it sounds like a spac, it looks a bit like a spac. is it a spac deco -- spac?t in the sense of the connotations you think in america. these vehicles over the past few years have received medical -- media interest. but the reality is we align with investors, there is no free shares, no redemption rights and no shareholder vote. this is like a publicly listed private equity vehicle. that is a good way to think about it. we are serving the purpose of buying one entire company as opposed to being the conduit to somebody else's public listing. so in those ways, they are very different. where they are similar is we give ourselves a two-year life to conclude a transaction. but other than that, they have nothing in common. guy: -- ed: you have done several of these vehicles over a long period of time. we have seen the boom and collapse of spacs. why go back into this space now? you looked at doing something a while ago and pulled it because he felt it was too much negativity. but why now? >> i have been a critic of the spac space over the past couple of years. i said i

this is one of the biggest spac ripoffs of them all. that is saying a bunch.ama is not affecting markets yet. they're planting seed for it. don luskin, one of the steadiest hands i know will walk us through it all. he is next. ♪. charles: so the debt ceiling drama isn't as significant as the media would have you believe. not right now. seeds are being planted at some point they could be stoked. we could see the general public go into a frenzy because it has happened in the past. so later on today president biden meeting with several lawmakers including house speaker kevin mccarthy. edward lawrence is in d.c. now with more details. edward. >> reporter: i can tell you, chars, as you know the results of this meeting could actually lower inflation or at least help it but the expectations for this meeting which is going to be in about 90 minutes have been set pretty low. we're already still hearing from the white house that the president refuses to negotiate over any spending cuts however the house speaker insisting on spending cuts. many economists say government

called in, you've called in, we're all asking about what is the deal with sofi two years after its spac debut, i'm going straight to the source to get the answers to the questions you keep asking and palo alto after the bell don't miss my post-earnings exclusive with the company's top brands, so stay with cramer from beautiful santa barbara, california >> announcer: don't miss a second of "mad money," follow @jim cramer on twitter. have a question, tweet cramer, #madtweets send jim an email at madmoney@cnbc.com, or give jim a call, 1-800-743-cnbc head to madmoney@cnbc.com. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day th

to so many companies going public via spac in the 2021 time period >> 600 came public reminiscent of00 600 came public of the dubious spac kind of ipo, and i mean, i look at wheels up, and i think, how much money people must have paid them. you had to pay them up front wow. >> i know. >> wow >> it reminded me just now of that line tafrom "jaws" where robert shaw says, 700 men went into the water, 70 came out, sharks got the rest. >> "indianapolis." people don't realize, that had the atomic bomb on it. >> i didn't think we'd go there. but to your point, it's about 1 in 10, maybel less. >> you put a basket together of the 72-cent -- let's get a basket >> we put our indexes together, and if you were able to -- i don't know that you could short those indexes, but if you had, you would have been very happy >> a lot of people lost a lot of money. >> really quick, jim, disney below $89. >> that's so painful >> a day we're getting word that netflix will roll out their password crackdown in the united states >> eddy cue, when talking about, you know, apple plus versus a disney plus, i mean, h

if you can't get what the company was, student loans, refinancing, wow, wow, but it is a spac, and spacsng people about spacs. since 2021, i believe. >> he called the top on every one of them. >> you famously, nicola, you had that one. >> we did call him out eventually, yes. >> yes, you did. >> and we were going to slap him silly if he was lying to us. >> lucid. >> still a lot of personal profit made in a lot of those names. >> lawsuits galore about these guys, but i don't know. >> well, listen, you're talking, it's different some were completely above board. it's just the managers of the spac were obviously incented incredibly >> the disclosure is perfect on the ones people were complaining about. >> they came to the nuisance, as we say, in law school. >> when you move next to a quarry, i mean, hey, you're next to a quarry, something goes wrong. >> or if you didn't know, you should have. >> you should have known. >> speaking of that, i have wes on tonight, who has the high speeding training. maybe you want to live next to him in florida he's really talking about this new fortrapeess is

they needed new spac especily for their faers to live. and ey had been mpeting with chi, as wl as theoviet unn foinfluencin manchia,. and mahuria wathe st indusialized rt of connental et asia, and they waed toove in tre. [bill] ding januy, 1932, the imrial japanese vy sent troops ashore in shanghai, algedly to protect japanese economic interests and civilis. chiang kai-shek largely avoided confronting the japanese troops, who were occupying evermore territory in china, concentrating instead on his communist rivals. [intense music] not until he was kidnapped in 1936 anfacing death, would he agree to a second united front with a now larger, but stl relatily the age was set for ina - [bill] the arrival of war in shanghai was sudden and deadly. - we lived about a half a mile from the railroad, and e japane are riodical trng to bo the raioad. sos a chil i can rember that awf sound oa plan you knowdiving wadays, ey'd jusdrop it, t in tho days th dove in yand had a pch in our houson the trd floor we useto have tea inhe n t in tho days th dove in

