sec.aimondo: i think we will. i think we will. i have had numerous conversations with people on capitol hill, and there is bipartisan support for the bill. maybe not all of the bill and all aspects of it, but i think there is a growing recognition that we have kicked the can long enough, and there is a backlog of infrastructure in every state in america. and i think this will be the moment. and the president is determined. so, you know, that helps. david: the president has two types of infrastructure. traditionally, infrastructure is bridges, airports, toll roads, and so forth, and he has that in the first part of his infrastructure bill. he has a second part, the caring part, which deals with elderly care, child care, kindergarten, pre-kindergarten, and so forth. why did he do it that way, and are people confused when he calls things relating to people infrastructure? sec. raimondo: yes. people are confused. i think he did the right thing. i think investments in the care economy and in th

sec. raimondo: call it old-fashioned, but the president thinks we ought to pay for our investments, just as any family would. you have to pay the bill. you can't put everything on the credit card and not pay it. the rescue package was an emergency. there were lives on the line, we have to get the vaccine out, had to meet the needs of the pandemic. that was a crisis, an emergency response, and so he felt it was appropriate to push for that. these investments, he feels very strongly, ought to be paid for. his proposal is to go ahead and raise taxes on companies. he has been very clear. his red line is, no one making less than $400,000 a year will see a penny of their taxes increase. and, by the way, i think it's responsible. we can afford it. businesses -- you know better than i do. there were dozens and dozens of very profitable, multibillion dollar companies last year that paid nothing in taxes. closing those loopholes and using that money to invest in infrastructure is a good investment.

sec. psaki: ok. a couple of updates for you at the top. after the president is briefed by his covid-19 response team this afternoon, he will speak to the american people about the strong progress the country has made in recovery, because of its robust vaccination campaign. as well as the importance of every eligible american getting vaccinated, especially as the delta variant continues to grow among unvaccinated people across the country. by the end of the week, the u.s. will be nearing 160 million people fully vaccinated. which is critically important, as fully vaccinated people are protected against the delta variant. he stressed how the administration shall continue efforts to get americans vaccinated to make vaccines available and respond to hotspots. the president will outline five areas his team is focused on to get more americans vaccinated. one, targeted by community door-to-door outreach to get remaining americans vaccinated to ensure they have the information they need on how bot

sec. levine: thank you, pleasure to be here. karine: wonderful to have you here when we need to understand so much more. there was a change in guidance this week from cdc resulting from new science about the delta virus including maxing -- masking for people who are vaccinated. what is the plan behind that change? asst. sec. levine: we know and have been discussing for months that the delta variant is different. the delta variant has been shown to be more transmissible. it is at least twice as contagious as previous forms of covid-19 we have seen at approximately two months ago, the delta variant was 1% or 2% of the percent of covid-19 cases we were sitting in the united states. now it is more than 80% of the cases we are seeing. so, because of this more contagious variant, cdc has changed its guidance, in terms of masking. it is recommending if you live in an area with moderate to high spread, community spread of covid-19, that when you're in public, you wear a mask. frances: so that is t

sec. cardona: that is incorrect. >> those who remember seventh grade biology taught there were only -- were taught there were only two genders in the human species. sec. cardona: this is another example where a demonstrates a lack of confidence in our educators to be able to meet our students where they are and welcome them into the school environments that are free of discrimination and harassment. going back to my opening comments, what i heard was there once students -- schools that embrace them. that is what i am going to stand behind 100%. title ix reinforces that. the students i speak to in school today respect that and appreciate that and they want that from their educators and leaders. >> preventing a student from using an opposite sex bathroom would compensate -- would constitute harassment. can you explain how schools are going to stop male students from claiming the identify as female just to access the girls restroom? do schools have the ability to challenge a students profess

