for mass production and required skilled labor. we needed skilled labor there. the third industrial revolution used computers, data, information technology, and we needed people who could program all of that stuff. okay, so now, we're at the fourth industrial revolution. they are saying we must evolve to support teachers and developing individual student potential and preparing students to become self-learners. so they can innovate in a world of tomorrow. i mean, this is really what we're talking about here, before if you couldn't read well you can still probably get a factory job and learn how to do that really well. there were times to be a crafts man, it really did that well and listen there are jobs out there great jobs out there but to stay number one in the world we have to be prepared and what we're doing to our kids is outright criminal. i hand it over to you, liz. liz: oh, my god. you have to watch "who we have" coming up in just a few minutes charles. we have the 14-year-old kid kair

an quazi, california born actually graduated college at age 14 just got hired by elon musk's spacex. charles: love it. love it. liz: first national broadcast interview, kairan is amazing. i did a zoom with him last night you've got to hear how trapped he felt by elementary school because he was so forward thinking. he's an incredible kid. i hope evidence stays to watch. thank you, charles. well the dow is fight together go green, just barely up about 2 points the broader market looking at the third day of selling in a row but as we kickoff the final hour of trade if you want to point to one area of the market showing the most pronounced reaction, the federal reserve chair jay powell's testimony earlier today on the hill before congress, it's of all things bitcoin. the crypto of record, rallying 7 % right now to above 30,000. 30, 107 per bitcoin, after powell speaking before the house financial services committee said, "crypto appears to have

staying power as an asset class ." this is the first time in a month that bitcoin crossed the 29,000 level. first time since april it crossed 30,000. powell also said, "we see stablecoins as a form of money." now, just so you know stablecoin s are not bitcoin, but they are a form of crypto that's pegged to the dollar so the fact that powell legitimized crito with his comments sent funds investing in bitcoin related companies and futures contracts speaking. just look at grey scale bitcoin trust popping 7.5%, actually, no , we've got bitwise, everybody is popping here and cbtc is up 10%. stocks were already down though, before powell began making his twice a year appearance before congress. the dow though showing enough power to shake off an earlier, you can see it there, closely after the open here an earlier 177 point loss but after powell

repeatedly said in a few different ways "we are very far from our inflation target" which he reiterated is 2% we still need to continue rate hikes after skipping this most recent one, the dow began its turnaround. you can see it popped into positive territory. for those of you keeping score the feds preferred inflation gauge core pce stands right now 4.7%. powell also said the decision to forego a rate rise in june still leaves open the prospect of an increase at the feds july meeting. >> i wouldn't use the word pause here today. what we did was we agreed to maintain the rate at that meeting. almost every single of the 16 of the 18 participants on the fomc wrote down they do believe it'll be appropriate to raise rates and a big majority believes raise rates twice this year. liz: never said pause. okay that's why i said skip. the dow would actually be higher if it weren't for intel. salesforce, walgreens and ibm are the laggards right now, so

as you being look at the tech- lead sell-off, it would have been quite the roaring rally driven mostly over the past several months of all things a.i. many of which list on the nasdaq now while the nasdaq is down 109 points right now the tech heavy index run up nearly 10% this quarter, thanks in great part to just two names, microsoft and alphabet. microsoft the major investor in open a.i. behind chatgpt fault ing 15% quarter to date and 39% year-to-date and then look at alphabet, which launched its large language model bard, its gained 16% this quarter and 37% year-to-date, but is making money off a.i. as simple as pil ing into just those two names and kind of kicking back and relaxing? the head of blackrock head of equity, active equity effort has a warning about that kind of strategy. let's bring him in, jay jacobs blackrock's u.s. head of active

equity etf. he is our floor show today. the apathy's jax before we get to your warning, for a.i., if it were let's just say a baseball game, what inning are we in, because some are saying oh, it's a fad. >> we're still in the first in ning. we are really just seeing this technology come out and start to be commercialized. companies thinking about how do i use a.i. in my everyday business but it is early. we still only have a few entrants that have products. they aren't even really thinking about how to maximize commercialization, so this is a long term trend where we are still very much in early stages. liz: the staying power though of this enthusiasm. do you feel like it can continue but broaden sort of branch out beyond these names and what is the warning you give to investors right now about this? >> so i really like to separate hype from use cases. hype is how much people are talking about it. use cases is how much actually people use the technology. when you look at some of the companies that investors have focused on, they have been the first to come out with real tangible use cases but the problem is we still have

