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tv   The Claman Countdown  FOX Business  April 18, 2024 3:00pm-4:00pm EDT

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rowing which gives you false view of economy that wait a second, despite the hikes, it's still not going back to pre-pandemic rates and inflation and sill looks resilient and this is where wycoff it gets dangerous and back down to the 1%, they'll feel it and they'll be voting with this as their ticket and also ultimately if we don't adjust the pricing situation, you cannot continue to pass down the pricing hikes to the consumer, which is how the earnings are being so h ealthy thus far. charles: 20 seconds to go and you do this research all the time and research people, customers, consumers and what are they saying? how much longer can they max out their credit cards? >> you know, we are always l ooking at top issues and what are the pressing things keeping people up at night and of c ourse, jobs on the economy, continues to be at the top t hree. charles: all right. we find of figured; right, liz? liz: yeah, as always.
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extraordinarily important. charles, before we get to the markets, we're watch ago couple stocks with hawk eye. netflix was a $619 and down 1% at 607. netflix on debt and king of streamers reports first quarter numbers after the bell, ahead of reveal you can see that the stocks are flagging a bit. analysts want to know what netflix is spending in year on content. they shell out a lot of money. last year they poured out $ 13 billion for big shows. maybe netflix should be added to the mag 7 and the stock climbed 24% year-to-date. here we go, look at ipo of the week and investors sending s hares of ibotta higher and wal-mart-backed digital markets and rewards platform and priced above the high end at $88 a share. stock gapped up 33% at the open
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to $117 and right now moderating and up 20% to $105 and change. and this ipo like many others stitched together three profitable quarters and can founder and ceo brian leech head of the rewards program and he gives us big final hour interview coming up. the dow soared 330 points and now it's lost it all and down 8 points. s&p eliminated all 34 points of gains and it's now down 14. nasdaq blew a 102 point lead and russell vape raised a 33 point lead and down 4 points. to the dow heat map, aside from united healthcare and see ago bump from 3.7%.
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there are a number of banks and traveler withs a dismal performance yesterday and right now it is turning around and it's up about $2.28 and about 2 and change. s&p lost all the sheen and one of the biggest laggards, las vegas sands and blasted through earnings estimates thanks to continuing travel recovery and strong singapore business, but the stock is cratering by nearly 9%. no fewer than nine brokerages cut the price target out of the mecca and las vegas sands is
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just simply plummeting and tesla is one of the biggest losers on the nasdaq and ev maker at near 15-month low after touch bank downgraded from a buy to angst and strategic pivot to robotaxis might delay the model 2 ev might be pushed out to 2025. tesla shares seeing about 40% shaved off year-to-date. at the moment, forecast one interest rate cut in december and not june, july, or s eptember. in december but add this caveat,
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there's a real risk that the fed will not cut until march of 2025. we've laid is out for you. dew bank. deutsche bank. >> it el tells me how correlate are and we've watched the 1 0-year tumbling back down and now each day seems like as the day goes on, 10-year starts m oving back up again. as a matter of fact it's made a pretty substantial move oriented the last few months and going from 386 and now pushing towards the 4.7 practically level. that's exactly what i'm seeing in the markets and it's d efinitely an influence i can tell you on the markets themselves because when we're up 300 points, 10-year was a bit lower and then all of a sudden this whole thing started all
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over again. liz: scott, you want your opinion because you look through a different prism and is this knocking on the window of people heavily exposed to equities and might want to do rotation into bonds and not necessarily treasuries. >> it's hard to argue with 10% and even on the 10-year yield and people marketing two, three, four rate cut this is year and slowly but surely we're going to get rate cuts. slowly but surely we've seen this data come through and it's going to be very, very difficult for fed to cut interest rates in the near term for sure. if that's the case, the market held up fairly well.
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we're off 4, 5% quickly here over the last couple of weeks in s&p and nasdaq but i'll say t his, it's digestive of seven rate cuts pushing out two to three rate cuts pretty well. but it can't do that forever. and as the 10-year yield goes higher and puts more and more fire under the feet of the people hanging on and waiting for the cuts. i don't think the cuts come at all this year. i agree with that call because seconds to play you look at what the fed -- if you look at what the fed has to look at, it's difficult to cut rates and anybody tell me out there, up 6.5% year over year and fed funds 5 at any 5.25 to 5.5. they're going to have inflation problem again. liz: everything looks inflationary whether higher oil prices, higher gold. gold's been hitting multiple records and pete, you're an equitous guy and a lot of v iewers are.
