all of the money that is needed to develop it and i want to say in the last minute here that we also have seen the emergence of a lot of micro entrepreneurs who are coming up with little like micro solar panels on your rooftop in order to power your own little electric items needed in your house because many people are still without power and there there is a new movement to use the national utility grid now as a backup and for the future because there will be bigger and bigger hurricanes and this was the biggest hurricane to hit since the one thousand nine hundred twenty s. early one nine hundred thirty s. that you should take care of yourself essentially they should have your own energy sovereignty we need some micro grids we need a mesh sort of network so that you are never reliant on a centralized grid again it's a quick question that will go to the brick the energy needs that you're talking about there the way that they're geographically spread out it sounds like a her kilian task to bridge that gap there's tremendous entrepreneurial energy now

on the island in new view stacey is the the wave of outsiders coming in now are they maybe thinking a little bit with rose colored glasses in terms of what's possible given the immense infrastructure needs on the island or what you think well there are some outsiders coming in and yes they have fantasies and many of them have a lot of money but there are indigenous local people born or raised here who are also in the article points out they are the ones that humanly walk down the road went to these locations went to homes and introduce the solar panels so that so these are puerto ricans local puerto ricans there entrepreneurs as well and they're introducing options it's up to whether or not. you know that the fiscal control board will allow these sort of things to happen right now by the way the oversight board has actually taken the energy grid off the creditor list they're not allowed to seize it then. i'll have to take these at the at the moment all right well

something will get very close attention so that's going to be time for a little bit of a break now so don't go away stay right there. kristen trump's hiring and firing practices are still surprising the recent appointments of mike pump alun john bolton have left an impression on friends and foes alike watching him play too late of on american politics. well you know the cars they were kind of adopted because we were called pirates for so long. i mean they're in the small boats next to the harpoon ships and it's.

sometimes. the little self the big fish already ninety percent of the dot and bone that conner. con to fifteen scoops seventy five tons they do it several times a day with a clean collar you get an idea of why. we have to understand we can all stay still and just. be with them this will be used be only going to use our arms. i'm doing this because i want them for the future world to future generations to have and enjoy the ocean we have.

time about e-mail bag of the entire you might even want to get. them but again. and again and i mean i my mom come on to me and i knew god. needed to be. in the mood to handle a dead give him a belief just like images to see so if you want. to. know by love and actually get to be me i succeeded beyond city because the. case is a romance and it comes to cable you chase oh wow.

welcome back to the kaiser report imax keyser time now to turn to entrepreneur michael turpin michael welcome to the kaiser report glad to be here it's great to have you on we actually we've known each other for more than twenty years right and you've been in the hot spots in technology one finds michael turpin and that goes back to the dot com era and now we're in the crypto era and you've really carved out an interesting space and place yourself here in quite a rico you were i guess kind of the first guy to come down here and stake your claim and you could say and so tell us a little bit before we get into the crypt space what drew you to puerto rico and why what's happening with that michael so i've always been someone who looks at fairness and about you know how to you know do something that will will will help myself my family and so i move from california to nevada right before i sold mark

where my last company because it was crazy to be spending forty percent more taxes if i was living there for a global company rather than the data and when i started getting very deeply involved in the currency starting transform groups the top p.r. firm in that area and advisory all the sudden i'm working with companies and i give some as get paid in coin or in some of the other tokens like we launched the theory i'm and i'm seeing at the end of two thousand and fifteen the start of the trade the price is just skyrocketing and so almost i'm not worried now about the vat of tax i'm worried about long term and short term particular short term capital gains just thirty nine percent and puerto rico i heard from a friend of mine who is the investment banker who is selling i.p.o.'s in china and he's barely in the u.s. i'm still paying fifty three percent taxes because he had a home in california and so i look to puerto rico i told my wife. if about it she'd only seen west side story and not the truth and she said i guess i can maybe do