dozens of companies behind that in healthcare, in home goods, in legal services that are using a.i. and the markets have gotten that wrong and not focused on that next year of companies innovating in this technology so the markets have been far too concentrated in a couple mega cap names and they have to look broader at the names building out a.i. technology. liz: okay so winner does not take all. winner stakes some but the winners have been microsoft, alphabet, maybe nvidia, and as we cycle through some of the i-shares etf that you have that focus on this , folks, they have had incredible run-ups. the stocks obviously that's the semiconductor etf, is down today because we have listen they had a great run-up so obviously they are selling off a bit but what a big move here up 47% year-to-date. your expanded tech sector etf up 41%. i-shared u.s. tech breakthrough what's in something like that? that's 40% gain. >> so we're looking across the world at really these opportunities in technology. we're looking at things like

a.i. looking at genomics, robotics, cybersecurity, disruptive technologies that to go back to your inning analogy are still early. starting to see use cases of how this can change our everyday lives but in the first few innings of a multi-decade trend so these are trying to target long term trends and give investors opportunities to access though early in their lifecycle. liz: what about the iblc, the i-shares blockchain etf that launched and is up 87% year-to-date. >> we're looking at blockchain technology as a leading disruptive technology that can change everything from supply chains to how we think about legal contracts going forward. i think it's a very exciting technology alongside things like autonomous vehicles and alongside a.i. the reality is we are really in this golden age of technological disruption but we are talking to investors about how do you plant a lot of seeds in these early

technologies and see very rapid growth going forward. liz: obviously when you look at blockchain it transitions to the concept of bitcoin. i know you can't talk about the blackrock fund you filed paperwork for for a bitcoin etf but if you talk in general about how long it takes for the sec to approve or reject. how long did it take for it to approve, just timing? >> i suppose i can't really comment on the timing but when we look at etf as a whole, i think the reality is kind of when we look at thematic etf, we're trying to get exposure to the long term trends. there's a long history of thematic etf that have been coming out for over 10 years so we've seen a lot of up-tick from investors in this space, a lot from professional investors building models around this. liz: whether it's an etf in specific energy, drillers or whatever it maybe how long on average is the process before you get a yes or no from the sec? >> i'd say it depends.

it really depends. liz: yeah, because you look at all that they have on their plate that they are looking at, and there's a lot of demand because you've got a whole bunch of other different companies that are filing all different kinds of etf whether they be bitcoin or something else and all those guys have been reject ed so as we wait on that from blackrock, at the start of the year, people talked about growth stocks, and they talked about how that was it, the consensus was forget it. this is not going to be the year for growth. they have been proved wrong. >> the market was really on the wrong side of this one. if you look at most outlooks, it was really focused on value and it made sense. we were in a rising interest rate environment. historically value stocks do very well in rising interest rate environments, but what's happened is really two important things. one is interest rate increases have moderated and we saw jay powell continuing to talk about that moderation, and the second piece is a.i. has come out of nowhere as the leading technology for 2023 and beyond, so it really reframed how people were thinking about growth.

one is we didn't have to worry as much about interest rates. the second piece was the expectations for the growth of technology stocks really started getting ratcheted up higher. liz: jay, how many etf's does i- shares blackrock have? hundreds, thousands? >> we have over 390 in the u.s. right now. liz: okay in the u.s.. it's unbelievable. really really are world's largest asset manager and people like etf. it gives them a big exposure to a bunch of names so they aren't overly exposed to one name in particular may or may not be doing well. jay jacobs, coming up, the 14- year-old kid elon musk just hired at spacex. california boy and boy genius ka iran quazi just became the youngest graduate of santa clara university school of engineering. kairan joins me next in a fox business exclusive on starting college at age nine, getting more than 90 job rejections upon graduation, and how he convinced

elon's company he had the spacex factor to join the team. the companies youngest engineer in history has a most extraordinary story. you'll hear it next live. closing bell ringing in 50 minutes we've got the dow jones industrials back and fourth, so now it's down about 17 points, call it 20. we're coming right back on the "clayman countdown." (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. new projects means new project managers. you need to hire. i need indeed.