the sec is essentially a disclosure agency.hile they are not putting an edict saying no chinese companies can list in the united states, they are saying if they are things that u.s. investors need to know about risks in china that don't exist elsewhere, or how these companies are structured -- for example, a lot of them use shell companies because the government does not allow certain industries to have firms listed abroad or taken foreign money. if that is not clear to investors in the united states through the disclosure statement or registration statement, sec will not sign off on those going forward. what you have today is a clear response from the sec to what we have seen over the past several weeks and months happening in china. certainly, what we saw last year, here in the u.s., more scrutiny over the chinese, and whether they were complying with requirements here in the u.s.. jon: as much as the focus is on with the sec is up to, how much pressure is coming from capitol hill specifically? ben: starting last year, we rea

sec.fraid we are not. good morning. nice to be with you. this is a real problem. we are seeing improvements. just yesterday, i had a call with a number of executives in the auto industry. it is certainly better than it was, and i expect it will continue to get better with each month as we move further away from the disruptions caused by the pandemic, but fundamentally, the only way to solve this problem is that we need to make more semiconductors in america. there's a bill working its way through the house right now, which is a $52 billion investment in the semiconductor industry, and that is absolutely essential in order for us to solve this problem for the long run. the mentally, we just have a lack of supply. we don't make any leading edge semiconductor chips in america, so we have to stimulate that production. alix: --david: that $52 billion bill is working its way through congress. that's assume that gets done. what you said if we need to make them in america. does that include overse

emily: the sec cracks down. u.s. regulators halt initial public offerings of chinese companies. plus one of the world's guest bitcoin bulls joins us. his company's stake in coin now gains $1.4 billion. this is more investors plow money into the crypto ecosystem. guests will tell us how they are putting their new crypto fund to work. and go puff closes a $1 billion funding round and a $15 million valuation. we'll talk about the need for delivery as covid cases continue to spike. first let a look at the markets. big tech giving investors some concerns today. >> who knew one earnings story contains the entire market and that's what happened with amazon earnings. you did see their net forecast missed from the first quarter. from small caps all the way to big tech, read on the screen. it had everything to do with consumer sentiment. he searches the spending slowdown which is an indication that amazon earnings give. i want to show you the spillover effect because it did hit other stops as well. remember, amazon is an e-commerce growth company. alibaba as well did not do so well. deali

sec. time is very limited. i don't mean to interrupt but i want to be clear about something you said. are you saying there hasn't been a dramatic surge in the border crossings and unaccompanied children is that your position? >> that is not my position.is please allow me to finish my answer. we are seeing the recidivism under title 42 and individuals are being expelled more than once. number two cited the fact that 6,000 unaccompanied children were in custody back in march. we are seeing only a fraction of that n now because we had a plan then. it takes time to execute and we have executed and the number is far different. further, the smuggling drugs, the greatest means of the transportation across the border are three points of entry. in vehicles that can try to move large amounts and we are apprehending more than before. this began in october of last year because of theen investment in technology and the focus on the ports of entry. we continue the work of the prior administration in tha

chief among these is whether the sec has the authority to regulate a particular instrument. currently the sec evaluates crypto sales through the lens of a test known as the howie test which evaluates whether an instrument qualifies as an investment contract for the purposes of the securities act. while the sec has applied securities regulation to dozens of initial coin offerings based on the howie test. there is still a lack of clarity as to whether it applies to a number of crypto transactions that currently do not comply with sec registration and disclosure obligations. in addition a number of exchanges that offer trading in crypto including those that meet the definition of a security do not register with the sec. given this there is a strong need to establish a clear sufficient and appropriate regulatory framework for cryptocurrency. i turn now to the issue of systemic risk. as discussed the value of the cryptocurrency market is estimated to possibly exceed two trillion dollars and it is characterized by very high levels of price volatility. additionally estimates are th

sec. walsh: i think we will. 850,000 jobs gained in one month is a really solid number. we have seen more people looking for work. we are seeing growth in hospitality, leisure, restaurants. it shows president biden's economic plan is working. the american rescue plan, the investment in his vaccine program. we just need to continue to get people vaccinated and continue to build confidence and get more people back to work. jon: some republican governors think this plan isn't working. what do you think happens when the additional unemployment insurance expires in september? sec. walsh: i think what we are seeing is in those states that have been threatening to cut back unemployment insurance or where they have, we are not seeing any additional people going into the jobs market. the numbers don't take that. but i think i the time september comes around, when the unemployment rate extra benefit expires, we are seeing it now. in the last five months, he's averaged 600,000 new jobs per month. as

