but he says partly the result of the growth in the technology and biotech sectors where companies tend to lose money for years as they spend on customer acquisition and research and development but it also reflects the willingness of shareholders and deep pocketed private investors to keep fast growing up starts afloat long enough to conquer a potential winner take all market today's public tech companies generally earn more revenues than their dotcom era counterparts and could find it easier to flip the profits which once they reach a sufficient size of course that reminds me of when ben bernanke he said yeah we can print money for here to eternity and whatever you know as soon as inflation happens we could just flip a switch here they're doing it the opposite is they're hoping to destroy all the competition and once enough to competition is just so i thought just flip a switch and it be able to jack up their rates but by the time they destroy all the competition of course are going to destroy the jobs at the competition and therefore a lot of people won't be able to pay the higher rate jeff bezos is the model that

everyone is chasing a famous like earnings absent until he's flicked the switch and became the chilean dollar company are only going to take a break much more coming their way. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race based on often scary dramatic development the only really i'm going to lose is i don't see how that strategy will be successful very critical time time to sit down and tom. these we continue to discuss only about some amateurs of the maastricht. come back the six bonds and we don't we are not the book to give to the next generation and

reason for which to be proud to be utopian these is the reason all of us can. welcome back to the kaiser report imus gys are time now to turn to alina noah she is the co-founder of tres door welcome thank you let's talk about fraser for a second what is it so hard will it secure so you're bitcoin we don't you having to have an all each of security and creeps in and creating backups ok we'll get to that more about the second now we met at the first big coin conference the very first book on conference in prolog in twenty eleven and what brought you to that event and how did it change your life at that time i was studying diplomacy focused on international economy relationships let's say and i was writing

a thesis about international monetary system in the current imbalances that was shortly after the big crisis in two thousand and eight that was two thousand and ten eleven and i was researching let's systems in local currencies and is the are trying to look for an alternative way to create money that will be sound and i found out the corn and then you've been speaking at the at the conference so my friend just invited me say hey mike skies is going to be there so i thought that's very cool oh yes and we had a great time at that conference and twenty eleven a lot of people were there that went on to start businesses and your case treasurer and toshi labs and so getting more specific what inspired you to build trays or i think there's a bit of a story there as well correct well there is a story that there were some attempts to create a hard will it be for my team jumped on me by some german professor who never fail

to fail to do that and so my partner spiral in and monica it's a smart guy so felt like a why don't we try and basically hobby project back then. we did the crowdfunding on beat coin. that helped us do the basic r. and d. and development ship pip the first few thousands and then we took off as a company we set new standards for personal security rights just for people maybe enough really with the treasure or has become like the industry standard almost i mean people always talk about tres ours to become part of the argo of the crypto space but just walk through how it actually works as a piece of hardware and what happens is how does it work ok so it's an offline computer basically what it does is basically generates your private keesing a secure environment and then he signs transactions that's what he does and

supporters myriad of different currencies and so do use it to you just plug it into your computer prepare your transaction on the on the computer screen. or to to scientists or section of my thousands of you shipped i'm not telling that a lot out loud a lot a lot ok well let's move on you know people want to own because they learn about individual economic sovereignty is actually a very difficult thing to secure literally many mom and pop investors have been piling into purely for speculation. but what is your warning or advice on keeping these coins safe oh there's plenty there's plenty well first started off to purchasing any hardware wallet any any type you choose that's fairly now and then to stick by buy time and by users it's a good good way to start. if you happen to be one of the early beat corners or one of the big investors. i would probably advice to be quite it's about how much

cryptocurrency own. that sounds like you're in there but that's kind of like a general rule individual sovereignty what does that mean to you freedom three very phone for. i was born in chicago slovakia but it is a country spencer's a political turmoil yes and also from a very top heavy state level top down and this idea of individual sovereignty is done to sara lee it's hard for a lot of americans to accept. that they accept the fact that they would need individual sovereignty they do quite obviously but in other countries or maybe they used the case for this is even more of an obvious case it would you would you is there a can you comment on that. it may be true that you know you know the history where you grow up shape your views and you know opinions on life and for me

personally i prefer to be. responsible for my own stuff and not be babysit. companies governments so this is pretty much. the why i love bitcoin and why i love to currencies and walked into quality is because it's one way to achieve these kind of freedom it's interesting the way that because i'm has evolved in different countries for different reasons you know i'm thinking about venezuela and argentina there's a use case there because their currencies are in free fall in some countries where there's a more of a top heavy bureaucratic you know overlay of politically there's a need to have a more unique expression of individual sovereignty for some countries they're just out of the banking system clearly countries in africa they've been left out completely all these countries all over the world have found salvation in going for different reasons you're of course on the side of security and how has security of big point evolved and where is it going i think it's going towards more

