tv Cavuto Coast to Coast FOX Business December 15, 2023 12:00pm-1:00pm EST
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a lot of 18-year-olds. i will go with 46. stuart: lahren. stuart: lahren. lauren: you said you were certain. i will go against you just because. 1946. stuart: it is 1971. i remember it. i remember it. 18-year-olds voting in 1972 presidential election. the 26th amendment was signed by richard nixon. you can vote when you are 18 as of 1971. that is it for the week. great stuff, thank you very much indeed and counting down to coast to coast. 5432 one, coast-to-coast starts now. neil: going for seven straight
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up weeks, just this week the dow is up at thousand points and all the major averages up a couple percentage points and in case you are eager to put this rally in perspective, look at this for the year, each of the major averages up double digits and then some and the nasdaq, more than 40% and a couple weeks to go. let's see how far david wagoner sees the market going. what do you think? >> reporter: a lot of people saying sell the news, the market has gone too far too fast and it is a potential breather we can see in this market but any of those quotes could end up describing it towards the end of the year. i would say investors have to stay limp but no market goes up in a straight line especially after such a large rally. since the market's recent bottom on october 27th of this
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27 of this year the s&p is up 15%, small 22% so we could see some short-term profittaking. neil: have we gotten ahead of ourselves on the rate cuts beginning as soon march, april of next year? the market has doubled those cuts, thinks we might get a couple dozen which would indicate almost every fed meeting if that were the case, someone has to be really going. >> there's a difference between market expectations and what the fed has been stating for two years now. we saw the spp saying there' s new rate cuts on the table, markets pricing in six but if you head out to 2025, those projections on where the fed chair convenes. on the low end, 2 and a quarter
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and on 1/4 and on the high end, 5.5%. there's a lot of unknowns but the surprising factor out of this meeting was actually the fed, the commentary with the right tail risk of inflation becoming unanchored, seeing a second wave but not to to recent bias, but they tend to come into weight, not just this year but next year and in the future there won't be a second wait and markets rallied. neil: you are a young guy, and accomplished guy, they are saying i don't want to get snookered into some things that might not last. you going to tell them?
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>> the biggest question, if the 7 starts to drop off so well for market itself, that is the connotation for a lot of investors. sean: to interrupt. >> mega names are trade and on average 36 times more but markets trading 19 times but the average stock is trading 15 times and if there is mega tech stocks falling off a cliff, the s&p 500, i would state the other case, since november's inflation numbers came out, we've got the average stock starting to insulate the market. it hasn't done a whole lot. looking at the average stock, 24% of the s&p trade within a 10% proximity of all time highs, the s&p is off 1%. i think you could see some
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continued momentum. neil: interesting way to step back from the numbers so they are not all out of whack. look forward to seeing you again. in the meantime, something we are following is a possibility of something being done on border security, hope springs eternal and it is the season. chad pergram, what are we hearing? >> reporter: there was concern about losing momentum had senators got home in the holidays which is why alejandro mayorkas is back in the senate today, there's a rush to secure the deal. >> one of the most import things we will decide in this congress. >> there is growing concern among liberals that the plan
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could have the immediate expulsion of that. it's not clear what policies the administration to or remove those illegally. to discourage people from coming up. it's a numbers game. >> that to me is the cleanest way to address the lack of confidence in the administration. it could be a weekly flow or monthly flow. the minute it hits that level, you expedite the approval and return on an immediate basis. that is the majority and you would think it would have a calming effect. >> reporter: some democrats came to the table wanting a deal on border security, the border was becoming a political problem for democrats. that is why there is a push. >> we can't pretend there's not a mission here and it is not ideal to deal with that before the holidays and here's where we are.
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it's not xenophobic to have a conversation about border security. >> reporter: if they land the deal it's hard to see the senate having it in order for a vote. the house is not engaged in these talks and a deal like this slips well into january. neil: the big shipping giant mirsky will halt red sea shipments in a halt of global trade. it's concerned is concerned about the attacks on vessels in that region, they are forming a task force to protect such vessels including our own. one of the biggest shipping companies on the planet come out of denmark, saying the better part of valor is to avoid that area. let's go to senator roger wicker who sits on the armed services committee. it's a big develop and when a
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big shipper says no. >> reporter: it underscores how important it is to restore the border in that area of the world and part of that is to make sure the terrorist groups sponsored by iran, this includes folks coming in, and the houthis coming out of yemen and those in gaza are dealt with. and i don't blame them for wanting to take care of their assets and make sure their insurers are involved in that too but let me tell you what this does is underscores how much we need this supplemental package to be done as soon as possible and that will require some negotiation on border security.