emily: you used to work at the sec. a top robinhood executive was a former sec commissioner. robinhood does have this regulatory expertise on the inside. from your perspective, has that helped? do you see that vigilance they need? >> i know dan. he is a great guy. he is a very good lawyer. i think it is a benefit to robinhood to have somebody with that experience and track record in institutional -- track record, an institutional knowledge of the sec involved cared i think with time -- involved. with time, they will bring more resources on. they will learn from past discretions. -- past indiscretions. they will improve business operations and achieve i assume a higher level of compliance. going public, that will all be laid bare in a much more transparent basis. robinhood like any other publicly traded filing company has to file financial statements, audit financials on an annual basis, needs to disclose events like wrigley torrey actions if it is deemed to be material to the business operations of the company. as you indicated, need to disclose executive compensation and sha

sec. raimondo: thank you, jen. thank you, jen. good afternoon, everybody. so, as the president often says, and as we all know, we're on the road to recovery. and today with this announcement we mark a real step forward in that recovery. as jen just said, the president signed the american rescue plan into law, intended to get our country back on its feet and thanks to that law, i'm thrilled right now to be announcing the launch of a transformative $3 billion economic development initiative. that will be running out of the department of commerce. i'm even more excited to say that starting today, this afternoon, every community in america can begin applying for that funding. we believe that this is the largest local economic development initiative that the commerce department has ever made. and it's a testament to the president's commitment to do far more than simply recover, but to build back better and make sure every community and every american is included in our comeback. everybody ought

sec. buttigieg: our tools are imperfect.e dealing with a country-based framework for assessing risk when, in a perfect world, we would know all the information we need to have for a traveler based framework. we can move in that direction somewhat. that is more refined and ultimately more accurate. but we don't have the toolkit to do that in a way that would be as smooth as we would want. we are going to continue to have a strategy led by public health authorities, guided by homeland security, cdc, my department at the table, to reopen travel as quickly as we responsibly can. jonathan: forgive me for jumping in. just allow me to get this stock -- this thought in. i need you to understand that i am talking about working people in this country who are working here legally. with the stroke of a pen, you can enable thousands of people in this country who work legally and pay taxes to return home to loved ones. you can do that by making it equal treatment for people with an h1b, l1, green card. that's not difficult. that is not a

sec.yes. it is a tragic era in our history, in american history. the boarding school era, i think about it as sort of one of the last-ditch efforts to get native americans out of their communities, and put them into mainstream society. after genocide, after the killing off of vast numbers of native folks, so folks could take their land. and it was tragic. after everything else that happened as well, you know they took indians from their communities and their families, so they could indoctrinate them, right? to take away their clothing. to brutally you know, take weather languages and their cultures. and many children, yes, they never made it back home. i am grateful that my grandparents made it back home. i would not be here today if they had not, of course. and so, this is a history that all of us need to know about, so that we can begin a healing process for the families, who are still living with that generational trauma of the boarding school era, of the assimilation era, of all of tha

and the chairman of the sec wants to police it.going to cause the cost of capital to go down. if we do that, it's win-win for everybody but that small group of incumbents who are getting rich off of retail traders >> dennis, we've got to go now but thanks so much for joining us >> thanks for having kelliher. >> we reached out to robinhood. >> we will decline to comment due to limitations on communications by the sec ipo process. >> i get what you're saying, guy. things never being better for the retail trader. at the same time, that's not an excuse to examine these issues once again and to try to further level the playing field. otherwise, we would have been halted at the progress we made five years ago or ten years ago. every point be in time we said it's never been better. >> understand, it's never been better >> right yes, sure. >> i think there are other things i understand i'll say it flat out i'm not an apologist bob explained this two weeks ago. there are two sides to both stories. i think there are other issues to be concer

