the only problems -- no spac gets that premium.e who still on this one are devout believers in the chairman and ceo, but i don't see what he has done to deserve that following. still the believers think he can acquire a combination of businesses and instantly they will be worth roughly double what gamestop paid for them. i don't know about you, but i would not take that bet. at this point why operate the stores? one of the remaining analysts published the reaction where he said, quote, we figure it would be reasonable for management to close its doors and operate as a bank. gamestop has roughly $10 per share in cash, but without a hint of strategy to deploy capital, we do not see why shares trade at two times. based on whatever nonsense they cook up and there is nothing about the business that is worth talking about. bottom line, when you think of gamestop, you need to imagine a spac and not just any. it is massively overvalued. they need to purchase something incredible at an insane discount because that is the only way to justify

opaque, things that aren't rich in valuation history, and they say come to me with a blind pool, a spac going on, a lockup fund. i'll tell you what, i don't like public markets, i don't like stocks, i don't like bonds, so i'll give you money to allocate to your spac under one condition, don't tell me what you're doing. because if you tell me what you're doing, i'm going to be over to map over the over-valuation analysis of stocks and bonds and not going to like it. so they kind of hold their nose, close their eyes, cover theiratheirary ears and hope it's going to work out. unfortunately, the promise is a little bit of a false promise, based upon a volatility argument, which means you get about the same return and hopefully a little bit better than the public market, but you have lower volatility. that's a false promise, because they're not market-to-market. they're private. it's like saying you never lose money on a cd. well, you have a penalty if you want to get rid of it. so i think that's false promises that go into these non market-to-market strategies, and every speech i've given i

rings to the table -- brings to the table and have question his judgment, included that including the spac say they have not complete taken their lumps on it even though they have reconciled it on a financial basis. >> alex karp walking through the woods because it is him, absolutely him. he is unusual. he does not behave like a typical s&p 500 ceo. he is very outdoorsy. he has moved himself and the company away from california to colorado, but he still delivers. explain more to me about him as a leader in person and why we care and why we have written a businessweek piece. lizette: there are so many things that are interesting about alex karp, but one of the big ones that is important to focus on is he, along with his cofounders of palantir, have structured the ownership of this company so they have super voting rights in perpetuity. they did this when they structured the company to go public. when the s&p relaxed the standards allowing for multi structure shares to be accepted, palantir was in mated with that, so we do care about him because he will continue to control it. caroline: all

is there no comeback for spacs? >> the last question, i don't know.he market always wanted to test what is possible with the industry. who knows what will happen? i do suspect we will increase the number of ipos. we'll see an increase of ipos that come through european and global markets. who knows whas what will come i market? >> michael, i appreciate the time this morning. thank you for joining us. michael marsh, head of financing group at goldman sachs. >>> let's head to another story now. u.s. president joe biden accused the israeli prime minister benjamin netanyahu of not doing enough to secure a cease-fire with hamas and secure the release of hostages. biden said he would push as hard as he can to get a cease-fire deal. a review found breaches of inter national law. dan is joining us for more on this one. i suppose an update coming from the uk and question marks will be asked around others in the region pretty much feel the same way with regards to the exports, dan. >> reporter: that's exactly right. what we see now, arabile, is prime minister n

. >>> and celebrating his spac -- hispanic we need to understand what's going on in the industry also, not what we're lkiacng, and being bold always raise our hands to be part of projects this is how we gain experience and how we get access to opportunities. awkward question... is there going to be anything left... —left over? —yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! i want a massage, in amalfi, from someone named giancarlo. and i didn't live in that shoebox for years. not just— with empower, we get all of our financial questions answered. so you don't have to worry. i guess i'll get the caviar... just kidding. join 18 million americans and take control of your financial future with a real time dashboard and real live conversations. empower. what's next. why choose a mobile network built for places you'll probably never be... ...instead of for where you are most of the time? xfinity mobile was designed for where you need it most. xfinity internet customers, ask how to get a free 5g phone and a second unlimited l