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and so we won't be able to lend much help on this until the administration get serious and understands border security, real border security. neil: one more question, the company is saying this decision to avoid the red sea comes after an incident involving a mirsky gibraltar ship and another attack on a container vessel earlier today. so they have had enough. a lot of the world's economic activity goes through this route to say nothing about key regional players that might get financially hit as a result. would you push for this task force the president wants, some were looking at that.
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>> i don't much care what iran thinks. partners of russia and communist china, they are the principal ones sponsoring this terrorism. and certainly, listen to them for clues what they might do. we need to act in american interest and i am not so sure the taskforces are needed at this point. in international security, maersk is headquartered in the
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capital city of one of our principal allies. i just think western allies in nato and the middle east need to act. what i came on to say today is to talk about border security and supplemental appropriation that we need to have. neil: you were kind enough to join us on this breaking news but it looks like the two sides are very far apart on border security. is that your fear the senate goes home without securing that? >> let me say this. james lankford, a fine senator who knows the subject is in washington all weekend to negotiate this and it has been
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8 weeks since the administration sent the supplemental request to congress. this past week is the first week the white house has been engaged in this until the end of the year so home for christmas or pass anything. we can wait until we get the right deal and if we don't get a deal, that secures the border and addresses of this flow of 10,000 illegal immigrants coming across per day than we won't have a deal at all. i am ready to support a supplemental bill that helps our friends in israel and defeat the russians in ukraine and provides our industrial base. it cannot pass the senate and certainly can't pass the
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republican led house of representatives without a border security policies that really addresses this massive flow of 10,000, sometimes 12,000 illegals per day. security is important. border security is national security. absolutely necessary so we will get it done whether democrats realize we want real security, real border control and democrats should go ahead and negotiate something. neil: thanks, hope you have a merry christmas. all right. meantime, not only got your shopping done, this is the weekend to do it and technically the second weekend you have a full weekend to do it but you've got nasty weather
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ask your rheumatologist about cosentyx. neil: it doesn't look right now like the twelfth vote in the process to establish believe the house of representatives will yield a win for kevin mccarthy. kevin mccarthy is now the speaker of the house. this particular us airspace, that thing is hours. it is ten times that size and flying at an altitude that virtually unheard of and the chinese now have divulged they in fact are responsible, we are beginning to learn more how the trend or ailment happened in ohio, norfolk southern. silicon valley bank never
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opened for trading today, we are told regulators have shut it down, they cumulatively lost more than $52 billion in market value they go to mexico to be processed. all that gold, 13 to 15,000 a day, all eyes on something we cannot find in a 900 mile swath of the atlantic ocean. so far getting no sound, no anything. the us coast guard confirming an underwater vessel has located debris near the titanic in the search for this submersible. this is a special photograph taken in the fulton county courthouse or jail i should say in atlanta, georgia. first time a us president has
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had such an image recorder. kevin mccarthy gets kicked out. a renegade group locking the agenda of congress. you are looking at explosions in gaza city. increasingly escalating, we are learning all the major airlines have suspended flights into and out of israel. what a year. we are not done with it. is real the biggest story at the moment globally as all eyes turn to how long this battle lasts starting october 7th. no sign things are easing and we are told jake sullivan, national security adviser finished a tense conversation with israeli leaders, nate for has more from jerusalem. >> reporter: jake sullivan left after multiple medical meetings after the war rages on across the entire country. a lot of action between
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hezbollah and israel on the northern border and the focus remains in gaza where the idf continues pushing south and hamas terrorists fired six rockets towards jerusalem. three were intercepted, three landed in open areas and one of the intercepted rockets exploded outside the window behind, take a look. so you hear the interception there, keep in mind this is quite rare, first-time sirens have sounded in jerusalem since october. i mentioned jake sullivan met with his relapse president today, he met with the war cabinet yesterday, sullivan pledged continued us support for israel to laminate hamas but also spoke about israel transitioning to a more targeted phase of the war with less civilian casualties.
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sullivan met with the palestinian authority president as the us tries to establish a plan for what will happen in gaza after the war. israel rejects the idea of the palestinian authority governing gaza but that is what the united states is pushing for after certain changes are made. here is sullivan outlining those changes. >> we do believe the palestinian authority needs to be revamped and revitalize and updated in terms of its method of governance and representation to the palestinian people and that will require a lot of work by everybody who is engaged in the palestinian authority starting with the president, mahmoud abbas. >> reporter: it was significant after israel opened a crossing today, the second crossing open to gaza. previously documented area and it went through egypt. this will certainly help but not solve the catastrophic humanitarian crisis there.