the sec has stopped processing registrations of u.s. ipos and other sales of securities by chinese companies while at kraft's new guidance for disclosing to investors the risk of a new regulatory crackdown by beijing. that is the story of the last hour. kailey: the post-didi saga continues. the drama that has unfolded since then is really quite remarkable. it still has not stopped. we also got news out of china this morning that they are going to root out some of what they call illegalities in the ride-hailing sector, the kind of monopoly power there. that is really weighing on didi and premarket trading. the adrs of some other companies are really under pressure because it is unclear what this regulatory environment looks like right now. jonathan: didi down by 5.9% in early trading now. lisa: geoff yu really interesting yesterday on china, and how they perhaps were not expecting as severe, good response. given the response this morning, i wonder what their message was and how much they will double down on some of the regulatory curbs o

sec. secrety buttigieg and following that, the energyne program as the panl discussion with three experts from the business and labor community to talk about how to realize this vision of a clean energy transition. so, welcome. hi'm having a hard time kicking the mayor pete habit. thank you for being with us. here i want to talk a little bit about the bipartisan infrastructure plan and talk about the unique role in the energy future and then chat a littleev bit about politics. to get us going, infrastructure investment is the best idea that never happened. it feels like we are pretty close. are we going to get it done? give us a sense of how to pull this off. >> thanks for having me. i think we can get it done. i think we have to get it done and one of the reasons i am excited to join you is this is rtan actual bipartisan policy coming out of washington. this isn't something thatt we sy very often but we know that there is bipartisan consciousnesss. and that's why e were able to get to the

sec. psaki: i do not have an agenda for you. i'd have anything more than cyber and expert level meetings. we are not going to read out the agenda. >> is the president frustrated -- sec. psaki: the meeting with the russian president was just a couple of weeks ago and we have had ongoing meetings pretty much since that point, and again there is another meeting scheduled for next week. >> there was a discussion of eight summit meeting and the idea was to give some leaders -- get some leaders together. is the president interested in something like that? would he be willing to take part in a discussion like that, to discuss the rules of the road and about the current tensions in the west and the east? sec. psaki: i don't have anything to preview for you quite yet. there are a range of engagements we have the number of the p5 countries which will certainly continue, but in terms of a meeting like that, i don't have anything to preview for you. i don't think we are quite at that point in the plan

sec.orkas i present 21 candidates representing 16 countries who have all applied to be citizens of the u.s.. each candidate has been interviewed by officer -- by an officer and exhibited the ability to read, write, and speak words in the english thing which. each has deb -- in the english language. each has demonstrated knowledge of the history and form of government of the united states. secretary may orchids, i recommend these candidates meet -- sec. mayorkas, i recommend these candidates by -- be administered the oath of allegiance, thereby admitting them to the united states. >> please raise your right hand as we swear the oath of allegiance. please, repeat after me. i hereby declare on oath that i absolutely and entirely renounce and abjure all allegiance and fidelity to any foreign prince, potentate, state or sovereignty of whom or which i have heretofore been a subject or citizen, that i will support and defend the constitution and laws of the united states of america against all en

commissioner says if sec craft as standard it could be hard for us to get objective input.ny sec rules she said can create money making the opportunities and make this a particularly lucrative area which could worsen conflicts instead of resolving them. great to how far the discussion will continue thank you. >>> final thoughts coming up >>> final thoughts coming up next it's yet over-delivers.ing seamlessly intersect. unde, it is truly the mercedes-benz of sports sedans. visit your local mercedes-benz dealer today for exceptional lease and financing offers. only 6% of us retail businesses have a black owner. that needs to change. so, i did something. i created a black business accelerator at amazon. and now we have a program that's dedicated to making tomorrow a better day for black businesses. ♪ ♪ i am tiffany. and this is just the beginning. ♪ ♪ ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot wor

