destination and they scratch their heads afterwards. it's always a pleasure. bob nardelli. i would ago to a wealthy guy and very in full winchell guy and a big ron desantis supporter in donor and right now ron desantis depending on the pull is not looking too strong depending on the pull and south carolina for example the florida governor has fallen to third place. i asked how the same question and he always swatted away as should he worry should ron desantis worry, what do you think. >> there is not a worry but a poll is a snapshot in time as we've always said is very, very early. we looked at polling in 2008 hillary clinton would've been present instead of barack obama. neil: as you're saying that, my producers go back in time i think it was 2015, correct me if i'm wrong this is a pull from around the time that shows how
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the candidates were stacking up. i will say this but donald trump then was polling at less than 1% in jeb bush was the runaway leader walking away with this thing. i only say that to reinforce your point, these polls are in pencil right now what do you think. >> they are definitely in pencil by the time we get to south carolina race will look completely different we will have three primaries and the candidates will have dropped out, some of the people in the pool won't be in the race but the time we get there. i was with the campaign this weekend some interesting data points from that over 70% of caucus goers in iowa have not made up their mind in the third of them will make up their mind until they get past labor day and another third not until december were looking at long time periods before people make up their mind and i would argue that is negative for president trump or former president trump because of the haven't made up
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their mind knowing him completely by now that's not necessarily a good sign i think there's a lot of movement between now and the caucus in iowa in january. neil: it would be interesting to get your gut read on these things. the debate is coming up next month on fox. the former president has made it clear at least as far he could be punk enus that inequity participate in doesn't have to, doesn't matter to the 40 governor. if donald trump does not appear then you can make an argument that he becomes a target. >> i think absolutely he would be the target and he's preparing for that. if donald trump is not there i think all of the spheres will be aimed right at the governor desantis. he is prepared for that he knows that is going to happen and i think it will be not a good thing for president trump if he
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does not attend he does that last summer 2016 and he lost iowa shortly after that. i'm not sure we'll see where he goes were prepared either way. >> let's play that out that the governor has been one, chris christie increasingly nikki haley he is picked is shot is he playing it to gingerly as a fallback guy encased trump implodes and take off those trauma voters. and could that be a strategic mistake for them. >> i don't think is playing incorrectly you get to see a lot more governor desantis over the next few months a lot more and appear on a lot more media and go right after between he and president trump and what president trump did and his
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first term i think you will see more of that but planning on getting the resources necessary, that's what he's been doing and focusing on the early states. the things the iowans want our different than what new hampshire is looking for. he located messaging to the voters and states because that's where we've got a win. >> real quickly with the good guy with money what do you think the dalles been doing lately now making 11 games in a row, i have not seen that the better part of six years or more, what is going on in a political standpoint. >> it's pretty amazing what the markets done this year. most people didn't expect this in the fed is very close to being done but i'm not good is that here and say we don't want to hire a stockmarket because it'll help president biden. i think his policies have been
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horrific and his numbers are not good hi on favorability and not really campaigning yet. we will see if he's ultimate nominee. ethic his policies have not worked, the stockmarket and economy are two different things and with inflation hitting everybody out there i think that's going to be a big factor in the selection. neil: great catching up as always. he well. >> thank you. >> elon musk did he flip us all the bird? what he did at twitter that has some people with their feathers ruffled. ♪ from big cities, to small towns,
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even though twitter.com now he is a big bold x of black or white depending on what you like to entice people to believe that it is a whole new creature and online creature at that. scott martin who is very hip i just discovered the internet so he thought he would help me out, what you make of this move, will change in the name of the approach of the symbol or the marketing change what we got here? >> i'm sure elon musk hope so but the reality is this not the original to throw a letter and leave it at that but maybe that's a whole point to make controversy and make it a shock value type thing. it does speak to the fact as we've seen with the elon musk and how is taken over twitter and made it own being and being under the control of the executives prior to.