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as for the threat from hezbollah terrorists on the northern border sullivan reiterated that he believed was a diplomatic solution is possible and war is not in evitable with hezbollah for the evacuated presidents to return to their homes. back to you. neil: be safe, you and your crew, nate for following that. joining me is the israeli government spokesperson, good to have you. i know there is no interest in badmouthing the united states or sharing conversations that are supposed to be kept quiet but you must end your government must be getting tired of the second guessing going on all around the world about your approach to the gaza situation, how do you deal with that? >> the united states, our ally and trend has been clear from the beginning of 10-7 that the only way this work in end is with the end of hamas because the barbaric atrocities we
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xanten-7 cannot go unanswered especially if hamas continues to threaten us with such massacres. i remember at the beginning when president biden said if the united states government had suffered such an attack its response would be swift, decisive and overwhelming and that is exactly what we continue to do as we proceed with the two main goals of this war, destroying the hamas terror regime in gaza and bringing back all the hostages. stuart: the administration has been arguing the goal is the same but you are overdoing it and putting innocent people and harm's away. they favor what they call more precise targeting, jake sullivan said that the use of dumb bombs as they call it is something you should address and better address. what i'm wondering, while you are technically on the same page dealing with hamas and eradicating hamas, the growing
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pressure that you are overdoing the response, how do you deal with that? people forget what started all this on october 7th, already signs that patience is wearing thin. >> our threat is proportionate, our campaign is proportionate to the threat we face which is the threat of annihilation which we are fighting an evil sadistic terror regime that perpetrated unspeakable atrocities on october 7th and says it wants to do it again. as we do that we are implement a new gold standard for counterterrorism and urban areas. we are going to lengths no army in history has gone to to protect civilians and keep them safe. part of that is we've been learning from american generals about counterterrorism mores you have had and learning from that. we've made all sorts of measures and talk to our american partners through the rigorous steps we take in selecting targets to make sure
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we strike the hamas terrorists responsible for 10-7 and strive to avoid civilian casualties. the sad thing is hamas is to the really acting out of urban areas using civilians as human shields because of innocent people get hurt that's going to generate international sympathy and that sympathy will cause a medic pressure to make israel stop defending itself but we know the consequences of inaction are too high and we cannot allow that army of terror to exist on our border, the united states would never allow such an army of terror to exist on its border and we know we see i to eye with our american friends and allies as we continue with this campaign until total victory. stuart: are very clear response, thank you very much. spokesman for the israeli government. a lot of people lecturing them about what to do and what not to do. they had to deal with that terror attack. we are on top of that and also
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the phenomenon you're beginning to see play out. remember when donald trump was playing up these indictments and court battles raising money out of it, now lo and behold so is president biden, fundraising on this impeachment stuff. we follow the money, you decide. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪
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i'm with disabled american veterans i was wondering if you had a quick minute to thank america's veterans for their service and sacrifices. sure. all right. well, come on in here. i'm just going to hit record on this. i would like to thank you from the bottom of my heart. the men and women who serve this country. we appreciate you. i hope you know that. i appreciate you, one love. i've had a lot of people thank me for my service, but since i've gotten back, there are people who've served me by supporting disabled american veterans. these past few years have been challenging
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>> it says donald trump should have all the fun trying to raise money off of all the court cases and indictments. it works for the president of the united states who is working the money crowd over this impeachment stuff. what's going on here? charles: good job breaking the story. it is complete cents. i've gotten it confirmed. a lot of fundraisers today. the flipside, the base always reacts. base voters believe their guy is being persecuted, prosecuted whether you believe it or not there is some truth to the trump persecution or
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prosecution problems. not sure about president biden. the base will react in this, small donors are piling and based on this. this is why i know it is fashionable to say president biden is going to make it, this is what he's got a shot against. this underscores, the base will we connect to trump. they haven't started with the ad campaign, the carpet bombing of the ads which will show january 6th. neil: the pattern -- this rally -- julie: when i hear republicans say trump is being -- that is nothing. neil: they look at the electoral votes. and 7 battleground states, he lost and the electoral vote decides it now. they think this is going to be fuel to the fire.
