that -- does that work in your generation? >> it wouldn't be my ideal setup, but, you know, i actually feel pretty fortunate -- charles: you're watching those tiktoks about the six figure thing? >> yeah, i have. i feel pretty fortunate as a young woman growing up in an era where with you can be a girl boss, so i'm feeling good. it's all about choice, and we have the choice to do what we want. charles: lili, last word to you. >> very wise, very well said, do as you play. that's why we live in a free nation. charles: all right, folks, it's a rough day in the market. we wanted the break away and looked at interesting cultural stuff. by the way, all of this stuff has economic ramty occasionses as well -- ramifications. no one better to hold your hand through all of this than liz claman. liz: oh, so i have to deal with this. charles: hey, that's why you make the big bucks. [laughter] liz: charles, this selloff, believe it or not, as you know, it actuallyism proved in the

last 40 minutes, but it stills looks ugly. breaking news on the markets and the mcdonald's e. coli story. apple is falling on an analyst report indicating a significant cut to iphone 16 production, and buckle up for two major earnings reports coming i after the bell. we're waiting on tesla and ibm. ahead of the reveal, ibm is up fractionally in the green. wig blue's had -- big blue's had a great 2024. software business has been a point of strength, and right now tesla moving down about 1.9%. tesla has fallen more than 11 percent since october 10th when tesla rolled its autonomous cyber cabs and robo-vans, and skeptical investors have yesterday how long it's going the take before these vehicles hit the road which makes tesla's bread and butter business of making its regular cars all the more important. so we will be watching for delivery numbers. expectation, 465,000 cars

delivered in the quarter. that's up from 435,000 same quarter a year ago. maybe, i don't know, ibm if's earnings possibly could help the dow tomorrow, but for now the blue chips are in the drink. down 431 points. low of the session was a loss of 631. but overall, mcdonald's accounts for 100 points of this loss. shares right now are losing. we've got them down 5%, but that's -- i don't know, $299, that's about $10 or 9 better than the dive they took this morning to $2900 on -- 290 on news late yesterday that the cdc has opened an investigation into an e. coli outbreak at the fast food chain that's killed 1 person and sickened 49 others who ate quarterpounders in 10 different states. this afternoon, and here's the news, mcdonald's now saying it knew late last week about this outbreak. coming up, we're going to take you live to mcdonald's

headquarters in chicago as the company tries to figure out whether the cause is from slivered onions or the beef itself. we're going to get the latest breaking news. we've got a reporter on scene. mickey d's is, i don't know, the fifth worth performer right now on the s&p 500. the broader index down 62 points. the nasdaq, yeah, it looks messy, down 337 points. it's the percentage loser of the majors, down 1.8%. semiconductors are getting beaten up for whole bunch of reasons. they are the biggest drag here. we need to look at apple too really quickly. rook at the intraday of apple. you see the dive right there just before noon? that's when an analyst from a hong kong outfit called tf international securities put out a note saying apple has cut its fourth quarter and first quarter 2025 the i iphone 16 orders by 10 million units. while apple hasn't yet commented on that, yesterday verizon ceo hans vestberg gave us an exclusive indication that sales on these iphone 16s are

sluggish. >> i think that what we have seen on the cycle so far in iphone 16, it's actually lore than last year. lower than last year. customers are going slowly -- liz: are they coming in and saying i need this iphone 16? >> of course apple lovers are doing it -- liz: but not in the same numbers. >> no, we are down 10% on upgrades this quarter. liz: and then with this red on the screen for equities, you had higher bond yield withs today in the mix, and investors have their hands either on a problem or a buying opportunity. which is it? let's get right to the floor show. perfect two guys -- [laughter] to decide. market rebellion can cofounders jon and pete najarian. pete, i'm sorry, i'm going with age before beauty. >> i would always go that way. [laughter] liz: jon, you're the older one. the macro picture here, it's just a single day, but yesterday most of these numbers were in the red as well. what's going on in the psychology of the investor and trader?