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it's effectively a way for him to put another stamp on twitter and make it unique to what he wanted it to be, doesn't end up drawing people then with threads emerging on the meta platform and other things that are out there, probably not, branding is branding but effectiveness and efficiency in execution is what brings them to the yard. neil: obviously if you have something he might not like prior management is at twitter i get that but the bird is iconic and that's a tough thing to change. i'm wondering could it be a classic battle where your damaging a brand however, controversial it might be i don't know there's a lot of controversy that you could be jeopardizing? >> i agree and am personally going to miss the bird i think it's a soft settle symbol that makes me feel good when i click on it in ever going to a new era or existence of twitter as it were what really brings you in
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there. as a new existence in the new education that twitter gives us that believes what people are coming for i'm not so sure when he does the rebrand of the symbol and it changes the name over the course of time it's going to bring something to the table beside something cosmetic. neil: let's switch to the markets you don't mind the database and had 200 points 11th straight gain you know the drill those who are short the market getting drilled are prominent names of the dow itself this is extending today unlike a couple of other days to the s&p and the nasdaq but some would argue it's getting along and others say the dow is playing catch-up because it's way behind the gains and averages particularly the nasdaq, where are you on this. >> i think the dow move cuts the mustard on where the market should be but when you speak of those getting drilled you speaking of a lot of analysts on fox business have been talking about evaluation in the market being too low say january, february, march of this year i
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think it can keep going, the worry as we get the earnings season likely will be better in the last couple of quarters more folks that get on board and change their tune that jump in with the cash and how great the market is and we will not the recession that 90% of people predict which never happens because is foreseen and the cards makes me a little bit worried time to take risk off the table. >> when you say take risk off the table, where's the risk. >> great question is usually in equities. there's been great stories and bad stories. unfortunately you have to look at stuff that is lagging like consumer staples, healthcare and industrial and our good old friend the shiny metal gold which tends to hedge against bonds and equities. we've had a crazy ride in the nasdaq and s&p 500 today and this year i think we can continue to see gold get some
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fervor especially as the fed takes a step back and that started a few days. great catching up with you as always. they go after our favorites does and now talk that the get go after our water heater, it's not quite that simple but it is a new attack line, lydia hu. >> president biden's new proposed efficiency standards for water heaters will save consumers $200 billion and will cut more than 500 million metric tons of omissions over 30 years, the proposed draft rule will propose electric water heaters and technology and gas powered heaters and industry sources say the energy efficient hot water heaters are already available on the market and more expensive to buy and install, search for
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these products shows that energy-efficient water heater can cost two times more than what the standard water heater cost, if these are finalized they can force currently available cheaper energy-efficient water heaters that are gas powered off the market, that they say would limit consumer choice. i talked to the president of a company making gas water heaters right here in america, listen to this. >> 450,000 consumers today that by noncondensing tankless water heaters that come five years will be able to buy that product anymore and they going to have to go down to a less efficient take or spend more to get to condensing tankless water heaters. >> this is the latest appliance to be the target of regulatory mandates other potential rules taking aim at gas stoves, washing machines, air-conditioners and refrigerators, the role on water heaters is approved will take
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only at vanguard, you're more than just an investor, you're an owner. our financial planning tools and advice can help you prepare for today's longer retirement. hi mom. that's the value of ownership. neil: it always struck me something in the jetsons many decades are not a century or more the idea that you can travel in the air like air taxis like we do on the road certainly would relieve the congestions on the road. apparently this is moving along at a much swifter pace, air
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taxis, my next guest describes them early as 2025 which as my calendar reminds me is the year after next, adam goldstein founder and ceo the man with the ambitious goal, very good to have you. >> thank you for having me on the show. two quick things i know the technology is there and you've proven it. always think of the regulatory elaborate to get something in the skies, where is that going? >> the good thing of all these vehicles they are much safer than existing auctions that are out there today which are helicopters, the regulators are very much in favor of bringing these vehicles to market they cut the redundancy. as you can see in the videos are vehicles on multiple sets of propellers which means no single
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points of failures in the vehicles. they're also much quieter and they don't have the same disruption to the community below, there is a lot of advantages that these vehicles add. because of the different issues the regulars have been very favorable in moving along the process. were very far along in the regulatory process and certifying the vehicles with the faa in the u.s. and we expect to be complete without not too far away in the end of 2024 and the beginning of 2025. neil: you would be competing in the near-term with helicopters. a lot of people say that's only going to crowd out the skies with two different types of means to travel the sky, what do you say. >> today there's only 50000 helicopters globally. if you looked outside of your window you probably would not see one. the reality this is a product that can be used for a lot of different purposes especially think about the way people are
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flying and moving around today. there's a lot of different opportunities to make this work very, very well. neil: what is the next step and who is it for. if you're in manhattan until one of the three airports, this is the mode to travel. for whom would be intended? >> there's an ability to offer offer this product at a much lower price than existing options today. the goal is to offer it for everyone. let's call it the mass affluent let's offer these vehicles at prices that are very similar to rideshare today think of your trip manhattan to new york liberty international rideshare will cost you $100 we can offer that for individuals. neil: what is the next step for you? >> is all about certification getting to market, that's a big milestone and were well along on the path and what we should march towards every day.
