my view that the middle class and working families of this country should not have to subsidize miss the days i was the wealthiest person on earth because the wages he has paid his employees are so low on than many of them afford to go on food stamps medicaid and subsidized housing and other governmental programs today i want to give credit where credit is due. and i want to congratulate mr berry zones for doing exactly the right thing. in june to c.n.n. as to made that if the median worker's salary at amazon is twenty eight thousand dollars as the company claimed than amazon owner and c.e.o. jeff bezos makes that amount every nine seconds mr basis was named by forbes magazine as the world's richest man in twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bass those phones personally.

indian authorities have moved to legally declare a major national infrastructure builder insolvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company want the company law tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow wonder also known as i l n f s the action was taken under authority created by india's insolvency and banking code which only became law in two thousand and sixteen iola fasts has been a large and prominent participant in the is building boom. notably built in the is longest tunnel that shahani nationally tunnel which opened in two thousand and seventeen but throughout the month of september mounting financial problems that i l f s including several defaults began to worry investors and authorities on the

last friday and september the federal reserve bank of india met with i.f.'s as three biggest investors to press them to end the series of defaults now the government says iola finance finances were clearly mismanaged and restoring confidence in debt and capital markets is of utmost importance to that end they say the official serious fraud investigation office will open a case on this. and turning to china initial public offerings are i p o o's have increased by sixty five percent year over year again in value of roughly fifty billion dollars china's i.p.o.'s accounted for a third of all global public offerings in that same period and while the monetary value represents the third largest some on record the actual number of companies going public has decreased by seventy percent to one hundred forty five so far this year looking more closely technology related startups are a big contributor to the heat and activity on china's contemporary i.p.o.

seem industry observer renaissance capital noted ten tech startups by chinese companies in the third quarter of twenty eighteen and their most recent report and comparison for similar i.p.o.'s involving u.s. based firms occurred during that same period where it's also noted highlighted notable new names and recently entering the tech sector include by all means technology a maker of so-called smart appliances and l.a.x. a company that applies artificial intelligence to one with learning. i i i. and now i'm very pleased to be joined by stan club who is this c.e.o. and the founder of errors scott high tech drones the doing some cool thing to stand we're so pleased to have you with us welcome oh great to be here and give us the i don't know fifteen twenty thousand foot overview of what you're doing it yet so

we're block chain based drone services and media company we have a network of about fifty independent contractor drone pilots that are certified by the f.a.a. . we do jobs basically in the construction industry real estate and video production of the stand how is it being used in construction flying around construction projects what's it being used for we do the we do the. called music flights where we capture hundreds of photos of a particular job site and we do it on either a daily monthly or weekly basis based on the client needs and they get real time information and they can use it for future planning and showing you know to their customers and. and tell me about what you're doing on on real estate that sounded pretty exciting when we were talking earlier yeah real estate it's basically you know there's real estate agents buying drones and legally in the united states you have to be a certified remote pilot so we're going to real estate companies and saying you

have a network of pilots that can get your aerials and we're also building the software to verify the compliance of a particular photo or a video so we can look at you know the method data in a particular photo and say this is in proper airspace and attach waivers to an individual photo and basically make it compliant and certify that it isn't just for height restrictions except for what sort of compliance are we talking about there's a litany of about seven or eight things that the f.a.a. you can't fly over people you can't fly over cars four hundred feet limits and for each one of these restrictions there are basically waivers and so are unique proprietary software is what attaches waivers to individual media files and then we store all that when a transaction occurs on a block chain so you've got this network of drone pilots or around the country explain that we have about fifty mostly in the metropolitan areas in new york

city los angeles san francisco chicago and baltimore and then we have pilots that will fly out anywhere you need and we're growing that network all right if if you're making money if you're doing this commercially as a contractor or something as a drone pilot what sort of license do you need yeah you need what's called a part one o seven certificate and. and it's not a very difficult test but it's something that you need to be a commercial pilot and is there a lot of competition among these drone pilots there's about one hundred thousand certified remote pilots as of now that's a huge influx of pilots and there's a lot of single operators and aggregators out there and a lot of focus on certain verticals like agriculture or inspection work and so there's a lot about locations for drone technology you said how about competition in this

