we'll hear from larry ellison once that call ends. kara swisher will tell us what she thinks the biggest risk to big tech is right now. first, to the biggest story outside of stocks today. bitcoin plunging again today's drop putting the crypto currency into bear market territory. seema mody breaks it all down for us >> reporter: this is hardly the crypto currency's first time experiencing a drop of 20% or more bitcoin has seen four such declines from a 52-week high in just the past year, including this month going back even further, bitcoin saw three separate declines, 40% or more from february of 2014 to the end of that year still, the worst decline occurred after the crypto currency first hit $1,000 in november 2013. it eventually fell below $200 in january 2015 that's a loss of over 80% of its value. now, bitcoin fell as much as 15% today, its biggest drop since january of this year since the beginning of the month, the crypto currency lost $23 billion in market cap. that's about the same market cap of best buy or cbs, big moves th

oprah winfrey, steve jobs, howard schultz, larry ellison, they were all poor and they moved up. david: and steve oprah winfrey, by the way, may be the democratic contender that donald trump goes up against next time? >> that's why the republicans got to stop using democrat language and use the language of growth like ronald reagan did. everyone gets a tax cut, consumers, middle class, people striving, rich, that's how you get investment, that's how you get consumer spending. reagan had it right. kennedy had it right. let's go that way. david: and it helps the poor, the middle class and the rich. all rise up. not bad if everybody gets rich. all eyes are on what football players are going to do tomorrow. if players keep kneeling down, is it time for the nfl stadiums to give those taxpayers dollars up? it's ok that everybody ignores me when i drive. it's fine, 'cause i get a safe driving bonus check every six months i'm accident-free. and i don't share it with mom. right, mom? right. safe driving bonus checks, only from allstate. switching to allstate is worth it. g new cars. from

one—stop to watch this friday is larry ellison's company oracle, reporting a 6.9% rise in quarterly revenuepush into the cloud seems to be paying off. joining us isjeremy cook, the chief economist from world first. thank you for coming in. let's talk about that north korea launch, because we saw that happen, and we didn't see much of a reaction from the markets. why is that? why are the markets. why is that? why are the markets. why is that? why are the markets not reacting when something of this nature happens? this is the fifth, sixth or possibly seventh missile test we have seen from north korea in the past two months or so. suddenly, we are getting bored of it. the rhetoric around it, it is not boring for people in south korea and japan, but the rhetoric around it has lessened a little bit. a month ago, he was talking about new king one, and we haven't heard the sabre rattling as loudly since. this is probably another missile test. if we were to see another nuclear test, and a missile test, the movement of the weapon and the delivery system within a short amount of time, the markets may

even when marc benioff left oracle and started salesforce, literally -- larry ellison was famously kickedff the board when he created a company that competed with salesforce. oracle bought salesforce. with the oracle brand, the platform that ellison controlled , it's really coming into its own. next bigxt -- the acquisition was a little bit controversial because ellison is part of both companies. what is the impact of that acquisition? cory: it's helping the cloud revenues grow. the netsuite is not the biggest part of the story. we will say -- see if they tell us anything on the conference call. but you also saw, interestingly, a slight pickup in gross margins. it shows me that the investment they made in the cloud, which was really expensive, is starting to tail off a little bit. you don't just see it in rmb. you see it -- in r&d. you see it in product sold. the investments are starting to roll over. we are not seen the costa of developing this new software quite as high. now they are starting to benefit from all of these applications that have been rebuilt from the cloud. it's working.