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at the very beginning of next year we will start the flight test for credit. you can come out to our facilities in california and half a dozen flying every day with the faa and this will be right around the corner. neil: is going to be wild, keep us posted. archer aviation founder and ceo. it was a battle between barbie and oppenheimer it was a battle of cooperating making a grand double feature that would attract people to the theaters. two words, it worked. ♪
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europe and canceling the destinations in seeking a cooler destination. here's what were in for over here likely more storms, fewer staff that even doubling the nation's airlines and busier skies, the ceo of united says those are among the reasons why we can expect more trouble at the nation's airports now all other carriers are seeing the same thing. 11 states are dealing with temperatures of 95 degrees or more with the new heatwave with the climate index in the real temperatures of how they feel all the way from the midwest to the northeast. new york metropolitan area near in dear to all of us talking to you is getting get hot and nasty. meanwhile a big strike and often for a while ups had plans to presume labor talks with striking teamsters, this is 340,000 people's livelihood at
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stake, jeff flock following all in philadelphia. >> hello to you if they don't get a deal by august 1 the going to shut shipped down, just a little bit but it's going to be a pretty serious deal take a look at the preparations that are underway they have been practicing picketing but there organizing themselves with the picket captains in locations around the country, 340,000 folks it could be a mess out there, they reached agreement on a couple of issues. there's no air conditioning and the ground ups delivery trucks. there going to put it in the new trucks not going to retrofit. they reached a deal not working overtime, money, that's a big one, what's impact on the economy, ups by far the biggest chipper over 24 billion packages
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a day, the post office does a number but then fedex if the ups shipping system goes down we talk to the union 623 in philadelphia, they say the company is not treating them fairly, listen. >> money in the overall treatment of our workers, the harass, bullying, intimidation, retaliation, a constant threat to our members in november how much money and i come to work and treated like trash, that's good to be a problem and addressed and fixed. >> to give you the company side they put out a statement saying were prepared to increase our industry-leading pay and benefits and they know that they need to jacket up that we gotta work quickly to finalize a fair deal that provides her into the customer, employees and businesses across the country. we have a week to go back in the
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day i covered the 97 strike because i know you sort of did to. 16 million packages shipped every day back in 1997 now it's 75 million. we are lazy. >> what is happened, always concerned about christmas gift sonata rising, it was a nightmare. you and i are too old to remember this but we do. thank you jeff, great job hopefully they can avoid just that. i would get scott martin's reaction. this goes through and you have piloted don't necessarily approve a contract and they can walk. we know writers and actors are walking. this could build and have a big impact. >> it is a lot of walking that probably ends up running itself into the economy and that's the scary thing, we seen this before with the train system as well. there's a lot of talk and bluff and things get worked out the
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11th hour. even our friends in d.c. have done that like 35000 times. i believe cooler heads are going to prevail probably a little give-and-take but something to keep in mind as the economy desperately relies on the services. neil: switching gears, the backdrop for all of this it is still a strong consumer unit he or she finds what they like in the movie theater they'll take advantage of that barbie and oppenheimer fit the bill. the two of them together help to account for a big, big weekend of ticket sales for theaters across the country over 300 million, what do you make of all of that? >> an interesting match between those two. this may shock you i own a lot of clothing that is amazing to hear i don't need an excuse. >> whatever happens on the show stays on the show. will strike it for the record but i see a lot of people wearing their pink and going to the movies and i was there buying some movie theaters and
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it was a mob it's great to have summer movie season which is a lot of fun that we prepare for the kids to go back to school but one thing i will tell you halloween by the way is one of my favorite movies of all time 20 versions, doesn't it seemed like there's a lot of returns in hollywood these days and similar stories, where is our biography about us, the taco bell from last october, that is movie worthy. >> and you been a gentleman about it. one of the things interest me about the whole thing. i thought it was a weird pairing how it was marketed i thought of the great father oppenheimer who had discarded discussion when he was talking about this. but i can just hear him say who is this barbie and yet it clearly works. i'm thinking if your savvy at this in hollywood you might do the same in you might start
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linking shows that have nothing to do with one another. i know anc started this but it burst out across the country that we can appear the two together, what do you think. >> it seems to work maybe barbie is the one pushing the button maybe it's the fact that people wanted to take the bomb to the barbie franchise. whatever it is it seems to work you saw the numbers it's pretty amazing that one of these would succeed at that would be oppenheimer and it looks like barbie is polling ahead. neil: oppenheimer is a r-rated movie is three hours long. you can't bring kids over eight, under a? >> i don't know. i'm just saying my kids are of age and they don't want to go with me i would be the person that they would be taking, not the other way around. that will change soon enough for you. >> i will go with you. scott martin, thank you for all of that. i don't know if taylor riggs had a chance to do something like see movies. i know she has a lot on your plate today for a big show but 17 minutes away. >> exactly, coming up on the
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show not barbie but second-best of barbie the missouri attorney general joining us why he put mark zuckerberg on notice from the unconstitutional behavior will not be allowed on the new platform threads. placid short shark week on if we are seeing more shark attacks this year end the economic impact on your favorite tourist destination. all that coming up but first more "coast to coast" after this. ♪
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neil: that's take a look at bitcoin right now. it is under $30000 a coin. normally if stocks are going well bitcoin or the rogue investments i don't know if that's fair these days, but they don't do as well, vice versa stocks are tumbling, things like bitcoin and gold and some of the precious metals is not black-and-white but is playing out that way today. associates founder, very knowledgeable when it comes to old things all investments. particularly what is happening in this arena what do you make it's good to have you and what
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bitcoin has been telling us. i find it remarkable that holds up to the investigations on the pylon of regulators and everyone in washington about parties we've got to do something about this the swings notwithstanding holds its own. >> great technology will always will eventually come true for wishing and there's always a lot of noise in between when a great technology is introduced to the people when they bring it and make it a part of their lives. and were going to the noise now. i think were get a c bitcoin rise above the other crypto's but it's always going to rise above fiat in its better technology. having to have a bank in the government decide on what
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currency is good is not as effective as having a bitcoin we have a trusted third-party which is hundreds of thousands of nodes checking to make sure that the transaction was done properly. it's better safer technology and eventually the rest of the world will come on board. very exciting. it's also exciting to see and how the regulators happen. in the lightest touch government will end up rebellion and that's going to be terrific. i like seeing exar p when in the legal battle with the sec, that was really important overall for the crypto currency world but i think it's great for bitcoin.