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you get paid when you win. from xfinity. home of the 10g network. liz: oh, yes june. we are at the height of graduation season, and while most eighth graders are probably looking ahead with excitement or maybe a little annoyance and fear to their first year of high school one 14-year-old is a month away from starting work, and no it's not a summer job at a local ice cream shop.

kairan quazi graduated santa clara university last saturday with a degree in computer science and engineering. the california kids first post- graduate gig? working for elon musk at his satellite internet constellation star link. he's going to be the youngest- ever spacex software engineer. kairan joins me now in his first national broadcast interview since taking the job in a fox business exclusive. kairan, congratulations on both the job and graduation. >> well thank you so much for having me. liz: oh, it's my pleasure. did you get any good presents for graduation? what did you want? >> i really just wanted my family and friends to come have a fun time which we did. i had a lot of family fly in from the east coast so that's all i really wanted. liz: yeah, because your mom grew up in queens i understand. so you start the spacex job next month in redmond, washington at the spacex development facility. i'm guessing at age 14 you don't

have your drivers license. how are you going to get to work >> i think my mom will have to drive me to and from work, but i can get my license, permit in around a year and license in a year and a half. liz: california is earlier than new york that's for sure. let's rewind the clock. you were speaking in full sentences at age 2. what else, kairan, were you doing that signaled to your parents that you were accelerating at an unusual pace back then? >> yeah, as you mentioned i was speaking in full sentences at age two. i started doing programming at seven and i was reading computer books i remember i was just six or seven i think, and i wanted a book at barnes & noble and my parents didn't think i had capabilities to understand what was in it but they wanted me to feel appreciated so they bought it for me, so that was one of my first exposures to very dense

math and unbeknownst to them i did learn from it, and so that really helped when i started community college at age nine. liz: wow but before starting community college in california, you were still in elementary school. what adjectives would you use to describe your experience at that point in elementary school? did you feel uncomfortable or like bored, describe it. >> yeah, i would say that my experience in traditional school was a slow suffocation for me. it was physically, emotionally, and intellectually painful for me to sit in the classroom for days, months, eventually years on end not learning at an appropriate pace for me, and while i did have recess and spent time with friends my daily trip to the principal's office -- liz: wait why were you getting sense to the principal's office? >> it turns out that teachers

don't really like it when you want to be a co-instruct or . liz: [laughter] >> i did look forward to those interactions. my day-to-day school life was very painful for me. liz: well, yeah, and thankfully you had pediatricians and you had a college willing to take you. what was your first day like when other college students saw that they were sitting there with someone who appeared to be a kid? >> sorry about that. liz: that's okay. >> you know, it feels natural when i'm with people i can completely be myself around. i don't have to censor my speech or conversation. i'm also very active on campus and i'm lucky to be embraced by a lot of very close friends which does include a few professors. liz: well that's nice. i like that nobody looked at you as some type of oddity. okay so then you transferred to santa clara university. upon graduation, you start applying to jobs.

what kind of acceptance- rejection did you get how many jobs did you apply for? >> yeah, my journey was not easy by any stretch of the imagination both due to my circumstances and bias as well as markets. i received 95 rejections, two offers that were placed on hiring and finally three offers one of which was spacex. liz: what was that like when you got an offer, but you had to go through, i'm sure, an interview process. what was that like at spacex? >> yeah, i heard a lot about spacex interview process being among the most difficult of any company. they accept like .2% of applicants but it turns out their interview philosophy which heavily focuses on wide ranging technical skills and the ability to think under pressure really suits my background. i had something like 10 interview rounds across various

formats. liz: whoa, 10? >> they were a lot of fun for me. liz: [laughter] for most people, that be painful for you, you said it was fun. as you look at this , you had been a fellow at intel at the age of 10 in the artificial intelligence division. why not go into artificial intelligence? >> there were a number of reasons. i really, i'm just beginning my career and i really wanted to explore different aspects of software engineering. it was a very common mistake i think a lot of majors in general make, just trying to get a job and while my experience has primarily been in a.i. and doing research with intel labs i really wanted to gain hands-on work and explore the different areas of software development. liz: i get it. me too. right? everybody on my set is saying that's exactly what we want to do. what is your opinion of a.i.? you know, your soon to be boss