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charles: democrats think they can push him maybe in a wheelchair over the line. they think -- neil: they talk about the pickup in the economy or something. charles: this is a weird market but if you start saying the dow is up in record territory and people are polling -- you are still polling very poorly on the economy with inflation and thing slowing down, the reason the fed, the markets are up, the fed said it may cut rates. it's not cutting rates because it will be great, they are cutting rates because they are saying the economy is slowing so this is a weird dichotomy economy, two economies and again, they think they can get president biden over the line in a wheelchair, he won't even
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debate trump. neil: so much could happen. it is going to be wild and i want to break every story and crush the competition. julie: always do. charlie gasparino. okay. charlie gasparino, the best of the best. new york congressman, i want to pursue what charlie was getting into, the notion that the biden folks far from avoiding the impeachment story are trying to raise money off of it because they think it is going to rally the base. do you think your colleagues, your self, didn't anticipate that? >> any time the president is under investigation they are going to use it to fund raise. that is just a reality of politics, but i think the investigations that have been
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underway for 11 months have produced enough information that warranted the impeachment inquiry. the white house took the pose-ish and that they did not need to comply with subpoenas so the impeachment inquiry will allow these committees to enforce those subpoenas in court. you had $24 million transfer hands from chinese, russian, romanian and ukrainian businesses and oligarchs, over 20 shell companies controlled by the biden family and their business associates, including 170 suspicious activity reports about those transactions including one bank questioning the legitimacy of the shell company and whether it did any business to warrant the transaction. you then had money going from the shell company to jim and sarah biden who gave the
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president of $40,000 check while he was at the office but it raises serious questions about what these businesses were doing and what actions if any the vice president talk during his tenure. the investigations will produce the fast and the evidence and determine what steps if any are to be taken. neil: 5 could jump on a big development, many argue that if the house wants to stay republican it has to protect the 5 or 6 seats that came out of new york that flipped republican, yours is one of them, now they are doing a redistricting commission to look at this all over again and we are told you in rockland co. new york, might be the most vulnerable of that group. any of that true? what do you think of the redistricting thing coming up yet again with months to go before the election? >> it shows how corrupt the democrats in new york really
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are and when hakeem jeffries says he wants to protect democracy it is a joke. he is seeking to undermine democracy in new york and undermine the will of the voters. hakeem jeffries and kathy hochul corrupted the court of appeals by stacking it, removing the former chief judge, forcing her to step down, putting a new chief judge in, forcing another judge to recuse herself so they could appoint a new york city judge to serve on this one case and render a 4-3 decision ordering the maps to be redrawn. no question they want to eliminate me from public office and they are going to do everything they can but i point twice to democrat districts, i flipped the status "barron's roundtable" in 2020 and last year flipped the congressional seat president biden won by 10 points. they can try to gerrymander my
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district but i win because i'm talking about the issues that matter to the american people including yesterday getting my first bill signed by the president in the nda to create a special envoy for the abraham accord so we can normalize relations between israel and arab majority countries to ensure long-term peace and prosperity in the middle east so i am doing the job. i'm not concerned about the politics and attempt by the democrats to gerrymander the maps. we will win no matter what they do. neil: always good seeing you. that is a beautiful neck of the woods. it's like a good news bad news situation, cosco very popular with consumers, great news on the inflation front, prices are stabilizing, not going down. everywhere except in one area, after this.
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you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. neil: here's the good news. cosco saying it does see prices using, the flip side. the bad news, it's happening everywhere except in food prices. most human beings eat so that's the problem. steve forbes on that. it has been proving stubborn on the food side. it was on the energy side. that's come down a little bit. what do you make of the inflation for right? >> it's coming down. what is going to be the direction of the federal
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reserve, the food thing, got the word from my wife that carrots went up last week. that is what people notice. neil: italian sausages down 8% year over year. >> the fed has already signaled 3 rate cuts next year and this thing gets back to the 1970s when they got the inflation rate down because they didn't understand inflation means undermining the value of the dollar. the dollar is showing weakness again. that under the 1970s. cosco, shipping out of the disruptions from the covid shutdown working their way out so a break on the prices. the danger is the federal reserve may go back to the 70s even though they promised they won't, the economy is starting to weaken, do the rate cuts, undermine the dollar again and have a problem again in 2025-26.
