. >> out of the spac game.g proponent of spac. >> i'm a spac sponsor and i can do a little mospostmortem on it you want. the spac product is broken right now. it's broken because the government wanted to break it. that took away one of the key benefits of the spac merger. it's unfortunate because i've been involved in a half a different companies going public the regular way. and i was optimistic that the spac ipo process could fix some of those problems. unfortunately, the way the product sits today, it's irrevocably broken. and there are a lot of good companies, including, i think, the two that merged with my two spacs, that are kind of out there and not trading well, because they're having a problem doing this. it's a broken product, i don't see it coming back. but hopefully some of the lessons of what it was trying to fix will come into the regular ipo process. we found a couple of good ipos that found price stabilization and orderly ipos over the last week or so. >> we'll have you back on. that's a whole s

spac was a buzz word on wall street during the pandemic and now it's all about ai.xt guests are doing both, zapata ai out of harvard is going public via a spec following the merger with former indycar driver michael andretti's firm, valuing the company at 200 million dollars. this a software helps racing teams model where cars'tires are sliding on the track which is very important in terms of adjusting certain functions to shave10ths off every lab. i'm joined by michael andretti and christopher savoie. it's great talking to you guys. i have to start with the question about your company f1. when i was teasing this slot coming up, i got a message from a viewer who said a lot of stories going around that andretti will getfia approval will get team approval. what is the state of that challenge? >> i hope so but we are not there yet. we are waiting for the fia to give their decision on what they will do in that area. we are hoping that we get an answer here soon. we feel pretty good about it. you never know until it's done. if this comes through, it will be very exciting

> according to my staff's research, september 2021 first time you launched investigation against a spacrst, you were clinton's finance director in 2016, hillary clinton's finance director, second, you hired anti-trump enforcement tractor green wall and brought in barbero, two impeachment trials and in november 2021, senator warren urged you to investigate the spac merger involving@'s truth social company and in december 2021 a few weeks later, youmb guys launched investigatin using a novel legal theory against the former president's social media pane. that is some coincidence, isn't it, mr. gensler. >> it is good to meet you in person but i think you're not correct. >> what was i not correct about there? >> we follow the facts and the law wherever they are and with regard to the spac field, the special purpose acquisition field, there have been abuses as you mentioned one in 2018 that we found and there are times that we to open investigations. >> the problem that i have you is not investigating spac merger but the problem investigating spac using novel legal theory against your boss, j

when did the sec take its first forced action against a spec -- a spac? mr. gensler: we would have to get back to you. i don't know what decade that was. sen. vance: according to my research, september of 2021 is the first time the sec launched enforcement action against a spac. i want to recap a few things. you were hillary clinton's finance director. -- third, you brought in the litigator on two houses between trials against donald trump. you have any other enforcement counsel married to peter strzok. senator warren urged you to investigate the truth social company and in december 2021, a few weeks later, you launched an investigation using a novel legal theory against the former president's social media company. that the some coincidence. doesn't it? mr. gensler: it is good to meet you in person, but i think you're not correct. sen. vance: what was i not correct about? mr. gensler: we follow the facts of the law wherever they are. with regard to the spac company field, there have been abuses. one in 2018 that we found. there are times that we open investig

one, is they timed the spac market pretty damn well it seems to me, number one. number two, they improved the experience of going bowling and made it -- not that they were alone in doing this, and they made it fun again. >> by the way, tyler, i heard from somebody on twitter in kansas who said they took their family of four to go bowling. i haven't gone bowling in a while so i don't know this, and it cost them $200. and so bowling has also become expensive. and that's another part of it story we start talking about inflation. >> that has to have included food and beverage. >> i actually think he said that was pre. >> i've also heard the sticker shock. >> that takes my breath away. that is a 7-10 split. herb greenberg, thanks. have a great weekend. >>> further ahead we've got working lunch except skipping the food and adding a work out. we'll hear from the ceo of jim pass, a company trying to help companies bring gym benefits to employees. "power lunch" will be right back. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadbl

. >>> what should have been a 180-day mission into space devolved into 371 kdays in spac for frank rubioe details on the long journey. >> less than a thousand meters from touchdown >> reporter: frank rubio wasn't supposed to set a new american space record he would rather have been home celebrating milestones in his ki kid kids' lives. he got stuck after his mission was hit by space junk. the greatest challenge he says was psychological. >> most difficult one is pretty easy the separation from family has been a challenge >> reporter: a year in space carries increased health risks increased radiation exposure, body fluids that shift to the head muscle and bone loss can lead to balance problems back on earth >> there is a lot of science that has to happen in the first few weeks, and then there's getting back to enjoying life. >> reporter: rubio is also a combat veteran and doctor, who was vigilant about staying in shape in space >> i feel like i've stayed at a pretty high level up here. it will be interesting to see what the first couple days feel like when i'm back on earth. >> reporter:

they had to go the spac.his is after the private equity to restructure the business and make it more comcompelling. this is where they ended up today. they were seen as an attractive acquisition. what is interesting is how much smucker paid for them. >> the big risk here and the big worry and yesterday, jim cramer talked about the deal. this ties to the story of the ob ob obesity drugs. people take these obesity drugs, which is a serious concern and investors flagged with this deal. >> halloween is coming up. i guess these are the staples for trick or treat? >> that would be a big win. they are big. the generous households. not for your toddlers. >>> we will take a quick break. coming up on the show, wage growth holds steady. we get into the details in just a minute. hi. i'm shannon storms bador. when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and thanks to shipstation's discounted rates we're sa