morgan ceo jamie dominic spacs. this is something that is irrelevant. they couldn't do it. it will not be earth shattering. it doesn't mean that much. i think a great job but it is a minor thing. >> it is just a minor thing. justify cut. mary nichols will raise the yapping to a new level. mary, thank you for joining us. what you make of this debate? 25 or 50 where is the statement in the forecast -- are they going to be more important ultimately weather or nothing at 25 or 50? >> think so. as jimmy time and put it, 25 or 50 basis points doesn't relate matter. i think what matters is how they lay out the future trajectory of where rates are headed. that will be crucial. of course where the dock plots are, remember last time we had the. plus, they were forecasting only one big cut this year. that is august the going to change myself -- but it is about where they're headed. the markets will overextend and get excited that if they are forecasting to cuts, they're going to go three. there is this oversensitive and over difference of the market for more for cuts. at the same time

you might remember this company went public through a spac deal and i did have high-profile backers like branson and other big names but at that point it was worth several billion and now it's just a fraction of that and we will see, for now the special committee has a banker we are not aware of the company itself is exploring a sale but she has said she is open to other offers so it could make sense for this company and the limelight of the public markets to sort of reset and potentially restructure and return to growth. >> thank you very much. let's get to some more news. kkr and goldman back home renovation startup live space is getting closer to going public. the platform connects customers with designers for home makeovers in markets like india and singapore. it's betting it's first net income in the first quarter of 2025, a live space gets 85% of its revenue from that india market. caroline: let's talk about someone's probably eyeing the ipo market and the venture landscape. someone with a lot of expertise. cap -- co-founder just made a recent $250 million investment in the ticketi

vertiv, one of the first spacs, successful. my travel trust owns, eton. they're very big in the datacenter. and then trane technology, tt, because they're trying to cool off the datacenter f.. if you look at their stocks, we are not early in choosing those stocks. >> that's a couple references for trane this hour alone. as we go to break, watch bonds today. we got starts out of the way. fed decision, of course, we'll get a treasury buyback announcement at 11:00. and we'll be paying attention to that presser at 2:30. for now, ten-year, about 3.68%. stay with us. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. >>> check out crude oil down a touch although s&p energy is the best performer at the moment. looking

that stock down more than 75% since merging with its spac.ian electric dropping 9% today, after the company announced a stock sale to settle litigation. >>> meanwhile, volatility relatively flat today. actually, over the past month, too, but guy, you are expecting it to pop up again. >> i'm taking my lead from katie again on this. a couple months ago, correctly, she should you would see a spike in volatility. didn't think anybody thought it was going to 60, it did. but that was sort of round one. i don't think we're going back there, but i think mid-30s is absolutely in the cards. steve talked about the seasonality into october all the time, and, you know, vol, 16 to me, given everything that's about to happen in the world, is way too cheap and i think that move on august 5th is sort of a precursor. >> what do you think for the s and. p, katie? >> we support a higher conviction vix, not just for weeks, but for months. the implications for the s&p 500, they're not positive. i would say that it's a more neutral takeaway, if not worse than that.

s of flexible living spac.er says this project not only helps students, but also highlights an important community issue. >> all aware of our housing challenges and the way i see it is each little part, each little step can be a tiny part of the solution. for every adu, every tiny house, village, for those less fortunate. >> and as for the future of the tiny house, the high school will be able to sell it to a nonprofit or someone who can use it. and those funds roll over into the next project. coming up on ktvu news at 630. the presidential election could become a handful, could come down to a handful of votes in swing states. we'll show you how. one bay area woman is deploying an army of volunteers to court undecided voters. >> and the mother of the georgia school shooting suspect releases an open letter. her message as the community marks one week since the deadly mass shooting. >> and a quick reminder that you can get ktvu on demand on your smart tv through the fox local app. you can watch live newscasts and