a little time in tax prison and they can peel it away from her she that's right and you know a lot of hedge funds guys have moved down here before you did even you have john paul saying it. let me just introduce this idea because the way you describe it it sounds very dry that you know there's a tax benefit to moving down here and that's part of the entrepreneurial mix is you've got to look at your entire picture and maximize wherever you can but there's a huge ancillary impact for the crypto community coming to puerto rico it's twofold right there's one is the local community is now getting to five and you can talk about that a little bit and then you're bringing in a lot of expertise and a lot of young talent a lot of fresh talent and that's adding to the mix so can you talk a little bit about the the vision thing it's become a positive petri dish so when i first came down here in early twenty sixty and people were barely understanding how this could become a technology town much less the first time i spoke at

a conference here which is the port of the puerto rico investment summit i asked people in the government about how you treat watching the ants was what is a block when i held my first point of gen the caribbean conference last year the same person i asked what is a block chain actually spoke and talked about the benefits of block chain which they do treat here as being services rather than software and they're both foreperson will get into that a little bit tax and nothing to the iraq's if you provide the product down here but with the watch chain it's open source so you don't own the ip and that's one of the definitions of software were so this software is a service you know michael i sense a crypto space got going different countries and territories that advertise themselves are trying to position themselves as the quote switzerland of crypto and they want to be the greatest regulation they want to have the greatest of the. minix cetera and i'm you know here for the first time myself and i've been to isle

of man i've been to switzerland i've been to various european countries i've been to these places that say hey we want to be the crypt of switzerland you know this place really could be the crypt of switzerland it's got everything across the board what are your thoughts on that i'm a big proponent of that and i'm very encouraged with what wyoming did wyoming just had a unanimous legislature approval and the government signed an act to say that utility tokens which is most of what the i.c.a.o. phenomena comprises is a new asset class that is exempt from securities and money transmission and the courts will decide whether wyoming legislation trumps regulation but they're pretty adam of the day and they want to go into other territories and i've got nothing but you know open arms from the people i've talked to in puerto rico as will help the island we bring jobs here very open attitude about how can we go in first and foremost how do we keep our kids from like graduating and having to go to the mainline because they can't find

a job here that's going to pay good wages generations coming up actually says that they could be part of building this new generation and it could be. as you say a petri dish and a really growth story now you mentioned ice yos and regulators for a second you know it's interesting is that this if d.c. thinks calls crypto commodity the f.c.c. thinks it's a security. fence and i think it's saying it's money right so every regulator thinks they see themselves and right and that they need to be a part of the regulatory mix how do you see that unfolding because it's having a real impact that's undeniable yes so a house and in fact the i.c.a.o. market and how will it impact more broadly its impact in the i.c.a.o. market particularly the last couple weeks in sort of a feeding frenzy of fear. because basically a lot of the lawyers have been saying do this do this another go. maybe you can't do this and that and at the moment i'm hearing people advise just do

a public offering which means you become a penny stock and that doesn't seem like the innovation or they just say block all americans i don't think that's going to be something that lasts forever i think i'm very encouraged by what wyoming is doing and if a judge just backs them like you know the f.c.c. been saying all this stuff looks like c curious to us a judge actually said the cryptocurrency is a commodity it's not the us to say we're all mean it's a security am a commodity and you know another judge in florida and some of the bitcoin is not money so the courts are going to have to decide in the meantime people are afraid and so they're either blocking us or they're coming up with you know hacks a little talking detainee about you know how a lot of times you have to go and find a positive act of you hacking is a good thing in many cases and i think one of the hacks is you simply go and you invest in a funder of a syndicate that's offshore and that's how it's an american citizen you still get to you know take your rights as a credit investor to be able to go invest in what you've researched game theory for

a second marriage for you're a seasoned entrepreneur this game of cat and mouse with regulators is part and parcel with the entrepreneurial world steve jobs got to start with the phone phreak are breaking the law you know most entrepreneurs are skating the edge of the law that's a kind of introduce a category and they hope that that their product will redefine the category and that the law will be changed you know they see this on wall street all the time so in the area of tripped out i can understand the regulators are you know they have they have a vested interest don't think they represent a long standing financial services business and they really are in their service you could argue but will a territory or a country break ranks and say you know what we are going to be that crypto location and we're going to attract those jobs and are you playing a little game like that michel you know you're kind of a deal. most of the dean in this in this space too far off where you think i've