elon musk calls it dangerous. do you agree with that? >> i think it's definitely a double-edged sword. a.i. has the power to really revolutionize society in the way citizens interact with technology and our institutions. however, a.i. ethics is also a very important field and it's one that there's a lot of ongoing research and discussions in. it's not solved by any stretch of the imagination. i think it's very important that when we design these systems we understand the different bias and the harm that these solutions can have. like for example, early predictive policing algorithms really damaged a lot of minority communities, so it's very important to consider these different ethical quandaries. liz: agreed. so, i just got to throw this out there. pretend i'm the ceo of say samsung and i'm thinking how do i beat apple at the smartphone game, because iphone dominates.

if i brought you in and said help me, help me, you're a genius, is it even possible to beat the iphone? >> i think it definitely is. it's not an easy path by any stretch of the imagination. if you look even in bangladesh have i phones so the word iphone is sin on synonymous with smartphones so i think that samsung and other competitors will really have to advance two things. the first is pulling users out of the apple echosystem. my peer group doesn't just have an iphone but they also have a m ac book, air pods, apple watch, ipad, and the very tight integration between these products makes it very challeng ing to remove the use of dependency because you can't just replace the iphone. you also need to have a solution to the broader echosystem. liz: yeah. i've got to tell you, kairan, this is a problem and we call it

sticky. it's a sticky business, because once you're stuck on the iphone and its echosystem, sure. as we say goodbye and good luck to you, kairan, what did you eat growing up? i mean, how is it that you got this fertile amazing brain? >> i would say two things. first, my parents never really had an academic household but more of an intellectual household and they never cared about my grades or my gpa. they cared more that i was learning at whatever pace i wanted, and then they also had a no censorship policy so that really allowed me to gain knowledge in an environment that wasn't restrictive at all, and so that definitely helped. second i think it's impossible really to get a 5-year-old to be doing pre-calculus and a seven-year-old to be doing calculus and organic chemistry. it's not like some type of tiger parent thing.

it's just genetics. as unfortunate as that is maybe. liz: we wish you the best of luck. will you come visit us when you're in new york? >> i would love to. liz: we'll send you a car because you can't drive, but we'll be absolutely thrilled to see you, and thank you for sharing your story with us. good luck on your first day on-the-job. >> well thank you as well. liz: fine young gentlemen. kairan quazi. speaking of star link by the way coming up charlie gasparino has breaking news on the future of star link and elon musk's possible next move for the spacex division. charlie breaks it, next. plus, are investors getting a little fed up with fedex? why the stock is falling in today's session. that's ahead in pop stocks closing bell 36 minutes away. let's call it 35 minutes. the dow down 34. the s&p in the red by 12 points. the nasdaq down 116. we're coming right back. doors lead us to places we've never been.

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the discount chain said its targeting earnings per share of 10 plus dollars in fiscal 2026. in the here and now though, dollar tree expects eps of $5.73 to $6 and change for full year 2023 with an emphasis on improving productivity and margins so shares are up 4.5%. the ftc, federal trade commission, just sued amazon, alleging the online retailer intentionally duped millions of consumers into signing up for its prime program and then sabotage their attempts to cancel. in a statement, the ftc said amazon tricked and trapped people into recurring subscriptions without their consent. not only frustrating users but also costing them significant money. the agent has been investigating amazon prime programs since 202y and founder jeff bezos to testify, but amazon argued the request be unduly and

burden some. amazon put out a statement saying the ftc prime claims are false on the facts, and on the law. shares down about two-thirds of a percent. earlier they actually popped into green territory. quick check of amd, vinceed micro devices falling about 5% most of the chip sector we show ed you earlier is in the red but amd's drop is a bit more pronounced. the semiconductor company actually had pretty interesting news. they unveiled their plan to invest $135 million in ireland. the money is going to fund several research and development projects over the next four years, and the company plans to add up to 290 new positions. by the way, putting aside today 's loss, shares have climbed 75% year-to-date. fedex not delivering for investors at this hour after reporting quarterly revenue that missed analyst expectations. this is the third straight revenue miss for the shipping giant due to weakening demand