>> well, you have a great stock like qualcomm. i remember when qualcomm was more like nvidia is right now. and at that time qualcomm was the driver to the upside. arm holdings says, you know, no thanks. we're going to break this architectural agreement with you and not have you make our stuff anymore. that's a big deal, liz. also the fact that we've seen interest rates going up, up, up since the september cut. we're up nearly 75 basis points. and i think that has a in and about if impact on investor psychology, certainly it does on housing, certainly it will for banks. so there's a lot of things going on, and most of those that i mentioned aren't very positive for the market right here. ly e liz you know, i mentioned at the top of the show yesterday that the one thing that tends to have the most punch in sort of punching down the markets is rising bond yields, and we do have that 10-year yield at fresh 3-month highs. so, pete, that's obviously something. but when you look at stocks,

yeah, they're individual stories. just referenced the qualcomm-arm situation. that's tanking a lot of chip stocks. intel does not look good right now. nvidia, marvell, asml. so as we look at some of these names, it is the chip9 battle between arm and qualcomm. there's been a warning that arm is not interested in dealing with qualcomm right now because they say qualcomm's investing in this other thing called risk five, this rs -- riscv which is an open source chip architecture company. but that tends to bring down an entire market? >> well, it's part of it. i think the real part is what jon brought up already. when you look at the 1011-year, the kind of spike that we've made, this has been a monstrous move to the upside. and with that, they go after the a nasdaq names because those are the performers, especially when you look at the semiconductor world. the smh, i use that to try to dissect the semiconductors. you're just seeing that relationship they've got.

as this is moving to the upside with the 10-year, every time we see that make that next move, or we are seeing the semiconductors just get pushed down and down and down. qualcomm definitely a daily story. but look at nvidia, some of these other names. they're participating to the downside as well. if why is that? because people are watching those rates move the way they are. this is an amazingly fast rip to the upside, i think, when you look at the 10 of year. and whether it's the fed or whomever, there's a lot of people shaking their heads right now, what is going on with the 10-year, and that's impacting the market in a big way. liz: it should be encouraging that good headlines that are specific to a company -- remember taiwan semi a week ago came out with strong numbers. texas instruments, way more exposed to auto, industrial and remember electronics chips, and day came in -- they came in with good numbers. people who have been dying to get into these names, is this a worry or a buying opportunity? >> right now, liz, i'm viewing

it as a buying opportunity to be. i am not committing capital today on that buying opportunity the for the reasons you mentioned. we have ibm after the close, we have tesla after the close. we have interest rates that have not broken. in fact, that fever continues to move higher as far as the yield on those bonds which is bonds down, rates up. so i'm going to be a little patient. but i would love to ping, for instance, nvidia at 13 if 1. 13 if 1. i can do that by selling puts or i can be patient and wait the buy it if i'm a stock investor. but i don't think i have to buy every little 2, 3% dip in something that's 2-300% over the past year. i think i can be patient. liz: pete, when you look at your screens, and how many screens to you watch -- [laughter] >> too many. i don't have glasses yet, but at some point -- lee les you're going to need them. what jumps out that isn't necessarily an obvious trade but that looks interesting that you

can share with our viewers? >> well, i do like, when i'm looking at the semiconductor world and we were just talking about that, obviously, but i think taiwan semi really did come in and save the day for the semiconductors. asml, obviously, right after those terrible numbers that they reported, the market absolutely got pushed down on the semis, they were down almost 4-5%, and all of a sudden we got taiwan semi, and they came to the rescue of everybody. i think this is one of those names, it makes sense to me what they do, how they do it. they're the largest in the world for all the right reasons. they can be the buoy, i think, right now for not the market itself, but certainly for the semiconductors which is a huge part of the nasdaq when we look at it. you've got nvidia and ash md and all these -- ark md and all these various names. i think it's kris call. i like taiwan semieven today. i think they're up 50% year to date -- liz: 9 is %. >> -- 91%. >> oh, my goodness.