usability so we see a lot of implementations where people just click next next next and that's that's how we try to design as are so. oh my mother eventually would be able to set it up and use it without having to understand because. we will see a lot of signature implementations to get a weak heart. out. you know i think just make all these technology all the security work in the background so we don't need to actually understand or see what's happening what about on the institutional level and for corporations you know they take a position that might be a billion dollars worth of state for example the states now that were once critical of bitcoin are nothing about buying bitcoin because they see it as a way to escape the u.s. dollar and the gemini that comes at the u.s. dollar is one of the security solutions for them is

a tryst or inappropriate can get a government put a billion dollars a big point of trust or. i would only say like you always choose the security set up that's appropriate to the purpose so if you need to made payments then tears are obviously is not a good good way to go because there's a requires you to actually push the button so for automated larch volume transaction for exchanges there are other solution using sim modules and so on. but if you are a fund or in big investor or corporation or whatever investing a lot of money just wanting to keep it safe there is a perfectly fine solution we've been keeping the companies krypto on my own private crypto on the terms or since day one. i remember hearing a story about the winklevoss twins over there at gemini talking about security of their big coin how they stripped the private key paper keys into two or three

pieces and deposit them in different safe deposit boxes in different locations our late friend matthew mellon also did something similar what do you think about that approach. oh it's great it's called. shared secrets what. i mean there's yeah bigger share of the gun than i don't know the order of the words. allows you to just take the private key and divide it in several p.c.'s and then you can say ok i will create three pieces and to recover the key i will only need two of the three any two of the three for example and that's probably good way to to distribute your keys on different locations than have just by you know acquiring the two p.c.'s putting all the all the private key together what's your take on the reaction from the old guard the

warren buffett charlie munger paul krugman the old economist nouriel roubini they've really come out and with critical comments on big going and and they're really trying to talk it down what's your take on the word what does a come from work one of the statements or any basis for. first of all there's a lot of people who really believe in the current system and i've been working for banking in finance for ten years before crypto. and when i was leaving it my the c.e.o. of the insurance company i worked for he was extremely skeptical and he was making kind of oh we will be fun. and there's these people who worked and lived there didn't really believe that the system works and we should have bailouts and we should have quantity fees ing and we should have all these things. and eventually they also changed their mind. the people that you mentioned probably are having big

interesting in keeping the status quo because they have billions and trillions of dollars of interest in in the current system so obviously they will not praise be quite what's the status right now with women encrypt them so round the world you've got entrepreneurs coming into the space startups all over the all over the world many are women what is the story with women. here's what i want to ask you a question. as a woman. my belief is that the initiation of big going through the genesis block was a very male oriented process. these scaling issues that bitcoin needs to now bacillus a. gauge to grow is a uniquely female attribute that women are naturally natural networkers and big coin needs to grow the network therefore i think the leadership a big point in crypto will now be passed to women and women will now lead this

revolution to where it has to go your thoughts on what i just said. i think you're probably right to a certain extent. i think you know when you look at the washing machine it's probably invented by a man but then adopted by women because they have the neat when you look at south korea and the adoption of bitcoin there there's a lot like basically most of most of the conversions and investments in crypto are done by women well i daresay that for example you know japan though mrs watson abi who's the woman who's buying and selling for x. all day long and is moving those markets i mean once she gets to decrypt on a big wave she already is this is having an impact and the technologist if i'm thinking i'm thinking about you know the. mit lab and start for example is leading a lightning network so i mean this seems to me to be the next generation this is

where things are going what do you think that's a fair statement well see well see i'm not really into this topic in particular because i always say between these permission list so whoever wants to jump in and feels like he can participate in being something of his or her qualities in their free to do in house doing that scenes yes stacy early days are works at o.g.h. she was with us she spoke at the two thousand and eleven prague conference and you know she's been. building stuff and doing stuff and so the next. five years for your company where do you see that going it's not my company anymore and left and so it's all show ups but we're still. very very good friends. they just released a new model. and i think that will be a game changer once everyone realizes what is going on there. because the next step is to actually allow a lot of people a lot of developers to create any security applications on top of or using the