been called the i.c.a.o. godfather one network but now you're not far off and i sort of learned a lesson way early in my career in the ninety's when one of the things that i did as a side project before the free market where was i co-founded something called direct i.p.o. and it was myself a stock broker and we decided to like start going and disrupting wall street by letting people do direct public offerings of internet companies and we started the same day as with capital and with capital and the client was a securities lawyer we employed securities lawyers our entire funding went to a big law firm who told us no no no it's too risky he did the exact same things yes c.c. called them in and they gave the exemptions he sold the company for several hundred million dollars we basically went on to do something else after we spent all the money side aside i was not going to make that mistake in this field so i talked to a lot of lawyers and i look at a lot of different jurisdictions but when i started been angels in two thousand and thirteen one of our charters was fine friendly jurisdictions malta is

a great jurisdiction aristos these amount of second places that ever was going to move to but in asia when korea and china clamp down were just guess where really is singapore and here people are going to bahamas they're going to be the guy they're going to cayman but they would much rather come to puerto rico and pay four percent just like they go to switzerland instead of you know it's euro tax jurisdiction that maybe is not the place they want to live or operator or such clarity like they pay six percent in switzerland and i think that they will pay four percent and you could get a billion dollars of i.c.'s coming into puerto rico if there's a little bit more clarity and they kind of follow the wyoming lead all right let's dig into some technicalities here and i want to spend a long time on this but i think it is interesting to actually act these are some of the minutia you encounter when you make decide to make a move like this can you kind of a. cap's lane in a minute the difference between the two just i just find this interesting michael

just kind of brush on the tour so i'm not a lawyer or an account and i used to about him in desmond's of video there's a lot of great folks down here who know their stuff so act twenty two is the one that is for individuals for investors every year they made a little bit tougher. and that's been sort of as the numbers have grown that's sort of the way of making the bar and free a little bit higher in the beginning i believe it was fifty dollars to apply and five hundred dollars to get in once and they saw that investors were also bringing their secretaries their mistresses and that's not who they wanted to get the grants so the year that i got in it was seven hundred fifty to apply and then five thousand dollar one time now it's also a five thousand dollars contribution to charity which we give way more than that to charity in puerto rico every year anyway and perhaps the talk is maybe it's going to be an annual contribution but you want to have people involved in the island you want to have people you can't live here without wanting to help the people may jump

in first thing because i was that event here a lot twenty three and it's a crypto incubator beat up and people were talking about them actually act twenty this that i talk to a lawyer i talk to account i get totally different answers from different people in their information and it's tough to come by like a real definitive answer what is what can people do you say in an account not a lawyer but is there there must be a resource to guide folks on solid footing as they as they contemplate that kind of a move down here right you know you have to talk to people and get referrals and quite engender we do have a panel on at twenty and twenty two got actually. who was the secretary who wrote the law who passed the law and i've got. that i've got the head of didio and so folks like that are going to be able to answer the questions there was just something this morning here but really come on down so. if you like the island right are you going to run i seriously thirty seconds what is it some quote in john

this our fifth year it's the it's the goldman sachs conference for corrupt all because goldman sachs won't do it so it's bringing investors from around the world to look at opportunities in the space and to talk about the legal and regulatory and the trends and this is our second year doing in puerto rico right michael sarver diceman kaiser report thank you all right well that's going to do it for this edition of the kaiser report with me max foster is thinking about like they are guest michael turpin if you don't catch us on twitter it's kaiser report that on. twenty eighteen coverage we've signed one of the greatest killed people but there was one more question and by the way it's going to be our coach. guys i know you are nervous he's a huge star and the huge amount of pressure you have to go to the center of the

beach with l.b.j. and do the great the great good you are the rock at the back nobody gets past you we need you to get the ball in the way let's go. alone and doesn't want to you know and i'm really happy to join for the two thousand and three of the world cup in russia. this special one was also appreciate me to just let the reader be on the team's latest edition to make it up as we go so i need to just look at. this bridge for a single. this. supermini. they start training very young. eight months of intensive school.