arm is very profitable these are not spacs, not companies we're going to land on mars we'll get therethere. that might be a '24 story. important to point out instacart is not a grocery tech business, it's an advertising business sending people into stores with an app and delivering, none of that makes money the money is where pepsi steps in and spends a few hundred million to make sure their products are on the home page of the app so when people are shopping -- it's an ad business. it's very convoluted how they get there. a four-sided market. it's nothing special arm is making chips for cell phones no big deal. this is a normal environment and i think from that standpoint it's nice to have some deals back >> that's the discussion, we'll get back to it let's get out to bertha coombs with the headlines >>> how are you, dom president biden rallied support for ukraine during his speech at the united nations general assembly summit. the commander in chief called on the west to stand with ukraine saying russia alone bears the responsibility for this war. the address was the focal point of

we seen some smallish acquisitions, we seen spac's that have worked out, kind of a mixed bag. so the more they can work out my think that is good. what kind of buzz was that ? [laughter] karen: i would like to ask you, and i would like a team to tight end. i just attended a conference called investing in space, sponsored by the financial times in london, two weeks ago. part of it is about the hy pe,. . is there hype? one journalist used the term "zombie statistics," so where are we in be hype cycle, and how do we deal with that as an industry? jen: i can take some of that. we saw early on, and i go back click quote from josh wolf at lux capital. he said there are fobs and fomo, and a lot of investments we make our fomo, fear of missing out, but also sobs, shame of being suckered. [laughter] 800 liquidity at 0%, investors need a place to put capital, and you saw investment in high risk ventures, right? . i can say over the last year and a half, as industries have been rising, we see a different risk tolerance profile. i'm seeing different bifurcations in the market. i'm seeing

is you went public a couple of years ago via spac, and it's just not -- it's been very difficult, yethnology, health care, all of the sectors that we all need and use. what do you think really gets it moving? maybe exploring strategic alternatives? >> i think people don't understand the 23 and me story. people don't understand -- we're known as sort of an ancestry genetic testing company but we obviously have a significant burn rate because of the therapeutics that we are developing. like i said, we've had this partnership with gsk that just ended in july of this year, so that gives us now the opportunity to do pretty significant partnerships with other companies as well. so we are 100% focused now on moving our own programs forward but also developing those new partnerships that will help mitigate our burn. are liz anne, please come back. we want to see how all of your developments continue to just crack through all kinds of existing molds. so, please, keep us posted. >> i love it. liz: thank you. >> love to. liz: we've got this fox business alert, the s&p 500 and the nasdaq are trai

. >> i mean, you think back to the spring of '21 where spacs, it was memes.se apple and goldman came to getting sucked into that craze. >> there was a lot of interest. people were at home, people flush with cash. remember, it was like prime time for retail trading and investing, higher interest rates, man. that's the story. by the way, carl, the dow is up 200 now. the s&p is trying to push a little higher as well. the nasdaq was negative for part of the morning. it's still negative, kind of flattish heading into a fed meeting. as far as the dow, it's being driven a lot by some of the strength in the cyclical names, which is what we're seeing today. industrials are making a little bit of a move higher turnpike the fed decision 2:00 p.m. eastern and then the news conference at 2:30. we'll be all over it. >> indeed. some of the materials are working, industrials, caterpillar one of the best performing dow names, deere is reversing after the downgrade yesterday. i think your attention will be to the dots. >> the dots and the tone from powell. the dots are importa

she was said, i'm going to spac and i knew that's what i was gointo do and nothing was going to detract me from that. and she knew that when she got to signed, especially after she had gotten pregnant, that, you know, there would be some criticism. and that part really struck me. i mean, obviously, i wasn't surprised. i knew, you know, with every single one of these women either was going to be some kind of friction with the choices that they made because, you know, the country wasn't as far along as enlightened did it as it needed to be by that point. but hers is really one of those double standards where you're just kind of eked out by it because, you know, before she flew there was all this commotion about how she was going to be the first mom. and people were really not very happy about it. you know, there are a lot of questions about, you know, how could she leave her child behind, especially me, which is just, you know, kind of egregious to think about when she's on a crew with other men who also had children. none of them were asked, you know, how they felt about leaving their ch

and others in this district and families and even site leaders have been really suspect about using spac as state mandated cumulative testing as our metric for how we do it is the metric. but there and it's not going to change anytime soon. but how when we get to this part where it says thereby teachers across sites will increasingly review implementation and impact data to plan and provide targeted instruction when we have such a huge i mean, i'm not projecting just because i'm not really happy with spec, but i've seen this in the conversations i've had for decades about this with other educators in the field, particularly here in san francisco, that there's such resistance voice and rightfully so, i think many times to utilize this type of data to set goals and we had this discussion when we were making our goals too, but this is where we landed. how do we get to the point where our our everyday instructor actually does this? like, is that a realistic is that something that we can actualize when we have so many folks that are just really not happy with the actual testing model that we