terms or hardware will it and you can imagine secure messaging. right encrypting every keystroke of your computer you can imagine secure you know sharing of documents and crippin of security protocols to messaging and documents and other things it is a universal or general purpose security device that just encrypts anything it supports several curves so you can basically use it to. my word wedding chocolate chip cookie recipe to keep them out of the hands of the culture so absolutely yeah if you do and they for your cookies yes you'll be totally safe. thank you for protecting my cookies actually before we go tell us about your foundation ok i'm launching a foundation that's called cold blue called emblem dot com. which is thirty

k.t. to support research and development on top of bitcoin and by day i mean supporting basic product calls developing like mean that board developing r.g.b. protocol and all these new things that are coming very excited about i'm trying to pull smart people from this space people that i value that have done. a lot of good stuff and that they know they're knowledgeable to be able to help new projects with their advice with contacts and so on and of course i'm looking for money so every switching in feels like he wants to throw in the fuel be quite as from his early investments and help help contributing to the space. ok i was asked by the name of code blue bloom so put the name of that underneath the so you'll see it and the title they can figure that out well thank you so much for bringing the guy's report thank you well that's it for this edition of the guys report with me nice guys are stacey herbert want to thank our special guest alina there are no book co-founder

of jazz or a no with the foundation code blue what you can see underneath there what that's all about you can catch us on twitter account as a report by oh. i have. not be. paid. by then coffee session. by then is a shift that long. to not spend. more. money so it.

can be most of it was if you have the multiple injuries among company to soak them for keeps a few books but shows you're mars on the phone to the. people because people from bill say your. book. my. continent i'm not. allowed to. be something to walk. down the something. else and just. look ma. maybe i meant i think forty. fifty years ago breaking with into a concert gun as

a sleeping pill does this is what i mean because i just said this thought the side effects were terrible but not on the road as shown in dodge one for boardwalk more to hear not the warm welcome of across europe victims are starting legal battles demanding at least some compensation in two ways first will the physical damage itself as well there's a constant reminder that the people who actually perpetrated this crime has never been able to justice and there's been a couple of. funny enough when i need to find the right only show no it's not me let me. know. what. you know to let me know you're coming from. or not just up on your own or not know me. or think

what i got up at stony. the headlines another day another diplomatic one eighty from donald trump the u.s. president now says the historic summit with north korea's kim jong might be back after all despite pulling out shortly after becoming raised its nuclear site. and now everything is being turned into a massive cloud of dust r.t.u. was there to witness how north korea made good on that pledge to the u.s. . the world's red hot topics iran north korea and u.s. sanctions are discussed on stage by vladimir putin. and other world leaders have

the st petersburg international economic forum. and israel's supreme court greenlights the continued use of lethal military force against an army. in the gaza strip. you know head over to our web site for more on those stories we will be back with your world news update in about an hour's time with my colleague nic and right now though it is time for cross talk stay with us. lou and welcome across her considered i'm peter summit are no summit that's the question north korea's threat of a no show in singapore on june twelfth is a reminder to washington that north korea will not merely cave to american demands

or should i say john bolton's demands if there's going to be an agreement it's going to take time and patience to the americans of the north koreans have enough of either. crosstalk in the upcoming summit i'm joined by my guest kevin martin in washington he's president of peace action and peace action education fund as well as coordinator of the korea peace network also in washington we have jenny town she is managing editor of thirty eight north and in boston we cross. he is an assistant professor at baruch college city university of new york and a specialist on career and asian affairs or across like rules in effect that means you can jump in anytime you want i always appreciate jamie lynn jenny let me go to you first here do you think there's still going to be a summit or are we just get in the preamble process of you know everybody's kind of

feeling everyone out and finding out what the lay of the land because i think would be cable stations in the us tend to overreact to all kinds of things go ahead jenny . and they mean they definitely overreact and the fact that we haven't heard this coming from concerned than himself i would assume that some of this and the process is still moving and that we should expect it to happen but i think it is a reminder that you know there are obligations on all sides of the north koreans are not simply as you said not simply just going to do things unilaterally they do expect or it's a break aisha and it will take time and they're not interested in a model especially the libyan model where you know it ended up with the position of deposing. and so this idea too is that you know they also expect to have reset recall actions along the way not simply at the end of a process and i think you know that needs to be taken into account even in the messaging as we move forward you know kevin more or less the same question to you