t has $2 in his ca bank aou satrua spac aivate yi o dock at the international space station this morning. the capsule named freedomunched from cape canaveral yesterday. four saudis, including saudi arabia's first female astronaut and a businessman, an from tennessee, are all on board. the crew also includes former nasa scientist peggy whitson, who is the first woman to command a private spaceflight. she already set the record for most time in space by an american at 665 days. what an inspiration. time now for a look at your monday weather. wildfires burning in western canada has triggered air quality warnings here in the us. authorities in colorado, montana , utah and idaho have issued warnings. and looking at the radar, skies are clear across most of the northern half of the country this morning. but parts of the southeast and the gulf coast could see rain today and looking at today's high temperatures, 70 in much of the northeast, 80s and 90s in the south. and southwest, 50s and 60s for the northwest at 60, 74in great falls while you boarding pas facht, coueling four idah court. and th

first step, vinfast going public via spac. the deal will give them an equity value of $23 billion.ing issues in china. it will need to fix almost every car is ever sold their due to a breaking and accelerating problem. it is software over the air update. in the u.s., tesla has tweaked prices for the third time in less than a month adding $1000 to the prices of the model x and model s. caroline: we have to stick with the tesla theme because tesla shares have been battered around because maybe the focus of elon musk is going to turn attention back to it because maybe he can take his foot off the gas when it comes to twitter. what are you making of the fact that ultimately twitter has had to realize elon musk is great on the tech side of things, but they need someone who gets the advertising side? guest: it so interesting, elon musk might be a genius but we all make mistakes. it's interesting to see six months into this journey, his realization that advertising which made up 90% twitter's business really does matter and keeping this advertisers happy is important. this move is a step

. >> with interesting from a spac perspective is to see the technology we use to help the early warningsiles, we can also see objects in space w can use it for space awareness as well. and the missile launch, enough to just panic, or i could literally kiss. >> i think we can give you enough to keep you from having to say goodbye. we night not be able to. >> which is keep it at that level. >> i don't want you to tell me anything that could possibly unless it would be entertaining for people to hear. i love space, i'm a huge fan of force. with you guys do? what does space force do? >> we ensure unfettered access. >> is there some feathering going on presently that we don' know about? is there a space war that we don't know about? there is not a space where that you don't know about. >> essbase skirmish we don't know about? not to pause speaks volumes. how much can we tell this guy? >> we know that there has been activity recently and whippets are being tested by other nations. it really shouldn't concern us. what do i know about what weapons are being tested in space. and like they're not

guy: london is back, volume pick spac up as a result of that. european equities caught in a pincer movement between the chinese data on the one hand which was week earlier on. the countdown to the debt ceiling and tomorrow cpi. which way do we look i think is the key question we need to ask ourselves. the countdown to the close starts now. >> the countdown is on in europe. this is bloomberg markets, a european close with guy johnson and alix steel. >> the mood certainly feels risk off in europe. the stoxx 600 down but you look at the conversation i would say it's more bearish than the headline number indicates. range bound for quite some time now. the index levels giving us a clue. guilt we've got the bank of england coming up later on this week. the expectation is that the bank has further to go down the road. maybe you can pay for some central peers. a lot of properties out, ryanair is one of the stories announcing a big order to buy boeing 737 mack's is with the knack of timing when it comes to getting these deals done and the price he wants.

new ceo i shouldn't talk about it because, of course, it's below the market cap but it is a former spacts, it's 50 cents today. >> kenny victor is no longer the ceo of the company he stepped aside. >> what's important here, if you watched that eclipse interview with warren buffett, he was talking about net jets at one point he said, and then there's wheels up. wheels up is at 47 cents, and they have a billion dollars in liability. he said, i don't know if that's the case they take people's money i said, you can't have warren buffett in the middle of this conference call take down wheels up you can't watch your phone seeing that i'm here how about iff? >> yes, it was on my list. thank you. do they ever have a good quarter? >> 1982 to 1985 i handled their buyback. >> very strong >> this company, what's going wrong here >> i don't know. flavors, fragrances. >> i thought ed breen -- >> everzine is chairman back in february they used to be a pristine company. they made a series of acquisitions, including the russian -- >> brought in a new ceo. he was supposed to help right the ship. >> he ai