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bitcoin being the first in in the most active traded crypto currency will end up being the one everyone flies to when you can buy your food, your clothing and shelter all in bitcoin. >> very exciting times. neil: were not quite there i always like in the fear bitcoin i know apples and oranges of a third party threatening establish two to do everything in their power to stop it, there's a long history of upstart, candidates or politics or for that matter investments. that don't suit the establish working order and they'll do everything to kill it and they have not killed it and and a sht window to kill something off. if you have not done it is not what he do happen. then the question is bitcoin encrypt your currency is here to
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stay how do people take advantage of that there are delivery of coinbase and some of the others of bigotry the stuff because that's been the attack line it's been very hard to play the stuff what you tell them. >> bitcoin is accepted all over the world and it's a matter of time before retailers start to recognize that they can save 2% by accepting bitcoin. and once they realize that because they don't need to pay the banks and the color card manufacturers. >> that's a very good point, more people subsequently come to that conclusion, that is a compelling case. >> 2% probably is not enough to make this switch they have to feel like it's easy to do.
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>> if you have a large volume of business it is compelling. >> absolutely for the retailer could be fantastic and they have low margins and this is a great way to most double their margin. i think the engineers and entrepreneurs are working really hard to make sure to make sure all of these are much easier to use and much more popular and going to the same curve i remember the internet people were battling and i'm not going to put my credit card up on amazon, the google keeps crashing, what is a virus i'm seen in all those arguments were made and we tax the internet, do we block the internet and fortunately the government let
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it rip in the internet became such an important part of our world and i think the same thing is going to be true bitcoin. were going to one of the most exciting decades that will see through our lifetime we have bitcoin transforming, currency and communication, currency and commerce has done and we have a.i. coming out and transforming the way education and legal and accounting and all of those things that are done. if you start putting those two things together you can avenue world that is on most frictional list. neil: you mentioned a.i. and bitcoin, do you like them both as just investment beth obviously with a.i. it depends
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on the bed but they're here to stay, these are not going away these phenomenons that have passed the phenomenon stage. >> regulations have gotten so heavy around accounting. i think it's going to tend to in my adventure business. and that means i pay ten times the accounting bill i used to pay. i pay ten times the legal bill that i used to pay. >> adventure business for a.i.? >> what i'm saying with a.i. a lot of accounting and bitcoin all the movement of all currency can all happen automatically and i don't need to have an auditor or accountant transfer agent, lawyers, all looking at all the things that are happening
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because taxes can be paid in bitcoin it can be automatic and on the block chain. neil: there's a lot of angles to this if they clear the deck. it's always great talking to you. thank you very much. >> thank you for having beyond the show. tim draper on all of that. for now more conventionally minded, the dow is racing ahead 200 points. if this holds a b the 11th straight day and have to go back to the early days of the trip a administration to get us to levels like that. after this. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.
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neil: we are in raptor because levin days in a row for the dow erie despite the fact that oil prices are picking up a little bit right now, a tight supply not aware to investors, the dow has a couple of key energy components that might explain that. speaking of energy chevron wants to raise the retirement age because it is 63-year-old ceo is a must-have they want to keep having him in the retirement age from six to five to something else. when i was a much younger man i would say no this is young person's world don't do that, now that i'm in the age group i am a pro very old people running things. now very young people. >> were happy to have you an expert, veteran, lifelong
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