thank you very much >>> joining me to discuss the impact of the ought only a small businesses is kevin o'learynd investor in more than 30 small businesses. kevin, welcome tell me, you've got a front row seat to this, just how important facebook is to this community. how important is it? >> you know, facebook has been so consistent for so long that we never even worry about outages like this. it was pretty material because you have to understand that in america even though it is -- we're doing more facebook bashing now, and i understand why that happens and it seems to happen every six or seven months they're always being investigated but the truth is that facebook runs small business in america more than 50 cents of every dollar spent in small business, which is about 66% of the economy and two-thirds of where small jobs are created in america, is spent on facebook for a bunch of reasons one is geo locking of advertising. if i am a veterinarian or food services business and, let's say, pick any city in the midwest or something, i don't want to advertise past 200 miles of where i am because i d

morgan, institutional, or not allocating more towards bitcoin, than gold, with investors like kevin o'leary, saying that his crypto holdings now outweigh the allocation of gold in his own portfolio. so it's really nice to see the institutional finally starting to appreciate that point as a store of value. bitcoin bowls, how long? how did it as a hedge against inflation? and that topic is now more relevant than ever as enormous stimulus packages have kind of increased the global money supply. so again, unlike the dollar, bitcoin and other criptos cannot be valued by a government or any central bank distributing too much of that. and that's why big coin is the only currency that is not controlled by any central authority and the supply is limited so that they can only be ever 21000000 bit coins in exist. peter, nowhere did you have the problem with thinking that big point is a store or value or inflation hedges, because big quite has absolutely no value to store. it has no relative price in relation to real commodities or other assets. yes, big client has gone up the goal, but so a lot of oth

that's good. >> look at that. >> all right thanks, kevin o'leary. we'll do this again.y is standing by. the numbers, please >> yes, becky a. bit of a mix. we are expecting a number of 1.6 million seasonally an leads units. we end up with 1,55,000. a slight revision that puts it down a little over 1.5%. if we look at permits, also a miss expecting a number close to 1.7 million. we ended up close to 1.6 1 million 589,000, a settled down revision on last month. but that put it down on permits. determines is what we were counting on. we know there was a back lolg, there are issues, whether it's labor or materials and price up what close to 20% year over year in permits a dump in terms of start, we know there are issues between single family and multi-family in the end, maybe interest rates, which haven't crept up could be a part of the picture still historically low, short maturities are coming down if yield, up in price a bit wie do know we touched 43, 44 basis points that was close to a 20-month high, basically around the beginning of covid whereas the longer maturitys, a

>> like i say, scott, time will tell, but i'm really concerned i know my friend kevin o'leary would be concerned because he's a real guy that focuses in on these various esg metrics and when you can or cannot invest in some of these stocks this may be a do not touch stock for a while until they prove to people these allegations or either false or until they put in real measures to stop anything like this in the future i got to believe there's a lot of endowments and institutional investors that will just not touch the stock even if it gets very attractive on a drop because they'll have to justify it to their shareholders or to their universities or various endowments >> stock down greater than 5% as we're talking about it doc, bear with me for a second shannon, it's not a huge position for you, but you have ownership in it. will it become a smaller position than it is in terms of your book? >> well, right now, i think we're slightly overweight to the benchmark and i don't know that i would necessarily adhere i think it's an important point though that if you think about what we're endu

dn't even think about kevin o'leary. [ laughter ] they didn't even acknowledge him. i thought it was way too little for what i bring, anyway. [ laughs ] that's -- that's great. here i am jim "the news with shepard smith" starts now >>> when the lies keep piling up and up, it can all come crashing down i'm shepard smith. this is "the news" on cnbc a company collapses. nearly overnight ozy media shutting its doors after explosive reporting from the "new york times" and cnbc. >> this was not like a casual impulsive deception. this was a lot of work >> tonight inside the web of alleged lies and deception that took the company down. >>> a promising new pill for the recently infected. >> these results really just blew expectations out of the water. >> merck announcing its therapy by capsule cuts the risk of hospitalization and death by 50%. but when will the treatment be approved >>> coaches fired. games canceled the national women's soccer league struggling to respond to accusations of players being emotionally abused and coerced into sex >>> forging a global coalition to

facebook shareholder kevin o'leary defending the key role that facebook plays for so many companies. >> the truth is that facebook runs small business in america more than 50 cents of every dollar spent in small business, which is about 66% of the economy. facebook is the backbone of small business in america. >> but many small businesses who saw traffic halt yesterday are now looking for other ways to build relationships with their customers. speech pathologist brooke dwyer and her sister sell online speech development courses their website gets more than a quarter of its traffic from instagram. >> we have put so much time and effort and content and hours into instagram to think that it could just all go away like that in a second was, you know, a big thing for us it definitely made us think, hmm, okay, maybe we should become more active on other platforms. >> the outage cost facebook an estimated $60 million in revenue and that's all from ads that weren't delivered. shep, the breadth of the impact of facebook's outage does raise some questions about whether small businesses can be

jonathan bailey, it's all your fault, jonathan, kidding and kevin o'leary, investor and venture capitalistanker headed to sprain, all the way to g gibbraltar the other it was about coal. if china, it's gotten so bad that they've turned off the traffic lights can you imagine, because they don't have enough coal is there any doubt in your mind, o'leary, this has to do with woke esg investing >> not at all. but you don't have to go as far as china to see what happens when you under invest in high ro carbon infrastructure. go north to canada, sex years ago, trudeau got the mandate, he shut down the carbon industry and having them purchase the pipeline from the west where there was an abundance of oil to the east where there is none today in the eastern provinces of canada, they have no oil. they have to import it from countries that don't pay any carbon taxes and those stips go ships go up and kasdz on the east coast have nothing. today they've realized this is a disaster an unmitigated disaster. because the canadians imposed a huge carbon tax and have no energy in winter for the eastern provi