rats. and they save lives. how does it feel to be a share of the greatest job in the world it's as close to being a king as any job there is one business model helps to run a prison now we just do it on like i said you know radio visitation i don't know what comes in to them or we don't have to serve them anymore it's cost effective that's what they want to do that as long as they don't give a damn if you do the charge on that they're actually paying us to put it back into the louisiana incarceration rate is twice as high as the u.s.n. breach what she could is behind such success.

which is you can't pass the rights to the policeman exposed to a nerve agent in the script poisoning incident commanding the officers bravery in calling for cooperation with britain and examining the case. you can bust a gate is read the offices of the political consulting john cambridge on a little over a major data breach that standard facebook in hot water. and the police officer dies and his injuries following friday's terror attack in the south of france bring the number of fatalities to four he's being hailed as a national hero for swapping places with one of the supermarket off.

just at midnight here in moscow good morning for me kevin zero in things are joining us for this latest live didn't eat update from r.t. international first russia's ambassador to the u.k. is written to the policeman who was exposed to a nerve agent in the english city of souls bre following the poisoning of a former spy and his daughter with more details artie's madeira chewed. the letter to detective sergeant nick bailey thanking him for his actions following the poisoning it extended moscow's best wishes and voiced hope the officer will make a full recovery and be able to return to a normal life as soon as possible it went on to express sincere gratitude for his bravery and an assurance that russia had nothing to do with this reckless incident the investigation is ongoing and the o.p.c. w. the organization for the prohibition of chemical weapons continues to investigate we've also heard from the head of the secret ministry of defense lab important down you know we've got the highest levels of controls of security. around the work that

we do here we would not be a low top three if we had lack of control that could result in anything leaving the four walls of our facility here the russian embassy has reacted to his comments saying that they amount to admission that the secret facility is a place where new components of military grade poisons are being researched and developed and that most notably mr ater the head did not deny the existence of chemical weapons stocks referring to the disputed possible sources of the nerve agent in question moscow has openly condemned the attempted murders as an act of terrorism and denied any involvement despite that though it seems relations between the two countries are continuing to deteriorate and the situation doesn't look likely to get better anytime soon british pm to raise in may has rallied to a european counterparts calling for a united front against russia the strike russia poses respects no borders this is the fastest time to get a hold of against the russian strains we want to cool did meet our reactions which

we will now to detail once the coordination is ready but we both germany and france agree that those reactions will be necessary in addition to the recalling of the ambassador. it's an act of aggression against. security in the sovereignty of an allied country which is still a member of the european union at present a man calls for a reaction the russian ambassador to the has now been summoned and told a decision will apparently be made on monday with regards to what actions will be taken against moscow if any we have different positions different. interests. about different traditions. political landscape in europe to russia and this is why it's not so easy. to be. grouped.

together from moscow standpoint several attempts have been made to work together with the british authorities firstly following the incident that russia says it's tried a number of times to ask for a joint investigation secondly moscow says that it's requested a sample of the nerve agent again so that it can assist the u.k.'s investigation and russia has now also set up its own inquiry but how this will pan out is still unclear is no investigation can be completed without crucial information from u.k. authorities so what next for those of us watching this saga unfold all we do know is that this investigation into the perpetrators and sort of the nerve agent is going to take some time and in the meantime we can only watch to see who makes the next move. another story in the u.k. british investigators have raided the premises of the political consulting firm cambridge analytic or over a major data breach scandal the company is known for having worked with donald