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talk alaska names you feel are well priced and goldman sachs looks cheap. what do you like? >> investment banking and take a look back in the 2023, liz, it was amazing how little was happening in the investment b anking area. now all the sudden you get into 2024, and we're absolutely r olling. take a look at earnings for morgan stanley and goldman sax and some of the other -- goldman sachs and other financial investments and the banking side is really, really strong. in the last three weeks or s a week ago this week and next week $3.5 billion in value in terms of what we've got coming out on ipo market. i look at it and look at
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different way of looking at them from a price perspective. pe is one thing but i like to look at price to book and the price to book is very, very palatable and this is a stock with plenty of room to the upside. liz: talk about tech. pete likes meta and alphabet, google. do you look at tech right now, scott? tell me what you think still has a runway. >> yes, i do look at it and probably one of the bright spots for this market and last time you were rubbing annual budget surpluses is the last time there was at dot com boom and hoping to see that deck and hand held high and i want to get holdup of amd and get ahold of nvidia and hard to see going from 150 to 950 and not participate. i want to get in there on a little pullback and that's going to be one of the answers to the problems and helping other companies like wal-mart, amazon,
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even wendy's and seeing a lot of companies that will benefit from artificial intelligence and what been happening with the chips with nvidia. i'm looking forward to meeting some of the things i missed first time around for sure. liz: pete, i can't let you go without bringing up meta has headlines and le headlines and llama 3 raybans on the way and this stock jumped 129% over the past year. >> they've need it had for awhile and still need it and they're trading and with the run it had, it's got to be stretched and trading at 25pe on the
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forward side. it's not way out in strike that us fear but way out on -- stratosphere and they're one of the biggest buyers from nvidia and outside of that, they're created own custom ai chips as well and a lot going on behind the scenes and zuckerberg has done an amazing job n avigatorring through good t imes, bad times and great times and that's why this stock is moving the way it is. liz: i don't know. those rayban classes may eliminate the need for the headsets. we'll be watching it all. scott shellady, pete najarian, thank you. the dow jones industrials, if we can look at intraday, talking with pete and scott, it tried to make a run. it turned back positive, up about 40 points. right now still up 37 and it's been all over the map. again, i remind you it had been higher by 330 points and this strange pattern the entire week
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and dow, and s&p and nasdaq e have about 39 minutes left. downgrade of deutsche bank and putting pressure on the moments moments and dow punched into the green by 52 points and watching the biggest ipo ever to come out of the state of california. debuting on oturu new york stock exchange and rain money from users and investors and ceo is here live to tell us how partnership withs major retailers like home depot, best buy, old navy and wal-mart. does he plan to keep rewarding investors so they stick around? what's his plan to do that? pricing at $88 a share last night, ibotta is trading at $105 and change in the very first
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final hour of trade. the "claman countdown" is coming back with the man at the top. ♪
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now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217.
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liz: let's take a look at new kid on the trading block, ibotta someday butler joining on the new york stock exchange raising $577 million. ipo was priced at $88 a share and that was above the high end when it opened. it gapped up 33% to $117. right now it's holding onto 20% of the gains to $105.68. ibotta basically provides cash back rewards to consumers but that's far from the only business which unlike many ipos enable it had to clock three profitable quarters.
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joining us now live from new york stock exchange ibotta ceo bryan leach. what's this moment like for you in the final hour of trade? >> it's surreal on behalf of the 800 people that work in denver, colorado and around the united states for my company and it's a proud moment for us and the people using products on every day purchases and we're happy to be here for them. as founder to go from starting in in the front room of my house back in 2011 to standing on the particular of the iconic new york stock exchange is like a dream. liz: yeah, the american dream is alive certainly. you're living proof of that. rewards platforms are a dime a dozen. we all know that, brian. you do something extra and that's pretty much a very major profit driver, isn't it? you've got digital marketing software company. explain to viewers exactly what that piece of your business is.