>> so this company went public via a spac. so it was basically a merger between a special purpose acquisition vehicle and truth social, which now results in this doc called djt. and if you look at the ownership group, it's interesting and a little bit unique for stocks. so about 66% of it is actually owned by inside siders. with trump representing the vast majority of that he owns over 50% of the total number of shares so 66% with insiders about 7% with institutional investors, which is quite small on a relative basis. and then the balance. so a little about 30% are owned by individuals is it a real business? i mean, is the play here that trump gets elected president, and this becomes his communication vehicle of choice, in which case it occurs to me, he would then have to really compete with elon musk who is now one of his primary benefactors. >> today it is a rival business in its current line of function to x. is it a real business? it is it's, it exists and it's there. it has revenue, although that revenue was measured in

. >>>> what straraps bold toto a t anand hurdles s and into s spac >> or boriring m makes vacatati hahappened, eaearly retireremen possibible, and ststuff startut start ofoff because e it's smar depependable, anand steady. . a words you u want from m your ba for nenearly 160 yeaears, pnpnc has been brilliaiantly boriningo you can n be happy phil, whihics prpretty and boring if you thin about it have you u ever consnsidered g getting a w walg wellll, look no fufurther safef ststeps. >>>> best offefer. just got beb. now,w, when you u purchase y yo brbrand-new sasaved stamp p wal tutub, you wilill receceive a t shower p package. >> yes. >> a rain n shower pacackage. a ifif you call l today, youou'llo receive inversrse in allll your entire ordrder now you canan en ththe best of f bothth worlds t thererapeutic bebenefits of a a, sootothing back k that can h he thanksks mobility,y, r really p boost enenergy. and evenen impr sleeeep oror if you prefer, yoyn take a refrereshing shshower. a in one proroduct hole e now to receceive a three showower pack, was s 15% off yoyour brand-new e step login t tu

right now it's a 34 cent stock, and we should tell you it went public back in to 20221 via a spac withrichard branson's virgin group. since then, the company has fallen more than 95%. a big winner today, spew iftive a machines dooring into -- soaring into outer space. up 41% right now. that's even off the highs of the session. investors are cheering the space exploration company's new 5-year contract with nasa a to build moon data satellites. nasa said intuitive will build it lunar relay systems for the near-space network, the system that communicates with government or commercial missions up to the 1 million miles if from earth. and people in bel air can't make a cell phone call to beverly hills. [laughter] i know, my heart's bleeding, but that's my neighborhood. [laughter] okay, well, good. good for them. a signal from a million miles away. intuitive will build and deploy these lunar satellites for communication for nasa's artemis program. the value is $4.822 billion over 10 years. it'll be issued incrementally based on intuitive's progress. >>> well, the tupperware party, folks, it'

it looks at the 13 companies that went through this spac process and how they are doing. spoiler alert. it's an uneven answer. a couple of them are doing quite well. some of them are not doing as well. i highly recommend it. a nice piece of journalism. that notwithstanding, it's undeniable there is an energy in this marketplace. this is the result -- scott and i tend to mark the beginning of time as the late 1980's and was a civil servant there in the reagan administration. hi start counting from there --i start counting from there. scott and i were incredibly handsome. even back then the tension scott talked about existed. what was the proper role of government? what was the proper role of the commercial sector? i would like, if we could, to look at some of the history. what is the measure of merit we are using? there are a lot of different things we can choose. simplistically, are we seeing signs a mature marketplace is developing? there are six of the world's leading space economists, alex and henry, wherever you are in the room today. i'm sure i will butcher this. the