liz: stick with me, kid. [laughter] anything outside of tech here? we're looking at the two names that are holding up, the two sectors, real estate and utilities. >> right. well, and -- liz: you're like, no, liz, not interested. >> i would not be going into utilities with rates going up because, obviously, one of the things that people invest if in when they're investing is in utilities, the yield. the dividend yield from those utilities, usually quite high versus tech stocks, for instance, that have very little. i would say if you're looking for higher rates which for the short term until that fever breaks, i am, so i'm not very interested in utilities right here. i'm interested in them, liz, because of the power generation side that you and i have talked about before. a. i., very thirsty for power. evs, very thirsty for power. and you mentioned about tesla 465,000 cars -- liz: yeah. better than a year ago. >> that's what we're looking for? when you compare that to lucid when you're talking about, you

know, under 10,000 cars at virtually every other u.s. if ev maker, it's amazing that tesla produces what they do. and that's why they get the market cap and the visibility with investors that they do. because they deliver so many cars. liz: yeah. >> and robo van, that's going to be huge. but it's -- liz: ah, a lot of people disagree with that. >> not in the short term or, in the future. i wouldn't even be touting that right now. lee les okay. why are you not owning the bald thing? you're wearing the hat -- >> i'm as clean as they get up top here. [laughter] >> you want the hat off? i'll take the hat -- liz: whoo! [laughter] bravo. all right -- >> people can't tell us apart if i have -- >> wait a minute -- [laughter] liz: jon and pete najarian, authors of "it's not an option," which is a great book, and it is free. guys, thank you. >> thank you. liz: a new deal could save spirit airlines from bankruptcy, and that's got its investors

sending the stock sky high. we've got details on a possible bid from a familiar merger partner. if sir richard branson is ready to climb aboard the world's first commercial stratospheric balloon flight. first on fox business, the billionaire entrepreneur gives us the out of this world details including the cost of the ticket you can pay to go up, up and away. with the dow jones industrials down 428 points, richard branson is coming up. stay with us. ♪ ♪ chase really knows how to put the hart in your local community. see what i did there? hey, jackie! (♪) evan, my guy! you're helping them with savings, right? (♪) i wish i had someone like evan when i started. somebody just got their first debit card! ice cream on you?

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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. liz: fox business alert, yeah, with the dow still down about

418 points, frontier and spirit airlines may be looking to get their merrier clear for takeoff -- merger. the carriers now holding early stage deal discussions as spirit continues negotiations are with bondholders over possible bankruptcy terms. look at this gain in spirit, up 49%. and, by the way, mark la resty and the najarians told me they took a big position last week. good timing, guys, e must say. frontier's moving higher by 2.9%. meanwhile, a deal-making dilemma in the financial services sector. capital one's proposed $35 billion acquisition of discover financial was already hit with a class action lawsuit but now facing an antitrust probe by new york attorney general letitia james who's probing when it would hurt or new yorkers with subprime credit scores. it would create the largest credit card issuer in the world if it is approved and does go through.

capital one down 11%, discover's down about two-thirds of a percent. upwork is the job marketplace for freelance employees, and it is the powering higher by nearly 25% after announcing preliminary third quarter results that exceeded the top end of guidance. the company said it intends the steamline the organizational structure, so it plans to cut 21% of its work force which upwork says will generate $60 million in cost savings. sir richard. branson is about to go where not hot air balloon pilot has gone before. the billionaire if adventurer investing in florida-based company space perspective and will fly on its first crewed space balloon flight. he joins us first on fox business to tell us about the latest attempt at making space tiers-friendly. and entrepreneur jim mccann created his own business spate by using the telephone to turn

one single flower shop into a powerhouse. he set up 1-800 flowers' phone line, but he didn't stop there. he took a quantum leap to the sell on the internet. yeah, this was back in the late '990s before anybody was doing this. hear how jim redefined flower power by building one of the most recognizable e-commerce brands in the world. it's this week's edition of everyone talks to liz, my podcast. listen on apple, google, spotify, iheart radio with. it's anywhere anybody gets their podcasts. we are coming right back. nasdaq still lore by about 339 points. ♪ ♪ that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf.