metal went public in 2020 through icepack, one of the biggest shareholders is alphabet -- through a spacone of the biggest shareholders is alphabet with a 3% share. do you expect to work closer? >> no doubt we will benefit and cooperate with a great shareholder base. it is a group of people that believe in innovation, it is bringing the innovation to the table, we are bringing the establishment to go tomorrow, the infrastructure to make this -- to go to market, the input structure to deliver values to the best marquee customers the world. alex: what's physically or we talking about when you think about the alphabets of the world and how they can lend the innovative spirit to you as well? >> desktop metal, located in boston. they are highly linked to m.i.t.. that is the entire story. it is so hard to find talent in our industry. the ability to have great links and academia plus great shareholders that are interested in breakthrough technologies. i think it is a great way forward. alex: thank you for walking us through this acquisition stratasys ceo. microsoft is pushing back formally fili

guy: london is back, volume pick spac up as a result of that. between the chinese data on the one hand which was week earlier on. the countdown to the debt ceiling and tomorrow cpi. which way do we look i think is the key question we need to ask ourselves. the countdown to the close starts now. >> the countdown is on in europe. this is bloomberg markets, a european close with guy johnson and alix steel.

money is in there, stupid things happen i've been thinking about as we've been talking -- >> like spacs and nfts and this, that, and the other thing, whatever you want to define the speculative behavior, some aspects of crypto, et cetera >> right exactly. i was thinking about that biepel that sold for $69 million during the pandemic as the money has come out, as interest rates str gone up, what's shaken out? our stocks are relatively inflated we're all down a little bit. we're not experiencing tense pain that's not in our world. that's not where things got really stupid, right they didn't get really stupid at the regional banks they got a little bit stupid at some of them as we think about the pain, i think the real pain's already been felt in the areas that became the most inflated which would argue for a bit of a softer landing, maybe avoiding recession, maybe the craziness that we saw but didn't participate in, maybe that's already shaken out >> the recession is not in the market yet no way >> not yet >> you do not want rate cuts rate cuts imply a much more prolonged earnings recessi

we don't see spacs ipo-ing the ipo window is firmly shut. this has been a rally that's only been with these big tech names. so we don't have stupid behavior we don't have stupid speculation happening. a lot of people have missed out on the move of nvidia, me included, and so i don't agree with cameron although i respect her work from the last segment i don't think that we are, you know, in this highly speculative phase yet. we don't see gamestops and other, you know, stocks exploding. i think we could be just at the beginning stages here of a bigger move. how big is this move to ai really going to be you know, obviously when the world shifted to mobile in 2007/2008, that was a significant platform shift, but the metaverse wasn't that was a nothingburger i think ai is the real deal. when a company raises its guidance by $4 billion above consensus, that's real d, scott. that's not a bubble. >> i hear you, but i feel like to get the broadening out that you are talking about, you know, lower down the tech food chain so to speak, you would have t

like blue owl that went public via spac in 2021 saw their asset management balloon to $144 billion. us is blue owl capital co-founder >> thanks for having me. >> what's driving the capital into blue owl. seems like a lot of shifts. >> i think there's a couple of things driving that rotation of capital. most importantly, it's about delivering performance for investors. the products we offer, the direct lending product, our real estate, our gp strategic capital, but all these private solutions are about stability, predictability and strong current yield. and in today's environment, today's environment of uncertainty, delivering that sort of stability and results that's been proven over time is something people are drawn to. i think for good reason. >> i think there would be more interest in the public market given what's happened with valuations and especially if the fed is on the brink of pausing or cutting. >> well, that's an interesting way to put it. that is if the fed is on the brink of pausing or cutting. if the economy lands softly. maybe it continues to grow maybe it doesn't a

it's not just one of the sort of mini bubbles that we have seen when we talk about what we saw in spac and what we saw in crypto and all these other tech things, we're talking about maybe one or two trillion dollars. n. totality. when you think about what moved the entire stock market, it seems like all of the risk is transferred into a handful of names. is that sort of thing as a strategist with volatility readings where they are, doesn't that make you nervous we could have a snowballing effect if there was something to cause, i don't know, some concern about this bubble where a lot of investors placed a lot of hopes? >> it does look, to us, theai revolution is likely quite real, quite significant. but as we all know, whether it's the internet or what have you, these things unfold in it waves. you get a little bit too much enthusiasm and the stock sell off. if the rest of the market was participating that, is another thing. but that's not the case. and i have to tell you, that's very odd conversations the last several days with people who actually think there is an amount of money --