after the pandemic. the company announced it is combining its express and ground delivery into one business and that will save them $4 billion over the next two years. stock is pulling back by 2.75%. now regardless of whatever fedex is doing today with the stock, it is an iconic american brand, and now, an iconic american beer brand is getting a lot of attention. yingling, its brewery is in potsville, pennsylvania. its been a staple for the small town for more than 190 years and it's the largest holy american owned brewery in the country so we said let's get jeff flock there. he's there to tell us what's going on and to producing the iconic american brews. reporter: i could not get much closer to the production line here, nor could i get much closer to the brain trust because the great dick yingling, ceo, has four daughters and they

all run the business. what do you do and what are you thinking by the way? >> yeah, so i'm vice president of operations and i'm drinking our light alsolager beer. reporter: what are you doing? >> i'm chief administrative officer and i have a golden pils ner. reporter: lastly, but not least, cheryl? >> that's right i'm in order services holding our newest beer reporter: amazing. you have been as liz said you've been brewing beer here for almost 200 straight years in this very same spot. how do you pull that off? >> we've been here for over 190 years in potsville, pennsylvania this is our canning line at the oldest brewery in america. reporter: you showed us a tour of the cave. the reason they built this here, liz, is there are caves in the side of the mountain to keep the beer cool back in the day. >> yeah, so they were built for natural refrigeration and we're here in the coal mines of

central pennsylvania so those were hand dug by our men back in the early 1800s. reporter: what is it like being a woman running a brewery in a man's world? this has always been a man's thing? >> i think our story says it all. we're six generations, america's oldest brewery, my sisters working here with my dad so we're really proud of that. reporter: liz if you put the numbers up this is the largest craft brewer in the country, and, you know, doesn't get any better than being the number one guy. you've got something weird there though. yeungling always had the weirdness, but you got something there. >> yeah, this is our newest beer bongo phase which is a refreshing premium beer with man go. reporter: none of this seltzer crap, right? >> no, we're a brewery, we make beer. reporter: the cans are coming around. they say i can grab one off to get a fresh can of beer.

liz: you did! wow. reporter: whoa! liz: good job. hold it out there. reporter: we're going to drink a toast to dick yeungling who fathered these beautiful women. liz: i love this story an iconic brand bigger than boston beer. amazing. jeff wish them good luck. we love to see a strong women- run business but we love all iconic brands . thanks, jeff jeff flock. i mean, speaking of made in america. tesla taking the top four spots in this years cars.com ranking of most american made cars. shares of the ev maker have more than doubled year-to-date, but could they have more room to run or stumble? joining me next on all things tesla is the future funds managing partner, gary black, and if anyone has room to run,

it's my amazing guest this week on my brand new everyone talks to liz podcast episode. retired marine sergeant kirstie ennis nearly died in afghanistan when her helicopter crashed and she was left with spine and brain damage and a shattered left leg, part of which had to be amputated so how did she go from contemplating suicide to becoming a snowborder champion and taking on her latest challenge, climbing the seven summits, including mount everest you have got to listen to her story right now. download it on amazon, apple, spotify, iheartradio, wherever you get your podcasts. closing bell 24 minutes away. we are coming right back. the dow increasing its losses a bit here down about 80 points.

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pulling the plug on tesla. the ev leader is down about 5%. it's the top five laggard on both the s&p and the nasdaq 100, and here is what happened. barclays downgraded the stock to equal weight from overweight and yet, it boosted its price target to $260 from $220. they are already behind the eight ball because tesla is at $261 right now, so barclays says teslas 111% rally this year alone has been driven by more than fundamentals, and is likely too sharp an upside move against challenging near term trends. tesla's recent winning streak also powered by automakers ford, general motors and rivian joining tesla super-charger network, so does the ev leaders rally have more room to run or stumble? joining me now on a fox business exclusive is future fund managing partner gary black who just launched a long-short fund to handle what could be a volatile second half.