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liz: space tourism is skyrocketing. according to market research from prairies, the -- the lair race, the industry generated measure $448 million in 2023. several companies are well into the space tourism race. of sir richard branson's virgin galactic and jeff bezos-owned blue origin have delivered tourists into o bit and back -- orbit and back to earth safely. a workplace space station for potential commercial use, like offices in space the is being. developedded. as the industry balloons, a new option in the form of a stratospheric balloon plan toss take flight next year with virgin galactic's branson hitching a ride as co-pilot for the first crewed flight. joining me now in a first on fox

business interview, sir richard himself and the see yes of -- ceo of the company that's made the balloon. welcome to you both. richard, you've flown planes, you've jumped out of them. you've broken hot air balloon records, gone up on a virgin galactic flight. what is different about this adventure that has you saying yes? >> oh, i've been very lucky to experience space travel but also to have had some extraordinary balloon trips across the atlantic and the pacific and over mount everest and k2. and so when tabor rang me and said would you hike to copilot -- like to co-pilot the first balloon to 100,000 feet off a ship, obviously, i couldn't resist. i saw it as a wonderful sort of first stage for people who wanted to have the experience of a lifetime.

also then i could upsell them to virgin galactic after they'd done the balloon trip or vice versa. so it was just something i couldn't resist. liz: it has been tested, tabor, with no people onboard. that's what we just showed the video of, and it's got a a capsule at the bottom called the neptune, and then you've got the balloon attached. i believe this is hydrogen powered, pressurized? tell me how high it goes and what will people be able to see once they climb in this thing? >> thank you. so we launch from a hip, so it's a, an experience that we can cure rate for places around the world. you slowly, sort of bicycling speed, around 12 miles an hour, ascend. you're sort of floating on top of the earth's atmosphere at 100,000 feet. the balloon gets to be about 350 feet across and look like an ice coupe floats on water on the top of -- cube float ifs on water on

the top of the earth's atmosphere. you're seeing the curvature of the earth, taking it in with big windows all around. then when it's time cotom back with, we let the hydrogen out of the balloon, expect balloon slowly comes back down to splash down on the ocean where there's another ship waiting to quickly pick the capsule up out of the water to safely end the flight. liz: richard, the descent system, have you looked into all the details of this? is there any training involved? i know to go up in the virgin galactic or blue origin rockets, you've got to train as an actual sort of quasi-astronaut, right? [laughter] >> so i am a balloonist. i am dusting off my balloon license. [laughter] and i'm going to have to put in, you know, quite a few hours before we finally go up.

space perspective is going to do a number of flights with nobody if onboard before we take it up as a well. but i think, you know, i think i should be capable of doing it. i've done -- i've almost flown around the world, i've done some wonderful balloon flights in the past. so i feel confident, but i'm going to obviously have to, you know, have to get up to scratch because i haven't actually been flying a lot of balloons lately. liz: okay. so there are going to be eight passengers in this. i believe 20 the miles high, really describe -- because you attached a camera to the uncrewed test balloon, if is and it looked like you could see the pend of -- the bend of the everett. it's beautiful. it's almost like going with all the way up into space, tabor. >> yes. it's an amazing view. very few people have actually had that view. we flew to that height some

years ago and talked about the amazing way the sky slowly turns black and the earth begins to curve below you. so a fantastic experience. it's is wonderful to have sir richard as our co-pilot. he brings -- he's a legend in ballooning. and, of course, has inspired a generation of entrepreneurs. and so as we go forward from the test flight creating a very accessible, easy to experience way to give people that view, that perspective, t part of the magic of working with richard, he's created so many of these amazing experiences for people. this is going to be great fun. liz: well, it's in the cheap, $1235,000 a ticket -- 125,000 a ticket. you have 1800 reservations. sir richard a, to go up in vir individual galactic it is over $400,000. do you worry there will be some