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>> consumers can find cash back items on every day'temporal integrations when logged into wal-mart or dollar general or family dollar or kroger and it's totally white labeled and wouldn't necessarily know they're using ibotta. we have a popular cash back app that 50 million people have registered for and it works everywhere, and we've given away $1.8 billion in cash back rewards on things like bread and diaper and beer. every day items people buy 1.6 time as week. we're excited to be in the g iving away money business and our mission is to make every purchase rewarding. liz: $1.7, $1.8 billion returned since 2012 when you founded. you've got regular registered users at about 50 million. talk about how you make an exponential move to increase that. you know that wall street is all
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about what have you done for me lately. what is the plan to up the numbers? >> well, just launched wal-mart manufacture program in the last six months is seeing uptake of that and dollar general program, dg cash-back in september of last year and ten days ago launched family dollar and smart coupons and we're in the first inning of a long opportunity. we have less than 1% penetrated into a $200 billion marketing for brands and we're thrilled to get back to work and take the proceeds and invest in a i-enabled tech platform. liz: your company is not just a unicorn, which means it's a startup that reached a billion but you're a peg suspended ands and a profitable unicorn that flies. the structure of how the shares
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are needed out. what can you say to convince would be shareholders and you'll listen to them and open to their their ideas and turn into problems at other companies? >> that's one of the reasons why we place guardrails on this and it's time limited and expires and only while i'm the ceo of the company so there's no situation where is people are maybe on the board but not actively in the game. and it only is while i own a significant portion of the company and won't see me we don't want short term dis-trans-s and quarter to q uarter and every time there's been a round of financing in a 12-year history of the company, investors have made money and we've had six straight profitable quarters on adjusted even out basis and net income positive and cash flow positive
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and i'm proud to say investors that supported this ipo are in line with that division and we can't wait to get started w orking for them too. liz: online partners from e bay to wal-mart, disney, game, elf. the list goes on. when you compare what you do with how rakutan is one of the biggest names with rewards. they just link to debit card and so do you guys but you have to up load receipts for ibotta. have you found the ease of use and complaint about the friction of that type of business? >> in the early days, that's right. you have to take a picture of receipt and these days 85 different retailers whether food lion or cvs or dollar general r wal-mart, you don't have to do that. just use phone number or credit card when you check out. wal-mart cash program and dollar general cash program, easy to use and no up loading receipts and we've evolved and progressed for the reason you said, liz.
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rakutan is about online shopping and online retailers paying people for traffic to online websites and we're focused on the cpg brands, coke, kellogg, driving sales and products in store and we focus on helping them do that on feed per sale and never pay for impressions or clicks and only pay when we drive a sale. liz: bryan, this is a company and sector we've been following for a long time. congratulations on taking it public. jumping into the competition, we'll be watching. thank you very much. >> thank you, liz. liz: bryan leach, okay, let's just say it's up 18% in the final hour of trade and nice move here. 23 and me ceo she knows how tough once you go public life can be. she's now betting a structural variant of sorts on the stock of genetic testing company that could improve the genes and
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investors agree. this is a big change 23 and me could use the help. shares lost 76% over the past year. we're coming right back. the dow holding onto 10 point-blank layupses of gains and again we're watching -- points of gain and bull bear battle in the final minutes of trade. let's go.
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liz: look at alaska air rhinos
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flying to the top of the dow transports after better than expected first quarter results and right now the stock is up 4.5%, clearly the airline was able to overcome the near disaster in early indian and one of the boeing max plans suffered a cabin door blowout. alaska reported a smaller than expected loss and despite a $162 impact of the two week grounding of the 737 max 9 fleet and will h to check everything. another 5.5% tacked onto yesterday's gains. week to date, united has jumped a stunning 21%. american airlines bringing up the rear up about 1% right now. and getting to the story of 23 and me. it's surging on a potential plan to withdraw from the public market. when we say surge, we mean 41.7%
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judge p here and exchange filing shows ceo is considering a proposal to take the struggling dna testing company private. the filing notes that the ceo who holds a 25% stake in 23 and me wishes to maintain control of the company, even if it goes private and the stock has just been hammered. it's down 46% year-to-date. and yep june parts at the -- genuine parts at the top and the company expects profits coming in between $9.80 and $9.95 per share and you happen from the previous forecast range of $9.70 to $9.80. a huge number of genuine parts automotive products are made of aluminum. will president joe biden's new proposed tariffs on steel and aluminum jack up the costs and
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the aluminum producers and back in 2018 the former president donald trump is placing a 10% tariffs on aluminum imports and stock plunging 551%. the heat map and intel with the very bottom of the bouhlel 30 losing about 2% at the moment and it's lost 30% year-to-date and moving to the downside and rotation out of some of those and claimen count down is -- "claman countdown" will be right back.