hi, gary. how much stock are you putting in this barclays downgrade? >> not much. we're still very bullish about tesla as you said we've seen a huge run this year because people, a couple things. one, people believe that second quarter will represent a bottom for gross margin, not seeing price cuts like you saw earlier in the year so second quarter should be the bottom on gross margins. second everybody is getting excited about cyber truck which has 1.8 million pre-orders about 20% of the market for pick-ups and we think this is going to be a day jamie dimon view of 2020 when they introduce the model y, because cyber truck once it's out there and the first deliveries start in the fourth quarter people see it and they go to the tesla website and the tesla store and buy a cyber truck or something else, and that's what happened in 2020 you saw huge volume growth in 2020 and 2021 when the model y came out so that's also driving the stock. china's been very strong.

may and june orders in china, you look at insured registration s were running about 12,000 a week. that's much-higher than people thought so you'll get a second quarter volume number that's north of 450. that's about 75% year-over-year growth. then you've had as you point out the charging deals. you've had gm, ford, now you've got rivian and the next standard which is what tesla uses the adapter is becoming the industry standard and that puts tesla in the driver's seat, so to speak. liz: big time. >> then we got the a.i. sector on fire. you know, and tesla has an a.i. presence with robo taxi, fsd, and they are going to have robots in a few years so all that's contributing to tesla continuing to move up as you said year-to-date, tesla is up over 110%. liz: can i just jump in here, gary, and say that rivian, general motors, ford, jumping on the ev charger bandwagon with tesla, because tesla has spent

so many years and capital building this out and how meaningful is this to the entire ev expansion? because right now, i believe we have about 7% of drivers in the u.s. driving ev's whereas in europe it's more like 11 or 12% maybe even 14% in norway, for example. will we suddenly start to see a catch up now that ford, gm, rivian and all of the others are churning out these cars, plus there's an ev network so you don't have that range anxiety? >> look the number one reason we know that people don't buy ev 's is range anxiety and if they feel that they can go right off the highway and go to a tesla, there's 17,000 in the u.s. , tesla chargers. that's very different than trying to go find a ford dealer or a gm dealer which may not be right off the highway and they have to go find them so having this charging network that's national will help with the range anxiety but i think the other way that you can get

ev adoption your numbers are right. it's about 10% global and 7% in the u.s. is there needs to be more education so you need to be talking about the cost operating cost of an ev are so much lower than a regular automobile. the near autonomy of ev's just put it on autopilot or fsd, and will nearly almost take you there without intervention. then just think about how easy it is to charge. if you don't want to go to a charger, you can put a charger in your house for $1,000 and plug it in just like an iphone and that's so much better than going to a gas station. most states you got to go into the gas station, it's dirty and smelly, where you don't have to do any of that not to mention ev performance and you're saving the planet, so we think in the u.s. , while it's only 7% today and it's important to mention this. the ira $7,500 ev credit is helping tesla because model 3 and model y that is not true of most of the other players. they don't have the full range

of models that are eligible. liz: i do think you're right on that. i drive model y tesla, and i can tell you if for nothing else, the pain in the factor of driving to a gas station every week, gone for the past two years. you just plug it in, amazing, love it. gary come back. thank you so much good to see you. >> okay, thanks, liz. liz: gary black. all right, when we come back, speaking of elon once again, is twitter and the troubles financially, could that be forcing elon to consider spin ning off one of his spacex businesses? we're coming right back. new projects means new project managers.

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♪. liz: we should look at intraday of tesla shares. we showed you earlier they were falling. now they seem to be moving up off the floor. tesla shareholders are continuing to call out ceo elon musk selling tesla shares to pay for his very expensive twitter acquisition. enter musk's other company, space ex, specifically starlink. joining us now charlie gasparino. >> can we put the intraday chart which is moving on my tweet.