cannibalization if people look and go, well, it's less expensive -- >> i really don't think so. liz: i would be concerned about that. are you? >> the experience, i think, is very different. one, virgin galactic i you go from north to 200,000 miles an hour in 8 seconds. you experience weightless areness when you go into space. you are, you know, three times as high, so you are, you know, you are floating in space. space perspective is really extraordinary, and it's going to be absolutely magnificent. and i think they're very complimentary, which is why i said yes. i think, i know many of our virgin galactic people who have signed up to go to space with virgin galactic who would love to go on space perspective and vicar is saw. -- vice versa. there are many people who would want the move on to virgin

galactic. they're both the most extraordinary experience, you know, maybe the two most extraordinary experiences in the world right now. so i'm not worried about that. liz: and you have invested, richard, in this company. they have raised about $100 million. how much of this, at least i think that's correct. how much of this is yours? >> i have taken, taken an investment in it, and i'm very pleased to, you know, spend hundreds of millions on virgin galactic, and i've also a, yeah, invested millions into space perspective, but i'm not actually going to go into details. [laughter] you know, i'm proud to be an investor. liz: tabor, take good care of him. he's a good friend of "the claman countdown." [laughter] >> tabor, take good care of each other, i promise. liz: indeed. and when you all take off, we'll

be covering it. thank you so much. >> thank you so much. liz i mean, he broke two ballooning world records. he crossed the atlantic and the pacific, the first guy to do it. finish whoo. all right, mcdonald's, well, this is a different shift here. mcdonald's smile if has turned upside down as the burger chain faces a deadly crisis. the latest developments live from merck key d's chicago -- mickey d's chicago headquarters on the e. coli outbreak. and with less than two weeks to go before election day, mr. wonderful, aka, kevin o'leary, is here to give his advice to the two presidential candidates. what should each of them be saying to get swing voters on their sides as they make their closing arguments? that's next on "the claman countdown." don't go away. ♪ elp protect. alerts that help check. one bank that puts you in control. chase.

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revealed concern this happened after the bell yesterday -- that at least one person has died and 49 ohs -- others sickened across 10 states due to an e. coli outbreak. the pop has been traced to the chain's quarterpounder burgers. the company said the outbreak might be linked to -- onions from one of to its suppliers. kelly saberi is in chicago where i understand they're now investigating the possibility it was the beef? >> reporter: yes, that's right. because the onions may have came in contact with the beef patties, and it brings up the question, how are they still selling their other beef products? as we know, their other sandwiches also have onions on them. they say that the quarterpounder has specific meat and specific onions that correspond to it. so let's take a look at this map. it shows us where people have gotten sick. we're seeing cases in oregon, montana, wyoming, utah, colorado, nebraska, kansas,

iowa, missouri and wisconsin. and the cdc notes that the outbreak may go beyond these states. the patient who died, we're being told, is older. the cdc did not specify how old. they lived in colorado. unclear if they had underlying conditions. another patient developed a serious condition that can cause kidney failure. in an interview this morning, mcdod's usa president said the quarterpounder has been removed in the menu in the areas affected. still, the other beef products that include their cheeseburgers and hamburgers as well as the big mac and mcdouble will still be available as they apparently use a different onion product. mcdonald's stock on pace for its worst day since covid. >> on a day like today given the news we've had over the last 24 hours, that's really our focus and, you know, we're confident that a we'll see our way through this and we'll restore confidence for the american consumer to come to