trump's election team in twenty sixteen and is under investigation for allegedly mining the data of some fifty million social media accounts in fact the scandals also put pressure now big time on facebook with u.s. lawmakers calling for c.e.o. mark zuckerberg to testify before congress in germany to facebook representatives have already been summoned to face questions over the data breach. for a long time we've had the impression that unless you apply a lot of pressure nothing happens within facebook and obviously they try to run the business with a minimum of resources and any issues raised over social responsibility i'm not welcomed with a lot of enthusiasm or at least that's the impression i get. followed somebody hurting facebook already billionaire tech entrepreneur elon musk has deleted his personal page on those for his space x. and tesla car benches will exhibit to julian assange also lashed out at the social network on twitter others doing the same too with the hash tag delete facebook trend then on the late edition of artes online series in case you missed it good

new show from polly boy is the plug she gives a road satirical take on the cambridge scandal. in case you missed it on the sacrificial alter this week is cambridge on alyssa casts. carry on alicia scavenged information from millions of space but profiled and told the highest bases that they could use it to target votes is the don't call or behind don't chop brags it was a lot of praying at up they've been paying more attention to your facebook profile than the sweaty shakey guy in the office you can't get enough of your photos from our florida getaway back in two thousand and fourteen of course back it turned twelve the use of data to win elections was innovative in twenty eighteen is evil that has something changed cambridge analytic it is based in britain a country where interfering in the elections is a gentlemanly pursuit if there is little enterprises based as in the western world

would be sanctioning russian oxygen by now. only route you know group who was russian. do you think you voted based on a crashing economy immigration inequality or corrupt politicians learn facebook made you do it these sinister motives of targeting voters are unique in the history of politics that it is a global role political t.v. and election post i'm bored titian's you coddle babies and newspapers and human sprit. news just in we're getting reports of an election that has actually been won because voters listened to the issues and made an informed decision take it away we're not reading break news here goddamn it so what can you do while the founder of north sam has gone on twitter to tell us too much time to

delete facebook but there are all the result of social networks to tell us what to do. next on the situation in syria's war stricken eastern ghouta russia's defense ministry says almost five thousand militants along with their families have been given safe passage out of the region and sent a rebel held it live province in the north the deal was brokered by moscow will help bring the remaining insurgent pockets under syrian government control these pictures were filmed by ruptly of video agency and they show buses preparing to evacuate some of the fighters will be a scalded to italy by the syrian army meantime as bashar al assad's government retakes control of eastern ghouta over one hundred six thousand civilians have also been able to flee the carnage and devastation there here's how some of described life in that embattled region. i'm at work very well up didn't want some of that as go first we suffered so much that we would have left

a long time ago but we simply couldn't while the militants shooting at you yes as a said they made us suffer a lot we were there for a long time and could not leave everything was very expensive the would do whenever they wanted to us. once a day and we were receiving very little of the food which had been sent to us and now i get that but i was playing football and i didn't realize what happened at first then i found myself in this condition that had. a fourth person has died as a result of friday's terrorism in southern france in which a gunman hijacked a car and took hostages at a supermarket in a small town attack a pledged allegiance to islamic state and was eventually shot dead by special forces it's since been reported that a friend of the perpetrator is now also been detained in connection with the atrocity the latest victim is a police officer lieutenant colonel are not. being labeled a hero tonight for volunteering to swap places with a female hostage he managed to leave

a mobile phone on for the authorities when he was inside that supermarket when they heard gunfire that's when the police went in there they discovered trauma been shot he succumbed to his injuries on saturday morning this is how the tragedy unfolded on friday let's take a track of it the gunmen hijacked a car on the outskirts of the town of around tel in the morning shooting dead one passenger and seriously injuring the driver shortly afterwards he opened fire on a group of police officers who were out jogging wounding one of the shoulder the gunman then drove to the nearby town of treb where the storm the supermarket we just spoke about and killed two civilians in a police officer here's what one eyewitness saw. pleasure the movie i went shopping with my wife and sister in law after some time we had an explosion well several well you seem a bit i saw a man lying on the floor and another person who was very agitated with a handgun in one hand and a knife in the other yelling allahu akbar.