particular business space. using block chain and drone services or competition in the business sector not that i have heard of and stan we've got lots of start ups here at the forbes under thirty summit some have no money some of them have enough money some are never going to be profitable some are making it where are you in the process of raising money and then your endeavor well we're bootstrapping so right now we've been in existence for about a year working on the compliance software for about six months. and we're fund raising actively. we need to increase our sales because we see the opportunities out there and that's where we're at i've been asking this question here you seem like a visionary guy on this what is your vision for the future and in this space in the drone area i.e. i look at the industry right now like we're all still riding around in horses and

carriages and you know occasionally you see a car down the street and there's no stop lights or anything like that and that's where we're at in the drone space so helicopters and airplanes are normal things for us but when you see a drone everybody freezes you know some people who have security concerns and regardless of the fact the drones are terrible spying devices it's still that early in the industry but as we adopt it more. publicly there so many use cases for them but eventually in the next twenty years they'll become much more common i hope stan thank you so much that stan coerr is the c.e.o. and the founder of arizona's appreciated stand. good stuff from boston and now time for a quick break but stick around because when we return we take a look at how washington is being used in a number of spaces including real estate this is a good one won't want to miss it and as we go to break here are the numbers of the

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the. reason the bus. boys and. literature students are in the store. it's. what politicians do. do something to them. they put themselves on the line they did accept the reject. so when you want to be president. wanted. to go right to the press this is what the three of them if you could get. interested in the water. you know world of big partisan movies. and conspiracy it's time to wake up

to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bath shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks. welcome back if you've been thinking the pace of mergers and acquisitions has been quickening you're right but is that boom already about to bust the latest figures

from venerable business press outlets thomson reuters show a record setting m.n.a. activity level of three point three trillion dollars in total value so far in twenty eighteen that is a thirty nine percent increase from twenty seventeen and also the highest level since before the global financial crash of two thousand and eight as noted by the financial times of london another notable undersides of the m.n.a. mania is a drop off in the third quarter orders also notes a thirty. percent fall in any activity in q three of this year to seven hundred eighty three million dollars placing the drop off in the context of increasing global trade tensions particularly between the u.s. and china that seem to have scuttled a number of potential mergers by leading companies including united technologies and qualcomm. and turning to south asia a new report from the accounting firm price waters of pricewaterhouse coopers now branded as p w c finds that india is having a largely unheralded boom in mergers and acquisitions the report

a joint project of p w c and the confederation of indian industry cites official figures and reputed private analysts to conclude that the value of indian m.n.a. activity grew in the first quarter of fiscal year twenty nine nineteen at a rate ten times that of the same quarter in f y twenty zero twenty eighteen the authors also find that many activity has accounted for a full twenty nine percent of foreign direct investment in india over the past ten years two of the biggest notable indian mergers will be familiar to boom bust viewers last month warren buffett invested estimated five point three hundred fifty million dollars to take a reported three to four percent stake in india's online payment platform paty m. and in may u.s. retail giant wal-mart spent sixteen billion dollars to take a seventy seven percent stake in indian online retailer flipkart.

and we're back in boston here busting it out from the forbes under thirty summit and we're in a geodesic dome today it's raining outside but boy are there exciting things going on and one of the exciting things we have is we're joined by our friend christiane i have counterpart actually not only a finance crypto expert first of all have you been enjoying this it's been a great conference of fire yesterday we heard from a ton of great thought leaders as well as leaders from other industries as well we heard from will warren and will on the talking about decentralized exchanges and how all the challenges that they're trying to overcome within the entire kept us base saying that it's going to take a lot for there to be mass consensus and for the population to actually use crypto currency and so does hoarding as an asset it's really more of an asset now the something you can use you know sort of it's honored in daily commerce but ultimately you want to be able to use it like in a starbucks right salute right now i think the biggest challenge is that they

mentioned was the lack of standardize ation and the fact that there is no collaboration between the actual block start ups there right now there have to start at the start of each with their own ideas of how to build a block chain and creating their own blog but ultimately you're just creating another problem for us to standardize again so there's too many options right now and part of that you know i guess the criticism what you're saying kristie is that there's no conformity but conformity is about the last thing that a lot of these crypto folks want to do they want to be different they want to be disruptive so it takes a little bit for them to get into that mindset that in order to be long term they actually have to do some things that are more. than they might and let me ask you this you and i were speaking earlier not just about what's going on here own krypto in boston but about the other coast of san francisco there's an event going on there this has to do a little bit with what we talked about not too long. go on the program give us more on the yes so my partner is over at the repl swell conference right now in san