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liz: we've got aluminum shining at least over the past three months and strong futures on the london metals exchange moving to the highest level since february of last year.
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this cops a day after president biden and going to pennsylvania and claiming the country is cheating the card system by offering the discount with lots of government subsidies. we've known this for a long time and data from august 2023 the two top largest aluminum p roducers in the world are based in china followed by russia, india, uk, and then the company reported earnings and bill u plander is joining me. you're coming to us from pennsylvania and that's where the president was yesterday. tripling the tariffs on chinese imports on steele and aluminum. give me a sense of how you expect that to affect your
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business. buying less expensive from last year. >> the tariffs are going to apply to a small amount of products that come into the u.s. and it's essentially the product coming out of china and in our situation and it's not that much of an impact and what we see globally is pretty strong demand and we're seeing in the u.s. and going in china and going for this. liz: good demand is great and hearing more about that and i need to ask you about from president trump and getting
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announced by tariffs of 10% and that's on what all imports with that and aluminum, your stock plummeted 51% and what's the difference this time around state to maximize that would make it not as painful when it comes to protectionism? if that's indeed how we view it? >> indeed, the big difference between now and 2018 is truly underlying demand for the product and and chipping product flows in and going for really strong on the portion of the product that comes into the u.s. and china and overall demand we'll talk about the overall demand picture is that much bigger and along on the tariffs and they were a different effect in 2018 and today in 2024 and it didn't really have that large of impact and as opposed to impact
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of the market requirement. liz: help investors require why demand is so strong and you p osted a wider than expected loss this time around and you lost about 81-cents and that was wider than the 64-cents that was expected and i know your outlook was positive and what's between it when it come tots disconnection here? >> in the first quarter we beat the revenue estimates and the margin and eps was lower than what the street was expecting that was solely higher taxes across the board and where you're seeing the income related to where the street was seeing our income from and overall margin of what street a nticipated and it's greater than anticipated and it was actually on the per spect and i
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have probably more importantly i'm pretty happy with the things i've accomplished in the quarter and announce a large transaction with a number of different strategic issues where it's actually accomplished with a good quarter. and more. liz: what's your time line for profitability? >> today we're strong as they are and not thinking profitability and going on stage with metal prices and sensitivity to the street that says the price and we are generally going with 200 million on the area and going to make $ 130 million and going for the first quarter and that'll go up with the rental price.
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liz: all the demand from where and autoindustry and who is s oaking up all your product. >> it's really broad based, liz. looking around the world and china and growth and every major industry in china and building construction and it's coming off a tough year in 2023 and then go to europe and the big areas there and packaging automotive and seeing growth there and then in north america the same thing and transition and demand for electric vehicles and electrification and even on the packaging side. we see demand growth. liz: it's a great american company and it's been around for a long time. we'll be watching you at the helm. thanks. >> thanks, we've been around 130 years. appreciate the time today.
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liz: yep. keep going. congress maybe one step closer to turning up the heat even hotter on the most popular social media site in the u.s.. as tiktok faces a divester ban threat from lawmakers and we'll be forced to break tie withs the chinese government and even if that were to happen, will it solve the national security issues that the u.s. government says leave users vulnerable. the ceo of cybersecurity firm, entrepreneur of shark tank is johning us in a few minutes. look at him walking down the hallway to the "claman countdown" set. we'll be right back. vector-borne.herjavec.
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municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting.
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but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217.