mcdonald's. >> reporter: the last time mcdonald's saw an e. coli outbreak was just two to years ago when six kids had symptoms that were consistent we coal lie poisoning in alabama after eating chicken mcnuggets, four of those kids had to be hospitalized. liz? liz: very worrisome. kelly, thank you are very much. so as mcdonald's gets swamped by this crisis, how would one of the most successful names in business turn the tide at the american fast food franchise? let's bring in to o'leary ventures' chairman kevin o'leary. even -- kevin, if you were running mcdonald's, what is the first thing you would do? >> 100% total transparent city is. as soon as executives get the information, put it out there. that's the key. you need to maintain the trust between the consumer and the management because this is an evolving story. it's not as -- i mean p it's tragedy that somebody has died and other sick people, of course to. but you think about tylenol,

it's a case study that many of us in each various institutions. how well that company managed that by being totally transparent and maintaining trust and removing all the product if from the shelf. it is a chestnut case in business schools. i'm here in boston teaching at harvard right now, so it's apropos. we actually talked about this situation this morning a little bit. mcdonald's is a trusted brand in america. millions of people use it and trust it, and that's -- the thing that they've got to protect is that trust. and and i know they know that, and i'm sure they're doing it. but it's never hold toking back because, ultimately, on these stories everything gets out. everything, everything, everything, whether it's leaked or december closed intentionally. every second of new information, get it out there. liz: i'm wondering if that's why a spokesperson came out today, it was on the wires, from the company and said, you know, we actually learned about this late last week. and yet the cdc announced it would investigate, and that was yesterday. it feels like maybe they were

trying to find their sea legs through this nightmare, and that's not necessarily a great thing, is it? >> no, it isn't. but if they're listening to us right now, liz, this is paramount. even if you sound stumbling or even if you don't have all the pertinent information, get with out what you have and explain i'm going to keep talking to you until i know everything as it comes in. that is how you maintain trust many in a family, and mcdonald's has a family of americans that go there to eat. i mean, that's what really this is. liz: and this reminds me, obviously, of brian nichol who ran a chipotle during a similar situation. actually, it was even worse at chipotle, but he turned that around. he now, of course, is at starbucks which today pulled its guidance for -- its outlook for 2025 the because he's a brand new ceo, and he, you know, he had to put it out there that they had the steepest quarterly sales drop in four years. what about starbucks?

if you were running that operation or advising him, how do you get people the go back in there and love it as much as they used to? >> i think you have to rejuvenate the experience. at the end of the day, they sell a commodity, and a very ebbs pensive commodity. it's coffee. we have a starbucks 30 yards from where i am right now -- [laughter] and, you know, it competes with a bagel store right beside it that's twice the price for the coffee. but starbucks has a yes me say way, if i can call it that, and it's lost a little bit of that, and i think he knows that. to get these baristas animated again, i think it's a combination of new product cycle but also maybe refurbishment of the stores. there there's things you can do. i used to las vegas the fact of digital ordering d love the fact, i'd walk over and it would be waiting for them, d -- for me, and even that novelty has

been waiting for me. liz: they used to be the place where people would go and hang out, bring their laptop and chill. i think the first time i left the house of after i had my daughter because i was is freaked out, my sister just said just to to starbucks, you'll feel better. sit there for a while. [laughter] it's not like that anymore. >> everybody has high-speed internet now, liz, that's not a new feature. liz: i know. competition, exactly. listen, i would love to just shift this conversation to the candidates right now for president. they are in the final stretch here, two weeks, and they're trying -- each respectively, kamala harris and donald trump -- to land the undecideds that are out there. can i get you to give advice to both of them, and you can start with donald trump? >> yeah. you know, trump is trump. people know him, they've been listening to him for over, you know, seven years. they know exactly how he is. he's no filter. however, he comes across as being very authentic.