francisco where they just launched rabbit on october first for commercial use now so now it's widely available for all the banks and all the institutions to use they've been testing it with three test banks since may and they've been reporting savings out of the two forty to seventy percent over the stuff network and transactions that have took two to three days now take two minutes so this is why when we spoke about not wanting to go about how ripple it really shot up in value even overtaking easier is that still short of the mix do you think that that's going to continue that we we might see ripple actually sure past sort of longer term. i think right now it's more practical to use ripple ripples utility function has finally kicked in after a very long way either as a utility function is more so in a smart contract or right now because of the fact it's too slow it takes about twenty to thirty minutes sometimes for their contract to actually sell right now the practicality of this mass you just said is actually kind of low so that's why

in every day usage ripple is kind of better. and finally kristie what are you looking forward to coming up here in the last day or so the forbes under thirty summit in boston today is a day of excursions we have a lot of field trips outside of with a lot of the leaders here in boston so we have a trip to the t.d. garden to see how they're managing sports team and the latest technology training and sports team and management and how technology plays into the recovery time athletes and then we have another field trip into freight farms to see how urban farming is managing with the sustainable farming and restaurants and cookery and then we see a lot of trips out into dispensaries as well as another hackathon as well hosted by i can show you we met with a guy yesterday is actually a family fan of boom bust who's involved in the aca phone talk with him although he said it was. in a take from you know ten until after the show actually finishes but hopefully we'll have a chance to speak with them

a christie i have counterpart next thank you so much christie and now we have to watch more coming to you i checked this one out. and we're now joined by a couple oil executives from brick block which is a real estate based block chain system to make things real estate more efficient effective both for real estate owners in for finance sears and were joined by these two executives i had the pleasure of meeting a man well good solid as doura was the c.m.o. and by gonzalez sanchez slick who was the head of investor relations gentlemen welcome to all the boom busters out there about brick walk and what you're doing. yes so basically what we're doing right now that sets us apart is that we're providing the legal and the tech infrastructure for our real estate clients that's a really sets us apart from our competitors so we've done basically everything in-house from the code to the legal infrastructure marketing we build everything

also it really sets us apart is that we are going to have the first property on the block chain within the beginning of october so this is a commercial unit out of liverpool it is valued of six point nine million pounds and we're going to have three point three million pounds of it on the block chain to be tokenized so not only that are we doing assets but also what sets us apart is we have the flexibility to also do funds as well and we are also in this questions to do a large fund that is just a focus for german real estate so overall when i look at all of the competitors we are very far along to where we are and to us it's a pretty exciting ya know the thing very small in two dimensions that we have one point four billion worth of assets that are already in the pipeline and yeah we are going to say we are doing that with the european new york framework and yeah the federal supplier for. all of those in the same time one benefit that he's always important to mention is that we're bringing the very liquid markets. usually when

you invest in real so you need to hold for five ten years or twenty years the bending on the investment opportunity. that you're going to receive up to investing you're going to be able to trade right away from day one of course we're working with with a lot of regulators with banks are doing. very fine but your funds are coming from legal sources and. people are going to be able to diversify their portfolio invest in fractional ownership in different assets whether these funds. could be whatever you can think of it can be talking and we believe it's going to change the way they way that we invest. same way that they emailed it with the letters you know. we believe that you would be able to transfer ownership

in a very c. way you know the youth away and yeah should be should be in the future that i believe are very exciting and how do people actually invest using so they are calling these tokens. tokens now each token will be their own representing their own separate asset or fund so really what's going to look like it will have their own name recognition really what the investors are receiving are going to be that are becoming representing from these tokens and that's also what sets us apart we're not dealing with title exchange or nothing like that remains with the party that sets or the fund really this is all just. vehicle investment which. is are these denominated of the tokens denominated euro or how does that work not so basically that's a cool thing. the price of the token will depend on the market so people are selling and people are buying the are the ones the finding the tokens so you can

think of i stock exchange for very equal assets so yeah that's pretty much the equivalent to get a little specific on how does it work exactly if they receive a token and their real security will be hold by a bank by a custodian so that token he's actually representation also is kind of like a database and know that you understand who holds what and who's the owner of what and i tell you there are some k.-y. c.m.l. done before hand so i don't times you would know who is the owner of the share all of all of the silk and would be security building and where are these traded your platform some other crypto exchange where these tokens traded. we're creating our own exchange is going to be at the centralized exchange that we allow you to trade peer to peer but also we're in touch with the foreign exchanges sell securities and we're trying to find it out with them so that people we have more liquidity in these markets and for right now are you going to stick in the euro zone primarily