this isn't just prosecutors, there is a parallel sec complaint on criminal insecurities charges.ly: how is nicola actually doing now, and how are they responding? ed: the company has scaled back its ambitions after trevor milton resigned last september. it is making slow progress toward them. i am hearing from sources that they might get to a battery electric truck. they are the prototype phase. they are building a factory in arizona but as yet, not ready to generate anything. they have some big partners, but they are still quite far away. emily: ed ludlow, we appreciate your reporting. keep us posted. a disappointing debut for robinhood's ipo with ceo vlad tenev calling the experience humbling. >> it is really humbling that six years after we launched our products to the public, we have over 22 million customers and are on this journey with our customers, and allowing them to participate in the offering. ♪ emily: welcome back to "bloomberg technology." i want to get back to the days market moves, including one of this year's biggest ipo's, robinhood hitting the nasdaq. pretty go

sec., we will start with you. gary: the cmo and i work closely every day, literally. i yield to the secretary. we are providing the options, we have to look at the structure of dhs, see if we are doing at the most impactful way. i would offer that the collaboration where he and i worked together -- i have never met a more innovative doctor, the work he is doing, and i thought that he brings has been refreshing. we are moving forward on a number of programs under his leadership. we went from0 to 60 after he got here, ended up vaccinating 75,000 of our front-line workforce so they could perform their duties without the threat of catching the covid virus. if i could, i was hoping i could take a step back from the bio surveillance piece, offer something on that. rep. demings: if you could hold off for just a second. director currie, i would love to hear your thoughts on moving the position of cmo to another unit within dhs. christopher: i don't have a strong position either way. i think the ro

more on the new sec requirements for chinese listing firms.rg. ♪ ritika: this is "bloomberg markets." i'm ritika gupta, live in the support room -- in the principal room. coming up, steven rendle, viad corp -- vf corp ceo. this is bloomberg. dani: the securities and exchange commission is requiring additional disclosures from chinese firms looking to go public in the u.s. in a statement today, chair gary gensler says, "i worry that average investors may not realize they hold stock in a shell company rather than a china-based operating company." let's get more into this now. joining us is bloomberg's tom mackenzie and nathan dean, bloomberg intelligence senior analyst. nathan, i want to start on the comments from gary gensler, saying he's worried about investors, but this conveniently comes after a lot of action from the china side. is it fair to say this is a tit-for-tat responding to what china has done? nathan: i would say this is just an additional step in a long process that has been going on for at least the last two years now. scrutiny o

is a commissioner on the federal communications commission and has served as general counsel of the sec, as lead advisor to chairman pai on wireless issues and is an attorney in the fcc general counsel's office. before joining the commission he practiced appellate and telecommunications law at wiley rye. he graduated from the catholic university law school and clerked for a judge on the u.s. court of appeals on the fourth circuit. daniel francis is a foreman fellow at the new york university school of law where he writes about constitutional law, competition law, and antitrust. he previously served as a deputy director, associate director, and senior counsel at the federal trade commission, where he focused on antitrust enforcement in digital markets. for 10 years he practiced antitrust with two multinational firms. he holds law degrees from trinity college cambridge, from harvard law school, and from nyu. paul watkins is the managing director of potomac global partners. he focuses on regulatory issues involving financial technology. mr. walken's founder the office of innovation at the

everybody pours over the big sec filings.here was a blog post from and talking about the idea of disclosure and maybe we are getting too much of it from these companies. maybe that is causing trouble for investors. joe: took up this chart. they just want to tell you more and more and more. this is the number of words. crystal, right? 20,000 words in a filing. 40,000 must be really good. romaine: that looks le chart of the day. joe: joining us with more insight is professor of finance at nyu. professor, investing should be easy. we have all these words now. what is the catch? >> i think we lost the distinction between data and information. it is all become data dumps. in a sense, it is deliberate. i will confess at the end of the week and because i confessed it, it is off the table. the way that companies can disclose so much will give them the license to behave badly. romaine: how much it of it is the companies complying with the rules and how much is it them trying to cover their bases for a lack of a better word? >> i think