oprah winfrey, you know, steve jobs, a lot of them started out poor including larry ellison, right?> that's true but look i don't mind paying i'm sad to say on this program, the 35% rate whatever it is in london. it's nuts as your previous guest points out and then people just escape. the bigger thing is the complication because he says it's going to be one page but then he adds we're going to increase the child tax credit. we're going to create a new credit for non-child dependents. that's just going to make it more complicated. >> liz: that's more swamp stuff right? >> he says one thing but then he adds little goodies for everything else. >> liz: it's hard, trump is trying to thread the needle here he doesn't have the by party son coalition like moderates like reagan enjoyed but federal tax law aren't the only confusing taxes out there. you and i talked about the crazy state taxes we have in the u.s.. john look alabama charges a $ 0.10 tax on any pack of cards with fewer than 54 decks, arkansas you pay a tax if you get a tatoo and in california there is a tax a sales tax on fruit

when people listen to the real story, not the story outlined by mark hurt or stories outlined by larry ellisoned for and loved. >> used to be at oracle. >> and loved. >> people forget that. >> people will say you know why, why shouldn't i be in salesforce. >> how do you really feel about him? >> how do i know about him >> how do i feel i'm holding back i'm going to hold back. >> really. >> good choices, pete, clearly. >> sue herera has the latest headlines for us hi, sue. >> hi, scotty, indeed i do here's what's happening at this hour the national hurricane center says that hurricane maria has strengthened to a category 3 storm with winds of 120 miles per hour it's heading into the caribbeanch the eye is expected to move through the leeward islands later today and it is on the same path that would take it near many of the islands wrecked by him ark hurricane jose meanwhile is making his way up the atlantic, and while it's not expected to make landfall it's still affecting the atlantic seaboard. strong waves and rip tides keeping beach-goers out of the water along the new jersey shore. presiden

oracle larry ellison was poor as well.estor's parents worked as a plumber and a cafeteria worker. john paul, the man behind the hair care empire, he once lived on a foster home and in his car. so did author james cameron. ralph lauren was a clerk. the list goes on and on. you know what? don't you need more prosperity and growth to pay for democrats big government spending plans anyway? joining me now to react, former house oversight chairman, former utah congressman and fox news contributor jason chaffetz. do you disagree with anything i just said? >> no. well said. look, america's the land of the free. it's the land of opportunity. there's no guarantee of success. but you get this amazing opportunity by being an american. you essentially won the lottery by being here in the united states of america. but what you make it is up to you. and that sense of personal responsibility is what makes our country great. . liz: but the democrats have the american dream is about free handouts and taxing the rich and victimization. is it

. >> as promised we have oracle's earnings josh lipton, how did larry ellison's company do >> reporterorting eps of 62 cents versus expectations of 6 0 cents. revenue $9.2 billion the street models $9.03 billion. looking through the divisions here here, bill, total clad revenue up to $1.5 billion software licenses $966 million the biggest part of the software business, software license updates and product support, $4.95 billion. in a statement, ceo mark herd saying with software service revenue up 62%, our cloud applications business continues to grow more than twice as fast as sales force i'm going to be speaking to ceo mark herd in just a bit here to get his response to these results and i'll bring you that reaction first thing tomorrow morning. guys, back to you. >> josh, thank you. >> stephanie, was that a wow i heard from you >> cloud are real goly good. a bit distorted from accusations. the organic numbers. clearly that's going to have implications on the marmggins sd for the time being i was chuckling, they go after salesforce, salesforce goes after them the point, this is a gro

so was steve jobs, so was larry ellison, the rich and to prosperous don't do that at the, -- because get up, income mobility, you need to pay to pay for bernie sanders government spending. stuart: tax cuts will be really good and not listen to demagoguery from the left. wall street journal, editorial board. americans get richer. this article talks about how this year real median income, household percent 2% rose out of poverty, good news. >> great news, 5 years too late and we have nothing going forward that's going to meaning fully going to pick anything up. i don't see what's going to be driving wages specially with talk of small tax cut. stuart: what do you say scott martin, looks like that's a pretty good story to me, not exactly prosperity but things are looking up. >> yeah, better late than never. you have to start somewhere. if we get any tax cuts, that will push wages higher. a deal on taxation is a great deal for wages specially going to 2018. ashley: we need to go back to small businesses. they have been expanding and hiring and now rapidly expanding on capital expenditures