or what's your plan at the moment at the moment we're working only with the with european. with europe with the european market by in the future we're going to expand to other markets which are right now our main our biggest pipeline is germany u.k. we are building a pipeline in french also in scandinavia and central eastern countries as well but we also have a large pipeline in brazil and we are later on at the end of november going to be in hong kong to build a pipeline and that in that market as well that's also very interesting market to us guys we've spoken with people all the way from start ups who have no money they're operating on a wing and a prayer to people that are funded and make money where are you in the development cycle you've talked about moving forward in launching some things coming up soon but where are you exactly in that cycle. currently. we are. around fifteen million fourteen million euros. a few months ago five months ago

that was or they say oh it's seed round because we haven't even launched a product by we're going to be raising money again in q two why is because we want to conquer the whole the whole world face possible so we're trying we're trying to get different partnerships and different venture capital to work with us i know also to give us their knowledge and you know be able to get as much information from them as possible i love asking this question particularly here at the forbes under thirty summit what's your vision for this going forward yes i think that the first year our biggest focus right now is to have a good amount of examples of assets that we've done in the u.k. germany and then friends and then scandinavia those other regions right the first year is really going to be about really growing in the e.u. market little by little because us being in the e.u. gives us a huge advantage that we're so close to our clients right of center clients as well so i definitely see that within let's say five years i definitely see the e.u.

market being really healthy and then really expanding into latin america and asia as well and then possibly as well you know keeping a close eye on the u.s. market because that is an important market to us i mean it's a market that is very hungry for real estate investment so we are always close eyes to the u.s. market you want to get to the united states but of course the u.s. regulations are a little bit higher hurdle than other places particularly in the e.u. right yeah yeah there are hurdles i mean something that we can work though which is also something of interest is that we can tokenize u.s. based assets whether it is a u.s. based asset or a used base fund it's just that giving the regulations we cannot accept u.s. investors you know that is something that we can do one of the reasons we're also here is to also kind of build our network in that sense as well and the first week of november we are going to be in new york city as well speaking. at a real estate conference and also continuously building our pipeline there. there now was one thing that he supports information is our vision we want to create

a platform that allows you to invest all over the world so it will be we call a democrat they say show up investing so are allowing anyone whether you seem venezuela where you see in zimbabwe to invest in properties that give them passive income that he you know is stable and they can hedge their currency with this new kind of facet manwell goods all zooropa c m o n gonzalo sanchez the head of investor relations at bric bloc how exciting we sure appreciate you being with us thanks for sharing your story and good luck to you. that's it for this time we can always catch boom bust on direct t.v. channel three twenty one or dish network channel two eighty we're streaming twenty four seven on pluto t.v. channel one thirty two or as always catch a you tube dot com boom bust r t so long for now from boston.

this is. a church secret indeed priests accused of sexually abusing children can get away with it quite literally i like to call this the do graphic solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to a different spot were the previous standards not the highest ranks of the catholic church conceal the accused priests from the police and justice system to that end of that's known as the end i think you'll get it used.

it's felt. that's geysers financial survival they say money to develop. let's take it easy this is the central plank for diet that means kind of carbon right now so you stop . the way to the united states is dangerous for most of the illegal immigrants. cost of. simple i want to. run i want to ask you something about what if many of them look for refuge in the so-called sentry sides the drifter used to share information about undocumented migrants with federal authorities the best person to ask than call mom. i am at a best. western what that. they have or what are they options to stay in the country with donald trump in the white house. also if you.

have to do. a fifth. the pushkin political post will have you up to appear with all of them. join me every thursday on the alec simon show and i'll be speaking to us from the world of politics. i'm showbusiness i'll see you then. i live. by satellite. but other than. i thought i thought.

up our. civil war in africa's newest country claims that close to four hundred thousand lives according to a u.s. funded report prompting the question where has the initial support for south sudan gone also ahead. america's nato ambassadors scrambles to clarify herself after she threatened a washington that would take out russia's missile stockpile accusing moscow of violating a major cold war era treaty. trouble between empathy and law unfolds in italy as a pro refugee mayor is placed under house arrest for allegedly helping illegal immigrants. and of the people's republic of a.