liz: up off the floor a little bit. >> up off the floor based off this tweet. here is what we know and we're getting this from tesla insiders, excuse me, space ex-insiders. remember, spacex is owned 50% by musk, what they're telling fox business exclusive they believe space ex-will do some sort of financing this year. that financing will be something about the starlink subsidiary, spin out ipo of the starlink subsidiary. why is that? starlink is a satellite internet service. it is all over the world. it is growing leaps and bounds. by all measures it is profitable. something that could be ipod. they're saying simply all of elon's operations one thing where you generate cash from where he doesn't have to sell the tesla stock he has been selling to finance his twitter

investment. remember, that is a big thing. every time he needs to do something with twitter he sells tesla stock, including 44 billion-dollar purchase of itself. that was all through his net worth which is wrapped up in tesla stock. what have you got that is out there that you can monetize and they're talking about starlink. i can't tell you when this is folk to happen. i can't tell you if this is going to happen, but you and i both know because we speak to the same people, investors in this think it is coming this year. twitter is a sinkhole. believe it or not he fired a lot of people. he is trying to get the operations right-sized but -- liz: not even paying bills. >> that big technology is, he is not getting a lot of advertising right now. liz: yeah. >> that technology is run that thing is expensive. a lot of of people think at some point it could go into bankruptcy. he actually talked about that because the numbers are not working to pay for that if he is going to keep it for a while. he needs to monetize it. he needs to do it. starlink appears if you look at

the numbers growing profitability, on a cash flow basis. clearly growing users, right? it's big in the war in ukraine. liz: largest constellation of satellites bringing broadband to the world. >> it is helping ukraine figure out where the russians are. put all that together this thing can be monetized. investors stay it will be. i talked to some bankers on that.ey believe it will be. it is up to elon musk. he did not return my call for comment. liz: charlie, stand by the phone the thank you very much, good stuff. ah the "faang" stocks plus microsoft, they have crushed it year-to-date, 353%. that's the number you get if you add the percentage gains of year-to-date of meta, apple, amazon, netflix, google being microsoft together. while big names may be attractive though, our countdown closer says exit "faang" plus stocks and shift what he is calling mid tech. george ball of sanders, morris

harris to name what he says are the new med tick stock stars. george, welcome. what are the big names? >> lays, they're not big names anymore. a old country song looking for love in all the wrong places, the big "faang" stocks bus nvidia are now the wrong place. there are a big group of stocks, i will use it as examples, open door, trade desk, teledoc that are shifting from a growth of revenue emphasis to profit margins. they're actually learning profits are a good thing and they ought to be able to do that. the stocks are still down 75, 80% from perhaps absurd highs from last year. they have rallied a bit but the rally is broadening now and mid tech is the new place to be i think, not the old big, great, now somewhat stodgy, overbought companies. liz: trade desk sup is up 68% so

far this year. teledoc has fallen one of pandemic darlings. you still see a base case for teledoc. what is that base case? >> there are over 50 million users, call them patients, of teledoc in the united states of america. they can get a few million of them to become subscription based patients you have got a profit model that could be alarmingly good. now they haven't done it yet. they're moving in that direction, potential for the stock, and for remote medicine is gigantic. so teledoc is sort of stock moving from pure revenue growth to profit growth. liz: if we're staying on the news here, george, today the big headline, when it comes to sort of momentum areas to invest, bitcoin. bitcoin is still above $30,000 right now.

it made quite a quantum leap. it is up 7% right now, up 10% plus over the past 24 hours. do you like anything in this space? >> i like about it coin. liz, as i said in a note a couple days ago, i think bitcoin broadly is sort of thing you want to buy when it is going up. you want to buy it when other people are buying it. the upside is so large, who knows. the downside is very real too but it's momentum play. this is probably a good time to enter with a small bit of speculative money to say sec one sense legitimatizing bitcoin or bitcoin etfs is a game-changer. time for the speculator at least have a small portion of their portfolio in bitcoin. liz: george, we're looking at the s&p intraday. it is down about 23 points. you know, just about half a percent, slightly. where do you think the market

goes in the second half? >> i think the market goes up, liz, but let me do a walk-on suggestion. the vix under 14. liz: yeah. >> is very attractive as a hedge. so i think -- liz: that's where we are, under 14. >> long the mid tech stocks and also buy the vix just as a way of protecting your sell. it's cheap insurance today. liz: you have been our insurance. thank you so much for joining us. our friend george ball with five billion in assets under management. here we go. [closing bell rings] dow, s&p, nasdaq down for the third day in a row. jay powell from the federal reserve now takes it to the senate gives his testimony again. we'll have breaking news. see you tomorrow. larry: hello, folks, welcome to "kudlow," i'm larry kudlow.