because again i think a lot of nuance is lacking in the coverage of this very very important story is that the perception is that the north koreans and there's preconditions like surrender give up. all of your weapons your program and then we can talk now any rational person that has and the understand of international relations and diplomacy which unfortunately is terribly lacking at times and washington knows that it's a tit for tat it's a learning process you have to start learning to trust each other that's step one go ahead kevin well and i think it's important to remember that the most important president in this process is president moon of korea not president trump of the united states it's always all about trump right everything is always all about trump except this isn't president moon is not only trying to bring about peace and diplomacy on the peninsula he's trying to reclaim more independence and sovereignty in a relationship with the polar world superpower and so far he's been doing it extremely

deftly and i think we should be looking to that meeting here in washington on may twenty second between trump and moon as a very important step in setting the stage for later talks including this time between trump and kim ok let's go to go to boston professor i mean more or less the same question again to you here i mean with the added county out is how much is american domestic politics playing in this because again if you look at the mainstream media the liberal media they have a hard time. digesting this story that trump could be part of a peace making world historic event here they're very hesitant i mean i make gnostic i'm a peace ok and i don't care who gets you there ok but that's not the case in american domestic politics go ahead professor in boston. right as you pointed out here in the united states particularly in the mainstream news media don't want to give credit to president trump they're simply a case. as any pointed out important thing is that the statement you know

criticizing john bolton or even canceling the summit meeting came from directly from. from counterpart diploma you know john bolton in the past. so that's that's kind of individual statement highlighted that the north korean government officially still is very much interested in the coming summit meeting with the president i think that's the case ok jenny what do you think that the first steps are going to be because unfortunately and maybe this is because of the bolton effective and just the perceptions of north korea in general you know the end result is a nuclear free peninsula i think that's the oil to make goal but that's going to take a long time to get there stationing of american troops in the south so far the north has not really put a whole lot of demands on that but we know that that will probably be part of the

process as well i mean what we know is some of this coming up in singapore it's not going to decide everything it might start the process of deciding something and i think that's the way it should be looked at go ahead jim. yes i think it you're exactly right it is that you know this summit is not a one off it's not supposed to solve all of the problems there's only so much you can do in a one day meeting at a high level meeting you're not going to get into the details and this is been part of the problem is that this isn't necessarily how the u.s. does diplomacy and so it's been a very uncomfortable and very uncertain process along the way normally that would come after you've already negotiated all the details yet rather than setting the mandate and the objectives of what has to be in a deal so i think you know there's a lot here that is very uncertain i think there's been very bad expectation management along the way coming from both the u.s. as well as the south korean government raising expectations too high and i think

you know along this way we have to understand that there's a lot that comes out in public messaging that isn't necessarily what's being talked about behind closed doors because it is a negotiation and neither side is going to publicly publicly talk about the full range of things where there is room for negotiation because obviously they're not going to show their hand so i think we need to keep perspective keep our expectations realistic as to what we expect to see and yes there might be some concrete moves made at the beginning hopefully there are some you know very clear objectives of what has to be included in a deal and then it gets passed down to the negotiators to actually work out the details of the very good point you know kevin. decided to pull out of the iran deal if you if you look at his reasoning it had nothing to do with the deal itself the i.a.e.a. . gave a clean bill of health to turan and everything he talked about was other things

than if we could use the analogy of a basket you want to put more eggs in the basket human rights all these things here do you fear that this is what the political class is going to do. to be a spoiler because you know we can all speculate what john bolton's role in this is we don't know he hasn't been in the job very long ok but i mean i worry that these extra things will be added ok regime change the type of regime of the type of system that's going to be that's going to solve our everything we should be very focused on one thing and that might maybe just might be doable kevan well i don't think this role is going to be positive or good and certainly people that have studied this issue know that he helped to scuttle the last agreement that was negotiated under the clinton administration the agreed framework when he was in the bush administration i have to say though that the recent protest by the north korean government the u.s.

south korean war exercises makes all the sense in the world for them to have complained why in the world we have to do these twice a year the largest military exercises in the world we're not sure that our stuff is going to work what are my tax dollars paying for and the fact that it was reported that the f. twenty two b. fifty two were used of course it looks to north korea like a practice for an invasion or a decapitation strike so part of the problem is the united states has no humility we're the number one superpower the war machine runs on autopilot if we have these planes ready to fly these military exercises we're going to do and eat our dust and the like and that just doesn't set a good tone for diplomacy and i think when you had the great thaw with the olympic truce and at first north korea not complaining about the war exercises the earlier version of the war exercises that was an astonishing concession by them and then we have to rub their nose in it by saying ok well now these air force exercises are.