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liz: breaking news. let us punch up bitcoin. it is higher. that is bitcoin cash. if we look at actual bitcoin it is moving higher by three 1/3%, 63,311. here is the news hitting the tape. federal authorities making another big play in their crackdown on crypto. a federal judge in new york convict ad man in puerto rico in the first-ever cryptocurrency open market manipulation case. he was also convicted of
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commodities fraud and wire fraud in connection with the manipulation on the mando markets crypto exchange. a scheme allegedly to fraudulently obtain $110 million of crypto from the exchange and its customers by artificially manipulating the price of certain futures contracts. now, this chart, as you see as we punch up about three 1/3% in a kay indicates the more regulation, more people thrown in prison doing bad stuff, the people into digital currencies like that. they wanted it cleaned up perhaps. i don't speak for everybody but -- >> maybe irrational exuberance? liz: it is off its highs. >> i will tell you tech stocks, internet stocks back in the day moved on weirdest news because people thought that was positive for it and they all crashed. just be careful. liz: let's bring up google right now. google is the latest company to shy away from progressive -- i wouldn't say shy away, they're
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putting their put down, absolutely putting their foot down. yesterday they fired 28 employees just 48 hours after they, employees attended a pro-palestinian sit-in the company said was disruptive. charlie, google found its voice here. >> yep. my book, go woke, go broke, is coming out in august and one of the interesting things is, it's a sort of sweeping account of corporate, corporate america moving into the progressive sort of, into the progressive politics. the end of the book which is i would say a quarter of it, talks about the go broke part, how corporate america has found out, sort of channeling, virtue signaling progressive politics is not good for its customer base. liz: here is video of the sit-in on tuesday. >> google was the company gave us all the virtue signaling for years. remember their a.i. thing, that they unveiled had you know,
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everybody was african-american. there were german soldiers who were african-american fighting in world war ii. that is insanely woke it is. they had a huge backlash. there is latest example. they're saying it is enough. our customers don't like it. through my research, budweiser can't unsee dylan mulvaney, appeared in one of it is commercials that appeared in the brand not that. target, pried celebrations, i have no problem with pride celebrations, tuck friendly bathings suits forepeople that haven't transitioned people with target with values searching for their kids might object. disney virtue signaled like crazy. bob eiger moving away from that. cost cutting. if you notice they're doing a lot better. one of the interesting examples
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i found, this will tell you why wokeness is ending. jamie dimon famously took, do we have the photo of this, famously took a knee during the 2020 blm riots, when he visited, visited a branch of jpmorgan in new york. at the time we all asked is he in favor of blm and social justice? we were told, you know, assume what you want. so everybody assumed yes. now i am told, got this from, when i asked about this, doing the book, that he was taking a knee to merely fit into the photo. he didn't want to block the guys behind him. so, you tell me. liz: let me go to google. >> that is like fascinating. jamie dimon in 2020 was supporting, they allowed that sort of message. it was all over the media. now he is no, he is red-blooded
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american. he just wanted, didn't want to block the guys behind him. >> what a difference a couple years make. in 2018 google let the tail wag the dog. employees were furious with some government contract. they turned around. fired 28 employees. investigated a bunch much others. these people came in. they did a sit-in in blocked executive from the google cloud assistant. >> this should not happen. liz: deface company property. these are employees. google said we're done, you're done. >> google used to have all those catchy woke sayings, right? do no harm for them? liz: do no evil. >> do no evil. wait a second. liz: they're punishing these people now. this is a change. >> google fired a programmer, i think is name is james denimor, they fired him after he wrote something basically said of the company is too woke. they fired him. liz: that was then.
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>> i'm saying. liz: pichai is in, it is a different sheriff in town. >> no. two weeks ago they were, they were putting like, you know, making sure all the founding fathers were african-american. just trust me on this. liz: they say that was a glitch. >> that was not a glitch. in any event they had woke programmers doing that. in any event, liz, what is happening this business model of wokeness, no matter what mark cuban says is not working. it is failing. this is the latest example. >> charlie gasparino,. >> okay. liz: alphabet stock up half a percent right now. tiktok's future, let's get to that. well in the u.s. it is back in the hot seat, very hot as the house has revised the 95 billion-dollar emergency aid bill for israel and ukraine to include a bipartisan effort to release china's grip on the popular video app. the legislation aims to force chinese-owned bytedance to sell its stake in tiktok's u.s.