>> the sec is part of the equation because under donald trump and carried on by joe biden is the threator punitive damage on the u.s. markets if chinese companies that come into the crosshairs do not reveal their audit papers if they are asked to do so. many chinese companies who face the scrutiny from the sec say we cannot do that because of chinese national security laws. so this is, again, a battle of geopolitics and control that affects global markets. this is a global story, not just a china story. >> steve engle on all things dd. >> we're talking about samsung earnings this morning. they top the bolus estimates of 53% job -- topped the bullish estimates with a 53% jump in profit. this is bloomberg. ♪ [laughter] -- ♪ >> welcome back. three hours. samsung came out with its earnings. 53% jump from a your back. sophie is joining us right now. it looks like those results are better, even the most bullish of forecasts out there. sophie: someone reported operating profit of 12.5 trillion yuan, more than one billion it then analyst estimates. upside call was listed by state home activitie

the sec has filed civil charges against milton. milton has pled not guilty. to a much more electrifying story, ford raising its profit outlook, also managed to dodge speed bumps incurred due to the semiconductor shortage. the stock moving higher by 4% right now and, get this, preorders for ford's all-electric f-150 pickup truck really lighting up. since may when ceo jim farley broke the news right here on "can the claman countdown" that ford already had 70,000 orders, reservations are now topping 120,000. people want that lightning truck. they're calling it the beast. investors, though, hitting the brakes on uber. the right hater is slipping on -- hailer is slipping on reports that softbank is in the process of selling a chunk of shares to help cover losses incurred by rival -- the well, it's not really a rival, but didi. the chinese ride-hail app, which is actually moving higher today by 10%, has crateredded the past couple of days in the wake of china's regulatory crackdown on the u.s.-listed companies. uber's down about 2.9%. and didi is refuting rumors th

i know having run one of these agencies, there is a conflict between the fed and the occ, or sec andc. because of that, it is hard to get clarity. if you look at the united kingdom where there is basically a single regulator for the entire financial system, it's a lot easier to get clarity. over here, you have competition among agencies. there is overlap in jurisdiction. i will say we are not as far behind as people might think. at the end of the last administration, all the major regulators, myself included, got together on the president's working group and started providing clarity on certain crypto assets. i think that is an example of how our regulatory system can adapt the fall regulators work together. joe: let me ask you a question about decentralized finance and so forth. are some of these de facto equities and trading as such? brian: it is hard to say. there are certainly decentralized exchanges that are selling crypto tokens without the intermediary broker. some crypto tokens are securities and some are not classified as securities. it depends on what is being traded. the m

they have wanted to go public but they were waiting on the sec who finally green let them. i do not want to put you -- lit them. matt: i don't want to put you on the spot because i know how difficult it is to be on live tv and read through documents at the same time. i will round up the headlines we see right now across the bloomberg. i think one of the interesting things is robinhood has reported a profit for 2020. it actually earned $7 billion in 2020, on revenue of $959 million, which is not a huge margin but better than the loss you may have imagined for compais young. i'm sure a lot of the companies that you cover, katie, when you are typically on the west coast are posting multimillion dollar if not billion dollar losses. the revenue growth has been extraordinary. 959 million dollars in 2020 versus $278 million in 2019. part of that will be a pandemic aspect, but also, this is a company with incredible growth. does that growth continue, especially with all of the customer service issues that robinhood has had, its website sometimes simply stopping working -- for stops

some offerings might qualify as security, in which case you would be regulated by the sec. the ftc takes the position that certain products involving crypto currency -- cryptocurrency qualify as derivatives and are regulated as derivatives. but there is a lot of questions in this area and the industry is very fast-moving. you have entrepreneurs thinking about financial technology, thinking about democratizing financial technology, a very powerful movement. the real challenge for regulators is keeping up with innovation. because things the sec might be looking at today are innovations that happened six months ago. staying in front of that is the challenge for our government. peter: sam sabin? sam: i'm going to keep the ball rolling with cryptocurrency. companies end up paying a ransom in bitcoin and another crip currency. the -- another cryptocurrency. the fbi was able to seize test e half of the $4.4 billion colonial paid as ransom. that doesn't usually happen. what were the circumstances that led to this? sujit: first of all, great work by the fbi. the fbi has been priorit