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stuart: neil: when we hear talk about improvement on the inflation front and then the congressional budget office is inflation is slowing and then price growth in 2024, from 2. 9% this year to 2.1% next year mission accomplished, they said. >> mission is not accomplished because the way they accomplished it was by slowing the economy. it didn't happen all at once but you have serious head winds. even though rates may be coming down but you have a lot of companies still suffering high interest rates so may not be 8%, maybe 6. 5, 7, but much higher than 2% or 3%. the commercial real estate side, investments problems, looking at growth rates, disproportionately coming from government and healthcare. high-tech has shown good signs of life again. it's not a broad-based recovery
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so the fed will start making the same mistakes again, not keeping the value of the dollar study, doing what they did in the 70s, undermining in the name of boosting the economy after they suppressed it. stuart: neil: and it gets weaker and takes more dollars to purchase goods and the inflation -- i get what you are saying but your sense of why the markets are celebrating this. the knee-jerk reaction is now we are no longer in an environment of higher rates but when you start playing rates, aren't you addressing a slowdown? doesn't that telegraph potential problems? >> yes. i think the market is celebrating because for a while until late last year they thought 2024 was going to be a real downer so less pain to break out the champagne but it is not truly buoyant economy again. the government is putting on
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new regulations, dealers choking on evs, got to get rid of your gas stove, can't use lawnmowers in a, dishwashers are in museums now. that's going to be a weight on the economy. we are in the mode now when things normalize, 2% to one. 5% economy that europe has instead of the traditional 3. 5% of the economy and that's important. you can't have 3% growth which we did for 300 years, average is despite the ups and down, that takes pressure off of social security, medicare, hundreds of billions, not tens of billions, trillions of dollars of unfunded liabilities. stuart: can i get your thoughts on the political race and the emergence of nikki haley as perhaps the sole surviving threat to donald trump, what do you make of the momentum she has got. she trails the former president.
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>> in those two early states particularly new hampshire you get surprises, she's not well organized in iowa. desantis is well-organized, new hampshire always upsets the apple cart so you could get -- generalists love a horse race so they will try to janette up but neither desantis nor nikki haley nor any of the others came out with a breakthrough issues. nikki haley said instead of not crushing but raising the retirement age and social security come out with a proposal, work has been done on it, a huge social security system for younger people where they have their own personal accounts instead of money going to government, that goes in their own accounts. why not come out with something bold like that? they are pushing education savings. make that a central issue. some exciting things, prizes to innovators, very inspiring, use
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that as a platform, education in this country, nikki haley, real social security -- really doing something in education. none of them did that. ronald reagan did that in 1980, rebuilding the military. right now he is bland. neil: everything he promised, three key things, everything, the campaign was built, stronger military, boost the canopy, tax cuts and rebuild pride in the country and stuck to that without making it complicated and i think he did okay. >> one of our great presidents. don't be trump with bland. to make a real breakthrough in the upcoming contests. neil: different shade of vanilla doesn't make it any less vanilla. steve forbes on all that. we have more including this up arrow, the dow advancing, we've
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when any of you remember limewire in 2010, the katie. son came out, it was the -- don't know if you call it streaming service at the time but it was that had the time and it is back with this time a i essentially making the music. chief operating officer, very good to have you. >> very excited to be here. lauren: 20 explain the new if you want to college new, the role of ai. >> we relaunched it last year as a focus platform. in the last 12 months we've seen a lot of user generated content and requests for the community to create content themselves which is why they deepened the ai anyone to become a commentator and start creating their own music, we launched literally this week music ai studio.
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lauren: 1 will be the distinction streaming off of your service versus spotify and the others out there? >> we don't see ourselves as a distribution model. it is much more getting users to generate their own content so hundreds of thousands of users creating content on a daily basis, and doing it with and meta for a couple units to get the content they enjoy. neil: how does it work with all these users who might be pursuing their own and getting them up on your site but might duplicate each other? >> that's one of the big topics, data used to generate content that we put a lot of thought into this that is completely licensed and the music users get from the ai studio, licensed content users can use that content and use it commercially on other platforms. one of the big parts that we
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focused on in the development phase. lauren: 1 service said limewire was here to destroy the music industry but you found a new way to do it. is that your goal, to destroy the industry as we know it? >> went go so far as to say we aim to destroy the music industry. we love the music industry and have been a big part of it as part of our legacy. it is just a new way of creating content and bringing the music industry to the next wave. user generated content and getting everyone the ability to become a creator themselves on a new platform it is pretty much the next wave of music content creation and that is what we are striving for. it is a new offer in a space that is very established. we see ourselves not as a destroyer of the music industry at all. neil: you come in peace. what are they thinking of next?
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liberty mutual customized my car insurance and i saved hundreds. with the money i saved, i started a dog walking business. i was a bit nervous at first but then i figured it's just walking, right? [dog barks] oh. no it's just a bunny! calm down taco. sit duchess. stop! sesame no no. archie! walter don't, no, ahhhh. ahhhhh! you're lucky you're so cute. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪
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