45% of people hate him in america, 45% of people love him, and it's -- so that 10% undecided in 43 counties is going to make this up. i think for harris right now, and she's had a tough week -- and, by the way, in my family, we're a divided family. we've got harris supporters at the dinner table and staunch trump supporters, so we hash it out like every kitchen in america is right now. and i, in having this narrative with my daughter recently, i said do you believe that trump -- by the way, a harris supporter. i said, do you believe trump is ainnocentic? you may not like him -- she said, 100%, the guy has no filter. how about harris? if she had to admit, she processes too much. she's got to just spit it out there and say -- and i thought the big miss, and we were having this discussion yesterday with, when she on the fox interview was asked about the border and, you know, bret did something

unique, he put the timeline in about when these illegal aliens were brought into the country. not aliens, immigrants. and she, you know, she could have said, yes, we made a mistake. i own it, and it won't happen again. but she didn't do that. and it was a huge miss because that thing is on her back and somehow trump has made it her issue, and it's t not going to go away. she missed a huge opportunity. and, you know, mark cuban and i work together on "shark tank" for 14 years, you know where he stands on this. we discuss this too. i mean, we talk about it all the time. and i just think for her to win right now to get those -- this is going to be won by less than 10,000 votes is my guess, and i'll be there that night when it happens at two in the morning -- liz: us too. >> you've got to get out there and be i authentic. be real, be honest. show the pain, show your mistakes. stop trying to process it too

much because it ain't working. liz: well, there is a fine line between spending too much time processing and actually thinking before you speak. but i completely hear you. part of hillary clinton's problem was she was too cagey and too, you know, sort of thought, you know, when she would just wait too long, it didn't feel like, as you say, the authentic word. kevin, it's great to see you with. thank you. it'll be exciting, and i know we'll talk between now and then, so we appreciate you coming on. >> take care. liz: and you can see kevin in the fox business special the crypto campaign. it's going to be hosted by sean duffy. airs this friday at 8 p.m. eastern. don't miss if it. the crypto campaign has seen big bucks flowing into the coffers of not just the so-called crypto president, but also to down-ballot, pro-crypto candidates. charlie gasparino has more on the superpac support. that's next on "the claman countdown." ♪ ♪

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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. liz: with just under two weeks until election day, you just heard kevin o'leary talking about that small slice of undecided. the cryptocurrency industry is ramping up efforts to put candidates in congress and in the white house. we've been talking about

this but super packs have spent a staggering $130 million on ads designed to sway voters in favor of candidates in support of the industry. this week a new bitcoin focused pack funded by the bitcoin mining industry launched a $2 million initiative in texas and pennsylvania with ads hads promoting donald trump and texas senator ted cruz and pennsylvania candidate dave mccormick. charlie pretty interesting they would spend in texas but ted cruz his position is a little bit in play. charlie: the latest poll i saw is trump is up between 6-8% in texas for ted cruz to lose in that type of election, i mean, a lot of this is favorability. ted cruz has always rubbed people the wrong day down there. i have a lot of friends in texas. republicans will turn out. if they turn out for trump they turn out for ted cruz. let's just backup and do the story and we'll get into the politics. what i love about bitcoin mining companies is the , what's

the matter? liz: i threw you a little curve. let me just unpack the story, liz. it's okay. go ahead. sorry i got all excited. charlie: just now you really threw me for a loop. liz: that's all it took? charlie: okay, so the company at the center of this thing, just so you know, love the names. riot. liz: riot, blockchain. charlie: marathon and clean spark. what the hell is a clean spark? liz: these are well-known -- charlie: bitcoin mining companies and they are behind this pack that is targeting essentially three elected officials and i think, you know, again, i want to see , this is a very close election. you did mention accurately that ted cruz has to fight for his seat. he had to fight against b o'roue six years ago. they are spending around