. >> or spacs. >> thank you, carl but on a.i., i'm all in, man >> i came back from my pilgrimage to jensenid the whole world is going to change we are going to sit in the fourth row of the globe theater and watch the originals do henry iv part two. >> nobody understood what you were talking about nobody had a clue what you were talking about. >> now they're watching beyonce from denmark for 1,600 croners >> guys, i did want to get to a deal today, because i thought it was interesting for a number of reasons. syneos health is getting acquired by a pubunch of private equity firms $7.1 billion enterprise value so about $4.4 billion equity value, led by elliott the price, $43, perhaps something of a disappointment to some out there it was originally reported that this company was for sale much earlier this year, and so the price had moved up but it's a challenged company in many ways, and in fact, what i have heard from people familiar with the situation is that it was a very broad auction, meaning a lot of people came and took a look, but it wasn't an overly competitive auction, meaning very

i think we all feel challenged in our business to say, is this going to be a spac thing and i met a lotd, you know, please don't be a part of this and then i get to jensen huang -- >> please don't be a part of the a.i. - >> it's a change there's nothing to do with the financial creation of wall street that enriched a handful of people -- >> it's a new way to compute and it's working for even companies that we thought were going to be wiped out like advertisers >> it's a sea change. >> i would like to be more skeptical, his all we're going to die thing - >> longer term story. >> yeah. >> longer term. >> we're all going to die, by the way. that is still the news flash. >> our great, great grandkids -- >> maybe our kids won't. singularity -- >> our kids are going to be helped by it. >> you will live on in the cloud no matter what you'll be there. >> i'll see you tonight. "mad money," 6:00 p.m. eastern time we covered a lot just now. more on nvidia's valuation surpassing a triiolln dollars for the first time back in a moment ish allergy. one prawn. very good. did i say chicken wrong? tired

. >> two questions one is do you think the recent experience with crypto and memes and spacs will bringthis room right here with ipos >> you have to be cautious i think the boards need to assess what are the risks and the potential capabilities we can use. as far as ipos, so this year you've had a dormant year about ten ipos year to date down from 20 all of last year in 2020, down from the peak of 300 in 2021 as we look forward and talk to our companies, almost all of our companies want to be ipo ready, right. you have 50 s1s in registration and keeping their numbers fresh. i think the preponderance of them will be in 2024, you may have some going in 2023, but think about the a.i. implications you think beyond the ones going to 2024 is that a next generation. will that just sort of be the next generation of tech to go public. >> in tech and not in a.i. >> yeah. >> you're nowhere not getting funded and going public. >> i would argue if you're in tech you have to be in a.i., right. you at least have to know how it impacts you and the risk to your core business and more importantly, how do

. >> i have a spac right here that's name, i have to tell you i have them on, total discipline gettingoing so well they labored through a lot and congratulations him. we'll see him a lot. cigna health care, it's been lagging the rest of the group. and then speaking of lag, matthew prince with cloudflare had a not great quarter. i think he's worth betting on. these are three all of which i think are attractive stocks but we'll learn more when we get them on. >> do you have a feeling that we can move past this new, latest episode of banking stress? >> through three hurdles, through employment and apple and now -- we also got, of course, the fed meeting. the last one is the debt ceiling and i think we have to have a lot of hand wringing about that and we'll go up and start talking about debt ceiling and s&p downgrades debt and how much the republicans would make biden look bad, that's still to come. >> that will result in some kind of ceiling for equities in the near term? >> innings i think you can buy. remember, don't buy -- you've got a nice buffet halo that everyone knows you do today

ipos including spacs have raised a fraction less than $2.5 billion it is a huge -- it would be a hugeetween 30 and $70 billion, which is a very wide range and that also reflects the uncertainties in markets and economy and volatile semiconductor prices but just getting it out successfully would be a win for softbank which is being pressured by the declining valuations in tech, particularly in the start-up world where division funds are a major player the japanese comgom rate acquired arm and tried to sell it to nvidia for $40 billion, regulators in the u.s. and uk ultimately shut the deal down on antitrust concerns and eventually that led soft bank's ceo and co-founder masayoshi son, to devote himself to getting arm on public arms he and arm one step closer with this filing, but guys, it is confidential so that means that we don't yet have the prospectus or financial details of the strategy here, and they can essentially just test the waters right now, and gauge investor interest and withdraw ultimately if they don't feel that market conditions are right back to you. >> yeah. deirdre,

launched on sunday and she's up on the axiom spacecraft heading -- orbiting toward theng international spaco, again, gettr your arms around everything that happened there. >> we're just seeing -- we're seeing some -- we'll be back next year and we're already getting a lot ofan people raisi their hand. the core idea that we could turn it into international women's dayrn from a hashtag and slogano an actual event and create something so that onev that day andso across that week we're dog something that furthers the idea that women, you know, their best years, their experience, the fact that they have time -- more time to achieve over 50 and that event embodies it. >> yeah. long runway, a great mentoring event. >> a great mentoring event. a i hope you don't mind, i want t, change the subject for a second. because, well, my dad is from kentucky. so we -- >> i know where this is going. >> my family grew up -- my dad would take us out to the horse track early and it was just, you know, belmont, he always went to the preakness. he's from kentucky. it was a requirement. but you're a part of the sta