your point is a valid one in the sense you're almost buying a spac in the sense you're buying whateverget out of leases and they cost money. we have a good analysis. don't look at the averages because they're distorted. look at nvidia, look at amd. that's what was bad and that's good and oil sold to you -- >> sold to you >> jensen huang today. >> it's been a while since we heard the most recent -- >> see you tonight, jim. >>> when we come back lael brainard is here ♪ ♪ ♪ ♪ this one is for you. weathertech products are designed and manufactured in america using only american raw materials. most competitors make things seven thousand miles away... and then wonder why they don't fit. with weathertech in your vehicle you may hear angels singing as you marvel, how do they do it? simple. american technology and american workers deliver quality... not imported junk for a few bucks less. get the world's best floorliners and support america. find your fit at wt.com (♪♪) (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you'

you had a lot of sort of lower-quality, risk -- >> and the spacs. >> and it's been this very long hangoverng rates has given way into election uncertainty now. >> and the other piece of it is, the a.i. boom seems like such a game of scale, and spending power and capacity. it just seems like it's tough to get that story out there when you're not just, like, oh, we could buy the most nvidia gpus, therefore we're going to win. a start-up can't do that. >> we're not really at the point, it would seem, where there are applications that are very specific to a particular company that sort of invented something based on all new compute power and everything else. >> exactly. >> fair point. that said, there are plenty of companies we can all sit here and think about, wonder, gee, why aren't they? the depth of the private capital markets is so much different than certainly it was 20 years ago, even 5 years ago, that companies can stay private far longer. >> and it's all -- it's really almost by design now, too. not so much vc but private equity, buying stuff up along the way, and just assuming they'r

the genetic testing company went public in 2021 through a spac. been in a freefall, wojcicki owns 40% of the voting rights and was looking to own the rest that she didn't own. >> did everyplace know steven cohen owns the mets? >> i assumed. that's why i said the mets. >> he's got a lot of money. you have lindor. i kind of like the mets. not a big yankee fan. still don't like the yankees. >> see, that's just it. you have your hometown team you stick with. >> i still like george steinbrenner who's paying for stealing everybody's else's players with money. don gull it. that's the one that gets me. >>> coming up, a new program promises a big payment. and in the next hour we're going to talk tax policy and more with house speaker mike johnson. as we head to break, he's a look at yesterday's s&p 500 winners and losers. >> announcer: executive edge is sponsored by at&t business. next-level moments need the next-level network. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? wh

and again, we just want a safe spac. bueno, gracias. y espero q pues lo acabo eso. thank you. i hope that you don't pass the ban. thank you. thank you for sharing your views. next speaker, please. hi, there. excuse me. my name is evie. i first i want to say thank you for my bus drivers. thank you to the bus drivers. and thank you to my taxi drivers especially, and i also want to thank you in advance for not passing this draconian ban on, oversize vehicles, providing shelter, and while they're parked on the streets, these are not oversize vehicles. these are undersized homes, i'm part of, an interfaith group of folks. nueva esperanza accompaniment teams. and, right now i'm in a i am accompanying a family of five, a mother to a teenagers and an infant who has severe disabilities. they are about to exit their shelter, the mother is a victim of domestic violence who fled from guyana, who fled from a situation. you just simply don't even want to imagine or know about in any wa, and the infant, she carried over severely disabled. if she came. okay. half year old, the teenagers, thou

and again, we just want a safe spac. bueno, gracias. y espero q pues lo acabo eso. thank you. i hope that you don't pass the ban. thank you. thank you for sharing your views. next speaker, please. hi, there. excuse me. my name is evie. i first i want to say thank you for my bus drivers. thank you to the bus drivers. and thank you to my taxi drivers especially, and i also want to thank you in advance for not passing this draconian ban on, oversize vehicles, providing shelter, and while they're parked on the streets, these are not oversize vehicles. these are undersized homes, i'm part of, an interfaith group of folks. nueva esperanza accompaniment teams. and, right now i'm in a i am accompanying a family of five, a mother to a teenagers and an infant who has severe disabilities. they are about to exit their shelter, the mother is a victim of domestic violence who fled from guyana, who fled from a situation. you just simply don't even want to imagine or know about in any wa, and the infant, she carried over severely disabled. if she came. okay. half year old, the teenagers, thou