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operations to a u.s. organization or company and or, face a total ban. with the package on fast track to passage in the house, the senate is also expected to approve the measure for president biden to sign into law next week. according to capitol hill lawmakers tiktok is a national security issue because china uses it as a propaganda tool and has access to americans user data through parent bytedance. joining me live in studio, member of the u.s. chamber of commerce task force. robert herjavec. you're a shark tank guy too. >> i am. liz: thrilled to have you here but do you think this is going to pass and are you worried about tiktok as everybody else. >> i'm i am, i'm a bad guy to ask, i'm a cybersecurity expert and if you think about a.i., it is popular, it is a big data program. so who has more big data is going to win and my worry
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about -- i mean there is no doubt that the chinese guest issues in tiktok to collect data. liz: no doubt? do you have evidence? we asked senator mark warner, i want to know, obviously some ever it is classified, can you give us a sense what it is that the chinese government is doing? >> i can't give you a sense of it but i can tell you if they don't change ownership i think you're going to see a fundamental change in the law in the united states. the flipside of that though is, for a lot of people that don't care about any of the stuff we're talking about, it is a way to make money, it is a way to connect. i was talking to some of your people outside, they're watching "shark tank" on tiktok, right? i think you have got these two camps. it is a hugely popular media and the government has to find a way to allow people to use it in a way that is safe for americans. liz: steve mnuchin, former treasury secretary, rumors possible interest he has putting together a consortium to buying
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tiktok. would that be something you're interested in doing or no way? >> absolutely. you have such a huge customer base. it is hugely popular. i don't think they will have problem selling it to an american owner. liz: do you think they will agree to do that? will they give them that ip, that intellectual property of their algorithmic brilliance they have? >> i don't know. it is such a popular and growing app, we've got to do something with it. i think the fundamental issue is when you have for ren-owned corporations that are fundamentally involved with the government, like china, this is no different for china or russia or ukraine or other countries where the government's deeply involved with the companies, and they're collecting so much data on our users and our kids and our corporations, there's got to be a limit to it, limit to some of that data. liz: let's broaden the discussion to cybersecurity and hacking, increases that we've
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seen. this industry is driven by escalating sophistication of the hacks that are out there. a.i. has added a whole new dimension to that. actually it is almost a double-edged sword. a.i. can catch these hacks but the hackers are now using a.i. to fake voices and do all kinds of really worrisome thing. what is the most frightening thing you've seen and you're most concerned about? >> the most frightening thing for a.i. with us is the acceleration and the speed of the hacking. now i can replicate your voice, replicate a video message. some of the recent hacks have happened through people imitating somebody else. liz: right. >> it is virtually impossible. a lot of our customers now do a challenge and a response, meaning if i call in, i forgot my password, even if i'm on video, they don't trust me anymore. they have to call me back on my cell phone number. so as you said, it is a double-edged sword. here is the good news. i can spot hackers faster.
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we protect some of the largest companies in the united states. a.i. has enabled us to do that faster but guess what? it's done the same thing for hackers. the other interesting thing, liz, there was an act in 2022 that said any company that had a breach had to report voluntarily within a number of days. there is talk in the senate that that law, that is going to become law now, you have to report within 48 hours. how many companies are in the position to know they have been breached and now things are moving even faster with a.i.? liz: the government is spending a lot on cybersecurity coming up. dan ives was here on the show saying buy cyber stocks. let me get to your other persona to be on shank tank and invest in startups. what does that mean for growing companies trying to grow by borrowing money. >> what people don't realize,
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debt is what powers a lot of small companies. when i started my company i started with credit cards. got bigger, got a mortgage. the mortgage rates hit above 7% again. i'm sure you saw that. it has kind of put a freeze on the housing market too. for small businesses they have to have access to borrowing. i'm a little more bullish though. i think you will see interest rates come down towards the end of the year. i think you will see one, at least two cuts on this year i'm optimistic on that. liz: i'm so glad you're optimistic. glad to have you here in studio. >> i am. thank you. liz: robert herjavec, a pleasure to have you. we have green on the screen at least for the dow jones industrials. have not fumbled all of the earlier gains. [closing bell rings] the s&p looks to lose 10. we have red on the screen for the nasdaq, the russell, the dow transports. january 4th, the dow hit a high o

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