$2 million, and it's through a new bitcoin focused pack to help cruz, donald trump, and dave mccormick, in pennsylvania. now, i think the two places where i think it's going to be interesting and by the way it's all social media ads, and that's interesting in this election. the trump people really believe, because i've been speaking with them on social media and what's going on. they believe social media is important as the traditional ground game that the democrats have. you know it's interesting. kamala harris has raised over $1 billion since being the nominee, right? a lot of that money goes into the democratic party ground game. since obama was elected first, you know, barack obama was the nominee back in 2008. they'vevery developed an amazing ground game. it's usually much better than the republicans. the republicans think they are making end roads, a lot of ways on social media they believe so this pack is focusing this ad spend for those three candidates only on social media and they think they can make a

difference in those tight races. again, it's crypto, flexing its muscles. we should point out this story, my producer broke the story on foxbusiness.com. she lays out the entire spending of the super pack as well. ellie gets into the guts of just how much crypto is spending on this election and it's quite, it's interesting, and it's mostly, just so you know, it's republican. i think that it's just one more point. just based on what i'm hearing from my regulatory sources. if trump is elected as president, you're going to see massive , massive changes in crypto regulation. my guess is they take it away from the sec. they give it to the ftc, and it's a much lighter hand. liz: we will be watching. could be the first crypto election charlie thank you very much. closing bell we're four minutes away one of the fastest growing asset classes is private credit. according to investment data provider prequin, the sector

grew to more than $1.5 trillion, trillion, globally last year. private credit firm blue owl has benefited in a big way. its stock has risen 83% over just the past year. it serves as a capital provider to upper middle market companies that are often backed by private equity firms. joining me now with 192 billion in assets under management is blue owl capital co-founder and president mark lipshult dis: mark the last time you were here we talked about private credit but it feels like suddenly everyone is talking about it. i mean, in 2022, deal activity we saw it began to bifurcate because banks were backing away from lending. you guys stepped in, but what do you think is behind this sudden rocket ship? >> the motivating force behind the growth of direct lending is that it works. no surprise really, in a competitive market-based world you have to have a solution that works for the people that count and there's two parties

involved. when i say that. you have the investors who have provided the capital to people like us and trusted us with the capital and they are earning a great risk-adjusted return. the reality is they have a very principal-stable safer place relative to risk bearing assets where they earn a strong inflation protected yield, so that's the capital providing and then in terms of the way we take that capital and deploy it. you have corporate users that are seeing value of knowing who their lender is. knowing who their capital partner is so in some ways, the past prologue for the future, no risk for depositors, it is we know the borrowers and they know us and we work together for the long-term. liz: in i'm an upper middle market company and i come to blue owl what am i paying you in interest for that money? >> you're getting a great bargain. so, here is what's happening in the bargain, and i'll say this very clearly. look, we certainly charge more, and our documents are loan

documents, the agreement we reach is more restrictive. it's more protective for us as a lender and our due diligence will be very deep, however we will offer you the three p's that we define in direct lending. predictability, privacy and partnership and i'll tell you that increasing to your point, if we go with the rocket ship. the rocket ship is fueled by the fact that more and more sophisticated users of capital are saying that's a great trade. those three p's are worth the price i pay. liz: i guess are financial watchdogs worried about the sudden excitement in all of this? you know, they sniff around and see that and they say wait a minute what are downsides here? >> so the beauty of private credit is there is no deposit or capital, there is no government backstop, no systemic risk. mind you the things that we do, the lending, we use one turn of levers. that is a one dollar of leverage for one dollar of equity in the loans we make. typical bank is 10:1. liz: you've done really

well with rates climbing. now rates are coming down. the fed is cutting. we know in about two weeks from tomorrow, i believe, we will start that november fed meeting. how does private credit do in a dropping rate environment? >> so private credit is designed to perform in a wide range of outcomes both in terms of economy and geopolitical risks which are very real right now, and also, interest rates. look we are a floating rate product. by design, we are to benefit people or protect people from movements in rates up and down. as you said, we're in the decline, but i don't know. time will tell. >> [closing bell ringing] liz: that is always the way that you can end a segment, great to have you. we really appreciate it. thank you very much. mark, that's going to do it for us. red on the screen today but it's a new day tomorrow. larry: hello folks welcome to kudlow i'm larry kudlow so with just 13 days left president

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