bloomberg broke this story in september of last year, that the sec was investigating nikola.milton has had no day-to-day response ability since that point, even though he remains the single largest shareholder. they did issue a statement saying these charges are about trevor milton, not about nikola, and they say they have cooperated with authority through that time. but at the time we were that story in june 2020, there was a tweet trevor milton made countering the reporting. but according to the indictment, he actually texted executives and board members to say that his tweets were supportive of the stock after it had fallen after that reporting. so he was really paying close attention to that. dani: thanks so much for staying on top of this for us. that is our ed ludlow. we also have another headline coming out from robinhood, now indicated to open up 38 dollars six cents -- open at $38.06. it was priced at $38. we will be speaking with robinhood's ceo on his company's debut on the nasdaq. that is next. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating

either some priorities that jump right out at you in terms of the sec's oversight? >> one of the key issues is the sec's overall authority which is in jeopardy at the moment because of the field to classify voice over ip as the title ii service and the classification of broadband is a title ii service. we are on track to see fcc's oversight of wireline key medications in this country completely disappear within the next five to ten years as traditional copper networks are retired. that needs to be corrected. >> again, mr. feld, participation in the disaster information reporting system is voluntary for providers and only collects data about outages at certain times and certain criteria that have to be met. the network outage reporting system only requires reporting of longer outages impacting a certain number of people as well. while participation is mandatory for voice providers, it is not mandatory for broadband providers. plus, information isn't available to the public. my question to you is how can regular collection of data about a broader array of both sunny d

the real challenge for regulators is keeping up with that innovation because the things that the seclooking at today are innovations that happened six months ago or a year ago, staying in front of that is what i think is very much the challenge for our government now. >> host: sam sabin, time for two were questions. >> awesome. i'm going to keep the ball rolling with crypto currency. the reason we're asking is so many companies into paying a ransom in bitcoin or another crypto currency. we briefly mention that the fbi was able to seize maybe half of the $4.4 million colonial paid to cyber criminals in ransom. by justin is that doesn't normally happen so i'm curious with her back when if you walk us through what were some of the circumstances that led to this? >> guest: first of all it was a great work by the fbi. the fbi has been prioritizing crypto currency enforcement issues over the last several months. this isn't something that just happened one fine morning. this is something the fbi has put resources into, has trained agents, , has developed partnerships with the private sector

though, anticipated -- few, though, anticipated this gray swan surprise attack by china, and now today sec commissioner gary gensler is announcing that all chinese companies seeking to list here in the will have to disclose to investors the regulatory risks coming out of beijing. on the cusp of august, let's get to the floor show traders. larry shover and tom hayes. tom, okay, crystal ball exercise here, indulge me. what unexpected event might we see in august, and what are you buying ahead of that? >> yeah, well, i think the big gray swan that everyone is looking at, liz, are the delta variant accelerating, although we saw it both in the u.k. and india after 45 and 50 days respectively, they seem like they might be peaking. but the other one that very few people are looking at is the possibility of an iran deal which would put a lot of new oil on the market, and that might rattle the credit market. so those are low probability events. we're still seeing earnings estimates going up materially from 213 to 217 for 2022 just this week alone. so we're generally positive, but we do want to get

. >> i think at this point when you see the sec for for action, we don't know where this will end.ing more and more cautious large state-backed chinese chip makers have not fallen and increasing their value where this is the chip maker it is difficult where the government evolves investment in other places where soft bank starts to hurt and makes up for the win in these. >> for the sec, bytedance founder seeing these deserve the reset as they'll move forward. as you move on from owe ryon and more capping the 300 million. tech cap back in two ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday. what do you mean? it makes it easier to develop great relationships with our suppliers. now everyone, everywhere loves jerry. they sure do. t